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

Originally Posted by donald1439

He is just giveing his oppinion like everyone else,take it or leave it

Yes, and lets continue please.

Originally Posted by billknows

The educated elite don't give opinions - they have THE ANSWERS! Between you and me - it turns my stomach!

Personally, I remain highly optimistic

Ok you have given yours too. Lets move on with the News. Thank You.

Have all read the first post of this "Thread" and signed it that or resent New Rolclub Members? If not lets do that now PLEASE.

Originally Posted by donald1439

And the N.S. A.(dont forget the wire tappers)

I guess I'm not that paranoid....still going with just Dr al-Shibibi at this point in time.

In regards to a "low" initial reval to shake out the overseas speculators. The entire idea is based on the premise that every Dinar that a private U.S. citizen exchanges will be immediately returned to the CBI in expected return for a/an insert currency here . I for one don't see this being the case, try to imagine Chase shipping boat loads(literally) of dinar to Iraq. It's not feasible.

To all of our Ompus / FreeDinar Members,

As many of you know we haven’t bought any Dinar since we stopped our sales. That was on October 17th, so other than rumors of Dinar being harder for other dealers to get we really didn’t have any first hand knowledge. However over the last few days we have found that the cost of Dinar has risen and has become harder to get.

The question you have to ask yourself is why? The answer is what we have been waiting for. The Dinar revaluation is upon us! But don’t take our word for it; take a look for yourself…

On November 13th, the Central Bank of Iraq issued a statement regarding increasing the value of the Dinar. An official source with the CBI said, “…the Iraqi Central Bank will adopt a tight monetary policy…aimed at reducing the inflation base through improved exchange rate of the Iraqi dinar and raise the purchasing power of the Iraqi dinar and make cash more attractive means…” You can read the full article HERE.

We have also noticed a trend at the Central Bank of Iraq that goes hand-in-hand with a revaluation. Since November 1st of this year the Central Bank of Iraq has bought back Iraqi Dinar from their local banks at a tune of over $720 Million Dollars! That’s over 1 Trillion Iraqi Dinar (1,055,373,700 to be exact). This means that they have taken a large chunk of their currency out of circulation. They have also been improving the exchange rate from 1470 Dinars to the Dollar to 1454 as of yesterday. LINK

Why would they do this? Well if you were the Central Bank of Iraq, which is operated similar to the United States Treasury, and you knew that your currency was about to increase in value, for whatever reason, you would want to pull as much out of circulation as possible before it cost you more. This is one of the reasons we believe that we have seen this dramatic move from the CBI. We also know from the statement by the CBI, that they have tried all other means to combat inflation, and that they are going to improve the exchange rate.

However, does a move from 1470 to 1454 do enough? Let’s look at this from an Iraqi’s point of view. Lets say a child’s pair of shoes in Iraq cost around $6.99 USD. At the old rate of 1470 that’s 10,275 Dinars. With the new rate of 1454, those shoes are now 10,163 Dinars. If you convert it the other way, it brings the shoes down to $6.91 for a total savings of 8 cents. Is that enough of an increase in the rate to combat inflation? No way…

We believe that this slight change in the exchange rate is just to attract the local banks to sell back their Dinar. At over $720 million bought by the CBI, the combined profit for the banks could be as high as 8 million dollars.



If the Dinar was going to increase, then why would the banks sell theirs back. Wouldn’t they stand to make much more than 8 million? The answer is that the local banks need US dollars for project funding. Most if not all of the reconstruction projects are paid in US dollars, not to mention ALL of their imports. Of course this will change once the Dinar becomes internationally traded.

One other thing to note, a recent article in an Iraqi paper alludes to the release of the lower denominations. This same article also states that the CBI has no plans to change the currency. Here is a snippet: “According to an official source at the Central Bank of Iraq…there is no intention at this time to change the Iraqi currency is expected that the issuance of new categories of transactions…” This is a rough Google translation, but when we hear, “new categories of transactions”, we think this is in regards to the lower denominations. You can read the article HERE.

