Iraqi parliament approved a bill reducing the salaries of the three presidencies

[Sara Johnson]

Iraqiparliament approved a bill reducing the salaries of the three presidencies

16/08/2011 13:39

Arbil, 16 August / August (Rn) - A member of the IraqiCouncil of Representatives for the coalition of Kurdish blocs, the Councilapproves a bill reducing the salaries of the three presidencies of Iraq duringits meeting Tuesday.

According to Said the Messenger of Khorshnaw of KurdistanNews Agency (Rn), that "the House of Representatives approved at its23-day a bill reducing the salaries of the presidencies of Iraq's three (theRepublic and the Council of Ministers and the House of Representatives),"noting that "the House of Representatives kept the allocation risk for thethree presidencies."

He Khoshnaw that "the reduction rate ranged between 23%and 25% of the salaries of origin of the three presidencies and thedeputies," noting that "the agenda of the session, deputies alsoincludes a vote on the draft Law on the Ministry of Education as well asdiscuss the work program and the Ministries of Labour and Social Affairs,municipalities, and tourism and works of the Federal as well as Searchmechanism of action of the Committee on Hajj and Umrah parliamentary. "

The Cabinet has approved the first of the month of Marchlast to the law to reduce the salaries of the three presidencies and turned itinto the House of Representatives for approval.

According to the bill reducing the salaries of the threepresidencies, approved by the Council of Ministers in March / March, thereduction rates varied according to a draft law between 80% and 40%, thus reducingthe salaries of presidents, ministers and MPs from 50 million to 12 milliondinars, was also reduced the allocations of the three presidents and theirdeputies by 80%.

Observers believe that the application of this law willstrengthen citizens' confidence in the Iraqi state as well as it will removethe burden from the shoulders of the general budget of the country by the hugesalaries to those presidencies.

The House voted at its forty-one of the legislative term ofthe former Act to reduce the salaries of the three presidencies in principleand referred it to the committees of the financial and legal Alniabaten todetermine the discount rate and then a final vote.

http://www.aknews.com/ar/aknews/4/257296/

[Crow]

I read somewhere this is a piece of the puzzle for the RV.. When this happens we are close!! Correct me if I'm wrong

[Carrello]

I have read that the RV will take place three days after this bill for salaries is approved. Let me see what I can find if no one else has it at their fingertips.

[acceb75]

I read that somewhere too. I think it was on here 2 days ago.

[lizabeth1]

friday would be fine ...hope your right...

[Lotsofdreams]

I have read that the RV will take place three days after this bill for salaries is approved. Let me see what I can find if no one else has it at their fingertips.

I found it on a thread. Looks like it was from the Call Squad? Are they credible or like Okie? I don't even pay attention to the Guru's anymore so this is probably not believable..IMO. Anyways...this is what they said.

OOMC 8/12/11:

2:27 PM [Coolbreeze] Here is our time window per call article and Studley- Salaries to be reduced by law of the three Presidencies by September 15. This means RV should be between now and September 15.

The Call Squad transcript 8/11/11:

Deb: Didn’t Studley talk about this issue of President’s Salaries the other night on The Call?

Joey: Yes, I think on another site he said they were to be paid within 3 days of the RV by a deadline of September 15th Read more:

Edited August 16, 2011 by Lotsofdreams

[Lotsofdreams]

I found it on a thread. Looks like it was from the Call Squad? Are they credible or like Okie? I don't even pay attention to the Guru's anymore so this is probably not believable..IMO. Anyways...this is what they said.

OOMC 8/12/11:

2:27 PM [Coolbreeze] Here is our time window per call article and Studley- Salaries to be reduced by law of the three Presidencies by September 15. This means RV should be between now and September 15.

The Call Squad transcript 8/11/11:

Deb: Didn’t Studley talk about this issue of President’s Salaries the other night on The Call?

Joey: Yes, I think on another site he said they were to be paid within 3 days of the RV by a deadline of September 15th Read more:

I found this on the Call Squad webpage.

Debreads:Reduce the salaries of presidencies fee voteGoing Global; Posted 11/08/2011 07:00 AMBAGHDAD (Agencies) confirmed the Finance Committee of Parliament that they had completed First andsecond reading to a draft of a bill reducing the salaries of the three presidencies, indicating It is awaiting avote after it delivered its final report to the Presidency of the Council of Representatives before Threemonths. He said Haider Abadi, Chairman of the Committee in a press statement that "the Finance Committeeof the Parliament completed the reading First and second law reduced the salaries of the three presidencies".He added that Abadi "The Finance Committee delivered its final report to the Presidency of the Council of Representatives three months ago " , He pointed out that "the Commission is now awaiting the vote onthe law ".It is noteworthy that the Board of House of Representatives h presidencies and special grades, and around the House of Representatives for approval. .The reduction rates ranged according to a draft law between 80% and 40%,has been reduced salaries of presidents, ministers and MPs from 50 to 12 million dinarsMillion, and reduce the allocations of thethree presidents and their deputies by 80 %.

