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

Originally Posted by neno

Good morning from Texas,

I was just wondering, if you bought any amount of dinars and the value right now is 1476nid's to 1 usd today and say they dont peg by the time you are going broke. You shound be able to exchange them again for what ever the exchange is at that moment right. "EXAMPLE"

100,000nid's you bought by for $100.00usd today should be worth something like $70.00usd when you recieve them right? Just a thought.

Interesting,

I would think that each day we get closer to peg is putting more pressure on market which is driving prices up regardless of current actual exchange rates, so I wouldn't worry, there will always be a secondary market for dinar, just as there has been for a couple years, totally different than actual exchange rates if effect. It is all about supply and demand, and the demand is starting to effect supplies more and more.

Good luck to all, Mike

Originally Posted by boborowe

As we are all interested in the Iraqi Dinar, I thought I would share this television channel I found on my Direct/TV satellite dish.
Channel #357 in the USA
CNBC- Middle East/ Pakastan/ India Business News
When news breaks on a peg in the dinar, this channel is a good one to watch
Good luck.................

Thanks for that channel boborowe. I flipped for awhile and was just leaving one screen on foreign afairs.

Originally Posted by Offshore-Wealth.com

Sorry,

But not wanting to be a party pooper for the long holiday weekend for many, but I still hear is will be a few more weeks, but what do I know? (g) As to peg, I still hear less.

Good luck to all, Mike

A whole heck of a lot more than the majority of us on this subject!

(C'mon Mike! 'Fess-up! Or at least give us a hint as to where your source is from! ...they should have a 'pretty-please-with-sugar-on-top' smiley!)

Originally Posted by tiffany

A whole heck of a lot more than the majority of us on this subject!

(C'mon Mike! 'Fess-up! Or at least give us a hint as to where your source is from! ...they should have a 'pretty-please-with-sugar-on-top' smiley!)

Hi Tiff,

I have associates in oil industry, and the Kurdish controlled region was always the most stable, so while Bagdad was focus of most of the terrorist activity, and most issues are between Shiites and Sunnis, so knowing someone within the Kurdish rule has been helpful. There are others, but I weigh one against the other and not the forums where speculation is at best, sketchy. I would like nothing more than to be wrong and peg comes today and at 1:to 1:, but I will stick with what I am still hearing. (g)

Good luck to all, Mike

I have PM'ed you Mike. :-)

Originally Posted by Offshore-Wealth.com

I would like nothing more than to be wrong and peg comes today and at 1:to 1:, but I will stick with what I am still hearing. (g)

Good luck to all, Mike

Hey Mike

What exactly have you heard? I know you said mid June. But what about the ratio, peg, or revalue? (are they all the same?)



Hey Mike
Never mind I found where you posted your opinion.... Good post by the way.....

http://www.rolclub.com./showpost.php...0&postcount=22


"I still feel the peg will be an initial lower point of .30 to .40 and allow economy to dictate rise in value based on economic growth, so don't rush out and exchange more than you can shelter"


.

Hi everyone, Go to http://circuitcity.com and enter item number 6311310 in the search box. This pen works great for checking the UV security features. The price isn't bad either.

Well just did another 250,000nid's in 1k notes (safedinar 244.00 plus shipping 24.00=268.00 COD). This way my 5k's and 1k's can be 9k's at a time hehe (stay away from forum 8300). Total now 3/4 million. Might take advice and just set on them for another two years.

got some news for you all:

It seems as thought Iran has some pretty tantalizing offers for Iraq to the tune of US 1 Billion:
"The Islamic Republic has set aside nearly $1 billion to help Iraq," he said, adding that Iranians were ready to come and implement the projects. He said the projects could be carried out in the southern Shi'ite provinces or the northern Kurdish ones” http://www.tradearabia.net/tanews/ne...760&Sn=&Cnt=31

I would not let those interests rattle my cage just yet, besides more money is better is it not? It is “who is in control of the money” is what matters.

Speaking of which it just so happens that Secretary Snow happened to be hanging out with who else but the Iraqi Central Bank Governor Sinan Al Shabibi:

Snow spoke to reporters travelling with him after a private meeting with Sinan Al Shabibi, Iraq's central bank governor, about conditions in Iraq now that a new national unity government is in place. http://www.tradearabia.net/tanews/ne...451&Sn=&Cnt=31

While he and Shabibi did not discuss a timeline within which Iraq needs to establish increased security, Snow said it needed to happen soon to benefit the Iraqi economy.

