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

Originally Posted by "GK"

The weird thing is that it seems like everything revolves around the number "15" when it comes to the IQD. I think it's pretty obvious, subtle but obvious if you pay close attention.

It's obviously late, not much going on right now. So if you don't mind i'd like to ask your "opinion". How big of a key do you think the HCL is? And what rate do you think the dinar can get to? Just curious is all, not looking for rumors or anything, just your thoughts

Originally Posted by jsfletcher

It's obviously late, not much going on right now. So if you don't mind i'd like to ask your "opinion". How big of a key do you think the HCL is? And what rate do you think the dinar can get to? Just curious is all, not looking for rumors or anything, just your thoughts

The HCL is very important. We're talking about Iraq's major export and source of revenues. Alot of oil companies and big oil consuming countries are already wating in line for this to get finalized. I'm only interested on 2 things regarding the HCL. One is the PSA, which is pretty much a done deal. The other is to see in print that the IQD may be used in oil transactions. But, I think the latter is a moot point even if I don't see it on the HCL in black and white. I think they're doing the latter now anyway. As far as rate, like I said, everything seem to revolve around that magic number 15. The differences will be a matter of decimal points.

I have read prior posts (a month, and more, ago) that the fils of the Saddam era were simply withdrawn and put into storage. They apparently did not bear Saddam's image so they could quite reasonably be re-introduced when the need for small value currency arises (real soon, we all hope and trust).

Originally Posted by nventr

I have read prior posts (a month, and more, ago) that the fils of the Saddam era were simply withdrawn and put into storage. They apparently did not bear Saddam's image so they could quite reasonably be re-introduced when the need for small value currency arises (real soon, we all hope and trust).

Wow, thats an interesting theory. Could it be though?
If not too much a bother could you please point that post.
Thanks!
-Loki

Originally Posted by Pippyman

Good analysis "GK". Do you think the IQD at $.06 as you noted above has any relevance to the recent article about the Minister of Labor and his comments about loans to Iraqis for "10,000(approx. $6,600)dinars"? Thanks!

It may or it may not. I myself hate these translated articles. But, if this article is free from errors, then I believe it's very relevant. 10,000 dinars will hardly buy you anything using the current program exchange rate. What's clear to me is that the 15:1 Heavy Dinar was researched way before the war. Another thing that's clear to me is that the IMF used the 15:$.01 "program exchange rate." Now even an 8 yr old kid can figure this one out.

Reconciliation Conference held today with the Baathists, looking

(Voice of Iraq) - 12-16-2006
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Reconciliation Conference held today with the Baathists and re-examine tens of thousands of them to their jobs ... Al-Maliki put the initiative include the reintegration of Baathists and compensate affected families in my era of Saddam and the occupation
Baghdad-Al-Salihi, leadership and life-Wahid Tima 16 / 12 / 06 / /

Reserved «supreme body of the reconciliation and national dialogue» from revealing the names of personalities rescinded participate in the reconciliation conference to be held today in Baghdad, while new trend Sadri position not to participate in the Conference if attended «Sidamion Ba'thists and Tkverion». The Conference will examine many issues, including federalism and uprooting the Baath and the presence of foreign forces in Iraq, and Iraqi Army and the identity of Iraq. Al-Hayat »« that Iraqi Prime Minister Nuri al-Maliki announced during the conference, a new initiative will include proposals for the integration of Baathists, disbanding the militias, and compensation for affected families in my era of Saddam Hussein and the American occupation of the country.

The outpouring Faleh, a member of the supreme body of reconciliation and the Organizing Committee of the Conference of the «life» «attendance figures state were invited in their personal capacity, and former officers of the disbanded army as well as opposition parties opposed to the political process». He pointed out that «the armed groups not represented in this conference, the first of Iraqi political forces, except some existing political claims that the channels of communication between them and the armed factions».

He disclosed «initial agreement between the organization and forces invited to discuss the issues of federalism and the identity of Iraq and the law abolishing the Baath Party and the dissolved entities for the purpose of the formation of special committees to get recommendations on these issues».

The outpouring of the political forces «the first step to develop a political vision for the entire situation - General» «did not rule out the holding of a general conference of reconciliation, according to the results of studying this conference involving the armed forces preceded by conferences such as the Conference for scholars of religion and other officers of the former army disbanded».

