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Mountain Goat 12/21/18

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Mountain Goat 12/21/18

Post by Mountain Goatee on Fri Dec 21, 2018 3:57 pm

December 21, 2018 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

WOW! It is that time of the year again. I want to personally wish everyone a VERY Merry and Holy Christmas season. Remember there are 12 days to Christmas and it does not end or begin with gift giving. The greatest gift of all is the gift we received from Jesus when he was born into this world to give us life after death. The second greatest gift is the gift of intelligence and the ability to discern, judge and then chose. Are we making the right choices?

More news….

UPDATE ON THE ONGOING ELECTION SAGA

Looks like nothing happened in Thursday’s parliament session for voting on the remaining 5 ministers. The other 3 ministers, voted on earlier in the week, were sworn in on Wednesday.

Information / Special

The alliance confirmed the opening, on Thursday, an agreement with the reform on the replacement of the candidates of the remaining five ministries.

“The Alliance of Construction has reached understandings with the Alliance of Reform on the remaining five ministries,” MP Abdul Amir Najem told Al-Maaloumah. He added that “the talks yesterday, reached a final agreement to replace the candidates of the remaining five ministries, including the interior and defense.”

Najm said that “has not been agreed on alternative names so far,” noting that “the next hours will be resolved the names of candidates and replace them with Saturday’s session next Dec 22nd .”

Let’s hope this is finally the end to this ongoing saga and the govt and the CBI can get to work.

More news….

SAUDI ARABIA KEEPS THE EXCHANGE RATE PEGGED AT 3.75 RIYALS TO THE DOLLAR

Follow - up - Balances News

Saudi central bank governor said on Wednesday the local currency put the riyal "very reassuring", warning that the bank will not be allowed to speculate in it.

"When we say that it is a red line, we mean that we will not allow anyone to fight it," Governor Ahmad al-Khulaifi told a news conference.

He reiterated that the central bank does not intend to change its exchange rate policy. Saudi Arabia keeps the exchange rate pegged at 3.75 Riyals to the dollar.

See my map of other currency rates adjacent to the country of Iraq in my picture section of todays newsletter.

The question is this - Can Iraq sustain an 8th of a penny per dinar and think that it can easily trade with neighboring countries in an open market? How about incoming investors? How will they get their profits out of Iraq? Will they have to convert their profits in dinars to the US dollars first in the CBI currency auction? Oh – but maybe this is what Washington wants since it will create a demand for US Dollars and help stabilize the rate of the US dollar? Just asking. Could this also be part of the holdup in reinstating the dinar back to international status? Get my point here?

More news….

IRAQ AND IRAN ARE ENGAGED IN NEGOTIATIONS TO SET UP CREDIT ARRANGEMENTS FOR TRADE IN THEIR NATIONAL CURRENCIES

Monday, 17 December 2018

The chairman of Iran-Iraq chamber of commerce has said the central banks of the two countries are engaged in negotiations to set up credit arrangements for trade in their national currencies.

U.S. sanctions on Iran have virtually cut off the country’s banking relations with the rest of the world, especially in U.S. dollars.

Iraq is one of Iran’s major trading partners, but is reluctant to violate the sanctions however, Yahya Ale Es’haq insisted in an interview with Tasnim news agency, “We don’t have a problem in exports to Iraq” and the new banking arrangement “is to facilitate transactions”.

So, if I read this correctly Iraq and Iran are NOT trading and using the Iraqi dinar for payments instead of the US dollar. Previous articles were telling us they only were thinking about it and perhaps they could do it. But it is not yet a done deal and may never be or could until they reinstate the dinar. Get it?

So please all you gurus stop trying to see some fake RV news to us and read the articles instead of going off half cocked and making up stories.

More news….

DURING A MEETING WITH THE IRAQI NEWS AGENCY. TEACHING FROM THE ACCOUNTING DEPARTMENT PROPOSES TO POSTPONE THE DRAFT DELETE ZEROS

Assistant Professor Dr. Safwan Qusay Abdul Halim, said that the current economic situation does not allow the implementation of the project to delete zeros from the currency, attributed to the unstable conditions in the Middle East and the possibility of the existence of illegal local currencies looking for a way to enter the domestic banking system.

Abdul-Halim said in a statement to the Iraqi National News Agency “Nina” The Iraqi Central Bank IS TRYING TO RESTORE CONFIDENCE IN THE IRAQI CURRENCY AND ENTER INTO THE INTERNATIONAL CURRENCY MARKET AND FACILITATE THE TASK OF CALCULATIONS BY DELETING ZEROS, and pointed out that the project can cause confusion in monetary policy and the value of the Iraqi dinar.

Therefore, the PROCEDURE TO DELETE ZEROS IS A CORRECT MEASURE, but the current government to choose the appropriate time to replace the currency and transparent and subject to the highest degree of control was the governor of the Central Bank Ali Alaq announced earlier in a press statement that currencies of small categories may prompt citizens to bid farewell to banks for difficulty to store as the central bank HAS A FUTURE PLAN TO RESTRUCTURE THE IRAQI CURRENCY, INCLUDING THE DELETION OF ZEROS.

