Millionday Roundtable 11/14/14 Part 2
Welcome to dinarupdates.com for Roundtable with Millionday!
DiagyAAAE: How can the 2014 budget be accurate if Daash has control over oil fields in east and north Iraq? They can't even correctly calculate an oil production per day, in the budget if oil fields are under ISIS control, right?
DiagyAAAE: which in turn makes 14' and 15' bpd inaccurate
MILLIONDAY: NO THEY ARE USING SOMO AND ALL OIL IS CALCULATED WITHIN CONTRACTS AND PRODUCTION COUNTERS THAT WERE ESTABLISHED THERE YEARS AGO DURING THIS WAIT
DiagyAAAE: but the kurds aren't meeting their requirements cuz the fed govt doesnt have control over all oil fields?
MILLIONDAY: THEY HAVE SMUGGLED OIL THAT THEY ARE WORKING ON GETTING A HANDLE ON –
THEY ARE DEALING WITH EVERYTHING AS IT COMES –
AND I HAVE TO SAY DOUNG VERY WELL BY WHAT I READ AND STUDY -- THE BEST THING IS TO TURN OFF FOX NEWS LOL
MILLIONDAY: THE CONTROL OF OIL WAS PART OF THE AGREEMENTS THAT WERE MADE WITH THE KURDS
DiagyAAAE: i have a article out of Iraq speaking about the same issue
dinarmassa: If there is a float, it could take quite a while, ie. possibly months, to attain a true reality rate, let's say the estimated reality rate of $3.50
MILLIONDAY: WHAT THAT WOULD BE IS A FLOAT IN THE MARKET ECONOMY AND DRIVEN BY SUPPLY AND DEMAND –
MY OPINION IS THAT THEY ARE GOING TO COME OUT WITH A CONTROLLED FLOAT AND I WILL TELL YOU WHY
MILLIONDAY: THEY HAVE MADE ANNOUNCEMENTS THAT THEY ARE PLANNING ON MAKING AN ADJUSTMENT FOR INFLATION OF 3% TO HELP WITH THE DEFICIT
AND ALSO THE ADJUSTMENT IS ONE OF THE TOOLS THAT ARE USED FINANCIALLY BY THE ECONOMIC SYTEM (MONETARY) TO MINIMIZE THE INFLATION THAT MAY OCCUR –
ALSO THEY HAVE DONE A TEST OF HOW THE ACTIVATION OF BUSINESSES (PRIVATE SECTOR) WILL EFFECT THE STABILITY OF THE EXCHANGE RATES BY CBI
AND THE TOOLS THEY HAVE BEEN USING TO SHOW THEY CAN HOLD IT STEADY AND WITHIN 2% EVEN AS WE READ IN THE REPORT ABOUT THE TESTS THEY RAN LAST YEAR
MILLIONDAY: SO LET ME SAY THIS -- WHAT WOULD BE THE POINT OF JUST OPENING UP THE ECONOMY AT THE IMPOSED RATE THEY ARE AT –
THE PRICES THEY WOULD CHARGE AND PAY WOULD BE SILLY FOR LACK OF A BETTER TERM –
IT WOULD MAKE NO SENSE TO ALLOW THE ECONOMY TO CRASH AND LOSE IN REVENUES
MILLIONDAY: THEY NEED TO BUILD THE COUNTRY AND JOIN WORLD TRADE SO THE IDEA OF ALL OF THESE COMMITTEES THEY HAVE PUT IN PLACE IS TO SUCCEED IN THE REFORMS OF THE COUNTRY SO THAT THEY CAN REBUILD IRA AND THE CITIZENS CAN FLOURISH –
IF THEY JUST OPEN THE COUNTRY AND LET THE MARKET DRIVE IT -- INVESTORS WOULD NOT HAVE MUCH OF A CHANCE FOR A WHILE AND THEY SIMPLY WOULD DO BETTER BUSINESS IN ANOTHER COUNTRY WITH STABILITY AND IRAQ WOULD LOSE
MILLIONDAY: WE HAVE LAWS AND REGULATIONS AND ECONOMICS 101 THAT TELL US THAT THIS IS A WASTE OF TIME TO KEEP DISCUSSING OVER AND OVER UNTIL OUR HAIR FALLS OUT
MILLIONDAY: SO LETS MEET BACK HERE AT NEWSTIME AT 730 EST AND HAVE NEWSTIME --
MILLIONDAY: WE SHOULD SEE HUGE PROGRESS THIS WEEK AS WE HAVE SEEN SO MANY SO MANY THINGS THAT ARE GOING ON AND ALSO THE LAWS WE ARE LOOKING FOR ARE ON THE TABLE –
WE HAVE SEEN THEM JUST SHOW UP AND ANNOUNCE THINGS PASSED AND SO MUCH GOING ON -- SO DONT MISS NEWS
MILLIONDAY: THIS IS A VERY IMPORTANT TIME IN IRAQS MOVE TO GLOBAL TRADE ACCORDING TO WHAT THEY HAVE BEEN ANNOUNCING
Tex.: Is the 2% from the cbi exchange rate ?
