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 Mnt Goat News Brief 6/22/18

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PostSubject: Mnt Goat News Brief 6/22/18   Fri Jun 22, 2018 9:55 pm

Hi Everyone,

I bring you much news today.

Okay so here we sit with just about 1 week prior to the end of the current Iraqi government. We know the elections took place on May 12th as scheduled but they have been contended by the opposing parties and a funky parliamentary move to influence to the election results by voting and passing a 3rd amendment to the Election Law. This was to force a re-count and possibly re-running the entire voting process in the hope that the results might turn out more in their favor.

Wednesday, June 20th we finally heard back on the Federal Court’s ruling on this subject matter and they ruled that votes taken outside of the country were legal.

Thursday June 21st, the court finds that the House of Representatives to return the counting and sorting, an organizational procedure and NOT IN VIOLATION OF THE PROVISIONS OF THE CONSTITUTION, said the court president Medhat al-Mahmoud in a press conference.

The Supreme Judicial Council, appointed nine judges to the Board of Commissioners (the highest authority in the Independent High Electoral Commission), after the parliament froze the membership of former members of the Council on charges of "failure" to manage the ballot and "collusion" Fraud and manipulation ". These judges will oversee the recounting process.

When will the recounting begin?
We do not yet know but we do know it is only 10 days until the newly elected government is set to begin.

We do know that there is not even a meeting until tomorrow June 23rd to discuss just how the recounting process will work.

The re-counting, whether in whole or in part, it depends on the results of the investigative committees the problem of violations that accompanied the elections and through which will be decided by the Federal Court in the near future.

Please see the articles section for a complete list of the rulings on each of the articles contained in the June 6th Parliamentary 3rd amendment to the Election Law.

A court ruling Thursday allowed Iraq to move forward with an unprecedented hand recount of millions of ballots following a national election that rejected the political establishment but was also marred by fraud allegations.

RE-COUNTING AND MANUAL COUNTING WOULD NOT AFFECT ALLIANCES AND DID NOT EXPECT TO CHANGE THE ELECTION RESULTS

HOW LONG WILL THE RE-COUNT TAKE?

Under ideal conditions, a recount could take AS LITTLE AS 10 DAYS, said Saeed Kakei, an Iraqi electoral commission member. Other Iraqi politicians said the effort could take much longer and lead to fresh challenges and more delays.

Meanwhile the former head of the Electoral Commission, former Adel Lami, said on Thursday, the end of the Electoral Commission of the process of counting and manual counting of the results of the elections WITHIN THREE DAYS, indicating that more than 10 thousand polling staff assigned to complete the process.

Mr. Sadr has begun negotiations to form a government but a prime minister and cabinet cannot be formed until the results are ratified.
His allies opposed the recount effort, calling it an attempt by the election’s losers to steal their victory. But the current prime minister, Haider al-Abadi, whose party underperformed, lent support to the fraud complaints, saying they needed to be taken seriously.

The fraud allegations are centered around electronic counting machines that were used for the first time in this election. Most of the fraud allegations have been directed against political parties from Iraq’s Sunni and Kurdish minorities.

The recount will be overseen by a panel of judges appointed to replace Iraq’s electoral commission, which was widely discredited by its handling of the election.

Iraqi political analyst Ali Fadhlallah said the Supreme Court had set a dangerous precedent by endorsing the recount: “The federal court decision today opens the door wide for parliaments in coming elections to control results,” he said. “I believe this is a political issue and should be dealt with politically.”

WHAT HAPPENS TO THE GOVT IF THE RECOUNT IS NOT COMPLETED BY JULY 1ST?

I do not see any strong signs preparations being made if this is the case. I do not believe this will run past July 1st. In any case if it should, there is a constitutional provision to form a “provisional” government. It would consist of the extension timeframe of the existing government which essentially would continue “indefinitely” until the voting issues are resolved. This may sound like a good thing, but I assure you it is not. It would impede the reform process in Iraq and could set them back months. The fear is once the provisional govt is implemented, these charlatans will impede any progress to move forward with the Sadr’s reforms.

A COMPLETE RE-VOTING PROCESS WILL NOT OCCUR SAID IRAQ’S SUPREME FEDERAL COURT HAS RULED
ERBIL, Kurdistan Region – Iraq’s Supreme Federal Court has ruled parliament’s decision to manually recount votes cast in the May 12 election is constitutional, but the annulment of IDP, diaspora, and advance votes is not. The decision was welcomed by Kurdish parties, calling it a “healthy step” towards restoring faith in the country’s political process.
More news….

Implementation of the economic reforms is expected immediately following the announcement of the validated election results, the announcement of the new prime minister and the placement of the new Parliament members.

The country has been in a two-week awareness campaign of the new changes by posting the newer category notes in banks, on billboards and on television stations for all to see. No date of launching has been announced but it appears something s coming very soon.

