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

Originally Posted by wciappetta

How dollarized are they really? If this was true you’d still have a huge black-market for dinar. We know this is virtually nonexistent. All transactions are conducted in dinar. And what losses would Merchants suffer? With a bold adjustment they simply adjust prices… in fact it’s the slow dribble that got merchants hot. Remember the complaints of conducting business and writing contracts as the value changed day to day?

As far as exports look forget it it’s oil 95 % export, which is the very reason they can RV high. The slow dribble growth at some point will fuel further speculation which is something that Central bank governors have on more than one occasion said they wish to avoid.

Plus what about the IMF wanting to end the program and article IV discussions? The low rate doesn’t fit the economic model for the region.

Also this person wishes to accept the official record as accurate and this cannot be so, no way....if scoatias number are even close there is no way the official record is legit. like i've said before it's not in the CBI's interest to publish accurate figures at this time. so don't trust them. even the IMF says its perfectly ok to use deception as a valid ploy to ward off speculation.

Sorry I’m not indulging into this scenario one bit.

this has really brightened my day,didn't want to believe this person,and i didn't,thanks for putting your 2cents in and sharing with us!!!!
Sarah!!

Interesting,

Given the truth is starting to slip out on Saudi Arabia not disclosing the truth about their oil reserves, and now we are hearing the same about Iran, sure puts Iraq on top of the list as number one in proven oil reserves, which will bode well for all very soon. This says it all below.

Iranian Oil Expert Reveals Devastating Secret

One of the people who made that reality crystal clear to Iran's new leaders was Dr. Ali Morteza Samsam Bakhtiari. He started working for the National Iranian Oil Co. back when the Shah was in power. And his expertise was valuable enough that when the ayatollahs took over, they kept him on. For 35 years, he worked for the company in a variety of senior positions until he was forced out by a mandatory retirement age.
-------------------------------------------------------------------------
Iran's "Massive" Oil Reserves - a Big Lie!
"As for Iran, the usually accepted official 132 billion barrels is almost 100 billion barrels over any realistic assay."

- Dr. Ali Morteza Samsam Bakhtiari, retired senior energy expert, National Iranian Oil Co.

-------------------------------------------------------------------------
Now Dr. Bakhtiari is free to speak up to the rest of the world about what's really going on with Iran's oil supply. And the picture is not pretty.
Understand that the usual estimate of Iran's petroleum reserves - the one most often reported in the media - is 132.5 billion barrels. That's the second highest in the Middle East, after Saudi Arabia.
How much oil does Dr. Bakhtiari think Iran really has left?
Try somewhere between 35-45 billion barrels!
The dirty little secret Ahmadinejad is sitting on is that his country's oil industry is struggling day after day after day to keep its oil production somewhere between 3-3.5 million barrels per day.
Here's another part of the problem: Ahmadinejad is moving quickly to shut the major international oil companies like Royal Dutch/Shell out of his country. "I want to expand the domestic industry. In the oil field, the priority will be on domestic contractors, spe******ts, investors, and workers."
Translation: The international majors aren't welcome - even though they have experience and expertise in Iran that Iranians don't have. Ahmadinejad's nationalistic bravado is crippling his country's ability to tap into even the dwindling amount of oil it does have. So the Iranians can't open up the oil spigots even if they want to.
So...we know that Ahmadinejad is being straight with the world when he says his country needs nuclear energy. That brings us to the question of whether he's being straight when he says his country's nuclear program is for only peaceful purposes - or whether at the same time he's pursuing atomic weapons.
-------------------------------------------------------------------------
Nowhere to Go but Down
"It's going to be very challenging for Iran to increase oil production."

- Francisco Blanch, senior energy strategist, Merrill Lynch

-------------------------------------------------------------------------

I'm here to tell you right now that whether he is or not really doesn't matter.
Because peaceful or not, Ahmadinejad won't give up his nuclear program...and President Bush won't let him pursue it.
These are two headstrong leaders, and only one can get his way.
A confrontation between the United States and Iran is all but inevitable - with a disastrous outcome.

Good luck and health to all, Mike

With all the delays and now the middle east is heating up fast and Iran
is about to get crushed: If it doesn't r/v by the end of June
its all over. BUT I AM NOT SELLING JUST IN CASE !

Originally Posted by billknows

This is strictly a status-quo opinion piece.
There is nothing mentioned here that hasn't re-hashed over and over by every other opinionated author.

