Thread: Iraq/Dinar News Until 5/3/07 Midnight CST.

Originally Posted by Ranger III

Thank you once again, Socata, for your regular updates. They are most welcome and most helpful.

Assume for discussion purposes that:

(1) Socata's numbers are basically correct;

(2) Five (5) trillion dinars that the United States reportedly owns
are contained in Socata's item number 6A;

(3) Twenty-one (21) trillion dinars were printed; and

(4) The rest of the world, including Saudi Arabia, Kuwait, Jordan, and
people like us hold a total of 1,214,720,499,000 dinars.

You missed a big one...(5) How many dinars are re-cycled daily back into the Iraqi economy by the government? (not the CBI auctions)

No immediate debt relief for Iraq

No immediate debt relief for Iraq - Yahoo! News

Originally Posted by Inscrutable

No immediate debt relief for Iraq

No immediate debt relief for Iraq - Yahoo! News

Well, it would appear (to me anyway) that they will need to RV at a little more than 1:1 to pay off the remaining 50-62 billion in debts...works for me . This would give them the purchasing power to buy the dollars (or whatever currency used) to pay them off.

Thoughts?

Patty

Originally Posted by Ranger III

Thank you once again, Socata, for your regular updates. They are most welcome and most helpful.

Assume for discussion purposes that:

(1) Socata's numbers are basically correct;

(2) Five (5) trillion dinars that the United States reportedly owns
are contained in Socata's item number 6A;

(3) Twenty-one (21) trillion dinars were printed; and

(4) The rest of the world, including Saudi Arabia, Kuwait, Jordan, and
people like us hold a total of 1,214,720,499,000 dinars.

These assumptions would result in there being approximately 1.3 trillion dinars currently in circulation.
Somehow Shabibi has been able recently to pull out of circulation approximately 350 billion dinars per week. Assume he is able to do this during each of the next three (3) weeks. This to my way of thinking is not farfetched; he was able, for example, to pull out 126 billion dinars
today!

The net result of all this is that by the week of May 28th the amount of
dinars actually in circulation could be reduced to approximately 250 billion.

If you were Shabibi, wouldn't you do this and hold off on the r/v for those
three weeks, especially since (1) the HCL has not yet been passed by parliament and (2) the intervening auctions could save Iraq approximately one (1) trillion dollars in debt on its currency, assuming an ultimate r/v of 1:1? It seems to me that this suction effort dwarfs the debt-forgiveness effort. Iraq's indebtedness is reportedly down from approximately $185 billion
to approximatety $45 billion - a reduction of $140 billion achieved after
years of begging for forgiveness. Hasn't Shabibi exceeded this debt-forgiveness figure in the last two (2) days alone with his rampaging auctions?

Since I am not a banker, and Wm. Knowles is, I'd be very interested in
whether he agrees with the above analysis.

Can you explain where or how you came up with these numbers... thanks

Iraq ready for overall development of ties with Russia: PM



03.05.2007, 20.14



SHARM EL SHEIKH, May 3 (Itar-Tass) - Iraq is ready for comprehensive development of relations with Russia, Iraqi Prime Minister Nuri al-Maliki, who is taking part in an international conference on Iraq, told Tass on Thursday.

“I hope this will happen in the near future,” he stressed.

Hmmm...and how do you suppose this could happen

Iraq invites Indian firms to build refinery
New Delhi, May 4 (PTI): Iraq has invited Indian companies to build a 8-10 million tonne refinery as the war-ravaged country rebuilds its energy sector.

"We had a very good meeting with Iraqi oil minister Hussain Al-Shahristani in Riyadh and he is keen on Indian companies helping the country build its refining capacity," Petroleum Minister Murli Deora said.

The Iraqi oil miniser is visiting New Delhi in the next two weeks to further discuss the prospects of Indian participation in the proposed two billion dollar refinery project, Deora said.

Iraq conference turns to security
Major world and regional powers are to discuss ways of combating violence in Iraq, on the second day of a two-day summit in Egypt.
Iraq's neighbours, including Iran and Syria, will join ministers from the G8 nations and the EU in Sharm el-Sheikh.

The US has accused Iran and Syria of allowing foreign fighters to enter Iraq and of fomenting unrest in the country.

The US secretary of state met Syria's foreign minister on Thursday, the highest-level talks for several years.

The UK foreign secretary briefly met Iran's foreign minister as well, but there was no meeting between US and Iranian officials.

Diplomatic push

More than $30bn (£15bn) in aid and debt relief was pledged by donors on the first day of meetings, which ended with the signing of a five-year international compact for Iraq.

