Samson: Frank - will Vietnam and Indonesia also have to wait till Iraq RI's ? What is your opinion if you are able. Thanks in advance
Frank26: IMO .............. NO country is as advanced or best prepared to do an RI into an RV of their MR....... Than Iraq.
Gave example on W CC and used a 4 way street with no stop sign as a possible collision as they all strive to improve their Economies and Finances. Along with an Alphabet Soup of agencies IN IRAQ right now verses other countries trying to catch up with the JONE'S called ............ Iraq.
At this present TIME FRAMED ......... The USA/IMF has ONLY one girl at the Prom right now ............. Iraq.
There are more Prom's .............. Coming. KTFA Frank
SydneySam2: Frank, if I remember correctly, I believe you said on one of the Monday cc's within the last month, that if Iraq comes out at 10 cents (as the example you used Wednesday night) when they lift their value, that it would be a dumb move on their part because it would suffocate their economy coming out at such a low rate. Is this correct, or did I hear incorrectly?
MBAGrad: Frank had speculated, in his opinion, that the rate could come out anywhere from .085 cents to .30 cents if Iraq decided not to go with the IMF's recommendation of 1:1.
On a previous conference call of some time ago, I remember Delta had said pretty much the same thing where Iraq could come out at .10 cents to .30 cents as a starting rate.
If this was the case, I doubt very much that it would stay at this low value for very long. If reducing the note count is a factor, then coming out low would help pull some of these large 3-zero notes off the street while allowing the CBI to introduce the new Fils and the 100k notes.
Right now, Iraq is sitting on a rate of .00086
In order for Iraq to start out at Frank's "Low Rate" suggestion of .085, then we would need to see Iraq drop "2" of those "3" zeroes when they turn their currency on. The rate would then show on the CBI website as "0.086" instead of "0.00086".
This would mean that the value of an single 25K dinar note would be worth approximately $2,150 US Dollars.
If Iraq decides to drop only "1" zero from it's starting rate, then the new rate would appear on the CBI website as "0.0086" and each 25K note that we hold would be worth approximately $215.00 US Dollars.
If Iraq were to drop all "3" zeroes from its rate of "0.00086" to "0.86", then each 25K note that you hold will then be worth approximately $21,500.00 US Dollars.
The Saudi Rial trades at approximately .26 cents internationally although other oil states in that region trade much higher.
I'm looking for a few things right now ...... Accountability and Justice Law, Federal Court Law, New CBI Governor and an announcement on Mosul.
I also seek an announcement on Iraq's ascension into the WTO. As Frank says, once we see that, then we know that Iraq is International. We also need to see Adabi name "4" more ministers (Interior, Defense, Trade and 1 other).
In my opinion, Iraq could move off of the program rate at anytime without any of the above being required but General Amnesty, which we got yesterday, was a requirement for the RV itself. That's done.
Those above items would help stabilize Iraq and provide additional security going forward.
All of the above, in my opinion.
Frank26: God God Man !!! You must have slept in a Holiday Inn Express last night .............. rolling-on-the-floor-laughing-
KTFA Frank.......... Anyone wanna sing HAPPY with me right now?