UU6903 – “Its Déjà vu - Again”
Many of you have expressed the lack of interest in “ready a book” each time for Mnt Goat news letters. Seems all you want is a quick date and a rate. All I can say is then go to the other calls, forums and blogs that will hype you up and give you the everyday / anyday / imminent scenarios with the Monday morning disappointments.
This news letter is simply not for you and so stop reading it! It should be apparent by now Mnt Goat news letters are intended for an inner circle of friends and speculators only. The public was allowed to read these news letters only by the generosity of my good friend GeorgeH, who volunteered to post them in the other forums. So be thankful you are even reading them at all.
I do not believe in the GCR as I know for a fact it was a long misunderstanding and of twisting the facts to suite the purpose of selling more currency. I know for fact many of these so called “gurus” were pumping currency sales and this is how they were doing it.
As time passed the GCR turned into what it is today as any rumor will if you say it enough over and over again. It is but mere gossip and yet more rumors. It sounded so good people were gullible enough to believe it. Oh – but where are the 190+_currencies that were supposed to RV? Really? Oh – but now it’s down to only a handful, Really?. Oh- but what about saving the world from financial disaster….etc..etc..Really? Give me just one shred of evidence after 5 years of the GCR info to prove it. Please give me facts and not more rumors that justify more rumors.
So you can stop wasting your time thinking about any currencies other than the Iraqi dinar revaluation. You wanted Mnt Goat’s opinion….well then there it is.
So George tells me many want me to tell them about this guy named Dr Clarke. As far as I am concerned if this is what you want YOU can go and research him/her for yourselves. Are you lazy and want Mnt Goat to do the work for you. Who do you think I am? Shame on you! You read my news letters about my information yet you want me to tell you about news of some other person’s viewpoint or information? Go fetch this other person’s information and viewpoint for yourselves. Shame on you again! I don’t know Dr. Clark nor do I care to know him/her. I have listed out who you can trust to give you reasonable information regarding the Iraqi dinar revaluation in my past news letters and I will not repeat them again. Stop being so lazy and go and read my past news letters. Oh- but they are too long to read?
When are many of you going to learn there is NO ONE who knows any secrets about when this RV is going to happen. Read my lips NO ONE !
I personally believe not anyone, not even the top leaders and officials or IMF planners know of a date since this date does not yet exist. I say this because contrary to your short sided belief, there is NO set predetermined date because no one can project when Iraq will be ready. Do they have targets? Sure but does Iraq meet them on time? Just look at what they are doing right now. Does it look like they can revalue their currency tonight or even in the next week?
My only guess for a future RV is when they will have political and physical stability and finally they can settle down to behaving like a rational, responsible developed nation that is ready to play with the BIG BOYS. Right now they are a “closed” economy restricted under Article 14 of the UN charter (left over sanctions).
As a member nations status they will someday take off their training wheels and move to Article 8 but not until they are ready. China does not and will not have any say in this process. Nor does this NASARA make believe organization that I keep hearing about. We are still waiting for the day when Dr Shababi will come back to the CBI , as he is the only one who will make this RV happen when the time is ready. Do you think this might be something to watch for? What about the “basket” of laws they promised us back in December? Do you think this might be something to watch for?
So as I keep placing emphasis over and over again on the areas of our concern. Not what some other so called “guru” is saying or some stupid idea of “saving the Republic” that is holding up the RV. How utterly ridiculous of a notion! You simply have to be mentally handicapped to EVEN BEGIN TO BELIEVE there might be some validity in all this stuff.
Today is Friday February 5th 2016. Still no RV. Oh- but the I thought the “gurus” way back in December were telling us the RV was all done and we are “just waiting our turn to exchange”. Do you now see just how foolish these statements are? Can you see just how lame and uninformed their so called “high level” sources are? Why do you even take the time to bother listening to all this crap?
We must watch Iraq and the CBI, Finance Ministry and Parliament. Only these establishments will give us CLUES as to when we can expect any significant increase in the value of the Iraqi dinar. The CBI actuall told us out straight that they plan to inform the people on an ongoing basis the next step in the currency reform process. They seem to be doing just that.
The fate of Iraq is in the hands of Iraq. So if a date and a rate is truly what you want – then here is the way to get it. There is no other evidence. Go to the source (the real source….lol…).
Update: Currency Reform
So here is an interesting article. Seems parliament now too is getting fed up with the inaction, mismanagement and ineptitude of the CBI in being able to control the currency of Iraq and to ensure domestic price stability and foster a stable competitive market based financial system..
The primary objectives of the Central Bank of Iraq (CBI) - “ to ensure domestic price stability and foster a stable competitive market based financial system. The CBI shall also promote sustainable growth, employment and prosperity in Iraq” .
