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 Mnt Goat News Bleat 8/15/18

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RamblerNash
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PostSubject: Mnt Goat News Bleat 8/15/18   Thu Aug 16, 2018 12:16 am

Hi Everyone,

I bring you much news today.

As the breaking news evolves, we will see more and more emphasis on the Iraq / Iran relationship and the impacts of the sanctions. I am telling everyone right now (so I can tell you later “I told you so”) that unless the CBI moves ahead on the reinstatement of the dinar quickly, once the govt is formed, we will be in a situation that the November Iranian sanctions will delay the CBI once again possibility until 2019.

More news….

UPDATE ON THE ONGOING ELECTION SAGA

The article below is really all the most recent news on this topic. We are now just waiting for Iraq to make take the next step in the formation of the govt.

We know the judicial did already ratify part of the election results and so this is completed but not entirely.

Watan News –The Independent Electoral Commission of Iraq announced that Tuesday is the last date for political parties to submit their appeals on the results of counting and manual counting of the parliamentary elections.

All political parties in Iraq have not yet been able to sign any formal memorandum among" them on the establishment of a single coalition, representing the mass bloc, which is preparing to form a government, because it is still waiting to ratify the results of the elections.

The newspaper said that the Iraqi judiciary is expected to ratify after the Eid al-Adha holiday in Iraq (at the end of this month of Aug) on the results of the official elections to be called to hold the first session of the parliament within 15 days, in the absence of new appeals in the election results. This will contribute to delay ratification of the judiciary.

The possibility of holding the first session of the parliament in next October next is still strongly" available, but there is a period of one month after the first session of the formation of the government to keep the parliament session open so as not to be a violation of the law, in " terms of constitutional terms to form the government since the first parliamentary session.

Just in late Tuesday,,,,

{Euphrates News} that "the total number of appeals for the three days amounted to 240 appeals only and was prepared answer and will be sent Wednesday to the judicial electoral body.”

The Board of Commissioners has closed the receipt of appeals and complaints concerning the elections by the end of the official working day of the Tuesday.

We know that the Sadr Movement is still very strong and still very much in full control. Sadr along with Abadi has managed to form a huge alliance that is all inclusive of all the secs (Sunnis, Kurds, Shiites).

We know that the only real technocratic politician as a viable candidate is Abadi and he will most likely get a second term as prime minister. But the circus is not over until the fat lady sings….lol…lol…

Shafaq News / Sources in the Sadrist movement on Monday that THE COMING DAYS will witness the official announcement of the formation of the largest bloc within the parliament, and then the formation of the next federal government.

The newspaper "Okaz" Saudi Arabia, issued on Monday, the sources said, saying that "Abadi and Sadr laid the broad outlines of the alliance, according to conditions that was the Sadrists announced to join him.

Baghdad / Al-Ghad Press:
A spokesman for the current wisdom, Nofal Abu Raghef, on Monday, the process of counting and sorting the hand wasted time, calling to be realistic in shaping the next scene.

Abu Raghef said in a statement to "Al-Ghad Press" that "the process of counting and sorting by hand did not change the results of the Commission declared," indicating that the time has been wasted and remained the same results. "

He called for "taking into account the time, and dealing with realism in shaping the next scene." (in other words don’t waste time in the future and make the same mistakes).

The judiciary of the elections in the Federal Court of Cassation confirmed on Monday that Tuesday, 14/8/2018 is the last day to receive appeals regarding the results of counting and manual sorting.

More news….

Prime Minister Haidar al-Abadi canceled a visit to Iran on Wednesday because Tehran did not welcome the visit after Iraq's compliance with US sanctions.

As you may already know that on Tuesday, August 7, 2018, Prime Minister Haidar al-Abadi stressed Iraq's lack of sympathy for US sanctions against Iran, but his government is obliged to abide by those sanctions to protect the interests of the Iraqi people.

More news….

Kaperoni says “that Iraq would be just fine if they were in Article VIII with an 1190 valued currency. Yes, we all know it deserves to be higher…many experts believe it is extremely undervalued. But that is what floating a currency is all about allowing market forces to dictate a country’s exchange rate. So we will all find out if the Balassa Samuelson effect is in play and large amounts of capital come into Iraq to rebuild and investors around the world believe that the currency is undervalued”.

