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

Increase in Average Production and Export of Crude Oil

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28 June 2006 (Baghdad: Al Sabah newspaper)

The Ministry of Oil has announced a noticeable increase in both average crude oil production and in the level of exports. Average production now stands at 2.5 mbd, with exports at 1.9 mbd. This is the highest level since the fall of the Saddam regime over three years ago.

Assem Jihad, the official spokesman at the Ministry, told AL Sabah that the increase in the average level of crude oil production is in accordance with the Ministry's plan to develop the oil industry and increase average production and exports.

He explained that average exports from the southern outlet in the Gulf is 1.6 million bd., while average exports from the Turkish Ceyhan in the Mediterranean is 300,000 bd. of Kirkuk crude. He added that the next stage of development will see the implementation of laws to deal with the arrangement of foreign investment operations and the encouragement private sector involvement through the enactment of laws that allow the setting up of new distribution centers, the establishment of oil refineries, and the import of petroleum products with sales directly to consumers.

Iraq-Currency
Transfers raise demand for dollars in Iraqi central bank auction
Baghdad, June 27, (VOI) – Demand for U.S. dollars rose in the daily auction of Iraq’s Central Bank on Tuesday on the back of higher transfers abroad.

The value of transfers was $12 million, the highest in the central bank auctions for two months, the bank said in a statement.

Total bids from 16 banks amounted to $41.115 million, of which $29,115 million were in cash, it added.

The Iraqi currency's exchange rate remained steady at 1,477 dinars to the dollar.

Quoted rates for major currencies were as follows:
U.S. dollar 1,476.262-1477.000
Euro 1,853.299-1,854.266
Sterling pound 2,685.320-2686.663
DM
http://www.aswataliraq.info/modules....rder=0&thold=0

Originally Posted by Raditz

Call to Speed up Publishing of Foreign Investment Law

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28 June 2006 (Baghdad: Al Sabah newspaper)

A well-known expert in the shares and securities market has called for a speeding up of the enactment of Iraqi foreign investment law and the development of Iraqi exchange law.

Munaf AL Saigh, a prominent member of the Iraqi Center for Economic Reform said in a statement to AL Sabah that current heated discussions on the subject of the Iraqi stock exchange are healthy and require action.

He added that every country's stock exchange is the central point for investment activity, and a determinning factor in economic flexibility and political and economic stability. From the technical and daily operational point of view, stability is an absence of violence and the freedom for capital to enter and leave the country.

AL Saigh continued to say that the government should at once and without delay begin the reenactment of foreign investment laws to permit foreign investment and to involve investors, businessmen, academics, experts from the Chamber of Commerce, and economic experts from within and outside the Ministry of Trade to participate in the setting of flexible laws that serve the country's economy and strengthen the position of local and foreign investors.

I love this part! "at once and without delay" Doesn't that mean "get your butt movin". LOVE IT! LOVE IT! LOVE IT! Thanks Raddie, you started my morning of great again!

Anything for you dear

Retired Iraqi General Says Record Number of Muslims Turning to Christ
In spite of the continuous spate of bad news coming out of Iraq, unprecedented religious freedom has finally come to Iraq because of U.S. military action there, and more Iraqi Muslims are becoming followers of Jesus Christ today than at any other time in the history of the country. ASSIST News reports that message came from retired Iraqi General Georges Sada May 22 at a private dinner at McLean Bible Church in northern Virginia where Sada spoke to more than 1,000 people. Sada, a former air force fighter pilot who once served as a senior military advisor to Saddam Hussein, became the chief spokesman for Iraqi Prime Minister Iyad Allawi during the interim government, just after the war. Now he serves as a senior national security advisor to Iraqi President Jalal Talabani and has been helping redesign the new Iraqi military, along with his efforts to strengthen the Christian church in Iraq.

