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Mnt Goat News Brief 8/20/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Mnt Goat News Brief 8/20/19

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Post by RamblerNash on Tue Aug 20, 2019 9:53 pm

Hi Everyone,

I bring you much news today.

Remember last Thursday’s newsletter? Not much to report then but now the flood gates have opened and the news is pouring in.

So, let me recap on the news today. The parliamentary finance committee has decided that the CBI needs to move to the next step of the “project to delete the zeros” and put the Iraqi dinar on a “level playing field” with the rest of the middle east currencies.

Yesterday they came out with the announcement to re-mint the Iraq coins once again. They are saying they now need to put together legislation in which to give the CBI permission to do so.

Didn’t the CBI plan this step all along to provide coins as part of the project to delete the zeros? Weren’t coins part of the smaller category notes all along? Didn’t they already try to issue them back in 2004 unsuccessfully?

The answer to these two questions is YES, YES and YES! However, now they are going to do it again and they just told us they are going to do it. This is the important part. When they do, will they need a rate change? This is the important part of all this latest announcement.

So in 2004 the CBI issued the 25, 50 and 100 dinar coins but soon withdrew them. Why is this important?

We know they must someday move to the next step of the project to delete the zeros. The CBI already somewhat moved forward already putting emphasis on the 250, 500 and 1000 dinar denominations as petty cash for the citizens. Remember I told you then the next denomination we should be looking for is the 100 dinar. So if they follow the procedural next step, as we think they will do, they will now be issuing at least these same three denominations of smaller categories in coins once again meaning 25, 50 and 100 dinar coins. To do this they will need a higher exchange rate. But before we all go out and buy champagne and jump up and down let us look at some variables here that need to be answered first.

So what do we watch for next? Let us look at the FACTS.

NO Hype, No Rumors,,,,,just the FACTS!

1)They will need this piece of legislation they are telling in today’s articles that will need to get passed by parliament to allow the re-minting of these coins.

2)What denominations do they plan to re-mint? They do not tell us in today’s articles. Will it be the 25, 50 and 100? Using the term “re-mint” in the articles today suggest they do. Incidentally Syria just announced it will issue new Syrian banknotes 25, 50 and 100. Is this coincidental? The currency in Iran is the Iranian rial. Coins are available in denominations of: 50, 100, 250, and 500 rials. Is this coincidental. What is going on here? Just so you know I am not supporting any notion of investing in the Syrian pound or Iranian Rial/Toman. I just wanted to note these FACTS.

Are they (the IMF and World Bank) trying to put in place a “level playing field” for these currencies? So, again this is all taking place right in front of everyone’s noses yet it get very little attention from all these idiot gurus of yours. Why? Because they are so busy telling you about this crazy notion of their so-called GCR and their so-called basket of currencies, that they are not paying attention and over looking to the rest of the world. They are side tracking you for a reason. Someone is giving them this bad intel to do it. Someone is using all these gurus.

3)Remember if they are going to use coins now to transact business among neighboring middle eastern countries, they will need to send in their orders to re-mint much, much more of them. Will they change over to a new design or use the coins from 2004 to start? Minting a new design will take time and you know how Iraq is in making a decision. But no fear – I believe they will use the exact some coins from 2004.

4)How they will distribute and circulate these coins as the lower denominations? These coins cannot be placed in the ATMs. This will be interesting to watch how they do it.

5)I want to note that the CBI recently added a new link to their site called “know your money”. Here is the link https://cbi.iq/page/92.
It currently is empty but I am told they plan to load it with the explanations of the newer smaller category coins they are about to re-mint.

Just like I have been telling everyone all along. We DO NOT HAVE TO GUESS or make these stupid assumptions or opinions to find out when they intend to increase the value of the dinar against the dollar. I said THEY WILL SIMPLY TELL US and EDUCATE US and so now they are doing it.

My CBI contact has told me that Iraq will keep us abreast of the new developments and we can read the same articles the citizens of Iraq can read. They are keeping their promise.

There are no secrets or reasons for coming up with these ridiculous banks stories or every day / any day timeframes.

More news….

