Mnt Goat New Brief Update for Saturday Dec. 10th

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Mnt Goat New Brief Update for Saturday Dec. 10th

Post  Admin on Mon Dec 19, 2016 9:30 pm



12/11/2016





December 10, 2016 Mnt Goat News Brief



Hi Everyone,



I bring you recent news on a couple of topics worthy of looking at.



First I am still hearing that early 2017 is the timeframe to launch the 50, 100 and 200 notes. Why is this so important? These notes are on the list of the “new” lower denominations and must have some value and we know in order to do this there must be some kind of substantial rate increase very close to the dollar. Otherwise why would they bother spending large sums to design, print and launch these new notes? I don’t know so maybe you can tell me? …lol…lol…



Within the topic of the dinar we are also seeing yet another article from Iraqi economists who repeat what we heard before and why it is important to address the “real” value of the Iraqi dinar and do it now. See article below.








Then yet more articles on BANKING reforms and the process of increasing liquidity in the banks. Recently we have read many articles as we witnessed the ability of the ATM machine to finally coming online (not yet filled with currency), the ability of the banks to electronically communicate with each other (electronic banking), and the ability to have a CREDIT system tracking each citizens credit rating and the ability of banks to provide credit based loans. This was and still is all very good and heading in the right direction. If fact these banking reforms are all happening now so fast that if you blink you might miss them.



The liberation of Mosul is going according to plan, ISIS fighters are blocked in, and Iraqi forces expect to have control of the city within the timeline set out by Prime Minister Haider al-Abadi, who has said he wants to see the city free of ISIS by the end of this year.



Then we see yet more news from Ammar al – Hakim. We should all know that he now heads up the National Alliance, of which the Dowa party if only a part of but the largest party. I believe he is keeping Maliki at bay. So this week he said that "national reconciliation project is a strategic plan chosen to bring Iraqis under one umbrella." (I believe the timing of this article in not coincidental and it is because the completion of Mosul liberation is imminent and they told us they want to target the rollout of the national reconciliation project with this event.) They have told us they plan to implement this project following the liberation of Mosul.



You know something must be done about the so called “intel gurus” this nonsense is getting ridiculous. So once again let me clarify some of their nonsense published this week.



No! The USA is absolutely NOT back on the gold standard. Again this is the ignorant misleading leadership from this so called Nesara group. My advice is stay away from anyone and any news being put out labeled with Nesara.



YES – along with the IMF the developed nations agreed to include GOLD as part of their asset list and there are some mandates to increase gold reserves accordingly over time. But GOLD is just small portion of assets. These gold reserves increase over time. But I can assure you this list is a very long of assets and gold is only a small part of the qualifications.



Also I want to state there is no such thing as TRNs. Get it! No such thing! We are not waiting for TRNs to come out and there is no such connection to the RV since there is not going to be any such new currency for the USA. Recently yet another one of these Nesara gurus published some notes stating they were “Continental” dollars and going to be put into circulation. Really? I do not know who designed these notes or why but they are not legal tender nor will they every be legal. So relax! The US govt is not going to issue new currency and collect the old currency much like Iraq is about to do. But even Iraq told us that the two sets of currency the newer lower denoms and the 3 zero notes will coexists for 10 years.



Folks all this news is almost unbelievable as we watch and wait each day. We are getting VERY close to EARLY 2017 and so hang in there more great things are coming…..






Articles Begin



11% of Iraqis have bank accounts and 300 ATMs across the country



(this is yet another follow up article on the implementation of the divider system, credit cards, SMART cards [debit], credit reporting and the ATM activations)



The CBI began its first steps toward making a transition to electronic financial transactions , as is happening in the world after the National divider activation and exchange of credit information, while financial experts have confirmed that the loss of confidence in banks deployed in the country would be deterred towards the implementation of the electronic financial transactions.



Reports indicate that the Iraqi citizens lose confidence in the banking sector, where the proportion of Iraqis who have bank accounts 11% , while the number of funds chunky in homes of 37 trillion dinars. (so they are telling us again how much dinar is in circulation)



The central bank launched the action "national chunked" private exchange remittances through the introduction of credit cards, and as he pointed to a run of five banks and companies to collect POS first stage of the system, he emphasized that the system will connect the banks communications network and a single and easy to a lot of banking matters.