Originally Posted by robmccallum01

HAHAHHAHHAHA last time you'll see this eh?!?!?!? LMAO. I must say I have to thank you for starting this thread Adam because without it, I would NEVER have looked to see what this whole dinar thing was all about. Not many people would have thought to invest in the Iraqi Dinar of all countries lol. It's so funny because there are several people whom I told about this investment who just laughed in my face and told me they will buy it off me for .5 each note so they can use it as toilet paper to wipe their arses. Boy will they be in for a BIG surprise when they see a moving truck pulled up to my townhouse and I tell them I just bought a new home AND car LOL. I suppose some people just cannot open their minds up enough to see an opportunity when they see one....even if it means losing a bit of money. C'est la vie eh!!

Cheers all,

Rob

Good one Rob,

I wonder how many of us have experienced the same as you over the years? LOL The one thing I have learned over the years is simple lesson all of us can relate to, No Risk, No Return, it is as simple as that.

Most people think risk takers or entrepreneurs like us are crazy, and you will never be able to change their minds for the are all doomed to fail for never taking any risk. Not that there is any real risk here, but most of us are here because of the risk taken in PIPS, and we are a special breed. LOL

Good luck to all, Mike

Adster?
Now dear, I was all set to not take a job that I am not really suited for. What do your sources say today? Doesn't ANYONE have a reliable psychic in their pocket?

Originally Posted by Offshore-Wealth.com

Most people think risk takers or entrepreneurs like us are crazy, and you will never be able to change their minds for the are all doomed to fail for never taking any risk. Not that there is any real risk here, but most of us are here because of the risk taken in PIPS, and we are a special breed. LOL

Good luck to all, Mike

You've hit the nail there Mike... It's easy to ly back and comment from a bathtub bubbling with negative ions steaming out but the risk they fear is one that is inborne...negligible and out of scope...well, getting out and diving into a larger pool ...takes just that "extra" to see it all ahead of you...as panoramic as a pool can get... go for your bucks.. grab while your hands can hold them all!!

Originally Posted by clueless

pretty sure that xxxxx is not related to any US entity. probably some world bank or monitary organization. but no idea if this is real.. would be nice to know.

also, doesn't seem to me like this really puts the time "between" july 21 and october 1. i think it is saying that the deadline might have been extended from july 21 out to october 1. it could still happen tomorrow as i read this. and i think they have to do something very fast, either reval or freeze or retract this statemen or things will go extremely crazy.

All I know is that the average Iraqi citizen won't be able to survive if the prices for needed items keeps going up, but their currency value stays the same, ESPECIALLY until October..IMO...

Originally Posted by pipshurricane

I think mr.loops mean that:

25000.....would equal 25 Dinar
10000.....would equal 10 Dinar
5000.......would equal 5 Dinar
1000.......would equal 1 Dinar
That just took everything out of circulation below that would be change and the 100 Dinar coin they have now would be the largest currency they would have.
They would have to print everything again to even get a 100 Dinar paper note and deal with re-distribution to all the banks to put them in circulation. They would have to pull all current paper notes in circulation out of circulation also.

I believe we will go from .00068 to .68 and the current notes will be removed as they get turned in.

Any other way of doing it leaves Iraq in total disarray and de-stabilizes the monetary system and the Dinar that they have tried so hard to keep stable!

For me that don't make sense but for you? :)

AT FRIGGIN LAST!!!!!

Someone who actually understands whats going on.

Thats exactly what i mean. A Zero Lop...

They said "LIFT" three zeros. How are they going to do that i wonder?

What i thinks going to happen is they are going to zero lop the currency so the value is 0.68. Then they are going to raise the value of it up to 1 dollar to one dinar from there. So to spell it out.

0.00068 goes to 0.68 via reprint and zero lop

Then

0.68 climbs its way up to 1.00



The new denominations have apparently already been printed. So dont say a reprint cant happen.

Ok say your uberpositive scenario does come into plan. What happens when people try to pay for a can of coke now one dinar with a 10k bill?

Have you got change for 10000 bucks please? NO? Outrage!

So i wander down to the bank with my 10000 dinar bill and ask them if they could break it down into smaller currency forms please along with everyone else in the country. TALK ABOUT A RUN ON THE BANK.


That is unless you guys think that a can of coke is still going to be 1000 dinars or so?

Better be the best dam coke ive ever had.

There really is no other way i can think of that this is going to work.

Raditz i think your going to be owing me a beer soon. lol