"More Good Timing" by MilitiaMan and KTFA Members Friday Night 6-18-2021

KTFA:

MilitiaMan:  Sounds like they have E-Governance ready to hit the ground running next week. E-Gov is now an essential and integral part of the way things are going to get done. More good timing.. imo ~ MM

Samson:  Disclosure of new developments regarding e-governance programs

09:00 - 18/06/2021

The Ministry of Commerce announced new developments regarding e-governance programs.

The Director-General of the Legal Department in the Ministry, Zahra Shaiban, said, in a statement received by "The Information", that "in light of the directives of the Prime Minister and the General Secretariat of the Council of Ministers to automate the ministries of the state and give the utmost importance to this area as it represents an essential and important pillar in the development of work and progress in it in steps. The correct one is the success that will cut off corruption and the corrupt.”

And she added, "The Ministry of Commerce has reached advanced stages in electronic governance programs, as a contract will be signed in the coming days with the Iraq Gateway Company for electronic payment regarding the electronic ration card, as well as the case for the Companies Registrar Department."

And she added, "The rest of the steps will be completed in order to raise Iraq's level in the international assessment and the serious work of all cadres of the ministry."  LINK

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MilitiaMan:  Next week is in a short period of time. They will have it completed next week.?. That sure sounds good to me..

Iobey777:    I really like , “ it will END next week!!” Sounds good to me too!!

Samson:  Source: A committee from Baghdad arrives in Erbil and checks the region's imports

06/18/2021 00:06:44

  A source in the Kurdistan Regional Council of Ministers revealed that an audit committee has arrived from Baghdad to Erbil, to audit the region's imports," noting that "the committee's work will end next week."

The source stated, on Thursday, that the committee began checking the imports of the border crossings of the Kurdistan region, and there will be no "argument preventing sending the Kurdistan region's share of the general budget" after the committee completes its work.
 
The Rapporteur of the Parliamentary Finance Committee, Ahmed Al-Saffar, said that "the Finance Committee consists of a specialized cadre, and it will work to audit the imports of the Kurdistan Region." And the Federal Council of Ministers decided at its meeting on Tuesday to send 200 billion dinars per month as financial dues from the Kurdistan region’s share of the general budget.
 
The decision of the Council of Ministers came, after completing the process of auditing the data on the non-oil imports of the Kurdistan region, by the Federal Financial Supervision Bureau and in coordination with the Office of Financial Supervision in the Kurdistan Region.
  
According to the information, the specified amount of the Kurdistan region’s share will be disbursed retroactively, starting from January 1, 2021, and on this basis, one trillion and 200 billion dinars will be sent as financial dues to employees’ salaries for the first half of the current year.   LINK

KTFA Members "Friday News" 6-18-2021

KTFA:

Don961:  The decrease in the value of salaries by 50% and the increase in material prices by 30%.. This is what the dollar caused in Iraq

2,646 sweeteners 2021/06/17 19:50 mum Baghdad today - Baghdad

Today, Thursday, the Director of the Diwaniyah Chamber of Commerce, Mahmoud Al-Laithi, announced that the prices of foodstuffs have increased by more than 30% due to the increase in the price of the dollar, indicating that the employee’s income in the governorate has been damaged by 50%.

Al-Laithi said in an interview with (Baghdad Today), "The Diwaniyah market was greatly affected by the price of the new dollar and its fluctuation, which requires the government to stop it urgently and seriously."

He added that "food prices rose to more than 30% of their previous price," noting that "this rise caused the employee to lose about 50% of the purchasing value of his salary."

He continued, "Saad's rise in oil barrels above the prices set in the budget requires the government to review the exchange rate and return it to its previous custody," noting that "the market is witnessing a stagnation, as well as the emigration of traders and capital."

Al-Leithi pointed out that "most businessmen have abandoned Diwaniyah because the province is not attractive to investment projects, which prompted them to migrate and implement projects in the provinces of Najaf, Karbala and the Kurdistan Region."

He stated that "administrative red tape and corruption are another reason behind businessmen evasion from implementing any project in the province."  LINK

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Samson: A legal expert clarifies the most important contradictions in a draft law on “recovering smuggled money”

10:00 - 18/06/2021

The legal expert, Ali Al-Tamimi, pointed out the most important contradictions in the law on recovering the proceeds of corruption aimed at recovering smuggled money at home and abroad, which was presented by the Presidency of the Republic.

Al-Tamimi told Al-Maalouma, “The draft law on recovering the proceeds of corruption presented by the Presidency of the Republic consists of 45 articles and aims to combat corruption and ways to recover smuggled funds internally and externally. Contrasting international laws and agreements. He added, "The project obligated the holders of special positions to submit their accounts in other countries, and this is not possible and is not binding on these countries unless there are bilateral agreements with them. Article 9 of the draft.

And he indicated that "Article 11 of the draft law relates to the confiscation of the seizures, and it was not known what these seizures were, because the confiscation of the money is based on a civil case, and the penalty is a fine from the competent court."

He pointed out that "the law required the follow-up of the money even after the death of the accused, and this violates Article 150 of the Iraqi Penal Code and the charge falls, in addition to the fact that "the draft law did not refer to Article 47 of the penal code related to confidential communications." 

LINK

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Samson:  The Iraqi parliament reveals state-owned properties abroad and registered in the name of people

18th June, 2021

The Iraqi parliament revealed the existence of state-owned properties in European and Arab countries, but they are registered in the name of media and intelligence figures.

According to statements to the Iraqi News Agency (INA), Taha Al-Difai, a member of the Integrity Committee in the Iraqi Parliament, confirmed the existence of real estate registered in the name of media fronts and intelligence figures.

Al-Dafii explained that Iraqi property and real estate abroad are either real estate belonging to the Ministry of Foreign Affairs, or other ministries such as commerce, education and agriculture, or real estate belonging to the former regime, including the Cannes Palace or Paris and others.

He revealed that the last type was purchased "in the time of the former regime and registered in the name of media fronts, intelligence figures and important Arab personalities," noting that it was used during the time of the former regime in various political orientations.

Al-Difai stressed that these properties were "hidden from the state and there is not enough information about them."And about the method of recovering them and knowing their details, a member of the Integrity Committee in the Iraqi Parliament confirmed that this matter needs great efforts to know these properties through some of the interfaces through which they can be accessed.

Regarding the locations of these properties, Al-Dafii pointed out that they are between Arab and European countries, pointing out that there are "important farms affiliated to the Ministry of Trade in Cuba and Vietnam, which are for rice, tea and tobacco, which are known and registered in the names of the ministries

The Iraqi parliamentarian demanded that the Ministry of Foreign Affairs follow up on these properties, and "dispose of them according to the legal contexts followed, such as selling or investing them   LINK

Samson:  Al-Kazemi’s advisor determines a way to control the exchange rate

18th June, 2021

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that the monetary policy of the Central Bank is able to control the stability of the exchange rate.

Salih said, according to the official media, that "the monetary policy of the Central Bank of Iraq and its sufficient foreign reserves has the ability to intervene in the exchange market by meeting legitimate demands for foreign currency, in both its two forms, the monetary dollar and foreign transfers in foreign exchange and for the account of bank customers from private sector traders seeking to finance their trade." foreign goods, services and various benefits.

He pointed out that "this policy also has the ability to meet small commercial requests in the same foreign currency, which is being met additionally, which is also one of the important windows in stabilizing the exchange rate at its official borders, all of which leads to the stability of the general level of prices."

He added that "controlling the levels of local liquidity by sustaining the operations of sterilizing the surplus of local liquidity to achieve balance in the exchange market and in accordance with the objectives specified in the amended Central Bank of Iraq Law No. 56 of 2004 will remain the practical course in correcting emergency price deviations and controlling and sustaining stability."

The Central Bank of Iraq had confirmed, earlier, the stability of the dollar exchange rate and the absence of any intentions to change it.  LINK

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Samson:  Russia announces its withdrawal from the Open Skies Treaty by the end of 2021

18th June, 2021
Russia announced on Friday that it will formally withdraw from the Open Skies Treaty at the end of this year.

"On June 18, the Federal Law on Russia's Withdrawal from the Open Skies Treaty entered into force," the statement from the Russian Foreign Ministry stated.

The ministry explained that "the Russian side sent the notifications stipulated in the treaty to its affiliates (Hungary and Canada) and the rest of the participating countries through embassies in the respective capitals, as well as through delegations to the Open Skies Advisory Committee in Vienna."

She added, "Russia notified all participating countries of its decision to withdraw from the treaty 6 months after sending the notification, and therefore this will happen on December 18." She pointed out that "the full responsibility for the collapse of the Treaty of Open Skies lies with the United States."

She noted, "The West must realize that it is impossible to guarantee its security without taking into account the interests of Russia and its allies."    LINK

Some Thursday News Posted by Samson 6-17-2021

KTFA:

Samson:  Company: There is a reasonable chance that oil will reach $100 a barrel

19:48 - 06/16/2021

Vitol, which specializes in oil trading, expected the price of crude to move between $70 and $80 a barrel in the remainder of 2021, supported by the production discipline of the OPEC + group, even with the possibility that Iran will resume its exports in the event of lifting sanctions.

