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

The first political : Joint forces raided Sadr City, killing and arresting gunmen
The search for the leader of an armed group
Baghdad morning

The American army confirmed yesterday, Saturday, that one person was killed and another was arrested six others during a raid launched by the American army last night in Sadr City, east of Baghdad, in search of a cell leader armed. The American army said in a statement received by "Assabah" copy of the Iraqi forces and the coalition forces under the supervision of the night yesterday, Saturday, "stormed Sadr City

To arrest the leader of an armed group believed to be responsible for armed operations launched in the areas north east of Baghdad against civilians and Iraqi security forces. " The statement added that the process resulted in "the death and injury of another armed conflict and the arrest of six suspects." The statement said that the information available on the person sought, "indicating that the direction and management of an armed group of one hundred people carried out armed operations against civilians and government forces, including abduction and murder. The booby cars and explosive devices and mortar attacks targeted a number of areas in Baghdad, in addition to the memorial checkpoints and illusory in Sadr City targeting civilians. " The statement pointed out that the attacking forces had "the least that can damage sites targeted by the neighboring areas. There were no casualties against civilians or members of the attacking force.

ÌÑíÏÉ ÇáÕÈÇÍ - ÞæÇÊ ãÔÊÑßÉ ÊÏÇåã ãÏíäÉ ÇáÕÏÑ æÊÞÊá æÊÚÊÞá ãÓáÍíä

The first political :Prime Minister stresses importance of the national reconciliation conference During the closed-circuit television between Maliki and Bush
Washington-AFP
The White House announced in a statement that the American President George Bush spoke Friday with Prime Minister Nuri al-Maliki via closed-circuit television, on the eve of the parties and political forces for national reconciliation, which was held yesterday in Baghdad. A spokesman for the American National Security Council Gordon Jondro that Maliki "stressed the importance of the national reconciliation conference," which was held yesterday, Saturday,.

He added that al-Maliki talked about the "desire and the desire of many Iraqis to meet a large number of political leaders for the common posed by bringing stability and to impose the rule of law in Iraq." He continued that Jondro Maliki also spoke during the call, which lasted about 45 minutes about the need to "ensure greater security, especially in Baghdad, confront all sources of violence, including the terrorists and militias." For his part, described Bush as "Balmshjah" meetings held in recent days in Washington with the leader of the Supreme Council for Islamic Revolution in Iraq, Abdel Aziz al-Hakim, and Vice-President Tariq Al-Hashmi said Jondro said that the American president "reaffirmed his support for the owners

ÌÑíÏÉ ÇáÕÈÇÍ - ÑÆíÓ ÇáæÒÑÇÁ íÄßÏ ÃåãíÉ ãÄÊãÑ ÇáãÕÇáÍ&#201 ; ÇáæØäíÉ

oldskiier
Investor

Join Date: Dec 2005

Found this article..few months old but very interesting...

Monetary Policy And Oil Production

Source: By Sabri Zire Al-Saadi

10/24/06

They didnt have a link ....

the present monetary policy and especially the FXR have misled economic efforts.

It has been claimed, however, that the new FXR maintains economic stability, and the apparent stable (fixed) exchange rate of the ID/$ reflects a sound monetary policy12.


Therefore, monetary policy should be considered as a complementary part of the fiscal and public investment policies rather than a superior factor that influences the aggregate demand.



But it is also misleading to stipulate that economic stability, ie controlling inflation and the fluctuation of foreign exchange rates, can be achieved without exploitation of the generous oil revenues.


Unfortunately, neither the MOF nor the CBI has taken the trouble to explain these ambiguous monetary policies.


first, the national economy has two main characteristics: high dependence on the oil sector and imports, and an insignificant contribution of non-oil sectors and non-oil exports to GDP; secondly, oil revenues are the main source of public finance15 and, therefore, constitute the principal source of money liquidity.



Also, while oil revenues are the main financial source of NDS, its passive policy towards the unemployment problem and the provision of public services can not be justified.


The effectiveness of the fiscal and monetary policies, however, does not mean that they are efficient and progressively leading to increase economic growth and employment and liberalize the economy from its high dependence on oil.


Efficiency Price Of Oil Production And FXR


Such factors influence optimal production and the national investment decisions in oil industry


That is to say, it is also essential to evaluate the cost-benefit outcome of the collective oil price and production policies of OPEC as well as the likely role of Iraq being (another) swing player in OPEC.


Given the exceptionally high dependence of the economy on oil exports (revenues), the foreign exchange rate of ID/US$ plays a strategic role in influencing (determining) the economic efficiency of oil production policy. Consequently, a new (adjusted) FXR must be established in order to facilitate the implementation of new economic strategy and policies that is based on a national inspiring long-term future vision18.



