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Mnt Goat News Brief 11/26/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat News Brief 11/26/19

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Mnt Goat News Brief 11/26/19 Empty Mnt Goat News Brief 11/26/19

Post by RamblerNash on Tue Nov 26, 2019 11:03 pm

Hi Everyone,

I bring you much news today.

Kurdistan Regional Government (KRG) Prime Minister Masroor Barzani and Deputy Prime Minister Qubad Talabani met on Sunday with the US Congressional delegation to discuss political and security developments.
The meeting discussed, the war against terrorism, and the current events in Iraq, stressing the right of peaceful demonstration of citizens, and the refusal to use violence against protesters.

The two sides also stressed the need to discuss solutions to the problems resulting from the failure to implement the Constitution.

So, how many times have I said in my many newsletters over the years that the new Iraqi constitution MUST be implemented IN-FULL or no RV? Oh – I have said this many times …. like in almost every newsletter?

We can see what the failure to implement it is now doing. This is all just the ramifications of not following the democratic process. This is why the constitution exists. Oh – don’t mistake me, the Iranians also have much to do with not implementing and blocking the constitution and so they too must go or no RV. See how it is all interconnected?

Now all these so-called intel gurus can bash me once again, but like I said time will tell who the intelligent one is and who the dummies are. Who are you going to listen to? I am tired of these guys who make these predictions when I know darn well there is no chance in hell for the RV.

We now approach January again. Is Iraq going to be ready? We know that the demonstrators want the HCL payments promised them. Remember this was delayed from September 2018 until January 2019 and then the RV did not happen and so no HCL payments happened. These events are all interconnected.

Here is how it is going to work:

1)The CBI must raise the rate of the dinar in-country to around $1.00 probably more like around 83 cents.

2)Then just before or around the same time the smaller of the smaller category notes must be launched and dispensed. We know these notes are now poised and ready to be dispensed at the banks.

3)The currency auctions will change. They many never end altogether but will no longer be mandated for providing US dollars for trade with the outside world. Instead the dinar itself will be used.

4)Shortly afterwards the dinar will then be “reinstated” on the global currency markets and traded. But first a short waiting period to check for inflation with the new currency and rate. I am told this may take upto 3 days, 3 weeks or 3 months. I do not believe it will take 3 months.

But first the US and Sadr must work their magic to get the political will and consensus to do this move of the currency reform.

So what happened just this week so far in this direction?

Just in Tuesday 11/26 AM……
Informed source said on Tuesday that the parliamentary Finance Committee hosts the Governor of the Central Bank Ali al-Allaq and the Director General of the tax. The source told Mawazine News, "The parliamentary finance committee is hosting today, the central bank governor and the director general of the tax to discuss the mechanisms of selling the currency."

I also put another very recent article on the process of selling currency in the currency auctions. Many of you investors as well as so-called intel gurus should read it and study it. No hype, No rumors, No opinions…just the FACTS as to how these auctions work. Many think these auctions are selling dinars. They are NOT. As I have told you many times the auctions take in the dinar and exchange it for US dollars so the merchants can then pay for imports to stock their stores. Since the embargo and sanctions the dinar was worthless and so who the hell wanted it in the past. The IMF had to do something to allow Iraq to buy imports. They have used this same process many times with many other countries.

So the here it is 2019 and they war has been over since 2003, the new constitution written and enacted since 2005. The CBI has told us they can hold the fluctuation of the dinar to 2% either way and inflation is at a all time low. We also know the UN member nation Chapter VII sanctions have been all lifted. So why is the currency then not reformed?

Would anybody actually want the dinar outside of Iraq, if and when they started to us it instead of the US dollars? This is the question we all should be asking. The answer is YES! But corruption in Iraq by the Iranian backed politicians has artificially kept the dinar low and prohibited it from ending this process of the currency auctions. As a result of all this Iranian corruption the US still maintains the OFAC sanctions on the dinar, something it should have lifted when the IMF sanctions were all lifted.

Why does the US still maintain these OFAC sanctions then?
So the US is part of the problem in not moving ahead with currency reform. The US maintains that they need 1) the Iranian influence out of the CBI and out of Iraqi politics; 2)since Obama administration the rules have changed on how the timing of allowing the currency reform, Under the original G. W. Bush intent was to complete this reform quickly and use it as a stepping off platform to rebuild the Iraqi economy. However when president Obama took office he quickly changed this policy and forced Iraq to first rebuild and reform the banking system and economy.

Was this such a good idea under president Obama?
As investors we must take off our greedy little money hats and look at the situation honestly. Obama did have a good intention however it was flawed. On one hand he wanted the reforms but on the other hand he pulled the US military out of Iraq too soon leaving a gap that ISIS soon filled. Iran then came into Iraq to help fight ISIS and never left. This is where we are today.

