Mountain Goat 12/26/18

by **Mountain Goatee** Thu Dec 27, 2018 9:44 am

December 26, 2018 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

UPDATE ON THE ONGOING ELECTION SAGA

BAGHDAD (Reuters) - Iraq’s parliament approved on Monday two more ministers in Prime Minister Adel Abdul Mahdi’s cabinet but political divisions blocked his attempts to form a complete government as the defense, interior, and justice portfolios remain empty.

Intensifying disagreements between the rival Islah and Bina blocs, led by populist Shi’ite cleric Moqtada al-Sadr and Iran-backed militia leader Hadi al-Amiri, have prevented the formation of a full government of 22 ministers.

Lawmakers were scheduled to vote on the final five remaining empty posts but managed only to approve Shaima Khalil as education minister and Nawfal Moussa as migration minister before the session descended into chaos.

More news….

IRAQ IS ON ITS WAY TO RISE, AND THAT BAGHDAD WILL RETURN BRIGHT AND STABLE AND THE CAPITAL OF PEACE

Baghdad today - Baghdad The President of the Republic Barham Salih said on Wednesday that the opening of the Baghdad Tower is a message to his family and all his citizens that Iraq is on its way to rise, .and that Baghdad will return bright and stable and the capital of peace.

This achievement may be modest in other countries and cities, but in the context of" Baghdad's invasion of terrorists, war and siege, and more than 15 years after the closure and reconstruction of this tower," Saleh said in a speech during his inauguration of Baghdad " .Tower amid an official ceremony.

And opening it to citizens The opening of the Green Zone and the removal of concrete barriers point to a new phase" of interest in Baghdad and the restoration of normal life," he said.

The President commended the "great efforts exerted by the Ministry of Communications to rebuild and open the tower, after being severely damaged by the war and the conditions of "violence faced by the country.

More news….

GIANTS USA AND NOW CHINA, WANT A PIECE OF THE IRAQI MARKETS

Baghdad Chamber of Commerce and the Chinese Embassy on Wednesday discussed means of joint cooperation and upgrading the trade and expansion of its activities, especially that Iraq is an important link between the east and west of the world , while representatives of the two countries pointed to the importance of activating JOINT INDUSTRIALIZATION BETWEEN IRAQ AND CHINA AND THE ESTABLISHMENT OF A CHINESE MARKET IN THE CAPITAL BAGHDAD.

"The economic cooperation between the two countries is great, and we aspire to expand Chinese investment activity within the Iraqi labor market," Jafar al-Hamdani, head of the Baghdad Chamber of Commerce, said in a statement.

More news….

PRESIDENT TRUMP MAKES CHRISTMAS VISIT TO TROOPS IN IRAQ

(Mnt Goat – So this really happened. It has NOTHING to do with the reinstatement of the currency. So please stop all this nonsense. What we really want to see is an “official” visit with all the honors of a visiting dignitary to Iraq where he and the first lady are invited to the palaces and are given pomp and state dinner. This is will be a first for Iraq and will show us all Iraq is now finally in the right direction. But will they do this with Maliki and his goons running around? Will they want a terrorist attack while he is visiting?)

Please also see my Video Pick of the Week. Here is the link:

=created_time_descending&__xts__[0]=68.ARDkRGIewt0oXU0BRJVE7Pk9YkcyAQID7S4v76eND-Fy7siD-wWMO_L5Gzo_EsHSJnYAthumSsEYXl6HR4fHXdKg4BfLlBpwTtgWCKIbS0LHOWY795wOACUGHqeoENH1zw5xDmUpl40zYcXj8MerUcgwY-7oxX8Bo2e0fpAb3xI1q51NL0R27oe7vyQJbrV9rCihU40V7lv5eSfSZ7Owt2UyKq3jaLAffqHajVE9tx6eDNavLGLlNCa7oScaiqHEVYZRaBF0gTUAs3LXzU2WEbGZaYX2U0vPXuTI8_4XggT4P-9F_69MSquIToAQA83_dy0NmtyXLI8U-nYv5HaOV24&__tn__=-UK-R]https://www.facebook.com/Latest-Mnt-Goat-News-Letter-28…/…/…

However, this even marks an excellent sign to us that the country is getting safer and the Trump, unlike Obama, is concerned about Iraq and the potential for Iraq to help American businesses. But a “state” visit was NOT the purpose of this trip for Trump. He promised to return when the government is “fully” formed. Wow! This simply was a visit to the armed forces base in Anbar, where the 5,000+ troops were re-stationed out of Syria. I hate to disappoint everyone but these troops where moved there over a month before you heard it on the news.

