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

Originally Posted by paynes1

This was a projected number. The International compact has 22 member countries in which 8 of them represent the G-8 countries of the world. The G-8 is responsible for 65% of the worlds trade. You now have the Worlds economies backing the dinar and we waiting for them to get thier ducks in a row in order to trade Internationally. Less than 1 to 1 is not a option. I am really surprised the naysayers dont get this.


Marshall Plan = International Compact

Just to be clear..I am not a naysayer. I posted that because of the events of the last few days. I am still praying for a higher reval and soon but thought it was worth posting witht the evnets of the auctions the last few days

Experts stress the need of Kurdistan government for Baghdad's approval to export oil
Barham Salih: there are problems over the oil law but we will defeat them for the interests of all
08/11/2006
Source: Prepared by IRAQdirectory.com


The Iraqi Deputy Prime Minister, Barham Salih, in charge of the chairmanship of the Committee drafting the new Iraqi oil law, admitted the existence of "problems" with regard to the oil draft law of Kurdistan region. He said that "despite the current problems, I am confident that good will would overcome these problems and ensure the development of this wealth and benefit from private investments so as to ensure the interests of all parties".

The Deputy Prime Minister refused to go into details of the dispute between Baghdad and Erbil on Kurdistan oil, but he stressed that "talks on the completion of the Iraqi oil law would be resumed soon, and representatives from Kurdistan will participate in them ». He added that the draft law is expected to be presented by the Commission of writing down the draft law of Iraqi oil to the Iraqi parliament before the end of the year, and it will determine the responsibility of provinces and the central government on the oil industry and the rights of each party.

However, the draft bill of Kurdistan oil is ready and expected to be approved soon. This may mean that the regional law will be issued before the law of the federal government. On his part, the spokesman of Kurdistan government, Khalid Salih, said: "His government is determined to proceed with applying its law which falls in line with the Iraqi Constitution that clearly recognizes the superiority of the regional law over the federal government law in this matter". It is noteworthy that the draft law based on Article 115 of the Iraqi Constitution, which provides that "all that was not provided for in terms of exclusivity to the federal authority falls under the power of regions and provinces which are not members in a region.

Other joint powers between the federal government and the regions give priority to the law of regions and provinces in case of disagreement between them". Khalid Salih explained that the draft bill for Kurdistan oil has not been formally presented to the Kurdish Parliament yet, but the Kurdish Minister of Natural Resources, Ashti Horami, has completed the work on the draft law and presented it to the Cabinet of Kurdistan, then to be submitted to the Kurdish Parliament in a few days. This law is prior to the draft text of the Iraqi oil law which is expected to be submitted by the central government in Baghdad and which will clarify the final form of distributing the oil wealth on Iraqi people and the role of regions in running it.

This led to some opposition among Iraqi quarters. In spite of the confidence shown by officials in Kurdistan government in continuing the development of oil fields in the region, there is a problem that may hinder the export of oil from the there and benefit from its incomes and that is the issue of transporting oil, especially that the oil pipelines belong to the central government.

A delegation, headed by the Kurdish Prime Minister Najirvan Barzani, is expected to visit Baghdad in the coming days to resolve the differences on the Kurdish draft law and consult on the formulation of the Iraqi oil law. Although the earlier draft of the Iraqi oil identified three months to resolve the differences between the central government and the government of Arbil on Kurdish law since the date of approval; however, the latest draft does not specify a period of time for that. Article 24 of the draft law explains that in case the Iraqi government and the regional one fail to reach an agreement over wealth-sharing and management of oil, the regional government will entirely run the oil operations, including the control of the oil revenues.

Abdel Aziz Al-Otari, the former Iraqi Oil Minister, explained that the current law applicable in Iraq is the "National Oil Company Law" that goes back to 1964 and which puts all the operations of oil at the disposal of the central government and the incomes go to the central treasury. As for the Kurdish oil and disagreements over the distribution of oil wealth, he said: "The issue depends on the legitimacy of such wealth and the international recognition of Kurdistan and its right to dispose of its oil".