But we know the CBI did continue to move ahead with many of the banking reforms and set Iraq up for success, should he be allowed to move ahead with the project to delete the zeros. There are not even many people within the financial committee who are familiar with all the aspects of this project.

So who caused this mess? How could it have been avoided?
It is easy to look back and criticize Obama and I too do it. I never liked this president and I think he was a puppet of the “deep state” and took his orders from the UN World Government. If you listen closely to his speeches to the UN and the EU they have these tones all over it of social communism. Yes, he always used these same old patriotic words but they are false lies to get you to easily digest and accept his speeches.

Obama did not perform his duties as president with the intent of the US and protecting its long standing constitution, values, fabric of life. Instead he was a socialist and a diehard UN Agenda 21/30 globalist. His job was to radically change society and lay the groundwork for what was to come. This attitude hurt Iraq as they tried to mold Iraq into this ideology too. Obviously, these plans failed and so again, here we are where we are today.

How is this mess left over from the Obama administration going to be resolved for Iraq?
For one the demonstrations and riots did not just happen. These are well orchestrated and planned out by the CIA in conjunction with the religious clerics. What do you think they have been talking about in the mosques on Fridays? So what we are witnessing now is a change over from the Obama policy with Iraq to a president Trump policy. Some may say Trump is little late but not really. You see the Trump administration did try many times since 2016 to get the CBI to complete the currency reform. When these tactics did not work they relied on the 2018 elections and the Sadr anti-corruption movement coalition to stack the government with non-Iranian officials. Just the opposite happened. Sadr really did not have much of choice with since the need a full formed government or his party might lose the power they needed. So now we are down the road still kicking the proverbial can. The elections are over and it only got worst.

So what is the next tactic to try?
If at first you don’t succeed then try, try again. So the tactic this time is to get the citizens educated as to who the real culprits are. No- it’s not the US.

The US with Sadr planned to orchestrate this campaign to educate the citizens and to stir them up. This so far this is working. Change is on its way but will it be enough? Will president Trump inevitably change the Obama policy of first rebuilding the economy and the completing the currency reform?

We already know from the past this is NOT going to work. So, Trump will have to reverse this long-standing Obama policy for the middle east and Iraq.

This is the only way they can support using the dinar for trade between countries and not solely using the US dollar. These four (4) events must line up and occur. We are therefore watching for these events. I don’t know why these idiotic gurus keep watching the banks or “stanches” of money being moved around. Who the hell cares? When the CBI acts in Iraq we will know for sure what is going on and that they are moving ahead.

Some say the CBI is still moving ahead with the “project to delete the zeros”. I agree but right now at a snail’s pace. They are waiting for the demonstrators to settle down. Even then I am told by my CBI contact that nothing is going to happen until at least the new 2020 budget is opened. It contains the HCL money something the citizens are demanding.

Oh! Wait a second – didn’t the 2018 budget also contain the HCL money? Yes, it did but this money was wasted away on corruption so it is now gone. Can’ spend what you don’t have. This is part of the problem. Don’t you see? The budget is simply being wasted on CORRUPTION each year and nothing is getting done to drastically improved the peoples lives. Hello anybody home? Who is monitoring the budget for full accountability and transparency? Did they let the wolf inside the hen house to watch over the hens?

This is why the citizens are now out on the streets rioting…. Go figure! This is also going to come to the US? I think that if something is not done soon to prosecute these corrupt past politicians, especially from the Obama and Bush administrations, the US may have an Arab Spring on its hands too.

More news….

PARLIAMENTARY INTEGRITY COMMITTEE TO OPEN AN INVESTIGATION OF CURRENCY AUCTIONS

A member of the Parliamentary Integrity Committee high Nassif, on Thursday, the committee's move to open an investigation auction currency, indicating that there are a lot of personalities involved in this area will be referred to the judicial authorities. Full article in todays article section.

More news….

Friday's demonstrations occurred in different parts of Iraq. Protesters began to arrive on Thursday evening to Tahrir Square in central Baghdad.

Iraqi security and medical officials announced on Thursday that three people were killed and 24 wounded in renewed clashes in central Baghdad between demonstrators and security forces, bringing the death toll to seven, according to the Associated Press, while the government denied any deaths in the protests.

Two protesters were killed when they were hit by tear gas and another with live ammunition. The clashes took place on the street near Jisr al-Ahrar, officials said.

More news….

JUDICIAL COUNCIL LAUNCHED A VOTE TO LIFT THE IMMUNITY OF DEPUTIES ACCUSED OF CORRUPTION CASES

The Supreme Judicial Council on Thursday ordered the arrest of large heads accused of corruption and exceptional travel bans.

A statement of the Council received a copy of the Iraqi News Agency (conscious), that “the Council launched a vote to lift the immunity of deputies accused of corruption cases,” stressing “take legal action against them.”

More news….

