Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."


Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap

Mountain Goat 11/21/18

Post new topic   Reply to topic

Go down

Mountain Goat 11/21/18

Post  Mountain Goatee on Wed Nov 21, 2018 9:39 am

November 21, 2018 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

Everyone should be VERY, VERY excited with the news I have to bring you today. The CBI has finally spoken to us and started the re-education campaign. I have a saying “the campaign is followed by the champaign” lol..lol..lol.. 

This recent re-education is telling the citizens how the redenomination of the dinar will work. These articles today are not the end and there is more to come.

Does this education sound familiar? It should as it is just like what they did in 2012? In fact, I am comparing the articles from back then and they are almost identical. So go figure.

Or does it have the same sound as in late 2015?

Oh – if you recall the CBI came out with almost the exact same articles and at the exact some timeframe prior to their proposed actions. In both past instances it was early to mid November for an EARLY new year reinstatement.

We can only pray now that they do more forward all the way this time and do not postpone it again.

I told you so - Like I keep saying you don’t need some secret sources or some bank screens to tell you what the CBI is doing. All you have to do is be patient and wait. Wait for the CBI to take action and stop all this nonsense and hype of the every day / any day crap. All this crap intel is not going to make the RV come any sooner.

I want everyone to remember this is not a “lop” and here is why:

Iraqi Redenomination VS Lop

(these are all FACTUAL evidence the CBI itself has told us many times. So this is not my opinion but FACTS)

____________________________

Do the older notes remain legal tender?

Iraqi redenomination process: the older 3 zero notes will remain legal tender and “coincide” with the smaller category notes and remain in circulation for up to 10 years.

Lop: In a lop the old notes are NO longer legal tender and are taken out of circulation and are not maintained by the Central Bank. Essentially they become worthless.

____________________________

What happens to the older notes being transitioned out?

Iraqi redenomination process: The banks will use the older 3 zero notes for “inter-banking” transactions afterwards with trading partners in high value transactions. So, these notes remain legal tender for many years to come both inside and outside Iraq.

Lop: In a lop the currency is no longer legal tender and can not be used by anyone. The banks will no longer accept the currency as legal tender.

____________________________

Does the currency lose value?

Iraqi redenomination process: The older currency retains the same value as the redenominated newer notes. No value is lost. For instance, a 25,000 older dinar note is worth $25 and after redenomination a 25 dinar note is worth $25. We just drop the three zeros. There is no buy-out offered as they remain in circulation too along with the newer smaller category notes, only not widely used or encouraged or even any longer issued or maintained by the CBI. Any increase in value comes later when it is reinstated on the open trading platforms and the investors drive up the rate. Or in the exception with the Iraqi dinar, the reinstatement may come out with a very high rate since the value is already realized many times over. Then the market will drive it yet even higher. Get it? This is key to understanding what is about to take place in Iraq.

Lop: In a lop the central bank almost always issues a recall of the older hyper-inflated notes and offers a small buy out rate. For instance, in Zimbabwe the finance ministry in 2016 offered 25 cents for each 100 trillion ZIM notes. These notes are now no longer legal tender and only collector items.

____________________________

Why do they do it?

Iraqi redenomination process: Is done to restructure the currency for a matter of convenience and to facilitate the circulation of the currency for the banks and citizens using them. The CBI has told us many times this is the reason. The older notes usually remained the same categories over the life of the older notes since the older dinar notes did not experience any massive hyper-inflation and the Central Bank was able to maintain a balance of 2% from market rate.

Lop: A lop is performed because of severe hyper-inflation and the currency is almost worthless at that point since the categories (face values printed on the notes) are so extra-ordinary high they become pointless in everyday use.

____________________________

What reforms must proceed the process?

Iraqi redenomination process: Is usually followed with a massive revaluation of the currency. This is when we go to the bank. Within Iraq the diligence has been performed to put in place the needed banking reforms first (and other reforms laws such as anti-money laundering and anti-counterfeiting measures).

Lop: A lop is usually followed also with a massive revaluation as the currency is re-issued in smaller denominations. This is like re-start of the economy. However, in many countries this process does not work well since they have NOT put in place other banking reforms first and so the economy fails once again. So like it the case of Zimbabwe, it did not succeed and so they are struggling and may return to a hyper-inflations situation once again if the proper reforms are not put in place with a central governance of the financial sector.

