Millionday Roundtable 7/20/15 Part 1 of 2
Welcome to dinarupdates.com for Roundtable with Millionday!!
Millionday: Warned the International Center for Studies British development, that Iraq is in danger of bankruptcy by the next two years, and will be unable to pay the salaries of its employees, because exceeded the deficit in the fiscal budget of the country for the amount of $ 50 billion.
According to a report to the Centre that "the deficit is not justified, the fact that the budget has been prepared on the basis of a price of $ 90 a barrel, while the price of oil not less than $ 100,
meaning that the budget must achieve a large surplus, especially as the rates of achievement in most Iraqi provinces did not exceed 40%, and in some of them was zero,
Millionday: NOTE -- THE RISK OF BANKRUPCY IS BY 2017
Millionday: "explaining that the amounts retained from previous budgets up to the year 2012 was more than $ 50 billion, raising questions about the real reason to talk about the deficit,
if not a new attempt to steal public money and turn of the benefits and personal gain of senior officials in the state.
He was surprised at the British Center of managed economists and advisers Government Iraqi of budgeting since 2014, in the absence of a clear final accounts which show the real expenditure of its resources, and allow exchange control orders,
indicating clearly on the fears of disclosure, and deliberately hide for fear of disclosure of large financial and administrative corruption suffered by Iraq years ago.
Millionday: NOTE -- THE LACK OF UNDERSTANDING OF WHY THEY HAVE NOT MOVED FORWARD IS VERY ENCOURAGING AS TO WHAT THEY ARE POSITIONED FOR THROUGH BUDGET AND ECONOMIC PREPARATION
Millionday: . The report pointed out that "the deduction of 15% of the allocated oil investment budget has contributed to the reduction of Iraqi exports of 2.62 million barrels per day to 2.28 million barrels during the past three months, what impact clearly on state revenues and plans to increase exports to more than 3.5 million barrel during the year 2014 ".
He continued that "the giant oil companies are unable to cope with the volatile environment of the Iraqi economy, threatening the withdrawal of it,
in addition to the security factor of financial and administrative corruption, bureaucracy and a lack of experience and the need for Iraq to infrastructure and the training of 70 thousand workers factor highlights in oil sector to reach the desired goals. "
Millionday: NOTE -- THE ECONOMY IN ITS CURRENT FORM AND THE THREATS OF CONTRACT REMOVAL ARE PRESSURE IN ITSELF -- LACK OF CITIZEN BENEFITS ETC
Millionday: He that "the real deficit in the Iraqi budget has today risen to $ 32 billion in the absence of agreement between Baghdad and Erbil on the export of oil, and the adoption of five dollars in compensation to each province producing oil, and the adoption of laws that do not fit and the ability of Iraq to withstand financial burdens."
The center said in his report that "financial and administrative corruption in Iraq has led to the emergence of a new class of rich and new private entrepreneurs affiliated with the Iraqi government, and who came to get rich quickly,
prompting the appearance of the luxury goods market in Iraq, most notably private jets whose prices could reach 16 million dollars, while one-third of the Iraqi people live below the poverty line.
Millionday: SO -- THE OIL AGREEMENT IS IN DISAGREEMENT OVER THE 5 DOLLAR DISTRIBUTION AND THE ADOPTION OF LAWS NEEDS TO BE DONE TO SAVE ECONOMIC BURDENS
slh5282: does it appear that they are gagging on the gnats and swallowing the camels so to speak? they are letting the entire economy of IRAq go down the tubes.
Millionday: THE THREAT OF COLAPSE IS REAL WHEN TRANSITION TAKES PLACE HOWEVER OBVIOUSLY THE PAY OFF FOR THE COUNTRY FAR OUT WEIGHS THE BENEFITS IN SITTING ON THE REFORMS ETC -- THERE ARE NONE
diane1: CAN THEY HOLD EVERYTHING UP FOR THE OIL AND GAS LAW OR CAN THEY MOVE FORWARD WITH SOME KIND CURRENCY REFORM.
THE TARIFFS ARE STILL ON SCHEDULE FOR AUGUST 1, 2015, DO THEY NEED A RATE BEFORE OR SHORTLY AFTER TARIFFS GO INTO EFFECT. SO FAR I HAVE NOT READ OF ANY POSTMENT
Millionday: THE DISTRIBUTION OF FUNDS IMO WOULD BE HELD UP AS MUCH AS POSSIBLE AS NEW REGULATIONS /LAWS ARE COMPLETED---
THE TARIFFS/CUSTOMS AND THE NEED OF THE INTERNATIONAL EQUATION AND ITS TIMING IS EXACTLY THE QUESTION -- AT THIS POINT NO ONE KNOWS
puffdragon: So this is about a 5 dollar disagreement ?? Thats what is holding hcl up ?
