Thread: Iraq/Dinar Until June 9th 1PM CST

Originally Posted by fredgwest1999

Distribution paid to employees of the emergency former army

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Baghdad-Sabah.

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An official source at the Veterans Affairs at the Ministry of Defense that the distribution of the amount paid emergency temporary (19th) for the months (June-July 2007) between members of the former army of military and civilian personnel and Mwinyi retarder war officially registered in the rehabilitation center

(Except recruited in the state permanently or holding and of retired and deceased) will be effective on September 13 this June, The source explained that the branches of the Rafidain and Rashid bank allocated for this purpose will be in the process of distribution throughout the country.

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THIS IS AN UPDATE:

Distribution paid to employees of the emergency former army

بغداد - الصباح

Baghdad-Sabah.

official source at the Veterans Affairs at the Ministry of Defense that the distribution of the amount paid emergency temporary (19th) for the months (June-July 2007) between members of the former army of military and civilian personnel and Mwinyi retarder war officially registered in the rehabilitation center

Except recruited in the state permanently or holding and of retired and deceased) will be effective on September 13 this June*, The source explained that the branches of the Rafidain and Rashid bank allocated for this purpose will be in the process of distribution throughout the country.

NOTE: ATRICLE HEADINE READS:

as of the 13th of this month

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following table benefits sector salaries (NOT LISTED ON TRANSLATION PAGE AND I COULDN'T FIND THE CHART AS THAT MIGHT GIVE AN IMPORTANT CLUE TO THE RV SIZE>>>AS WAS COMMONLY REPORTED HERE LASY WEEK...IF YOU CAN FIND AND POST...WOULD APPREACIATE.TIA)

Originally Posted by PAn8tv

Oiling the wheels of war: smuggling becomes the real economy of Iraq

In his second dispatch from southern Iraq, Ghaith Abdul-Ahad investigates how illegal shipments fund militias and corrupt politicians

Saturday June 9, 2007
The Guardian


On the banks of the Shatt al-Arab in southern Iraq, a family business is thriving. For the Ashur, a small clan of about 50 families, it's worth several million dollars a week. Costs are steep, especially for security. But profits are tidy and business is booming.
The Ashur smuggle oil. For years under Saddam Hussein, they worked as mere guards at Abu Flus terminal at the mouth of the Gulf. But as the state collapsed after the US and British invasion in 2003 and economic anarchy set in, they took over the port and became the quasi-official authority there. Never have the family's fortunes flourished as in the last three years. They built their own underground oil tanks in their farms, where fuel tankers empty their cargoes to be pumped later into small pontoons. A cousin of the family estimates that they make about $5m (£2.5m) a week from smuggling oil.

When another tribe tried to take over the ports, the family hired gunmen from outside Basra to defend its fiefdom. "We were paying $250,000 every week for gunmen just to make sure that we keep our terminals and preserve our rights," said the cousin, Abu Harith.

The family operation is a dispiriting example of how large swaths of Iraq's economy and mineral wealth have vanished into a legal vacuum, where the state is absent, law enforcement is non-existent and the spoils are shared by politicians, militias and smuggler gangs.

To insulate their fortune, the clan uses the protection of Fadhila, the ruling party in Basra, which for more than a year ran the oil ministry in Baghdad. But it also takes care to have good relations with the rival Mahdi army.

Abu Harith described a typical operation: "I took a cleric with me, he was one of Moqtada's [al-Sadr, head of the Mahdi army] people, we ran into a police checkpoint, he rolled down the window and told the policeman 'we are on duty, from this car to the last car behind the tankers.' And that was it. We emptied the fuel into private underground tanks for the Ashur family.

"Moqtada's people are in control of Abu Flus port. You can't smuggle your diesel unless you pay them, and they collect a levy of up to $1,500 on each car before it can leave the port."

Contracts

Oil is not the only industry steeped in corruption. Businessmen in Basra say anything connected to the state requires payments to militias and parties. In construction, for example, Abu Harith said: "There are two deals with parties and militia; one, they give you the contract for a price but then you have to provide your own security; the other deal is that for a certain percentage of the contract they will provide you with gunmen. No other militia will attack you." In his last four contracts, he has paid $500,000 in bribes.

But oil is the biggest racket of all in a country with the world's second-largest reserves. Oil worth millions is being smuggled out of southern Iraq every day and sold on the black market. The proceeds fund militias, mobsters and corrupt politicians with cash that far outstrips the state's financial resources.

The smuggling also fuels factional fighting around Basra as each group tries to control its portion of the supply.

One tanker captain, who is in his second decade of oil smuggling and owns his own ship, told the Guardian how lucrative the trade could be. "The big profits are to be made in crude oil," he said. "You rent an oil tanker and after your first trip you can buy the tanker."