BARZANI CALLS FOR GIVING THE GOVERNMENT OF ABDUL-MAHDI A CHANCE TO ACHIEVE REFORMS: (THEY) DO NOT BEAR THE FULL GUILT

Baghdad Today – Baghdad: The head of the Kurdistan Regional Government, Masrour Barzani, on Wednesday (November 20, 2019), to give the government of Prime Minister Adel Abdul Mahdi, an opportunity to achieve the necessary reforms for the Iraqi people, noting that they do not bear all the guilt alone, because what happens as a result of the accumulations of previous years.

More news….

THE ARRIVAL OF THE STATE BUDGET FOR 2020 TO THE HOUSE OF REPRESENTATIVES
The Finance Committee of the House of Representatives favored the arrival of the state budget for 2020 to the House of Representatives this week or next, and the committee indicated that the next budget will differ significantly from the previous budgets and will come in line with the demands of demonstrators and citizens.
Just in late Monday 11/25….
Finance Minister Fouad Hussein said on Monday he hoped to complete the draft budget law next week for approval in the cabinet.

Hussein said in a tweet on Twitter, that "an expanded meeting (held) today to the Economic Ministerial Council in the presence of the delegation of Kurdistan to discuss the details of the completion of the draft budget law 2020 discussions frank and fruitful."

The finance minister added in his tweet: "We hope to complete the draft budget law next week for approval in the Federal Council of Ministers."

(Mnt Goat – note this is saying Council of ministers [cabinet] vote not parliament. It still needs to go to parliament and then have two readings, discussions and a vote before it can become law. So, it may take weeks if not months…hope not due to demonstrators. These articles are always may too optimistic in their timing.)

More news….

WHERE IS SABA? A SAD STORY, BUT TYPICAL OF HOW IRAN WORKS

As Saba al-Mahdawi left Baghdad’s Tahrir Square after a long day of helping protesters on the frontlines, the teargas started to take its toll. Choking, she was brought back to her friend’s tent. They told her to go home – she had done enough for the day.

But she never made it. Just a few hours later, she was kidnapped by unknown men as she got into her car. For two weeks her face circulated on social media and the hashtag: “Where is Saba?” went viral.
“Saba became a symbol of the brave women and of the conscious young people,” Mohamed Fadhel, a civil activist and friend of Mahdawi’s, tells The Independent.

“The kidnappings, tortures, and deaths that are intended to scare us will do nothing except increase our presence here until we finish with this failed and corrupt government.”
Mahdawi was released earlier this month, but her experience has left an indelible mark on the square as she has become a symbol of the rising presence of female protesters in Iraq’s streets: threatened, facing great personal risk, but determined all the same.

More news….

TAHRIR SQUARE WITNESSED, ON SUNDAY MORNING, A LARGE TURNOUT

It’s now Sunday Nov 24th and protesters continued to flock to Tahrir Square in central Baghdad on Sunday, as the sit-in continues in the square for the 30th day in a row to demand the dismissal of the government, the identity of the killers of the demonstrators, their trial and early parliamentary elections under international supervision.

A source told "Eye of Iraq News", that Tahrir Square witnessed, on Sunday morning, a large turnout in the number of demonstrators, especially students who announced the continuation of civil disobedience for the current week.

Total of darkened tents were present in Tahrir Square in central Baghdad, after power was cut off on Sunday evening. Eyewitnesses said in press statements seen by [where] that “darkness now hangs over Tahrir Square after cutting off electricity without knowing the reasons for the interruption.”

Since Friday, October 25, Baghdad and nine other provinces have witnessed large-scale protests calling for the dismissal of the government, bringing the killers of the demonstrators to justice and holding early elections under international supervision. Protesters suffered.

More news….

Just in late Monday 11/25….

IRAQI GOVERNMENT REVEALED THE OPENING OF THE FIRST CHANNEL OF COMMUNICATION WITH DEMONSTRATORS AND SUPPORTIVE EVENTS

Government spokesman Saad al-Hadithi said in a press statement on Monday evening, "We have channels of communication between government institutions and important events have contact with the demonstrations or supportive of them and this is happening for the first time."

"There are many serious measures in implementing reforms at the legislative level, fighting corruption and fighting it and responding to the demands of the demonstrators, and we are doing our best in that," he said.
Al-Hadithi added, "It is also the first time that there is talk of a constitutional amendment, breaking the traditional mold in the al-Istazar, and conceding the political blocs to the ministries and giving the prime minister the right to amend that may reach half the cabinet."

"The change of the political system is through constitutional and legal mechanisms," he said.

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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.
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Articles Begin

PARLIAMENTARY INTEGRITY TO OPEN AN INVESTIGATION OF CURRENCY AUCTION CORRUPTION

A member of the Parliamentary Integrity Committee high Nassif, on Thursday, the committee's move to open an investigation auction currency, indicating that there are a lot of personalities involved in this area will be referred to the judicial authorities.

