Friday, September 11, 2020

WOTS FRI SEPT 11 2020

WOTS FRI SEPT 11 2020 







The Markets:
Asian markets closed up NIK by .74% HSI by .78%  SHANG by .79%
The UK markets are currently trading mixed 2 are in the green  at .31% and .53% the others are down  from .22% to .43%
Our markets are currently trading in green the DOW at 27616 up by .69%  SNP  at 3359 up by .88% NDX at 11281 up by 1.04%

Precious Metals:
Gold is red at 1944  Silver is red at 26.99  Copper is green at 303  Platinum is green at 935
Brent 39  WTi 37

Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1168.7000  1219.4000 1192.8000 1191.7000 1192.8000  0.1000 13:22
 USD/VND  23174.0000  23178.0000 23176.6500 23176.0300 23176.6500  -0.8300 00:12
 USD/CNY  6.8340  6.8360 6.8381 6.8328 6.8328  0.0006 05:16
 USD/KWD  0.3055  0.3065 0.3055 0.3055 0.3055  0.0000 05:05
 GBP/USD  1.2788  1.2789 1.2861 1.2763 1.2804  -0.0017 05:16
 USD/IRR  42000.0000  42210.0000 43011.9000 43011.9000 43011.9000  -43.1000 04:44
 USD/IDR  14977.0000  14977.0000 15046.0000 14855.0000 15044.0000  -68.0000 05:15

Things in the News:
Stock market detached from economic reality. Reckoning coming?

Jobless claims show 'red flag'...

PEW: Share of young adults living with parents higher than Great Depression...

Welfare, Tax Rules Keep Working-Class From Marrying...
 

Trump extends state of emergency due to "risk of foreign interference in elections"
Thursday, it was indicated that the state of emergency that was declared on September 12, 2018 will remain in place after September 12, 2020 for another year. 
200 FIRES RAGE ACROSS WEST...
OUT OF CONTROL: California's growing bigger, moving faster...
Rarely have so many been exposed to such unhealthy air...
Los Angeles suffers worst smog in 30 years...
  

 Iraqi News:

A third party in the square" ... An activist reveals a meeting in Erbil to repeat the "October 2019" scenario

link      Remember that article from yesterday?
here is an image of the sign they are posting
This is what it says
Our date / 2020 - accountability for corruption and confiscation of its money - accountability for the killers of the demonstrators 2- Confining weapons in the hands of the state.  Completion of the legislation of the October Fair Election Law۔  The date of the revolutionaries 

 Video running on TV Payroll Insurance Baghdad Observers: The salary crisis is returning again ... and the Al-Kazemi government is in trouble 

"Months without salaries." Will the 2021 budget guarantee the disbursement of electricity contracts dues?

link

The Parliamentary Oil and Energy Committee confirmed on Thursday that it was following up on the delay in the payment of contract and wage stipends in the Ministry of Electricity, pledging that these salaries will be paid monthly as part of the 2021 budget bill.

"The parliamentary energy committee is in constant contact with Electricity Minister Majid Hantoush and the ministry's staff in order to pay the dues and salaries of contract and wage employees in the ministry, which has been delayed for months," committee member Amjad al-Assari told Shafq News.

"The salaries and benefits of contract and wage employees will soon be paid through the central levy and in the decision of the Council of Ministers," he said.

On the transfer of their contracts, al-Ashari explained, "The cabinet's recent decision on all employees contracts and wages in the Ministry of Electricity from investment to operational, to include their salaries and to be disbursed monthly within the draft general budget law for 2021."

The contract holders at the electricity ministry have staged strikes in Basra, Maysan and Dhi Qar provinces on several times to protest against the non-payment of their salaries for nearly eight months.

While their colleagues also demonstrated in Samawah, others in several provinces warned against full-scale strikes until a solution to the crisis, which has left thousands of families without their livelihood, has been resolved.

On August 24, the Federal Integrity Commission announced the issuance of a recruitment order against former Minister of Electricity Louay Al-Khatib and the director general of the ministry's administrative department, and banned them from traveling, because of suspected irregularities in the ministry's contract with 82,555 agers per day without the need for their specialties, which cost the ministry's budget 43 billion dinars per month.

Since April 2020, the Ministry of Electricity has been unable to pay the salaries of some 90,000 contract and wage employees appointed under former minister Louay Al-Khatib, who has repeatedly said he is working to "solve this problem."


