KTFA Members "News and Views" Monday Morning 9-2-19

KTFA

DELTA:  HUGE INFO IN.......... NEW SOFTWARE TO BUY AND SELL FOREIGN CURRENCY...

Al-Mansour Software Solutions

The first phase of the market Sar-Mal program for the sale and purchase of foreign currencies was launched between money exchanger only and will be run later between money exchanger and commercial companies only.

The Teller can now trade demo and educational through the application to participate in the stock exchange, and send the name of the exchange company and mobile phone and the name of the person authorized to deal in the stock exchange on e-mail or communicate via WhatsApp to get the link to the program.

Iobey777:  Wow!!!! Thank you,DELTA!!! This is what FF77 was talking about, IMO!!!

Frank26 Video Sunday night : https://dinarrecaps.squarespace.com/our-blog/frank26-video-sunday-night-9-1-19-coins-metals-and-fils

Don961:   THE FOLLOWING IS AN OPINION PIECE/FINANCIAL MODEL

Kamal al-Basri proposes "industrial dinar" to move the production wheel

Sunday 01 September 2019

Baghdad / Hussein Thaghb 

  A member of the Supreme Committee for Administrative Reform in the Secretariat of the Council of Ministers d. Kamal Al-Basri is a new model to support the private industrial sector through the industrial dinar, providing subsidized funding to industrial plants to start a phase of actual production in a phased manner, and contribute to address the problem of unemployment. 

 He added that "the problem of unemployment is troubling everyone and threatens social peace and political stability, which requires quick solutions, and that the Iraqi economy's increasing dependence on oil, requires to diversify sources of income on the basis of economic advantage of projects and achieve greater economic and social effects."

Feasibility

He said: The proposal "is based on the adoption of economic feasibility, which exceeds the cost of government subsidy proposed, which seeks to address unemployment and diversify sources of income through the window of the private industrial sector, which requires the government to allocate a financial amount ($) with the Industrial Bank, according to which one dollar is spent For 600 dinars (instead of 1,200 dinars). "    link  

Doodlebug:  WOW! This is incredible! I don't think I have ever seen anything like this before!!! Kamal al-Basri is a VERY WELL connected individual in Iraq, I won't bore you with the details but he comes from a very wealthy family in Iraq and was educated in Scotland.

I believe Samir Al-Nusairi picked al-Basri to write this (cough cough) "opinion piece". I have mentioned before that nothing comes out of the GOI with re: to the CBI without the approval of Al-Nusairi. 

But what's with the number, 600?!?

That's not what we were expecting! Seems as though Iraq is following the same steps as Mr. Frank26 and this was written "on purpose, with purpose". Six hundred (600) is easy for the citizens to understand. It is double the purchasing power. That's easy, right? One IQD is now worth Two IQD.

As they say here in the States, keep it simple, stupid. Is this the number that the CBI will come out with sooM? Who knows. But what I believe we should take note of here is that this "opinion piece" gives the citizens hope, encouragement and more education on what is about to happen in their country.

 Bravo, Shabibi, bravo Al-Nusairi and bravo Halbousi. I have a feeling we will be seeing you at the helm of this country sometime in the near future.

All of this is in my opinion only. Thank you Frank, WS and iTeams. Thank you Mr. Fire for all your hard work.

Samson:  Parliament: We will initiate the replacement of ministers in case of proven mismanagement and corruption

2nd September, 2019
MP Jassim Mohan al-Bukhati, said Monday, that the House of Representatives will withdraw confidence from ministers in the case of proven mismanagement and corruption. 

Al-Bukhati said, "The legislative chapter will see the hosting of ministers who will be replaced by parliament and withdraw confidence if they are proved by the bad evidence of mismanagement and corruption." 

Al-Bukhati stressed that "events can not be anticipated, especially since there are five ministers' cases under hand or will be referred to the integrity, and then the Prime Minister will enter the negotiations and the issue of political blocs to resolve the selection of new ministers or be selected in a quick manner to fill the shortage in the cabinet So, we cannot anticipate events. "    LINK

**********************

Samson:  Legislative law: more than 150 legislation in the inclusion of Parliament pending passage

2nd September, 2019
The Parliamentary Legal Committee revealed on Monday that there are about 150 legislation awaiting passage during the current parliamentary session, indicating that political differences and preoccupation with the completion of the government hindered the passing of many issues. 

A member of the Committee Hussein al-Oqabi in a statement to / information / that "Parliament has submitted about 100 law proposals, mostly to support the government program and modernization of legislation on the economy and investment." 

He added that "the most outstanding outstanding laws are the Federal Court, the State Administration, Public Debt, the Federal Services Council, the Olympic Committee, oil and gas, and others."  indicating that "the Council is obliged to support the reform program of the government by passing its own laws during the current electoral cycle."    LINK

*******************

Samson:  Legal expert reveals five drafts in parliament for oil and gas law

2/9/2019 13:24

An expert in constitutional affairs called on the House of Representatives to stop attempts to control the judiciary and leave to legislation to raise the standard of living of the Iraqi citizen, stressing the importance of the adoption of the oil and gas law, pointing to the existence of five drafts of this law should be consolidated in order to find A legal system to regulate the oil relationship between the federal government and the regions and local administrations.

The expert said Mohammed Sharif in a statement received by the agency (Euphrates News) a copy of it, that "the House of Representatives will open Tuesday new legislative chapter with more differences between the blocks on the outstanding laws."  Sharif added that "blocs and parties still adhere to the need to legislate the law of the Federal Supreme Court as the closest way to control the judiciary fully."  And that, "there are a number of laws should pay attention to, and legislation, which touches the citizen directly and would raise the standard of living." 

Al-Sharif pointed out that "the most prominent of those laws stipulated by the Constitution is the oil and gas law, which was submitted its first draft in 2007 and the House of Representatives inability to pass so far, although it concerns the natural wealth in Iraq, which is constantly disputed." Sharif stressed, "Information leaked from the House of Representatives confirms the existence of five drafts of the law submitted by successive governments and specialized parliamentary committees and the Presidency of the Republic." 

He called, "the parliamentary blocs to hold intensive meetings with all the relevant authorities in the forefront of the government in order to unify those projects and proposals in one draft to be agreed and passed in accordance with the correct constitutional contexts." 

Sharif said, "The law of oil and gas regulates the distribution of wealth among Iraqi society, it is not reasonable that oil, which accounts for about 90% of the treasury resources still suffers from the lack of a legislative system."  He stressed, "The most important treatments that will be provided by the law of oil and gas in the event of its adoption is to regulate the oil relationship between the federal government and the Kurdistan region, as well as with local administrations."

"The continued disregard of this law is a disregard for the capabilities of the people and a disregard for the livelihood of a citizen who depends directly on oil," he said.    LINK

KTFA Members "News and Views" Sunday Afternoon 9-1-19

KTFA:

Don961:  Parliamentary Finance: The imminent entry of the oil and gas law into the legislation .. And reveal its political dimensions

Release date:: 2019/8/31 21:46 

A member of the Finance Committee revealed that the imminent entry into force of the oil and gas law.

Committee member Sherwan Mirza said in a press statement, "One of the recommendations made by the Finance Committee to the Presidency of the House of Representatives after hosting the Minister of Finance is the legislation of the oil and gas law during the new legislative term." 

He added, "The oil and gas law has political dimensions as it is linked to relations between the Kurdistan region and the federal government and the province of Basra and Baghdad and all oil-producing provinces in addition to Kirkuk." 

Mirza pointed out that "the legislation of the oil and gas law will address some of the outstanding problems between the region and the center, in addition to addressing the problems of oil-producing provinces;    link

CSHessman:  trying to recall ... didn't W$ say that whenever we saw Article 140 in force we would see the rate soon thereafter ??? memory is a little fuzzy on that ... anyone else recall that more affirmatively?  ps this is looking kinda BIGLY to me...(smile)

Iobey777:  IMO..YES!  AndI also think it’s BIG!!

Moparman:  This is huge and I believe that this will be in affect after the currency has value.

Tivon:  IMO: The Supreme Court already demanded that they activate Article 140. But sense Iraq is still under a corrupt proxy government the Oil & Gas Law can not pass.

The second legislative term is just about started and the International Monetary Fund (IMF) has also yet to have their suggestions and warnings adhered to when they said multiple times last month that Iraq needs to change their fiscal policy status.

Also on September 3rd deputies of political parties within the (GOI) lose their immunity in a few days. So maybe this will expedite the process of initiating Article 140 as those who are found to be guilty of corruption are already listed as persons of interest through Interpol.

We know the new fiscal year starts Oct 1st. Along with that comes the NASDAQ trade deal with Iraq which we suppose will accompany a new rate.

Aside from that the Central Bank of Iraq (CBI) is exclusively independent of the government and has the authority to implement the deletion of the 3 zeros project. Jordan & Iraq officially launched joint economic trade today which supports the private sector. 

