April 1, 2021 Mnt Goat News Brief
I bring you much news today.
GIVE A GIFT TO MNT GOAT
I decided to allow everyone to give a Free-will GIFT to Mnt Goat on PayPal if you so desire. Here is the link below.
As usual, remember that for going on 8 years now, I have taken my own time from my gasthaus business to research and document findings about the revaluation and reinstatement of the Iraqi dinar. At this time more than ever I do not need to spend my time babysitting and holding your hand in this investment. I do it out of understanding that all of us do have the time to go our and research. We are busy with our jobs and raising our children. So, I try to help out. But remember I too am very busy in my daily life running a gasthaus and trying to make ends meet. I am no different yet I take the time out each day to complete the task of my newsletter for you. I do not need to do it, as I know the information before you get it.
Summers usually are our busy time of the year here at the Gasthaus. Last summer was disastrous due to the pandemic. We almost had to close our doors forever. But many of you stepped up and helped out. We have exhausted our savings. Winter too is usually our second season but this year they are keeping this pandemic alive even though it is not a reasonable thing to be doing for practical sense and for health reasons. But they persist now evident only out of a lust for more control and power. The ski slopes are practically bare and the towns are very quite unlike all the years I have lived here. It is scary. The elders say it is like during the war even when Hitler came into power. You can almost even feel the evil surrounding us. I will tell everyone now that if this summer 2021 is as bad as summer 2020 we will not make it without some kind of help.
Please be generous but only if you can afford it and remember to give. I suggest $5-$10 a month but you decide. Whatever you can afford will be helpful in this time of Covid where nearly 80% of our business is now gone due to travel restrictions.
CENTRAL BANK GOVERNOR: IRAQ IS IMPLEMENTING ITS REFORM PLANS
Governor of the Central Bank, Mustafa Ghaleb Makhaif, confirmed, on Thursday, that Iraq is implementing its reform plans.
The Central Bank said in a statement that Mawazine News received a copy of, that “his governor participated, as a representative of Iraq, in the spring meetings of the International Monetary Fund.”
Frightening stressed during a speech delivered at the meeting, “Iraq is implementing its reform plans towards fiscal and monetary policy.”
He pointed out, “The Corona pandemic was and still is one of the obstacles facing the Iraqi economy despite the proactive measures that the central bank or the government worked on,” stressing, “the country’s keenness on international and regional openness in a way that serves Iraq’s economic and financial interests.”
THEY WANT THEIR MONEY BACK!
IRAQ BEGINS A PROCESS OF FINANCIAL REFORM TO PROTECT THE ECONOMY
April 3, 2021 Walter
Baghdad, April 3 (Petra) – The Iraqi government announced today, Saturday, the start of a financial reform process that will strengthen and protect the Iraqi economy.
Finance Minister Ali Allawi said in a video clip published by the ministry today, Saturday, on Twitter: “We started with reforms. We have started the process of automation, and reforms related to the currency and the exchange rate, as part of measures aimed at strengthening the Iraqi economy.”
In a new government promise, he added, the citizen will see an improvement in light of the results that will happen, in improving the performance of the state and employees, especially in the operations of citizens.
And he added that the state will transform from a state that complicates and obstructs, to a state that helps and serves, and all this will be done through the process of modernizing devices through responsible and efficient policies.
It is noteworthy that a strong popular opposition is facing the state’s policy of raising the exchange rate of the dollar against the Iraqi dinar by 148 dinars per 100 dollars.
BIDEN ORDERS THE WITHDRAWAL OF AMERICAN FORCES AND EQUIPMENT FROM THE MIDDLE EAST
An American journalist said that President Joseph Biden had ordered the withdrawal of American forces and equipment from the countries of the Middle East.
The Wall Street Journal quoted US officials as saying, “Biden has ordered to begin withdrawing some troops and equipment from the Middle East.”
The Wall Street Journal added, “The step comes within the framework of reorganizing the military presence in the Gulf and the Middle East.”
She indicated that “3 (Patriot) missile batteries were withdrawn, one of them from Prince Sultan Air Base in Saudi Arabia,” noting that “the Pentagon is looking at the equipment and training that Saudi Arabia needs.”
