Tuesday, February 18, 2020

WOTS FEB 18th 2020

WOTS FEB 18th 2020

The Markets:
Asian markets closed mixed
Nik was down about 1% HSI down about 1.5% and shanghai closed up minimally

all our markets are due to start negative
dow about 1/2 %  sp about half a % ndx over .5 %
Russell2000 too down


Precious Metals:

Gold is up back over 1580 at 1586.83  Silver up bit still under 18  at 17.85     Copper down to 260.55  and platinum is up to $977

Forex Rates:


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1166.4000  1221.8000 1192.9000 1192.9000 1192.9000  0.9000 06:13
 USD/VND  22879.0000  23618.2300 23222.2100 23208.1000 23208.1000  16.3400 06:13
 USD/CNY  7.0014  7.0034 7.0057 6.9796 6.9796  0.0223 06:21
 USD/KWD  0.3049  0.3059 0.3053 0.3047 0.3049  0.0004 06:20
 GBP/USD  1.3037  1.3037 1.3048 1.2971 1.3002  0.0035 06:36
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  97.5000 06:03
 USD/IDR  13708.0000  13712.0000 13716.0000 13649.0000 13656.0000  54.0000 06:33

Things in the News... 
CoronaVirus or Covid-19 Headlines

other news 

 Iraqi Articles: 

The meeting of Allawi and the leaders of the blocs ended without announcing the results

According to the Iraqi News Agency, the cabinet formation of Allawi's government is expected to be presented at the end of this week or early next week.
This came after the end of a meeting between Prime Minister-designate Muhammad Tawfiq Allawi with leaders of political blocs Monday evening.
The official agency stated that Prime Minister-designate Muhammad Tawfiq Allawi held an expanded meeting with the leaders of the political blocs in the context of his discussions to complete his ministerial buildings and submit them to the House of Representatives for voting, but from the reference to the results of the meeting.
It is assumed that Allawi, who was named Prime Minister after a difficult consensus reached by the political blocs, will present his formation to Parliament before the second of next March to vote on it, according to the constitution.
However, Allawi revealed recently that he is working to present his ministry this week
What Allawi discussed with the political blocs during their meeting yesterday evening

A political source revealed, on Tuesday, what Prime Minister-designate Muhammad Allawi discussed with the political blocs during their meeting yesterday evening, while he indicated that Allawi made pledges to calm the demonstrations.

The source said that "Prime Minister-designate Muhammad Allawi requested during his meeting with the political blocs yesterday evening, unconditional support for his government, including giving him the freedom to choose members of his government," noting that he "received the support of several political blocs."
 
 
 
He added that "Allawi pledged to work on holding early elections, and focusing on a service program that is in favor of calming the demonstrations," noting that he "warned of the government's failure means the failure of the Iraqi political system after 2003 in full, and will be a door for more external interference in Iraq."
 
It is noteworthy that the Prime Minister-designate Muhammad Tawfiq Allawi held yesterday evening, Monday, a meeting with leaders of political blocs to discuss the issue of forming a government

A protest stand for cleaning up on the reform to demand their back pay     this is just a headline  it's a video all in Arabic


His cabinet, Allawi, will be presented to Parliament during the coming period  
The Independent ... An informed political source revealed that Prime Minister-designate Muhammad Tawfiq Allawi will present his cabinet in five days.
The source said in a press statement, which was followed by the independent, that "Mohammed Tawfiq Allawi, held yesterday evening, an expanded meeting with the leaders of the political blocs to complete his ministerial buildings before the end of the constitutional deadline on the second of March next."
He explained that "Allawi will present his cabinet in the next five days," noting that "Allawi has already completed his cabinet and sent the names to the Accountability and Justice Commission and then presented it to Parliament for a vote."

 Allawi sends an envelope with the names of the ministers for reference, and he replied, without opening it
An Arab newspaper revealed, on Tuesday, that Prime Minister-designate Muhammad Tawfiq Allawi sent the names of his government ministers to the cleric's deputy, Mr. Ahmed Al-Safi, noting that Al-Safi replied to the envelope containing the names without opening it.
The Lebanese newspaper "Al-Akhbar" said in a report that "Allawi sent, in the past two days," an envelope "to the legal guardian of the Abbasid threshold, Ahmed al-Safi, containing the names of the candidates for the 22 bags. The envelope returned to Alawi without "opening it", which was considered an indication that Najaf is "not concerned" with this matter, and that it does not interfere in these details. "
The newspaper added, "The reference silence regarding the authorship mechanism is described by many as" suspicious ", unlike the" hidden role "that it played during the formation of Adel Abdul Mahdi, his government.
The newspaper pointed out in its report that "the coming hours will reveal the mechanism of distributing bags and names nominated for their distribution, to resolve the positions of the blocs and the fate of Abdul Mahdi and Alawi alike."
 
