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

Barzani : Americans liberated Iraq and did not shed in vain

(Voice of Iraq) - 07-11-2006
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Barzani : Americans liberated Iraq and did not shed in vain
07 / 11 / 2006 10:38 (GMT)
Said Massoud Barzani, head of the Kurdistan region of Iraq that the blood spilled by the Americans in Iraq have not been in vain because they liberated Iraq from the dictatorship.

Originally Posted by Cdn Scrooge

Another reason why it is so important to Europe and North America that Iraq get back to a high oil production level. They are NOT a member of OPEC and are not bound by OPEC's decisions. And as long as they continue towards a full democracy they are not likely to become members. Getting their oil production levels up will make it more difficult for OPEC to manipulate oil prices.

Iraq surely is a member of OPEC but in recent articles has stated they will not be bound by quota since for over a decade they have not pulled there fair share.

Who are OPEC Member Countries?

Originally Posted by owejac

Hello kiko,

Thanks for your reply. as I have read some other posts after quoteing you I realise that I have been wrong.
I assumed that CBI did sell US$ 109.150.000 worth of IQD. But now I understand that they did purchase US$ 109.150.000 worth of IQD, and that they sold US$ 3.000.000 worth of IQD.

Have I now gotten things strait? or am I far out in space?

Please ecskuse my poor English. I am from Norway, and my English grammar are rather poor I'm afraid.

owejac, you are 100% correct in your understanding.

Originally Posted by AlwaysDreaming

I usually don't see an amount for the sell....is this unusual for the rates on 11/7?

I have never seen them selling!!!

Gotta wonder what they're doing. They have never sold back the currency as per the CBI site.

Originally Posted by owejac

Hello kiko,

Thanks for your reply. as I have read some other posts after quoteing you I realise that I have been wrong.
I assumed that CBI did sell US$ 109.150.000 worth of IQD. But now I understand that they did purchase US$ 109.150.000 worth of IQD, and that they sold US$ 3.000.000 worth of IQD.

Have I now gotten things strait? or am I far out in space?

Please ecskuse my poor English. I am from Norway, and my English grammar are rather poor I'm afraid.

Now I am getting confused. If they purchase US$ 109.150.00, surely they are buying them with NID???? That's one shite load of NID

Originally Posted by Jola

I have been waiting for two hours now for someone to answer my earlier question if we know anything about the 10k handed out...no one answered though...:(

So I take it , the 10k has not been handed out...

Interesting,

No 10K according to my Kurd associates, and in fact, there is little concern over it, which is even more strange. The talk on the streets is that this is nothing new coming from Baghdad, as you know, the Kurd's are not happy about all the talk, and no action. I would have thought they would be pissed to be baited with a stipend and then not get as it was intended on their holiday ending celebration. Sure is a strange way to run a country.

Good luck to all, Mike

Hmmmm

Is it possible that CBI buying back all the dinars they can get their hands on previous to an r/v.

US$ 109.150.000 worth of IQD to day.

Originally Posted by clintstella

Now I am getting confused. If they purchase US$ 109.150.00, surely they are buying them with NID???? That's one shite load of NID

Just a crazy scenario to see if I understand:

Let's say there was a reval, they bought 109.150.00 NID (which is larger than we've seen) and this would be from banks in Iraq ( I wouldn't think the merchants would know yet about the reval). Now, I haven't seen them sell before. Could the 3.000.00 be what they have sold to the banks in the smaller denominations? I know it doesn't seem like alot, but if the 10,000 gifts were given out and the people were to open accounts, the 3.000.00 would be for pocket change.

Would this make any sense?

Originally Posted by Innkeeper1

does anyone know exactly how kuwait revalued their currency?? I heard it was down at around .10 per dinar during the war and now its pushing 3.00 did it have a large revalue? or did it just climb back up during a period of time?? was it re-introduced to forex?? anyone know the hitory on the kuwait dinar?? just curious may give some insight to how this will work..thanks in advance :-)

Interesting,

Yes, it dropped like a rock to .10, but in 18 months started to rise once it was obvious all the bombed oil wells that were destroyed and set on fire were reversed. Many said the Kuwaiti dinar would never recover, and I am sure that sounds familiar to many of us here. (g) It just went up again to 3.40, so although it took years to recover, it did.

Good luck to all, Mike

Originally Posted by clintstella

Now I am getting confused. If they purchase US$ 109.150.00, surely they are buying them with NID???? That's one shite load of NID

No. If I understand it correct, they have spendt US$ 109.150.000 buy back IQD from outside Iraq.

Somebody please correct me if I am wrong.