For those who can't get on OM, and who don't have access to the forum. I will post here the articles I like for the day and some of my thoughts. Check back later
The Governor of the Central Bank of Iran, Ali Saleh Abadi, confirmed that the foreign exchange reserves recorded the highest level in the history of the bank.
He said in an interview with Iranian TV, and "The Information" followed him, that "the cancellation of the official exchange rate of the US dollar at 42 thousand riyals, would limit the volume of imports, and that continuing to apply it would have increased the volume of exports, imports and smuggling."
He added: "The Ukrainian crisis has increased the prices of basic commodities in the world, and some countries have zeroed in on customs tariffs, and if the payment and coverage of basic commodities at the exchange rate of 42 thousand riyals besides zeroing continues, this will push towards increased supply and smuggling of goods from Iran to the rest of the countries as well as It deals a blow to local production.”
The Iranian official stressed that "the provision of 8.3 billion dollars in foreign currency to cover the imports of basic goods into the country since the beginning of the current fiscal year on March 21, 2022."
Iran.. Abolishing the official exchange rate for the dollar
The head of the Iranian Planning and Budget Organization, Masoud Mir-Kazemi, announced that the official exchange rate set at 42,000 riyals to the US dollar is no longer valid, according to the budget law for the current fiscal year.
Mir-Kazemi explained that all state revenues will be sold according to the exchange rate in the electronic “Nima” organization (designated for the presentation of foreign currency by exporters and selling it to importers).
This comes at a time, when the official price of the dollar was set at 42,000 riyals, allotted to cover the import of basic commodities.
Mirkazemi added that the first phase of the subsidy reform plan does not include bread and medicine, noting that the volume of subsidies for basic commodities exceeds $20 billion annually.
After its implementation in Iran… Is it possible to cancel the dollar exchange rate in Iraq? – Urgent
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, commented today, Wednesday, about the possibility of canceling the dollar exchange rate in Iraq after implementing this step in Iran.
Saleh said in a statement to (Baghdad Today), that “the step taken by Iran means its official exit from the dollar area, whether in settling its foreign transactions with the world or in building its foreign reserves, and accordingly, it will deal with all existing international currencies and will allow the circulation of reserve foreign currencies in various forms, except for the United States dollar.
He added, “Perhaps the exchange rate of the Iranian currency will be based in the future on the currency basket system, excluding the dollar, which means Iran will leave the International Monetary Fund system entirely, in addition to the embargo imposed by the United States on Iran since 2011, which stopped any Iran’s dealings with the world in the currency of the United States of America.”
Saleh added, “Iraq is completely different from Iran, as it is located within the dollar area, and its oil payments and foreign payments are closely linked to the US dollar and to the policy of a fixed exchange rate between the dinar and the dollar only.”
He pointed out that “the exchange rate policy is flexible, as the dinar is linked with other reserve currencies, such as the euro, the Japanese yen, the pound sterling, and others.”
Mahmoud Dagher explains the economic feasibility of removing zeros from the local currency
The economic expert, Mahmoud Dagher, explained the economic feasibility of the project to delete zeros from the Iraqi currency, which is frequent in political and economic circles from time to time, especially in times of inflation.
Dagher said to "Economy News", that "removing zeros does not change the level of inflation because it does not change the money supply or securities," adding that "the state will have to spend money to print a currency equivalent to the replaced currency."
On ways to preserve money during inflation in the markets, Dagher advised capital owners to "invest in fixed assets that are not subject to commercial circulation, such as gold, real estate and fixed assets to keep money from eroding during price increases.
Today, Thursday, the dollar exchange rates witnessed stability in the Iraqi Stock Exchange.
The selling prices of the dollar were 148,250 dinars per $100 while the purchase prices of the dollar were 148,000 dinars per $100.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar.
The Markets:
The Asian markets closed down NIK by 1.77% HSI by 2.24% SHANG by .12%
The UK markets are currently trading in the red from 1.92% to 2.49%
Our futures are currently trading down DOW at 31568 by .55% S&P at 3901.5 by .74% NDX at 11842 by 1.05%
Precious Metals:
Gold is red at 1848 Silver is red at 21.27 Copper is red at 407 Platinum is red at 963
Brent 106 WTI 104 Bitcoin: 27,454 10 yr yield: 2.83
Oil prices fell more than 1 percent today, Thursday, during a volatile week, as economic fears of recession roiled global financial markets, outweighing supply concerns and geopolitical tensions in Europe.
Brent crude futures fell $1.25, or 1.2%, to $106.26 a barrel by 04:03 GMT, and West Texas Intermediate crude futures fell $1.24, or 1.2 percent, to $104.47 a barrel.
Oil prices are under pressure this week, along with global financial markets amid fears of higher interest rates for the US dollar, which is the strongest in two decades, and concerns about inflation and a possible recession, as the prolonged shutdown of COVID-19 has affected China, the world's largest importer of crude.
However, supply concerns stemming from the Russian invasion of Ukraine have boosted the market, with prices rising more than 35% so far this year.