____________________________

So I hope this helps everyone understand that your investment in the Iraqi dinar is very solid. I can not go into any more detail as to why this redenomination of the Iraqi dinar is unique and will not be a lop. It is up to each of you to read and understand what I have written. If you still chose not to accept it and continue on you thinking of a lop, than that is your OPINION as it is not FACTUAL.

More news….

JUST IN NOV 21TH,

So I remember earlier in 2018, the CBI dropped the program rate from 1187 to 1200 IQD/USD and we all thought our dinar world was going to fall part. Remember? They did this to stay within compliance to the 2% requirement under Article 8.

Now is November, months later and we see the IQD/USD Forex “Projection Charts “ with a rate of 1157.5. This is the highest IQD forex rate of 2018 up from 1200.

In today’s news we learn that “NAS” news channel in Iraq reports an increase of 9% from 1157.5 changed to 1053.3 IQD/USD.

So what is happening in these swings in the program rate and what do they mean to us?

Remember that this does NOT mean the IQD is yet trading of FOREX. The exchange on the charts only gives a rate based on the current program rate and projection charts from the CBI. But it is still all good news. This is even much. much better than the 1166 rate that Dr. Shabibi was able to maintain steady for 2 years prior to getting approval from all entities to reinstate the currency in 2013. Remember?

So now we have rumors coming from Iraq of the dinar rate operating at 120 IQD/USD. Wow! Really? This is amazing but before we go off half cocked and get too excited let’s look at what is really happening.

I don’t want to down play this since this is amazingly good for us as investors in the dinar. But this is nothing more than the initial shock from the lack of dollars coming out of the currency auctions. We know that when for any reason something effects the sale of dollars in these auctions it drives up the rate for the dinar since the dinar then is used more and thus a higher demand for it. Simple supply and demand ration. Right?

But this higher rate of 120 dinars to the USD is the “market” rate. And so what will the CBI do next. They must maintain the 2% spread between market rate and the program rate. Will they adjust the program rate? This is the rate we really want to see change since the market rate could have massive temporary swings in relation to short-term swings in the currency auctions. So we wait and watch what the CBI does next before we get too excited.

More news….




(Baghdad today),

The Governor of the Central Bank, Ali Al-Alaq, arrived Wednesday (November 21, 2018) in the Chamber of Deputies for the purpose of hosting him. Alaq was there for the purpose of questioning on the subject of the signing of the currency and paper, and the damage of 7 billion dinars.

(Mnt Goat – So I want everyone to understand now just how foolish all this nonsense was about firing Alaq and replacing him. Many of you still have to THINK about what is really going on and use your common sense in these matters before you go off half cocked and complain.)

More news….

U.S. PRESIDENT'S ADVISOR EXPOSES NOURI AL-MALIKI AND ACCUSES HIM OF NOURI AL-MALIKI RESPONSIBLE FOR THE DESTRUCTION OF IRAQ

A book issued by Ben Rhodes, former US President Barack Obama's national security advisor, revealed secrets related to ISIS's terrorist formation, Nouri al-Maliki's relationship with Iran and its customers.

The book, titled "The World as it is," stated that "Nouri al-Maliki" was the one who gave the order to open the prisons so that al-Qaeda operatives could escape, who were entrusted with the task of establishing the "terrorist ISIS", and ordered the army to withdraw from Mosul deliberately and leave military materiel, which exceeds 20 Billion dollars.

The book adds that al-Maliki deliberately kept up to $600 million in large sums of money at the central bank branch in Mosul, thus contributing to the introduction of 600 elements of the organization to Mosul in 2014, and providing them with the necessary funds and materiel to start the organization series, and things move according to what he desires Cam Tehran "according to Rhodes."

Rhodes asserts that Obama was aware that Iran was the one to move ISIS and was turning a blind eye, because he wanted to conclude his reign with an agreement that would prevent Iran from acquiring a nuclear weapon, and for that purpose he was willing to pay any price

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

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

CURRENCY STRUCTURE: CENTRAL BANK PREPARES TO DELETE 3 ZEROS OF IRAQI CURRENCY

London - Word: The Central Bank of Iraq details the project, "structuring the currency," which aims to delete 3 zeros, to facilitate the circulation of currency.