As for Trafigura, which also specializes in oil trading, it believes that there is a reasonable chance that prices will reach $100 a barrel due to dwindling reserves before the world reaches peak oil demand.

Data from the American Petroleum Institute showed that crude oil stocks in the United States fell last week, while fuel stocks increased.

US stocks fell by 8.5 million barrels in the week ending June 11, while gasoline stocks rose by 2.85 million barrels, while distillate stocks rose by 1.96 million barrels.  LINK

Samson:  Adviser to the Prime Minister: It is time to turn to solar energy to generate electricity

17th June, 2021

Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, demanded, on Thursday, the need to go now to the use of solar energy to generate electric power, indicating that this energy is being started in the countryside

Saleh said in a press interview, "Part of the solution to the electricity crisis in Iraq is to resort to alternatives, which is the expansion of the use of solar energy to generate electricity," noting that "the use of solar energy can solve many of the problems that Iraq is currently suffering from due to the lack of electricity supply

He added, "This project should be supported by the state and not used in commercial investment through the popularization of the use of solar energy, and therefore the citizen can obtain it at a subsidized and reduced price to encourage citizens to use this type of energy

He pointed out that "the time has come for us to manufacture the panels or the participation of major companies to manufacture and spread them among citizens, especially the countryside, agricultural areas and separate housing units. He pointed out that "Iraq is rich in solar energy and is considered one of the rarest countries next to Saudi Arabia, with average sunrise hours per year," adding at the same time that "we need strong programs to support this energy

He stressed that "there is a current tendency to establish solar energy projects after there were doubts and fears about establishing such projects previously," noting that "the entry of advanced technology into these projects and that their costs have begun to decrease, and they are local alternatives that can be allocated to a single house or to a farm." separately

Iraq suffers from a lack of electric power supply as a result of the small number of production stations and the old distribution and transmission networks, at a time when the world began to use clean energy to generate energy   LINK

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Samson:  Economist: Heads of corruption in the state prevent the distribution of salaries to employees using modern technologies

19:53 - 06/16/2021

The economic expert, Salam Al-Saadi, confirmed, on Wednesday, that Iraq's finances do not suffer from a crisis as much as it suffers from the existing heads of corruption.

Al-Saadi said in a statement to the "Information" agency, that "following the defense system" Key Card" constitutes a civil and economic matter by making every employee a current account and paying all dues by electronic means, but this method faces obstacles in its implementation by the symbols of corruption, because it will end the process of selling the dollar, and secures great liquidity for the government to pay its expenses.”

He added, "The use of modern technologies in the performance of the economic cycle is very important, giving the opportunity to the central bank and government banks to control the national currency, on the basis of the three elements: monetary mass, transaction volume, and trading volume."

He pointed out that “the financial crisis, in light of the presence of the Corona pandemic and the low exchange rates, is not considered a real crisis in comparison to what other countries are facing in terms of a major economic blockade.   LINK

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Samson:  The Iraqi Gazette publishes the amendment of the budget law

17th June, 2021

The Iraqi Al-Waqa'i newspaper, No. (4636), published the amendment of the Federal General Budget Law of the Republic of Iraq No. (23) for the year 2021.

The Ministry of Justice announced, in a statement that Mawazine News received a copy of it, "The issuance of the new issue From the Iraqi Gazette No. (4636), which included a number of statements approved by the Presidency of the Republic.

The Director-General of the Iraqi Facts Department, Haifa Shukr Mahmoud, said that "the number included the issuance of a correction statement issued by the Presidency of the Republic's Office regarding the Federal General Budget Law of the Republic of Iraq No. (23) for the year 2021."  LINK

Samson:  Issue (4636) of the Iraqi Gazette was issued on 6/14/2021

16th June, 2021

A correction statement issued by the Presidency of the Office of the Presidency of the Republic regarding the Federal General Budget Law of the Republic of Iraq No. (23) of 2021.

To download the issue, click here

Translation of page 1 - all the rest are graphs....

Based on the authority entrusted to us by virtue of it (Eighth) of the Publication Law in the Official Gazette No. (78) for the year 1977, we issued the following statement:

First: It was stated in Article (2 / or expenditures) of the Federal General Budget Law of the Republic of Iraq for the fiscal year 2021 No. (23) for the year  2021 published in the Iraqi Gazette Al-Waqa’a after 4620 and dated April 12, 2021. An amount of (1,299,930,6291) thousand dinars is allocated for the year 2021, including: 1. a.  Operational expenditures (900,000,913,9482) thousand dinars are distributed according to field (1, 2 and 3) of table (b) expenditures by ministries, and the correct one is according to the total field (1) and a new additional operational field contained in table (b) expenditures by ministries annexed to this law. 

 Secondly: As stated in the table published on page No. (9) regarding paragraph (third), the deficit = (a + b) the total revenue (320141984101) thousand dinars, which does not match the total of paragraph (a + b) and the correct one is (101320141984) thousand  Dinar . 

Third: We attach the tables (1/d/how) amended for the purpose of publishing them in the Official Gazette, with the exception of tables (B) and (C) because they were originally published with the Federal General Budget Law No. 23 

Fourth: This statement is published in the Official Gazette.   LINK

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Samson:  Annual Peace Index: Iraq is the fourth least peaceful country

13:50 - 17/06/2021

A report by the Institute for Economics and Peace revealed that the Corona virus epidemic contributed to an increase in civil unrest in the world, as the year 2020-2021 witnessed violent protests, numbering 5,000 demonstrations.

“There were more than 5,000 protests related to the Corona pandemic from 2020 to 2021, with violence and civil unrest increasing around the world throughout the year despite the closures,” the British newspaper The Independent quoted the report, which was translated by the agency “Information” as saying. "While initially there was a decrease in violence when Covid first hit and people were stuck in their homes, civil unrest increased dramatically as the pandemic continued," he added. He continued, "There was a 10 percent increase in violent demonstrations in 2020, compared to the previous year, when the index recorded 14,871 violent demonstrations, protests and riots."

He continued, "The index ranked Iceland as the world's most peaceful country - a position it has occupied since 2008. New Zealand, Denmark, Portugal and Slovenia were also ranked highly, while the United Kingdom ranked 33 on the list, up six places compared to last year." And he indicated that "Afghanistan was the least peaceful country for the fourth year in a row, followed by Yemen, Syria, Sudan and Iraq, while Burkina Faso, located in the Sahel region of Africa - a country caught between terrorism and climate change - witnessed the largest drop in the ranking, dropping 13 places on the list."

The region with the largest increase in violence is North America, where there have been increasing levels of political instability, killings and violent demonstrations, as events such as the storming of the Capitol and large-scale protests related to the Black Lives Matter movement have increased civil unrest and political instability. Although there have been a number of protests in Europe, the region is the most peaceful in the world.”

The report also noted “an increase in militarization around the world, including increased military spending and arms imports. The United States, China, Germany and South Korea have seen the largest increases in military spending over the past two years.

He noted that “the only good news is the decrease in the number of deaths as a result of terrorism around the world, as preliminary data shows that there are less than 10,000 deaths due to terrorism in 2020, down from the peak of more than 33,000 in 2015.”    LINK

MilitiaMan and KTFA Members Tuesday PM 6-15-2021

KTFA:

MrDon:  WOW...this is great. The folks are told to use the DINAR...not the dollar. This last paragraph says it all..." "...accompanied by monetary policies that preserve the value of the currency vis-à-vis other international currencies."  "Vis-a-vis" is defined as "when compared to" . THIS is done on FOREX, where two currencies are paired one as the "base", the other as the "quote". International trading! Period. Awesome! IMO, of course.

Don961:  A national campaign to support the Iraqi dinar

 Tuesday 15 June 2021  Baghdad: morning 

While a group of unions and federations in Iraq announced the launch of a national campaign to support the national currency and the economy and increase the citizen's confidence in the Iraqi dinar, the opinions of specialists came in support of this approach, which was described as important, but they stressed the importance of it being accompanied by a monetary policy that maintains the stability of the exchange rate.

This group said in a joint press statement, "A group of unions and federations announces the launch of a national campaign under the auspices of the Central Bank of Iraq to raise awareness to support the national currency and the Iraqi economy," noting that "this campaign includes the Federation of Chambers of Commerce, the Association of Iraqi Private Banks, the Physicians' Syndicate, the Pharmacists Syndicate and the Engineers Syndicate." and the Dental Association, who represent a large segment of Iraqi society.

The Executive Director of the Association of Iraqi Banks, Ali Tariq Bin, said in an interview with “Al-Sabah”: “The aim of this procedure, which was adopted by several important professional institutions, comes to make transactions carried out in Iraqi dinars, and here we mean that all transactions in the markets are in the national currency, and this enhances confidence among the citizen.” And the currency, and the citizen who needs the dollar has to go to the official outlets to get it at the official price, and thus it is possible to reduce speculation in this aspect.” 

The statement also stressed that the campaign "aims to shed light on the importance of dealing with the national currency and increasing the citizen's confidence in it, for the contribution of all sectors to maintaining the exchange rate and keeping inflation at high rates. low".