The EU's pending embargo on oil from Russia, a major supplier of crude and fuel to the bloc, could further tighten global supplies, supporting prices.
Mahmoud Dagher explains the economic feasibility of removing zeros from the local currency
The economic expert, Mahmoud Dagher, explained the economic feasibility of the project to delete zeros from the Iraqi currency, which is frequent in political and economic circles from time to time, especially in times of inflation.
Dagher said to "Economy News", that "removing zeros does not change the level of inflation because it does not change the money supply or securities," adding that "the state will have to spend money to print a currency equivalent to the replaced currency."
On ways to preserve money during inflation in the markets, Dagher advised capital owners to "invest in fixed assets that are not subject to commercial circulation, such as gold, real estate and fixed assets to keep money from eroding during price increases.
Saleh: The budget will include good spending for the social sectors
Mazhar Muhammad Salih: The budget will be expansionary and will include good spending for the social and investment sectors
In a statement to the change, Mazhar Muhammad Salih, financial advisor to the Prime Minister, said that the budget for the year 2022 will be expansionary, not contractionary, and will include good spending for the social and investment sectors.
Cut off the street adjacent to the Central Bank building in central Baghdad for 6 days
The security forces intend to cut off the street adjacent to the new Central Bank building in central Baghdad for a period of 6 days, starting tomorrow, Friday.
The General Traffic Directorate said in a statement received by "Dijla", "Tomorrow will witness cutting off the road leading from the Babylon Hotel towards the new central bank building for a period of (6) days, due to the presence of sewage connection works to the bank building."
He added, "The alternative road will be the other side of the road from the Central Bank building towards the Babylon Hotel, used back and forth."
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.
5-11-2022 Intel Guru Bruce [via WiserNow] I hate to say it but when they get the green light from us – they will bring out their new rate and mention the seating of their government – Prime Minister – Parliament – all of that – having been completed and seated...it’s probably been done for a while but they just haven’t announced it yet ...they are operating with a rate in country - they are exchanging with the other countries – in other words they are trading with other countries – and they have a rate - with which they are doing that...we are looking good – Iraq is going to do what they need to do [Wednesday] – and or Thursday – we should get notified...
5-11-2022 Newshound Guru MilitiamanMember comment "It looks of it they have an agreement on the food law too Article quote " Quote 'Except by changing the tools to be able to interact with the new stage.' ..Changing the tools.. As in changing the exchange rate to fit with the new stage they are heading into.. Timing is awesome.. imo.
5-11-2022 Newshound Guru Pimpy Those two managed to work together to get a lot accomplished...If Iraq can manage to get the President Saleh and the Prime Minister Al-Kazemi back as president and prime minister and they form the new government...if that's the case I believe it won't take very long until we see the Iraqi dinar exchange rate change again. It's going to go up in increments but it's going to do it fairly quick IMO... Iraq is in a really great place. It really is... [Post 2 of 2]
5-11-2022 Newshound Guru PimpyIt looks like we might be done with this blockage... Article "Mishaan Al-Jubouri: The independents will present Al-Kazemi as a candidate for prime minister, and we believe he will pass" ...Good news IMO...we learned Saleh is most likely going to be the presidential candidate and Al-Kazemi will be the prime minister. The same two people will continue to move forward for a full term - 4 years... [Post 1 of 2]
5-11-2022 Newshound Guru Kaperoni I have always hoped that Iraq's monetary policy would change according to Iraq's economic development. That they pass the laws necessary to encourage foreign investment, build a thriving private sector, and improve GDP. We have seen numerous articles over the last several months from the World Bank implying Iraq's economy could be the fastest growing in the Middle East.The bottom line is it's up to Iraq to accomplish what is expected of them.
5-11-2022 Intel Guru MarkZ [via PDK] We also learned they have indeed printed and scheduled the release of their lower denomination bills… This is 3 enormous things that came out of Iraq…and all at one time. I told you guys that once this thing was ready- it would all come together at one moment. It appears that is what we are watching happen. Really positive news out of Iraq... [post 2 of 2]
5-11-2022 Intel Guru MarkZ [via PDK] Good article(s) from Iraq today: “Mishaan Al-Jabouri: the independents will present Al-Kazemi as a candidate for Prime Minister and we believe he will pass”; “25 Trillion dinars will be at the governments disposal next week to be spent in accordance of the articles set by the Food and Securities Law“ ...it looks like the 3 parties came together to get the government squared away...I was told they intend to present him tomorrow...and also a consensus on the Food Security act which we were told was crucial for a rate change... [post 1 of 2....stay tuned]
5-11-2022 Intel Guru Frank26 Things are lining up...they are doing everything that we want. For example the ISO. You found out, this is extremely important. Yes, it's important for them to go international but it also was a IMF requirement that they did. All banks by the year 2025 will have to be part of the ISO and get rid fo the Swift. The fact that Iraq is part of it is fantastic.
5-11-2022 Newshound Guru MilitiamanArticle: "Barzani intends to launch an initiative to address the political blockage" Looks like there is more support for interesting times over the next couple days...
