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

I found this posted on IIF earlier...just tried to research to get more information to verify and to find a link. This was posted as a thread (United Nations) and as a posting twice. Poof!!!! All gone from there. Has anyone else seen this? Maybe the date was 3/11 and not 11/3.



Baghdad-11-3 (KUNA) -- The Iraqi Foreign Ministry today on Iraq's acquisition of the membership of the Economic and Social Council of the United Nations (Echo Suk) after the vote majority of the members of the United Nations in favor of it.

The ministry said in a statement that "Iraq won membership (Echo Suk) on the continent of Asia and during the elections which took place in the General Assembly of the United Nations yesterday, Thursday,."

It added that Iraq obtained 181 votes out of 192 the number of members of the United Nations to become one of a few countries which got a high percentage of the votes.

It considered this victory, which they described as "important" in appreciation of the international community for the role of the new Iraq in this international organization and the level of the world and diplomatic victory for Iraq.

It is noteworthy that the Economic and Social Council of the principal organs function of the United Nations is responsible for the design of economic and social policies of the Organization.

Hey Always Dreaming - I read this same article on this forum earlier. Will have a hunt and see if I can find it.

Originally Posted by maxib

Hey Always Dreaming - I read this same article on this forum earlier. Will have a hunt and see if I can find it.

Thank you but I was the one that posted it earlier, but was trying to get the link for reference. Not having any luck finding it.

Originally Posted by Par77

Not sure this was posted before but here is the lastest update from FreeDinar. Dan has condensed all the important articles into a nice overview!

WOOOOOTTTTTT keeps getting WOOOOOTTTTTTEEEEEERRRRRR

As promised, here are some highlights from last nights call, including the supporting links.

Foreign Investment Law was passed, but has not been enacted. According to sources, it is expected to be enacted around the 10-11th of November. This would allow foreign investors to setup shop in Iraq with the full protection of the Iraqi government. The BIG question is why are they waiting until the 10 or 11th to enact the law?

Here is a link that talks about High Ranking Officials of the Central Bank of Iraq to undergo advanced training in regards to world banking. BIBF to train CBI officials

As we know that the Saudis have been standing at the boarder just waiting to begin investing in Iraq. We here they go.. Saudis to Invest Over SR2 Billion in Iraq

As much as France has done for Iraq during the War (insert your own joke here) they are going to reap some rewards. The door is open to France for Iraq’s Oil.

This was mentioned on last nights call. Just the beginning of oil contracts to be issued. We know of several large companies just waiting in line for their piece of the Oil Pie. Beijing and Tokyo keen to develop oilfields

Finally we get to hear about HOW and WHEN they are going to start giving out the Dinar to their citizens. As it states in the article, “Early next week”. 10,000 Dinar distributions

This is the most important article. We are searching for the exact article that states the November 20th date (we have it, but not a link as of yet). But according to this article Iraq is starting negotiations to begin trade deals with the European Union. The question that needs to be asked is, “Will they go into these negotiations with such a low exchange rate?” We say, NO WAY. Iraq to sign trade agreement with EU

This is a good website in regards to the meeting in Kuwait and the International Compact for Iraq

New article printed today that finally begins to give us a look as to how much Saddam stashed away in Switzerland. Iraqi authorities have made statements that it could be as much as 40 billion USD. We would tend to believe that understated! Swiss Prepare to return Saddam’s loot (Could be has high as 40 billion USD)

There is so much more news that we plan on having another update over the weekend. Keep your chins up, as we think we have finally arrived!

A special thank you to all of our members and customers who supply us with many good links and a good number of rumors as well.

Par...you've just created a new word....
WOOOOOTTTTTTEEEEEERRRRRR....now thats the WOOOOOTTTTTTIEEEEST!!!


Nice Find.

Cheers!
DayDream

Remember the Yazzmen Rate?
A hawala pricing scheme:
In this scenario, Abdul wants to send 100,000 rupees to his brother Mohammad. This differs from the previous scenario in that he wants to send a fixed amount in rupees, rather than dollars.

The Bank

The bank gives the official exchange rate for rupees (for the purposes of this paper, that is assumed to be 31 Rs/$) and charges $25 for the exchange. The cost of the 100,000 rupees would be $3,125; adding the $25 fee brings the total cost of this transaction to $3,150.

