Chat Room Excerpts & Highlights
jtank says():what do u think of the bond sales– not much money from sales–?
jtank says():Md was implying the 15th was a date to consider because of the bond sales on that date–dunno
designbyg says():i wouldnt expect a rush of sales….but the fact bonds are available is good….
designbyg says():and these bonds are ‘international’ yes?
jtank says():dunno- guess so
designbyg says():i believe they are….all part of the plan i expect….wether they sell large volumes or not…its all good….
jtank says():as long as they keep on moving forward–
jtank says():well i dont think the sales will help their situation at all–
designbyg says():once this reform program gets to a point where the currency means something, watch sales then….
jtank says():the reserves they have left wont even come close to what they want to do in Iraq- abouth 100 bil usd short
jtank says():unless they get money from somehere or reval
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():Good morning IEA reports oil prices have probably bottomed and emerging market currencies
David[X25SNDAUGTUKHUQWI6BTABCMVI@yahoo..] says():are ralling big
jtank says():larry– the bonds on sale the 15 are international
jtank says():goin good thx
larrykn says to jtank():not sure about international but if they don’t raise the rate they will be worth nothing
clay says to larrykn():GM 🙂
jtank says():waste of time like all the other bond sales
wmawhite says():If you are in the USA and you buy the U.S. Savings Bond does it matter what the exchange rate is of the USD? Answer: No, because you are buying the savings bond with the USD inside the USA. This is the same scenario with the domestic bonds in Iraq.
arrykn says to LLN65():except Iraq has no value at this time, those bonds that are to pay 6% interest would not pay anything at 1182 it would cost them more then they are worth
LLN65 says to larrykn():good point
wmawhite says():folks,………if the USD was worthless and you bought US Savings Bonds with worthless USD does it matter? The answer id NO. The vale of the IQD has nothing to do with those bonds.
larrykn says to wmawhite():the price of the bonds I can see that, who cares but now they are talking about the interest off those bonds , how much interest would you get at 1182, I don’t think they will find many buyers IMO
clay says to larrykn():Im with you
wmawhite says to larrykn():to the Iraqi citizen receiving 6% of 1182 IQD is 70.92 IQD.
larrykn says to wmawhite():which would buy them what ??
wmawhite says():Folks,……….the issue that are solely enternal to Iraq has very little to do with what we are waiting on. The CBI/GOI could sell domerstic bonds and receive payment in apples or gold or silver. That has nothing to do with the moving into Article 8 and the acceptance of the international financial community of the IQD.
wmawhite says():domestic
clay says to wmawhite():got ya
R&R says():A U.S. Series EE savings bond can be bought for $25 and has a rate of 0.10%. Compare that to the Iraqi National bond, smallest denomination is 100,000 dinar ($90) and has a rate of 6%.
R&R says():Or a better comparison would be a 2-year U.S. T-Bill, with face value $1,000 and a current rate of about 1%. For the same $1,000 (or 1 million dinar approx.) an Iraqi could buy 10 national bonds, and get 6 times the interest what we get here.
wmawhite says to R&R():Thank you and good points.
billuke says():To me, 6% is 6%, no matter what the rate of the currency is, because prices of goods in a country are reflective of what the current currency rate is.
larrykn says():so for a country that does not trust their banks you think they would want to put their money in the banks to buy these bonds to get 6% interest???
wmawhite says():another example is again buying a US Savings bonds in your city , of course with USD, has nothing to do with the USD’s exchange value with Japan, China, Great Britian,etc, etc…..same with the domestic bonds of Iraq……they nothing to do with its current value.
billuke says():No I don’t. But unless the rate changes and make these bonds attractive, it will fail again
larrykn says to billuke():that I agree with 🙂
wmawhite says):Inside the USA $1 = $1. Inside Iraq 1 IQD = 1 IQD. A currency only has value when it is compared to another currency. It is not relevent when comparing to itself.
wmawhite says():It is the same as comparing yourself to yourself.
