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Mnt Goat Wants Your Money...And News Brief 12/8/20 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat Wants Your Money...And News Brief 12/8/20

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Mnt Goat Wants Your Money...And News Brief 12/8/20 Empty Mnt Goat Wants Your Money...And News Brief 12/8/20

Post by RamblerNash Wed Dec 09, 2020 11:31 pm

Hi Everyone,

I bring you much news today.  

GIVE A GIFT TO MNT GOAT

I decided to allow everyone to give a Free-will GIFT to Mnt Goat on PayPal if you so desire. Here is the link below.

https:// paypal.me/ MntGoatNewsletter?locale.x=en_US

As usual, remember that for over 7 years, I have taken my own time from my gasthaus business to research and document findings about the revaluation of the Iraqi dinar. Please be generous but only if you can afford it and remember to give. I suggest $5-$10 a month but you decide. Whatever you can afford will be helpful in this time of Covid where nearly 50% of our business is now gone due to travel restrictions.

I hardly have the words to thank everyone who is supporting my newsletter efforts with all your ongoing gifts. Thank You, Thank You and Thank You again. This has made a huge difference in our lives.

More news….

Okay…. So everyone reading this newsletter today should be VERY HAPPY! Let me explain what I mean by Happy. Just about all the major news coming from Iraq in the last two weeks is about the currency. Yes, currency, currency and more currency reforms. Yes, this week it’s all about the currency again… WOW!!

So ask you -  has Iraq decided what to do to get them through the financial crisis?

To answer this question let us first look at the FACTS. We must stick to the FACTS to keep us straight on what is going on. No conjecture, rumors or lies. So what are these FACTS?

First, I have proof that the salaries have NOT been paid for October thru November and they don’t know how to pay them for December either. I mentioned before and showed you articles that once they got through paying in September they were done without some major financial restructuring. Part of this restructuring includes currency reform. Second, we read in articles that Iraq could no longer obtain outside loans. They exhausted the internal loans from their banks to pay the salaries for August and September. So then all of a sudden, we get articles telling us the IMF is willing to loan money to Iraq. Does this seems kind of weird to you or what?

Also, at about the same time the IMF says they will now loan money to Iraq they come out with a statement telling the public that Iraq will go 1:1 with the dinar  before the end of the year. Okay so they are finally opening up ad educating the public. Like I said this is not a secret and they can’t hide it. They must tell the public.

Once again, I was correct in the process I told you as to what we should expect for December before they go live with the reinstatement of the Iraq dinar on FOREX in January. That is January of 2021. We had to wade through yet another entire of guru intel bullshit to get where we are once again. Yes, Mnt Goat is correct once again and there are no shortcuts to the process the CBI is taking. I told everyone that if January 2020 rolls around and they did not reinstate it was going to be yet another year of waiting. So here we are. Any questions? Let us see if they follow through this time or will we wait yet another year. I don’t think so.

But today I come to you to tell you that I am now told by the CBI that they  “fully” expect to complete the “project to delete the zeros” before Christmas on December 25th. They also told me the denominations they plan to roll out are 1,5,10 and 25 notes. The coins come a little late.

This did not surprise me as I have been telling you all along these lower denominations are just going to be of the same as the old three zero notes just delete the zeros and match them up….easy… Example: 25,000 becomes 25. A 10,000 becomes 10, a 5,000 becomes 5 and 1,000 become 1. But the 1,000 dinar note will also stay in circulation after the fact but the others will be for inner-banking use only. Just delete the zeros, get it?

What about the value?

Well we all know the value is way beyond what the program rate is. The CBI knows it too. So, let’s talk rate instead. If the rate of a 25,000 note was about $23 today then it will be $23 for the 25 note. No change in value. Get it? Easy! It is just the mind set in the Iraqi people that worries the CBI. How will they mentally deal with going back to the lower denominations. Remember they had lower denominations prior to the 2003 war. These larger three zero notes were only meant to be temporary and so it is time to convert back…finally….!

