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About ReVbo

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  • Birthday 10/11/1977

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  1. Thanks, DWS112. I borrowed this one and the "big boom" article. Hope you don't mind. Great finds, by the way. I don't know how you guys manage to dig this stuff up.
  2. No, they didn't. "With the economic boom led by Iraq’s oil industry, the national currency in the form of the Dinar will eventually rise to reflect the true value of the country’s oil wealth. The rise will most likely happen when the National Bank of Iraq lifts the artificially low value placed on the nation’s currency in 2003."
  3. Here's the interview:المستشار-الاقتصادي-لرئيس-الوزراء-أي-دولة-لها-علاقة Here are the relevant quotes from Dr. Mohammed Saleh, deputy economic adviser to Prime Minister Abadi: " we move from a centralized economy to a market economy, and for that there must be a sovereign wealth fund internal finances private sector" "I am optimistic and say that after the liberation of Mosul, there will be a new path of economic reform." "Loop" left out an important part of Saleh's quote, the qualifying clause after the part about moving from a centralized economy to a market economy, and he gave the impression that Saleh was literally talking about TODAY. He also neglected to mention the most important part of the whole interview, that second quote that gives a good time frame for when the implementation of the market economy will take place.
  4. I wasn't sure about the other sources I've seen, but BasNews is legit. It's still kind of hard to believe, considering how unreliable Baghdadi news always is, but if BasNews is reporting it, this could actually be real.
  5. They are now, indeed, surrounded. Their last escape route, to Tal Afar, has been cut off. @loomisroberto 28m Mosul is now cut off from Tal Afar after the liberation of Damarji al-Sughra from IS by Iraqi Forces Via @iraqi_day
  6. Updated map as of about 30 minutes ago, courtesy of Mosul Eye on Twitter. Notice they are approaching the second bridge from the south after capturing the first bridge, called the Fourth Bridge, late yesterday. Thanks for all the updates, Yota and tiger. I've been borrowing them.
  7. From 2015 (more at link): 500 billion dollars stolen under Maliki rule in Iraq: official Iraqi Commission of Integrity (CoI) spokesman Adil Nouri has claimed that half of the government's oil income and funds for reconstruction were 'stolen' and 'vanished' from Iraq during the 8-year period of office of former President Nouri Maliki.Speaking at the Iraqi Parliament, Nouri said that around 500 billion dollars from government coffers has "disappeared" and is perhaps the greatest corruption in history.Underlining that Iraq's oil income between 2006 and 2014 alone was only $ 822 billion, he said that the Maliki government had also received more than $250 billion in funds from many countries, namely the U.S., used to pay the salaries and pensions of Iraqi government workers and for reconstruction projects.
  8. That's right. It's the 2006 law. The translator must be dyslexic today.
  9. I don't want to get into a big, long research project over this, but here's the big one, from January 30 World Bank "Plunging OIl Prices" report: The Plunging Oil Prices report questions the practice of pegging the Iraqi dinar to the US dollar, noting the that value of the dinar has been falling against the dollar in the parallel market: “Iraq pursues a policy of a de facto peg to the U.S. Dollar, and therefore monetary policy is constrained in tackling the current shock. “The Central Bank of Iraq (CBI) had kept the Dinar steady through January 2009. “In 2014, the nominal exchange rate in the official market remained stable against the U.S. Dollar at 1,166 IQD/1 USD, but the rate in the parallel market increased. “The CBI has recently taken steps to simplify foreign exchange market regulations, but has not eliminated all existing exchange restrictions and the multiple currency practice. “With the peg, fiscal policy carries the burden of macroeconomic stabilization, but in this case does not have the space to do so.“
  10. You mean the other higher denom notes? There are no other lower denom notes. The 50 is/was the smallest they have, and the reason, as far as I can tell, is it was the only one of the current series that did not get re-printed, with better security features, last year.
  11. Does anybody have that? $1000 worth of 50s would be 25,000 notes. Talk about bringing a wheelbarrow to the bank.
  12. That's a Libyan note. We went through this at DA yesterday. Don't ask me why they put pics of Libyan money in an article about Iraq. Excellent post, Trin. Float on!
  13. I get the dinar salesmen who claim secret sources, because that's impossible to debunk, other than their abysmal track records, but why would someone just make up budget numbers? It's so easy to prove wrong. Also, you have your numbers backwards, Luigi. If it's 3.4 dinars to the dollar, that's roughly 29 cents as a rate, not that it matters. Dude, as long as you've been at this, you should really stop bothering with this crap. It's wasting your time and frying your brain.
  14. My understanding is, by putting it in the budget, we have sort of a one-year HCL, which would need to be re-approved with every budget. I could be wrong, though, if anyone has a better hold on this. I don't think it's a permanent HCL, but it's good enough for me.