DINAR UPDATES 4-8-16
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Friday AM Chat 4-8-16 Part 1 of 3
DIGIman1 says to LLN65():i was just noticing in the blog.....yesterdays auction numbers.....
LLN65 says to DIGIman1():oh do tell :)
LLN65 says to DIGIman1():are they down
DIGIman1 says to LLN65():29 banks...thats really high...and only 90M sold....
LLN65 says to DIGIman1():good sign eh :)
DIGIman1 says to LLN65():sorta tells me things are restructuring...hopefully the 'thinning' trend continues...quickly...lol
DIGIman1 says to LLN65():gm cookie .... care to offer your opinion on that?
rcookie says to LLN65():WHts that... the auctions...
rcookie says to LLN65():sure....we know exactly what they are doing...
rcookie says to LLN65):ready...
rcookie says to LLN65():oops..
DIGIman1 says():it looks like they are 'weaning'.....
rcookie says to DIGIman1():they are in ink cutting the auctions 75% in 24 months starting from jan 2015....25% in 2015...and 50% in 2016 for total of 75%..
rcookie says to DIGIman1():we know they did $44billion in 2015...so they are planned to do half of that in 2016...or $22 billion...
rcookie says to DIGIman1():22 billion by 12 months...
DIGIman1 says():so they are limiting the amount of USD available...and so many banks and remittance companies are stepping up to purchase...
rcookie says():the big thing that slipped by earlier in the week was the announcement of the new rafidain banks opening up throughout iraq....offering comprehensive "1 stop shopping" banking services....banking..loans...stocks...bonds...and auction windows.......
rcookie says():and the big part......who owns the 2 big state banks that are now restructured ....
DIGIman1 says():i dare not try to answer that one....its too early....
DIGIman1 says():i rely on minds like yours to keep this all straight bud :D
rcookie says():ministry of finance owns those banks...
DIGIman1 says():ok thank you :)
DIGIman1 says():so the number of banks has incresed obvioulsy and this would have an impact at the CBI with the auctions now....am i piecing that together right?
rcookie says():cbi not only ones conducting auctions...
rcookie says():yes...more banks with stricter controls..and waning volume...
DIGIman1 says():ok....thank you Mr Cookie.....makes much more sense now....
DIGIman1 says():sigh.....now i have to get ready to go to w**k......
rcookie says():rates set by cbi...caps on the vig for rate (1200),,,and limitations on currency amounts allowed to leave the country from 5000 to 3000...
rcookie says()been going since 5:00...
rcookie says():abadi meets with kerry...
DIGIman1 says():i just love the support abadi has been getting....
rcookie says():pledges $155 million for aid for displaced....
rcookie says():iraqs oil production up 12% over last year....but then whine at every opportunity about the pricing and how it impacts budget & economy.....hilarious....
rcookie says():Sources: US diplomats have succeeded in convincing the political blocs justice for a step change Abadi
Wrote: April 8, 2016 Abadi - selection-ministerial Political sources revealed that the success of the Iraqi President Fuad Masum, the Americans and diplomats to convince demanding a change in Iraqi Prime Minister Haider al-Abadi political blocs, a shrug for such a move.
The sources told the newspaper Kuwaiti politics that among the proposals put forward in enclosed rooms that are selected political candidates sovereign ministries and ministers technocrats of the ministries of service, as there is a proposal to change the interior and defense ministers.
larrykn says to rcookie():
interesting news you brought in, didn't understand the rate part, rates set by cbi...caps on the vig for rate (1200),,,and limitations on currency amounts allowed to leave the country from 5000 to 3000...
United States mediates between Erbil and Baghdad to resolve the outstanding problems
By Roudao 4 hours ago Roudao - Erbil Scheduled to visit a high-level delegation from the Kurdistan Regional Government, headed by the Prime Minister of the Kurdistan Region, Nechirvan Barzani, Baghdad, on Friday.
The visit coincided with another visit by US Secretary of State, John Kerry, is expected to put his problems with the Kurdish delegation to Baghdad, a US-brokered dialogue table this time around.
The head of the Kurdistan Democratic Party in Iraq's parliament bloc, Khosro Goran, network Roudao media, "to visit the Kurdistan Region delegation headed by Nechirvan Barzani, Baghdad, and visit coincides with a similar visit from John Kerry."
