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Friday, June 1, 2018

TWW's Kuwait RI Exchange Story,1 JUNE

Post From IQDCalls Chat Room
TWW's Kuwait RI Exchange Story


TWW:    Back in the 70's I was working for an developer in Hawaii where I met an architect/developer from Riyada. Ahmed & his wife bought 2 water front condos thru me. We three went to dinner and he proposed a job opportunity to produce market studies & marketing material for possible property investments.
 
This position was in his Riyada. The future developments would be in Abu dhabi, Bahrain & Kuwait. I went to work the in 1988-1989. I was paid thru a bank in the UK via plastic card in USD. But my monthly bonuses were also paid in USD & KWD for the 2 yrs. He explained that the KDW was on the way with a RI. For this could be the best bonus plan ever.

He spoke often abt the KWD. He had a friend, cousin, in the currency biz. (They didnt hav laws abt inside trading there.) My pay was very good so I bought quite a few KWD also thru his cousin.

​As I left SA bk to the USA I had shipped most of my KWD to a family member to keep sealed until I returned bk home.
 
Ahmad called my from the UK for me to call one of his connections here IN the USD, NYC. His contact then called me in mid December in1990 & instructed me about Kuwait Re-Instituting their currency very soon, KWD. At that time the KWD was worth 5cents to the USD.
 
He gave me the date the exchange was going to be available. I flew to NYC to do my exchange with Ahmed's friend Omar. The exchange for the KWD to the rate went to 3.41USD.
 
Their currency did not RV, they had a currency so they RI'd their currency............... With that being said I propose this: Abadi takes suggestions from Kuwait...remember the conference?
 
That was to see what other Arab leaders thought abt the IQD values when it comes to investing in Iraq. We know what happened at the conference.
 
So now Iraq is still following Kuwait assistance on how they went thru the RI process. Iraq may not RV but follow Kuwait experience and RI. This my MOHE (my own humble experience & true to life event.)

TWW    I do believe the IQD will not RV as we know it but to follow Kuwait's own RI Iraq will follow them

TWW    Due to the RI in Kwait & them setting up the huge conference in recent months, I can't believe many other conversations took place due to the fact that IQD basically was worthless to other  arab investors

US will support Iraq on its way to a more prosperous future | IQD Dinar ...

KTFA: "Not for Long" , 1 JUNE


KTFA

DELTA » May 31st, 2018


EXCHANGE RATE... IRAQI MARKET BUY & SELL

27-May 1196 ......1193
28-May 1197 ......1193
29-May 1197...... 1195
30-May 1197...... 1193

CJVM » May 31st, 2018

Thank you, Delta! The bank can't make much profit with that spread.

Sunkissed » May 31st, 2018

It appears that they are manually manipulating the rate at 1193 following the slight rise in the USD in order to keep the IQD and USD in parity with one another: 1 to 1. IMO

GEM » May 31st, 2018

So Delta in your opinion how long can Iraq continue the auction with only making pennies to zero cents of the sale of the dollar?

DELTA » May 31st, 2018

NOT FOR LONG .....I PROMISE U.....ALAQ KNOWS THAT TOO....

Frank26 » May 31st, 2018

THE PARITY ................ HOLDS.

DELTA » May 31st, 2018

YES ...(big grin)

Iobey777 » May 31st, 2018

well, only 1 more day in May, then June 1! I'm praying that June 1 is the date they have set to show the RI to the world! Close the books and start the new month with a new rate! It could happen!! (smile)

Rs4Christ » May 31st, 2018

yes tomorrow (Thursday) is their payday... It would be nice to see tomorrow!!!!

McDan » May 31st, 2018

Thanks Delta this will be interest to see if the IMF Holding Rate stay the same for IRAQ at the end of May 31. The IMF Holding Rate for Iraq has stayed on a yearly basis in the past 15 years.

The IMF report of the Iraq SDR Holding Rate could show if the Iraq Dinar is on a float IMO . The report will show as of the May 31. 2018 IMF Holding Rate for the Iraq Dinar .

Samson » May 31st, 2018

Total disruption of Internet in Iraq


2018/5/31 9:48

Iraq has seen since the dawn of Thursday, a complete interruption of the Internet service.

The service returned gradually and somewhat after 9 am Baghdad time. 

There has not yet been any clarification from the Ministry of Communications about the reason for the interruption, which confirmed earlier not to discontinue service in conjunction with the final exams for the third stage of the medium, which began days ago, which makes this interruption mysterious until now. LINK

The Central Bank announces that all banks will be required to replace the damaged currency and threaten the violators

2018-05-31 at 14:10 (Baghdad time)

The Central Bank of Iraq, on Thursday, the need to commit all banks to replace the damaged currency without commissions.

The bank said in a statement received by Mawazine News that "the banks approved all compliance obligation issued by the Department of Issuance and Safes in 2017, which includes replacing the damaged currency without the payment of commissions in return for that."

He added that "non-compliance will be borne by the bank violating all the legal consequences in accordance with Article 63 of the Central Bank Law No. 56 of 2004 amending."

He called on the banks to "provide him with the disclosure of the damaged amounts replaced by them and received from the public until 31 May," stressing that the answer "must be received within 3 days of the date of writing." LINK

A demonstration for employees of the Ministry of Housing in central Baghdad to protest the delay in the payment of salaries

30th May, 2018

Dozens of employees of the Ministry of Construction and Housing, on Wednesday, in front of the headquarters of the ministry to protest the delay in the payment of salaries. 

A reporter for Alsumaria News, said dozens of employees demonstrated in front of the headquarters of the Ministry of Construction and Housing in the area of ​​Alawi in central Baghdad. 

The correspondent added that the demonstration comes in protest against the delay in the payment of salaries of these employees, where they confirmed that they are supposed to receive their salaries since the 18th of this month.

Of their children, some of the employees denounced the demonstrators by granting them "compulsory leave" by the ministry. LINK

Iran declares its readiness to establish a border economic market with Iraq

31st May, 2018



The head of Iranian customs, Farud Askari, confirmed on Thursday his country's readiness to establish a border economic market with Iraq, while revealing that Iraq is currently the third export destination for Iranian goods.

"Iran and Iraq have always had an active trade exchange," Askari said at a joint border meeting between the Iranian provinces of Ilam and Wasit in the western Iranian city of Ilam.

He added that "the borders of Mehran is one of the most important borders of the country to develop commercial activities and transit of goods and the transit of passengers," pointing out that "despite the availability of all energies and security settled, we have witnessed a sharp decline in exports of goods through the port of Mehran to Iraq, a billion dollars last year.

He explained that "the most important need within the borders of Mehran is the opening of the transit gate and of course we aim to implement the comprehensive project to the borders of Mehran and to expand the customs area by allocating the necessary budget for that," stressing that "the need to allow the entry and exit trucks in the borders of Mehran and Zurbatiya to the territories of the two countries."

"One of the measures that will lead to the development of exports within the borders of the two countries is to access the information of goods entering and out, including, for example, that officials of the borders of the two countries accept the images taken by the X-ray system of goods and trucks."

He pointed out that "the approval was made on 50 export items in terms of standard specifications and requires the approval of Iraqi officials to do so," asserting "the readiness of Iranian customs to establish a border (Jnkula) border."

"This is necessary because the trucks did not cross from the Mehran border during the 40th visit period," he said. LINK

TNT UPDATED, 1 JUNE

TNT:

GreatlyBlessed:  No, Dodd-Frank was neither repealed nor gutted. Here’s what really happened

The largest legal change to financial regulation since passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 just occurred. This new law neither repeals nor replaces Dodd-Frank as House Speaker Ryan claimed nor does it ‘gut Dodd-Frank’ as some of its opponents argue.

Here are five false narratives promoted about the new bill, along with a surprising ramification of what passage of this legislation likely means: Dodd-Frank is here to stay.

FALSE NARRATIVES:

1. The bill repeals and replaced Dodd Frank.
....
To the contrary, the legislation leaves intact the core Dodd-Frank framework: increasingly tougher regulation on larger banks, new authority and discretion for the Federal Reserve, enhanced authority for the federal government to unwind a failed financial institution, and the creation of new federal regulators, including the Consumer Financial Protection Bureau (CFPB). The legislation itself does not touch the CFPB, a key requirement for Democratic congressional support.

The House of Representatives did consider a true repeal and replace, the CHOICE Act, which passed the House with no bipartisan support in June 2017. The core of that legislation was rejected by the Senate, which reached a different bipartisan deal that attracted the support of 17 Democratic Senators.[1] The Senate bill passed verbatim by the House, where almost all Republicans joined 33 Democrats to pass this law. Congress rejected the CHOICE Act’s repeal and replace and instead embraced the Senate’s modifications of existing law.

2. This law ‘guts’ Dodd-Frank.

The major change cited in this argument is the increase of the so-called ‘Bank SIFI’ threshold, which increases the size at which a bank is subject to enhanced regulation by the Federal Reserve. Dodd-Frank set this line at $50 billion, unindexed for inflation or economic growth. The law raises this figure to $250 billion, with an important caveat that the Federal Reserve retains the discretion to apply enhanced regulatory standards to any specific bank greater than $100 billion, if the Fed feels that is warranted.

Dodd-Frank attempts a difficult balancing act in regulating large banks. The idea is to internalize the negative externalities that a large, complex financial institution creates through the imposition of higher regulatory scrutiny, specifically through higher capital standards and other forms of enhanced regulation.

This was Dodd-Frank’s solution to the debate raging at the time, between nationalizing and breaking up the largest banks or allowing the market to determine proper bank size. Dodd-Frank delegated, largely to the Federal Reserve, the important task of how to set the scales to achieve this balancing act. The new legislation goes further down this path, granting the Fed greater discretion in how to set those scales for institutions between $100 and $250 billion, including providing the option of essentially no penalty for size. Congress is changing the weights on the scale, and is empowering the Fed even more, but it is continues the Dodd-Frank structure.
3. Major new lending is coming to individuals and small businesses.

This is the argument put forth by many in Congress and within the banking industry. As the Independent Community Bankers Association argues: “The new law will spur greater consumer access to credit and business lending in Main Street communities nationwide.” There is no direct provision in this law that accomplishes this and the argument that reduced regulatory costs for a subset of banks will translate into more lending as opposed to greater profits is just speculation.

Bank profits just reached a record $56 billion last quarter, and small business lending by community banks is already growing twice as fast as that by large banks, according to the FDIC. The new tax law and this new bank de-regulation law will continue to help boost profits, what trickles down in lending is less clear.

Consider two provisions of the new law: the repeal of Truth-In-Lending Act protections for certain mortgages on mobile homes, and the exemption of small banks and mortgage lenders from enhanced reporting of data to detect racial discrimination (known as HMDA+).

The mobile home provision does not even touch banks, big or small. Instead it exempts manufactured home retailers and their employees from TILA requirements, ultimately perpetuating “the conflicts of interest and steering that plague this industry and allow lenders to pass additional costs on to consumers,” according to the Center for Responsible Lending.

Mobile home buyers will have less visibility into true costs, making it harder to shop for the best deal. An argument that boils down to the extra profit generated by steering consumers to products not allowed under Truth-In-Lending, may produce more marginal mobile home purchases, is weak.

The second provision targets banks that originate between 100 and 500 mortgages a year, exempting them from collecting enhanced data used to detect predatory and racially discriminatory mortgage lending. Those banks originate only around one out of seven mortgages and are competing with other national mortgage lenders who are subject to this data-reporting requirement. In the scope of a nationally competitive mortgage origination business, with far greater costs and inefficiencies than this additional data, it is hard to see how any savings will translate to borrowers, or how additional mortgages will be made.

However, it could allow for greater undetected steering of minorities to higher cost mortgages – which was prevalent during the housing boom – as well as create more false positives where traditional information show discrimination but enhanced data would demonstrate otherwise.

These two provisions are both bad policy and unlikely to spur greater overall lending. Instead, they are likely to generate higher profits for the providers of credit and potentially worse terms for borrowers.

4. This law fulfills President’s Trump promise to ‘do a big number’ on Dodd-Frank.

A bill signing ceremony is a natural moment for a President to say he has delivered on a campaign promise. The lack of major legislative achievements for President Trump and the Republican Congress only compound the pressure to argue that this bill does more than it actually does. This is Congress’s likely only bite at the apple on financial reform.  Dodd-Frank survives Trump’s first two years.

To the Trump Administration’s credit, its thinking has evolved to see the benefits to major components of Dodd-Frank. For example, the Treasury Department’s report on Dodd-Frank’s failure resolution regime (Title II of Dodd-Frank) recommended keeping it with only minor modifications. This stopped efforts in Congress to repeal Title II, which remains in place.

Ultimately, the success of the Dodd-Frank framework depends on the prudence and judgment of the financial regulators who are generally given substantial authority and discretion in applying the Dodd-Frank framework. As Trump finally assembles his regulatory team – the last major piece of which was the Senate’s confirmation of the new FDIC Chair McWilliams on the same day the new law was signed – the efficacy of Dodd-Frank under a new regime will be tested.

Trump may still deliver on his promise, not by legislation, but by the actions of financial regulators he appoints. Appointing his top budget staffer, Mick Mulvaney, as Acting Director of the Consumer Financial Protection Bureau, has resulted in a series of major rollbacks and revisions of key rules and regulations to protect consumers and prevent many of the abuses that were at the heart of the financial crisis. If the CFPB is the cop on the beat patrolling against unscrupulous lending, Mulvaney, as the new chief of police is ordering the force to take a nap.

5. The legislation meaningfully addresses #EquifaxScandal.

The Equifax scandal broke during consideration of the legislation, pressuring Congress to do something. Unfortunately, the legislation does not address the fundamental problems inherent in the credit reporting system, including that 1 out of every 4 readers of this piece has a material error on their credit report.

Congress settled on a small provision regarding the right to freeze credit reports without cost, while also providing Equifax and the other bureaus a major victory by limiting their liability for certain lawsuits regarding credit monitoring services they provided.

Author

In financial regulation, scandals are often the drivers of legislation to fix problems both exposed from the scandal and long festering. This bill does neither for credit reporting agencies nor for other recent financial scandals, such as the Wells Fargo fake account scandal.

KEY TAKEAWAYS FROM THE NEW FINANCIAL LAW

Despite Republican control of Congress and the White House, Dodd-Frank’s structure remains largely intact. If this legislation is the largest change made to Dodd-Frank during Trump’s time in office, then Dodd-Frank will have survived its first major political test.

The failure of the Republican Congress to alter significantly Dodd-Frank does not mean that it will remain effective. Personnel changes are a far greater threat to Dodd-Frank’s success than this new law. And just because the law’s impacts are not likely to threaten financial stability does not mean that they are not problematic and will not result in significant problems for certain borrowers (check back for scandals where the CFPB pulled back or in mobile homes in a few years).

Finally, it is important to note that even for those who disagree with many provisions of the new law, there are some that are positive.

The law changes a definition by the Federal Reserve on the treatment of certain municipal debt to allow it to count for a regulatory requirement for greater liquidity.

It also creates a reasonable parity with the treatment of corporate debt, striking a better balance for the financial system and ultimately allocating more capital to municipal governments. Hopefully they will use to build more infrastructure as it has become clear that is another campaign promise that Trump will not fulfill this year.

Editor's Note:

This report is part of the Series on Financial Markets and Regulation and was produced by the Brookings Center on Regulation and Markets.

https://www.brookings.edu/research/no-dodd-frank-was-neither-repealed-nor-gutted-heres-what-really-happened/

TNT Dinar Call w/Tony & Rayren98

TNT: "All Required for the Release is Done", 1 JUNE

TNT

Yada:

As Tony stated,,all required for the release is done,,what we are seeing is the strategy of the removal of those who were stealing money and the removal of Iranian influence

KajunRedBull:
I think they have the numbers to end this and once the process has run its course by tomorrow it will take on warp speed as Abadi opens the flood gates for reforms. We may be dancing this weekend!

Sooneriam:
Somewhere over the rainbow a public exchange and RV are waiting for me

Hang on tight during the roller coaster ride. Keep all hands and feet and body parts inside during the ride…..Keep all your foreign currency in a secure pocket during the ride so you do t lose it during the roller coaster ride. Have a great super fantastic TNT day.

Harambe:
Reuters: Iran seeks OPEC support against U.S. sanctions: letter
https://reut.rs/2H51CSA

Bloomberg: Indonesia's Two Interest-Rate Hikes May Not Halt Rupiah's R​out
https://www.bloomberg.com/news/articles/2018-05-30/indonesia-s-two-int​erest-rate-hikes-may-not-halt-rupiah-s-rout

CNBC: Oil sinks despite bigger-than-expected drop in US crude stockpil​es
https://www.cnbc.com/2018/05/30/oil-markets-unexpected-growth-in-us-cr​ude-stocks-in-focus.html

Bloomberg: Global Oil Prices Go Separate Ways in Sign of Market Discor​d
https://www.bloomberg.com/news/articles/2018-05-31/global-oil-benchmar​ks-pulled-apart-in-sign-of-market-discordance

Bloomberg: China's Role as Creditor to the World Is Fading
https://www.bloomberg.com/news/articles/2018-05-30/china-s-shifting-ca​pital-flows-pose-risk-for-emerging-markets

GreatlyBlessed:
Deutsche Bank’s U.S. Operations Deemed Troubled by Fed


Rare censure last year has influenced lender’s moves to reduce risk taking and required the bank to seek approval for U.S. hiring decisions

31st of May 2018 09:38:30 AM

By Jenny Strasburg andRyan Tracy 

The Federal Reserve has designated Deutsche Bank AG’s DB -6.91%sprawling U.S. business in “troubled condition,” a rare censure for a major financial institution that contributed to constraints on its operations, according to people familiar with the matter.

The Fed’s downgrade, which took place about a year ago, is secret and hasn’t been previously made public. The “troubled condition” status—one of the lowest designations employed by the Fed—has influenced moves by the bank to reduce risk-taking in areas like trading and lending to customers.

It also means the bank has had to clear decisions about hiring and firing senior U.S. managers with Fed overseers. Even reassigning job duties and making severance payments for certain employees require Fed approval, the people said.

The punitive action by the Fed, the bank’s primary U.S. regulator, has rippled through Deutsche Bank’s relationships with other regulators, including the U.S. Federal Deposit Insurance Corp., which has pressured the lender to improve controls and oversight, people familiar with those relationships said.

Deutsche Bank shares fell 5% on the news.

The U.S. system for rating banks is called “CAMELS,” which stands for capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk. A bank’s topline rating, from 1 to 5, takes into account all those categories. The best rating is “1.” Troubled banks are rated either “4” or “5.” Scores aren’t made public.

A downgrade by the Fed has also landed the bank’s FDIC-insured subsidiary, Deutsche Bank Trust Company Americas, on the FDIC’s “Problem Banks” list of at-risk institutions, according to people familiar with the matter. The FDIC doesn’t detail the membership of the list, but does say how many banks are on it and the combined value of their assets. The list’s asset total rose by $42.5 billion in the first quarter; Deutsche Bank Trust Company Americas, the bank’s well-capitalized American deposit-taking unit, had $42.1 billion in assets as of March 31, according to regulatory filings.

Banks are added to the list after they receive a “4” or “5” overall rating from their primary regulator. How those banks fare later shows how firms do sometimes recover from harsh ratings.

Of the 1783 institutions designated “problem banks” between January 2008 and March 2017, 854 recovered and shed the label, 523 failed, 294 merged, and 112 remained in problem status, the agency said in its history of the financial crisis.

A Fed spokesman declined to comment. An FDIC spokesman declined to comment.

A Deutsche Bank spokeswoman said the bank doesn’t discuss “specific regulatory feedback.” She said that Deutsche Bank AG, the parent company, “is very well capitalized and has significant liquidity reserves.” The relevant U.S. subsidiaries are “DB USA Corp, Deutsche Bank Trust Corporation, and Deutsche Bank Trust Company Americas, our principal U.S. banking subsidiary, which has a very robust balance sheet as disclosed in our annual and quarterly regulatory filings.”

The bank spokeswoman added: “We have previously indicated that our regulators have identified various areas for improvement relating to our control environment and infrastructure. We are highly focused on addressing identified weaknesses in our U.S. operations.”

The problems that spurred the downgrade, and the complexity it injected into daily decision-making and long-term planning, help frame one of Deutsche Bank’s biggest challenges. The bank is struggling to curtail costs and risks in a huge market where, according to the bank’s executives, it must be present to maintain its global reach.

But obstacles to making money in the U.S. have become tougher as Deutsche Bank has piled up legal settlements and raced to improve outdated technology. The added scrutiny that comes with the Fed’s “troubled” label brings headaches that other banks don’t have to contend with.

