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"Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
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"Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by Ssmith Thu Nov 19, 2015 12:53 pm
UU6837 – "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
Hello Everyone,
Today I am going to update you on the process of the “project to delete the zeros” as I described to you in my 11/16 news letter (LINK).
On 11/17 I sent you another news letter (LINK) and everything looked so good that we thought MAYBE the CBI might even begin this process prior to early December, as they originally announced.
So today we have our GOLDEN NUGGET too. It is exactly what we have been waiting and was announced much early than I anticipated. They are moving ahead very fast. See if you can find the golden nugget….lol….
Hello Everyone,
Today I am going to update you on the process of the “project to delete the zeros” as I described to you in my 11/16 news letter (LINK).
On 11/17 I sent you another news letter (LINK) and everything looked so good that we thought MAYBE the CBI might even begin this process prior to early December, as they originally announced.
So today we have our GOLDEN NUGGET too. It is exactly what we have been waiting and was announced much early than I anticipated. They are moving ahead very fast. See if you can find the golden nugget….lol….
Today’s News
Today is Thursday November 19th. What? – Still No RV. As I have said many times over and over to watch for the project to “delete the zeros” and other signs and our RV is close at hand. Now we are witnessing these signs and so the probability of the RV increases as each day passes.
No “secret” sources or “boots on the ground necessary to tell me this. Since they have hardly been correct anyhow over these past years. I have learned too that using them as sources are not reliable and really are not much better that if you or I were speculating and interpreting what was going on. The MOST reliable source of information by far are the ARTICLES and our common sense in applying them. The news from them may be a week or days late at times but even with this delay they are still far better than this GARBAGE we are getting from many of these so called intel “gurus” who rely solely on these kind of sources.
It all boils down to just plain old common sense and being diligent enough (not lazy) to get off the couch, and instead take the time to read the articles and the news that the CBI and the Ministry of Finance from Iraq are telling us. Yes – they are actually telling us the process. Are you listening?
So today’s news is all TERRIFIC and EXCITING !
Update: Currency Reform
IRAQ HAS LAUNCHED THE 50K NOTES ! HURRAY! HURRAY!
Many already know this fact since we have seen the 50k notes on ebay for sale already. How did they get there so fast? This is a puzzle to me and most but anything is possible in Iraq.
But this is an excellent sign too that they have in fact launched the project to “delete the zeros” already and the process is now underway once again. It only confirms other news we have heard.
They are essentially picking up where they left off in 2012 (due to Maliki) and then again haD to postpone it in 2015 (due to ISIS).
Next Steps:
We simply have to wait and watch for news of the amounts of the 10k and 25k notes collected. This could take a week maybe a month. But I am hearing it will sooner than later. Why? See article #1 below.
Article Begins
FINANCE COMMITTEE: CENTRAL BANK TO WITHDRAW 10,000 AND 25,000 NOTES
November 17, 2015
Our economy / Baghdad
Detection of the Finance Committee member Abdul Qader Mohammed, Tuesday, for the withdrawal of 25 thousand dinars compared to the category of the new category issued by the Central Bank, as he emphasized that the issuance of the fifty thousand category will make it easier to deal in Iraqi dinars at home to reduce the trend towards the dollar.
Mohammed said: Pentecostal group that issued by the Central Bank does not have any negative impact on fiscal policy in Iraq.
He stressed that the Iraqi currency dealing will be closer to deal private dollars for businesses which use large amounts of money where it is most dealing in Iraqi dinars existence of 50 thousand class.
He added that the issuance of this category will make it easier to deal in Iraqi dinars to be at home in the biggest turnout of the dollar, which have an impact on reducing the trend towards last.
He disclosed that a new class is issued by the central bank in return will withdraw the class 25 000 or 10 000.
Little, the central bank announced in November 201 511 for issuing banknotes category 50 000 dinars dimensions of 65 mm width, 156 mm length and predominantly light brown except Framework decorations that took bold color were printed using the superior quality of the printing paper with A number of security and the technical marks.
Article #1 Ends
Why will it be sooner than later?
Because they already collected nearly 80-90% of the 10k and 25 notes. Remember the statistics the CBI has give us in past ARTICLES? Their words not mine. NO Hype, NO Rumors just the FACTS.
So now by the exchanging of yet more of the 10k and 25k notes for the 50k notes this will decreased yet more of the 3 zero notes out of circulaiton. At the same time the effect of the process is to decrease the money supply. Going back to simply micro-economics – if you DECREASE THE SUPPLY and INCREASE THE DEMAND then what happens?
I quote from article #2 below – “CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the DEVELOPMENT OF HIGH VALUE IN THE TRADING CATEGORY.”
So we see this was the purpose of launching these new 50k notes. The CBI told us themselves
Of course the VALUE would INCREASE rise. What is the value of the dinar? The value is expressed in terms of it’s RATE. Do we not all want a RATE INCREASE?
So at some point in time soon I expect they will hit a point they need and then pop out the new rate. Part B to their plan.
Remember I told you this will be sudden and excepted. This process is NOT a currency FLOAT as many have alluded to will happen. They will simply go from the 1166 rate to a 1:1 rate with the USD. The IMF is now working very closely and monitoring it very closely.