clay says to billuke():I agree GM
wmawhite says():You have nothing to gauge yourself to.
billuke says to wmawhite():So Iraqis buying these bonds at 6% is better than 0%, even at the current currency rate – again supposing they trust their banks, if I’m following you correctly.
wmawhite says():Let me ask this: to an Iraqi what changes with the domestic bonds if today the IQD becomes value at 1 IQD =$4.00? What changes inside Iraq with the bonds? Nothing.
larrykn says():but the question again is who will buy them, I see no incentive to do such a thing
billuke says to wmawhite():agreed
Pablo says():Are these bonds available to outsiders?
wmawhite says to larrykn():Why do you continue to accept being paid with USD?
wmawhite says to Pablo():If you travel to Iraq and walk into a bank and buy one.
Pablo says():Not the safest of journeys.
larrykn says to wmawhite():why are you talking about usd, I’m talking about iqd
larrykn says to wmawhite():people here except the usd for what it is, over there not so much
wmawhite says to larrykn():If you lived in Iraq it has value in Iraq………you are comparing it outside of Iraq and that is not relevent.
Pablo says():But an outsider wouldn’t be all that inclined to buy without an incentive and keeping the rates as they are is not an incentive.
Larrykn says to wmawhite():but my point is the people do not trust the banks , they have been ripped off over and over again, what incentive do they have to try it again
billuke says to larrykn():in other words, 6% growth is 6% growth, no matter the rate of the currency in that country
wmawhite says to larrykn():That has nothing to do with the selling of the bonds.
larrykn says to wmawhite():but is that enough for people to go back to the banks??
wmawhite says to billuke():Exactly
wmawhite says to larrykn():two different subjects……..
larrykn says to wmawhite():again 6% of 1182 and 6% of lets say $3 is a big differents
wmawhite says to larrykn():The discussion was the value of the IQD and the buying of the bonds
larrykn says to wmawhite():no its been my point
wmawhite says to larrykn():No,……….for example……..the value of the USD inside the USA is not relevent to the value of the USD in Britian or Japan.
billuke says to larrykn():correct, but 6% of a 1182 rate in any particular country is still 6% growth, because the goods in that country (Iraq) is reflective on 1182.
wmawhite says to larrykn():What is the difference with the domestic Iraqi bonds today or tomorrow if tomorrow the IQD values at $3 per 1 IQD? What is the difference inside Iraq? Answer: Not a thing.
larrykn says():ok, I understand your point enough said, lets see who buys them at 1182
wmawhite says to larrykn():The key here is: inside Iraq because a IQD = to a IQD
larrykn says():of course if they buy them at 1182 an they change the value that would be a different story
wmawhite says to larrykn():We don’t care because it has nothing to do with what we are waiting on……..or at least I don’t care.
wmawhite says to larrykn():No………that is not so……..inside Iraq there is no change in value…….you have to take your IQD and leave the country to see the change.
clay01 says():the thing I found interesting about the bonds was not the 6 percent but in the low amount that they would be sold, at 1182, not a lot of value, but at 1.00 a lot of value
wmawhite says():This is nuts………
elliscole2002 says():lol
clay01 says():we get your point, but you dont see ours
wmawhite says():If the IQD became worth $100 per 1 IQD how does that change the Iraqi domerstic bond? key is DOMERSTIC…….only inside Iraq. How does it change the bond? It does not change it at all.
billuke says to clay01():the value is reflective that country’s currency – in that country. $1 in US, 1182 in Iraq, 22,286 in Vietnam, etc.
wmawhite says():DOMESTIC
larrykn says to wmawhite():my point is ( in country your right a dinar is a dinar at that value you can buy so much for that dinar, but when they raise the rate, what you can buy for that same dinar will increase , so will the 6% on those bonds, you will get more value to that bond
billuke says to clay01():6% growth in that country, is still 6% growth – inside that country.