Nassif said in a statement to the information, that "the Parliamentary Integrity Committee, especially after the completion of a law from where you get this, it is heading towards opening the currency auction in the Central Bank."

She added that "the Chairman of the Committee will form a team of members of the House of Representatives in order to open an investigation auction currency, in addition to the Office of Financial Supervision expressed cooperation with the Commission on Integrity and confirmed that there are files ready on the auction of currency."

She pointed out that “next Saturday will be the formation of the said team to investigate the auction of the currency, and refer those involved to the judiciary, where there are indications of some people who did not have property before 2003, while you find owners of banks and large property, and therefore the law from where you will apply this on them".
She stressed that "the Commission on Parliamentary Integrity owns the names of banks and personalities involved in corruption of currency auction, where there are many of them used the period after 2014 to increase its funds."

(Mnt Goat – What? Open an investigation of the currency auctions? We have heard about this corruption now for years and years. Are they just talk again or are they actually going to do something about it this time? Can you see why the demonstrators are so fed up with the “do nothing” government. Yes, we as investors watching this situation can see it too. We aught to put all our dinars back in boxes, ship it back to the CBI and demand our investment money back. Just kidding….but don’t you also get fed up with this country?)

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

THE CENTRAL BANK WITHDRAWS TWO COMPANIES’ LEAVE IN THE MIDST OF BUYING AND SELLING CURRENCIES

The Central Bank of Iraq, on Thursday, on the withdrawal of two companies brokerage license to sell and buy foreign currency for violating instructions.

The bank said in a statement that “in view of the violation of the splendor of the spring and the ocean to broker the sale and purchase of foreign currencies to the provisions of the regulations governing the work of mediation companies and the fight against money laundering and financing of terrorism, it was decided to withdraw the license to establish the two companies.”

“It was also decided to confiscate the letter of guarantee of the Ocean Company issued by the South Islamic Bank for Investment and Finance, which amounted to 50 million dinars in favor of the bank, as well as the confiscation of insurance deposits deposited with this bank, which amounted to 50 million dinars in his favor,” it said.

The bank demanded “the Ministry of Commerce to cancel the founding certificate granted to them by him, in addition to delisting their name from their records and provide the Central Bank with a letter of liquidation certified.”

(Mnt Goat – the CBI will have to do a hell of a lot more than this to satisfy the demands of the demonstrators…. )

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

THOSE INVOLVED IN THE FILES OF CORRUPTION ROUNDS OF OIL LICENSES AND CURRENCY AUCTION LINKED TO POLITICAL CONFRONTATIONS

The Commission on the Integrity of Parliament, Friday, November 22, 2019, that most of those involved in the files of corruption rounds of oil licenses and currency auction linked to political confrontations, pointing out that the parliament has a competent committee in this file and .will provide evidence to the judiciary to do its part.

A committee member Alia Nassif said in a statement to local media, that "there is a committee within the House of Representatives on the rounds of oil licenses, where the Integrity Committee to legislate laws to recover the smuggled funds and integrity and where to get this, in order to build a legislative " .base to help to open files Corruption and accountability.

She added, "The Parliamentary Integrity Committee has formed committees on the North Oil Company, which includes the companies Carr and Kewan ".and licensing rounds of oil It showed that "most of those involved rounds of licensing and corruption of oil companies and auction linked to currency - party political fronts, it is certain that the Integrity Committee will be close to these interfaces, especially the street power of the mass and the pressure will be a catalyst to bring ".a lot of files to the judicial authorities.

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PARLIAMENT TO VOTE ON 7 LAWS RELATED TO THE DEMANDS OF THE PROTESTERS

2019/11/22

Baghdad / Obelisk: The House of Representatives intends to vote on 7 laws related to the demands of the protesters, including with regard to health insurance, slums, retirement and others.

Abbas al-Atafi, a member of the Coalition for Change, said Friday that the parliament will vote in the next few sessions on a wide range of laws.
He attributed the recent parliamentary activity to the mass movement taking place in the country, TO PROVIDE IMPORTANT LAWS AND REFORM EXPECTED BY THE CITIZEN.

Al-Atafi said, “There is a strong movement within the House of Representatives to legislate laws of social security and health and retirement and the Federal Court and housing and the abolition of slums and the Construction and Service Council.”

He continued, “The next sessions will witness the legislation of important laws aspired by the citizen and achieve the demands of the demonstrators, as most of the laws mentioned have been worked on and there is only a vote.”

He pointed out that “the coming period is abundant legal legislation, in conjunction with the demands of the demonstrators and the public pressure at the moment, which prompted parliament and the government to intensify their efforts TO ADVANCE THE REFORM LAWS.

