Thread: Iraq/Dinar News until 6/17/07 8:30 PM CST

"Iraqi Prime Minister Nuri al-Maliki with Assistant Secretary of State John Negroponte, who arrived Tuesday in Baghdad on a surprise visit" regional interventions and conspiracies "facing the government. Transfer official statement from al-Maliki as saying that the government "is going to enact the bills de****e regional interventions and plots that are hampering the political process." The project revert to the laws of the oil, gas and accountability, justice and territories. He added, "We have many tasks including the development of our security and our armed forces to play their role in addressing national Qaeda terrorist organization, and Sadamien, militias and extending the authority of law." He stressed, "the success of the government of national unity in eliminating the greatest danger of sectarian war through reconciliation initiative national "and praised" the support of the United States for the political process and reconstruction, rebuilding. " The statement continued, "Negroponte new American administration's position supporting the government in the face of challenges and external interventions." It is noteworthy that Negroponte was ambassador to his country in Iraq between 2004-2005. The Maliki met Negroponte beginning in November 2006 when he was still chairman the American intelligence agencies. The "New York Times" on Tuesday that the commander of the American army in the Middle East, Admiral William Falun warned Maliki face growing anger from before the American Congress that the government did not demonstrate the political progress in sensory during one month. The newspaper pointed out that Falun said of the owners during a meeting Sunday in Baghdad that the Iraqi government's ratification of the new Iraqi oil by next month, which by law are supposed to identify ways of distributing oil wealth to the governorates and Iraqi groups

الصباØ* الجديد - المالكي بØ*Ø« مع نغروبونتي "التدخلات الاقليمية والمؤامرات

This one is for you as you appear to be the font of all knowledge, if the Iraq Stock Exchange goes electronic in the near future approx 30/45 days according to official statements and therefore open to the world for trading do you still see it not revalueing prior to this happening, straightforward question??? answer Yes or No.

Originally Posted by darock0116

"Iraqi Prime Minister Nuri al-Maliki with Assistant Secretary of State John Negroponte, who arrived Tuesday in Baghdad on a surprise visit" regional interventions and conspiracies "facing the government. Transfer official statement from al-Maliki as saying that the government "is going to enact the bills de****e regional interventions and plots that are hampering the political process." The project revert to the laws of the oil, gas and accountability, justice and territories. He added, "We have many tasks including the development of our security and our armed forces to play their role in addressing national Qaeda terrorist organization, and Sadamien, militias and extending the authority of law." He stressed, "the success of the government of national unity in eliminating the greatest danger of sectarian war through reconciliation initiative national "and praised" the support of the United States for the political process and reconstruction, rebuilding. " The statement continued, "Negroponte new American administration's position supporting the government in the face of challenges and external interventions." It is noteworthy that Negroponte was ambassador to his country in Iraq between 2004-2005. The Maliki met Negroponte beginning in November 2006 when he was still chairman the American intelligence agencies. The "New York Times" on Tuesday that the commander of the American army in the Middle East, Admiral William Falun warned Maliki face growing anger from before the American Congress that the government did not demonstrate the political progress in sensory during one month. The newspaper pointed out that Falun said of the owners during a meeting Sunday in Baghdad that the Iraqi government's ratification of the new Iraqi oil by next month, which by law are supposed to identify ways of distributing oil wealth to the governorates and Iraqi groups

الصباØ* الجديد - المالكي بØ*Ø« مع نغروبونتي "التدخلات الاقليمية والمؤامرات

Sounds like next month or bust

Thanks Darock. Let's see if Maliki lives up to his word and gets things done.

News reports : United States demanding that Iraq make concrete political progress

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AFP : The "New York Times" on Tuesday that the commander of the American army in the Middle East, Admiral William Falun request from Iraqi Prime Minister Nuri al-Maliki concrete political progress. The newspaper pointed out that Falun said of the owners during a meeting Sunday in Baghdad that the Iraqi government's ratification of the new Iraqi oil by next month a law , which is supposed to identify ways of distributing oil wealth to the governorates and the Iraqi groups. The "New York Times" on its website that owners of Falun said "we have to show some progress in July for the next report."

H

e added Falun owners of "your power ... and you have to take the initiative." At this meeting, which was joined by American Ambassador Ryan Crocker in Iraq, the Iraqi national security adviser Muwaffaq al-Rubay'i, and attended correspondent "New York Times" The Maliki guarantees that progress will happen, but on the other hand, the detail of the barriers faced by his government. The newspaper, "for the time being it seemed that the parties are working on upgrading different," where Falun focused on the need to achieve progress while Maliki emphasized the long track made by his government. He also questioned Maliki to be recognized Trace achievements of the government, even if a law was approved oil.

