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

Originally Posted by Wm.Knowles

Hello everyone. Largest movement in one day (almost 1 %) and the largest movement in one auction week. And the lowest level for the dinar? All is good for us and gives us a very good indication as to what is to come. There seems to be an increasing amount of attention now, to the dinar in the world and I think this will continue. We are approaching a 10% rise in the value and this will set off alarms in the world business community. Which means an increase in demand. We may continue to see evidence that the dinar is drying up out there, this is a good thing. So we will have a decrease in supply. The best possible place to be in. The political situation is improving and we may yet get a FIL & HCL. So enjoy the ride. Have a good Xmas weekend and we'll see what happens next week. Thank You.

Great analysis of the situation, Mr. Knowles. I always enjoy reading your well phrased posts. Demand goes up and the new investors and speculators buy in which is what pays us in on the ground floor later on down the line. It's really a well planned out process by Shabibi and the CBI. They have performed tremendously under the guidelines of the IMF. Key here is we are in on the ground floor!!! Keep that thought in mind and stay on the train for the ride.

Iraqi Minister of Finance, Baqer Jabr Al-Zubaydi, announced that "No change in the 2007 budget, which is fixed at 41 billion dollars", but he indicated "transfers and distributions will be made so that the new budget will cover all sectors of the Iraqi people to avoid the mistakes that happened in last year's budget, and the confusion that happened in the implementation of investment projects".
ISX-Data.com / 41 billion dollars, the volume of the budget for 2007

Article List >> Rice: Iraq worth investment in U.S. aid
Rice: Iraq worth investment in U.S. aid

12/21/2006

By ANNE GEARAN, AP Diplomatic Writer 8 minutes ago

Secretary of State Condoleezza Rice told The Associated Press on Thursday that Iraq is "worth the investment" in American lives and dollars.

The top U.S. diplomat said the United States can win in Iraq, although the war so far has been longer and more difficult than she had expected. She made the remarks at a time when President Bush is under pressure from the public and members of Congress to find a fresh course in the long-running and costly war, which has shown no signs of nearing an end and cost the lives of more than 2,950 American troops.

In the AP interview, Rice was asked whether an additional $100 billion the Pentagon wants for the Iraq and Afghan wars might amount to throwing good money after bad in Iraq. The U.S. has already spent more than $350 billion on the conflict.

"I don't think it's a matter of money," Rice said. "Along the way there have been plenty of markers that show that this is a country that is worth the investment, because once it emerges as a country that is a stabilizing factor you will have a very different kind of Middle East."

Rice added, "I know from the point of view of not just the monetary cost but the sacrifice of American lives a lot has been sacrificed for Iraq, a lot has been invested in Iraq."

Bush would not ask for continued sacrifice and spending "if he didn't believe, and in fact I believe as well, that we can in fact succeed," Rice said.

In a wide-ranging interview, Rice also said she has no reason to believe North Korea is serious about dismantling its nuclear weapons. "That's what we're testing," in disarmament talks this week that a Japanese envoy described as deadlocked.

Rice said a watered-down United Nations sanctions resolution against Iran would have more than symbolic value but said she has no assurances that Russia will vote for the resolution this week despite long efforts to satisfy Moscow's misgivings about sanctions.

She said she is confident all U.N. members will enforce the sanctions once passed, no matter how they voted.



Rice: Iraq worth investment in U.S. aid - Source

Iraqi Dinar News Article List

Iraq to propose new Baghdad security plan

12/21/2006

BAGHDAD, Iraq (CNN) -- Under a new plan, Iraqis will have the ability to launch security operations without a multinational OK, the Iraqi government said Thursday.

The security plan for war-torn Baghdad would ostensibly place Iraqi troops in the lead and coalition forces in a supporting role.

The plan emerged during talks among officials from the Iraqi Defense and Interior ministries as well as the Multi-National Forces in Iraq --and during the visit by U.S. Defense Secretary Robert Gates in Baghdad.

The plan, which "will see the light of day soon," according to Interior Ministry spokesman Brig. Gen. Abdul-Karim Khalaf, would create a system with "swifter mobilization and decision-making."

There will be an overall Iraqi commander for Baghdad and one commander each from the largely Sunni area west of the Tigris River, called Karkh, and the largely Shiite area east of the river, called Rusafa. One commander will be from the Interior Ministry, the other from the Defense Ministry, Khalaf said.

In addition, a commander will be in charge of nine security districts in Baghdad, he said.

