“Need for a Exchange Rate Change” – Mon. PM KTFA Thoughts, News w/ MilitiaMan 4-11-22

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KTFA

Samson » April 11th, 2022

Al-Kazemi’s advisor decides the fate of “Iraqi politicians’ money” deposited in Lebanese banks

11th April, 2022

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, said that politicians who have deposits in Lebanese banks should “wipe their hands against the wall,” as he put it.  

In response to “the fate of the Iraqi politicians’ money deposited in Lebanese banks after the latter declared the state’s bankruptcy,” Saleh said: “The money deposited by some politicians in Lebanese banks will not return to their depositors (let them wipe their hands against the wall),” adding that “the money is in Lebanese banks.” She is gone and there is no hope of her coming back.”  

He continued, “They will not receive 10 fils from the Lebanese.”   LINK

National Security arrests an official in the tax department in Babylon red-handed

11th April, 2022

Today, Monday, the National Security Agency in Babil managed to arrest an official in the Tax Department in Babil red-handed

And the agency said in a statement received by the Iraqi News Agency (INA), that “the detachments of the National Security Agency in Babylon were able, with a tight ambush, to arrest the director of the Al-Arasat and Real Estate Department in the Tax Department red-handed

He added, “The arrest of the accused took place while he received a bribe of $40,000  LINK

A Security Expert warns of the consequences of delaying the formation of the Government .. “Isis is sending a message”

11th April, 2022

Security expert Jalil Khalaf confirmed, today, Monday, that the effect of delaying the formation of the government, and not gathering political parties at one table, opens the way for ISIS to threaten the security of cities.

The expert said, in a statement to the National News Center, that “ISIS is taking advantage of the political blockage in an attempt to send a message that it is still present, so we see small groups of it carrying out operations in Diyala, Anbar and Kirkuk, as happened during the past few days.”

He also indicated that the failure to form a strong government capable of addressing the security situation would allow ISIS to attack the military headquarters and exploit the circumstances to serve its interests, expressing his belief that there is a possibility that ISIS will plan for something greater if this political blockage continues.

The Popular Mobilization announced last Saturday that “a fighter in the 56th Brigade of the Popular Mobilization fell victim and two others were wounded in an ISIS attack, which left the village of Dakshman in the Al-Rashad district, southwest of Kirkuk.”  LINK

Integrity seizes cases of fraud and embezzlement in Diwaniyah

11th April, 2022

On Monday, the Federal Integrity Commission announced that it had carried out three seizures in the Real Estate Registration Directorate, the Oil Products Distribution Company, and the Prisoners Institution in Diwaniyah Governorate.

The Investigation Department of the Federal Integrity Commission indicated, in a statement received by Mawazine News, a copy of it, that the team of the Investigation and Judicial Control Division in the Commission’s Investigation Office in Diwaniyah was able to detect a case of fraud in the treatment of real estate in the province’s real estate registration directorate, with a value of (4,000,000,000). Billions of dinars, indicating that some employees of the Directorate tampered with the fee for the sale of the property.

In a second operation, the directorate pointed out that the team arrested two employees of the oil products distribution company red-handed, explaining that the two suspects embezzled (36,000) thousand liters of gas oil product during the process of transporting it from the Diwaniyah Depot in Karbala to the Karbala power stationWhich caused a waste of public money amounting to (27,000,000) million dinars.

The statement continued, that the team, in a third seizure, moved to the Rafidain Bank and the Prisoners Institution in Diwaniyah, and after investigation and scrutiny, it was able to seize a check that was disbursed to an employee of the Prisoners Institution, in contravention of the controls and instructions.

Three minutes of seizure of the executed operations were organized based on judicial notes, and they, along with the accused arrested in the second operation, were presented to the Diwaniyah Investigation Court judge who is specialized in integrity issues. Who decided to arrest them in accordance with the provisions of Article (315) of the Penal Code.   LINK

Iraq hosts the “Conference of Civilizations” with the participation of 9 countries

11th April, 2022

The Iraqi capital, Baghdad, is scheduled to host the fifth session of the Conference of Civilizations, with the participation of 9 countries.

