Wednesday, October 2, 2024
National Union: We are working to activate Article 140 to serve the disputed areas, 3 OCT
National Union: We are working to activate Article 140 to serve the disputed areas
The Patriotic Union of Kurdistan confirmed that it is working to support and assist the disputed areas and is working to resolve this issue in accordance with the permanent Iraqi constitution.
The Patriotic Union of Kurdistan announced, within the program of List 129 for the Kurdistan Parliament elections, several points to serve the disputed areas, which are working to activate Article 140 of the permanent Iraqi constitution and implement all its paragraphs, in addition to normalizing the security, military and political conditions in the disputed areas that are going through abnormal conditions due to the repercussions of the referendum.
The Patriotic Union stressed that it insists on the share and entitlement of the Kurds, according to the election results, in the administration of those areas and the continuation of assistance to service institutions in the disputed areas, especially the Kurdish areas that were neglected by the administrations imposed on those areas and support for Kurdish studies in those areas and the acceptance of a good number of students in the universities of the region and support and assistance to Kurdish cultural, artistic and sports institutions in the disputed areas. link
THE RV WILL OCCUR AFTER THE NOV 5TH VOTING BY MNT GOAT, 3 OCT
Mnt Goat
I am telling you that I know with 1000% certainty we will NOT see the RV until after the Nov 5th voting...
In a conversation with my CBI contact on Saturday I was told that if all goes well in the US elections, we can expect to see the preparation gearing to the reinstatement by the start of the project to delete the zeros and the swap out of the larger notes for the smaller denominations.
I was told this is now planned to begin shortly after the voting is over and the winners are announced. I was told we might have to wait for the inauguration ceremony to conclude to see the reinstatement occur.
Economist outlines financial options as oil declines...and warns, 3 OCT
An economic expert revealed the options available to the Ministry of Finance if oil prices continue to decline.
Salah Nouri told Al Furat News Agency: "The decrease in the selling price of exported oil affects the Ministry of Finance's commitment to financing the (current and investment) budget."
He explained that "the options before the Ministry of Finance are either to proceed with implementing the budget paragraphs, which means increasing domestic borrowing, which in turn affects the liquidity of government banks and the employees' pension fund, which are the lending entities, or to reduce funding for investment projects and some paragraphs of the current budget."
He warned that "reducing funding and spending leads to economic recession."
Nouri continued, "From a psychological and behavioral perspective, citizens with limited incomes fear the further decline in prices, which leads to a reduction in their monthly spending." link
EXCERPTS FROM MARKZ, 2 OCT
EXCERPTS FROM MARKZ
EXPERT COMMENTS ON THE RETURN OF THE DOLLAR EXCHANGE RATE IN BAGHDAD, 2 oct
EXPERT COMMENTS ON THE RETURN OF THE DOLLAR EXCHANGE RATE IN BAGHDAD
Today, Thursday (September 26, 2024), Mustafa Hantoush, a researcher and specialist in financial and banking affairs, commented on the return of the dollar exchange rate to rise in Baghdad.
Hantoush said in an interview with Baghdad Today, “The dollar exchange rate in the local market is neither constantly rising nor constantly falling, but rather fluctuating, which means that solutions are possible to control this price, and the government has begun working on some solutions, including the directives of Prime Minister Mohammed Shia al-Sudani to return banking competition and not monopolize dollar transfers and others on some banks, as this competition will lead to greater stability in the exchange rate of the Iraqi dinar against the dollar.”
He explained that “there is a government trend to support the Iraqi banking system so that there are no specific banks controlling foreign transfers, and this is a good and important step, in addition to developing international financial and banking relations, especially with the American side through the Prime Minister’s meeting with the US Deputy Secretary of the Treasury and discussing the status of the banking system and the dollar, and the meeting of the Central Bank of Iraq less than a month ago with the Treasury and the agreement to contract with the consulting company (Olver Wyman) to review the status of the Iraqi system (restricted by the dollar), which is supposed to sign a contract with it soon, which will have a positive impact on the dollar exchange rate file, and this matter reassures the street and reassures the market.”
