Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by shotgunsusie

actually lance at iif helped us set up the account at warka initially and when warka sent out an email about investing in the isx through a proxy for now until it can be transfered into our name we thought heck yeah. the new laws they just passed and the new FICA-like govt. backed program should take care of the money protection.

i mean even if somethin happens to that over there weve got enough in hand to compensate ! lol but in the meantime one stock we chose (yes you can pick your own stocks) has split. every one of them have increased in value and thats BEFORE the FIL is implemented. LOOKOUT AHEAD!!!

Originally Posted by ordinaryseawoman

I just did this not too long ago. All the details are at IIF--check out the Iraqi Bank accounts, and the ISX sections.

In a nutshell, you'll need to email Warka and basically tell them you want them to open an account on your behalf. You'll need to scan your driver's license and scan a letter authorizing them to open a dollar/dinar account on your behalf...jpeg files work best I think. In a couple of days you'll get a very nice email from the good folks at warka that will include your account #. The account is good for both dollars and dinars.
After you get that sweet little email you'll want to give them a heads up, letting them know you'll be wiring funds very shortly. In that email let them know you want them to convert all your dollars to dinars immediately upon receipt. You can wire from your regular bank, it is LEGAL to do so, if your bank won't do it, go to another branch.
Wiring instructions will be included in the email that has your account #. Basically you'll wire funds to a bank that warka has an account at--I go with Commerz bank in germany...warka will withdraw the funds from the intermediary bank, put them in your account and viola--you are now the happy person with MILLIONS in the bank.

from there you can order stocks, buying THOUSANDS of shares at a time...

IIF is good for this sort of thing...there are lots of threads and posts that will walk you through it step by step. This is the short and sweet of it.

here is my first email:

To: [email protected]
> Subject: RE: To Open New Accounts
>
Dear R.M.,
>
Please open a USD and an IQD Savings Account on my
behalf. Attached are my driver's license (with
signature) and authorization letter.
>
Thank You.
Kind Regards,
Tracy H

Good luck (It's a race against time at this point!!)

Thanks SGS & OSWom

Guess it is time to start thinking about what to do. Do yu have any legal documents that give details about Proxy (I am aware of the term - but not in this context) Dont want to be too trusting with my hard earned Dinars.
Also, am I to understand that you can by directly at the CBI rates.
What about the Dinar I currently have in my possesion, can they be wired from Chase in NY into Warka account.
And why not just have an account with CBI directly or proxied.

Thanks for your response. I have a difficult time navagating around IIF -
so many extraineous threads (one sentence threads - maybe Neno needs to share some Mod tips to those folks ) besides I may be BANNED over there.
Can either of you send me a link to the page either here for everyone or in a PM. Thanks again!

Marlene

Middle East Economic Survey



VOL. XLIX

No 40

2-Oct-2006



IRAQ



The Geopolitics Of Oil



By Issam al-Chalabi

The following paper was presented by Issam al-Chalabi at the 27th Oil & Money Conference held in London on 18-19 September 2006. Mr Chalabi is a former Iraqi Minister of Oil and a former President of the Iraq National Oil Company.



Since the discovery of oil in Persia in the late 19th century and in Iraq at the beginning of the 20th century, oil has been a focal point in all major events in the Middle East. The distribution of oil in various parts of the region was a major factor in defining the boundaries of the newly-established Arab states in order to safeguard the interests of the major world powers after the fall of the Ottoman empire. There are numerous events, conflicts and even wars in which oil was a central issue, if not the sole issue. Moreover its importance has grown over the years as the world’s dependence on Middle East oil has increased. With two-thirds of the world’s oil reserves and a third of its gas reserves, the Middle East, and particularly the region surrounding the Arabian Gulf, has become vital for the world and will remain so far many years to come.



My presentation today will only relate to Iraq, a country that has remained at the center of attention for many years due to the 1980-1988 Iraq-Iran war, the invasion of Kuwait in August 1990, followed by the second Gulf War and the March 2003 downfall of Saddam Husain and his regime at the hands of the invading forces led by the US. Whether or not oil was the real target of that invasion will surely remain a subject of controversy for researchers and politicians for decades to come. However, one of the architects of the war, US Defense Undersecretary Paul Wolfowitz, when asked why the US did not attack North Korea after it admitted to possessing weapons of mass destruction, replied without hesitation: “Iraq floats on oil.”



