Thread: Today,1 million Dinar = $____________

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.90


FOCUS

Maceman




Gulf may not boost oil output
Emirates Business 24/7

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19 September 2008
Gulf countries will shelve efforts to boost oil output if crude prices drop below $80 (Dh294) a barrel, according to a senior official from the Organisation of Arab Petroleum Exporting Countries (Oapec).

Secretary General Abbas Naki said if oil prices fell further "we will see investment and developments in the oil sector in these countries decrease drastically".

Middle East producers have come under repeated attack for not investing enough in boosting production capacity, which critics say helped push prices to new records earlier this year. "In the long run this will have a very bad effect on global markets," added Naki.

Oapec includes a number of countries that are members of the Organisation of Petroleum Exporting Countries (Opec) - the UAE, Saudi Arabia, Kuwait, Qatar, Iraq, Algeria and Libya. The other members are Egypt, Syria, Tunis and Bahrain. Naki said Opec's basket price has fallen by about 30 per cent since July, when it touched an all-time high of $138.3 a barrel.

"This huge slide will definitely affect development projects in Arab oil-producing countries. There is an uncertainty right now and this uncertainty is delaying the ****ution of some projects."

Oil prices dropped below $100 a barrel earlier this week and touched $89 on Tuesday before rebounding as investors ran for cover amid the collapse of Lehman Brothers and the US government's rescue of the American International Group.

Meanwhile the International Monetary Fund has said that the UAE can take more pain than Saudi Arabia before plummeting oil prices push it into a fiscal account deficit.

The UAE would run into trouble only if oil prices dipped below $23 a barrel while Saudi Arabia would show a deficit if crude fell under $49.

"Saudi Arabia's break-even price is the highest among the GCC countries because they are spending on a lot of projects right now, and oil money is used to fund these projects," said Mohsin Khan, Director of the IMF's Middle East and Central Asia Department.

"For Qatar, the break-even price is $24 a barrel and for Kuwait it is $33 a barrel."

Iraq has the highest break-even price in the region, according to the IMF figures. The war-torn country needs prices above $110 a barrel to balance its books.

Iran's break-even price is $90 a barrel.

Oil prices

Oil prices broke back above $100 a barrel yesterday amid growing concerns about US financial turmoil, then gave back some of their gains as a Federal Reserve cash injection into the credit markets calmed investors.

© Emirates Business 24/7 2008

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.90


FOCUS

Maceman

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 843.88


FOCUS

Maceman


Demand for the dollar was significantly higher in the Central Bank of Iraq's (CBI) auction on Monday, registering at $203.390 million compared to $66.495 million on Sunday.

"The demand hit $30.160 million in cash and $173.230 million in foreign transfers outside the country, all covered by the bank at a stable exchange rate of 1,185 Iraqi dinars per dollar, one tick lower than yesterday," an official source from the bank told Aswat al-Iraq - Voices of Iraq - (VOI).

None of the 19 banks that participated in the auction offered to sell dollars.
The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Subject: Fw: : Archived 28 year old Awake Article... A must read

