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

I really don't see them letting the dinar float on the markets when all the other GCC countries have theirs pegged against the dollar. If Iraq wants in the GCC, then they will have to be close to the other currencies. I look for Iraq to peg high ($1.47 and up) and keep it there until 2010. Then if they need to adjust up before entering the GCC, then they will. Just my 2 dinars worth.

GCC currencies 'undervalued'
Posted: Thursday, October 12, 2006

Dubai


Currencies are undervalued by as much as 27 per cent in the GCC region, where soaring revenue from oil exports is putting pressure on fixed exchange rates, a report said.

Most countries in the world's top energy exporting region are enjoying large current account surpluses with oil prices surging to record highs over the past two years.

While in theory that should cause exchange rates to appreciate, members of the Gulf Cooperation Council -- Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman -- are keeping their currencies pegged to the dollar. "

GCC currencies 'undervalued' - Middle East Business news related to travel, food, hotel, real estate, health, oil and more

Originally Posted by worf

I like your positive thinking but I have often wondered if it doesn't r/v this week/month, with Iraqis getting their 10k of dinar, spending it all on daily essentials, then all of a sudden a few days later, or a few weeks later, the r/v hits, won't that drive the average Iraqis bonkers with the govt? I fear rioting in the streets to such a degree as we haven't seen before. This will lead to the dems taking over both houses in congress and Baker's plan to pull out of Iraq and or replace the existing govt with a new one which imo will set everything way back for the Iraqis and us. The whole thing is avoidable if they just r/v their currency and give the everyday Iraqis something to live for then they won't be in such a hurry to blow each other up. imo

I realize there are those on this forum that don't like reading posts like this but at least it is honest and relavant to all of the news posted here. I have been with this forum (the dinar part) since the spring of this year, been through numberous predictions with dates set and then missed. I am in no way critical of these posters for they all meant (mean) well but we are getting to the end of the end of this imo. It is now crunching time. They need to r/v this thing and quit facking around imo.

worf

First of all I like reading this opinions because I like to see different point of views.

Second, I think you have a great point there. If I were an Iraqi and suffering which is getting worse and worse and I got 10K worth $6 and a few weeks later it is $10,000 worth I felt screwed by the governement and would been pissed off.

Like Adster said it has been given last year but I think the circumstances are different now. Inflation is much higher, the country is ready for foreign investment and the country is balancing on poverty!!

They can't wait forever and it has to happen soon.

I hope this is the occassion and that they give this country a new life!

Originally Posted by TheBrain

The 06 figure sounds resonable and is in direct position with what the IMF has said and required with a heavy dinar of 15/1

.06 with the handouts of 10,000 ID is $600.00 not such a slap in the face as $6.00 would be.

.06 with the police food allowance is $420.00 monthly and some portly officers.

.06 with the students is $6000.00 which can surely provide housing, books, and an education in Iraq compared to nothing.

.06 for the teachers at 200,000 ID is $12,000.00 and that was a raise correct?

.06 for the politicians with the 20 million ID is 1.2 million USD nice chunk.

What other figures were at there that can be included with the .06 the youth club or something?

Thanks for that nice review TB..

Sure helps keep the engine revved.. or is that r/v'd? :)

Randy

(Voice of Iraq) - 10 - 15-2006 | This issue was sent to a friend

In a meeting with Comrade Hamid Majid Moussa : Territories Act depends on the will of the majority of the population

Among conditions and prevent exploitation and confiscation of the will of the people

On the subject of the law of the provinces, which has recently been approved in Parliament ... The space "free" meeting with the secretary of the Central Committee of the Iraqi Communist Party and the following is the text of the meeting :

Free : What is the truth about your position to vote in favor of the law of the provinces, which was considered a departure from the view of the Iraqi List?

Comrade Moses : "We agree that the priority is the security of the file. But that does not prevent or hinder the execution of explicit constitutional entitlements. Non law and the Constitution must be drafted within six months from the start of the House of Representatives. This funeral done ... When differences emerged between all parties, consensus was among the four lists, and a document signed. that is the law through legal and readings across the vote and the commitment that is not the implementation of this law after only 18 months, and that is forming a committee to amend the Constitution, which this happened, we have amendments to the text of the law, , which makes the possibility of achieving the territories depends on the will of the majority of the population and within the terms and conditions and requirements to prevent abuse or exploitation or prevent confiscation of the will of the majority of the population, why when to broach the subject of a vote voted.