The Iraq war has become more controversial as virtually everything has turned sour: the political process is deadlocked, security deteriorates year after year and month after month and the economy is in shambles, with unemployment reaching 51% and severe shortages of fuel, electricity, water and every other indicator. On top of that, the performance of the oil industry has fallen short of the minimum expectations both upstream and downstream.



The current status and future prospects of the Iraqi oil industry have been discussed on many occasions, so today I would like to deal only with the latest developments that will shape the destiny of Iraq and determine whether it will remain a unified country or disintegrate one way or another. The interference, interests and influence of outside forces, particularly the US as the main player and regional players such as Iran, will no doubt continue to play a major role, but I would like to concentrate on internal geopolitics and the conflicting agendas of the main factions and groups.



When Iraq’s draft constitution was promulgated in August last year, I said from this podium that “the relevant articles on the oil and gas industries seem to contain the seeds for conflicts and possible fragmentation.” That was one of the main reasons for threats to boycott the 15 October 2005 referendum, threats which were only averted after strong lobbying by the US administration and the insertion of Article 142, which cleared the way to amending the constitution through the establishment of a parliamentary committee within four months of inauguration of the new parliament. It has been almost eight months since that date, and the deputies are still arguing about the definition of the starting date.



This led to two major developments in the form of attempts to establish controversial laws prior to any possible amendments to the constitution. The first relates to the insistence of the Kurdistan Regional Government (KRG) on the full ownership, control, development and operation of the oil industry, both upstream and downstream, in accordance with its own interpretation of the disputed articles on oil and gas. As an example, Article 111 of the constitution states that “oil and gas is the property of all the Iraqi people in all the regions and provinces.” However, the KRG says that such resources within Kurdish areas are owned only by the people of Kurdistan. It also says that the regional parliament of Kurdistan is the sole legislative authority over all petroleum operations in that region.



The KRG on 7 August published the draft of a proposed petroleum act and followed it last week with a final draft to be submitted for enactment. This move came as a surprise to the central government, which was itself preparing a draft hydrocarbon law for the whole country in a ministerial committee headed by the deputy PM, Barham Salih who happens to be a leading Kurdish figure and representing the Kurdish parties in the central government. Among other controversial articles in the Kurdish legislation, it is stated that it will apply to all “disputed territories,” meaning the currently-producing Kirkuk, Mosul and other oil fields as well as all other undeveloped fields. It clearly states that no law, contract or license issued by the central government can be applied without the explicit agreement of the KRG.



The Iraqi Oil Minister Husain al-Shahristani said a few weeks ago that there will be only one authority in control of oil resources. Yet there has so far been no official reaction to the latest Kurdish move, and it remains unclear what will be the fate of the draft hydrocarbon law that is supposed to be finalized and submitted to the Iraqi parliament for legislation by the end of the year. The KRG is continuing to sign production-sharing agreements for blocks and structures under its control, as with DNO of Norway, Genel Energi of Turkey, PetOil of Turkey and Canada’s Western Oil Sands and Heritage. In one of these agreements profit oil will be shared on a 51-49% basis and cost recovery oil could reach as high as 80-90%.



The second major development is politically motivated but is also focused on the oil wealth in the southern part of Iraq. The Supreme Council for the Islamic Revolution in Iraq (SCIRI), one of the main groups in the present government, last week submitted to parliament a controversial draft law detailing the mechanism for establishing regional governments similar to that in the Kurdish region. However, this was strongly opposed by other parties within the same coalition as well as other groups outside it. This is being looked upon by some observers as a possible sign of national aspiration against the latest tide of sectarian motivations.



A federal region in the southern part of Iraq could encompass up to nine provinces, including three oil-rich provinces - Basrah, Misan and Thi-Qar – which contain oil fields with proven reserves of nearly 80bn barrels, or over 70% of Iraq’s current proven reserves. These include undeveloped super giant oil fields such as West Qurna, Majnoon, Bin 'Umar, Halfaya, Nasiriya, and Ratawi and nearly 30 other fields.



