Purifiers: MONDAY CC 5/4/2020 CONFERENCE CALL PLAYBACK
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Iobey777: Thank you, DELTA, MM and AG-1 for the wonderful report tonight on this article (see below) and it’s GREAT IMPORTANCE!! All the “bigwigs” were there to get an conclusion to their economic situation and to find the FIX for it .. immediately! IMO! Time for us to see the outcome of this meeting and praying it will be in the next few days!!
Don961: The Minister of Finance and the Governor of the Central Bank stress the need to expedite the framing of immediate solutions to remedy the financial situation
Politics 04/2020 22:48 337
Baghdad Today _ Baghdad ,
Minister of Finance, Fouad Hussein, stressed on Monday the need to expedite framing of immediate solutions to remedy the financial situation.
The media office of the Minister of Finance said in a statement, “Fouad Hussein, the Deputy Prime Minister for Economic Affairs and the Minister of Finance, today, May 4, presided over an expanded supplementary meeting in the presence of Ali Al-Alaq, Governor of the Central Bank, Undersecretary of the Ministry of Planning, directors of Rafidain and Rashid Banks and the Iraqi Bank of Trade. The meeting was also attended by general managers of departments Budget, taxes, customs, retirement and public debt in order to complete government efforts in examining mechanisms to improve the economic and financial situation in order to secure the needs of the country, especially in advance of the preparation for the May allocations in light of the continuing low prices of Aft. ”
The Minister of Finance, and the Governor of the Central Bank, stressed the “need to overcome all obstacles and expedite the framing of immediate solutions to remedy the financial situation in the country, as the meeting reached the possibility of walking and advancing through internal solutions at the present time, provided that the government will consider other options in the coming months.”
BuckeyeTree: We are nearing the accomplishment of the first phase of this journey. The next phase will be what we each do next. As once stated, there is no turning back for Iraq, no more kicking the can down the road as they have backed themselves into a corner with only one real option.
Crucial meeting took place today with the CBI, and a crucial vote for Prime Minister this week. ISIS is trying to make a come back, and the country needs a strong leader who is pro-Iraq who will serve the citizens and who would also be an ally to America.
Eddie ( Frank’s Iraq contact) a while ago said his banker first thought maybe April and then revised that to May as to when the CBI / GOI would release a new rate and RI the currency. Many thought and hoped myself included that the special event of the RI would take place sooner. In the end, Eddie’s banker may have been correct. We may soon find out.
As Frank had stated, the RI will be a stimulus for the world and for the USA. It will be much needed all around but especially for Iraq’s citizens. I am praying that Kazemi will receive support as he appears to be the right man for leadership at the right time.
Many thanks for the several insights and perspectives on the financial and political news out of Iraq by Angel 1, MM, and Delta…….Thanks to Frank for allowing his Team to share with us this evening and so very well. Praying that Frank’s doctor will have healing hands on the day of his surgery.
Don961: Al-Kazemi invests his skills and succeeds in negotiation .. And a certain tomorrow will officially become Prime Minister of Iraq
Policy , 05/05/2020 01:27
Baghdad – Iraq today:
Tomorrow Tuesday, and at such a night time, Mustafa Al-Kazemi will officially become Prime Minister of Iraq despite the controversy that has been raised about it, as it will be confirmed tomorrow, and it will become a reality that everything that was said about him was nothing but a whirlwind in a cup and a speech for media consumption .. The information that reached one The sources confirm the following:
1. Washington, Tehran, and the Gulf are all completely in agreement with Al-Kazemi, and both allies are instructed to pass the government.
2. Al-Fateh and others agreed to pass the government, and they presented Al-Kazemi with a unified notes paper about the candidates, and most of those contested were changed, but Al-Kazimi remained attached to some of his candidates).
3. The cabinet will not be voted on in full, but rather on two thirds of it, as there are still issues for 4-5 ministries, and voting will be postponed, which is ineffective.
