Lexi: So they can do these bonds without showing us the new rate correct? Like Walkingstick said, not their 1st rodeo-
StephenMac63: It’s not the first rodeo, for sure.
Here’s my take. The article says its for Iraqi Market, which, imo, is not International, its National.
Right now a dinar is a dinar. Its only when you compare the values between an IQD and a USD do you see a range.
The big clue to me was the fact that it was in classifications of 5 million dinar. Many folks in DinarLand have that so to offer only a 5 million dinar bond was odd……..unless there was a reason. IMO, since it was only for Iraq and a dinar is a dinar, the reason is to get the Iraqi citizens to turn in the higher notes (the 3 zero notes). The CBI wants to get the larger notes off of the street and are using various options, with a bond sale being one of them.
You’ll notice that the bond “matures” in 3 months. Pretty nice for a time frame. And youl notice a very favorable rate of return. Basically the CBI is buying the three zero notes from the Iraqi citizens and giving them a bonus in 3 months.
As for the “new rate”. You only find a new rate when the numbers have changed, and the changes we want to see are the International Exchange Rate. This is the part where every one in DinarLand is salivating as we want to see what the IQD is valued against the USD…outside of the country.
In the meantime, to cure the salivating problem, one can get a bib or a dropcloth, your choice.
IMO, Of course
Walkingstick: Once again: National Bonds.. (Denominated in local currency) Traded in the Iraq stock market… Reasons of … a means to draw in liquidity from the Iraqi citizens, prevent hoarding of local currency … draw in, interest in local bonds in lieu of foreign… in turn, promising a positive return … As, the CBI did in 2016 with their announcement prior to launching the National/ local bonds… Then
Blinkster: this indeed makes sense. A nice way to vacuum those notes off the street…with a reward for doing so. Thank you, Walkingstick!
Moparman: Huge, huge, huge.
Walkingstick: fwiw … Some, may be… surprised, to learn… How many, Iraqis… can in fact, afford to purchase these bonds… Question is, will they?
Frank26: IMO …………….. YES !!! TELL U TOMORROW WHY KTFA FAMILY ………
Walkingstick: BFBR…. DATE
Iraqi Shi’ite Leader Wants Every Citizen To Get Share Of Oil Wealth
March 22, 2016
Prominent Iraqi Shi’ite Muslim cleric Muqtada al-Sadr has called on the government to provide every Iraqi citizen with a share of the country’s expanding oil revenues.
Sadr made his call at a large rally in Baghdad on March 21 where he also demanded that a technocrat government of non-affiliated politicians be installed in Iraq to fight corruption.
Sadr’s speech to supporters also called for an improvement in public services and for an economic revival to help end high unemployment.
Iraq has some of the largest crude oil reserves in the world but ranks 161 out of 168 countries in Transparency International’s Corruption Perceptions Index for 2015.
Sadr’s followers have held regular protests for most of the last month to demand a new government be formed.
Sadr is the leading Shi’ite leader in Iraq.