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

I can't understand why they would need a billion from the US if they will revalue though, unless it's a trick, LOL.

Originally Posted by Inscrutable

I can't understand why they would need a billion from the US if they will revalue though, unless it's a trick, LOL.

Probably the same reason alot of millionares have a mortgage instead of paying cash for their homes, keep as much in their pockets as possible, LOL

Originally Posted by Inscrutable

I can't understand why they would need a billion from the US if they will revalue though, unless it's a trick, LOL.

Actually, come to think about it, that is a good question. SGS, WmK,Mike, OSW, any rebuttle?

Hunter

Not sure if this has been posted.

The Iraqi dinar and floating the dollar in the structure of the national economy

January 05, 2007

Thus the rolling Iraqi Monetary (nominal value) specified by the law has become a criterion for exchange transactions, withdrawal and the international circulation according to system Gold rule; although, it was related to the British pound before the revolution of July 14th, 1958, especially in terms of credit and foreign transfers, as it has a metal cover coupled with stability. After the liberation of Iraq from the ring of the (sterling Pound), the Iraqi dinar remained as a cash unit (with real value) standing on its own compared to international rates.

In spite of the many shocks that hit the developing country in conditions of political and economic changes led to the dangerous decline of many of those currencies, like what happened between Iraq and its neighbor Iran in 1980 until 1988 of a devastating war sapped the human energies and infrastructure of both countries, the Iraqi dinar was not affected much and managed to keep its true value and relative stability throughout the war period. But after the government took the wrong procedure of issuing millions of dinars of the 25 note, the Iraqi dinar had become no more than a (commercial paper) in its (nominal value) and this sinister phenomenon which was the result of the misconduct of the government, then, paved the way for the American dollar to monopolize the Iraqi market. Since then, the Iraqi dinar remained incurably ill because the performance evaluation of the Iraqi monetary, particularly in the year 1994 after the penetration of the dollar, revealed that the dinar had no real value as an Iraqi exchange measuring unit against the dollar, despite the fact that Iraq has enormous oil wealth more than any country in the world, especially European countries, in terms of trade credit and cash deal.

The American dollar monopolized the Iraqi economic policy and the dinar has not been able to stand up to it after the removal of the former regime and the loss of control by the State over its economic and commercial structures. How will the Iraqi currency be stabile when it is represented by the ill dinar which can not be cured as long as the floating dollar overwhelms the whole Iraqi market; the Iraqi seller and the buyer deal only by it. Who is responsible for this decline?

A question put before the Ministry of Finance, as the Minister stated previously on the need for (evaluating the Iraqi dinar) and called for its activation against the American dollar. Will the Iraqi parliament seek to lay the evaluation foundations of a new monetary unit all over again? Or will the dinar remain weak against the dollar? And to what level will the Iraqi economy deteriorate if its spinal column, represented by the dinar, can not withstand to be straight up any more?(Source)AlSabah

(Source)

Originally Posted by JLO's_Bubba

Not sure if this has been posted.

The Iraqi dinar and floating the dollar in the structure of the national economy

January 05, 2007

Thus the rolling Iraqi Monetary (nominal value) specified by the law has become a criterion for exchange transactions, withdrawal and the international circulation according to system Gold rule; although, it was related to the British pound before the revolution of July 14th, 1958, especially in terms of credit and foreign transfers, as it has a metal cover coupled with stability. After the liberation of Iraq from the ring of the (sterling Pound), the Iraqi dinar remained as a cash unit (with real value) standing on its own compared to international rates.

In spite of the many shocks that hit the developing country in conditions of political and economic changes led to the dangerous decline of many of those currencies, like what happened between Iraq and its neighbor Iran in 1980 until 1988 of a devastating war sapped the human energies and infrastructure of both countries, the Iraqi dinar was not affected much and managed to keep its true value and relative stability throughout the war period. But after the government took the wrong procedure of issuing millions of dinars of the 25 note, the Iraqi dinar had become no more than a (commercial paper) in its (nominal value) and this sinister phenomenon which was the result of the misconduct of the government, then, paved the way for the American dollar to monopolize the Iraqi market. Since then, the Iraqi dinar remained incurably ill because the performance evaluation of the Iraqi monetary, particularly in the year 1994 after the penetration of the dollar, revealed that the dinar had no real value as an Iraqi exchange measuring unit against the dollar, despite the fact that Iraq has enormous oil wealth more than any country in the world, especially European countries, in terms of trade credit and cash deal.

The American dollar monopolized the Iraqi economic policy and the dinar has not been able to stand up to it after the removal of the former regime and the loss of control by the State over its economic and commercial structures. How will the Iraqi currency be stabile when it is represented by the ill dinar which can not be cured as long as the floating dollar overwhelms the whole Iraqi market; the Iraqi seller and the buyer deal only by it. Who is responsible for this decline?

