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

Thanks cigarman
I just wonder , they are trying to keep the dinars out of the hands of the terrorists but couldnt they just buy it the smae way we are doing?
any way just saw some pictures of the children with no water in Africa-no oil there and they are wahing themsleves off with urine. if i knew how to attach a picture i'd add some pictures- cant wait to have some money to do good works with! This world makes me SAD and ANGRY int he same breathe.

So where are you located? And can you share what your plans may be - all at once little by little-some now some later on (years)? Please share, I know you have a well respected view!

OK guess I should head to the other section. Sorry Raddie. You know how it is the tension builds up on all fronts and you just have to let it out. Thank you all for your kind thoughts and prayers and for letting me rant.

Message: DENVER, July 31 /PRNewswire/ -- CICSCO Inc., a 13-year old Denver
engineering and construction firm is the odds-on-favorite to win a $750
million contract to build a new 70,000 barrel-per-day oil refinery in the
Kurdish region of Iraq, according to James Prall, company president.

Designated the Koia Refinery in Koysonjac, Iraq, it will be located
about 60 miles from Kirkuk, the center of the northern oil fields of the
country.
Iraq depends on crude oil revenues to support its economy, but is
spending over $200 million a month to import refined oil products to fuel
its own domestic and industrial needs. Iraq has total refining capacity of
700,000 barrels-per-day but about half of it is not producing. The new
refinery will add about 20 percent to the existing 350,000 barrels-per-day
production, and is scheduled to be completed in September 2009, 36 months after the contract is awarded. Approval from Iraq is expected within days.

It is 6:28 in Bagdad, does anyone know what time they start important business meetings over there.

Marlene

On they other hands,you can sleep well guys tonight because
we will not seen the R/V tomorow.They have to fix the security
in baghdad before anything else.So relax and good night everyone
i'm not negative don't worry but its not the time :)

WASHINGTON -- A number of nations have expressed a willingness to help boost international economic support for Iraq, the Bush administration said Monday.

Deputy Treasury Secretary Robert Kimmitt, President Bush's special envoy on the issue, said he was optimistic the necessary work will be completed in coming months so that an international conference to collect pledges of financial support can be held by the end of the November.

He said France and Germany, two countries that opposed the U.S.-led Iraq war, are participating in meetings chaired by the government of Iraq and the United Nations over development of an International Compact for Iraq.

Under the compact, Iraq will pledge to undertake a number of economic reforms and estimates will be developed of how much financial support Iraq will need through 2012 to rebuild its economy.

That estimate will include money that Iraq can be expected to raise, primarily through oil exports, with any deficit made up by international donors. Kimmitt said it was too soon to say how much money will be needed but that the goal was to develop a financing plan by October.

The compact was set up in June at the request of Iraq's new prime minister, Nouri al-Maliki. Both he and Bush have called for greater international efforts to rebuild Iraq's economy, seen as key to combating political instability in the country.

Countries participating in the working group include the United States, Britain, the 25-nation European Union, France, Germany, Italy, Spain, Japan, South Korea, Saudi Arabia, Kuwait and the United Arab Emirates.

Kimmitt said, "Countries understand the need to play a constructive role."

He said the compact would be discussed at the September meeting of the United Nations in New York and at annual meetings of the International Monetary Fund and World Bank, in Singapore in September.

A donor's conference for Iraq held in Madrid in 2003 raised an initial $13.5 billion but so far only $3.5 billion to $4 billion of that amount has been disbursed, Kimmitt said. He said he is seeking commitments in his discussions with other countries on when the rest of the money will be forthcoming.

Kimmitt said Iraq has been meeting the economic reform requirements of a preliminary IMF loan program in spite of continued insurgent attacks.

"This is a country that has faced a difficult security situation for some time, and they are living up to their obligations," Kimmitt told a small group of reporters.

Originally Posted by cigarman

Actually I was the one who checked the dinars with the machine. Their legit.

And those were from safedinar. right cigarman?

Originally Posted by tiffany

I got the 3000th post!

And I the 1000th.

Originally Posted by Admin

he gave me this article. i didnt get any link though.


regards
admin

Hey Marek

Here is the link and the full article...



Looking for investment opportunity? Try the Iraqi dinar

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

07.27.06


"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."

The announcement of whatever it is will be in approx. 4 hours from now.