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

Well, It's making my day!

Keep it coming Adam!

Originally Posted by neno

Abster I know I am not busting anyones bubble here. But my banker from Wachovia has told me that they will exchange too. In the beginng they said they dont and I would have to go to the airport for that to be done. But I was in the bank a couple weeks ago before our trip out of town and the banker came upto me and said you know what we do too. Might be a couple days from this branch to get it done but we do do it.

Who's Abster?! LOL!!

No problem, I'm working on getting a list of banks etc that are currently selling and exchanging dinar, more out of interest than anything. No doubt when it pegs it will be convertible but I'm interested in how many are currently doing it.

Tiff, welcome!

Originally Posted by tiffany

Define "Heavy Dinar" please?

:-)
Tiff

A dinar that needs to go on a diet!
That is about 6 cents, right?
1:$.06

Originally Posted by tiffany

Define "Heavy Dinar" please?

:-)
Tiff

6 cents per dinar, ie $60k for a million dinars. That's what they're saying it would start at, but this was 3 years ago and all expectations have been met in a big way and exceeded. Saying that I'm sure most of us would offload some dinars if it started at this rate and sat on the rest waiting for it to go up....

I believe within reason the CBI can set the rate at what they like, they have to have it passed by parliament but that would just be a formality, and I also believe and have read posts where folk have said the paperwork has already been signed for a peg. That's not the reason I believe it, but I do believe it has been done from reading articles etc.

Said before, too low a peg and the country would be bought out overnight once the ISX opens. 1:1 for me. ;0)

I just got asked a question on whether the dinar has to hit the world market in order for ISX to function?


Well.....


It depends on whether the Iraqis want the ISX to be an exchange that is traded worldwide or solely in Iraq. If they want to keep the ISX closed to the world and only used by Iraqis for trading then the answer is no, dinar does not need to be convertible world wide. But think of the multitude of articles about Iraq that indicate they WANT foreign investment. Also consider the number of high level Iraqi officials that have said the same thing over and over. In true reality Iraq has to open up to the world to truely succeed. Think about it. Would Saudi Arabia, Kuwait, UAD, or Bahrain be as rich and successful as they are without world input? My best belief is the Iraqi's want and NEED foreign investment. They have stated many times they want the ISX electronically traded worldwide. Thus ultimately they must make the dinar a convertible currency. A small (or hopefully large) initial reval wouldn't hurt any either!!!


How many of the other countries you named have open to the world stock markets?



All three do above as do several other Middle Eastern countries. There's no way they could have the wealth they do without foreign investments. From what I understand Kuwait has one of the most important stock exchanges in the world, and look at their rate!

I just got asked a question on whether the dinar has to hit the world market in order for ISX to function?


Well.....


It depends on whether the Iraqis want the ISX to be an exchange that is traded worldwide or solely in Iraq. If they want to keep the ISX closed to the world and only used by Iraqis for trading then the answer is no, dinar does not need to be convertible world wide. But think of the multitude of articles about Iraq that indicate they WANT foreign investment. Also consider the number of high level Iraqi officials that have said the same thing over and over. In true reality Iraq has to open up to the world to truely succeed. Think about it. Would Saudi Arabia, Kuwait, UAD, or Bahrain be as rich and successful as they are without world input? My best belief is the Iraqi's want and NEED foreign investment. They have stated many times they want the ISX electronically traded worldwide. Thus ultimately they must make the dinar a convertible currency. A small (or hopefully large) initial reval wouldn't hurt any either!!!


How many of the other countries you named have open to the world stock markets?



All three do above as do several other Middle Eastern countries. There's no way they could have the wealth they do without foreign investments. From what I understand Kuwait has one of the most important stock exchanges in the world and look at their rate now!!!

We're so so close...

http://www.reliefweb.int/rw/rwb.nsf/...ent&RSS20=02-P

Iraq: World Bank approves grant for social protection

Press Release No:2006/451/MNA

WASHINGTON, June 9, 2006 – The World Bank, on June 3, 2006, signed a grant agreement with the Ministry of Labor and Social Affairs of the Republic of Iraq to help strengthen the country’s capacity to reform social safety net and pensions programs to better assist poor and vulnerable populations. The $8 million Emergency Social Protection Project is financed by a multi-donor Iraq Trust Fund administered by the World Bank.

"I am extremely pleased that the World Bank and the Ministry of Labor and Social Affairs have signed a new grant agreement only two weeks after the establishment of a new government,” remarked Joseph Saba, the Country Director for Iraq. “The World Bank’s main objectives in Iraq are to help the country alleviate poverty and make more efficient use of its own resources, and this project will do both.”

The project addresses the urgent need to improve Iraq’s social safety net and pension programs. Iraq’s current social safety net program is small and beset by inefficiencies. But the Government is expanding it now to benefit up to 1 million families at a cost of $330 million annually. A modern management and information system could improve targeting and reduce leakages, thereby increasing the benefits that reach the poor. The project also aims to improve Iraq’s capacity to develop a more equitable yet fiscally sustainable pension system. The Ministry of Labor and Social Affairs will implement the social safety net program component while the Ministry of Finance will implement the pension component.

"The project will help the Ministry of Labor and Social Affairs increase by six times the number of poor households that will receive social assistance. It also will help the government improve assistance to the elderly, another important vulnerable population," noted David Steel, the project’s Task Team Leader.

The World Bank Iraq Trust Fund, within the International Reconstruction Fund Facility for Iraq, has financed twelve projects amounting to nearly $400 million to improve education, health, irrigation and drainage, telecommunications, urban infrastructure, and water supply and sanitation. The World Bank has also approved a $100 million International Development Association credit for the education sector.

Hey you in-the-know dinar genuises, Mike, Adster and others!

Very much looking forward to your answering post #1506 by rodney ewalt. I've had these thoughts also, but I am far from understanding all the complexities(if truth be known, I've not given enough attention, just let you guys do my research. Have I thanked you? THANK YOU FROM THE BOTTOM OF MY HEART!)

I know you have said it before, but could you say it again? Please, please, please.

Tell us in easy to understand terms why this is very close to a sure thing.

I really like getting excited about this and relaying your wisdoms to my husband. This seems to soften him up to let me buy more.

Monica

great news indeed adam....always good to hear u and mike's take or inputs.....i for one will be eternally grateful to the both of u...can't wait to meet so i can buy u and mike a few brewskis....GO DINARS...Pat

Here you go Monica, the best forum out there.

http://www.investorsiraq.com/search....archid=1480509

Why will it peg soon? only way forward, they need foreign money to kickstart their economy and to do that they need a currency with a good rate. The current rate of 1470 was put in by the EPCA after Saddam, it is not a rate that is a true reflection of Iraq or their wealth with their oil.

There are lots of other reasons that have been mentioned above, now the government are in place they can and will make it happen soon.