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Mnt Goat's News Brief & The Beg-A-Thon Continues! 10/6/20
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Mnt Goat's News Brief & The Beg-A-Thon Continues! 10/6/20
by RamblerNash Thu Oct 08, 2020 5:00 am
Hi Everyone,
I bring you much news today.
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More news….
So today in giving my normal upfront summary of where we are in the RV, I want to first address two items (get ready this is a long read).
The first item is that we know that that Iraq is having a very difficult time paying September’s salaries. Remember that Iraq is still 95% socialist and so this means that 95% of the jobs are all still under the government and thus paid salaries by the government. This is the quagmire that Iraq has been trying to get itself out of since 2003 and can’t seem to manage to do it. It needs to move to a free-enterprise, private sector capitalist system and move this burden of salaries over to the private sector. This has not been done already not because they too don’t recognize the need but because of corruption. The Iranian-backed, corrupt, stagnant, status quo they are now still in today. Iran does not want Iraq to progress. This is the downturn of socialistic society.
In socialism, the government controls all aspects of production and wealth and not the individual such as in a capitalistic system. Why would anyone want the USA to move to a socialistic system is a question for another time but it is pure madness. We can clearly see the corruption and the lack of concern for the citizens in Iraq as our example. Socialism is a power grab by the upper politicians. The only ones who really benefit are the elite ones at the very top who can control and hoard with their laws and thus it is frailish thinking that you, the middle or lower classes, are going to have a better way of life under socialism. Under socialism quality and quantity suffer at the expense of all as the “system” tries to distribute to all at the expense of all. Incentives to work diminish and thus production suffers. Without production quality and quantity suffer. Go study socialism and you will see the damage it has done to Iraq over decades of Saddam Hussein. Why in hell would the USA trade capitalism for socialism?
However, times are changing in Iraq and the new prime minister and his cabinet are on a mission to fix this socialism to a capitalistic system. In fact, there is no other choice for Iraq as it is either “do or die” at this point. So, Iraq must move to a private sector and this will mean finally reinstating the dinar. I can go into much more detail of all the banking reforms and preparations such as place holders already on FOREX and NASDAQ for this upcoming move. Oh – did I mention all the other bells & whistles also worked on over the years setting they up to international. Did you remember just recently too the EU has said they will relieve Iraq off the international terrorist list if they conduct themselves according to a list of demands? This has occurred and thus the EU has said this will occur by mid-October. It is now almost mid-October. We know that the US too will follow behind the EU in relief of OFAC sanctions. Let us also not forget the WTO’s promise to “fast track” Iraq to full accession. Their next meeting with Iraq is in early November. I believe this may very well happen at this time. Will Iraq be ready?
My next point today is to describe how I collect my intel and thus pass it on to you. So, what I do mostly is look for trends. But to follow trends you need to study what Iraq is doing and not forget the past. But first you have to know the past and connect their present actions to it. You can’t forget what has happened. Many gurus don’t want to take the time to study the articles. But if we do, we can see the connections to the past, see the trends and relate it to the current events.
The other source of information I go by is my long-standing contact in the CBI. This is a person I became very good friends with when I was stationed in Iraq after the invasion of 2003 was completed. What I told I combine with what I am have observed myself and draw my conclusions.
So, over these past months I have kept telling you in my intel summaries that we must see something from the CBI for the re-education of the newer notes and coins and the moving ahead with the project to delete the zeros. Of course, this was if we expected to see any reinstatement of the dinar by early 2021 in January. We know that January is the optimum month as it is the beginning of the Iraqi fiscal year. Thus the finance committee would like to CBI to target this timeframe and they have targeted January many times already and always seem to target this timeframe.
Completion of this project to delete the zeros in the next couple months leads us to the inevitable reinstatement of the dinar in January. Without the deletion of the zeros the currency can not move forward. I said I would bring this news to you and we must watch carefully for from the CBI and actions inside Iraq.
So today I want to present some “WOW!” news to you in this regard.
News last Friday that the banks of Iraq were about to distribute yet more of the 1000, 500 and 250 dinar notes. These are technically NOT the lower denominations we are looking for. These denominations have been in circulation since 2003. Yes, the CBI calls them “lower denominations” as they are the lowest of the denominations now in circulation and later, upon completing the project to delete the zeros, will the highest denominations in circulation. So, they are very important. By no hype or amazement here so far…right? But the significance of issuing these notes is still important in the overall effort. You will see what I mean…read on.
So why is TNT Tony making such a big deal about these so-called lower denominations? It is because he has no other news to tell and must hype up anything that sounds good. Is he really that dumb? Doesn’t he even know these denominations have been circulated since 2003?
But the good news is this, and TNT Tony idiot guru completely missed it, - they are NOT replacing the higher denominations such as the 50k, 25k, 10k and 5k notes. Instead they are infusing more of these 250, 500 and 1000 notes in circulation. But why? This is the important question that should be asked. So, let me explain this to you.
These notes will become the new norm and will become the highest category notes in circulation of the end result once they complete the PROJECT TO DELETE THE ZEROS. See it now?
These notes, although they are already in circulation and have been since 2003, only now there is more emphasis, usefulness and practicality for them. The other notes such as the 5k, 10k, 25k and 50k notes will be used for inter-banking transactions only and not meant in the future to be held by the average citizen. The CBI has told us this over and over again. I have all the articles to back this up. So, this is FACTUAL not some intel guru bullshit. Also by using these 5k, 10k, 25k and 50k notes for future inter-banking use makes them legal tender for years to come. This is why the notes we hold in our grimy little hands are not going to be lopped. Get it? I don’t care what Turkey, Iran, Zimbabwe or ?? is doing. Iraq is not going to delete the zeros in a lop. Lop is for hyper-inflation to bring the rate back to reality. It is a tool used by the IMF for this very purpose. So, although it may seem on the surface the Iraqi dinar is about to be “lopped” in principle this is not the case as we know they are keeping the inflation rate very low. They have managed to do this in spite of all the corruption and money stolen. In fact, if you look at this way, it is amazing just how resilient Iraq really is in keeping themselves out of the hyper-inflation category at this time. But if they don’t make some key currency and banking reforms moves now, they are doomed to hyper-inflation in the near future for sure and we can chalk them up to yet another failed economy in the world. But there is very good news and I don’t think this is going to happen to Iraq.
The CBI and banks are getting ready to launch the smaller of the small denominations notes and some coins. There are two starter denominations in particular namely the 100 and the 50 dinar notes. The CBI is also re-educating the citizens on the coins. This is FANTSTIC news! Get ready because something BIG is coming.
As usual they are using TV trucks and park them in strategic locations throughout busy intersections. They are displaying the new coins and talking about them. I am still waiting for articles to come out but my CBI contact assures me this is happening right now- LIVE! So, I do believe it is FACTUAL but needs to be yet verified in writing by the CBI. I suspect the articles will follow shortly.
Let’s take a step back and compare these current actions to the past. What are the connections and trends?
In January of 2016, after they stopped the fall 2015 project to delete the zeros (do you remember?) the CBI told us then that we should look for the 100 and 50 notes to come out first along with some coins as this will be the first wave of lower denominations. But they needed a more stable & secure environment to do so. Do you remember this is when they also then told us to look for 2017 as our new target for the project to delete the zeros?
In retrospect I believe this was all just a game being played out by Alli Al- Alaq the governor. He was just stringing everyone along year after year. He actually had no intentions of doing anything as his hands were ties up with the corrupt Iranian officials. His life was actually at stake. Remember he was an Iranian backed replacement of Dr Shabibi, the third of the replacements since Dr Shabibi was ousted. Now he is gone and replaced with a non-Iranian backed governor. This was also very good news given to us recently. So I think they are fast-pacing this reinstatement.
Of course, they blocked the RV again in 2017 and did not even give us any honest answer as to why. This is when we knew the Iranian militias and politicians had taken a stronghold on Iraq as the CBI was hijacked.
Now having said all this, for those of you who were in this investment way back in the spring and summer of 2012 you should remember that Dr Shabibi was on a mission to reinstate in January of 2013. Today we see almost the exact same schedule for the roll out as we witnessed back then. In 2012, news articles came out (I have the articles) that in September of that year the banks were going to launch the news coins and some lower notes. Another article talking about the 100 and the 50 notes. It’s now early Oct 2020 and they are re-educating the citizens on the lower denominations just as they did back then. Are they about to roll them out? Are they following this same pattern?
If you recall in that spring and summer of 2012, this was one of the most exciting times ever for us investors. We thought this revaluation and reinstatement would soon be over. However, we know why it was stopped. It was due to the Nori al-Maliki corruption and the raid on the CBI and the ousting of the governor of the CBI, Dr Shabibi. It was all corruption!
