JARV & Others Chat: DS - 1/8/2011

[ronscarpa]

JARV & Others Chat: DS - 1/8/2011

12:02 AM [JARV] I like numbers and have worked on many budgets in my past

12:02 AM [JARV] but I know he knows the correct forumla to pop into place

12:03 AM [JARV] with out even a second guess

12:03 AM [KingWm] 93 billion Iraqi dinars (79.6 billion dollars) = 86 cents

12:04 AM [KingWm] 93/79.6=1.17

12:04 AM [KingWm] howdy

12:04 AM [JARV] and even if you do the math on the next paragraph it comes out as that total

12:04 AM [KingWm] so 1 dinar = 86 cents

12:04 AM [JARV] in this draft budget it does

12:04 AM [natef250] I used the numbers from the contract that was posted the other day and had a rate of 1.03

12:05 AM [KingWm] 14 billion dinars (about $ 12 billion) same thing

12:05 AM [JRCivic] ok, so the question is… is this an indicator of “the removal of 3 zeros” or merely an error in verbiage ???

12:05 AM [natef250] it was posted with euro tho ,,,, so I had to canvert it twicw

12:05 AM [natef250] twice****

12:05 AM [JARV] Now I have read many articles on different budgets coming from

12:06 AM [JARV] Iraq

12:06 AM [KingWm] idk JR but looks like the rate to me…that is what all the articles have said

12:06 AM [JARV] and we have done the forumla in the past and it was always even

12:06 AM [JARV] Never seen it built in

12:06 AM [JARV] has anyone else?

12:06 AM [JRCivic] certainly possible KingWm

12:07 AM [JARV] interesting isn’t!

12:07 AM [JARV] Now it does say draft budget

12:07 AM [JARV] so that means it has to go to parliment 3 times

12:07 AM [JRCivic] yes it is JARV… thank you for sharing

12:07 AM [JARV] and things could change

12:08 AM [KingWm] how big was last year’s budget in USD?

12:08 AM [JRCivic] things ALWAYS change in Iraq

12:08 AM [JARV] but right now its the best thing I have seen that screams rv!

12:08 AM [JRCivic] 72 Billion KingWm

12:09 AM [KingWm] it sounds very reasonable to me…and i know you like reason, huh JRCivic

12:09 AM [JRCivic] yes I do king

12:09 AM [JARV] JRC likes it in black and white

12:09 AM [KingWm] i would be dissapointed, i must admit, but i would take it and run

12:09 AM [JRCivic] my only pause with this article is simply this:

12:09 AM [JARV] and a calculator

12:10 AM [JRCivic] it uses very generic values instead of specific ones… and sometimes that changes the translation.

12:10 AM [JRCivic] for example

12:11 AM [JRCivic] we have seen articles that say that the projected budget is set at 93,136 Billion IQD

12:12 AM [JRCivic] which is ACTUALLY 93.1 Trillion IQD… so if you round the numbers, and leave out some digits… it could merely be a failure to change the quantitative term.

12:12 AM [JRCivic] OR

12:12 AM [JRCivic] It truly could be exactly what we have been waiting for !!!

12:13 AM [JARV] What does it come out as if you change the number JRC?

12:13 AM [JRCivic] KingWm… stop being so **** greedy !!! 86 cents would be an AMAZING return buddy

12:13 AM [JRCivic] what do you mean JARV ???

12:14 AM [JARV] change the quantitiative term on this article

12:14 AM [JARV] can you

12:14 AM [rayder] JRCivic ur not serious r u would be nice but that rate??

12:15 AM [JARV] What I think is interesting if you keep reading it gives you number for the money they are lacking also and if you do the formula on those numbers it also comes out at that rate.

12:15 AM [JRCivic] if you insert the term Trillion in place of the term Billion everywhere where Dinar is quoted…

12:15 AM [JRCivic] the rate is the SAME as it is today… 1170 IQD to the dollar

12:16 AM [JRCivic] KingWm’s I mean

12:16 AM [JRCivic] what rate rayder ???

