OIL PRICES RISE ABOVE $94 A BARREL
Baghdad Today – Follow-up
Oil prices rose in early trading today, Wednesday (September 27, 2023), as markets focused on tight supplies ahead of winter and the “soft landing” of the US economy.
Industry data issued Tuesday showed that US crude oil inventories rose last week by about 1.6 million barrels, compared to analysts’ expectations of a decline of approximately 300,000 barrels.
(Yet the dinar is at 1/6 of a penny still?)
More news….
THE DRAFT IRAQI OIL AND GAS LAW…THE “BIG KNOT” HAS NOT YET BEEN RESOLVED
(Any so-called intel guru that tells you the Oil and Gas law (HCL) is all done is flat out lying to you. Why do you even listen to their calls or visit their sites? They have no clue.)
Since the first session of the Iraqi Council of Representatives, in 2005, the draft oil and gas law has been locked away, as disagreements prevent its approval in its final form.
After 18 years, he announced, in late last August, the formation of a committee to develop “a draft of the oil and gas law and present it to the government and the House of Representatives,” according to what MP Firas Al-Muslimawy revealed to the Iraqi News Agency, “INA.”
The representative confirmed that “there is a real will in the House of Representatives to legislate the law,” noting that “Iraq’s oil is one and indivisible, and there is a movement towards achieving justice in the distribution of wealth to the people, whether in the Kurdistan region, the center, or the south.”
(I encourage everyone to read the entire article in the Articles Section of today’s Newsletter. It is very informative and will help you understand the delay in getting this law passed.)
Please also reference my up-to-date research on the Oil and Gas law in my blog by clicking on this LINK.
STATUS OF THE RV
So, in the past we have talked lots about SECURITY & STABILITY and how they were necessary to conduct the Project to Delete the zeros, which leads to the RV and Reinstatement. But we talked more about the stability part and so let’s cover the security part today. Is Iraq secure?
Do they have the capability the worth off another major ISIS or like threat?
In today’s news Article Section we read and I quote – “The Joint Operations Command confirmed, today, Wednesday, that it possesses all preparations and weapons to preserve the country’s security and capabilities. The command’s spokesman, Major General Tahseen Al-Khafaji, said {to Al-Furat News}: “We, as security forces, possess the preparations and weapons that enable us to maintain the security of our country, its capabilities, and vital targets.” Al-Khafaji added, “The armament of the security forces is good and we aspire for it to be higher, as well”.
Also the US government in Washington confirmed that the presence of US troops in Iraq is agreed with Baghdad days after statements by Iraqi Prime Minister Mohammed Shiaa Al-Sudani that ISIS no longer poses a threat, and that his country no longer needs the international coalition. I quote from the article – “ US forces are in Iraq at the invitation of the Iraqi government to undertake the task of advising, assisting and empowering,” State Department spokesman Matthew Miller said.
Also Al-Sudani noted in an interview with C. N. On the sidelines of his participation in the 78th session of the United Nations General Assembly, the “the Iraqi and American Ministries of Foreign Affairs are arranging a date this year, to meet the invitation of the American President for us to visit Washington,” noting that “one of the most important topics to be discussed in the visit is the Strategic Framework Agreement.”
You decide if Iraq is now secure enough….. 😊 Does it meet these guidelines of SECUIRTY imposed by the U.S.? Why would the US agreed to pull out of Iraq is they felt it was not secure enough and Iraqis could not handle a crisis?
THE DOLLAR SAGA continues….
We also read in the news today that over the course of the dollar crisis, the government took several decisions that were intended to reduce the value of the dollar against the dinar, but these decisions failed to find solutions, and the crisis is still continuing. The economic expert, Diaa Al-Mohsen, believes that the Central Bank of Iraq is “incapable” of finding the real mechanism to control the rise in dollar prices, pointing out that “the Central Bank works with a mechanism that allows the process of evasion and currency smuggling. But we know the solution they must take and that is to make the Iraqi dinar more valuable than the US dollar. Al-Sudani months ago already told us the dinar was more valuable but the “official rate” is still 1/6 of a penny. So, until they decide to pull the plug and let it go they will continue this fight against the dollar.
As you know I often am asked by my American site manager, George if I can respond to questions asked on the blog. So I will try to answer a couple today. I want to thank those that are concerned enough to ask.
Question from workhome09: Will there be a cap limit on the dinar when exchanging? Thanks for all you do MG Godbless.
Mnt Goat Answer:
Hello workhome09:
Yes, the IMF will place the dinar initially on a managed float and I was told around a $9 cap but that was years ago and things have changed. The new peg is to six main of the developed countries with only about 65% to the USD. I wouldn’t be surprised if we witness up to $12 before they cut it off. Dr Shabibi told us in 2011 that the dinar back then could sustain a rate of $16.So go figure. They are now pumping 2/3 more oil and have agriculture exports now and also 132 tons of gold. Also lots of needed and valued industry needed minerals. The Customs & Tariffs alone, if they can get their head out of their asses, could rival the oil revenues. So go figure. They are filthy rich! 😊 I am seeing a constant rate of about USD $3.80-$4.25 range on the back screens at the bank right now.
Question from Roger:
Holiday in Iraq on Ocober 3 – iraqis will for the first time celebrate their Independence Day. Next day – October 4 is Iraq finally a member of World Trade Organization. This is hard facts that cannot be debunked.
Can Iraq still continue with the program rate of 1132 until the end of the year? Or will CBI release the new small category notes before October 4?
Mnt Goat Answer:
Hello Roger, hope you are doing fine. We are very good here in Germany except for the slump in business and the woke rules from the woke government. Germans are hard people and so we will try to survive somehow.
Thank you so much for your comments and questions. I am glad to help.
Looks like two questions so I will try to answer both. I wish we can see the RV at least within Iraq so they can exchange to the newer lower denominations by then, but I do not have a date. WE just need them to kick off the process into high gear and get doing. Get it?
This would be a grand idea for al-Sudani to do for the people on liberation day. WOW! As you know they will not give out any dates only a window when they plan to do it. I was told October for the re-education and them they should follow closely with the newer lower notes.
But remember this is not their final rate. It is only a temporary rate in-country for the citizens to make the transition to the newer lower denominations and to suck up all the 3 zero notes. Did you hear me? I said temporary even in Iraq. The dinar CAN NOT have two rates at once. Get it!!!! I repeat The dinar CAN NOT have two rates at once.
We will see a different rate on FOREX and this will then be the in-country then also once they complete the redenomination, which will be much higher. Since they do plan, as far as I am hearing, to reinstate the dinar until around January, they will use the in-country RV rate first, as I just mentioned. At that time the programs rates are done. No more 1132, it will be around 1:1 with the US dollar. Did I say $1? No! I did say around 1:1. Get it? Your question on this is confusing. Seems you still don’t comprehend the process. I hoped this helps you and others. Seems no matter how many times I go over it, many still don’t get it.
About the WTO accession, the articles told us months ago they were in the final stages and so they are all ready to go. They only want a currency that can be international prior to making the final move. They don’t need the currency to revalue only reinstate to be in the WTO, but we know they will revalue when they do reinstate it and go international. Get it? I know lots of idiot gurus tell you otherwise but you come to my blog for the TRUTH and so here it is. Read it again and carefully. I repeat, they DO NOT have to RV (no mandate for the WTO says they do) only need to reinstate for the WTO, but they are choosing to significantly revalue when they do reinstate it. So we are good…. 😊
I can tell you unequivocally, with 1000%, no doubt whatsoever, that the RV is NOT going to happen on the Independence Day of Iraq of Oct 3rd or even Oct 4th or even in the month of October in general. 😦 Sorry you were lied to again! Makes you wonder who you should listen to for your information on this investment? This is FACT and we all need to stop the rumors without anything of factual terms to back them up. No wonder so many people are confused.
Define To Speculate: form a theory or conjecture about a subject without firm evidence or any evidence. Spreading rumors.
Define To Make Factual Statements: an honest attempt to draw a reasonable conclusion from factual evidence.....for read more: https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/
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