News, Rumors and Opinions Monday Morning 9-14-2020
TNT:
Tishwash: After the appointment of a new governor of the Central Bank … the vice-relationship requests retirement, and the general manager applies for a one year leave.
An informed source revealed, on Monday, that Munther Abd al-Qadir Muhammad Darwish al-Sheikhly, Deputy Governor of the Central Bank, Ali Al-Allaq, had submitted a request to refer him to retirement, indicating at the same time that the director general of the bank’s administrative department had submitted a request to grant him a one-year leave.
The source said in an interview with (Baghdad Today), “The Director General of the Administrative Department at the Central Bank submitted a one-year leave request,” adding that “the Deputy Governor of the Central Bank submitted a request to refer him to retirement.”
The source added, “This came after the appointment of Mustafa Ghaleb as the new governor of the Central Bank.”
Earlier in the day, Prime Minister Mustafa Al-Kazemi made changes to senior positions, the most prominent of which was the appointment of Mustafa Ghaleb Al-Kitab as governor of the Central Bank instead of the previous governor, Ali Al-Alaq. link
Tishwash: The Council of Ministers holds an extraordinary session to discuss the budget
Prime Minister Mustafa Al-Kazemi presided over the extraordinary session of the Council of Ministers, to discuss the fiscal budget law.
The Prime Minister’s Office is scheduled to announce the meeting’s decisions later today.
And it announced earlier that the General Secretariat of the Council of Ministers had received the draft 2020 budget.
Today, Monday, Prime Minister Mustafa Al-Kazemi chaired an extraordinary session of the Council of Ministers, to .discuss the 2020 Budget Law
The media office of the Prime Minister said in a statement received (Baghdad today), that "Al-Kazemi chaired an ".extraordinary meeting of the Council of Ministers to discuss the state budget law for the fiscal year 2020
Earlier today, Monday (September 14, 2020), an informed government source revealed that the Iraqi Council of Ministers would hold a special session in order to vote on the 2020 Budget Law, and send it to the House of . Representatives
The source said in an interview with (Baghdad Today), "The Council of Ministers will hold a special session to vote on ". the 2020 Budget Law, at one o'clock in the afternoon, and the session will be dedicated only for this purpose
He stated, "There is a prior agreement between members of the Iraqi Council of Ministers to vote on the 2020 budget law, during today's session, and send it to the Iraqi Council of Representatives, with the aim of speeding up the ". approval of the law
Earlier, a parliamentary source revealed special details about the 2020 budget, which Parliament intends to discuss, after its approval by the government, especially with regard to appointments, the 5-year leave and end-of-service bonuses. link
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Cutebwoy: Parliamentary Finance: The Kurdistan government is satisfied with its share in the federal budget
Baghdad / Al-Akhbariya:
September 13, 2020
MP for the National Union, a member of the Finance Committee, Sherwan Mirza, confirmed, on Sunday, that the Kurdistan region is satisfied with its share in the fiscal budget for the year 2020.
Mirza said that the percentage of the Kurdistan region in the federal budget for the year 2020 is 12.67, about 12 trillion Iraqi dinars.
He added: The draft financial budget bill has not yet reached the House of Representatives, pointing out that the Council of Ministers will hold a meeting on Monday on the special budget for 2020, and then the project will be transferred to the House of Representatives.
He stressed that the Kurdistan Region is satisfied with its share in the fiscal budget for the year 2020, noting that the salaries of the Peshmerga rose in the 2020 budget to 76 billion dinars, meaning that the annual allocations of the peshmerga salaries are 912 billion dinars.
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Courtesy of Dinar Guru
Jeff ...Iraq can only pay [contracts with the Iraqi dinar]. For example I told you that they signed that contract with GE for 1.2 Billion dollars. Because of Article VIII Iraq can only make payment with their currency - the dinar. They cannot use the US dollar. So in order for them to make payments... their currency has to be internationally recognized. GE is not going to accept payment with a non-internationally recognized currency. So anybody receiving payment from Iraq, the Iraqi dinar must be internationally recognized to receive those payments...
Jeff Why is Iraq in the process of approving a 3-year budget? Why 3? Why no just the '21 budget? It's because of the reforms. They told you the reforms can only be implemented in stages and phases. So they can only implement the reforms over an extended period of time. They're showing you they're starting the reforms in this year of 2020 - in the second half of the year...they're going to span the reforms over almost a 4-year period...from 2020 through '23...
NYSE Prepares To Shut Down NJ Operations Over Proposed Tax, Mass Exodus Of The Wealthy From The US
Silver Report Uncut: Sep 13, 2020
The NYSE has made it incredibly clear they will not be subject to any new taxes on trading just because NJ is broke.
The NYSE issued a statement about current operations designed to ensure a smooth transition from NJ to any other state where they have databases.
It looks like the current plan is to test run moving trading to NYSE Chicago to prove they can transition operations from NJ in a business day and they won't be subject to any new taxes on high-speed trading just because the state is broke.
States have been planning how to make up the budget shortfalls and many states were really pushing the state bankruptcy card early in this recession so you know state finances can't be too healthy for some.
Increasing taxes on the wealthy has been another suggestion being floated in a few states and Californias wealth tax would be retroactive including those who fled the state in the last 10 years.
The wealthy have begun leaving the US is what looks like the beginning of a mass exodus of the wealthy from the United States.
They cheer as everything breaks but they don't plan to stick around to watch it fall.
This trend may really begin to accelerate with all these new tax suggestions floating about.