For Deutsche Bank, the effects of disappointing the Fed continue to reverberate in recent decisions under new Chief Executive Christian Sewing to pull back from certain kinds of lending and trading activities, some people close to the bank said.

Mr. Sewing was named CEO in early April with the ouster of John Cryan after three consecutive full-year losses.

The new German boss said last week Deutsche Bank will cut thousands of jobs, and reiterated plans to reduce the lender’s global equities business and other investment-banking activities.

Groundwork for the risk pullback was laid last year as Deutsche Bank’s performance lagged. Fed supervisors grew exasperated with its shortcomings in systems and controls and the slow pace of improvements, people familiar with internal discussions said.

Deutsche Bank’s U.S. operations have drawn regulatory ire for years. They received a stinging rebuke from the New York Fed in 2014 about repeated financial-reporting failures and lack of follow-through on promised fixes, The Wall Street Journal detailed.

Deutsche Bank U.S. operations failed the Fed’s stress tests in 2015 and 2016, and in 2017 was the subject of multiple Fed enforcement actions for perceived lax controls tied to currency trading, money laundering, and Volcker-rule trading restrictions. Deutsche Bank has also paid billions of dollars to settle allegations stemming from U.S. Justice Department investigations.

Last year, the Fed repeatedly cited concerns privately to the bank about its controls around measuring financial exposure to clients and valuing collateral that backed loans, according to people close to the bank.

Portions of the Fed’s criticisms suggested to Deutsche Bank executives they needed to pull back on so-called repo financing—short-term lending typically based on securities-repurchase agreements—to hedge-fund clients and other banks. Within the investment bank last year, some executives privately complained that repo exposures were less risky than the Fed depicted them, spurring debate over how much to dial back, some of the people with knowledge of internal discussions said.

The Fed also reupped its criticism of Deutsche Bank’s financial documentation. Examiners expressed frustration at what they described as the bank’s inability to calculate, at the end of any given day, its exposures to what banks and other clients it had in specific jurisdictions, and over what duration, some of the people said.

Write to Jenny Strasburg at jenny.strasburg@wsj.com and Ryan Tracy at ryan.tracy@wsj.com

https://www.wsj.com/articles/deutsche-banks-u-s-operations-deemed-troubled-by-fed-1527768310

DINAR GURUS UPDATE, 1 JUNE

6-1-2018   Newshound Guru Kaperoni   We're getting down there our records show the CBI only has about 13 days to meet IMF compliance.  Keep in mind though, we don't expect a CBI to move to Article VIII until the government is formed.  Also keep in mind that the IMF needs to have their Article IV Consultation with Iraq, I tend to think they'll happen at the same time as the transition to Article VIII.

6-1-2018   
Intel Guru Bruce   The other thing is we expect this information, this announcement, all the stuff that happened yesterday to come out in the Gazette tomorrow [Friday].  Now we are hearing that from our contacts in Arbil.  ...That information, everything that transpired, I think it is going to give us the information about Abadi again as Prime Minister. It should bring something to us as far as Iraq new status in the world, the rate, all the things we talked about showing up it should occur tomorrow [Friday] in Iraq.  ...I am hoping with the information I was getting today, it was indicating that something very good for us taking place and you know what that is maybe in the next 48 hours. ...We could have a very special weekend... Other than that the rates are still good...Yes we were correct it would be over $4... I brought over to you weeks ago...   [post 3 of 3]

6-1-2018   Intel Guru Bruce   Also what is happening in Iraq is there are 115...areas, let's call it... that are being paid in Iraq at the new rate and caught up for back pay that goes all the way to October 3, 2017. 115 different areas...of government are paying all these back pay on the Qi cards which are the debit cards Iraq has, and also they have a new Visa debit card that has been issued to all citizens that is used for a portion of the oil revenue sharing that goes to the citizens of Iraq. Guess when it is paying out. It is paying out on Sunday in Iraq which would be reflected on Monday for people that might be living in this country that could be citizens of Iraq. They would have it loaded on their cards ready to go.  ...I think that is really important.  [post 2 of 3....stay tuned]

6-1-2018   Intel Guru Bruce   We had a meeting yesterday at the United Nations that was the Security Council Meeting and it did deal with Iraq.  We did not hear from that meeting what it is we thought had reflected what occurred in Iraq earlier in the morning. They had an emergency meeting of the Parliament... Even though they had the meeting and they had a lot of positive things and supposed to be a “Big Announcement” coming out of that, it was kept from us by the United Nations. They did not want that released to us until guess when? Until tomorrow [Friday]. They did not want that information of the meeting and all the details about what it is we are looking for to be released to us until tomorrow [Friday]  [post 1 of 3....stay tuned]

6-1-2018   Newshound Guru Kaperoni    Iraq must prepare for an influx of investment capital...what I am telling you is what will happen...they cannot reduce the not [note ?] count until the auctions end...because that is how the auctions work...the auctions are a balance between dinar and dollars...the facts dont lie and the facts tell us they will leave the peg and float the dinar as investors bring capital into iraq...much of the information comes from all sources including documents, articles, reports, etc.   The IMF is very transparent and have been very accurate.   [post 2 of 2]

6-1-2018   Newshound Guru Kaperoni    June 15th or about is the 3 month IMF requirement...but that does not mean they will accept Article VIII at that time...it is a CBI decision...The CBI though should not wait.  The thing you must all realize is the dinar does not just rise arbitrarily if it is going to rise it will be as a result of significant investors/investment...  [But you stick to your float scenario...like glue...right?]  ...that is the only option...this is not a question of what they will do, we know what they will do...they can only float...the Balassa-Sanuelson effect is on our side...iraq must get off the peg and the choice is only to float...economics is not simple..and how a currency appreciates is not overnight, or magical it is the result of monetary policy...   [post 1 of 2....stay tuned]

KTFA UPDATED, 1 JUNE

KTFA:

Bluestar:  Hi Frank...I know you have always said that the monetary reform is on a different track than the GOA but isn't there a chance they will wait 10 days and declare Abadi as PM BEFORE the rate change?  Bluestar

Baghdad(IraqNews.com) Iraq's High Electoral  Commission said...in 10 days.
https://www.Iraqinews.com/baghdad-politics/iraqi-commission-parliament-votes-were-sound-challenges-welcome/  

Frank26:  IMO ............... THERE IS NOTHING TO DISPUTE THIS IDEA ............... NOR THE ONE THAT I ADHERE TO ............ THAT EVERYDAY HAS POTENTIAL AT THE RATE THE CBI IS TALKING RIGHT NOW......