The infrastructure of smuggling was set up under Saddam in the late 1990s, during the UN sanctions, when illegal oil shipments became the main method of getting cash into the country. Smuggling was an officially condoned policy.

"We use the same methods we used during Saddam," said Ismail, a veteran smuggler. "Instead of Ba'athists and generals, it is now Shia militias and their cronies who are doing the business."

Several oil smugglers interviewed said the easiest and least profitable oil operations involved diesel and fuel oil. The oil is obtained from Iraqi refineries through official requests from politicians or by diverting fuel shipments for factories or fishing boats.

Another oil smuggler, Hussam, said these shipments were then emptied into small makeshift tanks in the Abu al-Khasib area, the deep river that leads to the Gulf. From there the oil is taken in small quantities to oil tankers at the mouth of the Gulf on al-Faw peninsula, which take it to refineries in Yemen, the United Arab Emirates or as far as India.

Much more lucrative and elaborate, however, is smuggling crude. This is most commonly stolen from the oil terminals, either by adding extra tonnes on top of the officially requested quantity or simply by providing fake paperwork for a phantom order.

The captain, who spe******es in crude smuggling, explained the process: "It depends on the officials manning the terminal when your tanker arrives. Usually it's a committee of three to four; they are all of one [political] party. Your contact with that party arranges everything in advance."

Once the tanker is filled, another official usually arrives - a surveyor hired by the government to inspect the cargo - who is bribed to pass everything off as legitimate. The route of the tanker then differs, depending on its papers.

The main risk is being stopped by patrolling US or British vessels. "If I have official papers then all is fine, even if I am carrying twice the stated shipment," said the captain. "When I don't have papers we cross into Iranian waters, we carry an Iranian flag and bribe the Iranian coastguard. It's a great business for them too. If we are arrested by the Iraqi navy, it's easy. They are involved in the party after all."

The price of the oil depends on how far the smugglers carry it towards deep water, where there is more risk of being caught. Each part of the business is controlled by militias and parties: from getting the oil out of refineries or terminals to getting it safely past the border guards and navy vessels. "You need someone to protect you," said the captain. "You need influence, otherwise you will be killed immediately."

Another Basra oil smuggler said: "When we transport oil on land in tankers we use official police cars to escort us - better to travel at night."

One former Iraqi oil industry insider said dealers made the biggest profits, while militias' took about 30%. "In each step and process of the oil industry in Iraq there is corruption, it's like a triangle: oilfields, depots and refineries.

"Oilfields in the south are under the control of Shia militias and their political parties, they smuggle crude oil through Basra directly. Some of the large depots are in Sunni heartlands, in Yusifiya and Baiji. Sunni insurgent groups, such as the Islamic Army in Yusifiya, take a cut in exchange for 'protection' - a bribe for not attacking the depots.

"Once the oil reaches refineries, we are back into Shia-controlled smuggling. Even when the petrol finally reaches the outlet, the Iraqis are paying extra to petrol station owners and by [doing] that benefiting corrupted militiamen."

Interesting,

This says it all, the politics and corruption run deep, just like in all governments, so with so much being lost to corruption within Iraq parliament, no wonder we are seeing so many delays, it is all about the bribes all these leaders take to delay the process of gov. which delays the restoration of dinar to former levels. We have seen this over and over with reshuffle announcement, yet no action yet.

Good luck and health to all, Mike

Originally Posted by Offshore-Wealth.com

Interesting,

This says it all, the politics and corruption run deep, just like in all governments, so with so much being lost to corruption within Iraq parliament, no wonder we are seeing so many delays, it is all about the bribes all these leaders take to delay the process of gov. which delays the restoration of dinar to former levels. We have seen this over and over with reshuffle announcement, yet no action yet.

Good luck and health to all, Mike

I can see your point. I am looking at it this way if my money is worthless
then you have to make your own way. If they would rv I feel most of the corruption might stay in check.

Economic Advisor to the Czech embassy was dropped on Iraq debt

Announced his country's readiness to implement the railway project Basra-Zakho and other plants

Source : Sabah Al-09/06/2007

The Economic Advisor to the Czech embassy in Iraq, his country's determination topple the entire debt on Iraq, pointing out that the volume of Czech exports has risen this year, reaching more than 30 million dollars.
And through Dr. Khalil Sniff his country's desire to contribute to the building and reconstruction of Iraq. Referring to the preparations of Czech companies establishment and rehabilitation of many Iraqi factories and companies, including a giant railway starts from Basra, including Baghdad, Mosul, leading to Zakho.

