Wednesday, August 2, 2017


August 2, 2017 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.   

The news from Iraq just keeps pouring in.  I can honestly write an entire book. Seriously I do try to keep my newsletters as short as possible, pertinent and relevant to the FACTS and dealing with the RV saga only, as much as possible. However, it is sometimes very hard because the pieces to this puzzle are all interconnected with other pieces that seem to have no impact but really do. These are often overlooked issues. So one piece effects the others. How do I tie it all together for you? It is hard, but I will try.

I want everyone not to assume that I am still not optimistic about a significant revaluation of the Iraqi dinar coming soon. I can see all the signs that they will bring back the IQD to its “former glory” soon. It will not take years and I am still looking for it sometime this year. But you have to remember that their economy can only take so much growth and then something must happen or simply put - who would want to come into Iraq to invest if they can’t grow their money?
​Lots of talk now from many of these so called intel “gurus” that the lower denominations are launched. I have not heard anything such thing. I know that the newer notes have been printed and delivered to Iraq already. There is a mixed batch of KRG issued formats and non-KRG formats. Years ago they told us they wanted to print these KRG formats but would hold off until after 2013. Well its 2017 and they are now completed by the German run printing company. Now that electricity is running 24/7 they want to put the ATM machines online too but can’t since they are setup only for these newer notes. Remember these machines? We heard about the acquisition of these new machines way back in 2011. Yes, they have been sitting in warehouses and some installed in the market places but none used. It is almost time!

So we heard about the second audit review Iraq had with the IMF yesterday 8/1. What were the results? No – this meeting was not all about the RV and approving the new rate…lol…lol…I am sure they talked about this event but trust me it was not about "pulling the trigger" this week. But here is what it was about,

Many say that even if the meeting was all about the RV they wouldn't tell us anyway and make it so open and public. Really? I believe just the opposite. Why? The CBI is not hiding this event folks. They have no reason to hide it. They are very proud to bring back their currency to its former glory. The CBI also told the public in Iraq many times they will educate them along the way. I presented these articles to you in the past. We expect it to  happen again, when the time is ready. The reason we have not yet seen this is that they are NOT YET READY. 

The Central Bank of Iraq in a statement received, Alsumaria News,  "The International Monetary Fund congratulated the Central Bank and the Ministry of Finance and the Prime Minister on the success of the second audit consultations and the Convention on credit readiness after the implementation of programs and financial and monetary targets and placed in a framework that provides financial stability for Iraq and face Financial and security challenges ". This review will pave the third revision , which will begin in the month of September next action. Remember the IMF is not obligated to pay Iraq another installment on the SBA loan if they do not implement the needed reforms and make progress as agreed in their MOU dated all the way back to 2015. 

Articles are below. As always my comments are in italic RED.

Articles Begin

Iraq .. 60 countries will participate in the reconstruction of the affected areas

Baghdad Mawazine News

The head of the fund for the reconstruction of the areas affected by terrorism Mustafa al-Hiti, was able to obtain real promises from 60 countries to participate in the reconstruction campaign.

"Kuwait is ready to host the donor conference on its soil after bilateral talks," he said in an interview with Kuwait's Al-Sabah newspaper. "The conference comes after the victories of the security forces. A Kuwaiti delegation will visit Iraq soon for Mosul to see the extent of the destruction. Ahmed in this city. "

"The IMF responded to an invitation from the World Bank to discuss the reconstruction of the areas affected by terrorism in Washington, DC on the tenth of this month, in the presence of nearly 35 countries," he said, adding that "the Fund is close to completing the first loan of the bank, Very few pay after 15 years, and there was a challenge to convince the international community to increase the loan amount through the presentation of the direct work done by the Fund  in the last phase with the first loan, which amounted to 152 projects and coordination between the government departments and the donor and the mechanism of action, Million, to include n After its liberation from the clutches of terrorism, after the first loan was allocated to the provinces of Salah al-Din and Diyala, in addition to raising the slogan "International Coalition for the reconstruction of Iraq." (In other words they are saying they have to prove the money is being spent on reconstruction by showing the work being done. In the past almost all of the reconstruction funds were waisted and stolen by corruption)

