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Wednesday, January 13, 2016

MNT. GOAT UPDATE, 13 JAN

UU6855 – “Quick Update” by Mnt Goat

Hello Everyone,

Our winter ski season is strong this year. Just recently we got blanketed with mounds of snow and the bitter January cold seems to have finally arrived. The tourists are very happy. Our little village is now like a gingerbread town and this too is part of why I enjoy Bavaria.

I just wanted to pop in today and give you fine dinarians a quick update. There is much news and it is all progressing nicely so relax. It is my opinion that Iraq is still moving to late January / early February target dates for some reason. We are also being told now they want to conclude ISIS fighting in region of Mosul by end of month too. WOW !

They have told us targets for HCL, General Amnesty law, Federal Council law also in this timeframe. Remember that even though we see signs that these laws may be already in the implementation stage they are not “official” until parliament passes them, Masuam ratifies them and they are posted in the gazette.


Just recently we learned about a “Comprehensive Reconciliation” law now being drafted by the council of ministers. This law also is expected to peep its head into parliament at the end of the month. This one we will have to watch carefully too.


NO Hype, NO Rumors just the FACTS.

Today’s News

Today is Wednesday January 13th   2016 and yes we are almost through the second week of the new year already and still no RV.   

Update: Currency Reform

So once again we are seeing more on the corruption of these auctions and the damage they bring to the monetary policy of Iraq. Last year the finance committee told us they wanted to end the auctions on Jan 1st. We did not see this happen. Now in this article below that they are suggesting once again they end the auctions and go towards the system of credit from the Central Bank to obtain money when needed instead of purchasing it outright. We know for a fact the plan is to move to this system once the lower denominations are launched.

So we can see them contemplating the necessity  and the desire to already move to this system. I feel that there are many events like this that are just at the edge and ready for the next move. All has been planned out and the stage is set. Kind of like also a horse race where all the horses are set and waiting at the gate. They just need the go-ahead.

I quote from the article below – “that influential people are the beneficiaries of the auction and sale of hard currency reserves of the Central Bank, while suggesting to the need TO REPLACE THE CURRENCY AUCTION OPEN LETTERS OF CREDIT.”

Article Begins

PARLIAMENTARY INTEGRITY REVEAL MASSIVE SMUGGLING OF FUNDS BANKS OPERATIONS AND PUT THE BLACK LIST

01/11/2016
Baghdad

Special - scales News
Detection of the Integrity Committee member of the parliamentary Adel Nouri, on Monday, TO CONTAIN THE CURRENCY AUCTION OF THE MASSIVE SMUGGLING OPERATIONS OF STATE FUNDS IN ADDITION TO FIT ON FORGED BONDS, while noting that the Commission has developed community banks in its blacklist.

He said Nuri's / scales News /, that "the Commission will continue to investigate the same files that have been working on them in addition to open more of the other files of corruption."

He stressed that "the sale of the currency one of the important files that contain a large and massive smuggling to file state funds in addition to cash and bonds forged and counterfeit receipts laundering by some companies."
He added, "There are civil companies and banks has been a question mark over them, and these companies will enter into the" Black List "or the black list of the Commission", Mushir that "those companies will be submitted to the judiciary."

The member of the parliamentary finance committee approved Majida al-Tamimi, earlier, that influential people are the beneficiaries of the auction and sale of hard currency reserves of the Central Bank, while suggesting to the need to replace the currency auction open letters of credit. Ended 29/4 e


Article Ends

This next article is the latest on ability to pay government salaries. As you may know the employment rate would be very high in Iraq if it weren’t for government jobs. People rely on these jobs to feed their families and pay rents. So in the article below they are reassuring the people again to quite them down that they have alternative plans to pay them the salaries. One plan they suggest is paying the salaries half in dinar and half in US dollars. This plan of course would save them money since the US dollar is worth much more than the dinar. This also would be a disaster on the economy since it would be like letting the child go back to suck on the mother’s tit when you are trying to get the child off it and grow up. I think you all know what I mean by my analogy?