Iraqi Prime Minister Adel Abdul-Mahdi on Wednesday accepted an invitation from US President Donald Trump to visit the White House on the eve of New Year's Day. Earlier, Reuters reported that Trump had invited Iraqi Prime Minister Adel Abdul Mahdi to visit the White House on New Year's Eve. So this invite is the start of a hopeful relationship between the two leaders. Trump needs to feel out Mahdi and see what kind of leader and politician he is. Trump will not deal with another dictator, but I don’t think we have to worry about that with Mahdi. You see…it is all coming together nicely. Just be patient.

President Trump touched down Wednesday in Iraq in his first visit to a conflict zone as commander in chief, a week after announcing a victory over the Islamic State that his own Pentagon and State Department days earlier

The president’s visit to Al Asad Air Base west of Baghdad, which was SHROUDED IN SECRECY, follows months of public pressure for him to spend time with troops deployed to conflicts in the Middle East and punctuates the biggest week of turmoil the Pentagon has faced during his presidency.

Speaking to reporters as he visited troops in Iraq, Trump defended his controversial decision last week to withdraw U.S. troops from Syria — an action that led Defense Secretary Jim Mattis to resign.

“I think a lot of people are going to come around to my way of thinking,” Trump said, according to Reuters. “It’s time for us to start using our head.”

White House press secretary Sarah Sanders tweeted A PHOTOGRAPH OF TRUMP AND FIRST LADY MELANIA TRUMP POSING FOR PHOTOGRAPHS WITH SMILING TROOPS.

“President Trump and the First Lady traveled to Iraq late on Christmas night to visit with our troops and Senior Military leadership to thank them for their service, their success, and their sacrifice and to wish them a Merry Christmas,” Sanders wrote.

(Mnt Goat – be ready for the CNN FAKE news media to put their own negative spin on this visit to bash Trump. Of course, they will not bother to ask why he did what he did first and then tell the TRUTH. Wait and see what kind of spin they put on it. By the way - The US ambassador in Baghdad told the Iraqi side of the visit of US President Donald Trump .(to Iraq, according to Reuters news agency on Wednesday evening (December 26, 2018 The US ambassador to Iraq, Douglas Silliaman, met Iraqi Foreign Minister Mohammad Ali al-Hakim and informed him of the visit by the US president before it was held, Reuters reported ". She added, according to sources, that "the visit was not actually surprising to the Iraq government but was asked to be kept quiet. Trump did say he fully intended someday soon to return for an “official state visit” but only when Iraq was ready. This is the full and truthful story of what happened. So please don’t listen to all the garbage info that may follow from the US news media spin.)

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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

IRAQI CENTRAL BANK: UPDATE

(Mnt Goat – a long article but well worth the time to read it. It is very informative of the ongoing situation with the CBI. But I warn everyone not to get caught up in the detail. You need to see the forest through the trees. OK? )

BAGHDAD (Reuters) – Talks with the United States on additional exemptions from Iran’s sanctions.

In an interview with “The New Arab”, Muhsin al-Alaq, Acting Governor of the Central Bank of Iraq , talks about a difficult monetary and financial stage that has passed through his country, with the security situation deteriorating and oil revenues falling , as well as the repercussions of sanctions on Iran.

And to the text of the dialogue:

What has been achieved by the Central Bank of Iraq after the stability of the security situation in the country during the recent period?

We have passed an important and dangerous stage at the security and financial level in previous years, and the central bank has accompanied the difficult stage in fighting of another kind, represented by trying to maintain economic, financial and monetary stability.

The legacy of the past years of destruction, destruction and decline in services and infrastructure has led us to think about strengthening the development orientation of our work. Of course, the Central Bank of Iraq has a role in this matter, considering that the banking sector can mobilize the resources necessary to develop the development process, in addition to the initiatives carried out by the Central.

From here we launched financing initiatives amounting to $ 6 billion in the industrial, agricultural and housing sectors, which are perhaps the largest in the history of Iraq.

I mentioned earlier that during the fall in oil prices oil revenues fell 70%, what did the Central Bank in the light of this crisis?