The Hawaladars (Iqbal and Yasmeen)

Iqbal offers his usual rates: 35 rupees for a dollar and five percent commission. The rupees will cost Abdul $2,857, Iqbal's fee is $142, for a total of $2,999.

Yasmeen also offers her typical terms: 37 rupees for a dollar and a fee of one rupee for each dollar remitted. The rupees will cost Abdul $2,702 and Yasmeen's fee is $73. At $2,775, Yasmeen still has the best deal in town!
Below is an article (bad translation) that appeared November 1, 06 in the Al-Mada Daily News, these people being discussed would be The Hawaladars :

Money changers sidewalks alternatives governmental banks in Babel

Banking profession was not a result of this time in our country,Iraq is one of the first Arab countries and the Middle East to deal with the global banking systems, which lead to opening many branches of the Rafidain banks and bureaux de change where there is rampant in the province of Babil, where the conduct discharge operations and the delivery of some banking transactions and managed by specialists in this field.
However, the banking work in Iraq delayed no longer cope with what is happening in the developed world and even in neighboring countries due to lack of financial transactions with banks and lack of confidence by citizens and the delayed completion of the transactions that take place in the routine and monotony So many citizens dealing with the private banks and beyond that to deal with the money changers Alarsafe who sleep public squares or stand near the markets with their hands carrying packages of currency (Iraqi and foreign) and the various groups dealing with the citizens in the discharge In Street library in Hilla and at the entrance to the peace rally a number of cashiers whom knew the secrets of this profession and the reason reported.
The beginning of this profession, reported immediately after the fall of the regime, after the distribution of salaries and bonuses to staff the dollar, including that the employee needed to convert the amounts received to the American dollar was the Iraqi demand for banks and exchange houses, the residents of some big exploited So, standing in front of the door to the disposal of the amount of the recipient there to stop others in the market entrances to the large market of peace and carrying an amount of money with their hands and called those who discharges.
Since this profession does not require the Office to witness had seen a good deal and turned to the dollar other currencies according to need, especially after the increased travel many Iraqis to Iran and Syria, Saudi Arabia, Egypt, Lebanon, which in turn make those cashiers who would currencies of those countries and their replacement by KoMyat needed by the visitor.Each Mojtahed share
Accused of rigging
Perhaps remember that many citizens before the fall, while the former regime distributed salaries currencies were easy forgery, the autograph citizen in a state of perplexity and fear of his salary to be forged and this is what happened to many because of the feeble staff of the banks that forced citizens to conduct salary and especially currencies of 50 dinars and 250 dinars time these stages of the discharges and deduct large sums amounted to 20% of the employee's salary, which was viewed with suspicion and warned those accused, many of whom contribute to the processes of forgery and even participate with some bank staff then has been raised several issues in that period. Each share Mojtahed
Some owners managed to reap a good amounts are translated from their docks to the assignee of the banking or sidewalks or other profession with others remained on their professions, preferring to stand in front of the entrance to the markets of Hilla waiting livelihood note that things are not as they wish it, exposed some of kidnapping, robbery, extortion and the threat was one of the sticks cashier personnel and taking on the road to Baghdad has also been followed up with another cashier more than two hundred thousand dollars was parked in the car in which he was riding and the theft of his possessions.
The sources of these funds typically pocket and the profession does not need at the outset only to a few hundreds of thousands maintained by the cashier in his hands and stop or prevent some of them to foreign currency as some are trying to deal with banking stores for a fee, while certain other depends on the funds of the parents and relatives of some of the rich who wants to make profits and benefits without entering the market.
Limited losses
The high and the exchange rate depreciation of the dollar is no longer affect the profession that the dollar has stabilized since a Toelhadhafh out that the profits of those few cashiers, or known in Halhalarttfae and also that the decline of this profession, which says one of practitioners do not need a certificate or allocated but need to be honest person gain confidence people should be honest in dealing with them in order to be done well and permissible means of livelihood and Vera.
Harassment
They are subject to frequent harassment of the municipal employees and police and sometimes other shopkeepers and practice of monetary exchange where these Benharham and warn them or throw water in a place that forced some of them to persuade the owners of those stores to provide some funds for leaving work quietly and safely
AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì
***********
Just found this interesting in light of previous discussions about the Yazzmen Rate, then an article comes out about it. These are the same guys I posted an article about several weeks ago but they were referred to as "Big Heads" who determined the rate of the dinar on the streets during the Saddam Era.

