Millionday Roundtable 5/9/14 Part 1
Welcome to Friday Afternoon Roundtable With Millionday!
[millionday] lets look at this --
[millionday] here we go
[millionday] The Minister of Finance Agency purity of net debt, the need to diversify the sources of revenue of the state and the lack of dependence on oil only.
Safi said in his private meeting to discuss the preparation of the strategy for the state's general budget in the medium term for the period of 2015-2017, the day that "the diversity of the state revenues, is a tributary assistant to the national economy of Iraq."
[millionday] He added, net "that key things that will be considered in this strategy, which is part of the requirements of specialists to diversify revenue and the failure to adopt oil as the primary source of the budget," stressing "the need to discuss this point at length is how to diversify its sources of revenue."
He believed "that these things are the focus of these meetings, which must be completed to be flying to the government a clear strategy specific priorities so that we can build through the budget to be adopted by the 2015 budgets of the subsequent years / 2016-2017 /," noting that "this will be the axis points core of the discussions, which began today and will continue for weeks or months. "
[millionday] He stressed the importance of these meetings, which will come out to see the real budget in 2015 to take into account the constraints faced by the state's budget in previous years, especially regarding the required expenditures and budgets Alchglah.
" He called Net representatives of ministries and stakeholders to be the next strategic quantum leap in the process of increasing growth and rebuilding, and not be for the consumption of a large area where
[millionday] note -- the changes in their resources for the country`s budgets will be so different each year due to the massive transportation and trade contracts -- it actually will be interesting to follow in the years to come
[millionday] The special meeting to discuss the preparation of the state budget in the medium term for the period of 2015-2017 began at noon today in the presence of the Minister of Finance Agency purity of net debt and a representative of Prime Minister Ziauddin Quraishi and a representative of the General Secretariat of the Council of Ministers Obaid replace Freeh and representatives of the Ministries of Defense and Interior, Planning, Health, Education and Higher Education.
h-spot] lol who's gonna be following iraq's "anything" for years to come if this thing takes place lol
[millionday] dorks like me lol
[h-spot] lol[sczin11] millionday lol
[millionday] so this meeting is about the next year`s budget and i find that so interesting due to the news on this years -- hmmm
[hunch] What about 2014 budget?
[sczin11] millionday kinda makes u feel that 2014 is DONE!!
[slh5282] millionday, has the budget for this yr been approved?
[millionday] The Finance Ministry source said: "The meeting will discuss the foundations and principles of the preparation of the general budget, which will determine which of the government's priorities and programs and determine annual spending ceilings and ongoing investment and oil revenues and non-oil." This meeting, according to the provisions of Section VI of the Financial Administration Act No. 95 of 2004 ... p / I
[millionday] end of report
[millionday] go ahead hun
[pinklady] Just want to tell these guys to live in the NOW!
millionday] it does make you wonder about why they are moving forward at such a time of rush on this year budget
[millionday] babe688 go ahead hun
[millionday] sczin11 it makes you wonder -- i am going to see what i can find on the official side
[millionday] here we go
[millionday] A member of the Committee on Economy and Investment parliamentary MP Amer Al-Fayez to promote construction projects in the country and should be subject to a national development plan and well thought out.
The MP said Fayez said in a statement that "the construction projects will contribute to the advancement of the country's leading and generate significant economic benefits for everyone and eliminate unemployment and Temtdt at the level of the country."
[millionday] He said al-Fayez said, "These projects contribute actively to the development of the country's economy and must be projects are aligned with the development plan and national five-year or a decimal to complete these projects which complement each other and not be scattered here and there with the allocation of the implementing agency has and identified because otherwise cause a waste of public money ".
[millionday] note -- they have now started talking about the projects they have for the country -- hmmmm
[millionday] He added: "There must be cooperation between the planning and implementing Ministry and the beneficiaries to be more beneficial projects through the adoption of international companies sober in order to adopt the country properly and not Triqieia."
[ggrr] Well some guru out there states all are wrong and Iraq has 70% of country controlled by terrorists and we are no where close and lucky if we see this by end of the this year...your thoughts millionday
[sczin11] ggrr roflmao
[millionday] one sec hun - here is the last part -- very interesting
[millionday] And demanding political circles between now and then the importance of the development of urban reality in the country, amid the reluctance of many of the projects, while observers believe that the delay in approving the budget in addition to the reluctance of many projects hampered construction projects in the country.
[mudder] It's because they don't read anything
[millionday] ggrr the economy of the country is very trying for many and i am sure that they dont have a whole lot of happy people -- terrorism being at 70% seems extremely high to be a fact -- seems like it may be a guess or some of the military would have to come in and put a stop to that i would think
[millionday] everyone knows i dont talk about other researchers but i will look for those figures -- smile
[jtank] less crime in Iraq than other places--
[millionday] does anyone else have an opinion on 70% terrorism in Iraq? lol
[jtank] No here
[rbkeyz] No way , too high
[ggrr] Yes its called believing what our news here state
[millionday] jtank we had a comparison for the US one night and it doesn`t seem that the numbers match with this -- smile
[jtank] Guru BS
[jtank] You m were rt Md
[millionday] brb with more
[joekid] Is holding up the economic reform considered terrorism? Lol
[coolspot] millionday Well if it were that High I would expect a different approach from the IMF and the World Bank. I am wrong?
[h-spot] If this guru would state something pretty obviously 'wrong', it makes you wonder what his/her agenda is....
[letsroll] how ever has been in charge of security can't do their job thats for sure
[h-spot] ...if it is wrong
[mudder] It's just peoples opinion.... As silly as it is...
