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

Take a break! Good reading From back in 2004

LITTLE SILVER — Living in a sandbag-fortified trailer, working in the palace of former Iraqi leader Saddam Hussein and traveling in a vehicle with bulletproof glass sounds like the stuff of soldiers.

But it is the story of Little Silver lawyer Michael Silva, who for three months worked as an adviser to the Central Bank of Iraq.

Silva, 43, is an employee of the Federal Reserve Bank of New York who volunteered to work in Baghdad in October to assist in the effort to rebuild and reorganize the banking and economic structure of that country.

Silva received the secretary’s Honor Award from the Department of the Treasury and the Joint Civilian Service Commendation Award from the Department of Defense for his work in Iraq.

Michael Silva stands on Saddam Hussein’s parade route, where Iraqi troops used to march through what Saddam called the Victory Arch.

Although Silva’s work in Iraq was strictly in a civilian capacity, his time spent in the military made him an ideal candidate for his role in Iraq.

After graduating from the U.S. Naval Academy in 1983, Silva spent six years in the Navy as an F-14 Tomcat weapons officer before attending Columbia Law School, New York, graduating in 1992.

Because of his service in the Navy and his experience in international economic affairs, Silva was asked if he would volunteer for this mission last year with the U.S.-led coalition in Iraq.

"The Federal Reserve doesn’t require people to go to war zones," he said.

In 1992, he went to work at the Federal Reserve Bank, the nation’s central bank established by Congress to regulate the nation’s monetary and financial systems.

Because of Silva’s experience, he was hired to work with foreign central bank customers.

According to Silva, many foreign central banks prefer to keep their financial reserves in dollars.

"We have over a trillion dollars in foreign assets at the Federal Reserve Bank in New York," he explained.

Silva likens his job to that of an international financial "plumber."

"If you have a problem at your house with your bathtub, you call a blue-collar plumber," he said. "You want to move billions of dollars, you get me."

Silva was recruited to help set up an account for Iraq’s oil proceeds at the Federal Reserve Bank of New York.

"All of Iraq’s oil proceeds came to the Federal Reserve Bank," Silva said. "That’s where we maintained a special account that was mandated by the United Nations, and that account was called the Development Fund for Iraq."

Silva explained that because Iraq is a cash economy, there is literally no way to transfer money electronically. Instead, the Federal Reserve Bank transports billions of dollars in cash to Iraq.

The cash is transported in large, unmarked tractor-trailers with a helicopter escort overhead. The cash is taken to Andrews Air Force Base and loaded onto a military aircraft and flown to Iraq.

"I think our largest shipment was over $2 billion in cash," Silva said. "That took several tractor-trailers."

Silva was also transported to Iraq on a military aircraft, which is the only way to fly into the country.

"It’s very complicated to get into Baghdad, and the palace is an extremely chaotic place to work," Silva said.

His responsibilities there, as part of a 25-person banking team from the United States and Great Britain, focused on helping to reorganize the structure of the Central Bank of Iraq.The reorganization aimed to bring a more modern banking system to the Central Bank, the state banks and the private sector banks.

"First we issued a new currency without Saddam’s face on it," Silva said. "People would bring in their old Saddam currency, and we would give them new currency."

Silva and his team also helped to set up currency auctions, in which Iraqis could sell their dinars, the currency of Iraq, and receive U.S. dollars in exchange.

An Iraqi who became nervous about the state of the country’s economy could easily exchange the dinar for the stable dollar

Before the invasion, the exchange rate was 1,900 dinars per $1 in U.S. currency. As a result of the work by Silva and his team, the dinar appreci*ated about 30 percent to 1,300 dinars per one U.S. dollar, he said.

Silva and his team worked toward establishing a free-market economy in Iraq, which had previously been a centrally controlled economy.

"In Iraq, the price of gas had always been set at 2 cents a gallon," Silva said. "The price of food was controlled. The price of electricity was controlled."

Silva acknowledged that he witnessed a certain amount of violence, although he was in the "Green Zone," which was supposed to be a relatively safe place in Baghdad.

He was in the country when Saddam Hussein was taken into U.S. custody and said that he has never been so proud of America.

After Ambassador L. Paul Bremmer III, Silva’s boss at the palace, an*nounced that Saddam had been cap*tured, the group was told they would be spending the night in the palace for their safety. Silva ran into some Iraqi workers in the compound.

"They were very scared and nervous because they’d been in the com*pound, and they didn’t know what was going on," recalled Silva. "They just heard all this shooting. They were be*ing supervised by a Jordanian. I told the supervisor, ‘Tell them we’ve cap*tured Saddam.’ But he didn’t speak English, so I thought for a moment and I looked at the workers and I said ‘Saddam.’ "

Silva crossed his wrists — to denote being put into handcuffs — to indicate that Saddam had been arrested.

"For a second they were just silent, and then they just exploded," Silva remembered. "Yelling, clapping, several were crying, and they were slapping me on the back, saying, ‘Thank you. Thank you.’ Well, I didn’t do it."

Silva has high hopes for Iraq and its economy.

"The Iraqis are very educated, and they are very entrepreneurial, very hard working," he said. "They’re tough because they’ve lived under 25 years of brutal dictatorship.

"You’ve got capital, you’ve got edu*cation, you’ve got a work ethic," he continued.

He said two things have to happen for Iraq to make the transition to a democratic state.

"They have to establish security, and the Iraqi religious and ethnic fac*tions need to learn to compromise," he said. "Security and compromise — you get those two things together, and Iraq’s going to be another Japan, an*other South Korea, another Germany.

"You really have to establish secu*rity and stop the dying on the streets before you can worry about central banking, before you can start gather*ing economic data and trying to con*trol inflation, and clear checks and distribute money," Silva said. "It be*comes a little silly when you’re trying to talk over the mortars and the rockets going off."

Silva described the work he did as the hardest he ever has had to do.

"We typically worked about 20 hours a day, going on three or four hours of sleep a day," he said. "There was just so much to do and so few peo*ple to do it.

"Everything was so hard to do be*cause there are no phones, no comput*ers; you can only move around with bodyguards and armor," Silva said. "It was very exciting. It was very stress*ful. It was occasionally scary. The last month or so I was really looking for*ward to coming home.

"I travel around a lot," Silva said. "And I always come home with the same thing to say: God bless the United States."

Little Silver banker aids rebuilding of Iraq Lawyer tells of working in Saddam Hussein’s palace BY LAYLI WHYTE Staff Writer

Originally Posted by Jola

Hi all,

This is for th e ones who have a doubt on CBI's policy: an article posted two or three days ago stated CLEARLY that the CBI started THE PROCESS OF REVALUATION. Please do yourself a favor and find that article ( it shouldn't be too far back). The words in the article ARE : REVALUATION process OF THE IRAQI DINAR or something like that.

I don't know if anyone could miss that, but just in case. I doon't have time now to find the post or the article link....

I gotta go Christmas shopping with my kids now, but I thought that this would help.

The revaluation started - no doubt. The only thing that I/no one knows is how far up the dinar will go. These are steps taken by CBI to straighten the dinar, but who says that they are not working on the pegging of the dinar?
As we all know, they said " the dinar will be the currency of choice". C'mon people, if I have to post this every day, I WILL!!

And it can only be the curreny of choice if it is stronger than what they are using.

Originally Posted by Socata 850

I'm afraid you really don't have a grasp of what is going on, do you. Do the math, follow the CBI auctions, read the CBI's own statements about reducing the amount of dinar in circulation. We are not making this stuff up. It's by their own design that this is happening.

Im Afraid I do have a Grasp on whats going on, most here are in fantasy land. Do your research, how long have the auctions been going on? Do you think they have been pulling dinar the whole time? What does the MOF do with the dinars he buys from the CBI?

Find the answers to these questions And maybe you will have a a clue of whats going on. I agree some dinars maybe are being held, but for the most part they go right back out to pay for all government spending. Period.

