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

Fantastic news here today. It seems that we all are getting richer everyday so I just have to say, thanks to all and:

for facks sake we're all gonna be RICH!!

Originally Posted by postcon

Didn't the recommendation by IMF suggest 1345? I don't think there was a range specified. Nevertheless, looks like that rumour was the closest one so far!

My point is that it was not a rumor it was the IMF target amount put in place back in '04. It would be like me saying "my source told me that Iraq plans to increase interest rates by 10%-15%". It's not really a rumor after it's been printed for all to see.

well i will be glad when it gets to the 1100's as that will put me into the black. lets hope it is soon !

Originally Posted by CharmedPiper

Iraq : a big leap in the price of fuels

(Voice of Iraq) - 12 - 18-2006
This issue was sent to a friend
Baghdad-Adel Mahdi life-18 / 12 / 06 / /

Dominating the market of oil products in Iraq, the chaos of the price increase in an unprecedented manner in light of the skepticism of the ability of popular officials in the Ministry of Oil to meet the needs of the citizens of oil derivatives, in particular domestic gas and diesel before the onset of winter, despite reiterating the existence of large stocks of oil derivatives.

The prices of petroleum products to the highest rates in the black market, it increased the price of gas cylinders to 25 thousand dinars (18 dollars), while the price per liter of diesel thousand dinars. The news media about the ability of citizens to their hopes and Oil Minister Hussein Shahrastani to end the crisis of oil derivatives, and put an end to the networks, which plays need citizens have vanished, the solutions proposed by the level of corruption was rampant in all joints derivatives distribution network from the source to the citizen. The news media organizations details of the activity are called «» sailors, or the black market, who are still ******* of the market, the price of fuel makers. Citizens and accuses officials of the Ministry, b »« blind eye on abuses in the Journal of packaging and distribution, and collusion with the mafiosi manipulate the interests of citizens. He warned citizens of a crisis, fuel range, in the event of continued Iraqi Oil Ministry to ignore the causes of the current crisis, and the crazy rise in the prices of fuels and put an end to the activity of the black market.

That's a pretty steep price for fuel @ about 2.73 USD/ gallon
I understand the attempt to stem a blackmarket but now they must add proportionate purchasing power. A rate of One to one or a bit higher seems to be the reflected requirement to support this price of fuel. Plus I recall that the IMF was pushing for higher fuel prices.

Originally Posted by lndmn_01

My point is that it was not a rumor it was the IMF target amount put in place back in '04. It would be like me saying "my source told me that Iraq plans to increase interest rates by 10%-15%". It's not really a rumor after it's been printed for all to see.

Fair enough. Not going to debate the nitty gritty or terminology! At least, this particular person caught onto that rather than some dealer-initiated rumours to further their sales or some weird members who claim to have sources in the govt. The bottomline is that rumours so far have failed to transpire. I agree with your take to a certain extent. Thanks.

Originally Posted by billknows

We'll see a major adjust in dinar value Midnight Jan 1st, 2007

link?

their business year doesnt start until the 2nd. we know they are starting the budget with the revalued dinar. how hard is it to guess? and what time zone are you having this fantasy about??

dont just make random statements without a IN MY OPINION notation or I THINK or SEEMS TO ME.

this is the NEWS THREAD, IF YOU HAVE A PREDICTION TAKE IT TO RUMORS/PREDICTIONS.

Originally Posted by Pippyman

So.... you think the IMF, World Bank, Iraqi officials, banking officials of the world MISCALCULATED THE AMOUNT OF DINAR TO PRINT????

NO!

They printed the right amount of Dinar based on the GDP of the country and the relative value of each Dinar in comparison, at the time.

One thousand pennies has the same value as a $10 dollar bill. The more money you print for the same amount of product, the less each monetary unit is worth.

You have X amount of products and services divided by the amount of moneys to transfer the products and services. Lots of Dinars (14 Trillion) divided into $94 billion dollars worth of goods and services per year (Iraq annual GDP) results in a currency with a very small value per unit.

Why did they do this?? Very good question!!!

IMO, When they changed the monetary units they exchanged one old Dinar for one new one. The net affect, all those who became wealthy under the old regime instantly became poor.

Originally Posted by MrsCK

Can anybody get the Offical publication website to come up?

link: www.uruklink.net

It's not working on my end.
Network Error (dns_server_failure)

Your request could not be processed because an error occurred contacting the DNS server.
The DNS server may be temporarily unavailable, or there could be a network problem.

For assistance, contact your network support team.

now heres a 1st in 3 years of checking that site! moving it?? coz we know they arent editing it, that can be done while it is still up.

Originally Posted by Precocious

NO!

They printed the right amount of Dinar based on the GDP of the country and the relative value of each Dinar in comparison, at the time.

One thousand pennies has the same value as a $10 dollar bill. The more money you print for the same amount of product, the less each monetary unit is worth.

You have X amount of products and services divided by the amount of moneys to transfer the products and services. Lots of Dinars (14 Trillion) divided into $94 billion dollars worth of goods and services per year (Iraq annual GDP) results in a currency with a very small value per unit.

Why did they do this?? Very good question!!!

IMO, When they changed the monetary units they exchanged one old Dinar for one new one. The net affect, all those who became wealthy under the old regime instantly became poor.

I can guarentee that all those that were part of the regime and were rich held dollars, not dinars.

Originally Posted by jer6925

I dont know about you but I have been to the Caymans in summer and swimming with the stingrays in 30C water was one of the best experiences of my life. I really dont care when I go but I will visit Stingray City again soon. I hope you all swim???

if not, waterlover is a swim coach and can hold group sessions!!