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Wealthwatch  OOTW & Butifldrm Chat 12-17-15

OOTW: HERE IS AN ARTICLE FROM BUTIFLDRM

OOTW: Economy and Investment parliamentary calls for the activation of the customs tariff and reduce the waste of hard currency December 17, 2015 Twitter Our economy / BaghdadHe stressed the economic and investment commission member of the parliamentary Almamori proof, on the necessity of activating the law of customs tariff, and reducing the waste of hard currency through import.

Said Mamouri, said in a statement the agency of our economy news received a copy of “falling world oil prices, the detection of the wrong policies that were followed by previous governments to rely on the export of oil to support the general budget, and not to use the surplus funds in the formation of a production base, whether industrial or agricultural “.

​He added that” the decline in oil prices led to a large deficit in the financing of the general budget, whether operating the mother of the investment, that causes us to immediately start finding alternatives and relying on Iraqi products service of goods, as well as Iraqi factories of cement, iron, steel and reduce import by activating laws customs tariff and the protection of the local product, which reduces the waste in hard currency, which drains in the importation of products manufactured locally.

‘ OOTW: “He noted the parliamentary economics member to” The committee worked through a whole year and great effort and was able to achieve the rate of investment, which included significant concessions to activate this important sector and this law privileges included industrial and agricultural sector and the production of consumer goods.’

“He called Almamori government to” Send a private investment law in refining crude oil for adoption Iraq is lost annually billions of dollars in import of oil derivatives, taking into consideration that the establishment of oil refineries to achieve significant revenue for the state as well to stop the import of oil derivatives.

“He called on the government to” reconsider its oil licensing rounds and that the bulk of the benefits of the oil customs go to manufacturers because of the high cost of a barrel produced by these companies with low oil prices, which makes the interest derived from the oil sector slim too, so you must reconsider these contracts in order to achieve the benefit of the Iraqi state. ”

OOTW: HERE IS SOME RESEARCH AND LEGAL INFORMATION

OOTW: Competition, trade and merger control 25 What government bodies have the authority to prevent or punish anticompetitive practices in connection with the extraction, transportation, refining or marketing of crude oil or crude oil products?

There are generally no government bodies regulating anti-competitive practices within the market. The oil and gas industry is operated by Iraqi NOCs. 28 Are there special requirements or limitations on the acquisition of oilrelated interests by foreign companies or individuals?

Foreign companies are generally freely able to invest in corporate interests which may be oil-related by incorporating an Iraqi legal entity or establish a branch office if they have a contract with a state entity (either directly or indirectly).

There are also specific requirements outlined in the Law of Private Investment in Crude Oil Refining (Law No. 64 of 2007), which was implemented by Instruction No. (1) of 2009, including:

• investor company may granted a lease of up to 40 years for land used for the refinery;

• Iraqi personnel shall comprise 75 per cent of the investor company’s workforce;

• investor company shall construct (at its own expense) a pipeline from the nearest appropriate delivery point;

• investor company is prohibited from trading in crude oil and the oil products; and

• products of the refinery shall comply with all environmental and industrial safety laws and regulations.

29 Do special rules apply to cross-border sales or deliveries of crude oil or crude oil products? Any sales (whether domestic or export) are made by SOMO, which is the only legal entity permitted to trade in oil under Iraqi law.

Due to this monopolisation of the export market of crude oil, there are no special rules that apply in this instance

OOTW: AND HERE IS A LINK TO THE OIL CRUDE REFINING LAW

OOTW: wealthwatch.world/showthr…
http://wealthwatch.world/showthread.php?tid=3324&pid=8128#pid8128

OOTW: SO YOU CAN SEE THAT IRAQ ALREADY HAS AN OIL REFINING LAW – SO IT IS UNCLEAR AS TO WHETHER THEY ARE STATING THAT THE EXISTING LAW NEEDS TO BE ENACTED OR THERE NEEDS TO BE REFINING TO THE REFINING LAW 😉

OOTW: AT THE VERY LEAST…THEY HAVE THE LAW TEXT THEY NEED TO WORK FROM

OOTW: AT THE MOST..THEY HAVE IT AND THEY SIMPLY NEED TO ENACT IT

Donnie: Parliamentary Finance: Presidency of the Republic to ratify the 2016 budget during the next few days

Donnie: BAGHDAD / Baghdadi News / .. announced the parliamentary finance committee member Masood Haider, Thursday, that the general budget for the 2016 law voted by parliament in its session yesterday, the President of the Republic will be approved in the next few days.

