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

Originally Posted by doublescorpio

Does anybody know or have a link for the current amount of iraq dinar in circulation? AND...when was the last auction listing then showed them SELLING any dinar...I really think I am onto something here

Not sure where you would find out how much is in circulation but 4 to 7T has been kicked around.

The CBI SOLD 3,000,000US yesterday & the day before for a total of $6,000,000, not sure what the rate was, 1464 or 1465 I don't know.

Originally Posted by MOM2TWO

I see that there are 40 members "ON". May I please ask what are your thoughts...is it going to rv this weekend, this week, this year...five/ ten years...I would love to know your thoughts and why??? I am in a "downer mode" and would love to be uplifted....or feel validated???

Okay... i've been gone all day and tryin to get caught up reading before i told you what I did today.. but your post got to me before I could finish reading the rest.. being you're having a downer... I can't wait anymore to tell you this..
I was on the road today..I dropped by a B of A in a area that has 5-6 language choices on their atm machine thinking well this is a hodge podge of people neighborhood..maybe they would know something that my branch doesnt know..
So I asked for the Branch manager and asked her if she could confirm a rumor that I've heard.. that my branch knows nothing about... "I've heard that on Mon. Nov. 13 B of A will be exchanging the Iraq dinar.. is this true?" She said...
"well I don't know yet.." I asked.. have you heard about it being a possibility?
Her answer was ... " oh yes... we've been talking about it all week.. its been yes than no, yes and no.. and now we are waiting for Mon. morning.. if it is "yes" we will get a fax notifying us".. I tried to controll myself but didn't do that too well.. laughing almost nutty...
I said "so at least you don't think I'm crazy to be asking... so just to make sure I understand you well... in order for B of A to deal with it IF you are told
to do so on Mon. it has to be traded internationally right?"she looked at me like I was crazy now and said " Of course!"
As far as I'm concerned it is no longer a unconfirmed rumor... it is a confirmed rumor!
It made my day and put Nov. 13 on my calender!! I asked if she thought any of this weeks events are contributing to the yes/no situation... said she
didn't know and was laughing by then..! Mon2two hope this picks you up
cause thats how I was feeling til this happened... so come on Mon.!!! Lets hope final line is "yes"!!! ez :)

Originally Posted by ezcash

Okay... i've been gone all day and tryin to get caught up reading before i told you what I did today.. but your post got to me before I could finish reading the rest.. being you're having a downer... I can't wait anymore to tell you this..
I was on the road today..I dropped by a B of A in a area that has 5-6 language choices on their atm machine thinking well this is a hodge podge of people neighborhood..maybe they would know something that my branch doesnt know..
So I asked for the Branch manager and asked her if she could confirm a rumor that I've heard.. that my branch knows nothing about... "I've heard that on Mon. Nov. 13 B of A will be exchanging the Iraq dinar.. is this true?" She said...
"well I don't know yet.." I asked.. have you heard about it being a possibility?
Her answer was ... " oh yes... we've been talking about it all week.. its been yes than no, yes and no.. and now we are waiting for Mon. morning.. if it is "yes" we will get a fax notifying us".. I tried to controll myself but didn't do that too well.. laughing almost nutty...
I said "so at least you don't think I'm crazy to be asking... so just to make sure I understand you well... in order for B of A to deal with it IF you are told
to do so on Mon. it has to be traded internationally right?"she looked at me like I was crazy now and said " Of course!"
As far as I'm concerned it is no longer a unconfirmed rumor... it is a confirmed rumor!
It made my day and put Nov. 13 on my calender!! I asked if she thought any of this weeks events are contributing to the yes/no situation... said she
didn't know and was laughing by then..! Mon2two hope this picks you up
cause thats how I was feeling til this happened... so come on Mon.!!! Lets hope final line is "yes"!!! ez :)

It can still be "traded internationally" without an RV

Originally Posted by michaeljordan

It can still be "traded internationally" without an RV

Sorry I mis understood your comment ... thought you said "couldn't" be traded without a RV..
It was my understanding it has to be rv'd to trade international... am I mistaken??

Originally Posted by ezcash

Sorry I mis understood your comment ... thought you said "couldn't" be traded without a RV..
It was my understanding it has to be rv'd to trade international... am I mistaken??

As long as there is an exchange rate, any bank in the world can choose to deal in the foreign currencies of their choice. Therefore, it would be considered traded internationally. Make sense?

Originally Posted by michaeljordan

It can still be "traded internationally" without an RV

TROLLLLLLL NENO HE NEEDS A ROLCLUB SLAP PLEASE - we ONLY do positive HERE !!!! And new to boot too!!!!!!!!

Originally Posted by ezcash

Okay... i've been gone all day and tryin to get caught up reading before i told you what I did today.. but your post got to me before I could finish reading the rest.. being you're having a downer... I can't wait anymore to tell you this..
I was on the road today..I dropped by a B of A in a area that has 5-6 language choices on their atm machine thinking well this is a hodge podge of people neighborhood..maybe they would know something that my branch doesnt know..
So I asked for the Branch manager and asked her if she could confirm a rumor that I've heard.. that my branch knows nothing about... "I've heard that on Mon. Nov. 13 B of A will be exchanging the Iraq dinar.. is this true?" She said...
"well I don't know yet.." I asked.. have you heard about it being a possibility?
Her answer was ... " oh yes... we've been talking about it all week.. its been yes than no, yes and no.. and now we are waiting for Mon. morning.. if it is "yes" we will get a fax notifying us".. I tried to controll myself but didn't do that too well.. laughing almost nutty...
I said "so at least you don't think I'm crazy to be asking... so just to make sure I understand you well... in order for B of A to deal with it IF you are told
to do so on Mon. it has to be traded internationally right?"she looked at me like I was crazy now and said " Of course!"
As far as I'm concerned it is no longer a unconfirmed rumor... it is a confirmed rumor!
It made my day and put Nov. 13 on my calender!! I asked if she thought any of this weeks events are contributing to the yes/no situation... said she
didn't know and was laughing by then..! Mon2two hope this picks you up
cause thats how I was feeling til this happened... so come on Mon.!!! Lets hope final line is "yes"!!! ez :)

That is great news!! Thanks....

Originally Posted by michaeljordan

As long as there is an exchange rate, any bank in the world can choose to deal in the foreign currencies of their choice. Therefore, it would be considered traded internationally. Make sense?

Based on the rumor that first surfaced regarding Nov.13.. I understood it to mean that on this date it would have a increase value to trade internationally and thats why prior to this they did not deal direct with their customers... in my mind.. thats why we were trying to find out if it could be confirmed or not.. So when I asked her if they did deal with it Mon. that would mean it would have a increased value.. maybe I haven't understood this right.....but regardless it proved to me that it was not just a rumor that B of A is contemplating something on Mon.. and according to the branch manager.. the answer is still out.. and I'm still happy! :)

Originally Posted by worf

How can you build a 4 star hotel for 600 thousand dollars and have it completed in the middle of next year?

worf

This does not mean that at all. It says here: 'the government of Kurdistan allocated (600) thousand dollars to implement it.

09 November 2006 (Iraq Directory)
Kurdistan

Government of Kurdistan allocates 600 thousand dollars for establishing a hotel in Halabcha
The District Commissioner of Halabcha stated, last Monday, that a four-star hotel is being initiated in the city and the government of Kurdistan allocated (600) thousand dollars to implement it.
The District Commissioner, Fu'ad Salih Ridha, said that the hotel "will be built at the entrance of the city, on an area of five thousand square meters". He anticipated the completion of the hotel in the middle of next year.
However, many of the people at Halabcha demonstrated, in the middle of this year, against the bad vital services in the judiciary (83 km south-east of Sulaymaniyah) which was exposed to chemical bombardment by the previous regime in (1988), and thousands of people were killed according to the Kurdish statistics.

