Thread: Iraq/Dinar News until 5PM CST May 10,2007

President optimist in conference

Baghdad, 08 May 2007 (Al-Sabaah)

Oil ministry mentioned recently that, the weekly oil revenues exported to the international markets through the few last period more than $ 550 M, as the oil exports low towards the American and the European markets and increased towards the Asian markets at that period, while oil ministry emphasized on parliament ratifying on gas and oil law as it would considers as a real first starting to raise up the oil manufacturing industry in the state.

An author sized source at oil ministry said that, the incensement of the international oil price reflected positively on the Iraqi oil revenues, and that increase would participate in improving state economic as the budget of the state depends mainly on the oil exports.

Originally Posted by DayDream

I can't figure out what this article is saying but, dang I think its saying something! Its mostly about the 2007 Budget and the value of the dinar. Can anyone make heads or tails out of it? I know the last paragraph is talking about the Marshall Plan for Germany! I'll just post the link as this is a long article for those interested.

What do you know about illusion, deception cash?

ÌÑíÏÉ ÇáÕÈÇÍ - ÅÝÜÜÜÜÜÜÜÜÑÇÒÇÊ ÇáÊÜÜÖÎÜÜÜÜÜÜÜÜã ÊÄÓÓ ÚÞÈÇÊ ßÈíÑÉ Ýí ØÜÜÜÜÜÜÜÑíÜÜÜÞ ÇáäãÜÜÜÜÜÜÜÜ

Cheers!
DayDream

Do you want the translation of the entire article?

It's four pages long...

Originally Posted by Seaview

Do you want the translation of the entire article?

It's four pages long...

Yes Please!

Originally Posted by Seaview

Do you want the translation of the entire article?

It's four pages long...

The link I provided was already translated into English (don't know why its not now)....and its still greek to me. I just want to know what they are getting at.

Cheers!
DayDream

Just the good bits.

Steve

What do you know about illusion, deception cash?

Investigation - fragrance Fadel
Since the mid-1980s of the last century witnessed an economic phenomenon Iraq significantly affected the economic situation in the country was the deception caused by the monetary inflation caused by the malfunctioning of monetary policy over the years. What does the phenomenon of delusion or deception cash? Is it a case existed in the world economies? What impacts the general budget of the country and the reconstruction projects, infrastructure .. These and other questions we put to a number of experts and scholars to shed further light on this issue .
.Says economic researcher Dr Maithem to Aibi Ismail :

- Money illusionCash-delusion or deception cash is a translation of the English term Money illusion, and this term due to the Keynesian era that laid the economic foundation bases famous John Mainerd Keynes and opened his famous (the general theory of employment, interest and money), which emerged in 1936 a reflection of genuine crisis of the Great Depression in 1929 - 1932. The phenomenon of delusion cash linked to the base subject to distinguish between real wages and pay cash, the cash wages they intended amount of money received by workers for their action, but real wages it means the quantity of goods and services that workers can obtain it by purchasing them or paid cash, that the main reason that widened the gap among the variables is the rise in the general level of prices, or what is known as inflation, since the price increase inevitably lead to a decline in the purchasing power of currency units received by individuals, and this means that if an individual gets a particular and managed to obtain a certain quantity of goods and services that pay it is after a period of time and with higher general price level, will get the least amount of goods and services the same pay previously.

* Q : A comparison between the 1958 budget and 2007 budget show that the average per capita share of current expenditure in 1958 amounted to 49 dollars, which is larger than the average per capita expenditure for the 2007, which amounted to 47 dollars, the credibility of this matter?.
- The application of the phenomenon of delusion on the subject of monetary budget and compare those with respect to current expenditures in 1958 and current expenditures for 2007 is a gesture worthy of respect, but the researcher must not overlook the neutral range of substantive considerations that led to the outcome of the researcher, has been briefed on the article referring to that comparison, which restricts the subject because one is told James Baker to be in his meeting with Tariq Aziz, on the return of Iraq to the pre-industrialization, which is linked to the conspiracy theory, which we feel were not always accurate, in the sense that we believe that there are no plans to seek the Western world in the application the region but we refuse to be thinking through that theory, and we believe that neutral and a researcher who wants to reach accurate conclusions must be studying the subject in depth and analyzed in the light of the time series full, not partial and takes being broken by comparison, if we want neutrality, we must examine the period from 1958 to 2003, this long period bury beneath many of the economic and social factors, political, which led to the deterioration of many indicators such as low per capita income and the deterioration of living standards and health to dangerous levels, as well as a sharp decline of the values of science and knowledge and the rise of material values This is in addition to many the repercussions can not be listed.
We say that there were many reasons that led to those results, governance regimes, which rolled on Iraq during those periods - except for limited periods, such as property and Qasimiyah-marked disregard for the content of the humanitarian community, and focus on strengthening and consolidating its Central and ensure its sustainability, we believe that the outcome of up to the writer but seems to be true alone, but we differ in their causes. The indicator used by the writer which is the average per capita spending of this is not an indicator developmentally itself, and the rise of the index does not necessarily mean that the standard of living of personnel has improved, he shows us consumer spending to the individual from the general budget only, While States seeks to permanently increase their investment spending, and the comparison does not indicate that the standard of living of personnel has decreased, the most widely accepted indicator in the economic literature is the average per capita income (or gross) national, which means the quantity of goods and services obtained by per capita during the period of time is usually one year, which can be accessed through the apportionment of real national income for a given year population for the same year, the index remains necessary indicators to determine when it is not sufficient in itself but must be strengthened, inter indicators of economic, social and even political.

