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DINARESGURUS.BLOGSPOT.COM_________________ _______

Monday, March 12, 2018

IQD News Update (RANT# 107)

Reposted: "Questions You Could Ask at Your Exchange Apt.", 12 MARCH

Note: Some of these tips may not be applicable anymore....Not all of these questions may apply to everyone...Just take what you believe fits your own personal circumstances~ Thank You

EXOGEN : WHICH QUESTIONS FROM THIS LIST WILL YOU ASK AT YOUR EXCHANGE APPOINTMENT?

DO YOU KNOW WHAT ANSWERS YOU WANT TO HEAR FROM BANKERS WHEN YOU ASK THEM THESE QUESTIONS AT YOUR EXCHANGE APPOINTMENT?

(DO YOU KNOW THE CORRECT ANSWERS TO THESE QUESTIONS ONCE YOU ASK THEM TO THE BANKER?

IS THIS PART OF YOUR PLAN AND STRATEGY?

Questions:
....
1. WHAT TYPE OF BANK ACCOUNTS DO YOU HAVE AVAILABLE?

2. WHAT IS THE FDIC COVERAGE ON THIS ACCOUNT?

3. CAN YOU EXPLAIN TO ME HOW THE FOLLOWING BANK ACCOUNTS OPERATE?

A. NON INTEREST BEARING ACCOUNTS

B. MULTI CURRENCY ACCOUNTS

C. MULTIPLE CURRENCY ACCOUNTS

D.  (THE DIFFERENT TYPES AVAILABLE)

E. INTEREST BEARING ACCOUNTS

4. WHAT AMOUNT AM I REQUIRED TO LEAVE IN EACH ACCOUNT?

5. WHAT OTHER PRODUCTS AND SERVICES WILL BE PROVIDED TO ME TODAY WITH THESE ACCOUNTS?

6. WHAT ARE THE FEES ASSOCIATED WITH THESE BANK ACCOUNTS?

7. DOES YOUR BANK HAVE A WEALTH & TRUST DIVISION SEPARATE FROM THE RETAIL SIDE OF THE BANK?

8. I NEED SOME CERTIFIED CHECKS MADE PAYABLE TO (abcd) CAN YOU ASSIST ME?

9. HOW MUCH CASH CAN I TAKE WITH ME WHEN THIS APPOINTMENT IS COMPLETED?

NOTE: LIMITED CASH AND A CERTIFIED CHECK IS WHAT WE RECOMMEND

10. IF I COME BACK TO EXCHANGE MORE WILL I HAVE THIS SAME RATE?

11. WHAT PRODUCTS & SERVICES WILL THE WEALTH MANAGEMENT TEAM PROVIDE?

12. EXPLAIN TO ME HOW THE SWEEP PROCESS WILL WORK?

13. WHAT ARE THE ADVANTAGES & DISADVANTAGES OF THESE ACCOUNTS?

14. WILL LOANS  AND  LINES OF CREDIT  BE PROVIDED?

15. IS THIS ACCOUNT ACTIVE TO RECEIVE BANK WIRES NOW? (EXPLAIN THE PROCESS)

16. WHAT PRODUCTS & SERVICES WILL COME WITH THE WEALTH MANAGEMENT TEAM?

17. PLEASE GO OVER ALL OF THE DOCUMENTS WITH ME I WILL BE SIGNING?

18. TELL ME A LITTLE BIT ABOUT THE HISTORY OF THIS BANK?

19. HOW ARE MY DEPOSITS PROTECTED AGAINST BANK COLLAPSE, GOVERNMENT THEFT, AND BANK THEFT?

20. WHAT KIND OF INTEREST RATES WILL I BE LOOKING AT?

21. WHAT TYPE OF CREDIT CARDS AND DEBIT CARDS DO I QUALIFY FOR NOW?

22. WHAT ARE MY CHECKING & SAVINGS ACCOUNT OPTIONS?

23. IF I HAVE QUESTIONS TOMORROW WHO DO I  NEED TO CONTACT?
23. DO YOU HAVE A BUSINESS CARD?

24. IS THIS CURRENCY EXCHANGE TAXABLE AND WHAT IS THE RATE OF THE TAX?

25. WILL THIS TRANSACTION BE REPORTED TO FINCEN?

26. TELL ME ABOUT YOUR ONLINE BANKING (NOTE: WE DO NOT ADVISE ONLINE BANKING)

27. WHAT IS THE COST TO EXECUTE TRADES, , BONDS, ETC?

28. WHAT TYPE OF ADDITIONAL INSURANCE CAN I PLACE ON MY MONEY VIA PRIVATE BANKING & WEALTH MANAGEMENT

29. IS THERE AN EXCHANGE WINDOW IF I HAVE MORE CURRENCY TO EXCHANGE?

30. IS MY MONEY PROTECTED AGAINST DEVALUATION OF THE USD?

31. TELL ME ABOUT YOUR BANK PERKS?

