Thread: Iraq/Dinar News. before Febuary 2nd 2006

Originally Posted by Mike5200

High inflation and economic vision to curb unchecked
بغداد- ينا
Baghdad - Linas

والمستهلك فرصا جيا
An economic expert confirmed that inflation is endemic of the problems that beset much of the economic issues which now requires moves to control it before it is too late. He said Dr. Kareem Abdul-Razzaq of the Center of Studies and Economic Research in a statement Sunday : "The causes of inflation in Iraq have nothing to do with the nature of economic resources such as oil and other natural resources or stop export operations Awastenavha, but linked Bamurkthirh contributed to the escalation, the first of the security situation deteriorating in addition to the absence of effective operational plans to control it." He added : "The feet of the former regime to issue local currency disregard for the planning, programming correct heavily burdened Iraq, which contributed to the manipulation of the World Bank on the current Iraqi government to raise fuel prices for the downfall." He pointed out : "There are steps to curb inflation which direction to determine growth rates in the currency bloc and coordination with the Ministry of Finance to open the auction for remittances treasury, and an auction of the dollar, and interest rates, as well as the practical and scientific procedures followed in the advanced countries of the world." He added : "The lifting of the exchange value of the dinar against the dollar is an important factor in the development of the Iraqi economy, including allowing each consumer and investor opportunities to make their own decisions and therefore helps to improve prices and the elimination of the phenomenon of serious inflation gradually



Link Translated version of جريدة المواطن العراقية
__1-29-07 Article, Lifting the exchange rate
________________

AWESOME FIND MIKE!!!!!!!

Originally Posted by neno

Isn't this
Getting
"Exciting Again".

FARMMMMMMMMMMMMM
JIGGGGGGGGGGGGGGGGG

BACK AT YA NENO!!!!!!!!!!!!

Originally Posted by billknows

As for the role of the budget in raising the value of the dinar against the dollar, Azzubeidi said that a decision was made to raise the value of the dinar against the dollar in the budget, and the rate was determined purely by 1260 dinar, hoping to return to its normal state like the Gulf currency, as befits a country rich in oil and other wealth, and hoping to decrease the rate of the dollar to 1000 dinar during the three or four years.

1. A decision was made to raise the value of the dinar against the dollar in the budget

2. Hoping to return to its normal state like the Gulf currency

3. As befits a country rich in oil and other wealth

From these three points, we can see that the dinar will rise considerably in value when the budget is approved fairly soon now.

The currency will resemble closely something at least on an average of all the Gulf currencies or higher depending on the meaning of 'its' normal value'.

This would only be fitting for a country so rich in oil and other commodities.

Other information, such as 'the rate was determined purely by 1260 dinar' or 'hoping to decrease the rate of the dollar to 1000 dinar during the three or four years' have no relevance or connection (background clutter that cannot be correlated logically to the main points).

This news item is current and should be a source of great encouragement!

I've wondered for some time now if the 1260 rate is simply an arbitrary or concocted rate used solely for creating their budget. Putting a budget together knowing everything is going to change but not knowing to what rate would be extremely difficult as an understatement. You would have to use some sort of baseline. This thought does not tie in the 1000 in 3 years statement.

Originally Posted by DinarDevildog

الاجانبIraqi bodies on the Stock Exchange for the preparation instructions for handling foreigners



The Board of Governors of the Iraq market of securities to form a committee of expert members of the Council and representatives of the Federation of securities intermediaries in Iraq whose mission is to prepare instructions on the international arena for non-Iraqis in the market after the issuance of the Investment Law, taking into account the experiences of Arab stock exchanges in this regard.
من شركةIt was also decided to form a committee of other expert members of the Council to study the regulatory instructions for electronic trading received from the company OMXOMX مع .Swedish specialized processing and installed networks Stock Exchange and the final opinion getting ready to be translated into practical reality, and preparing for the introduction of the Asian Clearing coordination with the Central Bank for the electronic link with them.

و .And recall that the Iraq market for securities began the implementation of an expanded program to train workers in the areas of electronic trading, the central depository and clearing commerce, in terms of number of employees in specialized courses in this regard was organized in Amman for a period of thirty days, and will continue to send the market the rest of the staff training, in addition to the participation of brokerage companies and brokerage offices in banks in the training program in order to prepare them to deal with the new electronic.

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As the saying goes...........WOOTnice one Thanks for posting

Originally Posted by One Oar

I've wondered for some time now if the 1260 rate is simply an arbitrary or concocted rate used solely for creating their budget. Putting a budget together knowing everything is going to change but not knowing to what rate would be extremely difficult as an understatement. You would have to use some sort of baseline. This thought does not tie in the 1000 in 3 years statement.

Since the budget is the vehicle they will use to increase the dinar rate 'to its' normal state' appropriate for a country so rich in oil and other commodities - it can't possibly happen with a baseline of 1260. The baseline they are using is what they aren't telling us - the revalued dinar rate.

Originally Posted by adm

I agree but something just doesn't smell right, now.

hmm, kurds arent happy with the budget. you suppose they might be trying to get a smaller figure passed by for the rate than the kurds are willing to accept???

lets face it, the kurds arent the ones who would want a delay goin on so its got to be a good reason, good for the benefit of the country, or they wouldnt be saying anything. they want it to be right from the start and i dont blame them, its their future and their childrens future. moreso than just cashing in their dinar.

Originally Posted by billknows

Since the budget is the vehicle they will use to increase the dinar rate 'to its' normal state' appropriate for a country so rich in oil and other commodities - it can't possibly happen with a baseline of 1260. The baseline they are using is what they aren't telling us - the revalued dinar rate.

Would anyone like to comment on the Iraqis (CBI) keeping two sets of books?
I remember a little while back when this was a big find here.

One set of books for this arbitrary or concocted rate of 1260?

The other is for when they decide to make a BIGchange in the exchange rate.

TNT

Originally Posted by adm

I agree but something just doesn't smell right, now.

Originally Posted by worf

Quote:
Originally Posted by shotgunsusie
tis indeed a woOt. it says to me that in the days ahead they are going to raise the rate but there will be no announcement or news about it until after they actually do it.




Sometimes I wonder if the Iraqis are trying to get their name in the Guiness book of world records in the category of stalling and delaying implimentation of laws passed by a soverign nation. How long can they delay implimentation of a law (fil) that they have already passed? Going on 3 months, do I hear 4? How about probably a lot of other bills/laws passed and just sitting there waiting to be implimented? Heck, they couldn't even spend all of the money sitting in their bank accounts that was already approved for reconstruction!!

Now as we approach month 2 out of 12 months in a year, they still haven't passed the "real budget". Of course the news reported they passed the budget last year. We were told it was the largest ever, 41 billion dollars. Then we were told they passed another law that the govt was required to do all of its' spending in dinars. Then we for a short time was told the budget was actually going to be 44 billion dollars. Then we were told they were trying to but haven't been able to pass "the real budget". We've been told that they were on the verge for what 3 weeks now? Then of course there is the hcl law which was supposed to be passed before the end of last year. Then the news media said it was passed. Then the Kurds said oh, no it's not!! And now we wait, and wait and wait.

Meanwhile we investors just sit back and wait 'cause its all we can do (and pray). These Iraqis are their own worst enemy. Forget about Al Keida, Iranians, and the insurgency. They don't need 'em. They have themselves as their own worst enemy. LOL SSSSHHHHEEEESSSSSHHHHH!!!! Would they just do their jobs for once? Hey, Mr. Iraqi politiican, look outside your ivory tower for once. Your countryman are dying out there.

worf

i understand everyones impatience with this whole thing and i can sympathize. but i want everyone to stand back without dinar in their hands for a minute and look at this from an iraqis point of view. this is their country, their future, their foundation, they more than any of us want this thing to be over and to have it done right. if you are eating and have a roof over your head and are free, then your impatience isnt on the same level.

like ive said a million times before and will continue to say "IN THEIR OWN TIME". this is the first time they have had to rebuild their country and step up and be responsible for it, i see them doing both of these things. i read about the progress that has happened and im thrilled beyond belief. until one can get on a level where these are the things that remove you from your self-gratifying impatience then youre going to continue to be miserable and negative about every moment that goes by that doesnt put money in YOUR hands.

they want it done and they want it done their way so as to enforce the pride of self-sustainance. im willing to stand behind their fight and not in front yelling at them.

Originally Posted by shotgunsusie

i understand everyones impatience with this whole thing and i can sympathize. but i want everyone to stand back without dinar in their hands for a minute and look at this from an iraqis point of view. this is their country, their future, their foundation, they more than any of us want this thing to be over and to have it done right. if you are eating and have a roof over your head and are free, then your impatience isnt on the same level.

like ive said a million times before and will continue to say "IN THEIR OWN TIME". this is the first time they have had to rebuild their country and step up and be responsible for it, i see them doing both of these things. i read about the progress that has happened and im thrilled beyond belief. until one can get on a level where these are the things that remove you from your self-gratifying impatience then youre going to continue to be miserable and negative about every moment that goes by that doesnt put money in YOUR hands.

they want it done and they want it done their way so as to enforce the pride of self-sustainance. im willing to stand behind their fight and not in front yelling at them.

WoW, I do not know of a single person who could of said it better. This should make people open there eyes and think. Thanks Susie.

Gloribee

Number of banks 16 -----
Auction price selling dinar / US $ 1292 -----
Auction price buying dinar / US $ 1290 -----
Amount sold at auction price (US $) 99.235.000 -----
Amount purchased at Auction price (US $) 1.000.000
Total offers for buying (US $) 99.235.000 -----
Total offers for selling (US $) 1.000.000


Gooooooooooooood Morning RolClub

Well, we are now past 4 trillion.


1. A 0 point change in the dinar today. Was 1292, now 1292

2. A (net) worth of dinars, IQD - 126,919,620,000 pulled out of circulation today, 1/28/07

3. 16 banks participating today

4. 70th auction since the beginning of CBI's reval plan

5. 120 days into the CBI's reval plan.

6. 4,125,586,620,000 dinars pulled from circulation !!

7. 1,290,000,000 Dinars back into circulation today !!

8. 185 dinar change since Oct 1st (baseline was 1477) 12.525% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1292 at the end of last week, 1292 this week.

10. 33 point drop so far in the month of Jan. Ended at 1325 in Dec, now stands at 1292