Samson:  Kurdish deputy: Baghdad and Erbil serious to resolve two files soon

1st September, 2019
Deputy Kurdish, on Sunday, the possibility of the Iraqi parliament's role in resolving the contentious issues with Baghdad, expressing optimism to reach solutions close to a number of outstanding issues.

The deputy of the Patriotic Union of Kurdistan, Pistone Zangana of the new Arab, that "there is seriousness by the governments (Baghdad and Erbil) to resolve the differences that remained stuck between them over successive parliamentary sessions."

He stressed that "a high-level Kurdish delegation will visit soon to Baghdad, to discuss and complete the results of the Baghdad delegation's visit to Erbil recently, by the Minister of Oil and other officials in the government of Baghdad. There is a serious response from both parties, especially in the files of oil and gas and salaries of the region that we seek To resolve it."

Zangana pointed out that "there will be important topics on the table, including the budget of 2020, and we will endeavor with the beginning of the legislative chapter to resolve the outstanding differences on them, and those on the share of the region, salaries of the Peshmerga, and other financial allocations, in return for the commitment of the Government of Erbil to deliver oil imports to Baghdad, the border outlets."

He stressed "the possibility of the Iraqi parliament to play an important role in resolving differences, and the Kurdish parties had meetings and dialogues with other parties and blocs and leaders of political blocs, and reached some understandings on a number of files, and we held several previous sessions," explaining that "there is an understanding within the parliament for the number Of laws that come into contact with the crises of Baghdad and Erbil, which are controversial laws between them, and seek to resolve them, and we await the new legislative chapter in the hope that follow-up on these important files."     LINK

Iobey777:  IMO......didn’t Frank say something about  two files left? If these re the files he was talking about, then I pray they do get it done “in the beginning of the new legislative chapter”,!!!!!!Like in the next few days! I’m thinking a shiny new rate might help them to close the files!!!

’*******************

Samson:  The Central Bank approves international rating agencies to classify banks operating in Iraq  LINK

Samson:  TRADE BANK OF IRAQ - POINT OF SALE (POS)
1st September, 2019
With the Iraqi Cards, you can pay your bills online through the you devices that are all over Iraq.

VIDEO LINK    LINK

Samson:  The Minister of Interior directs to deal firmly in the implementation of arrest warrants in Basra

1st September, 2019

The Interior Minister Yassin Taher al-Yasiri on Sunday the competent security services in the province of Basra to deal firmly in the issue of the implementation of arrest warrants.  This came during his visit to the Court of Appeal of Basra and his meeting with the President of the Court Judge Adel Abdul Razzaq to discuss the issuance of arrest warrants against wanted persons for justice. 

During the meeting, the Minister of Interior confirmed in a statement to his office that Euphrates News received a copy of them "not to tolerate those who provoke tribal disputes, organized crime gangs and drug dealers, directing to deal firmly with the outlaws and issuing arrest warrants for anyone found to be involved in destabilizing security." And threaten the lives of citizens." 

He stressed "the need for continued cooperation and coordination between the security and judicial institutions in order to achieve security and stability," pointing to "the importance of the implementation of arrest warrants issued against those wanted for justice in all areas of the province of Basra without hesitation." For his part, welcomed the President of the Court of Appeal of Basra, Judge Adel Abdul Razzaq visit of the Minister of Interior, stressing his keenness to cooperate with the security services to provide a safe life for the people of Basra province.   LINK

Delta and KTFA Members Friday Afternoon 8-30-19

KTFA:

DELTA:   I DID ASK TBI BANK IF I CAN USE MASTER CARD ABROAD...

ANSWER FROM TBI ...

"you can use it in withdrawals from ATMs and direct purchase from the points of sale as well as in the Internet such as subscriptions and airline reservations, hotels, shopping sites and promotion in social networking pages in any country of the world except Brazil, Indonesia, Syria and Iran."

GodsServant:   Sounds International to me. How can you use it at a PR (program rate) Delta?

******************

AHWman:  Family, Frank maintains that the CBI has said that they will delete 3 zeros from the exchange rate, however the most recent articles that I’ve read from the CBI seem to clearly indicate that they intend to delete 3 zeros from the currency.  What am I missing?  Are we just hoping or assuming that they’re referring to the exchange rate, or do we actually have documentation specifically indicating such?

***********

Matthew1:   When they mention deleting the 3 000's in this manner they are meaning to lift 3 000's from the exchange rate but also taking the physical notes with 3 000's on them out of circulation.  That is why they were so insistent of trying to get the citizens over the years to come in to the bank and turn in their 3 ZERO notes.  The 25,000, 10,000, and 5,000 Dinar notes. 

 What happens to a currency when you have less of it in circulation?  The value goes up.  Supply and Demand in play again.  Iraq has been trying to lower the PHYSICAL NOTE count for years also.  The citizens are smarter than that.  That's why many citizens are still holding on to their larger 3 000  notes.  I hope this helps. 

The citizens have been promised purchasing power for years.  I pray we are there.  When the 3 ZEROS are lifted from the exchange rate the purchasing power will rise in Iraq.  But, Dinar holders like us will really benefit because we hold 3'000 notes that WE will be able to exchange at full international market value. 

 In Iraq a Dinar is a Dinar.  Outside of Iraq a Dinar could be IMO be trading as much as $3.21 to $3.91 very shortly after they raise the value by dropping the 3 000's from the exchange rate.  

Look at the CBI Website where it says that the current exchange rate to the dinar is 1,190 Dinars to every 1 US Dollar. That gives us the approximate current exchange rate of .00084 or 1/1190. 

When the 3 000's are lifted it very well may show on the CBI website $1.19, or .84.  (1190 minus 3 decimal points to the left and .00084 minus 3 decimal points to the right.) This is for the Iraq citizens in Country.  The international (OUR) Exchange Rate should be IMO be closer to the number mentioned above.  Many individuals get confused with how this works.

FRANK AND TEAMS have been teaching this too us for years now.  Many of us old timers finally get it.  I Think LOL.   I hope I have helped and not confused you even more.  I am glad to help. 

************

Don961: from 2013 , my notes ... sorry , news site no longer running :

Said committee member Abdul Hussein al-Yasiri that “the process of deletion of zeros from the national currency will begin during 2014, through an agreement with the central bank,” noting that “this project will lead to reducing the proportion of the national currency in circulation from four billion to one billion.”

He added that “the size will be reduced to a quarter and this will enhance the value and easy to transport,” noting that “fraud or manipulation of currency cash, it will be very difficult.”

Samson:  Talabani to an American delegation: the importance of re - start the application of Article 140

2019/8/29 23:45

The Deputy Prime Minister of the Kurdistan Regional Government, Qubad Talabani, on Thursday, in the city of Erbil, with a delegation from the US Consulate, and a Norwegian diplomatic delegation, topics of budget, oil, security, and relations between Erbil and Baghdad.

This came during a meeting with Talabani, the delegations separately, as the Vice President of the Kurdistan Regional Government discussed the issues of maintaining security and stability of the region after the emergence of dangers to the remnants of the remnants of the Islamic State in the border areas, stressing the importance of re-start Article 140 of the Iraqi constitution Disputed. 

Another focus of the meetings included highlighting the new steps of the KRG in solving problems and improving services, as well as explaining to the visiting delegations the extension and generalization of the reform process and developments in relations between Erbil and Baghdad.

The delegation of the US Consulate, along with Steven Vijn, the US Consul, included Andrew Linder, Political and Economic Affairs Officer at the Consulate, while the Norwegian delegation was headed by Norwegian Special Representative for Syria and Iraq, accompanied by Tony Allers, Norwegian Ambassador in Baghdad, and Rohr Huxdal, Deputy Consul. Senior Advisor to the Norwegian Embassy in Iraq.    LINK

*******************

Samson:  China: There is 'effective communication' during trade negotiations with America

30th August, 2019
The Chinese and US trade negotiation teams are in active contact, the Chinese Foreign Ministry said during a press briefing in Beijing on Friday. 

US President Donald Trump said Thursday that his country and China were due to hold trade talks on Friday, without giving details.  Trump's comments followed indications from China that it would not immediately respond to the latest increase in US tariffs on Chinese goods, and expressed a willingness to focus on abolishing the new tariffs, to prevent further escalation in the trade war, according to Bloomberg. American News, Friday. 

"There are talks scheduled at a different level," Trump said when asked in a radio interview with Fox News whether there would be talks scheduled for September with China.

China and the United States are engaged in a tariff war involving billions of dollars of products from the two countries, threatening the entire bilateral trade, jeopardizing global growth.   LINK

KTFA Members and Frank26 "News and Views" Thursday Morning 8-29-19

KTFA:

RE: Franks Video “Tighten Up” posted below

Iobey777:  I'm so very excited about the news today!! THANK YOU, FRANK and WALKINGSTICK for all the help!! IMO...we Must be getting close for the Canadian banks to be telling their customers which banks will exchange "foreign currency" and how much the spread will be!! OH YEAH!!

