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

Originally Posted by shotgunsusie

make that three!

Me four!!! Wasn't it kinda strange that "http://www.ameinfo.com/currency" showed an error all day for EUR/IQD live trading (I think Mon or Tues)? Then suddenly it started working again?

This might be a stretch, but I bet it was in anticipation of a vote that already happened and they too were waiting for an announcement. Call me crazy (my wife does ), but the past couple of days with all the investement news seems pretty fishy! I smell a smoke screen!

Originally Posted by celilo

I have a Warka account and I believe that it is probably not necessary at this point since US banks have been trading in dinar. A Warka account has a lot of risk associated with it that should probably be avoided. On the other hand, I obviously believed that Warka was a logical diversification not too long ago. I'm keeping it and my cash in hand at this point, as it's still possible that Warka could turn out to have some benefits.

I'm not at all worried about being on a list. I've traveled to Europe since my Warka investment and did not experience any problems. My bigger concern is identity theft or Warka becoming insolvent.

As for Uncle Sam being privy too my info, you must take that for granted on any financial transaction unless you are sheltered offshore, which it appears that you are from your user name. If the dinar hits, I'll definitely explore offshore financial resources, but I've always been tentative about who to trust. The dinar itself has required little trust since it is a relatively small investment in my case.

al bunnia has more money than god in iraq. they arent going to go insolvent. lol

Originally Posted by ordinaryseawoman

Voices of Iraq: Iraq-Investment
Posted by: saleem on Wednesday, October 04, 2006 - 03:48 PM

Iraq-Investment
Draft investment law misinterpreted by law makers-MP
By Kawther Abdul-Amir
Baghdad, Oct 4, (VOI) – Iraqi parliamentarian Mahdi al-Hafedh, of Iraqi National Slate, said in parliament Wednesday's session a draft investment law was misinterpreted by law makers.
"A draft investment law was planned to encourage foreign investment into the country for local investment was already organized by a law," Hafedh , a parliament economic committee member, told legislators at the 42nd session.
The investment law is "meant to meet needs of financing projects inside Iraq as the country is now totally dependant on oil revenues and is burdened with huge debts," he said.The Iraqi economy relies on imports to meet local demands due to its insufficient industry and agriculture, the legislator added.
"The investment law will not encroach on Iraq's sovereignty given that a large socialist country like Chine depends in 11 percent of its economy on foreign investment, Hafedh said.
The legislator urged law makers to study a draft investment law in view of its benefits to the Iraqi economy.
The parliament 42nd session witnessed a discussion of a draft investment law amidst reservations by some Iraqi law makers.

Iraq-Investment :: Aswat al Iraq :: Aswat al Iraq

"A draft investment law was planned to encourage foreign investment into the country for local investment was already organized by a law"
WAS ALREADY ORGANIZED BY A LAW!

Originally Posted by MC Dig

I believe you are exempt from capital gains if you shift money directly into another investment of "like kind". So, if you sell a house and use the proceeds to immediately buy another, or sell your dinar and buy Euro's or Yen. You still have to pay when you cash out into dollars though. I am in no way an expert on this, just what I have heard talking to people.

In the case of a house, you have a year and a half to buy a new one and the capital gain is rolled into the new one. Investing in a "like kind' currency is Ok as long as it is not done in 2 steps. If the Bank will do it withoug going back into USD, but I see it happening this way, Bank will sell Dinars for USD and then use USD to buy Euros or some other currency.. one it sells Dinars for USD, it is taxable... Before you do anything you sould ask a good Tax attorney, if you can find an honest one.. JMHO..

Originally Posted by ordinaryseawoman

Voices of Iraq: Parliament-Investment
Posted by: saleem on Wednesday, October 04, 2006 - 02:45 PM

Parliament-Investment
Iraqi parliament to vote on draft investment law on October 12
By Kawther Abdul-Amir


Adster beat me to it!!

THE WORD I'M NOT LIKING HERE IS DRAFT! Is this like a rough draft to feel everyone out? And not the real deal? Someone help me out here!

Originally Posted by shotgunsusie

you are taxed on the money once you remove it from an account in usd. as long as it sits there its not taxable. once it is removed for use it is taxable.

hence why you want to look into re-investment of some type. as long as investment gains are reused for other investments they are not taxable. only becoming taxable when they are withdrawn.

