Mnt Goat April 19th News Brief - Part 1 of 2

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Mnt Goat April 19th News Brief - Part 1 of 2

Post  Admin on Wed Apr 19, 2017 6:25 pm


4/19/2017  


 
April 19, 2017 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.   

I know my newsletters can be very long. Believe me I have edited out lots of stuff that is totally irrelevant. I try to compose with only good information you should know. So many of these forums have collections of articles  and of stuff that is nothing to do with the Iraqi currency and of little value to us. Seems many can’t even decide what is relevant by now to report after 6 years?....lol….lol….

Okay- yet another ride on the roller coaster last weekend. Did everyone enjoy it? So now in the aftermath they are all back paddling upstream trying to justify their nonsense last week. It’s hard to back paddle isn’t it? It’s like going against the current but even worst when your trying to justify your won nonsense. All I can say is  - “I told you so”. You are only hurting your own reputation each time you make a fool of yourself.


Of course they are making up some very good excuses too…lol…lol…. I will not even talk about just how absolutely ridiculous their excuses are. Wouldn’t it just be easier to read the news and listen to the Iraqi news channels to get the FACTS so you can report on the FACTS. This way you don’t have to try to lie your way out of your lies afterwards?

The REALITY may not be very exciting news and certainly much of it does not hype people all up. But it is the TRUTH. You do want to tell people the TRUTH…. don’t you?

So what if we have to wait a little longer for an RV? Lying about the timing of the RV is certainly not going to get it any faster. Get it? It only makes you look stupid for pumping this nonsense. Do you enjoy looking stupid each weekend?

I guess this is what happens when you don’t read and understand the news from Iraq and instead listen to someone who doesn’t know any more than you do. Oh- wait a second…..”they are creditable sources” and “you can trust them”. Really? How creditable is their news?  Oh- maybe you and them don’t belong telling us any intel in the first place. Maybe you are not concerned about telling the FACTS but instead are out to collect your fees for clicks on your site or donations?

I have to tell you it makes my stomach turn when I hear all this nonsense over and over again. I truly know better and am hearing entirely different news. Why does my news sound so different and contradicting? Could it be my news is FACTUAL and the TRUTH?

So if you are looking to be pumped up with false hope about an RV today or this week you are reading the wrong news. I do not see any prospect for an RV for at least until the end of April. Did I say it would happen at the end of April? NO- do please don’t put words in my mouth. I said this is the first chance we MIGHT have, but all conditions must be right. It is not me to tell you what must still be completed to see an RV. I am showing you some proof of this too in today’s newsletter.


As I said many times already, I am listening to the Central Bank of Iraq (CBI) and what news they bring us. Also, the GOI parliamentary finance committee news, in regards to the currency, since we know they are working closely with the CBI in this matter. I have also already told everyone that the GOI is monitoring the situation in the country and must give permission to the CBI when the time is right. The CBI is just the instrument for conducting the process they have in place for this purpose.

Through many past articles on the topic of the “project to delete the zeros”  the CBI has almost always concluded their information sessions with some verbiage like “the central bank will continue technical preparations in order to be practical fit when deciding deletion. “  

In reality the CBI already told us their technical preparations are all completed. So we know this as FACT. So they are just giving general statements because they are stalling the process until the GOI gives them the go ahead. Why is the GOI stalling it? They are waiting for more STABILITY and SECURITY, which is imminent since ISIL is almost defeated. In today’s newsletter the GOI tells us a new target date when they expect to give a final announcement that ISIL is all done. WOW! A new target.

On with the FACTUAL and HONEST news…..

United Nations Organization and the formal meeting on Friday, the Secretary General Antonio Ghotersh was appointed Permanent Representative of the Republic of Iraq, Ambassador Mohamed Ali Hakim, his Deputy and Executive Director of the United Nations Economic and Social Commission for Western Asia (ESCWA), based in Beirut, a top UN post gets figure since the founding of the United Nations(Wow! Iraq is on the stage now and performing well)

Iraqi forces announced yesterday the completion of the liberation of most of the neighborhoods of the right coast of Mosul (west), of the organization Daash, except for six neighborhoods are currently fighting for liberation.



