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

Originally Posted by shotgunsusie

paulie has to be taken by the hand and reassured all the time. paulie, its going to revalue, its going to be a good revalue, they arent going to reprint your money before you trade it in. ive been telling you all along.

He seems like a nice young man, and it's about the choices we make in life. If he's not careful this adventure will open up a Pandora's box for him. Just be careful Paulie.

Originally Posted by shotgunsusie

in the future if we call a bank or ANYWHERE we should NEVER post the number in the forum. only one person should be making these phone calls.

when you post the number you can bet that alot of members are going to try their own hand at the call and there are 20,000+ members here. its a wonder any of us get any kind of information over the phone.

if you were at the other end of that number would you want it to ring incessantly asking you the same question over and over again? it would tend to irritate me slightly and i wouldnt tell anyone anything.

i think so everytime when i see a phonenumber in a post here - or somewhere else.

NEVER post a phonenumber in a forum!

it's horrible fore the person who have to take the phone. what would u think if u see your number in internet??? even if it's at workplace.
and it's very impolite to the person who post some news and nobody believe them. why so many people need to ask the same question again and again?
if someone realy need to ask the same then he should call to the own next branch.

Originally Posted by PAn8tv

He seems like a nice young man, and it's about the choices we make in life. If he's not careful this adventure will open up a Pandora's box for him. Just be careful Paulie.

In my opinion with any circumstance that has a chance of creating a "Pandoras Box" there has to be some kind of evil or greed within a person which I feel I do not hold. Your thoughts are well apreciated but dont really hold relevance to me.

Originally Posted by Wm.Knowles

Hello everyone. Well we continue to see a trend of the CBI removing dinar form the economy. Todays auction results have fewer banks and the total amount is not that large. At some point there will be a "drying up" of available cash that can be removed. As the rate increases, fewer prople will let go of their cash at these levels. With all of the articles that have been posted (thanks SGS and others) it is safe to assume that Iraq is experiencing an expanding economy. Estimates have been posted of an increase in GNP of over 14 percent. When you have an expanding economy, you have an increase in the DEMAND for money, when you have a central bank decreasing the base money supply you have a reduction in SUPPLY of that commodity. Expanding economy and reduction of the money supply. A formula that predicts a rise in the price levels of that commodity, in this case the Iraqi currency. The very BEST position we could be in. We WANT as much of that currency removed prior to an RV as possible. We WANT continued expansion of that economy. So, this is all very good fundamental economic news for all of us. Thank you for your many comments and PMs.

Thanks for your explanation Wm. knowles.

Can we conclude that we are in the period of drying up because of the low amounts removed the last2 or 3 auctions?

I assume that when the drying up period is there they are in their final stage of removing money from circulation. If this is the case then the RV will be very close.

Correct me if I am wrong in this!

This is just a thought. If, as Wm Knowles has said, the CBI would want to buy as much as possible as cheap as possible. Then why would the exchange rate go down 2 with only 31,495,000 when it went down 2 on Nov. 7th with almost four times this amount: $109,105,000.00, 1470 to 1468. Then on Nov. 8th it went down 2 again with 3 times today's amount $97,010,000.00 1468 to 1466. Nov. 9th it went down only one with more than twice today's amount: 1466 to 1465 with $70,180,000.00..

On Nov. 12th & 13th there was no change in the rate even though the dollar difference between the two days is significant: $24,880,00.00 and $110,265,000.00 respectively. On Nov. 14 & 15th we saw consecutive drops of 5 in the $60 million range.

In terms of percentages the value increased more on the lower auction amounts than they did on the higher auction amounts. If WM's theory is correct, then more money coming out of circulation should actually cause the value to go up more than less currency coming out of circulation. But the opposite seems to be happening.

Could it be that the CBI is just setting the rate at what it wants when it wants? ? If so, that means they could RV it at whatever rate they choose when they want.

Originally Posted by kiko

Thanks for your explanation Wm. knowles.

Can we conclude that we are in the period of drying up because of the low amounts removed the last2 or 3 auctions?

