The foreign currency markets in Iraq recorded, today, Thursday, a decrease in the exchange rate of the US dollar against the Iraqi dinar.
The selling and buying prices of the dollar in banking companies and offices came as follows:
The selling price of one dollar is 1245 dinars, or 124 thousand and 500 dinars per hundred dollars.
The purchase price of the dollar is 1235 dinars, or 123 thousand and 500 dinars per hundred dollars.
The selling and buying prices of the dollar in banking companies and offices came as follows:
The selling price of one dollar is 1245 dinars, or 124 thousand and 500 dinars per hundred dollars.
The purchase price of the dollar is 1235 dinars, or 123 thousand and 500 dinars per hundred dollars.
Wealthy Shielded Billions With Trump Tax Break Before Pandemic
link
April 29, 2020, 9:01 PM PDT
‘Opportunity zone’ funds have now raised more than $10 billion
Inflows mostly stopped after mid-March when economy shut down
Just before the coronavirus roiled the economy, wealthy investors piled into funds that take advantage of a popular, two-year-old tax break meant to help poor communities.
More than $10 billion in total has flowed into “opportunity zone” funds, a survey released Thursday by tax adviser Novogradac shows. That’s up from the $6.7 billion the group tallied in January. Nearly all of the money was raised before mid-March, when President Donald Trump declared a national emergency to combat the virus.
Just before the coronavirus roiled the economy, wealthy investors piled into funds that take advantage of a popular, two-year-old tax break meant to help poor communities.
More than $10 billion in total has flowed into “opportunity zone” funds, a survey released Thursday by tax adviser Novogradac shows. That’s up from the $6.7 billion the group tallied in January. Nearly all of the money was raised before mid-March, when President Donald Trump declared a national emergency to combat the virus.
The haul could benefit low-income communities during major economic stress and help spur a post-pandemic recovery, Michael Novogradac, the tax adviser’s managing partner, said in a statement.
Investors may be in for a major windfall, too, especially if they sold stocks or other assets at the peak and now get to redeploy the money into real estate or businesses at bargain prices. The program allows investors in projects in roughly 8,700 designated zones to defer or even avoid taxes on capital gains.
Read a QuickTake: Will opportunity zones help rich or poor?
Signed into law by Trump in late 2017 and heralded as a way to revitalize distressed areas, opportunity zones have since been criticized for helping wealthy individuals and corporations lower their tax bills by investing in projects with little or no benefit to the poor. Funds have
April 29, 2020, 9:01 PM PDT
‘Opportunity zone’ funds have now raised more than $10 billion
Inflows mostly stopped after mid-March when economy shut down
Just before the coronavirus roiled the economy, wealthy investors piled into funds that take advantage of a popular, two-year-old tax break meant to help poor communities.
More than $10 billion in total has flowed into “opportunity zone” funds, a survey released Thursday by tax adviser Novogradac shows. That’s up from the $6.7 billion the group tallied in January. Nearly all of the money was raised before mid-March, when President Donald Trump declared a national emergency to combat the virus.
Just before the coronavirus roiled the economy, wealthy investors piled into funds that take advantage of a popular, two-year-old tax break meant to help poor communities.
More than $10 billion in total has flowed into “opportunity zone” funds, a survey released Thursday by tax adviser Novogradac shows. That’s up from the $6.7 billion the group tallied in January. Nearly all of the money was raised before mid-March, when President Donald Trump declared a national emergency to combat the virus.
The haul could benefit low-income communities during major economic stress and help spur a post-pandemic recovery, Michael Novogradac, the tax adviser’s managing partner, said in a statement.
Investors may be in for a major windfall, too, especially if they sold stocks or other assets at the peak and now get to redeploy the money into real estate or businesses at bargain prices. The program allows investors in projects in roughly 8,700 designated zones to defer or even avoid taxes on capital gains.
Read a QuickTake: Will opportunity zones help rich or poor?