Malki also stressed that progress is being made and could be included in the report from the White House and Pentagon in September on the operations in Iraq, which will be given to Congress. Al-Maliki said, "I must report sets September achievements," pointing out that "there are many positive developments. our resolve is not broken and there is yet another success is that no one is above the law. "

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Originally Posted by billknows

We must remember that the role of the CBI has been to maintain the stability of the dinar - for which they have been congratulated by the IMF.

All of the increase in dinar value that we have witnessed, is likely due to efforts to stabilize it against the falling value of the USD.

Every major currency in the world has gained value against USD.

If USD continues to drop on world markets, I would expect to see our dinar rates continue to increase.

At this point - its' all about stability.

Obviously what we are waiting for, is a bold move by the CBI to crush inflation and restore buying power through dedollarization - the return of dinar to its' normal value.

You might be on to something here. It just could be a correction perhaps I wonder how the rate stacked up against other currencies from the day before?

Certainly this is not slow growth since we watched the fluttering between 1260 and 1259. It might appear that way to some because it looks slow and technically is growth but it’s pure kennard. It's not going to prove to be the long-term course of action. Slow growth and article IV do not mesh…

I'm curious to see the latest core inflation numbers.

It’s hard to judge the inflation factor though since fuel price increases are part of the IMF prescription for economic health besides staving off a potential oil derivatives black market.

Plus we are still on the program rate and the CBI is holding back the exchange rate, which also reveals itself in inflation rate.

No this is not slow growth, I believe it's just merely an adjustment to pry more dinar out of financial markets. Remember at this rate of exchange I do not believe they can fund the retirement program requirements and that won’t breed stability.

Patience as we look for the bold adjustment.

Union : President of the Republic, His Excellency Mr. Jalal Talabani, in his office in Baghdad yesterday, Tuesday, Deputy Foreign Minister of America, Mr. John Negroponte.

His Excellency President Talabani, during the meeting which was attended by the Iraqi file in the Near Eastern Affairs David Satterfield, the American Ambassador to Iraq, Ryan Crocker, a detailed description of the situation in the country. The meeting was attended by Dr. Fouad Massoum head of the Kurdistan Alliance list in the House of Representatives, Dr. Latif Rashid, Minister of Water Resources. He Excellency President Talabani, highlighted the political developments and conditions in the country, pointing out the gains of liberalization of the political, economic and public freedoms and recovery living situation of the citizens.

He also pointed out the risks and difficulties encountered by providing security and stability and promoting national reconciliation. The two sides exchanged views on latest developments at both the security and political steps have been discussed in Baghdad plan to impose law and the results of field. Discussion was also on essential legislation and constitutional amendments and political issues related to this matter.

On the other hand, the Prime Minister, Mr. Nouri Kamel al-Maliki that the government of national unity projects are going to enact laws that serve the Iraqi people in the present and future, such as oil, gas and Law and Justice and Accountability Act governorates, in addition to expanding its efforts in the national reconciliation de****e regional interventions and plots that are hampering the political process.

He added during a reception at his official Baghdad yesterday, Tuesday, Mr. John Negroponte, Deputy Foreign Minister announced that many tasks ahead including the development of our security and our armed forces to play their role in addressing national Qaeda terrorist organization, and Sadamien, militias and extending the authority of law throughout the country.

Maliki pointed to the success of the government of national unity in eliminating the greatest danger of sectarian war through the initiative of national reconciliation, which has the support of all components of the people and political forces.

He praised Prime Minister support of the United States in supporting the political process and reconstruction, rebuilding.

Negroponte reiterated his administration's position in support of the American people and government in the face of challenges and external interventions to enable it to achieve security and stability and provide better services to the Iraqi people.

It is noteworthy that Negroponte was ambassador to his country in Iraq between 2004-2005.

The Maliki met Negroponte beginning in November 2006 when he was still president of the American intelligence agencies.

It should be noted that press reports had talked on yesterday, Tuesday, the commander of American forces in the Middle East, Admiral William Falun he called seriously Iraqi Prime Minister Nuri al-Maliki face reactions growing by the American Congress that the government did not demonstrate the political progress in sensory during one month.

The "New York Times" said that the Falun owners during a meeting Sunday combined in Baghdad that the Iraqi government should pass laws necessary reforms quickly.

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Originally Posted by wciappetta

You might be on to something here. It just could be a correction perhaps I wonder how the rate stacked up against other currencies from the day before?

Certainly this is not slow growth since we watched the fluttering between 1260 and 1259. It might appear that way to some because it looks slow and technically is growth but it’s pure kennard. It's not going to prove to be the long-term course of action. Slow growth and article IV do not mesh…

I'm curious to see the latest core inflation numbers.

It’s hard to judge the inflation factor though since fuel price increases are part of the IMF prescription for economic health besides staving off a potential oil derivatives black market.

Plus we are still on the program rate and the CBI is holding back the exchange rate, which also reveals itself in inflation rate.

No this is not slow growth, I believe it's just merely an adjustment to pry more dinar out of financial markets. Remember at this rate of exchange I do not believe they can fund the retirement program requirements and that won’t breed stability.

Patience as we look for the bold adjustment.

Reading the posts referring to slow grow this morning, i couldn't find the words (not enough caffiene) to express my opinion, thank you, those are the words i would have used if i'd had the where with all, LOL

Originally Posted by wciappetta

You might be on to something here. It just could be a correction perhaps I wonder how the rate stacked up against other currencies from the day before?

In Canadian dollars the NID has been losing ground while in USD the dinar is becoming wortt more. All very odd to me. Here is a comparison of today to January to see how only the USD is getting better. NID is losing to all other currencies. (The table will not post, so these are buy/sell numbers one atop the other for each country.)

Daily price Bulletin buying and selling Wednesday 2007/1/17

Currency

Currency Code

Selling Price In IQD

Buying Price In IQD

US Dollar

USD

1308.000

1307.346

European Euro

EUR

1689.674

1688.830

British Pound

GBP

2564.334

2563.052

Canadian Dollar

CAD

1113.381

1112.824

Swiss Franc

CHF

1048.077

1047.553

Swedish Krona

SEK

186.545

186.452

Norwegian Kroner

NOK

203.270

203.168

Danish Krone

DKK

226.757

226.643

Japanese Yen

JPY

10.842

10.837

Daily price Bulletin buying and selling Wednesday 2007/6/13

Currency

Currency Code

Selling Price In IQD

Buying Price In IQD

US Dollar

USD

1259.000

1258.371

European Euro

EUR

1677.618

1676.779

British Pound

GBP

2486.525

2485.282

Canadian Dollar

CAD

1183.716

1183.124

Swiss Franc

CHF

1013.361

1012.855

Swedish Krona

SEK

178.218

178.128

Norwegian Kroner

NOK

206.861

206.758

Danish Krone

DKK

225.336

225.224

Japanese Yen

JPY

10.340

10.335

Special Drawing Rights

SDR

1899.189

1898.239

The above price represent reference rate and does not from any commitment on the Central Bank of Iraq.

Originally Posted by wciappetta

You might be on to something here. It just could be a correction perhaps I wonder how the rate stacked up against other currencies from the day before?

Certainly this is not slow growth since we watched the fluttering between 1260 and 1259. It might appear that way to some because it looks slow and technically is growth but it’s pure kennard. It's not going to prove to be the long-term course of action. Slow growth and article IV do not mesh…

I'm curious to see the latest core inflation numbers.

It’s hard to judge the inflation factor though since fuel price increases are part of the IMF prescription for economic health besides staving off a potential oil derivatives black market.

Plus we are still on the program rate and the CBI is holding back the exchange rate, which also reveals itself in inflation rate.

No this is not slow growth, I believe it's just merely an adjustment to pry more dinar out of financial markets. Remember at this rate of exchange I do not believe they can fund the retirement program requirements and that won’t breed stability.

Patience as we look for the bold adjustment.

If you look at the Canadian Dollar or the Euro - each has made strong gains against USD , only because of a weakening USD. For the same reason, middle eastern countries are moving to basket currencies to stabilize against a falling USD.

The gains we have made in dinar are, in my view, strictly compensation for a weakening USD.

The IMF is encouraged by CBI actions to stabilize (defend) the dinar against the falling USD - but for dinar investors what we have witnessed is just "a walk in the park" compared to what we can expect in the near future.

The IMF has told the CBI that it must deal with inflation before it becomes a chronic or permanent fixture in the Iraqi economy. The answer is - dedollarization, a clean break from USD as prime currency.