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

Originally Posted by cigarman

Did you ever get that phone call from Bagdad that you were waiting on? Inquiring minds want to know.

nothing... we suspect comm. blackout as he is a soldier.

Thanks, maybe he will sneak somehow and call. While I have your attention, on a scale of 1 to 10, how do you feel for this month being it?

Originally Posted by Mike5200

Article needs translating

its from an article i posted earlier in this thread about the parliament alloting themselves 20 Million Dinar CASH ADVANCE loan. if they were going to reprint the dinar they wouldnt have gotten it in cash.

Originally Posted by cigarman

Thanks, maybe he will sneak somehow and call. While I have your attention, on a scale of 1 to 10, how do you feel for this month being it?

"""""11"""""

Originally Posted by boogirl

20 million dinars bank loan to the members of the House of Representatives

(Voice of Iraq) - 27-09-2006 | sent this issue to a friend :

20 million dinars bank loan to the members of the House of Representatives Morning Zubaidi discussed with the charge d'affaires of Lebanon financial effects between the two countries Baghdad - the Samurai The Finance Minister Baqer Jabr Al-Zubaydi bank Rafidain and Rashid granting members of the House of Representatives a cash advance of 20 million dinars each Vice ensure that their salaries deducted monthly installments over 36 months, as discussed with the Lebanese Chargé d'affaires consultant Nawaf financial effects between the two banks. He said banks adviser in the Ministry of Finance had been instructed to various branches of government banks Rafidain and Rashid implementation of directives by the Minister of Finance. The actions of bank lending, said the distribution of 140 members of the House of Representatives of the branches of the Rafidain Bank, 135 members of the Rasheed Bank. On the other hand, Research and Finance Minister Baqer Jabr Al-Zubaydi with the Chargé d'affaires Lebanese financial consultant Nawaf effects between the two banks. According to the "morning" an official source at the Ministry of Finance He added that the two sides had agreed during their meeting in Baghdad yesterday to resolve all the obstacles to the work of banks in both countries to serve the interests of the two fraternal peoples. The source added that the Lebanese Chargé d'affaires expressed during the meeting expressed his thanks and gratitude to the position of the Iraqi government in support of the Lebanese people during the Israeli aggression.

Just wanted to make a few lines a tad larger! Now, the big question, WHY?

Must be something cooking in the kitchen and we have over a hundred or so cooks!

RV-Time!

This is the link

Here is what it says:

Director of the Exchange Market: the people are in need of a direct edification in Stocks Investment Director of Iraqi Exchange Market: Iraqis are in need of a direct edification in stocks investment
26 September 2006 (Al-Sharq al-Awsat)

Commissioned Director of Iraqi exchange market, Taha Ahmad AbdulSalam, confirmed that Iraqi public has lately participated in the prosperity of the circulated stocks’ prices in the market in spite of the fact that most participants entered it without having the slightest experience.

Taha said that there are several reasons for not circulating some companies’ stocks which are involved in selling and buying processes some of the companies are busy with their general boards’ meetings while others are prevented from circulating.

The last reason is the investor himself; most capital owners think that the best way of investing is to buy stocks and keep them. That is, they do not speculate them because either they are afraid to do so or they have no knowledge and experience in this kind of investment. That is why a large rate of some companies’ stocks is not circulated in the market. Taha confirmed that Iraqi exchange market planned, since its foundation, to educate the investor and whoever wants to enter the market through issuing regular publications about the market and the mechanisms of speculation. There is also the internet service which gives its visitor the access to inquire about almost anything. In addition, to thorough lessons about stocks and the exchange market.

Taha stated that electronic circulation, starting soon, will increase the range of circulation to include the rest of the provinces through agents who will be assigned to manage the speculation process in each province.

About the late revival of the circulated stocks’ prices, he explained that the rate of the increase in prices reached (5.2%) and it is a good one. What is more important is that the market maintained this raise. Taha anticipated that as soon as the electronic circulation begins, it will increase this rate even more and this will certainly revive the Iraqi stocks’ market. There is also the successful works of the participant companies which will eventually be reflected on the circulation prices of their stocks in the market.



My question: is this good or bad?

I'll take it!!!!!!!!!!!!!!!!!!!!!!!!lol. Thanks alot for giving us hope. This has got to be the longest rollercoaster ride that I've ever been on.

Originally Posted by boogirl

20 million dinars bank loan to the members of the House of Representatives

(Voice of Iraq) - 27-09-2006 | sent this issue to a friend :

20 million dinars bank loan to the members of the House of Representatives Morning Zubaidi discussed with the charge d'affaires of Lebanon financial effects between the two countries Baghdad - the Samurai The Finance Minister Baqer Jabr Al-Zubaydi bank Rafidain and Rashid granting members of the House of Representatives a cash advance of 20 million dinars each Vice ensure that their salaries deducted monthly installments over 36 months, as discussed with the Lebanese Chargé d'affaires consultant Nawaf financial effects between the two banks. He said banks adviser in the Ministry of Finance had been instructed to various branches of government banks Rafidain and Rashid implementation of directives by the Minister of Finance. The actions of bank lending, said the distribution of 140 members of the House of Representatives of the branches of the Rafidain Bank, 135 members of the Rasheed Bank. On the other hand, Research and Finance Minister Baqer Jabr Al-Zubaydi with the Chargé d'affaires Lebanese financial consultant Nawaf effects between the two banks. According to the "morning" an official source at the Ministry of Finance He added that the two sides had agreed during their meeting in Baghdad yesterday to resolve all the obstacles to the work of banks in both countries to serve the interests of the two fraternal peoples. The source added that the Lebanese Chargé d'affaires expressed during the meeting expressed his thanks and gratitude to the position of the Iraqi government in support of the Lebanese people during the Israeli aggression.

I may be way off in my thinking but, it says "their salaries deducted monthly installments over 36 months". If the dinar was to RV this month, and their salaries adjusted accordingly, how could they possibly repay the loan with deductions from their salary? They would probably not be making 20 million dinars over a 3 year period. I hope I'm missing something.

Originally Posted by pistons

I may be way off in my thinking but, it says "their salaries deducted monthly installments over 36 months". If the dinar was to RV this month, and their salaries adjusted accordingly, how could they possibly repay the loan with deductions from their salary? They would probably not be making 20 million dinars over a 3 year period. I hope I'm missing something.

I'm a little confused by that also. Can anyone shed some light on this? Why a loan and why such a short period of time to pay it back?? Susie, I'm assuming you may have an answer to this.

Originally Posted by TEXASGIRL

I'm a little confused by that also. Can anyone shed some light on this? Why a loan and why such a short period of time to pay it back?? Susie, I'm assuming you may have an answer to this.

This is just a guess...but could it be that by securing the loan before the reval and documented that it was taken out before the reval, this would "lock" them in at the current rate at the time. Then when the reval occurs (hopefully tomorrow) that 20 million bumps up to the new value. So their 20 million is actually far more than 20 million. Just like our 1 million dinar we paid $740 for becomes 1 million plus. This is just a guess and sorry if once it is picked apart it makes no sense what-so-ever but my head is swimming, anxiety is through the roof, and anticipation is about to kill me....so it may be an illogical guess....anyway I gave it a shot. Hang in there everybody I feel a big reval in a few hours....(just a hunch!)...