Thread: Iraq/Dinar News Until 5/31/2007 7:15 PM CST..

SGS, I have tracked this movement of funds to Rasheed Bank branches in atleast 4 different locations back in middle of March. I have a funny feeling regardless of what everyone is saying. I think that was the movement of lower denom. It was moved for purposes of ECONOMIC GROWTH. I dont have a link however I know this as a FACT, better then a news article. I dont know what denom was in the the cargo but it strikes me to be odd. I understand that there is curruption and the they move currency all the time. What is your take.......what have you been hearing and please tell me WHY you are so confident in this weekend.

The rate as for 27/5 is still 1259 at CBI

D.G. of Foreign Exchange Control

The 932 daily currency auction was held in the Central Bank of Iraq day Sunday 2007/5/27 so the results were as follows :

Details Notes
Number of banks 16 -----
Auction price selling dinar / US $ 1259 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 104.855.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 104.855.000 -----
Total offers for selling (US $) ------ -----

Originally Posted by goldraker

Told ya all! We are looking at least 3 to 5 years if it even happens at all!

And I bet you stayed up all night just so that you could be the first to say this.

Originally Posted by rvalreadydang

BAGHDAD - Hassan Al-Rubaie
قال . Ibrahim Musa Roses teaching in the Faculty of Administration and Economics University of Baghdad that inflation disastrous results reflected on the life of the community, compounded by uneven and generate incomes and reduction in the level of operating capacities and thereby diminishing employment opportunities, and unemployment rates are an economic indicator, which reflects the good performance of the economic policy of the government The trends economics




ود.He added in a lecture he delivered in a specialized symposium on the effects of inflation and its impact on the economic situation of living that is durable swap between the inflation rate low and the unemployment rate is high and vice versa and that the stability and growth not only bring in a stabilization of cash.
وأن.And the case is the cause of the continuous rise in prices is enormous and significant expansion in the money supply in quantities greater than demand plus Nakecudi that the model must be based on a function of the stable cash balances real and such stocks is supposed to be a function of the level of real income and the opportunity costs retention money.
ولذلكومن أبرزها:He therefore called roses to the study and analysis of inflation in the light of the structural composition of the national economy should be seen as a result of the limited number of bottlenecks and constraints in the national economy which is imperative in any economy trying conditions to grow rapidly in the presence of bottlenecks or restrictions, most notably :
-عدم.- Inelastic supply of food due to increased demand, which can, for example, secure the agricultural sector due to structural constraints of this sector and could not respond to requests broad result of high demand.
-قيد.- Under the foreign currency shortage great sense and not available to cover imports due to serious shortage of production and the risk rises in the material and the lack of balance in the balance of payments paid to ease its currency and the increase of inflationary pressures.
اما..The third limitation is associated with the lack of internal financial resources (budget deficit) any inadequacy in government revenue to offset the growth rates and spending ..
. Roses also stressed that the ways and means of addressing a result of inflation, which causes many to be linked to the expansion of the money supply, achieving economic stability must be cemented through the building and the Iraqi monetary unit value (the dinar) at the foreign currency exchange rate and strengthen and reduce inflation only with controlling transnational phenomenon and monetary stability monetary growth to achieve economic stability. It is the responsibility of monetary policy, which should make the system more flexible exchange system from its current working towards gradual ascent for the benefit of the Iraqi dinar what ultimately creates a stable economic climate provides prosperity and optimism and growth of the Iraqi economy, it is understood from the analysis of Dr. Ibrahim Roses that with the procedures the Central Bank to strengthen the value of the dinar Iraqi against foreign currencies.

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

thats right boys and girls. leave your lop thoughts behind and join the procession to the caymans!!!!!

