2015 Budget - Going to be difficult

[dontlop]

Uh huh

The old apples and oranges again

If the Kuwait dinar didn't rv why didn't it rv ?

The amount of goods and services you could buy from one day to the next changed by 15,000%

Now it's been argued that the market rate makes no difference it all goes by the official exchange rate at the central bank

There fore I submit the change in the iraqi Swiss dinar since the official exchange rate at the central bank did change over night by decree

You ewingm could solve this mystery for us

How do you know if a currency is revalued ? By the market rate or by the official exchange rate at the central bank

You can't say that it varies from country to country unless you want everyone to think your ignorant

So did the swiss dinar rv or did the Kuwait dinar revalue?

I knew you would duck out of here

Edited December 8, 2014 by dontlop

[dinarbeleiver]

Completely different circumstances.  Apples and oranges.  The Kuwait wasn't an rv it was an ri. You're beginning to sound like DB.

it will revalue Ewingm maybe not this year but it will revalue. I can't wait to prove you wrong!

[dinarbeleiver]

It will also be good to see what happens to your leader Sam I am.

When the RV is revealed

[Texstorm]

I'm with you DB it's just common sense not rocket science, just too many resources not to come on par with Kuwait and Saudi Arabia. These 2 countries that I mentioned also want Iraq to be stable if for no other reason just to have peace on their borders. Here in the US we are very fortunate to have our neighbors to the north. If you look to the south it's a big mess and very unstable.

[rockfl9]

If the Kuwait dinar didn't rv why didn't it rv ?

****When the Emir left the country during the invasion the CONTROL of the country's RESERVES went with him. So the Kuwati dinar had no official backing, essentially it became a FLOAT.

****Then when he returned the RESERVES returned . That is an RI.

The amount of goods and services you could buy from one day to the next changed by 15,000%

**** YEP, The Emir said so! A gift to the people. He could do that as ruler. The international rate was restored at the same time.

Kuwait was OPEN for business worldwide.

How do you know if a currency is revalued ? By the market rate or by the official exchange rate at the central bank

*** THE Central Bank's rate is the rate that carries a guaranteed exchange rate .

So did the swiss dinar rv or did the Kuwait dinar revalue?

****Neither. The swiss dinar became extinct after the exchange , there could NOT be a new rate!

[ewingm]

Rock, you are trying to close the barn door AFTER the cow stomper left.  You will NEVER convince Dontlop that the swissndinar wasn't a revalue.  My understanding is that the swiss dinar, which was usednalmost exclusively up in Kurdistan, never lost its market value during the 14 years of Gulf wars.  It even increased in value as UN sanctions and Saddam's overprinting gutted the regular dinar used in Baghdad.  Therefore in 2004, when the Bremmer dimar was printed, the Coalition did not think it air to penalize the holders of swis dinar nd create a "situation".  So they honored the exchange of swiss dinar to Bremmer dinar  at 150 to 1.  It wasn't a revalue, because it NEVER lost it's value in Kurdistan.  Remmer did not want to cause a firestorm up north by making them exchangemat 1 to 1, which would have been a massive 15,000% loss of money for the Kurds.

[Shabibilicious]

Dontlop, you are a riddle, wrapped up in a mystery, inside an enigma.  How you avoid getting rubies when you curse the rv, is a mystery.  If I had said what you just said, I would get another weeks probation.

 

Perhaps double and triple spacing is an effective deterrent.    

 

GO RV, and NO BV

[ewingm]

Rock, you are trying to close the barn door AFTER the cow stomper left.  You will NEVER convince Dontlop that the swissndinar wasn't a revalue.  My understanding is that the swiss dinar, which was usednalmost exclusively up in Kurdistan, never lost its market value during the 14 years of Gulf wars.  It even increased in value as UN sanctions and Saddam's overprinting gutted the regular dinar used in Baghdad.  Therefore in 2004, when the Bremmer dimar was printed, the Coalition did not think it air to penalize the holders of swis dinar nd create a "situation".  So they honored the exchange of swiss dinar to Bremmer dinar  at 150 to 1.  It wasn't a revalue, because it NEVER lost it's value in Kurdistan.  Remmer did not want to cause a firestorm up north by making them exchangemat 1 to 1, which would have been a massive 15,000% loss of money for the Kurds.

 

 

Rock, you are trying to close the barn door AFTER the cow stomper left.  You will NEVER convince Dontlop that the swissndinar wasn't a revalue.  My understanding is that the swiss dinar, which was usednalmost exclusively up in Kurdistan, never lost its market value during the 14 years of Gulf wars.  It even increased in value as UN sanctions and Saddam's overprinting gutted the regular dinar used in Baghdad.  Therefore in 2004, when the Bremmer dimar was printed, the Coalition did not think it air to penalize the holders of swis dinar nd create a "situation".  So they honored the exchange of swiss dinar to Bremmer dinar  at 150 to 1.  It wasn't a revalue, because it NEVER lost it's value in Kurdistan.  Remmer did not want to cause a firestorm up north by making them exchangemat 1 to 1, which would have been a massive 15,000% loss of money for the Kurds.

[Shabibilicious]

See?  It works.  Because of the double spacing.....I passed on reading it.    

 

GO RV, and NO BV

[dontlop]

So did the swiss dinar rv or did the Kuwait dinar revalue?****Neither. The swiss dinar became extinct after the exchange , there could NOT be a new rate!

That's completely ignorant Rocky

Your just plain lying

Because it's remonetized no that means it never revalued ever ?

Rock, you are trying to close the barn door AFTER the cow stomper left. You will NEVER convince Dontlop that the swissndinar wasn't a revalue. My understanding is that the swiss dinar, which was usednalmost exclusively up in Kurdistan, never lost its market value during the 14 years of Gulf wars. It even increased in value as UN sanctions and Saddam's overprinting gutted the regular dinar used in Baghdad. Therefore in 2004, when the Bremmer dimar was printed, the Coalition did not think it air to penalize the holders of swis dinar nd create a "situation". So they honored the exchange of swiss dinar to Bremmer dinar at 150 to 1. It wasn't a revalue, because it NEVER lost it's value in Kurdistan. Remmer did not want to cause a firestorm up north by making them exchangemat 1 to 1, which would have been a massive 15,000% loss of money for the Kurds.

YA you should be able to make up stupid comments and convince someone to change their minds based on lies or that person just deserves to be called names

Your name calling is what got you shut off two weeks ago ewingm

,

Edited December 8, 2014 by dontlop

[rockfl9]

Ewingm: I'm not responding directly to the CHIMP, Just using the subject of his statements as talking points to get at the teachable ones. Those willing to try to understand all the risks and options.

I will admit as you surely know once they BUY into this dinar RV thing it is hard to admit you made a mistake. The pumpers have a knack of keeping the dream (miracle) alive.

[dinarbeleiver]

Ewingm: I'm not responding directly to the CHIMP, Just using the subject of his statements as talking points to get at the teachable ones. Those willing to try to understand all the risks and options.I will admit as you surely know once they BUY into this dinar RV thing it is hard to admit you made a mistake. The pumpers have a knack of keeping the dream (miracle) alive.

I don't need to listen to gurus however I will continue to invest more into Iraq and I suggest people who can see how rich Iraq will be to do the same!

I'm with you DB it's just common sense not rocket science, just too many resources not to come on par with Kuwait and Saudi Arabia. These 2 countries that I mentioned also want Iraq to be stable if for no other reason just to have peace on their borders. Here in the US we are very fortunate to have our neighbors to the north. If you look to the south it's a big mess and very unstable.

exactly texstorm- this is why I wonder what these lopsters agendas are. I already know having been the brunt of some of their more sinister ways to try to keep people quiet- government paid shills

[ewingm]

So DB, do you believe the IMF will ALLOW the CBI to announce a 100,000% RV of the dinar?  Wouldn't you think the IMF would prefer iraq to get its M2 of 90 Trillion dinar reduced through a redenomination down to 90 Billion dinars before they begin revaluation?  Since the IMF KNOWS the negative ramifications that would result to iraq's economy if such a huge, unprecedented, RV were to be announced, I strongly doubt they would be in favor or support such a move. JMO. 

[dinarbeleiver]

So DB, do you believe the IMF will ALLOW the CBI to announce a 100,000% RV of the dinar?  Wouldn't you think the IMF would prefer iraq to get its M2 of 90 Trillion dinar reduced through a redenomination down to 90 Billion dinars before they begin revaluation?  Since the IMF KNOWS the negative ramifications that would result to iraq's economy if such a huge, unprecedented, RV were to be announced, I strongly doubt they would be in favor or support such a move. JMO.

it will just happen Ewingm without fanfare - I beleive the politicians in Iraq who have stated many times that the iraqi dinar is undervalued over anything you say winges

The IMF will be behind them and the RV will save a lot of other countries debt

[rockfl9]

it will just happen Ewingm without fanfare - I beleive the politicians in Iraq who have stated many times that the iraqi dinar is undervalued over anything you say winges

The IMF will be behind them and the RV will save a lot of other countries debt

DB::; A 1:1 would be the monetary event of the ERA! A DEBACLE. You BELIEVE what politicians say as FACT???! You are on the wrong planet.