He added, “The Iraqi government can work to create an official platform for the issue of trade with Iran and Syria using remittances or gold, in order for imports to be legal, and this reduces the great demand for the dollar through the parallel market, which is the main reason for the dollar’s rise above its official price.”
The US dollar exchange rate witnessed a significant increase in the past few days, reaching 152 thousand Iraqi dinars for every 100 US dollars in the main stock exchanges in the capital, Baghdad, as well as in the local markets, after it had recently witnessed a decline of 147 thousand dinars.
Can it get any clearer that Iraq is not in control of the RV? BY MNT GOAT, 2 OCT
Can it get any clearer that Iraq is not in control of the RV?
Why would the US allow the RV to happen which would lead to a stream of income from the trading of the IQD on FOREX, if they want to maintain control over Iraq using blackmail methods to do it, thus using money to do it.
Remember “money talks, bullshit walks”. Please go read the section in this article on “BLACKMAILING IRAQ”. It will be an eye opener for sure for many of you.
This control also includes control over their currency moving back to the currency exchanges.
There is no sound legal basis for the hold up, other than the corruption of the US in prolonging the RV in the first place. Get it?
Most of this corruption would not have taken deep roots if they had let the RV go through in 2012-2013 as planned by Dr Shababi. As I said, and many others, the longer they wait for the RV, the harder it is going to be to uproot the corruption. Was this all intentional?
Where exactly was a lot of this lost or stolen money going? Did the US politicians get “kickbacks” from Iran the longer they let this go on? Yes, I know this all sounds almost unbelievably corrupt, but I am sorry to say that through Bush, Obama, the Biden, Trump administrations this scheme did exist. The nuclear deal was just a distraction from the real corruption. Get it?
Yet the US again acts as the bully and gets what it wants, even if it circumvents the sovereignty of Iraq.
Oh… wait one second! Did the US invade Iraq to free Iraq from the dictatorship of Saddam? It’s been over 20 years already and so where is all this freedom they promised? Remember two points:
1. Having a constitution does no good unless you follow it; 2. Money talks, bullshit walks. Do you see my point here? So, who is in control of the RV? Oh boy if you can’t see by now that, everything I have been telling you is true and that namely the US through the US Treasury has been holding up the RV, than I give up on you. This article takes all the intel guru guessing from this question. Read my lips, read the lips of the Iraqi people – It is the US that is holding up the RV. Get it now?
So, to conclude my commentary today I am not going to tell you some foolish, stupid bank stories or about some three-letter agency telling me “it’s all done”. Instead, I am going to make you a promise to keep giving you real and honest information from Iraq itself. Remember not to be fooled by all this nonsense from these intel gurus. They lie to you and deceive you. They are doing nothing more than speculating and guessing. Of course they have already taken my recent information and telling you there is a rumor about early 2025 RV. Folks I am here to tell you it is much more than a rumor, unlike their garbage they have been pumping out to you. Some information is not rumors, as these intel gurus can perceive the TRUTH even if it hit them in the head.
Every piece of forthcoming events told to me by my CBI contact so far have come to pass or are now underway. We have seen the consolidation of banks, the dissolving of some banks, and in today’s news we read about the defunding of some. Is this not what the US Treasury is in Iraq to do, as I was told? We also witnessed many educational articles and videos presented to us, sponsored by the CBI, as we were told would happen. We were told prior to June that June would be the kick off of the process of the 3rd phase of the strategic projects for Financial Reforms and we witnessed the US Treasury then get involved. WOW!
Then we were told earlier that the project to delete the zeros, could not occur unless the US Treasury gave its assurances to complete the process once started, which meant to go all the way to the reinstatement (end of process).
It could not do this at that time and then the US Treasury finally stepped in and is now more forcefully and aggressively moving these reforms ahead.
We seem to see only mostly the banking reforms but they are also working to help recommend procedures and regulations of the Iraqi Stock Market (ISX) and get it back on track too. These are also reforms in case you forgot.
According to the US Treasury these reforms are necessary to combat corruption. Just so you remember my contact also told us that Ali Al-Alaq was not leaving the CBI as the director and his resignation was NOT accepted. He really did not want to leave but used this tactic for pressure to get the GOI Finance Committee to listen to him and to appreciate his plan to get to the reinstatement.
