Millionday Roundtable 1/16/15 Part 2
Welcome to dinarupdates.com for Roundtable with Millionday!
m1dallas Millionday: My Question is....IS IRAQ Losing money at this Oil prices??? And that Is it in their Best Interest...right now to revalue right now to get in to market rate/??
And Also we have heard CBI is Independent to GOI...But does it seem like they are waiting for GOI....to give them a GREEN LIGHT....So to speak??
Millionday: EVERY OIL EXPORTING COUNTRY THAT RELIES ON OIL LIKE KUWAIT RELIES IN THE HIGH 90% RANGE AS WELL HAS HAD TO MAKE ADJUSTMENTS –
IRAQ WAS REQUIRED AND ASKED ETC TO DIVERSIFY THEIR GDP BY MOST ALL ORGANIZATIONS THEY ARE PART OF INCLUDING THE WTO ANYWAY
BUT THEY HAVE MADE MANY ADJUSTMENTS IN WHAT THEY ARE GOING TO DO WITH THE MARKET ECONOMY THEY ARE CONSTITUTIONALLY BOUND TO CREATE
BUT THE PRIVATE SECTOR IS THE HEART OF ALL COUNTRIES (BUSINESSES OF THE PEOPLE) AND THEY ALSO HAVE THE ISX -- --
THE DEFICIT WOULD BE SUCH A HARD THING FOR IRAQ TO DIMINISH IF THE PRICE OF OIL IN THE WORLD MARKET HAD REMAINED AS IT WAS –
HOWEVER THEY HAVE MADE MANY ADJUSTMENTS TO HELP WITH THAT AS WELL
TAXATION (IN COUNTRY AND TARIFF) AND ALSO KUWAIT AGREEING TO HOLD OFF ON AGREEMENT OF THE 5% OF OIL PROCEEDS FOR A YEAR AND ALSO THEY HAVE TAKEN LOANS AND SET UP A BOND PROGRAM AS WELL -- THE LIST IS LONG THAT
Millionday: THEY HAVE CREATED TO HELP TO RESOLVE THE DEFICIT AND THE ECONOMIC DAMAGE DONE BY THE PRICE OF OIL AND THE WAR ON TERRORISM----
IT WOULD VERY MUCH BE IN THEIR BEST INTEREST TO REVALUE THEIR CURRENCY RIGHT NOW AND ENTER THE GLOBAL MARKET DUE TO THE DIVERSITY THAT THEY CAN TAKE ADVANTAGE OF AND THE MANY JOBS IT WOULD BRING ETC ETC ---
CBI IS INDEPENDENT BUT ALSO THE COUNTRY HAS TO BE INTERNATIONALLY COMPLIANT ECONOMICALLY AND WITH THEIR REGULATIONS FOR THE WORK OF CBI TO BE A SUCCESS
AND ALSO THE LAWS HAVE TO BE IN PLACE IN ORDER FOR IRAQ TO TAKE ADVANTAGE OF THE REFORMS THEY HAVE PLANNED FOR THEM AND THE WORK THEY HAVE DONE
Millionday: YES CBI HAS THE RIGHT TO SET THE EXCHANGE RATE AND THEY ARE INDEPENDENT BUT THE INTEREST HAS TO BE FOR ALL AND FOR SUCCESS BOTH FOR IRAQ, ITS CITIZENS, AND FOR THE REGION
Millionday: DOES THAT MAKE SENSE?
Millionday: IN OTHER WORDS -- THEY ARE NOT WAITING ON A GO AHEAD FROM THE GOVERNMENT--
OR AT LEAST THEY DONT HAVE TO BUT THEY STATED THEY WERE PREPARED TO RAISE THE PURCHASING POWER OF THE DINAR AND SET THE INTERNATIONAL RATES WHEN THE TIMING WAS RIGHT ---
Millionday: FOR IRAQ -- IF RIGHT NOW BECAME A SHOW OF POWER -- IT WOULD BE A DISASTER AS WAS WITNESSED IN THE PAST YEARS -- SMILE
m1dallas Millionday: BUT UNLIKE OTHER COUNTRIES ...IRAQ'S MAIN INCOME IS OIL....
SO EVEN HIGHER TAXATION...OIL PRICES MORE THAN 50% DOWN....DO U SEE IRAQ BE ABLE TO MAKE ADJUSTMENTS THAT MUCH....???
THEREFORE WOULDN'T REVALUE IMMEDIATELY GET THEM OUT OF HOT WATER...RIGHT NOW??