* Q : So what are the reasons for the phenomenon witnessed by the illusion cash budget in the Iraqi economy?
- That Iraq has witnessed a series of increases in the general level of prices as the price index grew more than 67% for this year and this contributed result in increased maintenance No. ostensibly year, and left saying that there are invited to the spread of this inflationary wave in the Iraqi economy, however, one of the most important is the theme of support for the lifting of oil derivatives prices after 2003 and led to a series of rises in prices, which crept into all joints economy, and it is also to raise support came within the prescription by the International Monetary Fund of the Iraqi economy patient, but for fairness, we must remember that inflation is one of the phenomena that has been growing in the body of the Iraqi economy patient before this date, the phenomenon of inflation reaching catastrophic levels in the years of economic blockade, hitting summits since 1995 arrived price index to more than 69000%, which led to the erosion of the real values of most economic variables, it the growth rate of real GDP level of a negative (-1.4) in 1995 and this led to a decline in real income levels for individuals to the borders negative Taking individuals to resort to their savings Yugoslavia, and became a natural mother to see the Iraqi sells jewelery to meet consumer needs, as has become commonplace to sell family furniture and other cases demonstrate the decline in average per capita income levels of less than one dollar parts far from here we can say that there are levels experienced by the Iraqi per capita income is lower level can not be compared with 1958 or 2007 or any period reader wants.

* Q : Is the state really seeking to reduce consumer spending and increased investment spending?
- States on the way to achieving economic and social development which seeks to reverse reached writer, country, which wants to build a real development aims to increase investment spending and reduce the current expenditure as a proportion of public expenditure, which is common in the general budget for 2007, as compared with 2006 budget we find that the operating expenses for 2006 amounted to (41.691) trillion dinars compared with operating expenses in 2007 Moisemeh hitting (39.062) trillion dinars, or less than the previous year's budget by (-6.3%), the reduction was due to the policy orientation of state spending to reduce operating expenses and increase investment expenditure, which amounted estimates investment expenditure of approximately 2006 (9.272) trillion dinars of the total expenditure compared with estimates of the total in 2007, which amounted to (12.665) trillion dinars, achieving growth rate of (36.6), where the proportion of investment spending (24%) of the overall spending, from here we say that the policy which aims to increase investment spending The reduction in consumer spending is a deliberate and informed by the State did not Writer new.