Here are a few other links to news of interest..

Bush Meeting with Iraq Panel Offers Hope

Norway Finds Huge Amounts of Oil in Iraq!

CBI Officials Attend Advanced Training this Week

Dollar Demand Down at the CBI

And let’s not forget this important link in regards to Monday’s big trade meeting between Iraq and the European Union LINK

If you have any questions in regards to anything you read here, or any comments, please feel free to email us at [email protected] or [email protected] and we would be happy to answer them.

Thank you,
Corporate Team
Ompus / FreeDinar


Hey, Dan could you post your updates to the forum? I love the way you just pull it all together.

Originally Posted by crave681

er.... or maybe not EVERY word Wm. types is infallible gospel, to be chanted like a mantra to oneself in an attempt to lull oneself to sleep at nite? Maybe just this one time, (gasp! say it aint so!) he made a guess that wont prove correct?

Low rv will just draw in more big player speculation, negating the effect of trying to flush out the small fries (us). We've held on this long, and we'll continue till we see the numbers we like anyway.

Remain optimistic, just not emotionally involved.

Really good point. WM post some really good info that I for one look forward too. But as I have said for a long time and was stated again today, the political forces to some extent, and the black market to a great extent will help drive the amount of the r/v. They live in a different world than we do and we may not always understand the logic or reason, but there is always a method to the madness. So I say keep up all of the differing opinions coming and respect each others comments, but do not let emotions guide your thought process or responses. We need to deal in facts, and some of those facts come from someone else’s opinion that we put together with our own knowledge to form a basis.

Really appreciate the discussion.

Thanks

OSOK

This is just a thought but a country's exchange rate is proportional to its SDR exchange rate within the IMF. Using this, I calculated the value of the IQD using Iraq’s lowest SDR exchange rate (April 30, 1995) and the current US SDR exchange rate. Here’s what I got:

USD (0.674029 SDR) / IQD (2.04504 SDR)
This equates to a rate of 0.32959 or $3.03

Just a thought.

2B

Originally Posted by billknows

The educated elite don't give opinions - they have THE ANSWERS! Between you and me - it turns my stomach!

Personally, I remain highly optimistic

not all wealthy and educated people are heartless skull and bones society control freaks.

there are some honest caring rich educated people in this world, just like there are honest caring "uneducated" low income people.

i see this investment as a great oppertunity to become educated, and wealthy, maybe not elite, cos i would like to see EVERYONE well off and happy.

well educated, because, that way, on my next investment venture, i will sleep better at night, my faith being backed up by sound rational knowledge.

its about syncing both hemispheres of the brain.

bill knows, i know how you feel. i used to HATE all rich people and HATE myself for being "poor", and if you are aware of the law of attraction, as in the movie "the secret", this only causes more of the same!

our choices, beliefs and emotions define our experience.

knowles is just trying to get us to think for ourselves.... to explore the possibilities. same as one would when playing a game of chess (or war/business) for instance. thats a positive thing.

give a man a fish, he'll eat for a day. teach him to fish, and he'll never go hungry.

Originally Posted by 2bmoore

This is just a thought but a countries exchange rate is proportional to its SDR exchange rate within the IMF. Using this, I calculated the value of the IQD using Iraq’s lowest SDR exchange rate (April 30, 1995) and the current US SDR exchange rate. Here’s what I got:

USD (0.674029 SDR) / IQD (2.04504 SDR)
This equates to a rate of 0.32959 or $3.03

Just a thought.

2B

I like your calculations and would not be surprised in the least if this amount is the beginning.

Iraq govt orders arrest of top Sunni cleric By Alastair Macdonald
1 hour, 27 minutes ago



Iraq's Shi'ite-led government ordered the arrest of the country's most prominent Sunni cleric on Thursday on suspicion of terrorism, a move that could further raise sectarian tension amid a rash of kidnappings and killings.

A warrant under anti-terrorism laws was issued for Harith al-Dari, head of the Muslim Clerics Association and an outspoken defender of the once dominant Sunni minority's interests, Interior Minister Jawad al-Bolani told state television.