(Mnt Goat – sounds like a partial recount of just the provinces or cities where the fraud and manipulation took place (where complaints came from). I think this is mostly in the Kurdistan region. The Kurds strike again…lol..lol..)

More news….

CATCHING THE CULPRITS

June 22nd, just 2 days later after the court ruled on the constitutionality of the 3rd amendment.

The latest news is all about the frauds that marred the Iraqi elections and Iranian interventions to cover them, split the Iraqi political forces into two teams. The names of those involved WILL BE REVEALED IN THE COMING DAYS.

More news….

FLOAT vs PEG (interesting…)

Again Kaperoni insists that the dinar will not be revalued and that it is not even going to go through a reinstatement. He believes the market will drive up the value of the dinar. Technically he may be right about the “revaluation” if you want to mix words and play with semantics. Sure I too believe there is not a planned “revaluation” from the sense of the IMF terminology.

Rather the term “revaluation” most of us are now using is being used to mean ANY substantial increase in the value of the dinar worth going to the bank to exchange. In other words, some kind of return on my investment.

But here is the important part now that we over these semantics of Kap. How will the IMF re-peg the dinar to the SDR basket of 5 currencies without adjusting the rate? I don’t know and I am challenging Kaperoni to come up with the answer for us seeing he is so smart and persistent in his analysis. So let’s look at what Kaperoni is telling everyone and see if we can make some sense out of it.

Kaperoni (Dinar Guru) – When you reintegrate with the world’s Financial system you must exit the peg and move to a float particularly in Iraq’s instance this is important. The reason being as capital flows through the central banks Capital Account it will create inflation in the country. To counter such inflation being on a float allows the CBI to compensate by allowing the currency to appreciate. This is well-documented. The hope is that the currency will rise fast as a result of significant investment in the country and has been stated as the Balassa-Samuelson effect. If one is to believe the statement from the overview of Iraqi Finance 2018 they have significant investment lined up to come into the country. Many people have challenged me over the years to provide credentials. My response was I’m not asking anyone to put trust in what I say but to validate what I say in the very documents that I reference.

Mnt Goat – I tend to like Kaperoni because he is a good researcher and tries very hard to keep things factual and accurate. However, Kaperoni is missing essential factors that are involved in establishing the value of the dinar that may be a bit outside of the text books. I do not agree with his analysis and he should go back to do more research and study on this issue of a Float vs Peg. Let me explain.

I don’t know if he realizes that the “peg” that the Iraqi dinar is currently on is a “de facto” peg, pegged to the US dollar only. This was done in order to take a temporary measure to keep the dinar from crashing in 2003. The intent was and has been since to get off this peg and revert to an SDR basket of 5 currencies for the peg. But circumstances in Iraq has not yet allowed this happen.

A currency, any currency, must be pegged to something to stabilize it’s value thus something to relate it to. Putting the dinar on a float and pegging the dinar are entirely two different things. Get it? It is not one or the other, as Kap claims, but BOTH. In his statement above he states to move from a peg to a float. Really? What the hell is he talking about? So, let me explain even more.

A currency can still be pegged and the also placed on a managed float at the same time. These are two different tools. The float allows for ease of fluctuations in the rate as demand suggests in the market. A peg is used to attach a currency to another country’s currency (or countries currencies) to stabilize it’s value and spread the risk (so that if one fails the others still maintain some value and they all don’t crash).

Thus, the dinar is still to be pegged (and must be pegged to something) and yet can still be put on a float.

The IMF has told us many times they fully intent to peg the dinar on an SDR basket of 5 currencies initially and then allow it to go on a managed free float. So, I really don’t see why he is even debating this with anyone. This is all spelled out already by the CBI years ago what they intend to do.

But the important part here I want to emphasize is that when the CBI changes over from the de-facto peg of just the US dollar to the SDR basket, a new rate must be re-established according to the new peg, the SDR basket. Since the de facto peg back in 2003 was at first just to stabilize the dinar and prevent a crash crisis from happening. This new peg to the SDR is permanent while the de facto peg was a temporary measure. This new peg adjustment to the rate is the rate everyone is talking about when they refer to an RV. An RV is a generic term we all use to mean a significant value change in the dinar. We are not necessarily referring to the strict definition of a revaluation in terms of the IMF.

PEG DEFINED: A currency peg is a country or government's exchange-rate policy of attaching, or pegging, the central bank's rate of exchange to another country's currency.

FLOAT DEFINED: A currency whose value is determined by the free market. That is, the value of a floating currency changes constantly depending on the supply and demand for that currency, as well as the amount of the currency held in foreign reserves.

So how in hell can Iraq possibly change over to a new SDR basket of 5 of the major developed countries, put the dinar back on the global exchanges with a rate of 1/10 of a cent? Oh – but there are also other factors too to consider that Kap completely missing in his studies. I now want to review his comments on one of the forums and clarify.