BAD INTEL ONCE AGAIN

So, this jerk TNT Tony is once again filling everyone’s heads with this immediate RV crap. How can they RV when parliament has not even passed the needed legislation (they just told us they need) to get the coins re-minted. This will take time and then they have to somehow issue and get them into circulation. Right off the bat we know this jerk is jerking us all around with his bullshit. Relax and let this coin news come to full reality. It will. The last time we heard about the re-issuing of these coins was in the summer of 2012. I remember it like it was yesterday. Articles back then told us that the CBI planned to issue these same coins in September of that year. Then what was supposed to happen (scheduled to happen next) was the reinstatement of the dinar in January 2013. We know this for a FACT this is not opinion or conjecture. They have since told us they had in FACT planned to do it then but had to postpone it due to the Nori al-Maliki corruption.

Let me summarize:

Are we going to do down this same road of 2012 again? It seems to be playing out that way. If we do I am once again pointing to this January 2020 timeframe which seems that maybe they are tracking to once again. Oh – did I not say this in March that we might have to wait until then?

More news….

08/19/19
Revealed the Finance Committee in the House of Representatives, the formation of a committee to raise the price of the Iraqi dinar against the US dollar.

(Mtn Goat – so this goes hand in hand with the news articles we are reading today about re-minting the coins. The best part is they actually used the terms and referenced directly the “project to delete the zeros”. This means they are getting serious about doing it now. This is what we have been waiting for and so this is super fantastic news (not some fake bank memos))

More news….

The acquisition of the State of Iraq of US Treasury bonds during the month of June 2019, by 30.94%, year on year.
According to Treasury data, Iraq’s holdings of US bonds increased to $ 34.7 billion, up from $ 26.5 billion in June 2018.
Iraq bought US $ 300 million in June.
On a monthly basis, Iraq’s ownership of US bonds rose marginally by 0.87% in June 2019, compared to the $ 34.4 billion in May of the same year.
The ownership of Iraq has increased US bonds since the beginning of this year, about $ 100 million; compared to its ownership at the end of 2018, which was $ 34.6 billion.

(Mnt Goat – Oh – looks like the US Treasury is using Iraq to finance the national debt of over 24+ trillion dollars. They are still playing the take from Peter to pay Paul game instead of addressing the debt and helping to pay it down somehow. Maybe a reduction in spending and increased revenues might help. Oh – what a novel idea….lol..lol..lol… If we ran our Gasthaus this way we would have been out of business a long time ago….lol..lol..lol.. )

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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

FORMATION OF A COMMITTEE TO RAISE THE PRICE OF THE IRAQI DINAR AGAINST THE US DOLLAR

Revealed the Finance Committee in the House of Representatives, the formation of a committee to raise the price of the Iraqi dinar against the US dollar.

"The FINANCE COMMITTEE HAS FORMED A SUB-COMMITTEE TO MAINTAIN THE EXCHANGE RATE OF THE DINAR AGAINST THE US DOLLAR," committee member Abdel Hadi Saadawi told Al-Ahd News on Monday.

He added, "The Committee WILL WORK IN THE FUTURE TO RAISE THE PRICE OF THE DINAR AGAINST THE DOLLAR AND GIVE IT STRENGTH AMONG OTHER CURRENCIES IN THE ARAB WORLD, or at least maintain the current exchange rate to have monetary power within the local market.

(Mnt Goat – we know that if they issue the coins of much smaller categories, they will need to significantly raise the exchange rate of the dinar (the value is already present at 1:1). But when will they “reinstate’ the dinar back to the global currency exchanges? This is what we really want to see happen and is when we go to the bank and not a moment before. Get it. Not before! )

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

PARLIAMENTARY FINANCE: GO TO RE-WORK THE COIN AND "DELETE THE ZEROS"

08/19/2019

The Finance Committee of the House of Representatives announced a move to reintroduce the currency that has been used for decades in the country, stressing the importance of pre-empting the process of minting the coin by "deleting zeros" from current currencies to make the small monetary classes valuable.
Committee member Hanin al-Qaddou said in a press statement, today, that "during meetings and discussions with officials of the Central Bank we stressed the need to re-work the coins that have been used in Iraq during the past decades, instead of paper that is damaged and printed in large quantities again."" According to al-Sabah newspaper.

