8-18-2016 Newshound Guru firefly Article: "Presented Finance Minister Hoshyar Zebari, a draft 2017 budget law to the Council of Ministers." Now this is interesting, wonder when the deadline is to approve it? And why talk about it in August! Why would they want it completed in Sept? The numbers are mind boggling. Follow the money folks!
8-18-2016 Newshound Guru rcookie Article quote: "Amnesty bill does not reveal a clear philosophy in dealing with the crimes covered by the amnesty, and the crimes are excluded from it." THIS PIECE GIVES YOU EVERYTHING ABOUT AMNESTY LAW BACKGROUND HISTORY UP TO TODAY THAT YOU COULD ASK FOR...THIS IS AN EXCEPTIONALLY COMPLEX LAW...WITH FAR REACHING CONSEQUENCES THAT WILL IMPACT THEIR SOCIETY FOR A LONG TIME...FROM TORTURE...TO TERRORISM...TO FAKE DIPLOMAS & COUNTERFEITING...THE APPEAL PROCESS AND IMMUNITY... AND CAN OBVIOUSLY SEE WHY IT HAS TAKEN SO MUCH TIME AND ELICITS SUCH DEBATE FROM SO MANY ANGLES... BIG...BIG...ISSUES ...THEY ONLY HAVE ONE SHOT AT IT...
8-18-2016 Intel Guru Frank26 [Last week you stated the fiscal year for Iraq is October to September, but...you changed that to say Iraq's fiscal year has always been January to December. So has the time frame now changed from September/October to December, 2016 or even possibly the beginning of 2017...Would you mind clarifying this?] Said does NOT have to be that long...Said they are way ahead of schedule...Said all of M. E. is always on a Financial Year...Said all has to happen BEFORE they enter 2017...They will launch their 2017 Budget on 1/1/17 as they and the ME ALWAYS DO...As the 2017 Budget comes to life with a new rate in September of 2016...IMO.
8-18-2016 Newshound Guru rcookie Article: "Ministry of Finance: the adoption and the wills of oil by 90% in 2017 budget" Quote: "The Ministry of Finance next month of September, the date for the completion of the state budget for the year 2017..." ...SO IN ATTACKING THE FORMATION OF THE 2017 BUDGET...ZEBARI ANNOUNCES THAT IRAQ BUDGET 2017 DEPENDS ON OIL SALES BY LESS THAN 90% FOR THE 1ST TIME IN SEVERAL DECADES...AND WILL BE COMPLETED BY END OF SEPTEMBER. THEY HAVE CHANGED THE IMPETUS OF THEIR ECONOMY...AND WILL ONLY CONTINUE TO IMPROVE & PROSPER...AND OBVIOUSLY EARNED THE RESPECT...CONFIDENCE AND STABILIZATION THE 3 LETTER AGENCIES ARE FORECASTING RELEVANT TO THE STRONG GROWTH IN GDP AND FOREIGN DIRECT INVESTMENT NUMBERS...TALK ABOUT PROGRESS IN THE RIGHT DIRECTION...
8-18-2016 Intel Guru ADMINBILL WHAT NEWS I HAVE RECEIVED IS GOOD. EVEN THE POSTS FROM [GURU] FRANK, [GURU] DELTA AND OTHERS POINT TO GOOD THINGS HAPPENING. CONTINUE TO BE DILIGENT AS WE NEAR THE RELEASE...
8-18-2016 Newshound Guru wmawhite Remember, the size of the notes in a marketplace is reflective of the price of goods in the marketplace. In order for the lower denominated notes to be used in the marketplace is for the prices to have decreased enough for them to be used. With Iraq still importing 85% of its goods, those prices in the marketplace will lower once the value of the currency buying them increases in value significantly. Those goods are imported today with the USD. Those prices will not be brought down in price importing them with a currency less valuable than a dollar.
8-18-2016 Newshound Guru Adam Montana [If we would see a RV in October 2016, do you believe it would be at the once mentioned rate of .10 cents.] Depends on oil prices. If it starts spiking, which is very possible, then yes I think 10 pennies or even higher. If oil is hovering around $50, but we see the HCL, then I'd look for 5-10 cents.
8-18-2016 Newshound Guru rcookie Article: "Iraqi delegation in Cairo to take advantage of the experience of the Egyptian Investment Authority" ADDING 488 IRAQIS HAVE BEEN TRAINED IN THE PROGRAM IN THE INVESTMENT... INSURANCE... STOCK EXCHANGE...AND CAPITAL MARKET AREAS AND GREETED BY THE 18 MEMBER IRAQI DELEGATION OF GOV'T AGENCIES & NATIONAL COMMISSION FOR IRAQI INVESTMENT... AND NOTES IRAQ IS RANKED 25TH IN COUNTRIES INVESTED IN EGYPT... COMPRISED OF 3324 COMPANIES WORTH 492 MILLION AND OVER 4000 EMPLOYEES IN ALL SECTORS... WOW!! WHO IS THE MOST INTERESTED IN SETTLING OF DISPUTES BETWEEN BUSINESSES AND COUNTRIES... HANDLING TRADE DISPUTES BETWEEN PARTIES AND NATIONS... IT IS 1 OF THE FINAL STEPS FOR WTO ACCESSION.
8-18-2016 Newshound Guru Adam Montana [do you think that there is any chance that once the RV is started that they will try to "cheat us" out of a fair share of the RV?] Nope. I understand your concern and where you are coming from, but it would be "RV Suicide" to try to steal from those that they need to support them. Basically, you're alluding to an "in country" RV. I don't have any fears of that happening.
8-16-2016 Newshound Guru Breitling They [People who feel there is trillions of dinar out there] look at the CBI and they’ll look at the reports coming in and it says in their reserve they have 53 Trillion dinar or 61 trillion…at one time it was 81 trillion and then it went down. People don’t understand it’s all the assets combined…it’s gold, it’s oil, it’s the reserve, it’s not the country’s note count. There are 2 reports that come out…one report said they had 6 billion notes and how much dinar that represented…I’ve talked about this for years. Then the next report came out and it said it was down to 4 billion notes but it never came out with how much that 4 billion represented. People would get the countries note count mixed up with the countries overall value. [Part 2 of 2]
8-16-2016 Newshound Guru rcookie Article: "Basra calling for the rehabilitation of border outlets being an important economic resource" ...WHERE AT ONE TIME THE CUSTOMS TARIFFS INCREASES TO BE IMPOSED AT BORDER POINT WERE MAJOR OBSTACLE AND SOURCE OF CONTENTION IN THESE BORDER CROSSING AREAS...THE SUCCESS OF THE REVENUE STREAMS TO THE COUNTRY AND PROVINCIAL SHARE OF THE REVENUES HAVE THESE AREAS TRIPPING OVER THEMSELVES TO GET ENGAGED...WHAT A DIFFERENCE A YEAR MAKES.
8-16-2016 Newshound Guru Breitling Article “Dozens demonstrate in front of the family bank in central Baghdad to demand their money...” People don’t realize this but this has been going on at more than one bank. The thing is the banks are not releasing cash to the citizens. And that’s strange since there are misunderstandings out there of how much dinar is out there. With all that dinar out there [Said sarcastically]. There’s a shortage of getting citizens their money? That worthless dinar? How does that happen? Strange circumstances don’t you think? With trillions and trillions of dinar out there…and that’s the accusation that’s out there…why would they have problems giving cash to people on the streets? [If there was trillions of dinar] It doesn’t exist. …it’s not a nation wide thing but it keeps happening over and over again. So again, my question is…With all these trillions of dinars? …It’s the note count and it’s something that’s not talked about…[Part 1 of 2]
8-16-2016 Intel/Newshound Guru Mnt Goat By the time the new RV happens they want to have as much of the 3 zero notes already exchanged in Iraq as possible. The e-dinar implementation will also help too since I believe this is why they will use the e-dinar for months to pay people instead of hard currency. (from Sept 1st 2016 thru Jan 1st 2017)... This will not put any more new currency back into circulation and thus limit the possibility of 3 zero notes later. So they needed all this time to clean up the financial and banking system. Remember the IMF came into being a major player in the process in Oct 2015... This new 5.4 billion loan is bait...bating Iraq to go alone with the needed reforms. Also they do not want to give them this aid unless they can pay it back and the reforms are their assurance. They are supposed to get another 2 billion of the loan by the end of the year. Do you now see just how close we are to the RV? We are approaching an RV window...The window is Sept 1st 2016 thru Jan 1st 2017...its coming...at least they will attempt it one more time. [post 3 of 3]
8-16-2016 Intel/Newshound Guru Mnt Goat For instance 4 of the $25,000k notes today is worth $100 dollars. Then they launch the lower denoms. The new $100 notes will be worth $100 dollars. Easy one note instead of four notes. No value change yet. But when they go to the bank to dump (exchange) their cumbersome, extra large 3 zero notes it will be a 1:1. They will turn in 4 of the $25,000 notes for one $100 new notes. Value stays exactly the same. So citizens in Iraq will have the exact same purchasing power only they won't have to carry wads of these 3 zero notes of to purchase. Note they did not say 1:1 with the USD they simply said 1:1 with the old currency to the new currency value. When do we make our millions then? This is step #2: The process calls for bringing the dinar back to the true value pre-war years. This is the bonus for us, this is the RV. But this new rate will not have any effect on the Iraqi citizen... ...the exchange rate we keep hearing about of $3.22 - $4.20 is for the USA value in dollars...our $25,000 dinar notes get exchanged to dollars. So at an RV of $3.00 we would get $75,000 for our $25,000 note. [post 2 of 3....stay tuned]
8-16-2016 Intel/Newshound Guru Mnt Goat Remember this RV is going to be a two stage process. First they must launch the lower denominations at a 1:1 and then later comes the RV with an increase in value. The new value will coincide with the post war value plus equity. Article: "Economists divided over deletion of zeros on Iraqi dinar" This is an amazing article... This article confirms that the RV is a two step process. The First step: Quote: "that the step to delete zeros is merely an administrative process, and the currency equation should remain the same. This means that the purchasing power of the new currency should be equal to that of the old currency. He added that the two currencies should both remain in the market for a period not exceeding three years, then the old currency should be gradually withdrawn". So how do they get the old currency to equal the new currency value from an RV we all keep hearing about? [post 1 of 3....stay tuned]
8-16-2016 Newshound/Intel Guru BGG [...2017 BUDGET WILL BE $82 BILLION AND BASED ON $40 PER BARREL...] I haven't looked at any recent budget numbers - but doesn't that leave them pretty short still? On the other hand, if oil spikes - which it always does - they will be in really good shape...in fact, REALLY good shape.
8-16-2016 Newshound Guru mike To me, fisal policy = legislation. I don't think you'll find concrete evidence that he's wrong, just the absence of the legislation that's necessary for economic/monetary reform. I think we're hearing a lot of discussion from the economists, IMF and even the CBI, but precious little from the government itself. I think they're begrudgingly following the guidelines the IMF set up so they can have access to the loans, but I would agree with Keywords, they don't have a long term plan. Hopefully I'm way off base and 2017 is the year... [post 2 of 2]
8-16-2016 Newshound Guru mike Article: "Keywords acknowledges the absence of fiscal policy and accuses the institutions working for political interests Baaaguetha" I'm puzzled as to why Keyword's would put these kinds of statements out today when there's supposed to be a plan to move this country forward economically and monetarily. We keep hearing about a plan and yet Keywords is telling us there isn't one. I guess time will tell, they told us Iraq would be part of the worlds economy by mid 2016 and now they've moved it to 2017, here's hoping that is still the plan. [post 1 of 2....stay tuned]
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