Kaperoni (Dinar Guru) – How are you going to control inflation when large sums of money come into a country if you’re not going to float your currency? All anyone needs to do is…read two or three of the documents from the IMF on the transition from fixed to float to understand how currency reform works. You cannot be pegged when large influxes of capital flow through the CBI, the only alternative to being pegged is a float. This is not guesswork, the IMF themselves told the CBI back in 2012 when they were about to transition the move to a more liberal exchange rate regime. The very definition of that is a float…we see the CBI follow the IMF time after time. Considering the IMF has an agreement with the CBI for monetary reform as well as trusteeship over the CBI the chances are very good that they’ll follow what they recommend.

Mnt Goat – Again I am saying no one should question that the dinar is going to float. The real question is that the float is not the entire set of tools the CBI can use to control inflation. Inflation is adjust primary by money supply. Put more money on the streets inflation rises, put less and deflation occurs. Kaperoni says currencies get pegged to a float? This is not accurate since currencies get pegged to baskets of currencies or single currencies. They do not get “pegged” to a float. I did read the IMF documents and clearly understand how Floats vs Pegs work. Sorry Kaperoni go back and do some homework.

So Kap asked everyone – “How are you going to control inflation when large sums of money come into a country if you’re not going to float your currency?”

Kap since you asked here are some other ways a country can control inflation. So your reasoning to justify your stance is not a sound one.

1.use a managed float
2.peg the currency to another stable currency (or basket of currencies)
3.the banks can change their interest rates charged
4.through minimum wage adjustments
5.through a contractionary monetary policy
6.Govt simply printing more money or shrinking the money supply
7.Increae or decrease taxation
8.Enacting or repealing trade tariffs
9.I can think of a dozen more…..

Okay so it appears that Kap is refusing to believe that when Iraq reinstates it’s currency (he doesn’t even believe it will reinstate..lol..lol..) that the CBI is just going to float the 1190 rate and let the markets adjust it up or down based on a FLOAT. He believes the float works like a peg. He is saying it may take a year or more to get to the rates we are hearing of $4.00+. Really? All wrong! So, let’s look at what really is going to happen and I present 100% proof this is still true today.

More proof Kaperoni is dead wrong!

Here’s more….

So, a German company namely Bertelsmann Stiftung, did a currency analysis of Iraq from 2015 to 2017.

link to the report: (see it for yourself)
https://www.bti-project.org/…/country-repor…/detail/itc/irq/

Click on the link and if you scroll down to currency and price stability, they state this –

“The independence of the CBI suffered a setback in January 2011 when former Prime Minister al-Maliki won a court ruling that placed independent institutions, including the CBI, under the control of the cabinet” .

“In January 2012, the CBI raised the exchange rate of the Iraqi dinar to $1.19, causing a huge crisis that led the Supreme Judicial Council to issue an arrest warrant for CBI governor Sinan al-Shabibi in October 2012 on charges of corruption. Al-Shabibi received a seven-year prison sentence in absentia 2014, shortly before being acquitted of all charges.”

“The difference between the official and parallel exchange increased from three percent in 2015 to nine percent in May 2016. The CBI introduced a number of policies to keep inflation low. The dinar remained widely stable and was worth $1.71 in early 2017.”

So this report from the German company Bertelsmann Stiftung is telling us the CBI does NOT intend to float the currency starting from the 1190 CBI rate. Next it tells us some kind of significant increase ($1.17-1.71 or ?) is going to happen from day 1 on the reinstatement, then this starting rate will by the launching rate on the global currency exchanges namely FOREX.

Thus, as Kap says, it is not going to take years or even months to get to a significant value rise that we want to go to the bank. It is going to come right out of the gate with a substantial increase in value probably very close to $1.80 - $2.00 or a bit higher now that all the reforms are in place.

So tell me this Kap- What good are these new category notes (1,2,5,10,50,100,200,500) as they would be worthless to the citizens if the rate was put at 1190 when reinstated?

Next tell me this -

Why did the CBI decrease the money supply of dinars already if not to prepare to control the money supply (decrease it). This is a proactive inflationary measure for what is to come.

Why did the CBI modernize the banking system to electronic banking and POS if not to limit the money supply and be able to control it for inflation later.

Why sell (distribute) the newer category notes (fils, 1,2,5,10,50,100, 200,500) to the banks if they did not intend to use them very soon? This is capital the banks now have tied up. We were told in an article last November that over the period Nov 2016 thru Nov 2017 the CBI has been distributing the newer category notes to the banks. What is this all for if not to significantly raise the value?

More news….

Just out this week-

WARNING…WARNING…WARNING

Zimbabwe is in arrears of $1,2 billion to the World Bank and has already mobilized the funds to pay off its arrears.

However, the Government first wanted a commitment from the Bretton Woods institution on the loans that it could access after paying.

The Zimbabwean Government had since 1999 been unable to borrow from the international capital markets after it defaulted on its external debt.
While the country in 2016 cleared its arrears to the International Monetary Fund (IMF), it is still in arrears of $1,8 billion to the World Bank and the African Development Bank.