"The joint military units continue to move at a steady pace in order to resolve the battle to liberate the few remaining areas of the right coast of Mosul, in preparation for declaring Mosul a completely liberated city," Chief of Staff Taleb Shaghati told the government daily Al-Sabah. , Stressing that the units completed completely cleared 32 residential neighborhoods, out of 38 neighborhoods, as well as Mosul International Airport and the strategist Ghazalani camp. (So you can see just how close they are to full liberation. Oh- shame, shame on any “guru’ who told you they were all done. That was months ago. Does this sound like it’s all done as many of these so called intel “gurus” keep pumping you with?)

More news….


So here we are in mid-April 2017 already. WOW! Where is the RV? Rumors spread from many of these so-called intel “gurus” last week that the RV was imminent by Friday. Some said it had to happen by Easter. Oh- he was so sure of himself too. Really? Big Bruce are you listening this time? The Easter  bunny is not going to bring you the RV….lol….lol…. No! – I am sorry I am not going to take that roller coaster ride with you.

From article, CBI dated November 28, 2014
 - The governor of the Central Bank of Iraq, Mr.Ali Al-Allaq, has declared on Tuesday that the green light was given to execute the file of zero deletion from the currency, and he confirmed that finishing the managing matters for this file will take two years. He also pointed that the bank has started preparing samples for the new currency. (So 2 years from 2014 is late 2016. Just another indication they were targeting EARLY 2017. We also know from this article there is a new currency coming out. Don’t have any doubts about this. They are going to replace the larger 3 zero notes with smaller denominations and coins, but this will be a slow conversion and not what many think as 1 triggered event. This is how I know when many of these so called intel “gurus” keep lying to you about that the lower denoms already out. Really? Folks- believe me when the lower denoms begin to come out you will know it. There will be no guessing or assuming. When there is any significant change in the currency value you will know it. The CBI is going to educate the citizens and there will be dozens of articles on the topic, when the time comes. )

From article, CBI March 3, 2015
 - The project of deleting zeros came late after a long delay for this project which may bring back prestige to the Iraqi dinar which has suffered inflation for quite a long time. The Iraqi Central Bank (CBI) will begin this year with the procedures of deleting three zeros from the local currency according to the financial parliamentary committee in Iraq based on the official correspondences between the Central bank and the committee. (We know this was delayed again until EARLY 2017).  

So then on December 17, 2015
 through the unanimous adoption of resolution 2253 (2015) under Chapter VII of the United Nations Charter, the Council decided to slap more sanctions on Iraq. In other words from the sanctions taken off in 2013, and leading to the release of the final exchange restrictions was hampered by this new resolution 2253 in December of 2015. Don’t believe me? Go look it up for yourselves on the UN site. I am not making this stuff up folks. It is time to reason. This is why, in part, the project to delete the zeros was stopped again in 2015.

http://www.un.org/press/en/2015/sc12168.doc.htm

Of course they are making up some very good excuses too…lol…lol…. I will not even talk about just how absolutely ridiculous their excuses are. Wouldn’t it just be easier to read the news and listen to the Iraqi news channels to get the FACTS so you can report on the FACTS. This way you don’t have to try to lie your way out of your lies afterwards?

The REALITY may not be very exciting news and certainly much of it does not hype people all up. But it is the TRUTH. You do want to tell people the TRUTH….don’t you?

So what if we have to wait a little longer for an RV? Lying about the timing of the RV is certainly not going to get it any faster. Get it? It only makes you look stupid for pumping this nonsense. Do you enjoy looking stupid each weekend?

I guess this is what happens when you don’t read (or can’t read) and understand the news from Iraq and instead listen to someone who doesn’t know any more than you do. Oh- wait a second…..”they are creditable sources” and “you can trust them”. Really? How creditable is their news?  Oh- maybe you and them don’t belong telling us any intel in the first place. Maybe you are not concerned about telling the FACTS but instead are out to collect your fees for clicks on your site or donations?

I have to tell you it makes my stomach turn when I hear all this nonsense over and over again. I truly know better and am hearing entirely different news. Why does my news sound so different and contradicting? Could it be my news is FACTUAL and the TRUTH?

So if you are looking to be pumped up with false hope about an RV today or this week you are reading the wrong news. I do not see any prospect for an RV for at least until the end of April. Did I say it would happen at the end of April? NO- do please don’t put words in my mouth. I said this is the first chance we MIGHT have, but all conditions must be right. It is not me to tell you what must still be completed to see an RV. I am showing you some proof of this too in today’s newsletter.


