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Mnt Goat News Brief 5/28/20 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat News Brief 5/28/20

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Mnt Goat News Brief 5/28/20 Empty Mnt Goat News Brief 5/28/20

Post by RamblerNash on Fri May 29, 2020 2:02 am

Hi Everyone,

I bring you much news today.  

Wow! May is almost gone. No RV yet. Next time I report to you it will be June and we soon move from spring fully into summertime.

Today’s news continues with the saga of Iraq and its inability to meet the June salaries. Iraq went out first to the IMF, then Saudi Arabia and then to Kuwait begging for money to pay these salaries. Both rejected their pleas. We know that for the month of May the GOI borrowed money from internal banks. This practice cannot continue. What will Iraq do?

I am hoping this is a wake-up call for Iraq to now move forward with its reforms in all aspects of non-oil-based revenue generation and allowing foreign investors to comfortably come into Iraq to establish businesses. Thee has to be some drastic changes and the new prime minister Al-Kazemi must be the one to make them. In fact, I will even go out on a limb and suggest conspiracies at play here that are altering the course of Iraq. Okay so what do I mean by this?

Conspiracies -in that maybe this entire oil cutback, was instigated by coercion from the Saudis and the US to get Iraq on a straight and narrow path, and at the same time pushing Iran out. Oh yes the Russian were involved and gave a convenient excuse to do it. Always has to be a  justification get it? Oh – did I mention to push down the economy of Iran even further?

So tell me - is this why Trump got the US fully off foreign oil prior? Just think of a chess game and setting up your opponent in previous moves. But at some point, there has to be a “checkmate”. Afterall this is the point of the game right?

It may seem gloomy and doomy at times but I see the plan playing out and taking shape. You just have to pay attention and put the pieces together. You only know what you don’t know. So how to do you get to know it then?

YOU PAY ATTENTION AND EDUCATE YOURSELF…!!!!! 

What you DON’T want to do is feel sorry for yourself and cry in your bier. 

Did you notice too how this oil crisis happened shortly after the assassination of Soleimani and his gang of generals? And at the same time the Corona virus pandemic. Is this all coincidental? Did someone plan out these events? Yes- I do think so? Iraq just got hit with a triple whammy!

The U.S. too with the man-made corona virus crisis. What is this really all about?

Events like these, when they happen in this kind of sequence make me very, very suspicious of someone working behind the scenes orchestrating it all and we are just ignorant pawns as part of their game.

So where are we in the progression to get the revaluation and reinstatement of the Iraqi dinar?

Like I keep telling everyone we are concerned about the “reinstatement” of the Iraqi dinar on FOREX in a tradable format. To bring this about the CBI  will have to delete the zeros from the currency. This is when we go to the bank and not before. All this other crap you are hearing is just crap, so pay attention to what news that really matters. Spend your time wisely.

So far, the CBI has been very quiet on this topic of the “project to delete the zeros”. It seems up to October 2019 they were very hot and moving ahead in the direction to do it in January 2020. Then came the protestors and after that corona virus and oil crisis. Did you notice how the CBI in the past usually gives at least a monthly update on the project? Now we have not heard anything for nearly 6+ months. Why? They have told me over and over again that they fully intend to keep the Iraq citizens informed of this event. They have kept their promise in the past and I don’t see why they would clam up now. So this is the first piece to the puzzle to figure out.

Could this be because of the continued protests and the oil crisis? We know these protests will only get yet even larger if the government has to cut back on salaries for June or worst case can not pay the salaries for June. So it may be the case that it could only get a bit worst before it gets better? Just saying…..

In my last newsletter I stated that we had a very good chance of seeing the project to delete the zeros sometime in early June but this statement was predicated on the CBI verifying this speculative statement of mine. There is so much evidence that Iraq is still moving ahead with their intentions of international movement in all directions including the ISX and foreign investors. I would not bet on the horse of them passing the budget as the only indicator of an RV. This is so ridiculous it makes me laugh. We have been down this road so many times already. I know these idiot gurus, especially this jerk TNT Tony have told you this. Of course though in his ignorance he has to cling to something since he has nothing else.

Folks the reinstatement is not going to show up in the budget. Get it? There is absolutely NOTHING in the budget that is going to indicate an RV. The CBI can simply reinstate the dinar at any time and do not need a budget to do it. When the RV does happen the GOI will simply have to re-adjust and move along with it. We do know from the past the CBI would like to coordinate with the GOI and even get permission. But we see that the holdups and unresponsiveness of the GOI in the past have held up these reforms and so the CBI may very well just decide to bypass the GOI altogether and do it in desperation.

We also have to consider the IMF and its mandated reforms on Iraq have not all been met on schedule. Could this be why they too decided not to give any more loans to Iraq. Besides Iraq can’t even pay its salaries going forward and so how in hell are they going to pay on any future IMF loans? 

So the budget does not matter. Do I have to pound this into your head or what? Every year same old guessing and putting our money on the budget. Stop this stupidity! In fact, now more than ever don’t go the budget for answers but rather what the CBI is doing behind the scenes.

So, we wait for news from the CBI and that is all we can do. I will try to contact the CBI next week and see if I can get an update from my contact. Stay tuned….

More news….

Informed Iraqi sources revealed that "Iraq's revenues from selling oil, between the beginning of last March and the end of May, will reach about $ 5 billion at best, while the actual salaries need is approximately $ 12 billion, which puts the government in the face of a devastating deficit."

(Mnt Goat – just so you know in a later article in todays newsletter they told us the salaries were about 5 trillion dinars or about 4  billions US dollars. So why are they inflating them now to $12 billion in this article? We know from reading many articles the salaries are only 4 billion. So this 12 billion is not accurate or a mistake. That’s a lot of money for salaries…lol..lol..lol..)

The sources told Arab media that "the prime minister received very encouraging Arab and international promises regarding providing adequate financial support to Iraq in order to overcome this economic crisis."

Beneficiaries of government salaries and subsidies breathed a sigh of relief when the government announced that it would pay the salaries of this May in full without deduction (cutbacks).

But the government's use of the term "deduction" to talk about salaries in June has fueled widespread speculation that deductions (cutbacks) will inevitably come in the coming months.

BEGGING KUWAIT FOR THE MONEY FOR SALARIES

Kuwaiti Prime Minister Sabah Al-Khaled stressed that the country's economic situation is good now in terms of classification and solvency, but the government has no cash to pay the salaries of next June.

(Mnt Goat – Iraq is in trouble. Where will it get the money to pay June’s salaries?)

More news….

IRANIAN DIPLOMATS SECRETLY WORKING TO LEAD IRAN'S EFFORTS TO INFLUENCE THE COURSE OF THE POLITICAL PROCESS IN IRAQ.

Reuters reported that Iranian diplomats are secretly working to lead Iran's efforts to influence the course of the political process in Iraq.

The agency added that the Iranian diplomats want Tehran to shift away from the method of imposing the strictest will in Iraq that was used by Qasim Soleimani, who was killed in an American air strike.

The agency noted in a report that THE SHIFT TO MORE CONSENSUAL METHODS IS TO BREAK THE POLITICAL DEADLOCK IN BAGHDAD, WHERE IRAN HAS BEEN WRESTLING WITH THE UNITED STATES FOR INFLUENCE FOR NEARLY TWO DECADES, and also to accelerate the departure of nearly 5,000 US soldiers from Iraq, according to three senior Iranian officials involved in the operation.

Brian Hook, the American representative on Iranian affairs, said that President Donald Trump's "extreme pressure" policy is choosing Iran between negotiating with the United States, or facing an economic meltdown as a result of US sanctions.

"Given our pressure, he faces leaders," Hook said in a conference call, "Sputnik" Iran an option: EITHER NEGOTIATE WITH US OR DEAL WITH AN ECONOMIC MELTDOWN. "

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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

GOVERNMENTAL ADVISOR: 5 TRILLION DINARS, THE GOVERNMENT'S NEED TO SECURE SALARIES FOR NEXT JUNE

The government's economic advisor expected the appearance of Mohammed Saleh, the Iraqi government to resort to financial borrowing to secure the salaries of employees and workers in the public sector for the month of June.

(Mnt Goat – we have already been told that the GOI will borrow money from the internal Iraqi banks for May and June. So, I don’t know why they are telling us this again like they still have to decide upon it.)

Saleh said, "The government borrowed three trillion dinars from government banks to secure the salaries of employees, retirees, and social welfare for the month of May ."

