rockfl9

I think i've found a problem!!!

29 posts in this topic

Iraqi oil revenue supports over 90% of the budget.  But it is limited by the production cap and the low price of oil. 75+% of the budget is salaries, pensions and welfare. The lowest pay grade gets   400,000 IQD per month, that is equivalent to about 375 USD.  IF they RVed  to a penny that 400,000 would cost 3,750 USD ( 10 TIMES MORE) .. But the oil income in USD stays the same.  They would have to BORROW 10 times more to balance the budget.

The IMF has been monitoring the cash flow and I believe has said No more money till you get costs down , NOT UP.   Thus  no RV in the works.  SOON!

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Hi CAZ... Simple enough.  Do you think the MOF/CBI doesn't know this? All the gurus have said that an RV would be a good thing for Iraq and the dinarians believed it. Here is proof that it is not true.

Actually Abadi knows the best thing would be is to devalue the dinar to cover costs to avoid more borrowing but politically doesn't want it to happen on his watch.    But he will soon run out of options. Then there is the problem of how to cover reconstruction. Ramadi,Faluja and most of Mosul are in ruin .

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I was shaking my head cuz, why do LOPsters go out of their way to try to disprove something they aren't a part of with such vigor? LOL only at DV - still SMH

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SMH = Shaking  MY Head   Thanks  , I couldn't fig that one out.

Just think what it would be like ... Congratulations Hamed,  We have just raised your salary by a factor of 10 !!!!  The bad news is we can't pay you until we print 10 TIMES MORE DINAR.   Think what that would do to the REAL value of the dinar.

Until the GOI gets MORE USD coming in  from oil sales there will not be an increase in REAL purchasing power of the dinar.

The CBI can say the exchange rate , IN IRAQ , is whatever rate it will use to make IN-COUNTRY exchanges BUT the Central banking community (if it ever will trade outside of IRAQ) will develop  it's own rate. 

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CAZ, I forgot to add... I'm only here to help.  There is sooooo much bad info I want to do my bit to balance it out.

Do you really think the price of bread dropped from 1000 IQD to 250  overnight ( per Delta) horse pucky!!!!

What we have is gurus making up stuff saying it is from their "contacts/ boots on the ground ...

You can say anything on the internet, it doesn't have to be true, and when it comes to the dinar it probably isn't.

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I want to post a note to Philip.    No matter what Iraq sets as its INTERNAL exchange rate the price of oil in dollars will not change.. Iraq will have the same income .  See the payroll problem above.

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On 4/19/2017 at 4:22 PM, KeepM said:

Hey Caz!!! How's life treating you?

 

well, well, well... :)

 

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17 hours ago, rockfl9 said:

I want to post a note to Philip.    No matter what Iraq sets as its INTERNAL exchange rate the price of oil in dollars will not change.. Iraq will have the same income .  See the payroll problem above.

"ONLY HERE TO HELP"  LOL!!!!!! For your own selfish reasons......most definitely. Question same as it has always been.....what are the real reasons? My guess as it has always been.....revenge/anger towards those mean ol guru's  that embarrassed you and treated you like a bald headed step dinar-son. And good Psych Doc would tell ya......son it's time to grow up....put ur big boy pants on....and move on. You feel u got duped....happens to some...in this case....YOU. Go back to writing your mythical book (the one only you can see) and try to enjoy life.

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On ‎4‎/‎19‎/‎2017 at 5:22 PM, KeepM said:

Hey Caz!!! How's life treating you?

 

Hey Dude!!!

Howz the world of BMW? Hope u and the family are doing well!

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5 hours ago, caz1104 said:

"ONLY HERE TO HELP"  LOL!!!!!! For your own selfish reasons......most definitely. Question same as it has always been.....what are the real reasons? My guess as it has always been.....revenge/anger towards those mean ol guru's  that embarrassed you and treated you like a bald headed step dinar-son. And good Psych Doc would tell ya......son it's time to grow up....put ur big boy pants on....and move on. You feel u got duped....happens to some...in this case....YOU. Go back to writing your mythical book (the one only you can see) and try to enjoy life.

no CAZ not duped at all.  This thing smelled bad to me from day one.  You keep your big-boy pants on and hang in .... It is going to be a long bumpy ride , still.  Mosul may be finished,  that's good but low oil prices expected for future and that means more borrowing , but that will be difficult.  Raising the value of the dinar in Iraq will only make things worse.

I know my musings mostly fall on deaf ears , a voice out of the darkness .. Those that don't care can ignore all.