So again these statements by Kap are missing the intent of the IMF and what the CBI wants. The IMF does not want to put the Dinar out on a float at 1190 or any other program rate. Why?

I can give you a long list of reasons why it might not be a very good idea at this point in time to have a rate of 1190 on FOREX or any of the other global exchanges. So I will not bore you with all these details again since I have gone over this many time already. However, there is one FACT that Kap totally misses and that is the plan to move the dinar off the de facto peg with the US dollar to a new SDR peg with 5 other currencies from the developed countries. This is the key with this new peg in that they plan to set a new rate according to the new peg. Get it? This NEW PEG is what will get us the new rate we are looking for. I hope Kap reads this newsletter today.

I want to bring it to everyone’s attention too that normally, in past experiences, that when the IMF has done this repegging, they normally come out at about $1 USD equivalent. Then they float it and let the market drive it further. It does not normally take long to adjust and settle to the true value. The Balassa Samuelson effect is still in play and large amounts of capital can come into Iraq to rebuild just starting at 1:1 and not 1190:1.

So Kap is half right. I do respect his opinion and some of his research but he is missing a very important part where if you didn’t happen to read that series of articles in the past you would have missed it all. I guess he just missed it and the plan of the IMF for the dinar. So I am not guessing nor trying to spread more rumors. I am telling everyone the FACTS.

More news….

Economy News Baghdad:
The Central Bank of Iraq denied on Monday the existence of dollar dealings with Iran .

"We have not had dollar dealings with Iran since the time of Obama, " said Mohammed Dagher, director general of the Department of Financial Operations and Public Debt Management, in an interview with the Iraqi News Agency .

"Dagher said that" double bidding is a natural procedure taken by the Central Bank, in case of failure, to maintain the stability of the exchange rate.

More news….

The Iraqi dinar is NOT yet international!

In the foreign exchange market and international finance, a world currency, supranational currency, or global currency refers to a currency that is transacted internationally, with no set borders. This has not yet happened in Iraq.

What is the overwhelming evidence:

1.The CBI is still conducting “currency auctions” and forcing the merchants to use the US Dollar and not the Dinar for payments of foreign trade.

2.The Iraqi dinar is NOT yet listed on the global foreign exchanges and thus not tradable.

3.The Iraqi dinar is NOT yet freely accepted and does not have any strong “speculative” value in which to entice investors to invest in it.

4.Yes, the banks are now selling and buying the Iraq dinar once again. Why won’t they. The spreads are huge and there is a ton of money to be made on it, even at a 1190 rate. But don’t get confused as too what they are doing. They are merely acting as “currency brokers” much like the internet sales only they are in a bank and have a more reputable name backing them. They still use the CBI rates and do not reference FOREX rates. They are now just coming back online since they were asked to stop selling dinar during the Iraqi war with ISIS in 2014-2017.

5. You can’t say the Iraqi dinar is once again on FOREX just because there are some graphs charting the value over the last couple years. Yes, this may be good news and may be prepping the investors for the future when it does come back to trading status. But the reality is that today it is NOT being trading and graphs on FOREX does not make it international. Try to trade the Iraqi dinar on FOREX and get back to me on what you find out if you don’t believe me….lol…lol…lol… I already know what you will find. Yes, I am being as much sarcastic and you are an idiot…

So I don’t care much for what idiot guru who tries to convince you otherwise. He/she does not know that the hell they are talking about. There must be a gauge of measurement at which time you can honestly say the dinar is “international” and these standards have NOT yet all been met. Get it? Sorry Mr. Guru you are wrong again.

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

ABADI’S COALITION CLAIMS DEAL TO FORM NEW IRAQI GOVERNMENT

ERBIL (Kurdistan 24) – Iraqi Prime Minister Haider al-Abadi’s political alliance announced on Friday that it had reached an agreement with other major parties to form the next government.

