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

Originally Posted by OneShotOneKill

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 know someone in the service that bought the dinar when he was over there a couple of years ago, he knew of the revale then and told me he bought about 5mill of it for very cheap!!!Although he still believes that it will not reval for another 5 years.I told him he really needed to get on rolclub,because i thought it would really change his mind!!The only thing he does is ckecks the cbi site.He has told me to call him if anything happens!!Good graces i can't wait to call and say i told you so!!!!!!!!!

sarah!!!!GO DINAR GO!!!!!

Very Good posting for the last 22 hours. I did not have to move one post. I read them all and the r/v is imenent. Just a matter of anoucements of what they are putting in order of their own chose. Good night to you all.

Iraq violence 'linked to US vote'

US Vice-President Dick Cheney has said that insurgents in Iraq have increased their attacks in order to influence the upcoming US mid-term elections.
He blamed a recent rise in violence on al-Qaeda and others trying to "break the will of the American people".

"They're very sensitive to the fact that we've got an election scheduled," he said, claiming the militants monitor US public opinion via the internet.

In October US forces in Iraq suffered one of their worst monthly death tolls.

The BBC's James Westhead in Washington says the Iraq war is dominating the final week of campaigning in the mid-term elections in which Republicans fear they may lose control of one or both Houses of Congress.

Polls indicate sliding support for the Bush administration's Iraq policy and growing numbers of Americans wanting to see US troops returning home.

However, no withdrawal timetable has been set and the Pentagon has confirmed that the number of troops on the ground has increased to 150,000 - the highest this year, although that is partly due to units overlapping as they swap around.

Speaking in an interview with Fox News, Mr Cheney said that insurgents were using the internet to time their attacks, although he did not provide any evidence to that effect.

"There isn't anything that's on the internet that's not accessible to them. They're on it all the time. They're very sophisticated users of it," Mr Cheney said.

Propaganda unit

Pentagon spokesman Eric Ruff has echoed the vice-president, saying that the militants are trying to "increase opposition to the war and have an influence against the president".

There isn't anything that's on the internet that's not accessible to them. They're on it all the time. They're very sophisticated users of it
Dick Cheney
US vice-president

Their comments come amid one of the worst months of violence since the war began, which has claimed the lives of 101 US troops and many more Iraqis.

The upturn in violence also coincided with the Muslim holy month of Ramadan, which Mr Cheney said could have been a contributory factor.

Despite the violence, the BBC's Justin Webb in Washington says that the Bush administration does not believe the true picture of events in Iraq has been made public.

The White House is particularly concerned that insurgents are using the internet to disseminate their message and give the impression they are more powerful than the US, our correspondent says.

In response the US defence department has set up a new unit to better promote its message across 24-hour rolling news outlets, and particularly on the internet.

The Pentagon said the move would boost its ability to counter "inaccurate" news stories and exploit new media.

'Set the record straight'

Defence Secretary Donald Rumsfeld said earlier this year the US was losing the propaganda war to its enemies.

The newly-established unit will use "new media" channels to push its message and "set the record straight", the Pentagon's Mr Ruff said.

"We're looking at being quicker to respond to breaking news, being quicker to respond, frankly, to inaccurate statements," he said.

A Pentagon memo seen by the Associated Press news agency said the new unit would "develop messages" for the 24-hour news cycle and aim to "correct the record".

The unit would reportedly monitor media such as web logs and would also employ "surrogates", or top politicians or lobbyists who could be interviewed on TV and radio shows.

Mr Ruff said the move to set up the unit had not been prompted either by the eroding public support in the US for the Iraq war or the US mid-term elections next week.

Story from BBC NEWS:
BBC NEWS | Americas | Iraq violence 'linked to US vote'

Published: 2006/10/31 10:38:52 GMT

Originally Posted by RollsRoyce

I believe that all oil sales are in US$, or maybe Euros, rather than the IQD . . . anyone know for sure ?? . . .

I believe you are right - all the current oil contracts are not paid in dinar.

osok is correct about oil sales are in US dollars. The USA is worried that
the oil producing countries will go to euros : because the only thing the USA
has to do now is start the printing press up when it needs more money.
This is why i feel the r / v will be in US dollars ( under pressure from the
US government.

so what happend with the article VIII that was such a big deal for yesterday?

No one has been able to confirm it yet!It has been said on here that it has been done,just no announcement!!!

http://www.itp.net/business/news/de...22583&category=

Pressure mounts on exchange rates

UNCERTAIN: Analysts are closely studying the value of currencies in the Gulf.
Soaring oil revenues are putting pressure on the dollar-pegged exchange rates in the Gulf, since the green buck is expected to continue to decline, and most GCC trades are denominated in other currencies.

Around half of imports in the region are priced in euros, but gulf oil exports are traditionally traded in the US dollar.