clay01 says to clay():yes that is right, but in Iraq today, a million dinar still does not buy very much, and 6 percent of that is almost nothing in Iraq
wmawhite says to billuke():Maybe some people do not understand that they can not take the domestic bond outside of the country because there is no value outside of the country.
billuke says to clay01():how do you know what 6% can or cannot buy in Iraq?
tman23 says():How is Iraq selling the Bond and paying the Bond……..An emerging market bond @1182 becomes quite attractive……..forget the 6%……it is the increase in the value of the currency that the investor cleans up on…..
clay01 says to clay():we get that, but why sell them in so low denomanations, why 250,000 dinar
larrykn says to tman23):that is what I was trying to point out , ty for those wordings 🙂
elliscole2002 says():to make them affordable to all citizens
clay01 says():most citizens cant even afford that much
larrykn says():business can 🙂
larrykn says():who are they trying to bring in
clay01 says():exactly
subgirl says to wmawhite():thank you mr white for explaining the bonds issue with us! 🙂 YOU ROCK!!
R&R says to wmawhite():Yes… thank you (y)
billuke says to tman23():but also along with making it attractive, a change in currency rate will also change the prices of goods & services – within the country.
joyojoy says():Would someone show the math for the return in country on these bonds?
joyojoy says():please
billuke says to joyojoy():if it’s 6%, then 1182 would be 1252.92 in one year
billuke says to joyojoy():if you’re in Vietnam, 22,286, in one year 6% would give you 23623.16
joyojoy says to billuke():So the difference between those numbers in in dinars? the return is 70.92 dinars
clay01 says():the 6% doesnt mean much, it could be 8 or 10, the thing that is interesting is the amount the bonds will be sold in, 250, 000 dinars
R&R says to joyojoy():THe smallest face value is 100,000 ($90) with a 6% coupon and a 2-year term. They would get 6,000 dinar interest ($6) the first year and then 6,000 dinar plus their 100,000 principal ($96) at the end of year two.
R&R says to joyojoy():Use the same math for any of the other bonds (250K face, 1million face, etc.)
joyojoy says to R&R():that is what I thouht but this discussion has confused me.
billuke says to joyojoy():correct – because it’s only reflective what that particular country’s rate is
larrykn says to R&R():now put a real rate to that and what kind of returns would you get
joyojoy says to R&R():is it not true that the exchange rate does not matter in country?
tman23 says():Say you purchased the emerging market bond for 250,000 dinar and Iraq lifted the 3 zeros and the rate was 1-1…. that bond is 250,000 dinar regardless…….
BUT lets say when they lift the 3 zeros they also lifted them from the currency notes on an exchange…….25,000 note becoming 25…….. you have 25 dinar on exchange…
NOW don’t freak out and say oh NO LOP…….I am only presenting an example……and I do not know exactly how these bonds are being offered………They made sure before to say paid in USD……
joyojoy says to R&R():as it relates to these bonds?
R&R says to joyojoy():Honestly, I wish I was smart enough to answer that question ({) That’s beyond my capabilities. I know my limits! LOL (F)
dinarmassa says():I was under the understanding the bonds were being sold internationally to spurt investments, is that not true
R&R says):What I can tell you though is that Iraq (through Zebari) told us last year they wanted to raise $7 billion dollars through bonds sales both foreign and domestic.
joyojoy says to R&R():Okay thank you!
billuke says to dinarmassa():I believe they’re in-country bonds
wmawhite says to joyojoy():Please explain to me how the international exchange rate matters inside a country whennnnnnn, get this, when there is not an exchange rate inside a country, They only apply outside.
R&R says():The started the motions both ways, but ran into problems. First, when they tried to float the international bonds, they told us the investors terms “were too exorbitant” and that the rate necessary was too expensive.
Baxter1243 says():I doubt that will happen… 7 Billion…. love to know where the money is going to come from…40% unemployment.. most of those with Govt jobs… dont get paid regularly… bonds may help a tad.. but I wouldnt expect much at all..
joyojoy says to wmawhite():I agree
Baxter1243 says():especially when they dont trust the banks… and who could blame them with all thats been in print lately…
R&R says():So then they decided to break it up into tranches, with the 2 billion “national bond” which you are seeing now…but there was a problem….