There was a big challenge and a difficult situation, and the Ministry of Finance announced in early 2016 its inability to pay the salaries of employees. Here, we immediately announced that things can be arranged, fearing the collapse of the general situation.

The central bank law allows him to buy treasury funds (a borrowing instrument) belonging to the government, and both the Rafidain and Rashid banks have joined them, so it became indirect financing, and of course there were no options.

In addition, Iraq received some funding from the Bank and the International Monetary Fund, but the amounts were small relative to those provided by the Central Bank, we have put a high interest on remittances equivalent to those in force in the market, so that the Ministry of Finance is keen to pay, We released a portion of the reserves of banks to buy treasury transfers, and these amounts amounted to about 20 trillion dinars within two years, or about 18 billion dollars.

We see the stability of inflation at 2%, while in Iraq there is a decline in purchasing power and a rise in the rates of poverty and unemployment, how to explain this paradox?

On the one hand, there is government spending, which is mostly consumption, so there is a recovery in the commercial sector, but this activity does not generate jobs. In contrast, the productive sector is still lagging behind in this framework, while it is the job-generating field.

Therefore marginal activities are still dominant, leaving large numbers of unemployed, especially among graduates who do not find jobs suited to their specialties. There is also a weakness in investments and projects, which accumulates unemployment rates, so the central bank as the closest sensor to the economy is trying to stimulate productive sectors.

Is the independence of the central bank in any country essential to be able to control the economic indicators, to what extent this condition is available in Iraq? Are we critical of the impact of negative fiscal policies on the monetary sector, while the Central Bank is a financial adviser to the government?

The truth is that there is no direct impact or intervention, but there are indirect effects, and lead to significant implications for monetary policy. In terms of financial policy subject to security and political conditions and changes more than subject to the standards of fiscal discipline that are consistent with monetary policies.

Even the Ministry of Finance, although it takes a lot of pressure into consideration, but the budget prepared by subject again to the political review in the House of Representatives (Parliament) and many of its items, so the nature of expenditure and income and deficit and type of monetary policy.

What about the high levels of corruption linked to the coverage of the central bank funding gaps left behind?

Corruption affects everything, including the economy, investment, the work environment and others. The central bank, which works better when economic and investment performance is sound, is affected. When the administrative and institutional system is effective, it eases pressure on the central bank and makes resource mobilization and movement transparent, clear and geared towards the right goals. Therefore, corruption is certainly a source of threat and impact on the overall economic situation, and therefore on the central bank, which aims to achieve economic stability.

How does the central bank deal with expanding US sanctions on Iran, especially as there are deals that need payments in dollars, specifically in terms of gas and electricity?

As for the central bank, it has a situation of adjustment to the sanctions. The dollar deal with Iran has been suspended since 2012. In practice, such transfers can not be made, since any payments in this currency will continue in the US financial system and will stop. Therefore, Iraq used to pay in currencies Other.

With the expansion of the embargo and the reservations of States, options have become limited even in settling payments in currencies other than the dollar. At the same time, there are essentialities linking Iraq with Iran, including gas and electricity.

Currently, there is an understanding with the US side to try to sort it out or get some exceptions. The talks have gone a long way and this issue may be resolved soon, probably within days.

How does Iraq approach the AML / CFT standards?

This issue is new to Iraq, as a new phenomenon and as a procedure. There have been no private entities involved in this area in the past. Since we assumed the task of managing the Central Bank, we have given great attention to this issue, through the formation of an independent department to combat money laundering and the financing of terrorism and supported by the necessary administrative, financial and even independent capacities.

At the same time, we have been working on a new law, with about 70% of the gaps in this area due to the lack of legislation. Therefore, we focused on this issue and issued the law in 2015, and prepared according to the best international standards in partnership with the relevant international organizations on this file.

Following this law, several measures have been taken in terms of issuing regulations and regulatory and regulatory rules, since this file concerns many sectors. When we started in the gray zone and during this year we came out of the last phase, the continuous follow-up phase, and we are like other countries in the application of international standards.

Is the Central Bank able to control the banks operating in all of Iraq, in terms of money laundering and terrorist financing? Do the banks really adhere to the generalizations of “Central”?

The CBI has strict control over banks and strict application of the principle of “Know Your Customer”. Frankly there is great progress in implementation, because the central bank’s procedures are strong and strict, and we have office and field control.