He pointed out that the campaign "also includes a focus on the fact that the owners of retail and services stores do not force citizens to sell their goods in dollars, but in the national currency "the Iraqi dinar", explaining that "the owners of shops get the dollar from the currency sale window at the official price, and they force the citizens to buy the dollar." From the parallel market leads to a rise in its price, which affects the entire joints of the economy.”

Economic expert Salah al-Shami explained to "Al-Sabah" that "the completion of all transactions in the local markets in the national currency is very important, to be accompanied by monetary policies that preserve the value of the currency vis-à-vis other international currencies."  LINK

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MilitiaMan:  If we look at what they are stressing. It will show they now have a need to be on the same page. It is now about getting off the dollar. Not allowing the Dollar to be used.

They even tell us recently that they need to use the national currency.. The DINAR.

Take note today that the Kurds have a deal that is retro active. That deal is very timely.. Kahdimi wouldn't agree until he was ready for the when, hence the talk of suing yesterday seems to have stimulated things along.. lol ..

That my friends deal is coming out and quickly, imo.. I can't imagine the Kurds being quiet about it anymore.. There is a deal and deals in digital currency can move fast.. imo..

We are in a very good place. ~ MM

https://shafaq.com/en/Kurdistan/Erbil-and-Baghdad-reach-an-agreement-on-the-Region-s-share-of-the-federal-budget

MilitiaMan:  This is one we all knew was to come and it has. Based on the "Law Suit" we talked about last night on the CC, how quickly it got resolved!! ~ Petra  ~ MM ~ BB

https://shafaq.com/en/Kurdistan/Erbil-and-Baghdad-reach-an-agreement-on-the-Region-s-share-of-the-federal-budget

Kurdistanerbil

Shafaq News/ Kurdistan’s Prime Minister, Masrour Barzani announced, on Tuesday, that an agreement had been reached with Baghdad on the Region's share of the federal budget.

“I spoke with PM Mustafa Al-Kadhimi today as part of our ongoing talks and shared commitment to bring certainty to the Erbil-Baghdad relationship...I thanked him for his leadership, and the federal cabinet for its support for this important milestone. We overcame this difficult, long-standing obstacle together.” Barzani said on Twitter.

Don961: Barzani announces the agreement with Al-Kazemi to send the region’s dues from the budget retroactively

2021.06.15 - 20:58  Baghdad - people  

The President of the Kurdistan Regional Government, Masrour Barzani, announced, on
Tuesday, that an agreement had been reached with the federal government, according
to which the dues from the federal budget will be sent back to the region, with a retroactive
effect, starting from January 2021.  

Barzani stated in a blog post, seen by "Nass" (June 15, 2021), that "I spoke with Federal Prime Minister
Mustafa Al-Kazemi within the framework of the ongoing negotiations and the commitment to make
the relationship between Erbil and Baghdad clearer."  

 "I am pleased to announce that an agreement has been reached according to which the dues from the
federal budget will be sent back to the Kurdistan Region, with a retroactive effect, starting from
January 2021," Barzani stressed.  

 According to the post, Barzani stated that "during our phone call, I thanked him for his leadership,
and I thanked the federal government for its support for this important turning point, through which we
together overcame this difficult and long-standing obstacle."  LINK

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Samson:   A deputy reveals the size of Iraq's debts

14th June, 2021
A member of the Parliamentary Finance Committee revealed the size of Iraq's total internal and external debts.

Abdul Hadi Mohan, a member of the Parliamentary Finance Committee, said that “there are external and internal debts, and other debts in the time of the former regime, and all of them are sovereign binding on the Iraqi government, especially Kuwait,” noting that “debts began to increase since 2014 after the financial crisis that Iraq suffered, after Entering ISIS.

Mohan added, in a statement to one of the local newspapers, that "the total debt exceeded 100 billion dollars," noting that "Iraq pays, according to the country's financial budget, about 14 trillion dinars annually to the borrowing countries."

He added that “the House of Representatives is looking to stop all foreign debts and not to proceed with borrowing, because this situation is decimating the Iraqi economy,” expecting that “the government will not resort to borrowing this period, given that international oil prices have begun to improve and are constantly rising, which may reduce the existing financial deficit.”   LINK

KTFA Monday Night CC with Frank26 and Team "The CBI Starts" 6-14-2021

KTFA Monday Night CC

6-14-21…….THE CBI STARTS

Frank’s team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq

This video is in Franks and his team’s opinions.

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=hq3RZt53dSo

KTFA Members "News and Views" Monday Afternoon 6-14-2021

KTFA:

Samson:  An Iraqi governorate files a lawsuit to get its petrodollar dues

14th June, 2021

Wasit governorate representative, Abbas Jaber, revealed, on Monday, that the governorate has filed a lawsuit against the Ministry of Finance in order to obtain dues from the petrodollar

Jaber said, "The Wasit Governorate, five years ago, did not receive any sums of money from its dues within the petro-dollar project," noting that "the value of these amounts is more than two trillion dinars

He added that "the lawsuit was filed in the Federal Court in order to compel the Ministry of Finance to pay those amounts," noting that "Wasit today needs those amounts significantly in the implementation of a number of its stalled and suspended projects

And he indicated that "the oil-producing governorates have not benefited from the oil that is extracted from their lands, and they only bear environmental pollution and the high rates of cancerous diseases

LINK

Samson:  Iraq Trade Bank - External remittances (SWIFT)

14th June, 2021

External remittances (SWIFT) 

You can now transfer to all countries of the world through the application of banking services from the Iraqi Trade Bank..

Please check one of the banks branches to update your data and activate the app, noting that there are no fees for activation.

VIDEO LINK   LINK

MUV: UMMMM…..isn’t this HUUUUGE???

Trevor:  this IS huuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuge IMO

DeepWoodz:  ARTICLES 121, 122, 123!!!!!!!!!!!!!!! Did somebody say SWIFT!?!?!?  

GardenGirl:  I know Deepwoodz!!! I was just thinking the same thing! I love how they just casually drop it in a paragraph or two, like “no big deal guys, but look what we can do now”

DeepWoodz:  Right?!?! Frank did say NUCLEAR! Apparently huuuuuuuuuuuge things are happenin!

Edna:  I will admit this is somewhat encouraging.

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Samson:  Iraq Trade Bank - Internal remittances with local banks (RTGS)

14th June, 2021

Internal remittances with local banks (RTGS)
 
Transfer from your account at the Iraqi Trade Bank to any other local bank through the application of banking services provided by the Iraqi Trade Bank.. Please check one of the banks to update your data and activate the app, note that there are no fees on Activation

VIDEO LINK    LINK

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Samson:  Proposals to limit the repercussions of the dollar’s ​​rise and warnings of “parasitic” banks

14th June, 2021

The issue of the dollar exchange rate and its impact on the local market is still a concern of the political class and those who follow the economic situation in the country. He is behind the rise in the price of the dollar and "parasitic" banks have benefited from it.

Member of Parliamentary Finance Committee Jamal Cougar stressed that dealing with the rise in prices in the markets as a result of changing the exchange rate is through four steps.

And he said Cougar in an interview with Alsumaria News, "The concerned authorities can proceed with four steps to address the rise in prices in the markets and ease the crisis on the citizen after changing the exchange rate of the dollar against the dinar," noting that "the first step is to control the market prices of imported materials on the grounds that they were affected in a way. More than the local goods due to the high exchange rates.

Added Cougar, the second step is by addressing the fluctuation in the exchange rates of the dollar against the dinar in the local market, and the Central Bank promised to pump at least three billion dollars during the current year to the market in order to address this matter and control prices and not allow the collapse of the local currency.

He pointed out that "the third step is to start projects to support the private sector and provide job opportunities, amounting to at least one billion dollars to build schools and two billion dollars to support small projects for non-employees."

  He continued, "The other step is to raise the level of the oversight role of the House of Representatives and the bodies for integrity and the judiciary to control things, but without this and in the event that things are left to go as the greedy crisis dealers desire, then prices will remain high and the crisis will further suffocate the citizen."

A representative of national approach block Hussein Al-Eqabi  emphasized that the people's strength and capabilities Iraq over the past seven months, it has been controlled by a group of parasitic banks that drain people's money through currency auctions, noting that there is a political decision in the Iraqi state that is behind the raising of the exchange rate.

Al-Uqabi said in an interview with Alsumaria News, "The people's strength and capabilities Iraq  has been controlled over the past seven months, with great regret, by a group of parasitic banks that drain people’s money through currency auctions. Therefore, raising the exchange rate is in the interest of those banks that do not have any economic or commercial activity or activity, but rather subsist on the capabilities of the people and the state, which is what we were warning of. Over the past period," he said, noting that "these banks know very well who is behind them, and they are influential political forces, and there are influential political forces behind the failure to hold those responsible for raising the exchange rate accountable."

Al-Uqabi added, "There is a political decision in the Iraqi state that is behind the raising of the exchange rate, which is of no economic benefit to it, as it provides the state with an amount not exceeding seven or eight trillion dinars, but the cost of it is very high, harsh and severe, and the loser is the Iraqi citizen."

