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

Originally Posted by day dreamer

Announcement No.(828)

D.G. of Foreign Exchange Control

The 828 daily currency auction was held in the Central Bank of Iraq day Monday 2006 / 12/ 18 so the results were as follows :

Details Notes
Number of banks 8 -----
Auction price selling dinar / US $ 1388 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 12.095.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 12.125.000 -----
Total offers for selling (US $) ------ -----





D.G. of Investments

Daily price Bulletin buying and selling Sunday 2006/12/17

Currency
Currency Code
Selling Price In IQD
Buying Price In IQD

US Dollar
USD
1411.000
1409.000

WooWooWooot.... All aboard the Dinar Express.

Oh hell, Yehawwwwwww...

12 more down, here we go Dinar, here we go...

Night all. Sorry for being such a pessimist........NOOOOOOOOOT.

The completion of the preparations for Astthmarthlath oil fields in Nasiriyah
Nasiriyah / new morning

Al ((new morning)) that the South Oil Company based in Basra Governorate completed Sthoudaratha to invest in three oil fields in the province of Nasiriyah, a production capacity of 530 thousand barrels per day.

An engineering company that fields prepared for the national investment among the field of Nasiriyah card and 300 thousand barrels Graves Battakhmaeh and twenty thousand barrels Rafidain card and 110 thousand barrels per day.

He pointed out that the company's plan also included investment Artawi gas field, which is the third field to invest in gas after the Rumaila and Hamarizker that there are many fields indexed and others invested in the province.

ÇßãÇá ÇáÇÓÊÍÖÇÑÇÊ áÇÓÊËãÇÑËáÇË ÍÞæá äÝØíÉ Ýí ÇáäÇÕÑíÉ :: Aswat al Iraq :: Aswat al Iraq

Another great day on the auction! Remember this exchange rate movement is supposedly all about fighting inflation. I found this in an IMF pdf file that we have read before. And now that we are seeing some movement in the exchange rate makes this interesting......


http://www.imf.org/external/pubs/ft/...06/cr06301.pdf


"8. Inflation has recently begun to accelerate. The twelve-month rate of inflation ended 2005 at 31.7 percent, largely unchanged from end-2004 and higher than the 20 percent targeted under the SBA. Inflation has since accelerated, with twelve-month inflation reaching 58 percent by May 2006. The factors driving inflation have been changing over the past two
years (Box 1), but the ongoing insurgency, and the resulting acute shortages of certain goods (especially gasoline and other fuel products), continues to play a major role. It is also possible that rising international crude oil prices and growing spending power in the economy are pushing up Iraq’s equilibrium real exchange rate. With the nominal exchange rate fixed, the real exchange rate adjustment is reflected in a rising domestic price level."


So here even the IMF reveals that that there is a visible exchange rate and a REAL EXCHANGE RATE....

Originally Posted by H2O_Lover

If it was real i would think it would be listed at the CBI !

They already found out that it's a Ethiopian proof from 1976 and posted by
Vanquish (read the name backwards) Fake all the way around.

Number of banks 8 -----
Auction price selling dinar / US $ 1388 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 12.095.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 12.125.000 -----
Total offers for selling (US $) ------


Goooooooooooooood Morning RolClub !!


Another 12 points on this auction. Can you believe these numbers. A greater drop in the dinar from yesterday and yet the volume at the CBI is even less. This ought to wake up those jerks at Time, Newsweek, NY Times, Washington Post and all the other mainstream press that had such blinders on for the past three years. I agree with Knowles and another poster that from an acounting point of view it does not make sense to reval in the middle of an accounting period. End of year, end of quarter etc makes alot of sense to me. End of year seems logical. I have two theories on what could happen next, I'll post them below.


1. The dinar to the dollar is down 12 more points today from 1400 to 1388

2. Another $12,125,000 (net) worth of dinars, (IQD 16,787,860,000) out of circulation

3. 8 banks participating.

4. 46th auction since the beginning of CBI's reval plan

5. 79 days into the CBI's reval plan.

6. 2,802,489,087,000 dinars pulled from circulation !!

7. No Dinars back into circulation today again !!

8. 89 dinar change since Nov 1st (baseline was 1477) 6.025% increase in value of the dinar since beginning of reval plan.

Theory 1.

Shark Fishing,

When you fish for sharks, you chum the water with blood to bring in all the sharks. If the CBI has reached or is very near their goal for recovering dinars from the economy, now they want the feeding frenzy to begin on the dinars that are outside of Iraq and being held by speculators. Just the speculation alone on the remaining dinars could help drive up the price without ever having to raise the rate from the CBI's point of view. The amount of money that could pour into the CBI when they go international could extremely limit the CBI's liability against their currency reserves and the traders could carry the brunt of the "Exchange Shock".

Theory 2

Bait and Switch.

Lower the value of the dinar to say a level of 1000 to the dollar, hold it there for a few days then bounce it back up to say 1150 tor 1200. Can you imagine how many people would think they had missed their opportunity at least to break even on their investment and they would panic and sell off some or all of their holdings. This might bring in another trillion or so dinars to the CBI. Just a theory, will see what happens in the near future.

Can you believe the miracle we are witnessing right before our eyes !!

A decline in demand for the dollar and the Bank does not cover all applications
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)


Continued decline in the demand for the dollar today, Monday, for the second consecutive year in the second sessions of this week, recording the volume reached 12 million and 125 thousand dollars against 24 million and 930 thousand dollars yesterday, Sunday.