He said in a press statement, that " the launch of the system in the rest exported banks for payment cards will be before the end of this year , " (very important timeframe and is telling us a target that aligns with other events) he said , adding that " the system will connect the banks communications network one, as they would be a lot of banking matters and will eliminate routine followed in reviewing the banks will complete the transaction as soon as possible, through electronic payment instruments represented the credit cards of all kinds. "



And works in Iraq , 45 private banks are using modern electronic system and under the leadership of the Association of private banks led by Assyria and Handal depositary bank manager. The executive director of the Association of private banks, Ali Tariq "long", " The banking system in the country began to evolve through modern technology used and the most recent exchange of credit information system launched by the central bank and its goal to know the customer who wishes to obtain a loan history , " referring to "There is no cooperation between the banks among themselves to see customers who have problems in repayment of loans?".



He added that " the exchange of credit information system that includes the names of borrowers of all banks across the country, including the Kurdistan region , " explaining that " the exchange of credit information system will make the banks take the right decision on giving the customer the loan or not."



Tariq He noted that the "second system known as the National divider launched days the central bank before the target system to link ATM civil and governmental banks devices. This system allows anyone who has a bank account in banks associated with this system to withdraw money from any ATM machine is widespread in the country , " noting that "banks located in the Kurdistan region operate this system."



He stressed that " the first meal of the five banks associated with the National divider system is the Iraqi Bank of Commerce and Bank of Baghdad and the Bank Ahli Bank of the Middle East and Assyria , and will in the coming days , the International Development Bank and the Bank of return , " pointing out that " the number of ATMs deployed in Iraq , 300 devices machines . " . He pointed out that " the banking sector is well advanced and we wish that you own to pay the salaries of private sector companies as well as banks and government departments."



The number of bank branches in the country 's 900 branches, and reports indicate that every bank branch serving 30,000 citizens, while all ATMs serve 120,000 citizens, but in Jordan each bank branch serving 8.5 thousand people all ATMs serve 5846 residents.



On the other hand, said financial expert Abdul Rahman al - Mashhadani , "long", said that " a systematic national divider activation and exchange of credit information is an important step towards the development of the banking sector , " noting that "these systems are used between the countries since the work began with the ATM."



He stressed the financial expert on the "need to develop the banking sector by using modern technology and offer more services that make the citizen 's trust in the banking sector and the deposit money in scattered in the country 's banks , " pointing out that "many of the banks that were big names collapsed too quickly and this makes the citizen does not trust banks. "



He called al - Mashhadani , the private banks to " the need to increase the number of bank branches and ATMs and solving all the problems related with the ATM."



In the meantime, the economist said a just peace "long", said that " the use of an important step toward activating the banking sector , modern technology, but requires a major effort , especially that there are lagging behind banks," adding that "ATMs where many of the problems have been exposed to theft sometimes on the banks find serious solutions to this issue.






(I want to note also that yesterday the Ministry of Labour and Social Affairs of Iraq announced the issuance of more than 75,000 smart cards. So the citizens are moving towards having bank accounts as this is mandatory now if they want to get paid anything from the government i.e. pensions, salaries, etc. Why is this so good for us and our investment? Because this will create the needed liquidity in the banks which is a part of the banking reforms required by the IMF)



Legislation guaranteeing the movement of liquidity from the homes to the banks



8/12/2016 0:00



BAGHDAD / Hussein Tgb



Overcoming the liquidity crisis experienced by our banking sector is now occupies a great deal of time and money , economists, look at mechanisms to address the reluctance of citizens to business owners or others for depositing money in banks and make it an important part in the development process. (the CBI is building it into the process and they will force deposits in the banks)



Financial expert Mohammad Ali Jaber said in an interview for the "morning" that the financial distress experienced by Iraq due to the low and falling oil prices led to a shortage of liquidity , this is why the most prominent, as well as compactness in homes for the existence of a gap between the citizen and the banks, which requires it to provide legislative guarantees contribute to the pride of bank deposits.



Contractors dues and pointed out the existence of other challenges did the crisis of liquidity, especially in private banks, including the failure launch state allocations in the budget for the ministries and thus contributing to reimburse contractors who have dealings large sums of private banks, and this is also the reason for a significant impact by liquidity in the private banking sector.



Currency bloc chunky and beyond in homes barrier of $ 20 billion , according to statistics of finance and economy experts.



Jaber pointed to the loss of large amounts of cash in the areas that were in the areas of bank branches were under the control of terrorism, which made the cluster of large cash transactions and cash - out impact negatively on the reality of liquidity in the country.



The reconstruction process and the possibility to get a relative improvement and gradual rate of liquidity while starting the process of the reconstruction of liberated areas, where prescribed contractors repayment to banks with the recovery of their activities, pointing out that a large segment of depositors to withdraw their deposits from banks , especially the displaced to meet the requirements of life contributed to the deepening of the negative effects .



There is another reason the lack of liquidity is not as important as its predecessors as seen Jabir that the assets in bank branches in Kurdistan, which the provincial government put the hand out and freeze because of the crisis between the province and the center "are also affected liquidity.



