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About Rabbi

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  1. What the CBI really needs to do is to end the auctions!! That'll cause an instantaneous increase in the demand for the dinar. From the supply-demand graph in Economics 101: An increase in the demand for an item, while supply remains constant, results in a corresponding increase in the price of that item. In the case of the IQD, that "price" is it's exchange rate against the other currencies. So, an instantaneous increase in the demand for the IQD will result in an instantaneous increase in the exchange rate of the IQD. There's your RV!!!!
  2. As I suspected, the headline and earlier interpretations of this article were incorrect. $115 BILLION coming from the US? Yeah...right...The Congress is getting ready to pass a completely unnecessary tax cut for the wealthy. Oh, (and you'll never hear this on Fox News) they're gonna be paying for it by cutting everybody's Social Security, Medicare and Medicaid down the road when, all of a sudden, the Republicans in Congress flip-flop into deficit hawks. But I digress. My point is that there is certainly nothing in the budget for an extra $115 Billion for Iraq. Now a grant of $115 million
  3. OMG...this article has been up for 14 hours, and I'm the first reply? But I digress. It's obvious that this country needs a massive infusion of capital to rebuild. What's not so obvious is the realization that their is soooooo much value in the country now. They've got trillions of $$$ in just their confirmed oil supply. Their's probably just as much value in their natural gas supply, which they have recently started to monetize. There's many more natural resources, including gold and diamond. And let's not forget the fact that there is trillions of dollars worth of developed real esta
  4. Let's see...just from the first and second files, above, that's $246 billion to be recovered by the GOI. That certainly would pay off their debts they've accumulated over the last few years...and then some. As far as the third and fourth issues, the amounts to be recovered could even exceed this amount. Add this to the article the other day regarding opportunities to create a public-private sector joint venture, it's apparent to me that reserves of the GOI could soon dwarf those of the CBI. Healthier finances of the GOI translate into a more robust dinar, which is what we all want. The su
  5. This is just one instance of the GOI's desire to create a joint venture with investors from the private sector. Because of all the corruption, the GOI has a large number of dormant projects that were halted because of lack of funding. The stated goal of the GOI is to eventually privatize all of these heretofore unproductive "businesses" in their transition from a dictatorship to a full-fledged parliamentary democracy. The GOI's share of the profits from ventures like the one mentioned in the article, as well as the monies received from the eventual outright sale of their remaining interests
  6. Not wanting to be a Debbie Downer here, but with 40 trillion IQD still outstanding, I just don't see them coming out at a new rate of $1/IQD...or even at $.86. Yes, I know we have the April 2012 SIGR report stating that Iraq planned to re-value the IQD to "slightly less than a dollar," and we reportedly have the Ministry of Planning Memorandum of Understanding Feasibility Study talking about $1.134 dollar per dinar (sorry, people, but when that MOP document came out, I distinctly remember it stating a value of 1.134 dinars per dollar, i.e., $.88/dinar). However, those two documents came out
  7. There's nothing in this article to indicate that the shipping of IQD in amounts exceeding 200,000 is not allowed. The requirement is that IQD in excess of this amount must be DECLARED! If a dinar dealer here in the States makes a lawful purchase of IQD from the CBI or some Iraqi money-transfer company, those IQD will still be shipped to the US. It's just that the purchaser and seller must declare the funds and the details of the transactions.
  8. This article is NOT saying that this money was taken from the banks just before being liberated! The $101 million and the 856 billion dinars (equivalent to another $72.3 MILLION) is the amount that was seized by Daesh when they took over the territory in Anbar, Nineveh, etc. back in 2014. Surely, that $856 billion in IQDs has long been spent over the last three years (and back in the CBI's treasury) in ISIS' hopeless attempt at a land grab from Iraq. But just to be sure, the GOI is cleaning out the remaining strongholds of Daesh in Tal Afar, Hawija, and out along the border with Syria. In
  9. Everybody has to understand that the currency auctions will continue after any RV. However, their nature will completely change post-RV. Currently, the CBI is selling USD (and taking in IQD), because the IQD does not have a value that is acceptable to banks outside of Iraq, and therefore, all goods imported to Iraq must be paid for with USD. The effect of this activity has been that the foreign currency reserves of the CBI are being depleted. In essence, the CBI is buying back IQD (at the program rate) and thus reducing both the note count and the amount of IQD in the economy. The less IQ
  10. OK, everybody, take a deep breath. I am a tax professional. In order for Section 987 to be applicable, a taxpayer must, first and foremost, be engaged in what is termed a "Section 987 transaction," which in simple terms involves the buying and selling of financial instruments the are stated in terms of a foreign currency. This particular Code Section applies to individuals and entities who are in "the trade or business" of regularly engaging in foreign currency transaction, e.g., futures contracts, long-term loans,accounts receivable or payable stated in a foreign currency. The straight-u
  11. Now the next step is sending it back to the CoM to incorporate the proposed amendments.
  12. I wonder if Abadi saw this attempt from Maliki to oust him. He's already succeeding at eroding the confidence in Abadi by getting his top Ministers ousted, and now he's attempting this gambit as a way to cancel the results of the 2014 election altogether. Christ -- or Allah or Buddha or whatever -- almighty, it's time to bring up on charges on Maliki. If the $800 billion of embezzled funds outside of Iraq have been found, surely the forensic bean counters have also found that a lot of the graft leads back to Maliki. How much evidence is enough?
  13. I'll tell you one thing...Maliki and the SOL are using this Article to their advantage. The fact that so many MPs never attend Parliament sessions allow Maliki and his SOL cronies to be able to have a simple majority when it comes to the actual vote. Minister by minister, Maliki and his SOL cronies are eroding Abadi's Cabinet, setting him up for a vote of no-confidence. It's time to drop the hammer on Maliki!
  14. I don't read anything in this article that comes close to annexing Iraq. Annexing is what Putin did to the Crimea, which is an act of war. This cleric, IMO, is talking about integrating Iranian and Iraqi societies together.
  15. That's only $860,000 worth of dinar at the official rate of 1182. At the street rate of 1280, it's only $781,250 It'll be spent in a week or two max!
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