Again in the article below we are hearing from Hadi al- Tamimi. I have sent you many articles by this economist already. Many have talked about the currency auctions and all the corruption. Now he is talking about several proposals that could help the government through the economic crisis. Note he is  not in agreement with the plan to pay salaries in US dollars.

I quote directly from the article – “behalf of Hadi al-Tamimi, there are several proposals the government can take in order to get out of the potential financial crisis as a result of the continuing decline in oil prices, including:
1)the issuance of bonds to the public and
2)to activate the productive sectors and
3)support the private sector
4)as well as a review of the price of the dollar against the dinar”

Have we not seen already news about programs, laws or events in the direction of all of these proposals?

I just need everyone to get inside of the heads of these Iraqi economists to begin to understand them the way I do and they you can see where they are going (must go) with currency reform. It is inevitable!

I quote again from the article – “The Finance Committee HAS CONFIRMED THE PRESENCE OF A PROJECT to reconsider the dinar exchange rate against the dollar with the government and central bank”

I also want to emphasize the following tid bit from the article below. Remember this article just came out in the last couple days. So it is very recent news.

I quote from the article – “He added that it is STILL A PROJECT UNDER STUDY AND NO DECISION, where they are studying Is Iraq could reconsider in the exchange rate, and whether it is in the Government's interest or detrimental to the citizen”

Okay, okay so now reading this then how could any so called intel “gurus” possibly and even remotely believe that the dinar already RV’s and we are just waiting our turn to exchange?  Do you get my point. Let me explain it better to you now.

Article Begins

EXPERTS SUGGEST: THE DISTRIBUTION OF HALF SALARIES IN DOLLARS WHILE REDUCING THE RATE OF THE DINAR      

BAGHDAD / JD

Proposed number of experts and specialists in the financial and economic affairs, up dollar exchange rate against the dinar to 200 000 dinars for $ 100, and the resort of the government to half the distribution of salaries of state employees in the currency of the dollar to absorb potential financial crisis in the country.

He said the financial expert on behalf of Hadi al-Tamimi, there are several proposals the government can take in order to get out of the potential financial crisis as a result of the continuing decline in oil prices, including the issuance of bonds to the public and to activate the productive sectors and support the private sector as well as a review of the price of the dollar against the dinar.

He said al-Tamimi told / JD / that since sales of Iraqi crude oil in the currency of the dollar means that the country's revenues in the currency of the dollar could increase its exchange rate against the dinar as a measure of my time to absorb the impending financial crisis, because there is a possible crisis in the event of low oil prices continued to below $ 30 because of adoption of Iraq almost entirely on oil revenues.

He noted that in the event of determining the dollar exchange rate to 200 000 dinars, compared to $ 100 would provide significant cash liquidity of the country, but this procedure can be temporarily any in the crisis period and after the improvement of the financial situation could reduce the dollar exchange rate against the dinar.
He called financial expert to invest part of the monetary reserves at the Central Bank in generating investment projects earnings to be another source of revenue for the state.

For its part, announced the economic and investment commission for parliamentary submit a proposal to the government to distribute 50% of the salaries of state employees in the currency against the dollar increased the dollar exchange rate against the dinar.

Said committee member Rep. Najiba Najib told / JD /: The Chairman of the Committee of Economy and Investment submitted a proposal to the government to cope with potential financial crisis, indicating that the proposal contains half the salaries of state employees distributed in the currency of the dollar with the increase in value of the dollar against the dinar to absorb the financial crisis.
She noted that the government will meet the Central Bank and the relevant parliamentary committees to agree on this proposal and its application.

The  finance Committee has confirmed the presence of a project to reconsider the dinar exchange rate against the dollar with the government and central bank.


