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

Originally Posted by shotgunsusie

remember that the rumor came from stephanie at iif who is infamous for leakin false information to make fun of those who adhere to it. not one other confirmation to remotely believe it for me. sorry.

I wasn't banking on this rumor until you said a reliable source that confirmed it to you in PM, did you find out different?

Kiko,

Thanks, that was a good post about the distribution of the 10K gift. It helps to add credibility to the potential that they are actually going to do it sometime in the near future. Hopefully this coming week will be a turning point for the country and for all dinar holders. Thanks.

Originally Posted by Jola

Socata,

Yesterday I called the CHase bank that I use to get dinars. They said " Come in, no problem. "

I don't think the banks will stop selling/buying though. JMO

I bought more Dinar yesterday at Chase in Tomball, Texas. They took my order and money and said it would be in on Friday. They also told me that almost everyone working at the bank owns dinar now!

D.

Originally Posted by Wm.Knowles

There seems to be a disagreement over what the auction results mean. As I see it there are two options.

#1 They are buying dinars and placing USDs in the local banks. This reduces the amount of dinar in the economy and if I read the numbers right, they have bought close to 340B USD of dinar in the last four auctions. A very large amount.

#2 They are buying dollars and placing an additional large amount of dinar into the economy.

Option #1 is my choice. This is consistent with reducing inflation and since they have large currency reserves and oil income, they are reducing the quanity of money in the economy that is consistent with inflation being too much money chasing too few goods. Quantity money theory has been around since the 1970s and was advocated by Milton Friedman the economist as a result of the double digit inflationary period in the US in the 1970s. If they were following option #2, then they would be flooding the economy with dinar, and to keep this policy up they would reduce the value of the money and eventually it would be worthless (even more than now). Placing USDs in the local banks is consistent with an eventual RV. It anticipates local demand for USDs if the currency RVs, reduces the quantity of money in the economy and maybe is the first step towards removing the large denominations from the economy. "Printing money" is a sure sign of an impending economic disaster. I think when the IMF stated that monetary controls needed to be in place was talking about this very issue. Reducing the amount of money in circulation is just like a company using its profits and buying its stock back to decrease the amount of stock in circulation resulting in a higher value for the stock in circulation. Buying dinars is also consistent with a slowly rising exchange rate. If they were flooding the economy with dinars, you would expect the exchange rate to move the other direction. So I am optimistic.

Man....Knowles, I wished you had been my economics instructor in college. You have a way of making everything seem so much clearer. Thanks for you analysis! I do believe you are on the right track, which means, somewhere down the road you should run right into a stack of dinar worth at least its equivalent in U.S. dollars. Thanks again!

Again these numbers don´t lie (from the newspapers).

15. Conference
The first page
1-d. Chalabi outlines to save Iraq from the brink.
2 - (3500) dollars per beneficiary of a plot of land.
3-(42%) the rate of poverty and five million Iraqis living between poverty and unemployment.
4-coalition and the coalition of Kurdistan and make it a formal proposal to hold early elections.

Translated version of http://www.iraqipresidency.net/news_detial.php?language=arabic&id=3480&type=news

That is 60% of the population, which will increase by doing nothing which is a catastrophe with the coming winter.

RV THAT DINAR!!!

Originally Posted by CharmedPiper

I will throw my opinion on this out there but maybe someone more knowledgable can answer for you. Actually I believe the revaluation has to happen first so the 10K is worth it's full value and not just $7 USD. I look for a revaluation anyday between now and Sunday, especially since the investment law should automatically be enacted in the next 1-2 days if I am understanding it correctly. I have thought about this 10K distribution....if they had no intention of distributing it with a revaluation then why would they have not just given it out and been done with it....obviously 10K undervalued would not cause any kind of shortage of funds or anticipation of theft etc. for the most part...with Iraq I never say never. I guess what I am saying is if they intended to give it out at a worthless rate then what would be the big deal it could have been passed out already. Also I have been watching the CBI numbers and in my siggy below there is a link that I have been keeping the last 4 days worth of CBI numbers in sequence so we hopefully can spot a trend or something to speculate on. I really believe we are at the point of revaluation....I am searching for any indication that the foreign investment law has been enacted since it was adopted 10/10/06 if my dates are correct. This is just my theory and hopefully those with more insight can shed some light on all of this.

This line speaks volumes!!

Originally Posted by Socata 850

After reading many many posts about upcoming dates and events, is it safe to say that the 10K distribution will not happen within the next few days? Without the distribution there does not seem IMO to be any rush to reval the dinar am I correct in my thoughts? It seems Maliki is enjoying his position so much that there doesn't seem to be any real reason to change the status quo in the near future. SGS can you help by giving your insight and opinion to these two issues. Thank you

It's the same way with nearly all politicians...they get so caught up in what is going on in their little circle that they forget what it was they came there to do.

