Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Mnt Goat News Brief - (Guru Portion Only) 1/19/21 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Mnt Goat News Brief - (Guru Portion Only) 1/19/21

Go down

Mnt Goat News Brief - (Guru Portion Only) 1/19/21 Empty Mnt Goat News Brief - (Guru Portion Only) 1/19/21

Post by RamblerNash Thu Jan 21, 2021 9:40 pm

More news….

I am really disappointed in many of the so-called intel gurus. I call then “so-called gurus” because they are not really anything but idiots. They use these constant string of events as targets in an attempt to use their crystal balls in predicting when the RV will happen. When one doesn’t pan out then they simply move on to another and away they go once again with their foolishness. Take for example, they have been riding on the coattails of Iraq getting the federal budget bill for 2021 passed. They claim the RV will happen when this is done. Really? They ignore all the other information that tells us they do not plan on doing the project to delete the zeros anytime soon. In fact they just devalued the dinar again to 1600 dinars to the dollar.

In today’s news there is an article from the economists that suggest they need another 2 years to build up the economy, collect these large notes, and get the majority on electronic banking. At least they gave us an update on the project to delete the zeros. Finally! But I was hoping for something more official from the CBI.

But this worries me too about what these economists are telling us about these three objectives they outlined in this article today.  

I say this because they already told us in many previous articles that they have already collected substantial amounts of the currency and that electronic banking is now effective in every major city. We also know that limited amounts of the newer lower denominations are in fact already printed. So why tell us differently then? Are these economists really telling us the TRUTH? 

I can see I need to remind everyone that the world is in a VERY dangerous time right now. NO, not just the US but the world. What Trump had accomplished over his first four years was amazing. I am looking for yet another four years of Trump and the cleaning up of the swamp to continue. It has to continue as God says we are not going back but forward. Please go out to FB (if you still have your account ..lol.. lol..) and watch my latest video I will post soon. Listen to the lyrics of the songs I play. It is called “two, two, two”. It explains it all.

Please, please, please do not give up on the reinstatement of the Iraqi dinar. It will be reinstated when the corruption both in Iraq and in the US is dealt with and things settle down when Trump is back at the helm. You MUST have faith and believe. Do you? Pray, pray and pray some more.

More news….

AFTER THE ECONOMIC CONSEQUENCES ... THE DEVALUATION OF THE DINAR "PREPARES" FOR NEW PROBLEMS FOR THE IRAQIS

The specialist in Iraqi and global economic affairs, Evan Shaker Al-Dubirdani, confirmed that the high exchange rate of the dollar against the Iraqi dinar will have major negative effects on the Iraqi economy, as well as social problems that may lie in wait for the Iraqi people.

Al-Dubardani said in a press statement, "The rise in the value of the dollar will negatively affect the basic purchasing power, such as food and medicine for the citizen, by 23%, as the value of the employee's salary will be reduced by 23%, which in turn / the purchasing power / will affect the quality in the Iraqi market as the citizen is unable to buy the goods are of high quality due to their high price, which forces them to resort to less valuable goods.

He pointed out that "the rise of the dollar will negatively affect the real estate and housing sector in Iraq, as the housing projects that operate on the installment system, which were previously dealing in dollars in selling real estate to the citizen, and when the value of the dollar rises, the citizen becomes unable to pay the monthly installment in dollars, which will lead to judicial problems and force Citizen to sell the property at a low price. ”

He added: One of the negative effects of the high exchange rate of the dollar is that IT FORMED A NEGATIVE IMPRESSION ON THE INVESTMENT SECTOR, so that IRAQ HAS BECOME A REPELLENT ENVIRONMENT FOR FOREIGN INVESTMENT. Most foreign companies will leave work in Iraq because most of their projects will stop because there is no demand for them because of the high prices of real estate that these companies implement due to the weak ability of the citizen to buy “.

(Mnt Goat – this article tells me they must raise the rate of the dinar against the dollar very soon or they will never rebuild their economy. We know the main reason they did this was to pay off their outstanding debt. When will this be completed? )

More news….

