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

Originally Posted by Beaniemom

Yep, we are too! Also, ordered from Chase yesterday...no problem!

Wouldn't it be a hoot if it revaled on Christmas morning? that would be one expensive item in their stockings,

Originally Posted by CharmedPiper

The economic event: Against the backdrop of higher prices of fuels.

An economic expert at the University of Basra, warns IMF conditions

Basra / Abdul Hussein Algarawi Against the background of the decision of the Ministry of Oil to raise the prices of oil derivatives, and the reflection on the life of the citizens ECONOMIC the President of the Basra Governorate Nassif Jassem Al-Abbadi, in a press conference held at the headquarters of the council expressed discomfort with the resolution - has surprised at the prices of oil derivatives, which impacted negatively on farmers and fishermen a for those who threatened to sit in front of oil corporations because they have been harmed by this action, He demanded the Oil Ministry to reconsider its decision to redress social strata affected by those increases and reflected on the overall living conditions of citizens and to provide information on the effects of low resolution and its adoption justified met (range), Dr. Abdul Jabbar Alafi Head of the Department of Economic Studies at the Center for the Study of Arabian Gulf University Basra, which deal with the decision, saying : Any attempt to raise the prices of commodities, whether food or fuel, in this particular situation will lead to more inflation, which eats up the excessive salaries of the low-income categories.

He noted that the Ministry's decision to raise the prices of fuel oil was the recommendation of the International Monetary Fund, which is characterized by the qualities of infertility treatment in developing countries, as is the case in Egypt and much of South America, what led to further social tensions and destroy the economy, as was the case in Brazil and Argentina.

The Head of the Department of Economic Studies at the Center for the Study of the Arabian Gulf University of Basra that the Iraqi citizen, he had hoped to improve the standard of living and economic conditions today suffers high prices in various goods, Alafi researcher warned the government of an attempt to raise prices once again stressing that such a step would lead to the creation of social and political upheavals.

It would also have a negative impact on the future of the Iraqi economy. explaining that we are a country and the oil prices should be moderate oil derivatives, which requires refrain from accepting the recommendations of the International Monetary Fund.

Any thoughts on this???

Not quite sure what to make of this. Especially the part on refraining from the acceptance of reccomendations of the IMF.

Very interesting piece!

Originally Posted by CharmedPiper

It was just announced on CNBC Squawk on the Streets that Iran has just announced that they will be dealing oil in EUROS now and not the dollar.....seems to be a trend.

Believe it or not, this is BIG news. IF, and I say IF, Iran pulls this off this will be bad for the dollar but good for our investment. Remember that Iran tried this last July. They said that as of July 1st they were going to deal in Euros. July 1st came and went and nothing happened. My guess is that the rest of the world was still too wary of the move to Euros and the US put pressure on it's trading partners not to go along with Iran's plan. If countries that purchase Iranian oil can only get it by trading in Euros, then they won't have such a need to stockpile dollars and they will attempt to convert their US dollar currency reserves into Euros. Warren Buffet has warned us about this and he is diversifing his holdings to take advantage of the decline of the dollar. The dinar could continue to rise against the dollar, not because the CBI is adjusting the rate, but because the dollar is droping in it's value against the dinar and other world currencies.

Originally Posted by Dinar Duchess

Do you have a link on this please, couldnt locate it...

O. North was on Hannity & Colmes last night talking to a Col. in Iraq. I did not catch the whole report, but this is what he might be talking about.

10B USD divided by 5M Iraqis (men, women, children) equals 2,000 USD each. If this is not good news, I don't know what is...

Originally Posted by Adster

Interesting reading back all the posts regarding the US holding dinars. Am sure this is true, I'd heard they have a stash of 50 billion dinars in the US Treasury. A rumour mind you but I'm sure they do have a stash of dinars. Of course this will be used in exchange for oil when the time comes.

