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

Originally Posted by Offshore-Wealth.com

Interesting,

Nice to see so many new members here, welcome one and all. We seem to attract the smartest and brightest people here, and with all the well educated posters, and more importantly, the ones who are searching out all the news articles, I can retire early. (g)

Good luck to all, Mike

Many might be like me Mike,

We read the forum all the time. We just don't post that often. :)

I for 1 log in at least once a day and try and stay up on the news. There is so much to read and so much good information on this forum. I have looked at others, but non are as helpful or as friendly.

Just read from someone (not Susie) a r/v is on the cards in the next 3 days, possibly even tomorrow. Take it as always for what it's worth please, just passing on what I'm hearing/reading.

Have a read of this, good news, should attract foreign investors......




Iraq aiming to nearly double oil output within five years: minister
VIENNA, (AFX) - Iraqi Oil Minister Hussein al-Shahristani said Monday that
Iraq was aiming to nearly double crude oil production to 4.0-4.5 mln barrels per
day within
five years.
Iraq's current production figure is about 2.3-2.4 mln barrels per day (bpd),
according to official data.
"Our current plan is to increase production of crude oil over the coming
five years to between 4.0-4.5 mln barrels per day," he told reporters after a
meeting of the Organisation of Petroleum Exporting Countries (OPEC).
"We expect, in a decade or so, for Iraq to be producing over 6.0 mln barrels
per day," Shahristani added.
Iraq is one of the 11 members of the cartel, but it is the only member not
to be bound by its quota system and OPEC's overall output ceiling of 28 mln
barrels per day.
[email protected]

Iraq aiming to nearly double oil output within five years: minister

The Iraqi Dinar between the illusion of zeros and the game of economy
10/09/2006
Source: Al-Sabah


A lot have been said lately on the phenomenon of amending Iraqi Dinar. The word “Amendment” implies several aspects including improvement first. When this procedure was first stated by one of senior officials directly concerned with this subject, it was merely a general statement.

Later, this suggestion turned out to be the removal of three zeros from right side of the figure; thus ( 5.000.000) five million I.D. will be ( 5.000 ) five thousand I.D. many saw great good in this procedure but it is necessary to explain it scientifically.

The value of the currency affects many aspects which are linked to the National Economy like its strength and how much resource it has. It also, reflects the firmness of association when range and size of deficit to GDP represent how much that deficit is taking from size of GDP of a country; in other words, this ratio represent the size of the ( corrosion ) taking place in the GDP because of this shortfalls in the balances. Hence the economic imbalance which affects the structure of economy resulting this contradictory combination that finally leads to economic problems reflected on the economic process in this country affecting all joints of life and it is revealed even move the ordinary individual because it is directly attached to his average level of living.

Thus the existence of the deficit in the balance requires to filled by the state, and then there is the increasing demand for the foreign exchange to fill that deficit, that demand grows whenever the deficit does, and the size of the financial obligations of a certain country grows too, especially when these obligations means the increase in its foreign debts.

The high demand for the foreign exchange leads to the rise of the prices of the foreign currency which is subjected to the mechanism of the supply and demand and the requirements of the international or local market. This will lead to the devaluation of the local currency of that country and will be reflected on the living situation. In other words, the ratio of inflation in the economy which is obvious to the observer is actually in the increasing zeros added to the currency. This shows clearly in the Iraqi economy and the economies of such countries like Turkey, Italy, Iran, Israel and others.

Another important point is that the currency is issued and its value is determined according to a law issued by the state through the mechanisms and the institutes in charge of the financial policy in that state. So it is certainly not a viewpoint of a certain person nor just on opinion of this matter.

To recall some experience, Turkey, which has suffered from severe inflation after accepting the World Bank and the International Monetary Fund concerning the economic reform programs? , which led to progress in economic performance, but the price of this performance was paid by the middle class in society. This economical progress did not prevent the existence of a high inflation ratio that seemed to be obvious to the ordinary none-specialized observant to economy, like when you learn that the price of a loaf of bread is one million Turkish liras. It was then, the value of the currency was improved by removing zeros, and the price of the loaf became one thousand Turkish liras. But this was not done by re-constructing the Currency Law, nor by its Gold and Cash re-evaluation. It was by an internal procedure aiming at absorbing the fear, despair and frustration caused by the high ratio of inflation and so, the zeros were removed without a real change in the true value of the currency which represent the true value of the individual income; meaning, the amount of goods and services an individual could get. Thus, the removal of the zeros was no more than a ( monetary illusion ). So it is not a fundamental but rather a formal change that affects the mentality of those who deals with the currency more it affects the size of the economic transactions.

A reporter of one of the Arabic newspapers asked me about the impact of this decision, if applied in Iraq? My answer was that it would not exceed the ( monetary illusion ) and there would not be any real changed in the true value of the currency nor any re-evaluation to it, because such actions would require a re-construction of the whole Iraqi economy and the re-arrangement of the Iraqi economic papers affecting its bound with the Paris Club and its obligation to the conditions of the World Bank and the International Monetary Fund. This will not happen ; what will happen is an attempt to absorb the anxiety and frustration on the Iraqi currency dealer. We can not change the value of the Iraqi currency into a better state of value and pricing as long as there are still unpaid external debts and until we find the best way to deal with these debts.

