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

Folks I have a few thoughts on some of the issues that are being talked about in the last couple of days.

First, the forecast of 1260 dinar to the dollar. Making this value public does a couple of things. One it lets the average Iraqi know that there is a plan and that the government has a direction. Another benefit it will shake the weak hearted Dinar investor out of the trees, as well as misdirect potential investors. And the biggie. Remember how we all budget our own funds. We base the amount of our buget based on needed expenditures and expected income. We set a minimum that we'll need of our income as applied to the maximum we would expect of our expenditures. The GoI is no different. By basing their budget on the 1260 number they are stating that that is the least that they expect the value of the dinar to be. Everything else better than that is gravy. That 1260 number is just a base value in order to give them a bottom floor for income. The same thing goes for the $50 a barrel of oil. We all know that would be the absolute minimum they will get for oil.

I know that there will be those that will laugh at this next statement but here goes. I believe that the stated budget Iraq in 2007 will have no influence over the value of the dinar. None, nadda, zip. The value of the dinar will be determined by the international market and the growth of the Iraqi economy. The dinar is not tied to the budget but rather going forward as the dinar grows in value the budget will expand due to the increased buying power of the dinar.

The Culprit has been Captured. You may experience some slowness are some wierd stuff over the next hour or so. Our Server Company has been notified and Security and Other Software Updates are being Emplemented right Now. Just Letting you Guys/Gals know what is up. If I dont, My Pm Box will explode. Ok, Carry-On.

Originally Posted by Inscrutable

It means the mailbox quota has been reached and your mail was bounced back to your mailserver, kinda like when our PM's here are exceeded and we have to purge. No one read it.

Actually not sent back yet but if they don't make room for your message the mailserver will return it.

Yes I agree, but look past that and at the message itself. It will continue to try and deliver. If not able to deliver, will return to me. Correct? But if I do not get back, this means they are in effect reading there mail again, which in itself means somebody is at work and the Gov't body is again operatonal. This was my point. It tells me somebody is at work.

OK, maybe I try and read between the lines to much. Only thing is it has worked for me on numerous occasions. Grab what ever is available, its all good.

Thanks for responding.

Gloribee

I have had a PM from some one that I only Bank with on the Dinar. He has told me that the HCL is a done deal, and now finally publically announced. I havent seen anything. Where was it Announced. Thanks Ahead Gang.

Originally Posted by neno

I have had a PM from some one that I only Bank with on the Dinar. He has told me that the HCL is a done deal, and now finally publically announced. I havent seen anything. Where was it Announced. Thanks Ahead Gang.

The only one I've seen concerning the HCL is this one posted this morning by Adster (post #164).

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;

Originally Posted by neno

I have had a PM from some one that I only Bank with on the Dinar. He has told me that the HCL is a done deal, and now finally publically announced. I havent seen anything. Where was it Announced. Thanks Ahead Gang.

Were on it boss!!! OK gang lets do it !!!!

Gloribee

Wow!!! This is GOOD. I was wondering what and where it was that he was talking about. Now I see it where it was Public Announced. We are very close for all this to Start. This should indicate some Great things about to take place. Sorry that I had not seen this and had to ask for it. Thanks.

Originally Posted by Gloribee

Were on it boss!!! OK gang lets do it !!!!

Gloribee

Goin nuts Haven't found ANYTHING yet

Al-Qaeda offers US safe passage from Iraq

From correspondents in Dubai
December 23, 2006

THE head of an al-Qaeda-dominated group in Iraq offered to give US troops a month to pull out free of attack in an audiotape posted on the internet overnight and demanded an answer within two weeks.
Abu Omar al-Baghdadi also charged that Washington had attempted to open communications through Saudi intermediaries but said he had rebuffed the overture, in the voice recording whose authenticity could not immediately be verified.

"We are offering you the opportunity to withdraw your troops in complete safety and we are expecting your response within two weeks,'' said the voice purporting to be that of Baghdadi, leader of a self-proclaimed Islamic emirate in western and north-central Iraq that is dominated by al-Qaeda supporters.

"We appeal to President George W. Bush to seize this historic opportunity which should allow your troops to pull out in safety,'' it said.

Bush has faced intense political pressure to overhaul his Iraq policy, following the rout of his Republican party in mid-term elections, rock-bottom approval of his management of the Iraq war and mounting US combat deaths.

A policy review by the Iraq Study Group, a bi-partisan panel, recommended that all frontline US troops be withdrawn by early 2008.

But Mr Bush made it clear Wednesday that he was opposed to any precipitate withdrawal from Iraq and that in the short term US troop numbers might even rise.

"I want the enemy to understand that this is a tough task, but they can't run us out of the Middle East; that they can't intimidate America,'' he said.

The voice recording also charged that US officials had made contact with the al-Qaeda front organization through Saudi intermediaries in a bid to open up communication but said that the overture had been rebuffed.

"The giant has begun to collapse and is seeking to negotiate through various parties, particularly through its agents,'' it said.

"It conveyed to us through the Saud family (the royal family in Saudi Arabia), the dictators of the (Arabian) peninsula, its desire (to negotiate), claiming already to have sat down with all parties apart from us.

"But we told it: 'We don't negotiate with those who have shed the blood of our children'.''

US officials have expressed readiness to open up communications with insurgent groups in Iraq but have always excluded those with links to al-Qaeda.


Al-Qaeda offers US safe passage from Iraq | | The Australian

Originally Posted by neno

Wow!!! This is GOOD. I was wondering what and where it was that he was talking about. Now I see it where it was Public Announced. We are very close for all this to Start. This should indicate some Great things about to take place. Sorry that I had not seen this and had to ask for it. Thanks.

After reading that Article more in the Highlites and not. I see that it needs a final signature. I wouldn't worry about that cause it seems the Kurds have agreed to the Central Goverment on thier demands. Also remember that the Preisdent in Baghdad is Tellabani (Spelling) and he is a Kurd too. I believe this is a done deal as my pm has stated.