Wizofog14: Here's a question. If Iraq has lower denoms out. How do we know they will take our notes. Couldn't they just say no those are discontinued we don't take those
RaginCajun: WIZ- BASED ON WHAT IRAQ HAS STATED AND IN WRITTEN ARTICLES, THE OLD CURRENCY WILL BE GOOD FOR 10 YEARS
Scotchie: Wiz, the CBI can do whatever they like, with the approval of the IMF/World Bank; however, I have read numerous articles that said there would be a timeframe of 10 years to gather the old notes. This is what I remember?
KLS: Wiz: We liberated their country from a dictator that was killing his own ppl. They loved us when we liberated them, then 14 yrs later. Give us loans, gives your military equipment, give us you military, give us your military lives, give us our sovereignty, but wait you know all those bills your holding over there USA, we're not going to honor them.....NOT GOING TO HAPPEN,
Scotchie: : KLS, the U.S. loaned Iraq $1billion while the dinar is .0008. What will Iraq owe if their currency goes to $3.50/dinar. Does the lender get screwed? I cannot figure it out.
KLS: Scotchie: Just like all contracts and loans they have signed.... does lender get screwed? I think their contracts have a $ in them to fall back on. Have we seen a contract with contractor? Or loan documents agreement? Like the budget, they have a "program rate" verbiage or a conversion that will be the "reality" rate
It might turn out to be a 1:1 in country rate promised on these loans or loan term/agreement. They have a means to be able to calculate these proposals that come in from contractors. Maybe, a backup contract that once change in value, we terminate this and go to this signed contract/agreement.
Scotchie: Thanks KLS. I am not a financial person. I wonder what the $1 billion loan was guaranteed on? Collateral? Oil possibly?
KLS: Scotchie: I would think oil. I believe these loans are spread out to 2018 payments…..