With all we have heard the last couple of days...let's see..the citizens are celebrating from "something", the CBI is showing them coins and talking about lifting the 3 zeros..and that's the BIG talk on the streets...

The citizens got a "special" ONE time text message from the bank yesterday! The education is flowing continually oh..and did I mention the citizens are CELEBRATING? C'mon!!!!

This is the last weekend of the month of August..Sept 1 is Sunday...Parl goes back.."supposedly" on the 3rd and Frank mentioned today that historically changes are made in Sept!

(IMO) Listen to the YT video! Oh yeah..and the Banks in Canada are talking about spreads and telling their customers which banks will exchange foreign currency!!

I'm thinking this weekend is the "perfect" time for them to spill the beans about the new rate!! It's TIME!!!    PRAISE GOD!

****************

Frank26:   TIGHTEN UP

https://youtu.be/GjS93Dz3duo?t=1

P71rock:  Tried to find a similar site to what frank showed on youtube and here is what i found. IMO.

https://www.knightsbridgefx.com/thankyouquote/
https://www.uexchange.ca/compare-rates.php

This site looks like the one Frank showed. (at about 19 min in video)

http://www.currencyexchangetor.....rison.html

Samson:  Parliamentary orientation to reduce significantly the national and religious holidays .. These are the most prominent

2019/8/29 8:37

The Committee for Endowments and Religious Affairs in the House of Representatives revealed a tendency to reduce public holidays within the relevant law.

The chairman of the committee, Hussein al-Yassari, said in a press statement that "this law was within the responsibility of the reconciliation and clans committee when the waqf was under its responsibility, noting that the committee, after becoming independent, was reinstated within the same relationship." 

The leftist allusion to the existence of "a tendency to reduce the number of official holidays that exceeded expectations" considering that "contrary to what exists in the countries of the world."  He added that among the fixed events is the third day of October, which is a national holiday, and on 14 of July holiday to announce the republican regime in Iraq, in addition to religious holidays and is the first and the tenth of the month of Muharram and the birth of the Prophet and the days of Eid al - Fitr and Eid al - Adha." 

The chairman of the Committee of Religious Endowments Parliament, on the existence of a proposal that the 25th of December to be a holiday on the occasion of the anniversary of the birth of Christ (p)". 

The leftist also pointed out that "there is a proposal that a limited number of these holidays to be assigned to the governor and provincial councils after the approval of the Council of Ministers, and that the name of the law (law of public holidays and memorabilia) such as celebration of the teacher or the popular uprising, which will not be an official holiday."  The dispute over whether Eid al-Ghadeer is a public holiday caused the law to be passed from the last session to the current one.    LINK

*********************

Samson: Parliamentary economy: one of Eid al-Fitr holidays, the state suffered losses worth 80 billion dinars
29th August, 2019

The Committee on Economy and Investment, on Thursday, that one of the holidays in the Eid al-Fitr, the Iraqi state suffered losses worth 80 billion dinars

The committee said in a statement received, the economy news, "We called on the parliament to amend the law of public holidays in the House of Representatives to determine the working hours in state departments and reduce some public holidays because they incur significant losses of the country," noting that "one of the holidays Eid al-Fitr has been incurred The state estimated losses of more than 80 billion dinars

The committee added in a previous report that "the Ministry of Planning has developed a study, that the number of employees in Iraq (4) million employees, including (2) million and (200) thousand civil servants and the rest within the security services," noting that "the income of the Iraqi individual per hour The average monthly income of an employee is 500 thousand dinars for (22) working days and (6) actual working hours

She added that "if the number of holidays and counted on the level of per capita income per day will be found that Iraq is incurring significant losses in public holidays by (8-10) billion dinars per day," noting that "one of the holidays in the country that lasted for (10) Days led to the loss of the country by more than (80) billion dinars through the salary of the employee without the presence of actual work LINK

 Samson:  Allocate a quarter of a trillion dinars to develop the ancient city of Babylon

29th August, 2019
Directorate of Antiquities of Babylon, on Thursday, the allocation of 250 billion within the five-year plan for the development and rehabilitation of the ancient city after its inclusion on the list of World Heritage. 

The director general of the Directorate, Hussein al-Amari, in a statement reported by the newspaper "morning" and saw it (information), that "the stage after the vote on the inclusion of the ancient city of Babylon will be a stage of proving itself and is more difficult than writing the file." 

Al-Ammari added that "international observers from the International Council of Sites and Monuments (ICOMOS) and the United Nations Educational, Scientific and Cultural Organization (UNESCO) make annual visits to assess the development of the site provided that it does not affect its archaeological status." He explained, “The Directorate, in cooperation with the provincial council, is in the process of rehabilitating infrastructure, restaurants, kiosks, the presidential palace and clading the Shatt al-Hilla area, in addition to installing surveillance cameras.” Which is included in the same list, as well as the support provided by the World Monument Organization for the rehabilitation of some archaeological facilities and buildings.”   LINK

*********************

Samson:   Contractor Ruling Against Iraq could top $140m

29th August, 2019
A US military contractor has won a judgment estimated at $140 million against Iraq to reimburse it for unpaid invoices relating to work done for the Iraqi Ministry of Defense.

Dale Stoffel, the President of Wye Oak Technology, was killed in mysterious circumstances fifteen years ago while attempting to recover the debt.

In its ruling, the District Court of the US District of Columbia said:

“Fifteen years ago, Wye Oak Technology, an American company, entered into the Broker Services Agreement (BSA) with the Iraqi Ministry of Defense (MoD) to play a key role in re-equipping the Iraqi military. Iraq urgently needed to rebuild its armed forces as the Coalition Provisional Authority (CPA) transferred sovereignty back to the Iraqi people and the interim Iraqi government prepared to hold its first parliamentary elections since the fall of Saddam Hussein.

“The BSA was set to be the central component of the Iraqi Military Equipment Recovery Project (IMERP). Under the BSA, Wye Oak was responsible for developing an inventory and assessing what military equipment was salvageable and what was scrap, providing military refurbishment services, arranging for scrap sales, and arranging for the sale of military equipment. Wye Oak began performing as soon as the BSA was effectuated.

“By October 2004, Wye Oak submitted three pro forma invoices to MoD for work in relation to the IMERP. But MoD never paid these invoices to Wye Oak. Instead, MoD paid a third-party, Raymond Zayna, the money owed to Wye Oak under the BSA. Nonetheless, Wye Oak continued to perform under the contract while desperately trying to extract the funds it was owed. And briefly, Wye Oak thought it succeeded. After months of performing vital activities as part of the IMERP despite not being paid, all issues seemed to be solved after a December 5, 2004 meeting. However, this was not the case.

“A few days later, Wye Oak’s president Dale Stoffel and his colleague Joe Wemple were brutally murdered on their way to arrange for funding to finally be released. Nonetheless, Wye Oak still did not immediately abandon the IMERP even after Dale Stoffel’s tragic death. Instead, Wye Oak exceeded the goal of producing a mechanized brigade of operational armored vehicles for Iraq’s January 2005 parliamentary election. Yet Wye Oak was never paid for the vital work it performed under the BSA.

“Now, more than fifteen years after Wye Oak entered into the BSA, and more than a decade after Wye Oak first filed suit, the Court finds MoD breached the BSA. And because MoD is an integral component of the national government itself, the Republic of Iraq is also liable for the breach. Ultimately, the Court will award Wye Oak damages for its three invoices, lost profits from construction, lost profits from refurbishing military equipment, and lost profits from scrap sales.

“Also, the Court will award Wye Oak prejudgment interest and costs, including reasonable attorney’s fees and expenses. “

According to Associated Press, a lawyer acting for Wye Oak estimates that the true judgment will total roughly $140 million.

More details here.    LINK

KTFA Members "News, and Views" Wednesday Afternoon 8-28-19

KTFA:

Samson:  Announcement of Auction Results (ICD604) (For Sale of Islamic Deposit Certificates)

28th August, 2019
The Central Bank approved on 26/8/2019 the auction of Islamic deposit certificates ICD604
amounting to (100) billion dinars for (182) days and was sold (13,770) million dinars to one
bank at a rate of return (% .2.00).    https://cbi.iq/news/view/1238

Frank26:   FASCINATING !!! !!! !!! 

Dan:  Billions to millions…….What happened with 3 000's

McDan:  IMO raised the value of the dinar ( future value )

************************

SteeleyJan: For those interested....below is the article Frank referred to Post #203:

Specialized: minted coins serve internal business transactions

Monday 26 August 2019 

DELTA  Specialized: minted coins serve internal business transactions

Monday, August 26, 2019

Emad Emirate Baghdad / Mustafa Al - Hashimi 

 There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.

