6-3-2012 Duckyboy NEWSLETTER: This is and will be a big month for Iraq. The Security Council meets towards the middle of the month and may or may not release Iraq from Chapter VII. Remember that this is not a financial issue, but long standing issues with Kuwait.
Tariffs laws are due to start by the end of the month (yes, I was wrong). From the articles that I have read, there will be a 50% tariff on all goods coming into Iraq, except for food and clothing. So, a car that cost $10,000 will now cost $15,000, just an example. TV's, computers, lipstick, Kleenex, you name it, if it's imported into the country it will cost 50% more.
I cannot imagine all products having such a heavy tax imposed. We can expect to see Joe Biden over in Iraq giving his advice. Good luck Baghdad!!
In reality, Obama desperately needs this RV to happen. There will be a lot of new money coming into the UST. There will be job openings, new companies forming, homes purchased etc.
He needs the financial sector to be lifted up and fast. Obama is not holding this back like all the Gurus have stated at one time. This is an Iraqi RV, not resetting the worlds financial systems. Basel III is supposed to help with this matter. This may be a very interesting week.