The Central Bank determines the percentage of fees to be paid to banks and financial institutions
The Central Bank of Iraq, on Tuesday, directed banks and financial institutions to commit to meeting the commissions prescribed by its transactions.
The bank said in a statement received by "Eye of Iraq News", that "all banks and financial institutions have an obligation to fulfill the commissions previously determined by their transactions, which are as follows:
1- Purchase commission through points of sale: free of charge.
2- Cash withdrawal commission through points of sale (0.006 of the amount) a minimum (2,000 Iraqi dinars), or 6,000 dinars per 1 million Iraqi dinars, and if the amount of 333,000 dinars is withdrawn or less, then the lowest commission applies and amounts to (2,000 Iraqi dinars).
3- Cash withdrawal commission through the ATM: (0.004 of the withdrawn amount) The lowest commission (1,000 Iraqi dinars), i.e. 4,000 Iraqi dinars per 1 million dinars, and in the event of withdrawing an amount of 250,000 Iraqi dinars or less applied The lowest commission is (1,000 Iraqi dinars)

BANKS/BANKING/CREDIT

How to understand and improve your credit score in under 30 minutes
There are a lot of myths surrounding credit scores and many people don't know their FICO score. In under 30 minutes you can understand how to build a stronger personal credit profile.

Read in CNBC: https://apple.news/Aj3BAB2ueSxu-hdyIkWhhIQ


Monetary Policy Dominated The Last Decade, What's Ahead
Don't fight the Fed, as the saying goes. But at this point, it's reasonable to ask how much fight the Federal Reserve (Fed) has left. The Fed played an oversized role in stimulating markets over the past decade and became an indefinite backstop. But what's the line in the sand that the Fed will not cross in terms of support for the market? And how could monetary policy influence fiscal policy, and vice versa, at his point in the cycle?

Read in Seeking Alpha: https://apple.news/AmRchB0X2PSi1uo3gmTgfuA


Fresh cash for old: China central bank branch to destroy banknotes from coronavirus-hit sectors
The Guangzhou branch of China’s central bank says it will destroy all banknotes collected by hospitals, wet markets and buses to ensure the safety of cash transactions as the country battles a coronavirus epidemic. Financial news outlet Caixin reported on…

Read in South China Morning Post: https://apple.news/AGqGncQnnSQqIHbbmo15o7A


Don't mistake currency exchange rates for cash-advance credit card fees
Dear John: I am traveling to Europe and applied for and received a credit card from Capital One. I chose Capital One because its card uses a PIN number (which is required in Europe) and a chip. It also has no foreign transaction fees. Now I find out that when you use a PIN to make a purchase, it is treated as a cash advance with outrageous rates. When I tried to explain to Capital One that Europe requires a card with a chip and a PIN, I was told that was not true. I contacted my relatives in

Read in New York Post: https://apple.news/AYtjUlJuqQN2wTMuviP-rzA

I keep getting rejected for credit cards. How do I fix that?
To build a credit history, you need a credit card, but you can't get approval without a history. How can you fix this chicken-or-egg dilemma?

Read in USA TODAY: https://apple.news/AJI4L1mhFQNigl7s3ybfc8g

Why You Should Never Make Just The Minimum Payment On A Credit Card
Although minimum monthly payments for credit cards can make that balance appear manageable, the consequences of only paying the bare minimum can leave consumers chained to an anchor of debt for years.

Read in Forbes: https://apple.news/AD-1iWJ2NSFGq86xg4l71hA

CBI, ISX,Dinar Guru:
 
CBI Update:
 
 
Click on the link above for the latest update.

The CBI for Tuesday Feb 18th  rate is 1190.
The currency auction total sales amount $ 232,870,650.   