Funny how they call it a "grant". A grant is usually a large amount of money that doesn't have to be paid back. If it was a mere $6, that would be a "gift", or one might call it an "insult", or "joke", and prolly wouldn't even be news worthy.

Originally Posted by CharmedPiper

YOU ARE AWESOME....WAY TO GO KIKO!

2006 / 11 / 01

Trade : the distribution of grant holiday next week Baghdad-Khayoun Ahmad Saleh The farmer Abdul Sudanese Minister of Trade to grant the Feast of 10 thousand dinars for each citizen will be distributed through government and private banks, beginning next week, for three months ending on the last day of the month of January. He said in a press conference held in the office of the ministry yesterday and attended by (time) that the banks will exchange the grant is the Rafidain and Rashid banks and the civil and in accordance with the mechanism itself, which was done in exchange for permits countervailing provisions) he (the term of non-renewable). And that amounts to be distributed are 300 billion dinars, the equivalent of $ 200 million), indicating (that the ministry was currently studying the issue of the distribution of the components of the ration card as income level), he said (that accurate information about the level of income is not available in the ministry and in my opinion it does not overshadow the one-time and distributed once a stay of a to enter the Supreme The owners of some items they have incomes low-lying portion of the favorite) and on the question of children's toys instead of a culture of violence, which he said (that the ministry is drawing strong controls on that and the control of incoming materials to Iraq and knowledge of the quality and validity of consumption, we are in this area is making arrangements and measurements general internationally agreed upon agreement with the Ministries of Planning and Finance (customs), and is currently preparing general arrangements which prevent the arrival of the goods harmful to the community, including the toys that reflect the culture of violence in this country, one of the remnants of the former regime because of this culture must be wiped from the minds of this community and was changing prevail w Gafh peace and live with other private and no games, which develop the skills of children and child Kabliath directed towards building and in this regard also now cooperating with all government bodies and security agencies to prevent the entry of these games which affect the behavior of children. Azzaman International Newspaper-2536-Issue Date 02 / 11 / 2006 Newspaper (Azzaman) - The International 6253-the date 2 / 11 / 2006 AZQ01

Originally Posted by Treater

Funny how they call it a "grant". A grant is usually a large amount of money that doesn't have to be paid back. If it was a mere $6, that would be a "gift", or one might call it an "insult", or "joke", and prolly wouldn't even be news worthy.

Exactly. Look what stated in the newspapers of today:

12. Baghdad
The first page
1-d. Allawi is keen to involve the Arab and regional levels in finding solutions to the problem of the deterioration of the security situation in Iraq ... Iraqis pin hopes it.
2-Abdullah II warns of leaving Iraq to "chaos".
3-Khalilzad : keep in Iraq.
4-Alandbandt British : Iraqis face the social and psychological disaster by chronic violence.

The inner pages
One-food aid from the Iraqi National Accord Movement to families displaced
2-martyrdom (160) professor since 2003.

They start to think like the Rolclub.
Now I hope that they also think like us regarding the RV.

09 November 2006 (AME Info FZ LLC)

Omar Finance and Investment Company (OFIC), a public Iraqi company, announced that it has entered into a strategic advisory agreement with the Erbil-based Nasri Group to reorganize and fund the financial aspects of the Nasri Group's current business requirements in Iraq and its future initiatives.

Walid Al-Omar, chairman of OFIC, and Nizar Hanna Nasri, chairman of the Nasri Group, signed the agreement on July 6, 2006 on behalf of their respective companies.

The Nasri Group's (Nasri Group of Companies) diverse holdings are spread across the globe and throughout Iraq, extending from Dhouk in Iraqi Kurdistan to Basra. The Nasri Group is primarily engaged in the development of new and existing 4- and 5-star hotels (Sheraton Hotels under negotiations), the manufacture of construction materials, soft drink production plants (Pepsi-Cola), cigarette manufacturing and distribution, banking, trading, city center developments and residential complexes - among other projects.

For example, the Nasri Group is developing the Sheikhala project, a substantial Erbil commercial city center similar to the Solidere developed by Hariri in Beirut, a Pepsi-Cola bottling plant - under license - in Kurdistan, and Dream City in Erbil - a 4,000-unit residential complex.

The Nasri Group also has development plans in place in the petroleum, cement, transportation and shipping industries.

OFIC has begun setting up offices in Erbil and establishing the required public companies in Iraq, as well as approaching banks and its strategic investment partners.

Public Iraqi Investment Company, OFIC, strikes advisory agreement with the Nasri Group, covering a portfolio of USD2.5 billion | Iraq Updates