(Mnt Goat – Most of these laws are already in place. What the hell do they need to legislate? So, this news alone today is telling me this is all a bunch of bullshit and a sham once again. All they need to do is just implement these laws already passed. This is why the citizens are protesting. They don’t want more legislation they want ACTION! These idiot politicians just don’t get it. Yes they do need election reform and to amend their 2005 constitution but this is no excuse for all the other laws just sitting there and nothing is happening.)

IRAQ: THE BREADTH OF DEMONSTRATIONS AND THE DEATH TOLL WORRIES THE INTERNATIONAL COMMUNITY

"The government must remedy things before it's too late." A position issued by the Shiite authority in Najaf, just four days after the outbreak of protests, which killed more than 320 people and wounded about 15 thousand others.

Many of the demonstrators felt at the time that this position was not up to the level of the event and does not meet their ambitions to make comprehensive changes to the political system that has ruled Iraq for about 16 years.

But little by little, as the confrontation between protesters and Iraqi security forces escalated, the tone of Iraq's top Shiite cleric, Grand Ayatollah Ali al-Sistani, rose to a climax last Friday when he said Iraq "will not be beyond these protests as before."

The writer and political analyst Sarmad al-Taie that "many Iraqis, not just the Marja dealt with coolness of the demonstrations at the beginning of the launch and considered it normal and similar to the ones that happened in the past."

"The position of the Marjaiya has changed a lot after the sudden and unprecedented repression suffered by the young protesters by the armed factions, in addition to the Iranian interference is clear and direct in the file of the protests," al-Taie told Al Hurra.

During the first wave of protests, which lasted from 1 to 6 October, more than 150 people were killed and 6,000 injured as Iraqi security forces used live bullets and tear gas to disperse the crowd.

The period was also marked by the presence of snipers on the roofs of buildings targeting protesters, but their identity remains unknown to the Authority, while media reports confirm that they belong to militias linked to Iran.

The Supreme Shiite religious authority in Iraq held the government and security services responsible for the killing and non-protection of the protesters, and spoke of the presence of "armed elements outside the law, under the eyes of the security forces, targeting and protesting the demonstrators, and assaulting certain media in order to intimidate the workers."

Al-Ta'e asserts that this reference point was a turning point because it pressured the Iraqi government and forced it to investigate these incidents.
"Its successive stances in support of the protests have given greater impetus and resolved the position of many Iraqis who have a reluctant stance on the demonstrations," Taie said.

These protests are unprecedented in Iraq, because they are spontaneous and did not emerge at the invitation of a religious or political leader as was the case in the past.

Most of those who took part in the Tishrin Revolution, as protesters like to call it, are young people between the ages of 16 and 40. Demonstrators across Iraq are demanding the resignation of the government, the enactment of a new constitution and the change of the ruling political class in this country, which ranks 12th among the most corrupt countries in the world.

The PROTESTERS' ANGER OVER THE PAST FEW DAYS HAS INTENSIFIED OVER IRAN, which has great influence in Iraq, following repeated visits by the Quds Force commander in the Iranian Revolutionary Guards Brigadier General Qasem Soleimani to Iraq, and statements by Supreme Leader Ali Khamenei, who tried to "demonize the protests" in Iraq and Lebanon.

Some protesters are still critical of Najaf's religious stand on the protests because it has not explicitly called for the overthrow of the government or a religious edict banning the killing of protesters. But the writer and analyst Sarmad al-Taie disagrees with this view and stresses that "the reference has sent several messages to the protesters in several ways telling them that you are the basis and we are following you and our job protect you and help and support you.

"This is a major development calculated for the reference, because it wants to help the public to increase self-confidence and to act and think and make decisions without waiting for the opinion of others." "There is a sense in the Marjaiya that society has evolved and it has become difficult for anyone to lead, and everyone has to adapt to a new moment that confirms the maturity of society more than in the past."


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IRAQ DINAR IS SHORT-TERM DISAPPOINTMENT, LONG-TERM BET (please note date of article. This is from 2012. In Jan 2013 the CBI had plans to reinstate the dinar. I have added my commentary throughout the article. It is very interesting to read what they were saying about the value of the dinar in 2012 and since it is now 2019 and we can clearly see now something “very fishy” is still going on with the dinar and it is being grossly suppressed and stiffened from it’s true nominal value. I encourage everyone to take some time to read this carefully to get an honest perspective of just where the dinar is [or should be] today)

October 3, 2012
MIDEAST MONEY
By Aseel Kami

BAGHDAD, Oct 3 (Reuters) – Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions.

The logic of the dinar bulls is simple. Iraq’s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 MILLION BPD BY 2017, WHICH WOULD PUT IT CLOSE TO SAUDI ARABIA’S CURRENT LEVEL.

Even if unstable politics, militant violence and bureaucratic inefficiency prevent that target from being hit, Iraq still seems to be on the threshold of an OIL BOOM THAT WILL TRANSFORM ITS FINANCES.