Once this is done then the CBI will watch for inflation for about a week and then pull the trigger on the reinstatement and FLOAT the dinar on FOREX if all goes according to plan. The rate in the US on FOREX will be gauged on the new rate of the dinar according to the new basket it is assigned to. It will get off the “de-facto” peg strictly to the US dollar as it is today. This is what many of these gurus cannot figure out as to how the rate can rise so much once it’s on FOREX when it’s only about $1 in Iraq just before. They keep telling you they will reinstate the program rate and let it float over time to get higher and higher. They say it might take a year or two to get higher. Really? This is of course, totally ridiculous and stupid. They only say it because they don’t know the entire process and do not want to listen to it even when you tell it to them. However, this is NOT going to be the case. Get it? Any questions?

So, they are following the process I outlined years and years ago to you. Remember?  Yes, years ago! Get it?  So, we did not need this stupid, ridiculous everyday / any day RV bullshit from this idiot gurus over these years. How many times over this last year did these jurk-offs like Bruce or TNT Tony tell everyone it was going to RV or had RV’d already in Iraq. They even told us one time it Rv’d already in Iraq at $9. Remember that crap? Of course we all just laughed at such nonsense…didn’t we, didn’t you? I surely hope so…lol..lol..lol…

So, the CBI will NOT deviate from the process. This is the process as outlined by Dr. Shabibi in 2011. Remember? The only variable is what happens if they do find inflation is taking off in Iraq. This may delay the reinstatement a bit. This could cause problems. But we wait and watch is all we can do.

Also, I want to reiterate that the TRUTH soon will be coming out as to who is right and who is wrong all these years about all these other exotic currencies many of you have been wasting you money on under the impression for some stupid idea of a “GCR”. Yes, the day of reckoning is coming… lol..  lol..  lol… We shall see just who was lying and who was telling the TRUTH on this topic too…  lol..  lol..  lol..   Oh – and what about the 800#s…. more lying and more bullshit. Don’t hold your breath. When this pops get your “butt” to the bank and exchange.

More news….

ABOUT THE ELECTION FRAUD

We are seeing former NYC mayor Rudy Giuliano’s teams hold hearings from swing state after swing state in exposing massive vote fraud.  Yes, Rudy did test positive for COVID but we all know how that goes. The news media is like vultures who swing down now to say “I told you so” just to once again reinforce the FEAR mongering and keep the COVID alive. That is all it is. I only hope that many of you have done  you own research and now know the TRUTH about this COVID “planned-demic” and how it was designed to use it as a political weapon by the Chinese.

There is more than enough evidence to overturn these FAKE election results and God is going to work another miracle in the coming days. Just sit tight and watch it all play out. In fact in these next couple weeks you are going to see God’s Handy work and it is going to shock you. Just pray, pray and pray more. Have faith in the divine and never give up you hope and love of God and in God. Those of you who are not believers should get ready for the shock and if you, don’t then follow God and pray, I will give up on you. There is no hope for you!

As usual I will post my weekly update FB video set on the ongoing saga of the election fraud. This is moving so fast it is hard to keep up but I will try.

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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

PARLIAMENTARY FINANCE ISSUES A PACKAGE OF REFORMS THAT INCLUDES IMPOSING A VALUE-ADDED TAX AND REVIEWING THE DOLLAR EXCHANGE RATE

Economy News – Baghdad: The Parliamentary Finance Committee issued proposals to address the financial crisis in Iraq, which included reviewing the exchange rate of the dollar against the dinar, establishing a national telecommunications company and imposing a value-added tax.

The reforms presented by Parliamentary Finance included, from three axes, the first entitled Maximizing Revenues and Rationalizing Expenditures and included the immediate activation of compulsory collection of services provided to government, commercial, industrial, agricultural and household institutions, such as electricity, water, sewage, landlines and their deduction from grants and salaries, in addition to reviewing crude oil prices The provider of the refineries, and the unutilized government assets such as real estate and land flow through selling them by public auction, imposing a value-added tax of 12%, and obligating all institutions to send the Ministry of Finance’s share of the total revenues up to date.

