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

A statement issued by the public integrity

(Voice of Iraq) - 11-15-2006
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Referring to the press conference held by Sheikh Sabah Al Saeedy yesterday, day 14 / 11 / 2006 and our wishes, this unprecedented occasion to clarify the following :

1) that the integrity Aalameh, in a statement this, Atnoi to defend a particular person or persons, For this reason the track is constitutionally and it is that the affiliates Atzam above the level of error law or accountability.
But a strong advocate of a constitutional body representing one of the pillars of democratic constitutional order in Iraq. and that is truly the pride of the achievements of the new era and the image of bright fabric at the international level. based on the principle of the rule of law, The law as it applies to the general public also apply to the owners of power, authority and influence. It certainly defend the value achievements made in the process of sacrifices and martyrs. Martyrs integrity, and continuous effort and paused nights, all of this in an atmosphere of corruption and the stifling of blind terror and the threat and the lack of a sense of national and historical responsibility towards the public office.

2) managed, in record time, to seize the crimes of a group of mafiosi corruption pilfered billions of dollars of the money the Iraqi people was the direct cause of disruption of development efforts and to achieve the welfare of the Iraqi people and without a shred of conscience or ethics, all of this effort and the potential of personal initiative and technical potential is very limited for harmonize with the magnitude of the tasks entrusted to it, thus the effects of the appreciation and admiration was after consideration and objectivity in the evaluation, , resentment and hostility and retaliation from contaminated hands crimes of corruption.

3) that the declaration made by the sheik, accusing the integrity of corruption, in previous unconstitutional, Anazer to have international experience, Undoubtedly, the disposal is very dangerous not Tekdri'wakph advance to the security terms of timing and terms of the security issue and the results, where will at the local level to a loss of credibility in all their actions and investigations and judicial decisions reached by the perpetrators of corruption and those who would claim innocence were sentenced allegation (corruption of integrity) and will conduct its negative effects profound impact on the reputation of Iraq and the international institutions e constitutional, The message to the enemies of Iraq that the Iraqis have failed in everything, even in the fight against corruption, The fact of the matter is not that at all, as well as that will cause the destruction of bridges of trust that we have built with many international organizations counterpart, The existence of an independent regulatory body to fight corruption, one of the most important considerations are used by the donor countries and the World Bank to grant loans and grants, There is no doubt that this would disrupt our relationship with these bodies and trusts us, and perhaps we will need for a long time for the bridges of trust.

4) is not the responsibility of the integrity of ministers or leaders corrupt, This is the responsibility of the selected and nominated for these positions, Our responsibility is detected after selection, If the best choice for tomorrow corruption unlikely.

5) that the conduct sheik represents a clear violation of constitutional provisions, It did not take into account the actions stemming from those provisions in such cases, under the Constitution endorsed by the people and adopt safeguards to accuse senior officials of the House of Representatives before the embodiment of the principle of separation of powers came in the article (61) which was the first to commit to a virtue, Sheikh Constitution guarantees this, procedures, which were developed only for the wisdom Tgiaha constitutional legislator.

6) that the report referred to by the sheik is a report of the performance of financial control body for 2004, the year of founding body in the month of June 2004 and represents remarks reflect the viewpoint of financial control prepared in accordance with the prevailing standards without noting that the law had been referred to the independence of the body, which allow it to conduct without legal recourse to the Council of Ministers, This is independence, in reality, meaning, If our actions and our appointments, however, the Council of Ministers What is the meaning of independence referred to by the Constitution in Article (102) hereof, to ensure the independence to prevent any interference in the work of the body.

7) appeals to our rule of the president of the republic and the rule of the Speaker of the Parliament and the Prime Minister to intervene and order the respectable following contexts and procedures stipulated by the constitution in such cases, What Alalitabq found Constitution and may be violating any reason, It welcomes all our distinguished Maikrah the House, our legitimacy derives from the legitimacy granted by the Iraqi people and to take actions it deems appropriate in accordance with the Constitution and law, God is behind the intent.

The public integrity
In the 15 / 11 / 2006

Originally Posted by Adster

$5 drop again. Interesting, but remember guys sometime back in 2004 the dinar did drop to around 1350 as I remember. All good though and going in the right direction. The dollar is pushing the value of the dinar and that is why it's dropping, remember the dinar is still pegged to the dollar.

Still expecting a reval to be imminent. We're reading daily articles of increasing the exchange rate. They know they need to do it.

Am ready for the Dinar Cup and plenty of r and r in the Caymans, sure most of you are too after this rollercoaster ride!

its not a drop in the rate of the dinar against the dollar its a rise and at this rate it will take 14 months we calculate. lol

Originally Posted by shotgunsusie

its not a drop in the rate of the dinar against the dollar its a rise and at this rate it will take 14 months we calculate. lol

i sure hope so!

the next couple of weeks are going to be interesting.
Hopefully the rate will keep rising by 5 each day, i dont mind waiting 14 months if it takes away most of the uncertainty

Bring on the steady rise!!!

