"They Don't Know" - Sat. AM KTFA Thoughts/News 9/1/18

by **Ssmith** Sun Sep 02, 2018 9:24 am

KTFA

Strongcbm » September 1st, 2018

THEY DON'T KNOW WHAT THEY DON'T KNOW

Is it possible for people not to know what is going on monetarily with their country's currency? IMO, YES ! Here in the United States (the global mecca for communication and information) people don't know what's going on with the dollar let alone with another foreign currency.

I asked a friend if they knew if our dollar was backed by any asset(s); they didn't have a clue what I was talking about. I asked did they know what the word fiat meant, sill no clue. BTW these are things I learned by being here at KTFA

So is it possible to not know what's going on with the monetary process in Iraq as a citizen, a place where communication and the media is controlled? Again IMO, YES !

Thank you Frank, Lady Tink, WS, Delta and Teams for all you do ! ! ! "GAME ON"

ChrisC » September 1st, 2018

I am always amazed how many smart people don't know anything about our currency. I have a rancher buddy that actually thinks we never left the gold standard.

On a similar note almost nobody knows about the Federal Reserve, which is not Federal at all but privately owned.

They don't know that the UST prints the money and then gives it to the Federal Reserve which then loans it back to us with interest being charged.

We are being charged interest on our own money from a foreign held bank!!! If people really understood this fact, there would be a "torches and pitchforks" moment at the Fed. IMO.

Kickykai » September 1st, 2018

FDI (foreign direct investment) needs incentive not at a program rate!

Samson » September 1st, 2018

Rafidain Bank Brings News To The Directorates Of Education

1st September, 2018

Rafidain Bank announced the disbursement of salaries of staff of some departments of education Rusafa I and II and the first and third Karakh in Baghdad.

The bank's information office said the bank had paid the salaries of the directors of education departments after the arrival of their sukuk.

The bank pointed out that the exchange was done through an electronic payment tool. LINK

Masum assured McGurk of his commitment to the announced date of the first parliament session

1st September, 2018

President of the Republic Fuad Masum, on Saturday, during a meeting with US special envoy to Iraq, Brett McGurk, the commitment of the presidency of the promised date of the first parliament session.

"Masoom met with McGurk and his accompanying delegation, including US Ambassador to Iraq Douglas Silliman, to discuss means of enhancing cooperation between the two countries and the two friendly peoples, as well as the overall political and security developments in Iraq," the statement said. And the region."

Masoum praised the "role of the United States to support Iraq in various fields," and urged "to commit to invite the Iraqi Council of Representatives elected at the constitutional time announced officially."

He pointed to "the importance of concerted efforts of Iraqis to address the Iraqi government next to achieve all the legitimate aspirations of the Iraqi people stability and progress and the provision of services."

"The United States supports the stability of Iraq and continues to provide the necessary assistance to Iraqis in all fields as part of the strategic agreement between the two countries," said British Foreign Secretary Brett McGurk. LINK

Dealing with the US dollar in trade exchange between Iraq and Iran

1st September, 2018

Announced the Iraqi head of Iran's Chamber of Commerce Yahya Al - Ishaq, on Saturday, cancel the deal in US dollars in trade between Iran and Iraq, and replacing it with the euro and the currencies Iranian Rial Iraqi Dinar.

"The dollar exchange between Iran and Iraq has been canceled, and most exchanges will be in the currencies of the euro, the Iranian riyal and the Iraqi dinar," Ishaq told Iran's Mehr news agency.

He added that "another part of the exchange between Iranian exporters and Iraqi traders will be in accordance with the exchange of goods or in a consensual manner."

"With 8 billion dollars in trade volume between Iran and Iraq, the volume of money transfer between the two countries is very low through banks," he said. "Iraq is Iran's second largest trading partner after China," he said,

He pointed out the obstacles to the establishment of a joint Iranian-Iraqi bank, saying that "solving banking issues should be the main priorities of the Iranian economy because at the worst conditions we have a trade exchange with Iraq worth 8 billion dollars." LINK

White House: Trump to meet Emir of Kuwait next Wednesday in Washington

1st September, 2018

The White House announced on Saturday that President Donald Trump will meet Kuwait's Emir Sheikh Sabah Al-Ahmad Al-Sabah next Wednesday.

The White House said the Emir of Kuwait would meet Trump at the White House as part of a working visit to Washington.

The statement pointed out that the meeting will address the bilateral relations between Kuwait and the United States, as well as regional developments in the region. The Emir of Kuwait made his last visit to Washington in September last year, during which Trump met.

LINK

Kuwaitis buy 11 tonnes of gold worth half a billion dollars in just two months

1st September, 2018

Kuwait has recorded record gold sales in the last two months, indicating that citizens and expatriates bought gold worth close to half a billion dollars, the Kuwaiti daily Al-Rai reported on Saturday

The newspaper said in a report, "Economy News", that "the total purchase of the" yellow metal "by citizens and residents in just 60 days, approached about 11 tons," pointing out that «A | Total value of this quantity reaches To about 132 million dinars (about 425 million dollars), on the basis of the average price of about 12 dinars per gram

"The total gold purchased during the whole of 2017 did not exceed the 33.6 tonnes threshold," it said, adding that "the number of gold marked in the third quarter (July, September and September) is 50 percent of the total amount recorded last year

The paper pointed out that "the remarkable state of demand for bullion and gold not occupied by individuals (citizens and residents) was the result of two factors, the first relates to the data of the markets and their interaction with disturbing geopolitical events, while the second focuses on personal decisions of saving and saving in order to benefit from the decline in prices Yellow metal, which finally hit its lowest level in nearly 18 months LINK