.Mnt Goat Monday Dec. 5th News Brief

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.Mnt Goat Monday Dec. 5th News Brief

Post  Admin on Tue Dec 06, 2016 12:14 am

12/5/2016


December 5, 2016 Mnt Goat News Brief
 
Hi Everyone,
 
So today is Monday and what does this current news bring us? Is the budget then settled? What was the end result over the weekend?    
 
Update from Saturday Dec 3, 2016- Vice Chairman of the Finance Committee Faleh applicable: - The delay in the vote on the budget for 2017, the differences on the ratio of the population and export of oil and the benefits of Basra province. (I want everyone to note that this is why they need to do a complete and accurate “official” and “nonpartial” census of the population. So this tells us this is not yet completed and this created issues. Basra was asking for an additional $5 per barrel of oil besides their share of the 17%)
 
The House of Representatives has said they postponed a vote on the budget in 2017 until Sunday 12/4. So did they vote?


So after a marathon of hard fought negotiations on Sunday, the 2017 budget passed the House of Representatives, in a late evening session vote, with revenues estimated 79.11 trillion Iraqi dinars budget, and a deficit of 21 trillion dinars. It was calculated as the rate of $ 42 for a barrel of a basic source of oil, of which the export of 3.7 million barrels per day, including 250 thousand barrels of the Kurdistan region of oil and 300 thousand barrels of Kirkuk. Parliament also voted to allocate $ 5 for every barrel of oil to the provinces. 
 
So why all the drama and why did they have to work so late into Sunday’s session?

They had to pay attention to the deadline of Dec 5th, where the World Bank and the IMF recently said they were planning to provide a second installment out of five total on a loan to the government of Iraq as well as the Kurdistan Regional Government (KRG) of 4 billion dollars, but first they needed an “official” budget and an “official” meant a workable budget passed in parliament and legal.

 
As we know last Sept they already paid out the first of the five installments of the 20 billion loan at 1 billion. Do you see now there are conditions to getting this loan money? So what conditions are set for the next three other  installments in 2017? We wait and watch for this news.
 
More in the news….

I also included today more of the latest news in the battle to fight ISIS/Daesh. See last article below. The fight is slower than expected but moving along. The goal is still to clear ISIS out by end of the year just a couple weeks away. Can they do it? The question is not if they can but if they can do it by the end of 2016.
 
KARBALA, Iraq (TNS) — Iraq’s top Shiite cleric Ali al-Sistani said Friday that an Iraqi military victory over Islamic State is imminent. His comments come more than a month after the country started a campaign to drive Islamic State from its last key stronghold of Mosul. “Confidence grows in the ability and will of the armed forces and their supporters in achieving a final victory that is not far off,” al-Sistani’s representative, Abdel-Mahdi al-Karbali, said in a sermon.
 
So for any conclusion to ISIS we are waiting for an official announcement to be made by the prime minister Abadi that the war has concluded. This and ONLY this announcement is our news of the “official” finalization of this event we have been waiting for. I do not care if the battles are already done and Mosul region is now secure. We must wait for the official announcement by the GOI. Many of these so called “intel Gurus” have consistently told you that the battle for Mosul has been over now for almost a month. Really? Simply not true! I wish you can tell that to the Iraqi and coalition forces still shedding their blood fighting ISIS/Daesh….lol…lol…lol…But they are very close as it is Dec 5th already and they just recently have told us the conclusion is now “imminent”.
 
More in the news….
 
There was a very good article that came out on another rate increase for the Iraqi dinar. This rate increase should not be confused with the project to delete the zeros. This article is talking about raising the rate in the “closed” Iraqi economy and has nothing to do with going international as of yet, which is what is going to get us the money we are looking for as investors. So all you so called “intel gurus” please do not hype up this news and just relax. We don’t need any more lies to confuse people.
 
