BGG Q & A Chat With Members Part 1
BGG says(8:33 PM): some guide lines - don't get upset if I miss you
joekid says to BGG(8:33 PM): I got a tough one when you are ready!
Dwightj says(8:33 PM): LOVEIT HE WILL LATE NO MATTER WHAT
magnetlady says(8:33 PM): Good evening BGG
BGG says(8:33 PM): this is going to move very fast.
BGG says(8:33 PM): Not everyone at once.
BGG says(8:34 PM): keep chit chat and posting to a min while I'm talking...
juiceplus+ says(8:34 PM): what happened w/ the ministers ?
cwxford says to BGG(8:34 PM): Still not selling Dinar in Texas. have you got a clue when?
BGG says to juiceplus+(8:35 PM): nothing yet - refer to guidlines above.
BGG says to juiceplus+(8:35 PM): NOT EVERYONE AT ONCE!!
larrykn says(8:35 PM): bgg seems like isis is really causing problem over there , seems they found a way not to get hit by our airforce, Kurds are having problems with them , what do you think about this , will this slow things down or not
BGG says(8:35 PM): use your ?? One at a time
larrykn says(8:35 PM): sorry
BGG says(8:36 PM): and I have a few interesting thoughts no one has seen - if you would like me to expound??
plowboy says to donnie(8:36 PM): yeah, I saw that. But you have to consider, most people interested in seeing it are Christians wouldn't you think?
BGG says(8:36 PM): let's take our time - it will be worth it.
BGG says(8:36 PM): Real info...
juiceplus+ says(8:39 PM): is M still around?
(8:39 PM)THE BLOG - Dinar Daily NEWS Blog Oct 2nd - http://www.dinarupdates.com/blog/
BGG says to juiceplus+(8:40 PM): Yes, he has a "mostly ceremonial" VP position for now. I suspect he will be tried as a war criminal soon, but for the moment - he still has some impact, mostly as an obstructionist...
BGG says to juiceplus+(8:41 PM): there were a couple of reasons he replaced Turki the week before he was ousted...
1) the GOI was headed towards being out of money....
2) win lose or draw - he could hold this up for a bit even if he lost his bid for a 3rd term (which he did - an is...) Ok gimme a minute - hold the ??'s
BGG says to juiceplus+(8:42 PM): hold that thought - we'll get to them.
BGG says to juiceplus+(8:43 PM): MP: CoM to hold its session today to settle Budget Law
Baghdad (AIN) â€“MP, Niyazi Oghlo, said that the Council of Ministers will hold a special session today to settle the Budget Law.
He stated to AIN "The CoM will solve the crisis of the salaries of Kurdistan Region employees and the Budget Law today."
BGG says to juiceplus+(8:44 PM): They started to hold this meeting - but adjourned before much got done. My take - Baghdad wants to pay the Kurds - but they don't have the money.
BGG says(8:44 PM): Hang on...
BGG says(8:45 PM): The Finance Minister said, the Government would end the settlement of all information required to complete the outstanding balance, and payment to the House in time may be after Eid, saying that everybody want to resolve the crisis, despite Kurdistan salaries paid will be linked with the available cash balance in reference to potential financial shortfall significantly by country...
BGG says(8:45 PM): So a solution appears to be on the way...
BGG says(8:46 PM): "...the total numbers of financial revenues and expenditures for the first seven months of this year, showing that Iraq had spent all the money earned from oil exports,..."
BGG says(8:47 PM): "...The Minister predicted that the budget will be approved during the current month in the Cabinet and the Parliament..."
BGG says(8:47 PM): Erbil / NINA / Speaker of the House of Representatives Saleem al-Jubouri announced on Wednesday that the federal government will hold a special meeting tomorrow to discuss the general budget of the country, stressing the seriousness of the government in solving the problematic balance of the Kurdistan region and the salaries of its staff.
BGG says(8:48 PM): Hang on...
Carl_H says(8:51 PM): what's # for call ?
Blossom says(8:51 PM): one 800 rv
magnetlady says(8:51 PM): Carl its going on live right here in chat
BGG says(8:51 PM): According to the President of the parliamentary Finance Committee, Magda ...al-Tamimi, said in an interview with "the range", the Cabinet meeting held on Tuesday discussed the income and expenditure in the budget for the previous period "...
joekid says to Carl_H(8:51 PM): No call bgg is doing in chat
BGG says(8:51 PM): This is the same guy who said this just the other day (72 hours ago...)
BGG says(8:51 PM): hang on...
BGG says(8:52 PM): al-Tamimi, the Committee will host the Governor of the Central Bank of the relationship after the holiday of Eid al-Adha, to inquire about the aim of changing the edition coin category ten thousand dinars without moving the project to delete the zeros...
BGG says(8:52 PM): (don't let me interrupt).... just the biggest news since April
BGG says(8:53 PM): "...that will restore the reputation of the Iraqi dinar in the competition of foreign currencies..."
BGG says(8:54 PM): the point being Maliki left the GOI in a bad way (in so many ways) and the current GOI wants to pay the Kurds - but they don't have the $$ (on hand)...
flightnurse says(8:54 PM): I SECOND THAT HOW?
