KTFA Members "News and Views" Monday 2-7-2022

KTFA:

Clare:  TAKE NOTE EVERYONE: “Legal expert Ahmed Al-Abadi revealed that if Parliament fails to pass the President of the Republic, the current president will continue his duties normally, until the next elections are held after 4 years” (FROM POST #77)

AND PARLIAMENT HAS BEEN VOTED IN AND THEY ARE WORKING…IMO

THANK YOU SAMSON!

Clare Cont…..POST #52

Samson: The Speaker of Parliament issues a directive on the federal budget for 2022

7th February, 2022

Today, Monday, Parliament Speaker Muhammad Al-Halbousi issued a directive on the federal budget for 2022

The Council’s media department said in a statement received by the Iraqi News Agency (INA), that “the Speaker of Parliament, Muhammad al-Halbousi, directed the General Secretariat of the Council of Representatives to address the General Secretariat of the Council of Ministers to send the federal budget for 2022

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Al-Halbousi directs to address the secretariat of the Council of Ministers to send the 2022 budget  LINK

FROM POST #65

For his part, the Deputy Speaker of the House of Representatives, Shakhwan Abdullah, explained that the House is continuing to exercise its oversight and legislative role, and that the discussions of the political blocs regarding the selection of the President of the Republic will not affect the House of Representatives in exercising its supervisory and legislative role entrusted to it

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Paulette: IMO……We have seen this litigated in previous years……..A “Caretaker Government” cannot make any new laws and therefore cannot send any laws to parliament

Clare: THAT IS NOT ALL LAWS…….. ESPECIALLY IN COUNTRY… THE RESTRICTIONS ARE SPECIFIC, HOWEVER, WS TOLD US IN THE PAST A “CARETAKER GOV” IS A FULLY FUNCTIONING GOV. IMO

DCDriver:  IF a caretaker government continues, it certainly doesn’t portray security and stability. I don’t see how a rate change can happen in that environment IMO

Monkey:  remember in all this aparent confushon, NOTHING NOTHING NOTHING NOTHING then………….kaboom!!!!!!!!!!!!!!! Frank and WStick and Eddie and Neil are NOT wrong – this canot fail the citizens or the Fab4   IMO

Clare: SIT BACK & WATCH IT PLAY OUT…. YOU’LL BE PLEASANTLY SURPRISED.THERE MAY NOT EVEN BE A CARETAKER GOV…WE SHALL SEE… RIGHT NOW THEY ARE A LAME DUCK GOV. WE WATCH & PRAY, IT IS ALMOST DONE… IMO DO YOU THINK THEY ALWAYS FOLLOW THEIR CONSTITUTION? LOL

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Samson:  State Of Law: Foreign Wills Impose An Economic Blockade On Iraq

7th February, 2022

A member of the State of Law coalition, Adel Maneh, confirmed on Monday that the white paper that the current government spoke about is the demand of the World Bank and the International Monetary Fund.

Mana said to the “Information” agency, “The foreign will that wants to impose a new siege on Iraq, but in a different economic way, by raising the dollar exchange rate and decreasing the Iraqi currency,” noting that “what the government has prepared are recommendations for the World Bank.”

He added, “The only solution to return the exchange rate to what it was previously is for politicians to be stripped of their own benefits, and thus look at the people and try to meet their service requests,” noting that “when we reach the stage of gradualism away from political benefit, then we can say there is a group Government measures, including adjusting the exchange rate.”

A member of the State of Law coalition explained that “the exchange rate is not the only requirement as much as it represents a part of the government movement that should be towards the Iraqi people,” noting that “the white paper that the current government, the Ministry of Finance and the Central Bank of Iraq spoke about is a requirement of the World Bank and the IMF.” International Monetary”.  LINK

Samson: The growth of hard currency reserves in Iraq to more than 64 billion dollars

7th February, 2022

The Central Bank of Iraq revealed today, Monday, a growth in the country’s hard currency reserves to reach more than 64 billion dollars.

The Deputy Governor of the Bank, Ihsan Shamran, told Shafak News Agency, “Iraq’s reserves of hard currency, which includes the cash currency of the dollar, the euro, sterling and other other foreign currencies, in addition to the gold reserves amounted to more than 64 billion dollars,” noting that “there is a continuous growth in these reserves are hard currency.

Shamran added that “the volume of Iraq’s gold reserves is 96 tons,” explaining that “Iraq began with the rise of the sequence globally, reaching the 38th rank globally by owning the largest gold reserves in the world.”

On January 19, the Central Bank of Iraq announced a significant growth in its foreign currency reserves last year, thanks to its diversified investments and management in accordance with monetary policy based on international best practices away from risks. LINK

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Samson:  The Baghdad Investment Commission introduces “large revenues” into the state treasury

7th February, 2022

A source in Baghdad Governorate revealed on Monday, large revenues achieved by the Baghdad Investment Authority.

The source told Shafak News Agency; The Baghdad Investment Commission, through following up on investment projects in the capital, was able to enter more than (53 billion Iraqi dinars) for the investment licenses in force, according to what was stated in an official letter sent by the Baghdad Investment Commission to the Federal Revenue Distribution Monitoring Commission through rental allowances for investment projects after the end of the period First Employment and Ownership Allowances.

The source added; That “this number is the highest in the history of the authority.”  LINK

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Samson:  A Record Rise In The Rate Of “Domestic Cash” Outside Iraqi Banks In 2021

7th February, 2022

The economic expert, Manar Al-Obaidi, revealed, on Monday, the high proportion of the local monetary mass outside the scope of Iraqi banks at the end of last year.

Al-Obaidi said, in a Facebook post followed by / the information, that “the local cash outside the banking system has increased by 50% since the beginning of 2020 to reach more than 70 trillion dinars at the end of 2021, after it was 47 trillion dinars at the beginning of 2020.”

He attributed this to “the weak banking culture and the lack of confidence in the banking system, which kept many from dealing with local banks.”

The expert explained that “deposits with Iraqi banks increased by 15% to reach 93 trillion dinars, after it was at the beginning of 2020 81 trillion Iraqi dinars,” noting that “the ratio of cash outside the banking system to the volume of deposits is about 75%, which is a high percentage. Very much compared to other countries.

He pointed out that “the private sector deposits constitute 45% of the total deposits, while government institutions’ deposits amount to 27%, while the central government’s deposits with banks amount to 28%, in contrast, the contribution of the banking and insurance sector to the GDP is less than 1.5%.”

He called for “the adoption of banking policies that increase confidence in the banking sector, as well as the adoption of stricter policies in monetary transactions outside the banking system that would increase the value of deposits and reduce the cash outside the banking system, which would lead to an increase in the banking sector’s contribution to the domestic product, which would create job opportunities. Reality in a country where the unemployment rate is more than 30%.”

Al-Obaidi considered that “Iraq is among the countries with a low banking mass, where there is a bank for every 32 thousand people, while the global average is 10 thousand people for each bank, and Iraq needs to open 3 times the number of banks and their branches that currently exist, and many of the existing banks are weak banks that depend on an auction work on the sustainability of its work.”  LINK

Don961:  Expert: Weak culture prevents the spread of electronic payment services

Saturday 05 February 2022  Baghdad: Mustafa Al-Hashemi 

Many citizens, especially those who have traveled abroad, wonder why POS  Point of Sale (the device that reads financial cards) is not widespread in the country, although it has come a long way and has the necessary infrastructure for the successful spread of this service, especially after the entry of modern technology into Iraq. And that it is still new to providing electronic services to citizens by opening the door for shopping and conducting commercial transactions.

Earlier, the Central Bank announced its quest to reduce the use of cash (cash) in the country, due to the challenges of geography and security issues, which make the transfer of cash within the country difficult and risky.

 However, the matter was limited to distributing the salaries of employees and retirees only, and the Central Bank did not implement its policy on the ground in limiting cash circulation. (cache).

individual financial losses

Hussain Al-Khaqani, an economic expert, said that “the spread of sales points will greatly reduce individual financial losses, especially as many citizens who have visited or traveled abroad bemoan the lack of points of sale and credit card readers in markets, fuel filling stations, markets and all merchants. and sellers.” 

Al-Khaqani called for the provision of electronic payment card readers, at all official authorities and shops to collect their debts, such as departments that collect fees, traffic and taxes, for example, malls, large and small commercial markets, taxi drivers, stores selling vegetables and fruits, ovens and restaurants, in order to avoid the citizen dealing with damaged and counterfeit currencies and payment. More than required and greatly reduces the use of paper currency.”

Weak banking culture

For his part, banking expert Samir Al-Nusairi explained the most important reasons for the non-proliferation of points of sale in Iraq, attributing the reason to the weak banking culture among citizens using this modern technical method to move from paying with cash to paying with this. style”.

Al-Nusairi added in a statement to “Al-Sabah” that “other reasons for the weakness of the spread of dealing in this way are also represented by the lack of knowledge and motivation for the owners of malls or shops. and service.

 Also, the number of credit cards is not commensurate with the number of available points of sale, which number up to 4000 devices, compared to 12 million credit cards .”

Digital Transformation Application

The banking expert indicated that “there are no instructions and legislation obligating the citizen and the service provider to implement digital transformation, use electronic payment methods in shops and gas stations, and pay electricity, water and phone bills, so that cash is not accepted. 

Rather, it is exclusively through cards, in addition to the lack of infrastructure integration. 

Through networking and the use of advanced software, in addition to facilitating the use of Internet services “.

governmental support

Al-Nusairi stressed the need for government support for the expansion of the use of electronic cash cards, in coordination with the relevant ministries and the central bank .

 As well as automating business and facilitating routine procedures,” he called for “providing incentives for business owners to provide services, provide banking facilities, and reduce tax rates and commissions imposed on the use of pos.   liNK

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Samson:  When The State Is Silent About Stealing People’s Money!!!

6th February, 2022 – Books / Dr. Basil Abbas Khudair

Although corruption spreads in Iraq in a way that makes our state at the forefront of the list of countries in which transparency is weak and thefts prevail, we hear from time to time that the state has been able to detect some cases through financial control, the Integrity Commission, Parliament, the judiciary or through the committee. 

 Regardless of the quantity, quality and effectiveness of these measures and the extent of their contribution to the radical treatment of the phenomenon of corruption, they are primarily concerned with money and assets stolen from the state, as if these authorities are concerned with defending the rights of the state and its looted funds in isolation from the rights of citizens, and it is true that the judiciary is concerned with civil cases related to people’s money looted or owed through the courts of first instance or other authorities

But there is an almost missing link, which is the defense of people’s rights and money in their relationship with the private sector, including the banking sector, as there are related matters that have not been resolved for years, and in terms of legal van the Central Bank of Iraq is responsible for regulating this relationship, addressing its violations, and holding perpetrators accountable, based on Banking Law No. 94 of 2004, which did not leave any stray or incoming except and included it in the texts of the articles.

The Central Bank, according to the constitution, has the upper hand in its mandate over the work of private banks in terms of supervision and regulation as well as he enjoys the independence that gives him the right to take all the measures stipulated by law without interfering in his business and affairs by others except to the extent permitted by legislation.

