Your IMF Update: Letter of Intent - Iraq

[DTM3055]

Hi Folks,

After carefully reading, there's several big discrepancies in this document that reflect positively for a revaluation, particularly regarding the second payment of $766 million and the measured benchmarks of the complete $3.6 Billion loan. I will be incorporating this into my next post.

Be good my friends,

Scooter

[SteveI]

I don't see anything wrong or bad for investors in this IMF article. Scooter, please explain to us what you think is bad l can't get it.

I do not think anything is bad, just confusing I might add. To easy to read between the lines and I am not qualified at any level to guess this one.

[DTM3055]

http://www.imf.org/external/country/IRQ/index.htm

Go to this website. It has a new post as of today 10/20/10. It is also showing the 9/18/10 post as a new post, wonder why it is just now posted, but is a month old

[gman51]

I thought the IMF recently put out a statement encouraging the CBI to increase the value of the Dinar, it was posted here on DV in the last two weeks. This makes no sense!!! GO RV!!!!!!!!!!!!!!!!!!!!!

You cannot believe anything that you read here.

This post should enthuse the naysayer crowd beyond belief..................................................GO RV BABY!!!!!

I am sure the naysayers want this RV as much as anyone else. I still don't understand why people who try to speak the facts are considered "naysayers". I would rather know the truth than to stick my head in the sand and be in denial. I hope this is proven to be wrong.

Still having a hard time wrapping my head around what foreign countries & company's will want to come in to rebuild the place or get the oil & natural gas for a 10th / 16th of a penny .or maybe the plan to rebuild the country is with Iraq's own labor force with pick ax's & shovels over the next 100 years .

Oil revenues for the companies who refine it are not effected by the exchange rate of the Dinar. They get paid based on the price of oil worldwide, which is pegged to the dollar. Your right about one thing though, they sure can get labor cheap in Iraq. I guess they will hire all Iraqis if they are smart.

Edited October 20, 2010 by gman51

[tampa1000]

The one encouraging thought is that when Irag has an intent it means nothing, they always say one thing and do another!!! So I would not go by anything they put in writing, action speaks louder than words so pay attention to what they are doing not saying.

[Linda]

Well it's Wednesday and it seems that we just hit the bottom of the roller coaster ride, but we will start climbing back up probably starting tonight, and we will reach the top by this weekend, then if the ride is not over by the weekend, we get to go through the same thing next week. I love roller coaster rides! When the dinar RV's or RI's, I am now going to construct a roller coaster on my property in honor of this investment. Good luck, and hope this ends before the end of the year.

Well, If I have to be on a roller coaster ride I guess this is the one I would choose....happy coasting....it will happen....sooner or later...we just keep on riding till then....and away we go...God Bless...

[keepmwlknfny]

I think everyone is missing a good point in all of this....when it says the exchange rate remains stable, thats a good thing......if it was unstable they would be more likely to change it negatively to control the other factors like inflation and such.....when its stable, and stays stable for long periods of time that means that it CAN be moved forward to positively affect the exchange rate because they were so good at handling the previous levels...get my drift?? When you are able to control the economic factors that apply to a countries exchange rate and do so over a long period of time, which they have done so well, you can start to change it for the better, and then adjust to control inflation and interest rates yada yada yada....baby steps people.....when you conquer one level on the field guess what? YOU MOVE UP!!! When you show the IMF and the world that you can control what you already got thats when you can ask for your raise and prove to them it wont destroy you internally......dont worry folks....I think you are all reading too much into this......

Edited October 20, 2010 by keepmwlknfny

[gman51]

http://www.imf.org/e...y/IRQ/index.htm

Go to this website. It has a new post as of today 10/20/10. It is also showing the 9/18/10 post as a new post, wonder why it is just now posted, but is a month old

Think of all the money that would have been lost if this was posted last month. If you were thinking of buying Dinar and saw this what would you do?

[kittycat]

"Monetary policy will continue to aim at

keeping inflation low, predominantly through a continuation of our exchange rate policy."

Reading this makes me wonder??????

[Mr. Phonics]

Mr Phonics, I sent you a PM but got rejected. Your mailbox is full.

Sorry, please try it again. I emptied it.

[BangBang]

Just please remember that there is 10 times more misleading and down right wrong information coming out of the the sandbox (Iraq) than correct info. I seriously doubt that they care what we think, but if they did, they would be ROFL watching us go crazy with every lie that they "leak" out.

[ametad]

After reading the report it sounds like getting a clean start is taking longer than expected. That's okay, if it takes a while to build a strong foundation it should last longer. It seems like they are doing a few things to get a number which they can take to the global arena as their net worth. It seems they need to do a few things first;

1. audit two banks, Rasheed and Rafidain

2. install a third party audit system in the CBI

3. pay all national debt

from here the country can establish all the currency export rules and guidelines. It looks reasonable to me that first square away all assets and national issues. However it does look like it may be mid 2011 or 2012 before anything comes forward on the international arena. Personally that's fine by me and encouraging to see Iraq completing a structure that will benefit the people in the long run, i am merely an outside investor. It is good to see that Iraq can put itself in front and not give into outside sources and pressures. I sincerely hope that when ever this happens it strengthens the country and the people first and foremost

[letsroll]

You cannot believe anything that you read here.

I am sure the naysayers want this RV as much as anyone else. I still don't understand why people who try to speak the facts are considered "naysayers". I would rather know the truth than to stick my head in the sand and be in denial. I hope this is proven to be wrong.

Oil revenues for the companies who refine it are not effected by the exchange rate of the Dinar. They get paid based on the price of oil worldwide, which is pegged to the dollar. Your right about one thing though, they sure can get labor cheap in Iraq. I guess they will hire all Iraqis if they are smart.

I wasn't so much talking abut the company's working with the end product of the crude, I know that's a set price but talking more about company's that are over there working / drilling , exploring the fields.... i.e Slumber jay , Halliburton & so forth that type of work /contracts ... also in the past I've read here on DV where GE had large contracts for rebuilding Iraq ...... that's what I mean by "how are the company's getting paid" or making the deals ... Dinar ?? USD ?? different rate on the Dinar . I just can't see any Big Co. going over to work for dinar , these company's are all about profit & high earnings not El-cheapo dinars ...

[^theStig]

When they are talking about keeping the exchange rate policy, I don't read that as necessarily keeping the same rate, just keeping the system that keeps that rate stable. As opposed to a free float as an example.