Blossom says to BGG(8:54 PM): What does that mean they will be using ATMs?
BGG says(8:55 PM): same guy above is threatening (Maliki's current proxy) with a trip to the Parliament to answer for NOT removing the zero's but instead leaving the GOI without money.
BGG says(8:55 PM): the two issues are directly related.
BGG says(8:56 PM): OK 1st ?? (let's take our time)...
love it 2 says to BGG(8:56 PM): if baghdad is broke....how can they pay the kurds ? if a budget is passed would not the funds go to running the country, leaving little for the kurds ?
BGG says to love it 2(8:56 PM): They will be able to "cash flow" out of this... in the end the world has their back.
BGG says to love it 2(8:57 PM): let's not confuse the CBI reserves and the GOI budget. BIG DIFF>>>
love it 2 says to BGG(8:57 PM): so "after" a rv they can pay them ?
quicktolegit96 says(8:57 PM): WE ARE, JUST GETTING IN LINE OR TRYNG TOO WITH A QUESTION MARK LOL
BGG says to love it 2(8:57 PM): the GOI is totally separate - however, that is what Maliki was desperate to get his hands on.
MArco says(8:57 PM): The Maliki news appears to be several weeks old, How to we go from economic reform imminent one nigt to Budget in month of Oct. Seems a lot of disinfo one way or the other. Either these people in Iraq speaking of reform are blowiing smoke or delays are nonsense.We have been thru this how many times.
quicktolegit96 says(8:58 PM): IF THEY BRING IN COINS WITHOUT DELETING ZEROS, IS THIS POSSIBLE..WILL THAT CAUSE THEM TO RV?
love it 2 says to BGG(8:58 PM): after this rv's..they pay the kurds correct?
BGG says to quicktolegit96(8:58 PM): That was a bad translation - "coins" referring to the new notes.
quicktolegit96 says(8:58 PM): BGG TY
BGG says to quicktolegit96(8:58 PM): coins won't force the issue.
BGG says to quicktolegit96(8:59 PM): it is murky to us - clear to them. There is some conflict about to be resolved. Which is what we hoped for in early 2011.
BGG says to love it 2(8:59 PM): Before - during and after ... next
love it 2 says to BGG(9:00 PM): ok..thank you :)
BGG says to joekid(9:01 PM): Some of the notes - yes... but ultimately the various countries that take these notes in from their populice will be "financing" in one way or another.
joekid says to BGG(9:01 PM): thx
MGM says to BGG(9:01 PM): It would appear that they are being paid in dollars! True?
BGG says to MGM(9:01 PM): Who?
(9:01 PM)forestnr4 was kicked out by forestnr4!
MGM says to BGG(9:02 PM): Kurds
BGG says to MGM(9:02 PM): I doubt that will be the case. Historically, the GOI sells oil in petrodollars and buys their own Dinar back for "internal business"...
BGG says to MGM(9:03 PM): I doubt they will pay the Kurds in USD (unless this drags on much longer).
nanakau says(9:03 PM): Hi, first time to chat but i listen in n read all the time. News reports that Iraqi military desertions due to not being paid also. So yes, they NEED this RV. If they are "done" with "must do's" Logistically if they RV, how would they be able to xchange and get the smalls to all their people quick enough for them to not have mass hysteria?
Savannah says(9:04 PM): just letting you know you missed meliahlore: ???
BGG says to nanakau(9:04 PM): It's not that big a country - the smalls are already in many banks (or easily put there). The only hysteria is on the internet (lol)
nanakau says(9:05 PM): k, thank u!
jtank says(9:05 PM): wowzer
MGM says to Savannah(9:05 PM): (y)
BGG says to meliahlore(9:05 PM): Go (sorry - doing the best I can here :) )
meliahlore says(9:05 PM): Great stuff, BGG! Sounds like October might see a shift? Has the CBI ever been shut down for 4-5 days straight? Will they Saturday and into next week for their holiday?
BGG says to meliahlore(9:07 PM): Yes - they have... but these latest trends in the news are very encouraging to me. Forgetting the ignorant hucksters on the internet - the "hard news" is starting to heat up - ESPECIALLY the Finance committee about to call the CBI on the carpet (as I predicted they would - prior to Apr 30th)
BGG says to flightnurse(9:07 PM): Go
rbkeyz says(9:07 PM): ? yes or no does the rv need to occur in order to pay kurds?
flightnurse says(9:07 PM): could u please explain what u said about adding the notes and not doing the deletion of the zeroes isn't that what needs to be done for a reality rate
meliahlore says(9:07 PM): Yup...I agree! Okay thanks to you and everyone on the team! Peace
BGG says to flightnurse(9:08 PM): Same - same - this is just the GOI lingo for an RV. Period
slh5282 says(9:08 PM): sorry if I missed but I just came back in, how long can they go without approving the budget before they get into total financial turmoil?
flightnurse says(9:08 PM): thanks
BGG says to slh5282(9:08 PM): Not much longer - it is a serious situation.