Strategic Plan

Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support the value of the Iraqi dinar in trading 

"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said. Financial support for the national economy. "

Hassan said that "    link

Dkhens:    This is huge! It can not be any more clear what they are going to do imo.

Samson:  Trade is discussing with a US official Iraq's accession to the World Trade Organization

2019/8/28 17:46 

The Minister of Commerce, Mohammed Al-Ani, on Wednesday, during a meeting with Minister Plenipotentiary for Economic Affairs at the US Embassy to leave the blood of Iraq's keenness to develop trade and economic relations with all countries of the world.

"The Minister of Commerce Mohammed Hashim Al-Ani discussed with the Minister Plenipotentiary for Economic Affairs at the US Embassy Patrick Dam, ways to develop economic and trade relations between Iraq and America and exchange views on issues of mutual understanding," the ministry said in a statement received. 

The Minister pointed out that "during the meeting discussed the issue of Iraq's accession to the World Trade Organization (WTO) and the steps taken by Iraq to join the organization and the most important required files related to the process of accession in accordance with the requirements of the current stage, the most important file memorandum of foreign trade policy for Iraq and a file of the preliminary presentation of goods and services and a plan file Legislative implementation and the intellectual property file, as well as the issue of facilitating the granting of business visas to both parties.

The minister stressed, "Iraq's keenness to develop trade and economic relations with all countries of the world, especially the United States of America in the light of the government program announced by the Prime Minister and ratified by Parliament, in addition to the importance of developing and developing joint relations at all levels and seeking to open new channels of communication with Countries of the world." 

In turn, Minister Plenipotentiary Patrick pointed to "the importance of developing relations and activating them in the economic aspect."  He stressed, "the importance of the forum, which will be held during the next few months and includes businessmen between the two countries that Iraq has fertile ground encourages investors to enter the Iraqi market and this forum includes all economic, trade, agriculture and industry to other areas."    LINK

 ******************

Samson:  Issuing a package of decisions related to the entry and exit of funds across the Iraqi borders
28th August, 2019

Ali Mohsen Ismail, chairman of the Council for Combating Money Laundering and Terrorism Financing, has issued a series of decisions concerning the controls on the declaration of funds when they are brought in and taken out across the Iraqi border

Among the new decisions, customs authorities may be allowed to search people and inspect their luggage to verify the authenticity of the information

As for the amounts allowed in or out of the territory of the Republic of Iraq, amounts below (10) thousand US dollars or the equivalent of other currencies are allowed to enter without authorization

Amounts exceeding (10) thousand US dollars to (20) thousand US Dollars are required to be declared with the need to show supporting the purpose of the introduction or removal of these amounts

It is required that the process of inserting and removing funds through financial institutions exclusively if the amount exceeds (20) thousand US dollars

One of the decisions stipulates that "the entry and exit of amounts exceeding (1,000,000) (one million Iraqi dinars) is prohibited even if they have been declared, and the amount is withheld and legal proceedings are taken   LINK

Samson:  Holding a training course entitled (Interim Financial Reporting in accordance with Standard No. (34)) for the period 9 / 29-2019 / 10/3  28th August, 2019    https://cbi.iq/news/view/1239

Holding a training course entitled (liquidity instruments in Islamic banks in accordance with the standard IFSB)  28th August, 2019   https://cbi.iq/news/view/1240

Holding a training course entitled (Islamic investment funds)   28th August, 2019   https://cbi.iq/news/view/1241

Holding the training course for (Cyber ​​Security) for the period 22-2019 / 9/26 28th August, 2019   https://cbi.iq/news/view/1242

Holding a training course entitled (Management of banking branches) in the province of Erbil for the period 22-2019 / 9/26  https://cbi.iq/news/view/1243

Holding a course entitled (audit and review of documentary credits) for the period 15-2019 / 9/19  https://cbi.iq/news/view/1244

Holding a training course entitled (investment risk management and methods of treatment) for the period 15-2019/9/19   https://cbi.iq/news/view/1245

Holding a training course entitled (Detection of counterfeiting and counterfeiting currency and matched in local and foreign currency) for the period 4-2019 / 9/5   https://cbi.iq/news/view/1246

**********************

Samson:   After reducing global tensions .. Oil prices are rising

2019/8/28 12:12

Oil prices rose on Wednesday after a report said US crude inventories were falling more-than-expected, easing concerns over economic growth from the trade war between Washington and Beijing.

By 06:52 GMT, Brent crude futures rose 1% to $ 60.10 a barrel, while US West Texas Intermediate crude rose 1.3% to $ 55.63 a barrel.  Data from the American Petroleum Institute showed a sharp decline in crude stocks in the United States last week, with imports falling, as stocks fell by 11.1 million barrels, compared with analysts' expectations of a decline of about two million barrels. 

The US government is due to release its weekly report on Wednesday, and if official figures confirm data from the Petroleum Institute, it would be the biggest weekly drop in inventories in nine weeks.  But worries about global growth amid a raging trade war between the United States and China, the world's biggest crude consumer, are likely to curb gains.  LINK

Frank26 and KTFA Members Tuesday Night "Look Up" 8-27-19

KTFA:

Frank26:   LOOK UP

Streamed live 39 minutes ago

https://youtu.be/hbUqqvMfNwQ?t=4

BS: Frank you've taken us from the BASEMENT to the STARS Thanks my Friend.....

PC:  We are at the point that this should be RV in days

TS:  I think "SOON" is very near

Weldonetexas:  I don’t see how this can drag into the 4th quarter. There has been way too much info/education to the citizens since last week. They have too pull the trigger sooner than later .

RedPilled andPoised:  Franks information coupled with other sources and what’s going on in the MSM is sure converging to a trigger being pulled. Closer than ever!

LM:  this is a three day weekend. would be a good time for an RV.

Tivon:  Reinstatement is the initiative that leads to revaluation in the latter weeks and months. A reinstatement does not have to occur in October…… It can happen now!

AE:  RD/RV/RI is the process

KJM:   RD/RI/RV……..RV is last... but at RI.. Iraq is already international and we can start exchanging

PC:  I believe Reinstatement is what is happening for all countries

TW:  why would they have coins they're not going to revalue there dinar in the coins are there to support the revalue of the dinar

VH:  I just hope a 25 k dinar note isn’t worth 25 dollars when this happens I pray everything we have been hearing comes true

RedPilledandPoised:   No lop. Deletion of the 3 zeros

AE:  for all of you who think it is going to lop,,,,we know that the 3 zero notes will co-exist with the 1,5,10,20,50,100,250,500,,,,ask your self why would they need to co-exist if they were going to lop

KJM:  LOPs only happen to countries that suffer from Hyper-Inflation. Iraq has inflation but not hyperinflation.

LM:  A lop is a redenomination. This is a Revalue or Reinstatement. Most believe it will be a Reinstatement as they said in one article last week meaning it will be around $3.22 per dinar.

KG:  I was in Iraq in 1990, exchange was 3.22

TS:  Put the IQD on the Forex and make it International. Pass the remaining bills to help the citizens. Bring out the coins and move the decimal point 3 places to the right

VH:  if we have a 25k dinar will we get 25 k usd at the banks

JD:  yes, Frank has said that many times

BD:  once the rate goes over 1.00 which it may start at 1.20

TS:  removing the 3 zeroes is from the EXCHANGE rate NOT the Currecy itself Read this many times LOL

VH:  I pray and wish for all of us the absolute best. We all are ready. If we all become multi millionaires remember to do great things with this blessing let’s all help the less fortunate.

SandnSea:  Frank- Beautiful Video, seems they are finally showing the citizens what has been promised for a very long time. Refreshing to hear & see.

Don961:  Baghdad sends a high-level government delegation to Erbil to complete the talks

2019/08/27 08:39:50 PM 

 o Baghdad / Range

A delegation headed by Federal Minister of Interior Yassin Taher Al-Yasiri will visit Erbil (today)

To complete the talks between the federal government and the Kurdistan region on the files of oil export and payment of funds and the application of Article 140 of the Constitution.

The visit comes in response to the visit of the President of the Kurdistan Regional Government Masroor Barzani to the capital Baghdad last July.

"The delegation of the Federal Ministry of Interior will come to Kurdistan to negotiate the differences between Baghdad and Erbil.

He added that "talks will take place between the two ministries, and is scheduled to discuss during the meeting the overall differences between Erbil and Baghdad."

On the committees formed to visit Baghdad, the Minister of Interior in the Kurdistan Regional Government said that "our committees are concerned with the security and military file and Article 140 and its application, and there is a committee to negotiate on oil and gas debts and a range of related topics."

The President of the Kurdistan Region, Nechirvan Barzani, and the President of the Kurdistan Regional Government, Masroor Barzani, visited Baghdad last month, in order to find solutions to the outstanding issues between Erbil and Baghdad, followed by a visit by an Iraqi government delegation to Erbil, during which he met with senior officials of the Kurdistan Regional Government.