32. ARE THERE ANY STIPULATIONS WITH THE CONTRACT RATE? (IF AVAILABLE)

33. WHAT ARE THE STIPULATIONS WITH THE STREET RATE?

34. WHAT ARE THE KEY POINTS OF THE NDA (IF APPLICABLE)

35. CAN I CONTACT MY ATTORNEY BEFORE I SIGN THESE DOCUMENTS?

36. IF I DO NOT TAKE THIS APPOINTMENT WILL MY RATE CHANGE?

37. WHAT ARE THE STIPULATIONS WITH THE MARKET RATE?

38. CAN YOU SHOW ME THE RATES ON THE SCREEN PLEASE?

39. CAN I HAVE A COPY OF THE DOCUMENTS FOR MY LEGAL TEAM
TO REVIEW?

40. WILL THE RATE DROP IF I COME BACK TO EXCHANGE MORE CURRENCY?

41. IF I HAVE MORE CURRENCY CAN I COME BACK AND EXCHANGE AT SAME RATE?

42. IF I HAVE MORE CURRENCY ARE THERE DIFFERENT RATE TIERS?

43. ARE THERE ANY TIME LIMITS ON RATES OF EXCHANGE?

44. CAN YOU EXCHANGE INTO LOWER DENOMINATIONS?

45. IS THERE AN EXPIRATION ON THE LARGE NOTES?

46. IS THERE A CAP ON THE AMOUNT I CAN EXCHANGE WITH YOUR BANK?

47. CAN YOUR BANK ASSIST ME WITH RESERVES/LAYAWAYS AND HOW
DOES THAT PROCESS WORK?

48. CAN I EXCHANGE WITH MY LLC, IBC OR TRUST?

49. AM I EXCHANGING INTO NEW TREASURY NOTES?
50. IF I USE AN MCA  (Multi Currency) ACCOUNT WILL MY CURRENCY STAY IN THE
CURRENCY OR CONVERT TO USD.

51. WHAT IS THE INSURANCE COVERAGE ON MY DEPOSITS?

52. AM I EXCHANGING INTO FEDERAL RESERVE NOTES OR TREASURY NOTES?

53. CAN YOU EXPLAIN YOUR BANKS BASEL STATUS & HOW DID YOUR BANK RATE IN BANK STRESS TESTS?

54. HOW MUCH DOES YOUR BANK HAVE IN DERIVATIVES?

55. HOW WOULD YOU RATE AND COMPARE YOUR BANK TO OTHER INSTITUTIONS?

56. HOW HAVE THE NEW OCC REGULATIONS, VOLCKER RULE, DODD FRANK, & BASEL REQUIREMENT IMPACT YOUR BANK?

57. CAN YOU EXPLAIN TO ME HOW YOUR FINCEN REPORTING WORKS?

58. WHAT TYPE OF ACCOUNT ARE THESE FUNDS GOING INTO AND I DO NOT WANT TO COMINGLE DIFFERENT CURRENCIES AND WOULD LIKE SEPARATE ACCOUNTS FOR EACH CURRENCY?

59. WHAT IS THE DIFFERENCE IN A CURRENCY EXCHANGE AND A CURRENCY INVESTMENT WITH YOUR BANK?

60. WHAT OTHER OPTIONS ARE AVAILABLE IF I DECIDE TO EXCHANGE MORE CURRENCY AND IS MY EXCHANGE RATE NEGOTIABLE

61. PLEASE SHOW ME THE RATES CURRENTLY ON YOUR BANK SCREEN BEFORE I EXCHANGE.....

DINAR GURUS UPDATE, 12 MARCH

3-12-2018   Newshound Guru Don961    Article:  "World Bank may sanction Iraq for 'non-compliance' "    more pressure...imo...

3-12-2018 
  Newshound/Intel Guru Mnt Goat 
  Article quote:  “THE STABILITY OF THE EXCHANGE RATE IS AN IMPORTANT STEP IN SUPPORT OF THE NATIONAL ECONOMY AND INCREASE INTERNATIONAL CONFIDENCE IN ALL ITS JOINTS”.   Why would they be concerned about international confidence in the dinar if they wanted to stay in a closed, sanctioned economy?   ...the goal of all this effort to recover the value of the dinar and I quote – “TO WORK ON THE RECOVERY OF THE IRAQI DINAR AND RAISE ITS MONETARY VALUE AND PURCHASE AGAINST THE US DOLLAR thus they mean reinstatement on the international arena. Folks the news could not get any better than this.  ...I believe this MCP issue is winding down to the last week of the mandated 90 day period by the IMF. The Reinstatement window is getting very close at hand.    [post 2 of 2]

