The Budget and the RV

[andy3978]

If the GOI is drawing up a budget to base fiscal year 2011 off of, wouldn't they NEED to know what their exchange rate is going to be? I mean do we go food shopping without knowing how much money we have to spend?

I know they are coming so kindly refrain from any wise a$$ remarks along the lines of 'I have my credit card with me in case I need it' or 'Obama spends like a drunken sailor without knowing how much money we have' etc etc...

This is a sincere question which leads me to the obvious conclusion that in order to draft the budget they need to know what their money is going to be worth and maybe more importantly they need to IMPLEMENT the new rate in order to make the budget work.

Does this sound plausible?

[easyrider]

of course tis is plausable. It's only logical they need to know the exchange rate before they vote and approve and raify the budget. Glad someone has figurd it out. good post.

[JMACK]

THIS IS WHAT WE NEED ALL TO BE ON THE SAME PAGE,,,,,,,,,,,,,

THANKS GO R.V.

[rayh56]

THE BUDGET IS BASED ON DOLLARS. OIL IS BASED ON DOLLARS, WHICH IS THE BASIS OF THERE INCOME.

[NWGUY]

You are asking the BIG question, that also goes along with RATE, and DATE question. No one really knows at this time. You would think that would be the case, but is not a guarantee. We are under the assumption that the rate is in the budget, because of the exact reason you ask, and I think that they are stalling on the budget until the government is seated, so that they don't have to disclose that. This is the reason I think that we will have the announcement on the GOI, and the budget immediately after. They are very shrewd people, but they have actually hit the wall on the time table IMHO. It is GO time for them, and they have very liitle time left. So look for the GOI being done soon, and like I said before, they will procrastinate on the budget until that is done. Sure they will make up a lot of excuses for waiting, but I am very sure that the true reason is they don't want to divulge the rate in the budget until they have the government. JMO....Go RV!

[Darin]

I am starting to wonder if the delays are pushing the budget out because they wish to do so w/ a full-seated government (All ministries filled & seated).

By doing this, they could vote upon the budget w/ the new rates.

But with that said, imagine how much info would of likely leaked....

It would explain some of the pumping... But, I can't see someone risking leaking that info.

Who knows, I'll sit back and watch the show.

[andy3978]

I'm having a hard time wrapping my arms around this situation. Could these people really be that ignorant? Maliki has been stalling the ministers for God knows how long now. If this was the private sector he's have been thrown out the window by now. By stalling the GOI (being 100% seated) he is stalling the budget, then the RV, and consequently the Iraqi people. I'm surprised there hasnt been a revolt sooner.

I'm starting to wonder if the GOI is really calling the shots here. The players we hear about...M, A, B, Shabs---they might just be puppets on a string. I'm not going to bring up the Illuminati etc, but I wonder if it is really something like the US, UN, IMF etc really being the ones who hold the cards?

[Nitrobuzz]

I agree NWguy! Rate, budget and GOI all rolled up in one nice package. And what a lot of DV members don't understand is American time versus Iraqi time. Because of cultural and other factors, they aren't like Americans when it comes to business schedules or any other for that matter. We are "I'll be there at 4pm" and that's what time you'd be expected to arrive. As you can see from the endless delays they don't think or operate that way. But, it doesn't mean it won't get done. It will get done but only on their time. Even with all of the external pressure brought to bear on them now they're still going at Iraqi speed and no other.

Be patient the RV is coming

[andy3978]

IMO they are out of time. The big protest is scheduled for 10 days from now. I cannot fathom how they can not have this whole deal wrapped up tightly before that rally. How can they face their people...how can they claim any legitimacy whatsoever if they cannot complete these simple tasks? They need to have some real and concrete answers and solutions made public before the rally. Ration cards don't cut it anymore. The people are pissed and rightfully so.

And to address the 'Iraq time'...yes it's true they are doing things on their watch...but when the whole damn world has been spoon feeding them for almost a decade...show a little respect and make things happen. If they want to become a real country and play with the big dogs they better man up already.

If they can't get their stuff in order before the rally, then they deserve every single solitary thing the Iraqi people are going to give to them...torches and nooses included

[JuryPicker]

You are asking the BIG question, that also goes along with RATE, and DATE question. No one really knows at this time. You would think that would be the case, but is not a guarantee. We are under the assumption that the rate is in the budget, because of the exact reason you ask, and I think that they are stalling on the budget until the government is seated, so that they don't have to disclose that. This is the reason I think that we will have the announcement on the GOI, and the budget immediately after. They are very shrewd people, but they have actually hit the wall on the time table IMHO. It is GO time for them, and they have very liitle time left. So look for the GOI being done soon, and like I said before, they will procrastinate on the budget until that is done. Sure they will make up a lot of excuses for waiting, but I am very sure that the true reason is they don't want to divulge the rate in the budget until they have the government. JMO....Go RV!

