September 3, 2024 Edition Mnt Goat Newsletter (2024)

ABOUT THE NEWSLETTER:

September 3, 2024

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Going on over 10 years now, I have taken my own time 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 be doing this. I do it out of charity and love with understanding that all of us do NOT have the time to go do our own research. We are busy with our jobs, our daily lives and raising our children. So, I try to help out. But remember I too am very busy in my daily life too. I am no different, yet I take the time out each day to complete the task of research and composing my newsletter for you. This Newsletter will not survive without your ongoing support. There are 20,000+ followers and readers on my blog, But why do just the same handful only help out? Do the rest of you not want or care about the news I bring? I suggest $10-$20 or whatever you can afford but only if you can afford it. We must not let this blog die. The TRUTH must come out about this ongoing RV saga. The constant lies must end!

Did you happen to miss the last couple Newsletters? Click here to go to Mnt Goat Archives.

You can see the entire Mnt Goat Newsletter Blog HERE. There is much more amazing news and RV information than just the bi-weekly newsletter.

2 Corinthians 9:7

Each of you should give what you have decided in your heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.

STATUS OF THE RV

Hello everyone. So, today is Wednesday and I wanted to talk with my CBI contact in Iraq before publishing this Newsletter. This will happen later today but for now I am publishing what I have for news. I have to tell you it is “WOW!” news.

You know what? I really hate to continue with “I told you so news” or better yet “they told us so news”. But this is the news today. Yes, Iraq told us all about how they fully intend to get back the “glory days of dinar” and so they are doing it. Yes, simply put, they are doing it. But let’s stop all this idiotic intel from this guy TONY TNT and Bruce Big (stupid) call bullsh*t, and put the pieces of the puzzle together. I allude to a puzzle because at this point the pieces are all aligning so nicely. We don’t have to speculate or make up stories, but instead just let it flow out. Again, I say it’s all about implementing the Financial Reforms and then comes the Project to Delete the Zeros followed by the Reinstatement. You can’t do one without the other. You only have to get off the roller coaster, settle down and THINK what is going on. I can almost predict now when Iraq intends to reinstate their dinar. On Wednesday I will make my weekly call to Iraq for an update, stay tuned in.

Here is a short video clip of just what corruption still remains in Iraq. They must deal with this corruption. It stems from political members.

But NO, the RV has not yet happened and it certainly “is not all done” as many of these idiots are telling you. If you read the news this period you will it is still about the electronic banking to secure the dollar and dinar from the hands of the corrupt and the black market. They need to know where all the money is going and who has it. They still also need to flush out the hoards of stashes of cash outside the banking system too. This will not and cannot happen to the level they want until the “official” price of the dinar is over the dollar. Has this happened? What event will facilitate this? So please Mr. intel idiot guru don’t tell me “Its all done”. That is a stupid statement and only shows ignorance.

Let’s all get a nice hot cup of your favorite tea, coffee or other relaxing beverage and join me today as I explain what I mean by today’s WOW! WOW! WOW! news.

Folks, the path to the reinstatement is crystal clear. Can you see it too. So, take what we learned just in the last 9 months and you can see the writing is on the wall. I don’t say this lightly either. We are just about there. But first things first.

Now can you remember I told you as we near the elections in the US this current crooked administration of the Biden and Harris must first be dealt with. Also there still are some loose ends that need to be “tidied-upped”. We are just about 66 days away to Nov 5th. This is a pivotal election in many ways. So now as we get closer to the US election cycle, these other issue become more and more important. THE PUSH IS ON!

😊 One of the loose ends is the much-needed amendments to the Iraq Investment Law. They told us in an article that the WTO requested some changes to the law. In this same article, they told that this was the ONLY issue holding Iraq back from full accession. It has been months and months already since they told us this law was needed in an article. So, what pops out in the recent news. The article is titled “PARLIAMENTARY ECONOMY COMMITTEE DISCUSSES AMENDING THE “INVESTMENT LAW”.

The Iraqi legislative arena is currently witnessing intensive discussions about the fourth amendment to Investment Law No. 13 of 2006, as amended, in light of the significant expansion of investment activity in the country in recent years. So we may see this law very soon. Then the WTO.

