(Note from Dinar Recaps: We just received this post late Sunday night, and are posting it now. Second, included was Mnt Goat's Q & A session, which Recaps will post later on Monday.)
June 30, 2017 Mnt Goat News Brief
I bring you much news today.
It is the end of June already. Where is the dinar revaluation we all hoped for by now? It is still coming soon I can assure you. Please, please stop listening to all these “gurus” who tell you it’s being held up due to some mysterious transfer of funds or some global realignment or some other rhetoric and nonsense.
Did you ever hear these kind of people who have told so many lies that even now they can’t get out of them without more lies? They must justify previous lies with yet more lies to keep it all going. Are you smart enough to see through it all?
I am so sick and tired of watching everyone go down these ridiculous rabbit holes. Simply put they have taken a simple, long overdue revaluation and turned it into a three-ring circus to pat their own nest. If there is any conspiracies or scams these are them.
WOW! So we know according to the Iraq targets, from their original plan, that their Iraqi security forces are 6 months late in liberating Mosul. Remember their goal was by the end of 2016 to fully liberate Iraq. So their targets had to shift and have kept shifting over and over again. The Iraqi generals in charge of the effort also change and so different overly-optimistic targets have been given. This also has caused delays. The constant concern for the protection of civilians too has caused warranted delays. On the other end, the PM Abadi is putting constant pressure on them to complete this task with minimum cost to civilian casualties.
Again I need to clarify some bad intel being pushed out. A particular so called intel “guru” is telling everyone that Chapter VII is only a protection mechanism for Iraq. Really? I quote from what was said – “They are not talking about letting them out of Chapter VII and it’s not even under chapter VII. This is Chapter VII charter. It’s a protection program.” Really?
He also goes on to say that there are no sanctions for Iraq under this UN charter.
I beg to differ what was said and so let’s look at the FACTS if you don’t believe me. Here is a link to the UN site. So if you don’t believe me you can read it for yourself.
In the early 1990’s the G H Bush administration pleaded the case twice at the UN General Assembly to put Iraq under Chapter VII sanctions. This is applied WITH RESPECT TO THREATS TO THE PEACE, BREACHES OF THE PEACE, AND ACTS OF AGGRESSION.
The USA gave reasons given was the aggressive attack on Kuwait, the peace in the middle east and for weapons of mass destruction. I won’t get into other conspiracy theories, etc, etc, as this is not my point today.
My point is since the very early 1990’s Iraq has been under these sanctions. Yes – under Chapter VII sanctions. What do these sanctions do? They are an embargo on goods and services. Embargo cause inflation. What does inflation do? This is why there was massive inflation. This is why their currency was suppressed which resulted over the next 10 years while the embargo prevailed. It still prevails today. In fact I was very surprised to see funding in the general budget for 2017 for the Food Program. This is why.
As the economy was stiffened during this embargo timeframe, if Iraq wanted to sell oil, they had to put the oil revenue into a fund (escrow account). This was called the DFI fund (Development Fund for Iraq). Then money was released from the fund based on a food program (food for oil) as they needed it to feed the citizens. This was to prevent Iraq from using the money to rebuild their military and build weapons of mass destruction to defeat the coalition forces yet feed the population. Why did they need this Food program? BECAUSE THEY HAD NO ECONOMY TO DO IT.
This continued even after the 2003 second invasion. I have proof that this 10 year embargo was A mere weakening of Iraq while the USA prepared for a second invasion. It was a period to insure there were no weapons that could be used against the second invasion. The USA knew then a second invasion was coming and this is apparent by the planning documents that began way before 2003. But his is not my point in today’s discussing.
My point is that after the second Iraq war the inflation rate was so bad they had to print a new currency and issue the three zero notes. The reason also was to make useless any of the Saddam Hussein notes that might have been in circulation in the hands of the terrorists.
In May 2003, following the invasion of Iraq in March of that year, the DFI ) account was created at the U.S. Federal Reserve Bank of New York at the request of the Coalition Provisional Authority (CPA) Administrator. A part of the fund has been transferred to Baghdad and Iraq to the Central Bank, and the DFI-Baghdad account was opened at the Central Bank of Iraq "for cash payment requirements". Folks- this is how they conduct the currency auctions and get money to import goods and services. Remember they needed US Dollars to conduct business with the outside world, they exchange dinar for US Dollars.
