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

ORDINARYSEAWOMAN:

Well, I didn't get the reval for my birthday....and I was really hoping I wouldn't have to go back to work for the weasel, but the ship comes out of the yards tomorrow and I go back to putting on my uniform every day.

I will really enjoy telling the captain that I no longer need to work, that he has 3 days to find my replacement....and that final walk down the gangway....that will be priceless!!!

Dang it...RV THIS WEEK!!!

Hold on Sweetie: it isn't over with yet. When the dinar r/v, (and it WILL) I wish I were there to walk down that gangway with you and I, too, would salute the Captain and I would give him a dinar for you

Just to let everyone Know---I wnt to BofA today to see if they were selling or Buying IQD. the girl looked up Paperwork with currency being exchanged with BofA ---IQD was not on the list. Looks like its a short trip up the turnpike to Princeton to the Nearest Chase Bank. BOB

Originally Posted by DayDream

Listening to the news this morning there was a comment tacked onto this...

Bush stating "That there would be a surge in the number of troops in Iraq"....

also a surge in Iraqi Politics.

Wonder what he meant?

Cheers!
DayDream

We'll probably get a corrected version of what he really meant from Tony Snow after they figure it out :)

Bush seeks advice on new course in Iraq, (continued!)

Bush seeks advice on new course in Iraq - Yahoo! News

(Same article above, but with a slight twist!)

Later, in the Oval Office, he was to seek advice from a handful of experts, including Stephen Biddle of the Council of Foreign Relations, Eliot Cohen of the School of Advanced International Studies and three retired Army generals: Wayne Downing, Jack Keane and Barry McCaffrey.

White House press secretary Tony Snow said Bush hoped to be able to announce his decisions by Christmas but that the timing could slip. "It's something that we would like to see, but I'm not going to promise it," Snow said.

Administration officials are weighing options, including a short-term buildup of troops and a revamped approach to dealing with Iraq's warring factions.

Whatever the choice, Bush is out to show he isn't acting alone. He is seeking advice at home and abroad — brought on by a humbling election in which voters handed control of Congress to Democrats and made clear their dissatisfaction with progress in Iraq.

On Tuesday, Bush will meet via video conference with senior military commanders and the U.S. ambassador to Iraq, Zalmay Khalilzad, and then host Iraqi Vice President Tariq al-Hashemi in the Oval Office. On Wednesday, he meets with officials at the Pentagon.

Last week, Bush met with Shiite political leader Abdul-Aziz al-Hakim, members of the bipartisan Iraq Study Group, British Prime Ministe Tony Blair, plus lawmakers from the armed services, intelligence and foreign relations committees.

"This is unusually intensive, as you would expect, given the situation we find ourselves in," White House counselor Dan Bartlett said Sunday.

"It's a very complex set of issues, ranging from military strategy and tactical decisions to economic and political and diplomatic matters," Bartlett said. "All these elements coming together will help him sort through all the different interests and recommendations, and then pull it together for a comprehensive decision and announcement."

The urgency and the pressure are rising.

Republican Sen. Trent Lott (news, bio, voting record) of Mississippi, the incoming No. 2 GOP leader, said Sunday: "The president this week is going to be meeting with any and everybody he can talk to."

(We need a representative from the ROL Club, Neno, you can volunteer to talk with the president about this RV situation; we need to get this as first course of action, as he is looking to talk with "everybody he can talk to!")

Hey everybody....are we still thinking this week for our reval....I just popped in for a few minutes but will be back digging up info. later....just thought I would see where everybody stands.

Originally Posted by CharmedPiper

Hey everybody....are we still thinking this week for our reval....I just popped in for a few minutes but will be back digging up info. later....just thought I would see where everybody stands.

FARM JIG ALL THE WAY TO DEC. 14TH!!!!!!!!!!!

Originally Posted by ordinaryseawoman

Well, I didn't get the reval for my birthday....and I was really hoping I wouldn't have to go back to work for the weasel, but the ship comes out of the yards tomorrow and I go back to putting on my uniform every day.

I will really enjoy telling the captain that I no longer need to work, that he has 3 days to find my replacement....and that final walk down the gangway....that will be priceless!!!

Dang it...RV THIS WEEK!!!

I am with ya OSW. I am hoping for a really Merry Facking Christmas myself!!

