Thread: Iraq/Dinar News Until 5/31/2007 7:15 PM CST..

Originally Posted by HyiperOne

Parliamentary sources : oil law may not approve except after two months

(صوت العراق) - 27-05-2007

(Voice of Iraq) - 27-05-2007

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الشهرستاني يؤكد أن 80% من النفط سيكون للشركة الوطنية ونواب يقولون عكس ذلك

Shahrastani confirms that 80% of the company's oil and national deputies say the opposite

بغداد - الصباح

Baghdad-Sabah.

يبدو ان قانون النفط لن يقر حسب الموعد الذي طالما ارادته جهات داخلية وخارجية وهو نهاية الشهر الجاري ، ما قد يؤدي الى ظهور تقاطعات خلال مناقشته تحت قبة مجلس النواب

It seems that the oil will not countenance the deadline as long as its internal and external views of the end of the month, may lead to the emergence of intersections during the discussion under the dome of the House of Representatives

وبحسب مصادر برلمانية فان لجنة النفط والغاز في المجلس قد ابلغت اقتصاديين بريطانيين ان التصويت على القانون ربما يتأخر شهرين او اكثر .وتعمل الحكومة من خلال حثها الدائم لاعضاء المجلس على الاسراع باصدار القوانين والتشريعات الضرورية حتى تتمكن من تنفيذ المشاريع والبرامج الموضوعة ضمن اولويات خططها الاستثمارية والخدمية .

According to parliamentary sources, the Oil and Gas Board had informed British economists that the vote on the law may be delayed two months or more. The government is working through the urging of members of the Permanent Council to expedite the enactment of laws and legislation necessary to be able to implement projects and programs within the priorities of their investment plans and service.

وقال نور الدين الحيالي النائب عن التوافق وعضو لجنة النفط لـ"الصباح " ان اللجنة التقت امس وفدا بريطانيا اكدوا له ان القانون يحتاج الى مزيد من الوقت لمناقشته اضافة الى ان المجلس ينتظر انتهاء اعمال لجنة التعديلات الدستورية بسبب وجود مادة تتعارض مع ما ينص عليه القانون فضلا عما ماتسفر عنه المباحثات بين الحكومة المركزية وحكومة اقليم كردستان .

Nur al-Din Alehyale deputy compatibility and member of the oil to "Assabah", the Committee met yesterday a delegation Great assured him that the law needed more time for discussion, in addition to the expected completion of the constitutional amendments because of the existence of a conflict with the provisions of the law as well as Matsafar in talks between the central government and the government of Kurdistan.

وكان وفد كردستاني برئاسة نجيرفان بارزاني رئيس وزراء اقليم كردستان قد اجرى مع مسؤولين في الحكومة المركزية مباحثات كان اهمها لقاء السيد نوري المالكي رئيس الوزراء بالوفد قبل عدة ايام .وبحسب تأكيدات الحيالي فان قانون النفط والغاز قد لايرى النور الا بعد شهرين او اكثر بعد قرار مجلس النواب بتمديد عمل لجنة التعديلات الدستورية الى شهر واحد.ويقول عضو اللجنة ان القانون يحتوي على ثلاثة انواع من العقود مع الشركات الاجنبية الاستثمارية هي :عقود الخدمة والمقايضة والمشاركة ، مؤكدا "ان اغلب البرلمانيين يؤيدون النوعين الاولين لانهما ينصان على ان تعمل الشركات الاجنبية اما عن طريق اجور يتفق عليها او اعطائها كميات من النفط كمقايضة عن عملها فيما ينص النوع الثالث المرفوض من اغلب البرلمانيين على استقاع 40% لصالح هذ الشركات لقاء تطويرها او انشائها حقول او مصافي النفط والغاز".

A delegation headed Ngervan Kurdistan Prime Minister Barzani of the Kurdistan had conducted with officials in the central government talks, especially for Mr. Prime Minister Nuri al-Maliki delegation several days ago. According to the law Alehyale assurances of oil and gas had collided with the light only after two months or more after the House resolution to extend the work of the constitutional amendments to one month. Committee member says that the law contains three types of contracts with foreign companies, the investment are : service contracts and swaps and participation, He emphasized that "the majority of parliamentarians support the first two types because they stipulate that foreign companies operating either through the wage agreed upon, or giving quantities of oil Kmagaeidah on its work with the Type III rejected most of the parliamentarians Astha 40% in favor of this company for upgraded or established fields or oil refineries and gas. "

الا ان وزير النفط حسين الشهرستاني نفى ذلك ،مشددا على ان قانون النفط المنتظر لا ينص على عقود تقاسم الإنتاج وسيضمن سيطرة شركة النفط الوطنية على 80 في المئة من الاحتياطيات النفطية.