The End of Today's Economic Systems



>
> Material From January 22, 1980 - Awake
> Copied from WT Library CD, Article title: The End of Today's Economic Systems
> (read it carefully. This was over 28 years ago)
>
>
> The End of Today's Economic Systems
>
> IF YOU designed a machine and it did not work well, what would you do?
You would likely try one modification after another to see if it would
work better. But what if you found that after each repair it got worse?
Would it not be time to consider that the machine itself was
unsatisfactory, and that a different kind was needed?
>
> Today's economic systems are not working for the good of all mankind.
There are enormous injustices in them. Hardworking people see their
money eaten away by inflation. Hundreds of millions live in poverty.
Other hundreds of millions do not even have the necessities of life. The
New York Times reported of some lands: 'For many poor people the price
of a single meal now exceeds a day's income,' which is a striking
fulfillment of the Bible prophecy, 'A whole day's wage for a loaf of
bread.'-Rev. 6:6, Weymouth, Fifth edition.
>
> Really, today's economic and money systems cannot bring the peace,
security and prosperity mankind so desires. Selfishness, greed, pride
and a heartless lack of concern for others are built into them.
>
> What does all of this mean? Why the worldwide inflation, as well as
food shortages, wars and other unprecedented troubles since 1914?
>
> All these things are a sign of the times. They are conditions that
were foretold to be a part of the 'last days' of the present system of
things. And included in the foretold conditions is that people would be
'lovers of themselves, lovers of money, . . . without self-control, . .
. lovers of pleasures rather than lovers of God.' All these things are
part of today's political, economic, social and religious systems.-2
Tim. 3:1-5.
>
> Hence, today's money instability and hard economic times for so many
are part of the evidence that this system of things is rushing toward
its finish, as Jesus himself foretold. (Matt. 24:3-14) Any patchwork
improvements to try to keep today's economic systems going will be very
short-lived. No repair can undo the selfishness, greed and injustice
that are built into them.
>
> So what all these things really mean is that this present
unsatisfactory system is moving toward its greatest crash ever, but by
divine action, not human failure. As Jesus put it: 'For then there will
be great tribulation such as has not occurred since the world's
beginning until now, no, nor will occur again.'-Matt. 24:21.
>
> Comfortingly, though, God's prophetic Word promises that this time of
coming trouble will be followed by 'a new earth' in which 'righteousness
is to dwell.' (2 Pet. 3:13) That 'new earth' means a new human society,
which will include a new economic system, one that will work for the
good of every person. The promise is: 'The LORD Almighty will prepare a
banquet for all the nations of the world-a banquet of the richest food
and the finest wine. Here he will suddenly remove the cloud of sorrow
that has been hanging over all the nations.'-Isa. 25:6-8, Good News
Bible.
>
> 'In order to clear up the present economic problems everything must be
set back to zero'
>
> What will soon happen, then, is similar to what a Japanese businessman
answered when asked about a solution to today's economic turmoil. He
remarked: 'In order to clear up the present economic problems everything
must be set back to zero.' He rightly saw the hopelessness of ever
repairing the system. And God's Word agrees: it is too far gone. Hence,
it will not be repaired, but will be demolished.
>
> The possibility of today's economic systems crashing has been a more
frequent topic of discussion among economists lately. For instance,
American financial commentator Sylvia Porter spoke of the real
possibility of an 'inflationary blowoff in this nation and the world,
destroying the confidence in any investment in 'paper' [money], and so

undermining the functioning of our international monetary system that
trade among nations would grind to a near standstill.' The columnist
added:
>
> 'The blowout would then ripple out to cause a rash of bankruptcies
among businesses, a collapse of the dangerously swollen credit bubble,
an upsurge in unemployment, foreclosures of vastly overextended mortgage
credit, and repossessions of goods bought on installment loans the
debtors could not repay.
>
> 'The scenario becomes more scary even as I write it.'
>
> 'Nations cannot go on borrowing to improve living standards'
>
> Political commentator Jack Anderson similarly commented on the shaky
money situation, stating:
>
> 'Nations cannot go on borrowing to improve living standards. The money
can never be paid back unless it is invested in production instead of
consumption. For many countries, the debt is already greater than they
can absorb without a financial breakdown. . . .
>
> 'Skyrocketing prices keep adding to the bad debts until the whole
banking system is threatened with collapse.'
>
> The American Institute for Economic Research makes the following
observations:
>
> 'During the next several years, the following economic developments
seem highly probable:
>
> 'A severe and prolonged worldwide depression. . . .
>
> 'During a prolonged depression, social disorder might well become
extreme. . . .
>
> 'Any person or family who appears to be substantially better off than
those who are most adversely affected may become the target for mob
violence.'
>
> When people rob, rape, mug and murder in such increasing numbers now,
in a time of relative peace and prosperity, they would do much worse if
a breakdown occurred. An evidence of this is what happened during the
blackout in New York city in 1977. In certain areas anarchy prevailed.
Looting, vandalism and robberies were epidemic. The police admitted that
they were helpless.
>
> Similarly, in an African country, a one third increase in the price of
rice sparked rioting and looting in the capital city. The streets looked
as if a war had just been fought. Martial law was declared and a strict
curfew imposed.
>
> 'Into the streets they will throw their very silver, and an abhorrent
thing their own gold will become'
>
> Concerning what lies ahead for the entire world, the Bible speaks of a
'great tribulation such as has not occurred since the world's beginning
until now, no, nor will occur again.' During that time, paper money will
be worthless. Why, Bible prophecy even says: 'Into the streets they will
throw their very silver, and an abhorrent thing their own gold will
become. Neither their silver nor their gold will be able to deliver them
in the day of Jehovah's fury.'-Ezek. 7:19.
>
> No human leader, nor any form of human government, will be able to
forestall the coming 'great tribulation,' since it is God's judgment
against this present wicked system. That is why his Word warns: 'Do not
put your trust in nobles, nor in the son of earthling man, to whom no
salvation belongs.' (Ps. 146:3) What, then, is the right course to take?
The Bible answers: 'Trust in Jehovah with all your heart and do not lean
upon your own understanding.'-Prov. 3:5.
>
> Those who trust in Jehovah now he promises to help even in an economic
way. No, God will not provide his servants with luxuries, but he has
promised them the necessities of life. (Matt. 6:24-34; Ps. 37:25) Nor
does this mean that those who trust God will have an easy time in life,
since they too are affected by bad conditions in the world. But they
will certainly have more success than others do in coping with today's
troublesome times.
>
> In addition, such ones will have the assurance of God's protection
during the coming crash, and of surviving into a righteous new system.
(1 John 2:15-17; Ps. 37:27, 34, 37) That is why a family in Brazil who
learned to trust Jehovah states: 'Although beset by economic problems,
we are a happy family because we know Jehovah, the happy God, and we
know his purposes.'
>
> 'Raise yourselves erect and lift your heads up, because your
deliverance is getting near'
>
> So, regardless of how severe the money squeeze becomes, there is the
sure hope of the best of times directly ahead in God's new order. Hence,
persons who have the right hope based on accurate knowledge, and who
trust in God and not in material wealth, can 'raise themselves erect,
and lift their heads up, because their deliverance is getting
near.'-Luke 21:2



Maceman

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.90


FOCUS

Maceman



Can anyone believe that this will stay a mystery longer than a month.
I don't, the world awaits and needs the sugar, the money boost. Iraq
needs to make it's grand entry as the pages of history turn and new ink
flows.

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.18


FOCUS

Maceman


DERIVATIVES

$1.14 Quadrillion In Derivatives—

What Goes Up…


.14 Quadrillion In Derivatives - DeMeritt

Quadrillion? That’s a number only astronomers use, right? You know…as in the North Star is “just” a couple of quadrillion miles away.

But, ominously enough, Earth’s economists are actually starting to use it, too. No, not to discuss the amount of dollars out there (though it might feel like the Fed just pumped a quadrillion greenbacks into the economy). The Bank of International Settlements recently reported that the amount of outstanding derivatives has now reached the $1.14 quadrillion mark ($548 Trillion in listed credit derivatives plus $596 trillion in notional [or face value] OTC derivatives).

Whether you’re an astronomer or an economist, that’s an awfully big number. In case you need a mega-number refresher course, million is followed by billion which is followed by trillion which is followed by quadrillion (and, okay, quintillion and sextillion follow that). Yes, it takes a thousand trillion to make up one quadrillion, and, sadly, that’s where we now find ourselves with the derivative situation.

Leverage Madness
Derivatives, as you may know, are essentially unregulated, high-risk credit bets. Unlike the earnest farmer who might employ a futures contract to hedge the price of the beans he’s worked so hard to grow, many of today’s institutions use futures, forwards, options, swaps, swaptions, caps, collars and floors—any kind of leverage device they can cook up—to bet the hell out of virtually anything.

What drives derivatives, at their very roots (if you can somehow get back that far), are base assets that get leveraged to a demented degree. Martin Mayer writing for the Brookings Institute, said, “the receiver of the payments on these loans or securities has bought the securities for the duration of the swap on 95% margin, even though the law says nobody can buy securities without putting up half the price.”

