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About MrFnHappy

  • Birthday August 8

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    it's hot here

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  1. Of course, I could be wrong, but I believe you are reading this the wrong way. How I'm reading it is that the market, or street rate has worsened to the point that in order to obtain $100 US on the street, the cost is up to 10,000 dinar more than the official exchange rate.
  2. While I am unable to indentify the species this dung comes from, it is most definitely dung...
  3. Correct Frog, those who have a low fixed rate mortgage have no worries. Many years ago I was a mortgage broker and dabbled in investment properties. Low rate ARMs were my friend, but only because I knew they would be paid inside of 12 months on properties I intended to sell ASAP. ARMs are typically bad news for those who can only afford a primary home because of the ARM rate. MANY current foreclosures are due to ARMs going up and making the mortgagee unable to make the higher payments.
  4. While it may be fascinating, I also find it quite sad...
  5. The SDR is valued based on a basket of currencies (the major portion of the basket is USD). 1 SDR is currently approx $1.50 US
  6. 1950 - 1990 In 1956 the National Bank of Iraq became the Central Bank of Iraq. Its responsibilities included the issuing and the management of currency, control over foreign exchange transactions, and the regulation and supervision of the banking system. It kept accounts for the government, and it handled government loans. Over the years, legislation has considerably enlarged the Central Bank's authority. In 1959 the peg was switched from the British pound to the United States dollar at the rate of 1 dinar = 2.8 dollars. The peg has not changed since 1959
  7. If you want to make money in Iraq, this is one of the places you can....stock in Iraqi telecommunications...although the article points out that several companies have not met certain stock requirements, I'm sure pressure will be brought to bear on those in non-compliance.
  8. Jordanian banks come to mind immediately. Further, it doesn't matter if the dinar revalues to those who embezzled. Just doing the rough math, on average, they walked away with $25 MILLION USD each.
  9. Hi, I can"t access my profile...says I don't have permission and I don't have access...Help!!
  10. So do the math here $15 trillion in proven oil reserves used as 15 percent of total currency reserves = $100 trillion dollars of backing the IQD ...maybe I'm missing something here, but the math isn't making sense to me. Disclaimer; I have been drinking <hiccup>
  11. Good news, bad news if accurate. Good news, no redenomination or lop any time soon. Bad news, no huge increase in value any time soon. But wait...maybe good (?) news....the article mentions Shabibi, so I think its old.
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