Latest Mountain Goat Newsletter March 2

[Rmc10]

March 2, 2018 Mnt Goat News Brief 
 
Hi Everyone,

I bring you much news today.   

So, I took a few weeks off from my newsletter. Why did I do this? 

I did this because I was told the budget was not going anywhere for at least 2 more weeks and that there was a VERY strong connection between the budget passing and the moving ahead with the process in the reinstatement of the Iraqi dinar. So based on this information I am not being told it is ready to move ahead once again. 

So let’s get down to today’s business and see if we can make any sense of it. 

More news….

So where do we now stand in the budget saga? 
Remember I said there may very well be a connection between the passing of the Iraqi budget and the reinstatement of the dinar on FOREX. This is no longer just opinion but FACT. 

So we still see them kicking the can down the road on the budget and now it is postponed (in part) to Saturday 3/3 but they did manage to pass many parts of it this week. So the final vote is now very close at hand.  

After voting on several articles already, members of Parliament walked out before voting on and the passing of the final budget parts. Some KRG parliament members are still boycotting. Abadi says the vote will be live Saturday on TV so that the citizens can see exactly whom is causing problems and the hold ups.  

So the three presidencies held a meeting to get the budget passed earlier this week. So far they voted on 12 of them, out of about 48 articles, before breaking the quorum, and withdraw the Kurdish deputies from the session, because of the inclusion of the budget on the agenda of the meeting.  The news media is telling us the complete budget will get passed on Saturday, tomorrow. Really? 

A Kurdish parliamentary source said on Friday that the Kurdish blocs will resort to the Federal Court to challenge the budget decision on the share of the region.

Who are the trouble makers? You guessed it. It is the KRG members in parliament once again. Can you see now why the GOI has to break up the “Kurdistan Region” into autonomous provinces like the rest of Iraq? Can you see this coming? They can not continue to operate this way. 

So certain members of Parliament that were absent from voting will be fined. Abadi again on national TV warned everyone that there would be  serious repercussions due to the budget not being voted and passed as scheduled, if not concluded by Saturday, however, the Kurds are vowing to continue their boycott of the vote.

Accordingly the 3 presidencies met late Thursday evening (last night) and concluded the percentage of oil revenue that would be allocated for the Kurds in the budget. 

Does the budget reflect the reinstatement Rate? 
So is there really a connection between the RV and the Budget? Some say the new reinstatement rate is in the budget and so there must be a connection. I say these so called gurus are once again jerking you around in their ridiculous ideas of how the budget works. 

Why in hell would they put a reinstatement rate in the 2018 budget? THINK, THINK AND THINK some more?????? Why? Does not make any sense since a dinar is a dinar and the budget it really based all on the price of oil not on some future market price of the dinar in the global exchanges. Get it? How would the increased value of the dinar on the global exchanges really effect the market economy in the near future? How can they gauge the budget on anything that is so fluctuating? Since the IMF plans to put the dinar on FOREX and float it what sense does this then make? 

So let’s also put this stupid notion to bed. Can we? This only shows just how ignorant some of these gurus really are. Of course they do this to hook you and convince you that the passing of the budget does matter for us to get the RV. This is there only connection, which in not really real anyhow. 

What is the real importance  of getting the budget passed?
Maybe there is a connection between the two, but at least let’s be FACTUAL and not more of the same old lies. So there is really NO PROOF that there is a connect but we can see and track the stalling of the budget to a real time stalling of the new rate on FOREX. 

We get windows of the RV opportunity and they it stalls again and again, as the budget stalls. Why? We just don’t yet know the connection other than  the US government and the IMF has put its foot down and told Iraq (mandated to Iraq) that they need a solid budget in place first. This is FACT not some rumor or my opinion. I have researched this and this is what I have found out. I am  not just repeating with some other “guru” said on their call either…. 

More news….

So the biggest question on everyone’s mind over these last 2 weeks is – did Iraq meet its goals during the Donor Conference? We know Iraq was seeking between 80 and 100 billion to reconstruct the war-torn areas. 

Iraq’s Allies Pledge $30 Billion Toward Reconstruction Amount and this still falls short of what World Bank and others say is needed to repair the                                                                                                                       damage caused by war against Islamic State.

Entire story at: 
https://www.wsj.com/articles/iraqs-allies-pledge-30-billion-toward-reconstruction-1518628206

More news….
                                                                                                                                                                                                                                                                                                                                                             
that the currency auctions are auctioning off Iraqi dinars, thus more dinars being spread into circulation and sold to US brokers. This really makes me wonder about these people. What else are they misguiding you on?

