Mountain Goat 1/16/19

by **Mountain Goatee** Wed Jan 16, 2019 12:04 pm

January 16, 2019 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

Do you believe it is mid January already?

More news….

The first four (4) articles in the articles section of today’s newsletter are from the past news media in Iraq. I specifically picked these out from hundreds of articles about the Iraqi dinar in my archives. I placed them in order of year from earliest to most recent. I did this to bring out some VERY important points in each of them. So when you get to this section today please pay close attention to my comments.

Following these four past articles are a few more recent articles from this week along this same subject matter. These articles further show us that we can expect the reinstatement soon and thus a significant rise in the value of the Iraqi dinar.

Will the reinstatement happen in 2019?

We don’t know when the reinstatement will occur for sure and many say the project to delete the zeros is now all done. So go figure?

Yes, all done but where is it then? This news is coming from some VERY credible sources of information, and if I thought them bogus, I would not be speaking about them today.

So going back to the “when” question. Remember I have told everyone that if we did not see the reinstatement by the end of March 2018 that this process would bleed into the May elections and probably be postponed until AFTER the elections. This is what happened. I then also have showed you proof that the month of January has been targeted each time we LEGITIMATELY knew and can confirm that an attempt was to be made to reinstate the dinar. I was then postponed again and again. I am not talking about all this bullshit about every day / every weekend RV episodes from these idiot gurus.

Today I show you, from these past articles, what has caused the delays and that now there are no more delays expected. The process is on the move. They are telling us once again 2019 is our timeframe. OK – hold on to your horses! I do not know the exact timeframe in 2019 but all we can confirm is two things – 1) they just told us this week in the news media that 2019 is our year and 2) we know they normally like to target January and we still have half of the month of January remaining.

So let’s see what happens in January and if it does not happen then we move to another target.

Should we get our bottle of champagne ready?

I have to tell everyone the CBI is still telling me they are targeting the month of January. I would not open your bottle of champagne and celebrate as of yet but I certainly would think about getting a nice BIG bottle and get it chilled and ready. But remember this saga is not over until the fat lady sings. Too many signs are showing us that this could finally be our month to see it. It has been a VERY long journey but I thinks perhaps it is coming to a conclusion…finally….

More news….

The Ivanka Trump candidacy for the presidency of the World Bank has been announced on Saturday.

“The US Treasury Department has received the names of potential candidates to succeed Jim Young Kim as president of the World Bank, including the daughter of the US president and his adviser Ivanka Trump,” the Financial Times reported in a report.

(Mnt Goat – I know I presented this to you on Monday’s newsletter and I gave you my perspective on the significance of it. However, I am hearing many of these so called intel gurus telling everyone that Ivanka Trump is the first lady. So let me clear this up for all you idiots out there.

Ivanka is president Trumps’s daughter through his first marriage. Not the first lady who is Trumps wife. Her name is Melania. Get it? So let’s at least get this straight. Even simple information like this is mistaken. Oh – what else are they telling you that is all mixed up if they can’t even get something as simple as this? Go figure?)

More news….

I wanted to bring yet more good news to everyone today on the issue of US government corruption. This news is about two (2) house resolutions proposed before Congress in 2017. I do believe that both of them passed the house already.

They are H.R.- 24 and H.R. – 25. Let’s take a brief look at both of the resolutions. I think you will see the significance of each. If not let me know and I will try to help you. I provided links for each so you can go to the dot gov site and read up yourself for more information.

H.R. 24, Federal Reserve Transparency Act of 2017, 115th Congress

(2017-2018)

(Sec. 2) This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks.

https://www.congress.gov/bill/115th-congress/house-bill/24

I believe this is the first step of many to shut down the Federal Reserve. This event can not just happen overnight. There must be proof of fraud and corruption. It is only under president Trump that any president not only dare to conduct an audit but do something with the results of it. Can this audit be the first of many actions against the Federal Reserve? We can only hope for a swift transition away from the Federal Reserve and its corruptive practices. We all that the US can never permanently fix the national debt or get the economy moving as needed to rectify this situation if the Federal Reserve is still in place making monetary policy for the US.

H.R. 25, Introduced in House (01/03/2017)

FairTax Act of 2017

https://www.congress.gov/bill/115th-congress/house-bill/25

This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2019, with adjustments to the rate in subsequent years.

There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government functions.

Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury. Note the bill says US Treasury not the IRS. The end result of this bill will abolish the IRS.

