DINAR UPDATES 4-3-16
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Sunday PM Chat 4-3-16 Part 3 of 3
wmawhite says():For those who continue to wonder about the success of the tariffs, here is an article that referrs to the success of domestic companies doing much better because of the tariffs are slowing down the importation of cheaper goods.
Antoine: application of the customs tariff and behind this success 4/4/2016 BAGHDAD - Shokran Fatlawi revealed Vice President of the Economic Forum, an expert on behalf of Jamil Antoine in his speech for »morning», for the sales of one of the industrial companies, for the manufacture of cement it rose in the first ten days of March last to 140 thousand tons, up from its sales during the month February 35 thousand tons,
as a result of the application of legislation, particularly the customs tariff, and prevent the import from neighboring countries, pointing out that the quantities can be increased. financial savings and went on to say: that this is nothing more than a model for the rest of the industry,..............
cjquade54 says to wmawhite():I would think investing in Iraq concrete companies would be a good inverstment right about now.
jarhead says to cjquade54():they got plenty of sand :D
cjquade54 says):or anything to do with construction
Knucklehead says to cjquade54():Best cement in the world but can the export any?
jarhead says():the real investment would b in their oil and natural gas stocks
cjquade54 says to Knucklehead():I don't know but they won't have to import much
Baxter says():they only had 35 tons of concrete sold in February?? thats about 5 cement truck loads....
jimplants says():my money would be on Genel if i were going that route
cjquade54 says to Baxter():their stock would be cheap right now
Baxter says():WOW... they are really busy....eh... Jarhead....
Baxter says():Five trucks in a MONTH...
jarhead says():that could b dry concrete
cjquade54 says to Baxter():but what about the next few years?
jarhead says():still not that much
Baxter says():no... its not..
Baxter says():CJ... probably be a wise investment over there... everything is built of concrete
cjquade54 says to Baxter():but they are switching from importing to using domedtic
Knucklehead says to jarhead():You mean cement? Concrete is measured in yards cement by tons
jarhead says():i realize that but thats still not much
cjquade54 says to Baxter():gradually though that may be
Knucklehead says to jarhead():Its nothing
Baxter says():I dont want any more businesses.... just my money.....
wmawhite says to cjquade54():Anyway.........the point was this......in February this particular company had particulary no business because of the imports were flood the concrete market.
Now, with the tariffs in place, the imports are much lower. So low that this company's business went from 35 tons to over 140 tons........................nearly a 300% increase in business.
wmawhite says to cjquade54():were flooding*
BGG says to wmawhite():I could use a 300% increase in business. :D
wmawhite says to BGG():And you wouldn't whine about it either.................lol
TLF says():the begining of something great for iraq and our investment
BGG says to wmawhite():Nope!!
BGG says to wmawhite():Anticipated economic program
wmawhite says to TLF():Yes, it has.........
Dr Dave says():a tenth of penny to 1.17 is 11,700 percent ROI
Baxter says():Now that... is a business increase....
wmawhite says to Dr Dave():and that it just the initial "market rate" and not where they want to return to either.
Baxter says():times 3... for over 3 bucks... would be a 33,000 percent increase....
Dr Dave says():...i believe the 1.17 was the minium
Dr Dave says():PERFECTO
BGG says():BBIAB - supper time...
Dr Dave says():Happy in the middle somewhere
Baxter says():Sure beats Concrete.... (y)
Baxter says():Concrete down here in Florida is now 150 dollars a yard...
Baxter says():I just poured a 24 X30 garage slab... was 8500 dollars..
Baxter says():In 2003... up in Ohio.... it was 45 dollars a yard...
jtank says():back breaker
wmawhite says():and for those people that say it can not be done, consider this:
Baxter says():Oh... I didnt pour it Jarhead... the Mexicans did...
wmawhite says():, keep in mind that Iraq invaded Kuwait in August 1990.
The Kuwaiti currency at that time was the Kuwaiti Dinar.
The Kuwaiti currency was replaced with the Iraqi Dinar by Saddam Hussein.
Seven (7) months later, February 28, 1991, the Iraqi forces are kicked out of Kuwait and the war has ended.
Only twenty six (26) days later, March 24, 1991, the Kuwaiti banks reopen with a NEW currency valued at 1 KWD = $3.50………….the key here is twenty six (26) days.
If any Kuwaitis still held the old Kuwaiti Dinar it would be accepted at one new KWD for one old KWD rate
TLF says():a good thought TLF says):or reminder
Scotzgirl says():Do we know the value of Kuwaiti dinar to USD before Iraq invasion of their country?
Dr Dave says():They ended the 50 dinar note in a few month...wothless... my whole suitcase to take to Reno
wmawhite says():The point is this...................from August 1990 March 24, 1991........the KWD did not exist.............gone, by by...........and once the Central Bank of Kuwait reopen it re-instated it original value.......and all the while the oil wells were still burning.
wmawhite says to Scotzgirl():this is from the LA Times article: When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.
Scotzgirl says():tyvm... for everything
wmawhite says():for those who have not read the article, here it is:
wmawhite says():Crush Expected When Kuwaiti Banks Reopen Today
March 24, 1991|From Reuters KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.
Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.
"We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.
Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.
When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.
Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.
Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.
The new Kuwaiti money will be exchanged for old at a one-to-one rate.