After the return of the delegation of the Kurdistan Regional Government of Baghdad, is scheduled to last a delegation of political parties, the Kurdish begins visit to Baghdad and his hand joint package, while the Kurds say that "Baghdad officials about the distribution of the share of the Kurds, without going back to Arbil, and this is unacceptable For us".
Roudao he learned alongside the United States, it would be the United Nations and Iran, their speeches about the form of changes in the government.
The visit comes at a time when the Iraqi political blocs have different attitudes about the technocrat government announced by Iraqi Prime Minister Haider al-Abadi.
cookie says():iraq is already making huge moves and lining up for sba from imf.......
horsegal says():Wow, news is awesome!
larrykn says to rcookie():and I'm ready too :)
rcookie says():last time iraq was in sba...what did they do....
larrykn says():backed off ?
larrykn says():that was under maliki and he fired Shabs
larrykn says():or tried to arrest him
rcookie says():they accepted article viii obligations.......
rcookie says():and what did they just do on monday in preparing for sba.....
horsegal says():Don't know, Rcookie, what?
rcookie says():they just adjusted the oil price for the 2016 budget.....from $45...to $32....
clay says to rcookie():wow thought oil was to go up not down
dale says():Rcookie : All sounding great.
clay says to dale():starting to get alittle excited
rcookie says():they are cleaning up and recalculating the budget numbers ...so acurate deficit is established...before they start to receive the 1st installment of the 16 billion they are going to get over next 3 years.....
LLN65 says to clay():go for it!!! :D
dale says():Clay :/Me too .....
larrykn says to rcookie():is this part of the IMF loi
clay says to LLN65():(lol)
rcookie says():Iraq to set oil price at $32 in 2016 budget
BAGHDAD, 7/4/2016 Iraq plans to lower the oil price forecast in its 2016 budget to about $32 a barrel from $45, widening its fiscal deficit by several billion dollars, the International Monetary Fund (IMF) and a senior government official told Reuters.
The new price estimate is based on the continued low level of global oil prices in recent months, said Marwa al-Nasaa, Amman-based IMF resident representative for Iraq.
"We're setting it closer to $30 based on the climate of international futures prices since November," she told Reuters on Thursday.
The adjustment is expected to add about $6 billion to the OPEC producer's budget deficit unless offsetting measures are taken, said the Iraqi official, who requested anonymity to speak about ongoing government deliberations.
Iraq's current budget, which projects oil exports of 3.6 million barrels per day, predicts a deficit of 24 trillion Iraqi dinars ($20.56 billion).
The drop in oil prices over the past two years has battered Baghdad's finances as it wages a battle against Islamic State militants in the north and west and confronts a political crisis that threatens to bring down the government.
Iraq, which relies on oil for more than 90 percent of its revenue and sells at a discount to global benchmark crudes, earned an average of $24 a barrel in the first two months of the year and $28 in March, the Iraqi official said late on Wednesday. "We have to rebuild the budget taking this into consideration."
The revised budget, which has not been finalised, is part of Iraq's negotiations for a standby agreement (SBA) with the IMF, the official added. The SBA financing could be approved as early as June, unlocking $15 billion in international assistance over the next three years.
"If an SBA is reached, part of that financing gap will be met by IMF and other donor financing, but it will not close the entire gap," Nasaa said.
"A number of measures are going to have to come from the government itself to increase revenues and bring expenditure in line with the new revenue reality. It has to be a combination of both."
The Iraqi official declined to specify what measures Baghdad would take to reduce the deficit, but said: "It is a must, otherwise we will have to borrow more and more." – Reuters
rcookie says():so adding $6 billion to the 20.56 billion deficit.....so even at 26 billion ...one of the lowest deficits in the region....
rcookie says():remember how there were people challenging and 2nd guessing whether or not they were going to implement the 2010 customs tariffs....lol
rcookie says():can everyone see now with all of these action plans that have been in the works..be appled....they are mandated to have required levels of non oil revenues that there was never a chance they were not going to apply........where else was this revenue going to come from it represents more than 90%....lol
larrykn says to rcookie():they finally listened to the IMF and are on the right track now , good for them and good for us :)
larrykn says():getting rid of the corruption had to have been a big problem to solve, I know they will never get rid of it all but wow what a start
rcookie says():they have been under plan since 2011...thtas what is so exciting....this is the culmination.....
rcookie says():The issuance of the warrant against Ethel Najafi
Fri, 08 Apr 2016 12:07:34 Observer news / Baghdad A source, on Friday, that the Iraqi judiciary issued an arrest warrant against former governor of Nineveh Ethel Nujaifi.
rcookie says():Iraqi sources: Kerry holds a "veto" on the US to change Abadi
BAGHDAD - Iraq Press - April 8 / April: Iraqi political sources said on Friday that US Secretary of State John Kerry holds in his visit to Baghdad "veto" US to change Abadi.
