Jhockey00 : (Late Friday Evening) Good evening everybody, Frank perhaps you or someone else can clarify something for me as i am confused on a few things.
So am I to understand that not until Dr. Shabibi is seated with Alack removed, then Dr.S will lift the 000's. Which also means these reforms especially the Monetary Reform & HCL are picking up speed to happen very quickly.
Which in then points to an RI this year. Which obviously and RI is refering to an In Country Rate would come close to or around 1:1 ratio between IQD & US Dollar. Followed by a RV referring to a International rate.
Also if I'm not mistaking I believe Frank you said In Your Opinion that the rate of the Dinar would need to change prior to Oct.1st or it would be put on a so called Blacklist and set MR(Monetary Reform) way back in the process.
So to sum this up with a question & statement, at the momentum that Abadi is getting these reforms done & news of Iraq's International Bonds maybe being released soon it seems to me that a rate change of some kind is due at the lastest sometime this year and at the earliest some time very soon.
Would that be a very summary of what is going on?
Any details I am missing I do apologize. Thx . Jason,
Frank26: Nope.......... that's pretty close enough.
KTFA Frank ps ..... You're welcome Friend.
Shade: » Frank: in an earlier post of yours, part of what you said was that the RI is for the budget and the RV is for us. Do you mean that the RI will not be an international event that would allow us to exchange if we so choose? Thank you
Frank26: SHADE ........... IMO ............ That phase ...... Only if they allow it to float outside of Iraq.
Time will tell DRS .......... When and What to do with his MR. KTFA Frank
Mike100: my question is why wouldnt they allow the dinar to float outside of Iraq? by not doing so how does that bring confidence to the IQD internationally?
M.Oakes: The companies that have invested in Iraq will be well off if it doesn't float outside of Iraq.
If they are structured correctly they can keep the profits in Iraq and not have to pay taxes until the $ is brought into the US.
It is all for the "Big Boys".
Hopefully the Lord will bless us "Little Boys". That is my prayer.
Alan: » August 22nd, 2015, 8:51 am
So now that we are past Abadi's 1 year anniversary and is there any validity to the articles and lessons here that Maliki can come after him?
Seems like I remember something being said like this.
PAPPA-J : SO IT BEGINS!!!!! DEMONSTRATE OR PROTEST ---- AN EXCUSE IS ALL THAT IS NEEDED FOR VIOLENCE!!!!!!!
SHABBS YOU BETTER GET OFF THE POT, CAUSE YOUR OWN PEOPLE WILL MAKE DAASH LOOK LIKE KINDERGARTNERS.
THEIR FRUSTRATION IS AT BOILING POINT. CAN'T REALLY SAY I BLAME THEM!!!! PJ
Frank26: » August 22nd, 2015, 1:28 am Iraqi Dinar:
The new 25,000 Dinar note without the picture of Saddam Hussein(Getty)
The Iraqi government plans to raise $6bn (£3.8bn) on the bond market in order to bolster its finances.
Baghdad's cash reserves have been depleted by rebuilding costs following the US occupation and the country's raging war with terror outfit ISIS.
According to Bloomberg, Iraq's central bank has enlisted Citigroup, Deutsche Bank and JPMorgan Chase to issue the bonds, the first since 2006 when it raised $2.7bn.
The country, a major oil exporter, has also been hammered by falling oil prices. Oil has fallen to less than half of its value in mid-2014 and analysts believe the price of Brent crude could fall to $30.
To compound matters, the Organisation of Petrol Exporting Countries (OPEC) has refused to cap production and the imminent entrance of Iranian oil onto the market is likely to depress prices further.
Independent analyst Anthony Simons told Bloomberg: "Iraq is going through some difficulties at the moment because of its conflict with IS, but oil production is at a record high. Things could look a lot different if we see a rebound in oil prices."
Iraq's debt stands at about $90bn, roughly 40% of $220bn GDP, although this is increasing.