AND IF SO...WHY NOT REVALUE IMMEDIATELY??
I MEAN SEEMS LIKE THEY HAVE TO BE IN A WORLD OF HURT RIGHT NOW...
AND I THOUGHT THE LAWS WERE IN PLACE....THOUGHT ONLY THING TO BE BUDGET TO BE APPROVED AND IMPLEMENTED.
Millionday: THE REGION AND MORE COUNTRIES THAN WHAT YOU THINK RELY ON OIL --- HOLD ON ONE SECOND -- BRB
Millionday: I NEVER USE THIS SITE AS A REFERENCE BUT IT IS THE EASIEST TO SHOW YOU AND QUICKEST –
- BUT LOOK AT THIS >>>Kuwait is a small, relatively open economy.
The Kuwaiti currency is the highest-valued currency unit in the world. Kuwait has nearly 10% of the world's oil reserves.
Petroleum accounts for nearly half of GDP and 95% of export revenues and government income. In recent years,
Kuwait has done little to diversify its economy due to positive fiscal situation and hostile relationship between the parliament and government, which has prevented the implementation of economic reforms.
Millionday: 95% FOR KUWAIT AND THE LIST IS HUGE AND MUCH MORE OUT THERE TO SHOW YOU BUT -- THE POINT MADE WITH JUST THIS FOR THAT PART
Millionday: THE BEAUTY OF IRAQ AND HOW THEY ACTUALLY DO THEIR LAW SYSTEM AS FAR PUTTING IT TO LAW -- IS THAT THE FINAL STEP IS TO PRINT IT IN THE GAZETTE (IRAQI LAW BOOK FORMAL)
SO YES THE LAWS ARE DONE BUT IN ORDER TO MAKE THEM ACTIVE THE MASSIVE PRINT I PREDICT--
WILL MAKE THEM ALL AT THE SAME TIME BE EFFECTIVE AT THE RIGHT TIME AS THE REFORMS ARE ALL DONE AND RELIANT ON EACH OTHER -- THIS MAKES GREAT LOGICAL SENSE ----
THE LAWS THAT ARE BEING DONE ON TUESDAY WITH THE BUDGET HAVE BEEN REPORTED TO BE THE FEDERAL SUPREME COURT AND AMNESTY AND PARTY LAW –
THEY HAVE 200+ THAT ARE ALL DONE AND NEED TO BE PRINTED TO BE ACTIVE SO THAT ONE DOES NOT MAKE ANOTHER UNLAWFUL OR UNCONSTITUTIONAL
Millionday: I REALLY SEE THIS AS A GENIOUS PLAN AND THAT IS WHAT WE HAVE BEEN WATCHING UNFOLD –
THE AGREEMENTS WITH THE ERBIL AGREEMENT AND ALSO TO HAVE A UNIFIED GOVERNMENT WAS A HUGE STEP AND THEY HAVE NOT REVALUED YET BECAUSE AS CBI STATED IT MUST NOT BE THE RIGHT TIME ---
THEY WILL NOT ANNOUNCE IT BEFORE BUT TO SEE SO MUCH DONE THAT WE HAVE WATCHED HAPPEN -- IT IS OBVIOUSLY VERY CLOSE TO A PERFECT TIME FOR THEM IMO ---
AND YES THEY NEED IT VERY BAD FOR THE CALL OF INVESTMENT
1marsha: SO WHEN YOU SAID FOR IRAQ -- IF RIGHT NOW BECAME A SHOW OF POWER -- IT WOULD BE A DISASTER AS WAS WITNESSED IN THE PAST YEARS -- SMILE I GUESS I THOUGHT THE RV WOULD DO THAT AND ANYTIME WAS GOOD
Millionday: I MEANT WITH THE LEADERS –
IT IS WORKING GREAT FOR EVERYONE THAT THEY ARE WORKING UNIFIED AND IT WOULD NOT BE GOOD FOR THAT TO CHANGE LIKE IT WAS WHEN MALIKI WAS SHOWING HIS POWER AROUND THE WAY HE WAS
1marsha: OHHHHHHH THANKS SO MUCH
Millionday: AND OH YES -- WHEN THEY ENTER THE GLOBE AS A TRADING HUB -- IT IS GOING TO BE HUGE FOR MANY COMPANIES AND ALSO COUNTRIES -- IT IS NEEDED DUE TO THE GLOBAL ECONOMIC CONDITION IMO
sunnyca: Millionday Do you think all of the laws will be printed after that Budget it passed on Tues?
