Dr. Rich: ....Folks - did you know on April 27th, the CBI gave us a rate as an RI ? Dr. Salah said the 50 dinar note was valued at $43.00 or .86 cents USD. That means your 2 25K noters equal to the fake 50K note is worth $43,000. in Iraq. Also a lady in iraq sent a message on facebook to a person on the Big CC, and said in her area the rate was $100. USD is the same as 133 dinar or .75 cents USD. So, this is huge and we must be very close.
RedBaron: IMF on verge of declaring yuan fairly valued: Report : The International Monetary Fund (IMF) is reportedly on the verge of declaring China's currency fairly valued for the first time in more than a decade, the Wall Street Journal reported on Sunday. -->
Pearle: If they are issuing bonds. It means they are borrowing money...they also borrowed money from the IMF ...I am confused....why not Rv, you would not need to do any of this
Appaloosa: PEARLE - it is necessary for Iraq to borrow money. It's just politics. Every country does it. Most is for humanitarian needs and some goes to the deficit. It's no different than when Hurricane Katrina whipped out New Orleans. Many countries contributed to that disaster relief. It is a GREAT sign that countries are loaning Iraq money. It means that they have confidence in Iraq's ability to repair it.
D.K.C. May 3, 2015 at 10:58pm
WOW Zap is pretty bold tonight!!! I pray he is right!!!!
THE ADVENT OF THE RV IS PURPORTED TO BE TODAY. IF SO, THEN THE BANKS WILL BEGIN THE EXCHANGES, AND OF COURSE ALL THE PRIVATE STUFF WILL BE DONE NOW. THE CURRENT RUMORS OUT THERE SPEAK TO AN RV VALUE OF OVER $4 A DINAR. EXTRAORDINARY.
I DO KNOW THAT MANY THINGS ARE SCHEDULED FOR THIS MONTH, BUT THIS RUMOR OF AN IMMEDIATE RV SURPRISED ME, AS MY INTELLIGENCE PUTS IT A BIT LATER THIS MONTH, NOT TODAY. WE WILL SEE I GUESS.
Awake-in-3D: > So ZAP says the Word he got is "advent of the RV is today, if so banks begin exchanges this week"... and he's surprised at this news. Ok, let's see. I WANT TO BELIEVE! :)
RJ: May 3, 2015 at 10:56pm From Dinar Chronicles
Intel SITREP from Deep Source(s) for May 3
SITREP (Situation Report)
5-3-15 9:45 PM EST
Deep Source #1:
"Michael Cottrell has been told by the Chinese Dragon Family that there is a checklist and a schedule. Michael does not know what the contents are in this schedule, but he personally thinks the schedule will be activated before Memorial Day. The Chinese Dragon Family have not told this to him directly, it is his own guess."
Note from Deep Source(s):
"Please note: Intel that is being provided from us to you is indeed accurate but completely raw and does have a tendency to not follow through. There is no denying that we are all in frustration and loss of patience. It is entirely a fact that intel being provided is real, but there are constant on-going activities that change the situation. This is agonizing but you mustn't lose hope. Nothing lasts forever."
another mailman : I have a feeling that most of the budget for Iraq in 2015 will be operational and many of the projects will wait until next year. I'm Ok with that as all I care about is a rate change and a quick exodus from dinar land! Soon!
Bluedog: IMO A GREAT DEAL OF PROJECTS HAVE ALREADY BEEN STARTED ...... HAMBURGER TODAY FOR PAYMENT NEXT TUES ........... AND INVESTORS WILL WAIT FOR PAYMENTS CAUSE THEY KNOW THE POTENTIAL ENDING ......Bluedog
OF COURSE MORE AND NEW PROJECTS ON THERE WAY
Bluedog » May 4th, 2015, 3:45 am Dinar exchange rate against the dollar on Monday
Iraqi dinar exchange rate against the US dollar on Monday in Iraqi banks and markets:
US $ 1 = 1,164.7000 Iraqi dinars
1 Iraqi dinars = US $ 0.0009
Bluedog: PUTTING A DAILY EXCHANGE RATE IN NEWS LATELY I HAVE SEEN THIS MORE AND MORE..... WHY? IRAQIS KNOW THE RATE... ARE THEY HINTING THAT CITIZENS SHOULD CHECK THE CBI AND LOOK FOR CHANGE? ........OH ITS BEEN LISTED BUT NOT QUITE THIS WAY.............Bluedog
Backdoc: » May 3rd, 2015, 10:51 pm GREAT ARTICLE!!
SOUNDS FAMILIAR DOESN'T IT?
