Thread: Iraq/Dinar News Before Febuary 12th, 2006

Originally Posted by dinartank

Why would you want that figue to be in the trillions??? This article would mean terrible news that the budget this year is over 42 trillion dinar. This is not good news as this means that they have printed more dinar or are planning too?? Can anyone explain this ....I thought the budget was gonna be set at 42 billion dinars and not dollars as some believe after a reval?? This surely makes me think it will be a long time comming what i ride its been my hopes and dreams are crushed for this up and comming new year but i do have other things to try and look forward too. Man what a depressing day. Can someone shed any positve light on this how this can be a good thing in any way shape or form

You're absolutely right Tank. We want 42 BILLION NOT TRILLION and the article said $42 BILLION. This is why we know that the budget based on 1260 was bogus. That would equal 50+ trillion. They don't even have half of that printed. That poster was wrong.

2007 Budget Passed!!
About time!
---------------------------
Thursday, February 08, 2007

Voices of Iraq: Parliament-Session-Update 1
Posted by: saleem on Thursday, February 08, 2007 - 10:04 PM

Parliament-Session-Update 1
Parliament passes 2007 national budget
By Santa Michael
Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday a ID 42,640,000 million (USD 32,200 million) FY 2007 budget.
The budget approval was delayed for almost two weeks for differences among major blocs over two issues, the financial appropriations for the three presidencies and allocations for Iraq's Kurdistan region's guards (peshmerga).
The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.
Earlier, the parliament speaker today's ordered a private session to give the defense minister, who was present at the session, a chance to answer lawmaker's enquiries openly.
Some legislators asked the Speaker to declare a private session so that the defense minister could answer all enquiries without harming any classified information that he might be mentioning during the session.
Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.
Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget.


FOUND ON INVESTORS HUB..................THIS MEANS TO ME 1 DINAR IS WORTH APPOX: 75 CENTS???????????? ANY THOUGHTS

Here is another article about the passing of the budget and this one is a little easier to read.....


Voices of Iraq: Parliament-Session-Update 1

BT10:04 PM -2007 -كتب: saleem في يوم الخميس, 08 فبراير,


Parliament-Session-Update 1
Parliament passes 2007 national budget
By Santa Michael
Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday a ID 42,640,000 million (USD 32,200 million) FY 2007 budget.
The budget approval was delayed for almost two weeks for differences among major blocs over two issues, the financial appropriations for the three presidencies and allocations for Iraq's Kurdistan region's guards (peshmerga).
The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.
Earlier, the parliament speaker today's ordered a private session to give the defense minister, who was present at the session, a chance to answer lawmaker's enquiries openly.
Some legislators asked the Speaker to declare a private session so that the defense minister could answer all enquiries without harming any classified information that he might be mentioning during the session.
Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.
Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget

Parliament-Session-Update 1 :: Aswat al Iraq :: Aswat al Iraq


The way I read this is that the budget is for 42 trillion, 640 billion NID (42,640,000 million) which is equal to 32.2 billion USD (32,200 million) so I don't see where there is a reval in this budget. 42.64 trillion NID = 32.2 billion USD. Therefore 1USD = 1324.3 NID (42,640,000,000,000 divided by 32,200,000,000). However, that being said the 1324.3 rate does not reflect the current rate of 1288 as per the CBI website. My feeling is that the budget was finalized last December when the rate was around that level and they are not worrying about adjusting it to pinpoint the actual values. That means that the budget will have to be re-calculated as the value of the dinar changes. At any rate I don't see the infamous "1260" or "1000" rates reflected here. Also interesting that the original estimate of the budget was 42 billion USD and now it's 32 billion. Looks like they did some trimming and coincidentally the 2006 budget was around 30 billion USD.

I see both good and bad in that. To me it means that the rate can be adjusted slowly or in one big adjustment. The budget will not dictate the rate. Actually, that is the way it should be as the CBI is the one that sets the rate and they are distinct and separate from parliament. Now the big question is when will the CBI adjust the rate and to what level. And for that I haven't been able to find a crystal ball that is clear enough. All the ones I have been able to find are clouded by a lot of smoke.

