* $14 dinar per barrel price debunked?: G.E.T. 2/3/11

[rdb]

BAGHDAD – The Feed – A member of the National Alliance just Leopard that delay in approving the budget is due to high world oil prices.

He said Fahd told the news agency public opinion (and babysit): “The budget estimated on a barrel of oil at 73 Ajzbnspp 14 Iraqi dinars, and after rising the price of a barrel 75 and, after this increase became to increase the price of a barrel of dependent upon the budget.”

Indicating the following: “The gap will shrink the deficit and that the figures when they are replaced in turn will change the draft of the project.” N. إ E.

http://translate.goo…late.google.com

two Iraqis translated this article. They both said the same thing. The “14 Iraqi dinars” is not right. The words Iraqi dinars does not fit in the article. Must have been a misprint. The 14 is 14 percent. That is the budget deficit. They are proposing raising the oil value to 75 in order to cut the deficit. Hope that helps.

[RAL]

I'm not arguing with the above explanation - but where does a 14% price rise of oil fit anywhere into these figures ?????

[estephan]

not really , a 14% increase would put it at 83.22

however 73 divided by 14 equal 5.21

Edited February 4, 2011 by estephan

[RAL]

OK - my apologies - on a second reading my understanding of what was being said was incorrect ....

But where does that leave those that are claiming that the $5.21 appears in the Budget ???

Edited February 4, 2011 by RAL

[rdb]

not sure... just copied and pasted it... hopefully someone can figure out the confusion.

my apologies, i prolly should have posted in rumors section...

[keepmwlknfny]

BAGHDAD – The Feed – A member of the National Alliance just Leopard that delay in approving the budget is due to high world oil prices.

He said Fahd told the news agency public opinion (and babysit): “The budget estimated on a barrel of oil at 73 Ajzbnspp 14 Iraqi dinars, and after rising the price of a barrel 75 and, after this increase became to increase the price of a barrel of dependent upon the budget.”

Indicating the following: “The gap will shrink the deficit and that the figures when they are replaced in turn will change the draft of the project.” N. إ E.

http://translate.goo…late.google.com

two Iraqis translated this article. They both said the same thing. The “14 Iraqi dinars” is not right. The words Iraqi dinars does not fit in the article. Must have been a misprint. The 14 is 14 percent. That is the budget deficit. They are proposing raising the oil value to 75 in order to cut the deficit. Hope that helps.

Its so sad really how a misprint in an article turns into a dumbarse rumor that gets spread around to all the sites.......I guess the gurus are really digging for scraps right now with nothing going on.......

[rdb]

Its so sad really how a misprint in an article turns into a dumbarse rumor that gets spread around to all the sites.......I guess the gurus are really digging for scraps right now with nothing going on.......

i do believe we are extremely close, its just that rumor rate of $5.21 is incorrect "if" this post is true... i would love to see $5.21....

Makeithappen

[keepmwlknfny]

i do believe we are extremely close, its just that rumor rate of $5.21 is incorrect "if" this post is true... i would love to see $5.21....

Makeithappen

Of course the post is true my dude.....yea we are close....but not THAT close....we will have months to go still.....heck the rate alone should have been a clue its not true......we WONT see anything over 2 dollars to start......and you can take that to the bank!!! Its just not goin to happen that way although of course I wish I could be wrong but thats just the reality of things.....

[estephan]

“The budget estimated on a barrel of oil at 73 Ajzbnspp 14 Iraqi dinars, and after rising the price of a barrel 75

Where is this number 75 coming from? Its nonsensicle ! Can't reconcile this

[ScottF]

Guys, ...Guys,... the 14 percent alluded to in translation references the percentage of deficit in the budget.

In their previous budget drafts, they talked about 2011 earnings set at aprox. $69 Billion dollars. Unfortunately however, they're projected spending in the fiscal year is slated to be around $83 Billion. Thus leaving a 14% budget deficit.

Which, is why they've been talking about raising the price-per-barrel income parameter from $73.00/bbl to $75.00/bbl, to help bridge the deficit spending gap.

[aferriss]

Its so sad really how a misprint in an article turns into a dumbarse rumor that gets spread around to all the sites.......I guess the gurus are really digging for scraps right now with nothing going on.......

Right now everyone, including the Iraqi citizens, are playing the waiting game. Scraps is definitely the word!!

[ScottF]

By the Way, this would also debunk Okie's call of a $5.21 rate. He's basing his fuzzy math on the same numbers taken from that article he was presuming to be the budget...(14 Iraqi Dinars per barrel).

This is a big forum an community. It's kind of like the old game of gathering folks in a circle, start a rumor and by the time its gone full circle, see what you have at the end.

[estephan]

In their previous budget drafts, they talked about 2011 earnings set at aprox. $69 Billion dollars. Unfortunately however, they're projected spending in the fiscal year is slated to be around $83 Billion. Thus leaving a 14% budget deficit.

