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

Kurds shun Saddam's flag and threaten to secede from Iraq
IBON VILLELABEITIA AND MUSSAB AL-KHAIRALLA IN BAGHDAD AND SHAMAL AQRAWI IN ARBIL

THE leader of Iraq's ethnic Kurds brandished the threat of secession yesterday as a row with the Baghdad government over the flying of the Iraqi national flag exposed an increasingly bitter rift.

After the Kurdish regional government banned the use of the Iraqi flag on public buildings, the country's prime minister, Nuri al-Maliki, issued a blunt statement demanding the national tricolour be reinstated and implying that the Kurds' own banner was illegitimate.

The development came as the Baghdad government said it had arrested the country's second most senior figure in al-Qaeda, "severely wounding" the organisation.

Massoud Barzani, president of the Kurdistan region, told its parliament that Iraq's flag was a symbol of his own people's past oppression, and called on the Iraqi parliament to adopt a new flag.

"If at any moment we, the Kurdish people and parliament, consider that it is in our interests to declare independence, we will do so and we will fear no-one," he warned.

A terse statement from Mr Maliki's office, made no direct mention of the Kurds and said: "The Iraqi flag is the only flag that should be raised over any square inch of Iraq, until parliament makes a decision as laid down in the constitution."

Mr Maliki is an Arab from the Shiite Muslim majority, and

the symbolism of the dispute exposes an increasingly bitter rift between Arabs and Kurds, the second great threat to Iraq's survival as a unified state, after the growing sectarian conflict between Arab Sunnis and Shiites.

Mr Barzani, one of the guerrilla leaders who wrenched the mountainous north from Saddam Hussein after the 1991 Gulf war, often refers to Kurdistan's right to secede if the US-backed project to establish a decentralised federal democracy fails.

Largely free of Baghdad's control for 15 years and spared the violence that followed the US invasion in 2003, the Kurds have prospered. But their territorial designs on Iraq's northern oilfields around Kirkuk are a potential flashpoint for violence.

Mr Barzani's Decree No 60 stated: "All government sites that used to raise the Baathist flag must lower it and hoist the flag of Kurdistan in its place."

Recalling the suffering of Kurds in Saddam's Anfal military campaign of 1988, for which the former leader and several Baath party aides are now on trial, Mr Barzani said: "This is the flag of the Baath and Anfal, of chemical attacks and mass graves."

Meanwhile, hours after an "embarrassed" US military again postponed a ceremony to hand command of Iraqi troops to the government, the national security adviser, Mowaffak al-Rubaie, announced that al-Qaeda leader Hamid Juma Faris al-Suaidi had been seized some days ago.

Relatively anonymous, Suaidi, alias Abu Humam or Abu Rana,was captured hiding in a building with a group of followers. "Al-Qaeda in Iraq is severely wounded," Mr Rubaie said.

He said Suaidi had been involved in ordering the bombing of the Shiite shrine in Samarra in February, that unleashed the wave of tit-for-tat killings now threatening civil war. Iraqi officials blame al-Qaeda for the attack, but the group denies it.

Little is known about Suaidi. Mr Rubaie named his as the deputy of Abu Ayyub al-Masri, a shadowy figure, probably Egyptian, who took over the Sunni Islamic group when Abu Musab al-Zarqawi was killed.

Despite these reported successes, violence has continued. A Pentagon report said this week attacks had risen by 24 per cent in the past three months as violence extended north beyond Baghdad. Iraqi casualties soared by 51 per cent over the quarter.

Washington is anxious for the new Iraqi army it has been training to take over security of Iraq's provinces and pave the way for a withdrawal of its 140,000 troops. A key step is the transfer of operational control of the army to Mr Maliki.

But a handover ceremony on Saturday was postponed at the last minute, first to Sunday, then indefinitely, after a dispute emerged between the government and Washington over the wording of a document outlining their armies' new working relationship.

An Iraqi government source said: "We want thorough control and the freedom to make decisions independently."