The bank, covering 12 million and 95 thousand dollars, including at four million and 645 thousand dollars in cash and seven million and 450 thousand dollars in the form of remittances outside the country and the exchange rate amounted to 1388 dinars at low 12 points on the exchange rate yesterday of dinars in 1400, did not submit any of the eight banks participating in the auction, offers to sell the dollar to the bank.

He explained the Yasiri, one dealing with the auction News Agency (Voices of Iraq) that the independent daily volume decline in the number of points does not serve the market price or transaction and lose confidence because i Hpo 12 points in each meeting will depend market as a precautionary measure and waiting for further price decline, only to meet urgent needs and transactions.

ÏæáÇÑ - ØáÈ (ÇÞÊÕÇÏ) :: Aswat al Iraq :: Aswat al Iraq



Go Dinar!!!

Posted by Kiko

He explained the Yasiri, one dealing with the auction News Agency (Voices of Iraq) that the independent daily volume decline in the number of points does not serve the market price or transaction and lose confidence because i Hpo 12 points in each meeting will depend market as a precautionary measure and waiting for further price decline, only to meet urgent needs and transactions.


I haven't done this before so I'm a little nervous, kind of like riding a bike with training wheels.


WwwoooooOOOOOOTtTtTttTTTTTTT

Originally Posted by Socata 850

Posted by Kiko

He explained the Yasiri, one dealing with the auction News Agency (Voices of Iraq) that the independent daily volume decline in the number of points does not serve the market price or transaction and lose confidence because i Hpo 12 points in each meeting will depend market as a precautionary measure and waiting for further price decline, only to meet urgent needs and transactions.


I haven't done this before so I'm a little nervous, kind of like riding a bike with training wheels.


WwwoooooOOOOOOTtTtTttTTTTTTT

Things are looking good Socata!

I am enjoying everyday of this investment. We are right on to where we all believed in here on the Rolclub!

WWWWEEEAAAHHHH!!

Originally Posted by panhead

They already found out that it's a Ethiopian proof from 1976 and posted by
Vanquish (read the name backwards) Fake all the way around.

Vanquish is such a sad case. He pulled this stuff at IIF all the time, yet he professes to not hold any dinar. Just go away VQ, and live your miserable life alone in a hole !!

Originally Posted by Socata 850

Number of banks 8 -----
Auction price selling dinar / US $ 1388 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 12.095.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 12.125.000 -----
Total offers for selling (US $) ------


Goooooooooooooood Morning RolClub !!


Another 12 points on this auction. Can you believe these numbers. A greater drop in the dinar from yesterday and yet the volume at the CBI is even less. This ought to wake up those jerks at Time, Newsweek, NY Times, Washington Post and all the other mainstream press that had such blinders on for the past three years. I agree with Knowles and another poster that from an acounting point of view it does not make sense to reval in the middle of an accounting period. End of year, end of quarter etc makes alot of sense to me. End of year seems logical. I have two theories on what could happen next, I'll post them below.


1. The dinar to the dollar is down 12 more points today from 1400 to 1388

2. Another $12,125,000 (net) worth of dinars, (IQD 16,787,860,000) out of circulation

3. 8 banks participating.

4. 46th auction since the beginning of CBI's reval plan

5. 79 days into the CBI's reval plan.

6. 2,802,489,087,000 dinars pulled from circulation !!

7. No Dinars back into circulation today again !!

8. 89 dinar change since Nov 1st (baseline was 1477) 6.025% increase in value of the dinar since beginning of reval plan.

Theory 1.

Shark Fishing,

When you fish for sharks, you chum the water with blood to bring in all the sharks. If the CBI has reached or is very near their goal for recovering dinars from the economy, now they want the feeding frenzy to begin on the dinars that are outside of Iraq and being held by speculators. Just the speculation alone on the remaining dinars could help drive up the price without ever having to raise the rate from the CBI's point of view. The amount of money that could pour into the CBI when they go international could extremely limit the CBI's liability against their currency reserves and the traders could carry the brunt of the "Exchange Shock".

Theory 2

Bait and Switch.

Lower the value of the dinar to say a level of 1000 to the dollar, hold it there for a few days then bounce it back up to say 1150 tor 1200. Can you imagine how many people would think they had missed their opportunity at least to break even on their investment and they would panic and sell off some or all of their holdings. This might bring in another trillion or so dinars to the CBI. Just a theory, will see what happens in the near future.

Can you believe the miracle we are witnessing right before our eyes !!

Hello everyone. I think our friend Socata 850 has done a nice job as always keeping us up to date on where we are. Increasing at an increasing rate. This will be our theme and I think this will be confirmed this week. Since we almost had a 1% jump in a single auction, I expect we will see 1 to 2 % jumps in the value of the dinar in the next few days. Already we are viewing many reports about dinars being harder to get and the street price being more expensive than the official rate. A good sign. Market psychology is beginning to take hold. Others in the ME and the world will begin to take more and more notice and larger speculators will come into play. Since the CBI continues to buy dinar and not sell, then supply is limited and facing increasing demand. The classic situation for prices to rise. If these values keep improving at this rate or better, then a week in the Caymans is very possible/probable this summer. This will prove to be a wild ride in the next few weeks. So hold on! Everyone have a good day. Thank You.