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

[texaslonghorns]

I ordered 200,000 more today rate is same as last week. Total was $161.00 with fee. Everytime I get a different teller. I swear they think I am from Mars. They have sold to maybe 2 or 3 different people tops. I would hate to be a $8.00 per hour teller and find out I missed the boat on a once in a lifetime opportunity that I have been selling for next to nothing.

[MrsCK]

Is there any way that this is preperation for the Dinar on the FX?

" I " think so - I have been getting the run around on those website the last 6 hours.

Also the IMF website has posted the November 2006 stats.

I hope SUNDAY AND MONDAY will be good to the POSITIVE FOLKS OF THE ROLCLUB.

GOOD NIGHT ALL

[Trapper t]

Iraqi experts call for activating the Stock Exchange

(صوت العراق) - 15-12-2006(Voice of Iraq) - 12 - 15-2006
ارسل هذا الموضوع لصديقThis issue was sent to a friend

Procedures for the implementation of the Central Bank to curb inflation ... Iraqi experts call for activating the Stock Exchange بغداد – عادل مهدي الحياة - 15/12/06//Baghdad-Adel Mahdi life-15 / 12 / 06 / /

It Economists new Iraqi monetary policy announced by the Central Bank of Iraq and to try to reduce the inflation rate, which increased to 76% «an important step in the context of addressing the phenomenon of dollarization« », which is one of the factors unwanted in the work of the monetary policy». They emphasized that «required to keep the policy of the Central Bank of further measures that will work itself». They called for the need to activate the role of «Stock Exchange and the private sector because they help greatly to the stability of the economic situation and raise the value of the Iraqi dinar».
The expert at the Central Bank of Iraq Majid picture that the oldest by the Central Bank «was in agreement with the superior authorities to curb inflation, the Central Bank therefore taken a series of measures aiming to reduce the impact of inflation and improve the performance of the Iraqi dinar, which increase the value of the Iraqi dinar and to increase the interest rate on the basis that it absorbed part of the liquidity of the people». The increase in the exchange rate of the Iraqi dinar «affect positively in the form of large and directly on the goods, in order to increase its purchasing power, more than it is now».
The economic expert competitor Reza jeweler that «there is instability in the exchange, and to contribute to a rise in the value of the Iraqi dinar».

To reduce the impact of inflation there is a need to activate the performance of daily dealings on the Stock Exchange, because investment in the stock exchange lead to the withdrawal of large amounts of stocks and bonds in the direction of investment, in addition to activating the rest of the actions performed by the private sector in the production of goods and services and the need to support the state.

He called «jeweler to activate the Stock Exchange to ensure the functioning of the circulation of equity and activating the role of the private sector through its lending and to be able to contribute to the advancement and improvement of the economic situation».

The President of the National Assembly to protect the consumer Dia Mkutar that «any policy of the economic reform should be characterized by three features is the President of totalitarianism, independence and democratic approach, and that any policy is not such qualities can not succeed now».

ضرورة الاصلاح الشاملThe need for comprehensive reform

He explained that the process of reform of the banking system and fiscal and monetary isolation from other economic sectors such as industry, agriculture, trade, oil and services «incorrect», stressing that «that matched economic policies, comprehensive, balanced and coordinated, and thus could be a CBE intervention in influencing the exchange rate of the dinar players in the narrow limits if it does not take into account such things».

He said that the Mkutar of the first tasks of the Central Bank Monetary «policies and their implementation, especially in light of the low standard of living of the citizen in general because of the circumstances that Iraq, which cast shadows on the standard of living of the people, and led to a decline in cash income». He emphasized that «the easiest way to increase cash income of the citizen is to increase the rate of the Iraqi dinar against the dollar, since the increase in the exchange rate automatically lead to a feeling of citizen increasing cash income and the impact positively on the real income, which is supposed to operate by economic institutions other government, such as the provision of housing, education, health, transport, and reduce the wages of some government institutions of public utility such as water and electricity».

The cost of corruption cases in Iraq exceeded seven billion dollars

The official in the integrity in Iraq to pass a new law of the fact that «the current law is unable to fight financial and administrative corruption, endemic in Iraq». He pointed out that the public integrity «revealed so far about the issues of corruption valued at over seven billion dollars in different governmental sectors».

The Director General of the integrity in the Furat Ahmed al-Ubaydi on the sidelines of a ceremony organized on the occasion of the World Day to Combat Corruption administrative «» «Experience has shown that the current law on which the body integrity which is unable to respond to the requirements of the Commission's work», «stressing the need to pass a new law that gives greater powers body».

He pointed out that Al-Obaidi, administrative and financial corruption is pervasive in the form of «big in Iraq because of the practices of the former regime, which targeted the value system of the Iraqi society, as well as the administrative mechanisms adopted by the wrong multinational forces that encouraged the spread of financial and administrative corruption in all joints State».

So, it was revealed Obeidi, quoting the carp media spokesman for the public integrity that «body has so far been able to detect corruption cases that exceeded the amount of seven billion dollars». «I hope in the implementation of the plan for the new body integrity at the beginning of the next year to improve the conditions in the Furat», pointing out that «a large number of issues were referred to the courts for deciding, while some remained in the custody».

He explained that the al-Ubaydi «is now eight investigators each of whom is investigating about 80 cases, in addition to taking up the implementation of the resolutions of the investigating magistrate and the codification of the investigation and the statements of the accused, witnesses and the legal representatives in the government».

He called Al-Obaidi, with the various control in the State such as the Office of Financial Supervision and offices of inspectors - general in ministries, as well as civil society organizations and executive bodies that «do more to cooperate with the body to activate its work in the implementation of judicial decisions own».

Translated version of http://www.sotaliraq.com/

Wow it sure looks like this is it folks!! Great post!!!!!
Good luck to all
Trapper

[MrsCK]

WHY WAS THIS NEVER KEPT UP TO DATE ON THE IMF SITE? WHAT HAPPENED IN APRIL?

(in SDRs per Currency unit)
April 28, 2006 0.000460244
April 29, 2005 0.000451682
September 22, 2004 0.000466938
September 08, 2003 2.53758
April 30, 2002 2.53758
April 30, 2000 2.43852
April 30, 1999 2.38074
April 30, 1998 2.38881
April 30, 1997 2.3558
April 30, 1996 2.21848
April 30, 1995 2.04504
April 30, 1994 2.26323
April 30, 1993 2.26004
April 30, 1992 2.34852
April 30, 1991 2.39924
April 30, 1990 2.46985
April 28, 1989 2.48283
April 29, 1988 2.32407
April 30, 1987 2.46269
April 30, 1986 2.73556
April 30, 1985 3.24557

OK BRAIN FREEZE HERE SO SEE YA
NEVER MIND IT'S BY YEAR - TOLD YA I HAD BRAIN FREEZE!!

[postcon]

Can someone pls clear this up for me? According to Wikipedia, "no currency in history has ever appreciated 1000% against the United States dollar, and a currency swing that severe would have negative consequences for Iraq's economy." Would it be possible for the dinar to make such an astronomical appreciation that it equates to a dollar or more?

Secondly, in relation to the Iraqi coins, I cannot think of any country's coins to worth a lot. Currently, Iraq has a 25 dinar coin and a 100 dinar coin. Apparently, there are lower denomination coins as well. If the dinar rises in value to be equal to the dollar, how could they possibly have a coin worth 100 dollars assuming one dinar will be equal to one dollar?

Please excuse me if the above appear stupid but I hope someone can throw some light on these just so I can clear my mind. Thanks in advance.

[neno]

Just a quick report from the Denver desk. I just talked to a nice lady at the main Chase bank here and asked if Chase would be exchanging dinar. There seemed to be a fair bit of rustling around and she told me that there was a LOT of conversation about it at the upper management levels, but as far as she knew, Chase would not be exchanging. First she said it was because it was so worthless. I said, well what about when it revalues? She said she didn't think they would even then, because of.......the patriot act. Anyone else heard this one? She said they because of the US government they probably wouldn't be allowed to exchange even when it did revalue. hmmmm. Before anymore versions came out I thanked her and hung up. I think I'll try Wells Fargo here in a while and see what they have to say.

ourhouse37, I mean NO DISRESPECT to you. But this person you had a conversation with, is in Left Field in Pony League Style. Chase Exchanges Now. Inscrutable has stated it when he bought more dinars and got smaller Denomination on the same day as well as I have confirmed it several Times. I have a BM Freind. As Far as the Patriot act is concerned, This Law overrides that one even it if there was a Patriot Law that covered it: Presidential Order 13303 Good thing you Thanked her and hung-up before anymore confussing came out. By the way I coundn't resist and bought another 1/2 million (5k notes) for X'Mas Gifts from DinarTrade with the Rolclub Discount.

[$onedaysoon$]

just incase anyone missed it ;)

He said that the Mkutar of the first tasks of the Central Bank Monetary «policies and their implementation, especially in light of the low standard of living of the citizen in general because of the circumstances that Iraq, which cast shadows on the standard of living of the people, and led to a decline in cash income». He emphasized that «the easiest way to increase cash income of the citizen is to increase the rate of the Iraqi dinar against the dollar, since the increase in the exchange rate automatically lead to a feeling of citizen increasing cash income and the impact positively on the real income, which is supposed to operate by economic institutions other government, such as the provision of housing, education, health, transport, and reduce the wages of some government institutions of public utility such as water and electricity».

Translated version of http://www.sotaliraq.com/

[H2O_Lover]

Can someone pls clear this up for me? According to Wikipedia, "no currency in history has ever appreciated 1000% against the United States dollar, and a currency swing that severe would have negative consequences for Iraq's economy." Would it be possible for the dinar to make such an astronomical appreciation that it equates to a dollar or more?

Secondly, in relation to the Iraqi coins, I cannot think of any country's coins to worth a lot. Currently, Iraq has a 25 dinar coin and a 100 dinar coin. Apparently, there are lower denomination coins as well. If the dinar rises in value to be equal to the dollar, how could they possibly have a coin worth 100 dollars assuming one dinar will be equal to one dollar?

Please excuse me if the above appear stupid but I hope someone can throw some light on these just so I can clear my mind. Thanks in advance.

The thing i wonder is what the " real " rate is ? We have read that it is a defacto rate or something like that. Time will tell if the less traveled path will prove to be a good one for all us.

[neno]

A couple of days??? hmmmmmm Bank manager states this - my safedinar order will not get here until MONDAY. Has anybody ever ordered on friday and got it on saturday from safedinar?

Plus the news was really dead this week out of iraq, the president website hasn't been updated in 3 days, something smells like a cow patty folks!!

I can tell you that one time awhile ago, I ask Garrett at Safedinar if it r/v'ed over a week-end would I still recieve my order. He said if it has left our presence on a friday before something like this was known, then your shipment is yours. I ask Ali the same thing at DinarTrade. He said the same thing. AsFar as getting it on a Saturday, the answer lies with FedEx. If you wanted to pay the money for it, I am sure they would accomendate. This is FedEx's way of Overnight Shipping from a Friday. So the answer is NO for regular OverNight Shipments.

[MC Dig]

Can someone pls clear this up for me? According to Wikipedia, "no currency in history has ever appreciated 1000% against the United States dollar, and a currency swing that severe would have negative consequences for Iraq's economy." Would it be possible for the dinar to make such an astronomical appreciation that it equates to a dollar or more?

Secondly, in relation to the Iraqi coins, I cannot think of any country's coins to worth a lot. Currently, Iraq has a 25 dinar coin and a 100 dinar coin. Apparently, there are lower denomination coins as well. If the dinar rises in value to be equal to the dollar, how could they possibly have a coin worth 100 dollars assuming one dinar will be equal to one dollar?

Please excuse me if the above appear stupid but I hope someone can throw some light on these just so I can clear my mind. Thanks in advance.

I have heard this a few times, that

"a currency swing that severe would have negative consequences for Iraq's economy"

This is the silliest thing I think I have ever heard. It depends on the direction of the swing. If their currency is suddenly worth much more it can only be good, as long as it does not swing back and forth. The IMF seems to be leading the CBI along fairly well and the international community has too much at stake (ie. dinars in their coffers, oil contracts) to let that happen.

I can't think of one good reason why they can't have coins that are worth $100 or $500 for that matter.

These questions that you are raising are the same ones that are brought up when ever the Dinar is brought up in the mainstream US media.

It is very interesting how biased the reporting has been on the Dinar. It is obvious that the reporters are wholly unaware of all the economic progress being made- they are not reading up on the news here at rollclub; that is for sure.