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

Originally Posted by Caroline

On the "other" forum that discussesIraq, someone today had posted an article that just came out, in which it is said that Iraq will join the WTO in five years.

I've searched all over that forum trying to find that again, and of course, now I can't find it.

However, the person posting the information was wondering
if Iraq has to be in the WTO before a r/v.

Does anyone here know the answer to that question?

Caroline

good answer from another forum :)
I'm not an economist, but I do not believe WTO membership is required

The Chinese example back in 2001:

The drive towards a fully convertible local currency will gather pace now China has entered the World Trade Organization (WTO) - even though membership does not require it. But the immediate challenge for financial authorities is to ensure the country has the right balance of international payments.

And this task will become more complex as China gradually opens up its industries according to its WTO accession terms, said a spokesman for the State Administration of Foreign Exchange (SAFE).

He said China's trade surplus will diminish as imports grow rapidly caused by lower tariffs and demand for overseas materials and equipment generated by China's economic growth.

But the country's WTO membership will definitely trigger a bigger influx of overseas investment and compensate for less favourable conditions in trade surplus, the spokesman said.

read more

http://www.china.org.cn/english/BAT/22191.htm

I saw that answer, too. It definitely relieved my anxieties.
Sorry, Adster, you have a lot of credibility (in spite of your sources, lol), but I like to see some kind of official explanation. Thanks to whoever is above for posting that article about China here. I'm generally too computer-challenged to manage that sort of thing.

I sure hope your sources are right this time Adster, about something happening before the end of June. However, it does seem to me that this peg, when it happens, will have to be an sudden thing without ANY advance knowledge except for a very select few who have official reasons for keeping their mouths shut. Isn't that the way these things are done? Maybe Mike can remember the Kuwait situation and if there were people with insider knowledge who were leaking out info that proved to be correct.

Caroline

After reading the last few posts I had this thought occur to me that the peg will probably happen very suddenly and unexpectantly. We're going to Maui in the middle of July, and if it hasn't pegged by then (but oh geeez what a GREAT vacation we'd have if it did..no budget..jet skiing daily, a trip to Lanai and the Koale Lodge...sigh) I might just bring those dinars w/ me to exchange at a bank in Honolulu if necessary...

a peg in june. now (believing) this is scary. but folks are still waiting on pips so...

what about the dollar-euro problem? besides natural resources that's why we
went over there. they were going to switch to euros. can't have that....

Originally Posted by whatever

After reading the last few posts I had this thought occur to me that the peg will probably happen very suddenly and unexpectantly. We're going to Maui in the middle of July, and if it hasn't pegged by then (but oh geeez what a GREAT vacation we'd have if it did..no budget..jet skiing daily, a trip to Lanai and the Koale Lodge...sigh) I might just bring those dinars w/ me to exchange at a bank in Honolulu if necessary...

Not a Bad Ideal. Cause you could hit several banks and exchanges at under $10,000.00 each while you are there. Imagine leaving with your vacation money and returning with your retirement money.

Sudden and Unexpected = Bush dropping by the Prime Ministers office for a visit...

I'm thinking the reval will be this way also!

Iraq also has regulations in place relating to the stock market, CPA Order No. 74 and Amendment No. 100. Only joint stock companies, mixed or private, can issue publicly traded stock. The founders of a mixed joint stock company can only subscribe to not less than 30 percent and not more than 55 percent of its nominal capital, and it must include a minimum of 25 percent for the state (public) sector. Ownership of shares in joint stock companies that are trading on the Iraq Stock Exchange (ISX) shall be transferred in accordance with the relevant by-laws and guidelines. Presently, foreigners are not permitted to purchase shares in the ISX. While it is within the power of the newly created Iraq Securities Commission to do so, permission has not been granted. Trading transactions, buy and sell orders, are presently noted by hand on grease boards in trading sessions. This does not always allow for full transparency in terms of timing of market participants or knowledge of who has placed the bid. The coming automation of the ISX, with completion expected during the third quarter of 2006, will provide much greater transparency as well as pave the way for foreign investment on the exchange. In addition, a new permanent securities law is being drafted as well as rules and regulations for the Iraq Securities Commission.

http://www.state.gov/e/eb/ifd/2006/67643.htm

While we have known this for the longest time....The clock is ticking down

Originally Posted by Raditz

As many of you know(name of company deleted) has always sold Dinar from our stock in (City and State deleted), which enables us to send your Dinar out the next day, instead of several weeks as our competitors do. We then replenish our stock, usually once every week.

However, due to recent events such as the Iraqi Government now being fully formed, the death of al-Zarqawi’s, and the recent tightening of Dinar movement out of the Middle East, we feel that Iraq may forgo an internal raise, and launch their currency on the international market at any moment.

For this reason (company name deleted) will be temporarily suspending all sales effective 12:00 AM on Monday, June 19, 2006.

Between now and then any Dinar purchases over 10 million will need approval prior to sale*. If by chance there is an internal raise before June 19, we will adjust the price and review our suspension policy.

I will call my dealer today and see what he says aswell. Be back later with a report

We can only hope!!

Hhmmmm........

http://www.menafn.com/qn_news_story....eidDxmTyNvZAdm


WASHINGTON, June 14 (UPI) -- U.S. President George Bush Wednesday said he has suggested Iraq's government create a trust for oil revenues to be distributed to the populace.

Just hours after returning from a surprise visit to Baghdad, but told a White House news conference he and Iraqi leaders spent a good deal of time discussing the country's oil resource and how to manage it.

Bush, a former oil man, said he suggested a fund like the one set up in Alaska to protect oil revenues and reminded Prime Minister Nouri al-Maliki the nation's oil belongs to the people and the government must be a good "steward."


Oil belongs to the people. What does this say reading between the lines? Know what it means to me! Oil = Money and disney dollars. :0)

Iraq E-Learning Business Briefing

June 22, 2006, Washington, DC

On June 19-28, the U.S. Trade and Development Agency is organizing an orientation visit to the United States to expose Iraqi decisionmakers to the range of possibilities available in the E-Learning sector, including content, business models, applications and telecommunications infrastructure. On June 22, U.S. companies are invited to attend a business briefing where the Iraqi delegates will present projects and opportunities in the E-Learning sector and conduct one-on-one meetings with attendees. For more information, contact Debbie Palmer of Decision/Analysis Partners at e-mail: [email protected]; tel. (703) 691-0380 or visit the Web site at www.decisionevent.com.