3-12-2018   Newshound/Intel Guru Mnt Goat   Article:  "STABILITY OF THE EXCHANGE RATE, CENTRAL RATE TO MARKET RATE"   ...they are talking...about the “CBI program rate vs the Iraqi market rate on the streets” and not the rate to be announced on FOREX when the reinstatement occurs.  Quote:  "NOTING THAT "THERE ARE INCONSISTENCIES IN THE MARKETS SOMETIMES INDICATE PRICE LEVELS RELATIVE.  this...is referring to the market rate vs the “official target” CBI rate called the MCP (multiple currency practice). The IMF needs them to be able to control the rate of their currency in- country first prior to letting it go international. Quote:  "The official target price of the dollar is 1200 dinars per dollar,"  "the gap in the exchange market in the presence of a fixed price adopted by the central is available in many economies, an acceptable change."  ...the IMF wants this gap in the market rate vs the central bank rate to be within an acceptable range...this range is +- 2%.  [post 1 of 2....stay tuned]

3-12-2018   Newshound Guru Kaperoni   Article:  "Alnasiri: Implementation of the Central Bank's strategy contributed to the improvement of the dinar's exchange rate against the dollar"   Seems all we are waiting on now is sustainable compliance with the 2% spread.  We just watch and wait and see.

3-12-2018   Intel Guru Dr. Clarke   “What about Article 8, 2% Compliance, Gold backed, Asset backed and a Whole List of other stipulations?”  Here’s our Answer: It’s all B.S.!  WHY? IRAQ has secretly, quietly, and in compliance with the IMF, been in Article 8 compliance for a long time...and with the UN & IMF’s blessing...QUIETLY...hence why they keep yelling “International” in so many ways.  Folks, wake up an realize something. They need a REASON to announce things OFFICIALLY & PUBLICLY.  ALL OF IT.  That “REASON”, is to OFFICIALLY & PUBLICLY, SUBSTANTIALLY, RAISE THE VALUE OF THE DINAR. It will happen SIMULTANEOUSLY, at the same time. INSTANTLY!   Just our Opinions.

3-12-2018   Newshound Guru mike   Article:  "Al-Hadithi: The news about the IMF's rejection of the federal budget is not true"   Quote:  "The government denied the news that the International Monetary Fund rejected the federal budget for 2018, because it is not in line with the agreement signed between him and Iraq."   Bottom line, Iraq is ignoring the IMF's recommendations about taxes, reducing government payroll and other austerity measures, we'll have to wait and see what the IMF state publicly, there's nothing on their website regarding Iraq's budget...yet It doesn't really matter in the end, Iraq has every right to ignore the IMF's recommendations, the problem is they'll lose financial support from the west because of the potential political gain. 

New Guru Alert~ CJ Testa - 800# Alert!, 12 MARCH


MNT GOAT UPDATE, 12 MARCH

Hi Everyone,

I bring you much news today.

So we know that there is some connection between the passing of the 2018 budget and the moving ahead with the reinstatement. Today we will explore just where the budget stands.

Next we move to an update today on the multiple currency practices (MCP) and whether the IMF is satisfied with the progress so far. I quote from the articles below - that "OVER THE PAST YEAR WE WERE ABLE TO ACHIEVE GREAT STABILITY OF THE UPPER AND LOWER LIMITS TO THE DOLLAR.

"THE OFFICIAL PRICE TARGET OF THE DOLLAR IS 1200 DINARS PER ONE DOLLAR AND THAT THE GAP IN THE EXCHANGE MARKET IN THE PRESENCE OF A FIXED PRICE ADOPTED BY THE CENTRAL BANK IS AVAILABLE IN MANY ECONOMIES, AN ACCEPTABLE CHANGE.

I want everyone to remember that the IMF’ policy on MCP is not new and for Iraq. It is a long-standing policy and is one of the IMF measures taken on the road to bringing back a currency from a war torn country. For Iraq it is the last measurement taken for the IMF to gauge whether they are ready or not to make this final move “fully” from UN Charter Article 14 to Article 8.

Article 8, as we should know, is the normal monetary policy operating status of a member nations under economic stability as a global trading nation/partner.

The following is directly from the UN site under IMF:

Click on link to go directly to the IMF site and read it for yourself -

https://www.imf.org/external/pubs/ft/sd/index.asp…

Official action should not cause exchange rate spreads and cross rate quotations to differ unreasonably from those that arise from the normal commercial costs and risks of exchange transactions.

a.

(i) Action by a member or its fiscal agencies that of itself gives rise to a spread of more than 2 percent between buying and selling rates for spot exchange transactions between the member’s currency and any other member’s currency would be considered a multiple currency practice and would require the prior approval of the Fund.

(ii) An exchange spread that arises without official action would not give rise to a multiple currency practice.

(iii) Deviations between the buying and selling rates for spot transactions and for other transactions would not be considered multiple currency practices if they represent the additional costs and exchange risks for these other transactions.

b. Action by a member or its fiscal agencies which results in midpoint spot exchange rates of other members’ currencies against its own currency in a relationship which differs by more than 1 percent from the midpoint spot exchange rates for these currencies in their principal markets would give rise to a multiple currency practice. If the differentials of more than 1 percent in these cross rates persist for more than one week, the resulting multiple currency practice would become subject to the approval of the Fund under Article VIII, Section 3.

I did not print the entire IMF policy on MCP but if you continue to their site and read it you will se that there is a 90 days requirement to monitor the MCP under certain conditions.

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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

Will the 2018 Iraqi elections affect the RV?

BAGHDAD – The closer the Iraqi parliamentary elections are scheduled for May 12, the greater the speculation about who will take over as prime minister for four years to come.

Within the closed chambers, movement continues to support the chances of this candidate or that of the importance of the first government will lead Iraq in the post-Islamic state of terrorism and the stage of combating financial and administrative corruption.

It seems that the current Prime Minister Haider Abadi is the favorite to head the executive for a second term for his success in leading Iraq to regain one-third of its territory, which was controlled by the extremist organization since the summer of 2014.

But Abadi will face fierce competition from his allies within the Shi’ite majority who has been prime minister since the overthrow of Saddam Hussein’s regime in 1979-2003.

Although Abadi and Nuri al-Maliki, his predecessor in the presidency of the government (2006-2014), belong to the Islamic Dawa Party, they are running on two separate lists after the party failed to put them on top of the list as they sought to fill the post. He considered the leader of the Dawa Party Jassim Mohammed Jaafar (Turkmani) that “Abadi is the most likely to fill the position for a second term through the list of victory that he heads.”

In the name of the list, Abadi tries to remind voters that he led the country to victory over the organization of the Islamic state through three-year military campaigns supported by the US-led coalition.

Jafar, the most prominent candidates in the list of the coalition victory, “inevitably priority for the slaves and the atmosphere of the general, taking a second term for many reasons, including his performance and achievements, calmness and acceptability that he enjoys internally and externally.” But did not hide his concern about the possibility of repercussions because of the withdrawal of blocks from the coalition victory after a short time of accession.

The Fatah alliance joined the Abadi coalition and withdrew after only one day in January.

The Fatah alliance includes 18 political wings of the Popular Popular Forces (pro-government Shiite forces), most notably the Badr Organization led by Hadi al-Amiri and Asa’ib Ahl al-Haq, led by Qais al-Khazali, one of the most loyal factions of Iran.

The majority, backed by Tehran, have contributed to defeating the organization of the Islamic state but face charges of widespread abuses against Sunnis and Kurds in the north and west of the country, while the leaders deny any systematic violations.

The leader of the Islamic Dawa Party believes that there are three scenarios for the next government in Iraq:

Jaafar explained that the first scenario is the formation of a consensual government headed by Abadi and the second is the formation of a majority political government headed by Maliki, the last scenario is the arrival of a Shiite figure to power close to Saudi Arabia and the United States.

Other competitors

There are other names have the chances of varying degrees to reach the presidency of the Iraqi government, although it depends on the results of the elections, as experts see in the Iraqi issue.

“The TRADITIONAL LEADERS LIKE MALIKI, WILL NOT RUN FOR THE UPCOMING ELECTIONS,” said political expert Ahmed al-Abyad, adding that instead “Maliki will seek to push candidates to the forefront to fill the post (prime minister).” He favored the nomination of “former deputy speaker of the parliament Qusay al-Suhail or the current Minister of Labor and Social Affairs Mohammed Shiaa al-Sudani, as the coalition of the crowd (Fath) push Interior Minister Qassim al-Araji (belonging to the Badr bloc) as a rival candidate for slaves.”

The Iraqi prime minister has traditionally enjoyed the blessing of Iran, close to the Shiite rulers of Baghdad, as well as the blessing of the United States that toppled Saddam’s regime and occupied Iraq until late 2011.