Signed into law by Trump in late 2017 and heralded as a way to revitalize distressed areas, opportunity zones have since been criticized for helping wealthy individuals and corporations lower their tax bills by investing in projects with little or no benefit to the poor. Funds have
The Markets: time at 2:30 am Cali Time
The Asian Markets closed up NIK closed up 2.14% HSI closed up .28% SHANG closed up by 1.33%
Futures are currently mixed DOW red at 24405 down by .66% SNP down by .60% NDX up by .16%
Uk markets are trading mostly down but no more then .25%
Precious Metals:
Gold is green at $1718 Silver is green at $15.76 Copper is green at $ 237 Platinum is red at 780 (was green at 776 yesterday)
Brent 25.30 WTI 17.19
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1166.3000 |  1221.5000 | 1192.7000 | 1192.7000 | 1192.7000 | 1.4000 | 06:03 |
| USD/VND | 23063.5500 | 23799.2300 | 23417.2000 | 23405.1100 | 23417.2000 | -10.0200 | 06:03 |
| USD/CNY |  7.0478 | 7.0498 | 7.0820 | 7.0478 | 7.0753 | -0.0282 | 06:47 |
| USD/KWD | 0.3087 | 0.3097 | 0.3093 | 0.3089 | 0.3093 | -0.0002 | 06:47 |
| GBP/USD | 1.2513 | 1.2514 | 1.2528 | 1.2429 | 1.2467 | 0.0046 | 06:59 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 97.5000 | 06:03 |
| USD/IDR | 14970.0000 | 14991.0000 | 15241.0000 | 14877.0000 | 15132.0000 | -169.0000 | 06:57 |
Things in the News:
KEY POINTS
- Oil storage reaching capacity isn’t the only thing that could send prices into negative territory again.
- The Chicago Mercantile Exchange recently raised its margin requirements for forward oil contracts, which could trigger selling when key levels are reached.
- S&P Dow Jones Indices said that all of its commodity indices will roll out of the June oil contract and into July, joining the United States Oil Fund which is also rolling out of the June contract.
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Trading Up Because Casinos Down?
Fed Pledges Aggressive Action as Economic Distress Worsens...
Nashville Mulls 32% Property Tax Hike...
SOAK THE RICH? Most want billionaires to pitch in to aid poverty, inequality...
'Give people back their goddamn freedom'...
Iraqi Articles:
Allawi warns of continued repression and killing of demonstrators and calls for their inclusion in the decision
leader of the National Coalition, Iyad Allawi, demanded today, Wednesday, the involvement of demonstrators, warning of continued repression and killing against them.
Allawi stated in his tweet on the social networking site "Twitter" that "definitely will not be achieved stability by satisfying the demands of peaceful demonstrators who gave lives and bloodshed in order to correct the path.
"
He stressed, "The necessity to deal positively with their demands, and even to involve them in decision-making, because continuing their interviews with repression, killing and mutilation will complicate the situation and will derail the political process from its goals."
Al-Maliki stresses, upon his meeting with Talabani, the necessity of adopting the oil and gas law
The head of the State of Law coalition, Nuri al-Maliki, stressed on Wednesday the importance of continuing the dialogues between political forces to overcome challenges, while stressing the need to approve the oil and gas laws and the distribution of national wealth.
Al-Maliki's office said in a statement received / information /, that "the head of the coalition of state law Nuri al-Maliki received at his office this evening, the deputy head of the Kurdistan Regional Government, Qubad Talabani, and the accompanying delegation."
He added that "during the meeting, they discussed the developments of the political and security situation, as well as the outstanding problems between the region and the federal government."
Al-Maliki stressed "the necessity of continuing the dialogues between political forces to overcome challenges", stressing "the importance of working to issue legal legislations that regulate the relationship between the region and the federal government, especially in approving the oil and gas laws and the distribution of national wealth."
In turn, Talabani conveyed "the greetings of the Kurdish leadership to Nuri al-Maliki," stressing "the keenness of the provincial government to communicate with the political forces and the federal government and to proceed with work based on understanding and agreement, with an emphasis on cooperation to achieve common goals."
The Federal Reserve: The American economy needs more support .. and the Treasury Secretary responds
US Treasury Secretary Stephen Mnuchin announced Wednesday that he is ready to put more money into new lending programs that have been activated due to the Corona crisis, to support the US economy.