SURPLUS FUNDS COMING TO IRAQ DUE TO THE "PRICE DIFFERENCE": WILL THE FISCAL DEFICIT BE ERODED ... OR WILL IT GO TO OTHER ISSUES?

Various proposals are still escalating about how to invest the surplus money that will be made as a result of the price difference between the global price of a barrel of oil and the price approved in the 2021 budget of $ 42

Government and parliamentary entities are planning to invest the price difference, which may reach nearly 40 trillion dinars, to reduce the fiscal deficit of more than 70 trillion dinars.

More news….

ARABIC WRITER: THE ARRIVAL OF CHINESE COMPANIES TO IRAQ IS THE ONLY SOLUTION TO GET RID OF AMERICAN HEGEMONY

The Lebanese writer and political analyst Tawfiq Ibrahim confirmed, on Thursday, that the only solution to get rid of American hegemony in the region is the arrival of Chinese international companies, indicating that China's strengthening of its companies in Iraq, Syria and Lebanon will contribute to reducing American influence.

Tawfiq said in a statement to "the information" that "CHINA DOES NOT WANT TO GO TO WAR WITH WASHINGTON, ECONOMICALLY AND MILITARILY, TO PRESERVE ITS POSITION IN THE MIDDLE EAST."

Tawfiq added that "there are political agendas, whether in Iraq , Syria or Lebanon, that do not want any of the Chinese companies to come to maintain the American presence in the region."

More news….

REPRESENTATIVE ECONOMY: A DIFFERENCE IN THE EXCHANGE RATE OF THE DOLLAR RETURNED TO THE GOVERNMENT BY 12 TRILLION DINARS

A member of the Parliamentary Economic and Investment Committee, Hamid Al-Mousawi, revealed that the difference in the exchange rate of the dollar RETURNED TO THE GOVERNMENT BY 12 TRILLION DINARS, pointing out that Parliament is determined to reduce the budget deficit and pressure unnecessary expenditures.

Al-Mousawi said to "the information", that "the Financial Management Law prevents the deficit from exceeding the 3 percent, while the deficit in the current budget has reached 44 percent, so work is being done diligently to come out with a budget that preserves employee benefits and social care and stands in front of the deductions decided by it." Government, as well as pressure over public expenditures. ” He added that "many of the paragraphs in the budget are called black holes, where the government tried to add unnecessary expenditures, and there is serious work to prevent these expenditures and direct them towards eligible categories."

More news….

AL-RAFIDAIN RAISES THE INTEREST ON SAVINGS ACCOUNTS TO 5% AND FIXED DEPOSITS TO 7%

Al-Rafidain Bank announced, on Monday, to raise the interest rate for citizens' savings accounts to 5 percent.

The bank’s media office said in a statement that Al Furat News received a copy of, that “based on the bank’s policy aimed at maximizing revenues in order to ATTRACT CASH AND ENCOURAGE CUSTOMERS TO SAVE THEIR MONEY INSTEAD OF HOARDING IT AT HOME, the bank decided to increase the interest rate on savings accounts to 5 Percent after it was 4 percent.

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

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.

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

Articles Begin

DELETING ZEROS OR PRINTING A NEW CATEGORY? .. THE IRAQI GOVERNMENT'S OPTIONS TO SAVE THE DINAR FROM COLLAPSE

January 14, 2021

A new storm hit Iraq this time with the local currency depreciating against the US dollar after political, security and health storms preceded it with the outbreak of the Corona virus, the decline in oil prices, the government reaching the stage of deficit in paying its employees' salaries, and the House of Representatives having to VOTE ON THE INTERNAL BORROWING LAW TO FILL THE DEFICIT.

The government started with the INITIAL STEPS TO IMPLEMENT THE PROVISIONS OF THE WHITE PAPER THAT IT LAUNCHED and talked about a lot over the past months to support its economy by raising the price of the dollar against the local currency from 1184 dinars to 1450 dinars to the dollar at the selling prices approved by the Ministry of Finance of the Central Bank, and this step was negatively reflected on the prices of goods, commodities and daily needs. For a citizen, with rates not less than 25%.

The crises were exacerbated by this step economically and preceded by health after it was limited to the political and security sides, and all this came at a time when Iraq is considered a rentier country that depends 95% on oil to cover state expenditures, especially salaries.

The Central Bank against a new issuance of the dinar at the present time.

(Mnt Goat – are they talking about yet higher denominations such as what they normally do for hyperinflation or at they talking about the new lower denominations? Be careful on how you interpret what they are saying. Take off you RV hat and listen.)

Loss of currency difference

Economic studies and research conducted by institutions concerned with economic affairs indicated that the Central Bank's sales for the years 2004-2020 amounted to about $ 582 billion, with a loss estimated at 20.7 billion, as a result of the difference between the official dollar and its black market price.

(Mnt Goat – In other words 20.7 billion dollars was stolen out of the CBI reserves.)

The decision to reduce the local currency - which came into effect a month ago - provides about 10 trillion dinars (6.9 billion dollars), targeting the segment of employees who were greatly affected by the decision and lost about 30% of their income due to the high prices of basic commodities that are imported from abroad, including mainly food. Followed by medications

Rescue alternatives

Some opinions saw the necessity of finding alternatives to save the dinar and prevent its deterioration further against the dollar, and to overcome this problem came back to talk about some solutions, specifically CANCELING ZEROS OR PRINTING A HIGHER CASH DENOMINATION SUCH AS 100,000 DINARS, but the TWO POSSIBILITIES SEEM TO BE OUTSIDE THE GOVERNMENT'S REFORM MEASURES and the central bank, because there are many Another obstacle is the lack of logistical supplies.

(Mnt Goat – all you stupid intel gurus did you read this. It says and I quote “outside the governments reform measures”. They why have you been telling us all along these measures are in the white paper? I am telling you that currency reform is part of the white paper but it does not specify canceling the zeros specifically. Get it?)

This comes at a time when the volume of cash transactions is very large in Iraq, and the VAST MAJORITY OF DAILY TRANSACTIONS ARE IN CASH WITHOUT BANKING TRANSACTIONS. Note that less than 25% of Iraqis have bank accounts, and after the devaluation of the dinar against the dollar by about 23%, the exchange value increased by about 25% because most of the goods on the market are imported from abroad and in dollars.

Al-Ansari explained the danger of printing large denominations of the currency for fear of facilitating smuggling and money laundering (Al-Jazeera).

Money smuggling

Economic expert Aqeel Al-Ansari believes that the last procedure does not take into account the reality and future of the Iraqi economy, nor other risks, especially in printing a new currency denomination with a value of 100 thousand, stressing to Al-Jazeera net that large groups facilitate the process of smuggling and laundering of money to increase its value and reduce its size and thus facilitate smuggling or taking it out.

Al-Ansari cites - for the above reasons - what the European Central Bank did to cancel the € 500 denomination in 2019.

Why now delete the zeros now?

As for deleting zeros, it IS THE GOAL MOST DESIRED BY THE CITIZENS - according to Al-Ansari - as well as the dealer, because of its great facilities, especially in banking and account transactions, which reduces arithmetic errors and facilitates daily dealings of the citizen and the merchant.

But he warns at the same time that any change at the present time is added to the changes that have occurred and are expected to happen after the approval of the 2021 budget and the entry into force of the white paper, which will increase the confusion in the markets and the Iraqi economy, which is looking for stability.

For this, the ECONOMIST PROPOSES A TWO-YEAR PROCESS PLAN based on the seriousness of relying on electronic banking transactions, and reducing the need for cash because of its great benefits, including “saving the costs of printing currency, controlling the movement of money, controlling the market, reducing money laundering operations and knowing the volume. The real income of the individual and companies and the provision of security for the dealer, in addition to transparency, and AFTER TWO YEARS THE MARKET AND THE CITIZEN ARE READY FOR THE PROCESS OF DELETING ZEROS.