Did you all notice, that Goldraker stated the budget was approved yesterday. Even before it was confirmed by the GOI! Wow, how did he do that, well it has to do with mind altercation. Kind of just like time traveling. Except this is done by separating the subconscious thoughts. Into mind bending reads into the future. I can only expose certain things. As I am not allowed to affect history. I have already been threatened and warned! Not to expose sensitive future information! After I was caught profiting, from my abitities. And we all thought, we lived in a free world!

I will reveal more. Once we get closer, if I can.

Planning Minister optimistic about the granting of the Iraqi side of investment

Planning Minister optimistic about the granting of the Iraqi side of investment
MENAFN - 08/02/ 2007

by the Minister of Planning and Development Cooperation of Iraqis expressed optimism the granting of the investment within the budget 2007 pointing out that the rates of completion of the budget for the last year was modest, since the 2007 budget was adopted (???) in the resources key to Iraq's oil resources with a small percentage is not Shamat donor countries.

The minister stressed that there are many projects Alast Thmarih hopes accomplished and allocations side Alastthm I think in the 2007 budget increased to $ 10 billion Walt j will be spent on various projects, from the sector oil and electricity, and then the rest of the productive sectors, We hope that the returns on these projects Alaghtassa d Iraqi so as to achieve an improvement in the standard of living of a citizen the Iraqis achieve a reduction in unemployment rates.

The minister added that there is a lot of promises, including m proceed era Iraq,(???) which Tdarsenah and pulled a axioms the key with our partners and friends in the world in general , at the present time there are no specific commitments so far categorically, we hope to verify some of the promises by the States Alma Nah The President focused on the provision of State revenues of Iraqi The achievement percentages of the budget last year, it was in general, even a modest hit in some ministries 10% There ministries and completion rates have reached 60% and another achieved 70% and there are conditions which have led to these results Almtoad Eh the ministry delayed the formation of the Iraqi General Alma Duy to the middle of the year.

MENAFN - Middle East North Africa . Financial Network

Cheers!
DayDream

Originally Posted by dinartank

Why would you want that figue to be in the trillions??? This article would mean terrible news that the budget this year is over 42 trillion dinar. This is not good news as this means that they have printed more dinar or are planning too?? Can anyone explain this ....I thought the budget was gonna be set at 42 billion dinars and not dollars as some believe after a reval?? This surely makes me think it will be a long time comming what i ride its been my hopes and dreams are crushed for this up and comming new year but i do have other things to try and look forward too. Man what a depressing day. Can someone shed any positve light on this how this can be a good thing in any way shape or form

They don't have to have the entire budget's worth of dinar on hand at the beginning of the year. The currency cycles all the time. The 2006 budget was around 30 billion USD and they managed that with the current level of dinars printed and in circulation. And we know that 14 denominations were printed but only 9 have ever been released into circulation. So even less that the posted totals of the money supply is actually what is being circulated daily.

Originally Posted by Cdn Scrooge

Here is another article about the passing of the budget and this one is a little easier to read.....


Voices of Iraq: Parliament-Session-Update 1

BT10:04 PM -2007 -كتب: saleem في يوم الخميس, 08 فبراير,


Parliament-Session-Update 1
Parliament passes 2007 national budget
By Santa Michael
Baghdad, Feb 8, (VOI)- Iraq's Parliament approved on Thursday a ID 42,640,000 million (USD 32,200 million) FY 2007 budget.
The budget approval was delayed for almost two weeks for differences among major blocs over two issues, the financial appropriations for the three presidencies and allocations for Iraq's Kurdistan region's guards (peshmerga).
The parliament passed the 2007 budget in Thursday's session with majority after an agreement was reached to move five percent of the total financial appropriations to the parliament presidency office.
Earlier, the parliament speaker today's ordered a private session to give the defense minister, who was present at the session, a chance to answer lawmaker's enquiries openly.
Some legislators asked the Speaker to declare a private session so that the defense minister could answer all enquiries without harming any classified information that he might be mentioning during the session.
Speaker Dr. Mahmoud al-Mashhadani who chaired today's session ordered all journalists out of the parliament hall.
Thursday's session, the last before a month recess, was expected also to vote on the proposed 2007 national budget

