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

Iran, Iraq sign telecom agreement - Worldnews.com

Originally Posted by Offshore-Wealth.com

Once this revalue is restored to former level, and with the FIL and now HCL in place, unemployment issues are resolved as billions start to flow into Iraq for rebuilding oil infrastructure which has been totally neglected by Saddam's regime. We see this already happening in Kurdistan, so the model is set to guide Baghdad into the future. It is all about money in Iraq, and although nothing will totally stop the violence, the only chance there is to make it livable for the majority is to revalue and give the economy the shot in the arm that is needed. Sure is fun to discuss all these issues, and especially with the analysts like yourself Wm. (g)

Happy Holiday Season to all, Mike

There you go again...your making me completely.... But I do love a mystery.

Cheers!
DayDream

where is the offical document that says they want to extend this to Dec.2008?
(I didn't find it)

Originally Posted by exitstrategy

IMO the death blow would be not dealing with domestic inflation and the security issues. The CBI is doing all the right things to check the inflation. It's just going to take a bit of time to see the real effects in the economy. The other shoe of this scenario is the security issue. The main reason for the inflation rise is the lack of commodities in the local markets. Until goods and services can flow freely in the economy, inflation will continue to be a problem.
Funny that Bush would delay his press conference to announce the new strategy for Iraq until after Maliki convenes the National Reconciliation Conference on the 16th. All the while, Maliki has postponed the NRC until he could conclude the details of the ICI. Maliki now has a bargaining chip with the political opposition in his government.

Good points,

I agree, this issue of inflation is totally related to the lack of refined oil products within the borders of Iraq, hence, they have to purchase gas and fuel from neighbors with a weak currency in comparison, so this causes current inflation issues. These types of inflation cannot be controled with higher interest rates or taking dinar from market to increase value a few percent, the need a shot in the arm strategy, and that means only one thing, a revalue of .30 range to start.

Bush delayed press conference because he is totally lost and cannot come up with a decision one way or the other without going to Daddy and all his cronies for advice. This is getting real interesting to see which way Bush will sway, but he has to set the tone that Maliki must disarm Sadr militia immediately. If Maliki does not listen, then it is time for a change, and judging from meeting with Shiite leader al-Hakim last week, sure makes you wonder if the are setting Maliki up for fall.

Happy Holiday Season to all, Mike

Originally Posted by Offshore-Wealth.com

Good points,

No doubt in my mind what we are seeing is an excersise in stabilty. What was needed to demonstrate the economic soundness of dinar is that it is stable in all situations. It has been, and now CBI is proving this as they apply standard and accepted strategies to increase dinar value, and it is working just as they suspected it would. The stated what they were going to do, and they did it, and the results are as one would expect, so this is nothing more than a dog and pony show for all the world to see as proof they can handle increase.

Now on the flip side, we know why they are doing what they are doing, to control inflation which is what this move was designed to do as Wm, has so well pointed out for us in his posts. This to is a dog and pony show in my opinion to ultimately justify the revalue as we already see that all the other tried and true economic strategies have not worked. They raised interest rates several times, to no avail, inflation went higher again. Now we see value of dinar being manipulated up, and again, no impact on inflation.

This is to show the world that all responsible economic strategies have been implemented without the desired results of bringing down inflation as Iraq's situation is totally different than all other countries, and this again is more for show than go. As I see it, we are simply seeing a responsible well established strategy to control inflation being used with little or no results. This clears the path to the real solution we have all been waiting on, a revalue, a virtual shot in the arm, and no one can look back and say that they should have tried raising rates first, removing dinar to force up value, etc., for they have done all they could, and it clearly did not work. This is how unique a situation Iraq is in, so hang on, I see all this as a positive.

Happy Holiday Season to all, Mike

Thanks, Mike. I also see it as a call to all the big boys to bring their toys back to their own sandbox before it's too late.

Originally Posted by Hope Full

where is the offical document that says they want to extend this to Dec.2008?
(I didn't find it)

It was extended until Dec 2007. Sorry no link but I found this in one of my past posts.....