* Q : What is your view on the real volume estimates for the reconstruction of infrastructure in Iraq .. Where some people think that there is a great difference between the real value of these estimates, and what put the donor countries to build those points .. Does this fall under the deception of cash face?
First-hand, that the donor countries have pledged to build all these structures to the Iraqis but that the idea was to help and to contribute with the Iraqis in building not expect that the donor countries are building all these rot, and those funds which intend to those presented is a spark from the start that hoped to be the catalyst for the process of continuous development.On the other hand, we do not feel there are critical in this regard estimates cited by the writer estimated by 140 billion dollars is not far removed from the estimates of international experts, numbers revolve around this figure, in spite of the reservations we personally to mention any estimates because the issue is bigger and more important than just estimates as we believe that the reconstruction process is a cumulative process, continuous and dynamic, non-stationary Therefore, the logic does not dictate makes any estimate, but that is subject to economic planning and laying the foundations of strategic objectives for the process of economic and social development, either in the third and the secretariat say that the infrastructure he is talking about the writer did not destroy the unity of the occupation, but many of those structures remain without destruction, that the Iraqis - and perhaps non-Iraqis might have contributed to the destruction of some, through looting and destruction during the fall of the previous regime, and on the fourth hand, there again instance trying to tamper those cornerstones is hands-terrorism scare that wreaked havoc in many of those cornerstones, which is trying repeatedly rebuilt and finally we have to say, in the same regard that those underpinnings are not subjected to any maintenance during the period after 1985 and 2003, which means that Iraq's infrastructure had reached 2003 and semi - Samra, and with it a loss of decay almost worthless. ًTremors are real and not deceitfully
His gold dean of the Faculty of Administration and Economics at the University of Karbala Governor Prof. Dr. Muhsin Muhammad that the country's monetary deceitfully not as much as it is a result of economic shocks real .. يقول:Wrote :
- I do not think it is the case that the designation of the Iraqi economy, deceitfully cash, as a result of active deception occurs, either the current situation in which our economy is suffering from the secretions of tremors that have struck the country during the time period since 1980 and the start of the war between Iraq and Iran, then enter the Iraqi army Kuwait and the war planned by the United States and then imposed comprehensive sanctions on Iraq on behalf of the United Nations, despite the objections of many members of the Security Council since the siege only serves the interests of the United States of America and this does not require a license or authorization from a Proof of this occupation for Afghanistan, Iraq and the war on Yugoslavia .. etc.. The tragedy of the Iraqis caused the United States and Britain because they had a bigger role in what happened to the Iraqis and therefore high rates of inflation and high rates unexpectedly reversed its effects on the Iraqi economy, worsened the country's currency, which brought the case to what it is and become prices and large figures and illogical, but is the case prevailing for the reasons stated.

Between nominal and real

Under this theme puts Associate Dean of the Faculty of Administration and Economics at the University of Karbala, Dr Mohammad Ali Hamid differences between what is real and what is the highest for the expression of commodity prices and wages .. Wrote :
That the price of the nominal value of the good is measured in monetary terms, the real price is nominal price after taking into account inflation rates, as well as for wages, and the real price is described as the price fixed after the adoption of a given year called the base year, with identical prices, nominal and real salaries in the base year. Expanding the difference between nominal and real rates higher inflation, as well as the length of time between the prior and subsequent to the base year. Certainly, the real price (or salary) honest, and much more accurate than nominal. For example, the nominal price of the official barrel of crude oil in 2005, 50.6 dollars, and this is the highest price since the start of trade in oil, the real price (in 1995 prices) stood at 43.3 per year, and this price is much lower than the prices already arrived and the price of oil, which hit in 1980 about 67.2 dollars, this is the highest level of transmitting real price of oil until 2005, the nominal price in 1980 was 36 dollars, with a brief price or salary for not showing the whole truth, this is how it should be understood deception cash. In countries that suffer from problems of inflation notes often called politicians, especially in Hnnellatham electoral promises to improve the living conditions of their constituents, if elected them of course, and only those having Eterbawa on their thrones comfortable raising the nominal salary rates below the level of inflation at best, which is not significantly improve the levels of life people, but Ihajjawa voters that they have fulfilled the promises they made. Raising the salary level below the high prices is not only laughable but deception.
An imbalance in the goods and services market
The process of ignoring the views of economists politicians but it is the result of the problematic nature of the relationship between political power and non-governmental institutions across the march of the developing countries in the second half of the last century. Thus began economic expert Abdul Hadi his behalf in this matter pointing out that despite the significant improvement experienced by those States particularly in the last decade as well as the importance of enlightenment opinion spe******ts in the various areas but that does not necessarily mean that all views will be introduced to accept political power and because of the realistic on this subject from the point of sometimes contradictory views of the professionals on the same subject on the other hand.

