AL-ALAQ: THE MONETARY SITUATION IN IRAQ IS EXCELLENT AND OUR RESERVES SUPPORT THE STABILITY OF THE EXCHANGE RATE
The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Monday, that the monetary situation in Iraq is very excellent, noting that “the increase in the volume of reserves enables us to support the exchange rate and achieve monetary stability.”
Al-Alaq added in a press statement that the Central Bank is distinguished by its ability to “respond to providing the country’s needs for currency,” indicating that “foreign transfers for trade purposes are proceeding smoothly after the implementation of the new system.”
Al-Alaq revealed that “the Central Bank will launch a new mechanism for travel or treatment transfers next year,” stressing that “there are agreements with four companies to launch a new mechanism for travel or treatment transfers.”
😊You might want to take a look at the article titled “PLANNING: ANNOUNCEMENT OF PRELIMINARY RESULTS OF THE GENERAL CENSUS IN IRAQ WILL BE NEXT WEEK” In it it describes the three phases of the census. Good read!
This census taking has VERY LITTLE to do with the HCL individual Oil revenue sharing/distribution folks. Again, just more guru talk by the idiots. Just another single guru event that they try to focus on to get your attention to go to their sites and conference calls. Yes, they think you are dumb and gullible!
😊Having said my commentary about the census taking I want t address an article titled “THE EUROPEAN UNION ORGANIZES A WORKSHOP IN BASRA ON CENTRAL ADMINISTRATION AND THE WEALTH DISTRIBUTION SYSTEM” Yes, it’s all related. The European Union organized a workshop in Basra on central administration and the wealth distribution system. Basra Governor Asaad Al-Eidani stressed during the workshop that the distribution of wealth has limitations for the poorest areas as well as areas with high population density, in addition to areas that were damaged by the wars that Iraq witnessed. So, what does this article tell you?
This tells you that the GOI has to now change the monthly payments of the regions of Iraq based on the results of the census.
Coincidental that this article comes out on the heels of the census results. I know the words Wealth Distribution System also got my attention, but if you really read the article. Yes, take the time to read the article and not go off half-cocked creating HCL payment rumors, you would know the FACTS of what they are saying and why they use the terms Wealth Distribution System. The article is NOT using it on a personal level but rather on an overall level of how much the GOI has to shell out each month of the oil revenues to help these regions survive. The money goes to the local regional government to provide services to the public. Get it? This is NOT individual wealth payouts. Get it?
This will continue to be paid to the regional governments until they can roll over many of these government jobs from the GOI payrolls into the private sector. Then sometime in the distant future, maybe the GOI could suggest an excess oil wealth distribution on a scale at the individual level. But certainly not now. If you truly read the Iraqi constitution this process is clearly spelled out.
MEPS24: US CONSUL IN ERBIL HIGHLIGHTS PROMISING ECONOMIC OPPORTUNITIES FOR IRAQ
On Saturday, Steven Bitner, the US Consul General in Erbil, spoke about the “economic opportunities” that will bring significant benefits to both Iraq and the United States.
During a panel discussion at the Middle East Peace and Security Forum (MEPS24) at the American University in Duhok, the Kurdistan Region, Bitner stated that “the strategic agreement between the two countries encompasses various aspects, including economic, cultural, health, and environmental cooperation, as well as strengthening mutual relations.”
“For the past twenty years, security and political concerns have dominated the relationship between the United States and Iraq
. However, recent efforts have focused on economic opportunities that will benefit both countries,” he noted.
Notably, MEPS24 features participation from the President of Iraq, the Speaker of the Iraqi Parliament, the President of the Kurdistan Region, and numerous local, Arab, and international officials.
Organizers of the two-day forum emphasize that it includes panel discussions, seminars, and workshops on the situation in the Middle East and the world. “The forum aims to build bridges of cooperation between participating countries, discuss problems and solutions, and explore the role of society in the Middle East.”
Before I forget to tell my followers, again I want to remind you that there will not be a Newsletter for Thursday Dec 5th. There is other important very urgent work that must be completed during that timeframe. I will publish the Tuesday Dec 3rd as normal.
We must all remember that we must make a “monthly” contribution to keep this Mnt Goat Newsletter alive. For me it is like a third job for and takes time to research and put it all together. Please decide to help out or we will lose the Newsletter.
I also next want to say Happy Thanksgiving to everyone in the USA. In Germany we already celebrated Thanksgiving more on terms of a harvest fest earlier in the fall, but the same, just the same. We do sit and share a meal with family and friends too but don’t necessarily eat a turkey dinner. Yes, I do miss those turkey dinners from when I was in the USA. Mein loving hubby always tries to surprise me with a turkey during this timeframe and so let’s see if he continues this again this week. He is a very thoughtful man. He remembers my American traditions.
So, where are we in this RV saga?