KTFA KONA ................ I LEAVE YOU WITH THESE GREAT WORDS:

"YOU CAN COMPLAIN BECAUSE ROSES HAVE THORNS OR ...................... YOU CAN REJOICE BECAUSE THORN BUSHES HAVE .................ROSES."  
ABRAHAM LINCOLN 
....
***************

Lexi:  When is the 30 day mark for the government to form? ( I know it may take longer than 30 but...) Was the official start date of announcement of election results around May 17? Anyone? I feel IMO this is totally necessary to have a functioning government with less corruption before we find what we seek.  It makes perfect sense if every I had been dotted and T crossed at this point in the game it only makes sense that this is necessary as well imo. Wouldn’t you want a fully functioning government with a lot of the corruption weeded out before you release something on this scale? Most logical answer— yes! Imo

Hammy14:  Lexi, I completely agree with your assessment with one little caveat...Iraq has a fully functioning government now.  Abadi's administration is still running the show until the "new" government is announced, at which time we still expect Abadi to be at the helm for a smooth transition, but we do need this announcement, IMO.  The 30 day period is mid-June, but Sadr came out last Friday and said they would announce the new government within two weeks.  So, unless they backtrack on that, always a possibility, we should have that announcement within the next 7 or 8 days, IMO.

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

Batman80:  This is a bit random, but wanted to share an experience my wife and I had as encouragement ... My wife is a school teacher and has been teaching for more then 10 years. She is a believer, but not so much in this investment. She is more of a wait until I see it when it comes to the Dinar and I support her decision in lack of faith over a war torn country suddenly making you rich...

I tell her just don't ask me for any  when this thing pops lol!!!

Anyway, a few years ago she had a student in her 4th grade class that was from Iraq ( I believe in 2015). They came upon the subject of the Iraqi dinar (Mind you this is a 9yr old boy) because my wife had asked him if he had any dinars?

The boy (don't recall his name) said " Yes! I have some, but my father has millions! " " You need to hold onto this money because you WILL BE RICH!!! " "We are all going to be very rich!!! "

Again my wife is skeptical and didn't really want me spending any money in this investment at that particular time (Even though I had already spent quite a bit), but that young boy woke her up to the possibility that this could be a reality some day... He knew about the investment and didn't hesitate to show his enthusiasm for our speculation in this investment.

I remember her calling me after school with some excitement in her voice " Babe, guess what? One of my students has some Iraqi dinars and said we are ALL GOING TO BE RICH!!!"

Me being the joker that I am said, "I've been telling you that for years ( since 2006, we got married in 2007)!!!... SO I get it, you'll listen to your students, but not your husband "(lol)

I wonder now since it seems like we're pretty close to the finish line, what HE would say with all of the news going on???

I think about Delta's post from the other day about the "PROMISE" of information that hadn't been shared just yet... I've been looking over a lot of articles from Samson & Don961 posts and some others... Definitely got some excitement in the air...

SO reason for my post, last night my wife asked me "Are we rich yet?" "I told her not just yet, but WAR"...  Alot of W.A.R articles...

"W.A.R.???" she replied

Yeah, “WE ARE READY!!!!” ​
**********

Samson:  Zimbabwe : ‘Adopting Chinese currency makes sense’

 30th May, 2018 by Tawanda Musarurwa Senior Reporter

Zimbabwean companies can work with Chinese banks to boost renmimbi reserves

The adoption of renmimbi/yuan as a reserve currency, will help the country repay loans and grants from China, the Reserve Bank of Zimbabwe has said.

Zimbabwe and China have strong bilateral relations, with the latter having extended billions of dollars in loans and grants to the former. The official figures show that in 2016 trade between the two countries amounted to $1,24 billion. RBZ Governor Dr John Mangudya, said the growing significance of China as an economic powerhouse, necessitates countries such as Zimbabwe to seriously consider using the renmimbi as a reserve currency. Since the adoption of multiple currencies in 2009, the renmimbi was part of the currency basket but Zimbabwe has been using the United States dollar as a reserve currency.

The bulk of reserves for most countries in the region are also invested in United States dollars. Their composition through, has not kept pace with large shifts in the world economy. I have been following global discussions on the use of the renmimbi as a reserve currency. China and India continue to shape global trends particularly as they remain major trade partners for the region.

“Most countries represented here either have loans or grants from China and it would only make economic sense to repay in renmimbi. This is the reason why it is critical for policy makers to strategise on progress that the continent has made to embrace the Chinese renmimbi, which we all know has become what may be termed ‘common currency’ in their trade with Africa,” said the governor.

Dr Mangudya was officially opening the 2018 MEFMI Region Deputy Governors and Deputy Permanent Secretaries Forum in Harare yesterday in a speech read on his behalf by RBZ deputy governor Dr Kupukile Mlambo.

MEFMI is the Macroeconomic and Financial Management Institute of Eastern and Southern Africa, whose headquarters is in Harare.

Since 2009, the People’s Bank of China (PBoC) has moved aggressively to establish bilateral swap arrangements with other central banks in order to facilitate and expand the use of the renmimbi in international trade and financial transactions.

Last year, the renmimbi become part of the International Monetary Fund’s Special Drawing Rights (SDR) basket.

Dr Mangudya intimated that the use of the renmimbi as a reserve currency may have broader positive outcomes for central banks.

The magnitude and management of reserves can have profound effect on markets and central bank balance sheets. Reserves managers face important decisions on their asset allocations, including currency composition and asset classes, to ensure that the reserves meet the key goals of safety, liquidity and return,” he said.

“I am aware that in most MEFMI member countries, the size of the preferred habitat of reserves and short-term government debt has not kept pace with the increase in reserves. This can have profound effects on interest rates on the one hand, and on the other hand on decisions of reserve managers who have to move outside the preferred habitat, with all the attendant potential consequences on the balance sheets of central banks.”

Zimbabwe has been using the multiple currency system, which was adopted in 2009, but this has been accompanied by persistent liquidity challenges, which have had debilitating effects on efforts to steer the economy on a sustainable growth path. Some observers say increased use of the Chinese currency can help prevent the effects of the present liquidity crunch that is negatively affecting business.  LINK
Samson:  Surging Dollar Pressures Some Emerging Economies

 31st May, 2018

The strengthening of the dollar amid the US Federal Reserve interest rate hikes has sharpened pressure on some emerging economies as investors steer funds to the United States. Funds dedicated to emerging economy equity and debt saw withdrawals of $569 million and $253 million during the week of May 23, according to data firm EPFR Global. That is on top of the $1.6 billion and $2.1 billion taken from the same funds during the week ending May 9, AFP reported.

"The primary explanation for these capital outflows comes from the rising dollar," said Eric Viloria, a strategist at Wells Fargo. Higher US interest rates have prompted investors to rethink investments in smaller economies. "You do not feel the urge to invest in emerging markets when investing in much lower-risk US assets offers you higher returns," said Chris Low, chief economist at FTN Financial. The trend marks a shift from the period after the financial crisis when low interest rates in the US gave incentive to investors to seek higher yield overseas, especially in emerging economies. Argentina, Turkey Suffer

The yield on the 10-year US Treasury is back up at around 3% after hitting an all-time low in July 2016 of 1.3%. The biggest losers from the current dynamic have been Argentina and Turkey, according to the Institute of International Finance. Those two countries have lost 22 and 19% of the value of their currencies since the start of April. These countries have responded by sharply increasing interest rates, a move not without risk to their own economies. Argentina's central bank lifted the rate of a key lending rate to 40% as it has sought loans from the International Monetary Fund.

Turkey's central bank last Wednesday boosted its lending rate from 13.5% to 16.5% despite a push from President Recep Tayyip Erdogan, who has sought low rates to boost growth. The sharp fall in the currencies' value has come as Turkey heads to June 24 presidential and parliamentary elections where Erdogan is seeking a new mandate and a thumping parliamentary majority.

"Turkey is burdened by a large current account deficit, foreign currency denominated debt more than three times larger than its foreign exchange reserves, and double-digit inflation," said Low of FTN Financial. Turkey has "country-specific" challenges that preceded the dollar's rally, said Andres Abadia, senior international economist, PantheonMacro. Argentina too has suffered from annual inflation of more than 20% and large trade and budget deficits. The country also remembers well the painful crisis that led to a debt default in 2001.

According to a recent note by Oxford Economics, more than half the movement of the Argentine and Turkish currencies is due to elevated risk in those countries. By contrast, other emerging economies, including Russia, Poland and Malaysia have seen their currencies fall less precipitously against the dollar because their economies are in better shape.

Why Are EMs Suffering?

The easy answer is that money is fickle and opportunistic—it goes where it can get the highest return, flowing out of countries as fast as it flows in, Bloomberg reported. This latest upheaval started when the US, Japan and Europe kept interest rates close to, or below, zero to help their stagnant economies recover from the 2008 financial crisis. That made returns on stocks and bonds unattractive, and drove investors to developing nations, where the risks were higher but the payoffs more inviting. Emerging markets, as a result, have enjoyed a rally in stocks, bonds and currencies.

But the reverse is now happening as investors react to several signals from the US—faster growth, rising interest rates and a stronger dollar. All three indicate potentially higher returns on US investments and thus act as a magnet for money. They also undermine the attraction of riskier emerging markets. The turmoil in Turkey has especially rattled investors.

What Caused Asia Crisis ?  It started when a real-estate bubble burst in Thailand, which undermined confidence in the economy, causing foreign investors to sell the currency and withdraw from the stock market. The crisis spread to the banks, and then across much of East Asia.

Many of the afflicted economies had strong growth records that masked weaknesses like nonperforming bank loans, heavy foreign borrowing and rising trade deficits. Because their currencies were pegged to the dollar, South Korea and other nations were forced to spend billions trying to fend off speculators who were selling their currencies.

They soon ran out of dollars and had to give up the peg and devalue their currencies. The contagion spread when foreign investors pulled back from other countries in the region seen as having similar problems. Several ended up seeking bailouts from the International Monetary Fund.   LINK

Dinar info Trusts Unlimited Conf Call

BANK STORY, 1 JUNE

TNT - Trinket:
Just a little tid bit ! Out of the Blue I just had a wealth Manager from Well Fargo call me…. said she was calling to make sure all my accounts were ok. And I asked her if they did currency exchanges, and she said yes we do all except the Dinar. And I asked if she thought that would change on the Dinar and she said it will change. And told me to come in anytime.

WSOMN TIDBIT, 1 JUNE

CANDYKISSES
THE_TNT_TEAM: Wednesday's call is at 1:00 PM, Eastern. It's HUMP DAY, we're halfway thru. https://t.co/DTr18mbzay #wearethepeople m.twitter.com/THE_TNT...


rusdav wrote
Thanks Candy. The same old stuff every week .............


DSS
I don't know maybe I'm talking outta turn, but it's starting to look a lot like another shoulda, woulda,coulda, kinda months ends again


Ochidbud
Was told today from source of formal US Treasury that this is real and will happen very soon



adminbill
NEWS IS POSITIVE

MNT GOAT UPDATE, 1 JUNE

June 1, 2018 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

Welcome to the June 2018 Newsletters!

Yes, still no RV. These next 2 months will be a VERY significant month for us. Am I telling you it will RV? NO, NO, NO!!!!!

Iraq has to sort out this mess with the elections, as we all should have expected would happen.

Are they buying time for something else that we don’t know about? Must they keep delaying this RV and find excuses ? Will it EVER happen?

We DO know the reinstatement of the dinar MUST happen someday;

We DO know how they intend to do it; 

We DO even know (or can come very close to) the expected new anchor rate once they move from the de facto peg to the new SDR peg;

We DO know the dinar will be on a MANAGED FLOAT once on FOREX;

We DO know the new dinar categories will “coincide” with the large 3 zero notes for up to 10 years (meaning no LOP);

We DO know the banks have been notified of these upcoming exchanges and are preparing for us;

We DO know that our prize is the IRAQI dinar and not the ZIM, Rial or any others of this notion of a GCR or other currency scams;

We DO know the impact this will have on the Iraqi economy and the world;

We DON’T know the timing!

:(

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CURRENTLY:

No significant IQD rate change that we want, in or out of Iraq.

No ATMS with lower denominations being dispersed.

No debit cards being used outside of Iraq with a new rate.

More news….

I want everyone to remember that this FB page is my page and not yours to decide what YOU only want. So, either read it or get off it.

I am not going to change my MISSION STATEMENT to suit your individual needs. I advise all my readers to go read it before making negative statements. I fully intend to ban anyone who is disrespectful.

Do you even know there are about 8 billion other people on this planet and not everyone thinks like you? I am so glad that you may be so diligent not to fall for all these currency scams but are you even? Maybe you too are susceptible and you better take another look under your bed. You will be surprised just how brainwashed you may be in all this bullshit without even knowing it.

More news….

So where do we stand at this point in the ongoing RV saga?

In my recent past Newsletter, I gave you a list of events we expected to take place and with some dates. Parliament has announced their date for their new session to begin on July 1st. So my RV timeframe then must also adjust to this date.

I also gave a timeframe when I thought we should expect some news from the CBI on possibly moving forward with the project to delete the zeros once again. This timeframe was mid-June onward and so now I must adjust it to mid July ,,, sorry everyone! I would not be looking for any RV or any action until at least after this period.

So how did I arrive at this timeframe?

So now most of the news from Iraq is all about this voting fraud in Kurdistan. They must address the violations and it is a matter now of how they do it. Somehow, they must address these violations. It is a matter of how they will do it.

How will end result of the tug-of-war between the parliament and the Electoral Commission. Will it resort to counting and sorting by hand, or reaching a conclusion that the elections will be canceled, then have to re-vote?

Can these issues delay the entire formation of the government? Yes, if they decide to re-do the entire elections.

The key events we now are watching for: 

1. How they will handle the rest election process with these voting violations. The judicial must certify/ratify the election results. This should take no longer than 10 days from today Friday June 1st but if they decide to re-vote the entire election (which I do not think they will do) it could be much longer. They may not even decide what they will do until June 10th, then they have to do it. Get it?

Yesterday, Thursday May 31st marked the end of the period of electoral complaints and the start of appeals before the judiciary for ten days. So it will be at least until June 10th before we hear much from the Judiciary on what they decide to do for the certification.