In retrospect, the ousted governor of the CBI, Dr Shabibi was interviewed in 2015 and this is what he told us:
He told us that Iraq had an “UNPRECEDENTED OPPORTUNITY” to reinstate the dinar in January of 2013. That the IMF permission was given and they truly planned to do it. So, we know this as FACTUAL and not guess work or just intel guru chatter. We must stick to the FACTS and go from there.
So, the current pattern we are now seeing, parallels the pattern from the past 2012/2013 period. It is telling us the end game is to the rollout these coins and new currency and then the reinstatement. Remember we do not go to the bank until the Iraq dinar is once again relieved of OFAC sanctions and reinstated on FOREX. Get it? There is nothing magical about it. No Chinese involvement or “madam Woo”, yellow bonds, large tranches of money or other bullshit.
So, the good news today is it seems the CBI is now taking the same path as in 2012/2013. Let’s just pray that this progress continues and nothing obstructs this process. It could and you must realize nothing is certain until it happens. We must keep praying! We could very well see the reinstatement in January 2021 or maybe even sooner since we know they desperately need to pay October, November and December salaries too. Can they even wait until January 2021?
We can clearly see they are trying to wait and get ahold of more internal borrowing. But can this even work at this point. There is a law in place stating that any more borrowing to pay debts must get approval of parliament first.
Why can’t Iraq just borrow from international means?
If you have been following the news all along since this summer you know the reasons why. It is clearer than ever countries don’t want to lend money to Iraq unless they have an international currency and a stable country. They want and need Iraq on the international trading platforms. They want Iraq as a developed nation with a market economy. They need them to join in with the western culture. This helps in the guarantees of repayment process. This will put Iraq into an entirely new window of opportunity and thus not leading to a third-world like situation (which is the direction they are now moving to if they don’t take some action now). I know this may be hard for many of you to understand how a country can have so much wealth in all sectors and not just oil, and yet not be able to pay their govt employee salaries.
But read the articles today as they are telling you the solutions. It is no secret what Iraq is about to do.
More news….
THE 'WHITE PAPER' ON ECONOMIC REFORM PROMISED BY AL-KAZEMI COMPLETES
Today, Sunday, an informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed.
The source said to "People" (October 4, 2020) that "the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the House of Representatives."
He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."
Full article in in the below articles section.
More news….
The Parliamentary Finance Committee confirmed, today, Friday, that the current financial deficit in Iraq is temporary, indicating that the House of Representatives is ready to hold any emergency session in order to solve the current crisis and that immediate borrowing can be done and then the situation is remedied.
(Mnt Goat – this is only going to buy more time for September salaries and they know it. What about the coming months?)
More news….
BLOOMBERG: U.S. OPENS TRADE CASE TO PROBE VIETNAM CURRENCY UNDERVALUATION
(10/3/20)
The U.S. announced it’s opening a trade investigation into Vietnam’s currency policy to determine whether an undervalued dong hurts American businesses. The probe follows determinations in August by the U.S. Treasury and Commerce departments that Vietnam had manipulated its currency in a specific trade case involving tires.
(Mtn Goat – you know I do not favor this ridiculous GCR notion. But like I have been saying there is potential with the DONG for revalue but there is work to be done first and it is happening now with the Trump administration.)
More news….
SPECIALISTS REVEAL: THESE ARE THE REASONS FOR THE DOLLAR'S RAPID RISE AGAINST THE DINAR
The dollar has increased steadily and rapidly over the past three days, reaching 124,500,000 dinars in local markets from about 120,000 dinars per 100 dollars. Some exchange offices said the rise in the dollar was due to the recent unstable security situation and the threat of us closure of its embassy as a result of some rocket fire on the embassy building.
"The recent rise will not be significant and has not exceeded 3 percent and therefore remains within the internationally permitted limits," he said
More news….
THE CENTRAL BANK BEGINS IMPLEMENTING STEPS TO REFORM THE BANKING SECTOR
Today, Monday, the Central Bank of Iraq began implementing its first reform steps for the banking sector, as it finished classifying private commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of standards approved by this bank.
This step comes within the framework of enhancing confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.
This bank confirms that it had previously asked the lagging banks more than once to work on correcting their situation and paying their customers' dues. Therefore, this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders.
Finally, we announce that the next stage will include the process of "reforming government banks as well," noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. (56) of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued pursuant to them.
More news….
MINISTER OF FINANCE: $ 250 BILLION HAS BEEN STOLEN FROM IRAQ SINCE 2003
October 4, 2020 Walter
Minister of Finance Ali Abdul Amir Allawi
Economy News – Baghdad
Finance Minister Ali Allawi said that the ECONOMIC REFORM PAPER THAT WILL BE PRESENTED SOON includes the activation of the partnership law between the public and private sectors, explaining that $ 250 billion has been stolen from Iraq since 2003.
Allawi added, in a seminar organized at the headquarters of the guest house in the Green Zone, and I saw the Economy News on a video of the session published on the page of the Economic Reform Institute, that my vision includes making the private sector the main and pivotal engine in the economy, adding that the compass of the Iraqi economy must change towards free work. And not to rely on government sector work.
More news….
WARNING OF THE BANKRUPTCY OF IRAQ .. AN EXPERT SETS A FINAL CEILING FOR BORROWING FROM THE CENTRAL BANK
The economic expert, Abdul-Rahman Al-Mashhadani, held the Ministry of Finance fully responsible for the delay in salaries of employees, while the World Bank warned in a previous report that Iraq would go towards "bankruptcy."
Al-Mashhadani said in a press statement that "the last statement of the Finance Committee, which was issued in response to the Ministry of Finance, which demanded a vote on the borrowing law, came because there is no other means followed by finance, to finance operational budgets other than borrowing."
Al-Mashhadani pointed out that “the borrowing requested by the Finance Ministry is unreasonable, as it earlier demanded that it be loaned in order to meet the interests of the state until the end of 2020, but it is now returning and requesting the passage of the borrowing law, and this indicates that there is no plan at the Ministry of Finance to match the salaries of employees except resort To the internal debt ”.
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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
ON ITS FIRST ANNIVERSARY ... IRAQI DEMONSTRATORS RETURN TO AL-MAYADEEN AND 7 DEMANDS OF THE AL-KAZEMI GOVERNMENT
With the beginning of the second year of the start of the demonstrations in Iraq on the first of October of last year, 2019, in light of the mobilization and calls from the revolutionaries to rise again after stopping due to the Corona pandemic. Will the momentum return to the street again, despite the government's decisions and promises?
Observers believe that the second year of the Iraqi street uprising will be more momentous, and new classes and groups will join the demonstrators due to the deteriorating economic conditions, the increase in unemployment and the government's inability to pay salaries, that is, matters have become more suitable for demonstrations than last year.
CORRECT PATH
The Secretary of the Arab Tribes Union in Iraq, Thaer Al-Bayati, says that the resurgence of escalation by the demonstrators on the first anniversary of the Tishreen Revolution was expected, but this was clearly announced months ago, after its luster had diminished for many reasons.
He added to " Sputnik " that the peaceful approach that the revolution followed for a whole year exposed and exposed the nakedness of the political process, and the blood of the "martyrs" and the wounded that shed in the squares directed the Iraqis' compass towards salvation from their bitter reality in which most people live, and it created in them certainty that Everyone's blood is open to militia bullets and security forces guns.
The Secretary of the Tribal Union added, that the revolution revealed many false international slogans that praise human rights and hide behind its interests, and showed the hypocrisy of the United Nations and its representatives in Iraq, after they submitted false reports about the reality in the country, where all parties have proven that they are partners in the blood that is She asked throughout the country, indicating that the continuation of peace on the part of the demonstrators dropped all masks
Escalation is coming Al-Bayati emphasized that the next wave of the revolution at the beginning of its second year will build on what has been achieved and reaffirm unified demands, and the escalation is coming strongly to achieve the goals of the revolution, and I believe that it will continue this time and will not stop whatever the results of the conspirators from inside and outside the country. Iraqis voted in all Diaspora countries, and we are confident that the day of salvation has come on the horizon.
For his part, Iraqi political analyst Abdul Qadir al-Nayel said that the launch of the large demonstrations on the first anniversary of the October Revolution on the first day of October with this momentum, will and steadfastness over the demands against the political process and the power parties, and the rejection of sectarian quotas, and the confirmation of the rejection of militias, uncontrolled weapons and Iranian interference, confirms that the revolutionaries are determined On the sovereignty of Iraq, we are affirming that the constitution should be frozen, that the election law be individual in multiple districts, and that the winner of 50 + 1 is the one who qualifies to win and represents the people.
He added to "Sputnik":
"The ELECTION LAW MUST INCLUDE PREVENTING DUAL NATIONALITIES FROM RUNNING, the necessity for the return of 9 million displaced persons and immigrants to Iraq, and ENSURING THAT THEIR VOTES ARE NOT RIGGED, all of this will not be achieved in light of the current situation, which confirms that escalation is the choice that the demonstrators have made on the current and upcoming trip, In particular, the government authorities' failure to restrict weapons and protect the demonstrators from kidnapping and assassination. "
NEW PROTESTERS
Al-Nayel added, "The current government has not fulfilled its pledges to present the killers of the demonstrators, which the revolutionaries considered biasing the militias and concealing organized crime that the government and the power parties did not describe as terrorist crimes. Other data have been added that will increase the momentum of the revolution and escalation, as the economic situation plays an important role in The lives of peoples. Today, graduates are without jobs, employee salaries are late, and the economic collapse that has affected all the Iraqi people and has risen to 50%, in the absence of any government measures that reduce or reduce their damages or preserve their percentage he political analyst confirmed that new demands from victims of the economy, unemployment and non-payment of salaries will join the second wave of the evolution, which began with the beginning of this October, and their rise to the ranks of the revolution will be wider with the rise in the ceiling of the demonstrations, demands and escalatory activities that will surround the headquarters of the ruling authority and will be more influential On it, which will make it expand horizontally and vertically.
EXPECTATIONS TO COME
Al-Nayel expected that 25 October 2020 will be an important date in the escalation, especially since the families of the "martyrs" of the demonstrations and their clans, along with all Iraqis, will be present in all squares and squares in fulfillment of this pure blood that was a tax for their demand to restore the homeland.
It is noteworthy that hundreds of demonstrators commemorated in Tahrir Square, this evening, Thursday, the first anniversary of the start of the October protests .
And Tahrir Square issued a statement of urgent demands for the Al-Kazemi government, according to the Iraqi "Al-Baghdadiya" channel. This is his text:
In the name of the martyrs of freedom, the martyrs of the October Revolution and the free people everywhere in Iraq, the wounded and patient, against the injustice of the new tyrants everywhere today is the first anniversary of the October Revolution in which the youth of Iraq surprised the government of snipers and the world when the free Iraqis came out. Today the revolutionaries gathered across Iraq and agreed on their true conditions the following:
1- Holding the protesters' killers accountable, headed by the former head of the repressive authority, Adel Abdul-Mahdi, and the leaders of the sectors who carried out the killing orders.
2- Hold the previous commission accountable for cases of fraud, and the formation of a new independent commission made up of retired independent judges who are unblemished.
mending the election law to suit the people's aspirations.
4 - Activating the political parties law to ensure that no party that has an armed wing will participate in the elections, the political money is kept away, and a law is activated from where did you get this.
5 - Restricting weapons in the hands of the state and purifying the security services.
6 - a - The advisory councils formed by the government do not represent the October uprising with all its names and titles.
6- b- The parties that were formed taking advantage of the name of the October Uprising are illegal and have nothing to do with the uprising even if some of the weak-minded who had participated in the uprising belonged to it
7 - The release of the detainees and ensuring the abolition of the arbitrary rulings against the uprisings, the cessation of legal prosecutions, and the abolition of all consequences that the authority arranged against the uprisers to silence them.
Otherwise, we give the ruling authority a period until October 25, and our demand will be to bring down the regime.
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US MILITARY COMPANY WINS A CONTRACT WORTH MORE THAN $ 19 MILLION IN IRAQ
The American Lockheed Martin Company obtained a contract worth 19 million dollars from the Iraqi Ministry of Defense regarding the Iraqi CLS air defense system.
"The contract provides for support for the continuity of the air defense system to include specialized expert support, engineering support, return and repair and country evaluation visits," the US Department of Defense stated on its website.
He added that "the work will be carried out in Iraq and Syracuse in New York City, where the contract is expected to be completed on June 6, 2023."
It is noteworthy that the American Lockheed Martin Company is responsible for making the F-16 planes, which the company left after the withdrawal of its employees from Iraq, leaving the F-16 aircraft unable to fly due to the lack of equipment and spare tools in a clear process of pressure on the Iraqi government.
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GOVERNMENT FOUR IMPORTANT STEPS IN ORDER TO MOVE THE IRAQI ECONOMY AND MARKET FROM THE RECESSION
Mawazine News
The Parliamentary Work Committee proposed, on Thursday, to the
government four important steps in order to move the Iraqi economy and market from the recession in it.
Deputy Chairman of the Committee on Labor, Social Affairs,
Immigration and Displacement in Parliament, Hussein Arab, said, "The Iraqi market has been suffering from a recession since June of last year, adding to it the recession due to the Corona pandemic 10 times more than there is in the world."
Arabs added, "We propose four steps in order to move the economy, which is to attract local investment and move the cash mass that the citizens have, estimated at $ 30 billion, in addition to moving electronic cash and circulating internal cash."
The Vice-Chairman of the Committee continued, "It is an affair
The government includes those steps and supplying the market with them and assisting traders and the private sector, the ability to pull the market out of loss, by launching urgent and quick grants for the industrial and
agricultural private sector and moving the local investment market, as the foreign investor could not work in Iraq under the current circumstances.
Arabs explained that "the monetary mass in the homes of citizens is estimated at 30 billion dollars, and they refuse to deposit it in banks due to their lack of confidence in it, and that money should have been used to move the market by raising the interest rate (on deposits) in banks."
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A "GOLDEN PLAN" THAT GIVES IRAQ MORE THAN 16 TRILLION ANNUALLY, "PAYS SALARIES FOR TWO YEARS" ... AND DISCLOSES 23 ENTITIES "WHOSE IMPORTS ARE HIDDEN AND WASTED BUDGETS"
One of the female employees in the Rafidain Bank, called Victoria Zarzis, who is in the position of Deputy Director General in the Rafidain Bank / General Administration, sent a letter to the government containing important and serious details about the Iraqi financial map, and ways to obtain the lost Iraqi funds.
In her message, she said: Instead of borrowing and looking for confused, urgent and ill-considered solutions to solve the problem of the economic and financial crisis in Iraq and drowning Iraq in debts that have no way to escape from them, as long as the spoilers have fun in its institutions, so you must first correct the course of the financial policies of previous governments and the manipulation of their officials with the capabilities of the homeland and the state's revenues .
She added: The Iraqi Oil Ministry supplies its refineries with one million barrels of oil per day. This is what was mentioned by more than one official. Of course, this oil is refined inside the refineries, and a barrel of oil is converted into 100 liters of gasoline or 100 liters of kerosene that is supplied to gas stations, and it becomes as follows:
The 1,000,000 barrels of oil x 100 liters of gasoline or kerosene = 100,000,000 one hundred million liters of gasoline or kerosene.
One liter of very regular gasoline and kerosene is sold inside Iraq at 450 dinars.
So, the state's imports of petroleum products (benzene - kerosene) only daily:
100,000,000 liters x 450 dinars = 45,000,000,000 billion dinars per day.
And it comes monthly:
45,000,000,000 billion dinars x 30 days = 1,350,000,000,000 trillion dinars per month.
And it becomes annually from oil derivatives:
1,350,000,000,000 trillion dinars x 12 months =
16,200,000,000,000 trillion and two hundred billion dinars annually, Iraq's imports of petroleum products (gasoline and kerosene) only.
And she continued: Where does this huge, hidden amount of money go, which is ignored by all the ministers who succeeded in the ministries of oil and finance, the majority of representatives and officials, and all of them did not dare to open this issue at all!
And she added: This amount, O Prime Minister and Minister of Finance, is sufficient to pay the salaries of all Iraqi employees from first to tenth grade for a period of two years, so do you have the courage to be frank with us and tell us about this enormous amount where it goes ?, not to mention the revenues of gas, aircraft gasoline, white oil and black oil.
Not to you about the non-oil revenues that cover the salaries of employees for years and provide services to all cities, governorates, and state sectors?
Zarzis indicated the waste of money with several questions as well:
1. Where are the revenues of the General Tax Authority ?!
2. Where are the revenues of the Ministry of Communications and Mobile Networks ?!
3. Where are the revenues of the Communications and Internet Networks Commission ?!
4. Where are the revenues of the border crossings and customs departments at all ports ?! In our turn, we ask: Why open 24 border outlets in Kurdistan, of which one dinar has not entered the state, while it is closed in the center and south out of fear of the transmission of the Coronavirus epidemic ?!