He explained that there are other preparations for the rehabilitation of tractor plant in Alexandria "Antar" to the establishment of a giant plant for the manufacture of cement and with international advanced in Dahuk, with production capacity of 7000 tons per day and a total value of $ 450 million.
Turning in his speech to relations between the Czech Republic are long in Iraq, which extends to the 1940s past.

The transition experience in his country wishing to utilize them in the development of the Iraqi economy, including through support for the private sector which has been able to fulfill the country to the level it has attained remarkable ..

Indian companies look businessmen on economic development

Expressed willingness to contribute building and the reconstruction of Iraq

Source : Sabah Al-09/06/2007

The International Federation of Iraqi businessmen and the Convention Brockula collaborative work with the Chamber of Commerce and the Federation of Indian industries included in the exchange of expertise and delegations and training.

This was announced by Russian President Hamid punitive after returning from India after participating in Iraqi economic delegation which visited recently headed by the Minister of Oil, Dr. Hussein Shahrastani, said : We have been holding a cooperation agreement on the sidelines of the visit.

Punitive further explained : that the Indian businessmen are eager to participate in the construction and reconstruction of Iraq, especially since they have full knowledge of the Iraqi promising market, India is also famous for many tech industries.

He said : We have asked the Indian side of the actors and participate in the building of Iraq Avenue through utilization of the investment law approved recently also offered a detailed explanation about the contents and benefits of the law.

He said businessmen delegation participating in the visit made field visits to a number of Indian companies and laboratories for the most notable developments realized there where Indian companies expressed their desire to promote commercial and industrial relations.

We found the opportunity to put the needs of Iraq where the companies showed their ability to supply Iraq with materials ration card.

The delegation briefed on one of the most prominent construction companies for the cost houses clothes lying established on an area identified 80-120 m and with international value of a housing unit 10 thousand dollars and expressed readiness to provide Iraq with labs turnkey construction and raw materials could be used to alleviate the housing crisis, As agreed with an Indian company to produce Alflorsenat marks Alfallouteh commensurate with the pressure of generators large and small where it operates 24 watts capacity and give stronger flares and serve the middle class and poor.

The cross at the end of the punitive talking about his admiration for the development of the India in the fields of industrial serve multiple campaign reconstructing Iraq and the possibility to utilize them in future.

Najaf governorate signed a contract with a Kuwaiti company to build tourist city in the province

Source : Voices of Iraq - 09/06/2007

Director of Information Najaf governorate, Saturday, the civil administration in the province, signed a contract to build an integrated tourist city with a hotel in the district east of Najaf, Kufa with a Kuwaiti company at $ 35 million.

He added Ahmed Deibel Saturday, "This signing during a visit by a delegation headed by Deputy maintain governor Abdel Hussein Abtan to Kuwait in early June June instant, and that the visit comes within the plan of the Civil Administration in Najaf to sign a series of contracts and memorandums of understanding with Kuwaiti investment companies, This collection of Najaf and Kuwait s investment one .. as well as contribute to the introduction of the Kuwaiti investment to the province to stimulate the private sector. "

Deibel and explained that "the delegation will discuss on the establishment of the Center for the Study quote for investment in Kuwait with the Najaf governorate .. addition to the central and southern governorates."

He pointed out that he was also agreed during the visit with a specialized company to build popular markets in general revival of Najaf appropriate amounts to alleviate the suffering of street vendors and owners of limited income. "

Deibel did not mention the name of the Kuwaiti company, or when it would begin the project or the time it would take to the ceiling, saying only that "it will in due course."

And after the fall of Najaf (160 km south of Baghdad).

Iraqi parliament considers no-confidence motion against anti-corruption body chief

Baghdad - Voices of Iraq
Saturday , 09 /06 /2007 Time 7:11:39

Baghdad, June 9, (VOI) – The Iraqi parliament is considering a no-confidence motion against Radi Hamza al-Radi, the chief of the Iraqi Integrity Board, upon a request by Sabah al-Saadi, the chairman of the parliament's integrity committee, a member of parliament from al-Fadila (Virtue) Party said.

"Saadi has collected the signatures of 52 out of 275 members of parliament in favor of his request," Mohammed al-Khazaali told the independent news agency Voices of Iraq (VOI) on Saturday.

The Iraqi parliament had met on Wednesday to question Radi on administrative and financial violations, squandering of public funds and dereliction of duty as part of accusations leveled by Saadi and other Iraqi MPs.

Khazaali said the motion will be left to vote after seven days in accordance with the parliament's internal statute.

Meanwhile, Khazaali said "the Iraqi parliament has hosted Foreign Minister Hoshyar Zibari for a debate on issues pertaining to Iraq's foreign relations and extending the mission of the Multi-National Force (MNF)."

He said the Saturday session, chaired by Speaker Dr. Mahmoud al-Mashhadani, witnessed the second reading of an agreement on Iraq's joining of the Multilateral Investment Guarantee Agency (MIGA).

Fadila Party has 15 seats in the Iraqi parliament.

Minister of Industry Iraq is currently the largest investment center in the Middle East

08.06.07

Sawa said : Fawzi Al-Hariri and Minister of Industry said that Iraq is now one of the largest investment center in the Middle East and encouraged each investor Iraqi, Arab and foreign, to take advantage of the great opportunities available in all fields including industry, agriculture. And Nfehriri in an interview with "Radio Sawa" of any contract between the Ministry of Industry and the American Army for the processing elements of the Iraqi army, wearing military uniforms. Regarding the visit of the Assistant Secretary of Defense American in Iraq and discuss the new orientation of the industrial renaissance Hariri said : "I met Mr. Brinkley during his previous visits to Baghdad and during his current visit, we discussed all the issues that are the focus of his tour in Iraq.

Mr. Brinkley is the important consideration of the humanitarian support some industrial sectors in Iraq have been diagnosed through the Ministry of Industry, a group of companies has also been studied by support through the purchase of certain products. We are now in the process of study and debate how to reach this goal.

With regard to the rehabilitation of factories and laboratories Iraqi Hariri affirmed that the Iraqi industry stopped in a 1-0 2003 in terms of production, currently the rate of production at factories in Iraq and Iraqi companies is between 20 to 30% and this clear progress in the past three years and this attests to the ability of Iraqi industry and competencies in the re-operation of these plants. The sectors in which they operate now is the private construction and cement factories, the private sector and pharmaceutical chemical fertilizers and textile sectors.

Generally all sectors currently operating in a certain likely to be low and could be as large. Our ambition to develop these capabilities in order to reach the high rates of production, and we have plans in this direction.

As for the Alexandria plant for the production of cars and said there is the capacity for the manufacture of highly qualified, or for the maintenance of military equipment and civilian. Alescandron stations and one which we are currently pursuing is to maintain the mechanisms of the Iraqi army and Iraqi police. We are ready to provide foreign agencies, including the American companies Pmentjatna We hope to sign contracts in this regard and there Balescandron special attention at the present time.

And the message it sends to foreign investors Hariri affirmed that Iraq is now one of the largest investment center in the Middle East, if not the world, and the proceeds will be very large on every investor is the current situation. We encourage each investor Iraqi, Arab and foreign careful study of the status quo in Iraq and take advantage of the great opportunities available in all fields including industry, agriculture and other areas.

Originally Posted by DinarDevildog

Precautions mentioned by the Finance Minister in the recent period is very important and is certainly helping to support the Iraqi dinar strongly and this makes the Iraqi Central Bank strong position to raise the value of the Iraqi dinar when God. But the Central Bank has the intention to raise the value of the Iraqi dinar rates significantly in the one year up to 40% for example? The answer both.

The Central Bank has the capacity to lift Iraqi dinar once, but he wanted to preserve the property of the people and especially the Iraqi traders who have most of their money in dollars and remit Iraqi dinars to the dollar a day for importation purposes and other purposes, Therefore, the Central Bank decided to raise the value of the Iraqi dinar gradually, I do not think that would exceed the annual rate of change of 10-20%.

The Central Bank has identified and figures are respectively :
For 2007 the bank will try to maintain the rate of 1260 dinars per dollar
For 2008 the bank will try to reach the Iraqi dinar rate between 900-1000
For 2009 will try to deliver price 700-800
For 2010 the bank will try to deliver the Iraqi dinar rate to 500
These figures will become reality if the same bank in its current policy , but that policy could change at any moment and could develop new plans, but all plans will be aimed at improving the value of the Iraqi dinar.

{{{ policy COULD CHANGE at any MOMENT!!! OH I like the sound of that}}}}}}}
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I tried to pull up this link but was not able to, not sure if link is a bad link or not. Can someone pull this article up and tell what the date of this article is? This article tends to suggest a slow growth and I don't like the sounds of that. This may just be an opinion piece, what are others take on it? Thank you, HopeFull for that great article you provided, that sounds more like it!!

Lunar you are doing a great job in your posting .... good solid information....this Iraq issue is like reading a book (page by page) but some day the RV chapter will appear....and some will read with excitement and others will just read about it without knowing the impact it could have made in their personal lives .... Thank you agin Lunar.


(IF YOU DON'T DEPLOY YOURSELF OTHERS WILL EMPLOY YOU)

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