As for the export of oil from Kurdistan region, Al-Otari explained: "transporting oil through the Iraqi oil pipelines or by trucks, in small quantities, must be done in cooperation with the neighboring countries". Valery Marcel, the competent of "oil affairs in the Royal Institute of International Affairs" in Britain, pointed out that "the bulk of the Iraqi government in its negotiations with the government of Kurdistan region is ways to transport oil".

http://www.iraqdirectory.com/DisplayNews.aspx?id=2520

Originally Posted by ordinaryseawoman

The Central Bank witnesses the highest circulation and exchange rate of the dollar in 2006
The Central Bank witnesses the highest circulation and exchange rate of the dollar in 2006
08/11/2006
Source: Prepared by IRAQdirectory.com


The auction of the Iraqi Central Bank witnessed yesterday, Tuesday, the highest demand on purchasing the dollar during the current year as well as the higher exchange rate for the dollar for over a year. Also, several banks sold dollars to the Bank where the demand for purchase registered $109 million and 150 thousand, compared with 70 million during the previous session

http://www.iraqdirectory.com/DisplayNews.aspx?id=2519

So yes, they are buying dollars with dinars. I believe the circulation the headline mentions is dinar, the highest amount of dinar in circulation. I would like to see the reverse right before an rv...reduce the number of dinar in circulation...at this point, I'm just watching and waiting....by the way, what's up with the stipends? someone said moday the 7th, and now it's pushed back to sunday the 12th? no surprise--just wondering what's the latest word.

Thanks, OSWoman

WHAT IS STIPEND?

Saddam lieutenant calls for Baath Party insurgents to stop fighting
By STEVEN R. HURST and QASSIM ABDUL-ZAHRA

The Associated Press

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ASSOCIATED PRESS

Former Iraqi President Saddam Hussein asks for forgiveness in court Tuesday in Baghdad, Iraq.


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 Sunday to hang for crimes against humanity. The four answered questions 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.

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 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.

Iran urged Iraq to disregard calls for clemency and hang the ousted president, saying Saddam's "very existence is anti-human."

The Iraqi government officials also said 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 its forces had detected a decline in insurgent attacks by fighters loyal to Saddam.

Despite fears of a surge in attacks by Iraq's Sunnis and renewed revenge killings after 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.

The Seattle Times: Nation & World: Saddam lieutenant calls for Baath Party insurgents to stop fighting

Originally Posted by Christmas1971

WHAT IS STIPEND?

A stipend is a form of payment or salary, such as for an internship or apprenticeship. Stipends are usually lower than what would be expected as a permanent salary for similar work. This is because the stipend is complemented by other benefits such as instruction, work experience, food, accommodation, and personal satisfaction. Universities usually refer to money paid to graduate research assistants as a stipend, rather than as wages, to reflect complementary benefits.

A fixed and regular payment, such as a salary for services rendered or an allowance. Dictionary.com

Originally Posted by Christmas1971

WHAT IS STIPEND?

I was refering to the gift of 10,000 dinars that Iraq was supposed to have given to all of her citizens at the end of Ramadan....round about the 24 of October. It keeps getting delayed and many here speculate that that they will RV the currency at about the same time the 10,000 dinars are given out.

anybody know what the latest date for the distribution of the 10,000 dinar gifts/stipends is?

OSWoman

To all my RolClub family members who offered prayers and positive thoughts during the illness of my husbands daughter, Valeri. Valeri passed away yestereday morning and her battle with the cancer has ended. I know this is not the correct thread to convey such information, but I wanted to make sure the message reached all who were so encouraging to us.
Many thanks and may God bless each of you.
ccgideon

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Originally Posted by goldraker

OK, please explain to me how you would be able to do this!

The prices are the same except in dinars.Removed-neno. We have kids reading.

Example if a house or a factory in Iraq is worth 1 million USD. Then the property is priced at about 680,000,000 dinars. At this current rate and time.

If there is another way please explain!

Not that I know anything about how things function in Iraq... but this is how I interpreted Piper and Susie.

Today in Iraq:
Headline - Mom and Pop Ice Cream Parlor for sale. Cheap @ 5M Dinar
(at today's exchange rate, this equals to $3,400 USD)

Tomorrow (after reval):
Headline - Mom and Pop Ice Cream Parlor for sale. Cheap @ 5M Dinar
(at tomorrow's exchange rate of 1:1, this equals to $5,000,000 USD)

The Dinar asking price is the same regardless of exchange rate. The target buyer should be an Iraqi who's pocketbook should be irrelevent to the exchange rate.

Like I said, I may be totally off base.

Originally Posted by ccgideon

To all my RolClub family members who offered prayers and positive thoughts during the illness of my husbands daughter, Valeri. Valeri passed away yestereday morning and her battle with the cancer has ended. I know this is not the correct thread to convey such information, but I wanted to make sure the message reached all who were so encouraging to us.
Many thanks and may God bless each of you.
ccgideon

CC,

Please accept my heartfelt condolences and my prayers are with you and your family.