Currently Iraq’s oil exports are limited to those from the Basrah oilfields and some from Misan. These generate all the oil revenue on which the central government depends. The mishandling of oil and oil products has been known for some time but only came to light after the formation of the new government last May. Reports of missing oil barrels, smuggling and mishandling of funds have been made public through various channels, including inter alia official reports from the Inspector General of the Ministry of Oil and the Audit Board formed by representatives of the UN, IMF, World Bank and the Arab Fund. The report of the Inspector General of the Ministry of Oil listed seven illegal berthing facilities used for smuggling of oil products that had cost Iraq nearly $1.5bn. The Audit Board talks about hundreds of millions of dollars misplaced or missing.



The current Iraqi National Security Advisor, Muaffaq al-Ruba'i, said on 14 June that oil is at the heart of much of the heavy fighting around Basrah. “These oilfields are the richest in Iraq and constitute all the current Iraqi exports,” he said. “If you don’t understand what’s happening there, follow the dollar sign. There is a 6,000 b/d difference between the level of production for exports and the level of actual exports. It goes into the pockets of warlords, organized crime and political parties.” This figure for missing barrels is in fact much lower than estimates by other sources, but even at this level it adds up to nearly $130mn over and above the $1.5bn for smuggling and mishandling of imported oil products in the official ministry report.


In conclusion, I would like to make a second reference to my presentation a year ago at this conference, which some participants thought was rather pessimistic. The figures for production and exports were as I predicted. For the first eight months of 2006, production was 2.090mn b/d compared to the 2mn b/d I predicted, with exports averaging 1.506mn b/d compared to 1.5mn b/d. As for the future, I do not think that 3.5mn b/d will be attained before 2009-10 or that 6mn b/d will be reached before 2012 at best.

The Geopolitics Of Oil

I See You - You Know Who You Are!

Mind Melding Went Over Very Well This Weekend,
Also The Neysayers Cotacted Me On Saturday Wanting To Order A Bunch Of Dinar - So I Took A Safedinar Cut - Saved Them The Fedex Fee Though. Last Time I Do That! Everybody Has The Contacts And The Rc Site.

Atleast 3 Tellers At My Chase Bank In F.m. Qns, Ny Have Invested And I Gave Them All The Rc Site To Check The Investment. If Your Out There - This Is Me The Woman Who Is In The Bank Atleast 1-2times Per Week Either Picking Up Or Odering- No It Is Not All Mine. If You Are Out There Feel Free To Pm Me And Say Hello So I Know Who You Are On The Forum.

Marlene C. In Ny

"The Geopolitics of Oil"

This still supports the notion that the central gov't needs to act FAST before Iraq fragments. No end-of-year bs; the Kurds are already on their way.

I hate to sound cynical, but as former Minister of Oil he knows exactly where all the kickbacks are going, but that's just reality. Even so, there is still huge profit to be made. Let Exxon move in, put the local warlords on the payroll as 'security' and call it a day. It still works out in the end.

this is kinda odd, found this on a news site
áÇ ÊÞÑà åÐÇ ÇáÎÈÑ!

Do not read this news!

2006-10-04 :43:09 AM







--------------------------------------------------------------------------------

Family Under current Minister living in London, getting from the shops (Harut, Regency Street). Famous in London! The lead sons and daughters and his wife cars (Mercedes and Rose Rice)! Maintains daughters with their husbands in Vll newly purchased! Family assets (militant)! The several million dollars!

not sure if its been posted but here goes

ÍßæãÇÊ ÇáÍÑÇãíÉ ... ÈíäåÜã 15 æÒíÜÜÑÇð ÇÚÊÞÜÇá 159 ãÓÜÄæáÇð ÍßæãíÜÜÜÜÇ ÈÊåã ÇáÝÓÜÜÜÇÏ

Governments era ... 15 ministers, including the arrest of 159 government officials on corruption charges

2006-10-04 :31:14 AM





--------------------------------------------------------------------------------

The integrity of Iraq issued a warrant for the arrest of 159 former government officials, including 15 ministers and under-secretaries and advisers, charges of financial and administrative corruption. An official at the integrity, "the corruption of the financial perspective is currently before the body is 7.5 billion dollars." He quoted the spokesman as saying, "There are 15 ministers and more than 73, Undersecretary of the Ministry, a government adviser from the former government issued arrest warrants against them in accordance with article 136 of the Code of Criminal Procedure." He added that "there are former Iraqi Minister of the decision is still valid that the arrest warrant did not lapse unless the accused is brought before the competent courts and the judiciary issued at such time its right of the accused." As the official spokesperson for the integrity, "approached the proper authorities to claim the International Police (Interpol) for the recovery of the defendants living outside Iraq and surrender to the Iraqi authorities."

