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Mnt Goat News Brief 6/30/20 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat News Brief 6/30/20

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Mnt Goat News Brief 6/30/20 Empty Mnt Goat News Brief 6/30/20

Post by RamblerNash on Thu Jul 02, 2020 9:48 pm

Hi Everyone,

I bring you much news today.

As we all know Iraq has a major liquidity problem and is on the brink of bankruptcy. This is caused be a few factors. One is the drop in oil prices and the other is the corona virus response. But seriously, if we look deep into this crisis it all stems from the lack of response in the past corrupt Iranian backed Shiite government not to react to recommendations from the IMF to more to a private sector economy and to implement the reforms necessary to support this move. We all witnessed hundreds of these articles in the past so we all should be VERY familiar in what must be done.

So, I refer to not only the financial reforms, such as the project to delete the zeros, but also to reforms in the customs and tariffs and energy sectors to generate revenues rivaling from the oil industry. Also, Iraq is still quirky in their dependence on gasoline, diesel fuel and electricity from outside sources. Why?

Here is a country rich in high-grade, sweet crude and they have to import their energy supplies? Okay, so it takes money ( to make money) to develop these sectors but they had the money in the past but if all the corruption did not suck the life out of Iraq these sectors would have already completed and these reforms implemented. Get it? The result now would not be a crisis but a prosperous crisis. The current crisis would probably be just a bump in the road. Most importantly for us investors- we would have already exchanged our dinars and been on our way too.

So, to make it very clear to everyone these projects now must be completed. There are no more second chances. Each month they delay they are digging a hole deeper and deeper for themselves. Okay, so they somehow finagled once again the June salaries. But how many more months can they seem to pull a rabbit out of their hat? How many more chances will the GOI have to finally get off their asses and make the necessary changes?

We can read all the current articles and see the path they want to travel to correct this situation. They have a plan but political opponents and resistance is still strong. All the articles are in my newsletters so please take the time and try to understand what their plan is.

In conclusion I will say with a positive attitude that these reforms will NOT work unless they make the monetary reforms to coincide and allow a FREE FLOW of capital and this means going international and using their currency for trade and trading their currency on the exchanges.

More news….

FOREIGN RESERVES HELD BY THE CENTRAL BANK ARE NOT SURPLUS FUNDS

The real financial surplus is the government’s revenue that is represented by the Ministry of Finance that exceeds its public expenditures during a fiscal year. If the Ministry of Finance achieves revenues (crude oil sales in general) with a value greater than its expenditures (investment spending and current spending) it will achieve a budget surplus. That the government invest it, either internally or externally in the form of sovereign funds or investment funds, etc., and vice versa if public revenues are less than expenditures and then achieve a real deficit that requires its financing, either by searching for additional revenues, enhancing existing revenues, or resorting to internal borrowing.

More news….

LOSS OF BILLIONS OF DOLLARS ANNUALLY IN THE OUTLETS, GANGS, GROUPS, BANDITS AND INFLUENTIAL PEOPLE, WHO SOMETIMES CONTROL THE OUTLETS AND AT THE EXPENSE OF THE STATE

Politics
2020/06/25

Shafaq News / The Iraqi Prime Minister vowed on Thursday to what he called the “ghosts” who control the border outlets, stressing that his government will soon start fighting these and restoring access to the outlets.

Al-Kazemi’s speech came during his meeting with a group of media professionals, journalists, and political analysts, according to a statement of his office received by Shafaq News.

Al-Kazemi said, “There is a loss of billions of dollars annually in the outlets, and that there are gangs, groups, bandits and influential people, who sometimes control the outlets and at the expense of the state.”

Al-Kazemi vowed, “There will be a campaign soon to restore consideration to the outlets, and we will fight ghosts.”

More news….

FIVE REASONS FOR THE CONTINUED WASTE OF FINANCIAL RESOURCES FOR IRAQ.

Professor of Economics at the University of Basra, Nabil al-Marsoumi, Friday, presented five reasons for the continued waste of financial resources for Iraq.

The first is the presence of mafias of corruption in the official border outlets, and the second is the control of some parties and clans over the unofficial outlets of more than 10 outlets, and the third is the entry of goods from Kurdistan's outlets that do not deliver their proceeds from customs duties to the customs authority."

He continued: "As for the fourth reason, it is related to exemptions from the payment of customs duties obtained by influential parties in the state and some investors, and the fifth relates to the exemption of 371 Jordanian commodities from customs duties according to the economic agreement signed with them."