As I said many times already, I am listening to the Central Bank of Iraq (CBI) and what news they bring us. Also, the GOI parliamentary finance committee news, in regards to the currency, since we know they are working closely with the CBI in this matter. I have also already told everyone that the GOI is monitoring the situation in the country and must give permission to the CBI when the time is right. The CBI is just the instrument for conducting the process they have in place for this purpose.

Through many past articles on the topic of the “project to delete the zeros”  the CBI has almost always concluded their information sessions with some verbiage like “the central bank will continue technical preparations in order to be practical fit when deciding deletion. “  

In reality the CBI already told us their technical preparations are all completed. So we know this as FACT. So they are just giving general statements because they are stalling the process until the GOI gives them the go ahead. Why is the GOI stalling it? They are waiting for more STABILITY and SECURITY, which is imminent since ISIL is almost defeated. In today’s newsletter the GOI tells us a new target date when they expect to give a final announcement that ISIL is all done. WOW! A new target.

On with the FACTUAL and HONEST news…..

United Nations Organization and the formal meeting on Friday, the Secretary General Antonio Ghotersh was appointed Permanent Representative of the Republic of Iraq, Ambassador Mohamed Ali Hakim, his Deputy and Executive Director of the United Nations Economic and Social Commission for Western Asia (ESCWA), based in Beirut, a top UN post gets figure since the founding of the United Nations. (Wow! Iraq is on the stage now and performing well)

Iraqi forces announced yesterday the completion of the liberation of most of the neighborhoods of the right coast of Mosul (west), of the organization Daash, except for six neighborhoods are currently fighting for liberation.


"The joint military units continue to move at a steady pace in order to resolve the battle to liberate the few remaining areas of the right coast of Mosul, in preparation for declaring Mosul a completely liberated city," Chief of Staff Taleb Shaghati told the government daily Al-Sabah. , Stressing that the units completed completely cleared 32 residential neighborhoods, out of 38 neighborhoods, as well as Mosul International Airport and the strategist Ghazalani camp. (So you can see just how close they are to full liberation. Oh- shame, shame on any “guru’ who told you they were all done. That was months ago. Does this sound like it’s all done as many of these so called intel “gurus” keep pumping you with?)

More news….


So here we are in mid-April 2017 already. WOW! Where is the RV? Rumors spread from many of these so-called intel “gurus” last week that the RV was imminent by Friday. Some said it had to happen by Easter. Oh- he was so sure of himself too. Really? Big Bruce are you listening this time? The Easter  bunny is not going to bring you the RV….lol….lol…. No! – I am sorry I am not going to take that roller coaster ride with you.

From article, CBI dated November 28, 2014 - The governor of the Central Bank of Iraq, Mr.Ali Al-Allaq, has declared on Tuesday that the green light was given to execute the file of zero deletion from the currency, and he confirmed that finishing the managing matters for this file will take two years. He also pointed that the bank has started preparing samples for the new currency. (So 2 years from 2014 is late 2016. Just another indication they were targeting EARLY 2017. We also know from this article there is a new currency coming out. Don’t have any doubts about this. They are going to replace the larger 3 zero notes with smaller denominations and coins, but this will be a slow conversion and not what many think as 1 triggered event. This is how I know when many of these so called intel “gurus” keep lying to you about that the lower denoms already out. Really? Folks- believe me when the lower denoms begin to come out you will know it. There will be no guessing or assuming. When there is any significant change in the currency value you will know it. The CBI is going to educate the citizens and there will be dozens of articles on the topic, when the time comes. )

From article, CBI March 3, 2015
 - The project of deleting zeros came late after a long delay for this project which may bring back prestige to the Iraqi dinar which has suffered inflation for quite a long time. The Iraqi Central Bank (CBI) will begin this year with the procedures of deleting three zeros from the local currency according to the financial parliamentary committee in Iraq based on the official correspondences between the Central bank and the committee. (We know this was delayed again until EARLY 2017).  

So then on December 17, 2015 through the unanimous adoption of resolution 2253 (2015) under Chapter VII of the United Nations Charter, the Council decided to slap more sanctions on Iraq. In other words from the sanctions taken off in 2013, and leading to the release of the final exchange restrictions was hampered by this new resolution 2253 in December of 2015. Don’t believe me? Go look it up for yourselves on the UN site. I am not making this stuff up folks. It is time to reason. This is why, in part, the project to delete the zeros was stopped again in 2015.

http://www.un.org/press/en/2015/sc12168.doc.htm


I quote from the UN resolution 2253-

“VITALY I. CHURKIN (Russian Federation) said eradicating ISIL could only be achieved by acting together without double standards in suppressing financing channels.  While resolution 2199 (2015) had reaffirmed existing and created new State commitment to prevent terrorism financing, obligations were not being implemented by everyone, everywhere.  The sale of fuel to ISIL continued with complicity.  Smugglers bought oil with cash, crossed borders and made deals with ISIL, whose illicit exports had reached $1.5 million a day, moving mainly through Turkey by a road that passed through thousands of border crossing points.  Shipments were carried by Turkish companies and transported to ports on the Mediterranean Sea.  The basket of resources that financed ISIL had hit $700 million a year, with $250 million earned from the sale of phosphates and $100 million from the sale of cement.

He said ISIL’s supreme military council allocated $30 million a month for such purposes, mainly through shell companies in Eastern Europe.  Under the pretext of strengthening the Syrian opposition, many rocket launch systems, hand held portable rocket-propelled grenades and other weapons had entered ISIL-controlled Syrian territory

To eradicate ISIL’s illicit economy, a comprehensive approach was needed.  On the Russian-United States initiative, the Council had adopted today’s resolution.  He looked forward to the Secretary-General’s report on the sources of illicit ISIL financing.  It was important that the resolution had named ISIL as the most dangerous independent threat.  For that reason, the Sanctions List and Committee had both been renamed.  The Russian Federation was systematically working to suppress terrorist financing.”

Does this sound like they are going to release Iraq from financial restrictions thus revalue their currency, thus making it even more lucrative for the ISIL terrorists to take advantage of money laundering and financing their efforts?

Remember this is the exact same language in the process that UN took during the 2003 resolutions under Chapter VII. Why in hell would they release these financial sanctions when the intent of them in the first place still exists? You tell me cause I don’t have the answer.  

Is this STABILITY? Is this SECURITY?

So now Iraq has a brand new UN imposed resolutions placed on them in late 2015.


Is this STABILITY? Is this SECURITY?

So what did the CBI do next?

From article December 2015
- “The governor of the Iraqi Central Bank Ali Allaq report that project to delete the zeros will be implemented in early 2017, indicating that the bank began to develop the first steps of the project.


He said in a statement, that the goal of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor with foreign currency, pointing out that this strategic project will serve the country’s economy, will be inclusion of the Iraqi dinar in the global basket of currencies in the vital World Exchanges”. (So here it is in 2015, in black and white that the plan includes Iraq getting off the peg with the US dollar and going to “global basket” of currencies in world exchanges. Folks they are telling us the plan. Can it get any better then this? So please let us all also stop all this nonsense about getting off the peg or not. They CBI just told us the plan includes getting off the USD peg, which of course we all should know by now was only a temporary measure to peg the dinar to some currency that was very stable and not to be permanent in the long term.)

So due to this resolution the CBI has no choice but to “postpone” once again the project to delete the zeros. They told us they would resume it again in early 2017 but this was predicated on clearing out ISIL by December 2016, since Abadi told us this was the target.  

Then by early December 2016 ISIL was not fully defeated, as planned.

So what does the CBI (not the GOI) tell us next?

From article December 28, 2016
 - Iraq will need another three months to oust Islamic State, its prime minister said yesterday, formally abandoning his prediction of victory by the end of the year.

Western troops are preparing a fresh assault against Isis in the coming days, hoping to quicken their advance through the group’s Iraqi stronghold by putting US soldiers on the front line.

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Re: Mnt Goat April 19th News Brief - Part 1 of 2

Post  Admin on Wed Apr 19, 2017 6:44 pm

Mnt Goat April 19th News Brief -  Part 2 of 2

4/19/2017  


 
Then by early December 2016 ISIL was not fully defeated, as planned.

So what does the CBI (not the GOI) tell us next?