Originally Posted by cashNsoon

SGS, I have tracked this movement of funds to Rasheed Bank branches in atleast 4 different locations back in middle of March. I have a funny feeling regardless of what everyone is saying. I think that was the movement of lower denom. It was moved for purposes of ECONOMIC GROWTH. I dont have a link however I know this as a FACT, better then a news article. I dont know what denom was in the the cargo but it strikes me to be odd. I understand that there is curruption and the they move currency all the time. What is your take.......what have you been hearing and please tell me WHY you are so confident in this weekend.

confidence entered into me after i had heard THE rumor and came to the board to see the post of the pension law being enforced. i knew at that moment THE rumor was true. have i heard more? yes. is it good? yes.

Originally Posted by shotgunsusie

confidence entered into me after i had heard THE rumor and came to the board to see the post of the pension law being enforced. i knew at that moment THE rumor was true. have i heard more? yes. is it good? yes.

Thanks.......

Number of banks 16 -----
Auction price selling dinar / US $ 1259 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 104.855.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 104.855.000 -----
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"


An intersting note* This is the 4th largest auction the CBI has had since we have all been closely watching the CBI reval plan. I find it interesting that so much money (dinars) were taken out on what might be the eve of a reval. Goes against the theory that money supply is drying up, or it could be the CBI's last big push before "our day" becomes a reality. Again, it's a contraditon to the logic that we assume the CBI is following.


10.80 Trillion taken out and still the Party has not started


1. "0" Dinar rate change today, it was 1259, it is now 1259

2. A (net) worth of dinars, IQD - 132,012,445,000 pulled out of circulation today 5/27/07.

3. 16 banks participating today

4. 151st auction since the beginning of CBI's reval plan

5. 239 days into the CBI's reval plan. (Seven Months +)

6. 10,808,926,368,000 dinars pulled from circulation !!

6A. Conservative ESTIMATE of Dinars still in circulation or controlled by the CBI 6,191,073,632,000

7. "0" Dinars back into circulation today

8. 218 dinar change since Oct 1st (baseline was 1477) 14.759% 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 1259 at the end of last week, 1259 so far this week.

10. 10 point drop in the month of May. Ended at 1269 in April, now stands at 1259
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

Yup, i think these "big" auction have something to do with the revaluation, cause you know, banks will be needing Dinars all over the world and i think not more than 20 banks have the currency at the moment, think about it, if the Dinar gets over a dollar all banks worldwide will have to buy Dinars and start exchanging them. Gooooood luck to all, and thank you Susan for the information you are giving us. Also thanks to Socata.

Parliamentary sources : oil law may not approve except after two months

(صوت العراق) - 27-05-2007

(Voice of Iraq) - 27-05-2007

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الشهرستاني يؤكد أن 80% من النفط سيكون للشركة الوطنية ونواب يقولون عكس ذلك

Shahrastani confirms that 80% of the company's oil and national deputies say the opposite

بغداد - الصباح

Baghdad-Sabah.

يبدو ان قانون النفط لن يقر حسب الموعد الذي طالما ارادته جهات داخلية وخارجية وهو نهاية الشهر الجاري ، ما قد يؤدي الى ظهور تقاطعات خلال مناقشته تحت قبة مجلس النواب

It seems that the oil will not countenance the deadline as long as its internal and external views of the end of the month, may lead to the emergence of intersections during the discussion under the dome of the House of Representatives

وبحسب مصادر برلمانية فان لجنة النفط والغاز في المجلس قد ابلغت اقتصاديين بريطانيين ان التصويت على القانون ربما يتأخر شهرين او اكثر .وتعمل الحكومة من خلال حثها الدائم لاعضاء المجلس على الاسراع باصدار القوانين والتشريعات الضرورية حتى تتمكن من تنفيذ المشاريع والبرامج الموضوعة ضمن اولويات خططها الاستثمارية والخدمية .

According to parliamentary sources, the Oil and Gas Board had informed British economists that the vote on the law may be delayed two months or more. The government is working through the urging of members of the Permanent Council to expedite the enactment of laws and legislation necessary to be able to implement projects and programs within the priorities of their investment plans and service.

وقال نور الدين الحيالي النائب عن التوافق وعضو لجنة النفط لـ"الصباح " ان اللجنة التقت امس وفدا بريطانيا اكدوا له ان القانون يحتاج الى مزيد من الوقت لمناقشته اضافة الى ان المجلس ينتظر انتهاء اعمال لجنة التعديلات الدستورية بسبب وجود مادة تتعارض مع ما ينص عليه القانون فضلا عما ماتسفر عنه المباحثات بين الحكومة المركزية وحكومة اقليم كردستان .

Nur al-Din Alehyale deputy compatibility and member of the oil to "Assabah", the Committee met yesterday a delegation Great assured him that the law needed more time for discussion, in addition to the expected completion of the constitutional amendments because of the existence of a conflict with the provisions of the law as well as Matsafar in talks between the central government and the government of Kurdistan.

وكان وفد كردستاني برئاسة نجيرفان بارزاني رئيس وزراء اقليم كردستان قد اجرى مع مسؤولين في الحكومة المركزية مباحثات كان اهمها لقاء السيد نوري المالكي رئيس الوزراء بالوفد قبل عدة ايام .وبحسب تأكيدات الحيالي فان قانون النفط والغاز قد لايرى النور الا بعد شهرين او اكثر بعد قرار مجلس النواب بتمديد عمل لجنة التعديلات الدستورية الى شهر واحد.ويقول عضو اللجنة ان القانون يحتوي على ثلاثة انواع من العقود مع الشركات الاجنبية الاستثمارية هي :عقود الخدمة والمقايضة والمشاركة ، مؤكدا "ان اغلب البرلمانيين يؤيدون النوعين الاولين لانهما ينصان على ان تعمل الشركات الاجنبية اما عن طريق اجور يتفق عليها او اعطائها كميات من النفط كمقايضة عن عملها فيما ينص النوع الثالث المرفوض من اغلب البرلمانيين على استقاع 40% لصالح هذ الشركات لقاء تطويرها او انشائها حقول او مصافي النفط والغاز".

A delegation headed Ngervan Kurdistan Prime Minister Barzani of the Kurdistan had conducted with officials in the central government talks, especially for Mr. Prime Minister Nuri al-Maliki delegation several days ago. According to the law Alehyale assurances of oil and gas had collided with the light only after two months or more after the House resolution to extend the work of the constitutional amendments to one month. Committee member says that the law contains three types of contracts with foreign companies, the investment are : service contracts and swaps and participation, He emphasized that "the majority of parliamentarians support the first two types because they stipulate that foreign companies operating either through the wage agreed upon, or giving quantities of oil Kmagaeidah on its work with the Type III rejected most of the parliamentarians Astha 40% in favor of this company for upgraded or established fields or oil refineries and gas. "

الا ان وزير النفط حسين الشهرستاني نفى ذلك ،مشددا على ان قانون النفط المنتظر لا ينص على عقود تقاسم الإنتاج وسيضمن سيطرة شركة النفط الوطنية على 80 في المئة من الاحتياطيات النفطية.

However, the oil minister Hussein Shahrastani denied this, stressing that the expected oil is not provided for production sharing contracts will ensure control of the National Oil Company, 80% of the oil reserves.

واضاف الشهرستاني في تصريحات صحافية ادلى بها امس : هذا يعني أن 80 في المئة من الاحتياط النفطي المكتشف مخصص للشركة الوطنية العراقية، وهو يبطل الادعاء القائل ان القانون سيمهد للشركات الأجنبية الاستحواذ على نفط العراق،مشيرا الى ان اتفاقات استغلال الحقول النفطية الأخرى متروكة للمجلس الاتحادي للنفط والغاز.

He added Shahrastani said in press statements made yesterday : this means that 80% of the oil reserve discovered dedicated to the Iraqi national company, which invalidates the claim that the law will pave the foreign companies monopolizing the oil in Iraq, pointing out that the exploitation of oil fields other left of the federal oil and gas.

I made a modification to the title to be translated correctly, so the parlment says that the bill may be delayed for another 2 months.