Millionday: NOT THE HCL -- THE ERBIL OIL AGREEMENT -- EVEN THOUGH THEY ARE RELIANT ON EACH OTHER ETC
Millionday: THIS ISSUE MAY RESOLVE BUT THE INK HAS NOT STATED WHAT THE HOLD UP ON HCL IS -- JUST THAT IT IS VERY SMALL AND RESOLVABLE
jackflash101st: sounds to me its going just exactly the way maliki had planned..jmo
Millionday: THANK YOU JACK
Millionday: >>>>>THE UN HAS SIGNED OFF ON THE IRANIAN NUCLEAR DEAL
Millionday: >>>>>> THE US EMBASSY HAS OPENED IN CUBA
larrykn: how can the UN sign off on this when the US congress hasn't approved it yet
Millionday: INTERNATIONAL LAW MAKERS OUT WEIGH THE US CONGRESS NO MATTER WHAT POWERS THEY THOUGHT THEY HAD ---- THE UN OVERRIDES
Larrykn: so why even bring the US into this all together then
Millionday: VERY INTERESTING QUESTION -- I AM SHOCKED TOO AT THE SPEED THIS WAS ADDRESSED IN THE UN
Millionday: IM SURE THEY ARE AS WELL
hawk: now we wait about 90 days for the Iranian sanctions to be released, TY
Millionday: IRAN CERTAINLY WAITS -- I FIND THAT POINT VERY INTERESTING TOO
hawk: curious indeed
Millionday: GOOD POINT HAWK THANK YOU
quicktolegit96: SO THIS MAY INDRIECTLY TIE INTO IRAQ, AND PUT MORE PRESSURE IN THEM IN SOME WAY I WOULD THINK TO GET THIS DONE - RV...IDK - TRADE AGREEMENTS? YOUR THOUGHTS?
Millionday: THE MAJOR ECONOMIC POSITION OF IRAN IN THE AREA IS UNDENIABLE
THE CHANGE WITHOUT SANCTIONS BEING RELEASED COULD COME FROM ANOTHER ECONOMIC POWER AND SHIFT THE LACK OF US INVOLVEMENT TO GREATER AND ALSO ADD INTERNATIONAL COMPLIANCE ETC IF IRAQ MOVES FORWARD TO GLOBAL TRADE/MARKET ETC ----
OBVIOUSLY THE CHANGE WOULD BE ATTRACTIVE WITH THE HOPES OF MINIMIZING IRAN MONOPOLY IN SOME CASES IMO
diane1: does iraq have to wait for iran for monetary reform or is iran on their own, or will Iraq make the energizer bunny and hurry this thing along. I don't trust Iran at all
Millionday: IRAQ IS INDEPENDENT -- THEY DO NOT HAVE TO WAIT FOR IRAN TO IMPLEMENT ANY REFORMS
larrykn: there seem to be only one other power house in the world that could pull this off and that is China, maybe its them trying to control what is going on in the ME. and since the US doesn't want to show its force they are seeing an opening
Millionday: THERE ARE MANY MAJOR PLAYERS AND ENOUGH FOR EVERYONE WITH A NEW MARKET SHARE THIS SIZE OPENING UP –
CANT EVEN IMAGINE THE HUGE OPPORTUNITY THE GOVERNMENTS HAVE AVAILABLE FOR THEIR ECONOMIC NEEDS FOR CHANGE -- MASSIVE
jtank: Thx Md--are Iraq and Iran in competition for oil sales?
Millionday: IT DEPENDS ON HOW YOU LOOK AT IT -- THE INVESTOR WOULD PROBABLY TAKE A LOOK AT THE DEMOCRATIC POSITION OF IRAQ AS OPPOSED TO IRAN AND THE INTERNATIONAL LAW BEHIND TRADE IN IRAQ ETC –
HOWEVER THE MARKET IRAQ IS HEADED FOR PLAYS A PART -- SO MANY MOVING PARTS BUT IRAQ IS SECOND IN PRODUCTION
slh5282: With the NEW MARKET AND THE AVAILABILITY THAT IS WHAT I AM NOT UNDERSTANDING THE PROCRASTINATION TO CHANGE THE VALUE OF THE CURRENCY
AND BRING THE NATION TO A STRONG FINANICAL POSITION AND DEPENDENCY ON NO ONE,
AM I MISSING SOMETHING OR IS THIS A PROCESS TO SEE HOW FAR DOWN THEY CAN GO, IS THIS MALIKI BEHIND ALL OF THIS AND IF SO WHY DOES ALBADI LET THIS CONTINUE?
Millionday: MALIKI CANNOT HOLD THE REFORMS OF A COUNTRY HE DOES NOT LEAD ----THE TIMING IS VERY IMPORTANT FOR ALL PLAYERS ---
Comments may be made at the end of Part 2 Thank You