* Q : How do you explain the term cash deception?
Deception-term cash rolling in the current economic literature, goes back to his appearance in what is known specifically Alkenzieh era in the 1930s when the Keynesian interest of workers and remunerating nominal attempt adjournment without looking at real wages, which vary by price and not necessarily improved with the improvement of nominal wages. The phenomenon of inflation is not necessarily due to monetary reasons any increase in the monetary supply too many reasons arising from the imbalance in the real sector of any goods and services market.
* Q : Is located in global economies?
The phenomenon of devaluation barely exists in almost every country in the world and therefore usually resort to economists estimating the value of gross domestic product has remained relatively stable foreign currency as well as local currency calculated according to certain mechanism attributed to the price for the base year excluding fluctuations in prices On the basis of that is the distinction between real GDP and nominal gross domestic only thing that differs from one country to another is the rate of inflation and thus rate of devaluation and this is certainly related to political and economic conditions experienced by each State.
* Q : What is the cost of rebuilding the infrastructure in Iraq? And how do the cash by deception?
Despite the difficulty of estimating the cost of rebuilding infrastructure in Iraq, but most estimates approaching hundred and fifty billion dollars, I do not think that the problem we face regarding the devaluation of the currency as it relates to the issue of administrative and financial corruption and its impact on the reconstruction process in terms of time and quality either illusion theme mentioned by the writer cash in the process of international funding for reconstruction is the process of helping Iraq to emerge from the current crisis any assistance in the event of the first turn of the wheel of development and I do not think that the topic is Iraq compensation for the value of all infrastructure constructed a quarter of a century or more and lost a large proportion of the economic value before 2003 because of lack of regular maintenance.
* Q : What is the validity of the figures contained in the budget for 1958?
We have no accurate information on the 1958 budget, but I think that the comparison between balancing the budget in 2007 and 1958, non-viable economic, political and better for us to focus on the doors of exchange, which included the current budget Is it appropriate to address the current problems suffered by the Iraqi economy.
As is the decline in the per capita share is a natural thing, especially under the circumstances that prevailed in Iraq and its impact on the value of the Iraqi dinar in relation to foreign currencies.
* Q : Is there evidence to throw light on the larger question of deception cash?
As I stated previously, this subject sense of devaluation is almost a natural thing, it may be the situation in West Germany (former) after the Second World War, one of the most prominent example of this value fell to the lowest mark arrived with some Germans to pack their homes deutsche marks instead of paper The walls are greater cost and this anachronism and there are other examples occurred in Lebanon, Turkey and other countries.

Cheers!
DayDream

P.S. I dont know why they are using 1958 as a comparison except for the fact there was a Revolution that year:
The British created the kingdom of Iraq in 1921 and occupied Iraq again during World War II (1939–45). The monarchy was restored following the war, but a revolution caused its downfall in 1958. Following a series of military coups, the so******t Ba'th Party, eventually led by Saddam Hussein, took control and established totalitarian rule in 1968.

It's an opinion piece and then an interview. I haven't read from the beginning.

It's talking about Eonomies in general and 'deception cash'. Building infrastructure in Iraq and the end compares it to the building of the infrastructure of Germany after the second world war.

I can post the whole thing - but maybe in the main body of the forum as it is really long. If anybody wants to see it.

Oh nevermind - lol.

Is this last June's report or this June's

Baghdad, June.27 p1
Finance ministry & Iraqi central bank study a suggestion about lifting off the worth of Iraqi diner and returning back as the past,

and the suggestion supported by the international bank. Finance minister Bayan Jabr Zubaidi declared that he suggested on bank governor lifting off three zeros so diner would be equal to dollar, on the other hand, he declared his support for national peace initiative.

I think I had already seen this on Rolclub.
Would be a good thing I think.

ÌÑíÏÉ ÇáÕÈÇÍ - ÅÝÜÜÜÜÜÜÜÜÑÇÒÇÊ ÇáÊÜÜÖÎÜÜÜÜÜÜÜÜã ÊÄÓÓ ÚÞÈÇÊ ßÈíÑÉ Ýí ØÜÜÜÜÜÜÜÑíÜÜÜÞ ÇáäãÜÜÜÜÜÜÜÜ

You can then translate to English

Originally Posted by wessgs

Is this last June's report or this June's

Baghdad, June.27 p1
Finance ministry & Iraqi central bank study a suggestion about lifting off the worth of Iraqi diner and returning back as the past,

and the suggestion supported by the international bank. Finance minister Bayan Jabr Zubaidi declared that he suggested on bank governor lifting off three zeros so diner would be equal to dollar, on the other hand, he declared his support for national peace initiative.

I think I had already seen this on Rolclub.
Would be a good thing I think.

ÌÑíÏÉ ÇáÕÈÇÍ - ÅÝÜÜÜÜÜÜÜÜÑÇÒÇÊ ÇáÊÜÜÖÎÜÜÜÜÜÜÜÜã ÊÄÓÓ ÚÞÈÇÊ ßÈíÑÉ Ýí ØÜÜÜÜÜÜÜÑíÜÜÜÞ ÇáäãÜÜÜÜÜÜÜÜ

You can then translate to English

It would be from last June....

The way them people think I was just asking???? Thank you.