Monday, March 16, 2020

WOTS Mon Mar 16 2020

WOTS Mon Mar 16 2020


Markets:
ours are set to go down at opening already hitting down limits  
over 1000    21798 points fo th down  approx 5% cross the board

european  markets open now are all down  currently

NIK  down 2.46%     HSI  down 4.03 %   SHANG  3.4


Precious Metals:    
Gold  green at 1540.87    Silver 13.85   red      copper   241 red      platinum red   731

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1160.7000  1214.3000 1186.3000 1186.3000 1186.3000  -5.3000 07:12
 USD/VND  22851.4800  23566.0900 23183.2600 23183.2600 23183.2600  7.5800 07:12
 USD/CNY  7.0118  7.0138 7.0122 6.9922 7.0070  0.0049 07:13
 USD/KWD  0.3083  0.3093 0.3088 0.3076 0.3076  0.0012 07:10
 GBP/USD  1.2310  1.2311 1.2420 1.2259 1.2270  0.0037 07:13
 USD/IRR  0.0000  0.0000 42097.5000 42097.5000 42097.5000  97.5000 00:00
 USD/IDR  14978.0000  14978.0000 15105.0000 14578.0000 14639.0000  417.0000 07:13
   
Things in the News...  


DON'T HOARD
FED CUTS RATES TO ZERO
STOCKS 'LIMIT DOWN'


Iraqi Articles:

Opening: the formation of the new cabinet will not exceed 10 days

On Sunday, the deputy from the Al-Fateh Alliance Hamid Al-Mousawi said that the formation of the new ministerial cabinet may not exceed 10 days from the date of assignment, pointing out that the Seven Alliance will present a set of names for choosing one of them by the leaders of the alliance and submitting it to the President of the Republic to commission him to form a government.
Mousawi said in a statement to, "Information," that "the seven Shiite political forces agreed among themselves to end the file for the selection of the candidate for the new prime minister, as there is agreement to accelerate the arrival of a consensual figure without there being a difference by the other forces to assign this character ”
He added that "the Seven Committee will submit today the agreed names to the senior leadership of the Seven Alliance, to choose one of them and submit it to the President of the Republic in order to assign him to form a new government."
And that "the new candidate may not exceed the completion of the ministerial booth for a period of 10 days," noting that "there is a group of names nominated to head the government and the selection of the Seven Committee will be on one of them to assign him to form the government.

Parliamentary finance calls for restructuring the state sectors and postponing the payment of foreign debts
On Monday, the Parliamentary Finance Committee called on the government to restructure and organize the state sectors in an optimal manner and to postpone the payment of foreign debts.
"The government is required to restructure all its sectors and regulate them to control their expenditures, especially with the sharp decline in oil prices," said committee member Jamal Kouger.
Cougar called for "the necessity of estimating the price of oil in the 2020 budget according to current prices."

Jafar: Shiite blocs categorically reject the 
return of Abdul-Mahdi and the coming week 
will witness the mandate
The former deputy general secretary of the Turkmen Federation of Iraq, Jasim Muhammad Jaafar, confirmed today, Monday, that the Shiite blocs categorically reject the return of Adel Abdul Mahdi to head the government, indicating that next week will see the appointment of the new candidate.
Jaafar told "Al-Akhbaria" that "the Shiite forces will change the mechanics of choosing the next prime minister for the success of their mission," noting that "some members of parliament are intransigent in choosing a figure close to their blocs who fails the negotiations of the seven Shiite blocs."
He pointed out that "next week will witness the announcement of the name of the new candidate for prime minister."
According to Article 81 of the Constitution, the President of the Republic shall act as the Prime Minister when the position is vacant for any reason.

Al-Rafidain launches the online platform to apply to the advances of employees and retirees


Al-Rafidain Bank announced the launch of the online system platform to apply to the advances of employees whose citizenships are paid to the bank and retirees who hold electronic cards issued by the same bank.
The media office of the bank stated in a statement that it was decided to launch the platform of the immediate electronic system to present to the advances of employees and retirees through mobile and other electronic devices. Noting that the employee or retired person can apply for advances from anywhere he is, whether from the home or his department and by entering the electronic link https://qi.iq/loans .
The statement clarified that after entering the electronic link and filling in the information related to the coverage of the advance, and upon completing filling in the fields mentioned in the electronic link with regard to applying for the advance, the employee or retired person will be notified by sending a text message that he receives on his personal mobile, notifying him of including the grant of the advance.
The statement pointed out that after the completion of this stage, the employee or retired person must wait for a very short period until he receives a message through his personal phone to instruct him to fill the financial balance to it for the advance through his electronic card.

