Thread: Iraq/Dinar News until 5/23/07 Midnight CST

Originally Posted by shotgunsusie

not quite. the issue is they dont have the iraq meeting listed on the calendar at all. in place of where it should be it says india but the link is dead. they have been known to hide stuff from us about iraq, always.

OK I have a question for you smart ones out there. What the hell is going on. Either Iraq has chose to smack the hand that feeds them within the last 24 hrs and on a spirral downward, OR they are feeding the speculators with a dose of bail out now as a last ditch effort to pull more Dinar in. IMHO there is to much riding on our elections and our support to them to turn there backs on success now. WAY to much conflicting news and just plain out craziness. I smell something fishy here, does anyone agree with how I am feeling???????? The Dinar will reval no doubt in my mind. PUMP THAT OIL!

Originally Posted by HyiperOne

Price is still on 1260
22/5/2007

Still on 1260 eh? Looks like it will stay that way for a while or until they implement the budget.

Originally Posted by bultn

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Oh didnt know that.........dont need none of that!!!

Announcement No.(929)

D.G. of Foreign Exchange Control

The 929 daily currency auction was held in the Central Bank of Iraq day Tuesday 2007/5/22 so the results were as follows :

Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1260 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 42.600.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 42.600.000 -----
Total offers for selling (US $) ------ -----

Originally Posted by fredgwest1999

STATEMENT OF PAUL WOLFOWITZ

I am pleased that after reviewing all the evidence the Executive Directors of the World Bank Group have accepted my assurance that I acted ethically and in good faith in what I believed were the best interests of the institution, including protecting the rights of a valued staff member.
The poorest people of the world, especially in Sub-Saharan Africa deserve the very best that we can deliver. Now it is necessary to find a way to move forward.
To do that, I have concluded that it is in the best interests of those whom this institution serves for that mission to be carried forward under new leadership. Therefore, I am announcing today that I will resign as President of the World Bank Group effective at the end of the fiscal year (June 30, 2007).

Permanent URL for this page: http://go.worldbank.org/VGPIH0RZ70

1. Hmm, Wolfy is resigning at the end of June which corresponds with the end of the fiscal year.

2. Tony Blair is resigning on June 27th and may possibly be taking Wolfy's spot over.

3. HCL almost done (Beginning of June).

4. ISX about to open (Beginning of June).

5. What else am I leaving out???

Oh and someone refresh my memory, but isn't there historical precident for past revals occuring at the end/beginning of a fiscal year....

Sure are a lot of coincidences occurring....

to sum up:

thats two unusually (?) low autions in a row, and no change in rate. CBI has hit the target rate, and demonstrated stability to themselves and the international community (dog and pony show its been called here).

new budget about to be introduced the "investment budget"

over 10Trillion out of circulation.

let us hope tomorrow brings the same: an under 50M auction and no rate change.

looks like this baby is finally drying up, had to happen eventually didnt it?

lord knows Iraq has enough foreign currency in reserves in the CBI, tons of Gold somewhere, and oil in the ground to bank whatever rate they see fit.

Security situation is improving, but needs an economic "surge" to complete the picture...

oh, and the stockmarket opening to foreign investors in June, with electronic systems for that and the banks in place.

Oil law now in front of parliament?

article 140 being finally acted on to happy the kurds into unblocking passage of HCL

i smell a reval cooking...

cheers all!

Originally Posted by garthstar

to sum up:

thats two unusually (?) low autions in a row, and no change in rate. CBI has hit the target rate, and demonstrated stability to themselves and the international community (dog and pony show its been called here).

new budget about to be introduced the "investment budget"

over 10Trillion out of circulation.

let us hope tomorrow brings the same: an under 50M auction and no rate change.

looks like this baby is finally drying up, had to happen eventually didnt it?

lord knows Iraq has enough foreign currency in reserves in the CBI, tons of Gold somewhere, and oil in the ground to bank whatever rate they see fit.

Security situation is improving, but needs an economic "surge" to complete the picture...

oh, and the stockmarket opening to foreign investors in June, with electronic systems for that and the banks in place.

Oil law now in front of parliament?

article 140 being finally acted on to happy the kurds into unblocking passage of HCL

i smell a reval cooking...

cheers all!

Sound logical arguments and I hope your right however Iraq being Iraq who knows but here's to hope for them and for us

Originally Posted by shotgunsusie

not quite. the issue is they dont have the iraq meeting listed on the calendar at all. in place of where it should be it says india but the link is dead. they have been known to hide stuff from us about iraq, always.

It wasn't hidden - on the LEFT of the page and qoted as follows:
MEETINGS
21 – 25 May 2007
Monday 21 May 2007
10 am
Goods Council
Tuesday 22 May 2007
10 am
Dispute Settlement Body
Wednesday 23 May 2007
9.30 am
India: Trade policy Review
Thursday 24 May 2007
3 pm
Trade and Development Committee (dedicated session)
Friday 25 May 2007
9.30 am
India: Trade policy Review
10 am
Trade and Development Committee
10 am
Iraq: Membership negotiations (Working Party meeting)

So the meeting on the 25th is still on.

Number of banks 15 -----
Auction price selling dinar / US $ 1260 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 42.600.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 42.600.000 -----
Total offers for selling (US $) ------ -----

Gooooooooooooooood Morning Rolclub


"The More They Take, The More We Make"
"Stay the Course, its the difference between Winners and whiners"


10.53 Trillion taken out and still the Party has not started


1. "0" Dinar rate change today, it was 1260, it is now 1260

2. A (net) worth of dinars, IQD - 53,676,000,000 pulled out of circulation today 5/22/07.

3. 15 banks participating today

4. 148th auction since the beginning of CBI's reval plan

5. 234 days into the CBI's reval plan. (Seven Months +)

6. 10,534,709,873,000 dinars pulled from circulation !!

6A. Conservative ESTIMATE of Dinars still in circulation or controlled by the CBI 6,465,290,127,000

7. "0" Dinars back into circulation today

8. 217 dinar change since Oct 1st (baseline was 1477) 14.691% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1260 at the end of last week, 1260 so far this week.

10. 9 point drop in the month of May. Ended at 1269 in April, now stands at 1260
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.
In April we saw a .3142% drop in the rate

2007 press releases
Creation of the Iraq Transition Assistance Office

May 15, 2007

By Executive Order on May 9, 2007, the President created The Iraq Transition Assistance Office (ITAO) as the successor organization to the Iraq Reconstruction Management Office (IRMO). The purpose of the ITAO is to perform the specific project of supporting executive departments and agencies in concluding remaining large infrastructure projects expeditiously in Iraq, to facilitate Iraq's transition to self-sufficiency, and to maintain an effective diplomatic presence in Iraq.

The ITAO coordinates and oversees all U.S. Government non-security related assistance for the Chief of Mission. The organization has fiduciary oversight over the approximately $3.0 billion remaining in the Iraq Reconstruction and Relief Fund (IRRF). The ITAO also ensures that U.S. Government assistance programs across all agencies are closely linked to the Mission strategy and are delivering desired results. Finally, the ITAO employs senior consultants assigned to essential services ministries with ongoing reconstruction projects who will oversee the successful completion of projects in their respective sectors.

Mark Tokola arrived in Baghdad at the beginning of May to assume his responsibilities as the Director of ITAO. Most recently, he was the Minister Counselor for Economic Affairs at the U.S. Embassy in London. Mr. Tokola was the Counselor for Political and Economic Affairs at the U.S. Embassy in Sarajevo, Bosnia-Herzegovina, from 1997 to 1999.