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

Originally Posted by bigred52

concerning soldiers receiving dinars and not to spend it until the 15th.
i don't think US soldiers are allowed to accept foreign currency as
pay ( ? ) because techinally that would make them mercenaries.
yes --- no ? i am suspicious of that post on iif

That is true if given by the host nation. But that is not to say that the soldiers can't take some of there pay in the local currency. I had that option in Germany back in the 80's. There was a limit and you had to have an account on post. Just a thought.....

OSOK

[I Hope this hasn't already been posted] Eleven Iraqi banks agree to launch a specialized company to finance special
projects. November 01, 2006
> Eleven Iraqi banks, with direct support from Iraqi Central Bank and the
American Agency for Development, announced the establishment of the Iraqi
company for loans that provides financial liquidity for those wishing to
establish small projects. About this project, applied for the first time in
Iraq, the banking expert, Izz al-Din Muhammad Abid, said: this Company is
complementary to the Iraqi Company for Banking Guarantees which was established
a short while ago with a total capital of three and a half million dollars. It
aims at enhancing the obtainment of small, medium-sized and minor enterprises in
Iraq on loans from private banks, in addition to supporting the use of modern
practices of credit and international banking standards in granting loans to
small and medium-sized enterprises. All of this is to support the continuing
economic growth in Iraq, and especially the support and development of the
private sector. Giving small and medium-sized enterprises this importance stems
from the fact that they share the spirit of individual initiative; that is,
starting a project by an individual to improve his standard of living. It should
also be noted that these projects constitute a significant proportion of
economic activity for many countries in the world, whether they were developing
or developed; they also constitute a high proportion of enterprises that widely
contribute in developing the economies of these countries, especially the
developed ones. Such projects, generate self-employment and jobs and participate
in helping the important groups in the labor market, as well as having several
important advantages like: working with simple, low-cost and local materials
within a limited area, as well as working with primary skills and techniques; in
addition to the possibility of easily adapting to the new circumstances in the
market and the rapid response to its needs. Finally, they contribute in the
rehabilitation or changing infrastructures and equipment; such as inventing
agriculture and construction tools or producing essential services commodities
in times of crisis. In response to a question concerning the establishment of
this Company to study the conditions of projects in Iraq, and the possibility of
exposure to profit or loss, Izz al-Din, explained that in spite of facing small
and medium-sized enterprises for numerous problems and challenges, especially in
times of unstable security, but, and as much as it concerns the banking system,
the main problem facing them is cash funding for the establishment and support
of these projects. Thus, the foundation of the Iraqi Company for Banking
Guarantees, in the time being, forms the mainstay of such projects, in order to
assist them in obtaining loans from Iraqi private banks to participate in the
capital of the Company, in addition to helping those banks through the utilizing
the amount of the guarantee for the development of managing loans and their
risks. The Company is owned by (11) Iraqi banks supported by the Iraq Central
Bank due to its important part in deepening the role of the Iraqi market. The
guarantee amounts differ according to the type of risks associated with them;
they could reach 75% of the value of the original loan, which ranges from $ 5000
to $ 25000. The company's operations are based on developing institutions and
building the financial capacity of banks and the Company itself when marketing
and the applying the program of loans guarantee. The Company's activity will
cover all of Iraq by the network branches of the banks involved in such
comprehensive coverage. It will assist small and medium-sized enterprises to
enter the world of credit in all Iraqi provinces. The Company will provide loans
with a high level of quality for the productive, service, agricultural and
commercial projects throughout guaranteeing the banking loans offered by the
participating banks. Accordingly, we can say that the company achieved a step or
steps forward on the way of developing and modernizing the Iraqi banking
system.(Source)Al-Sharq Al-Awsat
>

Originally Posted by stockjedi

Very good point I agree. I wonder if anyone knows someone who made tons of cash when the Kuwait currency went briefly to $0.10? I'm wondering how they announced the RV when things got better back then. Since the Internet wasn't widespread like it is now, it must have been very difficult to obtain information.

it wasn't the same situation as Iraq. kuwait's currency fell invalue because of saddam's invasion, and the "naturally" gained its previous value over time. there wasn't a "new kuwaiti dinar" as far as i know of, so it is comparing apples and oranges, there was no "revalue" in terms of what people are expecting to happen in iraq

Originally Posted by panhead

Already stocked up Wild Turkey 101.....sobriety sucks!

I like the Wild Turkey single barrel and the Wild Turkey Rare Breed myself and sadly I'm currently out of both. I'm going to have to fix that.

Originally Posted by wciappetta

Two stood out immediately: Exchange Rate Parity for currencies of emerging makets like Iraq and SHHHHHHHHHHHHHHHHHHHHHHHHHh don't let the cat out of the bag.