United Nations S/RES/1723 (2006)
Security Council
Distr.: General
28 November 2006
06-63235 (E)
*0663235*
Resolution 1723 (2006)
Adopted by the Security Council at its 5574th meeting on
28 November 2006
The Security Council,
Welcoming the formation of a national unity government in Iraq with a detailed
political, economic and security programme and a strong national reconciliation
agenda and looking forward to the day Iraqi forces assume full responsibility for the
maintenance of security and stability in their country, thus allowing the completion of the multinational force mandate and the end of its presence in Iraq, Welcoming the progress made to date in the training and equipping of Iraqi security forces as well as in the transfer of security responsibilities to those forces in Muthanna and Dhi Qar provinces and looking forward to the continuation of that process during 2007, Recalling all of its previous relevant resolutions on Iraq, Reaffirming the independence, sovereignty, unity, and territorial integrity of Iraq, Reaffirming also the right of the Iraqi people freely to determine their own political future and control their own national resources, Welcoming the continuing work of the Government of Iraq towards a federal, democratic, pluralistic, and unified Iraq, in which there is full respect for human rights, Welcoming the vital role played by the Government of Iraq in continuing to promote national dialogue and reconciliation in pursuit of an atmosphere in which sectarianism is totally rejected, including the National Reconciliation Plan announced by Iraqi Prime Minister al-Maliki, stressing the importance of the rapid implementation of the plan, and reaffirming the willingness of the international community to work closely with the Government of Iraq to assist these reconciliation efforts, Recognizing the International Compact with Iraq, an initiative of the Government of Iraq to create a new partnership with the international community and to build a strong framework for Iraq’s continued political, security and economic transformation and integration into the regional and global economy, and
welcoming the important role that the United Nations is playing by jointly chairing the Compact with the Government of Iraq, S/RES/1723 (2006)
2 06-63235 Calling upon the international community, particularly countries in the region and Iraq’s neighbours, to support the Iraqi people in their pursuit of peace, stability, security, democracy, and prosperity, and noting that the successful implementation of this resolution will contribute to regional stability, Demanding those who use violence in an attempt to subvert the political process should lay down their arms and participate in the political process, and encouraging the Government of Iraq to continue to engage with all those who renounce violence, Reaffirming that acts of terrorism must not be allowed to disrupt Iraq’s political and economic transition, and further reaffirming the obligations of Member States under resolution 1618 (2005) of 4 August 2005 and other relevant resolutions and international conventions with respect, inter alia, to terrorist activities in and from Iraq or against its citizens, Recognizing the request conveyed in the letter of 11 November 2006 from the Prime Minister of Iraq to the President of the Council, which is annexed to this resolution, to retain the presence of the multinational force in Iraq, and affirming the common goals therein: Iraqi assumption of recruiting, training, equipping, and arming of the Iraqi Security Forces; Iraqi assumption of command and control over Iraqi forces; and the transfer of responsibility for security to the Government of Iraq, Recognizing the importance of consent of the sovereign government of Iraq for
the presence of the multinational force and of close coordination and partnership between the multinational force and that government,
Welcoming the willingness of the multinational force to continue efforts to
contribute to the maintenance of security and stability in Iraq, including
participating in the provision of humanitarian and reconstruction assistance, as described in the letter of 17 November 2006 from the United States Secretary of State to the President of the Council, which is annexed to this resolution, Recognizing the tasks and arrangements set out in letters annexed to resolution 1546 (2004) of 8 June 2004 and the cooperative implementation by the Government of Iraq and the multinational force of those arrangements, Affirming the importance for all forces promoting the maintenance of security and stability in Iraq to act in accordance with international law, including obligations under international humanitarian law, and to cooperate with the relevant international organizations, and welcoming their commitments in this regard, Recalling the establishment of the United Nations Assistance Mission for Iraq (UNAMI) on 14 August 2003, and affirming that the United Nations should continue to play a leading role in assisting the Iraqi people and government with further political and economic development, including advising and supporting the Government of Iraq, providing strong support in developing the International Compact with Iraq, contributing to coordination and delivery of reconstruction, development and humanitarian assistance, and promoting the protection of human rights, national reconciliation, as well as judicial and legal reform in order to
strengthen the rule of law in Iraq, Recognizing that international support for security and stability is essential to the well-being of the people of Iraq as well as the ability of all concerned, including S/RES/1723 (2006) 06-63235 3
the United Nations, to carry out their work on behalf of the people of Iraq, and expressing appreciation for Member State contributions in this regard under resolution 1483 (2003), resolution 1511 (2003), resolution 1546 (2004) and resolution 1637 (2005), Recognizing that the Government of Iraq will continue to have the primary role in coordinating international assistance to Iraq and reaffirming the importance of international assistance and evelopment of the Iraqi economy and the importance of coordinated donor assistance, Recognizing the significant role of the Development Fund for Iraq and the International Advisory and Monitoring Board in helping the Government of Iraq to ensure that Iraq’s resources are being used transparently and equitably for the benefit of the people of Iraq,
Stressing the responsibility of the Iraqi authorities to undertake all appropriate
steps to prevent attacks on the diplomatic personnel accredited in Iraq in accordance with the Vienna Convention on Diplomatic Relations of 1961,
Determining that the situation in Iraq continues to constitute a threat to
international peace and security, Acting under Chapter VII of the Charter of the United Nations,

1. Notes that the presence of the multinational force in Iraq is at the request of the Government of Iraq and reaffirms the authorization for the multinational force as set forth in resolution 1546 (2004) and decides to extend the mandate of the multinational force as set forth in that resolution until 31 December 2007, taking into consideration the Iraqi Prime Minister’s letter dated 11 November 2006 and the United States Secretary of State’s letter dated 17 November 2006;

2. Decides further that the mandate for the multinational force shall be
reviewed at the request of the Government of Iraq or no later than 15 June 2007, and declares that it will terminate this mandate earlier if requested by the Government of Iraq;

3. Decides to extend until 31 December 2007 the arrangements established
in paragraph 20 of resolution 1483 (2003) for the depositing into the Development Fund for Iraq of proceeds from export sales of petroleum, petroleum products, and natural gas and the arrangements referred to in paragraph 12 of resolution 1483 (2003) and paragraph 24 of resolution 1546 (2004) for the monitoring of the Development Fund for Iraq by the International Advisory and Monitoring Board;

4. Decides further that the provisions in the above paragraph for the deposit
of proceeds into the Development Fund for Iraq and for the role of the International Advisory and Monitoring Board shall be reviewed at the request of the Government of Iraq or no later than 15 June 2007;

5. Requests that the Secretary-General continue to report to the Council on
UNAMI operations in Iraq on a quarterly basis;

6. Requests that the United States, on behalf of the multinational force,
continue to report to the Council on the efforts and progress of this force on a quarterly basis;

7. Decides to remain actively seized of the matter.


Cheers!
DayDream

Vice-President : "There is no option but success

(Voice of Iraq) - 12 - 13-2006
This issue was sent to a friend

The Republic of Iraq
The Office of the President
Press Office

News : Vice-President : "There is no option but success. President Bush : I am standing Professor Hashmi and importance for the future of Iraq
December 13, 2006

The President of the United States of America, George Bush, expressed his happiness to visit him with the Vice-President Tariq Al-Hashmi at the White House on Tuesday, 12-12-2006, and said, "I am pleased that met Iraqi Vice President once again, having met with him in Iraq earlier. Invited to come to Washington and I am aware of the extent of its position and its importance for the future of Iraq. "

President Bush added, "we have suffered Vice President Hashemi of the violence that has long loved his family and him, but in spite of the sorrow and pain that it has the desire to work for a united and peaceful Iraq can govern themselves, free Iraq will be an ally in the war against extremists and fundamentalists."

President Bush also added that the Vice-President informed him "of the latest developments and the horrible acts of violence that occur in some suburbs of Baghdad and spoke frankly about the suffering of innocent families, and express sadness for the innocent people of the perception of violence and murder at the hands of extremists and murderers.

And Bush stressed, saying "Our assisting the Iraqi government in dealing these extremists and murderers and the support of the vast majority of Iraqis moderates seeking peace."

And Bush's new emphasis, "My message to you today and to the Iraqi people is that we want your help, and help your government to be effective, we want your government to achieve its promises." He said the Vice-President of the Republic "As the leader of one of the components of the Iraqi people for many Commander of the year. You are committed to your government, consisting of Shiites and Sunni and Kurds and the rest of the components of Iraqi society. Everyone that they will help us in reaching peace, and pay tribute to your courage again. "

On the other hand, the Vice-President of the Republic thanked the President for the invitation to visit Washington and said, "that this call had a real positive message to the Iraqi people that the American administration and while reviewing its strategy, are looking for balance and equitable analysis."
, Added the Hashemite "This visit comes after the visit of Mr. Hakim, and I would like to express my appreciation to the extent of the unique commitment to President Bush, who could not be forgotten when he said, continued by saying that we are committed to the success of the democratic experience in Iraq, and I share his visions and ambition that there is no other way - success in Iraq, we have no other choice in Iraq - achieve this success, and the help of our friends, President Bush and the American administration, we will work together to achieve this success in the foreseeable future."