Extrapolated, $1.14 quadrillion in assets “owned” on something like 95% margin has to be one of the scariest phenomena in economic history.

Mathematicians and academics are supposedly the air traffic controllers of the derivative complex, keeping everything neatly hedged, up-to-date and safe. But a quadrillion-plus of these highly leveraged investments is like multiplying America’s fleet of planes a million-fold…while not bothering to boost the number of air traffic controllers. The potential for financial disaster is simply overwhelming.

“Financial Weapons of Mass Destruction”
So warned Warren Buffet of derivatives six years ago.
“Charlie and I are of one mind in how we feel about derivatives and the trading activities that go with them: We view them as time bombs, both for the parties that deal in them and the economic system,” is how the Oracle of Omaha put it.

That time bomb almost went off in March 2008 with the Bear Stearns debacle. The title of an article by noted analyst Ambrose Evans-Prichard—“Fed’s rescue halted a derivatives Chernobyl”—says virtually everything you need to know.

According to the article, Bear Stearns held a jaw-dropping $13.4 trillion in derivatives, which is “greater than the U.S. national income.” So where did it all go? Well, this time anyway, JP Morgan was encouraged to step in to add Bear’s derivatives to its own $77 trillion portfolio, giving the financial giant a grand total of $90 trillion in spooky derivatives.

Which begs the question, why didn’t we just let Bear Stearns—$13 trillion in derivatives and all—go belly up? Wouldn’t that have taught the nation a lesson and given Wall Street a long-deserved wake-up call? “Twenty years ago the Fed would have let Bear Stearns go bust,” said credit specialist Willian Sels. “Now it is too interlinked to fail.”

Meaning that a Bear Stearns collapse today could be the first falling domino in a collapsing domino configuration tomorrow. Derivatives really are all interlinked. So expect the Fed to move with Panzer-like velocity to rescue any bank struggling with its derivative load.

But what happens when that’s not enough?

Maceman

Originally Posted by maceman

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.18


FOCUS

Maceman


DERIVATIVES

Originally Posted by maceman

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.90


FOCUS

Maceman



Can anyone believe that this will stay a mystery longer than a month.
I don't, the world awaits and needs the sugar, the money boost. Iraq
needs to make it's grand entry as the pages of history turn and new ink
flows.

There is a lot of buzz everywhere, saying this is the month, the week, the time. Hope so!

848.90 aAbove is still happening. But that is not what is important today...

World Currency, Common Cents, Economic History. Thes are the topics behind our investment, the dinar

Every one knows that a boat floating can not sink in partial. so we all sink
or we all get a new boat. New boat is happening. NO SURPRISE.

But that new boat comes with the hole already in it..a world run by money!

Never the less, I still need to keep my word and pay my rent.

Every good thing about the dinar looks rosey.

Maceman

well if you are exchanging the dollar for the dinar at cbi....


Today 1 million Dinar = $ 848.90


FOCUS

Maceman



This is not like birth, where both parties knew what to do to make it happen, that was the old fashion way. This is test tube engineering all the way. All we know is, it is suppose to create useful money, unfair exchange and mysterious enough to perhaps fight over again. Until they get it right

Interesting,

If you follow world currency markets, what we see is almost every currency well off its highs, as chart below indicates clearly against U.S. Dollar.

What is really scary is the dollor was dropping like a rock for past couple years, and now foreign currencies are doing the same, so what appears to be a rising dollar is only an illusion of strength.

Watching the Iraqi dinar brings a smile to my face as it is one of the few currencies other than Yen to show strength while the rest of the world is starting to crumble. Everyone holding dinars will be glad they did in the end, so lets hope while most currencies are trying to survive, the dinar will continue to thrive in all economic times, even bad ones like this one.

Change in Value Against the US Dollar Since July 15, 2008
Australian dollar-26.9%
Brazilian real -24.4%
British pound -12.4%
Canadian dollar -13.6%
Euro -13.6%
Japanese yen +2.2%
Mexican peso-15.9%
New Zealand dollar -18.8%
South African rand-17.6%
Swiss franc-11.1%