White said that “the American influence will be the largest this time in the Iraqi elections and the nomination of the Prime Minister”. He added that “THERE IS A SIGNIFICANT DECLINE IN THE ROLE OF IRAN, especially as it was counting on the Shiite National Alliance as a dominant bloc, but the latter is no longer so, especially that the alliance of Sawsan, which is supported by the Sadrists (led by the strong cleric Moqtada al-Sadr) and the alliance Abadi far away from the Iranian mood and therefore did not Tehran is unique in its decision. “

Sunnis and Kurds are out of office

As has been the case for years, neither the Sunnis nor the Kurds will compete for the post of prime minister, but the two components look forward to holding the post as a moderate figure and fulfilling their demands.

“We are not rivals to our Shiite brothers for prime minister,” said Dhafer al-Ani, a deputy of the Iraqi Forces Alliance (the largest Sunni bloc with 53 seats out of 328).

“What matters to us is that the post is moderate and has a national vision and strengthens and solidifies the achievements that took place during this period and enables state institutions to play their role more widely.”

He ruled out focusing on one person ahead of the elections and said that “there are many candidates fit for prime minister, but it depends on the results of the elections and the votes they get, and this translates into understandings to be received later.”

“All that is issued by names is speculation, and no one can be certain until after the election results,” said MP Mohsen al-Saadoun, head of the Iraqi parliament’s legal committee.

“After many promises made during the past period, including the elimination of corruption, some have lost their chances,” he added.

“We have problems in the region that have not been resolved and our support for any bloc or candidate depends on its ability to implement the constitution and federal system in Iraq without selectivity and will not support any figure is unclear.”

Relations between Baghdad and Erbil are one of the most thorny issues facing the next Iraqi prime minister, who has deteriorated sharply since the September referendum in a referendum that Baghdad called unconstitutional and which the federal government called “punitive measures.”

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DID THE IMF REALLY REJECT THE 2010 IRAQI BUDGET?

One day this article pops out of Iraq about the 2018 budget:

Sumer News: The IMF announced its rejection of the federal budget for 2018 which the House voted to pass last week.

"The International Monetary Fund, announced its rejection of the financial budget for 2018, because it was contrary to the agreement signed between Iraq and the International Monetary Fund," adding that "the agreement between Iraq and the International Monetary Fund, obliges Iraq to implement A set of conditions, including the abolition of jobs and not to add financial burdens on the budget. "

"The inclusion of the budget by the government and the parliament by the decisions to install contracts and the reinstatement of their contracts and other financial burdens that have led the Monetary Fund to reject the budget," noting that "the decisions of the Iraqi government and parliament accelerated for electoral propaganda."

The House of Representatives, voted last Saturday, March 3, the federal budget law for the year 2018.




Then the next day this article pops out:

The IRAQI GOVERNMENT DENIED REPORTS THAT THE INTERNATIONAL MONETARY FUND REJECTED THE FINANCIAL BUDGET FOR 2018, because it is not in line with the agreement signed between him and Iraq.

Saad al - Sabri , spokesman for the Information Office of the Iraqi Prime Minister Haider al - Abadi, told the " Sputnik ", said that the budget for fiscal year 2018 approved in accordance with legal contexts between the Iraqi state institutions of the government and parliament , and all contained there in materials is not inconsistent with the terms of the International Monetary Fund.

(Mnt Goat – Obviously some entity is spreading misinformation. So who is to say this same entity is not also the TNT contact or some other Guru contact and is also lying to them too? Just saying…If so what is their intent, what is their goal in doing so? )

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KURDISTAN ALLIANCE HAS WITHDRAWN ITS DECISION TO CHALLENGE THE FEDERAL BUDGET FOR 2018

Baghdad – Mawazine News

The Kurdistan Democratic Party (KDP), the head of the parliamentary legal committee, Muhsin al-Saadoun, announced on Saturday that the Kurdistan Alliance has withdrawn its decision to challenge the federal budget for 2018, pointing out that the appeal decision needs a unified Kurdish decision.

He said Saadoun, in a statement reported by the Patriotic Union of Kurdistan viewed by / Mawazin News / “The Kurdish blocs will not resort to the Federal Court to challenge the federal budget for 2018 contrary to what is rumored.”

He added that “the blocks sought to prevent the passage of the draft federal budget law because of the reduction of the proportions of the Kurdistan region to have failed,” noting that “the decision to appeal or object to the budget law needs a unified Kurdish decision of the top leadership in the region.”

The House of Representatives ended on Saturday (March 3, 2018), marathon the budget by voting on its paragraphs, to go a long way and resolve the debate has been going on for months by approving the general budget for 2018 deficit exceeded the 12 trillion and 514 billion Iraqi dinars.

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BUDGET 2018 NOT YET RATIFIED

March 10, 2018

Iraqi President Fuad Masum said that the presidency will discuss only "technical errors and constitutional imbalances" in the federal budget law for the year 2018, not the percentage of the Kurdistan Region.

