Mnt Goat News Update, July 28 - Part 1 of 2 (including a Post-RV Checklist)

7/28/2017



​July 28, 2017 Mnt Goat News Brief

Hi Everyone,

I bring you much news today.

I don’t know about you but I am seeing some trends for disseminating information about Iraq. See if you realize it too.

First for years the news was all about the battle to liberate Mosul. Then for a couple weeks, after this victory was declared, the CBI stood up and took it’s turn explaining what it has done to save the country financially and what they can do for Iraq in the future. Remember Iraq got hit with a double whammy with the drop in oil prices and additional cost to fight ISIS.

This week we heard about the last strong hold for ISIS in the town of Tal Afar, Nineveh, Iraq. The prime minister Abadi said “a special plan” had been laid down for the liberation of the town, a major ISIS stronghold west of Mosul that has been isolated encircled by security forces and allied paramilitary troops. So folks the fun with ISIS is not over. What next? We wait for the “complete liberation from ISIS” not just Mosul.
Now, next comes the banking sector. This week is all about the BANKING SECTOR. Can you see it too? How will Iraq raise this enormous amount of money needed for reconstruction phase?

Many are presenting these post RV checklists to you. By doing this they are alluding to some fact that the RV may happen tomorrow and you should be ready. You should be ready and start thinking about a plan, especially if you are looking at significant exchange proceeds. But I do not see the signs needed to tell me this RV is imminent right now. Iraq has much work to do in the reconstruction phase. There is also still much work to do with the banks so they don’t fail. What do I mean by this statement?

Currently the banks survive in Iraq thru the currency auctions. They make billions of dinars off the legally allowed spread in the dinar exchange rate to US dollars for the auctions. The sanctions force the merchants to continue with the process of exchanging dinars for US Dollars. They have a captivated audience. But they are now telling us in today’s newsletter, they expect to end the auctions and the need to move/convert the banker’s profits from these auctions to the private sector. Remember also the CBI is slowly rolling out the electronic banking and electronically depositing salaries, pensions, etc directly to the bank now. This too raises capital for the banks for lending. But even this will not raise this massive money they need for reconstruction.

More News….

The Council of Ministers decided in a meeting on Tuesday to authorize the Chairman of the National Authority for Investment the authority to negotiate and sign the draft agreement on the promotion and protection of investmentbetween the Government of the Republic of Iraq and the Government of the United States of America. (I hate to say it – but I told you so! The US is not going to let Iraq down since under the Trump administration they plan to heavily invest in Iraq. They will need to protect their investments. The USA is in Iraq to stay, but in a very good way)

More News….

Again I have to clarify some silly stuff floating around. When will this stuff ever end. Do these people spreading these rumors actually believe anyone will listen to them? So let’s cover some of them that had concerns. Thank you George for passing these on to me for clarification.

By now anyone who is reading my newsletters there are two topics that I have explained many times to you and what they are all about: The “New Republic” (or Nessara, Nesara, Nesera) stuff and this “GCR” stuff.

So let me give you a brief run down of the silliness. So it used to be that the restored republic was going back to common law and restoring the USA back to the original constitution. Really? As far as I know the USA is still following the “original” constitution. Since when has is changed? When has this changed in the past? What has changed is this group of charlatans don’t’ like the “original” constitution and want to replace it with their version. This is what they call “restoring the republic”. Then suddenly (like overnight) these same charlatans decided that restoring the republic now includes the entire world. Yes – they are going to save the world. From who? If there is any saving to be done it is from these charlatans. Next, I noticed that the restored republic is now to be done by the GCR. Really?

So let me get this notion correct. Do you mean to tell me the GCR is now going to restore the new republic? How can this be? If the GCR was true (which it is not) then how can this help restore the USA government back to functioning like in colonial days? I don’t get it. Someone please help me!

Why would the USA want to go back to functioning like the in colonial days 1776? Times are changing and so the governments must also change with them. Unfortunately, there are some shady politicians who think like these same charlatans and abuse the USA constitution, step on the flag and keep passing laws (as they create the fear) to work around the constitution. If anything these same people are to watch for and keep away from that give you all this nonsense.

