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

Originally Posted by www.xealthy.com

SGS - what do they actually mean when thay say speculation! Isnt that basically what we are doing now in this investment?

the kind of speculating i was talkin about is people with big money jumpin in and buyin up a ton of it coz they can. we are little minnows in this huge sea.

i was watching a news channel today i believe it was mnbc and i heard a US government official talking about iraq and the hydrocarbon law today and how it will help iraq and also he said it will be passed in the next month im sorry for being so vague in my post but once i got back home from work i tried to recall what i heard and thats all i got sorry guys

Wasn't sure where to place this but I'm sure Neno will determine that.

I got a little curious about the gold of Saddam and looked around a little bit.

Saddam 'stashed $1.3bn in Switzerland' - War on Iraq - smh.com.au

Saddam 'stashed $1.3bn in Switzerland'
June 21 2003
Deposed Iraqi president Saddam Hussein stashed a fortune worth more than 1.13 billion Swiss francs ($1.28 billion) in Switzerland, a Swiss newspaper said today.
The business weekly Cash said the hoard included 300 kg (661.4 lbs) of gold bars, which has a market value of Sfr4.5 million ($5.1 million), in an account with the gold refinery Metalor in Neuchatel.
The Swiss National Bank also said Sfr386 million ($435 million) were lodged in Swiss accounts in Iraq's name, Cash reported.
The Bank for International Settlements in Basle said it had frozen Sfr750 million ($845 million) belonging to the former Iraqi regime.
The Metalor gold had been paid in by the former Iraqi ambassador in 1991 when the diplomats shut down the Berne embassy at the start of the Gulf War.

The head of Metalor, Hans-Juerg Schaer confirmed to Cash that the gold was circulating in the refinery's workroom. The firm had informed the Swiss economic ministry, the weekly said.
The newspaper said Metalor's operations remained obscure.
Also unanswered was the question of where the gold came from. Gold stolen from Kuwait at the time of the Iraq invasion in August 1990 was still unaccounted for.
Estimates claim Saddam Hussein stashed billions of Swiss francs-worth of assets around the world.
According to the UN Security Council resolution 1483 of May 22, Iraq's confiscated wealth is to be immediately transferred to fund the country's reconstruction
------------------------------
Pierre Legrand’s Pink Flamingo Bar » Well-heeled Saddam has global stash
By Jay Bushinsky
SPECIAL TO THE WASHINGTON TIMES
Published August 17, 2003
GENEVA — If Saddam Hussein is indeed orchestrating an anti-American guerrilla campaign from a hideout somewhere in Iraq, he can count on the billions of dollars he stashed away all over the world to finance his hit-and-run operations.
The latest evidence of the fugitive Iraqi ruler’s ability to return to power by covering the costs of the requisite arms acquisitions and operational outlays is the discovery of a cache of gold bars in a Swiss metallurgic firm — $5 million worth ready for meltdown.
It has been “frozen” by Switzerland’s government and the executives of Metalor who are reported to have engaged in illicit business dealings with Saddam’s half brother and finance chief, Barzan e-Tikriti. Several Metalor executives are being questioned by the Swiss police and Mr. e-Tikriti is under interrogation in Baghdad, where he surrendered to the U.S. military authorities.
Swiss law enforcement officials were not able to act against Mr. e-Tikriti during the two decades in which he ran Saddam’s financial network from this international banking center because simultaneously he enjoyed diplomatic immunity as Iraq’s chief delegate to the United Nation’s local headquarters.
---------------
I highlighted the Metalor name because curiously enough they are named in the below lawsuit, which in itself is astounding. Look at ALL the defendants in this case!!! I emphasized the above link about "ready for meltdown" because I had another article (can't find it now) that stated that this was an ongoing project with Sadaam and that the company had melted down gold prior to this on many occassions. ----------------

Estate of John Patrick O'Neill v. Republic of Iraq, et al

On September 11, 2001, Islamic terrorists perpetrated an attack on the United States that was unprecedented in history. On that day, over 3,000 Americans were killed in simultaneous attacks on the World Trade Center in New York City and the Pentagon in Arlington, Virginia. The attacks were not isolated incidents, but rather a coordinated effort by Islamic Terrorist Organizations. The attacks of September 11, 2001 had been planned for years by an extensive network of Islamic militants with the support, aid and assistance of banks, governments, and individuals. Plaintiffs are the Estate and immediate family of John Patrick O'Neill Sr., former head of the F.B.I.'s counterterrorism division and the world's foremost expert on Islamic terrorism and Osama Bin Laden’s terror network. John Patrick O’Neill, Sr. was killed in the attacks on the World Trade Center.

Plaintiffs collectively demand that judgment be entered against Defendants, jointly and severally, in the amount of ONE BILLION DOLLARS ($1,000,000,000.00)

The Estate of JOHN PATRICK O’NEILL, SR.,
on behalf of JOHN PATRICK O’NEILL, SR.,
deceased, and on behalf of decedent’s heirs-at-law .....


42. Defendant Barzan e-Tikriti is Defendant Saddam Hussein’s half-brother and the former finance chief for Saddam Hussein’s private financial empire. For twenty years, e-Tikriti ran Hussein’s network from Lugano Switzerland while simultaneously acting as Iraq’s chief delegate to the United Nations’ local Swiss headquarters. Upon information and belief, Defendant e-Tikriti laundered money through the Swiss bank Defendant Banca del Gottardo and through the holding company, Mediterranean Enterprises Development Projects (MEDP), moving approximately five billion dollars annually from Switzerland to offshore companies in Liechtenstein, Panama and the Bahamas, and eventually transferred some of those funds to the Al Qaeda network. In addition, e-Tikriti used a Swiss metallurgy firm, Defendant Metalor, to store and transform gold into gold bars, which were then sold for currency. Upon information and belief, Defendant Hussein’s financial network was utilized to support Al Qaeda and the terrorism network.

Does anyone know how to convert troy ounces to ounces to figure out how much 661 POUNDS of gold is worth on todays market?

Cheer!
DayDream

It was on FoxNews on the Big Story with John Gibson interviewing the White House press secretary, Tony Snow.

Snow said that the HCL will be passed in the next month. Fox' NEWS ARCHIVE is not posted as yet will post transcript here when it becomes available.

Originally Posted by sholmes21

i was watching a news channel today i believe it was mnbc and i heard a US government official talking about iraq and the hydrocarbon law today and how it will help iraq and also he said it will be passed in the next month im sorry for being so vague in my post but once i got back home from work i tried to recall what i heard and thats all i got sorry guys

Originally Posted by PlatanoKing

It was on FoxNews on the Big Story with John Gibson interviewing the White House press secretary, Tony Snow.

Snow said that the HCL will be passed in the next month. Fox' NEWS ARCHIVE is not posted as yet will post transcript here when it becomes available.

Didn't they say it was going to pass last week? Then they said it was suppose to pass this week?

Hmmmmmmmmmmmmm................................

Yes, that is what I thought

Originally Posted by goldraker

Didn't they say it was going to pass last week? Then they said it was suppose to pass this week?

Hmmmmmmmmmmmmm................................

Originally Posted by goldraker

Didn't they say it was going to pass last week? Then they said it was suppose to pass this week?

Hmmmmmmmmmmmmm................................

But what if it's passed this week and then President Bush's office (Tony Snow) all act supprised.
Henceforth being Oct. supprise

once the FIL is enacted, will it be in ' effect ' immediately for use? or is there a period until it takes actual affect?

Originally Posted by goldraker

Didn't they say it was going to pass last week? Then they said it was suppose to pass this week?

Hmmmmmmmmmmmmm................................

And yesterday Tony Snow said it would pass by the end of the year.
Link in post 16156.

Originally Posted by DayDream

Does anyone know how to convert troy ounces to ounces to figure out how much 661 POUNDS of gold is worth on todays market?

That would be 9,254 Troy ounces worth $5,406,186.80 at e-gold's posted exchange rate.