The Director General of release safes Abdul Karim Hassan in remarks followed the word news website that " the restructuring of the currency project when he put the first time encountered many objections Vtogel to be raised again in 2014 and begin to apply it, but the emergence Daesh was a new reason to postpone it ."

Hassan explained that "the draft currency structure aims to delete three zeros to turn the category of a thousand dinars to one dinar, while replacing the thousand dinars in the place of one million dinars."

He pointed out that "the project allows the printing of new categories of dinar and half dinars down to deal with the bank."

He stressed that "the idea is integrated and there is a comprehensive study and the project does not need to apply," stressing that "this project must be implemented despite the obstacles that led to the postponement."

He noted that "The project allows the printing of new categories of dinar and half dinar down to the deal with the Fils ".

He stressed that "The idea is integrated and there is a comprehensive study and the project needs only the application ", stressing that "This project must be implemented despite the constraints that led to its postponement."

(Mnt Goat – Okay so here is the beginning of the re-education process I said would begin a months before the reinstatement would happen. Remember the CBI must first wait for the right environment to launch the rest of these lower smaller category notes. Now they are telling us the time is just around the corner. This is exactly what we wanted to hear and needed to hear at this time. So we are moving forward to late 2018 to early 2019 timeframe for a reinstatement. Remember as I said many times we will see a rate change within Iraq as close to 1000 dinars or lower per USD first, then the CBI must launch the smaller notes or the economy will not have any currency they can work with. So now we see the CBI program rate as record lows coming into this week and so we should expect it even much lower and then the launching of first the 25, 50 and 100 dinar notes, as promised would happen at this time. Stay tuned it is all good.)

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

NAS TODAY NEWS:

CENTRAL BANK OF IRAQ- THE VALUE OF THE IRAQI DINAR INCREASED BY 9%

The Central Bank of Iraq announced on Monday the appreciation of the Iraqi dinar against foreign currencies and the stability of the exchange rate of the local currency against the dollar.

"The market, for the first time since 2004, is witnessing stability in the exchange rate of the Iraqi dinar against the dollar, due to the success of fiscal policy," said Mahmoud Dagher, director of financial operations and external debt, in an exclusive interview with NAS today (November 20, 2018).

The Central Bank of 2017 and 2018, where the market gap between the official exchange rate and other exchange rates, which were up by 8%

Dagher pointed out that the importance of the stability of the dollar exchange rate in a country like Iraq affects the purchasing power factor, noting that "while the currencies of neighboring countries have collapsed, the Iraqi currency has increased by 9% compared to previous years, Income of the Iraqi individual. "

"The main problem is how we can stimulate the two main sectors, agriculture and industry, which monetary policy can not achieve without coordination with fiscal policy," Dagher said.

Dagher spoke about the protection that the state must provide for Iraqi industry and agriculture and the border control with neighboring countries. He said that industrial loans face a problem that requires border control to protect loans and industrial projects because the imported goods compete with the local product and this is not because of the best quality, but the use of neighboring countries, floating cash at a time when Iraq uses the fixed exchange rate of the dollar, WHICH MAKES THE IMPORTED PRODUCT LOW PRICE FOR NATIONAL PRODUCTS.

(Mnt Goat – So for Iraq to compete with foreign products it must float the value of the dinar. This article demonstrates why. We know that they will NOT float the program rate as it is fixed and pegged to the US dollar. So something has to change and change VERY soon since Iraq just announced it is going to trade with Iran using solely dinars. Iran of course does not want dinars, as they feel they are not liquid enough and do not have the global purchasing power. )

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

IRAN: WE HAVE 8 OUTLETS WITH KURDISTAN AND TRADE WITH IRAQ WILL BE IN THE NATIONAL CURRENCY

The Economic affairs advisor to the President of the Republic of Iran, Hassan Danaei, said Tuesday that his country has eight international border crossings with the Kurdistan region, calling on Iraq to have trade and commerce between the two countries in the national currency instead of the US dollar.

"The economic relations between Iran and Iraq, especially with the Kurdistan region, will not be affected by the sanctions imposed by the United States of America," he said at a press conference held today in Sulaimaniyah after a meeting with the region's union of importers and exporters. Trade at border crossings between Iran and Iraq in national currency ".