The champion Ani, spokesman for the conference told «life» «The 20 personality out of a total of 50 had arrived in Baghdad yesterday afternoon coming from Amman and Cairo and the Gulf», and said : «Let us 200 to 250 to participate in the conference, including advocacy figures living abroad, but some of them I apologize for coming because of the security situation despite the government's commitment to Baisaham peacefully to the site of the Congress». He refused to reveal the names of guests and participants, and denied «invited to be one of the representatives of the resistance», and said : «So far no one addressed to the character and declare himself Iraqis», note that the Agency France Presse »« Baathists participate in the conference.

, It was stated Fadel Al-Sharaa, political advisor to the Iraqi prime minister, that the Secretary-General of the Association of Muslim Scholars «» Harith al-Dhari is not required to eliminate the Iraqi, and can meet the invitation of the «» reconciliation and attend the Conference. The body «» renewed its position that it would not participate in the reconciliation with the government.

A Shara's initiative put Maliki in the conference «would ease the worsening spiral of violence, by opening the door to receive complaints against members of the Baath party disbanded for a limited period to consider the elimination of these complaints, accounting for negligence, and did not register any case against him he has the right to live in peace and the exercise of his natural life». In addition to the call for »controls agreed upon by the forces involved to solve the militias and open the door for former army officers to join the armed forces is not covered by chopping, sending covered Balajtthath them in retirement to ensure a decent life for their families, as well as to compensate the families of the dead victims of the former regime and the relatives of the victims of American forces and the political prisoners who were arrested during the two». The invitation to the Arab League, the United Nations and international observers to attend the Conference.

Baathists participate as individuals

The agency «» France Presse quoted Abbas Bayati, the deputy of the «Supreme Council for the Islamic Revolution» «Baath Party as a party that is prohibited under Section VII of the Constitution, but the Baathists as individuals will have to attend at the conference». Bayati explained that the conference would leave «Service covered the eradication of the Baath Limits thousands of former Baathists As for the rest, there is an orientation to deal with them either Bhmoham retirement or returned to their jobs» unless they are accused of crimes in the right year.

The new trend Sadri rejected the participation of the Baathists, and a source close to the current request anonymity, said that the bloc «chest has already declared its position that it would boycott the conference in the event was attended by Baathists and Sadamion Altkverion who tarnished hands are smeared with the blood of Iraqis. There will be no change to this position in the event they attended the chest bloc would boycott the meeting ».

For his part, the leadership in the «Dawa Party-Iraq Organization» «Karim Al-Enezi it can not engage in dialogue with any armed group spilled the blood of innocent Iraqis, or sit down with them to the negotiating table, and one». Left «who have taken up arms and have been involved in the noble role of the resistance operations in the targeted occupation forces for liberation Those could talk with them and be involved in shaping the future of the country is their declaration to renounce violence and recognize the political process».

And across the «Islamic Party» expressed regret at the non-participation of some political forces boycott of the political process k «the Association of Muslim Scholars» Despite the invitation, and the deputy said Ammar Wajeeh told «life» that «Islamic Party», will propose a number of fundamental points in the conference, k «restore balance sectarian and national to the state bodies and formations army and the police, disbanding the militias immediately and find a way entice parties boycott of the political process to participate and to stop the forced displacement and the return of refugees from the Sunnis and Shiites to their areas».

He added, Wajih that the «Islamic Party» suggested the formation of «a brigade vocational» army forces be the participation of all communities, and works in Baghdad specifically, it enjoys the confidence of all parties and offer assurance by appointing a number of officers Sunnis and Shiites in the Brigade, has circulated the other governorates, if the test succeeds », as suggested« that the government would secure areas of certain, become a model of peaceful coexistence between Sunnis and Shiites, a city freedom example, or-A'zamiyyah or other », affirming that the« the government «able to do so despite the the hacking the great suffers security organs currently».

Originally Posted by "GK"

The HCL is very important. We're talking about Iraq's major export and source of revenues. Alot of oil companies and big oil consuming countries are already wating in line for this to get finalized. I'm only interested on 2 things regarding the HCL. One is the PSA, which is pretty much a done deal. The other is to see in print that the IQD may be used in oil transactions. But, I think the latter is a moot point even if I don't see it on the HCL in black and white. I think they're doing the latter now anyway. As far as rate, like I said, everything seem to revolve around that magic number 15. The differences will be a matter of decimal points.

So the revaluation will be a big flip in the banking industry; what they thought might not happen will just surprise the naysayers to no end, especially the ones that talked themselves out of investing in the IQD.

So we are looking at $.66+, okay, now all we need is the formula to get together: ICI + FIL + HCL = "A whopper RV!"

RV

The Oil Connection in Iraq Study Group Report

Saturday, 16, December, 2006

The Oil Connection in Iraq Study Group Report
Abdus Sattar Ghazali

SAN FRANCISCO, 16 December 2006 — A group of Iraqi politicians and ministers is close to finishing a draft of a national oil law that, if enacted, would be the most significant legislation passed by the government so far and help narrow some of the country’s major political schisms, according to the International Herald Tribune.

The working draft calls for the central government in Baghdad to collect oil revenues and distribute them to provinces or regions based on population. The law could also encourage foreign investment in the oil industry.

General George W. Casey Jr., the senior American commander in Iraq, and Zalmay Khalilzad, the US ambassador, have urged Iraqi politicians to put the oil law at the top of their agendas, saying it must be passed before the year’s end.

Interestingly, the Iraq Study Group report released on Dec. 6, emphasized that an equitable oil law was a necessary cornerstone to the process of national reconciliation and thus to ending the war. In a major far reaching recommendation to deal with the situation in Iraq, the report called for opening Iraq to privatize foreign oil and energy companies, providing direct technical assistance for the “drafting” of a new national oil law for Iraq, and assuring that all of Iraq’s oil revenues accrue to the central government.

The ISG said: “Expanding oil production in Iraq over the long term will require creating corporate structures, establishing management systems, and installing competent managers to plan and oversee an ambitious list of major oil-field investment projects.... The United States should encourage investment in Iraq’s oil sector by the international community and by international energy companies.”

It may be recalled that President George W. Bush hired an employee from the US consultancy firm Bearing Point Inc. over a year ago to advise the Iraq Oil Ministry on the drafting and passage of a new national oil law. As previously drafted, the law opens Iraq’s nationalized oil sector to private foreign corporate investment, but stops short of full privatization.
The ISG report, however, goes further, stating that “the United States should assist Iraqi leaders to reorganize the national oil industry as a commercial enterprise.” In addition, the current constitution of Iraq is ambiguous as to whether control over Iraq’s oil should be shared among its regional provinces or held under the central government.

The Iraqi constitution, drafted under US supervision, leaves the door open for regions to take the lead in developing new oil resources. Article 108 states that “oil and gas are the ownership of all the peoples of Iraq in all the regions and governorates,” while Article 109 tasks the federal government with “the management of oil and gas extracted from current fields.” This language has led to contention over what constitutes a “new” or an “existing” resource, a question that has profound ramifications for the ultimate control of future oil revenue.

If the ISG proposals are followed, Iraq’s national oil industry will be privatized and opened to foreign firms and in control of all of Iraq’s oil wealth, says Antonia Juhasz, author of “The Bush Agenda: Invading the World, One Economy at a Time.

However, the proposals should not come as a surprise given that two authors of the report, James A. Baker III and Lawrence Eagleburger, have each spent much of their political and corporate careers in pursuit of greater access to Iraq’s oil and wealth.

Juhasz, in his recent article “Oil for Sale: Iraq Study Group Recommends Privatization,” points out that “pragmatist” is the word most often used to describe Iraq Study Group co-chair James A. Baker III. It is equally appropriate for Lawrence Eagleburger. The term applies particularly well to each man’s efforts to expand US economic engagement with Saddam Hussein throughout the 1980s and early 1990s. Not only did their efforts enrich Hussein and US corporations, particularly oil companies, it also served the interests of their own private firms.

This past July, US Energy Secretary Samuel Bodman announced in Baghdad that senior US oil company executives would not enter Iraq without passage of the new law. Petroleum Economist magazine later reported that US oil companies put passage of the oil law before security concerns as the deciding factor over their entry into Iraq.
Put simply, Antonia Juhasz argues, the oil companies are trying to get what they were denied before the war or at anytime in modern Iraqi history: Access to Iraq’s oil under the ground.

Once the HCL is officially passed...

