Thread: Iraq/Dinar News up until March 28th 8PM CT.

McCain: Progress is being made in Iraq
By DAVID ESPO

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28 March 2007 (Associated Press)
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Republican presidential contender John McCain said Tuesday, "we are starting to turn things around" in the Iraq war, as he broke off campaigning in Florida to vote against a proposed troop withdrawal timeline.

In a speech on the Senate floor, the Arizona Republican said President Bush's decision to dispatch additional troops last winter "is working far better than even the most optimistic supporter had predicted. Progress is tangible in many key areas despite the fact that only 40 percent of the planned forces are in Iraq," he added.

McCain spoke on a day in which two nearly simultaneous attacks outside Baghdad killed at least 48 Iraqis, and he said he did not want to paint an overly optimistic picture. He added, "I have been critical of the conduct of this war since 2003, and very much regret that only now, four years into the conflict, are we beginning to implement the kind of strategy that was necessary from the start."

Aides said it was the first time he had systematically addressed recent events in Iraq, and he had decided to do so on the Senate floor in the run-up to a pivotal vote.

The assessment also came at a politically pivotal time, as McCain, once the presumed Republican front-runner, attempts to halt a reversal in the polls that has jolted his presidential hopes.

A heavy majority of Americans opposes the war in Iraq and doesn't approve of Bush's handling of the conflict. Yet the most ardent Republicans still approve it, and the presidential rivals are vying for the support of hard-core GOP voters.

"What we cannot do, and for the sake of America's vital national security interests, we must not do, is give up just at the moment we are starting to turn things around in Iraq," McCain said.

Using a color-coded map of Iraq as a prop, McCain said Iraqi army battalions have arrived for duty as called for, many at or above 75 percent of their programmed levels, bomb attacks and murders are down since the new policy was implemented and the number of civilians killed in Baghdad dropped from 1,222 in December to 494 in February.

He said U.S. forces have moved out of large bases to take up positions in small outposts as part of a shift in strategy. "Contrary to predictions, this has not increased U.S. casualties. And, not surprisingly, our presence has resulted in a dramatic increase in actionable intelligence about terrorists," he said.

McCain said the debate in the Senate had an Alice in Wonderland quality to it, with critics of the war attempting to "micromanage a conflict based on what the conditions were three months ago — not what the reality is today."

The day's events marked the first time McCain has broken off campaigning to cast a Senate vote on the war. He attended a Florida fundraiser earlier in the day, and arranged to return to the state for the evening.

Iraq Updates, News Service

Originally Posted by Maddawg

I'm thinking the same thing. There seems to be a Smell in the Air. Is that FRESH IRAQI OIL I smell?

That and a boot print on someone's butt!...lmao

CWC are pleased to announce the dates for the

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26th - 27th June 2007







A new legal regime is emerging in Iraq that it is hoped will create the right conditions for a major influx of foreign investment into the country.



Click here for the official Brochure


The passage of a new foreign investment law will give Iraqis and foreign investors equal shares in investment projects and allow investors to move money in and out of the country relatively unhindered. Meanwhile, a new hydrocarbon law is eagerly awaited by investors keen to play a part in the nation’s oil sector.

Iraq 2007 will bring industry, commerce and government together to find ways to develop, cement and enhance commercial activity in a country that is overflowing with trade and investment opportunities - not just in the oil sector, but also in construction, power, finance and telecoms.



Distinguished Speakers include:

Senior Delegation from the Iraq Ministry of Finance
H.E. Fawzi Hariri, Minister of Industry and Minerals
H.E. Dr. Sinan Al Shabibi, Governor, Central Bank of Iraq
H.E. Dr. Salah Al-Shaikhly, Ambassador of Iraq to the United Kingdom
H.E. Hussain Al Uzri, Chairman, Trade Bank Of Iraq
Dr. Thair Al-Faili, Senior Deputy Minister, Construction and Housing





Designed and researched for private sector investors, donors and other lenders and institutions, this two-day international event is the official conference for the investment community in Iraq and takes place under the auspices of the Ministry of Finance and with the official support of the Trade Bank of Iraq, Central Bank of Iraq and the Ministry of Industry and Minerals.








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Media Partners

Governor of the Central Bank denies IMF intervention in the formulation of monetary p
Mahaft denied the Iraqi Central Bank Sinan Shabibi be tight monetary policy, pursued by <Central>, as a result of pressure by the Fund

.IMF, pointing out that the policy falls within the framework of the central monetary reforms currently taking place in Iraq.

He explained that the policy of the Central Shabibi adopted as a result of the hard conditions experienced by the Iraqi economy, and the hyper-inflation causes substantial damage to the economy, the monetary impact on the value of the contracts, withdraw negatively on the estimates relating to the budget.

He pointed out that the policy <Central> aimed at achieving price stability, using monetary tools, The lifting of the dinar rate of exchange against foreign currencies, raising interest rates, which would lead to a reasonable indicators of inflation, which has become a threat to the country's economy and development.

.Linking Shabibi success of this policy stability extent to which the consumer price through liquidity management.

.He praised the state balancing of the current year, in terms of allocation and disbursement and the dimensions of development and investment, warned at the same time of economic imbalances that accompany a spending budget.

Shabibi called to the need for a mechanism to monitor the implementation of the budget, in particular the investment side of it, pointing out the need for the ministries financial ceiling allotted in the budget.

In the area of economic reforms, called Shabibi to activate the productive sectors and increase their growth rates, to meet local market demand, provided that it does not result in an imbalance in the economy.

Number of banks 11 -----
Auction price selling dinar / US $ 1273 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 33.045.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 33.045.000 -----
Total offers for selling (US $) ----- -----


Gooooooooooooood Morning RolClub


"The More They Take, The More We Make"


!. "This morning my toe was as big as my face, so I put some Windex on it." (What movie) (No correct answers yet)

2. "You had two pairs of gloves all this time"? "Yeah ----, we're in the Rockies" What movie


When we get to 1270 we will have passed the 14% mark in the increase in the value of the dinar since the CBI started their overt increase in the exchange rate of the dinar to the dollar. 14% in and of itself is not really significant, it is just another milestone in the journey we are all on. My friends keep telling me we are in the "fourth quarter", I just want to know if we're in the "two minute drill". I am looking forward to sometime before mid April. If it goes pass that, then I don't expect anything until mid summer. Hope all is well with everyone. See you tomorrow for the last auction of this week and this month.


1. "1" Dinar rate change today, it was 1274, it is now 1273

2. A (net) worth of dinars, IQD - 42,066,285,000 pulled out of circulation today 3/28/07.

3. 11 banks participating today

4. 111th auction since the beginning of CBI's reval plan

5. 179 days into the CBI's reval plan.

6. 7,455,240,871,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 204 dinar change since Oct 1st (baseline was 1477) 13.811% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 4 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1273 so far this week.

10. 7 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1273
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.

Originally Posted by Socata 850

Number of banks 11 -----
Auction price selling dinar / US $ 1273 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 33.045.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 33.045.000 -----
Total offers for selling (US $) ----- -----


Gooooooooooooood Morning RolClub


"The More They Take, The More We Make"


!. "This morning my toe was as big as my face, so I put some Windex on it." (What movie) (No correct answers yet)

2. "You had two pairs of gloves all this time"? "Yeah ----, we're in the Rockies" What movie

When we get to 1270 we will have passed the 14% mark in the increase in the value of the dinar since the CBI started their overt increase in the exchange rate of the dinar to the dollar. 14% in and of itself is not really significant, it is just another milestone in the journey we are all on. My friends keep telling me we are in the "fourth quarter", I just want to know if we're in the "two minute drill". I am looking forward to sometime before mid April. If it goes pass that, then I don't expect anything until mid summer. Hope all is well with everyone. See you tomorrow for the last auction of this week and this month.


1. "1" Dinar rate change today, it was 1274, it is now 1273

2. A (net) worth of dinars, IQD - 42,066,285,000 pulled out of circulation today 3/28/07.

3. 11 banks participating today

4. 111th auction since the beginning of CBI's reval plan

5. 179 days into the CBI's reval plan.

6. 7,455,240,871,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 204 dinar change since Oct 1st (baseline was 1477) 13.811% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 4 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1273 so far this week.

10. 7 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1273
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.

"Dumb and Dumber" my husband and sons love this movie!

Thanks for all your input!

Originally Posted by Socata 850

Number of banks 11 -----
Auction price selling dinar / US $ 1273 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 33.045.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 33.045.000 -----
Total offers for selling (US $) ----- -----


Gooooooooooooood Morning RolClub


"The More They Take, The More We Make"


!. "This morning my toe was as big as my face, so I put some Windex on it." (What movie) (No correct answers yet)

2. "You had two pairs of gloves all this time"? "Yeah ----, we're in the Rockies" What movie


When we get to 1270 we will have passed the 14% mark in the increase in the value of the dinar since the CBI started their overt increase in the exchange rate of the dinar to the dollar. 14% in and of itself is not really significant, it is just another milestone in the journey we are all on. My friends keep telling me we are in the "fourth quarter", I just want to know if we're in the "two minute drill". I am looking forward to sometime before mid April. If it goes pass that, then I don't expect anything until mid summer. Hope all is well with everyone. See you tomorrow for the last auction of this week and this month.


1. "1" Dinar rate change today, it was 1274, it is now 1273

2. A (net) worth of dinars, IQD - 42,066,285,000 pulled out of circulation today 3/28/07.

3. 11 banks participating today

4. 111th auction since the beginning of CBI's reval plan

5. 179 days into the CBI's reval plan.

6. 7,455,240,871,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 204 dinar change since Oct 1st (baseline was 1477) 13.811% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 4 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1273 so far this week.

10. 7 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1273
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.

I gave you the correct answer yesterday..."My Big Fat Greek Wedding"

Originally Posted by Socata 850

Number of banks 11 -----
Auction price selling dinar / US $ 1273 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 33.045.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 33.045.000 -----
Total offers for selling (US $) ----- -----


Gooooooooooooood Morning RolClub


"The More They Take, The More We Make"


!. "This morning my toe was as big as my face, so I put some Windex on it." (What movie) (No correct answers yet)

2. "You had two pairs of gloves all this time"? "Yeah ----, we're in the Rockies" What movie


When we get to 1270 we will have passed the 14% mark in the increase in the value of the dinar since the CBI started their overt increase in the exchange rate of the dinar to the dollar. 14% in and of itself is not really significant, it is just another milestone in the journey we are all on. My friends keep telling me we are in the "fourth quarter", I just want to know if we're in the "two minute drill". I am looking forward to sometime before mid April. If it goes pass that, then I don't expect anything until mid summer. Hope all is well with everyone. See you tomorrow for the last auction of this week and this month.


1. "1" Dinar rate change today, it was 1274, it is now 1273

2. A (net) worth of dinars, IQD - 42,066,285,000 pulled out of circulation today 3/28/07.

3. 11 banks participating today

4. 111th auction since the beginning of CBI's reval plan

5. 179 days into the CBI's reval plan.

6. 7,455,240,871,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 204 dinar change since Oct 1st (baseline was 1477) 13.811% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 4 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1273 so far this week.

10. 7 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1273
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.

Shoot, was hoping to be the first, but don't get to logon very often. Yes, it is Dumb and Dumber, right before the 'fight scene'.
Hunter

Iraq Making Political, Economic Progress, U.S. Official Says
State's Satterfield cites Iraq's advances in reconciliation, development

Iraq's elected leaders are making progress toward political reconciliation, economic development and improved relations with neighbors, says a top U.S. official.

In a March 27 speech to the Washington Institute for Near East Policy, David Satterfield, senior adviser to Secretary of State Condoleezza Rice and coordinator for Iraq, said Iraqi officials are making a "vigorous and comprehensive" effort to seek compromise and bridge differences among the Sunni, Shiite and Kurdish communities to create "a new national basis for a common future."

The most important example of the reconciliation agenda's progress, Satterfield said, was Iraq's recently completed draft hydrocarbon law, a key benchmark recently approved by the Council of Ministers that will be submitted to the Iraqi Council of Representatives in a few weeks.

The law, which outlines foreign investment and the national and local government's roles in developing the country's estimated 115 billion barrels of oil reserves, was the result of intensive negotiation. Satterfield said this demonstrates that internal differences exacerbated by decades of political repression are not irreconcilable and can be resolved through the democratic process.

Another challenge facing the Iraqi government, Satterfield said, was confronting the legacy of Saddam Hussein's Baath Party.

Even though the party was responsible for decades of abuses to the Iraqi people, membership was often a prerequisite for social and economic advancement for a wide range of Iraqi citizens. Satterfield said Iraqi leaders, accordingly, are developing a new approach to de-Baathification that shifts away from an approach of "criminality by association to one of individual accountability."

Iraqi Prime Minister Nouri al-Maliki and President Jalal Talabani sent a draft of the reformed de-Baathification law to the Cabinet and parliament March 27. The measure would offer jobs to former low-ranking regime officials and provide immunity to former Baathists, after a period during which Iraqi citizens can take them to court for suspected crimes.

Satterfield said that as these elements of the Iraqi government's reconciliation agenda proceed, they will set the stage for future steps, such as provincial election laws to develop a free, fair, voting process for Iraqi citizens to elect their local governments, as well as a political process for disarmament, demobilization and integration of insurgents and militia members.

Another key task for the Iraqi government is to extend essential services, such as sewage, water, and electricity to all citizens, making economic development another top priority, Satterfield said.

Satterfield said officials were surprised at the level of neglect to Iraq's key infrastructure during the Saddam regime, much of which appeared to have seen little maintenance since the early 1970s. Although Iraq is dedicating approximately $12.5 billion of its new budget for capital investment projects, he said that its leaders currently lack many of the bureaucratic tools needed to allocate funds and execute these essential large-scale projects.

The United States is responding by requesting $4 billion from Congress to help energize the building process by providing advisers and training for Iraqi officials. By doing so, Satterfield said, the United States could build on the success of parallel security operations by helping the Iraqi government undercut support for insurgents by creating economic opportunities and delivering essential services.

Satterfield called on Iraq's neighbors and the wider international community to join the United States in stepping up support for the Iraqi government.

Two recent events show that nations are committed to Iraq's success, he said. The first is the recently launched International Compact for Iraq, a U.N.-sponsored international effort to promote economic and political reforms. The second is the inaugural March 10 meeting of the Iraq Neighbors Conference, a multilateral effort to focus international support to stabilize and rebuild the country. (See related article.)

But more help is needed, Satterfield said. He urged countries to fulfill their pledges and deliver $31 billion in loans, credits, debt forgiveness and other types of aid.

Satterfield said that two of Iraq's neighbors, Iran and Syria, also continue to be sources of "broad concern."

Iran is the source of sophisticated bomb components and training for Shiite militants, and as many as 90 percent of the suicide bombers targeting Iraqi civilians are foreigners who entered Iraq through Syria, Satterfield said.

Source: U.S. Department of State

Iraq Making Political, Economic Progress, U.S. Official Says

Iraq legislates to have Saddam loyalists return to government
Iraq Sun
Tuesday 27th March, 2007
(Margaret Besheer )

Iraq's prime minister and president have introduced new legislation to make it easier for former members of Saddam Hussein's Baath party to resume working in government and security positions.

Backers of the measure believe its passage would be an important step toward national reconciliation.

The legislation aims to offer jobs to former regime officials who did not previously hold high positions. But it would exclude those already charged with or wanted for crimes. It would also grant state pensions to many former Baathists.

If approved by both the Cabinet and parliament, the so-called Law of Accountability and Justice would help to reconcile the country's ruling Shi'ites and minority Sunni Arabs.

Iraqi Deputy Prime Minister Barham Salih says the proposed legislation is necessary for national reconciliation, saying it will foster unity and cooperation among the Iraqi people.

Many Sunni Arabs belonged to the Baath party and were left unemployed by an earlier de-Baathification program administered by the U.S.-run Coalition Provisional Authority after Saddam Hussein was ousted in April 2003.

That program is widely blamed for leaving many former members of the military and security forces armed and out of work, stoking the country's insurgency.

Under the proposed law, Iraqi citizens would have three months to challenge the reinstatement of any particular Baathist. A special tribunal would review challenges and have three months to make a ruling, which could not be appealed.

Mr. Salih says the law would be the starting point of a new plan to rehabilitate former Baathists and to know who has committed crimes against the Iraqi people. He says those who are guilty of crimes must be held accountable and punished according to the law.

A U.S. Embassy spokesman in Baghdad welcomed the draft legislation, saying the measure provides "the basis for reconciliation and accountability."

Iraq legislates to have Saddam loyalists return to government