 

  

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Ok I'll try another angle............what is the point of all ur rants? You urself say "I know my musings mostly fall on deaf ears". You say ur not or ever vested  (BS)...u say no one listens (not hard to understand)...again what is the point? I would think even you would get bored with ur rants. Man up and really tell all why you STILL hang out here and vent your anger/hate/frustrations.

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Caz just adding some wisdom and truth to the site.... The translations of news out if Iraq get twisted into predictions of the great RV..... Some are well meaning , overzealous DVers .   But I suspect some are phantom pumpers.  I do my best to counter them. 

I never bought any dinar.  I remember from one of my early investing classes where the instructor cautioned not to invest in currencies or commodities as you will loose your money or end up with a boxcar of pork bellys. 

When this comes to an end ( don't know why it has taken this long) we will see who was right. 

 

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Mr. Montana! Long time....hope all is well in DV land! Just dropping by....havent even thought of the dinar in years lol....

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Caz, things are good in Beemer world haha! Just keepin busy....the little one is 5 now....Jesus...haha! Time has flown by! Still holding on to your dinar I see. Good seeing a familiar face around!

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Ur last sentence is the 1st one I can recall that I agree with............time will provide the answer

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4 hours ago, KeepM said:

Caz, things are good in Beemer world haha! Just keepin busy....the little one is 5 now....Jesus...haha! Time has flown by! Still holding on to your dinar I see. Good seeing a familiar face around!

Hey Keep... good to see ya drop by!  I can't believe your daughter is 5 already!  Sounds like all is well in Beemerland... coincidentally, I spent the day shopping around for a used Z4!  Found a nice '07...   The photos of the upcoming Z5 look awesome!

Jax

Edited by Jaxinjersey
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Hey Jax!! Yea I know, the time flies....wish I could just throw her back in diapers haha! At least she couldn't really talk back then! Hopefully you got a good deal on the Z4, if you didn't buy it yet, ask if you can take it to a German specific or BMW specific shop to have them do a pre-buyers inspection so you know what your getting into! Can't say I'm not a little ansy about seeing the new Z5 myself!

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17 minutes ago, KeepM said:

Hey Jax!! Yea I know, the time flies....wish I could just throw her back in diapers haha! At least she couldn't really talk back then! Hopefully you got a good deal on the Z4, if you didn't buy it yet, ask if you can take it to a German specific or BMW specific shop to have them do a pre-buyers inspection so you know what your getting into! Can't say I'm not a little ansy about seeing the new Z5 myself!

Thanks for the advice, Keep.... It's not for me, I'm just helping a friend.  She put a small deposit on it, and actually just said she wants to get it looked at.  Problem is, it's an hour and a half away... so, we're trying to figure out the best way to get that done.  She's gonna talk to the owner tomorrow.  It would be easiest to get a BMW mechanic to the seller's house... but probably best to get it into a shop.  '07, 67k miles, Condition is like mint... driving, clutch, shifting is perfect, top works fine.  My main concern would be the timing belt... but that's hard to diagnose anyway.  Any further advice?  Don't mean to take up your time and expertise...

Thanks again...  Jax

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Sup Keep....good to hear you and the little gal are good. TIme sure does fly

I am still driving the old 2001 X5 (big engine) myself...we refer to her as the beast!

 

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On 4/21/2017 at 10:58 AM, rockfl9 said:

SMH = Shaking  MY Head   Thanks  , I couldn't fig that one out.

Just think what it would be like ... Congratulations Hamed,  We have just raised your salary by a factor of 10 !!!!  The bad news is we can't pay you until we print 10 TIMES MORE DINAR.   Think what that would do to the REAL value of the dinar.

Until the GOI gets MORE USD coming in  from oil sales there will not be an increase in REAL purchasing power of the dinar.

The CBI can say the exchange rate , IN IRAQ , is whatever rate it will use to make IN-COUNTRY exchanges BUT the Central banking community (if it ever will trade outside of IRAQ) will develop  it's own rate. 

rockfl9

What makes you think I don't agree with you?

My recent thread is simply asking for opinions on what CBI "fiat" exchange rate WOULD be acceptable to the Central Banking community yet still work inside Iraq.

IMO, answers should prove interesting.

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Its all good Jax! That engine you don't have to worry about a timing belt. Its chain driven, and those don't really have any history on that car for having problems so good to go there! Taking it to a shop so they can get it up in the air and check the suspension etc is always best! Let me know how it goes!

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