ISX Update:   At my last checking 
 ended in GREEN

Shares Traded:  1,445,909,907  
Value Traded:  840,190,442

Dinar Guru Chatter:
 
2-17-2020   Intel Guru RayRen98   Iraqi TV news broadcasting Allawi meeting with the blocs about the vote... stating there will be 302 ministers of the 329 that have agreed to vote. This represents approximately 90% of Parliament.  Allawi has been pushing to get his cabinet passed by making sure he has the votes secured before presenting it to Parliament. It now appears that the vote will be taken on Tuesday or possibly Thursday.

2-17-2020   Intel/Newshound Guru sandyf   Holding on the myth surrounding Kuwait is clutching at straw. The text of the document "The Impact of the Iraqi Invasion on the Kuwaiti Banking and Financial System: Lessons Learned from a Financial Crisis" is encrypted and cannot be copied. On page 3 it states that after the CBK had determined the currency that had been looted, the 3rd issue of the KD was abrogated as legal tender by Amiri decree, in other words it became invalid. A 4th issue was prepared and ready in December 1990. Only those with a legitimate right to be in possession of the 3rd issue were allowed to exchange that for the 4th issue at a value the 3rd issue had before the occupation.

12-17-2020   Newshound Guru Kaperoni   There are some signs...that once the new government is in place they will revise the 2020 budget to only cover expenses.  If true, that means the public/private partnership to begin reconstruction will be put on hold until next year.  Guess we will wait and see.

2-17-2020   Intel Guru MarkZ   No new rate in Iraq as of late on Saturday…no update yesterday...I am hearing phenomenal things…I am more than a little hopeful today...

2-17-2020   Intel/Newshound Guru sandyf   [Does Iraq have to be in Article 8 status to have an international currency...]  ...The question is invalid as there is no set definition for an international currency. The term is based on a vague set of parameters mainly about convertibility and how much is us used in international trade, very few currencies are considered to be international in that respect.  Article 8 makes a currency internationally recognized, something completely different. The terms of Article 8 ensure that a country must guarantee redemption of that currency and international banks are reluctant to handle a currency without that guarantee. Article 8 does not prohibit a bank from dealing in an art 14 currency, there are a few in this area and the local banks deal with them. Neither is Art 8 a restriction on a country changing the value of it's currency, I think it was 2014 when the Myanmar currency went from about 6 to the USD to around 900 to the USD. The largest official change in the value of a currency ever seen.

2-17-2020   Intel Guru Frank26  ...I don't like the idea of people going to a mom & pop bank.  Or a credit union.  These places are not  capable of taking care of you.  They will take your dinars and send them to a bigger bank for authenticity.  You don't want to separate yourself from your dinars.  Please ok?...

2-17-2020   Intel Guru RayRen98   ...News sources are saying that 19 of the 22 cabinet names are acceptable. The last 3 are being blocked from the Kurds and Allawi is working on the last 3 issues.  Breaking news on Iraqi TV -  after all day meetings and deals, the passage of Allawi's cabinet could be in the coming hours.  Sunni blocs, at 11:09 PM Baghdad time, confirmed their support for Allawi and he is expected to convene Parliament to take the vote. Time Will Tell...  


 Catnip's Corner:
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ARTICLE 1  (from PM Mahdi's website)

At the time this report was submitted, there are no new articles posted on PM Mahdi's website.

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ARTICLE 2 (from Government of Iraq twitter account)

At the time this report was submitted, there are no new tweets posted on the Government of Iraq twitter
account.

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ARTICLE 3

Parliament denies receiving the names of candidates for the new cabinet
17/2/2020 19:30 
[Baghdad-where]

On Monday, the Presidency of the Parliament confirmed that it had not received the names and functioning of the candidates in the cabinet of Prime Minister-designate Muhammad Tawfiq Allawi, until this moment.

The second deputy speaker of Parliament, Bashir Al-Haddad, said in press statements today, Monday, that "the Parliament Presidency has not yet received the names of the ministerial cabinet, after which a date is set for holding a block to pass and give it confidence." And represent all components of Iraq according to the base of the national partnership, otherwise it leads to instability of the situation and threatens the national fabric and social peace. "

In turn, Hanin Qaddou, the deputy of the construction alliance, suggested that the parliament session for passing Allawi's cabinet would be held next Wednesday or Thursday.