Pointing out that "the reform system was supposed to go on several aspects, but unfortunately, the authorities holding power, we see them move and move from one failure to another failure, as they cannot maximize state revenues or fight corruption and secure the state's needs, but rather go to the fragile class, whether by external borrowing And the internal, deduction, taxes, or raising the exchange rate, and this is the weapon of the incapable, the failure, and the corrupt at the same time, because the beneficiary party is the parasitic banks, and the victim is the citizen.”

He pointed out that "the government must retreat quickly and correct this equation, because the parties holding power are complicit with these banks, most of which are not accountable for taxation, do not submit import statements, and there is no transparency in their work, and a large number of them have completely non-existent formation and classification procedures, therefore, we do not hope better than an invalid class."  LINK

ATPinfinity:  PUMPING IN BILLIONS OF DOLLARS!!!

"Central Bank promised to pump at least three billion dollars during the current year to the market in order to address this matter and control prices and not allow the collapse of the local currency."
PROVIDES.....(IRAQI STATE)TRILLIONS OF DINAR!!!

"There is a political decision in the Iraqi state that is behind the raising of the exchange rate, which is of no economic benefit to it, as it provides the state with an amount not exceeding seven or eight trillion dinars,.."

Pointing out that "the reform system was supposed to go on several aspects,

"the government must retreat quickly and correct this equation,

SO, WHEN "THE REFORM SYSTEM" CORRECTS THE EQUATION,
7 OR 8 TRILLION DINAR= TRILLIONS OF DOLLARS
BUDGET OPENED; BILLIONS ARE EASY MATH!     EQUATION MAKES SENSE

Samson:  Honest: The citizen and the merchant are at the mercy of exchange rates

16:37 - 14/06/2021

The Sadiqoun bloc confirmed, on Sunday, that the exchange rates did not affect the citizen only, but also went beyond the matter to the merchants, and both of them complained about the “crime” of the exchange rates.

A member of the coalition, Muhammad al-Baldawi, said in a statement to the "Information" agency, "We warn of the fears of local market traders that they will not enter the market and supply them with goods as long as they remain at this pace of turmoil between high and low exchange rates."

He added, "The government has failed to control the currency auctions run by its financial institutions, and therefore it is unable to redraw an appropriate pricing for the Iraqi dinar against the dollar."

He pointed out that “the central bank sales of dollars are very large, and the volume of quantities in the market is doubled, and this will cause continued unrest.  LINK

Frank26 and KTFA Members "News and Views" Sunday 6-13-2021

KTFA:

Samson:  A group of unions and federations announces the launch of a national campaign to support the Iraqi dinar

13th June, 2021

A group of unions and federations announced the launch of a national campaign to support the national currency and the economy and increase the citizen's confidence in the dinar.

This group said in a joint press statement that "Al-Iqtisad News" received a copy, "A group of unions and federations announces the launch of a national campaign under the auspices of the Central Bank of Iraq to raise awareness to support the national currency and the Iraqi economy, and this campaign includes the Federation of Chambers of Commerce, the Association of Iraqi Private Banks, the Physicians Syndicate and the Iraqi Syndicate Pharmacists, the Engineers Syndicate, and the Dentists Syndicate, who represent a large segment of Iraqi society. 

The statement added, "This campaign aims to shed light on the importance of dealing with the national currency and increasing the citizen's confidence in it, for the contribution of all sectors to maintaining the exchange rate and maintaining inflation at low rates, and reducing the rates of poverty and unemployment through the entry of Iraqi and foreign investors to work inside the country, which It will lead to an increase in services provided to citizens, and this will have a positive impact on the economy.”

He pointed out that "this campaign also includes a focus on the fact that the owners of retail and services stores do not force citizens to sell their goods in dollars, but rather in the national currency "the Iraqi dinar", as shop owners get the dollars from the authorized currency sale at the official price, and they force the citizens to buy dollars. From the parallel market leads to an increase in its price, which affects the entire joints of the economy.” 

The statement stressed, "This campaign will include joint activities aimed at supporting the Central Bank's ongoing efforts in this regard through holding educational meetings and seminars."  The statement concluded, that the signatories to this national campaign areare Wadih Al-Handal, the head of the Association of Private Banks, the Syndicate of Pharmacists, Dr. Mustafa Al-Hiti, the President of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, the Doctors Syndicate Jassem Al-Azzawi, the Syndicate of Engineers, Azhar Hussein Saleh, and the Syndicate of Dentists, Dr. Abu Bakr Ziyad Al-Rawi.    LINK

Clare:  WOW!!!!!!!!!!...... THANKS SAMSON!   WHO TOLD US A "MASSIVE CAMPAIGN" WOULD BEGIN FOR THE CITIZENS..... YEP!! WALKINGSTICK & FRANK DID!!!!!!!!!!!!   WHAT ELSE DID THEY TELL US?- THEY HAVE A DATE!!!  IT IS ALMOST HERE. imo

Jerry1971:  WELL SAID CLARE THANKS TO SIR FRANK AND SIR WALKINGSTICK WHAT THEY SHARED WITH US IS SURELY BEING REVEALED THROUGH THE ARTICLES JUST HOPE THEY THE CBI SHOWS THE NEW EXCHANGE RATE SOONER THAN LATER IMO.

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FROM FRANK..........TOMORROW M CC WILL BE NUCLEAR!!!!!!!!!!!!!!!! ...........

KTFA KONA: GET READY ......... there was a reason why I canceled our YouTube for Friday night because in my opinion the CBI is now doing the campaign exactly as we told you it would come out therefore, in my opinion the rate is either with this campaign or follows just shortly after... as everything and everyone waits for the CBI governor to announce a new exchange rate for a new small category note,
Introducing a reinstatement of their currency... the RI .... Walkingstick and I are loaded for bear...SMILE...

Make sure you praise God today and thank you for what you are about to become...
I may have pain in my body but soon family you will have gain in your hands...END....FRANK26

SAMSON POST : A group of unions and federations announces the launch of a national campaign to support the Iraqi dinar ...
A group of unions and federations announced the launch of a national campaign to support the national currency and the economy and increase the citizen's confidence in the dinar..... The statement stressed, "This campaign will include joint activities aimed at supporting the Central Bank's ongoing efforts in this regard through holding educational meetings and seminars."

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Don961:  The fair exchange rate .. Who determines it?

Sunday 13 June 2021Baghdad: morning 

During the past few days, the economic circles have traded the term fair exchange rate of the Iraqi dinar against the dollar, which was refuted by specialists, and stressed that there is no room to talk about a fair exchange rate at this time and the situation in the country and the approved economic work mechanisms.  

Academic economist Dr. Qusay Al-Jabri stated that “a fair price is not an opinion that this person or that person puts forward, and when we talk about an appropriate exchange rate, there should be special models for estimating this price, and there are strong arguments to defend a specific exchange rate, and these arguments are behind it. Important economic goals, so they are not opinions.

Trade balance

He added, "No monetary policy can succeed without corresponding policies in the real sector (the production sector) so that it is possible to correct the conditions of the trade balance and the balance of payments, but changing the exchange rate and trying to reduce it is an incorrect policy whose inevitable result is the impoverishment of people and the strengthening of inequality in the distribution of income.” 

He pointed out that «strengthening economic stability in Iraq is not possible through monetary policy only or financial policy only, but rather comes from a system of effective and harmonious economic policies to achieve a set of goals, foremost of which stands in strengthening stability and giving a greater role for the private sector to absorb the momentum of unemployment and improve the balance of payments conditions. ». 

Currency value

Financial affairs specialist Ahmed Hathal explained that “some research determines the value of the currency on the basis of purchasing power in some countries or in the United States, and this is also inaccurate due to the different structure and structure of the production sector, as well as the quality of the commodity measured by it, even if we assume that the same factory produces in The United States and Iraq will have differences as a result of the difference in per capita income.”

Oil revenue

In turn, the economist, Samir Fikri, said: “Who can determine the fair value of the exchange, and our sources of income are determined by external demand and linked to international oil prices, so there is no so-called fair value, as it is a value that fluctuates with the fluctuation of oil revenues, and it will continue to do so as long as the growth of government spending depends on the sector.” Oil and non-oil GDP growth exceeds the so-called fair value.    link

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Don961:  Will Iraq succeed in overcoming its crises?

Sunday 13 June 2021  Yasser Al-Metwally 

 We do not bring anything new if we say that the entire global economy was affected by the financial crises and the pandemic, even in varying proportions, according to the capabilities of countries and their economies’ endurance to the shock of crises.

Reports and news indicate that a tangible recovery has occurred in the global economy as a result of the end of the causes of the financial crisis through the recovery of oil prices globally and the return of the recovery of trade and the global market accordingly.

As for the second reason, it is due to the decline of the Corona pandemic “Covid-19” after the discovery of relatively effective vaccines, so countries are rushing to take advantage of the opportunity to improve and recover in order to revitalize their economies.

The question here is, what is Iraq's share of these somewhat joyful results?

International reports and studies indicate that Iraq ranks "10" among the richest countries in the world in terms of natural resources.

Iraq possesses stockpiles of its natural wealth represented by oil, gas, coal, gold, copper, uranium, iron, phosphates and sulfur.

