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

Originally Posted by kiko

They are only handling internation trading currencies from what I have understood.

I think and I am certain that they will do the whole package, selling, exchanging.

Got information from a BofA in Tulsa that they would be exchanging and verifying the authenticity on their premises. Said they have the necessary equipment to do so, therefore, it isn't necessary for the currency to be sent off somewhere.

Tensions, lower oil prices push Gulf stocks down


Seven stock markets in six Gulf states shed some 600 billion dollars of capitalization in severe correction.


By Omar Hasan - KUWAIT CITY

Regional political tensions, combined with a drop in oil prices and a lack of regulation, have pushed shaky Gulf stock markets further down since September, after a brief recovery, economists say.

"Gulf markets in general and the Saudi bourse in particular are negatively affected by the regional political situations, especially the Iranian nuclear standoff and the fighting in Iraq," said Ali Dakkak, head of Dakkak Financial and Economic Consultants.

"They are also psychologically affected by the drop in oil prices. In the Saudi market, a huge amount of cash was withdrawn by major portfolios and some mutual funds," Dakkak said.

The seven stock markets in the six oil-rich Gulf states have shed some 600 billion dollars of their capitalization since a severe correction began in September 2005 following some three years of strong rises.

The correction began in the Abu Dhabi and Dubai markets, extending to the remaining five bourses in February of this year.

It subsided in July. The bourses recovered some of their losses but then resumed the slide about two months ago.

The correction was more severe in OPEC kingpin Saudi Arabia -- which has the largest stock market in the Arab world -- as well as in Dubai, Abu Dhabi and Doha, most of which have already lost more than half of their values.

Markets in Kuwait and Bahrain were less affected while, the Muscat Securities Market was the only one to make slight gains following initial losses.

"The current slide is not abnormal. It represents the aftershocks of the major correction. Investors are still afraid and tense that another correction may happen," said Jassem al-Saadoun, head of Al-Shall Economic Consultants.

"But I don't expect it to go that far. It will be short-lived. It also represents a good opportunity for the markets to identify good companies from the bad ones."

So far, the seven markets have shed 390 billion dollars of their value since the start of the year. The drop is much larger if compared to the peak values of the individual bourses.

The Saudi Tadawul All-Shares Index (TASI), which set an all-time high of 20,634 points on February 25, is currently trading at around 8,600 points. That is its lowest level since February 2005, a loss of 48 percent since the start of the year and 58 percent from its peak.

The giant market's value, which reached 800 billion dollars in February, has since dropped 450 billion dollars, and is more than 300 billion dollars below its value at the end of last year.

The United Arab Emirates (UAE) bourses of Abu Dhabi and Dubai have also been severely affected, together shedding more than 100 billion dollars since the correction began late last year.

Abu Dhabi Securities Market Index is currently trading at around 3,200 points, its lowest level in 20 months, down about 40 percent from the end of last year and 50 percent from its peak recorded in August last year.

Dubai Financial Market Index lost 63 percent since the start of the year and 71 percent from its all-time high of 1,302.95 points. It is currently trading at 378 points, a two-year low.

Doha Securities Market Index has dropped below the 7,000-point barrier for the first time since December 2004. It is now 38 percent below where it stood at the end of last year, 11,053 points, and 47 percent under its peak close of 12,800 points.

The Doha market currently has a capitalization of 62 billion dollars, down 42 billion from its peak.

Kuwait Stock Exchange Index has withstood strong pressure to remain near its 2005 close. It is now at around 10,400 points, down just eight percent from last year and 14 percent from its peak of 12,054 points.

Its capitalization remained almost unchanged mainly because of the listing of about 20 new companies.

Bahrain stock market is just 0.6 percent below its 2005 close.

Muscat Securities Market is the only Gulf market in the black. Its index is currently trading 15 percent above last year's close.

Saadoun said "lack of investor experience and sufficient legislation" are also contributing to the slide of mainly "weak" companies, but strong firms are still performing well.

Middle East Online

Maybe we should be glad that the ISX isn't open to the world yet....

Originally Posted by boomcreek

Got information from a BofA in Tulsa that they would be exchanging and verifying the authenticity on their premises. Said they have the necessary equipment to do so, therefore, it isn't necessary for the currency to be sent off somewhere.

Did they say when???

Originally Posted by Adster

Get in there the Japs!