Another rumor is that American Healthcare bill of the Trump administration has buried in it the new US currency (USN) and the returning to the gold standard. Really? So I will tell everyone just one more time – There is no new republic currency (USN) about to be issued, nor is the USA going back to the gold standard. Yes – there are new security features on newer notes that will be rolled out. This is nothing new. Yes- part of the new asset list for developed countries includes more GOLD thus the percentage of gold backed currency has increased to meet new IMF monetary requirements. This a simple tool to lower risk. I would not take this as “going back to the gold standard”. Why would anyone think this? They say this to fit these situations into their nonsense. That is all. Get it?
Next, I do not know who “Grandmother/Quan Yin” is nor do I care. Get it? China or any other wealthy dynasty from China has absolutely no power over the Iraqi currency nor any other currency rates. Monetary policy is managed by the IMF in conjunction with the country of origin. China does not nor will they ever have some magical power over the world’s financial system.

So let me address another bizarre one about Trump’s upcoming public resignation, administration termination and removal. Really? Folks this one tops them all. I could write a book on this nonsense. President Trump is not leaving office until his term of office is completed. Get it? He is most likely to get re-elected and is truly the only president I have seen in many decades who really, really cares about America and making it better. He is knowledgeable and knows the real issues. You may not like my opinion but let’s all just wait and see what happens. Remember we were first told by these “New Republic” charlatans he would be replaced in May. This then turned out to be early July when it did not happen in May. Now that early July has passed and it has not happened, it is moved to early September.

Do you see the cycle of lies that continue from these people. Nothing ever happens on their accord only lies that go on and on. My advice is to stay away from them. Focus on the IQD and what the GOI, CBI and KRG tells us. It is that simple. There is no “New Restored Republic” and certainly there is no special group of people secretly working behind the scenes on behalf of you to put down the cabal. Sorry to bust you bubble if you are one of their followers.

More news….

So now let me present my post-RV checklist to you. Remember this is only my opinion and I am not a legal adviser, attorney or financial adviser.

Tips for planning: (tasks you can do rite NOW)

1. Inventory your assets – all assets including you bank accounts, cars, homes, fine furniture, paintings, gold, etc;

2. How much currency will you be exchanging? Be realistic in your approach to estate planning. Project your proceeds based on common sense, realistic possible proceeds from the exchange. Someone with a 50,000 dinar note vs someone with 100 million dinars to exchange are in totally different situations;

3. Do you even have enough assets and dinar proceeds that warrant you to spend thousands to set up trusts or other tools to protect it? Will it matter in the long run? In other words will you even need to spend the effort to set up all this protection? It is necessary? Will the money all be spent shortly thereafter anyhow? ;

4. Research all the different types of asset protection tools, such as Trusts, Foundations, Charities, etc…Its all on the internet. What applies to you and your needs? Anyone who presents packages of asset protection tools for you and yet then they can’t answer your questions on how to legally use them, STAY AWAY FROM THEM. Seek out someone more knowledgeable;

5. Do not just go along with everyone else’s ideas and what they are using or what you are hearing on these conference calls. Stay calm do not get fearful of the process. It is not hard, just all new to you;

6. Tailor your asset protection tools to what is appropriate for you;

7. Set up your professional team. You want only the best and you want experts in their field with lots of experience. Find a good, honest Estate Planner, Trust Attorney and CPA who also deals with asset protection advice. Do an initial interview with them. Get recommendations from others who use them. What are their fees?

(Post RV, the banks may also offer you these professionals but you still should check them out and make sure you can work with them and they will still require a fee);

8. You DON”T need to setup any Trusts, Foundations or anything else pre-RV. This can all wait until you actually you exchange the currency in to significant money to protect. Get it? There is no hurry, no fear! ;
​
9. Consider these two (2) major issues you will be facing with a very large estate:
Legal Tax Exemptions & Asset Protection- If you devise a sound plan and execute it to include and focus on these two issues you can hold on to your money for generations long after you are dead. You really can’t go wrong. There are other issues too but these are at the main core of concern. Even if you do nothing else, consider these two issues and manage them then I feel you will okay in this regard.
Executing the plan post RV:

1. Set aside money for taxes (I would use 50% of the proceeds as a gauge to set aside for Federal, State and any Local taxes). Seek an experienced tax advisor such as a CPA or someone who will provide legal backup, should they make a mistake. Pay your taxes.