All of this is in addition to the revenues from border crossings, communications, aviation and transportation, but you find the Iraqi economy is still stagnant and if we do not say it is declining, what is the solution?

Therefore, it seems clear that Iraq's revenues are scattered and need two main factors in order to revive the Iraqi economy .

First, we need to invest the neglected natural resources throughout this period since the stage of change until now. Of course, the need necessitates approving the amendments to the investment law and working to attract specialized international companies and establish partnerships with them in order to find financial leverages capable of overcoming the financial deficit that caused the economy to stagnate.

Moreover, the need requires, secondly, to correct the course of the country’s fiscal policy through the proper management of public money, and this requires the speedy introduction of modern technology in obtaining state revenues through mechanization and electronic methods of obtaining governmental resources .

In addition, it is necessary to employ the rising oil price differences in order to activate the income-generating productive sectors.

At that time, whoever manages the economic file will be able to achieve the country's economic recovery.

Assuming stable trends in dealing with waste of public money and combating corruption, which has been talked about a lot.

We hope well for the recovery of the Iraqi economy in the near future, so that it can address unemployment, reduce the poverty line and the rest of the challenges that plague the country's economy, and to turn the page on the contradiction between the global perspective on Iraq's potential and the reality of the situation. LINK

Adviser to the Prime Minister reveals the details of the first economic reform program in Iraq and its launch date   LINK

Sheila:  This article very informative along with the other articles that keep saying words like launch, international, exchange rate etc etc.... 

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Samson:  Deputy: Preparing a supplementary budget is just talk, and the financial surplus will fill the deficit

14:12 - 13/06/2021

Representative of the Saeroon Alliance, Riyadh Al-Masoudi, confirmed, on Sunday, that talking about preparing a supplementary budget is just talk and there is no intention on the horizon by the government to prepare a supplementary budget for the current year, noting that the surplus funds resulting from the rise in oil prices will be used to fill the budget deficit for the current year.

Al-Masoudi said in a statement to Al-Information, that "the government has obtained large funds since October of last year until today as a result of the rise in oil prices, compared to calculating the price of a barrel of oil that was approved in Mwana in 2021."

He added that "there are parliamentary calls to prepare a supplementary budget, but in fact the government has no intention at the present time to prepare this budget and to talk about it is just talk," stressing that "the additional amounts will be used to bridge the deficit in the current year's budget."

It is noteworthy that there are several proposals on how to invest the surplus funds that will be achieved as a result of the price difference from the rise in global oil prices, especially since the budget relied on an amount of 42 dollars per barrel, in light of the plans of the competent ministries on how to invest those funds, which amount to nearly 40 trillion dinars, and will lead To reduce the fiscal deficit of more than 70 trillion.  LINK

Samson:  Investors are betting that oil will return to $100 a barrel

8th June, 2021

Commodity exchanges are witnessing an increasing demand for oil future contracts using the “options” method, which are purchased on the basis that oil prices exceed $100 per barrel by the end of this year or by the end of next year 2022. This seems to indicate that the markets expect the continued rise in oil prices to exceed their rates before they fell In the summer of 2014. Indeed, crude prices have increased this year so far by nearly 40 percent.

The Wall Street Journal published a report on "options" contracts that set the price of oil at $100 a barrel in December 2022, or even in December this year 2021. It says that what drives speculators to these expectations is the continued rise in the price of a barrel.

The price of US light crude (West Texas Blend) reached $70 a barrel, and the price of a gallon of gasoline in the United States reached $3.

It seems that speculators in "options" contracts do not care about the possibilities of market turmoil, and are betting on increasing demand for oil as the global economic recovery process continues from the crisis of the Corona virus epidemic. Although the oil market often corrects itself by supply and demand factors, the markets are encouraged by the possibility of higher prices, despite the high prices, as is currently happening, causing producers to increase their production, which raises supply against demand, which puts pressure on prices downward.  There is also the possibility of Iranian oil returning to export markets if the Vienna negotiations between Iran and the United States succeed in bringing Washington back to the nuclear agreement signed in 2015, and America withdrew from it in 2018.

What is the "Options" transaction?

Options contracts are one of the trading tools on the stock exchanges, and it is a high-risk and high-profit method. It is considered an investment derivative in the capital markets, as it is based on the value of the asset being traded, whether it is shares or physical commodities. A trader buys an options contract on a stock or commodity, giving him the option to buy or sell at a specific price at a specific time. In this case, he may sell or buy before the specified date if the price of the share or commodity reaches what is specified in the contract before its due date.

In this case, the profits are double, not like buying and selling in normal trading. The dealer can specify the option to buy or sell, and the execution of the contract on time is governed by its type, i.e. sale or purchase, and the loss will be great if the price of the stock or commodity does not reach the price on which the customer bought the contract on the basis of at the date of the contract. Some describe "options" contracts as being like lotteries because of the speculative nature and betting in them, but some investors use this investment derivative, to achieve permanent income from huge profits whenever their expectations are correct.

Optimistic forecast

Figures from the Quick Strike Company, which provides options trading data, indicate that oil contracts at a price of $ 100 a barrel are the most traded on the New York Mercantile Exchange, and it is currently the most traded among the West Texas Blend futures contracts. There are about 60,000 oil futures contracts already in place, covering up to 60 million barrels for December 2022 delivery.

Not only that, but some are speculating that the price of crude will reach a dollar a barrel this year. Options contracts are already in place covering up to 16 million barrels of West Texas blend for December 2021 delivery.

As for the Brent crude market in London, “options” contracts, which set the price of $ 100 a barrel for December 2021 delivery, already cover more than 32 million barrels. Although some speculators are not sure that oil prices will reach what they specified in the options contracts, they expect the price of “options” contracts to rise with the continued rise in crude prices, even if they do not reach $100 on the date of the contracts.  LINK

MilitiaMan And Petra Chat "We Are Witnessing The Roll-out-IMO" 6-12-2021

KTFA:

Buckeyetree:  I liked Militia Man's words from his discussion with Petra posted in Final Article Below….As follows:  "Everyone is not only ready, but they are in need."

Those words summed up their discussion in that one statement. I would say that everyone is reference to the countries and big banks dealing with Iraq, but I include the idea of everyone being ready as all of us who have been waiting along with them.

End of June would be end of the 2nd quarter of the year less than 3 weeks. May all be done sooner than later. It seems like the big banks, WB and BIS, are looking to get it done.

FROM MM & PETRA:

MilitiaMan:  Everything is coming true? Well not sure everything but many things are ringing true.. imo.. One thing I note to day was the SWISS / FRANCE did a digital cross border payment test / experiment. Interesting timing of that. Why? Well to me is because the Swiss have money to give back to Iraq and France has deals with Iraq. The Swiss are very well versed in Banking and for many many moons.. lol Digital Euro? Digital Dollar in the BUNA, Digital currencies were a theme at the meetings the last month real close. Digital; currency swaps .. That is a massive sign.

Those 500 Bankers and Central Bankers were all about the digital transformation to come. The UST told us last Saturday they have ACIEVED GLOBAL REFORMS... Yet, the infuse 500 billion into the REPO markets daily.. That is not sustainable. They need to adjust imo immediately.. Hence we see imo the SWISS / FRENCH test if you will.. WOW! ........MilitiaMan

https://www.ledgerinsights.com/central-banks-of-switzerland-france-in-wholesale-cbdc-trial/

Petra:  Good stuff up above MM.... I read the article MM that the link you sent good stuff.

MilitiaMan:  So they did testing 6 months ago too.. "Six months ago, the Swiss National Bank shared the results of Project Helvetia, where the conclusion was it was a success, but more work is needed." So more work has been initiated.. imo........

Petra:  Ok, I will be serious. One must ask....why Switzerland? Why didn't France go to Belgium or Germany to do the "test!" Switzerland is the story!!....PETRA

MilitiaMan:  So more work has been initiated.. imo…

Why is the world Bank so giving now? lol "With regard to the role of the World Bank in improving Iraq’s economy, Numan stated that “the Bank is working with the Government of Iraq to implement the reform items that it has drawn up, and we are working through all our projects to approach the economic crises that we have previously identified, and all the projects we undertake are within the framework of supporting the paper White reform. He pointed out that "Iraq has drawn up a policy to improve the country's economic reality by adhering to the reform white paper approved by the Council of Ministers, and work has begun to implement its contents.""….. There you go. They are implementing the WPs…

Petra:  I had opined the other day the amount of interaction the WB was having with Iraq. They are definitely at the back...pushing!

MilitiaMan:  This was today.. "Today the Swiss National Bank announced it’s participating in a wholesale central bank digital currency (CBDC) trial with the Banque de France, and the BIS Innovation Hub. The solution aims to use the digital Swiss Franc and digital Euro to settle cross border trades for financial instruments such as stock or bonds on a blockchain. The central banks don’t want the tests to be interpreted as a decision to launch a CBDC."….

Look at the targets.. "Benoît Cœuré, Head of the BIS Innovation Hub, also involved in Project Helvetia, observed that Project Jura complements other BIS work that targets a G20 goal to improve cross border payments. The BIS is participating in a multi-CBDC trial in Asia with the central banks of Hong Kong, Thailand, China and the UAE. Plus, there’s another test with the Monetary Authority of Singapore, Project Dunbar, for a single distributed ledger system to be used for multi-CBDC cross border payments by commercial banks."