And the Wall Street Journal pointed to “diverting military parts, including an aircraft carrier, from the Middle East to meet needs in other regions.
(Mnt Goat – here we go again. Didn’t Obama do this in 2011? Did we learn anything? So we know who the puppet master really is now. Just as Trump was beginning to stabilize the situation in the middle east for lasting peace and not temporary peace through appeasement.)
US EMBASSY: IRAQ MUST MOVE FORWARD TO ACHIEVE PROSPERITY AND SECURITY
Erbil-Al-Sharqiya, April 2: The United States confirmed, through its embassy in Baghdad and its consulate in Erbil, that approving Iraq’s budget for the current year is an important step towards economic and security stability.
The US Embassy in Baghdad said that Iraq must now move forward to implement economic reforms to achieve greater prosperity and security.
For its part, the US Consulate in the Kurdistan region said that reaching an agreement on the budget law should lead to the consolidation of better relations between Erbil and Baghdad and to achieve a more stable economy for the country.
PARLIAMENTARY FINANCE: THE BUDGET WILL BE APPLIED AND IMPLEMENTED RETROACTIVELY FOR THE PAST MONTHS
On Sunday, a member of the Parliamentary Finance Committee, Muhammad al-Shabki, stated that the budget will be applied and implemented retroactively for the past months that were not enacted, pointing out that the budget must be effective from the first of last January.
Al-Shabaki said in a press interview, that “the federal budget for 2021 is supposed to be published in the Iraqi newspaper Al-Waqae ‘after it was decided by Parliament and voted on in general.”
He added that “the budget is considered effective from the first of January of the year 2021, despite the parliament voted on it on the 31 of last March.”
He explained that “the budget is applied and implemented retroactively for the past months, after Parliament voted on it after exceeding the specified date for its implementation.
Formal Articles are below. Due to FACEBOOK limitations they do not print my RED colored fonts or italics, so my comments are in brackets ( ) throughout the articles. I will preface my comments with “Mnt Goat” so you know I am jumping in with observations. Also, I separated the articles with asterisks.
he currency window started out as a temporary measure.
The central bank is holding a daily auction (window) for the sale of foreign currency to banks, a measure taken after 2003 to raise the value of the dinar, which was collapsed in the 1990s, because this measure was proposed to be temporary until the currency stabilizes, and according to the advisor of the Iraqi Institute for Economic Reform, it was to not continue the window selling the currency, to stabilize the dinar against the dollar in subsequent years, but continued nonethemore.
“It is the central bank’s duty to stabilize the exchange rate by receiving the proceeds from the sale of oil in dollars, and pumping the dinar to the Ministry of Finance in return, to support the approval of the budget, especially operational ones,” Chancellor Hussein al-Khaqani told Al-Sabah.
“Before 2003, the central bank was not working on this measure, but the circumstances that followed that year necessitated the central bank to take a temporary measure that would raise the value of the dinar, which was very low against the dollar, and this was the opening of a window for the sale of the currency, in which banks participate until a balance in the market and the adjustment of the exchange rate,” al-Khaqani said.
“The central bank receives two reports (morning and evening) on the prices of basic items (food) within the daily market movement for the purpose of supplying or reducing the supply of the dollar, in the currency exchange window, accordingly,” he said.
“The central bank’s current dollar is down significantly from about 200 million dollars a day to much less, especially after the recent exchange rate adjustment on the dinar,” he said.
According to a statement issued by the central bank, its sales of foreign currency, on Tuesday, reached 25 million, 905 thousand and 199 dollars with the participation of seven banks to meet the demands for the strengthening of assets abroad, and the central noted that data on foreign currency sales are sent to the General Authority for Taxation at the end of the fiscal year, and the central point that “the classification of banks and companies depends on the level of compliance with the rules and standards of compliance with the anti-money laundering and terrorist financing law No. 39 of 2015, and the instructions of the Central Bank on the sale and purchase of currency, and does not represent, and does not represent, Rating is an assessment of the performance of banks that are subject to other international standards.”
For his part, banking specialist Samir Al-Nassiri suggested that the Ministry of Finance implement the window of sale of the currency under its supervision and the evacuation of the central bank’s responsibility from it.
Al-Nassiri told Al-Sabah that the proposal would be to take over the Iraqi Bank of Commerce, its subsidiary, and the central bank’s role in the currency sale window, by transferring the revenues of the ministry’s sales of crude in dollars to the Ministry of Finance in dinars, and the deresponsibility of the central bank.
The recovery of the currency market in Iraq
The unanimous vote of the Iraqi Council of Representatives, the day before yesterday (Wednesday), on the Federal Budget Law for 2021, left a general impression of satisfaction at the official and popular levels, as it ended many months of disagreements and quarrels between the political blocs, as well as the effects of the lack of approval of the budget on the movement And the market and trade, which showed signs of returning to activity, yesterday, through the relative rise in the movement of buying and selling currencies.
Traders in the stock market in the Shorja area in Baghdad told Asharq Al-Awsat that “the market witnessed good movement and the price of the dollar rose slightly against the dinar, as a result of approving the budget.” They attributed the reasons for this to that “traders and even ordinary citizens had expected that the decision to reduce the value of the dinar against the dollar, which was approved by the government last year, would be reversed. However, the approval of the budget while the exchange rate remained in a state encouraged the return of market movement to normal.”
While the presidents of the Republic, Barham Salih, the ministers Mustafa Al-Kazemi and the rest of the heads of the political blocs welcomed the approval of the law, the governmental and political leaders in the Kurdistan Regional Government seemed the most happy to overcome the budget obstacles in order to vote on them, given the marathon of negotiations conducted by the Kurdish delegations in Baghdad to install the right of the region in the budget that collides With the objections of many political and governmental parties in Baghdad as a result of disagreements with the authorities of the region, and within them, their lack of commitment to hand over to the federal government the share of 250 thousand barrels of oil per day established in the federal budgets during the past years.
In addition to the region’s success in negotiating, the issue of approving the budget represents a “lifeline” for Kurdish leaders and leaders, given the severe financial crisis that the region has been suffering from for years, during which the authorities were unable to pay the salaries of their employees for about 6 months of each year with the imposition of high deduction rates that reach To 25 percent of the value of the salary, which exposed the regional authorities to harsh popular criticism that prompted citizens and employees in some provinces to demonstrate and declare a strike for work.
The numerous statements issued yesterday on the governmental and political leaderships in Erbil showed the extent of the relief left by the approval of the federal budget, where the President of the region, Nechirvan Barzani, congratulated the Iraqi people and the Presidency of Parliament and his deputies, as well as thanked the efforts of Prime Minister Mustafa Al-Kazemi in “easing differences and achieving agreement.” He thanked the efforts of the Kurdish delegation negotiating with Baghdad.
Barzani added in a statement that “for the purpose of solving problems, achieving stability, urbanization and a better future, Iraq needs joint cooperation and joint action, and we must all support this trend.”
He expressed his “hope that all parties abide by the law, and ratification of the budget can become a good start and an incentive to solve the rest of the problems of the Kurdistan region and the federal government, and the implementation of the law will lead to the strengthening of the political process, coexistence and the consolidation of the right of citizenship for all.”
And the former president of the region and leader of the Kurdistan Democratic Party, Massoud Barzani, expressed his satisfaction with the approval of the budget and said in a statement that “approving the budget is a positive step in the right direction. We hope that it will be the beginning of strengthening the principles of dialogue and peaceful coexistence and re-establishing the foundations of true partnership between all Iraqi components.”
And he hoped the President of the Kurdistan Regional Government, Masrour Barzani, that the approval of the federal budget pave the way for “recovery from the era of difficult economic challenges.” He said in a statement that “the full application of the law will do justice to the two governments over financial disputes since 2004.”
He added, “I spoke with Al-Kazemi, thanked him, and called for him to fulfill the obligations of the budget law.” Barzani believed that the Federal Budget Law “restored a glimmer of hope about the relationship with the federal government.”
