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

EZ jump over to the all nighter thread might have some new info on there.

DINAR NEWS ALERT!!! got word from someone whos friends just returned from working in iraq and wanted to know why they were waiting for the reval by the computer as it had already revalued friday. guess news has been embargoed.

still lookin for more info...

Sorry, can't get the link to work. This has been translated.

الأسواق العربÙÅ*Ø© - "إتش إس بÙÅ* سÙÅ*" ÙÅ*غلق صراÙÂ�اته الآلÙÅ*Ø© ÙÂ�ÙÅ* الخلÙÅ*ج ÙˆØ*ول العالم 7 ساعات

Sunday, 24 Sha'ban 1427 e-September 17, 2006,

الصÙÂ�ØÂ*Ø© الرئÙÅ*سÙÅ*Ø©

The bank attributed that the closure of the "imperatives of modernization"
"HSBC" closed Sravath mechanism in the Gulf and around the world 7 hours

Dubai-markets. Net

"Bank announced that HSBC," that he would close all Sravath mechanism (automated teller) around the world, including the Gulf region, Sunday, 9-17-2006, and for seven hours.

The Bank said in a message on the phones. sent to clients in the Gulf states that the closure would begin at midnight Saturday, 9 - 16-2007, and even today, seven local time each State.

Previous attempts to penetrate

The letter justified the closure textual the longest of its kind for the bank, according to what was published in the newspaper "Middle East" as "for the necessities of modernization." without referring to the nature of the process of modernization that was technical or otherwise, the employee in the communications center of the Central Bank said that the closure of the newspaper regard to the problem in the system of these devices.

Faced automated teller machines in the UAE, during the recent years, several attempts to penetrate by individuals, worried about two years ago when security authorities found that six automated teller machines of banks Emirates and subjected to the process of international piracy by organized international gangs.

The security authorities found very precise video cameras had been installed on the devices for the registration figures confidentiality of the account holders use to conduct their banking.

As tens of foreign banks in the UAE and other appropriate to piracy in Malaysia. banks forced to reduce the amounts of withdrawals from the automated to a large extent, until it was revealed the source of penetration.

I just looked at the CBI site and it has finally changed to 1475. Nothing new here. I am still positive. been lurking around CBI site for a few hours as well as this forum.

Originally Posted by ezcash

Hi Rolls Royce... :) just so you know.. this weekend..
it was a rehearsal for us we were really practicing party time :)
A few days ago you made a incredible post about Indira and friends, relatives.. I was really intrigued by your descriptions but I can not find it anywhere? If you
remember where its posted would you mind pointing me in the right direction.. I feel I can take the time to enjoy it now that "rehearsal" is over...
Thanks for being here in the ditches with us... ez :)

Is this the one you mean? If not click on my name it will give a drop down list & you can click on all my posts from there . . .

Words on my Kurds . . . [Sorry, couldn’t resist] . . .

Background: Indira / my lady friend & companion for 10 yrs. was born in Arbil, Kurdistan in 1967 . . . arrived here @ 15 in 1982 to avoid Sadam’s savage / murderous / carnage . . . fortunately they had enough $$ to get her out in time . . . and she finished growing up with a relative here . . . while she was here Sadam killed several of her family members . . . Now she’s so American she wouldn’t think of leaving . . . you know Victoria’s Secret / Wonder Bras, etc . . .

Her two older brothers, Omer, 41 & Nazar, 43, fought Sadam & were lucky [their own words] to have survived . . . her Uncle, Saeed, 55, was gassed, lost 2 fingers on his left hand, and still looks like he just finished a bar room fight . . .

All three are part-time brokers/ & traders, primarily in farm machinery, and farm products . . . the boys are both officers in the Security Forces & Uncle Saeed was in the regional Gov’t years ago & is supposed to be a retired Police official, except he insists on going in every day . . .

Typical Kurd . . . and to them once in the Gov’t is kind of like being in the O.N.I, over here . . . “Once O.N.I., always O.N.I.�

Between them, they know probably 75% of the politicians, both the local guys & the National guys . . . and remember the Kurds make up 33% of the population . . .

They are well educated, and possess what Indira calls *Desert & Mountain Smarts*, [like 10 X street smarts] . . . and as above, they are very well connected . . . I know they all have killed [as I would have], many times, because I’m sure it was damn necessary . . . THEY ARE AS TOUGH AS NAILS, . . . somewhere between 49er gold panners, Red Adair, and Himalayan Sherpa’s . . .

They joke comparing security in their home area with Baghdad . . . about the fact that none of our soldiers have been injured, or kidnapped, or killed in the north in many years . . I’m not even sure we haven’t turned the entire area over to the Korean’s, or some other small detachment . . .

To quote one of her brothers, who was smiling as he mentioned, “If we wanted to . . . we could take care of the *street gangs* in Baghdad in two weeks, and save a lot of money on meaningless confinement . . .