Cheers!
DayDream

What time does the last exchange close for the weekend? I would think if this is the weekend for a RV it would be done after the last one closes and before the first one opens next week.....Just a thought.

Originally Posted by CharmedPiper

And government officials are going to give us sensitive information just because we call.....If it was easy enough to call it would have been posted to an IMF site or somewhere else.......hell, I have been married to my husband for 19 years and he still won't talk about "sensitive" information from when he was in Iraq....he dealt one-on-one with the local Sheiks and he won't spill any sensitive information.....and I sleep with him.....damn army and their values (just kidding) I respect the oath he took and understand his position...just remember those who take oaths or truely are loyal to their government position will do anything to protect the information they are given and will not jeopardize national or international interests just because we ask. Just my opinion.

and I sleep with him.....damn army and their values (just kidding) I respect the oath he took......

CharmedPiper, I think you should SLEEP WITH THE ENEMY. You might get more information that you can share with us! I am only joking of course. Couldn't resist. LOL. Thank you for all your good information.

Originally Posted by Par77

Not sure this was posted before but here is the lastest update from FreeDinar. Dan has condensed all the important articles into a nice overview!

WOOOOOTTTTTT keeps getting WOOOOOTTTTTTEEEEEERRRRRR

As promised, here are some highlights from last nights call, including the supporting links.

Foreign Investment Law was passed, but has not been enacted. According to sources, it is expected to be enacted around the 10-11th of November. This would allow foreign investors to setup shop in Iraq with the full protection of the Iraqi government. The BIG question is why are they waiting until the 10 or 11th to enact the law?

Here is a link that talks about High Ranking Officials of the Central Bank of Iraq to undergo advanced training in regards to world banking. BIBF to train CBI officials

As we know that the Saudis have been standing at the boarder just waiting to begin investing in Iraq. We here they go.. Saudis to Invest Over SR2 Billion in Iraq

As much as France has done for Iraq during the War (insert your own joke here) they are going to reap some rewards. The door is open to France for Iraq’s Oil.

This was mentioned on last nights call. Just the beginning of oil contracts to be issued. We know of several large companies just waiting in line for their piece of the Oil Pie. Beijing and Tokyo keen to develop oilfields

Finally we get to hear about HOW and WHEN they are going to start giving out the Dinar to their citizens. As it states in the article, “Early next week”. 10,000 Dinar distributions

This is the most important article. We are searching for the exact article that states the November 20th date (we have it, but not a link as of yet). But according to this article Iraq is starting negotiations to begin trade deals with the European Union. The question that needs to be asked is, “Will they go into these negotiations with such a low exchange rate?” We say, NO WAY. Iraq to sign trade agreement with EU

This is a good website in regards to the meeting in Kuwait and the International Compact for Iraq

New article printed today that finally begins to give us a look as to how much Saddam stashed away in Switzerland. Iraqi authorities have made statements that it could be as much as 40 billion USD. We would tend to believe that understated! Swiss Prepare to return Saddam’s loot (Could be has high as 40 billion USD)

There is so much more news that we plan on having another update over the weekend. Keep your chins up, as we think we have finally arrived!

A special thank you to all of our members and customers who supply us with many good links and a good number of rumors as well.

Nice one Parr I like it - Woooter. Who was it that was going to make some t-shirts awhile back? We should get some made for the RV party that say Got wOOt?

Dan / Apollo if you're lurking, thanks for the update and same to you Parr for posting the info. You're the Woootiest

Originally Posted by njd2004

There have been a lot of posts recently suggesting that the 10,000 IQD per citizen handout has been delayed until after an imminent revaluation.

And of course there are wide opinions on what the revaluation would be, but just lately 1.48 seems quite prominent, and would actually make a lot of sense.

But can we really see them revaluing to 1.48 and then giving each Iraqi citizen the equivalent of $14,800?

Somehow I don't think so, and if indeed the delay of the handout is as a result of an imminent revaluation, you would have to then think that the revaluation level would be quite low.

I would personally feel more confident of a high reval if it was in no way linked to this promised handout.

Your thoughts please.......

Neil

10,000 dinar is 10,000 dinar in country it only a big deal to those who are going to exchange it into another.

just my take on it ..

Speaking of sleep, I've been asleep at the mouse lately and meant to add the post about the old rate in a CBI document but forgot to.
Would someone be so kind to link me to the document, the one with the old $3+ rate at the bottom of the doc. Thanks