The sources pointed out, according to the Lebanese daily Al - Akhbar that Kerry in his visit by a one - day meet with the Kurdish delegation, which will arrive in Baghdad , headed by President of the Kurdistan Regional Government Nechirvan Barzani and his deputy , Qubad Talabani,
and after that, will hold an expanded meeting includes the Kurdish delegation and President Fuad Masum, in addition to Abadi The head of the Islamic Supreme Council Ammar al - Hakim. According to early Kurdish source on the details of the meetings, the Kerry holds a «veto» US to change Abadi, according to the newspaper.
The sources confirmed that Kerry will meet from their politicians and officials in Iraq , the US administration 's support for Ebadi, during this phase, and will work to ensure the termination of media statements that speak or demanding change Abadi and his dismissal.
In the meantime, revealed that a member of a coalition of state law, Ibtisam al- Hilali, for the issuance of the Dawa Party , a decision to support Abadi and not to nominate any personal alternative of it, through the present time.
She explained Hilali, in a press interview that the last period has seen the nomination of alternative personalities from al - Abadi, notably Tarek Najm , director Former Prime Minister Nuri al- Maliki 's office, pointing out that the party leadership was dropped those nominations.
In the meantime , a local official in Anbar guessed that Kerry will meet with a delegation from the province to discuss the field, military and humanitarian developments in the province, and complete the liberation of the rest of their areas of control «Daash», without to announce the names that will meet with Kerry.
And reached US Secretary of State John Kerry to Baghdad this morning on an official visit one - day visit to meet with Iraqi officials and discussed on a number of files, also announced that the Iraqi Foreign Ministry. Q ended
larrykn says():so is Kerry going to support adibi or look for someone else, I see this as they will talk about it
clay01 says to subgirl():hoping to see this, this month, what do you think
subgirl says to clay01():yep me too! I am praying for this month!!! :)
subgirl says to clay01():so much is happening this month!! look at actions
clay01 says to subgirl():yes, I know, but a lot of June talk also, has me a little worried
subgirl says to clay01():interesting timing on things too!! one can not help from thinking maybe this month!
subgirl says to clay01():oh well yes I have seen some of that too but this month is meetings... next week is big!!
clay01 says to subgirl():If not this month, then looks like June is next window
subgirl says to clay01():ohhh I am praying for this month!!!
clay01 says to subgirl():Ask Larry, maybe you can get him to tell you, he has all the info
jtank says():what was rcookie excited about, 90% oil revenues and tarriffs
larrykn says to clay01():I just go by the news :)
larrykn says():I like were we are at :)
rcookie says():saudi arabia deficit $87 billion....kuwait and uae deficit over $40 billion...iraq $26 billion after revision with oil adjustment...
tank says(8):and the 90%, use tarriffs and tax for other income for imf
larrykn says():I have no idea when they will do it but the 15th is an interesting date :)
larrykn says():a lot going on that day
clay01 says to larrykn():I knew I liked the way you think, lol
subgirl says to clay01():maybe that is a clue lol
clay01 says to subgirl():You see, not so hard with a little prodding, lol
jtank says():15th - the bonds are done
subgirl says to clay01():lol
larrykn says():here is a big clue, they will do it in the first half of 2016 :D (lol)
subgirl says to clay01():exactly lol just let him think a bit lol
Woodywoodpecker says():15th income taxing are due
subgirl says to clay01():lol
jtank says():dont think they revel w the bonds in play
subgirl says to Woodywoodpecker():guess that is a big date huh? UGH!
clay01 says to subgirl():now Woody comes in with trash talk, shame on him
rcookie says():what was the 90% question about^^^^
subgirl says to rcookie():let me see if I can find it... :)
subgirl says to rcookie():jtank asked what rcookie excited about,90%oil revenues and tarriffs... another income maybe?
subgirl says to rcookie():not sure what he was referring too?