Thread: Iraqi/Dinar news until March 1st, 2007

Originally Posted by Jetsa

Even more interesting....

No Dinar Leaving Iraq

--------------------------------------------------------------------------------

What do you make of this? Just recv'd this from my husband who is working in Iraq.

Embassy of the United States of America

Baghdad, Iraq



WARDEN MESSAGE

February 23, 2007

The Embassy requests that wardens pass the following message in its
entirety to members of the American community:

The Ministry of Foreign Affairs of the Republic of Iraq has released
updated regulations for non-Iraqi nationals exiting Iraq with foreign
or
Iraqi currency.

Since December 25, 2005, Iraqi law has prohibited non-Iraqi adults
from
transporting more than U.S. $10,000 in cash out of Iraq. Iraqi law
also
prohibits carrying out more than 100 grams of gold. As of February
21,
2007, Iraqi law now prohibits non-Iraqi adults from transporting any
Iraqi currency out of the country.

Iraqi customs personnel are taking action to enforce this law and may
pose related questions to travelers during immigration and customs
exit
procedures. (Civil customs personnel also will verify passport
annotations related to any items such as foreign currency, gold
jewelry,
or merchandise that were declared by passengers upon entry into Iraq
on
Form-8.)

This is very good news. It means that the Dinar is now considered valuable enough to restrict it from leaving the country.

Why would I say that? It is because they had a law in 2005 that specified only Amercian Dollars and gold were restricted from leaving the country. Why were American Dollars restricted from leaving Iraq??? Because, the Dollar was the defacto currency of Iraq at that time and it was considered necessary for the Iraqi economy at the time.

Now jump forward to today. They have just placed official restrictions upon the removal of Iraqi Dinar from the country. Why would they officially do this? Because the Dinar is now considered as valuable as the Dollar if not more so for the Iraqi economy. It is time to keep it in house so to speak.

If you don't think this is true, then ask yourself this---->why didn't they have a law protecting the Iraqi Dinar from leaving the country till now? Why not have the Dinar protected back in 2005 along with the Dollar?

Funny thing about that law regarding the 100 grams of gold. When my father was over in Iraq as a contractor, he used to tell me stories about how cheap gold jewelry was in Iraq, compared to the states. The quality is better too (24 karat gold in Iraq vs. 18 karat gold here). He said that a lot of the contractors would buy jewelry over there and then wear it home in order to avoid customs. Wonder if they will be cracking down on that. Hmm, thought we lived in a free market economy, but I guess not, eh?

Originally Posted by Lunar

Announcement No.(870)

D.G. of Foreign Exchange Control

The 870 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/ 2/ 25 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1282 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 50.450.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 50.450.000 -----
Total offers for selling (US $) ----- -----

The above price represent reference rate and does not form any commitment on the Central Bank of Iraq.

Note: The prices of the bulletin issued on Sunday will adopted for Monday also due to the weekend in New York .

1. Note that : * the sale price of remittances dinars (1281) / $. Sale price * cash (1293) dinars / $. 2. The quantity sold, the amount of cash (12.230.000) $ and the amount of remittances (38.220.000) dollars.


still less than a million per bank staying in country

"The Cabinet discussed the draft Thursday but failed to reach an agreement. Once the Cabinet signs off, the measure goes to parliament for final approval once the legsilators return from a recess early next month."

RECESS?....My daughter is in first grade and if she doesen't finish her work she gets detention not RECESS!!!!:

1800 Kurdish troops headed to Baghdad to take part in the security plan

(Voice of Iraq) - 25-02-2007

.Arbil - (DPA) - A source in the fourth infantry brigade of continued of the Iraqi Ministry of Defense that the Kurdish went yesterday Irbil to Baghdad to take part in the security plan new. He said Brigadier Nazir Assem Curran commander of the infantry brigade Waller I sold two of the task force in the Iraqi army suffered concentrated in Arbil in a press statement that the participation in this the new security plan is evidence that the Kurdistan region roadblocks automatic Iraq, we are part of the Iraqi army.

He pointed out that the number of soldiers headed yesterday to Baghdad d is a soldier in 1800 and added that this number exceeds the number of Damocles j was expected to participate in the implementation of the security plan, which was estimated at 1700 troops and said that the evidence of the keen genies Dr. in the province to participate in the plan.

And on the extent of the readiness of these forces to take over security tasks in the b Baghdad said Curran our forces ready has crossed all Jano d sessions military successfully completed their training and they on standby to work to restore security to D soft Baghdad.
Opinion Jordanian

Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Originally Posted by PAn8tv

"The Cabinet discussed the draft Thursday but failed to reach an agreement. Once the Cabinet signs off, the measure goes to parliament for final approval once the legsilators return from a recess early next month."