Petra:  Thanks MM....I have a theory on that but need to noodle on it! I find it interesting they are moving this direction...with the BIS involved. No mention of WB or IMF....this is farther along IMO…

MilitiaMan:  Well the G-7 and UST said they "Achieved Global Reform" on Saturday last. Then the World bank on Tuesday says they are working with Iraq on the WP reforms.. See the connections. SWISS and France going for cross Border settlements in CBDC... No coincidences.. imo

Petra:  No. And when they "talk" about it...you know it's much farther along. This is all Fintech....great way to work out the currency swaps! Time for those swaps to come home!!!! IMO..

MilitiaMan:  The key is the UST has given the NOD if you will.

Petra:  Yes. And I am hoping while Mr. Biden is talking that the real business is being done down the street. They are all in town anyway...why waste a good business lunch!!!

MilitiaMan:  The testing 6 months ago was a success.. Work was still needed, but, they said it was a success back then.. 6 months has passed.. A Lot of work can be done in 6 months. Iraq Devalued 6 months ago, real close...

Petra:  Yes MM. And they are good at hiding it but leaving just enough information for speculators on both sides of the equation to be aware. Change is coming and we are sending out the warning flags. This week at G7....QFS...UST Decision. And now BIS stepping up with new cross-border payment "testing."

MilitiaMan:  That my friend is a very good point about warning flags.. The REPO market is SCREAMING ICBERG AHEAD!!!! While the Ship is at full speed...

Petra:  Yes. And you know these very subjects were addressed as I believe I saw the agenda including many "digital" discussions.

MilitiaMan:  They have to act... To not .. The ship (GLOBE) is going to the bottom and quick.. imo

Petra:  I think MM and I would agree. But, what is sticking in my head is that 3B that CBI just through out there to "calm" the markets.

MilitiaMan:  FIMA - CML was put in place for this.. imo…

I am still thinking that is not a calming effect. I think that may be more likely to be a different sort of Calming effect. Spending 5% of reserves still reeks of what will calm the people and the markets.. That is the mechanism we await.

The mechanism will calm the street and the vendors.. As they will not be needed any more.. Or at least as they are being used now.. imo.. Digital makes them go away..

What if the issue 3 billion worth of NSCNs?  (New Small Category Notes) That would be one qualude to the market .. lol….

They know they have to bleed the citizens as fast as possible. Hence the threats of 1600 and 2000... Sadly those that fall for it will be kicking themselves then they'll be hunting down those that took advantage and even possibly return the favor.. lol…

Petra:  Well yes. By Iraq moving to a digital marketplace (Visa/MC) and reducing significantly the use of "Cash" drives the digital strategy. So, why would they need exchangers? They would not! When the CBI changes the rate, or holds a rate, fine! It's all digital, and nobody can game the system anymore. Money changers will be looking for a new job VERY soon. IMO…

MilitiaMan:  Squeeze play.. Is on.. " They added that one of the most prominent problems they suffer from is that "the bank's branches force the owners of electronic outlets and exchange companies to receive small paper currencies of the category (5-10) thousand dinars, and they refuse to hand over the amounts they want to withdraw in large denominations."

They explained that "this matter represents a security crisis for them, as they will have to carry and move large amounts of money, noting that some of their outlets are about 60 or 801 km away from the bank's branches, in addition to their financial losses because many of these small paper currencies are damaged and cannot be exchanged for customers."" Imo…. They may be looking for another place to live too.. imo

Petra:  To have some abstract thinking MM..........what if this BIS/France/Swiss "testing" is not a "test" but a DEMONSTRATION to all the CB's in the world. To show at least the digital portion of the transaction can occur in seconds on the Blockchain!!!!! They can talk about their crypto currencies later but what if this is a "hidden" factor for large transnational currency swaps. oooooohhhhhh I am liking this thought!!!! And with less oxygen!!!!!

MilitiaMan:  Lol Petra... They already said they had success, so I can see your theory as being potentially spot on!

Petra:  That’s where the thought came from. If they "test" on the basics was done....then the "Final Exam" to show the world they can do it. Then perfect! Oh yes, and who is overseeing all this?? The BIS!!!!

MilitiaMan:  Look at all the names they dropped in that link and then look at all the #s at the bottom.. They all have #s lol They are already getting attention..

Who has been gathering the all the Bankers? Yep.. BIS…

K has been in the news giving his support to the country.. "“The government managed, despite the heavy legacy and great challenges, to accomplish important steps on the path of reform, and to save the country financially and economically, and it is trying hard, with plans and strategies that have been completed.” preparing it to put the country on the right pat"…

So he is telling us that the accomplished important steps to fixt the country financially and economically. That is MR and ER... They have it now being implemented.. imo…

Think new system. Think new TEST with the cross border payments.. "The banking system is required to have plans that support development."..

"In turn, the financial affairs specialist, Faeq Nasser, said that "the development of the private banking system and its adoption of advanced technology, which is relied on in international banks, contribute greatly to addressing all economic problems, as it will provide the necessary funding for important projects.""

They will have transparency.. Advanced technology requires it.. imo…

Petra:  Well there you go MM. That's right from the horses mouth...so to say.

MilitiaMan:  In other words.. Do you have the new system in place and ready to go ERBIL? "The meeting also touched on the need to review the banking system in the region to support investments and investors and strengthen the private sector. The meeting also discussed the issue of implementing the general budget law for the year 2021, where the US Consul expressed his full support for the government's efforts in this regard."…

No kidding right.. We support the move to a market economy and so by that along with the WB show us the rate already.. lol…..

Petra,, Just thinking.. This is not billions.. This is merely "" hndreds of milions 200 real close a day..""The increase in central bank sales for the purpose of reducing the price of the dollar because there is a rise in prices and monetary inflation, so the bank tries to stabilize the financial market and prevent and limit speculation, pumping quantities and creating a balance between supply and demand because economic activity in general is weak and not at the required level.""

Dont' forget the CBI need coordination... They imo are fully aware of the action on the street.

IMO that is where I am leaning to.. That 3 billion is not hundreds of millions..

Petra:  Yes MM. no question CBI has their eyes all over it. Not to mention tempering perception on the streets!This is all being set up for the big reveal IMO. Why did they wait until now to do this? Execution of a strategy!..

MilitiaMan:  Take it into a business sense now.. Who is talking about supporting reforms? The USA is, Great Britain is and so is the World Bank…

Yes, $3 billion at a new rate is not a lot of currency..

That is why, I keep coming back to that issue…. Spending 5% of current reserves makes little sense when they are to go to a market economy. When I say the USA, GB and the WB are in support, they are almost literally telling them to go now.. We have your back….

Petra:  Yes. Support is strong and timing, based on our previous discussion…the mechanisms are ready. Digital plus rate are the 2 mechanisms of which I infer…They want to control the release of the NSCN’s in order to force the digital economy… So how much cash needs to be out there in circulation is the question........

MilitiaMan:  Petra, think about this idea.. They know the street is inflationary.. They are using millions to stabilize the rate.not billions. But, they are working to keep it stable. Thus, when theydo change the rate if they happen to be stable.. Then my view is that they will have a better rate than 1460 can offer.. Make sense? lol...

"it is noteworthy that the local markets in Iraq have witnessed a significant rise in the exchange rate of the dollar for days, which exceeded more than 1500 dinars."

"The Central Bank also sold through the currency auction, and for the second day, the highest amount of the dollar, as it exceeded today, Thursday, 218 million dollars, which is an unprecedented amount since the bank raised the price of the dollar on January 19 last."

Notice not billions.. They even got the day and month wrong.....

Petra:  Absolutely MM. it’s all about the math now. The street speculation and fear of loss has got to stop. This money is a short term stopgap imo.

Got it MM….therefore we both are right. Millions is a short term solution. Tick tock!...
 
MilitiaMan:  Petra... "Iraq has signed a heads-of-agreement deal with French firm Total (TOTF.PA) spanning four projects involving natural gas, solar energy and seawater reprocessing, the oil ministry said on Monday. ... The agreement was signed during a visit by Total CEO Patrick Pouyanne, it said. Mar 29, 2021"...SWISS / FRANCE today.. Like I said... ENERGY..BINGO..

Petra:  The squeeze is happening...

MilitiaMan: This doesn't add into the billions very fast.. imo "The statement added," The increase will be as shown below: The share of the bank is $300,000 per week - the share of a class A exchange company is $2,200,000 per week - the share of a class B exchange company is $750,000 per week The share of the Class C exchange company is $70,000 per week."...

Petra:  The math to billions doesn’t play out at those numbers MM. something else is afoot....

MilitiaMan:  The move is on folks.. big time imo... "The Minister of Oil issues a directive regarding major investment projects"Talabani confirms the readiness of the Kurdistan government to support American investors in the region"“the Bank is working with the Government of Iraq to implement the reform items that it has drawn up, and we are working through all our projects to approach the economic crises that we have previously identified, and all the projects we undertake are within the framework of supporting the paper White reform. He pointed out that "Iraq has drawn up a policy to improve the country's economic reality by adhering to the reform white paper approved by the Council of Ministers, and work has begun to implement its contents."...

