Monday, March 9, 2020

WOTS MON MAR 9 2020

WOTS MON MAR 9 2020

Markets:

All Asian markets closed down  approximately 6% 
NIK down 1050/5%  HSI  down 1106/4.2%   SHNG 91/3% 

Ours are due to start about 5%  DOW futures are halted at -1255

The uk markets are currently abut 6% down 
Precious Metals:

Gold is at another rec high  1678  but it almost made it to 1700  at 1699 a few hours ago Silver  showing down at 16.93 it was over 17 again   copper re at 247  and platinum  is down to 870  34 dollars down 


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1168.4000  1220.9000 1193.5000 1193.5000 1193.5000  0.1000 07:22
 USD/VND  22840.6300  23541.3700 23165.9700 23165.9700 23165.9700  -31.0200 07:22
 USD/CNY  6.9471  6.9491 6.9515 6.9226 6.9306  0.0166 08:12
 USD/KWD  0.3045  0.3055 0.3052 0.3049 0.3052  -0.0004 07:49
 GBP/USD  1.3103  1.3105 1.3199 1.3035 1.3062  0.0058 08:12
 USD/IRR  0.0000  0.0000 42097.5000 42097.5000 42097.5000  97.5000 00:00
 USD/IDR  14361.0000  14369.0000 14626.0000 14123.0000 14187.0000  115.0000 08:11


Things in the News...
CoronaVirus headlines ...

Other Things ...
Wells Fargo Chair has stepped down 

Iraqi Articles: 
The central bank begins a sterilization campaign for its building in the Mosul branch
The central bank begins a sterilization campaign for its building in the Mosul branch
The Central Bank of Iraq / the Mosul branch, in cooperation with the Directorate of Civil Defense in the province, and in the presence of the radioactive chemical chemical team (CBRN), initiated cleansing and sterilization operations in the Central Bank that covered all building facilities, to guard against the spread of infections with the emerging " Corona Virus " .
more photos at the link if you care to see them
In compliance with the orders of the Crisis Cell .. Iraq Stock Exchange stops the presence of investors in its hall
The Iraq Stock Exchange decided, Monday (March 09, 2020), to stop the presence of investors in the market hall in compliance with the decision of the health crisis cell, and to .prevent gathering in public places
The market stated in a statement received (Baghdad today) that it "decided to stop the presence of investors in the market hall in compliance with the decision of the health crisis cell, in order to prevent the gathering in public places until March 21, 2020, or any other day ".decided by the crisis cell
The statement added, "The market receives the auditors, provided that they adhere to public ".health requirements The Crisis Cell, which was headed by the Minister of Health, Jaafar Allawi, has issued many decisions requiring no gatherings in public places, as well as closing commercial malls and opening them for three hours a day, and urged Iraqis residing in Iran to return to the country before the middle of this month, in addition
To extend the suspension of official working hours in schools and universities until the 21st of this month, with the necessity of stopping religious and social gatherings until further notice, and closing all borders except for .Baghdad, Basra and Erbil airports
After that, the Supreme Judicial Council instructed to take legal measures against those who .do not comply with the instructions of the government crisis cell for confronting Corona virus The number of deaths due to infection with the virus increased to 7 throughout Iraq, two in Baghdad and one in each of Sulaymaniyah, Karbala, Babil, Erbil, and Maysan, while the number of infections throughout the country reached more than 50 cases distributed as follows: Baghdad, Sulaymaniyah, Kirkuk, Najaf, Wasit, Diyala, Karbala, Maysan, Babil, Irbil , .Muthanna, Anbar

Bankers hold an important meeting to discuss economic decisions
A number of bankers held a meeting at the headquarters of the Iraqi company to finance small and medium enterprises to discuss a set of economic and banking decisions.
Participated in the meeting, the delegated director of the Iraqi Commercial Bank, Nuri Al-Dubais, the executive director of the Iraq Stock Exchange, Taha Ahmed Abdel Salam, and the United Bank Abdul Rahman Al-Sheikhly, the authorized director of the Iraqi Company for Small and Medium Enterprises Financing, Sulaf Hussain, advisor Adnan Chalabi and advisor to the Association of Iraqi Private Banks Khawla Al-Asadi and advisor Hamid Abdal Majeed.
The meeting also discussed, among other things, the Central Bank’s instructions for housing loans and the conditions contained therein.
While they stressed the importance of the Central Bank’s decision on housing loans in addressing the housing crisis and supporting citizens to improve their living conditions.
 The meeting also discussed a mechanism for activating bank shares in the Iraq Stock Exchange, in cooperation between banks, the central bank and the
Securities Commission to prepare a study on this topic.

