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

Not sure if I posted this, forgive me if I have, it is a week old but still major news.


http://today.reuters.com/investing/f...RAQ-URGENT.XML



WASHINGTON, Nov 30 (Reuters) - Talks between Iraq and the International Monetary Fund over a new financing agreement are completed and awaiting approval of Iraq's 2006 budget, a top U.S. Treasury official said on Wednesday.

The new loan accord, necessary to trigger the full amount of debt relief agreed by the Paris Club of creditors last year, is likely to be approved before the IMF's holiday break in December, U.S. Deputy Treasury Secretary, Robert Kimmitt, told reporters.

"The (IMF) stand-by agreement is crucial simply because it is a mark of progress for the Iraqis ... it is an important element in their economic transition going forward," Kimmitt added.


Wonderful news, with the elections on December 15th, a SBA in place, things are looking wonderful for an early r/v in January 06.

Not that I take too much from rumours but there are several posts on the iraqi investors forum of a r/v in Jan 06. These are from non dealers who gain nothing by passing on the info they've been told/heard. Feel free to go over and read yourself. The posts are from knowledgeable and popular members. Read into it what you like, and don't shoot the messenger, ie me! My opinion is based on knowledge and reading, not on rumours and I've thought a Jan 06 r/v has been on the cards for the last month or so. Hope am right!

PM me for more details if interested.

looks like the price went up at ompus.

Get the impression most are upping their prices as demand grows. Not a bad thing really. The thinking is that a r/v of .50 to 1.00 will get rid of the majority of speculators and dinar holders, the rate will then drop before slowly climbing back up over a long period.....

If they r/v too low and the world see it, the majority will invest HEAVILY and hold on till the dinar goes up and up. The first way will offload 95% of us that are holding onto them.

I wonder ,with such interest for ID , smaguling them across the Iraqi borders (just have read few articles on google) and everyone expecting to become millioners one day , if they will just change the currency and make present invalid before it goes up. I've seen it happend in ex-Yugoslavia with Croatia changing to new dominiations.Don't get me wrong I can spare few hundred $$ to become wealthy one day. Don't know if this was answered before , sorry if it was.
Good luck to all

Originally Posted by Adster

Get the impression most are upping their prices as demand grows. Not a bad thing really. The thinking is that a r/v of .50 to 1.00 will get rid of the majority of speculators and dinar holders, the rate will then drop before slowly climbing back up over a long period.....

If they r/v too low and the world see it, the majority will invest HEAVILY and hold on till the dinar goes up and up. The first way will offload 95% of us that are holding onto them.

Interesting,

Prices have been moving up for over a month, and last week I scanned all the dealers and they were selling way higher than we were, in fact, $1295. per million at one well known site. Most were in the $1000. to $1100., and we were too cheap, so I am glad the market demand is creating a supply and demand issue. Hey, for those of us who already purchased, we just made money and that is just the tip of the iceberg. (g)

Good luck to all, Mike

Originally Posted by honda

I wonder ,with such interest for ID , smaguling them across the Iraqi borders (just have read few articles on google) and everyone expecting to become millioners one day , if they will just change the currency and make present invalid before it goes up. I've seen it happend in ex-Yugoslavia with Croatia changing to new dominiations.Don't get me wrong I can spare few hundred $$ to become wealthy one day. Don't know if this was answered before , sorry if it was.
Good luck to all

Greetings,

Yes, this has been discussed many times and there is little to know chance currency will change again, especially since it is now generic, no more Saddam mug on every note, plus these are the highest level of security which cost billions to print, and since they are not even set at peg, there would be know reason to change currency again as new government was just put in place and elections are next week. With high demand, the secondary market is already so strong it is creating shortages of notes, especially the smaller denominations. And even if a few years from now they changed, there would be months allowed to cash out and exchange, so no worry at all.

Good luck to all, Mike

so no worry at all.

I like your way of thinking

Initially my main worry was a possible new set of notes being brought in but after hearing from Mike and others on the programme on the other night in the US on Fox showing a government official holding up 10k notes, (ones we have put away) standing in a vault talking about the currency of Iraq is good enough for me to show it is here to stay.

As Mike has said, the cost would run into billions to reissue new notes. There is also the fact that Iraq would lose 'face' and show they have little confidence by doing this and that's something when they're trying to rebuild their country they wouldn't do.

http://news.yahoo.com/s/afp/20051207...oteadvertising

Election fever!!

Saddam Hussein: GO TO HELL!!! at the presiding Judge.... this early afternoon and the result is, sad Saddam is now out of the court hearing and the trial show continues...this is progress according to strength of the situation as Prof. Scharf from Ireland agrees too. The Professor is the key advisor to all the judges in the court to guide them on International Law and helping the trial progress as it should be done for all fairness.

YB.