%.http://www.babnews.com/inp/view.asp?ID=43320\

Edited August 16, 2011 by Lotsofdreams

[magicchris]

According to the bill reducing the salaries of the threepresidencies, approved by the Council of Ministers in March / March, thereduction rates varied according to a draft law between 80% and 40%, thus reducingthe salaries of presidents, ministers and MPs from 50 million to 12 milliondinars, was also reduced the allocations of the three presidents and theirdeputies by 80%.

Not trying to start a lop discussion, just some input from someone smarter then me.

If they reduced the salaries from 50 million IQD(50K USD) to 12 million IQD(12K USD) with a lop. Then would that not put many presidents and ministers and MP's close to a poverty level?

[idplzr]

It does not matter what country we are talking about. Politicians will never take a pay cut unless they know they will come out making more in the long run. A 40 to 80 percent cut is huge for anyone either at the top of the food chain or the bottom. I would agree to a pay cut if I knew the purchasing power of my income would actually rise several times over. The actions of these POLITICIANS is a huge clue in my mind. They are going to MAke $$$....

[Barriegirl]

I know I am fairly new compared to a lot of investors but, the quality and speed of the news lately is mindblowing! Is this normal?

Edited August 16, 2011 by Barriegirl

[Francie26]

I am a word woman, and sooooooooooooo not a numbers person, and I have to think seriously before attempting anything that approaches logical thinking regarding numbers, but my question is this-- If the dinar is worth 1166.5 on todays market, and if the reduction is 80% of their salaries, then is there a way to use those number to make a decent guess about the RV amount? It seems to me that to remain the same amount or thereabouts, they would have to reduce the salaries by the amount of increase in their salaries when converted into the new dinar value. I multiplied .1166 X .80%, and I got .09328, and if that is true, then it converts to a different number for the RV, but I've never figured out exactily how to convert it from there.

If I am wrong, bash me if you wish. I'd prefer that you didn't, but I taught college English to techies for 30 years, so I have handled far worse than any so-called bashers can do to me here. lol

[Quietlearner]

http://dinarvets.com/forums/index.php?/topic/78283-why-an-rv-will-be-done-by-sept-15/

This was posted on our site several days ago by myself and once prior to that. You are correct if what I was told is true and if what MalilkI has stated is true, which I believe it is. Hence my prediction. If this has passed per Maliki we should be witnin the 72 hour window.

Quietlearner

[Alex38]

According to the bill reducing the salaries of the threepresidencies, approved by the Council of Ministers in March / March, thereduction rates varied according to a draft law between 80% and 40%, thus reducingthe salaries of presidents, ministers and MPs from 50 million to 12 milliondinars, was also reduced the allocations of the three presidents and theirdeputies by 80%.

Not trying to start a lop discussion, just some input from someone smarter then me.

If they reduced the salaries from 50 million IQD(50K USD) to 12 million IQD(12K USD) with a lop. Then would that not put many presidents and ministers and MP's close to a poverty level?

Yes it would. So here it is: GO RV!!!!

http://dinarvets.com/forums/index.php?/topic/78283-why-an-rv-will-be-done-by-sept-15/

This was posted on our site several days ago by myself and once prior to that. You are correct if what I was told is true and if what MalilkI has stated is true, which I believe it is. Hence my prediction. If this has passed per Maliki we should be witnin the 72 hour window.

Quietlearner

Quietlearner??? You are learning OUT LOUD

[Carrello]

http://dinarvets.com/forums/index.php?/topic/78283-why-an-rv-will-be-done-by-sept-15/

This was posted on our site several days ago by myself and once prior to that. You are correct if what I was told is true and if what MalilkI has stated is true, which I believe it is. Hence my prediction. If this has passed per Maliki we should be witnin the 72 hour window.

Quietlearner

QL, this article talks about the reduction of salaries, and your referenced post references the increase of salaries. So the RV translates to an increase ? And once the reduction is approved, we see the RV three days later?

Sorry is this is a stupid question, but the reduction and increase is throwing me.

I hope you are well and feeling good.

Carrello

Edited August 16, 2011 by Carrello

[Lotsofdreams]

I just read a post on another site discussing the Parliament reconvening tomorrow. It stated that the council voted on a bill for three of the presidencies that included reducing payroll by 23%.

Maybe that got the initial paycut of 80% and after the RV it will only be a paycut of 23%...LOL!!!! I think I am beginning to not trust any of this information. After time I turn around a different article is saying something different!

Edited August 16, 2011 by Lotsofdreams

[tanalou1]

I hope I am correct in my thinking,, if their pay was equal to $50,000.00 usd, & with the decrease it is now $12,000.00 usd no one would keep working at that rate, so to keep it at the 50k rate, , lets divide 50k by 12k that equals $4.17 to double check it, , take 12k times 4.17 equals 50k so could it be a $4.17 reva. rate ? ! ! !

[Carrello]

I hope I am correct in my thinking,, if their pay was equal to $50,000.00 usd, & with the decrease it is now $12,000.00 usd no one would keep working at that rate, so to keep it at the 50k rate, , lets divide 50k by 12k that equals $4.17 to double check it, , take 12k times 4.17 equals 50k so could it be a $4.17 reva. rate ? ! ! !

Smarty pants!

