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

Originally Posted by Inscrutable

Sorry to those who have impatiently waited for the details. I think for now on when I post I will be sure to take the day off and stay attached to my computer so I can answer the question as soon as you ask.

Well you asked so I'll tell. Remember I did suggest you call yourself and ask the questions.
Those with a weak stomach should avoid reading.

I called IMF awhile back seeking information on Article VIII and what Iraq would need to do to be in compliance. What I was told is that Iraq is in a transitional phase from war and cannot at present accept the obligations of A. VIII I then went further and asked if this was due to a secondary currency, meaning is it because the US dollar and the dinar were both in use as this is a restriction IMF imposes. Again the transitional phase came about only this time it was stated that the present dinar is a transitional instrument for inflationary purposes.

Someone also brought up that the R card distribution could be to initiate a currency swap. I don't buy it though because not everyone gets the card as I'm sure many Iraqis are well off with dinar.
I never posted this because I didn't want to be the bearer of horrible news or IMF scare tactics.


Anyway, I still think we're a go within the next 2 weeks.

Thanks for sharing. And no you have no need to stay glued to your computor. Not all news can be good news, so I guess we will just have to wait and see. Again thxs.

Originally Posted by Inscrutable

Sorry to those who have impatiently waited for the details. I think for now on when I post I will be sure to take the day off and stay attached to my computer so I can answer the question as soon as you ask.

Well you asked so I'll tell. Remember I did suggest you call yourself and ask the questions.
Those with a weak stomach should avoid reading.

I called IMF awhile back seeking information on Article VIII and what Iraq would need to do to be in compliance. What I was told is that Iraq is in a transitional phase from war and cannot at present accept the obligations of A. VIII I then went further and asked if this was due to a secondary currency, meaning is it because the US dollar and the dinar were both in use as this is a restriction IMF imposes. Again the transitional phase came about only this time it was stated that the present dinar is a transitional instrument for inflationary purposes.

Someone also brought up that the R card distribution could be to initiate a currency swap. I don't buy it though because not everyone gets the card as I'm sure many Iraqis are well off with dinar.
I never posted this because I didn't want to be the bearer of horrible news or IMF scare tactics.


Anyway, I still think we're a go within the next 2 weeks.

Thanks for bringing us this news. We do need to be kept up to date with good and bad news. Not sure what to make of it at the moment, maybe we could have some of our more knowledgeable posters give us their opinion.

[QUOTE=Inscrutable

Anyway, I still think we're a go within the next 2 weeks.[/QUOTE]

How could this be, with the previously stated news?? Please explain before I stress eat a whole bag of cookies!!

Shahrastani :the establishment of a third port in Basra and slight increases on oil derivatives

Baghdad / Karim Sudanese The Minister of Oil, Dr..Hussein Shahrastani Japan is ready to provide soft loans and refinanced long for the development of the oil installations in Iraq.
Shahrastani said during a press conference yesterday that Japan has decided to extend a loan to the amount of 3.5 billion dollars, of which one billion dollars to develop the Basra refinery to produce gasoline and the establishment of a floating third port for export and the development of other oil facilities. He added that a number of major Japanese and Chinese companies expressed willingness to work in Iraq and the development of oil installations and to facilitate the marketing of Iraqi oil for the coming years.
The Minister stressed that China wished to increase Asteradatha of Iraqi oil has sensed during his recent visit to China, saying that the offers will be submitted to the Cabinet and Parliament for approval so they can later to announce Kmanagassat and global arguments.
Shahrastani said that the Oil Ministry is currently building a third pipeline to export to reach 3.5 million barrels to arrive later in 2010. to export six million barrels of oil annually, thus, becomes Iraq at the forefront of Petroleum Exporting Countries crude.
And the minister said the ministry's plan : We aim to reach production of three million barrels per day by the end of this year, including 2.25 million barrels of oil from the southern fields and 750 thousand barrels of oil from fields Chammalihokad been the goal for our farms southern refineries The North is not able to liquidate the produced quantities of crude oil and feed lines of export to Turkey.
He said : The ministry continues to provide oil derivatives have been received large quantities of kerosene than needed during the current winter and will be distributed shortly and announced that coupons kerosene and gas possession of a valid until the month of November of this year, and could benefit from them.
The Minister of Oil, the press conference by saying that the meetings will be held with the International Monetary Fund and believe that minor modifications will take place on the prices of oil derivatives based on Iraq's obligations towards the Fund.

AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì

Cheers!
DayDream

Originally Posted by MOM2TWO

How could this be, with the previously stated news?? Please explain before I stress eat a whole bag of cookies!!

DONT EAT THE COOKIES. Sit tight, there will now be lots of discussions on this.

Originally Posted by Dinar Duchess

Thanks for bringing us this news. We do need to be kept up to date with good and bad news. Not sure what to make of it at the moment, maybe we could have some of our more knowledgeable posters give us their opinion.

I'm not among the more knowlegeable posters.. but I personally think the post Adster made quoting from Payne explains alot... they have been giving out misinformation deliberately...

"The GOI's Ministry of finance has given misinformation in statements about lopping zeros, reprinting the currency and exchanging the dinars 1500 to 1. The GOI is now bound by the Compact and have no choice but to keep the currency they have. The Media has also done a excellent job of bringing the absolute worst case stories of Iraq to our televison sets about how bad it is over there and then behind the scenes we have 22 countries that are signing the International compact for the reason of stablizing the Middle East."

