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Enorrste on Kaperoni Post #4 - July 8, 2010

mythunter

By mythunter,
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mythunter Newbie

mythunter

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Enorrste on Kaperoni Post #4 - 8 July 2010

Kaperoni usually does a good job on his homework. However I believe he is a bit off track on this post.

The problem for countries trying to invest in Iraq is what happens to their profits. If their profits are paid out in nearly worthless dinars what can they do with them? The simple reality is that there is very little they can do with them since the IQD is not an internationally recognized currency. Furthermore, since the de-dollarization of Iraq late last year it is even more difficult now to convert the dinars to dollars.

The fact that a law passed in 2006 allows for 100% repatriation after fees and taxes does not mean that this is in an real sense "practical". Even Kaperoni has had to make an assumption that there are international banks that will handle the transactions. However, we in America know that this is NOT the case since all but one or two banks in the US have stopped handling ANY dinars, let alone dinars from the profits of a company working in Iraq.

Therefore, while he may be technically correct, practically speaking this law does not solve the problem for a company working in Iraq.

We know that this is the case because of the statement from GE that it will not begin work on the turbines it is going to install in Iraq until it can be paid in "real" money. We have also read similar statements from Japan and China regarding contracts that have been written but will not be started until the RV occurs.

Therefore, IMO, the RV is essential for any real growth to take place in Iraq.

Steve

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yothor Newbie

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"We know that this is the case because of the statement from GE that it will not begin work on the turbines it is going to install in Iraq until it can be paid in "real" money. We have also read similar statements from Japan and China regarding contracts that have been written but will not be started until the RV occurs."

did i miss this part? when did GE say this?

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keepmwlknfny Newbie

keepmwlknfny

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"We know that this is the case because of the statement from GE that it will not begin work on the turbines it is going to install in Iraq until it can be paid in "real" money. We have also read similar statements from Japan and China regarding contracts that have been written but will not be started until the RV occurs."

did i miss this part? when did GE say this?

No you didnt miss it because it never happened and was never stated!! This is just an example of how people take simple info and twist it into a statement or rumor to make it seem like they have to RV right now....GE is getting paid otherwise they wouldnt be doing work.....no one would be doing work over in Iraq if they werent getting paid plain and simple......Its funny how E really believes this though....and this is exactly why I dont read the posts from these so called "gurus" its laughable really it is.....

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denbo420 Newbie

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No you didnt miss it because it never happened and was never stated!! This is just an example of how people take simple info and twist it into a statement or rumor to make it seem like they have to RV right now....GE is getting paid otherwise they wouldnt be doing work.....no one would be doing work over in Iraq if they werent getting paid plain and simple......Its funny how E really believes this though....and this is exactly why I dont read the posts from these so called "gurus" its laughable really it is.....

I thought I read somewhere that GE has stopped a couple of ongoing projects over money or late payments. I won't speculate further because I don't have any reference at this point (just woke up) but I'll look around here and see if I can't get some clarification, db

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keepmwlknfny Newbie

keepmwlknfny

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I thought I read somewhere that GE has stopped a couple of ongoing projects over money or late payments. I won't speculate further because I don't have any reference at this point (just woke up) but I'll look around here and see if I can't get some clarification, db

They COULD have stopped working because there is no govt in place to pass the economic reforms needed to continue progress but not because they arent getting paid with a currency worth something and that they must RV for them to continue working.....thats a little far fetched at this point otherwise they never would of started working in the first place....

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denbo420 Newbie

denbo420

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They COULD have stopped working because there is no govt in place to pass the economic reforms needed to continue progress but not because they arent getting paid with a currency worth something and that they must RV for them to continue working.....thats a little far fetched at this point otherwise they never would of started working in the first place....

you might be right, but I can say 1st hand that GE's bottom line is money and if they have any hint of a 'status change' in the money aspect they will act in their best interest. in other words, if GE had any hint of a potential RV that would increase the value of payment they'll do whatever it takes to optimize the situation to their advantage. As far as the specific projects (powerplants) I am one of the guys (Independent consultants) that oversees the logistics of moving turbines and generators from the factory to project sites via ships & barges for the past several years. I do know that they would capitalize on an RV if the opportunity ever presented itself, especially if the RV increases the value of their contracts. In my case I have invested my company in the dinar using a small portion of profits from work and essentailly I'll be profiting twice (with a bit of patience)

Edited by denbo420
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k98nights Newbie

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Holy "cow", K98nights has read the Vedas.... Perhaps.

The Vedas and Upanishads and that part of the Mahabharata known as the Bhagvad Gita. Anything I can find translated into English, and that I can afford to acquire I buy. The ancient Zen Koans and pre-Zen writings are also amazing. Good stuff.

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Maynard57 Newbie

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They COULD have stopped working because there is no govt in place to pass the economic reforms needed to continue progress but not because they arent getting paid with a currency worth something and that they must RV for them to continue working.....thats a little far fetched at this point otherwise they never would of started working in the first place....

Yep, makes sense to me. But, and then there's that 'let's continue the Chapt VII continuation of that HUGE wad of dough at 110 Wall Street.' I don't know and I expect you don't either, what the arithmetic says, and how much would be available to pay on the contract, but, if this extension of the protection of the really really big NY bank account continues, perhaps there is some sort of lien placed on that money. No, I'm not talking about post-judgment lien. I'm thinking Stipulated confession of judgment and lien in favor of GE in exchange for getting the friggin' lights turned on in Iraq. That could satisfy GE, but it could also put this RV thing out until the issue of who gets what on 110 Wall Street gets finally settled.

I don't like my argument at all. :(

Cheers,

Maynard.

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truckerron49 Newbie

truckerron49

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No you didnt miss it because it never happened and was never stated!! This is just an example of how people take simple info and twist it into a statement or rumor to make it seem like they have to RV right now....GE is getting paid otherwise they wouldnt be doing work.....no one would be doing work over in Iraq if they werent getting paid plain and simple......Its funny how E really believes this though....and this is exactly why I dont read the posts from these so called "gurus" its laughable really it is.....

It was never stated that G.E. was the "major supplier". But, it has been linked in several different bits of intell. Including right here on this sight. And, I would like to point out that apparrently you do read the info or you would have no reason for a rebuttal.. JMO.............. B)

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