5. Where are the revenues of Iraqi airports and airlines ?!
6. Where are the revenues of the Municipality of Baghdad ?!
7. Where are the revenues of the real estate registration departments throughout Iraq ?!
8. Where are the revenues of the public traffic departments ?!
9. Where are the revenues of the Ministry of Electricity ?!
10. Where are the revenues of the water and sewage departments throughout Iraq ?!
11. Where are the revenues of the Ministry of Health ?!
12. Where are the municipalities' revenues in all governorates of Iraq ?!
13. Where are the revenues of the Ministry of Agriculture ?!
14. Where are the revenues of the Ministry of Water Resources ?!
15. Where are the state real estate rents ?!
16. Where are the revenues of ships and vessels transporting oil ??
She showed: It is time for you to stop wasting Iraqi money in each of the following angles:
1. An auction for the sale of the currency at the Central Bank of Iraq; Iraq's annual losses from it are estimated at 4 billion dollars!
2. Two billion dollars lost annually in the commissions of the Ministry of Commerce!
3. The colossal budgets of the two endowments: the Shiite and the Sunni!
Zarzis concluded its message by saying:
What is important is that if these revenues were properly received by the state treasury, oil would have been a secondary resource for the Iraqi people and not a major resource.
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THE 'WHITE PAPER' ON ECONOMIC REFORM PROMISED BY AL-KAZEMI COMPLETES
Today, Sunday, an informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed.
The source said to "People" (October 4, 2020) that "the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the House of Representatives."
He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."
On Sunday, Finance Minister Ali Abdul Amir Allawi confirmed that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services.
Allawi said in a statement to the official agency, and "people" followed him (October 4, 2020), that "the budgets for the years 2021-2023 we have started working on them now, but they will not be the main ones, because the Ministry of Finance is currently unable to implement it in a complete way, but it may hinder it." For a year and a half so that we can move from the traditional budget-drawing method to the program budget. "
He added, "Tax revenues constitute a very small percentage of the state's resources, and it is not high if compared to any other country, because the tax structure is reasonable in Iraq."
He pointed out that "citizens will not respond to taxes, and they may have justification, because the state does not provide them with the necessary services, so the level of taxes must be linked to services and their quality."
He continued, "It is assumed that we get 8 trillion dinars from taxes, while we are currently getting less than one trillion, because there are large exemptions and exemptions."
He stated, "Iraq contains a kind of state seizure, as it is not necessary for this seizure to be by the parties, but it may be from all parties that have a stake and influence on the decision-making."
He stressed, "The need to subject the state to completely different professional controls and ways of working, and the solution must be a kind of separation between the legitimate and semi-legal requirements of political parties, according to the electoral results, because the balance is difficult, so that we have a completely independent government apparatus, which does not exist now." ".
Finance Minister Ali Abdul-Amir Allawi said that paying employees' salaries is a matter related to the House of Representatives voting on the borrowing law, stressing that this step will address the current deficit in the country.
Allawi added in a statement to the official agency, followed by "People" on Sunday (October 4, 2020), that "the salaries of retirees for the current month have been launched without any problem, pointing out that the salaries and allowances of employees will be launched during the next few days or weeks."
He added, "The amounts will be available if the House of Representatives approves the borrowing law," stressing that "the borrowing law is very important because it meets the financial needs of the state and addresses the deficit in the budget."
The Parliamentary Finance Committee confirmed, earlier Friday, that the fiscal deficit is a temporary condition in Iraq, but the Minister of Finance has the powers to take immediate action.
The committee's reporter, Representative Ahmed Al-Saffar, said in a statement to the official channel, followed by "People" (October 2, 2020), that "the current deficit is a temporary and embarrassing deficit for the government and parliament, because there is a slight deficit to finance the salaries of the month of September, which the government is late in paying." Noting that "in the event of waiting for the submission of the draft budget or the submission of a new loan law, the issue will be delayed by more than a week, 10 days, or maybe more, and this will lead to a lot of embarrassment."
He added that "according to the public finance literature, the Iraqi constitution, and the Financial Administration Law, if there is a slight deficit, the Minister of Finance has the powers to take immediate action," indicating that "there are two types of debt; real fixed debt which results from a significant decrease in real revenues versus expenditures." The public deficit is a permanent and permanent deficit and it is called the fixed debt, but the current deficit in Iraq is a temporary deficit, and the debt is called a debt remaining in the public finances and it is possible to put up temporary treasury bills that express the existence of revenue but it is a delayed income. Future. "
He continued, "Iraq does not have a financial crisis because it has resources, but the state and the government cannot access them, so the current deficit in Iraq is a temporary deficit, and the debt is a debt and the deficit can be paid in the future." The great embarrassment for the government is for the finance minister to move to offer bills and immediate borrowing from Iraqi banks or the central bank to pay salaries. Then the move will take place a week later when Parliament begins its sessions and the normal situation in Baghdad returns after the forty-day visit.
Al-Saffar pointed out that "the draft budget was delayed sending it to the House of Representatives, and there was only one night remaining in the Office of the Speaker of Parliament, and it was withdrawn by the government until the Finance Committee did not see it, and I do not know the reasons behind the withdrawal of the project, and this embarrassment to the House of Representatives by the Ministry of Finance is absolutely unacceptable because The mistake and imbalance is the lack of monetary and financial policies in Iraq. All that exists is that they are waiting for debts and financing the operating budget. "
Al-Saffar stressed that "the parliament is ready to hold any emergency session in order to solve the current crisis. It is possible to borrow immediately and then remedy the situation after a while because it is not correct that the employee waits for days without a salary and this is his only source of income."
He pointed out that "there are two solutions; either submitting the draft budget as soon as possible until it is approved, or resorting to new borrowing if the government is able to obtain Parliament's approval because the issue of debt in Iraq has become in a very dangerous range and leads the Iraqi economy to the unknown."
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MINISTER OF FINANCE: $ 250 BILLION HAS BEEN STOLEN FROM IRAQ SINCE 2003
October 4, 2020 Walter
Minister of Finance Ali Abdul Amir Allawi
Economy News – Baghdad
Finance Minister Ali Allawi said that the ECONOMIC REFORM PAPER THAT WILL BE PRESENTED SOON includes the activation of the partnership law between the public and private sectors, explaining that $ 250 billion has been stolen from Iraq since 2003.
Allawi added, in a seminar organized at the headquarters of the guest house in the Green Zone, and I saw the Economy News on a video of the session published on the page of the Economic Reform Institute, that my vision includes making the private sector the main and pivotal engine in the economy, adding that the compass of the Iraqi economy must change towards free work. And not to rely on government sector work.
He stressed that the private sector should benefit from the Iraqi market as well as the Arab and international markets, explaining that the state’s resources management must be in partnership with the private sector and gradually because the public sector currently provides very weak services.
He noted that the agricultural sector in Iraq is subsidized by the state at an amount of 6 trillion dinars, pointing out that the tax sector in Iraq is very weak, and the citizen has the right to not pay taxes in exchange for weak services provided by the public sector.
He noted that Iraq’s revenues from the border outlets are less than 1% due to the large exceptions and exemptions granted.
He explained that the main decisions that affect the economy are mostly politicized, and started to increase and not decrease, and this issue has been inherited since 2003, and most of these decisions are related to the economic relations of the parties with the parties that can help them.
He indicated that 250 BILLION DOLLARS WERE STOLEN FROM IRAQ SINCE 2003 and until now, and this amount is built by several countries, explaining that spending this money was not an economic goal, but rather a financial benefit for some parties, which led to a decline in the state’s capabilities, pointing to changing this matter not overnight .
He stressed that Iraq imports from Iran electricity and gas annually at an amount of 4 trillion dinars, but the Ministry of Electricity is unable to pay these funds from the collection, explaining that 30% of Iraq’s imports pass through the northern ports and tax revenues are not subject to the control of the center.
(Mnt Goat – we know for FACT that over 1 trillion US dollars has been stolen since 2003 from the Iraqi people. Enough to rebuild Iraq 10 times over. So this article is being nice but not accurate. How do I know this for FACT? They have told us this years ago so this number is now ever higher than 1 trillion $. Again I tell you that you must remember the past when you read current articles as they will lie and deceive you.)
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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 is working in the battle against the corruption of Iran in Iraq, the corruption of the democrat party in the USA and the corruption of the labor party in the UK. Yes your prayers are working. God has guided these patriotic men and women on this new battle field. It is a battel for the mind filled with propaganda and lies. He has guided the honest, patriots of Iraq, the USA and the UK to fight for their homeland.
So, this new war now on our citizens is underway. 3 corrupt countries, 3 heroic men and 3 miracles. God’s Hand At Work!
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. It is a battle against this crooked idealism of globalization and a One World Government of enslavement.
We must keep praying for the end to the rapid corruption and enslavement of people. 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. That they may listen to the Holy Spirit for guidance in fighting this war on us.
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 or politics 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”
P.S. (Please if you can – say the rosary every day. You can do it while you take your daily run or walk. You can do while you lie in bed in the morning or nighttime before sleep. You don’t even need a set of rosary beads as you can use your ten fingers ...lol..lol..lol… )
Auf Wiedersehen
Much love to ya all,
Mnt Goat
I bring you much news today.