The first tranche of bonds is expected to be sold in 2015.
Although the Iraqi Dinar has held relatively steady against the US Dollar over the last years, hovering around $0.000860, from November 2014, it has bounced between $0,000832 and 0.000881.
Backdoc: » August 22nd, 2015, 9:01 am
NOW WHY WOULD IRAQ WANT TO SELL BONDS IN DOLLARS PRIOR TO SEPT. 23RD? MMMMM
AHHH THE ANSWER IS THE SAME REASON VIETNAM DID!!!
PAPAJ YOU HAVE THE HONOR SIR!!! DOC
Alan: Is this why?
Nov. 7 (Bloomberg) -- Vietnam sold dollar bonds abroad for the first time in almost five years, seeking to refinance existing obligations after upgrades from Moody’s Investors Service and Fitch Ratings.
Vietnam priced $1 billion of 10-year securities to yield of 4.8 percent, or 2.39 percentage points over similar-maturity U.S. Treasuries, according to data compiled by Bloomberg.
Outstanding notes due in 2016 and 2020, which could be switched into the new issue or tendered for cash, rallied yesterday.
Vietnam is looking to reduce the cost of its dollar borrowings and take advantage of its improving credit profile as an end to monetary easing by the Federal Reserve fuels speculation that U.S. interest rates are headed higher. Fitch this week raised Vietnam’s credit rating by one step to BB-, three levels below investment grade, and said government policies have put the Southeast Asian nation’s economy on a more stable footing. Moody’s upgraded the country in July.
“Investors favor dollar-denominated issues,” Rajeev De Mello, who manages $10 billion as head of Asian fixed-income at Schroder Investment Management Ltd. in Singapore, said by phone. “The search for yield is still there. We haven’t seen Vietnam for a while in the market. The macro situation in Vietnam has stabilized. All those factors will be good for this issue.”
The Moody’s upgrade was the rating company’s first for Vietnam since 2005. State-owned Vietnam Shipbuilding Industry Group defaulted on a $600 million internationally syndicated loan in 2010, prompting concern over the stability of the country’s banking system. The government is targeting economic growth of 5.8 percent in 2014 that would be the fastest in three years.
Vietnam’s tender cash offer for existing securities was $1,070 for every $1,000 of 2016 bonds held, and $1,140 per $1,000 of 2020 notes, according to a statement from PR Newswire. Lead arrangers for the refinancing are HSBC Holdings Plc, Deutsche Bank AG and Standard Chartered Plc.
Bluedog: WEALTH CREATES CORRUPTION ...................... NO OTHER COUNTRY'S CONTROL YOUR WEALTH DO THEY NOW ...... (See Article Below)
SURROUNDING COUNTRY'S DO NOT NEED OIL DO THEY BUT OTHERS TRY TO GET THERE OIL AS US AND EURO AND CHINA .......
IRAN HAS INFLUENCE BUT ABADI IS TAKING CARE OF THIS RIGHT NOW ....... YOUR OWN STABILITY COMES INTO PLAY .....IT IS IN PLAY RIGHT NOW ... IMO............... Bluedog
Research Center: neighboring countries cause instability of the Iraqi economy
The director of Center for Market Research and Consumer Protection Salim al-Bayati, the Iraqi economy is stable and is controlled since 2003.
He said al-Bayati said in an interview (independent press), that the Iraqi market need of foreign trade and the organization to arrange the economic structure after coordination between the ministries and institutions to supervise the import process, whether the Ministry of Trade Finance Aomash of Emark, especially since some Badhaia Almistodh from neighboring countries to play a role not Iraqi market and economic stability.
And between, the import third-party organizer from foreign countries and Iraq's neighbors, cause economic chaos, stressing that takes the private sector role as an important and vital it needs to be a real efficiencies because most traders importing goods to achieve profitability regardless of compliance with health standards and human damage.