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

Originally Posted by Raditz

Baghdad morning
The House of Representatives today held its first session in the Legislative Chapter II. He said the first deputy chairman of the council, Sheikh Khaled al-Attiyah told "Sabah" that the Council vote on the request of Prime Minister Nuri al-Maliki to extend the state of emergency for another month.

He added that the Council will address a number of important issues, including reconciliation and the flag of Iraq.
He explained that the Cultural Committee, will take on the responsibility of the proposal for a new flag Iraq terminate interactions caused by the decision of the President of the Kurdistan region and ordered that the flag of official buildings.
The Sheikh al-Attiyah visited President Jalal Talabani and discussed with him the issue of the flag.

Well I would say this is all that is on the table as they break for their lunch. Maybe much more after their lunch hour. Off to work for me 5 am here.

Hi guys,

Good to see lots of good things happening. Sources are saying we're closer than ever. The rate being thrown around is $1.17 to the dinar, as always take it with a pinch of salt, I do, lol.

Not got too much to add, you guys are doing such a good job hence me taking a back seat on Rolclub and finding time around the day job and trading to post.

But have a read of the below. Not sure if it's been posted thus far, apologies if it has. Understand the importance of this. The Deputy PM chairing this committee, the bringing in of 'expert economists' and trade unions. This tells me they're looking to review and change peoples salaries after a r/v for the WHOLE country. Huge news, we're ever so close.

Speak soon guys.


"Sunday, September 03, 2006 Iraqi Cabinet to revise salary scale of staff members
(MENAFN) Chaired by deputy prime minister and the ministers of finance and planning and development cooperation as members, the Iraqi Cabinet has decided to form a ministerial committee to revise salary scales of staff, Al-Sabah reported. The resolution gave the right to call expert economists, representatives of trade unions and the various layers, specific period of two weeks for the Committee to the Cabinet to give recommendation, according to a statement of the department of communications."


http://www.tbiraq.com/menafn_news_b...n_id=1093125871

Great Adam to see you again with us take care buddy :))

Agence France-Presse

Baghdad, September 5, 2006


Iraq's Parliament reopened on Tuesday after a month-long recess marked by mounting sectarian violence, beginning a session, which will discuss breaking up the country into semi-independent regions.

At the top of the agenda was the controversial question of whether to allow some of Iraq's provinces to merge into larger autonomous regions, a move which some Sunni lawmakers fear could lead to the country falling apart.

Other groups, however, strongly support an idea which would create virtually independent zones in the oil-rich Shiite south and Kurdish north, and leave the Sunnis economically isolated in the barren western desert.

Web posted at: 9/5/2006 5:2:12
Source ::: REUTERS

baghdad • Iraq may get a new flag to replace one rejected by ethnic Kurds as a symbol of oppression under Saddam Hussein, the government said yesterday, hoping to defuse a nasty row that provoked threats of Kurdish secession.

It could be brought up as early as today in parliament.

After the Kurdish regional leader banned the national flag and the prime minister hit back bluntly, government spokesman Ali Al Dabbagh said he understood the Kurds' position and that designing a new flag now had greater priority.

"Due to such issues, there will be certain priorities in order to advance approving a new flag," he said. "It was not urgent but now it is more urgent."

A Kurdish member of the Baghdad parliament said his party aimed to introduce a motion at Tuesday's first session since the summer recess calling for a new flag and a new national anthem.

Iraq's president, also a Kurd, appeared to throw his weight behind a change, describing the present one as "the Saddamist flag, stained with the blood of hundreds of thousands".

Dabbagh defended the statement on Sunday by Prime Minister Nuri Al Maliki, a Shi'ite Arab, that said only the national tricolour must be flown and implied the Kurdish regional flag, ubiquitous in the northern mountains, had no official standing.

"But," he said, "We understand the sensitivity of the Kurdistan people, that they have been killed under this flag."

Kurdish President Massoud Barzani banned flying the Iraqi flag in the region, home to 5 million of Iraq's 26 million people, because of its association with Saddam's Baathist rule and the deaths of many thousands in the Anfal attacks of 1988.

"This is the flag of the Baath and Anfal, of chemical attacks and mass graves," Barzani said, repeating in strong terms his warning that Kurds might one day choose independence.

Iraqi President Jalal Talabani defended Barzani, long his bitter rival, and appeared to back a new design by parliament:

"The Iraqi flag, which will be ratified by the Iraqi parliament according to the constitution, will be a sacred flag, venerated, accepted by everyone, raised and fluttering over the heads of Iraqis and on the peaks of the Kurdistan mountains."

Nawzat Saleh Rifaat, a member of parliament from Talabani's party, told Reuters: "We demand the flag be changed. We are seeking to change it so that all Iraqi people would be united. "This does not mean we want to secede. At the first session of parliament, we will ask for a new flag and national anthem."

The red, white and black horizontal tricolour with a line of three green stars in the middle is a Baathist design adopted after a 1963 coup and modelled after that of other Arab states.

It replaced a design that featured a sun motif representing the Kurds. After invading Kuwait in 1990, Saddam added the words Allahu Akbar in his own hand. Since he fell, new flags feature the words in a neutral printed typography.

Under the U S occupation authority, a radical 2004 design, white with blue and yellow stripes and a crescent moon, was never implemented. Some said it reminded them of Israel's flag.

Thought you all should read this.

One of the biggest misunderstandings regarding currency is how it is backed. Lets go back to basics, both in theory and history.

If a fish and coconut have the same value, they can be exchanged by the most primitive form of trade, barter. However, fish and coconuts will not last. The fish will spoil and the coconuts will rot. So in this system, the exchange has to take place at the time when the two products have useable value.

Coconuts and Fish
Money, or currency is the way to store value, and in a sense, energy. A certain amount of energy was expelled climbing the coconut tree, and a certain amount of energy was expelled catching that fish.

If the man that climbed the coconut tree could store the energy he just expelled, he could instead get a fish whenever he liked, so we introduce money here. He sells his coconut and keeps the money. He will get a certificate, coin or other symbol of the energy he has expelled climbing that tree.

A day, week, month, year could go by, but it doesn't matter. The day will come when he wants a fish and he can now expel the energy he stored, by trading in the symbol of his energy. He was holding a symbol of the energy he had attained, whether it is a piece of paper saying 1 US Dollar, or 100 Japanese Yen. In the end, it doesn't matter if the physical currency says 1 or 100, as long as the exchange value is one fish against one coconut.

Currency itself is worthless. It is just a piece of paper with a lot of water stamps, signatures, magnetic threads and even holograms. Currency only has value if the user of that currency trusts that the currency has worth.

Early currency systems were based on the idea that the issuer of the currency must hold the same amount of value as the bills that were issued. Originally, you could go into a bank and ask for a piece of gold that was equal in value to the dollar bill. This was known as the 'Gold standard'.

As the economy grew they changed that to backing the Dollar in Silver. Eventually, the handling of metals in the currency system became cumbersome. This system was eventually dropped. Today, the dollar you are holding in your hand is not worth the same amount in gold or silver, they guarantee that the dollar bill is worth one dollar.

Swapping Papers
The US government does have a backing system, but it is not necessary to back every piece of paper with something of similar value. So now we have Fort Knox and other similar facilities, full of gold. The amount of dollar out there in circulation is far more than the amount of gold held in reserve in places like Fort Knox.

However, you can not go in to a federal bank and ask for a piece of that Fort Knox gold in exchange for your dollar bills. You have to trust them that the dollar bill is worth the money it says it is.

In that very sense, Fort Knox gold is a showpiece, saying to the world, and the holder of the currency ... we have value. You have used that dollar in so many transactions in your daily life that you are now at the point that you have no doubts, you just know it. In case you have doubts about it, your grocery store and your gas station will immediately set you straight. They will insist that it is a dollar bill with a set face value.

So in conclusion, currency is stored energy. Currency is in itself worthless, but has it's value based in our trust.

As in the US, Iraqis have trust in the dinar, based not on Fort Know, or even on coconuts and fish, but on oilfields. Point to an oilfield in Iraq, and you have backing for the currency.


**END ARTICLE**

By: Roger Isaksson
Published: 09/04/2006

Baghdad-Mahdi Karim Al-Taee
Results of intensive talks between the Iraqi Trade Minister, Abdel Sudanese farmer with his American counterpart Carlos Gutierrez in the signing of bilateral cooperative agreement in the areas of trade and economic cooperation between the two sides.


Sudanese expressed satisfaction with the outcome of the talks, which will be channeled to speed up the rebuilding of the Iraqi economy as well as a desire to promote cooperation between the two countries on the basis of mutual benefit within the legal frameworks in both countries.

Minister of Trade in the United States of America, Carlos Gutiters stressed his country's keenness to provide full support for the Iraq Institute for the Advancement of fact, including economic and trade is in the process of reforming the economic system and the development of institutions in the public and private sectors.

The close cooperation focus on the development and implementation of appropriate programs to build the capacity of private and public sector in domestic and international trade.
It included close cooperation built founding forum for cooperation and exchange of information in trade issues and promote dialogue in various matters, including trade opportunities, development sectors in Iraq, Iraq investment companies, laws and regulations that facilitate trade, investment and good management of public and private sector and government transparency.

She also focused on addressing the obstacles facing trade and issues of common interest between the two countries for the reconstruction and protection of intellectual property and good regulations and transparency of public tenders.
The agreement also includes the establishment of technical cooperation in the field of information and exchange of expertise and capacity building between central trade information in the two countries.

She explained that the support of trade exchange between the private sector include the establishment of the advisory group on the bottom, private things, and to encourage and facilitate private sector participation in the permanent and temporary exhibitions and specialized encouraging and organizing and sponsoring exchanges and trade delegations and exhibitions, symposiums, as well as facilitate the conclusion of commercial contracts between the relevant parties. In the framework of output will be achieved and trade ministers of the two countries appointed Joint Presidency e of the working group, and the ratification of the consultancy work.

He pledged to the American side to provide information on upcoming trade fairs in the United States and details of training which will be during this month, the National Institute of metrology and technical standards and commercial construction and housing. It is the intention of the American and Trade Minister announcing his support for the development of commercial law in Iraq. The meeting discussed bilateral build the necessary capacities and the efforts of the American companies with regard to the special needs of public order and the infrastructure of the food.

It should be noted that such a mechanism under which the obligations of the parties under this Plan of Action to the laws and regulations in force in both countries.

Nice post Raddie! I like that explanation!

Good to see ya Adster, don't be such a stranger!

Hi

I while back someone called webster post a link regarding "currency Exchange" in the UK using Moneycorp - Foreign exchange rates, currency transfers and forex trading for commercial and private clients

Unfortunately today I phoned them and they told me that they are not dealing wit Iraqi Dinars.

I also phone my bank HSBC today and they told me that they are not selling Dinar.

I wish we had a chase bank in the uk.

NICE TO HEAR FROM YOU ADSTER!!!!!!!

LISA

Hi Chouchou,

You can buy your Dinars from NatWest Bank or Halifax in the UK. We are buying from our NatWest Bank for about 2 months now with no problems. If you have an account with them, you can order over the phone and collect it the next day. As easy as that.

Blessings,

a-team