President Fuad Masum considered the decision of the House of 

Representatives on the cancellation of the election results for some provinces and re-counting and sorting is "contrary to the Constitution."

Masoum asked the Federal Supreme Court to give its opinion on the constitutionality and their decision on the voting results soon.

2. Next Steps: After resolving the appeals the Supreme Federal Court approves (certifies/ratifies the election results) and then issues the Republican decree to convene and then the first session of Parliament. They must ratify the nominee in the first or second session of the New Parliament. If it is Haider al-Abadi we can then expect this to move quickly. If not I am telling you now it may not be until September until we see the new govt fully seated and any potential for an RV.

Am I telling you the govt must be “fully” seated for the RV to happen? YES! But only if Haider al-Abadi is not the nominee.

The leader of the Fatah alliance, Hadi al-Amiri, said Wednesday that there are "violations" within the elections that must be dealt with. He pointed out that there is "no justification" for canceling the elections, stressing the need to build new alliances on the basis of "national space."

"Al-Maliki does not put a veto on the current prime minister's second term, if this is consistent with the legal and constitutional frameworks," said Hisham al-Rikabi, director of the office in a statement published by Al-Hayat newspaper.

He pointed out that the Democratic delegation and the Patriotic Union of Kurdistanis returned to the region to inform their leaders on the latest developments discussed in Baghdad, "expected that" THE COMING PERIOD WILL SEE THE RETURN OF THE TWO DELEGATIONS IN A UNIFIED FORMAT TO DISCUSS THE LATEST UNDERSTANDINGS TO ANNOUNCE THE LARGEST BLOC AND THE FORMATION OF THE NEXT GOVERNMENT. "

"The decisions taken recently by the parliament regarding the cancellation of part of the election results regarding the vote of the displaced and abroad affect the progress of the ongoing talks to form a government or the electoral size of the political blocs," Rikabi said.

More news…

US envoy to the United Nations, Nicky Hailey, said on Wednesday that the next Iraqi government will take decisions that will determine the future of Iraq for decades.

During a UN Security Council session on the situation in Iraq, Hailey said the Iraqi government has hard work and requires strong leadership, and that her country will support Iraq on its way to a more prosperous future.

Haili added that it is necessary to respect the future Iraqi government human rights and promote them, especially after the crimes committed by the organization "Daash," noting that the United States looks forward to partnership with the next government, which in turn allows to address the fight against terrorism and strengthen the independence of Iraqi institutions.

"There is action before the United Nations and Iraq in accordance with the UN Security Council resolution TO COLLECT EVIDENCE OF WAR CRIMES AND GENOCIDE BY THE TERRORIST ORGANIZATION," he said, saying that such cooperation could serve as a model for how to achieve justice throughout Iraq.

(Mnt Goat – this coincide with what we are hearing about Abadi and the serving of these 1,000 arrest warrants “after the elections” )

More news….

Just so everyone knows the TRUTH contrary to what some gurus, TNT Tony in particular, are telling you that PM Al- Abadi should have competed the reinstatement of the Iraqi dinar prior to the elections would have resolved or avoided all these issues they are now having with election fraud. Really? Is this really what you think?

Tony and others claim they were correct in that this confusion would have NOT occurred if they has just reinstated the dinar prior to the elections. Tony and others are actually taking credit for being correct? They take credit even after the were so wrong in all their assumptions and “opinions” that they told their audience about the timing of the RV. I also heard Tony criticize the other gurus over the constant nonsense of the every day / any day RV stuff, but he is the biggest culprit of it all.

Tony also claims that many get on the internet and talk about his calls so much thus he is worthy of high appraisal for his intel. Well….I got news for you Tony they talk about you so much cause they have to clean up after you and your nonsense because you confused and messed up everyone’s minds so much with all your bullshit. Everyone needs to hear the TRUTH and RESET. Of course its their own fault for listening to you in the first place.

This is of course all nothing but more of Tony’s and the other gurus bullshit. First let me explain that the prime minister Al-Abadi has absolutely NO power to order the CBI to RV the currency. Next the CBI under the current trusteeship of the IMF, is not about to allow a political candidate to use the RV for potential political gain. If Abadi really wanted to get the currency part of the reforms completed prior to the elections, he had plenty of time to work with the CBI far in advance of the elections and do it. So he has nothing to do with the timing of the RV. Get it?

So why did the CBI decide to hold it up the project to delete the zeros until after the elections, even though they told us it was all ready and prepared?

The CBI along with the IMF wanted to first play out the pollical process of the elections and to make sure that these corrupt officials are eliminated from office and the amendments to the election law are passed in Parliament once and for all. Iraq needs these laws to keep these crooks out of politics, once and for all. They needed to close down these FAKE BANKS throughout Iraq and prosecute the guilty. Just too much currency MANIPULATION and FRAUD.

YES, it’s all about eliminating the currency manipulation, fraud and the corrupt banking.

YES, these new elections laws also are very drastic and hurt those that need to vote on them the most. So they need a New Parliament to get them passed. They need to weed out all of this corruption.

YES, The CBI need to ensure the success of the currency reform also by not letting this election chaos, that was sure to come, interfere with potential investors in Iraq.

So if they did RV prior to the elections this would put this chaos during the time period when they need to draw in potential investors the most to the new Iraq dinar. Why is this so hard to see by many of these gurus? It is a simple factor of the much needed, political STABILITY to make the launching of the new dinar successful. The needed stability is not just for a couple days or weeks but for years to come, especially just after the launch. Get It?

More news….

CBI RATE CHANGE TO 1190

Many asked me address the change in the CBI currency rate from 1184 to 1190. I have been telling you that currently the IMF is monitoring the MCP (Multiple Currency Practices) within Iraq. The MCP is the difference between the CBI rate and the Market (street) rate. The CBI rate is a de facto peg to the US dollar and the street rate is the rate venders or banks can sell the dinar in exchange for dollars or visa versa. The monitoring program requires that the difference in these rates not vary more than + or – 2 %. Being able to control the rate of the currency is a requirement to show stability. So the CBI has to recently adjust the CBI rate since the street rate also dropped. This keeps the dinar within this required range for 90 days. We know that in mid March there was a violation of the 2% rule and so the IMF started the MCP 90 monitoring all over again.

The CBI simply did not want this to happen again and expects to complete the monitoring on time on mid-June. This is also yet another indicator as to why I am telling you do not expect anything movement in the reinstatement of the dinar until at least past mid June, and even then, we have to wait to see what happens as we get closer. This mess with the election fraud may be resolved by some backroom deals or it may come to re-counting and maybe even a re-voting process. We just have wait and see. We have at least 10 days starting today to let the Electoral Commission work with the Judiciary in sorting through the complains and deciding the next step.

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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. 

