Mnt.Goat Update 11-30-15: "Here it Comes Again" Part 1

11/30/2015


UU6841 –“ Here It Comes Again“  by Mnt Goat

Hello Everyone, I am only reporting on these articles and trying to make sense of them just like you are. So let’s work together and see if we can make any sense of this latest news and what it means to our investment and this ongoing R V saga.

Sometimes we get into a mind set for many reasons as to when this RV is going to occur. Sometimes it is not reality but a fictional world sensed by everyone searching for the same truth….Truth is knowledge -plain and simple.

Today’s News
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Today is Monday November 30th the last day of the month and “who ever thought we would still be here”. Really? …lol…lol….Well I thought we would be here and I have proved it to you over and over again..lol...

This is not the kind of news you might expect to get today….lol…lol… however there is a lot good news and its is all still pointing us in the right direction. It can only get better as time progresses. Like a detective searching for clues this RV saga can be exciting too. Let’s see what happens next as we enter the last month of December and then 2016.  

[Update: Currency Reform]

I want to keep all of us focused on the truth always and nothing but the truth.. So let me bring to the newsletter today once again an article that was published from Iraq about mid November. This article is telling us so much about the timelines with the CBI and currency reform process. Do you remember this article?

In this article they are TELLING US THE TIMELINE!  Are you listening or so hyped up for this weekend RV your ears are closed?

I quote from the article – “Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department. The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes -- a 50,000 dinar note before the end of this year and 100,000 banknote next year and canceling small ones”.




I quote - “The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes -- a 50,000 dinar note before the end of this year and 100,000 banknote next year and canceling small ones”.

I quote – “This move by Iraq's Central Bank helps to move the country away from the U.S. Dollar and begin to use their own currency for day-to-day transactions”



So what does this tell us?

It tells us they are right on track with their plan for currency reform when the 50k notes was launched (in November just before the end of “this”  year -  2015) it became very obvious to us. We expected it to happen and it did. But here is the good part of the article.

They are telling us they plan to cancel the small ones (meaning the ones smaller than the 50k and 100k notes (10k, 25k etc..) and this statement also confirms as FACT once again  that the newer 50k and 100k notes will be remaining as part of their “permanent” currency.




It also tells us the plan includes getting off the USD which we know for a FACT is now nearly 80-90% of their currency in circulation. So for anyone who thinks Iraq is going to be a USD economy- think again, its not!

Article Begins



CENTRAL BANK OF IRAQ PRESS RELEASE ON NEW 50,000 IRAQI DINAR NOTES TRANSLATED      

A Central Bank of Iraq (CBI) press release discusses the recently printed new 50,000 denomination banknotes for the Iraqi Dinar currency. Earlier this year, the 50 denomination Iraqi Dinar banknotes were removed from circulation due to their low value.

Tempe, United States - November 18, 2015 /PressCable/ --
The Central Bank of Iraq (CBI) has recently printed new Iraqi Dinar banknotes in the 50,000 denomination, the largest in the history of the country. Since the removal of Saddam Hussein's portrait from the currency in 2003, new banknotes were produced in the denominations of 50, 250, 500, 1000, 5000, 10000, 25000 and now 50000. This move by Iraq's Central Bank helps to move the country away from the U.S. Dollar and begin to use their own currency for day-to-day transactions.

A complete translation of the press release, which contains the original Arabic language as well as English, is available at the following website:

dinarrvnews.net/official-central-bank-of-iraq-50000-dinar-press-release/

Here are some details concerning these new notes:
The notes were printed mainly for the purposes of having a larger value banknote in circulation. As of the writing of this press release, this new 50,000 Dinar banknote has an exchange rate of $44.84. Iraq's ultimate goal will be to use their own currency for daily transactions instead of the United States Dollar, which is the primary currency used in the country for larger transactions. The Central Bank of Iraq will release a 100,000 Dinar banknote by the end of 2016, but the actual release date is subject to change, and could be delayed until mid to late 2017.