He pointed out that "the fund is able to manage the money and supervision of it, has now reached about one billion and 200 million dollars, after adding the amount of the government budget," stressing that "the readiness of about 60 countries for the reconstruction of Iraq, depending on the type of participation, whether money or the entry of companies and others."
​Evidence of war .. Another door to introduce hard currency revenues to the federal budget

The figures on the losses caused by the war against the terrorist organization, according to estimates of international and local organizations, waiting for the liberated cities and reconstruction and make it archaeological and historical evidence of other revenues to the budget of the federal state.

According to a member of the Committee on Economy and Investment Representative Jamila al-Obeidi, "The figures estimated losses of liberated areas. It is not accurate that there are areas that have not yet been liberated, such as Tal Afar and the mined areas by an encouraging organization. " 

"Most of the losses on the right coast of Mosul are about 70-75 percent, according to international organizations," al-Obeidi said. "Mosul airport disappeared completely from the hospitals, the textile factory and the infrastructure in the old city." She added, 

That the money collected for reconstruction may go into the pockets of corrupt, suggesting that any state that gives money to a particular sector, such as the school sector itself oversees the reconstruction of the sector in cooperation with the ministries responsible. " Obeidi noted that" there is a possibility to make some areas in Mosul, what happened, such as the museums that document this dark era and the victories of the Iraqi army, and thus be attractive to tourists and domestic and foreign intervention of a difficult currency for the federal budget. " 

For his part, the expert on economic affairs in the name of Jamil Antoine that" the national economy in recent years built on the wrong foundations and must Restructuring, whether it is the industrial or agricultural sectors or services, rather than relying on a single sector, which is the oil sector. " 

Antoine also adds in a statement to (range), that" The sustainable development of the largest number of labor force and the reduction of unemployment rates, which reduces the proportion of those who fall below the poverty line, stressing the need to move to revitalize the tourism sector, as we have the possibility of tourism in many aspects, including religious tourism and archeology and tourism, which creates many opportunities for the unemployed Work "and shows that" the re-liberation of Mosul must be in accordance with the strategy and plans correct, so as to control the financial waste of funds to be disbursed by donor countries and work on the formation of a professional committee away from politicians and trends, that the Committee to assess the destruction in the city within the tables A fee for the infrastructure and not to rely on inaccurate figures.

" Antoine suggested that" The implementation of the Marshall Plan that reconstructed and rehabilitated Europe after the war, pointing out that the right side in Mosul can not rebuild the infrastructure because most of the old residential role was built almost 100 years ago, suggesting that the adoption of new residential complexes on the remains of destroyed areas witness archaeological.

On the one who came to Iraq from the thought of the devolution and was eliminated by the courage of the sons of the homeland, and thus be a new museum to enter the revenues of the federal budget. " Antoine believes that" the laws should be enacted and implemented, not written on paper and not be implemented (YES-this seems to be a huge problem in Iraq. Laws are not good unless implemented and enforced) because of some parties and influential blocs in the government and activating the culture of investment and attracting foreign investor. " Member of the Committee on Economy and Investment Parliamentary Abdul Salam al-Maliki, demanding in a press statement obtained (range) a copy of it, the Iraqi government to accelerate the activation of the new investment law.  

( I did not present the rest of the article. It was not really important to us and this RV saga. You can go online and read the rest)
​Parliament: The law "National Oil" will be ready to vote soon

Direct said Chairman of the Oil and Energy Parliamentary Iraq, said that the National Oil Company Law will be ready to vote in the weeks or the next few months, citing the Iraqi News Agency. ( Just like you reading this today I don’t like the part about maybe taking a few MONTHS, but this is the truth, factual news and so they are telling us. So no rumors it is not already done.  Remember parliament was holding back on the final vote of the updated HCL sitting there now for over a year.)

Ares Abdullah explained that the first reading of the law has been completed and is currently being discussed. 

According to the law, "Ares" that includes the separation of the National Oil Company from the Iraqi Ministry of Oil, so that directly linked to the Prime Minister of the State. 

The company will manage oil operations in Iraq only now, which will include development, exploration, exploration, extraction and production, except marketing, which will remain linked to the company "Sumo," according to the agency.  (So this National Oil law is NOT the HCL but it may be in part holding back the final vote of the HCL changes, now sitting in parliament)

He continued: "We will meet with the Kurdistan government during the next week; to reach a formula for agreement on the draft law, and we expect to pass it after." (let’s hope it’s just weeks not months)

Azir pointed to the viability of the law within the House of Representatives of all political blocs, according to the agency. 

He was a member of the Committee on oil and energy parliamentary Iraqi noted on July 20 that the current version of the law of the National Oil Company does not represent the ambitions of the oil industry in Iraq. 

The text of the law includes 9 items, the most prominent of which is to allow the company to invest in all oil and gas fields for all of Iraq's territory and territorial waters. It also has the right to borrow from inside Iraq or abroad to finance its investments.

The Ministry of Justice is implementing the electronic payment project for the salaries of its employees

(Implementing yet another ministry, as the CBI moves to get each ministry electronic. Is this also needed prior to RV – to get each ministry rolled out? Just asking. By the way just so you know. The electronic banking is all part of the process to delete the zeros. So they are moving forward with the process slowly.)

The Ministry of Justice started implementing the electronic payment project by adopting a MasterCard card for the distribution of the salaries of the ministry's employees through the documentation of specialized banking teams for their personal information and official documents. 

The ministry said that the electronic payment project aims to distribute the salaries of the ministry's employees and all its departments using the electronic card, pointing out that a special committee of the ministry  was formed to work for the project and under the supervision of the Judicial Planning Department, in implementation of the Council of Ministers Decision No. 313 of 2016. 

The ministry said that it contracted with the Development Bank Which will oversee the distribution of salaries of employees in the form of (forward payment), indicating that the committee working in the project will open financial accounts for the staff of the Center of the Ministry in coordination with the work team of the bank in question to facilitate the To pay their salaries and exceed the traditional method of receiving from banks
Central Bank: Our financial situation is good for four years to come even if oil prices do not recover

The central bank explained that the reserve of gold that it has, is part of the cover of the national currency, and its function is not the transition time hard to dollars to strengthen the budget as some believe, and stressed by saying, it is not practical to liquidate that reserve and convert it to the dollar in front of any financial problem passes.

Said that even if Iraq does not recover oil prices, its financial position will be good for four years to come. An economist confirmed that the central bank has good reserves and does not raise the burden of deductions from the citizen, as some believe, indicating that the reserve is used to finance imports. Not for domestic spending. This is the case in all countries of the world. 

The director of treasury and issuance, Ihsan Shamran in an interview with (the extent), Iraq is not the fifth country in the reserves of gold, sending: And the central bank built the reserve of gold, which he now has up to 89 tons of gold as part of the cover of the national currency, and his job is not to turn at the time of hardness to a dollar to strengthen the state treasury or budget, adding: So that this source is supported by the dollar and gold as well as the rest of the bonds and others, and here may actually liquidate this reserve any transfer to liquid funds from the dollar in front of any difficult problem in the country, especially as his job to support the Iraqi currency and make it a very strong currency, Thanks to a cash reserve from States T another gold. 