This comes as US Central Bank President Jerome Powell warned on Wednesday that the US economy "may decline to an unprecedented level in the second quarter" of 2020 due to the Covid-19 epidemic.
"We do not yet know the size and duration of the economic slowdown, and they are to a large extent subject to the speed of containing the virus," he told a news conference, stressing that the Federal Reserve will seek to ensure "a robust recovery as possible."
To this end, the central bank will use all available tools because the economy "will definitely need more support" than has been provided so far, Powell said.
Treasury Minister Mnuchin revealed that he was holding about $ 259 million out of the $ 2.2 trillion economic package that passed in late March, but he stressed that these funds would not be lending to major companies such as airlines, oil and gas.
And many airlines have already obtained about $ 25 billion from the payroll assistance program, and companies that receive this assistance must keep employees and their salaries until the end of next September.
Online or electronic? A deputy is likely to hold a session of granting confidence mid-next week, on condition
The deputy of the Alliance of Raiders Riyad Al-Masoudi, on Thursday, suggested that the parliament session devoted to voting on the booth of Prime Minister-designate Mustafa Al-Kazimi will be held in the middle of next week in the event that there are no "surprises", indicating that the healthy atmosphere allows the session to be held in attendance.
Al-Masoudi said in an interview with Alsumaria News, "What was agreed almost entirely is the division of ministries on the basis of electoral merit, given that the constitution was clear in talking about achieving a balance between all the components," noting that "the political forces are determined to pass the cab Ministerial on the condition that a cabinet cabinet is provided in accordance with clear criteria for everyone to ensure full support from all or most members of Parliament. "
Al-Masoudi added, "What we believe is that a list of the names of the candidates will be presented during the next two days, which will be presented to the political forces, and then they will be pushed to the bodies of integrity, accountability and justice, and then submitted by an official letter to the Presidency of Parliament 48 hours before the session date to set a date for holding and voting. On it, "indicating:" In the absence of any sudden obstacles and things go according to the current data, a session is expected to be held mid-next week, or at the end of it to vote on the ministerial cabinet. "
Al-Masoudi continued, "The procedures that will be followed by the health side to hold the session, we believe that they will be clear procedures. In the event that the council is not able to hold the session in a prescriptive manner, it is possible to adopt electronic means that can be used by attendance, but in general, the healthy atmosphere allows the session to be held naturally." .
Al-Masoudi added, "What we believe is that a list of the names of the candidates will be presented during the next two days, which will be presented to the political forces, and then they will be pushed to the bodies of integrity, accountability and justice, and then submitted by an official letter to the Presidency of Parliament 48 hours before the session date to set a date for holding and voting. On it, "indicating:" In the absence of any sudden obstacles and things go according to the current data, a session is expected to be held mid-next week, or at the end of it to vote on the ministerial cabinet. "
Al-Masoudi continued, "The procedures that will be followed by the health side to hold the session, we believe that they will be clear procedures. In the event that the council is not able to hold the session in a prescriptive manner, it is possible to adopt electronic means that can be used by attendance, but in general, the healthy atmosphere allows the session to be held naturally." .
Parliamentary Finance: The government must make an amendment to the budget before sending it to Parliament
Member of the Parliamentary Finance Committee, Haneen Al-Qaddo, stressed the necessity for the new government, and if it was formed, to fundamentally amend the budget before sending it to Parliament, pointing out that the budget must set priorities for health and salaries and revive the economy.
Al-Kiddo said in a statement to the agency / Information / seen by Sada, that "the government has several options to get out of the financial crisis by relying on borrowing from the central bank, reducing costs and demanding the regional government for the financial amounts arranged by itself."
He added that "the new government must make fundamental amendments to the 2020 budget before sending it to parliament in order to vote on it."
And that "the amendments to the 2020 budget should prioritize health files and salaries of employees and revive the economy in order to get out of the current crisis," ruling out at the same time, "resorting to reducing and deducting the salaries of employees."