More news….

COMPREHENSIVE REFORM PAPER WILL GENERATE $ 20 BILL IN NON-OIL REVENUES

Member of Parliament, Riyadh Al-Masoudi, confirmed that the comprehensive reform paper that the government intends to prepare will save more than $ 20 billion in non-oil revenues.

Al-Masoudi said: "The comprehensive reform paper is expected to reach parliament within 60 days," noting that "this paper aims to prepare an integrated strategy in the direction towards the real development of industrial and agricultural projects, in addition to the development of the communications sector."

He added that "the House of Representatives voted on the borrowing law, as there is no alternative to it at the present time, and among the conditions of the parliament was to fulfill the government by preparing a government reform paper."

Earlier, Prime Minister Mustafa Al-Kazemi discussed with the Parliamentary Committee on Economy and Investment the forthcoming reforms paper to face the challenges facing the country and discussed the white paper prepared by the Council of Ministers, which includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

(Mnt Goat – this “reform paper” is the White Paper I presented to you in my June 25th newsletter. Did you read it? Can you see how this is the path to the reinstatement?)

More news….

IRANIAN BACKED POLITICIANS: AL-MALIKI, AL-AMRI AND AL-KHAZALI’S SPEECHES WILL BE SEMI-STANDARDIZED IN ATTEMPTS TO DISMISS AL-KAZEMI

On Saturday, a political source revealed that Shiite forces are negotiating to study the possibility of dismissing the government of Prime Minister Mustafa Al-Kazemi.

The source told “Al-Ikhbaria”, that “negotiations are under way within some of the Shiite forces to study the possibility of dismissing the government, as the next step will be to negotiate with the Sunnis and the Kurds to agree in exchange for being lured by quotas.”

(Mtn Goat – Whenever good prevails evil will always try to dismiss it and get rid of it. We see this too in the USA as the battle to try to get rid of Trump continues.)

Full article is below.

More news….

PARLIAMENT BINDS THE GOVERNMENT TO A SPECIFIC DATE TO SEND THE BUDGET LAW

The House of Representatives voted, on Wednesday, to oblige the government to send the budget law no later than the end of this month.

A parliamentary source told Mawazine News that "the House of Representatives voted on the formula for the following decision: The government should expedite sending the federal budget bill for the year 2020 at the latest by 6/30/2020."

More news….

AN EXPERT WARNS OF THE COLLAPSE OF THE IRAQI ECONOMY IF THE GOVERNMENT IGNORES THE 2020 BUDGET

Economist Wissam Al-Tamimi warned, on Tuesday, of the collapse of the Iraqi economy with the government continuing to ignore the issue of the budget, pointing out that a lot of money may be misplaced and unprecedented corruption may occur.

Al-Tamimi told “Information” that “PARLIAMENT OBLIGATED THE GOVERNMENT TO SEND THE 2020 BUDGET, Even for the remaining months of this year in conjunction with the vote on the borrowing law.”

He added that " IRAQ MAY WITNESS THE LARGEST CORRUPTION AND THEFT IN ITS HISTORY IN THE EVENT THAT IT DID NOT APPROVE A BUDGET FOR THE CURRENT YEAR, AS BORROWING MONEY MAY BE USED INCORRECTLY AND GO TO THE POCKETS OF THE CORRUPT", indicating that "the statements of Kurdistan employees that were sent to Baghdad need to be investigated and audited through control teams sent to the region to check in the field with the names mentioned in the lists, where there can be fraud in those names and thefts to balance the country.

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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

RAID OF THE HEADQUARTERS OF THE IRAQI "HEZBOLLAH" SEIZING MISSILES AND THE ARREST OF 3 LEADERS

BAGHDAD (Reuters) - Iraqi security forces raided a headquarters belonging to a powerful Iran-backed militia in southern Baghdad late on Thursday, seized rockets and detained three commanders of the group, two Iraqi government officials said.

The officials said the militia group targeted was the Iran-backed Kataib Hezbollah, which U.S. officials have accused of firing rockets at bases hosting U.S. troops and other facilities in Iraq.

IT WAS THE MOST BRAZEN RAID IN YEARS BY IRAQI SECURITY FORCES AGAINST A POWERFUL PARAMILITARY GROUP BACKED BY TEHRAN, whose proxy militias have developed military, political and economic dominance in Iraq.