Government of Kurdistan allocates 600 thousand dollars for establishing a hotel in Halabcha | Iraq Updates

International Advisory and Monitoring Board on the Development Fund for Iraq
Press Release
November 6, 2006
Statement by the International Advisory and Monitoring Board on the Development Fund for Iraq

The International Advisory and Monitoring Board (IAMB) on the Development Fund for Iraq (DFI) met in Paris on October 30-31, 2006 and issued the following statement:

"The IAMB met to continue its oversight role over the use of resources of the DFI, which is the principal repository for Iraq's oil-export receipts, and continued to oversee audits of the DFI in line with its mandate under UN Security Council Resolution 1637. The IAMB (i) received and discussed the follow-up special audit reports of the single sourced contracts using DFI resources; (ii) discussed the results of the external auditor’s review of the interim DFI financial statement; and (iii) considered the progress in establishing an Iraqi oversight body to succeed the IAMB.

"Each of the external audit firms, Crowe Chizek and KPMG, reported on the findings of the follow-up special audits of sole sourced contracts. The IAMB had previously announced its concern about the use of non‑competitive contracting using DFI resources. The special audits were undertaken at the request of the IAMB and commissioned by the U.S. Government. The purpose of these audits were to (i) review the settlement between Kellogg, Brown and Root (KBR) and the U.S. Government, and (ii) further review the other sole-sourced contracts using DFI resources. These special audits have now been completed, and final audit reports for both audits are available on the IAMB website (www.iamb.info).

"Crowe Chizek reported that in their opinion the settlements between KBR and the U.S. Army Corps of Engineers were reasonable. Their audit reviewed the findings of earlier audit reports by the Defense Contract Audit Agency (DCAA) and found that the conclusions reached by DCAA were supported by the underlying accounting and auditing records. The findings also provide additional information about the transportation costs incurred by KBR in providing humanitarian fuel supplies to Iraq in the period May 2003 to March 2004. These costs were very high, in some cases as much as 86 percent of the total contract costs. The IAMB continues to question the reasonableness of these costs and the adequacy of the administration of contracts.

"KPMG briefed the IAMB on the results of the follow-up audit of the other sole-sourced contracts. KPMG noted a total of $22.4 million in unresolved amounts relating to (i) no evidence of goods received, (ii) unreconciled payments, and (iii) a lack of corrective action on some previously reported exceptions.

"In view of these findings the IAMB recommends that the Iraqi Government seek resolution with the U.S. Government concerning the use of resources of the DFI which might be in contradiction with the UN Security Council Resolution 1483.

"The IAMB had earlier agreed that the 2006 audit of the DFI should cover the period January 1 to December 31, 2006 with an interim audit for the period from January 1, 2006 to June 30, 2006. The IAMB was presented with the draft interim financial statement reviewed by Ernst & Young together with updated observations covering Iraq's oil export sales and the DFI operations for the period from January 1, 2006 to June 30, 2006. A summary of the results of the Ernst & Young interim review is available on the IAMB website (www.iamb.info). While Ernst & Young’s review noted progress in the financial control system, the review continues to be critical of the financial and accounting control systems. The overall control system needs to be further improved to be sufficiently effective.

"The IAMB received useful briefings from the Representative of Iraq and the President of the Iraqi Board of Supreme Audit (BSA) on progress in implementing earlier IAMB recommendations. The IAMB welcomed the action the Government of Iraq is taking on the implementation of the IAMB recommendations, and continued to reiterate its concern that key actions, especially the installation of an oil metering system, needed to be comprehensive and were taking a long time to implement.

"The IAMB mandate expires on December 31, 2006 under United Nations Security Council Resolution 1637. The Representative of Iraq informed the IAMB that the Iraqi Council of Ministers at its meeting on October 19, 2006 approved the establishment of an Iraqi oversight body, hereinafter referred to as the Committee of Financial Experts, to be chaired by the President of the BSA. The IAMB welcomes the establishment of the Committee of Financial Experts to continue the work of the IAMB upon its dissolution and encourages the continuation of independent oversight. Transparency in the collection, recording, investing and spending of oil revenues is of paramount importance in providing assurance that Iraqi oil resources are properly managed and spent.

"The final meeting of the IAMB is tentatively scheduled for December 11-12."