Free : Why not vote for the remaining members of the Iraqi List ... You minority who Sotm in favor of the law?

Comrade Moses : Attendees at the meeting were the Iraqi List 15 deputies, 7 and 8 boycotted the meeting supported the presence and voting of the law as amended. This is normal in the Iraqi List, where differing views can be translated into different positions and was aware of the presence in the parliament of 140 members, and therefore the issue of the majority does not materialize only if Balthmaneh did not attend the eight, it was possible to hold another meeting the next day and attend the majority. Therefore Valthoel on this matter is inappropriate and must take the matter in their own natural and nothing in the law that imposes a certain formula or Vdraliat. this was decided after 18 months and there are views and different views about the form of federalism.

Free : Professor Hamid. Accord Front and other parties opposed to this law said it would coordinate with the forces of law and refused to try to adopt a policy within the parliament to block the law ... You are now in the direction of the Iraqi trends with the law and the law against you, how to grasp who Sotm in favor of the law?

Comrade Moses : We are basically against obstruction and seek to work positively and smoothly, the two systems in the parliament and if some have the idea of a federal anti-That the conviction, we will not oblige people who do not have conviction that the subject of federal and responding, but this exercise in a natural, legal and legitimate constitution is still before the State Administration Law was expressly provided for the possibility of the right to form regions, For the minority must accept the opinion of the majority, and this is a natural, to be able to change the situation.

Sotaliraq.com

Originally Posted by TheBrain

The 06 figure sounds resonable and is in direct position with what the IMF has said and required with a heavy dinar of 15/1

.06 with the handouts of 10,000 ID is $600.00 not such a slap in the face as $6.00 would be.

.06 with the police food allowance is $420.00 monthly and some portly officers.

.06 with the students is $6000.00 which can surely provide housing, books, and an education in Iraq compared to nothing.

.06 for the teachers at 200,000 ID is $12,000.00 and that was a raise correct?

.06 for the politicians with the 20 million ID is 1.2 million USD nice chunk.

What other figures were at there that can be included with the .06 the youth club or something?

.06 and i fly to kurdistan to buy up a shiiteload of iraq with my dinar.

Originally Posted by shotgunsusie

.06 and i fly to kurdistan to buy up a shiiteload of iraq with my dinar.

I believe Steve Forbes and some of his contacts will do the same. not to mention everyone in the know.

Interesting read on proposal to increase retirement amounts

If it was posted already I apologize




Discussed by the House of Representatives for approval in the current session
Attorney-Zuhair Ziauddin
Since the publication of the pension law No. 27 of 2006 in the Iraqi newspaper facts and considering the effect of the legal effect from the date of publication in the August 17 January / 2006, which has not been implemented so far due to the issuance of the Ministry of Finance instructions required to implement its provisions in accordance with Article II of the session ...


