(Thank you George for sending this so Dinar Recaps can post it.)
Hope everyone is fine out in the dinar investors land.
Today I bring you yet more good news about the happenings in Iraq. I do not spread rumors or hype. I only try to bring the FACTS and you can see the articles and read them for yourselves. If I have an opinion I always tell you so you can judge for yourself.
So as promised, Abadi did forward his nominations for the defense and interior ministers yesterday. However, parliament could not vote to ratify them since they could not muster a quorum. Also they planned to hold a no-confidence vote on the finance minister Zebari for corruption charges but this too had to postponed until Sept 20th, as stated in the article below.
Why could parliament not muster a quorum?
This news did not surprise me since the Kurds are not going to allow a vote against Zebari as they see this as a sectarian action on the part of the GOI to eliminate yet another position from representation by the Kurds. Zebari is in a position that is supposed to be filled by a Kurd. So why doesn’t Kurdistan themselves want to clean up there own corruption? Why don’t they take some action by themselves rather than wait for parliament? Does this tell you maybe Kurdistan is not so squeaky clean and forthright as many believe? Just my thoughts…. I will address this more in follow up news.
Many want to know why they keep kicking the can down the road as far as the battle to liberate Mosul. Well these articles today explain it all very good and even tell us a timeframe…finally!...not really however. They have been telling us all along that the battle for Mosul would not begin until the fall and that the target for complete liberation is by the end of the year 2016. How much more of a timeline do you want? So this news today is of no surprise to me. I am only bringing it in writing direct for Iraq for your reading pleasure so everyone will sit down and be patient. We know that no RV will occur until ISIS is gone from Iraq. This is a FACT and they have told us so I am not making this up. Go back and read the many articles from December 2015 and early 2016.
“Due to security and stability reasons with the war with ISIS we are postponing the project to delete the zeros until early 2017”.
Many also believe (as I do too) that the Iranian Kud forces must also withdraw out of Iraq as part of the security issue. Still yet many also believe that Maliki and his goons must be dealt with prior to any RV (as I am one too that believes this is true).
If I remember on the calendar, the year ends on December not October as many of these so called intel “gurus” want you to believe. Seems they always push the dates to make it sound like an RV is imminent any day / any moment. Simple not true and the government does not plan to even launch the lower denoms until Mosul it all completed.
So the next issue I want to address is the Kurdistan independence.
Kurdistan will be an independent state.
Although we see from fighting ISIS and all the complications involved with it to get supplies and weapons the constant late payment of salaries, they want it really bad. But simply put it will happen. Sure there are going to be some changes and they already agreed on how the oil and gas will be managed. There is also a matter of taxation and surcharges coming for electricity. So if we pay attention we can see what is really going on behind the scenes that shows us Kurdistan is making statements about their independence and plan to break off from Baghdad but still remain connected in many ways. I will give you one little hint as to why I know this is factual – just look at the relations now with USA, the 5 military bases being built in the region, the payment of Pershmerga forces by USA, etc..etc.. The USA is in Iraq to stay and the Kurds welcome them, but not the Baghdad government.
I also know that once Mosul is mopped up (sometime early 2017) the Iraqi coalition forces fully intend to move into Syria from the East and sweep through it with Saudis advancing through Jordan from the South (250,000 ground forces) and Turkey from the North (another 200,000 ground troops). Boy! I would hate to be in Assad’s position! This is why it is imperative to have all Iranian Kud forces out of Iraq as soon as possble. There must be a security zone as a buffer (Iraq) to prevent Iran from interfering. First things first and the plan is coming together nicely.
Announced recently the approval of a $3 billion loan to Iraq. WOW! Yet another huge loan. However this loan does not come free. Besides a minimum interest rate, they will have to implement mandated reforms in areas of how the government is run, making the government leaner, more technocratic (already seeing many of these reforms), modernization of management of their banking systems, payment systems (how they pay salaries, welfare, retirement, etc) and a network of social security and the fight against corruption and many other things.”
I quote for the article below-
“He stressed that “the loan will be spent over three years to coincide with the reformist trends in the activities of government reform and modernization of management, payment systems and a network of social security and the fight against corruption and other things.”
I also want to clarify today that Iraq does operate on a fiscal calendar year beginning on October 1st. Many want evidence and I am telling you they open their new budget on October 1st. If you want articles or proof simply go read the priority on getting the 2017 budget passed in parliament on time (by Oct 1st). Then go read yet more articles telling us they plan to open the budget on this timeframe. I can see how there can be some confusion since they did change their fiscal year from June 1st to October 1st and they did this to coincide with the standard accounting practices of most modern, developed, industrialized nations. They did this at the request of the IMF and the World Bank.
I do not want to predict an RV timeframe but I have published a target that is shown by indicators pointing to a situation that we could possibly see the launching of the lower denominations prior to the end of 2016.