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

Articles Begin

JUBOURI CALLS ON THE PRESIDENCY AND THE JUDICIARY TO "CUT THE ROAD TO THE DISASTROUS MISTAKES OF THE ELECTIONS"

Editorial Date: 2018/5/30

(Baghdad: Al Furat News) Speaker of the House of Representatives, Salim al-Jubouri, called on the presidency and the judiciary to “cut the road” on what he described as “catastrophic mistakes” that marred the electoral process.

Jubouri said in a statement received by the agency {Euphrates News} a copy of it, “at a time when the Iraqi Council of Representatives and according to the Constitution to defend the course of the political process and correct the mistakes that damaged the electoral process to achieve the right and protect the will of the Iraqi people, This orientation and correct the mistakes and abuses in the recent elections, as these institutions are concerned to ensure the application of the Constitution and protect the democratic process and refrain from supporting any attempt to address the constitutional and legal procedures.

He added that “the rigging that took place in the elections, which rise to the level of distortion of the will of the Iraqi people in a large and organized and planned in advance would constitute a major scandal that harms Iraq and the entire political process if they are silent and pass.”

“For all of the above, the House of Representatives and full constitutional powers to the date of 30/6/2018, the PAST IN THE LEGISLATION OF LAWS and take decisions that will protect the democratic process and in cooperation with the institutions of sovereign and executive state.”

He pointed out, “Accordingly, the House of Representatives calls on the presidency and the Republic to activate their constitutional mission and assume their historic responsibility in a way that protects justice and democracy, and cut the road to political wills that seek to pass the catastrophic mistakes that marred the electoral process.”

(Mnt Goat – I think they are now using this election fraud as a dog and pony show means to get the amendment to the Election Law passed in Parliament. This amendment will take care of much of the FUTURE corruption in political leaders and will prohibit them from even running for any office. Remember they could not get this law passed due to the ones that are voting on it are the corrupt guilty officials it will harm the most.

A leader in the alliance led by Hadi al-Amiri said on Thursday that an amendment to the parliamentary elections law, which the parliament is currently working on, will not change the results of the current elections at all.)

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

NEW REFORMS TO ATTRACT INVESTORS CONFIDENCE

The proposed framework for reconstruction was presented to donors at the Kuwait Conference.

The National Team for the follow-up to the decisions of the Kuwait International Conference on Reconstruction of Iraq announced on Wednesday the general framework of the reconstruction and development methodology for a number of ambassadors of donor countries and representatives of international organizations.

This came during an extensive consultative meeting held by the team with a number of ambassadors of donor countries and representatives of international organizations to discuss the latest developments and developments related to the pledges made at the Kuwait conference and to see Iraq's priorities for reconstruction.

"Iraq, in cooperation with the partners, provided the general framework for the reconstruction and development methodology and laid down a practical structure for the implementation and implementation of development and reconstruction operations," the statement said.

He stressed the importance of the participation of international bodies in the provision of a structure at the political and strategic levels and to find a mechanism to ensure the use of financial resources for the purposes set for it in line WITH THE FIVE-YEAR NATIONAL PLAN (2018-2022) and the establishment of a system of control.

He stressed that THE COMING PERIOD WILL WITNESS NEW REFORMS (when the New Parliament gets in session) to improve the investment environment, which made a good move in attracting investor confidence.

(Mnt Goat – I do believe that one of these reforms is the currency reform that will greatly improve the trading process with Iraq)

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

BANKS TO REPLACE THE DAMAGED CURRENCY WITHOUT COMMISSIONS

lsumaria News / Baghdad

He stressed the Central Bank of Iraq , on Thursday, the need for all banks commitment to replace the damaged currency without commissions.

The bank said in a statement received Alsumaria News that "the banks approved all compliance obligation issued by the Department of the issuance and the treasury in 2017 and the replacement of the damaged currency without the payment of commissions in return for that," noting that "non-compliance will bear the bank infringing all the legal consequences in accordance with Article 63 of the Bank Central Bank No. 56 of 2004 amended.

The bank asked the banks to provide him with the disclosure of the damaged amounts exchanged by them, which were received from the public until 31 May, "stressing the need to" respond to the answer within 3 days of the date of his book. "

It is noteworthy that a large number of damaged banknotes are still trading in the local markets, while the banks to return these securities again to the public after the deposit.

(Mnt Goat – remember the plan is to coincide the older, larger 3 zero notes with the newer lower denominations that will be coming out shortly. So this is a normal replace cycle that has been lagging by the banks.)

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

THE AMENDMENT TO THE PARLIAMENTARY ELECTIONS LAW, WHICH THE PARLIAMENT IS CURRENTLY WORKING ON, WILL NOT CHANGE THE RESULTS OF THE CURRENT ELECTIONS

A leader in the alliance led by Hadi al-Amiri said on Thursday that an amendment to the parliamentary elections law, which the parliament is currently working on, will not change the results of the current elections at all.

The leader of the coalition MP Haneen Qado (Basneoz), that «the amendment of the law of the elections of the House of Representatives will not lead to practical results and change the reality of the results of the elections», indicating that «must take advantage of the mistakes that we signed in the elections, especially with regard to the elections abroad A big problem and a challenge to Iraq.

He added that «this amendment will not change anything from the election results, and even the cancellation of the elections abroad, I do not think the House of Representatives will succeed in this», explaining that «the parliament saw a first reading of the amendment without a quorum, but the vote on the amendment needs a quorum, I do not think that will be achieved in the session to vote on amending the law.

The Council of Representatives after the resumption of the special session headed by Salim Jubouri, on Wednesday, read the proposal of the Third Amendment Law to the Law of the elections of the House of Representatives No. 45 of 2013.

Al-Jubouri confirmed during the session the eligibility of the House of Representatives to hold an extraordinary session in accordance with the powers granted to the presidency of the Council, noting that «the extraordinary session aimed at correcting the electoral process and the errors.

According to a statement issued by the Information Department of the Parliament, «the Council completed the first reading of the proposed amendment to the THIRD LAW OF THE ELECTIONS OF THE HOUSE OF REPRESENTATIVES NO. 45 OF 2013 SUBMITTED BY THE LEGAL COMMITTEE, in view of the legal and technical violations that affected the electoral process that took place on 12/5/2018 and to protect the democratic process which provides confidence in the integrity of the elections and fairness and to enable the Commission to conduct manual counting and sorting.

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

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 know that there is a new battle now to fight. A battle to save our homelands from the corrupt politicians who are bent on taking what they want from our current wealth and from future generations without our permission. We must keep praying for the end to the rapid corruption in Iraq and in the United States. We must pray for our leaders when they are being guided by the Holy Spirit. We must stand by them and let them know we are still there to support them, even after the election is over. I have composed a prayer maybe we can all pray today in our own way and until the revaluation of the Iraq dinar occurs.

PRAYER

“For the Iraqi Prime Minister and the President of the United States, that all their cabinet members, and deputies may be anointed by the Holy Spirit to do God’s will and bring the free democracies of the Republic of Iraq and the United States of America 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 to rest of the world to follow.

In the name of Jesus Christ our King and Savior, Amen”

Auf Wiedersehen 

Much love to ya all, 

Mnt Goat