And The Vice-President of the Republic that there is a real opportunity and a great out of the current impasse, and added, "It is difficult times that faced by the Iraqis at the present time, but there is light at the end of the tunnel, but we need the good will and strong resolve such owned by President Bush, there will be a chance of success in Iraq.

Seal and Vice President Tariq Al-Hashmi, saying, "my conversations and my discussions were positive and frank and genuine, we have talked about the main issues, leaving the United States with great hope and great that our friends in Washington are very anxious to help us in these very difficult times and achieve the success that the long-awaited. Whatever the sacrifices and the sacrifices of my family sacrifices the country, we have no other choice but to maintain this momentum and strive to achieve this very successful creation of God. "

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.

Caldwell : reservations Talabani ... Not binding on Bush

(Voice of Iraq) - 12 - 13-2006
This issue was sent to a friend

Caldwell : Talabani reservations on the report of the Baker-Hamilton is not bound to Bush
By Hossam Shahamani
Baghdad - (Voices of Iraq)

Said General William Caldwell, the spokesman for the multinational forces in Iraq, said that the recommendations of Iraqi President Jalal Talabani made by the American President George Bush on the recommendations of the Baker-Hamilton, especially with regard to training the Iraqi army and the formation of the Iraqi police are not binding on the United States Administration.
Caldwell added in a press conference held in Baghdad today, Wednesday, we understand that "President Talabani had reservations and submitted to President Bush and recommendations to the president and not binding on him."

Caldwell did not mention when the Taliban these reservations to Bush, and how to make.

He criticized the Taliban last Sunday the way they were training the Iraqi army and the composition of the police officers under the supervision of foreigners, describing it as "a transition from failure to failure."

He said the Iraqi president in a press conference, "If the Iraqi army was placed under the control of foreign officers, we will not accept this, it must be our army under the leadership of the Prime Minister who is the commander-in-chief of the armed forces, which would be of the army and not the officers who come from abroad, I am sure that Prime Minister Maliki recognizes insist on the security file, and the army was placed under his leadership."

He added, "the possibility of coalition forces to support the Iraqi army to fight terrorism and help us to buy some weapons, we can buy weapons, we can protect our country from foreign interventions."

Talabani's statements came following a report on the Baker-Hamilton Alazmi how to deal with Iraq.

The committee of the Republican and Democratic parties, headed by former Secretary of State James Baker, presented a report on 6 of this month (79) contains a recommendation on rescue the situation in Iraq and review in the American strategy in Iraq and included a threat to cut off support for the Iraqi government in the absence of its rapid action to improve the situation in Iraq.
U p

Originally Posted by Socata 850

Number of banks 10 -----
Auction price selling dinar / US $ 1414 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 17.125.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 17.125.000 -----
Total offers for selling (US $) ------

Goooooooooooooood Morning RolClub !!

Sorry I'm late today, not feeling well these days.


1. The dinar to the dollar is down 2 more points today from 1416 to 1414

2. Another $17,125,000 (net) worth of dinars, (IQD 24,214,750,000) out of circulation

3. 10 banks participating.

4. 26th auction since the beginning of CBI's reval plan

5. 43 days into the CBI's reval plan.

6. 1,237,194,547,000 dinars pulled from circulation !!

7. NO Dinars back into circulation for the 3rd day in a row

8. 63 dinar change since Nov 1st (baseline was 1477) 4.265% increase in value of the dinar since beginning of reval plan

Just trying to figure this thing out....it seems since Nov 2 we have been in a drop in the dinar. Running from 1 to 3 dinar per auction. It's almost like mixing paint, just a little drop at a time and then see what you get. I wonder if this drop will increse to 4 and 5 an auction and hopefully even more per auction in the near future? It does seem that the Iraqis are testing the waters between auctions. Have'nt posted in a while, I,ve been lurking and reading threads. Also noticed a little hostility in some of the threads. Seems strange that someone would invest in something and turn around and trash it. I personally would not invest in something and not have faith in it. Be it a good investment or not you must have faith.