Jump on board this one :0) it's a must

[Adster]

Hey guys,

Put together some reasons below as to how near I believe we are to a reval. Couple of the posts are comments made from very sharp/bright members of a forum I frequent for info/articles. Judge for yourselves but I have a really good feeling about this now.


Iraqi Bank Undertakes Ambitious Modernization
by Adam Davidson

Audio for this story will be available at approx. 7:30 p.m. ET


All Things Considered, January 30, 2006 · Iraq's Central Bank is undergoing the most significant modernization in its history. If all goes as planned, the country will soon move from an almost entirely cash-based economy to one with most of the features of a modern financial system. This is a crucial step for Iraq's economy.

http://www.npr.org/templates/story/...storyId=5179149

Do a search on 'Iraq' and halfway down you'll see this article.


The below was a call to a Trading Company after it was spotted that the Dinar was listed on their site and a few forum members called them for info.

Mark Said We ,have The Info In Hand Waitng To Get The Word ,from Whom I Dont Know ,to Release It ,to Go Live !

Info below from a Forex trader who holds several million Dinar too!

I think it's entirely possible that dinar is being distributed to major
foreign exchange banks around the world, where it will then be distributed
to smaller regional banks.

Even though the dinar is not yet tradeable on the forex, it's appearence
in data- and newsfeeds is a known barometer for banks and traders to
check when they make their transactions.

I would also conjecture that if and when it becomes available in forex
trading, it will probably on be tradeable in the "interbank" market and
probably won't be available to us individuals on the "spot" market for a while.
While and when it trades in the interbank market, I'm betting it will be done
in a very discreet way and we may not ever know about it.

I am not finding it yet on Bloomberg. If it appears on Bloomberg and
YahooFinance, and other prominent financial news sites, it tells me one
thing. The financial markets believe that convertibility is not far away
and that they are preparing for it. If that's true, the financial market
may also be warming up to the investment profile of the dinar in terms
of speculation,..i.e., increase for dinar demand,...this alone should exert
some upward pressure on the exchange rate.



Treasury exceeded its authorized borrowing limit today! No more credit!!!
http://www.publicdebt.treas.gov/opd/opdpdodt.htm


Other words, they'll have to stand on their own two feet and provide for their own future financially.




Here is one article on it, not the one I read before but I did find something interesting...
http://www.atimes.com/atimes/Middle_East/FA27Ak02.html

...But Iraqi Central Bank Governor Sinan Shibibi called the rise "not justified" and said he would have preferred smoother growth for the new money. He said "there's probably some kind of speculation, people have bright prospects for the Iraqi economy ... It is now a trustworthy currency, but [the rise] is not justified because it's a big jump. You really want something smooth."...

Here is what I thought was interesting...this is first time I actually saw that Iraq paid for something in dinar...

...And in Lebanon, one of the biggest news items last week was the impounding of about $20 million in new Iraqi dinars that arrived at Beirut airport aboard a private plane. Lebanese police arrested four people on suspicion of smuggling, only to receive an urgent complaint from the Iraqi interior ministry, which said it had sent the money as payment to a British company for security equipment. Beirut is now demanding the Iraqi officials send proof before they decide whether to return the money...



A country that releases Iraq of 80% of its debt and then is paid back the remaining 20% in Dinars, suddenly has 1000% ROI at some point after the Dinar's peg/r/v. Plus as an added bonus is that country is now looked upon favorably by the international community as compassionate. Nice investment - make a ton of money while looking like a rose at the same time.


And lastly, a chum of mine just pm'd me this info.


first i believe that they are only testing now as some if not all of the data had been incorrect.....kind of normal though....they will continue to test until they are assured of the data integrity, as many investors count on this very data to base their decisions on.....can't afford to get it wrong. But to answer your question YES, i believe they are preparing to trade, and i don't think it's too far off.....they wouldn't be testing data integrity for an event they believe to be months or years away, IMO

Next and this is my speculation as i haven't yet been able to confirm this.....the use of dual symbols MAY be to insure future analysis of the market trends for the dinar.....in other words the one symbol will be used for the OLD exchange rate and the other symbol will be used to track the new and changing rate...i would expect this is due to the fact that there will be a substantial increase in the rate....this will give future speculators accurate data with which to make their analysis from.
i believe we are much closer than many think, there are many signs of this all coming together.....follow whats happening with the additions of many new banks and the modernization of the CBI, coupled with this sudden interest in tracking the dinar real-time and more importantly in "PAIRS".

[nej]

Lookin' good!!

[feelgood2]

Yes I am ready now but if it is 2 or 3 yrs from now that would work also

[YogiBrood]

Thanks Ad, and for that yesterday's tip too. Yes, over a year or 2 from now...it's gonna be a windfall and one can simply see the deserts roll up the earnings like a 30 meter wave... think of that "mummy film"...

Cheers...

YB.

[robmccallum01]

If it takes another couple of years for the revalue to happen then I say GREAT. It will give me some more time to buy more and more Dinar

I am going to the bank on Friday to purchase $200,000 Iraqi Dinars which I'm sure to most of you it's not very much but good for me. If the Dinar happens to hit $1 USD then WOW :) Hopefully I'll get a chance to buy up some more Dinar before anything starts to happen while the price for Dinar is still so cheap lol.

