Post From Wealthwatch.world Chat Room 8-13-15
Wealthwatch OOTW Afternoon Chat 8-13-15 Part 2 of 2
Fit2beFit: Why would it go up in value if it were "international"? Why would there be any increased demand for it when the only thing that Iraq sells is oil and that isn't purchased in dinar?
And Iraq wouldn't WANT it to be purchased in dinar, they'd much rather have USD and Euros and Yuan or whatever else, because they can use those to easily purchase the imports that they so desperately need.
OOTW: RIGHT NOW FIT, WE'RE LOOKING TO SEE PRIVATE SECTOR DEVELOPMENT, THIS WILL LEAD TO SUPPORTING THE DINAR'S VALUE
OOTW: THE AUCTIONS ARE STILL ALL OVER THE PLACE IN VALUE PER IQD
OOTW: CASH SALES ARE VERY LOW
OOTW: CORRUPTION IS STILL ONGOING AS EVIDENCED THE "ALL OVER THE PLACE" AUCTION RESULTS
Fit2beFit: ‹@OOTW› good point x 10, i'll email him back that, Thanks Again
OOTW: A CURRENCY IS NOT STABLE UNDER SUCH CIRCUMSTANCES, SO OF COURSE THEY'RE GOING TO ALLOW OTHER CURRENCIES TO BE USED
tourman: development of the private sector is not an overnight thing. this will take some time to develop.
OOTW: REMEMBER WE SAW A COUPLE WEEKS BACK THAT MONEY ORDERS (THE EQUIVALENT) WERE BEING SOLD IN HIGH VOLUMES AND ALL THE PHOTOS I SAW RELATED TO THESE ARTICLES SHOWED IRANIAN RIALS IN THE PICS....SO THIS IS AN EXAMPLE OF ANOTHER CURRENCY IN USE IN IRAQ
OOTW: AGREED TOURMAN
OOTW: ALSO, REMEMBER THAT THE MOT PUT OUT AN ARTICLE STATING THAT THE GOI IS SOLIDIFYING THEIR WTO FULL ASCENSION PROCESS IN ORDER TO BE PREPARED FOR THEIR NEXT MEETING
OOTW: I KNOW I SOUND LIKE A BROKEN RECORD, BUT SERIOUSLY, PROGRESS TOWARDS THE REFORMS WE WANT TO SEE ONLY JUST BEGUN 11 MOS AGO
OOTW: *BY THE (RE AUCTIONS INFO ABOVE)
tourman: ‹@OOTW› and that is not much time passed.. not for an country the size of Iraq. This will take at least another year to fully develop where the economy is free of using oil
OOTW: I'M INCLINED TO AGREE WITH YOU TOURMAN
Donnie: Here is a list of products included on the Customs and Tariffs law. www.customs.mof.gov.iq/no...
OOTW: IF WE GET A JUDGE LESS CORRUPT THAN MAHMOUD HEADING THE JUDICIARY, I TRULY WILL FEEL LIKE WE HAVE A GOOD CHANCE OF SOME CONSISTENT FORWARD PROGRESS
tourman: will this take our liquidity forward another year? hmmmm. Could! :sad:
Donnie: another list of items in the Tariff Law www.customs.mof.gov.iq/no...
tourman: only a 5% tariff on gunpowder :w00t: :grin:
tourman: 50% on fireworks GEEZ...
Donnie: ‹@tourman› lol
OOTW: THIS IS FROM THE MINISTRY OF FINANCE SITE
OOTW: A statement from the Ministry the financial the Thursday 13 August 2015 images.jpg Response from the Ministry of finance to support the development needs of the precise circumstances of the country, the Ministry was able to provide $ 750 billion dinars for the purpose of ensuring the requirements of ministries and governorates and regions development
and ongoing investment plan projects including contract expenses and wages, that amount shall be distributed in equal proportions among beneficiaries, and will begin the Exchange next week.
OOTW: REMEMBER THE RECENT COM ANNOUNCEMENT STATED THAT THE PROVINCES SHOULD HAVE FULL POWERS ASCRIBED TO THEM WITHIN THREE MONTHS?
OOTW: THIS IS A GREAT STEP FOR US TO SEE , PROVING THE GOI INTENDS TO FOLLOW THROUGH
tourman: ‹@OOTW› is good news
OOTW: WE WANT ECONOMIC LIBERATION FOR ALL THE PROVINCES, BUT NOT ONLY THAT, WE WANT TO SEE THE GOI STICKING TO THE PROVINCIAL LAW 21 OF 2008
BB824: It is a good question on the reasoning and drive for iraq to truly want to have their own currency when it comes to oil they don't use or need it
OOTW: YES IT IS - IT'S VERY GOOD NEWS THAT THE GOI INTENDS TO ADHERE TO LAWS - LOVE IT
OOTW: YES BB - I HAVE TO SAY, I REALLY JUST WANT MOHSEN GONE NOW - I FEEL LIKE THE GOI NEEDS TO REPLACE HIM - HE JUST SEEMS LIKE A COMPLETE PUPPET TO ME
tourman: whos behind that puppet? M?