Haidar said to the reporter / Baghdadi News /, “The Presidency of the Republic to ratify the general budget for the 2016 law during the next few days, while ruled that the law remains without authentication President of the Republic until the end of the 15 day period prescribed by the Constitution.”

“The right of some of the blocks that have objections to the budget bill after voting attic recourse to the Federal Court,” describing “those objections political bidding.” It is said that the Council of Representatives voted 45 Minutes, which held on Wednesday on the state budget for the year ended 2016. Law 21 / g

Donnie: albaghdadianews.com/polit…    LINK

chattels: Joel Wing ‏@JoelWing2 58m58 minutes ago 70% of Ramadi said to be cleared
chattels: ” There are still weeks more of fighting until it is liberated, but the end is definitely in sight.” musingsoniraq.blogspot.co…
http://musingsoniraq.blogspot.com/2015/12/security-in-iraq-dec-8-14-2015.html

chattels: wealthwatch.world/showthr… http://wealthwatch.world/showthread.php?tid=3355

RVPlease: Iraq finally seems to be coming around…. Thank GOD…

bobrv: IRAQ 2016 BUDGET OVERVIEW…..$80 BILLION DOLLARS…DEFICIT $22 BILLION DOLLARS (22.8% OF BUDGET)…$45/BARREL OIL @ 3.6MBPD….250,00OBPD KURDS…300,000BPD KIRKUK PROVINCE….

TOTAL 2016 EXPENDITURES $102 BILLION DOLLARS….

TOTAL 2016 REVENUES $80 BILLION DOLLARS….

(THE REMAINING PLUGGED WITH INTERNAL/EXTERNAL LOANS AND TREASURY BONDS WORTH $12 BILLION DOLLARS)….

OIL REVENUES $66 BILLION DOLLARS (REPRESENTING 85.1% OF TOTAL REVENUES)…

WITH NON OIL REVENUES $10 BILLION DOLLARS (REPRESENTING 13.6% OF TOTAL REVENUES)…..

ONGOING OPERATIONAL EXPENSES AND SALARIES OF $78 BILLION DOLLARS (UP 76%)…

WITH CAPITAL EXPENDITURES AT $22 BILLION DOLLARS (UP 23.8%)….

17% KURD ALLOCATION ($17B…SORRY NOURI!!!)…AND HALF BILLION FOR DISPLACED….

AND 1 OF THE MOST IMPORTANT UNDER THE RADAR VOTES IN BUDGET WAS TO INCLUDE PESHMERGA IN FEDERAL SYSTEM AND GIVEN PERCENTAGE OF GROUND FORCES COMMAND BUDGET…ALONG WITH NEWS OF VOTE TO ADOPT FORMER OIL AGREEMENT

bobrv: BUDGET WAS TO INCLUDE PESHMERGA IN FEDERAL SYSTEM AND GIVEN PERCENTAGE OF GROUND FORCES COMMAND BUDGET…ALONG WITH NEWS OF VOTE TO ADOPT FORMER OIL AGREEMENT BETWEEN ERBIL & BAGHDAD…TOTAL 16

bobrv: TOTAL 16 BUDGET ARTICLES…..

chattels: ” 1 OF THE MOST IMPORTANT UNDER THE RADAR VOTES IN BUDGET WAS TO INCLUDE PESHMERGA IN FEDERAL SYSTEM AND GIVEN PERCENTAGE OF GROUND FORCES COMMAND BUDGET ” ??????????????????

chattels: Anyone seen an article supporting the foregoing about the Peshmarga funding ?
chattels: I have yet to see a English translation of the budget
chattels: ” under the radar vote(s) ” sounds like a guru statement

OOTW: THIS IS THE MOST RECENT ARTICLE I FOUND CHATTELS

OOTW: Peshmerga budget allocation from the province of Kurdistan staff salaries Before I Rvvdav 14/12/2015 Rapporteur of the Parliamentary Finance Committee Haji Ahmed Rashid Rapporteur of the Parliamentary Finance Committee Haji Ahmed Rashid Roudao –

Arbil ratified the Finance Committee in the Iraqi parliament, the share of the Kurdistan Region of financial budget of the country amounting to 17%, will be allocated budget that the Peshmerga deduct 3% of the Kurdistan Regional staff salaries.

