I come to you today to share my recent findings and give you an update on the progress of the new government and how this relates towards the international rollout of the IQD for Iraq.
Today's news letter, as in all my news letters, is a continuation of the ongoing saga of the IQD RV process. Please refer back to my last news letter of 10/17 (LINK) as this news letter is a continuation of this news.
Today is Sunday 10/19 and Iraq progress is moving forward once again. This has been an amazing week with an even more amazing ending.
Update on the Confirmation of the Remaining Ministers
On Wednesday 10/15 we were supposed to see the candidates for the Defense and Interior ministries once again presented to parliament. This did not happen. It was a disappointment and then they announced at this time it would be postponed until Saturday 10/18.
According to a political agreement made weeks ago, the Minister of Defense was resolved earlier. What Iraq waiting on was the Interior minister selection to submit bothof them together since you really could not separate them (there’s that interconnection again). The component of the Sunni and Shiite did not agree on the candidate. This was because of disagreements within the National Alliance and a coalition of national forces on this topic.
So today Saturday 10/18 a parliamentary source for "Twilight News", has told us that 197 deputies voted in favor of confirming candidate for the bloc Badr Mohammed Ghaban minister of the interior, while the candidate of a coalition of national forces confirmed Khaled al-Obeidi, with 173 votes to the Ministry of Defense. It is finally done!
Is there any wonder why al-Obeidi, the new defense minister, was born in Mosul and spent his childhood there. Read on I will tell you more as to why this is important at this moment in history.
Okay now that these ministers are confirmed we must now also look at what else was accomplished or agreed to in order for this to happen. Remember I said in previous news letter that the blocs were using this candidate selection as leverage for something else.
So now all of a sudden we are hearing that Abadi agreed to sit down with the Kurds and discuss and resolve all issues related to oil and do it next week. We should not see an accelerated process in getting these reforms done.
To me these are two very significant pieces of news and note worthy of a quick news letter.
We still wait for the news media, however to carry the story to the public in an announcement that the government is now “fully” seated.
Quick ISIS Update
In a recent news letter I talked about how the USA and GB wanted troops “on the ground” in Iraq. Why are they being so pushy to get this?
I believe it’s a matter of protecting their investment. Yes - just in case you didn’t know the PTB are using the USA armed services to do their dirty work in Iraq. So far they have supported a mercenary army of soldiers against ISIS but it is time to beef it up and accelerate the effort. Yes- I did say protecting what they worked so hard to accomplish so far in the Middle East. They allowed Iraq to try to do it their way and Iraq failed. They pulled out ground forces in 2011. Now its time for “daddy” to come back home and fix this mess.
I was looking for a way to say this more appropriately but this really says it all.
There are thousands of investors lined up just waiting to get in to Iraq. The coalition is not going to let it fall to ISIS. There is a strategy planned to rid Iraq of ISIS and it is about to begin. My theory is the battle to end all battles with terrorism in Iraq is going to happen in Mosul. Like all events that come and go like a never ending cycle. I believe the fate of terrorism and the final demise is about to decided upon. There will still be many more battles too to fight in the future but this will be the standoff. This will be the beginning of the end. This will be the deciding factor. So now we watch for this in the news. Some connections in Iraq are stating this action will take place within 10 days.
Update on the Currency Reform Project
In my last news letter I talked about members of the parliamentary Economic and Finance Committees, making requests for implementation of the “project to delete the zeros” from the currency. Pointing to the existence of some of the obstacles that have prevented its implementation . This Committee will host the CBI governor to learn practical steps for the implementation of the project to delete the zeros from the currency and in coordination with the Central Bank to determine the most prominent problems that hindered the implementation of the project. This is all key to our investment so we should all watch for news on this topic. I believe this is just the beginning of more pressure to get the currency revalued now that it seems the political side is catching up to the economic side…..finally.
So this is what we do know for sure in summary:
1.two ministries of parliament have called on the head of CBI to come before them to explain why the three zero currency has not been removed and why the value has not been raised since they have been ready for it now for over 6 months and are desperately in the need for cash since the just borrowed short term loans to pay government funded programs;
2. also an announcement has been given by the CBI stating that they are prepared and are ready for the dinar to be raised to a reality rate and that they are prepared to move to a market economy;
3. Weeks ago the CBI has stated they are ready to move to Article 8 as a UN charter member. So why now the hold up? As you may know Article 8 is a full international currency.
4. the ISX (Iraqi Stock Exchange) has announced that they will be closed until the 10/26 beginning 10/19 to update to x-stream -- this is to do with the OMX Nasdaq platform through New York or of NY stock market. We can say that they are in the process of expanded to their final global platform and this is very exciting and encouraging since they need a reality rate of the dinar to do fair trade within the global markets.
This all like WOW and HOLY COWS news for this week! At last we are hearing once again, and in public eye this time, the need to address currency reform.
I know I repeated some of this news from my last news letter but is note worthy enough to remember.
Update on the 2014 Budget
There has been some talk about the budget this week. It did not arrive at parliament as expected this week. It has not been passed.
So on Saturday, Finance Minister Hoshyar Zebari said he would work to expedite the completion of the budget of 2014 and sent to the Cabinet for approval, pointing out that the time has come to start work after the completion of the government of Prime Minister Haider al-Abadi.
This is all very good news. The next session of parliament is taking place on Tuesday 10/28 and the budget is on the agenda. I would expect this event to be completed at this time or shortly after. We could get the budget next week.
I am being told that they had some major cleanup and rearranging of the budget. That 4.5 % of the budget is to go directly to Kurdistan and 60% of the remainder to the defense ministry for funding the provinces in the decentralization effort for the security forces. The other remaining 20% of the 80% to run the government. This is a huge amount going to defense. Something is up.
Many of the projects slotted in the old 2014 were stripped out of the budget and will instead be done in the 2015. Soon after this 2014 budget is passed they will begin work on the 2015 budget. I feel 2015 will be year of reconstruction.
I have talked about the “Federation Council” in many of my news letters and the connection to the “Provincial Council” and how it is now being implemented and used much like the USA Senate to control and lead the provinces. The Prime Minister will no longer be the commander and chief of the Iraqi Armed Forces. Instead this responsibility will go to the head of the Federation Council, which I believe is Dr. Allawi. We await too a formal announcement of the completion and full implementation of this council. This too will be a sign we are yet even closer to an RV. This effort is included in the majority of the 2014 funding.
So today I send you a brief update. It is all amazing news and very good news. We are many steps closer to an RV and we can almost see it now on the very near horizon. It could literally happen any day now.
The USA is still pushing for approval to send in more troops as “boots on the ground” to fight ISIS. It is my understanding of the situation this will happen next week as the troops are now already on route to Iraqis soil.
There are still many security concerns mainly with the provincial banks. The CBI is not going to RV the currency until they have assurances that these banks can not be raided (i.e. the Mosul bank was raided for billions of USD was stolen by ISIS). This was of course downplayed in the news media for on looking investors but I assure you it was stolen and they are now being very cautious not to let it happen again. I suspect we may have to wait to see the outcome of the battle for Mosul that is about to take place before any RV….sorry!
Then when can we expect the RV?
I want to emphasize once again this final announcement of the IQD going international will not happen until the USA feels the country of Iraq and its government is stable, secure, non-sectarian and is a functional government. This is has been the plan all along. They may have wavered a bit on how the plan was implemented but the overall plan guidelines have not changed. This I know now as fact not rumor.
Note: I am no longer saying fully formed government as criteria since I believe this requirement has now been completed. It is the very first “fully” seated government for Iraq since the invasion of 2003. Congratulations to the Abadi government !
Peace and Luv To Ya All,