Sotaliraq.com

For the first time. Iraqi Kurdistan participate in the meetings of the General Assembly of the United Nations


Arbil (Iraq) a. P. B : The coordinator of the government of the Kurdistan of Iraq to the United Nations Dindar Zebari said yesterday that he would travel to New York to participate in meetings of the General Assembly of the United Nations as the representative of the government of the province. He said Zebari told the French Press Company for the first time, will his government of Iraq's Kurdistan region in the meetings of the General Assembly of the United Nations and we consider an important step for Iraq at all levels, federal ». He pointed out that the representative of the government of the province will take part in the meetings of the General Assembly within the Iraqi delegation, he said "this matter will reflect positively on the developments and the political aspirations of the Kurds, who are partners in the political process in Iraq».

Waiting for the imam's return to Earth


THE followers of Moqtada al-Sadr believe that the US invaded Iraq to prevent the return to Earth of their sect’s messiah-like figure, the Mahdi, or 12th imam.

Hojatoleslam al-Sadr claims that his militia is preparing for the day when the Mahdi, the last direct descendent of the revered Shia figure Ali, reappears. Shia believe that the Mahdi, who disappeared in 868, will bring justice to Earth.



At a prayer service in the central Iraqi city of Kufa on September 15, the cleric told a crowd of thousands that the Americans were collecting a dossier on the Mahdi to prevent his return. “Did you ever ask yourself about why all of this, the bloodshed and the prisons? Why are the brothers fighting each other for a political game planned by the Americans? This all happened because they (the Americans) are waiting for the Mahdi. This planning started ten years ago. They have a big file for Imam Mahdi and they just need his picture to complete it.”

Hojatoleslam al-Sadr and his advisers are convinced that the Americans want to destroy Islam and stop the Mahdi. “The Americans are trying to hijack Islamic movements. They think that these are serving the Mahdi’s interests. Whatever they did in Afghanistan and Iraq are all attempts to hijack the Mahdi’s return.”

A global view on world, UK and business news and comment from The Times and Sunday Times

Baghdad / justice. Translated version of http://www.aladalanews.com/
(Left side just below the front page/more news!)
He met with Vice-President Dr. Adel Abdel Mahdi, Governor of the Central Bank, Dr. Sinan Shabibi

Towards the End of the Article: What is needed is coordination between fiscal policy and monetary policy. (And the Investment Law (We expect him many positive benefits in addition to that one base flows of the economy. The investment flow is not financially, but the country's administrative and Tknlujia addition complement domestic investment in order to increase GDP. As for the possibility of raising the value of the Iraqi dinar. The rise in the value of parents R. rise through reliance on that the country can provide the amount of foreign currency through increased exports, the volume of exports and reduce debt outcome is the economy, which raises the value of the Dinar.

Originally Posted by Mike5200

Waiting for the imam's return to Earth


THE followers of Moqtada al-Sadr believe that the US invaded Iraq to prevent the return to Earth of their sect’s messiah-like figure, the Mahdi, or 12th imam.

Hojatoleslam al-Sadr claims that his militia is preparing for the day when the Mahdi, the last direct descendent of the revered Shia figure Ali, reappears. Shia believe that the Mahdi, who disappeared in 868, will bring justice to Earth.



At a prayer service in the central Iraqi city of Kufa on September 15, the cleric told a crowd of thousands that the Americans were collecting a dossier on the Mahdi to prevent his return. “Did you ever ask yourself about why all of this, the bloodshed and the prisons? Why are the brothers fighting each other for a political game planned by the Americans? This all happened because they (the Americans) are waiting for the Mahdi. This planning started ten years ago. They have a big file for Imam Mahdi and they just need his picture to complete it.”

Hojatoleslam al-Sadr and his advisers are convinced that the Americans want to destroy Islam and stop the Mahdi. “The Americans are trying to hijack Islamic movements. They think that these are serving the Mahdi’s interests. Whatever they did in Afghanistan and Iraq are all attempts to hijack the Mahdi’s return.”

A global view on world, UK and business news and comment from The Times and Sunday Times

That religious fanatics cannot get any worse, then these fruitcakes come along...