BAGHDAD, Dec 11 (Reuters) - Iraq's government expects the dinar to strengthen by 13 percent against the dollar by early 2007 after raising interest rates to limit the use of dollars in the economy and stem inflation, the country's finance minister said.

Minister Bayan Jabor told Reuters on Monday that the government has targeted an exchange rate to reach 1,260 dinars to the dollar in the first three months of 2007 from the current level of 1,500 to the dollar.

The 2007 $41 billion budget assumes an exchange rate of 1,260 dinars to the dollar, he said, adding the cabinet would discuss the draft budget on Saturday before hopefully sending it to parliament next week.

"There is an expected increase in the value of the dinar. The exchange rate is expected to drop from 1,500 dinars to the dollar to 1,260 in early 2007," he said in an interview.

"We will calculate the budget based on 1,260 dinars to the dollar and based on 50 dollars per barrel (of oil) and production of 1.7 million barrels per day.

"The central bank has started increasing the interest rate from 12 percent and it has now reached 16 percent."

Jabor said there were no immediate plans to raise interest rates further. The central bank increased its main interest rate to 16 percent from 12 percent on Nov. 8, according to the bank's Web site.

He said the aim of raising interest rates was to strengthen the dinar to fight dollarisation -- the use of dollars on a daily basis alongside the local dinar currency -- to stem high inflation and boost Iraqis' confidence in the domestic currency.

"It is to fight dollarisation. Every economy that depends on the dollar is considered weak," he said.

"Now I can say that Iraqis should use dinars instead of dollars. When we increase the value of the dinar it will help ease inflation, which is now at 56 percent. We expect inflation will decrease," he said.

Iraq's inflation rate hit 76.6 percent in August.

But sectarian violence is claiming the lives of more than 100 Iraqis a day and threatening to push the country into civil war. The daily violence has scared off foreign investments in the oil rich country.

A recent UN report said there was growing unemployment and poverty rates in Iraq. Corruption is endemic and state owned industries are inefficient. Oil is the main source of revenues but oil sector is suffering from years of mismanagement and violence.

"There is also a psychological factor -- Iraqis need to trust their currency when it is stable or strengthening."

The International Monetary Fund, which has backed Baghdad with a $685 million standby credit agreement, has also warned that rising inflation could undermine economic well-being and hinder the goal of improving the welfare of ordinary Iraqis.

Another problem facing the government is the high rate of unemployment, mainly among the young. Officials say the unemployment rate is between 30 and 40 percent.

Jabor said he was not worried by possible negative consequences of strengthening the dinar because the Central Bank had enough reserves to support the dinar.

"The dinar is strong -- the central bank is one of the best central banks in the region except for those in the Gulf. We have reserves of $15 billion in foreign currency other than gold, and it is only to support the dinar."

http://today.reuters.co.uk/news/Cris...-R5-Alertnet-5

Originally Posted by Adster

BAGHDAD, Dec 11 (Reuters) - Iraq's government expects the dinar to strengthen by 13 percent against the dollar by early 2007 after raising interest rates to limit the use of dollars in the economy and stem inflation, the country's finance minister said.

Minister Bayan Jabor told Reuters on Monday that the government has targeted an exchange rate to reach 1,260 dinars to the dollar in the first three months of 2007 from the current level of 1,500 to the dollar.

The 2007 $41 billion budget assumes an exchange rate of 1,260 dinars to the dollar, he said, adding the cabinet would discuss the draft budget on Saturday before hopefully sending it to parliament next week.

"There is an expected increase in the value of the dinar. The exchange rate is expected to drop from 1,500 dinars to the dollar to 1,260 in early 2007," he said in an interview.

"We will calculate the budget based on 1,260 dinars to the dollar and based on 50 dollars per barrel (of oil) and production of 1.7 million barrels per day.

"The central bank has started increasing the interest rate from 12 percent and it has now reached 16 percent."

Jabor said there were no immediate plans to raise interest rates further. The central bank increased its main interest rate to 16 percent from 12 percent on Nov. 8, according to the bank's Web site.

He said the aim of raising interest rates was to strengthen the dinar to fight dollarisation -- the use of dollars on a daily basis alongside the local dinar currency -- to stem high inflation and boost Iraqis' confidence in the domestic currency.

"It is to fight dollarisation. Every economy that depends on the dollar is considered weak," he said.

"Now I can say that Iraqis should use dinars instead of dollars. When we increase the value of the dinar it will help ease inflation, which is now at 56 percent. We expect inflation will decrease," he said.