[dinarbeleiver]

DB::; A 1:1 would be the monetary event of the ERA! A DEBACLE. You BELIEVE what politicians say as FACT???! You are on the wrong planet.

I believe the finance committee of Iraq who abadi was part of before becoming prime minister.

Rock I can't work you out which side are you on the lopster or the RVers

Also I beleive a rate of one dinar to 3 dollars will massively propel the iraqi economy like it did to Germany after ww2

[dontlop]

Ewingm: I'm not responding directly to the CHIMP, Just using the subject of his statements as talking points to get at the teachable ones. Those willing to try to understand all the risks and options.I will admit as you surely know once they BUY into this dinar RV thing it is hard to admit you made a mistake. The pumpers have a knack of keeping the dream (miracle) alive.

So your admitting the mods were right

You are a lopster

Just say it your a lopster

I think I'm gonna be a billionare

Now openly admit it

You found the way , the truth

Come on

Admit it

[rockfl9]

I believe the finance committee of Iraq who abadi was part of before becoming prime minister.

I didn't know where Abadi stood in the old government. If he was in finance I wonder why he was so surprised the treasury was in such bad shape .

But a different tune now. Situation serious. Need to cut salaries and luxuries. Eliminate unnecessary projects. Tighten Belts? Do they need belts under the robes??? Expected revenue down 40% from last year . Increased security expense. Doesn't sound like they are in a position to finance an RV next year if at all.

NOT Bankrupt , but i think close to it. Not too rosie a future.

If you think there will be an RV of any size in the next 3 years.

I say SHOW ME THE MONEY or you'er just guessing.

[dinarbeleiver]

Here rocky Iraq is not just oil

EXECUTIVE SUMMARY

After decades of sanctions, war and sectarian violence Iraq is emerging as one of the most dynamic economies in the world, with vast oil and gas fields powering the country's revival

But now a new resource is attracting global investors: the glittering mineral wealth beneath Iraq's deserts and mountainous regions

Referring to The Klondike gold-rush bonanza 200 years ago, one key-note speaker at Iraq Mining 2011 said: "I call this Iraq's Minerals Rush!"

The sheer size of Iraq's mining and mineral resources are breathtaking.

The conference was told natural deposits are some of the biggest in the world, including an estimated 600 million tonnes of native sulphur in the Mosul region, 10 billion tonnes of phosphates and 75 million tonnes of quartz sand under the Western Desert, 8 billion tonnes of limestone in Al Anbar and Suleimani, 50 million tonnes of salt in Al Anbar and Al Basrah. All these figures are thought to be conservative.

There's gold under the Western Desert and in Kurdistan where there are also is millions of tonnes of zinc, copper and marble. Iraqi geology is also favourable to the discovery of platinum.

In business the right timing of a new venture is vital, and once again investors, especially Westerners, are being urged to make a move now.

The Conference heard the world's major mining and minerals companies are being offered deals worth billions of dollars, not only to extract but also convert Iraq's underground resources into key products for domestic and export markets.

Potential investment projects included plants for the production of: sodium sulphate in Salahadin Province, feldspar concentrate near Najaf, phosphates at Akashat, alumina at Akashat, silicone sand in al-Anbar province, Sodium Carbonate in Akashat, ceramic tables, sanitary ware and glass in various parts of Iraq.

Phosphates were identified as a massive growth market with a seemingly insatiable demand from India, Pakistan and Bangladesh where billions of tonnes of fertilisers for agriculture are needed annually. The Gulf region needs phosphates, as does Iraq, to maintain and grow agricultural economies

Other potential lucrative ventures include the millions of tonnes of cement and other building materials, like steel, which are urgently required for Iraq's massive construction projects including 3.5 million new homes in the next 5 years, a new railway system, new road expressways, airports, ports and iconic new buildings such as the Basrah Sports Complex.

Conference attendees heard there had been a sea-change in Iraqi Government economic policy: gone are the days of stagnation and bureaucracy; Baghdad's vision now included a liberal, transparent, free-market economy devoid of corruption.

Iraqi cabinet members revealed Iraq was fully open to foreign investment and wants to encourage it, especially with an Iraqi partner.

The Conference was told the Iraqi government has a 30 year economic plan for mines and minerals:

Up to 2015: "institutional building," introducing legislative changes to make Iraq more attractive to investors, establishing global links with international corporations and other entities, and 'smoothing' links between federal and provincial governorates.

2015 to 2020: "expansion and exploitation of mineral resources, " which included "clustering" whereby interrelated industries and institutions drive wealth creation through innovation and the export of good and services

2015 to 2030: the Iraqi government wants to see "sustainable and responsible growth in mining and minerals," in other words a green revolution of Iraq's minerals industries.

