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Mnt Goat News Brief 3/12/20 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat News Brief 3/12/20

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Mnt Goat News Brief 3/12/20 Empty Mnt Goat News Brief 3/12/20

Post by RamblerNash on Thu Mar 12, 2020 9:29 pm

Hi Everyone,

I bring you much news today.

So, there is not much news to share today from Iraq. The drama of selecting a new prime minister continues. I wish I had some good news to share.

Some gurus are telling you still that this RV is going to happen any day / every day….really? All just idiots. Why do you listen to them?

I have reviewed with you already just what Iraq will need to move ahead. The corona virus is not helping either. Just this week an economist came out and said they should put the dinar on a float. Really? We know this will never happen until they are ready to also raise the rate and get out of these auctions and artificially held down rate. Folks we have read already many, many articles on the pros and cons of going on a float just inside Iraq. The key is they can not do it “just inside Iraq”. It can not ever happen since the IQD is on a fixed de-facto peg to the US dollar. I have already excplaned many times what this de-facto peg means and how it works. So everyone of my readers should be VERY familiar with it. This info alone should nullify such requests by these economists.

Yes, the CBI has adjusted the exchange rate from time to time for inflation. This is all they are allowed to do. But this is not a “float”. A float is based on market demand and floats are on an exchange where investors can come in and buy and sell. This will never happen on the artificial rate and process of the currency auctions window at the bank. It is all just talk, talk and more BS from people not responsible for the monetary policy of Iraq or who know how to manage monetary policies for countries. I did include this article in my articles section today and I though you might want to read it, nonetheless.

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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

A PARLIAMENTARIAN ANNOUNCES IT: HALBUSI WILL FALL SOON ... HE DIED POLITICALLY
Member of the House of Representatives in the name of Khazaal described, on Tuesday, Speaker of Parliament Muhammad Al-Kulousi, a "political teenager", indicating that AL-HALBOUSI DIED POLITICALLY AND WILL FALL SOON AFTER HIS INTERVENTION BY CHOOSING THE PERSONALITY OF THE PRIME MINISTER.

KHAZAL said in a press statement that "Al-Halbousi and the Kurdistan Democratic Party are still standing in the face of passing the personality of the prime minister because they do not obtain ministerial portfolios and private gains." Abdul-Mahdi from the ministries.

He added, "AL-HALBOUSI ACTS IRRATIONALLY IN MOST POLITICAL MATTERS, including interfering with the selection of the prime minister's personality," describing him as "a political teenager."

And that "that" the dependence of the United States of America on Al-Halbusi in achieving its goals proves the failure of the American administration because he is not aware of political behavior


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ECONOMISTS: MINERAL INVESTMENT MAXIMIZES THE COUNTRY'S RESOURCES

Specialists in the economic affairs called for the necessity of investing mineral extraction to diversify the country's financial resources, stressing the importance of getting rid of the rentier economy, while the Economic and Investment Committee explained the reasons for not approving the mineral investment law in the House of Representatives.

Member of the Parliamentary Economy and Investment Committee Nada Shaker Jawdat said in a statement to "Al-Sabah" and was seen by "The Economy News", that "the Iraqi economy is rentier and depends on oil only, pointing out that oil problems are many, as there are fluctuations in oil prices because they are affected by economic, political and security aspects ".

She added, that in the event of an escalation in the Gulf region or the Mediterranean, it will affect oil prices and consequently the Iraqi economy will be affected, stressing the importance of thinking to find alternatives to the economy through diversification of its resources, as Iraq possesses natural resources of minerals and others that are still not utilized properly.

She stressed "the necessity of investing minerals in the underground in an optimal way, as well as taking advantage of oil recovered in the manufacturing industries," noting that "Iraq, instead of selling oil for 40 to 60 dollars, can sell it in thousands of dollars if the manufacturing and petrochemical industries are supported." And she continued to date Iraq imports energy and even most of the oil derivatives despite the extraction of large quantities of oil, noting that the importance of benefiting from Iraqi oil in the petrochemical industries.

She indicated that "there is a mineral investment law prepared by 95 percent within the Economic and Investment Committee and it will be ready to vote during the upcoming sessions," noting that " She stressed, "The minerals in Iraq are good. When they are invested, they will make a lot of money, pointing out that the Iraqi sand itself is considered a great economic wealth."

Metal Industry
"Iraq presented many investment opportunities in the field of mineral industry, where there are many investment opportunities for construction and mining industries in Iraq, where many mineral ores and industrial mineral ores are located in different regions of Iraq.
The Iraqi Geological Survey is the government agency concerned The mineral investigation and exploration of these minerals is also the authority responsible for implementing the Mineral Investment Regulation Law No. 91 of 1988 amending, and the Iraqi Geological Survey Authority presents a number of investment opportunities for investment, including phosphates, free sulfur , Sulfates, silica sand, red clays and brick clay, among others.

Free sulfur is present in the governorates of Nineveh and Salah al-Din, where sulfur is among the rocks of the formation of the hole (middle myosin) within the sequences of the curb, gypsum, and marl in the region extending from the east to the hole.

The composition of the Al-Mishraq
shows sulfur in the form of nests, bundles of calcite, and coral material in about twelve domes, the most important of which are the installation of Al-Mishraq and Al-Zazaqah in Nineveh and the installation of an alcohol in Salah al-Din.

The proven and calculated reserves are estimated at (600) million tons of free sulfur, of which 60% is soluble and extractable by (bedding) method.
As for the phosphate deposits, they may be found in Al-Anbar Governorate in the Western Desert region to the west and northwest of the city of Rutba, near the Iraqi-Syrian border.
The deposits of phosphate ore are found in three groups, namely, formation of Akasadate (Palaeocene), formation of the murky (Eocene), and formation of dikmeh (late Cretaceous).
Natural resources
to that, stressed the economic expert Ahmed Al-Majdi, "the need to give importance to investing Iraqi natural resources and minerals in a manner that ensures the achievement of significant financial resources for the
country."

Al-Majidi said in a statement to "Al-Sabah" that "the Ministry of Industry and Minerals has to offer investment opportunities in front of international companies to invest minerals as Iraq has many types of minerals such as sulfur, phosphates, salt, sand, clays, etc., indicating that these minerals are still hidden and not well invested." ".
He added that "the investment of minerals needs an integrated law that is legalized within the House of Representatives," pointing out that there is a law in this regard that still has some political differences that prevented its passage during previous parliamentary sessions.

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THE FINANCIAL ECONOMIC CATASTROPHE IS COMING TO IRAQ AS SOON AS WE IMAGINED

The financial economic catastrophe is coming to Iraq as soon as we imagined And it started today: with a decrease in the Brent mix (Brent oil), which is the global measure of the price of oil, it started today at $ 32 per barrel (after what was before the spread of the Crohn’s virus at $ 62) ((The cost of our production in Iraq is now $ 12 per barrel) means our net resources decreased from ($ 50 per barrel - $ 20 per barrel.) Meaning that the annual budget resources decreased from ((80 billion dollars - to 32 billion dollars only), . meaning that the annual budget deficit will rise to more than 60%
This deficit will cause a complete collapse in the Iraqi economy if it continues for another year.

It will cause the state to fail economically and the possibility of declaring bankruptcy completely.

Which means the collapse of Iraq .as a country and becomes one of the economically failed countries And the nature of the national collapse means that Iraq will completely lose the state’s fundamentals, and it is natural for division, fragmentation and civil war, and this is what we warned of during years, especially during the .past few months.

What are the exceptional urgent solutions that stop this collapse and the methods of dealing with the required ?economy immediately and how to deal with it All economic researchers loyal to the patriots are required to advance this responsibility and engage the entire Iraqi people with an urgent and exceptional awareness campaign, especially the youth of Iraq, to ward off the deadly threat to our country and compel politicians to change their approach and leave the economy in the hands .of professionals to preserve and preserve the country and change their failed policy stop being unjust to this country.

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FORMER MINISTER: IRAQI DINAR ON THE WAY TO "FLOAT"

The former minister, Amer Abdul-Jabbar, confirmed today, Wednesday, that the Iraqi dinar is on the way to floating, in light of the sharp decline in oil prices, while noting that employees should expect that during the coming days their salaries will be deducted.

"The continuation of monetary policies and the current government in the same contexts with the sharp decline in oil prices will be catastrophic, and the employee should expect to deduct his salary, perhaps for half, or spend part of his salary every two months," noting that "the next stage may witness a reduction in employee salaries, deductions and taxes to reduce the budget deficit." .

He added that "the Iraqi dinar is on its way to float (i.e. reduce its value), and the Iraqi government may have to increase the exchange rate of the dollar to 1250 dinars against the dollar in order to obtain additional funds estimated at 4 trillion dinars in the budget and this matter is positive because it will allow encouraging the national industry because it will raise the value Imported goods and makes domestic competitive. "

He added, "We are afraid of a government decision to reduce the price of the dinar against the dollar to 1300 or 1350 in the event that the drop in oil prices is catastrophic. This float will cause the price of commodities to rise and burden the citizens. The state may use it to reduce the budget deficit."
Abdul-Jabbar continued, "The government's decision to place customs and other exemptions to remove visa amounts with some neighboring countries has harmed Iraq and contributed to preventing the entry of important revenues to the state," noting that "since 2018, he warned of low oil prices in 2020".

He pointed out that "the advisory base available to the Prime Minister is not qualified to deal with major crises, especially those related to low oil prices." Because it will take the place of others. "

And Abdul-Jabbar said, "The recent appointments made by the Prime Minister killed the state and burdened its finances, and there is a 200-square-meter department with 270 employees."

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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) 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
RamblerNash
RamblerNash
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