“Other Intentions?” – Tues. PM KTFA Thoughts, News w/ MilitiaMan 3-8-22

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Samson » March 8th, 2022

Brent Crude Reaches $128 A Barrel

8th March, 2022

The price of Brent crude rose more than 4 dollars, today, to reach 127.86 dollars per barrel.

At the same time, US crude futures rose more than $3, and the price reached $122.79 a barrel, according to “Reuters”.

Analysts expected that oil prices will continue to rise more than they are now this week due to the delay in concluding the Iranian nuclear talks and thus the possibility of Iranian crude oil returning to the already turbulent global markets.

Amrita Sen, co-founder of the Energy Aspects Research Institute, said, “Iran was the only factor supporting the price drop that is hanging over the market, but if the Iranian agreement is delayed now, we may consume stocks more quickly,” according to “Reuters”.

Russia: Oil prices may reach $300 a barrel

7th March, 2022

Russian Deputy Prime Minister Alexandernovak said on Monday that oil prices could jump above $300 a barrel, if the United States and Europe ban crude imports from Russia.  

“It is absolutely clear that the rejection of Russian oil will lead to catastrophic consequences for the global market,” Novak said in a video statement broadcast by Russian television.    

He continued, “The jump in prices will be unpredictable. It (the price) will reach $300 a barrel, if not more.”    LINK

MilitiaMan » March 8th, 2022

Banning just began today.. ~ MM

“The exodus continues as President Joe Biden announced a ban on the U.S. import of Russian energy, saying the U.S. is “targeting the main artery of Russia’s economy.””

https://www.yahoo.com/news/ukraine-skeptical-russian-plans-allow-082034771.html

Samson » March 8th, 2022

The Federal Court summons the Minister of Finance and the Governor of the Central Bank

8th March, 2022

Local media reported, on Tuesday, that the Federal Court decided to summon the Minister of Finance and the Governor of the Central Bank, to appear before it in the next session, against the background of a lawsuit to raise the exchange rate of the dollar.

The Federal Court had held its session regarding the “32 federal” lawsuit regarding raising the exchange rate and establishing the Sovereign Wealth Fund.

The court decided to postpone the hearing to March 14, in a special session in which the Minister of Finance and the Governor of the Central Bank will attend, according to local media.   LINK

The Federal Court postpones hearing the lawsuit to restore the dollar exchange rate to its predecessor until next Monday

8th March, 2022

The Federal Supreme Court decided to adjourn the hearing of the case No. (32/Federal/2022) regarding the re-exchange of the US dollar in relation to the Iraqi dinar to its previous amount of (120) thousand dinars per 100 US dollars until 3/14/2022.

The reporter explained that “the court decided to postpone for the purpose of Inform the Minister of Finance and the Governor of the Central Bank of Iraq to attend the next session.  LINK

A session of the Federal Court regarding the lawsuit against the dollar exchange rate and the Sovereign Wealth Fund

8th March, 202

On Tuesday, the Federal Supreme Court held its session related to the “32 Federal” case regarding raising the exchange rate and establishing the Sovereign Wealth Fund.  

The court said in a brief statement that “Nass” received a copy of it (March 8, 2022), that it “has held its session regarding the (32 federal) lawsuit related to raising the exchange rate and establishing the sovereign wealth fund.”     LINK

A Deputy commends the reform paper submitted by the Minister of Finance and calls for its implementation

8th March, 2022

Today, Tuesday, Representative Alia Nassif stressed the need to ration resources in a way that prevents wasting them on thieves and the corrupt, while she welcomed the proposal to “support the poor, the weak and the vulnerable groups” presented by the Minister of Finance.

Nassif said in a statement received by the National News Center that “presenting this reform paper expresses a sense of responsibility towards our people, especially the fragile class, families without breadwinners, families of martyrs and wounded, today there are unfortunately thousands of families who do not find their daily strength.”

She pointed to “the necessity of rationing resources in a way that prevents wasting them on thieves and the corrupt, which will reflect positively on the income of the poor and provide food security and social security.”

Nassif called on the executive and legislative authorities to “direct implementation of the reform paper and not to make it a formal paper like its predecessors, while keeping it away from consuming political bidding.” LINK

MilitiaMan » March 8th, 2022

The interesting issue is they postpone the court until next Monday to hear the case of the Dollar Exchange rate and a Sovereign Wealth Fund.

