Thread: Iraq/Dinar News. (before Jan.20,2007)

Blood Money From CNN

By Cliff Kincaid
Jan 16, 2007


Faced with outrage over airing a video showing terrorists shooting and killing American soldiers in Iraq, CNN is auctioning off a Hummer it used to cover the liberation of Iraq in order to raise money for wounded vets.

On January 20, the Hummer will be auctioned off by Barrett-Jackson Auction Co. in Scottsdale, Ariz. "We'll be donating all the proceeds to the Fisher House Foundation," said Jennifer L. Martin, a spokesperson for CNN. Fisher House is a program that provides humanitarian assistance to veterans of the Iraq War and their families.

This announcement comes as the Stoney Creek Hospitality Corporation, which operates 10 Stoney Creek Inn hotels in Illinois, Iowa, Missouri and Wisconsin, has dropped CNN and CNN Headline News from its basic cable offerings because CNN aired terrorist videos of American soldiers being killed in Iraq.

Company President James Thompson said of CNN's decision: "I am repulsed by that judgment, and I made a decision of conscience for myself. There comes a time when you either stay silent or speak out, and this was wrong."

In response, Rep. Duncan Hunter called for the Pentagon to expel any CNN reporter embedded with U.S. troops in Iraq. CNSNews.com reported a Hunter spokesman as saying that being embedded with the U.S. military in Iraq is "a privilege, not a right," and CNN violated that right by airing the terrorist video.

"Media Help Kill Our Troops" was how the blog of war characterized it. Yet, one post lamented the Pentagon's failure to expel the CNN Reporters, saying, "...just when I thought the Pentagon would pull all CNN embeds from Iraq, no, I see more of John Roberts, not less. I've cut back to watching just Lou Dobbs, and he sometimes reports current news during his hour, so sometimes John Roberts shows up. How far they have fallen since 9/11.... My country... the only thing that keeps me from sinking into total despair is that I can't give up while My Soldiers are fighting for my country, for people like me..."

And fighting for CNN - so it can air terrorist videos of American soldiers getting killed. No wonder most of our troops hate the media.

Commentary: Blood Money From CNN - The Post Chronicle

Cheers!
DayDream

U.S. ambassador expects progress within months

Updated 1/17/2007

By Rick Jervis, USA TODAY
BAGHDAD — Iraq's leaders will need at least a few more months to hammer out political deals central to President Bush's security overhaul, the outgoing U.S. ambassador said Wednesday.
In an interview with USA TODAY, U.S. Ambassador Zalmay Khalilzad laid out a timetable for Iraqi politicians to resolve long-simmering disagreements, such as how to share Iraq's oil wealth.

Khalilzad also said the United States was "committed to going after" Iranian operatives in Iraq, who he said were responsible for supplying sophisticated bombs used against U.S. forces.

Bush has called on Sunni and Shiite politicians to resolve their differences and help ease sectarian tensions as an additional 21,500 U.S. troops begin arriving in Iraq. There are about 137,000 U.S. troops in Iraq now.

"Iraqi leaders understand that the patience of the American people, the patience of the leadership of the political forces in the United States, is running out," Khalilzad said.

He declined to say whether Iraq's government would face repercussions for not resolving key political issues, calling such talk "counterproductive."

"We have to recognize this is a sovereign country with an elected prime minister," he said. "We can't appear to be dictating in a way that, 'You must do this by this week, you must do this by that week.' "

The initiatives include:

•An oil law Drafters finalized an energy bill Tuesday that would define how Iraq's oil wealth would be distributed to different regions, Khalilzad said.

Sunni-dominated territories possess a relatively small percentage of Iraq's oil reserves, and Sunni politicians want to make sure they receive a share of future royalties.

The bill needs Cabinet approval before the parliament votes on it and will probably take a month to pass into law, Khalilzad said.
(Oh yeah, whats another month? )

•De-Baathification. U.S. officials are reviewing a draft law that would partially lift a ban that prevents former members of Saddam Hussein's Baath Party, most of them Sunnis, from taking government jobs. The law is probably two months away from passage, Khalilzad said.

•Constitutional amendments. A bill that would outline how the Iraqi constitution could be amended — a point of heated debate between Iraq's different sects — is being studied and is "several months" from completion, Khalilzad said.

Khalilzad said Iraqi leaders have agreed to allow U.S. forces unfettered access to Baghdad neighborhoods. Such access is key to disarming militias. "We'll have the freedom of action to go anywhere in the city in pursuing these objectives," he said. "We have to wait and see whether what has been agreed to, which is quite satisfactory, is actually implemented."

U.S. ambassador expects progress within months - USATODAY.com

Cheers!
DayDream

Baghdad-justice ... The House of Representatives held yesterday, Wednesday, the residence allocated for a detailed discussion of the federal Balancing Act (2007), after a quorum.

The meeting was presided over by Vice-President of the Council Dr. Khalid Al-Attiyah. Witnessed a meeting the discussion of financial allocations to the ministries of the environment and health, as has been the first reading of the draft the Ministry of Municipalities and Public Works As to the discussion of the budget, demanded one of the members formation of a committee headed by the the member of the House of Mahdi Al-Hafiz and a number of members of the Council who have experience in the area of the fiscal budget and this because some of the members had rejected the the vote on the draft budget for the year (2007) be "the budget of vague and Al-Attiya said, during the meeting" the vote on the budget will be next week, while session will be devoted today to complete the discussions finalization of the draft budget of Yugoslavia for the year (2007) and demanded Abdel-Latif Alowaeli member the House of Representatives during a meeting to "repeal the ration card to encourage traders on the provision of foodstuffs in the local markets.

Translated version of http://www.aladala.net/home/

Cheers!
DayDream

The receipt and distribution of the share of citizens of oil and gas

The Oil Products Distribution Company agents foodstuffs in Baghdad to review branch in the central region Kilani, for the receipt of the share of citizens and potatoes.

Kerosene and liquid gas for the purpose of direct distribution to citizens. Al Amer Abdaljbar Ismail, deputy general manager of the company who sent the invitation through a press statement that to the brothers and agents to collect the food ration cards of citizens and auditing branch of the central area of the al-Kilani, for the purpose of sealing and perforation by the Commission in charge of the receipt through product kerosene and liquid gas in order to direct distribution to all citizens within the region.

He said the company is willing to cooperate with agents in all areas, including the adoption agents and officials in the transportation and distribution of these articles of the car owners and wagons round. He called Eng Amer Ismail Abdaljbar brothers citizens and agents of foodstuffs to cooperate in the success of this experiment, which is in the interest of the citizens and end the suffering in order to obtain these articles vital.

He added that experience has encountered some difficulties at the beginning of applied only hope that the great success in the cooperation of all and the final outcome will be in favor of the citizen. He added that the company will spare no effort in the distribution of any amount received from the petroleum products and that it is directly distributed every available to it to the citizens and therefore seeks perseverance and efforts to be reflected directly receive any increase in stocks of products on the street and the citizen. And Mr. and assistant manager of the company that there were some the affected parties from this experience trying to hinder or to harm to them through review of a number of negatives that may appear here and there and which will be lost the future with the continue the experiment and refuse richness in gradually The impact will be felt the citizen a remarkable stability, that the God willing, in the process of monopolizes the petroleum products the future together with the requirement of providing them for the Company in sufficient quantities f pointed Eng Amer Abdaljbar Ismail that there study he had prepared the aim of organizing the process of the distribution of petroleum products (paraffin and liquid gas) formulas and new mechanisms contribute in the stability of the case of distribution to citizens and in a just and challenge from the phenomenon of administrative corruption considerably ..

He added that this mechanism is based on Agtmad agent for the products in each region and the equivalent of the Under foodstuffs opened a roster covered by proxy in the light of existing Almalo died in the Under foodstuffs, and the receipt of the oil and gas carriers by hikers officially certified by the company for delivery to the citizens for a price paid wages transfer.

Translated version of http://www.aladala.net/home/

Cheers!
DayDream

KRG lost authority over Kurdistan region’s oil and other resources, new Iraqi law
1/18/2007 KurdishMedia.com
London (KurdishMeida.com) 18 January 2006: The Kurdistan Regional Government has lost control and authority over Kurdistan region's oil, according to the new Iraqi law.

The new Iraqi law gives control over oil all-over Iraq including Kurdistan Region to the Iraqi central government. According to this new law, which would be approved by the Iraqi Assembly, all the contracts, including those between KRG and any oil companies, would be reviewed and would be controlled by the Iraqi central government. The Iraqi oil ministry will have total authority over oil resources in what is known as Iraq.

According to the new law central government controls and distributes the oil revenue by population over Kurdistan population and over Iraqi people.

The KRG has kept quiet over this issue, which implies that they have agreed to the Iraqi central government and to the Americans who want to deal with the central government.

This is indeed a blow to the concept of federal Iraq and Iraqi control over oil resources would be the fundamental pillar of re-creating a centralised Iraqi government. KRG has always argued that it controls the mineral resources in its region, but as it appears, they have lost this control. The KRG argued that the Iraqi constitution supports their claim. Whether the KRG has agreed to change the Iraqi constitution, which they regard as their “historic” achievement, remains to be seen.

Iraqi leaders agree on draft oil law
Web posted at: 1/18/2007 7:46:54
Source ::: Agencies
baghdad • Iraqi officials have agreed a final draft of a law that sets rules for sharing Iraq’s oil wealth and aims to bring in billions of dollars of foreign investment to rebuild the mainstay of the economy.

But crucially, international oil firms waiting for access to the world’s third biggest oil reserves will find little detail in the draft about the form future deals will take. They are likely to hold off major commitments until there is clarity. The draft calls for a federal committee headed by the prime minister to oversee future contracts and review deals signed under Saddam Hussein or by the Kurdish regional government, oil ministry spokesman Asim Jihad said.

Passing an oil law to help settle potentially explosive disputes among Iraq’s ethnic and sectarian communities over the division of oil reserves has been a key demand of the United States in providing further military support to the government.

Iraq’s Oil Committee of senior national and regional leaders has been drawing and redrawing the document for months and missed its own deadline of finalising it by the end of 2006.

The Oil Committee, headed by Deputy Prime Minister Barham Salih, will send the draft to cabinet next week for approval. After that it will go to parliament. Officials hope that the broad base of the negotiating team means it will pass easily. The final draft was in line with earlier versions described last month after a previous round of talks.

A national oil company will be set up to develop production and exports and the law is intended to ensure development of the oil industry across Iraq’s regions, Jihad said. It establishes a mechanism for centralising oil revenues and distributing them to the regions. Jihad refused to say who will negotiate with the international firms but explained a federal council will have the final word on approving the contracts.

The division of oil is a key factor in communal tensions in Iraq. The southern oil fields around Basra lie in territory controlled by competing factions of the dominant Shi’ite Islamist political forces, The northern fields lie on the edge of Iraqi Kurdistan around the city of Kirkuk. Kurds want to annexe the city as their regional capital. The Sunni minority is concentrated in Baghdad and regions immediately to the north and west where there are few known hydrocarbon reserves.
The Peninsula On-line: Qatar's leading English Daily

Expert Calls for Returning Pricing Department

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18 January 2007 (Al-Sabaah)
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An economical expert called the official sides to work hard for returning back department of pricing central panel which canceled through the ex-bad regime.

Dr. Kareem Abdul Razaq from studies and economic researches center in Baghdad University said in a press statement that, the mentioned department was the important controlling side in market movements and as an important part of stooping high prices in the markets since it presenting an observation and executive department at the same time which set a steady economical situation besides enhancing the Iraqi money.

On the other hand, he added that, the mentioned department have the mainly role in the Iraqi economy through its controlling on the economic inflation since it presents danger phenomenon threats the support of the Iraqi economic.

The Central Bank procedures led to the retreat of the dollar against the Iraqi dinar, so when prices will fall?
Waiting for real, concrete results

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18 January 2007 (Iraq Directory)
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The Iraqi dinar improved remarkably these days against the dollar's exchange rate. The Iraqi Central Bank attributed that to the recent procedures it adopted of going on raising interest rates in addition to the introduction of large quantities of foreign currency in the market, but a number of economists believe that these procedures were not sufficient for the recovery of the purchasing power of dinar unless they are accompanied by fiscal and monetary policies able to achieve the required balance. An expert at the Central Bank expected an improvement in the value of the Iraqi dinar and a gradual decline in prices after two months from now.

We note that prices are still stable despite recovering the dinar its value relatively. The reason may be that traders are still clinging to their old prices to make up for the losses which they might be exposed to due to that.

Economy experts considered the reluctance of the (monetary policy) to deal with the great imbalances particularly in the monetary market, represented by the increasing local currency liquidity and the rising inflation rates, in an accelerated manner reverted undoubtedly to a huge impact within the marketplace.

D. Reza Al-Quraishi, from the Faculty of Administration and Economy at Al-Mustansirya University, said: the Iraqi Central Bank is currently working on the stability of the Iraqi dinar exchange rate and not on fixing it. The Central Bank is purchasing Iraqi dinar through the sale of the dollar for many reasons; like obtaining Iraqi currency in order to cover public expenditures and stabilizing the Iraqi dinar exchange rate, but the Bank has only a comparative capacity in this area. The rising reserves of hard currency and especially (the dollar) enables the Central Bank to strengthen the rate of exchange of the Iraqi dinar against the dollar, but these procedures are followed by major impacts that must be taken into account to reduces the negative aspects to the minimum; that is why they need to be carefully and gradually studied. Some economists affirmed that the imbalance in the public budget which began first in (1982) and compelled the present authority to finance the deficit by borrowing money from the Foundation Release, revealed a difference in the rates of exchange in (the parallel market) on the official exchange rate almost immutable and continued to be the case with his position even after launching the system of import without diverting external where the disparity between the official exchange rate and the parallel was limited and slow because, then, was in the hand the Iraqi Ministry of Trade. The foreign trade of Iraq was done at official exchange prices where the trade balance was covered by foreign loans, and when the system of import without diverting external was formally introduced, a hidden trade balance appeared alongside the formal one; it expressed the values of imports and exports through hidden outlets for import and export. Economists pointed out that the price of the parallel market was determined by the deficit in the hidden balance of trade, which was filled automatically by smuggling the Iraqi currency to the neighboring States where the demand for it was for the purposes of futuristic speculative.

These conditions in addition to the several strong shocks which the Iraqi economy was exposed to led to the structural imbalances in the structure of the Iraqi economy and its negative results emerged in the instability of the exchange rate of the Iraqi dinar and its exposure to situations of weakness and deterioration, where it has become very difficult to deal with in the mean time. There should be a clear financial and monetary policy that aims at stabilizing the country's economic situation.

Originally Posted by explorerhot

I believe it will revalue soon but the part "Zubaidi that the Ministry of Finance and in consultation with the Central Bank of seeks to identify the rate of exchange of the dollar the value of in 1260 dinars during the this year with laid down a plan to return the Iraqi dinar to its former era during the coming three years" That is some pretty big news..we have heard it before,but usaully in broken hard to read google translated arabic stuff, this is english. Who wouldnt invest in Dinar if they read in the mainstream media they could buy a million for $850.00 and have close to 3 mill in 3 years time?

edit title: GOOD NEWS not God news...

I can see them r/ving to 1/1 this month and then moving on up to 3+ in 3 years. Works for me!!! This BS about 1260 during this year could mean on Tues night the value = 1260, on Weds night the value = 1/1, in three years the value = 3+. It's all good if it turns out that way.

worf

Transcript of Press Conference by IMF Managing Director Rodrigo de Rato

Transcript of Press Conference by IMF Managing Director Rodrigo de Rato

January 16. 2007
View a Webcast of the press briefing

Participants:
Rodrigo de Rato
IMF Managing Director
John Lipsky
IMF First Deputy Managing Director
Masood Ahmed
IMF External Relations Department Director

QUESTIONER: Thank you. A little over a year ago, the IMF approved a $685 million loan for Iraq. I was wondering what the status of that loan, how much of it has been dispersed at this point, the status of any programs you have in Iraq, and with the ongoing violence and the hopes going forward if this could have any chance of being successful.

MR. DE RATO: Let me say that the discussions between us and the Iraqi Authorities toward completing the next review under the stand-by arrangement are right now going. So we are in the middle of seeing that review, and I cannot give you a specific date when that review will be completed.
We see as positive steps the strengthening of the dinar and certainly a more effective use of monetary policy because inflation has reached very high inflations in 2006 as you all know, and in that respect we were urging the authorities to move into tighter monetary policy. Nevertheless, of course, security considerations in Iraq are crucial. As I said before, I can't give you right now a specific date of when we will complete the review, but I can tell you we are in the middle of it. There is no disbursement because this is a precautionary program, so there have not been any disbursements by us.

(((Rumors have been flying, people paying for information, even folks going to Deli's to talk with Irate folks that listen to the Iraqi radio on a daily bases! It has been a crazy ride! Wonder is when the report is not true or their dates not confirmed or enacted, shall we put what these folks say in the rumor section also? If this is old news, just delete it please!!!)))