Again I will clarify – there has NOT been any RV in Iraq and the lower denominations are NOT out on the streets or being used by the banks. We do know the CBI has told us that in early 2017 in conjunction with the “project to delete the zeros” they intend to launch the 50, 100 and 200 dinar notes. This means at this time (as in 2017) they will have to do something with the rate or else these notes would be virtually worthless to the average citizen as they would be worth only 5 cents, 10 cents and 20 cents accordingly. Get it! This is really good news and so don’t lose sight of it. Can they change their minds and delay it? Sure but we have not heard any new news to tell us otherwise.
 
In the news again this week yet another on the topic of establishing a separate bank specifically for paying foreign remittances. So the banking sector in this regard to the establishment of a joint bank between the public and private sectors to finance the foreign trade of the private sector and the abolition of the currency auction. I presented this last article to you a week ago. Do you remember? Now we learn that the idea was rejected by the Board of the Central Bank. But they are still plugging for this setup and establishment of this bank because the problem in foreign remittances as a result of a lack of confidence among domestic and foreign banks. Did I mention the corruption with the auctions? We will have to wait to see how this all plays out in the near future. We know they only have a couple more months of reserves within the CBI if they continue with their current currency auctions.  
 
As always No Hype, No Rumors, just the FACTS as Iraq is giving them to us. Also as always my comments are in italic RED to clarify and help you understand the news. The news of today and as always in all interconnected to past articles as the RV saga continues.  
 
Articles Begin
 
Basra rejects draft 2017 budget
 
K & / p p
Twilight News / rejected the local administration in the province of Basra on Saturday, a draft finance Iraq’s budget for next year, indicating that the financial budget ignored the rights of the province, a center of the oil industry in the country.
 
The head of the provincial council Albzona morning at a joint news conference with the governor, said that the draft project Tnzawa legal violations and conflicts with provincial law No. 21 of 2008 average.

He pointed out that the budget ignored the financial allocations of Basra that the project did its disposal the central government during the previous years as well as the non-allocation of the petro-dollar funds, demanding return of the project to the government for the purpose of amendment.
 
Turn conservative Majed Nasraoui said that “the federal government of the city of Basra at about 17 trillion dinars from the petro-dollar amounts that were not paid to the province during the previous years”, noting that the province did not get any allocations for the petro-dollar during the current year.
Nasroaa and threatened to resort to mass protests if the federal government did not respond to the demands of the province in the budget.

It was scheduled that the Iraqi parliament will vote today on the budget bill but delayed to tomorrow Sunday(if they agree to make the changes. If not this will go on and on. Remember that on Dec 5th the IMF is doing a review of Iraq to decide on the installment of 4 billion and they need a passed budget to get the money. So the pressure is on!)
CBI aims to raise the price of the dinar
BAGHDAD – Anatolia: Iraqi finance official said on Friday that the Central Bank of Iraq aims to raise the Iraqi dinar exchange rate against the dollar in the domestic market during the coming period in coordination with the government and private banks.

Said Majid picture, the governing body of a member of the Iraqi Central Bank, said that «the CBI identified in an earlier exchange rate as 1200 Iraqi dinars per dollar, and now we aim to maintain the exchange rate to the borders of 1210 or 1220 dinars to the dollar».

He added that «there is significant cooperation between the central bank and the civil government and the banks, on the sale of hard currency, and within a short period will be reduced dollar against the Iraqi dinar».

Although the Central Bank of Iraq announced earlier this year to install dollar against the Iraqi dinar rate of 1200 dinars to the dollar, and obliged all banks and banking companies to sell according to the new price, but that did not happen.

CBI has not officially announced so far for steps to maintain the local currency against the dollar, with the most important step taken by the central banks in this regard is to provide foreign exchange in the domestic market(so this has nothing, absolutely nothing to do with going international and revaluing the currency,…get it? NO RV! )  To maintain its currency. In a related development anticipate the picture that «there are positive effects of the agreement to reduce oil production of OPEC on the Iraqi dinar exchange rate».