😊 Next yet another WOW article is the one titled “CENTRAL BANK DISCUSSES IN WASHINGTON THE RE-INTEGRATION OF BANKS BANNED FROM THE DOLLAR”

The Central Bank of Iraq discussed in Washington the re-integration of banks banned from the dollar, in addition to contracting with electronic payment companies. regarding the visit of the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to ​​the United States of America, in which he said that the delegation discussed the use of electronic payment cards and ways to organize and stimulate their use in line with Iraq’s trend towards electronic payment.

This came “during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) presented an extensive analytical presentation of the uses of these cards, supported by recommendations and proposals to enhance organized use and accommodate the significant increase in citizens’ use of these cards.”

The statement added, “The parties gathered during the negotiations praised the important steps in enhancing the banking sector reforms, the most important of which is the contract that the delegation of the Central Bank of Iraq concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of banks’ procedures in line with international.

I told you that we would hear of the results of this meeting soon. And so here it is and it all sounds promising/ They need to restructure these banks. They need to buy and sell foreign currency, including the US dollar.

😊 Next there was an article titled “CBI LAUNCHES NEW PHASE OF INTERNATIONAL TRANSFERS”. On August 30^th, Shafaq News told us the Iraqi Central Bank (CBI) delegation in New York has announced the commencement of a new phase in international transfer operations, involving 13 Iraqi banks. According to a statement by the bank, this initiative is aimed at diversifying currencies and facilitating global transfers. The statement highlighted that this development follows an agreement on mechanisms to regulate these transactions, which will now include the use of the Euro, Chinese Yuan, Indian Rupee, and UAE Dirham.

So, now read my lips…. Can you say “international” along with me? Now do you know why I am so happy today? Can you see the writing is on the wall too?

😊 Then the proverbial icing on the cake is a statement made by Al-Sudani’s finance advisor Saleh, that he believed that removing three zeros from the currency, globally, requires two conditions:

1. “political stability and economic stability. When these two factors are available, countries resort to removing zeros from their currency,” adding that “the value is fixed and not affected. Rather, it is a relative change.”

2.He stated that the project to remove three zeros “we worked on between 2011 and 2012, but there was a delay in the matter, because it requires a change in the accounts of the Republic of Iraq and statistics, and requires cooperation between monetary policy and all government policies.”

It is noteworthy that a number of economists and experts recently called for deleting three zeros from the Iraqi currency,

Holly Molly what a statement! WOW! WOW! WOW!. They once again told us that “there was a delay” but they are now working on it? So what changes do they need to make to go forward once again? Folks, I hated even to ask this question as we have witnessed and are now witnessing all these changes happen right in front of our noses. All I can now is “I told you so”. That they are not yet ready but we can clearly see it will not be much longer. This is a bright ray of sunshine for all of us today with all the “WOWness”. WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW!

Did I just say “WOW!” twelve times….. lol..lol..lol… 😊

What can we as investors do right now?

• Pray and pray that nothing will mess this up….
• Be very patient….
• Do not sell your dinar….
• No more intel guru talk….
• No more NESARA / GESARA crazy talk….
• Stop listening to all these idiots as they are only confusing you more and more (especially TNT and “The Big Call” idiots.)
• Don’t over speculate and set unjustified expectations….

I know the path to this reinstatement, and I don’t have to speculate or guess. If you are faithful follower of my blog, you then clearly see I have NEVER misled you on the information. How can I say this? It is because I show you evidence and FACTUAL information not some make-believe fairytale bank stories or lies that four letter agencies are talking to me, because they aren’t, and I don’t care what the hell they are saying anyway.

These rumors are like an illness that has spread throughout our dinar investment community. It is easy to lie and make up stories but much, much harder to spend the time translating articles and applying them to what is really going on. Yes, we must stay grounded as this RV is coming to a closure and there is not much longer to wait.

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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.