Security forces will remain at the same level, Khalaf said. As many as 45,000 Iraqi security forces have been in Baghdad in recent weeks.

They'll be provided with better bomb detection equipment placed at the city's entrances and 200 explosives experts. The equipment will allow troops to detect explosives from a distance of 100 meters or more.

Iraqi Prime Minister Nuri al-Maliki's efforts to establish security in Baghdad have faltered in the face of Sunni-Shiite violence.

Attackers killed at least 18 people inBaghdad on Thursday, including 15 in a suicide strike that targeted men enlisting in the national police force, authorities said.

In addition, police found 38 bodies shot to death in what are regarded as sectarian killings, bringing the two-day count of bullet-riddled bodies found in Baghdad to 114.

Many of the people were bound, blindfolded and tortured, the Interior Ministry said. On Wednesday, police discovered 76 bodies in a similar state -- one of the highest daily body counts since the aftermath of the February bombing of Al-Askariya Mosque, the revered Shiite shrine in Samarra.

Thursday's suicide strike outside the Baghdad police academy involved an insurgent who detonated his explosives belt and killed at least 12 recruits and three police officers, the U.S. military said Iraqi police reported.

The attack also left 15 people wounded, authorities said.

In western Baghdad, a car bomb killed two people and wounded two others. Gunmen also attacked two female teachers, killing one and wounding another, as they were driving home from work.

Also in western Baghdad, armed men broke into the house of an adviser to Defense Minister Abdul Qadir, stole weapons and blew up his car. No one was at home at the time.

Meanwhile, the International Committee of the Red Cross called on kidnappers to release "unharmed, immediately and unconditionally" the remaining hostages taken from a Red Crescent office in Baghdad Sunday.

Fourteen of the 30 men taken have been freed. The Red Crescent said it will not resume its aid work in Baghdad until all are released.

Gates, the new U.S. defense secretary, met with about 15 U.S. soldiers of the 1st Infantry Division in Baghdad on Thursday to gauge whether to send more troops to Iraq. (Watch Gates seek an unfiltered view of U.S. troops, IraqisVideo)

Several soldiers said reinforcements would help, but military commanders have expressed concerns that a troop increase woulddelay Iraqis' efforts to take control of their security. (Full story)

Gates also met with Iraqi officials, including Prime Minister al-Maliki, the defense minister and members of the Iraqi Security Council, The Associated Press reported.

Gates has said the ultimate decision hinges on the "basic questions about the surge: What is the mission, what is the purpose, can we do it, how big can we go?"
Soldier, Marine killed

A U.S. soldier and Marine died from wounds sustained during combat in Iraq's volatile Anbar province, the U.S. military announced on Thursday.

The Marine, assigned to 1st Brigade, 1st Armored Division, died Wednesday, and the U.S. soldier, assigned to Regimental Combat Team 7, died Tuesday, the military said.

Roadside bombs killed two U.S. soldiers in and around Baghdad on Wednesday, the military said.

The deaths bring the number of U.S. service members killed since the start of the Iraq war to to 2,951. In the month of December so far, 69 U.S. troops have been killed.

Seven American civilian contractors of the military also have died in the conflict.

Originally Posted by crave681

Azzubaidi pointed out that 2007budget "will be set at the rate of 1260 dinar to the dollar and 50 dollars per barrel of oil with the production of 1.7 million barrels a day". He explained that the Iraqi Central Bank "started raising interest rates from 12 to 16% now", pointing out that there are no immediate plans to continue raising interest rates.

Originally Posted by crave681

So if every adult iraqi is to receive a $3500 annual pmt from the oil proceeds,
this comes to 3500 x about 12million adult iraqis at LEAST = $42B , or at least $1B beyond budget!

Next smoke and mirror....

Either that or the oil proceeds payments are bs...

Not only that but they don't have enough dinar to cover a budget of 41 billion dollars at 1260. $41 billion X 1260= 51,660,000,000,000 dinars. I know they don't need to have all 51 trillion dinars printed, but, being a cash based society they are going to need an enormous amount more than what they currently have in order to support this budget at 1260. This would contradict what Shabibi said about reducing the amount of dinar in circulation.

If the inflation problem is too many dinars chasing too few goods then they're just going to exacerbate the inflation problem by pumping more dinar into circulation. Raising interest rates won't even touch the inflation problem with all the dinar they would need for this budget.

However, if they bring the exchange rate more in line with 1:1+ they already have enough dinar, people would have a major increase in their purchasing power and inflation would be reduced. More products could be brought in because they'd be much cheaper and then less dinar would be buying more products. Competion for customers between merchants would keep prices in line.

