Thread: Iraq/Dinar News until 5/23/07 Midnight CST

Originally Posted by garthstar

cool it with the freaking out will y'all.

its a reval we are after, not an Oil Summit.

Oil Deals can be signed behind closed doors in Jordan or anywhere safe for that matter, just like laws being passed and enacted, before or after any Summit, and they already have been perhaps?

why the hell would you want, in a war zone, to tell the enemy where to bomb?

do you really think they are gona publish actual meeting dates AND locations in the News. i hope not, for security reasons.

stay positive. . .

they may very well be holding it anyway, in a different location, somwehere terrorist free.

news is not nessecarily fact. its only an indication, and part of the picture.

you also need some kind of a crystal ball, or a good gut, or both. if you are gona be a succesful trader in these crazy but lucrative areas like Iraq Vietnam and Iran.

politics doesnt rule the world. money does. its gonna happen.

Just in case yall miss what was said.....

Sorry to be off topic, Indmn gave me permission to start a new thead .

Dear RolClub members, please go to the link below:

http://www.rolclub.com/iraqi-dinar-d...ood-cause.html

This is a wonderful family in need of support. Please help in whatever manner your heart is lead.

Thanks, John
__________________

intend to activate reconciliation, reconstruction and the imposition of law
الصباحBaghdad-Sabah.
اكدقانونPrime Minister Nuri al-Maliki's government of national unity to activate the initiative of reconciliation and national dialogue and continue the process of reconstruction, rebuilding and implement a plan to impose law




.And Mr. al-Maliki during a telephone call with President George W. Bush to the importance of enhancing cooperation and coordination between the Iraqi forces and the multinational force in the fight against all law-breakers to eliminate the terrorist organizations and armed groups.
.The Prime Minister told the American President keenness of all participants in the political process to discuss and approve the draft laws submitted by the government to the parliament and amendments in the constitution and reconsider the number of independent bodies.
من.Part of the new American president to support the United States to the Iraqi government and to continue the policy of mobilizing regional support for the government, including help in the success of the political process and consolidating security and stability in the country
Translated version of http://www.alsabaah.com/

Big test ...

Aza Hasib Qirdage

Article 140 of the Iraqi constitution is not a solution to the problem of Kirkuk, but it is to solve the Iraq problem in general because they include philosophy, which want the new Iraq built on the foundations of modern rise to the ranks of developed democracy.

It is the way constitutional democracy depends funds polling way to solve the problem of old age estimates of modern Iraq since its inception in the early twenties last century.
Application means the first time that the Iraqi people depend in solving the problem of their boiling peaceful way modern terms will Everyone on the referendum voters expressing their views of their own free will to resolve the thorny issue of politics, economy and social situation, will put in funds crucial referendum saying, one of them says "yes" vote and the other saying "no" and the third and fourth qualify interrupt.

It is a sign of civilized, we solve our problems in terms of count for the first time, free opinion and the way in democratization and the sound way in establishing a solution to our problems which have affected the unity of Iraq and the peace and stability over the years.

Eighty years ago Tejrebon ways exclusion and elimination and Arabization, displacement and deportation and correcting national and Anfal, intimidation and temptation and threat of forced, assassinations and trigger sedition among the components of nationalism Kirkuk prosper you can not change anything, even simple fact Cordstanih Kirkuk Arakitha did not appreciate that they have finally resolved the problem fundamentally do not explode after a period of time, and then let open the way for the application of Article 140 to try this, hoping that the problem will be solved!

Why this blind insistence on re-testing ways Gerpettmoha 80 years did not come warned, the result of increased matters worse, and the tragedy deeper and more painful wound?

Why do you want to understand the truth that lies at the heart of Article 140 where it big test for those who want to stay on the unity of Iraq and countries because the State in its application apply to the survival of a unified Iraq, where various components exercise their constitutional right to say yes to living together in peace and harmony and keep their city a symbol of coexistence of nationalities, Otherwise, it is not insisting on the application of article and return to the old ways previously tested only mean work on the clash of components and exclude each other.
What we have benefited from your solution methods in Baghdad and other cities? What embryo - calamity and thousands of deaths and total destruction of infrastructure and social and humanitarian tragedies leave Iraq, but easy prey terrorism and the eyes, then why do you insist on this method of solving the problem of Kirkuk and other areas also?Did not hide the blood, killed, made homeless?

That article 140 constitutional solution to the problem, but this is not in itself a problem or inflate them to postpone or turn to the Federal Court or to the Security Council despite the fact that people moving Alkordi it will win eventually defeated in a constitutional solution to the problem and also swept the difficulties and succeeded in examinations previous defeated Baath.

