#UU6905 - "Catching Up With My Old Friends"
Hello Everyone,
It has been very, very busy at the guest haus these last couple weeks and business has been very good. We must make our money when we can get it…lol…The winter season is slowly winding down and we can see hints of spring already in the valleys of the alps.
Once again we are beginning to plan for our annual Maibaum (or Maypole) tradition. Seems like just yesterday we had this fest where is the time going?
There is losts of planning for this event and it is going to take place the weekend of Pentecost (Whitsun) Sunday this year. This tradition is especially strong in our village in the Bavarian Alps where the raising of the traditional maypole in our square is a cause for much celebration. The pole is painted in the Bavarian colours of white and blue and decorated with emblems depicting local crafts and industry of our little village. Most importantly traditions like this one brings unity and comradeship to all people of the village. It is a time we all gather together, plan and work hard to bring this event.
Hello Everyone,
It has been very, very busy at the guest haus these last couple weeks and business has been very good. We must make our money when we can get it…lol…The winter season is slowly winding down and we can see hints of spring already in the valleys of the alps.
Once again we are beginning to plan for our annual Maibaum (or Maypole) tradition. Seems like just yesterday we had this fest where is the time going?
There is losts of planning for this event and it is going to take place the weekend of Pentecost (Whitsun) Sunday this year. This tradition is especially strong in our village in the Bavarian Alps where the raising of the traditional maypole in our square is a cause for much celebration. The pole is painted in the Bavarian colours of white and blue and decorated with emblems depicting local crafts and industry of our little village. Most importantly traditions like this one brings unity and comradeship to all people of the village. It is a time we all gather together, plan and work hard to bring this event.
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As you may know we Germans have a beer tradition too and many ask if we do anything special in this regard for Maibaum. Yes- we do have a special beer in my village for this occasion (go figure!). Our very small brewery makes a tasty Maibock in the tradition of the German style Bock beer. The beer is only released in the spring and it is a tasty, rich flavored and fresh beer but very strong. It also comes after the lentil season, a time of sacrifice and prayers for our village.
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This beer is the perfect way to say good riddance to a long winter season…lol…lol…. So you can see there are lots of reasons (I only mentioned a few) for the Maibaum celebrations. Wish you all could join us!
So I come to you today after three more weeks more of winter have passed. Today I wanted to fill you all in on just what is going on and catch up to the latest news.
As usual there has been lots of rumors and nonsense floating around about the RV already taking place and these same people keep saying we are just “waiting our turn to exchange”. Really? This of course is total nonsense and continues to be nonsense as it has over the last 4-5 years. How could we be just waiting all this time? There is absolutely no factual evidence of any revaluation occurring.
So I will tell you one more time – The revaluation of the IQD has NOT yet happened but there is a new target date and I will tell you today what and why I believe this new date seems plausible.
Today’s News
Today is Friday March 4th, 2016 and still no RV.
Once again I will tell you to watch Iraq the CBI, Finance Ministry and Parliament. Only these areas will give us CLUES as to when we can expect any significant increase in the value of the Iraqi dinar. The CBI actually told us out straight that they plan to inform the people on an ongoing basis the steps in the currency reform process. They seem to be doing just that. So we do not have to listen to nonsense about “funds being moved around” or “people already being paid out”. This other stuff is all nonsense with motivation to get you to buy more currency. I also have warned you in the past about this gross speculation on these other currencies especially the Iranian Rial, Vietnamese Dong and Zimbabwe Zim.
So we know the fate of Iraq is in the hands of the Iraqi people as they try to move to a nonsectarian government. As government that can finally work cohesively and effectively together. When we see this happen we will see the full implementation of there constitution and the much needed (and mandated) laws to support it.
The wealth from the oil fields must be shared with the people of Iraq and not horded and manipulated by the government officials in power. With dropping of global oil prices it is more imperative than ever that Iraq find the mechanisms to diversify their economy and find other means of wealth. We all heard about this “other” wealth potential as articles have told us about the customs and tariffs alone could rival the amount of oil revenues not to mention the vast agriculture potential. So we see Iraq is very wealthy and this is not problematic as to why we have not yet seen them get off the “provisional” currency of post war Iraq.
By now instead we all should know that Iraq will not return to Article 8 of the UN Charter with Iraq until they are fully ready. To be ready they need (as I have been telling you for so long):
Okay now so now many of you are saying then in order to fully do all these things it will take 20 or more years. Yes and you would be correct except that I did not say they needed to be do them all fully. What is “fully” anyhow but skeptics and pessimism in your mind as you are always looking for something negative to hold back the revaluation.
Article Begins
PRESIDENTIAL STATEMENT: ABADI IN THE COMING PERIOD TO SEE CABINET RESHUFFLE ON PRESIDENCIES AND THE HEAD OF BLOCKS
Euphrates News
03/02/2016 23:53
{Baghdad} Euphrates News Presidency announced that the "Prime Minister Haider al-Abadi will present the results of consultations and the work of the Special Committee formed in the special ministerial cabinet change during the coming period on the presidencies Althelat and heads of political blocs.
According to a presidential statement received by the agency {Euphrates News} a copy of it today he was "out of unnecessary success in the task of developing and diversifying our national income resources based on national our potential self to face the consequences of the decline in oil imports , the economic crisis with the need to provide a complete victory over terrorism kits, and a commitment to the principle of necessity constructive consultations in order to ensure this, held this evening Wednesday, 02.03.2016, meeting at the peace Palace in Baghdad attended by Messrs President and the Prime Minister and President of the House of Representatives with the leaders and the heads of political blocs. "
He added that" discussions were held in the atmosphere of frank and positive, was emphasized the need for a cabinet reshuffle in accordance with the professional standards and efficiency , including hurt in a comprehensive reform. in this regard, the Prime Minister will present the consultations and the results of work of the Special Committee formed in the cabinet during the coming period on the presidencies Althelat and heads of political blocs and only in the vein views of academics, specialists and independents including leading to the preparation of a comprehensive reform program is in the service of citizens and face the economic, security and political challenges that hinder the political process. "
The meeting discussed the security situation and has to condemn the terrorist bombings of civilians in several parts of the country and to support and sustain the armed forces and security services in the fight against terrorist groups especially Daash and the willingness to free all Iraqi territory from Conception terrorism ".
Article Ends
So in relation to government reforms. I have told you many times already that we will not see any revaluation of the Iraqi dinar dinar until we see Dr Shabibi come back the CBI and once again take the seat as the governor. I told you it would not be long until we witnessed the cleanup of the CBI. This had to occur.
Many rebuttal this position I take and I say you may have your OPINION but I have mine too and can fully justify mine. Can you justify yours?
Many say Shabibi is already diligently working behind the scenes to assist so why does it matter if he is the “official” governor or not? But by this view you only show me you do not understand and do not fully get my point. Yes- we know Shabibi is working hard behind the scenes but this is only a small part of the effort to bring about the revaluation. There is still corruption in the CBI as he is still officially the head of the CBI but does not sit as the governor – get it? Why? Do you understand. This is corruption!
The current governor will NEVER RV the currency since he is pro Iranian and is not in favor of a prosperous and abundant Iraq. He also not know the mechanism in which to bring about this change in the currency. So do you see there is still a huge conflict of interest. The current proxy governor was selected by the Dowa party (Maliki and his goons) and we know what impact they still have on the direction of the country. But this is all changing but not yet completed. It is hard for Abadi to bring about the full change needed since he is closely aligned with the Dowa party.
Remember also I have said that when Abadi took office as prime minister he asked Dr Shabibi to come back the CBI and head it. Dr Shabibi accepted the invitation but only 1)if he was vindicated of all crimes, 2) have complete autonomy in the CBI vs the GOI and 3) it must be publicly announced he has once again taken control as the governor of the CBI.
Have we seen all of these items provided to Dr Shabibi?
So how to do they correct this situation?
Well we see many issues being stalled as a result of the Dowa party and its control and refusal to move towards a nonsectarian government, one that Abadi has tried since September 2014 to bring about. So we keep seeing over and over again yet another plan to help move and bring about the much needed nonsectarian government. All plans so far seem not to take root fully. But there is a new plan and we can watch it unfold. Will it work this time?
So the new plan underway is to form a “Unification” party (called many other names too) and we have seen the very start of this movement over the last many months already. Now to fully implement it, prime minister Abadi will have to break from the Dowa party and in doing so he is taking about 75% of converts with him. This will leave the Dowa party virtually helpless and set the stage for the inevitable breakup and dissolution of the Dowa party. Don’t believe me the Dowa party will every go away? Wake up people and watch it all play out in the coming month.
Now what happens when the power base of the Dowa party is gone? Then we will see true majority rule in parliament and maybe see a quick expediting of the much needed laws to complete the process of fulfilling my laundry list of needed items above in order to see this RV to completion.
Just recently we have heard that three of the religious clerics in Iraq has asked that Dr Shabibi return to the CBI (or other qualified technocrat). We have seen a recent assassination attempt on cleric Sadr for bringing the people together on this subject of economic reforms. We also have heard promises from Abadi he will announce new technocrats for the needed government positions in the next few weeks.
Article Begins
SADR CALLS FOR PROTESTERS NOT TO ENTER THE GREEN ZONE THIS WEEK
By admin-ri 03.03.2016 11:00 |
Demanded the cleric Muqtada al-Sadr, on Thursday, the protesters not to enter the Green Zone this week, but after the deadline.
Mr. Moqtada said in a statement Thanks to everyone who Nasser Iraq to demonstrate peacefully and to support the draft comprehensive reform and the overall recommendations fabricators in your hands, Insurgents Liberal and you patriots brave I'll try you access spite of death threats, and if I could not Vassalkm pray and light and you and God excuse. "
"I was organizing in the previous Friday more remarkable therefore, continue it," urging them "not to attack on one," and urged them "angry demonstrations peaceful form."
He noted that "access to the red zone is not this week replaced, but after the deadline," saying, "I hope he does not end without a major overhaul," adding "Htavatkm and Haaratkm and Avtatkm only for Iraq Dzeetm good, and anyone or any group that violates they are not of you and tried to dimensions of decent roads. "
Article Ends
By the way the cleric Sadr on February 12th gave the government 45 days to bring about a government of technocrats. This brings us to March 28th or let’s just say until the end of March.
Also remember the MOU (memo of understanding) between Iraq and the IMF. I brought this MOU to you in my news letter dated in 12th January. There were many obligations agree to in this arrangement. One of which was to remove all barriers and obstacles to increasing the exchange rate of the Iraqi dinar. The deadline was the end of February. So now it is March already and we do not see these obstacles fully removed and so this is why (I believe) the clerics began speaking out against the government for bringing about technocrats that have the experience and knowledge to get the jog done. This is why we are hearing now so much about replacing the current proxy governor of the CBI.
It all makes total sense if you are diligent enough to follow up and read the news on an ongoing basis. One event leads to another and is the reason for the other. But the key is to understand fully you must be diligent and read and stop listening to all this crap and misinformation being pumped out to get you to buy more currency.
So now let me talk about another issue I listed in my laundry list of events prior to any RV. This is the ridding of terrorism in Iraq. The CBI themselves has told us this week that the lifting of the dollar against the IQD exchange rate will be accomplished and they will witness a qualitative leap for the years 2016-2020. They have told us this process can not be completed until Iraq is rid of ISIS and DAASH. We now see the final stages of ridding Iraq of ISIS in the battle for Mosul.
Next let us talk about Iraqi credit rating. In order to do this let me use the determination of your own credit rating for you personal finances as an example to help you understand what is going on with Iraq in this regard. I hope it all now will make sense and you can see the saga with Iraq that has been unfolding. This is NOT Hype, NOT Rumors, just the FACTS.
So how is your personal credit rating determined? We hear lots of advertisements on TV these days to get your credit score and the importance of it. Basically your personal credit score is based upon your ability to service debt (to borrow money) from a credit service provider (bank). Also any obstacles that can prevent in the collect of any debt of any debt you may have borrowed or will borrow in the future from these creditors (banks).
So I come to you today after three more weeks more of winter have passed. Today I wanted to fill you all in on just what is going on and catch up to the latest news.
As usual there has been lots of rumors and nonsense floating around about the RV already taking place and these same people keep saying we are just “waiting our turn to exchange”. Really? This of course is total nonsense and continues to be nonsense as it has over the last 4-5 years. How could we be just waiting all this time? There is absolutely no factual evidence of any revaluation occurring.
So I will tell you one more time – The revaluation of the IQD has NOT yet happened but there is a new target date and I will tell you today what and why I believe this new date seems plausible.
Today’s News
Today is Friday March 4th, 2016 and still no RV.
Once again I will tell you to watch Iraq the CBI, Finance Ministry and Parliament. Only these areas will give us CLUES as to when we can expect any significant increase in the value of the Iraqi dinar. The CBI actually told us out straight that they plan to inform the people on an ongoing basis the steps in the currency reform process. They seem to be doing just that. So we do not have to listen to nonsense about “funds being moved around” or “people already being paid out”. This other stuff is all nonsense with motivation to get you to buy more currency. I also have warned you in the past about this gross speculation on these other currencies especially the Iranian Rial, Vietnamese Dong and Zimbabwe Zim.
So we know the fate of Iraq is in the hands of the Iraqi people as they try to move to a nonsectarian government. As government that can finally work cohesively and effectively together. When we see this happen we will see the full implementation of there constitution and the much needed (and mandated) laws to support it.
The wealth from the oil fields must be shared with the people of Iraq and not horded and manipulated by the government officials in power. With dropping of global oil prices it is more imperative than ever that Iraq find the mechanisms to diversify their economy and find other means of wealth. We all heard about this “other” wealth potential as articles have told us about the customs and tariffs alone could rival the amount of oil revenues not to mention the vast agriculture potential. So we see Iraq is very wealthy and this is not problematic as to why we have not yet seen them get off the “provisional” currency of post war Iraq.
By now instead we all should know that Iraq will not return to Article 8 of the UN Charter with Iraq until they are fully ready. To be ready they need (as I have been telling you for so long):
- absence of terrorism in their country (rid Iraq of these private militias)
- rid them of the post 2011 Iranian influence (after the USA pulled out of Iraq) yes- this means Maliki and his goons too.
- bring the corrupt officials to justice
- unify the country (moving away from sectarians quotas for government positions but rather moving towards technocratic positions). They have seen that the post war organization of the government is just not going to work out and must be changed. Abadi has a new plan and I will talk about it later.
- full implementation of their constitution (in fact they are planning to write may parts to their old constitution, thus the needed laws to implement it).
- streamline the government (save money and rid it of the nonproductive baggage)
- be ready in the banking sector to join the international WTO, World Bank
- decrease reliance on imports and being domestic production. Turn from an importer to a exporter.
- did I miss any?
Okay now so now many of you are saying then in order to fully do all these things it will take 20 or more years. Yes and you would be correct except that I did not say they needed to be do them all fully. What is “fully” anyhow but skeptics and pessimism in your mind as you are always looking for something negative to hold back the revaluation.
Article Begins
PRESIDENTIAL STATEMENT: ABADI IN THE COMING PERIOD TO SEE CABINET RESHUFFLE ON PRESIDENCIES AND THE HEAD OF BLOCKS
Euphrates News
03/02/2016 23:53
{Baghdad} Euphrates News Presidency announced that the "Prime Minister Haider al-Abadi will present the results of consultations and the work of the Special Committee formed in the special ministerial cabinet change during the coming period on the presidencies Althelat and heads of political blocs.
According to a presidential statement received by the agency {Euphrates News} a copy of it today he was "out of unnecessary success in the task of developing and diversifying our national income resources based on national our potential self to face the consequences of the decline in oil imports , the economic crisis with the need to provide a complete victory over terrorism kits, and a commitment to the principle of necessity constructive consultations in order to ensure this, held this evening Wednesday, 02.03.2016, meeting at the peace Palace in Baghdad attended by Messrs President and the Prime Minister and President of the House of Representatives with the leaders and the heads of political blocs. "
He added that" discussions were held in the atmosphere of frank and positive, was emphasized the need for a cabinet reshuffle in accordance with the professional standards and efficiency , including hurt in a comprehensive reform. in this regard, the Prime Minister will present the consultations and the results of work of the Special Committee formed in the cabinet during the coming period on the presidencies Althelat and heads of political blocs and only in the vein views of academics, specialists and independents including leading to the preparation of a comprehensive reform program is in the service of citizens and face the economic, security and political challenges that hinder the political process. "
The meeting discussed the security situation and has to condemn the terrorist bombings of civilians in several parts of the country and to support and sustain the armed forces and security services in the fight against terrorist groups especially Daash and the willingness to free all Iraqi territory from Conception terrorism ".
Article Ends
So in relation to government reforms. I have told you many times already that we will not see any revaluation of the Iraqi dinar dinar until we see Dr Shabibi come back the CBI and once again take the seat as the governor. I told you it would not be long until we witnessed the cleanup of the CBI. This had to occur.
Many rebuttal this position I take and I say you may have your OPINION but I have mine too and can fully justify mine. Can you justify yours?
Many say Shabibi is already diligently working behind the scenes to assist so why does it matter if he is the “official” governor or not? But by this view you only show me you do not understand and do not fully get my point. Yes- we know Shabibi is working hard behind the scenes but this is only a small part of the effort to bring about the revaluation. There is still corruption in the CBI as he is still officially the head of the CBI but does not sit as the governor – get it? Why? Do you understand. This is corruption!