Al-Kiddo said in a statement to the agency / Information / seen by Sada, that "the government has several options to get out of the financial crisis by relying on borrowing from the central bank, reducing costs and demanding the regional government for the financial amounts arranged by itself."
He added that "the new government must make fundamental amendments to the 2020 budget before sending it to parliament in order to vote on it."
And that "the amendments to the 2020 budget should prioritize health files and salaries of employees and revive the economy in order to get out of the current crisis," ruling out at the same time, "resorting to reducing and deducting the salaries of employees."
Abdul Mahdi briefs Al-Kazemi on the file of talks with America
The resigned Prime Minister, Chief Commander of the Armed Forces, Adel Abdul-Mahdi , decided to inform the Prime Minister-designate Mustafa Al-Kazemi of all the files that the government will discuss with the American side.
A spokesman for the Commander-in-Chief of the Armed Forces, Abdul Karim Khalaf, said in a statement reported by the official newspaper Al-Sabah and reviewed by him / the information. The new government. ”
Khalaf added that " Iraq is currently studying all the files that will be discussed with the United States of America and discussing them with the various parties concerned with these files for their maturity and presenting them to the Prime Minister before the start of negotiations."
He pointed out that "the files are not limited to the security side, but also relate to the strategic relationship between the two countries, as well as include the economic, political as well as cultural areas established within the strategic framework agreement."
CBI, ISX,Dinar Guru:
CBI Update: now today APR 30 they went back to 1190,000 as opposed to
Click on the link above for the latest update.
The CBI for rate is 1190.
The currency auction total sales amount $ 165,486,216 Auction held today no cash
ISX Update: Last update 04/30/2020
Shares Traded: 1,235,172,813
Value Traded: 852,466,746
ISX traded ended in red 1.70%
4-29-2020 Intel Guru Bruce Let’s talk about the Iraq Dinar – We had a reinstated rate – we had a revaluation take place last Sunday and we have...a rate – because the CBI website was up and then was taken down by Iraq on purpose – they did not want us to see what that rate is...The rate I understand was at $1.00 – the re-instatement rate – which was on par with the US dollar – and we believe it has elevated well above that rate...we do have the new rate on the bank screens now...our Forex guy – and certain bankers have acknowledged that there is a new rate – We have some idea as to what it is – but we are not at liberty to say - and we are just going to let that play out... I know they revalued – we have people that are directly connected to Iraq that have acknowledged that – so I feel very good about that... [post 2 of 2]
4-29-2020 Intel Guru Bruce [via WiserNow] ...we had heard – about a week ago that we had sort of a deadline or back wall – it appears that we have had a deadline in place for us to get started...we believe that deadline is Thursday – the last day of the month the 30th of April...It should not go beyond Thursday – Of course we know in this anything is possible – we already know that - but we also know they do want to get this thing started and we believe they want to get it started by or on Thursday April 30th... [post 1 of 2....stay tuned]
4-29-2020 Intel Guru MarkZ [via PDK] From my contacts...Zurich is still sitting on “wait”. Iraq is also sitting on “wait” they did not have a new rate this morning.
4-29-2020 Intel Guru Footforward they can vote on their government in December for all we care...We don't hear the CBI ever talk about needing a government to increase the rate...I'm absolutely certain about that one. They have a financial committee that runs the finances with or without a seated government. It's how everyone gets paid right now without a seated government.
4-29-2020 Newshound Guru Pimpy ... We know that over in Iraq...what we're waiting for is Al-Kazami whether he's going to get in there as Prime Minister and he's going to have his cabinet or government and they're gonna get voted in...we also know that in June the UN, IMF and the United States are going to be in Iraq...the article said it wasn't just about military bases...Do you think the United States would just pull out after everything that happened. Like Trump said do you think we will just leave and leave the bases there without getting paid? Looks like Trump is pulling out. This is what they [Iraq] wanted. Did they come up with some type of agreement? Hmmm I wonder. It makes you wonder. Do they have some kind of understanding? Does Trump know something we don't know? Is the rate change finally getting ready to happen?
4-29-2020 Newshound/Intel Guru Walkingstick [via Guru Frank26] ...they are giving them until the 26th of May. A credible government will be formed by May 26th and it's to allow them the time for the formation of a credible government...