[millionday] MP for the National Coalition for the secrets of Salem buckets trilateral meeting which took place between Osama Najafi and Massoud Barzani and Allawi in Arbil, the importance of the non-recurrence of take over the current Prime Minister Nuri al-Maliki, the third term.
[millionday] Daly said in a statement to the Agency ((eighth day)) that "the most important axes of the trilateral meeting will focus on the why after the announcement of the official election results,
and what are the options open to the political parties for the purpose of addressing the current situation the complex during the upcoming He said buckets that "most political parties were unanimous not to take the current Prime Minister Nuri al-Maliki for the third term, explaining that" some parties had a clear vision and by refusing to majority government.
[larrykn] I don't know if it will float or not or at what rate it will start but I can't see this going on till the end of the year -- sorry MD
[millionday] larrykn no need to be hun -- roundtable is for us to discuss everything -- i am very interested in what you have to say
[millionday] why do you feel we are waiting until the end of the year to see the change in Iraq?
[h-spot] i dont think he 'thinks' it will take that long, he said he doesn't see this taking that long
[jtank] Rt hspot
[millionday] on that report it shows the meeting came out with they do NOT want maliki for a third term
[jtank] Party time--
[millionday] larrykn did i misunderstand what you said hun?
[texasrangersjt] On Monday was there not a report that the IMF came out and told the cbi to set a rate?
[millionday] oh i see it now -- sorry sweety -- misunderstood your comment there -- smile
[h-spot] texasrangersjt yep
[texasrangersjt] In "ink"?
[h-spot] i think so, it's in ink right md?
[larrykn] Kap did a report
[millionday] texasrangersjt yes they ordered it to be set by the report we had -- the exchange rate to the USD
[millionday] larrykn nice -- i missed it - do you have it ?
[larrykn] hold on
[millionday] jtank yes in ink
[texasrangersjt] Then you can take anyone's theory of year end and kick that into the trash can
[millionday] larrykn thanks hun
[jtank] Rt on
[Richard Incrocci] I would that if the IMF ordered something to get done, it would be done quite quickly. I wonder why they are not acting accordingly?
[anasdesign] Yeah stay positive
[h-spot] Richard Incrocci do they ever? lol
[larrykn] Article: "Decline in central bank sales of dollar at the end of the auction week" We will have to wait and see if they remain low. It makes no sense when these banks are currently nothing more than money exchangers so commissions are important to them.
We can guess that the issuance of new dinar may have curbed some desire to use dollars in the market. But the Iraqi economy still needed dollars for imports. Why they are low is anyone's guess but these auctions are important to maintain the exchange rate and...
to reduce the spread from Official Rate to Market Rate. If anything, I was expecting the number of banks and money exchangers participating to increase over the coming weeks - not decrease Read more: http://www.dinarguru.com ··· 1F3KXQY1
[Richard Incrocci] h-spot The IMF should be like EF Hutton. When they speak the CBI listens lol
[jtank] Too many crazy gurus out there stirring things uo--
[larrykn] thinking a reduction in auction sales means they are about to raise the value of the dinar. Wrong! The CBI is not compliant with the IMF. Until they prove they can do what is asked of them (via the Article IV Consultation) the CBI is not moving to Article VIII nor a new exchange regime.
The recent statement that said "mid year" or June does not imply a change in value of the dinar, but compliance with the IMF. Nothing more. If the CBI meets that goal of mid year or June, we still need laws to be passed for economic and banking reform.
There is much to be done yet before we can hope for an increase in the value of the dinar. Read more: http://www.dinarguru.com ··· 1F3Pma8L
[h-spot] Richard Incrocci agreed
[texasrangersjt] Very well could be they are just waiting on the dust to settle from elections. See what ground firms up so they know where to standz
[h-spot] larrykn stop it, youre making me want...no, hate pizza lol
[Richard Incrocci] jtank YUP. Causing nothing but un needed chaos
[anasdesign] I'm not buying that report!!!
[h-spot] the thing is, he can't lose. If he's right, he gloats. If/when he's wrong, who will care???
[pinklady] Isn't that more opinion than ink? I guess it is his ink!
[larrykn] h-spot true but it makes no sense to me
[millionday] larrykn thank you hun
[larrykn] what do you think MD
[mudder] were all getting old and grey waiting for what the others have said lol lol
[jtank] They need money now
[h-spot] the only way I see what he says as being detrimental, is if what he says causes people to sell because they are afraid it will tak too long
[MsDiva] so does all this mean we wont see their reality rate in 2014
[texasrangersjt] They have needed money now for years
[h-spot] other than that, NO ONE will care when hes wrong
[millionday] the exchange that is done in the auctions of the USD was used as a tool to control the inflation of the country and show the ability to do just that ---
the usd has been used for oil sales and the first to not do that was saddam -- the sale of oil is in usd and then exchanged to dinar but i do believe that accounts are for both at this time -- the tools in economic reform change that are used and why the amount was low would have to come from an official report if it was planned or controlled for me to have an opinion of why --
[millionday] so i do respect Kaps and for certain respect all of the time he puts in on research and thank him for the time he puts out for those he is helping with this investment
[Richard Incrocci] ??? How is Iraq fairing in all that needs to be done for article 8 compliance, are they done or a couple things left on the "TO DO" list?
[millionday] article 8 is a result of the change in rate -- i had it pulled let me go look for us -- brb
[larrykn] I believe the rate and the auction we see on the cbi site are not the true value, so how could you know what they are really doing at this time
[Richard Incrocci] larrykn We can't. What we do though, is as Poppy said, watch their actions! Total Tell-All
[jtank] They cannot wait another yr , billions usd to be spent on thousands of projects
[Richard Incrocci] jtank Turki himself said this would be done by the middle of the year. That leaves end of July at the latest