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

With the lack of any other logical explanation for no phone service and road closures (unless someone mentioned one and I forgot which is quite possible ), I am still leaning towards Treater's thoughts here.

Heres what I think, shut the streets down, lay the wires (obviously the computers are gonna have to be shut down, hence no cbiraq.org for a few days). In the mean time give the bank employees a few refresher courses (don't wanna be bothered by phone calls, people are trying to learn here.) Weekend hits, bank clears out, along comes the IT crews to get all this wiring in place, new servers up and running smooth, and programs updated/installed (hence cbi comes back online tests are preformed, software is tested, ect) and thats where we are at now. "Restucturing" has to be more than a mere word, Sunday morning workers are introduced to the new system, maybe everything changes from there, or maybe they get a week to get used to it before the "real deal".

potsed by paynes over at iif

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The Marshall Plan
The Marshall Proposal of Assistance to Europe, July 10, 1947; European Recovery Program; Secretary of the Treasury, Alphabetical File; John Snyder Papers.

Pg 9 last pargraph.
"The most important being the establishment of REALISTIC RATES OF EXCHANGE among the European countries. Experience has shown that when a countrys RATES OF EXCHANGE are widley out of line with realitive purchasing power - the flow of goods is impeded."

How will they be able to justify a higher peg to make thier rates of exchange in line with other countries to the International Monetary Fund.

The Justification.
Icarus posted this awhile back http://dsbb.imf.org/vgn/images/pdfs/opguide.pdf
Low and behold we have a 77 page manual called International Reserves Foriegn Currency and Liquidity on page 62 apendix v we have the start of a template that Countries can submit exchange rate fundamentals on if you look at pg 65 under futures you notice a place where oil can be sold as a future.



http://www.imf.org/external/np/sta/i...eng/curmar.htm
This is the same format as the template. It has it all Sdrs, Futures, gold, Derivitives Etc. Morocco does not list oil as part of its exchange rate in the futures section. However, Morocco has a Exchange rate of http://finance.yahoo.com/currency/co...submit=Convert around 11 cents per us dollar, and thier Holding of currency within fund as of July 31, 2006 is http://www.imf.org/external/np/tre/t...ition_flag=YES


Tunisia has a template too, and it has includes the balance of payments, gold , securites, and it is the same as Moroco because it does not list Oil as a
Future.http://www.imf.org/external/np/sta/i...eng/curtun.htm
and there exchange rate is http://finance.yahoo.com/currency/co...submit=Convert 75 cents to US dollar. and there holding of the within the the fund as of July 31. 2006 is http://www.imf.org/external/np/tre/t...ition_flag=YES

What do get when you go to a major Oil Producing country and look at thier stats. http://dsbb.imf.org/Applications/web...t/?strcode=KWT You will see no template at all huh, makes you go hmmm.
Kuwait enjoys a high exchange rate with the US. http://finance.yahoo.com/currency/co...submit=Convert
It does not make sense that a country such as kuwait should have such a high exchange rate unless it is do to with oil.

Morocco has 517,756 362 in Imf fund holdings with 11 cent exchage rate.
Tunisia has 266,274, 397 in Imf fun holdings with 75 cent exchange rate
Iraq has http://www.imf.org/external/np/tre/t...ition_flag=YES
1,314,472,991 in Imf holdings. with a .00068 exchange rate. A tad bit undervalued exchange rate for a country that might have more reserves than Saudi Arabi and and between $1.00 and $1.50 extraction cost per barrell of oil.( Sporters Article)

Here is sporters article its a good read.
Oil in Iraq: the heart of the Crisis - Global Policy Forum - UN Security Council
This came form a prior thread.
http://www.investorsiraq.com/iraqi-g...light=peak+oil

The whole key to this is template of the Imf. They can use the foward contracts or futures options on the template to boost thier reserves position. We also know that Electonic Stabilization fund has been used stabilize the currency crisis in Mexico for oil payments an even Brazil has received some benefit from the ESF.

The Electronic stabilization fund also allows for alot of different types ways of intervention.
1. Purchase or sale of Foreign currency
2. Acquistion or use of special drawing rights.
3. Loans or Credit to other central banks such as the case with Mexico.
4.Wharehousing

The treasury seems to have more than enough money in the Esf to stablize Iraqs economy by helping defend its exchange rate.
http://www.treas.gov/offices/interna...ent_082006.pdf
Notice I said defend the exchange rate instead of backing it.

We have also learned that secratary of the United Staes has broad powers in being able to turn dollars into Sdrs.
By the way Sdrs are part of the International Monetary that allows the easier exchange rates between countries. Some Countries have thier currency pegged to the Sdr. I think I remember Jordan being one of them.

