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

Mike, what do you think of this article? I thought most of the debt was already forgiven.

Originally Posted by pipshurricane

(Voice of Iraq) - 11-08-2006

Governor of the Central Bank of Iraq that Iraq can not initiate development projects without dropping debts



Baghdad (11 August) and the (Ak) Italian News - The governor of the Iraqi Central Bank Sinan Shabibi that "more than half of the debt owed Iraq are benefits accumulated" He added "Iraq can not start new development projects and reconstruction could take place without being dropped from the debt burden." He Shabibi in a lecture delivered at the premises of the Iraqi Foreign causes the accumulation of debt, which stood at the Iraqi 146 billion dollars, almost due in particular to the "massive indebtedness of the former regime to fund the wars waged in the custody, and especially the Iran-Iraq war which lasted eight years. " The Central Bank Governor, "it is hoped cancel $ 120 billion of the total debt of Iraq by the end of 2008," Russia will remain only "20 billion dollars," he said. Referring to the role of Iraqi diplomatic relations management through bilateral and multilateral "aid in the realization of this achievement." The Governor of the Bank achieved at the level of relationship with the Paris Club and the agreements that have been with him, He pointed out that an estimated "50 billion dollars of the total debt Iraq owed for this club has been uncontrollable conflagration" and stating that "Iraq has largely succeeded in persuading creditors to extinguish Iraqi debt will benefit them in future as they will be investment opportunities in Iraq is very significant." Turning Shabibi also to the relationship of Iraq with the International Monetary Fund, which is linked to the Paris Club in terms of mechanisms of action.

Interesting,

I was just chatting with one of my contacts in Kuwait and no doubt, something is going on as the bank he deals with for dinar is no longer allowing large exchanges? This was yesterday, and when he asked when it will be allowed again, the answer was it won't. We can only draw a few conclusions on this, and that is that supplies are going to dry up in a hurry, more than we saw in last month where many dealers were out of inventory. Sure is an interesting journey we are all on. (g)

Good luck to all, Mike

Originally Posted by cigarman

Mike, what do you think of this article? I thought most of the debt was already forgiven.

Interesting,

I was just back checking to see if I had this in my archive files as it sounds so familiar. I have a feeling it is just another example of reposted data which is so common with many sites to increase traffic. I have seen this tactic used more and more all because of Google Adsense revenues. If you note, almost all news posting sites are now using Adsense or similar revenue generator, so a lot of rehashed news is being posted, especially when related to revalue issues, BAM, tons of hits.

Good luck to all, Mike

Originally Posted by Offshore-Wealth.com

Interesting,

I was just back checking to see if I had this in my archive files as it sounds so familiar. I have a feeling it is just another example of reposted data which is so common with many sites to increase traffic. I have seen this tactic used more and more all because of Google Adsense revenues. If you note, almost all news posting sites are now using Adsense or similar revenue generator, so a lot of rehashed news is being posted, especially when related to revalue issues, BAM, tons of hits.

Good luck to all, Mike

Here the link Mike where i find it!!!
Sotaliraq.com

Stupid Question? If the Dinar were to Peg , let say Monday. How soon would it take before the banks will do exchanges? will it be days , weeks , Or months, before we will be able to cash in our chosen amounts?
Sorry if this question has already been asked, and answered . BOB

Originally Posted by pipshurricane

Here the link Mike where i find it!!!
Sotaliraq.com

Thanks, just as I thought, they are pushing green card affiliate program with banners and sell advertising on site, so it makes more sense now. Paris debt was 80% forgiven, plus other private debt, so this cannot be current article in my opinion.

Good luck to all, Mike

Originally Posted by bob1940

Stupid Question? If the Dinar were to Peg , let say Monday. How soon would it take before the banks will do exchanges? will it be days , weeks , Or months, before we will be able to cash in our chosen amounts?
Sorry if this question has already been asked, and answered . BOB

Hi Bob,

It won't peg, so it won't be freely exchanged immediatley, it wil revalue, and it will be a selective process at that point, so not all local banks will exchange. I would bet on HSBC being the exception having a branch in Iraq already, so it will be interesting to see what happens. It will take most weeks is my best guess.

Good luck to all, Mike

Originally Posted by Offshore-Wealth.com

Interesting,

I was just chatting with one of my contacts in Kuwait and no doubt, something is going on as the bank he deals with for dinar is no longer allowing large exchanges? This was yesterday, and when he asked when it will be allowed again, the answer was it won't. We can only draw a few conclusions on this, and that is that supplies are going to dry up in a hurry, more than we saw in last month where many dealers were out of inventory. Sure is an interesting journey we are all on. (g)

Good luck to all, Mike

That great Mike thanks for sharing this info with us do you know
how much he was able to exchange?

Originally Posted by Offshore-Wealth.com

Hi Bob,

It won't peg, so it won't be freely exchanged immediatley, it wil revalue, and it will be a selective process at that point, so not all local banks will exchange. I would bet on HSBC being the exception having a branch in Iraq already, so it will be interesting to see what happens. It will take most weeks is my best guess.

Good luck to all, Mike

So Mike please elaborate on this.. my head is swimming.. are you saying we are waiting for the reval right now ... hopefully to happen soon.. say this month some time...but until it pegs we will not all be able to exchange for weeks unless we find specific banks that will do it for us? Or did I get that all wrong? I need more coffee...

Let me try to get this straight. For 540 plus pages, we were all getting excited about the dinar's peg beit low or high. Now in the last 4 -5 pages we are abandoning the peg theory and now embracing the floating theory? Is this what "your sources" are saying or is this just your own speculation? How can we go from it is likely to peg Aug 14 -20th to it is not going to peg but rather float, based on an old IMF story of several years old? And instead of Aug 14 - 20th now sometime in Sept or later?

This is beginning to sound like p**s promise to pay but at the last minute the banks alledgedly froze the money so they couldn't all of a sudden pay out. I know everyone is trying to do their best but this sure is fustrating! So if we are going to wait until Sept, then why did the banks close, the bank websites change their wording etc in the last few days? Getting ready for the float either in Sept, Oct, Nov, Dec or ? What happened to the logic that if they don't reval soon, they may not have a country left? So many articles, so many theories it can drive one nuts! (g)

worf