AS FOR THE PRESENT TIME, NEITHER THE IRAQI ECONOMY NOR THE MARKETS ARE READY FOR SUCH A CHANGE, especially after the confusion that occurred after the devaluation of the dinar against the dollar, according to his opinion.

Impossibility

In turn, THE CENTRAL BANK DOES NOT AGREE WITH MAKING ANY CHANGE TO THE LOCAL CURRENCY OR ADDING, WHETHER IT IS DELETING ZEROS OR PRINTING THE 100 THOUSAND DENOMINATION IN THE CURRENT STAGE because of the lack of logistical supplies and the need for a long period of time, but it supports at the same time the second option more than the first in the case of a comparison the best of them - says a bank official, ATTRIBUTING THE REASON TO THE IMPOSSIBILITY OF COLLECTING ALL THESE QUANTITIES OF THE LOCAL CURRENCY WITHIN A SHORT PERIOD IN ADDITION TO THE NEED FOR A LONG PERIOD TO PRINT THE NEW CURRENCY.

(Mnt Goat – What new currency is there to print? We know the lower denominations are already printed. No, they are not yet at the banks as you don’t just given money to the banks for nothing. They must purchase the new denominations from the CBI. Yes, there are some already purchased in very limited supply. So some banks so already have them.)

A member of the Parliamentary Finance Committee, Jamal Cougar, supported the difficulty of printing a new currency, at a time when the decision was made to reduce the dinar against the dollar.

In an interview with Al-Jazeera Net, Cougar ruled out the Central Bank going to at least one of the two options, the current stage to restore the dinar to its previous state against the dollar, while continuing to print the 50 thousand denomination below 100 thousand, a trend that has nothing to do with the devaluation of the dinar.

The government was forced - as Cougar asserts - to go to the decision to REDUCE THE DINAR AGAINST THE DOLLAR TO FILL ITS DEFICIT ON THE ONE HAND AND TO SUPPORT LOCAL PRODUCTION, which has declined significantly in recent years, in addition to relieving many of its burdens on the other hand.

(Mnt Goat – I want you to know this article is just opinions of economists attempting to figure this out just like we are. However, also remember they are in Iraq and in the middle of this, unlike you and me. So, who is in a position to know any better?)

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

The dollar reaches 160 thousand against the Iraqi dinar: Approval of the 2021 budget will bring the "second shock" to the market after the recovery!

The exchange rates of the dollar continue to rise rapidly against the Iraqi dinar, with renewed discussions about the 2021 budget law in the House of Representatives, amid expectations of a further increase.

Today, Monday, economic expert Rasem Al-Akidi identified two main reasons behind the dollar’s rise in the past 48 hours.

Al-Aqidi said, in statements monitored by Yass Iraq: “There are two main reasons behind the high price of the US dollar in the Iraqi markets. The first is the stability of the epidemiological situation of Corona virus after a significant decrease in infections, the opening of the markets and the remarkable return of commercial activity after a clear period of depression in addition to A second reason is that people emerged from the shock of raising the exchange rate weeks ago.

He added, "The dollar has become a commodity subject to supply and demand, and the higher the demand, the higher the prices and vice versa, confirming that the exchange rate reaches 1600 after the budget is approved, because prices will remain volatile between the price that determines the central bank and the price that determines the market based on supply and demand."

The dollar prices in the local market exceeded the 1450 dinars barrier 48 hours ago in all governorates after they ranged between 1400-1430 for a period that exceeded 3 weeks.

After worrying expectations that the exchange rate could rise to two thousand dinars against the dollar, a member of Parliament, Abdul Hadi Al-Saadawi, confirmed that the dollar exchange rate will stabilize and be stable in the markets according to the pricing set by the Central Bank after the country's general federal budget law for 2021 was enacted.