According to a statement released by Khaled al-Obeidi, chief negotiator of the Nasr (Victory) Coalition, the deal includes the frontrunner of May’s election, Muqtada al-Sadr’s Sairoon coalition, Ammar al-Hakim’s al-Hikma (Wisdom) party, and Ayad Allawi’s al-Wataniya (National) coalition.
Obeidi said that preliminary talks with al-Hikma and al-Wataniya had “led to positive results and common understandings, preparing the groundwork for a viable government program.”

“We are now in close agreement with Sairoon, al-Hikma, and al-Wataniya, and have also forged understandings with the Kurdistan Democratic Party (KDP),” he added.

On Thursday, Iraq’s electoral commission announced the results of the manual recount of votes as a result of widespread controversy amid charges of fraud in the May 12 national elections. THERE WERE NO SUBSTANTIAL CHANGES IN THE SEAT NUMBERS WON BY MAIN PARLIAMENTARY BLOCS.

According to the final results, Sairoon remains the winner with 54 seats out of total 329, followed by the bloc associated with Shi’a militias, al-Fatih, with 48 seats. Abadi’s coalition came in third with 42 seats.

The newly-seated parliament members are charged with electing a new speaker and two deputies in their first session, to be held within 15 days of the Federal Supreme Court of Iraq’s ratification of final election results. After a new speaker is in place, lawmakers have 30 days to elect, by a two-thirds majority, Iraq’s new president, who is then given 15 days to nominate the prime minister from the largest bloc in parliament.

The prime minister, in turn, will have another 30 days to form his cabinet, with ministers then referred back to parliament for individual approval. If the effort is unsuccessful, the president has yet another 15 days to nominate another prime minister to repeat the process of forming a cabinet.
Over the past month, Iraq has witnessed a wide range of protests across the central and southern provinces with people demanding better public services, higher employment, and reducing massive corruption in state institutions. Protesters have also called for major reform in Iraq’s political process.

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

ECONOMIST: THE CENTRAL BANK PUT SOLUTIONS TO STOP THE RISE IN THE DOLLAR EXCHANGE RATE

Economist Bassem Jameel Antoine said on Sunday that the central bank has put in place solutions to stop the rise in the dollar exchange rate, pointing out that the CENTRAL BANK HAS STOPPED REMITTANCES WITH IRAN.

Antoine said in a press statement that “the dollar exchange rate in Iraqi markets has seen a recent rise, because some dollar is delivered to Iran in cash across the border between the two countries, especially after the suspension of remittances between the two countries.”

“The central bank has announced its commitment to the terms of the International Monetary Fund, to stop the remittances between Iraq and Iran, which will lead the private sector to buy the dollar in larger quantities than the former market, for trade exchange between the two countries.”

He explained that “the large demand on the dollar, will make the price rises from the former, which drives the central bank to pump large amounts of the dollar in order to reduce the exchange rate, taking advantage of the large abundance of the dollar in the country,” asserting that “Iraq has about $ 12 billion dollars From Iran, but was affected by the US sanctions imposed on Tehran. ”

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

PRIME MINISTER HAIDER AL-ABADI SAID ON MONDAY THAT HE IS PREPARED TO "SACRIFICE HIS LIFE AND POSITION" TO SERVE THE IRAQI PEOPLE

Baghdad today - Baghdad Prime Minister Haider al-Abadi said on Monday that he is prepared to "sacrifice his life and position" to serve the Iraqi people. Some want to sabotage the relations between Iraq and Iran," Abadi said during a weekly" conference at the government palace in the Green Zone in central Baghdad and commenting on the repercussions of his statement last week on US sanctions against Iran.

This has pushed the other side to harm Iraq," Abadi said, adding that "his government will" "not back down from its position in defending the interests of the Iraqi people Abadi stressed that "his government continues to fight for the benefit of the Iraqi people," "stressing his willingness to sacrifice "his life and all positions to serve the Iraqi people.

Abadi said that "his government has not yet taken any decision to stop trade with Iran," noting that "the decision is now limited to stop dealing with Iran in the currency of the US" dollar.