Jabir said the payment of dues of farmers delayed will have a positive role in supporting the reality of liquidity in the banking sector and do capital cycle, which in turn contributes to the process of sustainable development which contributes to the business in various production and service sectors to fulfill the requirements of life activated.



Boost liquidity and stressed the need for entry into enactment force of the deposit Insurance Act, which is an important axis in restoring trust between banks, citizens and be deposits opportunity to boost liquidity, and the resettlement of salaries in private banks is the other will contribute to the achievement of several targets in the forefront of enhancing liquidity and lending facility development loan process including making there is a movement of capital turnover Links contribute to boost liquidity.



Jaber stressed the importance of restructuring government banking sector , which accounts for more than 90 percent of government deposits and the citizens, stressing the importance of benefiting from the implementation of the World Bank report in this regard, issued in 2011 , and certainly by the end of 2015 for the Iraqi financial sector , which recommended the return of bank restructuring Rafidain and Rasheed.



Guarantee deposits Jaber had urged in an interview earlier on accelerating the pace of work to establish a deposit insurance company being established under the umbrella of a law guaranteeing the right of depositors, and that the Council administration to the company consists of private banks to participate and operate in accordance with the mechanisms and guarantees provided to deposits that mean private banks, also stressed on the development of human resources to operate and brought into the banking sector in the development courses under the supervision of international experts, (they are running training seminars to teach banking personnel about new banking products and how to administer them) noting that workers in the financial sector must be high professionalism to enable advanced banking products offered by international banks to their customers of the companies and the citizens.



The Iraqi dinar lacks stability to foreign currencies, and constant complaint



News/ARA Ahmed shoish-hawler



Economists from Iraq and owners of exchangers in Central Arbil, hawler/market capital of Kurdistan, Iraq Iraqi dinar live chaos and instability in front of us and other foreign currency spinner.



Unstable



Kassim Yusuf exchange shop owner in hawler ARA reported News that «the dollar Thursdayrecord price of IQD 1310 outsold and 1300 dinars buy», adding that «the dinar has witnessed a slight improvement compared to what it was a few months ago, but unstable.

Yusuf said that the general situation in Iraq led to the unstable Iraqi dinar retreated against the dollar and other foreign currencies increased demand for the dollar and dealing in Iraq and Kurdistan.







Poor gentlemen



Jaber Rahman Iraqi Economist in recent News ARA that the main reason for the loss of the Iraqi dinar's value against the dollar is weak Iraqi sovereignty and intervention of foreign powers in the Iraqi economy with Iraq lack of interest in the stock and control of global markets. (yes he said - “control of global markets”)



Abdel-Rahman also stressed that "when you start to deal in foreign currency at the expense of basic currency markets inevitably will be the fate of its currency collapse to lowest level, pointing to debt covers Iraq neighboring countries and foreign.



The Iraqi Central Bank Governor Sinan Al-Shabibi said in an earlier statement that "increased dollar remittances outside Iraq and political instability increase demand for foreign currencies and the US dollar are suing for Iraqi currency.



(all he is basically saying is that Iraq can not continue to use foreign currency, i.e. US Dollar, much longer to pay foreign debt and all the problems that arise if they continue, namely a collapse of the currency altogether)





Hakim: national settlement project is a strategic choice that combines all Iraqis under one umbrella



[Baghdad]

president of the National Alliance , Ammar al - Hakim, said that "national reconciliation project , Hu said the strategic choice that brings Iraqis under one umbrella."



A statement by his press office received by all of Iraq a copy of it "in the framework of Hakim 's visit to Jordan , met at the Iraqi embassy in Amman elite of the Iraqi community, and spoke to them about the nature of his visit and the delegation of the National Alliance to Jordan 's brother, where the security, political and economic concerns , capital in his meeting with Jordanian officials, especially King Abdullah II, and the relationship with Jordan and ways of enhancing and coordinating roles between the two countries and the rest of the region to counter the threat of terrorism. "



He stressed that the "post - Daesh stage need to be inclusive political project through which we can overcome the fallout after liberating the land from Daesh terrorist gangs, and a package of measures and political development and services and the steps that guarantee the absorption of our people and restore it to the national ranks , " pointing out that " the project national reconciliation is a strategic choice that brings all Iraqis citizens under one umbrella, and supports mutual concessions, mutual guarantees, mutual reassurance, as principles to proceed with this project , "noting that" the United Nations has taken upon itself the marketing of this project , both regionally and internationally. "



The head of the National Alliance , Ammar al - Hakim on Wednesday arrived in the Jordanian capital Amman and met with a number of Jordanian officials.



Articles End



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



Auf Wiedersehen

Much love to ya all,

Mnt Goat

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