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

Originally Posted by MunnyBaggs

Shibibi must maintain transparency required by Central Bank law and IMF. If he says 50% then rest assured is is close to 50%. However 50% is still way too high and some sort of re-val must be implemented to help chip away at that inflation rate.



The sooner the better, Kiko, the sooner the better!!!!!!

i hear a lot about the 50% inflation rate, what happens if they did a high R/V, infation would then be under control, how, please explain.. thx

Wiki's not an official source though, I could go in there and write that the Dinar revalued today but we both know it didn't.

Good night, thanks again.

Originally Posted by MrsCK

when you go to wikipedia look up Kuwait - when it comes up their is a box on the right hand side - scroll to currency - then like on the dinar - the history for kuwait dinar will some up. The days off the top of my head was Sunday, Wednesday and Thursday.

gave the dates for germany and japan. Ran out of steam for kuwait. sorry.
Good night all
Chris

Hi Everyone,

I read the Marshall Plan a little while back when it was posted but I think I remember it stating that it would have to RV before the Compact is signed. Dose anyone else remember this. This would be good as they could not draw this out any longer than the end of November even though I think this week is it.

Dinar-Excited

Originally Posted by MrsCK

Let me see if I can find my notes on it - IMF website has it all. BRB with info with kuwait, germany and japan OK

I WILL BE EDITING THIS POST OF THE ABOVE SO NENO DON'T HAVE TO CLEAN UP AFTER ME:

The yen lost most of its value during and after World War II; after a period of instability, the yen was pegged at 1 US dollar = ¥360 from April 25, 1949, to until 1971 when the Bretton Woods system collapsed and the value of the yen began to float. After the Plaza Accord of 1985, the yen appreciated against the dollar. APRIL 25, 1949 WAS A MONDAY - Plaza Accord was September 22, 1985 WAS ON A SUNDAY

Germany Mark: German Mark was the official currency of West and, from 1990 onwards, unified Germany. It was introduced as the official currency of East Germany in July 1990, replacing the East German Mark, in preparation for unification on October 3. Ostmark bank accounts were exchanged at a rate of 1:1 OCTOBER 3, 1990 WAS A WEDNESDAY

Kuwait:
The Kuwaiti dinar (ISO 4217 code KWD) is Kuwait's official currency. The dinar is sub-divided into 1000 fils. It was established in 1960 and replaced the Gulf rupee in 1961. Sorry can't find the date.

Interesting. In the case of Germany, back in 1948 they changed the currency and revalued it all in one night. the announcement was also made on a Sunday and was instituted the next morning. It took the nation by surprise.

Origins of the German 'Economic Miracle'

In Japans case it was the same scenario for the revalue of the yen in 1985. By the way the Value doubled in that case.I know this because one of our members, Dinar Cha Ching brought that to my attention in another discussion. He was in Japan at the time and observed it first hand. But here is a link that discusses it as well although it does not name the rate except to say the revalue was significant. Chinger's first hand report though is excellent.

Addicted to foreign capital :: Focus on the Global South :: A Program of Development Policy Research, Analysis and Action

Quote: Central to this development was the Plaza Accord of 1985, which drastically revalued the yen relative to the dollar

These are two good examples of Revalues that happened overnight and both were announced day before on a day when the markets were closed, which is only common sense.

So there you have models for Iraq to follow. Except for Rate level I think both of these are more relevant than Kuwait.

Originally Posted by wciappetta

Interesting. In the case of Germany, back in 1948 they changed the currency and revalued it all in one night. the announcement was also made on a Sunday and was instituted the next morning. It took the nation by surprise.

Origins of the German 'Economic Miracle'

In Japans case it was the same scenario for the revalue of the yen in 1985. By the way the Value doubled in that case.I know this because one of our members, Dinar Cha Ching brought that to my attention in another discussion. He was in Japan at the time and observed it first hand. But here is a link that discusses it as well although it does not name the rate except to say the revalue was significant. Chinger's first hand report though is excellent.

Addicted to foreign capital :: Focus on the Global South :: A Program of Development Policy Research, Analysis and Action

Quote: Central to this development was the Plaza Accord of 1985, which drastically revalued the yen relative to the dollar

These are two good examples of Revalues that happened overnight and both were announced day before on a day when the markets were closed, which is only common sense.