*************************************************************
President Donald J. Trump Signs S. 2779 into Law
FOREIGN POLICY

On Wednesday, August 8, 2018, the President signed into law:

S. 2779, the “Zimbabwe Democracy and Economic Recovery Amendment Act of 2018,” which amends the Zimbabwe Democracy and Economic Recovery Act of 2001.
April 17, 2018 Zimbabwe in tight timeline to repay arrears, seek more funding

Zimbabwe stuck on Monday to its plan to clear its debt arrears by September with the aim to tap international capital markets by the end of the year, though that timeline would be “very fast-tracked.” Zimbabwean officials met with investors in New York in search for cash that would clear about $1.8 billion in arrears with the World Bank and the African Development Bank. Repayment would unlock more cash from the ADB and is necessary to tap other sources of development financing.

“We need to clear the ADB and World Bank before we’re able to go into a program with the IMF,” said John Mangudya, governor of the Reserve Bank of Zimbabwe, at a press event following the investors’ meeting. “What we need is a bridge financing from the likes of these investors,” he said. In 2016, Zimbabwe paid off 15 years’ worth of arrears to the International Monetary Fund. The timeline for the arrears payment and the added funding “is possible, but it would be very fast-tracked,” said Dean Tyler, head of fixed income at Exotix Capital, which hosted the meeting.

Some 40 to 50 international investors, institutions and hedge funds among them, attended the meeting, according to Tyler, and it follows a similar meeting in London last month. The pitch to investors comes shortly after Robert Mugabe, Zimbabwe’s president for nearly 30 years, was forced to resign following a de facto army coup last November.

Zimbabwe became a pariah in the West after Mugabe’s government was accused of rigging votes and abusing human rights, and over the years it has turned to China for investment to help an economy desperate for new infrastructure.

(Mnt Goat – I can assure you I read this entire new law and it does not say one word about any deal the US has with Zimbabwe in cashing in the old expired currency. In fact why the hell would they do and give the USA billions when Zimbabwe owes the US billions in past over due debt? Really! Who the hell does this make sense to? Oh – but these idiot gurus will continue pumping the ZIM and even now use this article as proof they are right. Really? Did they even read it? Did you read it? All nothing but a bunch of total idiotic nonsense. Please, please, please if you own this defunct currency get on eBay or Amazon and dump it quick. It is going to drop to absolutely nothing once all the hype is over and the word gets out in fact the banks are not exchanging this worthless paper.)

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

ZIM FINANCE MINISTER SAYS 'BOND NOTES AREN'T GOING ANYWHERE'

(Mnt Goat – so here it is in black & white just like I have been trying to tell everyone. The older ZIM notes are not going anywhere. It is a scam. Is Zimbabwe a bunch of liars too?)

2018-01-21
Harare – Zimbabwe's
finance minister Patrick Chinamasa has reportedly denied reports that the country's surrogate currency - the bond Notes - would be phased out soon.

(Mnt Goat – these new notes of 2016, the lower categories are considered the “bond” notes, not the expired, hyperinflation notes example 1 trillion notes you hold. Get it now? This is what he is talking about. Get it now. How times must I reinerate myself on this issue. This “redemption” and/or exchange of these older notes is NOT going to happen. This is all nothing but total bullshit about the older ZIM notes. YOU ARE BEING SCAMMED!)

The state-owned Herald newspaper quoted Chinamasa as saying that the controversial bond notes were not going anywhere until the southern African country had its own currency.

The minister said that there were macroeconomic fundamentals that the treasury was working on before the surrogate currency could be discontinued. (Mnt Goat he is talked about the new category notes of 2016).

"We need to address the budget deficit, we need to address the issues of exports and we need to build foreign currency reserves of at least three months, at the moment we are at 0.7 months. This is why we are coming up with all these proposal or incentives to incentivize production so I just want to plead with you, please let’s look at the positive side, let’s not dwell on the negative, let’s not be driven by falsehoods that are peddled through social media. You are intelligent enough to distinguish between an obvious falsehood and that which may have credibility," Chinamasa was quoted as saying.

The southern African country adopted the use of multiple currencies IN 2009 AFTER ITS CURRENCY HAD BEEN RENDERED WORTHLESS BY HYPERINFLATION.