He said he would seek foreign help to arrest Dari, who is in Jordan, a Sunni-ruled neighbor unlikely to hand him over.

"This is the government's policy against anyone who tries to foment division among Iraq's sects. The security services will pursue them," Bolani, a Shi'ite, said in a late-night interview.

He said it was the fruit of probes into militant groups. But government leaders were also incensed this week by comments Dari made on television that they said defended al Qaeda violence.

Dari dismissed the move as a "silly act" by a "bankrupt" government that would "bring down upon it the anger and curses of the Iraqi people." He told Reuters: "We see them doing such things to distract the Iraqi people from their crimes."

Many Sunnis, and increasingly anxious U.S. officials, say Prime Minister Nuri al-Maliki is failing to curb death squad violence by militias loyal to his fellow Shi'ites -- a charge compounded by a mass kidnap from a government ministry this week about which officials are still at odds on the fate of hostages.

There was no immediate comment from the United States. While frustrated by Dari's contempt for its occupation, it has seen his group as a potential partner in steering the disaffected minority, dominant under Saddam Hussein, away from insurgency.

With pressure mounting in the United States for 140,000 U.S. troops to be brought home, President George W. Bush is counting on Maliki to forge a national consensus in Iraq that can halt a slide into all-out civil war which could ignite the Middle East.

One prominent Sunni member of parliament, Alaa Mekki, said the move against Dari could hamper efforts to reach out to Sunnis: "This is a very wrong political decision," he told CNN.

Jordan, which has long rejected Iraqi arrest warrants for Saddam's daughter, is highly unlikely to extradite Dari.

His organization, formed after the U.S. invasion of 2003, groups many of Iraq's Sunni clerical scholars.

REGIONAL RELATIONS

Though often controversial, Dari has cultivated influential relations abroad. He was received last month in Mecca by King Abdullah of Saudi Arabia, one of several Sunni-ruled Arab states concerned about the rising influence of Shi'ites and Iran.

Iraq's ethnic Kurdish president, Jalal Talabani, who is a Sunni Muslim, said this week Dari promoted "sectarian sedition" with the support of Arab countries, which he did not name.

The move to arrest him came on a day on which dozens of apparently Shi'ite bus passengers were feared kidnapped at fake security checkpoints in Sunni west Baghdad and government officials argued over whether civil servants seized by suspected Shi'ite militiamen on Tuesday had been tortured and killed.

Six missing minibuses were mostly taking Shi'ites across mainly Sunni west Baghdad when gunmen, some in uniform, pulled them over for bogus security checks, police sources said.

Fifteen people were grabbed from a city centre cafe after dark, police said. Nine were gunned down at a bakery, some of the at least 50 reported deaths which underline how little control government and U.S. forces have over the capital.

Demands are growing in Washington to start bringing troops home, and Maliki and U.S. commanders face a race against time to build Iraqi security forces capable of stifling the sectarian strife that is pushing Iraq towards civil war.

Fissures are also opening in the six-month-old unity government. The Sunni minister whose employees were abducted on Tuesday is boycotting the cabinet until they are found.

"There is no effective government," Higher Education Minister Abd Dhiab told the BBC, complaining of "anarchy."

Despite repeated insistence from Maliki's government spokesman that nearly all Dhiab's staff were free and unharmed, the minister told Reuters about 70 were missing and some of the others had been tortured, and others killed.

"I can't believe I'm alive," one man freed told Reuters, describing the kidnappers as "very organized and taking orders."

Interior Minister Bolani said five senior police officers who had been detained may have been involved.
Print Story: Iraq govt orders arrest of top Sunni cleric on Yahoo! News

This just in, the Sunni's, Shiites and Kurds have decide to rochambeau each other to determine control of Iraq

Originally Posted by ozizoz

This just in, the Sunni's, Shiites and Kurds have decide to rochambeau each other to determine control of Iraq

What does rochambeau mean?