OOTW: HI PRECIOUS - SO GREAT TO SEE YOU HONEY!
OOTW: WELL, WE DON'T KNOW FOR SURE, BUT I DO FEEL CONFIDENT HE DID NOT AUTHOR THE CBI VERSION OF WHAT'S NEEDED TO IMPROVE THE ECONOMY
OOTW: AT LEAST NOT ON HIS OWN
tourman: I wonder what or how much of Dr. S plan is being implemented in the CBI or if at all.?
Donnie: Sereni denies: I did not expect Abadi subjected to assassination
Donnie: Brother - Baghdad MP denied the Kurdistan Sirwan Sereni represented to him the Washington Post newspaper that he expected Prime Minister Haider al-Abadi subjected to an assassination attempt or the destruction process coup against him on the back of announcing a package of government reforms and the fight against corruption.
Said Sereni in Matmrsahvi that dialogue with the representative newspaper eating support Congress of the Kurdistan Democratic Party package of reforms announced by the Prime Minister and the difficulties faced by the Abadi in the implementation of Amracalh senior officials mechanism and pattern formation of the current government and the previous governments that relied on the participation of all of the blocks winning the election, denying strongly addressed to the coup or an assassination attempt on the prime minister.
Sereni delegate accused the newspaper omit paragraphs task of meeting and twist his words incorrectly and said that this is contrary to the work of professional media professional, expressing regret for the rush, some local media outlets and the transfer of Nscherbr is incorrect. www.khabaar.net/index.php...
Donnie: Abadi relieve the Secretary General of the Council of Ministers and his aides from office
Donnie: Alsumaria News / Baghdad Issued Prime Minister Haider al-Abadi , Wednesday, Dioanaa order to exempt the Secretary General of the Council of Ministers Hamid Khalaf and his aides from office.
An informed source said in an interview with Alsumaria News for, "Prime Minister Haider al-Abadi, issued today, is exempt Dioanaa Secretary General of the Council of Ministers and his aides from office", without giving further details. >
Abadi, head to Cairo on an official visit > Abadi up to Samarra to oversee military operations against "Daash" The Prime Minister expressed Haider al-Abadi, on Wednesday, he expressed the hope to obtain a mandate to change the constitution, and that one day after the approval of the House of Representatives unanimously passed a reform package that recently launched. www.alsumaria.tv/news/143...
tourman: ‹@Donnie› thats a relief :w00t:
BB824: Has re denomination been discussed cause in investment chat rooms that's what they all think
tourman: ‹@BB824› not here cause there is no ink stating such
MichelleL: ‹@BB824› good to know the chat rooms are going to give us the rv even if the cbi isn't lol
BB824: there is lots of ink in history on currency I asked because it's asked and stated alot in the stock currency trading arena
MichelleL: hi tourman, how are you feeling this afternoon?
MichelleL: how is the market doing this afternoon?
tourman: ‹@MichelleL› I am good thanks hun
Donnie: A message for the US Congress from Switzerland: The Iran deal is done
tourman: ‹@BB824› in what circumstances were these other currencies re-denominated? I think that is the question
MichelleL: ‹@tourman› good :) glad to hear it
Donnie: Somebody had to go first—why not the Swiss? News that Switzerland has become the first Western country to start lifting sanctions on Iran will no doubt be followed swiftly by reports of other nations (and corporations) seeking some of the Islamic Republic’s soon-to-be-unfrozen billions.
Russia and China have already begun talking up arms sales to Tehran; over the weekend, Moscow sent a pair of warships to the port of Anzali, to display Russian naval wares. For now, the Swiss are easing restrictions on harmless things such as precious metals.
But Iran’s military procurers will have made note of recent reports that Switzerland has eased restrictions on arms exports. Swiss-made tanks (known, puzzlingly, as Piranhas) and ammunition are already used widely across the Middle East. How long before munitions makers from Switzerland join the stampede toward Tehran?
MichelleL: thanks donnie
BB824: I am heavily invested in this but it a legit question
tourman: ‹@MichelleL› went to work yesterday, all went good.
Donnie: read the rest here: qz.com/478706/a-message-f...