Millionday: I THINK THAT ALL THE LAWS THAT ARE GOING TO BE CHANGES FOR THE REFORMS TO TAKE PLACE AND FOR IRAQ TO ENTER A MARKET ECONOMY WILL BE PRINTED ALL AT THE SAME TIME
sunnyca: Ok not saying they will all happen with the Budget right?
mrref1216: The RV will not be announced in the Gazette...It is not a law....smile The CBI is totally independent of the GOI
Millionday: NO THE REVALUE OR CHANGE IN PURCHASING POWER /REDENOMINATION/AND INTERNATIONAL RATE CHANGES WILL BE ON THE MARKET/BANK/CBI/MONEY EXCHANGE BUSINESSES/
AND EVEN YOUR SMART PHONE WHEN THIS CHANGES AND THEY ARE INTERNATIONALLY RECOGNIZED AND THEIR CURRENCY IS PUT ON THE CURRENCY MARKET FOR SALE (AS IN FOREX ETC)
Millionday: LET ME SAY
Millionday: YES CBI IS TOTALLY INDEPENDENT FROM THE GOI -- HOWEVER -- THE ENTIRE ECONOMIC REFORM IS NOT JUST CBI BUT THE MONETARY POLICY AND ALOT OF BANKING IS COMBINED IN MANY WAYS WHEN SUCH GREAT CHANGE TAKES PLACE ----
NO CBI DOES NOT HAVE TO WAIT FOR GOI BUT THEY ARE ALSO FOR IRAQ AND SUCCESS IN SUCH A GREAT PLAN AND WHAT THE RESULTS ARE SUPPOSED TO BE SHOULD BE EXTREMELY IMPORTANT TO THEM AS WELL
Millionday: I HAVE ONE MORE REPORT FOR YA
Millionday: NOTE -- THIS GOES ALONG WITH WHERE WE ARE AND ALSO THE STEPS THAT CBI STATED THEY WOULD BE TAKING TO MOVE FORWARD WITH THEIR PART OF REFORMS AND ALSO ONE OF THE HUGE STEPS THAT TAKES PLACE FOR DEVELOPMENT AS HISTORY HAS SHOWN AND ALSO A WAY TO MINIMIZE THE DEFICIT
Millionday: Parliamentary Finance Committee revealed, on Friday, for borrowing money from the World Bank and cash to address the shortfall in the draft federal budget law of the country for the current year.
Said committee member Najiba Najib told / information /, "The 2015 budget passed in the House of Representatives is the message of reassurance to the Iraqi people,"
asserting that "the adoption of the budget with its own problems better than traceable to the Council of Ministers and not to vote for them."
Millionday: NOTE -- THE LOAN FOR THE WORLD BANK -- AS WE KNOW FOR DEVELOPMENT IN ITS BEGINNING AS WE HAVE SEEN IN OTHER COUNTRIES AT A VERY CRUCIAL TIME AS WE SEE WITH IRAQ
Millionday: "The big challenge facing the budget due to the continued decline in global oil prices is to challenge everyone," indicating that "the vote on the 2015 budget means authorize the government in the face of falling oil prices by borrowing money or find effective solutions to address the deficit."
Najib explained that "the payment of the shortfall in the 2015 budget will be through borrowing from the International Monetary Fund and the World Bank or a number of other financial measures.
Millionday: WHOOOPOW -- THE LOANS FROM THE WORLD BANK AND THE IMF --- TRUST ME THIS IS A HUGE FIND AND A GREAT ANNOUNCEMENT
Millionday: I AM OFFICIALLY EXCITED
Kountryway: Did you see where the Kurd al-Ulum threatened to encourage a "no" vote on the budget in lieu of an additional 3% above their 17%?
Millionday: YES -- THE REPORT WAS RIDICULAS WASNT IT -- LOL – SOME OF THE MEDIA HAVE LOST THEIR MIDS –
THEY HAVE MADE PRESS RELEASES THEMSELVES IN KURDISTAN ABOUT HOW HAPPY THEY ARE -- YES THEY WERE IN ARABIC BUT STILL HOW FUNNY FOR THAT TO EVEN BE OUT THERE
jarhead: they need a RV...not loans
Millionday: JARHEAD I DISAGREE -- THEY NEEDED THAT LAST STEP IMO --- GREAT NEWS AND WAS EXPECTED
Millionday: SEE YOU AT 730 EST TONIGHT FOR NEWSTIME