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

Originally Posted by Inscrutable

In the article which stated the auction closing for 10 days it also stated that the CBI is enforcing a rule where dealers and currency exchangers who purchase from the auction must report where the money is going, before they were buying under the table, at the end of the 10 days that will not be allowed, that is in addition to the other possible things the CBI is doing.
Banks are the biggest players in the auction but what we didn't know is that dealers and exchangers in country have also been purchasing "dinar" at the auction.

http://www.iraqdirectory.com/DisplayNewsAr.aspx?id=2384

the auctions will stop for a period of 10 days. considering the last auction posted on the site is the 22nd the first day of that ten is 23rd as there should have been an auction posted (albeit the same figure from sundays auction due to the weekend in nyc) so from that figure it would be 22-1. so the next auction to POST would be the 1st of november. that would seem to fit well with the meetings being 30,31, news coming out around the meetings about the miraculous recovery iraq is preparing to take because of the wonderful bills they just enacted and because they have attained article VIII status and have revalued their currency, in time for the first auction on nov. 1st.

and just in time for the good news to be FRESH in the minds of the voters.

Originally Posted by Inscrutable

Hi Z,


If the currency were to increase then the commodity would also increase, it's a natural monetary process.
If it worked the way you explained it would cause an immediate deflation of the economy which would require reflation. In other words, if the oil field were 3 million before a revalue then you can expect it to increase in proportion with the revaluation.

I "Agree to Disagree" here. Lets make the terms more simple. Lets say, corn cost $20 in a commodity Bushel. But you pay it in Dinar at the now current exchange rate....Well that would be roughly 30,000nid for that same Bushel. But tommorrow the Dinar r/ved to lets say 1:1.....Well then that same Bushel is still $20 but in nid's it is 20 also. No monetary process here.

Originally Posted by Inscrutable

Commodity and currency go hand in hand.
We are not holders of the oil commodity so the gas analogy does not apply.


Commodity money - Wikipedia, the free encyclopedia

land is a commodity that has been on the rise. Our dollar has not raise in value to keep up this our increase in land value has it?

Originally Posted by neno

This is not true. Not the fact that she told you this, but that they get their dinar from BOA. From the articles, JPMorgan was the only US authorized Banking member to exchange to the US. Not to mention that when they first started jsfletcher and I D&Ded this. I spoke to the JPMorgan main Office in New York. The gentleman told me now, that they come straight from CBI or out of Jordan. Just my take with what I been told and read thru the article on this forum. If it really matters at all.

Could be that most of the foreign currency they receive comes from BOA so this is what she assumed. She did say alot of people were buying it and when I asked if she had she said no but maybe she should. I just laughed.

23 October 2006 (Iraq Development Program)

Iraqi Deputy Prime Minister Barham Salih warned against defeatism and panic on Monday in a London meeting organised to discuss Iraq's future.

alih, in London for talks with Prime Minister Tony Blair and other ministers, made clear his anxiety about changes in tone in London and Washington, following recent statements from senior figures concerning the country.

"I'm obviously concerned about the debate both in the US and Europe, I have to say, because there is too much of a pessimistic tone to this debate - even I would say in certain circles a defeatist tone," he told BBC radio.

"We need to be realist but not defeatist. We need to understand that there is a need of utmost urgency to deal with many of the problems of Iraq but we must not give in to panic."

Salih said the current situation in Iraq could not go on. "Especially the last month has been exceptionally tough and difficult, but really failure is not an option...," he said.

British officials gave a similar message before their meetings with Salih. Foreign Secretary Margaret Beckett said: "We need to keep our nerve. We need to get Iraq back on its feet. We need to establish greater stability."

London meeting organised to discuss Iraq's future | Iraq Updates

Originally Posted by Hardwood

This is precisely why I love it here!

Susie, I feel like flying up to Anchorage, renting a Harley, Picking you up and take you for a ride! Hope it's still warm enough there (over 30 degrees that is.... )...

So where is the nearest Harley dealer?

spenard which is the middle of anchorage but over by the airport kinda. im not allowed on a bike anymore because of the head injury, as the attending neurologist said another bump up there and im history.

i have gotten permission (caregiver) to ride SLOW IN A PARADE type setting on a TRIKE so at least thats SOMETHIN! lol

Overhead costs have consumed more than half the budget of some reconstruction projects in Iraq, according to a government estimate released yesterday, leaving far less money than expected to provide the oil, water and electricity needed to improve the lives of Iraqis.

Noozz.com | IRAQ

Originally Posted by zwhatimsaying

land is a commodity that has been on the rise. Our dollar has not raise in value to keep up this our increase in land value has it?

Land is not really a commodity Z, not yet anyhow but it is slowly becoming one but that's for later.
When it does become a commodity to an investor the dollar will rise, the one in your pocket if you are the owner of the land.

Originally Posted by Inscrutable

In the article which stated the auction closing for 10 days it also stated that the CBI is enforcing a rule where dealers and currency exchangers who purchase from the auction must report where the money is going, before they were buying under the table, at the end of the 10 days that will not be allowed, that is in addition to the other possible things the CBI is doing.
Banks are the biggest players in the auction but what we didn't know is that dealers and exchangers in country have also been purchasing "dinar" at the auction.

http://www.iraqdirectory.com/DisplayNewsAr.aspx?id=2384

Hi all, i am reading the translation of this article a little differently. It seems to be talking more about an expected rise in teh exchange rate because of the CBI will not be involved in currency actuions and that they expect due to supply the rate will increase. It seems to talk more about them not really wanting people to be profiteering from the event but i don't see anything actually stating that people must report where the funds are going. I have pasted the translation. THe link keeps sending me to an arabic link and there is nothing in the english site about this artice. HEre it is, please show me where i am getting it wrong please :D

A sudden rise of the dollar exchange rate in Iraq
بسبب عطلة العيدBecause of holiday
المصدر : الشرق الأوسط - 24/10/2006Source : Middle East-24 / 10 / 2006



تباينت اسعار صرف الدولار الاميركي بين البنك المركزي العراقي والاسواق المحلية خاصة بعد ان توقف المزاد الرسمي لبيع العملات عن الانعقاد ولمدة عشرة ايام بسبب عيد الفطر.Varied in the dollar exchange rate between the American Central Bank of Iraq and domestic markets, especially after the official stopped the auction to sell currencies to convene for a period of ten days because of Eid al-Fitr.
واكد المراقبون لسوق العملات ان أي مناسبة يتخللها عطل رسمية وخاصة المستمرة لعدة ايام من شأنها ان ترفع قيمة الدولار الاميركي مقابل الدينار العراقي لكن بفارق محدود لا يتجاوز في اشد الحالات 1500 دينار للدولار وذلك لأن مثل هذه الزيادات حسب رأي بعض المضاربين ستكون مؤقته، وهم يتخوفون من البنك المركزي العراقي الذي وقف كصمام امان للدينار العراقي والسوق.The observers of the currency market that any appropriate punctuated by public holidays and special continuing for several days is expected to raise the value of the American dollar against the Iraqi dinar but the difference is limited only in the most serious cases of 1500 dinars to the dollar, because such increases in the view of some speculators will be temporary, They fear from the Iraqi Central Bank by stopping safety valve of the Iraqi dinar and the market. ولو رأى البنك ان السوق ارتفع وكما حدث هذا فعلا قبل عام ونصف العام فسيقطع عطلته ليبدأ بطرح كميات كبيرة من العملة الصعبة للسوق وبشكل مباشر وباسعار اقل بكثير من سعر التداول ولهذا نرى اكثر المضاربين متخوفين من الاحتفاظ بكميات كبيرة داخل حقائبهم مخافة تعرضهم للخسارة.Even the view that the bank market rose as the case already before this year and a half it would go a vacation to begin offering large amounts of hard currency on the market and directly and at prices lower than the price of this transaction and believe more speculators nervous about keeping large quantities within their bags due to the risk of loss. لكن يتم التعامل في السوق على اساس العرض والطلب وهذا يعني ان المضاربين الصغار أي المتعاملين مع المواطن سيحقق ارباحا عالية جدا لهذا السبب أي العرض والطلب.But dealing in the market on the basis of supply and demand, this means that speculators small dealers with any citizen would have very high profits for this reason any of supply and demand. وعن توقعاتهم لأسعار السوق بين المراقب أن أسعار الدولار في المزاد المركزي المقام في البنك المركزي العراقي بدأ أخيرا بالتراجع أمام الدينار العراقي لان البنك بدأ يطرح كميات ضخمة من الدولار بسبب احتياج الحكومة للنقد المحلي خاصة أن حجم الاستهلاك الحكومي زاد أخيرا وهذا يتطلب تأمين تلك الصرفيا ت عن طريق المزاد.And the expectations of market prices between the observer that the dollar exchange rate in the auction, the central place in the Central Bank of Iraq finally began to retreat before the Iraqi dinar, as the bank began raises huge amounts of dollars because of the need of local government to criticism, especially as the volume of government consumption increased recently and this requires secure Sarvia T. through the auction. وقد ارتفع العرض أخيرا من 35 مليون دولار الى 60 مليونا في اليوم الواحد.Finally, the supply has increased from $ 35 million to $ 60 million per day.

وبدأ البنك مزاده اليومي بـ1470 دينارا للدولار بعد أن كان سعر الدولار 1477.The Bank has begun daily canteen in his possession at 1470 dinars to the dollar after the dollar in 1477. أما داخل الاسواق فنرى أن المتعاملين مع المواطن لا يتأثرون بالانخفاض المفاجئ فيما يسارعون الى رفع اسعارهم مع الزيادة وبنفس اللحظة وعليه يتوقع ان يرتفع الطلب خلال هذه العشرة ايام والتي سيغيب عنها البنك المركزي العراقي ولكن بنسب غير قوية.As in the markets believe that dealing with citizen not affected sudden decline in rushing to raise prices with the increase and the same moment, and it is expected to increase demand during these ten days, which would not be attended by the Central Bank of Iraq, but is disproportionately strong. وعن آخر جلسة رسمية للبنك، بين مدير المزاد في البنك ان السعر الذي رسا عليه المزاد بيعا كان 1470 دينارا للدولار، وقبل البنك بسعر المزاد بحسب رغبة المشترين وقام ببيع 43.8 مليون دولار وبنفس الاسعار وكانت الكمية المباعة نقدا الى المصارف وزبائنه 18.690 مليون دولار وبسعر 1470 يضاف لها 11 نقطة كفارق اسعار ونسب ربحية.And the last formal meeting of the bank, among the auction manager in the bank that the rate at which the yacht by the auction sale was 1470 dinars to the dollar, Before the bank at the auction, according to the desire of buyers and the sale of 43.8 million at the same prices and the quantity sold in cash to banks and clients to 18.690 million in 1470 and the rate of addition to a difference of 11 points prices and profitability ratios. أما الكمية المباعة لاجراء الحوالات الى خارج العراق فكانت 25 مليون دولار وبسعر 1470 دينارا.The quantity sold for money out of Iraq was $ 25 million, at 1470 dinars. وهذا يعني ان مبالغ الحوالات ارتفعت عن كميات البيع للمصارف وهذا يعود الى زيادة الطلب على التحويل خاصة بعد ازدياد الحاجة على تبرئة ذمة الشركات المتعاملة مع الخارج وبدء مرحلة الاعمار في العراق.This means that the amounts of money went on sale quantities of banks and this is due to the increased demand for conversion, especially after the increased need to acquit the companies collaborating with the outside world and the start of the reconstruction phase in Iraq.

Originally Posted by Vipor

Watching Hannity & Colmes... Jack Kemp was being interviewed and said victory in Iraq had to be economic and that he is for marshal aid plan to strenghten the Iraqi people. Sounds positive to me.

Was this aired tonight? Be interesting to see the transcript.