Some say – “but they are only introducing yet more 3 zero notes into circulation so how does this delete the zeros?” Won’t this cause yet more hyper-inflation? See article below.
No- it will not cause more hyper-inflation. Hyper inflation is cause by too much currency in circulation – way too much. Because you flooded the market SUPPY INCREASES and so the individual VALUE DECREASES.
We have witnessed this is Zimbabwe with their currency. If they ever reorganize that currency they will have to eventually do a “lop” to drop the zeros off their currency to exchange them.
With the Iraq dinar what they are doing is not a “lop” and they even call the project to “delete the zeros” meaning to delete the 3 zero currency out of circulation prior to a rate increase they driving up the rate and thus not do a “lop”. The CBI has told us this too. So relax all you worry warts out there…..lol……
It “deletes the zeros” because to make up a 50k note you have to use combinations of the 10k and 25k notes. For instances see examples (2 x 25k = 50k), (5 x 10k = 50k), (10k+10k + 5k + 25k = 50K) etc..I really like this last example since it demonstrates that they collected 4 of the 3 zero notes and gave them back only one notes. This is a 4:1 reduction overall and a 3:1 reduction for the project (since the 5k notes are remaining anyhow we really can’t count them ).
Eventually, when the rate does change, many citizens owning these 50k notes will go the bank and exchange them too since the rate will be worth the exchange for the lower denoms that will have a higher value. So they will collect many of these 50k notes back anyhow in the long term. But you must now look more at the short term goal they are trying to achieve.
Eventually the CBI will have to tell the banks to begin launching the lower denominations into circulation Some say this has already occurred as I write this news letter. Really? See article #2 below. Maybe the article is late and they have already done this? We wait for the impact. Do you agree this article is our GOLDEN NUGGET of the day? It is like a WOW factor. Do know how long we have been waiting for this news. It is like manna from heaven when you are starving…..ahhhhh !
Article #2 Begins
NEW CURRENCY - LOWER THAN THE 250 NOTES
Najib: New plans to issue new currency less than 250 dinars coin
November 19, 2015
Baghdad
A commission of economy and investment plans for new parliamentary Central Bank intends to implement is to issue less cash currency of category 250 dinars, and a new edition to the category of 500 dinars. "
He said committee member Najiba Najib said in a statement seen by the agency of our economy news that "the central bank has new plans to issue a new currency less than the category of the 250 Iraqi dinars to fill the Iraqi market needs, as well as to issued a new edition of the Currency 500 dinars category."
The CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the development of high value in the trading category.
http://www.iqtesaduna.com/2015/11/19/
Article #2 Ends
I personally have not heard of any significant increase in the dinar value so my common sense tells me this has not yet occurred. But we know it can’t be long since eventually, and shortly, they will get to point when they must increase the incentive to begin collecting yet the USD too.
Remember the IMF does not want Iraq to be a USD based economy and right now it is nearly 80-90% running on USD. So they must draw-in this currency too and they will not do it with out at least a 1:1 or a bit higher rate for the new lower denominations. This is part C to the plan and the launching of the lower denoms will initiate it.
When these lower denominations are launched you can buy your bottle of champagne and put it on ice since it is not long before we, as outside investors, are at the bank.
So if anyone comes out with PROOF not rumors or conjecture that these new lower denoms are launched and in the hands of the citizens, please let everyone know ASAP. This is VERY significant.
Even if this plan is not successful (but I believe it will be) in accomplishing all of its goals we know that they have decided now is the time to move forward with this project to “delete the zeros”. We know the basis parts of the project and they may change directions but this is all VERY GOOD news for us anyway it goes.
At least we see some significant movement in the right direction…..FINALLY after all these years of waiting !
To answer many other questions as to what do they do with these 50k notes afterwards ?
These 50k notes are being used as a temporary tool to collect the remaining 10k and 25kk notes. That is all for they are intended to do as part A of the plan.
Then once more of the 10k and 25k notes are sucked out of circulation this will justify a rise in the value of the dinars (as the money supply decreases) of which the remaining supply will be mostly now the 5k and 50k notes.
They already recalled the $50 notes early last spring remember? The 5k (also a 3 zero note) will remain in circulation going forward.
Today is Thursday November 19th. What? – Still No RV. As I have said many times over and over to watch for the project to “delete the zeros” and other signs and our RV is close at hand. Now we are witnessing these signs and so the probability of the RV increases as each day passes.
No “secret” sources or “boots on the ground necessary to tell me this. Since they have hardly been correct anyhow over these past years. I have learned too that using them as sources are not reliable and really are not much better that if you or I were speculating and interpreting what was going on. The MOST reliable source of information by far are the ARTICLES and our common sense in applying them. The news from them may be a week or days late at times but even with this delay they are still far better than this GARBAGE we are getting from many of these so called intel “gurus” who rely solely on these kind of sources.
It all boils down to just plain old common sense and being diligent enough (not lazy) to get off the couch, and instead take the time to read the articles and the news that the CBI and the Ministry of Finance from Iraq are telling us. Yes – they are actually telling us the process. Are you listening?