The banknotes contain an image of the waterwheels of the Euphrates and palm trees in the middle of the note, along with an image of one of the waterfalls in Kurdistan on the right side of the face of the note. The banknotes are written in Arabic, Kurdish, and English. The new notes are 65 mm in width, 156 mm in height and predominantly colored light brown other than the border decorations which have a darker color.

Clipped security thread having 4 mm width in its middle containing animated effects changing color from green to blue when tilting the banknote, having the phrase "The Central Bank of Iraq" written on it.
Advanced security mark known as "transparent window" on the right side of the face of the banknote (the upper left side on the back as well) showing the graphic of the Twisted Minaret in Samarra when putting it on a white background, and showing the number (50000) when putting it on a dark background.

The note was painted with a protective paint to increase the note's lifespan and protect it from dirt and dust.

Low oil prices have affected the budget of Iraq as over 90% of their budget is based on the sales of oil. Fitch, the top bond rating agency, finally gave Iraq their 1st rating, a B minus along with a stable outlook. Fitch predicted a double digit fiscal deficit for 2015, due to the lower oil prices as well as much higher military spending and war costs. "Iraq scores the worst of all Fitch-rated sovereigns on the composite World Bank governance indicator, reflecting not only insecurity and political instability but also corruption, government ineffectiveness and weak institutions," Fitch said.

During the reign of Saddam Hussein, one Iraqi dinar was worth over $3, however, the economy began to suffer when economic sanctions were started in August 1990. Due to excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, U.S. $1 was valued at 3,000 dinars. Today, it's about 1,166 dinars to $1. Annual inflation in Iraq is currently about 2 percent.

Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department. The plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes -- a 50,000 dinar note before the end of this year and 100,000 banknote next year and canceling small ones.

Article Ends  

What’s New?

So over this weekend we learned the “Progress of Development Policies Institute” hosts on Saturday Governor of the Central Bank for the purpose of discussing monetary policy. See article below.
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Article Begins



PROGRESS OF DEVELOPMENT POLICIES INSTITUTE IS HOSTING TOMORROW'S CENTRAL BANK GOVERNOR TO DISCUSS MONETARY POLICY      

Baghdad
The progress of development policies Institute hosts on Saturday Governor of the Central Bank for the purpose of discussing monetary policy.

According to a statement of the Institute received by all of Iraq [where] a copy of it "will be hosting the Governor of the Central Bank on the Keywords tomorrow in the Institute building at 10:30 am to talk about monetary policy and the reserve is located, and other files related."

He added that the symposium which will join the elite of finance and economy experts.

Article Ends

So what did they talk about in this symposium?

Well what we do know shortly after the end of the meeting they began talking about the project “to delete the zeros” once again. They also talked about reforms needed for the money auctions. Could the corruption in the money auctions be a part of the halting the 50k notes?

Remember late last week it seemed everything was being put on hold until next year. We are assuming “early” next year as I can not imagine going far into 2016 and opening the budget without some kind of currency reform, but that is only my opinion.  

Then out pops three more articles on currency reform shortly after this symposium. Wow! Three more articles in only two days? Better pay attention if we see this much talk in such a short period of time. Something is going on.

So lately we hear the completion of the auditing process of 50 private banks throughout Iraq. The results show that 40 out of 50 where involved in money laundering to some degree. Mostly associated with the money auctions. Could this also be a reason why they halted the project to delete the zeros until next year? Can they correct the situation and quickly more forward again?

Article #1 and #2 below is the CBI speaking out from the findings and recommendations of the symposium held on Sunday (see article above) about actions necessary to protect these money auctions. The governor of the CBI is telling us they will continue the money auctions but they need laws (legislation in place) as to how they will be conducted (they already have the anti-money laundering act but this is only catching the corruption after the fact). However, remember they also told us a couple weeks ago they intend to slowly decrease these auctions and eventually they will go away (probably post RV).  