I can assure everyone the currency auctions is just a term. First of all, the currency auctions are not actually “auctions” as one might think. Instead is it simply a special window in the bank where merchants take their dinar (as it was given to them when the public bought their goods or services) and convert it to US Dollars to then pay for the imports they sold or services rendered by foreigners. This money goes to outside sources. This is all it is. Remember the UN set Iraq up for a “closed economy” to watch closely they oil revenues and where they were going. Since they still must go thru this conversion process this means they are still operating under the sanction mandates. But we know these mandates no longer apply and the CBI is free to do what they want with the currency of Iraq. So why are they still doing these auctions? 

Remember the IMF is trustee over the CBI since 2016, and desires to move Iraq into the real world. We read articles of ending the auctions to the point that it will soon become a reality.

Anyhow my point is the dinars you and I have, have NOTHING to do with the currency auctions and instead it is simply that these dealers outside of Iraq are buying dinars from one or more of the major banks (with a spread of course) and yes there is no restriction on what currency they can use to pay for them, if the bank wants to accept the currency i.e. Euros, Pounds, etc they can. 

So please let’s get this straight once and for all. So why are many then following the currency auctions so diligently? I do not see the relevance except that we know at some point the will scale down the auctions since they will no longer have to convert large sums of dinar to US dollars to pay for the goods and services. I just hate to see anyone run around and around in circles trying to catch their tail or run around in that rabbit hole. Yes, BGG (and others) I am only trying to help you understand the process are you listening?  Maybe then we can all make more sense of it coming from the same level of knowledge. 

More news….

Based on a directive issued by the Ministry of Industries, Mining and Trade, the ministry-affiliated National Trade System announced that as of Wednesday, all traders are prohibited from registering their import orders using the US dollar.

This directive, however, will not apply to applications filed before the aforementioned day.

The directive was proposed by the Central Bank of Iran about two weeks ago but has been enforced by the Ministry of Industries, Mining and Trade, reported IBENA, the news website affiliated with CBI.

This is while as of Wednesday, CBI’s new electronic system for purchasing foreign currencies became operational on a wider scale. The system now reportedly offers all currencies to importers and exchangers, except for a handful that includes Japan’s yen, South Korea’s won and Thailand’s baht. 

(Mnt Goat – this will have long term consequences for trading relations with Iraq if the CBI does not move forward with the reinstatement of the Iraqi dinar and get the dinar traded globally. Remember we have been told the GCC voted on all countries in the middle eastern GCC pact to trade using their own currencies. Are you beginning to see the pressure here in getting this currency reform process completed?) 

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Formal Articles are below. Due to limitations they do not print my RED colored fonts or italics, so my comments are in brackets (  ) throughout the articles. I will preface my comments with “mnt Goat” so you know I am jumping in with observations. Also, I separated the articles with asterisks. 
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Articles Begin

The three presidencies meet tomorrow to resolve the budget dispute

(Baghdad: Al-Furat News) The three presidencies will hold, Thursday, an important meeting to resolve the dispute over the draft budget law for the year 2018.

A parliamentary source told the {Euphrates News} a copy of it that “the meeting will discuss the resolution of controversial issues, especially with regard to the budget of the Kurdistan region.”
“The meeting was held before the parliamentary session scheduled for tomorrow at 1 pm.”

He added that “the parliamentary finance committee reached final consensus in most of the demands of the blocks in the budget, except for the introduction of representatives of the Kurdish component.”
He drew the source to “insert the draft budget law on the agenda of the session of the parliament scheduled Saturday if the three presidencies resolved the dispute on it.”

It was scheduled to hold the House of Representatives, its regular on Wednesday, but the continuation of the dispute over the draft bill of the budget of 2018 caused the withdrawal of the law from the agenda and postpone the meeting to Thursday. 

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JUBOURI CALLS ON ALL MEMBERS OF PARLIAMENT TO ATTEND TOMORROW’S SESSION TO VOTE ON THE BUDGET

Baghdad: Speaker of the House of Representatives Salim al-Jubouri, on Wednesday, all members of the Council to attend the meeting on Thursday for the purpose of voting on the federal budget.

Jubouri said in a statement to his office received the agency {Euphrates News} a copy of it today that “delaying the adoption of the budget will cause a significant obstruction in the work of state institutions, especially in the current financial and economic situation, and will cause the growing market stagnation and slow trade, as well as political problems that Will result from this delay. ”

He stressed that “we all aspire to achieve more achievements and work to consolidate permanent stability through the preparation of economic and development conditions, and the need to look seriously and realistically to the conditions of citizens and work to improve the living conditions and service them, and the general budget is the most positive factors to achieve it.”

He called on the Speaker of the House of Representatives all members of the Council to “attend the session Thursday to vote on the budget and not to repeat the mistakes of the past.” is over

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PLEDGES FROM THE KUWAIT DONOR CONFERENCE – WAS IT SUCCESSFUL?

Alsumaria News / Baghdad 

A number of Arab and foreign countries announced on Wednesday pledges of $ 10.01 billion at the Kuwait International Conference for the Reconstruction of Iraq, according to a report by the Kuwaiti newspaper Al-Qabas. 