12:16 AM [KingWm] they are spending more this year

12:17 AM [KingWm] you said 72bn last year, it is 79bn this year

12:17 AM [KingWm] sorry JR, I am emailing that article to someone

12:17 AM [GoatLab] JRC what is the significance of the price per barrel in this article?

12:17 AM [JRCivic] yes king… a slight increase… just like we do here

12:18 AM [JARV] Goat you know I wondered the same thing

12:18 AM [JRCivic] none GoatLab… except to generate a basis to discuss the surplus/deficit values projected for the year.

12:19 AM [GoatLab] So it isn’t tied to any estimated production level?

12:19 AM [JRCivic] well of course.

12:19 AM [JRCivic] assume that production is 2.25 million barrels per day

12:20 AM [KingWm] JRCivic exactly, oil price no matter IMO

12:20 AM [JRCivic] at $73 per barrel, that generates $60 Billion in revenue per year

12:20 AM [GoatLab] So given that oil is north of $88, in your opinion, does that have any bearing on the rv rate?

12:21 AM [JRCivic] none at all

12:21 AM [KingWm] i have been hearing that oil is going to 200 per barrel soon

12:21 AM [JRCivic] it is $$$ that gets lost in the math

12:21 AM [JRCivic] check this out, ok

12:22 AM [JRCivic] lets assume that oil prices FREEZE at $92 per barrel for the rest of 2011.

12:22 AM [GoatLab] “Energy Costs under my plan would neccesarily sky rocket.” Obama

12:22 AM [JRCivic] right now, Iraq is claiming that they have a 12 Billion USD deficit in their projected budget

12:24 AM [JRCivic] however, with no increase in oil production… 2.25 million barrels per day at $92 per barrel generate $75.55 Billion in revenue… which would shrink the deficit from 12 Billion to only 3.45 Billion USD

12:25 AM [dmitch] The central bank adviser: Iraq before a historic opportunity for economic growth viewtopic.php?f=12&t=20297

12:25 AM [GoatLab] So you are suggesting drill for oil is a money maker. Maybe we should do that here in the US LOL.

12:25 AM [JRCivic] but watch toward the end of this year and see if Iraq is still claiming a 12 Billion USD deficit

12:25 AM [JRCivic] Novel idea Goatlab

12:26 AM [JRCivic] in 2010, Iraq claimed a large deficit in their budget… and they borrowed $$$ from the IMF, WB and Japan to help make up this shortfall.

12:27 AM [JRCivic] The budget was based on an oil price of $70 in 2010.

12:27 AM [JRCivic] There was not a SINGLE day in which oil was BELOW the price of $70

12:28 AM [JRCivic] assuming that the price steadily rose over the year to today’s price of $92…

12:28 AM [KingWm] iraq has 67.6bn + 12bn deficit = 79.6bn total budget…at 73 per barrel…so at 92 per barrel…92/73=1.26 * 67.6bn = 85.17bn = ±5.6bn surplus

12:30 AM [JRCivic] that would generate an average of $4 Billion USD more in revenue that hasn’t been talked about at all !!!

12:31 AM [JRCivic] So, where did that $4 Billion go ???

12:31 AM [KingWm] JR they spent it

12:32 AM [KingWm] oops that was for Jarv

12:32 AM [JRCivic] or HID it… all of the crooked peeps in Iraq

12:32 AM [JARV] Thanks Kimg

12:32 AM [lgtennis] imo i believe the rate will be close to kuwaits!!!

12:32 AM [KingWm] JARV who knows for sure…but something is certainly wrong…

12:33 AM [JARV] I agree

12:34 AM [JRCivic] nothing wrong with dreaming tennis

12:34 AM [dmitch] I believe it will be closer to the Euro.

12:35 AM [JARV] No one knows dmitch what it will be remember this is just a draft

12:38 AM [dmitch] yes, I remember JARV…just throwing out that…trying to keep it real…not under or over-rated

[Econman33]

I just pointed out in another post that the budget says Kurds get 17% or 12 Trillion and 600 Billion in last paragraph of article. Sorry.

[Rome M]

That was what they currently receive, as in 2010 budget. he new budget has not been approved, they have not received anything of the new numbers. The last sentence is merely stating what they got before this new budget goes into place.