Shamkhani: The security, stability and prosperity of the Iraqi people are very important matters for Iran

IRNA - Secretary of the Supreme National Security Council of Iran, Admiral Ali Shamkhani, affirmed that the security, stability and prosperity of the Iraqi people are matters of great importance to Tehran, stressing that there is no justification for Iran's interference in Iraqi affairs.

In a statement he made to the correspondent of the Islamic Republic News Agency, "IRNA", this evening, Sunday, Shamkhani confirmed that the Iraqis are mature and able to manage their situation and do not need our intervention.
He added: that, in light of these special regional circumstances, we decided to make a two-day visit to Iraq and to hold meetings with the Iraqi President, the Prime Minister, political figures, parties, the head of the intelligence service, and the Minister of Health.
The Secretary of the Iranian Supreme National Security Council indicated that he discussed with Iraqi officials the regional circumstances and the common interests that Iraq and Iran aspire to at this stage.
Shamkhani added that another important axis discussed with Iraqi officials is the continuation of political and economic cooperation between the two countries after the influence of Corona and the willingness to provide specialized assistance in this field, given the World Health Organization’s declaration that the Islamic Republic of Iran has specialized expertise in this field.
He said, we did not only have common and specific views with Iraqi officials, but also discussions were held on remaining issues between the two countries, including the agreements that occurred during President Rouhani's visit to Iraq and the 1975 agreement and some other points of cooperation between the two countries.
Shamkhani expressed his hope that this visit will result in speeding up the implementation of previous agreements between the two countries and that the new agreements will be a basis for raising the level of cooperation between the two countries' friendly and brotherly governments in the various fields.
In conclusion, he thanked the people, parliament and the Iraqi government for the funeral of the two dead bodies of the two martyrs Soleimani and Abu Mahdi Al-Muhandis, as well as for the law that was ratified for the exit of foreign forces from Iraq and their insistence on its implementation within the framework of Iraq's interests.
It is noteworthy that the Secretary of the Supreme National Security Council of Iran, Admiral Ali Shamkhani, had arrived in Baghdad on Saturday evening and met today, Sunday, the Iraqi National Security Adviser Faleh Al-Fayyad, the head of the National Intelligence Service Mustafa al-Kazemi, the head of the caretaker government Adel Abdul-Mahdi and President of the Republic Barham Salih and Parliament Speaker Muhammad Halbousi in addition to a number Of the personalities and leaders of political currents in Iraq.
During these meetings, they discussed issues of political, security and economic cooperation between the two countries as well as the most important regional and international issues of common concern.