Oil is declining again and Brent is reading below $ 40

link

Oil prices fell today, Friday, and Brent crude reached a reading below $ 40 a barrel, amid increasing investor concerns about a recovery in demand for crude.
By 07:48 Moscow time, Brent crude futures were down 0.37% to $ 39.91 a barrel.

Last Tuesday, Brent fell below the level of $ 40 a barrel, for the first time since the end of June 2020.

While US light crude futures fell 0.27% to $ 37.2 a barrel, according to the trading.

Markets are still concerned about the impact of the Corona crisis on the oil markets, as the crisis continues to put heavy pressure on fuel demand.

Investor pessimism about the recovery in demand increased after the US Department of Energy announced Thursday an unexpected increase in the commercial oil reserves of the United States, as reserves rose in the week ending on September 4 by two million barrels and amounted to about 500.4 million barrels, while analysts expected an increase of 1.3 million barrels .


CBI, ISX,Dinar Guru:

CBI Update:  Just  a note:
They have been having auctions and the ISX has been trading regularly the sites just don't update in time to put the information in this report, unless it is 
here.   
 
Click on the link above for the latest update.

The CBI for rate is 1190.
 The currency auction total sales amount $ 0. Friday 

  including   $ 0. Friday 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

https://www.dinarguru.com/

9-11-2020   Newshound/Intel Guru Mnt Goat   Many...gurus tell you that Iraq must first build a robust economy and create a demand for the dinar. But how does this happen if they keep Iraq in a sanction like isolation and status. It is time to break Iraq out of these sanctions and go global. We know it and they know it. So, what comes first the economy or the currency? Is the currency reform an important part to kick start the economy?   Yes, it is.   [post 1 of 2....stay tuned]
9-10-2020   Intel Guru RayRen98   Iraqi TV is stating that the economic and financial reform papers will be presented to Parliament at the end of September.  PM Al-Kadhimi's visit to Kurdistan was a key factor in relations between Kurdistan and Baghdad.

9-10-2020   Newshound/Intel Guru RVAlready 
  I think Kazemi intends to bypass parliament on the RV, as they are mostly corruptHe will send them a copy of the white paper to read, but that is all the power they will get. They will be voted out of office next year, and many arrested for corruption. IMO.

9-10-2020   Newshound Guru Pimpy  ...nobody knows what the rate's gonna be.  Nobody.  I've had people approaching me about some of the most ridiculous things I've ever heard - $4.00, $5.00, $10.00 for the rate exchange...there are reason to speculate about a particular rate.  I've used past articles.  I've used past CBI meeting readings.  I've used past discussions between the government about the rates that they have discussed to try to get an idea but nobody knows the rate.  So you guys just slow down a little bit.  I understand it's exciting.  It is very exciting.  We have not seen any kind of real discussion on anything to do with the dinar in quite some time but...they came out and said 'look one of the things that have to be taken into consideration is we have to do something about this rate so we could be competitive on an international scale' - for the record Pimpy said that months ago... [Post 2 of 2]

9-10-2020   Newshound Guru Pimpy ...I know yesterday's news was pretty exciting but...we need to just take a deep breath and slow down...Both budgets [2020 and 2021] are going to be submitted at the same time.  Very very interesting...we saw the news article yesterday it was implied that a rate change must be considered in this paperwork...that doesn't mean anything other than it's being considered. Okay slow down a little bit.  Like I said when we're investing don't get overly excited when it's good news and don't get overly down when it looks like negative news.  There's reasons to be excited, plenty of reasons but I don't want people to get overly confident...that's important for us to say grounded.  It's a low risk high reward situation but there's no guarantees on any investment... [Post 1 of 2....stay tuned]

9-10-2020   Newshound Guru Adam Montana   Article:  "The regional government delegation arrives in Baghdad to discuss the budget"   ...a short summary:  Budget, and HCL. There is a LOT of information in that...that is related to HCL. I mean...it's almost ALL HCL.  Smothered in Budget sauce.  And that is an amazing thing.  ...wait in frustration, or patiently knowing what's coming... Iraq can do a lot to change how we remember this Year...GOOOOOO RRRRRRVVVVV!!!

9-10-2020   Newshound Guru Jeff    Article:   "Parliamentary Finance: The government's economic reform paper will be presented at the end of this September"  ...If, I'm not saying they are...this is my opinion...if their plan is to change the rate in the month of September they cannot do it at the very end of September...they would have to do it more around September 20th and leave some wiggle room at the end of September...because they need to leave about 10 days around the end of September to work on the budget and...work on the reforms...