From article December 28, 2016
 - Iraq will need another three months to oust Islamic State, its prime minister said yesterday, formally abandoning his prediction of victory by the end of the year.

Western troops are preparing a fresh assault against Isis in the coming days, hoping to quicken their advance through the group’s Iraqi stronghold by putting US soldiers on the front line.

The coalition commander, General Stephen Townsend, said it would take two years to fully clear Isis from Mosul and its Syrian stronghold, Raqqa. (So we hear it will take till until 2018 to fully un-seed ISIL. So how do we know then when ISIL is defeated enough to go ahead with currency reform prior to this date? All we have is the “formal” announcement by the GOI that ISIL is done. We can not assume or make up out own stories. This is not going to get us the RV any faster, as it is not accurate and we must go by the GOI timetable.)




The GOI then told us next they anticipated ISIL would be completed in another 3 months. Oh -a new target?

Of course, once again none of these so called intel “gurus” wanted to accept this bad news and continued once again with their rabbit holes and refused to adjust their information accordingly. They persisted an RV had to happen in January even after these articles came out. So they waiting and all their listeners got hyped up for months, but what happened? NOTHING! I am telling you now why nothing happened. Are you listening?

From article, CBI dated January 15, 2017
 - "the Iraqi Central Bank did not specify a date for the "deletion of zeros from the currency dinar," noting that "subject to availability of appropriate conditions, including the general stability in the country. He stressed the central bank governor and the agency, the need to "ensure the success of the process of deleting the zeros requirements before starting out”. So the central bank will continue technical preparations in order to be practical fit when deciding deletion. 

So what does the GOI (not the CBI) tell us next?


Then in early March of 2017, once the GOI determined the 3-month target could not be met.

So they came out and extended the target by 2 weeks.  

So what did the GOI (not the CBI) do next once mid April (the 2 weeks) was reached and still they are working on liberating Mosul?

See article below…..
 
Abadi meets security leaders and sets the date for the announcement of the liberation of Mosul in full

 
Tuesday April 18, 2014

Baghdad - Journal News

(So it is going to take Iraq 4 more months instead of 3 as we were told back in December 2016. Can we wait another 2 weeks? Or do we have to conjure up lies again to hype everyone up and get them to ride the roller coaster again? )


A leader in the popular crowd, on Tuesday, that "the security leaders have set the end of April this date to declare victory on a supporter."

The leader of the "Journal News," the "security leaders" told Prime Minister Haider Abadi to announce the end of April, the liberation of Mosul completely from the grip of the organization of Daesh.

"The prime minister met with the joint operations and the leaders of the crowd to determine the end of this month, the liberation of Mosul from the preacher," said the leader, who declined to be named.

The Iraqi forces arrived on the right side of the city of Mosul, which contributed to the liberation of most areas of the coast, with only six neighborhoods are liberated by the military, especially with the siege completely.

"The joint forces are continuing their momentum at a steady pace in order to resolve the battle to liberate the few remaining areas of the right-hand coast in preparation for the announcement of Mosul as a completely liberated city," said Talib Shagati, head of the anti-terrorism unit. "The units have completely completed the clean-up of 32 of the 38 neighborhoods of this coast, along with the Mosul international airport and the Ghazlani strategic camp," he said.

The official spokesman of the anti-terrorism agency Sabah al-Nu'man said that the organization received "heavy" losses during the past four days in the northern axis of the right coast by the heroes of the device, especially in the wells of the wells, pointing out that the preliminary statistics indicate the killing of 2900 terrorist calls "He said.

As always my comments are in italic RED.

Articles Begin


Parliamentary Energy: The collection of electricity fees from citizens will revive the national energy system


Direction Press / Special

A member of the Committee on oil and energy parliamentary Tareq Siddiq said that “the collection of electricity wages of citizens is a legal right is indisputable, pointing out that” the national energy system needs a large sum of money to improve and assess, and the wages of electricity will contribute to the recovery of that organization.

A friend in an interview with “Trend Press” said that the issue of collection of electricity wages is a legal issue, whether stated by Prime Minister Haider Abadi or not, stating, “Citizens are supposed to be more aware of the completion of their duties to the state to get their rights of electricity.