So today’s news is all TERRIFIC and EXCITING !
Update: Currency Reform
IRAQ HAS LAUNCHED THE 50K NOTES ! HURRAY! HURRAY!
Many already know this fact since we have seen the 50k notes on ebay for sale already. How did they get there so fast? This is a puzzle to me and most but anything is possible in Iraq.
But this is an excellent sign too that they have in fact launched the project to “delete the zeros” already and the process is now underway once again. It only confirms other news we have heard.
They are essentially picking up where they left off in 2012 (due to Maliki) and then again haD to postpone it in 2015 (due to ISIS).
Next Steps:
We simply have to wait and watch for news of the amounts of the 10k and 25k notes collected. This could take a week maybe a month. But I am hearing it will sooner than later. Why? See article #1 below.
Article Begins
FINANCE COMMITTEE: CENTRAL BANK TO WITHDRAW 10,000 AND 25,000 NOTES
November 17, 2015
Our economy / Baghdad
Detection of the Finance Committee member Abdul Qader Mohammed, Tuesday, for the withdrawal of 25 thousand dinars compared to the category of the new category issued by the Central Bank, as he emphasized that the issuance of the fifty thousand category will make it easier to deal in Iraqi dinars at home to reduce the trend towards the dollar.
Mohammed said: Pentecostal group that issued by the Central Bank does not have any negative impact on fiscal policy in Iraq.
He stressed that the Iraqi currency dealing will be closer to deal private dollars for businesses which use large amounts of money where it is most dealing in Iraqi dinars existence of 50 thousand class.
He added that the issuance of this category will make it easier to deal in Iraqi dinars to be at home in the biggest turnout of the dollar, which have an impact on reducing the trend towards last.
He disclosed that a new class is issued by the central bank in return will withdraw the class 25 000 or 10 000.
Little, the central bank announced in November 201 511 for issuing banknotes category 50 000 dinars dimensions of 65 mm width, 156 mm length and predominantly light brown except Framework decorations that took bold color were printed using the superior quality of the printing paper with A number of security and the technical marks.
Article #1 Ends
Why will it be sooner than later?
Because they already collected nearly 80-90% of the 10k and 25 notes. Remember the statistics the CBI has give us in past ARTICLES? Their words not mine. NO Hype, NO Rumors just the FACTS.
So now by the exchanging of yet more of the 10k and 25k notes for the 50k notes this will decreased yet more of the 3 zero notes out of circulaiton. At the same time the effect of the process is to decrease the money supply. Going back to simply micro-economics – if you DECREASE THE SUPPLY and INCREASE THE DEMAND then what happens?
I quote from article #2 below – “CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the DEVELOPMENT OF HIGH VALUE IN THE TRADING CATEGORY.”
So we see this was the purpose of launching these new 50k notes. The CBI told us themselves
Of course the VALUE would INCREASE rise. What is the value of the dinar? The value is expressed in terms of it’s RATE. Do we not all want a RATE INCREASE?
So at some point in time soon I expect they will hit a point they need and then pop out the new rate. Part B to their plan.
Remember I told you this will be sudden and excepted. This process is NOT a currency FLOAT as many have alluded to will happen. They will simply go from the 1166 rate to a 1:1 rate with the USD. The IMF is now working very closely and monitoring it very closely.
Some say – “but they are only introducing yet more 3 zero notes into circulation so how does this delete the zeros?” Won’t this cause yet more hyper-inflation? See article below.
No- it will not cause more hyper-inflation. Hyper inflation is cause by too much currency in circulation – way too much. Because you flooded the market SUPPY INCREASES and so the individual VALUE DECREASES.
We have witnessed this is Zimbabwe with their currency. If they ever reorganize that currency they will have to eventually do a “lop” to drop the zeros off their currency to exchange them.
With the Iraq dinar what they are doing is not a “lop” and they even call the project to “delete the zeros” meaning to delete the 3 zero currency out of circulation prior to a rate increase they driving up the rate and thus not do a “lop”. The CBI has told us this too. So relax all you worry warts out there…..lol……
It “deletes the zeros” because to make up a 50k note you have to use combinations of the 10k and 25k notes. For instances see examples (2 x 25k = 50k), (5 x 10k = 50k), (10k+10k + 5k + 25k = 50K) etc..I really like this last example since it demonstrates that they collected 4 of the 3 zero notes and gave them back only one notes. This is a 4:1 reduction overall and a 3:1 reduction for the project (since the 5k notes are remaining anyhow we really can’t count them ).
Eventually, when the rate does change, many citizens owning these 50k notes will go the bank and exchange them too since the rate will be worth the exchange for the lower denoms that will have a higher value. So they will collect many of these 50k notes back anyhow in the long term. But you must now look more at the short term goal they are trying to achieve.
Eventually the CBI will have to tell the banks to begin launching the lower denominations into circulation Some say this has already occurred as I write this news letter. Really? See article #2 below. Maybe the article is late and they have already done this? We wait for the impact. Do you agree this article is our GOLDEN NUGGET of the day? It is like a WOW factor. Do know how long we have been waiting for this news. It is like manna from heaven when you are starving…..ahhhhh !
