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 Mountain Goat 4/6/18

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Mountain Goatee
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PostSubject: Mountain Goat 4/6/18   Fri Apr 06, 2018 9:42 am

April 6, 2018 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

So recently the CBI seems to be bragging about the new modernization of their banking systems. This is all good news since it is showing us they have completed this step in the banking reforms.

What amazes me though, is on one hand Iraq claims they want to progress their country forward yet they still embark in these constant delays and stagnation of the parliament to pass the much needed legislation to move this country forward. We witnessed this very slow process in the passing of the budget (something that started on Oct 1st and should have been completed at the latest by Jan 1st) and then this constant fighting over its provisions. Yes, they now brag about all the new banking reforms but gosh it took them seven (7) years to finally implement them as the plan was all laided out going back to 2011. When they finally did begin the reforms it only took them a couple years to complete them. Can you see the problem here?

Of course what happens as a result of this stagnation?

Now we see the 2018 election period has cropped upon them and we know that during this period everything comes to a halt and so it is again.

We see the frustration of the donors from the Kuwait fund raising conference in mid February as they want to come into Iraq now, not 20 years from now or even months from now. They have set conditions for their funding and in today’s news articles many of them are threatening to back-out if these conditions are not met and soon. Some of these conditions are in the new basket of laws Jubouri has been trying to get through parliament. So what the hell does Iraq tell them? They tell them they will have to wait until after the elections. We know the instability the elections can cause and so it could literally be June or July until things settle down post elections and the new government is formed.

This is all of course amazingly stupid politics if you ask me. Here they have $30 billion dollars on the table for reconstruction and they are stalling again. Oh – what about the reinstatement of the currency. I believe right now they have not had a better opportunity to reinstate since 2012-2013 period. Will they also let this one blow by them? oil prices are up, security is under control and political stability is maintained. Why wait any longer and so these issues could arise again. When will they learn?

More news….

Many of you should know by now I take the news that the CBI puts forward as gospel. This has never served us wrongly in our journey of this RV saga. So now the writing is on the wall. We can see that the decision is being made to wait until after the elections to move ahead in many of the items to make this next leap forward for Iraq. Yes, I know we all want the RV and we want it now. The news since December has been terrific but obstacles prevented the CBI from pulling the trigger and so now we have ran into the election period.

What disturbs me is this guy Frank26 and his bullshit. It is one thing to be optimistic and yes we all should look at this investment of something very real and forthcoming. But let’s stop this overly optimistic nonsense. We must still be practical and stick with the FACTS. So Frankie, Frankie I will not “get off your back” as long as you insist on lying to your listeners. Here is some recent crap being put out by Frank26 on his conference calls. I have clarified his nonsense to try to help you better understand.

Frank26: I strongly believe they are done with the RI of their currency and they KNOW this.

Mnt Goat: Yes Frankie they are done with what they have to do for the reforms but the CBI just told us again they are going to wait until after the elections to what happens as they know too that the election period always brings about instability. The CBI has told us many times they need a period of stability to implement the reinstatement process.

Frank26: 1) The process of removing the zero’s is complete!

Mnt Goat: Really Frank? Then how come the banks and the citizens are still using the 3 zero notes and they have not yet launched the newer smaller category notes? I don’t know what the hell you call “complete” but you make this very confusing. The process is simple. First the CBI has to draw in as much as 2/3 of the 3 zero notes out of circulation. We have seen that through the new banking reforms they can now control the money flow. They even told us this. Then there was controlling the rate. Again through the recent reforms the just told us the MCP is also under control. But they have not yet removed the 3 zeros. So why do you tell people this has occurred already?

Frank26: 2) The process of removing the restrictions from their currency is done! Which is Article 8 compliance.

Mnt Goat: This another incorrect statement since the currency is still under the “program rate” and the merchants must still use the “currency auctions” they have not yet lifted or removed the restrictions on their currency. Get it Frankie? They must still convert dinar to US dollars to trade with the outside world. How can you possibly tell us there are no restrictions on their currency? The restrictions may not come from the IMF but certainly they are there under the CBI since they have the final power to release them and reinstate the currency. They have not yet decided to do this.

For all practical purposes they are still operating under a “closed economy” as if still in sanctions, but we know the sanctions are lifted. So yet the potential to move ahead is approved under the IMF but not the CBI.

What are they waiting for? The CBI keeps telling us but many refuse to listen and like Frank26 want to be overly optimistic and jump the gun. This confuses everyone. Don’t tell me you didn’t say it because I have the recording on playback.

As far as being now “fully” Article 8 compliant? Member nations working under Article 8 of the UN Charter are not “compliant”. They simply operate under the guidelines of the Charter if they want to be a member nation. Operating under Article 14 is like a slap on the wrist for being a bad boy. Once sanctions are lifted then Iraq must conform to Article 8 provisions, as stipulated in the rest of the Charter. You see in putting sanctions on a member nation is like saying you are no longer a member in good standing. The UN then places you into Article 14 to operate and how to learn/act like a member nation again. Once you learned your lesson and decide to come back you must earn your way back to the global community. The IMF then progresses you back to operate under the Article 8, as all other nations operate while “good standing” members. This take time and they have these Stand-by-agreements (SBA) stretched out over time and Consultation sessions as the process by which they bring a nation back in-line.

So the FACT is the IMF may feel that Iraq is capable of operating under Article 8 once again, as they have met all their SBA provisions, but until the CBI releases them it is not over. Kind of like the show is not over until the fat lady sings…..lol…lol….

Frank26: 3) The process of reinstating their currency is complete!

Mnt Goat: Really Frankie? This statement made by Frankie really get my goat…no pun intented..lol..lol.. How in hell can he tell people this on his conference calls? If the reinstatement process was completed then the currency would be reinstated and thus on FOREX…right? Is the currency reinstated? NO! Is it now trading on FOREX? Then why tell people this and lie to them?

This is just like TNT telling everyone that just because the banks are selling the IQD again, that the currency is again international and we are just waiting for a rate change. This is also a lie and Frank26 is doing the same thing. He is twisting words. It is not even a matter of semantics as it is plain stupidity on their part since they don’t seem to get the entire picture of what is going on. If they do then they sure don’t show it. Yet they come on their calls multiple times a week confusing everyone with their bullshit and it is upsetting.

Frank26: All that is left is for them to implement this process family. Hence why we said on Monday’s CC there really isn’t anything else to say to you family. I’m done.

Mnt Goat: Well Frankie I am not done with you! So tell me Frankie how do you “implement this process” when you just told us the process was implemented and completed? You said it, your words not mine. Okay so maybe the part of the process is completed and we await for the final steps in the process, that of the CBI to release the reinstatement? Is this what you really meant Frankie?

So it sounds to me you want it to be completed so desperately that you are willing to stick your neck out and tell everyone it is done, knowing that the process is NOT complete, because if it was we would all be at the bank.

Frank26: It is now a day to day, hour to hour wait. Alak told the world, Quote: “WE. . .ARE . . .NOW . . .READY! ” Unquote.

Mnt Goat: Again more talking junk. We are in more like a month by month wait but the clock begins ticking only after the elections are over and the new government is seated. This could literally take until June, July or even longer. So let’s not lead on everyone with false expectations.

Frank26: Alak – it’s not in his control. That’s what actually gives me peace and joy. That we, the IMF, UST, WB are in control. The BOD of the CBI are the ones in charge of divulging the RI of the Iraq Dinar.

Mnt Goat: I disagree Frankie. Well Frankie if the RI is not in the control of the CBI then why has the IMF not pulled the trigger? I thought you said they are in Article 8? I thought you said the process was completed? Do you know that Iraq passed a law last year substantiating once and for all that the CBI is an independent organization and their role? What is their role then? Frank maybe you should read it. You might learn something. Link to the PDF follows:

https://www.cbi.iq/documents/monetary_policy_en_f.pdf

So Frankie please stop giving people unreasonable expectations. The CBI just told us they are going to wait until after the elections to move forward again on the project to delete the zeros. Many don’t want to listen and then you put everyone on this rollercoaster ride. You are the one that is going to look like a jackass later not me when we have to wait so long for it. So what are you going to tell your listeners on your calls over these next 2-3 maybe even 4-5 months when the reinstatement does not happen? Are you going to opening admit you were wrong are refer to this Mnt Goat Newsletter? Are you then going to give them the TRUTH?

I am only trying to help you. SO, FOR NOW THE REINSTATEMENT IS ON-HOLD AGAIN. I don’t know where you get your news from but this news came out way before you Wednesday night call. Didn’t Delta even see this in the Iraqi TV channels? I thought this was his job? Or how about “Walking Dick”? Why didn’t he hear this news? By the way the chairman of the CBI told us they are ready but with caveats that could delay it longer, so please Frankie tell your audience the entire TRUTH.

Hey Frankie…go have a cookie and watch the lava flow…lol..lol..…

I hope this clarifies this news of Frankie. Sorry we must go through this.

More news…

BAGHDAD - The legal expert Tariq Harb, on Friday, that the law of the budget of 2018 goes on to apply even if some of its paragraphs were challenged by the presidency of the Republic or the ministers, noting that the paragraphs that accept the appeal fall out of implementation.

Harb said in a press statement that "after the publication of the budget law in the official newspaper has entered into force and does not impede the application of any new order."

He added that "the appeals made on some paragraphs in the budget by the President of the Republic or in the intention to appeal by the Prime Minister does not disrupt the budget," noting that "in the case of acceptance of the Federal Court, such appeals are void of the budget and will not work with the survival. The budget is in force and open to implementation".

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

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.

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

Articles Begin

PAYMENT SYSTEMS DURING THE PAST PERIOD LED TO A SIGNIFICANT CONTROL OVER THE FLOW OF FUNDS INSIDE IRAQ

The Central Bank of Iraq said that the progress of the work of the Iraqi payment system during the past period led to a significant control over the flow of funds inside Iraq and provide a comprehensive database and accurate on all transfers within the scope of the financial sector and banking, through a group of The measures and precautions that have been implemented and are currently working on, INCLUDING THE MODERNIZATION OF THE PAYMENTS SYSTEM IN ALL ITS COMPONENTS ACCORDING TO INTERNATIONAL STANDARDS.

(Mnt Goat – I really like this article because it is giving an overview of the work the CBI has done to control the money flow. Why are they telling us all this? Are the now bragging that they have a modernized banking system? Why all the articles now about this stuff? Is the CBI telling us again they are done with the banking reforms? This is all stuff they needed prior to the RV. They told us way back in 2011 about this stuff. We have been waiting for it all. This is all very good news just in the fact they are telling us it is now all completed)

RTGS and C-ACH Systems

A statement issued by the bank received the agency {Euphrates News} a copy of it, "This update was aimed at absorbing the increasing volume of transactions that are carried out through this system to be easily compatible with various banking systems, and one of the most important systems operating in the Central Bank, the RTGS system, In 2006 and the C-ACH Clearinghouse System, which was implemented in 2011, which provides a comprehensive database of all transfers for the settlement of electronic instruments and inter-bank payment orders. "

"The central bank has issued a set of instructions and precautions for banks to reduce the risk of exchange of sukuk through the system."

According to the statement, the Central Bank of Iraq, which includes members from within and outside the central bank, will contribute to the development of strategies for the development of payment and settlement systems and follow up their implementation, and to promote international best practices.

IBAN

The Bank has implemented a number of measures including the application of IBAN, which aims to consolidate the bank account numbers of all banks operating in Iraq, which allows banks to verify the validity of the transferred account number. The IBAN number for Iraq consists of 23 positions. Iraq has been INCLUDED IN THE LIST OF COUNTRIES THAT DEAL WITH THE INTERNATIONAL NUMBER, WHICH DOES NOT ACCEPT DOMESTIC OR FOREIGN TRANSFERS EXCEPT WITHIN THE INTERNATIONAL NUMBER OF STANDARDS, and in terms of the precautionary measures taken for the transfer of funds especially in relation to the electronic instruments that are transmitted through the electronic clearing system J and amounts high has been consolidated security specifications for electronic instruments drawn on banks for the purpose of preventing fraud, as well as add new functionality to the system for the purpose of enabling banks and branches of control over the process of sending and receiving instruments and prevent the passing of forged instruments or stolen by adding functionality validation Al instrument by branch drawee.