A question put before the Ministry of Finance, as the Minister stated previously on the need for (evaluating the Iraqi dinar) and called for its activation against the American dollar. Will the Iraqi parliament seek to lay the evaluation foundations of a new monetary unit all over again? Or will the dinar remain weak against the dollar? And to what level will the Iraqi economy deteriorate if its spinal column, represented by the dinar, can not withstand to be straight up any more?(Source)AlSabah

(Source)

this looks like a different translation of an article that was already posted, I DO NOT like the part in bold

Has this one been posted?

The Iraqi Finance Minister Baqir Jabr Al-Zubaydi before the Iraqi parliament today, Tuesday, on the need to adopt transparency in the implementation of the budget for Iraq in 2007. And the House of Representatives today resumed its regular legislative session in the second round after a quorum and the presence of the President of the Council, Dr. Mahmoud Almshahadani and a number of ministers. The meeting was devoted to the first reading of the draft law on the federal budget for 2007.

موازنة.Zubaidi said in a speech that "there is a paragraph investment within this year's budget provides for the adoption of the Iraqi dinar basis in the 2007 budget." The Iraq in the 2007 budget submitted by the government to parliament last month 41 billion dollars, an increase of $ 11 billion in the previous year's budget.

.He added that the fee-Zubaidi exchange policy is the responsibility of the Central Bank for the first time dependent (Central) economic policy and the clear need for investment in Iraq. He did not mention the Finance Minister that the political features.
Translated version of http://www.burathanews.com/index.php?show=news&action=article&id=13578


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Originally Posted by jsfletcher

this looks like a different translation of an article that was already posted, I DO NOT like the part in bold

It could mean they wonder if it will be pegged against another currency instead of the dollar?

Originally Posted by rvalreadydang

It could mean they wonder if it will be pegged against another currency instead of the dollar?

could be, however after reading it again, it does look like Joe Writer that was throwing his thoughts out there

(CBS/AP) A first wave of additional U.S. troops will go into Iraq before the end of the month under President Bush's new plan, a senior defense official said Tuesday.

Up to 20,000 troops will be put on alert and be prepared to deploy under the president's plan, but the increase in forces on the ground will be gradual, said the official, who requested anonymity because the plans have not yet been announced.

Moving first would be the 2nd Brigade, 82nd Airborne Division, which is in Kuwait and poised to move quickly into Iraq.

Roughly 11,000 troops will deploy almost immediately and another 11,000 will be phased in over the next few months, reports CBS News chief White House correspondent Jim Axelrod. But that second wave, according to one member of Congress, would be a carrot. In other words, the president won't promise the second wave unless the Iraqis become more effective partners in making Baghdad safer.

Details of the plan were emerging a day before Bush was to address the nation on his broad initiative to shore up the fragile country. They came as members of Congress kept up vocal opposition to any major escalation in the nearly 4-year-old war.

Carl Levin, a Michigan Democrat who chairs the Senate Armed Services Committee, said he expects Bush to announce that up to 20,000 additional troops will be sent to Iraq — but not to say how long the extra forces will be there.

Levin, who spoke to reporters a day after meeting with White House national security adviser Stephen Hadley, said he believes Bush will signal that the overall U.S. commitment in Iraq is not open-ended.

Bush is expected to link the troop increase to promised moves by the Iraqi government such as curbing Shiite militias that have terrorized the Sunni minority, enacting a plan to distribute oil revenue to the country's sects and easing government restrictions on members of former Iraqi leader Saddam Hussein's Baath Party.

There are currently about 132,000 U.S. troops in Iraq. Much of the increase would come from speeding up the timetable for sending some forces already scheduled to go to the country, and keeping others there who were about to leave.

The extra forces would be sent to Baghdad, which has been consumed by sectarian violence, and the western Anbar Province, a base of the mostly Sunni insurgency and foreign al Qaeda fighters, Sen. Kay Bailey Hutchison, R-Texas, and others said following a White House session with Bush.

A day before Bush's nationally televised speech, Sen. Edward Kennedy, a longtime critic, said he would propose legislation that would deny the president the billions needed to send more troops unless Congress agreed first. Though it was unclear whether the bill would ever reach the full Senate, it could serve as a rallying point for the most strident foes of the Iraq conflict.

White House press secretary Tony Snow said the president was still listening to ideas from lawmakers.

"What I'm saying is the president still continues to have an open mind because this is a way forward. This is not, 'Wave a wand and it's going to happen,"' Snow said.

He conceded that Bush has a challenge in persuading a war-weary public.

"The president will not shape policy according to public opinion, but he does understand that it's important to bring the public back to this war and restore public confidence and support for the mission," Snow said.

(Source)