Between the public and the employees of banks

Banking awareness has become a priority for the banking industry, as there is no banking sector that contributes to sustainable development without spreading banking awareness among the general public, and the latter is the most important link in the circulation of the monetary mass through the banking trading arena, it is the owner of the money at times Another time is the hoarder, the creditor, when he deposits it in bank accounts, and the debtor when he enjoys credit and other banking facilities.
It is said that there are no banks without the public and "individuals and companies" as the consumer of the product or banking service, the main source of bank profits, and the financier of the salaries of employees, and is also the basis on which the strategy of operating in any bank is established, because it is the origin of competition and motivation. To develop services, products and the basis for the reputation of any bank.
Hence the importance of spreading banking awareness among the public, to attract and rotate funds, by knowing what this audience wants and achieving the lowest prices and the highest quality, and therefore the bank has to understand its needs and respond to them, exposing it to various services at competitive prices that put its needs at the forefront of During the most efficient employees trained to deal and show respect and reassurance about the confidentiality of information about individuals and companies and ensure that funds are protected and obtained upon request.
Hence, the public should be aware of its importance, so he goes to the bank and is assured of the respect, welcome and benefit he will receive, before he understands the mechanisms of work, so he gets decent service and a sense of interest and reassurance and get information clearly so that the service he receives is useful and not without feelings. Humanity and behavior, and valuable behavior, then the bank reaches the personal dimension of the service that will easily pave the procedural dimension, as it will be easy for the public to reach a bank awareness that promotes the skills of trading and dealing, and be a reason to continue to deal with this bank alone.
From this point of view, banking awareness comes as a tool to improve the process after public satisfaction with the service and upgrade it, because the origin of this process is to achieve trust and acceptance, hence we wonder about the need for banking awareness among the public and banking employees? Can the public reach a banking consciousness without bank workers being aware of the importance of this audience, and can the methods of promotion, propaganda and advertising otherwise achieve their objectives? 
The transition to a market-controlled economy that depends on investment in development, necessarily based on a banking sector that rises to the level of the global banking industry, and this sector, which will be based on the principle of competition, requires and necessarily gives importance to the training of workers in good Dealing with the public at all levels, as I often travel long distances to deal with a bank that has a smiling service officer who is able to answer questions.

Iraqi Private Banking Association holds a course on "Banking Sensitivity"
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The Association of Iraqi Private Banks, in cooperation with the Center for Banking Studies at the Central Bank, held, on Sunday, the "Banking Accounting" course, with the participation of a number of governmental and private banks, at the headquarters of the association.
The course aims to inform the participants of the latest systems used in bank accounting by global banking institutions and the use of international accounting programs.
The course targets financial managers, account managers, accounting department officials in bank branches and credit and financing officials in commercial and Islamic banks.

Recent widows need financial guidance after a spouse’s death

link      Full article at the link

KEY POINTS
Most married women will outlive their male spouse.
Half of widows over age 65 will outlive their husbands by 15 years.
Sometimes a widow’s grief can lead to “brain freeze” but here are five tips for people struggling to get a grip on their finances amid the grieving process.
1. Don’t rush into major irrevocable money decisions right away. With important financial choices ahead, speed can make a mess of things. When you are in the midst of grief and mourning, your brain functions differently.  
2. Watch out for financial wolves who will prey on widows. Unscrupulous financial salespeople may take advantage of women after their spouse dies. My elderly widowed aunt was sold Iraqi dinars by “a nice young man” who was the nephew of her church friend.

That financial wolf convinced her to buy the Iraq currency. He told my aunt she would double her money with this investment, to earn much more than her certificates of deposit. In return for her cash, she received an official-looking signed “certificate of authenticity” along with the colorful dinar currency.

But my aunt never received one penny back. She tried to contact this scam artist later, but he had skipped town ... obviously looking for other vulnerable widows elsewhere.

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

The CBI for Monday MAR 9th  rate is 1190.
The currency auction total sales amount $ 219,564,128.   
ISX Update:   At my last checking 
 ended in RED
Shares Traded: 1,165,453,975 
Value Traded: 563,348,104

Dinar Guru Chatter:

3-9-2020   Newshound Guru Pimpy  ...because of the coronavirus crude oil is taking, just like cryptocurrencies.  Just like the Dow.   These things are getting killed.  Just getting annihilated...it dropped to $45 I think right now.  It might have dropped a little bit more...between the protestors and their government and the PM I don't know how much worse it can get for Iraq.  It's just at its worse...this actually might be good for us in the Iraqi dinar community...let's just hope that oil prices keep going down and maybe that might trigger something that we've been waiting for...if ever a time before where Iraq needed a rate change to happen it's definitely now...
3-8-2020   Newshound Guru Adam Montana    ...I think they did want over $3 at first, and there was a small chance it could have happened. Now that time has passed, and more people (and institutions) are aware of it and have had time to prepare, they will have to keep it to a dollar or less.  [reference Guru Breitling post 3-8-2020]

3-8-2020   Intel Guru Footforward   Suddenly people are talking about how Iraq's economy is in trouble. The puzzle pieces are coming together so well. Without an RV Iraq is in big trouble.

