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

Iraq's leader: I hope Saddam gets what he deserves - CNN.com

BAGHDAD, Iraq (CNN) -- Iraq[/b] is bracing for judges to give their verdict -- and a possible death sentence -- to Saddam Hussein at the end of his war crimes trial on Sunday.

Stiff curfews will be imposed on Baghdad and two provinces from 6 a.m. as officials try to prevent any violent reaction to the trial.

All people and vehicles will be banned from the streets of the capital and Salaheddin and Diyala provinces, and Baghdad International Airport will also be shut down until further notice, the Iraqi prime minister's office told CNN. (Watch as Baghdad residents stock up, get ready -- 3:20)

Prime Minister Nuri al-Maliki said he wanted the trial to deliver justice to the former president.

"I hope the verdict will be what this man deserves for what he committed against the Iraqi people," he said during a meeting with tribal leaders Saturday.

"Therefore the Iraqi people will express their joy in the way they see appropriate; we will call on them in an address tomorrow to remain calm and show constraint and express this joy in an appropriate manner that suit this nations' challenges."

Hussein and seven other defendants will file into the courtroom in Baghdad on Sunday to receive their sentences from a five-judge panel.

Hussein's verdict and sentence -- which could be death by hanging for crimes against humanity -- is expected to be announced last.

The defendants are on trial for crimes stemming from a brutal crackdown against citizens in the town of Dujail after an attempt on Hussein's life in 1982.

People were jailed and tortured, and the government is suspected of ordering the execution of 148 people.

On Friday, attorneys for Hussein and other defendants sent a letter to the presiding judge asking that the verdicts and sentencing be postponed 60 days. The letter accuses the court of trying to politicize the proceedings by announcing a verdict before Tuesday's U.S. midterm elections.

There is a aswome video there to see too as they get ready for the Verdict. Just remember it is from CNN.

videos here: CNN.com International Lots of Headlines Here.

Has anyone bought from the Chase branch in Las Vegas, Nevada?? Planing on moving there and was just wondering.
Thanks.

Just saw the CNN Headline news update, they did mention the coming verdict but nothing economic.

5:59 PM in Baghdad I sure hope today is the day. Good luck all.

Originally Posted by Gloribee

5:59 PM in Baghdad I sure hope today is the day. Good luck all.

I think you mean A.M.

Originally Posted by Gloribee

Just having an uneasy feeling about tomorrow. While I want this thing to reval as bad as anyone, I've got a hunch it may not be tomorrow.
With Saddam's verdict due tomorrow, there's been a curfew Imposed. No one on the streets, no cars, airport closed Indefinetly...
Just having a concern the Iraqi gov't would not make this type of announcment and hand out cards with a reval and no one is allowed out of there house.
There is no doubt that a reval is emminent, but could they still do this tomorrow and have people under curfew with no outside activity allowed?
Just throwing it out there for discussion, I'm no expert, but it is a concern I'm having.

Seems to me that if they reval the best thing is to keep the people in their homes for a day or two, deal with Saddam, get the shop owners ready, let the people know what the 10k dinar distribution is really worth in purchasing power and see what happens. Has to work better and for less money and lives than what is happening now. Seems like the whole planet wants what Iraq has to offer. We all know this is a SURE THING!!
Sooner rather than later we all hope. Luck all and have fun when it happens!

Originally Posted by lndmn_01

I think you mean A.M.

Sorry. your right, still cant get around there time change. Its dark here ya know !!! LOL thxs again

has anyone heard anything on cnn headline news about the NEW ECONOMIC PACKAGE YET not that i doubt SGS but its always nice for a confirmation.WAY TO GO ROL CLUB FAMILY!!!!

Okay,

I know that this is already past history but I decided to look a little deeper on this.

Please remember that all I am posting here is strictly JMVHO.

A sudden rise of the dollar exchange rate in Iraq | Iraq Updates

Economy


27 October 2006 (Asharq Alawsat)
The dollar exchange rate varied between the Iraqi Central Bank and local markets, especially after the official auction to sell currencies stopped convening for ten days because of Eid al-Fitr.

The observers of the currency market confirmed that any occasion interposed by public holidays, specially those that continue for several days, is expected to raise the value of the American dollar against the Iraqi dinar but the difference is limited and does not exceed in the most serious cases 1500 dinars to the dollar, because such increases in the view of some speculators will be temporary, and they fear from the Iraqi Central Bank being a safety valve of the Iraqi dinar and market. If the Bank thought that the market rose, as the case happened a year and a half ago, it would suspend its vacation to begin offering large amounts of hard currency on the market directly and at prices lower than the circulation price; that is why most speculators are afraid to keep large quantities within their bags due to the risk of loss. But, dealing in the market is done on the basis of supply and demand; this means that small speculators, dealing directly with citizens, would achieve very high profits for this reason. And about their expectations of market prices, the observer demonstrated that the dollar exchange rate in the central auction, held in the Iraqi Central Bank, finally began to retreat before the Iraqi dinar, as the Bank started floating huge amounts of dollars because of the government's need for local cash, especially as the volume of government's consumption increased recently and this requires securing these expenses through the auction. The supply has increased lately from $ 35 million to $ 60 million per day.

The Bank started its daily auction with 1470 dinars to the dollar after being 1477. As for the markets, the dealers with citizen were not affected by the sudden decline but they would rush to raise their prices at the same moment with the increase; thus, it is expected for the demand to increase during these ten days, which would not be attended by the Iraqi Central Bank, but not much. About the last formal cession of the Bank, the auction manager there clarified that the sale price at which the auction came to was 1470 dinars to the dollar, accepted by the Bank, according to the buyers' desire and sold $ 43.8 million at the same prices. The quantity sold in cash to the Banks and its clients was $ 18.690 million at the price of 1470 with the addition of 11 points as prices contrast and profitability ratios, while the quantity sold for remittances to out of Iraq was $ 25 million, at 1470 dinars. This means that the amount of remittances surpassed the sale quantities of banks and this is due to the high demand for transfer, especially after the increased need to acquit the companies collaborating with the outside and the start of the reconstruction phase in Iraq.

Translated by IRAQdirectory.com Team

Ok. Now here it is clear that when the banks stop the auctions the value of the Dinar will lower. Now they make mention to the CBI as only being a safety valve can be somewhat validated as to the upkeep and quality of the website.

In recent posts by our esteemed members here we have seen very subtle changes that have been introduced into their policies and procedures.

It is something that most people would ever take notice to (whether thats a good thing or a bad thing ) and the other mention as to what was heard on CNN Headline.

observers of the currency market confirmed that any occasion interposed by public holidays, specially those that continue for several days, is expected to raise the value of the American dollar against the Iraqi dinar but the difference is limited and does not exceed in the most serious cases 1500 dinars to the dollar, because such increases in the view of some speculators will be temporary, and they fear from the Iraqi Central Bank being a safety valve of the Iraqi dinar and market.

This has been a bit confusing but to introduce the "New Economic Projects" when they are processing a verdict that can be their 4th of July with a very generous heartfelt gift to the Iraqi Citizens who more than deserve a step up in life.

If the Bank thought that the market rose, as the case happened a year and a half ago, it would suspend its vacation to begin offering large amounts of hard currency on the market directly and at prices lower than the circulation price; that is why most speculators are afraid to keep large quantities within their bags due to the risk of loss

Here we have direct mention to us

dealing in the market is done on the basis of supply and demand; this means that small speculators, dealing directly with citizens, would achieve very high profits for this reason

I tend to like this line. Some of the larger dinar dealers made mention to not being able to access the ratesand therefore holding on shipments. The gift was delayed and this would be directly linked so they had to come back online with the same rate.

As for the markets, the dealers with citizen were not affected by the sudden decline but they would rush to raise their prices at the same moment with the increase; thus, it is expected for the demand to increase during these ten days, which would not be attended by the Iraqi Central Bank, but not much.

This is refering to what is going on right now. They are ready to go, all the laws are in place or just about ready to pass, and we know with Saddam going down this is the best time to introduce the New Iraq.

This means that the amount of remittances surpassed the sale quantities of banks and this is due to the high demand for transfer, especially after the increased need to acquit the companies collaborating with the outside and the start of the reconstruction phase in Iraq.

So once again this is all just my Humble Opinion.

Please feel free to rip it apart or appreciate and add anything I may have missed.

Cheers and Goodwishes.

I have no doubt that if not now then VERY SOON.

Originally Posted by warrior44

has anyone heard anything on cnn headline news about the NEW ECONOMIC PACKAGE YET not that i doubt SGS but its always nice for a confirmation.WAY TO GO ROL CLUB FAMILY!!!!

Oh Well. It will come out tomorrow. Baghdad Time: 06:34am, 11/05/2006 ~ market is closed | $1 USD = 1469.63 IQD ^