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

Originally Posted by flockstar

which band?

smarty pants.

Originally Posted by cigarman

They pushed it back one month, my question is do we need it before reval? I understand that it needs to be done but I thought it would reval before it's implemented. Any thoughts Mike or Adster?

investment law pushed

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haven't seen this posted yet


EMERGENCY LAW EXTENSION A MONTH

Baghdad, July.26 p3
Council of Representatives agreed in its session yesterday headed by Sheikh Khalid al-Attiya to extension emergency law a month from 2nd August in spite of accordance members objection, on the other hand, the first reading of investment law and guests depositors fixing had read while postponing high elections commission after Kurdistan front demanded.

http://www.alsabaah.com/paper.php?source=akbar&page=37

This was my question also Cigarman...why I had asked for a list 'in order' in which things need to be finished for the reval to actually take place...

Also...extension...a month from 2nd August...looks like September 2nd if I'm reading it right...but it appears that the members "objected" it...

I don't know...some of these translated articles just seem to spin in circles if you know what I mean....yah...Mike or Adam, if there is any way to clear it up, that would be fantastic!

Originally Posted by bultn

What does it say? I don't understand a single sentence in this "translation".

Basically it says that Iraq is having some pretty severe inflation that is making life for the average Iraqi citizen very rough economically and they will attempt to keep inflation under control by raising interest rates.

This is another reason they need to revalue soon because not much else will help the common man of woman in Iraq.

Looking for investment opportunity? Try the Iraqi dinar



Despite Trading with the Enemy Act prohibiting trade in enemy currency, finance minister approves trade in Iraqi dinar for another year. Buying Iraqi dinar at unprecedented lows could prove enormously profitable if and when war-torn nation returns to economic prosperity
Shlomi Shefer



Despite the Trading with the Enemy Act, which forbids trade in enemy currency, Finance Minister Abraham Hirchson renewed authorization to traffic in the Iraqi dinar for another year this week.


The CashFlow Club Israel, which unites entrepreneurs and investors in various financial sectors, said the extension constitutes an investment opportunity with potential for significant profits.


The guiding principle in the move can be traced back to World War II, when the German mark collapsed. The few people who purchased German currency at its low point and held onto it for a few years were rewarded with astronomical profits when the mark regained strength a few years later.


The same went for the Kuwaiti dinar, which slumped during the Iraqi invasion of the country and soared when the economy restabilized.



The forecast that Iraq will someday return to economic prosperity is based on the nation’s tremendous oil reserves.



Bibi okayed trade


After the outbreak of the war in Iraq, the Iraqi dinar plummeted to all time lows. For the sake of comparison, before the war one Iraqi dinar was equal to USD 3. Nowadays, one American dollar is equal to about 1,000 Iraqi dinars. In other words, the value of the dinar plunged over 99 percent. According to historical trends, the purchase of 100,000 dinars for USD 100 could bear significant yields – if and when Iraq stabilizes.


The current situation in Iraq precludes electronic foreign currency trade in dinars, and therefore dinar bank notes must be directly purchased and kept. Since the days of the British Mandate, Israeli law prohibits trading with the enemy and bans, among other things, trade in the currency of enemy countries like Iran and Syria.


Until three years ago, Iraq was also on that list. However, since Saddam Hussein’s regime was deposed and the United States gained control in Iraq, then-Foreign Minister Benjamin Netanyahu decided to okay trade in the Iraqi dinar.


The go-ahead is only temporary and must be considered for re-approval every 21st of July. This week, despite the war in the north, Hirchson decided to extend the authorization for another year. As a result, the CashFlow Club Israel brought hundreds of millions of dinars, in cash, into Israel from Jordan.

http://www.ynetnews.com/articles/0,7...282124,00.html

That looks good in SOME aspects PH, like where it says significant gain and such...but what about the 1 YEAR extension on allowing dinars out of the country? I'm hoping that doesn't mean the reval isn't expected for that long...I don't know WHAT to think anymore... lol...but I don't see HOW the IRAQI CITIZENS can survive with things/prices as they are right now WITHOUT a reval soon....ARGH.

No Tiff don't worry august will be the time for the biggest party
ever for all of us.Another year for a r/v its not in option right here
believe me :)))

Thanks PH...What are your thoughts on my post and question on the page before this one?...I need to get all of this straight..what has to come first, next, etc...then the reval...which I am HOPING and PRAYING that it will happen in the next couple weeks!

Originally Posted by tiffany

This was my question also Cigarman...why I had asked for a list 'in order' in which things need to be finished for the reval to actually take place...

Also...extension...a month from 2nd August...looks like September 2nd if I'm reading it right...but it appears that the members "objected" it...

I don't know...some of these translated articles just seem to spin in circles if you know what I mean....yah...Mike or Adam, if there is any way to clear it up, that would be fantastic!

With the return of Maliki in Iraq you will see all this done in no time.
Maliki will be on a fastrack process to aproved the foreign inv. law
to make the r/v etc.......So the puzzle will be complete very soon!!!

BTW I TRY TO GOT THE FULL ARTICLE OF THIS.JUST IN!!!

Iraq and UN launch Compact to boost foreign aid
(Reuters) Jul 27 2006 13:53

Originally Posted by pipshurricane

With the return of Maliki in Iraq you will see all this done in no time.
Maliki will be on a fastrack process to aproved the foreign inv. law
to make the r/v etc.......So the puzzle will be complete very soon!!!

Maliki seems to be a spunky little guy...serious, but quick to give a big smile...kind of like GW...they appear to get along quite well.

What I was thinking to myself is....Maliki came here to the U.S. He has had a good look at the buildings, stores, and houses here. If he thinks for a minute that we are able to have these things because of the way our government works and the way we do things, work etc...WHY WOULDN'T he have a fire under his tail to get things moving back home in Iraq? So that HIS people could have nicer things too...

Maybe I'm completely off track about my thinking...but if I knew that I could have a better life if I changed a couple things around...I'd sure as heck do it!

BTW I TRY TO GOT THE FULL ARTICLE OF THIS.JUST IN!!!

Iraq and UN launch Compact to boost foreign aid
(Reuters) Jul 27 2006 13:53

Go to it Sherlock! lol! :-)