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

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

DELETING ZEROS FROM IRAQI DINAR NEEDS UNAVAILABLE STABILITY, SAY EXPERTS

by Layla Mohammed Nov 9, 2008

Iraq-Feature BAGHDAD / IraqiNews.com: Economists have agreed that the long-term project of deleting zeros from the currency which the Central Bank is planning to implement needs ‘unavailable’ economic stability. “The central bank’s decision to delete the three zeros is not a new decision in the long run on the economic arena, and there are several countries that adopted that decision, including Germany,” Economist Abdul Karim al-Halafi told IraqiNews.com.

“The Iraqi case does not have the objective conditions to delete the zeros because Iraq suffers from structural economic problems and a high percentage of inflation as well as the increase in the unemployment rate,” al-Halafi said. “Iraq can’t continue this decision in the short run nor the long run,” he added, noting that Iraq can delete the zeros when there is a strong production and no structural disorder.

The Central Bank of Iraq (CBI) had announced last October 2008 a long-run project to delete the three zeros from the Iraqi dinar to improve the Iraqi currency status. For his part, Hilal al-Taan, researcher and academic, said “deleting zeros project was suggested by Finance Minister Bayan Jabr al-Zubaidi and could be studied and implemented as a medium or long-run project and could not be implemented without an economic stability and the improvement of the Iraqi dinars exchange rate.”

Meanwhile, Abdul Hussein al-Aanbaki, the prime minister’s adviser, objected the project and told IraqiNews.com “I do not agree with this policy and I do not agree with changing the currency shape or deleting the three zero.” He stressed that the situation will not change for the Iraqi citizen and the only thing that could happen is paying extra money for canceling the old currency and reprinting the new currency and will not has a positive impact on the inflation.

Another economist, Mohamed Islamil, told IraqiNews.com “deleting the three zeros is a very complicated economic issue which needs accurate statistics and analysis for the whole economic activities, the matter is not available in Iraq.” SH (S)/SR 12.

(Mnt Goat – So we are seeing from this article in 2008 the very first signs of the project to delete the zeros announced to us. They told us then it “ is a very complicated economic issue which needs accurate statistics and analysis for the whole economic activities” Later in the article is also says “The Iraqi case does not have the objective conditions to delete the zeros because Iraq suffers from structural economic problems and a high percentage of inflation as well as the increase in the unemployment rate,”. So from this second quote we see that they do not want to delete the zeros while a high inflation rate such as in 2008 and will wait until they can control inflation. So this again shows us this is NOT going to be a “lop” since a lop is performed under very high inflation rates and to restart a currency. So Iraq needs first to reduce the inflation rate. It is now 10 years later and we know inflation has been controlled and is nowaround 2% or less today and this has been determined as acceptable.)

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

CHANGING OF IRAQ’S CURRENCY REPRESENTS LARGEST CORRUPTION PROCESS IN COUNTRY’S HISTORY, OFFICIAL SAYS

by Ibrahim Khalil Sep 4, 2011

BAGHDAD / IraqiNews.com: The Economic Advisor of Iraq’s Prime Minister, Nouri al-Maliki, has described the plan of the Central Bank of Iraq (CBI) to change the Iraqi dinar as “THE WORST CORRUPTION AND MONEY-LAUNDERING PROCESS IN THE HISTORY OF IRAQ .”

The CBI must understand that it is playing with fire and undermining the course of the consumers, producers and the economic changes in the country,” Abdul-Hussein al-Anbaky told IraqiNews.com news agency on Sunday, adding that the said step was taking place “at a time when the Iraqi economy was suffering from instability and chaos.”

Anbaky’s STATEMENT WAS ISSUED AFTER ONE DAY HAD PASSED ON AN ANNOUNCEMENT BY THE CENTRAL BANK OF IRAQ OF ITS INTENTION TO CANCEL THE ZEROS FROM THE IRAQI DINAR and to change it, in order to ease out the current inflation, and to encourage CITIZENS TO USE THEIR OWN CURRENCY the dinar, instead of depending on the US dollar.

“The changing of the currency shall be the greatest corruption process in the history of Iraq , because the currency counterfeiting Mafias are ready to change the counterfeited currency with the new currency,” Anbaky said, adding that “the money-laundering merchants would come with trillions of Iraqi dinars to change them.”

Anbaky, at his position AS THE GOVERNMENT’S ECONOMIC ADVISOR, HAD CALLED ON THE ECONOMIC COMMITTEE OF THE COUNCIL OF MINISTERS “NOT TO RESPOND TO THE DRAFT-LAW FOR CHANGING THE IRAQI DINAR, raised by the CBI to the Council for ratification.”