4. The Nouri Al-Maliki and Iyad Allawi blocs are opponents, and they will boycott the confirmed voting session to be held tomorrow evening, Tuesday.
5. The reference is not against Al-Kazemi, but rather with advancing the political process of its natural course in order to avoid the aggravation of the country’s crisis, especially in light of the challenges facing Iraq.
6. The squares were contained by Al-Kazemi, and he currently has a coordination committee with them, hears their demands and will work to frame them and implement what can be implemented.
In short, the Al-Kazemi government will be passed in only 24 hours, and Al-Kazemi has succeeded in investing his dialogue skills and his relationship to contain the suspicions of the protesters and settle their concerns. LINK
Don961: Al-Halbousi expects to hold the voting session for Al-Kazemi’s booth within 48 hours
Monday 04, May 2020 23:03
Baghdad / Nina / Parliament Speaker Muhammad Al-Halbousi expects to hold a voting session on the cabinet of Designated Prime Minister Mustafa Al-Kazemi within 48 hours. / End 3 LINK
OmniQuest: FOREIGN EXCHANGE RATES AND THE FOREX MARKET
IMO… There is quite a difference between a Foreign Exchange Rate and the FOREX Market.
The Foreign Exchange Rate is the rate at which one currency can be exchanged at for another currency.
A Foreign Exchange Transaction involves having possession of one currency and exchanging it for another.
The transaction itself will take into account the differences between the individual Exchange Rates of the currencies being exchanged.
Virtually all currencies have an Exchange Rate at which they can be exchanged with other currencies. Such exchanges usually occur at Currency Exchange venues such as Travelex, or at airports, or at bank branches
that conduct currency exchanges for their customers.
The FOREX Market is a totally different animal and a specialized activity all on its own.
The FOREX Market is similar to the stock, options, and commodity markets, where one can buy or sell a currency and profit from its rise or fall in comparison to another currency.
This activity is called “trading” currencies rather than “exchanging” currencies, and in order to trade currencies one must have an account established at a FOREX Market Brokerage.
The FOREX Market Brokerage then supplies the trader with a software trading platform so the trader can execute trades through the FOREX Market Brokerage itself.
Currencies are traded in “pairs” with the abbreviated symbol of one currency on the left side (called the base currency) and the abbreviated symbol for the other currency on the right side (called the quoted currency).
There is a strict naming convention for the pairs that are being traded, such as with the EUR/USD (which is the Euro Dollar against the US Dollar) and this pre-set naming convention must be followed in order to trade the right pair, etc.
And what is interesting though is that even though a particular currency may have an established exchange rate, that doesn’t mean that it is traded with other currencies in the FOREX Market.
Some FOREX Brokerages do show exchange rates for different currencies, and even different pairings, as if they could be traded in the FOREX Market. But even so, that doesn’t mean that a specific pair can be traded through that particular FOREX Brokerage.
As an example, the symbol for the Iraqi Dinar is IQD and the symbol for the US Dollar is USD.
If you visit forexlive.com/livecharts and overwrite the symbol in the upper left box with IQD you will see IQD is highlighted in Blue, and if you then scroll down to IQDUSD and click on the link, you will then see its recent price history as well as its current price value.
But done in reverse, if you overwrite the symbol in the upper left box with USD you will see USD is highlighted in Blue, and if you then scroll down you will see there is no paring with the IQD when placing the USD on the left.
So the correct naming convention for the Iraqi Dinar and the US Dollar pair is IQDUSD.
But for the moment, and until there is further determination for and in the FOREX Marketplace, there are really no retail FOREX Market Brokerages where the IQDUSD can be traded by anyone.
Hopefully that will be changing soon!
Exchanging foreign currencies does not require any skill, one only has to possess a currency to exchange to be able to profit from the exchange.
Trading foreign currencies is an entirely different matter, it is a learned skill that requires education and experience, along with a few other things as well.
Hopefully this helps clear up some of the confusions that have surfaced in chat room posts recently.