They are very fond of America, BUT still a bit leery . . . we started to help them a time or two before . . . but never finished the job . . . I’m sure they are 100% with us, as long as we FINISH the job . . .

RE: Sadam’s mockery of a trial . . . Uncle may be a witness @ some point . . . don’t know yet . . .

BOTTOM LINE: They are not National decision MAKERS in an area like a R/V . . . but they are *insiders* . . . with their ears to the ground on EVERYTHING . . . and they know everybody . . . and have *admitted* [if that’s the right word], that they helped to make a case for / and a stand for / a higher R/V . . . remember their dinar was exchanged @ 150 to 100 when the new NID was put into circulation . . . whereas in the south the exchange was 100 for 100 . . .

And Indira, albeit very smart, & who acts as translator . . . at times does not know what a certain word means in either language, especially re: economics . . and I repeat again, it’s still third hand info . . .

My guys are hearing talk from the top level Kurds, who have already sifted the info, then it is sifted through my guys minds, then goes through Indira . . . then I hear it, and I suppose I must admit to doing my own interpretation . . . BUT . . . I am a SKEPTIC:::

All the above said: . . . I’m 95% convinced that SGun is correct in all aspects . . . I’m 60 yrs. old and I collect Silver Cloud III Rolls Royces . . . always skeptical . . . always cautious . . . I believe in what I SEE . . . so I’m not gonna be 100% convinced till my banker stamps my deposit slip making it official . . .

Hope this helps all . . . and especially SGUN . . . RR

Iraq Central Bank: Reserves enough to support Iraqi dinar
In spite of the continuing violence enough reserves are available to support the local currency.

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18 September 2006 (Al-Sabaah)
Sinan Al-Shibibi, Governor of the Bank, emphasized the possibility of succeeding to maintain a stable financial status in Iraq if the reserves are enough to keep the currency exchange rate stable. He pointed out that the net foreign cash reached 10 billion USD at a rise estimated by 2 billion USD since last January. This matches the set down limit within the program of the International Monetary Fund.

Al-Shibibi said that increasing violence kept the inflation high about 10% over the set down limit of the Bank. Part of this is due to the unexpectedly high security costs. He anticipated that the country would not only maintain economic stability but also achieve more progress after the improvement of security status. Al-Shibibi pointed out that Iraq is on the right track in its financial reforms including: the change of banking system from one depending on cash to another depending on trust as well as improving banks' managements and developing the technology they use to conclude transactions.

Iraq Central Bank: Reserves enough to support Iraqi dinar | Iraq Updates

Bush to head to U.N. with host of issues

WASHINGTON, 18 September 2006 (Associated Press)
The spotlight returns to Iraq and other problem areas of the Middle East as President Bush heads to the United Nations to address a host of global issues facing his administration.

The president's three-day trip includes bilateral meetings with six foreign leaders, including the presidents of Iraq and the Palestinian Authority, and a speech to the U.N. General Assembly that will focus on his vision for the Middle East.

The three days of diplomacy come as the president prepares for a busy political schedule. Bush, who lately has been trying to turn the election-year debate away from the unpopular war in Iraq and toward a broader war on terrorism, plans to spend much of the next seven weeks campaigning for fellow Republicans.

And he isn't leaving politics behind while he's in New York: Monday night he headlines a fundraiser for the Republican National Committee at the Manhattan home of billionaire financier Henry Kravis.

At the United Nations, Bush will try to highlight his goal of spreading democracy. To that end, Bush was to spend his first day meeting with leaders of Malaysia, a democracy with a moderate Islamic government; El Salvador and Honduras, two Central American nations that have moved from military dictatorships to democracies; and the emerging African democracy of Tanzania.

More closely watched will be meetings Tuesday and Wednesday, beginning with French President Jacques Chirac, the only other member of the coalition of nations working with the U.S. to stop Iran's nuclear ambitions.

Iran has accelerated its nuclear program and defied U.N. demands, and the U.S. had hoped to have a resolution to apply sanctions on the government by this week's meeting. Administration officials say they don't expect Bush to deliver a breakthrough with other leaders absent, but they say sanctions should come soon.

Iranian President Mahmoud Ahmadinejad also planned to be at the U.N., but last week Bush ruled out any discussions with him until Iran suspends nuclear enrichment. Bush's aides said lower-level officials also will not make any contacts with the Iranians.

On Tuesday afternoon, Bush is scheduled to meet with Iraqi President Jalal Talabani to discuss Iraq's progress toward democracy amid continuing violence. Nearly 200 people have been killed in attacks or tortured and dumped in rivers and on Baghdad streets since Wednesday, and politicians are arguing over a proposal to transform Iraq into a federate state.

Bush said last week that he was disappointed the number of U.S. troops in Iraq was climbing rather than falling. He said hopes for troop withdrawals were dashed by the spike in violence in Baghdad.

Polls show the war is unpopular among Americans, and Republicans worry it could cost them votes in November's elections. Bush has been trying to shift the focus to the broader war on terror in recent weeks, introducing legislation that has sparked debate on Capitol Hill about how to treat terrorism suspects.

Before he heads back to Washington on Wednesday, Bush plans to meet with Palestinian President Mahmoud Abbas, who is struggling to get the militant Hamas to soften its anti-Israel ideology. The U.S. and other nations have halted aid to the Palestinian government until Hamas agrees to renounce violence, recognize Israel and accept past peace agreements. Hamas caved in to pressure last week and announced it would form a coalition government with Abbas' more moderate Fatah Party.

But coalition talks have stalled over U.S. demands that the unity government recognize Israel. Palestinian officials said Abbas will appeal to Bush to support a coalition that doesn't fully meet international demands for a changed stance on Israel. They said he would warn that failure to work out a unity government could lead to a Palestinian civil war.

Bush aides said he would discuss ways for the global community to help the Palestinians, Iraq and Lebanon.

Bush to head to U.N. with host of issues | Iraq Updates

Originally Posted by American Contractor

The true answer is no. The story is completely false.

Interesting,

The fact is, whenever one reads an article it is all in the translation, and we have all seen how screwed up these reports become once they hit major media in the past.

I can tell you this, whenever you hear or read any news, take it for about 50% accurate and you will be safe. As to trench and moat issue, yes, this has already started, but due to the terrain around Baghdad, this will entail only trenching in about 40% of total circumference due to the fact most of area is already inaccessible by vehicles, so although the concept is to make all of Baghdad inaccessible by vehicle, it only entails 40% to achieve this, so you can see how news can easily be distorted.

I am sure the army is hedging to avoid it looking like they are doing something they are not actually doing. After all, 40% is a far cry different than 100% trench around Baghdad. Makes you laugh whenever media gets any news, they want to sensationalize it to the max, while on the other hand, the army wants to minimize it. LOL You know how the army operates, one officer rarely knows what the other is saying. (g)

As to oil companies in Iraq at the moment, yes, this IS true, but only in areas which are safe, and this entails Kurdistan region, but this is not news, they have been there for months quietly exploring region for more oil reserves documentation, so again, this is not new news, there are several major oil players in Iraq, and many more minor players, one which I have worked with, so I can say without doubt, there is plenty going on in Iraq regards to new oil exploration. (g)

Good luck to all, Mike

No mention of Iraq.


Gist of statement issued by G-7 financial leaders+

Released : Saturday, September 16, 2006 6:20 AM

SINGAPORE, Sept. 16-(Kyodo), The following is the gist of a statement issued Saturday by finance ministers and central bank governors of the Group of Seven nations after their one-day meeting in Singapore.

-- The G-7 holds a positive global economic outlook, with the United States posting moderating growth, Europe seeing solid growth and Japan staging a broad-based recovery.

-- Emerging economies are broadly enjoying robust growth.

-- The G-7 will remain vigilant to downside risks such as tight and volatile energy markets and rising inflation expectations in some countries.

-- Volatile and disorderly movements are not desirable in exchange rates for economic growth.

-- Greater exchange rate flexibility is desirable in emerging economies, especially in China.

-- The G-7 renews its pledge to pursue sound policies and calls on others to meet shared responsibility for orderly adjustments of global imbalances.

-- The G-7 urges all parties to show the political will and flexibility to resume the stalled Doha Round trade liberalization talks under the World Trade Organization.

-- Fundamental reform is necessary for the International Monetary Fund to maintain its legitimacy and credibility.

-- The G-7 agrees to intensify efforts to combat money laundering, and as well as terrorist and illicit financing.

Iraqi Banks hold meetings in Arbil

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18 September 2006 (Al-Sabaah)
A lot of members of administrative boards of the banks and companies taking part in these meetings are living outside Iraq ; thus they would be unable to participate in these meetings in case they were held in Baghdad.

An Iraqi investment pointed out that the International Investment Bank in Basrah along with Al-Khaleej and Sumar banks are preparing to hold their meetings in Arbil but this procedure will not provide much information for the stockholders in these banks and companies about the meetings or what will be discussed in them concerning the present and future of their banks. How ever, another source who refused to reveal his name confirmed that the disturbing security situation in Baghdad justifies this exceptional step.

The indexes of the Iraqi stocks market sessions are pointing out for a high rise in circulated stocks in the banks sector at the cost of other sectors. The stocks of 10 banks have been circulated in the last session and their prices went high. The most distinguished bank among them was of Basrah which achieved the highest percentage estimated at 50, succeeded by the bank of Baghdad at a percentage of 22.2. The banks sector index closed at 39.752 points at a rise of 3.561%

The bank sector shares exceeded 400 million stock of the circulated stocks (79.7% of the overall stocks circulated in the session, at a value exceeded 79.8% of the overall mass of circulation).(Source)AlSabah

Iraqi Banks hold meetings in Arbil | Iraq Updates