So there you have models for Iraq to follow. Except for Rate level I think both of these are more relevant than Kuwait.

I have also been searching and sniffing around for dates relevant to earlier post about wednesday being the day most revaluations take place...

The only one so far I could find that revaluated on a wednesday is Kuwait 1 time on May 11, 2005...

The other time Kuwait revalued as in the story of the link at bottom is when the peg switched over to US Dollar on January 5, 2003 which was a Sunday...

Still sniffing around though, I wish that post was posted with some link or fact earlier, this is driving me nuts all day...

Kuwait revalues dinar

KUWAIT/LONDON, May 11: Kuwait revalued the dinar for the first time in 17 months on Thursday, sparking a rally in regional currencies and intense market speculation that Saudi Arabia, the world’s top oil exporter, would follow.

A central bank spokesman said the Kuwaiti dinar had been revalued for the first time since January 2005 to allow a 1 per cent appreciation against the dollar.

Kuwait revalues dinar -DAWN - Business; May 12, 2006

Saddam lieutenant calls for Baath Party insurgents to stop fighting

ASSOCIATED PRESS

3:24 p.m. November 7, 2006

BAGHDAD, Iraq – Saddam Hussein's former second in command, now a fugitive with a $10 million bounty on his head, has ordered Sunni insurgents loyal to the former president to cease attacks, according to government and parliamentary officials who claimed knowledge of the developments.
Four officials in the Iraqi government and parliament, each in a position to hear about largely secret efforts to reach accord with members of the Sunni insurgency, said former Iraqi vice president Izzat Ibrahim al-Douri has ordered insurgent leaders who are linked to Saddam's ousted Baath Party to end attacks within the past two days.

The officials, who said they knew about the order independently because of their contacts with members of the insurgency, said the directive was issued through couriers sometime after Saddam was sentenced on Sunday to hang for crimes against humanity. The four answered questions from The Associated Press on condition of anonymity because of the sensitive nature of the information.
It was impossible to verify the statements independently and too early to know if the reported order would have any effect on the war. Former Baathists are thought to be a major component of Sunni resistance to the Shiite-led Iraqi government and foreign forces, but not the only component. On Tuesday, mortar attacks fired into a Shiite neighborhood killed at least 14 people, after an attack on a Sunni neighborhood killed seven, police said.

In a major concession to insurgents and the Sunni community Monday, the government agreed to legislation that would reinstate Baathist officials to positions of responsibility. The Baathist officials had been purged from their jobs in the first days of the U.S. occupation.

Word of al-Douri's message coincided with a call for reconciliation from Saddam himself on Tuesday during his ongoing second trial. The trial is for the Operation Anfal crackdown by Saddam's government against Iraqi Kurds in the late 1980s.

Saddam, speaking to the court in the afternoon session, cited references to the Prophet Muhammad and Jesus who had asked for forgiveness for those who had opposed them.

“I call on all Iraqis, Arabs and Kurds, to forgive, reconcile and shake hands,” Saddam said.

Saddam, who has issued previous pleas to spare the Americans, may be trying to influence world opinion and save him from the gallows.

The Iraqi government officials also said that Saddam had sent a message through his lawyers to exiled party members four days before his Sunday sentencing, instructing them to pick a new leader if he were sentenced to die and to join Iraq's political process “for the good of your people.”

The U.S. military did not respond to queries about whether American forces had detected a diminution in insurgent attacks by fighters loyal to Saddam.

Despite fears of a surge in attacks by Iraq's Sunnis and renewed revenge killings in the wake of the death sentence, the country has been relatively calm, with most violence carrying the trademark of Shiite death squads.

Iraqi authorities imposed a total curfew on the country Saturday night, on the eve of the verdict, but lifted it at 6 a.m. Tuesday because of the relative peace after the verdict.

But fighting could continue to rage in insurgent areas because there are many other groups still attacking U.S. and Iraqi forces as well as Shiite Muslim civilians and militias.

Among those insurgent organizations are the 1920 Revolution Brigades, the Islamic Army in Iraq, the Muhammad Army and the Mujahedeen Shura Council, the umbrella group for eight other militant groups including al-Qaeda in Iraq.

The reported al-Douri order coincided as well with talks currently taking place in Jordan between Americans and insurgent groups, including Baath Party officials, according to several of Iraq's Sunni lawmakers and government officials.

One Sunni lawmaker said the Baathists told U.S. officials they realized they could not take back control of government but that the fighting could not stop without their agreement. The parliament member suggested that Baathists were trying to strike a deal for amnesty or leniency.

Saddam is a Sunni Arab and that sect, a minority in Iraq, was dominant for decades and brutally oppressed the Shiite majority, which seized the levers of power after the former leader was ousted by American forces in April 2003.

A few months after the American invasion, disaffected Sunnis launched the insurgency, which has been responsible for the vast majority of U.S. military casualties and tens of thousands of Shiite deaths.

Last month U.S. Ambassador Zalmay Khalilzad said the United States had enlisted help from Sunni Arab powerhouses such as Egypt, Saudi Arabia, Jordan and the United Arab Emirates in a bid to bring insurgents to the table.

Washington also has been pressing Iraq's Shiite prime minister, Nouri al-Maliki, to agree to an amnesty for insurgents.

In addition to the U.S. talks with insurgents and Baath Party members, the al-Maliki government has dispatched independent missions to Jordan, where meetings took place in Iraq's Embassy with the Baathists “to listen to their point of view,” said a senior government official with close insurgent ties. He also demanded anonymity because of the sensitive nature of the information.

Originally Posted by PopaDinar

I have also been searching and sniffing around for dates relevant to earlier post about wednesday being the day most revaluations take place...

The only one so far I could find that revaluated on a wednesday is Kuwait 1 time on May 11, 2005...

The other time Kuwait revalued as in the story of the link at bottom is when the peg switched over to US Dollar on January 5, 2003 which was a Sunday...

Still sniffing around though, I wish that post was posted with some link or fact earlier, this is driving me nuts all day...

Kuwait revalues dinar

KUWAIT/LONDON, May 11: Kuwait revalued the dinar for the first time in 17 months on Thursday, sparking a rally in regional currencies and intense market speculation that Saudi Arabia, the world’s top oil exporter, would follow.

A central bank spokesman said the Kuwaiti dinar had been revalued for the first time since January 2005 to allow a 1 per cent appreciation against the dollar.

Kuwait revalues dinar -DAWN - Business; May 12, 2006

dont freak out about it. the information could be bunk also as i heard it from someone and never looked into it myself. my bad.

Just got an e-mail from my friend in Iraq. says that there is an unusual amount of troop movement this morning. ( There Morning) I will not say where in case it may be a security move, but he was asking if we are hearing anything as far as Dinar movement. I have told him what I have heard. He will e-mail me back as he is going to do a little asking around. I will be in bed by then but will post in ( our ) morning if its anything substantial. So far thou he has not heard anything concrete, but he is my " Boots on the ground " I think he is more excited than we are. It would mean he's " acoming home to momma"

Originally Posted by PopaDinar

I have also been searching and sniffing around for dates relevant to earlier post about wednesday being the day most revaluations take place...

The only one so far I could find that revaluated on a wednesday is Kuwait 1 time on May 11, 2005...

The other time Kuwait revalued as in the story of the link at bottom is when the peg switched over to US Dollar on January 5, 2003 which was a Sunday...

Still sniffing around though, I wish that post was posted with some link or fact earlier, this is driving me nuts all day...

Kuwait revalues dinar

KUWAIT/LONDON, May 11: Kuwait revalued the dinar for the first time in 17 months on Thursday, sparking a rally in regional currencies and intense market speculation that Saudi Arabia, the world’s top oil exporter, would follow.

A central bank spokesman said the Kuwaiti dinar had been revalued for the first time since January 2005 to allow a 1 per cent appreciation against the dollar.

Kuwait revalues dinar -DAWN - Business; May 12, 2006

Sorry everyone I got confused in all the reading I did with this Wednesday info... I for some reason got and used the wrong years while calculating the days, wow, I guess you guyz, especially you Suzie know what I have been doing the last hour...

It tells me right there in the article Thursday, but I read an earlier article whith this info and thought it was from 2005 not 2006, also factoring in I know the exact date of when they switched and pegged to the US Dollar which was January 5, 2003 which I thought they were refering to... sorry everyone

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