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

The CBI for  Monday March 16th rate is 1190.

The currency auction total sales amount $ 247,696,990.
   
ISX Update:   At my last checking 
end in red
Shares Traded: 1,640,363,147 
Value Traded: 1,242,497,540

Dinar Guru Chatter:

3-16-2020  Newshound Guru MilitiaMan   Well, the dinar has been clearly been given the green light to move. The auctions are to stop, and the value of the IQD is to rise, NSCNs and coins are said to be in place where they will be needed, Alak Gov at the CBI  has been effectively announcing the need to raise the value of the IQD over the last few days, etc...   The COV-19  is deadly to some as it can be, it is nothing compared to past bugs in shear volume or statistical  numbers, therefore, the nature of the hysteria, may be used to hide and usher in the new beginnings and with that a RI with the IQD will help support that bounce Trump has so kindly given us hope for...  Lets all hang in there and pray we are truly witnessing a blessing well deserved by us all. We shall see.  imo.
3-15-2020   Newshound Guru Jeff    What are we waiting on?  What have been the holdups?  ...there's a lot more to the coronavirus than just a virus...when the rate does change its gonna spike the US markets...IMO they had to use the coronavirus...to bring the markets down so when the rate does change it can shoot back up....

3-15-2020   Intel Guru RayRen98   Iraqi TV in Baghdad is broadcasting that a Prime Minister candidate will be named TODAY and all parties will agree.

3-15-2020   Newshound Guru Pimpy  Article:   "Reducing the Iraqi dinar exchange rate - determinants and alternatives"  ...what they're saying is if you devalue the Iraqi dinar then its gonna kill them on imports...They have to spend more money for raw materials.  That's not what they need...they need to increase the value of the Iraqi dinar so that they could get the raw materials needed to rebuild that country.  If you decrease it it's only gonna hurt them.  It's gonna cause inflation because I'm gonna have to produce more money in order to buy more materials...if oil prices are dropping and it's causing your deficit to go up.   If it's causing your budget deficit to increase why would you then turn around and lower the value of your currency?  That doesn't make sense...It goes on to say why the hell would Iraq lower their exchange rate that's the opposite of what they should be doing.  I'm gonna agree with this article...they go on to make this case that decreasing the value of the currency is the wrong move.  It should be increased...

3-15-2020   Newshound Guru G-Lin   Article:  "Al-Asadi: Tonight, the name of the prime minister will be announced"  Quotes:  "The head of the "Sanad" parliamentary bloc, Ahmed Al-Asadi, announced on Sunday that tonight the name of the prime minister will be announced.";  "in the coming hours, the Seven Committee will decide its decision regarding choosing the appropriate person to form the interim government and submit it for final approval."   Looks like a new P.M. maybe.

3-15-2020   Newshound Guru chattels   "Floating the currency is never going to create any meaningful return on the IQD investment."   is a position that makes good sense to me. I expect that many would likely sell out with a very modest return on their investment.  If one had enough dinar to sell some and "get healthy " or even and wait for an uncertain future then maybe such is a workable wealth plan with a float of the currency. Otherwise my expectation is that Iraq alone is too much of a mess and we must hope for some larger macroeconomic event that may inure to the benefit of the IQD.

3-15-2020   Intel Guru Frank26  ...They are to lift the value of the Iraqi dinar so that it can be on par with the American dollar not just at one to one but beyond.  That's the plan.

3-15-2020   Newshound Guru Jeff   Article:   "Urgent: The seven committee selects Naim Al-Suhail as a candidate for Prime Minister"  Supposedly they have a committee of 7 members and supposedly they've named this gentleman Al-Suhail as a candidate for prime minister...we'll see if they can actually make that announcement Monday supposedly the deadline to appoint a nominee for the Prime Minister.  Either way I'm not too concerned about the political process.  Remember the Central Bank is completely autonomous from the government itself...the Central Bank has been in communication with the Trump Administration...From all of Iraq's actions in all of '19 they showed us they were setting the stage for this.  In greater depth they showed us they were setting the stage for this in Q1 of this year.  Iraq has showed us and revealed to us from their steps and factual actions they are ready...