He wrote much, much was said to express the suffering of a retired However, there is no transponder and now after the resumption of its new session, the House of Representatives and the Ministry of Finance announced that it completed the draft amendment and submitted to the Cabinet in the hope that it picks turn to the House for the purpose of discussion and approval as a prelude to implementation.
For this occasion and contribute to the enrichment and development and updating of the law point out the proposed amendments to some articles of the law and the reasons for these amendments and we hope to reach this voice to the people's representatives in the House and take our proposals into account in the discussion of retirees and equitable access to the law to Almsto j, which meets the aspirations of most retirees.
Starting before turning to the proposed amendments to the law we would like to emphasize the need to maintain the upper limit of the salary of remuneration (80%) of the salary career last for all retirees, which stated in paragraph (ii) of Article (7) of the applicable law, and not confining this ratio is referred to retire after reaching the age of legal deep (63) years, as stated by the Deputy Minister of Finance told the morning and make the ceiling for the rest of retirees (70%) of the salary career regardless of their pension because of this amendment was that it means a violation of the constitution which emphasizes the equality of all Iraqis and will do serious harm to retirees.
The amendments we propose to the law Fsnstardhha respectively show that the proposed alternative text of the required amended and the reasons for those changes.
Article 1 / paragraph ways :
The addition of a novel published in the first article of the law provides (for staff who completed fifteen years of service pensions may request retirement and the minister or the chief of the competent to decide the request ago period mentioned were pending request is allocated to employee retirement notable deals pension rights deserve in accordance with the provisions of this law) and the reasons for this amendment is not mentioned in the text of the law shows the length of service pension served by the employee, and that qualify for the submission of the request of the retirement Except as stated in paragraph (V) of the first article dealing with the case of a staff member who is serving pension Twenty-five years P further, under the age of fifty years and this corresponds to the proposed text of paragraph (1) of Article III of the Civil Retirement Law No. (33) to 66 years (defunct).
Article 1 / paragraph (IV)
The deletion of the item (1) of paragraph (IV) of the first article, which gives the competent minister the power to refer the employee retirement without asked him to prove his incompetence, and the re-wording of the paragraph as follows (the competent minister or head of the non-assignment of the Ministry employee-appointed by a presidential decree or order of the Prime Minister to Altka if the count plus the owners or landlords because of the coordination. The abolition of the post. ) The reasons for this amendment is because of the exploitation of the current text of the motives that have nothing to do with incompetence, which would be detrimental to the employee, particularly as the discipline of the State Law No. (14) of 1991 contains procedural and punitive actions against a staff member who is j prejudice to his or her duties.
Article VII / paragraph (IV)
The wording of paragraph (IV) of Article VII and it is as follows (Amendment pensions if the salaries of functional peer retired staff by more than (10%) of salaries last adopted in the calculation of pensions at the time the adjustment of salaries and pensions the same percentage of increase in salaries pw Ranham ongoing service staff) and the reasons for this amendment to the current text, although meant to amend the salaries of retirees in the case of increasing the salaries by their peers (10%), but he did not specify the rate of increase in the salaries of retirees, leaving the door open to judgment and to the detriment of retirees in the case of Ziad e salaries by less than their staff. While the text to be the same percentage increase settle the issue is unjustified because the cause of the amendment is either to improve the standard of living of its employees or to avoid part of the inflation in prices, the presence of the tranches (employees and retirees) are subject to two and must be equality between them.
Article VIII / paragraph (II)
The wording of paragraph (ii) of Article VIII of the Act and make it (calculated reward scheme set forth in Item I of this article by the product of a number of months of service in full (14%) of the salaries of staff during the years of his subsequent to the adoption of a new salary in the 2003 / September 4, it will be the gross amount of reward outstanding. ) and the need for this amendment in the text is that the extraction rate of employee salaries, which was charged during the career service in the period prior to the fall of the regime in 2003 / September 4 was not more than five thousand dinars per month and the adoption of this amount for the application of the equation means that the reward will get will be very low and no value especially if most of his career before the fall of the regime. Therefore, the employee fairness and justice for those who deserve the reward scheme and the one-time career service and non-entitlement to a pension salaries of peace requires the adoption of the new basis for access to the salary rate and the amount of reward.
Article XI
Full repeal of this article because the adoption of the texts contained therein will lead to negative results deprive the one hand, retired from working in government departments, and thus the contract wording deprived of a better life and will lead to a waste of considerable energies to their ability to work and perform the other hand, would deprive the State of experience and competence those placed in retirement as most of the employees are graduates of the new low experience. Note that the wage contract workers are often low and
In most cases exceeds two hundred thousand dinars per month.
Article XIII / paragraph (I)
The amendment to paragraph (I) of Article XIII of the Act to be formulated as follows :
(Similarity deceased (his successor) who are entitled to a pension, one husband-wife or son 2 - 3 - 4-Mother - Father five brothers and sisters). And the reasons for this amendment to add to the brothers and sisters behind the deceased pensioner who deserve a pension because the exclusion would damage them as not in keeping with the strategy adopted by the State to expand the scope of the social welfare system to ensure a decent living for all Iraqis, with the flag that bracket Alajo e and sisters were among a successor who deserve salary turn retired under Article (32) of the Civil Retirement Law No. (33) of 1966 (repealed), as well as the rest of the previous pension laws.
Article XXIX :
Reformulation Article ninth session of the law and make it as follows :
This law applies to all state employees and employees of the military and internal security forces and officers of companies based in-service date of the entry into force of this law and transmit them to retire prior to its entry into force .
The amendment to Article (29) of the Act in accordance with the proposed formula would avoid the substantial shortfalls in the law, which provides for the right to force those in the service of force only deprives retirees to benefit from its provisions, which had been avoided by the Ministry of Finance in the draft amendment, as stated by the officials that the terms of the division of Almetek mining into two segments in terms of benefit only to the differences between the history of retirement inconsistent with the provisions of article (14) of the Constitution which states that Iraqis are equal . The reasons for the law stipulates that the reasons for the legislation (lifting the injustice of the retirees of their rights eroded or neglected), which means that all retirees covered by the law. The distinction between retirees in the pension entitlement of the rights will lead to social strife. In addition, the salaries received by current retirees were identified under the instructions of the Ministry of Finance, The approved by the cabinet and not on the basis of legal provisions which required that payment of salaries under the provisions of the law and through the coverage provisions of the retirement system.
Article (31) :
This article provides for the elimination of all legal texts, which decided to retired or accrued to a pension, contrary to the provisions of this law and then reported exceptions, which amounted to ten laws, orders and resolutions, which constitute the disadvantage of the law, which called retirement common law, which requires legislation or absorb these mostly within a law.