"The presidency of the republic received the federal budget law for 2018 after its adoption in parliament, and the LEGAL EXPERTS IN THE PRESIDENCY ARE STUDYING THE POSSIBILITY OF RATIFICATION OF THE BUDGET IF IT DOES NOT CONTAIN TECHNICAL ERRORS OR CONSTITUTIONAL IMBALANCE," said Masoum in a televised interview broadcast by Al-Sumeriya channel.

Adding the presidency follows this procedure in order to be reassured AFTER THE RATIFICATION.

"The PRESIDENCY WILL LOOK ONLY ERRORS AND GAPS IN THE BUDGET, IF ANY, AND NOT THE SUBJECT OF THE PROPORTION OF THE KURDISTAN REGION IN THE BUDGET," and said: "If we find a constitutional imbalance, we will contact the House of Representatives in order to reconsider it, and if they are free of errors and the constitutional imbalance, the Presidency of the Republic will pass the budget naturally.

The Iraqi parliament, despite the opposition and the boycott of Kurdish blocs, has approved in its meeting on 3 March draft federal budget law for the year 2018 parliamentary majority.

The Iraqi government led by Haider al-Abadi, in November last year, the share of the Kurdistan Region in this year's budget from 17 to 12.6 percent.

In addition to reducing the quota allocated to the Kurds from 17 percent as decided by the budgets of the past years to 12.67 during the current year, it is one of the punitive measures taken by the federal government against the Kurdistan Region following a referendum on independence on last 25 September, the mention of the region in the draft law as provinces and not as an entity, in addition to not allocate funds to the Peshmerga forces, which under the Constitution part of the Iraqi defense system.

(Mnt Goat – everyone should realize that the Iraqi Constitution is very clear, which is the ratification of the President of the Republic on the budget law within 15 days and if not ratified after the passage of the above is considered the law ratified it, in the sense that the Constitution does not care whether the President of the Republic or not ratified to consider that his ratification honorable.)

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STABILITY OF THE EXCHANGE RATE, CENTRAL RATE TO MARKET RATE 

(Mnt Goat – remember they are talking still about the “CBI program rate vs the Iraqi market rate on the streets” and not the rate to be announced on FOREX when the reinstatement occurs.

Also we are dealing with a translation from Arabic to English here to I will try to explain this to you. )

Baghdad / Hussein Thugb 

The recovery of the Iraqi dinar and the stability of the exchange rate leads to the strengthening of international confidence in the national economy, where local markets indicated an increase in the value of the Iraqi dinar against the dollar and CONFLICTING VIEWS ON THIS AND CAME THE OPINION OF THE CENTRAL BANK TO BE THE SUBJECT.

(Mnt Goat – this last sentence is telling us why they are publishing this article. They are doing this to explain and clarify the MCP and its impact on the monetary system especially for the citizens and people like Frank26 intel guru who, still does not get it. Yes - Frank the MCP is important and like the Sept 25th KRG referendum to succeed from the GOI, you can’t just poo poo it (and ignore it) and it will go away. There is a reason why they are telling us this today. So wake up and listen. They are taking the time to publish this long article to inform us this is what is holding up the reinstatement. Are you listening?)

Director of Operations at the Central Bank of Iraq, Mahmoud Dagher, said that "the improvement of the value of the Iraqi dinar against the dollar recently, is not a new phenomenon, but the outcome of the work continued for a full year, was through the IDENTIFICATION OF LARGE MEASURES ON THE PROCESS OF CURRENCY PRESENTATION AND ADDRESS VIOLATIONS OF DEMAND.

Classification and audit and noted that "OVER THE PAST YEAR WE WERE ABLE TO ACHIEVE GREAT STABILITY OF THE UPPER AND LOWER LIMITS TO THE DOLLAR either Aldnyar, and then we moved to a new situation this year , represented a new classification procedures adopted and auditing, as well as the offer." Greater coverage and added that " it is hard to be one variable indicator in this change , there are several measures and cover greater demand for the dollar, as well as emphasis on control over the sales operations with banks and regulate this process accurately based on classifications.

And Dagher that the improvement of the performance of the Iraqi economy and the transition from the state of war to the state of peace has been a reflection on the performance of various joints of the Iraqi economy, including clear monetary policy. Coincided with adjusting measures and pointed out that "demand for the dollar by selling window has not changed, but that has occurred, to initiate a relatively larger coverage on demand coincided with adjusting measures , " NOTING THAT "THERE ARE INCONSISTENCIES IN THE MARKETS SOMETIMES INDICATE PRICE LEVELS RELATIVE."

(Mnt Goat – this last statement is referring to the market rate vs the “official target” CBI rate called the MCP (multiple currency practice). The IMF needs them to be able to control the rate of their currency in- country first prior to letting it go international. This is he entire point of monitoring the MCP. So is Iraq able to do this based on what you are reading today?)