Many don’t want to listen and instead believe you can just hurry the process. This reminds me of many of the intel gurus out on the web that know absolutely almost nothing about what is really happening in Iraq.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/AL-SUDANI ISSUES BANKING DIRECTIVES, INCLUDING SUSPENDING CAPITAL INCREASES FOR BANKS SUBJECT TO US SANCTIONS, 2 oct
AL-SUDANI ISSUES BANKING DIRECTIVES, INCLUDING SUSPENDING CAPITAL INCREASES FOR BANKS SUBJECT TO US SANCTIONS
A government source revealed, on Thursday, that Prime Minister Mohammed Shia al-Sudani issued directives related to financial and banking reforms, including not increasing the capital of banks subject to US sanctions.
The source told Shafaq News Agency, “Prime Minister Mohammed Shia al-Sudani, before leaving for New York, held a number of meetings with banks and the Central Bank of Iraq, where those meetings discussed in detail the Central Bank of Iraq’s plan to rehabilitate private banks by contracting with an international consulting company.”
He explained that “the Prime Minister directed a number of points, on the importance of the plan for developing private banks by Oliver Wyman Company being clear in terms of timing, distribution of responsibilities, and issuing progress reports in this regard.”
The directives included “accelerating the implementation of the recommendations issued by the Ministerial Council for the Economy to support Iraqi banks, including delaying the increase in capital for banks banned from dealing in dollars by the US Treasury.”
The source indicated that Al-Sudani also directed “the preparation of a study to activate the local cards project internally, as well as urging Iraqi ministries and institutions to increase dealings with licensed Iraqi banks in various banking services and open accounts with them.”
Who is holding up the RV? BY MNT GOAT, 2 SEPT
Who is holding up the RV?
I get asked this question all the time. However, I have stated the answer many, many times already. It just seems the ones asking the question don’t really want to hear the TRUTH answer. They want a simpler answer, a quick solution to a difficult issue. Let’s explore this today.
You know I get a bit sick and tired of hearing all these opinions, yes just stupid opinions, from these intel gurus that are just idiots trying to make a name for themselves. What I want are the FACTS from the source itself. No, not some make believe source but the TRUE backed by FACTS. So, in today’s news we hear from one of the truthful sources in answering this question as to who is holding up the RV.
☹ In yet another article today titled “WHY DOES THE US STILL CONTROL EVERY PENNY OF IRAQI OIL REVENUES?” we can now clearly see the corruption of the US upon Iraq.
This information should not be new to any of my readers. I have been talking about this for years now. However, it is nice now to see it openly being exposed in the news, as the prophets told us from God “what can be exposed will be exposed”. So, to answer this question of who is holding up the RV let’s look at the article. When I finished reading it I asked myself– Yes, why do they, if not for corruption?
The facts of why they should no longer control Iraq’s money are outlined clearly in this article.
I quote from the article – “Attempts by the UN to restore Iraq’s control over its finances have largely failed. In 2010, UNSC Resolution 1956 demanded the closure of the DFI by no later than 30 June 2011 and the transfer of all proceeds to the Iraqi government.”Folks I am not making this stuff up. You can go read the article yourself.
Also I need to point out yet another device the US is using to justify control over their funds thus the currency too, is the Executive Order EO 13303. I know most of you did hear about this EO every May when it come up for renewal. Since the signing of Executive Order 13303 (EO13303) by President George W Bush on 22 May 2003, all revenues from Iraq’s oil sales have been funneled directly into an account at the Federal Reserve Bank of New York. This flow of revenue will continue until this EO is ended. The RV can not and will not happen until this EO ends.
☹ EO13303, titled “Protection of the Development Fund for Iraq and Other Property in which Iraq Has an Interest,” has been renewed annually by every US president, including Joe Biden in 2024. This executive order essentially places control over Iraq’s oil revenues under the discretion of the US President, leaving Baghdad with limited control over its resources and earnings.
INCLUDING LIQUIDATION AND GUARDIANSHIP… A SERIES OF DECISIONS ISSUED AGAINST IRAQI PRIVATE BANKS, 2 oct
INCLUDING LIQUIDATION AND GUARDIANSHIP… A SERIES OF DECISIONS ISSUED AGAINST IRAQI PRIVATE BANKS
Revealed source beginning, today on Thursday, a number of decisions were issued against a number of Iraqi private banks, but they were delayed.
The source said in an interview with Sumerian News, “Bank Babylon It was referred to forced liquidation, and the bank was placed under guardianship. Arabic Islamic and Bank the East Middle East Iraqi for investment.
The source pointed out that “the guardianship period of the bank has been extended until October 31st, noting that “the decisions issued on the aforementioned banks were postponed without knowing the reasons.”
IS DELETING THE ZEROS REALLY GOING TO HAPPEN? BY MNT GOAT, 2 OCT
Is Deleting the Zeros Really Going to Happen?
Today I have yet another video presentation for you on the project to delete the zeros. WOW! Another one? Yes, they are trying to inform the people. However, this video is not from the CBI as I asked my contact if it was. You can clearly see the negativity as it points out and emphasizes some issues that simply are not issues.
Why do these economist keep saying Iraq is unstable or the project to delete the zeros will destabilize it?
While just last week while in New York, the prime minister Al-Sudani told the world and I quote – “
A stable Iraq in a sensitive region is beneficial to the world, which is what we have witnessed since October 7, as Iraq has maintained a great balance and calm, and we have kept Iraq away from the arena of conflict.”
From this Al-Sudani speech you can also see that he wants Iraq to stay out of this middle eastern conflict with Israel but the Iranian backed politicians keeps trying to pull Iraq into it.
Yes, if they did get involved this would be VERY destabilizing for Iraq, something Al-Sudani does not want especially at this time since they have taken these financial reforms so far already and they are so close to the reinstatement.
A recent example of what I mean:
This video below is a typical news station interviewing economists on the subject matter. But we must ask ourselves WHY and WHY NOW all this talk about the project to delete the zeros in the news.
Is the country of Iraq telling the people this will happen shortly?
Is this why all this news about it? Of course, the answers to all these questions is a Big Fat YES! What the hell else have I been telling you now for weeks? Even since June?
As of you may remember that Prime Minister Mohammed Shia al-Sudani came to New York last week to speak the UN General Council Meeting.
Later he participated in a dialogue session held in New York after midnight on Wednesday, by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council. You might want to read the article titled “HIGHLIGHTS OF THE DIALOGUE SESSION ATTENDED BY AL-SUDANI IN NEW YORK” to get more information about his visit. And NO it was not all about the RV arrangements, as many intel gurus told you. Here are two important highlights of his visit below:
😊 Prime Minister Mohammed Shia al-Sudani confirmed from New York that the currency sale window will close at the end of this year, while revealing the government’s intention to establish a new bank that adopts the latest technologies. WOW! WOW! We have been waiting for this for decades. Now it I reality. Finally!
😊 Prime Minister Mohammed Shia al-Sudani expressed, on Thursday, Iraq’s readiness to enter into a partnership with American companies in the oil industry sector, revealing at the same time his government’s intention to establish a new Iraqi bank. This came during his participation in New York. Really now,,,, can the news get any better? Finally the US is engaging Iraq and seriously taking on partnerships, especially in the energy sector. So we know if the US is invested in Iraq something is up…. lol… lol… lol…
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/Coffee with MarkZ and Andy Schectman. 10/02/2024
STATUS OF THE RV, PART. 1 ; " WE WILL NOT SEE THE RV UNTIL AFTER NOV 5TH" , BY MNT GOAT, 2 OCT
STATUS OF THE RV
Welcome to October! Or should I say “Rocktober”. Get ready! 😊
Well, well, well it seems the kings of bullshitters TNT, Bruce, MarkZ and all you other idiotic intel gurus are wrong again.
Oh… is that such a surprise? Where is the RV as you have been saying it was all done, done and done and that it had to be rolled out by the end of September? Really?
Oh… but you said the same for May, June, July and August too. But what did Mnt Goat tell us?