The application of Article 140 is the most difficult test for whoever wants to stabilize Iraq and originates a new cycle of growth and enhancement on the grounds of social and political healthy and sturdy build their own free the Iraqi people, relying on the Constitution, which voted yes to him.

Articles published reflect the viewpoint of their owners and do not necessarily reflect the opinion of the site.

KRG, Kurdistan Regional Government

Parliament and the legal and financial




نوري صبيحNouri Sobeih
ان لماليةThat the parliament as the legislative power to enact various laws and the issuance of not inconsistent with the provisions of the Constitution in force for 2005, and that the Constitution needs to be legislated more than (60) legally, for the House of Representatives, particularly members of each of the various committees to submit draft laws for the various financial disciplines



.The social, political and economic conditions of the Legal Committee for the purpose of study and draft laws and to serve according to their citizens for approval and make laws and oversee the implementation of the performance of the executive authority (the Presidency and the Council of Ministers .. And all ministries), as well as independent bodies, The time spent for law and legislation in force as of the date of publication in the Official Gazette (The Iraqi) amounts (60) days in the best of cases, in addition to the proposal of the executive authority of a number of bills guaranteed to them in the heart of the constitutional article (80) of the Constitution, paragraph II (proposal bills), The bills require the members of the House permanent presence and the continued and full quorum to hold meetings (the House of Representatives) by an absolute majority (139) members, and more than one hundred members of the House absent continuously without the expense or take resolute action against them by the Presidency Council, as well as the absence of a specific mechanism or adoption in the House of Representatives in attendance and how to place and time, the Commission shall consist of (7 15) Is a member hearings will be held the House of Representatives (commissions) at the same venue of the House or other halls and chambers and the presence of the members of these committees have yet to hear any activity especially at the beginning of the second legislative chapter, as a result of administrative and financial corruption is rife in all corners and joints government and many reasons, we believe the priorities of the House issuance of this legislation, The necessary laws for the purpose of controlling and accounting, control and establish the rule of law for everyone and from the top of the three legislative judiciary and the executive which according to the Constitution in force for 2005.
المادةالدستورArticle (63) of the Constitution
اولان.First define the rights and privileges of the House Speaker, VP and members of the law.
(74) of the Constitution
(يحدد ).(The law of salary and allowances of the President of the Republic).
الدستورArticle (82) of the Constitution
(.(The law of the salaries and allowances of the President and members of the Council, who are Pedrojtahem.
الدستورArticle (91) of the Constitution
ثالثا.Third : (draft budget proposal annual federal jurisdiction, and presented to the House of Representatives for approval.
.Article (86) of the Constitution.
.The law regulates the formation of ministries and functions, terms of reference and powers of the Minister.
دستورArticle (102) of the Constitution
تعد.The Office of the High Commissioner for Human Rights, the Office of the Independent Electoral Commission, and the integrity, autonomous bodies under the control of the House of Representatives, and its governing law.
(103) of the Constitution
.First is the Iraqi Central Bank, the Office of Financial Supervision, and the media and Allatsalat, Cabinets Endowments bodies financially and administratively independent, the law regulates the work of each body.