The name of the unified Gulf currency late 2007

سامي الحميدي - الدمامSami Al-Humaimidi-Dammam

The director of the Department of Finance and monetary integration in the Secretariat of the Gulf Cooperation Council d. Nasser failure to agree on the name of the unified Gulf currency is likely to be in the second half of next year in 2007, where she holds a special committee stems from the work of preparing for this matter before launching the single currency in January 2010. He added that the failure had not yet been agreed on the place of the Central Bank of the Gulf, where discussions are continuing in this direction and is expected to be at the outset of the establishment of a unified currency for the GCC countries to be changed later to become central bank after the completion of the legislation and regulatory actions related to it.
There is a preliminary study and plan for the establishment of a statistical level of the council to prepare data and information and the figures for economic activity in addition to the measurement of the growth indicators and information on disability and debt explaining that the study will be prepared in cooperation with the International Monetary Fund.
He said that the market in the Gulf list theoretically between the GCC countries and practically required to activate some of the issues that are still under study in some of the council which owns real estate and stocks, pointing out that there was a decision of the summit of the Council in 2003 need to treat citizens Gulf uniform treatment in the GCC countries.
He pointed out that he had not yet been agreed on the convergence criteria cash and suggestions were discussed by central bank governors at a meeting held in Abu Dhabi recently on determining the proportion of 3% disability in the budget and not to exceed the debt 60% of the GDP and will be completed research during a meeting of finance ministers in next May in Riyadh

Translated version of http://www.alyaum.com/issue/page.php?IN=11992&P=15

Originally Posted by jsfletcher

And it can only be the curreny of choice if it is stronger than what they are using.

This one.....


The Central Bank adopted tight monetary policy to deal with high (Voice of Iraq) - 11 - 13-2006 | (Voice of Iraq) - 11 - 13-2006 | sent this issue to صديقThis issue was sent to a friend of العراقThe Republic of Iraq Council of Ministers-the Minister of Communications الحكوميهCouncils-the governmental relations communications الاعلاميهMedia Relations Press Release Press release / Press Release Press release / Monday, 11 - 13-2006 Monday 11 - 13-2006, the Central Bank monetary policy depends مشددهThe Central Bank adopted tight monetary policy to address the high rates التضخمToaddress the high rates of inflation An official from the Iraqi Central Bank on inflationary phenomenon, including the following :An official from the Iraqi Central Bank on inflationary phenomenon,including the following :following the Iraqi Central Bank current trends of inflationary phenomenon and its implications on the tracks economic growth because of their undesirable effects on economic stability and the ability to allocate resources among the various activities of the economy and social conditions, especially the standard of living of the poorer classes and limited fathervinegar,It should be noted that inflation in the Iraqi economy, which negatively affected the security conditions resulting from two sources :Following the Iraqi Central Bank current trends of inflationary phenomenon and its implications on the tracks economic growth because of their undesirable effects on economic stability and the ability to allocate resources among the various activities of the economy and social conditions,especially the standard of living of the poorer classes and limited father vinegar,It should be noted that inflation in the Iraqi economy,which negatively affected the security conditions resulting from two sources :First :supply bottlenecks in the real sector, which mainly concentrated in the fuel processing sector and its negative effects on the cost of transport and communication and other production costs. First :supply bottlenecks in the real sector,which mainly concentrated in the fuel processing sector and its negative effects on the cost of transport and communication and other production costs.The second :the significant influence of aggregate demand for goods and services in the economy. The second :the significant influence of aggregate demand for goods and services in the economy.He added :We have reached the annual rates of inflation high levels exceeded 50%. He added :We have reached the annual rates of inflation high levels exceeded 50%.In spite of the positive developments shown by the index of consumer prices (an indicator of inflation) during the month of September 2006, which represented a decrease of 13%.However, the inflation rate base (the index of consumer prices excluding fuel and lighting, transport and communication), which represents the effects of the aggregate demand for goods and services in the Iraqi economy,what remains high and the level of not less than 33%. In spite of the positive developments shown by the index of consumer prices (an indicator of inflation) during the month of September 2006,which represented a decrease of 13%.However,the inflation rate base (the index of consumer prices excluding fuel and lighting,transport and communication),which represents the effects of the aggregate demand for goods and services in the Iraqi economy,what remains high and the level of not less than 33%.He pointed out that the Central Bank notes and in the follow-up of economic policy in general and the implementation of monetary policy in particular,The inflationary effects arising from supply bottlenecks sector requires addressed through other means of economic policy, which is outside the scope of the impact of the Iraqi Central Bank and its monetary policy adopted,realizing that the inflationary effects of the base index, resulting from the demand side can turn Alihalh rooted in the joints and components of the Iraqi economy if not addressed through the measures and procedures required and available to macroeconomic policies and in particular the financial and monetary policies,it found the Central Bank and after-depth analysis of these policies that causes inflation back to the base the following factors :He pointed out that the Central Bank notes and in the follow-up of economic policy in general and the implementation of monetary policy in particular,The inflationary effects arising from supply bottlenecks sector requires addressed through other means of economic policy,which is outside the scope of the impact of the Iraqi Central Bank and its monetary policy adopted,realizing that the inflationary effects of the base index,resulting from the demand side can turn Alihalh rooted in the joints and components of the Iraqi economy if not addressed through the measures and procedures required and available to macroeconomic policies and in particular the financial and monetary policies,it found the Central Bank and after-depth analysis of these policies that causes inflation back to the base the following factors :1.1.That does not suit the Iraqi dinar exchange rate prevailing with the nominal level, which reflects the real capacity of the Iraqi economy achieved and conditions of flows of foreign currency to the following :That does not suit the Iraqi dinar exchange rate prevailing with the nominal level,which reflects the real capacity of the Iraqi economy achieved and conditions of flows of foreign currency to the following :- The oil revenues generated by high oil prices in the world market during the last two years,, which was reflected in the ongoing expansion of government expenditure. - The oil revenues generated by high oil prices in the world market during the last two years,, which was reflected in the ongoing expansion of government expenditure.- Power expenses multinational forces stationed in Iraq., which are internal cover their expenses in foreign currency. - Power expenses multinational forces stationed in Iraq., Which are internal cover their expenses in foreign currency.As well as the flow of foreign aid is different still available in the local market and foreign currency. As well as the flow of foreign aid is different still available in the local market and foreign currency.The Almusderali that the Iraqi Central Bank believes that the above factors contributed to their widespread phenomenon of dealing in dollars (Dollar), which are outside the influence of monetary policy,The trends negatively affect the stability of the monetary demand and monetary policy course of action and its role in the stability of the financial market and the Iraqi dinar. The Almusderali that the Iraqi Central Bank believes that the above factors contributed to their widespread phenomenon of dealing in dollars (Dollar)which are outside the influence of monetary policy,The trends negatively affect the stability of the monetary demand and monetary policy course of action and its role in the stability of the financial market and the Iraqi dinar.2.2.In terms of public expenditure has increased paragraph salaries and wages has accelerated during the past two years to reach 60% of GDP-oil after the increase does not exceed 35% till the year 2004. In terms of public expenditure has increased paragraph salaries and wages has accelerated during the past two years to reach 60% of GDP-oil after the increase does not exceed 35% till the year 2004.He said the Iraqi Central Bank will adopt a tight monetary policy in this regard is aimed at reducing the inflation base through improved exchange rate of the Iraqi dinar and raise the purchasing power of the Iraqi dinar and make cash more attractive means to reflect the circumstances and encouraging indicators in the economy which would help in addressing the Dahdanger of dollarization, which is one of the factors غيرHe said the Iraqi Central Bank will adopt a tight monetary policy in this regard is aimed at reducing the inflation base through improved exchange rate of the Iraqi dinar and raise the purchasing power of the Iraqi dinar and make cash more attractive means to reflect the circumstances and encouraging indicators in the economy which would help in addressing the danger of Dah dollarization,which is one of the factors - desired in the work of monetary policy and the level of effectiveness to achieve their goals in reducing inflation. The desired in the work of monetary policy and the level of effectiveness to achieve their goals in reducing inflation.Furthermore, the Central Bank will adopt interest rates help to diversify financial market tools religion gradually terms at the same time enabling increased levels of savings and control the levels of cash. Furthermore,the Central Bank will adopt interest rates help to diversify financial market tools religion gradually terms at the same time enabling increased levels of savings and control the levels of cash.He went on to say that these measures will provide a climate conducive to the economic stability which will pave the way for reconstruction and achieve the required growth.in addition to higher levels of employment and reducing unemployment, which will be channeled all in the future of the Iraqi economy and prosperity. He went on to say that these measures will provide a climate conducive to the economic stability which will pave the way for reconstruction and achieve the required growth.In addition to higher levels of employment and reducing unemployment,which will be channeled all in the future of the Iraqi economy and prosperity.

another good old one

The rise in the prices of fuel ... حماية دخل الكادحين ام افلاس حكوميIncome protection laborers or bankrupt government
سلام ابراهيم عطوف كبةPeace Ibrahim caring Kabbah
[email protected][email protected]
الحوار المتمدن - العدد: 1527 - 2006 / 4 / 21Civilized dialogue-Number : 1527-2006 / 4 / 21

The increase in the prices of fuel and fuel cars homes of oil and gas, the impact of the decision to increase fuel prices after the end of the voting process for the election of the House of Representatives in light of the Constitution "Permanent" ...In response to international pressure on the object which was intended debt write-off and the theme that the promised privatization total fire majority, which is overwhelmed by dictatorship and unfair after Iraq after April 9, provides the same time profit abundant unreasonable for the minority of the old-new bourgeoisie and parasitic bureaucracy and the powerful ruling political elites in our country today!. The effects of amazement that such a step came with the rise of Iraq's oil revenues in the past year by large compared with 2004, With the frequency of talk about the development of the reserve the government's foreign currency!. the process of making excuses for me deceit and open direct cross Altamshedk support the poor and those with limited income and help them and provide them manna (Amendment wages of staff and workers according to a specific and clear and commensurate increases in the scale TR fuel) times! The social welfare support, which has been allocated 80 billion dinars, and the formation of a special fund for social assistance at other times! ...
Made theme and the need to cancel the debt through negotiations with the World Bank or financial members of the Paris Club, and as deceptive blatant implemented by the government of Jaafari brilliantly, in the interest of the Iraqi people and its current lightly For purposes Awastgaba fool our people proud tested his astuteness and experience TRICKS monopolistic oil companies and Trinity capital Abolmiati (World Bank WB, the International Monetary Fund IMF, WTO) throughout the 1900s. And Bslukitha demagogue the guise of religious Babbah the Jaafari government deliberately and with premeditation coverage essence of predatory capitalism and globalization concealment of the militarization of the Iraqi economy and the mobilization of resources for the race and preparing for new wars on the pretext of eliminating terrorism! It turns invasions and attacks monopoly in international custom Abolmiati capital to pave the way for the organization of the global market and capitalism planned! And to turn the privatization ultimately to the redistribution of wealth in favor of bourgeois domestic and foreign and may be on the state's ownership and the transfer of productive assets to the private sector regardless of the identity of nationality.
Over the four months since the issuance of the decision to increase fuel prices ..!....The price rises are sustained did not witness the likes of the country before with the exception of the period that followed the imposition of economic sanctions on Iraq and the economic embargo in the 1990s last century! ... Infection high prices by Dr. Ahmad Chalabi, head of the Committee on Energy and Vice-Chairman of the Council of Ministers in the government of al-Jaafari has Kalmard outside of the bottle, no one was arrested. Ratios ranged price rises of between 200% to 250%, the majority of consumers believe that the rate hikes would go far beyond. The prices of all commodities, foodstuffs and basic consumer, agricultural commodities, the prices of clothing, The prices of services.
This reduces the standard of living of millions of poor, who has the purchasing power of their income declining over the past years ...Despite the misinformation and government promises Velvet, as reflected in the return of a few staff to the free exercise of their profession (taxi drivers ... the repair of electrical equipment. etc.) after office hours, during which they were not able to meet the needs of their families, Youth unemployment and the worsening Iraqi gripping (Jnabarham) streets of the country nor learn sleeves-payment of railway carriages pregnancy and wood.
The first reason offered by the Iraqi government to explain what is happening is the theme of debt write-offs have to be the rise in international prices. The global market, which has seen a long period of extremely decline in the prices of raw materials and basic commodities. beginning to see a wave of rise after the collapse of equity bubbles in the stock markets. ....The Economist index of commodity prices to rise more than 25% since the beginning of 2002 for wheat, cooking oil and sugar, for example ... . ... This situation did not lead directly to the waves of price rises. But that is compounded by the impact of higher world prices on the Iraqi economy is ashes and trade balance deficit and the impending investment rates and the general economic activity due to the economic sanctions and occupation. to the extent that imports almost everything from abroad.
The imposition of occupation is quite strange exceptional Iraq not seen before, It is the policy of linking the Iraqi dinar American dollar and thus influenced swings Green globally, and falling under the mercy of United States monetary policy. The association supports this certainly political decision-making positions in our country any capital parasitic and Alkombradorih organically linked in the United States of America. ....The escalation of the crisis and exacerbated domestic demand for the dollar due to the decline of confidence in government policies and their impact on the value of the Iraqi dinar, in the so-called dollarization phenomenon. any foreign exchange retention past as a value ... dollarization rates have escalated in the Iraqi economy, to reach very high levels and increase the sensitivity of the economy to the exchange rate more and more ... In addition to the phenomena of speculation and money laundering. And the American dollar and its impact on the price originate primarily from the conditions of the Iraqi economy and structural corruption Brjoazitna our government and its economic policies. Occupation and Shfh real growth rates, compared to the energies of the one hand, The escalating needs of the population on the other hand, the basis for the loss of immune to any economic development of even the slightest impact.
...In this poor economic situation and extremely instead of increasing support for the prices of basic commodities as a measure to curb the rise in house prices. The wage the battle of the national product, which means the creation of thousands and millions of new jobs for the unemployed and productive ... The decision comes on the rise in the prices of fuel and smashed the incomes of the poor are also claimed to protect the Iraqi government. ..Price rises incident today reveals the depth of the crisis of the post-April 9. The bankruptcy of bourgeois Iraq, and severe sanction against the masses of the poor in our country, leading to further deterioration in their situation. While the crisis continues, and the inability of the system to overcome, we expect further escalation of the Libyan struggles, Rising prices have always been the straw that stifled the camel's back.
More than 20% of Iraqi families under the poverty line, Unemployment remains (rates ranging between 30% and 50% of the working population) rampant among young people in particular, despite the re-employment of retrenched and many in the police and army. Rising inflation and rising prices, a devourer of salary increases. The deteriorating distribution of ration cards to citizens, will it benefit offered monetary compensation for the card ... Everything that was payable under this or that pose the bulk of inflation before it reaches the citizen?. The large crowds moved in the last few months against the worsening living difficulties and the intensification of crises in various fields of daily life. and under the influence of frustration at the overall performance of the government and not fulfilling including hours of promises, and indignation at some of the actions being studied and taken it. The move reflected in the large demonstrations which covered Iraq, citing the decision to raise the prices of oil derivatives.
The content of the reports on the intentions of the international oil companies, American and British exploitation of the ongoing violence in the prevailing conditions in Iraq to win the secret negotiations held behind closed doors on the division of oil production by imposing long-term contracts of a minimum of (25-40 years) with the Iraqi government and the link Iraq by the unjust conditions known in advance with malice aforethought! .. Attention must file of Iraq's oil due to its importance to the future of Iraq and the future of our people and the legitimate aspirations ... This requires a file oil agenda of national priorities in order to be aware of everyone Tame all of what has happened and is happening is oil in Iraq in general and often conducted its deliberations behind closed doors.

Translated version of http://www.rezgar.com/debat/show.art.asp?aid=62759

Originally Posted by Elfwizard

Im Afraid I do have a Grasp on whats going on, most here are in fantasy land. Do your research, how long have the auctions been going on? Do you think they have been pulling dinar the whole time? What does the MOF do with the dinars he buys from the CBI?

Find the answers to these questions And maybe you will have a a clue of whats going on. I agree some dinars maybe are being held, but for the most part they go right back out to pay for all government spending. Period.

Its obvious that you do not read or understand the posts by Socata , Wm Knowles , Adster and others. What did the GOI spend over a trillion dinars on over the last 35 days????? So w'ere all in a fantasyland and your the only one that really knows whats going on? With that ignorant remark youv'e lost every shred of credibility with me and your on my ignore list. Please take your bleak outlook and your know-it-all attitude back to IIF!!

Thanks
Mike

Originally Posted by Mike5200

Its obvious that you do not read or understand the posts by Socata , Wm Knowles , Adster and others. What did the GOI spend over a trillion dollars on over the last 35 days????? So w'ere all in a fantasyland and your the only one that really knows whats going on? With that ignorant remark youv'e lost every shred of credibility with me and your on my ignore list. Please take your bleak outlook and your know-it-all attitude back to IIF!!

Thanks
Mike

First of all I don't have a bleak outlook, I believe this will happen eventually. I have come to realize that this venture will make me a decent amount of money, maybe 10k to 40k dollars on my fairly large stash. The one thing I don't understand is how people can say something is fact with no Proof. This will be a slow rise, to a respectable rate. Some people seem to think there is NO DINAR leaving the CBI this is a bunch of bull. The CBI PDF and XLS files don't show everything, there is no way you can make an asumption that all the dinar from the Aucions has been pulled from Circulation. GO ahead and think it will All of a sudden RV at a $1, I don't care. Seems its ok to say I dont have a Grasp on things, which means your stupid you don't understand, But when I say Fantasy land IM the bad guy. Some of you need to come back down to earth. IT will happen but its not going to make MIllionaires overnight. HOwever I do hope it makes me a Big chunk of money I can reinvest.

Originally Posted by Mike5200

Its obvious that you do not read or understand the posts by Socata , Wm Knowles , Adster and others. What did the GOI spend over a trillion dinars on over the last 35 days????? So w'ere all in a fantasyland and your the only one that really knows whats going on? With that ignorant remark youv'e lost every shred of credibility with me and your on my ignore list. Please take your bleak outlook and your know-it-all attitude back to IIF!!

Thanks
Mike

And the Mikester strikes back!

1 Point for the home team!

11:26 GMTAnother update : Monday, December 4, 2006-11:26 GMT
Iraq ratified the Law for the Promotion of Investment
Sadik of the Presidency Iraqi investment law, , which aims to encourage investments and the transfer of modern technologies, in order to contribute to the development of the country. and expand its productive base and service and diversification. The law, , which was based on a draft approved by the House of Representatives, to encourage the Iraqi private sector and foreign investment in the country, through the provision of the necessary facilities for the establishment of investment projects. strengthening the competitiveness of enterprises.
The law also aims to develop human resources according to market requirements, and providing job opportunities for the Iraqis. and work on the protection of human and property investors, and the expansion of exports, and strengthening the balance of payments, The trade balance for Iraq.
The new law grants the National Authority for Investment, the task of drawing investment policies, and it controls, application instructions and control in the area of investment, in addition to its focus on strategic investment projects with the federal nature exclusively. The event, moderated by the National Authority for Investment newly formed board of directors, consisting of nine members with expertise and competence, in addition to representatives in the regions and provinces, to be located in the capital, Baghdad.
.The law exempted from the provisions of investment in the fields of mining and oil and gas production. , as well as in the sectors of banks and insurance companies. while all areas of investment will be subject to the other provisions of this Act.
.The law allows investors to take the capital introduced to Iraq and dividends, in accordance with the provisions of this law and the instructions of the Central Bank of Iraq, The convertible currency after payment of all debts and obligations to the Iraqi government and all other quarters.
The law also gives the right of the Iraqi and foreign investor in the field of housing, determined to keep the land in return between him and the owner of the land, away from the speculation, and according to rules set by the National Authority for Investment, and with the consent of the Council of Ministers. It will also facilitate the process of allocating land for housing projects, The ownership of housing units for the Iraqis. after the completion of the project.
Translated version of http://www.alfayhaa.tv/main/newsdetails.php?newsID=2321&catID=7&keyID=65