I quote from the article - "the meeting took a series of recommendations, including work to enact clear legislation that unambiguously to protect the decision-makers and those with the powers of the employees of the Central Bank

I quote from the article – “the meeting of the meeting was to face questioning random accusations made against the Bank's work campaigns Central by some of the non-professionals, which found its way into the media and involved a great deal of inaccuracies and misunderstandings, and may entail negative effects on the stability of the market and investor expectations, which could be extended to damage to the financial and banking transactions at home and abroad”.

Article #3 below is yet more commentary and opinion of economists on this subject of past successful monetary reform programs in three countries: Germany 1923-2002 with the Reich Mark to Deutsch Mark to Euro, also talked abut the Bolivian Pesos 1960-1986 and its conversion from hyperinflation 1 million pesos per 1 new pesos issued, then also the Sudanese currency and its conversion 1957-2006 from the pound to the dinar converted 1 pound sterling to 100 dinars.

The point in telling you this in article #3 is they are now studying the success stories of other countries who were in similar situations and needed  major currency reform. Are they struggling with finding the appropriate solution for Iraq? Are they are doing this to make the citizens more comfortable with what they have in plan and to also let them know Iraq is about to go through the same kind of a process?

Do they need to help the citizens feel comfortable with this upcoming process in the midst of the recent 50k distribution efforts and all the criticism and accusations towards the CBI. I know from my sources in Iraq that there was major complaints and criticism for the launching of the new 50k notes. They claim they do not want yet more of the intermediate 3 zero notes. What the people want is a permanent solution and to get out of this post war currency. They want VALUE to their currency. So did the 50k project also flop?

In other words they are prepping the people. So we know they are coming up with a plan and we know it will be successful just like in Germany, Bolivia and Sudan. Same idea just a different plan.

Article #1 Begins



CENTRAL BANK PUTS THE MECHANICS OF ACTION TO ENSURE THE STABILITY OF THE EXCHANGE RATE AND PREVENT SPECULATION      

OUR ECONOMY / BAGHDAD

Central Bank of Iraq, announced on Sunday, for his quest to enact legislation to protect the decision-makers of the accusations, stressing continuity in the working mechanisms to ensure exchange rate stability in the markets.

The governor of the bank on the Keywords in a statement the agency "our economy" has received a copy of it, on the sidelines of a meeting with a large number of academics and relevant experts on international reserves and window sale of foreign currency at the central bank, that the meeting of the meeting was to face questioning random accusations made against the Bank's work campaigns Central by some of the non-professionals, which found its way into the media and involved a great deal of inaccuracies and misunderstandings, and may entail negative effects on the stability of the market and investor expectations, which could be extended to damage to the financial and banking transactions at home and abroad.
He added that "the meeting took a series of recommendations, including work to enact clear legislation that unambiguously to protect the decision-makers and those with the powers of the employees of the Central Bank of the charges and conjectures that are harmful to their reputation and the reputation of their institution ancient and issued by some parties, either because of ignorance, or political self-interest motives ,. and give them legal immunity enjoyed by their counterparts in the world's central banks. "

"The recommendations approved the continuation of the central bank in its direction and working mechanisms to ensure exchange rate stability, and to prevent speculation, and the removal of the big differences from the official price, and the adoption of full transparency in sales by selling the currency window", adding that "Among other recommendations adoption.

The study submitted by the governor, as a general framework for the work of the Central Bank and the options available to him, and distributed to professionals and the media in order to shed light on the facts, and dispel the image blur on the work of the Central Bank mechanisms. "

Article #1 Ends

Mnt.Goat Update 11-30-15: "Here it comes Again" Part 2
11/30/2015


Article #2 Begins



SELLING  THE CURRENCY WILL NOT CLOSE THE WINDOW IN THE CENTRAL AND WILL NOT PRINT THE CURRENCY AS THE FORMER REGIME      

Said Governor of the Central Bank of Iraq on the Keywords that he is not ready to close the sale of the currency, which raised around a lot of controversy after being confronted by the central bank charges of mismanagement as a result of adoption of this mechanism in the currency exchange window.