“The national system of electricity needs several factors to regain its ability to cover all areas of Iraq, such as maintenance and reconstruction and the opening of new areas need this energy,” adding that “when the citizen leads his duty towards the state will take full rights of electricity.

He pointed out that “the accumulated wages on the citizen needs fair solutions, and one of those solutions is the process of installment of such wages so that citizens can pay these amounts in the form of payments, pointing out that” the payment of debts accumulated in one lot will adversely affect the economic situation of the citizen.

Prime Minister Haider al-Abadi said last Tuesday that the provision of having electricity in the country for 24 hours requires the implementation of the system of collection (billing the citizens for their usage).

“The provision of electricity in the country for 24 hours throughout the country requires the application of a system of tax collection for citizens to collect the financial fees,” Abbadi told a news conference.

He added that “the Council of Ministers decided to form a specialized committee in the Ministry of Electricity for the wages of contractors in the field of collection in line with the strategy to provide energy for 24 hours for citizens.

Governor of the Central Bank: To cancel the dollar sale window, if canceled to become exchange rate 3 or 4 thousand and perhaps more??

(This article is talking about the conversation of a regularly scheduled meeting between the CBI and Parliament. Parliament asks the CBI why they are still conducting the dollar auctions. The governor tells them they have this new process at the bank window in place that replaced the currency auctions, thus they are no longer running. He states they must continue this current process to sell dollars. [we know this it is the process in place to buy imported goods and services and forced to do so using on US dollars])

Economy News / special

April 16, 2017

Judge Ghassan

He said the governor of the Central Bank of Iraq on the Keywords to stop selling the dollar through selling currencies in the bank window will lead to the collapse of the Iraqi dinar financial situation in Iraq in general, stressing say that the central bank is obliged to do the job, even refrained from performing the role of the collapsed financial situation in Iraq.

Keywords and said in an interview conducted by the envoy of the agency "Economy News" on the sidelines of the annual conference of the Union of Arab Banks held in Beirut recently sale at the currency window ended could rise to 3 and 4 thousand dinars, and perhaps more. (he is saying is if they did completely away with the currency window the dinar rate would get so low to 3-4,000 dinars per US dollar)

He said the governor also said case cancellation window printed currency to trillions annually to cover the local need for dinars, will lead to Iraq's infrastructure to collapse because of inflation, known as Oma cash excessive.

On the prospects of floating, similar to other countries in the region, Keywords said that it is sealed now, and we are working on editing currency and not float, a large difference between the two.

(This last sentence is so VERY, VERY important. It is telling us the CBI is working on the replacement of the currency and bringing it out of the program rate as he says “editing” the currency.

The fact that he says this process is much different than what was done in other countries is the key here. To me “editing” means to change. Any arguments here? So this is a funny word when translated but we can see what the CBI is saying. When he mentions “float” he is talking to parliament and telling them the CBI is not going to float the program rate but will wait until the editing process is done. So they can float but only when it goes international. This is still all about the program rate.)


Keywords denied the existence of the currency auction in the central bank, but the sale of foreign currency window, (so the foreign currency window replaced the currency auctions, so it is not just about converting to the US dollar but converting to any foreign currency…WOW! Most did not even pick up on what the CBI did when getting rid of the currency auctions.)

stressing that the central mediator between the Ministry of Finance and the public is not only. (this last sentence confirms again the CBI takes direction from the Finance Ministry and is the go between the GOI and the Public)

Turning to the experience of Lebanon and Jordan, in the field of maintaining the stability of their currency, pointing out that the situation in Iraq is different.  

He noted that the solution in Iraq is to reduce the demand for the dollar through the structure of the Iraqi economy is correct, and not through the sizes for the sale of the dollar. (So here it is in BLACK and WHITE and it could not get any clearer – the strategy of the CBI is FIRST to reduce the demand for the dollar (thus raise the value of the dinar) and do it through a progressive and productive economy. Thus the REFORMS……get it now? But what will be the tipping point when they release the dinar to the world? This is the key here. I believe it is once they get their private sector growing and allow investment capital to flow freely in and out of Iraq.