From God to the PROPHET Julie Green:

THE OCTOBER SURPRISE WILL BRING GREAT DEVASTATION TO THE ESTABLISHMENT

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BRACE YOURSELF FOR WHAT’S COMING IN 2024

See Also

“Tidbits From TNT” Thursday 9-5-2024 — Dinar RecapsTNT - Tidbits From TNT” Tuesday Morning 9-3-2024TNT - “Tidbits from TNT” Thursday 8-29-2024The Gazette from Cedar Rapids, Iowa

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THIS IS THE BEGINNING OF THE END OF KAMALA HARRIS’ CAMPAIGN

Memories are short. We must remember who this lady and her VP pick really are. By the way she did not pick Walz, he was assigned to her. If she ever did get elected, but I totally doubt it, Walz would be running the show not her. She would only be a figure head. I know, I know this seems f____d-up, but has not the entire Biden administration screwed America in every way already? So, anything is possible and should make total sense to us that it could happen with kind of idiots running our government. They are not looking for expertise but puppets to go along with the global agenda. If this is not obvious to you by now, I give up.

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TAKING TIME TO TAKE A SERIOUS LOOK AT TIM WALZ

I think you will be surprised at what we found. I didn’t think it was this bad.

Very close ties with the communist party in China.

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HEARINGS ON TRUMP ASSASSINATION
ATTEMPT -SHOOTING FAILURES – [EVERYTHING HE SAID]

Please try to remember to pray each and every day. The rosaries for me is my way to pray and has had a significant impact on my life. It has meant many miracles for me and my family. It can be for you too, and the Blessed Immaculate Mary asks that we pray “faithfully” each day. You can also pick your own personal prayers, as the rosary is just my choice and I just wanted to share it with you.

We all know something has gone terribly wrong with our nation. A supernatural battle is taking place to determine the fate of America. In justtwelve minutes a dayyou help bring forth a divine intervention to save our country using this book. Let us not forget to fast, meditate and pray for the salvation of America. There is an organization that is taking on this endeavor through helpful prayer guidance. This is what I plan to do. How about you?

Anyonecan join the hundreds of thousands already involved in this rapidly-growing prayer movement. It’s easy to get started:

Pray the Daily Prayers To Save Our Country

Order the official prayer book, read or listen online, or print them out. Just click on the prayer book below.

A National Prayer Movement
for God’s Help

TWO CONDITIONS TO ACHIEVE IT” .. AL-SUDANI’S ADVISOR RULES OUT REMOVING 3 ZEROS FROM THE CURRENCY

Saleh said in a statement reported by the Rudaw media network, and seen by Al-Eqtisad News, that he rules out the possibility of the government removing zeros at present, indicating that “removing three zeros from the currency has nothing to do with the value of the currency, but rather with improving cash payment systems.”

He explained that “the three zeros added price and monetary inflation to the currency, starting with the Iran-Iraq war and passing through the time of the economic blockade (the nineties of the last century), and the conflicts generated inflation in the value of the currency.”

He pointed out that “when prices rise, we need larger denominations of money to maintain the equivalence between price and money. For example, due to price inflation, 25 Iraqi dinars have become 25,000 dinars.”

Saleh pointed out the importance of “reducing the calculations that have reached trillions in recent years, and this has become a tiring matter,” adding that “the process of raising three zeros does not only mean the value of the currency, but also the calculations and statistics, and in order for the method of managing it to be easy.”

The Prime Minister’s financial advisor also said that “the process of issuing large denominations reduces the currency in terms of quantities, and is a process of reforming the cash payments system, especially since this modern and advanced time requires smaller numbers.”

He believed that removing three zeros from the currency, globally, requires two conditions:

1. “political stability and economic stability. When these two factors are available, countries resort to removing zeros from their currency,” adding that “the value is fixed and not affected. Rather, it is a relative change.”

2.He stated that the project to remove three zeros “we worked on between 2011 and 2012, but there was a delay in the matter, because it requires a change in the accounts of the Republic of Iraq and statistics, and requires cooperation between monetary policy and all government policies.”

It is noteworthy that a number of economists and experts recently called for deleting three zeros from the Iraqi currency, considering that this would reduce monetary inflation in Iraqand strengthen the dinar currency.

