On with today’s wonderful news and reality.
Update: On Abadi’s Reforms
I included this article below today because it has a couple golden nuggets. It is telling us more about these investment laws. We all know that the “investment law” is passed and ratified already by president Masum.
This article today is telling us now there are other laws to coincide with the Investment law. The are calling this a “package” of laws. But they also tell us these laws have already been implemented but unsuccessfully. They now want to find a way to make them successful and still see the need to do so. They still see the opportunity to take advantage of all the effort in setting up these programs.
I quote from the article below – “on their way toward passing a package of important laws on the protection of the national industry and consumer protection and activating the customs tariff and projects related to sovereign funds,"
Does it say activating the tariffs? Does it say activating the sovereign funds? Again?
We know that they have tried these projects already in the past and we know that both implementations failed because Iraq does not yet have an international currency. I wrote about this and why it is important to go international first with their currency to fully realize any success in these projects. If you haven’t read them please go back and read my past news letters. This is all just a continuing saga and you must keep up with my weekly news letter to continue on this journey to the RV.
Now they are going to try to activate these projects again…and soon? Can they work this time? Will they RV first? Their words not mine. NO Hype, No Rumors, just the FACTS. Read it for yourselves.
PARLIAMENTARY ECONOMY'S / SCALES NEWS / "PACK" THE PROTECTION OF NATIONAL INDUSTRY LAWS BE PASSED SOON
Special - scales News
Stressed the economic and investment commission in Parliament member Abdul-Karim al-Naqib, on Wednesday, he Snmrr a number of important economic laws in the coming period, among the purpose of the laws is to protect the national industry in the country.
Captain's / scales News /, we are "on their way toward passing a package of important laws on the protection of the national industry and consumer protection and activating the customs tariff and projects related to sovereign funds," noting that "these laws are in the process of research, preparation and will be future projects to support the economy and investment in Iraq."
He noted a member of the economic and investment commission in Parliament, to the "pass the investment law after ratification by the Presidency of the Republic will contribute to the development of the private sector in all fields, whether in industry, agriculture, housing and the area of other services," stressing at the same time that the law "will provide extensive facilities in mechanism financing and lending to the private sector."
The "economic expert on behalf of Jamil Antoine confirmed L / scales News /, earlier, that the advancement of the economic reality of the country need laws that began previously not been implemented so far, implementation, indicating that the customs tariff and the protection of the national product, consumer protection and the prevention of dumping were not implemented laws Although desperately needed to solve a lot of economic problems that plagued Iraq ".
Next I want to bring you an article that is also very important to discuss now. There were in fact many articles on this topic this week. Many of them were from Iraqi economists and financial experts giving their opinions and excitement.
But this one below is from the Abadi advisor who has listened to all the debates from the advisors and experts and came up with a conclusion to advise the prime minister Abadi with a course of action. This why it is so important.
The title of the article is deceiving since the topic is more about how to control the currency value than implementing the new salary pay scale. So what then is the primary concern? It is now all about finding ways to fund $$$ the gaps in the 2016 budget deficit. This is it plain and simple.
However they are saying that Iraq does not have to implement the new pay scales which lowers everyone’s salaries and perks and they can still fill much of the deficit gap. How? Instead they can FLOAT their currency.
I quote from the article – “noting that" the decline of the Iraqi dinar exchange rate will allow the government an important part of the dollar in the treasury, especially since the proposed scheme provides for the possibility of a strong dollar because of the float to more than 1,500 dinars, instead of (1180) dinars to the dollar” .
Again I quote – “" this measure is expected to provide the Treasury about 3 trillion dinars per year (about 3-6 billion dollars), which makes up what has been reliable of financial abundance”.
BUT HERE IS THE IMPORTANT PART of this article FOR ALL YOU DINARIANS – again most are not reading all these recent articles correctly. You have once again put on your RV goggles. You are looking for any minor thread of evidence to spark an idea that they are planning to RV.
In this regard re-read the article below carefully. Does it once say going “international”?
They now have a fixed currency already. They already tried floating their currency and put it back on a fix. They have done this many times already…remember?
