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

Originally Posted by benzboy

heres a thought if they dont reval it high enough I think I am going to go and buy one of there oil fields for a few hundred bucks LOL they have to do it!!
benzboy

Don't we just wanna do that?! Imagine telling the one you hate the most that you own an oil field!

However, I don't buy this theory of buying out the country or its assets for pennies theory if it doesn't reval high enough to ward off the big boys. Iraq will not compromise on its sovereignity at any cost. The laws are or will be in place to limit foreign ownership. I know people keep going on about buying the country up for pennies but it's not an option given the laws. I do not profess to be clued up like the more knowledgeable folk on here but feel that even if it revals on the lower end i.e., btw 0.01 to 0.30 cents, there is no way the country will be in danger of being bought out.

Originally Posted by benzboy

heres a thought if they dont reval it high enough I think I am going to go and buy one of there oil fields for a few hundred bucks LOL they have to do it!!
benzboy

the thing the people who predict such small numbers fail to take into consideration is that they would be, as someone said earlier, cutting off their noses to spite their face.

good god they had research teams in checkin on the oil supply and rumors from that indicate it will blow everyones socks off, much more than saudi EVER had. and when the army drilled for water they hit oil 99 times out of 100 many of which being TEN FOOT DOWN or more. what do you suppose the cost of retrieving oil from ten foot below the surface would run?? LMDAO!!!

as long as the world relies on oil and gas as its main source of energy this investment is golden. they have the capacity to support a peg high enough to equal pre-war levels theyve suggested. of course a smart businessman would never come out on maximum bid with no room to move. that dinar will be pre-war levels before you know it although i dont think it will open that high so as to lure big investment dollars.

Originally Posted by postcon

Don't we just wanna do that?! Imagine telling the one you hate the most that you own an oil field!

However, I don't buy this theory of buying out the country or its assets for pennies theory if it doesn't reval high enough to ward off the big boys. Iraq will not compromise on its sovereignity at any cost. The laws are or will be in place to limit foreign ownership. I know people keep going on about buying the country up for pennies but it's not an option given the laws. I do not profess to be clued up like the more knowledgeable folk on here but feel that even if it revals on the lower end i.e., btw 0.01 to 0.30 cents, there is no way the country will be in danger of being bought out.

good contribution....no the actual land can't be bought up for pennies, but if you had millions of dollars and bought a currency that had a hard peg of .30...and had a year to watch to see if their currecy would go up or down with no consequences (as a hard peg would protect your investment) would you not buy in at .30. I know I would...but I'm just some smuck

Originally Posted by benzboy

from what I heard tonight on the Freedinar CCall all the banks are closed until the first, my guess is that they are handing out checks now until the the 1st then they will be negotialblle hopefully with the reval in place
benzboy

oh ill go for this thought, lol.

Iraq must address issues of security, political reconciliation --

POL-U.S.-SATTERFIELD-IRAQ
Iraq must address issues of security, political reconciliation --

Satterfield WASHINGTON, Oct. 26 (KUNA) -- The Iraqi government of Prime Minister Nouri al-Maliki must confront and make critical decisions on security and political reconciliation, David Satterfield, senior adviser to Secretary of State Condoleezza Rice and coordinator for Iraq, said on Thursday.

While voicing strong support for Maliki and his national unity government, Satterfield, in a Foreign Press Center appearance, said the United States expects Maliki to lead.

"We understand fully the very difficult circumstances" in Iraq today, and how difficult the decisions are which the Iraqi government must make on security and political reconciliation, Satterfield said.

"But these are critical decisions, and they must, in fact, be confronted, they must be decided," he said.

While these decisions are for the sovereign Iraqi government to make, they "cannot be deferred without cost to the Iraqi people and the interests of a stable, peaceful, democratic Iraq," Satterfield warned.