Al-Saadawi said: “The dollar’s exchange rate reached 2000 dinars, a common rumor launched by traders with the aim of confusing the market and benefiting from speculation,” indicating that “the dollar’s exchange rate will stabilize at 1,450 dinars after passing the budget bill.”

He added that "passing the budget on the exchange rate stated by the government will contribute to market stability and limit rumors that confuse the economic and financial situation in the country," stressing that "controlling currency dealers is difficult by the government."

Representatives considered that the current exchange rate levels above 1450 dinars to one dollar were caused by the failure to approve the budget and to officially fix the exchange rate at 1460 according to what the Ministry of Finance requested in the budget.

Earlier, the Prime Minister’s financial and economic advisor, the appearance of Muhammad Saleh, commented on the fluctuation of the dollar’s exchange rate against the dinar in the Iraqi market.

The appearance of Muhammad Saleh said, "The exchange rate of the dollar against the Iraqi dinar will stabilize in the market, according to what was approved by the Central Bank of Iraq after the budget was approved," indicating that "the current instability comes due to the market shock from raising the exchange rate according to the new monetary policy, which requires Time to settle completely. ”

Saleh added, "The decrease in the central bank's sales of dollars includes something positive, as it will increase the reserves of the Central Bank of Iraq, and the decrease is a temporary issue that is not permanent, and the dollar will resell according to a specific ceiling as it was previously."

A member of the Finance Committee in Parliament, Jamal Cougar, spoke on Tuesday 5-1-2021 about the mechanism that enables the return of stability to the Iraqi markets, while noting that the reduction of the effects of the reduction of the value of the dinar against the dollar will be after the passage of the 2021 budget bill.

And Jamal Cougar said, "The decline in the effects of reducing the value of the dinar against the dollar and achieving stability in the market is done by fixing the exchange rate of the dollar in the draft general financial budget, after passing it in the House of Representatives."

Cougar added, "The second step is for the government to develop solutions to address the high prices, by supporting imported goods and activating the local product as well as searching for other alternatives."

He pointed out that “citizens have so far been uneasy about the current exchange rate, and thus a state of anxiety has been born that has made the market largely unstable,” noting that “the decline in central bank sales indicates that the numbers that were announced in the past and the current numbers are real, because The real investor who needs financial liquidity goes to the bank to buy the dollar, or the traders who were benefiting from the selling price of the dollar are afraid of going to the bank.

(Mnt Goat – remember the dollar against the dinar just does not “rise”. It is not on a float. It is supposed to be controlled and kept around 1166 dinars to the dollar. So why is it moving so high? They CBI and the GOI are  manipulating the dinar. This is not ordinary market drive. Many of these idiotic intel gurus were telling you they planned for another exchange rate change in early January. Well here it is 1600 and its not a revaluation but another devaluation. Get it? Why do these idiots spread such rumors instead of listening to what the CBI is actually doing.) 

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

PARLIAMENTARY LAW FOR THE EUPHRATES NEWS: AN AGREEMENT TO POSTPONE THE ELECTIONS UNTIL AFTER SEPTEMBER URGENT

The Parliamentary Legal Committee revealed, on Thursday evening, an agreement to postpone the elections until after next September.

A member of the committee, Salim Hamza, told Al-Furat News, "an agreement has taken place between the three presidencies and the Independent High Electoral Commission to postpone the elections until after next September, but it has not been officially announced yet."

He explained, "The meeting of the three presidencies, in the presence of the commission, which was held two days ago, was to confirm its ability to run in the elections on the announced date (June 6, 2021).

The commission was given 48 hours to respond, after which it was agreed that the commission would not be able to hold the elections on the specified date.

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

PARLIAMENTARY PLANNING: THE 2021 BUDGET IS A VIOLATION OF THE WHITE PAPER

The head of the committee, Hazem al-Khalidi, said in a statement to / the information /, that “the federal budget bill for 2021 is in contravention of the white paper presented by the Al-Kazemi government,” noting that “THERE IS A VIOLATION OF THE FINANCIAL MANAGEMENT LAW WITHIN THE BUDGET, WHICH STIPULATES THAT THE DEFICIT PERCENTAGE SHOULD NOT EXCEED 3%. The deficit in this budget reached 60%.

