Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

FIRST IRAN-IRAQ TRADE COOPERATION COMMISSION MEET HELD IN TEHRAN--------------------------------------------------------------------------------

TEHRAN, 07 March 2007 (Asia Pulse)
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The first Iran-Iraq Trade Cooperation Commission meeting will be held in Tehran from March 6-7.

According to a report released by the Public Relations Department of the Ministry of Commerce, Iranian Commerce Minister Seyed Masoud Mir-Kazemi and Iraqi Trade Minister Abd al-Fallah Hassan al-Sudani will chair the two-day joint commission meeting on behalf of Iran and Iraq respectively.

Expansion of trade, investment, transport as well as banking and customs relations between the two sides will be high on the agenda of talks at the upcoming event.

FIRST IRAN-IRAQ TRADE COOPERATION COMMISSION MEET HELD IN TEHRAN | Iraq Updates

Well, it seems that the last year has been a waste of time holding dinar so I going to offload my whole stash cause the rates just going up, civil war, parlement being arrested, bombs still going off killing troops, it's all just pandamonium.NOT!! I'LL RIDE THIS TRAIN ALL THE WAY HOME TO THE STATION WERE IT'S HEADED AND CASH IN

If I don't see a r/v of at least .10 they will have to pry my dinar from my death grip! I love Roller Coasters and swinging from high places! They don't call me Spiderman for nothin!

WHAT'S UP HOT SAUCE!?

I wish we had the thank you button back I'm having withdralws so thank you everyone for posting this info on this thread. Heres to a RV soon !!

Originally Posted by Adster

Posted elsewhere from my pal Kev, speaks a lot of sense and for me too on this and other things. Got his permission to post it.


Ah, panic time! NOT. If I was Iraq and I wanted to remove more currency out of circulation from small speculators and a major increase in currency value was about to occur I'd probably make it look like it was going the other way because, guaranteed, a few people (maybe not most) would sell thinking this investment is a no-hoper!

As was explained to me this is a typical method of Arab business practice:

1. Make something look more valuable or begin increasing the value (happened with Dinar rise).
   
2. Follow it with lots of news that appears good but is misleading and conflicting (happened Nov/Dec/early Jan 2006).
3. Followed by a period of virtually no news and little movement to make people think nothing is going to happen (late Jan-mid Feb)
4. Good news, good news and more good news (happening).
5. Panic everybody into thinking the deal is not going through (happening).
6. Wham! Everything in place. Deal is done.

This usual Arab business philosophy was (genuinely, I'm not making this up) explained to me by someone who did some business contracts with Arabs....

Hang in there people!

This confirms my thoughts; this is almost a poker move, a bluff. Maybe to draw more currency from banks who in the past day or two indicated they were looking for a better rate. It was a pretty good amount pulled though not huge. I guess we will see what happens Sunday. But Panic? No way for sure, we have history and public comment on our side. However this is where the weak knees jump and i hope that does not pertain to anyone here.

March 07, 2007
Iraq Stock Exchange Index
Greg Richards
The Iraq Stock Exchange maintains a comprehensive index, the Iraq Stock Exchange Index (the ISX). Stock prices are dicey things, as we have seen on many world markets in the last week. Still, the ISX is one measure of confidence in the Iraqi economy, and given that we know the MSM is essentially rooting for the opposition in the Iraq War, it behooves us as citizens to be as comprehensive as we can be in assembling our own mosaic of what is going on in Iraq.

There is little doubt that we have made enormous mistakes there, but history shows that war is frequently a contest of wills as much as of capabilities and it shows numerous examples of nations that have made huge mistakes - far worse than ours - and still prevailed due to superior will. One thinks of the Russia in World War II as an example.

Are we winning or losing in Iraq? It is hard to tell. There are so many aspects to the war, not just geographically, but also socially and economically. But the ISX can tell us something about the economy.

The ISX was at 43 in January 2006. Between January and April 2006, it slid from 43 to 25, a big decline. Between April and December 2006, it essentially went sideways, fluctuating between 25 and 30.

Since early December, there has been a modest advance, from 25 in early December to 26 1/2 on March 5 (scroll to bottom). I said it was a modest advance! About 5%. So why is it significant? Well, it may not be, but it does cover the peirod of our new surge strategy and of the appointment of General Petraeus to lead our effort. There has been much naysaying in Washington about the pointlessness, indeed the cluelessness, of the surge strategy. But we are not seeing such a negative reaction in Iraq. If the surge strategy were seen there as a prelude to defeat and withdrawal, then it is highly unlikely that the ISX would have gone up during the last three months, even given the modest magnitude of the advance (keep in mind that the ISX is still down year-to-year; it is up over the last three months).

I have already mentioned previously the remarkable 15% surge we have seen in the value of the Iraqi dinar over the last three months, which continues through yesterday (March 5, 2007). This also appears to suggest confidence in both economic activity and in the future of the country.
So the news - the actual facts - are not all bad. The point of knowing this is so that we as citizens remain informed as to the actual state of affairs in Iraq and don't panic based on true, but partial, negative news from the front.

Number of banks 11 -----
Auction price selling dinar / US $ 1279 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 54.145.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 54.145.000 -----
Total offers for selling (US $) ----- -----


Gooooooooooooood Morning RolClub


"The More They Take, The More We Make".

An increase in the exchange rate. Now that was unexpected. We have not seen an increase in the daily rate since early to mid September last year. We'll see what the CBI is up to in the coming weeks. Maybe they have squeezed the dinar enough that they are harder to come by and yet the economy still demands that goods be paid for in dollars. At that point you could hold out selling your dollars for someone who was willing to pay a little more for them. Just a theory, but then again logic does not seem to play well in Iraq.


1. 1 Dinar rate change today, it was 1278, it is now 1279

2. A (net) worth of dinars, IQD - 69,251,455,000 pulled out of circulation on today. (3/08/07)

3. 11 banks participating today

4. 98th auction since the beginning of CBI's reval plan

5. 159 days into the CBI's reval plan.

6. 6,408,338,135,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 198 dinar change since Oct 1st (baseline was 1477) 13.405% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 1 point reduction in the rate so far this week. Was at 1280 at the end of last week, 1279 so far this week.

10. 1 point drop in the month of Mar. Ended at 1280 in Feb, now stands at 1279.
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.

The first political : the Minister of Finance : the budget this year will provide 636 job opportunities

BAGHDAD - Omar Abdel-Latif
Finance Minister announced a relief Zubaidi that the investment budget for 2007 will be (636) thousand jobs in the private and public sectors The result will diminish unemployment rates in Iraq.

He said during the conference, which was held yesterday, the ministry in collaboration with the Ministry of Planning and Development Cooperation on accelerating the implementation of the budget and investment projects for the year current and attended (morning) : The coming period will witness the creation of jobs, provision of electricity, fuel and services to citizens because of the advanced security plan that will be achieved by Baghdad (imposition law). He added that the implementation instructions Zubaidi federal budget for the current year authorized the ministers of finance, planning and development cooperation shifting allocations approved for projects in the budget 2007 that had not been implemented about 25% of the allocations during the first half of the fiscal year, except in areas that did not start the execution for imperative security reasons.

He pointed out that this resolution will make ministries and governorates make efforts to achieve delivery rates in the advanced projects during the period specified. From Meanwhile Deputy Prime Minister Barham Ahmed Salih, the past year witnessed a reluctance to carry out the projects due to the delay in the formation the government and the worsening security situation.

He stressed in his speech that he delivered at the conference will and determination of a Prime Minister Nuri al-Maliki on the implementation of the investment budget during this General is qualitatively different from past years, saying that the Cabinet had discussed within the contexts of its audit work and how investment coordination between ministries.

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Wall Street drools over prospect of capturing Iraq oil wealth | Iraq Updates

Wall Street drools over prospect of capturing Iraq oil wealth

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08 March 2007 (Bay Area Indymedia)
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The Iraqi cabinet’s adoption last week of a law creating the legal framework for turning over the country’s oil wealth to American corporations has touched off a chorus of salutes from the Bush administration, congressional Democrats and the corporate-controlled American media.

Perhaps the crassest expression of money-grubbing glee came in the Wall Street Journal, which published an article March 4 celebrating the unlocking of untold riches, including “dozens of untouched oil fields loaded with proven reserves and scores of exploration blocks that may prove a magnet to international oil companies.”

The draft law lists 51 oil fields, 27 in production and the balance with proven reserves, as well as 65 exploration blocks. The fallow fields and exploration blocks are located in every region of the country, while the working fields are concentrated in the northern region around Kirkuk and in the southern region near the border with Kuwait. Citing a cabinet document, the Journal reported that “Iraqi officials must first agree to the framework of contracts to be used when negotiating with foreign oil companies by March 15 if the country’s draft hydrocarbons law is to be submitted to parliament for its approval.”

The draft law calls for reviewing and renegotiating contracts with Russian, French and Chinese oil producers, signed under Saddam Hussein. These countries, which initially opposed the US invasion, are expected to be cut out of any lucrative oil deals in favor of American and British companies.

The government of Prime Minister Nouri al-Maliki endorsed the draft law February 26, after months of bitter conflicts among the representatives of rival bourgeois factions within Iraq—Kurdish, Sunni and Shiite—over the terms of the deal. Approval is likely in the Iraqi parliament, although not certain, as news of the agreement is sure to provoke widespread popular outrage over the sell-off of the country’s most valuable resource.

The cabinet conflict revolved around two related issues: Kurdish determination to hold onto Kirkuk, a city of mixed Arab, Kurdish and Turkomen population that is the center of the northern branch of Iraq’s oil industry; and the Sunni demand for revenue-sharing at the national rather than regional level, since the proven oil reserves are largely in the Shiite and Kurdish populated areas, with relatively little in the central and western provinces where most Sunnis live.

Neither issue was completely settled, but the formula agreed upon under heavy pressure from outgoing US Ambassador Zalmay Khalilzad, who reportedly dictated the final terms, provides rather more concessions to the Sunnis, largely at the expense of the Kurds.

In public, the Bush administration and congressional leaders of both parties have cited the working out of inter-ethnic compromises as the main purpose of the oil legislation. In reality, however, the Bush administration sought an agreement on whatever terms it could impose, so that the Iraqi oil industry could be placed on legal foundations suitable for opening it up to foreign (and largely American) capital.

wall street caught up with the rest of us apparently!

SUZY ! I know you are holden out! Don't make me have to swing over there! I thought you were my RAH RAH Momma !?

Oh, can anyone tell me how to tell what the URL business is when I try to attach a picture?