Snow had this to say:
'The next six months will be the time for this government to come together, show what it can accomplish, take charge of the security issue,' Snow said, so that Iraq is seen as a safer investment site.

“Security is now everything in terms of the path forward”
'With security will come investments
With security will come much better performance of the electricity sector, which had been badly hurt by saboteurs.
With security will come investment in oil and much higher oil output.”

He obviously forgot the last one, so I will say it for him…


With security will come the appreciation of the Iraqi Dinar
.

Another step towards the future…

Recently ACER got together with MTC to distribute its products in Iraq. It has set up a new 50,000 sq ft assembly line and facility in Jebel Ali Free Zone. The products it distributes include items such as desktops, notebooks and high-end monitors. http://www.tradearabia.net/tanews/ne...685&Sn=&Cnt=31
Unfortunately the insurgents wont be using them “No mobile phones, no landlines, no Internet” – is the message anti-U.S. rebels have recently received from their commanders.
http://www.azzaman.com/english/index...-05-24\193.htm which is bad in the sense that we won’t be able to catch the bad guys as easily… but what is good is the new products (which was mentioned in the previous article( will fall into the right hands, as the insurgents would have no use for them. Talk about a wild chess game…

Not getting “PUNKED” anymore…

Iraqis are tired of getting beat up by local importers and now they are taking a stand:

'If they do not supply this tender then we will stop giving them any (deals) in new tenders,' said Khalil Assi, head of Iraqi Grain Board referring to the Australian Wheat Deal currently going on. http://www.tradearabia.net/tanews/ne...669&Sn=&Cnt=31

The Iraqis had earlier said that the price had been set at $190 a tonne, but Wheat Australia said on Monday that world prices had risen to around $220 a tonne for the grades of wheat involved.

Apparently that is not the only import troubles Iraqis are facing:

The Petrochemical Complex at Khor al-Zubair in Basra has halted production, the company director Nasser Hamad said.Hamad said the plant had been working for nearly a month and it had filled its warehouses and stores with its two primary products of chlorine and polymers. “But there are no buyers and we cannot go on producing,” he said Hamad blamed government ministries who preferred imports to locally produced chlorine. http://www.azzaman.com/english/index...-05-23\189.htm

Source: the links and investorsiraq.com

regards
John

The Last Word: Sinan Shabibi

Iraq Is Open For Business


How long do you think the U.S. should stay in order to stabilize your country?
If we can contain the terrorists and the insurgency and bring all the people into the political process—I am not able to give you a time. Probably one year or less. All foreign investments are shying away from Iraq [now] because of the instability.

Are you trying to attract foreign banks?
Foreign banks have been given access to operate in Iraq, but they haven't opened because of the problems. What they are doing is operating joint ventures with Iraqi banks. So we have given them a license to operate fully, but they are coming partially.

You personally have urged these banks to come.
We urge them to come because we think that if they wait for 100 percent security, this is probably not going to happen for a long time. I think if they work with Iraqi banks, it will contribute to security. It is a two-way street. If foreign investment comes to the country and generates employment in partnership with domestic investors, it will absorb people who would have joined the insurgency otherwise.

Three years ago the World Bank promised Iraq $400 million, but only $30 million has been delivered to Iraq. Why? Hasn't the Bank refused to send volunteers to your country?
There is a problem of disbursement of aid. There is a policy that because of the security situation they don't want to come to the country. They [say they] will come when the situation becomes better.

But these same institutions go to other dangerous countries. Isn't that unfair?
Of course it is unfair. Their argument is that in the attack on the U.N. building [which took place in Baghdad in 2003], the representative of the secretary-general was killed as well as a lot of people from the IMF. They think that they are always targeted, so that's why we have a lot of meetings in neighboring countries—in Jordan, in Abu Dhabi.

Is one of your goals to change Iraq from a cash- to a credit-based economy?
We have already started that. This relates to strengthening the payment system in general. There are a lot of problems associated with cash. If you carry a lot of money it can be used for many purposes, even money laundering. We have to increase people's awareness [that it is a good idea to deposit] money into banks.

You have cut Iraq's debt by 80 percent?
We have an agreement with the Paris Club. We have changed the currency from Saddam's to a new currency. The dinar is really stable. We have also stabilized the exchange rate. We have auctions of Treasury bills to determine the interest rate, and inflation is more or less under control—12 to 13 percent. We used to have hyperinflation. From the economic point of view, we have actually attained economic stability. The environment is very conducive to foreign investment, were it not for this insurgency.

http://msnbc.msn.com/id/9631123/site/newsweek/