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

Originally Posted by Hardwood

Perhaps the Mrs. can strike a deal.

Ask the bank to give her the Dinar in "Proxy".

That way, she locks the amount without having the physical Dinar.

I'm sure they will say no, but may make an exception considering their blunders thusfar....

Best of luck to her and yourself.

Well she's got it now thanks. For what it's worth I got a pm from someone on another forum, (a regular) who's bank, Chase have accepted the dinar as collateral for a loan. A rumour yes, but I know the poster and the timing certainly makes this one an interesting one....move to rumours if you like mods.

Originally Posted by Hardwood

Perhaps the Mrs. can strike a deal.

Ask the bank to give her the Dinar in "Proxy".

That way, she locks the amount without having the physical Dinar.

I'm sure they will say no, but may make an exception considering their blunders thusfar....

Best of luck to her and yourself.

Rest assured that Mrs. A did in fact walk out of the bank with her dinars!! (She's no shrinking violet,) she lives with Adster afterall! Right Adam?

Originally Posted by Adster

Well she's got it now thanks. For what it's worth I got a pm from someone on another forum, (a regular) who's bank, Chase have accepted the dinar as collateral for a loan. A rumour yes, but I know the poster and the timing certainly makes this one an interesting one....move to rumours if you like mods.

Now that's a significant development!

Thanks for sharing it! (Now where's that darn "cheers" smilie....LOL)

Originally Posted by Wm.Knowles

I am glad you qualified your level of economic education, experience and understanding. "My guess" is very appropriate for the quality of your comments and postings". Thank You.

Sweet response!!

just gettin online for today and this was probably already posted but here ya go again if so....

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4-banking services company continue to transfer currency to the branches of government banks (Rafidain and Rasheed branches in Baghdad and other governorates), as well as private banks.

yooo hoooo, smaller denoms anyone????

Originally Posted by RollsRoyce

Hmmm . . . I would say your guess is WAY off my friend . . .

This is still one of my favorite posts & he's only quoting numbers through Jan / 18th / 2007 . . .

***** Ok everyone. Just simmer down now. Look at the facts: http://www.cbiraq.org/key%20financial.xls In section 5 you can see that M2 went from 21 Trillion in December to 13 Trillion on January 18th. Also, I believe the only relevant number for a reval is the deposit component of M2 because this represents the current potential instant demand. The deposit component went from 10 Trillion in December to 2.8 Trillion on January 18th! Nearly 8 Trillion Dinar has been removed from the money supply as of JANUARY! Reval here we come!

I forgot to give credit to Tony Soprano / Jpardino for this info . . . Sorry Tony . . .

These numbers tie in quite nicely with The-Oklahoma-Fisherman's* numbers & furthermore - make the most sense . . .

I'm sure some Dinar get back into circl. - but a HUGE amount is being pulled OUT!! . . . furthermore again, they may keep *wringing* the sponge - removing more & more . . . The more they pull out NOW . . . the better for their country's NET VALUE!! . . . and ours too . . . IMHO . . .


Best to all . . . RR . . .

Does anyone have the faintest notion of how much dinar is in the hands of speculators like ourselves?

Originally Posted by bigred52

Inscrutable: danny 51 did not say 7 trillon back.---- He said " What %
( precentage ) was returned to circulation.

Thanks for watching my back bigred52!!

Originally Posted by ourhouse37

Does anyone have the faintest notion of how much dinar is in the hands of speculators like ourselves?

There was a report on a estimate about how many US people were into this investment about 6 months ago. It was 50 to 75 thousand. But nothing has ever been verified or figured for the amount in those hands that I know of.

Sorry if posted before, which is highly probable, but just in case....

Meeting on the International Compact with Iraq, Statement by Takatoshi Kato,
Deputy Managing Director of the International Monetary Fund
United Nations Headquarters
New York,
March 16, 2007

As Prepared for Delivery

Mr. Secretary-General, Vice President Mahdi, Deputy Secretary Kimmitt, ladies and gentlemen, I am very pleased to address this meeting on the International Compact with Iraq. In my comments, I will focus on the relations of Iraq with the International Monetary Fund, in particular under the Stand-By Agreement, and on recent economic developments.