I assume that when the drying up period is there they are in their final stage of removing money from circulation. If this is the case then the RV will be very close.

Correct me if I am wrong in this!

Yes I believe you are on the right track. The "tail end" of this process SHOULD be smaller numbers and fewer banks. We might need a couple additional auctions to confirm this. But it remains a very positive thing for us, that the more they take out the less supply there is in the economy. With the increased demand (expansion of business) and reduction in supply, we are just where we want to be. Thank you.

Originally Posted by Wm.Knowles

Yes I believe you are on the right track. The "tail end" of this process SHOULD be smaller numbers and fewer banks. We might need a couple additional auctions to confirm this. But it remains a very positive thing for us, that the more they take out the less supply there is in the economy. With the increased demand (expansion of business) and reduction in supply, we are just where we want to be. Thank you.

But based on this shouldn't the value increase? Fewer Dinars in supply with inceasing demand for fewer dinars would seem to indicate a higher value or are you saying they are positioning themselves a major pop in value?

Hi all

Trade Bank of Iraq (TBI) has updated updated rates. Their rates are far away the same as CBI.

Todays CBI rate=Selling price IQD 1454.000 Buying price IQD 1453.273
Todays TBI rate=Selling price IQD 1,385.80 Buying price IQD 1,510.50

I do not know what to make of it. TBI have in used to show approx. the same rate as CBI.
How come they are not any more?

Could Wm.Knowles or somebody tell what this could mean?

Thank you.

This news mean then that Iraq is NOT ready to fully control oil revenue. Deposits will continue in New York......and not the Central Bank of Iraq.
They may review this decision by June............

UNSC set to extend MNF force next week until Dec 2007

POL-UN-COUNCIL-IRAQ
UNSC set to extend MNF force next week until Dec 2007

UNITED NATIONS, Nov 17 (KUNA) -- The UN Security Council is scheduled to extend the mandate of the Multinational Force (MNF) in Iraq next week until December 31st, 2007 and that in response to a request by Iraqi prime Minister Nouri Al-Maliki.

According to a draft resolution circulated among council members, the council would review the MNF mandate no later than June 2007 and declare that it will terminate its mandate earlier if the government wishes to.

The council would also extend until December 2007 the arrangements to deposit the proceeds from oil and natural gas export sales into the Development Fund for Iraq and the arrangements for the monitoring of the Fund by the International Advisory and Monitoring Board (IAMB).

These two kinds of arrangements would also be reviewed, at the Iraqi government's request, no later than June 2007.

The council would also ask the US to continue to report to the council, on behalf of the MNF, on the efforts and progress of this force on a quarterly basis. (more) sj.

Kuna site|Story page|UNSC set to extend MNF force next week until Dec 2...11/17/2006

BAGHDAD, Nov 19 (Reuters) - Syria's foreign minister was due to fly to Baghdad on Sunday for talks likely to focus on Iraqi and U.S. complaints that it is doing too little to prevent Islamist fighters from crossing its border into Iraq.

Iraqi Foreign Ministry officials confirmed the visit by minister Walid al-Moualem.

It will be the first time a Syrian minister has visited Iraq since the U.S.-led invasion in 2003 and comes amid increased talk of diplomatic efforts to involve both Syria and Iran in finding a solution to the crisis in Iraq.

It is a rare visit by an Arab minister, since many Arab governments have been wary of Prime Minister Nuri al-Maliki's Shi'ite-led administration's close ties to Washington and to non-Arab, Shi'ite Iran.

Iraqi Foreign Minister Hoshiyar Zebari told Reuters in October the visit by Moualem would be an "acid test" of neighbouring Sunni Arabs' states willingness to help Iraq's Shi'ite-led national unity government stabilise the country.

The New York Times said on Saturday that Moualem had met former U.S. Secretary of State James Baker, co-chairman of the bipartisan Iraq Study Group examining strategic options in Iraq.

http://today.reuters.com/news/Crises...ryId=COL935689