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

Originally Posted by Jetsa1

Rob, in the first place, no one knows for sure what the new value rate will be, everyone is still "speculating". Until the Iraq officials come out of their meeting and make their decision publicly known, no one will know for sure. No one knows "for sure" what the official who made the comments about "raising the 3 0's" means either, the message was too cryptic (maybe intentionally, maybe not). One thing you can almost bank on though is the dealers are businessmen and will raise, or lower, their prices as their market deems necessary. Meaning, if there is a general consensus that the value of the Dinar is going to rise, then so will their prices, and vice versa.

My personal belief is that the Dinar will skip 1000/1, 800/1, etc. and jump past .01+. How far past I dont dare guesstimate. .70 being the highest IMO. The prewar level mentioned of $3.22 or whatever it was is a smokescreen once again IMO. That 3rd release of news with that figure was to attempt to stave off speculators such as us from cashing everything in. Before anyone slams me with "Iraq doesnt have the reserves to handle a reval like that", several things make those figures possible to me. I believe that much of the trillions of Dinar printed lay with other countries, the U.S. for one and maybe holding the bulk of "other countries holding Dinar". I read somewhere sometime that these other countries are bound to an agreement to hold the Dinar for a minimum of 5 years. I also believe that oil will play a part in the reserves needed to back a reval. I know that Iraq is banking on future foreign investment to add bigtime to their economy, thus the new foreign investment law being pushed hard. Finally, Iraq is in a very unique postiion being the model of a country going to a democracy from just the opposite. All the world watches what is happening in Iraq. The fact that the Iraqi situation is so un-normal makes things possible that wouldnt be considered "normal", if that makes any sense.

Very well put, thanks for that.

Let's see this again guys!!


Baker Jaber AL Zubaidi: Iraqi Dinar Value should be Raised
29/06/2006
Source: Al-Sabah

The Ministry of Finance together with the Central Bank are studying a proposal to raise the value of the Iraqi dinar in order to return it to previous levels where one Iraqi dinar was valued at 3.33 US dollars. This was pre 1980 before Iraq became involved in three destructive wars that at one time led to the currency's value dropping to a level of 3,000 Iraqi dinars to one US dollar. The proposal has the support and approval of the World Bank.

A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank .

The new Minister confirmed that 2007 would see the preparation of a qualitative budget, the first of its kind in Iraq history, and that the new program would pinpoint economic indicators.

The above is a clear case of no zero lopping. The fact they mention a rise in value can only mean they will not lop off zeros as that would not mean a rise in value.

All good......

Originally Posted by Adster

The above is a clear case of no zero lopping. The fact they mention a rise in value can only mean they will not lop off zeros as that would not mean a rise in value.

All good......

I like your signature by the way.


Tells us alot

Originally Posted by Loops

I like your signature by the way.


Tells us alot

Gee thanks. ;0)

Excellent news, reckon debt forgiveness will be finalised too whilst there. :0))))

Iraqi Leader Repotedly plans trip to seek Arab support for conciliation plan
BAGHDAD, Iraq (AP) - Iraqi Prime Minister Nouri al-Maliki is going to neighboring Saudi Arabia to seek support for his national reconciliation initiative from leaders of the influential oil-rich kingdom, a government official said Friday.

Five American soldiers, meanwhile, were under investigation for allegedly raping a young woman south of Baghdad, then killing her and three family members, a U.S. military official told The Associated Press, adding that the soldiers allegedly burned the body of the woman.

Al-Maliki, a member of Iraq's Shiite majority, plans to discuss his program for bridging the Shiite-Sunni divide in Iraq with Saudi leaders Saturday, said the Iraqi official, who insisted on anonymity because he was not authorized to speak to the media.

Saudi Arabia is predominantly Sunni Muslim, as are most Arab states, and Iraqi leaders hope outside support for the reconciliation initiative will help draw in Iraq's disgruntled Sunni minority, which is the backbone of the insurgency.

Al-Maliki's plan includes an amnesty for fighters, and the prime minister's office says it was indirectly contacted this week by 11 insurgent groups, some of which insisted that Saudi Arabia be an observer in future peace talks.