The role of the United States is to support Iraqi government security forces "to ensure that they have all of the tools that we can help provide for them to lead their country forward," he said. "But the decisions on the future of Iraq, on the political process, on security, must be taken ultimately by Iraqis themselves. We do look to Prime Minister Maliki to take these decisions. We do have confidence in his leadership." Asked about the Makkah Declaration between Sunni and Shia in Iraq, Satterfield said that the gathering in Makkah under the Organization of Islamic Conference sponsorship "was an extremely important step, and we are very appreciative both to Saudi government officials and to the Organization of the Islamic Conference leadership for helping make this possible." It is important that as many messages of reconciliation as possible be sent to the Iraqi people to make it clear "that there is no legitimate violence against innocent Iraqis, that there is no excuse or justification for the killing of innocents, no matter from what source," he said.

The declaration was part of a process, on the political and religious side, of addressing the questions of how to get to a peaceful Iraq, how to end sectarian violence and end the presence of militias and armed gangs that are responsible for so much of the violence in Iraq, he said.

Asked about the increased talk recently among U.S. officials about timelines and benchmarks for Iraqis to achieve results, Satterfield said that progress needs to be made in Iraq on the security, political and economic tracks "together and as rapidly as possible." There needs to be a sense in Iraqi minds and "in the minds of all those engaged in Iraq that this is what needs to be done, these are the goals, and they need to be done as urgently as possible," he said. However, there is no imposed timeline for these matters to be resolved, he added. (end) rm.

ajs


KUNA 270015 Oct 06NNNN

Kuna site|Story page|Iraq must address issues of security, political re...10/27/2006

JUST NEWS ON THE GCC

Governor of Central Bank to take part in GCC monetary agencies meeting

ECO-KUWAIT-UAE-CONFERENCE
Governor of Central Bank to take part in GCC monetary agencies meeting

KUWAIT, Oct 27 (KUNA) -- Governor of the Central Bank of Kuwait (CBK) Sheikh Salem Abdulaziz Al-Sabah is due to fly to the United Arab Emirates to take part in the annual meetings of the monetary agencies and Central Banks of the Gulf Cooperation Council (GCC) states, slated next Monday.The CBK said in a press statement released today, discussions during this annual meeting will focus on the infrastructure required for forming the monetary union, launch of the unified GCC currency and the corresponding legislations in particular what concerns the Gulf Central Bank.

(end)
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Gunter optimistic about situation in Iraq despite media coverage
By Dana Ryan
News Writer
10/26/2006


The situation in Iraq is optimistic, said associate professor Frank R. Gunter, at his “Iraq: Oil, Corruption, and Democracy” lecture Tuesday afternoon.

Gunter is an associate professor in the economics department and has been at Lehigh for the past 22 years. Immediately following Sept. 11, he was called to the Marine Corps and spent the last two years as the chief economist for military structure in Baghdad, spending the last 13 months in Iraq.

Gunter discussed several issues regarding the political-economic situation in Iraq including successes and failures, current good news and bad news, and its anti-corruption efforts.

“Most of what you hear in the media is accurate, but you’re only getting the bad news,” he said.

The economy, in particular, is a failure most often presented by the media, Gunter said. While 1950 to 1979 experienced a steady increase in the standard of living and income, there was a two-thirds drop per capita after 1979. This was a result of a sharp decrease in oil prices, mismanagement within the government as Saddam elected people on the basis of political reliability and the overall cost of war.

Yet, it is important to note that 2006 saw an increase to the $1,500 to $1,600 point, Gunter said.

Gunter said Iraq needs a better financial situation in order to move forward and the main concern of Iraq is maintaining economic control. Gunter said a positive control that Iraq takes is that it is very restrictive on rules of starting a business, dealing with licenses, exporting and enforcing contracts.

One piece of good news, Gunter said, is that Iraq is currently the fastest-growing country. Although this is a statistic that follows a year of war, he said, there has still been a legitimate drop in the unemployment rate.