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THE CENTRAL BANK OF IRAQ ANNOUNCES THE RESULTS OF ITS VISIT TO NEW YORK: A HIGH-LEVEL DELEGATION NEGOTIATED WITH THE US TREASURY

The Central Bank of Iraq announced the results of the visit of the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to ​​the United States of America, which lasted from August 26 to 29, 2024.

The Central Bank of Iraq confirmed in a statement received by Shafaq News Agency that a high-level negotiating delegation headed by Governor Ali Mohsen Al-Alaq held a series of intensive meetings in New York City, USA, which included discussions with the US Treasury Department and the Federal Reserve Bank, in addition to meetings with a group of companies (Visa, Mastercard and MoneyGram) as well as banks (Citi Bank and JP Morgan) as well as international auditing firms (KPMG, E&Y, K2i and Oliver Wyman).

He added that the participants in the meetings praised the major transformations accomplished by the Central Bank of Iraq, which represent an unprecedented achievement at the country level, as the bank has achieved remarkable progress in the procedures for monitoring foreign transfers and cash sales of the US dollar, which has led to improving systems, policies and procedures in accordance with international and local standards, enhancing transparency in covering foreign trade and providing protection for the banking and financial sector from the risks of money laundering, terrorist financing and financial crimes.

He announced that a meeting will be held between the officials of the Central Bank of Iraqand its international partners by the end of this yearregarding the major transformation in ending the work of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks and the network of international correspondent banks, according to the plan set by this bank, and implemented internationally, which will allow the Central Bank of Iraq and the Federal Reserve Bank to exercise their supervisory roles away from executive procedures, as this transformation will have important repercussions on the stability, fluidity and transparency of the country’s foreign trade financing operations, indicating that it aims to achieve the required stability in exchange rates, which in turn will lead to enhancing the efficiency of the financial system in Iraq.

He pointed out that the meetings in New York City also addressed mechanisms for expanding the network of international correspondent banks and qualifying Iraqi banks to meet the necessary requirements to open their accounts with international correspondent banks, with the aim of enabling them to complete their financial transactions, whether through external transfers in US dollars or other foreign currencies.

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OLIVER WYMAN COMPANY AND LIFTING SANCTIONS ON BANKS BANNED FROM THE DOLLAR

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CENTRAL BANK DISCUSSES IN WASHINGTON THE RE-INTEGRATION OF BANKS BANNED FROM THE DOLLAR

The Central Bank of Iraq discussed in Washington the re-integration of banks banned from the dollar, in addition to contracting with electronic payment companies.

The Central Bank issued a statement, seen by “Ultra Iraq”, regarding the visit of the delegation headed by the Governor of the Central Bank, Ali Mohsen Al-Alaq, to ​​the United States of America, in which he said that the delegation discussed the use of electronic payment cards and ways to organize and stimulate their use in line with Iraq’s trend towards electronic payment.

This came “during separate meetings with a group of companies such as (Visa, Mastercard and MoneyGram), as the international auditing company (KPMG) presented an extensive analytical presentation of the uses of these cards, supported by recommendations and proposals to enhance organized use and accommodate the significant increase in citizens’ use of these cards.”

The statement added, “The parties gathered during the negotiations praised the important steps in enhancing the banking sector reforms, the most important of which is the contract that the delegation of the Central Bank of Iraq concluded with the company (Oliver Wyman) to conduct a comprehensive review of the conditions of Iraqi banks, especially banks prohibited from dealing in the US dollar, as the company will work to develop practical solutions to reintegrate these banks into the Iraqi and international banking sector, in addition to improving the level of banks’ procedures in line with international standards.”

He continued: “This initiative aims to facilitate the process of establishing direct banking relations, and improve the quality of services provided by banks in a way that serves the Iraqi economy, as the company is scheduled to start its operations in the coming period.”

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CBI LAUNCHES NEW PHASE OF INTERNATIONAL TRANSFERS

Economy Breaking NEW. US Delegation Iraqi Central Bank International Transfers

2024-08-30 14:38

Shafaq News/ The Iraqi Central Bank (CBI) delegation in New York has announced the commencement of a new phase in international transfer operations, involving 13 Iraqi banks.

According to a statement by the bank, this initiative is aimed at diversifying currencies and facilitating global transfers. The statement highlighted that this development follows an agreement on mechanisms to regulate these transactions, which will now include the use of the Euro, Chinese Yuan, Indian Rupee, and UAE Dirham.

The delegation also outlined the role of the international auditing firm E&Y, which will review these transfer operations to ensure compliance with international standards. This move reflects CBI’s commitment to maintaining high levels of transparency and security in all foreign transfer operations, thereby bolstering confidence in Iraq’s financial system.

This initiative is part of the Central Bank’s ongoing efforts to support economic growth and expand international cooperation with global markets, as per the statement.

A knowledgeable source revealed on Thursday that CBI is currently conducting an unannounced visit to the United States to discuss developments in Iraq’s banking sector.

According to the source, a delegation led by Central Bank Governor Ali Al-Alaq and several general managers has been in the US since August 26 to discuss recent banking developments and the restrictions on the use of the dollar imposed on many private Iraqi banks.

The discussions also touched on the potential cancellation of the platform early next year, which would shift reliance on correspondent banks, further restricting Iraqi private banks and potentially favoring Jordanian banks with American correspondents.

The source added that CBI is close to signing a contract with the consulting firm Oliver Wyman to conduct a study on reforming Iraq’s banking sector, which will serve as a roadmap for future reforms.

Meanwhile, some economists have expressed surprise at the lack of public disclosure regarding the visit, particularly given its significance during this critical period.

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ECONOMIST: KURDISH TRADERS’ ENTRY INTO THE DOLLAR SELLING PLATFORM CONTRIBUTED TO LOWERING THE EXCHANGE RATE – URGENT

Today, Saturday (August 31, 2024), the economic expert and academic at Cihan University, Nawar Al-Saadi, said that Kurdish traders benefited from the Iraqi government’s official dollar selling platform and contributed to reducing the exchange rate.

Al-Saadi told Baghdad Today, “There is an entry of traders from the Kurdistan Region into the official dollar selling platform, and these traders benefited from obtaining the dollar at the official exchange rate, instead of buying from the parallel markets that witness higher prices,” indicating that “this influx of dollars into the market contributed greatly to increasing the supply, which led to reducing the price.”

“The issue is not limited to this factor alone, as Iraqi markets suffer from frequent fluctuations due to economic and political instability, and speculators exploit any change in the market to achieve quick gains, which increases chaos in the exchange market,” he added, noting that “rumors about possible changes in the exchange rate have prompted many to sell the dollar at low prices for fear of future declines, which has increased pressure on the dollar price.”

Al-Saadi said, “There are ongoing discussions between the Central Bank of Iraq and the US Federal Reserve, which could have a significant impact on the exchange rate,” stressing that “the results of these meetings will be decisive in determining the future direction of the dollar price in the Iraqi market.

If specific agreements are reached, we may see significant changes in the exchange rate based on those results.”

It is noteworthy that the financial affairs specialist, Nabil Jabbar Al-Tamimi, confirmed on Saturday (August 3, 2024) that the dollar exchange rate in the parallel market will remain higher than the official price due to the failure of the Central Bank to find solutions for black transfers.

Al-Tamimi told Baghdad Today, “The continued rise in the dollar exchange rate in the parallel market is due to the continuation of black transfers to finance some foreign trade by some merchants, without finding any solutions for these merchants by the Central Bank of Iraq.”

He explained that “the Central Bank of Iraq is required to find quick solutions and procedures for these traders, especially small traders, who have almost daily trade with Iran, Syria and some other countries banned from dealing in dollars.”

He pointed out that “these traders are moving towards the black market in order to finance their trade, and this is what leads to the exchange rate remaining high in the parallel market by a large difference from the official price, and this is the responsibility of the Central Bank, as it is responsible for this file.”

The dollar exchange rate returned to rise relatively today, touching 150 thousand on the stock exchange, maintaining this level since Eid al-Adha, where it rose from 1450 dinars to around 150 thousand dinars or less, and has stabilized in this range until now.

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THE CENTRAL BANK OF IRAN SOLD 320 BILLION IRAQI DINARS TO VISITORS

Iranian media revealed, today, Sunday, that 1.6 million Iranian visitors purchased the Iraqi currency in Iran before heading to Iraq to perform the Arbaeen pilgrimage.

(This is EXACTLY what we wanted to eventually see. Tourists using dinar and not dollars. Remember in the last pilgrimage the CBI sold them dollars not dinar. Now they are going strictly to dinars. WOW! WOW! WOW!)

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WHAT ARE THE CHALLENGES OF SELLING IRAQI OIL IN “PETRO DINARS” AND WILL THE DOLLAR FALTER?

After 2003, Iraq was able to significantly increase its oil production level thanks to its openness to international companies specializing in energy, through the new contracting system called licensing rounds. Production increased from three million barrels per day in 2003 to more than 4.22 million barrels in the last quarter of 2023.

Iraq’s oil and gas sector is the country’s lifeblood, contributing more than 95% of GDP.

CAUTION CAUTION

In addition, warnings are escalating about the impact of the decline in oil on the general budget in Iraq and the extent of its impact on increasing the budget deficit, which is estimated at the time of approving the budget at about (47) billion dollars, especially since the budget depends primarily on oil prices, at a rate exceeding (95%) as its source.

And to Basra, where its crude oil is witnessing weekly losses of $5, or 2%, as a result of the global decline in oil prices, while observers see: “The interesting thing about the latest confusing matter is the acceleration of oil prices, which have witnessed some declines, but as long as oil prices are above (70) dollars, Iraq is safe and the planned deficit is (47) billion dollars, but they confirmed that if it falls below (70) dollars, even by one dollar, this will increase the deficit by a large percentage of up to $1.2 billion if the decline continues for one year, and this will put great pressure on the budget.

The data also indicates that prices will remain at $70 and will rise again to around $80 based on the OPEC and OPEC Plus action plan, and Iraq will benefit. As for Iraq’s current weekly losses, they are due to fluctuations or declines in Asian demand, especially in India and China.

Strategic expert Alaa Al-Azzawi said: “This measure will enhance the value of the local currency, which is suffering from confusion due to the fluctuation of the dollar exchange rate in the Iraqi markets.

(Yes, very important statement. Did you read it?)

Al-Azzawi told the “Iraq Observer” agency that the most important thing in this procedure is selling oil in dinars. “The petro-dinar will enable the Iraqi currency to enter the global markets, as Russia did before and sold its oil in local currency.”

The strategic expert pointed out that the most important thing is that the Iraqi dinar will enter a new phase in global trade relations, and the position of the dollar may weaken within Iraq.

Where is the series of losses going?

Basra Heavy and Medium crude recorded weekly losses, with global oil prices recording losses of more than 2%. Basra Heavy crude closed in its last session up $1.8 to reach $72.47. It recorded weekly losses of $3.25, while Basra Medium crude closed in its last session with an increase of $1.8 to reach $75.47, and it also recorded weekly losses of $3.39, or the equivalent of 3.92%, while Brent crude recorded weekly losses of 1.2%, and West Texas Intermediate crude recorded weekly losses of 2.1%.

Both crudes hit their lowest levels since early January this week, after the U.S. government sharply cut its estimate of jobs added by employers in the country this year through next March.

For his part, Al-Sudani’s financial advisor, Mazhar Muhammad Salih, said: “Any deviation between oil prices (petrodollars) and the exchange rate (petrodinars) according to international market data will be considered a cost that requires compensation by paying fewer dinars or collecting a higher dinar in the opposite case,” indicating that “international reserve currencies are foreign currencies held by central banks and global financial institutions as part of their monetary reserves.”

These currencies are used in international transactions and debt settlement between countries, and are a standard for international payments and facilitating global trade.”

“Russia suffered a lot when it priced its exported oil in rubles (petrorubles), and the ruble is a non-reserve currency, and committed to a value for the ruble that was initially denominated in gold to ensure the stability of oil revenues. Here, the petroruble underwent two asset cycles at the same time (which complicated the scene of selling oil in local currency and stabilizing the value of the petroruble),” Saleh said.