The agreement offers financial aid but insists that Iraq pushes towards political reform and reconciliation.
The BBC's Ian Pannell, in Sharm al-Sheikh, says the conference is the largest diplomatic push since Iraq was invaded.

Iraqi Finance Minister Bayan Jabor said Egypt had agreed to write off all the money it was owed by Iraq - about $800m - while Slovenia, Bulgaria and Poland would cancel 80% of Iraq's debts.

He said the European Union had pledged $200m in grants, while British Foreign Secretary Margaret Beckett committed the UK to the same amount.

"In return Iraq will have to commit to finding real national reconciliation," Mr Jabor told Reuters.

'Making progress'

Friday's discussions on security follow will expand on topics addressed in the brief meeting between US Secretary of State Condoleezza Rice and Syrian Foreign Minister Walid Muallem.

Ms Rice raised US concerns over Syria's porous border with Iraq and asked Syria to stem the flow of arms and foreign fighters.

Earlier, a US military spokesman in Iraq said there had been a reduction in the numbers of foreign fighters crossing from Syria to Iraq in recent months.

Speaking at a news conference with the Egyptian foreign minister on Thursday, Iraqi Prime Minister Nouri Maliki said his country was making progress on security issues.

"Any rational observer of the Iraqi scene would agree that our capabilities to confront terrorism are growing day by day at the level of the army, the people and the police," he said.

"This compact which has been signed will help Iraq [fight terrorism] at the political, economic and security levels."

UK announces extra aid to Iraq
--------------------------------------------------------------------------------

ANI Thursday 3rd May, 2007

London, May 3 : Speaking today at the Launch of the International Compact with Iraq, in Sharm El Sheikh, British Foreign Secretary Margaret Beckett, thanked her Egyptian hosts and announced that the UK was now committing more money to assist Iraq.

She announced that the UK will spend at least an additional 100 million pounds to assist reconstruction in Iraq.

Beckett said: "This brings our total humanitarian and reconstruction support for Iraq's reconstruction to 744 million pounds or 1.5 billion dollars. Our work with the Iraqi Government building their capacity and unlocking resources already available in Iraq's budget, continues to be a British priority."

Commenting on the importance of the two days of conferences to Iraq, Beckett told the conference: "The reforms and policies described in the Compact are challenging. Their implementation can play a key part in helping the Iraqi government deliver essential improvements in security and services to the Iraqi people. This will help reinforce the credibility of the National Unity Government and support greater stability in Iraq.

"Iraq's potential and its people's ambition are clear to everyone. But so too are the challenges that Iraq needs to tackle. I salute the personal leadership of PM Maliki in his efforts to restore security, includinghrough the Iraqi-led Fardh Al-Qanoon security plan in Baghdad. As Mr.Maliki has said, security in Iraq will not improve until all sides reject violence. All sides must take part in national reconciliation. And all sides must help build a truly inclusive and effective national unity government.

"Strong Iraqi leadership needs to be underpinned by constructive engagement by its neighbours. Iraq's regional partners can help reduce the violence in Iraq and encourage political reconciliation. I welcome the Neighbours Meeting tomorrow which I hope will help build practical cooperation between Iraq and the region.

"We urge the Iraqi government to take the lead in implementing the commitments made here today. The international community will support you in this endeavour. We hope that a Compact Secretariat will be set up as soon as possible in Baghdad to monitor the progress of the Compact and of the international commitments made here today."

Iraq security drives US-Syria talks
Secretary of State Rice met in Egypt Thursday with Syrian Foreign Minister Moalem, who called their discussion 'frank and constructive.'
By Howard LaFranchi | Staff writer of The Christian Science Monitor

Sharm El-Sheik, Egypt
In a move signaling a significant change in US policy, Secretary of State Condoleezza Rice met Thursday with her Syrian counterpart on the margins of an international meeting about Iraq.

Though largely limited to a statement of US concerns about Syrian action with impact on Iraq, the meeting opens the door to further contact and signals a new Bush administration willingness to engage even its diplomatic foes to improve conditions in Iraq.

Dr. Rice came to a two-day gathering of Iraq's neighbors hinting at her willingness to meet with Iranian officials, who are seen as perhaps the most important outside influence on Iraq. But as the meeting opened Thursday, US officials were playing down prospects for that meeting and talking up the likelihood – and utility – of a meeting with the Syrians.

