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

Originally Posted by PAn8tv

Saddam, aides to be executed immediately after verdict confirmed

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13 December 2006 (BBC Monitoring)

Iraqi judicial sources have said that the death sentences handed down against former Iraqi President Saddam Husayn and two of his aides in the Al-Dujayl case will be executed immediately after the Court of Appeal confirms the verdicts.

The sources added that the judiciary will study the appeal presented in the case of the former president to either endorse or nullify the verdict handed down against him; his half-brother Barzan Ibrahim al-Tikriti; and Awwad al-Bandar, head of the former Al-Thawrah [Revolution] Court.

The sources noted that the court is considering the possibility of executing Saddam, Barzan, and Al-Bandar simultaneously and on the same day

I wonder if one of the major networks will pick this up and put on Pay-Per-View??

I'd buy that for a dollar!

Originally Posted by H2O_Lover

LMAO ......... show me the the patented for the slogon ?

GOT DINAR?patent pending

Originally Posted by iswtnot

is this bad or good

IMO their slowness in doing things is BAD. I posted this a few days ago...

The IAMB overseeing the DFI ends 12-31-06. The Council of Ministers of Iraq sent a letter dated 10-22-06 to the IAMB agreeing to the formation of a committee of Financial Experts to oversee the DFI after ceasation of its mandate December 31st. These Financial Experts are from the Iraqi Government from what I can gather, headed by the President of the Board of Supreme Audit. It seems this group will be the oversight body and not the IAMB.

See Letter dated 10-22-06 to the IAMB

http://www.iamb.info/pdf/oversight_body103006.pdf

Also this article discussing this recommendation by the chairman of the IAMB

Iraq ready to oversee own oil sales beginning next Jan

Kuwait News Agency - 01 December, 2006

Secretary-General Kofi Annan told the Security Council on Thursday that he supports the transition of the International Advisory and Monitoring Board (IAMB)'s functions of overseeing the Development Fund for Iraq (DFI) to an Iraqi-constituted body, explaining that difficult conditions in Iraq have not allowed the oversight body to carry out its mandate.

"I am concerned that the conditions in Iraq have not allow the IAMB to carry out its work in the comprehensive fashion that I or the council would have wised. In these circumstances, I support the transition of the IAMB functions to an Iraqi-constituted body," Annan said in his letter to the council.

IAMB was set up by the council in 2003 to oversee the financial position of the DFI, which is the principal repository for the proceeds of oil export sales from Iraq, and make sure it is run in a transparent manner.

He said while he hoped that this might be possible at the end of 2006, "the council may wish to determine for itself the best timing for this transfer of responsibilities".

Annan acted upon recommendation of his representative in the IAMB Jean-Pierre Halbwachs. The board's other members are the Kuwaiti-based Arab Fund for Economic and Social Development, the International Monetary Fund, the World Bank and an Iraqi representative.

Annan conveyed to the council a letter Halbwachs wrote to him and in which he said the board met last October to discuss among other things the establishment by the Iraqi government of an oversight body to succeed the board at the end of 2006.

Halbwacks noted at the same time that Ernst and Young, a US Audit company the board hired to look into the DFI financial statements, presented a report covering the first six months of this year and in which it noted "progress in the financial control system, (but it) continues to be critical of the financial and accounting control systems".

"The overall control system needs to be further improved to be sufficiently effective," Halbwacks said in his letter.

He said the board was briefed by the President of the Iraqi Board of Supreme Audit (BSA) on progress in implementing earlier IAMB recommendations.

He noted that while IAMB welcomed the Iraqi government's implementation of the recommendations, it "continues to reiterate its concern that key actions, especially the installation of an oil metering system, needed to be comprehensive and were taking a long time to implement".

Halbwacks also noted that another audit company that reviewed US sole-sourced contracts reported a total of USD 22.4 million in unresolved amounts relating, among other things, to no evidence of goods received.

"In view of these findings, the IAMB recommended that the Iraqi government seek resolution with the US government concerning the use of resources of the DFI which might be in contradiction with the UN Security Council resolutions," Halbwacks said.

He recalled that the board's mandate expires later this year and "it is important to continue the oversight role over oil export sales ... and that an oversight body should be set up by the government of Iraq that would be independent, competent and professional, to ensure the continued oversight".

To assist in a smooth transition to an Iraqi oversight body, he added, the board formulated a set of recommendations on the modalities of such an oversight body and forwarded them to the Iraqi Prime Minister for consideration.

He said the Iraqi representative on the board informed the members in late October that the Iraqi council of Ministers approved the establishment of an Iraqi oversight body entitled "the Committee of Financial Experts," to be chaired by the President of BSA.

"The IAMB welcomed the establishment of the Committee of Financial Experts to continue the work of the IAMB upon its dissolution at the end of 2006," Halbwacks said.

Gulf in the Media

Because of this I'm under the impression that these Financial Experts who are from the Iraqi government will be in control of the DFI at the end of '06 when the IAMB mandate expires. Which is a GOOD thing. Everything done after that point is left to the discretion of the Iraqi Government. But the point being they will be in control of the oil derivitives, gold...etc after Dec 31, 06

Cheers!
DayDream

[QUOTE=Kevmo;148682]Maybe we will be better off in the U.S. to just hang on the our dinar. If this trend continues the dinar may be worth more than the dollar whether it RV's or not.

Don't forget. We bought the dinar when it was too cheap. If the dollar is at its historical lows, then maybe we should think about this a little more. Buying at historical lows and selling at historical highs is not a bad idea. Thank you.

Originally Posted by DayDream

I hope I'm not being out of line here but if Karinc has or can obtain a pay pal account...I for one wouldn't mind sending her a few dollars so that her children could have a Merry Christmas. Would anyone else? She could consider it a gift from her adopted Rolclub family. Just a thought.

Cheers!
DayDream

Although I will not use Paypal or electronic payment services for various reasons you can count me in by PM' ing mailing details.

Originally Posted by Wm.Knowles

Excellent Post! I especially like the part about the Kurds setting the model. Just like the post from WORF, these posts are really the best and rationale discussions in favor of an RV to at least the pre-war levels. Both are concerned about the effects of the passing of the FIL/HCL. Based on both posts, these give an excellent reason why they need to RV. As I said before, the CBI has been positioning itself in a predictable manner for just that. I understand what the gradualist are saying, either way times are exciting. Like everyone else who has been in this investment, I didn't buy dinar in Iraq with the idea that it was only going to appreciate a couple of percent a month. And, as stated earlier, the ME is so wealthy, just the Kuwaitis can buy the ISX should they want to. We know that they have bought huge amounts of dinar. Thank you.

If they wanted to control the ISX they would have a long time ago, the ISX is a joke as it stands.
http://www.isx-iq.net/page/daily-bulletin.htm

Cabinet allocated $ 2 billion investment budget of the Ministry of Electricity next year

Power stations stopped from working in Baiji

Baghdad-Tariq Al-Araji

The Council of Ministers has approved the allocation of $ 2 billion investment earmarked for the Ministry of Electricity to implement a number of projects in electricity production throughout the country, especially in the safe areas that led to a technical malfunction in the power station in Baiji to a complete halt.
He said Undersecretary of the Ministry of Electricity Senior Engineer Raad told the guard (morning) : The government ratified the allocation of two billion dollars to implement a number of productive projects and the transfer of energy in different regions of the country within the next year plan (2007) noting that this allocation is significantly compared with what was appropriated in the year (2006), which set at (800) million.

He added goalkeeper that most of the projects as an addendum units obstetric and build stations and the upgrading of the electrical network had not been implemented in the year (2006) so as to the circumstances of the difficult security and the reluctance of experts specialized personnel to travel to Baghdad to build a number of units obstetric and rehabilitate parts of them because of the security conditions, which led to the reluctance of the implementation of the investment plan for the year (2006), pointing out that the guide that lag in the implementation of the plan is not to exploit the sum of (800) million dollars allocated for the budget year (2006).

The undersecretary of the ministry that in the event of continued deterioration of the security situation and lack of backing by the ministries of interior and defense to protect employees of the electricity in the implementation of planned projects within the plan year (2007) it is expected the coming year to witness a modern addition projects stressing the direct entry in the implementation of projects in the safe areas.

On the other hand, an official source at the Ministry of Electricity in a press statement on the power plant thermal electric and gas Mobile in Baiji to technical malfunction led to a complete halt on the work.

He added that a modern hydroelectric been subjected to technical problems because of the military actions in the region noting that the subversive elements also targeted the line between the station and the area west of Baghdad, which resulted in a number of towers is a negative impact in the early hours of the processing power of citizens in the governorates of Anbar, Salah al-Din and Kirkuk.

ÌÑíÏÉ ÇáÕÈÇÍ - ãÌáÓ ÇáæÒÑÇÁ íÎÕÕ ãáíÇÑí ÏæáÇÑ ãíÒÇäíÉ ÇÓÊËãÇÑíÉ áæÒÇÑÉ ÇáßåÑÈÇÁ ÇáÚÇã ÇáãÞÈá

Can you imagine how these people feel about the limited electricity? I was without power for a week due to an ice storm and went bonkers!

Cheers!
DayDream

Originally Posted by DayDream

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

Cheers!
DayDream

I don't think we are going to get anything on that little nugget until Sunday!

Report: Iraq army plans Baghdad takeover in early 2007
Dec 13, 2006, 6:33 GMT

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New York - Iraq has presented the US with a plan for Iraqi troops to assume primary responsibility for security in Baghdad early next year, the New York Times reported Wednesday.

The report quoted Mowaffak al-Rubaie, Iraq's national security adviser, as saying that the plan was presented during the meeting in Amman, Jordan, on November 30 between US President George W Bush and Iraqi Prime Minister Nuri Kamal al-Maliki.

Under the plan, American troops would be shifted to the periphery of the capital and would focus on fighting the forces said to be backed by al-Qaeda and the Sunni-based insurgent organizations.

The Iraqi government's largely Shi'ite forces would take over the effort to quell sectarian tensions within the capital, posing a risk that they could crack down on Sunni neighbourhoods and force Sunnis out of the city, the paper said.

Originally Posted by Kevmo

Maybe we will be better off in the U.S. to just hang on the our dinar. If this trend continues the dinar may be worth more than the dollar whether it RV's or not.

THE NEW WORLD DISORDER
Analysts: Dollar collapse
would result in 'amero'
Think deep recession likely
regardless of Fed's actions
Posted: December 13, 2006
1:00 a.m. Eastern

By Jerome R. Corsi
© 2006 WorldNetDaily.com

Two analysts who have reconstructed money supply data after the Fed stopped publishing it argue a coming dollar collapse will set the stage for creating the amero as a North American currency to replace the dollar.

The reconstructed M3 data – the broadest measure of money – published on econometrician Gary Kuever's website, NowAndFutures.com, shows M3 increased at a rate of 11 percent in May, compared to 9 percent when the Federal Reserve quit publishing M3 data earlier this year.

Asked why the Fed decided to stop publishing M3 data, Kuever told WND, "The Fed probably wants to hide how much liquidity is being pumped into the market, and I expect the trend to keep pumping liquidity into the market will continue, especially since the economy is slowing down."

(Story continues below)

Why is this important?

"The trend line in my M3-plus-debt chart is staggering," Kuever said. "There has been a straight, long-term trend line of M3-plus-credit increasing since 2000. Long-term, we are creating inflation and the dollar has lost almost 98 percent of its value in the past 100 years."

Kuever, a retired investor, is concerned that with growing budget and trade deficits "the dollar could collapse."

"Especially if the Fed cannot increase rates, because we have already entered a recession," he said.

Analyst Gary Kuever's chart shows M3-plus-credit, short term, from May 2000 to September 2006

Bob Chapman, who issued a reconstructed M3 estimate to the 100,000 subscribers to his newsletter, "The International Forecaster", agrees.

"The world is awash in money and credit," Chapman told WND. "My numbers show M3 increasing at about a 10-percent rate right now."

Chapman believes the U.S. economy entered a recession in February. In his newsletter of Dec. 9 he predicted the Fed would hold interest rates at 5.25 percent.

"The Fed is in a very tough spot here," Chapman wrote, "If they raise rates, the real estate market will collapse, and if they lower rates, the dollar will collapse."

Meeting yesterday, the Federal Reserve Open Market Committee voted, as Chapman had predicted, to hold the overnight lending rates between banks steady at 5.25 percent. This was the fourth straight meeting the Fed had voted not to change rates. In its rate announcement, the Fed affirmed the economy had slowed.

Almost immediately after the announcement of the Fed's decision, the dollar weakened to a new 20-month low against the euro, with currency markets reportedly pricing in the expectation the Fed will be forced to lower rates next year to bolster the economy. Following the announcement by the Fed, the U.S. Dollar Index, or USDX, also dropped, with the dollar going below 83.

A dollar collapse is imminent, Chapman declared.

"Technicians studying the USDX think there is a support level for the dollar at 75, but I don't think so."

How low could the dollar go?

"If the dollar breaks through 78.33 on the USDX," Chapman answered, "my guess is the dollar will go through a 35-percent correction, which would put it at 55."

"The key in how low the dollar goes is the interest rates," Chapman told WND. "In January, the Fed is going to have to make a decision which way to go. If Fed rates go up, the dollar will hold in the 78.33 range, but the stock market and the economy will tank. If next year the Fed lowers rates to keep the economy from crashing, the bottom will fall out of the dollar, and I see it going as low as 55. Once the dollar hits bottom, it will take the stock market and the economy right with it anyway. The Fed is in a box they can't get out of."

As WND reported earlier this week, in an unusual move, the Bush administration is sending virtually the entire economic "A-team" to visit China for a "strategic economic dialogue" in Beijing Thursday and Friday. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are leading the delegation, along with five other cabinet-level officials, including Secretary of Commerce Carlos Gutierrez. Also in the delegation will be Labor Secretary Elaine Chao, Health and Human Services Secretary Mike Leavitt, Energy Secretary Sam Bodman, and U.S. Trade Representative Susan Schwab.

But Chapman doubts the trip will help the Fed to engineer a slow dollar slide.

"The Chinese are going to do what the Chinese want to do, not what we want them to do," he said. "I believe the Chinese are going to send Treasury Secretary Paulson and Fed Chairman Bernanke home packing, with little or nothing to show for the trip."

How severe will the coming dollar collapse be?

"People in the U.S. are going to be hit hard," Chapman warned. "In the severe recession we are entering now, Bush will argue that we have to form a North American Union to compete with the Euro."

"Creating the amero," Chapman explained, "will be presented to the American public as the administration's solution for dollar recovery. In the process of creating the amero, the Bush administration just abandons the dollar."

WorldNetDaily: Analysts: Dollar collapse would result in 'amero'

Good article,

I agree, and our currency thread is good place to stay on top of this topic.

http://www.rolclub.com/iraqi-dinar-d...ns-advice.html

Happy Holiday Season to all, Mike