Article #2 Begins
NEW CURRENCY - LOWER THAN THE 250 NOTES
Najib: New plans to issue new currency less than 250 dinars coin
November 19, 2015
Baghdad
A commission of economy and investment plans for new parliamentary Central Bank intends to implement is to issue less cash currency of category 250 dinars, and a new edition to the category of 500 dinars. "
He said committee member Najiba Najib said in a statement seen by the agency of our economy news that "the central bank has new plans to issue a new currency less than the category of the 250 Iraqi dinars to fill the Iraqi market needs, as well as to issued a new edition of the Currency 500 dinars category."
The CBI had announced earlier issued a new banknote fifty thousand Dinars category in order to complete the Iraqi Securities monetary structure, and the development of high value in the trading category.
http://www.iqtesaduna.com/2015/11/19/
Article #2 Ends
I personally have not heard of any significant increase in the dinar value so my common sense tells me this has not yet occurred. But we know it can’t be long since eventually, and shortly, they will get to point when they must increase the incentive to begin collecting yet the USD too.
Remember the IMF does not want Iraq to be a USD based economy and right now it is nearly 80-90% running on USD. So they must draw-in this currency too and they will not do it with out at least a 1:1 or a bit higher rate for the new lower denominations. This is part C to the plan and the launching of the lower denoms will initiate it.
When these lower denominations are launched you can buy your bottle of champagne and put it on ice since it is not long before we, as outside investors, are at the bank.
So if anyone comes out with PROOF not rumors or conjecture that these new lower denoms are launched and in the hands of the citizens, please let everyone know ASAP. This is VERY significant.
Even if this plan is not successful (but I believe it will be) in accomplishing all of its goals we know that they have decided now is the time to move forward with this project to “delete the zeros”. We know the basis parts of the project and they may change directions but this is all VERY GOOD news for us anyway it goes.
At least we see some significant movement in the right direction…..FINALLY after all these years of waiting !
To answer many other questions as to what do they do with these 50k notes afterwards ?
These 50k notes are being used as a temporary tool to collect the remaining 10k and 25kk notes. That is all for they are intended to do as part A of the plan.
Then once more of the 10k and 25k notes are sucked out of circulation this will justify a rise in the value of the dinars (as the money supply decreases) of which the remaining supply will be mostly now the 5k and 50k notes.
They already recalled the $50 notes early last spring remember? The 5k (also a 3 zero note) will remain in circulation going forward.
Article #2 Begins
PARLIAMENTARY ECONOMY: ISSUING CURRENCY 50 THOUSAND DINARS INCONSISTENT WITH THE DELETION OF ZEROS
17, 2015 November 17, 2015
Our economy / Baghdad
Considered the economic and investment commission in Parliament to issue a class of 50 thousand dinars, contrary to what was approved by the Ministry of Finance and the Central Bank on the deletion of zeros from the currency.
The Deputy Chairman of the Committee Harith al-Harthy said in a statement seen by the agency of our economy news today, there are large errors in monetary and fiscal policy in the country, noting that the issuance of the currency of 50 thousand dinars category was contrary to what was approved by the Ministry of Finance, and the Governor of the Central Bank of the deletion of zeros from the currency.
And that when you grow up where the currency will be weak, and will use some of the smugglers to draw them out of the country, and that will affect the strength of the Iraqi dinar.
He explained that the issuance of the 50 dinars category will contribute to an increase of inflation in the country, likely cancel after the end of the financial crisis that has plagued Iraq due to lower oil price.
Article #2 Ends
So I mentioned this upcoming bond drive to in previous article. Now they are telling when they plan to do it again. Can they do this without a currency value? Can they get the kind of credit rating they need to make these bonds profitable prior to this timeframe?
Maybe now with the backing of the WTO they can pull it off and payout less on these bonds?
Just some questions we need to think about. But the timeline is significant.
Article Begins
KEYWORDS CONFIRMS THE INTENTION OF IRAQ TO ISSUE INTERNATIONAL BONDS TO ENSURE THE WORLD BANK TO HALF THE AMOUNT
November 18, 2015
Our economy / Baghdad
The governor of the Iraqi Central Bank on the Keywords Iraq's intention to issue international bonds two billion dollars in 2016 to guarantee from the World Bank for up to half the amount.
Keywords and said in comments carried by Reuters statements and pursued agency our economy news "value will amount to two billion dollars but the (World Bank) will ensure, say 40 or 50 percent .. will open that market more - make it wider - to attract more investors," he said, adding that the government placed bonds in their accounts for next year's budget deficit to finance the estimated $ 21 billion in size budget of about $ 95 billion.
Keywords predicted to be the new bond yields "a lot less" than 11.5 percent of the revenue that investors request during a promotional tour in Europe and the United States.
Iraq and appointed three major international banks to arrange the release are Citigroup, Deutsche Bank, JP Morgan Chase, but many institutional investors were reluctant because of the risks.
