Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Scooter: What's the hold up ? this could be it

TonyDownTheShore

By TonyDownTheShore,
in Chat Logs

 Share

Recommended Posts

HopefulTxn Newbie

HopefulTxn

Posted
Posted

Woo Woo Woo..."Debt to Kuwait that reaches $22billion (23,000billion dinar)"

Why do they keep writing it like that on certain articles? THOSE are the zero's I want deleted!

How is Iraq still owing Kuwait $22 billion dollars or 23 trillion dinar (ie 23,000 billion = 23 trillion) a good thing warranting a 'Woo Woo Woo'?????

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites
oneremedy Newbie

oneremedy

Posted
Posted

How is Iraq still owing Kuwait $22 billion dollars or 23 trillion dinar (ie 23,000 billion = 23 trillion) a good thing warranting a 'Woo Woo Woo'?????

I spelled that wrong actually...It s meant to be, ummmm, woh woh woh...Like, hold on, wait a minute.

I hope thats better for ya cowboy.

Link to comment
Share on other sites
keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

This has nothing to do with the RV. Iraq will soon be producing oil, gas and minerals, so they will have more than enough money to pay off Kuwait. they can even do it now with their reserves.

If they touch the reserves they lose the ability to back the value of the dinar.....

The CBI wouldnt even let the govt use reserves to fill in any budget deficits so you can be sure they wouldnt use it to pay off Kuwait...

  • Upvote 3
  • Downvote 3
Link to comment
Share on other sites
Darin Newbie

Darin

Posted
Posted

If they touch the reserves they lose the ability to back the value of the dinar.....

The CBI wouldnt even let the govt use reserves to fill in any budget deficits so you can be sure they wouldnt use it to pay off Kuwait...

I believe they have previous regime accounts that were frozen and handed over to the GOI that amounts in billions... They could use that (doesn't affect reserves)

What about the DFI funds? I know it is questionable of the amount in the funds, but, the US treasury holds that money...

Bet that could take a pretty decent chunk out of what they owe their neighbors.

Link to comment
Share on other sites
ssmith Newbie

ssmith

Posted
Posted

I believe they have previous regime accounts that were frozen and handed over to the GOI that amounts in billions... They could use that (doesn't affect reserves)

What about the DFI funds? I know it is questionable of the amount in the funds, but, the US treasury holds that money...

Bet that could take a pretty decent chunk out of what they owe their neighbors.

I was thinking the same thing & there still looking for all of sadam's hidden acct's which probably holds billions too..

Link to comment
Share on other sites
keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

I believe they have previous regime accounts that were frozen and handed over to the GOI that amounts in billions... They could use that (doesn't affect reserves)

What about the DFI funds? I know it is questionable of the amount in the funds, but, the US treasury holds that money...

Bet that could take a pretty decent chunk out of what they owe their neighbors.

Well the question becomes do they use the remainder DFI funds to pay off their debt to Kuwait and not have that cushion of money for emergency purposes or as something to fall back on when they can just simply keep that money since they have a repayment plan already set up....

As far as we know they only have 15 billion or so that was handed over to them from the DFI....I dont see them using that to repay anyone but themselves lol...

  • Upvote 2
  • Downvote 1
Link to comment
Share on other sites
Darin Newbie

Darin

Posted
Posted

Well the question becomes do they use the remainder DFI funds to pay off their debt to Kuwait and not have that cushion of money for emergency purposes or as something to fall back on when they can just simply keep that money since they have a repayment plan already set up....

As far as we know they only have 15 billion or so that was handed over to them from the DFI....I dont see them using that to repay anyone but themselves lol...

Well, it depends on the value in that account.

Also, the UST may be holding other accounts that we are not aware of.

Than we have to consider the importance of paying off that debt.

If wiping their slate clean means that increasing their output of crude is beneficiai not having 5% come off the top, they may do so.

As far as viewing it as a savings account, I am sure they could easily just get a temp loan if necessary.

