Thread: when the cbi rate hits 1200 what does that mean to us

Wow - cheer up everybody - this thread is starting to sound really depressing.

I don't want to come accross as patronising - so please forgive me - but - bare in mind these people are building an infrastructure and Government from the ground up - these things take time.

But at least we all already know it is a very, very, very wealthy Country and a lot of large Companies want to be a part of it's future.

Originally Posted by bigopie

all we can do is wait benz....its been apparent for some time now how corrupt these people are[GOI]....they go around screaming and moaning how they want every country to forgive their debt yet at the same time they have had the HCL law approved by parliament and ready and waiting for a vote since February 2007 and have not passed it yet....seems to me i would wait and not forgive their debt until they show that they are thinking about their own people first and pass these laws needed to get their country back and running...everyone knows that there are billions of dollars sent by the U.S. that are not accounted for and missing....its not missing...all their ministers who are running their country are getting fat and rich...via under the table route..while their own people continue to starve and live in poverty....forgive their debt??...i never wopuld until they pass the laws///IMHO...Pat

I always find it amazing that the countries that have taken the hit of forgiving Iraq's debt are all non-muslim counties (except for maybe Bosnia). The ones that won't cut them any slack are muslim. What's wrong with this picture?

Originally Posted by Seaview

* DEBT WRITTEN OFF BY SOME COUNTRIES:

United States: $4.1 billion
Japan: $6.8 billion
Germany: $5.6 billion
France: $5.1 billion
Russia: $12 billion
Italy $2.4 billion
Bulgaria $3.1 billion
Serbia, Slovenia and Bosnia: $2.2 billion
Romania: $2 billion

* SAUDI ARABIA/KUWAIT:

-- Last year, Saudi Arabia's Foreign Minister Prince Saud al-Faisal said his country would write off 80 percent of the more than $15 billion it is owed by Iraq.

-- Last September, the chairman of the Paris Club, Xavier Musca, said Saudi Arabia and Kuwait still had not offered to Iraq a debt treatment comparable to the one provided by the Paris Club in 2004.

-- Kuwait is owed about $15 billion.

" always find it amazing that the countries that have taken the hit of forgiving Iraq's debt are all non-muslim counties (except for maybe Bosnia). The ones that won't cut them any slack are muslim. What's wrong with this picture? "

Could it be because they know how the game is played? Stick it to the "infidels" while linning your own pockets past the bursting point. There is a reason Iraq is ranked the 3rd most corrupt govt on the planet. Care to offer a guess as to why?

Interesting,

I think it has more to do with holding out for a deal on some of Iraq's oil since all the other regional oil reserves are close to being exhausted. It would make sense they would not reduce debt unless they get oil which is vital for their survival in coming years. Yes, Saudi's are past peak, and it is well documented by insiders who were thrown out of oil industry to keep it a secret several years ago.

Bottom line, you can't trust anyone in middle east to tell the truth, we have all seen this clearly having followed events in region for past several years. They are all total BS in gov, and this is why most don't know the reasons behind the resistance to forgive debt, it is an ace in the hole they are all going to pull out at last minute, just wait and see, it will be contingent on an oil agreement in the end, just like with Russia.

Good luck to all, Mike

From what I have read, everything is done and you are right Iraq has the trump card just waiting on best deal! RV $5.26 end of JUNE!

Originally Posted by zizbiz

From what I have read, everything is done and you are right Iraq has the trump card just waiting on best deal! RV $5.26 end of JUNE!

Only in your world!

Originally Posted by zizbiz

From what I have read, everything is done

I've been reading that since 2005. Clay even saw the signature on the document back then. 110% sure.

Until the debts are decided upon I do not believe we will see a reval. I still think the Saudis are scared of losing their number one in the Middle East to Iraq and they are watching the progress of Iraq in the political arena again because their democracy threatens their very form of government.

Nothing Is Done!!!!

ohay I started this thread and I wanted to thank everyone for there opinion. That said I recently heard from a dinar buddy that a major debt against Iraq at some summit in Sweden, this is good new getting one step closer. I agree with most of the posters here in that I believe the government of Iraq to be unethical and quite unlawful,and the hierachy is too busy lining their coffers with oil money and the unaccounted for billions of dollars the US has sent them. I have always thought that this investment was a crap shoot, a realitively safe one given this arena LOL but I think with perseverence we will ride it to its conclusion.Causiously keeping the faith here
benzboy