The decision of the Parliamentary Finance Committee, Ahmed Haji Rashid, network Roudao media, “The share of the Kurdistan region remains unchanged at 17%, without reduced.” He said, Rachid,

“We decided through law determine the share of the Peshmerga, through the deduction of 3% of the Kurdistan Regional staff salaries.” has not been in a draft financial budget for the 2016 law, customize any specific sums of money to the Peshmerga forces, but the passage of this legal provision,

it will be allocated 25 billion dinars for the forces Peshmerga Kurdistan region. In spite of the approval of the share of the province of Kurdistan in the project 2016 budget, many of the items and materials,

but it will be a dead letter, what Kurdistan Regional Government has not committed to sending 550 000 barrels of oil per day for the benefit of the Iraqi oil marketing company SOMO.

OOTW: THE ONLY PDF RELEASES OF THE BUDGE I HAVE FOUND ARE STILL/YET ENCRYPTED

OOTW: I HAVE THE DRAFT BUDGET LAW FROM EARLY DECEMBER
OOTW: BUT IT’S GONE THROUGH MANY AMENDMENTS SINCE

chattels: “We decided through law determine the share of the Peshmerga, through the deduction of 3% of the Kurdistan Regional staff salaries.”

chattels: Reads as though the Peshmarga will be compensated out of Kurdistan Regional Staff salaries and not additional funding.

OOTW: yes

OOTW: HERE’S MORE   OOTW: Iraqi parliament approve 2016 budget December 17, 2015 in the versions of the center comments on the Iraqi House to approve the budget in 2016 closed 36ipj9 In the midst of the difficult circumstances experienced by Iraq today, the Iraqi Council of Representatives voted by majority on the decision to draft the country’s budget law for 2016, where it was to retain the previous taxes increased again, in addition to the deductions were not present in the past.

It was a vote on the project by a majority of 167 of its members Total number of attendees of the meeting and the vote today’s 240 deputies (out of 328 members) on the draft federal budget for 2016 amounting to 105 trillion dinars and 800 billion dinars.

And deducted the budget 3% of employees in government departments and retirees who are over their salaries to 500 000 dinars to be distributed among the popular crowd forces by 60% of the amounts withheld to the rest given to the displaced, either in connection with the Kurdistan Regional staff will be amounts deducted for themselves and give to the forces’ salaries Peshmerga.

We came new budget burdened helplessness similar to the previous one, which is a crucial juncture for Iraq, which weary of the financial crisis experienced by the collapse of oil prices since the year and a half almost, not to mention the consequences of war on the state regulation “Daash.

” The new budget details of the value of the budget approved by the government last October 105.8 trillion dinars, or about $ 95 billion, and a projected deficit of around 24 trillion dinars, the equivalent of about $ 20.5 billion. And built the budget figures based on price

My guess for a barrel of oil at $ 45, and the export amount of 3.6 million barrels per day of crude from within oil exported by the province of Kurdistan. It was the inclusion of items oil deal between Baghdad and the Kurdistan Region within budget items, although the region is gradually draws since June past to independently sell its oil from Baghdad down to the non-deliver

OOTW: And built the budget figures based on price My guess for a barrel of oil at $ 45, and the export amount of 3.6 million barrels per day of crude from within oil exported by the province of Kurdistan. It was the inclusion of items oil deal between Baghdad and the Kurdistan Region within budget items, although the region is gradually draws since June past to independently sell its oil from Baghdad down to the non-delivery of any quantity of Baghdad two months ago.