The problem is they are still technically in sanctions from Article 8 of the UN war sanctions against Iraq. Here is the key in all this rumbling and chatter about these recent articles - Until they get their currency returned to them to the international/global arena they will remain in article 8, float or fixed it does not matter.
They need a “real” currency and not this play money. This article is just talking about this play money once again.
What we are looking for is for them to tell us they are launching the lower denominations notes, or launching of the 50k / 100k notes or the continuing with the “project to delete the zeros” or the re-pricing the dinar against all international currencies and not just the US dollar. Do you get it?
This article is just talking about playing around with the same old war currency (the 3 zero notes) and not the new international currency. So please forget all this hype, calm down and stay relaxed. But the article does have much significance nonetheless.
Are they planning to go international? Yes – but this article is not about this plan. There is not even a tiny bit of evidence in this article to suggest to anyone that they are about to go international.
I will say I like this article however, because once again they are telling us the problem with the deficit and all these other programs they recently launched to raise funds to try to resolve it. But the bottom line is they still have to do something with the currency first and they must realize eventually it is going international. That is the solution and not these temporary stop gap measures to continue in article 8 of the sanctions with this play money. But how do they get out of these currency sanctions?
I have said this over 4 years ago and I quote myself again- “the longer the baby sucks on the mother’s tit, the harder it is to get the baby on real foods”.
Go back are re-read my news letters from the 2012 timeframe. (Sorry, Dinar Recaps does not have her posts categorized that far back.)
This is why the USA and UN have met with Iraq and developed a comprehensive plan last June to get the reforms needed including critical areas first (the low hanging fruits). This is weaning the baby off the tit.
We all know about these low hanging fruits and I will not review them again now. They are the easier areas to fix such as salary adjustments, reorganizing the ministries, streamline govt, and provide safeguards for investors. All these reforms are not yet completed. Notice they saved the Accountability and Justice and Amnesty, and the Federation Council laws, bringing to trail Maliki and his goons for last. Why?
Because these are not so low hanging fruits. These are much more sensitive and must be delicately handled. They also had dependencies in some of the other reforms they have already completed. Once these are done the baby can begin eating real solid food thus the RV. Get it?
So now we wait and watch for them to complete these needed areas of reforms and look forward to the Reconciliation Conference (Unity Conference) in mid December. Remember Iraq also has to fully implement their constitution too. This means the full implementation of the Federation Council. This provincial representation the council brings (like senate) is also a large part of the reconciliation mandate and the need this.
So if we see all these events play out then we legitimately have a solid reason to get excited and begin talking exchange procedures. Up to now this is all premature and nonsense.
The plan for Iraq now is to be all completed by Dec 1st. I guarantee you (mark this down that Mnt Goat is telling you now) that if Dec 1st comes around and they are done with these items they then will then begin to announce the launching of these other projects on or around this timeframe. So what are these projects?
So one again I am saying LOOK for these projects to include:
-launching of the lower denominations and coins
-launching of the 50k an 100k notes
-restarting of the “project to delete the zeros”
-words like “significantly re-pricing” their currency in articles
-words like going “international”
ABADI ADVISER TO RETREAT FROM THE NEW SALARY SCALE
BAGHDAD / News Network Iraq Advisory Group recommended to the prime minister of reneging on new salary scale in order to avoid further congestion in Alstreet.khv that a senior government source said: "The recommendations stated on several alternatives to make up for the deficit in the financial budget instead of the new peace, most notably float currency for the high price of the dollar against the Iraqi dinar, "noting that" the decline of the Iraqi dinar exchange rate will allow the government an important part of the dollar in the treasury, especially since the proposed scheme provides for the possibility of a strong dollar because of the float to more than 1,500 dinars, instead of (1180) dinars to the dollar.
"He added that" this measure is expected to provide the Treasury about 3 trillion dinars per year, which makes up what has been reliable of financial abundance because of reduced allocations several ministries, which sparked protests and popular discontent overwhelming ".sv also the source for the "Undo advisers Abadi for him the new salary, after he had recommended issuing lingered apply, or undo it once and for all, as opposed to float the currency," .otaoam currency is a system of "free exchange rate", ie the central bank to determine the dollar exchange rate in accordance with the directions demand and supply, ie, if demand for the dollar in the foreign exchange market has increased (dollar market), the dollar exchange rate tends to rise, and if the demand for the dollar has fallen, the dismissal rate tends toward Alankhvad.oumany so that the dollar exchange rate will be subject to waves of demand and supply them, so it was on this system to float the currency "Floating", leaving any floating currency value rise and fall with demand and supply waves.