However, the oil minister Hussein Shahrastani denied this, stressing that the expected oil is not provided for production sharing contracts will ensure control of the National Oil Company, 80% of the oil reserves.

واضاف الشهرستاني في تصريحات صحافية ادلى بها امس : هذا يعني أن 80 في المئة من الاحتياط النفطي المكتشف مخصص للشركة الوطنية العراقية، وهو يبطل الادعاء القائل ان القانون سيمهد للشركات الأجنبية الاستحواذ على نفط العراق،مشيرا الى ان اتفاقات استغلال الحقول النفطية الأخرى متروكة للمجلس الاتحادي للنفط والغاز.

He added Shahrastani said in press statements made yesterday : this means that 80% of the oil reserve discovered dedicated to the Iraqi national company, which invalidates the claim that the law will pave the foreign companies monopolizing the oil in Iraq, pointing out that the exploitation of oil fields other left of the federal oil and gas.

I made a modification to the title to be translated correctly, so the parlment says that the bill may be delayed for another 2 months.

Actually it says According to parliamentary sources. I would bet that this remark comes from the element in the Parliament that is anti West since we have many articles say just the opposite.

Shahrastani confirms that 80% of the company's oil and national deputies say the opposite. I belive that covers it. I doubt the conclusion the title infers.

Originally Posted by wciappetta

Actually it says According to parliamentary sources. I would bet that this remark comes from the element in the Parliament that is anti West since we have many articles say just the opposite.

Shahrastani confirms that 80% of the company's oil and national deputies say the opposite. I belive that covers it. I doubt the conclusion the title infers.

Exactly,

We have seen this a million times, many of the current members of parliament are anti anything positive, sound familiar? Those who know their days are numbered are going to say whatever they want at this point, so I take all quotes from these undisclosed parliament members as pure illiterate BS which is all it is. Direct quotes from Maliki can barely be believed, just look at his many promise for reshuffle, so why should anyone believe what is quoted from unknown members of parliament?

Good luck and health to all, Mike

PS Lets all monitor our little fingers and think before you post, I sense the frustration levels growing again, so lets ALL be tolerant and little less critical of others.

Thanks

Baghdad - Voices of Iraq

Sunday , 27 /05 /2007 Time 3:47:02

By Dergham Mohammed Ali


Baghdad, May 27, (VOI)- Demand for the dollar soared on Sunday to its highest level in over a month, hitting $104, 845 million compared with $43.535 million on Thursday, due to high bids made by governmental departments in foreign transfers.



In its daily statement the bank said it had covered all bids, which included $5.825 million in cash and $99.020 million in foreign transfers, at an exchange rate of 1,259 dinars per dollar, unchanged from Thursday.
None of the 16 banks that participated in Sunday's auction offered to sell dollars.
Ali al-Yasseri, a trader at the auction, told VOI "the hike in today's demand for the dollar was due to the high bids made by governmental departments in foreign transfers to honor their commitments with foreign companies."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.


Version traduite de la page http://www.aswataliraq.info/index.php

Please excuse if previously posted. Thank you.

Dr. Ibrahim Roses : low inflation indicator of the good performance of the monetary policy
اBAGHDAD - Hassan Al-Rubaie

Dr. Ibrahim Musa Roses teaching in the Faculty of Administration and Economics University of Baghdad that inflation disastrous results reflected on the life of the community, compounded by uneven and generate incomes and reduction in the level of operating capacities and thereby diminishing employment opportunities, and unemployment rates are an economic indicator, which reflects the good performance of the economic policy of the government The trends economics

