_[kaperoni] I want to bring out two articles today. This was the just of the call last night.
[kaperoni] Interview with Dr. MP. Haider al-Abadi - Date: Tue 03/01/2012 2:12
[kaperoni] He makes it very clear in this Q & A article, that there is a law that must be passed prior to the RV from happening.
[kaperoni] I want to explain this first.
[kaperoni] You see all Iraqi citizens who take loans, or mortgages etc, have contracts written in the current dinar exchnage rate. So for instance, if you buy a house for say..50,000,000 (50 million dinar), once the RV happen, at whatever the new exchange rate is, this amount must be rectified or change to reflect the new rate. Otherwise, there is no way at the new rate the borrower would ever pay this off…lol Make sense? So as an example…if the new exchange rate is 1 to $1 the loan would be adjusted to 50,000 dinar.
[kaperoni] Now this law is a must before the RV can happen. This effect every citizen who has a legal contract for anything such as houses, cars, business loans etc. Here is the quote…
Read More Link on Right
_ “Q --The process of deleting the zeros and the replacement of the currency you need a parliamentary resolution?”
[kaperoni] “A - The process of deleting the zeros do not need a parliamentary resolution,”
[kaperoni] “ but it needs to legislation to liquidate the benefits of debt and the other between the dinar, the old and the new dinar and the project in the process of discussion with the Central Bank of Iraq because the process of substitution two-year Tbdoua in 2013 must also adopt the budget in 2013 dinar new, “
[kaperoni] Ok, so there cannot substantial change in dinar exchange rate until this is done. Period.
[kaperoni] One more quick article…
[kaperoni] Is it possible for Iraq to lead the Arab world economically - Tue 03/01/2012 7:12
[kaperoni] “he time has come for decision, and the Iraqi leadership, one choice: either to create an environment suitable for foreign investment, administrative, or accept the slow growth rate of oil production.”
[kaperoni] I think this pretty much sums it up. If Iraq wants more than just oil, they need to move forward soon with the economic changes to invite investment. This is all in the hand of Parliament and Maliki now.
[kaperoni] Three months ago, nobody believed me when i mentioned how the economic laws played a part in this event. Well, it might be time for everyone to go back and read those chats. (The truth and reality of the Iraqi GOI parts 1-4). lol