The issue of corruption, on the other hand, is bad news for the political-economic situation in Iraq, according to Gunter. While Saddam was in power, he says, he kept gas prices low and there was a large amount of fuel smuggling. Gunter explained how Iraq buys fuel at world prices but sells it in Iraq at their own prices, and then the people living in Iraq sell it again at world prices.

Despite anti-corruption efforts made by the World Bank and the United States, these types of movements rarely prove successful, Gunter said. He cited the need for public support, media and better incentives to reduce corruption as the critical ingredients for an effective anti-corruption movement.

A major source of corruption in Iraq stems from statism, in which economic decisions are made by mismanaged ministries, Gunter said. This economic system makes it difficult to restore a robust economy and provides no political or economic freedom.

Oil, for example, “is a blessing and a curse to Iraq," according to Gunter. While oil accounts for 67 percent of the country’s GDP, it provides only 2 percent of employment. Huge funds are coming in to pay the ministries without forcing the government to go to the taxpayer. In other words, government has complete control to use revenue to pay government employees; hence oil is a curse to Iraq, Gunter concluded.

As of late, the ministries have been preoccupied with the efforts of rebuilding the government, Gunter said. Unable to do too much damage to others, the informal economy in Iraq is booming, providing 50 percent of jobs.

Gunter concluded the lecture on a bright note. Citing the quality, experience and patience of those with which he worked and Iraqi courage (to risk staying and building a life), he believes the future of Iraq is bright.

Gunter optimistic about situation in Iraq despite media coverage - The Brown and White

This article I found dated 7/27/06 goes to show you that there has probably been a lot of deals already signed behind closed doors. I believe there is so much we are going to be awe of when this opens.

Iraq may sign oil deals before oil law enacted
Posted: Thursday, July 27, 2006

Washington

Iraq could sign joint ventures with international oil companies even before the nation's parliament enacts a long-awaited hydrocarbon law, Iraq's oil minister said.
Iraq's oil minister, Hussain Al Shahristani, met with representatives from international oil companies, including Exxon Mobil Corporation, BP Plc, Shell Oil Company and Chevron Corporation, according to a list provided by the US Energy Department.

The meetings at the department's headquarters were also attended by US Energy Secretary Sam Bodman.

Shahristani said some terms could be signed before Iraq's parliament enacts its hydrocarbon law, which is expected by year-end. That law would allow billions of dollars worth of crucial foreign investment to flow into the Iraqi oil sector.

"We hope to start some discussions with some (companies) who have indicated their willingness to enter into discussions and even reach agreements before the hydrocarbon law is enacted by the parliament," he said.

Other companies represented included ConocoPhillips, Marathon Oil Company, Occidental Petroleum Corporation, Amerada Hess Corporation and Anadarko Petroleum Corporation, the Energy Department said.

Initial talks centered on technical agreements ion which oil companies would offer technical and personnel assistance to Iraq oil companies, Shahristani said.

"We're not negotiating with any company for any of the specific fields yet," Shahristani said at a news conference with Bodman.

Fields of interest were not just the super-giant ones in the southern region, but those distributed all across the country, he said.

"We'd like to see all regions of Iraq simultaneously developed. We want to avoid (deposed Iraqi dictator Saddam Hussein's) mistakes of concentrating on certain regions at the expense of other regions."

Shahristani reiterated that he wants Iraq's oil production to rise from about 2.5 million barrels per day currently to 3 million bpd by year-end, and to 4.5 million bpd in the next three or four years.-Reuters

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

James Baker, listen to Iraqis 10/25/2006 KurdishMedia.com - By Baqi Barzani After reviewing the recommendations of the study group headed by former U.S. secretary of state James Baker, the White House proclaimed its opposition to partitioning Iraq. Unfortunately, the Bush administration overlooked the wishes of the majority of Iraq's people.

The U.S. made a decision on behalf of 25 million people without consulting them. Both the Kurds and Shiite who constitute the greater part of the county (85 percent) are in favor of dividing Iraq. The people of Iraq should be the ones to decide whether, when, how and where partition lines should be drawn. Many of the worst cases of modern, organized violence -- Rwanda, Serbia, Chechnya, etc. -- all had their roots in situations where different ethnic populations were forced to live together within a single state.