He states that a low dinar value is an advantage, making Iraqi imports cheaper worldwide - no rush in going 1:1.

This tells me that his economic viewpoint is seriously flawed.

Internationalizing a currency has nothing to do with de-dollarizing - and certainly would not accelerate it!

He says that the higher the IQD goes, the weaker the USD will be against foreign currency. Sounds pretty fancy but it means absolutely nothing. If the USD drops against other currencies - SO WHAT! It will have no impact on Iraq and the future of their currency.

He finishes by saying that the biggest gains will be in the ISX - which means he may not be holding any dinar, but instead, has likely chosen to invest in the ISX.

Regrettably, this news piece adds nothing to our knowledge base!

I believe it was posted here strictly for its' possible negative impact on morale.

A lot of BS here!

Bill I for one agree with you, this is a HUGE amount of BS - Let me clarify, the original author( Investdinar) is from that other forum where he has been one of the biggest naysayers until all of the good news out of Iraq the last few months nudged him into the Grow-Slow camp ( the place where former naysayers think they still have credability) I think the only reason people take him seriously is because he has a stern looking avatar. William Knowles HE IS NOT! You might as well listen to Munnybags without the model!

Investindinar has '200+ million dinar worth in stock and counting' according to his profile.

Heck - of course he believes the ISX is the holy grail. I have shares - but - thats .............

.

A Month's Delay....
To solve contentious points

البرلمان يمدد عمل لجنة مراجعة الدستور شهراً واحداً

Parliament extended the work of the Constitutional Review Commission one month

بغداد - الصباح

Baghdad-Sabah.

قرر مجلس النواب تمديد عمل لجنة مراجعة الدستور شهراً واحداً لايجاد حلول للمواد الخلافية بين قادة الكتل السياسية من جهة واعضاء اللجنة من جهة اخرى.

The House decided to extend the work of the Constitutional Review Commission one month to find solutions to controversial material between the leaders of the political blocs on one hand and members of the Commission on the other hand.

وكان مسعود بارزاني رئيس اقليم كردستان قد جدد امس رفضه تأجيل المادة 140 من الدستور الخاصة بكركوك .

It was Massoud Barzani, head of Kurdistan region has been renewed yesterday his refusal to postpone Article 140 of the Constitution of Kirkuk.

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


Reviewed MP Humam Hamudi Chairman of the Committee on Amendments to the Constitution what has been accomplished in the last term of the Committee's work, noting in his speech that the Commission was able to resolve more than five important issues with the amendment has been more than 60 articles in the deletion, addition or amendment added that the committee was in agreement materials such as task imports provinces and territories and the formation of armed groups on a temporary basis and exceptional circumstance as well as the powers of the Federation Council and the subject of rights and freedoms and powers of the provinces.

و اعلن رئيس اللجنة ان المواد التي لم تحسم لحد الان هي المادة ( 140) الخاصة بكركوك والمادة التي تتعلق بصلاحيات رئيس الجمهورية اذ تمنى رئيس اللجنة على رئيس مجلس النواب ان يتدخل لحل المادتين المذكورتين.

Chairman of the Committee, announced that the articles had not resolved so far is Article (140) of Kirkuk and article concerning the powers the President of the Republic as Chairman of the Committee wished to House Speaker to intervene to solve the mentioned articles.

وبسبب عدم انجاز اللجنة لمجمل اعمالها صوت مجلس النواب على منح اللجنة مدة شهر لانجاز ما تبقى من اعمالها على ان تستمر في عقد اجتماعاتها.

Because of the failure to complete the overall work of the Chamber of Deputies voted to give the Commission a month to complete the remaining work to continue to hold meetings.

من جانبه اشار النائب عن الائتلاف رضا جواد تقي الى ان قادة الكتل السياسية سيناقشون تقرير اللجنة الخاصة بالتعديلات الدستورية واضافة التعديلات اللازمة اليه من اجل الوصول الى اتفاق بهذا الشان.

For his part, the deputy coalition Ridha Jawad Taqi noted that the leaders of the political blocs will discuss the report of the Special Constitutional Reforms In addition to the necessary amendments in order to reach agreement on the matter.

وقال في تصريح لـ " الصباح " : ان مسألة حل بعض الخلافات في الدستور سيتم عبر قادة الكتل بعد وصول التقرير اليهم واختتام اعمال اللجنة الدستورية حيث سيتم عرضه على هيئة الرئاسة بعد ذلك مبديا تفاؤله بالوصول الى حل لبعض الخلافات وفق الاليات الدستورية والتوافقات السياسية بين الكتل.

