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

Morning guys, how you all doing??? Anything doing overnight? Funny, there's a pattern same people on same times!

Well here we go again, another day on this ride on another wet and windy miserable day in England. So cheesed off with it, boy be great to get off this ride just to see some sun and heat!

Originally Posted by clintstella

For Adster:

Several context, all realating to the same thing really, as follows:

1. I' pissed off
2. I'm facked off
3. I'm fed up and I'm taking my ball home, you cheating twat!

In general terms "I've had enough of this shite".

Hope that helps.

My English chum knows me too well!

Originally Posted by Adster

Morning guys, how you all doing??? Anything doing overnight? Funny, there's a pattern same people on same times!

Well here we go again, another day on this ride on another wet and windy miserable day in England. So cheesed off with it, boy be great to get off this ride just to see some sun and heat!

Good morning, finally we got some snow over here! so im happy

Regarding todays auction, i belive we will see the same pattern as the last auctions, around 9 banks participate and X number of million taken out of circulation, and a drop with about 2-4 dinars.

coffe time

Originally Posted by Lakeway

Originally Posted by cigarman
Here's one for you, Next years budget is 42 billion dollars ( 59 trillion dinars ), how can they do that with only 20 trillion dinars printed? Answer, they can't!!!
THIS BABY IS GOING TO HIT BIG!!!!

Are we sure on this budget amount??

Is there a link?

Can we get some of you mathematicians to verify??

Great find Cigar!

This could be HUGE IMO!!

You make a valid point my friend Is there amybody that can do the calculations and give a possible value with these numbers

Originally Posted by Raditz

Good morning, finally we got some snow over here! so im happy

Regarding todays auction, i belive we will see the same pattern as the last auctions, around 9 banks participate and X number of million taken out of circulation, and a drop with about 2-4 dinars.

coffe time

Get those skis out Raddy! You have a coffee matey, we'll have a nice cup of English tea, loveeeeeeeeeeeeeeeeee it! Nothing like a hot cuppa on a wanky day!!!

You're correct, don't see anything major today, another 2 or 3 points drop, dollars going back to the banks......

Two things I'm looking out for in the next week, one is the oil law going before parliament, and secondly, any mention of the smaller denoms.....that's our biggest clue once we read/hear about them.

Originally Posted by Socata 850

Three hours to go. What will the surprise from the CBI be tomorrow? More of the same or that magical shift we've all been waiting for? At any rate we are one day closer to the REVAL !!

The re-val is in progress trial wise right now, Soc. CBI has said they will tightly control the monetary movement to help curb inflation and to begin a process of de-dollarization. The reserve bylaw means they could move the IQD from the current 1428 IQD to 1 USD all the way down to around 800 IQD to 1 USD in one single re-val. But during this trial period they have stated mutiple times it will be a gradual movement. This is the best way to monitor all the financial factors and see what type of impact it makes. The projection they have of 1345 IQD to 1 USD by years end would be an 8% increase in IQD value. One last factor besides inflation and de-dollarization would be to move the liquidity of the IQD from dealers (Ebay) into normal financial institutions (banks and maybe FOREX). Thus the answer is it will be a gradual movement most likely all the way into January. When they do reach the 8% the movements may become larger as we go on based on the surrounding economic factors. They also need full implementation of the just passed FIL plus the HCL. That's only the tip of the iceberg on this complex issue, but all the news seems to be pointing towards a huge payoff for us all down the train line.

Originally Posted by "GK"

Hmmm, let's see. As of 29 November, total oil sales was $29B. That's about an average of $2.6B per month. So let's say for the entire year of 2006, they made $32B. 30% of $32B is $9.6B. $9.6B divided by 12 = $800M per month that they're going to distribute to the Iraqis. At the current exchange rate of 1424/USD, $800M is worth 1,139,200,000,000 IQD per month that they're going to distribute. They're going to flood Iraq with IQDs at that rate, they're going to need the printing presses running. They're going to supply over 12T IQD in a year, that took them almost 3 years to circulate. Not gonna happen.

Amen to this. This also fits in yesterday with what I said about importing at a rate of 1430 for bigger/expensive purchases. There will not be enough dinars in circulation for this to happen and the fact they want to to go more to an 'electrical' and away from a 'cash basis society' tells me they won't print up more dinars.

cbi has updated

Announcement No.(821)

D.G. of Foreign Exchange Control

The 821 daily currency auction was held in the Central Bank of Iraq day Thursday 2006 / 12/ 7 so the results were as follows :

Details Notes
Number of banks 12 -----
Auction price selling dinar / US $ 1424 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 25.570.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 25.570.000 -----
Total offers for selling (US $) ------- -----

man... you people are fast...