Originally Posted by Inscrutable

Sorry to those who have impatiently waited for the details. I think for now on when I post I will be sure to take the day off and stay attached to my computer so I can answer the question as soon as you ask.

Well you asked so I'll tell. Remember I did suggest you call yourself and ask the questions.
Those with a weak stomach should avoid reading.

I called IMF awhile back seeking information on Article VIII and what Iraq would need to do to be in compliance. What I was told is that Iraq is in a transitional phase from war and cannot at present accept the obligations of A. VIII I then went further and asked if this was due to a secondary currency, meaning is it because the US dollar and the dinar were both in use as this is a restriction IMF imposes. Again the transitional phase came about only this time it was stated that the present dinar is a transitional instrument for inflationary purposes.

Someone also brought up that the R card distribution could be to initiate a currency swap. I don't buy it though because not everyone gets the card as I'm sure many Iraqis are well off with dinar.
I never posted this because I didn't want to be the bearer of horrible news or IMF scare tactics.


Anyway, I still think we're a go within the next 2 weeks.

I agree with you - I think we're still a "go". I don't buy the "Reprint", based on simplicity in explanation. Look at the new Dinars. If the new Dinars were meant to be "transitional", as you were told, then why have all those security features in it? Color changing ink, watermarks, UV marks, security strips. No one goes through that much trouble to create a transitional currency... If money is the "bottom line" on everything, why spend the money on an advanced, and rather secure, currency? Instead, I think they'd go the route of something similar to Monopoly money with maybe ONE or TWO security features, to curb counterfeiters. It makes no sense, and is certainly not cost-effective. I just don't buy it. Something doesn't add up. I guess, technically, anything could happen, but the end results that you were told do not make sense. I think we just forge onward, and ignore this bit of information... That's what I'm going to do, anyway...

Originally Posted by Inscrutable

Sorry to those who have impatiently waited for the details. I think for now on when I post I will be sure to take the day off and stay attached to my computer so I can answer the question as soon as you ask.

Well you asked so I'll tell. Remember I did suggest you call yourself and ask the questions.
Those with a weak stomach should avoid reading.

I called IMF awhile back seeking information on Article VIII and what Iraq would need to do to be in compliance. What I was told is that Iraq is in a transitional phase from war and cannot at present accept the obligations of A. VIII I then went further and asked if this was due to a secondary currency, meaning is it because the US dollar and the dinar were both in use as this is a restriction IMF imposes. Again the transitional phase came about only this time it was stated that the present dinar is a transitional instrument for inflationary purposes.

Someone also brought up that the R card distribution could be to initiate a currency swap. I don't buy it though because not everyone gets the card as I'm sure many Iraqis are well off with dinar.
I never posted this because I didn't want to be the bearer of horrible news or IMF scare tactics.


Anyway, I still think we're a go within the next 2 weeks.

No need to stay in front of the computer....like everyone, when you have time to post, you post.

Question - You said "I called IMF awhile back". How long ago was this call?

The response you got sounds like a "form letter" type answer to your questions. I really feel that if Iraq was in compliance with Article VIII, you would get the same answer. I do not think they would say "yes everything is a go and it will be enacted on XXX date". JMO

Originally Posted by MOM2TWO

How could this be, with the previously stated news?? Please explain before I stress eat a whole bag of cookies!!

Which previous news? what the IMF says?

Blah to them. woOt! for us.

Originally Posted by Inscrutable

Sorry to those who have impatiently waited for the details. I think for now on when I post I will be sure to take the day off and stay attached to my computer so I can answer the question as soon as you ask.

Well you asked so I'll tell. Remember I did suggest you call yourself and ask the questions.
Those with a weak stomach should avoid reading.

I called IMF awhile back seeking information on Article VIII and what Iraq would need to do to be in compliance. What I was told is that Iraq is in a transitional phase from war and cannot at present accept the obligations of A. VIII I then went further and asked if this was due to a secondary currency, meaning is it because the US dollar and the dinar were both in use as this is a restriction IMF imposes. Again the transitional phase came about only this time it was stated that the present dinar is a transitional instrument for inflationary purposes.

Someone also brought up that the R card distribution could be to initiate a currency swap. I don't buy it though because not everyone gets the card as I'm sure many Iraqis are well off with dinar.
I never posted this because I didn't want to be the bearer of horrible news or IMF scare tactics.


Anyway, I still think we're a go within the next 2 weeks.

The way I take it:

" I called IMF a while ago..." - Don't forget that all the news - especially the good ones- came in in the last month or so...
Another one: when the other person called, they said" it is a non-secure line" - well, no one will tell you confidential things anyways, worse if you are on a non-secure line
- besides that, who are we to ask stuff that it is being discussed behind close doors - my friends, if a reval is coming, it MUST be a surprise, no one will tell you " yeah, go buy dinars and be rich"
- on top of it, why do you think that IMF would be informed regarding a reval?
The reval is an internal measure anyway...it is a tool, not the destination

Well, I may be babbling here, but what I am saying is: don't believe what you hear over the phone by calling different institutions. Just like banks: when you went to buy dinars, how many times did you hear " no, we don't sell dinar, but yet, you bought dinars from them -
- yes, he is right to believe that something will be going on in the next two weeks just as we all do because of all that's happening these days

Cheers. It is coming...