R&R says():Remember this article?
billuke says to Baxter1243():well, these bond sales could again, this would be a 4th time, I believe
R&R says():Central Bank: the public retains 85% of the money circulating in the market
February 16, 2016 http://aletejahtv.org/index.php/permalink/100000.html
billuke says to Baxter1243():could again fail
R&R says():THe problem with the national bond as you guys are saying is that most of the money is held in cash by the citizens…. not in the banks
Baxter1243 says():I think these bond sales are more to satifsy the iMF that they are at least trying..
R&R says():How do you reach these people? Go door-to-door? Here in the US, we call our brokers, or they call us. No so over there.
R&R says():It’s hard to sell 2 billion in debt door-to-door….
wmawhite says to R&R(The issue of if people buy the bonds has nothing to do with thevalue of the IQD outside of Iraq. Instead, it has much to do with the availability of cash.
R&R says to wmawhite():I agree, assuming that comment was for me
wmawhite says to R&R():yep
trout1 says():sure looks to me like desperate attempts to reduce the note count in preperation to realese the lower denoms
Hutch says to wmawhite():You have done an excellent job of explaining the bond issue.. Thank You For all you do !!
R&R says():So Iraq is trying to solve several problems all at once. They overreaching problem is the budget deficit. They have chosen not to sell bonds internationally now, because the terms are to difficult. They want to do the “national” bonds inside Iraq, but they need citizens to (1) be enticed to buy; and (2) open bank accounts and put their cash in the bank
larrykn says to R&R():totally agree 🙂
Baxter1243 says():I wish them Luck…. with all thats been printed about Banks lately…
R&R says():By doing so, this solves two problems: (1) it kick starts, the bank system because people start using the banking system, and the banking system can start functioning the way it is supposed to
R&R says():And (2), it is so much easier to sell gov’t debt when the gov’t has the full power of the banks and brokerages to reach out to the public. Not the door-to-door method they would have to use when 85% of the money are attracting is in mattresses
R&R says():So this much more than an 1186 or 1-1 issue….it’s bigger IMO. But it all ties together.
Pablo says():So what’s the enticement for getting the cash out of the mattresses?
Baxter1243 says():the Big 6% return I guess.
larrykn says to R&R):I’m still trying to figure how they are going to get the people to take their money out from under their mattresses and put it in the bank
Pablo says():6%,…….wooo, I can retire and live the life of luxury. 🙂
wmawhite says to Hutch():yw
R&R says():RIght now, IMO 6% interest…. but Abadi is also speaking out a lot to the citizens these days trying to “encourage” them to buy into, and believe in, the plan. I think this is where the reforms help.
R&R says():Both the ministerial, and economic reforms, that is
rcookie says():THE BOND SALES ARE NOT TO SATISFY THE IMF….THEY ARE A DEFICT BRIDGE IN THE 2016 BUDGET….
rcookie says():GM ALL….
larrykn says():if the people believe in Adabi I think they will get this done, I pray they do believe in him
wmawhite says to rcookie():thank you for bring that out. It is internal to Iraq.
rcookie says():JUST READ IT…..
rcookie says():AS ARE PAYING ARREARS…AS ARE THE GUARANTEED GE & BOEING CONTRACTS…AS ARE THE CUSTOMS TARIFFS 2010…AS ARE THE 50% PROVINCE TARIFF REVENUES FROM PORTS…AS ARE THE 5% PROVINCIAL OIL REVENUES…
rcookie says():ITS A FULLY EXECUTING BUDGET….
dinarmassa says():understand what has been explained about the bonds domestic sales, but have to agree with the statement made, if people are broke how can they afford bonds.. many failures in the past trying to sell bonds
rcookie says():THE 22 BILLION DEFICIT…WAS TO BE PLUGGED WITH INTERNAL & EXTERNAL LOANS AND TREASURY BONDS WORTH 12 BILLION DOLLARS….
rcookie says():IRAQI CITIZENS…WHILST THEY ARE EXPERIENCING SEVERELY CHALLENGING ECONOMIC HARDSHIPS (POVERTY & UNEMPLOYMENT) ARE CERTAINLY ENGAGED IN INVESTMENT….
AS THEY ARE THE SINGLE LARGEST FOREIGN INVESTORS IN REAL ESTATE IN THEIR NEIGHBORS JORDAN & TURKEY….THE LARGEST!!!
dinarmassa says to rcookie():taking out the corruption who were buying, what was left
rcookie says():??
dinarmassa says to rcookie():you indicated the largest investors in realestate, was that purchasing done by the corrupted side of Iraq
rcookie says():THE EDUCATIONAL PORTHOLE ON CBI AND ALL RELATED BANKS…IS TO WORK TOWARD DIFUSING THE DISTRUST AND LACK OF KNOWLEDGE TOWARD BASIC GENERAL BANKING CONCEPTS AND PRINCIPLES…..
dinarmassa says():it all boils back to the trust issues
rcookie says to dinarmassa():SOME YES….BUT OTHERS LOOKING FOR BASIC INVESTMENT VEHICLES….
cookie says to dinarmassa():NOT GOING TO HAPPEN OVERNIGHT…BUT THERE IS AN ACTION PLAN IN PROCESS TO ADDRESS….
dinarmassa says():Taking away the corruption its hard to figure where the expendable money lies.
rcookie says to dinarmassa():B – The Federal Minister of Finance shall be authorised to continue
rcookie says to dinarmassa():borrowing cash or issue bonds or money transfers, with Cabinet
dinarmassa says():an RV would immediately provide investment dollars to the domestic investors
wmawhite says to dinarmassa():That is not so…………..a IQD value at $3.00 is still only 1 IQD inside iraq.
rcookie says to dinarmassa():approval, for the purpose of bridging the actual deficit in the
rcookie says to dinarmassa():General Federal Budget, or for any other purpose as stated in this law, to: –
dinarmassa says():I understand the value in country of the dinar, but an RV will allow my spendable dinars to invest or whatever due to the fact it doesn’t take as many dinars to but products
dinarmassa says():buy products
rcookie says to dinarmassa():ABOUT 150 DEMONSTRATORS IN TAHRIR SQUARE TODAY….
dinarmassa says():I’m about ready to join them
dinarmassa says():wearing my antisuicide vest
rcookie says():IRAQ SIGNED MOU WITH EGYPT CONCERNING OIL……..
tman23 says():PM Haider al-Abadi has recently delivered a letter to Iraqi political factions, asking them to suggest their candidates within one week (by next Wednesday) as he is planning to re-form the cabinet sooner than planned.
Pablo says):I thought they already had presented their names.
dinarmassa says():Years ago there was a great deal of talk that an RV could happen at a $10.00 rate, have we ever considered that a much higher rate could occur early, then reduce to some leveling off rate. Just Curious when looking at potential growth besides oil, and gold reserves on hand
tman23 says():Iraq has already issued Treasury bonds to domestic banks and has international bonds. The Bank said in a statement e-mailed to the new version by six percent and will be sold to the public and local banks, from 15 March to 15 April.
poppy3 says to tman23():SO THE ANNOUNCEMENT FOR THE BOND SALE AND STOCK EXCHANGE BEING ACTIVATED ON MARCH 15TH IS OUT OF THE POSSIBILITIES AGAIN .
NO VALUE ADDED SO THE BONDS CAN BRING IN MONEY AND NOT COST . NO BUDGET FUNDING FROM BOND SALES. POPPY3
slh5282 says to rcookie():any idea as to when you guys are going to do another call? I thought i heard on thursday but did not see where it occurred.
R&R says to Pablo():Sadr’s group has and I think the NA did as well (though they originally asking for 6 more months) Just waiting for the others to submit their picks for consideration…
Pablo says():Ahhh, thanks.
R&R says to Pablo():(y)
Pablo says to poppy3():Couldn’t they RV on the weekend to add value?
rcookie says to slh5282():KURDS RESUME PUMPING OIL TO CEYHAN AFTER 3 WEEK HIATUS….
rcookie says to slh5282():TALKING ABOUT IT TODAY…
slh5282 says to rcookie():ok thanks
slh5282 says to rcookie():any idea what time or around the same 4:30 Central
slh5282 says to rcookie():YOU THINK THIS IS GOING TO DROP THE PRICE OF OIL AGAIN?
slh5282 says to rcookie():HOPEFULLY NOT SINCE THEY HAVE SIGNED AGREEMENT WITH EYGPT..
Baxter1243 says():Oil today is at 37.84… down 1.19%….
mudder says to Baxter1243():oil we want is BRENT $40.34 RIGHT NOW
Baxter1243 says():Ok…. thx..
Baxter1243 says():thats a little better
Baxter1243 says():Crazy what it has done.. from over 130 to now..
slh5282 says to rcookie():MUDDER WE LOOK AT WEST TEXAS CRUDE AND IT IS $37.84
mudder says to Baxter1243():See… If you reseach a little instead complaining… You would understand a whole more….lol But then??? What fun would that be??
Baxter1243 says():I dont complain… just tell what I see…
slh5282 says():WE GET PAID OFF OF WTC PRICE
mudder says to slh5282():Not if we look for reason Iraq needs oil at a certain price we DON’T
Baxter1243 says():SLH says you are wrong by the way…. on the oil…..read up..
poppy3 says to Baxter1243():IT IS OBVIOUS TO MEOIL PRICE IS BEING ARTIFICIALLY INFLATED BECAUSE WITH ALL PARTIES IRAN AND IRAQ PUMPING OIL AND SHIPPING GLOBALLY THE OIL MARKETS ARE FLOODED WITH OIL AND WILL REMAIN FLOODED UNLESS VOLUNTEERING CUT BACK TAKE PLACE TILL OPEC TAKES CONTROL OF ALLOWABLE PUMPING. POPPY3 I MIGHT ADD GAS HERE IN TN. JUMPED 21 CENTS IN ONE DAY THIS WEEK. POPPY3
slh5282 says():HERE IN KY ALSO
Baxter1243 says():I agree Poppy…. totally….. gas here in florida is 1.65…
chickadee says():here in Fl to we just went over 2.00
subgirl says to larrykn():thank you for copyng 🙂
slh5282 says():IT IS BACK UP OVER $2.10 IN KY
larrykn says():yvw 🙂
Baxter1243 says():Wow Chickadee… where are you? its 1.65 near Orlando
chickadee says to Baxter1243():panhandle. it never went down below 1.77
Baxter1243 says():Maybe ours will go up then…. who knows
slh5282 says():WELL GUESS I WILL FINISH UP FOR THE DAY AND WAIT FOR THE CALL TODAY,, BBL WISHING ALL A GOOD DAY AND GREAT WEEKEND. STAY DRY.
Baxter1243 says():Dry…?? it hasnt rained here in a month
chickadee says to Baxter1243():they raise it .19
Pablo says to poppy3():There’s a cal today?
Pablo says to poppy3():call
Pablo says():Sorry, that was for all.
chickadee says to Baxter1243():opps. than lower .10
slh5282 says():DOWN HERE IT IS WWWEEEETTT. LOUISANA IS WASTE DEEP IN WATER
Baxter1243 says():I heard that….
Baxter1243 says():Sunshine and 75… headed for 86 today
slh5282 says():WEST TEXAS IS STILL DRY AS OLD POPCORN
Woodywoodpecker says():very wet in East Texas
Woodywoodpecker says():of course I am in a tree
Baxter1243 says():Our lakes are down about two feet….. and falling fast..
chickadee says to Baxter1243():so different there we have had so much rain getting more tomorrow
Baxter1243 says():I know… we used to get a lot of rain… not any more… like a desert here..
chickadee says to Baxter1243():we were like that for about 8 yrs
Baxter1243 says():Our water bills here are ridiculous….. Im about ready to have a well dug..
jtank says():baxta–how much for water?
sheila3 says to subgirl(Whisper message)():you ready for me to take chat
msdiva says to rustynail():poppy3 says to tman23():SO THE ANNOUNCEMENT FOR THE BOND SALE AND STOCK EXCHANGE BEING ACTIVATED ON MARCH 15TH IS OUT OF THE POSSIBILITIES AGAIN .
NO VALUE ADDED SO THE BONDS CAN BRING IN MONEY AND NOT COST . NO BUDGET FUNDING FROM BOND SALES. POPPY3
jtank says():Wa. state $60 winter and $90 summer for water
rustynail says to msdiva():thank you
msdiva says():anytime rustynail (handshake)
chickadee says to Baxter1243():min is only 15. amonth but I am not on sewer
Localcats says():is no news good or not?
clay says to Localcats():all talk of bonds which doesnt effect our outcome thats it
Localcats says():bonds may be real good on the 15th hope so
faith1 says to clay():seems too me Millionday is watching the boond situation closly… I could be wrong… but IF they go on their stock exchange ,, it should be at a reality rate… IMO ?? anyone?? !! (v) and Love too all as we ride this out… weee heee
Localcats says():did anybody see the auctions were going to be weekly not daily ?
Geofitness says to wmawhite():Have you seen this? Is it significant? http://www.mop.gov.iq/mop/index.jsp?…pid=295&lng=en
http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en
clay says to Localcats():not if it carries artificial rate
maine says():at the very bottom ammended rate change?
clay says to Geofitness():I like this in it
clay says to Geofitness():Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
Geofitness says to wmawhite():Me too but unsure if we should be excited at this point. Love to receive input from cookie and white
tman23 says():Not sure about the Bonds except they are a tool used to raise money/create liquidity…. The CBI is issuing the domestic bonds to the banks for sale march 15 to april 15…..
That said: the good news is the banks are in the infant stages of operating like banks…….AND the plan is to start providing loans for mortgages and small businesses……
The loan applications are available now……. SO……. The banks opening for new business and begin lending money……. Will these loans post for a home mortgage “say” 55 million dinar….. $55,000,000.00 or $55,000.00……..
It makes absolutely no sense to open new 20 year term loans that have the extra 3 zero accounting…..then in 3 months or 6 months or one year have to adjust all the loans and redraft the books for new accounting less the 3 zeros…..Forget the Bonds the markets etc……. Watch the LOANS …IMO
maine says():i agree!
maine says():follow that money
tman23 says():Shabibi spoke on mortages……. It was in terms of 3 zeros and creating chaos and confusion for the citizen and opens a door to corruption…….
For instance the citizen pulls a mortgage for 25,000,000 (twenty five million dinar)……..So Ali has a 25,000,000 dinar mortgage……. his payment is 200,000 dinar per month……
There is a revalue and the CBI lifts the zeros……..Ali now has a note (lower denom) of 25 dinar…… he owes the bank 200,000 dinar…….thus the confusion……. and although the bank is more professional……the problem is private loans and commerce outside of these institutions……..
wmawhite says():[11:03 AM] Geofitness wmawhite: Me too but unsure if we should be excited at this point. Love to receive input from cookie and white……
Folks, I do not understand………the IMF told you that Iraq will (not maybe or thinking about it), but instead said “will” join themarket/economy market during the 1st half of 2016………..
and we are unsure if we should be excited. I just don’t understand what is needed to understand what is happening.
Geofitness says to wmawhite():Thank you, but I meant excitement specifically in the link I sent you. But Firefly said it was four years old. So that was negated
maine says():Its very plain to see this is unfolding before us!
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