On Thursday night, Friday, an Iraqi anti-terrorist force arrested 13 members of a pro-Iranian faction, in light of the rocket attacks against American interests in the country, in a precedent since the beginning of those attacks 8 months ago. A government source and two other security officials said that the people who had been arrested in the Dora area, south of Baghdad , had seized and had missiles intended for launch inside a missile manufacturing workshop .

They indicated that they belonged to the Hezbollah Brigades faction, which Washington has repeatedly accused of targeting its soldiers and diplomats.
A government official said that one of the three leaders detained in the raid was Iranian, and said Iraqi special forces from the Counter-Terrorism Service carried out the raid.

(Mnt Goat – these Tehranian backed powerful paramilitary groups remember are the same ones who came into Iraq to help fight ISIS and never left Iraq. This was under Abadi. This was a very bad decision on his part to allow them to enter Iraq without some withdrawal agreement in place for post – ISIS. These proxy militias have developed military, political and economic dominance in Iraq and we have seen the devasting effects. But it is only a matter of time before they are gone. This news today is yet more evidence of this.)

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

THE CENTRAL BANK GOVERNOR COMMENTS ON THE CONCEPT OF FOREIGN CURRENCY RESERVES AND ITS USES

June 25, 2020 Walter

Economie 2020/06/25

Baghdad today – Baghdad
Iraqi Central Bank Governor Ali Mohsen Ismail commented, on Thursday, about what some are deliberating regarding the uses and concept of foreign currency reserves (cash, deposits, bonds, gold).

Alaak said in a statement, “Unfortunately some people understand the foreign reserves of the Central Bank as a surplus invested abroad … the real financial surplus the government has from surplus funds that invest in various forms such as sovereign funds, investment funds, and generational funds, among others.”

He added, “AS FOR THE RESERVES AT THE CENTRAL BANK, THEY CORRESPOND TO THE DINAR ISSUED TO THE GOVERNMENT OR OTHERS.

IT IS A COVER FOR THE LOCAL CURRENCY AND IT MUST NOT BE LESS THAN A LEVEL OF ADEQUACY DETERMINED BY INTERNATIONAL PRINCIPLES, otherwise the value of the local currency (the dinar) will collapse as happened in the previous system.

And the relationship continued, as for how the reserve is managed in terms of the type of currencies and the type of instruments, they are GOVERNED BY INTERNATIONALLY RECOGNIZED RULES AND IN ALL CENTRAL BANKS, and we follow the same rules and in the subject complex and broad technical details.”

It is noteworthy that when the government borrows internally, it is tantamount to withdrawing from foreign reserves because the dinar that it borrows is pumped into the market and turns into a demand for mostly imported goods and goods and the payment of foreign liabilities, and it (the government) does not place a dollar in exchange for it to lead to the withdrawal and reduction of foreign reserves.

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

SOURCE: AL-MALIKI, AL-AMRI AND AL-KHAZALI’S SPEECHES WILL BE SEMI-STANDARDIZED IN ATTEMPTS TO DISMISS AL-KAZEMI

On Saturday, a political source revealed that Shiite forces are negotiating to study the possibility of dismissing the government of Prime Minister Mustafa Al-Kazemi.
The source told “Al-Ikhbaria”, that “negotiations are under way within some of the Shiite forces to study the possibility of dismissing the government, as the next step will be to negotiate with the Sunnis and the Kurds to agree in exchange for being lured by quotas.”
The source pointed out, “There is little hope of sacking Al-Kazemi and the master of the game is the head of the Al-Fath Alliance Hadi al-Amiri and the head of the State of Law coalition Nuri al-Maliki.”
The source, who preferred not to be named, added, “Al-Maliki today is the closest relative to Al-Amri and the Secretary-General to Asaib al-Haqq Qais Khazali and their speech will be almost unified in the coming period.”

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

TALKS WITH KURDISTAN GOVERNMENT DID NOT GO WELL

Al-Nab, Alia Nassif, said on Monday that the Kurdish delegation rejected the conditions of Baghdad and returned to Erbil because it guarantees the rights of the south and north.

Nassif praised, in a statement received by / Mawazine News / a copy of it, of the "national (equitable) steps of the negotiating government side during the recent talks with the Kurdish delegation that visited Baghdad, indicating that the central government has proven through the conditions that it stipulated on the Kurdish side that it supports the preservation of rights The Iraqi people from north to south. "

She added, "The central government has the right to demand the Kurdistan Regional Government to impose its control on all of the region's revenues, including oil, taxes and others, in exchange for granting the region an amount of 453 billion dinars per month, and it has the right to demand the receipt of all oil produced in the region, and that the region's proportion of revenue from the crossings Borderlands is only 50%. "

Nassif continued, "These points preserve the rights of the Iraqi people from north to south and end the suffering of our Kurdish people from the issue of the delay in the distribution of their salaries and put an end to oil smuggling operations, but unfortunately these points did not impress the Kurdish delegation who rejected them and returned to Erbil without reaching an agreement."

And she indicated, "Issues on these subjects making a good development in the talks had to happen sooner or later, to achieve justice in the distribution of wealth, and we hope that the government will proceed in this direction."

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

A Three-Stage Proposal To Review The Exchange Rate Pricing On The Basis Of The Impact Of Low Oil Prices

The Iraqi National Business Council responded to the advisor to the Speaker of Parliament, Humam Al-Shamaa, indicating that the dinar exchange rate against foreign currencies through the currency sale window for obligations imposed by itself due to the circumstances that Iraq is going through, in advance of A THREE-STAGE PROPOSAL TO REVIEW THE EXCHANGE RATE PRICING ON THE BASIS OF THE IMPACT OF LOW OIL PRICES with setting priorities for the import of raw materials for local industries

The council said in a message seen by / Mawazine News that "the dinar exchange rate against foreign currencies through the currency sale window for obligations imposed itself due to the circumstances that Iraq is going through, WHICH WERE UNFORTUNATELY INTERPRETED IN A DIFFERENT WAY TO DISTORT THE FACTS," "Going to say" and we are not surprised by such responses skepticism and accusations, as we have become accustomed to it AS A PRIVATE SECTOR TO MARGINALIZE AND UNDERESTIMATE OUR ROLE, and this wrong behavior is what led Iraq to our donors because of the hegemony and BUREAUCRACY OF THE GOVERNMENT SECTOR THAT FAILED OVER MORE THAN (17) YEARS OF MANAGING THE ECONOMIC FILE.

"We were hoping for A DIRECT DIALOGUE WITH THE DECISION-MAKERS TO DISCUSS OUR PROPOSALS TO FIND SOLUTIONS TO ADDRESS THE GAPS that we need most in these difficult circumstances," he added.

The Council stated that it is a socio-economic organization that possesses field and theoretical capabilities and experiences and can express opinions and advice to all Iraqi state institutions to correct paths wherever they are found.

The Council pointed to the reference of the candle in its message about the theory of inflation and its repercussions, and the increase in poverty rates to (20%) of the oppressed people who fell below the poverty line, and the few were blessed with wealth.

He believed that this diagnosis is "an affirmation that the wrong policies of successive governments after the year (2003) in managing the economy created the large gap in the standard of living between (the elected few?) and THE MAJORITY OF THE PEOPLE WHO SUFFER FROM POVERTY AND NEGLECT DUE TO CORRUPTION AND MISMANAGEMENT."
He added, "You (Al-Shamaa) talked about the necessity of mobilizing resources because of the three challenges (falling oil prices, corona, and early elections), and that the rulers of the Iraqi people’s leader (according to the description of Al-Shamaa) do not bear more tensions for fear that the table will turn against them." The Council considered that this the offering is "strange logic."

"CHANGING THE EXCHANGE RATE WE CALLED FOR TO ACHIEVE JUSTICE, ERADICATE CORRUPTION, COLLECT TAXES AND CUSTOMS DUTIES, AND PROTECT THE PRODUCT WILL TURN THE TABLE OVER THE RULERS," HE ASKED.

(Mnt Goat – this is the WOW statement in this article. Yes, the economists see the necessity to change the exchange rate and complete the project to delete the zeros)

He stressed that this "is to mobilize resources instead of exchange differences, tax and customs evasion go to the pockets of the corrupt and transfer without import."

He stated that "improving the social welfare network, increasing inclusiveness and compensating retirees through resources derived from accidental results FROM CHANGING THE EXCHANGE RATE FROM THE STATE'S DUTIES TO RAISE INJUSTICE AND REDUCE THE LEVEL OF POVERTY."

He also pointed out that "the social protection network is not a continuous state, as is the ration card, but rather a temporary case due to the lack of diversified sources of income and dependence only on oil imports."

