homerunhit

We keep seeing from others that Iraq has to make some "economic reforms" in order to improve their situation. They hint that revaluation of the dinar is the key to "economic reforms". Is it really a key for Iraq to revalue the dinar to improve their economic situation and if not, how does Iraq plan on improving their economic lot and gain outside investment in the country's future?

When I started out in this, I was really excited about investing in that country. Over time, these people have come to scare me with their whacky antics. How could I trust them with my money - if I ever got any?

Moose - you'll be able to do this! Its tough, but man, you're tougher..

yeah - I'd take $.02 per VND as well...

I liked the aside comments in blue....

A long time ago, the same thing was stated - except at that time the rate was $.02. This is kinda like a fish story - the longer it goes on, the bigger the catch

Thanks Carla for the post.

I think what Adam is saying is the wealth is still within Iraq, its just not recognized - or tied into the value of the IQD at this time. Within the US, we had a certain wealth that was originally represented by a certain amount of USD. If trillions more USD are printed, the overall wealth hasn't changed, its just that the value of the notes is reduced, because so many more bills represent that same original wealth. Is that what you are saying, Adam?

Law abiding citizens cannot purchase historic firearms, but the DEA and Justice Department can sell automatic weapons to the drug cartels in Latin America?

That took me back to my Dad's "Coral Pink" '59 Chev... Thanks for the post! +1

And all this coming down during a time that the Justice Department and DEA are sending fully automatic weapons to drug dealers all over Latin America...

http://aknews.com/en/aknews/2/293065/ Government to appeal budget due to disparities in financial allocations 29/02/2012 17:36 BAGHDAD, Feb. 29 (AKnews) - The State of Law Coalition (SLC) said the government intends to appeal the budget law in front of the Federal Court because of the "significant" discrepancies found in most of the financial allocations. Coalition member Abdul Salam al-Maliki said Prime Minister Nouri al-Maliki, leader of the SLC, will appeal the validity of the budget because there are disparities in the numbers submitted by the government. "Delaying the budget will affect negatively the citizens and infrastructure projects and we wanted to solve all the problems before [the budget] reached the government, but the [discrepancies] must be addressed," Salam Maliki said. The cabinet instructed the justice minister on Tuesday either to expedite the preparation of the disputes found within the budget or appeal the budget before the Federal Court, according to a statement issued by government spokesman Ali al-Dabbagh. "The Council of Representatives will be more serious in presenting the budget this time and addressing the points of disputes," Dabbagh said. The Iraqi government approved in its emergency meeting on December 5 last year the 2012 budget of 117tr IQD ($100bn) with a deficit of 16tr IQD ($13.5bn). The Council of Representatives voted in favor of the budget on 23 of this month after making a number of changes to it, the most prominent being the cancellation of social benefits of 3bn IQD ($2.5m) each for the president, PM and house speaker. Iraqi citizens have in the past protested against the lack of basic services that the successive governments were unable to provide despite the passage of nearly nine years since the former regime was toppled. The 2012 budget grants loans for citizens to buy accommodation and for farmers without financial means in a bid to solve the housing crisis and activate the agricultural sector. By Hussam Ali RN/DM/AKnews

This is great news if it doesn't get retracted! Thanks for the Post!

yeah, well it appears that the news was wrong and no action was taken - hmmm, go figure... Yet someone has posted a link stating the budget did pass - Hope its true!

Thanks - This may confirm your article is accurate: http://aknews.com/en/aknews/4/291556/ MPs to vote on budget bill tomorrow 22/02/2012 15:13 ERBIL, Feb. 22 (AKnews) - MPs will vote on the budget bill tomorrow after receiving the Finance Committee's final report on the proposed legislation. Second Deputy Speaker of the House of Representatives Aref Tayfur said no parties, including the Kurds, have objected to the bill as a whole. Kurdish MP and member of the Finance Committee Najiba Najib said another article was added to the bill earlier concerning compensation for citizens who lost their property as a result of Saddam Hussein's Arabization policy. According to the article, compensation will be awarded provided that the court supports the claim. AKnews previously reported that 52bn IQD ($45m) has been allotted to the budget to reimburse families affected by Arabization. Kurdish politician Shorsh Haji said this figure was sufficient for "only 5,000 families". "The total number of families to be compensated reaches almost 650,000 in the Kurdistan region alone," he said at the time. Reports estimate each family will be given 10m IQD ($8,500). According to the final report of the Finance Committee the budget stands at 117tr IQD ($100bn). Some 19.8tr ($17bn), equivalent to 17 percent, will go to the Kurdistan Regional Government. The news follows renewed threats from Ahrar parliamentary bloc to boycott the budget vote unless its demands are met. By Fryad Mohammed Edited by Karzan Kanabi But then again, who knows what they'll do...