The RV has NOT yet happened. There are NO newer lower denominations passed out. Why would there be as they would only be almost totally worthless anyway without at least the in-country RV. No, the ATMs do not yet have the new lower denominations in them since the public uses these ATMs every day to get petty cash. What the hell would they now do with the lower denominations? I wish these stupid intel gurus would clean up their act and stop lying to people about these ATMs too. Do these intel guru do more harm than good to our dinar community?
Please let me know how you feel.
I also want to bring out yet another intel guru phenomenon. They are now telling their gullible listeners that the census is going to launch the HCL and will cause the RV to happen. Really? How ignorant to pretend you know so much and yet so little.
In the study of the recent Iraqi census taking, if you have been reading my articles in my Newsletter, you can clearly see the recent census was a national census taken with the help of the United Nations (UN). The UN every so many decades takes a global census to determine the world’s population and demographics. Iraq is also going to use this census as part of the Article 140 distribution of the Kurdistan monthly payments of oil revenues to the region from the GOI. It will also help resolve part of the Oil and Gas law.
Note, I did not say excess oil revenues or oil wealth distribution. So, Iraq is really districted in two main regions. The southern half where the government of Iraq runs the country called the federal Government of Iraq (GOI) located in Baghdad, the capital. Then the second main region up in the northern region of Kurdistan, where basically all the oil wells are located. Two distinct regions but yet one national country of Iraq. The government by constitution is representative positions of all the secs including the Sunnis, Kurds and the Shiites. Teh GOI by its prime ministers office interface with the public and the outside world of politics.
How would the GOI then know how to compensate the Kurdistan region and in particular this new region of the formerly disputed regions (Article 140), if they don’t know the population?
Article 140 has always dictated these regions would come under the Kurdistan authority. Settling Article 140 will also settle the many legislative disputes when in the past the Kurds refused to pass bills in retaliation for not getting their full share of the oil revenues, especially from being responsible for these disputed regions. But officially the constitution dictated a census to be taken to designate it under the Kurds. So, these areas where only proxy Kurdistan regions until the census was taken.
Thi is why the GOI never wanted to pay for these regions. So, now since the census is taken, the GOI can legally compensate and prove why they are compensating the amounts to the Kurds. This is really WOW! news for us today. Don’t you think? By finally settling this issue of Article 140 the GOI should run much more smoothly in the house of representatives. In fact, they told us there are now going to even be more seats in parliament now based on this census results. It’s all so good! Yes- Wunderbar!
Census taking: How many people eligible to work? What occupations and skills? How many children? How many retirees? Age groups, etc., etc. So, you can see how this census results would also be useful in rebuilding the Iraqi economy besides Article 140 and HCl disputes. It was way overdue. This is yet another sign to us investors that Iraq is now serious about moving ahead.
NETWORK REVEALS THE FATE OF THE CHINESE DEAL.. IT WAS DISRUPTED BY “IRAQI OFFICIALS” – URGENT
The Diplomat Network revealed in a report published today, Saturday (November 23, 2024), the fate of what is known as the “Chinese deal” under the Belt and Road Initiative launched by China to invest in Africa and the Middle East, confirming that the deal was “deliberately obstructed” by local Iraqi officials.
The network explained, according to what was translated by “Baghdad Today”, that some influential officials in the Iraqi government have begun to view with “concern” the increase in Chinese influence inside Iraq to unprecedented levels, stressing that “some Iraqi officials are concerned about the increased reliance on foreign investments to build Iraqi infrastructure, which weakens Iraq’s ability to make its strategic decisions.”
She continued: “The Iraqi government, like the rest of the Middle Eastern countries, is trying to maintain a difficult balance in its relations with the West and the East, in addition to maintaining its ability to make its strategic decisions with complete sovereignty, which may conflict with the presence of significant foreign influence on the Iraqi infrastructure sector internally,” according to her description.
The network also confirmed that the United States of America also views the growing Chinese influence in Iraq with another “concern”, explaining that the United States has spent about 90 billion dollars on Iraq since 2003, and thus has great influence on the Iraqi strategic decision and therefore opposes the growing Chinese influence inside Iraq, which is a competitor to its influence
.
The Diplomat pointed out that the Chinese deal, which was concluded in 2019, included China rebuilding the infrastructure in Iraq with an investment of up to 10 billion US dollars, and in return the Iraqi government committed to giving China 100,000 barrels of oil per day for free for twenty years, which some local leaders in Iraq see as the country’s heavy reliance on China to implement and operate infrastructure projects, which leads to giving China influence over Iraqi strategic decisions, according to the statement.
It is noteworthy that Chinese officials confirmed to the network that the deal has been “temporarily suspended” due to the position of Iraqi officials, as some of them confirmed that China will try to “provide reassurances” to the Iraqi government during the coming period to begin implementing the deal, which the network described as “controversial” in Iraq.
(Remember post RV Iraq will also be on the hook to sell oil to the US at a fixed, low price for the next 30 years (oil credits from our exchanges). This is in part how Iraq is going to pay for the exchange of currency on revaluation. But this oil is not FREE as with China.)