Article Ends
Update: Amnesty Law
We are also hearing there are issues with the Amnesty law and these issues may take time to resolve. This law we know is part of the mix too in beginning this “delete the zeros” project. As the USA and UN will not allow the RV without Amnesty (Amnesty bill with certain conditions in it). These conditions are what Allawi has spoken up against in recent new media yesterday. So yes- they can not go forward with deleting the zeros project without Amnesty bill being passed and appropriate/needed conditions within it.
As usual nothing happens on time in Iraq. We will patiently see if this all works out prior to end of Nov.
The recent news as I complete this news letter today is that these issues are all settled. However, we wait and see. I do know it is very urgent to get his law passed since if stalled it could mess up the RV process by holding it back.
Update: Oil & Gas Law
Remember I told you about these changes required in the oil and gas law that are needed by Kuristan. They want to have the “official” approval through parliament to sell as much oil and they want, as long as they also meet the Baghdad currency year budget quotas. The contention with the changes are that many politicians want to leave the oil in the ground and limit pumping only to the budget quotas.
Article Begins
VICE CALLING ON THE GOVERNMENT TO GET THE OIL AND GAS LAW AND SEND IT TO PARLIAMENT
Economy and Tenders
2015-11-18
BAGHDAD - scales News
Called the National Alliance MP Haider Alfoada, the government has to complete the project oil and gas law and send it to the House of Representatives for approval, towards resolving the economic crisis.
He called Alfoada, in a statement received / scales News / copy of it on the government to "think seriously about solving the economic problem and the solution is to send the oil and gas law to the Parliament and the distribution of part of the oil and gas revenues to the Iraqi citizen, without any exception."
He added that "this method will improve living conditions for the Iraqi people, and also help to rationalization by the citizen."
Alfoada and pointed out that "improving the pension situation for the Iraqi people by giving a share of oil revenues, will allow the government to adopt the imposition of Statistics taxes on the citizen, which it will receive all the open-mindedness on the grounds that the value of these taxes will not affect his pension as the income of more than tens of times these taxes. "
He stressed the need to "invest the investment budget for the next year in all sectors, to be Assistant to the oil resource and maximize resources," pointing to "the need to take care of real partnership between the public and private sectors to stimulate investment".
Article Ends
Article Begins
ALFOADA: CALLS FOR THE COMPLETION OF OIL AND GAS LAW AND THE DISTRIBUTION OF PART OF THE OIL REVENUES TO IRAQI CITIZENS
MP for the National Alliance Haider Alfoada, completion of oil and gas law and include a paragraph in which the distribution of part of the oil revenues to Iraqi citizens. He called on the government Alfoada in a statement to "think seriously about solving the economic problem and the solution is to send the oil and gas law to the Parliament and the distribution of part of the oil and gas revenues to the Iraqi citizen, without any exception." Alfoada promise that this method "will improve living conditions for the Iraqi people and also helps to rationalization by the citizen."
He Alfoada to, that "improving the pension situation for the Iraqi people by giving a share of oil revenues, will entitle the government to adopt the imposition of Statistics taxes on the citizen, which it will receive all the open-mindedness on the grounds that the value of these taxes will not affect his pension, considering that his income over tens weaken these taxes. "
Alfoada stressed the need to "invest the investment budget for the next year in all sectors, to be Assistant to the oil resource and maximize resources, pointing to the need to take care of real partnership between the public and private sectors to stimulate investment."
Article Ends
[Update: 2016 Budget]
Earlier this week parliament had the second reading of the 2016 budget law. They are telling us the want to complete the budget and pass it by the end of Nov. They seemed to be on track to do this by end of Now, then yesterday out pops negativity about how the 2015 budget was handled.
I quote from the article- “large frustration with the Representatives and the lack of enthusiasm to approve next year's budget because of the government's commitment to the implementation of the last budget items”.
Seems once again the govt is not living up to its promises and so support going forward is lessened. My take on this negativity is that there was not enough funding to complete all the projects in 2015 and so some have been delayed. Like in every government there are always the complainers but these politicians are good too since they create a sense of check and balance on the govt. My feelings are this may have little impact in getting support for the 2016 budget once explained and outlines by the govt.
I want also to remind everyone that thinks there is a ton of money remaining in the CBI rolled over from all those previous budgets (money not spent) due to Maliki and his corruption. Let me address this now since I am getting really sick and tired of hearing about this.
All I can say to these thinkers is this. THE REASON WHY THE PROJECTS WERE NOT COMPLETED IS BECAUSE THE MONEY WAS STOLEN by falsified contracts in the Ministry of the Interior etc…
So how can the funding still exist? Where does the nearly 1 trillion dollars that Maliki and his goons are accused of stealing come from? It comes from an accumulation of years of corruption and pillaging of these prior year’s budget allocations. Remember the budget is allocated, the ministries send in contracts to transfer money to the banks for the projects. The banks release the funds based on documents. The documents were forged and counterfeited in many cases.
At the time the GOI assumed the money was being spent appropriately if audited however time proved otherwise. Anyone who knew about the corruption and tried to expose it winded up dead. So it went on and on until Iraq is where they are today…missing money, gone!
So please STOP telling everyone Iraq is not really in a financial mess.