Iraq's inflation rate hit 76.6 percent in August.

But sectarian violence is claiming the lives of more than 100 Iraqis a day and threatening to push the country into civil war. The daily violence has scared off foreign investments in the oil rich country.

A recent UN report said there was growing unemployment and poverty rates in Iraq. Corruption is endemic and state owned industries are inefficient. Oil is the main source of revenues but oil sector is suffering from years of mismanagement and violence.

"There is also a psychological factor -- Iraqis need to trust their currency when it is stable or strengthening."

The International Monetary Fund, which has backed Baghdad with a $685 million standby credit agreement, has also warned that rising inflation could undermine economic well-being and hinder the goal of improving the welfare of ordinary Iraqis.

Another problem facing the government is the high rate of unemployment, mainly among the young. Officials say the unemployment rate is between 30 and 40 percent.

Jabor said he was not worried by possible negative consequences of strengthening the dinar because the Central Bank had enough reserves to support the dinar.

"The dinar is strong -- the central bank is one of the best central banks in the region except for those in the Gulf. We have reserves of $15 billion in foreign currency other than gold, and it is only to support the dinar."

http://today.reuters.co.uk/news/Cris...-R5-Alertnet-5

I'M BLIND!!! ...Ok i recall last week an article saying 10% and now this one says 13%......get your facts straight people, just tell the truth it will set you free! Not to mention freeing up my debt as well, LOL

Originally Posted by Adster

BAGHDAD, Dec 11 (Reuters) - Iraq's government expects the dinar to strengthen by 13 percent against the dollar by early 2007 after raising interest rates to limit the use of dollars in the economy and stem inflation, the country's finance minister said.

Minister Bayan Jabor told Reuters on Monday that the government has targeted an exchange rate to reach 1,260 dinars to the dollar in the first three months of 2007 from the current level of 1,500 to the dollar.

The 2007 $41 billion budget assumes an exchange rate of 1,260 dinars to the dollar, he said, adding the cabinet would discuss the draft budget on Saturday before hopefully sending it to parliament next week.

"There is an expected increase in the value of the dinar. The exchange rate is expected to drop from 1,500 dinars to the dollar to 1,260 in early 2007," he said in an interview.

"We will calculate the budget based on 1,260 dinars to the dollar and based on 50 dollars per barrel (of oil) and production of 1.7 million barrels per day.

"The central bank has started increasing the interest rate from 12 percent and it has now reached 16 percent."

Jabor said there were no immediate plans to raise interest rates further. The central bank increased its main interest rate to 16 percent from 12 percent on Nov. 8, according to the bank's Web site.

He said the aim of raising interest rates was to strengthen the dinar to fight dollarisation -- the use of dollars on a daily basis alongside the local dinar currency -- to stem high inflation and boost Iraqis' confidence in the domestic currency.

"It is to fight dollarisation. Every economy that depends on the dollar is considered weak," he said.

"Now I can say that Iraqis should use dinars instead of dollars. When we increase the value of the dinar it will help ease inflation, which is now at 56 percent. We expect inflation will decrease," he said.

Iraq's inflation rate hit 76.6 percent in August.

But sectarian violence is claiming the lives of more than 100 Iraqis a day and threatening to push the country into civil war. The daily violence has scared off foreign investments in the oil rich country.

A recent UN report said there was growing unemployment and poverty rates in Iraq. Corruption is endemic and state owned industries are inefficient. Oil is the main source of revenues but oil sector is suffering from years of mismanagement and violence.

"There is also a psychological factor -- Iraqis need to trust their currency when it is stable or strengthening."

The International Monetary Fund, which has backed Baghdad with a $685 million standby credit agreement, has also warned that rising inflation could undermine economic well-being and hinder the goal of improving the welfare of ordinary Iraqis.

Another problem facing the government is the high rate of unemployment, mainly among the young. Officials say the unemployment rate is between 30 and 40 percent.

Jabor said he was not worried by possible negative consequences of strengthening the dinar because the Central Bank had enough reserves to support the dinar.

"The dinar is strong -- the central bank is one of the best central banks in the region except for those in the Gulf. We have reserves of $15 billion in foreign currency other than gold, and it is only to support the dinar."

http://today.reuters.co.uk/news/Cris...-R5-Alertnet-5

i hope the jokeing cause at that rate it will take another year to be worth a penny to the dollar