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BondLady - I Did See Something Today That Could Be A Game Changer For Us All !

DinarThug

By DinarThug,
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CNN. Broadcasting While Downing Irish Coffee And Blazing !

 

 

 

Post From BondLadys Corner

BondLady Chat & Tlm724 Comments  1-29-16


Officials expect revenues exceeding $ 100 billion from the sale of 600 thousand state-owned property 

[bondLady] good morning, I'll come talk to y'all a second while I down this coffee then I need to blaze
 
[RCS1947] great
 
[cat] thanks    
 
[bondLady] I did see something today that could be a game changer for us all
~~~

 

[RCS1947] really!

 
[bondLady] its been in the news the last week up to date Iraq gov gonna sell off some properties and land to fill the deficit
 
[RCS1947] yes
 
[bondLady] whats the deficit like $ 20 billion ?
 
[RCS1947] I can't remember
 
[bondLady] well if they do this sale they will receive in excess of 100 billion dollars USD approximately according to their news and I posted like 5 articles or so that supports that just today alone
 
[RCS1947] great
 
[cat] wow
 
[bondLady] the CBI reserves are like 58 billion or so right as of now?
 
[RCS1947] yes
 
[bondLady] add a 100 billion USD to that after this sale   
 
[poopsie] interesting
 
[bondLady] you see the IMF keep saying, which I also posted about this the last several days, that they are not negotiating with Iraq per loans at this time right ?
 
[RCS1947] yep
 
[bondLady] what if the sale of this real estate was so big a 100 BILLION big...that it made their reserves almost 160 billion hmmmm USD riddle me that batman lol
 
[RCS1947] our dinar might be worth something
 
[cat] uh huh
 
[bondLady] think of the repercussions of that huge reserve amounts and to their exchange rates as well as economy and businesses to jump start all the factories and industries
 
[bondLady] I dunno I could be totally off base but I look at it like this if they go through with this sale and it can only be sold locally to Iraqis, they have to live there
 
[bondLady] that is government land and real estate so if they sell it where would all those billions be deposited at ? CBI ? reserves? I am not sure about where
 
[bondLady] anywhos just a thought, if that was so
 
[RCS1947] good point
 
[cat] great stuff
 
[bondLady] I could see they could set a nice rate or possibly reinstate it but as usual you have to wait it out
 
[bondLady] timmys busy this morning and won't be in till later but I did talk to her about this stuff
 
[RCS1947] well that will put a smile on our face this morning!
 
[poopsie] waiting is our specialty
 
[cat] do you believe any changes in their rate by mid summer ?
 
[bondLady] I couldn't say cat
 
[bondLady] but they are in a huge financial crunch, an economic swift downfall they have procrastinated every single thing including all of the such important laws, if they do this sale then it's almost problem solved as far as I can see
 
[cat] thank you
 
[bondLady] pass the laws that will protect their wealth and act like a working country again stop relying on only oil, anyways I got to go but did wanna come visit a second with y'all over coffee
 
[RCS1947] or they could receive all this money and do nothing as in the past
 
[bondLady] please always read the news in the forum even if no one is here to bring it in chat...you miss so much if you don't  
 
[poopsie] ty BondLady great having you come in here and ty this is certainly food for thought
 
[cat] BondLady you have made our day
  
[RCS1947] thank you very much
 
[poopsie] mine too
 
[bondLady] yqw poopsie and yes it is food for thought 
 
[soon] ty
 
[bondLady] yqw RCS1947 and cat and thank you both for always being our faithful chat guardians
 
[bondLady] yqw soon enuff
 
[cat] yqw always
 
[bondLady] not soon enuff lol
  
[soon]  lol 
 
[bondLady] thanks everyone   
 
tlm724:     Thanks BondLady great chat, sorry I missed it ! As you mentioned we did talk early this morning about this and you are right, it is awesome to see some news to get excited about. It is also great to see Iraq think outside the box about selling off this real estate instead of beggin with their dirty hands out lol As you said I am sure it came at the urging of the IMF !
 
You did explain to me that they won't be selling off the palaces etc... they will turn them into museums which is perfect for the tourism industry.
 
More steady revenue. I am not ashamed to admit that I was shocked at these numbers, that is a boat load of dough and could very well have a huge impact on our investment. I am of the mindset that those funds will go to the CBI but I will email this to Shredd for his opinion on the matter.
 
I just want to point out a few highlights from the article base.
~~~
 
Baghdad, the Iraqi government is considering the disposition of more than 600 000 drug thereof, to turn it into cash within its plan to cope with the financial Haunted by the decline in oil prices. Finance Committee and talked about the possibility for the government amounted to $ 150 billion from the sale of real estate State.
 