4-29-2020 Intel Guru Delta ...[The CEO of the Iraqi Stock Exchange was asked] 'How come the Iraqi Stock Exchange is not going international?' He said very simple, because of foreign currency. Because the Iraqi dinar basically is not international. It's not tradable. It's not recognizable. Which is more confirmation to us...
4-29-2020 Intel Guru Frank26 ...REER - Real Effective Exchange Rate of the Iraqi Dinar ...monetary reform is ready to go. One of the final tuning is REER. They are establishing the Real Effective Exchange Rate of the Iraqi dinar and the reason for it is to counter fractional banking inside their country...
4-29-2020 Newshound/Intel Guru Mnt Goat ...There is still very strong talk (outside of the mainstream news media) that Allawi may still fill the prime minister position as he is the best candidate and fully supported by Mutada Al-Sadr. Remember Sadr won the 2018 election and it’s the reform party that gets to pick the new prime minister not the Iraqi Shiite political blocs. We will see what happens in the last days of Al-Kazemi 30 days period. Yes, this will go down to the wire again and not be decided prior to the final days...
4-29-2020 Intel Guru RayRen98 Al-Kazemi stated on Iraqi TV he will not be pressured and will do what's best for Iraq first. The Kurds and Sunnis have come to an agreement in cabinet selections while the Shiities are still blocking it. Al-Kazemi has until May 8, 2020, to get accepted, if not, the government will be dissolved and await September before all are newly elected.
4-29-2020 Intel Guru Bruce [via WiserNow] ...we had heard – about a week ago that we had sort of a deadline or back wall – it appears that we have had a deadline in place for us to get started...we believe that deadline is Thursday – the last day of the month the 30th of April...It should not go beyond Thursday – Of course we know in this anything is possible – we already know that - but we also know they do want to get this thing started and we believe they want to get it started by or on Thursday April 30th... [post 1 of 2....stay tuned]
4-29-2020 Intel Guru MarkZ [via PDK] From my contacts...Zurich is still sitting on “wait”. Iraq is also sitting on “wait” they did not have a new rate this morning.
4-29-2020 Intel Guru Footforward they can vote on their government in December for all we care...We don't hear the CBI ever talk about needing a government to increase the rate...I'm absolutely certain about that one. They have a financial committee that runs the finances with or without a seated government. It's how everyone gets paid right now without a seated government.
4-29-2020 Newshound Guru Pimpy ... We know that over in Iraq...what we're waiting for is Al-Kazami whether he's going to get in there as Prime Minister and he's going to have his cabinet or government and they're gonna get voted in...we also know that in June the UN, IMF and the United States are going to be in Iraq...the article said it wasn't just about military bases...Do you think the United States would just pull out after everything that happened. Like Trump said do you think we will just leave and leave the bases there without getting paid? Looks like Trump is pulling out. This is what they [Iraq] wanted. Did they come up with some type of agreement? Hmmm I wonder. It makes you wonder. Do they have some kind of understanding? Does Trump know something we don't know? Is the rate change finally getting ready to happen?
4-29-2020 Newshound/Intel Guru Walkingstick [via Guru Frank26] ...they are giving them until the 26th of May. A credible government will be formed by May 26th and it's to allow them the time for the formation of a credible government...
4-29-2020 Intel Guru Delta ...[The CEO of the Iraqi Stock Exchange was asked] 'How come the Iraqi Stock Exchange is not going international?' He said very simple, because of foreign currency. Because the Iraqi dinar basically is not international. It's not tradable. It's not recognizable. Which is more confirmation to us...
4-29-2020 Intel Guru Frank26 ...REER - Real Effective Exchange Rate of the Iraqi Dinar ...monetary reform is ready to go. One of the final tuning is REER. They are establishing the Real Effective Exchange Rate of the Iraqi dinar and the reason for it is to counter fractional banking inside their country...