It is estimated there could be billions now in this fund. This could really help Iraq in the reconstruction after Mosul defeat. The recent news tells us the remainder of this fund will be released back to Iraq. Folks – this is great news for many reasons. I will explain later.
Note don’t put words in my mouth. I did not say Chapter VII is the only reason why the currency has not revalued. With massive inflation, the entire dynamics of the Iraqi economy changed. Then after the destruction of the regions during “Operation Iraqi Freedom” there was not much remaining of what economy there was.
Many are so hinged on this $3.22 post war rate. It is all a fallacy. The fact is it was not even $3.22 prior to the war. You would have to go back way prior to 1990’s to see this kind of rate. This rate was also not approved by the IMF and was an artificial in-country rate.
Next lie is that any country can make up any rate for their currency they desire. Really? How ridiculous of a statement! All you have to do is read the UN IMF currency policies to easily see this statement is nothing but BS.
The fact is you could not just push a button and revalue the IQD post war. Why?
The entire dynamics of Iraq country and economy had changed since post 1990’s. It would have to rebuild its cities and its economy. Then after the Nori al-Maliki and then ISIS attacks the situation only worsened. You all know what I am talking about as you read the articles and listened to the news..
So which middle east war are we talking about anyway?
Let me clarify and get this straight first.
Was it the Gulf War (2 August 1990 – 28 February 1991), codenamed Operation Desert Shield (2 August 1990 – 17 January 1991) for operations leading to the buildup of troops and defense of Saudi Arabia and Operation Desert Storm(17 January 1991 – 28 February 1991) under G. H. Bush? Or was it the 2003 “Iraq war” Operation Iraqi Freedom” under G W Bush?
The Iraqi Army's occupation of Kuwait that began 2 August 1990 was met with international condemnation, and brought immediate economic sanctions against Iraq by members of the UN Security Council under Chapter VII.
US President George H. W. Bush deployed US forces into Saudi Arabia, and urged other countries to send their own forces to the scene. An array of nations joined the coalition, the largest military alliance since World War II. The great majority of the coalition's military forces were from the US, with Saudi Arabia, the United Kingdom, and Egypt as leading contributors, in that order.
Another misconception is the statement that G W Bush said the war would “pay for itself”.
I will not dispute that this statement is FACTUAL but let’s look at it on a realistic approach and not some dinar RV hype.
Many believe this statement to mean that the proceeds alone from the exchange of the IQD dinar to US dollars post war is this repayment. Really? Simply not true and not what was meant by his statement. What he meant is that Kuwait and Saudi Arabia agreed to pay around US$32 billion of the US$60 billion in the cost of the war. This was more than half the cost.
The other half would come only later when we see:
1) the rest would come in the future when the US companies penetrate the Iraqi economy (now under Trump) and
2) the US ability to use oil credits from the exchange of dinars for USD. This was a well thought out, a finely laid out premeditated plan. But if we, as the average citizen, were not ever supposed to have the dinar in our possession and be part of this exchange, then who were they talking about in this plan?
They were talking about the US Congressmen and Senators and others who have been using these currencies from around the world for decades post WWII to line their pockets in the after math of war. Iran knows of this plan for their country too and they resist. Can they maintain their resistance much longer or finally give in to this economic pressure?
Don’t you think for one second that the USA is not sending Iraq the bill for all the advisors now in Iraq to fight terrorist a second time (ISIS). Folks- we are speaking about the “military industrial complex” here. They don’t get involved in wars they can’t win and they can’t pay for in some way.
So if millions of the middle class citizens now possess these dinars what impact does this have on their original plan?
They had to shift their plan. The elite (oh -how much I hate that word!) has already, illegally exchanged their dinar. But to cover their _sses the funds are frozen until the market rate of the IQD is public. This only started due some influence from the citizen dinar community, who threatened to expose this corruption. So their plan now shifted as to how do we deal with millions of the general public in this exchange. Can we even allow it?
They then rolled this money into this “prosperity plan”. This plan is for the entire USA and what Trump will soon realize. So when you hear rhetoric about some “prosperity” plan this is what they are talking about. Not some stupid New Republic plan to bring prosperity. This sinister group has absolutely nothing to do with it. In fact this group is very dangerous and is actually this “shadow US government” of corrupted officials that are using your good intended nature to manipulate you into thinking they are on your side. My advice is - stay away from them like the plague.
Going back to the Chapter VII argument- So if Iraq was no longer in Chapter VII sanctions then why would PM Abadi have a news conference in late April and tell the world he is going to get out of Chapter VII “fully” in about 2 months? What would be the significance of making this statement? Why in hell would he say this? Simply put Iraq is still in Chapter VII sanctions.
