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

Originally Posted by worf

I realize the Iraqi parlament is like the Keystone Cops on speed, but I (being a conspiracy theorist by nature) think some one with a lot more brains is calling the shots offshore, behind the scenes. I just don't get their angle. If Iraq passes all the laws and opens up their oil fields, and their stock market, then the shadow people stand to make a lot of money. I doubt if it is in their interest to have Iraq fail when they have come this far.... but then again I am not a shadow person.

If you are not a conspiracy theorist, can you explain logically and factually how they can continually miss the obvious solution time after time? Incompentance, political inefficency you say? They must be trying for a world record!!!

worf

I'm not comptenent enough to understand the rationale behind Iraq's endeavours to miss deadlines with a frequency that matches the inefficiency expers. It all boils to political wrangles that stokes their egos and which have no regard for the people that matter i.e., the citizens who are the ones that are suffering.

Originally Posted by Wm.Knowles

Thank you for your work. This is an impressive amount of dinar that has been removed, and if close to being true, then there can not be a lot more for them to pull out. Again, Thank You.

Michael16 numbers are actually low....

In early November 2006 the CBI and I believe USAID released a report stating that from August 2006 til October 19, 2006, the amount of IQD in circulation went from just under 20 trillion to just over 14 trillion. They released this report during the time everyone was focusing on the Iraq media blitz regarding the FIL, HCL, Compact, Debt relief and security. Good Karma or "GK" has also mentioned this report and I believe posted the link in the Rolclub history thread.

The CBI removed over 5 trillion IQD in 3 months, from right under our noses, just as a few have suggested. Since Oct 19th, they have removed, at least, 2 trillion more IQD...Probably more if you include these mysterious Securities auctions that appear on and off the CBI site, but clearly remove chunks of IQD. I believe H2O or Susie mentioned a few of these additional auctions that appear, sometimes weeks after the fact. I only noticed them in October and I find it strange we cannot access most of the details of October in the CBI's history. Something significant happened in October.

Some tend to dispute whether the CBI is removing significant amounts of IQD from circulation, even though they have repeatedly stated their policy to do so. However, this report is fact, so at the very least, over 5 trillion has been removed over a 3 month period.

I believe, like a few others, the CBI has approximately 10 trillion in it's coffers. From what is "known" I count over 7 trillion and I strongly suspect there is alot of removal we do not know about. Also, they have stated they are not printing more currency. This means, either the CBI has the lower denominations or the banks already have them. If the CBI has them, we can add several more trillion to what is in their coffers.

Regardless, they have over 7 trillion. But I believe the CBI has accomplished a goal of having 1 IQD in their control for every 1 IQD in circulation. Thus they can revalue at whatever rate they choose without a drop of oil needed for support.

I know this is my first post...Wanted to wait until after the reval. I have been lurking the various forums for over a year now. With all the doubts about removal of currency, I just wanted to mention this report I felt was too significant to overlook.

Best regards to everyone.

Originally Posted by H2O_Lover

I agree with you someone or something is gaining by the delays. It could be as simple as debt releif or something so hidden as the US companies in country right now that would be displaced when the flood gates open and the world comes in. We all assume its iraq holding up the RV but what if its the US and Bush ? Does he have ties to the company(s) that are in make gains now ? Just food for thought is all ... I am heading for cover now

IMHO we should all be "brain-storming" on this one and there should be no "right" or "wrong"...You're airing a valid concern...if it has legs, we'll see if it waddles or lopes. It could very well be that until certain "friends" have siphoned off what they anticipated they would "need" from this venture a certain amount of pressure is being brought to bear to keep the "status quo" ("stay the course"). As the Iraqi press is fond of saying "on the other hand" there could be other reasons for delay. So, if not your Bush & Co theory, and if not end-of-fiscal-year accounting theory...what else: anyone? There HAVE to be consistent thoughts running at the same time...We see several postings in a row that are similar all the time....Next? We need a lot to mull over between now and this week-end when (we hope!) there's a HUGE RV!

Originally Posted by postcon

I'm not comptenent enough to understand the rationale behind Iraq's endeavours to miss deadlines with a frequency that matches the inefficiency expers. It all boils to political wrangles that stokes their egos and which have no regard for the people that matter i.e., the citizens who are the ones that are suffering.

Its probably very difficult to accomplish anything in a male dominated society where ego is everything and its very important that you are viewed as the alpha male in a room full of alpha males. If the average citizen wants something, then send your alpha male and see if he can out alpha the other alpha's.

Originally Posted by wellwishes

Michael16 numbers are actually low....

In early November 2006 the CBI and I believe USAID released a report stating that from August 2006 til October 19, 2006, the amount of IQD in circulation went from just under 20 trillion to just over 14 trillion. They released this report during the time everyone was focusing on the Iraq media blitz regarding the FIL, HCL, Compact, Debt relief and security. Good Karma or "GK" has also mentioned this report and I believe posted the link in the Rolclub history thread.

The CBI removed over 5 trillion IQD in 3 months, from right under our noses, just as a few have suggested. Since Oct 19th, they have removed, at least, 2 trillion more IQD...Probably more if you include these mysterious Securities auctions that appear on and off the CBI site, but clearly remove chunks of IQD. I believe H2O or Susie mentioned a few of these additional auctions that appear, sometimes weeks after the fact. I only noticed them in October and I find it strange we cannot access most of the details of October in the CBI's history. Something significant happened in October.

Some tend to dispute whether the CBI is removing significant amounts of IQD from circulation, even though they have repeatedly stated their policy to do so. However, this report is fact, so at the very least, over 5 trillion has been removed over a 3 month period.

I believe, like a few others, the CBI has approximately 10 trillion in it's coffers. From what is "known" I count over 7 trillion and I strongly suspect there is alot of removal we do not know about. Also, they have stated they are not printing more currency. This means, either the CBI has the lower denominations or the banks already have them. If the CBI has them, we can add several more trillion to what is in their coffers.

Regardless, they have over 7 trillion. But I believe the CBI has accomplished a goal of having 1 IQD in their control for every 1 IQD in circulation. Thus they can revalue at whatever rate they choose without a drop of oil needed for support.

I know this is my first post...Wanted to wait until after the reval. I have been lurking the various forums for over a year now. With all the doubts about removal of currency, I just wanted to mention this report I felt was too significant to overlook.

Best regards to everyone.

This is a great first post. And an angle I have not heard yet about holding 1 to every 1 in circulation. Everyday it seems someone else shows up and brings a frsh set of eyes to this puzzle. Thank you for a great first post, and don't be a stranger

All of us here have done our part to get Iraq off to a good start. We've taken our well earned money, highly respected around the world and exchanged it for a fledgling currency that has yet to see the light of day!

There's nothing else we can do. The rest is up to the CBI. If they let the new year pass without a significant adjustment in their currency (.05 at the very least!) then - what a colossal error in judgment that would be!

It would be a display of utter incompetence to open Iraq to the world at "yard sale" prices!

The big sign reads: IRAQ FOR SALE OR LEASE JAN 1st. 2007

Read: .:: Peyamner Daily NEWS::.

Originally Posted by Wm.Knowles

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.

That's the spirit. We know this is a trial run and there are a lot of factors involved. We still need HCL, further FIL implementation, electronic systems upgrades, SBA next phase by March, better security. It is all lining up. The rumours are fun, but in reality nothing "big" can happen until March of 07. Until then let's enjoy the gradual increase of our investment. One thing to keep an eye on is the Hydrocarbon Laws (HCL). If Iraq can allocate a certain % of their oil revenue as Central Bank reserves they will be able to move into the .10 -.31 IQD range much faster than anyone could ever have dreamed. Hang in there and keep a very positive attitude, peeps!!!

Originally Posted by jsfletcher

This is a great first post. And an angle I have not heard yet about holding 1 to every 1 in circulation. Everyday it seems someone else shows up and brings a frsh set of eyes to this puzzle. Thank you for a great first post, and don't be a stranger

I posted this on IIF over a year ago ...as long as they have one dinar in the CBI for one they have out when they RV the dinar will not be a real issue. In fact if they RV the dinar for more than a dollar lets say 1.50 they will make money on the exchange of .50.

There seems to be so many easy answers too all this for such a simple mind like myself ....

New T-Shirt

Got Dinar
Need WoOt !

Originally Posted by kiko

Big increase in the demand for dollar
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)

The demand for dollar in the auction the Central Bank of Iraq today, Thursday, recording 60 million and 250 thousand dollars, compared with 17 million and 125 thousand dollars yesterday.
Such requests for the purchase of 22 million and 750 thousand dollars in cash and 37 million and 500 thousand dollars in the form of remittances outside the bank full coverage of exchange rate amounted to 1411 dinars to the dollar, a decline of three dinars on the exchange rate yesterday.

Two of the 15 banks participating in the auction today, the largest number of banks involved in one meeting during the last two months, bids for the sale of $ 200 thousand for the bank bought full exchange rate reached 1409 dinars to the dollar, which is the first since the sale of four meetings.

He expected to Yasiri, a bank dealers with the auction in a statement to the News Agency (Voices of Iraq) Independent, to witness the auction, the return of normal circulation during the forthcoming meetings due to equal the official exchange rate with the rate of exchange in the local market.

ÏæáÇÑ- (ÅÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq

Return to normal circulation with the official exchange rate!!

Are they saying that they stopped with withdrawing money and that the real exchange rate will be set for the next auction (sunday)?

Please can somebody explain this?

Great news, Kiko!!! Heads up we will continue to see IQD increase next week!!! 1409 to start the week breaks the 1410 mark and we are clearly headed rather quickly into the 1300s range.