This is NOT correct. The only exception is reinvesting a capital gain from a home sale into a more expensive home within a prescribed period of time.

U.S. Agency Announces $7.8 Million To Revitalize Iraqi Agriculture
Iraq's agricultural sector is second-largest contributor to the national economy

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

Washington, 04 October 2006 (USINFO.STATE.GOV)
U.S. Department of Agriculture (USDA) Secretary Mike Johanns announced September 25 that USDA is requesting proposals from U.S. land-grant institutions to strengthen agricultural extension and training at Iraqi agricultural universities.

Agricultural extension means applying scientific research and new knowledge to agricultural practices through farmer education.

Johanns also said USDA is providing its staff support in Iraq and is working to develop agricultural credit training there, according to an agency press release.

"Because much of Iraq's population relies on agriculture for their livelihood, the country's stability partially depends upon the agricultural sector's performance," Johanns said after a September 25 meeting in Washington with Iraqi Trade Minister Abd al-Falah Al-Sudani.

"A strong extension system that responds to the needs of farmers, processors, marketers and others in agriculture is a key element of recovery,” Johanns added.

The Iraq Agricultural Extension Revitalization Project (IAER) will provide extension training programs for Iraqi nationals. The training will enhance agricultural management, production and marketing related to small and medium-sized production enterprises.

The effort was launched August 1 when Johanns and Iraq Deputy Prime Minister Salamm Zukam Ali Al-Zawba'i signed a joint statement of intent in Baghdad. (See related article.)

Training will be provided through partnerships between U.S. land-grant universities and Iraqi agricultural universities in each of the five Iraqi governorates.

In the United States, a land-grant college or university is an institution that has been designated by a state legislature or Congress to receive funding to teach agriculture and carry out agricultural research and extension services.

The goal of the U.S.-Iraq program is to build strong institution-to-institution partnerships that link U.S. expertise in extension training and advisory services with agricultural colleges in Iraq and with Ministry of Agriculture personnel. Among the areas the institutions may address are arid crop production development, livestock production and animal health, and water resources management and irrigation technology.

Through this project, USDA hopes to help restore and expand a sustainable agriculture sector in Iraq that includes an effective extension service based on education and research.

Priority activities will include training extension specialists, long-term degree training, developing distance-learning methods and instructional materials for train-the-trainer extension programs, and field trials, demonstration plots and lab methods for adoption by Iraqi farmers.

USDA is also increasing the number of staff members assigned to Iraq, from two specialists to five. Two agricultural officers will continue to work at the U.S. Embassy in Baghdad, and three technical advisers will work with the Iraqi government. One will specialize in agricultural strategy planning, one in extension and education, and a third in food safety and inspection. All will be detailed for one year.

Because access to credit is essential to doing business, USDA also is working with private agricultural credit organizations to develop training programs for Iraqi partners. Through this effort, USDA hopes to enhance the Iraqi rural credit system and increase farmer access to credit.

The ultimate goal for all the initiatives is to help Iraq develop strategies to rebuild and revitalize its agricultural and agribusiness sector. Iraq's agricultural sector is the second-largest contributor to the national economy and employs one-quarter of its work force.

This initiative builds on other U.S. efforts over the past three years to help Iraq rebuild its agriculture sector. Efforts include private-sector development, livestock and crop improvement, market development and water management.

U.S. Agency Announces $7.8 Million To Revitalize Iraqi Agriculture | Iraq Updates

Originally Posted by jsfletcher

regardless of all the stuff out there, right now one HUGE thing stands out, and that is

" Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states."

We may all want this yesterday, but the above statement is not a rumor, it is from the camels mouth.

AMEN AND AMEN! IT IS A DONE DEAL! COME ON REVAL! MAMA NEEDS A NEW PAIR (OR TWENTY) OF SHOES!

Didn't check to see if this was posted so I will give the link & not post text.
Change to تشرين الاول, 2006 & it's dated 10-05-06.


Translated version of http://www.alitthad.com/paper.php?name=Stories_Archive&sa=show_month&year= 2006&month=07&month_l=%D8%AA%D9%85%D9%88%D8%B2

Originally Posted by readytogo

THE WORD I'M NOT LIKING HERE IS DRAFT! Is this like a rough draft to feel everyone out? And not the real deal? Someone help me out here!

Might just be semantics. Perhaps what we call a "bill" here in the states they may be calling a "draft".