Thread: Iraq/Dinar News until 5PM CST May 10,2007

Originally Posted by dinartank

Thats the only way we will see a significant rv....and i mean not a dollar but maybe 30 to 50 cents to start....unless there is alot more than say 500 billion proven reserves...as of right now there is only 115 billion proven with only 10 percent of the land surveyed... i believe....what about the other 90 percent?

I don't think they would consider any kind of RV that low....with Oil behind it ...would "Peg" somwhere around 1:3 USD somthing....and only be able to vary 3 to 4 % per the IMF....think about that ...

Originally Posted by mike brown

found this on the " other " forum, hope it's not a re-postThe Ministry of Commerce said that next month will witness the implementation of a special program to activate trade relations between Iraq and various countries around the world.

A source in the ministry said in a press statement that "this program prepared by the government would include all countries of the world, especially the neighboring countries to develop economic and commercial relations with them as there will be a joint bilateral committees with those States as well as increasing business contracts ..

He added: "The coming days will witness the meetings between the Iraqi government delegations and a number of countries of the world, especially the neighboring countries, to discuss joint working papers between Iraq and those countries", stressing: "Iraq's desire to develop all economic and trade relations with the world countries and the relations that were cut during the past years to gain the experience of various countries of the world in developing the economy, supporting the private sector and to taking advantage of investment law which was approved some months ago.

It is noteworthy that Iraq is seeking to join the World Trade Organization after obtaining the observer status in the organization in a step considered a prelude to reviving the Iraqi economy and the reconstruction of Iraq.__________________

I wonder, if this has anything to do with the WTO?

Hi guys I'm back--on the ship and should be able to check in regularly...Would someone please fill me in on the last couple of days..internet is soooo slow on the ship and reading back through the posts takes too much time with others waiting to use the computers...

What happened with the ICI? How are we looking? Anybody have a new timetable??

Thanks! Cheers Tracy

Friday preachers calling activation decisions Sharm el-Sheikh

(صوت العراق) - 05-05-2007

(Voice of Iraq) - 05-05-2007

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Friday preachers calling activation decisions Sharm el-Sheikh and a demonstration in Najaf to denounce the abuse of reference ... Alkerblaney warns targeting Shiite cities and Sumaida'ie demanding the government to fulfill its obligations

Baghdad, Najaf-Kazim, Fadel sounded Rashad life-05 / 05 / 07 / /

Varied Friday sermons in Iraq yesterday, the call to support Sharm El-Sheikh conference and activating its claim, a claim Iraqi government to assume its duties to spare Iraqis and providing requirements, and a warning from the reaction of uncalculated targeting Shiite holy places, and denounce the harming religious authority in Najaf through the channel «island».

Mahmood Sumaida'ie front of the mosque imam, or villages in his sermon yesterday said that «exit of the Sharm el-Sheikh positive recommendations and mechanisms do implement those recommendations is welcome to the Iraqis who are awaiting any move to ensure the departure of the occupation and the restoration of security in our wounded».

He called on the Iraqi government to «fulfill their promises to the Iraqi people, and turning verbal commitments into actions». He urged «Iraqi neighboring states, especially those that have the upper hand in the complicated situation in the country and spread violence, not to interfere in the Iraqi political and assistance that would ensure security and prosperity».

For his part, Sheikh Muhanad Aboudi, in front of the Abbas mosque preacher in Sadr City (east Baghdad) Iraqi government «assume its obligations towards the Iraqi people and not left vulnerable to abuses American», indicating «the occupation soldiers to the youth in the seven palaces (north of Baghdad) (...) In a grotesque scene reflects the American flagrant violation of human Iraqis and dignity ».

He criticized the government Aboudi Maliki «because it did not show any sign of easing the burdens on the people, in services, health, security and politics, did not intervene to stop the violations against Iraqis, as it did not abide by the clear demands of the Iraqis to establish a specific timetable for American withdrawal from Iraq».

In Karbala, Sheikh Abdul Mahdi Alkerblaney, representative of the religious leader Ayatollah Ali al-Sistani that «targeting holy cities and honorable assault on the sanctity of Muslims», recalling what happened to the military shrine in Samarra and its repercussions », warned that« may not be able to control the feelings and reactions of citizens in time if that abuses ».

He called Alkerblaney central governments (of Baghdad) and local (Karbala) b «support of the security forces in Karbala and equipped with explosive detection in addition to the activation of intelligence agencies and monitor potential material for the advancement of its work».

He criticized the positions of some of the satellite channels, a channel «island», and abuse through programs to the supreme religious authority in Iraq, and assaulting and labeling of reference are not only interested fundraising rights and the issuance of fatwas.

The demonstration in Basra to protest the continued detention of charge in the current Sadri Saleh AL ZAYANI.