Hey this is a GREAT FIND Comfirms what most of us have been thinking

Originally Posted by pipshurricane

BAGHDAD - Iraq hopes to be producing three million barrels of oil per day by the end of the year and a massive 4.5 million by 2010, oil minister Hussein al-Shahristani said on Wednesday.

The minister told reporters that Iraq had produced an average of 2.3 million bpd in October and had exported between 1.6 and 1.7 million daily despite insurgent attacks on pipelines “at least two to three times a week”.

More than three years after the fall of Saddam Hussein and the end of United Nations sanctions, Iraq is still struggling to develop its key oil sector amid sectarian war and a rebellion against the US-backed government.

But Iraq has 112 billion barrels of proven reserves -- the second highest level in the world -- and Shahristani painted an optimistic picture of rapid expansion and modernisation thanks to investment from foreign partners.

The minister said he had recently returned from a tour of Asian countries and had returned with an agreement from the China National Petroleum Corporation (CNPC) to take over the Al-Ahdab field in southern Iraq.

“A joint Iraqi-Chinese committee is to hold series of meetings, the first of which shall be on November 11 in Baghdad to start talks over how to develop the oil field,” Shahristani said.

CNPC first agreed to develop the field in 1997, but Iraq’s contracts have had to be reviewed since a US-led invasion swept away the former regime. Now, the firm hopes to produce 90,000 barrels per day there.

Shahristani also said that during his visit to Japan, the government promised to give a soft loan of 3.5 billion dollars to help Iraq build a refinery and a floating loading platform in the southern city of Basra.

Khaleej Times Online - Iraq aims for 3 million barrels of oil per day by end 2006

Greetings from the road!! My sweet husband and I were talking about this the other day and he asked a really good question:

What are they doing with all this oil they are pumping? The FIL and the HCL are not enacted, so where is all this oil going at 1470 dinars to the dollar?? 2.86 MILLION BARRELS A DAY??? Are they putting it in storage facilities? I know they have deals with their neighbors, Iran, Jordan and Turkey, to name a few...but that seems like a lot of oil to be giving away for pennies on the dollar, and pumping at higher and higher volumes won't be a truly great thing until AFTER the reval.

Any thoughts on this from the Brain Trust??

Our deadline of November 13 lurks ever nearer... I sure hope we get some good news before we have to put our stinky old uniforms back on!!!!

This awesome news for all of us. A good source of mine was told by another source that there will be 80,000 more troops to be deployed to iraq. They were all given dinar. They were also told not to spend or exchange the dinar untill Nov. 15, 2006, that it would be worth more then. It seems like the will be a value set, but it all comes back to the November 13 date when BOA is on board.

Instead of a white Christmas, it will be all green!!!!!!

Hope this is true!!!!!!

If anyone else has heard this please reply?



just a post I found from the IIF forum - 80,000? if this were true it would be leaked somewhere for us to find?

They have a 50 dinar bill on the CBI website now...

a post I found on the IIF forum, is this new news or old? or is it not accurate?

Originally Posted by ozizoz

With the FIL due (hopefully) on or around November 10 (a Friday) . . .does anyone else see the link with BofA selling Dinar to its customers as of November 13 . . .the FOLLOWING MONDAY??????

This is the same BofA that has told me on several different occasions that they would only deal with Iraqi Dinar after it had become publically and internationally traded!!!

It looks like a good weekend to watch

Time line of dates:
7 nov TUESDAY - ISX starts trading
8 nov WEDNESDAY - ?????
9 nov THURDSAY - ????
10 nov FRIDAY - iraq banks closed ( fil day?)
11 nov SATURDAY - iraq banks closed (fil day?)
12 nov SUNDAY - USA banks are closed
13 nov MONDAY - BOA starts handling Dinar???

SO WHAT DAY DO WE PICK FOR R/V???

Ya'll I want to share something with ya'll. I have been helping the Good Puppy Foundation here in our middle of no were part of the world. Dina the top dog takes in rescue dogs that are dumped on the side of the road. I right now have a rescue dog I found, but that is another story. But, I have been telling Dina about the Dinar and WHEN it comes about - We will build her the most AWESOME building and kennels!!! Well, she just called and said her WONDERFUL HUBBY picked up 125,000 dinar. I know it's not much as others have - but MY HEART JUST ABOUT JUMPED to think of all the dogs that we can help at the GOOD PUPPY. DEAR GOD PLEASE RV SOON AND OVER $1.48, WE HAVE MANY DOGS TO SAVE!! AMEN.

Thanks to the FAMILY here for listening to this grandma get mushy.

Originally Posted by mike brown

They have a 50 dinar bill on the CBI website now...

a post I found on the IIF forum, is this new news or old? or is it not accurate?

Yes it is accurate - I have two 50 dinars and they are smaller in size from the 25,000 - they are about the size of a dollar bill.