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

How in the world can a foreign currency be a scam? I do have one question to throw out to our "thinkers" though....what is the worst case outcome you feel possible with this speculation/investment?

Originally Posted by Webster

Is it not a wee bit too cold for that? You may have to come to Australia to do that! I can see the head lines now: 'Millionaire almost froze to death when he congered down the street naked, shouting something illegible'!
Eye witnesses claim that he shouted ‘shoot, shoot’ but others said that it was ‘woot, woot’ which does not make sense so it must have been ‘shoot, shoot’. He was arrested but no firearms were found on his person (OF COURSE NOT!). LOL!

Back then folks were worrying about a lopp but I always believed he meant three zeros off the rate instead.......

A dialogue-Yasser acting Secretary sanctuary
Minister of Finance (morning)

Under the draft National Reconciliation

June 29th 2006

Detection and Finance Minister Mr. Jabr Al statement revealed a profile of the direct economic programme lasting government which would be reflected in the 2007 budget. He was the first modern press after Astizarh Ministry of Finance : The budget will be the first quality they will be under a government elected durable.

The features of the new plan include the expansion of the tax base does not increase and the re-evaluation of property and real estate state and the sale of many of them and the Ministry intends to support and assist the citizen to allocate land plots housing is outside the boundaries of municipalities, according to the controls established in coordination with the Ministry of Municipalities.
Asked about how to expand the tax base and increase the non-citizen said : We have a list of businesses not covered by taxes and seek coverage as an example mobile-phone companies which reap billions of dollars annually for a handful of dinars have no value.
Taxes on businesses
He questioned the minister why does not impose taxes on these companies in Iraq at the time amounting to revenues Lebanon from taxes on companies mobile-phone worth $ 3 billion dollars annually, as well as in the case of Egypt, where obtain a value of $ 6 billion annually from taxes mobile-phone global and reiterated questioning why not do the Iraq example of these States?
He added. We have a long list of the companies covered by this tax to obtain funds to support the budget that source only oil sales, pointing out that 97% of the budget of Iraq depends on oil and this does not exist in any world economy, even in countries Gulf oil, the sources of funding for their budgets to multiple manufacturing and Els Naat other taxes.
On a question about the need for Iraq to the new laws and regulations to implement this programme and plan.
Al said : I believe that all of our laws gives us the power to move a window to implement the ambitious plan that have been established for the year 2007.
Q : But reform mechanisms required by the agreement with the International Monetary Fund have negative effects on the social level?
This question, the Minister of Finance said that the International Monetary Fund seeks as far as possible should not be balancing consumers money oil but sought to be Iraqi funds consumed in the investment volume of operating funds so that the consumption of oil funds strained budget and placed a burden on the citizen according to the minister's opinion, but the opinion that the size of the investment funds push Iraq towards development and progress of this vein, the policy of the International Monetary refuses to be budget-consuming, not only have no work investment.
Real support for the network of social protection
He said : I am at a meeting with the IMF noted that the Fund is supporting the fund a network of social protection, which we believe is important to continue to support and, accordingly put in the principles of the policy in 2007 to support and increase real support network of social welfare which are citizens below the poverty line, pointing out that the Ala Lakh document with the International Monetary Fund have enabled us to write off debts.
Support citizen
Al talked about the reform of the banking sector stressing perceptions Advance endure this sector of reluctance and failure in the banking operations, pointing out meeting with managers of banks, urging them to the need to establish a policy of recent banking clear sophisticated able to support citizen who suffers is the other weakness of the efficiency potential of the material.
He said that the future will activate and develop the performance and activity of the banks in the various sectors of commercial, industrial and real estate for a comprehensive study on the development of the Land Bank and supporting the Rafidain Bank in order to enable citizens to carry out projects that require advances because his salary limited to fill needs.
In the question of (morning) When you, Mr. Minister acknowledged the limited salaries of the citizens to see what Al is improving living staff?
The minister stressed that talk about the standard of living is Concerns He can not magically increase the salaries of staff Yakha inflation and a clog budget because any increase in amounts of money caused considerable damage to the budget in 2007.
But that Sathrk prepared to support the volume of investment funds that would help create hundreds of thousands of jobs armies of the unemployed during 2007.
He said : We will support a strong implementation of investment plans Territories, which amounted to 2 billion dollars Snzidha next year and I have heard and holistic satisfaction that some of the governorates where more than 30 projects, I believe that we must create new jobs and I am not with the creation of job opportunities through employment in the State, but through the private sector. The wages of the private sector becomes better than the public sector.
* Hadithk understanding of the context, the trend is towards a free economy, this is the general framework of the government's economic?
- Yes, he is also
And the direction of another, he said : I can solve problems payroll I know that some staff had been in the injustice of the hierarchy because of the different ministries applications such peace. Having outlined articles (morning), with and I will do my utmost to consolidate peace salaries but we need time to be consolidated.
Theme retirees
Asked about the law and retirement worries retirees
Zubaidi said that the law on the retirement of the Transitional National Assembly has already indicated that the Ministry of Finance transition gaps. I think that this subject has been long overdue and we are waiting for the termination of adding the first day began with the Ministry of Finance met with the Directorate General of retirement and asked to expedite the completion of instruction and study in this regard.
The minister pointed out that the IMF has raised some problems about the retirement law Vbacherna re-examine this law in order to overcome some of the gaps that have occurred that caused the injustice of some staff who provide substantial services to Iraq and the Iraqis.
He warned that the continued application of this law would constitute a significant burden on the state budget, explaining that the volume of funds that acted annually under this law more than 2 billion dollars annually, and that would be borne by the state budget if we add them 3 billion dollars to import derivatives of oil and $ 4 billion card ration so as to arrive Almbl G. to over 10 billion dollars, these funds constitute a financial burden as I mentioned, and then there is a pressing need to examine these matters ... This is what we call the IMF and agreed to re-examine the law to ensure the right of retiree pension and to ensure the right of the State alike.
{The following is the section that shows in Arabic at the bottom of the page you’ll have to copy and paste this portion and translate it separately if you wish to double check}