Next I am presenting the article below to you today to reinforce to you that Iraq still has a problem with money laundering (referenced as “very week currency conversions procedures” in the article) and funding terrorists.
We have seen ISIS / DAASH move into a region. Then raid the banks, steal jewelry, oil, weapons, ammo, and anything of value to fund their efforts. We have seen Iraq govt cut off salary and pensions from these regions due to ISIS (cause they would only steal it from them anyhow to fund terrorism). So in many articles over the last 6 months we kept reading about this. This is still a major problem and has not gone away.
So now with the currency exchanges itself we see funding indirectly through Iranian banks. I have told you this many times that the IMF and the USA will not let Iraq out of currency sanctions until they can manage the currency they now have, the provisional currency.
They need to fill the gaps in the prevention of money laundering. This is an IMF mandate. They recently passed the anti-money laundering and terrorists act. Why? under pressure from the IMF and they did it in record time. Why? Cause they knew this was so immediately imperative and they knew they were losing billions that could be going toward the gaps in their budget. Finally Iraq has seen the light as to where in hell all their wealth is going.
So the funneling of dollars especially from the money auctions conversions (dinar to dollars) to the Iran and proof that they are using the money to fund terrorists. Folks it is all about terrorism. Eventually Iraq is going to have all the necessary reforms completed and then what? Will they be controlling the terrorism? This means preventing Iraqi funds from getting into their hands. This alone will prevent the planned RV window for late Dec/early Jan. Can they clean this up in time?
Imagine if Iraq was to go international with a rate of $3.41 and they did not prevent all this money laundering and funding for terrorism. It would literally create havoc in Iraq and the entire Middle East. Can you see it?
So Iraq must first prove to the IMF and the USA that they can prevent this funding of terrorism prior to any RV. This is all part of the “currency reforms”. It is extremely important prior to any RV. Can you see once again how they can not possibly RV this coming weekend as some so called intel “gurus” are telling you….just rediculous….lol…lol….
Sorry the article below did not come out very good from the translator. I have attempted to explain it to you above. But it is proof of what I am saying and hearing from the IMF itself.
PARLIAMENT FINANCE ACCUSES THE GOVERNMENT OF "WEAK CONTROL" ON REMITTANCES AND "NOT SURPRISED" AMERICA CONTROL OF CURRENCY.
ong-Presse / Baghdad
I went back a member of the financial committee in Parliament, on Thursday, that government control over currency conversions procedures "still very weak", while invited to monitor more effectively to the work of banking companies in order to preserve the national economy and prevent the financing of "terrorists", was not surprised by the United States that monitors transfers.
Said Najiba Najib, in an interview to the (long-Presse), said that "the Iraqi Central Bank to prevent dealing with some banking companies for violating his instructions", usually that "the Iraqi government's control over the movement of funds is very weak for not adopting corporate governance."
Najib said, that "state control over currency conversions procedures, whether internal or external, are still weak," noting that "Iraq if it has a strong and well-developed banking system, easily able to control such transfers."
She explained a member of the Parliamentary Finance Committee, that there are "internationalist decision to prevent the financing of terrorist groups in Iraq," indicating that "the presence of security and political agreements and economic between the United States and Iraq, enabled her to get a proof evidence on the existence of suspicion of funneling money to terrorist groups, especially that of globalization and development Technical allows for the possibility that Washington ".
According to Najib, that "the government suspended the salaries of staff in areas under the control of Daash, to the presence of international and American information confirming that some of them go to finance Daash," pointing out that "Transparency International confirmed the existence of money laundering crimes in Iraq, estimated at nearly took the signed international list black, not for money laundering legislation law. "
She called a member of the parliamentary finance committee, the government and the concerned authorities, to "monitor banking transactions in order to preserve the national economy and prevent the financing of terrorists."
