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December 22, 2016 Mnt Goat News Brief
I bring you much news today. First let me say that I don’t care who tells you otherwise or what ridiculous story they tell you to substantiate their claim. Read my lips – THE REVALUATION OF THE IRAQI DINAR HAS NOT HAPPENED! The country of Iraq is still mandated to use the provisional rate as dictated by the CBI. This rate is subjected to the market rate of about 1180 – 1300 dinars to the US dollar. I will back up these statements today with FACTS as you read on in today news letter.
Okay so a few banks are now selling and buying the Iraqi dinar once again in the western countries. I do not yet see it in Europe. If you can remember back before 2011 many of these same banks also exchanged dinar but then soon pulled away from this currency. So you first have to understand why they did this?
There are many reasons. First it was the lack of security in the country once the US forces pulled out. Remember currency trading is highly speculative. Second it was the Maliki actions against the CBI in 2012. So they did this not so much because you investors pestered the banks with your questions and anticipation of some RV, as many "intel gurus" told you. This is NOT all about you.
So in actuality they pulled away because of the exposure to the Federal Reserve and were told to no longer to trade in the currency of Iraq since Iraq was still in sanctions. Kind of like "spanking" the banks....lol...lol...
So what happened today (what changed) since some of the banks are back trading the Iraqi dinar?
Legally they could have resumed trading the Iraq dinar since June 2013 (when Iraq was lifted from many sanctions), but chose not to do so until they received the legal approval from the Federal Reserve (since they were reprimanded in the past). The change that occurred - The USA no longer supported the Maliki administration and there were fears the country might go down-hill really fast if the did. This is why! Get it? This is also based on the successes against ISIS and the recent statements made by the IMF over the success of the SBA reform progress.
So this approval is geared more towards the movement of the Iraqi dinar from article 14 to article 8 of the UN charter under mandates for member nations. This is, of course, terrific news for Iraqi currency investors. Just remember things do not move on your schedule and take time to roll out and get communicated. (in other words flow downstream). Article 8 means to operate under “international” constraints and Iraq now has new obligations under Article 8. They have proven worthy of this move. So logically the currency is now more available to the banking system and is now showing up in many banks. It is simply that simple.
Remember also banks can refuse to trade in any currency if they chose to do so. Remember too they must make money somehow in any transaction. This is why they are in business. So not all banks may now have the Iraqi dinar.
Please let’s all relax and stay calm. The Iraqi dinar may now be international but the rate we all expected is not yet shown. This is exactly rolling out like so many good people have told you and you refused to listen.
Many of you simply refused to listen to these people but instead insisted on all this everyday/ any day nonsense. They bring you the truth as I do also today. As I too said in the past there was NOT going to be some trigger (any one trigger) that would be pulled and you would simply wake up the next day and see it international with the high rates you expected. All this GCR and 120 currencies revaluing at once is nothing more than not true. You only believed this because you heard it so many times from all the intel “gurus” that you believe it to be gospel. This is why they advertise on TV like they do. They do this to “drill” the information into your mind. Then when you go shopping you naturally migrate towards their way of thinking and buy their product. But with the Iraqi dinar revaluation you can think whatever you want from these gurus but this will not change the situation since they are not in control.
So here we go again. I have told you this roll out would be slow and gradual. It has happened so far just as I was told and as I passed this info on to you.
The next step for the CBI-
Now that they have moved to this point in the currency reform, it is my opinion (and backed by very good evidence), that the next move is to launch the lower denominations in Iraq and let them foster for a period of time. They have told us this action will occur in EARLY 2017.
Again read my lips – EARLY 2017!!! Not before Christmas or before the new year but in EARLY 2017!!!!
Did you hear me? I said EARLY 2017!!!!
I want to spank anyone for telling you otherwise!
They will NOT yet raise the rate initially in this first move that just recently occurred. It does not mean the RV is going to happen before Christmas or before the end of the year.
So then what does it mean?
It simply means what it means and nothing more. Amazingly this is the TRUTH and there is no hype or greater anticipation here before this move occurred. So I certainly wish all these so called “intel gurus” would just learn to keep quiet. There is enough stress already with the holiday season upon us.
So don’t get scared on this next move of the CBI, which I believe will happen in very EARLY 2017.
So what will be this next CBI move?
What will happen is they will try to “shake the tree” and get as many of the three zero notes as possible from the general public. One last and final attempt. For instance the 25,000 dinar notes will be traded in for a combination of the new lower denominations. Both still worth 25 US dollars.
Many will say this is a log. So is this a lop?