It also included stopping the work of embassies and attachés in countries where Iraq does not have any diplomatic, commercial or cultural exchange, negotiating to postpone the dues of oil companies or paying them in kind outside the OPEC quota, and allowing the export of gravel and sand and the investment of mineral resources such as phosphates, sulfur and uranium.

On taxes, it included the formulation of the tax withholding ladder by supporting the low-income segments by raising the minimum tax level, adjusting the tax price of the people concerned to a price close to the price of neighboring countries, and imposing annual taxes on all cars according to their type.

As for the second axis related to reforming the financial and monetary policies, it included the imposition of comprehensive insurance on cars, expatriates, cars, fuel stations, imported materials, companies, crude oil, building permits, residential units, etc. Rationing, medicines, water stations, and the educational and educational process only.

The reform paper also focused on the Ministry of Finance, in coordination with the Central Bank, to issue an electronic dinar for the purpose of collecting government revenues and deserved tags, reviewing the exchange rate against the dollar, deleting zeros, freeing banks from the hands of the Ministry of Finance and forming an independent financial body that includes banks, money transfer companies and insurance companies, and reducing The interest rate on investment projects.

As for the third axis, it includes restructuring public and losing companies, establishing a national telecommunications company, and presenting disabled government factories and factories to the private sector. Click here to download the 12-page reforms launched by Parliament.

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NEGOTIATIONS BETWEEN IRAQ AND THE "INTERNATIONAL MONETARY" TO DETERMINE THE EXCHANGE RATE OF THE DINAR

The Finance Committee in the House of Representatives revealed that ONE OF THE REASONS FOR THE DELAY IN SENDING THE BUDGET TO PARLIAMENT IS DUE TO NEGOTIATIONS BETWEEN THE MINISTRY OF FINANCE AND THE INTERNATIONAL MONETARY FUND, TO DETERMINE THE EXCHANGE RATE OF THE IRAQI DINAR ..

The committee revealed that there are opinions to reduce the exchange rate of the Iraqi dinar against the dollar, indicating that this measure will lead to inflation and negatively affect those with limited income who depend on their salaries ..

The committee's rapporteur, Ahmed Al-Saffar, expressed his hope that the BUDGET BILL WILL ARRIVE IN PARLIAMENT AT THE END OF THIS WEEK, or early next week, with a deficit ranging between 40 to 50 percent of the size of public spending. The committee revealed that there are "job degrees" in the draft law to be awarded to those who deserve it.

(Mnt Goat – Will the IMF approve the reinstatement & float option suggested? This is what the IMF wanted all along.)

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AL-SAMARRAI CALLS FOR THE RESTRUCTURING OF THE CENTRAL BANK

Former House Speaker Iyad al-Samarrai called for the restructuring of the central bank IN LINE WITH THE STRUCTURES OF INTERNATIONAL CENTRAL BANKS, WITH THE UNIFICATION OF THE EXCHANGE RATE IN ALL BANKS.

“The exchange rate is very important, and any major change in the exchange rate and the float will be a disaster for the economy and its consequences will be complex and the economy will not recover for decades, an example of this is what happened in Jordan, Egypt and many other countries,” Al-Samarrai said in an article.

He pointed out that “gradual change is very important if it is necessary, as the local currency and its stability are among the most important tributaries of the economy’s strength.”

He stressed that “first the central bank must be reconfigured in line with the structures of global central banks and have a committee of experts who do not interfere in executive matters only, specializing in setting and monitoring policies, and is not subject to the government and does not interfere in its policies.”

He also stressed that “the exchange rate must be the same in the banks, as for the black market and the cancellation of exchange companies specialized in taking hard currency from the central bank and selling it in the market and the resulting great corruption.”

