Post From Wealthwatch.world Chat Room 7-17-15 Part 3 of 3
Evening Discussion With Sczin11 – Butifldrm & OOTW
Butifldrm: Oil today is close to 51 dollars per barrel
Butifldrm: When Iran comes on board next month we will have to wait and see what it will be
Butifldrm: Article out there stating OPEC should reduce production
OOTW: SO YOU'RE THINKING IS IT WILL DROP EVEN FURTHER?
OOTW: AH OK
OOTW: SO THE OPPOSITE?
OOTW: NEVERMIND LOL
Butifldrm: But articles out of Iraq stating that Iran will not affect oil prices
Butifldrm: This is a wait and see
OOTW: WELL THAT'S SOMETHING..NOT SURE THEIR NEXT YEAR'S BUDGET CAN AFFORD MUCH MORE OF A DROP
Donnie: unless demand worldwide picks up, how can the price not drop with Iraq increasing production and Iran coming on-line to sell to anyone.
Butifldrm: The Budget is approaching for Iraq and its important they get the oil pricing correct
Butifldrm: You are so right‹@Donnie›
sczin11: ‹@OOTW› AH, AND THUS THE NECESSITY , AMONGST OTHER THINGS, CUSTOMS AND TARIFF IMPLEMENTATION....NOW
Butifldrm: Yes Sir‹@sczin11›
Butifldrm: Iraq is at a crossroads
OOTW: YES, LET'S WAIT AND SEE IF THEY ACTUALLY START THE TARIFF'S AUG 1 - BIG WAIT AND SEE ON THIS, ALTHOUGH PRESS RELEASES FROM THE CUSTOMS SITE CONFIRM THIS MOVE
sczin11: ‹@Butifldrm› AND IF THEY DONT INCREASE THE PURCHASING POWER, YOU CAN FORGET ABOUT TARIFFS DOING ANY GOOD
TxBrand: 2 weeks
Butifldrm: Iraq the Shia led government needs to move forward fairly with reform and the Sunnis and Kurds need to be addressed
sczin11: ‹@TxBrand› LESS, :)
Butifldrm: This move will be the only way to reforms
Butifldrm: Shia are trying to get reconciliation, yet they have given 0 concessions
TxBrand: 14 days
OOTW: TRUE BUTI
Butifldrm: Scizn you are correct
sczin11: ON A SIDE NOTE... HAPPY FIVE WEEK ANNIVERSARY..... 671 MEMBERS AND CLIMBING EVERY DAY......THANK YOU BUTIFLDRM AND OOTW FOR ALL YOUR DEDICATION AND INSIGHT...KNOWLEDGE AND RESEARCH....
Butifldrm: Iraq and ten years of corruption has made a bad bed
OOTW: SCZIN11 SAME TO YOU HON
Butifldrm: Scizn and OOTW luv you both
sczin11: ‹@OOTW› IT IS TRULY MY PLEASURE TO BE A PART OF YOUR TEAM....
Butifldrm: Plus everyone else that contributes to this site
sczin11: ‹@Butifldrm› LOVE YOU TOOO....SIS
Butifldrm: I love the fact that we can have free conversation about Iraq and anyone is allowed input
sczin11: OKAY FOLKS.... ANY QUESTIONS OR COMMENTS... JUMP IN NOW
Butifldrm: We are all still kearning
OOTW: YES WE HAVE A GREAT SET OF MEMBERS..TY ALL
OOTW: YES, IT'S AN EVERYDAY THING, ESP WITH IRAQ
Butifldrm: Lol Yall must know I cant type
sczin11: I JUST LOOKED UP KEARNING, LOL
sczin11: KERNING =SPACE BETWEEN FONTS
Butifldrm: Oh yea
tourman: I sit at my computer and read the news, watch the conversations and debates and still wonder why is there a resistance to revalue their currency.
We hear/read that some officials are screaming for the value of their currency be raised. What common denominator is affecting the decision to move forward?