On the other hand, this issue is of international concern, and if the bank fails to comply with the criteria, it will therefore fail to deal with its external transactions. Today any bank that does not have foreign transactions will become a local shop.

Therefore, there is a commitment by banks and cooperation in providing technical support, capacity building, training and others. There are also tests for workers in these sectors, in conjunction with the establishment of anti-money-laundering units in each bank and compliance units.

We note that there is a problem of confidence in the Iraqi banks by the citizens, coupled with the failure of Mali to take over a number of banks in the past years, does the Central Bank intervene to impose an increase in the capital of banks on the one hand, and compensate the depositors on the other hand?

When we take the number of troubled banks to the total banks operating in Iraq, the ratio becomes normal. There are fewer than 5 banks now out of 70 working banks.

Banks face challenges with existing general conditions, and on the other hand there are many problems associated with citizens’ commitment to banks. When there are circumstances associated with security, political and other disintegration, there is an excess of law and a lack of commitment to pay. Most banks are new and when there are many borrowers who do not pay their installments, there is a default. There are more than 6 trillion dinars ($ 5 billion) of non-performing loans, out of 37 trillion dinars.

During the financial crisis experienced by Iraq, we had alarming indicators linked to about 10 banks, and we entered the line and put some procedures and amendments and we were able to address a number of problems and left only 3 to 4 banks need some treatments.

Was there a cash subsidy for troubled banks, or was it used for the reserve set by banks at the Central Bank to compensate the depositors?

So far we have not offered any direct monetary support, but we have paid for actions within troubled banks, and we have pressed to reduce some expenses or liquidate some assets from real estate and others, so far there has been no bankruptcy in the sector, and we avoid this move. Most of the depositors are new and “boasted” in recent years, and we do not want to hurt them.

For example, there was a bank that was the worst among troubled banks, Dar es Salaam. We applied the idea of a “bank bank”, a bank directly to the Central Bank of Iraq, which is operated for two to three years, enabling it to become ready for sale. Within this project, we turned the depositors into shareholders in the bank, which keeps their money.

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AFTER BEING DESCRIBED BY IRAQIS AS “LOOTING” , FEDERAL COURT: NO RETIREMENT SALARIES FOR MPS

BAGHDAD / Al-Masala: On Sunday, December 23, 2018, the Federal Supreme Court ruled unconstitutional articles in the House of Representatives Law No. 13 of 2018, including pensions. In a statement received by the court, the court’s spokesman Ayas al-Samuk said the court also ruled unconstitutional article 13, which singled out the president of the council and his deputies, and the members of the council with salaries different from salaries covered by the unified pension law. Article 17, which authorized the council to issue legislative decisions, And article 68 on the authority of the Council in establishing the system of priorities as being the competence of the Ministry of Foreign Affairs.

Iraqis are still pursuing a voluntary campaign to abolish salaries and pension benefits for MPs, which are doubling fantastically with the succession of election cycles.

Those who called the call, the National Campaign to Abolish Parliamentarians’ Retirement, say it is AIMED AT “JUSTICE IN THE DIVISION OF WEALTH”.

“It is not reasonable that a parliamentary retirement is five million dinars for a four-year service, while a 25-year-old employee’s salary does not exceed 300,000 dinars,” a digital activist wrote on the Facebook campaign page.

According to statements by members of the Iraqi Council of Representatives to the media, followed by “obelisk”, it can be said that “the nominal monthly salary allocated to one deputy at the current session of about 10 thousand dollars, as well as salaries of 30 security elements and 50 thousand dollars to buy a car.”

“Achieving a courageous goal to STOP THE DEPLETION OF PUBLIC MONEY BY PARLIAMENT must be on the ground, not a dream in the form of a joke in Facebook,” says author and academic Mohamed Yunus.

“We call on the people to demonstrate before the parliament until tangible results are achieved,” he said.

Yunus went further than that when he called for the intervention of the UN body, saying that “the enjoyment of these privileges by MPs is a crime against humanity.”

“A servant serving his country has four decades to come out with a short pension, while a retired parliamentarian is worth more than 50 pensioners,” he said.

“We are the only ones in the world to give pensions to the outgoing MPs and loot them with special advances with plots in high-end areas,” said Ahmed Hadi.

On the campaign page, Mawlama says that “the total number of parliamentarians’ salaries in one year is only 32 million dollars.”