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

Kuwait unhooks dinar and dollar, signaling a possible trend

By Wanfeng Zhou, MarketWatch
Last Update: 6:38 PM ET May 21, 2007


NEW YORK (MarketWatch) -- The Central Bank of Kuwait's decision over the weekend to untie its currency from the U.S. dollar might signal a growing trend among global central banks, especially those with large foreign-exchange reserves, to more actively manage their currencies.
And such a shift is likely to put the U.S. dollar under increasing pressure, analysts said.
Kuwait on Sunday, in a move to combat inflation, abandoned its dinar's peg to the U.S. dollar in favor of a basket of international currencies. The dinar had been pegged against the dollar since 2003. The central bank has not announced the composition of its currency basket. Kuwait also announced it would revalue the dinar by 0.37% against the dollar.
Weakness in the U.S. dollar has pushed up inflation and hurt the domestic economy, the central bank said.
"The significant drop in the exchange rate of the American dollar against most other major currencies had a negative impact on the Kuwaiti economy over the past two years," Sheikh Salem Abdel Aziz Al Sabah, governor of the central bank, told the official Kuwait news agency.
"In the Middle East, it's a story of dollar-concentration risk," said Stephen Roach, chief economist of Morgan Stanley. Kuwait's just-announced decision "may well be the first step in a regional diversification strategy that attempts to temper such risks," he said.
Oil producers in the Gulf not only price their one commodity -- oil -- in dollars, but their currencies for the most part are also dollar-pegged, Roach said.
"As a result, their foreign exchange reserves are massively overweight dollars," he said. "The region worries increasingly about excessive exposure to a chronically weak dollar scenario as an unavoidable outgrowth of a prolonged U.S. current account adjustment."
Growing speculation that the Federal Reserve will lower interest rates to spur the economy even as central banks elsewhere continue to tighten monetary policies pushed the dollar to an all-time low against the euro and a 26-year trough against the British pound last month.
Inflation in Kuwait stood at around 3% last year, consistently above the central bank's 2% target.
"Moreover, with the dollar's steady decline, the dinar has followed suit. This has made European imports more expensive, which is an important consideration for Kuwaitis," said Charmaine Buskas, economist at Moody's Economy.com.
"The Central Bank of Kuwait's decision shows a recognition that a dollar peg does not provide the flexibility small countries need in a global economy," she said.
Follow suit
The move by Kuwait sparked speculation other members of the Gulf Cooperation Council -- Saudi Arabia, U.A.E., Qatar, Oman and Bahrain -- will soon follow suit. However, these countries have promised to keep the dollar peg for now.
Some analysts say the U.A.E. and Qatar are the most likely candidate because both countries have by far the strongest price pressures in the Gulf region.
"With Kuwait's non-concerted move, the 2010 deadline for the launch of a single currency has become even more at risk," said Koceila Maames, Africa and Middle East economist at French bank Calyon. "What the other Gulf countries will do preliminary hinges on the fate of the ongoing monetary union process."
"If the next few weeks/months confirm further questioning of the monetary union project, the U.A.E. and Qatar will be the next candidates for revaluations, be it straight ones or through a peg to basket of currencies," the analyst said in a research note.
In the big picture, Moody's Buskas said the move by Kuwait suggested that "currencies pegged to the dollar will increasingly come under pressure as the dollar continues to adjust lower."
"Countries in the Middle East and throughout Asia will increasingly be forced to reconsider their pegs to the dollar," she said. "The trend to de-peg from the dollar and move to a basket will most likely affect other Asian countries, newly emboldened by China's recent decision to widen its yuan-dollar trading band to 0.5% from 0.3%."
This trend has been widely discussed "as a long-term dollar drag" and one likely to continue as central banks with large reserves "become more proactive in managing their currencies," she said.
Dollar negative
Kuwait's decision to drop its currency peg to the dollar had a muted impact on the currency market Monday.
"The market is temporarily distracted," said Brian Dolan, chief currency strategist at Forex.com, a division of Gain Capital. "Had a move like that come a month ago, you would have seen the dollar weaken much more significantly."
"It certainly represents further diversification away from the dollar," he said. "It'll reverberate once the dollar direction turns negative again."
The limited reaction in the market also reflected the fact that the dollar weighting in the dinar's basket peg will initially remain at a relatively high level, likely making up 75% to 80% of the new basket.
But the dollar's share will be reduced gradually, said analysts at BNP Paribas. Russia's move towards a currency basket, where the weighting of the euro is now dominant, can be used as an example, they said.
Global central banks' ongoing reserve diversification has been a main factor weighing on the U.S. currency and Treasury market in recent years. Many people argue because foreign central banks have played a vital role in financing U.S. borrowing by buying U.S. debt, a diminished appetite for dollar-denominated reserves could have a significantly negative impact on the dollar and the U.S. economy.
The news from Kuwait "cannot be seen as U.S.-dollar supportive," said Dennis Gartman of the Gartman Letter. "For if Kuwait, who owes the U.S. so much for having liberated it from Iraq's clutches in the war there during Bush senior's tenure in office, abandons the dollar, what then of the other currencies of the world still pegged to the dollar?"
Wanfeng Zhou is a markets reporter in New York.


Kuwait unhooks dinar and dollar, signaling a possible trend - MarketWatch

Under the President's visit Kurdstan government territory and the delegation accompanying him to the Iraqi capital, Baghdad, for the completion of talks with the Iraqi government on a number of issues including the oil, gas and the distribution of wealth and Article 140 of the Constitution, today, Monday, a meeting between a delegation headed by Mr. territory Kurdstan Najirfan Barzani and Dr. Nuri Kamal al-Maliki Prime Minister of Iraq, where the two sides discussed the situation and developments on the Iraqi arenas and Alcordstanih relations between the territorial government and the Iraqi government, in addition to discussing the oil, gas and the distribution of wealth and Article 140 of the Constitution and the budget allocated to Bischmaraka Kurdstan forces, which are scheduled to become part of the Iraqi defense system and the overall budget of Kurdstan territory, as the two sides exchanged views on a number of issue of political and administrative bodies.

.Following the completion of the meeting, held by al-Maliki and Najirfan Barzani held a joint press conference, during which Barzani emphasized on the support of the territorial government of the Iraqi government.

