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

The Office of the Vice-President denies Dr. Adel Abdel Mahdi, the attempt to assassinate

December 14, 2006December 14, 2006

Denied the Office of the Vice-President Abdel Mahdi Aldectoradl news that pointed to his entourage to the ceasefire. The office said that "some satellite channels broadcast news Mlfuga was allegedly parade Vice President Dr. Adel Abdel Mahdi to the armed attack and shooting at his convoy, and at a time when we deny this news and inter detailed, and we call on various media for accuracy and credibility in the transfer of the news, out of respect for the professional Press traditions and practice. "

Iraqi Presidency

President congratulates Alaizidin occasion of Eid fasting

December 14, 2006December 14, 2006

The President of the Republic, Jalal Talabani, congratulations to the community Alaezideh in Iraq, congratulating them for Christmas fasting (Day Ize), reads as follows : congratulations

The occasion of the Eid feast of fasting Aizidien (Eid Ize) offer heartfelt congratulations to our brothers and sisters Alaizidien inside the country and outside, who have always been a factor of stability and safety in the building of a new Iraq.

On this happy occasion, we renew our support in order to ensure all their legitimate rights in a democratic federal pluralistic Iraq.
And hoped for adherents of the ancient Kurdish religion all the best and success.

Jalal Talabani
President of the Republic of Iraq
14-12-2006"

Iraqi Presidency

Originally Posted by Socata 850

Number of banks 15 -----
Auction price selling dinar / US $ 1411 -----
Auction price buying dinar / US $ 1409 -----
Amount sold at auction price (US $) 60.250.000 -----
Amount purchased at Auction price (US $) 200.000
Total offers for buying (US $) 60.250.000 -----
Total offers for selling (US $) 200.000

Goooooooooooooood Morning RolClub !!


I was thinking about the CBI's current reval plan and It bothered me that there is no exchange history posted on the CBI website for the month of October. I thought I wonder if this plan to remove dinars from circulation and to limit their liability has been going on for longer than we thought. I started to review all the posts in the history thread and I had to go all the way back to page 1017 which corresponds to Oct 1st. From there I was able to review every auction in October, and guess what. The CBI has been extracting dinars out of the economy alot faster than we thought. Duing the month of October the CBI recovered 1,428,874,130,000 from circulation. The amazing part is that not 1 dinar was put back into the economy NOT ONE ! Zero - Zilch - Nada !! In all the auctions not a single dinar was offered for sale back to the banks. There were 17 auctions in October. Another interesting point is that the amount of dollars being sold back to the banks has been in a steady decline. Previously an average day saw about 75 to 80 million dollars being sold where as lately the average has been around 15 to 18 million. This goes hand in hand with the theory that the bank has been drying up the supply chain. One thing I would like to add, this study would not have been possible if it had not been for the faithful and detailed posting by SGS of the CBI's daily activity and the archiving by Neno of all this valuable information, to both of you thank you very much.

So with that info I have updated the totals to include the month of October, with that we can get a clearer picture of where the CBI stands at this time in their efforts to recapture as many dinars as possible and reduce their liability before they RV the exchange rate.




1. The dinar to the dollar is down 3 more points today from 1414 to 1411

2. Another $60,050,000 (net) worth of dinars, (IQD 84,730,550,000) out of circulation

3. 15 banks participating.

4. 44th auction since the beginning of CBI's reval plan

5. 75 days into the CBI's reval plan.

6. 2,750,799,227,000 dinars pulled from circulation !!

7. Only 282,200,000 Dinars back into circulation today

8. 66 dinar change since Nov 1st (baseline was 1477) 4.468% increase in value of the dinar since beginning of reval plan

