Samson: Sulaymaniyah takes measures for banks before proceeding to pay employee salaries
28th March, 2020
Health authorities in the Sulaymaniyah governorate launched a campaign to sterilize banks, on Saturday, in preparation for distributing the salaries of employees.
A spokesman for the Sulaymaniyah Health Department, Yad Naqshbandi, told Shafaq News, “The Provincial Health Department will begin today to sterilize and purify the banks in Sulaymaniyah in preparation for the distribution of employee salaries.”
The Iraqi government, the first of Thursday, sent the sums for the salaries of the employees of the Kurdistan Region, and the director of the Iraqi Central Bank branch in Erbil, Abed Saleh, told Shafaq News that the Iraqi government had sent 453 billion dinars to the branch. LINK
MilitiaMan: To Note: “Sterilization is a form of monetary action in which a central bank seeks to limit the effect of inflows and outflows of capital on the money supply. Sterilization most frequently involves the purchase or sale of financial assets by a central bank, and is designed to offset the effect of foreign exchange intervention.” May 23, 2019
MilitiaMan: Now lets think about this.. Didn’t we just recently see they were talking about “DOLLAR BONDs” in respect to payments to citizens. Iraq issuing bonds that are denominated in dollars? Foreign issues backed by USD are used by many foreign countries like China does for an instance. BONDS are effectively liquid cash, the are traded on secondary markets.. They carry time / interest rate /exchange rate parameters.
So under the guise of the Corona pandemic and low oil prices, it appears they can now strategically and safely sterilize their money and asset supply chains with security and stability all under an imposed curfew, and with recent resurgent USA presence in Iraq bases with an order our Pentagon to go ahead with the planning to escalate if need be to any Iranian threat.. “” … lol imo ~ MM
“The report noted that during the Oval Office meeting on March 19, Trump did not make a decision on whether to authorize the new campaign in Iraq, but it allowed planning to continue, according to US officials.” LINK
MilitiaMan: Why is that important, it may not be. But, if there is a need from Iraq by us during a transitional phase, the USA will be and or is already prepared. Having a transition from corrupt influences within the GOI that are effectively having their money supply chain yanked, things can get awry quite quickly.. The USA openly has those that are against the new GOI and the demonstrators demands on notice. On the demands of the citizens, 1) being that they want the corrupt to pay for the crimes against humanity during the demonstrations in recent past, 2) they want purchasing power. Not to increase the supply of money. They want the opposite. Therefore this example is not what they are going to do. As it would be counter to the Central Bank Law. ~ MM
Saleh added, “There is a team working with the Ministerial Council to restructure state expenditures,” noting that “the issue of printing the currency is merely a personal opinion and a proposal that is not consistent with the Central Bank Law.” LINK
MilitiaMan: Then we see this one where they state it again. ~ MM
Parliamentary Finance: The government cannot exchange any dinars against Corona
Committee member Ahmed Hama said in a statement to “Information” that “Law 12/1 (Financial Management) does not give the government the authority to spend any dinars except for employee salaries,” noting that “the government cannot spend any money as an emergency payment in the face of Corona.” LINK
MilitiaMan: So they can’t spend any money for the Corona virus, as they haven’t imo raised the value of their currency yet. They haven’t showed the 2020 budget yet, why? Because they have to raise the value of the currency first. They are now backed into a corner. imo. Not only militarily, economically, neighborly (SA), but, now also by a pandemic. The Central Bank Law is in place to reduce the corruption. The only money allowed now since they have not raised the rate yet, is 1/12th of the last 2019 budget allocations. Thereby, putting the blame on the past and partially present GOI.
The 2019 Financial Management Law Amendment is needed to be activated to alleviate that. For what ever reason they have had in the past to not do it, has now been neutered, imo.. Try and tell the citizens we cannot help you with the Corona virus because we are not re instating our currency to international standards? More innocent lives lost because of your corruption and greed GOI? That will not be going over well.
In fact there may be proof that they are now be telling us, like Alak at the CBI has in recent past, that they are not going to devalue their currency. No, they are actually telling us they are going to increase the value by what they are doing at this point. The pressure is immense noted by the above and below. ~ MM
He explained that “Baghdad will have to implement massive austerity measures, raid its foreign currency reserves and try to borrow money to bypass this new crisis,” warning that “this could lead to a new wave of protests that may be greater than previous protests.” LINK
MilitiaMan: Now what is there that suggests they are working to re instate? They are openly telling us the negative side of things and with the consequences of them legal or not, thereby, not telling us the positive side of things, until now is very telling. It shows just how complex this process has been in getting data out that is educational with out point blank telling everyone what they are doing, they do so, in a hidden way if you will, imo. By telling us what harmful things they are not going to do, tells us the opposite would be more likely what they are or will do. They now are telling us since they cannot borrower money, they cannot print more money but they can go into the secondary market to get money? How is that when they are not on or in the secondary markets with the IQD yet..? ~ MM
Parliamentary Economy: Resorting to the central reserve will not affect the exchange rate of the dinar
– The Central Bank Law does not allow it to lend to the government, whether by printing currency or any other way, direct or indirect, and (read but, imo) it is entitled to deduct treasury transfers, if they are present in the secondary trading market, as it is one of the tools of monetary policy, if it deems it based on data Substantive objective serving the objectives of monetary policy. LINK
Note: “As a medium of exchange, it trades only within the nation of Iraq, which makes it a “soft currency”. Unlike “hard currencies”, like the US dollar or the euro, the Iraqi dinar is not used to settle claims on international markets. This can make the international Iraqi dinar exchange rate uncertain.”
MilitiaMan: The above suggests they now are ready to go into the secondary markets. And to do so they have to be a hard currency.. Not a soft one. Hard currencies are international currencies with an internationally acceptable exchange rate.. The ISX is under curfew? Why, when they can trade electronically or can they? I’ll bet the inter connectivity to the NSDAQ has something to do with it.. They are a secondary market platform, are they not? Starting to get clearer? I sure hope so!! It is sure is a beacon of light, imo.. ~ MM
“The secondary market, also called the aftermarket and follow on public offering is the financial market in which previously issued financial instruments such as stock, bonds, options, and futures are bought and sold.”
Don961: Trump declares the District of Columbia, which includes Washington, DC a disaster area
Arab and international 03/30/2020 00:18 264
Baghdad today – follow up
US President Donald Trump declared the District of Columbia, which includes Washington, DC, a disaster area, against the backdrop of the spread of the Coruna virus.
Trump had issued earlier today two decrees declaring Connecticut and Oregon two major disaster areas due to the outbreak of the Corona virus.
He also gave instructions to provide federal budget aid to all affected areas in the two states, according to two White House statements. LINK
7-FA: How the Poor Live
One day, the father of a very wealthy family took his son on a trip to the country with the firm purpose of showing his son how poor people live. They spent a couple of days and nights on the farm of what would be considered a very poor family. On their return from their trip, the father asked his son, “How was the trip?”
“It was great, Dad.”
“Did you see how poor people live?” the father asked.
“Oh yeah,” said the son.
“So, tell me, what did you learn from the trip?” asked the father.
The son answered, “I saw that we have one dog and they had four. We have a pool that reaches to the middle of our garden, and they have a creek that has no end. We have imported lanterns in our garden, and they have the stars at night. Our patio reaches to the front yard, and they have the whole horizon. We have a small piece of land to live on, and they have fields that go beyond our sight. We have servants who serve us, but they serve others. We buy our food, but they grow theirs. We have walls around our property to protect us; they have friends to protect them.”
The boy’s father was speechless.
Then his son added, “Thanks, Dad, for showing me how poor we are.”