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

Originally Posted by Pegasus

Yes, I am in complete agreement with this. But, until they can rebuild the infrastructure, I would expect the rate to remain lower. After that....look out!

My thought is that the infrastructure will be rebuilt muck quicker by attracting international business into Iraq via the FIL (enacted) and the HCL (very soon). Remember though, how do you solve the problem of 70% hyperinflation with such a huge portion of the populace that is unemployed/underemployed, and a currency that is worth shiite? Now, I will give you an example. I live in Southern California. On a daily basis, untold multitudes of illegal Mexican Nationals cross our borders to work illegally, risking imprisonment, deportation and often times death by those who profit from human trafficking, so they can be paid in dollars, not pesos! Mexico is a relatively oil-rich country but has a corrupt government and a huge disparity between the rich and the poor. If all currency is just relative in purchasing power, then why are so many undocumented workers coming to America to be paid in dollars? Likewise, the IQD is even more worthless than the peso. How will Iraq import the goods they need to get back on their feet when it costs 14 million dinar to buy a decent automobile? And even then their own people can't afford to fill their tanks without subsidies? How long can this realistically continue? Will tons of iraqi workers cross the border to Jordan to work? Not likely with the occupying forces. That's why they must r/v at a rate at least comparable to neighboring middle east countries. This really cannot go on. And that's my 2 dinars worth

[QUOTE=shotgunsusie;126554]
[i bought ten for posterity.

Upon reading this post, I was moved to look up the definition of posterity in the Webster dictionary ( Noah Webster 1828).

Posterity: Descendant; Children, children's children, &c. indefinitely.
The whole human race are the posterity of Adam.


SGS, you lookin to adopt???????

Just kidding, but I thought this was interesting!

Guys, great article about the FIL being enacted but I'm still not totally convinced until we see more articles and it in the official gazette. That will make it 110% official.

Originally Posted by shotgunsusie

its not in the 'official gazette' yet.

you would think the reporters would know the rules... and not do this to us
still sounds like good news tho :)

Originally Posted by whatever

My thought is that the infrastructure will be rebuilt muck quicker by attracting international business into Iraq via the FIL (enacted) and the HCL (very soon). Remember though, how do you solve the problem of 70% hyperinflation with such a huge portion of the populace that is unemployed/underemployed, and a currency that is worth shiite? Now, I will give you an example. I live in Southern California. On a daily basis, untold multitudes of illegal Mexican Nationals cross our borders to work illegally, risking imprisonment, deportation and often times death by those who profit from human trafficking, so they can be paid in dollars, not pesos! Mexico is a relatively oil-rich country but has a corrupt government and a huge disparity between the rich and the poor. If all currency is just relative in purchasing power, then why are so many undocumented workers coming to America to be paid in dollars? Likewise, the IQD is even more worthless than the peso. How will Iraq import the goods they need to get back on their feet when it costs 14 million dinar to buy a decent automobile? And even then their own people can't afford to fill their tanks without subsidies? How long can this realistically continue? Will tons of iraqi workers cross the border to Jordan to work? Not likely with the occupying forces. That's why they must r/v at a rate at least comparable to neighboring middle east countries. This really cannot go on. And that's my 2 dinars worth

The FIL is enacted, things seem to be hotting up. I feel hopeful that we may be pleasantly surprised within the next few weeks. Lets hope there are some clues when the banks open next week. Good luck everyone

Originally Posted by Dinar Duchess

The FIL is enacted, things seem to be hotting up. I feel hopeful that we may be pleasantly surprised within the next few weeks. Lets hope there are some clues when the banks open next week. Good luck everyone

As above. Please not read into this from one article, let's get other confirmations and or the official gazette to totally believe it.

Iraq hopes for oil project bids soon
Iraq, which now loses more than 10 percent of its crude oil output due to sabotage, hopes to announce a first round of bidding for oil projects soon after an oil and gas law is passed by the end of this year, Iraqi Oil Minister Hussein al-Shahristani said.

I've had a quick look round regarding the enactment of the FIL. Stewards enquiry, jury is still out. Let's not break out the bubbly just yet on it being enacted.

Originally Posted by Dinar Duchess

Is there a link for the official gazette does anyone know?

جردية الوقائع العراقية

Translated version of http://www.uruklink.net/iqlaw/

[QUOTE=mahi;126766]

Originally Posted by shotgunsusie

[i bought ten for posterity.

Upon reading this post, I was moved to look up the definition of posterity in the Webster dictionary ( Noah Webster 1828).

Posterity: Descendant; Children, children's children, &c. indefinitely.
The whole human race are the posterity of Adam.


SGS, you lookin to adopt???????

Just kidding, but I thought this was interesting!

i could have said for the halibut! lol

posterity definition - Dictionary - MSN Encarta
pos·ter·i·ty [ po stérrətee ]
noun

Definition:

1. people in future: all future generations

2. all descendants: all of somebody's descendants