Petra:  This all takes….funding. WP execution. But, all have great plans as you have indicated MM but nothing is EXECUTED until the RI of the IQD...

That has started or they wouldn't have had the interconnection with the new test.. imo... EVERYONE is not only ready, they are in need..

Petra:  That’s where we are going MM. in support of our theories an hour or so ago. The data supports the theory. Evidence that demands a verdict!!!..

MilitiaMan:  The GCC is linked digitally.. BUNA. He pointed out that the Iraqi market is a very important market for Bahraini exports, and this is evident through the growth of those exports by up to 47 percent in the year 2020 compared to 2019. He added that there are aspirations and a serious will from the Gulf Cooperation Council countries towards increasing economic and investment cooperation with the Republic of Iraq as a basis for development and prosperity in the Arab region. He noted the importance of his meeting with the delegation of the Bahrain Chamber of Commerce and Industry to allow the Iraqi side to study the best ways to activate cooperation between the two countries commercially and economically. "activate cooperation " We are witnessing the roll out.. imo..

Petra:   Buna is THE platform!! Integration, digital, transnational trade…all….waiting..And ongoing planning to insure success!...

MilitiaMan:  They are seriously showing regional reconciliation and global.. imo..This is about the Oil market! "A member of the Parliamentary Finance Committee, Salim Cougar, confirmed, on Thursday, that the rise in the oil price will provide cash liquidity, and the Central Bank has allocated three billion to control the market." This is about financial liquidity for imports.. "Cougar said in a statement to the agency / Information / that "the rise in oil prices will provide cash liquidity, and the Central Bank has allocated three billion dollars to control the market and raise prices," noting that "financial liquidity will control the price of food and commercial products."" 

Not the exchange rate. He goes on.. Talks about the Auctions. It is not $3 bilion.. "He added that "the central bank has sold 460 million dollars in the currency auction to control the market prices," noting that "the rise of the dollar is the result of supply and demand."" 
460 million...

Petra:  Yes they are. Sure a lot of talk!! Most GCC countries are engaged. AMF is active in the background with the WB holding their hand to get them to the endgame! IMO....Well, if that’s the case MM…then the $3B is for…..P

MilitiaMan:  The $3 billion may have had to have to clear the import ledger.. That is imo to be expected at the last push to the market economy.. ? imo.... MilitiaMan

Petra:  They are using the same reason for the auctions as for the liquidity and price stability. imo  Of the $3b.....

KTFA Members "News and Views" Thursday PM 6-10-2021

KTFA:

Hammy14:  Once again.....promises made, but not promises kept.  When are we gonna see ACTION as opposed to just a bunch of hot air?  Implement the reforms, Iraq.  Open your budget.  Talk is cheap....  

Iobey777:  YEP! if they keep messing around, the citizens are just going to start rioting again and tearing things up! It's a vicious cycle in Iraq! They have been TOLD to get it finished by those who are watching...if they don't get it done soon, then they will reap what they have sown! Those poor citizens deserve better than what their Gov't and CBI is giving them! We can SEE that they are working towards it thru the articles, and IMO, the articles tell us it's SHOW TIME!! Just DO IT!

Samson:  Parliamentary Economy: The rise of the dollar broke the back of the citizen, and the government must intervene

06/10/2021 14:06:23

The Parliamentary Economy and Investment Committee warned of the repercussions of the continued rise in the dollar exchange rate in local markets.

  Committee member Nada Shaker said in a press statement, "The rise in dollar prices in the Iraqi markets broke the back of the citizen," stressing that "the government must control the markets and prevent the rise in commodity prices." She added, "The government and the political blocs that approved raising the price of the dollar at the end of last year bear the responsibility for stabilizing the markets," noting that "the exacerbation of prices generates many problems for citizens."

Shaker confirmed, "The House of Representatives had previously requested to host the Central Bank Governorate against the background of raising the price of selling the dollar to banks to 1460 dinars, but some blocs did not support the step," pointing out that "the efforts to interrogate the Minister of Finance in the House of Representatives during the previous period did not succeed for the same reason." 

The exchange rate of the dollar rose against the dinar in the currency markets in the regions of Kurdistan and Iraq, in an unprecedented way, as it exceeded more than 1500 dinars.  LINK

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Samson:  The government..the economy..and the citizen

17:16 - 07/06/2021- Books / Qassem Al-Gharawi

The Iraqi parliament voted at the end of last March, by majority, on the draft federal budget law for Iraq for the fiscal year 2021, with a total of 129 trillion Iraqi dinars, while the ceiling of crude oil exports was set at a rate of 3 million barrels per day, including 250 thousand barrels from the fields of the Kurdistan region at a price of 45 dollars per barrel.

Lifting government support from the exchange rate represents one of the most daring decisions of the Al-Kazemi government, which caused an increase in prices.

Because of it, the Iraqi market was hit by severe turmoil after the dollar exchange rate was raised, and the first signs of this turmoil is the tangible increase in prices, as well as the suffering that affected many economic sectors in this market and thus the impact on the life of the citizen, according to the World Bank report, which confirmed that about Millions of Iraqis are threatened with poverty as a result of the Corona pandemic and the drop in the price of a barrel of oil.

A double shock received by the Iraqi citizen by the increase in the poverty rate and the difficulty of life in light of the reduction in the price of the Iraqi dinar against the dollar due to the financial and monetary policy of the Ministry and the Central Bank.

Despite the fading of the panic from the Corona pandemic and the return of oil prices to a rise again towards a level of more than 70 dollars per barrel due to the increase in demand resulting from the return to operating the stalled factories in the world and the desire of the United States of America to restore its strategic oil reserves, the Iraqi reality remained in a state of crisis, and the market still poses a great challenge to the citizen. The Iraqi government is without a solution in light of an economic, financial and monetary policy and a reform paper adopted by the government to face the economic challenges at a time when the vision of the suffering of the people was absent.

At a time when the global economic situation indicates the stability and recovery of markets after economic challenges and expectations of an increase in the price of a barrel of oil, the economic policy in Iraq did not succeed in its expectations for the price of a barrel of global oil for 2021, contrary to global expectations, and therefore the budget relied on expectations that the price of a barrel of oil would continue to be $45 The difference in the price saved millions of dollars. However, the increase in the dollar exchange rate did not achieve the goal of controlling market prices and creating a balance in them, as evidenced by the fact that the bank is still selling more than 200 million dollars.

The approach of corruption in the Iraqi state is the first reason for this decline, and the approach of political quotas is what led to the deterioration of the economic file, as well as the intervention of politics in the management of the economic file and the diligence of politicians in it for their interests that are related to their banks and the profits made as a result of buying and selling the dollar and smuggling it abroad.

The reconciliation of the higher authority concerned with covering market transactions in dollars with black market dealers and monopolists of currency will necessarily lead to the situation remaining unaddressed, as the current government with its financial policies that have robbed Iraq’s economy of its most sensitive joints and increased poverty rates within a few months to unprecedented levels, it will be written that be the worst government in the record economic performance.  LINK

Samson:  Central: Increasing the amount of cash sales of foreign currency

10th June, 2021

Decided the Central Bank of Iraq, Thursday, increasing cash sales amount of foreign currency.

According to Information Office of the Bank, in a statement received / scales News / copy of it: "For the purpose of meeting the demands for foreign currency and for the purpose of achieving the goals of monetary policy and ensure exchange rate stability, the Iraqi Central Bank decided to increase the amount of cash sales of foreign currency to the banks and all licensed exchange companies and all companies to broker the sale and purchase of foreign currency and all met in full."

The statement added," The increase will be as shown below: 

The share of the bank is $300,000 per week
- the share of a class A exchange company is $2,200,000 per week
- the share of a class B exchange company is $750,000 per week
The share of the Class C exchange company is $70,000 per week.  LINK

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Samson:  Parliamentary Finance: The Central Bank Should Exclude Banks That Manipulate The Exchange Rate From The Currency Auction

9th June, 2021

The Parliament's Finance Committee proposed a solution to the crisis of the high exchange rate of the dollar against the Iraqi dinar in the market, while it presented 3 options to the Central Bank of Iraq to solve the exchange rate crisis.

Exchange rates in exchange offices and local markets in the capital, Baghdad, rose to about 1492.50 dinars for purchase, and 1502.50 dinars for sale.

Member of the Committee, Representative Ahmed Rashid, said in a press statement that the Independent followed today, Wednesday, that "the Central Bank confirmed before applying the new dollar exchange rate that the price is fixed at 1450 dinars per dollar, and is not subject to change, but banks and exchange companies did not adhere to this."

Rashid explained, "The Central Bank is faced with the options of issuing warnings and penalties, or excluding banks and companies that manipulate the dollar exchange rate or increase the supply."

And a member of the Finance Committee stated that "increasing the dollar's supply will lead to a reduction in prices, because the greater the supply than the demand will lead to a decrease in the exchange rate, and therefore this depends on the dollar's pumping into the markets by the central bank."

