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

This was worth staying up late just to see those numbers!!

BAGHDAD, Iraq - Iraqi state television reported Thursday that Vice President Dick Cheney was in Baghdad. Private Al-Arabiya TV broadcast a similar report.



The American Embassy said that it could not confirm the visit, but that Cheney could be in the country to visit troops for the Thanksgiving holiday.

"I'm not confirming or denying he's here. I'm trying to figure that out," said Lt. Col. Christopher Garver, a U.S. military spokesman.

President Bush met with American troops on Thanksgiving three years ago during a visit that was confined to the airport and limited to several hours.

Also on Thursday, U.S. and Iraqi forces swept into Baghdad's Sadr City slum in an early morning raid, killing four Iraqis, wounding eight and detaining five, police said.

Police Capt. Mohammed Ismail said coalition forces searched houses at about 4:30 a.m. and opened fire on a minivan carrying Iraqi workers in the al-Fallah Street area, causing the deaths and injuries. Iraqis often pay a small fee to crowd into such vehicles and travel early in the morning to sites where they hope to be hired as day laborers.

The U.S. command said it could not immediately confirm Thursday's raid, which would be the fourth in six days on the Shiite slum home to the Mahdi Army, the militia loyal to radical anti-American Shiite cleric Muqtada al-Sadr. The Mahdi Army is suspected of kidnapping an American soldier last month and taking scores of Iraqi hostages during an attack on a government building in Baghdad on Nov. 14.

Ismail said the coalition also detained five Iraqis during the raid.

Residents of Sadr City gathered around the bloodstained, bullet-riddled minivan.

"I was surprised by the heavy shooting on our minivan. I was hit badly in my left hand," said one worker, Ahmed Gatie, 24, as he was treated at Imam Ali hospital. "I can only feed my family when I work. What will happen now?"

Witness Salah Salman, 24, said he and other local residents helped police carry victims of the attack from the minivan to the morgue and hospital.

The raid came weeks after Prime Minister Nouri al-Maliki, a Shiite, ordered the U.S. military to lift a blockade of the sprawling east Baghdad grid of streets lined with tumbledown concrete block structures and vacant lots.

American forces had sealed the district for several days looking for kidnapped U.S. soldier Ahmed Qusai al-Taayie, a 41-year-old reservist from Ann Arbor, Michigan. He was visiting his Iraqi wife in Baghdad on Oct. 23 when he was handcuffed and abducted by suspected rogue gunmen from the Mahdi Army.

Al-Sadr is a major political backer of al-Maliki, who had rejected American demands to disband the heavily armed militias and their death squads, which have carried out a brutal campaign of revenge attacks on Iraq's Sunni minority in a cycle of violence following the Feb. 22 bombing of a Shiite shrine.

But Al-Maliki has looked the other way during the most recent joint U.S.-Iraqi raids, an about-face his aides said was prompted by anger over the U.S. soldier's abduction and a mass kidnapping carried out by suspected Mahdi Army gunmen. Dozens of gunmen in police uniforms kidnapped scores of people during the raid on a Ministry of Higher Education office in Baghdad on Nov. 14. The ministry is predominantly Sunni Arab.

At least 101 Iraqis were killed Wednesday and the U.N. reported that 3,709 Iraqi civilians were killed in October, the highest monthly toll of the war and one that is likely to be eclipsed when November's dead are counted.

The United Nations Assistance Mission for Iraq also said that citizens were fleeing the country at a pace of 100,000 each month, and that at least 1.6 million Iraqis have left since the war began in March 2003.

Life for Iraqis, especially in Baghdad and cities and towns in the center of the country, has become increasingly untenable. Many schools failed to open at all in September, and professionals — especially professors, physicians, politicians and journalists — are falling to sectarian killers at a stunning rate.

Lynchings have been reported as Sunnis and Shiites conduct a merciless campaign of revenge killings.

The U.N. figure for the number of killings in October was more than three times the 1,216 tabulated by The Associated Press and nearly 840 more than the 2,870 U.S. service members who have died during the war.

The U.S. military on Thursday reported the deaths of three Marines in fighting in Anbar province, where many Sunni Arab insurgents are based.

So far this month, 52 American service members have been killed or died.

