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

Originally Posted by JetJockey

Hi Neno,

Thanks for your update. For clarification and benefit of all, here is some info pertaining to buying and selling of Dinar with Chase.

I also made a transaction with Chase Bank in the Denver Metro area on Tuesday, Sept 5. I received the same rate that Neno quoted (.00076310) for buying my additional Dinar. However, the bank that I dealt with stated that the buy-back rate would be .00062396, meaning that if you turned around and sold it back immediately you would get $623.96 (a difference of $139.14).

Even though you would get less if you have to liquidate your Dinar prematurely, I think this recent development significantly lowers our risk potential, at least in the present and immediate future!

To quote OSW ... Good Luck to All!!
JetJockey

Thanks JetJockey,

I will double check at the Branch I am reciving from tomorrow and see if this conveys. Sofar I dont think most of them know what they are saying yet.

Originally Posted by worf

I ordered some more dinar from chase on Friday Sept 1. I asked for mixed bills. I received all 25s and nothing else. Also these didn't have that distinct musty smell. As a matter of fact, they had no smell at all! Anyone who ordered and received from chase notice the same? (no smell) I wonder what the difference is. Anyone care to comment?

worf

ps

I have a friend that tried to order from a different chase branch and he was told they didn't do dinars. When he told them about my situation he told them that I would probably have my order cancelled and the money returned to my account. Obviously he was wrong! So don't necessarily believe it if they tell you they can't get them. Just keep trying until you get to the right person.

Update:

I just finished talking with my friend. He called his chase branch and told them that I ordered from another chase bank Friday and picked them up today. He left a message for the original person he tried to deal with. They called him back later and apologized for giving him the wrong information and invited him to come back and place an order!!! He is going back tommorrow. (hope it's not too late :) )

Peak Oil Is why we are in Iraq

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We went to Iraq to acomplish 2 things 1. To secure future oil supplies with a friendly mideast goverment because of peak Oil . 2. To defend the us dollar as the worlds reserve currency.

Peak Oil will happen and prices will go higher.
Peak Oil: Life After the Oil Crash

I personally like to read the forum and I dont post very often, but there alot of people who say oil will not be used in order to caculate the Exchange Rate and quite frankly they are wrong.

Icarus posted this awhile back http://dsbb.imf.org/vgn/images/pdfs/opguide.pdf
Low and behold we have a 77 page manual called International Reserves Foriegn Currency and Liquidity on page 62 apendix v we have the start of a template that Countries can submit exchange rate fundamentals on if you look at pg 65 under futures you notice a place where oil can be sold as a future.

looky
I want to prove what I say.
http://www.imf.org/external/np/sta/i...eng/curmar.htm
This is the same format as the template. It has it all Sdrs, Futures, gold, Derivitives Etc. Morocco does not list oil as part of its exchange rate in the futures section. However, Morocco has a Exchange rate of http://finance.yahoo.com/currency/co...submit=Convert around 11 cents per us dollar, and thier Holding of currency within fund as of July 31, 2006 is http://www.imf.org/external/np/tre/t...ition_flag=YES

looky
Tunisia has a template too, and it has includes the balance of payments, gold , securites, and it is the same as Moroco because it does not list Oil as a
Future.http://www.imf.org/external/np/sta/i...eng/curtun.htm
and there exchange rate is http://finance.yahoo.com/currency/co...submit=Convert 75 cents to US dollar. and there holding of the within the the fund as of July 31. 2006 is http://www.imf.org/external/np/tre/t...ition_flag=YES
looky
What do get when you go to a major Oil Producing country and look at thier stats. http://dsbb.imf.org/Applications/web...t/?strcode=KWT You will see no template at all huh, makes you go hmmm.
Kuwait enjoys a high exchange rate with the US. http://finance.yahoo.com/currency/co...submit=Convert
It does not make sense that a country such as kuwait should have such a high exchange rate unless it is do to with oil.

Morocco has 517,756 362 in Imf fund holdings with 11 cent exchage rate.
Tunisia has 266,274, 397 in Imf fun holdings with 75 cent exchange rate
Iraq has http://www.imf.org/external/np/tre/t...ition_flag=YES
1,314,472,991 in Imf holdings. with a .00068 exchange rate. A tad bit undervalued exchange rate for a country that might have more reserves than Saudi Arabi and and between $1.00 and $1.50 extraction cost per barrell of oil.( Sporters Article)

Iraq even though it has some problems it is meeting all the structural bench mark set up by the Imf . The Rtgs system bench mark is today and other bench marks to follow that will allow them to adjust the exchange. I personally think the adjustment will be some where over a Dollar when it becomes final. I dont post much,but I do read alot and would like to think the forum for letting me share my view.
Futures Contract with oil

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Iraq's state oil marketing firm Somo issued a tender on Sunday to sell six million barrels of crude oil from its Kirkuk field and said the crude was already in storage tanks in Turkey.
http://www.iraqdirectory.com/DisplayNews.aspx?id=2008


Tender
tender Definition

Here is proof that they are doing futures contracts on oil now. This fits into the theme of a high revalue.

Icarus posted this awhile back http://dsbb.imf.org/vgn/images/pdfs/opguide.pdf
Low and behold we have a 77 page manual called International Reserves Foriegn Currency and Liquidity on page 62 apendix v we have the start of a template that Countries can submit exchange rate fundamentals on if you look at pg 65 under futures you notice a place where oil can be sold as a future.

The template has a spot for futures and since this is state owned I am thinking this is good

Originally Posted by worf

Update:

I just finished talking with my friend. He called his chase branch and told them that I ordered from another chase bank Friday and picked them up today. He left a message for the original person he tried to deal with. They called him back later and apologized for giving him the wrong information and invited him to come back and place an order!!! He is going back tommorrow. (hope it's not too late :) )

Exactly. This will become more and more farmiliar with their Tellers and Associates as the News spreads thru out their system.

What a great read. This guy does not sound like someone who just bought dinar and stuffed in his mattress. This guy sounds like he knows his stuff.

John

Originally Posted by jsfletcher

What a great read. This guy does not sound like someone who just bought dinar and stuffed in his mattress. This guy sounds like he knows his stuff.

John

Hi jsfletcher,

Are you talking about page 65?

Iraq president predicts less violence by late '07

9/6/2006


Wednesday, September 06, 2006
Elena Becatoros
Associated Press
Baghdad, Iraq- Iraq's parliament reopened Tuesday after a summer recess and voted to extend a state of emergency for a month because of unrelenting sectarian violence, while the nation's president predicted bloodshed will be quelled by the end of next year.

The U.S. military announced the deaths of three American servicemen, bringing to 10 the number of coalition soldiers killed in the previous two days - eight Americans and two Britons.

Iraq's state of emergency, which has been in place for almost two years, covers every area except the autonomous Kurdish region in the north. It grants security forces the power to impose curfews and make arrests without warrants.

It has been renewed every month since first being authorized in November 2004, hours before U.S. and Iraqi troops launched a big offensive to drive insurgents out of Fallujah, one of the main cities in the restive Anbar region west of Baghdad.

Two U.S. Marines and one sailor were killed in Anbar "due to enemy action" Monday, the U.S. military command reported. Five other Americans had previously been reported killed Sunday and Monday, and two British soldiers died from a roadside bombing in the south Monday.

Police said 15 Iraqis died in violence across the country Tuesday.

Hundreds of Iraqis have been killed by suicide bombings, shootings and mortar and rocket attacks over the past two weeks. But President Jalal Talabani expressed optimism that fighting would stop before 2007 ends, and he said Iraqi forces will be able to handle any remaining violence.

"I don't think fighting will continue until then if the steps of national reconciliation go according to plan," he said after talking with visiting British Foreign Secretary Margaret Beckett.

Prime Minister Nouri al-Maliki's reconciliation plan seeks to bridge religious, ethnic and political divisions that have been tearing at Iraq with daily violence.

Asked by reporters when Britain's 7,000 soldiers might be able to leave Iraq, Talabani said "by the end of 2007."

"We've achieved good success in building our forces and equipping them with the necessary arms," he said, adding that "once violence declines, we will not need the presence of multinational forces in Iraq."


Iraq president predicts less violence by late '07 - Source

Iraqi Dinar News Article List

Iraqi Dinar News - Iraq president predicts less violence by late '07 , SafeDinar.com

Iraq deregulates fuel imports and distribution

9/6/2006

Wed Sep 6, 8:22 AM ET

Iraq's parliament has passed a law opening the way for private companies to import and distribute petroleum products, in a move that could end the country's severe fuel shortage.

The new law liberalises import, distribution and retail activities in the oil sector, which was hitherto entirely government-run.

Despite Iraq's massive oil reserves, among the largest in the world, the country suffers from a severe shortage of refined products, including gasoline, and motorists often wait for hours at petrol stations.

According to Oil Minister Hussein Shahristani, Iraq produces 10 million liters (2.6 million gallons) of petrol and imports another seven million liters (1.8 million gallons) per day, while daily demand is 22 million liters (5.8 million gallons).

The hope is that by involving private sector in importing, supplies will increase.


Iraq deregulates fuel imports and distribution - Source

Iraqi Dinar News Article List

Iraqi Dinar News - Iraq deregulates fuel imports and distribution , SafeDinar.com

Some members of this cabinet are not serious at all!!!

(Voice of Iraq) - 07-09-2006 | This issue was sent to a friend

In the absence of more than 90 members. The House of Representatives ratified the Law of oil derivatives


Baghdad / Hisham became
The House of Representatives approved yesterday, Wednesday, on the sale and import of oil derivatives, and that the consent (130), a member of the (182) members attended the meeting, With the absence of about 90 members of the council without any reasons.
He said Parliament Speaker Mahmoud Almshahadani if this law did not contribute in the provision of oil derivatives of all kinds of citizens with a view to resolving the current crisis of fuel means that to remain ink on paper and will be on the House of Representatives at the time that a nullity.
It is noteworthy that the sale and import of oil derivatives allow companies to the private sector and foreign import and sale of oil derivatives from petrol cars and Alcazulin and kerosene to the specific requirements established by the Ministry of Oil.
The Act also provides that the companies are exempt from tax, the reconstruction of Iraq and customs duties for a period of two years from the legislation law and the Council of Ministers the right to be revisited according to the circumstances in Iraq.
And Yesterday, the House of Representatives yesterday phenomenon exit MPs throughout the session, The President of the Council, Dr. Mahmoud Almshahadani members not to leave the meeting during the session because it violates the rules of procedure, especially during the voting.
For its part, the Ministry of Finance said that Iraq intends to invest four billion dollars in the building of the ranks of the oil refining and improving the infrastructure obsolete.
The ministry yesterday that the amount spent in the framework of the planned budget for 2007, which amounts to spending around 33 billion dollars.

Announcement No.(762)

D.G. of Foreign Exchange Control

Exchange Rates

The 762 daily currency auction was held in the Central Bank of Iraq day Wednesday 2006 / 9/ 6 so the results were as follows :

Details Notes
Number of banks 17 -----
Auction price selling dinar / US $ 1476 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 53.615.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 53.615.000 -----
Total offers for selling (US $) ----- -----

Cash amounts sold to the bank and its customers were USD(32.675.000) at a rate of(1476+1+10=1487)IQD\USD .
The amount sold to make transfers abroad was USD (20.940.000) at a rate of (1476-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.