The 1260 scenario for the budget just doesn't make any sense. I'm not buying it.

Pentagon Report Sees Progress in Iraq Despite Spike in Violence

12/21/2006

Says Iraqi government, security forces assume greater responsibility
By David Shelby
USINFO Staff Writer

Washington – A Pentagon report released December 18 identifies “incremental progress” in the capabilities of the Iraqi government and Iraqi Security Forces (ISF) over a recent three-month period despite a sharp increase in violence.

“The period covered in this report (August 12, 2006-November 10, 2006) saw incremental progress in the government of Iraq’s willingness and ability to take over responsibility, to build institutions, and to deliver essential services,” says the congressionally mandated report titled Measuring Stability and Security in Iraq. “This progress is notable given the escalating violence in some of Iraq’s more populous regions and the tragic loss of civilian life at the hands of terrorists and other extremists.”

The report states that Iraqi Security Forces “have assumed more leadership in counter-insurgency and law enforcement operations” and adds that coalition forces are nearing their goals for training and equipping Iraqi forces.

Iraq’s Council of Representatives has adopted key legislation in the areas of constitutional review, foreign investment and federal region formation, the report observes, but Prime Minister Nuri al-Maliki’s national reconciliation project, which the report identifies as a key to long-term political stability, has shown “little progress.”

The period from July to October saw sharp erosion in public confidence in the Iraqi government’s ability to improve the situation, according to State Department surveys discussed in the report. The Iraqi government must focus on key domestic issues such as enactment of a hydrocarbons law, reform of the de-Ba’athification process, demobilization of militias and a reduction in unemployment to regain the public’s confidence, the report says.

Oil production and electricity generation have risen over the past three months, though they still fall short of program goals, the report says. Daily power availability now averages 11 hours nationwide, although Baghdad, Iraq, receives electricity an average of only six hours per day. The report states that water projects have increased the nation’s supply of potable water by 35 percent over the past six months.

Although attacks on infrastructure have declined, the report says the cumulative effect of past attacks and the difficult environment for making repairs continue to impair the government’s ability to deliver basic services.

Security remains a key concern in Iraq. The report says the total number of attacks has risen 22 percent over the past three months, but it attributes part of that increase to a seasonal spike in violence during the Muslim holy month Ramadan. It says the majority of attacks are aimed at coalition forces and that most civilian violence remains localized in neighborhoods with mixed Sunni and Shiite populations. More than three-quarters of all attacks are taking place in only four provinces: al-Anbar, Baghdad, Salah ad-Din and Diyala. According to the report, more than 90 percent of Iraqis outside the Sunni Triangle say they feel “very safe” in their neighborhoods.

The report notes that the Iraqi Ministry of Defense assumed command and control of the Iraqi Ground Forces Command (IGFC) in September. It anticipates that the IGFC will take full control of all 10 divisions of the Iraqi army by June 2007. The report says the most significant challenges on the security front are addressing the ISF’s shortcomings in logistics management and reforming the Ministry of Interior’s police force to eliminate militia infiltration.

The full text of the report (PDF, 53 pages) is available on the Department of Defense Web site.

For additional information, see Iraq Update.

(USINFO is produced by the Bureau of International Information Programs, U.S. Department of State. Web site: USINFO - The United States Department of State)

Pentagon Report Sees Progress in Iraq Despite Spike in Violence - Source

If Rolclub is to be down for 24/48hrs for updates is epluton still available for communication?? Thanks in advance.

Originally Posted by maxib

If Rolclub is to be down for 24/48hrs for updates is epluton still available for communication?? Thanks in advance.

Unfortunately it is not. That forum expired a few weeks ago.

Apologies if already posted and I'm sure it has but I don't have time today to go back through overninght posts. And anyway nothing wrong with seeing good news again eh folks?!

Sounds like they agree the Oil Law, WOOOOOOOOOOOOOOOOOOOOOOT.


The prime minister of the Kurdistan Regional Government in northern Iraq, Nechirvan Barzani, said he has reached an agreement with the federal government on the control of oil in the region a major source of friction between the Kurds and Baghdad and a stumbling block that was delaying the issuance of a crucial hydrocarbon law.,

Barzani also said that the Iraqi federal government would discuss in a few days a final draft of an Iraqi hydrocarbon law before sending it to the parliament in Baghdad for approval.

