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

Originally Posted by The_Mad_Scot

USDIQD=X 1 Feb 16 1,283.8 1,283.8 1,283.8 1,288.8

1.287524 USD = .98 EUR TODAY
re: US Dollar Index - Real-Time Currency Trading Charts from FXTRek for Forex Trading

Originally Posted by Par77

The two leaders also talked about the budget that was just passed by the Iraqi parliament, and in particular, the importance of executing the $10 billion that had been set aside for capital and infrastructure expenditures, and to make sure that they're also allocated equitably around the country.

At 1260 that amount alone is 12,600,000,000,000 (12.6 trillion!). The stated budget rate is bogus.

Bank urges Islamic country ahead of competition coming from abroad

Baghdad-Sabah
The whole head and members of the board of directors of the Bank of the country, Islam j noted that the banking sector in Iraq needs to be reformed and rehabilitation. The promise of a special law the Central Bank and other Bal banks and private banks subject to the instructions sectoral of the Central Bank right step Pa to achieve the goal of development.

He said board member and managing director of the bank, told High ( morning) : But these actions came by the Ministry of Finance hoarse since the ministries dealings with the bank, Rafidain and Rashid other banks, governmental and violation of the law that does not costing hinder the development of private banks and limiting the NchatahaHe added that the lack of a financial policy with the policy of economic calls for the establishment of an institutional body to be responsible the Department of the economic process in a scientific and modern e. .He said : The procedures Central Bank to raise interest rates to 20 % will contribute to increasing inflation, at a time when providing investment environment contribute to attracting capital the funds.

He wondered about the fate of the economist law Alastthma R. approved by the House of Representatives after amendments But it has not been published in the Official Gazette in order to be effective. force.

He pointed out that there is a need to provide security investment climate This helps to lure investors to bring in funds pw refined to be invested and this requires the creation of requirements Alerah e investors from hotels, tourism and banks able to rate and Il projects to be implemented but remained the need to s Unwin system or facilitate the process of financing the amounts and stop quickly allegiance high. However, the state relies on a single bank is the (TBI) Otv Ti credits to him.

The economic expert warned that Iraq is on the verge of father empowered to the World Trade Organization that conditions shelf p restrictions on the entry and exit of capital Most laws at odds with this procedure. And he reiterated : The banking sector is still very tired because of Toe drain fled bank which left the country to escape a the conditions experienced by the country as well as by States pain Jaurh provide attractive salaries to attract, He stressed the need to create banks to face the future x thieves investment and must give them the opportunity to Tto R. and involvement in many of the courses in Dah l Iraq. He said : The Bank of the Islamic country is now undertaking Bedouins R. large numbers of personnel in the field of scientific capable Might j cope with the challenges of the coming competition.

Member of the Board of Directors Director High said : also Bank country Islamic banking institution Iraqi e works in accordance with the provisions of Islamic Sharia has been sucking a shelf made tremendous progress in all areas of banking and followed a unauthorized systems and the methods applied art world banks Oh. He added : strive to be the leading Islamic banks in the region Yassin the issues are economic and social development in a the markets in which it operates. As well as the capabilities of human development, He pointed out that most of the world believes in Iraq province great for development and business development. He emphasized that a working group comprising Bank of skilled people in pain disbursement and commercial banking experience using a according to the universality of sophisticated techniques, In regard to the future vision, he said : we seek to occupy the leading position, such as the Islamic world board G provides the best products and services and maintains ties Sitra Tejeh for excellence in the field of banking competition Islamic.

He added that the bank's capital talk of incorporation of 25 millisecond Ardinar Iraqi distributed over 25 billion shares, the value of shares per One dinar, The nominal capital of 50 billion Iraqi dinars, as one of the leading financial institutions that are keen to j that played an important and effective role in the advancement of the national economy Iraqi through funding for the projects development. He pointed out that the bank is providing banking services e different current accounts, savings accounts, admission investment deposits and savings and the opening of Ala Tmadat credits and the sale and purchase of currency and the issuance error now security, local and foreign remittances and the Visa Card soon She oversees the work of the bank oversight body legitimacy. He concluded economic expert to say : The banking sector in Iraq, both in the government and it private banks need to rehabilitate and develop and support from Qubb told the government to make it able to compete next Qubb for foreign banks that are willing to enter investment d Iraq breached if the security conditions and the availability of starting a heavy T. ages.

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

Cheers!
DayDream

Originally Posted by DayDream

He said : The procedures Central Bank to raise interest rates to
20% will contribute to increasing inflation, at a time when providing investment environment contribute to attracting capital the funds.

Do you hear that Shabibi? Our very own Jimmy Carter gave us 21.5% interest rates which in turn gave us 12.5% inflation per year.

You are not going to bring down 56-70% inflation with interest rates that are at inflationary levels themselves. Revalue your currency. You said it was an option for you, it's time to exercise that option. Man, how dumb can one Phd be?

Originally Posted by shotgunsusie

we are all in this together even the negative ones. thats why youve got to get an armadillo skin on and say something coz there is someone out there who is going to benefit from the good news. its all about treating others how you want to be treated. if no one shared this information with me then i wouldnt have shared it with everyone and there could have been someone out there prepared to sell their dinar at the last minute for lack of patience who really needs the money.

what i cant understand is why we cant walk hand in hand together and share what we have with each other as we are all in the same boat here.

Thank you kindly SGS. I am one of those that really appreciates the info, for better or worse. Why come here otherwise? I have a feeling we're close......but feelings are just that.

so if they did reval already and there will be an announcement will it be tommorow afternoon,night? just wondering

Rice makes surprise visit to Iraq
By ANNE GEARAN AP Diplomatic Writer
This is a Quark CopyDesk document.
BAGHDAD, Iraq (AP) - Secretary of State Condoleezza Rice met with Iraqi leaders Saturday on an unannounced visit and said a new security crackdown in a capital weary of violence may provide an incentive for political progress.

The coordinated U.S.-Iraq sweep against militant factions is bringing ``a new hope and a new optimism'' to Baghdad, said Rice, the highest-ranking American official to visit Iraq since the campaign was announced last month.

But, she added, it was too soon to know whether the operation would work. She did praise the Baghdad government for ably promoting the crackdown to the Iraqi people and said Iraqi forces seem to be participating in adequate numbers.

In the region for a previously scheduled trip to see Israeli and Palestinian leaders, the Bush administration's chief diplomat acknowledged concerns at home about efforts to bring democracy to post-Saddam Hussein Iraq.

The U.S. House of Representatives on Friday delivered a symbolic blow to President Bush's strategy to turn around an unpopular war and the U.S. Senate planned a rare Saturday session to consider his troop buildup.

``Some of the debate in Washington is in fact indicative of the concerns that some of the American people have for the prospects of success if the Iraqi government doesn't do what it has said it will do,'' Rice told reporters after meeting with Iraqi Prime Minister Nouri al-Maliki and others in his government.

In meetings with Iraq's fragile and often divided U.S.-backed government, Rice stressed the need for political and economic progress alongside security gains.

Rice said she hopes the security sweep ``may have now a little bit of a spur to some other things as well.''

The U.S. has urged the government to move more quickly on benchmarks such as a national law governing the distribution of oil wealth. Iraqi leaders informed her that the oil deal was almost done, but Rice later told reporters she has heard that before. The secretary said she made clear to Iraqi officials that she hopes this time it is for real. (She is about as fed up as we all are)

``The oil law is a proxy for something much larger,'' Rice said. R/V

Initial reports had placed the Iraqi participation at 45 percent to 55 percent of full troop strength in the crackdown. Rice said there were technical explanations for some Iraqi absences and that commanders have told her that Iraqi participation is now as high as 90 percent.

She also said the government is meeting a test she had set for its commitment to the plan by ensuring that the rules of engagement for the joint forces are equitable and nonsectarian.

Iraq has missed its own target dates for making crucial trust-building measures, such as laws establishing provincial elections, equitably distributing the country's oil wealth and reversing prohibitions on government participation by many Sunnis because of membership in Saddam's Baath party.

Rice's visit was intended as a firsthand look at the efforts to clamp down on the violent reprisals between Sunnis and Shiites. The attacks have seized Baghdad and contributed to the exodus of an estimated 3.8 million Iraqis from their homes.

Insurgent violence remains a concern. Rice's plane circled the airport for 30 minutes before landing because of military action in the city.

``If in fact militias decide to stand down and stop killing innocent Iraqis ... that can't be a bad thing,'' Rice told reporters traveling with her. ``But how the Iraqis use the breathing space that that might provide is what's really important.''

Rice also spoke with American troops and U.S. embassy workers, telling them their work was worthwhile in helping Iraq and securing the safety of the United States.

``When you see Iraqis toiling and squabbling and struggling ... remember it's not easy to build a democracy,'' Rice said.

The security sweep appeared to get off to a good start. The number of Iraqi civilians killed in Baghdad's sectarian violence fell drastically Friday, and officials credited the security operation begun in force just days ago.

Ten bodies were reported by the morgue in the capital, compared with an average of 40 to 50 per day common in recent months.

New checkpoints have gone up around the city, creating long traffic jams as vehicles are searched. Iraqi tanks have pushed into areas where roaming gunmen and militant groups have ruled.

While the reduction in killings was a relief, U.S. officials sounded a note of caution. Maj. Gen. Joseph Fil, commander of U.S. forces in Baghdad, said militias and insurgents have apparently decided to lie low at least during these early days of the crackdown.

But in the northern Iraqi city of Kirkuk a suicide car bomber rammed into a crowded market on Saturday moments after a booby-trapped vehicle exploded, killing at least nine people and injuring 60, the police said.

Rice urges reconciliation on Baghdad trip

By Sue Pleming 2 hours, 26 minutes ago

BAGHDAD (Reuters) - U.S. Secretary of State
Condoleezza Rice told
Iraq's leaders on Saturday to use any lull in violence to push ahead with national reconciliation, adding that U.S. patience would not last forever.


Rice spoke in a surprise visit to Baghdad in which she lauded initial gains by U.S. and Iraqi troops in a military operation against militants seen as a final effort to quell sectarian bloodshed between majority Shi'ites and minority Sunni Arabs.

"This is a group of leaders that need to deliver," she said before meeting Iraqi leaders.

The top U.S. diplomat met Shi'ite Prime Minister Nuri al-Maliki, President Jalal Talabani, a Kurd, and Sunni Vice President Tareq al- Hashemi, and later told reporters she had urged them to speed up efforts toward reconciliation.

She also discussed finalizing an oil revenue sharing law and holding provincial elections.

"The United States is investing a great deal, most especially the lives of our men and women in uniform and the American people want to see results and aren't prepared to wait forever," Rice said before wrapping up a half-day visit.

"(But) we are not saying to the Iraqis get it done by X date or else," she told reporters.

While major car bombings and death squad killings in Baghdad have declined, a double car bombing on Saturday at a crowded market in the northern city of Kirkuk killed at least 10 people and wounded 60, police sources said.

Rice applauded the way in which the new military operation against militants in Baghdad had started. The sweep is intended to end the sectarian violence that is tearing the country apart.

"They are off to a good start," said Rice, referring to Operation Imposing Law. "How the Iraqis use the breathing space that might provide is what is really important."

A statement from Maliki's office said Rice praised the Baghdad security operation and renewed the Bush administration's backing for the government's efforts to stabilize the country.

Rice said Iraq's leaders told her they were making progress on the oil law and that it was nearly complete.

Establishing a law that equitably distributes revenues from Iraq's vast oil wealth is seen as a vital step in achieving reconciliation between warring factions.

The government has also held reconciliation conferences but there has been little progress on the ground, with Baghdad now increasingly split along sectarian lines.

Rice arrived in Baghdad a day after the U.S. House of Representatives denounced
President George W. Bush's decision to send 21,500 more troops to help with the Baghdad sweep and operations in violent Anbar province. The move was a symbolic challenge to Bush's unpopular war.

The Bush administration faces growing opposition at home over a four-year war that has killed more than 3,100 U.S. troops and tens of thousands of Iraqis.

Rice is heading to Jerusalem next. She is scheduled to meet Israeli Prime Minister Ehud Olmert and Palestinian President Mahmoud Abbas there on Monday.

MISSILES FOUND

U.S. and Iraqi forces sweeping through Baghdad have encountered little resistance.

Violence also ebbed during the early stages of previous, failed campaigns to bring calm to the capital and U.S. military officials have warned the current downturn in bloodshed may only be temporary while insurgents decide their next move.

Police said 11 bodies had been found on the streets of Baghdad on Friday, compared to the usual number of around 40-50 before the offensive began.

Brigadier Qassim Moussawi, a spokesman for the Iraqi general overseeing the Baghdad plan, said killings were down by 80 percent.

Moussawi also said Iraqi security forces found 50 surface- to-air missiles in a weapons cache near Baghdad.

The Russian-made missiles were still useable, he said.

Seven U.S. military and private security helicopters have been shot down in Iraq over the past month. The U.S. military said "sophisticated weaponry" was probably responsible for the downing of one but that machinegun fire accounted for the rest. (Additional reporting by Mussab Al-Khairalla)

TROOP SURGE..SENATE DEBATE
ON MSNBC it was announced that the Senate fell short of the needed votes to debate the Irag Resolution.
I am so happy to get some news! LOL

Originally Posted by Dinar Cha Ching

Do you hear that Shabibi? Our very own Jimmy Carter gave us 21.5% interest rates which in turn gave us 12.5% inflation per year.

You are not going to bring down 56-70% inflation with interest rates that are at inflationary levels themselves. Revalue your currency. You said it was an option for you, it's time to exercise that option. Man, how dumb can one Phd be?

Hello everyone. The increase in interest rates by the CBI is another tool of intervention to reduce inflation by a central bank. Increased interest rates decrease the flow of money into the economy and help to reduce the base money supply. Raising rates by the CBI, while not as dramatic as purchasing dinar and removing it from the economy, is still an effective intervention that has been used (by the Fed) to slow growth. By the way, Jimmy Carter did not give us high interest and inflation. It has been said that we never paid for the Vietnam War. We "montetarized" the debt buy "printing money". Of course, by the time the effects of so much money being printed were felt in the economy, it did "hit" during the Carter administration. We got away with it due to our expanding economy eventually "absorbing" the inflationary pressures of the expanded money supply base through a growth in US GNP. Thank You.