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Ration Cards Trillion Dinars?


dreardon
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I was looking at news articles and one said that the parliament on sunday will "Agreement to support the ration card trillion dinars and the budget vote Sunday".

How can they through out a trillion dinars to the people. If they do this they the RV rate will be extremely low and close to what it is now.

If their reserves are 80 something US dollars then the RV would be way less then a dollar just basing it off of the amount of dinars inside the country.

Originally I heard there was only 26 billion dinars in Iraq and most were outside Iraq and that was the reason they could RV high.

This worries me because It is not making sense at all.

Anyone have any input on what is going on?

Article is below.

FEBRUARY 18, 2011 07:27 AM

Agreement to support the ration card trillion dinars and the budget vote Sunday

Posted: February 18, 2011 by THE CURRENCY NEWSHOUND – Just Hopin in Iraqi Dinar/Politics

Parliamentary source said Friday that the presidency of the Council of Representatives agreed with the heads of political blocs and the Finance Committee to present the law of the financial budget for the current year 2011 to a vote during the meeting next Sunday, while he noted that the conferees agreed to support the ration card trillion Iraqi dinars.

The source said in an interview with “Alsumaria News”, “The Iraqi parliament speaker Osama Najafi and his two deputies Qusay al-Suhail and Aref Tayfur agreed at their meeting this morning, with the heads of political blocs and the parliament’s finance committee to view the law of the financial budget for the current year 2011 to a vote at the meeting Parliament on Sunday. “

The source, who requested anonymity, that “the meeting discussed the paragraphs of the 13 federal budget in order of priority,” noting that “has been voting at the meeting to support the amount of the ration card trillion Iraqi dinars to provide five basic vocabulary.”

The source pointed out that “the conferees also agreed to support the social protection system and the development of the regions and the services sector, agriculture, and support students, and allocating a portion of imports of pilgrims to the provinces concerned,” explaining that “it was agreed that the ratio is operational 70% and investment 30%.”

The head of the Iraqi parliament Osama Najafi and his two deputies Qusay al-Suhail and Aref Tayfur held, this morning, meeting with the President of the Kurdistan Alliance bloc Fuad Masum, and the head of the Iraqi Salman Jumaili and deputy head of the National Alliance, Khaled al-Attiya and the head of the Virtue Ammar Tohma and the head of the Change Church Haji and Chairman of the Integrity Commission Bahaa al, Members of Parliament whose staff Muhsin al-Sadoun and Kanna addition to the Chairman of the Finance Committee Haider al-Abadi, its members and Finance Minister Rafie al-Issawi.

The Council of Representatives, on Thursday, its 34-headed Osama Najafi and the presence of 235 deputies, to draft the Supreme Judicial Council for second reading, and the continuation of the second reading of the draft federal budget law for the current year.

The Sadrists announced earlier that 130 deputies, mostly from the Sadrists and the Iraqi List, threatened not to vote on the law of the current year budget, in the absence of allocating 15% of the Iraqi people.

The cabinet approved on the sixth of February, the current budget for 2011 modified after an increase of three billion dollars to be worth 81.9 billion dollars with a deficit of 13.3 billion dollars will be covered by the amounts retained from the previous year’s budget and borrow internally and externally, noting that the total revenue estimator, 68 0.6 billion dollars, while operating expenses, ie salaries and wages in particular, by $ 56.4 billion, while the capital expenditures $ 25.4 billion, also pointed out that the calculation of income resulting from export of crude oil at a rate of 76.5 dollars per barrel at a rate of 2,000,200 thousand barrels per day, including 100 thousand barrels of the Kurdistan region.

And got “Alsumaria News”, Monday, the report of the parliamentary financial report to the House of Representatives on the bill on the federal budget for 2011, the Committee emphasized that the budget has focused on the priorities in the interest of the citizen and the country, and it does not meet all the needs of the Iraqis and the budget did not include report illustrates the extent of implementation of the stated objectives and the root causes of slow implementation, and whether or not the correct steps to address these causes.

The report said that the file of the budget did not provide information on the extent of implementation of previous budgets, in addition to its inability to estimate the data and information Almdorat cash and cash savings of annual and cumulative, so that could be adopted in the calculation of the deficit, and others, as the report pointed to the need to pursue additional means to address poverty, such as changing the way distribution of the ration card items, and the provision of minimum basic services, rehabilitation of industrial and agricultural sector, small businesses, support the private sector, stimulate the residential sector.

It is noteworthy that “Alsumaria News”, won in the ninth of February, the current, on the revised second draft general budget of the Federal Republic of Iraq for fiscal 2011, as last amended after the addition of three billion dollars, earmarked for investment projects of new and operating expenses of the ministries that were not related to the Ministry.

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This is what I have been asking everyone.

Where in the hell is Iraq getting the money to finance an RV. They are broke and living on loans and grants from other countries. They have been spending oil revenue they do not have and will not have for several months in the future. The canceled the F16 order because they didn't have the money and for some stupid reason people still believe they can just revalue their money at $3. We're lucky to see it revalue at 1penny if at all.....

This whole investment has been blown so out of proportion........WAKE UP PEOPLE

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How does the RV cost money... other than printing new smaller denom bills?

RV = revalue

meaning their money is worth more.

they are not BUYING a higher worth of money... it's simply... just... worth more.

Let's say I buy a 1967 427 corvette for $3000 in 1968 with CASH. I keep the car in the garage until this year and want to sell it. it has REVALUED to $300,000. I didn't pay $297,000 onto my $3000 to make it worth $300,000... it's simply just worth $300,000 now.

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How does the RV cost money... other than printing new smaller denom bills?

RV = revalue

meaning their money is worth more.

they are not BUYING a higher worth of money... it's simply... just... worth more.

Let's say I buy a 1967 427 corvette for $3000 in 1968 with CASH. I keep the car in the garage until this year and want to sell it. it has REVALUED to $300,000. I didn't pay $297,000 onto my $3000 to make it worth $300,000... it's simply just worth $300,000 now.

You do understand that you cant just make money worth whatever you want, it has to be backed up.

I mean why doesn't the US just RV there money to make one dollar worth a british pound.... :blink:

Let's say I buy a 1967 427 corvette for $3000 in 1968 with CASH. I keep the car in the garage until this year and want to sell it. it has REVALUED to $300,000. I didn't pay $297,000 onto my $3000 to make it worth $300,000... it's simply just worth $300,000 now.

Why did the corvette increase in value?

It increased because its very rare and beleive me the IQD is no 1967 427 corvette more like a 1980 pinto :D

As you know you can't make a pinto worth 300k ever lol

Edited by MPG350
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Really??????

You go to B of A and cash in. B of A pays you in USD. Do you really think B of A is going to use IQD to pay their bills??? They will send all that IQD to the Bank of Iraq for EXCHANGE....WHERE IS IRAQ GETTING THE USD TO PAY THE B OF A ? Yes it would work if the IQD became the currency of choice but using a corvette value to compare to exchangeable currency is ridiculous.

Edited by wingsofhope
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Agreement to support the ration card trillion dinars and the budget vote Sunday

Editor: CC | NQ Friday, 18 شباط 2011 10:14 GMT

Speaker Osama Nujaifi mediates deputies during a meeting of heads of political blocs

Alsumaria News / Baghdad

Parliamentary source said Friday that the presidency of the Council of Representatives agreed with the heads of political blocs and the Finance Committee to present the law of the financial budget for the current year 2011 to a vote during the meeting next Sunday, while he noted that the conferees agreed to support the ration card trillion Iraqi dinars.

The source said in an interview with "Alsumaria News", "The Iraqi parliament speaker Osama Najafi and his two deputies Qusay al-Suhail and Aref Tayfur agreed at their meeting this morning, with the heads of political blocs and the parliament's finance committee to view the law of the financial budget for the current year 2011 to a vote at the meeting Parliament on Sunday. "

The source, who requested anonymity, that "the meeting discussed the paragraphs of the 13 federal budget in order of priority," noting that "has been voting at the meeting to support the amount of the ration card trillion Iraqi dinars to provide five basic vocabulary."

The source pointed out that "the conferees also agreed to support the social protection system and the development of the regions and the services sector, agriculture, and support students, and allocating a portion of imports of pilgrims to the provinces concerned," explaining that "it was agreed that the ratio is operational 70% and investment 30%."

The head of the Iraqi parliament Osama Najafi and his two deputies Qusay al-Suhail and Aref Tayfur held, this morning, meeting with the President of the Kurdistan Alliance bloc Fuad Masum, and the head of the Iraqi Salman Jumaili and deputy head of the National Alliance, Khaled al-Attiya and the head of the Virtue Ammar Tohma and the head of the Change Church Haji and Chairman of the Integrity Commission Bahaa al, Members of Parliament whose staff Muhsin al-Sadoun and Kanna addition to the Chairman of the Finance Committee Haider al-Abadi, its members and Finance Minister Rafie al-Issawi.

The Council of Representatives, on Thursday, its 34-headed Osama Najafi and the presence of 235 deputies, to draft the Supreme Judicial Council for second reading, and the continuation of the second reading of the draft federal budget law for the current year.