In theory it would seem like a lop but in reality it is not since the 25 in lower denominations will then be worth 25 US dollars and there is no change in value…..yet as it looks on surface it might be. Not a lop since no change in value. Still under the 1180 – 1300 CBI restraints.
But in reality this is what they are doing:
The CBI is easing the new rate slowly and letting the economy adjust for inflations. By adjusting to the 1:1 with the US dollar, just as the CBI have told us so many times in articles would happen. So some combination of the new lower denominations will be worth $25 US dollars face value compared to the 25,000 dinar note after this move. Is this in itself not an adjustment upwards? But not yet an “official” “revaluation” and this is my point here today. Tricky, tricky, tricky…..lol…lol…
This is a tricky concept to visualize in your mind so be careful don’t think about it too much. But this is how they are going to raise the value and launch the lower denominations.
So to help you understand better let us compare this action to the LOP that is about to occur with the Iranian Rial. The CBI of Iran will allow trade in 10 Rials for every Toman. But the rate of the Toman remains 39,000 Tomans for every US dollar. The rate just got worse since you now have more Rials to the Toman they lopped off 2 digits but the rate per Toman still remains. Do you see the difference in what is about to happen in Iraq compared to what is about to happen in Iran. Iran is about to undergo a huge LOP.
But this future EARLY 2017 action by the CBI is not yet a full “revaluation” since I also told you the plan is to officially revalue the currency in a short time afterwards. It could be a few days, a week or a few months.
That this initial 1:1 rate may not even show up at the banks since it may happen all so quickly and as I told you it takes time to trickle down. The rate you will most likely first encounter at the bank will be the rate over $3.22 or something like it.
More amazing news for this period……
Economy News / Baghdad printed this week saying quote from the World Bank, Iraq "one of the richest countries in the world on the face of the earth." Middle East director of the World Bank Farid Belhaj said that Iraq is "locked in a deep structural reforms and widespread at the same time, which is fighting a bloody war against the destructive power." Belhadj said that Iraq's wealth from oil and gas constitute a solid guarantee for the repayment of loans. " He pointed out that "Iraq is one of the richest countries on earth, Iraq has a huge potential, Iraq has the ability to pay its debts."(Hey Folks- it doesn’t get any more optimistic than this!)
The Kurdistan Regional Government has announced in a statement rejected the budget law, noting that it "does not guarantee the rights of Kurdistan and it is a serious political plan against Kurdistan Region."
Kurdistan Regional Government to discuss with the Kurdish blocs in the Iraqi parliament's budget in 2017
Roudao - Erbil
The complexity of the Kurdistan Regional Government, on Wednesday, December 21, 2016 meeting with the Kurdish blocs in the Iraqi parliament to discuss the federal budget forthe 2017 law, has been postponed after the meeting , which was to be held last week at the request of four blocks.
The MP said the mass change, Masood Haider, network Roudao media, said that "block change decided to participate in the cabinet meeting to discuss the budget law," adding that "the budget is in the interest of the Kurdistan Region, because the federal law and the province remains part of Iraq."
For its part, the MP said the Kurdistan Democratic Party bloc, Najiba Najib, to Roudao: "We believe that the 2017 budget is not in favor of the Kurdistan Region, because it states that send money to Kurdistan will be according to the oil source and this violates the constitution and is presumably the conditions do not grant rights Kurdistan ".
Najib pointed out that "It is true that the budget law of a federal law, but its content is unjust, and that in previous years was of material there without the Baghdad implementation."
Furthermore, he said the head of the Islamic Bloc group, Ahmed Haji Rashid, to Roudao "It's the first time that the installation of the financial dues of Peshmerga in the budget law for 12 years," explaining that "the budget included a provision of 100 thousand fighters from the salaries of the Peshmerga, but there is no agreement on a specific number. "
He added that they have done everything in their power to secure the rights of the province of Kurdistan, acknowledged not being able to change some of the material to achieve the interests of Kurdistan, following up, "and the rest depends on the dialogue between Erbil and Baghdad."
The Kurdistan Regional Government has announced in a statement rejected the budget law, noting that it "does not guarantee the rights of Kurdistan and it is a serious political plan against Kurdistan Region." (Here we go again, Is this more sectarianism? But his article is telling us the problems with the 2017 budget and that they are holding it up at the President level until they get these issues ironed out fully. President Masum will not ratify it until this is done. It is NOT yet in the gazette as I have told you before and this is the proof of it. Again Mnt Goat is right!)