2. Pay off all short/long term debt with high interest rates (such as credit cards, mortgages, auto loans, etc.. Try to get debt free. Do not take on any more debt)

3. Protect your assets: (I am NOT talking about getting more insurance)
- Protect your home. Segregate the home from other assets;
- Protect your vehicles. Segregate your auto, recreational vehicles. campers from other assets;
- Protect your bank accounts, petty cash, gold etc from other assets;
- The key is to have the ability to legally manage everything but not to legally own anything;

4. Seek out safe investments. Take the principle amount (left over from the exchange and paying your taxes) invest it wisely. Try not to ever spend this money. My opinion is to combine 80% no risk, long term, medium returns but guaranteed monthly income, 20% medium to high risk high return. Personally I like long term, lump sum annuities and money market accounts. Make sure you also protect these investments too (such as put them in a trust). Can they be easily liquidated? You want them protected irrevocable. The answer should be NO! You should easily be able to make around 4-5% gain on investments with very little to NO risks. With high risks 10-25%, but you can lose it all too.

5. Find tools that provide legal tax exceptions on the revenue generated from your investments. How can you legally use this 1099 revenue without paying taxes or lowering the taxes?

.Mnt Goat News Update, July 28 - Part 2 of 2

7/28/2017


Barzani meets with US ambassador to Iraq
 
July 27, 2017
Roudao - Erbil
 
The President of the Kurdistan Region, Massoud Barzani, received Thursday evening, US Ambassador to Iraq Douglas Silliman and his accompanying delegation, and discussed the political situation in Iraq and the Kurdistan Region.
 
"The political situation in Iraq and the Kurdistan region, in addition to the military situation and the war on terrorism, was discussed, and the continuation of coordination and cooperation to eliminate the terrorists," said a statement issued by the Kurdistan Regional Presidency. 


The two sides agreed, according to the statement, that the defeat of elements advocated in the city of Mosul, does not mean the end of terrorism, but that this war needs coordination and cooperation between all parties. (So there is still lots of work to be done. Just as I have been saying all along! More evidence I am right. Could be one reason why we still wait?)
 

Opportunities are coming
 
July 24,20017
 
Economists and businessmen consider that the next phase of the richest investment opportunities that the international companies are looking for in relation to the construction and reconstruction of Iraq is the same, but it is natural that the requirements of achieving this goal require considerable funds to absorb its implementation. Because it has huge money, modern technology and the required benefit, but there are challenges and outstanding effects that hinder the entry of these companies with large sums of money. (So they are telling us to move to this next phase of massive economic growth they will need massive funds to rebuild and construct to provide for these international companies to come into Iraq)
 
What is required for this challenge?
 
That Iraq’s need for funds is greater than we imagine to cover the reconstruction and reconstruction due to the infrastructure suffered from the total destruction and strategic projects of disruption and decline.
 
Therefore, the Iraqi banking sector in general has rich opportunities to contribute to the implementation of these projects in various ways through funding, partnership or direct implementation .
 
But since the capital of private banks is weak compared to the requirements of financing construction and reconstruction.
 
What is the solution to this challenge?
In a press interview with the banking expert Faisal Al-Hims, I asked him about his evaluation of banking performance. He said: “Let’s evaluate now. Let the question be what is required of the banking sector in the next stage.”
 
(This next paragraph is the meat and potatoes of this article)
Said: The right way for banks to provide the requirements of the next phase is the integration of banking to raise the amount of funds capable of meeting the requirements of the executing companies.
 
And we should be aware of the banks to the seriousness of dependence on the only product is the currency window, which may end its mission in the next stage. (So what they are saying in this sentence is in the past banks are making their money on the spread in the dinar when they sell the US dollar thru the currency windows (currency auctions). This is a WOW statement! Why?
 
Did you read this sentence? It says the currency windows will end in this next stage. This is exactly what we want to hear. Get it? This stage of massive growth will lead to the dinar going international. This is the only way they can stop of limit these currency auctions, thus the huge bank profits from them. So we know when they no longer need to buy US dollars using Dinar at the currency window, they will have an international currency by then and will use dinar directly to buy and sell goods and services to foreign countries. Folks did you realize how powerful this statement is?
 