I am telling you that I know with 1000% certainty we will NOT see the RV until after the Nov 5th voting . So please, please stop all this head banging and nonsense.
In a conversation with my CBI contact on Saturday I was told that if all goes well in the US elections, we can expect to see the preparation gearing to the reinstatement by the start of the project to delete the zeros and the swap out of the larger notes for the smaller denominations.
I was told this is now planned to begin shortly after the voting is over and the winners are announced. I was told we might have to wait for the inauguration ceremony to conclude to see the reinstatement occur.
I was also told that in reading many of the articles about the project to delete the zeros, that we see in the Iraqi news, to use a bit of discernment.
Many of them are negative based, as we can see the Iranian influence in these stories. Many economists also ill-informed and still do not see the big picture or realize the extent of the process and why it must be done.
She told me many still don’t even know the newer, lower denominations have been already printed and the coins stamped years ago. This is evident when you read or listen to their commentary.
I was also told to watch for yet more articles in the news about the project to delete the zeros but to be aware that ONLY the ones coming from her committee on this subject matter can be trusted.
As you know my contact works on the committee from the Central Bank and it has been given the task of ensuring a smooth process. I was also told that in late November or early December we will see the newer lower denominations and their pictures and features depicted on the CBI site. The ending of the currency auctions at the end of 2024 will also be signal to us that everything is moving correctly and we should see the IQD returned or reinstated back to FOREX in early 2025.
I know there is lots of gab out in the dinar community and people are already questioning the information given to me from the CBI on this matter.
Folks, I am only the messenger and trying to figure this out like everyone else. I do not need a crystal ball or to make things up. I certainly pray that nothing interferes with the process. I was told by my contact that this raging war in the middle east on terrorism, if extended to Iraq, could be an issue but so far Iraq is desperately trying to stay neutral.
I have read articles that try to tell us Iraq is going to support the terrorists against Israel and so how can anyone in their right mind believe this crap?...TO BE CONTINUED
Expert Proposes A Single Proposal To Confront The Decline In Oil Prices And Issues A Warning To Producing Countries, 2 OCT
Expert Proposes A Single Proposal To Confront The Decline In Oil Prices And Issues A Warning To Producing Countries
Baghdad Today - Baghdad Oil expert Haider Al-Batat warned oil-producing countries today, Monday (September 30, 2024), noting that shale oil production is more economically feasible.
Al-Batat said in an interview with Baghdad Today that "the rise in oil prices leads to a slowdown in industrial growth and a decrease in demand for oil, with an increase in the trend towards the use of alternative energy. This represents a threat to oil-exporting countries, and the main beneficiary of this situation is the United States of America."
He added, "US shale oil production is only economically viable when the price per barrel exceeds $65. If the price of oil falls below $65, US oil production becomes economically unviable."
He explained that "this will force America to reduce its production of shale oil, which will make the market need 10 million barrels of oil, and this will lead to an increase in demand for oil produced by OPEC member states to compensate for the gap resulting from the decline in American production."
The oil expert concluded by saying, “This scenario is the only solution to confront the decline in oil consumption and the shift to alternative energy.
It will also increase industrial growth, thus pushing oil-producing countries to increase oil production to keep pace with the increasing global demand. Thus, they compensate for the decline in price by increasing quantities.
This in turn increases the costs of using alternative energy, which is ultimately much higher than the price of fossil energy, leading consumers to turn away from it and continue to rely on fossil energy while developing and upgrading it to be environmentally friendly.”
According to the US Energy Information Administration, the United States has the largest recoverable resource of shale oil in the world, amounting to 78.2 billion barrels so far, followed by Russia with 74.6 billion barrels.
Although China is a relative newcomer to the scene, it holds a significant position with reserves of 32.2 billion barrels, contributing 7.7% of the global share.