He added that "OIL REVENUES ARE NOT ENOUGH TO SECURE SALARIES, AND MAY REACH TWO TRILLION DINARS," noting that "the government needs more than five trillion dinars per month to secure the salaries of the state ."

And Saleh pointed out, "The government tended to streamline unnecessary expenditures, and that it resorted to loans to secure salaries for the month of June.

(Mnt Goat – I wanted to bring this article to you because it is telling us a couple things: 1)the amount of monthly $ they need for salaries (5 trillion dinars or about 4 billion dollars); 2)they are in desperate need of money and so what will they do for the June salaries? Will they borrow again? 3)will they resort to using the CBI reserves eventually? 4)they will have to do something drastic and do it soon since the price of oil is not going to jump to $60 a barrel for a long time; 5)this situation is causing great pressure to make the necessary changes for other sources of revenue and not rely on oil revenues, something they should have done already by now and the IMF kept telling them to do it. I can see many benefits for us with the drop in oil prices too as investors. Can you see what might come next?)

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IRAQ PUSHES FOR RESCHEDULING OF REPARATIONS TO KUWAIT

Iraq's Minister of Finance, Ali Allawi, arrived in Kuwait on Saturday for talks with senior officials.

Mr. Allawi held discussions with the Prime Minister of Kuwait, Sheikh Sabah Al-Khalid Al-Sabah, on bilateral relations and delivered a written message from Prime Minister Mustafa Al-Kazimi.

He also held talks with the Minister of Finance, Barrak Al-shootan, the Minister of Oil, Khaled Al-Fadhel, the Deputy Foreign minister, Khaled Al-Jarallah and other senior Kuwaiti officials.

The discussions focused on taking forward and implementing the decisions of the International Conference for the Reconstruction of Iraq held in Kuwait in February 2018, LINKING THE ELECTRICITY GRIDS OF THE TWO COUNTRIES, and RESCHEDULING (postponing) IRAQ'S COMPENSATION PAYMENTS TO KUWAIT.

(Mnt Goat – we have been told many times that by the end of 2021 these war reparations would be repaid. Iraq has been working to pay them off but now they have to halt these payments for some time. I am told this will not effect a reinstatement since the IMF is leaving any negotiations between Iraq and Kuwait between them.)

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REPORT: AL-KAZEMI RECEIVED 'SCRAP' IN THE STATE TREASURY ... AND OIL PRICES ARE 'PROMISING' TO GET OUT OF THE CRISIS

The London Arab newspaper said today, Wednesday, THAT THE GRADUAL RISE IN GLOBAL OIL MARKETS GAVE PRIME MINISTER-DESIGNATE MUSTAFA AL-KAZEMI HOPE TO OVERCOME THE COUNTRY'S FINANCIAL CRISIS, which he inherited from his predecessor, Adel Abdul-Mahdi. 

According to a report by Nass, (27 May 2020), the Iraqi Minister of Planning Khaled Battal acknowledged that the new government had received a cabinet containing some scrap, which is the common term used in the country to describe the small amounts of money. 

According to the newspaper, "THE IRAQI GOVERNMENT NEEDS APPROXIMATELY FOUR BILLION DOLLARS A MONTH TO FINANCE THE SALARIES of millions of employees, retirees and social benefits, which are payable amounts." 

It quoted informed sources that "Iraq's revenues from selling oil, between the beginning of last March and the end of May this year, will reach about 5 billion dollars at best, while the actual salaries need is approximately 4 billion dollars, which puts the government in the face of a devastating deficit."   

The sources said, "The Prime Minister received very promising Arab and international promises regarding providing adequate financial support to Iraq in order to overcome this economic crisis." 

Beneficiaries of government salaries and subsidies breathed a sigh of relief when the government announced that it would pay the salaries of this May in full without deduction. 

But the government's use of the term "deduction" to talk about salaries in May has fueled widespread speculation that deductions will inevitably come in the coming months. 

Previously, planners in the Iraqi Finance Ministry had set a hypothetical safe barrier for the price per barrel in the global market, which is $ 56 to build on the spending budget.  But ECONOMISTS BELIEVE THAT SELLING IRAQ PER BARREL OF OIL NOW AT A PRICE REVOLVING IN THE ORBIT OF $ 40 WILL SECURE THE NECESSARY SPENDING NEEDS AMID EXPECTATIONS that this price may be affordable for producers within weeks from now. 