A 70% rate of inflation October 15, 2006 - The Iraqi Under Secretary of Finance, Kamal Al-Basri, said that the high inflation rates in Iraq are" frightening", calling on the State to link production to spending.
He called on the government, in a symposium held by the Iraqi Center for Economic Reform about" the phenomenon of inflation and the role of financial and economic policies", to take on responsibility of dealing with the inflation rates which hit 70%, because of the abundance of cash liquidity and the lack of goods and services. He attributed the abundance of cash to the increase in salaries and wages by 90% from what it was last year, while the goods and services in the market are becoming less for different reasons, including the security status which disturbed the markets. He pointed out that the individuals' abundance of cash caused a rise in prices. A number of Iraqi officials spoke at the symposium and stressed the importance of moving on with the process of comprehensive economic reform. They considered inflation is the reason why Iraqi economy is weak and faltering.
home - A 70% rate of inflation

Hodes and Bass differ markedly on Iraq
By Anne Saunders, Associated Press Writer | October 15, 2006

CONCORD, N.H. --U.S. Rep. Charles Bass says American withdrawal would enable al-Qaida to take control of Iraq, while Democrat Paul Hodes says the American presence there is making matters worse.


Boston.com
Sign up for: Globe Headlines e-mail | Breaking News Alerts When it comes to Iraq, the differences between the 2nd Congressional District candidates are dramatic, separate interviews with the candidates showed.

Hodes has proposed the U.S. withdraw National Guard and Reserve troops and get the remaining American soldiers off of Baghdad's streets to focus exclusively on training Iraqi security forces.

Within roughly a year, he calls for American forces to be stationed on the periphery of Iraq, to lend support to the government when called upon.

Bass, a Republican in his sixth term, said the U.S. is making progress on transferring control of security to Iraqi leaders and withdrawing now would be a disaster.

"I see myself in complete agreement with the administration in that we cannot retreat and allow the country to fall into chaos and for terrorist forces (to) assume the sovereignty of the nation. That cannot be allowed to occur," Bass said.

Hodes argued the presence of American soldiers is causing more harm than good for the Iraqis.

"They are using the presence of American troops as a crutch to prevent, to stand in the way of their reaching the kind of political solution they have to reach," he said.

"If we leave the Iraqis to deal with each other, they are going to have to make a decision, which we can't make for them, as to whether they care more about the future of their children than they care about fighting with each other."

Bass said he expects troop levels will be reduced over time, but said certain conditions must first be met.

"The condition is going to be that the government is capable of protecting the people in an adequate fashion from sectarian violence; that the people have adequate trust in the security facilities so the economy can start to recover; and normal institutions can function," he said.

Bass pointed to a new initiative by Iraq's prime minister to persuade the militias to disarm and said it should be given time to produce results.

Nouri al-Maliki's plan calls for the creation of local Shiite-Sunni committees that will oversee policing in each district of Baghdad.

Bass also said the need for U.S. troops in Iraq should be determined by military commanders there. U.S. commanders offered pessimistic views on the subject last week, saying current force levels are likely to stay level through the spring and could increase. The Army has contingency plans for keeping the current level of soldiers in Iraq through 2010.

However, Bass said it's important for the Bush administration to be flexible and consider alternatives if the Iraqi government is unable to control the sectarian violence that producted record civilian deaths in Baghdad last month."In the Balkan region, they wound up with separate countries and that may be where we're headed," he said.

Iraq's Shiite-led parliament last week pushed through a law allowing the formation of federal regions despite Sunni Arab objections that this will splinter the country and fuel sectarian violence.

Sunnis fear Shiite and Kurdish control of the oil wealth of the south and north, leaving Sunnis in an impoverished central zone.

