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Exclusive - Iraq seeks credit rating before jumbo bond issue


k98nights
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Vietnam has a credit rating (BB-) and we all know that the Dong isn't worth jack.  Here is a link...http://www.tradingeconomics.com/vietnam/rating

 

Based on this fact, and not opinion, I don't see how applying for a credit rating or even getting a credit rating has anything to do with an RV.  

 

Can someone prove me wrong?  Seriously, for everyone's sake, including myself, I hope that I am wrong but in light of Vietnam's credit rating, I just don't see it.

Dr J

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Vietnam has a credit rating (BB-) and we all know that the Dong isn't worth jack.  Here is a link...http://www.tradingeconomics.com/vietnam/rating

 

Based on this fact, and not opinion, I don't see how applying for a credit rating or even getting a credit rating has anything to do with an RV.  

 

Can someone prove me wrong?  Seriously, for everyone's sake, including myself, I hope that I am wrong but in light of Vietnam's credit rating, I just don't see it.

Dr J

You make a good point.

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So....We're not going to see Buzzy eat his shorts? Darn!

 

hehehe :D

Vietnam has a credit rating (BB-) and we all know that the Dong isn't worth jack.  Here is a link...http://www.tradingeconomics.com/vietnam/rating

 

Based on this fact, and not opinion, I don't see how applying for a credit rating or even getting a credit rating has anything to do with an RV.  

 

Can someone prove me wrong?  Seriously, for everyone's sake, including myself, I hope that I am wrong but in light of Vietnam's credit rating, I just don't see it.

Dr J

 

 

When was the VND worth 3:1 vs the USD, and when did Vietnam have a majority of the world's black gold?

 

#urwelcome

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Just waiting on Iraq right now. In the meantime, I am sending out this:

 

Did you catch that news yesterday?

Iraq is applying for a credit RATING. Why would they do that
if they didn't think they would get a good result?

The answer is obvious - they would not!

In fact, this could be the reason they have stalled on finalizing
the HCL... because with an official credit rating and a solid
Law on their oil and gas, an RV is a no brainer.

This is the kind of move that puts Iraq in it for the long
haul, friends!

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Use the discount code "rating" for a massive $113.99 discount
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hehehe :D

 

 

When was the VND worth 3:1 vs the USD, and when did Vietnam have a majority of the world's black gold?

 

#urwelcome

 

Great point!  Thank you, Adam, that's just what I needed to hear.  Also, we all know that Iraq is LOADED with other minerals and precious metals besides oil.   Top it off with all of the gold that they have in reserve and...

 

OK, I feel better now and I am happy to stand corrected!

 

Dr J 

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If these bonds are in IQD then you can put your IQD back in the shoebox for a long time, no way CBI will RV when GOI has bonds to pay off. 

 

They'll do like all other govts do, devalue their currency and pay off bonds with devalued currency, well known trick all govts do.

Of course issuing bonds for deficit financing means no RV either.
 

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If these bonds are in IQD then you can put your IQD back in the shoebox for a long time, no way CBI will RV when GOI has bonds to pay off. 

 

They'll do like all other govts do, devalue their currency and pay off bonds with devalued currency, well known trick all govts do.

Of course issuing bonds for deficit financing means no RV either.

 

They will be issued in USD.

 

Proposal to launch a Government bond debt in dollars

 

.

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They will be issued in USD.

 

Proposal to launch a Government bond debt in dollars

 

.

Then it doesn't affect IQD at all, certainly doesn't mean RV.

 

And it proves Iraq will keep using USD in foreign banking & trade for a long time.  Foreign buyers of Iraq bonds want USD repayment not IQD.  They won't touch Iraq bonds if there is any possibility Iraq would try to repay in IQD. It would be illegal anyway if bonds are denominated in USD.

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Two things:

 

1. If they issue Bonds to be paid in Dinar, that will increase the Liability of the issuer of the bonds, because if I remember correctly the Bonds have a redeemed face value on them.  So if they issue 1 Mil Dinar in Bonds, then they have to pay 1 Mil Dinar when they are redeemed for payment.  If they are going to RV to 1:1, they really don't want to do that when they have this outstanding debt in Dinar.

 

2. By issuing Debt in USD, they don't have to worry about a 1:1 RV.  Also, Dinar sitting in savings accounts and in circulation, could be used to purchase this Debt, reducing M2 and M1, which would reduce the CBI's outstanding liability of currency issued.

 

.

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What happens when they issue these bonds in IQD and then increase the IQD's worth...Then ride the wealth wave and sell at optimal gains...

 

Pay back 1,000 times more than they borrowed?  No way GOI would do that.  They just won't RV till bonds are paid back, probably 10 years.  And if they're rolled over it'll be another 10 years.

 

Sorry, but issuing bonds pretty much squashes any RV possibility for a long time.

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Pay back 1,000 times more than they borrowed?  No way GOI would do that.  They just won't RV till bonds are paid back, probably 10 years.  And if they're rolled over it'll be another 10 years.

 

Sorry, but issuing bonds pretty much squashes any RV possibility for a long time.

 

Not if they issue the bonds in USD.

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P.S. And Iraq CDS at 539 basis points means nobody in the financial world has any confidence in GOI. Doesn't look good for any RV.

 

so if the bond is in dinar..no rv..but if in dollars then no rv???????

Sorry, but issuing bonds pretty much squashes any RV possibility for a long time.

Read more: http://dinarvets.com/forums/index.php?/topic/201735-exclusive-iraq-seeks-credit-rating-before-jumbo-bond-issue/page-5#ixzz3YuGrWVqE

do you not agree that a credit rating is a good thing?

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Uh Hell...I was thinkin' the bonds would be locked in at 1166 to the Buck...The worth of the bonds can only be at the present-day value...Then when the value increases the increased value is applied to the principle in turn gives a negative...which in a flat-currency is a profit...

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