Theoretically, real foreign exchange is directly linked to optimal crude oil production at which the balance of payment would be at equilibrium or at the level of where full utilization of foreign currency reserves as well as higher economic growth are achieved.





actual economic strategy and policies have miserably failed to revive the economy and rebuild the infrastructure, or establish a solid foundation for an efficient market economy despite the huge cost of thousands of human lives, and security, social, political, and financial spending.

Since the fall of the former regime in April 2003, the growth of agriculture, non-oil industrial activities, and non-oil exports have been almost zero.


Therefore, maintaining the FXR and FER of US$/ID does not reflect sound macroeconomic, fiscal, and monetary policy nor keep up the real value of oil revenues from continuous deterioration resulting from hidden cost of free flow of imports


oil production policy should be linked to the fiscal and monetary policy so far as they reflect the scarcity of oil resources in relation to the country’s need for the reconstruction of public infrastructure. This can be achieved by the application of a flexible FXR aiming for both economic stability and economic growth. Therefore, using oil revenues to sustain a fixed exchange rate of ID/US$ and consequently associate the domestic interest rate to the US one would reduce the economic efficiency of utilization of oil revenues as well as restrict the role of monetary policy.
Essentially, Iraq needs an economic strategy and macroeconomic policies guided by a national long-term vision that aims to increase economic growth, employment, diversification, and the role of private sector, rather than rigid fiscal and tight monetary policies to regulate the (imaginary) short-term business cycle fluctuations through money-supply and interest rates as applicable to developed countries.
__________________

Originally Posted by coolhand009

Makes me want to buy another 5 million!!!!

Considering the amount taken out of circulation, the happenings behind the scenes, high level meetings and such....

There may not be 5 Million left to even pick up, LOL

Would be nice tho. Lets hope those meeting will produce fruit for the Iraqi people and us real soon.

Gloribee

Originally Posted by Gloribee

Considering the amount taken out of circulation, the happenings behind the scenes, high level meetings and such....

There may not be 5 Million left to even pick up, LOL

Would be nice tho. Lets hope those meeting will produce fruit for the Iraqi people and us real soon.

Gloribee

While we are waiting, let me share the total amount auctioned to date from 2003 to date.

CBI has auctioned $35.7 trillion dinars at a value of $24.4 billion US.

Oil sales have risen steadily at total $73.9 billion US.

With just these figures, it shows you how much they have been accumulating to backstop these dinars. I dont know how much was printed but I can tell you that with higher future production and higher to steady oil prices, that these dinars will be worth $$$!!!

Blair in Baghdad today on a visit that was not declared
Confident of Ismail
Baghdad - (Voices of Iraq)

Informed Iraqi sources said that British Prime Minister Tony Blair will arrive in Baghdad later today, Sunday, to visit unannounced during which he might meet Iraqi Prime Minister Nuri al-Maliki.

The sources added that stipulated that the naming News Agency (Voices of Iraq) Independent, "Blair will arrive in Baghdad today (Sunday) and it is likely to meet Prime Minister Nuri al-Maliki."

ÈÛÏÇÏ-ÈáíÑ-ÒíÇÑÉ (ÚÇÌá) :: Aswat al Iraq :: Aswat al Iraq

Makes me wonder why he is in Baghdad all of a sudden right??

Still no auction results. I am on pins and needles here folks.....

As far as an overnight RV and riches I am also almost three years into the wait. I bought my first million in IRAQ during Jan 04. I bought many more millions during my 22 months in the sandbox and I have all but that first million in 25,000's.

The Oil Connection in Iraq Study Group Report
16 December 2006 (Arab News)

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.

The Oil Connection in Iraq Study Group Report | Iraq Updates

Originally Posted by kiko

Blair in Baghdad today on a visit that was not declared
Confident of Ismail
Baghdad - (Voices of Iraq)

Informed Iraqi sources said that British Prime Minister Tony Blair will arrive in Baghdad later today, Sunday, to visit unannounced during which he might meet Iraqi Prime Minister Nuri al-Maliki.

The sources added that stipulated that the naming News Agency (Voices of Iraq) Independent, "Blair will arrive in Baghdad today (Sunday) and it is likely to meet Prime Minister Nuri al-Maliki."

ÈÛÏÇÏ-ÈáíÑ-ÒíÇÑÉ (ÚÇÌá) :: Aswat al Iraq :: Aswat al Iraq

This definetly makes sense for the Increased security I'm hearing about. No one was sure what was going on, but this certaintly says why security was stepped up.

Good find Kiko.

Gloribee

Sorry if posted already.

50 percent of Iraqis' now unemployed

Curtailing unemployment, which is now approaching 50 percent in the Iraqi workforce of some regions, is essential to restoring stability, the Iraq Directory reports.

The Minister of Labor and Social Affairs has proposed a project to offer short-term financing for new companies. With thousands of small-scale business possibilities, he has requisitioned the government to provide funds for this project in the coming year.

The plan involves offering assistance to families who are now dependent on government subsidies. Providing small, short term financing of $6,600 to initiate new businesses will also help citizens to rebuild their country.