It also accused private banks as exploited for smuggling and money laundering.

Keywords and said while attending a panel discussion about the central policy and integrity in the presence of a personal political and economic "It surprised by the statements objected to the sale of foreign currency to citizens by the central bank window fact that Iraq imports dollar and expenditures of state and local currency which requires the central bank to sell dollars to get the local currency to meet the expenses of the State and the dollar can be described with the commodity needed by the citizen and obtained from legitimate outlets and simply as stipulated in the Central Bank of the laws.
....
"He Keywords that" many of the measures taken by the Central Bank to control the movement of funds and monitor their movements and their sources and address the mistakes of the past that.

"and the relationships that only 20% of State expenses in dollars, a foreign expenses for debt and imports ministries and the rest in local currency, revealing the central bank governor that in this year and reached the hypocrisy of the state to 54 trillion dinars, the volume of non-oil imports of which were three trillion local currency and the remaining oil imports in dollars was sold in the local Alasouk to bring Currency local.

As ills Keywords reason for his refusal to close the sale currency window to reality requirements as described Keywords said "the central bank has no dominance to sell the currency, but rather imposed by reality, and sales volume depends on the size of the request of the State of the local currency, and that the mechanism adopted for the implementation of the Bank's policy Central, which provides cash to curb inflation and to control the exchange rate.

With respect to waive the cash reserve with the central bank and media excitement chasing this thing, this Keywords reject al-Qaeda and said that this proposal due to lack of awareness and knowledge of the Iraqi Central policy and between the funds in the central has not reserves but it is a balance of foreign currency paid the local currency and said it flexible monetary mass fall when demand for the dollar and rise when demand for the dollar decline.

Keywords and said that the study released by the International Monetary Fund predicted the rise of the Central stock of hard currency in 2020 to $ 91 billion the fact that Iraq's imports will rise in the next stage.

In response to a Question face of the hanger on the identification of a specific timeframe to close the currency sale of dollars in the central bank window replied, "that he once available other outlets to provide the dollar in the domestic market such as remittances from the outside to the inside or the export of goods or attract investment that will cover the market need of hard currency will close sales window.

Preparations for the central bank to avoid a financial crisis caused by low oil prices in the event of continued decline and if the central resort to printing currency also work in the nineties of the last century the days of the imposition of international sanctions on Iraq and the resort of the former regime to print currency? Keywords that procedure flatly refused and said the central bank laws prohibiting printed currency in this way.

Article #2 Ends

Article #3 Begins



INTERNATIONAL EXPERIENCES HAVE PROVED SUCCESSFUL IN CHANGING THEIR NATIONAL CURRENCIES      

11/29/2015 0:00

BAGHDAD - Imad emirate
There are many goals that can be achieved as a result of changing the currency of any deletion of zeros, including the promotion of confidence currency at home and abroad and re-standing regional and international her, and facilitate currency conversion to other currencies process,  the heart of the direction of the currency of foreign currencies to local currencies, excluding banknotes high figures and low-value, as well as put Sticky inflationary expectations and currency management reform and re-structure their categories.

This is what academic d. Abdul-Hussein Ghalibi from the Faculty of Management and Economics at the University of Kufa: Several countries proceeded to change its currency several reasons, and this Germany states that hyperinflation played a role in raising prices to levels not known before in its history as the State proceeded to finance public expenditures for Trbak Securities cash mark which led to the development of inflationary waves from day to day and even from hour to the other with great force.

resorted German government in 1923 to a new currency issue is Rantmark equivalent Elf billion mark, and the next year, the government issued a new currency named the Reich Mark to replace Rantmark one by one, but the difference is that the second was not capable of exchange with gold.