A Foreign Ministry statement received by Shafaq News stated, “Foreign Minister Fouad Hussein received the Minister of Culture, Hassan Nazim, at the ministry building. During the meeting, they discussed the convening of the Conference of Civilizations on Iraqi soil for the year 2022 in its fifth session, as Iraq will chair the conference for this year, with the participation of each of the Iran, Greece, China, Egypt, Italy, India, Mexico, Peru and Bolivia.

The meeting also dealt, according to the statement, with discussions on the mechanisms of holding the conference and the formation of sub-committees to develop a plan of action, set a timetable, and announce the time of the conference, to be held this year.

The two ministers stressed the need to take advantage of this important global event to shed light on the civilization of Iraq and show the bright dimensions and highlight its position, taking advantage of the presence of many high-ranking personalities, and official invitations will also be sent to international organizations concerned with antiquities and civilization.  LINK

Newspaper: Using The Dollar As A Weapon Could Destabilize The Currency And Split The International Financial System

11th April, 2022

The Financial Times indicated that using the dollar as a weapon could destabilize the US currency and split the international financial system.

The newspaper pointed out that the sanctions that froze Russia’s foreign exchange reserves created an incentive for many countries to bypass the dollar.

By openly and in this way turning the dollar into a weapon, the United States and its allies risk provoking a retaliatory strike that could destabilize the American currency and divide the international financial system into competing blocs, potentially exacerbating the situation for all parties.

She noted that there is no global coalition condemning the Russian special operation in Ukraine, and that there is only a Western bloc.

And she considered that this may have important repercussions on the future of global trade, as it is known that the sanctions against Moscow were not supported by China, Brazil, South Africa and Mexico.

The newspaper concluded: “The death of the dollar has been predicted countless times in the past, but the US currency has continued to maintain its positions. But if there is a stable dollar decline in the coming years, sanctions against the Russian Central Bank may not be a brave and new way to pressure the opponent, but rather the moment when the dollar’s dominance begins to decline.”  LINK

Source: Dinar Recaps


MilitiaMan » April 11th, 2022

The exchange rate devaluation has been discussed many times. They did it for a reason and say so. The action was / is to be short lived. We can see that there is a need for an exchange rate change and quickly.

The street is being harmed and they are going into protest mode again. The are looking at helping the poor, the devaluation has had a profound effect on them. They are talking about the food law and to improve the ration card. (Which by the way is more support our study has been spot on that work is an has been ongoing all along regardless of holiday.)

There is a parliament in place along with a legal caretaker government to do day to day business. That day to day business includes actions pertaining to budgets. The 2022 budget has been in the news to be sped up and presented in short order, imo..

Lets think about the part about the helping of the citizens. They were hurt the most and may benefit largely with a ReInstatement of the IQD. 

As for liquidity for the street. Didn’t they spend $10s of millions of dollars in printing new currency in 2018? Yes, they did.  They were not three zero notes, imo. They were NSCNs and likely fils , as noted by the $54 million spent for currency issuance 08/31/2018 per the CBI.

WE also watched the video showing the were destroying 3 zero notes around that time frame. So, with that said, why destroy and then re issue 3 zero notes again. Well, since time has gone by, what is on the street may be worn, soiled, faded, etc… Okay, then do to delays that may need to be addressed in the short term of liquidity issues. Or could it be that they want to use what good currency left of the three zero notes they have on hand to help line the pockets of the poor?

They say they will monitor  the process closely.  Lets say they issue more three zero notes then, once completed, they RI to a previous era. The poor get a serious stimulus package for all the suffering they have had to endure.