3-8-2020   Intel Guru Frank26    Question IYO could the concern of the coronavirus spreading via handling old IQD hasten the issuing of the new lower denoms?  ...in the last 4 or 5 days with my teams we're considering now the CBI is now using the coronavirus as part of their strategy for the reinstatement of their currency.  And for the announcement and the education...

3-8-2020   Newshound Guru Breitling  ...I get emails from people asking what rate would you get out at?  We know what they want.  At a minimum they want to get to a dollar.  Back in the day they wanted to get to $3.25...There's no way to know.  That's why I suggest that it's very important that you know what you want.  You got to buy a house.  You want to pay off your house.  What are you gonna do?   That will give you your best measuring stick that you need to be able to exchange and at what rates...we're speculating on a real opportunity...

3-8-2020   Intel/Newshound Gurus Delta and MilitiaMan   ...with the CBI telling banks to stop using cash because of the Corona  Virus, they'll (the CBI) need to cease using cash as well. All types of currencies, too. Thus, they will need to stop the  Currency Auctions. (KO punch to Iran?) They now have a valid excuse outside the parameters of the GOI to RI, as it is vital to the Monetary system to keep money moving. They stop money movement they will have problems with the IMF, UST, WB,  inflation rearing it's ugly head, no liquidity, etc.. So this suggests they are ready to raise the rate soon, as they have the calculations and values necessary to do so.  The have the excuse of the virus as an ace in the hole to get it done. imo.  They will soon announce they are Art 8 and at what rate they have calculated for the value of the future IQD exchange rate that all the Iraqis await and we too.. imo...the Perfect Storm is Upon us..ioo...   [post 2 of 2]

3-8-2020   Intel/Newshound Gurus Delta and MilitiaMan   Delta: Article:  "Mansour Express Exchange and Remittance System"  A new product through the system for the window selling foreign currency to the Central Bank of Iraq.   MilitiaMan:  They clearly have now set things up to be electronic and in a big way. And in an International way. They are telling us they have the legal accounting, evidence of "Calculations", of Accounting Values, with International Standards...suggests they have the international rate to go with it too. They would not be going cashless with a system like this at a program rate and at a time like this. But at an international rate imo, yes they would.  [post 1 of 2....stay tuned]

Catnip's Corner:

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ARTICLE 1 (from PM Mahdi's website; posted only on Arabic side, not on English side)

Prime Minister Adel Abdul-Mahdi congratulates Iraqi women on their international day

By International Women's Day, we present the most sincere congratulations and blessings to Iraqi women as they fill the fields of knowledge, work, creativity, construction, and all fields of life, along with their acclaimed position in jihad and defending the homeland, a martyr or a wounded patient, counted as a mother, sister, wife, and daughter of the martyrs and wounded.

Fethiye has a voice expressing the legitimate aspirations and aspirations of our honorable Iraqi people in our present era, as the role of Iraqi women has emerged early in the history of Iraq, and this essential role in the state and society should continue and be strengthened.

We renew our congratulations to Iraqi women and to all the women of the world, asking God to protect our people and pay the efforts of his daughters and sons to achieve justice, equality, equal opportunities and a better future for all Iraqis.

Every year, you, Iraq, and all its people are all good.

Adel Abdul-Mahdi
Prime Minister
8-March-2020

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ARTICLE 2 (from Government of Iraq twitter account)


@IraqiGovt March 7 2020
Let’s celebrate all #IraqiWomen and their achievements, and renew our commitment
to advance gender equality and the empowerment of women and girls to play an active role 
in building a sustainable, prosperous and peaceful future for Iraq.

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ARTICLE 3

A female representative calls for the nomination of a feminist figure to head the new government

8/3/208 14:2
[Baghdad-where]

Representative Yousra Rajab, a member of the Parliamentary Commission on Human Rights, asked the political blocs to choose and nominate a feminist figure for the position of the new prime minister, stressing that this would be an important step towards changing the reality and norms that have dominated the political scene in the country from 2003 until today.

She added in a press statement, "This matter will give a strong message to the local and international community of the seriousness of the political blocs in changing programs, ideas and attitudes in the interests of the Iraqi people."