Hodes said only Iraqis can decide their country's future.

"You have to go back to the fundamental questions about the right of any country to dictate to another country what form of government they will have," he said.

The candidates also differ on the impact of new rules for handling wartime detainees, like the hundreds held at Guantanamo Bay, Cuba, some for more than four years.

"They are not prisoners of war and they are not common criminals ... so the type of judicial process they get has to be different," Bass said.

But Hodes is troubled by the leeway Congress gave the president to interpret provisions of the Geneva Conventions that prohibit torture.

"It seems to me that our country has had its greatest successes when the world has seen us as a beacon of morality and human rights and values," he said. Torturing Iraqi prisoners at Abu Ghraib prison and holding detainees without charging them undercut that image, he said.

"We need to unite our friends and divide our enemies instead of the other way around," Hodes said.

He pointed to the recent National Intelligence Estimate that suggests the war in Iraq has served to recruit terrorists.

Bass argues those fears have been overplayed. "There are a whole lot of other things that have happened that have either depressed or supported more international terrorism," he said. Another Sept. 11 would recruit more terrorists than anything the U.S. does in Iraq, he added.

Bass said he supports improving U.S. relations abroad, but said American's first responsibility is ensuring its own security.

Hodes argued that good international relations are essential to gathering the intelligence needed to protect Americans.

"We need to take a multilevel approach to combatting terror. We need worldwide cooperation," he said.


Hodes and Bass differ markedly on Iraq - Boston.com

Talk of ousting PM threatens Iraq democracy
Marie Colvin, Baghdad
October 16, 2006
IRAQ'S fragile democracy, weakened by mounting chaos and a rapidly rising death toll, is being challenged by calls for the formation of a hardline "government of national salvation".
The proposal, which is being widely discussed in political and intelligence circles in Baghdad, is to replace the Shia-led Government of Nouri al-Maliki, the Prime Minister, with a regime that is capable of imposing order and confronting the sectarian militias leading the country to the brink of civil war.

Saleh al-Mutlak, a prominent Sunni politician, travelled to Arab capitals last week seeking support for the replacement of the present Government with a group of five strongmen who would impose martial law and either dissolve parliament or halt its participation in day-to-day government.

Other Iraqis dismissed the idea that a unilateral change in the leadership would be desirable or even possible.

"The only person who can undertake a coup in Iraq now is General George Casey (the US commander) and I don't think the Americans are inclined to go in that direction," said Ahmed Chalabi, the head of a rival political party.

A suspension of the democratic process would be regarded as a severe blow to US and British policy. The establishment of democracy has been the allied coalition's cornerstone and successful elections last December had been hailed as a cause for optimism.

But Anthony Cordesman, an influential expert on Iraq at the Centre for Strategic and International Studies in Washington, said there was a "very real possibility" that Mr Maliki could be toppled in the coming months.

"Nobody in Iraq has the military power to mount a traditional coup, but there could be a change in government, done in a back room, which could see a general brought in to run the Ministry of Defence or the Interior," Mr Cordesman said.

"It could be regarded as a more legitimate government than the present one as long it doesn't favour one faction."

This weekend Dr Mutlak, who leads the Iraqi National Dialogue Front, the fifth-largest political group in the National Assembly, vowed to press ahead with his plans. "We think Iraq is now in a tragic state," he said.

"Maliki must step down. He has done nothing up to now. Hundreds of Iraqis are being killed almost daily and thousands are being removed from their homes in sectarian purges, and he takes no action."

The main focus of a new regime, Dr Mutlak said, would be to bring security back to Iraq by "cleaning out" the ministries of Defence and the Interior, widely seen as having been infiltrated by sectarian militias. He said he had the support of four other parties, including al-Fadila, a Shia party that is based in Basra.

Dr Mutlak's proposal is evidence of an increasing frustration with Mr Maliki, who has failed to stop violence and to revive the economy. Iraqi officials estimated last week that up to 100 people, mostly civilians, were being murdered every day.

The weekend's grim reports included the discovery of seven headless bodies north of Baghdad. They were among 17 Shia construction workers kidnapped last Thursday, apparently in retaliation for the burning of three Sunnis the previous day.

Car bombers also blitzed the oil city of Kirkuk yesterday, killing 10 people in five attacks, including one on a girls' school.
Talk of ousting PM threatens Iraq democracy | The World | The Australian