BTW, I listen to another site ever night. They are a bunch of people with different life experiences that evaluate the news, and evaluate it. No more, no less. It is quite an education and I highly recommend it. They base their theories from a UN document that lays out the plan for Iraq. It is all black and white.

[Crow]

I found it on a thread. Looks like it was from the Call Squad? Are they credible or like Okie? I don't even pay attention to the Guru's anymore so this is probably not believable..IMO. Anyways...this is what they said.

OOMC 8/12/11:

2:27 PM [Coolbreeze] Here is our time window per call article and Studley- Salaries to be reduced by law of the three Presidencies by September 15. This means RV should be between now and September 15.

The Call Squad transcript 8/11/11:

Deb: Didn’t Studley talk about this issue of President’s Salaries the other night on The Call?

Joey: Yes, I think on another site he said they were to be paid within 3 days of the RV by a deadline of September 15th Read more:

THANKS FOR FINDING THAT +1!! Amazing they put this together...someone knows what they are talking about! lol....I REALLY HOPE THEY ARE RIGHT!!!! FRIDAY WOULD BE AWSOME!!!

IMO, THEY ARE NOT REDUCING ANYTHING...THEY ARE SETTING UP FOR THE NEW RATE! AS ONE MEMBER STATED ABOVE THEY ARE POLITICIANS AND THEY AINT TAKING A PAYCUT!!! LOL.... LETS ALL HOPE THIS LEADS TO SOMETHING GOOD!

[Quietlearner]

QL, this article talks about the reduction of salaries, and your referenced post references the increase of salaries. So the RV translates to an increase ? And once the reduction is approved, we see the RV three days later?

Sorry is this is a stupid question, but the reduction and increase is throwing me.

I hope you are well and feeling good.

Carrello

Hi Carrello,

Im feeling great today thanks. As to your question, it is two in the same. If they reduce the current pay of the GOI and then RV it will be a good raise, IF they just RV-d and paid them their current Dinar rate they would be the richest paid government in the world. See what I mean? Hope that helps and take care.

Quietlearner.

Yes it would. So here it is: GO RV!!!!

Quietlearner??? You are learning OUT LOUD

Actually, if you read the past posts, im teaching.

Good luck and I sure hope this is finally it.

QL

[DinarThug]

It seems like with an 80% Reduction in Salary that They were Extremely Over Paid or They Plan to Increase the Value.

Hopefully it's the Latter and this is a Preemptive Move so that they don't catch Criticism about their Salaries Post RV.

I wonder if they get Paid Weekly or Monthly ?

[Danneedsrvnow]

Hi Carrello,

Im feeling great today thanks. As to your question, it is two in the same. If they reduce the current pay of the GOI and then RV it will be a good raise, IF they just RV-d and paid them their current Dinar rate they would be the richest paid government in the world. See what I mean? Hope that helps and take care.

Quietlearner.

Maybe I am missing a piece to the puzzle, but wouldn't the window of September still be the case?

This is what you stated ----"OK, looking back you news hounds will remember a quoute by Maliki in regards to government employee pay? "Your pay rates will be increased, within 72 hours of the Currency Adjustments." Remember this satement?

Allrightly then, yesterday what did PM Maliki say? "Government, your pay increases will be no later than the 15th of Sept." Can you see the window folks?"

Read more:

This article says their pay was reduced..............in my thinking the rv will happen, which in turn, (72 hour window) their pay will increase.

I think this is a positive step that was needed for the rv to take place.

So to assume we are in the 72 hour window, does not seem accurate to me.

This is only my opinion. I would love to get your tale on this Quietlearner.

By the way, I could not locate the article you mentioned that refers to gov. pay being increased within 72 hours....do you by chance have the link?

I do want to thank you for all the information you have been providing. In my mind we still have a very good chance of cashing in around mid September.

Thanks

[watercop]

I feel like this thread is very important and can't figure why it is on the second page so I will post and move it back to page 1

[redsand]

I feel like this thread is very important and can't figure why it is on the second page so I will post and move it back to page 1

Very important. Its just confusing. We cannot forget about the timeline to Sept 15th.

[OregonHopeful]

I don't think it's a cooincidence that they approve the reduction of salaries on the same day they send the bill for the deletion of the three zeros

I think we're really getting close... Hope Hope anyway!

[jg167]

I am a word woman, and sooooooooooooo not a numbers person, and I have to think seriously before attempting anything that approaches logical thinking regarding numbers, but my question is this-- If the dinar is worth 1166.5 on todays market, and if the reduction is 80% of their salaries, then is there a way to use those number to make a decent guess about the RV amount? It seems to me that to remain the same amount or thereabouts, they would have to reduce the salaries by the amount of increase in their salaries when converted into the new dinar value. I multiplied .1166 X .80%, and I got .09328, and if that is true, then it converts to a different number for the RV, but I've never figured out exactily how to convert it from there.

If one's salary was reduced by 80% then that means they are gettng 20% of what they used to get, or 1/5th. So to have that have the value as before in dollars, the exchange rate would have to go up by a factor of 5, so from .00086 to .0043 dollars per dinar or from 1170 dinars per dollar to 232 dinars per dollar.