A hydrocarbon law is crucial for Iraq as a basis for international oil companies to begin discussions on investing in the country's under-exploited and run-down hydrocarbon sector and to generate much-needed reconstruction revenues for the country's coffers.

"After long discussions we have reached positive and good results on the issue of oil," Barzani told reporters in the Kurdish city of Erbil Wednesday night after concluding several days of talks in Baghdad.

The Kurds are pressing for control of oil resources in their northern territories and a significant share of oil revenue, which has provoked anger in Baghdad. Officials in the capital say oil resources across Iraq should be controlled by the federal government in Baghdad.

The issue of who should sign oil contracts with international companies in the Kurdistan region was the main sticking point preventing the federal hydrocarbon law from being accepted.

A preliminary draft copy of the law, obtained by Dow Jones Newswires earlier this month, stated that all oil contracts with international companies should be handled by the Iraqi Oil Ministry in Baghdad.

According to the new agreement reached between the Kurds and Baghdad, negotiations with international companies planning to invest in the Kurdistan region would be carried out by local officials along with a representative from the federal government in Baghdad, Barzani said.

Before a final signature of any contract, a draft copy would be sent to Baghdad for review and if the authorities in Baghdad agree on the details, the contract would be signed in Kurdistan with the company, he said.

Barzani said the federal government in Baghdad will set up a committee of experts to review and approve oil contracts.

He said it has been agreed that oil revenues should be distributed evenly among all Iraqis whether the oil produced in the north, center and south, a point already stated by the draft law.

Iraq has huge reserves, third only after Saudi Arabia and Iran. But its oil sector needs up to $20 billion in investments to raise crude oil production to 3 million barrels a day from below 2 million b/d at present.

The sticking point over a hydrocarbon had had always been the issue of how much control the regions should be given over resources in their areas.

Although Baghdad has been displeased with the fact that the Kurds have awarded contracts to oil minnows in the mostly unexplored northern part of Iraq, they are more worried it could set a precedent, particularly in the oil-rich south, where most of the country's giant hydrocarbon structures lie.

The four main principles for the draft law currently under debate remain the issue of federal versus regional control, the sharing of oil revenues, the types of contracts that are awarded and the formation of an Iraqi National Oil Company to handle the country's oil production, exports and exploration.

The Kurdish authority has already signed agreements with several small oil and gas companies, including U.S.-based Calibre Energy Inc. (CBRE), Norway's DetNorske Oljeselskap (DNO.OS) and Turkey's Petoil.

But without the hydrocarbon law, many of the large oil majors have been reluctant to make deals despite the huge oil prospects and relative security in northern Iraq.

-By Hassan Hafidh, contributing to Dow Jones Newswires;

Rice: Iraq worth investment in U.S. aid

12/21/2006

By ANNE GEARAN, AP Diplomatic Writer 8 minutes ago

Secretary of State Condoleezza Rice told The Associated Press on Thursday that Iraq is "worth the investment" in American lives and dollars.

The top U.S. diplomat said the United States can win in Iraq, although the war so far has been longer and more difficult than she had expected. She made the remarks at a time when President Bush is under pressure from the public and members of Congress to find a fresh course in the long-running and costly war, which has shown no signs of nearing an end and cost the lives of more than 2,950 American troops.

In the AP interview, Rice was asked whether an additional $100 billion the Pentagon wants for the Iraq and Afghan wars might amount to throwing good money after bad in Iraq. The U.S. has already spent more than $350 billion on the conflict.

"I don't think it's a matter of money," Rice said. "Along the way there have been plenty of markers that show that this is a country that is worth the investment, because once it emerges as a country that is a stabilizing factor you will have a very different kind of Middle East."

Rice added, "I know from the point of view of not just the monetary cost but the sacrifice of American lives a lot has been sacrificed for Iraq, a lot has been invested in Iraq."

Bush would not ask for continued sacrifice and spending "if he didn't believe, and in fact I believe as well, that we can in fact succeed," Rice said.

In a wide-ranging interview, Rice also said she has no reason to believe North Korea is serious about dismantling its nuclear weapons. "That's what we're testing," in disarmament talks this week that a Japanese envoy described as deadlocked.

Rice said a watered-down United Nations sanctions resolution against Iran would have more than symbolic value but said she has no assurances that Russia will vote for the resolution this week despite long efforts to satisfy Moscow's misgivings about sanctions.

She said she is confident all U.N. members will enforce the sanctions once passed, no matter how they voted.




Rice: Iraq worth investment in U.S. aid - Yahoo! News


Iraqi Dinar News Article List