He called for the price to be the same in the bank and at the cashier, “taking into account the sale and purchase commission, CANCELING THE AUCTION OF SELLING THE CURRENCY AND MAKING IT AVAILABLE TO ALL BANKS AND EXCHANGE COMPANIES AND FOR LEGITIMATE DEALINGS OF IMPORT AND EXPORT AND THE NEEDS OF CITIZENS, and it is not a reason for smuggling money, especially the money of corrupt deals.”

(Mnt Goat - Former House Speaker Iyad al-Samarrai called for the restructuring of the central bank IN LINE WITH THE STRUCTURES OF INTERNATIONAL CENTRAL BANKS. So this would mean a FLOAT but then he argues a FLOAT would be bad. Can’t have it both ways. Iraq MUST float the dinar on a global trading exchange like FOREX, etc, etc. What is it that he is missing? So I will tell you. He is missing nothing but we as outsiders don’t understand when economists and al-Samarrai talk about a FLOAT. What they mean is not floating on FOREX but floating the program rate. Note how he does not talk about reinstating the dinar. So a float when the dinar is reinstated does not get talked about much these days.)

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From late November, is case you forgot!

AL-DARRAJI DEMANDS THE CENTRAL BANK TO ADOPT A REAL RATE OF THE IRAQI DINAR

Al-Mustaqilla .. MP Muhammad Sahib Al-Darraji called on the Central BANK TO ADOPT THE REAL PRICE OF THE IRAQI DINAR, AWAY FROM THE PRICES OFFERED IN THE CURRENCY AUCTION.

Al-Darraji said in a tweet on his Twitter page, Tuesday, “The central bank must adopt a real price for the dinar, away from breaches of the window of selling the notorious currency.”

He also called for “disclosing bills and documentary credits provided by banks in exchange for transferring hard currency abroad and checking their credibility.”

Al-Darraji stressed that the bank’s failure to do so is that it “is considered an accomplice in the crime and we will have to resort to legal methods to remedy this defect.”

The window of selling the currency in the central bank faces many criticisms, while leaks stated that a number of banks acquire the amounts that are being traded in the currency auction for the purpose of increasing their profits.

(Mnt Goat – I didn’t want to forget about articles like this one. There are many politicians and CBI experts who want the dinar to reinstate on a float and them let the market determine the TRUE VALUE and many that don’t want it to happen (we know they are corrupt). )

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THE HEAD OF "ARAB BANKS" DECLARES HIS SUPPORT FOR THE REFORM EFFORTS OF THE CENTRAL BANK OF IRA

Wissam Fattouh, Secretary-General of the Union of Arab Banks, made a phone call with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, during which they reviewed the efforts of the Central Bank of Iraq in the framework of banking reform in the country. 

Fattouh expressed his appreciation for these efforts aimed at enhancing the strength of the Iraqi banking sector and its ABILITY TO SECURE BANKING SERVICES IN ACCORDANCE WITH THE HIGHEST INTERNATIONAL STANDARDS.

The two sides reviewed aspects of joint cooperation on several levels, as the Governor of the Central Bank of Iraq clarified the reform plan that is mainly based on activating the supervisory approach, increasing confidence in the Iraqi banking sector with the aim of empowering the sector and enhancing its development and economic role, and working to build relations with banks and international financial institutions.

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IRAQI MONEY IS LEAKING ABROAD ... THE CITIZEN DOES NOT TRUST LOCAL BANKS ... CORRUPTION POINTS PREFER FUNDS IN NEIGHBORING COUNTRIES

Businessmen in Iraq suffer from weak banking systems, which leads them to resort to banks in neighboring countries in their .international commercial dealings, while many citizens do not trust them and save their money in their homes .And economic expert Abbas Anid Ghanem says that the Iraqi banking systems are now far from international standards, according to France Press According to Ghanem, the problems go back decades, and specifically to the 1990s, when sanctions imposed on Saddam Hussein's regime isolated Iraq from the world.

And after the entry of the US-led coalition forces in the country in 2003, the widespread looting led to the emptying of liquidity of banks of more than 70 banks have been established since then, but the sector as a whole has not developed, and the World Bank reported in 2018 that the three largest banks, namely Rafidain, Rasheed and Al-Iraqiya for state-owned trade, account for about 90 percent of the sector's assets.