The "Secretary of Treasury" [Governor-IMF] issues an international letter of credit called a "Special Drawing Rights Certificate" to the Federal Reserve Banks "in such form and in such denomination as he may determine". The SDR is deposited in the Federal Reserve Banks which in turn credits the account of the Exchange Stabilization Fund (ESF) with Federal Reserve Notes in an amount equal to the value of the SDR certificate. SDR's became the "collateral security for Federal Reserve Notes". The "Secretary of Treasury" [Governor-IMF] issues an international letter of credit called a "Special Drawing Rights Certificate" to the Federal Reserve Banks "in such form and in such denomination as he may determine". The SDR is deposited in the Federal Reserve Banks which in turn credits the account of the Exchange Stabilization Fund (ESF) with Federal Reserve Notes in an amount equal to the value of the SDR certificate. SDR's became the "collateral security for Federal Reserve Notes..........................................

link The Truth About Money

We have also proved that it was this adminstrations objective to go go to war with Iraq prior to Bush taking office. Why would they go to such great lengths to go to war with Iraq unless it was about oil. If this is truly the case then the United States will back thier currency to have access to cheaper oil so we the Us will remain a super power and have a friendly mideast country to do business with that has the second largest reserve of oil in the world.

The International Community has also bought into the International Compact because it could possibly mean cheaper oil because Iraqs true potential as a Oil producing nation never has been tested and the the only thing that Goverments in the International Community care about is keeping thier own goverments running along nicely. They can only do this thru cheap oil.

I dont know when or what day but I smell money in the air.

Anybody else got any Ideas?

Originally Posted by Pegasus

If you want good info, then we need you to stop posting.

that was rude.
he speaks another language and is trying to comprehende whats goin on and has to go through alot of stuff that makes no sense in this thread of news items.

Originally Posted by Cdn Scrooge

Ok , I have a couple questions for folks to ponder.

CBI's website was down, and the phone lines were out (people tried to call them and couldn't get through).

Where and how did any auctions take place? You couldn't possibly have an auction without communication. And I highly doubt that they all gather in some hall somewhere and have a show of hands to conduct the auction.

My gut feeling is that, in fact, there were no auctions after monday and the rates faxed to brain's exchanger were the last rates posted, repeated each day. I may be wrong but that is my opinion.

With regards to RR's conversation with that lady at BOA... maybe her reference to "no trading for a few days prior to a change in the exchange rate" was a reference to the situation in Kuwait when their reval went through. I'm thinking that because there has been no "significant" change in the rate for IQD since it was established in 2003. And it seems to me that somewhere in all these posts recently someone pointed out that trading in Kuwait currency was suspended for something like 5 days before the reval there.

To all who missed it...

I'm the one who pointed out that the Central Bank of Kuwait suspended trading between December 29, 2002- January 5, 2003...

January 5, 2003 is the day Kuwait had pegged to the US and became the highest valued currency in the world...

Here is the link and info to find this and see for yourself...

Once you click the link to CBK, look on the left and under Market Data click on the Archive link.
Under archive data click on link to weekly reports archive.
Scroll down to area where December 29, 2003 is last data posted and look next report recorded was January 5, 2003...

Central Bank of Kuwait

Too much of a coincidence...

Originally Posted by TheBrain

So BS is universal? Good to know.

YOU LEARNED SOMETHING NEW??? HOW COULD THAT BE POSSIBLE????

Guys, a friend of mine on another forum is in need of offloading 3 million dinar. It'll be cheaper than the dealers are selling. They are legit, believe me.

PM me if interested and I'll put in touch.

Originally Posted by TheBrain

I would imagine that each bank, currency broker, changer subscibe to a provider which issues the data their business requires on a daily basis.

Base Currency: Iraqi Dinar, IQD on Monday, October 16, 2006

Currency Code IQD/1 Unit Units/1 IQD
Canadian Dollar CAD 1350.74 0.0008082
Swiss Franc CHF 1207.27 0.0009041
British Pound GBP 2852.19 0.0003826
Japanese Yen JPY 12.8485 0.08496
US Dollar USD 1536.3 0.0007099


Base Currency: Iraqi Dinar, IQD on Tuesday, October 17, 2006

Currency Code IQD/1 Unit Units/1 IQD
Canadian Dollar CAD 1349.31 0.0008089
Swiss Franc CHF 1205.91 0.0009049
British Pound GBP 2851.73 0.0003826
Japanese Yen JPY 12.8511 0.08491
US Dollar USD 1534.7 0.0007108

Base Currency: Iraqi Dinar, IQD on Wednesday, October 18, 2006

Currency Code IQD/1 Unit Units/1 IQD
Canadian Dollar CAD 1348.38 0.0008093
Swiss Franc CHF 1208.8 0.0009026
British Pound GBP 2861.45 0.0003813
Japanese Yen JPY 12.9007 0.08457
US Dollar USD 1533.7 0.0007112


Base Currency: Iraqi Dinar, IQD on Thursday, October 19, 2006

Currency Code IQD/1 Unit Units/1 IQD
Canadian Dollar CAD 1347.32 0.0008098
Swiss Franc CHF 1209.26 0.0009022
British Pound GBP 2869.6 0.0003802
Japanese Yen JPY 12.922 0.08442
US Dollar USD 1534.4 0.0007108

Hmmm....does it say anywhere on these faxes that it is from the CBI? From what I see here it shows the relationship of the IQD to these listed currencies at the last listed price of the IQD (10/16)...the different values reflect the changes in that currencies market rate

How can they fax the info if they have no phone lines working???

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..............asked him about the people's demand this year in the purchase of whether teams from previous years. Vajapana "the level of demand for purchasing more from previous years is a natural result of the increased purchasing power of citizens...................

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Facks sake, on the beers for 3 hours and 11 facking pages to catch up, NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO.