MilitiaMan and KTFA Members Sunday Night "Smalls, Stock Markets and Banks " 4-21-19

4/21/2019
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KTFA:

MilitiaMan:  Let’s take a peak at what we all know now. You guys brought in articles that support they are opening the 2019 budget. This comes at the beginning of the next week of financial inclusion to begin on the 25th - 30th.

Financial inclusion is nothing new, as it has been a work in process for years and as far back as 2014 yet more importantly since 2016. They are finishing up as they were to give awards during the financial inclusion day the 25th.

The reaming days are possibly for to educate on new products and new products to me are not new if at a program rate. That would be nothing new.

Why do I bring that up? Well we all know that since the Financial Management Law is enacted and has been since 01/13/2019. In that document the law reads that if there is a surplus in any year that that money overage goes to the em betterment of the citizens specifically. It goes on to say when it has to be reported and that was by the 10th after the first quarter is up.
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The reports that the CBI has to give the IMF will include the data on the budgets of both 2018 and first quarter 2019. Therefore, it is my opinion those calculations will be in the report now. As, that data is past tense and done. Just as they now talk about allocating monies for projects out of that budget.

We all may ask why don’t we see the new rate yet? If it is in the budget and there using it why don’t we see it yet? It is my view as they can’t and won’t until they get the citizens prepared.

Well then why have they not done that yet? They, have and are as we know that since 2016 financial inclusion has been a work in process for years and that equates to many many things. Advanced systems with speed, ease of use, reliability, transparency, etc.. E-government and E- Banking are all in effort to benefit the citizens.

Those things are clearly now in place and ready. They had to be at this stage of the implementation phase of the monetary reforms.

We were just told they have had had record deposits from the citizens since 2014 this years is on record to be the highest since. That means the citizens are on board with it now.. They have confidence in the new systems in place and are now coming in in record numbers to get what they have been told!

Why and how do they know this time is will work and they won’t be stolen from?

The education and help of the association of private banks and the Iraq Trade Bank having been a key representative Bank for upwards of 430 banks in the region and being profitable in foreign exchange. (Outside the IQD.)

Now don’t jump off the cliff just yet ..lol They we’re making money with other foreign currency from the regional areas. Now. They tell us they have an international branch coming mid May in Riyadh Saudi Arabia.. Is that a back wall? I personally am not of that view. I am not out of April. I am of the mind that office boy has suggested and held is opinion that watch 19-22nd April.

So far we have in the time frame mentioned been told the citizens have record numbers in deposits and we even see them telling the citizens they implemented small groups and will have all groups for to facilitate trade for the citizens and shop owners..

Now if you all read the notes from last nights Q n A you’ll see Frank disagrees with me on my assessment of the small category being implemented now.

He states it for to replace worn out notes, however, that is not what the article states at all. Imo Post 188 of Deltas yesterday early thread and my post in early today’s thread highlights along with reference to Final Article 93 where they speak of ease of use effectively.

So, I believe I may be correct and Frank may have told me no as to possibly slow me down as it is for another call. That may or may not be the case, but, the way I read the post from delta is that I am correct and they are now implementing the smalls and for them to show the rate in the budget they’ll need the smalls in place.

They are bringing in money to deposit and exchange for newer or fresher 250, 500s and 1000s. Yes, I can agree with that however, the article says All Groups!!

Regardless, we are going to find out soon enough and imo before they get done with financial inclusion. Financial inclusion is going to be for atta boys for the best bank that gets the most deposits. and products sold , etc.. They said they will be given awards.. Again, my view is the new products will have had to be show cased prior to the end.. That is by 04/30/2019..

I believe it is still more likely to be before they finish the 25th..

I am very pleased with where we are as we all should be!! God Bless you all.. Peace on this Awesome day.

Sunkissed:   Once again MM -- GREAT POST! Very well laid out.

I know these posts take a lot of time and thought to put everything in sequential order so we can all follow the bouncing ball and for that dedication of time I THANK YOU!  ** I know you don't do this for yourself, as it is a selfless labor so no-one will be left behind.

If I may, I would like to comment on a couple of your salient points:

"We were just told they have had had record deposits from the citizens since 2014 this years is on record to be the highest since. That means the citizens are on board with it now.. They have confidence in the new systems in place and are now coming in in record numbers to get what they have been told!"