And you actually think that you are going to walk into a bank and they are going to exchange an expired, defuncted, hyper - inflated currency, now considered and sold as a “collectors” item. Really? But this is not the worst part. Many of you actually believe you are going to get trillions in your bank account upon exchange. Now how ridiculous can you get?

Maybe you need brain surgery too or to stop listening to these idiots who are telling you this nonsense. I suggest you stop purchasing these collectors items now and so your disappointment later will be much less. This all part of this GCR scam to justify these kinds of ridiculous claims for the revaluation of these defunct currencies. Get it? They have to justify it somehow. Now that I debunked their ridiculous claim of these notes being a “bond” let’s see what else they try next to convince you to buy them.

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

RE-COUNTING AND MANUAL COUNTING WOULD NOT AFFECT ALLIANCES AND DID NOT EXPECT TO CHANGE THE ELECTION RESULTS

Baghdad / Al-Ghad Press:

Ahmed al-Assadi, spokesman for the Fatah coalition, said on Thursday that re-counting and manual counting would not affect alliances and did not expect to change the election results.

Al-Asadi told Al-Ghad Press that "we support all the decisions issued by the judiciary and the Federal Court and demanded from the beginning that the counting and sorting 5% to reassure partners in the political process as well as not to cancel the results of abroad, but only to prove fraud."

He stressed that "will not get a constitutional vacuum, but turn the government to the conduct of business without oversight of the House of Representatives and not the right to take any decision and we hope that does not prolong the process of counting and sorting," noting "We are waiting for a detailed explanation on how to conduct the counting and sorting."

"The re-counting and manual counting will not affect the process of alliances that have occurred and I do not expect there will be a major change in the results."

The Commission of Commissioners Commission on Thursday decided to consider Saturday as an official term for all employees of the Electoral Commission, and to prevent all vacations for all employees except emergency cases, in preparation for the application of the decision of the Federal Court count and manual counting.

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

SOURCE: ABADI WILL REVEAL DOCUMENTS AND CONFESSIONS OF A PHOTOGRAPHER TO PROVE THE OCCURRENCE OF “BIG FRAUD” IN THE ELECTIONS WITHIN TWO DAYS

Baghdad today – The newspaper “Gulf News” in a report published on Tuesday, that the Prime Minister Haider Abadi, will inform the political blocs during the next two days, evidence of the rigorously large parliamentary elections that took place on 12 May.

The newspaper said in its report that “the frauds that marred the Iraqi elections and Iranian interventions to cover them, split the Iraqi political forces into two teams. Support team to investigate all suspicions of fraud, and a team impelled to pass the elections and the threat of a security collapse in case not passed.

She added that “while the legal committee in the Iraqi parliament revealed the real reason for the delay of the judicial committees to start the counting and manual counting, described close to Vice President Nuri al-Maliki, the call of Ammar al-Hakim to pass the elections as an attempt to cover the fraud and pressure on the judiciary to challenge In any procedure to detect counterfeiters. ”

The newspaper quoted a member of the legal committee in the Iraqi parliament, Sadik al-Laban, that “the judicial committees that were formed to re-counting and sorting manually did not start work yet because the Federal Court did not resolve its position on the appeals made by political blocs against the amendment of the election law approved by the House of Representatives, “If the court challenges the law, the elections will recognize the violations and serious violations.”

“The Iraqi prime minister will present to the leaders of the political blocs during the next two days photographic documents, certificates and confessions of the staff of the Commission, all of which prove the extent of violations and fraud and violations that affected the voting process.”
The source of the newspaper, that “the fact-finding committee on the fire that lasted the ballot boxes in the Rusafa area has reached important results and that it has documents proving the evidence of those involved in the fire.”

The newspaper quoted the head of the committee, Adel Nuri, that “his committee will not disclose the names of those involved for reasons related to the conduct of the investigation, but the source close to Abadi confirmed that the latter will surprise the leaders of the blocks with shocking facts about the fraud and fire that followed, and what will reveal Abadi will change the map of alliances because “Katala will lose a lot of its seats and the winners will be referred to the courts.”

And formed blocks calling for the passage of elections and not to take the counting and sorting, according to the newspaper, “the broad coalition included both a coalition under the auspices of Sadr and the opening led by Hadi al-Amiri and the Patriotic Union of Kurdistan, and the stream of wisdom led by Ammar al-Hakim.”

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

FACT-FINDING COMMITTEE: INFLUENTIAL PEOPLE PLOTTED BURNING OF BALLOT BOXES

Head of Iraqi Parliamentary Fact-Finding Committee Adel Nouri:
The cause of fire that broke out at a warehouse belonging to High Electoral Committee (HEC) at Al Rusafa district in Baghdad, which contained ballot boxes has been revealed according to Iraqi Parliament’s fact-finding committee.

