Scooter chat early Tuesday AM

[MrRich]

2:14 AM [scooter] I've been buried in these recently posted budget

2:14 AM [scooter] numbers that they have held back for the past 7 months

2:14 AM [scooter] the translation process is somewhat time consuming

2:14 AM [scooter] I had forgotten how tedious process this was

2:14 AM [scooter] nevertheless

2:15 AM [scooter] the tables of increases on departments, ministries, etc...

2:15 AM [scooter] range all over -- from 1.16 at the lowest point to 5.88 on the high

2:15 AM [scooter] the overall budget number is coming in at 1.27 fo the table of increases

2:15 AM [scooter] now comes the hard part

2:16 AM [scooter] taking all the drainage funds from 2006 - 2010

2:16 AM [scooter] and adding that into the equation -- plus adding the DFI and treasury numbers that were just transferred

2:16 AM [scooter] and we still don't have any solid information on those frozen assetts

2:16 AM [scooter] but it's coming together

2:17 AM [scooter] What's interesting is the salaries section

2:17 AM [scooter] the higher level managment is getting reductions

2:17 AM [scooter] but the mid level to lower, entry level personell

2:18 AM [scooter] are all rating out at 3.52 --- that was very surprising

2:18 AM [scooter] caught me off guard

2:18 AM [scooter] they did some things different in this years budget as well

2:18 AM [scooter] They put the majority of the increases on the investment portion

2:18 AM [scooter] whereas last years budget

2:19 AM [scooter] the increases using the Bahraini Dinar rate was applied to the operational expenses

2:19 AM [scooter] so

2:19 AM [scooter] 2009 --- overall budget came in at 1.14

2:19 AM [scooter] 2010 came in at 2.05

2:20 AM [scooter] this year came back down to the 1.2780 mark

2:20 AM [scooter] now

2:20 AM [scooter] we have the $165 Billion that have been saved in US Treasuries

2:21 AM [scooter] if they apply all that plus the drainage funds excesses to the reserves

2:21 AM [scooter] the equation starts to get interesting

2:21 AM [scooter] in a good way -- not a bad way

2:21 AM [scooter] Am I bantering by myself

2:22 AM [scooter] just curious

2:22 AM [Scooby Doo] Scooter is there anything in their constitution that would prevent them from running a deficit with their budget?

2:22 AM [scooter] needed a break

2:22 AM [scooter]  

2:22 AM [wdaubie] Scooter   

2:22 AM [scooter] that's the thing -- are they or have they really been running a deficit?

2:22 AM [scooter] if they used the real values -- they would not be in deficit mode

2:22 AM [scooter] with that said

2:23 AM [wdaubie] Scooter Giving you full courtesy!

2:23 AM [scooter] 2008 killed their budget -- largely because the oil prices tanked so badly

2:23 AM [scooter] wdaubie     

2:23 AM [scooter] Thank you

2:23 AM [scooter]  

2:24 AM [scooter] Anyways -- the timing of this information being published is interesting as well

2:25 AM [scooter] just speculating -- but if they RV'd before the bank re-boot -- that would be a huge benefit to the country

2:25 AM [scooter] I think

2:25 AM [scooter] still working that one through my mind

2:25 AM [Scooby Doo] when is the reboot?

2:25 AM [scooter] I did learn something new about June 30th

2:26 AM [scooter] reboot is benchmarked to be completed before June 30th

2:26 AM [Scooby Doo] ok

2:26 AM [scooter] so -- it may have already occurred

2:26 AM [scooter] just not announced

2:27 AM [Scooby Doo] do you know what Iraq's fiscal year is?

2:27 AM [scooter] did you know that june 30th since 1920 I think has a significant meaning to the iraqi's

2:27 AM [scooter] states January - December

2:27 AM [Scooby Doo] ok

2:27 AM [Scooby Doo] so the same as the calendar year

2:27 AM [scooter] which is interesting because most governments use July 1 to June 30

2:27 AM [scooter] yea

2:28 AM [scooter] At least they do here in US

2:28 AM [scooter] most cities and counties are July 1

2:28 AM [Scooby Doo] somebody earlier said they contacted the CBI and were told July-June

2:29 AM [scooter] hmmmm

2:29 AM [Scooby Doo] I think he said CBI

2:29 AM [scooter] I'll google it -- perhaps they changed

2:29 AM [eatmoney] no imf hesaid

2:29 AM [eatmoney] not cbi

2:29 AM [Scooby Doo] okay .... thanks

2:29 AM [Scooby Doo] yeah, IMF

2:29 AM [eatmoney] no problem

2:29 AM [scooter] ohhhh

2:29 AM [scooter] ok -- that makes sense

2:29 AM [eatmoney] said the imf is very helpful with questions

2:30 AM [Scooby Doo] But the budget follows the fiscal year for the GOI, right?