This superiority and independence is supposed to be invested in a way that achieves the goals and reputation of the banking business and provides full protection for the money of all individuals and institutions, as it is the exclusive authority in granting licenses for establishing private banks and supervising their affairs in various fields, and because of these advantages, people have come to deal with private banks with confidence on the basis of their performance is guaranteed by the authority of the Central Bank.

And when we talk about the performance that caused harm to citizens by (lagging) private banks, we do not find, in actual fact, an effect of activating the articles of the law for those private banks that still keep the money of shareholders, depositors and creditors, individuals and companies forcibly without taking procedures that restore rights to its people who are now suffering from injustice

For example, the Al-Warka National Bank, which started violating since 2010 and its creditors did not find the appropriate response from its management or from the Central Bank to return the money to its owners.

The case is in a state of silence far from the knowledge of the ownersRights, and the result is that depositors have not recovered their deposits for more than 12 years. What they hear are promises, to say the least, that they are procrastination and wasting more time. 

It is strange that this bank is still operating in its only headquarters in Baghdad (Al-Mansour) and a number of employees work in it. Those who occupy their time drinking coffee and tea and receive their salaries from the depositors’ money, and they do not allow the depositors to be reviewed and do not answer any questions regarding the exact date for returning the money. ) Because the purchasing capabilities of depositors’ money are decreasing due to inflation rates that increase annually, according to the data of the Ministry of Planning.

And the depositors did not leave a door without knocking it, whether by reviewing the same bank, the central bank, the judiciary, or organizing sit-ins and issuing appeals to the various levels of the state, but all of them did not work. The ears of the depositors were filled with phrases (guardianship, merger, restructuring, capitalization, re-election of the board of directors) and they were frightened by the promises and solutions that were sterile because the most important and most important was not achieved by returning the money, and because we are in a country with working authorities and laws, this problem is supposed to be solved without secrecy.

 Anyone, by taking practical measures to return people’s money and to stop the deadly silence that brought nothing but ruin to the homes of Iraqis, who entrusted this bank with their money and found nothing but to cover it up.

With their money and the bank did not move a finger years ago, and you can imagine the material and immaterial damage from stopping the withdrawal of funds from 2010 until today.  LINK

KTFA Members "News and Views" Saturday 2-5-2022

KTFA:

Samson:  Al-Halbousi: Iraq today is fully prepared to be a destination for the region and the world

5th February, 2022

Parliament Speaker Muhammad al-Halbousi stressed, on Saturday, that Iraq is on the threshold of a new stage and is fully prepared to be a destination for the region and the world.

Al-Halbousi said in his speech during the official ceremony of the “Iraqi Martyr’s Day” that was held in Baghdad, and was followed by “Mawazine News”, that “Iraq today is on the threshold of a new stage and is fully prepared to be a destination for the region and the world.”

Al-Halbousi added, “There is no going back to previous failures,” referring to “the efforts to have a transfer of power without threat.” LINK

Samson:  Oil records a new high and exceeds the level of 93 dollars

5th February, 2022

Global oil prices rose 2.5 percent today, Saturday, to reach the level of 93 dollars, amid fears of supply disruptions and the outbreak of war between Ukraine and Russia.

Brent crude rose $2.25, or 2.5 percent, to $93.36 a barrel, after touching its highest level since October 2014, when it touched $93.70 earlier in the session. US West Texas Intermediate crude also rose $2.59, or 2.9 percent, to $92.86 a barrel, and touched its highest level since September 2014, when it touched $93.17 a barrel earlier in the session.

Analysts this week suggested that crude oil prices would exceed $100 a barrel due to the strength of global demand, citing a possible war between Russia and Ukraine as one of their main concerns for markets in 2022.

And Reuters news agency quoted three global market analysts as saying that oil prices will rise if global supplies are disrupted, as well as with the recovery in demand due to the escalation of natural gas prices in Europe and Asia, in addition to the resumption of activities after the closures imposed to limit the spread of the Covid-19 pandemic.

“The biggest geopolitical risk is Ukraine,” said John Vail, chief global strategist at Nikko Asset Management in Tokyo. “The trend is looking good overall for commodities.”LINK

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Samson:  A deputy directs 4 questions to Al-Kazemi regarding the exchange rate and the financial abundance achieved.. “Document”

4th February, 2022

Member of Parliament Hadi Al-Salami directed a set of questions to the caretaker Prime Minister, Mustafa Al-Kazemi, related to the dollar exchange rate, and the financial differences resulting from the rise in oil in global markets.

The four questions also included, according to a document published by the deputy today, Friday, and obtained by Mawazine News, an inquiry about the government’s failure to submit the supplementary budget for the financial abundance achieved in 2021, and the failure to send the 2022 budget bill on time. 

Translation …..

To the Honorable Prime Minister M / Parliamentary question  For monitoring purposes and based on the provisions of Article (61/Seventh/A) of the Constitution and Articles (15) and (29) of Parliament Law and its formations No. (13) of the year  2018 and Article (50) of the bylaws of the House of Representatives, please answer the following 

1 – The representative of the World Bank stated that (we have nothing to do with the decision to raise the price of the dollar, and the decision was purely Iraqi from the Minister of Finance and the Central Bank of Iraq, so what is the legal basis and the compelling reasons that called for raising the price of the dollar?

2 – The price of the dollar increased by 20% from its previous price, and what are the reasons for keeping it to this day despite the citizen’s harm, the rise in food prices and the reduction in the value of the salaries of employees and retirees because of that?  The sale of oil, the rise in Iraq’s cash reserve ratio, and the fate of the financial differences resulting from the high selling prices of oil for the year 2021 that are proven in the actual budget law that it reached in the global markets?

3 – What is the fate of the financial savings resulting from the increase in oil selling prices for the year 2021, which is fixed in the budget law, the actual price reached in the global markets? 

4- What are the reasons for the government not submitting a supplementary budget for the financial abundance achieved for the year 2021 and what are the reasons for not sending the draft budget law for the year 2022 on the date specified in the Financial Management Law No. (6) for the year 2019? ….. Kindly review our answer within (15) days from the date above. Provide us with all priorities… With appreciation Hassan Salami   LINK

The Framework Announces The Move Towards Collecting Parliamentary Signatures To Change The Dollar Exchange Rate

The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.

Al-Hilali said in a statement to “The Information”, “The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price.”

She added that “the framework’s movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved,” noting that “the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price.”

And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar.   LINK

Briscom: Final Article also shows us the  real motivation some Iraqi Parliament members announced their ‘signature campaign’ for supporting an IQD rate change yesterday (2/2).  With 88 seats from the Framework now joining Sadar and today’s court decision about the largest group, the Presidential vote will be a shoe-in this Monday.  Perhaps this action by the Framework is telegraphing an imminent rate change shortly thereafter.  This ‘face-saving’ maneuvor from the Framework is to show them as ‘proponents’ for changing the exchange rate.  I feel that the timing of Monday’s Presidential vote and next Wednesday’s UN rubber-stamp Security Council meeting on paid Kuwaiti war reparations.. bears sober watching for us all right now.  All this is IMO and food for thought.  I suspect we will have explosive news on all fronts by Feb. 9.

Suzie:  We’ve seen it, heard it before, let’s hope THIS TIME, they act on it!!

JimmyRay: All prayers would be answered if  rate was changed now

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Samson:  A Deputy Calls For An Investigation Into The Disappearance Of 30 Billion Dinars Deducted From Basra Education Staff

4th February, 2022

The representative of Basra Governorate, Ahmed Al-Rubaie, demanded today an investigation into the disappearance of 30 billion dinars that were deducted from the province’s education staff.

Al-Rubaie said in a statement, received by “Earth News”, that “we were informed of the suffering of the retired segment in the Basra Education Directorate and the delay in completing their transactions and receiving their pension benefits for more than five months.”

He added, “It became clear to us through the information we received about the loss of an amount of approximately (30) billion dinars from the retirement stops of the Basra Education Directorate, which delayed the payment of their pension salaries for many months and caused an increase in the suffering of this segment.”

He stressed that “this case indicates a state of corruption or mismanagement in the disbursement of all or some of these sums in certain sections other than those designated for them without legal cover and support,” calling on the competent authorities in the Office of the Governorate and Financial Control, the Federal Integrity Commission and the Public Prosecution to “withdraw the hands of officials in The Basra Education Directorate and prevented them from traveling to conduct a fundamental investigation into the matter and refer the perpetrators to justice.

He pointed to “the necessity of providing the Basra Education Directorate and the Directorate of Retirement with an explanation of the circumstances of the issue and as quickly as possible and working to do justice to the retired educators’ segment in honor of the efforts they made to serve generations.”

LINK

KTFA Members "News and Views" Wednesday PM 2-2-2022

KTFA:

Samson:  Iraq and Egypt sign a memorandum of understanding on monitoring and electronic payment

02/02/2022 18:35:03

His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, met the Governor of the Central Bank of Egypt, Mr. Tarek Amer, in Cairo.

During the meeting, they discussed bilateral relations between the two monetary institutions and ways to develop supervisory work and joint cooperation in the banking sector.

A memorandum of understanding was signed on monitoring and electronic payment between the two sides, in addition to ways to enhance cooperation and develop banking relations between the two brotherly countries.

It is reported that the Governor of the Central Bank of Iraq arrived on Tuesday afternoon in Cairo at the head of a large banking delegation at the invitation of the Egyptian side.  LINK

Don961:  Digital money.. Temptations and fraud

Wednesday 02 February 2022 Baghdad: Kazem Al-Hanawi

Concerned authorities have warned citizens against trading securities in the foreign exchange market, as companies are adopting innovative means through unlicensed fraudsters to inflict their victims in forex or digital currency activities, and to lure quick profit and investment. 

Fraudulent methods include publishing fabricated videos on social media that appear as news bulletins broadcasting official news by opening new investment channels for citizens, and inviting them to register their names and data, with the aim of deceiving citizens by transferring their data to steal their money.

Among the methods used by fraudsters are also creating fake electronic platforms that impersonate names and brands and marketing them through accounts on social networking sites, and there are many fraud methods to include fraud by advertising for jobs and conducting personal interviews via telephone or video call, luring victims to obtain their personal and banking information, and promoting For fake investments through currency trading, and others are looking for people to deceive them of financial assistance through Donations (humanitarian). 

fake sites 

Statistics Al-Jabour, head of the Samawa Chamber of Commerce, says that, “At the beginning of the emergence of these investments, the Chamber announced clearly to the citizens who inquired about them, that they should not deal with these sites through an awareness campaign to protect society from the dangers of dealing with fake websites that market to invest in securities, without mentioning them.” Obtaining the required licenses from the competent authorities, and introducing the innovative means pursued by unlicensed companies or fraudulent persons to inflict their victims in currency activities. 

He pointed out that “an important aspect is that the stock market is a market for offering shares for existing and registered companies and investment projects on the ground, and that frauds lie in banking companies and mediation in the sale and purchase of currencies, especially fictitious, in addition to some fictitious practices in displaying a fictitious profit activity that depends On electronic communications to achieve profits and establish an invisible network that pays money under the pretext of profit and presents a model of a shield or anything bearing the characteristics of the company, and then this company and those involved and the promoters disappear, as this spread and remarkably during the absence of state control of those platforms, and the law that must carry Any promoter of that responsibility in the rhythm of citizens victims”.

Jabour explained that “raising awareness and warning against dealing and investing with irregular and unlicensed entities, after some groups were affected, by depositing their funds to entities and companies in irregular ways without referring to the competent authorities.”

And he indicated that “the Chamber of Commerce offers several programs to confront irregular entities and companies, including raising awareness and warning against the activity of trading in securities in the unlicensed foreign exchange market, and several official agencies participate in it with the aim of protecting people from drifting behind this.” 

Investments that are harmful to the economy in general and to individuals in particular.

It is noteworthy that several sources confirmed that the risks that investors and dealers in securities in the foreign exchange market may be exposed to are very high and end in the loss of capital for the individual shareholders, except for the investment promoted by the unregulated bodies whose goal is often to earn money by illegal means by deluding the investors that Investing with these companies is safe, and they are helped by a number of suspicious websites that these companies have designated to announce guaranteed profits, the outcome of which is fraud.

Big losses

For his part, lawyer and member of the Jurists Syndicate Salah Al-Shammari called on the media to play a greater role in this important juncture, which exposes a segment of citizens to great losses, after being lured electronically to fake markets, and warned against “sharing information and personal and private data with others and the need to verify the sources of information by referring to the authorities.” It also ensures that companies have the necessary licenses before starting any investment, and beware of temptations to make quick profits that are promoted by companies trading in securities in the foreign exchange market. regularity”.  link

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Don961:  Thrift and hoarding

Tuesday 01 February 2022 Dr.. Hamed Rahim

Saving is one of the very important variables in the economy, as it is one of the most important sources of funding for investments in the existing economic activity. As for the concept, saving is (temporarily refraining from spending part of the available income), and this common concept in scientific sources contains a problematic overlap between its two sides. With the concept of (hoarding), which is an undesirable economic behavior, and therefore a distinction must be made between them. market.

As for saving, it is a desirable economic behavior and treated in economic theory, and it is one of the investment portfolio options as it achieves a return on the saved financial resources. Income, on the other hand, the economic activity will receive these deposits as they are financial resources that can be converted into other assets that stimulate the real aggregate supply and investment demand as well, and herein lies the role of (credit policy). 

In the end, it is necessary – in addition to the concept referred to – to distinguish saving from hoarding, and the concept of saving can be formulated as (it is one of the investment portfolio options represented by a temporary refrain from spending part of the available income to achieve a return).

And speaking of the structurally dysfunctional Iraqi economy, the story has complex dimensions and problems. The improvements in income after 2003 did not have a developmental impact on reality and did not provide us with a correct picture of the economic variables. Perhaps saving is one of those axes, as the monetary mass that it issues The Central Bank, which has grown significantly as a result of income improvements, is supposed to be an important part of it turning into savings through the adoption of policies that stimulate it.

But the indicators say otherwise. The average percentage of the currency issued by the Central Bank of the banking sector did not exceed 12%, meaning that what the public holds (cash in circulation) is at an average of 88%, taking into account that the investments are very weak, and this is what it shows.

The GDP map, the contribution of the industrial sector did not exceed an average of 2% and the construction and building rate was 5%. As for the tourism sector, its contribution is so weak that no field was singled out for it on the map, and this means that cash in circulation was distributed between consumer spending and hoarding.

The result is that the largest percentage of improvements in income went towards hoarding and not saving, noting that the relationship between saving and the interest rate is inflexible despite the rises from time to time in the interest rate on bank deposits, but without a significant effect in return (consecutive increases) in income most of them I went to (marginal propensity to consume) and not (marginal propensity to save), which showed us economic activity in its current form weak investments and a significant increase in imports consumerism.

Changing this equation is linked to the public’s confidence in banking institutions and general economic activity. banking.  LINK

Samson:  What does it take to change the dollar exchange rate and return it to the previous? Iraq should follow the example of neighboring countries

2nd February, 2022

Today, Wednesday, economic experts considered it difficult to change the exchange rate of the dollar and return it to its previous rate.

Economist Uday Al-Alawi said, according to the official newspaper, that “some of them see that changing the exchange rate is just a digital process that goes up or down,” noting that “this change greatly affects the market and the obligations of many who live on selling materials in it.”

Al-Alawi added that “it is absolutely not possible to change the exchange rate overnight, because the damages of those decisions that are taken without knowledge are estimated at billions of losses on citizens,” noting that “changing the exchange rate requires overlapping processes of continuous preparation of the market that take at least two years.”

He explained that “the statements regarding the change in the dollar exchange rate confused the market and stopped many commercial operations, and imposed on families to reduce spending and be satisfied with important goods, despite the fact that workers in the private sector constitute about 80% of society and they are more than directly affected by such statements.” 

And he stated, “Any moves in the process of decreasing and raising the exchange rate must be deliberate, because there is a benefit between the merchant and the simple citizen, in addition to the fact that many citizens have converted their transactions to the dollar after decreasing the price of the dinar, which suggests that it is not fixed internally, which causes a change a significant economic situation in the event of a decrease or increase in the exchange rate of the dinar against the dollar.

Al-Alawi linked “the efforts to change the exchange rate on the one hand and the government formation talks on the other hand,” noting that “they will be temporary statements and will not go beyond promotion and media marketing.” 

On the technical level, experts believe that “Iraq should follow the steps of some neighboring countries that have fixed the dollar’s exchange rate against its currency for years, even though they do not have any economic data, while the exchange rate in Iraq changes frequently.”

On the same level, other blocs, on the other hand, are trying to push economic laws to the House of Representatives, as Hakim al-Zamili, the first deputy speaker of parliament, had announced the Sadrist bloc’s intention to legislate a law to deduct a financial grant from oil revenues to be distributed directly among citizens under the title “People’s Oil Grant.” However, experts and observers pointed out that these endeavors cannot be implemented within the law, as there is a budget deficit estimated at more than 27 trillion dinars.

Observers warn of Iraq’s dependence on the current high oil prices, especially that their fluctuations will continue according to market requirements and the consequences of the world’s actions regarding the general closure to confront the Corona pandemic. They stressed the need for there to be alternatives away from oil rents, as this wealth may not last long, and could decrease at any moment, noting that those funds can be invested in establishing infrastructure for industrial cities that can compete with the world.  LINK

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Samson:  The Framework Announces The Move Towards Collecting Parliamentary Signatures To Change The Dollar Exchange Rate

1st February, 2022
The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.

Al-Hilali said in a statement to “The Information”, “The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price.”

She added that “the framework’s movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved,” noting that “the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price.”

And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar.  LINK

Wagmister:  A rate change is needed, but or more importantly the Iraqi Dinar must be a put on the FOREX. Delete the three zeros and let the world open its arms to the Dinar.

DCDriver:  Is not the IQD already on the forex? I think it just needs to depeg so it can float IMO

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Don961:  The purchasing power of the citizen decreased by 22%

Monday 31 January 2022  Baghdad: Haider Falih Al-Rubaie

Specialists in economic affairs identified a number of reasons for the high levels of inflation in the country, and their reaching rates they described as “dangerous”, putting at the forefront of these reasons the increase in the prices of food, health services, transportation and electricity, stressing that the high levels of inflation have eaten up approximately 22% of the purchasing power of the citizen. , and led to an increase in poverty rates, and while they agreed that changing the exchange rate is the main cause of high inflation rates

They stressed the need to launch more initiatives aimed at establishing small and medium enterprises, especially in the industrial, agricultural and investment sectors.

The latest statistic published by the Ministry of Planning showed a rise in annual inflation rates of 8.4%, which represents a “danger bell” for a number of economists, who warned of the dangers of rising inflation rates on the national economy in general.

Economic risk 

Despite the significant negative effects of inflation on the national economy in general, however, the economist, Manar Al-Obaidi, believes that the increase in its rates has a direct impact on the life of the citizen, leads to high rates of poverty, and paralyzes the increase in per capita GDP. Al-Obaidi pointed out that “measuring the level of price increases for each item or service, is after measuring the level of its impact on the citizen.

The importance of the food sector is approximately 28% for the citizen, followed by the housing and rental sector, whose importance is 17%.” The economic expert pointed out that “inflation rates in Iraq rose in important sectors, including those that are of great importance such as the food sector, as well as important and necessary sectors for people’s lives, such as the health, electricity and water sectors, which witnessed clear increases.

Food security 

Al-Obaidi believes that the food sector plays an important role in the process of rising inflation rates, because of its great relative importance, which necessitates working to achieve food security by adopting agricultural, industrial and agricultural projects and increasing equivalent productions such as canning and storage, stressing that these steps would Contribute to alleviating the rise in prices globally, and provide Iraq with food security away from external influences, and away from the impact of the exchange rate.

The expert pointed out that “the health sector, other goods and services, and electricity supplies are among the sectors with the highest rise in prices, as they witnessed an increase of more than 30%, and these percentages require active intervention from various parties to reduce them.”

investing money

With the aim of reducing the effects of inflation on the Iraqi economy, Al-Obaidi urged the harm of investing the surplus funds of the state and the reserves of the Central Bank, to launch initiatives that work to establish various projects that can contribute to reducing inflation rates, and to strive seriously to find real productive job opportunities that distance us from the “social welfare” state.

“We are experiencing today, especially with the high unemployment rates that have turned from a problem into a real disaster, rising with more than 500,000 people entering the labor market annually. Al-Obaidi also stressed the importance of “investment in education,” stressing that human capital is one of the factors affecting the rise in unemployment rates, and therefore real strategies must be worked out to implement education projects that raise the rate of human capital, which will contribute to reducing unemployment rates significantly. .

 exchange rate

In turn, the economist, Dr. Ali Hadi Al-Nusaifi, attributed the inflation rates to these levels to the change in the exchange rate and the devaluation of the local currency by 22% in parallel with the size of the bill of large foreign imports that are financed in dollars, stressing that this led to the citizen losing a percentage of purchasing power.

His income is much greater than the rate of devaluation of the currency due to the lack of control over the markets and its outrageous rise, indicating that this rise was paid for by the low-income brackets, and then led to the expansion of the poverty gap and the increase in the size of unemployment. Al-Nusaifi also indicated, among other reasons, that he said that they contributed to the increase in inflation rates to those rates he described as “dangerous,” including “the absence of a production function, exports being limited to oil resources, high costs on commodity requirements, and high taxes.”

suggestions and solutions 

In order to reduce the effects of inflation and reduce its high rates, the expert Al-Nusaifi suggested a number of points that he called on the government to implement, putting at the forefront of those points, strengthening the ration card program, and working on the “cash allowance” to replace the commodity, provided that the value of the goods in the market is taken into account, as well as Re-working the supported central market program, activating the market monitoring program, and reducing taxes and customs on some productive activities.