The parliamentary circles confirmed to the extent during the past few days the intention of a high-level Kurdish delegation to visit the capital Baghdad to complete its negotiating rounds, which began in July, revealing that the delegation will present an initiative to the federal government aimed at zeroing crises.

`` The agreement that was signed before the Eid holiday between the oil and finance ministers of the federal government and the President of the Kurdistan Regional Government Masroor Barzani is the arrival of a Kurdish delegation from Erbil to Baghdad to complete the talks on the outstanding issues, '' said Shirwan Jamal Khidr, a member of the parliament's provincial and provincial committee.

The dispute between Erbil and Baghdad focuses on three main issues: energy (oil and gas), federal budget allocations and the disputed territories covered by Article 140.

"The meetings, whether in Baghdad or Erbil, will have one objective," Khader said in a statement to Al-Mada. "The solutions exist for oil, budget and Article 140."

He adds that "the joint technical committees between the parties will work to develop a new agreement in the federal budget law to ensure solutions to these files before sending them to the House of Representatives," believing that "the results will be positive this time between the two teams."

He stresses that "the current Kurdistan Regional Government is determined to zero all files inherited between Erbil and Baghdad and work to end them radically," noting that "the general orientation of the government open to Baghdad to resolve all outstanding problems."

He adds that "what reinforces this trend more recent Federal Court decision, which confirmed the constitutionality of Article 140," stressing that "the Kurdistan region is very serious this time in the application of the Constitution and resolve all outstanding differences between the parties."

The Federal Supreme Court, earlier ruled the entry into force of Article (140) of the Constitution of the Republic of Iraq, stressing that this continues until the implementation of its requirements and achieve the goal of its legislation.    link

KTFA Members "News and Views" Tuesday Afternoon 8-27-19

KTFA:

Samson:  Trade Bank of Iraq

27th August, 2019

A Video Guide to the activation and use of the cards of the Iraqi trade bank when they are issued and receive a one-time text message (we also confirm that this message with the password will not be deleted until the process is completed).

[OTP]    VIDEO LINK  

Popeye7:  Wowsers... Something tells us we are into something good...

********************

Samson:  A government delegation from Baghdad will visit Erbil tomorrow

2019/8/27 11:54

A delegation from the federal government will visit the Kurdistan region on Wednesday to discuss the issue of oil, the budget and the Peshmerga.   LINK

Iobey777:   just wondering....are they going to tell them "hold on! It's coming"!!! lol!! We all know what they are wanting from Baghdad!! IMO....so just DO IT!!

*********************

Don961:  Specialized: minted coins serve internal business transactions

Monday, August 26, 2019

Emad Emirate Baghdad / Mustafa Al - Hashimi 

 There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.

Strategic Plan

Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support the value of the Iraqi dinar in trading 

"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said. Financial support for the national economy. "

Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions. 

"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating  that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency." 

 Delete the zeros

Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end 

Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into 

Economy".

Al-Ghalbi added that "the central bank is constrained by the existing cash in the process of replacement, but foreign trade will not be affected as the price of exports will remain the same unchanged, as well as import payments are not affected because foreign exchange is in foreign currency versus domestic, which remains unchanged because The purchasing power of a currency do not change".

 Multiple benefits

"Changing currency and deleting zeros brings multiple benefits," said Al-Ghalbi. Public".

 He pointed out that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially Accountants. "

Monetary deception

Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by people with a large number of zeros that are pushing towards generating inflationary pressures. Of inflation Untamed. "

He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.    link

Samson:   UN Security Council to meet tomorrow on Iraq
27th August, 2019

The UN Security Council will hold a meeting tomorrow on the situation in Iraq, press sources said.

The sources said that "the meeting will be held tomorrow at 10:00 am New York time (5:00 pm Baghdad time)."

 It is expected that the Special Representative of the Secretary-General of the United Nations in Iraq Jenin Hennes-Blachart briefing soon after the start of the meeting.

The Special Representative will be presented by Ms. Hines Genin-Blaschart briefing on developments in Iraq and the mission of the United Nations to help Iraq (UNAMI).   LINK

****************

Samson:  World Bank confirms its support for the advancement of the economy of Iraq

2019/8/27 15:27 
Speaker of the House of Representatives Mohammed Halbousi, on Monday, with the World Bank economic conditions and ways to support Iraq in the economic file. "Halbousi received, on Tuesday, the Regional Director for the Middle East at the World Bank Saroj Kumar Jah." 

The statement added, "The meeting discussed opportunities to strengthen joint cooperation in the field of investment, and appropriate mechanisms to reduce administrative bureaucracy in ministries and state institutions, and create jobs for young people through strategic projects." 

Al-Hablousi said, according to the statement, "the House of Representatives keen to follow up the file of cooperation between the federal government and the World Bank, which contributes to the development and implementation of economic projects that support the citizen directly." 

For his part, Kumar Jah, "the World Bank's cooperation with Iraq, and support for the advancement of economic reality, and contribute to achieve development."    LINK

Samson:  Al-Mashat: Monetary policy in Iraq is managed by three elements you know ?

27th August, 2019
Chairman of the Board of Directors of the Arab Mashreq Bank Sadiq al-Mashat, Tuesday, "The Central Bank of Iraq is a government institution exercising its functions within the legislative framework of the state, and has its own specificity in the implementation of independent decisions of monetary policy and achieve price stability, which must be consistent with policy the general economic state. 

He Mashat said in a statement, said that "the role of the central bank is issued currency and managed by a state bank and its agent and financial advisor , a fund in which the state holds its monetary and financial savings," adding that "the Central last resort for lending Controller to regulate credit and portfolio on the soundness of the financial position of the banks as the banks' bank."

He added: "If there is some kind of overlap or lack of clarity in any of the powers of all parties concerned, it should not be reflected in the stability of the general level of prices and the exchange rate of the national currency against other foreign currencies, and the commodity side of the national economy." 

He pointed out that "monetary policy in Iraq is managed by three elements, two of which are under the direct disposal of the central currency auction, and interest rates on the dinar produced through the operations of the Central Bank, which is represented by the use of interest rate signal (central bank rate)." 

He continued: "The third factor is the volume of foreign currency flows realized from Iraqi oil exports subject to fluctuations in crude prices in world markets, which in turn paint the features of public spending."    LINK

********************

 Samson: 5 senior ISIS leaders killed in Anbar desert

27th August, 2019

The top counterterrorism agency said on Tuesday that three senior ISIS leaders were killed in the Anbar desert.

He said in a statement received by the Euphrates News that he was "following the statement issued by the counterterrorism agency on August 13, 2019, that 10 terrorists were killed in the Anbar desert by a coalition airstrike, according to accurate intelligence from the agency's intelligence. Among those killed were: 

1. Terrorist Ahmad Hamed Hussein Abdul Jalil Al-Ithawi, known as (Abu Muslim), Governor of Western States, 
2. Terrorist Abu Anas, Prince of Desert Sector in Al-Anbar Province, 
3. Terrorist Abu Waqas, General Media and Provider of Western States, in addition to other leaders. Their names could not be known to mutilate their bodies Rob. 

He noted that "this was the largest of its leaders in the organization of the cutter".   LINK

More "News and Views" from KTFA Members Sunday PM 8-25-19

KTFA:

Samson:   The strategic partnership between the government and the private sector is the cornerstone of Iraq's 2030 vision    LINK

MilitiaMan:   Moving to a market economy is essential now. They have calculated the mechanisms to do so now.

They'll also need to have the economic reforms in place at an international level  to support the new economy to come.

Attracting foreign capital is clearly going to come from a new exchange mechanism in place. Lets see if the ISX / NASDAQI provides the platform to allow that foriegn capital to have free un fettered movement!!

I sure would like to see the mechanism's being shown on electronic bill boards in the news to come now or ASAP.. lol.. imo ~ MM

*********************

DocK:  Mnuchin says 3 OPTIONS, Kudlow says 3 ZEROS - OOPS that slipped out...  
Starts at 2 min. mark 

 Watch Mnuchin's face     link   

Doodlebug:   Mnuchin said: “Free and Fair Reciprocal Trade. Tell them the President proposed the three options. Larry Kudlow interrupted and said, “three zero’s”.

Larry Kudlow said: The Three Zero’s that surfaced/written a year ago and wrote it again on Saturday, the President repeated it today… his vision here is ZERO Tariffs, ZERO Non-Tariff Barriers and ZERO Subsidies.

IMOO, Mnuchin didn’t have an expression, he always looks that way. LOL

Thanks Doc_K! Maybe the deletion of the three 0's has been talked about so much, they are using "0's" in other examples. LOL

Doodlebug:  Zero Tariffs, Zero Barriers, Zero Subsidies: Is This Even Possible?
July 30, 2018

On Tuesday, President Trump took to Twitter to talk about trade once again. But instead of repeating that “tariffs are the greatest” or “trade wars are good and easy to win,” the president struck more of a free-trading theme and called for the United States and EU to drop all tariffs, non-tariff barriers (NTBs), and subsidies:

The following day, President Trump and the President of the European Commission Jean-Claude Juncker agreed to take up the challenge. The two leaders released a joint statement that the United States and EU would “work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.”