Under the agreement late last year to hand over the province 550 000 barrels of oil per day to the federal government in exchange for receiving a share of the budget.

The distribution expenses as follows: – total expenditures came by (105895722619) thousand dinars – total investment expenditure (25746311538) thousand dinars – total current expenditure (80149411081) thousand dinars – the deficit of the budget of the Federal 2016 amounted to about (241 941 919 481) thousand dinars has been schedule this mechanism to cover the deficit inclusion on schedule Next :

OOTW: Table from the website of the House of Representatives. It was the inclusion of the terms of an oil agreement between Baghdad and the Kurdistan Region within budget items, although the region is gradually trend since last June to independently sell its oil from Baghdad down to the non-delivery of any quantity of Baghdad two months ago.

Under the agreement late last year to hand over the province 550 000 barrels of oil a day to the federal government in exchange for receiving a share of the budget.

As is known, the Iraq depends on the sale of oil revenues to cover about 95% of the country’s expenses, and collapsed prices since last year of about $ 115 per barrel to less than $ 40.

Also, this the second year in a row in which the Iraqi parliament succeed by passing the draft budget before the start of the new year after it was it takes long months of discussions in the past years.

But the biggest challenge is the lack of financial resources of Iraq, which was confirmed by Iraqi Prime Minister Haider al-Abadi that Iraq’s financial resources decreased by 60%, and that the great challenge facing the government is to reduce the budget deficit for next year.

It is said that the Iraqi Council of Ministers approved, in (18 October 2015), the financial budget for the coming year 2016, B113 trillion Iraqi dinars and a deficit of 30 trillion dinars.

and still oil prices is witnessing a sharp decline due to the abundance of global supply, in addition to the recent decision of OPEC to keep output ceiling, which is Maather on the Iraqi oil sector, liver significant losses due to the low selling price,

this as well as internal reasons that inherited the current government from its predecessor, the war with the organization of the State “Daash”, is expected to continue to decline in oil prices, which could affect the Iraqi economy, has been increasing the financial burdens over the next year. Amer Omran

chattels: ” In spite of the approval of the share of the province of Kurdistan in the project 2016 budget, many of the items and materials, but it will be a dead letter, what Kurdistan Regional Government has not committed to sending 550 000 barrels of oil per day for the benefit of the Iraqi oil marketing company SOMO.”

chattels: ” ……….. it will be a dead letter, …………. ”

chattels: Means to me that the Kurds will not accept or implement ” as is “, but ………………..

OOTW: YES

OOTW: HAVE YOU SEEN THIS SITE? WOW : independencenews.net/ar/%… LINK

chattels: No.

OOTW: WELL, TAKE A GANDER   IT’S FULL ON    OOTW: LOL

 

OOTW: UN Security Council passes a new resolution against the Islamic state funding December 17, 2015 22:57 by: Agency independence editor Category: senior, News Economy, urgent Leave A Comment A + / A- Adopted the finance ministers in the 15-nation UN Security Council on Thursday unanimously a decision to disable the financial flow for the organization of the Islamic state.