Argentina, Libya and the United Arab Emirates also made the top ranks, indicating the diverse distribution of shale oil resources around the world. LINK
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Internal And External Debts "Exhaust" The Iraqi Budget, And Experts Diagnose The Reasons, 2 OCT
Internal And External Debts "Exhaust" The Iraqi Budget, And Experts Diagnose The Reasons
2024-09-30 06:37 Shafaq News/ The Iraqi government took a series of measures to reduce the external public debt from the financial surpluses achieved as a result of the rise in oil prices, and succeeded in reducing it. However, in return, the internal debt rose to exceed 70 trillion dinars to bridge the gap in financial liquidity and operating expenses.
Iraq continued to borrow externally after 2003, especially during the oil price collapse that coincided with security operations against ISIS in 2014, in addition to internal borrowing to cover the country's general budget deficit.
The International Monetary Fund said that Iraq's internal imbalances were exacerbated by the large financial expansion and the decline in oil prices, noting that Iraq needs to gradually correct the public finances to achieve debt stability in the medium term and rebuild financial reserves.
"Dead" Debts
Member of the Parliamentary Finance Committee, Jamal Kojer, said in an interview with Shafaq News Agency, "The external debt found in the reports available to us is a dead debt related to the Gulf War. These debts date back more than 30 years and countries do not demand them, so they are not real debts. If the Iraqi state demands their cancellation, they will be cancelled."
He points out that "the internal debt, which exceeds 70 trillion Iraqi dinars, is gradually increasing because the state's revenues are less than expenditures, and despite that, it is not a frightening debt."
According to official data, Iraq's internal debts amount to $50 billion, which are collected within the official and governmental financial apparatus, in addition to the existence of outstanding debts to eight countries, including Iran, Saudi Arabia, Qatar, the Emirates and Kuwait, amounting to $40 billion. These debts are questionable from Iraq's point of view and have not been written off, despite being subject to the Paris Club.
Low External Debt
In turn, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained in an interview with Shafaq News Agency, that "Iraq is considered one of the countries with very little external debt, as the total debts due do not exceed 10 billion dollars, and these have annual allocations in the federal general budget to extinguish them, and they must be extinguished by 2028."
"The external debt is the remnants of the pre-1990 settlements," he added, noting that "Iraq is considered to have high creditworthiness according to the classification of international companies such as S&P Global Ratings and Fitch, and therefore the external debt does not exceed 5% of the gross domestic product compared to the international standard that accepts debts up to 60% of the gross domestic product."
Saleh points out that "there are internal debts amounting to 76 trillion dinars caused by two financial crises, the first of which was between 2014 and 2017, which was the war against ISIS terrorism and the decline in oil prices, and the second crisis was the Corona pandemic, which led to the closure of global markets and a significant decline in oil prices, and thus large borrowings occurred."
He stresses that "domestic debt generally does not exceed 30% of the gross domestic product and is a debt within the government and not between the government and individuals or the market, and there are mechanisms to extinguish it within the government's financial and banking system, and therefore there are no risks."
Debt Is Not The Perfect Solution.
However, the economic expert, Dhurgham Muhammad Ali, sees the opposite of what the financial advisor said, and says in an interview with Shafaq News Agency, "The internal debts also pose a danger because they must be paid and must not exceed 50% of the country's annual gross domestic product."
He added, "Expanding domestic borrowing is not the ideal solution to cover the budget deficit, but rather it is an easy way to cover the deficit using primitive but effective methods, as long as they do not exceed the required limit, especially in light of the decline in financial inclusion and the low rates of bank deposits for the Iraqi citizen compared to neighboring countries."
He explains that "combating corruption and following up on Iraq's money that has been swallowed by corruption over the past years is slow and ineffective and faces obstacles and challenges, and recovering this money could pay off many internal debts."
Hard Currency
For his part, economic expert Hilal Al-Taan confirmed, in an interview with Shafaq News Agency, that "the internal debts do not have a significant impact on the Iraqi economy, and most of them are in favor of the Ministry of Finance, the Central Bank, and other ministries."
He believes that "the major impact on the economy is on foreign debts because they are settled in hard currency, unlike domestic debts, which are settled in national currency. The state must first reduce foreign debts."
The largest part of the domestic debt is owed to the Central Bank of Iraq, the Rafidain and Rashid banks, and the Trade Bank of Iraq, which lent the government large sums of money to cover the federal budget deficit. LINK