Head of Iraqi Parliamentary Fact-Finding Committee Adel Nouri stressed his committee submitted information, which he described as important to the committee tasked with investigating the fire that broke out at HEC’s warehouses in Al Rusafa.

Nouri pointed out that his committee gathered vital information about the cause of the fire and the parties involved in it.

He explained that his committee is working with great efforts in coordination with the government committee formed to investigate the causes of the fire, underlining that his committee has direct contact with Iraqi Prime Minister Haider al Abadi in this regard, noting that his committee provided important information about the incident to the government committee.

He underscored that the joint investigative committee has reached important and advanced results in the causes of the fire and the parties involved in it, adding that the investigations led to the arrest of a group of perpetrators and suspects of the fire WHO ARE AMONG THE INFLUENTIAL PEOPLE IN IRAQ.

Nouri stressed the sensitivity of the subject and its direct impact on the political process prevented the committee from disclosing the details, including names or entities involved in the incident, until the completion of the investigation.

He indicated that some parties who were involved in the Parliamentary elections had committed fraud in some provinces and to cover-up their crime they attempted to burn ballot boxes, especially after failing to win seats in the parliament.

Fraud have occurred in the elections with the aim of supporting militias to gain parliamentary seats and manipulate the will of the Iraqis, adding that the attempt TO BURN BALLOT BOXES IS A COVER-UP OF THE FRAUD THAT HAVE BEEN COMMITTED, according to observers.

Observers told The Baghdad Post THAT ONCE THE PARLIAMENTARY FACT-FINDING COMMITTEE HAS COMPLETED ITS WORK, THE DETAILS OF ITS FINDINGS AND SHOCKING FACTS ABOUT THOSE WHO RIGGED THE ELECTIONS AND PLANNED THE BURNING OF BALLOT BOXES WILL BE REVEALED, adding that ALL EVIDENCE LEAD TO IRAN AND ITS AGENTS IN IRAQ.

The Parliamentary elections was marked by record low turnout. It was the first since Iraq declared victory over the ISIS group and the fourth since the 2003 US-led invasion that toppled Saddam Hussein.

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

DECISION OF THE FEDERAL COURT, ON APPEALS FILED ON THE THIRD AMENDMENT TO THE LAW OF PARLIAMENTARY ELECTIONS

Baghdad today - Baghdad Baghdad (today) obtained the full text of the decision of the Federal Court, on appeals filed on the third amendment to the law of parliamentary elections, which approved the legality of .all its articles, except for one article only

the 18 pages are in Arabic for now and not copy and pasteable, and they even show the signatures too

The documents show appeals from the Presidency of the Republic, the Kurdistan Democratic Party and the Council of Commissioners of the Independent High Electoral Commission, .where the Federal Court responded by a binding decision, binding on all parties

The Federal Court approved earlier on Thursday the constitutionality of all the articles of the third amendment law of the electoral law, which was legislated by the House of Representatives on June 6, while the third article on the abolition of votes of voters abroad and displaced and the movement of population in four provinces and the special vote in the .Kurdistan region
:The Court separated the articles of the law, to decide on each hand, and came as follows:

Article 1) of the Third Amendment Law on the Law of Elections of the Council of) Representatives, (replaced Article 38 of the Law of the House of Representatives, replacing the method of counting and sorting to the hand, in the whole of Iraq), the Court finds that the direction of Parliament is a regulatory action, This trend is not contrary to the provisions of the Constitution.

Ruling: Constitutional, appeal not granted

Article 2) of the Third Amendment Law on the Law of Elections of the Chamber of Deputies, which states that (the Commission must implement the application of the ballot papers of the report issued by the electronic investigation and take the necessary decisions thereon, the Court finds that this procedure is not contrary to the Constitution.

Ruling: Constitutional, appeal not granted

Article 3), which abolishes the elections abroad, the elections of the displaced in the camps,) and the special vote in the Kurdistan region, the cancellation of these results in absolute terms, without discrimination, whether this was done by the accelerator or other, this cancellation is a waste of votes, Contrary to the constitution and the citizen's right to equality, .nomination, voting, and opinion in the general elections. As for the results of the fraud, the announcement of their results can be postponed until they are finally decided. On the other hand, in Article 3, the abolition of votes without .discrimination violates Article 14 of the Constitution.

Ruling: Unconstitutional, repealed

Article 4) of the Third Amendment Law on the Law of Elections of the Council of) Representatives, which states that (in the event of irregularities requiring the cancellation of some of the results of the elections, the judiciary may cancel these results), the court finds that the provision contained in article 4 of the law does not violate Provisions of the Constitution.

Ruling: Constitutional, appeal not granted

Article 5), which provides for the assignment of 9 commissioners, instead of the Board of Commissioners, and the duration of the term not exceeding three years, this article constitutes an amendment to Article 49 of the Law on Judicial Organization. In addition, Articles 47 and 98 of the Constitution.