3-15-2020   Intel/Newshound Guru sandyf   ...It would be delusional to think that Iraq meets the IMF guidelines for a successful transition. Iraq is in a desperate situation, as was Egypt when the IMF forced the transition as a devaluation mechanism. If Iraq follows the same path it will join Egypt on the list of disorderly transitions with the IQD taking many years to regain the value it has now.  Floating the currency is never going to create any meaningful return on the IQD investment.

3-15-2020   Newshound Guru Pimpy  For those of you who didn't hear about this.  There was a bombing that took place in Iraq.  It killed a British citizen along with two American citizens...I told you the response would be quick and swift.  This is not your normal president administration.  This is the Trump administration and when you kill an American citizen this man does not play around...His responses are very quick, precise and accurate.  This guy has removed more terrorists leaders than any other president.  It's not a good time to be in a terrorist business.  The United States carried out airstrikes over 5 locations across Iraq against Iran backed militia groups that killed 2 Americans and 1 UK citizen...the more Trump removes the Iranian influence out of Iraq the better off we are as dinar holders...

Catnip's Corner:
*************
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)
As a Chief Engineer, Alaa Omar plays a critical role in maintaining the safety and integrity of the Mosul Dam. Watch this episode of #DedicateToService #والنعم_منك to meet him.

*************
ARTICLE 3


The Crisis Cell’s decisions on Corona include a curfew, flights and the Internet. [Extended]

3/15/2020 22:07 
[Baghdad-where]

Diwaniya Commission Committee No. 55 of 2020 held an expanded meeting today evening Sunday, headed by Prime Minister Adel Abdul Mahdi and in the presence of the Ministers of Health, Finance, Interior and Communications, the Governor of Baghdad, the Secretary of Baghdad, the President of the Information and Communications Authority, a number of ministry representatives, officials and consultants, and a representative of the World Health Organization.

A statement of the Prime Minister's Office stated that "the meeting discussed developments in the health situation and the procedures of the Ministry of Health, Environment and Crisis Cell to prevent the spread of the new Corona virus and ways to prevent it, and discussed the measures that must be taken in light of the developments and challenges facing the work of the crisis cell and support its efforts."

He added, "In order to prevent the exacerbation of the epidemic crisis in Iraq and to preserve the safety of our citizens from disease and in line with the recommendations of the World Health Organization, which requires taking all preventive measures and precautionary measures aimed at protecting peoples from the dangers of the epidemic, and following previous decisions."

The committee decided the following:
1. Immediately imposing a curfew in Baghdad starting from Tuesday, 11:00 pm, March 17, 2020, until 11:00 pm, on Monday, 23 March 2020, and disrupting the official working hours in all ministries, governmental and non-governmental institutions, with the exception of the security, service, health and means Media authorized to operate, diplomats, and the commercial movement of goods and foodstuffs.
2. The relevant authorities should conduct sanitation campaigns and health visits to areas identified by the health services in Baghdad.
3. The governors are empowered to impose curfews in their governorates.
4. Suspending flights from Tuesday 17 March 2020 to Tuesday 24 March 2020.
5. The Ministry of Communications is increasing the internet capacities entering Iraq through the companies contracting with it, ISP, and is working to reduce prices for a month that can be extended, and to give free capacities determined by the ministry.
6. Emphasis on stopping movement between governorates.
7. Emphasizing on citizens in all governorates to follow medical procedures, directives and guidelines, including avoiding attending gatherings and mixing, and staying in homes except in cases of necessity.
8. The relevant authorities should implement the above decisions.
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ARTICLE 4

Saleh and Abdul-Mahdi inform Al-Halbousi of the necessity of declaring the state of emergency in the country for thirty days

3/15/1920 15:09 
[Baghdad-where]

The office of the President of the Republic, Barham Salih, announced on Sunday that the latter and the Prime Minister sent a message to the Speaker of Parliament to declare a state of emergency for thirty days.

"The President of the Republic and the Prime Minister sent a letter to the President of the House of Representatives to request the declaration of a state of health emergency for thirty days, subject to extension," the office said in a statement.

He added, "This came in accordance with Article 61 of the Constitution."

*************
ARTICLE 5

Finance resolves the controversy and confirms the continuing insurance of salaries for employees and retirees

3/15/2020 15:01 
[Baghdad-where]

The Ministry of Finance resolved the controversy over the salaries of the ministries, government departments and institutions and the pensioners ’salaries, with reports of being affected due to the drop in world oil prices to record levels as the country's budget depends on oil rents by 90%.

