Interesting Read!
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This came from elsewhere.....the names were x'd out so I'm not sure where it orginated. Still an interesting read!
Sun 23 Aug 2009 - 0:37 Topic: Warka and GCC
Hi XXX,
Sorry for the delay in reporting this.
The power was lost here in India. got back after several hours.
it is 10.42 AM now here. I checked in warka. yes it is now reported as "value date" for the amount getting posted or transferrd, meaning that there is a cut-off date for getting a new value. ie.. they are gonna allow more money trransfers but after certain date the transferred dollars will only get a new value of IQD when converted.
currently US $ 850 will get 1mil in iqd.
Once it is rv-ed, 1 mil iqd mustbve equal to betwen 1.2 mill and 3.41 mill US $ .
But if there are transfer after certain date (Value date), then the dollars transferred will not get a million for US 850 $. one will only get some 250 IQD instead of 1 mill IQD;
and that 250 IQD wil get them agaoin around 800 US $ only after RV value date.
It is very interesting to see that these are in place now.
i was always wondering how on earth they would stop wire transfers after certain pre-announcements that trigger RV. one cannot stop wire transfers at all.
However when such anniouncement is made, the biggest speculation ever that one can make out that will that the rv is imminent and any minute. SO people will jump in to get either more iqd or transfer money. and this tool in warka will then come into play i guess.
I am very thrilled that this is coming to an end as they are putting in place checks and balances for a post rv already.
i was talking to my friend who returned from dubai after 25 years of working there. The arabs wants to do a lot of charity as they do fast everyday. though it is logical to think that the biggest charity is to be offered on the final day of the fasting on approximately the sep 22nd;
two things to be noted also that are not only logical but make sense.
1. it is just not the govt alone that wants to do charity to give to everyone on sept 22d or before, but it is their duty to also help all their citizens to do charity on their own as well.
2. SO govt cannot just do it on 22nd sept and be done with it. they have to do their part (rv) before that date so that people can do charity everyday during the month, a lot before, may be anytime now.
The Magic jack is intermittently working due to interrupted internet and power supply and hence i am not able to call you now. I really wanted to talk to you though. I hope this long pm explains some.
Also as i explained earlier they are all inter-related (married etc). they want to make their own unified currency in the same range around 3.40 tro 3.80. Earlier they had an aggressive schedule for that to happen in dec this year but then postponed it for later. On the day they announce iraq is memeber of GCC, the RV will be a past thing.
Best Regards,
--------------------------------------------------------------------------------
This came from elsewhere.....the names were x'd out so I'm not sure where it orginated. Still an interesting read!
Sun 23 Aug 2009 - 0:37 Topic: Warka and GCC
Hi XXX,
Sorry for the delay in reporting this.
The power was lost here in India. got back after several hours.
it is 10.42 AM now here. I checked in warka. yes it is now reported as "value date" for the amount getting posted or transferrd, meaning that there is a cut-off date for getting a new value. ie.. they are gonna allow more money trransfers but after certain date the transferred dollars will only get a new value of IQD when converted.
currently US $ 850 will get 1mil in iqd.
Once it is rv-ed, 1 mil iqd mustbve equal to betwen 1.2 mill and 3.41 mill US $ .
But if there are transfer after certain date (Value date), then the dollars transferred will not get a million for US 850 $. one will only get some 250 IQD instead of 1 mill IQD;
and that 250 IQD wil get them agaoin around 800 US $ only after RV value date.
It is very interesting to see that these are in place now.
i was always wondering how on earth they would stop wire transfers after certain pre-announcements that trigger RV. one cannot stop wire transfers at all.
However when such anniouncement is made, the biggest speculation ever that one can make out that will that the rv is imminent and any minute. SO people will jump in to get either more iqd or transfer money. and this tool in warka will then come into play i guess.
I am very thrilled that this is coming to an end as they are putting in place checks and balances for a post rv already.
i was talking to my friend who returned from dubai after 25 years of working there. The arabs wants to do a lot of charity as they do fast everyday. though it is logical to think that the biggest charity is to be offered on the final day of the fasting on approximately the sep 22nd;
two things to be noted also that are not only logical but make sense.
1. it is just not the govt alone that wants to do charity to give to everyone on sept 22d or before, but it is their duty to also help all their citizens to do charity on their own as well.
2. SO govt cannot just do it on 22nd sept and be done with it. they have to do their part (rv) before that date so that people can do charity everyday during the month, a lot before, may be anytime now.
The Magic jack is intermittently working due to interrupted internet and power supply and hence i am not able to call you now. I really wanted to talk to you though. I hope this long pm explains some.
Also as i explained earlier they are all inter-related (married etc). they want to make their own unified currency in the same range around 3.40 tro 3.80. Earlier they had an aggressive schedule for that to happen in dec this year but then postponed it for later. On the day they announce iraq is memeber of GCC, the RV will be a past thing.
Best Regards,