Ruling: Constitutional, appeal not granted

Article 6), which makes Iraq for the seats (quota) one circle, it is a regulatory issue does not violate the Constitution

Ruling: Constitutional, appeal not granted

Article 7) The provisions of the third amendment to the 2018 elections shall apply to the fact that the elections are not yet complete and therefore do not constitute a violation of the Constitution.

Ruling: Constitutional, appeal not granted

Article 8), which stipulates that no provision of the law is inconsistent with the provisions of the Third Amendment to the Elections Law, which does not violate the provisions of the Constitution.

Ruling: Constitutional, appeal not granted

The Court stated that, based on the foregoing, when reviewing appeals, the promulgation of the Act as procedural aspects, or appeals contained in the articles of the Act, the Federal:

Court decided (Summary)

First: Article 3 is unconstitutional and repealed for violating articles 14, 20 and 38 of the Constitution, respecting the will of the voter and not wasting his vote

Second: Matching the rest of the articles of the Third Amendment Law to the Law of Elections of the Council of Representatives to the provisions of the Constitution.

Thirdly, the two sides should bring the costs of the cases in the three cases, amounting to 100 thousand dinars only. The court concluded that the ruling was issued by the court, binding on all parties, by agreement, and was followed publicly in the session of 21 June.

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

THE FEDERAL COURT WILL CANCEL THE THIRD ARTICLE OF THE THIRD AMENDMENT LAW IN THE LAW OF THE ELECTIONS OF THE HOUSE OF REPRESENTATIVES

BAGHDAD / The parliamentary legal committee confirmed on Wednesday that the Federal Court will cancel the third article of the Third Amendment Law in the law of the elections of the House of Representatives, which provides for the cancellation of elections abroad, INDICATING THAT THE PARLIAMENT VIOLATED THE CONSTITUTION BY CANCELING THE ELECTION RESULTS.

Saadoun said in an interview with him today: "THE FEDERAL COURT WILL REPEAL ARTICLE III OF THE THIRD AMENDMENT LAW to the amended law of the House of Representatives in the parliament, which provides for the cancellation of the results of the elections abroad and the special vote," noting that "Article 61 of the Constitution did not grant the right to legislative authority to cancel the results of the elections, but its task to legislate and amend the laws and can not cancel. "

He added that "the re-counting, whether in whole or in part, it depends on the results of the investigative committees the problem of violations that accompanied the elections and through which will decide the Federal Court."

The recall of the decision of the parliament on the elections abroad will lead to the rise of the failed in the elections, Hamoudi, Abbas al-Bayati and Salim al-Jubouri) and others from the list of whales of corruption.

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WILL WITNESS IN THE COMING DAYS A MEETING BETWEEN THE BLOCS, THE CONQUEST, VICTORY, A COALITION OF STATE LAW, AND THE STREAM OF NATIONAL WISDOM, TO DISCUSS (3) FILES FOR THE FORMATION OF THE NEXT GOVERNMENT

Baghdad today - follow-up Al-Sabah newspaper semi-official said in a report published on Thursday that Baghdad will witness in the coming days a meeting between the blocs, the conquest, victory, a coalition of state law, and the stream of national wisdom, to discuss (3) files for the formation of the .next government According to the sources said that "is scheduled to hold five blocks of a meeting in Baghdad ".to discuss three files, including the formation of the new government.

The blocs are all: the coalition," Surson "supported by the leader of the Sadrist movement" Moqtada al-Sadr, and the alliance" conquest "led by Hadi al-Ameri, and the coalition" victory "led by Prime Minister Haider Abadi, and a coalition of law led by Vice President Nuri al-Maliki, " ."Wisdom" headed by Ammar al-Hakim.

In the same context, revealed the newspaper "the new Arab", in a report published on Thursday, close to the arrival of the leader of the Sadrist movement Moqtada al-Sadr, to Baghdad, to attend a meeting of the hope to sign the blocks wishing to join the "national . "space" a "document of honor
The newspaper quoted the Iraqi political sources in Baghdad, "Sadr will arrive in Baghdad again to attend a meeting with Shiite political leaders, to discuss a document of honor expected by the political blocs wishing to join the alliance, headed by Sadr and the opening ." headed by Hadi al-Amiri, Comprehensive government According to the sources, "Sadr's upcoming visit will announce the features of the largest bloc ".of Baghdad.

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IRAQ’S SUPREME FEDERAL COURT HAS RULED PARLIAMENT’S DECISION TO MANUALLY RECOUNT VOTES CAST IN THE MAY 12 ELECTION IS CONSTITUTIONAL, BUT THE ANNULMENT OF IDP, DIASPORA, AND ADVANCE VOTES IS NOT.

ERBIL, Kurdistan Region – Iraq’s Supreme Federal Court has ruled parliament’s decision to manually recount votes cast in the May 12 election is constitutional, but the annulment of IDP, diaspora, and advance votes is not.