According to the Dubai Chamber of Commerce, the Saudi riyal is undervalued by as much as 33% relative to the dollar. The UAE suffers the least from all GCC currencies, with the dirham being undervalued by 12%.

Stephane Garelli, Professor at the Institute for Management Development (IMD) at the University of Lausanne, said at the business leaders in Abu Dhabi summit last week, “The dollar will continue to depreciate, and this will cause problems for countries like the UAE.”

“The dollar, which had a 0.9 exchange rate against the euro in 2002, and now 1.27 in 2006, will continue to fall, and this poses a serious problem for countries or corporations that manufacture or import in euros and sell in dollars,” Garelli said.

All GCC countries are pegged to the dollar, and when they form a monetary union in 2010 they are planning to keep the peg.

“Pegging the exchange rate to the dollar has one effect, but the consequent interest rate peg has a different impact,” said Andre Sayegh, CEO, First Gulf Bank.

Sayegh said targeting inflation could also be carried out through other means such as fiscal as well as monetary measures.

Since a week dollar tends to increase inflation due to the trading in goods of different currencies analysts say a revaluation would be necessary - besides international authorities calling for greater exchange rate flexibility in order to reduce global imbalances.

Revaluation however can only happen when all GCC member states coordinate among each other. Also, many goods within the gulf are traded in dollar and would then be pricier.

“Most Saudi assets are in dollars and if they revaluate they will take a loss on that. It’s not something they will do lightly," said Richard Fox, credit analyst at Fitch Ratings in London.

Last week the riyal was foreseen to be revalued over the Eid holiday, but analysts say that politics as well as economics made such as move unlikely.

The Saudi riyal was traded at a record peak up to 3.7420 per dollar- its highest since last May when investors first believed that Saudi Arabia would revalue its currency along with the Kuwaiti dinar, a more flexible currency than the Saudi riyal, that was then allowed to appreciate against the dollar.

All Gulf markets were closed for the Eid Al Fitr holidays for most of last week – with all dealings in currencies being offshore and traders said thin liquidity was exaggerating moves.

The move was just 0.16% but is significant for the riyal, which is closely pegged to the dollar at 3.75. Economists now say that, if it firms beyond 3.75 without a response form the central bank, speculation about a revaluation may heat up.

“The riyal moves are being caused by the rumours of revaluation. There was a liquidity squeeze in the market that made the riyal spot move well under 3.75,” said Koceila Maames, Middle East and North Africa economist at Calyon Paris. “From an economic point it does not really make sense, but you can’t rule it out as political gesture – as a gift to the population for Eid.”

“Some dealers are heard touting a move up to 15%," he added.

According to the annual report of the International Monetary Fund (IMF), in its first assessment of the Saudi economy following its World Trade Organisation (WTO) membership last year, the Saudi riyal appreciated by 3.4% in real effective terms during the 12-month period through March 2006, reflecting the movement of the US dollar against other major currencies.

United Press International - The Washington Times, America's Newspaper




Engineering firm ends Iraq building effort

Nov. 1, 2006 at 11:31PM

Bechtel Corp., a U.S. engineering firm that has spent the past three years working on rebuilding war-torn Iraq, is going home.
The San Francisco company's last government contract to rebuild power, water and sewage plants across Iraq expired Tuesday, the San Francisco Chronicle reported.
Over the past three years, 52 Bechtel employees were killed, 49 were injured and much of the company's work was sabotaged as Iraq dissolved into insurgency and sectarian violence.
The newspaper said Bechtel's contracts were part of an enormous U.S. rebuilding campaign that was supposed to "win the hearts of skeptical Iraqis" by giving them clean water, dependable power and modern sanitation.
The newspaper said Bechtel "found it tough to keep its engineers and workers alive, much less make progress in piecing Iraq back together."

Originally Posted by Justpraying

United Press International*-*The Washington Times, America's Newspaper




Engineering firm ends Iraq building effort

Nov. 1, 2006 at 11:31PM

Bechtel Corp., a U.S. engineering firm that has spent the past three years working on rebuilding war-torn Iraq, is going home.
The San Francisco company's last government contract to rebuild power, water and sewage plants across Iraq expired Tuesday, the San Francisco Chronicle reported.
Over the past three years, 52 Bechtel employees were killed, 49 were injured and much of the company's work was sabotaged as Iraq dissolved into insurgency and sectarian violence.
The newspaper said Bechtel's contracts were part of an enormous U.S. rebuilding campaign that was supposed to "win the hearts of skeptical Iraqis" by giving them clean water, dependable power and modern sanitation.
The newspaper said Bechtel "found it tough to keep its engineers and workers alive, much less make progress in piecing Iraq back together."

This is just sooooo sad, sick and twisted!!!!!!!!!!!!!!

Animals..............................