9-10-2020   Newshound Guru MilitiaMan  They...tell us they have a session for  (Thursday the 10th).  Same day that PM Kadhimi is to be in the Kurds back yard for a meeting on important issues, oil and gas, customs and borders, etc..  Same day... that Al- Hakim is having think tanks gearing to talk about rebuilding the new social contract and rebuilding the state. Lets still keep in mind Kadimi, has a special session for the start of next week to approve the 2020 budget. Which is  looking to be the next one on the table. imo.  (Thursdays) session maybe be a very powerful one that could change the playing field. We shall see if it is a "September to Remember" but, it sure looks like a synchronization is in play now not in 2021, as they say "next"  and that is now real close...imo.   [post 2 of 2]

9-10-2020   Newshound Guru MilitiaMan  Article:  "The House of Representatives has finished reading two laws and addresses an oral question to the Finance and Planning Ministers"  Quotes:  "...to begin its implementation, in addition to the necessity to devise a real reform plan to address the delay in implementing projects..."; "...as well as knowing the value of the exchange rate specified in the next budget..."  The picture they are painting (imo) is they are implementing the real reform plan.  They are even going so far as to tell us that they will need the value of the exchange rate for the next budget They have not resolved the next budget yet, that I am aware of? The next budget on the table is the 2020 budget leading into the 2021, imo.  [post 1 of 2....stay tuned]

9-10-2020   Intel Guru MarkZ   [via PDK]   We have a lot of bankers…everybody sitting and ready. But no money movement yet...because of their position the bankers are all forced to be ready. They have no choice even though it seems like “The boy who cried wolf” but to be ready for when the release happens. Unfortunately its been an entire week of “Groundhog day”...We are all just waiting for the “go”... Waiting for the shoe to drop… The news out of Iraq is still very encouraging as they are on the brink of passing that final budget with an amount in it. There is a whole lot happening as we watch it all roll out.  

9-10-2020   Newshound Guru Jeff ...I think a lot of the news is scripted and rigged.  In other words they're much farther along than they're telling you the truth on.  Notice how Kurdistan and Baghdad are now magically ready to reach a comprehensive agreement at the exact same time and almost the exact same week that they're ready to start the approval process of the budget That's a little too coincidental...things are coming together too nicely at this point in time.

9-10-2020   Newshound Guru Adam Montana  Time goes by, and we can be impatient with it...or we can know what is coming.  Last week, I ended the Weekly update with a mention of how everything was going great, and there was no bad news. That continues this week... with the exception of OIL.  The projected budget is based on $40 OIL, and WTI is currently sitting at $37.98 - but heading north again. Problem? I don't think so. This is the first dip we've seen in months, and it's not likely to last. In fact, the price trend should continue upwards. Not fast or drastic enough to hurt us terribly at the pump, but enough to inspire confidence and not scare anyone away from increasing the value of the dinar...

9-10-2020   Newshound Guru Pimpy   Article: "The Minister of Finance stresses the necessity of reviewing the exchange of the dinar and reveals the size of the external debt" ...we don't know what the rate change is going to be we just know that the rate change is going to be part of the reform papers and it's going to be part of the 2021 budget...it looks like we're finally here.  They're actually saying it.  This is the first time we heard anything about exchange rates in quite some time....it looks like we have some kind of a window.  It seems between now and the end of this year we will see something happen...

Catnip's Corner:
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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mr. Mustafa Al-Kazemi meets with the President of the Kurdistan Regional Government, Masrour Barzani

The Prime Minister, Mr. Mustafa Al-Kazemi, today, Thursday, during his visit to Erbil, met the President of the Kurdistan Regional Government, Mr. Masrour Barzani, in the presence of a number of officials in the regional government.

At the outset of the meeting, the Prime Minister said: The experience of security cooperation and integration in the performance of the armed forces in the face of the terrorist ISIS has strengthened national unity and made victory possible.

His Excellency also made clear that the sovereignty of Iraq is the word that unites us as Iraqis, and there is no room for neglecting it, indicating that the opportunity is now available to strengthen joint action and provide the best effort that serves the Iraqi citizen, as well as accelerate the pace of preparation for holding early elections, in a way that secures the best honest expression of the people's voice. Al-Iraqi and his real choices.