2:30 AM [scooter] that's actually a cool thing to know

2:30 AM [scooter] I have never called the IMF

2:30 AM [scooter] yes

2:30 AM [scooter] to the GOI

2:31 AM [Scooby Doo] okay, so tell us about June 30 and Iraq

2:31 AM [scooter] oh yea --

2:31 AM [scooter] well it seems way back during the British rule of Iraq

2:31 AM [scooter] that June 30th is their Independence day

2:32 AM [scooter] I thought that was somewhat interesting considering what's occurring right now

2:32 AM [scooter] just a bit of trivia

2:32 AM [scooter] OK - I thought it was kind of cool

2:32 AM [scooter]  

2:32 AM [scooter]  

2:32 AM [scooter]  

2:33 AM [scooter] I think the activity that's occuring right now this week and the next couple of days are huge

2:34 AM [scooter] parliament should have approved the demarcation lines with kuwait yesterday or today

2:34 AM [scooter] On the 15th all the DFI accounts should be under the protection of the US Treasury

2:34 AM [scooter] on the 16th

2:34 AM [scooter] the UNSC is delivered their final report on Iraq

2:35 AM [scooter] the 17th -- new FOREX and leverage rules are being applied world wide

2:35 AM [scooter] wait

2:35 AM [scooter] that could be the following week

2:36 AM [scooter] June 22nd -- the UNSC meets regarding Iraq

2:36 AM [scooter] the two government banks are to be re-booted and revalued

2:37 AM [scooter] There's more -- but I'm just too tired and have forgotten some of the other items

2:37 AM [eatmoney] works out 23rd is my b- day.

2:37 AM [scooter] Sweet

2:37 AM [eatmoney]  

2:37 AM [scooter] the 28th is the publication of the operational exchange rates

2:38 AM [scooter] has anybody notice how many countries made changes to their rates on June 1

2:38 AM [scooter] holy cow

2:38 AM [scooter] never seen that many changes to rates ever

2:39 AM [scooter] Also, have you noticed the US dollar is positioning itself for a reversal

2:39 AM [eatmoney] yes been noticing that.

2:39 AM [scooter] they experts are cautiously optimistic

2:39 AM [scooter] that tells me that big $$$ know something that we don't

2:40 AM [eatmoney] follow the money

2:40 AM [scooter] I think part of this deal with China

2:40 AM [Scooby Doo] Scooter can I post this?

2:40 AM [scooter] has a committment that includes using USD for all oil purchases moving forward

2:40 AM [scooter] sure --

2:41 AM [Scooby Doo] cool

2:41 AM [scooter] This was a good brain dump

[venetia]

Thanks for posting....it's always good to read some intelligent and well informed opinions from Scooter.

[jimpickles]

Thanks !

[KCT]

Thanks Scooter and Scooby Doo!

[Dinar_Eddie]

Thanks for posting Scooby Doo

Thanks for allowing Scooby Doo to post it Scooter

GO RV GO!

[tjmunson]

Did everyone hear that? Scooter said 5.88 on June 30th!!!!

LOL Scooter you are awesome. The time you put into this and the fact that you openly share your findings is truly a gift for us all. Thank you my friend.

Thanks for posting Mr. Rich

Peace

[zul]

Loaded with information..TQ Mr.Rich. TQ Scooter

[bjdksl]

ALooooha and Mahalo for the great information you always bring to the table. Here's hoping that something develops on June 30th, buddy.

[Riley]

Thank you Scooby Doo for posting the chat and thanks Scooter for sharing the information.

[Guest Doug_W_also]

What can I say except>> THANK YOU Very much

[zapped777]

Thank you Mr. Rich and Scooter!! Great chat and a great way to start my day. Positive info!

[429]

Excellent chat, Scooter!

Thanks Mr. Rich.

[wdaubie]

Thank you Scooter! You are a totally awesome dude to take the time to figure all that info out but even more awesome for sharing openly with us that are challenged in knowledge you have! lol Mr Rich Thank you for posting or I would of missed this great info!

[behaviorkat]

Nice Post - thanks Scooter and Mr Rich!

[tim5400]

Thank you Gentlemen.....i needed a confidence boost today....go rv

[Butifldrm]

Thanks Scooter and Scooby Doo. How do you guys stay up so late? Scooter, incredible research and delivery.

[MotorCity]

I also thank you guys for your candid findings and analysis. Although I am a newbie, this is a serious investment for me and my family, and a lot of other people in dire need around the Motor City!

[caz1104]

How many times can we thank Scooter? Well once more wont hurt-THANKYOU!!!!!!!! U DA MAN!....................................................GO RV 2011 BABY!!!! Oh yeah thanks Mr Rich for posting,greatly appreciated.

[Rockman]

Many thanks to Scooter for sharing and Mr. Rich for posting! Scooter, you have earned your's man! It's amazingly obvious you have invested a huge amount of time into your research! My ears perk up everytime you have something to say!!!

[Bumper64]

Thanks Mr. Rich and Scooter for this early morning read!! Good job!!

[rsskelton]

Scooter, as always you are quite the heavy burtation of information. I appreciate so much the time that you are willing to put into this and the fact that you are willing to share with us! Mr Rich, thank you for copying the chat and posting it for us. Oh and one other thing,Mr Rich, what are you doing up at 2:30 Am?

RSS

[Shelley]

Thank you Scooter for sharing and Mr. Rich for posting.... We all can use positive info

[All-In-4-RV]

THANKS SCOOTER ... YOUR POST MADE MY DAY!

RV Already!!!

[FishMan1969]

Thanks for posting Scooby Doo. Your spelling was "spot on" as usual. Keep up the good work MrMod.

[linny0830]

Scooter, thank you so much for the unselfish time you take in researching and sharing with us all. This helps so much to help all of us to understand our investment. I know at times I do get discouraged and you certainly do a lot to reconfirm this will happen someday.

THANK YOU!!!!

Linny