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

Originally Posted by Vipor

The lack of excitement on the reporter's part could also be explained as dissapointment. If they were expecting $2+ and ended up only getting $0.66.

Reaching... yes, I know.

BTW, Good find Mike.

Originally Posted by Offshore-Wealth.com

Interesting,

Isn't is strange how we hear this is happening months ago, yet nothing, just like the 10K, makes you wonder if they have to leak information on any changes to test the water before enacting. This seems to be the constant theme in Iraq, so maybe this leak of $6,600. is the same game.

Happy Holiday Season to all, Mike

He may have also known about this months ago and gotten over his initial excitment Haven't we be told long time ago the R/V was set? He may have finally been given the approval to leak it to encourage the people. This would encourage them to hold on a bit longer. The government needs the support of the people in the midst of all that is going on. I love the off handed, causual bombshell!!

OK so lets go back and see what we can glean from this article and if the figure of $6,600.00 fits this scenario or $6.60.00.

Originally Posted by Mike5200

Mohamed Radhi said he had drawn a plan to provide short-term loans to families willing to start up their own businesses particularly those who depend on social benefits for a living.



“This project will contribute to defeating terror and terrorists....unemployment has reached more than 50 per cent in some provinces,” he said.



He said he had 100,000 small-sized projects in mind and has urged the government set aside enough allocations to have the scheme in place in 2007.



Each family will be given a loan of 10,000 dinars (approx. $6,600) to start the project, he said.

So this project is about short term loans for families setting up their own businesses. Now why would they have to take a loan out for $6.60.00? Especially when they, according to the article, already are getting some sort of social benefits package? Clearly this is referring to $6,600.00 NOT a messly $6.60.00 which IS NOT ENOUGH TO BE USED TO START UP A BUSINESS! GET IT!?!?!?

(the question is was this (approx. $6,600) added by the reporter or stated by the minister of Labor???? THAT is the question)

Great job Kings & Queens Wooooooooooooooooootttttttttttttttt!!!!!!!!!!

Oh that felt sooooooooo goooooooood!

We all need this sooooooooo bad.............................................

Originally Posted by whatever

Well, currently 10,000 IQD is worth @ $6.60 USD. I guess you could start a phone company with some dixie cups and string with that?

10,000 dinar would be $6.60 if the rate was 1515. Now granted, it was at that rate but that was in Jan. of 04.

Recap of the good news day.
1 .Mike found the great article on the rate.
2. Dick Chenney just bought 750 million dinar ( wonder why)
3. Suzie got confirmation that it would reval when HCL is done ( Before end of December )
4. That's it so far that I've seen, feel free to add more.

Originally Posted by Offshore-Wealth.com

Interesting,

Maybe this is why 10K was held up, sure would be nice.



By Ikhlas Majeed

Azzaman, December 14, 2006

Nearly half of Iraqis able to work are idle, said Minister of Labor and Social Affairs.

Mohamed Radhi said the high jobless rate was devastating to a country torn by sectarian strife and violence.

He said combating unemployment was as important as the fight against ‘terror’. Joblessness plays into the hands of ‘terrorists’, he said.

He said he had drawn a plan to provide short-term loans to families willing to start up their own businesses particularly those who depend on social benefits for a living.

“This project will contribute to defeating terror and terrorists who target sources of energy and labor. As a result unemployment has reached more than 50 per cent in some provinces,” he said.

He said he had 100,000 small-sized projects in mind and has urged the government set aside enough allocations to have the scheme in place in 2007.

Each family will be given a loan of 10,000 dinars (approx. $6,600) to start the project, he said.

I am just Brainstorming this Article.

The part in Red Above: Think about this. "Willing to Start-up Their Own Business". Basically the ones on Wel-Fare.

In Blue Above: "Will contribute to defeating terror".

In Purple Above: "Each family will be given a loan of 10,000 dinars (approx. $6,600) to start the project".

How in the "HELL" can this not be true? You can not buy a Case of Root Beer for less than $17.00 (25,000nids in the Past).

Look at the Date of the Article. Plus it is on other News Sites Now with reference back to this one. They have to see this. And it is not Challenged or Changed.

I am not going out on the limb here, cause you all know I am not no expert. But you know what? I think we are there Gang. look at this scenario.

1. FIL Enacted we believe.

2. Our Own believes the HCL this Sunday Is a Done deal. These first to should equal a R/V

3. This Article. Hand-Out.

4. Then It Just Floats.

Makes Pretty Dog Gone Since right now to me. I will have enough ready to get out of dept just in case This is Brain Reckoning. You Guys Feeling the Same Way?

Ok, maybe I am jumping the gun a little bit here, BUT when is the Cayman gig going to be?

edit: sorry Neno, delete if need be.

Originally Posted by neno

If this is not, or if it is a Misprint. Our Gang want SLEEP NOW until they find something to back this up. I for one would like to take this to the Bank. I have lost all resourses to find and find, do to Moderating. But hey That is Cool. We Just need more Evidence of this Article.

Somebody has to keep law and order here, or we could end up in anarchy, just like Iraq ! We got yer back Neno. Just keep doing the good job that you are.

Gloribee

MERRY WOOOOOOOOOTING CHRISTMAS!!!!!!!




TIME FOR A WISKEY COKE AND A CIGAR!!!

Found another article different from first but same Minister ...


Ministry of Finance specifies one billion dollars to support the unemployed and lend those who want to build houses between 20 - 30 million iraq dinar
October 12, 2006

In the meantime, the Ministry of Commerce announced that it started supplying whoever wants with imported construction materials at subsidized prices.

This falls in line with the orientations of Al-Maliki government to ease the burdens imposed by the circumstances upon the citizens, like unemployment and the housing crisis that could be regarded as the most important problems facing the population. The government started the project of social protection to keep off hazards from families who suffer from poverty. Politicians and citizens say that the status of these families is resulted from the lack of employment opportunities provided for their sons.

A source in the Ministry of Finance stated that Mr. Jabr Al-Zubaidi declared, during his meeting with the Minister of Labor and Social Affairs Mahmmoud Al-Sheikh Radi, the decision of his ministry to specify one billion dollars (that is, one trillion and 500 billion iraqi dinar to help the unemployed set up small projects for themselves to provide a decent living for their families. He said: work of this project will start with the beginning of next year.

During his talk with the Minister of Labor, Azzubaidi said that the amount is enough to cover the expenses of 50 thousand projects whose owners could pay back the loans over 15 years without interest.

The Ministry of Labor and Social Affairs noted that the project would contribute to develop the economic status in Iraq on one hand and to achieve self-sufficiency for the families included in the social protection network.

Officials noted in earlier times that this network needs to be supported with financial surpluses resulted from the increase in selling prices of fuels. It has not been possible for "Assabah", though, to know whether this amount is a deduction of the savings achieved by raising prices of petrol to 250 dinars per liter. On its part, the Ministry of Labor formed a committee, consisting of representatives from the ministries of Finance and Planning to control the grants given to beneficiaries and to decide whether the proposed project needs financial support.

In order to confirm the ministry's quest for supporting community and alleviating the oppressive conditions, it started receiving requests from citizens who wish to build houses for themselves. An official source in the Ministry of Finance stated to "Assabah": The loans range between 20 - 30 million dinars. They are granted to anyone who has a piece of land and wishes to build it, repaid over a period of 20 years at an interest of 6% of the loan value. He explained that the bank will grant loans ranging between 8-12 million dinars for those wishing to add another building, repaid over a period of 15 years.

He pointed out to the granting of 20 million for those who wish to build on an area of 75m-100m, 25 million dinars to the area ranging between 101m-125m and 30 million dinars for constructing an area of more than 126m.

The instructions for granting the loan conditions to present a pledge to pay back the amount through the deduction of salary if the receiver is an employee or cash if not, it also conditions that the receiver and his wife do not have a land plot any were in the provinces or that he and his minor children have no real estate in any province. Also, there should be a guarantor available.(Source)AlSabah


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