About 655,000 people have died in Iraq as a result of the U.S.-led coalition invasion. More than 1.5 million people are displaced. At least 50,000 Iraqis are leaving their homes monthly due to the increase in sectarian violence and the deteriorating security situation. The war has brought Iraqi people nothing but more misery, homelessness and terrorism.
And most disappointingly, statistics indicate that the situation is worsening rapidly. Should the Iraqi people continue to depend on the liberating forces or do they reserve the right to determine their political destiny? One of the greatest lapses of the U.S. government has been that it has not trained Iraq's people to stand on their own feet and march toward self-reliance and self-government.

President Bush indicated that interference by neighboring countries would complicate any partition of Iraq. Adjacent states already strike the foundations of newly democratic Iraq, meddling in its internal affairs and fueling the insurgency. Countries such as Iran, Turkey and Syria restrict their own citizens' democratic rights. They restrict religious freedom, manipulate the electoral system and repress political dissidents. These are countries throttling the voices of their own citizens. How can assistance be sought from such countries in stabilizing the shattered Iraq?

Iraq must be partitioned. The U.S. can advance its ultimate goal of spreading democracy in the Middle East by doing so. In a partitioned Iraq, ethnic and religious minority groups can take a breath and protect their own rights. With autonomy and some ability to determine local education, culture, and economic development, ethnic minorities will grow increasingly secure. They will be more willing to accept the authority and legitimacy of the larger national state.

A definitive answer to the future of the ethnically mixed city of Kirkuk has been and is a major challenge. Geographically and historically dominated by Kurds, Kirkuk was, is and will remain the political capital of any Kurdish federal state. Kirkuk underwent a process of Arabization in the mid-1930s when the discovery of oil in the city generated a flow of Arabs and Turkmen into it. The process of Arabization, namely the settling of Iraqi Arabs in the city to change its demographic structure, continued throughout the reign of the Hashemite monarchy, but was greatly accelerated under the Baathist regime of Saddam Hussein with the introduction of new and extreme measures to destroy Kurdish villages and to force deportation of their people to other parts of Iraq under the "Anfal" operation in the 1990s.

The only solution is to reverse the Arabization policy and resettle Arabs in their provinces of origin, primarily in southern Iraq. This would eventually restore the Kurds to their historical demographic weight. According to Article 140 in the permanent Iraqi constitution, the situation in the city must be contained by the end of 2007, and Kirkuk will ultimately be annexed back into Kurdistan's autonomous region.

Most significantly, the creation of an independent Kurdistan state will serve strategic U.S. national interests in the region. By sustaining the rights of the oppressed and deprived Kurdish people, not only will the U.S. be able to establish a safe haven for its troops but it will also befriend 40-million pro-Western, amiable, democratic people.

Baqi Barzani was born in 1976 in Barzan- Kurdistan. His relatives and close family members were killed when Saddam Hussein attacked a Kurdish Village named Barzan. Barzani fled to Pakistan in 1990 where he worked for United Nation High Commissioner for Refugees. He is now applying for U.S. citizenship and plans to work as a linguist/cultural advisor for the U.S. government. He contributes regularly to Kurdish press and media. He is the editor-in-chief of a Kurdish-English online newspaper.

James Baker, listen to Iraqis

Iraq: Wednesday, October 25 - 2006 at 07:40
Iraq plans to open bidding for oil projects after an oil and gas law is passed towards the end of 2006, according Oil Minister Hussain Al Shahristani in an interview with Reuters. Iraq is currently losing around 400,000 bpd of oil through sabotage of infrastructure, but says it wants to raise output to 3.5m bpd by the end of 2006 from the current 3m bpd, and to 4m bpd by 2010.

Iraq to open oil bids soon | Energy, Oil and Gas