Article Begins
CHANGE CALLS ABADI AND MINISTRY OF FINANCE PLEDGED TO IMPLEMENT THE 2016 BUDGET ITEMS
November 18, 2015
Our economy / Baghdad
The head of the mass change parliamentary Hoshyar Abdullah, on Wednesday, Prime Minister Haider al-Abadi and Ministry of Finance to pledge to abide by the terms of the budget in 2016 and dealt with seriously, expressing his regret for the presence of a large frustration with the Representatives and the lack of enthusiasm to approve next year's budget because of the government's commitment to the implementation of the last budget items.
Said in a statement reported by the Information Office today: that the House unfortunately is not enthusiastic to approve next year's budget, the main reason for this is the lack Abadi's commitment to the terms of last year's budget, as it unfortunately had a special that applied according to the views and orientations vision, and therefore the application as it pleases , and this has a negative impact on Hamas blocs and the Finance Committee in their dealings with the draft 2016 budget.
Abdullah stressed that the Ministry of Finance bear part of the responsibility for non-compliance with the terms of last year's budget, and that Parliament and the Finance Committee did not Icoma Unfortunately, monitoring the implementation of its provisions at a time when our eyes went to the reforms.
He said Abdullah: If we look at the budget in 2015 Terms and even simple ones and least importance, we find that the government did not comply with it, have been lawsuits raise about the basic items, and today some wonder about the feasibility of the adoption of the budget for next year and whether there is a need for the existence of budget basically?
And between Abdullah, he said that in 2014 there were not offset mainly, and in 2015 there was a lack of commitment and lack of interest by the government to implement its provisions, and today we are discussing the budget law with our frustration because we, even if we were able to approval We have no hope that the government will stick to them.
He stressed Abdullah on "the need to move away the government and al-Abadi for the wrong approach, which treated him with the budget in 2015, both from the selective hand in the implementation of its provisions or other essential steps relating to the financial plan," calling on the Ministry of Finance to "carry out their duties and assume their responsibilities in providing reports containing serious and solutions Processors realistic the current financial crisis. "
Article Ends
KEYWORDS CONFIRMS THE INTENTION OF IRAQ TO ISSUE INTERNATIONAL BONDS TO ENSURE THE WORLD BANK TO HALF THE AMOUNT
November 18, 2015
Our economy / Baghdad
The governor of the Iraqi Central Bank on the Keywords Iraq's intention to issue international bonds two billion dollars in 2016 to guarantee from the World Bank for up to half the amount.
Keywords and said in comments carried by Reuters statements and pursued agency our economy news "value will amount to two billion dollars but the (World Bank) will ensure, say 40 or 50 percent .. will open that market more - make it wider - to attract more investors," he said, adding that the government placed bonds in their accounts for next year's budget deficit to finance the estimated $ 21 billion in size budget of about $ 95 billion.
Keywords predicted to be the new bond yields "a lot less" than 11.5 percent of the revenue that investors request during a promotional tour in Europe and the United States.
Iraq and appointed three major international banks to arrange the release are Citigroup, Deutsche Bank, JP Morgan Chase, but many institutional investors were reluctant because of the risks.
Article Ends
Update: Amnesty Law
We are also hearing there are issues with the Amnesty law and these issues may take time to resolve. This law we know is part of the mix too in beginning this “delete the zeros” project. As the USA and UN will not allow the RV without Amnesty (Amnesty bill with certain conditions in it). These conditions are what Allawi has spoken up against in recent new media yesterday. So yes- they can not go forward with deleting the zeros project without Amnesty bill being passed and appropriate/needed conditions within it.
As usual nothing happens on time in Iraq. We will patiently see if this all works out prior to end of Nov.
The recent news as I complete this news letter today is that these issues are all settled. However, we wait and see. I do know it is very urgent to get his law passed since if stalled it could mess up the RV process by holding it back.
Update: Oil & Gas Law
Remember I told you about these changes required in the oil and gas law that are needed by Kuristan. They want to have the “official” approval through parliament to sell as much oil and they want, as long as they also meet the Baghdad currency year budget quotas. The contention with the changes are that many politicians want to leave the oil in the ground and limit pumping only to the budget quotas.
Article Begins
VICE CALLING ON THE GOVERNMENT TO GET THE OIL AND GAS LAW AND SEND IT TO PARLIAMENT
Economy and Tenders
2015-11-18
BAGHDAD - scales News
Called the National Alliance MP Haider Alfoada, the government has to complete the project oil and gas law and send it to the House of Representatives for approval, towards resolving the economic crisis.
He called Alfoada, in a statement received / scales News / copy of it on the government to "think seriously about solving the economic problem and the solution is to send the oil and gas law to the Parliament and the distribution of part of the oil and gas revenues to the Iraqi citizen, without any exception."
He added that "this method will improve living conditions for the Iraqi people, and also help to rationalization by the citizen."
Alfoada and pointed out that "improving the pension situation for the Iraqi people by giving a share of oil revenues, will allow the government to adopt the imposition of Statistics taxes on the citizen, which it will receive all the open-mindedness on the grounds that the value of these taxes will not affect his pension as the income of more than tens of times these taxes. "
He stressed the need to "invest the investment budget for the next year in all sectors, to be Assistant to the oil resource and maximize resources," pointing to "the need to take care of real partnership between the public and private sectors to stimulate investment".