"This is also a reserve for international financial organizations in a good position as well. Iraq is known and calculated now what is its financial and economic situation. Even the financial problem is now an emergency and it will be overcome and the Iraqi economy will recover. At a safe level, and Iraq in the next four years and with bad oil prices will be an excellent financial situation, but if oil prices recover, the central bank will return to build even more reserves of the dollar. The veteran economist Ahmed Barihi, in an interview with (the extent), that Iraq does not need to turn the reserve of gold into a difficult currency, it has enough foreign exchange reserves, and there is a good amount of them now in the Central Bank, and that Iraq does not need to turn to the use of gold, he said: On the other hand, the existence of reserves of the Central Bank is good does not raise the burden of deductions from the citizen as some believe, because this reserve is used to finance imports and not for domestic spending, continuing: Usually the reserves of the Central Bank of Iraq and in all countries of the world, used for external payments and not payments "The citizen should know that foreign currency is used for foreign payments and not for citizens, and the latter must know that, because the newspapers and economists are deceived this fact in the minds of people until there is confusion between the reserves of the central bank and the budget It is a big mistake, at a time when it was necessary to focus on the currency used for payments and in all countries of the world, and have no other job, and here the budget is a revenue and expenses and the Central Bank of another institution. 

Breihi had earlier pointed out that while we are ranked fifth in the global gold reserve, it is useful, especially since gold reserves can be converted into anything else, and the central bank can at any moment convert them into Foreign currency and used in international transactions or reinvested in the international market, which is certainly a good treasure because gold from the means of conservation of value and central can convert this gold, which has a foreign currency and uses this currency for the purposes he wants either to finance foreign trade or to put the amount in the financial market International And to pay off debts. 
The Central Bank of Iraq announced on 16-7-2017 that the bank's gold reserves are 90 tons and it occupies a high international ranking. The total gold reserves in the bank is 90 tons, thus it occupies the 37th position globally and the seventh in the Arab world.

The Central Bank of Iraq gold in 2012 was only 30 tons, but it has reached three times now, at a time when the World Gold Council announced the rise of the world's reserves of gold in the month of February, noting that Iraq has maintained the fifth rank of Arab reserves. 
The governor of the Central Bank Ali Alalak, announced on 11/5-2017, the increase in foreign exchange reserves of foreign currency than in 2016, stressing the rise to 49 billion dollars.

Reuters: Iraqi general sees easy victory over exhausted IS fighters in Tal Afar
(Just so you know, I am not presenting this article because I believe that once ISIS is gone from Tal Afar or from Iraq in general, that the CBI will automatically trigger some RV. I did not believe that once Mosul was liberated it would RV. I kept telling everyone there is much more to do prior to getting to the level of SECURITY needed. Let’s also think about the needed STABILITY which is getting the new Iraqi constitution “fully” implemented. No – Mnt Goat is not making a 180 degree change of mind. This has been my stand all along. Go back and re-read my past newsletters. It all there. (Link to Mnt Goat ARCHIVES)

We just have to wait and watch the saga play out and hope that nothing HUGE happens along the way to disturb the process. We also see the 2018 elections coming up in the horizon and once again we have to be cautious that they RV prior to this timeframe. It could be scary time again of not. Still no news from the CBI on the Project to Delete the Zeros.)

Reporting by Isabel Coles

MOSUL, Iraq (Reuters) - A senior Iraqi general predicted a relatively easy victory for his forces in the upcoming battle for the Islamic State haven of Tal Afar as up 2,000 fighters and their families there are "worn out and demoralized". 

Less than one month after declaring victory in the city of Mosul, Iraqi forces are poised to attack Tal Afar, which is around 40 km to the west of Mosul, in what will be the next major battle against the militants. (This article is telling us this last battle has not yet started. Get it? NOT STARTED! So how can it be all done as many of these so called intel l”gurus” are telling you. But the important news is this – could this also be the hold up in the CBI moving forward with the next phase of the currency reform?)

"I don't expect it will be a fierce battle even though the enemy is surrounded," Major-General Najm al-Jabouri told Reuters in an interview. 
Jabouri, a key battlefield commander, said the fight would be simple compared to the nine months of grueling urban combat in Mosul, which took a heavy toll on Iraqi forces.

"The enemy is very worn out," said Jabouri, who was mayor of Tal Afar when it was overrun by insurgents more than a decade ago. "I know from the intelligence reports that their morale is low," the general added. 

 (skipped a part of the article. It was just a summary of what we already know)

Jabouri said all that remained was to receive orders from Iraqi Prime Minister Haidar al-Abadi to launch the assault: "perhaps it will be in days, or a week, or two". (So we have to wait again while they prepare)

Beyond Tal Afar, Islamic State still controls other pockets of territory in Iraq, including the town of Hawija and the surrounding area. (so there is more than just Tal Afar to liberate. We may have to wait months!)

(skipped more of the article. It was just a summary of what we already know)
Kuwait aims to raise $ 20 billion in preparation for a donor conference for the reconstruction of liberated areas

01-08-2017 10:19 PMThe Euphrates –

The Kuwaiti government on Tuesday announced the start of extensive contacts in order to prepare for hosting the conference for the reconstruction of Iraqi areas liberated from the control of the organization ‘Da’ash’ terrorist, while sources in the Office of Prime Minister, Haider Abadi, that the hopes of the Conference to collect at least $ 20 billion of Donor countries that will participate in the conference likely to be held in the coming months, which will restore the minimum services to cities liberated such as water and electricity and rehabilitation of hospitals and part of the destroyed schools.

Kuwaiti Foreign Minister Khaled al-Jarallah told reporters today that he was preparing to host a donor conference for the reconstruction of liberated areas from the hands of a preacher in Iraq, No date has been set for the conference, but it is likely to be in the first quarter of next year.

For his part, said a senior Iraqi official in the office of Haider Abadi, the government seeks to urge the brothers in Kuwait to urgently convene the conference as soon as possible, because of the disruption of the return of about two million Iraqis to their cities, being destroyed and in need of services, and the government is unable to address something or reconstruction of something . Adding that it is hoped that the collection of about 20 billion dollars during the conference, which is sufficient for the minimum cities liberated such as reconstruction of water and electricity stations and bridges and the rehabilitation of hospitals and a part of schools, as the estimated value of losses of these cities about $ 100 billion to return to what it was.

The source pointed out that the participation of some 40 Arab and foreign countries in the conference will be participation in political dimensions including an international position against terrorism. He stressed that the most prominent countries that have so far been confirmed are America, Britain, France, Italy, Germany, Sweden, Austria, Holland, Canada, Australia, Japan, China and Venezuela. , As well as Qatar, Saudi Arabia and the UAE. Turkey will also  participate, and Iran has not yet decided whether or not to participate.

Local reports estimate the total losses incurred by cities in the west and north of Iraq at more than $ 100 billion, including the infrastructure of these cities, such as road networks, bridges, dams, power stations, water and sanitation, communications, hospitals, schools, institutes, universities, agricultural and animal sectors, Destruction by terrorist operations and aerial bombardment of the International Coalition during the battles directed by the organization ‘Daash’ of the cities.

The cities of Fallujah, Mosul, Ramadi, Tikrit, Hawija, Hartbeh, Hit, Jorf al-Sakhr and Baiji are the largest cities in terms of damage, some of which reach about 80%.

However, the Iraqi prime minister estimated the losses at about $ 40 billion without counting the losses of the material citizens, where the estimated number of destroyed housing units (homes and apartments) by more than a quarter of a million units between full destruction and partial or burning.

The Iraqi government finds it very difficult to pay the salaries of its employees at the present time, which makes the possibility of reconstruction of these cities and return to the population of about 7 million people, at the expense of the government is impossible.

Articles End

Their words not mine…..No Rumors, No Hype, Just the FACTS!

Auf Wiedersehen
Much love to ya all,
Mnt Goat

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