On the other hand, financial experts explain to the obelisk that the personalities and parties involved in corruption prefer assets in neighboring countries, and in this way billions of dollars fled Iraq in the year 2003, where the plunderer of Iraqi money prefers to invest abroad rather than domestically, thus Iraq lost its public money and investment opportunities on both.

No facilities

The three public banks mainly pay the salaries of eight million Iraqi employees, but the state was forced to borrow from them following the collapse in oil prices this year, which raised its domestic debt For the director of the Al-Akhyyar Contracting Group, Adel Al-Salhi, THE PROBLEM WITH PUBLIC BANKS IS THAT THEY ARE SATISFIED WITH LOANS TO THE STATE AND PAY THE SALARIES OF EMPLOYEES AND ARE NOT INTERESTED IN DEALING WITH THE TRADE SECTOR AND SUPPORTING BUSINESSMEN.

This applies especially to the Rafidain and Rasheed banks, and to a lesser extent to the Iraqi Trade Bank, which was established by the US Coalition Provisional Authority under the supervision of the civil administrator Paul Bremer in 2003, but Ghanem clarifies THAT SECTARIAN AND PARTISAN QUOTAS IN THE POLITICAL SYSTEM AND ADMINISTRATIVE AND FINANCIAL CORRUPTION ARE MATTERS THAT AFFECTED THIS BANKING INSTITUTION, WHICH LIMITED ITS ROLE.

Almost in government lending although the Iraqi Trade Bank is the only one that enables merchants to open credits, IT DOES NOT PROVIDE ANY BANKING FACILITIES TO BUSINESSMEN, and asks them for guarantees with a very high value of up to 110 percent to provide a letter of guarantee only, according to Al-Salhi.

This prompted the group of good guys for contracting to resort to banking services outside the country, like many companies that have come to rely on banks in Jordan, Turkey, Lebanon or even Iran to facilitate their dealings. The issue is not only about financial facilities, but also, according to Al-Salhi, about transparency in transactions and the provision of special employees from within banks according to the evaluation and work of the trader, unlike Iraqi banks that deal with us as employees in a dry manner.

According to the World Bank, LESS THAN 5 PERCENT OF SMALL AND MEDIUM-SIZED ENTERPRISES OBTAINED LOANS FROM LOCAL IRAQI BANKS, while most merchants .and investors resorted to borrowing from family and friends Ghanem attributed this to the high value of interest that banks take, especially in investment projects, as it ranged between seven to ten percent, while most of the world's advanced banks do not reach more than one percent Iraq was ranked 172 out of 190 countries ranked in the World Bank’s Ease of Doing Business Index report, just ahead of Afghanistan and war-torn Syria, .despite it being the second crude producer in OPEC.

Funds in homes

The problems of the Iraqi banking sector do not stop at the companies, as its services are not well received by citizens either World Bank figures INDICATE THAT ONLY 23 PERCENT OF IRAQI FAMILIES HAVE AN ACCOUNT WITH A FINANCIAL INSTITUTION, which is one of the lowest in the Arab world, and those account holders are especially state employees whose salaries are distributed to public banks at the end of each month. But SALARIES DO NOT REMAIN LONG IN THE ACCOUNTS, AS SOON QUEUES FORM IN FRONT OF BANKS OF EMPLOYEES WHO WITHDRAW THEIR SALARIES IN CASH AND PREFER TO KEEP THEM IN THEIR HOMES, because of the weak confidence of Iraqis in banks.

MEMORIES OF THE LOOTING AND THEFT OF BANKS DURING THE 2003 INVASION ARE STILL FRESH IN THEIR MINDS, AND MANY LOST THEIR SAVINGS Nabil Kadhim was one of the victims, telling France Press that after the bank robbery, I had great difficulty in retrieving my money, and that only happened after years when I lost confidence in the banks. IN ADDITION, KADHIM ATTRIBUTES HIS RELUCTANCE TO KEEP HIS MONEY IN THE BANK TO THE LACK OF ELECTRONIC AND ONLINE PAYMENT MECHANISMS. Cards in buying and selling transactions, especially in large amounts Kazem prefers to resort to the services of exchange offices or private banks to obtain financial transfers from abroad because they are better and faster than government banks, but even more secure than them.

The economic expert, Abbas Anid Ghanem, EXPLAINS THAT IRAQI BANKS DO NOT ALLOW DEPOSITING IN DOLLARS FOR SAVINGS PURPOSES, and this causes a great loss of hard currency. This also reveals the lack of confidence in the local currency, as many citizens CONVERT THEIR SAVINGS AND MONEY INTO DOLLARS AND HOARD THEM IN HOMES Ghanem points out that there is a paradox between official rhetoric and reality. The state appeals to citizens to deposit their savings in banks, while it does not amend the laws of these banks and does not provide them with any basic services.

(Mnt Goat – so this article is telling us the citizens withdraw their paychecks from the banks and then convert it to US dollars via street venders. Where is the problem here? It is the hoarding to the availability of street exchangers? Also this confirms that there is not much hoarding of Iraqi dinars but rather US Dollars, just as I have been saying all along. This makes it much easier to do the “project to delete the zeros”.

Also this article is telling us that all the banking reforms are NOT yet in place and there is lots of work to do. So when we hear about financial reforms we should think about this instead of just thinking they mean currency reform. Slow down all the hype!)

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A DEPUTY RAISES THE ALARM: THE EXCHANGE RATE OF 100 DOLLARS MAY TOUCH 500 THOUSAND DINARS

Member of Parliament Kazem Al-Sayyadi warned, on Friday (4 December 2020), that continuing the borrowing policy may raise the dollar exchange rate four times.

The Central Bank set the price of selling the dollar to bank accounts abroad at 1190 dinars per dollar, and the cash sale price at 1190 dinars per dollar, while the price of selling the dollar on the market yesterday (December 3, 2020), reached 125,750, and buying 124,750.

Al-Sayyadi said in an interview with the "Al-Marazaz" program broadcast by Al-Ittijah channel, that "in the event that the borrowing policy continues and all financial assets inside the Central Bank are taken from the proceeds, the hundred dollars will become 500 thousand dinars."

In his speech, Al-Sayyadi called for "not to borrow and rely on other resources" to finance the fiscal deficit.

On Sunday (November 22, 2020), a member of the Parliamentary Finance Committee, Ahmed Mazhar al-Jubouri, said that parliament did not vote on a budget that includes a new borrowing clause that “will not serve the country's future reality,” stressing the need for the government to be aware that the continuity of borrowing is evidence of failure in state management. Financial. "

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, Tuesday (December 1, 2020), that “the stability of the Iraqi dinar exchange represents the stability of the external value of the national currency, and then the stability of the standard of living, and defending the stability of the exchange rate is one of the most important duties of the Central Bank of Iraq in Achieving its goals of building stability as a climate for economic growth.

(Mnt Goat – that would be a program rate of 5000 dinars per 1 dollar. IMF & the CBI is NOT going to let this happen. Take an 1/8 of a penny for a dinar that it is today and cut it in half.)

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PARLIAMENT ANNOUNCES THE DEADLINE FOR THE MEETING TO DECIDE THE FATE OF ARTICLE 140

On Saturday, the Constitutional Amendments Committee announced its intention to discuss Article 140 of the Constitution and other articles on Sunday.

The Media Department of the House of Representatives stated, in a statement received by Al-Ahed News, that the “Constitutional Amendments Committee will hold its final meeting on discussing the constitutional article 140 and other materials in the presence of the committee’s members tomorrow, Sunday, in the special room of the Parliament Speaker’s office in the Parliament building.”