Savannah says to BGG(9:09 PM): rbkeyz: ? yes or no does the rv need to occur in order to pay kurds?
rbkeyz says(9:09 PM): does the rv need occur in order to pay kurds?
rbkeyz says(9:10 PM): yes or no
BGG says to rbkeyz(9:10 PM): oil is the biggest deal - no oil = no money for the GOI.
Daisy says(9:10 PM): Thursday, 02 October 2014 18:22 | PDF | Print | E-mail
CoM finishes its meeting without discussing Budget Law Baghdad (AIN) â€“The Council of Ministers finished its meeting Thursday without discussing the Budget Law or the salaries of the employees in Kurdistan Region. /End/ ...
BGG says to rbkeyz(9:11 PM): and right now their oil situation is "hodge podged up"...
Dinar Dave says(9:11 PM): Do you think M's new guy in the CBI has held thing up???
awesomedtl says(9:11 PM): DO U HAVE ANY KINDA TIMELINE FOR THE BUDGWT
BGG says to Dinar Dave(9:11 PM): I do - for the moment...that will not last.
(9:11 PM)firehose888 was kicked out by firehose888! Savannah says to BGG(9:12 PM):
awesomedtl: ???? DO U HAVE ANY KINDA TIMELINE FOR THE BUDGWT
awesomedtl says(9:12 PM): LOOOK UP !!
BGG says to awesomedtl(9:12 PM): I don't - but reportedly - it will not be long.
BGG says to awesomedtl(9:12 PM): for me though, the budget is not the key - solving this conflict between the hags in power and the Parliament is.
BGG says to soapamine(9:13 PM): it is. Things are at a tipping point.
Craveman says(9:14 PM): In the past we've heard they are actually getting some work done through some holidays.. Any thinking they will get anything done during this one?
johnsoos says(9:14 PM): do think m guy in cbi can stall this for 30 /60 days or even the first of the year rv /reform
BGG says to soapamine(9:14 PM): I had a conversation about this earlier. 50/50 IMHO
BGG says to soapamine(9:14 PM): and that is good odds for us.
BGG says to soapamine(9:14 PM): in the past they would not have worked.
johnsoos says(9:15 PM): do think m guy in cbi can stall this for 30 /60 days or even the first of the year rv /reform
BGG says to johnsoos(9:15 PM): I do not - his influence is very limited. He and Maliki are about done. They both will go to jail (at least).
radronin says(9:16 PM): I tend to believe with the Kurds getting paid, this will allow Abadi to 're-submit" his original candidates.. thoughts?
radronin says(9:16 PM): TY
sudo1114 says(9:16 PM): oil is below $90 and they don't have money. does this mean a stronger or weaker currency reval?
BGG says to sudo1114(9:17 PM): Might mean weaker - but how much is not my main concern - get started is the big deal.
Caravaggio says to BGG(9:17 PM): What is the current status of the appointment of the Defense and Interior ministers? And does that have any substantial effect on currency reform?
MGM says to Savannah(9:17 PM): You rock!
BGG says to Caravaggio(9:18 PM): Very close - yes, balance of power is an issue for the IMF - etc, etc...
Savannah says to BGG(9:18 PM): johnsoos: do think m guy in cbi can stall this for 30 /60 days or even the first of the year rv /reform
sudo1114 says(9:18 PM): oil is below$90 and they don't have money. does that support stronger or weaker currency reval?
BGG says to Savannah(9:18 PM): Answered
Ladyfox says(9:18 PM): If the Dinar rv by itself alone , when will others follow?
poppy3 says(9:19 PM): TAKE A QUICK LOOK AT YOUR EMAIL . PRIVATE
BGG says to Ladyfox(9:19 PM): This is all about the IQD - nothing else. If there are others IMHO they will be later - maybe much later. This GCR business is about ratings - not the truth.
radronin says(9:19 PM):ok Poppy.. LOL!!!
Ladyfox says to BGG(9:20 PM): thank you BGG
love it 2 says to BGG(9:21 PM): If Baghdad were to pay the Kurds in american cash..would that just make the people more mad ? as the country seems to want their own currency ..after all it's al about their "pride"
BGG says to Redmon(9:21 PM): No - that is the Parliament's job... and he could (with their approval/support) change the CBI Gov quickly - which he has said he would do. However, he is focused on the 2 remaining Ministers.
Dwightj says(9:21 PM): SO WHAT HAPPENED
Savannah says to quicktolegit96(9:22 PM): love it 2 BGG: ??????
love it 2 says to BGG(9:22 PM): I f Baghdad were to pay the Kurds in american cash..would that just make the people more mad ? as the country seems to want their own currency ..after all it's all about their "pride"
Redmon says(9:22 PM): Did Maliki get approval?
BGG says to Redmon(9:22 PM): Non-factor - the Kurds just want paid. No one cares how.
Redmon says(9:23 PM): Thank You!
love it 2 says to BGG(9:23 PM): and would not Abadi be able to change the CBI peep to who he wanted as "m" did ?
BGG says to Red...
Comments may be made at the end of Part 2
Link to PART 2