She said that "on the International Women's Day and in light of the reality and conditions that the country is going through, I ask the political blocs to choose a feminist figure who will certainly be non-dialectical and has never held an executive position during the past years and will have wide acceptance in the Iraqi and political street."

She cautioned that "her request and demand for it is not a matter of racism, but rather is a legitimate right for women and an effective and successful proposal to overcome the obstacle of forming the new government, which has been long overdue in the absence of the state budget and serious crises, the absence of employment opportunities, poor services and high indicators of poverty and unemployment that pushed the people To come out in demonstrations and sit-ins that have been going on for more than three months, as well as the spread of Corona virus and the importance of controlling it urgently. "

She stressed that "the nomination of a feminist figure who possesses qualifications and competence and everyone stands behind it will be an important reason in overcoming the current sensitive and dangerous situations in the history of Iraq."

She pointed out that "women, by their composition and composition, are not the same as two who are more careful, insistent, dedicated and willing to achieve success in matters of life and business management, and therefore there is no doubt that they will succeed greatly in managing the government and moving the country towards a beach of safety and success."

She noted that "women in the new Iraq were supposed to have better political and social rights than they had at the time of the old regime and the new constitution, but we did not notice substantial progress in that area, and because of the bitter reality in which women live, their suicides increased in various Throughout the country, including the Kurdistan Region, although the women there took a more role in which women witnessed a broader role compared to the federal government, but unfortunately they did not take these roles as essentially as they are formal.

Rajab also called on "the parliament to issue decisions and legislations that enhance and activate the role of women in decision-making and obligate ministries and bodies to grant women rights guaranteed by the Iraqi constitution and law, and from it the right to a job and a decent life worthy of the reputation of Iraq, its wealth and civilization."

She expressed "hope that the political and parliamentary blocs take their demand into consideration for this being a legal and constitutional requirement."

She concluded her statement by saying, "The Iraqi people have tried men in governance and the state for decades, but the political scene has been complicated every time without achieving economic development and political and security stability. The time has come for men to allow women to run the next new government, whose age will be limited to a short period in preparation for early elections." ".
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ARTICLE 4

Victory Coalition warns of upcoming financial deficit "paralyzes the state"

Editing Date: 7/3/2020 15:23 • 98 times read
[Baghdad-where]

The Victory Coalition warned of a financial deficit that paralyzes the state’s obligations, and exposes the country to a societal security collapse due to a miserable financial economic policy that led to the financial and economic deficit.

The coalition said in a press statement, "The failure of the financial and economic policies of the current government, and the policy of corrupt wasteful spending helped us enter the financial and economic danger zone. The budget deficit exceeds 50 trillion dinars, and it is increasing, despite the huge financial balance inherited and lost by the current government, as the current decline The expected oil prices will put the state in the deficit to pay the salary benefits and the operating budget by the end of this year. "

He added that "the significant decline in global financial markets, the continuous decline in oil prices, the impact of epidemics and hotbeds of global tension, led to a serious decline in the movement of the international economy, and the features of the economic recession today seem closer than ever, and Iraq is more likely than others to receive these economic shocks because of politics Is rational for the current government, which amounts to a breach of trust in the government. "

The Victory Coalition believes that "the absence of financial and economic vision, the persistence of quotas corruption, the weak control of the state authorities over its institutions, its failure to effectively manage government, and the plundering of state resources by power centers, are all factors that will lead the country to an economic catastrophe we warn against falling into, and we burden the government and political forces It has produced and which now hinders the commissioning of an independent and effective government. We bear full national and historical responsibility for what will become of the Iraqi state. "

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ARTICLE 5

Two characters nominated to head the new government .. And decisiveness next week

3/8/2020 23:18 
[Baghdad-where]

On Sunday, politicians and parliamentarians revealed that the list of candidates nominated to head the new government will be reduced to two characters, after the Shiite political forces agreed on two bars in the specifications of the prime minister candidate, indicating that the settlement of the mandate will be made next week.

