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

BG Group declines comment on reported plan to invest in Iraq
Last Updated: 11-March-2007 15:15:08


Gas explorer BG Group PLC has stayed tight-lipped about a report claiming that it could become the first major Western energy company to invest in Iraq.

A BG spokesman declined to comment on a report in the Sunday Telegraph claiming that representatives from the British company recently visited northern Iraq in a move to assess the available opportunities.

"There are opportunities across the Middle East that BG will continue to monitor in the same way as it would opportunities across the world, but we're not going to comment on individual countries," the spokesman said.

Despite the ongoing hostilities, Iraq has long been on the radar of the world's oil and gas majors who are facing pressure to replenish their oil and gas reserves, the Telegraph said.

BG is believed to be interested in any opportunities for gas exploration and the Kurdish-controlled north, which has escaped much of the violence plaguing the area further south, is home to about a fifth of the country's total reserves, the newspaper said.

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Originally Posted by neno

This Article alone, has me personally puzzeled. Why? It is early for me here. I am dwelling on this as it is driving me this morning.

I hope others can relate to this better than I. But "25 Million Dinars", is that a loan of totall for the whole sector, or is that a loan per individual in the Agriculture Industry?

To me this is very important to dictate. This Article doesnt break it down clear enogh for me to decide. Ater reading more of the Articles here on like a Pack of Tobacca cost at least 2000 dinars, tells me that imported Goods are ajusted accordingly. And can very well be adjusted more as the value of the Dinar increases.

With 27 million people in Iraq, I would asume that their are alot of Agriculure people in this Industry. So lets say that that 25 million dinar loan is for each person in this Industusry. And at todays exchange value in Dollars is $0.000782 (1279). So A million dinars equalls $782.00 X 25 Million (Per Person or Total for the Industry) = $19,550.00

That is alot of money now for each person in this Industry, Or is it? I difinently know it is not for a total for all now. So if I am figuring it that way and these people get this that are in this Industry, we have to figure if that is a appropriate amount to succeed in Iraq's Agriculture Arena.

To me personaly, in the US minded cost, this wouldnt buy the fuel for the tractors to plow the fields. I am just trying to dictate that a exchange value of the dinar has to come. But it the loans were to be up to 25 million per citizen in this Industry, I can not see the exchange value at 1:1

Everyone would want to be a Farmer very quick. And also in the US, a farmer is one of the roughess and less rewarding feilds in the line of income. So with that thought, would to me also indicate that other Industries would be even more valuable in the value of dinars.

So what I am asking here is, is this a total value put to the Industry? I dont think so, I think it is to each citizen in the Industry. And if I am right, we want see a 1:1 exchange value. This is just what I am getting from this. That would make them each upto 25 Million Dollars.

I welcome any clarification to my thoughts.

Neno I was puzzled too when I first read this. After reading it a few times it didn't say up to 25M Dinar per farmer, it really is kinda in the grey. 25M per farmer would be a substantial amount given the Dinar R/V's at 1:1. however it would be a great amount if it was allocated to farming sectors/parcels.
Tractors, combines and other large farm equipment are not cheap though running as high as 600,000 or even 750,00 USD for a combine; don't forget seed, soil additives, fertilizer and the rest of it.
Like I said the article really leaves some grey areas out there that are prone to speculation and opinion.
But I am still looking for a high R/V. As I said in some of my previous posts--a low R/V would leave Iraq suseptable to large companies and investors to line their pockets with Iraq's wealth. High R/V retains more of Iraq's wealth for it's citizens
JMHO
GodBless

Originally Posted by shotgunsusie

and you gotta take into consideration that after the revalue they will adjust prices accordingly also. if youve noticed the monies theyve handed out so far arent being cashed out in any large quantities and we keep hearing news of iraqis hanging onto their dinar. i think they have promised these folks a large increase in their dinar value and thats why they are hanging onto it. why else would you continue to starve but for anticipation of better things coming shortly?

from the looks of things at this point i would say they might not do anything with the dinar until after that sba expires on the 22nd. sure i would love to be wrong but weve always known the potential for this thing not to be done UNTIL that sba was over anyway. i do think that march is our month however. it will be march madness indeed just having to wait!!

Good point...I've always believed that all amounts listed are subject to change with an RV.
Not sure March will be the actual month the RV will occur though...I'm more inclined to believe sometime after the first quarter. But I'm okay with being wrong!