He said in a statement to "Assabah" : that the issue resolved some differences in the Constitution would be through leaders blocs after the arrival of the report to them and the conclusion of the Constitutional Commission which will be presented to the Presidency after expressing his optimism access to resolving some differences according to the constitutional mechanisms and the synergies between the political blocs.

الى ذلك صوت اعضاء المجلس على مشروع قانون ضريبة اعادة اعمار العراق ومقترح قانون الغاء قرار مجلس قيادة الثورة المنحل رقم (91) لسنة 1977 ومشروع قانون التعديل الخامس لقانون التنفيذ رقم (45 ) لسنة 1980 ومشروع قانون التعديل الاول لقانون انضباط موظفي الدولة والقطاع الاشتراكي ومشروع قانون تعديل قانون الخدمة المدنية رقم (24 ) لسنة 1960 بخصوص المادة 49 كما تمت في الجلسة القراءة الاولى لمجموعة مقترحات قوانين منها الغاء قوانين مجلس قيادة الثورة المنحل والمرقمة (1019) لسنة 1979 و 1283 لسنة 1980 و 1203 لسنة 1983 و1253 لسنة 1985.

So members of the Council voted on the draft tax law rebuilding Iraq and the proposed abolition of Revolution Command Council decision dissolved No. (91) for 1977 and a draft law Fifth Amendment to the Execution Law No. (45) for 1980 and a draft law to the First Amendment Law discipline staff and the public sector and a draft law amending the law Service Civil No. (24) of 1960 concerning Article 49 has also been at the first reading of the package of proposals include the repeal of the laws of the laws of the Revolution Command Council dissolved numbered (1019) to 1979 and 1283 to 1980 and 1203 to 1983 and 1253 to 1985.

و تمت ايضا القراءة الثانية لمقترح قانون الغاء قراري مجلس قيادة الثورة المنحل رقم 690 لسنة 1981 و 222 لسنة 1977 و 817 لسنة 1981 و القراءة الثانية لمشروع قانون اصول المحاكمات العسكري و مقترح قانون تعديل قانون المحكمة الجنائية العراقية العليا رقم عشرة لسنة 2005.

And was also the second reading of the proposed bill on the cancellation of the Revolution Command Council resolutions No. 690 of the dissolved in 1981 and 222 of 1977 and 817 of 1981 and the second reading of the draft Code of Military and proposed Act to amend the Supreme Iraqi Criminal Court No. session of 2005.

Originally Posted by Mike5200

Bill I for one agree with you, this is a HUGE amount of BS - Let me clarify, the original author( Investdinar) is from that other forum where he has been one of the biggest naysayers until all of the good news out of Iraq the last few months nudged him into the Grow-Slow camp ( the place where former naysayers think they still have credability) I think the only reason people take him seriously is because he has a stern looking avatar. William Knowles HE IS NOT! You might as well listen to Munnybags without the model!

Thing is, if your not holding Cash Dinars, you will not enjoy the Rv..The Stock will not Rv and money in the Bank will not Rv. Only Cash will Rv!!

different conference i believe.

Originally Posted by Hkp

Hi All, Is this news article old as it is from Iraqupdates site ? I know at times this site publishes articles that are 1 to 2 weeks old.

It states at the bottom of the Gulf Petrochemicals Conference on June 4th-5th 2007.

I thought that was changed to later part in September. Maybe it has changed again. I hope it has changed again for the fact that the HCL will be passed soon...Maybe they know something we don't....Hmmmmmmmmm

Please advise.

***************************

New MEED rankings table for Middle East's national oil companies
Saudi Arabia, 23 May 2007 (AME Info FZ LLC)

Saudi Aramco is the Middle East's best-run national oil company (NOC), according to an exclusive analysis of the region's national oil companies carried out by the Middle East Economic Digest (MEED).

The study scored NOC's in ten key areas of activity, including commercial performance, downstream investment, freedom from political interference, commitment to staff training, and environmental protection. Scores out of ten were awarded under each of the criteria, with these then analysed to provide an overall company performance ranking.

Saudi Arabia's state oil company, Saudi Aramco, scored highest in a comprehensive survey of the region's ten biggest national oil companies carried out in early May. Combining statistical performance indicators with expert opinion from top industry executives in the public and private sector, leading analysts and senior academics, the survey put Aramco at the top with a score of 80 out of a possible 100.