MILLIONDAY: IT WOULD BE DONE TO THE EXCHANGE RATE AND COST OF LIVING IS DONE TO PRICING INDEX AND PAYROLL AND GOV BENEFITS
MILLIONDAY: INTEREST RATES CAN BE ADJUSTED SO THAT THEY DONT GO INTO A RECESSION WHICH IS A REAL FEAR IN AM SURE DUE TO THE GLOBAL CONDITION
MILLIONDAY: REMEMBER THEY ARE THE ONLY COUNTRY THAT WAS NOT AFFECTED BY THE GLOBAL RECESSION BECAUSE THEY WERE ECONOMICALLY ISOLATED
forestnr4 MILLIONDAY: Part1: Can you kindly shed some additional light on the RI/RV.?
The question I and my close friends that are involved in the Iraqi currency is: how is it possible for the CBI to RI/RV at $1.00 or $3.00 when there is tens of trillions of dinar in circulation??
Even if as an example, there is $5 trillion on the streets and 25 trillion with financial institutions, a country would be hard pressed to come up with 5 trillion dollars even if it is a 1 to 1 exchange.
At 30 trillion dinar the CBI would be on the hook to come up with $30 trillion on a even $1 to $1 exchange to the USD.
forestnr4 MILLIONDAY: Part 2: Back in 2003 Iraq had dinars circulating in the billions, thus supporting a $3.22-$3.44 range. As well, based on the total in circulation at that time, the IQD was considered stable.
Now we have the IQD in the approx. 30 trillion range and we are having a difficult time wrapping our heads around the fact that how can the CBI be able to come up with monies to eventually buy back their own currency at the new reinstated/revalued figure?
I do understand though that the countries we reside in will be collecting the IQD but will eventually be returning it to the CBI for their part of the exchange process.
Do you see this as still being realistic?? Again, Thanks so so much for your insight/opinion!!!!
MILLIONDAY: LET ME HAVE THE FLOOR FOR A SEC
MILLIONDAY: THE CIRCULATION IS EVERYTHING THAT HAS BEEN ACCOUNTED FOR IN CBI AND IS NOT THERE AS RESERVES -- THAT MEANS THAT ALL
MILLIONDAY: SO THIS IS ALL MONIES AND THEY ARE COUNTING HERE PAPER -- SO THINK ABOUT THIS ---
WHEN YOU GO TO EXCHANGE YOUR DINAR IN OR ANY OTHER CURRENCY WITH AN EXCHANGE PLACE OR THE BANK ETC –
YOU WILL RECEIVE REGULATION AMOUNT THAT MAY BE (BEST GUESS) $10,000 AND THE REST WILL BE IN WIRED FUNDS -- ALSO
MILLIONDAY: THE MONIES THAT THEY HAVE DISTRIBUTED IS ALSO ACCOUNTED FOR IN THAT FIGURE
AND ALSO THE DINAR THAT IS HELD TO COVER ALL RESERVES ---
BOTH BANKING AND ALSO CURRENCY MARKET ---
AND THE BIG WHOPPER IS THAT THEY HAVE STATED THEY HAVE DESIGNED NEW CURRENCY THAT WILL BE DISTRIBUTED AND COINS AS WELL (WHICH ARE COUNTED)
SO THE AMOUNT IS NOT WHAT THEY WILL HOLD NORMALLY IN OTHER WORDS
MILLIONDAY: DONT WORRY ABOUT THE FIGURES THAT THEY HAVE GIVEN FOR CIRCULATION---
THEY ARE IN THE MIDDLE OF ECONOMIC REFORM AND MONETARY POLICY CHANGES
faith1: do you think that all we are seeing,,, could lead to the reality of Iraq's worth going international with that reality this year ?
MILLIONDAY: WOW -- THAT WAS CREATIVE -- I DONT HAVE A DATE HUN
letsroll: Millionday isnt Iraq mostly concerned with whats inside its boarders (iqd) what has left Iraq is out of there control and will be handled thru central banks in other countries .... your research is awesome all the years smile
MILLIONDAY: WE SURE ARE SOME LONGTIMERS ------
THEY ARE VERY CONCERNED THAT ALL DEALS TO GET DINARS BACK AND DISTROYED ARE FOLLOWED THROUGH WITH SO THEY CAN HAVE CONFIDENCE THEY HAVE MONEY LAUNDERING UNDER CONTROL –
I WOULD IMAGINE THAT THEY HAD NO IDEA FOR A LONG TIME JUST HOW MUCH FRAUD WAS TAKING PLACE IN THE PAST –
I WOULD BE EXCTIED TO SEE WHAT CAN BE DONE FINANCIALLY WITH ALL THE OIL THEY HAVE AND REVENUES THEY SHOULD HAVE HAD ALL ALONG –
WHO KNOWS HOW MUCH MONEY WAS STOLEN AND STASHED
MILLIONDAY: I KNOW THE IRAQIS SHOULD HAVE BEEN LIVING BETTER THAT THEY HAVE BEEN DUE TO THE HUGE OIL THEY HAVE IN THEIR COUNTRY AND ALSO THE REGION