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Mountain Goat 3/30/18

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Mountain Goat 3/30/18

Post  Mountain Goatee on Fri Mar 30, 2018 9:41 am

March 30, 2018 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

Happy Easter Everyone!

May the sacrifice our Lord for our salvation be remembered and lived within our lives.

March is almost gone already and still no RV. But I have to tell you that the news right now is soooo good and promising. Let me go through the news with you and I hope it all makes sense.

More news….

In my last newsletter dated March 28th I clarified an article from the CBI talking about “the subject of deleting zeros from the currency is ready but needs a suitable environment to be applied to prevent manipulation and fraud by the owners” and that they were referring to the salary file from the Kurdistan region. Yes, it was hard to analyze this article and finally come to this conclusion since the article was not really all about the $71 billion debt but more about giving us an update on the reinstatement process as the increase in the debt they said was also due to fraudulent practices by Kurdistan even in the midst of the war with ISIS when they knew the GOI was struggling to pay its bills. Yes, they are part of the reason for the larger than desired debt.

Then if you can remember, I have been trying desperately to tie in the passing (and getting the 2018 budget into the gazette), to this RV Saga. What is the relationship? Many said it was simply that the rate for the RV can be figured out knowing the budget details. I said hogwash, since we go down this stupid path every year with the budget. This is not the significance and certainly would not hold up its passage and implementation. So this is NOT the connection.

But on Wednesday I finally got the connection…bingo! I realized the connection and why the budget is so important for us in getting the RV.

The budget contains the salaries for Kurdistan….bingo! Boy I must have been asleep on this one. This is why it is taking so long to get the budget passed and completely done and operational (opened). The Kurds don’t want it all in writing since they know they have fraud in the salary files and fake employees. Remember the budget is proactive and goes back to January 2018. So passing the budget, making it legal and then operational puts an end to their money making schemes and they might even turn out owing the GOI back overpaid money. If this is the case, they GOI will certainly deduct it from future files. Maybe this is what they have already done in the budget details and so the Kurds are very angry about it?

But how does this affect us and the RV then?

Simply we know that from the Article IV consultations with the UN, Iraq must not only be able to pay, but actually pay them and get it done in a timely and consistent manner.

But here is the real juicy part of all this….

The GOI has taken already 3 months to pay the of salaries without using the legal budget. So the GOI has to pay, to prove to the UN they can do it and actually do it. This is why all the fighting with Kurdistan and urgency to pay them on time. I am sure the UN understands all these issues and is only hoping this 3 months period forced them to iron out all these differences.

So now we are hearing all the Kurdistan salaries will be paid by Thursday 3/29. This may already be completed by the time you read this newsletter. So what else can go wrong?

If this is RV going to happen soon then we might expect to see more educational media from the CBI to inform the citizens of the currency categories and use going forward. This would have to come out in the following days of this week or early next week.

Let’s just sit back and see what happens….I am very excited and so should you since we have waited over 4 three years to get this kind of news.

More news….

What is happening in Parliament on Wednesday?

The House of Representatives has completed the reading and the report of four bills. None of them were of any importance to us and the RV saga.

The House of Representatives adjourned its meeting until further notice, which will be devoted to vote on the conviction or not answers of the ministers questioned ..

So far we have not see any important laws that are needed coming out of these sessions related to the RV saga. However the Presidency of the Parliament indicated the possibility of holding other sessions beyond 3/29 in order to vote on the most important laws pending." This tells me there are more important laws that we may still see. Do they impact the RV?

More news….

{Baghdad: Al-Furat News} The Presidency of the Republic objected to the publication of the Financial Budget Law 2018, in the Official Gazette.