4-29-2020 Newshound/Intel Guru Mnt Goat ...There is still very strong talk (outside of the mainstream news media) that Allawi may still fill the prime minister position as he is the best candidate and fully supported by Mutada Al-Sadr. Remember Sadr won the 2018 election and it’s the reform party that gets to pick the new prime minister not the Iraqi Shiite political blocs. We will see what happens in the last days of Al-Kazemi 30 days period. Yes, this will go down to the wire again and not be decided prior to the final days...
4-29-2020 Intel Guru RayRen98 Al-Kazemi stated on Iraqi TV he will not be pressured and will do what's best for Iraq first. The Kurds and Sunnis have come to an agreement in cabinet selections while the Shiities are still blocking it. Al-Kazemi has until May 8, 2020, to get accepted, if not, the government will be dissolved and await September before all are newly elected.
Catnip's Corner:
*************
ARTICLE 1 (from PM Mahdi's website; posted only on Arabic side, not on English side)
At the time this report was submitted, there are no new articles posted on PM Mahdi's website.
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.
*************
ARTICLE 3
Al-Morshedy: Al-Kazemi’s confidence-giving session will face many problems
29/4/2020 20:58
[Baghdad-where]
The deputy of the Al-Hikma stream, Asaad Al-Murshidi, confirmed on Wednesday that the session of granting confidence to Mustafa Al-Kazemi will witness many problems between the political blocs.
Al-Murshidi said in a press statement that "the assigned Mustafa Al-Kazimi will face many problems in the session of granting confidence, especially since the scene is currently witnessing a crisis with the region related to salaries and oil, in addition to the current crisis inside the Sunni house, as well as the Shiite dispute over the return of some ministers in the Al-Kazemi government."
And the responsible mentor called for the necessity of overcoming this mood and achieving the interests of the country and the people above the mood of political parties and blocs.
And the responsible mentor called for the necessity of overcoming this mood and achieving the interests of the country and the people above the mood of political parties and blocs.
*************
ARTICLE 4
Al-Kaabi will chair a meeting tomorrow to study the ministerial curriculum
29/4/2020 21:20
[Baghdad-where]
First Deputy Speaker of Parliament Hassan Karim Al-Kaabi will chair a meeting tomorrow, Thursday, to study the ministerial curriculum of Prime Minister-designate Mustafa Al-Kazemi.
The Prime Minister-designate Mustafa Al-Kazemi signed the ministerial curriculum book for his government and sent it to the presidency of the House of Representatives, and that "the names of the candidates will be sent to the cabinet within the constitutional period to determine the voting session."
For his part, Speaker of Parliament Muhammad Al-Halbousi announced today, Wednesday, that he received the ministerial curriculum presented by Al-Kazemi, saying: “Based on the provisions of Article (43 / Second) of the Parliament’s Law, it was decided to form a committee headed by First Deputy Hassan Al-Kaabi and the membership of a number of deputies and advisors; To study the ministerial curriculum and to report to the Council on it.
*************
ARTICLE 5
Deputy: Al-Kazemi will present his booth next Sunday, free of defense, interior and finance
29/4/2020 20:26
[Baghdad-where]
The deputy of the Al-Fateh Alliance Fadel Al-Fatlawi confirmed on Wednesday that the Prime Minister-designate Mustafa Al-Kazemi will present his ministerial cabinet to the House of Representatives next Sunday.
Al-Fatlawi said in a press statement, "Al-Kazemi will present a missing booth to the House of Representatives next Sunday after sending the government program today to the House of Representatives."
He added that "the ministerial cabinet will be free from the interior, defense and finance, and may include the Ministry of Youth and Sports," noting that "these ministries will be passed after obtaining the political agreement between them and the forces within the parliament."
And the Prime Minister-designate Mustafa Al-Kazemi announced today, Wednesday, that he has sent his cabinet’s platform to the Presidency of the Parliament.
He added that "the ministerial cabinet will be free from the interior, defense and finance, and may include the Ministry of Youth and Sports," noting that "these ministries will be passed after obtaining the political agreement between them and the forces within the parliament."
And the Prime Minister-designate Mustafa Al-Kazemi announced today, Wednesday, that he has sent his cabinet’s platform to the Presidency of the Parliament.
*************
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