Iran has eight border crossings with the Kurdistan region, he said, adding that the territory continues to deal with Iran's economic activity with these outlets, noting that Iran attaches importance to the Iraqi market, and despite the pressure exerted on Iraq but continues to trade with Iran.

On financial problems between Iraqi and Iranian merchants over the decline in prices and currency teams, he said that the relations of Iranian and Iraqi merchants are historic and they can solve their problems themselves in terms of trade and currency teams.

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

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




IRAQI DINAR MAY REPLACE US DOLLAR IN IRAN-IRAQ TRADE

Iranian ambassador to Baghdad said Iran and Iraq ARE WEIGHING PLANS TO ELIMINATE US DOLLAR IN TRADE TRANSACTIONS and also lift visa requirements for citizens of the two countries.

Speaking at a TV program on Saturday night, Iraj Masjedi said Tehran and Baghdad are considering PLANS TO USE IRAQI DINAR FOR TRADE TRANSACTIONS OR DEVELOP BARTER TRADE CONSIDERING THE BANKING PROBLEMS CAUSED BY THE US SANCTIONS ON IRAN.

He also voiced Iran’s willingness to remove visa restrictions for travels between the two countries, saying the idea of lifting visa requirements for merchants and business people was discussed during Iraqi President Barham Salih’s Saturday visit to Tehran.

Masjedi highlighted the ample opportunities available for the Iranian business sector available in the Iraqi market, saying the Baghdad government welcomes foreign investments. “The government of Iraq is seeking foreign investment in the economic field, and has now offered 1,200 projects worth $100 billion,” the ambassador added.

He assured Iranian investors of improving security in Iraq, saying the security conditions in the Arab country’s inland and border regions have been getting better since the defeat of the Daesh (ISIL) terrorist group.

The Iraqi president visited Tehran on Saturday with a ranking delegation for a series of political and economic talks.

After high-profile talks between the Iranian and Iraqi delegations, Iranian President Hassan Rouhani said the TWO NEIGHBORS CAN INCREASE THEIR ANNUAL TRADE FROM THE CURRENT $12 BILLION TO $20 BILLION.

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

GE SEEKS POWER SALES IN IRAQ, BUT REPORT SPOTLIGHTS CORRUPTION CONCERNS

(Mnt Goat- we know that GE (US firm) was chosen over Seimans (German firm) to build and operate the electric turbines to get Iraq energy independent off Iran’s energy. We GE is not going through some hard times and the stock value has dropped in recent times. So here we go again …more corruption.)

Study prepared for the company illustrates its dilemma as it tries to work in a nation with both a demand for turbines and pervasive bribery

By Ted Mann

Nov. 18, 2018 10:00 a.m. ET

General Electric Co. learned from a consultant’s report this past summer of corruption allegations against key business partners in Iraq, where the company is trying to shore up its position in one of the most important foreign markets for its struggling power business.

The industrial giant said it has a robust compliance operation and doesn’t believe it has violated any federal laws, including ones covering foreign corruption. However, that confidential report, parts of which were reviewed by The Wall Street Journal, underscores the dilemma GE faces as it chases new business in one of the few places with demand for its multimillion-dollar heavy duty gas turbines.

The study, prepared for GE by corporate intelligence firm Hakluyt & Co., paints a portrait of widespread corruption and bribery in the Iraqi power sector, accusing high-ranking officials in the Ministry of Electricity, from which GE is currently vying with Siemens AG for $15 billion in new power contracts. Siemens declined to comment.

The Hakluyt report, based on interviews with business people and political officials working in the power sector, provides a broad overview of the corruption concerns in the industry and advises GE to distance itself from at least one of its contractors. Hakluyt’s staff includes former British MI-6 officers and strategic consultants from the business world.

One Iraqi government official is quoted in the report estimating that “not one single contract” in a recent wave of power agreements “has been done without some kind of deal benefiting one of the religious and political parties.”

The report, prepared for GE this spring, follows a previously unreported Justice Department inquiry into corruption allegations against GE employees in Iraq in April. That inquiry was triggered by a whistleblower complaint alleging employees of GE Power, the conglomerate’s power unit, in the country were involved in corruption, according to people familiar with the complaint.

GE said it investigated the whistleblower accusation and found it to be without merit. The company learned of the whistleblower when U.S. agencies, including the departments of State and Commerce, withdrew their commercial support for the company’s efforts in Iraq over the accusation. The embassy resumed its support for GE after the company agreed to investigate the allegation, the people familiar with the complaint said.

The status of the Justice Department’s inquiry into the whistleblower’s claims couldn’t be determined. The Justice Department declined to comment.

However, the corruption concerns are an unwelcome headwind for GE’s power business, its oldest and largest industrial unit, whose revenues and operating profit have plummeted over the past year, dragging GE’s share price to historic lows. Management has said reversing the decline of the power business will take years. In the quarter ended Sept. 30, the power business recorded a $631 million loss, and took a $22 billion goodwill charge, writing down virtually all of the goodwill in the business.

Ties to bribery and corruption in foreign markets, even among third-party partners, could mean the possibility of violations of the Foreign Corrupt Practices Act among other laws—and millions of dollars in fines.

The industrial giant has “robust processes for all kinds of ethics and compliance issues,” a spokeswoman said. “We believe that based on our review, the company hasn’t committed any FCPA violations or violated any other laws.”

GE shares closed down 1.9% on Friday to close at $8.02, a roughly 45% fall over the past six months.

The Hakluyt report warned about corruption allegations against construction magnate Ali Shamara, a central figure in the Iraqi power sector, with whom the company has worked on multiple projects since 2004, including a massive 2008 deal in which GE sold 56 9E turbines to the Iraqi Ministry of Electricity. Mr. Shamara’s firm was contracted to install some of the units.

“Ali Shamara earned his fortune largely through his relationship with former Prime Minister Nouri al-Maliki,” Hakluyt said in its report. “This presents what is acknowledged by these contacts as a real dilemma: currently, any firm that completely avoids Ali Shamara will struggle to win major contracts from the (Ministry of Electricity), yet any firm that partners with him runs—at the very least—serious reputational risks.”

And yet, the report concedes that to win business in a market like Iraq, the company may have to do business with figures like Mr. Shamara.

Mr. Shamara’s company “remains essential” to operating in the Iraqi power sector, the document said.

Mr. Shamara, in an interview, staunchly denied allegations of corruption on the part of himself and his firm, International Free Company, which is currently wrapping up its postconstruction work with GE on the rebuilding of a power plant called Baghdad South. He said he expected to continue to play a major role in Iraqi power projects, and hoped to work with GE in the future.

“We had no corruption with GE,” Mr. Shamara said. “Zero.”

GE said that its customer vetting process didn’t raise any red flags about corruption in its past dealings with Mr. Shamara. The company also said it doesn’t have any future projects scheduled with Mr. Shamara’s companies or any plans to bid on future work with his companies.

GE said its operations ensure its employees and business partners operate within the bounds of the law.

However, one question debated within GE Power, according to people familiar with the matter, is why its dealings with Mr. Shamara had never raised concern. The company declined to comment on the reported debate.

The company said it hired Hakluyt this spring to review its local network of contractors who install turbines and build out power plants as part of a broader internal review of its power business in the country. GE added it doesn’t necessarily agree with the findings of consultants like Hakluyt, but the company views their findings as “important input in our investigative process,” a spokeswoman said.

The Hakluyt report quotes businessmen accusing officials in the Ministry of Electricity, including Deputy Minister Abdul Hamza Hadi Aboud, of demanding bribes before allowing power plant construction projects to go forward. Neither Mr. Aboud nor the Ministry of Electricity responded to requests for comment.

Hakluyt also warned about a Turkish contracting firm with which GE has business in Iraq. Several senior Iraqi and Turkish politicians have said they believe it might be a front for the business interests of a senior official in Ankara, though Hakluyt couldn't independently confirm the politicians’ statements, the report states.

“You are probably on safer ground with your Turkish partner,” the report said, adding, “You will also want to be realistic about the fact that any firms working in Iraq—even Turkish ones—are required to work through Iraqi partners.” The Turkish company and the Turkish embassy didn’t respond to requests for comment.

The findings have caused concern at the highest levels of GE, and have been included in briefings for Chief Executive Larry Culp, according to people familiar with the matter.

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

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
avatar
Mountain Goatee
VIP Member
VIP Member

Posts : 520
Join date : 2016-01-12

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You can reply to topics in this forum