The prime minister also will visit Kuwait and the United Arab Emirates on Saturday and will be accompanied by several ministers, said Shiite lawmaker Hassan al-Suneid, a member of al-Maliki's Dawa party.

Radical Shiite cleric Muqtada al-Sadr said Friday that he rejected the initiative, which does not set a timetable for the withdrawal of U.S.-led foreign troops.



''We demand the occupation forces to leave the country or at least a timetable should be set for their withdrawal,'' al-Sadr said.

Animosities between Sunnis and Shiites have become a growing element of the country's bloodshed.

Officials said Friday that Iraqi and U.S.-led coalition forces clashed with gunmen northeast of Baghdad after armed Shiite Muslims attacked a convoy of Sunni Arab villagers in retaliation for a bicycle bomb attack.

The Sunnis were attacked Thursday as they were moving out of the religiously mixed village of Daliqiya after being threatened by Shiite residents accusing them of being behind the bicycle bombing in nearby Baqouba that killed at least 25 people Monday, police said.

Iraqi police tried to intervene, but snipers killed the head of the force and his two bodyguards, authorities said. U.S. and Iraqi troops, backed by air support, then engaged in a gunbattle that killed three fighters and wounded three, the U.S. military said, adding that four suspects were detained.

Abdullah al-Dulaimi, a Sunni villager in Daliqiya, said Shiite militiamen started targeting Sunni homes with bombs and gunfire after the bicycle blast, prompting some families to flee.

''I decided to stay,'' he said. ''I chose to defend my properties.''

Only a few police patrols remained in the village Friday, but ''the situation is still tense,'' al-Dulaimi said.

The fighting reflected a rise in sectarian violence in the Sunni-dominated Diyala province, which surrounds Baqouba, 35 miles northeast of Baghdad.

In nearby Muqdadiyah, a rocket-propelled grenade hit a Shiite mosque Friday, and 30 minutes later, gunmen in black uniforms often worn by Shiite militias attacked a Sunni mosque, police said.

Gunmen in two cars also killed Sunni Sheik Hatam Mitaab al-Khazraji after he finished Friday prayers in Abu Saida, northwest of Baqouba, police said.

The U.S. military has staged several raids in the area since al-Qaida in Iraq's leader, Abu Musab al-Zarqawi, was killed there earlier this month. The military said Thursday it had gained an advantage in the fight against the terror network.

Osama bin Laden purportedly paid tribute to al-Zarqawi in a new audio message Friday, saying the slain Jordanian militant had been under orders to kill Iraqis who supported U.S. forces in the country. In the 19-minute message, bin Laden also demanded that President Bush hand over al-Zarqawi's body to his family and vowed more attacks against the United States.

It was the fourth audio message purportedly put out this year by bin Laden. The voice in the latest message - released on an Islamic Web forum where militants often post messages - resembled that on previous recordings attributed to bin Laden, but the authenticity of the tape could not be immediately confirmed.

In Beiji, a U.S. military official close to the rape investigation said at least one soldier had confessed and been arrested. The official, who spoke on condition of anonymity, said at least four other soldiers had their weapons taken away and were confined to base.

The U.S. command announced only that a criminal investigation was being conducted into the reported slaying of a family of four, but gave no details.

The official who discussed the case said the suspects were members of the 502nd Infantry Regiment, the same unit that had two men slain when they were kidnapped this month at a checkpoint. But the official said the March killings appeared unrelated to that incident.

A Marine was killed Friday in fighting in the volatile Anbar province west of Baghdad, while three U.S. soldiers died in separate attacks Thursday elsewhere in Iraq, the military said.

The deaths raised to at least 2,533 members of the U.S. military who have died since the Iraq war started in March 2003, according to an Associated Press count.

http://www.newspress.com/Top/Articl...761111334094018

Originally Posted by Adster

Nice one guys, this thread has to stay up there in the Rolclub top 5!!! I might do a poll to find out what our greatest thread is, lol.

Already have. Most viewed. It is in the pips section at 135,000 + The Iraqi dinar thread is at about 113,000 closing in.

NO ZERO LOP!!!
The only time a zero lop happens is when you have hyper inflation, Iraq dose not have this problem!!! When a zero lop happens It is when countrys have large bills like 100,000 bill, 500,000 bill ect.