The other interesting thing imo is they are suggesting that the case is to restore the Dinar back to 120,000 / 100 USD from it’s present 1460. Just barely back to where it was 12/19/2020, a 22-23% move..

Was that there goal to inflict pain and suffering from the devaluation on to the citizens and with the harshest effect to be on the poor? If so they did a good job of it.

Could there be more to the story that will unfold between now and the meeting on 03/14/2022. We know there were other reasons too, debt payments to kuwait, etc..

That raising of the exchange rate is nothing new, a reversion will be. The problem I see with the reversion back to 120,000 / 100USD is that it really doesn’t help they poor. The were per before the devaluation and still are and even more so.

Going from poor to poorer and back again to poor is a double slap in the face, imo. I am fairly sure the citizens will feel it too, on both sides. That will not be the purchase power they were promised prior to the devaluation nor the promises of late. 

Lets think about it though. They need the court to sort the exchange rate change out and then talk about the Sovereign Wealth Fund (SWF)?

Are we to believe since they didn’t have SWF before at 1,190 that one will be feasible with a reversion to only 1190 again?

Or could it be that they have other intentions, as in the project to delete the zeros. If so, then there would be the wealth from a real valuation of the countries assets that takes into consideration the automated taxes tariffs, customs, fees, liquid natural gas production, Sulphur, gold, reserves domestic and foreign, agriculture, tourism, etc.? Not far from now we will know the answers.

I do like the fact that they want the direct implementation of the reform paper to be direct and keeping it from the consuming political bidding powers. In other, words the politicians need to keep their hands off. It is to be for the good of the people.. imo ~ MM 

https://www.investopedia.com/terms/s/sovereign_wealth_fund.asp

Source: Dinar Recaps


Samson » March 8th, 2022

The arrest of employees of the Retirement Department in Mosul on charges of “bargaining and manipulation”

8th March, 2022

A security source in Nineveh Governorate reported on Tuesday that a security force had arrested employees of the retirement department in the city of Mosul on various charges.

The source told Shafaq News Agency, that a security force arrested today 5 employees of the retirement department in Mosul on various charges, including bargaining with retirees and tampering with their files to obtain sums of money in order to complete their transactions.

According to the source, there are other employees against whom arrest warrants were issued, but they were not in the department at the time the arrest warrant was executed against them.   LINK

The noise of prices..a wave of arrests affecting dozens of those involved in greed

8th March, 2022

Today, Tuesday, the Security Media Cell announced the arrest of 31 people, who raised food prices, in several governorates.   

The cell said in a statement that “Nass” received a copy of it (March 8, 2022), that “after the failed attempt by some weak-minded people to raise food prices in markets and stores, and with the aim of standing by the Federal Intelligence and Investigations Agency in the Ministry of Interior, with the aim of standing by the Federal Intelligence and Investigations Agency in the Ministry of Interior, The agency’s detachments embarked on a major campaign during the past two days in various governorates of the country.   

She added, “The agency has mobilized its efforts to eliminate these cases, and was able to arrest 31 violators of those who raised food prices and exploited citizens.”    

And she added, “The intelligence agency warns anyone who tries to tamper with the security of the economy and will not allow any violation of the law, and it will strike an iron fist during this intense campaign.”     LINK

Moscow intends to pay off the debts of “unfriendly” countries in Russian rubles

8th March, 2022

The Russian government announced its intention to pay off the debts of “unfriendly countries” in the Russian local currency.   

Al-Arabiya published a list of countries declared unfriendly by Russia, which came as follows: “The United States, European Union countries, the United Kingdom, Canada, Montenegro, Switzerland, Albania, Andorra, Iceland, and Liechtenstein.”  The list also included: “Monaco, Norway, San Marino, Macedonia, Japan, South Korea, Australia, Micronesia, New Zealand, Singapore, Taiwan.” ?    

Al-Arabiya stated that Russia included in the list the countries and territories that imposed or joined the sanctions against Moscow, against the backdrop of the Ukrainian war, noting that Russian companies will be able to repay their debts in the local currency, the ruble.    

On Monday, the White House issued a statement, saying that the United States, France, Germany and Britain intended to incur a heavy cost to Russia for the invasion of Ukraine.   

In the same context, an official in the administration of US President Joe Biden said that Washington has not yet decided its decision on imposing an embargo on Russian oil imports, according to “Fox News”.   The leaders of the United States, Germany, France and Britain again called on Russia to immediately withdraw its forces from Ukraine.    LINK

Source: Dinar Recaps

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