He said: "The official target price of the dollar is 1200 dinars per dollar," pointing out that "the gap in the exchange market in the presence of a fixed price adopted by the central is available in many economies, an acceptable change."

(Mnt Goat – this last paragraph is very important. Did you read it? It says and I quote – “the gap in the exchange market in the presence of a fixed price adopted by the central is available in many economies, an acceptable change." This means the IMF wants this gap in the market rate vs the central bank rate to be within an acceptable range. We know this range is +- 2%. Folks I am not making this stuff up. Their words not mine….)

The CBI must work towards the goal. He stressed that the year 2018 witnessed additional measures aimed at addressing the gap in the exchange rate of the dinar against the dollar and continue to work to achieve the goal, and in the absence of a shock of different types lead to confusion of the market, THE CENTRAL IS ABLE TO ADDRESS ANY DIFFERENCE AND ALSO ABLE TO IMPROVE THE PERFORMANCE OF THE PURCHASING POWER OF THE CURRENCY NATIONAL and upgrading service to the citizen, and that some 28 million Iraqis will benefit from improved purchasing power and must work economic policies combined classification electronic and alerted Dagher to the Central Bank covers the demand for the dollar officially and has not changed from what it was during the past year, according to the request of banks, according to classification.

The demand for the dollar cover and take place in accordance with the classification process is electronic, and the bank that aims to increase the demand , it is upgrading attic.

Cash reserves - he stressed that the cash reserve of Iraq exceeded (50) billion dollars, and it is time for banks to diversify their portfolios through the settlement of salaries through ways to attract traders and importers who are more familiar with the market, and should work in this direction in the future. The steps of the development of the Executive Director of the Association of Iraqi private banks Ali Tariq stressed that "THE MECHANISMS OF THE ASSOCIATION SUPPORTS EFFORTS TO STABILIZE THE EXCHANGE RATE AND THE STRENGTH OF THE IRAQI DINAR, WHICH HAS GRADUALLY RECOVERED DURING THE LAST PERIOD."

Tariq pointed out that "the Association represents a source of support for the work of the Central Bank of Iraq, which took on a series of measures that ENHANCE THE REALITY OF THE FINANCIAL SECTOR, AND THUS ENHANCE THE VALUE OF THE EXCHANGE RATE OF THE DINAR," noting that "the promotion of human resources is the most important steps to develop the field of banks and advanced services that The Association has prepared an integrated annual plan in this direction to raise the efficiency of employees in the banking sector, both public and private, which in turn strengthens the strength of the financial sector in all its details.

(Mnt Goat – is this not what I have been telling you all along – enhance the financial sector through the economy thus enhance the rate (value behind) of the dinar. )

He pointed out that "THE STABILITY OF THE EXCHANGE RATE IS AN IMPORTANT STEP IN SUPPORT OF THE NATIONAL ECONOMY AND INCREASE INTERNATIONAL CONFIDENCE IN ALL ITS JOINTS." Monetary policy economist Samir al-Nusairi had pointed out that the great and extraordinary efforts made by the Central Bank of Iraq during the past two years greatly influenced the development of monetary policy tools and the specific procedures of the specialized departments in the Central Bank and direct supervision of the banking sector and its assessment and classification in accordance with international standards, The banks, which were supporting the implementation of the plans of the Central Bank, contributed significantly to the recovery of the Iraqi dinar compared to the US dollar exchange rate.

(Mnt Goat – I quote from the paragraph above – “THE STABILITY OF THE EXCHANGE RATE IS AN IMPORTANT STEP IN SUPPORT OF THE NATIONAL ECONOMY AND INCREASE INTERNATIONAL CONFIDENCE IN ALL ITS JOINTS” . Why would they be concerned about international confidence in the dinar if they wanted to stay in a closed, sanctioned economy? The answer is in the next paragraph below)

He stressed that "the Association of Iraqi private banks and urged the departments of banks ON THE NEED TO SUPPORT THE DIRECTIONS OF THE CENTRAL BANK IN THE SERVICE OF THE NATIONAL ECONOMY AND HARNESS THE POTENTIAL OF PRIVATE BANKS TO ACHIEVE THE CENTRAL GOAL is TO WORK ON THE RECOVERY OF THE IRAQI DINAR AND RAISE ITS MONETARY VALUE AND PURCHASE AGAINST THE US DOLLAR," noting "the importance of working on the continuation of the situation recovery and to take advantage of the economic and investment openness from the countries of the world to Iraq. "

(Mnt Goal – the goal of all this effort to recover the value of the dinar and I quote – “TO WORK ON THE RECOVERY OF THE IRAQI DINAR AND RAISE ITS MONETARY VALUE AND PURCHASE AGAINST THE US DOLLAR” thus they mean reinstatement on the international arena. Folks the news could not get any better than this. So then a second article pops out on the exact same topic. SEE BELOW. Why? Because they had a press conference and multiple news media stations attended thus each wrote their own version of the story. The fact that this news conference was held tells us so much. I believe this MCP issue is winding down to the last week of the mandated 90 day period by the IMF. The Reinstatement window is getting very close at hand. I expect that TNT will have the final exchange process procedures to us soon to help set the rules of engagement with the banks.