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ARTICLE 4

Al-Hashemi: Allawi has completed the selection of 16 ministers, and he lives with the conditions of Abdel-Mahdi, at the end of his mandate
17/17/2020 23:45 
[Baghdad-where]

On Monday, political analyst Wathiq al-Hashemi confirmed that Prime Minister-designate Muhammad Tawfiq Allawi had completed 16 ministers from his government cabinet, stating that Allawi was living in conditions of Abdul-Mahdi in the last hours to form a government.

Hashemi said in a press statement that "the political blocs repeated the scenario of Abdul-Mahdi with Prime Minister-designate Muhammad Tawfiq Allawi by giving freedom to choose and then using the last hours to impose certain names and conditions."

He explained that "the Shiite blocs stipulated that Allawi leave the international coalition from Iraq and then was embarrassed in the last hours by Barzani and Halbousi that the international coalition stay in exchange for supporting his government and voting for his cabinet."

He added that "the conditions of Al-Halbousi and Al-Barzani have become a stumbling block to Muhammad Allawi and placed him with great embarrassment in front of the Shiite blocs, especially since the latter does not have supportive blocks for him," noting that "Mohammed Allawi lives the circumstances of Adel Abdul Mahdi in the last arenas to form his government at the time of his assignment."

He stated that "Allawi has so far completed the names of 16 ministers from his government cabinet in dialogue with him, in order to resolve the other with the Kurds, because they insisted on the survival of Fouad Hussein and Allawi refused to him," noting that "the Shiite coalition is able to pass the government of Muhammad Allawi without the Kurds and Halabousi, but it is not He wants it as a purely Shi’ite government. ”

Hashemi continued, "The rumors of the names of candidates nominated by the government of Muhammad Allawi are all incorrect, but they were leaked to burn them with flags and keep the correct names secret for the day of voting."

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ARTICLE 5

Deputy: Kurdish forces did not grant Allawi the freedom to choose his cabinet

17/2/1920 19:36 
[Baghdad-where]

On Monday, al-Fateh MP Walid al-Sahlani affirmed that the Kurdish political blocs did not grant Prime Minister-designate Muhammad Tawfiq Allawi the freedom to choose his cabinet.

Al-Sahlani said in a press statement, “Most of the political blocs in the parliament have granted Allawi the freedom to choose his cabinet in accordance with the terms of competence and excitement, but the Kurdish forces have not committed to that.” It is appropriate for the ministries designated for the Kurdish component. ”

He added that "the Kurds did not give Allawi the freedom to choose his cabinet for fear of providing personalities that cause political problems for them within the region," noting that "Allawi has completed his cabinet and will be announced this week or early next week."

And the al-Fateh coalition expected, today, Monday, to determine the session to pass the government of Muhammad Allawi next weekend and give it confidence, indicating that Parliament is awaiting the submission of names to study biographies before the date of a session.
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ARTICLE 6

Disclosure of the date for the presentation of Allawi's cabinet
17/2/2020 19:46 
[Baghdad-where]

A parliamentary source revealed, Monday, the end of the meeting of leaders of political blocs with Prime Minister-designate Muhammad Tawfiq Allawi, likely that the latter will present his cabinet in the end of this week or the beginning of next week.

The source said in a statement, today, Monday, that "the Prime Minister-designate Muhammad Tawfiq Allawi, held an expanded meeting with the leaders of the political blocs in the framework of his discussions to complete his ministerial buildings and submit them to the House of Representatives for a vote on them."

He added that "the ministerial cabinet is likely to be presented at the end of this week or early next week."

The representative of the victory coalition, Nada Shaker Jawdat, had confirmed in a statement yesterday that the Prime Minister-designate Muhammad Tawfiq Allawi had sent his ministerial cabinet to the Accountability and Justice Authority for audit.

"The ministerial cabinet ensured that there are five ministerial seats for women, and all of the independents are non-partisan," Jawdat said.

She added, "Allawi has sent it to the Accountability and Justice Commission in order to consider the candidates' CV," and is likely to present it to the House of Representatives to gain confidence within the next two days.

Allawi also announced, last Saturday, that he will soon complete his cabinet, indicating that the names roll out will take place this week.

Allawi wrote via his Twitter account, "We are close to achieving a historic achievement, which is the completion of an independent ministerial cabinet from the competent and impartial without the intervention of any political party. In order to start implementing the people's demands. "

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