Thunderhawk » May 3rd, 2015, 10:35 pm
VIETNAM: Finance Ministry to issue bond-for-debt swap
The Ministry of Finance (MoF) has asked the Government of Viet Nam to issue new Government bonds in the international capital markets for debt rescheduling.
MoF asks the Government of Viet Nam to issue new Government bonds in the international capital markets for debt rescheduling.-Photo Vietstock.vn
MoF Deputy Do Hoang Anh Tuan said at the Government's regular meeting on April 25 that a draft resolution for the issuance during the period 2016 to 2020 period had been submitted to Prime Minister Nguyen Tan Dung for his approval.
Tuan said the bond-for-debt swap would raise funds for developing the country's economy, implement key projects and restructure foreign debt.
He added that the issuance would not exceed 65 per cent of the GDP or the debt ceiling during the next five years.
The Minister-Chairman of the Government Office, Nguyen Van Nen, said the bond-for-debt swap was a normal operation, adding it would restructure debts in a sustainable and more efficient way.
Late in 2014, the Minister of Finance Dinh Tien Dung had told local media that Viet Nam would issue more ten-year G-bonds, worth $1 billion, in the international market.
Fitch and Standard & Poor's currently rate Viet Nam at B+ and BB- levels respectively, along with a stable economic outlook. Moody's had upgraded its rating on Viet Nam's senior unsecured bonds to B1 from B2, citing macroeconomic stability and a strengthening in the balance of payments and external payments position of the country.
Thus, owing to better economic prospects, VN can swap its debts with lower interest.
MoF said the issuance of $1 billion last November, the third time for this type, had helped save $32.5 million in interest for a decade with the fixed interest rate at 4.8 per cent.
The ministry said interest in similar bonds in 2005 and 2010 was pegged at 6.875 per cent and 6.755 per cent respectively.
Backdoc: HOLY WHITE HOT SMOKE BACKMAN!!
GUESS WHO ALSO HAS A LIQUIDITY PROBLEM !!!
NO WONDER MY FRIENDS CANT BUY IT AT THE BANKS ANYMORE.
ThunderHawk: VIETNAM: Time to act
Mr. Changyong Rhee, Director of the Asia and Pacific Department at the IMF, tells VET that liquidity conditions in the banking sector need to be addressed soon.
The International Monetary Fund’s (IMF) World Economic Outlook has indicated that Vietnam’s GDP growth will be 6.0 per cent this year and 5.8 per cent in 2016. What do you think about the country’s overall growth prospects?
I think we are focused on Vietnam having a growth rate over the next two years of 6.0 per cent and 5.8 per cent, which are very similar to last year’s result. Vietnam saw very high growth decades ago but had a structural problem even before the global financial crisis, with non-performing loans (NPLs) and large investment and high leverage.
After that, Vietnam introduced structural reforms and made good progress, so the situation has been much better. But still, we think that Vietnam needs to address its NPL problem and the capital adequacy of the banking sector has much improved, but that’s a kind of weakness. This is why Vietnam’s growth rate is not actually picking up as before. And at the same time, as you know, Vietnam’s economy is relying a great deal on exporting to advanced economies and also on exports to China, and the Chinese economy is slowing down.
Still, the fact that Vietnam’s growth rate has improved recently and also maintained its current level is, I think, a good sign that past structural reform efforts have borne fruit. I think they have to continue. But the structural problem of addressing liquidity conditions in the banking sector has to be addressed as soon as possible.
What are your thoughts on public debt in Vietnam?
Fiscal policy in Vietnam has been accommodated and public debt is, therefore, rising, and we have been consistently recommending that returning to a fiscal policy of consolidation is good for Vietnam. Raising revenues will be especially important for this consolidation while still being able to safeguard the priorities and social and capital expenditure. So this is an issue that Vietnam will address.
What should be done to deal with public debt in Vietnam?
I wouldn’t give Vietnam’s public debt a negative evaluation.
I think after the asset management company was set, what has been done so far is, I think, a positive outcome. I would rather not say that it is really not working. I would say that it has worked, but not as fast as we desire. So the real issue is that there are two ways of disposing of NPLs. You can use a lot of public money and clean up a bank and then do a jump start.
But the disadvantage of that approach is that your public debt will increase in one shot quite significantly. Given the large public debt problem, that may cause several other problems. If you do it gradually then there is a risk that if the external economic conditions worsen then actually you will not see much progress on NPLs, which, actually, is what we are observing at this moment.
So it’s a matter of whether you take a gradual approach or a one-shot approach, depending on your public debt situation and the willingness of the people. Because you will probably need to raise taxes to do this, so there is a tradeoff. It’s a policy choice. So far, economic authorities have decided to take a gradual approach, but you may be able to accelerate the approach depending on whether the economy can afford more taxes to clean up these things, but that is a policy choice.