Some dealers in the currency markets in the neighboring countries feared from the Iraqi Government taking such actions. This fear would have been normal during the reign of the fallen regime because of the unavailable freedom for the circulation of foreign exchange, the existence of the central market and the dictatorial philosophy then. But now, the freedom to deal with and circulate foreign exchange is available in Iraq because of the economical openness and the circulation of currency became free in and outside Iraq; but it is also subjected to the factor of supply and demand. There is also, the political stability which greatly affects directing the rates of the supply and demand and its management in and outside Iraq.

Any observer can sense this more clearly in the money markets in neighboring countries.

Finally, we have a long way to go on the way of the economic reform and reconstruction in order to improve the price of the Iraqi Dinar and its raise its value or as some would like to call it ( when the Iraqi Dinar gets its health back ). This is not impossible and tomorrow is not too far.

We are working on the privatization of the sector Alenzafahbalaatmad domestic and int Interesting Article (Bolded part anyway)

Since this is a translated page I will copy all of it (some have problems reading translated pages)

Translated version of http://www.alsabaah.com/

*********************

Baghdad Haider spring

Saber-Issawi said Secretary of Baghdad : the secretariat plans to move towards the future benefit of the investment in the implementation of some vital projects, The use of the capacities of the private sector in implementing the part of those projects.

Stressing the concern of the secretariat to provide all available energies to the elimination of the water crisis suffered by the residents of Baghdad, , explaining the role of the secretariat in creating tourist areas stretching along the banks of the Tigris River and highlight the civilizational character of the city of Baghdad, as well as work on the construction of many housing compounds in Baghdad.
He added that during the meeting Eissawi's (morning) with the secretariat of Baghdad heading towards privatization of cleanliness in the city of Baghdad, relying on the private sector in this. Since most of the countries of the world working to rely on the potential of the private sector in cleanliness factor. The lifting of this now to the Council of Ministers, which is on the way to approval. There are local and global companies expressed willingness to participate in this matter against the benefit of those wastes containing (11) raw material cellulose notably rubber aluminum and iron some types of fertilizer plant. So these companies to clean up Baghdad free of charge in exchange for access to such material.
Issawi pointed out that the per capita share of the services sector in the municipality of Baghdad did not exceed 19 dollars. Compared to neighboring capitals such as Amman, as the per capita share of the $ 100 municipal services without water and sewage. In Tehran of $ 129 also without water and sewerage.
The Eissawi of the existence of plans for the construction of commercial complexes of three to five-storey building in Baghdad. in addition to working to exploit both sides of the Tigris to the establishment of five-star tourist destinations such as the Kazimiyah area so that both sides of the river for these tourist sites exclusively without any other origin military or civilian. He said Eissawi also : we rely on the activation of the investment law through the transmission of certain strategic outlook projects that are beneficial to the citizens to Iraqi and foreign companies in the event of adoption of this law, . Note that we have 600 billion dinars would not yet released, There are nearly 600 projects, including the referral under Section under media and the other under contract projects are started by a few days ago. We have announced several projects for the private sector to contribute to the achievement of ... The heavily dependent on this sector and through investment law in the completion of these projects. As for the possibility of eliminating the water crisis in Baghdad said Eissawi : there are three main operating now and we expect to contribute to resolving the problem of water and rehabilitation of all existing projects currently in a 80 complexes with eight major projects of water to operate round the clock, we have succeeded so despite the occurrence of some of these projects in different areas such as security Karkh water project 30 km north of Baghdad. Also quick work through the establishment of some projects and pools of water Kassav quick and this solution is now under way, such as pools Amari and transit as well as the expansion draft water jump card 48 million liters per day may solve the problem of this project (11) replaced in the Rusafa. We have a draft water capacity of Sadr City (90) million liters per day, which it is hoped will soon be implemented and the problem of water of this city by 90% ... He added Issawi. With all of these projects, there remains a shortfall in the Rusafa can be resolved only through a giant water Rusafa. This project consists of five phases, a full year for each phase. We now only two phases of the project which is two years to resolve the water crisis in the city of Baghdad, radical and left three stages can be delayed delivery for the coming years. He explained that the secretariat of Baghdad Eissawi future to build some housing complexes such as Al-Hussein residential compound in the camp ground previously rational and some other compounds in order to alleviate m n enormous population of inflation experienced by Baghdad.
*******************

Hmmm 5-Star Hotels? 600 billion not yet released? Waiting on Investment Law? Why hold 600 billion? Waiting on R/V perhaps? Verweee Interwesting!

Originally Posted by tiffany

We are working on the privatization of the sector Alenzafahbalaatmad domestic and int Interesting Article (Bolded part anyway)

Since this is a translated page I will copy all of it (some have problems reading translated pages)

Translated version of http://www.alsabaah.com/

*********************

Baghdad Haider spring

Saber-Issawi said Secretary of Baghdad : the secretariat plans to move towards the future benefit of the investment in the implementation of some vital projects, The use of the capacities of the private sector in implementing the part of those projects.