The Fund has been closely engaged with Iraq since 2003. Following the Emergency Post Conflict Assistance provided by the Fund in 2004, a Stand-By Arrangement was approved in December 2005. The First and Second Reviews of the program were completed in August 2006. I am pleased to report that the IMF Executive Board completed the Third and Fourth Reviews at the beginning of this week, on March 12, 2007. The IMF Board also approved an extension of the Stand-By Arrangement for six months, through September 2007. This extension will allow more time for the program to reach its objectives.

In their summing up of these reviews, the IMF's Executive Directors commended the Iraqi authorities for keeping their economic program on track despite the extremely difficult political and security circumstances. They stressed, however, that, while progress is being made in strengthening economic policies, improved security conditions will be crucial for achieving the objectives of the program. Directors therefore welcomed the government's commitment to stabilize the situation and its work on initiating an International Compact for Iraq to develop, with the support of the international community, a medium-term framework for political, security, and economic reform.

While the program has been largely on track, economic growth in 2006 was below target because oil production did not increase as projected. This reflected interruptions caused by the insurgency and by lower than planned investment, also related to the ongoing violence. The successful execution of the investment budget for 2007 and a resumption of growth in the oil sector will be heavily dependent on the evolving security situation.

High inflation also remains a concern. Annual consumer price inflation reached 66½ percent in January 2007, before dropping sharply to about 37 percent in February. In February, consumer prices actually fell by 7 percent. While the decline is a welcome development, inflation needs to be reduced further. Like the low growth rate, the high inflation rate is explained in large part by the ongoing violence, which is causing widespread shortages of key commodities, especially fuel products, and driving up prices.

The main focus of the just-completed program review was therefore on measures to help bring inflation down. With the economy highly dollarized and dominated by cash transactions, monetary policy in Iraq has limited effectiveness in influencing inflation at the present time. The central bank has raised interest rates and allowed the exchange rate to appreciate with the intention to arrest dollarization (and thereby improve the monetary policy transmission mechanism), and this may also help push inflation down.

The government is supporting its anti-inflationary policy by exercising strict control of government current spending, in order to ease spending pressures on the non-oil economy. At the same time, in order to alleviate fuel product shortages, the government has liberalized private imports of gasoline, while also stepping up government imports of gasoline (which will be sold domestically at unsubsidized prices so as not to compete with private imports).

It is important to note that the Iraqi authorities have continued their program of increasing domestic petroleum product prices. This policy is a key part of the process of removing distortions in the refined products market and reducing incentives for smuggling. It will also help improve fiscal sustainability over the medium term. The latest round of price increases went into effect on March 5, 2007.

I will not go into the details of the IMF-supported economic program for Iraq today, because these are available in documents published on the IMF website. The documents related to the most recent program reviews are currently available to IMF Executive Directors, and will soon also be published on the IMF website. A Press Release has been issued.

Let me conclude by saying that the Fund will continue to support the International Compact with Iraq. Our contribution will continue to be based on the economic program supported by the Stand-By Arrangement, in particular by working with the authorities to provide the medium-term macroeconomic framework for the Compact.

Meeting on the International Compact with Iraq, Statement by Takatoshi Kato, Deputy Managing Director of the International Monetary Fund, United Nations Headquarters

Cheers!
DayDream

Originally Posted by neno

There was a report on a estimate about how many US people were into this investment about 6 months ago. It was 50 to 75 thousand. But nothing has ever been verified or figured for the amount in those hands that I know of.

Neno: . . . My guess is that determining an exact number would be impossible . . . but if you figure 75K X an arbitrary number like 2M each = 15B [ I think? =15 followed by 10 zeros = hard to count all the zeros ] . . . still a far way from a Trillion . . . Just my opinion . . .

Best to all . . . RR . . .