Thank You. Finally a post I can agree with. Pure Stall Strategy

[BanG]

I'm having a hard time wrapping my arms around this situation. Could these people really be that ignorant? Maliki has been stalling the ministers for God knows how long now. If this was the private sector he's have been thrown out the window by now. By stalling the GOI (being 100% seated) he is stalling the budget, then the RV, and consequently the Iraqi people. I'm surprised there hasnt been a revolt sooner.

I'm starting to wonder if the GOI is really calling the shots here. The players we hear about...M, A, B, Shabs---they might just be puppets on a string. I'm not going to bring up the Illuminati etc, but I wonder if it is really something like the US, UN, IMF etc really being the ones who hold the cards?

Having served in the ME the answer to your first question is YES! These people operate on 3 things over there, Control, Greed and religious party. They can be so frustrating to deal with. JMO.

[beau777]

Here is your exchange rate 1170 IQD = 1 USD

What else do they need to know before they fiqure the budget?

[Jim1cor13]

Here is your exchange rate 1170 IQD = 1 USD

What else do they need to know before they fiqure the budget?

Thank you beau777. That is indeed the bottom line and their exchange rate no matter

how much it does not make sense, they DO in fact know their rate and at this time it

is 1170 IQD = 1 USD

Thanks andy for the post. I understand your thoughts and that so much of what

they are doing does not always make sense to us, but we are not there, in the middle

of what they have to deal with. I do not think they are running out of time as much as

they are running out of excuses for not improving the lives of their citizens. If we keep in mind

WHO this is about (and it is not about "us"), our hope should be for the people to realize an

improved standard of living, better employment opportunities, etc., and then *maybe*, those of us

who have invested in this speculation might be pleasantly surprised one day.

They are headed in the right direction, but I am concerned that they simply are not ready yet

to revalue their currency, no matter what we think makes sense. It will work out eventually,

but there is no "drop dead date" for this to happen. It has been 7 years and they are in no hurry to

revalue yet. For the sake of the citizens, I certainly HOPE they make the right decision and at least

take the initial step to enhance and appreciate the value of their currency, even if it is a slow and steady

revaluation, at least it is a start to some improvements within their country.

All my best!

Jim

---

Edited February 15, 2011 by Jim1cor13

[andy3978]

Here is your exchange rate 1170 IQD = 1 USD

What else do they need to know before they fiqure the budget?

I know thats what the CBI says. But we all know that it is a worthless figure...just ask the Iraqi citizens who have these pieces of paper in their pockets that have no purchasing power. Also how much wheeling and dealing can M do Thursday at the GCC meeting with a currency that can double as a Kleenex?

The thought you present is only valid if the GOI & CBI has no intent of RV'ing their currency; only THEN can they base the 2011 budget on 1170.

[sandyf]

I think a lot of the problem has been Kuwait. They wanted paid with pre RV dinars and Iraq wanted to pay post RV.

I suspect that a deal was struck some time ago, when kuwait gave the citizens a bonus.

Probably there has been some problem in financing the deal and I think Maliki has stalled on the security issue to possibly exercise some control in the matter.

Hopefully this has been cleared up and today's meeting will put it to bed and everything will move forward.

[coldwarvet]

Having spent time during my military career at both the Pentagon and the Air Force Personnel Center, and participated in the Air Force budget planning process on both assignments, I can tell you unequivocally that the budget planning figures for ANY government's budget do not necessaarily have to reflect reality. Just look at the budget Obama released for 2012! Those numbers are for planning purposes only, and do not have to reflect reality. IMO the RI/RV number will ultimately be called by CBI Governor Shabibi - with a lot of help from the UN, IMF, World Bank, US, etc., taking into consideration a whole host of factors that are not reflected in the budget. In other words, it's fruitless for any of us to speculate on this number. IMO it'll be a good number, and we'll all make money. That's enough for me.

[wishwell11]

Thank you beau777. That is indeed the bottom line and their exchange rate no matter

how much it does not make sense, they DO in fact know their rate and at this time it

is 1170 IQD = 1 USD

Thanks andy for the post. I understand your thoughts and that so much of what

they are doing does not always make sense to us, but we are not there, in the middle

of what they have to deal with. I do not think they are running out of time as much as

they are running out of excuses for not improving the lives of their citizens. If we keep in mind

WHO this is about (and it is not about "us"), our hope should be for the people to realize an

improved standard of living, better employment opportunities, etc., and then *maybe*, those of us

who have invested in this speculation might be pleasantly surprised one day.

They are headed in the right direction, but I am concerned that they simply are not ready yet

to revalue their currency, no matter what we think makes sense. It will work out eventually,

but there is no "drop dead date" for this to happen. It has been 7 years and they are in no hurry to

revalue yet. For the sake of the citizens, I certainly HOPE they make the right decision and at least

take the initial step to enhance and appreciate the value of their currency, even if it is a slow and steady

revaluation, at least it is a start to some improvements within their country.

All my best!

Jim

---

EXCUSE the Ramble...but this is what happens when you invest your heart as well.

But I think it IS about US as well. All OF US!!!