There was also a strong note of realism at the conference with reference to the huge challenges ahead both for Iraq and potential investors.

As one Iraqi key-note speaker put it: "I don't want to kid you everything is hunky-dory."

The Conference was told political stability was returning to Iraq and security improving all the time, despite recent bomb attacks.

But democracy had also brought its own bureaucracy and corruption persisted at many levels.

The Iraqi government is aware of these short-comings and is determined to eradicate layers of red-tape and stamp-out bribery.

Iraq's banking system, so vital to investors, was described at the Conference as: "primitive." They were told the Iraqi government is striving to upgrade services and this was: "work in progress." The Conference heard new bank arrivals in Iraq such as HSBC, Standard Chartered, Citibank and financial institutions including pwC would act as powerful catalysts for banking reform.

Investors also identified lack of credit facilities to fund major projects as a stumbling block. They were told the Iraqi government was working on this and Baghdad had noted several major US hedge funds now had Iraq in their sights for investment.

Iraq's National Investment Commission (NIC) was identified as one-stop shop to help foreign companies invest in mines and minerals. The NIC helps in obtaining licences, tax exemptions and land.

Iraq's Five Year National Development Plan for 2010-2014 targets economic growth at 9.4 per cent, including nearly 3,000 projects worth up to US$190 billion. Around US$11 billion was reconstruction and a further US$72 billion was earmarked for capital projects like roads and housing.

Overall the mood of the Conference was up-beat with potential investors showing keen interest in the massive wealth to be made out of Iraq's mining and minerals industries.

Educate yourselves lopsters on the sheer size of Iraq's wealth

Rocky your a LOPSTER

[Texstorm]

Ewingm: I'm not responding directly to the CHIMP, Just using the subject of his statements as talking points to get at the teachable ones. Those willing to try to understand all the risks and options.I will admit as you surely know once they BUY into this dinar RV thing it is hard to admit you made a mistake. The pumpers have a knack of keeping the dream (miracle) alive.

. I can tell you this rock I've seen miracles straight from heaven in my life, against all odds,zero percent chance,impossible, improbable, truly an anomaly, and I've witnessed it with my own eyes. If you want to hear one of my stories I would share it with you in person. I know that the world can not be saved but there are miracles each and every day, that happen by the grace of our God. Why or how, I don't have a clue. I believe that most miracles are by devine intervention, and while I'll never discount luck, bad and good, however I have lived and I have seen miracles. If this is where GOD has led me, then this is where that I am supposed to be.

[dinarbeleiver]

The sheer size of Iraq's mining and mineral resources are breathtaking.

The conference was told natural deposits are some of the biggest in the world, including an estimated 600 million tonnes of native sulphur in the Mosul region, 10 billion tonnes of phosphates and 75 million tonnes of quartz sand under the Western Desert, 8 billion tonnes of limestone in Al Anbar and Suleimani, 50 million tonnes of salt in Al Anbar and Al Basrah. All these figures are thought to be conservative

thats how they will fund an RV ( as well as oil and gas)

The Iraqis are richer than the Saudis

[dontlop]

I been hearing that for 30 years that iraq is richer than Saudi Arabia

They just need to attach debt notes to it

[rockfl9]

. I can tell you this rock I've seen miracles straight from heaven in my life, against all odds,zero percent chance,impossible, improbable, truly an anomaly, and I've witnessed it with my own eyes. If you want to hear one of my stories I would share it with you in person. I know that the world can not be saved but there are miracles each and every day, that happen by the grace of our God. Why or how, I don't have a clue. I believe that most miracles are by devine intervention, and while I'll never discount luck, bad and good, however I have lived and I have seen miracles. If this is where GOD has led me, then this is where that I am supposed to be.

Tex:: please share at least ONE of your FINANCIAL MIRACLES with ALL. I occasionally flip to the religious TV to see lame walking, cancer cured and sight restored MIRACLES, if you believe fine. Have yet to see/read of a struggling battle scarred third world country SUDDENLY becoming a world financial powerhouse OVERNIGHT!

[dontlop]

Funny how your capitalizing your rants just like ewingm

[Texstorm]

Tex:: please share at least ONE of your FINANCIAL MIRACLES with ALL. I occasionally flip to the religious TV to see lame walking, cancer cured and sight restored MIRACLES, if you believe fine. Have yet to see/read of a struggling battle scarred third world country SUDDENLY becoming a world financial powerhouse OVERNIGHT!

Rock I did not say financial miracle anywhere in my statement ! You need to read it again. And far as Iraq....Revelations 17-18 the New Testament speaks of a mighty city that will be destroyed. Thanks