For his part, Mr. Masrour Barzani expressed his happiness at the meeting, and indicated that the regional government aims to resolve all outstanding issues, and that he is looking forward to consolidating long-term solutions and supporting the efforts of Mr. Al-Kazemi's government seeking reform in all areas.

Media Office of the Prime Minister
10-Sep-2020

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

Prime Minister Mustafa Al-Kazemi meets with Mr. Masoud Barzani and a number of officials in the Kurdistan region

The Prime Minister, Mr. Mustafa Al-Kazemi, met today, Thursday, in Erbil, the President of the Kurdistan Democratic Party, Mr. Masoud Barzani, in the presence of a number of officials in the regional government.

The meeting witnessed a discussion of the overall general situation on the national arena, the most prominent challenges in the country, the unification of positions at the national level, as well as the file for holding early elections.

During the meeting, Mr. Al-Kazemi stressed Iraq's actual need for reform, and for national action to be priority to cross the country over the current challenges.

His Excellency indicated that the high-level coordination between the various armed forces and the Peshmerga helped to make victory over ISIS terrorist gangs, and he is the one who will protect the land and secure the opportunity for prosperity and development for the country.

The Prime Minister also indicated the importance of integration in the positions between the federal government and the regional government, and stressed that the Kurdistan region is an integral and essential part of Iraq, and the dialogue and the constitution are the tent that secures a secure future for a unified and stable Iraq.

He pointed out that the opportunity is now available to raise the level of Iraqi action on the international scene, in order to enhance Iraq's position among nations.

For his part, Mr. Masoud Barzani expressed his happiness at the visit of the Prime Minister, stressing his sovereignty the availability of intentions for everyone, to make efforts in reform and resolve the outstanding issues between the federal government and the regional government.

Media Office of the Prime Minister
10-Sep-2020

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

Prime Minister Mustafa Al-Kazemi visits a number of schools and reviews the conduct of the examinations in them 

Today, Thursday, the Prime Minister, Mustafa Al-Kazemi, made an inspection visit to a number of schools in the capital, Baghdad, and was briefed on the progress of the exams for the sixth preparatory students.

Where he visited his sovereignty
Examination centers in each of the Mansour Foundation School and Baghdad Prep for Girls, and wandered into the examination halls, where his children from the sixth preparatory students sit for the baccalaureate exams, and see the conditions of prevention recommended in the examination halls.

His Excellency urged the administrators of the examination centers to provide a comfortable environment for students to take the exams, and to take into account the sanitary condition by adhering to all preventive measures to protect them from the Corona virus.

His Excellency wished success for all Iraqi students who were keen on their future and were determined to perform their examinations under all circumstances. He also thanked the teaching staff who carry out their duties in organizing the examination process to the fullest, and for their concern for the future of students.

Media Office of the Prime Minister
10-Sep-2020

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Other headlines:

Prime Minister Mustafa Al-Kazemi visits one of the sites of the Anfal crime during his visit to the Kurdistan region 9-10-2020

Prime Minister Mustafa Al-Kazemi inspects the Qadia camp for internally displaced people in Dohuk Governorate 9-10-2020

Prime Minister Mustafa Al-Kazemi inspects the Ibrahim Al-Khalil border crossing in Zakho, Dohuk Governorate 10-9-2020

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ARTICLE 2 (from Government of Iraq twitter account)

PM @MAKadhimi underscored that Iraq’s sovereignty is what unites Iraqis, and that there is now an opportunity to deepen cooperation to better serve all citizens, prepare for early elections and ensure that they reflect the true will of the Iraqi people.
PM @MAKadhimi arrives in Erbil, and holds a meeting with @masrour_barzani
and other officials in the Government of the Kurdistan Region of Iraq, says the close coordination between all parts of the Iraqi armed forces during the war against Daesh strengthened national unity.
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ARTICLE 3

Parliamentary Finance reveals important information about the results of Al-Kazemi's visit to the region