The current governor will NEVER RV the currency since he is pro Iranian and is not in favor of a prosperous and abundant Iraq. He also not know the mechanism in which to bring about this change in the currency. So do you see there is still a huge conflict of interest. The current proxy governor was selected by the Dowa party (Maliki and his goons) and we know what impact they still have on the direction of the country. But this is all changing but not yet completed. It is hard for Abadi to bring about the full change needed since he is closely aligned with the Dowa party.
Remember also I have said that when Abadi took office as prime minister he asked Dr Shabibi to come back the CBI and head it. Dr Shabibi accepted the invitation but only 1)if he was vindicated of all crimes, 2) have complete autonomy in the CBI vs the GOI and 3) it must be publicly announced he has once again taken control as the governor of the CBI.
Have we seen all of these items provided to Dr Shabibi?
So how to do they correct this situation?
Well we see many issues being stalled as a result of the Dowa party and its control and refusal to move towards a nonsectarian government, one that Abadi has tried since September 2014 to bring about. So we keep seeing over and over again yet another plan to help move and bring about the much needed nonsectarian government. All plans so far seem not to take root fully. But there is a new plan and we can watch it unfold. Will it work this time?
So the new plan underway is to form a “Unification” party (called many other names too) and we have seen the very start of this movement over the last many months already. Now to fully implement it, prime minister Abadi will have to break from the Dowa party and in doing so he is taking about 75% of converts with him. This will leave the Dowa party virtually helpless and set the stage for the inevitable breakup and dissolution of the Dowa party. Don’t believe me the Dowa party will every go away? Wake up people and watch it all play out in the coming month.
Now what happens when the power base of the Dowa party is gone? Then we will see true majority rule in parliament and maybe see a quick expediting of the much needed laws to complete the process of fulfilling my laundry list of needed items above in order to see this RV to completion.
Just recently we have heard that three of the religious clerics in Iraq has asked that Dr Shabibi return to the CBI (or other qualified technocrat). We have seen a recent assassination attempt on cleric Sadr for bringing the people together on this subject of economic reforms. We also have heard promises from Abadi he will announce new technocrats for the needed government positions in the next few weeks.
Article Begins
SADR CALLS FOR PROTESTERS NOT TO ENTER THE GREEN ZONE THIS WEEK
By admin-ri 03.03.2016 11:00 |
Demanded the cleric Muqtada al-Sadr, on Thursday, the protesters not to enter the Green Zone this week, but after the deadline.
Mr. Moqtada said in a statement Thanks to everyone who Nasser Iraq to demonstrate peacefully and to support the draft comprehensive reform and the overall recommendations fabricators in your hands, Insurgents Liberal and you patriots brave I'll try you access spite of death threats, and if I could not Vassalkm pray and light and you and God excuse. "
"I was organizing in the previous Friday more remarkable therefore, continue it," urging them "not to attack on one," and urged them "angry demonstrations peaceful form."
He noted that "access to the red zone is not this week replaced, but after the deadline," saying, "I hope he does not end without a major overhaul," adding "Htavatkm and Haaratkm and Avtatkm only for Iraq Dzeetm good, and anyone or any group that violates they are not of you and tried to dimensions of decent roads. "
Article Ends
By the way the cleric Sadr on February 12th gave the government 45 days to bring about a government of technocrats. This brings us to March 28th or let’s just say until the end of March.
Also remember the MOU (memo of understanding) between Iraq and the IMF. I brought this MOU to you in my news letter dated in 12th January. There were many obligations agree to in this arrangement. One of which was to remove all barriers and obstacles to increasing the exchange rate of the Iraqi dinar. The deadline was the end of February. So now it is March already and we do not see these obstacles fully removed and so this is why (I believe) the clerics began speaking out against the government for bringing about technocrats that have the experience and knowledge to get the jog done. This is why we are hearing now so much about replacing the current proxy governor of the CBI.
It all makes total sense if you are diligent enough to follow up and read the news on an ongoing basis. One event leads to another and is the reason for the other. But the key is to understand fully you must be diligent and read and stop listening to all this crap and misinformation being pumped out to get you to buy more currency.
So now let me talk about another issue I listed in my laundry list of events prior to any RV. This is the ridding of terrorism in Iraq. The CBI themselves has told us this week that the lifting of the dollar against the IQD exchange rate will be accomplished and they will witness a qualitative leap for the years 2016-2020. They have told us this process can not be completed until Iraq is rid of ISIS and DAASH. We now see the final stages of ridding Iraq of ISIS in the battle for Mosul.
Next let us talk about Iraqi credit rating. In order to do this let me use the determination of your own credit rating for you personal finances as an example to help you understand what is going on with Iraq in this regard. I hope it all now will make sense and you can see the saga with Iraq that has been unfolding. This is NOT Hype, NOT Rumors, just the FACTS.
So how is your personal credit rating determined? We hear lots of advertisements on TV these days to get your credit score and the importance of it. Basically your personal credit score is based upon your ability to service debt (to borrow money) from a credit service provider (bank). Also any obstacles that can prevent in the collect of any debt of any debt you may have borrowed or will borrow in the future from these creditors (banks).
You do not automatically have a credit score when you are born….lol…lol… You must earn one and you must borrow money to do that. As you borrow more and more money and consistently pay it back (or not) your credit rating can increase (better score) or decrease (worst score). It is this ability to manage you debt that is important. But unfortunately first you must go into debt. Funny how those that don’t need the credit the most are the ones that can qualify for the highest amount of credit.
So now can you see why Iraq must pretend to have a deficit? Yes they do have financial difficulties since oil prices did in fact drop. They have been advised to clean up their long term expenditures and they are very top heavy in government officials payroll and benefits.
So there is work to be done in this area. But remember they ended up post 2003 war virtually debt free. But how do you establish a good credit rating when you never borrowed any money? They also borrowed very little money under Saddam Hussein regime too. So how can you assign now a good credit rating to Iraq? What do you use? But there is a solution.
SIMPLY GO INTO DEBT!
Yes we all do it too. We buy homes, cars and store purchases all on credit. It’s a way of life for the western society. Over time our credit score increases as we prove we can be responsible with money and manage our debt. As long as we keep any adverse issues off our credit report and can prove we have income to pay it back we will be prime candidates for yet…….. MORE CREDIT. We all know this is problematic and is part of the source of our national debt and the reason it is so high. I do not want to get into politics today on this issue but instead only want to show you what Iraq had to do and used this debt issue to get what they wanted (needed) and will soon get a class A rating.
So where is all this Iraqi debt coming from? Well if you now understand the basic principle of determining credit ratings you can now see that Iraq must borrow money on credit, pay it back to increase their credit rating. I do not want to over simplify this rating process but the class BB credit rating announced in 20013 was felt not to be what Iraq needed so they had to create a situation where they had to go into debt and borrow money. We witnessed this spree of taking on so much debt all of a sudden. Did you wonder why? We were all told it was to solve their debt crisis and it was. But who and why create this debt in the first place is the real question? Was is coincidental?
Link to PART 2
So now can you see why Iraq must pretend to have a deficit? Yes they do have financial difficulties since oil prices did in fact drop. They have been advised to clean up their long term expenditures and they are very top heavy in government officials payroll and benefits.
So there is work to be done in this area. But remember they ended up post 2003 war virtually debt free. But how do you establish a good credit rating when you never borrowed any money? They also borrowed very little money under Saddam Hussein regime too. So how can you assign now a good credit rating to Iraq? What do you use? But there is a solution.
SIMPLY GO INTO DEBT!
Yes we all do it too. We buy homes, cars and store purchases all on credit. It’s a way of life for the western society. Over time our credit score increases as we prove we can be responsible with money and manage our debt. As long as we keep any adverse issues off our credit report and can prove we have income to pay it back we will be prime candidates for yet…….. MORE CREDIT. We all know this is problematic and is part of the source of our national debt and the reason it is so high. I do not want to get into politics today on this issue but instead only want to show you what Iraq had to do and used this debt issue to get what they wanted (needed) and will soon get a class A rating.
So where is all this Iraqi debt coming from? Well if you now understand the basic principle of determining credit ratings you can now see that Iraq must borrow money on credit, pay it back to increase their credit rating. I do not want to over simplify this rating process but the class BB credit rating announced in 20013 was felt not to be what Iraq needed so they had to create a situation where they had to go into debt and borrow money. We witnessed this spree of taking on so much debt all of a sudden. Did you wonder why? We were all told it was to solve their debt crisis and it was. But who and why create this debt in the first place is the real question? Was is coincidental?
Link to PART 2
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