CBI recommended, Tuesday, eight banks, including Islamist need to put its shares on the Iraq Stock Exchange
BAGHDAD / tomorrow Press An informed source said that the CBI recommended,Tuesday, eight banks, including Islamist need to put its shares on the Iraq Stock Exchange, setting by the end of this year as the closing date.
A source at the bank who asked not to be named, said in an interview for "tomorrow's Press," that "a formal letter recommended the nine banks, including five Islamic banks, namely, (the world, the South, Ceyhan, Zain Iraq, the country), and the other four, namely, (Erbil International, Huda, the " .provincial trade) offering shares in the Iraqi stock market.
The source added, "The trading in the shares in the market contributes significantly and directly in local and foreign investment, development and believes the implementation of effective controls, the performance of these institutions and followup, indicating that the central bank gave these banks until the end of this year to sell shares in the market. (there is it again…the end of year target…just saying what the article is saying…lol…)
Structuring all banking offices and cash by the Central Bank
The parliamentary finance committee, said that the Committee agreed with the Central Bank of Iraq, the structuring of all offices of banking and financial transfer to the provinces, saying that the controls will be strict and not smooth. (this is the decentralizing of the banking system away from govt run to privatization. They will need this to succeed in a market driven economy)
He said committee member Ahmed met in a press statement that "all official offices specialized financial and banking transfer was working easy and smooth controls set by the central bank."
He added that "the central bank will change all of those controls and procedures more, pointing out that" the Central Bank will overhaul all banking offices and financial conversion, pointing out that the restructuring of offices will be exclusively for official offices, not phantom or unlicensed. "
And that "the Central Bank does not deal with unlicensed banking offices in the purchase of foreign currency in the financial auction by the government banks, pointing out that" the Finance Committee monitors the work of the central bank's role in dealing with banking offices. "
(okay so what else is this article telling us? It is telling us of course the CBI is allowing the private banks to handle currency exchanges and get out of the currency auctions business. But wait a second…- How can they do this if they still need to exchange dinars to dollars to pay foreign debts in this so called “closed” economy of theirs? Well THINK! When they move to a global economy out of the “closed” sanctioned economy they will no longer need the currency auctions as they do today. The banks in the near future will be handling the electronic transfers of funds for the companies invested in Iraq. The only real bulk of cash dinar to dollars exchanges will be for the people traveling and in need of cash. So just like in western countries today the draw for actual cash will be minimal and closely monitored. This article is just yet another sign we are VERY close to the global currency for Iraq. )
Parliamentary Integrity: small banks and money exchange offices have become a victim of the corruption of community bank
Alsumaria News / Baghdad
Confirmed the Integrity Commission , member of the parliamentary Taha defense, on Tuesday, the occurrence of many small banks and bureau de change "prey and victim" to cover up the corruption of another civil significant and sustained by banks, at a time between the bank aims to set up cameras to monitor the sale of currency process, pointed out the eliminating the acquittal of many private banks relating to corruption.
Slack said in an interview to the Sumerian News, "Some of the banks that cause the loss sustained by the parties and political blocs currency , " stressing " the need to find new mechanisms to curb the smuggling of currency operations and increasing bills and bonds to import counterfeit goods by limiting the auction currency credible and subsidiaries the views can be relied upon to support the country economically and financially.
Slack said , "it was open a number of issues about those banks with the Integrity Commission and the Committee of the Parliamentary Integrity some of which arrived in the judiciary, but the judiciary acquitted a lot of them," adding that "some banks and banking and small size of its handling simple to exceed the $ 5 million has been punished and signed victim and prey to cover up the corruption of the largest banks evade currency and dealing daily with hundreds of millions of dollars and has a lid and backed but can not be held accountable or stand her face. "
" The central bank promised to put new controls on currency auction, which up until the customers of those banks by installing cameras to monitor the sales process, " pointing out that " the primary problem we have today regarding the need to limit the currency sell a specified private bank Rafidain and Rasheed and not to launch it unsupervised. "
Defensive and "we as a committee representative competent and we put the recommendations of the Central Bank, and we referred several files related to cases of corruption for many to the Integrity Commission and reached some of those issues to the courts , " explaining that "we can not impose a specific mechanism of action Auctions sell the currency they are imposed from the executive branch ".
The Commission considered the economy and investment representative, at (November 23, 2016), that "spoilers" control over the work of most of the private banks is one of the reasons for "foot - dragging" of those banks and their reliance on auction sell the currency to obtain imports and profits and its inability to support investment. (do you know what they mean by “spoilers”? Spoilers are people who profit from some else’s disadvantage or profiteers)
Their words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,
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