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

Ok everyone, would just love to get to the bottom of all this without upsetting anyone....as we are all here for the same thing REVALUATION of the dinar, first up we have RR and SGS by different sources of feet on the ground, supporting the fact that it is all signed and sealed, in fact partying on the strength of it...Now correct me if I am wrong....with a rate of 3.45 dollars to 1 Dinar
Yet which I believe would work out at a different exchange rate, SGS has quoted this :-

Originally Posted by Raditz View Post
I am one of those that have felt that we would be back at 1260!
And what a timing of doing that!

1 June, is a friday. Banks closed and they will have time to get ready.
rumours says the RV has been signed, ISX to start!

put me down for 10dollars on this weekend!

Now I was of the impression that the budget was set on this rate, and if there is a reval set from this, I thought it was going to be $1.26 to 1 Dinar, please explain to me....where my thoughts are wrong as SGS replied with this..

Originally Posted by shotgunsusie

glad to see you now realize why we are already partyin in florida!!!!
woOTTTTTTTT!!!!!!!!!!!!

Could someone please try to explain why my thoughts are flawed as I cannot understand this for the life of me at the moment.....I am confident of the Reval.....but still feel very sure the Oil Law has to be passed first....Would appreciate someone explaining without flaming...!!
FYI This not having a pop at anyone, just trying to work it all out..RR..you did say I should ask if I had a question..!!

Originally Posted by Hardwood

My dinar are still worth diddly.

Tell me how you are now newly rich and we are not?

Perhaps you could share more with us?

Have fun anyways!

It all depends on how many dinars you hold.

If you bought 20,000,000 dinars when in was at 1470 it would have cost you $13,600.00.
That same 20,000,000 at todays rate of 1260 is $15,800.00.

That is a gain of $2,200.00

Newly found riches!

Originally Posted by darock0116

The Federal Government, in coordination with the regions governments, shall finalize the requirements needed to implement this law and activate the entities mentioned in the law in a time period not exceeding the end of May 2007. In case this deadline was not met, the Iraqi Prime Minister shall meet with the president of Kurdistan Region to implement the law within one month and reach a solution based on one of the following options:
a. In case article 5 was not finalized by the deadline of May 31st 2007, the two parties shall have the right to sign Exploration and Production Contracts in accordance to the constitution, this law, and the general principles of contracts' models (the first option).
b. Extend the time period mention above.

Hands off Iraqi oil: Iraqi Cabinet resolution on Oil Law

Thanks for re-posting this. I just couldn't remember thought there were three and their abilities had no limit. So maybe this isn't the post I was looking for afterall - thanks anyway. Good to see you.

Originally Posted by Bubba Dinar

SO, WHERE IS THE RV?

RR mentioned that its sitting on Shabibi's desk signed, just not yet delivered.
Do a search to verify.

Originally Posted by darock0116

The Federal Government, in coordination with the regions governments, shall finalize the requirements needed to implement this law and activate the entities mentioned in the law in a time period not exceeding the end of May 2007. In case this deadline was not met, the Iraqi Prime Minister shall meet with the president of Kurdistan Region to implement the law within one month and reach a solution based on one of the following options:
a. In case article 5 was not finalized by the deadline of May 31st 2007, the two parties shall have the right to sign Exploration and Production Contracts in accordance to the constitution, this law, and the general principles of contracts' models (the first option).
b. Extend the time period mention above.

Hands off Iraqi oil: Iraqi Cabinet resolution on Oil Law

Originally Posted by shotgunsusie

no mention of an extension anywhere is there???
if they have the right to sign the contracts thats as good as saying the money is in the bank. congratulations boys and girls, your dreams are coming true.

Not bashing here I want it to go up as much as anybody, I am still excited about the investment and I am in for the long haul.

But my question is why are we not highlighting all of the article, one big piece of information was left out "b. Extend the time period mention above". I am sorry but being in this investment as long as I have and I know all of you have. When Iraqis have a chance to extend or push that means they will use that option every time. So I would not get to excited yet.

Dinar-Excited

Originally Posted by Dinar-Excited

Not bashing here I want it to go up as much as anybody, I am still excited about the investment and I am in for the long haul.

But my question is why are we not highlighting all of the article, one big piece of information was left out "b. Extend the time period mention above". I am sorry but being in this investment as long as I have and I know all of you have. When Iraqis have a chance to extend or push that means they will us that option every time. So I would not get to excited yet.

Dinar-Excited

I was beginning to wonder when you would be back.

Originally Posted by choochie

It all depends on how many dinars you hold.

If you bought 20,000,000 dinars when in was at 1470 it would have cost you $13,600.00.
That same 20,000,000 at todays rate of 1260 is $15,800.00.

That is a gain of $2,200.00

Newly found riches!

Move your decimal over one place and that's about where I stand.

A gain of $220 would be eaten up in an exchange to cover the "spread" so I'd call my investment a "break even" so far.

Just prodding SGS for some more clarification of why the partying before the RV.....

A local news story today spoke of a woman who spent hundreds of thousands of dollars when a local hospital made a $2,000,000 deposit into her bank account by accident. She moved the money into a different account, opened a couple IRA's, bought a couple Land Rovers and limo rides....

Now she's being charged with a crime. She thought she was rich and celebrated! Now she's fighting for her freedom. She should never have thought she was rich until the mistake was found to be in her favor (which she knew it wasn't, but spent the money anyway).

I think it's great that SGS thinks she's rich too! But I'll feel equally sorry for her if the ship doesn't come in.

Me? I'll spend my riches when I change the Dinar in my safe deposit box into cold hard US cash!

Thank you.

Coalition Forces Hand Over Security Control of 3 Iraqi ProvincesBy VOA News
30 May 2007


Iraqi soldiers search a car in Baghdad, 30 May 2007U.S.-led coalition forces in Iraq have handed over security responsibilities for three northern provinces to the autonomous Kurdistan government.
Iraqi National Security Advisor Mowaffak al-Rubaie said the central government in Baghdad and the Kurdish government overcame many obstacles ahead of the transfer of Dohuk, Irbil and Sulaymaniyah provinces.
Seven of Iraq's 18 provinces are now under Iraqi control.
President Bush held a video conference with Iraqi leaders, Prime Minister Nouri al-Maliki and Vice Presidents Adel Abdel Mahdi and Tareq al-Hashemi Wednesday and urged them to make progress on securing national unity and passing laws on sharing oil revenues.

VOA News - Coalition Forces Hand Over Security Control of 3 Iraqi Provinces

Originally Posted by ronbo

I was beginning to wonder when you would be back.

Hi Rondo,

I am back thanks for the pm.

Dinar-Excited

Student Vice-Chairman of the Investment Committee in the House of Representatives of Iraq, Tuesday, the Kuwaiti government to drop the debt on Iraq resulting from the policy of the previous government, confirmed the need for Iraq to nearly 200 billion dollars to restore economic infrastructure and building the institutions of huge investment in the country.

".He said Abdul Hadi Hassani "call on the Kuwaiti government to drop the debt of Iraq because it is now investing the oil fields of southern Rumaila oilfields wells located on 94% of Iraqi territory and 6% fall on Kuwaiti territory."
واشار."He pointed out that "oil production for the southern Rumaila fields up to 8500 barrels of oil per day, while the production rate of the Kuwaiti side reach 350 thousand barrels a day." ".Hassani explained that the "Kuwaiti side digging wells for the extraction of oil in a horizontal famed for exploiting oil from Iraqi territory, including the Rumaila oilfields located on the southern side of Northern Iraq from Kuwait, it is easy to draw oil to the Kuwaiti wells adjacent."
".He added, "in the coming period will fall all Iraq's debt after the cancellation of 80% during the recent Sharm el-Sheikh."
الى.Hasani said that "Iraq is not a debt of the people or by the current government, which is the result of the policy pursued by arming the former regime by building military bases and military arsenal that have been inflicted upon the country and included it among the list of the city." .. Called on Arab countries to cancel debts.
".A "Anaul to the Arab Republic of Egypt to drop the debt on Iraq because it is not the capitalist countries, a poor country living on external assistance provided by States in the forefront of the United States of America."
.The Egyptian government announced following the Sharm El-Sheikh conference, which was held early this month that Iraq's debts amounting to about 800 million dollars, most of which are within the compensation Egyptian citizens who have been affected by the Iraq war, it does not have the right to waive them, With the other states participated in the overthrow Iraq's debts at different rates.
من.On the other hand, Deputy Chairman of the Investment Committee in the House of the need for Iraq to nearly 200 billion dollars to restore economic infrastructure and building the institutions of huge investment in the country, factor asphalt and petrochemicals, cement plants and others.
."He said that "the amount of 13 billion dollars allocated from the current budget to investment projects and services is a small amount compared with the actual need for the advancement of economic realities and investment in Iraq."
".Hasani added "the current budget year that are nearing the $ 42 billion budget, not the budget consumer reconstruction projects." ".He explained that "per capita income compared to the Iraqi few high material prices and despite the amendment were a little peace of staff salaries as well as a large armies of unemployed, which would lead to the availability of airspace for some to engage in armed Totals ... but the implementation of projects and the elimination of unemployment is the first solution, providing work is the second step. "
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