Parliament-Session-Update 1 :: Aswat al Iraq :: Aswat al Iraq


The way I read this is that the budget is for 42 trillion, 640 billion NID (42,640,000 million) which is equal to 32.2 billion USD (32,200 million) so I don't see where there is a reval in this budget. 42.64 trillion NID = 32.2 billion USD. Therefore 1USD = 1324.3 NID (42,640,000,000,000 divided by 32,200,000,000). However, that being said the 1324.3 rate does not reflect the current rate of 1288 as per the CBI website. My feeling is that the budget was finalized last December when the rate was around that level and they are not worrying about adjusting it to pinpoint the actual values. That means that the budget will have to be re-calculated as the value of the dinar changes. At any rate I don't see the infamous "1260" or "1000" rates reflected here. Also interesting that the original estimate of the budget was 42 billion USD and now it's 32 billion. Looks like they did some trimming and coincidentally the 2006 budget was around 30 billion USD.

I see both good and bad in that. To me it means that the rate can be adjusted slowly or in one big adjustment. The budget will not dictate the rate. Actually, that is the way it should be as the CBI is the one that sets the rate and they are distinct and separate from parliament. Now the big question is when will the CBI adjust the rate and to what level. And for that I haven't been able to find a crystal ball that is clear enough. All the ones I have been able to find are clouded by a lot of smoke.

Well once again Iraq has me scratching my head. If you were reading this number aloud to yourself, you would say Forty Two million six hundred forty thousand. If you say it in trillions like you think it is Cdn Scrooge, you would say Forty two trillion six hundred forty Billion (not million). So once again I am left confused to what they are saying...my thoughts are they are talking about a $42 billion budget. Forty two billion six hundred forty million. JMO


Cheers!
DayDream

Originally Posted by Cdn Scrooge

They don't have to have the entire budget's worth of dinar on hand at the beginning of the year. The currency cycles all the time. The 2006 budget was around 30 billion USD and they managed that with the current level of dinars printed and in circulation. And we know that 14 denominations were printed but only 9 have ever been released into circulation. So even less that the posted totals of the money supply is actually what is being circulated daily.

Last year they were using dollars. This year they are using only dinars! Big difference, let the games begin.....................

FARM JIGGER!!!!!!!

GRAB YOUR PARTNER BY THE HAIR AND AROUND WE GO............

I've read that the budget has passed and now they can go vacation, but a previous article stated that they were to stay and finish all the laws (HCL) included. So, by this last article stating that they can leave it means one of two things, either the HCL is done or they are staying past the 10th to pass it or it will be passed by the 10th. Sound crazy? This weekend ought to be exciting!!! Maybe the 11th has some legs now, what ya think?

Originally Posted by DayDream

Well once again Iraq has me scratching my head. If you were reading this number aloud to yourself, you would say Forty Two million six hundred forty thousand. If you say it in trillions like you think it is Cdn Scrooge, you would say Forty two trillion six hundred forty Billion (not million). So once again I am left confused to what they are saying...my thoughts are they are talking about a $42 million budget. JMO

Cheers!
DayDream

Yes, it is their weird (to us north americans anyway) way of expressing numbers, but if you read it out loud it is 32 thousand two hundred million which is 32.2 billion and 42 million 640 thousand million which is 42.640 trillion. I would love to be wrong but I don't think I am. If both figures were supposed to be representing billions then the dinar one would have been stated as 42,640 million, not 42,640,000 million.

The simple fact that one number has 3 extra zeros says they are not that close to each other. At least not as close as they would be if one was 42.64 billion and the other was 32.2 billion.

Granted this is only my opinion and I could be wrong.