A statement of the ministry received a copy of the agency, [Ain], that "Sunday morning, the Deputy Prime Minister for Economic Affairs and Finance Minister Fouad Hussein included a meeting that included the Governor of the Central Bank of Iraq, the Under-Secretary of the Ministry of Finance, the agency and head of the General Retirement Authority, the Director General of the Public Debt Department and general managers of Rafidain, Rashid and Iraqi banks. For trade to study and evaluate the general financial situation and how to manage the current crisis in various aspects, and for banks and the central bank to take their role in providing financial support to face the crises facing our country. "

The conferees stressed, according to the statement, "the continuation of insurance for the salaries of employees and retirees, and on the other hand, support the activities of the crisis cell and the Ministry of Health and its directorates to confront the threat of the spread of Corona virus."

He pointed out that "the meeting reached many decisions, the most important of which are: in order to address the legal situation of financing the Ministry of Health and its departments with the funding it needs, the meeting decided to open a special account to receive and deposit donations by banks, companies and governmental and private bodies and the exchange will be under the supervision of a higher committee, this is in addition to Monthly financing by the Accounting Department at the Ministry of Finance.

The statement pointed out that "and based on the directives of the Deputy Prime Minister and Minister of Finance and a feeling of great responsibility towards our people, the Iraqi Trade Bank donated five million US dollars and the Rafidain and Rashid banks three million US dollars," stressing that "the door for donations is open to the rest of the bodies and institutions and this account is from In order to face the threat of the spread of Corona virus. "

He continued, "And in the interest of officials in the Ministry of Finance and the banking sector on the health of citizens and to support health institutions, another set of decisions has been taken to raise the health level in the country."

*************
ARTICLE 6

List of several ministers and officials who were infected with the Coronavirus

3/15/2020 23:52 
Where to go

Announced by the World Health Organization, a new global epidemic, the Corona virus continues to invade the various countries of the world without mercy, infecting the big and small, politicians, presidents and officials without discrimination.

The following is a preliminary list of ministers and officials who have been infected or suspected by the medical devices of the virus:

- King of Norway Harald V and his wife, Queen Sonia

- French Minister of Culture, Frank Rester

- Brazilian Minister of Communications Fabio Waggarten

- Acting Brazilian Ambassador in Washington Nestor Forster

- Wife of the Canadian Prime Minister Sophie Gregoire

- Prime Minister of Canada Justin Trudeau

Representative of the Philippines at the United Nations

- Chief of Staff of the Italian Army, Silvator Farina

- Portuguese President Marcelo Rebelo de Sousa

- Minister of State for British Health Affairs Nadine Doris

- Australian Minister of Home Affairs, Peter Dutton

- 4 HIV infections in the German Parliament

- Maria Begonia Gomez, wife of Spanish Prime Minister Pedro Sanchez

- Indonesian Transport Minister Bodi Kariya Somaday

- France's Minister of State for Environmental Transport and Solidarity Bron Bouarson

- 10 members of the French Parliament

- Moroccan Minister of Equipment, Transport, Logistics and Water, Abdelkader Amara

- Iranian Vice President Masoumeh Ebtekar

- Adviser to Mr. Khamenei Ali Akbar Velayati

- Mujtaba Dhul-Nur, Chairman of the National Security and Foreign Policy Committee of the Iranian Parliament

- Member of the Iranian Expediency Council - Muhammad Mir Mohammadi (died)

- Iranian Minister of Industry, Minerals and Trade Reza Rahmani

- Iranian Minister of Heritage and Tourism Ali Asghar Munsan

- President of the Iranian Olympic Committee, Salehi Amiri

The head of the Iranian emergency organization, Birhsin Kolliond

- Ismail Najjar, Director of the Crisis Management Organization in Iran

The virus also infected the winner of the recent legislative elections, Zahra Lahian, former Minister of the Interior Mustafa Pourmohammadi, Minister of Health Erg Hariri, and member of the Expediency Council, Muhammad Javad Erwani.

Also, a group of deputies underwent treatment and quarantine, namely, Shehab Naderi and Ghulam Reza, a writer, and Masumah Alikhabur Aliishahi and Mahmoud Sadqi.

The Corona virus resulted in the death of a number of Iranian representatives and officials, including Deputy Fatima Rahbar, MP Mohammad Reza Rah Jemni, former Iranian ambassador to the Vatican Hadi Khusrawshahi, former Iranian ambassador to Syria Hussein Sheikh Islam, and advisor to the head of the judiciary, Ahmed Tuyserkani.
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