He added, “The Regions and Governorates Committee that is not organized in a region will host the governors of all governorates that are not organized in a region, and with the participation of the Finance Committee and the Services and Construction Committee to discuss the budget for each governorate for the year 2021, investment projects and development projects for the regions and continuing and new governorates, and the departments that have been linked to the governorates according to what The provisions of Article (45) amended pursuant to Law No. (10) of 2018 the third amendment to the Law of Governorates not organized in a region No. (21) for the year 2008, in addition to a general discussion regarding the problems of each governorate, tomorrow in the building of the Council of Representatives. ” 

And, "The Labor, Social Affairs, Immigration and Displacement Committee will also host the Palestinian ambassador to discuss the foreigners law."

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PARLIAMENTARY INTEGRITY: AN IRAQI FIGURE WHO ACQUIRES 45% OF THE DOLLARS SOLD IN THE CURRENCY AUCTION THROUGH 3 BANKS

The Parliamentary Council of Integrity revealed, on Saturday, that an Iraqi person controlled the sale of the dollar and its rise in the Iraqi markets, after its acquisition of 45% of the total amount sold of the dollar in the currency auction.

A member of the Parliamentary Integrity Committee, Khaled Al-Jushami, said to / the information / that approximately 78 Iraqi banks are entering the auction for the sale of work put forward by the Central Bank of Iraq.

He added that "45% of the total dollar sold in the auction goes to three banks owned by one person, and 55% goes to the rest of the banks," noting that "this character (which he refused to disclose) controls the exchange rates of the dollar in the Iraqi market."

"This character is behind the survival of the price of the dollar, which is sold in the Iraqi market at 125 thousand and 500 dinars for the paper, denominated in 100 dollars, although it was sold at a currency auction at 119 thousand dinars," Al-Jushami said.

Economists stressed the need to control the daily auction of currency sale in the Central Bank, whose sales amount to approximately $ 250 million per day.

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IL “DISTURBS” IRAQ’S 2021 BUDGET: AN EXPECTED UPDATE OF THE “DINAR EXCHANGE RATE” AND AMENDING THE NUMBERS TO “REDUCE THE FINANCIAL DEFICIT!”

The Parliamentary Finance Committee informed the Presidency of the House of Representatives, today, Sunday, that it will hold continuous meetings as soon as the General Budget Law arrives in Parliament for discussion and approval as soon as possible. It is likely that the 2021 budget will be approved at the end of this December.

“The government has postponed sending the budget to the House of Representatives so far due to the high oil prices in the global market, which requires reformulating the numbers in the budget sections to reduce the financial deficit ceiling and increase revenues,” the committee’s reporter, Ahmad Al-Saffar, said.

He explained that “the cabinet will meet next Tuesday and may approve the budget then or hold a special session to discuss and approve the budget next Wednesday, which means that the budget will reach the Presidency of Parliament early next week.”

He added, “The draft budget is still up to the General Secretariat of the Council of Ministers to audit it in coordination with a special committee from the Ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year,” indicating that, “according to government estimates that we have informed about the price of a barrel of oil.” In the general budget it will be between 42 – 43 dollars.

The official spokesman for the Council of Ministers, Minister of Culture, Hassan Nazim, announced last week that the Council of Ministers decided to postpone its session devoted to discussing the draft Federal Budget Law 2021, until yesterday, Saturday, as it has not yet been held.

Expectations of the next deficit?

And on that, today, Sunday, a Foundation for Studies, the Iraqi government’s monthly expenditures exceeded the 6 trillion dinars barrier for the month of October, surpassing the general average for the year of 5.7 trillion Iraqi dinars.

The Future Iraq Foundation for Economic Studies and Consultations said in a statement that operating expenses for salaries rose to reach 3.45 trillion dinars, surpassing the general average for salaries of 3.34, an increase of 3.45%.

The statement pointed out that the expenditures for social care increased by 19% compared to the annual general rate to reach 1.5 trillion dinars, indicating that “the total expenditures of the Iraqi government have increased by 5.85% from the annual rate to reach 6.12 trillion dinars,” noting that “the general rate was 5.7 trillion dinars.