Article Ends
Article Begins
ALFOADA: CALLS FOR THE COMPLETION OF OIL AND GAS LAW AND THE DISTRIBUTION OF PART OF THE OIL REVENUES TO IRAQI CITIZENS
MP for the National Alliance Haider Alfoada, completion of oil and gas law and include a paragraph in which the distribution of part of the oil revenues to Iraqi citizens. He called on the government Alfoada in a statement to "think seriously about solving the economic problem and the solution is to send the oil and gas law to the Parliament and the distribution of part of the oil and gas revenues to the Iraqi citizen, without any exception." Alfoada promise that this method "will improve living conditions for the Iraqi people and also helps to rationalization by the citizen."
He Alfoada to, that "improving the pension situation for the Iraqi people by giving a share of oil revenues, will entitle the government to adopt the imposition of Statistics taxes on the citizen, which it will receive all the open-mindedness on the grounds that the value of these taxes will not affect his pension, considering that his income over tens weaken these taxes. "
Alfoada stressed the need to "invest the investment budget for the next year in all sectors, to be Assistant to the oil resource and maximize resources, pointing to the need to take care of real partnership between the public and private sectors to stimulate investment."
Article Ends
[Update: 2016 Budget]
Earlier this week parliament had the second reading of the 2016 budget law. They are telling us the want to complete the budget and pass it by the end of Nov. They seemed to be on track to do this by end of Now, then yesterday out pops negativity about how the 2015 budget was handled.
I quote from the article- “large frustration with the Representatives and the lack of enthusiasm to approve next year's budget because of the government's commitment to the implementation of the last budget items”.
Seems once again the govt is not living up to its promises and so support going forward is lessened. My take on this negativity is that there was not enough funding to complete all the projects in 2015 and so some have been delayed. Like in every government there are always the complainers but these politicians are good too since they create a sense of check and balance on the govt. My feelings are this may have little impact in getting support for the 2016 budget once explained and outlines by the govt.
I want also to remind everyone that thinks there is a ton of money remaining in the CBI rolled over from all those previous budgets (money not spent) due to Maliki and his corruption. Let me address this now since I am getting really sick and tired of hearing about this.
All I can say to these thinkers is this. THE REASON WHY THE PROJECTS WERE NOT COMPLETED IS BECAUSE THE MONEY WAS STOLEN by falsified contracts in the Ministry of the Interior etc…
So how can the funding still exist? Where does the nearly 1 trillion dollars that Maliki and his goons are accused of stealing come from? It comes from an accumulation of years of corruption and pillaging of these prior year’s budget allocations. Remember the budget is allocated, the ministries send in contracts to transfer money to the banks for the projects. The banks release the funds based on documents. The documents were forged and counterfeited in many cases.
At the time the GOI assumed the money was being spent appropriately if audited however time proved otherwise. Anyone who knew about the corruption and tried to expose it winded up dead. So it went on and on until Iraq is where they are today…missing money, gone!
So please STOP telling everyone Iraq is not really in a financial mess.
Article Begins
CHANGE CALLS ABADI AND MINISTRY OF FINANCE PLEDGED TO IMPLEMENT THE 2016 BUDGET ITEMS
November 18, 2015
Our economy / Baghdad
The head of the mass change parliamentary Hoshyar Abdullah, on Wednesday, Prime Minister Haider al-Abadi and Ministry of Finance to pledge to abide by the terms of the budget in 2016 and dealt with seriously, expressing his regret for the presence of a large frustration with the Representatives and the lack of enthusiasm to approve next year's budget because of the government's commitment to the implementation of the last budget items.
Said in a statement reported by the Information Office today: that the House unfortunately is not enthusiastic to approve next year's budget, the main reason for this is the lack Abadi's commitment to the terms of last year's budget, as it unfortunately had a special that applied according to the views and orientations vision, and therefore the application as it pleases , and this has a negative impact on Hamas blocs and the Finance Committee in their dealings with the draft 2016 budget.
Abdullah stressed that the Ministry of Finance bear part of the responsibility for non-compliance with the terms of last year's budget, and that Parliament and the Finance Committee did not Icoma Unfortunately, monitoring the implementation of its provisions at a time when our eyes went to the reforms.
He said Abdullah: If we look at the budget in 2015 Terms and even simple ones and least importance, we find that the government did not comply with it, have been lawsuits raise about the basic items, and today some wonder about the feasibility of the adoption of the budget for next year and whether there is a need for the existence of budget basically?
And between Abdullah, he said that in 2014 there were not offset mainly, and in 2015 there was a lack of commitment and lack of interest by the government to implement its provisions, and today we are discussing the budget law with our frustration because we, even if we were able to approval We have no hope that the government will stick to them.