MichelleL: ‹@tourman› so soon? you have a physical job, wish you had the leisure to take off longer
OOTW: ‹@tourman› WELL I DO THINK IT'S INTERESTING THAT THERE WAS AN ARTICLE IN RECENT PAST, QUOTING SHABS OPINION AND RECOMMENDATIONS OF CBI POLICY
Donnie: Iran Targets 45 Oil and Gas Projects in Plan to Boost Output
tourman: ‹@MichelleL› doc said my heart is fine... He is concerned about the catheter site on my groin.. No lifting anything over 10#
Donnie: Iran has selected 45 oil and gas projects to show international companies at a conference in London in December when new oil contract models will be discussed ahead of exploration auctions to double the country’s crude output.
The projects, including oil and gas exploration, will be discussed along with details of a new oil contract model at the Dec. 14-16 conference, Mehdi Hosseini, chairman of Iran’s oil contracts restructuring committee, said in an interview in Tehran.
Iran hopes to boost crude production to 5.7 million barrels a day, he said. The Persian Gulf nation’s output was 2.85 million barrels a day in July, according to estimates compiled by Bloomberg.
Oil producers such as BP Plc and Royal Dutch Shell Plc have expressed interest in developing Iran’s reserves, the world’s fourth-biggest, when sanctions are removed following last month’s nuclear agreement with world powers.
MichelleL: whats oil doing today?
Donnie: read rest here: www.bloomberg.com/news/ar...
BB824: ootw do you have a view on re domination
Donnie: ‹@MichelleL› "sliding" along lol
MichelleL: lol if this keeps up, they should be buying us gas instead of the other way around
OOTW: ‹@MichelleL› I'M GOOD MICHELLE, AND YOU?
tourman: ‹@MichelleL› crude at about $43
Donnie: Crude Oil 42.90 -2.52%
Donnie: U.S. oil extends slump, flirts with six-year low as stocks build U.S. oil futures fell more than 2% to trade near their lowest price in six and a half years, as data showing a big rise in key U.S. stockpiles intensified worries over a growing global glut. U.S. crude prices fell as low as $42.07 a barrel, just four cents above the six-year trough touched in March.
MichelleL: at this point, oil will be at that famous 35 bucks before we see an rv
tourman: gas i down here in AZ is about 15 cents
MichelleL: let me know when its down TO 15 cents lol
Doug_W: ‹@MichelleL› its just lying there underground SILLY
MichelleL: cost me 40 bucks to fill up yesterday, but I did add a car wash
MichelleL: lol Doug
tourman: ‹@MichelleL› :laughing:
MichelleL: howevva, I was filling the honda, its not like filling the truck
Doug_W: I put 36 gallons in my truck last week
MichelleL: my new "uber" car if this doesn't pop soon lol thats why I needed a car wash lol
Doug_W: teh warning lights N buzzers were going off constantly telling me OUT of gas
MichelleL: Doug thats 2 fillings for the honda, from empty
MichelleL: but like most men, you waited till you had to push it to get it into the gas station ROFL~
tourman: ‹@BB824› Re-denomination has nothing to do with Re-valuation. When a currency is redenominated the central bank of that country will reissue notes at a decided ratios for both speculators and its citizens.
For ex., If you have a 1000 INR note and Reserve Bank of India (RBI) redenominated at a ratio 1:10 then RBI will take your old 1000 INR note and issue you new 100 INR whose value stays the same.
Doug_W: no actually i WANTED TO BURN OUT ALL TEH OLD ITS ETHANOL
Doug_W: ethanol fuel goes bad after a few months
MichelleL: ethanol stinks, and its less efficient - you'd think with gas this cheap we could use the real stuff
tourman: ‹@MichelleL› is use my gas points from the store and get up to 20 cents off at the stores gas station
MichelleL: Doug thats why we have to use additives in all the mowing equipment
MichelleL: ‹@tourman› I've got 70 cents coming at my supermarket - better use it before it expires
Doug_W: I use ONLY non ethanol in all small engines
MichelleL: lower than 42 a gal now
MichelleL: where do you get it doug? we're victims of what they sell
Doug_W: at a sunoco station 20 mions from me
Doug_W: most marinas sell it too
Donnie: we have a few stations nearby that have a pump that is ethenal free
tourman: we have that special blend during the winter here....
MichelleL: but that makes sense, Doug, maybe I need to go and load the tank at a boat gas station
Doug_W: its about .50 more a gallon here tho
Dianne777: so did i read the above read right that we have at least a?nother year b4 rv
Dianne777: well i am lagging too!!!
MichelleL: ‹@Dianne777› however, for all we know it can be another year or three - we've had little luck in estimating an "ETA" on this thing