November 16, 2016
Hi Everyone, WOW! We have reached mid November already.
There is so much news and it all points to many things for the betterment of Iraq. Many of you, as investors, had to deal with the 8 years of the “do nothing” Nori al-Maliki years and so you are very discouraged from this time period. I assure you this is not the case any longer.
How can you now deny all the very good news. Is this not what we have all been waiting for so long?
Just look at Iraq now compared to in 2014. What progress they have made. Sure they still need to get rid of ISIS / Daash and implement the “Reconciliation Agreement” and many others but at least now they are moving FORWARD and at a very fast pace. At some point it will culminate with the RV but getting there is half the fun....lol...lol...
So all this news is what is going to get us to the RV. Get it?
I also want to point out quickly that India rupee has not RV’d nor has the start of any global currency reset ( of course there is no such thing as a GCR in the first place so how can it ever happen anyhow ..lol..lol). This is once again so called “intel guru” is making something out of nothing to suit their own purposes...so relax.
Is it just ignorance or are they serious? Be careful when you read their posts in the forums. They often change the headings to hook you and get your attention. You must open the post and read it for yourself or better yet click on the news link and read it for yourself because now even they change the contents of the article to lie to you.
So today let us look at some “realistic” articles and study the truth about what is happening in Iraq in this last period. Remember - No Rumors, No Hype, just the FACTS! I may express my opinion and knowledge in italic RED but I am telling you this is my opinion from everything I know and study from the last 10 years in his investment.
Sadr is ready to cooperate with the United Nations to eliminate Daesh “ideologically and militarily” in Iraq
Twilight News / met the cleric Moqtada al-Sadr on Tuesday, the Special Representative of the Secretary-General of the United Nations Mission Jan Kubiš in the holy city of Najaf.
According to a statement issued by Sadr’s office during the meeting to discuss the humanitarian situation after the expulsion Daesh from Iraq.
Sadr demanded the necessity of activating the role of the United Nations in Iraq and expressed full readiness to cooperate with the United Nations regarding the UN role in Iraq and the fight against terrorism and ways to eliminate it intellectually after a military defeat.
He also called for “national reconciliation should not be politicized but must be reconciliation popular social parties are determined objectively and accurately.”
For his part, Jan Kubiš “We support and we thank and appreciate the reform movement and popular movement you are doing and that of the most important factors defeat Daesh is to carry out reforms and we consider you as the backbone of the reform process in Iraq and here look with you the ways and the factors that contribute to the stability of the country and serve the citizens,” he said.
During the meeting to discuss the upcoming elections and the need for legislation to file a new election law guaranteeing the right of the voter and the candidate and work to change the current Electoral Commission where he said, “The United Nations will support the National your options chosen by the Iraqi people.”
(so we find out that based on all the corruption of the last elections, they are concerned and want new legislation as an election law in place prior to 2017. Do they need this to RV? I believe they will try to get this in place prior to the end of the year. The provincial elections are in 2017 and will come up really quick. Next are the major elections in 2018. They don’t want the likes of corrupt Maliki and his goons getting into any powerful positions again. This new law, along with the “parties law” is going to set the stage for the next set of elections and will also set the tone for getting rid of the Dawa party out of the National Alliance altogether.)
Urgent Abadi: make minor adjustments to the 2017 budget and submit it to parliament
Announced Prime Minister Haider al – Abadi, the Council of Ministers made changes “minor” on some of the legal provisions of the draft budget for fiscal 2017 Act and submit them to the parliament again.
(remember they already had the required two readings and are planning to vote on the budget on 11/26. It sounds like it is ready now?)
Central Bank confirms that the measures granting loans to citizens, “simple”
Central Bank of Iraq, announced Tuesday, for the distribution of 500 billion dinars (about $500 million in USD value), housing loans to citizens, noting that the interest rate is “very low”, as pointed out that the granting of loans measures “simple.”
The general director of financial operations at the Central Bank of Iraq, Mahmoud Dagher in a press statement, said that “the Bank since the beginning of this year, took the initiative in offering a huge financing package estimated at five trillion dinars, divided between the Land Bank and the Housing Fund, as it gave each bank approximately 800 billion dinars.” , adding that “the remaining section of the industrial Bank and the agricultural Bank.”
He said Dagher, that “the Land Bank distributed 100 billion dinars, and the Housing Fund distributed 400 billion dinars in loans to citizens,” pointing out that “the loan ceiling of 50 million dinars (or about $50,000 in USD value) at a rate of very low interest does not exceed 3 –4 100%, and therefore constitutes a grant element to the borrower. “
He said Dagher, that “borrowing conditions is the existence of a piece of land suitable for the construction and sponsor of the citizen who wants to withdraw the loan amount.”
And on some late citizen to receive a loan for several years, Dagher explained that “this delay can not happen unless there is a specific problem faced by the treatment of the citizen which is in arrears in receipt of the loan,” pointing out that “the granting of the loan simple measures.
(why is this such good news today? It is very good news because it is showing us that Iraq is moving in the direction resembling normal, civilized societies and finally they are enabling investors and trying to kick start the economy and this is just another part of it. Getting foreign investors to invest in a housing market does no good unless you have consumers to buy the product. So the government is investing (thru the CBI) in the market since bank liquidity is low and the private banks have a difficult time financing the housing market. Of course this on the other hand is not very good and also gives us a bad signal too in that Iraq still needs the flow of money to happen through the private sector and not just the CBI)
Abadi adviser suggests the development bank to finance private-sector trade and calls for the central bank to study proposal for line of credit
Long-Presse / Baghdad
Financial advisor to the Prime Minister suggested that the appearance of Mohammed Saleh, on Wednesday, the development of a commercial bank to finance private sector trade by opening letters of credit, rather than transfers, while calling the central bank to study the proposal, stressed that the Iraqi dinar exchange rate in the parallel market rate exceeds the central bank's ten price points.
He said the appearance of Mohammed Saleh said in an interview to the (long-Presse), said that "the Iraqi dinar exchange rate in the parallel market rate exceeds the central bank's rate ten points and the overall level of prices in Iraq remains stable, despite the presence of two prices for the disbursement of the dollar," noting that "the difference is not reflected strongly the general price level basis, inflation is still a level of two percent, the lowest in the history of Iraq. "
He attributed the favor, reasons that "Iraq imports from dollar areas of the world as East Asia, which suffered from depression in the goods", suggesting "the development of a commercial bank to finance private sector trade contribute to the civil and government banks to finance trade by opening letters of credit, rather than transfers."
Financial advisor Ebadi pointed out that "everyone will benefit from this bank and we will get rid of the speculators and speculation, accusations and controversy that never ends," calling on the central bank to "study this proposal."
(the financial advisor is recommending to the CBI in this article is to get rid of the currency auctions, (he calls them transfers), and instead use “letters of credit” to finance trade with the outside world. Remember Iraq is operating under sanctions in a closed economy. The “two prices” of the disbursement of the dollar he is referring to includes the market exchange rate vs the currency auction rate. He goes on to say the market rate is 10 points above the currency auction rate and by having letters of credit instead of currency auctions to get the dollar to pay outside debts, they can begin to bring these two rates closer together to one common rate. Folks this proposal is NOT new. They have kicked this can down the road before. The CBI maintains they need to control the dollars more tightly and do not favor letters of credit. This has nothing to do with the RVor the launching of the lower denoms, just so you know.)
Kirkuk, Kurdistan receives from $ 80 million a peer petrodollar
Twilight News / announced the head of the Kirkuk Provincial Council-and Kalh- Rebwar Talabani, received the amount of more than $ 80 million share of the petro-dollars.
Talabani said in several Building Council press conference, "We have received the amount of the Kurdistan Region through meals."
The Kurdistan Region and Kirkuk oil is, and export it towards the port of Ceyhan, which usually has an average of 150 thousand barrels per day. While it is producing fields in the region of about 500 thousand barrels a day.
He added that the Council (council of ministers) decided to allocate a sum of the petro-dollar budget for a month to pay teachers' salaries arrears from the province of Kurdistan in Kirkuk, schools and the formation of a joint committee of the relevant Board of Directors and the Directorate of Kurdish study to examine the mechanism of implementation of the resolution and put controls in this regard and to find a radical solution to this segment.
(this is nothing more than the federal government of Baghdad paying the allocation of oil revenues to Kurdistan under the HCL agreement. It is also telling us that Article 140 is being enforced since the money is going directly back to the Kirkuk region and is from Kirkuk oil. They even said it is money from the 150k barrels/day of oil from Kirkuk vs 500k barrels/day from the Kurdistan region. So this news is all very good. But we still look for the official HCL to be passed in parliament into law)
I know the CBI decision is to remove three zeros from the currency of Iraq beginning in 2017. They themselves have told us now over and over again and just recently again. Today is less than a 1 ½ months from this time period.
I have waiting for this period since the CBI first announced in December of 2015, that they would postpone the project to delete the zeros till early 2017. Oh… but many of these so called “intel gurus” said I was crazy then and they would never wait that long. Once again so who is correct and who is wrong.
But of course they will counter claim it doesn’t matter who is right and who is wrong and that we all should be in this together to try to figure it all out together. I could not agree on this point more.
However I do not want to be in it with them. No – I am not part of them. We are not in the same category nor do I ever want to be asssociated with them. I have tried over and over again to reason with them and to help them gather information and analyze it. But they are persistent.
Their words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,