KTFA Members "News and Views" Wednesday PM 10-16-19
KTFA:
Samson: IMF expects significant growth for Iraq
16th October, 2019
The International Monetary Fund (IMF) raised the growth forecast for Iraq, while reducing it to Saudi Arabia, Iran, Qatar and Kuwait.
The IMF said in its new World Economic Outlook that growth in Iraq, the region's second-largest oil exporter after Saudi Arabia, is expected to pick up after its economy contracted by 0.6 percent last year.
The IMF lowered its growth forecast for Saudi Arabia and Iran, the two largest economies in the Middle East, on the back of US sanctions, regional tensions and falling oil prices. LINK
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ChrisC: I don't know what the end result of this is really going to be, I have given my opinion, but I wanted to alert everyone that last night the banks required over 200 BILLION to settle their books.
This amount is jumping massively nearly every night. I don't know how long it can go on before SOMETHING happens, nor do I know what that something will be for sure.
We know what it was last time and what effect that had, indications are this time it will be worse.
Rommy: What we do know is what happened in 2008, and we tax payers were used to bail them out without our permission. To forget about this and what has transpired since, IMO is a mistake.
MrHarfax: What are your thoughts on the big 4 using the Dinar RI as an instigator to help rectify a market place which no longer makes conventional sense?
ChrisC: I think, if the funds aren't stolen right away by the banks, and the money is allowed to gain some velocity, then it is the solution to the world's problems. I heard a quote the other day and it was to the effect, "the problem is not that there is not enough money in the world, but rather that only a select group has it". These kind of funds released at the lowest level, would snap back a wilted plant rather fast I believe. However, if the banks have a "bail in" as I have been warning about, everybody's smile is going to get wiped right off their face. I have offered two good videos to the admins that may help everyone understand the position we are actually in and hopefully they will put them out for everyone to learn from. It is a precarious position to be in for sure.
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Laf1954: A chart NOT to love! Just sharing, folks!
Don961: Sadr calls for a march of millions of crowds to Karbala and fixes cheers on 40th day
2019 - 10 - 15
The leader of the Sadrist movement Muqtada al-Sadr, on Tuesday, the Iraqis to march millions of crowds to the province of Karbala, while stressing the need to conclude with a shout: "Free Baghdad, free, corrupt, see his righteousness."
Sadr said in a statement, "Iraqis (walking) to the kiss of free revolutionaries will see the crowds million organized and the eye of God is the sponsors .. Walk the people of Iraq .. Walk the army of the Imam .. Walk O the father of corruption .. Walk in your shrouds lifting your Iraq ”.
Sadr called for "cheering for the day of forty in the capital of the reformation Husseini (Karbala) with one voice: No both America .. No both Israel .. No, no, corrupt."
He pointed to the "need to conclude the visit with a shout: Free Baghdad, free, corrupt briefed Libra," noting that "Karbala secretariat in your necks." LINK
Don961: referred to in Monday's UB2B ...
Iraqi Dinar revaluation postponed by Central Bank for 5 years says MP Noura al-Bajari
Oct 29, 2014, 11:54 pm
A member of the Parliamentary Economic and Investment Commission, MP Noura al-Bajari.
Baghdad (IraqiNews.com) A member of the Parliamentary Economic and Investment Commission, MP Noura al-Bajari, confirmed on Wednesday that the initiative to revalue and delete zeros from the Iraqi Dinar is ready for implementation by the Central Bank although it will be delayed by five years given the political and security situation of Iraq.
In an interview with IraqiNews.com al-Bajari said “The policy to delete zeros from the Iraqi currency is ready to be executed by the Central Bank, however, its implementation will be delayed by 5 years on the basis of the extreme security and political situation of the country.”
Al-Bajari said that the head of the Central Bank of Iraq had previously said that this policy from parliament was accepted and that the zeros will be deleted from the Iraqi currency in the next 5 years. link
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Samson: Documents .. 61 general managers are relieved of their post
2019/10/16 8:28
Documents issued by the Council of Ministers, relieved 61 general directors from their posts in the departments of the state.
