Thread: Iraq/Dinar News until 6/17/07 8:30 PM CST

Originally Posted by Lunar

Latest news : Al-Bayati : government leaning toward a comprehensive cabinet reshuffle

14/06/07

Member of the House of Representatives on the United Iraqi Alliance Abbas Bayati there is a trend towards a comprehensive cabinet reshuffle on the basis of technocrats.

Bayati added that the views began to crystallize in political circles and calls for expanding parliamentary cabinet reshuffle to include new ministries to capitalize on the technocrats and away from political quotas, which was formed whereby the government of national unity. He pointed out that after the delay in the cabinet reshuffle to seven bags voices calling for the release by the Prime Minister to amend the ministerial open through which it can control the performance of the government and its role as primarily responsible for the Iraqi people and the House of Representatives on the implementation of the government program. He added that the partial amendment has been disrupted more than once before the parliament due to restrictions political blocs which it wants to control this amendment.

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Lunar: If they cant replace the six ministers how are they going to do a complete reshuffle?

Originally Posted by rvalreadydang

Magazine Calls N.Korean Won Worst Currency

In an article published on its website on Wednesday, Foreign Policy, an American magazine on international relations, called the North Korean won one of the world's "worst currencies."
The official exchange rate for North Korea's won is 141 KPW per one U.S. dollar, but on the black market it's traded at more than 2,500 won per dollar.

Nobody knows exactly how much inflation has affected the currency, because most commodities prices are set by the North Korean government. North Korea's official exchange rate bears no relationship to any underlying economic reality, Foreign Policy wrote.

Commodities prices skyrocketed beginning in 2002 as the government began experimenting with market reforms, the magazine said, with the price of rice rising by 550 percent.

Alongside the North Korean won, the magazine listed Somalia's shilling (SOS), Venezuela's bolívar (VEB), Iraq's new dinar (NID), and Zimbabwe's dollar (ZWD) as the world's worst currencies.

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LOL ahhhhhhh they don't know nuttin!
Digital Chosunilbo (English Edition) : Daily News in English About Korea

Looks like they forgot Iran....

Originally Posted by Ialdoboath

Foreign Policy: The List: The Worlds Worst Currencies

From FP Magazine article:
Iraq
Currency: The new Iraqi dinar (NID)
Inflation rate: 40.92 percent in April 2007
Exchange rate: 1,260 NID per US$1
What went wrong? The war. In October 2003, the U.S. Coalition Provisional Authority introduced the New Iraqi Dinar to replace the old “Swiss” dinars that featured the likeness of ousted dictator Saddam Hussein. But the new design may have been the high point for the NID. Iraq’s inflation rate averaged 50 percent last year, as spiraling security costs and persistent shortages of gasoline fueled rampant inflation, while black market profiteers bid up the unofficial price of petrol. Struggling to keep inflation in check, Iraq’s beleaguered central bank allowed the dinar to appreciate by 14 percent and raised interest rates to 20 percent in December 2006. Inflation reached a peak of more than 66 percent in January 2007, but declined to a “mere” 40 percent in April. It’s an encouraging sign, but unless the country’s raging sectarian violence gets under control, not even Alan Greenspan will be able to turn Iraq’s economy around.

Um ya, what is that old saying?

Oh ya,

Its always darkest before the dawn.....

Originally Posted by TerryTate

Um ya, what is that old saying?

Oh ya,

Its always darkest before the dawn.....

its quite a clever plot to conjur up such disinformation in the media was my take on this 'financial circles' article. an article to keep professional speculators at bay so to speak.

No auction today ?????????? Haven't seen one post later then 2:00pm

Originally Posted by cashNsoon

No auction today ?????????? Haven't seen one post later then 2:00pm

It has happened earlier that the auction has been late or cancelled when there has been a curfew on.

Anybody heard any news about the curfew?

I don't believe there is a curfew.......I haven't heard anything about one!

Originally Posted by bultn

It has happened earlier that the auction has been late or cancelled when there has been a curfew on.

Anybody heard any news about the curfew?

there is a citywide curfew in baghdad until further notice. there was not an article posted at al sabaah this morning either, the government newspaper. i found that odd.

i was just thinking, 'citywide' is only baghdad but doesnt the rest of the country need to have a rate to operate since they arent under curfew?

I have not heard anything about that! SGS by no means I am I saying this negitive........do you have a source of this information???

Because if this is true......and no auction......plus a few other tidbits.....this could be promising.

Iraq govt imposes Baghdad curfew from 3 pm
(Reuters)

13 June 2007



BAGHDAD - The Iraqi government will impose a total curfew on Baghdad from 3 p.m. (1100 GMT) until further notice, Prime Minister Nuri Al Maliki’s office said on Wednesday.


The curfew was imposed after insurgents blew up two minarets of a revered Shia mosque in the city of Samarra, where a similar attack last year sparked a wave of sectarian violence.