He said the Commission's decision Haji Ahmed Rashid told / JD /: there is a legitimate taught by the Central Bank and the Council of Ministers, and the Finance Committee, to reconsider the dollar's exchange rate against the dinar.

He added that it is still a project under study and no decision, where they are studying Is Iraq could reconsider in the exchange rate, and whether it is in the Government's interest or detrimental to the citizen ?, noting that a review of the exchange rate would be the government's interest but hurt the citizens, as this will increase the exchange rate to runaway inflation, and an increase in commodity prices, stressing the need to take it into consideration and study of all aspects of the project, before making any decision.
Iraq is facing a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%.


Article Ends

Article Begins

PARLIAMENTARY FINANCE REASSURE STAFF ACROSS / SCALES NEWS /: THE CRISIS WILL NOT AFFECT THEIR SALARIES    

Special - scales News

Passed the parliamentary finance committee member Ahmed Sarhan Sarhan, Monday, that a red line staff salaries will not be compromised even with the continuation of the current financial crisis, while stressing the need to eliminate corruption and lack of waste of public money.

Sarhan said L / scales News /, that "the financial crisis will not affect employees' salaries across Iraq, attributing the cause to a red line they can not get close to them," noting that "the Commission has followed this issue before the five months prior to adoption of the budget."

He added that "the staff fully reassuring not to prolong the financial crisis of the salaries," stressing that "alternative solutions to austerity is the issue of internal and external bonds in addition to borrowing from international banks."

He stressed "the need to eliminate corruption and lack of waste of public money", adding that "staff deserve their salaries because of the service they provide to the citizen."

The Finance Minister Hoshyar Zebari likely, earlier, the inability to staff the distribution of salaries in the month of April, in the event of continued low oil prices, while noting that there are other options to avoid that. 


Article Ends

So in the article below we are witnessing news of non-conformity in the bank practices and we see that Iraq still has a problem managing these banking practices. Something we see in our countries as common practices are not yet infused into their society.


So in the article below we are witnessing news of non-conformity in the bank practices and we see that Iraq still has a problem managing these banking practices. Something we see in our countries as common practices are not yet infused into their society.

Remember it is the CBI that must come up with procedures and enforcement to regulate the banking laws. This is all just so knew to them still. Can anyone in Iraq do anything good out of moral fortitude for the good of the country as a whole without having a law jammed down their throats to make them do it? 

I quote from the article below - "if the banks have done to provide services to customers in order to attract this money saved, it will contribute to move the Iraqi economy," noting that "the central bank has a plan in order to attract these funds for the purpose of investment and moving the wheel of the Iraqi economy."

So what is this plan?

We have seen some of the indicators already of the plan such as the “National Unity Cards”, the currency SMART cards. Through these systems the government allocations are deposited into their accounts automatically. Now they have to get them to trust the banks so they don’t rush and withdraw it all as soon as they get it.

We are also seeing merchants coming online in the marketplace where they can now accept these smart cards to make purchases directly without having to get cash first. Something we also take for granted here in our countries they do not fully have capabilities to do on a large scale. But all this is coming and with 35,000,000 citizens it will take time. 

All of these banking practices will help in the final rollout of the lower denominations. Can you see it now?
We reviewed these implementation steps and mechanisms with you in my last couple news letters, as given to us in a lovely article?  See how this all fits together in these articles going forward. It is all part of the educations process. You may not entirely understand it and see the reasons for it but believe them when they tell us they need to be educated and get out of the stone age when it comes to currency reform…lol…lol….

Article Begins

ELIGIBILITY BANKS REFUSE TO OPEN SAVINGS ACCOUNTS      

2016/11/01 

Refuses to community banks departments, open a savings for citizens accounts, advising them of the establishment of current accounts, which do not bear them any rates of interest to depositors who complain that many of them deposit and withdrawal procedures, what drives most of the money owners to keep their money in their homes, because of the lack of confidence in those banks , which is stalling the implementation of its obligations with depositors

Bankers accusing the central bank management to "weaknesses in control and deposits of private banks", adding it was "neglected scrutiny monthly indicators relating to those banks."

The Governor of the Central Bank on the Keywords revealed earlier, that 77% of the Iraqi currency traded in the market "chunky in the homes," noting that the bank "will put the plan to attract these funds to invest."

Keywords and added that "if the banks have done to provide services to customers in order to attract this money saved, it will contribute to move the Iraqi economy," noting that "the central bank has a plan in order to attract these funds for the purpose of investment and moving the wheel of the Iraqi economy."

Many complain of unbanked difficulty of deposit and withdrawal procedures, what drives a lot of people to keep their money in their homes.   For his part, President of the private banks association previously, banking expert Abdul Aziz Hassoun, said, mismanagement in those banks, which its owner weakness of the central bank supervision on them, he said, adding to the lack of confidence on the part of the citizen, accused of "central management not to check the monthly indicators that link to it from those banks. "

   
Article Ends

Update: Needed Laws

Next I present an article that is telling us many things about the HCL law. Remember in my recent past news letter I talked in detail about the HCL law and how, if “officially” passed in parliament, it can mandate the launching of the lower denominations and a rate of $1.17. This can happen  since the HCL payment to the people must be set in some standard of wealth distribution to the people. If the constitution did not specify a rate in its mandate, then the politicians could technically play a game with the payouts and pay substantially less to the people using the toilet paper valued currency they now have in circulation.

So now the there is more intent to bring the HCL law to parliament when the new sessions opens on Jan 19th.

What else is it telling us?

It is telling us why it was held up and I quote from the article – “the law to withdraw from the ministry to add paragraphs suit the current phase, as shown committee of parliamentary power, oil and gas law”

So they had to withdraw the HCL from parliament to add paragraphs to it dealing with the power of the Interior  ministry (by the Interior Ministry Act) which will administer the HCL provisions in the future. Now they are telling us it is ready for a vote and expected to be approved (passed).

I quote from the article below –“ the most prominent laws that the Commission intends to approval, at a time when the House resumes the second legislative term sessions, on Tuesday of next week, corresponding to January 19. “

Funny I thought this new session beginning in 2016 is the Third not the Second legislative term, as they have told us in so many previous articles. So I believe this is a mistake by the author of this article. Just so you don’t wonder.

Article Begins

LEGAL AND PARLIAMENTARY DIRECTED THE INTERIOR MINISTRY TO PASS .., OIL AND GAS      

1/12/2016 0:00

BAGHDAD Shaima Rashid

Expressed Security Committee and Parliamentary Defense, its intention to approve the Interior Ministry Act during the next legislative term, stressing that the law to withdraw from the ministry to add paragraphs suit the current phase, as shown committee of parliamentary power, oil and gas law, the most prominent laws that the Commission intends to approval, at a time when the House resumes the second legislative term sessions, on Tuesday of next week, corresponding to January 19.

A member of the Commission on Security and Defence parliamentary, MP Majid Ghraoui: that the government has withdrawn many of the laws of the House of Representatives for re-formulated, and that the parliament pending.  These laws, noting that his committee demanded to expedite the sending and the Ministry of Interior Act. He Gharrawi, in an interview for «morning» that «the Ministry of Interior Act read the first reading presented for debate in the parliament, before being checked out by the Ministry of Interior since more than four months» pointing out that the process of withdrawal of the law by the ministry, is aimed at «Add some amendments in accordance with the security situation, as well as to reconsider many of the joints of this law,» indicating that «the most prominent will be considered in the law is a process links between departments in the Ministry» He added MP, to reconsider this law demonstrates the ministry's keenness on the formulation of a strong law that guarantees its work effectively, especially in relation to the fight against organized crime in the whole of Iraq.