Funding initiatives for small projects of not less than 10 trillion dinars to reduce unemployment and reduce the poverty gap before it is classified in extreme and dangerous levels.   LINK

KTFA Members "News and Views" Tuesday 2-1-2022

KTFA:

Samson: The Framework Announces The Move Towards Collecting Parliamentary Signatures To Change The Dollar Exchange Rate

1st February, 2022

The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.

Al-Hilali said in a statement to “The Information”, “The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price.”

She added that “the framework’s movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved,” noting that “the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price.”

And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar.     LINK

Sir:  And so it shall be… Glory days …..Amen.  Amen. Amen

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Suzie:  Just curious if Iraq IS conducting business internationally and the education of the people and banks is pretty much complete why haven’t they exposed/shown the nscn (New Small Currency Notes) yet?  Seems like a reasonable question….especially with news that the ri/rv could happen almost any day now.

Clare:  BECAUSE THE NSCN’S ARE MAINLY FOR THEIR PEOPLE- THEY WILL BE EXPOSED WHEN THE RATE CHANGES OR AS FRANK THINKS RIGHT BEFORE, TO GET THE PEOPLE TO SEE THEM FIRST BUT WHICHEVER WAY IT GOES IT WILL BE IN SYNCH & PRETTY FAST AT THAT POINT IMO… 

THE PRIVATE BANK EDUCATION IS DONE AS FRANK & WS TOLD US.. …WE LITERALLY ARE JUST WAITING FOR THIS TO “POP” … THEY WILL NOT EXPOSE THE NSCN’s WITHOUT AN IMMINENT  RATE CHANGE- THINK ABOUT IT WHY WOULD THEY? THEY CAN’T BE USED WITHOUT A NEW RATE…

I DON’T KNOW IF ANYONE REALLY DOES KNOW AS A FACT WHY WE ARE STILL WAITING… IT IS ABOUT IRAQ BUT NOT ONLY ABOUT IRAQ… IMO

The Snod:  IMHO, looking at the volume and information flow from inside and outside sources. It appears most likely they will hit the 2nd phase of the White Papers after the formal seating of the gov’t.  This gov’t will vote in the FML, HCL, and what other laws are associated to the budget and the next stage of the monetary reform.  There should be a rate fairly adjacent to it to make it work.  That, of course, means NSCN’s are lurking around it. All conversations are where we want them. We are just waiting to see how it will all actually be coordinated.

GodLover: The.Snod always good to see you post. I agree, something I had felt a requirement imo long ago, a seated government. I as well look to parliament to pass international laws as some articles implied & of course the 2022 budget. I as well agree the rate should be right around the time of budget approval/opening imo. The rate known (to us that is) prior to opening the budget seems irrelevant to me imo. God willing the NSCN training had taken place & they are ready whenever is needed upon opening of the budget. Please let this never ending ride be over with soon, lol.

The Snod: Amen to that.  I think we’re all sick of it, but the longer it goes, the more I see what a tremendous undertaking it is to get a whole nation, that was blasted back to the Jurassic Age, grafted back into the international world!

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Samson:  Iraq maintains its global and Arab position in gold reserves

01/02/2022 11:04:34

 The World Gold Council published last January its report on the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35571.3 tons of the metal.

According to the data, total reserves increased by 11 tons in the January 2022 report, compared to December 2021.

The United States leads the world in precious metal reserves, with 8,133.5 tons, followed by Germany (3,359.1 tons), then Italy (2451.8 tons), France (2436.4 tons), and then Russia (2298.5 tons).

Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.

As for the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to the first report of the World Gold Council this year, while Iraq ranked 39th globally and fifth in the Arab world with 96.4 tons of gold.

The following is a table showing the ranking of Arab countries in gold reserves based on the report of the World Gold Council last month: LINK

Samson:  Last December… Integrity reveals the number of arrest and summons orders against government officials

1st February, 2022

The Integrity Commission revealed, on Tuesday, the number of arrest and recruitment orders against officials in the last month of last year, while confirming the issuance of 85 arrest and recruitment orders against this category.

A statement of integrity received by Mawazine News stated, “The authority carried out 48 arrests during the month of December, while it issued 85 arrest warrants and judicial summonses against a minister, those of his rank, people with special degrees, and general managers,” noting that “judicial convictions and convicts amounted to 294 reports.” 

The statement indicated that “the files for the extradition of the fugitives wanted by the judiciary amounted to 20 files, while the files for recovering the smuggled funds amounted to five files,” noting that “the number of forms covered by the disclosure of the received financial receivables amounted to 1913 forms, and the number of those covered by the list who appeared to have a conflict of interest was nine, while the number of training courses, workshops and seminars held by the authority in its departments and abroad is 19, while the television and radio episodes and paper publications amounted to six, while the research, studies and statistical reports amounted to four.  LINK

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Samson: With A Value Of 10 Billion Dollars .. The Disclosure Of An Emirati Investment In Israel

1st February, 2022

The Israeli economic newspaper, Globes, revealed that Abu Dhabi has invested $10 billion in Israel.

The newspaper pointed out that the Crown Prince of Abu Dhabi, Mohammed bin Zayed, decided to cancel the freeze on this investment after the visit of the Israeli President, Isaac Herzog, to his country.

According to the newspaper’s report, the concerned authorities in the two countries are currently working on a plan to distribute the funds of Emirati investment funds to Israeli companies. President Herzog returned to his country yesterday evening, Monday, from a visit to the UAE.

The report said, “Israel and the UAE can bring the Middle East region to a new horizon to bring peace, prosperity, cooperation and investment to develop various fields.”

 He added, “There are two options for the future of the region, either to achieve peace, prosperity and cooperation, or Iran and what it represents of instability using the organizations that revolve in its orbit and fuel terrorism.”  LINK

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Samson:  Iraq Joins The Patent Cooperation Treaty

1st February, 2022

The Ministry of Foreign Affairs announced today, Tuesday, that Iraq has joined the Patent Cooperation Treaty (PCT).

The spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, said in a statement received by Earth News, “The Permanent Representative of the Republic of Iraq, Ambassador Abdul Karim Hashem Mustafa, deposited the instrument of Iraq’s accession to the Patent Cooperation Treaty (PCT) on 01/31/2022.”

The permanent representative said during his speech, according to the statement, that “accession to the Patent Cooperation Treaty will make the patent system in Iraq more efficient and that the procedures will be less costly for applicants seeking international patent protection,” noting its “great importance to motivate Iraqi inventors.” to contribute more to industrial and technological progress and to protect their intellectual property.”

He added, “The Central Agency for Standardization and Quality Control in the Ministry of Planning granted 532 patent certificates during 2021 only, and more than 2,200 patent certificates since 2017.”

It is noteworthy that the Patent Cooperation Treaty (PCT) will enter into force three months after the deposit of the instrument of accession, bringing the number of member states to the Treaty to 155. This is the fourth treaty to which Iraq is a party out of 26 treaties in the World Intellectual Property Organization.  LINK

MilitiaMan Sunday Afternoon "A Big Deal" 1-30-2022

KTFA:

Samson:  Unprecedented Numbers Of Iraqi Oil Trucks Arrive In Jordan

30th January, 2022
The Anbar Governor’s Advisor for Energy Affairs, Aziz Khalaf Al-Tarmuz, reported on Sunday, the escalation of the pace of Iraqi oil supply to Jordan through the Tarbeel port.

Al-Tarmouz told the “Information” agency that “the Tarbeel border crossing with Jordan, west of Anbar, witnessed an increase in the pace of entry of trucks loaded with oil derivatives, to 1,500 trucks per day, after it was only 60.”

He added, “The next few days will witness an increase in the number of trucks to reach 2500 trucks per day, and this percentage is the highest since the central government agreed to supply Jordan with oil.”    LINK

Samson:  After A Break Of Half A Century, Baghdad Hosts The International Conference Of “FAO”

30th January, 2022

The capital, Baghdad, is preparing to host and organize a conference of the Food and Agriculture Organization of the United Nations “FAO” next February, after an absence of nearly 54 years since the last conference organized by a country in the region.

The Permanent Representative of the Republic of Iraq to the United Nations agencies in Rome, Safia Al-Suhail, said in a statement reported by the newspaper “Al-Sabah” and seen by “The Information”, that “the tripartite meeting, which was organized through an electronic circuit, reviewed all the necessary preparations for organizing the 36th conference of (FAO) in the capital, Baghdad. The Minister of Agriculture also expressed Iraq’s interest in hosting this international conference in the capital, Baghdad, after an absence of 54 years since its last organization in one of the countries of the region.

Al-Suhail added, “The Minister of Agriculture conveyed the keenness of Prime Minister Mustafa Al-Kazemi and the relevant ministries to provide all facilities and support to achieve a distinguished hosting, and during the meeting, the participation of countries, dignitaries, UN officials, international organizations and civil society organizations were discussed.” LINK

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MilitiaMan:  The trucking increasing almost 42 times the volume in a short period of time looks to be telling a story of Iraq being at  international trade levels. That is a major increase in trucking, likes of that I have not seen before.

Then there is the International Conference starting in February 2022. Iraq is hosting the UN officials and international organizations with respect to the Ministry of Agriculture.. They have been absent for 54 years.

That too is very telling and supporting there is an international ascension going on. I would suspect the WTO, AYSCUDA and AMF may be some of the International Organizations that may be involved..  They’ll need the tax revenues.

 I’ll bet the borders will be ready to clear all that oil for a REER (Real Effective Exchange Rates) at some point now.. imo They mention the trucking went from 60 -1500 trucks and then increase in the coming days to 2500..

That is a lot of daily oil movement and a lot of money.. Exciting times ahead… Full steam too.. lol imo ~ MM

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Samson:  Jordan : The Central Bank is studying the issuance of a new digital currency

30th January, 2022
Central Bank Governor Adel Sharkas confirmed that the bank is studying the possibility of issuing an official digital process for the Central Bank of Jordan.

Sharkas said, during his intervention in the Parliamentary Economic Committee, that the currency will be supported by the dinar, different from the known virtual currencies.   LINK

https://www.bis.org/publ/othp42.htm

https://www.bis.org/publ/othp42.htm

https://www.bis.org/publ/othp42_fin_stab.pdf

MilitiaMan:  There is a lot of fast moving parts to the CBDCs (Central Banks Digital Currencies) becoming a reality. The links above are informative. The BUNA platform is a digital platform that will clear digital currencies. Jordan and Iraq will be just a couple of them..

The UST has told us they intend and have on board 136 countries that will be digitizing taxation.

The borders will be automated or are now. Just think about the increase from 60 trucks of oil going across the border increased to 1500 a day and in the coming days up to 2500 trucks will cross each day. That will need electronic clearing and for the increase from 60 – 1500 says to me they are automated now.. Ready to go.

Fascinating time to tell us that Jordan.. What terms, mechanism and or price is the oil deal to need that amount of increase in trucking, 42x?

