Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by rkpdwp

that 1260 keeps popping up.I hope they are not going to stop the dinar
apperication at that point.I would appericate anyones comments on this
thanks Ronnie

read the latest posts in the rumor section http://www.rolclub.com/rumors-predic...-new-post.html

I and others have posted their thoughts on this.

Peace
Michael

Originally Posted by lndmn_01

the whole $3500 per Iraqi per year makes no sense as they said 1/3 of the oil revenues, approximately or 10 billion a year. How did it ever get to $3500 per Iraqi?

Post 34384 in the History Thread.

Iraq's oil revenues may generate $ 3500 for every citizen


Said analyst for Texas-based energy Tuesday that the plan accepted in Washington for the distribution of oil wealth of Iraq directly to the Division had put $ 3500 annually in the hands of every Iraqi citizen deep. The analyst said veteran Del Astevz that appreciation based on the oil price of 60 dollars a barrel and production costs ten dollars a barrel and the assumption that the ten million Iraqis will be in the age to qualify for a share of oil wealth for the country. Iraq produced 2.2 million barrels of oil per day and exports 1.5 million barrels, according to the report of a study of Iraq, which was issued earlier this month. Estimates vary, the average annual income in Iraq varies considerably, but in the maximum amount of $ 1500 annually. He said Astevz told Reuters in an interview that the best way to manage the distribution of wealth may be giving money to those who register to participate in the elections and the vote bank account is maintained and thus promotes social participation and stability. He said, "when people understood that the money coming to them, they will seek to protect the resource of income and want to have a government capable of settling disputes." Against says that the distribution of those funds would be difficult because of problems related to corruption and things of transport and communications, but the idea gained adherents discuss with the United States a way to eliminate the chaos that followed the war in 2003, which dropped the dictatorship of Saddam

جريدة المواطن العراقية

Originally Posted by jsfletcher

sorry I don't keep up with all the links but you're right. When HCL talks really started heating up it was said 30% of revenues, this 3500 just came out recently. I would lean more towards the 30% model, just my opinion, but Iraq wants to be a powerhouse not at a creampuff

If they took the amount of 30 billion that was originally talked about and divide by 3 (1/3 of revenues to be distributed) we have 10 billion a month. 10 billion divided by 12 million (approx. number of adults) we have $833 month per adult. $833 every month for 12 months is $9996 per year. If we divide the amount by 26 million(estimated total number of Iraqi citizens) we get $384 per month or $4615 a year. Are they estimating that there more Iraqi's than before? If we take the amount of $3500 per year per Iraqi with 26 million people we come to approximately 7.5 billion in revenues that will be shared, 2.5 billion less than previously discussed.

Quote:
Originally Posted by lndmn_01
the whole $3500 per Iraqi per year makes no sense as they said 1/3 of the oil revenues, approximately or 10 billion a year. How did it ever get to $3500 per Iraqi?


Post 34384 in the History Thread.


Quote:
Iraq's oil revenues may generate $ 3500 for every citizen


Said analyst for Texas-based energy Tuesday that the plan accepted in Washington for the distribution of oil wealth of Iraq directly to the Division had put $ 3500 annually in the hands of every Iraqi citizen deep. The analyst said veteran Del Astevz that appreciation based on the oil price of 60 dollars a barrel and production costs ten dollars a barrel and the assumption that the ten million Iraqis will be in the age to qualify for a share of oil wealth for the country. Iraq produced 2.2 million barrels of oil per day and exports 1.5 million barrels, according to the report of a study of Iraq, which was issued earlier this month. Estimates vary, the average annual income in Iraq varies considerably, but in the maximum amount of $ 1500 annually. He said Astevz told Reuters in an interview that the best way to manage the distribution of wealth may be giving money to those who register to participate in the elections and the vote bank account is maintained and thus promotes social participation and stability. He said, "when people understood that the money coming to them, they will seek to protect the resource of income and want to have a government capable of settling disputes." Against says that the distribution of those funds would be difficult because of problems related to corruption and things of transport and communications, but the idea gained adherents discuss with the United States a way to eliminate the chaos that followed the war in 2003, which dropped the dictatorship of Saddam


ok $3500 x 10,000,000 people = $ 35,000,0000,000 (that's 35 billion)

Well, at least that is less than the total budget of 41 billion. So we have 6 billion left to rebuild the infrastructure, and govern the country including paying all governement salaries (members of parliament, police officers, army personnel, clerks, etc etc etc.)

Who do they think they are kidding? Do they really think we are that stupid?

Originally Posted by lndmn_01

If they took the amount of 30 billion that was originally talked about and divide by 3 (1/3 of revenues to be distributed) we have 10 billion a month. 10 billion divided by 12 million (approx. number of adults) we have $833 month per adult. $833 every month for 12 months is $9996 per year. If we divide the amount by 26 million(estimated total number of Iraqi citizens) we get $384 per month or $4615 a year. Are they estimating that there more Iraqi's than before? If we take the amount of $3500 per year per Iraqi with 26 million people we come to approximately 7.5 billion in revenues that will be shared, 2.5 billion less than previously discussed.

Sorry to quote my own post. I have to ask, does anyone know about Alaska's permanent fund and what are the age requirements to receive a portion of the money? Do parents receive extra for their children? If so is it a smaller amount? I have to ask because the revenue sharing in Kuwait is setup so that The head of every household receives, for example $30k and an additional smaller amount for their wife and each child. The reason I ask is I can't imagine the GoI paying the same amount to each person in Iraq or even paying any to children.

Thanks

Iraqi cleric tells his allies to end boycott

The Associated Press
Thursday, December 21, 2006
BAGHDAD
The radical Shiite cleric Moktada al-Sadr will allow his supporters to return to their positions in the Iraqi government after a three-week boycott that was launched to protest the prime minister's meeting with President George W. Bush, three officials close to the militia leader said late Thursday.

Sadr's loyalists walked out of their positions in Parliament and the cabinet after Prime Minister Nuri Kamal al-Maliki met Bush in Jordan three weeks ago.

Shiites from the largest bloc in the Parliament, the United Iraqi Alliance, met Thursday in the holy city of Najaf as part of a plan to persuade the anti- American cleric to rejoin the political process and rein in his fighters.

They were in touch with Sadr's aides and were to meet the cleric himself Friday or Saturday, aides to participants said on condition of anonymity.

Abdul Karim al-Anizi, a prominent Shiite lawmaker from the Dawa faction, said: "The main United Iraqi Alliance forces and the Sadr movement have agreed to solve the problems and overcome the obstacles that made Sadr boycott the political process. So within two days, the Sadr movement will return to the government and Parliament."

Two figures in Sadr's movement, an aide to the cleric and a member of Parliament, also said the cleric would allow his followers to rejoin the government.

"We will rejoin the government and the Parliament very soon," the lawmaker said on condition of anonymity. He added: "We got some guarantees during our meeting today."

Shiites from the United Iraqi Alliance also met Thursday with Grand Ayatollah Ali al-Sistani to discuss Iraq's predicament. They sought Sistani's blessing for a governing coalition taking shape among Shiites, Kurds and one Sunni party — seen as a last-ditch effort at rare cooperation across the sectarian divide. Though Sistani will probably approve the deal, he fears the coalition could weaken the Shiite bloc, officials close to him said on condition of anonymity.

It is hoped the coalition could run Iraq more efficiently than the government of Maliki, who has been criticized for his ties to Sadr.

"We will inform the grand ayatollah about the political process, a cabinet reshuffle, the security situation, and ask al-Sadr to end the boycott and return to the political process," said Ali al-Adib, a member of Maliki's Dawa Party and the Shiite parliamentary bloc.

The parties pushing for the new coalition hope Sadr will order his militia, the Mahdi Army, to halt fighting for one month, said a prominent Shiite politician and another official close to Sadr, who both spoke on condition of anonymity.

The U.S. military, meanwhile, said Thursday that a marine assigned to the 1st Brigade, 1st Armored Division, died Wednesday in Anbar Province west of Baghdad where insurgents are strong. A soldier assigned to Regimental Combat Team 7 died there Tuesday. A roadside bomb killed a U.S. soldier Wednesday and wounded three others south of the capital, the military said. So far in December, 71 American soldiers have been killed. At least 2,959 American troops have died since the beginning of the war in March 2003, according to an Associated Press count.

On Thursday, a suicide bomber killed 15 people and wounded 15 others in a crowd of police volunteers in eastern Baghdad, the police and the U.S. military said. The dead included three police officers and 12 recruits. The police in Baghdad found 38 bodies, apparent victims of sectarian violence, and a car bomb killed two civilians.

Originally Posted by CORY

is it true no more auctions after tonight til 1/8/2007 and why

By my count they have 5 full auction dates left on the calendar. The auction on Dec 31 will actually be Jan. 1 in Iraq. So they can easily meet (or surpass!!!) the 1345 IQD to 1 USD projection by years end. 1345 is a nice jump, but in Iraqs case not high enough to give them workable numbers. I feel they have to get to 1200 and even up to 1000 before they can get enough positive data to analyze.

Originally Posted by Dinar Cha Ching

Outstanding, 1360 Today!!! 13 point drop!!

I believe that is the largest rise in value thus far. It wouldn't surprise me if they go past the 1345 projection by years end. Finally the Iraqis might meet a self imposed deadline. I would have never bet money on that happening. Shabibi is serious about this continued re-val, obviously.

Originally Posted by Drjansson

Then if it hits 1345 by the end of year what will happen next? are they going to RV it?
if The HCL and FIL will be enacted will it be a boost for the iraq economy?

The latest information we have is a target rate of 1260 by around March 31 of 07. My own personal feeling is they will get to that level faster than March. Here's a paragraph from that article:

Minister Bayan Jabor told Reuters on Monday that the government has targeted an exchange rate to reach 1,260 dinars to the dollar in the first three months of 2007 from the current level of 1,500 to the dollar.

Originally Posted by mab71

Central Bank opens the daily auction of treasury remittances
and denies determining the price of the dollar against the Iraqi dinar
21 December 2006 (Iraq Directory)
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After its price was down for more than a week, the dollar exchange rate rose again in the daily auction of the Iraqi Central Bank, no."822", for buying and selling foreign currencies.

A source in the Bank indicated that the number of banks participating in this auction amounted to 10 banks between governmental and private.

Stressing that the auction came to 1422 dinars to the dollar, and the quantity sold by the bank was fourteen million and '830' thousand dollars, while the quantity purchased by the bank was one million dollar.

The source added that the quantity sold in cash to banks and customers amounted to eight million and '820' thousand dollars, while the quantity sold for remittances outside Iraq reached six million and ten thousand dollars.

On the other hand, an official source in the Iraqi Central Bank denied rumors on the bank seeking to determine the rate of the dollar against the dinar at one thousand dinar.

Stressing that the issue of determining the exchange rate of the dollar against the Iraqi dinar is not possible, now, for two reasons: first, the reserve capacity of the bank is not absolute, and second is the factor of the price increase.

He added: observing the general trends point to higher prices in return for a lack of improvement, which makes the dollar reduction to this value impossible at the present time, in addition to the limited financial capabilities of the Bank.

He explained: that the significant decline in the dollar, directly after the fall of the previous regime, was caused by the flow of billions of dollars to Iraq and distributing them among employees as well as opening exchange and restrictions. He pointed out: that at the present time and because of the deterioration of security and the high rate of inflation, the devaluation of the dollar is not expected at all.

It is noteworthy that some economists pointed out the Bank have sought to reduce the price of the dollar against the Iraqi dinar through the monetary policy which it follows in the opening of the daily auction for treasury remittances.

Central Bank opens the daily auction of treasury remittances | Iraq Updates

Mab, even though this article is dated Dec 21 it is an old article that has been reprinted several times. One problem is we have so many news websites these days they have to fill up their "space" and sometimes just re-publish old articles. Look at the auction # in your article which says #822. If you check the current CBI auction website you'll see we are up to #831. Also the article you posted says the auction came to 1422 IQD/1 USD. The latest auction was really 1360. Thanks for finding all this great information but just wanted to clarify in case anyone was wondering about that rate.