Inflows of new oil revenue could give the country big external surpluses and push state finances deep into the black by late this decade – THE CLASSIC RECIPE FOR A STRONG CURRENCY.

“As far as our investors are concerned, when they buy Iraqi dinars they do know it is a long-term investment. You know it takes time for a country to rebuild itself,” said Hassnain Ali Agha, president of Dinar Trade, a U.S. dealer of exotic currencies.

Because the DINAR IS NOT FREELY TRADED BY BANKS OUTSIDE IRAQ, online dealers of banknotes such as Dinar Trade are the only way that most foreigners can invest in the currency. The Las Vegas-based company says it sells as much as hundreds of thousands of dollars worth of dinars daily, shipping dinar notes to thousands of customers in the United States and elsewhere.
Agha said that because of optimism about Iraq’s oil wealth, there had been solid demand for dinars since his company was founded in 2004, a year after the U.S. invasion which triggered years of political violence and economic turmoil.

Back in Baghdad, however, Iraqis themselves are not convinced. Many take what opportunities they have to change their dinars into hard currency, and conduct all but small day-to-day transactions in U.S. dollars.
“We have no trust in the Iraqi dinar – we feel afraid to save it. We trust the dollar more. The dollar does not go up and down, it is fixed,” said housewife and mother-of-two Eman Saadeldine.

WILD SWINGS
The dinar has endured wild swings over the past three decades. In the 1980S, ONE DINAR BOUGHT AROUND $3, but economic sanctions imposed on Iraq around the time of the 1991 Gulf War sent the currency into decline and stoked inflation, which the government fuelled by printing money. By late 1995, $1 bought as much as 3,000 dinars. After the 2003 invasion, the central bank intervened in the currency market to strengthen the dinar, using its supplies of dollars to manage the exchange rate.

But over the last several years, even as Iraq’s oil production has expanded, there has been none of the appreciation for which speculators have been hoping. The central bank now sells dollars in daily auctions at a fixed price of 1,166 dinars, A LEVEL BARELY CHANGED SINCE 2009.

In fact, the dinar has recently faced downward pressure as a result of the international economic sanctions imposed on neighboring Iran and Syria. Iraqi traders rushed to buy dollars to sell on illicitly to residents and businesses in those countries, which are hungry for hard currency.
The dinar fell as low as 1,280 in the open market this year before Iraqi authorities reacted by allowing two state-run banks and some private lenders to sell dollars, helping push the exchange rate back to around 1,200 currently.

Another factor counting against the dinar is the fact that the largest banknote is only 25,000 dinars. This often makes the currency unattractive to use in an economy where the banking system is primitive and deals are often done in cash.

Saadeldine recalls paying in cash for a new house in 2009.
“If our money had been in dinars, it would have been impossible for us to carry it. It was in dollars and we carried it in a small suitcase,” she said.
THE CENTRAL BANK HAS BEEN CONSIDERING PLANS TO KNOCK THREE ZEROS OFF THE NOMINAL VALUE OF BANKNOTES TO SIMPLIFY FINANCIAL TRANSACTIONS. THIS WOULD NOT IN ITSELF INCREASE THE REAL VALUE OF THE DINAR, SINCE PRICES WOULD ADJUST IN LINE with the redenomination, but economic experts say it could improve confidence in the dinar and THUS BOOST ITS VALUE EVENTUALLY.
(Mnt Goat – what he is saying is that the prices would simply nock off 3 zeros too, thus the real price 25,000 dinars is then 25 dinars. Both would have the same value 25 US dollars. So if this happens then what is our dinar worth outside the country? Still worth the same amount as now UNLESS they also “reinstate’ the dinar. This is the key. It was the key back in 2012 and still is the key to making any big money off our investment. )

“It would increase trust in the dinar even THOUGH ITS VALUE WOULD NOT CHANGE,” said Baghdad-based economist Majid al-Souri. “Indirectly, when trust increases there will be appreciation.”

(Mnt Goat – misses the point here. The VALUE of the dinar is suppressed as the 1166 back in 2012 and now 1190 in 2019 does not reflect its TRUE VALUE. This is the problem here. If oil exports increased to 2.6 million barrels by September 2012 and then we know it more than doubles now by 2017 and the rate of the dinar was over $3.00 before the first sanctions in 1991, they why in hell is the rate still 1/8 of a penny? The why has the CBI repeatedly been telling us they will “raise the value of the dinar to its prior glory in the coming days”? Do you see something VERY fishy going on here? This article does not add up.)

Earlier this year, however, the cabinet decided to suspend the technically complex redenomination plan until further notice, saying the economic climate was not suitable.

(Mnt Goat – this last paragraph is a total contradiction. Do they even know what the hell they are talking about? In a previous statement they say a redenomination would not change the value and prices would adjust to the same when deleting the zeros. Now in this paragraph they are telling us they need an economic climate that is suitable. Why would they need a more suitable economic climate if the value and prices are not really effected? You see the lies. They are not being honest with us.)

The biggest obstacle to dinar appreciation is the fact that for now at least, Iraqi authorities appear content with the exchange rate in its current range.
In a memorandum to the International Monetary Fund on economic and financial policies for 2011, written in March that year, the Iraqi government said it saw benefits in keeping the dinar stable.

(Mnt Goat – this ties directly to the corruption with the currency auctions. This is what they are really referring to. They want to continue the auctions because billions can be made in the buying and selling of the US dollars. Remember they are NOT selling and buying dinars, the auctions is all about taking the US dollars out of the CBI reserves and trading them for dinars. The US dollars are then supposed to be used solely for trading for imports to bring in needed foods and goods to Iraq. Apparently these auctions and grown we beyond their original intent and like a baby sucking on its mother’s tit is hard to get off it. But it has to happen if you are going to have any REAL GROWTH in this country. They can’t keep this up much longer. )

“We believe that the policy of maintaining a stable exchange rate continues to be appropriate, as it provides a solid anchor for the public’s expectations in an otherwise uncertain environment and in an economy with a still very low level of financial intermediation,” it said.

LONG TERM
In the long term, however, Iraq’s finances and economy may improve so dramatically that AUTHORITIES FEEL COMFORTABLE ALLOWING THE DINAR TO APPRECIATE UNDER THE PRESSURE OF FLOWS OF OIL MONEY into the country.

(Mtn Goat – Article is 7 years ago from 2012 it is now 2019 and this has already occurred only the Iranian corruption is still holding it back. Iraq has now doubled the oil production from the time this article was written. No one is going to tell me this is not the time to all the dinar to greatly appreciate.)

The IMF expects this year’s estimated budget surplus of just 0.2 percent of gross domestic product to balloon to 12.1 percent in 2017. The country’s balance of trade in goods and services, in deficit as recently as 2010, is projected over the next five years to shift to a large surplus of 11.3 percent of GDP.

Deputy central bank governor Mudher Kasim told Reuters that HE EXPECTED REDENOMINATION OF THE DINAR TO GO AHEAD IN 2014 or later, by which time the amount of Iraqi currency in circulation would have increased significantly, making financial dealings in cash even harder.

IN THE LONG TERM, THE CENTRAL BANK AIMS TO MAKE 1 DINAR EQUAL TO $1 with a combination of redenomination and appreciation, ALTHOUGH THAT WILL TAKE OVER THREE YEARS BECAUSE OF INSTABILITY in the Middle East, Kasim said: “If not for the regional circumstances, we would proceed faster with that plan.”

(Mnt Goat – okay its way over 3 years already. In fact it is more than double that more like 7 years already to this prediction. So where in hell is the RV?)

Some analysts think the appreciation could go further. Kamal al-Basri, research director at the Iraqi Institute for Economic Reforms, an independent research body in Baghdad, said he expected the dinar to stay stable for the next three years, but that afterwards it might strengthen beyond parity against the dollar, including the effect of redenomination.
For that to happen, Iraqi politics will have to stabilize, skill and education levels rise and the economy diversify so that it is not so heavily dependent on oil exports, he said.

Speaking at the Baghdad currency exchange shop that he owns, Ahmed Abdul-Ridha said the dinar’s stability in the past three years was good, but it did not indicate the long-term trend.

“We wish the dinar’s value would go back to what it was like before, when it used to equal $3 in the 1970s and even in the 1980s,” he said.

“I expect that day will come. Why not? What we are going through is an abnormal condition…We are an oil country.”
Our Standards: The Thomson Reuters Trust Principles

(Mnt Goat – It’s 2019 and the dinar is still NOT freely traded by banks outside IRAQ. It has been over 3 years already [more like 7 years] and still no RV. Is it time for this to happen. I ask you. So relax. I feel these demonstrations may be the key to forcing this change finally to happen. It is not a matter of having the value to support $1.00 or even $3.00. It is instead a matter of ending the corruption and getting the political will to just do it.)

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

MAHDI AND HIS SUPPORT FOR GE'S PROJECTS IN THE ELECTRICITY SECTOR

Prime Minister Adel Abdul-Mahdi received the CEO of GE for renewable energy GE Renewables Jerome Pekris and his accompanying delegation.

The Prime Minister affirmed his support for GE's projects in the electricity sector, including the transport networks project, which the Iraqi government intends to accelerate this year, which includes the construction and rehabilitation of 23 secondary stations capacity of 400/132 and 132/33 and mobile stations, and provide more than 3000 jobs in Projects of secondary stations and transportation networks throughout Iraq, contributing to the dismantling of bottlenecks and supporting the network to improve the delivery of electricity to more than four million homes throughout Iraq, as well as pumping considerable resources into the local economy through secondary contracts for implementation.

The CEO of GE Renewable Energy, Jerome Pickries, expressed the company's intention to establish the GE Network Academy in cooperation with the Ministry of Electricity and the Ministry of Higher Education, which will train and graduate many students and engineers and prepare them for integration into the labor market.

(Mnt Goat – Why did it take riots to get this electricity up and running. We heard about this years ago. What happened to this project? Where did it ever go? Why was it stopped? Where did all the money go that was allocated for it in the 2017 and then again in the 2018 budget? )

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

THE CENTRAL BANK CONTINUES TO SELL THROUGH THE AUCTION – HOW THE AUCTIONS WORK

The Central Bank continues to sell through the auction, which is being conducted daily for a number of private banks, despite the recognition of the government and parliament that there is a large corruption in the currency auction.

The economist Abdul Rahman al-Mashhadani said in an interview followed by obelisk, that "15% of the bank's sales through the auction go as money laundering," noting that "the parliamentary financial and economic committee talked about this and all government agencies were unable to stop the auction " .and continued to drain the hard currency because of its association with great political figures.

Mashhadani adds that "the real import rate for the private sector is 35 billion dollars annually, but what the bank sells during the year through the auction is 50 billion dollars," noting that "corruption has become clear even in the regulators, but the power and influence of influential people in banking institutions is "."It is greater than accounting, and it continues in spite of its codification in previous years The dollar escapes with nothing.

(Mnt Goat – so the CBI knows they need 35 billion annually to run the country but 50 billion is taken out of the CBI reserves. Remember that the oil revenues is all paid in US dollars. It then is put into the CBI reserves. The CBI then pays out what it needed to cover the ministries, as stated in the budget. The leftover money is how the CBI reserves grow. So if 15 billion dollars is being pulled out the CBI each year (50-35 = 15) then this money is not staying in the CBI reserves, thus helping the reserves to grow. In fact this money is disappearing and not going to any benefit to help Iraq. They are simply siphoning off the riches of Iraq right in front of the people’s nose. Folks – this is a lot of money that could be used to rebuild churches, schools and get electricity up and running. It could also be used for loans and grants. Oh – did I say also pay the HCL money to the people? Do you see the corruption now and how it is holding back Iraq? 15 billion is a lot of money! )

Economist Dorgham Mohammed Ali said in an interview followed obelisk, "The auction, which was established in 2004 was created with the aim of not obtaining a monopoly of the dollar on the one hand and to buy the Iraqi dinar to cover the budget and prevent inflation on the other hand and was a tool to control the exchange rate, but the value difference between the sale of cash and remittances "It was a profit margin for the banks involved in the auction and ".a limited number of companies, which led to the smuggling of large amounts of dollars.

THE ESTABLISHMENT OF BANKS WITHOUT AUDITING The economist Mohammed al-Hasnawi said in an interview, that "the are banks, especially Islamic ones have been opened and granted licenses without any scrutiny of their potential and financial capacity, revealing the existence of banks opened by employees working in the bank or participants. He added that these banks DO NOT DO ANY CREDIT WORK, but only their work in the auction of currency and transfer of foreign currency through the laundering of money, calling on the Central Bank and the regulatory authorities to scrutinize how these banks get the founding license.

The money that was WASTED IN THE CURRENCY AUCTION OVER THE PREVIOUS YEARS IS EQUIVALENT TO THE ENTIRE BUDGETS OF SOME COUNTRIES and enough to operate a large number" of stalled factories and eliminate the largest percentage of unemployment in the country," said MP Ali al-Badiri, in an interview with the obelisk. The parties dominate the decision and have control over some media outlets that prevent the shedding of this dangerous dossier.

THE CENTRAL BANK OF IRAQ SELLS THE DOLLAR to private banks and financial transfer companies THROUGH THE AUCTION, which is conducted daily and the amount of $ 150 million, which these figures rise or fall as requested by these banks, which in one way or another affect the reserve of the Central Bank of Iraq, which .was significantly affected recently.

As a result of non-symmetry between what he gets from the dollar and between the sale through auction.

(Mnt Goat – so please let us all get on the same page. The currency auctions are taking in (buying) dinar and giving back (selling) US dollars. Our dinars do not come from the currency auctions but from dealers who are selling this to the these online currency brokerage companies. This amount of our dinar is so minimal in comparison the total amount in circulation.)

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) and now the corruption in Iraq have worked. God has guided these young men and women on the battle field. He has guided the honest, patriots of Iraq to fight for their homeland. So this new war now on our citizens is underway. New battles are raging every day over corruption. These are battles to save our societies 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 also in the United States. We must pray for our leaders that they may be anointed by the Holy Spirit and guided to do God’s work. 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 and work to bring about abundance and prosperity to their nation.

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

To bring all those corrupt to justice and pay for their crimes no matter how high up in the government they are.

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
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