So we can see 2 items of interest to PM Abadi’s recent actions:
1)the USA is going to release what is left in the DFI funds. This is a great sign to us in that Iraq is moving out of Chapter VII sanctions and the food for oil program will end. Iraq is moving to a new phase of their economy;
2) What will happen to the currency auctions once the RV? Will there be a necessity to continue them? We now also see now scaled down to weekly auctions no longer daily. WOW! ;
3) during PM Abadi’s recent visit to Kuwait he recommitted his efforts again to repay the $4.6 billion in war reparations.
Now let’s connect the dots. All this news tells us is simply that Iraq is moving into a new phase of their economy. One that will be sanction free, embargo free, terrorists and a democratic capitalistic society. This is the situation we need to see to see for the RV to happen. I believe we are damn close.
Again NO Rumors, No Hype,,,,,,,just the FACTS!
Articles are below. As always my comments are in italic RED.
Iraqi PM declares “the end of the Daesh state of falsehood” after capture of Mosul mosque
(So please don’t listen to anyone telling you ISIS is all gone. Please see reality! )
by Mohamed Mostafa Jun 29, 2017
(Reuters) Islamic State’s “state of falsehood” has come to an end, Iraqi Prime Minister Haider al-Abadi said on Thursday, after Iraqi troops captured the wrecked historic mosque of Mosul in which the insurgents declared their self-styled caliphate three years ago.
“The return of al-Nuri Mosque and al-Hadba minaret to the fold of the nation marks the end of the Daesh state of falsehood,” Abadi said in a statement, referring to the ultra-hardline Sunni group by an Arabic acronym.
He said Iraqi forces would continue to hunt Islamic State’s fighters “to kill them and detain them, down to the last one”.
(I did not print the rest of the article. Again it’s the same old stuff about history of ISIS in Iraq. Please go read the article if you want more)
Mosul has become ISIS-free, say coalition forces
Iraqi military spokesperson, Brigadier General Yahya Rasool announced on Thursday that ISIS extremists’ reign in the country is over.
“Their fictitious state has fallen,” Rasool added.
Three years to the day since ISIS leader Abu Bakr al-Baghdadi declared the establishment of the so-called caliphate from the same spot.
On February 19, US-backed Iraqi forces launched a wide scale military operation to oust ISIS terrorists from the right bank of Mosul city, their last major stronghold. Before this, the forces managed to free parts of the left bank of the city.
(Just on Monday we heard there was still 800 meters to go, then it went to 600 by Wednesday. Thursday, they reported only 400 meters remained. I do not see how this article can be true. I personally I do not think they will complete their mission until at least Sunday based on this pace. But the news is confusing. I thought they would complete everything by earlier this week, as I was only going by what the overly optimistic Iraqi generals were telling us.)
Chief Major-General Raed Shaker Jawdat issued the VICTORY statement
Federal Police Chief Major-General Raed Shaker Jawdat issued a statement on Thursday stating that the criminals had been defeated and the men of Iraq had won the case thanks to God and the support. (But is it really “fully” done?. How many times have we heard this from his generals and then the next day more fighting. Let’s see what PM Abadi says)
“The people of the great people of Iraq, the people of victories, sacrifices and civilizations,” said Jawdat in the “victory statement” received by “Al-Ghad Press.” With all the titles of pride and pride, the leadership of the Federal Police Forces celebrates the victory of Al-Maser, The brave Iraqi soldiers and heroes of the Iraqi army are fighting with determination and steadfastness.
They are crushing the heads of rotten terrorism and liberating the land of Mosul and its people and restoring the dignity of the dear homeland. ”
NATO’s Main Focus in Iraq is to Build Capacity to Train Iraqi Forces
The main focus for NATO in Iraq is to build the capacity to train the Iraqi forces, NATO Secretary General Jens Stoltenberg said on Thursday. Stoltenberg said in a statement that the purpose of the military operations in Iraq is to deafeat the so-called Islamic State (IS), but despite that, the main focus for NATO is not on the combat operations.
He explained that the most important thing for NATO, since the beginning of the campaign against IS, is to build a capacity for training the Iraqi forces, which would create conditions for stability and peaceful development in the future.
Their words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,
(Note from Dinar Recaps: Included in this post to us was Mnt Goat's Q & A session, which Recaps will post later on Monday.)
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