Originally Posted by shotgunsusie

its not a drop in the rate of the dinar against the dollar its a rise and at this rate it will take 14 months we calculate. lol

Yea Sus, it's a drop, ie from 1465, to 1460 to 1455 but yes it's going in the right direction for us and the dinar is getting stronger. We agree.

I believe we will see it drop considerably overnight when they're ready, and that will be our reval, also believe they are setting the new rate as we speak in high level meetings behind closed doors.

Hi

Could anyone give us an update with regard to the FIL and the $10,000 handout.Has it been published in the gazette yet, it is way over 30 days since it was passed and are these poor Iraqi people ever going to see this money, its continually put back WHY?

Originally Posted by Adster

Yea Sus, it's a drop, ie from 1465, to 1460 to 1455 but yes it's going in the right direction for us and the dinar is getting stronger. We agree.

I believe we will see it drop considerably overnight when they're ready, and that will be our reval, also believe they are setting the new rate as we speak in high level meetings behind closed doors.

i concur

Originally Posted by abbey56

Hi

Could anyone give us an update with regard to the FIL and the $10,000 handout.Has it been published in the gazette yet, it is way over 30 days since it was passed and are these poor Iraqi people ever going to see this money, its continually put back WHY?

after laws are passed by the parliament they go to the presidential council for application. thats tali and the boys and i suspect an embargo til they are damn good and ready to let us in on it.

Ref: CBI Auction

Hello everyone. I want to thank you for the many kind comments that I have received. Concerning today, we are continuing to see a confirmation of our position that the CBI is intervening in the economy in a dramatic way to reduce the base money supply and has adjusted the exchange rate to a level we have not seen, at least in a very long time. It seems they have removed an additional 65M USD or slightly less than another 100Billion in dinar from the economy. If my math is correct we are still approaching a Trillion dinar removal in a very short period of time.
There was a statement in the last SBA report from the IMF I think is worth repeating. "With the nominal exchange rate fixed, the real exchange rate is reflected in the rising domestic price level". The past exchange rate has beed an artificially imposed rate. Markets adjust to govern. interventions and they were saying that the low exchange rate (fixed) was/is responsible for the high inflation. By placing too much money into the base.

They also stated, "Broad aggreement was reached on budgetary prospects and priorties for 2006, as well as on the implementation of related measures. In addition, there was a consensus that action needed to be taken to tackle inflation, including through monetary tightening, and allowing the exchange rate to strengthen"
So, from what we have seen over the short course and what we expect in the near term is a continuation of monetary intervention to reduce the money supply and an continual increase in the exchange rate. Simply put. The CBI will continue to remove their targeted amount of dinar as cheaply as possible. (wouldn't you?) When that target is reached, better things WILL follow. We have one more auction this week, so lets watch what happens and then "Who Knows" what could happen over the weekend. It might be exciting!

Originally Posted by Adster

Yea Sus, it's a drop, ie from 1465, to 1460 to 1455 but yes it's going in the right direction for us and the dinar is getting stronger. We agree.

I believe we will see it drop considerably overnight when they're ready, and that will be our reval, also believe they are setting the new rate as we speak in high level meetings behind closed doors.

Originally Posted by shotgunsusie

i concur

I agree, and I don't believe it's gonna be a couple of weeks,
Remember the start trading with Eu Monday 20th.

Originally Posted by Wm.Knowles

Ref: CBI Auction

Hello everyone. I want to thank you for the many kind comments that I have received. Concerning today, we are continuing to see a confirmation of our position that the CBI is intervening in the economy in a dramatic way to reduce the base money supply and has adjusted the exchange rate to a level we have not seen, at least in a very long time. It seems they have removed an additional 65M USD or slightly less than another 100Billion in dinar from the economy. If my math is correct we are still approaching a Trillion dinar removal in a very short period of time.
There was a statement in the last SBA report from the IMF I think is worth repeating. "With the nominal exchange rate fixed, the real exchange rate is reflected in the rising domestic price level". The past exchange rate has beed an artificially imposed rate. Markets adjust to govern. interventions and they were saying that the low exchange rate (fixed) was/is responsible for the high inflation. By placing too much money into the base.

They also stated, "Broad aggreement was reached on budgetary prospects and priorties for 2006, as well as on the implementation of related measures. In addition, there was a consensus that action needed to be taken to tackle inflation, including through monetary tightening, and allowing the exchange rate to strengthen"
So, from what we have seen over the short course and what we expect in the near term is a continuation of monetary intervention to reduce the money supply and an continual increase in the exchange rate. Simply put. The CBI will continue to remove their targeted amount of dinar as cheaply as possible. (wouldn't you?) When that target is reached, better things WILL follow. We have one more auction this week, so lets watch what happens and then "Who Knows" what could happen over the weekend. It might be exciting!

I CONCUR!!