Cheers All

Rob

[Adster]

Mods, any chance of making a sticky from this article please. This more than anything from the CBI shows the Dinar will increase this year. What more proof could we need? Just read the last paragraph, wonderful news, and has made my day!!


Oil and Gas

On 19 February, Al-Diyar cited Acting Minster of Oil Hashim al-Hashimi as saying that reports on raising the prices of fuel and petrol products are inaccurate, adding that there are no intentions to raise them at this stage in time. However, Al-Hasimi was cited as saying that there are plans to lift the government's support of petrol products, adding that one liter of fuel will be sold at 700 Iraqi dinars.

On the same day, Al-Iraqiyah cited sources at the Iraqi Ministry of Oil as saying that sabotage of ministry equipment and oil pipelines in 2005 resulted in losses estimated at six billion US dollars, adding that a total of 186 sabotage operations were carried out during the same year. Additionally, Baghdad Satellite Channel, Iraqi channel known for its Sunni affiliation, estimated casualties among ministry personnel and oil installation security forces at 138 persons.

On 20 February, Al-Iraqiyah cited an aviation source as saying that oil exports from the southern port of Al-Basra has been suspended due to bad weather conditions, adding that two oil tankers remain anchored until weather stabilizes.

On 21 February, Al-Iraqiyah cited Sabah al-Jawhar, head of the Gas Directorate at the Ministry of Oil, as saying that 60 percent of Iraq's daily production of gas is burnt up as a result of wrong gas production methods, which had been enforced by the former regime. Elaborating on the same subject, Al-Sharqiyah cited Al-Jawhar as saying that Iraq has many plans to develop its natural gas resources, pointing out that the country's political instability and the lack of financial support hamper their implementation. Al-Jawhar was reported as saying that restoring gas production facilities and benefiting from gas reserves depend on the formation of a new government and the issuing of laws that encourage foreign investment in the oil industry.

In another report carried by Al-Iraqiyah on the same day, the channel said that the Iraqi Ministry of Oil has erected a secondary electric power station in Al-Shu'aybah Oil Refinery, in order to insure continuous production of petrol products.

On the same day, Al-Baghdadiyah, a Cairo-based Iraqi channel known for its opposition to the "US occupation" in Iraq, reported that Iraq resumed oil exports from Al-Basra port after bad weather conditions subsided.

On 22 February, Al-Iraqiyah reported that Acting Minister of Oil Hashim al-Hashimi has held a meeting with Mu'in al-Kazimi, head of Baghdad Governorate Council, on activating the role of gover norate councils in distributing white oil and gas in an efficient manner.

On 23 February, the channel reported that the Governor of Al-Muthannah Governorate Muhammad Ali al-Hassani inaugurated a fuel station as part of plans to alleviate the fuel crisis in the governorate.

On 25 February, Al-Iraqiyah cited an official at the Ministry of Oil as saying that a fuel pipeline near Bayji city was sabotaged on Friday, adding that this is expected to impede fuel supply in the next three days.

Other Reports

On 19 February, Al-Baghdadiyah reported on precautionary measures taken in Diyala Governorate to prevent a breakout of the Avian Flu. The channel indicated that health and police directorates as well as other institutions have established an operation room to gather information from all parts of the governorate on suspected cases of Avian Flu. The channel added that such precautionary measures include educating local veterinarians on detecting cases of Avian Flu and the methods of dealing with them.

On 20 February, Al-Iraqiyah reported that Iraq and Finland have signed an agreement to write off 80 percent of Iraqi debt.

On 25 February, Al-Baghdadiyah cited a source at the Central Bank of Iraq as saying that the exchange rate of the Iraqi Dinar will rise significantly against the US dollar during 2006, adding that all policies will be adopted to improve the exchange rate of the country's national currency.

[everwiser]

There you go Adster...

Everwiser

[Caroline]

That last paragraph is really a beauty!

Thanks for sharing, Adster.


Caroline

[Adster]

Thanks everwiser. Reason this should be a sticky is that IMO it is proof in itself that by wording it as a 'significant rise against the dollar in 2006' by the CBI itself is the most positive article I've ever read to date. But what do the CBI see as significant? 0.001, 0.02, 0.31?! That's the big question. To me whatever it opens up is just a start, it will increase rapidly once it's internationally tradeable. Of course we all hope for a high reval!!

Not long to go.

[Adster]

Marks out of 10 for a reval in the next 4 months?

OK, let's look at what we have. We have been given a very creditable rumour back in October 2005. For a RV date of 03/12/06, now we know that by law the Parliament must meet on or by 03/12/06. Compass Bank suddenly stops selling the dinar. Prices are rising in Iraq dramatically. IQD/NID is now being tracked on all of the big boards. A recently discovered Iraqi news article is quoting that the IQD/NID will rise in 2006. Then we also have quotes from the CBI that is predicting a rise in demand for the IQD/NID in 2006 by 10 to 20%. Based upon all of this evidence. I think something will happen before June 2006. I would put a 10 on that.

What do we think guys?