Do you believe the CBI is successful in meeting their mandate under the current leadership?
IRAQI DINAR EXCHANGE RATE .. PARLIAMENT MET WITH THE CENTRAL BANK AND BANKS TO DISCUSS FINANCIAL CRISIS
Parliament meets with the Central Bank and banks to discuss financial crisis
The Iraqi parliament on Wednesday, with the central bank and managers of banks government plans to overcome the current financial crisis.
This came during Vice President of Iraqi Council of Representatives Iaram Sheikh Mohammed, a meeting with the Governor of the Central Bank on the Keywords and Mohammed Hadi Karim Director General of the Agricultural Bank and Kazem Mohammed fistula Director General of the Industrial Bank, During the meeting, which was attended by heads and representatives of Kurdish blocs in parliament and members of the parliamentary finance committee DISCUSS THE PROCEDURES AND PLANS TO ENSURE SUPPORT FOR THE IRAQI GOVERNMENT TO OVERCOME THE FINANCIAL CRISIS.
He said Sheikh Mohammed, in a statement on the importance of the central bank seeks to secure liquidity and prevent the creation of the beneficiaries of the crisis on the market and the expense of the economy.
"We old fiscal policies exceeded, methods and work hard it possible to provide aid and loans to citizens in all governorates of Iraq and the Kurdistan Region and the financing of their projects to the recovery of the domestic market, and encircle the repercussions of the economic crisis that caused the drop in oil rates in the world."
For his part, on the Keywords that the Central Bank has taken all measures in order to support the citizens and the private sector, especially in this period, adding that the bank launched a $ 6 trillion Iraqi dinars for agricultural, industrial and real estate for banks and granted to citizens by small, medium and small-sized enterprises, in order to move the market and create new opportunities to work.
Participants in the meeting agreed on the need to take practical and serious steps to support the citizens, as has been discussed a number of files, PARTICULARLY THE IMPORTANCE OF MAINTAINING THE STABILITY OF THE IRAQI DINAR AND SUPPORT AGAINST OTHER CURRENCIES, AND THE DEVELOPMENT OF THE BANKING SYSTEM AND THE CONTROL OF THE IRAQI DINAR EXCHANGE RATE.
Update: Needed Laws
Here we go again more publicity on the oil and gas law. But when will they bring it up for a vote. That is what we want to know. We know HCL is all ready as this article is telling us below.
I quote from the article – “the government to complete the project of oil and gas law and send it to the House of Representatives for approval, in a step towards resolving the economic crisis”. “as we are still waiting to be incorporated into the agenda acts of the House of Representatives. "
Incidentally does this article sound familiar? Déjà vu time…lol..! Didn’t we see a similar article about the General Amnesty law not too long ago. So when is it too coming up for a vote?
FRIEND: OIL AND GAS LAW SIQSAM AFTERNOON DIFFERENCES BETWEEN BAGHDAD AND ERBIL
Special - scales News
Said the Commission on oil and energy parliamentary member Tariq friend that approval of oil and gas law Siqsam afternoon differences between Baghdad and Erbil, referring to the need for approval through the new legislative term.
He called the National Alliance earlier, the government to complete the project of oil and gas law and send it to the House of Representatives for approval, in a step towards resolving the economic crisis.
The committee member said Tariq friend's / balances News /, that "the federal government withdrew before more than 115 period a draft bill from the parliament for reconsideration based on the reforms and the measures to which they belong, including the draft oil and gas law, as we are still waiting to be incorporated into the agenda acts of the House of Representatives. "
The friend added, "This law will solve the existing problems between Baghdad and Erbil because he hurt the interests of both parties in terms of commitment to the rights of all of them."
He pointed out that "we also need a national oil company law and rounds licenses and a lot of things to facilitate oil and energy issues, as the beneficial licensing rounds for people in financial terms, but there are some things that need to be adjusted by the Iraqi legislature on some of the conditions in these tours with companies foreign and domestic, since it after more than 20 years will change the oil and the needs of Iraq and the global market prices, so it should reconsider its order to fit with the current conditions and the great burden on the government. "
He explained, "we have established a seminar two weeks in the oil ministry before to discuss this subject, and suggested some members of the Commission on oil and energy parliamentary mechanism to prepare a draft law of the national oil company, but it should be enactment of the oil and gas law first and then other corporate legislation of laws."
And concealed the previous sessions of the House of Representatives in approving the oil and gas law as a result of the growing differences on many of the main paragraphs.
Update: Economic Reforms
So we see Jubouri traveling to the USA to have a meeting with the VP.