Rice's meeting with Syrian Foreign Minister Walid al-Moalem focused on security issues, specifically, US concerns over the destabilizing influence of a porous Syrian border with Iraq, according to State Department officials.

Mr. Moalem told reporters that the meeting was "frank and constructive" and indicated that it was limited to Iraq. At the same time, US military officials in Baghdad said at a press conference that they were seeing indications of greater Syrian effort to control its border with Iraq.

Rice's meeting with Moalem reflects the administration's decision to step up diplomacy – while not making that the focus of its Iraq policy, say some Middle East analysts.

"They see this as the complement to their centerpiece, which is the surge" in US troops in Baghdad, says Patrick Clawson, deputy director of the Washington Institute for Mideast Policy. The administration's thinking has evolved to where "diplomacy is a useful adjunct," he says.

For others, however, the decision to meet is still a distasteful step – though one born of necessity – for an administration that has showcased its refusal of dialogue with what it has called "evildoers."

Asked about the significance of the contact, Iraqi Deputy Prime Minister Barham Salih put it in the context of what he sees as growing cooperation to help his country. "What we're seeing is that the stability and prosperity of Iraq can be a point of unity for the international community," he said. That is happening, he added, because of a growing consensus that "the challenges of terrorism and extremism and instability affect all of us," not just Iraq.

No high-level contact since 2005

The US had rebuffed any high-level contact with the Syrians since the February 2005 assassination of former Lebanese Prime Minister Rafik Hariri in a Beirut car bombing. The US has sought to ostracize Syria over what it says was a Syrian hand in the assassination – a claim backed up by a UN inquiry – though Syrian President Bashar al-Assad has denied his country's involvement.

Just last month, the White House harshly rebuked House Leader Nancy Pelosi for meeting with Mr. Assad during a Middle East tour. That followed the administration's cool reception of the Iraq Study Group's December report, which concluded that the US should embark on a robust diplomatic initiative, including Iran and Syria, to address Iraq's deteriorating political, economic, and social conditions.

Until recently, Rice had rejected calls for direct contact, repeating her position that the Syrians "know what they have to do" to help Iraq and avoid isolation. The US accuses Syria of lax border controls that let foreign jihadist fighters enter Iraq.

One factor in the administration's about-face on contact with Syria is the role Syria would play in any relaunch of the Israeli-Palestinian peace process. Iran may be more important than Syria in terms of Iraq, but Syria would play a key role in any Middle East peace effort.

Since the start of the year, Rice has put new emphasis on resolving the Israeli-Palestinian conflict. She was to take part in an informal meeting on peace efforts Friday. Syria was expected to join that meeting.

Another motivation behind the contact with Syria could be the idea of splitting it off from Iran, as suggested by some US analysts and Arab officials. Syria's ties with Iran have strengthened in recent years, especially as the West's efforts to isolate Damascus over the Hariri assassination have grown. But some Arab countries believe a less-radical Syria is more open to working with major powers, especially since it too wants something out of any Israeli-Palestinian peace deal.

Only unofficial pleasantries with Iran

Earlier hints from Rice and others, including Iranian President Mahmoud Ahmadinejad, that a US-Iran meeting might take place withered as Thursday's International Compact for Iraq got under way. Rice and Iranian Foreign Minister Manouchehr Mottaki were not seen to make any contact at a session where Mr. Mottaki blamed "the flawed policies of the occupying powers" for Iraq's plight.

The two did exchange salutations before lunch, according to US officials, who added that any further contact was likely to be limited to a similar opportunity before an official conference dinner.

Rice's decision to meet her Syrian counterpart was swiftly condemned in some circles, including opponents of the Assad regime and other hard-liners who see such contacts as rewarding bad behavior.

"Meeting with the Syrian foreign minister will send the signal that Middle East violent dictators are rewarded," the Reform Party of Syria, a US-based opposition party, said in a statement. It will "also send a signal to other dictators with a penchant for violence that the United States will succumb to their will if they terrorize their neighbors the way the Assad regime has terrorized Iraq, Lebanon, and the Israeli people via Hizbullah."

But some experts see the meeting as a kind of public declaration of "put your money where your mouth is."

Mr. Clawson of the Washington Institute notes that both Iran and Syria have said that they "respect Iraq's government" and its right to govern as a sovereign nation. "That provides an opening," he adds, "to go to them and say, 'OK, what are you going to do about it?' "

Can US sustain Anbar success?
While Al Qaeda in Iraq has been largely driven out of Ramadi, the US is hoping to build on the gains by fixing basic services and mediating tribal hostilities.
By Sam Dagher | Correspondent of The Christian Science Monitor

RAMADI, Iraq
Col. John Charlton, commander of US forces in Ramadi, keeps a big white board in his office that lists a dizzying array of tasks. It's a catalog of jobs meant to rebuild the war-shattered capital of Anbar Province.