Main > Japan to stick to Iraq policy, U.S. realignment plan TOKYO, Nov. 9, SPA--Japan remains committed to assisting in Iraq's reconstruction and implementing a plan to realign the U. S. military presence in Japan despite U. S. Secretary of Defense Donald Rumsfeld's resignation, Tokyo's top spokesman said Thursday, according to Kyodo.
Similarly, Prime Minister Shinzo Abe told reporters separately that bilateral relations will not be affected, saying, ''The Japan-U.S. alliance from now on will remain firmly in place.''
''I believe there will be various kinds of debate in the United States (on the Iraq issue) from now on,'' Chief Cabinet Secretary Yasuhisa Shiozaki said.

''But regarding Japan's decisions, we are carrying out reconstruction assistance for Iraq based on policies we decided on independently from the viewpoint of our national interest,'' Shiozaki said.

''This basic stance will not change.''

Hey Adam! Long time no see. I keep getting sent on work sites that keep me what feels like a million miles from the lifeline. It is still possible on this planet to not be able to get on line! amazing. I'm sorry I missed the batch of interesting posts that must have come after that wild election day here in the States. I bet it just sizzled. My question is, do you think that the big political spanking is going to have any effect on dinar events, pro or con? It's weird to be so out of touch, but I'm home for a few days and would value your opinion.
blessings

Originally Posted by Adster

From elsewhere:

OK, I am not really into rumors but this one caught my eye. I was bored yesterday so I decided to contact my local BoA branch. I asked to speak with the manager but was told she was unavailable but she can call me back. Was I agreed to have her call me back I decided to ask the employee about the IQD (I did not mention the word "Iraq"). I asked if she was aware if BoA is or will be trading it. The employee stated that she has heard about IQD around the bank, but is unable to find any information in her computer. I that point I thanked the employee and ended the call. About 30 mins later, I received a call from the BM. I asked the same question. The BM, "chuckled" and said that has multiple account holders and investors are asking the same question. She then stated "I have heard about the IQD and the possibilities of selling and buying via BoA, but at this point I can't give you a confirmation". I also asked the BM if she would be able to call me ones she does, she agreed.

What I got from this call does not confirm this rumor, but it does confirm that BoA is talking about it. For me this is a nice surprise as I asked the same questions a month ago inside the branch and got the "look" (WTF are you talking about?!)

As this thing ( rv) gets stretched out, it is not going to be much of an unknown investment option anymore. With EBAY and Forums like this reaching worlwide exposure and now many people contacting the banks, I can see where a lot more investors jump on this.

I am still concerned with all the different explanations or lack of from the banks, especially various spills from tellers or managers from the same main bank organization. Hope I am not worrying about this too much!

Originally Posted by panhead

SEMPER FI Tigger!

and a big ooooraahhhh ta boot! Happy birthday Marines!!! and happy birthday to you to sgs!!! thanks for all the info you put into all of this we all appreciate you very much!!! woot!!! lol

Advn Financial shows iqd at 1465.2, shows last traded at, and shows time traded at (08:36:03
go to site, it's never shown traded before and never shown time traded before



ADVFN - Monitor

Originally Posted by Adster

LMAO, read this! I emailed the Gazette and asked....

Hi there, with the recent passing of the FIL just wondering why it was not included in the latest edition of the Gazette?

Do you know when it will appear in there?

Thanks.

And the reply....

DEAR MR

what do you mean by FIL plz what do you want

Didja write back saying we want a REVAL for petes sake!!! lol

The formation of a committee headed by al-Maliki reconstruction goat military Imams (p)
The Cabinet approved the formation of a committee headed by Prime Minister Nuri al-Maliki reconstruction goat military Imams (p) and the development of the city of Samarra. A spokesman for the government to Skinner in a press statement, "The Committee will include the Ministries of Defense, Interior, Planning and Housing, Municipalities and Aloaqvin Shiite and Sunni city of Samarra, the District." He added : "The Board also agreed to form a committee for the reconstruction of mosques and Hussainiyat affected by the violence."

(8:10 Baghdad time) NOW THAT'S FUNNY, I DON'T CARE WHO YOU ARE, THAT'S FUNNY! Talk about something getting lost in the translation.

Originally Posted by ourhouse37

Hey Adam! Long time no see. I keep getting sent on work sites that keep me what feels like a million miles from the lifeline. It is still possible on this planet to not be able to get on line! amazing. I'm sorry I missed the batch of interesting posts that must have come after that wild election day here in the States. I bet it just sizzled. My question is, do you think that the big political spanking is going to have any effect on dinar events, pro or con? It's weird to be so out of touch, but I'm home for a few days and would value your opinion.
blessings

kristin,

Good to hear from you, not been around much either but been following the election results.

No I don't think in the short term the Dems winning will have much of an effect. I believe it's now in the hands of Iraq to r/v. The Dems will phase out troops in time but the r/v should have long come and gone before that happens.