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SWFloridaGuy

By SWFloridaGuy,
in Dinar Rumors

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UNEEK Newbie

UNEEK

Posted
Posted

6-8-2012 SWFloridaGuy: We are hearing a lot of speculation regarding Iraq's accession to the WTO, after the release of several conflicting articles. This is a complex process and the WTO is currently negotiating their terms with Iraq. WTO membership is considered on an individual, case-specific basis. There are private requirements and stipulations in addition to the basic, general guidelines we see in print. Iraq has to lay out all their economic and trade policies that relate to WTO agreements. When Iraq submits this memorandum a panel will consider the application. When the principles and policies are in place, additional negotiations will commence between Iraq and other countries. Once the terms are finalized, they are submitted to the WTO's General Council. If two-thirds of the members vote in favor, than Iraq may accede to the WTO. So, as you can see, it's not a simple process. To convolute matters, since Iraq's plan is to dedollarize and not continue using the USD as their primary currency, they need to make the IQD a convertible one as accession stipulates. Other than seeing WTO accession as general progress for Iraq, this issue in particular (convertible currency) is something we as Dinarians find may have some applicability.

Thanks for the post SWFG - this type of information, while still somewhat complex; is a little easier for me to discern and digest - I am learning gradually but do not plan to be a political or economic scholar thank goodness --

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SWFloridaGuy Newbie

SWFloridaGuy

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Thanks for the post SWFG - this type of information, while still somewhat complex; is a little easier for me to discern and digest - I am learning gradually but do not plan to be a political or economic scholar thank goodness --

Hey I hear ya UNEEK. I could spend the rest of my life studying macroeconomics and geopolitics & still not have a firm grasp of it. This is a learning process for us all. We can't expect to be experts after only a couple years researching this. Still though... we do our best to speculate. :)

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UNEEK Newbie

UNEEK

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Roadrunner -- thank you for your time and efforts to contribute to the thread - the info was helpful in giving me a bigger picture of what a complex process this is - The info was understandable - the process is what's so complex -- Hopefully we will see some real progress soon -

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snooz Newbie

snooz

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With you being in Afghanistan you have a great perspective on what's going on in the M.E. Thanks.

Hey there Snooz. Yes, great point. That is one of many stipulations. They vary between countries but one thing I've found consistent with most is they must have a convertible currency. Tax and duty laws are also very important. There's no way of knowing for sure everything that is required in Iraq's case. This is where the speculation comes into play. The closest we can get is to look at other member countries and what was required of them. Great post.

If you remember well at around April or May of this year, Iraq tried to implement Draft, custom and tax law !!?? They finaly had to pospone it, remember....Thats the reason, they have to be part of the wto first !!! :D Just saying... ;) But again, like you said earlier, they must be missing something else and it could be the currency !! Great post SWFG ;):)

SnooZ

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sandyf Newbie

sandyf

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SWF, I hear you, but how is China in the WTO without a convertible currency?

Myanmar is a full WTO member with an article 14 currency.

Iraq has never been an Article 8 currency so it has never had an international value, if you believe the hype.

That being the case it can never go back to something it never was.

Countries like Myanmar and China normally trade internationally in the dollar, So why not Iraq.

Recently China has been making agreements with countries on an individual basis to trade in the Yuan.

Like it or not the days of dollar supremacy are numbered.

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NWGUY Grand Master

NWGUY

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Bravo! That was a well reasoned and very well laid out opinion that IMHO should be well received by all but the bottom feeder gurus, their mindless followers and the just plain coldhearted greedy b@$t@rds who only care about making a quick buck through the RV. :bravo:/>

:lol::lol::lol:

I am looking to make a quick buck through the RV!!!!

Big problem......been waiting a longtime!!!

Now into the Long Term Investment Catagory......Don't tell the IRS though. :lol::lol::lol:

Go RV!!!

:lol::lol::lol:

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fastarnie Newbie

fastarnie

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This thread is awesome....this is great for anyone just getting to know about the Dinar. Where were guys three years ago?

Three years ago the names changed, but the information was here........lol :lol:/>

I bought in 6/09, and stalked this site, and one other ultimately joining this one. I have learned so much about so much it is absolutely crazy. :)

Edited by fastarnie
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Redhorse Newbie

Redhorse

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I am finding it harder every day to believe that we as investors will

Benefit from all this. There is always some new shim sham keeping

The RV from happening. Sounds like snake oil is on sale. This Iraqi

Government is corrupt and I think you have to fix that first. Just my

Humble opinion .

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