He Gharrawi, that the Ministry of Interior, as a result of their response and concern the security file and governmental reforms, select a number of laws in order to work on the wording commensurate with the status quo , as well as the financial situation in which the impact of the adoption of some of the law-making process.
In turn, MP from the Commission on oil and energy, Mazen Mezni, that the oil and gas law of the most prominent laws that his committee intends to approval during the next legislative term.

He said Mezni “The Oil and Gas Law of the most important laws that the Commission will seek to put in the new legislative term, especially as the political blocs cooperative and that many of the political parties that she met the Commission during multiple periods aspiring passage of this law”.

See a member of the parliamentary committee, that «the law contains a lot of items that are able to solve the problems with the province »adding that« there is in force a law to protect Iraq's oil wealth is important and necessary, »indicating that the law is still with the government because it contains a lot of shenanigans.
and between Mezni that the Commission requested more than once from the government to speed up the sending law oil and gas, calling on the Commission to be more compatible in order to pass.

For his part, said the parliament decision, Imad John, that the preliminary agenda the next legislative term sessions will not be important or sensitive adding that the table defines the day before or two days before session.

He said John Sabah that the Presidency of the Council are decide the agenda and what ready-made threads that can Drjha, as well as topics emergency special such as situations and security issues of concern to the displaced and the status quo »indicating that the liberalization areas by the security forces will be touched him during the first The new legislative term sessions, as well as a statement to greet the Iraqi army, he said, adding there may be a request from some lawmakers on the process of the Turkish intervention and the inclusion of a statement about the execution of Sheikh Nimr al-Nimr.


Article Ends

Update: Maliki Syndrome

Oh boy !  Makiki stikes again !

It this guy dumber than dumb?

Article Begins

MALIKI MEET "MONROE" AS "THE FIRST VICE-PRESIDENT OF THE REPUBLIC"      

Twilight News / received former Prime Minister Nuri al-Maliki New Zealand Ambassador to Iraq, James Monroe, under the status of "First Vice-President of the Republic."

Maliki says the abolition of office unconstitutional, which made him insist on the use described. But his colleagues Iyad Allawi and Osama Najafi stopped using the office title with the exception of Vice President al-Maliki.

A statement issued by Maliki's office that "During the meeting, they discussed progress of the bilateral relations between Iraq and New Zealand and practical ways to consolidate in various fields.

He stressed "the importance of relations between Iraq and New Zealand, cementing the need for the interests of the peoples of the two friendly countries," explaining that "the positions of New Zealand's important support for Iraq and in favor of its issues, particularly in the area of the war on terrorism."

For his part, Ambassador James Monroe said his country "is looking to establish better relations with Iraq and invest them in the interests of the two friendly peoples," explaining that "New Zealand appreciates and supports the role of Iraq in its war against gangs Daash".


Article Ends
Article Begins 


IN MASS CITIZEN MEMBER CALLS TO ARREST AL-MALIKI!      

01/11/2016       

The member of the coalition of the wise Mohammed Allkash, on Monday, Prime Minister Haider al-Abadi, to "arrest of Nouri al-Maliki, who is still impersonating Vice President of the Republic, despite the House vote to abolish the office."

He accused the MP Mohammad Allkash parties to the call of obstructing the application of the party this reforms, they returned to it, "Ebadi to create a problem with the other political parties."
member of a coalition citizen expects that "the coming months will see the launch of reference several options may be harsh in the case of the continuation of the reluctance of the implementation of reforms by the three presidencies.


Article Ends

Update: Fighting ISIS

One more item today:

Let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe their success is in part some of the acceleration of the process we are now witnessing. 

“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and Coalition Soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be Victorious against them! We ask that the Victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin!

We pray for the process of the currency reform, the full implementation of  the Iraqi economy to full  international status and the bringing of prosperity and wealth to its people“  Amen!

Till next time…. Auf Wiedersehen!

Peace and Luv To Ya All, 
Mnt Goat

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