Thread: Iraq/Dinar News. Before Feb. 21, 2007

Originally Posted by Inscrutable

So $7,500 per million? That's a good start.

is that $75,000 per million?? OR $7,500 PER MILLION?

Originally Posted by christiankat

is that $75,000 per million?? OR $7,500 PER MILLION?

$7,500.00 as stated its a start.

Gloribee

Originally Posted by christiankat

is that $75,000 per million?? OR $7,500 PER MILLION?

sorry......I need to put on my thinking cap....I know the answer to my own question.....thanks.

Originally Posted by Inscrutable

So $7,500 per million? That's a good start.

That’s going to be 133.3 IQD : 1.00 USD / 1.00 USD divided by 133.3 IQD = 0.0075 USD / 0.0075 USD x 1,000,000 IQD = $ 7,500.00 USD per 1,000,000 IQD.

Originally Posted by bob1940

statement in that post corrected by the poster with my request . I realy think it was a fluke. but any how it is taken care of. Have a good day all. NOW LETS ALL GET BACK ON DINAR AND IRAQI INFO< AND NEWS> and lets all GIVE IT A WHOOOOOOOT! FOR A HIGH RV>

Could be a mistake. I believe 100mil dinar at 1280 rate is 75,000.00 or close to it.

7500 per mill is not good enough. Try again please.

Originally Posted by ForceReK0n

Could be a mistake. I believe 100mil dinar at 1280 rate is 75,000.00 or close to it.

100M IQD / 1280 exch rt = $78,125

100M IQD / 1333 exch rt = $75,018.75

Could you imagine how many speculators would jump on the dinar if they did reval at 7500 to one mill? Alot of people could still buy alot of dinar at a good rate in anticapation of it still climbing like we all know it will, driving the price through the roof. Who knows, just let it MOOOOOOOOOOVE !! LETS GO !!

The economic event : rushing to plunge Iraq WTO (2 - 2)


حسام الساموكHossam Alsamuk
كان أحد أبرز مطالب ممثلي القطاع الصناعي الخاص في اجتماع عمّان الخاص بتدارس تهيئة الاقتصاد العرا قي لاشتراطات عضوية منظمة التجارة الحرة العالمي ة، الموقف من لعبة الغاء التعرفة الكمركية التي سبق أ ن فرضها السفير بريمر لكن هذا الفرض القسري نفسه كا ن قد تم تحديد سقف للعمل به ينتهي حتما في 31/12/200 4 ، في حين غالت أطراف يبدو أنها تنفذ أجندة معينة يستر الغاء التعرفة وتفرض أمرا واقعا باعتبار ما اعتمد في حينه ما عرف برسم اعادة الاعمار البالغ نسبة خمس ة بالمئة من القيمة التقديرية للبضاعة المستوردة هي الضريبة الكمركية في حين ان نسبة الضريبة الكمر كية المتعارف عليها في العراق أوفي كل أرجاء العال م تبلغ نسبا تصل الى مئتين أو ثلاثمئة بالمئة حسب تق ديرات أهمية أية سلعة وضروراتها وامكان وجود انتا ج منتج محلي مثيل أو بديل لها.One of the main demands of the representatives of the private industrial sector in the the Amman meeting on examining the economy to create Ara Afterward requirements for membership in the World Trade Organization global free e, the position of the game of the cancellation of customs tariff is already a n imposed by Ambassador Bremer, but this imposition forced himself Ka n has been a ceiling for the work by the end inevitably in the 31 / 12 / 200 4. while Galt parties seem to have implemented certain agenda Lester the cancellation of tariff and impose a fait accompli as it is adopted what is known at the time and settling reconstruction of a fifth e% of the estimated value of the goods imported the customs tax while the tax rate Kamer Kay acknowledged in Iraq fuller throughout Aal m ratios of up to two hundred or three hundred% as falling Dirat importance of any commodity, and entails and the possibility of the existence of Anta c unprecedented domestic product or alternative.

الغريب في تداولات اجتماعات منظمة التجارة العال مية أن الاطراف التي تسيّر سياساتها -وهي في العاد ة الدول المهيمنة على الشركات متعددة الجنسيات- غ البا ما تدفع الدول النامية للتورط في قبول تعهدات واذعانات قد تلحق أشدّ الضرر باقتصاداتها ودخلها القومي وميزان مدفوعاتها لذلك كانت ثمة نصائح تلق اها بعض أفراد الوفد العراقي من أعضاء سابقين وذوي تجارب(مرّة) في هذا الشأن أن يتريثوا كثيرا ويحمل وا بقية الوفدأن يتفقوا على ثوابت وخطوط عريضة قبل الخوض في عرض وقائع ومفردات التحاور لأن ثمة تصيّد لأية هفوة قد تؤخذ اقرارا وتعهدا ملزما.Surprisingly transactions related meetings of the World Trade Organization Aal Mia that the parties, which are policies-in Elad e dominant States multinational companies - 11h00 Alba is paid to the involvement of developing countries in accepting pledges Azaanat and may cause more damage their economies and income the national balance of payments and therefore there was advice received Aha some members of the Iraqi delegation and former members of Test (once) in this regard that much awaited and carries Wa rest of the delegations agree on the basic principles and broad lines before delving into the facts and vocabulary dialogue because there fishing any mistake had taken recognition and binding pledge. بل الطريف في الامر أن النقاش الذي حصل بشأن اعتماد العراق المزعوم لنسبة الخمسة بالمئة كتعرفة كمرك ية حملت أحد المشاركين الاوربيين- وهو من ايطاليا ليهمس لأعضاء الوفد العراقي بأن اعتماد هذه النسب ة غير المنصفة اطلاقاً يعدّ جريمة بحق الاقتصاد ال عراقي ومصالح العراقيين.But Interestingly, the discussion that took place on the adoption Iraq alleged to five percentage% Ktarafh Customs Yeh has one of the participants - the Europeans from Italy the whispers of the members of the Iraqi delegation that the adoption of these percentages e unfair way is a crime against the economy Iraqi and interests of the Iraqis.
نعود ثانية لنتساءل عن جدوى انتمائنا لمنظمة التج ارة العالمية اذا كنا سنرهن مقدراتنا الوطنية ونم حو تجربتنا الانتاجية في شتى حقولها وقطاعاتها ون حول العراق كما يبدو الى ساحة للآكلين والمستهلكي ن حسب ، لتتجسد هنا من جديد صرخات المنبهين من آفاق سياسات العولمة التي تقود اليها قسرا كما يبدو منظمة التج ارة العالمية وتوجهاتها مسبقة القصد لفرض مصالح ا لقوى الكبرى المتنفذة.Second, we wonder about the usefulness of belonging to the Organization Altj Are the world if we Snerhn our capabilities national Onam regarding our productivity in various fields and sectors Wan Iraq also appears on the scene and ?lkin Amesthlki according n, to materialize here again cries sobering prospects policies globalization, which leads to forced, it seems the Altj Are the world and its prior intent to impose the interests of a major influential powers.
وبغض النظر عن التنظيرات وتحذيراتها المسبقة فان نا نتأمل بمفاوض عراقي يستلهم الواقع المزري للاق تصاد العراقي والشلل المهيمن على كل مواقع انتاجه وحلقات فاعليته وصولا الى انتهاج موضوعي وبناء لل برامج الكفيلة بتحقيق متطلبات استئناف نهج البنا ء والنماء الكفيل باحقاق مصالح العراق والعراقيي ن، اما طريق التواصل مع أي من التشكيلات الدولية القا ئمة وبغض النظر عن آيديولوجياتها سواء كانت منظمة التجارة العالمية أوصندوق النقد الدولي او البنك الدولي للانشاء والتعمير، فان التعاطي مع كل هؤلاء لابدّ من أن يتأتى من خلال م قدار المصلحة الحقيقية المتأتية من أي تداول مع أي من هذه الأطراف.Regardless of the warnings prior Altnazirat and the Na think negotiator Iraqi inspired sombre reality of Lag caught Iraqi and paralysis dominates all production sites workshops and effective way to a substantive and constructive t programs to achieve the requirements of a resumption of Banna automatic and development can maintain the interests of Iraq and of Iraqi n, either way of communicating with any of the international organizations Aka Emah, regardless of ideology, whether organized WTO Ausundoq IMF or the World Bank for Reconstruction and Development, the deal with all of these would have to come through M. Kadar real interest from any circulation with any one of those parties.

Translated version of http://www.uruklink.net/

Hi Everyone ! Here is some info that I received in one of my updates from the " Daily Reckoning ". This is in regards to the IMF & Gold.

Here is the info:

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The Daily Reckoning PRESENTS: A blue-ribbon panel recently advised the IMF
to sell gold as a way of trying to clean up its finances. The news
initially spooked some weaker holders and hedge fund managers, most of
whom are clueless about the overarching trends driving gold. However, as
Doug Hornig asserts that the proposed IMF sales represent much ado about
nothing... other than perhaps creating a buying opportunity, that is...

ABOUT THOSE PROPOSED IMF GOLD SALES
by Doug Hornig

Lately the metals markets have been abuzz with speculation about the
meaning, and implications, of proposed gold sales by the International
Monetary Fund (IMF). It's a subject about which many of our readers are
probably concerned, so we decided to take a look.

This potential development came about because the IMF finds itself on
shaky financial ground. It is facing a shortfall of about $105 million
this fiscal year (ending April 30, 2007), a deficit which is projected to
balloon to $185 million in 2008 and $244 million by '09.

