(Thank you George for emailing this to Dinar Recaps.)
UU6716 – “Quick Update – End of Week“ by Mnt Goat
Grüße aus Bayern,
The news today is a continuing saga about the Iraq dinar revaluation. If you have not done so already please read my news letter from 7/14 (LINK) since this is yet more on this topic.
So if I could summarize any events that I would now we watching for, these are the events I describe today in this news letter. I am giving you an update since my last news letter on these events.
Let us all stay level headed, grounded and focused on what we know to be the truth and not some rumors, conjecture or info from some “secret” government sources. I said many times that each week windows of opportunity are decided upon for a POSSIBLE revaluation timeframe(s). This is contingent upon meeting all required stability and security issues in Iraq. I believe we may be experiencing a point in time where they almost have to revalue their currency and trade it globally, terrorist or no terrorists! Let me explain further in today's news.
Today is Sunday July 19th and still no RV.
The main headlines that I can bring you for this week includes many items but I want to reference only a couple today.
One is the usual late payments of government programs to the citizens. As usual the payments are late and as usual, like every month so far, many believe these pending payments are the RV and hype you all up in anticipation for them. Then once again, when nothing happens, as will be the case again this month. you have your let down.
The news media in Iraq has stated recently that these payments are coming as we go through the same saga every month. They were promised the payments by Thursday but this did not happen. Now they are telling us they will happen this weekend sometime. These payments will happen. We know they always do and are late. As we also know this means loading the SMART cards, a vehicle for these payments. This is a process they have done many times for over a year now and still we do not see an RV. There is no connection for an RV to these payments of benefits.
The second headlines for Iraq includes the battle to retake the city of Mosul and surrounding area. For over a month now we have read articles of the preparations and readiness to begin this battle. On Monday of this week they announced they were beginning the movement on ISIS on this area. Today is Saturday with a week of fighting already and I am hearing nothing but good news. The battle is progressing in favor of Iraq. However we wait to hear official word of the results. This battle was supposed to be quick and decisive. I think this will all come out heavy in the news next week. It is so predictable.
Why is the battle for Mosul so important?
It is important because we have been told many times that this would be the decisive battle for the ridding of ISIS and DAASH from Iraq. Remember this is required for that level of security needed for an RV.
Remember too this was the main infiltration point for ISIS and where many Sunni citizens decided to join ISIS to fight against their own Iraqi government due to years of discouragement caused by a do nothing Maliki government. When you have nowhere else to turn sometimes you feel it is better to side with the devil than to do nothing. Not a good strategy but this is how some think. If they could only get this Amnesty law passed it would help in the situation and assist these Sunni citizens to come back home and be forgiven for their defection. You can now see yet another reason why the Amnesty law is way too important not to think it is not needed prior to any RV. This law is being resisted by the Sheites lead by Maliki still in his influence and so he too must go to stop this nonsense.
So the third major headlines for this week includes getting rid of Maliki. As I told you July 8th was give as a deadline for him to decide to either resign or take the hard road to his demise. Either way he is going to leave politics in Iraq and will be banned from participation again in the future. So around the 8th he made an announcement that he would resign at the end of the Eid celebrations. Today is the last day of Eid and the celebrations began late last night. What will he now do? We wait for the news this coming week. I will let you know just as soon as I can confirm the news.
I still firmly believe he will take the hard road and will not voluntarily resign, as he lied to Iraq many times in the past and his word means nothing. This future action of the hard road may mean a no-confidence vote initiated by president Mosum. This may very well happen next week. Once out of politics he will be subject to the ICC criminal court for prosecution.
DAASH is still causing some havoc and they have to work around them constantly. The following is an article from the Iraqi transport minister. So you still think ISIS and DAASH don’t matter? Do think Iraq is now secure enough to get the RV? Enough said. But I also want to remind everyone that Iraq still has plans to fully implement their tariff law come August 1st.
We can see the billions of annual lost revenue from not having these tariffs in place as they planned to do years ago. They keep postponing this implementation. Why? It’s because they need a realistic rate and just a rate of the Iraqi dinar on the global currency exchanges in order for these tariffs to work. We can also see this past week they need more security in this area to protect the trade routes and harbors.
Iraq has a liquidity problem? Iraq is in a financial crisis? Iraq has devaluing with regards to the dollar? Could this all be caused by not having a realistic currency rate and being traded globally? So what is the holdup?
So when will this all end and they finally get Article 8 of the sanctions lifted thus having back their currency?
Can you see it is more than time to do this.