The Wall Street Journal, the economic American, confirmed, (third from November current 2015), that the United States is concerned about the possibility of leakage of millions of dollars of the money that you send to Iraq, to the views of "a hostile, especially organizing Daash", or "prohibited" under international sanctions such as Iran, while showed that Washington agreed with Baghdad on strengthening surveillance and control measures, especially on the currency auction, many banking offices that the accused had "suspicious links."
The World Bank's pressure forced the Iraqi government and parliament, in (Al19mn September 2015), to approve the legislation law "money laundering and combating the financing of terrorism", days of the deadline to put on the "black list before."
And washing or "bleaching" of funds, economic crime designed to legitimize illegal to taboo funds, for the purpose of acquisition, disposition or manage, save, or replace, or deposited or invested or transferred or moved or manipulated in value if they are obtained from a crime, such as those related to the production drug or traded, or stolen jewels, as well as kidnapping, terrorism, fraud and breach of trust, fraud, fraud and immorality, prostitution and trafficking of antiquities and smuggling crimes, felonies and misdemeanors harmful to state security on the one hand the outside and inside, and bribery, and embezzlement of public money and aggression, and treachery, and crimes of fraud, and other Business illegal.
About these Early Exchanges
I have recently had a very interesting conversation with someone who served in the service along side me. He is now working for the UST. What I am about to tell you is not rumor but FACTS. Like everything I say, you can chose to believe it or not. No brainwashing here. It is a long discussion but I thought I should bring it to you.
In my mind there is no dispute that early IQD exchanges have taken place. Usually the owner of the currency has their accounts frozen pending the revaluation. They can not do a damn thing with the money until that time. Many of us complain about this procedure. Anyone exchanging and being allowed to USE the funds for any purpose, even as security, collateral or spending cash is illegal and the bank management conducting these procedures will be prosecuted. Many have already but very quietly.
So in the past (and still ongoing) this is what happened as I am told. They are allowing these early exchanges to allow the UST to collect these dinars and begin slowly using them for oil purchases from Iraq. The USA is essentially brokering the oil to other countries with a mark-up to current market prices in comparison to the oil credit amount given. They are doing this because president Obama has decided to proceed with these prearranged oil contracts in spite of Iraq not being ready to revalue and go international. Like everything else when you have the power and control you do what you want. The USA is paying off the national debt slowly so as to hide it from the general public. They can not suddenly just infuse trillions into the payoff without raising issues to the general public as to where the money is coming from. This is all about politics as they are attempting to time this just right for the election year.
So if you were the government and you decided to do this then who would you allow to exchange, knowing the currency was not yet global and legally on the exchanges? Would it be the toothless crack addicts or the very wealthy, perceived responsible parts of society? We all know the answer.
So all you people out there listen carefully. I am trying to make a point here.
Do you think the UST is reading all this nonsense and garbage on these forums about an RV every weekend?
So how do you think they categorize and perceive you and your “guru” group? Are you being brainwashed? Are you considered one of the toothless crack heads? Why?
Are they brainwashing you so you will be quite over these early exchanges? Is this the real reason for this brainwashing? By all this internet nonsense is this the real reason they are not letting YOU exchange early too?
They know they need the oil credits and I am told they would luv to have all the internet holders exchange now. But what good would it do since you could not spend the money anyhow until later. They can see this would only cause much anxiety and only would cause this exchange procedure to be made very public since now many toothless crack heads would now have proof of the illegal exchange procedures going on. They would then try to force the RV so they could spend the money they have in the bank. This would, of course, be contrary to the fight against terrorism now going in the middle east.
Just a lot of questions and so each and every one of you should dig down deep and tell yourselves why you have not been chosen for an early exchange.
By the way I am not sanctioning these early exchanges and do not agree with them taking place. I still believe that they are very illegal and anyone associate with them should be prosecuted. I believe this procedure should be notified to any news media channel that will cover the story to let the general public and Congress and the Senate know about this conspiracy and how they are doing his behind our backs. Yes I said conspiracy as this fully meets the definition. This entire mess should backfire on the current administration during this election year since who is above the law anyhow? Just because you have the power to create and enforce the laws should not put you above the law. After all we are talking about a democratic society…YES? NO?
Till next time…. Auf Wiedersehen!
Peace and Luv To Ya All,