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

Originally Posted by kiko

Great article, best ever!

* No reprint
* No lop
* Small demons are coming (RV is coming)

Susie, Adster & Other experts.

Correct me if I am wrong but this RV must come before 1/1/2007 at the latest.

Now they are reducing inflation by pulling out dinars from circulation and increasing exchange rate.

How for god sake can you increase you salaries like that, if you know from experience (2003/2004), and also said by economist, that it will increase inflation.

Between this there must be a RV that makes the increase in salary possible!!

Am I correct in this one?

FARM JIG EVERYBODY!!!!!!!!!!!
ANY QUESTIONS LOL

Originally Posted by Socata 850

Quote:
The Central Bank of Iraq denies change dinar early next year
Safed Alsamuk-Baghdad

The Iraqi Central Bank denied that the change of the local currency within the current Iraqi actions he intends to begin work so as to meet the economic inflation in Iraq with the beginning of the year 2007. The official spokesman said told ((today)) announced yesterday that there is no intention to change the Iraqi dinar at the moment, He refused to disclose whether there were any similar intention in the near future, after the Financial experts recommended deleting three zeroes from the Iraqi dinar after the American dollar to her and about a thousand dinars. The spokesman noted that the launching of the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage, especially local supervision of the banking activity by the central bank and means of reform, The Central Bank supervises the banking activity level by the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. He continued to say «The Central Bank has granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. He pointed out that this step is the beginning of cooperation and openness to the world towards the revitalization of the economy in Iraq. The Central Bank of Iraq still continue to sell the dollar against the Iraqi dinar through auction, which will be mounted when the daily, adding that this auction is a tool to achieve stability in the value of the Iraqi dinar by defending the exchange rate stable for a long time. This, in turn, will affect the general level of prices. For his part, Minister of Finance, the Iraqi statement Jabr said the decision to increase the salaries of the staff work will start with the beginning of the year 2007. at a time when observers are worried economists Iraqis of the dangers of increasing inflation by successive increases for staff salaries to cope with price rises of living without MySQL economic problems, He pointed out that he would start in the top five of the (10 - 5) and that at the beginning of next year will get the owners of these degrees on the increase of 50-70%.

well, here they are admitting the lower denoms are a comin.

SGS, you have done it again, this is one of the best posts that have come along in a long long time

Has anyone figured out how much of a move the dinars need to make before we start seeing the introduction of the lower denoms? ie does it need to go down to 1 usd = 1000 dinars or something in that neighborhood? I am sure they must have some sort of forumla, I just don't know what it is.

worf

American dollar to her and about a thousand dinars.
Looks to me like they want to make it 1000 dinars to 1 dollar.

Sure hope not, that would be a significant increase in 2006 but not significant enough for me.

Originally Posted by DinarLady

I doubt they'll use any old notes from Sadaam's era. Not going to happen. They are just selling trivia.

Interesting,

There were indications of just that, and as long as Saddam's mug isn't on note, it will be used. The 5 dinar has two versions as I recall, one with his mug, and one without, so it would make sense to reintroduce these notes, and this may be why we do not hear much about these notes.

Good luck to all, Mike

Originally Posted by Inscrutable

American dollar to her and about a thousand dinars.
Looks to me like they want to make it 1000 dinars to 1 dollar.

Sure hope not, that would be a significant increase in 2006 but not significant enough for me.

A problem with that is the part of the puzzle that states the Iraqi's need to become par with their neighbors' exchange rate/currency. 1000 dinars = 1 usd is still way too low in comparison with their neighbors. It might be a stopping off point briefly but I doubt if they would leave it there long.

worf

Originally Posted by worf

Has anyone figured out how much of a move the dinars need to make before we start seeing the introduction of the lower denoms? ie does it need to go down to 1 usd = 1000 dinars or something in that neighborhood? I am sure they must have some sort of forumla, I just don't know what it is.

worf

Good question...I would like to add to it...does the prices of everyday items change in Iraq...for instance bread (simple) with the value of the dinar going up, and price of inflation on the rise...do the everday Iraqi people see price fluctuations? I still think that for the average Iraqi store keeper, it would make sense to r/v close to a amount in which they are accustomed to working with, so that when they change the value of everday items (bread) it will not take a lot of intervention from the Government to help implement value change. So, the question then would be how much? Pre-war level of around .31, pre-gulf war level of over 3.00? Damn questions and speculation...need some Tylenol.