The Sadrists announced earlier that 130 deputies, mostly from the Sadrists and the Iraqi List, threatened not to vote on the law of the current year budget, in the absence of allocating 15% of the Iraqi people.

The cabinet approved on the sixth of February, the current budget for 2011 modified after an increase of three billion dollars to be worth 81.9 billion dollars with a deficit of 13.3 billion dollars will be covered by the amounts retained from the previous year's budget and borrow internally and externally, noting that the total revenue estimator, 68 0.6 billion dollars, while operating expenses, ie salaries and wages in particular, by $ 56.4 billion, while the capital expenditures $ 25.4 billion, also pointed out that the calculation of income resulting from export of crude oil at a rate of 76.5 dollars per barrel at a rate of 2,000,200 thousand barrels per day, including 100 thousand barrels of the Kurdistan region.

And got "Alsumaria News", Monday, the report of the parliamentary financial report to the House of Representatives on the bill on the federal budget for 2011, the Committee emphasized that the budget has focused on the priorities in the interest of the citizen and the country, and it does not meet all the needs of the Iraqis and the budget did not include report illustrates the extent of implementation of the stated objectives and the root causes of slow implementation, and whether or not the correct steps to address these causes.

The report said that the file of the budget did not provide information on the extent of implementation of previous budgets, in addition to its inability to estimate the data and information Almdorat cash and cash savings of annual and cumulative, so that could be adopted in the calculation of the deficit, and others, as the report pointed to the need to pursue additional means to address poverty, such as changing the way distribution of the ration card items, and the provision of minimum basic services, rehabilitation of industrial and agricultural sector, small businesses, support the private sector, stimulate the residential sector.

It is noteworthy that "Alsumaria News", won in the ninth of February, the current, on the revised second draft general budget of the Federal Republic of Iraq for fiscal 2011, as last amended after the addition of three billion dollars, earmarked for investment projects of new and operating expenses of the ministries that were not related to the Ministry.

http://www.alsumarianews.com/ar/1/17546/news-details-.html

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what's your point? Yeah the corvette is rare.

Dollar is becoming less rare... which is devaluing the currency (watering it down).

There may be a lot of IQD out there (though nobody really knows how much), but there's also a lot of oil out there

If you really dont believe anything will come of this, then why are you here? If you want to sell your IQD for cheap, let me know (you know, since Iraq is broke and all and probably will be for the next 4000 years)

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Thats it Dogood,

That is what my guys are hoping for. If they did in fact write the budget to cover the RV at the 1-1 rate we're good to go.

My concern is the budget is in the billions and one would believe it should be a trillion to handle an RV unless their internet budget can be administered in the millions

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This is what I have been asking everyone.

Where in the hell is Iraq getting the money to finance an RV. They are broke and living on loans and grants from other countries. They have been spending oil revenue they do not have and will not have for several months in the future. The canceled the F16 order because they didn't have the money and for some stupid reason people still believe they can just revalue their money at $3. We're lucky to see it revalue at 1penny if at all.....

This whole investment has been blown so out of proportion........WAKE UP PEOPLE

There can be many reasons why they cancell contracts and the' official story" is never the whole truth. I think a point you keep missing is that their money is being held in place ON PURPOSE! If it was being freely trade on the markets it would be all over the place just in the last few months. Iraq gets to say say what thier currency is worth based on assets. And right now thier ass sets over a ton o' oil! :) 3$ right out of the gate might be a bit high but it would instantly stop futures speculation even though they may take a big hit at first. Remember a bank lends us money based on future income and the value of the property with a little down payment. With a balenced budget and great credit @ 40,000 a year and no additional debt I can get a loan for a 250,000+ house and its considered a good loan.House are considered a appreciating item and so is Iraq. (as long as they dont kill eachother first)

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Really??????

You go to B of A and cash in. B of A pays you in USD. Do you really think B of A is going to use IQD to pay their bills??? They will send all that IQD to the Bank of Iraq for EXCHANGE....WHERE IS IRAQ GETTING THE USD TO PAY THE B OF A ? Yes it would work if the IQD became the currency of choice but using a corvette value to compare to exchangeable currency is ridiculous.

1) electronic banking... 2) fractional banking... 3) your bank will send dinars to U.S. Gov. who will exchange them for oil. BOI doesn't need to pay out USD.

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Thats it Dogood,

That is what my guys are hoping for. If they did in fact write the budget to cover the RV at the 1-1 rate we're good to go.

