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

Originally Posted by karinc

That is GREAT news!!! Have you read that from some official source, or "just" heard it?

Karin

Last sentence Karin....and the CBI hold the key!



Some Ideas Are Discussed Over the Value of the Dinar
23 July 2006 (Baghdad: Al-Iraqiyah TV)
Some Ideas Are Discussed Over the Value of the Dinar Iraq TV St. St. , Al Sabah 23.7 Today Iraq is facing the most difficult problems its economy has ever had to confront. Apart from the violence and terror, which seem endless, and the deterioration of the electric sector and fuel products market (the two main pillars of Iraq¹s economy) extra hardships are being added to an already embattled economy. The price of all items is increasing beyond any acceptable logic with the excuse always being that it is the price of electricity and transportation that are driving inflation. Within this atmosphere of uncertainty and doubt, Minister of Finance Bayan Jaber al Zubaidi made a suggestion which had an enormous impact on those following economic trends in Iraq. He suggested that the best way to fight inflation, which is spiraling out of control, is to abolish several zeros from the Iraqi dinar to align it closely with the value of the US dollar. For example, if the dollar is equal to 1500 Iraqi dinar, one dollar would equal one Iraqi dinar, which would mean deleting the last three zeros from the dinar. Economists, however, believe such an idea is impractical because with an economy such as Iraq¹s with its large foreign debt (estimated in tens of billions -- the bulk of which has already been written off), a 40% rate of unemployment, a poor infrastructure, and an urgent need for tens of billions of dollars to rebuild its oil sector (the prime underpinning of the country¹s economy and major hard currency earner) chances for success are very slim. The premise for the idea was based on the fact that some countries experiencing a similar state of affairs implemented such a course of action and were successful in controlling their levels of inflation. Turkey, which managed to control its inflation by abolishing six zeros from its circulating currency, was cited as an example. Most economists (in particular, the governor of the Central Bank, who is a world expert on such matters), however, felt that the suggestion made by the minister did not go far enough, so the proposal has, at least for the moment, been set aside.

Originally Posted by Adster

Last sentence Karin....and the CBI hold the key!



Some Ideas Are Discussed Over the Value of the Dinar
23 July 2006 (Baghdad: Al-Iraqiyah TV)
Some Ideas Are Discussed Over the Value of the Dinar Iraq TV St. St. , Al Sabah 23.7 Today Iraq is facing the most difficult problems its economy has ever had to confront. Apart from the violence and terror, which seem endless, and the deterioration of the electric sector and fuel products market (the two main pillars of Iraq¹s economy) extra hardships are being added to an already embattled economy. The price of all items is increasing beyond any acceptable logic with the excuse always being that it is the price of electricity and transportation that are driving inflation. Within this atmosphere of uncertainty and doubt, Minister of Finance Bayan Jaber al Zubaidi made a suggestion which had an enormous impact on those following economic trends in Iraq. He suggested that the best way to fight inflation, which is spiraling out of control, is to abolish several zeros from the Iraqi dinar to align it closely with the value of the US dollar. For example, if the dollar is equal to 1500 Iraqi dinar, one dollar would equal one Iraqi dinar, which would mean deleting the last three zeros from the dinar. Economists, however, believe such an idea is impractical because with an economy such as Iraq¹s with its large foreign debt (estimated in tens of billions -- the bulk of which has already been written off), a 40% rate of unemployment, a poor infrastructure, and an urgent need for tens of billions of dollars to rebuild its oil sector (the prime underpinning of the country¹s economy and major hard currency earner) chances for success are very slim. The premise for the idea was based on the fact that some countries experiencing a similar state of affairs implemented such a course of action and were successful in controlling their levels of inflation. Turkey, which managed to control its inflation by abolishing six zeros from its circulating currency, was cited as an example. Most economists (in particular, the governor of the Central Bank, who is a world expert on such matters), however, felt that the suggestion made by the minister did not go far enough, so the proposal has, at least for the moment, been set aside.

Most economists (in particular, the governor of the Central Bank, who is a world expert on such matters), however, felt that the suggestion made by the minister did not go far enough, so the proposal has, at least for the moment, been set aside.

Noone gains by them doing this. Doesn't curb inflation, doesn't raise value, doesn't give them buying power, doesn't give their peole anything, doesn't change the value of the dinar, in fact, excuse my French but it does fu*k all for them!!!!

...thought it was 'fack'......lol!

Originally Posted by tiffany

...thought it was 'fack'......lol!

Only on site's that ban *** symbols, lol.

Economic progress

The state had controlled the economy in Iraq. Today this economy is rapidly being transformed into a free market economy. In the past three years, the citizen's per capita share of the Gross National Product has doubled. It is expected that our economy will continue to grow.

Standards of living have risen for most Iraqis as the markets began to demonstrate signs of social prosperity. Many individuals are buying products and materials that were almost impossible for any ordinary citizen to afford in the past. In keeping with our economic visions of creating a free market economy, we will be presenting to our parliament a legislation that would end current restrictions on foreign companies and investors who wish to come to Iraq. [Applause]

From this article:

http://www.iraqupdates.com/p_articles.php/article/9599

Adam, so Basically----Where do we as investors in Iraqi dinar stand? will we be able to make our Profit next year, or this year. Is there a true indication of approximatly what year this "Revaluation" will take place? I know you don't have a crystal Ball, But I value YOUR Opinion on this matter. I am trying to keep my opinions off of here as I don't have a great understanding about these type of money matters. I only Know I am sitting here looking at what i hope is a great investment, and hopeing I don't look like to much of a numbskull.LOL BOB

Minister of Finance Bayan Jaber al Zubaidi made a suggestion which had an enormous impact on those following economic trends in Iraq. He suggested that the best way to fight inflation, which is spiraling out of control, is to abolish several zeros from the Iraqi dinar


If the lopping is such a bad idea, which I believe it is, how in the world could the MINISTER OF FINANCE, ZUBAIDI, not see it? Do you think he is being sincere or playing games?

Could ZUBAIDI and SHABIBI be playing "bad cop, good cop" to orchestrate something?

Is Zubaidi's heart in the right place, a place of good for the Iraqi people? Or does he just not get it?

I feel pretty silly trying to second guess anyone who is in such a place of authority. Lord knows I have no experience or training in this area (except of course for the training I have received here from all you dinar genuises).

For all of us praying folk, let's come into agreement and pray that 1) GOOD will prevail, 2) the plans of the enemey will be revealed and destroyed, 3) that those in authority will see the LIGHT and make the right decision for all concerned. I will be basing my prayer in part on: "God is perfecting that which concerns me", and the "power of agreement" and that "His will be done on earth as it is in heaven".

Monica

TIFF. Put this together with adsters variation and you will come up with the correct word, just don't know if it a verb, or not It is quite a "moving" word. F*CK

Monica, I second that Prayer. BOB