9-7-2012 Dinar Doctor: Iraq does have "fixed books". The cbi financial statements do not reflect two out of the four cbi branches. There is no way to determine the true (audited by Ernest and young) financial position.
Maybe the foreign reserves of all the branches is truly 70 bln use, but I think Iraq's assets total much more. The krg received a three to one exchange for the issue of the dinars we currently hold. I believe that the cbi branches in the north have significantly more assets we are unaware of.
That is why I believe the erbil agreement is so important. The consolidation of the cbi financial statements will be the only true picture of the assets the cbi uses to justify a rate appreciation.
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It will pop on us when erbil becomes effective, then sometime after Ernest and young will audit with an unqualified option. Currently Ernest and young express a qualified opinion recognizing the absence of two of four FBI branches financial data and an unclear dfi total.
All parties will appear to present the data with integrity due to the qualified opinion. Doesn't everyone see this? Reputable auditors are recognizing this fact. I anticipate a three or four times gain on our investment.
I believe an erbil agreement is truly the key. It will unify northern Iraq with baghada and we want this. Obviously there are contentions among the interested parties so we wait until they can make compromises and agree on a future united Iraq (including money with kurdish language hint hint, at the importance of unifying assets). Glta and fingers crossed.
9-7-2012 Puckster_Guy: To get this historic rise in value we had an equally historic devaluation. So an rv isn't really such a stretch. it's more an issue of when rather then if. Many rich families (that were not aligned with any factions)lost all their family wealth with a stroke of a pen,overnight. i'm sure they were promised their money back one way or another. We just latched onto something we may not or should not have been privvy to. TG for the internet, it may well save humanity.
9-7-2012 Sandstorm: Our best odds are if deleting the three zeroes is continually pushed back. We need to see Iraq's economy triple and maybe 10 fold the GDP. As that happens significant incremental value can be added. then lower denoms will enter as needed.
Our problem is, Iraq's still at an infant state, isolated state. We need three to 5 solid years of peace and maximum economic growth, and thats when we can cash out. This puppy has to learn to walk before it can run. My view is release of Chapter 7 and passing the HCL, is like a kid riding a bike, without training wheels, for the first time. That will open the economic global market as well as settle dispute over oil revenues. which is a great beginning.
Then as Iraq's economy takes off, the value of the dinar will climb. I think they can get their really fast, they just have to get on the bike first.
9-7-2012 Chattels: "Next meeting over choosing one of the three oil and gas bills will be held next week.The first oil and gas bill introduced in 2007 was suspended due to lack of political consensus.
A second one has been proposed by the oil and gas committee and the third one by deputy prime minister for energy affairs, Hussein Shahrestani in 2011.
The committee will meet for the second time for mulling over more details and the suggestions. All the parties insist that Iraq should have its oil and gas law the soonest.
All have also agreed that the 2007 bill become the basis for the law because the Erbil and Baghdad governments both agreed to it."