He pointed out that «Iraqi revenues in hard currency may increase, and this will have a significant role in increasing the supply of foreign currency in the local market. And yesterday scored Iraqi dinar exchange rate against the dollar to decline up to 1320 dinars to the dollar.

The sale price of the national currency, according to the schedule of financial exchange in Iraq has reached 1320 dinars to the dollar, down from the official rate of exchange at the Central Bank of Iraq by 120 dinars to the dollar.

It is noted that in the last weeks of the Iraqi dinar exchange rate maintained at a rate of 1290 dinars to the dollar, but it is taking a gradual decline in nearly two weeks.

On the other hand the Economic Committee in the Iraqi parliament, said that 80 percent of the $ 312 billion sold by the central bank in 12 years, had been smuggled abroad. This came in an interview with a member of the economic and investment commission proof Mamouri, during a press conference with a number of members of the Committee. Said Mamouri «12 years ago to establish a central bank auction, it was sold 312 billion dollars in 80 percent of them turned out of Iraq». He explained that «the participants in the auctions sell the currency, the banks and companies, their goal was to obtain hard currency at a lower price to be smuggled out of Iraq, after the submission of forged trade documents».

He added that «the central bank’s policy has led to a significant waste of hard currency that enters the country as a result of the sale of oil». He pointed out that «the Central Bank reserves fell to less than $ 50 billion as a result of this policy.

The Iraqi central bank sold dollars to Iraqi banks and companies at a price of 1180 dinars to the dollar, while its price in the market is much more than that. (really? no kidding…lol…lol…!)
 

The resolution of the budget depends on calculating the salaries of 1.4 million employees in Kurdistan and Baghdad records
 
Ceyhan re Kirkuk oil receivers
 
Author: AB, MK
Editor: AB
12.3.2016 12:54 
Long-Presse / Baghdad
Finance Committee in the House of Representatives announced on Saturday, the approval of the Kurdistan Regional Government on the delivery of 300,000 barrels of Kirkuk and another 250 thousand from the fields to the company SOMO against the salaries of its employees, and as pointed out that the current dispute regard to calculating the number of staff of the province, has ruled out the resolution of the dispute today and approving the budget .
 
(As I said its all about the census and records of employees, pensions, etc…So here is a second article on this topic (one of about 10 that come out) as to why the budget is stalled until further notice, maybe tomorrow but I doubt it)
 
The committee member said Sarhan Ahmed in an interview with (long-Presse), “The Kurdistan Regional Government had agreed to deliver 300,000 barrels of oil fields in Kirkuk to the central government’s SOMO, as well as 250,000 barrels of Kurdistan fields in exchange for their employees’ salaries,” noting that “dispute is currently the number of provincial employees, numbering in the Federal Ministry of Finance records of 600 000 employees, while the real located far greater as a result of the appointments after 2004”.
 
Ahmed said that “Arbil Baghdad demanding the payment of salaries of 1.4 million employees, as well as employees of the social welfare and pensions,” ruling out “the possibility of resolving this dispute today. 
(remember still 90% of citizens employed but the govt,. This is exactly what the GOI and the IMF is trying to change with the privatization of the economy so they can move more people off govt payroll to private sector and thus have more govt money to rebuild Iraq. So this issue with the 2017 budget stabs right in the heart of what is going on. Do you now understand why Iraq must move to a private sector? At $110 a barrel of oil there was plenty of money to go around and plenty for corruption but now when oil is $35-45 a barrel they realized they must do something since this free for all has gone away. But is it s cultural change as well as an economic change)
Member of the parliamentary Finance announces expansion of the points of contention about the budget
 
Baghdad} Euphrates News announced the parliamentary finance committee member Husam punitive, on Saturday, widening the points of contention on the draft 2017 budget law.
 