The text of the draft resolution asks Member States to move decisively to cut funding for other organization and including oil and trade of artifacts, and the imposition of sanctions on entities that provide financial support to the organization, the largest packages possible economic resources.
~~~

The Secretary-General of the United Nations Ban Ki-moon in a speech ahead of the vote that took advantage of charitable causes for donations. He added that the militant groups exploit loopholes in the law, to the detriment of the world, stressing the need to prevent him and other access to financial resources.

OOTW: And directed that the thanks of the United States “to hold this historic meeting of finance ministers,” and paid tribute to the efforts of the fight against terrorism.

He explained that the Security Council resolution that expresses the international community management in the fight against terrorism, adding that collects money through forex trading and cash transfers, and ransoms and human trafficking, extortion and looting, and the destruction of the human inheritance.

He proposed an increase in international cooperation and sharing of information and experience, especially in the issue of effects. He pointed out that the expansion of the United Nations program in the fight against terrorist financing, with work intensively with the charitable sector to learn of suspicious transactions.

In the same vein, US Treasury Secretary Jacob Liu said that the organization has terrorized the people of Iraq and Syria, adding that he had been working with the United Nations and other organizations to undermine the organization and terrorist groups.

OOTW: He pointed out that part of the US strategy to eliminate depends on his gunmen to stop operations economically, financially and isolate them. He added that Washington used the legal and financial tools to cut off funding for a large number of Alarharbih organizations, stressing continue to do so.

OOTW: BACK TO PESHMERGA

chattels: This is the first time in which the vote on the budget Guibl end of the year since the US invasion in 2003 independencenews.net/ar/4… http://independencenews.net/ar/44117.html

OOTW: HERE IS AN ARTICLE FROM LAST MONTH INDICATING THE ALLOCATIONS FOR THE PESHMERGA

OOTW: YES I SAW THAT…AMAZING

OOTW: 2015/11/26 09:05 The allocation of 400 billion dinars for the Peshmerga budget 2016 BAGHDAD / Obelisk: A member of the Finance Committee in Parliament MP Masood Haider, Thursday, for the allocation of 400 billion dinars for the Peshmerga forces within the budget for fiscal 2016, saying it “unfair” the right of the Peshmerga.

Haider said in an interview with the local media and I followed, “obelisk”, “The draft financial budget law for 2016 included the allocation of approximately 30 billion Iraqi dinars a month for the Peshmerga forces,” explaining that “the total allocation of forces during 2016 of 400 billion dinars.”

He added, that “this prejudice the right of the Peshmerga forces, because they need more than money to continue to defeat the Daash gangs,” noting that “Peshmerga forces have given more than 2,000 martyrs, of whom were killed during joint operations with the Iraqi army and popular mobilization against Daash”.

You are in the original site, formally and legally registered, not the fake site to Saad Awsi, backed by Iraqi funds stolen by Khamis dagger and family Karabilah.

The Council of Ministers approved, on the first Tuesday (November 24, 2015), to amend the draft budget law for 2016, sent to the House of Representatives. The House of Representatives has ended, in (November 2015 17), the second reading of the draft budget for fiscal 2016 Act.

OOTW: AND IT SEEMS A FEW KURDISH NEWSPAPERS HAVE PICKED UP THE STORY ABOUT CRUZ AND RUBIO DEFENDING THE PESHMERGA

OOTW: Obama’s Republican candidates must arming the Peshmerga www.kdp.info/a/d.aspx

chattels: I think that Parliament MP Masood Haider is a Kurd. Not sure.

OOTW: YES I DO NOT KNOW
OOTW: LOOK AT THIS…GOTTA LOVE ISSAWI

OOTW: Issawi calls for the inclusion of the popular crowd on “terrorism” list Before I Rvvdav 16 hours ago Issawi Issawi Roudao – Arbil called Iraqi Finance Minister former Issawi, the armed Islamist Alliance for the inclusion of the popular crowd troops on the terrorism list.

He spoke Issawi in a television interview that “the Iraqi state is completely under the control of armed militias actress troop popular crowd.”

He called for the popular crowd inclusion on the List of terrorism, calling the military Islamist alliance led by Saudi Arabia to take the role combating the role of the militias operating in Iraq along the lines of Daash. also reported that “the Iraqi prime minister is unable to curb the role of the popular crowd, which is pursuing the practices of murder, kidnapping, terrorizing people, especially in predominantly cities Sunni. ”

declared Saudi Arabia, last Tuesday, the formation of an Islamic military alliance of 34 countries to fight terrorism, he said Prince Mohammed bin Salman Crown Saudi crown prince and defense minister, the new alliance is not aimed at regulating only “Islamic state” Daash, but will fight the phenomenon in different regions of the Islamic world.

People crowd forces in Iraq and play a significant military role alongside Iraqi forces in fighting organization Daash. The crowd forces was formed last summer after a call for volunteer reference religious Shiite fighters within the ranks of the armed forces backed by the Iraqi government.

OOTW: YES HE IS A KURDISH LAWMAKER

OOTW: Masoud Haider, a Kurdish lawmaker,
OOTW: www.wsj.com/articles/iraq…
http://www.wsj.com/articles/iraq-cabinet-approves-sweeping-reforms-to-political-system-1439133137

Butifldrm: It appears FINALLY the US is going to arm the KURDS

chattels: It appears that the 3% deduction from employees in Iraq and Kurdistan is the means of funding both Peshmarga and the Hash’d militias and also providing for the displaced.

Butifldrm: ok cause have a lot to do

chattels: www.almadapaper.net/ar/ne…  LINK

Butifldrm: ‹@chattels› Iraq is under the IMF’s thumb

Butifldrm: They are in control now

chattels: Arguably a ” war tax ” by withholding

Butifldrm: the war on ISIS is the goal

OOTW: YES
OOTW: I WILL POST THIS CHATTELS
OOTW: TY

Butifldrm: yea, … as i said the IMF…they are all about THE TAX’

chattels: ‹@Butifldrm› What is the import of meaning of IMF control do you think ?

Butifldrm: Truly.. Iraq is playing the IMF game Butifldrm: Now they will have to submit
Butifldrm: Well, truly I’m not a fan of the IMF Butifldrm: but yet Iraq has chosen to play their game

Butifldrm: If they had chosen to play the IMF game under Maliki’s reign we might have been sittin in High Cotton today.

OOTW: HERE IS THE LINK TO YOUR GREAT FIND CHATTELS

OOTW: wealthwatch.world/showthr…
http://wealthwatch.world/showthread.php?tid=2814&pid=8131#pid8131

Butifldrm: Instead, the corruption and lack of diversifying their economy has led them to the situation they now are in

chattels: ‹@OOTW› ty
OOTW: SURE THING

Butifldrm: No one even the smartest in the World saw oil prices going below 40 dollars a barrel. This has been a ame changer for all emergin economies

Butifldrm: sad but true, it appears the price of oil will still at record lows for a number of years

Butifldrm: this will effect the oil producing emerging economies tremendously

OOTW: TY BUTI

OOTW: I WAS AT THE NOC SITE TODAY AND IT SHOWED OIL AT 32$ PER BARREL

Butifldrm: ‹@OOTW› yes

OOTW: HERE IS A SECTION FROM THE INFORMATIVE ARTICLE CHATTELS FOUND

OOTW: Confirms Najib” The amendments include the deduction of 3% of all state employees totaling in all state institutions nearly 4 million employees. “It is noteworthy that the Council Ministers approved, last October the middle, on the recommendations of the reform of the employees’ salaries system.

confirm Kurdish MP that “the share of the Kurdistan region of 17% remains as it is and will not are unchanged.”

Furthermore, Najib said at a press conference that “there are some deputies of the mass of the State Law collected the signatures submitted in the form of a proposal to the Presidency of the Council of Representatives and the Finance Committee in Parliament include the reduction of the Kurdistan region proportion of the general budget from 17% to 13%,

“indicating that” the budget bill was prepared by the Council of Ministers and not Parliament and intercept some lawmakers to balance the region is unacceptable and is unconstitutional.

“She said a member of the Kurdistan Democratic bloc to” increase or reduce the percentage of the Kurdistan region associated with conducting the general census, “asking the government to” increase the region percentage of the budget and not think about the reduced because there are large numbers of displaced people in the cities of the Kurdistan region.

Butifldrm: As the oil price falls and the Fed increasing interest rate we are going to see some Tumultuous Times

Butifldrm: It’s not jsut Iraq…We need to keep our eyes on the Big Picture ….Argentine Peso Collapses 29% After Government Lifts Currency Controls

Butifldrm: www.zerohedge.com/news/20…

http://www.zerohedge.com/news/2015-12-17/argentine-peso-collapses-29-after-government-lifts-currency-controls