What is a bit disturbing was watching the news last night on Channel 4 here in England and seeing reports of the 50 people killed in Baghdad, the biggest amount if casualties in November to date, the report from Washington implying the violence is out of control and of course the US pullout next spring. IF I didn't know better from all the positive news coming out from here and other forums I as a neutral would defo come to the conclusion Iraq is up the crapper bigtime.

Bad news sells right?, always has and I will never believe the US and rest of the debt forgiving countries will desert Iraq until it's more stabilised and their economy has been kickstarted. The world has an active interest in the success of Iraq, they need to have with the amount of oil involved and the necessity there always will be for it.

George Bush has declard that our troops will not be pulled out until the job is done, as long as the country of Iraq wants us there. The only ones crying out about our removal are some of the bleeding heart liberals in our own media, and other media sources around the world. They do that because the days "news" isn't "bad" enough to strike the sensational cord of people's hearts to get them to back the media's opinion. People need to understand...when they think they are in control, or it seems that they are, they have been put there by a power greater than themselves, not for their purposes, but for HIS The media has deceived themselves into believing their own lies. Now that isn't to say that everything that is put out doesn't have a "root" of truth, because some of it does, but, just like you wouldn't knowingly drink from a 55 gallon drum of water that has been tainted with anything that is poisonous, the news, if tainted with a "lie" shouldn't be swallowed either.

STS to install Hypercom card terminals in Iraq Posted:

Sunday, December 03, 2006

Dubai SFS Amman, a leading financial services company in Iraq, has selected STS, a leading regional integrated IT solutions provider, to install Hypercom's T2100 countertop card payment terminals and associated networking products at hundreds of retail locations throughout Iraq's 18 states.SFS Amman has selected Hypercom's 32-bit Optimum T2100 hand-over countertop terminal because of its compliance with EMV high security smart card standards, its ability to perform both smart card and loyalty card functions quickly and simultaneously at the point-of-sale (POS), and Hypercom's ability to provide an end-to-end solution, including a customised transaction communications network with associated management software, said an official spokesman.'We are using Hypercom's card payment terminals, software, networking technology and transaction communications capabilities to put in place the country's first point-of-sale network. We fully anticipate signing up several thousand merchant locations as we move forward, and the potential for growth is significant,' said chairman of SFS Amman Kenny Zair.Hypercom maintains a network of over 36 distributors and integration partners throughout Europe, the Middle East and Africa (EMEA), in addition to nearly a dozen service locations, as well as R&D centres in Scotland, Sweden, Russia and Latvia, with ongoing software development to meet the multi-application requirements of EMEA customers.The Optimum T2100 is a high-speed 32-bit EMV 4.0 and VISA PED-certified device with an integrated EMV-compliant smart card reader, built-in printer, large memory to accommodate multiple applications, support for multiple languages and currencies, hand-over countertop design and graphical interface that guides customers through transactions with clear prompts.TradeArabia News Service

STS to install Hypercom card terminals in Iraq - Middle East Business news related to travel, food, hotel, real estate, health, oil and more

Originally Posted by webinvestor

Correct. Plus, going from 1430:1 to 1425:1 (for example) is a around a 1% move while going from 30:1 to 25:1 is a 20% move. That kind of action doesn't happen in freely traded forex markets.

Everyone (CBI, GoI, international community) wants a stablely priced dinar.

Anything from a 1 - 2% per day would be considered normal trading activity. However, consistantly going up 2% everyday is abnormal...

This situation in Iraq is anything but "NORMAL". There is no way to apply "NORMAL" rules of operation to this.

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.