(Mnt Goat – Everyone needs to clearly understand this article and what is saying and the significance of it.

First of all it is NOT saying definitely that the project to delete the zeros is being postponed again. Instead this is just an opinion from Assistant Professor Dr. Safwan Qusay Abdul Halim, and NOT the CBI. Will the CBI listen to him? Does the CBI use him as a source for consultation? NO! NO!

Second, Halim would not be saying this if the project to delete the zeros was not already going forward by the CBI;

Third, we don’t know what party affiliation Halim is from. There are many political opponents who simply do not want the CBI to succeed and want to hold back the project to delete the zeros. They want the government to instead have full control over all the funds in the CBI (so of course they can embezzle the $$$). Of course, we know that is exactly the purpose of the Central Bank of Iraq. So we can not trust this source of information anyhow.

Fourth, just as Mnt Goat has been saying all along the Iraqi dinar is NOT yet international. This article confirms and proves it once again. How many confirmations do you need before you stop spreading this rumor? If it was already international, then why in hell would Halim be saying and I quote from the article – “TRYING TO RESTORE CONFIDENCE IN THE IRAQI CURRENCY AND ENTER INTO THE INTERNATIONAL CURRENCY MARKET”.

I rest my case again. If it was already international then why would Halim be telling us the CBI is trying to enter into the international currency market if they were already there? I don’t know you tell me.

All you stupid gurus out there are wrong again, as usual. Please stop all the hype and premature speculation. You are messing with everyone’s minds. STOP all these lies! Especially I am talking about these idiots Bruce from the Big (stupid)Call and fat man TNT Tony. )

More news….

FAKE NEWS on the RATE of the DINAR

So here it is again. Confirmed the rate of the Iraqi dinar is 1196 dinars to the dollar as the official rate in Iraq. So, I don’t know where in hell this guru from TNT is saying 119 dinars to the dollar. Oh – I know. I figured it out as there was a period placed where a decimal should have been placed on one of the sites they go to get the rate. Only they are too stupid to realize it. Go figure these idiots. Did they apologize to you yet for their mistake? No but I want to see how they are going to back out of this one without looking like the fools they are once again…lol..lol..lol…. 

Just in latest rates: BAGHDAD - Foreign currency markets in Baghdad recorded a stable exchange rate on Friday against the Iraqi dinar.

The market price on the Kifah Exchange in Baghdad was 1196 dinars per dollar, or 119 thousand 600 dinars for one hundred dollars, the same price yesterday and the day before and the day before…..

More news….

THE FIRST IRAQI BANK TO RECEIVE AN INTERNATIONALLY RECOGNIZED CREDIT RATING

Baghdad – The credit rating agency Fitch announced on Wednesday that the Iraqi Trade Bank with B-degree with a stable outlook. According to the agency that the classification of the Iraqi Bank for Trade came to the credit rating B – TO BE THE FIRST IRAQI BANK TO OBTAIN A CREDIT RATING OFFICIAL BY A RATING AGENCY OF THE WORLD.

Full article is in articles section below.




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

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

Articles Begin

THE FIRST IRAQI BANK TO RECEIVE AN INTERNATIONALLY RECOGNIZED CREDIT RATING

Baghdad – The credit rating agency Fitch announced on Wednesday that the Iraqi Bank for Trade B-degree with a stable outlook, while the bank stressed that the strength of the balance sheet and the high level of profitability in its work as well as liquidity and diversification strategy behind the classification.

According to the agency that the classification of the Iraqi Bank for Trade came to the credit rating B – TO BE THE FIRST IRAQI BANK TO OBTAIN A CREDIT RATING OFFICIAL BY A RATING AGENCY OF THE WORLD, the main factors that lead to a positive assessment is to improve the prospects for growth and the business environment and security situation, Reduce the budget deficit, thereby reducing the debt ratio of GDP over the medium term.

All of the Bank’s financial and banking operations HAVE BEEN EVALUATED ACCORDING TO INTERNATIONALLY RECOGNIZED FITCH STANDARDS, which represent the Bank’s overall financial health with a focus on financial reporting, portfolio management, profitability and diversification, as well as liquidity, income and other banking factors.

Faisal Al-Hims, Chairman of the Board of Directors of the Iraqi Bank for Trade, said that the risks to the classification are balanced at the present time, pointing to the importance of the ROLE OF SECURITY STABILITY IN THE COUNTRY DURING RECENT TIMES IN IMPROVING INDICATORS OF FOREIGN INVESTMENT AND THE RECOVERY OF THE COMMERCIAL MARKET. He expressed his happiness with the result of the credit rating, describing it as a MAJOR ACHIEVEMENT AS THE FIRST OF ITS KIND FOR THE IRAQI BANKS, and that it is in line with the principles of sovereignty in Iraq.

Commenting on the Fitch Ratings decision, Mr. Faisal Al-Hims said: “The strength of the balance sheet, the high level of profitability in the BTI’s business, coupled with liquidity, diversification strategy in the corporate and retail sectors, confirm the growth and employment opportunities resulting from it. The creditworthiness of the Iraqi economy and the quality of services provided to the Iraqi citizen, as well as our success in providing innovative banking products and services, which demonstrates our relentless efforts in implementing our strategic initiatives. ”

“We have achieved many achievements that have won numerous awards and accolades in recent years, and we continue to relentlessly pursue our vision with greater enthusiasm and determination.”

It is worth noting that the Iraqi Trade Bank has achieved great achievements since its opening in 2003, and continues to play a key role and influence in the development process of Iraq. The success of the Bank’s efforts is directly related to the stability and prosperity of Iraq and will have a long-term positive impact on Iraqi society.

The Iraqi Bank for Trade has a network of banking branches in Iraq which plays a very important role in identifying sources of financing and securing projects. As a leading and trusted institution among international banking institutions, the Bank has opened a representative office in the UAE in 2017. Since then, the Bank has established joint working and cooperation relationships with leading international banks and financial institutions to finance infrastructure projects inside Iraq, Reconstruction of Iraq.

It is worth noting that BTI is a leading financial institution in Iraq and has financial transactions with a network of 417 international banks in 61 countries around the world.

At the end of 2017, the total assets of the Iraqi Trade Bank amounted to US $ 19.300 billion, with a net profit of US $ 362.432 million. The Iraqi Trade Bank has a local branch network of 25 branches across Iraq with 122 ATMs and cash deposit. And is one of the most important banks in the Middle East because of its global reputation enabled him to win many awards, and this success is attributed to the confidence of customers and citizens of the bank.

(Mnt Goat – as we all should know by now the Iraq Bank of Trade is the largest bank in Iraq and was set up in 2003 specifically for conducting trade with neighboring countries. But this has not always been the case. But now things are beginning to see the light and moving ahead as planned almost a decade ago. This new status is really good news. Everyone should be VERY happy today. This news however does NOT mean the currency is now international. )

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

IRAQ AND IRAN ARE ENGAGED IN NEGOTIATIONS TO SET UP CREDIT ARRANGEMENTS FOR TRADE IN THEIR NATIONAL CURRENCIES

Monday, 17 December 2018

The chairman of Iran-Iraq chamber of commerce has said the central banks of the two countries are engaged in negotiations to set up credit arrangements for trade in their national currencies.

U.S. sanctions on Iran have virtually cut off the country’s banking relations with the rest of the world, especially in U.S. dollars.

Iraq is one of Iran’s major trading partners, but is reluctant to violate the sanctions

However, Yahya Ale Es’haq insisted in an interview with Tasnim news agency, “We don’t have a problem in exports to Iraq” and the new banking arrangement “is to facilitate transactions”.

He added that currently business transactions between Iraq and Iranian merchants take place via currency exchange bureaus and a couple of banks.

The head of the chamber of commerce said that since the beginning of the Iranian new year on March 21, exports to Iraq totaled $8 billion.

The United States has been engaged with Iraq on the sanctions issue, issuing a waiver to Baghdad for 45 days to continue importing Iranian natural gas, which is vital for Iraq’s electricity generation. The grace period is soon coming to an end.

Last week, U.S. Secretary of Energy Rick Perry visited Baghdad with a large business delegation and held talks on sanctions with Iraqi officials.

(Mnt Goat – so this article proves once again that they Iraq dinar is NOT yet being used for trade with Iran replacing the US dollar. They are hoping they can do this but we all should know they CAN NOT without the reinstatement taking place and the dinar going international. This must come first. But this is yet another item to put pressure on the CBI to get it done.

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
Mountain Goatee
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MTN GOAT

Post by Scotchie on Fri Dec 21, 2018 10:44 pm

Mtn Goat has made a career by posting two/three times a week about the dinar.

He/she has no contact with the CBI.

I do believe, however, there will be a project to delete the zeros.  And that would be for a redenomination.  Eventually all those outside of Iraq will hold worthless paper.  Yes, more worthless than today, because they will not be able to sell them back to the dealer.  The dealers will have nothing to do with dinar.  They already have nothing to do with the zim.  The dong is internationally tradable, so no loss there. 

Oh, me oh my, how did I believe in this scam for almost three years?  I consider myself to be pretty smart.  I guess I saw dollar signs and canceled out the truth. 

To think a friend of mine in Australia still believes the zim will revalue any day.  There is no talking to him.  He lost everything by investing a penny stock that went end up, and is trying to get his money back from the zim.  He lives on a mattress on the floor of a friend, and is in his 60's.  I try to humor him through email..  SAD

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