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More news….
So today in giving my normal upfront summary of where we are in the RV, I want to first address two items (get ready this is a long read).
The first item is that we know that that Iraq is having a very difficult time paying September’s salaries. Remember that Iraq is still 95% socialist and so this means that 95% of the jobs are all still under the government and thus paid salaries by the government. This is the quagmire that Iraq has been trying to get itself out of since 2003 and can’t seem to manage to do it. It needs to move to a free-enterprise, private sector capitalist system and move this burden of salaries over to the private sector. This has not been done already not because they too don’t recognize the need but because of corruption. The Iranian-backed, corrupt, stagnant, status quo they are now still in today. Iran does not want Iraq to progress. This is the downturn of socialistic society.
In socialism, the government controls all aspects of production and wealth and not the individual such as in a capitalistic system. Why would anyone want the USA to move to a socialistic system is a question for another time but it is pure madness. We can clearly see the corruption and the lack of concern for the citizens in Iraq as our example. Socialism is a power grab by the upper politicians. The only ones who really benefit are the elite ones at the very top who can control and hoard with their laws and thus it is frailish thinking that you, the middle or lower classes, are going to have a better way of life under socialism. Under socialism quality and quantity suffer at the expense of all as the “system” tries to distribute to all at the expense of all. Incentives to work diminish and thus production suffers. Without production quality and quantity suffer. Go study socialism and you will see the damage it has done to Iraq over decades of Saddam Hussein. Why in hell would the USA trade capitalism for socialism?
However, times are changing in Iraq and the new prime minister and his cabinet are on a mission to fix this socialism to a capitalistic system. In fact, there is no other choice for Iraq as it is either “do or die” at this point. So, Iraq must move to a private sector and this will mean finally reinstating the dinar. I can go into much more detail of all the banking reforms and preparations such as place holders already on FOREX and NASDAQ for this upcoming move. Oh – did I mention all the other bells & whistles also worked on over the years setting they up to international. Did you remember just recently too the EU has said they will relieve Iraq off the international terrorist list if they conduct themselves according to a list of demands? This has occurred and thus the EU has said this will occur by mid-October. It is now almost mid-October. We know that the US too will follow behind the EU in relief of OFAC sanctions. Let us also not forget the WTO’s promise to “fast track” Iraq to full accession. Their next meeting with Iraq is in early November. I believe this may very well happen at this time. Will Iraq be ready?
My next point today is to describe how I collect my intel and thus pass it on to you. So, what I do mostly is look for trends. But to follow trends you need to study what Iraq is doing and not forget the past. But first you have to know the past and connect their present actions to it. You can’t forget what has happened. Many gurus don’t want to take the time to study the articles. But if we do, we can see the connections to the past, see the trends and relate it to the current events.
The other source of information I go by is my long-standing contact in the CBI. This is a person I became very good friends with when I was stationed in Iraq after the invasion of 2003 was completed. What I told I combine with what I am have observed myself and draw my conclusions.
So, over these past months I have kept telling you in my intel summaries that we must see something from the CBI for the re-education of the newer notes and coins and the moving ahead with the project to delete the zeros. Of course, this was if we expected to see any reinstatement of the dinar by early 2021 in January. We know that January is the optimum month as it is the beginning of the Iraqi fiscal year. Thus the finance committee would like to CBI to target this timeframe and they have targeted January many times already and always seem to target this timeframe.
Completion of this project to delete the zeros in the next couple months leads us to the inevitable reinstatement of the dinar in January. Without the deletion of the zeros the currency can not move forward. I said I would bring this news to you and we must watch carefully for from the CBI and actions inside Iraq.
So today I want to present some “WOW!” news to you in this regard.
News last Friday that the banks of Iraq were about to distribute yet more of the 1000, 500 and 250 dinar notes. These are technically NOT the lower denominations we are looking for. These denominations have been in circulation since 2003. Yes, the CBI calls them “lower denominations” as they are the lowest of the denominations now in circulation and later, upon completing the project to delete the zeros, will the highest denominations in circulation. So, they are very important. By no hype or amazement here so far…right? But the significance of issuing these notes is still important in the overall effort. You will see what I mean…read on.
So why is TNT Tony making such a big deal about these so-called lower denominations? It is because he has no other news to tell and must hype up anything that sounds good. Is he really that dumb? Doesn’t he even know these denominations have been circulated since 2003?
But the good news is this, and TNT Tony idiot guru completely missed it, - they are NOT replacing the higher denominations such as the 50k, 25k, 10k and 5k notes. Instead they are infusing more of these 250, 500 and 1000 notes in circulation. But why? This is the important question that should be asked. So, let me explain this to you.
These notes will become the new norm and will become the highest category notes in circulation of the end result once they complete the PROJECT TO DELETE THE ZEROS. See it now?
These notes, although they are already in circulation and have been since 2003, only now there is more emphasis, usefulness and practicality for them. The other notes such as the 5k, 10k, 25k and 50k notes will be used for inter-banking transactions only and not meant in the future to be held by the average citizen. The CBI has told us this over and over again. I have all the articles to back this up. So, this is FACTUAL not some intel guru bullshit. Also by using these 5k, 10k, 25k and 50k notes for future inter-banking use makes them legal tender for years to come. This is why the notes we hold in our grimy little hands are not going to be lopped. Get it? I don’t care what Turkey, Iran, Zimbabwe or ?? is doing. Iraq is not going to delete the zeros in a lop. Lop is for hyper-inflation to bring the rate back to reality. It is a tool used by the IMF for this very purpose. So, although it may seem on the surface the Iraqi dinar is about to be “lopped” in principle this is not the case as we know they are keeping the inflation rate very low. They have managed to do this in spite of all the corruption and money stolen. In fact, if you look at this way, it is amazing just how resilient Iraq really is in keeping themselves out of the hyper-inflation category at this time. But if they don’t make some key currency and banking reforms moves now, they are doomed to hyper-inflation in the near future for sure and we can chalk them up to yet another failed economy in the world. But there is very good news and I don’t think this is going to happen to Iraq.
The CBI and banks are getting ready to launch the smaller of the small denominations notes and some coins. There are two starter denominations in particular namely the 100 and the 50 dinar notes. The CBI is also re-educating the citizens on the coins. This is FANTSTIC news! Get ready because something BIG is coming.
As usual they are using TV trucks and park them in strategic locations throughout busy intersections. They are displaying the new coins and talking about them. I am still waiting for articles to come out but my CBI contact assures me this is happening right now- LIVE! So, I do believe it is FACTUAL but needs to be yet verified in writing by the CBI. I suspect the articles will follow shortly.
Let’s take a step back and compare these current actions to the past. What are the connections and trends?
In January of 2016, after they stopped the fall 2015 project to delete the zeros (do you remember?) the CBI told us then that we should look for the 100 and 50 notes to come out first along with some coins as this will be the first wave of lower denominations. But they needed a more stable & secure environment to do so. Do you remember this is when they also then told us to look for 2017 as our new target for the project to delete the zeros?
In retrospect I believe this was all just a game being played out by Alli Al- Alaq the governor. He was just stringing everyone along year after year. He actually had no intentions of doing anything as his hands were ties up with the corrupt Iranian officials. His life was actually at stake. Remember he was an Iranian backed replacement of Dr Shabibi, the third of the replacements since Dr Shabibi was ousted. Now he is gone and replaced with a non-Iranian backed governor. This was also very good news given to us recently. So I think they are fast-pacing this reinstatement.
Of course, they blocked the RV again in 2017 and did not even give us any honest answer as to why. This is when we knew the Iranian militias and politicians had taken a stronghold on Iraq as the CBI was hijacked.
Now having said all this, for those of you who were in this investment way back in the spring and summer of 2012 you should remember that Dr Shabibi was on a mission to reinstate in January of 2013. Today we see almost the exact same schedule for the roll out as we witnessed back then. In 2012, news articles came out (I have the articles) that in September of that year the banks were going to launch the news coins and some lower notes. Another article talking about the 100 and the 50 notes. It’s now early Oct 2020 and they are re-educating the citizens on the lower denominations just as they did back then. Are they about to roll them out? Are they following this same pattern?
If you recall in that spring and summer of 2012, this was one of the most exciting times ever for us investors. We thought this revaluation and reinstatement would soon be over. However, we know why it was stopped. It was due to the Nori al-Maliki corruption and the raid on the CBI and the ousting of the governor of the CBI, Dr Shabibi. It was all corruption!
In retrospect, the ousted governor of the CBI, Dr Shabibi was interviewed in 2015 and this is what he told us:
He told us that Iraq had an “UNPRECEDENTED OPPORTUNITY” to reinstate the dinar in January of 2013. That the IMF permission was given and they truly planned to do it. So, we know this as FACTUAL and not guess work or just intel guru chatter. We must stick to the FACTS and go from there.