Turning Minister to the foreign debt of Iraq and $ 125 billion, indicating the completion of the write-off 80% of Iraq's debts in respect of Paris Club debts after resolving the issue of Russia, where we negotiate with, and debt relief and to resolve the matter by reducing the amount of 13 billion dollars to 800 million dollars. He explained that the remainder of the debt and the Paris Club of Egypt, China, Turkey, Poland, has been asked Ambassador in Paris negotiation. And debts between the Gulf Minister that he was subject to the Saudi Minister of Finance, Mr. Ibrahim Al Assaf during a visit to the kingdom, and it was agreed to send a high-level experts to study the issue of debt. And the expectation that the Gulf states Al sister Akram will be from the Paris Club to extinguish Iraq's debts in full. Activate insurers He called Al Iraqi press to reactivate its role in creating awareness of insurance companies and the activation of the national insurance all their activities. But the companies have withdrawn from the market due to the lack of coverage of the potential of major incidents in Iraq and recorded a failure to perform? The minister said : we activate the role of life insurance companies, money, cars, fires, accidents, He gave an example of the Minister fires Alcheorgh as traders believers got their money rewarding compensation and have demonstrated their awareness of the importance of some traders insurance. Therefore, we do insurance companies and their role in support of the citizens and the national economy, insurance civilizational phenomenon. Financial support of the draft National Reconciliation Asked (morning) on the role of the Ministry of Finance of the State of the initiative of the Prime Minister Maliki initiative of national reconciliation? Jabr Al statement said the Finance Minister. I'm initiative launched by the chairman of the Council of Ministers brother Maliki my personal belief of the bloodshed of Iraq and wish to re-Iraq united people and their land, and as Minister of Finance will spare no effort to support this initiative, both in the area of compensation approved by initiative victims or any paragraph came Balmb bulletin. 3 zeroes lifting of the Iraqi dinar In the morning, a question that the write-off of debts of Iraq will contribute to enhancing the value of the Iraqi dinar? Mr. Zubaidi said the statement. The value of the Iraqi dinar for monetary policy, such a policy is the responsibility of the Iraqi Central Bank, the Ministry of Finance is responsible for fiscal policy. He added, but suggested that Mr. Governor of the Central Bank Dr. Sinan Shabibi need to raise the value of the Iraqi dinar and return to normal through the lifting of three zeroes. Voadeni Mr. Governor well to hold an expanded meeting next month to study the proposal by experts in this area of the Iraqi Central Bank, Ministry of Finance and Commercial Bank, namely, the proposals to get the value of the Iraqi dinar equivalent of [to] the American dollar, this goal we will strive to achieve, God willing, during the four years Llahkom e due to the new Iraqi dinar healthy stand of the other currencies. Lastly Zubaidi corresponding reference to the International Monetary Fund to support the resolution Iraqi dinar remarkable considering that the Central Bank of Iraq financially cover $ 11 billion dollars to support the value of the Iraqi dinar and the cover is rarely found in the third world. Thereby taking morning two hours from the time the minister and exited the impression that the new plan will live up the economy of Iraq to the level of developed nations if we wrote them success and support by the government and parliament although gaps Retirement Law remained vague and needed to be clarified more and this will deal with in another meeting with Mr. Alos Ware

Originally Posted by ccgideon

How in the world can a foreign currency be a scam? I do have one question to throw out to our "thinkers" though....what is the worst case outcome you feel possible with this speculation/investment?

I believe that the worse case scenario in this investment, is that the dinar stays valued exactly where it is.

Since the value was artificially set by the CPA after the invasion, and has been shown to be artificially low based on the economic potential of the region, there is probably little chance of a further devaluation. This, even in the worse case scenario of civil war, barring a total political collapse.

Again, this is just a hypothetical. We know what is really gonna happen!

Originally Posted by ccgideon

How in the world can a foreign currency be a scam? I do have one question to throw out to our "thinkers" though....what is the worst case outcome you feel possible with this speculation/investment?

Worst case .34USD it has to be no worse than when they came in and IMO the level will be far higher but you asked so there it is. If democracy doesn't fatten the Middle East wallet then its a big loser....

Originally Posted by ronbo

Why can't it happen? Someone posted awhile back that only 20% of the Kuwait population actually work. The rest just live off the oil dividends which were stated to be around $40,000 a year. If Kuwait can do it, certainly Iraq can also IMO.

I'm moving to Kuwait, you go to school, after graduation, you never have to work a day in your life, nice !! how much is a one way ticket again?

Originally Posted by mike brown

I'm moving to Kuwait, you go to school, after graduation, you never have to work a day in your life, nice !! how much is a one way ticket again?

Been there, not impressed.....you can have it.

Originally Posted by Adster

Come on guys, this it?! The total amount of dinar investors wanting to party when this baby hits?! Disappointing to say the least. We've worked hard on this and deserve to celebrate when the time comes. We've shared something between us that can never be taken away and the r/v party is the time to unwind, be happy and celebrate our achievements and forge friendships in person we can carry on for the rest of our lives.

I'm discouraged in the current turn out.....makes you feel like your wasting your time bringing info here.

http://www.rolclub.com/iraqi-dinar-d...caymans-5.html

I think more people are coming than you think. Does anyone know if you need a passport coming from the states? I guess you can tell I'm just a country gal

Sorry Adster, ok count me in. Will book my ticket in the other thread.

Originally Posted by mustang sally

I think more people are coming than you think. Does anyone know if you need a passport coming from the states? I guess you can tell I'm just a country gal

I believe you will need one starting Jan.2007. Better go apply ASAP. I belive they changed it were you even need one to go to Mexico.