The article continues, HERE:
Center For Strategic & International Studies, CSIS

Samson:  Trump offers Britain a very big trade deal at the G7
25th August, 2019

US President Donald Trump has pledged to British Prime Minister Boris Johnson a major trade deal for Britain after leaving the European Union, describing the new prime minister as the right man to get the country out of the EU

Johnson, who faces a delicate task to reassure European allies and not anger Trump at the Group of Seven summit in France, said trade talks with the United States would be tough but there were huge opportunities for British companies in the US market

Speaking to reporters before a bilateral meeting focused on trade, Trump said Britain's EU membership had hampered efforts to strengthen trade ties

"We are going to make a very big trade deal - bigger than any agreement we had with the UK," he said

Trump and Johnson spoke at the French resort of Biarritz, where he went to attend the G7 summit, which exposed sharp differences over trade protection and a host of other issues including climate change and digital taxes before they even started

British government officials say London favors a comprehensive free trade agreement with the United States after leaving the European Union, while some US officials, including Trump's national security adviser John Bolton, have spoken of a sector-by-sector approach   LINK

**********************

Samson:  G7 leaders unanimously agree to prevent Iran from acquiring a nuclear weapon

25th August, 2019
Leaders of the G7 countries said that their positions are identical on the Iranian nuclear file and that Tehran should not possess nuclear weapons.

Prime Minister Shinzo Abe, who is attending the Group of Seven (G7) meetings in the French city of Biarritz, expressed "serious concern that Iran is enriching uranium," Kyodo news agency reported.

In May, Tehran announced a reduction in its commitment to some items of the nuclear agreement on the size and percentage of enrichment of uranium and heavy water. Iran.   LINK

 Samson:  Facts about the consumption of black gold in the world

25th August, 2019

According to the US Energy Information Administration, the world consumed 96.92 million barrels of oil per day in 2016, while the top ten countries accounted for 60% of total global consumption.

With Brent crude averaging $ 60 a barrel today, global oil consumption is around $ 5.8 billion a day.

In her report, published by the American Oil Price website, the writer Julian Geiger addressed the quantities of crude oil consumed globally.

Major consumers

The three largest oil-consuming countries are estimated to be:

- United States by 20%.

- China by 13%.

- India by 5%.

These three countries dominate more than a third of global consumption.

In contrast, Saudi Arabia and Russia ranks fifth and sixth respectively in global consumption, although they are among the largest oil producing countries.

These figures are just daily rates for 2016 based on data provided by the US Energy Information Administration. Today, daily oil consumption is 100 million barrels or more.

According to the statistical review of the global energy sector, issued by the British BP, the consumption of crude oil has accelerated in decades.

Evolution of consumption

World oil consumption was estimated at forty million barrels per day in 1969, to reach 36.4 billion in 2018, equivalent to $ 2.2 trillion of oil consumption in one year.

Total global oil consumption between 1950 and 2018 is estimated at 1.457 trillion barrels.

Between 2008 and 2018 alone, the world consumed an additional 371.2 billion barrels.

Between 1950 and 1969, world oil production was 151.4 billion barrels.

In 1950, production reached 3.8 billion barrels, equivalent to ten million barrels per day.

To compare this figure with current production rates, the United States, Saudi Arabia and Russia produce much more.

By 2040, the world consumes about 42 billion barrels per year (Getty Images)

By 2040, the world consumes about 42 billion barrels per year (Getty Images)

Before 1950

Unfortunately, the methods used to keep records were not up-to-date and less effective than those used today.

In the past, not all oil-producing countries kept records indicating how much oil they were pumping, as did those that did not keep records of the amount of oil consumed, which made estimates of global consumption before 1950 vary widely.

Global demand

Oil demand growth is set to slow in the coming years, but that does not mean there is no increase in global demand.

With the world consuming 100 million barrels per day now, according to the US Energy Information Administration, oil consumption is expected to grow by 1.1 million in 2019, and growth next year is expected to reach 1.4 million.

However, forecasts for demand growth are often adjusted, with analysts predicting a decline in oil demand from the US-China trade war.

Consumption in 2040

The Organization of Petroleum Exporting Countries (OPEC) estimated demand growth of 7.3 million barrels per day between 2019-2023, and in 2019-2040 demand will reach 14.5 million. This means that by 2040, the world will consume about 42 billion barrels per year.

Compared to the remaining volumes of oil reserves starting in 2018, the world may still have 1.497 trillion barrels, with OPEC member states holding about 79.4% of oil reserves, including 64.5% in the Middle East.

Venezuela and Iran, which suffer from economic sanctions, hold 30% of OPEC's reserves, while Nigeria and Libya, which suffer from security risks that have hampered production operations, 5% of this reserve, which means not to exploit 35% of crude oil.

While OPEC holds the lion's share of world oil over the next decade, most of the new oil supplies will inevitably come from the United States.    LINK

*******************

Don961:  Ihsan Blower: Iraq and the foundations of international agreements and conditions?

 8/25/2019 4:57:14 AM  Baghdad / Obelisk:  

Ihsan al-Bluffh 
 
The contract is considered the most important form of legal action, which is the legal expression for conducting transactions both internally and internationally.

 The international bodies and organizations concerned with the subject of international contracts only on the occasion of commercial transactions, these bodies have made great efforts to unify the provisions of international trade, so emerged features of a new branch of the law, the International Trade Law, which includes international agreements that have been completed in the field of international trade and model contracts and conditions General developed in this area.

 The role of international contracts in the unification of international trade law:

 International trade law is the set of rules that apply to private law-related commercial contracts between two or more States.

This definition came in a report prepared by the Secretariat of the United Nations to be presented to the General Assembly in 1965 on the occasion of the establishment of a committee to unify the provisions of the law of international trade.

From this definition, we see that the law of international trade contains objective rules for the rule of international trade relations and is not merely a unification of national attribution rules so that a unified rule defines the national law applicable as the law of the State of the conclusion of the contract, for example, or the law of the State implementing the contract.

This is a general introduction that charts the legal relationship between contractors with respect to international trade and its laws. The UN legal bodies seek to establish general rules that safeguard the rights of contractors and balance the common interests of the Contracting States, whether between two or more parties, let alone to maintain a balance of common interests between Contractors.

In summary, Iraq conducted commercial contracts with neighboring countries in regulating the use of seaports with Kuwait did not take into account the national interests of Iraq, but exceeded them to threaten its economic and commercial security through the adoption of clauses that violate Iraq's interests seriously and threaten the national industry, in addition to allowing the Kuwaiti party Exercise powers that are inconsistent with the terms of international agreements

The basis in the trade agreements is the organization and balance of common interests in a legal context ratified by the contracting parties, after the development of a study of commercial and technical competence, strange that Iraq ratifies most of the agreements outside these administrative, legal and technical contexts, and the evidence shows clearly when reading the terms of the recent trade agreement with a state Kuwait, as the Iraqi side, ironically, only changed the name of the Republic of Iraq on the right, and ended up at this point ?.

The observer of the Iraqi issue has the right to put the executive, legislative and judicial authorities in front of legitimate questions in their role in preserving vital interests that threaten economic and food security through arbitrary agreements between Iraq and neighboring countries.   link

KTFA Members "News and Views" Sunday Morning 8-25-19

KTFA:

Don961:  Talking again ........ appears the CBI is tired of of holding the exchange rate steady/unchanged ... what do they have in mind ?

Economist: Reprinting the coin will reduce the burden of paper damage

20:14 - 24/08/2019

Information / Special…

Economic expert Latif al-Okaili said on Saturday that the government's approach to reprinting the currency would ease the burden of damage to banknotes in the markets.

Al-Okaili said in a statement to Al-Maalouma that the use of the metal categories and their descent for trading gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories. "This is a negative indicator of the country's economy."

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar, Al-Okaili said, "The central bank is tired of a fiscal policy to keep the exchange rate of the dinar against the dollar unchanged for not entering inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 25 T.  link

Don961:  repetir ... just cuz ...

Parliamentary Finance By Rudaw 19/8/2019

Iraqi coins that were previously in use

Rudaw - Erbil  

announced the parliamentary Finance Committee in the Iraqi parliament, on the trend to re-work in the currency and delete zeros from banknotes, in order to strengthen the economy. 

"During meetings and discussions with Central Bank officials, we stressed the need to re-operate the coins that were used in Iraq during the past decades, rather than paper that is damaged and printed in large quantities again," committee member Hanin al-Qadu told the official Al-Sabah newspaper. 