This is a big deal.. imo ~ MM

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U.S. Department of the Treasury

Office of Public Affairs

Press Release:             FOR IMMEDIATE RELEASE

October 13, 2021

Contact:                      Alexandra LaManna; Press@Treasury.gov

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with G7 Finance Ministers and Central Bank Governors

WASHINGTON – Secretary of the Treasury Janet L. Yellen participated in an in-person meeting of the G7 Finance Ministers and Central Bank Governors today. G7 Finance Ministers applauded the historic deal between 136-nations that will reshape the international tax system and equip the global economy to meet the needs of the 21st century.

Along with her counterparts, Secretary Yellen endorsed the G7 Public Policy Principles for Retail Central Bank Digital Currencies (link) and the G7 issued an accompanying statement on digital payments (link). She also expressed her strong support for efforts to channel Special Drawing Rights (SDRs) to further support vulnerable economies, including the rapid establishment of a new trust fund at the IMF to support economic transitions related to pandemic preparedness and climate change. G7 Finance Ministers also discussed the macroeconomic implications of climate change and the importance of resilient global supply chains.

KTFA Members "New and Views" Sunday 1-30-2022

KTFA:

Jordan : The Central Bank is studying the issuance of a new digital currency

30th January, 2022

Central Bank Governor Adel Sharkas confirmed that the bank is studying the possibility of issuing an official digital process for the Central Bank of Jordan.

Sharkas said, during his intervention in the Parliamentary Economic Committee, that the currency will be supported by the dinar, different from the known virtual currencies.  LINK

Tivon:  IMO: Their thinking about it, their studying it, their looking into it, it’s their next priority, or they may consider other options etc. See how they keep looping you around their fingers?

This is why I said other components to this investment needed to be brought up to understand where you are at so you can unhinge yourself from the Iraqi theater that has become the Dinar.

Tivon Cont…..That way you can better understand the dynamics as to why this reoccurring theme they set up goes around and around and around. Even though you have gotten progressive information from the CBI it’s the US Military that will give the go ahead as to release the rate once operations have been cleared.

Why? Because as I’ve stated multiple times already that reinstating the Iraqi Dinar is an “Act of War”. And what do you do to prevent one? You remove the very people who would start one once the new exchange rate releases.

These people would be “The Rothschilds”. Their banking model was set up to ensure that we never return to the gold standard. As they belong to and serve “The British Crown Royal”.

Just read this report and you tell me what you think. The US controls oil sale revenue. D. Trump was telling Iraq who’s running the show. Because he knew the troops were/are needed to successfully release the new exchange rate without stoking the flames of war.

The New York Federal Reserve Account has been nationalized and merged with the US Treasury to remove foreign influence on American banks and citizens.

https://www.google.com/amp/s/www.wsj.com/amp/articles/u-s-warns-iraq-it-risks-losing-access-to-key-bank-account-if-troops-told-to-leave-11578759629

As I have studied there’s a reason they are holding off on the rate.

One is the new exchange rate will be used to finance “The New Republic”. By that time we would have gotten all the opposition removed domestic & foreign.

The list I created was to show that if any other trigger is pulled besides the reinstatement that’s how you know Iraq will release the new rate.

Especially when the stock market collapse. Evergrande (#-5) is one major factor to the overall plan to do so. Evergrande is connected to Bitcoin/Tether. Once it collapses (Any Day Now) that will force the Cryptocurrency not backed by natural assets like gold & silver to be removed setting the stage for a digital payment system where Iraq can utilize the BUNA platform (Which Is Multi-Currency) effectively.

See how this ties together with the XRP/Ripple Case with the SEC now? Which is #-8 on the list. Isn’t Iraq using ISO-20022? What do you think that is for?

To regulate Cryptocurrency/Digital correct? Along with Basel 3. Everything ties together. The only thing not active on the list is 9 & 7. That’s how close we are.

Iraq has to bite their tongue or speak out both sides of the mouth because they are walking a high wire. They know what’s at steke if they pull the trigger without the greenlight from the military protecting those at the CBI.

Guys do you see the many avenues you have that will lead to the new exchange rate? Once the military steps in (Publicly) it’s game over!

Well wishes to Frank and his family.

Tivons List:  

1. Iraq Dinar Reinstatement (Pending)

2. Russia & Ukraine Stand Off (Pending)

3. Queens Death (Pending)

4. 11.3/11.4 Law of War Manual

5. Evergrande Collapse (Pending)

6. 3 Gorges Dam Collapse

7. EBS Activation

8. The XRP/Ripple Case (Pending)

9. Death of Pope 

10. Starlink Activation 

11. Food Shortages 

12. Stock Market Collapse (Pending)

13. Government Collapse 

14.  Mainstream Media Lawsuits (Pending)

Now keep in mind. One of these events are critical enough to initiate all in conjunction to create a tsunami of events in one fell swoop across the planet. Especially “The Queens Death”. On January 19th 5g Rollout was supposed to speed up everything to happen before February 1st. Including The Reinstatement of the Iraqi Dinar.

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SCollie:  We’ll said.   Proof of work doesn’t work.  We are in the process of switching over from the prototype cryptos to the ISO coins.  Which I’ve heard have been running behind the scenes for some time now.  

We are waiting for a global event (black swan) to crash the markets and be turned back on with a new system….and new accounting with the Basel III backed currencies.  

We are oh so close.  Narrative is set…to expose all.  grab your popcorn the movie is about to get really good.  so it begins…

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Samson:  In a week.. the Iraqi Stock Exchange traded shares worth 8 billion dinars

30th January, 2022

The Iraq Stock Exchange announced today, Sunday, the trading of shares with a financial value of more than 8 billion dinars during the past week.

The market said in a report seen by Shafak News Agency, “The number of companies whose shares were traded during the past week amounted to 43 joint-stock companies, while the shares of 40 companies were not traded due to the lack of convergence of purchase orders prices with sales orders, while 20 companies continued to stop for non-disclosure out of 103 companies.” listed on the market.

He added that “the number of traded shares amounted to 13 billion and 760 million and 930 thousand shares, with a financial value of 8 billion and 874 million and 677 thousand dinars, through the implementation of 2587 deals,” noting that “the ISX60 traded price index closed at 570.31 points, recording an increase of 3.26% from closed in the previous session.

He pointed out that the number of shares purchased from non-Iraqi investors for the past week amounted to 124 million shares, with a financial value of 178 million dinars, through the implementation of 53 deals, while the number of shares sold from non-Iraqi investors reached 205 million shares, with a financial value of 284 dinars, through the implementation of 180 deals. 

It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels. LINK

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Samson: Iraq receives offers from 5 Arab countries to establish industrial cities

30th January, 2022

The Ministry of Industry and Minerals clarified, on Sunday, the importance of industrial cities in Iraq, while revealing that it had received requests from 5 countries to establish industrial cities in Iraq.

The Director General of the Industrial Cities Authority of the Ministry of Industry and Minerals, Hamed Awad Muhammad, said: “After the issuance of the Industrial Cities Authority Law No. 2 of 2019, the role of the Industrial Cities Authority was activated during the second half of 2020,” noting that “the authority was able to establish industrial cities in all provinces.

He added, “The establishment of industrial cities comes due to their importance in providing services and providing job opportunities for young people, as well as bypassing slums by building industrial cities with services that have been focused on and given great importance. Therefore, such cities were established in each governorate.”

He pointed out that “the first agreement for an economic city was signed with Jordan, and the procedures were completed for the purpose of declaring it,” noting that “those cities are of great importance, including their geographical location, which is located on the borders, in addition to some desert areas that may be loose in security and will turn into populated areas. population, production lines, and services to the country.”

He pointed out, “There is a tendency from neighboring countries to build industrial cities in Iraq, and we have received several offers from Syria, Jordan, Saudi Arabia, Iran and Kuwait,” stressing that “the next stage is the stage of industrial cities, which will be very important to support the country’s economy.” He noted that “during a record period, the first contract was signed in Holy Karbala for the construction of an industrial city specialized in petrochemicals and engineering within an area of ​​5300 acres.”  LINK

MilitiaMan and KTFA Members "News and Views" Saturday PM 1-29-2022

KTFA:

DoTalkToMe: For an unknown reason it does not seem to be a driving factor that Iraq is losing millions of dollars in oil sales. For a long time now

Sir: Good morning KTFA family, IMO on the surface it might seem that way, remember that in December of 2020 the budget for 21/22/&2023 were in the white papers.

2021 (test run) was to insure that it ( the budget ) was going to work properly prior to releasing it to the Iraqi people, this would allow any tweaking if needed. All the while a second set of books containing the new rate! ( 21-22 & 2023 budget )

So they did not lose but gained revenue and at the same time started teaching the Iraqi people about the changes to come. Get in and open accounts at your bank’s they told them we are going back to the glory days!

Sir Cont…..So much going on in Iraq and around the world today that indicates that there is no turning back. The Fed dollar is all but dead and more and more countries are turning to asset backed currency. Welcome to the new age, are you ready! 

IMO we will see this come to fruition before February 20th, yes I just said that!
My bank sent me hundreds of documents stating the changes that will go into effect on the 20th of February. I knew this was coming because of the merger of SunTrust and BB&T ( Truist ) that was announced a couple years ago.

This IMO is the last lap in this race and when we cross the finish line, it’s not just one that will win, we will all win, the world wins.

Reklaw:  IMO… time used to be on their side.  I believe it’s just the opposite now. 

Clare: SIR- NICE POST!   REKLAW I AGREE – GREAT POINT!….
WE ARE ON THE VERGE OF MAJOR  ECONOMIC CHANGES –  IT IS ABOUT IRAQ- BUT NOT ONLY ABOUT IRAQ ..IMO

MilitiaMan:  Agreed!! Where have I heard that last bit before? lol ~ MM

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Samson:  Iraqi ports confirm that no port in neighboring countries has any impact on Al-Faw

29th January, 2022

The General Company for Iraqi Ports warned, today, Saturday, against the rail linking of cargo before the completion of the Faw port, while indicating that no port of neighboring countries affected the Faw port. 

And the spokesman for the Iraqi ports, Anmar Al-Safi, told the Iraqi News Agency (INA): “The railway connection between Basra – Shalamjah, if it is at the level of loads, is a great danger, as the port of Al-Faw has not been completed until this moment. He expected that “the railway connection concerns travelers only, whether it is to Iraq or Levant.”

He added, “If this linkage is for cargo, it will disrupt the Faw port, and obstruct all ports, because the ports of the neighbor and nearby remain competitive with the Iraqi ports, so it will be unloading the loads of all those coming from the Middle East, Europe, Turkey, the Levant and other areas through these ports, and thus the goods you get outside of these cities, and that’s going to have a huge impact.”

With regard to the Iranian port of Jask, he made it clear that “the great port of Faw is not affected by any port near or far, as it is a link between East and West.” And he concluded, by saying: “Iraq is a link between East and West, and it is the shortest and best way for cargo carriers for merchants, because they calculate profitability issues for this issue, so the shorter roads are the ones that attract merchants,” stressing “there is no effect of any port on the great port of Faw.”   