ZUBAIDI, DIRECTS PORTS COMPANY TO MAKE MAXIMUM EFFORTS TO RECEIVE THE SHIPS AFTER THE CLOSURE OF THE WESTERN PORTS
Alsumaria News / Baghdad
Face Transport Minister Baqir al-Zubaidi , Sunday, the General Company for Ports to exert maximum efforts to receive ships laden with goods after the closure of the western ports.
According to a statement issued by the ministry and received Alsumaria News , a copy of which, "The face of the Minister of Transport General Company for Ports to exert maximum efforts to receive ships laden with goods," noting that it came "after the closure of Western outlets."
The Minister of Transport on the need to "speed up the unloading of goods of all kinds."
The Directorate of border crossings in the Interior Ministry , decided to close the Trebil border port that links Iraq with Jordan , noted that the entry of goods will be through Safwan crossing in Basra , while attributed the decision to the organizationDaash collect levies from all trucks that enter through the border port to finance its elements .
The fourth item today is about the HCL and the timing for the first payments of oil revenues to the citizens. It is July 18 already and we know they promised the very first payment in June/July timeframe and regular ongoing payments there afterwards. So what is holding this up?
Well we do know the MASTERCARD (debit cards) are set up and waiting to be loaded. They can not initiate these cards however until HCL is finalized. Remember these are the “National” cards and not the SMART cards as now being used for social benefits. These new cards are the vehicle to be used to distribute the oil revenues and not to be confused with the social programs (pension fund, retirement, employee pay, food program, etc).
I know for a fact that Kurdistan has a new version of the oil and gas law. These changes mainly include how they are going to handle the sale of Kurdistan oil above and beyond the budgeted quota of over 500,000 barrels per day, set by the GOI to meet government spending. The changes also include article 140 changes as to how they will handle that oil in the disputed areas.
You see their capability is way beyond this amount and they fully intend to pump this oil contrary to what the GOI wants them to do. Since the full 17% payment of oil revenues share has yet to every get fully paid to the Kurds, it is felt they have a full right to pump and sell oil on their own to make up this difference. They also do not trust Baghdad in this area and why should they? This in a nut shell is the controversy and holdup of any completion of HCL. So this new version of HCL is not liked by the GOI since it gives Kurdistan too much autonomy in this area of oil production.
This article also tells us that Iraq needs to get money out in the hands of the citizens for development. construction and growth. Seems they plan to lauch loans out to the public soon. But wait one second. How can they do this since how will they repay these loans? Will it be at the old rate or the new revalued rate? The GOI has talked about this in the past and they already passed a conversiton law in preparation for this transition time. They of course do not want to issue any more loans to the citizens until then they need to, which is at post RV. They are also afraid of the loaned money going to support terrorism but I believe they will have this element with them for some time to come RV or not. This can not hold up these loans any longer. They have told us this many times.
CRISIS CELL DECIDE TO START ISSUING MONEY ORDERS AND TREASURY BONDS TO THE PUBLIC LAUNCH
Wednesday, July 15, 2015
Crisis cell decided at its meeting today under the chairmanship of Prime Minister Haider al-Abadi begin issuing treasury remittances during the remaining months of this year and launch a national bonds to the public and government guarantees and benefits occasion.
Abadi said the media office said in a statement, Prime Minister Haider al-Abadi head today a meeting of the crisis cell has been studied in which the economic and financial situation in light of the challenges faced by the country.
During the meeting, emphasizing the move is included under the guidance of Prime Minister reduction of the three presidencies and special grades salaries was agreed to submit a comprehensive proposal to introduce after the Eid al-Fitr holiday.
They also reviewed the development of the Kurdistan region oil delivery quantities of oil and dues agreement, and the emphasis on the need to adhere to its terms, according to the contents of the federal budget for 2015 and will be the law of the oil minister follow up this file in the coming days.
In order to strengthen the financial position and activating the economy and development movement in the country, it decided to start issuing treasury remittances crisis cell during the remaining months of this year and launch a national bonds to the public and government guarantees and benefits occasion.
Cell has also decided to adopt the recommendations of the Economic Committee on the Ministry of Planning proposals with regard to addressing the problems of the investment plan, including in particular entitlements projects and letters of guarantee.
Regarding the draft postpaid it was agreed that the Ministry of Planning and identifying strategic projects and important in light of the National Development Plan and provincial development plans
This next couple weeks should be very exciting!
I believe we might be heading for a window of opportunity for an RV in these coming weeks.
Peace and Luv To Ya All,