Under the budget law, the region has an obligation to hand over the federal oil company “SOMO” 250,000 barrels from its oil fields and the extra production that the region spends on its local needs, extraction and transportation wages, in exchange for the region’s financial share determined in the federal budget. The region is also obligated to hand over half of its non-oil financial revenues to the federal government.
The budget law also approved the “settlement of (financial) receivables between the federal government and the Kurdistan region for the years from 2004 to 2020 after the two federal financial control bureaus in coordination with the region’s supervisory bureau audited them.
A deputy calls for an emergency session and sends a warning to the governor of the Central Bank
MP for the Badr Parliamentary Bloc Uday Shaalan Abu Al-Joun called, today, Friday, the Presidency of the House of Representatives to set an urgent date for an emergency session in the presence of the Governor of the Central Bank to find out the repercussions of high market prices due to the insistence not to reduce the exchange rate, warning against interrogating the governor The Central Bank, as a prelude to his dismissal, in case it sticks to its positions that are not in the interest of Iraq and its people
Abu Al-Jun said in an interview with Alsumaria News, “The Al-Fateh Alliance in general and the Badr Bloc, especially when it participated in the voting session on the budget, despite its reservations on many of its articles, especially with regard to the exchange rate of the dollar against the dinar, it was a matter of paying the greatest damage in order not to say that we obstruct Passing the budget that the Iraqi people have been waiting for so long
Abu Al-Joun added, “Today, after the budget has passed, this matter does not mean that the exchange rate has become a thing of the past and will not be reduced. Rather, we will work continuously to pressure the executive authority and the Central Bank to reduce it and take immediate measures to address the economic crisis and the rise in prices in the market,” pointing out that “” And within the first steps, the Presidency of the House of Representatives is required to hold an emergency session as soon as possible in the presence of the governor of the Central Bank devoted to discussing the exchange rate and the reasons for the central bank’s insistence not to reduce it.
He stressed that, “In the event that the governor refrains from attending the session or his answer is not convincing, then we will work to pressure to question him, and the national forces within the parliament must stand with the Iraqi people and not with the parties benefiting from the central bank’s confusion, and the oath is preserved and moral and legal responsibility is not shied away.
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
In ending I want everyone to know your constant prayers in the fight against evil is working in the battle against the corruption of Iran in Iraq, the corruption of the democrat party in the USA and the corruption of the labor party in the UK. Yes, your prayers ARE WORKING. God has guided these patriotic men and women on this new battle field. It is a battle for the mind filled with propaganda and lies. He has guided the honest, patriots of Iraq, the USA and the UK to fight for their homeland.
So, this new war now on our citizens is underway. 3 corrupt countries, 3 heroic men and 3 miracles. God’s Hand At Work!
New battles are raging every day over corruption. These are battles to save our societies from the corrupt politicians and secret societies who are bent on taking what they want from our current wealth and from future generations without our permission. It is a battle against this crooked idealism of globalization and a One World Government of enslavement.
We must keep praying for the end to the rapid corruption and enslavement of people. We must pray for our leaders that they may be anointed by the Holy Spirit and guided to do God’s work. We must stand by them and let them know we are still there to support them, even after the election is over. I have composed a prayer maybe we can all pray today in our own way and until the reinstatement of the Iraq dinar occurs.
“For all leaders of all nations, that they may be anointed by the Holy Spirit to do God’s will and work to bring about abundance and prosperity to their nation. That they may listen to the Holy Spirit for guidance in fighting this war on us, our minds and our children.
To fight this waging war on corruption, our freedoms, our liberties, socialist plans and injustice.
To bring all those corrupt to justice and pay for their crimes no matter how high up in the government or politics they are.
To end the corona virus “man-made crisis” and to awaken people everywhere of the dark side and the tools it will use to gain power and control.
That the FREE WORLD may be a shining example for the rest of the entire planet.
In the name of Jesus Christ our King and Savior, Amen”
P.S. (Please if you can – say the rosary every day. You can do it while you take your daily run or walk. You can do while you lie in bed in the morning or nighttime before sleep. You don’t even need a set of rosary beads as you can use your ten fingers …lol..lol..lol… 😊 )
Much love to ya all,