chattels: With the war on DAESH, reconstruction costs, corruption and very low oil prices, I just do not know how ” valuable ” the IQD is or will be in the near(er) term ?

OOTW: WE SHALL SEE CHATTELS….EVENTUALLY

OOTW: 2015/12/17 09:34 Move within OPEC in order to stabilize oil prices BAGHDAD / obelisk said Algerian Energy Minister Salah al-Khairi, Wednesday, Algeria will continue to work to reach a consensus within OPEC in order to stabilize oil prices.

Was quoted by APS as saying charity after a meeting with Iranian Deputy Oil Minister in the Algerian capital, the two countries share the “same position” to defend the interests of Petroleum Exporting Countries. But he said OPEC “ignore” the collective interests of its Member States. He added charity: “We will continue to work to try to reach a consensus within OPEC to stabilize oil prices.”

He continued: “This organization (OPEC) was set up to defend the individual and collective interests of Member States, but it is unfortunate that this collective incision was ignored.”

Butifldrm: ‹@chattels› the good news is that the CBI has not devalue the dinar but a24 Dinars

chattels: Shabbibi never mentioned the price of oil directly that I know of, but certainly it’s price affects financial stability.

OOTW: WOW ON THE PESO BUTI

chattels: One has to wonder what the value of the IQD would be without the government support(s) / controls ?

Butifldrm: ‹@chattels› I have looked for the articles, but Shabbi made a statement back in the Day that Iraq should now worry about the price of oil. that they could just pump more pil to make up for the deficit. well in today’s world that is not working because all oil producing economies are doing the same while driving down the price of oil

Butifldrm: ‹@OOTW› yea, IMO Iraq is holding stron under these conditions

Butifldrm: The Fed rate Hike is going to affect all emerging economies

Butifldrm: Mexico’s Central Bank Steps In as Peso Tumbles on Fed Rate Bets

chattels: There is so much, too much, that I do not know about currency and economics. Maybe I / we will get lucky 🙂

Butifldrm: www.bloomberg.com/news/ar…

http://www.bloomberg.com/news/articles/2015-12-07/mexico-s-central-bank-steps-in-as-peso-tumbles-amid-fed-hopes

Butifldrm: ‹@chattels› It’s a race to the bottom Iraq is holding strong, especially under the pressure they have going on

Butifldrm: Here’s what I am worried about

chattels: Maybe one of the dinar guru pundits will be right, but their track record is not good. Good fortune, magic or a miracle may indeed be in order.

Butifldrm: Iraq is accepting these loans from the IMF/World bank…and so did Greece

Butifldrm: The budget is an Austerity budget
Butifldrm: Austerity does not provide for liquidity nor  growth
Butifldrm: it stiffles an economy

Butifldrm: l,the more money they borrow the worse the economy will grow

chattels: One article stated that salaries alone ” eat up ” 80 % of the current revenues in Iraq, as I recall.

Butifldrm: I am afraid the conditions of the World economy is not conducive for true growth in even the most honest free market economies

chattels: Add debt service and there is already no money for investment.

Butifldrm: ‹@chattels› yes, 80% of the employed in Iraq are employed by the government

chattels: or infrastructure / development

Butifldrm: yep

chattels: What industry can operate with electricity available only 1/2 of the day ?

Butifldrm: absolutely
Butifldrm: Iraq has a B- credit rating.. this in investment terms would be considered junk bonds

chattels: The world may indeed need a economic reset 🙂

OOTW: 🙂

Butifldrm: Because they are having a problem with investment in these bonds, they must turn to the IMF for help

Butifldrm: ‹@chattels› absolutely, we can only pray for that

Butifldrm: May God watch over us and protect us when that happens

OOTW: AMEN

Butifldrm: Ok luv yall I need to get a few things done tonight OOTW call me

chattels: ‹@Butifldrm› gn
OOTW: GN HON  OOTW: OK

chattels: Abbas al-Bayati: collecting signatures to reconsider paragraph deduction of 3% of the salaries of employees and retirees 12/16/2015 15:08 BAGHDAD / National Iraqi News Agency / nina / MP for the coalition of state law, Abbas al-Bayati, for the collection of signatures to reconsider the paragraph relating to deduct 3% of employees and retirees’ salaries.  chattels: wealthwatch.world/showthr…

http://wealthwatch.world/showthread.php?tid=2814&pid=8135#pid813568

chattels: Abbas al-Bayati is State of Law Coalition and a ” Maliki man ”

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