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

thanks mike....and u are right....waiting on pips has taught me patience....a lot of it.....lol......at least with iraqi dinars there ""IS"" a light at the end of the tunnel....2 months is not that long a wait...been waiting on pips since february of 2005.....lol...i just hope it pegs at a good rate to start....then i'm sure it will go higher in time......IMHO...thanks to u and adster for all of your input and knowledge on the situation.....Pat

Hi,

In the events of the last couple of days do you think that when the peg comes it will be against the euro, the dollar is trading 1.88 against the pound this morning, the value of my investment is reducing by the minute if if it goes to the dollar.

Originally Posted by abbey56

Hi,

In the events of the last couple of days do you think that when the peg comes it will be against the euro, the dollar is trading 1.88 against the pound this morning, the value of my investment is reducing by the minute if if it goes to the dollar.

It is not really going to matter. IMHO. You are still going to make money on your investment. Maybe not as much as what you originally thought, but more than what you paid for sure. You should still come out ahead. Or am I missing something vital?

Originally Posted by abbey56

Hi,

In the events of the last couple of days do you think that when the peg comes it will be against the euro, the dollar is trading 1.88 against the pound this morning, the value of my investment is reducing by the minute if if it goes to the dollar.

Interesting,

Yes, the dollar is down, but it will make no difference once the dinar is listed on the FOREX. So the values will be against whatever currency you are exchanging, so the rate of the dollar will have its own value, while against the pound, whatever that value is on the day you exchange. In fact, I would rather be holding the dinar over the dollar right about now. (g)

Good luck to all, Mike

Offshorewealth or Adster,
would any of you (or both )venture a guess on how high the peg will be? Any "inside information" on that?
Karin

Originally Posted by karinc

Offshorewealth or Adster,
would any of you (or both )venture a guess on how high the peg will be? Any "inside information" on that?
Karin

Greetings Karin,

Wish I could say for sure, but the best insider information is that it will revalue in two stages, first a smaller one and then settle around the .30 to .40 range per dollar within a couple months. I suspect it will rise from there over the next few years as middle east region begins trade, the currencies will be in line as they once were, so lets hope it reached the former levels of $3.40 range, now that would be worth hanging on for. (g)

Good luck to all, Mike

So if it initially pegs at, say .30, that means that $1 million dinar would be worth about $300,000?

Is this correct?

And for an American, roughly what percentage of the $300,000 (if that is correct) will have to go to capital gains taxes?

Thanks.

Ohhhhh Cr*p....forgot about taxes. Hey experts! How much are we going to have to cough up to 'the-man' ? lol!

Hey All,

This was in our local daily newspaper (The Buffalo News) today May 15th......
************************************************** *****
Surging violence kills 28 as Iraqi deadlock goes on
By SAMEER N. YACOUB
Associated Press
5/15/2006
BAGHDAD, Iraq - A pair of suicide car bombers killed 14 people Sunday in the biggest insurgent assault in months on the main road to Baghdad's airport. Other attacks killed a dozen more Iraqis and two American soldiers elsewhere in the capital.

A weekend of stepped-up violence across Iraq, which included six attacks on small Shiite Muslim shrines and the bombing deaths of two British soldiers late Saturday near the southern city of Basra, came as politicians again failed to agree on a new Cabinet.

There had been hope that Prime Minister-designate Nouri al-Maliki would fill at least some Cabinet posts when parliament convened Sunday in Baghdad's heavily guarded Green Zone, perhaps even taking on for himself contentious roles such as heading the Interior and Defense ministries.

Al-Maliki's mandate to form a Cabinet expires May 22. If he fails to meet that deadline, President Jalal Talabani has 15 days to designate a new prime minister to try to form a Cabinet. The constitution is unclear on whether he could pick al-Maliki again.

Lawmakers have struggled since Dec. 15 parliamentary elections to put together a national unity government, which many Iraqis and the U.S. government hope will lessen sectarian tensions and undermine support for the Sunni Arab-dominated insurgency.

The negotiations have bogged down in squabbles over the allocation of key Cabinet jobs.

As the 275-member parliament convened, a party loyal to firebrand Shiite cleric Muqtada al-Sadr threatened to propose its own Cabinet list if other groups did not scale back their demands for roles in the new government.