But first we must hear news of the re-education of the Iraqi citizens for this process to begin and I believe this would have to happen at least a month of more prior to such a move. This is really what we should be watching for now.
Remember they could very well launch the lower denominations without a rate increase. I have presented the articles to you in a special news brief recently of proof they intend to go 1:1 and this means for every dinar today the value will remain the same in the near future of the dinar once the new currency if out. For instance a 25,000 note worth $25 USD today will remain worth $25 in USD only they will use the brand new $20 and $5 notes to pay for the same goods instead of a $25,000 note. Get it?
This does not mean 1 for 1 with the USD. This is a huge mistake all these so called intel “gurus” keep telling you over and over again, so much that now you believe it. So now my work is hard to make you believe otherwise. This constant misunderstanding of the truth adding in all the lies being told to you make it very hard for me and other FACTUAL based info providers to help you understand this investment (speculative investment).
But the CBI also told us (and this is the very good news) that there is a second stage to the process in the deletion of the zeros, and this is to move towards a significant increase the value of the dinar. This new rate would be equal to or around the pre-war value. So I am told by my CBI contact that they first plan to suck up as much of the three zero notes as possible, thus also shrinking the money supply in Iraq. I believe this action has already occurred or very close to the extent they can now do it. They are ready to move to the next stage.
To help in the process we have seen the limiting of the currency auctions because of the limit in dinar since how can you buy USD with dinar if you have fewer dinars? This also was reduced simply by the limiting of falsified commercial contracts so now they are really down to realistic numbers. We also witnessed a new law prohibiting street venders for selling dinar and new guidelines for the banks to solely take on this responsibility. If a citizen now wants to become a currency exchanger, they will have to be licensed and work through a bank. There is just do much going on with the currency that it is too much to list today in my news letter and since this letter today is long enough already I am going to end it here.
Articles to follow:
ABADI NOMINATE OTHMAN GHANIMI THE MINISTRY OF DEFENSE AND MUWAFFAQ ABDUL HADI OF THE INTERIOR
Detecting a parliamentary source on the nomination of the Prime Minister for the team Othman Ghanimi to take the Ministry of Defense and the team Muwaffaq Abdul Hadi Interior Ministry.
He said a close associate of al – Abbadi of Baghdadi News that the source “Abadi plans to assign the defense and interior ministries of the figures of security leaders without reference to the political blocs.”
He added that ” Abadi decided to nominate army chief of staff and agency Othman Ghanimi to the post of Minister ofdefense and Deputy Minister of Interior Affairs , the police team Muwaffaq Abdul Hadi for the post of interior minister.
Postponed a Confidence Vote on Finance Minister
World Bulletin / News Desk
Iraq’s parliament on Thursday postponed a planned vote on whether or not to withdraw confidence from Finance Minister Hoshyar Zebari.
"Parliament postponed the vote to Sept. 20 after failing to reach the necessary quorum of lawmakers," Hassan al-Khalati, an MP representing the Shia Muatin ("Citizen") bloc, told Anadolu Agency.
According to al-Khalati, 141 MPs attended Thursday’s session, while 165 are required to achieve quorum.
Al-Khalati attributed the assembly’s failure to reach quorum to the fact that a number of MPs were currently performing the Hajj pilgrimage in Saudi Arabia, while others were absent for various other reasons.
He went on to suggest that at least some parliamentary blocs stayed away from the session in order to stymie the scheduled vote.
Last month, parliamentarians grilled Zebari -- who faces a number of graft charges -- regarding alleged corruption within his ministry.
In recent months, Iraq has seen numerous popular demonstrations, mainly by followers of prominent Shia cleric Muqtada al-Sadr, to demand an end to widespread government corruption.
Last year, arrest warrants were issued for 18 government ministers -- along with another 2,700 state officials -- for alleged corruption, parliament’s ethics committee announced in March.
Iraq ranked 161st out of 168 countries on Transparency International's 2015 Corruption Perceptions Index, with the first-ranked country being the least corrupt and 168th the most corrupt
Update: Battle for Mosul
Mosul Offensive to Begin Within the Next Month, U.S. General Says
Lt. Gen. Stephen Townsend says fight to retake the jihadist-held city will be long and difficult
U.S. military and Iraqi army reinforcements deploy after the defeat of the Islamic State militants in the northern Iraqi city of Qayyara on Aug. 29, 2016.
By BEN KESLING
Updated Sept. 8, 2016 10:44 a.m. ET
BAGHDAD—The new commander of the U.S.-led coalition fighting Islamic State said he thinks the battle to retake Mosul, the jihadist group’s last major Iraqi stronghold, will begin within the next month.
The commander, Lt. Gen. Stephen Townsend, said late Wednesday, however, that the push to reclaim Raqqa, the Sunni extremist group’s self-declared capital in neighboring Syria, was on hold.
The Raqqa operation, he said, has been hampered by Turkish tensions with the U.S.-backed rebel force led by Syrian Kurds that is expected to participate in the assault, which follows the incursion by Turkey’s military into Syria last month.
“We’re preparing for a hard fight, a long, difficult fight” in Mosul, said Gen. Townsend, speaking with The Wall Street Journal in his office at the coalition’s base in the Iraqi capital Baghdad. “Really, it’s a siege I’m talking about here.”
Some 3,000-4,500 fighters from Islamic State, also known as Daesh, remain in Mosul, Gen. Townsend said. A third of them are “the hardest-core fighter who will essentially die in place,” while many of them might be conscripts or opportunists who have a “Daesh flag in one pocket and an Iraqi flag in the other pocket,” he said, and will wave whichever keeps them alive.
The general predicted the move on Mosul would begin before early October. Recently, he said, Iraqi ground forces have slowed their advance toward the city to make preparations for the major assault.
That has given coalition aircraft an opportunity in recent weeks to increase their attacks on Islamic State command centers and other crucial targets in Mosul, he said. “We’ve been able to work more on Mosul and in a more focused way,” he noted.
The Iraqi army is trained and ready to push on Mosul immediately, Gen. Townsend said, but more training was needed among support forces, including police and allied militias, to ensure they’re capable of holding and controlling the land it seizes.
In the fight against Islamic State forces in neighboring Syria, the general said Turkish forces have acted “in coordination with us, largely.”
The U.S. helped broker a detente between Turkey and the Syrian Democratic Forces, a Kurdish-led and U.S.-backed rebel group that are assisted by coalition special forces. The SDF has been an effective U.S. ally in fighting against Islamic State in northern Syria.
Since the agreement, everything the Turkish forces have been doing against Islamic State “has been good,” Gen. Townsend said, including clearing the last remaining stretch of the Syrian-Turkish border of militants.
Turkish allies have long-pressed for a no-fly zone over Syria, but there was no intention of establishing such a zone, according to the general. He again warned the Syrian government of President Bashar al-Assad that the U.S. would do what was needed to defend its forces.
Gen. Townsend, who previously served combat tours in Iraq, including time as a brigade commander in Mosul, said he was familiar with the ethnic tensions in Mosul and elsewhere in Iraq.
Iraq’s Shiite militias will play some role in the battle for Mosul, he said, but that role is still under negotiation and likely won’t involve moving into the city to avoid sectarian tensions and fighting after the city is captured.
“There’s a desire on all parties to have the force that enters Mosul city to be the duly constituted security forces of Iraq—that’s the army and the police,” he said. So far, the Shiite militias and leaders of Kurdish militias known as Peshmerga agree, he added.
The risk of sectarian violence, however, remains high.
Islamic State is a Sunni Muslim extremist group, and Mosul is a Sunni-dominated city. Most of Iraq’s minority Sunni community say they have been politically marginalized by the Shiite-dominated government in Baghdad and are wary of the country’s powerful Shiite militias.
At the same time, Iraqi Kurds, many of whom want an independent state, have been exploiting the war with Islamic State to add to territory under their control. For them, the area around Mosul is a major prize.
With the number of U.S. troops in Iraq to train and assist government forces standing at about 5,000, Gen. Townsend emphasized that they are living in austere conditions, though some don’t even leave their bases.
Still, he said they face combat in a region where he has had long experience.
“I know my boots have been on the ground in Syria and Iraq,” he said.
Mosul battle to begin in Oct - anti-IS coalition commander
WASHINGTON, Sept 8 (KUNA) -- The battle to retake Mosul, the so-called Islamic State's last Iraqi stronghold, will begin within October, said the new US-led coalition commander.
In a Wall Street Journal interview, Lt. Gen. Stephen Townsend, however, said that the push to reclaim Raqqa, the group's self-declared capital in Syria, was "on hold." Townsend, in response to two questions at his office in Baghdad, said "yeah, yeah, I think you'll see that" the Mosul offensive would begin "in the next month," without providing a precise date.
In Raqqa, the operation has been "hampered by Turkish tensions with the US-backed rebel force led by Syrian Kurds that is expected to participate in the assault," the newspaper reported.
Iraqi forces backed by coalition support will be faced with a "hard fight, a long, difficult fight" in Mosul, he said.
Some 3,000-4,500 IS fighters remain the city, he said, a third of whom are "the hardest-core fighter who will essentially die in place." But he also expected that many of them may be opportunists who have a "Daesh flag in one pocket and an Iraqi flag in the other," he said, using the Arabic acronym of the group's name.
Meanwhile, Operation Inherent Resolve spokesman US Air Force Col. John Dorrian said at a Pentagon press conference that he did not want to put a clear timeframe on the operation, adding that the decision would left to the Iraqi government.
Update: Kurdistan Independence?
Hollande Barzani: Kurdistan identified the date of declaration of independence
Kurdistan Region President spoke, Massoud Barzani, in an interview with Roudao Media Network, about the content of his meeting with the French president, François Hollande, in the French capital Paris, stressing that “ the French president, expressed his support for the independence of Kurdistan, and asked us to define the date.”
And conducted correspondent Roudao Media Network in Paris, Ala Shali, interview with Barzani, the Kurdistan Region President stressed, “We talked with France for all the crises facing the Kurdistan Region now, as well as for providing military support to the Peshmerga forces as well as the independence of Kurdistan.”
He said Massoud Barzani, to Roudao “If I was not confident that now is the time for Kurdistan’s independence, I would not have taken this step, I talked about the referendum and the independence of Kurdistan in all the meetings that I have made outside the country, especially during these days in Paris.”
He called Barzani from France to provide support for Kurdistan, “I do not stand any European country against Kurdistan’s independence, but some say that the present time was not right for it, and says other nations, we must deal with caution and sensitivity to the situation, but we will take this step, and the referendum, however, the Kurdish people “.
On the position of the French president of the Kurdistan independence, Hollande told Barzani that “we support you, should you choose you to use your time.”
In another aspect, the French president discussed with the President of the Kurdistan region of Mosul restoration process, as well as the Syrian crisis and the situation in Kurdistan Syria.
She Roudao correspondent, he said Barzani described his visit to Paris a success and confirmed that France has always been a good friend for the Kurds.
He met the President of the Kurdistan region, Massoud Barzani, on Thursday, September 8, 2016 with French President François Hollande, at the Elysee Palace in Paris, and it took one hour meeting.
FINANCE MINISTER WILL HOLD TALKS WITH REPRESENTATIVES OF THE INTERNATIONAL MONETARY FUND IN AMMAN
The Ministry of Finance has announced the arrival of Finance Minister Hoshyar Zebari to the Jordanian capital of Amman on Thursday night, to complete the international consultations between the government and representatives of the International Monetary Fund (IMF).
According to a statement of the Ministry, on Friday, Iraqi transmitter network received (IBN) a copy of it, he has been holding technical talks between a government delegation from the Ministry of Finance and Planning and the oil and the Central Bank with the International Monetary Fund experts to review Iraq's obligations under Stand-By program SBA with the Fund during the last period.
He stressed that the sum of the amounts provided by the program for Iraq from the Fund and the World Bank and the donor countries and international financial institutions, which are about $ 18 billion to support the economy and financial Iraq within three years.
The statement said that the fund shall conform to this program credit facility of 4.5 billion dollars to Iraq to fill the financial gap and the budget deficit as a result of the financial and economic crisis in the country over three years, as a result of the commitment of Iraq's Fund program to improve public financial policy and rationalization of expenditures and increase non-oil revenues and transparency performance and the fight against corruption, money laundering, illegal financial management of the Central Bank and the legislation.
He said the International Monetary Fund introduced in July last fiscal paid an initial Iraq stood around $ 640 million to support the budget, is scheduled to receive Iraq and other paid a similar amount of 640 million dollars in the month of November 2016 the implementation of fiscal and economic reform plans established in the financial and economic policy memorandum.
Iraq to receive $ 3 billion from the World Bank at year end
Fri, 09 Sep 2016 10:45:15
Financial advisor to the Prime Minister Haider al-Abadi said today that the World Bank has done a decision on lending to Iraq by about three billion dollars in the end of this year.
He said the appearance of Mohammed Saleh in a statement Friday, which involved meetings of Iraq with the IMF mission in the Jordanian capital Amman, said that “the World Bank mission made the vision of funding for economic development in Iraq for the soft loan of about three billion dollars paid in stages, very low interest rate and duration repayment of long-term. “
He said the appearance, that this comes in “the framework of a program for financing development in Iraq.”
He added, that “the World Bank between the activities targeted by the loan, is the support of the federal budget in line with the economic reform paths and a document of reform launched by the Prime Minister.”
He stressed that “the loan will be spent over three years to coincide with the reformist trends in the activities of government reform and modernization of management, payment systems and a network of social security and the fight against corruption and other things.”
Adviser to Prime Minister predicted that “the implementation of the loan to Iraq by the World Bank end of the year 2016”.
The Committee on the economy and parliamentary investment promised, on May 16 last in 2016, the demands of the International Monetary Fund of Iraq to agree to lend him “do not constitute conditions” but a vision to address the economic crisis being includes a reduction in spending and focus on productive sectors to enhance budgetary resources.
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,