Originally Posted by CharmedPiper

Note the large numbers in red.....why is this auction showing a difference in the 2 numbers where in past auctions those 2 specific numbers would match for the day????? Is this anything significant. Is this saying that the CBI made the higher offer of amount to buy but the banks only had the lesser number to offer....Is this the sign of a dried up circulated dinar (not enough circulated dinar left for the CBI to pull back in).....Let's hope!!!!

COMPARISON OF LAST 14 AUCTIONS.....

Number of banks:
11/2/06 (16)
11/7/06 (14)
11/8/06 (20)
11/9/06 (14)
11/12/06 (10)
11/13/06 (17)
11/14/06 (15)
11/15/06 (19)
11/16/06 (12)
11/19/06 (12)
11/20/06 (12)
11/21/06 (15)
11/22/06 (11)
11/23/06 (6)

Auction price selling dinar / US
11/2/06 $1470
11/7/06 $1468
11/8/06 $1466
11/9/06 $1465
11/12/06 $1465
11/13/06 $1465
11/14/06 $1460
11/15/06 $1455
11/16/06 $1454
11/19/06 $1452
11/20/06 $1449
11/21/06 $1446
11/22/06 $1444
11/23/06 $1441
{{{{{{{snip}}}}}}}

na na nana na i won another betttttt!!!!

What bet....come on spill it!!!

Originally Posted by shotgunsusie

na na nana na i won another betttttt!!!!

Economic : losses topples company carbonated drinks in Babylon

Babel morning The suspension of work in a company carbonated drinks in Babylon province to sit more than 90 staff working in the company, demanding payment of their salaries which did not happen three months ago and the work in the company, said Deputy Director of the company, Eng Abbas Rahim in a statement to economic (morning) : The working conditions deteriorated after the cessation of support , Developed by partners in the property who are currently living outside the country, which resulted in material losses and the decline in production, which arrived in 1000 the day after the company produces 22 thousand in the previous day fund for other reasons, including ages, machines and operating a rise in the prices of raw materials used in industry, such as seignorage t and others as well as the rise in fuel prices, which leveled off in recent times which reflected negatively on the salaries declined in the starting Yeh then stopped months ago. The workers appealed to protestors in a statement by the government and officials of the Babylon province to stop the deterioration and to provide the necessary support to it, because it is one of the large industries in the province. It should be noted that the company was one of the productivity of the state and operate three production lines and employs more than 400 staff and workers, is one of the milestones in the industry in the Furat.

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Originally Posted by CharmedPiper

What bet....come on spill it!!!

i told a fellow investor that it would be 1441 because i saw it in my mind like it was posted on the page and that was the rate. i was tired ok. lol

Originally Posted by shotgunsusie

i told a fellow investor that it would be 1441 because i saw it in my mind like it was posted on the page and that was the rate. i was tired ok. lol

We must be in sync again.....you have the 1441and I feel like it is this weekend. come on reval .... What do you think about my previous post about the numbers being off from each other....I took it as the CBI was ready to pull in the amount posted but the banks could only produce the lesser amount. Though a subtle change I think it might have significance. Anybody's thoughts.

The first political : Economists : the procedure is incapable of making a positive impact with the presence of high rates of inflation

Baghdad Karim Hashim Aboudi The level of savings in Iraq deteriorated markedly, especially with the burden of living which has borne the Iraqi citizen in the light of the current phenomenon of inflation, The volatile situation of the various consumer goods and service sectors. This is called the Iraqi Central Bank to a recent amendment to the approved interest rate has become 12% after it was 10%. Bid for interest rates play a role in raising levels of saving and maintaining the level of deposits with banks. As the Minister of Planning to Ghalib Baban told (morning) that the Central Bank's decision, which came after extensive study by the stakeholders was also aims to encourage holders of capital in addition to citizens in general on saving. Here, the question arises in light of the reality of living is : the feasibility of raising the level of interest about the high price of the resources that can not be won with limited incomes to cover daily requirements. Is that the process of raising the interest that brings the owners of capital at the time they face their capital abroad?. According to the Director of Research at the Central Bank of Iraq, Dr Mohamed Saleh appearance : - The Iraqi Central Bank the authority responsible by virtue of its No. 56 of 2004, to cope with inflation and reduced levels as a goal the basis of this principle adopted by the monetary policy in the performance of their duties, On this basis it was imperative for the Central Bank to establish policies and priorities mean here monetary policy to combat inflationary activities using the tools available. Located in front of monetary policy variables and intermediate or intermediate objectives reflect on the relationship between the impact of these variables to reduce the general level of prices and contain inflation. Among these variables of interest rates stabilizing (long-term) and stabilizing the exchange rate, or the real, and the levels prevailing exchange, Noting that these variables can not control directly has not been targeted by similar variables. These variables or operational objectives are references or means Acharateh or information be used to influence stability in the cash market. These signals known as interest rate, the Central Bank of Iraq, a price indication It is a navigational compass to influence the behavior of interest rates as determined why would the Central Bank lends to banks? What banks deposited in the Central Bank? under the control of the levels of cash, as it is believed that whatever the confiscation of inflation, in the end, the phenomenon of cash and Accordingly, the priorities are stability to the crisis logical to build and stimulate the economy and on this basis the inflation mainly to increase the speed of money circulation and abandoned, leading to weak demand cash and the growing demand for goods and services as counterproductive, In order to maintain the cohesion of demand and maximize cash levels in order not to turn into strong spending on goods and services to the Central Bank, the use of tools in raising the interest rate has to stimulate the interest rate structure and maintaining the coherence of savings and maximize their purchasing power helps monetary policy to address the levels of flooding e high, contained within the cash market (banking) without becoming bloc cash adrift direction of goods and services. With retains Abdel Hassan Mohyi Shamari, the leader of the Iraqi industrial point of view, especially on the subject say : - You know that the banks in the pursuit of balanced profitability include cover expenses with a profit margin to increase the capital annually. Through savings for citizens of certain interest rate and the lending interest rate to achieve a higher profit by the difference between them. The decision of raising the interest rate does not achieve what we hope for increasing savings banks If we assume that the savings had increased but there is a modern and sophisticated lending and should be borrowing at an interest rate higher than the interest savings. So in the case of raising interest rate to 12% should be lending more than 18% of these high interest, We therefore believe since 1991 and so far the lending rate is very low as well as a capital in the banks and large frozen without moving. Q : What do you propose? - I need to find laws and regulations, including sophisticated new mechanism of action for lending, It also shows the infrastructure of the country and to contribute through lending in building housing projects and support of the national industry, the agricultural lending, also lending citizens amounts not exceeding three million bail official of the State or of other citizens or grant amount for the purchase of cars and specialized production for the benefit of a simple, and she would lend the state development projects and production lines imported 70% of its value and low-interest also. These proposals, if implemented, will create strong economic activity and which do a market economy and has many positive returns them, the production of consumer goods, durables and the elimination of unemployment, The reconstruction and rehabilitation and finally achieved if these things will be now that security is through labor. Samir Nima Fakhri-an economist - says : - Central Bank of Iraq to take this decision came as enough to reduce inflationary phenomenon suffered by the Iraqi economy after it peaked at the end of the month Maes of this year compared with last year Maes, since recording a boat 53% and decreased slightly to reach 52.5% in the month of June last year. Q : What sectors was an indication of the phenomenon of inflation? - That this resolution stimulates interest rates to perform their role in increasing levels of saving and maintaining the level of revenue deposits at banks as well as their impact on the rates of bank liquidity surplus in order to serve the objectives of monetary policy and priorities and economic stability in general. But raising the rate of bank interest rates to 12% will withdraw by raising the interest rate on the first investment in the Central Bank from 7% to higher rates, and thus will decrease the incentive for commercial banks to buy Treasury transfers only at high interest rates exceed (10%), this constitutes a burden on the budget. we therefore propose a bond denominated in foreign currency, especially in light of the magnitude of domestic debt. in this regard the government, As for the burdens that would have been the private sector, it will reduce the borrowing of various investments due to the increase in interest rates; and thus weaken the incentive to invest in spite of weakness already. Economic expert Mahmoud Alvkiki talking in this regard : - That raising interest rates would make matters worse, It will increase the cost of investment and production and reduces the efficiency of capital and of the internal rate of return for investment. We should know that in the forefront of the major dilemmas faced by the Iraqi economy now, weak price competitiveness of its products and the high costs and declining investment and domestic production. The high rate of unemployment resulting from, The deterioration of the investment climate and environment, therefore, we do not know any increase cash liquidity frequented by the Central Bank statement?. A study conducted by the World Food Program of the United Nations in cooperation with the Ministry of Planning and Central Agency for Statistics in Baghdad that more than half of the Iraqi people, or 15.7 million people, live on one dollar per day per capita, Of this number, more than four million people, live on less than half a dollar per person per day and they are living extreme poverty despite the receipt of the ration card, About 20 million people or more than two thirds of Iraq's people eat meat once a week. Among this number (5.2) million people also live without eggs and milk and milk as well as meat, Some of them may not obtain any of those materials even once a week, about 60% of primary school pupils were anemic, about four fifths of women of reproductive age in southern Iraq suffer from the disease itself, Any cash liquidity by the Central Bank speak? Any savings from these poor people to be even in the case of doubling profits! Q : What do you propose to reduce the repercussions of this resolution? - Prefer to give economic policy in Iraq and more attention to search more supply-side and the high cost, The factors that are behind it, including administrative corruption rampant in the districts of the state, and bureaucracy rooted deeply abhorrent delaying the supply response and stifled opportunities for progress. Although the Central Bank's decision to lift interest rates from 10 to 12% came in an attempt to curb inflation, I think that this increase is unable to make any positive impact, They are unprofitable, Valtakl impact of inflation in the capital. more interest rate, Therefore, this policy is not sufficient to maintain the purchasing power of the Iraqi currency. And Dr. Hisham Mohammed Amr, an economist at the Center for Research on the Arab homeland in the Mustansiriya University and point of view that says : - Whatever our convictions and our individuals and communities of interest and the interest rate, the interest rate in this day one of the most important tools of monetary policy, They, in turn, an important branch of the macro-economic policy that can be applied by any country and is a benchmark for the performance of the economy at the macro level. * What are the expected repercussions of this decision? - That the process of raising interest rates mean a contractionary monetary policy to reduce inflation rates prevailing in the national economy, especially if we know that the inflation rate in the Iraqi economy reached unprecedented figures, as is currently estimated at 70%, therefore, the process of raising interest rates mean raising the cost of lending to individuals and institutions, including reducing the Ko hill cash in circulation or exchange offer also known as encourage savers to increase their CPF and accepting huge amount of money (12%) instead of operating money, which in turn also reduces the supply of money in the short to medium term at least. In a country economically stable, the increase of interest rates lead to increased flows of foreign capital of this country, but with the presence of high rates of inflation lead to reduced employment opportunities and slow growth of the GNP, weakening the contribution of the private sector and increasing the domestic public debt burdens of the government.

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Originally Posted by pipshurricane

Reuters
Nov 22 2006 21:29

By Irwin Arieff

UNITED NATIONS, Nov 22 (Reuters) - Iraq has decided to keep alive for another year a U.N. watchdog to monitor the use of its oil wealth, reversing course just weeks after announcing the agency would be abolished, officials said on Wednesday.

The decision to resuscitate the International Advisory and Monitoring Board was made at the request of governments donating money to Iraqi reconstruction, said Baghdad's deputy U.N. ambassador, Feisal Amin al-Istrabadi.

"I am very well aware an agreement is in place to replace it. But the IAMB has certainly played a useful role up until now, and some of the donor countries think it could still play a useful role," al-Istrabadi told Reuters.

Iraqi officials had informed the IAMB just three weeks ago that it would be abolished as of the end of this year and replaced with an Iraqi monitoring body to be called the Committee of Financial Experts.

IAMB members were therefore astonished to see a draft U.N. Security Council resolution circulated this week extending the board's life through Dec. 31, 2007.

They concluded that the provision, part of a U.S.-drafted text extending the mandate of the U.S.-led multinational force in Iraq until the end of 2007, had been included in error.

"There was a slip by the Iraqis," said one board member, speaking on condition of anonymity. "We clearly would prefer to work with a successor body."

SABOTAGE AND CORRUPTION

But it was not a mistake, U.S. and Iraqi officials said. A vote on the resolution is expected next week.

Oil is Iraq's main source of hard currency needed to rebuild after years of war, and the energy sector is struggling to recover from years of mismanagement and U.N. sanctions that were lifted after the U.S.-led 2003 invasion.

The IAMB was created by the Security Council in 2003 to watch over the stewardship of Iraq's natural resources while Baghdad was under U.S. administration.

The new government then allowed it to remain in place through the end of 2006, to reassure world governments it was managing its vast oil reserves wisely and for the benefit of the Iraqi people.

Iraq's oil sector has been plagued by sabotage and poor maintenance.

The IAMB made clear it also suffers from mismanagement that has left the door open to smuggling and corruption.

The board reported in August, based on an outside audit, that Iraq's systems for tracking oil sales and the use of the proceeds from those sales suffered from poor management, flawed accounting systems and weak internal controls.

The board has also criticized Iraqi delays in installing equipment to meter oil production, so that production and sales figures can be reconciled to guard against smuggling.

Corruption in the energy industry has cost Iraq hundreds of millions of dollars, the general inspector of the Ministry of Oil has previously estimated.

IRAQ | Log In

I don't mean to be a wet blanket, and this might not mean anything, but this cancels out the "Final" meeting that we knew about for December 11-12.

We all thought that Iraq taking back control of their oil proceeds would be the key to the revaluation, but since Iraq is the one asking for the IAMB to sick around, it’s possible that control of the proceeds will have nothing to do with the revaluation after all.

After reading the article several times, it seems that even the IAMB was surprised to be asked to stick around. This would confirm all of our thoughts that Iraq was being given the green light from the IAMB to take control.

I would think that if this was directly linked to a revaluation, and if we are correct in our assumptions that this is where the CBI has been heading towards for the last two weeks, then our first assumption was wrong, and that the IAMB's control will have nothing to do with it.

In fact, this could be an attempt to calm worries and to bolster a revaluation. With the IAMB still in place, the world community as well as the Iraqi people can be assured that with all of the corruption going on in Iraq, this is one area that is untouched.

Just my opinion and a little positive spin,

Everyone have a great Thanksgiving, and I for one am going to try and unplug! (yeah, right...)

Dan

Political first : Barham Salih asked the European countries to fully amortize the debt Iraq

During a speech before the Foreign Relations Committee of the Union Baghdad-Sabah Dr Barham Salih, the deputy prime minister, European Union extinguish all of Iraq's debt instead of reducing them by 80%, as agreed in the Paris Club. A statement from the Office of the Deputy Prime Minister, received (morning) copy : that Barham Salih delivered a speech to the Foreign Relations Committee of the European Union the day before yesterday, Tuesday,, he said : Iraq faces terrorism on behalf of the world. Therefore, we ask our friends in the international community, especially in the European Union, help us to pass this stage. The support provided by the European Union is the focus of our thanks and gratitude, but we hope that the European Union plays a bigger role, we believe that these countries an important and vital role in supporting the democratic experiment in Iraq. The statement added that the difficulties facing Iraq's transition to democracy large and complex terrorism and extremism and violence, and in a time when we have come a long way from this stage, However, there are serious security escalation and vicious assault by agents of the former regime and takfiri organizations, as well as the challenge of armed groups outside the law. A : "The vast majority of Iraqis reject violence and that the Iraqi leaders are invited to take urgent action to stop the bleeding and confronting terrorists and extremists. We are determined to succeed and the preservation of democracy emerging in which Iraqis live after years of oppression and dictatorship. " He continued : Saleh "We are aware that the building of a democratic state in the heart of the Middle East is a big challenge, "We also recognize that the international community will bear with us for the success of this experience, In particular the European Union, We seriously want to develop our relations with the European Union. " He said Deputy Prime Minister : "We in the Iraqi government well aware of our responsibilities and that failure is not among the options. Failure would mean a catastrophe, not only for Iraq, but for the region and the entire world. and that the Iraqi government has a comprehensive plan and the work with the international community, through the draft International Covenant with Iraq, which we hope will be soon. " For their part, members of the European Parliament expressed the readiness of their countries to provide the necessary support to Iraq for the success of political experience and democracy. And Dr. Barham Salih met on the day before yesterday, Tuesday, in Brussels, the secretary general of NATO Jaap de Hoop at NATO headquarters. The statement said that the two sides during the meeting they discussed how to reach the best ways to enhance the preparedness of security forces. " He added : "The Hope emphasized that NATO will continue training programs and seeks to visit Iraqi officials to develop a new plan of action that would increase the volume of support to Iraq." this is accompanied by the Deputy Prime Minister in the delegation, which arrived in the Belgian capital of Brussels on Sunday for an official visit that will last three days. Dr. Muwaffaq Rubaie, national security adviser Abdel farmer Sudanese Minister of Trade, agents and the ministries of planning and trade.

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