INTERNAL CLEARING HOUSE SYSTEM

"The Central Bank also implemented the internal clearing system between the branches of the same bank, which enables government banks that do not have a comprehensive banking system to complete all transfers of branches and provide a comprehensive database to conduct the process of matching efficiently between public administrations and branches.

NATIONAL RETAIL BANK (ATM, POS, e-Phone)

The statement pointed out that "one of the important projects that the Central Bank has implemented the infrastructure project of the payment system, which consists of the National Retail Bank, which supports the clearing between banks for transfers by customers and transactions that are using ATM machines and points of sale through cards which is linked to the bank account, and the system of mutual payment by mobile phone, where funds will be transferred through e-wallets without the need for a bank account, and can also make transfers for payment of bills and shopping.

ELECTRONIC PAYMENT SYSTEM (electronic deposits)

He pointed out that "recently came the project of localization of salaries of state employees based on the decisions of the Secretariat of the Council of Ministers No. 313 and 281 to convert the system of payment of salaries to employees, including allocations and benefits to an electronic payment system through the opening of bank accounts for employees in banks (government and civil and branches of foreign banks) A city associated with the account TO WITHDRAW THE SALARY THROUGH ATMS OR THROUGH THE PROCESS OF BUYING FROM POINTS OF SALE AT THE LOWEST POSSIBLE COST, AS WELL AS BENEFIT FROM OTHER BANKING SERVICES SUCH AS {LOANS, ONLINE PURCHASE SERVICES, SAVINGS ACCOUNTS ... ETC), where this project contributed to Fair liquidity within the banking sector and optimize the use of financial and banking services inside and outside Iraq. "

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

“ABADI” AND “MALIKI” AND “ALLAWI” WILL NOT GET THE POST OF PRIME MINISTER AND FAVORITE HADI AL-AMIRI

Baghdad News – Predicted the intellectual and political Hassan al-Alawi, not to get Abadi, Maliki and Allawi to the post of prime minister next, stressing that the next government is destined to remain weak.

Al-Alawi said in a press statement that “the next government is no different from its predecessors and estimated according to international plans to remain weak for the next four years.”

He added that “the reading of the political map confirms that the head of a coalition of state law Nuri al-Maliki and current Prime Minister Haider al-Abadi and the head of the National Coalition Iyad Allawi will not have any of them the next prime minister and won one of the three personalities,” expected that “the prime minister to the head of the coalition Al-Fath Hadi Al-Amri. ”

On the repeated warnings of rigging the elections, Alawi said: “Do not warn him of the fake. ”Prime Minister Haider al-Abadi warned Sunday against buying and selling election cards, which are punishable by 15 years in jail

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

PARLIAMENTARY SERVICES REVEAL THE WITHDRAWAL OF DONOR COUNTRIES AND COMPANIES AT THE "KUWAIT CONFERENCE

Information / Special ...

The Parliamentary Services Committee REVEALED ON WEDNESDAY THE WITHDRAWAL OF A NUMBER OF COMPANIES AND DONOR COUNTRIES who participated in the Kuwait conference for the reconstruction of Iraq. Iraq has said it has demonstrated difficulty of achieving the impossible conditions set by the participating countries.

(Mnt Goat – oh man! They are taking too long implement this! What the hell are they waiting for? It is close to 2 months already since the donor conference. Do they think these companies are going to just sit back and wait while they internally fight over this damn budget and investment laws?)

"There are countries and companies allowed to participate in the Kuwait conference for the reconstruction of Iraq has withdrawn BECAUSE OF THE LACK OF A SOUND INVESTMENT ENVIRONMENT IN THE COUNTRY," said member of the Committee Abdul Hussein Al-Azerjawi told "Information",

"There are countries and companies allowed to participate in the Kuwait conference for the reconstruction of Iraq," pointing out that "THE CONDITIONS SET BY DONOR COUNTRIES IS IMPOSSIBLE AND CAN NOT BE ACHIEVED THROUGH A SHORT PERIOD SUCH AS THE INVESTMENT LAW, which needs to amend the parliament and the House of Representatives has oversaw the legislative life to finish, as well as fight corruption, which needs a long period of time to achieve.