The statement added that “at the level of imports, imports achieved an increase of 8% compared to the general rate of imports, and despite the decrease in oil revenues by 10% from the general average, a significant increase of 175% in non-oil revenues, as non-oil revenues amounted to 1.186 trillion dinars. It is higher than the general average of 431 billion dinars, and thus the total revenues for the month of October (last) will be 4.652 trillion dinars.

He pointed out that “despite the increase in revenues, the government recorded a real deficit of 1.5 trillion dinars, and thus the total cumulative deficit of the Iraqi state for the year 2020 has reached 15 trillion dinars.”

The institution expected; That “the deficit until the end of the year exceeds more than 29 trillion dinars as a result of the need for the government to pay debts dues at the end of the year in addition to paying the amounts of oil licensing companies, which are expected to be worth more than 13 trillion dinars,” according to the statement.

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WHAT DO THE CONSTITUTIONAL AMENDMENTS INCLUDE? IS ARTICLE 140 STILL A MATTER OF DISPUTE?

Final touches on the proposed constitutional amendments are still far-fetched, especially with no agreement on the form of the political system, whether to turn it into presidential or semi-presidential, or whether to keep it in parliament. As well as determining the largest bloc, and the powers of the region and the provinces, in addition to what was proposed by the last meeting of the Parliamentary Committee, about Article one hundred and forty.

The final report on the constitutional amendments, it is hoped that it will be submitted to the Presidency of Parliament during the next week, in order to present it after that to the House of Representatives for a vote.

The AMENDMENTS WILL INCLUDE MORE THAN FIFTY CONSTITUTIONAL ARTICLES, according to parliamentarians, but they ruled out resolving this file before the early elections that are scheduled to take place next June.

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PARLIAMENTARY FINANCE COMMENTS ON THE RISE OF THE DOLLAR AND THE POSSIBILITY OF ITS FLOAT

The Parliamentary Finance Committee commented on the recent rise in the exchange rate of the dollar against the dinar in Iraq.

The exchange rate on the Al-Kifah Central Stock Exchange in Baghdad is currently 1270 dinars to the dollar.

"We do not know what are the reasons for the high exchange rate of the dollar or the government's intention to raise the exchange rate of the dollar to 1,300 dinars, and this news remains unconfirmed to us, but it is certain that the increase in demand for it raises the price," said committee member Ahmed Hajj Rasheed.

HE RULED OUT "THE POSSIBILITY OF TAKING ACTION TO FLOAT THE DOLLAR IN IRAQ."

(Mnt Goat – Once again I am telling you that when they talk about a FLOAT they are NOT talking about a float in-country program rate. The FLOAT they are going to do is a FLOAT once on the global currency exchanges. Are you listening to me? So today more proof the Mnt Goat it correct once again. Read the next paragraph. It is talking about the reinstatment and then the float.)

It is noteworthy that what is meant by floating the currency (the dollar or other) is to make the exchange rate of this currency fully liberalized, so that the government or the central bank does not interfere in determining it directly, but rather it is automatically secreted into the currency market through the supply and demand mechanism that allows setting a price Exchange of the national currency against foreign currencies.

The owners of banking offices attributed the high exchange rate of the dollar in Iraq recently to the increase in demand for it by citizens and merchants alike, with news of the Ministry of Finance's intention to raise the exchange rate of the dollar to 1300 dinars.

It is noteworthy that the reporter of the Finance Committee, Ahmed Al-Saffar, revealed to {Al-Furat News} the day before yesterday, Sunday, that "one of the reasons for the government's delay in sending the draft fiscal budget for 2021 is the existence of understandings between the Ministry of Finance and the International Monetary Fund to UPDATE THE EXCHANGE RATE OF THE IRAQI DINAR" USUALLY IT "A SENSITIVE ISSUE IT MUST BE UPDATED IN A WAY THAT DOES NOT CAUSE INFLATION.

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

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 battle 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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