But, if investments are flying towards that country like so many claim, would they really need a loan?

Lots of factors to consider..

Link to comment
Share on other sites
HopefulTxn Newbie

HopefulTxn

Posted
Posted

Well the question becomes do they use the remainder DFI funds to pay off their debt to Kuwait and not have that cushion of money for emergency purposes or as something to fall back on when they can just simply keep that money since they have a repayment plan already set up....

As far as we know they only have 15 billion or so that was handed over to them from the DFI....I dont see them using that to repay anyone but themselves lol...

Based on the PWC audit ending December 31, 2010 there was just under $7.5 billion remaining in DFI funds. LINK

But agree, even if they had the money to pay off Kuwait in that account, which it looks like they definitely didn't have, they still wouldn't have given up that bit of financial cushion just in case.

  • Upvote 1
  • Downvote 1
Link to comment
Share on other sites
keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

Based on the PWC audit ending December 31, 2010 there was just under $7.5 billion remaining in DFI funds. LINK

But agree, even if they had the money to pay off Kuwait in that account, which it looks like they definitely didn't have, they still wouldn't have given up that bit of financial cushion just in case.

Yea I remember that link, I was just going off of an article from July of 2011 that said Iraq put 15 billion from DFI into some private account in Europe I believe it was.....but regardless we see eye to eye that they wouldnt give up that cushion of money....I know I wouldnt!

  • Upvote 2
  • Downvote 2
Link to comment
Share on other sites
HopefulTxn Newbie

HopefulTxn

Posted
Posted

Yea I remember that link, I was just going off of an article from July of 2011 that said Iraq put 15 billion from DFI into some private account in Europe I believe it was.....but regardless we see eye to eye that they wouldnt give up that cushion of money....I know I wouldnt!

Unfortunately, there will be those that do not research the history of Iraq and Kuwait that would even understand WHY Iraq would would be so hesitant to EVER give one dime to Kuwait that they were not absolutely forced to...

Well, it depends on the value in that account.

Also, the UST may be holding other accounts that we are not aware of.

Than we have to consider the importance of paying off that debt.

If wiping their slate clean means that increasing their output of crude is beneficiai not having 5% come off the top, they may do so.

As far as viewing it as a savings account, I am sure they could easily just get a temp loan if necessary.

But, if investments are flying towards that country like so many claim, would they really need a loan?

Lots of factors to consider..

Actually Darin, the UST would have been forced by the Presidential Order to forward all funds, as directed, that were being held in frozen accounts to the DFI several years ago...

  • Upvote 1
Link to comment
Share on other sites
keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

Actually Darin, the UST would have been forced by the Presidential Order to forward all funds, as directed, that were being held in frozen accounts to the DFI several years ago...

Now that you mention that, I think I remember seeing a breakdown of the DFI funds as far as how much was oil revenue cause it listed frozen assets that were added to the fund so that does kinda make sense to me now, that the funds did already include those assets....

You remember the PO number for that??

  • Upvote 2
  • Downvote 1
Link to comment
Share on other sites
HopefulTxn Newbie

HopefulTxn

Posted
Posted

Now that you mention that, I think I remember seeing a breakdown of the DFI funds as far as how much was oil revenue cause it listed frozen assets that were added to the fund so that does kinda make sense to me now, that the funds did already include those assets....

You remember the PO number for that??

The one where GWB states that all frozen funds should be transferred to the DFI, it is EO 13315...

I further determine that the United States is engaged in armed

hostilities and that it is in the interest of the United States to confiscate

certain additional property of the former Iraqi regime, certain senior officials

of the former regime, immediate family members of those officials, and

controlled entities. I intend that such property, after all right, title, and

interest in it has vested in the Department of the Treasury, shall be transferred

to the Development Fund for Iraq.

http://edocket.access.gpo.gov/2003/pdf/03-22543.pdf

  • Upvote 1
Link to comment
Share on other sites
Guest
This topic is now closed to further replies.
 Share
Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

    Take This Quiz

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept