Jordan Bids to Join Gulf Cooperation Council (GCC) Bloc

[Christians4LessGvt]

I have never heard of any country's money being revalued upwards in the last 30 years.
I would not hold my breath on that one.

I never heard of a US Black President in the last 30 years either until it happened.
I never heard of a heart transplant until it happened.
I never heard of a woman Supreme Court Justice until Reagan appointed one.
I never heard of a African-American woman Secretary of State until Bush appointed one.
I never heard of a woman National Security Advisor until Bush appointed one.
I never heard of an African American Sec of State until Bush appoited one.
Things you've never heard of happen!

Dont always be peeing on everybody's parade.
It's basically a risk free investment with a long shot huge upside.
I'm not holding my breath...it's basically risk free and a tiny part of my investments
You dont like it fine.....no one is asking you to purchase.
You were critical of my gold purchases at $875.....whats it at today?

plus we've already covered this before
Kuwait has revaled it's currency several times
until you forget again

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asbY9SafEH.8&refer=currency

"The Iraqi dinar is anticipated to be revalued along the identical basis that the Kuwaiti dinar was revalued after the 1st Gulf War. At that point in time, the Kuwaiti Dinar fell from its pre war levels. When oil production was again to normal. The foreign currency recovered all its original worth. Speculators holding the Kuwaiti dinar at the time noticed profits of over 3000% on their money"

http://www.forex-learningblog.com/tag/iraqi-dinar-revaluation

[Xavier_Onassis]

I did not say not to invest in gold. I said gold was prone to be a volatile commodity, and that is true. I said that there are many gold bug investment companies that are unprofitable, and that is true as well. I even invested in a fund that invests in gold and gold mining and it has done pretty well.

As for the Iraqi dinar, if it can be revalued, it is also prone to devaluation. I don't think I would mess with it. Kuwait's government is much more predictable than Iraq's: the emir and his family have a much tighter control on Kuwait than anyone is likely to have on Iraq.

[Henny]

Henny....any word on if Iraq will join soon?

I hear that could be a piece of the puzzle
for an Iraqi dinar reval....and I wanna
hurry up and spend 4 day weekends
at the lake with about 12 million!

 

I have to say that I strongly doubt that Iraq would even be considered for a long, long time. Too unstable and too much Iranian influence. Jordan can offer the best military support and training in the entire region, particularly special forces. They can also offer a very well educated and talented workforce.

True, Iraqis are well educated and talented as well, but opening up the borders would likely cause a mass exodus. And as far as military goes, all they can offer is military trouble that the GCC would have to help them solve.

[Henny]

Rabin was the best Israeli leader ever. And of course, some nut had to shoot him.

How does this GCC thing work? As I understand it, your Kia cost about double the real price because of Jordanian taxes. So apparently the GCC would remove import duties and Sportages would then be maybe $21K or so? But what would Jordan use to pay for the government, or whatever was getting all that import duty money?

We don't yet know how it all works. The newspapers here are starting to analyze the current GCC agreement to see what might come next. One bylaw is "like taxation" between the countries. Well... there are no taxes in the Gulf for anyone. Jordan as 16% GST, plus many hidden taxes. Plus things like the markup on cars. So how, indeed, would Jordan survive? Most people are saying that it would take a number of years for everything to roll out, giving time for investments in Jordan to build up, etc. I still don't get it, so we're waiting for more information.

[Xavier_Onassis]

Best of luck to you. The new Sportage seems to be a really nice car (truck). I suppose that it is hard to find a good deal on used cars in Jordan.

As for revaluation of Iraqi money, I see this as a gamble like shares in Canadian mining stocks of companies that have noting in production. I was unaware that Kuwait money was revaluated upwards, but that has to be a unique case.

You'd be better off investing in the AAII portfolio.