(ا ف ب)

(AFP)

Turning Alkerblaney to Sharm El-Sheikh conference, calling on the major countries and regional participation in the conference to «support the Iraqi people to get out of its financial, security and construction and service» warned that «unstable Iraq would have on the entire State, and the stability of Iraq is top on everyone», calling for resorting to «principle of dialogue and understanding to solve differences, far from interfering internal affairs of countries ».He added that «may not settle accounts on the land of Iraq, because the loss will affect everyone».

In Najaf, Sheikh Sadreddin Al Kabangi that «Iraq need to assign States gathered in Sharm el-Sheikh to support the political process and reconciliation and reject terrorism and stop incitement against Iraq and Shiites in Iraq», adding that «Iraq is the decision and we will not accept any decision imposed on us».

Denounced Qabbanji abuse religious authority issued during a television program on Channel «island» He said : «We denounce the most egregious offended Shiites these statements, which came on the eve of the Sharm El-Sheikh conference also comes in the context simultaneously with the call for overthrowing the Iraqi government elected», warning «we will not allow to happen encroaching».

On the other hand, emphasized that Qabbanji «Resistance is a legitimate right provided that the killing of innocent people and the sectarian war and its effects of internal strife», adding that «the Shiites are not willing to be a bridge to the occupation or Baathist or Tkeverien».

In addition, hundreds of people demonstrated in Najaf after Friday prayers yesterday to protest what it misuse of the religious reference in the broadcast channel «island» country last Wednesday.

She condemned the demonstration, which was attended by representatives of political parties and members of the local council, Canal «island» and carried banners and slogans in support of religious reference.

The channel country before Wednesday evening meeting with Shiite clergyman Jawad says of the program «Sans Frontieres» address the role of the Shiite religious authority, especially Ayatollah Ali Sistani, regarded as derogatory reference to the guarantee of Aiding them support the occupation and to curb the resistance movements.

The official media in maintaining Ahmed Dabell Maintaining decided to terminate the grace period for the channel «island» stay in Najaf after receiving a letter from the Iraqi Interior Ministry accused the channel «heart of the facts and raise sectarian sedition and incitement to murder and violence in Iraq».

Translated version of http://www.sotaliraq.com/

Well, it seems that the ICI was not successful! Debt negotiations still going on! There are a lot of people not happy, me included. So what do we do?

(A) Buy more?

(B) Sell some or all?

(C) Holdem

The correct answer is all of the above. Buy, sell and hold!

Actually the correct answer is. Be your own person, and make up your own mind. This could be a long haul, plan for a plan B. Any ideas?

Originally Posted by mike brown

found this on the " other " forum, hope it's not a re-postThe Ministry of Commerce said that next month will witness the implementation of a special program to activate trade relations between Iraq and various countries around the world.

A source in the ministry said in a press statement that "this program prepared by the government would include all countries of the world, especially the neighboring countries to develop economic and commercial relations with them as there will be a joint bilateral committees with those States as well as increasing business contracts ..

He added: "The coming days will witness the meetings between the Iraqi government delegations and a number of countries of the world, especially the neighboring countries, to discuss joint working papers between Iraq and those countries", stressing: "Iraq's desire to develop all economic and trade relations with the world countries and the relations that were cut during the past years to gain the experience of various countries of the world in developing the economy, supporting the private sector and to taking advantage of investment law which was approved some months ago.

It is noteworthy that Iraq is seeking to join the World Trade Organization after obtaining the observer status in the organization in a step considered a prelude to reviving the Iraqi economy and the reconstruction of Iraq.__________________

Hope that means ISX will be opened soon!

The fourth international exhibition for the reconstruction of Iraq based on Monday

(صوت العراق) - 05-05-2007

(Voice of Iraq) - 05-05-2007

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The fourth international exhibition for the reconstruction of Iraq based on next Monday in Jordan

The participation of more than 700 companies from 40 countries

RIYADH : «Middle East»
Witness the fourth international exhibition for the reconstruction of Iraq to be held in the period between 10-7 May (May 5) in the Jordanian capital Amman, where large turnout internationally involved more than 700 companies from 40 countries in addition to the 300 global brands, as a rule to go to the Iraqi market, Jordanian and meet the requirements of Iraqi businessmen and Jordanians It is the neighboring countries. The exhibition will be held by the group organized by the International Exhibition and the Riyadh Exhibition Company Ltd. Square in Amman for exhibitions that has been developed specifically to the area of more than 100 thousand square meters on the side of the road to the airport Club Dions Amman, where they were processing 24 thousand square meters of buildings of the vast supply of incubation Interior addition to 5 thousands of square meters of the space.
The advantage of this international event since its first session held in Kuwait in 2004 successfully exceptional at various levels, which receive support and care consistently from various organizations and quasi-governmental international and Arab. Participate in the exhibition this year, companies from Austria, Australia, Belgium, Brazil, Bulgaria, France, Germany, Greece, India, Indonesia, Italy, Japan, Korea, Malaysia, the Netherlands, Russia, Spain, Thailand, Turkey and the United States, the United Kingdom, Pakistan, Iraq, Iran, Saudi Arabia, Jordan, the UAE, Kuwait and Lebanon.

