Frank26 When you see things that you don’t want to see it’s not like it’s a delay. It’s the Middle East…it’s a different world…It’s rather brutal…It’s doggy eat dog…
Militia Man Once you apply a real effective exchange rate you become Article VIII compliant, Article IV compliant with the IMF you’ll have a valuation of what the country is worth…
Kaperoni Question: “They have a very large budget ,without an increase in rate how do they meet the projects that is lined up?“ External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.
Pimpy Iraq was already a member of the World Trade Organization. They are going through the ascension process for a second time. That’s because all the rules, regulations, understandings and business practices…changed once the fall of Saddam Hussein. Now we have to make sure all their practices, rules and regulations regarding trade line up once again with the World Trade Organization. Iraq has been a member of the World Trade Organization since 2004. This is their second time throughout the ascension process…
Samson Article: “Iraq – Formal Resumption of Iraq’s Accession to the WTO”
PompeyPeter The contracts are done in the country they’re done with. If contracts are being done with Italy, France, Germany, they’re in Euros. Great Britain, they’re in pounds. U.S. obviously dollars…When the rate changes that’s when the Iqd rate to the equivalence of the local currency becomes relevant. In other words, they’re not going to be paid at 1310.
Frank26 The new currency that’s coming out has more safety features on it than any other currency on this planet. More than the American dollar, because it’s a state-or-the-art technology of how they produced it with the monetary reform.
Militia Man If they change the value of their currency they’re going to have more surpluses…The oil price is about $70 in the 2023 budget. That hasn’t changed for ’24 or ’25 because that’s a tripartite budget. They got a surplus. Oil is somewhere around $80. It’s been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel…Iraq is going to be sitting pretty good…They have phosphates…sulfur…natural gas…Those non-oil revenue streams…taxes and tariffs are going to come online…Iraq has a good foundation for Alaq to do what he’s supposed to do.
Bruce [via WiserNow] …We have Memorial Day on Monday — It looks like we probably will not get…the 800 numbers to call in until Tuesday — when everybody’s back at the redemption centers back to the call centers. I believe we’re gonna get those on Tuesday and exchange if we get them early enough, either on Tuesday afternoon or on Wednesday…That’s where I’ve been led from these sources that we have.
MarkZ [via PDK] did hear some interesting things from military contacts. One in particular kinda surprised me overnight…don’t panic because they do their best to cloud the timing…He said “Do not worry- it will be before July 4th.” We will have it all before July 4th. Actually a couple military contacts gave me that same time frame. I still have great hopes for sooner…it is interesting they have plans to have it completed by July 4th…For all we know it could happen tomorrow…nobody knows the timing.