The list stretches through October, and, on a visit to his office last week, not one item had been ticked off.

While the colonel from Spokane, Wash., says the American fight against Al Qaeda in the city is over, the hard work of maintaining that victory is now facing the US troops.

"The number one accomplishment," Colonel Charlton says, is that Coalition forces, the Iraqi police, and Iraqi Army have defeated Al Qaeda in Ramadi. "We have absolutely defeated them."

Indeed, the city that was once an Al Qaeda stronghold appears to be firmly in the hands of US and Iraqi forces. Only a few months ago, those forces could not even venture out without being attacked.

To sustain their success, US troops here have embarked on restoring basic services, maintaining some stability, and bringing hope to the war-weary citizens of Ramadi. Doing that hinges on easing a power struggle – and a rush to control resources and institutions – under way between a reemerging provincial authority and the same group of tribal leaders that helped the US in the fight against Al Qaeda.

It also depends on spreading the formula that has helped in Ramadi to other parts of the Sunni Arab province, especially the area around Fallujah, where the insurgency remains strong among the tribes there.

An Iraqi fight to control Ramadi

The newly assertive Anbar sheikhs – emboldened by their fight to drive Al Qaeda elements from the province – are eager to carve out a political role for themselves.

"The governor is a dictator. He's the source of all evil in the province," says the governor's deputy, Sheikh Moayad Ibrahim al-Humaishi, who is also a leading member of the Anbar Salvation Council, the collection of tribal leaders that rallied against Al Qaeda.

The governor, Mamoun Samir Rashid, belongs to the Iraqi Islamic Party, one of the country's main Sunni political parties. He's also a member of the Bu-Alwan tribe, which traditionally has more influence inside the city. Now, for his protection, Mr. Rashid is driven from home to work by US marines.

The struggle among tribes for power in Ramadi – which threatens to undo much of the US success – can be seen being played out throughout the city.

At one of the many elaborate luncheons of lamb and rice that take place nearly every day to fete what Mr. Humaishi describes as the "legendary victories" of the tribesmen over Al Qaeda, tribal leaders gather to often rail against the injustices of rival Shiites who control the government.

"[Prime Minister] Nouri al-Maliki is helpless. He's a man that wants to make things happen but he's shackled by black-turbaned clerics in his government," proclaimed the leader of the Bu-Dhiab tribe, to which Humaishi belongs.

At another meeting of one of Ramadi's newly established district councils, shepherded by marines and designed to identify the immediate reconstruction needs of the city, sparks flew again when only seven of the 21 members showed up.

"I am going to fire them all," said Saad Hamed Albu-Alwani, a relative of the governor, accusing some members of his council who are loyal to the Salvation Council sheikhs of trying to subvert his authority.

Colonel Charlton admits there are problems. Now, he says, the US military acts as a moderator.

"We definitely play a referee function here sometimes because our interest is keeping all these groups in cooperation with each other and moving forward on continuing to secure Ramadi and the rebuilding effort."

But as the different parties bicker, needs remain unmet. Only seven police stations are open inside Ramadi. Most have heavy US Marine and Army presence.

The city's main market remains shuttered, and many buildings in the center are fully or partially destroyed. Sewerage water floods many streets, and heaps of garbage pile up at street corners. On a recent patrol of the city's Aziziyah neighborhood by Iraqi police and US Marines, youngsters were shoveling molding garbage that hadn't been picked up in six months onto a tractor. They are being paid $10 a day by the US military.

The population still sees the US side as the only credible authority.

Al Qaeda down, but not out

Many US and Iraqi officers say that many Al Qaeda members have regrouped farther north in the province around the Lake Thar-thar area and east in places like Al Karma, which borders Baghdad.

Al Qaeda did make its presence felt in Ramadi and surrounding areas last week with four car bombs targeting mainly the newly reconstituted police force. The deadliest attack was a suicide truck bomb against a police chief from the Bu-Nimr tribe that missed him but killed 25 of his kinsmen and wounded 40, according to a police officer. Al Qaeda claimed responsibility for the attack in an Internet statement.

Now the group, which also benefited from and controlled fuel deliveries to the province, issued last week death threats to tanker drivers not to take part in convoys put together by local authorities, according to a US military source.