Informed sources said today, [8 March 2020], that the dialogues on the day of yesterday, Friday, and yesterday, Saturday, in Baghdad, between the leaders of the political blocs concerned with the nomination of the new prime minister, the Arab Shiite political forces, led to the reduction of the list of names nominated to head the government , Where a number of their names were excluded, and the current head of the Iraqi intelligence service, Mustafa Al-Kazemi, and the chief adviser to the Presidential Office, Ali Shukri, were retained, with the agreement to put forward any other new personality, but on the condition that it be political and independent.

The sources suggested that next week will be a date for announcing the new candidate for the government, especially after the arrival of the Secretary-General of the Iranian Supreme National Security Council, Ali Shamkhani, to Baghdad, and his entry on the mediation line between the leaders of the political blocs to reach an understanding.

The new constitutional deadline in Iraq for the selection of a prime minister ends in the seventeenth of this month, amid a clear difference between the interpretations of Article 81 of the Iraqi constitution regarding the Iraqi president taking over the presidency of the government in the event that the period expires without the appointment of a new president.

The insistence that the chosen personality be politically motivated is due to the inability to bring in a Prime Minister who does not have prior knowledge of the course of the political crisis in the country and its main files, such as the Washington-Baghdad equation, the crowd crisis, the financial public budget for Iraq and its ramifications, and the Erbil-Baghdad Agreement, The file of the elections, as the character of independence is in line with the demands of the demonstrating street, and also to cut off the paths to the reservations of other political forces, Sunni and Kurdish, in the event that the new candidate for the mission to form a government without returning to it.

The jurists of the Iraqi constitution are divided in their interpretation that the Prime Minister has deputies to replace him, while others confirm that the article is clear and talked about the Iraqi President assuming the functions of the Prime Minister temporarily, in the absence or failure of the Prime Minister to carry out his work and the end of the constitutional period without finding an alternative to it.

According to a prominent leader in the Sadrist movement, known to be close to its leader Muqtada al-Sadr, "The list of candidates has shrunk now, and talk has come about the head of the intelligence service, Mustafa al-Kazimi and the advisor Ali Shukri, and every personality there is a political party supporting them to assume the presidency of the new Iraqi government," noting that leaders The blocs confirmed their reluctance to offer any other new name for his research.

He revealed, "The Sadrist movement has no objection to Al-Kazemi or Shukri, and is awaiting consensus and political agreement, but the differences between Shiite political forces among them are what delay the resolution of this file."

He added: "We expect that other names will be offered from specific blocs, but the competition will remain between Al-Kazemi and Shukri. The agreement is now that the new prime minister’s personality is a political figure and a known figure among the political class, applicable to both."

For his part, Saad al-Muttalabi, a leader in the State of Law coalition led by Nuri al-Maliki, said that "the Shiite political forces agreed during the meetings that were held during the past few days on the specifications of the new prime minister, as well as the tasks of his government, before entering into the dialogue in his name."

And between Al-Muttalabi, that "my political and independent qualities are what was agreed upon, meaning that he is not affiliated with any of the major Shiite blocs, and that he has experience in dealing with all forces of various components, and that he does not fall even with what Muhammad Tawfiq Allawi signed, so political experience Very important for the prime minister. "

He added, "It was also agreed that the new government be temporary, and its primary work is to prepare for early elections, and this file will be clear in the government program, which is voted on by the Iraqi parliament."

For his part, Fadhel al-Fatlawi, a member of the Al-Fateh Alliance, said that "according to the current data until Sunday morning, the resolution of a new prime minister’s assignment file will be decided next week, especially since the meetings are continuous and without any interruption to resolve the crisis, with guarantees confirming the passage of The new candidate in the Iraqi parliament, "noting that" the main political forces have reached a conviction that the new prime minister must be a politician with experience in politics. "

Meanwhile, Iraqi political analyst Mohammed al-Tamimi said, "The political class has created a new heresy for the prime minister's personality to be [an independent politician], as she is afraid that this important executive position will go to a person outside of this class."

Al-Tamimi said, "The forces and parties of the authority want a prime minister of the same class, to ensure that he will not open the files that they fear opening or demanding by the demonstrators, and which some political forces condemn, for their involvement in major and serious corruption issues, which have been closed over the previous years, due to the complicity of the forces." Politics among themselves, "according to the newspaper," the new Arab ".
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