June 27 issue - Amman is booming. Property prices in Jordan's capital city are soaring, new luxury cars fill the streets, hotels are booked solid and the stock market is surging. Welcome to Iraq's private sector.

(*further down the article)

Al-Bunnia & Sons uses warehouses in Amman to stockpile farm supplies and spare parts safe from the threat of sabotage or theft in Iraq. The group often flies in engineers and managers from Baghdad for training, most recently with representatives from New Holland, a subsidiary of the Amsterdam-registered agribusiness conglomerate CNH Global N.V. While in Jordan, Al-Bunnia lobbies international donors based there. Farming and animal husbandry employ more people than any other industry in Iraq, he argues, and should be cultivated as a way to reduce joblessness and drain sympathy for the insurgents. He also urges a dramatic appreciation of the Iraqi dinar to help farmers pay for imported goods. "The Iraqi economy is made up of two parts," Al-Bunnia says. "There's the oil economy and the people economy. The government has to start lending to farmers. Why spend $100 billion on security when you can make a huge difference investing $1 billion into the economy?"

http://www.msnbc.msn.com/id/8272029/site/newsweek

Ahhh.... theres that word again... "appreciation"


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Another Example Of Lopping Zeros- Russia

the year- 1998 http://vlad.tribnet.com/1998/iss158/text/biz1.htm

russia had denominations of 5k,10k, 50k,100k, and 500k replaced with 5, 10, 50, 100, 500 hyperinflation was running at 200-400%

Iraq roughly 20% inflation Largest note 25k -

http://www.sptimesrussia.com/secur/.../ruble-rev.html last sentence

"Revaluing Russia's currency seen as sign of economic confidence."

IRAQ A new currency was launched shortly after the fall of the former regime.

While Iraqis had no trust in the former currency, confidence is growing in the new dinar which is currently changing hands at about 1,400 for one U.S. dollar.

“The adoption of new monetary policies by the Central Bank … has led to higher confidence locally, regionally and internationally in the new currency,” said Khazraji.

Imad Ali, professor of fiscal economics at Baghdad University, said many Iraqis were even turning to have their savings in the new dinar instead of foreign currencies.

“The issuing of the new currency has been very important for the Iraqi economy … it has offered Iraqis their first chance in nearly two decades to have their savings in the dinar rather than other hard currencies,” he said.

Ali also praised Central Bank policies and its attempts to stabilize the currency


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look at the other countries that lopped zeros- those denominations were replaced with same size notes and same markings just different value

iraq has 25 and 100 dinar coins 50, 250, 500, 1000, 5000, 10000, & 25000 notes

lopping zeros would give you some denominations THAT ALREADY EXIST

Lopping off zeros could never be an option for the iraqis as they need a sustainable currency to gain relevance in the world market for goods and services.

A tell-tale sign of this certainly not happening would be the volume of notes printed thus far. THese are smart folk with a well thought-out plans. To cut zeros off after producing tons of notes not only would be insanity defined but destroy what they want to achieve, wealth for the country.

I suspect the only time this talk will be relevant is in about 5 years when they join the fray in the GCC, possibly taking lead in this avenue.

AS they begin the process of online banking and debit/credit card use, you will see the CBI start to pull back the larger notes.

I also suspect that the revaluation after this first one will see the production and supply of the smaller denoms people are curious about. This shouldn't be surprising at all.


Heres the link:
http://www.iraqiwiki.com/wiki/index....pping_argument

good stuff there Adam{ADSTER} and pipshurricane.....backed with articles.....i thank you and everyone who furnishes these articles with your posts.....its one thing to say something,but its another thing when u have articles to back it up....very well done guys....if one reads these articles thouroughly he can get a good grasp as to what is happening now....and probably will happen in the near future.....keep them coming....good job to all who posts with articles.....LET IT PEG>>>>LET IT PEG>>>>LET IT PEG.....GO DINARS...Pat

Great find ph. I have been debating for more and this really helped along with the rest this morning, with that decision.

I can not stop reading all thid history that is in just this one link. It tells it all. Thanks ph for this.

Heres the link:
http://www.iraqiwiki.com/wiki/index....pping_argument