nuts: I have a strange feeling iraq is going to get ch7 without an rv. anybody else feeling that? not trying to be a negative nelly and we all know its coming, but we are probably days away from them getting ch7 released. we have sailed through so many "they cant do it without rving"'s that I feel this is just another one coming...
jaxjags » Here are some thoughts about Iraq leaving Chapter 7.
When is happens on Thursday, June 27, 2013 the IQD will also be acceptable/tradeable internationally. Also, Iraq still has debt..........like $100s billion of debt that still require payment.
Now consider this; if the IQD stays at 1166, for every one (1) USD of debt, Iraq has to use 1166 IQD for payment. There is NOT enough IQD in the universe to pay all their debt at this rate.
For example, it would take the following to pay at the current rate of 1166;
$100,000,000,000 X 1166 = 116,600,000,000,000. I believe this is 116 trillion IQD to pay off $100 billion in debt.
Now, lets say the IQD is increased in value to $4.00 = 1 IQD. The 116 trillion IQD requirement is reduced to ......................25 billion IQD...............25,000,000,000.
This is why Iraq will increase the value of the IQD. IMO
Bandit: Love your opinions above ....but ?.......... Without an increase in the rate ( ie: 1:1 )...... the Lower Denoms would be useless.......Right?
Frank26 » June 22nd, 2013, 7:42 pm •
Hi ....... From Ohio.
I just finished reading the last thread and was coming over to give some stuff of value and review the last 3 CCs on the transaction into RD/LD once Ch7 is lifted.
But my heart tells me ......... Wait till Monday. I will take notes on Your opinions of this subject and add to Monday's CC.
Because I KNOW there is no paper saying RD/LD first then they get Ch7.........
Yet to get Ch7 UNSC says they have to obey all mandates from IMF and one of them is to increase the value of their currency.
So........ What do I KNOW .......... To argue this tonight. The definition of ECONOMIC INTERNATIONAL TRADE needs to be better understood ...... IMO.
KTFA, Frank...... I will also gladly take request to cancel Monday. :D
Vet_1975: Frank, you can cancel Monday cc if you think the GCR will start on Monday IMO