(Mnt Goat – So this article has Nori al-Maliki all over it. As an Iranian backed prime minister he did not want to delete the zeros and reinstate the currency. He knew that if he did it would drastically impact the trade with Iran since they would have to use Iraqi dinar and not US dollars. The Iranians want the US dollars. I quote from the article – “Nouri al-Maliki, has described the plan of the Central Bank of Iraq (CBI) to change the Iraqi dinar as “THE WORST CORRUPTION AND MONEY-LAUNDERING PROCESS IN THE HISTORY OF IRAQ”. But who was causing this corruption and money lauderiing? Could it be Maliki and his goons? Of course it was and it has been proven already. So this is the real reason. He did not want to upset his corruption operations in 2011. So this article tells us why the project to delete the zeros was postponed again in 2011. Remember all the hype back then? )

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

ECONOMIST HIGHLIGHTS FEASIBILITY OF CROSSING OUT ZEROS FROM IRAQI DINAR

by Ibrahim Khalil Sep 17, 2012

Baghdad (IraqiNews.com) The economist, Basim Jameel, criticized the officials who used to attribute the delay in implementing the process of deleting out zeros from the Iraqi dinar to the “unstable security and economy situations.”

Jameel stated to IraqiNews.com “Everything in Iraq is subject to the resolutions and moods of the politicians,” noting that “There is an item in the law of the Central Bank of Iraq THAT AUTHORIZES IT TO PRINT AND CHANGE THE IRAQI DINAR.”

He continued saying “THE DELETION OF ZEROS FROM THE IRAQI DINAR IS VERY SUITABLE IN THIS STAGE because it helps in eliminating the inflation caused by the huge amounts of currency notes in the Iraqi markets, besides it helps to ease the calculation process for currency notes.”

He assured that “This step will NOT AFFECT THE PURCHASING POWER OF THE IRAQI dinar.”

“Adopting this step will be of great benefit for the foreign investors and the IRAQI DINAR TO USE IT INSTEAD OF THE US DOLLAR which will positively affect the governmental banks,” the economic expert assured.

The Council of Ministers has decided in its session of last April, 10th 2018 to postpone implementing the process of crossing out zeros from the Iraqi dinar till further notice.

(Mnt Goat – This article is gem of an article. In the year 2012 is the first time that we began too see articles telling us the positive aspects of the project and that they wanted and needed to go forward with it. As the year 2012 progressed we read yet more positive signs that Dr Shabibi, then the director of the CBI, wanted to more the project ahead and trigger the reinstatement in Jan 2013. We also can see in this article that the reinstatement also needs parliament and finance committee approval and support. I quote form article– “Everything in Iraq is subject to the resolutions and moods of the politicians”. So we know now the process. No more asking just who is in change of it. The CBI will do the actual implementation of the process but they will need political support from the government to approve of it.)

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

IRAQI DINAR REVALUATION POSTPONED BY CENTRAL BANK FOR 5 YEARS SAYS MP NOURA AL-BAJARI

by Amre Sarhan Oct 29, 2014

Baghdad (IraqiNews.com) A member of the Parliamentary Economic and Investment Commission, MP Noura al-Bajari, confirmed on Wednesday that the initiative to revalue and delete zeros from the Iraqi Dinar is ready for implementation by the Central Bank although it will be delayed by five years given the political and security situation of Iraq.

In an interview with IraqiNews.com al-Bajari said “THE POLICY TO DELETE ZEROS FROM THE IRAQI CURRENCY IS READY TO BE EXECUTED BY THE CENTRAL BANK, however, its implementation will be delayed by 5 years on the basis of the extreme security and political situation of the country.”

Al-Bajari said that the head of the Central Bank of Iraq had previously said that this policy from parliament was accepted and that the zeros will be deleted from the Iraqi currency in the next 5 years.

(Mnt Goat – This article shows us two things:

1)that the policy to delete the zeros is now ready to go by 2014 (remember in 2008-2011 they were NOT ready. So what has changed? All the efforts of banking and financial reforms under Abadi, I quote from the article – “THE POLICY TO DELETE ZEROS FROM THE IRAQI CURRENCY IS READY TO BE EXECUTED BY THE CENTRAL BANK “

2) it shows us that the ISIS invasion in 2014 postponed the project even tough the CBI was ready. They projected a 5 year wait afterwards to do it. This brings us to 2019. Right? I quote from the article – “Central Bank although it will be delayed by five years given the political and security situation of Iraq.”

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

WHEN WILL THE IRAQI DINAR BE REVALUED?