He stressed Abdullah on "the need to move away the government and al-Abadi for the wrong approach, which treated him with the budget in 2015, both from the selective hand in the implementation of its provisions or other essential steps relating to the financial plan," calling on the Ministry of Finance to "carry out their duties and assume their responsibilities in providing reports containing serious and solutions Processors realistic the current financial crisis. "
Article Ends
Update: Fighting ISIS
11/18 /15- Intelligence reports say Ramadi may be liberated within 72 hrs.
https://twitter.com/iraqinside
Article Begins
US STRIKE DESTROYS 100 ISIS FUEL TANKERS
November 18, 2015 in Iraq Oil & Gas News
By Simon Kent.
A wave of US aircraft, including A-10 bombers which can fire thousands of exploding canon shells per minute, have destroyed 116 ISIS fuel tankers near the Iraqi border in Syria.
The operation at Albu Kamal (the Iraqi side of the border is Al Qaim), code named Tidal Wave II, targeted a gathering of tankers moving crude oil in a move avoided by the US so far.
To date, the US has been concerned that many of the tanker drivers are Syrian civilians desparate to earn a living, but this time the risk to life was minimised as the US planes dropped warning leaflets ahead of the strikes.
Further US operations now focus on not only destroying ISIS oil infrastructure, but ensuring that spare parts are destroyed as ISIS attempt to repair oil installations.
The strikes are expected to deny the group a significant portion of its income, as Syrians desperate for fuel buy it from ISIS, while unscrupulous traders have also been purchasing it in areas next to ISIS controlled territory.
Source: CNN
Article Ends
Let’s now keep praying for the success of THESE IRAQI AND COALITION SOLDIERS-
“May there be a hedge of protection surrounding them and let the Victory be theirs against these evil doers who have no regard for humanity! We will pray until we see Victory! Amen “
All these prayers seem to be working.
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,
Mnt Goat
11/18 /15- Intelligence reports say Ramadi may be liberated within 72 hrs.
https://twitter.com/iraqinside
Article Begins
US STRIKE DESTROYS 100 ISIS FUEL TANKERS
November 18, 2015 in Iraq Oil & Gas News
By Simon Kent.
A wave of US aircraft, including A-10 bombers which can fire thousands of exploding canon shells per minute, have destroyed 116 ISIS fuel tankers near the Iraqi border in Syria.
The operation at Albu Kamal (the Iraqi side of the border is Al Qaim), code named Tidal Wave II, targeted a gathering of tankers moving crude oil in a move avoided by the US so far.
To date, the US has been concerned that many of the tanker drivers are Syrian civilians desparate to earn a living, but this time the risk to life was minimised as the US planes dropped warning leaflets ahead of the strikes.
Further US operations now focus on not only destroying ISIS oil infrastructure, but ensuring that spare parts are destroyed as ISIS attempt to repair oil installations.
The strikes are expected to deny the group a significant portion of its income, as Syrians desperate for fuel buy it from ISIS, while unscrupulous traders have also been purchasing it in areas next to ISIS controlled territory.
Source: CNN
Article Ends
Let’s now keep praying for the success of THESE IRAQI AND COALITION SOLDIERS-
“May there be a hedge of protection surrounding them and let the Victory be theirs against these evil doers who have no regard for humanity! We will pray until we see Victory! Amen “
All these prayers seem to be working.
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,
Mnt Goat
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by Kevind53 Thu Nov 19, 2015 1:59 pm
Let’s now keep praying for the success of THESE IRAQI AND COALITION SOLDIERS-
“May there be a hedge of protection surrounding them and let the Victory be theirs against these evil doers who have no regard for humanity! We will pray until we see Victory! Amen “
At last the Goat has something to say I can agree with!
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by chevysteve Thu Nov 19, 2015 3:52 pm
Kevin, are you agreeing with just the "quoted" parts you brought forward or do you agree with the entire article he posted?
Just curious...
Just curious...
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by Terbo56 Thu Nov 19, 2015 4:32 pm
From what I'm seeing, it's just the quote- 
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by Kevind53 Thu Nov 19, 2015 9:56 pm
What I quoted - that's it. The rest is meaningless babble at best.
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by chevysteve Fri Nov 20, 2015 12:54 pm
Whew..............I had hoped that is what you meant!!!
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by dwm007 Fri Nov 20, 2015 1:48 pm
Been some buzz the last couple of days about the announcement of the "new" lower denominations, the 250 and 500 Dinar notes but what's the big deal? First these are replacements and even with talk of less than a 250 again why does it matter? Real low(er) denominations that should get attention would be if they released 1, 5, 10, 20 or 25, etc because the 250 and 500 could hardly be considered low by any standards if the mythical "RV" could somehow happen. Instead the reality is that Iraq needs a small "coin" (they call both paper and metal by the term coin) to make change just like any other country. At the current rates the 250 is roughly equal to a 25 cent coin, or Quarter and the 500 is simply a half Dinar or roughly comparable to a fifty cent coin here, again what's the big deal?
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Re: "Plan to Launch Lower Denoms- Hurray!" by Mnt Goat
by Kevind53 Fri Nov 20, 2015 5:38 pm
No big deal, unless you are seeing things through RV colored glasses. In reality, there has been talk of this off and on for years. This is not the first time that they have talked about circulating small denominations, likewise for the large, which, while it looks like they are going to be actually released, we have not yet seen. Until we do, it is just so much blah, blah, blah by people who like to hear themselves talk.
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Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
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