He Ghalibi in an interview for »Sabah»: The Reich Mark characterized this feature was pulled Rantmark of trading in 1948 and was re-mark the issuance and continued to deal until 2002, when the euro, which is released the fourth-largest international reserve currency, where Germany has been at the forefront of leading EU countries.

He then comes the State of Bolivia, which was characterized by historically political coups and economic collapses, explaining she did this state during the sixties of the last century to replace its currency Bolivian was changing its name to the peso at a rate of 1000 thousand bolivianos versus the peso, and the reason is the low value of the Bolivian, and continued inflation escalate where the dollar exchange rate in 1963 is equal to 6.11 pesos and in 1972 came to 20 pesos, and in 1979 he continued his downward fast as it arrived in the dollar price per one million pesos in 1985 then to 2 million in 1986, and after conducting economic reforms stabilized the exchange rate at 8.1 and 9.1 million pesos in the same year was issued the new currency the old in its name any replacement of every one million million pesos and one unit of the new currency, called Bs.

He Ghalibi that the political and economic conditions experienced by the Sudan was one of the main payment factors to change the Sudanese currency issued for the first time in 1957 on behalf of the pound, which lasted into circulation until 1991 as it was replacing the currency and change its name to the dinar, so that every dinar equivalent of ten pounds.

In 2006 and based on political agreements between the Sudanese transitional movements Central Bank of Sudan adopted a program for the issuance of a new currency during the transitional period under the Sterling name to replace the dinar by 1 pound equivalent to 100 dinars.

The most important question is whether that Iraq needs to change its currency? This is what we will leave for discussion at a later topics.

Article #3 Ends

[Update: Nori al -Maliki Saga]

Today I am presenting you with an article that tells us that yet another nail has been hammered in the final coffin of Nori-al Maliki for his corruption. In the suit for court error a decision was rendered to dismiss the claim from the Judicial Courts.  Will it now go to the Administrative Courts?

Go pound sand Najafi and Maliki….lol….

I quote directly from the article– “Federal Court has proven Council of Ministers' decision to cancel the posts of Vice-President of the Republic received a lawsuit Osama Najafi, it said in a decision that "the scrutiny and deliberation of the Federal Supreme Court found that the Prosecutor's appeal against the decision of the House of Representatives adopted Minutes numbered (10) in the ratification of the 08/11/2015 Cabinet decision taken in the session numbered 307 08/09/2015 to cancel the position of his client Vice President claiming breach of the Constitution and laws, and to provide the conditions challenged the unconstitutionality of the resolution. "

Article Begins

FEDERAL COURT ABOLISH THE POSTS OF VICE PRESIDENT OF IRAQ

Abdul Jabbar Zebra

Iraqi Supreme Federal Court dismissed the case made by Osama Najafi, former Vice President of the Republic, saying the health of the House of Representatives who supported the action by the Prime Minister Haider al-Abadi cancel the positions of the three deputies infallible decision.

At a time when Mahtjo Iraq expressed his satisfaction with the decision of the Federal Court that proved Council of Ministers' decision to cancel the posts of Vice-President of the Republic, where received so suit Osama Najafi, who demanded the cancellation of the decision and brought back to the office where cross Iraqi judge was surprised that the Vice President did not know to state Court offers his claim, noting that sue to the Federal Court is a big mistake and that it was provided to the Administrative Court.

Suit for court error

Judge Abdul Rahman Mohammed Rahi he stressed, saying: Vice President Osama Najafi made the request to the wrong court, a right and submit it to the Administrative Court of the Federal Court because they are competent to do so.

He said: What is issued by the Federal Court it is only judicial proceedings .. He continued: decision for form and not substance means the Vice President of the Republic remain in office until the Administrative Court control, so it has to be to provide the House of Representatives their objections again.