So they when the auctions end, how will the banks then provide the capital for investments and loans? Read on and you will learn about their plan.)
 
What will private banks do then?
 
Then it is now necessary to think about looking for a profitable and successful investment that can not be achieved without banking integration.
(Folks they are telling us the answer is going to the private sector for funding. Certainly these small grants we are seeing from China, Japan, Canada, etc are  not sufficient to raise the capital needed for all the reconstruction needed and to prepare the infrastructure to these massive companies to come into Iraq. How much do you think it will take to build these 10 industrial zones alone they referred to last week? I also want to say that the plan for the govt is to get off these social handouts and all these govt run jobs. They want the private sector to provide the jobs thus the people’s money in the bank for long term home and auto loans and investment money.)
 
 
Iraqi private banks association: We seek to open up prospects for cooperation with foreign and US banks are particularly
 
The Minister of Economic Affairs at the US Embassy Larry Mimut on Wednesday, the banking sector , the most important one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop.
 
As Iraqi banks are encouraged to:
 
1.   open relations with the US private banks association, and
2.   at the time indicates the International Development Bank,
3.   that many of the Iraqi private banks in compliance with international standards, and
4.   is ready to open accounts with banks in foreign correspondence because of its unique cadre of integrated services, has accused the Bank of Baghdad administration, government banks acquired the banking business in Iraq because of policies the government supported the banking sector account.
 
This was during a panel discussion held by the Iraqi Association of private banks at its headquarters.
 
Included both the representative of the Central Bank of Mazen morning and the representative of the Union of Arab Banks Khawla al – Asadi and a member of the Committee on Economy Parliamentary Mahdi Al – Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for Economic Affairs Embassy American Larry Mimut, in addition to the representative of the US Treasury in Iraq, with the aim of opening a new page of relations with foreign banks, particularly US banks.

The Iraqi Association of private banks in a statement after the meeting got (range) , a copy of ‘The aim of this dialogue session is to open a new page of relations with foreign and specifically with US banks banks’, where he formed a committee chaired by the representative of the Central Bank, as agreed the formation of a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks and the US specifically. ‘ (Again more WOW news. These US banks can supply the capital for growth for Iraq, but there is a price to pay too. This is more of what we need to see. When the BIG bankers get involved the money flows…..)
Finance confirms inclusion of all ministries and government advances
 
BAGHDAD / … denied the Ministry of Finance, on Tuesday, the exception of some ministries of advances launched by government banks, while confirming that the advances launched by banks to be inclusive of all ministries, without exception.
 
The director of the angel department and the public sector in the budget department in the ministry Kawthar Abdul Ilah’s “Eye of Iraq News”, that “there is no exception to some of the ministries of advances launched by government banks,” noting that “all the news that talked about the presence of Estinaat is news completely untrue. ”
(the rest of the article just repeats itself)
 

Abadi calls attention to the "rumors" and confirms the move to transfer powers to the provinces
 
Baghdad News Agency
26 Jul. 2017
 
Prime Minister Haider al-Abadi on Wednesday called attention to "rumors and suspicious campaigns" aimed at destabilizing the security of society, while stressing the government's move to transfer powers to the provinces.
 
"The fighters who started from the provinces to liberate Anbar, Salah al-Din and Mosul have exceeded sectarianism and achieved national unity and victory in their finest sense," Prime Minister Haider al-Abadi said during a meeting of the Higher Inter-Provincial Coordination Committee. "We have the honor as Iraqis to eliminate the oppressor. The rest of the land in Tal Afar, Hawija and West Anbar with the same strength and determination"
(telling us these areas are still controlled by ISIS and they still have to liberate them)
     
Abadi called for "investing in national unity and working with devotion and sacrifice like the fighters who carried their lives on their shoulders." He stressed the importance of "cooperation and coordination between the provinces and stability and attention to rumors and suspicious campaigns aimed at destabilizing the security and terrorism of society.
     
"Protecting citizens from the responsibility and duty of the government, especially doctors," he said, "is important to clarify the circumstances of these crimes that occur as a result of individual actions and family disputes and not organized crimes as rumored."
     
