2011 budget Approval... Could it BE ???

[tobias1995bmw]

There is no RV in the budget. The CBI is waiting for the sitting of the government to ask for funds and permission to redenominate the dinar. This will probably happen in early 2011.

There is no way this thing will RV that late. I just don's believe the world can wait that long, sorry buddy.

[ThankAVet]

This could be the day...... oh, this could be the day..... when the Rv is made public. Keep watching.

Let's hope so.

Quick! Someone call Ali and have him get his offices up and running!

DD - better get that text service warmed up!

[KIMT]

Let's hope so.

I agree 100%. I am so ready for this. It seem like they are getting alot of things done without the whole world knowing. If they have approved the budget, then maybe just maybe we will all have a wonderful Thanksgiving.

[wmawhite]

There is no RV in the budget. The CBI is waiting for the sitting of the government to ask for funds and permission to redenominate the dinar. This will probably happen in early 2011.

What has Mr. Shabibi said numerous times he will do during 2010?

Answer: The IQD will be redenominated by the end of 2010.

[vibo]

Here comes Okie with a leaked rate..........................

[greebs]

Redenominate equals a lop not a RV. No loss or gain in value.

Edited November 23, 2010 by greebs

[hopeful1]

Thanks for the post fishman. This could really big for us. Have a Great Day!

[ThankAVet]

Here comes Okie with a leaked rate..........................

$12.61

I found it interesting that on the call last night, one of the guys said that TK (and I believe Okie as well) were actually very close in their numbers and only 30 minutes away from it happening at one point.

That was certainly a bit odd to hear those guys give credibility to those two....

[Drez]

This week is looking good on a lot of fronts, everyone sit back and relax as this ride comes to an end.

[TJS11]

Ditto that, ftruck7!

[Jon S.]

I still want/need to know if anyone saw the news article of Iraq's infaltion going to 3.2% or 3.8% for October? It was on my homepage this morning, but now it's gone. Has anyone seen anything of this nature? When I posted it in the forum, k98 said the link didn't work. And when I tried it,it didn't for me either...and the link was gone when I went back to my homepage. I am very curious about an inflation article, because doesn't that impact the possibility of a LOP? Sorry for the illegal "L" word, but I want to be mentally prepared for anything. Is a 3.(?)% interest big, and increasing a LOP possibility? I will do a google search for this too.

Here it is, let's see if this link works-

http://www.menafn.com/qn_news_story_s.asp?StoryId=1093378701

Dangit, that link not working either.

Just do a google search for "Iraq inflation in October", it will come up and you can read it there.

Here is another one... http://www.ameinfo.com/249462.html

It all says it is up to 3.2%

Just tried it, that one works

LOP's only happen when there is Hyperinflation. Iraq will not LOP plus the IMF and UN would not allow it and continue to provide them loans. I hope the link below helps also.

http://en.wikipedia.org/wiki/Hyperinflation

In economics, hyperinflation is inflation that is very high or "out of control". While the real values of the specific economic items generally stay the same in terms of relatively stable foreign currencies, in hyperinflationary conditions the general price level within a specific economy increases rapidly as the functional or internal currency, as opposed to a foreign currency, loses its real value very quickly, normally at an accelerating rate. Definitions used vary from the International Accounting Standards Board´s a cumulative inflation rate over three years approaching 100% (26% per annum compounded for three years in a row) to Cagan´s (1956) "inflation exceeding 50% a month." As a rule of thumb, normal monthly and annual low inflation and deflation are reported per month, while under hyperinflation the general price level could rise by 5 or 10% or even much more every day.

Edited November 23, 2010 by Jon S.

[cplinedrive]

There is no RV in the budget. The CBI is waiting for the sitting of the government to ask for funds and permission to redenominate the dinar. This will probably happen in early 2011.

The IMF, CBI, MOF and the GOI are all talking about it in Parliment. They need to come to an agreement on the RV. Maybe they have agreed on it as we speak. The WILL BE an RV in the budget.

[tobias1995bmw]

Yeah no LOP. They will remove the three zeros to help ease transactions and trade your 25,000 note for 1,000 25 dollar notes. I also think they will RV at the same time. They WILL HONOR all their notes.

[kamm]

Thanks for the post fishman. Keep getting us the good stuff. Steve

[utopia193]

Cgbrown...you are absolutely correct...It could very well happen as early as tonight...I'm not stating it will happen, I'm just stating it could happen...I truely believe a November date for sure...and yes, of 2010...Lets keep being positive!!!

[John54]

i am still trying to figure out how you determine a rate from a budget amount of say 86 billion or so. Do you actually think they would put a rate in there before they RV and show us the amount, all the zillionaires in the world would buy dinar. For some reason they are dragging there feet and no one knows why. Why would they let there country suffer so long knowing they have the funds to RV? Can the Gurus answer that ?. Thuming there noses at the IMF? The UN? Can we at least hear some opinions on this from the contacts we have on here if any is left.....thanks....

[carlablum]

I still want/need to know if anyone saw the news article of Iraq's infaltion going to 3.2% or 3.8% for October? It was on my homepage this morning, but now it's gone. Has anyone seen anything of this nature? When I posted it in the forum, k98 said the link didn't work. And when I tried it,it didn't for me either...and the link was gone when I went back to my homepage. I am very curious about an inflation article, because doesn't that impact the possibility of a LOP? Sorry for the illegal "L" word, but I want to be mentally prepared for anything. Is a 3.(?)% interest big, and increasing a LOP possibility? I will do a google search for this too.