Couldn't have said it better myself , Face it they haven't covered their tracks very well and if we can see through this Charade soon the real players will also. without a parity RV all their concerns come home to roost

Originally Posted by CharmedPiper

STS to install Hypercom card terminals in Iraq Posted:

Sunday, December 03, 2006

Dubai SFS Amman, a leading financial services company in Iraq, has selected STS, a leading regional integrated IT solutions provider, to install Hypercom's T2100 countertop card payment terminals and associated networking products at hundreds of retail locations throughout Iraq's 18 states.SFS Amman has selected Hypercom's 32-bit Optimum T2100 hand-over countertop terminal because of its compliance with EMV high security smart card standards, its ability to perform both smart card and loyalty card functions quickly and simultaneously at the point-of-sale (POS), and Hypercom's ability to provide an end-to-end solution, including a customised transaction communications network with associated management software, said an official spokesman.'We are using Hypercom's card payment terminals, software, networking technology and transaction communications capabilities to put in place the country's first point-of-sale network. We fully anticipate signing up several thousand merchant locations as we move forward, and the potential for growth is significant,' said chairman of SFS Amman Kenny Zair.Hypercom maintains a network of over 36 distributors and integration partners throughout Europe, the Middle East and Africa (EMEA), in addition to nearly a dozen service locations, as well as R&D centres in Scotland, Sweden, Russia and Latvia, with ongoing software development to meet the multi-application requirements of EMEA customers.The Optimum T2100 is a high-speed 32-bit EMV 4.0 and VISA PED-certified device with an integrated EMV-compliant smart card reader, built-in printer, large memory to accommodate multiple applications, support for multiple languages and currencies, hand-over countertop design and graphical interface that guides customers through transactions with clear prompts.TradeArabia News Service

STS to install Hypercom card terminals in Iraq - Middle East Business news related to travel, food, hotel, real estate, health, oil and more

Here is some more info on the T2100 that they plan on installing.

Optimum T2100 Features:
Ready for the next dimension of payment:
Powerful 32-bit RISC processor for high-speed transactions
Easy-to-use interface conforms to international standards
PED certified and EMV approved
12 Mb of memory accommodates multiple, separate applications
Supports multiple languages and currencies
Includes fast 3DES encryption
Graphics capable 15 line per second thermal printer
Easy to load jam-free printer
Easily supports various communication modules


The Optimum T2100 is an easy-to-use payment device that offers highly secure, ultra-fast processing. The T2100 features a 32-bit RISC processor, both magnetic stripe and chip card readers, graphical back-lit display and flexible communication modules to deliver fast transaction times. It is a truly unique combination of performance, security, reliability and ease of use, which is the cornerstone of the Optimum family.

Cost Effective:
Various communication modules, including V.22 bis, V.90, GSM/GPRS or ISDN ensure easy deployment of the device with existing networks
Intuitive, colour coded keypad and easily identifiable card reader slots withstands high volumes of traffic, while decreasing transaction times and improving customer throughput
Back-lit, graphic display is clear and easy to read, features configurable fonts and can also display logos for advertising providing the best possible guidance throughout the transaction while delivering a unique, low-cost marketing opportunity
Advanced software enables dynamic currency conversion with support of multiple languages and currencies

Performance:
Fast transaction times through 32-bit RISC processor which reduces communication costs
Increased marketing capabilities by displaying logos, icons and in-store messages on the display screen and receipts, which allows merchants to expand marketing possibilities at the POS and increase customer retention
Full featured, secure terminal management system including local or web-based options enables users to download terminal software safely and easily
Multiple, value-added applications can be implemented by merchants with 12Mb memory capacity that can support one single application with embedded rich features and functions or several independent application modules

Security:
PED approved device is fully compatible with global security and communications standards such as EMV
Fast 3DES for secure encryption and protection of valuable cardholder information with powerful processing engine
Tamper-proof architecture protects internal systems from invasion
Hand-over form factor facilitates fast and secure PIN entry


Whether you're looking for a reliable payment terminal, innovative, value-add technology, or a complete electronic transaction management system, Hypercom can deliver. Our product portfolio ranges from basic credit authorization to full transaction transport and more.

Hypercom is more than a one-stop shop for payment terminals, it's a provider of complete, end-to-end transaction solutions that expand the possibilities at the POS in ways that translate to greater profits.