Since the collapse of oil prices earlier this year, Iraq is facing an unprecedented liquidity crisis, the government of Prime Minister Mustafa Al-Kazemi was forced to borrow from the bank’s reserves in dollars to repay nearly $ 5 billion per month, representing public sector employee salaries and pensions, followed by a decision to reduce the value of the Iraqi currency against the dollar.

The decision sparked a wave of anger in the Iraqi street, but Al-Kazemi defended his government's move and said that he had two options, "either the collapse of the system and entering into complete chaos, or we enter into a Caesarean section for reform."  LINK

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Samson: UK Foreign Secretary: British companies are on the cusp of investing in Iraq

8th June, 2021
British Foreign Minister Dominic Raab said that there are British companies on the cusp of investing in Iraq.

Raab added to the “Tenth” program, which is shown on the Al-Iraqiya news channel, followed by the Iraqi News Agency (INA), today, Tuesday: “I had very important meetings with Prime Minister Mustafa Al-Kazemi and Foreign Minister Fouad Hussein, and I was proud to sign on behalf of my country a strategic agreement with Iraq.” He added, "Britain supports Iraq in the areas of elections, the economy and security, as it provided one million pounds to monitor the upcoming elections in order to be free and fair."

The minister pointed out that "his country encourages Iraqi security leaders to come to the United Kingdom for the purpose of training." He explained that Iraq has a starting point towards a bright future, and Britain is there to support it, stressing that "Britain provides joint support to Iraq because it is part of NATO."

The British minister continued: "The Iraqi security forces can take control of matters, and we support them with that."

Regarding the white paper, Raab said that he "discussed with Prime Minister Mustafa Al-Kazemi the white reform paper to support the Iraqi economy and push it forward," noting that "there are opportunities to attract investment to Iraq."

The British Foreign Secretary stressed "the need not to depend on oil and gas, and the industrial and agricultural sectors can be developed," noting that "his country will support the Iraqi government in achieving the goals set in the white paper." He pointed out that "there are British companies on the cusp of investment in Iraq," stressing that "there is a fertile ground for investment in Iraq."  LINK

KTFA Members "News and Views" Wednesday Afternoon 6-9-2021

KTFA:

Politician: Corruption whales made money by buying real estate and played with the citizen's strength by raising the price of the dollar

19:35 - 06/08/2021

Political analyst Haitham Al-Khazali confirmed, on Tuesday, that the rise in the price of the dollar was offset by two phenomena, the first of which is the rise in real estate prices, and the second is the increase in central bank sales of dollars, which were the fruits of whales of corruption.

Al-Khazali said in a statement to “Information” that “the rise in the price of the dollar was offset by two phenomena. Raising the price of the dollar is to prevent currency smuggling and preserve reserves.”

He added that "the process of the dollar's rise is a political process, not an economic one, and there are whales who are benefiting from the rise of the dollar." He pointed out that "Iraq imports everything in dollars, and reducing it will be in the interest of the country, not the other way around."

It is worth noting that the dollar exchange rate in the market has reached 150 thousand per note, and experts have confirmed that there is a possibility for the price of one note to reach 155 thousand dinars.

LINK

Kurdistan government: We are close to implementing the budget agreement with Baghdad  LINK

Iobey777:  Yeah?? well JUST DO IT already!! IMO, you have been told to get it Finished!! The world is watching and waiting! 

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Samson:  Parliamentary Integrity announces the recovery of more than $ 20 million from Iraq's frozen funds

9th June, 2021

The Parliamentary Integrity Committee announced, on Wednesday, the return of more than 20 million dollars of funds frozen outside Iraq since 2003, while revealing the total size of those funds

Committee Rapporteur Abdel Amir Al-Mayahi said, "The Parliamentary Integrity Committee is following up the file of the return of smuggled funds directly with the Recovery Department of the Integrity Commission," noting that "more than 20 million dollars of frozen funds outside Iraq have been returned to banks of Arab and European countries a year ago." 2003", according to "Conscious

He added, "The funds frozen abroad exceed one billion and 417 million dollars, as the process of returning them requires serious government work," noting that "returning those funds does not require effort but rather seriousness by the government, and this is the role of the Ministry of Foreign Affairs by making understandings with those countries." To determine the mechanism for the return of funds

Yesterday, Tuesday, Minister of Justice Salar Abdul Sattar announced that the UN Security Council had issued a resolution to release the seized Iraqi funds

Earlier, the Ministry of Foreign Affairs confirmed its escalation of steps to return the frozen funds from various countries

The ministry's spokesman, Ahmed Al-Sahaf, said that "the ministry is pursuing the frozen funds in various countries, as we succeeded in recovering more than 25 million dollars that were in Germany and handed over to the competent Iraqi national authorities," stressing that "our steps in this direction are escalating and growing  LINK

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Samson:  Brent crude reaches $ 72.59.. The rise in oil prices in global markets

9th June, 2021

Oil prices recorded, on Wednesday, a rise for the second session, due to indications of strong demand for fuel in Western economies, while the prospects for the return of Iranian supplies faded, as the US Secretary of State said that sanctions imposed on Tehran are unlikely to be lifted.

Brent crude futures rose 37 cents, or 0.5 percent, to $72.59 a barrel at 0520 GMT, and earlier rose to $72.83, the highest level since May 20, 2019. Brent rose 1 percent on Tuesday. US West Texas Intermediate crude futures jumped 39 cents, or 0.5%, to $70.44 a barrel after rising to $70.62, the highest since Oct. 17, 2018. WTI prices rose 1.2% on Tuesday. “It appears that the improved demand outlook is boosting crude oil prices, as the successful vaccine launch and summer driving season in the US and Europe continue to support fuel demand,” said Margaret Yang, a strategist at Singapore-based DailyFX.

Recent traffic data indicates travelers are hitting roads as restrictions ease, ANZ Research analysts said in a note, pointing to TomTom data that showed traffic congestion in 15 European cities reached its highest levels since the start of the coronavirus pandemic. The US Energy Information Administration on Tuesday expected fuel consumption growth this year in the United States, the world's largest oil user, to reach 1.49 million barrels per day, up from a previous forecast of 1.39 million barrels per day.

In another positive sign, industry data showed that US crude oil inventories fell last week, in line with analyst expectations, according to a Reuters poll. Two market sources, quoting the data, said that the American Petroleum Institute reported that crude stocks fell by 2.1 million barrels in the week ending June 4. Stock data from the US Energy Information Administration is scheduled to be released on Wednesday at 1430 GMT.  LINK

Samson:  Vietnam : Moody's raises HDBank's credit rating outlook from stable to positive

5th June, 2021

Moody's Investors Service has affirmed the B1 long-term local and foreign currency deposit and issuer ratings for the Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank).

It has also changed the outlook on the long-term deposit and issuer ratings of HDBank to positive from stable.

The positive outlook on the ratings of the bank reflects Moody's view that improvements in asset quality over recent years, which could translate into lower credit costs and higher profitability, could raise the banks' baseline credit assessments over the next 12 - 18 months. Moody's expects profitability to improve over the next 12-18 months because of higher yields from loans to individuals and small and medium enterprises, and improvements in asset quality, and capital to remain stable because internal capital generation will support asset growth.

Amid the difficulties caused due to the COVID-19 outbreak, which made Moody's lowering the credit ratings of some organisations, HDBank's credit rating was unchanged throughout 2020, underlining its capacity to adapt to new situations to sustain growth and keep implementing its development strategy even in difficult times. This was once again reflected in its results in the first quarter of 2021 when its consolidated pre-tax profit topped VNĐ2.1 trillion (US$91.1 million), a 68 per cent rise from the same period in 2020.

Its standalone pre-tax profit was over VNĐ1.8 trillion, a year-on-year increase of 88 per cent. Its return on equity and return on assets were 26.3 per cent and 2.1 per cent. Its capital adequacy ratio (based on Basel II standards) was over 12 per cent, and asset quality and liquidity remained at high levels. The ratio of short-term funds the bank used for medium- and long-term loans was 23.4 per cent against a maximum of 40 per cent allowed by the State Bank of Vietnam. Cost management continued to improve, with its cost-to-income ratio falling to 39.1 per cent from 51 per cent a year earlier.

As it contributes to supporting the economy and walks hand in hand with customers under challenging circumstances, besides ensuring safe and stable business operation, HDBank has also spent tens of billions of đồng on community support activities and set aside large sums for preferential credit programmes to help customers overcome the difficulties caused by COVID-19.

Previously, based on positive assessments of Việt Nam's economic growth and its effective control of the epidemic in 2020, and its positive outlook for growth, Moody’s retained the Government’s long-term issuer and senior unsecured ratings at Ba3 and upgraded the outlook to positive from negative.

Việt Nam is the only country in the world for which all three major western credit rating agencies (S&P and Fitch being the others) changed their ratings outlook to positive.    LINK

Monday Night KTFA CC "Implementing A New Mechanism" 6-7-2021

KTFA:

Monday Night KTFA CC

FRANK26.......6-7-21......IMPLEMENTING A NEW MECHANISM

This video is in Frank’s and his Team’s opinion

The Team: Walkingstick, Petra, MilitiaMan and Eddie from Iraq.

Playback Number: 605-313-5163  PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=KvHl0PzgjYA