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03:08 PM
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Iraq an economic Study
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[quote:talkstory:MV8xNzI0NTM4XzM3NTk3ODE0XzI3MzcwQjNG] [quote:ReVbo™:MV8xNzI0NTM4XzM3NTkyNjk3XzRCQTcwREI1] [quote:calin:MV8xNzI0NTM4XzM3NTkyMzQ3X0Y4QzJCMTEz] What do you make of this Rev? [/quote] I'm having a hard time with it, calin. One article seems to say they don't ever plan on "striking zeros" from the existing notes, which confirms no l-word. The other article says no deletion of zeros this year. Together, they only make sense if "delete three zeros" means multiple things, and gets used in its various interpretations in different articles. If these articles are taken individually, I guess they are saying they don't ever plan to l-word, and that they don't plan on removing the zeros from the exchange rate (the so-called "leading zeros") this year. As Kaperoni would say, that could be an allusion to a free float, or it could just mean they don't plan on doing anything with the exchange rate this year, but then, there have statements from the Parliamentary Finance Committee indicating they plan on doing it in the very near future, so this could all be BS from the CBI to discourage speculation. Either way, we seem to have confirmation of no l-word and that the initial rate will be somewhere between 86 cents and a dollar. One thing is for sure. If they wait the rest of this year to do anything, every last dinar in Iraq will have turned to dust. Those notes were only meant to last 6-8 months, and most of them on the streets today have been in circulation for close to 3 or 4 years and are falling to pieces. [/quote] Perhaps both are true. Because we are trying to mix apples and oranges, as it were. removing 3 zeros from the currency vs removing the 3 leading zeros from the exchange rate. So it would seem to be saying no the 3 zeros from the currency and yes to the 3 leading zeros. Just a thought and it would seem to make sense all thing considered. ts PS in other words no l o p but a RV. It would seem that many were and are worried in Iraq that there 000 notes might become totally worthless l o p. and I think we are seeing statements to the effect that this is not going to happen, but an Rv is. [/quote]
Original Message
Iraq is rapidly becoming a force in world economics due to its oil reserves. What do you think the effects will be on the world economic stage. sk
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