RECESS?....My daughter is in first grade and if she doesen't finish her work she gets detention not RECESS!!!!:

and we know that they HAD reached an agreement on saturday therefore signing off to parliament. are we to wait all this week while they are on break before they return next week one questions...

Originally Posted by shotgunsusie

and we know that they HAD reached an agreement on saturday therefore signing off to parliament. are we to wait all this week while they are on break before they return next week one questions...

jUst wondering, thought you had recieved a phone call it was all done? Can you get back to your source to confirm it already happened? thanks.

American Thinker Blog: The Battle of Baghdad

February 24, 2007
The Battle of Baghdad
Greg Richards

".....

Both the Dems in Washington and the bad guys in Iraq have the same strategy - the "slow bleed." Our role as citizens is not to assume disaster in the absence of facts. It is likely that success in Iraq will be a patchwork quilt - meaning success here and then there, building to a successful whole over a long period of time. I continue to be impressed by the strong rally in the Iraqi dinar over the last three months, which continues. It is now up 15% since October, a very large move for a currency. The Central Bank of Iraq (CBI) has increased interest rates during this period, but that would not be sufficient to move the dinar this way, in our view, if there were panic in Iraq about the future.

If they are not panicking in Iraq, let's not panic here at home. We have the first team in the field, and they are pressing the opposition. Let's give them the support to press on, remembering that the outcome in Iraq is a matter of high consequence for us all. We are fighting the bad guys in Iraq; far preferable to fighting them here.

Kurds OK oil bill, clearing way for U.S.-backed plan

SULAIMANIYAH, Iraq -- Kurdish authorities have agreed to back a draft law to manage and share Iraq's vast oil wealth, removing the last major obstacle to approving the measure and meeting a key U.S. benchmark in Iraq, a top Kurdish official said Saturday.

Approval of a new oil law could help open the way for international oil companies to invest billions to upgrade Iraq's decrepit wells and pipelines and exploit the country's reserves, among the world's largest.

The bill also provides a formula for distributing revenues among all major ethnic and religious groups, easing Sunni fears of being cut out of a future bonanza because their central and western homelands lack extensive reserves.

Massoud Barzani, president of the self-governing Kurdish administration in the north, announced the agreement at a news conference with U.S. Ambassador Zalmay Khalilzad and Iraqi President Jalal Talabani.

Barzani said he and Talabani had discussed the latest draft law by telephone with Iraqi Prime Minister Nouri al-Maliki.

"We reached a final agreement," Barzani said. "We accept the draft."

There was no comment on the announcement from Khalilzad or Talabani, and Barzani did not elaborate. It was unclear whether new concessions had to be made to win his approval.

Al-Maliki's government had promised to enact a new oil law by the end of 2006 but missed the deadline due to objections from the Kurds, who wanted a greater role in awarding contracts and administering the revenues.

Once al-Maliki's Cabinet signs off, the measure will go to parliament for final approval. Legislators will return from a recess early next month.

The Bush administration, facing growing pressure to end the Iraq war, has been urging the Iraqis to finish the new oil law.

Iraq has 115 billion barrels of proven oil reserves, the fourth-largest after Saudi Arabia, Canada and Iran. Potential reserves -- those expected to be discovered from future exploration -- are estimated at 215 billion barrels, according to Middle East Economic Survey.

According to Iraqis familiar with the deliberations, the draft law would offer international oil companies several investment options, including production-sharing agreements.

Those would give U.S. and other companies a substantial share of the oil revenues to recover their initial investments and then allow them big tax breaks.

That angers some Iraqis, who believe that foreigners will get too much control of the nation's wealth.

But the biggest battle is over who gets the most say in awarding contracts and managing the revenues. The Kurds, who have run their own ministate in the north since 1991, want regional administrations to have a bigger role.

Most of the country's proven oil reserves lie in the Kurdish north or the Shiite south, which also wants to establish a self-ruled region. That has led the Sunnis to demand more power for the central government, to assure them a share of the wealth.

To win Kurdish approval, the current draft gives a major role to the regional administrations in awarding contracts but allows a committee under the prime minister to review them.

To satisfy the Sunnis, oil revenues would be distributed to the 18 provinces based on their populations -- not on whether they have oil. It's unclear whether Sunni Arabs would accept a population-based formula, since they have consistently challenged figures showing them as a minority.

I smell a reval around the corner.....

Originally Posted by pbrman71

I smell a reval around the corner.....

Welcome pbrman71, I have seen your posts on other forums, might this be a veiled hint?