Didn't Iraq also implement Deposit Insurance a few months ago? I recall the article was focused on Investors, but one would surmise they may also have implemented funds insurance to provide the citizens confidence and trust, that their money is safe (and some of these citizens have had quite a bundle of dinar stashed under mattresses, buried, hidden, etc!).

"Yes, I can agree with that however, the article says All Groups!!"

 My understanding of the Friday Team Chat in regards to Frank's opinion, is that we may be at the place where they are now ready to deliver the smalls. My interpretation was that he felt that ONE article was referring exclusively to the LD's (1000, 500, 250)... however, later in chat Frank said:

...IMO ONCE THEY PICK UP THE NEW LD'S THE INSTRUCTIONS TO PICK UP THE NEW SMALL CAT NOTES WILL QUICKLY FOLLOW & I STRONGLY BELIEVE THAT'S WHERE WE ARE RIGHT NOW.......

I believe it is still more likely to be before they finish the 25th..

Just to add some emphasis to this belief I just read a blurb that...

"Holiday in global markets Stock trading in number of countries is suspended on Monday to celebrate the Spring Festival, with the resumption of trading starting TUESDAY."

Perhaps this is part of the roll-out, with Sunday a holiday as well in many provinces in Iraq -- plus Stock and Bond markets were closed on Good Friday => and now Stock trading in Switzerland, France, Germany, New Zealand, Australia, and Italy will suspend trading until Tuesday morning.... and MANY others (link provided below) Hmmmmm

Switzerland:
Swiss Stock Exchange (SIX) Trading Hours. StockMarketClock. × The next Swiss Stock Exchange holiday is Easter Monday and will be observed on April 22, 2019

France:
Euronext CLOSED April 22, 2019

Germany:
Frankfurt Stock Exchange CLOSED Easter Monday, April 21, 2019 (21 must have been a typo, but I need to quote exactly here)

New Zealand:
CLOSED Good Friday, April 19, 2019 and Easter Monday, April 22, 2019

Australia:
The next Australia Stock Exchange holiday is Easter Monday and will be observed on April 22, 2019

Italy:
CLOSED Good Friday, April 19, 2019 and Easter Monday, April 22, 2019

Here is a list of all of the CLOSED stock exchanges for Monday:
https://www.investing.com/holiday-calendar/

~ Sunkissed

MilitiaMan:  Good point on not only the Stock Exchanges being closed Monday in many Countries / areas to the east like you mention and also to give support to the citizens in respect to Insurance on their deposits, may have a significant contribution to the record numbers.

 I did see that there was an article on based of the 04/11/2019 ISX meeting out today. It will be interesting if we hear more on those minutes. AS could there be a clue as to them going live interconnected with the NASDAQ? We shall see. Maybe we find that out if/when Delta has a chance to go over it. If not sooner.. lol

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Popeye7:  I am in agreement with MM about this week... IMO, I believed this weekend was in play... It is not quite over yet!.But before the 25th would seem to be most logical timeframe considering all of the info that the Iraqi citizen has been privy to as it concerns the rolling out of their currency... Thanks again MM for your selfless service on behalf of your fellow citizens here at KTFA... SK, love your input as well... Both are very articulate, and make fantastic points in your analysis... God bless to you

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Don961:  DELTA DELTA ...  ISX Market Announcement

Minutes of the meeting of the General Assembly of the Association of Securities Brokers in Iraq held on 11/4/2019

21/04
Attended the meeting of the General Assembly of the Association of Securities Brokers in Iraq, held on 2019/4/11

21 April 2019 11:49 p

 For more details, please refer to the attached file  ISX Market Announcement

اعلان السوق ISX       link

ChrisC:  I posted something the other day and I think it supports what you are saying MM. 

At the time it was happening I thought it was one more example of how sorry these guys are to their people, but now I think they choked them out of having the 250, 500 and 1000 so that when they offered them to them they would RUN to the bank to get some.
 
 They most likely forced them to open accounts to get them and while they were getting them, they said "here is a sample of the new 1, 5, 10, and 20 with some fils so that you can know what the reals ones are going to look like when we raise the value next week". 

It makes sense that they have the new notes now and they are getting them used to seeing them before they change the rate.