My concern is the budget is in the billions and one would believe it should be a trillion to handle an RV unless their internet budget can be administered in the millions

Remember thier budget along with every other developed country is in the trillions!!! Alot of times i've noticed they put both the U.S. coversion rates next to the Dinar rates and it looks confusing. 96 TRILLION DINAR is thier budget, so if they put 1 trillion on ration cards, then divied by 1170 = 854 million U.S. not so daunting eh? Considering they just asked us for 1 billion and an apology just to do some construction, suddenly it looks like they are handing out chicken feed to thier people doesnt it? thats $273 u.s. dollars per person in Iraq accourding to Googles last census count.

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Thats it Dogood,

That is what my guys are hoping for. If they did in fact write the budget to cover the RV at the 1-1 rate we're good to go.

My concern is the budget is in the billions and one would believe it should be a trillion to handle an RV unless their internet budget can be administered in the millions

Wings think of it this way.......if i was Iraq and had 100 dinar and you were a speculator with 1 of my dinar then if it RV'S at 3.00.....you now have 3 dinar.But i will have 300 dinar.Another thing to consider is when a bank takes your dinar they will send them to the federal reserve bank and they will use them as government assets.This will then be used in many creative ways to raise our dollars value,lower our interest to debt,lower our deficit in increments to be determined,raise our credit rating globally,and allow us to obtain cheap oil for a long long time.This just some of the many things that will happen as a result of the RV. Also it will interest you to look up what FRACTIONAL BANKING is.Good reading will help you with the where's all the money thing........Have a great weekend mate....

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yeah but that is $273 USD worth of Iraqi dinar, which is 350,000 dinars. When this supposedly RV for a dollar, It will all the sudden make that 1 trillion into 3 trillion USD. Quite the stimulus package. It doesn't make sense.

It seems that way doesnt it? but remember if 1T turns into 3T then the original budget turns into 288T so the percentage remains the same. there will be some gettin used to by everyone but what is gonna keep them afloat is OIL FUTURES.

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what's your point? Yeah the corvette is rare.

Dollar is becoming less rare... which is devaluing the currency (watering it down).

There may be a lot of IQD out there (though nobody really knows how much), but there's also a lot of oil out there

If you really dont believe anything will come of this, then why are you here? If you want to sell your IQD for cheap, let me know (you know, since Iraq is broke and all and probably will be for the next 4000 years)

Can they RV sure but it won't be much I think more like .25 cents and I will be thrilled with that amount.

Just because you have alot of oil does't mean your currency is worth alot, see Saudi and alot of other countries.

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How does the RV cost money... other than printing new smaller denom bills?

A country's currency is it's obligation. Iraq has to back up its currency with its International Reserve. If the IQD was backed up 100% (it's not that high) and there was an RV @ $1.00, the reserve level would immediately be less than one-tenth of 1%. In Iraq's case, that would be total financial ruin if anybody tried to convert IQD into dollars.

Can they RV sure but it won't be much I think more like .25 cents and I will be thrilled with that amount.

Just because you have alot of oil does't mean your currency is worth alot, see Saudi and alot of other countries.

As above, 25 cents would be a total disaster for Iraq.

Just because Iraq has oil does not mean they will sell it and give me the money.

An RV of 1000 IQD to $1.00 is probably too much to hope for.

Edited by Froto
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You can't use debt as a factor for no RV.

If that was the case, the USD should bomb in value due to their high amounts of debt and closing in default w/ China.

Iraq has assets to back up their currency. (Oil reserves, natural gas reserves, special metals, & so forth). Those are factors...

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Thats it Dogood,

That is what my guys are hoping for. If they did in fact write the budget to cover the RV at the 1-1 rate we're good to go.

My concern is the budget is in the billions and one would believe it should be a trillion to handle an RV unless their internet budget can be administered in the millions

You are becoming a real thorn in my side so i tell you step up!!!!!!! of GTFO you must have a split personality like someone stated before your positive one day than come back to be negative the next. I think its time for you to take a break.

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Its called reality Easy, and yes I'm doing it just to be a "thorn in your side"....Get over yourself please

Step up man your geting on a lot of peoples nerves and yes i am in tune with reality than you very much you have a split personality admit it!!!!!!!!!!!!!! o yea its nappy time for you go to sleep now.

Edited by easyrider
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Step up man your geting on a lot of peoples nerves and yes i am in tune with reality than you very much you have a split personality admit it!!!!!!!!!!!!!! o yea its nappy time for you go to sleep now.

Easy you're a pipedreamer. Just because someone doesn't think it's going to RV at $3.00, makes him negative. A little self-centered there bud? He's negative because he doesn't agree with you?

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