Translated version of http://www.almadapaper.com/

The future of commercial reality in Iraq

BAGHDAD : Ghazi Almansdawi The WTO level in the 1950s and 1960s, as the last Iraqi traders importing goods of high quality and the accounting transactions are confidently with suppliers Vlmatta names of the families of Iraqi Petjarat certain known and dubbed such as Altman and Abu Al-Saati visited the house structure. The trade peak at that time, especially at the end of the 1960s after a period during the 1970s and 1980s started to trade down in Iraq slowly and the reason for it is wrong policies that were pursued by the former regime in Iraq.

(Long) tried to shed light on the future of the Iraqi trade and the causes of degradation in the last period. It says the dealer (the happiest spring) : The Iraqis are committed to exporters with quality specification of materials and gained the confidence of foreign importers, but this case did not last long accounted trade sector, the government fully in the seventies and 1980s through the Ministry of Trade, who had to deal with all the needs of the Iraqi market. Has suffered this trade from each diseases the public sector, such as bureaucracy, bribery and lack of any sense of responsibility and a lack of attention to with public money so I thought I'd goods in the markets and become obtain any article is not made except awaiting long queues in front of assignee the public sector and emerged the phenomenon of the black market and connotations Turning the case from bad to worse, inside the companies and Ministry of Trade and deterioration maximum in the General Company for vehicles that entered scored (Gins) of the index numbers in that it the worst companies in the world where recognized the cars scored customers and paid a large part of the their amounts after (25) years of the registration date was delivered cars to their children and perhaps to the grandchildren and during the 1990s and during the period of the blockade and the lack the ability of the State to import sought the help of the State for the importation of what is needed by the companies of the dummy for importation to circumvent the laws of the United Nations and the oil-for-food program and reflected the problems of the State to new traders in where the fraud was the general rule of the import and was imports are one of the worst and cheaper Almenashie to achieve profit All of that at the expense of Iraqi consumer, and everybody remembers goods the bad under the oil-for-food such as soap and scouring powder cleaning and tea ... Etc..

The dealer (Ibrahim Al-Dulaimi) says of the strangest practices condemned in a timely manner monopolize the Iraqi Olympic Committee trade cigarettes, currency and foodstuffs ignoring the terms of reference of the Ministry of Trade and some cases have a direct impact on human life, such as the import of auto spare parts from the origins of poor and altering the Earth a cover plants prestigious Everyone remembers seminars bullets to the United arrest Auto adulterated, which caused many incidents are still Iraqis remember much pain phenomenon execution traders and victimization.

The merchant Saadoun Abdullah Skinner says : There are a number of steps must be taken to establish a new Iraqi trade rise to the level of world trade, these steps :

* Accession to the World Trade Organization, which is working to liberalize international trade and the implementation of the policy of market economy and liberalization of the movement of goods and services leading to competition in the project for the benefit of consumers, as they set policy for the customs and taxes and restrictions to resolve commercial disputes. * The establishment of joint chambers of trade with friendly countries and sophisticated.

* Accession to the global ISO is a non-governmental organization set global specifications for consumer products belong to the majority of the countries of the world and based in Geneva, Switzerland.

* Encourage traders to import materials labeled ISO mentioned the service of the Iraqi consumer.

* Encourage citizens to refrain from buying any rule only after ascertaining their specifications or carrying of a question.

* Granting Iraqi traders banking facilities and advances from banks and facilitate their work.

* Revitalization of the work of banks and the introduction of modern electronic system for the transfer of funds between States easily and without danger and encourage banks to join the Iraqi Foundation (Visa) and the global ones to all the countries of the world and allow the circulation of money-mail to investors, traders and consumers.

* Activate the process of trade through the Internet, which has trade the twenty-first century through Tashik work with the banks to provide the possibilities of the Internet in this way trade note that this method will also reduce the price of materials costs and shorten the time for the known substances and thus lower prices for consumers Iraq.

* The revitalization of the free zones with neighboring countries, or convert the whole of Iraq into a free trade area, including the exciting world, particularly as the current situation does not allow for the absence of the need for laws to protect Iraqi products, which are not currently exist note that turning Iraq into a free zone will lead to the evolution of very rapidly, and rapid leaps to turn it into a center for attracting investors and funds from all over the world. Finally, we all hope that life can return to its former prosperity, and to see an end to the deprivation experienced by Iraq for a long time.

Translated version of http://www.almadapaper.com/