The former deputy and economic expert Salam Samism described former and current members of the House of Representatives and their protections as “an army of retired pampered and constitute a heavy burden on the Iraqi treasury.”

“The current number of deputies is 325 deputies, and with the payment of 10 thousand dollars each means that they receive 3 million and 250 thousand dollars a month, as well as 3 million dollars paid to them under the name of (rent allowance).”

“We can imagine the size of the huge sums paid each month,” she said. “This is the situation of the current deputies. As for the former, we can count 275 deputies from the former parliament and their protectors and 100 members from the National Assembly and their protections. We now have a whole squad of protections. ”

“Iraq now has an army of pampered retirees who are paid millions of dollars a month without providing a service that deserves it,” said Smisem, a specialist in the economy. “The situation will be worse after four years, Much on the Iraqi treasury. ”

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US INTELLIGENCE WARNS: IF UNITED IRAQIS WILL IMPOSE THEIR CONTROL OVER THE ENTIRE MIDDLE EAST

(Mnt Goat – excuse me CIA, but is this not what the USA is supposed to have been driving towards all along. Iraq needs national unity not sectarian division. Isn’t this a goal? Why this article then and why is the CIA reporting this to Washington as such a bad thing? So this article shows us that sectarianism is and has been then a goal of the CIA and we know they are hard at work to keep Iraq divided and by doing so can exert their own form of control. Is this maybe part of the problems here in Iraq being caused by he CIA hard at work to keeps the secs divided. So what is wrong with this picture? Can everyone see it now?)

Secrets of Media: US intelligence has uncovered a plan that has been described as dangerous to integrate Shi’ites, Sunnis and Kurds into a single project led by an unnamed supreme body in Iraq.

The New York Times reported that the Central Intelligence Agency (CIA) had spotted the plan, led by a supreme religious authority based in Najaf, TO INTEGRATE SHI’ITES, SUNNIS AND KURDS INTO A POLITICAL, SOCIAL AND ECONOMIC PROJECT THAT WOULD GOVERN IRAQ IN FULL.

The CIA report revealed a sharp decline in the sectarian approach that prevailed over the past years among the local components. The organization did not succeed in destroying the social fabric of the Iraqis, but increased the convergence of communities and nationalities.

THE REPORT SAID THE INFLUENCE OF THE UNITED STATES AND IRAN’S EASTERN NEIGHBOR HAS DECLINED SIGNIFICANTLY BEYOND WHAT WAS THOUGHT.

(Mnt Goat – don’t you want democracy? If so this influence must decline)

The report pointed out that the substantial aid provided by America and Iran to gain geopolitical gains in Iraq could not make effective lobbies because of the axis led by this supreme religious body.

THE AGENCY WARNED OF THE UNITY OF THE IRAQIS, WHICH COULD EVENTUALLY LEAD TO THEIR CONTROL OF THE INTERNATIONAL EQUATIONS THAT CONTROL THE ENTIRE MIDDLE EAST, which calls for a quick review of the White House policy and concessions to the Iranians in order to preserve the interests of the two parties in the Iraqi arena, according to the newspaper.

(Mnt Goat – we know that much of the disorder and chaos in the world is brought about by the CIA. This is just another one of these policies that is doing this to the middle east. Maybe its time for Trump to put his foot down on the CIA and leave Iraq alone. )

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Articles End

Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,

Just the FACTS!

Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.

In ending I want everyone to know your constant prayers in the fight against evil (ISIS) in Iraq have worked. God has guided these young men and women on the battle field. Let us all now know that there is a new battle now to fight. A battle to save our homelands from the corrupt politicians who are bent on taking what they want from our current wealth and from future generations without our permission. We must keep praying for the end to the rapid corruption in Iraq and in the United States. We must pray for our leaders when they are being guided by the Holy Spirit. We must stand by them and let them know we are still there to support them, even after the election is over. I have composed a prayer maybe we can all pray today in our own way and until the revaluation of the Iraq dinar occurs.

PRAYER

“For the Iraqi Prime Minister and the President of the United States, that all their cabinet members, and deputies may be anointed by the Holy Spirit to do God’s will and bring the free democracies of the Republic of Iraq and the United States of America to the much-deserved prosperity and abundance thru justice and freedom from oppression and corruption. That they may be a shining example for the rest of the middle east and to rest of the world to follow.

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

Auf Wiedersehen

Much love to ya all,

Mnt Goat