So I also have to laugh…lol…lol…. Many of these so called intel “gurus” are claiming the dinar will revalue to 3 to 4 times from 90 cents. They use these exact words so I know they using this article to try to substantiate their proof? Really. First of all the dinar has not revalued to 90 cents. Next this article is talking about the program rate would soar to 3 to 4 times the currency rate, meaning 3 to 4 times less value since the market would be flooded with currency if they did not still conduct the currency window at the bank. This is BAD not good. Get it? This is absolutely nothing about a revaluation. Parliament asked about the currency auctions and the CBI is explaining to them. Many of you gurus better go back to first grade to learn how to read…..lol….lol….)



Central Bank: Iraqi banking sector has made great progress


The governor of the Central Bank, Ali Alaak, said Saturday that the Iraqi banking sector has made significant progress in its activity during the current period, while the President of the Association of private banks, Wadih al-Hanal, announced that private banks are working hard to apply the law to combat money laundering to protect the country from the risks.

(What does this recent article tell us? It tells me they are still having trouble money launderingWhy is it so important that they stop or slow this down?

Well first of all there are new sanctions that mandate this action namely UN resolution 2253, see above article.

This money laundering impacts the value of the dinar against the dollar. It is artificially pumping more dollars into the economy overall, thus driving down the value of the dinar against the dollar. Remember how this post-2003 war economic system was supposed to work. Oil money comes in as dollars (this money is closely monitored), they take dinars, convert (exchange) to dollars (these dollars from oil are now in the CBI reserves), dollars leave county in buying imported goods and services. Thus in theory dollars in vs dollars out. Right? Any dollars from oil sales, not used for imports, is put into the DFI fund for reconstruction money. This is surplus. In theory it should all equal out. But by money laundering (artificially pumping more dollars into the system (not from oil revenue), this messes up the entire intended system, thus the demand for dollars rises and its value rises over the dinar.



So how do they detect this money laundering? They are teaching the banking sector methods to combat it.)  

Al-Alak said in a workshop to combat money laundering held at the Babylon Hotel in Baghdad that the banking sector is currently being developed to develop its employees working on important banking issues such as combating money laundering and risk management, adding that the exercises that are taking place now have developed very significantly and aim to expand the circle of culture and knowledge in Employee Banking.

He pointed out that the banking sector in Iraq is significantly in its activity and has become focused locally and internationally, pointing out that the Central Bank is working to build a sound information base through the use of information technology means.

Head of the Association of Private Banks, Wadih al-Hanalal, said in his speech to the conference that the Association of Private Banks is working hard to apply the law to combat money laundering to protect the country from the risks it is experiencing, adding that the Association of Private Banks has trained about 600 bank employees in the first quarter of the year Current on various banking issues.

He pointed out that the Association of Private Banks is currently developing the relationship with foreign banks in addition to the use of the best technology and the implementation of international standards.

He stressed the need to issue financial statements by financial institutions with the application of international standards and under the supervision of the Central Bank.

Restore confidence

Economy Uz_ Baghdad: 

Yasser mutawalli Most economists agree that the strength of the economy in any country must be accompanied by the presence of a solid banking sector is able to meet the requirements of development and investment.

This overview was still the most important requirements of international investment companies to initiate the implementation of strategic projects in the country and was one of the obstacles to attracting global investment in Iraq.
 
It saw the previous stage an accurate diagnosis of this case by economists who are asking them to provide a solid banking sector to meet the requirements of international investment companies.

Today, we see that Iraq has begun steps to reform in order to promote economic productivity and service sectors and in many important joints, but the observer notes that they are slow in achieving reform goals because of the lack of economic reform requirements, including the existence of a qualified banking sector to respond to the reform requirements – according to experts. (So all the Abadi and CBI reforms are NOT yet completed to satisfaction!)

What is the reason behind the lack of such a banking sector?

The main reason behind the absence of such a sector is due to the loss of confidence in banks, whether by the government or the citizen, regardless of the reasons for the lack of confidence, which has become known to everyone, but it requires the restoration of confidence in the banking sector so they can be the possibility of the implementation of economic reforms in the most important aspect of its requirements, but a banking sector is able to provide the implementation of the reform programs of the implementation of sustainable development projects.

(I did not send the rest of the article. It just repeats itself over again.

So we can see its all now about the Banking sector, Reforms (Stability), money laundering and fighting terrorists (Security). We have read dozens of articles on these topics as of lately. Let’s wait and see what happens at the end of April.)


 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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