.He added in a lecture he delivered in a specialized symposium on the effects of inflation and its impact on the economic situation of living that is durable swap between the inflation rate low and the unemployment rate is high and vice versa and that the stability and growth not only bring in a stabilization of cash.
And the case is the cause of the continuous rise in prices is enormous and significant expansion in the money supply in quantities greater than demand plus Nakecudi that the model must be based on a function of the stable cash balances real and such stocks is supposed to be a function of the level of real income and the opportunity costs retention money.
:He therefore called roses to the study and analysis of inflation in the light of the structural composition of the national economy should be seen as a result of the limited number of bottlenecks and constraints in the national economy which is imperative in any economy trying conditions to grow rapidly in the presence of bottlenecks or restrictions, most notably :
-.- Inelastic supply of food due to increased demand, which can, for example, secure the agricultural sector due to structural constraints of this sector and could not respond to requests broad result of high demand.
-.- Under the foreign currency shortage great sense and not available to cover imports due to serious shortage of production and the risk rises in the material and the lack of balance in the balance of payments paid to ease its currency and the increase of inflationary pressures.
.The third limitation is associated with the lack of internal financial resources (budget deficit) any inadequacy in government revenue to offset the growth rates and spending ..
Roses also stressed that the ways and means of addressing a result of inflation, which causes many to be linked to the expansion of the money supply, achieving economic stability must be cemented through the building and the Iraqi monetary unit value (the dinar) at the foreign currency exchange rate and strengthen and reduce inflation only with controlling transnational phenomenon and monetary stability monetary growth to achieve economic stability. It is the responsibility of monetary policy, which should make the system more flexible exchange system from its current working towards gradual ascent for the benefit of the Iraqi dinar what ultimately creates a stable economic climate provides prosperity and optimism and growth of the Iraqi economy, it is understood from the analysis of Dr. Ibrahim Roses that with the procedures the Central Bank to strengthen the value of the dinar Iraqi against foreign currencies.

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No Warnings. just deleted post. I know you guys are inpatient. But Please follow the rules of Rolclub. All off topic Post realated to this thread are deleted.

Originally Posted by Socata 850

6. 10,808,926,368,000 dinars pulled from circulation !!

6A. Conservative ESTIMATE of Dinars still in circulation or controlled by the CBI 6,191,073,632,000

Thanks Scata,

I just wonder, where all these pulled nid's go?

Last thursday Maliki was upset that there were not enough members to vote on his new cabinet ministers and they reschedules a vote for today - which he said that he would personally attend.

The Parliament Translated version of http://www.coriraq.net/ara/default.aspx had a fully schedule today

but as far as I can see: NO MALIKI NOR VOTE?

THIS IS ALL THAT I FOUND:

ليومFollow-up releases : Reading newspapers in Baghdad the day

May 27, 2007

May 27, 2007 -Block Chest refuses to grant confidence for new ministers

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

There was also something that I read on Al Sadr telling his members of Parliament NOT TO VOTE on the Cabinet.

SO...IS THERE ANY FURTHER DETAILS OUT THERE THAT I'VE NOT SEEN ON THIS...

AS THIS COULD/COULDN'T BE IMPORTANT - IF MALIKI DOESN'T HAVE THE VOTES FOR THIS VOTE...

HE SURE WON'T FOR MORE CRITICAL, UPCOMING VOTES...

THUS MAKING BIT PLAYERS LIKE AL SADR BLOCK MUCH MORE CRITICAL THAN THEIR NUMBERS WOULD SUPPORT...

SO PLEASE ANY UPDATE APPRECIATED...TIA!

[QUOTE=Socata 850;206044]

An intersting note* This is the 4th largest auction the CBI has had since we have all been closely watching the CBI reval plan. I find it interesting that so much money (dinars) were taken out on what might be the eve of a reval. Goes against the theory that money supply is drying up, or it could be the CBI's last big push before "our day" becomes a reality. Again, it's a contraditon to the logic that we assume the CBI is following.

I don't see the contradiction.

So far we have a deliberate, well thought out plan to remove dinar from circulation to create scarcity and increase value; an end game of de-dollarization, which means a dinar valuable enough to totally and forever displace USD as the currency of choice (preventing chronic high inflation); news of ever-increasing oil and natural gas reserves along with enormous agricultural and manufacturing capability, soon to make Iraq the richest country on earth.

At some point the lid has to blow!

Originally Posted by addict

Yup, i think these "big" auction have something to do with the revaluation, cause you know, banks will be needing Dinars all over the world and i think not more than 20 banks have the currency at the moment, think about it, if the Dinar gets over a dollar all banks worldwide will have to buy Dinars and start exchanging them. Gooooood luck to all, and thank you Susan for the information you are giving us. Also thanks to Socata.

Good Posssiblity. But the 20 Banks you mention, wouldn't that cover most Branches. I mean, look at JPMorgan, they supply all Chase's Branches, and then they get from are deal with BofAmerica. Now that is just 2 Banks, but they supply 1000's of Branches.. I see what you are saying, it makes sence. Maybe some of our economist here can explain a possible senario. I am Intersested in it aswell.

De-dollarizing is the goal of the CBI.

Only a few countries have ever successfully de-dollarized. The vast majority of attempts have failed, with the USD making a complete or at least partial comeback in each instance.

What we are witnessing is the careful strategy required for a country to enter the ranks of the few. When Iraq brings its' revalued currency onto the world stage - it must succeed; it cannot and must not fall back into complete or partial USD dominance.