The decision was welcomed by Kurdish parties, calling it a “healthy step” towards restoring faith in the country’s political process.

On June 6, the Iraqi parliament decreed a manual recount of 100 percent of votes, the annulment of IDP, diaspora, and advance votes, and the removal of commissioners from Iraq’s High Independent Electoral Commission (IHEC) and their replacement with nine judges.

Parliament called for the manual recount after allegations of the electronic voting system being hacked and other irregularities with the system that was new to Iraq.

According the court's ruling on Thursday, IDP, diaspora, and advance votes should now be counted toward the final election result unless evidence of fraud is submitted.

The Iraqi parliament is expected to meet on Friday to discuss the ruling.

Politics in hands of ‘power hungry’

Muqtada al-Sadr, the head of the Sayirun bloc that garnered the most votes, expressed concern that a re-do of the election, if this is the conclusion reached after the manual recount, would increase public apathy towards politics.

However, he advised all parties to abide by the law, even if they aren’t convinced by it, and called on the judiciary to remain neutral when doing the manual recount.

He also warned against taking too long to complete the manual recount.

“In case of a delay in the manual recount until July 1st of this year, the government has to adhere to the law and not extend its jurisdiction and not take advantage of the constitutional limbo,” Sadr said in a statement on Thursday.

Incumbent Prime Minister Haider al-Abadi had pointed out the day before that the results are not considered final until the supreme court ratifies them. Until then, his government will continue to work with Abadi insisting there is no power vacuum.

Sadr advised government ministries, especially the service-oriented ones, to continue working so that political and electoral rivalries “don’t exacerbate the suffering of the nation.”

Sadr’s Sayirun bloc ran on a cross-sectarian and reform-minded platform. Though no party was given a strong mandate by voters, Sadr emerged as the victor and his position initially appeared robust as he engaged in talks with parties from across the spectrum.

His alliance with Sunni leaders, however, took a hit when he made overtures with Shiite parties that have ties to Iranian-backed militias.

Sadr on Thursday called on political blocs to move forward towards “serious dialogue to obtain the proper alliances” for real reform.

While he did insist that “reform will be victorious” and hopes a manual recount will not pave the way for the “return of the corrupt,” he lamented that the political process has fallen into the hands of “the corrupt and the power hungry.”

Kurdish, Turkmen parties declare ‘victory’

“Thank God, the federal court accepted what we had appealed against and called for. It annulled the decision made by the parliament,” Ismael Mandalawi, the Kurdistan Democratic Party (KDP)’s lawyer told Rudaw.

“We as KDP’s lawyers submitted our request to annul article three of law 45 in which there is injustice toward the Peshmerga [and] IDPs. Thank God, the federal court accepted what we stressed and rejected the decision,” he added.

Rebwar Taha, a Patriotic Union of Kurdistan (PUK) member of the Iraqi parliament, told Rudaw: “Revoking the section which called for the annulment of the votes of Peshmerga and Kurdistan Region’s security forces was important for us. Thank God, through our lawyers, we could convince the court that this is unconstitutional and illegal. Now the votes of the Peshmerga and Asayish will not be annulled, which they wanted to revoke. This is very important for us.”

Six Kurdish parties led the objections to the election results – Gorran, KIU, CDJ, Komal, Kurdistan Communist Party, and the Kurdistan Islamic Movement – calling themselves the dissatisfied parties. They have also welcomed the court’s decision.

“From the viewpoint of considering ourselves the guardians of the law and the people’s vote, we respect the decision of the federal court, including the recount of Peshmerga, interior forces, diaspora, and IDP votes,” read a statement from them.

The parties said that they will monitor the manual recount, noting that the ballot boxes haven’t been under the auspices of their representatives for some time now.

Hasan Toran, deputy head of the Iraqi Turkmen Front, said in a statement: “The Iraqi Turkmen Front welcomes the verdict by the federal court on the third amendment of the election law. It is a victory for the will of the Iraqi people. We reject this fraud committed in the parliamentary election, especially in the province of Kirkuk. This is a revolution to shame fraudsters.”

Ahmad Haji Rashid, head of Komal bloc in the Iraqi parliament, told Rudaw: “We welcome the decision ruled by the court and deem it a success. We congratulate the federal court that worked professionally and independently. And we believe in the verdict by the court.”

Arafat Karam, head of the KDP faction in the Iraqi parliament, told Rudaw: “The verdict by the federal court on early voting is good news.”

Muthana Amin, head of Kurdistan Islamic Union (KIU) bloc in the Iraqi parliament, told Rudaw: “The federal court has taken into account the political situation of Iraq following the election and taken a healthy direction to restore the political process.”

Amin characterized the verdict ruled by the federal court as “a good victory for the will of the people.”

Head of the CDJ and former KRG prime minister Barham Salih described the court decision as an “important start to protect the votes of the electorate and we hope it will lead to radically addressing the dangerous violations that surrounded the elections."

