Thread: Iraq/Dinar News. before Febuary 2nd 2006

Originally Posted by Hardwood

I would like to expand on my first reply....

As far as I know, the CBI is not funding the rebuilding projects. As a matter of fact I recall reading an article stating that Millions if not Billions of reconstruction USD were going unspent due to inadequacies within the Iraqi Government.

The salaries have gone up, but modestly.

I didn't mean the CBI was funding reconstruction but those rebuilding are purchasing dollars to import materials.

Modestly but enough to create the rise.

What is Iraq pumping daily? 1.5-2 million (bpd) ? At $50 per, that's $75-100 million per day and whats the recent auction amounts? See the cycle?

Originally Posted by Inscrutable

I didn't mean the CBI was funding reconstruction but those rebuilding are purchasing dollars to import materials.

Modestly but enough to create the rise.

What is Iraq pumping daily? 1.5-2 million (bpd) ? At $50 per, that's $75-100 million per day and whats the recent auction amounts? See the cycle?

I believe the reconstruction funds were already given in USD. The oil being sold is also income in USD for the GOI. The CBI manages these funds, along with a myriad of other income streams (agriculture, Natural gas, etc..)

It remains a mystery to both of us the true intentions of the CBI at this point in time.

It appears to me that the CBI has done their part, and there is a surplus of USD coming in vs Dinar going out. But I may be wrong as I stated before I do not have all the data in front of me.

I appreciate your points of view and I am not disputing your statements as I cannot confirm or deny my own.

At this point we are all waiting with baited breath until the GOI makes their historic moves.

Thank you again for the open and intelligent discussion.

Originally Posted by neno View Post
Just look at this Link, Stack is to big to load.
http://www.ssb9.net/users/38179/stacks_of_dinar.jpg

Notice there are no 25k's


I fail to catch the meaning of this.

Why would you see any 25k's in a stack of money this big? A stack of 100 million dinars (in 25k's) would barely even fill a shoe box.

If you're trying to impress someone with the appearance of a huge mountain of money - you aren't going to do it showing 25k bills - you'll obviously use the smaller denominations.

Does someone have too much time on their hands!

I don't know bill...Neno sure knows how to make ME all fuzzy inside! (with the pic)....and I'm thinking that it isn't HIS particular stash! (if it is, I'm pretty impressed Neno! )

Originally Posted by Inscrutable

I didn't mean the CBI was funding reconstruction but those rebuilding are purchasing dollars to import materials.

Modestly but enough to create the rise.

What is Iraq pumping daily? 1.5-2 million (bpd) ? At $50 per, that's $75-100 million per day and whats the recent auction amounts? See the cycle?

If your using the 100 million dollar auctions to fit your model and are happy with the fit, there's a problem. There have only been approx. 5 such auctions since late Oct/early Nov. The rest were less and most times far less. Where do the petro dollars go then? If they have taken in $150 million in a day and are spending sometimes less than a third on auctions the coffers should be doing well. That seems to fly in the face of the argument of not being able to back a larger reval. Who knows? Not us!

Originally Posted by PopaDinar

Thanks Bill, that is interesting, I live in NC and had no clue they sell...

Banker's Bank has an office right here in Winston-Salem and a regional office down in Charlotte, I'm going to have to go check them out... I'll let everyone know there position once I go and speak with them after the weekend...

Thanks again

popaDinar, Please send me a PM when you find this out. I am holding dinars for a freind in N. Caorlina cause he has trouble finding them there. This info would be much appreciated. Thanks.

Minister : Iraqi Oil Company controlled the largest new fields

BAGHDAD (Reuters) - The Iraqi Oil Minister Hussein Shahrastani on Wednesday that Iraq would most important crops, oil under the control of national oil companies can invite new multinational companies to help support exports and production.

Shahrastani added in an interview with Reuters that up 27 oil-producing nations, including all fields will be allocated for the giant Iraqi National Oil Company. He said that these fields are reserved for national companies that can collaborate with other companies to increase production from those fields.

He reported that talks with foreign companies on the contract will begin after the Parliament passed the law. Shahrastani refused to say when the law is expected to parliament, but expressed confidence in the conclusion of the negotiations in a few days.

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

Originally Posted by Inscrutable

More spending happening now due to reconstruction plus all the salary increases that have been made.

No matter how you look at it if the CBI was actually "removing" dinar then they would be leaving Iraq without a local currency while at the same time "flooding" the economy with the currency used to make these dinar purchases, USD, Euro, etc.

hasnt the cbi stated that they are removing currency from circulation to help with inflation?

intetesting Vipor....if you were to search Western Oil a Canadian Oil company, you would find that they have been negotiating since March 2006. It was with the Kurds....almost 11 months ago...no wonder they are holding up hcl right now, wonder how many contracts are signed?

Originally Posted by Dinar Cha Ching

Defintely a slow news day when 7 month old articles are being rehashed. Although that article was a doozy back then.

When the illiterate and lazy leadership gets absolutely nothing done for months and months, this old news is really just like new so it is easily brought back. They really need to get off their duffs and do something for their people for a change. It is getting quite tiresome, LOL