Hello everyone. Socata has done it again! Provided us with some valuable research that reinforces our position that the CBI has been engaged in a major monetary intervention "under our noses". Based on his numbers, (based on posts by SGS, THANK YOU!) the amounts are truely amazing. Over and over, we have said that few countries in the world have the management and financial resources to intervene in the economy in such a dramatic way to reduce inflation, decrease the money supply and raise the exchnage rate. MUNNY BAGS provided a useful post earlier and stated that the CBI was in a critical period. I agree. What we are seeing is the classical "crawl-walk-run". So far we are only crawling, but hang on, things can speed up quickly. So, we need to move our estimates of money removed to approaching 3Trillion dinar. As the saying goes "pretty soon we'll be talking about a lot of money". And to accomplish this and still have around 15B in foreign currency reserves only leaves us to believe that more reduction of the base money supply is coming. None of this PRECLUDES a "bold adjust" in the exchange rate. I am aware of the rumors for the weekend. I love rumors as much as anyone, and I will say that we are in the BEST position from a monetary standpoint to see a significant increase in the exchnage rate than we have ever been. Everyone have a good weekend and enjoy the ride, just remember, its not over yet. Thank you.

Originally Posted by shotgunsusie

that bank postin is mainly piper. save the thanks for when we are graced by the presence.

Actually, in October it was you that saved the info. It's OK SGS, you can take a little credit, you deserve it.

2. Middle East اThe First page
1- WASHINGTON : Saudi Arabia says it will help in Iraq if America withdrew, the White House talks : King Abdullah and Cheney were private and not for circulation

3 - Allawi : No one Ivathana joining the new center, said : that the resistance factions, whom he spoke with the Americans participate in the reconciliation conference Saturday

7-of the draft bill laden oil fell on the right of foreign investment deals.

3. Call
2 - The political forces will be held the day after tomorrow, Saturday, in the framework of the dialogue and national reconciliation

9-execution of Saddam and his aides at the same time, the decision Bdvenhm secret.

The inner pages
3- The Ministry of Finance following funds withheld by Arab companies.

4. Azzaman
The inner pages
7-law of coordination between the government and the Kurdistan on wealth.
8- -block to contain the new Maliki and urged him to resign and denies Raunduzi and deputies say.
9- Kurdistan is not optimistic about the outcome of the reconciliation.
10- Obe tirelessly : Najaf handed security responsibility from the multinational force in the coming weeks.

5. Long
The first page
1-Hashemi and wise looking with Bush and Blair ways to enhance security. White House postpones disclosure of the new strategy in Iraq
2-Abdul-Mahdi : constitutional and political mistakes in the report of the Baker-Hamilton
3- billion-US-dollar budget of electricity in 2007

The inner pages
4-law regulating coordination between the federal government and the government of Kurdistan on oil extraction
6-Australia : any hasty withdrawal from Iraq will be catastrophic

6. Evidence
4 - Saudi support of Cheney to year if American forces withdrew from Iraq.

The time has come for the implementation of the Law on Investment

The President called Tabatabai Trustees Stock Exchange that the Iraqi security situation more work Mayaaik Stock Exchange, as well as the investor who faces considerable challenges resulting from this security deterioration, ... However, he pointed out that the status quo



.Is temporary and exceptional and therefore must be maintained consistently on the bourse performance, as illustrated by general indicators, which confirms that the development in performance continues to be a salient feature in the march of the market.
…He added Tabatabai in a press statement : that the lack of real investment and the appointment of its members and direct the work of a great disappointment among investors in the Stock Exchange of Iraq, particularly the efforts made by workers in the bourse, specifically with regard to updating the performance, since being installed equipment and supplies electronic trading in terms of organizing rooms Stock Exchange for this purpose, he said, adding that such electronic paintings used for the first time in Iraq ...
.Tabatabai and expressed the hope that help many factors, the investments by shareholders better than it is now in the forefront of these factors the security situation.
..Tabatabai pointed out that the number of shares that have been circulated in the month of September amounted to 4,212 billion shares, an average of 527 million shares of one process, registering an increase of 54,9% on last August. And the volume of transactions in the month of September Tabatabai said that the amount of 8,422 billion dinars, or the rate of 1,052 billion dinars for one meeting. And the number of contracts executed in the same month, it increased to reach a contract in 2928 for the month of August.
. Tabatabai also stated that the banking sector is the main engine of the market, as this sector has achieved greater relative importance.

http://www.alsabaah.com%2f&langpair=...&hl=en&ie=UTF8

Originally Posted by rvalreadydang

The time has come for the implementation of the Law on Investment

The President called Tabatabai Trustees Stock Exchange that the Iraqi security situation more work Mayaaik Stock Exchange, as well as the investor who faces considerable challenges resulting from this security deterioration, ... However, he pointed out that the status quo



.Is temporary and exceptional and therefore must be maintained consistently on the bourse performance, as illustrated by general indicators, which confirms that the development in performance continues to be a salient feature in the march of the market.
…He added Tabatabai in a press statement : that the lack of real investment and the appointment of its members and direct the work of a great disappointment among investors in the Stock Exchange of Iraq, particularly the efforts made by workers in the bourse, specifically with regard to updating the performance, since being installed equipment and supplies electronic trading in terms of organizing rooms Stock Exchange for this purpose, he said, adding that such electronic paintings used for the first time in Iraq ...
.Tabatabai and expressed the hope that help many factors, the investments by shareholders better than it is now in the forefront of these factors the security situation.
..Tabatabai pointed out that the number of shares that have been circulated in the month of September amounted to 4,212 billion shares, an average of 527 million shares of one process, registering an increase of 54,9% on last August. And the volume of transactions in the month of September Tabatabai said that the amount of 8,422 billion dinars, or the rate of 1,052 billion dinars for one meeting. And the number of contracts executed in the same month, it increased to reach a contract in 2928 for the month of August.
. Tabatabai also stated that the banking sector is the main engine of the market, as this sector has achieved greater relative importance.

http://www.alsabaah.com%2f&langpair=...&hl=en&ie=UTF8

I really liked this last sentence. I think they are trying to tell us something. Maybe we already know what he's talking about. Thank You.

Originally Posted by Wm.Knowles

I really liked this last sentence. I think they are trying to tell us something. Maybe we already know what he's talking about. Thank You.

me too, i meant to bold that, lol thanks

The Central Bank denies reducing the rate of the dollar against the dinar
14/12/2006


The Iraqi Central Bank denied rumors on its quest to determine the rate of the American dollar against the Iraqi dinar value of one thousand dinars.

Dr. Madhhar Mohammad Saleh, Head of Research and Statistics in the Central Bank, said in a meeting with reporters and Iraqi economists last Sunday: that the issue of determining the exchange rate of the dollar against the Iraqi dinar is not possible, now, for two reasons: first, the reserve capacity of the bank is not absolute, and second is the factor of the price increase.

He added: observing the general trends point to higher prices in return for a lack of improvement, which makes the dollar reduction to this value impossible at the present time, in addition to the limited financial capabilities of the Bank.

He explained: that the significant decline in the dollar, directly after the fall of the previous regime, was caused by the flow of billions of dollars to Iraq and distributing them among employees as well as opening exchange and restrictions. He pointed out: that at the present time and because of the deterioration of security and the high rate of inflation, the devaluation of the dollar is not expected at all.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2761

Old news reprinted!

The Egyptian government considers the sale of $ 150 million dues of Egyptian companies in Iraq to the banks
14/12/2006

The Egyptian government is currently studying the sale of the debt owed to the Egyptian companies exporting to Iraq, within the memorandum of understanding that was signed between the two countries for trade exchange in the framework of the oil-for-food program, for a group of banks that were not determined yet. The Ministry of Trade and Industry held a meeting last week attended by representatives of City Bank, the Iraqi Central Bank and the International American Bureau N.C Newing to discuss how to implement the process of selling the debt after the despair of Egyptian companies to recover their dues since the outbreak of the Gulf War in 1990.

The Ministry of Trade has computed the dues of the Egyptian companies exporting to Iraq and which the Iraqi government must pay back, in collaboration with one of the Egyptian public banks, according to the interest rate of the euro as a rate on loans between banks in London market, and these benefits amounted to about $ 150 million.

The number of companies that have dues on Iraq are about 58 companies from public and private sectors, including: Egypt company for Aluminum, Channel for ropes, Al-Ahram Beverages, Memphis medicine, the general company for metals, the Eastern for Spinning and Weaving, the Arab for foreign trade, the development of chemical industries, Egypt for Spinning and Weaving at Al- Mahalla, as well as Kafr Al-Zayat for pesticides.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2762