He continued that "the use of metal categories and their descent for circulation gives a notional value of the currency," saying that "a number of neighboring countries - exchange rates are very high against the dollar - and yet we find that it has a coin in order to preserve the currency and not need to ask for more banknotes, especially With small categories. "

He pointed to the surprise of the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market. 

Ahmed al-Saffar, a member of the committee, said, "The cost of a coin is more than paper money, and it is more difficult to carry it on the citizen." 

He pointed out that "inflation in the economy prevents the minting of coins and make them circulate among citizens," suggesting that "there is a step to delete the zeros preceding the coinage process to be a value for small groups to large." 

The Committee on Economy and Investment in the Iraqi Council of Representatives, revealed in 2014 that the Central Bank completed its preparations for the issuance of coins of seven small categories gradually in a project that takes between four to five years to complete.

The Iraqi currency was abolished in 1991 when the international economic embargo on the country increased the rate of inflation in Iraq by 1000%, and the situation under the economic siege resulted in a large and continuous rise in prices, which destroyed the value of the Iraqi currency and reaching a very low exchange rate, which made Coin and few currency denominations without value. 

It is noteworthy that the Iraqi dinar, which was equal to 3.22 dollars before Iraqs invasion of Kuwait in 1990, its value fell so that the dollar became equivalent to three thousand dinars by 1996, and the value of the exchange rate of the Iraqi currency significantly after 2003, but returned to stability at about 1200 dinars Per dollar.    link

Iobey777:  BINGO!!! There it is again! That “old”rate just keeps popping up! BOOM!! Go ahead and delete those 3zeros!!  IMO, it’s PAST time!!! Time to trim the tree and light the fireworks!!!

 *********************

Don961:  Economist: The central bank follows a fiscal policy to keep the dinar exchange rate against the dollar steady

By ahad5 24/08/2019 09:40 PM 

Ahd News - Baghdad

Economic expert Latif al-Okaili, on Saturday, that the government's approach to reprinting the currency will reduce the burden of damage to banknotes in the markets.

"The use of metal categories and their descent for circulation gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories," he said. This is a negative indicator of the country's economy. ”

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar, Al-Okaili said, "The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar fixed without change to not enter inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 8     link

Don961:  Ministers: 8824 cases of integrity before the Iraqi courts

Iraqi Prime Minister Adel Abdul Mahdi

 24 August 2019 06:33 PM

BAGHDAD - The Supreme Council for Combating Corruption held its 17th session under the chairmanship of Prime Minister Adel Abdul Mahdi to review the latest developments, especially with regard to the measures taken in the field of combating corruption by the executive, judicial and supervisory authorities, and follow up the implementation of the recommendations approved by the Council and implement them according to competence .

A statement by the Information Office of the Prime Minister that "the Council reviewed the statistics provided by the Supreme Judicial Council include the integrity cases before the courts before the competent number of 8,824 cases across Iraq and completed 5847 cases of all courts."

The Council stressed "the need to assign the judiciary and enable judges to perform their tasks, especially those related to issues of integrity with the need to resolve quickly ."

The statement added that "the Council discussed a number of topics on the agenda," noting that "the Prime Minister directed the need for the commitment of the Ministry of Oil to implement the recommendations on the file of oil smuggling and the timetable set for this purpose with the follow-up of executive procedures to ensure the elimination of corruption systems in the file Oil . "

The Council reviewed the draft memorandum of understanding with the Iranian side on the file of combating drugs and integrated measures that are in the interest of both countries.

The Prime Minister instructed the relevant authorities to prepare a comprehensive study that includes the aspects of combating drugs, empowering the working cadres, providing equipment and tools, as well as making this draft a basis for concluding further agreements with neighboring and regional countries, as well as bilateral agreements with different countries, and the need to finalize the final draft urgently. And sign these agreements.

The Council also discussed "the report of the Integrity Commission on companies operating in the field of customs clearance at border ports that did not meet the legal requirements and directed the Council to take legal procedures and hold accountable all violators and those involved in this aspect ."

The Cabinet discussed "a set of steps and procedures that enhance transparency and protect public money, which directed the Prime Minister to present them to the concerned parties and complete their requirements in order to be adopted and announced and obliging government institutions to implement as far as they are concerned ."

 The Supreme Council for Combating Corruption welcomed the attitudes of MPs and their initiatives to provide the necessary documents and evidence to enable the supervisory and judicial authorities and support them in the performance of their work. Control of the completion of its work . "   link

************************

Samson:  Kurdish deputy: Three tough sanctions await Kurdistan if it does not comply with the conditions of Baghdad

25th August, 2019
MP for the Future Movement Sarkot Shams al-Din, Sunday, from the non-compliance of the Kurdistan Regional Government with the conditions and directives of the central government in Baghdad, indicating that there will be three sanctions in the event of non-compliance. 

Shams al-Din said in a statement to the information, that "the Kurdistan region if it does not comply with the conditions and directives of the central government in Baghdad will face a scenario similar to what happened in the previous government of the closure of airports and budget cuts and salaries as well as the closure of the outlets of the region." 

Shamsuddin added, "Kurdistan has a golden opportunity towards joint relations with Baghdad, and therefore their failure to abide by the conditions of the central government will expose the region to the consequences of serious and ominous consequences."  LINK

KTFA Members "News and Views" Friday PM 8-23-19

KTFA:

MilitiaMan:  Looks like they are getting along and have agreed to work together from now on..  They also may have also sorted the oil between themselves as well,  if not will or may very soon. imo ~ MM

Samson: Baghdad and Kurdistan agree on partnership in international conferences and meetings

23rd August, 2019
The Department of Foreign Relations in the Kurdistan Regional Government, on Friday, agreed with the Iraqi Foreign Minister that the region to participate in the Iraqi foreign delegations in international conferences and meetings.

"The Foreign Minister Mohammed Ali al-Hakim and the official of the department, Sven Dziaye, discussed the future plans of conferences, meetings, events and international activities and participated in them with unified delegations including both sides, contrary to what was going on with the unilateral participation of both sides in previous years," the department said in a statement. 

The statement pointed out that "in order to increase the level of relations between the Kurdistan Region and the federal government with the international community within the framework of the Iraqi constitution," stressing that "from now on, the Department of Foreign Relations with the Ministry of Foreign Affairs will participate in international conferences and meetings as a delegation".   LINK

*********************

Samson:  Kurdish deputy: the visit of officials of the region to Baghdad, the last chance to resolve the oil file

2019/8/23 10:13

Member of the House of Representatives for the Future Bloc opposition expected the visit of the delegation of the Kurdistan region to the federal government in Baghdad to discuss the region's share in the 2020 budget as "the last chance" to reach a final solution on the oil file.

In a statement received by the Euphrates News Agency, Sarkot Shamsuddin said that "the visit which is planned by a delegation of officials of the Kurdistan region to meet their counterparts in the federal government represents the last chance to reach a final solution between the parties in accordance with the law and the constitution, as one of the strategic and important files." On which the future and interest of Iraq depend." 

He promised "the policies of the Kurdistan Democratic Party in the management of the oil file in the region failed as this party mortgaged the natural resources there and exported oil abroad without handing it to the government, and such actions are rejected," stressing that "the visit of officials of the region to Baghdad must be to prove good faith During the next phase and delivery of oil through the competent company."

Shams al-Din threatened to "resort to the Federal Court to resolve this crisis between Baghdad and the region, and the liberation of the Kurdish people from the influence of the families of Barzani and Talabani, which is trying to manipulate its capabilities, which caused the deterioration of the economy in the region and the emergence of social, educational and health problems and the increasing migration of young people to other countries, encouraging the need Cooperate significantly with the federal government to improve the reality of the Iraqi economy in general." 

He advised "the officials of the region that the visit would be useless if the aim is to take pictures and meet the invitations of officials for the banquet without talking in particular about this oil file and its implications and future between the parties, while Baghdad should cooperate with the region in general and leave dealing with the two parties, and end the chaos there by preventing "Exporting oil by the Democratic Party abroad and forcing it to be marketed through the oil ministry in Baghdad.

A member of the opposition bloc hinted that "the new legislative chapter will discuss at the beginning of the 2020 budget and the oil file between the center and the region and the salaries of the employees of the region, which must be disbursed from Baghdad after the commitment of the other party to export oil through."    LINK

Samson:  Sovereign funds to manage the wealth of countries .. Who manages the wealth of Iraq ?!

23rd August, 2019
Sovereign wealth funds - created by state governments for macroeconomic purposes - maintain and manage wealth and assets in an orderly and sound manner and use several investment strategies to achieve the financial goal. 

The funds are sovereign wealth (or sovereign portfolios), and are entrusted with the management of those wealth, and contain fixed assets such as land, commercial real estate or stocks, bonds, direct ratios in these companies, and governments seek to preserve their wealth on the one hand, and increase returns on the other hand In other words, it is the investment arm of countries with surpluses. 