I quote from the article – “during the meeting, in-depth research of the developments in the political situation in addition to the security situation”
I can assure you this meeting was mostly about the Chalibi files surrounding the corruption with the currency auctions, money laundering and the corruption in the CBI. How will they handle the make-over of the CBI that is way over due?
IRAQI PARLIAMENT SPEAKER MEETS WITH BIDEN, A NUMBER OF POLITICAL AND SECURITY FILES
Khandan - Search Iraqi Parliament Speaker Salim al-Jubouri, in the framework of his visit to the United States, with US Vice President a number of political and security files.
Jabouri's media office said in a statement, said the head of the House of Representatives met at the White House headquarters, Wednesday evening, US Vice President Joe Biden.
The statement said that "during the meeting, in-depth research of the developments in the political situation in addition to the security situation, especially with regard to countering terrorism and the importance of intensifying US support for Iraq in order to complete the liberation of Anbar and Ninevah start liberalization processes."
The meeting also discussed the "overall situation in the liberated areas and to continue efforts for reconstruction and rehabilitation and to support stability through a complete re-displaced people to it," according to the statement
In my news letter dated 2/3, I presented an article on the CBI and how they were offering to the banks 18% interest if citizens kept money in their bank accounts. We all thought that the 18% seemed very high and asked ourselves why would the CBI be doing this and why such a high rate. Certainly 2% or maybe even 4% would be an incentive enough, so why 18%?
So truth be told… finally.
Now we know why the CBI was offering 18% interest on accounts left in the banks. Do you see now how one article connects with another from the past. Nothing just happens. There is always a reason for it. See article below.
Looks like the CBI has their hands full to turn around this economy of Iraq. Where is Dr Shabibi when you need him….loo…lol…?
I quote from the article below – “The Finance Minister Hoshyar Zebari, had confirmed last month that the government may not be able to pay its employees with the holy month of April / April next, due to the oil crisis and the depletion of state resources by the war.”
By the way just in case you have not realized it the government’s ability to pay these salaries and pensions and pay them on time and on a regular schedule is one of the most significant factors in public confidence. It they really, really want to build up confidence in the banks they will have to concentrate more effort on payment of this money on time. Then we can see everything else will fall into place. Let me explain to you why I believe tis to be the case.
What the citizens really need is confidence in the government to pay its debts and manage the banking system.
In the past I have showed you what will trigger Iraq to pop out any significant increase in value of its currency. I told you that the RV would be a by-product of Iraq being almost forced to go global to be able to appropriately trade thus ability of ease to pay foreign investors for both goods and services. Moving from a “closed” economy to a “global” economy would force their hand to move from Article 14 to Article 8 of the UN charter as a member nation.
If the people had confidence in the banks and kept their money in the banks, then the banks would have more money thus more liquidity and more money to loan out. With more loans there would be more investments. More investments would push the envelope to move towards a global economy (a market economy).
If you no longer have a need for the currency auctions (thus eliminate more corruption) they go away since you can now pay foreign investors with Iraqi dinar instead of US dollars. THIS IS THE KEY.
The key is NOT to watch for the Iraq dinar value to rise (good luck with that!) but to watch for efforts to move from their closed economy to a global market economy. The rising of the dinar value is only a byproduct of the process and I have said this to you many times already. The RV comes later only once the economy adjust for inflation (1:1 par with USD).
It is the necessity to go global and move from a “closed” economy to a “market” economy. Again this is the KEY. Get it now? We are now watching for the dinar to rise in value as you would a stock on the NYSE. So once they decide to move to Article 8 we watch for them to put the dinar on a float. Once the currency is on the global exchanges the rate will then settle to the market value (with spikes in between). This process has nothing to do with any other nations “signing off” or China approval or any of these other idiotic news you are hearing. Instead it is simply when the PTB including the IMF, WTO and the USA feel Iraq is ready they will move in this direction. How do we know when Iraq will be ready?
READ THE ARTICLES! THEY ARE TELLING US!
Just as I have been passing the news on to you in my news letters. I have told you what we are waiting for. It is like we all are waiting at a train station for our train to arrive. But where is it? They told us which train (what events are needed) they told us the track number (where to look) but they have not yet told us fully the arrival time of the train (but they will). Actually they have in the past but they always seem to postpone it. So here we wait and watch for the train and a new arrival time.
It is all a cycle but you have to start somewhere. I think perhaps the CBI management just does not know where to begin or is placing the emphasis on the wrong issues to start the needed cycle. Or perhaps it’s the war with ISIS that is sucking up their money. Perhaps once this final battle with ISIS is over things will begin to turnaround. Perhaps this is what we have to wait for. Can you now understand why finishing up with ISIS is important? Once this is completed then they can manage more effectively and give us a more accurate time table for our train…lol…
So now based on what I presented to you TODAY we must ask ourselves this question AT THIS POINT IN TIME. Do you think foreign investors would want to flock into Iraq AT THIS POINT IN TIME?