US spokesman Lieutenant-Colonel Barry Johnson played down any arguments and said he expected a signing soon. "It is embarrassing but it was decided it was better not to sign the document," he added.


The Scotsman - International - Kurds shun Saddam's flag and threaten to secede from Iraq

Iraq's inflation rate hits 70 percent, planning minister says!!!

Iraq's inflation rate has soared to reach nearly 70 percent, the country's planning minister said Sunday. The inflation rate from July 2005 to July 2006 stood at 69.6 percent, Ali Baban said. "This indicates that inflation not just increased, but it is out of control," he said.

Noozz.com | IRAQ

Originally Posted by pipshurricane

Iraq's inflation rate hits 70 percent, planning minister says!!!

Iraq's inflation rate has soared to reach nearly 70 percent, the country's planning minister said Sunday. The inflation rate from July 2005 to July 2006 stood at 69.6 percent, Ali Baban said. "This indicates that inflation not just increased, but it is out of control," he said.

Noozz.com | IRAQ

So is this good for us?
and at what point do we cross into hyper inflation

Originally Posted by jsfletcher

So is this good for us?

Yes because they don't have choice to r/v the dinar to keep control on inflation asap

And if you r/v the dinar you can lower your price to be equal with other country example you can buy chicken for 5.00$ instead of 5000 dinar!!!You got more power to buy everything.They cant keep the dinar lower then right now for very long time !!!

Originally Posted by pipshurricane

Iraq's inflation rate hits 70 percent, planning minister says!!!

Iraq's inflation rate has soared to reach nearly 70 percent, the country's planning minister said Sunday. The inflation rate from July 2005 to July 2006 stood at 69.6 percent, Ali Baban said. "This indicates that inflation not just increased, but it is out of control," he said.

Noozz.com | IRAQ

"ph", what does the rest of the article say? I can not see it with out subscribing to the site. Thanks.

Originally Posted by neno

"ph", what does the rest of the article say? I can not see it with out subscribing to the site. Thanks.

Sorry Tommy my free trial are finish too but i will try to find this full article on another website

Iraq's inflation rate hits 70 percent, planning minister says

Associated Press WorldStream
Sep 4 2006




BAGHDAD, Iraq_Iraq's inflation rate has soared to reach nearly 70 percent, the country's planning minister said Sunday.

The inflation rate from July 2005 to July 2006 stood at 69.6 percent, Ali Baban said.

"This indicates that inflation not just increased, but it is out of control," he said.

Baban said prices had increased in all goods used to measure inflation, including food, fuel, transport, medical services and drugs, clothing, property, furniture and other essential goods.

Fuel and electricity prices saw the highest increase, standing at 374 percent higher this July from the same month last year, Baban said. The transport and communications sector saw a 218 percent rise, while goods and services prices increased by 37.3 percent.

Last year, inflation stood at 30 percent as mismanagement, lawlessness and attacks against refineries and supply lines drove up fuel and electricity prices and pushed overall prices and insurance rates higher.

Insurgents in Iraq have waged attacks against Iraq's food and fuel lines that managed to disrupt supplies, drive prices up and create a black market parallel to the subsidized prices.

Originally Posted by pipshurricane

Sorry Tommy my free trial are finish too but i will try to find this full article on another website

Thanks "ph". Will you PM me the post # when you do? I am done for the evening. Been watching CNN on the AL-Queda Leader and reading Articles most of the Day. Things are happening. I just can not tell what the Hold is. It is if everyone wants to be a Chief over their. It will take some getting use to of one leader for the whole State.

Nevermind, I see jsfletcher has posted it. Need a link if different for the Article.Thanks.

Next month are september and not november this article are come from the 31 of august in another website!!!

Source : Newspaper Conference - 03/09/2006
Shahrastani : Investment Law resolved next month

Praised Dr. Hussein Shahrastani oil minister supported the Cabinet plans for the advancement of the ministry instructed the oil sector and the need for concerted efforts by workers to overcome the crises and spirit, the mentality, responsibility and the need to find appropriate solutions and overcome the proceedings futile because the problem of oil derivatives do not solve sensed Alapziadeh Wei production and raise the efficiency of refineries and marketing. This came in a meeting between Mr. Minister Balmlakat leadership confirmation of guidance Mr. Prime Minister Nuri al-Maliki during his visit to the ministry last Tuesday. The Minister indicated that the ministry before it functions large and ambitious programs is on the verge of strategic plans and large industrial investment after the law which is the last stage, which is due to be resolved next month, stressing that the oil companies began preparedness to hold discussions and dialogues with international companies. and formed competent to do so, to use the time in an attempt to develop the oil industry in all areas. He pointed out that it was agreed that 90% of the recommendations of the Commission to discuss investment law. Instructed to lift capabilities available to the refineries in the coming days, moving quickly to add new units and to make great efforts for the rehabilitation of pipelines that transport crude oil and oil derivatives affected because the ministry is determined to raise the level of production and export of oil Toviramushanget citizen and also told increased exports, which would lessen its import operations that have been inflicted upon the budget.

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Source : Dar Al Hayat - 03/09/2006
The Iraqi banks have strong presence in the Economic Forum, which was brought by Al Iraqi Center for Development and International Dialogue », through debates, in which economists and businessmen had expressed their views regarding the obstacles that hinder the growth of the sector and the call to establish rules for the development and modernization of its working methods.

He explained Shekhli Thamer, the chairman of the Al Investment Bank Iraqi »and the President of the General Al Iraqi businessmen», how the banking sector in Iraq. "currently stands at a crossroads, where modernity and tradition is beset at the same time, All tendency to either of them depends on the views and the reasons are different, but conflicting and sometimes contradictory ».

He explained that the 25 commercial banks, including the state-owned, operating in the Iraqi market and manage a large amount of funds deposited by, do not find reasonable opportunities for investment can be achieved desired growth. He added : learned that one of the most negative aspects of this sector experienced drifting figures to add to inflationary factors without attention to the value of the dinar, which affected to a large degree », He referred in this connection to the disaster that every million dinars of the capital of private banks which were established in 1992-1993 was equivalent to about 100 thousand dollars to the currently stands at no more than $ 700. In spite of this, the dinar adapt to the new situation and continued to move in circulation as acceptable ».

He pointed out that Shekhli swings in the exchange rate did not have much effect in the banking, which continued working short-term credit, in anticipation of any fluctuations as happened in 1996 and the erosion rate of the dinar in the form of sharply. However, it did not cause great loss commensurate with the rates of oscillation, which broke the market, at least in the light of the imminent potential in a timely manner.

The Shekhli confidence in the Gaza Iraqi banks despite the great difficulties faced by Al where none were calculated or declare bankruptcy or halted, as has happened in the Russian Federation, which did not differ by the circumstances in which private banks in the country, where there appeared about 2500 Bank have all made profits from the remittances through the purchase of government treasury with higher returns. Nonetheless, there has been a collapse and the Central Bank of Russia announces bankruptcy banks lists of more than 100 in each bank ». He said that Iraqi banks followed the same road to acquisition of the Iraqi government bonds with high interest, which amounted to only 20% to extinguish these bonds did not have much effect in banks because of the high demand for credit, which was granted for benefits up to 27%. where economic activity was continuing and covers industrial and agricultural production to the local market needs at reasonable prices.

He pointed out the importance of an Iraqi banks establishing relations with their Arab and foreign exchange transactions for the different. The import of goods and services is in dire need of authentication by paying value and cost through these banks to ensure the rights of everyone. He warned Shekhli excessive cash deal, as it is this type of transaction burden and the seriousness of the banks. he hoped to be completed preparations that banks currently working on completion of the use of modern communication system, including Al Swift », as well as software, which provides information transfer, which has become more than necessary, where is expected to contribute payments system which is the Central Bank of Iraq in establishing the infrastructure for the safe transfer of funds carefully and safely.

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