He added, "The use of metal categories and their descent into trading gives a legal value to the currency," he said, noting that "the exchange rates of a number of neighboring countries are very high against the dollar, and yet we find that they have a coin in order to preserve the currency and do not need to ask for more banknotes, especially with Small categories".

Al-Kaddo expressed surprise at the central bank's policy, which does not favour the introduction of coins in the Iraqi market.

For his part, parliamentary finance member Majid al-Waili expressed the committee's readiness to prepare any legislation requested by the Central Bank, which could benefit the Iraqi economy and market, including the trading of coins.

"The cost of a coin is more than paper, and it is more difficult for the citizen to carry it," said Ahmed al-Saffar, a member of the finance committee.

Al-Saffar suggested that "there is a step to delete zeros before the coin mint process so that there is value for small versus large categories."

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

DISCUSSIONS WITH CENTRAL BANK OFFICIALS, WE STRESSED THE NEED TO REINTRODUCE COINS THAT HAVE BEEN USED IN IRAQ DURING THE PAST DECADES

A member of the Parliamentary Finance Committee Abdul Hadi Saadawi said in a statement on Monday, August 19, 2019, THAT THE FINANCE COMMITTEE WILL WORK TO RAISE THE PRICE OF THE DINAR AGAINST THE DOLLAR AND GIVE IT STRENGTH AMONG OTHER CURRENCIES IN THE ARAB WORLD, or at least maintain the current exchange rate to have monetary power within Local market.

The Finance Committee in the House of Representatives revealed that there is a tendency to reintroduce the coin, which has been used for decades in the country, while members of the Committee proposed to PRE-EMPT THE COIN MINTING PROCESS BY “DELETING ZEROS” FROM THE CURRENT CURRENCIES TO BE VALUABLE TO THE SMALL CASH CATEGORIES.

Committee member Hanin al-Qadu told Al-Sabah semi-official newspaper on Monday, 19 August 2019, that DURING MEETINGS AND DISCUSSIONS WITH CENTRAL BANK OFFICIALS, WE STRESSED THE NEED TO REINTRODUCE COINS that have been used in Iraq during the past decades, rather than Paper that is damaged and printed in large quantities again.

He added, that the use of metal categories and their descent FOR TRADING GIVES A NOTIONAL VALUE OF THE CURRENCY, noting that a number of neighboring countries exchange rates are very high against the dollar and yet we find that it has a coin in order to preserve the currency and not need to request more banknotes, especially those with small categories .

He expressed surprise at the policy of the Central Bank, which does not favor the introduction of coins for circulation in the Iraqi market.

For his part, a member of Parliamentary Finance Majid al-Waeli readiness of the Committee to prepare any legislation required by the Central Bank, which could benefit the economy and the Iraqi market, including the circulation of coins.

Al-Waeli told Al-Sabah that the committee respects the independence of the central bank and its monetary policy, STRESSING THAT THE BANK HAS TECHNICAL AUTONOMY BY DECISION REGARDLESS OF ADMINISTRATIVE AFFAIRS.

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

A REASON TO PREVENT THE MINTING OF COINS

8/19/2019

BAGHDAD – Mawazine News

Identified the Finance Committee in the House of Representatives, on Monday, a reason to prevent the minting of coins, the introduction of a proposal before minting.

Majid al-Waeli, a member of the committee, expressed the READINESS OF THE COMMITTEE TO PREPARE ANY LEGISLATION REQUIRED BY THE CENTRAL BANK, which could benefit the Iraqi economy and market, including the circulation of coins.

“The committee respects the independence of the central bank and its monetary policy,” he said, stressing that “the bank has technical autonomy by decision regardless of administrative affairs, which decides the usefulness of the move to use the coin.”
And the MP Waeli, that “Iraq can not reproduce the experience of other countries in the use of those currencies, if it was in favor of the advancement of the economy; we can support this by listening to the justification and the views of the Central Bank ‘s view and then the appropriate legislation of laws for the continuation of the monetary policy the country has to proceed properly. ”

Committee member Jamal Kojer stressed that “all countries in the Middle East and the world have a coin,” noting that “this type of currency gives strength to its economy.”

Kojer said he hoped that “the concerned parties can strengthen the currency SO THAT SMALL GROUPS CAN HAVE PURCHASING POWER IN THE EVENT OF THE USE OF COINS”.

Committee member Ahmed al-Saffar said, “The cost of a coin is more than paper money, and it is more difficult to carry it on the citizen.”

He said al – Saffar, that ” the winning of inflation in the economy prevents the sake of coins and make trading between citizens”, suggesting that “be no step to delete the zeros precede the process of coinage metal to be there the value of small groups versus large” .

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

THE EXISTENCE OF SUSPICIONS OF CORRUPTION IN THE CONTRACTS OF "KI-CARD" AND "MASTER CARD"

A member of the Parliamentary Finance Committee, Hanin Kaddou, on Thursday, the existence of suspicions of corruption in the contracts of "ki-card" and "master card", pointing out that investigative committees have been formed to follow up the case.

Kaddou said in an interview with "Kilkamsh Press," that "there are sub-committees formed by the parliamentary Finance Committee to audit the file and the work of the Central Bank of the Central Bank," noting that "the committee is still working to audit the files and suspicions."

He pointed out that "the imbalance in the contracts of the companies (K-Card and Al-Maskat Card) can be used to smuggle funds."

"There are suspicions of corruption at the origin of the contracts, but so far we have not stood by them and the commission is continuing its investigation and will announce its results after the investigation is completed," she said.
He pointed out that "the Committee asked the Central Bank to withdraw its decision to suspend the work of (ki-card), because that will harm the staff."

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

KURDISTAN DELEGATION VISITS BAGHDAD: WILL RE-STAKE THE TERRITORY OF THE FORMER, WHICH AMOUNTS TO 17% IN THE BUDGET, THE NEXT YEAR, COMPARED TO THE DELIVERY OF OIL ONCE AND FOR ALL”

10 August 2019

Arbil/ news network Iraq- Revealed an informed source in the Kurdistan region, Thursday, files to be discussed by the delegation of Kurdish High, who intends to visit Baghdad next week.

Said the source, who declined to be named, said that “the delegation intends to put the file citizen 2020 in terms of delivery of oil in a final agreement on a final formula, the end of this file that opens the table about a year”.

He added that “the delegation will re-stake the territory of the former, which amounts to 17% in the budget, the next year, compared to the delivery of oil once and for all”, noting that “Re-Formation Room of the joint operations between the Peshmerga and the Iraqi army in the disputed areas, from among the files in question.”

He pointed out that “the delegation will be on a high level, represents the Multiple ministries in the government of Kurdistan”.The informed source in the Kurdistan region, revealed on Saturday (10 August 2019), for the determination of a Kurdish delegation visiting Baghdad after the holiday of Eid al-Adha, to complete talks on outstanding issues between the centre and regional levels.

The source said, the “high-level delegation from the Kurdistan region, comprising the ministers of Peshmerga, finance and planning and a number of advisers, will visit Baghdad after the holiday of Eid al-Adha directly.”

(Mnt Goat – I believe this dispute is all over and as usual Kurdistan gets what they need and agreed to per constitution)

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

NEXT LEGISLATIVE TERM WILL FOCUS ON GOVERNMENT EVALUATION

Hazem al-Khalidi, member of the parliamentary committee to follow up the implementation of the parliamentary program, said on Friday that the next legislative term will focus on the government evaluation from the ministers to the prime minister.

Khalidi said in an interview with Alsumaria News, that "most of the paragraphs that have been applied and given priority in the program of the Prime Minister is not important and the citizen did not touch anything clear of them," noting that "the government measures so far did not address unemployment and the housing crisis and the protection of local product and agricultural side." .

(Mnt Goat – Sounds like out own congress. Just politics and not working for the people. )

*************************************************************
IRAQI INDIVIDUALS AND COMPANIES LINKED TO IRAN ARE SMUGGLING CASH OUT OF THE COUNTRY TO AVOID FINANCIAL SANCTIONS IMPOSED BY THE US TREASURY

Iraqi individuals and companies linked to Iran are smuggling cash out of the country to avoid financial sanctions imposed by the US Treasury.

Despite technically being denied access to US dollars by Iraq’s central bank, they are exploiting the bank’s daily auction of hard currency by employing middlemen to convert Iraqi dinars into dollars. The funds are then transferred out of Iraq using private exchange offices.

“In previous months, the daily release rate of the dollar at the currency auction was between $150 million and $180 million, sometimes up to $200 million. In the past few days it has reached $270 million,” the owner of a large currency exchange and financial transfer office in Baghdad told Arab News.

There is “no noticeable justification” for the sudden increase in dollar purchases, exchange operators said. Traders at Shorja Market, the largest wholesale market in Baghdad, told Arab News the surge in remittances could not be explained by any changes in the market, where there had been a shortage of hard cash since the end of last year.

Daily buying and selling remained weak, they said. One prominent banker told Arab News:

“Traders have nothing to do with this fever; 80 PERCENT OF THE REMITTANCES THAT WERE MADE THIS WEEK WERE CASH TRANSFERS AND WILL BE DELIVERED BY HAND.”

On July 18, the US Treasury’s Office of Foreign Assets Control imposed financial sanctions on groups and individuals including two commanders of pro-Iranian paramilitary groups and two former governors supported by Iran. The sanctions were imposed under the Global Magnitsky Human Rights Accountability Act, targeting “perpetrators of serious human rights abuses and corruption,”and banned any financial dealings with those named.

In response, the Central Bank of Iraq issued a circular to all Iraqi banks ordering them to freeze the accounts of anyone targeted by sanctions and prevent their access to funds.

There was a wave of criticism and anger from Iraqi politicians and leaders of armed factions, especially those associated with Iran, who complained of “unilateral sanctions that violate Iraqi sovereignty and target Iran and its allies in Iraq under the pretext of human-rights abuses and corruption.”

The protests were accompanied by heavy pressure on Iraqi Prime Minister Adil Abd al-Mahdi and the governor of the central bank to change the policy. Four days later the bank issued a new circular that limited the financial freeze to US dollars only, permitting withdrawal of Iraqi dinars. It was then that the surge in dollar purchases through middlemen began.

Bankers said depositors were withdrawing their funds in Iraqi currency "to avoid attracting the attention of the US Treasury, which monitors the movement of the dollar in Iraq.”

Iraqi security officials, members of parliament and armed faction leaders told Arab News that most politicians and commanders associated with Iran, or who enjoyed its support, were “deeply concerned” as they believed they could be targeted by US Treasury sanctions at any time. This has prompted them to withdraw their money from Iraqi banks and transfer it abroad to “minimize the damage.”

“The sanctions have deeply confused and concerned them,” a senior Iraqi national security official said. “They began to withdraw their money from Iraqi banks and settle their financial assets with the Iraqi government to reduce the damage and avoid having their assets frozen and property seized in the event of sanctions.

“Our information suggests that they transfer most of the money to private companies in Dubai, and use some of it to buy property, both inside and outside Iraq.

“Actually, this is not new. THEY HAVE BEEN LAUNDERING THEIR MONEY FOR YEARS, BUT WHAT HAS HAPPENED NOW IS THAT THE SANCTIONS HAVE ENTANGLED THEM and forced them to change how they do it.”

(Mnt Goat – Why is this such BIG news all of a sudden. We all know this has been happening since 2011. What I want to know is what are they going to do about it to stop it? They never tell you that part. )

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

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. The major war with ISIS has been over since Dec 2017. Let us all know that there is a new battle now to fight. A battle to save our homelands from the corrupt politicians and secret societies 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 and enslavement of people 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 all leaders of all nations, that they may be anointed by the Holy Spirit to do God’s will to bring about abundance and prosperity to all.

To fight this waging war on corruption, our freedoms, our liberties, socialist plans and injustice.

That the FREE WORLD may be a shining example for the rest of the entire planet.

In the name of Jesus Christ our King and Savior, Amen”

Auf Wiedersehen
Much love to ya all,
Mnt Goat
RamblerNash
RamblerNash
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