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

Originally Posted by Alphamystic

This is dated July AND it says expected, not set in stone. We all know just how easy it is for them to change things.

no, in iraq 07/12/06 means dec. 7th. but we believe weve read this before as well.

Before I spend the rest of the evening watching "Pirates Of the Caribbean" that I promised I would do, I got just one thing to add. Everyone knows I listen to the Radio at work alday. KERA, BBC, and NPR. I have never heard this before. But three times today the Radio Waves talked briefly about the Foriegn Investments for Iraq. That they are figuring out How, What, and When, they are coming. I think this is Big News, when you hear it mentioned in the Media. Just Thought I would....Share....See You After The Movie.

Originally Posted by Wm.Knowles

The number 1345 is listed on the first and second reviews of the stand by aggreement from the IMF dated last July. If you will go to table 4, which by my printer is on page 17. This level is referred to as "exchange rate, end of period". I don't think this is a set in stone value. Its only a guideline. Thank you.

Yes thanks it is a guideline, from the IMF- what I am trying to establish is that CBI to my knowledge has not said that they WILL do this but many who are preaching this are saying that it comes from the CBI when in fact it does not.

Thanks
Mike

Originally Posted by shotgunsusie

how many times you seen them saying not for a couple months then it happens all of a sudden within a week or so? seems like they wouldnt be telling people when they are revaling the dinar coz it would cause the big money boys to pay attention too closely.

ive seen things in baghdad turn around in 24 hours, im still positive on the dec. reval. we know the 2007 budget is going to open with the revalued dinar price, theyve figured it in arleady. theyve told us as some have said before. this month before they take a break for the year.

SGS....do you know when they take their break for the year? I know I have read it somewhere but can't remember.

Thanks in advance.


Amanda

Originally Posted by Wm.Knowles

The number 1345 is listed on the first and second reviews of the stand by aggreement from the IMF dated last July. If you will go to table 4, which by my printer is on page 17. This level is referred to as "exchange rate, end of period". I don't think this is a set in stone value. Its only a guideline. Thank you.

correct it is listed as projected and if I'm reading it correct the SBA called for 1500.

http://www.imf.org/external/pubs/ft/...06/cr06301.pdf

I have been thinking recently(scary). Why would CPA want to do an initial 1 to 1 exchange for the old dinar and keep it at a rate of 1470 to the dollar when they could have just as easily done a 1500 old dinar to 1 new dinar exchange and have dollar parity. It would have cut down on inflation and helped with imports.
The CPA and IMF, while not knowing that violence would continue this long, knew that flooding the country with currency would encourage rampant inflation. They also knew that such a low exchange rate would be unfavorable to import and it was obvious even at the time that Iraq would be a country dependent on imports for quite some time.
All of this in conjunction with President Bush issuing a decree allowing foreign investment in Iraq, specifically mentioning currency, and Israel circumventing their laws and allowing their people to invest in Iraq (again, specifically currency), tells me that the only reason the rate was set so low was to initially bring in a large amount of foreign currency.
Therefore, currency speculation was accounted for before the first NID was printed and there is no way the dinar held by speculators will find there way back to Iraq, at least not immediately. I believe there will be a large rise in the value of the dinar because it was planned that way.

Okay, after all of that, can anyone tell me if the currency held by speculators and more importantly foreign governments is counted as part of that 6-9 trillion in circulation????

Originally Posted by neno

Before I spend the rest of the evening watching "Pirates Of the Caribbean" that I promised I would do, I got just one thing to add. Everyone knows I listen to the Radio at work alday. KERA, BBC, and NPR. I have never heard this before. But three times today the Radio Waves talked briefly about the Foriegn Investments for Iraq. That they are figuring out How, What, and When, they are coming. I think this is Big News, when you hear it mentioned in the Media. Just Thought I would....Share....See You After The Movie.

NOW THIS IS WHAT I CALL :

FARMMMMMMMMMMM
JIGGGGGGGGGGGGGG

Originally Posted by Amanda

SGS....do you know when they take their break for the year? I know I have read it somewhere but can't remember.

Thanks in advance.


Amanda

im not sure but i think it was mid way through the month last year. giving them 2 weeks before the start of the year.

Hi All, not posted in a while. But these articles talking about interest rates. How old are they. They keep talking about moving the rate from 10% to 12%. But early last month it was moved to 16%? And that ain't far from the 20%
http://www.cbiraq.org/To%20All%20Lic...20Banks_EN.doc

Also they only pay that amount interest on IQD deposits. Unless the website is wrong, they only pay 3% on USD deposits. http://www.cbiraq.org/Investment%20DEN.doc

You can all do the math, but especially with raising value of the dinar, it is much better for people/banks/companies to hold dinar in the bank than hold USD in the bank anywhere in the world.

Minister vows to beat ‘terror’ and reconstruct Iraq in 2007



Azzaman, December 7, 2006



The year 2007 will see the end of ‘terror’ in Iraq, return of stability and large-scale reconstruction, a cabinet minister claimed.



Finance Minister Baqer Solagh said the same year should see the value of the Iraqi dinar surging as a sign of a robust economy.



In a statement faxed to Azzaman, the minister said he would personally follow the implementation of projects that he hoped will see a drastic decline in unemployment.



The statement was released ahead of the publication of 2007 budget which Solagh said would secure the necessary financial resources to reconstruct the country.



“Next year will see a revolution in reconstruction which will check unemployment, defeat terror and consolidate security and stability in the new Iraq,” he said.



But he gave a gloomy picture of the pace of reconstruction in 2006 in which projects worth more than 2.5 billion dollars remain unimplemented due to security problems.



But the minister said he would see to it that all projects in the 2007 are carried out.



He gave no figures on money earmarked for reconstruction in 2007.




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