There are any number of reasons advanced for this deteriorating balance
sheet, the most common one being that many formerly cash-strapped Third
World countries are experiencing enough prosperity to make early repayment
of loans-Indonesia, Serbia, Uruguay and Ecuador are among those doing so
this year-thereby cutting down on the interest income the IMF relies upon
to cover operating expenses.

Though that may be a central part of the problem, the IMF should take a
long look at its own bloat as well. In the past ten years, its annual
budget has doubled to nearly $1 billion. As Devesh Kapur, an economist at
the University of Pennsylvania, puts it, "Costs at the fund have been
allowed to get out of control. It now has a bigger staff and budget than
its role justifies."

Be that as it may, IMF officials determined that sources of revenue other
than lending income needed to be developed. And thus the Committee to
Study Sustainable Long-Term Financing was convened last May by IMF Chief
Rodrigo Rato. Also known as the Crockett Committee-after Chairman Andrew
Crockett, former director of the Bank for International Settlements and
now President of JPMorgan Chase-it consisted of a small group of eight
"eminent persons," namely: Crockett; former Fed Chair Alan Greenspan;
Mohamed el-Erian, CEO of Harvard Management Co.; Tito Mboweni, governor of
the South African Reserve Bank; Guillermo Ortiz, governor of the Bank of
Mexico; Hamad al-Sayari, governor of the Saudi Monetary Agency;
Jean-Claude Trichet, president of the European Central Bank; and Zhou
Xiaochuan, governor of the People's Bank of China. The committee released
its report on January 31 of this year.

During the press briefing that followed, Crockett said that the committee
favored the "creation of an endowment-were it to be possible-that would
provide income that could be relied upon over a period of time without
having to ask members."

The "more attractive source" for this "is to use the fund's resources of
gold, and so the report does suggest that it would be appropriate and
possible to [...] sell a part of the fund's gold holdings, and to devote
the resources obtained from that to the creation of an endowment."

The sale could be as much as 400 metric tons (12.9 million ounces), which,
valuing the metal at a conservative $500/ounce (the past two years'
average), would net the IMF a minimum of $6.6 billion. That amount,
invested, would be expected to generate $195 million in annual income. Of
course, if current prices hold for the duration of the sales period, those
numbers would be substantially higher.

Crockett noted that the 400-ton figure corresponds to IMF gold that was
sold and repurchased in an off-market transaction about 6 years ago. It is
about 12.5% of the Fund's total holdings.

The Committee, whose recommendations have been referred to the IMF's
executive committee for debate, took care to emphasize that the proposed
sales should be "ring-fenced [...] to limit their market impacts."
(Longtime Fed watchers chuckled at the wording, noting that such phrases
are a dead giveaway of Greenspan participation.) To this end, Crockett
promised the following safeguards:

"In the first instance, the amount should be limited to the 400 tonnes I
mentioned without envisaging any additional sales.

"Secondly, the sales should take place within the existing Central Bank
Gold Agreement [CBGA], that is to say it would not be additional to sales
already programmed by central banks, but would be accommodated by
reductions in the amounts of gold that central banks might sell under the
[CBGA].

"And thirdly, we have emphasized that the sale should be undertaken in a
very careful way in terms of their periodicity amounts and manner of sale
such as not to disturb the market."

The CBGA limits signatory central banks (all of the major ones, excluding
only the U.S.) to sales of 500 tons/year. In 2006, however, the banks
released only about 350 tons. Thus, the IMF committee appears to be saying
that it proposes taking up whatever slack exists this year, while not
allowing its sales to push the amount of new gold coming to market over
the pre-set 500-ton limit.

It is important to remember a couple of things here.

First, it's not the IMF's gold. The metal belongs to the depositor
nations, the largest of which is the U.S. We the taxpayers own that gold,
and thus have a very real interest in what happens to it.

Second, the IMF is prohibited from trading in gold. Its bylaws state that
it does not "have the authority to buy gold," nor may it "engage in any
other gold transactions-such as loans, leases, swaps, or use of gold as
collateral."

What it can do is "accept gold in the discharge of a member's obligations"
and "sell gold outright," but the latter requires "an 85% majority of
total voting power." Since the U.S. controls about 17% of voting power, it
can't by itself make a deal happen. But it has the absolute authority to
block one.

The Crockett Committee report is not the first time the notion of IMF gold
sales has been floated. It's an idea that has cropped up repeatedly in the
past but has always failed, either because of American opposition or
because of opposition among the more general membership, which includes
many gold-producing nations that have an interest in keeping a floor under
prices.

What will be the U.S. position this time around? We'll have to wait and
see, but if the past is prologue, there will be stiff opposition. The
final decision on whether to veto or not rests with Congress, where
Democrats in the past have fought IMF gold sales on the grounds that they
would hurt impoverished nations. Sen. Harry Reid voted against them as
minority whip, and might be expected to be consistent now that he's
majority leader. Or perhaps not, depending on which way present political
winds are blowing.

While the IMF's announced motive seems to make fiscal sense-provided one
accepts that it has any need to be as big and meddlesome as it is-gold
bugs immediately began looking for the story behind the story.

If the Gold Anti-Trust Action Committee (GATA) is correct in their
contention that the American government has acted deliberately, in concert
with the major central banks, to suppress the price of gold in order to
mask the dollar's inherent weakness (an effort in which Mr. Greenspan is
alleged to have been a willing participant), then the IMF proposal plays
right into such a conspiracy. Its hidden meaning could be that the IMF
must help out with gold sales, because the CBGA signatories have become
reluctant to part with enough of their reserves to keep a lid on prices
and, in fact, may be pleased with the appreciation of their assets. Yearly
sales boosted to the full 500 tons, thanks to IMF participation, should
contribute to further price suppression. It'd be no great shocker if the
IMF were doing the U.S.' bidding.

In addition, it's possible that some depositors, holding dollars and
nervous about their decline, are making noise about getting their gold
back. Propping up the buck through gold sales could be viewed as an aid to
easing their fears.

Then there's the China factor. Analyst Michael Kosares, writing on
USAgold.com, says that, "There is no doubt in my mind that China would
like to see the IMF sell all its 3,217 tonnes of gold, particularly if
China might become a primary recipient. Without any fanfare China would
happily write the check for all 3,217 tonnes. Otherwise, I can't imagine
why the Chinese central bank might have been included on this IMF
committee, unless it was to demonstrate that the system is at least trying
to get them some gold."

Whatever the case, our readers are apt to be most interested in what
happens next. Not an easy call, given that neither the IMF nor the
international gold trade are particularly transparent.

Many analysts, though, feel that the proposal will never fly. For example,
Julian Phillips of GoldForecaster.com writes: "Should the member nations
of the IMF find themselves in disagreement with a decision of the IMF to
sell their gold, the possibility of this gold being returned to them is
there. But should this option be used, the damage to the IMF of such a
position [a minority objecting to the majority] would produce disunity in
the global monetary system, which could prove extremely disruptive. [I]
expect that the mere possibility of such a disruption, of itself, would
persuade the majority not to sell any gold, but at best to revalue it."

Even if a sale does come about, will it matter?

Many feel that the IMF's actions are not liable to have much impact on
gold, arguing that the distortions of the CBGA, even at maximum 500-ton
strength, have already been fully factored into the current price and its
trend line.

This is not to say that there couldn't be a short-term downdraught. Sure
there could be, especially as the IMF sales are formally announced. Some
holders of gold, maybe a significant number, can be expected to sell into
the news.

But with countries such as China, Russia and the nations of the Middle
East itching to add to their reserves, even a large dump of physical metal
onto the market is certain to be absorbed in short order.

Nor will countries be the only buyers. Beverly Hills investments manager
Kenneth Gerbino wrote in 2005 about a similar IMF sales speculation,
saying that any additional supply "would surely be snapped up by the
bullion banks and mining companies that are 'short' somewhere between
10,000 and 12,000 tonnes, according to some very savvy analysts." There's
no reason to think that's changed much in the interim.

Gerbino could have been writing about the IMF when he concluded, "Central
bankers will most likely continue, as usual, to scare the price of gold
down from time to time by statements of gold sales. But they are all too
keenly aware of the growing number of people who realize that the gold,
not paper and ink, is the real stable monetary element."

Finally, it is important to keep the relatively miniscule amount of gold
sales we are talking about in perspective. In an era where over $1
trillion in derivatives trade globally each day, $6.6 billion in sales is
just not that much money when compared to potential investor demand once
the U.S. dollar goes into the free fall that Doug Casey, among others, now
believe is imminent.

In other words, if IMF sales do happen, and if they depress gold's price,
that's a buying opportunity... for bullion and especially for the
high-quality junior exploration stocks that pack the most punch in a
rising gold market.

Regards,

Doug Hornig
for The Daily Reckoning

Editor's Note: Doug Hornig is a senior editor for Casey Research,
publishers of Doug Casey's International Speculator... for over 27 years
providing investors with unbiased and carefully researched recommendations
for high-quality gold and other natural resource stocks with the very real
opportunity for a 100% or better gain within a 12-month horizon. Hornig
also writes the Daily Resource, a daily column that appears on the
KitcoCasey and CaseyResearch.com web sites.

To learn more about International Speculator, see here:

Most Investors Are Clueless About Gold!
http://www.caseyresearch.com/crpmkt/...=DRK031ED0207B



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Now, I hope this has something to do with our dinars and a high reval when the time comes. Can someone please explain what this all means ?

Thanks