Voices of Iraq: Iraq-Currency
كتب: saleem في يوم الأحد, 11 مارس, 2007 - 06:18 PM BT
Iraq-Currency
Demand for dollar down as new policy expected in Central Bank auction
By Dergham Mohamed Ali
Baghdad, March 11, (VOI) – Demand for the dollar was down in the Iraqi Central Bank’s daily auction on Sunday, reaching $45.395 million, compared with $54.145 million on Thursday, amid expectation of a new policy to sell dollars.
In its daily statement, the bank said it had covered all bids, which included $8.845 million in cash and $36.550 million in foreign transfers, at an exchange rate of 1,279 dinars per dollar, unchanged from Thursday.
None of the 10 banks that participated in Sunday's auction offered to sell dollars.

Abdul-Razzaq al-Abaiji, an economist, told VOI "the decline in today's demand for the dollar was due to the expectation that a new policy will be adopted by the Central Bank to raise the dollar exchange rate in upcoming sessions."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday

http://www.aswataliraq.info/modules...order=0&thold=0

Originally Posted by Adster

Voices of Iraq: Iraq-Currency
كتب: saleem في يوم الأحد, 11 مارس, 2007 - 06:18 PM BT
Iraq-Currency
Demand for dollar down as new policy expected in Central Bank auction
By Dergham Mohamed Ali
Baghdad, March 11, (VOI) – Demand for the dollar was down in the Iraqi Central Bank’s daily auction on Sunday, reaching $45.395 million, compared with $54.145 million on Thursday, amid expectation of a new policy to sell dollars.
In its daily statement, the bank said it had covered all bids, which included $8.845 million in cash and $36.550 million in foreign transfers, at an exchange rate of 1,279 dinars per dollar, unchanged from Thursday.
None of the 10 banks that participated in Sunday's auction offered to sell dollars.

Abdul-Razzaq al-Abaiji, an economist, told VOI "the decline in today's demand for the dollar was due to the expectation that a new policy will be adopted by the Central Bank to raise the dollar exchange rate in upcoming sessions."
The Iraqi Central Bank runs a daily auction from Sunday to Thursday

http://www.aswataliraq.info/modules...order=0&thold=0

NOW THAT'S WHAT I'M TALKIN ABOUT!!!!

Originally Posted by Lunar

Good point...I've always believed that all amounts listed are subject to change with an RV.
Not sure March will be the actual month the RV will occur though...I'm more inclined to believe sometime after the first quarter. But I'm okay with being wrong!

We are scared of what they say about millions here and millions there OF DINARS to people.

Let's take this example - the 25 million dinars per family for farms and such. That's $19531.25 at 1280. Are you telling me that that's huge money for them when their prices on the market are just as ours or higher??

Are you telling me that's a lot of money for farmers to get on their feet and start producing something?

This is a one time loan - to get them started. Keep also in mind that when we say " family" in Iraq, that's not the husband, the wife and two kids; it is the husband, a few wives and a bunch of kids. They have to eat, get dressed and so on. Actually I think $20,000 will not cut it for a lot of them.

However, let's see. An RV at 1: 1.
Guess what. The loan value will adjust. If now the 25 mills are worth almost $20,000, after reval, the loan will be 20,000 dinars ( 1:1) - worth $20,000 . That simple. JMO

Originally Posted by Jola

We are scared of what they say about millions here and millions there OF DINARS to people.

Let's take this example - the 25 million dinars per family for farms and such. That's $19531.25 at 1280. Are you telling me that that's huge money for them when their prices on the market are just as ours or higher??

Are you telling me that's a lot of money for farmers to get on their feet and start producing something?

This is a one time loan - to get them started. Keep also in mind that when we say " family" in Iraq, that's not the husband, the wife and two kids; it is the husband, a few wives and a bunch of kids. They have to eat, get dressed and so on. Actually I think $20,000 will not cut it for a lot of them.

However, let's see. An RV at 1: 1.
Guess what. The loan value will adjust. If now the 25 mills are worth almost $20,000, after reval, the loan will be 20,000 dinars ( 1:1) - worth $20,000 . That simple. JMO

Great insight!

...And WHY IS THE CBI WEBSITE DOWN???

........cause they need to upload the small denom pics?

.and tell us more about the new CBI policy ?

Well guys, even the naysayers will have trouble here! No disputing the timing, plane load of dinars, lower denoms maybe......IMF meeting tomorrow/Tuesday, IC Friday, SBA to hopefully expire on 22/3 and Oil Summit next month. Not forgetting the FIL to be enacted next month. CBI site is down to.

Cha ching anyone?

Cccchhhhhaaaaa----ching