Originally Posted by mogo

look i need £20k before xmas to pay for my new dormer whats the chances

I hope you get it!!! By the way, whats a Dormer ???

Medicine decline in the dollar to its lowest level in 2006
Baghdad - (Voices of Iraq)

Record demand for the American dollar in an auction today, Wednesday, the Iraqi Central Bank lowest level in the current year and reached 11 million and 450 thousand dollars. The price of the green currency fall.
The demand for dollar during the auction yesterday of 50 million and 115 thousand dollars.

He said in a statement that the central procurement requests herself at three million and 25 thousand dollars in cash and eight million and 425 thousand dollars in the form of remittances outside Iraq were covered at a rate of 1444 dinars to the dollar, down 2 dinars on the price yesterday.
Did not make any of the eleven banks participating in the auction today offers to sell the dollar.

ÏæáÇÑ- (ÇÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

Originally Posted by shotgunsusie

did you mention the troops struck oil 99x out of 100 when they were drilling for water. some only 10 FOOT DOWN.

simplest oil to refine in the world.

reports from troops who have guarded seizmograph teams in iraq verify they were IN FACT there and other reports from actual employees of said companies which report they found more oil than saudi ever thought of having.

and i am stressing these points to a person who says they invested in the dinar in good faith and arent pessimistic about it? NOT.

Exactly,

What hasn't been released to public until recently is the fact Iraq will be number one in by a huge margin in cheap oil, and this means more than most may realize. Cheap oil is just that, highly refined out of ground, and when combined with 10 ft. verses typical hundreds or thousands of feet deep. This equates to the cheapest oil to extract in the world. This is a huge advantage and why everyone is lining up for rights to drill in Iraq.

Combine this with the Saudi oil reserves running dry, undisclosed publically since the privatized the industry, this is going to be a bombshell when the truth about Saudi oil hits public and when it does, oil will skyrocket in price beyond anything we have seen to date. And who is sitting in the wings with the cheapest oil in the world, Iraq, and Kurdistan will be first in line to reap the huge rewards of this news. Kurd's are smart, they have been sandbagging for years under Saddam, in fact, the news slipping out now has been known for over five years about regins oil reserve potential. I heard about this way before Saddam was ousted, and so have many in the oil industry, so expect even more announcements of proven reserves over the next few months. Enough to make Baghdad drool. (g)

Good luck to all, Mike

Businessmen Union organize a conference for Iraqi reconstruction in Baghdad By Hadi Hadi Baghdad - (Voices of Iraq)

Deputy chairman of the Iraqi Businessmen Union on behalf of the European Antoine exhibition will be organized for the reconstruction of Iraq in Baghdad during the month of March of next year 2007 in case the security situation has improved, the capital.

He added in a statement to the News Agency (Voices of Iraq) Independent today, Wednesday, that if they could not hold the conference in Baghdad will be held in Erbil province of Kurdistan.

He explained that the exhibition will be held in cooperation between the Federation of Iraqi businessmen and a group of Ukrainian companies where there is a protocol of cooperation between the Russian Chamber of Commerce and Industry of Ukraine as well as the presence of another protocol between the Federation of Iraqi Businessmen and Industrialists Federation contractors and Ukrainians.

He pointed out that officials of the Chamber of Commerce and Industry told the Ukrainian Union that there are a number of Ukrainian companies to invest in safe areas in Iraq.

Antoine did not reveal the number of such companies or the areas where they operate.

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