The report said that Turkey announced at the special session of the declaration of the pledges of the Conference today, pledges of $ 5 billion in loans and credit facilities, while Saudi Arabia announced a billion dollars for reconstruction through the Saudi Fund for Development, in addition to 500 million dollars to finance exports Saudi Arabia for Iraq. 
 
In turn, Qatar announced the allocation of a package of loans and investments to Iraq worth one billion dollars, while the United Arab Emirates for 500 million dollars, and the Islamic Development Bank is ready to provide funding of 500 million dollars. 

The Director of the Arab Fund for Development, according to the report, to reach a settlement with Iraq, which allows him to benefit from the financing of the Fund by one and a half dollars, while Finnish Minister of Trade announced a pledge of $ 10 million in demining, and Malaysia pledged $ 100 thousand dollars. 

The meeting will be held on Wednesday at the Kuwait International Conference on Iraq Reconstruction, which was hosted by Kuwait two days ago. 

Prime Minister Haider al-Abadi assured investors on Wednesday at the Kuwait conference that the government would not stop fighting corruption. 

Kuwait's emir, Sabah al-Ahmad al-Jaber al-Sabah, announced on Wednesday the allocation of one billion dollars in loans to Iraq, while another one billion dollars to help rebuild Iraq. 

World Bank President Jim Young-Kim announced Wednesday that the bank had contributed $ 4.7 billion to rebuild Iraq, stressing his desire to increase the amount, pledging to continue helping build the Iraqi state for its importance in the Middle East.

(Mnt Goat - Iraq Wanted $88-100 Billion for Rebuilding. Allies Offer a Fraction of that amount. Read it for yourself. Their words not mine. There are probably some donors not listed but still it appears this was not as successful as hoped. Maybe if they RV’d their currency first?)

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UN DECLARES IRAQ IS READY TO REFORM THE FINANCIAL AND ECONOMIC SECTORS

UN Secretary-General Antonio Guterich declared Iraq ready to reform the financial and economic sectors.

Guterich said in his speech to the Iraq reconstruction conference held in Kuwait, “The United Nations development programs are working in 25 areas in Iraq to help Iraqis and develop their living reality.”

“The United Nations is launching a grant program that will help repair infrastructure, improve the day-to-day and help improve economic reforms and revitalize the affected areas,” he said.

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REUTERS: IRAQI PARLIAMENT DEMANDS TIMELINE FOR FOREIGN TROOP WITHDRAWAL: LAWMAKER 

3/1/18
 
BAGHDAD (Reuters) - Iraq’s parliament demanded on Thursday that the government set a timeline for the withdrawal of foreign troops stationed in the country to help fight Islamic State, a ruling coalition lawmaker told Reuters. 

“Parliament voted on a decision to thank friendly nations for their support in defeating Islamic State and at the same time to demand the government set a timeline for the withdrawal of foreign troops,” said Husham al-Suhail. 
“It is up to the government to decide how long we need them here -- one year, two years, it’s up to them,” he added. 
 
A U.S.-led coalition was formed in 2014 to fight Islamic State in Iraq and Syria and has thousands of troops deployed in Iraq. It provided key air support to Iraqi security forces who declared victory over the militants in December.

Articles End

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

Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice. 

In ending I want everyone to know your constant prayers in the fight against evil (ISIS) in Iraq have worked. God has guided these young men and women on the battle field. Let us all now also keep praying. I have composed a prayer maybe we can all pray today in our own way and until the revaluation occurs. 
 
PRAYER

“For the prime minister and all his cabinet members, and parliament that they may be anointed by the Holy Spirit to do God’s will and bring the free Republic of Iraq to the much-deserved prosperity and abundance thru justice and freedom from oppression and corruption”. That they may be a shining example for the rest of the middle east and the world to follow. In the name of Jesus Christ our King and Savior, Amen”

Auf Wiedersehen 
Much love to ya all, 
Mnt Goat

[yendor]

If their Government is anything like the way that our Government has become, nothing will get done there just to p**s off Trump.

[DinarThug]

1 hour ago, Rmc10 said:

March 2, 2018 Mnt Goat News Brief 
 Hi Everyone,

So, I took a few weeks off from my newsletter.

 

Goat Home - And Next Time Stay Away Longer !  

 

     

 

 

(Thx For The Laugh Rmc !)    

[Rmc10]

I read her stuff every week when I have nothing else to do. Figure I would start posting in here so you guys can read it too.

[crane]

A simple solution to getting things done in Iraq ,that is to cut the govermental gurus Wages, they where getting some where in the neighborhood of 25000 U.S dollars per month back about 13 or so years ago, can you imagine what they are getting now????????????And they have not moved ahead, they just fight and argue, cut there dam wages and tell them they have so much time to get things done , if not done, cut off all funding to Iraq ,game over............They will get,it done, mark my words.