(Thank you George for emailing this to Dinar Recaps.)
UU4790 – “A New RV Window” by Mnt Goat
Quick update again today……lol…..lots of news floating around and needs clarification.
Today I wanted to give everyone a brief news letter! I hope everyone also read my last news letter dated 01/07 (LINK) since this is a continuation of this ongoing saga of the revaluation of the Iraq dinar and in particular the budget bill.
I take the time to write this news letter can you kindly take the time to read all of it and not jump out and make assumptions and spread rumors about something I did not say on many of the conference calls. If this continues I will simply stop sending my news letters out to the general public and keep the news to my team only. WARNING !
Today is Jan 8th and I wanted to pop in an let you know what truly happened in parliament yesterday on Weds Jan 7th and what is expected in the days that lie ahead and talk about a new RV window.
The session of parliament conducted the second reading and the budget bill was read. The first reading revealed the need to shrink down the deficit. This second bill revealed yet more cuts are necessary.
After the session was over I snooped around to see what the results of the session really were since many “intel gurus” are claiming it was “done” and blew off even trying to find out what really happened in yesterday’s session. All they want to do is move forward to the RV and don’t care what really is happening.
What the heck does “done” mean anyhow? I don’t know about you but I am getting a little tired of the use of this term.
“Done”….really? The fact is they were not impressed with the changes made by the GOI to shrink down the deficit and are thinking about shrinking it yet even more. Yes –it is not "done" as I said it may get kicked back to the GOI once again for more changes after the second reading. So there were issues still. Will it go back to the GOI however?
So later on in the day here is what happened as the speaker of the house came out with a statement in the news media and I quote the speaker -“the Finance Committee and chairman of the parliament are working on completing the budget and NOT to bring it back to the government (GOI) to rehash because this will delay approving the budget in parliament."
What does this mean?
It means to me first of all they know about the urgency to get this budget implemented and are pulling whatever strings necessary to make it happen. Second we should not have to wait much longer since their new target is Jan 11th.
We wait and see and I would not be so presumptuous to say it is “done” but there is hope of sooner than later.
They are making progress and this is good. Remember too that it still needs a voting session and this can not happen until a minimum of 4 days past the last reading (per Iraq constitution). The last reading was yesterday do this brings us to once again the Jan 11th date. We do not yet know if they will need a third official reading in an official session but my assumption is they will NOT do one based on the statement of urgency by the speaker Jubouri yesterday.
This is what I believe will happen next-
The Finance Committee will take the budget and make the necessary deficit cuts needed, as recommended by the chairman. Then the chairman will bring it up for a vote, after a quick review in parliament for the changes. This will all take place between now and Jan 11th. On Jan 11th Sunday parliament will vote on it.
So if we do not see the budget bill passed by a voting session by Monday morning then we can expect to wait until Jan 20th as our next target date. This date has already been made clear to us it is a possible next target.
The odds are the they will try to meet the Jan 11th date since the finance committee and the CBI also desires to have the ISX start international trading with the live links to the global money exchanges and do it on Jan 11th and they need the IQD rate to be live and a tradable rate. Do you understand what this means? It means we have a new target date of Jan 11th verified again.
Again don’t get all hyped up since this is just another target date to shoot for that is all. Just like Dec 1st, then Dec 25th then Jan 7th and now Jan11th. We are also hearing many members of parliament believe this can not be done prior to Jan 20th and so they struggle to satisfy these constituents too.
I will add my own comments to this later part about Jan 20th. This kind of laid back thinking from some parliament members is just what gets them in trouble all the time. This I call the “do-nothing Maliki” mentality as we witnessed in the last 8 years in parliament. These stalling tactics will not work under the GOI prime minister Abadi and the Parliament leader Jubouri partnership to kick start this government. It kind of like many of these parliament members need to be shaken up to realize it is not going to business as usual. If it was up to these lame members we would be sitting here through 2015 without a budget, as in previous years. This of course can not and will not happen.
So hear is the news that come out of Iraq after yesterday’s session-
Alsumaria News / Baghdad
So to make a long story short – when I told you there were members of the parliament that said to the news media this could take until Jan20th to complete, I tend to believe them. No hype, no bull, just the news ! Bu this is contingent upon them having their way. Abadi and Jubouri are not going to sit down and let this stalling continue.
Another development that may make a difference in settling the Iraq budget deficit:
It was confirmed by the Parliamentary Integrity Committee, yesterday 1/7, that the recovery of looted funds from abroad in Iraq (from corruption) would be able to bridge the 2015 budget gap/deficit. In fact maybe for years to come. They do not yet have the funds but it is close. This could change the entire picture of the deficit vs the budget saga very quickly. We wait and see.
I also want to emphasize the situation in Anbar is still ongoing. Chairman of the Board of Anbar morning Krhot revealed that members of the delegation will visit the United States mid-month January to discuss the matter. As I told you in my last news letters dated 1/5 and 1/7 this Anbar DAASH fighting is still a serious matter and a concern for the USA prior to allowing the RV to go.
Now, using my common sense (which seems to be at a shortage in this RV intel arena), this is telling us what? Can you see it will not even be before mid month of January until they talk about getting help from the USA. They are coming to USA sooner than later with such a short notice because they know the USA demands now that they clean this up, and it is a major holdup to having a more secure Iraq. Mid month is only a week away.
This is a stickler too and USA will not pop the RV without it. I do not care who is telling you otherwise. No RV until this is mess in Anbar is under control. So now what is the nearest possible date? Remember I did not say this mess has to be all cleaned up, just under control. That is why they are going to the USA to negotiate on the level needed, set goals and get help to accomplish it.
I saved some really good news for last.
I have heard from my sources in the USA Treasury that China intends to purchase yet more oil from Iraq. As I stated many times that the USA now basically controls the flow of oil from Iraq. Of course Iraq will never admit such control exists but it does. Basically USA is going to sell more oil credits to China. Yes – another round of oil credits. What does this mean to us as investors?
The pool of funds available under exchange contracts will soon now grow once again and I am hearing will be overflowing. They will need holders of dinar to access the banks and use these contract rates for exchanges. The question is what will be the limits and how much dinar can you exchange under these rates.
What kind of rates are we talking about? The rates are not any lower than previous pools and very much above the market rate. We should all be all very happy ! This is all I can say about this topic at this time. Doubt me? Watch it all play out !
What do I suspect will happen very shortly? Since it is a very cold winter throughout the USA, the oil prices will soon begin to climb while they are negotiating these oil deals to China. Watch for this in the coming weeks. It is already mid January and we are in the middle of winter. The higher the demand the lower the supply drops. Then the price goes up to replenish. It is nothing more than a game about to be played out.
By the way, this has absolutely nothing to do with getting rid of the Federal Reserve, going back to a totally gold back currency or going back to the “Republic” as some will try to tell you. How ridiculous !
So hold your horses and don’t listen to these groups about to take credit for these oil deals. They have absolutely nothing to do with it. I already am hearing rumors they are attempting to take credit and it is part of dealing with the “carbal”…..gotta laugh….!
So when can we expect to see the RV?
I am still in the notion of the window of opportunity between today Thursday 1/8 and Sunday 1/11 sometime. This is contingent upon getting the budget bill deficit cut done and getting parliament to vote on the final bill prior to or on Jan 11th.
Peace and Luv To Ya All,