"RV UPDATE" BY MNT GOAT, 19 JUNE

Mnt Goat   

Article:  "DETAILS OF THE MEMORANDUM OF UNDERSTANDING SIGNED BETWEEN IRAQ AND HONEYWELL OF AMERICA"  

Quote: “The memorandum that was signed aims to develop projects for developing refineries...noting that “raising the refinery capacity to 40 percent will add value to the crude oil produced and lead to raise financial returns and thus support the national economy.”  Folks, they just told us they will be expanding their oil capacity...Iraq will also be selling these refined oil products to the rest of the middle east and probably Europe and the US.   How much more revenue will Iraq generate before they finally give us the new rate? ...Yes, there is a plan in place...all the signs are pointing now to much, much sooner than later. I certainly hope its June...

...the economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, proposed an “unusual” idea to establish a sovereign wealth fund. ...Unlike the CBI reserves that are mandated by the IMF to cover the government expenses in time of emergencies, the SWF is more flexible and gives an additional pad of money for stability and security. This fund will also cut down the reliance  on oil revenue and help them move more quickly out of the rentier economy.  WOW!