But success depends on “the cooperation of specific parties,” he noted on Twitter.

"What is important is to return confidence in the democratic process” through a process that will reveal what violations occurred, he stated.

"We see that a national dialogue in Kurdistan and on the level of Iraq is needed for total settlement and agreement on a roadmap that could get us out of this catastrophic cycle, on the basis of respecting the rights of the citizens, rule of law, and protection of societal peace," Salih argued.

The UN mission in Iraq reacted to the court ruling, again offering its assistance.

UN envoy Jan Kubis “is confident that the Board of Judges will develop such modalities of recount that will enable them to conduct the work as expeditiously as possible and in a fully transparent way, that will increase public confidence in the election process, enhance its integrity, deliver electoral justice and contribute to the legitimacy of the results of the elections,” read a statement issued by UNAMI

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CALLS ON BANKS TO ACT QUICKLY TO AVOID THE CAUSES AND EFFECTS OF POTENTIAL CRISES BY RETURNING TO INCOME-PRODUCING BANKING PRODUCTS AND NOT RELYING ON THE CURRENCY WINDOW FOREVER

Author: ياسر المطولي

20/6/2018

The financial crises that hit the countries of the world without exception are many and their effects varied between state and another depending on the hedges and actions taken by the monetary authorities and the executive bodies of the government to counter these effects and try to overcome them or reduce the effects of pain.

Perhaps most of the economies of the world are concerned about the storms of these crises, which occur from time to time, so that all concerned parties, especially the monetary policy and those who are represented by central banks are dedicated to avoid the adverse effects of the financial crisis in a particular country, and to talk. This introduction was marketed after the emergence of a crisis of liquidity may be exposed to private banks felt by the Association of banks as a result of the inevitable and expected, because the dollar and the likelihood behind these fears.

Two months ago, she warned that THERE WOULD BE AN IMPACT ON BANKING ACTIVITY BECAUSE OF THE STABILITY OF THE DOLLAR EXCHANGE RATE AT THE SAME BORDER WITH THE PARALLEL PRICE IN THE MARKET, which will CAUSE A REDUCTION IN THE RATE OF RETURN "PROFITS" OBTAINED BY BANKS.

(Mnt Goat – she is talking about the CBI rate of the dinar changed down to 1190 2 months ago, so less money being made at the banks during the currency auctions (selling of dollars)

Since MOST BANKS HAVE RELIED ENTIRELY ON THE CURRENCY WINDOW IN THE FULFILLMENT OF ALL THEIR OBLIGATIONS AND VARIOUS EXPENSES on the volume of return, was alert that the situation foreshadowing the possibility of the collapse of some banks and their loss and exit from the market.

And it seems that the continuation of the exchange rate at this limit has been affected, and that these risks have stimulated the Association of Banks to search for the means that work to continue in the market, and as one of the most important duties of the Central Bank of Iraq to hedge any potential crisis may urge banks, To hear the views and proposals of the Association on them and based in light of the conditions of banks and what passes by to be a solution at hand.

All THE MEASURES ARE POSSIBLE AND AVAILABLE TO THE CENTRAL BANK TO RESCUE BANKS FROM THE RISKS AND TRIBULATIONS; but the question is more important to what time periods can the central bank, and when exhausted all the means available to the central what to do?

In this case, BANKS SHOULD RECONSIDER THEIR ACTIVITIES AND PRODUCTS IN ORDER TO REMAIN IN THE MARKET. Otherwise, the situation foreshadows the collapse of banks that can not arrange their positions.

This CALLS ON BANKS TO ACT QUICKLY TO AVOID THE CAUSES AND EFFECTS OF POTENTIAL CRISES BY RETURNING TO INCOME-PRODUCING BANKING PRODUCTS and NOT RELYING ON THE CURRENCY WINDOW FOREVER.

The banks are also invited to take into account the objectives of the Association in cooperation with the Central Bank behind the adherence to the program of financial inclusion and try to make the most of the revenues that may enrich them in the future revenues of the window even though less but do not allow to leave the market.

(Mnt Goat – so basically this article is all about the currency window and how the banks are overlying on the money they are making off it. The author is saying its time to stop relying so much on the currency window for revenue and diversify into other products to generate revenue for the banks. I quote – “NOT RELYING ON THE CURRENCY WINDOW FOREVER”. Its time for the CBI to help them find other products and help rescue them.

Folks- this is very good news for us, as we know that the currency auctions will go away as they are run today once the value changes and the dinar is reinstated and traded. There will be no need for the auctions any longer.

Let me ask you this: Then why is the CBI taking such a large effort now to get the dollars out of circulation in Iraq and force the citizens to use dinars?
Can you see they are already beginning to make the transition and are weening the economy off the use of the dollars. So we know the move to end the currency auctions must not be too far in the near future. I like the part when she calls on the banks to “act quickly”. )

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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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