We see there is still turmoil in the gov. We see the CBI still scooping up money thru the auctions. In the mean time the average Iraqi suffers and lives their lives with little hope that their government is working for them. Man that sounds familiar!.
Butifldrm: I like to give space
OOTW: SO TRUE, TOURMAN, BUT I DO BELIEVE FOR THE FIRST TIME, WITH THE ABADI GOVERNMENT, WE'RE IN A MUCH BETTER PLACE THAN WE'VE EVER BEEN, BUT YES, YOU'RE RIGHT..
OUR CONCERNS RE IRAQ ARE NOTHING COMPARED TO THE WOES OF THE PEOPLE
sczin11: ‹@tourman› WELL STATED
Butifldrm: ‹@tourman› we have to go by the documents from the CBI and the CBI states they have 1.5 times the reserves to cover the currecy
OOTW: SCZIN11 HUGS
Butifldrm: Yes well stated
: ‹@OOTW› awwwwe
Butifldrm: I know but I'm being conservative
OOTW: YES THANK YOU BUTI
Butifldrm: ......now we really have to believe from that they have 40T in circulation
Butifldrm: I have my doubt about that or they would not be in a liquidity s crisis
Butifldrm: IMO most of the Dinar is being held in State Owned Banks
Butifldrm: That could be easily remmedied
sczin11: ‹@Butifldrm› BASED ON 68B IN RESERVES, AT 2:1, WHICH WAS LAST UPDATED STATEMENT BY KEYWORDS, THAT WOULD TRANSLATE INTO ABOT 34T OUT THERE, NO?
tourman: Sorry all, just getting anxious again for this to be over.... Just venting. :w00t:
sczin11: ‹@tourman› NO SORRY, YOUR THOUGHTS ARE VERY PROVOKING
Butifldrm: I'd have to go back and find an article which came out from a credit card company stating how much IQD was in the hands of the public , but if my memory is correct it was about 49% of 49T
sczin11: GREAT CONVERSATION, AND WELL THOUGHT OUT
tourman: ‹@sczin11› :grin:
Butifldrm: Oh sorry 40 T
utifldrm: ‹@sczin11› yes
OOTW: TY BUTI AND SCZIN11
Butifldrm: I don't think we have to worry so much about the currency in the state owed banks
Butifldrm: Just what the public holds
Butifldrm: That is why they need to allow for deposit insurance and electronic banking
Butifldrm: A war on cash. Lol
Butifldrm: 80 of Iraqis still don't trust the banks
sczin11: ‹@Butifldrm› PROBABLY 75% OF THAT 80% DONT NEED A BANK ACCOUNT
UNEEK: ‹@OOTW› ‹@Butifldrm› ‹@sczin11› wow all three in here at the same time ..... glad to be here - even on the sideline observing -- great discussion all day long -- thank you all
Butifldrm: ‹@sczin11› So right
OOTW: TY UNEEK
sczin11: ‹@UNEEK› :)
Butifldrm: ‹@UNEEK› so glad to see you
Dianne777: ‹@Butifldrm› ‹@Butifldrm› I dont trust them either lol
Butifldrm: ‹@Dianne777› I know that's right
sczin11: ‹@OOTW› WHICH LEADS US BACK TO THE PURPOSE OF TARIFFS, AND THEIR LACK OF POSITIVE INPUT, WITHOUT .......... PURCHASING POWER!!!
OOTW: YES AND WHY THE IMPLEMENTATION IS SO IMPORTANT AND BECAUSE IT'S SO IMPORTANT, IT ALSO CARRIES WITH IT THE POTENTIAL (WITH THIS WEIGHT) ITS FRAGILITY
OOTW: THE TARIFF ISSUE IS A CATCH 22
OOTW: *OF ITS FRAGILITY
Abraham: Applying the tariffs without a revaluation will cause social unrest. They have to revalue! They want to revalue, IMF says Ok go to a market based economy
Butifldrm: I believe this lifting of sanctions on Iran may help Iraq's taffs problem
Abraham: One hand can't clap