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

Originally Posted by michael16

With what Wm Knowles has said is there anyway to calculate an approximate idea of where the dinar is headed, based on the remaining money supply. What will happen when the banks start selling their dinars again, will the value go down to some degree? We do not know how much the banks are hording. If it is a lot the value will drop again to some degree as they sell. If the banks are holding relatively few dinars the value might continue to rise. Is there any ideas on this.

What we have to assume is the CBI is following a well thought out plan. They are sweeping the banks for over 1 trillon dinar which in its self is a dramatic and seldom seen monetary intervention by a small country. They are at the point that they will have to increase the price (I think dramatically) so as to remove additional currency from the market. When the post stated that the CBI president wanted to take care of the "indirect Investors first". He was talking about us. How much is he going to have to pay to get us to turnin our Dinar? Thats why I liked the post about an RV around .04 cents. A lot of dinar would be retrieved at that level. Like another said, "those that have this investment will make money, those that hold over time will be rich. So, I wouldn't worry about the price going down. There are too many players in the world who want this country to win "big time". Lots of financial support. So lets calm down and enjoy the ride. Its not over yet. Thank You.

Originally Posted by Wm.Knowles

What we have to assume is the CBI is following a well thought out plan. They are sweeping the banks for over 1 trillon dinar which in its self is a dramatic and seldom seen monetary intervention by a small country. They are at the point that they will have to increase the price (I think dramatically) so as to remove additional currency from the market. When the post stated that the CBI president wanted to take care of the "indirect Investors first". He was talking about us. How much is he going to have to pay to get us to turnin our Dinar? Thats why I liked the post about an RV around .04 cents. A lot of dinar would be retrieved at that level. Like another said, "those that have this investment will make money, those that hold over time will be rich. So, I wouldn't worry about the price going down. There are too many players in the world who want this country to win "big time". Lots of financial support. So lets calm down and enjoy the ride. Its not over yet. Thank You.

Mr. Knowles,

With this reduction of the amount of Dinar in circulation, any thoughts on when we will begin to see the effects showing up in the supply to Chase banks, et all?

Thank you,

Randy

Thanks for the input.

I was reading the posts about the 0.04 start. I still am confident it will open at 1.47 or better. I thought about it a bit and my first thought was well....hey if it opens at 0.04 I will still BUY MORE because at 0.04 it is a steal....now mind you I am not a rich person (not yet anyway)....so 0.04 is a steal which makes me go back to my original theory of 1.47 to open......there are a lot of investors and companies who are wealthy and they could easily sink a fortune into investing at 0.04 and not bat an eye....so in my opinion 0.04 would not be likely at all. Not to mention those wealthy investors who jump on board at 0.04 and buy up millions and millions at that price already are wealthy and can sit on it for a few years....there you go with the hoarding of dinar again.....1.47 to open shows the big investors that wow that's a great price at 1.47 but they are not going to be able to dry up the market like they could at 0.04 per dinar.

1.47 or better here we come......IN THE NEXT DAY OR 2!!!!

Posted by: saleem on Tuesday, November 28, 2006 - 12:52 PM
Iraq-Currency
Dollar demand hits new low in 2006
Baghdad, Nov 28, (VOI) – Buying demand for U.S. dollars hit a new low for 2006 on Tuesday and the dollar rate was down two dinars amid expectations of lower demand for the U.S. currency as the Iraqi central bank moves towards raising the dinar rate.
The Cenbank said in its daily statement the dollar demand reached $0.850 million compared to $20.580 million on Monday.
The central bank covered all bids received from local banks which were $0.850 million in cash.
The exchange rate was at 1,437 dinars per dollar, two dinars down from the previous session.
Only six banks participated in Tuesday’s session, the lowest number in 2006, and none of them offered to sell dollars.
The Iraqi central bank runs a daily auction on Sunday through Thursday.


Iraq-Currency :: Aswat al Iraq :: Aswat al Iraq

I'm not sure about the four cents idea simply because to the seasoned currency trader surely this would be a clear "Buy" signal. These pros know the former value so I can see a scenario where indirect investors sell @.04 but only to bought up by further indirect investors who hold for the long term. Either way the notes are still out there. Well that is my opinion on it anyway.

Originally Posted by Adster

Anything missing???


