2015 Budget - Going to be difficult

[rockfl9]

DL :: UR right I was thinking  dinar.

[dontlop]

I understand

I've done it many times said dinar when I meant dollars and vise versa

[rockfl9]

The budget committee and the special team set up by Abadi to manage the deficit have to use the published rate . So I would not expect the budget to be based on anything other than the 1166 rate. There are too many involved. It will be 1166....

After the budget is released , if the CBI smells inflation , deflation or any other type of imbalance, it may tweak the rate  .  Figure that would take 3-6 months to develop.

[dontlop]

If ya look at Zimbabwe did a couple years ago they released the new rate with the annual budget but that was a rd not a rv

The mof said a couple years ago they couldn't delete the three zeros because the budget was using current dinar

The budget may be an opportune time to remove three zeros

I'm not sure this will be the year since all the financial problems they are having simutainously with the isis invasion

[rockfl9]

DL :: It is possible that is is an ideal time to rd , but  thats a CBI decision .  But they have too much going on to add the extra confusion. Maybe same time next year.  The citizens will have a hard enough time adjusting to the lower income.

[Markinsa]

Just for additional information, according to the CBI 2013 Financial Statements (Page 22), the Monetary Base (MB) (Currency Issued, i.e. Hard Currency)  is: 40,630,036,000,000 Dinar or 40.6 Trillion Dinar.

 

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[dontlop]

That's good info markinsa

That's why they ignore that 80 trillion figure

They have only issued 40 trillion dinar the rest is listed in dinar but are not dinar they are deposits of the banks in iraq which could be hard currency deposits

So I withdraw my 80 trillion liability of iraqi dinar and am back to 40 trillion

That's a big differance

Half off

Thanks

For keeping my head on straight

[Markinsa]

That's good info markinsa

That's why they ignore that 80 trillion figure

They have only issued 40 trillion dinar the rest is listed in dinar but are not dinar they are deposits of the banks in iraq which could be hard currency deposits

So I withdraw my 80 trillion liability of iraqi dinar and am back to 40 trillion

That's a big differance

Half off

Thanks

For keeping my head on straight

 

Check this out: 

 

http://www.cbi.iq/documents/Annual_2013.pdf

 

Start at page 17.

 

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[dontlop]

Thanks

That's going to keep me busy for awhile

I can't believe that's the first time I saw that

[rockfl9]

It shows M3 at 88T.  That was the end of 2013. Up 4+t for the year. Assume the same pace for 14 should be 82+ T today. Thats not even all the liabilities of the CBI in dinars. Now they do lump in foreign currency and we dont know accurately how much that is but I doubt it is as high as 25% as Rich Iraqis would likely stash their reserves out of country.

Assuming that as the best case the CBI could think it could cover the dinar at 1000:1.  Dont know if the IMF/BIS would agree.

[rockfl9]

Cuts back to 119T dinar I dont think they will get the report and approve it in the same day. A lot of blocs/provinces will not get what they expected. I read that the budget committee had more than a hundred interviews during their deliberations.

I think at least another week. But the natives are getting restless. 

[dontlop]

It's simple they are unleashing the private sector

[dontlop]

Putting things in the citizens hands including debt to build the private sector

The banks will loan money to the individuals in their name and new dinar will be created with the citizens word ( credit) as an asset of the bank or the ability to pay the loans back

The private sector is now going to be held responsible for the new money created and each individual will be given a credit rating and the better the credit rating the better the rates they get on their loans

If they lose their credit they got to earn it back by paying higher interest rates

They seem to be copying the western system or at least experimenting with it

Debt is being absorbed by the central bank

[rockfl9]

For 10+ years they have been looking for White Knights to come in and establish the public sector. Other than oil , no takers. Now I guess they realize  It has to be a home grown effort. But I dont see the skill base! It has to be things that are exportable and labor intensive. Construction and service industries wont do it.

[dontlop]

They will necessarily have to learn

It's there turn

[dontlop]

I guess I've succumb to fretfulness

[dontlop]

I'm thinking of manufacturing a machine kinda like a cross between a dishwasher and a car wash for hogs

I'll call it " hog wash "

I think I can make it affordable to farmers

I'll feed the hogs at one end and if they want to eat they will be required to go thru the hog wash on the way to the food

I feel these hogs aren't learning personal hygiene on their own so I'll help them

We all know they have a reputation of being dirty sloppy animals and I'm going to lobby for protection of these hogs

Right now they get hog slop and soon they will be wearing lipstick and perfumes

And high heels

And wigs

[rockfl9]

Very unusual . they voted one piece at a time . then threw it all together and announced PASSED..

Democratic.

NOW . lets see hoe they GET R DUN ?

[rockfl9]

They passed the budget . now what is the next excuse erh ah hurdle? Could it be the money is not there? Of course it could be  they  dont have enough DeLarue machines .. 

[dontlop]

First we got to see if obama extends 13033 it's very important

Ah ha ha ha

We need to know if obama is going to protect iraq from saddams debts

Their are some arabic country's that haven't forgiven those debt in the Paris agreement

So will iraqi funds abroad continue to be protected

Remember 13033 is why we get to buy dinar ah ha ha

May 22 each year 13033 expires

Start the countdown to the rv

I can't think of any other dates before that

Or will abadi have those debts paid off before then

I read they stopped payment to kuwait temporarily

[dinarbeleiver]

It was not difficult for Iraq to pass the budget - rock we now need a new topic. Also is any of your LOPSTER buddies coming back onto here under new names. If they are make sure they give a good sob story like their dog made them buy dinar

GO RV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[dontlop]

My three legged dog loves doughnuts by the dozen

He don't even chew them just inhaled them

If I put a dinar on the ground next to a doughnut he takes the doughnut every time

[dinarbeleiver]

My three legged dog loves doughnuts by the dozenHe don't even chew them just inhaled themIf I put a dinar on the ground next to a doughnut he takes the doughnut every time

My three legged dog loves doughnuts by the dozenHe don't even chew them just inhaled themIf I put a dinar on the ground next to a doughnut he takes the doughnut every time

awesome dontlop- what sort of dog do you own?

[dontlop]

Ya know

I was trying to figure it out and I just realized

It isn't a dog its a cow

No wonder it's getting so big

It relieved itself the other day and flooded the place

I thought something was wrong with it , no wonder

[dinarbeleiver]

Ya knowI was trying to figure it out and I just realizedIt isn't a dog its a cowNo wonder it's getting so bigIt relieved itself the other day and flooded the placeI thought something was wrong with it , no wonder

are you sure it's a cow ?

There are very big breeds of dogs about

LMAO