So, the current pattern we are now seeing, parallels the pattern from the past 2012/2013 period. It is telling us the end game is to the rollout these coins and new currency and then the reinstatement. Remember we do not go to the bank until the Iraq dinar is once again relieved of OFAC sanctions and reinstated on FOREX. Get it? There is nothing magical about it. No Chinese involvement or “madam Woo”, yellow bonds, large tranches of money or other bullshit.
So, the good news today is it seems the CBI is now taking the same path as in 2012/2013. Let’s just pray that this progress continues and nothing obstructs this process. It could and you must realize nothing is certain until it happens. We must keep praying! We could very well see the reinstatement in January 2021 or maybe even sooner since we know they desperately need to pay October, November and December salaries too. Can they even wait until January 2021?
We can clearly see they are trying to wait and get ahold of more internal borrowing. But can this even work at this point. There is a law in place stating that any more borrowing to pay debts must get approval of parliament first.
Why can’t Iraq just borrow from international means?
If you have been following the news all along since this summer you know the reasons why. It is clearer than ever countries don’t want to lend money to Iraq unless they have an international currency and a stable country. They want and need Iraq on the international trading platforms. They want Iraq as a developed nation with a market economy. They need them to join in with the western culture. This helps in the guarantees of repayment process. This will put Iraq into an entirely new window of opportunity and thus not leading to a third-world like situation (which is the direction they are now moving to if they don’t take some action now). I know this may be hard for many of you to understand how a country can have so much wealth in all sectors and not just oil, and yet not be able to pay their govt employee salaries.
But read the articles today as they are telling you the solutions. It is no secret what Iraq is about to do.
More news….
THE 'WHITE PAPER' ON ECONOMIC REFORM PROMISED BY AL-KAZEMI COMPLETES
Today, Sunday, an informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed.
The source said to "People" (October 4, 2020) that "the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the House of Representatives."
He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."
Full article in in the below articles section.
More news….
The Parliamentary Finance Committee confirmed, today, Friday, that the current financial deficit in Iraq is temporary, indicating that the House of Representatives is ready to hold any emergency session in order to solve the current crisis and that immediate borrowing can be done and then the situation is remedied.
(Mnt Goat – this is only going to buy more time for September salaries and they know it. What about the coming months?)
More news….
BLOOMBERG: U.S. OPENS TRADE CASE TO PROBE VIETNAM CURRENCY UNDERVALUATION
(10/3/20)
The U.S. announced it’s opening a trade investigation into Vietnam’s currency policy to determine whether an undervalued dong hurts American businesses. The probe follows determinations in August by the U.S. Treasury and Commerce departments that Vietnam had manipulated its currency in a specific trade case involving tires.
(Mtn Goat – you know I do not favor this ridiculous GCR notion. But like I have been saying there is potential with the DONG for revalue but there is work to be done first and it is happening now with the Trump administration.)
More news….
SPECIALISTS REVEAL: THESE ARE THE REASONS FOR THE DOLLAR'S RAPID RISE AGAINST THE DINAR
The dollar has increased steadily and rapidly over the past three days, reaching 124,500,000 dinars in local markets from about 120,000 dinars per 100 dollars. Some exchange offices said the rise in the dollar was due to the recent unstable security situation and the threat of us closure of its embassy as a result of some rocket fire on the embassy building.
"The recent rise will not be significant and has not exceeded 3 percent and therefore remains within the internationally permitted limits," he said
More news….
THE CENTRAL BANK BEGINS IMPLEMENTING STEPS TO REFORM THE BANKING SECTOR
Today, Monday, the Central Bank of Iraq began implementing its first reform steps for the banking sector, as it finished classifying private commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of standards approved by this bank.
This step comes within the framework of enhancing confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.
This bank confirms that it had previously asked the lagging banks more than once to work on correcting their situation and paying their customers' dues. Therefore, this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders.
Finally, we announce that the next stage will include the process of "reforming government banks as well," noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. (56) of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued pursuant to them.
More news….
MINISTER OF FINANCE: $ 250 BILLION HAS BEEN STOLEN FROM IRAQ SINCE 2003
October 4, 2020 Walter
Minister of Finance Ali Abdul Amir Allawi
Economy News – Baghdad
Finance Minister Ali Allawi said that the ECONOMIC REFORM PAPER THAT WILL BE PRESENTED SOON includes the activation of the partnership law between the public and private sectors, explaining that $ 250 billion has been stolen from Iraq since 2003.
Allawi added, in a seminar organized at the headquarters of the guest house in the Green Zone, and I saw the Economy News on a video of the session published on the page of the Economic Reform Institute, that my vision includes making the private sector the main and pivotal engine in the economy, adding that the compass of the Iraqi economy must change towards free work. And not to rely on government sector work.
More news….
WARNING OF THE BANKRUPTCY OF IRAQ .. AN EXPERT SETS A FINAL CEILING FOR BORROWING FROM THE CENTRAL BANK
The economic expert, Abdul-Rahman Al-Mashhadani, held the Ministry of Finance fully responsible for the delay in salaries of employees, while the World Bank warned in a previous report that Iraq would go towards "bankruptcy."
Al-Mashhadani said in a press statement that "the last statement of the Finance Committee, which was issued in response to the Ministry of Finance, which demanded a vote on the borrowing law, came because there is no other means followed by finance, to finance operational budgets other than borrowing."
Al-Mashhadani pointed out that “the borrowing requested by the Finance Ministry is unreasonable, as it earlier demanded that it be loaned in order to meet the interests of the state until the end of 2020, but it is now returning and requesting the passage of the borrowing law, and this indicates that there is no plan at the Ministry of Finance to match the salaries of employees except resort To the internal debt ”.
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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
ON ITS FIRST ANNIVERSARY ... IRAQI DEMONSTRATORS RETURN TO AL-MAYADEEN AND 7 DEMANDS OF THE AL-KAZEMI GOVERNMENT
With the beginning of the second year of the start of the demonstrations in Iraq on the first of October of last year, 2019, in light of the mobilization and calls from the revolutionaries to rise again after stopping due to the Corona pandemic. Will the momentum return to the street again, despite the government's decisions and promises?
Observers believe that the second year of the Iraqi street uprising will be more momentous, and new classes and groups will join the demonstrators due to the deteriorating economic conditions, the increase in unemployment and the government's inability to pay salaries, that is, matters have become more suitable for demonstrations than last year.
CORRECT PATH
The Secretary of the Arab Tribes Union in Iraq, Thaer Al-Bayati, says that the resurgence of escalation by the demonstrators on the first anniversary of the Tishreen Revolution was expected, but this was clearly announced months ago, after its luster had diminished for many reasons.
He added to " Sputnik " that the peaceful approach that the revolution followed for a whole year exposed and exposed the nakedness of the political process, and the blood of the "martyrs" and the wounded that shed in the squares directed the Iraqis' compass towards salvation from their bitter reality in which most people live, and it created in them certainty that Everyone's blood is open to militia bullets and security forces guns.
The Secretary of the Tribal Union added, that the revolution revealed many false international slogans that praise human rights and hide behind its interests, and showed the hypocrisy of the United Nations and its representatives in Iraq, after they submitted false reports about the reality in the country, where all parties have proven that they are partners in the blood that is She asked throughout the country, indicating that the continuation of peace on the part of the demonstrators dropped all masks
Escalation is coming Al-Bayati emphasized that the next wave of the revolution at the beginning of its second year will build on what has been achieved and reaffirm unified demands, and the escalation is coming strongly to achieve the goals of the revolution, and I believe that it will continue this time and will not stop whatever the results of the conspirators from inside and outside the country. Iraqis voted in all Diaspora countries, and we are confident that the day of salvation has come on the horizon.
For his part, Iraqi political analyst Abdul Qadir al-Nayel said that the launch of the large demonstrations on the first anniversary of the October Revolution on the first day of October with this momentum, will and steadfastness over the demands against the political process and the power parties, and the rejection of sectarian quotas, and the confirmation of the rejection of militias, uncontrolled weapons and Iranian interference, confirms that the revolutionaries are determined On the sovereignty of Iraq, we are affirming that the constitution should be frozen, that the election law be individual in multiple districts, and that the winner of 50 + 1 is the one who qualifies to win and represents the people.
He added to "Sputnik":
"The ELECTION LAW MUST INCLUDE PREVENTING DUAL NATIONALITIES FROM RUNNING, the necessity for the return of 9 million displaced persons and immigrants to Iraq, and ENSURING THAT THEIR VOTES ARE NOT RIGGED, all of this will not be achieved in light of the current situation, which confirms that escalation is the choice that the demonstrators have made on the current and upcoming trip, In particular, the government authorities' failure to restrict weapons and protect the demonstrators from kidnapping and assassination. "
NEW PROTESTERS
Al-Nayel added, "The current government has not fulfilled its pledges to present the killers of the demonstrators, which the revolutionaries considered biasing the militias and concealing organized crime that the government and the power parties did not describe as terrorist crimes. Other data have been added that will increase the momentum of the revolution and escalation, as the economic situation plays an important role in The lives of peoples. Today, graduates are without jobs, employee salaries are late, and the economic collapse that has affected all the Iraqi people and has risen to 50%, in the absence of any government measures that reduce or reduce their damages or preserve their percentage he political analyst confirmed that new demands from victims of the economy, unemployment and non-payment of salaries will join the second wave of the evolution, which began with the beginning of this October, and their rise to the ranks of the revolution will be wider with the rise in the ceiling of the demonstrations, demands and escalatory activities that will surround the headquarters of the ruling authority and will be more influential On it, which will make it expand horizontally and vertically.
EXPECTATIONS TO COME
Al-Nayel expected that 25 October 2020 will be an important date in the escalation, especially since the families of the "martyrs" of the demonstrations and their clans, along with all Iraqis, will be present in all squares and squares in fulfillment of this pure blood that was a tax for their demand to restore the homeland.
It is noteworthy that hundreds of demonstrators commemorated in Tahrir Square, this evening, Thursday, the first anniversary of the start of the October protests .
And Tahrir Square issued a statement of urgent demands for the Al-Kazemi government, according to the Iraqi "Al-Baghdadiya" channel. This is his text:
In the name of the martyrs of freedom, the martyrs of the October Revolution and the free people everywhere in Iraq, the wounded and patient, against the injustice of the new tyrants everywhere today is the first anniversary of the October Revolution in which the youth of Iraq surprised the government of snipers and the world when the free Iraqis came out. Today the revolutionaries gathered across Iraq and agreed on their true conditions the following:
1- Holding the protesters' killers accountable, headed by the former head of the repressive authority, Adel Abdul-Mahdi, and the leaders of the sectors who carried out the killing orders.
2- Hold the previous commission accountable for cases of fraud, and the formation of a new independent commission made up of retired independent judges who are unblemished.
mending the election law to suit the people's aspirations.
4 - Activating the political parties law to ensure that no party that has an armed wing will participate in the elections, the political money is kept away, and a law is activated from where did you get this.
5 - Restricting weapons in the hands of the state and purifying the security services.
6 - a - The advisory councils formed by the government do not represent the October uprising with all its names and titles.
6- b- The parties that were formed taking advantage of the name of the October Uprising are illegal and have nothing to do with the uprising even if some of the weak-minded who had participated in the uprising belonged to it
7 - The release of the detainees and ensuring the abolition of the arbitrary rulings against the uprisings, the cessation of legal prosecutions, and the abolition of all consequences that the authority arranged against the uprisers to silence them.
Otherwise, we give the ruling authority a period until October 25, and our demand will be to bring down the regime.
*************************************************************
US MILITARY COMPANY WINS A CONTRACT WORTH MORE THAN $ 19 MILLION IN IRAQ
The American Lockheed Martin Company obtained a contract worth 19 million dollars from the Iraqi Ministry of Defense regarding the Iraqi CLS air defense system.
"The contract provides for support for the continuity of the air defense system to include specialized expert support, engineering support, return and repair and country evaluation visits," the US Department of Defense stated on its website.
He added that "the work will be carried out in Iraq and Syracuse in New York City, where the contract is expected to be completed on June 6, 2023."
It is noteworthy that the American Lockheed Martin Company is responsible for making the F-16 planes, which the company left after the withdrawal of its employees from Iraq, leaving the F-16 aircraft unable to fly due to the lack of equipment and spare tools in a clear process of pressure on the Iraqi government.
*************************************************************
GOVERNMENT FOUR IMPORTANT STEPS IN ORDER TO MOVE THE IRAQI ECONOMY AND MARKET FROM THE RECESSION
Mawazine News
The Parliamentary Work Committee proposed, on Thursday, to the
government four important steps in order to move the Iraqi economy and market from the recession in it.
Deputy Chairman of the Committee on Labor, Social Affairs,
Immigration and Displacement in Parliament, Hussein Arab, said, "The Iraqi market has been suffering from a recession since June of last year, adding to it the recession due to the Corona pandemic 10 times more than there is in the world."
Arabs added, "We propose four steps in order to move the economy, which is to attract local investment and move the cash mass that the citizens have, estimated at $ 30 billion, in addition to moving electronic cash and circulating internal cash."
The Vice-Chairman of the Committee continued, "It is an affair
The government includes those steps and supplying the market with them and assisting traders and the private sector, the ability to pull the market out of loss, by launching urgent and quick grants for the industrial and
agricultural private sector and moving the local investment market, as the foreign investor could not work in Iraq under the current circumstances.
Arabs explained that "the monetary mass in the homes of citizens is estimated at 30 billion dollars, and they refuse to deposit it in banks due to their lack of confidence in it, and that money should have been used to move the market by raising the interest rate (on deposits) in banks."
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A "GOLDEN PLAN" THAT GIVES IRAQ MORE THAN 16 TRILLION ANNUALLY, "PAYS SALARIES FOR TWO YEARS" ... AND DISCLOSES 23 ENTITIES "WHOSE IMPORTS ARE HIDDEN AND WASTED BUDGETS"
One of the female employees in the Rafidain Bank, called Victoria Zarzis, who is in the position of Deputy Director General in the Rafidain Bank / General Administration, sent a letter to the government containing important and serious details about the Iraqi financial map, and ways to obtain the lost Iraqi funds.
In her message, she said: Instead of borrowing and looking for confused, urgent and ill-considered solutions to solve the problem of the economic and financial crisis in Iraq and drowning Iraq in debts that have no way to escape from them, as long as the spoilers have fun in its institutions, so you must first correct the course of the financial policies of previous governments and the manipulation of their officials with the capabilities of the homeland and the state's revenues .
She added: The Iraqi Oil Ministry supplies its refineries with one million barrels of oil per day. This is what was mentioned by more than one official. Of course, this oil is refined inside the refineries, and a barrel of oil is converted into 100 liters of gasoline or 100 liters of kerosene that is supplied to gas stations, and it becomes as follows:
The 1,000,000 barrels of oil x 100 liters of gasoline or kerosene = 100,000,000 one hundred million liters of gasoline or kerosene.
One liter of very regular gasoline and kerosene is sold inside Iraq at 450 dinars.
So, the state's imports of petroleum products (benzene - kerosene) only daily:
100,000,000 liters x 450 dinars = 45,000,000,000 billion dinars per day.
And it comes monthly:
45,000,000,000 billion dinars x 30 days = 1,350,000,000,000 trillion dinars per month.
And it becomes annually from oil derivatives:
1,350,000,000,000 trillion dinars x 12 months =
16,200,000,000,000 trillion and two hundred billion dinars annually, Iraq's imports of petroleum products (gasoline and kerosene) only.
And she continued: Where does this huge, hidden amount of money go, which is ignored by all the ministers who succeeded in the ministries of oil and finance, the majority of representatives and officials, and all of them did not dare to open this issue at all!
And she added: This amount, O Prime Minister and Minister of Finance, is sufficient to pay the salaries of all Iraqi employees from first to tenth grade for a period of two years, so do you have the courage to be frank with us and tell us about this enormous amount where it goes ?, not to mention the revenues of gas, aircraft gasoline, white oil and black oil.
Not to you about the non-oil revenues that cover the salaries of employees for years and provide services to all cities, governorates, and state sectors?
Zarzis indicated the waste of money with several questions as well:
1. Where are the revenues of the General Tax Authority ?!
2. Where are the revenues of the Ministry of Communications and Mobile Networks ?!
3. Where are the revenues of the Communications and Internet Networks Commission ?!
4. Where are the revenues of the border crossings and customs departments at all ports ?! In our turn, we ask: Why open 24 border outlets in Kurdistan, of which one dinar has not entered the state, while it is closed in the center and south out of fear of the transmission of the Coronavirus epidemic ?!
5. Where are the revenues of Iraqi airports and airlines ?!
6. Where are the revenues of the Municipality of Baghdad ?!
7. Where are the revenues of the real estate registration departments throughout Iraq ?!
8. Where are the revenues of the public traffic departments ?!
9. Where are the revenues of the Ministry of Electricity ?!
10. Where are the revenues of the water and sewage departments throughout Iraq ?!
11. Where are the revenues of the Ministry of Health ?!
12. Where are the municipalities' revenues in all governorates of Iraq ?!
13. Where are the revenues of the Ministry of Agriculture ?!
14. Where are the revenues of the Ministry of Water Resources ?!
15. Where are the state real estate rents ?!
16. Where are the revenues of ships and vessels transporting oil ??
She showed: It is time for you to stop wasting Iraqi money in each of the following angles:
1. An auction for the sale of the currency at the Central Bank of Iraq; Iraq's annual losses from it are estimated at 4 billion dollars!
2. Two billion dollars lost annually in the commissions of the Ministry of Commerce!
3. The colossal budgets of the two endowments: the Shiite and the Sunni!
Zarzis concluded its message by saying:
What is important is that if these revenues were properly received by the state treasury, oil would have been a secondary resource for the Iraqi people and not a major resource.
*************************************************************
THE 'WHITE PAPER' ON ECONOMIC REFORM PROMISED BY AL-KAZEMI COMPLETES
Today, Sunday, an informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed.
The source said to "People" (October 4, 2020) that "the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the House of Representatives."
He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."
On Sunday, Finance Minister Ali Abdul Amir Allawi confirmed that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services.
Allawi said in a statement to the official agency, and "people" followed him (October 4, 2020), that "the budgets for the years 2021-2023 we have started working on them now, but they will not be the main ones, because the Ministry of Finance is currently unable to implement it in a complete way, but it may hinder it." For a year and a half so that we can move from the traditional budget-drawing method to the program budget. "
He added, "Tax revenues constitute a very small percentage of the state's resources, and it is not high if compared to any other country, because the tax structure is reasonable in Iraq."
He pointed out that "citizens will not respond to taxes, and they may have justification, because the state does not provide them with the necessary services, so the level of taxes must be linked to services and their quality."
He continued, "It is assumed that we get 8 trillion dinars from taxes, while we are currently getting less than one trillion, because there are large exemptions and exemptions."
He stated, "Iraq contains a kind of state seizure, as it is not necessary for this seizure to be by the parties, but it may be from all parties that have a stake and influence on the decision-making."
He stressed, "The need to subject the state to completely different professional controls and ways of working, and the solution must be a kind of separation between the legitimate and semi-legal requirements of political parties, according to the electoral results, because the balance is difficult, so that we have a completely independent government apparatus, which does not exist now." ".
Finance Minister Ali Abdul-Amir Allawi said that paying employees' salaries is a matter related to the House of Representatives voting on the borrowing law, stressing that this step will address the current deficit in the country.
Allawi added in a statement to the official agency, followed by "People" on Sunday (October 4, 2020), that "the salaries of retirees for the current month have been launched without any problem, pointing out that the salaries and allowances of employees will be launched during the next few days or weeks."
He added, "The amounts will be available if the House of Representatives approves the borrowing law," stressing that "the borrowing law is very important because it meets the financial needs of the state and addresses the deficit in the budget."
The Parliamentary Finance Committee confirmed, earlier Friday, that the fiscal deficit is a temporary condition in Iraq, but the Minister of Finance has the powers to take immediate action.
The committee's reporter, Representative Ahmed Al-Saffar, said in a statement to the official channel, followed by "People" (October 2, 2020), that "the current deficit is a temporary and embarrassing deficit for the government and parliament, because there is a slight deficit to finance the salaries of the month of September, which the government is late in paying." Noting that "in the event of waiting for the submission of the draft budget or the submission of a new loan law, the issue will be delayed by more than a week, 10 days, or maybe more, and this will lead to a lot of embarrassment."
He added that "according to the public finance literature, the Iraqi constitution, and the Financial Administration Law, if there is a slight deficit, the Minister of Finance has the powers to take immediate action," indicating that "there are two types of debt; real fixed debt which results from a significant decrease in real revenues versus expenditures." The public deficit is a permanent and permanent deficit and it is called the fixed debt, but the current deficit in Iraq is a temporary deficit, and the debt is called a debt remaining in the public finances and it is possible to put up temporary treasury bills that express the existence of revenue but it is a delayed income. Future. "
He continued, "Iraq does not have a financial crisis because it has resources, but the state and the government cannot access them, so the current deficit in Iraq is a temporary deficit, and the debt is a debt and the deficit can be paid in the future." The great embarrassment for the government is for the finance minister to move to offer bills and immediate borrowing from Iraqi banks or the central bank to pay salaries. Then the move will take place a week later when Parliament begins its sessions and the normal situation in Baghdad returns after the forty-day visit.
Al-Saffar pointed out that "the draft budget was delayed sending it to the House of Representatives, and there was only one night remaining in the Office of the Speaker of Parliament, and it was withdrawn by the government until the Finance Committee did not see it, and I do not know the reasons behind the withdrawal of the project, and this embarrassment to the House of Representatives by the Ministry of Finance is absolutely unacceptable because The mistake and imbalance is the lack of monetary and financial policies in Iraq. All that exists is that they are waiting for debts and financing the operating budget. "
Al-Saffar stressed that "the parliament is ready to hold any emergency session in order to solve the current crisis. It is possible to borrow immediately and then remedy the situation after a while because it is not correct that the employee waits for days without a salary and this is his only source of income."
He pointed out that "there are two solutions; either submitting the draft budget as soon as possible until it is approved, or resorting to new borrowing if the government is able to obtain Parliament's approval because the issue of debt in Iraq has become in a very dangerous range and leads the Iraqi economy to the unknown."
*************************************************************
MINISTER OF FINANCE: $ 250 BILLION HAS BEEN STOLEN FROM IRAQ SINCE 2003
October 4, 2020 Walter
Minister of Finance Ali Abdul Amir Allawi
Economy News – Baghdad
Finance Minister Ali Allawi said that the ECONOMIC REFORM PAPER THAT WILL BE PRESENTED SOON includes the activation of the partnership law between the public and private sectors, explaining that $ 250 billion has been stolen from Iraq since 2003.
Allawi added, in a seminar organized at the headquarters of the guest house in the Green Zone, and I saw the Economy News on a video of the session published on the page of the Economic Reform Institute, that my vision includes making the private sector the main and pivotal engine in the economy, adding that the compass of the Iraqi economy must change towards free work. And not to rely on government sector work.
He stressed that the private sector should benefit from the Iraqi market as well as the Arab and international markets, explaining that the state’s resources management must be in partnership with the private sector and gradually because the public sector currently provides very weak services.
He noted that the agricultural sector in Iraq is subsidized by the state at an amount of 6 trillion dinars, pointing out that the tax sector in Iraq is very weak, and the citizen has the right to not pay taxes in exchange for weak services provided by the public sector.
He noted that Iraq’s revenues from the border outlets are less than 1% due to the large exceptions and exemptions granted.
He explained that the main decisions that affect the economy are mostly politicized, and started to increase and not decrease, and this issue has been inherited since 2003, and most of these decisions are related to the economic relations of the parties with the parties that can help them.
He indicated that 250 BILLION DOLLARS WERE STOLEN FROM IRAQ SINCE 2003 and until now, and this amount is built by several countries, explaining that spending this money was not an economic goal, but rather a financial benefit for some parties, which led to a decline in the state’s capabilities, pointing to changing this matter not overnight .
He stressed that Iraq imports from Iran electricity and gas annually at an amount of 4 trillion dinars, but the Ministry of Electricity is unable to pay these funds from the collection, explaining that 30% of Iraq’s imports pass through the northern ports and tax revenues are not subject to the control of the center.
(Mnt Goat – we know for FACT that over 1 trillion US dollars has been stolen since 2003 from the Iraqi people. Enough to rebuild Iraq 10 times over. So this article is being nice but not accurate. How do I know this for FACT? They have told us this years ago so this number is now ever higher than 1 trillion $. Again I tell you that you must remember the past when you read current articles as they will lie and deceive you.)
*************************************************************
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 is working in the battle against the corruption of Iran in Iraq, the corruption of the democrat party in the USA and the corruption of the labor party in the UK. Yes your prayers are working. God has guided these patriotic men and women on this new battle field. It is a battel for the mind filled with propaganda and lies. He has guided the honest, patriots of Iraq, the USA and the UK to fight for their homeland.
So, this new war now on our citizens is underway. 3 corrupt countries, 3 heroic men and 3 miracles. God’s Hand At Work!
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. It is a battle against this crooked idealism of globalization and a One World Government of enslavement.
We must keep praying for the end to the rapid corruption and enslavement of people. 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. That they may listen to the Holy Spirit for guidance in fighting this war on us.
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 or politics 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”
P.S. (Please if you can – say the rosary every day. You can do it while you take your daily run or walk. You can do while you lie in bed in the morning or nighttime before sleep. You don’t even need a set of rosary beads as you can use your ten fingers ...lol..lol..lol… )
Auf Wiedersehen
Much love to ya all,
Mnt Goat
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