In a letter to the Ministry of Justice, the Director of the Office of the President of the Republic, Nizar Mohammed Said, said that "the ratification and issuance of draft laws is through the Presidency of the Republic, based on the provisions of item {III} of Article {73} of the Constitution and therefore the General Secretariat of the Council of Ministers Or the Iraqi facts department to grant any issued legislation. "

He added that "the Secretariat General of the Council of Ministers, writing to you the publication of the Federal Budget Law for the year 2018, is a clear violation of the provisions of the Constitution and the law of publication in the Official Gazette No. 78 of 1977, and the body that publishes the law without notice of this presidency legal accountability.

Said expressed his hope that the ministry "to approach the Iraqi facts not to publish the law mentioned in the Official Gazette unless it is notified of the publication of the Presidency of the Republic."

The President of the Republic Fuad Masum, announced on 13 March, the re-draft the federal budget bill for the Republic of Iraq for the fiscal year 2018 and voted by the Council on 3/3/2018, to the House of Representatives to re-examine the form and content of the constitutional, legal and financial, Noting that there are about 31 points intersect with the legislation in force. "The Speaker of the House of Representatives Salim al-Jubouri that the draft budget law became a law after the vote by the Council and any remarks can be fixed on the origin of the law and challenged in the Federal Court.

Just in 03/29-

Baghdad today - Baghdad The Minister of Justice, Haider Zamili, on Thursday 3/29, the Ministry's intention to publish the federal budget law for the year 2018 in the Iraqi fact sheet, after the end of the legal period and without the approval of President Fuad Masum. "The ministry is in the final stages of preparing the special edition of the Official Gazette (the Iraqi Chronicle).

3/29- Iraq having press conference saying that the president has decided for the good of the citizens to send the 2018 budget to the gazette for official publication.

More news….

On Wednesday at 12:06 am, the value of the Iraqi dinar against the dollar rose Wednesday by more than 0.41%.

At 12:06 am Baghdad time, the dollar exchange rate against the dinar per 100 dollars was 119,750 dinar,

Just so everyone knows in 2013 when DR Shabibi (then the governor of the CBI) targeted the dinar for reinstatement, the value was 1166 dinars to the dollar. We are in a much better position now then even in 2013, as far as this indicator of value shows.

But I warn everyone reading this article. We are NOT waiting for the program rate to go up and up such as to 1:1 with the dollar before they can reinstate or will reinstate the dinar. I am talking about using the increase in the program rate as being one of many indicators that a reinstatement may be very near.

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Formal Articles are below. Due to FACEBOOK limitations they do not print my RED colored fonts or italics, so my comments are in brackets ( ) throughout the articles. I will preface my comments with “Mnt Goat” so you know I am jumping in with observations. Also, I separated the articles with asterisks.

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Articles Begin

THE RECOVERY OF THE IRAQI DINAR

Samir Nusairi

After great efforts and exceptional by the Central Bank of Iraq during the past two years in the development of monetary policy tools and the specific procedures of the specialized departments in the Central Bank and direct supervision of the banking sector and its assessment and classification in ACCORDANCE WITH INTERNATIONAL STANDARDS in addition to the internal banking operations of banks, which was supporting the implementation of the plans of the Central Bank contributed a large contribution IN THE RECOVERY OF THE IRAQI DINAR IN COMPARISON WITH THE EXCHANGE RATE OF THE US DOLLAR.

This was one of the main reasons for the NEW REGULATORY PROCEDURES USED TO REGULATE THE PROCESS OF SELLING DOLLARS AT THE WINDOW and determine the last beneficiary and the size of middlemen and speculators.

In addition to the banks commitment and cooperation with the Central Bank of the supporting and coordinating role played by the Iraqi private banks association and urged the departments of banks on the need to support the directives of the Central Bank in the service of the national economy and harnessing the potential of private banks in the central purpose of which is to work ON THE RECOVERY OF THE IRAQI DINAR AND RAISE THE VALUE OF CASH AND PURCHASING AGAINST THE US DOLLAR.

It pleases the Iraqi public and strengthens the economic situation and achieve financial and monetary stability. What is important is to work on the continuation of the state of recovery and to take advantage of the economic and investment openness FROM THE COUNTRIES OF THE WORLD TO IRAQ, and especially achieved at the donor countries conference in Kuwait.

*************************************************************

THERE ARE IMPORTANT LAWS DISABLED IN THE PARLIAMENT

Special - Mawazine News

A member of the Legal Committee, Hassan Tauran, on Wednesday, the difficulty of holding parliamentary sessions because of the concern of the deputies of their campaign, while pointing out that THERE ARE IMPORTANT LAWS DISABLED IN THE PARLIAMENT.

"There is a possibility to continue to hold parliamentary sessions to complete the remaining laws in the custody of the Council," Turan told Mawazine News, noting that "the Presidency of the Parliament indicated the possibility of holding other sessions in order to vote on the most important laws pending."

He added that "the pending laws are (the law of property disputes, the law of commissioners) in the Electoral Council," noting that "the difficulty of holding meetings because of the concern of deputies to the electoral campaign."

The Speaker of the House of Representatives, Salim al-Jubouri, today, that the Presidency of the parliament will call for a meeting to complete the vote on the important laws.

*************************************************************

JUBOURI SETS THE DATES FOR THE END OF THE LEGISLATIVE TERM AND THE PARLIAMENTARY SESSION

28/03/2018

Information / Baghdad ..

The Speaker of the House of Representatives Salim al-Jubouri on Wednesday, the dates of the end of the legislative term and the current parliamentary session of the Council, stressing that the Presidency WILL CALL FOR A MEETING TO COMPLETE THE VOTE ON THE REMAINING IMPORTANT LAWS.

Jubouri said in a speech in the House of Representatives followed by / information / that "the current legislative term ends on 30/4-2018 next according to the Constitution and the current parliamentary session ends on 30-6-2018," noting that "the Council can hold a meeting Regular session or exceptional as necessary.”

He added that "the Presidency will call for a meeting in which the completion of voting on the important laws remaining under the custody of the Council."

*************************************************************

US ANNOUNCES IT PROJECTS IN IRAQ

US Ambassador to Iraq Douglas Seelman said Tuesday that projects implemented in cooperation with the United Nations Development Program (UNDP) in the liberated areas of Dahesh are being finalized.

"More than 1,900 small projects have been carried out in the liberated areas and are nearing completion," Sileman said at a conference held at the embassy building. "PROJECTS HAVE CONTRIBUTED TO THE RAPID RESTORATION OF LIFE IN THESE AREAS, such as connecting water and electricity lines, restoring life to medical clinics and demining. On projects to remove slogans and remove debris. "

"These projects are nearing completion in Tikrit, Fallujah and Ramadi but have not been fully completed in Hawija or Mosul except for the left side, as there has been an early and rapid liberalization process," he said.

He stressed that "the continued operations of clearing mines and explosives left by Da'ash in those areas," noting "to remove 30 thousand kilograms of explosives in Ramadi alone."

*************************************************************

Articles End

Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,

Just the FACTS!

Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.

In ending I want everyone to know your constant prayers in the fight against evil (ISIS) in Iraq have worked. God has guided these young men and women on the battle field. Let us all now also keep praying. I have composed a prayer maybe we can all pray today in our own way and until the revaluation occurs.

PRAYER

“For the Iraqi Prime Minister and the President of the United States, that all their cabinet members, and deputies may be anointed by the Holy Spirit to do God’s will and bring the free Republic of Iraq and the United States to the much-deserved prosperity and abundance thru justice and freedom from oppression and corruption”. That they may be a shining example for the rest of the middle east and the world to follow. In the name of Jesus Christ our King and Savior, Amen”

Auf Wiedersehen

Much love to ya all,

Mnt Goat






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Mountain Goatee
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Re: Mountain Goat 3/30/18

Post  Kevind53 on Sat Mar 31, 2018 12:53 am

As usual, you have nothing but a lot of blah, blah, blah ...

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