But please do not buy into this everyday / any day nonsense coming from these idiots like Becky and others. They are so far in outer space with their ideas of this “New Republic” nonsense I can hardly keep from laughing. Yes, we had another good laugh over glasses of wine as her calls have become a source of entertainment for us. We now invite friends (also investors) over too to listen to the nonsense and they too can hardly believe just how foolish it is and how brainwashed these folks really are. There is absolutely no substance or detail to her intel. Just a bunch of hype on Saturday and Wednesday. Did you get your dose of hype and hysteria this week? So now she is collecting donations from listeners for a couple needy families in Puerto Rice? Really? Say goodbye to your donations. Yes, another illegal charity scam that does not report these donations to the IRS. Oh – but the IRS does not matter she says since it is all going away as part of the “New Republic”…..

Yes these are great scams and we see many of them playing out. Oh – poor Becky, she stays up at night and is taking so much of an effort and works soooo hard to bring you the intel. Yet when you ask a simple question on Q & A about the Iraqi dinar, she states she does not follow it. This goes the same of the Dong. So what intel does she work so hard to get for you? Is it sighting the bombers overhead “flying around over all the major cities to protect us during the RV”? That’s her words not mine by the way….good luck everyone with her….lol…lol….)

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CENTRAL BANK WAS ABLE TO ACHIEVE HIGH STABILITY OF THE UPPER AND LOWER LIMITS TO THE DOLLAR, THE DINAR

Economy News _ Baghdad

The head of operations at the Central Bank, Sunday, said that the reserve currency in the Central Bank exceeded (50) billion dollars.

"The time has come for banks to diversify their portfolios through the settlement of salaries through ways to attract traders and importers who are more familiar with the market, and should work in this direction in the future," said Mahmoud Dagher. .

He pointed out that "the improvement in the value of the Iraqi dinar against the dollar recently, IS NOT A NEW PHENOMENON, BUT THE OUTCOME OF THE WORK CONTINUED FOR A FULL YEAR, was through the identification of significant measures on the process of currency presentation and address the violations of demand.

Dagher added that THE CENTRAL BANK WAS ABLE TO ACHIEVE HIGH STABILITY OF THE UPPER AND LOWER LIMITS TO THE DOLLAR, THE DINAR, and then moved to a new situation this year were new procedures adopted classification and scrutiny as well as supply.

(Mnt Goat – again they are talking about the +- 2% upper and lower limits of the market rate vs the Central rate)

However, "THE OFFICIAL PRICE TARGET OF THE DOLLAR IS 1200 DINARS PER ONE DOLLAR AND THAT THE GAP IN THE EXCHANGE MARKET IN THE PRESENCE OF A FIXED PRICE ADOPTED BY THE CENTRAL BANK IS AVAILABLE IN MANY ECONOMIES, AN ACCEPTABLE CHANGE.

(Mnt Goat – this last paragraph is telling us the MCP % that is now occurring is acceptable and I quote - “Available in many economies, and acceptable change”. It is not strange that the CBI publishes such an article at this time since they are nearing the 90 day mark of the monitoring period of the IMF for the MCP. Remember what the MCP is? The MCP is the gap in the exchange market rate to the fixed price adopted by the CBI and pegged to the dollar.

Folks this is amazing news and just what we wanted to hear and would expect at this time. Hold on to you seats they are about to launch the lower denomination categories….)

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Articles End

Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,

Just the FACTS!

Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.

In ending I want everyone to know your constant prayers in the fight against evil (ISIS) in Iraq have worked. God has guided these young men and women on the battle field. Let us all now also keep praying. I have composed a prayer maybe we can all pray today in our own way and until the revaluation occurs.

PRAYER

“For the prime minister and all his cabinet members, and parliament that they may be anointed by the Holy Spirit to do God’s will and bring the free Republic of Iraq to the much-deserved prosperity and abundance thru justice and freedom from oppression and corruption”. That they may be a shining example for the rest of the middle east and the world to follow. In the name of Jesus Christ our King and Savior, Amen”

Auf Wiedersehen 

Much love to ya all, 

Mnt Goat