On the transfer of powers to the provinces, the Prime Minister, "continue to insist on the transfer of powers properly and according to clear instructions and non-interference of politicians in executive matters." (Remember the transfer of power from the central GOI to the provinces? –they called it back then the “decentralization” effort. Sounds to me they still have issues implementing it and its not yet done. This would take the burden off the GOI in many ways. They must move from a Saddam Hussein central govt to self governing district governments lead by the GOI that runs the country as a whole. )
 

Iraqi government says it cannot implement Article 140 of Constitution
 
(You know I get so tired of all the “BS” about HCL and Article 140 implementation. So what is the real status on these? This article is proof once again that what Mnt Goat says is FACTUAL and so all you so-called intel “gurus” who say that Article 140 has been all done for quite some time can go jump in a lake. You are wrong again as you really don’t listen to the news or care about bringing the truth. So here it is in black and white for you today. As I showed you in past articles HCL was passed thru the cabinet but not parliament. Parliament kicked it back to the cabinet for changes, it then when back to the house after the changes and there is sits for a final vote. They keep telling us about the urgency and even have given past target dates for the vote, but it never goes anywhere. Their words not mine!
 
No Rumor, No Hype…..Just the FACTS)
 
ERBIL, Kurdistan Region (Kurdistan 24) – The Iraqi government, in a letter to the Kirkuk Provincial Council, claimed the government "cannot implement" Article 140 of the Iraqi Constitution in Kirkuk.
 
Recently, the Kirkuk Provincial Council asked the Iraqi government to trigger article 140 of the Constitution in Kirkuk to help "determine the future of the disputed territory between the Kurdistan Region and Iraq."
 
Article 140 states it is the responsibility of the Iraqi government to "perform a census and conclude through referenda in Kirkuk and other disputed territories the will of their citizens, by a date not to exceed the 31st of December 2007.” (So the required census needed to implement Article 140 is late. It was supposed to be done already in 2007)
 
In an official letter, the Iraqi General Secretariat at the Council of Ministers stressed its refusal to hold a referendum in Kirkuk due to "the non-fulfillment of its conditions," referring to the parameters defined in Article 140 and Article 120 regarding the need to complete a census in the county.
 
Rebwar Talabani, Head of the Kirkuk Provincial Council, told Kurdistan 24 the Iraqi government has "no intention" of implementing the Constitution, saying there is "no option left for [Kurds] but to use other means outside of the constitutional framework" to determine Kirkuk's future.
 
“We will present our recommendation to the Kurdistan Region's leadership to finally decide on the future of Kirkuk, either by participating in the referendum for independence on September 25 or through a separate referendum,”Talabani said.
 
(Lots of talk always about the constitution and mostly about this Article 140. So what exactly is Article 140? Can we read it directly? Of course you can. Here is the link to the entire Iraqi constitution. So no more “BS” from all these so called “gurus’ on its content. You can now read it for yourselves.
 
Link below :
http://iraqinationality.gov.iq/attach/iraqi_constitution.pdf
 
 
Article 120: Each region shall adopt a constitution of its own that defines the structure of powers of the region, its authorities, and the mechanisms for exercising such authorities, provided that it does not contradict this Constitution. (This is the basis for the decentralization that Abadi talks about in today’s news article. This gives him the authority to keep moving in this direction. This is like giving the provinces “statehood” if you want to compare it to the USA. This is absolutely needed since the GOI can not keep tabs and administer the entire country alone.)
 
Article 140: First: The executive authority shall undertake the necessary steps to complete the implementation of the requirements of all subparagraphs of Article 58 of the Transitional Administrative Law. ​
Second: The responsibility placed upon the executive branch of the Iraqi Transitional Government stipulated in Article 58 of the Transitional Administrative Law shall extend and continue to the executive authority elected in accordance with this Constitution, provided that it accomplishes completely (normalization and census and concludes with a referendum in Kirkuk and other disputed territories to determine the will of their citizens), by a date not to exceed the 31st of December 2007.  (In other words this is saying special sessions may be conducted to get this done. Sessions allowed under and in accordance with Article 58)
 
Article 58: First: The President of the Republic, the Prime Minister, the Speaker of the Council of Representatives, or fifty members of the Council of Representatives may call the Council to an extraordinary session.  The session shall be restricted to the topics that necessitated the call for the session.
 