He said punitive, told {Euphrates News}, "there are two paragraphs in the budget, the two Kurdish dispute over the oil accord, which led to the postponement of adoption of the budget last Thursday." 

"The other point of contention emerged on the allocation of 35% of the popular crowd according to the ratio of the population in the liberated areas, the fact that this paragraph were not placed by law." 

Punitive and pointed out that " the National Alliance met to discuss these two points, and if it was agreed that if these two points are added it will assure the passing of the budget in the House of Representatives." 

And the heads of the National Alliance blocks, today held a meeting with the parliamentary Finance Committee in the House of Representatives, to discuss resolving points of contention in the draft budget for the purpose of approval in the parliament session , which is scheduled to be held today to vote on next year 's budget law 2017
 
Central Bank of Iraq reaffirms its commitment to the fight against money laundering and warns banks of channels “terrorist financing”
 
It confirmed that the Central Bank on Saturday, the commitment of the banking institutions in Iraq’s laws and regulations to combat money laundering crimes, and warned of the repercussions of non-compliance with such legislation and risks to create channels for the financing of terrorism, while the Iraqi private banks association pointed out that the statements of some politicians is “responsible” caused stop the deal one of the big European banks with Iraq.
 
The governor of the Central Bank, on the Keywords, during a press conference, held on the sidelines of the Forum of compliance and anti-money laundering and terrorism financing in the banks of the Iraqi financial institutions, Palestine Hotel in central Baghdad, and attended (range Press), said that “Iraq confirms banking and financial institutions, compliance with anti money laundering and financing terrorism, especially that this issue has become a national and international interest and a law passed in Iraq law No. 39 of 2015 represents a broad framework and whatever is built on the basis of what has been agreed upon withinternational organizations concerned with this issue. ”
 
Added Keywords, said that “the law was drafted very carefully and as far as this care needs to be carefully applied,” noting that “the Iraqi Central Bank issued a set of instructions and regulations in light of this law in the financial institutions and groups and other concerned the banking sector in this law,” stressing that “banks the establishment of units to comply with anti-money laundering and risk management of direct cooperation and coordination with the central bank, we are building and the development and training of these units to make them able to comply with this legislation. ”
 
He continued Keywords, said that “the success of the application of the law depends largely on the nature of the deal that banking institutions with different parties, especially the Foreign him,” adding that “the international banks and international financial institutions look closely and follow-up to the commitment of these banks by those rules so that it can deal with it transparent and clear, “warning that” the dangers of not adhering to this law facilitates the work of the special operations of money laundering channels or various other crimes to finance terrorism. ”
 
He said the Keywords, that “the central bank gave priority to the issue of the closure of the ports for the financing of terrorism, we have succeeded to a large extent in this context and in the past two years we have stopped hundreds of financial institutions and companies from the exercise of their work because we discovered the existence of cases involving suspicions of and in coordination with international parties as well as we develop programs linked to the international system to prosecute financial transfers and there is a program and a large part of the letter and put part of an international audit offices with international companies. ”
 
Among the Keywords, “The fight against money laundering and terrorist financing, the Office deals directly with the judiciary, even without the intervention of the central bank in a lot of cases that carry legal suspicions,” stressing that “these issues are fully confidential and direct follow-up between the office and the prosecution.”
 
For his part, head of the Iraqi private banks association, Wadih Handal, during the conference, said that “many of the international agencies monitoring the work of institutions in Iraq,” he said, adding that “one of the European banks halted dealings with Iraq, according to remarks irresponsible for some politicians.”


Barzani meets US anti-ISIS envoy to discuss Mosul and post-ISIS
 
ERBIL, Kurdistan Region – Kurdish President Masoud Barzani welcomed Brett McGurk, President Obama’s special envoy to the global coalition against ISIS, in Massif Sallahadin on Saturday to discuss the Mosul battle.
 