MEED's editor-in-chief Sean Brierley commented,
'The Saudi oil giant has outperformed its regional counterparts in almost all categories. When it comes to production, technology development and commercial performance it is head and shoulders above the competition."
'Saudi Aramco falls short on just two measures - its effectiveness in partnering with other companies and its record on the environment. Time will tell whether they will replicate here, the other high standards they have set.'
The Abu Dhabi National Oil Company (ADNOC) and Qatar Petroleum were tied in second place with 73 points, and Algeria's Sonatrach and Petroleum Development Oman also scored well. However, the study went on to reveal that the region's other five major producers all failed to make the grade, with the national oil companies of Kuwait, Egypt and Iraq being the worst performers.

The top ten ranking list reads (scores out of 100):
Saudi Aramco 80/100
ADNOC (Abu Dhabi) 73/100
2. Qatar Petroleum 73/100
Sonatrach (Algeria) 63/100
Petroleum Development Oman 60/100
National Iran Oil Company 46/100
6. National Oil Corporation (Libya) 46/100
Egyptian General Petroleum Corporation 45/100
8. Iraq National Oil Company 45/100
8. Kuwait Petroleum Corporation 45/100

The study highlighted the crucial importance of political independence, quality of personnel and development of technology to the performance of state oil firms. All were notable failings in the worst-ranked companies.
It also drew attention to the challenge presented to international oil companies by the onset of an era in which national oil companies are expected to dominate. If the major foreign oil firms are to maintain their strategic position in the market, they too will need to adapt to the new environment.
The study is published in the latest issue of MEED (out in the Middle East on Sunday 20 May) and is available both in print and online versions.
It is published as MEED prepares to host the region's leading petrochemicals conference 'Gulf Petrochemicals 2007' at the Ritz Carlton, Bahrain Hotel & Spa, on 4th-5th June 2007.



New MEED rankings table for Middle East's national oil companies | Iraq Updates

This is not the Oil Law.....Is It ???


A Month's Delay....
To solve contentious points


البرلمان يمدد عمل لجنة مراجعة الدستور شهراً واحداً


Parliament extended the work of the Constitutional Review Commission one month


بغداد - الصباح


Baghdad-Sabah.


قرر مجلس النواب تمديد عمل لجنة مراجعة الدستور شهراً واحداً لايجاد حلول للمواد الخلافية بين قادة الكتل السياسية من جهة واعضاء اللجنة من جهة اخرى.


The House decided to extend the work of the Constitutional Review Commission one month to find solutions to controversial material between the leaders of the political blocs on one hand and members of the Commission on the other hand.
وكان مسعود بارزاني رئيس اقليم كردستان قد جدد امس رفضه تأجيل المادة 140 من الدستور الخاصة بكركوك .


It was Massoud Barzani, head of Kurdistan region has been renewed yesterday his refusal to postpone Article 140 of the Constitution of Kirkuk.


Translated version of Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Originally Posted by Ranger III

Last September, Susie reported rumors that indicated a revaluation to .98
of the euro was imminent. Those rumors were later corroborated by other
sources.

In retrospect think how much stronger our position is now than it was then.
Since September:

a. The FIL has been enacted and passed unanimously by Parliament;

b. The International Compact was finished earlier this month;

c. Approximately 10,600,000,000,000 in dinars have been taken out of
circulation;

d. Approximately $140,000,000,000 in debt has reportedly been forgiven;

e. The HCL has been enacted and is poised to be passed by Parliament
any day now;

f. The ISX is about to go electronic in early June and to quintuple its
trading sessions per week;

g. Anbar Province has largely been pacified and Al Qaeda is now dislodged
and clearly on the run there;

h. There was a traffic jam in the Mansour District of Baghdad a couple
weeks ago - owing to an overthrow crowd at an amusement park there;

i. The Democrats have been defeated in their attempt to have us
surrender;

j. A Norweigian oil company is going to start pumping oil in the Kurdish
region of Iraq in June (next month);

k. A $3,000,000,000 airport is planned for Karbala;

l. Currency support for the dinar has risen from approximately $11 billion
to $21 billion, which does not count Iraq's gold backup in Switzerland;

m. Saddam Hussein was executed and is not coming back;

n. A budget was passed and finalized for 2007;

o. Shabibi has the exchange rate down to 1259; and

p. Iraq is about to be admitted into the WTO.

My bottom-line point is that if .98 of the euro was possible in September, 2006, in light of the above progress it surely is possible, and I would say probable, now.

5 chars