Second:  The legislative session of the Council of Representatives may be extended for no more than 30 days to complete the tasks that require the extension, based on a request from the President of the Republic, the Prime Minister, the Speaker of the Council, or fifty members of the Council of Representatives.
 
(Now you know exactly what the articles say in the constitution. No more guessing. So what’s the big deal about Article 140 and Article 120 anyhow? Why is it so important for the KRG to implement it?
 
Before I answer this question, I have to tell you that you should already know the answer and do not need me to tell you. I have covered this stuff so many times already. But now we hear it once again from Iraqi news media. Everytime I bring out this news I get a follow up bashing that I am wrong. Really? They say this is not needed for an RV. Really? Go back and read the news from the USA and IMF going way back to 2010 timeframe. The constitution must be “fully” implemented to get out of sanctions. So is it fully  implemented now? You tell me.
 
The answer to the problems lie in all the oil revenue generated from Kurkuk. There is plenty of nice rich oil in the region. The KRG wants it included under the KRG region. Then they want a percentage of the revenue generated from this oil to care for the people in it. Who is going to take care of these people? So far, do to lack of a census, the GOI can not determine how much $$$ to include in the payout. This delay is due to the refugees pouring into this region. So the KRG sells this oil outside of the GOI. They don’t like this since all oil revenue must go through the DFI fund (in the past) and now go directly through the CBI). They are bypassing this process since the DFI ended in 2013. Who is really living in Kurkuk as a full time residence? It is always in fluctuation. So at least this is their excuse. So the KRG is now saying they will come up with some kind of formula, but the constitution Article 140 and 120 will be implemented one way or the another.)

Expert: Iraq's potential makes it a kiss for global companies
 
27/7/2017 12:00 am 
 
Emphasize the ability to achieve integrated development 
Baghdad / Hussein Thugb 
Continuing diagnosis of the challenges facing the economic development that a rich country should have, such as Iraq, which has human resources and natural resources, can make it a new economic tiger at the level of the world. 

Economic and financial expert Mohammed Ali Jaber pointed out that the economic development that Iraq is not impossible, pointing out that the possibilities that are available in Iraq make it an economic kiss for the best global economies, and here we can say: Development is not limited to a specific type of sector, Stressing the possibility of achieving integrated development in Iraq, when combined Efforts. 
Quick success 

He said in an interview for "morning": The opportunities are available for economic renaissance and we have to start in the actual aspects that we believe we have the elements of achieving rapid success that can be activated without the need for long periods of time such as the agricultural sector and small and medium industrial enterprises and the tourism sector, developed to provide advanced services to these sectors, which must be linked to strategic plans for the development of all stages to the establishment of major projects in the coming periods and be small and medium enterprises complementary projects 

Strategy. 
In Iraq there are jobs in all sectors that can absorb the local and international effort and create an effective economy in the world according to experts and those interested in economic affairs. 
Effective economy 

He said: This method was adopted in most of the major economic blocs that have been able to create an effective economy and influential in the world, although it does not have the same assets that Iraq has, which requires us to meet again and agree to work nationally to revive all economic joints and draw up actual plans Coupled with an active working environment that moves the national economy to a better state on him. 
Strategy drawing 

Jaber had said in an interview earlier "morning" that the reality of the Iraqi economy requires a plan of economic action court drawn through a national rescue conference includes the parties concerned and represented by the government and the parliament and the private sector and the public in all formations with the support of the banking sector government and Alahli for this effort where the channel that passes including money to development projects and a concrete action strategy that begins with a phased advancement in all sectors. 
 
Recruiting resources 

He pointed out that the conference, which organizes this goal, seeks to establish an existing system capable of mobilizing domestic and international financial resources and reallocating them to serve the economic activity in order to achieve high rates and continue economic growth through modernization, achievement and cash of all financial sector units, Based on practical foundations for the promotion of various economic sectors.
 
Articles End
 
Their words not mine…..No Rumors, No Hype, Just the FACTS!
 
Auf Wiedersehen
Much love to ya all,
Mnt Goat