That is saying it could possibly be up to $150 Billion dollars !
~~~
 
warns MP Masood Haider of the "loss of the amounts that will be realized from the sale of real estate if you go without a rational management of the funds also calls for the prime minister Haider al-Abadi. "presumably a member of the Finance Committee that" the government establish mechanisms for sale in a way that does not allow parties influential figures of the acquisition of such property pittance ".
 
Keep the politics and BS out of the matter !! Keep the wealthy politicians away from it !
~~~
 
 
The Minister of Oil, in an article he wrote recently, that "the state owns the assets of tens and hundreds of trillions of dinars from in-kind assets, and real estate assets, and land and plants are idle, and buildings experience and assets of the neglected, and the investments lost to ill departments." confirms Ghorabi (range ),

That "the sale Akart state process needs transparency and display property in a fair to advertise in different ways." The student member of the Finance Committee the government to "identify areas of property and the disclosure of those who exceed some of them, whether they are citizens or parties."
~~~
 
Finally I want to point out that Parliament is working on the law that will see this plan through to fruition, here is the press release about the last session. Again thank you BondLady you are our rock and you rock too !
~~~ 

 

House of Representatives finish reading the seven bills

January 21, 2016
 
He ended the House of Representatives at its second regular legislative term of the second legislative year and the second headed by Dr. Salim al-President of the Council and in the presence of 201 deputies today Thursday, 1.21.2016 read seven bills.
 
At the outset of the session of the Council ended the first reading of the first draft amendment to the Law of sale and lease of state property No. 21 Act of 2013 and provided financial and legal Committees to avoid gaps guaranteed by law and create legal and accounting treatment of what Affersh Cancel dissolved Revolutionary Command Council Resolution No. 163 of 1998 and to address what was produced by applications the operation of the law of shortcomings.
 
 
http://www.parliament.iq/details.aspx?id=28531&AlwType=News
 
 
Shredd:     Looks like this is being considered at this stage and the purpose is to supplement the cashflow shortage due to low oil prices...refers to this as a crisis. Iraq will need to look at other sources to fill the gap of low oil prices and since oil is almost all of Iraq's source of cash, this will possibly push them to look for ways to diversify their exports.

Edited by DinarThug
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DinarThug Newbie

DinarThug

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Here's A Copy Of The Main Article Being Discussed ...

CNN. Broadcasting While Putting Up 'For Sale By Owner' Signs On Saddam's Old Palaces !

(by walkingstick)

Officials expect revenues exceeding $ 100 billion from the sale of 600 thousand state-owned property

Author:

Editor: 01/27/2016 23:21 N

Long-Presse / Baghdad

The Iraqi government is considering the disposition of more than 600 000 drug thereof, to turn it into cash within its plan to cope with the financial crisis due to falling oil prices.

The Finance Committee and talked about the possibility for the government amounted to $ 150 billion from the sale of state property. It expresses its concern over the acquisition of parties and influential figures on the property at low prices.

On the other hand warns Deputy for the Sadrist movement of prejudice to the presidential palaces, saying it belongs to the people. It proposes converted into museums instead of selling them.

Finance Committee submitted earlier, several ideas to the government to get out of the financial crisis, including the sale of state property.

The size of the state Real Estate

In turn reveals a government source familiar with (long) condition of anonymity, was not authorized to declare, that "the state has about 600 000 real estate across the country."

The Finance Committee revealed, the end of last year, about 15 government proposals include a paragraph to provide 400-500 million dollars to the state treasury.

He described the members of the Commission proposals as "practical and realistic", pointing to the possession of the Municipality of Baghdad about 38 000 drug that will support the federal budget.

For his part, predicted Masood Haider parliamentary member of the Finance Committee, in connection with the (long) "to achieve about $ 150 billion from the sale of state property."

