Post From Wealthwatch.world Chat Room 8-5-15
Wealthwatch Evening Member Chat 8-5-15 Part 2 of 2
chattels: BAGHDAD — Three car bombs killed scores of people in separate explosions in different parts of Baghdad Wednesday. “Two car bombs went off in Sadr City in eastern Baghdad killing and injuring around 30 people,” said Rudaw’s Baghdad correspondent Bahman Hassan.
“Another car loaded with explosives detonated in the north of Baghdad in the Husseiniyah area, killing and injuring 10 people,” added Hassan. “The security forces defused an improvised explosive device (IED) and a car bomb in the Sayidiyah area and the Jamiah neighborhood.”
chattels: rudaw.net/english/middlee... http://rudaw.net/english/middleeast/iraq/050820151
chattels: Baghdad is a war zone.
chattels: Fallujah is less than fifty miles from Baghdad.
chattels: Anbar governate is not the " outback " of Iraq. There are serious security issues afflicting the GOI. I have said this for some time now.
chattels: "Iraq is going through financial distress unprecedented, could lead to the collapse of most banks in the country, which has lost a large part of its capital as a result of the projects stop, large loans and small," explaining that "the contractors and calling for Iraq to pay owed debt to government ministries and agencies Two years ago ".
chattels: "Iraq is going through financial distress unprecedented, ...................... "
MzDiva: ‹@chattels› do you feel they will ever present a rate for the 2016
chattels: Add to the foregoing the political and legislative gridlock and what is there that bespeaks some immediacy to our desired liquidity event ?
chattels: Other than wishful thinking ?
chattels: ‹@MzDiva› Say more please ?
MzDiva: ‹@chattels› umm how much more
MzDiva: im just curious to know how much longer do you think we will be waitin on the CBI
MzDiva: ‹@chattels› and also whose to say that a rate change will ever come to be
MzDiva: stop me at anytime lol
chattels: ‹@MzDiva› I wish that I could make an informed reply to your question,
but I cannot.
chattels: You are asking for a date as i read and understand your question. Who can know the answer ?
chattels: ‹@MzDiva› :)
chattels: I still believe and hope for sooner rather than later, but I cannot espouse a time frame or initial value to that event.
chattels: And anyone who does so is, IMO, deceiving themselves or you.
chattels: This is obviously a long term and uncertain event.
MzDiva: ‹@chattels› ‹@chattels› I appreciate you thank you so much i didnt mean to make it sound like i was tryin to get an exact date i totally understand no one really knows
chattels: I Iraq had unilateral contol of the value of their currency I believe that they would declare a greater value to their currency, but that value has to be acceptable to the world and indexed to reality.
chattels: I = If *
MzDiva: ‹@chattels› im sure we will soon see all this unfold its just taking sometime to come down the turnpike
chattels: If I had " x" buying power and not enough currency to buy what I wanted and could declare what I had to be worth more so that I could pay more of my debt or buy more of what I needed than I might do so, but who would accept such a self serving declaration of value ?
Fit2beFit: Any talk about this article today, ..... Governor of the Central Bank of Iraq - Financial crisis: devaluation of the Iraqi dinar is it the solution?
chattels: ‹@Fit2beFit› OOTW has a thread on that article in the forum
chattels: ‹@Fit2beFit› wealthwatch.world/showthr...
Fit2beFit: How do I find it, are thier comments about it?
Fit2beFit: I see article, but not comments or talk about it
chattels: ‹@Fit2beFit› Link ^^^^^^^^^^^^^ with comments I think.
Fit2beFit: OOOOH that WAS the big one yesterday, i guess there was another today..THANKS
chattels: ‹@Fit2beFit› Same article I think and nothing new today that I am aware of
Fit2beFit: ‹@chattels› WHAT ARE YOUR THOUGHST ON IT?
Fit2beFit: They absolutely are talking about a devaluation. is what everyone SEEMS to be stating
MzDiva: ‹@Fit2beFit› call me stupid but devalue means ?
chattels: ‹@Fit2beFit› It appears that on a macroeconomic level that it may be beneficial for Iraq to maintain their currency at less pr lesser "value " is my take / read on it.
Fit2beFit: ‹@MzDiva› "Devaluation" means official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency.
chattels: pr = or *
MzDiva: i know its to reduce
MzDiva: ‹@Fit2beFit› oh okay thanks
BOBBY: Chattels. .... do you mean.... a reality rate lol
chattels: experts / economist may differ, and there are no experts here that I am aware of -
chattels: OOTW is simply reporting the news
Fit2beFit: ‹@chattels› oh how I would love to comment on that...lol
Fit2beFit: but wont
chattels: What does it mean for us in the near / longer term ?
Fit2beFit: a new car, clothes, house......
RVPlease: Maybe thats why the 50K notes are coming out... if they devalue the currency 30%... they will definately need larger notes...
chattels: In the near term it seems to me, a confessed macroeconomis moron that the curency that we hold will not be excheagable for greater value, but less.
chattels: ‹@RVPlease› entirely possible
Fit2beFit: ‹@chattels› oh i hope not
RVPlease: scares me to death
RVPlease: it has.... for months..since this was first brought out
RVPlease: It makes no sense to spend all of that money... making a 50K note... which wont be needed if they revalue... but the other way around.. they will need it
chattels: ‹@BOBBY› " reality rate " as coined by one dinar pundit seems to have little connection with any reality that I can relate to
Fit2beFit: .50 and i would be tickled this color
BOBBY: Chattels...... was being ironic lol
chattels: there is no certainty that the currency that we hold will be more valuable in our lifetime
Winnerdinar: Just a quick note I am merging all Maliki threads together
chattels: ‹@BOBBY› i know :)
Fit2beFit: ‹@chattels› :sad: :sad: :sad:
Winnerdinar: wealthwatch.world/showthr... http://wealthwatch.world/showthread.php?tid=1271
Winnerdinar: There will be a lot of movement of post -im attempting to clean the forum up for OOTW
chattels: great reward comes with great risk, PERIOD !
chattels: nothing new under the sun there
BOBBY: Chattels. ... question for you...... with the state of corruption, security problems, Maliki etc, do you believe they could begin to handle and sustain a rate increase?
chattels: I do not despair nor is it my intention to be negative, but there is a certain reality to all of this that we cannot ignore
chattels: ‹@BOBBY› It is possible if for no other reason than I do not think that we have all of the information and we will not have information that will allow us to anticipate a favorable rate change - it is supposed to be non - transparent
chattels: it is a national secret
chattels: in , to and for Iraq
BOBBY: Chattels.... let me put it another way , if this was a house being built, do you believe the foundation is solid enough?
chattels: ‹@BOBBY› it has the potential, but the when of it all is the abiding question I think
BOBBY: I would agree and thank you for your assessment
chattels: from an asset allocation perspective in an " investment " portfolio this speculation should be a small percentage of one's liquidity
chattels: if one chooses otherwise out of necessity or belief then live with the consequences of that decision - no whining !
chattels: we are all her because we have already invested - no one here is urging anyone to invest more
chattels: we have no " stake " in / with a dinar broker
chattels: we are all similarly situated
chattels: i want what you want, but i can not and will not say what i do not believe nor am i responsible for anyone other than myself
BOBBY: Chattels... is this "devalue " in motion or just being talked about?
chattels: ‹@BOBBY› Hard to say whether or what Allaq believes or advocates is / will be the policy of the either the CBI or the GOI
chattels: He is a Maliki proxy with unknown support I think
BOBBY: Chattels.... well you just answered my next question...
chattels: ‹@BOBBY› How are you doing ?
chattels: You Ok ?
chattels: This undertaking has a way of taking on a life of it's own, eh ?
chattels: Dreams should not become our master.
BOBBY: Having knee surgery next week...... not use to being home all the time lol
chattels: ‹@BOBBY› dangererous :)
chattels: knee replacement or surgical repair ?
chattels: I have a history of bad knees
BOBBY: Repair this time...
chattels: good luck with it
chattels: We may have already had this discussion and if so then forgive me.
BOBBY: No problem. .. will look good on Recaps lol
chattels: ‹@BOBBY› We get an awful lot of coverage there, eh ?
BOBBY: Chattels. .. all we need is bank stories lol
BOBBY: Chattels .. i love the bank stories