And the participating products and solutions and equipment for several sectors, notably building and construction, oil and gas, health care, education, information and communication technology, as well as consumer materials and household items. Exhibitors and looks forward to the establishment of international relations in addition to meeting with businessmen and the Jordanian and Iraqi companies and their counterparts from Arab states.

The exhibition is the reconstruction of Iraq 2007 an important occasion for the Iraqi businessmen and the Jordanians and Arabs to identify companies crossbar and sign contracts dealerships, distribution and joint ventures.It is noteworthy that Saudi Arabia is the participation of prominent wing in the exhibition this year with the participation of 35 Saudi companies and factories.

Translated version of http://www.sotaliraq.com/

Originally Posted by oldskiier

Fiat Money History in the US

Couldn't Iraq turn their currency into "Fiat Money"....and having some kind of agreement in the ICI that was signed make it ....just like below...????


OVERVIEW In a fiat money system, money is not backed by a physical commodity (i.e.: gold). Instead, the only thing that gives the money value is its relative scarcity and the faith placed in it by the people that use it. A good primer on the history of fiat money in the US can be found in a video provided by the Mises.org website.

In a fiat monetary system, there is no restrain on the amount of money that can be created. This allows unlimited credit creation. Initially, a rapid growth in the availability of credit is often mistaken for economic growth, as spending and business profits grow and frequently there is a rapid growth in equity prices. In the long run, however, the economy tends to suffer much more by the following contraction than it gained from the expansion in credit. This expansion in credit can be seen in the Debt/GDP ratio. We track the bubbles created by this expansion of debt at the inflation / deflation page.

In most cases, a fiat monetary system comes into existence as a result of excessive public debt. When the government is unable to repay all its debt in gold or silver, the temptation to remove physical backing rather than to default becomes irresistible. This was the case in 18th century France during the Law scheme, as well as in the 70s in the US, when Nixon removed the last link between the dollar and gold which is still in effect today.

Hyper-inflation is the terminal stage of any fiat currency. In hyper-inflation, money looses most of its value practically overnight. Hyper-inflation is often the result of increasing regular inflation to the point where all confidence in money is lost. In a fiat monetary system, the value of money is based on confidence, and once that confidence is gone, money irreversibly becomes worthless, regardless of its scarcity. Gold has replaced every fiat currency for the past 3000 years.



Why couldn't they do this ???? the M2 wouldn't matter at all !!!

Can you tell me what the M2 is???
Also why you think the fiat system would be necessary, when Iraq seams to be in pretty good shape after so much debt has been forgiven. Articles have come out about an additional 100 billion barrels of reserve oil to add to their 116 BB of oil reserve known about. What I have read, is that Iraq could be #1 not #3. Don't you think this is a major backing for the Dinar to take a strong RV?
After all, the Dinar was at a $3.22 rate when Saddam was in power, with an export of 2mbd, by the end of this year they are expecting to export 3mbd, and within the next few years export up to 6mbd. This my friend is not a country with nothing to back their currency.

Originally Posted by mike brown

found this on the " other " forum, hope it's not a re-postThe Ministry of Commerce said that next month will witness the implementation of a special program to activate trade relations between Iraq and various countries around the world.

A source in the ministry said in a press statement that "this program prepared by the government would include all countries of the world, especially the neighboring countries to develop economic and commercial relations with them as there will be a joint bilateral committees with those States as well as increasing business contracts ..

He added: "The coming days will witness the meetings between the Iraqi government delegations and a number of countries of the world, especially the neighboring countries, to discuss joint working papers between Iraq and those countries", stressing: "Iraq's desire to develop all economic and trade relations with the world countries and the relations that were cut during the past years to gain the experience of various countries of the world in developing the economy, supporting the private sector and to taking advantage of investment law which was approved some months ago.

It is noteworthy that Iraq is seeking to join the World Trade Organization after obtaining the observer status in the organization in a step considered a prelude to reviving the Iraqi economy and the reconstruction of Iraq.__________________

Mike, thanks for this one.
This, I think, is going to get the ball rolling. I know its just one more step, but, THIS IS REALLY ENCOURAGING. I was getting the feeling that we were going to just coast for another year, but to instigate something on this magnitude fairly well makes this a new ball game. Better get the rules set and right going into to it.

Originally Posted by ordinaryseawoman

Hi guys I'm back--on the ship and should be able to check in regularly...Would someone please fill me in on the last couple of days..internet is soooo slow on the ship and reading back through the posts takes too much time with others waiting to use the computers...

What happened with the ICI? How are we looking? Anybody have a new timetable??

Thanks! Cheers Tracy

I believe the answer to all of your questions is "JACK SQUAT". Condoleza Rice winked at the Syrian foreign minister though.