(Thank you George for emailing this to Dinar Recaps.)
UU5522 – "Why the Delay in Passing the New Laws – More Info" by Mnt Goat
Today’s news is a continuing saga about the Iraq dinar revaluation. If you have not done so already please read my news letter from 6/11 (LINK) since this is yet more news on this topic.
In my last news letter I have included some tips too on how to protect your identity and personal information. I encourage everyone to go back (LINK) and read and re-read what I have presented because I think we are all guilty of violating one or many of these identity thief safeguards. Remember too it may be the law that any organization must respect the use of the information that you entrust in their care and they will secure it and use it only for its intended purpose(s). So getting your personal information for the sake of sending you a FREE gift and then later using the same information by selling it as a mailing distribution list to advertisers or financial salesman I believe would be a direct violation of the law…yes?…no?
Later on in this news letter I have given you yet more tips on how to read and understand articles about the RV saga. I sincerely hope this helps you in many ways.
I can assure you, until there is the needed physical security and political stability in Iraq there will be no currency revaluation. So let’s talk more about this in today’s news letter. I hope I can clarify some more questions on this topic.
We are at the end of yet another week and the news is all good and what is expected. As I have said in the past if you follow this saga long enough you can almost predict the next move by Iraq.
Today is Friday June 12th and still no RV. Yes it is JUNE already and the month is almost half over. But many have said there was not way this RV process would move into June. Really? I often wonder what planet they live on……lol….
These are the same sources that hype and pump you fine dinarians up once again for an RV each weekend. I can already hear the words of optimism in the air. I can assure you there will not be an RV this weekend but I can say we are moving into a period soon when there will be an excellent window of opportunity for one. But there are key announcements we wait for from the government and the CBI.
Current CBI News
One token of news this week is we heard once again the pressure to formally reinstate Dr Shabibi as governor of the CBI. In the article it talked about having a qualified. experienced individual as head of the CBI and to allow this office to work independently of the government of Iraq. So from this we know Dr. Shabibi has NOT yet been formally reinstated to the CBI. But we feel this is coming very soon.
The Stalled Iraqi Legislature
So this week out pops an article that is so juicy with information I can hardly stand it. I feel like I am at the dinner table so hungry and they finally they bring out the cooked turkey and gravy. Yes – we are feasting on this one!
But first let me explain some things to you so you can appreciate this new article.
So in my last news letter I stated that the major holdup in passing these much needed laws, as part of the Reconciliation effort and the national security effort, was because Kurdistan decided to boycott parliament sessions since they still are not being paid entirely for the oil they were pumping and exporting. As you may know the constitution of Iraq states that the Kurdistan will get a 17% share of its oil revenues. Recent agreements state pumping quotas that must be met to match the budget expenditures in the 2015 budget.
The Kurds continue to pump their oil and meet and exceed these quotas but the government has not been paying them the full agreed upon 17% $$$. This is still a puzzle to me as to why they continue to do this but I am sure it will come out in the news someday soon. Anyone know? My guess is the Kurds are pumping more than the specified quotas needed to meet the 2015 budget and the government has stated it will only pay revenue sharing to Kurdistan upto the agreed quota amounts. Since the Kurds we know are in fact exceeding these quotas I would guess this is the issue. So who is right in this situation? What is the resolution?
I believe the solution may lay in Kurdistan SELLING OIL DIRECTLY to buyers over and beyond the specified quotas. This new HCL law is more than likely contains laws in how to deal with these buyers and how to handle these sales directly without going through the Baghdad government. Read the article carefully below.
So to make up for the difference in back $$$ owed to Kurdistan, and to clarify other issues regarding managing their oil (now exporting some directly to buyers) they are drafting a new HCL. They are now asking for 26% of the revenue along with more defined laws in areas regarding oil such as investment in refineries, financial resources, and the import and sale of petroleum products.
Yes- you heard it correctly. They announced that a NEW OIL AND GAS LAW is going to be presented soon. This is what is holding up parliament. This is what is also holding up the National Reconciliation Reforms effort.
Many intel gurus will still be insistent on telling you that the oil and gas law is all done and they would be right except for one thing – their news is outdated! It was done but now it is changing. These same “intel gurus” do not want to follow the “real” news since they are either too lazy or too stubborn to read the articles in a timely manner coming direct from Iraq. So how could they ever find out about this change?
They are more concerned about bashing those that spend countless hours reading articles than reading them for themselves. Instead they desire to keep pumping you up each week with this nonsense misinformation being handed out to tell you on each of their calls.
Once these same “intel gurus” finally come around to reality they are usually weeks behind in bringing you the news. Eventually they get it. Since news from Iraq is usually delayed anyhow (at least by a few days to weeks anyhow) their news becomes so undependable and so outdated. This is why I am so persistent on trying to help them to see the light and to read the articles in a timely manner. Just trying to help! Back to today’s news….
Folks- this news of the new HCL is in black and white in the article below. Iraqi words not mine! Such a great token of news.
I believe that once this new draft of the HCL bill is completed, it will have its first and second readings then become part of a “package” of laws presented to the legislature for a vote. House speaker al-Jabouri will do this in order to force the Kurds back to parliament and vote on all the laws, if they want their HCL, if they want to sell direct to exporters.
But they need time for preparation of this “package” of new oil and gas laws dealing with the private sector.
Note in paragraph three below they are telling us also the other laws to be included in this “package” and why they are packaging them this way. Gotta Luv It!
WHAT OTHER LAWS ARE INCLUDED? (quoting from the article)
“and complete the requirements for a law of amnesty, and to bring accountability and justice law to justice, as well as law oil and gas and the law of parties”
WHY PACKAGE THEM THIS WAY? (quoting from the article)
“consolidating the foundations of national unity inspire the spirit of civil peace to move forward a draft national reconciliation, and complete the requirements”
So please, please I don’t want anyone telling me again these laws are not important and not needed for the national reconciliation efforts. We already confirmed as factual we also know NO reconciliation completion thus NO RV (currency reform completion).
It’s all written in black and white below in this article this week. THEIR WORDS NOT MINE. This article has once again confirmed what we already knew, but some of you have to read it for a thousand times before you will believe it and understand it……lol…..
THIS IS THE HOLD UP AND WHY EVERYTHING SEEMS STALLED ONCE AGAIN!
GHADBAN: GOVERNMENT IS PREPARING A PACKAGE ECONOMIC
Chairman of the advisers in the prime minister Thamer Ghadhban said the government is prepared to pack a private domain-oil economic laws.
He said Ghadhban's (IMN) "The Commission, under my leadership were also preparing drafts of oil and gas laws, and the Ministry of Oil, and the oil company and the national, and investment in refineries, and financial resources, and the import and sale of petroleum products."
Ghadban said that "This package of important laws need time to complete the preparation."
And provided a close political agreement between participating in the government blocks on the government's commitment to political blocs - and within the established limits - consolidating the foundations of national unity inspire the spirit of civil peace to move forward a draft national reconciliation, and complete the requirements for a law of amnesty, and to bring accountability and justice law to justice, as well as law oil and gas and the law of parties.
Since the adoption of the Iraqi constitution, such as oil and gas law, the most prominent outstanding issues between Baghdad and Erbil, the former parliament has not been able to find current and agree on a common formula for the oil and gas law.
From: Haider al-Tamimi, editor: Mushtaq Feeli
Link to PART 2