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

Originally Posted by pipshurricane

UAE to host meeting of the International Althoudri with Iraq

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

UAE to host meeting of the International Althoudri with Iraq

: PUKmedia

The press office of Iraqi Deputy Prime Minister Dr. Barham Salih, would hold preparatory meeting of the International Iraq with the hospitality of the United Arab Emirates in Abu Dhabi on Sunday, September 10, 2006 at the Emirates Palace Hotel, The meeting will be co-chaired by the Iraqi government and the United Nations, The Iraqi delegation will be headed by Dr. Barham Ahmed Salih, accompanied by Deputy Prime Minister and Ministers of Finance Messrs. statement Jabr Al-Zubaydi Oil Minister, and Dr. Hussein Shahrastani and Planning Minister Dr. Ali Baban and trade minister Abd Farmer, the Sudanese National Security Advisor Dr. Muwaffaq Rubaie, the Iraqi Central Bank Governor, As the United Nations delegation will be headed by Mr. Mike Brown, Deputy Secretary-General of the United Nations.

Meeting will be attended by representatives from the World Bank, the European Union and the United States of America, the United Kingdom and the Kingdom of Saudi Arabia, Kuwait, Italy, Germany, France, Spain, Korea, Japan and a number of organizations and other financial institutions.

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Thanks for this release It smells RV around the corner!

This may not be significant but I was just thinking about the days when people first started talking about fiat currency and how they would often mention that the intrinsic value of a bill (any denomination) is only about 18 cents. This was the value of the paper and ink at that time. Assuming that it's gone up since then, I used a conservative 20 cents for my calculations. At 20 cents for the paper and ink, the new Iraqi bills would cost about 295.4 Dinar just for the materials. Manufacture, design, etc. would bring the production costs up above that.

This means that the intrinsic value of the 250 and 50 dinar notes is more than their fiat value, and that they cost considerably more to make than they are worth as money. The smaller denominations of note are physically smaller than the large but, as I didn't add much for inflation over the years, I think it is safe to say this.

This, to me, is more evidence that a revaluation is planned. Maybe I'm way off base, but it just looks good to me.

Iraq donors to meet Sunday in Abu Dhabi
The Associated Press

Published: September 7, 2006
DUBAI, United Arab Emirates Iraq will seek critical financial support from American, European and Arab governments in a donor conference Sunday in the Emirates capital Abu Dhabi, the United Nations said Thursday.

The U.N. and organizations including the World Bank and International Monetary Fund will attend the one-day meeting, in which Iraq is expected to outline economic reforms it will make in exchange for pledges of economic support for the embattled government.

The meetings are part of the U.S.- and U.N.-backed International Compact for Iraq, a five-year plan to bring peace and development to violence-wracked Iraq, while ensuring the government has the funds to survive and carry out urgent economic reforms.

Those expected in Abu Dhabi on Sunday include U.N. Deputy Secretary General Mark Malloch-Brown and U.S. Deputy Treasury Secretary Robert Kimmitt, President George W. Bush's special envoy on the issue, U.S. and U.N. officials said.

The Abu Dhabi meeting is in preparation for a full international conference to collect pledges of financial support for Iraq.

Participants are working to estimate the amount of financial support Iraq needs through 2012 to rebuild its economy. The estimate includes money that Iraq can be expected to raise, primarily through oil exports. Any deficit would be made up by international donors.

France and Germany, two countries that opposed the U.S.-led Iraq war, are expected to participate.

Sunday's meeting will be followed by a high-level U.N. summit in New York on Sept. 18, with Iraqi officials meeting with members of the U.N. Security Council, the G-8 group of rich nations and Secretary-General Kofi Annan, a U.N. official said on condition of anonymity because he was not authorized to discuss the issue.

The compact was set up in June at the request of Iraqi Prime Minister Nouri al-Maliki. Both he and Bush have called for more international help rebuilding Iraq's economy, seen as key to reversing the country's slide into chaos and civil war.

The participants in the Compact include the United Arab Emirates, United States, Britain, the European Union, France, Germany, Italy, Spain, Japan, South Korea, Saudi Arabia and Kuwait

A donor's conference for Iraq held in Madrid in 2003 raised pledges for $13.5 billion (€10.6 billion) but so far only $3.5 billion to $4 billion (€2.8 billion to €3.1 billion) of that amount has made its way to Iraq. Kimmitt said in July he would press donors to make good on their pledges.

BAGHDAD, Iraq - The Iraqi government on Thursday ordered Arabic satellite network Al-Arabiya to shut down its Baghdad operations for one month, state television reported. Al-Arabiya said Iraqi police later arrived at its offices to enforce the order.


The other pan-Arab satellite network, Al-Jazeera, had its office in the capital closed two years ago.

Al-Arabiya, which is based in Dubai, United Arab Emirates, at first said its headquarters had not yet been informed of a ban, but later said on live television that police had arrived at its Baghdad offices to close its operations down.

The order apparently was issued by Prime Minister Nouri al-Maliki's Cabinet.

"We have not officially been informed about the banning and we do not know the causes. Only the cabinet knows the causes," said Jawad Hatab, the Al-Arabiya bureau chief in Baghdad.

In July, al-Maliki warned television stations against broadcasting video that could undermine
Iraq's stability.

A statement by al-Maliki's office cited news reports that "capitalize on the footage of victims of terrorist attacks." He called on media outlets to "respect the dignity of human beings and not to fall in the trap set up by terrorist groups who want to petrify the Iraqi people."

The statement said TV stations should uphold the code of media ethics, or else the government will take legal action against them.

In November 2003, the U.S.-appointed Governing Council banned Al-Arabiya from reporting from Baghdad after it aired an audio tape said to be from
Saddam Hussein, who was still at large at the time. The station was allowed to resume its work shortly afterward.

The Iraqi government closed the Baghdad news office of Al-Jazeera television in August 2004, accusing the station of inciting violence. The office is still closed but the station operates in the Kurdish-ruled area of the north.

At one time or another, Al-Jazeera has had bureaus closed in 18 countries and its signal blocked in 30.

President Bush and Defense Secretary Donald H. Rumsfeld also have criticized the Qatar-based station, accusing it of fueling anti-American sentiment and giving terrorists a podium. Al-Jazeera says it deals with tapes purely on the basis of news value.

Iraq closes down Al-Arabiya in Baghdad - Yahoo! News

Originally Posted by greatstuff

This may not be significant but I was just thinking about the days when people first started talking about fiat currency and how they would often mention that the intrinsic value of a bill (any denomination) is only about 18 cents. This was the value of the paper and ink at that time. Assuming that it's gone up since then, I used a conservative 20 cents for my calculations. At 20 cents for the paper and ink, the new Iraqi bills would cost about 295.4 Dinar just for the materials. Manufacture, design, etc. would bring the production costs up above that.


This means that the intrinsic value of the 250 and 50 dinar notes is more than their fiat value, and that they cost considerably more to make than they are worth as money. The smaller denominations of note are physically smaller than the large but, as I didn't add much for inflation over the years, I think it is safe to say this.

This, to me, is more evidence that a revaluation is planned. Maybe I'm way off base, but it just looks good to me.

Interesting,

Good point, and this was my argument way back when the reprinting and lopping stories started to circulate. It would cost more to print, and it would be worth less when reprinted, now that just never computed to me. But then again, I use logics, and some of the so called experts and those speculations posted over the past couple years are now almost too funny to repeat. Where in the world would it ever make sense to reprint and have it cost 50 times more than the value of the new notes. LOL

Good luck to all, Mike

Originally Posted by Raditz

Isnt this higher than before??

Thursday, September 7, 2006
1 Iraqi Dinar = 0.0007075 US Dollar
1 US Dollar (USD) = 1,413.50 Iraqi Dinar (IQD)
Interbank rate +/- 0%

This means:
You buy 1 Iraqi Dinar : 0.0007075 US Dollar
You sell 1 Iraqi Dinar : 0.0006500 US Dollar
You buy 1 US Dollar : 1,413.50 Iraqi Dinar
You sell 1 US Dollar : 1,538.40 Iraqi Dinar

This is your InterBank rate. I am guessing your Bank. I just got in from Chase and here is theirs. Which is what had been posted by one of our RC Members.

Sell 0.00076310
Buy 0.00062390

It is how the Bank is Capitalising on the Dinar Now. Still way better than the Dealers as far as exchange rate and prices go.

I also had them pull out their Ultraviolet Light and check my Dinars. This was the first time they have ever seen these and I was their first customer to order them. The insigna is, there cool. I was how ever disapointed with the size of denomenation I got. All 25k's They said they would redo it, but others had said the same after they ordered mix and only got 25k's. There was noway I would give them back and miss Sundays meeting.

I finally got circulated money, about half of them looked to be that way and the smell I was use too wasn't there ither. Now the Newer ones you had to shiff pretty hard. They thought I was crazy I bet, But they were enjoying what was being showed to them. Anyways a 25k is as good as a 50nid. And I finally got see the ultaviolet Mark. Cool.

Originally Posted by neno

This is your InterBank rate. I am guessing your Bank. I just got in from Chase and here is theirs. Which is what had been posted by one of our RC Members.

Sell 0.00076310
Buy 0.00062390

It is how the Bank is Capitalising on the Dinar Now. Still way better than the Dealers as far as echange rate and prices go.

I also had them pull out their Ultraviolet Light and check my Dinars. This was the first time they have ever seen these and I was their first customer to order them. The insigna is there cool. I was how ever disapointed with the size of denomenation I got. All 25k's They said they would redo it, but others had said the same after they ordered mix and only got 25k's. There was noway i would give them back and miss Sundays meeting.

I finally got circulated money, about half of them looked to be that way and the smell I was use too wasn't there ither. Now the Newer ones you had to shiff pretty hard. They thought I was crazy I bet, But they were enjoying what was being showed to them. Anyways a 25k is as good as a 50nid. And I finally got see the ultaviolet Mark. Cool.

Ditto Ditto Ditto,

I got mine today also, everything you just said was exactly the same for me, all 25's circulated the whole nine yards. But like you said, still better price.

John

Originally Posted by jsfletcher

Ditto Ditto Ditto,

I got mine today also, everything you just said was exactly the same for me, all 25's circulated the whole nine yards. But like you said, still better price.

John

Yes, Hello jsfletcher.

You the same too. I was alittle disappointed but oh well. The Banker told me they ordered me Mix as they didn't really know what they were doing. i asj them to show me the choices. When they showed me their screen from their order supplier out of their main Bank, it said size of notes. Small Mix or large. They didn't know what a 50,250,500, or a 25k was so they just put in Mix for my order as it seems with Rodney. And as you know Rodney and I both got 25k's intead. Oh well, I couldn't redo it. I was worried about the Sunday Meeting maybe annoucing it all. I am excited.

I just got my order today from Chase in Glendale, AZ...same thing all
25's...only disappointment is that I couldn't turn right around and show them what the investment is going to be...peace out!

Got mine today from Chase in Glendale AZ...all 25's...only disappointment was that I couldn't hand them right back and ask for the reval rate...anyhow peace out!