.In that regard, Mr. Jabar aide-de-camp spokesman for the general command of the forces Bischmaraka Kurdstan exclusively told PUKmedia it will be held tomorrow, Tuesday lengthy meeting at the residence of the President of Kurdstan government territory in the region Al_khasrae on the details of the expenses Troops Territory "Bischmaraka Kurdstan" attended a high-level delegation from the Iraqi government headed by Dr. Muwaffaq Al-Rubaie, national security adviser delegation from the multinational forces and two delegations from the British embassy and the American Baghdad.

يذكر.It is noteworthy that the reformulation of the Iraqi Constitution referred questions law distribution of wealth and the powers of provinces and Article 140 of the Iraqi Constitution and the normalization of the situation in Kirkuk and other areas in Iraq, disputed, to the heads and leaders of political blocs and entities in order to reach a final solution in this regard.

هذا .This confirmed Alcordstanih leadership has repeatedly expressed total rejection of any delay or amend Article 140 of the Constitution.

لـ PUKmedia :For further details on today's meeting between the delegations of the Iraqi government and the provincial government of Kurdstan, click here to hear a statement Jabbar told PUKmedia aide-de-camp :



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Abandoning KD''s peg to USD won''t take toll on GCC unified currency -- ECO-GCC-KUWAIT-AL ATTIYAH
Abandoning KD's peg to USD won't take toll on GCC unified currency --
Al-Attiyah By Abdul-Razaq Al-Huzami RIYADH, May 21 (KUNA) -- Kuwait's decision to unshackle its dinar from the US dollar shifting the exchange rate mechanism to a basket of main currencies is not likely to take toll on the proposed Gulf Cooperation Council (GCC) unified currency, GCC Secretary General Abdulrahman Al-Attiyah said.

In an interview with the Kuwait News Agency (KUNA), Al-Attiyah praised statements by governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdul-Aziz Al-Sabah confirming Kuwait's commitment to achieving the GCC monetary union and issuing the unified currency as a "strategic target and a complementary stage" to which all the Bloc's member states committed themselves.

The GCC members have ratified the bloc's economic pact which provides that the member states would work together on setting up a monetary union and issuing a unified currency as well as setting the criteria for economic convergence, Al-Attiyah said.

He expressed hope that the step taken by Kuwait for "temporary conditions", namely the plunge of the USD, would not impact the country's persistent efforts together with fellow members to set up the union and issue the unified currency.

The GCC Secretary General referred in that respect to the Kuwait's Paper adopted by the last GCC Summit for bolstering the Gulf bloc so that it could counter regional and international challenges.

"The Paper stressed the development dimension, abolishing the obstacles impeding the GCC customs barriers, issuing the Gulf currency and completing the requirements for the common GCC market," he noted. (end) ay.
msa



KUNA 211732 May 07NNNN


Kuna site|Story page|Abandoning KD''s peg to USD won''t take toll on GC...5/21/2007

Too early for GCC unified currency -- KCCI chairman ECO-KUWAIT-GCC-CURRENCY-ALGHANEM
Too early for GCC unified currency -- KCCI chairman
(By Ahmed Hajaji) KUWAIT, May 21 (KUNA) -- It is yet too early to think of issuing a unified currency for the Gulf Cooperation Council (GCC), chairman of the Kuwait Chamber of Commerce and Industry (KCCI) Ali Al-Ghanem said on Monday.

There is plenty of matters that have to be considered regarding the relations among the GCC member states prior to thinking of a unified currency for the bloc, Al-Ghanem told the Kuwait News Agency (KUNA) noting that it "is my personal opinion." Al-Ghanem's statements came one day after the Central Bank of Kuwait (CBK) released the Kuwaiti dinar from the USD peg linking it to a basket of main currencies, which some observers saw as an indication of a potential delay in the launch of the GCC unified currency slated for 2010.

On the CBK Sunday decision, the KCCI chief expected the step would bear fruits for Kuwait's economy especially controlling inflation.

"In addition, unshackling the dinar from the USD would set the Kuwaiti currency free, not only against the dollar but other currencies as well, which will in turn influence imports especially by the euro" Al-Ghanem said noting that USD tumbling before the euro had negative impact on consumers.

According to Al-Ghanem, disengaging the KD from the USD will also curb the fluctuations of the rate of exchange.

The Kuwaiti government had decided in October, 2002 to link the dinar to the USD responding to a resolution by the Higher Council of the GCC Leaders on fixing the GCC currencies against the USD paving the way for the setting up a Gulf monetary union and issuing a unified currency.(end) agg.ws.
msa



KUNA 211820 May 07NNNN


Kuna site|Story page|Too early for GCC unified currency -- KCCI chairm...5/21/2007

Hey guys and gals what to make of this rescheduling of the oil conference?
Any thoughts would be welcome.