Barzani and McGurk reviewed the ongoing Mosul operation and cooperation between Kurdish, Iraqi, and coalition forces, and “steps to ensure stabilization,” Falah Mustafa, Head of Foreign Relations Department of the Kurdistan Regional Government (KRG), said on twitter. 
 
McGurk arrived in Massif Sallahadin Saturday afternoon after holding two days of meetings with Iraqi officials in Baghdad. He is in the country for a week of consultations with Iraqi and Kurdish officials.
 
McGurk expressed the US’ appreciation to Kurdish officials for their role in the fight against ISIS and the losses they have sustained, according to a statement on the Kurdistan Region Presidency’s official website.
 
He also congratulated Barzani for all the victories the Peshmerga have gained over ISIS in recent weeks as part of operation to retake Mosul from the militant group. 
 
Peshmerga forces coordinated with Baghdad, liberated a number of towns and districts to the east and north of Mosul, and facilitated the Iraqi army’s significant advances into Mosul.
 
McGurk also thanked Kurdish forces for their coordination with the Iraqi army.
 
The meeting also spotlighted the importance of continued coordination between the KRG and the US in developments in the region.
 

Pentagon: It is possible the restoration of Mosul before the inauguration of Trump
 
GHDAD / Sky Press:
 
Assured US Secretary of Defense Ashton Carter, Monday, that although the battle restore the city of Mosul of al Daesh would be "difficult", but it could be completed before the inauguration of US President-elect Donald Trump.
 
He said Carter in a press statement seen by "Sky Press," when asked about the possibility of restoring the entire city of Mosul of al Daesh before US President-elect Donald Trump's inauguration, where he said: "This is certainly possibleand again (I say) it will be a tough battle.
 
America confirms the survival of its army in Iraq even after the defeat of "Daesh"
He stressed Ashton Carter, the US defense secretary, on the need for the survival of units of the American forces and their allies in Iraq even after the defeat of the "Daesh" terrorist.

Carter explained that the international coalition mission in Iraq should not be limited to the military operation against militants in the end the city of Mosul, referring to the need to continue the fight against foreign militants, and the face of attempts to organize "Daesh" aimed at changing its activity areas and re-rallies.

He noted US Secretary of Defense to the need to provide aid to the Iraqi authorities concerning the training of local police, border guards, and other units of the Iraqi armed forces, in order to hold the land that was liberated from the grip of insurgents.

Carter did not mention to any length in his opinion should be forces of the international coalition in Iraq remains, and did not disclose the number of Western forces will continue their presence in the country. It is noteworthy that the freeing of the Iraqi city of Mosul from the grip of the militants, who captured the 2014 military operation, continue since October 17 / October last.
 
Articles End
​Many have requested from me updates on the VND and the ZIM currency revaluation. So here is my opinion.
 
First let me say there is no such thing as a GCR (global currency reset) and I have explained this to you over and over again and gave you solid proof this is only a hoax perpetrated by these so called “intel gurus” who want to pump currency to you. Next so if you invested in one of these “other” currencies you better rethink your options (this includes the VND, ZIM, Rial and Rupia too).
 
Also I will add that the Iraqi dinar revaluation is the ONLY  currency we know of that has the most likelihood of any significant change in value in the near future that could make you a millionaire overnight. Could these other currencies revalue? Sure – currencies revalue every day. Did you hear me? I said they revalue every day! Just watch FOREX. Did you take advantage of any of their revaluations? Are you now a millionaire? So why are you concentrating so much on these other currencies such as the VND,, Rial, ZIM, Rupia?
 
Oh – I get it now, let me guess- some “trusted” guru told you about some GCR about to happen and how these other currencies will make you rich too…..since they are cheaper to purchase than the Iraqi dinar they seemed like a good deal. Good Luck with that!!!!....lol…lol…. You will be holding these other currencies for a VERY long time.
 
Their words not mine…..No Rumors, No Hype, Just the FACTS!
 
Auf Wiedersehen
Much love to ya all,
Mnt Goat

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