Scott , there was never a $69b budget number , sorry go fish

[believer2]

I have only one question please. What are the most trusted websites for legitimate information?? At this point, I'm scared to believe anything!!

[Carrello]

Of course the post is true my dude.....yea we are close....but not THAT close....we will have months to go still.....heck the rate alone should have been a clue its not true......we WONT see anything over 2 dollars to start......and you can take that to the bank!!! Its just not goin to happen that way although of course I wish I could be wrong but thats just the reality of things.....

keepmwlknfny, this is a question and not a bash: I know you have written about the $2 start before. Is there somewhere I can go to read your analysis for this rate, please.

Thank you.

[Keipher]

Believer, you are safe here. All the rumors end up here anyway, and then debunked. The other sites may get the rumors first, but we get the truth first.

[Jim1cor13]

Of course the post is true my dude.....yea we are close....but not THAT close....we will have months to go still.....heck the rate alone should have been a clue its not true......we WONT see anything over 2 dollars to start......and you can take that to the bank!!! Its just not goin to happen that way although of course I wish I could be wrong but thats just the reality of things.....

I agree keepm. A few more months, minimum, but it would be nice if it was sooner

When I saw the 5.21 rate posted with the claims "it was done", it was another shaking of the head

in disbelief and sad things must be handled this way.

All my best!

Jim

--

[dreardon]

If this was actually a legit article then why do people take the credibility away?

No one seems to be able to explain what the 14 means, shouldn't that be easy to explain if it wan't the rate?

Scott, even if that is right with a budget of 69 billion and spending estimated at 83 that is only a difference of 14 billion the percentage would be 16.8%.

The other theory of 14% between 73 and rising it to 75 isn't right either.

If they indeed were taking about percentage changes then wouldnt percentage be there?

Does anyone have a legit explaination?

Other wise i chose to believe that it would be the rate.

Am i wrong in thinking that?

[youliveonce]

$14/barrel oil seems kind of high to me.

[fnbplanet]

Here's the problem with this whole thread:

First, there is a still inexplicable $5.21 rate shown clearly in the article. (Not sayin' it's true)

Second, NOBODY has really, really explained it. (Sorry Scott, your reasoning didn't pass muster w/o facts)

Thirdly, and just as rediculous as this number ($5.21) would be for an RV, as fast as it was put forth as a rate slip, it was just as stupidly (meaning without reason or explanation) ACCEPTED AS FACT THAT IT WAS "DEBUNKED", which it hasn't been.

It still appears in the article that "14 dinars" was placed next to the "$73" as a comparable rate to dinars. It has yet to be explained or "debunked".

AGAIN, not sayin' that it's factual proof of the rate, but not sayin' it's not either.

Wanna bash this? Show me proof, or you're no better.

[umbertino]

Of course the post is true my dude.....yea we are close....but not THAT close....we will have months to go still.....heck the rate alone should have been a clue its not true......we WONT see anything over 2 dollars to start......and you can take that to the bank!!! Its just not goin to happen that way although of course I wish I could be wrong but thats just the reality of things.....

Heck, I would love 2 dollars myself.....It'd be a dream come true........Hey, I'd be happy with 0.50 right here right now. I'd strike it rich with that rate.........It's still all speculation .....Shoot, .We don't even know yet if they're going to create a new Currency (God Forbid) and shaft us royally with that infamous 25k turning magically into 25 IQD.....Hopefully not..........So .I do not even take into consideration those $5 plus exchange rates. It is pure science-fiction..... I'll say it again. Just gimme 0.50 (or even 0.40) and I'm outta here for good....Word of tired Investor.

[DaveNC]

I agree with fnbplanet this has not been debunked. May be a slip that was not intended on record or disinformation. Just because you thank this rate is to high dose not debunk this article. Percent dose not work no matter how you use it in the paragraph.

[umbertino]

sorry, double post

Edited February 5, 2011 by umbertino

[PacoTaco]

There is no proof either way as of now saying for 100% sure what the $14 is or does. I don't think we will see $5.21 per Dinar but I would love to eat crow on that. I have seen some crazy stuff in my life so...I will keep my mind open to all these possibilities, but stay grounded with what I really think we will see in the range of .30-.90 per dinar.

Hope for an RV before 2012 so we have time to spend before the end!!!!!

[umbertino]

There is no proof either way as of now saying for 100% sure what the $14 is or does. I don't think we will see $5.21 per Dinar but I would love to eat crow on that. I have seen some crazy stuff in my life so...I will keep my mind open to all these possibilities, but stay grounded with what I really think we will see in the range of .30-.90 per dinar.

Hope for an RV before 2012 so we have time to spend before the end!!!!!

Agreed on all accounts. Thanks.

Edited February 5, 2011 by umbertino