1. October 15th. 3 year anniversery of the New Iraqi Dinar.
2. October 19th. Religious leaders meet in Mecca to endorse a call for an end to all sectarian bloodshed
3. October 24th. End of Ramadan.
4. October 30-31. IAMB meeting. (Article V111 done and dusted?)
5. End of October. ICBG to launch by end of October.
6. FIL passed 10 October, we were told it would take a month to be officially enacted, so we're looking at around 7/11 for announcement in the Gazette, still nothing, emabargoed??
7. Saddam verdict 5/11, to be hanged within month or 2.
8. Week beginning 5 November, distribution of ration cards........still nothing.
9. Rumour of BoA selling dinars from 13/11, we were told they'd only be dealing with dinars once it was 'trading' internationally........
10. EU Trade signing 20/11.
11. Rate all time high, gone from 1477 to 1439 since 2/11. Article, stating 'Revaluation' has started.
12. 29/11 big meeting with Rice and Bush in Amman......
13. End of November. International Compact for Iraq signed, sealed and delivered, or was it signed 31/10??????? Looking at mid December for this. Hopefully debt forgiveness by Saudi and Kuwait as well.
14. December 12/13th. DFI is turned over to the GOI.
15. December 31 end of year 1345 IQD to 1 USD CBI/IMF projection achieved.
16. Oil Law by end of the year.
17. Jan 1st. Beginning of a new fiscal year.
18. March 22, 2007. Iraq's IMF Stand-By Arrangement expires
19. 2008. Iraq begins making large IMF fund payments.

ADSTER HERE IS WHAT I HAVE FOR NOVEMBER STUFF - DIDN'T POST ALL THE MONTHS TO LONG:

31 Oct. The state of Kuwait would host a preparatory meeting for the International Compact for Iraq on October 31 where discussions would focus on the final preparations to endorse the international compact by the end of 2006.
2 Nov. phiberoptik found out he is famous with the IMF LOL
2 Nov. - Iraq won membership in the Economic and Social Council of the United Nations (Echo Suk) on the continent of Asia and during the elections which took place in the General Assembly of the United Natidhams Sunday.
4 Nov. Iraq reconciliation conference in Mecca - POSTPONED
4th Nov. A member of the Higher Commission for National Reconciliation Farouq Abdullah that "decisions were made to convene a conference of political forces for national reconciliation on the fourth of next month in Baghdad.
4 Nov. Cairo - The delegation, composed of national reconciliation hailed Ani representative of the Presidency of the Republic and hospitality Faleh member of the reconciliation committee, Saad al-Mutairi representative of the Ministry of National Dialogue, Unadim Kana, a member of the House of Representatives and Saad Hayani Iraq's Ambassador in Jordan visited Cairo from Amman on the fourth of November and joined them in the Cairo-based sold capital of the Iraqi embassy in Cairo, Saad Mohammed Ridha, Ra Alalosi Iraq's representative in the League of Arab States. The delegation held a meeting at the Iraqi embassy in Cairo studied the possibility of establishing mechanisms for political dialogue between the political parties representing the political process in Iraq out of the crisis the country is experiencing. He was scheduled convening of a conference of parties and political forces in early December next but it was postponed for an indefinite period in order to conduct further preparations and meetings by members of the reconciliation committee.
5nov. statement to Asharq Al-Awsat newspaper that "Jalal Talabani will visit Tehran on the fifth of November
5 NOV - The Iraqi Business Council will convene again in Sulaymaniyah on November 5
5 Nov - Sadman has to be sentenced to death.......
5-9 Nov Iraq Reconstruction Exhibition will be held at the Kermanshah permanent fairgrounds.
6 Nov. Proposed new hubs for economic reform Baghdad-Sabah The Ministry of Industry and Minerals its Colloquium Economic five on the 6th of November next, tagged "the effects of economic reform on employment" of the researcher, Huda Taha Ismail.
6 Nov. Pass out 10,000 dinar ration cards??? per SGS 11/9 - that article indicated that they would be handing them out for 3 months ending in january which would mean they would 'supposedly' be handing them out now.
6 Nov - no trading per posts Mr. X says trade on Wed. Nov. 8th
10 or 11 Nov. FIL's 30 days are up.
12-16 Nov. - Sixteen high-ranking officials from Iraq Central Bank (CBI) are to undergo advanced training at the Bahrain Institute of Banking and Finance (BIBF).The banking supervision programme is being organised by BIBF in co-operation with the International Monetary Fund (IMF) and Federal Reserve Bank of New York (Fed NY).
13 Nov. - representatives of 75 countries and international organization met today at the United Nations to discuss the draft Charter and plans to ensure the provision of aid. - important step towards defining "the International Charter with Iraq", which is an international initiative sponsored by the United Nations to provide aid for the reconstruction of Iraq in return for economic reforms.and the aim of the draft Charter is to ensure that the Sunni areas, which are concentrated in central Iraq, gets its share of oil wealth.
20 Nov - The European Commission and Iraq will start negotiations for a Trade and Cooperation Agreement (TCA) between the EU and Iraq on November 20.
28 Nov. - the Ministry of the Environment participate in the work of the first Arab Media Forum for Environment and Sustainable Development in Cairo.
28 or 29 Nov. - The Minister of State for National Dialogue Akram Al Hakim that the political forces of national reconciliation will be held for one day in 28 or 29 of this month.
29 - 30 Nov - Bush in the Jordanian capital of Amman. the task will include several files, including the scheduling of the withdrawal of the multinational forces, disbanding the militias
29 November - 1 December Expert Meeting on the Participation of Developing Countries in New Dynamic Sectors of World Trade: Review of the Energy Sector
Geneva, Switzerland
30 Nov International Compact for Iraq signed
31 November deathline of development of a payment system through the Automatic Clearing House.
3 Dec. - Declaration Under the slogan "Iraq and federalism" Representatives evaluate the Supreme Council for Islamic Revolution in Iraq / Office Sweden Expanded seminar on the political situation in Iraq and attended the symposium federal law professors and Iraqi political and public advocacy for all We call upon all brothers to attend and participate. Time : Sunday, 3 / 12 / 2006 five p.m. Place : Sto Kholm / tr Tensta äff The Office of the Supreme Council
5 DEC The Secretary-General of the Arab League, Ahmed Ben Hali, today, Saturday, that the Special Committee of the Arab League on Iraq, which includes ten countries will hold a meeting on the 5th of December December 2006 next to the level of foreign ministers in Cairo. first meeting of Iraqi neighboring states since the Tehran meeting in July, which included the foreign ministers of Saudi Arabia, Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Syria and Turkey.
8-10 December - Governments from the Persian Gulf region and key external powers are finalising plans to discuss some of the region's most pressing security concerns next month at the 2006 IISS Manama Dialogue, which will take place in Manama, Bahrain
The Manama Dialogue will bring together all elements of the national security establishments from over 20 nations, including the countries of the region.
9. December ?. DFI is turned over to the GOI.
11-12 Dec. The final meeting of the IAMB is tentatively scheduled for December 11-12."

Thanks Mrs, what shall we do folks, merge the 2 into 1?????

Originally Posted by bluezzguy

Mr. Knowles,

With this reduction of the amount of Dinar in circulation, any thoughts on when we will begin to see the effects showing up in the supply to Chase banks, et all?

Thank you,

Randy

Expect there to be pools of dinar still out there for sale. We had a post yesterday where one person was unable to buy from the Chase banks around Tulsa. So, we can expect this lack of supply to be more frequently reported. But it may take a while longer. If my understanding is right, the CBI has not sold dinar for almost a month. Since they are the ULTIMATE source, then the supply pipeline has to eventually clear itself. As the price goes up, fewer people here and IN IRAQ will be willing to part with their dinar unless its an absolute have-to situation. We are approaching a classic supply and demand situation. This is good for us. The fewer dinar to be bought, the higher the price will have to be to buy it. Thank You.

Mr. Knowles...I live in an area without a Chase bank. The closest one I know of is at least 300 miles from here. Of course, I don't mind traveling if need be to exchange. Obviously, I don't have a checking account with Chase, but I do have three Chase credit cards, all in good standing. Do you think these credit card accounts will carry weight if they require a person to have an account in order to exchange?

Hopefully, Bank of America will decide to get in on the action. I've had a checking account with BofA for about 4 years. But I would feel a little better if they would go ahead and exchange now and not wait!

Caroline