The government is facing a real crisis with the decline in oil prices to below the US $ 30, before returning this week to exceed the threshold of $ 38.

And passed the House of Representatives, the end of last year, the budget of 2016, which exceeded 105 trillion dinars, and a deficit estimated at $ 20 billion.

And Masood Haider MP warns of "the loss of the amounts that will be realized from the sale of real estate if you go without a rational management of the funds also calls for the prime minister Haider al-Abadi."

Presumably member of the Finance Committee that "the government establish mechanisms for sale in a way that does not allow parties and influential figures from the acquisition of such property pittance".

But Kurdish lawmaker did not expect to be sold this large amount of real estate in a short time, due to the lack of state to inventory and evaluate these properties before selling them at auction.

However, the property of the parties

And holds a number of political parties and currents on a large number of government property. Parliamentary Integrity Commission is of the view that "70% of the state property sold during the past years in a way is not clear."

So called MP Majda al-Tamimi, a member of the Finance Committee, in an interview with the (range), the government has to issue lists the number of real estate and the nature of the people who occupy some of them rented.

The informed sources revealed, last August, a government decision to limit the duration of the leases real estate green and around the region, the duration of not more than three years.

The sources said at the time that the government has decided to be "the conclusion of leases in the green and its surrounding area for only one year, renewable for two years that the term not exceeding three years."

And stresses MP Majda al-Tamimi as "the government would monitor the sale of such real estate or lease of fear displayed at below-market prices."

She said a member of the Liberal bloc "I'm not selling government with huge villas and buildings or shops, but with the intervention in the process of investment and rent, rather than the loss of money."

Tamimi expects to "go sell state property returns to the salaries and expenses of a private security ministries will not enter into investment."

The fate of Saddam's palaces

And member of the Finance Committee warns of the "former regime palaces sale", saying it "properties of the people and can be converted into museums and get a daily imports of visitors."

Estimates of Saddam's palaces in Iraq, according to specialists, about 1000 Palace 0.200 of which only inside Baghdad, turning mostly to the offices of party and government.

The government confiscated after 2003 about 3 thousands of real estate property of symbols and officials of Saddam's regime who were occupying high positions in the military command or organizations of the Baath Party and the security services.

In the meantime, we expect Hossam Ghorabi MP, member of the Finance Committee, that "the move amounts derived from the sale of state property and help banks withdraw funds chunky among the citizens."

The oil minister Adel Abdul Mahdi, recently spoke about the existence of critical mass ranging from 30-40 trillion dinars However citizens.

Abdul-Mahdi promised that money as a "hoarding" What did not enter the economic cycle or banks, and called on the government to entice citizens to enter the money supply in the economic cycle.

The Minister of Oil, in an article he wrote recently, that "the state owns the assets of tens and hundreds of trillions of dinars from in-kind assets, and real estate assets, and land and plants are idle, and buildings experience and assets of the neglected, and the investments lost to mismanagement."

And confirms Ghorabi (range), that "the sale process Akart state needs to transparency and display property is just for advertising in different ways."

Student and member of the Finance Committee the government to "identify areas of property and the disclosure of those who exceed some of them, whether they are citizens or parties."

Wael from grace ..

http://www.almadapress.com/ar/news/6375 ... D8%B2-100-

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GregHi Enthusiast

GregHi

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I don't see how the CBI reserves would go up from the sale of state owned property. Wouldn't that money go into government coffers and not the central bank?

Exactly what I was thinking.. The Gov just won't give that money to the CBI.. It will magically disappear if Baghdad gets it!!

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BJinMontreal Newbie

BJinMontreal

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Davis, that was my first thought to - good old Timmys.

I'm guessing because this was a translated article the dollar sign ended up in there courtesy of Google or yahoo and they're talking 150 billion dinar. Butt, I could be wrong, it's happened before. o_O ... I think!

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sewerrat Newbie

sewerrat

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The Iraq Business News reported that the government is considering the sale of more than 600,000 state owned properties including around 1,000 that formerly belonged to Saddam Hussein. The sale could potentially yield $150 billion helping to bolster the country's finances. But according to a report from the Times of Israel the parliamentary financial committee is still weighing up the plan amid fears that it would allow influential figures to gain possession of huge swathes of former state property at discount prices. There was no report that the CBI would receive the money.

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