(Mnt Goat – these are the 2008 and 2009 notes you hold and they are telling us once again they are worthless. Why do you think this is the fifth article that has told us this? It is because they are hearing foolish investors like you are buying up this old junk and thinking they are going to get rich off it.. lol ..lol lol … )

The US dollar had been the main transacting currency but it has been in short supply since 2015 due to low exports and externalization.

This led to the introduction of a surrogate currency in November 2016 to ease chronic shortages of US dollars, and to encourage exporters who earn the country foreign currency.

(Mnt Goat – so the rate on the bank screens is for this “surrogate currency” introduced in 2016. They just told us this in the article. What the hell more do you want to do to debunk all these lies about the ZIM notes as being “bonds” or redeemable currency? It is all nonsense..get it now? I swear many of you listen to all these guru idiots and then go off half-cocked like toothless crack addicts, then don’t like it when I call you that name. If the shoe fits wear it! Especially the TNT gang of idiots.)

*************************************************************
QASSEM SOLEIMANI, WAS LEADING A COSTLY AND EXTENSIVE CAMPAIGN OF MALICIOUS ACTIVITIES IN THE REGION

The United States is closely following the hostile practices of the Iranian Government and its ongoing activity in support of terrorism in the Arab region, particularly the activities of the Quds Force of the Iranian Revolutionary Guards, which is the most important factor of instability in the Middle East.

The head of the US Central Command, General Joseph Fotel, said the commander of the Quds Force of the Iranian Revolutionary Guard, Qassem Soleimani, was leading a costly and extensive campaign of malicious activities in the region, including Syria, Iraq, Lebanon, Bahrain and Yemen.

"THESE DESTABILIZING ACTIVITIES THREATEN REGIONAL SECURITY AND STABILITY AND ARE NOT IN THE INTERESTS OF THE IRANIAN PEOPLE," he said.

On the latest threats launched by Iran and hinting at the closure of the Strait of Hormuz, the commander of the Central Command, the readiness of the US military to maintain freedom of navigation in the strait, which - according to the Department of Energy - "the most important point of transit of oil in the world," and passes through about 20% of the world's oil trade.

(Mnt Goat – and so it begins……much more to come as sanctions kick in to high gear in November. Again I am telling everyone if the RV does not happen by this timing in November we may as well put the dinar in a shoe box on the shelf and relax. We will be waiting into 2019 sometime.

I am not going to be overly optimistic just to make you happy and excited for nothing. I am only going to give you the FACTS and how I see this developing based on these FACTS presented to me. Sorry if you don’t like it.)

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

15/8/2018 12:00 am
The Iraqi political front is open to multiple possibilities, and it is difficult to control its rhythm and deal with its expected problems, especially at the level of keeping a safe track for the democratic political process, or at the level of protecting the national society from conflicts and conflicts with internal, regional and international extensions. .

The pragmatism of Iraqi foreign policy is the first step in producing more provocative political, security and economic data, and more likely to frame this policy and its directions, especially after the announcement by US President Donald Trump. THE IMPOSITION OF SEVERE ECONOMIC SANCTIONS ON IRAN, AND THE EFFECTS OF POLITICAL AND ECONOMIC REPERCUSSIONS ON IRAQ, AND THE ABUSE OF POLITICAL FORCES WITH THEM, AS WELL AS REFLECT ON THE MAP OF THE ALLIANCES OF THE NEXT PARLIAMENTARY.

(Mnt Goat – it can’t get any clearer that these new sanctions are going to stall the reinstatement once again. Yes, there is always something. Just hang in. We know that Iraq MUST reinstate their currency and they rate will FLOAT)

Preserving the sovereign right of the Iraqi state is legitimate, and the position should be a comprehensive option, which means framing foreign policy according to the internal policy, and dealing with its sensitivity with a kind of responsibility, professionalism and objectivity, especially that the Iraqi state is of a parliamentary nature, International politics requires internal support, and a consensus that distinguishes political options from fragmentation, intersections, and within objective contexts that stem from the preservation of Iraq's unity and sovereignty, a methodology based on taking into account its interests, and non-intervention in the private affairs of other countries, regionally and internationally.

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

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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