5-11-2022 Newshound/Intel Guru RVAlready ...if Sadr cannot get enough independents to elect the president of the republic, he will have parliament dissolved. Either way, there will be a government and an RV by the CBI. This is a win situation for Sadr and a lose situation for Maliki.
Catnip's Corner:
On Hiatus
Smart tricks to lose weight without dieting, including drinking coffee
What happens to the body when walking 10,000 steps a day, and what about brisk walking, and what Pilates exercises, then how to lose weight without dieting, and how do olive oil and milk help in slimming? The answers are in this report...
In its report, published by the newspaper,The IndependentBritish (independent), the writer saidChelsea RachelShe wasn't convinced by the idea of walking 10,000 steps a day, but seeing an app on her mobile phone helped motivate her a little bit to achieve that goal.
On August 9, she finished her first On August 9, she finished her first official day walking 10,200 steps, by which time she immediately overcame her severe migraines and increased the amount of water she was drinking.
In terms of health and fitness goals, I found that walking 10,000 steps a day was actually a realistic and achievable goal for someone who wasn't much interested in exercise before.
The writer reported that her mental health improved significantly and she lost about 15 pounds of weight within 5 months thanks to walking 10,000 steps a day. It also didn't take long for her to feel the positive effects of exercise on her mental health.
Walking improves mental health The author explained that fresh air and the opportunity to be outdoors also had a positive effect on her mental health, while walking allowed her to connect with friends and family.
In addition to her mental health improvement, walking has also had a noticeable effect on her appearance over the past five months, as her legs and arms have become noticeably thinner, and cellulite (fat that collects in pockets just below the surface of the skin) on her thighs has decreased.
The writer added that she noticed invisible changes to her physical health from walking, as it became easy to complete her daily goal, and thousands of extra steps, without feeling physical fatigue.
Fast walking makes you younger And the French newspaper "le Parisian" had published a report by the writer Gilles Lombart about a study published in the journal Communications Biology.BUnited kingdomThey believe brisk walking gives a 56-year-old a biological age 16 years younger than his or her age.
The scientists studied the genetic data of 405,981 Britons, specifically measuring the length of the white blood cells' telomere, the ends of chromosomes that protect other sections, those containing genes, from time-related damage.
As cells divide, these telomeres become shorter and shorter until the cells lose their ability to reproduce. The accumulation of aging cells in the body is thought to contribute to aging and related diseases, so telomere length is a sign of biological age.
The intensity of walking is important for health , and for the first time, a study has found a clear causal relationship between walking speed and the length of white blood cell telomeres, and thus ageing, as the lead author of the study said.Buddy Dempsey"The intensity with which a vigorous walking motion is performed can be important for health, regardless of the total time of exercise."
The researcher suggested that the exercise of sports walking, for example, on the way to the bus stop or on the way to work, moving at a normal pace and not slowly will also have an effect, as brisk walking corresponds to a speed of more than 4 miles (6.4 kilometers) per hour, The slow walk is less than 3 miles (4.8 kilometers) per hour, and the average step is between the two.
What are Pilates exercises? Pilates is a method of exercise that consists of low-impact movements for endurance, muscle strengthening and flexibility. Pilates exercises focus on using the muscles of the abdomen, lower back, hips, and thighs, according to a report byGerman news agency.
Despite the popular belief that this type of exercise focuses on the areas of the abdomen, lower back and thighs, it benefits the entire body, creating harmony between movement and breathing, in addition to the mental relaxation caused by the great focus in the exercise to perform it accurately and correctly.
The name Pilates exercises comes back to its creator himselfJoseph Hubertus Pilates, born inMönchengladbachGerman in 1883, and it is said that he was a sick child, but he was fond of studying the human body.
The German scientist has developed the method of Pilates, and he said about it after 10 hours the trainee will feel the difference, and after 20 hours you will notice the difference, and after 30 hours the trainee will have a new body.
methodsimpleIt is easy and the Pilates exercises are done in an easy and easy waysimpleWhere the trainee begins to put his body in a "prone" position while looking at the ground and extends his arms forward, and his legs back, and the right leg is raised with the left arm at the same time, then changes the situation, and it is better to use a trainer at first.
Drinking coffee , a Harvard University study showed - and transmittedGerman news agencyDrinking two to three cups of coffee throughout the day increases metabolism by 16%, regardless of what a person eats or how much exercise he exercises, and this explains that caffeine activates the central nervous system, increases blood circulation, and enhances movement Intestinal and renal activity.
Olive oil and milk New studies indicate that the oleic acid in olive oil reduces the desire to eat, and milk and dairy products contain linoleic acids, which are elements that stimulate fat metabolism and help in Muscle Building.
Eating regularly Eating regularly keeps your blood sugar levels in check, you don't get too hungry, and you eat a lot of food.
Snack before bed The body can be helped to burn fat even during sleep when the body produces the growth hormone HGH, and in order to be formed, a low-calorie snack must be eaten 1-2 hours before bed, such as 100 grams of yogurt or 150 milliliters of milk or 5 almonds And it helps to get enough sleep in order to produce less ghrelin, which is an appetite-stimulating hormone.
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