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

Hi you guys. it just seems to me that the people of this country cannot take too much more. if not to just give them some relief from all of this terrible,nightmare of a life that they have had to endure for these many years. let it peg, let it peg let it peg!!!!!
Lisa

Originally Posted by Offshore-Wealth.com

Interesting,

The Kurds are also coming under threat from Turkey, backed my Iran and Syria forces, as they see the oil rich region as their own, so this game of chess is getting interesting. I would suspect the Israel persistance bombing Lebanon is causing more issues than it is solving with Hezbollah, so I wonder if Iran should not have been bombed instead of Lebanon for that seems to be the heart of the problems in middle east all along.

Good luck to all, Mike

As you always say Mike, Interesting...

I was recently at a Persian restaurant downtown with some friends (great food, wonderful people BTW, and very popular cuisine) Anyway, I was talking to one of the bartenders who is 25 years old and was born in Iran but moved here 7 years ago with his family. He told me that a very high percentage of Iranians (I wish I could remember the number, I'll say it was @ 65%..I was drinking and having a good 'ol time, LOL) are under the age of 25 and desperately want a change in their form of government and are sick of all the religious, violent, and apparently cruel treatment of their own people, especially the women. I don't know if what he said was true but it wouldn't suprise me a bit.

good stuff guys...it would seem it needs to peg.....and peg soon....these people are suffering....but from what i have gathered so far with these people is that they r slow....s-l-o-wwwwwww.....someone needs to light a fire under their a** to get a move on and hurry up and reveal.....IMHO...GO DINARS...PAT....ohhh...and....LET IT PEG LET IT PEG LET IT PEG

Originally Posted by pipshurricane

http://www.imf.org/external/pubs/ft/...06/cr06301.pdf

A lots of good information so happy reading :)))

The reduction of shortages following from the liberalization of gasoline import is expected to contribute to lower inflation, as increasing black market gasoline prices have a major impact on the cost of living indices. The high and increasing rate of inflation, whose dynamics is still quite uncertain as the staff reports, is a key issue for the government. It aims at containing it through structural policies aimed at reducing shortages and monetary policy tightening. Indeed the Central Bank of Iraq (CBI), faced with a surging inflation rate has raised the policy rates by two percentage points to 10 percent at the beginning of July, and by another two percentage points more recently, in an effort to slow the inflationary cycle.
While the monetary transmission channel is relatively weak, the CBI agrees with staff that strong moves in interest rate will signal the clear determination of the monetary authorities to control inflation dynamics and prevent the consolidation of inflationary expectations.
Furthermore, the authorities aim to strengthen the effectiveness of monetary policy through linking deposit rates to the policy rates in the future. Finally, the CBI will consider the possibility of a gradual appreciation of the Iraqi dinar if needed, which could have a positive effect on both inflation and the process of dedollarization.

It is also possible that rising international crude oil prices and growing spending power in the economy are pushing up Iraq’s equilibrium real exchange rate.
With the nominal exchange rate fixed, the real exchange rate adjustment is reflected in a rising domestic price level.
The exchange rate remains stable and reserves continue to grow.
The exchange of the Iraqi dinar to the US dollar has remained close to 1,475 at the daily auctions, which have been conducted free of any restrictions. The (net) international reserves of the CBI, which reached $11.5 billion at end-2005, grew further to $12.7 billion by end-April, above projected levels under the SBA and comfortably above the program floor (performance criterion) of $7.5 billion. Currency in circulation grew by 27.9 percent in 2005, and by a further 6.1 percent in the first quarter of 2006.
Broad agreement was reached on budgetary prospects and priorities for 2006, as well as on the implementation of related measures. In addition, there was a consensus that action needed to be taken to tackle inflation, including through monetary tightening, and allowing the exchange rate to strengthen (as conditions permit).

Originally Posted by whatever

As you always say Mike, Interesting...

I was recently at a Persian restaurant downtown with some friends (great food, wonderful people BTW, and very popular cuisine) Anyway, I was talking to one of the bartenders who is 25 years old and was born in Iran but moved here 7 years ago with his family. He told me that a very high percentage of Iranians (I wish I could remember the number, I'll say it was @ 65%..I was drinking and having a good 'ol time, LOL) are under the age of 25 and desperately want a change in their form of government and are sick of all the religious, violent, and apparently cruel treatment of their own people, especially the women. I don't know if what he said was true but it wouldn't suprise me a bit.

Interesting,

Yes, I do find it all very interesting, human nature is redifined when talking about those in the middle east. I read a poll the other day and it shows very clearly the majority want peace, and you are right, the younger generation can see how failure of sectarian peace is the cause of all the current problems, so to them, there is only one choice, peace.

It has also become more clear that the older population carry the most hate, and given what they went through with Saddam regime, the hate runs ever deeper. With all this hate, it doesn't suprise me that the term back stabbing came from this region. Now that it is clear this unrest was all by design, hopefully these *****s blowing themselves up get the message.

Good luck to all, Mike

We've had 3 banks get robbed in the last couple of weeks and their shutting the banks. We have that many in one city a day let alone the whole country. Hear me out, let;s say they pass the law tomorrow, with the banks being closed for 3 days it would give them time to make the computer changes for a reval. I'm not saying that's what's happening, but shut down the government bank because of 3 measly robberies?

Iraq Banks Closed Following Heists

The Media Line

Mike, after reading the new IMF report do you think we're still on course for a sizeable reval? I haven't waivered with my thoughts, because that little voice is still saying that if the banks were keeping their books at .31 and the Imf report verifies that the rate of 1475 is defacto and the inflation is due to the increase yet their holding low on purpose, then we ought to at least see .68 if not the full $1.12 we've been hearing. What ya think?

Originally Posted by cigarman

Mike, after reading the new IMF report do you think we're still on course for a sizeable reval? I haven't waivered with my thoughts, because that little voice is still saying that if the banks were keeping their books at .31 and the Imf report verifies that the rate of 1475 is defacto and the inflation is due to the increase yet their holding low on purpose, then we ought to at least see .68 if not the full $1.12 we've been hearing. What ya think?

Yes Cigarman, and to that I ask (from what I have been reading) what does the 12 or so billion dollars (usd) held by the CBI have to do with the reval, if anything? There are those who seem to feel that it would take trillions in the CBI to withstand a 1.00 reval?

Networks to Improve in Iraq
Molouk Y. Ba-Isa, Arab News

Networks to Improve in Iraq - Worldnews.com


"PARIS, 8 August 2006 — Alcatel has been awarded a 30 million euro contract with Iraqi Telecommunications and Post Corporation (ITPC), the sole fixed operator in Iraq, to deliver a turnkey high-capacity nationwide microwave backbone. The World Bank will finance the contract"