He added that "the amounts given by the future companies and countries for the reconstruction of the areas destroyed by the Dahesh insufficient to the affected areas," noting that "the conference was a propaganda rather than a realistic remedial step, and is likely not to be achieved under the impossible conditions set by the Imam of Iraq."

And between the political expert and confident al-Hashemi, on Monday, that THE OFFERS OF THE KUWAIT CONFERENCE OF THE DONOR STATE WILL TAKE PLACE AFTER THE PARLIAMENTARY ELECTIONS, WHILE HE WARNED OF THE SLOW GOVERNMENT IN THE PLANNING PROCESS AND BUREAUCRACY THAT WILL FRUSTRATE OTHERS AND PUSH THEM TO WITHDRAW.

(Mnt Goat – this above paragraph says it all – “while he warned of the slow government in the planning process and bureaucracy that will frustrate others and push them to withdraw”. Iraq must find a way to breakthrough this bureaucracy and stagnation in the parliament for passing the much needed legislation. Maybe this is part of the list of the laws Jubouri wanted to pass on 3/29 as part of the basket of laws. Now we see what he was trying to do and why.)

It is noteworthy that the "Kuwait International Conference for the Reconstruction of Iraq", hosted by Kuwait between 12 and 14 February, and held with the participation of 76 States and international and regional organizations and 51 of the development funds and 107 local, regional and international non-governmental organizations, as well as 1850 competent private sector, in to collect contributions and assistance needed for the reconstruction of Iraq, and was able to raise amounts worth more than $ 30 billion

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

FIVE-YEAR NATIONAL DEVELOPMENT PLAN - PERIOD 2018-2022.

(Mnt Goat – just remember its election time, so promises will run wide and deap…lol..)

The economic adviser to the Iraqi government revealed the appearance of Mohammed Saleh on Friday that Iraq will see a remarkable change in growth in the coming years with the launch of the five-year plan for the years 2018-2022 , Saleh told Shafak News, "The plan in its objectives and principles development track will translate fact to ACHIEVE AN ANNUAL GROWTH RATE IN GROSS DOMESTIC PRODUCT (GDP) IS MORE THAN 7 PERCENT, compounding welfare by more than double the population growth rate of nearly 3 percent a year. "

"Public and private investments will occupy important axes in maximizing gross domestic product (GDP) on the well-being of the individual in providing employment and employment, and the market share or the private sector in investments will be about 40 percent of the total investment of the five-year plan," he said.

He also praised the role of the private sector in the next five-year plan by "ESTABLISHING THE PRINCIPLE OF PARTNERSHIP BETWEEN THE STATE AND THE PRIVATE sector in investment, production and operation, which all constitute the philosophy of the plan and its principles based on the concept of the social market. Private sector ".

"In addition to the role of the state in financing the market through the development funds that facilitate the conditions for civil projects and address the same time monopolies by sponsoring the competitive activity of the market."

The Cabinet approved in its last meeting headed by Haider Abadi the five-year national development plan for the period 2018-2022.

The Council noted in a statement that "the government approved the new five-year plan, which is based on key axes including:

1)good governance;

2)the private sector;

3)reconstruction in the provinces;

4) alleviation of poverty;

5)focuses on the promotion of productive sectors (agriculture and industry);

6)targeting economic growth of 7 percent;

7)increasing production capacity in the crude oil sector to 6.5 million barrels per day;

8)providing sustainable employment.

Iraq has implemented two five-year plans in the past, the first 2010-2014, and the second 2013-2017, and is preparing to adopt the so-called 2030 development plan.

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 know that there is a new battle now to fight. A battle to save our homelands from the corrupt politicians who are bent on taking what they want from our current wealth and from future generations without our permission. We must keep praying for the end to the rapid corruption in Iraq and in the United States. We must pray for our leaders when they are being guided by the Holy Spirit. We must stand by them and let them know we are still there to support them, even after the election is over. I have composed a prayer maybe we can all pray today in our own way and until the revaluation of the Iraq dinar 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 democracies of the Republic of Iraq and the United States of America 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 to rest of 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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