 9/10/2020 21:13 • 
+ A8 P [Baghdad_Where]
The Parliamentary Finance Committee revealed, on Thursday, important information about the results of the visit of Parliament Speaker Mustafa Al-Kazemi to the Kurdistan region.
Committee reporter Ahmed Al-Saffar said, "Al-Kazemi's visit to the Kurdistan region is very important and came on time, because there are pagan visits by Kurdish delegations to Baghdad," referring to "reaching good solutions to problems that have been pending for years, especially in the issue of ports, salaries, and Article 140."
He added that "the region will pay them to the share that is determined from the oil in exchange for the federal budget," pointing out "the agreement on the main headlines, including the delivery of a quantity of oil to the [SOMO] company, and another amount remains to be paid to the producing companies, transport fees and others."
Al-Saffar announced, "It was agreed to hand over 50% of the region’s revenues to the federal government in accordance with the Financial Management Law, Article [29] for its four paragraphs."
The reporter of the Parliamentary Finance Committee concluded his speech by saying, "The problems between Baghdad and Erbil are old and unresolved, and in them are related to public money and there are rights and obligations," noting that "as long as the two parties applied to the constitution and the Financial Management Law, of course, there will be logical solutions between the two parties."
And arrived Prime Minister Mustafa Al-Kazemi, on Thursday morning, to the Erbil governorate in the Kurdistan region.
During his visit to Erbil, Al-Kazemi met the President of the Kurdistan Regional Government, Masrour Barzani, in the presence of a number of officials in the regional government.
Al-Kazemi said during the meeting, that the sovereignty of Iraq is the word that unites us as Iraqis, and there is no room for abandoning it, indicating that the opportunity is now available to enhance joint action and provide the best effort that serves the Iraqi citizen, as well as accelerate the pace of preparation for holding early elections, in a way that secures the best honest expression of The voice of the Iraqi people and their true choices.
Al-Kazemi also inspected during his visit to the region, Ibrahim al-Khalil crossing in the Zakho district of Dohuk governorate, and met with a number of officials in it, familiarized with the workflow, customs and tax procedures, and their mechanisms at the important border crossing

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ARTICLE 4

A deputy reveals a relationship between the visit of Al-Halbousi and Al-Kazemi to Erbil

 9/10/2020 22:02 •
[Baghdad-Where]
MP Mazen Abdel Moneim Al-Faily revealed, on Thursday, the relationship between the visit of Parliament Speaker Muhammad Al-Halbousi and Prime Minister Mustafa Al-Kazemi to Erbil.
Al-Faili said, "Al-Kazemi's visit today to the Kurdistan region, and before that, Al-Halbousi's visit centered on reaching a unified agreement on the shape of the electoral districts."
He stressed, "The intensification of meetings and dialogues regarding electoral districts, in addition to the continuing discussions of the political forces to come up with a consensus formula that is satisfactory and fair for all."
And arrived Prime Minister Mustafa Al-Kazemi, on Thursday morning, to the Erbil Governorate in the Kurdistan region.
During his visit to Erbil, Al-Kazemi met with the President of the Kurdistan Regional Government, Masrour Barzani, in the presence of a number of officials in the regional government.
Al-Kazemi said to Barzani, that the opportunity is now available to strengthen joint action and to make the best effort that serves the Iraqi citizen, as well as to accelerate the pace of preparation for holding early elections, in a way that secures the best honest expression of the voice of the Iraqi people and their true choices.

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ARTICLE 5

Iraq proposes to hold an OPEC meeting in Baghdad in December

9/10/2020 12:40 •
Where's News_Baghdad

A source in the "OPEC" organization revealed that the countries of the organization could hold a directmeeting (face to face) in Baghdad early next December, on the occasion of the sixtieth anniversary of the founding of the organization.

The source added to the Russian "TASS" agency, that the meeting could be held in the Iraqi capital if the epidemiological situation in the world improved, and the restrictions imposed on border crossings were lifted.

The proposal to hold the meeting in Baghdad on the fourth of next December was presented by Iraqi Oil Minister Ihssan Abdul-Jabbar in his letter to OPEC Secretary General Muhammad Barkindo.

The organization countries were supposed to hold the meeting in Baghdad this September, but it was decided to postpone it due to the Corona crisis.

The Iraqi minister said in his message, "Preparations for the meeting require several months to be organized, but due to the epidemic and restrictions, the scheduled meeting was postponed in September, so we suggest holding the meeting on December 4 in Baghdad."

The source indicated that the decision to hold the meeting will be taken after the improvement of the epidemiological situation in the world.

And the "OPEC" organization includes eleven countries that depend heavily on their oil exports to achieve their income.

The organization was established in Baghdad in 1960, and at that time it included Saudi Arabia, Iran, Iraq, Kuwait and Venezuela, and the headquarters of the organization was located in Vienna.
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