Decision to dismiss the claim

Federal Court has proven Council of Ministers' decision to cancel the posts of Vice-President of the Republic received a lawsuit Osama Najafi, it said in a decision that "the scrutiny and deliberation of the Federal Supreme Court found that the Prosecutor's appeal against the decision of the House of Representatives adopted Minutes numbered (10) in the ratification of the 08/11/2015 Cabinet decision taken in the session numbered 307 08/09/2015 to cancel the position of his client Vice President claiming breach of the Constitution and laws, and to provide the conditions challenged the unconstitutionality of the resolution. "

He added: "The prosecutor established his claim before this court as a vice president in addition to his job, and that's where the third person the Prime Minister, in addition to his job that the cancellation did not comment on the House of Representatives authentication and implemented immediately," noting that "the plaintiff may have functional called on decision Council of Ministers dated 0/8/2015. "

He continued: "It is not valid before him in this case, not the defendant in addition to his job nor the third person the Prime Minister in addition to his job Balsafh where the suit established and cited by the prosecution in the request for the introduction of the third person intervention Achtsamaa," pointing out that "the loss of this lawsuit for corroboration From the legal point of antagonism shall be due reply. "

According to the resolution, "the referee decided to answer the plaintiff's claim" Osama Abdul Aziz Najafi "from the point of antagonism and loading expenses and attorneys' fees The agents of the defendant and the Under the third person, and of one hundred thousand dinars, distributed them in half, take out the third person President of the Republic in addition to his job that had been introduced for clarification and the decision was made a majority on 11.24.2015. "

Protesters feel comfortable

So protesters hair on the usefulness of their protests, and said in comments to them on the social networking site Facebook: those who say no point in demonstrations !, the Federal Court dismissed the lawsuit filed by Osama Najafi, demanding his return with his peers as Vice-President of the Republic, and proved our protests approach to health, citing This decision confirms that the demonstrations have their usefulness and they Sagtefon fruits as long as they have planted even tomorrow to sight a close.

A number of protesters that the ongoing demonstrations led to incorrect results as it is not as seen by some useless promised the decision a victory for their goals, stressing they communicate in their protests in demonstrations and raising them to the slogan (continuing) and (Juma behind Juma and
corrupt Ntalaah) that Taathhak all the legitimate demands Elimination of corruption and the corrupt

Article Ends
[Beginning of Questions and Answers]

Question: Kathy Gee - with the news of postponing the 50k notes, will this affect the reconciliation conference and the 2016 budget passing before there new year? I didn't think they wanted to start off the their new year like they did last year. How far ahead is their calendar from ours?

Answer:  As far as I know the targets remain the same. The CBI has been taking hear from everyone in the launching of the 50k notes and I believe this halting is just temporary while they go back and study the next step(s) going forward. Don’t jump to premature assumptions. Its not going to be every over until they get the RV and now is the time. They will endure and continue to plug away at it until they are successful in their plan. The final result may come later than sooner but it will come. Be patient!

The symposium held over the weekend was not coincidental. It was the CBI reaching out for advice and help in this matter of currency reform. They sought out world renown experts in the field that have worked with other countries so there is a solution. You know now also they are studying the monetary process taken in Germany, Bolivia and Sedan.

End of Questions and Answers

I will address questions only one more time in this news letter. So if you have any questions related to this news letter today please feel free to address them in Dinar Recaps and George will forwarded them to me. Thanks for all you great questions so far and I wish this is being helpful. But please read my news letters carefully first before asking the question. It may already be addressed.

[Update: Fighting ISIS]

Article Begins

Article Ends

One more item today:

Let’s not forget to keep praying for the success of THESE IRAQI AND COALITION SOLDIERS. I believe their success is in part some of the acceleration of the process we are now witnessing.

Thank You TJP –

“Lord, protect Abadi and all who stand with him in righteousness, the Iraq and Coalition Soldiers who are fighting the good fight against terrorism, that they would be shielded from the enemy and would be Victorious against them! We ask that the Victory comes swiftly and healing of the Iraqi peoples and all whom have been effected by these evil doers can begin! Amen!

All these prayers seem to be working.”

Till next time…. Auf Wiedersehen!

Peace and Luv To Ya All,
Mnt Goat