It is the best way for countries with current surpluses to save for any event, emergency or financial economic crisis in the future, and more than one fund must be established so that there is diversity and balance of investments, and be cautious, and managed by a professional elite to get results Required and not vice versa.

One of the reasons for the emergence of sovereign funds is the need of countries that have large savings and want to maintain these savings, and even seek to increase their profits, but are not invested in high-risk assets, as they are owned by the state and invest in traditional assets, as the savings of some countries are owned Of commodity wealth (especially oil and gas), as in China and Singapore, which have a large trade surplus. 

The history of the establishment of sovereign funds varies, but we can say that they began since the fifties of the last century, and then spread in several countries, contrary to what some believe that these funds are an exclusive phenomenon in the Gulf States, there are several countries around the world have similar funds, including Norway. 

• The objectives of the SWFs are:
  —Protecting the country's wealth and investing it properly. 
  —Protecting the national economy and the state budget from the risk of external crises that result from fluctuations in revenues and exports. 
  —The principle of justice, which is achieved through the distribution of wealth between generations by maximizing the savings that goes to future generations. 
  —Diversify state income and thus reduce dependence on non-renewable audio exports. 
  Increase in foreign exchange reserves.  The monetary authority helps to withdraw unwanted liquidity. 
  —Provide a tool for financing economic development programs. 
  —Achieve sustainable long-term growth in the Fund's holders.
  —Achieving political, economic and strategic objectives
  —Addressing the negative effects of financial flows resulting from natural wealth, this is known as the Dutch disease, which causes undesirable effects in the productive sectors, especially industrial as a result of oil discoveries that created a state of laziness and inaction in the job The Dutch people during the years 1900-1950 after the discovery of oil and gas in the north, they went to luxury and comfort, until they reached the stage of depletion of the natural resource of wells depleted by excessive and unproductive consumption.

Read full post here:  LINK

********************

Samson: Parliamentary Economy: Oil prices may fall to $ 40 a barrel

23rd August, 2019

A member of the Parliamentary Committee on Economy and Investment, Salem Tufayli, on Friday, that oil prices may fall below $ 40 a barrel, pointing out that there are many sources that can supplement the budget with funds if exploited properly.

Tufayli said in a statement to the information, that "Iraq has a great opportunity to diversify the sources of its budget without relying on oil only, especially with the presence of two great rivers can irrigate millions of acres of agricultural."

He added that "expectations and according to the current data, it refers to the decline in oil prices to less than 40 dollars per barrel during 2020, which may enter Iraq in a financial crisis unless it is remedied to diversify sources of financing the budget."

He explained that "many sectors, especially agriculture can provide the money needed by the country, and the border outlets and large areas of land can be used instead of oil to finance Iraq's budget for the coming years." He pointed out that "the border outlets are not managed properly, where there is a great power by the parties and influential parties."   LINK

Samson:  By 75 billion dollars .. Beijing is escalating the trade war against Washington

23rd August, 2019

China announced Friday that it will impose US $ 75 billion in tariffs on US imports from September 1 and December 15, in response to Washington's plans to increase tariffs as part of a raging trade war..

The new tariffs will range from 5 to 10 percent on 5,078 goods China imports from the United States, according to the State Customs Office of the State Council..

China also announced it would impose a 25 percent tariff on US cars and 5 percent on auto parts as of December 15.

China abolished tariffs on US cars and parts earlier this year as a goodwill gesture during trade talks.

LINK

*********************

Samson:  Trump orders US companies, including FedEx and Amazon, to look for alternatives to imports from China
23rd August, 2019

US president ordered, Donald Trump, the major US companies look 'immediately' for an alternative to China, and the trend towards investment in the United States

"He ordered our great American companies to immediately start looking for an alternative to China, including bringing your companies to their home country and making your products in the United States," Trump wrote on Twitter

"We don't need China, and frankly, we would be better without them   LINK

KTFA, X22 and More....Thursday Night 8-22-19

KTFA: 

DocK:  TURKMENISTAN MODEL
The pegged exchange rate of 14,250 manat per dollar resulted in an exchange rate of 2.85 new Turkmen manat to the dollar.

  A presidential decree issued August 27, 2008, announced the introduction of the redenominated manat on January 1, 2009.
..........................................
Watching for an OFFICIAL decree from Iraq. 
Tons of articles though.
Hopefully it's sooner (Sept.8 - Sept. 24) than later ( January 1)

*****************

Tivon:   Source: Iraq

BAGHDAD / The obelisk: A source in the Finance Committee of the parliamentary, on Tuesday, the date of receipt of the draft budget for the year 2020, while noting that the budget will bring a boom in the Iraqi economy.

The source told local media that “the Finance Committee agreed with the Ministry of Finance to receive the draft budget 2020 in September,” noting that “there will be a qualitative boom in the Iraqi economy through drastic changes in public expenditure and investment funds and services.”

The source, who preferred not to be named, said that “the 2020 budget will be strengthened by the final accounts and will include tables on internal and external indebtedness, taxes, customs, border crossings and returns of state property.” End Quote 

Tivon: This article should emphatically tell everyone that this is not going to Oct or Jan. They need a new International rate prior to opening the 2020 Budget. Which again is why Iraq said they will add purchasing power to Iraq during this current legislative term. That's is why the I.M.F. told Iraq more than a few times this month that they need to release the new rate. Western Union went so far as to even tell citizens to go to any International branch if they want to wire funds outside the country. Of course they jumped the gun but it implies where we are at.  

Iobey777:  YES!!  IMO   It HAS happened and they will tell us VERY Soon!!!

Popeye7:  IMO, the very reason why they were allowing for numerous articles about coins during the earlier part of this week... While many are trying to look good in the eyes of the public, and take credit for the increase in their currencies rate, those in the know understand what is coming... I too believe it will happen before the 3rd of Sept... As you stated in your post, so much positive activity that seems to be leaning in the direction of the release of Iraq's true value, or at least increased one... Good post... Thank you, and God bless..

*******************

7-fa:  It's how you see it

A blind boy sat on the steps of a building with a hat by his feet.  He had a sign which read: "I am blind. Please Help."  There were only a few coins in the hat.

When a man came walking by, he took a few coins from his pocket and dropped them into the hat.  Then he took the sign, turned it around, and wrote some words on the back.  He put the sign where it was, so that everyone who walked by would see the new words.

 Soon the hat began to fill up.  A lot more people were giving money to the blind boy. 

That afternoon the man who had changed the sign came to see how things were going.  The boy recognized his footsteps and asked, "Were you the one who changed my sign this morning?  What did you write?"

The man said, "I only wrote the truth. I said what you said but in a different way.  I wrote: 'Today is a beautiful day, but I cannot see it.'"

Both signs told people the same thing... that the boy was blind.  But the first sign simply said the boy was blind.  The second sign told people they were extremely fortunate that they were not blind.  Should we be surprised that the second sign was more effective?

Moral of the Story: 
Be thankful for what you have. 
Be creative.  Be innovative.  Think differently and positively.

When life gives you a reason to cry, show life that you have 100 reasons to smile.  Face your past without regret.  Handle your present with confidence.  Prepare for the future without fear.

Keep the faith and drop the fear... just remember God is Near!

Author Unknown

From Recaps Archives

Humor while we wait~ The Best Time For an RV

Midnight to 2 am est......The business day begins in Iraq

9 am est.........banks are open

12 noon est.....west coast banks are open

3 pm est.....Hawaii banks are open

5 pm est.....banks close

8 pm est.....west coast banks are closed

11 pm est....Hawaii banks close

Sunday 5 pm est....Forex updates

Monday......9 am est...make appt for Tuesday

Tuesday....All banks 'sync'

Wednesday......because they forgot to announce it on Tuesday

Thursday.....because its would be great to be in the bank and have money for the weekend

Friday.........Iraq likes Friday

Saturday.....because we have the day off and could still salvage the broke weekend

Anytime America or Iraq has a holiday on a Monday or Friday.......because Dr. Shabbibi always said he needs the banks closed for three days.

Anytime after the morning prayers and announcements in the Mosque in Iraq

After the lower denominations are  distributed.

Immediately after the rate change is posted on the CBI website

24-72 hours after the button is pushed

After President leaves the country......he can't be in country when it happens

As soon as the 'bad guys' are put in jail and the  'cabal' is dealt with

Anytime now since the 'good guys' took the money away from the cabal

After the Prosperity Packages are delivered

When the Black SUV's leave the gurus alone

Any day ending in y

When purple pigs fly.....

Originally posted by PatrickJane at TNT:

Did You Catch It, Recession Narrative, It’s Happening - Episode 1950a

X22 Report:  Published on Aug 22, 2019

https://youtu.be/7milIyF6UV4?t

Ammunition Used, Failed, Wait For It, Military Timing - Episode 1950b

X22 Report:  Published on Aug 22, 2019

https://youtu.be/mCSVBPE1nWk?t=1