January 14, 2019

The revaluation of the Iraqi dinar is ready to be implemented by the country’s Central Bank; however, the Parliamentary Economic and Investment Commission HAD DECIDED TO POSTPONE THE REVALUATION UNTIL NOW TO 2019.

THE PLAN IS TO ELIMINATE ZEROS FROM THE VALUE OF THE IRAQI CURRENCY, ALLOWING THE DINAR TO GAIN VALUE ON THE GLOBAL MARKET.

With the anticipation of the Iraqi dinar revaluation, millions of dinars have been bought all over the world by investors. Those investors hope that the revaluation of the dinar will increase the value of the currency, which would make all of their dinars worth significantly more than when they bought them. However, the revaluation continues to get postponed and is set for 2019 as the country faces more pressing political issues.

Currency revaluation refers to a calculated upward adjustment to a nation’s exchange rate relative to its chosen baseline. The process is undertaken by nations with fixed exchange rates to deliberately increase the value of its own currency relative to a single currency, a basket of international currencies or whatever the underlying baseline may be.

Currency revaluation only occurs in fixed currencies, meaning the currency is pegged to a foreign currency, a basket of foreign currencies or a different quantitative benchmark. The process may only be undertaken by the underlying nation’s government or policymakers. The act of altering the value of a nation’s currency relative to other currencies is typically influenced by market pressures. The pressure is now.

A government typically revalues its currency when it wishes to increase the value of its currency relative to its benchmark currency. This maneuver would officially increase the purchasing power of the nation’s residents while decreasing the price of imports.

Revaluation is the inverse of devaluation, which is the official lowering of the value of a nation’s currency within a fixed exchange rate. Under this measure, the underlying government establishes a new fixed rate respective to the benchmark.

The International Monetary Fund encourages governments and policymakers to refrain from manipulating exchange rates to gain unfair competitive advantages over foreign currencies.

(Mnt Goat – So again the CBI is telling us and I quote - “ the revaluation of the Iraqi dinar is ready to be implemented by the country’s Central Bank; however, the Parliamentary Economic and Investment Commission HAD DECIDED TO POSTPONE THE REVALUATION UNTIL NOW TO 2019”.

What is this telling us?

1)Again the CBI does not work alone and needs the support of the rest of the government.

2)The project to delete the zeros was postponed until 2019. Again like in the 2014 article above this confirms that perhaps this year of 2019 is our year to get it done.

It is now January 2019 folks!

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

BUDGET BILL OBLIGES THE IRAQI GOVERNMENT TO PAY THE SALARIES OF KRG EMPLOYEES, SOME 521 BILLION DINAR ($437.8 MILLION) MONTHLY

January 14, 2019

BAGHDAD – Kurdish lawmakers in Baghdad have succeeded in enshrining the payment of Kurdistan Regional Government (KRG) employees and Peshmerga in the 2019 budget bill. These payments will be protected, even if the Kurdistan Region fails to hand over oil to the Iraqi government.

"We focused on guaranteeing [KRG] employees' payments, and installed in the budget that [salaries] are given to the Kurdistan Region monthly even if there is no political agreement between both sides," Bashir Haddad, deputy speaker of the Iraqi parliament, told Rudaw.

The budget bill obliges the IRAQI GOVERNMENT TO PAY THE SALARIES OF KRG EMPLOYEES, SOME 521 BILLION DINAR ($437.8 MILLION) MONTHLY, the same way it pays state employees in other parts of Iraq, Haddad added. THESE PAYMENTS ARE NOT TO BE A BARGAINING TOOL DURING POLITICAL DISAGREEMENTS.

Under the bill, THE KRG WILL HAVE TO HAND OVER 250,000 BARRELS OF OIL DAILY TO BAGHDAD.

The parliament wrapped up its discussion on the 2019 draft budget on Thursday. It will convene on Saturday, but the budget is not on the agenda.

While KRG and Peshmerga salaries have been enshrined in the bill, “passing it will not be easy,” Hoshyar Abdullah, a member of the financial committee, wrote on Facebook.

The KRG’s failure to hand over oil to Iraq’s state marketing company SOMO has caused upset some lawmakers, he explained.

Erbil’s independent oil sales are a major sore point in Baghdad, which stopped sending money to the regional government in 2014 over the issue.

Relations between the two governments have improved with the new administration in Baghdad and there is hope that they can resolve some of their longstanding problems, like the disputed areas claimed by both and defined under Article 140 of the constitution.

The budget bill dedicates 50 billion Iraqi dinar ($42 million) for reopening Article 140 offices in Kirkuk and Nineveh and an additional 800 billion dinar ($672 million) for implementation of the article.