What about visiting Saudi Arabia? 

The report believes that "the rapid announcement of the provision of staff salaries during the month of May, in full and without deduction, in conjunction with a visit by the Iraqi Finance Minister Ali Allawi to Saudi Arabia, in his capacity as an envoy from Al-Kazemi, an indication of what the new government can take of decisive steps, amid Great concern among Iraqi parties, groups and militias loyal to Iran.

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THE NATIONAL:  SENIOR IRAQI OFFICIAL LAYS OUT JUST HOW BAD IS COUNTRY’S FINANCES 

(5/27/20)

Veteran economist Mudher Salih says $50 billion were spent on importing fuel over last decade, despite the country’s oil resources.

A veteran Iraqi economist who is advising the country's new prime minister has revealed astounding figures on government waste in the resource-rich but impoverished nation.

Mudher Salih painted a picture of a state obsessed with generating cash from its oil sector without taking action to develop the country or plug black holes in the budget that have been sucking vital liquidity out of public finances for years.

Mr Salih told the official Iraqi news agency on Tuesday that THE ELECTRICITY SECTOR ALONE COSTS THE GOVERNMENT AROUND $10 BILLION (DH36.7 BILLION) A YEAR to operate but generates only seven per cent of its operating costs in revenue. The country also suffers crippling power cuts and imports electricity and gas from neighbors to boost production.

Official data show Iraq's generation capacity at 16,000 megawatts compared with the 24,000 to 30,000 megawatts needed to satisfy demand.

The former central bank official is one of the few senior independent experts in Iraq who survived purges under Saddam Hussein. He retained a senior position in the state after the consolidation of the Shiite political ascendency in 2005, the year Iraq had its first democratic poll post-Saddam.

Mr Salih said the STATE IMPORTED $50 BILLION WORTH OF FUEL in the last ten years, although Iraq is one of the top five members of the Organization of the Petroleum Exporting Countries (OPEC).

THIS AMOUNT COULD HAVE BEEN USED TO BUILD TEN LARGE OIL REFINERIES, Mr Salih said. "Big structural changes are needed in the electricity and oil sector."

WITHOUT "REAL" INVESTMENT, Mr Salih said Iraq will have no capacity to develop and progress". He added that investment was mostly made to produce more oil and that revenues outside the sector are non-existent.

He said the government will be taking "emergency measures and they will be very difficult, in addition to a long-term reform process to activate the private sector."

Mr Salih's comments echo warning by the World Bank in a recent report about Iraq facing a combination of acute shocks, which the country is ill-prepared to manage.

The report, dated Spring of this year, highlights challenges including the collapse in oil prices, the coronavirus, pandemic and "growing discontent over poor service delivery, rising corruption, and lack of jobs."

The World Bank predicted a debt trap scenario that would create pressures on the exchange rate and inflation.

The scenario assumes that if oil prices stabilized in the low $30s per barrel, Iraq would still need to raise $67 billion in financing, equivalent to 39 per cent of gross domestic product, to cover spending.

IMPLEMENTING REFORMS IN IRAQ HAS BECOME EVEN MORE CRUCIAL for the sustainability of growth and job creation," the report said.

Iraq's new prime minister, Mostafa Al Kadhimi, has signaled his intent to fix the economy by appointing his confidant Ali Allawi, a former investment banker, as finance minister. Mr Kadhimi said he found state coffers "nearly empty" when parliament confirmed him on May 5.

Mr Allawi's first trip abroad as an official over the weekend was to Saudi Arabia, the default destination for most Arab nations in economic trouble.

(Mnt Goat – So again we hear news about the necessity for Iraq to bring in investors and mover to a private sector economy, taking pressure off the GOI to pay out these salaries each month. Why not let the private sector pay these salaries? But this will not come unless the investors flock in and this will not happen until they know that Iraq has a stable, global currency that can be easily exchangeable to their own currency of their country. When will Iraq reform their currency and get out of this program rate and 3 zero notes? They have gotten so used to surviving off the US dollar now it is hard to move from it.)

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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.

To end the corona virus “manmade crisis” and to awaken people everywhere of the dark side and the tools it will use to gain power and control.

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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Mnt Goat News Brief 5/28/20 Empty Re: Mnt Goat News Brief 5/28/20

Post by Ponee on Fri May 29, 2020 8:24 pm

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