MilitiaMan:  The automation of the port is going to be a money machine! Likely the next Dubai in context of bigger. Once they go international with their REER (Real Effective Exchange Rate) , the amount of money will likely compete with the oil revenues. All for the state, UST, AYSCUDA and teh WTO will be there to make sure there is transparency, imo.!! Iraq will have a sovereign wealth fund that will be massive in the future. They’ll be able to support their exchange rate easily.. It will be GLORIOUS.. Like the good ole days.. lol ~ MM

Samson:  I talked about the stage of “reaping the fruits” .. Chairman of the Investment Authority: We have prepared 70 projects for the state

29th January, 2022

Head of the Investment Authority, Suha Al-Najjar, confirmed, on Saturday, work to change the investment law, and while she referred to the return of 70 projects to the state, she considered that the next stage would be the stage of “reaping the fruits.”

Al-Najjar said, “Since we received the position, and for a period not exceeding one year and a quarter of the year, it is difficult to change the investment situation in this short period, but we laid a strong foundation and worked to fight corruption.”

Vacations are among the lagging projects, and this matter was not easy due to the legal procedures, but the authority was able to return 70 projects to the state.”

And she added, “The authority was also able to reduce customs exemptions by 80% in the year 2021, as well as for the features. In 2020, it issued 12,000 visas, and in 2021 it issued about 10% of the features only so as not to affect the work of Iraqi youth,” explaining that “The authority may accuse the procedures of slowing down, but this matter was studied, and it was confirmed that most of the features go to traders and brokers, so we fought corruption and planned projects in an excellent manner.”

Al-Najjar added in an interview with the official news agency, Mawazine News, that “the Commission’s plans are in the interest of the Iraqi economy and not relying on oil only, and the next stage will be a stage of reaping the fruits,” stressing that “there is work to change the investment law for the next stage, which parallels the investment environment.” In Iraq, the current law contains a flaw in the structure in addition to corruption and bureaucracy.”     LINK

MilitiaMan:  The next stage is not going to be at a program rate. The economy will not stand on oil sales alone. Again the automation of the ports and borders will bring in massive revenues!! Just as the religious tourism, the Liquid natural gas sales, other natural resources, etc., etc.. imo Apply the REER and let her sails to the wind!! imo~ MM

Some "Friday News" Posted by Samson at KTFA 1-28-2022

KTFA:

Samson:  Iraq Signs Two Arab Agreements On Piracy And Human Cloning

27th January, 2022

Iraq has signed, at the headquarters of the General Secretariat of the League of Arab States, the Arab Protocol to Prevent and Combat Maritime Piracy and Armed Robbery, supplementary and supplementary to the Arab Convention against Transnational Organized Crime, and the Arab Convention to Prevent and Combat Human Cloning.

The Minister of Justice, the representative of Iraq to sign the agreement, Salar Abdul Sattar, said in a statement reported by “Al-Sabah” newspaper, which was seen by / the information, that “Iraq’s signing of these agreements is very important because Iraq is a founding member of the Arab League, and it is important to sign these agreements that prevent a number of crimes that are being committed.” across the border.”

Abdul Sattar added, “Iraq is returning strongly to the joint Arab action and that these agreements that have been concluded will be important to deter organized crimes between Arab countries and regional countries and to prevent and combat terrorism among Arab countries, especially those that signed these agreements, which are 15 Arab countries.”

He explained that “the Arab protocol aims to prevent and combat maritime piracy and armed robbery, supplementary and supplementary to the Arab Convention against Transnational Organized Crime, and to strengthen cooperation, support and strengthen ties between state parties in this field.”

Abdul Sattar added, “The agreement aims to prevent and combat human cloning and to detect it in all its forms and types, and all crimes related to it, to prosecute its perpetrators, and to strengthen Arab cooperation in this field.”   LINK

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Samson:  Oil prices rise, Brent records $89.83 a barrel

28th January, 2022

Oil prices resumed, on Friday, the rise, achieving its sixth weekly gain, amid fears of tight supplies as major producers continued their policy of increasing limited production amid high demand for fuel.

Brent crude futures rose 49 cents, or 0.6 percent, to $89.83 a barrel.

US West Texas Intermediate crude futures rose 62 cents, or 0.7 percent, to $87.23 a barrel.  LINK

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Samson:  The Arab Monetary Fund issues a study entitled “Attitudes of Arab Central Banks towards issuing Digital Currencies”

28th January, 2022

76% of Arab central banks are studying opportunities to issue digital currencies, and three of them are currently participating in experiments to issue such currencies.

Two Arab banks are expected to complete the issuance of a digital currency in the next three years, while  60 percent of Arab central banks expect to be able to issue a digital currency within a time horizon of six years.

69% of Arab central banks are in the process of determining the type of currency to be issued, while  25 % of them are involved in projects/studies to issue more than one type of digital currency.

Considerations of increasing levels of financial inclusion come at the top of the priorities of Arab central banks from issuing digital currencies in the field of retail payments, while considerations of combating money laundering and terrorist financing come at the top of their priorities from issuing digital currencies in the field of wholesale payments.

The nature of the existing legal and regulatory frameworks, and considerations of governance of digital currency issuance represent the most important challenges facing Arab countries in terms of issuing digital currencies.

The importance of strengthening the capabilities of Arab central banks in terms of issuing digital currencies by entering into regional and international partnerships with the aim of exchanging experiences and implementing experiments  to prove the concept

In the context of its keenness to develop its research activities to serve decision-makers in Arab countries on priority issues, the Arab Monetary Fund issued a study entitled “Attitudes of Arab Central Banks towards issuing digital currencies.” 

The importance of the study lies in the fact that it deals with the trends of issuing digital currencies for central banks in the Arab countries based on a questionnaire conducted by the Arab Monetary Fund in this regard and it touched on many aspects related to these currencies and it was completed by 17 Arab central banks.

The study also provides a basis for periodic monitoring of the level of progress in the issuance of such currencies in Arab countries, the motives of Arab central banks to issue them, and the most prominent challenges they face. developed or developing ones.

The study indicated that Arab central banks, like other international central banks, are interested in exploring opportunities to benefit from their issuance of digital currencies, as 76 percent of Arab central banks are currently studying opportunities to issue digital currencies. Among these banks, three of them are participating in existing experiments to issue these currencies, while the majority of Arab central banks are still in the stage of research and development and proof of concept for opportunities to issue such currencies.

In terms of time, it is expected that two Arab banks will complete the issuance of such currency within the next three years, while 60 percent of Arab central banks are expected to be able, within a period ranging between four to six years, to issue a digital currency, while the expected time period for issuing a digital currency extends. Such currencies in 29 percent of these banks to a period ranging from seven to ten years. As for the types of digital currencies that Arab central banks are interested in issuing, 69 percent of Arab central banks are still in the process of determining the type of currency to be issued, while 25 percent are involved in projects/studies to issue more than one type of digital currency.

On the other hand, the study was also interested in identifying the motives of Arab central banks to issue digital currencies, as the motives differ between countries of the world according to many factors, especially between developed and developing countries, as well as according to the level of efficiency of payment systems, monetary policy management and levels of financial inclusion, as well as in terms of its priorities with regard to compliance with international regulatory requirements. In this context, considerations of increasing the levels of financial inclusion came at the top of the priorities of Arab countries from issuing digital currencies in the field of retail payments (Retail CBDC) by 69 percent, followed by considerations of increasing the efficiency of local payment systems (63 percent), which is in line with Similar drivers registered in a number of other developing countries according to trends monitored by the Bank for International Settlements in 2021.

On the other hand, considerations of facilitating anti-money laundering and terrorist financing operations came at the top of the priorities of the majority of Arab central banks from issuing digital currencies in the field of wholesale payments (Wholesale CBDC) by 56 percent. The motivation to improve the efficiency of monetary policy management (50 percent of central banks) comes later, especially in light of the expected role of digital currencies issued by central banks around the world in increasing the efficiency of interbank market payments systems based on technologies, the most important of which is the distributed ledger technology.

The road towards issuing digital currencies is still long for the majority of Arab central banks, as they face many challenges in this framework, foremost of which is the nature of the existing legal and regulatory frameworks, governance considerations for issuing digital currencies, the availability of qualified human resources, in addition to some technical challenges, and the nature of The participatory infrastructure needed to issue such currencies, as well as considerations of the ability to enhance interoperability between existing payment systems, and define the roles of central banks and the private sector across the entire chain of digital currency issuance and distribution.

In light of the foregoing, the study concluded with some recommendations, perhaps the most prominent of which is the importance of strengthening the capabilities of Arab central banks in terms of exploring the possibility of issuing digital currencies by entering into regional and international partnerships with the aim of exchanging expertise and experiences and implementing a number of pilot projects in this framework. 

In addition to providing the basic requirements for the success of the issuance of such currencies, including the legal and regulatory framework supporting their issuance, strengthening data protection and cyber security, and the existence of frameworks for the governance of digital currency issuance by central banks, in addition to forming successful partnerships with technology companies, and supporting the capabilities of workers In Arab central banks in all areas related to the issuance of digital currencies.

The full version of the study is available at the link

Samson:  Observers : Anti-corruption measures contributed to Iraq’s progress in global indicators

28th January, 2022

Observers and stakeholders praised the government’s measures in the field of anti-corruption, stressing that it contributed to Iraq’s progression two degrees in global indicators, while calling for the application of the Financial Management Law and the adoption of the electronic governance approach to reduce corruption.

The former head of the Integrity Commission, Musa Faraj, said, in a statement to the Iraqi News Agency (INA), that “there are two important aspects related to Transparency International’s report for the year 2021 on Iraq’s progress in two degrees in the fight against corruption. The first is that the organization is concerned with examining the environment of corruption and not the extent of corruption, If asked about the extent of corruption in each country, this needs agencies such as the Financial Oversight and Integrity Commission, and all countries of the world do not have this possibility, so the reports are not concerned with the extent of corruption, but with the environment to combat it.

He added, “The anti-corruption environment is achieved by political stability, rule of law, independence of the judiciary, as well as the presence of anti-corruption agencies such as an independent and effective integrity commission, civil society participation and transparency, as any citizen or party has the right to obtain information from state agencies, in addition to To other factors such as the integrity of the judiciary and freedom of the media.

He explained, “The second aspect is Transparency International’s data, which is called an impressionistic estimate, not a sensory one that depends on the documents and data contained therein,” noting that “the organization does not have the right or the ability to access documents related to corruption in every country in the world.”

He pointed out, “The organization adopts impressionistic information such as the issue of poverty, as it measures poverty rates in Iraq, through the announced data, as well as the estimates of international bodies such as the World Bank, in addition to the issue of electricity and its status in Iraq is measured through local data and international bodies.” The same applies to the education, health and other sectors. He continued, “It also depends on public opinion polls inside and outside the country concerned, by sending survey data to companies that implement projects in the country, in order to reach the near reality and the situation of corruption in that country.”

Governmental steps

In turn, a member of the United Nations Convention Against Corruption coalition, Muhammad Rahim Al-Rubaie, said that “during the past two days, an annual report for the year 2021 was issued to Transparency International, where this indicator showed Iraq’s progress.”

He added, “This progress was positively reflected on the hierarchical evaluation, as Iraq advanced to the 157th place after it was 159,” noting that “the steps taken by the current regulatory and governmental authorities in combating corruption contributed to Iraq’s progress by two points.”

He explained, “Iraq has ratified the adoption of the National Anti-Corruption Strategy for the years 2021-2024, and it also needs to implement the Financial Management Law No. 6 of 2016, especially the tenth chapter called Transparency for Articles 51 to 54, which stipulates the need to publish the financial statements of all state institutions on their websites.

E-governance 

He pointed out that “the application of these procedures, the adoption of the e-governance approach and the completion of the necessary transactions electronically needed by the citizen will reduce corruption and contribute to raising Iraq’s assessment on these indicators.” In addition, the expert in the field of anti-corruption, Saeed Moussa, indicated that “Iraq scored 23 points according to the Corruption Perceptions Index for the year 2021,” noting that “this leap forward is important because the Arab region is a stagnation area in anti-corruption measures.”

 In his speech to the Iraqi News Agency (INA), Moussa explained that “in order to work on Iraq’s progress in indicators, we need to reform the political system and assign competence, integrity and experience in the public service, whether leadership or lower grades, to consolidate the rule of law and law enforcement, and to create a rational administration in accordance with Standards in managing and referring contracts, tenders and procurement based on the principle of competition between companies. He pointed out that “Iraq launched a national strategy to combat corruption, which included mechanisms for analyzing the environment, knowing sectoral risks and developing solutions to them by adopting prevention, reform and deterrence.”

Tackling corruption

For his part, economic expert Hamza Al-Jawahiri told the Iraqi News Agency (INA), “Corruption is the basis of the intractable problems in Iraq, whether they are in the sectors of electricity, water, health, education, housing, etc., where all work sectors in Iraq suffer from crises and are very backward,” noting.

Tackling corruption lies in eliminating quotas and consensus, meaning that major jobs, from a minister or below, even to the prime minister, should not be from parties.” And he continued, “People must be chosen for jobs on professional bases, because the professional person will have better work than the emergency person,” adding: “The professional person also fears the pressures imposed on him by corrupt parties because he does not have a party to defend him, which makes him Create more and produce more.

On August 30, 2020, Prime Minister Mustafa Al-Kazemi formed a higher investigation committee into major corruption and criminal crimes, headed by Lieutenant-General Ahmed Abu Ragheef, linked to the Office of the Commander in Chief of the Armed Forces, to investigate major corruption and criminal crimes and Prime Minister Mustafa Al-Kazemi confirmed during the conference to recover the stolen funds last September, that the Anti Corruption Committee had disclosed files that had not been disclosed 17 years ago

The committee executed arrest warrants against former and current officials, including the director general of the State Iron and Steel General Establishment, Abbas Hayaal, as well as the director general of the Iraqi Cement Company, Ali Saleh Mahdi, while it directed to freeze the work of 8 general managers in the Ministry of Industry, and to prevent their travel until the investigation and scrutiny of the charges are completed. for them.

And it arrested Qassem Hammoud Mansour, general manager of the General Company for Food Stuff Trading, on corruption charges, and the former director of the Key Card Company, Bahaa Abdul-Hussein Abdul Hadi, and recovered more than 13 billion dinars from the value of Al-Rasheed Bank’s profit dues for the years 2014 upwards. 

The committee arrested the Director General of Investment in the Ministry of Electricity, Raad Muhammad, according to an arrest warrant issued in accordance with Article 310 of the Penal Code related to corruption and bribery. Based on the committee’s investigations, the former director of the National Pension Agency, the accused (Ahmed Abdel-Jalil Al-Saadi) was arrested in accordance with the provisions of Resolution 160 of 1983) on charges of corruption and taking bribes.  LINK

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Samson:  Legal expert: Attacks on embassies and airports may expose Iraq to international sanctions

28th January, 2022

Legal expert Ali Al-Tamimi confirmed, on Friday, that attacks on embassies and airports may expose Iraq to international sanctions.

Al-Tamimi said in a statement received by Shafak News Agency, “On the domestic scale, hitting airports is considered an international terrorist act, punishable by Anti-Terrorism Law No. 13 of 2005 according to Article 4 of it, and the death penalty for these crimes, and here the security services must hunt down the perpetrators.”

He added, “Internationally, this act violates the Fourth Geneva Convention of 1949 and the Chicago Convention on Civil Aviation 1944, which considered aircraft to be part of the soil of the state to which they belong. Therefore, the attack on these aircraft is considered an attack on that state that owns the aircraft and exposes the state in which the aircraft is located to international sanctions. as a threat to international peace and security in accordance with Articles 38 and 102 of the Charter of the United Nations.

Al-Tamimi pointed out that “Iraq can request assistance from the United States of America in accordance with the 2008 agreement, Article 27 of it, to detect these criminals.”

And he added, “The continuation of these crimes against embassies and airports is a threat to international peace and security that may expose Iraq, according to what we have mentioned, to international sanctions, airports and embassies are the front of the state, which must be inevitable protection.”

This morning, Friday, Baghdad International Airport was bombed with at least six missiles, according to an official security source in a statement to Shafaq News Agency. The Security Media Cell announced the details of the damage caused by the missile shelling that hit Baghdad International Airport, noting at the same time that it had found threads leading to the attackers.

The cell said in a statement today, “The terrorist gangs targeted Baghdad International Airport at dawn today, with six Katyusha rockets, in an attempt to target the country’s capabilities.” According to the statement, those missiles “landed on the waiting area for Iraqi Airways planes, which led to damage to two planes that were perched on the runway.”  LINK

Monday Night KTFA CC "A Change...For Me" 1-24-2022

KTFA

Monday Night KTFA CC

Frank26:  1-24-22……..A CHANGE…….FOR ME

Special report tonight from Walkingstick……..

“The scuttlebutt, after the meetings we had today is either 1000 to 1, or 1 to 1, or 1 to 1 with a float. “

This video is in Frank’s and his team’s opinion only

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

MilitiaMan Sunday Afternoon "Let's See How High The Tide Rises" 1-23-2022

KTFA:

Monkey:  articles about returning to old rate seem to be sayng very cleeerly that it is back to the last change rate last year IMO   nothing about 1:1 or $3 somethig – am I wrong?  help please  

MilitiaMan:  That appears to be what they are saying, however, why would the revert back to a program rate that is not nor was ever international? Why would they have destroyed massive amounts a large 000 notes. Many of us watched the video on it specifically.

The accounts at the CBI showed they payed for new currency. The obvious take away is that they are doing what they said they were going to do and that is to return to the glory days or in recent terms to the predecessor.

1190 doesn’t support new small category notes. Nor does it show that Iraq will be IMF Article VIII complaint 100%.. imo ~ MM

Samson:  Who determines the value of the currency, and what are the factors affecting it?

23rd January, 2022 by Akram Sami Fayez

Man has known about money and used it as a medium of exchange for several centuries, due to the multiplicity of his needs and desires resulting from the economic and social development in life. Paper currency was invented.

The value of the paper currency does not stem from the ability to convert it into coins (gold and silver), but rather from the guarantee of the issuing government, while the value of coins comes from the same materials from which they are made, such as gold or silver, whose exchange value was similar to their original value.

The value of the currency refers to the exchange rate of each country, which is determined according to its own currency. The value of the currency was previously determined according to the gold owned by the country, but in 1971 America stopped linking its currency to the dollar, taking advantage of its economic control over the world, and from that moment most global currencies became valued in dollars.

The US dollar instead of gold, and the banks determine the amount of currency in circulation and according to the market need, that is, if the amount of currency printed in the market increases without an increase in the volume of services and production in the country, the value of the currency decreases, and this is called inflation, but if the amount of services and goods increased and the amount of the offered currency did not change In the market, the value of the currency increased or its purchasing power increased.

The exchange rate is defined as the number of units of a particular currency that must be paid to obtain one unit of another currency, or it is the number of foreign exchange units that equal one unit of national currency, in other words, the ratio of the exchange of two currencies, one of the two currencies is considered a commodity and the other currency is considered a price for it.

The importance of the exchange rate is that it represents a link between the local economy and the international economy, and is also a determinant of the competitiveness of the local economy.

There are many methods that countries follow to determine the price of their currency, namely the fixed exchange rate and the flexible exchange rate.

Under the fixed exchange rate method, the government determines the exchange rate for its currency through the central bank, and the price is fixed fixedly, by linking the country’s currency to the currency of another country (the dollar, the euro, or Yen), for example, some Arab Gulf countries link their currency exchange rate to the US dollar, and some other countries link their currency to a basket of currencies such as the State of Kuwait, and therefore the value of the currency is determined through the Central Bank and is not affected by supply and demand.

As for the flexible exchange rate (currency float), in light of this method, the price of currencies in the currency market is determined by supply and demand, meaning if the demand for the currency is high, the value of the currency will increase, and vice versa if the demand is low, the value of the currency will decrease, for example if Iraq’s exports increase

To the outside world, those countries will pay the value of those exports in Iraqi dinars, which leads to an increase in demand for it, which leads to a rise in its value and vice versa. Developing countries that depend heavily on imports will depreciate the value of their currency.

It should be noted that the value of the currency does not necessarily reflect the strength of the economy. A country’s currency may be weak, but the economy is strong, for example, the Japanese yen (the value of the Japanese currency is low, in order for exports to global markets to be at a low price, which leads to an increase in demand for it in addition to Low production costs and this leads to attracting foreign investment into Japan).

The value of the currency in a country may be high and the economy is as modest as the Jordanian dinar, that is, the countries that depend on exports are served by the low value of their currencies.

As for importing countries, the high value of their currency is the most appropriate for them, and in general, countries seek through the Central Bank to keep the price of their currency appropriate for international trade.

In addition to the above, the currency exchange rate has three main functions:

A: – The standard function, where local producers depend on the exchange rate in order to measure and compare the domestic prices of a particular commodity with international market prices.

B:- The developmental function, the exchange rate is used to develop certain exports to certain regions by encouraging exports.

C: – The distributive function, and this function is accomplished through the practice of international trade activities, through which the exchange rate is able to redistribute national income and national wealth among the countries of the world.

The exchange rate is affected by several economic factors, including (interest rate, public budget deficit, foreign exchange reserves, international loans, balance of payments, inflation and the rate of economic growth). As for the non-economic factors that affect the exchange rate, they are turmoil, wars, rumors and news.

Therefore, governments can deal efficiently and effectively with economic and non-economic factors affecting the exchange rate in order to enhance the value of the currency and increase its purchasing power.  LINK

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MilitiaMan:   Samson thanks again for your hard work. Truly an amazing talent you have and it is so very much appreciated.

The education process is clearly in play still for all to see.

Talking about the exchange rate process and it’s functions is obviously very timely at this stage.

Iraq has many things to export. Oil being number one. There is an abundant amount of natural resources, etc.. When they are sold in Dinars it will increase demand for the currency and support it’s value from that exportation process.

The Central bank will be in a position to defend the currency to keep it appropriate for international trade.

That will require and international exchange rate. Not a program rate they have at present.

With a Real Effective Exchange Rate (REER) they can deal efficiently and effectively with economic and non economic factors that effect the exchange rate in order to enhance the value of the currency and increase it’s purchasing power.

