Thread: Iraq/Dinar News Up until April 5th 5PM CTZ.

Number of banks 18 -----
Auction price selling dinar / US $ 1272 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 90.470.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 90.470.000 -----
Total offers for selling (US $) ----- -----

Gooooooooooooood Morning RolClub


"The More They Take, The More We Make"


1. "0" Dinar rate change today, it was 1272, it is now 1272

2. A (net) worth of dinars, IQD - 115,077,840,000 pulled out of circulation today 4/4/07.

3. 18 banks participating today

4. 116th auction since the beginning of CBI's reval plan

5. 186 days into the CBI's reval plan. (SIX MONTHS+)

6. 7,832,618,261,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 205 dinar change since Oct 1st (baseline was 1477) 13.879% 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 1273 at the end of last week, 1272 so far this week.

10. 1 point drop in the month of April. Ended at 1273 in March, now stands at 1272
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.

Sorry they removed the "thanks" button. So, thanks Socata 850 for your AM updates.

as long as the U.S. continues to send money to Iraq without having them[the Iraqi government] be responsible for anything i don't think we will see any changes....they need to start being held accountable....they miss sessions to vote on important issues,yet they still get paid...they are safe in their green zone from snipers and attack....they have missed all sorts of deadlines to meet.and yet we still send our money over there...the corrupt members of congress[Iraqi] have stolen 8 billion dollars of U.S. money since 2003....more then likely given to insurgents or the Mahdi Army.....put them on a time schedule and make them stick to it...as long as they see Bush trying to fight to get their money for them they will keep on doing what they are doing now....which is ""NOTHING""...they can talk a good fight,but they don't do what they say they will do...hold them accountable......or make changes in their government....now...not later....they have had enuff chances...IMHO...Pat...GO DINARS

Originally Posted by Wm.Knowles

Sorry they removed the "thanks" button. So, thanks Socata 850 for your AM updates.

Good to see you on this morning, I am getting very anxious about this whole thing. I try to keep everything into perspective, but it really makes me wonder just how much longer this will go on. We are approaching 8 trillion dinar pulled from circulation. Hope all is well, we'll see what happens through this week.

Help! I have the paper version of the Wall Street Journal, but I can't find this article to cut and paste. On the front page, upper left:
The Return of Middle East Stock Prices
Then on page C1:
The New Frontier: Mideast
Stocks in Persian Gulf Outpace Other Markets; 'Off the Radar Screen'

Nothing about Iraq in particular, but in general about the potential there, and how investors are looking into it more closely, especially as other markets are struggling.

I just thought it was significant that this was even news. They see the potential that will outweight the risk of the ongoing turmoil, I think.

Iran to free sailors as ‘gift’ to UK

By Gareth Smyth in Tehran
Published: April 4 2007 14:26 | Last updated: April 4 2007 14:57

President Mahmoud Ahmadi-Nejad of announced on Wednesday that Iran would free immediately the 15 British marines and sailors detained since March 23.
In a well choreographed press conference, Mr Ahmadi-Nejad said the 15 would be released as a “present to the British people” on the occasion of Easter and the Jewish Passover.

The announcement came after Mr Ahmadi-Nejad had presented a medal to Abul-Qassem Amangah, commander of the Revolutionary Guards responsible for capturing the 15, whom Iran says trespassed into its coastal waters, a charge London denies.
“Although the Iranian nation has the authority and legal right to put on trial the British military people, Iran will [instead] acquit them,” he said.
The move followed Tuesday’s return to Tehran of Jalal Sharafi, a senior diplomat who was freed on Monday two months after being kidnapped in Baghdad, apparently by Iraqi special forces, and by a report earlier on Wednesday from IRNA, Iran’s official news agency, that Tehran would for the first time be allowed access to five Iranians held by US forces in Iraq since January.
Iran, the US and Britain have all denied linkage between the cases.

Originally Posted by Socata 850

Good to see you on this morning, I am getting very anxious about this whole thing. I try to keep everything into perspective, but it really makes me wonder just how much longer this will go on. We are approaching 8 trillion dinar pulled from circulation. Hope all is well, we'll see what happens through this week.

I agree. Just how much longer can this go on? No way to tell, but from the largest estimates of the money in circulation, at least a third of the monetary base has been removed, maybe a lot more. We have reports of drying up both in Iraq and the US and the UK. Several reports of inflation moving downward and the rumors of large banks not selling any longer. I know the reports are inconsistent, but the trend is alive and well. Faced with the 77% inflation rate last summer, the SBA saying the rate of exchange was the problem and the subsequent change in the auctions of the CBI, they have to be close to a target amount. IMHO inflation was the real killer to this investment. I think they decided to attack that instead of RV the currency last year. Actually a very responsible action given the situation, and classic textbook monetary intervention. IMHO I don't think they can continue this much longer. Since currency is traded as a commodity, supply and demand is relevent. And we have a decreasing supply and an increasing demand. A classic situation for an increase in price. So even if this has taken longer than we would like, the stage is "set", the "pressure cooker" is steaming, or the "pot" is about to boil. Pick which ever one of those you like. Have a good day and thank you.

Originally Posted by Icemann 30

Iran to free sailors as ‘gift’ to UK

By Gareth Smyth in Tehran
Published: April 4 2007 14:26 | Last updated: April 4 2007 14:57

President Mahmoud Ahmadi-Nejad of announced on Wednesday that Iran would free immediately the 15 British marines and sailors detained since March 23.
In a well choreographed press conference, Mr Ahmadi-Nejad said the 15 would be released as a “present to the British people” on the occasion of Easter and the Jewish Passover.

The announcement came after Mr Ahmadi-Nejad had presented a medal to Abul-Qassem Amangah, commander of the Revolutionary Guards responsible for capturing the 15, whom Iran says trespassed into its coastal waters, a charge London denies.
“Although the Iranian nation has the authority and legal right to put on trial the British military people, Iran will [instead] acquit them,” he said.
The move followed Tuesday’s return to Tehran of Jalal Sharafi, a senior diplomat who was freed on Monday two months after being kidnapped in Baghdad, apparently by Iraqi special forces, and by a report earlier on Wednesday from IRNA, Iran’s official news agency, that Tehran would for the first time be allowed access to five Iranians held by US forces in Iraq since January.
Iran, the US and Britain have all denied linkage between the cases.

A gift? Yeah right, that's like a Bank robber returning the money they stole and expecting you to thank them for it.

Originally Posted by Wm.Knowles

I agree. Just how much longer can this go on? No way to tell, but from the largest estimates of the money in circulation, at least a third of the monetary base has been removed, maybe a lot more. We have reports of drying up both in Iraq and the US and the UK. Several reports of inflation moving downward and the rumors of large banks not selling any longer. I know the reports are inconsistent, but the trend is alive and well. Faced with the 77% inflation rate last summer, the SBA saying the rate of exchange was the problem and the subsequent change in the auctions of the CBI, they have to be close to a target amount. IMHO inflation was the real killer to this investment. I think they decided to attack that instead of RV the currency last year. Actually a very responsible action given the situation, and classic textbook monetary intervention. IMHO I don't think they can continue this much longer. Since currency is traded as a commodity, supply and demand is relevent. And we have a decreasing supply and an increasing demand. A classic situation for an increase in price. So even if this has taken longer than we would like, the stage is "set", the "pressure cooker" is steaming, or the "pot" is about to boil. Pick which ever one of those you like. Have a good day and thank you.

Hi Mr. Knowles,
Do you think the reason for removing the currency from circulation first is so that they would have the ability to later reval the currency at a higher rate? Another words, the less currecny circulating, yes this lowers inflation but also it would be worth more?
Sorry I know this is probably basic stuff, just wanted to make sure I am understanding all of this correctly.
Thanks again,
CLM

Originally Posted by wciappetta

A gift? Yeah right, that's like a Bank robber returning the money they stole and expecting you to thank them for it.

And now that the Brits are out of the way the area is open to a US air attack. Friday or Saturday? Place your bets.