KTFA (Frank26, Petra, Don961 & Samson)


Frank26: I’ve never seen what I’ve been seeing on the Iraqi stock exchange with their currency. The Iraqi dinar is climbing to new records.  I’ve never seen anything like this before…the ‘exchange rate’ that’s the key to turning over everything.  The monetary reform. The economic reforms. Everything…Kazemi is going to announce a new exchange rate.  That’s the key to be announced to the citizens. It has to work with them.

Petra: They were targeting the 15th for him [current CBI governor Allaq to leave]. Obviously there has been a delay or two.  IMO it could be that he needs to get money positioned around the world so appropriate things can happen – they can make the rate change…currency has to be moving to change value.

Samson:  “Historic day” … Europe passes post-Corona economic recovery plan

21st July, 2020

At the conclusion of a marathon summit that lasted 4 days and 4 nights in Brussels, the 27 leaders of the 27 European Union countries reached an agreement on a historical plan for the economic advancement of the post-Covid 19-pandemic period, according to what was announced by the President of the European Council, Charles Michel, It is an achievement that the French president described as “historic.”

Michel wrote in a tweet on Twitter: “Agreement!”, Announcing the end of the fierce battle that took place between “economic” countries on the one hand, and France and Germany on the other hand, on this plan, which amounts to 750 billion euros.

For his part, the French President, Emmanuel Macron, welcomed the agreement, declaring in a tweet that it is a “historic day for Europe”.

With these three words, the French President, in a tweet on Twitter, expressed his joy at the end of the fierce battle that took place in Brussels between his country and Germany on the one hand and the “economic” countries on the other hand, which culminated in the approval of this 750 billion euro plan, which will be funded for the first time in The date of the conglomerate with a collective loan, to which is added a long-term budget of the European Union (2021-2027), at a value of 1074 billion euros.

The concessions, he went on, were proportional and necessary to develop a recovery plan large enough to be effective. “There is no perfect world, but we have made progress,” he said in a press briefing.

For her part, German Chancellor Angela Merkel stated that the agreement reached by the European Union on a huge fund to recover from the effects of the Corona virus pandemic shows that the bloc countries are able to work together even during their biggest crises, as well as their willingness to open new paths in unusual circumstances.

Merkel said at a joint press conference with President Macron: “This is an important signal that goes beyond the borders of the European Union, which is that with all the different backgrounds (of the members of the bloc), he is able to move and act.” “The results of the European Union summit not only reflect a common approach to financial rules, but also to the rule of law,” the German chancellor added.

For the first time in the history of the bloc, the plan will be financed by a collective loan, to which will be added a long-term budget of the European Union (2021-2027) worth 1074 billion euros. “The results of the summit are truly historic,” Macron said. He added that the agreement came after long and arduous negotiations during which concessions had to be made to persuade the countries that were impeding the agreement to accept it.   LINK


Don961:  Iraqi lawmaker: The collapse of the Tuman and the fear of losing billions of dollars is a nice impulse to visit Baghdad

Policy 20/20/2020 21:18 1953    Baghdad today – Baghdad

Member of the Saaroon Bloc MP Riyadh Al-Masoudi confirmed that the collapse of the Iranian Toman exchange rate against the dollar as well as other decisions recently taken by Iraq sounded the alarm in Iran and prompted its foreign minister to visit Iraq.

 Al-Masoudi said in a televised interview followed by (Baghdad Today) that “Iran has unconventional relations with Iraq and it needs high-level economic activity with Iraq.

The volume of the exchange is close to 12 billion dollars annually and constitutes 25% of the volume of Iranian exports and Tehran does not want to lose the market.” Iraq is afraid of entering countries to fill the void that may be caused by the decline in their exports. ”

He added, “One of the reasons for the visit of the Iranian Foreign Minister, Mohammad Javad Zarif, to Iraq is that the Iranian Tuman has witnessed a sharp decline in recent days, the closure of ports with Iran, and Al-Kazemi’s lightning visits to the border points. The alarm rang the possibility that the matter will affect the flow of Iranian goods.”

He added that “Iran fears that its economic interests in Iraq will be affected, including the files of exporting gas and electricity. Therefore, Zarif came to obtain guarantees and reassurances from the Iraqi government and his visit to the region is focused in this direction also because Iran fears the loss of billions of dollars that enter it as a result of the export of gas and electricity.”

Regarding what is being discussed about the possibility of Iraq leading mediations with regional countries, Al-Masoudi stressed that Iraq will not be a mediator between Iran and Saudi Arabia or between America and Iran because he does not want to do so, these countries have direct communication channels and the US President Donald Trump previously stated that he does not need a mediator To arrange relations with Iran. ”

He pointed out that“ the alliance of the Saeron does not support Iraq being a postman and an intermediary with any of the countries.

He stressed that “Iraq seeks to obtain economic concessions from friendly countries, especially in the issues of energy and the economic crisis, and if those countries wish to do so, the channels of dialogue are open with them.”

He pointed out that “there are 4 countries that directly affect the Iraqi file, which are Iran, Saudi Arabia, Turkey and the United States, and everyone seeks to ensure its interests. Al-Kazimi should invest the circumstance and arrange Iraqi policy papers to ensure that the country gains gains and is not a party to any conflict.”

He pointed out that the Corona pandemic, low oil prices and reducing Iraqi exports to over one million barrels embarrassed Iraq in its commercial relations with neighboring countries such as Turkey, Iran and the United States. Al-Kazemi should invest the need of Iran and other countries neighboring the Iraqi market to strengthen relations, obtain investments and create a balance in trade exchange. .

Zarif visited Iraq yesterday and stressed during a joint press conference with his Iraqi counterpart Fuad Hussein the strength of the relationship with his country and its endeavor to activate a number of joint agreements.

He pointed out that “the economic relations between the two countries can develop in the interest of the two countries,” noting that “Iran will follow the files of navigation, water borders and the link between the railways between the two countries.”

The Iranian Foreign Minister met the Presidents of the Republic, Barham Salih, the ministers Mustafa Al-Kazemi, and the deputies, Muhammad Al-Halbousi.

Al-Kazemi stressed during his meeting with Zarif, “the importance of bilateral relations between Iraq and Iran and their development and development in various fields, in the interests of the Iraqi and Iranian peoples, as well as joint work to support the security and stability of the region.”LINK

Samson:  Iranian Official: Close Agreement Reached On Foreign Currency Between Iran And Iraq

21st July, 2020

Director of International Affairs of the Iranian Central Bank, Hamid Kanbari, announced that it is close to reaching an agreement regarding foreign currency between Iran and Iraq.

The official, who accompanied Iranian Foreign Minister Mohammad Javad Zarif on his visit to Baghdad last Sunday with the aim of conducting banking negotiations with the Iraqi side, said that the discussions were useful and constructive between the two sides, and the final stage of the Iraqi Prime Minister and his accompanying delegation will arrive in Tehran today, Tuesday.

He added that in the event that it is achieved, it is expected that a significant foreign exchange will flow to the (local) market, amounting to several billion, which will contribute to covering a large part of the demand for foreign currency.

The Central Bank of Iran and its Iraqi counterpart signed a memorandum of cooperation related to banking and financial ties last year, between Qanbari, that the negotiations of the day before yesterday come as an extension of the memorandum concluded, and that the visit of the Iranian Central Bank Governor Abdel Nasser Hemati to Iraq last month comes in the same framework.



Samson:  Gold hits new high in 9 years, silver crosses $ 20 barrier

19:32 – 21/07/2020

Gold prices jumped more than 1 percent, today, Tuesday, its highest level in nearly 9 years, supported by the decline in the dollar and expectations of stimulus measures to revive the economies that suffer from “Covid-19”.

Silver has also crossed the $ 20 barrier for the first time since July 2016.

By 14.55 GMT, the price of gold in spot transactions was 1.1 percent higher at $ 1835.30 an ounce after earlier touching its highest level since September 2011 at $ 1841.01.

Analysts said that gold derives strength from the decline in the US dollar despite improved market sentiment.

The dollar index fell 0.47 percent against a basket of major currencies, its lowest level in more than 4 months.

Among other precious metals, silver jumped 5.6 percent to $ 21.02 an ounce, its highest level since July 20, 2016.   LINK