Legislator Bahaa al-Araji of the United Iraqi Alliance denounced what he called U.S. meddling in the talks and called for settling the matter in two days. But the Shiite bloc has only 130 parliament members, which isn't enough votes to seat a Cabinet.

A coalition of three Sunni Arab parties holding 44 seats warned that it would withdraw from the political process if it did not get at least one key post such as the Defense Ministry.

That threat came several days after a Shiite party with 15 lawmakers pulled out of the Cabinet talks because it was not given the Oil Ministry.

The U.S. command said a roadside bomb just after dark Sunday killed two U.S. soldiers in east Baghdad, raising the toll to 2,439 since the war began in 2003.

Late Saturday, a roadside bomb killed two British soldiers and wounded one as they patrolled in an armored vehicle near Basra, Britain's Ministry of Defense said. A total of 111 British military personnel have died in the war.

Baghdad's deadliest attack Sunday involved the twin suicide car bombs that exploded near a main checkpoint on a four-lane road leading to Baghdad's international airport. The blasts killed at least 14 Iraqis and wounded six.

Twelve other Iraqis were killed in Baghdad by four roadside bombs - three that targeted Iraqi police patrols and one that exploded in an open market.

The weekend also saw attacks on a string of small Shiite shrines east of Baqouba, capital of the religiously mixed Diyala province 35 miles northeast of Baghdad that has been a flash point of sectarian violence.

************************************************** *****

The parts that caught my eye are paragraphs 3-4 & 5. Could this actually happen? Could they just "not agree" and scrap the whole thing? I hope not, I know how the media LOVES to focus on the negative and drama, so I thought I'd ask here and see if anyone else has seen anything like this.

The link is... http://www.buffalonews.com/editorial...15/1007733.asp

Dreaming about Dinars....
Tiffany :-)

Originally Posted by karinc

Offshorewealth or Adster,
would any of you (or both )venture a guess on how high the peg will be? Any "inside information" on that?
Karin

Karin,

I'm hearing from a couple of sources saying in the region of .70 to 1:1 within 7 weeks dependant on the government being totally formed and in place by 22/5, take it for what it is though. I've learnt not to build my hopes up on rumours!! Currently we're waiting on a couple of posts being filled as below. The Sunni minority were in power for a very long time and they are going through detox. It will take the strong will of a great leader to set this in the right direction.

There's no doubt it will reval, Kuwait's has, Saudi's they're saying will follow, so reason why other countries in the region like Iraq won't do the same soon.



Talabani rejects incomplete Iraq cabinet
by Simon Ostrovsky May 15, 2006

BAGHDAD (AFP) - Iraqi President Jalal Talabani insisted he would not accept the formation of an "incomplete" government, with the key interior and defence ministry posts still undecided five months to the day since the country's landmark election.

Talabani rejected calls for the defence and interior posts to be filled temporarily to end the long-running political deadlock, as Shiites, Sunnis and Kurds jostle for power.

"The presidency does not wish to see the presentation of an incomplete government lacking the defence and interior posts," he told reporters.

Prime minister-designate Nuri al-Maliki, a Shiite, has until May 21 to announce his cabinet

"There is an agreement that these two ministries should go to independents on which all party lists agree," Talabani said, adding: "God willing, the new national unity government will be announced before the end of the week."

In an important concession from the Sunni Arab bloc, Sunni Vice President Tariq al-Hashemi said defence should go to a Sunni member of the secular party of Shiite former interim prime minister Iyad Allawi, whose members include both sects.

"The interior ministry should go to a Shiite but he should be approved by all the other lists," Hashemi said. "The defence ministry should go to Allawi's list and should be approved by everybody."

Meanwhile, the US military said it had killed 16 suspected insurgents including a local Al-Qaeda chief and arrested eight in raids on Latifiyah, south of Baghdad.

The Iraqi defence ministry said it killed two insurgents and arrested 42 in Latifiyah, while another 23 were arrested in the restive city of Ramadi west of the capital.

A joint US-Iraqi force also killed four insurgents in raids near Tal Afar, near the Syrian border, where 165 suspects were arrested, the ministry said, adding that another 12 were arrested in three other operations.

http://news.yahoo.com/s/afp/2006051...aq_060515134640