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wmawhite says If this doesn't get you excited...then...call 911!
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wmawhite says If this doesn't get you excited...then...call 911!
wmawhite
Article: "Iraqi trade talks with Citibank to develop relations"
Quote: "...exchanges between Citibank and the Trade Bank of Iraq, as well as lifting the barriers that stand in the way of traffic and movement of money Iraqi around the world)...
" here is a review of earlier news: THE REPORT THE OTHER DAY ON EU LINED UP FOR BASRA AND NOW... Article: "Baghdad confirmed its success in attracting international companies to implement investment projects..."
Combine this with such news as the Citibank/TBI talks and the Bahrain Bank buying up additional shares of the TBI.
If this doesn't get you excited...then...call 911!
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The value of the IQD outside of Iraq (which is the exchange rate/value) has no impact on what Iraq receives from importers who pay the tariffs.
Also, if you are Ahmed and you are to pay 1,000 IQD tax for whatever, the exchange rate/value of the IQD to the Euro or the GBP or USD has no effect upon ahmed's tax because inside Iraq a IQD will always be equal to a IQD.
Let me try to explain this a little better.
If you are importing into Iraq rice, for example, and you owe me, the Minister of Finance, 1 Billion IQD on what you are importing, I don't care what the exchange rate/value is of the IQD.
You as the importer don't care either. All that I am concerned about is that you sent the equivalent value of what the tariff is. I, the Minister of Finance, just wants the tariff paid. You the importer can pay it in gold, silver, Euro, GBP, USD, IQD, etc. Just pay the tariff
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tariffs are a revenue item...same as the selling of oil.
The use of the currency at its true value is only relative to its use outside of the country.
In other words, if the IQD is used outside of the country to settle foreign remittances at its current artificial/imposed value then two things take place;
1) the costs of imported goods remain high, and
2) the CBI runs out of IQD because Iraq has to exchange at a 1,000s of times high amount than there are IQD available to the CBI.
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Article: "Iraqi trade talks with Citibank to develop relations – June 14, 2016" Quote: "as well as lifting the barriers that stand in the way of the constant movement around the world of the Iraqi dinar."
this is Citibank stating...let's lift the barriers... Article: "Bahrain's Ahli United Bank buys shares of TBI" Since 2003, other banks in the region have been buying shares into the TBI...
This bank (Bahrain’s Ahli United Bank) that is located in Bahrain already owned the majority of shares of the Trade Bank of Iraq.
Yet, they apparently believe there is an up-side/an advantage to increasing their control over the TBI.
They increased their shares from 54.7% to 64.7%.
Why?
...this is very interesting news and IMO is an indicator that Iraq’s neighbors are aware of major changes coming soon from within Iraq’s financial institutions.
I have always believed that Iraq’s neighbors have their fingers on the pulse of Iraq and that they will be the first to pounce on these opportunities being created by Iraq.
This move by Bahrain’s Ahli United Bank combined with what Citibank just stated a few days ago ought to have you thinking...this is happening right in front of us...there are no secrets to this...they are announcing to the world as this is happening.
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...Guru Dr. Clark...stated..."Forget about what the IMF indicated “by the 1st half of 2016”. It’s irrelevant..."
Seriously, Dr. Clark? We should...disregard the one entity that has more knowledge about Iraq and the Central Bank of Iraq than any other entity on this planet?
It is reasonable to believe that the IMF, WB (World Bank) and the CBI "KNOW" what is going on with the money policy of Iraq.
MO money supply is what is in circulation. What we hold is NOT in circulation...we can not use what we hold...unlike what is used (in circulation) in Iraq.
...[Guru] Mike's statement assumes ALL of Iraq's currency is outside of Iraq which would be "nuts"...
Also, the currency in Iraq, held by individual Iraqis will not be exchanged...it doesn't matter what its value will be outside of Iraq...that currency inside of Iraq will stay in Iraq and never to exchanged.
Also...the central banks of the world, which will hold the IQD we have after we exchange, hold most of the world's currencies as reserves. They seldom let go of valuable assets, such as other countries' currencies. However, central banks will exchange some currencies for another countries reserve currencies at time.
In other words, we are the only dummies in this investment that continue to think of this investment as a lotto ticket that will be "cashed in" instead of understanding that we hold a currency that will be "EXCHANGED" and held as an asset by a bank somewhere on this planet.
Last edited by Ponee on Sat Jun 25, 2016 11:36 am; edited 12 times in total
Ponee- Admin
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Re: wmawhite says If this doesn't get you excited...then...call 911!
One small problem wmawhite .... all of the currency reform articles in Iraq mention Iraqis exchanging their currency. That's what you do in a redenomination. So yeah, Americans will "exchange" rather than "cash in", but it's an even exchange for us just as it is for Iraqis. Unfortunately we don't have any guarantee of being able to exchange outside of Iraq like people inside of Iraq do.
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Busting Gurus Since 2011
Re: wmawhite says If this doesn't get you excited...then...call 911!
They still have nothing.
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Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
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Re: wmawhite says If this doesn't get you excited...then...call 911!
And still nothing
Ponee- Admin
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Join date : 2011-08-09
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