The section of the constitution dictates that the disputed areas must be resolved via a referendum to determine whether they will remain part of federal Iraq or be absorbed by the Kurdistan Region. It was supposed to have been enacted more than a decade ago, but successive governments have failed to do so.

The parliament's finance committee is expected to send a delegation to the Kurdistan Region in the near future to discuss these matters and ensure the Region will hand over oil to SOMO.

Kurdish lawmakers are hopeful this is a good sign.

"REVITALIZATION OF ARTICLE 140 AND DEDICATION OF THE BUDGET SIGNIFIES A POSITIVE POLICY BY THE FEDERAL GOVERNMENT to work on the issue and not let it die,” MP Muthana Amin told Rudaw.

But he warned not to be complacent, pointing to reported ongoing Arabization in Kirkuk..

(Mnt Goat – This is what is holding up the budget. This issue is not the first time the Kurds wanted guarantees to get paid on time. Can they now get this guarantee? They will NOT let article 140 die.)

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

IRAQ HAS BECOME MORE STABLE AND SECURE THAN IT HAS BEEN SINCE 2003

AMERICA IS WORKING TO CONCLUDE MORE CONTRACTS AND OIL DEALS WITH IRAQ

January 14, 2019

The British Economist magazine said that America is working to conclude more contracts and oil deals with Iraq, through leading companies, especially in the field of energy.

According to the weekly magazine, IRAQ HAS BECOME MORE STABLE AND SECURE THAN IT HAS BEEN SINCE 2003. During his recent visit to Baghdad, US Secretary of State Mike Pompeo stressed the continuation of US support for the Iraqi security forces and the independence of Iraq in the field of energy. To stop buying Iranian gas and start contracting with US oil companies to develop gas fields in the country.

And revealed that the US leading energy companies, such as Chevron, are negotiating directly with the Iraqi Oil Ministry to obtain huge concessions, while Exxon negotiating to establish deals to increase the volume of oil exports and the construction of a major desalination plant, and signed American companies deals to supply Iraq with grain and poultry as well.

The UNITED STATES WILL HAVE DIFFICULTY IN KEEPING IRAQ AWAY FROM IRAN, because the latter depends on Iran in many things. When Iran cut off electricity from Iraq last summer because of its inability to pay, anti-government protests in southern Iraq erupted, creating a crisis The fact led to the overthrow of the government.

(Mnt Goat – I quote from the article – “IRAQ HAS BECOME MORE STABLE AND SECURE THAN IT HAS BEEN SINCE 2003.” So where it the RV then? We also confirm again that Iran is a problem but the US can help Iraq get off the dependence of Iraq on Iran and is doing so. So is this all just part of the sanctions or a larger movement towards isolating Iran? This has to be done carefully since I don’t think the US really want another war or can afford one.)

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

THE DINAR AND ITS IMPACT ON THE NATIONAL CURRENCY

January 14, 2019

Since the Islamic Republic of Iran entered into the second package of sanctions imposed by the United States, which includes two important sectors are the energy sector and the banking sector, and raised some questions on the impact on the Iraqi economy if the exclusion of trade between Iraq and Iran, Excluded some countries, including Iraq for (90) days, to settle the accounts related.

Suppose Iraq and Iran signed an agreement that would lead to dealing with the dinar and riyal. What is the impact on the Iraqi dinar?

The demand for money and the exchange rate is a positive one, and I mean the price of the dinar against the dollar. The higher the demand for the dinar, the higher the value of the national currency. And the increase in the volume of foreign reserves in the Central Bank and this will enhance the ability of the Central Bank to defend the dinar against any future dollar demand, especially that take care Cash Attiyat cover the needs of the country for more than 9 months. This exceeds the standards set by international financial institutions.

The reason is that the monetary demand function is moving to the top rather than the demand only, as a result of changing the method of repaying foreign trade receivables in Iraq in dinars and not in dollars. In the case of a monetary cash leak from Iran and dollars for Iran on the black market without legal controls, the equation will be reversed. Presenting the dinar at home the central bank is exposed to pressure in the exchange rate and sells large quantities because of the increase in the dinar.

There should be a unit of measurement for the two currencies, and the most accurate currency is the dollar, but will the US accept that the dollar is the criterion for determining the values of the two currencies? This is what we will touch in the coming days after the continuation of the Iraqi-Iranian agreement.

(Mnt Goat – This article is all about suppose that Iraq and Iran signed an agreement that would lead to dealing with the dinar and riyal. What is the impact on the Iraqi dinar?)

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 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 reinstatement 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