The documents, which were signed by the Secretary General of the Council Hamid al-Ghazi, that "based on what was presented by the Committee of the Diwaniya Order No. (199) of 2019, and based on the powers vested in the Council of Ministers under the provisions of Article (8) of the Civil Service Law No. (29) for 1960. At its twenty-seventh regular session, the Council of Ministers decided to exempt those who are on the accompanying list from positions marked against each of them, which begin in sequence (1. Najm Abdul Owaid) and end in sequence (61. Haider Nasser Zahir).
She added, "The decision of exemption came to not approve their appointment as Director General, and the Deputy Director General of the Department or ACVA and senior staff to administer it temporarily pending the nomination of the alternate from the competent minister or the head of the entity not linked to the ministry, except the departments occupied by taxpayers in accordance with the decision of the Council of Ministers No. 71) Year 2011 LINK
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Samson: Beijing "resent" the US House resolution
2019/10/16 9:49
China on Wednesday expressed "strong dissatisfaction" after the US House of Representatives passed a bill aimed at defending civil liberties in Hong Kong. "We strongly deplore and strongly oppose the US House of Representatives' insistence on passing a so-called Human Rights and Democracy Act in Hong Kong," Foreign Ministry spokesman Geng Shuang said in a statement. "We call on the United States (...) to immediately stop interfering in Hong Kong and China's internal affairs."
The Chinese reaction came after the US House of Representatives passed a bill sought by pro-democracy demonstrators in Hong Kong, aimed at defending civil rights in the former semi-autonomous British colony. This text, which still needs to be passed in the Senate for ratification by President Donald Trump and takes effect, links Hong Kong's privileged economic situation in the United States to the human rights situation in the former British colony.
Under the draft, Hong Kong's special economic situation will be subject to an annual positive assessment by the US State Department of respect for civil rights by Hong Kong authorities. It also provides for sanctions against any official who undermines “fundamental freedoms” in this semi-autonomous region.
Three months ago, Hong Kong has been shaken by increasingly violent pro-democracy demonstrations, and protesters denounce Beijing's growing hegemony over Hong Kong affairs and police actions. Demonstrations began in June against a bill to hand over wanted people to central authorities in Beijing. The draft was abandoned in early September, but in the meantime protesters raised their demands. The city has special rights under a 1997 extradition agreement from Britain to China, including the right to free expression and an independent judiciary, but many see these rights threatened by pressure from Beijing. LINK
Samson: The Swiss National Bank informs the Central Bank of Iraq of the renewal of its banknote of 100 francs https://cbi.iq/news/view/1316
SteeleyJan: The following is all in my opinion....something was brought back to mind today when reading this....I don't post my opinion/thoughts much anymore BUT this thought occurred to me about this new Swiss note coming out....I could be way off but just some thoughts rolling around in this Southern Belle's head today.
When I saw the "Swiss" note, memory file #333 (LOL) came flying out and reminded me that they use to refer to them as "Swiss dinar" back in the day....doing some research on Wiki, I found this snippet:
History
The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 11 rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the US currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher than the official rate.
After the Gulf War in 1991, due to UN sanctions, the previously used Swiss printing method was no longer available so new, inferior quality, notes were produced.
The previously produced notes became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to sanctions placed on Iraq by the United States and the international community along with excessive government printing, the new dinar notes devalued quickly. By late 1995, US$1 was valued at 3,000 dinars at the black market.
Could it be that the CBI is using the new Swiss note as a "familiar" one that citizens will easily remember??? I know there are a lot of young people who may not remember or know about this but I am just throwing it out there....I find it very interesting they posted THIS note and yes, the timing of it all.
Great stuff happening folks, be glad and rejoice KONA for our Blessing draws nigh! Many thanks Frank, TINK, WS, DELTA and all teams, God bless you all. Looking forward to tonight's UB2B Frankie!
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Samson: China's central bank pumps $ 28 billion into financial system
16th October, 2019
China's central bank has decided to inject cash into the financial system, and has also decided to provide loans through its medium-term lending mechanism
The People's Bank of China said in a statement on Wednesday it had decided to inject 200 billion yuan ($ 28 billion) into the financial system through a liquidity mechanism
The bank said the one-year bond rate would remain unchanged at 3.3 percent
Some analysts believe that keeping borrowing costs on medium-term loans unchanged reflects the bank's desire to avoid easing monetary policy too much for fear of triggering a credit crunch
By 12:05 pm GMT, the yuan had fallen against the dollar by about 0.2 percent to 7.0991 yuan LI