Purchasing power, is a key item in the news for to benefit the citizens,  a largely desired outcome that is expected. From the looks of it, it is a key focus that is not going away. The project to delete the zeros from the exchange rate is the plan and it is clearly underway.

The digital transformation regionally and globally is the driving force to interlink the stock and financial markets. The AMF, World Bank, IMF, Central Banks, etc., are all on board for activation. 

They are geared for transparent (electronic) taxation at the ports and borders and that is not just limited to Iraq!!! 

This is a big deal we are facing now.. Lets see how high the tide rises. imo ~ MM

KTFA Members Dinar "News and Views" Sunday 1-23-2022

KTFA:

Samson:  Parliamentary Honest : Returning The Dollar Exchange To Its Previous Price Is One Of Our Priorities

23rd January, 202
On Sunday, The Representative Of The Al-Sadiqun Parliamentary Bloc, Rafiq Al-Salihi, Confirmed That Returning The Dollar Exchange Rate To Its Previous Price Is One Of The Priorities Of The Al-Sadiqun Bloc And Other National Forces That Share The Opinion With It. 

Al-Salihi Said In An Interview With “Al-Ahd News”, “The Al-Sadikoun Bloc Will Pay Great Attention Through The Legislation Of Laws That Serve The Poor Segment.”

He Added That “Returning The Dollar’s Exchange Rate To Its Previous Price Will Be One Of Our Priorities During The Upcoming Sessions,” Stressing That “The Continued Rise In The Dollar’s Exchange Rate Has Caused Very Serious And Great Damage To The Poor And Low-Income Segment.”  LINK

Samson:  Al-Fatlawi: The 2022 Budget Will Not Be Passed Until The Dollar Is Returned To Its Old Price

23rd January, 2022

A Member Of The Coordination Framework, Ali Al-Fatlawi, Confirmed Today, Sunday, That The Draft Budget Law For The Year 2022 Will Not Be Passed Until After An Important Condition Is Met.

Al-Fatlawi Said In A Press Interview Followed By Al-Ahed News, “The Coordination Framework, Through Its Presence In The Iraqi Parliament, Will Work To Restore The Dollar’s ​​Exchange Rate To Its Old Price, And Otherwise, It Will Not Allow The Passage Of The 2022 Budget Bill Until After This Condition Is Achieved. The Important”.

Al-Fatlawi Added, “There Is No Current Justification For The Dollar’s ​​Exchange Rate To Remain In Its New Form, Especially With The Significant Rise In Oil Prices, And Raising The Dollar’s ​​Exchange Rate Has Greatly Affected The Lives Of Citizens, As It Raised Prices In The Market, And Contributed Significantly To Increasing The Poverty Rate, Which Is Why We Are Serious About Restoring The Price To Its Previous Position.”  LINK

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Samson:  Changing the price of the dollar .. a government desire to walk in it and a parliamentary movement to return it to its previous era

23rd January, 2022

More than a year has passed since the Iraqi government decided to change the exchange rate to 1445 dinars against the dollar, but the rise in dollar prices and the recovery of the state treasury prompted several political blocs to move to restore it to its previous era before raising its value estimated at 1190 dinars.

Despite the words of Finance Minister Ali Allawi, that “the decision to raise the value of the dollar contributed to stopping the layoffs and increasing the reserves of the Central Bank,” but the economist Rashid Al-Saadi considered, “The process of changing the dollar exchange rate was catastrophic for the economy, and there are a number of solutions to realize it.”

Al-Saadi added in an interview with “Mawazine News” that “the state had to resort to other methods to compensate for the lack of treasury resources, such as controlling the resources coming from the border outlets, including the region, and oil resources exported from the region, and depositing revenues of 260,000 barrels to the SOMO Company on a daily basis. 

 Investing in operating idle projects and mobile phone companies that drain large sums of money from citizens, in addition to transportation projects in general. He points out, “Our demands are many to reconsider the dollar exchange rate, but the state is not serious in this regard, and because its impact was on the fragile middle and poor classes, it will not cause any shock to the market if the exchange rate is restored to its previous value.”

The statements of the political blocs were renewed regarding changing the exchange rate to its previous era. The representative of the extension bloc, Alaa Al-Rikabi, spoke about efforts to restore the old exchange rate. Al-Rikabi says, “Our first and last goal is to serve the citizens, and one of our priorities that we will work on is to restore the exchange rate of the dollar to its predecessor.”

For his part, the representative of the coordination framework, Muhammad al-Qadri, said, “The coordination framework, through its presence in the Iraqi parliament, will work to restore the exchange rate of the dollar to its previous price, especially since this is the most prominent popular demand, as raising this price negatively affected the citizens and contributed to Paragraph Ratio.

He affirms, “The current parliament is able to return the dollar exchange rate to its previous rate, and the coordination framework will work to pressure the competent authorities to return it, and this work will be one of our priorities.”   LINK

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Monkey:  articles about returning to old rate seem to be sayng very cleeerly that it is back to the last change rate last year IMO….nothing about 1:1 or $3 somethig – am I wrong?  help please

Tivon:  MO: The waning notion or rhetorical theory regarding how the 2022 Budget needs to be passed and opened in order for the reinstatement of the Iraqi Dinar to occur has become conspicuously clear that is not the case and never held any grounds or basis for any conclusive statement to the contrary.

We have to understand how most of these political figures have something to lose once the national currency is Internationally recognized.

Lobbying is not an issue insulated only in American politics. Once Iraqi citizens gain purchasing power they will also acquire political power. The stalling delaying or postponing of certain laws or policies from being implemented to benfit the citizens is life & death for the corrupt once these files or officially open if they are not already.

Treason has been committed by governments across the world which include Iraq.

Corporate oligarchs bought these politicians to only pass laws that benefit the elite. In return they become insider traders where they get the jump on stocks before the value is driven up through supply & demand.

At least 182 members of US Congress violated laws to stop insider trading for stocks in 2021. They did not disclose their portfolio. This is a federal conflict-of-interest. They’re also a violation of the Stop Trading on Congressional Knowledge Act, a 2012 law designed to prevent insider trading and defend against financial conflicts among elected officials and their top aides.

Alot of the familiar faces in Iraq are involved in serious crimes. Insider Trading is one. “Human Sex Trafficking” is another. Ranked Tier-2 Status by US State Department. (We Know It’s Worse)

You can source the Sadam era for this but it has worsened since the end of his regime. Why do you think procrastination in doing what is right for the citizens is a default behavior?

The new exchange rate means more than just a financially stable independent technocratic government in Iraq. Heads will roll once the guillotine drops.

 Iraqi politicians know this better then anyone. The posturing to appear to abide by the citizens is a tactic to not appear to be working against the citizens. The reinstatement will occur at the expense of corruption to the benefit of the citizens.

Al-Kazemi is one of the few clean & clear politicians. So you can gauge the corruption with valid objective reasons when you see resistance against him in the chambers.

You have political figures wondering why and how Al-Kazemi has not been assassinated yet. You think they want to pass these laws to benfit Iraqis? They have no choice. They damned if they do, damned if they don’t. They lose regardless.

The promise of those 72 virgins in the afterlife will become less appealing once the hammer comes down on live televised trials for treason for would be offenders of the constitution.

Samson:  Who determines the value of the currency, and what are the factors affecting it?

23rd January, 2022 by Akram Sami Fayez

Man has known about money and used it as a medium of exchange for several centuries, due to the multiplicity of his needs and desires resulting from the economic and social development in life. Paper currency was invented.

The value of the paper currency does not stem from the ability to convert it into coins (gold and silver), but rather from the guarantee of the issuing government, while the value of coins comes from the same materials from which they are made, such as gold or silver, whose exchange value was similar to their original value.

The value of the currency refers to the exchange rate of each country, which is determined according to its own currency. The value of the currency was previously determined according to the gold owned by the country, but in 1971 America stopped linking its currency to the dollar, taking advantage of its economic control over the world, and from that moment most global currencies became valued in dollars.

The US dollar instead of gold, and the banks determine the amount of currency in circulation and according to the market need, that is, if the amount of currency printed in the market increases without an increase in the volume of services and production in the country, the value of the currency decreases, and this is called inflation, but if the amount of services and goods increased and the amount of the offered currency did not change In the market, the value of the currency increased or its purchasing power increased.

The exchange rate is defined as the number of units of a particular currency that must be paid to obtain one unit of another currency, or it is the number of foreign exchange units that equal one unit of national currency, in other words, the ratio of the exchange of two currencies, one of the two currencies is considered a commodity and the other currency is considered a price for it.

The importance of the exchange rate is that it represents a link between the local economy and the international economy, and is also a determinant of the competitiveness of the local economy.

There are many methods that countries follow to determine the price of their currency, namely the fixed exchange rate and the flexible exchange rate.

Under the fixed exchange rate method, the government determines the exchange rate for its currency through the central bank, and the price is fixed fixedly, by linking the country’s currency to the currency of another country (the dollar, the euro, or Yen), for example, some Arab Gulf countries link their currency exchange rate to the US dollar, and some other countries link their currency to a basket of currencies such as the State of Kuwait, and therefore the value of the currency is determined through the Central Bank and is not affected by supply and demand.

As for the flexible exchange rate (currency float), in light of this method, the price of currencies in the currency market is determined by supply and demand, meaning if the demand for the currency is high, the value of the currency will increase, and vice versa if the demand is low, the value of the currency will decrease, for example if Iraq’s exports increase To the outside world, those countries will pay the value of those exports in Iraqi dinars, which leads to an increase in demand for it, which leads to a rise in its value and vice versa. Developing countries that depend heavily on imports will depreciate the value of their currency.

It should be noted that the value of the currency does not necessarily reflect the strength of the economy. A country’s currency may be weak, but the economy is strong, for example, the Japanese yen (the value of the Japanese currency is low, in order for exports to global markets to be at a low price, which leads to an increase in demand for it in addition to Low production costs and this leads to attracting foreign investment into Japan).

The value of the currency in a country may be high and the economy is as modest as the Jordanian dinar, that is, the countries that depend on exports are served by the low value of their currencies. As for importing countries, the high value of their currency is the most appropriate for them, and in general, countries seek through the Central Bank to keep the price of their currency appropriate. for international trade.

In addition to the above, the currency exchange rate has three main functions:

A: – The standard function, where local producers depend on the exchange rate in order to measure and compare the domestic prices of a particular commodity with international market prices.

B:- The developmental function, the exchange rate is used to develop certain exports to certain regions by encouraging exports.

A: – The distributive function, and this function is accomplished through the practice of international trade activities, through which the exchange rate is able to redistribute national income and national wealth among the countries of the world.

The exchange rate is affected by several economic factors, including (interest rate, public budget deficit, foreign exchange reserves, international loans, balance of payments, inflation and the rate of economic growth). As for the non-economic factors that affect the exchange rate, they are turmoil, wars, rumors and news.

Therefore, governments can deal efficiently and effectively with economic and non-economic factors affecting the exchange rate in order to enhance the value of the currency and increase its purchasing power.  LINK