The NSCN’s (New Small Currency Notes) also under scrutiny, can follow along with the new digital system that we are aware of to be implemented at the borders.. ? We shall see..

imo I have a hard time beleiving that at this stage 3 zero notes are for longevity.. JMTC imo !!! ~ MM

Head of the Supreme Judicial Council: The Iraqi constitution authorizes the “emergency government”

2022-04-09 07:51

Shafaq News/ The head of the Supreme Judicial Council, Faeq Zaidan, confirmed on Saturday that the Iraqi constitution permits the declaration of an “emergency government” despite the absence of an explicit text for that, noting that “the caretaker and emergency government” came within the context of the constitutional articles.

To those that doubted the study? :…: lol ~ MM

Clarification From The Central Bank Regarding The Exchange Of The Dollar And Money Laundering

3rd March, 2022

The Central Bank of Iraq issued a clarification on the dollar exchange rate and money laundering.

And the bank confirmed, in response to a previous parliamentary question, seen by “Earth News”, that “the Iraqi judiciary has taken the necessary measures regarding some forged invoices, which date back to previous dates.”

He added, “The exchange rate change came to remedy the gap between the real value of the national currency and its nominal value.”

It is worth noting that the decision to change the exchange rate is a national strategic decision that is not linked to interim conditions, and that the negative results that may have resulted from it, can be avoided by financial and governmental action to support vulnerable groups and improve the ration card and not retract this important decision.  With respect.  LINK

Parliamentary Investment: We will monitor the process of pumping currency into the market  LINK  

A legal expert reveals a surprise: The caretaker government can send the budget to Parliament   LINK

Deepwoodz » April 11th, 2022

MM said… ”Lets say they issue more three zero notes then, once completed, they RI to a pervious era. The poor get a serious stimulus package for all the suffering they have had to endure.”

What a great thought! Do you really think they care about the citizens that much? To actually line their pockets just prior to changing the rate? Wow…I really hope that is the case. Kadhimi seems to care but…wow. That really would be nice. Thanks MM, I would never have thought of it like that. Kudos  

MilitiaMan » April 11th, 2022

They say it is for the poor. We may recall that Sadr wants the poor to be taken care of. I don’t believe the money is for everyone, it is likely for the poorest which by the way are a large  segment of his voting base. Eid al Fitr is coming up soon and who knows the gesture may very well be timed accordingly. Most people have electronic payment abilities, the poor? Not likely so much. Lets see if the theory has legs to it.. ~ MM

I like the timing of this one Clare, thank you. International consultants and companies to help get it right with the oil file.. Imagine the timing of it now.. All good. imo ~ MM

Clare » April 11th, 2022

A Kurdish delegation meets in Baghdad over the oil file after the Federal Court’s decision

04/11/2022 01:15   Baghdad

Today, Monday, the Ministry of Oil announced that it will receive the first delegation representing the Kurdistan Regional Government to discuss the oil file, after the decision of the Federal Court. 

A statement by the ministry, received by (Baghdad today): “The first meeting between the Federal Oil Ministry and a high-ranking delegation representing the Kurdistan Regional Government will be held in Baghdad today, Monday, to discuss the executive measures after the Federal Court’s decision.”

The statement added, “The meeting also comes to discuss agreement on new and standard mechanisms for managing the oil industry file in the region, in a manner that achieves the highest benefit and financial returns in the service of the public interest, contributing to strengthening and supporting the national economy and the integration of the national oil industry.

And he continued, “The delegation of the regional government, which arrived in Baghdad, includes a number of officials in the government and the Ministry of Natural Resources, including three personalities with the rank of minister.”

It is noteworthy that the Ministry of Oil has formed specialized committees in this regard to prepare a road map to discuss and circulate all files related to the oil industry in the region.

Intensive specialized meetings and workshops were held with local and international experts, and the National Oil Company assigned specialized consultants to review all contracts concluded between the regional government and international companies.   LINK  

Source: Dinar Recaps

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