Here it is, let's see if this link works-

http://www.menafn.co...ryId=1093378701

Dangit, that link not working either.

Just do a google search for "Iraq inflation in October", it will come up and you can read it there.

Here is another one... http://www.ameinfo.com/249462.html

It all says it is up to 3.2%

Just tried it, that one works

Economist: expect to achieve from the deletion of zeros from the currency as long as the production capacity in Iraq's semi-disabled

Chief Economic Forum Kurdistan Faisal Ali that the deletion of zeros from the Iraqi currency move is not in place, because there are many measures to be followed by the central government in building a prosperous economy in the productive sectors, agriculture, and added that as long as the production capacity in Iraq's semi-disabled there is no point of deleting the zeros .

He stressed on the NOAA Radio:

Tuesday, November 23, 2010

http://radionawa.com...1447&LinkID=155

Read more: http://dinarvets.com/forums/index.php?/topic/42510-economist-expect-to-achieve-from-the-deletion-of-zeros-from-the-currency-as-long-as-the-production-capacity-in-iraqs-semi-disabled/#ixzz167lK1gBQ

[I AM WEASEL!!!]

Posted Yesterday, 10:54 AM

Now thats a piece o news you can feel good about there...Great post lets hope it goes through the house without a hitch because inside that article lies the floor for more delays...and i quote

"the budget will take a long time in the House of Representatives for discussion and access to a comprehensive picture of them in particular with regard to the implementation of investment projects in the country."

If we can keep this in mind then when the delays start up we wont get so bent

.

Read more:

doesnt it still have to go through the house before its actually approved?

[ThankAVet]

Best to stay grounded this week. We've all been down this road before. Hopes go SKY HIGH only to end up with crabs and ice water.

It's sure hard to do.

[carlablum]

I still want/need to know if anyone saw the news article of Iraq's infaltion going to 3.2% or 3.8% for October? It was on my homepage this morning, but now it's gone. Has anyone seen anything of this nature? When I posted it in the forum, k98 said the link didn't work. And when I tried it,it didn't for me either...and the link was gone when I went back to my homepage. I am very curious about an inflation article, because doesn't that impact the possibility of a LOP? Sorry for the illegal "L" word, but I want to be mentally prepared for anything. Is a 3.(?)% interest big, and increasing a LOP possibility? I will do a google search for this too.

Here it is, let's see if this link works-

http://www.menafn.co...ryId=1093378701

Dangit, that link not working either.

Just do a google search for "Iraq inflation in October", it will come up and you can read it there.

Here is another one... http://www.ameinfo.com/249462.html

It all says it is up to 3.2%

Just tried it, that one works

Central Bank: inflation in Iraq, to 3.2 percent in October

Monday, 22 October 2 November 2010 22:36 | |

(Reuters) - The central bank official said on Monday that the core annual inflation rate in Iraq jumped to 3.2 percent in October from 1.9 percent in September due to rising costs of housing, water and electricity.

He said the Central Bank's senior adviser Qassem appearance that the rate of inflation remains under control.

According to World Bank figures, the rate of inflation in Iraq stood at 1.9 percent in August and September.

Iraq is struggling to revive its economy, which has been battered by years of war and international economic sanctions. The government relies on the huge revenues of its oil fields to fund about 95 percent of its budget.

And seeks the central bank to ease monetary policy and the promotion of bank credit to encourage investment and economic growth in the non-oil sector. And excludes the central bank spending on fuel when calculating the rate of core inflation.

http://www.theiraqiobservatory.com/observatories/economic-obs/574-------32----.html?catid=59%3Anational-income

[Halo9678]

2. Approval of the proposed state budget for the year 2011 (after the addition of what was agreed upon), which is made by the Ministry of Finance with the addition of $ 5 billion of investment projects financed through loans from the central bank and the revised version at the next meeting for approval in its final form.

Read more:

IMHO,

What I take from this is that the 2011 budget was discussed, some corrections have to be made, and that the revised budget will go for approval in its final form at the next meeting. Kinda like the "telephone game" that we played as kids. Yeah, even I botched that one up. My point being that we may be getting close but let's not put the cart before the horse. Discretion being the better part of valor, let us be keen to exercise some in the coming days.

[rick_jb]

Thanks for the post Fishman. GO RV

[ThankAVet]

Central Bank: inflation in Iraq, to 3.2 percent in October

Monday, 22 October 2 November 2010 22:36 | |

(Reuters) - The central bank official said on Monday that the core annual inflation rate in Iraq jumped to 3.2 percent in October from 1.9 percent in September due to rising costs of housing, water and electricity.

He said the Central Bank's senior adviser Qassem appearance that the rate of inflation remains under control.

According to World Bank figures, the rate of inflation in Iraq stood at 1.9 percent in August and September.

Iraq is struggling to revive its economy, which has been battered by years of war and international economic sanctions. The government relies on the huge revenues of its oil fields to fund about 95 percent of its budget.

And seeks the central bank to ease monetary policy and the promotion of bank credit to encourage investment and economic growth in the non-oil sector. And excludes the central bank spending on fuel when calculating the rate of core inflation.

http://www.theiraqiobservatory.com/observatories/economic-obs/574-------32----.html?catid=59%3Anational-income

This reply has been posted three times now in this thread.... Anyone for a fourth. Best to read the entire thread prior to replying.

[Aunt Bee]

Check Out the new Fireworks thread. Maybe it's approved ?

Edited November 23, 2010 by Aunt Bee

[nashdinar]

Thank you for this forward moving information of substance. We are getting closer. Stay grounded everyone.

Edited November 23, 2010 by nashdinar