Stressing the concern of the secretariat to provide all available energies to the elimination of the water crisis suffered by the residents of Baghdad, , explaining the role of the secretariat in creating tourist areas stretching along the banks of the Tigris River and highlight the civilizational character of the city of Baghdad, as well as work on the construction of many housing compounds in Baghdad.
He added that during the meeting Eissawi's (morning) with the secretariat of Baghdad heading towards privatization of cleanliness in the city of Baghdad, relying on the private sector in this. Since most of the countries of the world working to rely on the potential of the private sector in cleanliness factor. The lifting of this now to the Council of Ministers, which is on the way to approval. There are local and global companies expressed willingness to participate in this matter against the benefit of those wastes containing (11) raw material cellulose notably rubber aluminum and iron some types of fertilizer plant. So these companies to clean up Baghdad free of charge in exchange for access to such material.
Issawi pointed out that the per capita share of the services sector in the municipality of Baghdad did not exceed 19 dollars. Compared to neighboring capitals such as Amman, as the per capita share of the $ 100 municipal services without water and sewage. In Tehran of $ 129 also without water and sewerage.
The Eissawi of the existence of plans for the construction of commercial complexes of three to five-storey building in Baghdad. in addition to working to exploit both sides of the Tigris to the establishment of five-star tourist destinations such as the Kazimiyah area so that both sides of the river for these tourist sites exclusively without any other origin military or civilian. He said Eissawi also : we rely on the activation of the investment law through the transmission of certain strategic outlook projects that are beneficial to the citizens to Iraqi and foreign companies in the event of adoption of this law, . Note that we have 600 billion dinars would not yet released, There are nearly 600 projects, including the referral under Section under media and the other under contract projects are started by a few days ago. We have announced several projects for the private sector to contribute to the achievement of ... The heavily dependent on this sector and through investment law in the completion of these projects. As for the possibility of eliminating the water crisis in Baghdad said Eissawi : there are three main operating now and we expect to contribute to resolving the problem of water and rehabilitation of all existing projects currently in a 80 complexes with eight major projects of water to operate round the clock, we have succeeded so despite the occurrence of some of these projects in different areas such as security Karkh water project 30 km north of Baghdad. Also quick work through the establishment of some projects and pools of water Kassav quick and this solution is now under way, such as pools Amari and transit as well as the expansion draft water jump card 48 million liters per day may solve the problem of this project (11) replaced in the Rusafa. We have a draft water capacity of Sadr City (90) million liters per day, which it is hoped will soon be implemented and the problem of water of this city by 90% ... He added Issawi. With all of these projects, there remains a shortfall in the Rusafa can be resolved only through a giant water Rusafa. This project consists of five phases, a full year for each phase. We now only two phases of the project which is two years to resolve the water crisis in the city of Baghdad, radical and left three stages can be delayed delivery for the coming years. He explained that the secretariat of Baghdad Eissawi future to build some housing complexes such as Al-Hussein residential compound in the camp ground previously rational and some other compounds in order to alleviate m n enormous population of inflation experienced by Baghdad.
*******************

Hmmm 5-Star Hotels? 600 billion not yet released? Waiting on Investment Law? Why hold 600 billion? Waiting on R/V perhaps? Verweee Interwesting!

LOL I posted that. Glad someone thought it interesting, not one reply on it. Guess I AM amongst the smart people here.

Cheers!
DayDream

There doesn't seem to be much news on the wires today. Calm before the Storm?

We have alot of New members here at Rolclub from IIF. Very Cool and Welcome to you all. Please look in the Dinar Forum for the Crazy Thread as we here tend to stir away from the news for this thread. No warning just letting all know that we have a Crazy Thread too do most of these last pages in. Thanks.

Ok anything other than the latest News has been Moved. For the ones that dont know where the Crazy Thread is click this link: http://www.rolclub.com/iraqi-dinar-dinarinfo-com/ for a list of all the Dinar Threads. Thanks

Thats Where all the deleted posts went to as I'm sure these will too

Originally Posted by Mike5200

Thats Where all the deleted posts went to as I'm sure these will too

Hi Mike,

They are not deleted. They are moved to their oppropriate thread. All you newbies please Introduce your self here to the Dinar Gang: http://www.rolclub.com/iraqi-dinar-d...inar-gang.html

Hi SS, first of all welcome aboard!! Many of us have followed your posts from IIF, and I for one admire your convictions on this situation. In case you have not noticed the population here is a bit more level headed, and rest assured that IF Sept. were to pass with no r/v you will NOT be attacked here. That leads to my question.... With all due respect to you and your convictions, and without revealing the source of your information, what CAN you share with us to put us on the same page with you on an Sept. r/v? Most of us have read the same articles, the same news etc. I am just curious as to what information you are able to share with jeopordizing (spelling?) your source. And to let you know for sure this is not an attack forum. We all KNOW this will happen.


John