He added that "the current budget is unrealistic and greatly exaggerated, and represents the government's confusion in drawing up economic policies," noting that "the DRAFT 2021 BUDGET LAW INCLUDES SEVERAL CONSTITUTIONAL AND LEGAL VIOLATIONS THAT WILL BE AMENDED AND DISCUSSED URGENTLY."

The Parliamentary Labor and Social Affairs Committee confirmed, the day before yesterday, Tuesday, that returning the federal budget bill for 2021 to the government will delay the passage in the House of Representatives by six months.

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

ARTICLE 140 POSTPONES THE RESOLUTION OF CONSTITUTIONAL AMENDMENTS

Article 140 of the Constitution stands in the way of completing the work of the Constitutional Amendments Committee in the House of Representatives, which may delay the resolution of those amendments to the next parliamentary session.

Committee member Yunadam Kana told Al-Sabah: "The committee's meetings have been suspended so far, adding to the political dispute between Baghdad and the Kurdistan Region."

"It was supposed to be a meeting between the political leaders and a joint committee of the main components in Kirkuk province, which is the basis in the problem of resolving this constitutional article, but it is too late, and the amendments may not be completed during the current session," he said, adding that "the amendments, even if completed, need to be passed by parliament, and it may be difficult."

"The committee agreed to redraft article 140 in a new way, but the deputies of Kirkuk province refused, which led to the article remaining the same and did not be put up for discussion or voting," kana said, adding that "the report that is supposed to be written by the chairman of the committee and the rapporteur, we have not seen it yet."

Article 140 of the Constitution of the Republic of Iraq, the disputed areas of Iraq, is defined as "those that have been subjected to demographic change and Arabization policy by the regime of the exterminator".

The article provided for a three-stage mechanism, the first (normalization), which means addressing changes in the demographics of Kirkuk and the disputed areas in and after the previous regime, and the second (population census) in those areas, and the last (referendum) to determine what its inhabitants want, before 31 December 2007.

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

THE RISE IN THE DOLLAR WILL HAVE NEGATIVE EFFECTS ON THE IRAQI ECONOMY ... AND THE SIMPLE CITIZEN WILL PAY THE PRICE FOR THIS STEP

The specialist in Iraqi and international economic affairs, Evan Shaker Al-Dubardani, confirmed that the high exchange rate of the dollar against the Iraqi dinar will have major negative effects on the Iraqi economy, and the main victim is the simple citizen who will pay for this step.

Al-Dubardani said in a statement to the Iraqi National News Agency / NINA / that: The rise in the value of the dollar will negatively affect the basic purchasing power, such as food and medicine for the citizen, by 23%, as the value of the employee's salary will be reduced by 23%, which in turn / the purchasing power / will affect the quality in the Iraqi market. Citizens are unable to buy goods of high quality due to their high price, which forces them to resort to less valuable commodities.

He pointed out that: The rise in the dollar will negatively affect the real estate and housing sector in Iraq, as the housing projects that operate under the installment system, which were previously dealing in dollars in selling real estate to the citizen, and when the value of the dollar rises, the citizen becomes unable to pay the monthly installment in dollars, which will lead to judicial problems and force Citizen sells real estate at a low price.

”He added: One of the negative effects of the high exchange rate of the dollar is that it created a negative impression on the investment sector, so that Iraq has become an environment that expels foreign investment, as most foreign companies will leave work in Iraq because most of their projects will stop because there is no demand for them because of the rise in real estate prices. These companies implement it because of the citizens' weak ability to buy.

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

Articles End
RamblerNash
RamblerNash
GURU HUNTER
GURU HUNTER

Posts : 20838
Join date : 2015-02-19

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum