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

Originally Posted by michael16

Morning, got my news heading back to the sack. Nice drop in the dinar though.

Thanks for coming!

Originally Posted by Socata 850

About Time you got up Michael16. I was wondering if I had to call Michael16.5 to get you out of bed !!

I worked so hard yesterday I got up a little later. That's the ticket.

Originally Posted by Wm.Knowles

Hello everyone. According to these numbers, we are over 1.1 Trillion dinar out of the economy. A monumental move by the CBI that few countries in the world can make. Just goes to show how much money these people really have. A small increase in the rate of exchnage, another 14 Million USD out (approx) and few banks participating. Limiting supply, increasing the rate. Eventually increasing demand. A formula for success. Since this is the 4th auction this week, we probably can expect another similiar one in the am. But, this is not a situation that can go on forever. As we have said many times, there is a fixed amount to pull out and eventually market forces will take over and they (CBI) will have to pay more for the dinar. For those of us who have watched this over years, it is finally exciting to see a process unfold. Life is good and going to get a lot better. Let take every dinar out that they can. Its all good for us. Even if it takes a little more time. But taking these amounts of dinar out on a daily basis might sound small, over a period of time your talking about a lot of money being removed. Thank you for your comments and PMs. Have a good day and we'll see about our next auction and later this month. Thank You.

Thanks WM, and you're estimations on an opening reval rate please???

Iraq Study Group Set to Release Findings Wednesday Tuesday, December 05, 2006

WASHINGTON — President George W. Bush is meeting early Wednesday morning to receive the Iraq Study Group's recommendations for war policy in the Mideast nation, but the White House is already downplaying the report's impact on the United States' next moves in Iraq.

"I think anybody who expects ... a magic bullet out of the Hamilton-Baker commission is probably placing an unfair burden on them," White House spokeswoman Tony Snow said Tuesday, adding that several different groups are looking to offer advice on Iraq.

"No doubt, whatever recommendations are made ... you're still going to need to continue to make adjustments based on the facts on the ground. But having said that, you know — so we have not been hyping it up, nor have we been trying to discourage speculation about the Hamilton-Baker commission," Snow said.

The 10-person congressionally mandated bipartisan commission is led by former Secretary of State James A. Baker III and former Democratic Rep. Lee Hamilton of Indiana. They met with Bush for lunch on Tuesday for a preview of the recommendations

Baker and Hamilton did not leave behind a copy of the report, though Snow joked that White House aides tried to procure a copy with silly putty.

The report is already the hot reading material for the week. Spokespeople for the ISG said the report will be released electronically on one of several Web sites at 11:00 a.m. EST, and they are confident the sites will be able to handle the volume of traffic.

Attending the report presentation will be Vice President Dick Cheney, Secretary of State Condoleezza Rice, White House Chief of Staff Joshua Bolton, National Security Adviser Stephen Hadley and other senior White House aides.

They will not comment on the recommendations, and after the presentation, the ISG is set to brief Iraqi Prime Minister Nouri al-Maliki and his team via secure videoconference from the White House.

Bush will meet later in the day with House Republicans and the panel's leaders are expected to testify on Thursday morning before the Senate Armed Services Committee about the recommendations.

In the invitation to appear at the Senate committee panel heads Sens. John Warner, R-Va., and Carl Levin, D-Mich., said they want to hear "the process the ISG drew upon to study the current and prospective situation in Iraq" and "the approaches you applied to achieve bipartisan consensus."

Leaks of the report suggest that the ISG will encourge the U.S. to reach out for more help on Iraq's security — including Iran and Syria as part of a larger group — and to gradually change the mission of U.S. troops from combat to training and support, with a broad goal of withdrawing the Americans by early 2008.

The president has resisted engagement with Iran and Syria, which the U.S. accuse of being bad actors on the world stage as well as fomenting instability in Iraq. Bush has rejected any timetable for U.S. troop drawdowns.

But the White House also insists that the examinations, including an administration review of military options led by Gen. Peter Pace, chairman of the Joint Chiefs of Staff, will be advice to be considered.

Just the fact that the president has commissioned a review and has not ruled out the ISG's approach is progress, say Democrats who are upset with what they describe as a bullheadedness by the administration to incorporate new ideas and change course in Iraq.

But Snow said the ISG's role isn't to dictate which policy the White House should follow.

"It is not their job to undermine public confidence in this government. It is their job to be working with this government to try to assist us in taking a look at a very complex problem. ... It is a commission that's designed to study a problem," Snow said.

Public confidence in the administration took a serious nose dive in the past year, according to polls, and Democrats frequently make the case that the November midterm vote was a mandate for change in Iraq policy.

"The American people yearn for at least two things in Iraq. One, a change of course, change of direction, a sense that the current course that we're on is not working, that we have to place greater responsibility on the Iraqis to solve their problems, that we can't save the Iraqis from themselves," said Levin, the incoming chairman on the Senate Armed Service Committee.

"The other thing they yearn for is a bipartisan approach to national security problems and the issues that face us in places like Iraq. There's a very deep yearning for that bipartisanship," he said.

Levin's comments came as a preamble to praise for the president's defense secretary nominee, Robert Gates, who on Tuesday won unanimous committee approval for the post. The broad support was largely credited to Gates' candid remarks about what he thinks has gone wrong with U.S. policy in Iraq, particularly after the end of major combat operations.

Three and a half years after major combat ended, nearly 2,900 U.S. service men and women have been killed and a relentless insurgency has complicated a political solution and caused the deaths of thousands of Iraqis in sectarian violence. About 140,000 U.S. troops remain in Iraq with no end date in sight for their departure.

During his confirmation hearing, Gates contradicted Bush's previous statements by saying the United States is not winning in Iraq, though he pointed out the military is not losing in its battles. He suggested that the commission may not have the quick solution.

"It's my impression that, frankly, there are no new ideas on Iraq," said Gates, who left the commission when Bush nominated him to be defense secretary.

Despite the violence, administration officials continue to say that progress is being made in iraq. From Baghdad, the top American military spokesman said the Pentagon expects all of Iraq to be under the control of Iraqi forces by the middle of next year.

Maj. Gen. William Caldwell said this is part of an accelerated timetable discussed by Bush and al-Maliki during a meeting in Jordan last week. Previous predictions by the Iraqis of their abilities to take over have fallen by the wayside, but al-Maliki's statement last week that Iraq soldiers and police would be up to speed by June were seen as one way out for the administration.

And the White House reacted warmly to Tuesday's announcement by al-Maliki that his government wants a conference with neighboring nations, such as Iran and Syria, on ending the violence.

FOX News'
FOXNews.com - Iraq Study Group Set to Release Findings Wednesday - Politics | Republican Party | Democratic Party | Political Spectrum

Books : nakr2004 on Tuesday, December 05, 2006-11:58 PM BT

Stated today, Tuesday, a member of the delegation of Kuwaiti investors currently visiting Kurdistan, the delegation came to the region to discuss investment opportunities and the establishment of a number of important projects in it.
The member delegation Tariq Moosa, the Kuwaiti public warehouses company, News Agency
Voices of Iraq) Independent today that "the delegation is comprised of a series of Kuwaiti companies. He came to the territory of Kurdistan, to explore and discuss investment opportunities "in the province.
،Moosa said, "we have noted that there is good investment opportunities, and we will sign an agreement in principle or in a memorandum of understanding with the competent authorities for the establishment of various storage depots, refrigerated, chilled and dry,
"The parking area for shipping. "
"He added : "The intention is to establish an integrated network of storage areas, to give a solution for traders who bring goods to the region. "
Moosa did not specify the timing of the agreement, The areas that will be the establishment of the projects he spoke about.
A delegation of Kuwaiti investors visited yesterday, Monday, Dohuk governorate, He held discussions with the Governor of Ramadan in the fields and on the investment opportunities in the region. كما زار ةThe delegation also visited the area(Zakho) on the Iraqi-Turkish border for the region that have been identified for the establishment of a free trade zone there.
For his part, Osama Al-Bader, director of the national real estate in Kuwait and a member of the visiting delegation""We now have two, the first includes the development area (104) thousands of meters of land for the construction of a compound in the city of Irbil, consists of a hotel (4 star), a commercial center and a cinema and large apartment buildings. " noting that the final cost for the project, "amounting to about (100) million."
"He continued, "will be discussed today, the structural plan for the project and put the final touches with the officials. The direct implemented as soon as possible. "
"He told Al-Bader (Voices of Iraq) that the second project "in the phase of the study now, the establishment of a free trade zone. It is considered one of the mega-projects that require large expenditures and heavy investment. "
"He added, "Therefore we must check the feasibility of setting up these projects in the Kurdistan region, the way that serves the territorial government and the investing companies. "

Translated version of http://www.aswataliraq.info/?newlang=ara

Iraq is moving at the present time to support the Iraqi dinar

Justice / special Baqer Jabr Al-Zubaidi, the Minister of Finance that Iraq is moving at the present time to support and strengthen the Iraqi dinar because that would reflect positively on the state and the people and contributed to the increase in the state's ability to provide the best services to the Iraqi people.

%.The minister added that 2007 would witness an increase in the budget balanced by 73% from 2006 which saw loitering in the disbursement of the amounts spent in the Ministry of Water Resources, 75% of its budget, and housing 20% and 17% oil. ف.The minister attributed the failure to pay the balance in full, that the money had not been fired only in the April 15, 2006 Ada, which lost half a year. الى.In addition to that there are 2.5 billion dollars for the reconstruction of the governorates, which has a direct form new precedent was not ready for the governorates disbursements There was no consulting engineering offices and the lack of experience which has led to delays in project implementation. .This is in addition to the instructions and bureaucratic complications in the implementation of projects and about the faltering since we receive for our portfolio of the Ministry of Finance to issue special instructions in the budget would be the first month of 2007 besides the direct addition to the creation of provincial offices consulting, engineering, which the budget will deal with the exchange rate of 100% and instructions Economic Commission will facilitate the completion of projects to serve the march of reconstruction in Iraq. .He pointed that we have developed an important balance in 2007 as the first ministry or province has implemented 80% of its projects during the first six months will be removed and given funds to ministries and governorates capable of implementation. .They stressed they create projects by the beginning of next year, has held three conferences in the north, south and center, putting our expertise in the field of reconstruction and financial assistance for the purpose of the Ministers and Governors of the implementation of the projects. .And he added that next year will witness a revolution Aemarih large, which will contribute to the reduction of unemployment and defeating terrorism and promoting security and stability in the new Iraq. .The Minister concluded that the cadres of the ministry will witness a quantum leap in the area of improving performance allowance and the adoption of modern scientific methods during the sessions boned and global optimal use of computers in the organization of daily work in the ministry and linking services in Baghdad and other information network controlled centrally.

http://64.233.179.104/translate_c?hl=en&langpair=ar%

Originally Posted by Wm.Knowles

Hello everyone. According to these numbers, we are over 1.1 Trillion dinar out of the economy. A monumental move by the CBI that few countries in the world can make. Just goes to show how much money these people really have. A small increase in the rate of exchnage, another 14 Million USD out (approx) and few banks participating. Limiting supply, increasing the rate. Eventually increasing demand. A formula for success. Since this is the 4th auction this week, we probably can expect another similiar one in the am. But, this is not a situation that can go on forever. As we have said many times, there is a fixed amount to pull out and eventually market forces will take over and they (CBI) will have to pay more for the dinar. For those of us who have watched this over years, it is finally exciting to see a process unfold. Life is good and going to get a lot better. Let take every dinar out that they can. Its all good for us. Even if it takes a little more time. But taking these amounts of dinar out on a daily basis might sound small, over a period of time your talking about a lot of money being removed. Thank you for your comments and PMs. Have a good day and we'll see about our next auction and later this month. Thank You.

Is the amount in circulation critical or is it more important the percent it goes up which hopefully would bring in more demand? All comments are welcome.

The distribution of 30% of the oil revenues between the citizens month A number of members of the House of fueling bill commits the government to distribute 30% of the oil revenues between the citizens month. The deputy said the consensus Noureddine Hayali told (morning) : The principles of the project are now under discussion will be circulated with the Minister of Planning to Papan and chairman of the Economic Committee of the Council, Dr..

حقيقة).Haidar Abbadi. Hayali believes it is possible to present the draft to the parliament for approval before the end of this year. Economists estimated proceeds of Iraqi oil annually, including more than thirty billion dollars or ten billion dollars distribute them among citizens in the form of monthly salaries. The price of a barrel of oil is 60 dollars, It was increased to 70 dollars in the past months, while observers speculate is likely to increase prices due to the prevention of some OPEC countries to increase production and thus reduce vulnerable in the market. The law aims to notice their ill citizens, which should be preserved by all of the waste and theft and that benefit them directly. He says : Hayali that law citizens will be divided into three different categories of shares : the first category of birth until six years ago, second : from 7 to 18 years. three of the 19 and over. He explained that the law would shroud the cash portion who earns more than 1 million dinars. It also deprives them involved crimes against honor, such as drug trafficking and abuse, and adultery, as well as espionage, Each felony owner holding more than five years. He said : The law also deprive the Iraqi who migrate abroad. It is likely to amend the House in some of these barriers, or add to them, however, said Followers : as a whole the factors helping to suit the society and the restoration of cohesion and unity. Al (morning) that a large number of deputies he welcomed this project is to be paid to Andhajeh and developed and put to the Council. The previous references officials commented on the need for citizens to feel the benefits of its oil wealth Mb the Bulletin, expecting to address the House for this task by the law governing the rights of people. It is hoped that the 2007 budget, the largest budget in the history of Iraq as the $ 40 billion and described the Prime Minister Balanfjarih. While citizens were pleased with the promises of the government to improve their living conditions, which appeared signals in the new salary scale and the pension law, which published (morning) yesterday and the day before yesterday owned and looking at the oil quotas (Probably to be true).

ÔÈßÉ ÇáÒæÑÇÁ ÇáÃÚáÇãíÉ - ÊæÒíÚ 30% ãä ÚÇÆÏÇÊ ÇáäÝØ Èíä ÇáãæÇØäíä ÔåÑíÇ

Originally Posted by Adster

I get cheesed off reading the same crap that it will take another 2 to 3 years at a point or 2 a day, this is absolute BS and totally goes against what their government have said.

With inflation at 76% and growing can they wait for 2 years and see it grow to 150-160%?

Do you really see Bush hanging on for another 2 years for their economy to improve? No way, he'll oust Maliki if need be, and soon, he has to kickstart the US dollar and pay for the war/show it's been a success.

We know for a fact that the rate was 33 cents 3 years ago before the IMF set the prgramme rate.

We also know that in the 80s the rate was $3.22 which is still on the books of the Bank of Baghdad and the CBI site. Now why would they have kept these rates on their books???

Do some really think the 10k handouts that should have happened 6 weeks ago will go out at $6.80 per person, this has to be linked to a reval as per the Marshall Plan as the IC has been compared to the MC, right???

With all the debt forgiveness and Iraq crying out for foreign investment will they really allow their country to be bought up for fils as that will be the case at 1430 to the dollar.........

With the fil and soon to be oil law and IC they need to do something now, a big reval, not 1 or 2 points per day. I wish people would see this. The CBI and MoF have stated raising the dinar to be in parity with neighbouring countries/on a par with the dollar.

How can they import goods at 1430? Joe Hussain wants a computer from Uncle Sam, at $1k he'll pay 1,430,000 dinars, this likely??? Once the dinar is openly on the market there will not be enough dinars in circulation to allow people to import goods at this pathetic artificial rate.

WELL SAID!!!!!!!!!!!!!!!!

The opening of a branch of the International Center for the Iraqi economy in Tehran

The economic forum between businessmen and traders Iranians and Iraqis on the good results through closer economic cooperation relations between the two neighboring countries.
ثناءIn the meantime,
.It advised the visit organized by the Iraqi economy, international cooperation with the Chamber of Industry and Trade of Eastern Azerbaijan in Tabriz and on the sidelines of the forum were the opening of a branch of the International Center for the Iraqi economy in Tehran.
.A formal ceremony attended by the Secretary General of the Iraqi economy, international centers and a number of delegations and the southern provinces were the words praised Yuehua enjoyed by the Islamic Republic of Iran. The selection of Mr. Yassin Abdel Karim director of the branch, Mr. Raad Abbas Khashlok Deputy Director, The Secretary-General of the status of the Iraqi economy, international extradition Shield Center to the Deputy Director of the Center in Tehran.
ان.In an interview with the (morning), Deputy Director of the Iraqi economy in the International Tehran Khashlok Mr. Raad Abbas, who affirmed that a great opportunity for businessmen and traders in a protected status in Iran to hold contacts with major Iranian companies and contract deals work and the signing of protocols of cooperation. He added that this status is important it will be extremely providing all required facilities needed by businessmen and traders Iraqis who visit the cities of Tehran and other Islamic Republic of Iran, where will their various services. He said : The center will hold bilateral talks between the ages of the two countries and traders, and contributes to the selection of companies certified and approved in Iran. especially official with the aim of ensuring the rights of businessmen and merchants Iraqis. Khashlok also said : Businessmen and traders Iraqis will find all facilities provided by the Center branch in Tehran and develop programs visits viewing and organizing meetings with the major Iranian companies. Among other services provided by the obstacles that have faced businessmen Iraqis in the area of providing adequate housing and Allg e and the Internet, communications and resolve any problems in the area of trade dealings. He explained that the center would register businessmen, traders and major Iranian companies as members of the center would have priority in the area of employment contracts for the reconstruction and trade. Rad - that a number of businessmen, traders and Lovo d official from the southern governorates made contacts with the Branch Center in Tehran to facilitate the tasks of the conclusion of contracts and attract Iranian investments there. He confirmed the existence of a genuine desire for Iranian companies to contribute to the campaigns of the reconstruction of Iraq, especially in the southern governorates, which enjoy a good security and good investment environment. Deputy Director of the Center for only branch Bolivia Iraqi international in Tehran pointed to the need to take advantage of the new investment law which made it easier for the private sector contracts and contacts in the field of a partnership with the global investment companies.


ÔÈßÉ ÇáÒæÑÇÁ ÇáÃÚáÇãíÉ - ÇÝÊÊÇÍ ÝÑÚ áãÑßÒ ÇáÇÞÊÕÇÏ ÇáÚÑÇÞí ÇáÏæáí Ýí ØåÑÇä