According to Saleh, international market data indicate that “the first cycle: is the result of the impact of what is called the gold asset cycle and its impact on the value of the (petroruble) or the local currency denominated in exported oil.

The second, and the talk is in favor of: it is the oil assets cycle, and its effect on the value of a barrel of oil outside the global price and the reflection of that on oil revenues priced in that currency, and that “the two cycles are asset cycles that are linked and contradict each other at the same time on the value (of the currency priced in the exported oil, such as the petroruble), which made pricing Russian oil in rubles as a local currency and according to the data of the global oil market a very complex issue.”

He pointed out that “the principle of using the dinar as a local currency in international oil exchanges (petrodinar) is not without many challenges, which is why those potential challenges must be carefully considered, especially the issue of the flexibility or stability of the value of the (petrodinar) itself to change and fluctuation, especially since we in the oil market are not price makers in it, but rather price takers.”

He noted that “the global oil market will control the fluctuation of the local currency (petrodinar), in addition to the importance of international recognition of it, and the financial infrastructure necessary to support such operations from (petrodinar).

“In other words, the strategy of basing the value of the currency on oil exports directly may make the value of the local currency vulnerable to fluctuations in the global market,” he continued. “The proposal to sell oil in dinars as a local currency must take into account an important theory in global trade called the Law of One Price, which is an economic concept that assumes that the same commodity should be sold at the same prices in all markets when the price is expressed in the same currency.”

Explaining: “This is on condition that there are no transportation costs or trade barriers such as customs tariffs and others, as the single price theory here is the basis for many economic and commercial models and the theory is based on the assumption that markets operate efficiently, according to the official agency.”

A new collapseand oil prices fell by about 2 percent today, due to fears of the impact of the slowdown in economic growth in the United States and China on energy demand, especially after prices rose by more than 7 percent during the previous three days.

Brent crude futures fell 1.6 percent, or $1.31, to $80.12 a barrel, while U.S. West Texas Intermediate crude fell 1.7 percent, or $1.30, to $76.12.

Prices have risen sharply in the past few days as analysts point to a potential shutdown of Libya’s Nagat fields, which could limit the OPEC member’s output of around 1.2 million barrels per day. Analysts pointed to tensions in the Middle East following a large-scale exchange of fire between Israel and Iran-allied Hezbollah in Lebanon in recent days, according to Reuters.

Crude oil prices have recently been affected by growing expectations that the Federal Reserve will cut interest rates next month, which could boost economic growth and thus demand for oil. U.S. data is expected to show that energy companies last week pulled crude oil from inventories for the eighth week out of nine.

Analysts expected US energy companies to withdraw about three million barrels of crude from inventories during the week ending August 23.

The American Petroleum Institute is scheduled to release weekly U.S. oil inventory data today, as is the U.S. Energy Information Administration.

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PARLIAMENTARY ECONOMY COMMITTEE DISCUSSES AMENDING THE “INVESTMENT LAW”

The Iraqi legislative arena is currently witnessing intensive discussions about the fourth amendment to Investment Law No. 13 of 2006, as amended, in light of the significant expansion of investment activity in the country in recent years.

These discussions come within the framework of efforts aimed at improving the investment environment and addressing the gaps in the current law.

In a press interview followed by “Economy News”, member of the Economic Committee, Diaa Al-Hindi, confirmed that the proposed amendment is “important and necessary” due to the many problems that the current law suffers from, explaining that “the current law requires fundamental amendments in several aspects, including the mechanism for selecting heads of bodies and members of the board of directors in bodies, in addition to the conditions for granting and withdrawing investment licenses, additional extensions, and grievance procedures.”

Al-Hindi pointed out that the amendment seeks to address those issues that the current law did not adequately address, which negatively affects the investment climate in Iraq.

(This is all amendments the WTO has asked for and is holding up “full” accession. Remember this from a past article? Can you say WTO?)

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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.

Auf Wiedersehen

Much love to ya all,

Mnt Goat