I am not saying that this situation can’t be fixed and in a relatively short period of time perhaps once ISIS is done. But who is going to fix it? We all know how inept the CBI is with it’s current makeup of leadership. Something has to be done.
I have been making a case for restructuring of the CBI now for many months since my contact in the CBI has been telling me it’s coming..it’s coming. But like waiting for the “basket” of laws in parliament where also are the CBI reforms? Again we are waiting for this train to arrive and we know there is some level of priority put on the tasks to which they chose to tackle and when they tackle them. Wish I had their list but I don’t.
IRAQIS ARE PULLING THEIR MONEY OUT OF BANKS FOR FEAR OF BANKRUPTCY
The Finance Minister Hoshyar Zebari, had confirmed last month that the government may not be able to pay its employees with the holy month of April / April next, due to the oil crisis and the depletion of state resources by the war.
the banker said Hamed Ali: "after waving Iraqi officials recently against the state's ability to pay employees and pensioners in April / next April, the Iraqis began to withdraw their money from banks for fear of seizure by the state if the crisis worsened. " He explained that "the amounts drawn ranging from $ 100 thousand for the accounts of the millions in dollars and 20 million Iraqi dinars for the accounts of millions of Iraqi dinars."
Iraqis currently resort to save their money in their homes or converted to gold hard currencies for easy converted to banks in neighboring countries.
He said economists that Iqbal Iraqis to withdraw their money deposited in state banks comes to a lack of confidence in the government and the fear of the looting of their money if a major breakdown in the state happened. Experts said that the volume of private deposits in state banks could reach 40 trillion Iraqi dinars (about US $ 35 billion), a huge sum leads withdrawn the erosion of the banking system and exacerbate the country's crisis. The economist said Muwaffaq Mahmoud's "new Arab": "81.3% of the deposits are found in government banks worth more than 40.5 trillion dinars and the rest found in private banks, this represents a threat to the banking system."
Morteza Hasani, 51, a citizen believes that "the withdrawal of funds from the State-owned banks is an urgent necessity in the current circumstances, trust non-existent between the citizen and the government does not know what's in store for us the next few days", according to his words.
He said al-Hassani's "new Arab": "If you got an economic collapse it means the collapse of the state from where we will get our money deposited in state banks and even remained the state with the economic meltdown, it ensures that our money will not detain the State or will not be looted if I got a big mess in the country. "
This comes at a time when several Iraqi civil banks declared bankruptcy, because of the manipulation some money customers through trade real estate, raising fears of investors about their money.
The CBI had earlier announced its commitment to provide financial liquidity to domestic banks, which declared bankruptcy because of the acute shortage of foreign and national have currency, but the approach of government banks from bankruptcy is other than it complicated.
The number of the Iraqi government banks 6 banks are Mesopotamia, rational, socialist, and the bank's real estate and the agricultural Bank and the industrial Bank, while nearly 20 Iraqi banks, non-governmental prominent of these banks, the Middle East, investment and Baghdad.
Update: Fighting ISIS
THE IRAQI DEFENSE MINISTRY, ON WEDNESDAY, THE ARRIVAL OF FIGHTER THE F-16 US TO IRAQ
BAGHDAD, Iraq (CNN)
"Arrived on Tuesday afternoon a new batch of aircraft the F16 to one of the Iraqi bases air, and was received by the commander of air force Lt. Gen. Anwar Hama Amin, this is the sequel to the series installment payments will arrive in Iraq in the near future update of the contract concluded between the Republic of Iraq and the United States later this year."
One more item today:
Let’s not forget to keep praying for the success of THESE IRAQI AND COnbALITION SOLDIERS. I believe our prayers are in part some of the acceleration of the process we are now witnessing.
Remember too to pray to the princess of peace – Our Blessed Virgin Mary. She has the ear of Christ and she can intercede in heaven and bring us the peace we all desire here on earth. We can not do it alone. I believe that if we all make this our daily prayer you will see change. It is already working even in the short time since I have been publishing this prayer section. It does not matter what religion you believe, if you pray then to your oven beliefs entity it is still the same powers and good for all of mankind. Ultimately it is all the same God anyhow.
“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 in the battle for Mosul! 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!
We pray for the process of the currency reform, the full implementation of the Iraqi economy to full international status and the bringing of prosperity and wealth to its people“ Amen!
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,