I believe in investing in Iraq.and my country that supported them.....thats what sold me. I don't do lotto or gamble in Vegas..I was sold to invest in a country that supposedly holds dignity, ethics and strong resources.

I can't tell you how many mothers and children of soldiers I consoled at work and wept and prayed along with them while they worried for their sons and daughters serving in the ME and for our country. Every day for a while I helped coordinate shipping personal items back home to the family of sons and daughters who would be less fortunate unlike their personal items which made it back home...sadly the soldiers did not.

I do cry for the suffering people of Iraq. I can't even fathom the pain and losses and miniute by minute challenges while hope fades by the second. On a side note, as a US citizen, I am hungry too and close to homeless! Many of us are and suffering with the economy and 911 left me jobless with the airlines that took devestating hits with 911 and eventually closed.

I fight to keep utilities on and feel like I've hit paydirt when I have managed to rob Peter to pay Paul and pay the disconnects.

I've had a taste of what it's like without power and utilities for weeks, eaten crackers for dinner many times. It is miserable for a family of 4. I can't imagine what they're going through daily.

My little holdings of dinar was a gift to them from the average person who believes in investing in Iraq and the US citizens that were led to support them and continue to feel and live with the hardships as a result of our supporting efforts. A understood risk yes, but the more I read and understand...Actually I expect its really less a risk than originally thought compared to many investments . There is without doubt, a need to display strong ethical decisions, the potential

resources, the message to EXISTING and FUTURE investors and an opportunity for the elected officials to prove right by those who voted some risking their lives, to do so...for US officials to get crash land get humble to the people and families who lost their loved ones supporting their venture.

Back home the debt and industry challenges partially from our involvement to assist ME and our economy hasn't stopped at my generation but reaches beyond , to touch my childrens and my aging mothers generation whose savings for her golden days have been wiped clean and now loosing the homestead as well.

We have ALL been touched by this.....It is about ALL of US and there are those that hold the cards to give everyone a bit of their sunshine that they experience daily. Atleast to enable us to stop stressing over OUR basic survival as well.

While I would like to dream of the good life with a good RV...I'm more elated at the thought of not having to face that if I buy a small amount of groceries, I don't make my mortage and face forclosure.

After 911 and the hit my airline employment took, then the economy decline... I have taken a job that in my 30 years of working, pays little more than what I made at 16 when gas was 1.00 per gallon. 30 yrs later, savings gone, childrens college education threatened and I'm tired and older and working 5 x's harder for it. Paying 3.50 a gallon to get to work in my 15 yr old car takes 1/4 of my check. We are all doing our part to extend patience and toleration.

Its ANOTHER type of investment to Iraq....A piece of me that I didn't sign up to serve, has no benefits but do.

IMO, I say those in control, if not answering and exceeding expectations to change our level of existance...to us ALL... around the world.. I would hate to be them..as one day ...they will be accountable on a personal level to their moral convictions, if not answering to their maker ..eventually.... and with that, I am thankful that as tough as things are, I'd rather continue facing these daily struggles than answering to greed and narsistic interests.

For those who are or have served in the military or assisted, I thank you for your service. I hope the governments make a point to make it right, and let it be shown in the history books..

.I hope actions are louder than words before they convince future generations , reconsideration might be in order before they follow through with their honerable plans of serving the "people" and countries for the better?

Passionately MHO

[wishwell11]

IMO, I say those in control, if not answering and exceeding expectations to change our level of existance...to us ALL... around the world.. I would hate to be them..as one day ...they will be accountable on a personal level to their moral convictions, if not answering to their maker ..eventually.... and with that, I am thankful that as tough as things are, I'd rather continue facing these daily struggles than answering to greed and narsistic interests.

And dropping zeros then a reval (technically not a traditional lop)...saying its good for their people...everyone should be happy.??

This is insulting. Watch if not understood, then shaming those that don't agree.

Understand this move needs to be monumental...its a message to the average person now.

Its not time for gradual. Put disorganization, procrastination, narcistic mindsets on the shelfA message with action with big results to put their money where there mouth is. Otherwise, it won't be long before the fragile Iraq speculators of any type, join the ever growning group of die-hard skeptics and their people will see they take a few steps back or fall for some other type of group soliciting a new government by royally rewarding

them from the getgo...I guess Iraq is proving to have a PUMPER government...with empty promises, a refusal to assist and educate and a tiny tiny return.

Would Iraq find it acceptable if our soldiers gradually...slowly gave their efforts?...Expect Iraqi people.to be happy they're gradually starving....Expect USA to act and give us hypotheticals, promises..sudden inflation..all supporting drop zero for the people efforts...GRRRR Govt. PUMPERS ....SUPRISE US!

Ok, I'm done...GO RV..Have a Good Day!

[Tricia01]

I wonder if they did set an RV rate with the budget, but they haven't announced it yet since the budget still needs to be voted and agreed upon. Rumour has it they will not vote on the budget until later this month. It's kind of confusing!