He stressed the importance of "setting the right policies and strategies and implementing them to upgrade the industrial and agricultural realities and other economic sectors while providing climates for the growth of the private sector and involving it in the economic decision WITH A REAL FIGHT AGAINST CORRUPTION AND IMPROVING THE INVESTMENT ENVIRONMENT WILL PROVIDE HUNDREDS OF THOUSANDS OF JOBS AND THUS THE PROTECTION NETWORK WILL BE REDUCED TO UNIMPORTANT LEVELS AND THIS IS IN PLACE IN ALL COUNTRIES OF THE WORLD. "

(Mnt Goat – in other words this last paragraph is saying to go international and be on a level playing field with other countries)

He also saw that "THE CHANGE IN THE EXCHANGE RATE HAS NOTHING TO DO WITH THE PROCESS OF PRINTING THE CURRENCY and we do not need to recall its disadvantages, mixing the papers from the economic scripts, as PRINTING MORE OF THE CURRENCY IN AN ILL-CONSIDERED AND WITHOUT COVER WILL LEAD TO INFLATION. We did not demand this for security, neither near nor far, but rather that Tthis process on its own terms and conditions. "

He also asked about what is the equation on which the Central Bank relied on proving the exchange rate from the fixed rate of (1190), KNOWING THAT A NUMBER OF NEIGHBORING COUNTRIES EXPORTING TO IRAQ HAVE FLOATED THEIR CURRENCY AGAINST THE PRICES OF THE DOLLAR

"WHY DO WE CLING TO A FIXED OF THE EXCHANGE RATE and not allow it to change slightly to achieve additional imports into the state treasury while increasing the ability of the domestic product to compete and grow?," he said.
.
"THE JOB OF SELLING THE CURRENCY IS NOT ONE OF THE DUTIES OF THE CENTRAL BANK," ANN SAID, EXPLAINING THAT THIS WAS RECOGNIZED BY THE GOVERNOR OF THE CENTRAL BANK, WHO CONFIRMED THE MINISTRY OF FINANCE'S REQUEST TO EXEMPT IT FROM THIS COMMISSION.

He presented a three-stage proposal:

First stage is TO REVIEW THE EXCHANGE RATE PRICING ON THE BASIS OF THE IMPACT OF THE OIL PRICE DROP, while setting priorities for the import of raw materials for local industries – and he said that "

As for the second stage, it requires "STUDYING THE EXCHANGE RATE OF THE MANUFACTURED AND EXPORTING COUNTRIES TO IRAQ in pricing the dollar against what is included in the development of industry and agriculture locally based on a standard situation for the purpose of fulfilling the market need of imported goods with locally produced goods."

He also stressed the setting of "priorities for the import of raw materials for local industries" and warned of what he called "black money", calling for the collection of customs, taxes and other fees such as product protection and others in addition to the exchange rate during the sale and transfer of currency, these foundations on which our mission and appeal appealed.

As for the THIRD STAGE, IT CONCERNS THE TAX AND CUSTOMS DUTIES, and the council said, "The central bank still apologizes for doing it, as it is not one of its tasks."

He concluded the question, "Why did the bank not apologize for selling the currency, which is one of the tasks of the Ministry of Finance?"

*************************************************************
MUSTAFA AL-KAZEMI, TO TRACK DOWN THE ARMED GROUPS AND REVEAL THEIR IDENTITIES IN A SHORT TIME AND PUT AN END TO THEM

Former military advisor Safaa Al-Aasam confirmed today, Sunday, the ability of the Commander-in-Chief of the Armed Forces, Mustafa al-Kazemi, to track down the armed groups and reveal their identities in a short time.

Al-Aasam said that “Prime Minister Mustafa Al-Kazemi is very serious in tracing armed groups and revealing their identities,” pointing out that “Al-Kazemi also HAS THE ABILITY TO PUT AN END TO THESE GROUPS VERY QUICKLY.”

He added that “eight years of missile strikes by groups that sometimes call the resistance or armed groups unchecked and are in fact outlawed groups and rebel against the state !!”

Al-Asam pointed out that “THE OPERATIONS STARTED FROM THE TIME OF FORMER PRIME MINISTER NURI AL-MALIKI UNTIL NOW, and they cause embarrassment and a real challenge to Al-Kazimi’s government to the world and foreign relations in conjunction with the strategic dialogue between the United States of America and Baghdad.

(Mnt Goat – yes its time to clean out these militant terrorists groups out of Iraq and deal with them once and for all. Good job Al-Kazimi! )

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

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 “man-made 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
RamblerNash
RamblerNash
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