Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by SimplyD

FONT=Arial]From above. Now how can they do this???? hhhhmmmmmmm. We're gonna be facking rich![/FONT]



WHEN????

When? Patience is a virtue. I decided to wait until... however long it takes because it will get there. JMO.

Soon be time for this!!!


Cashing in, please read. When the time is right soon this info is worth bearing in mind.

1. Hear of r/v through forum.
2. Check rate officially on CBI's site, Central Bank Of Iraq
3. Pick yourself up off floor.
4. Call in sick with the intention of 'never' going back..........
5. Phone around banks to find out who is exchanging, what they charge to exchange, and whether they will check your dinars there and then, (most main branches can verify there and then).
6. Take to bank, preferably with large husband, boyfriend, brother etc for security.
7. Ask for a large Cuban cigar whilst you put your feet on the branch manager's desk as you discuss what THEY will do for you. When he/she offers you coffee/tea ask for a large whiskey.
8. Pick manager up off floor when you get out your 'wad' of notes.
9. At a r/v around 1:1, exchange in what you feel comfortable with. Yes this will go back to their old rate of $3.22 in time. Personally, I'd cash in half.....
10. Leave bank, with cheque or confirmation of wire to your own bank account.
11. Head to nearest bar to get 'wasted'.
12. Hold a big party, start looking round for a nicer car/house.
13. Arrange r/v party with your fellow dinar holders from Rolclub.
14. Pay taxes at some point!

Otherwise skip point 5 to 10 and head to an airport and cash in some there and return whenever you need too, then continue to point 11 as above.......

Translated version of http://www.iraqimedianet.net/article/Economy/2716/
i cant remember if i posted this one or not my head is spinnin here...

Originally Posted by Adster

Soon be time for this!!!


Cashing in, please read. When the time is right soon this info is worth bearing in mind.

1. Hear of r/v through forum.
2. Check rate officially on CBI's site, Central Bank Of Iraq
3. Pick yourself up off floor.
4. Call in sick with the intention of 'never' going back..........
5. Phone around banks to find out who is exchanging, what they charge to exchange, and whether they will check your dinars there and then, (most main branches can verify there and then).
6. Take to bank, preferably with large husband, boyfriend, brother etc for security.
7. Ask for a large Cuban cigar whilst you put your feet on the branch manager's desk as you discuss what THEY will do for you. When he/she offers you coffee/tea ask for a large whiskey.
8. Pick manager up off floor when you get out your 'wad' of notes.
9. At a r/v around 1:1, exchange in what you feel comfortable with. Yes this will go back to their old rate of $3.22 in time. Personally, I'd cash in half.....
10. Leave bank, with cheque or confirmation of wire to your own bank account.
11. Head to nearest bar to get 'wasted'.
12. Hold a big party, start looking round for a nicer car/house.
13. Arrange r/v party with your fellow dinar holders from Rolclub.
14. Pay taxes at some point!

Otherwise skip point 5 to 10 and head to an airport and cash in some there and return whenever you need too, then continue to point 11 as above.......

I need to change #3 to - "Have some one close by that knows CPR"

Originally Posted by shotgunsusie

it was always what was tied to the raising of the rate of the dinar. mentioned in both early articles at al sabaah together they were. SWEEEEEET!!!!
this all tells me theyve approved the raise in the rate and for how much. we are fixin to find out what their decisions are!!

I read also that is was an important issue and a big pressure on the budget which needed to be resolved. Now it is.

The financial news coming out these days is more and more leading to our goal.

Still can't open that article. In english version it's not mentioned yet and through translation i can't get it opened.

Are we missing anything??? Feel free to add, we should keep this up to date please, moreso when I'm not around next week to do it.

1. October 15th. 3 year anniversery of the New Iraqi Dinar.
2. October 19th. Religious leaders meet in Mecca to endorse a call for an end to all sectarian bloodshed
3. October 24th. End of Ramadan.
4. October 30-31. IAMB meeting. (Article V111 done and dusted?)
5. End of October. ICBG to launch by end of October.
6. FIL passed 10 October, we were told it would take a month to be officially enacted, so we're looking at around 7/11 for announcement in the Gazette, embargoed???.....
7. Saddam verdict 5/11, to be hanged within 2 months.
8. Week beginning 5 November, distribution of ration cards........not yet
9. Rumour of BoA selling dinars from 13/11, we were told they'd only be dealing with dinars once it was 'trading' internationally........some are, some aren't.
10. 13/11, CBI press official article about increasing dinar value/strengthening purchasing power....
11. 15/11, CBI pulling dinars out of circulaton, good sign.......
12. EU Trade signing 20/11.
13. End of November. International Compact for Iraq signed, sealed and delivered, or was it signed 31/10??????? Hopefully debt forgiveness by Saudi and Kuwait as well.
14. December ?. DFI is turned over to the GOI.
15. Oil Law, end of the year.
16. December 31 end of year 1345 IQD to 1 USD CBI/IMF projection achieved.
17. Jan 1st. Beginning of a new fiscal year.
18. March 22, 2007. Iraq's IMF Stand-By Arrangement expires
19. 2008. Iraq begins making large IMF fund payments.

Originally Posted by shotgunsusie

is this now 'off' the program rate and floating???

I am kind of wondering the same thing. My fear is that they are going to let go to the other cbi rate announced earlier this year of 1 dollar = 1365 dinars by the end of 2006 without actually r/ving big time. I hope they aren't going to do that because as already discussed at ROLclub, it would be way too little too late. Hopefully what, this is really showing is, as they pull excess dinar out of the market, the value is increasing. If this is true, it makes me wonder why in the !@#$% did they wait so long and cause so much suffering and chaos?? A far better scenario would be to pull out liquidity from the economy as discussed by WM., and then r/v to a really good high rate!!! That is what I hope for anyway!!!

worf

Originally Posted by Frank Rizzo

Al Sabbah.... Another article mentioning the exchange rate...

Economic :the investment climate to attract workers for the entry of foreign capital Imad Principality affected the investment climate of the political, social and institutional development in the host country,These factors have a significant impact as a unit of overlapping can not downplay their significance.In this direction pointed financial expert in the Ministry of Finance (Hilal war) to several factors affecting the (investment climate), including in Iraq,the lack of supporting institutions for a market economy and the fact that the existence of such institutions is working to attract foreign investment and the instability of the political situation and security is one of the determinants facing the entry of foreign capital to a country in Iraq, for example, takes this side of 30% - 40% of project expenditures operating in the country.March and investment in Iraq despite the attention given to the importance of foreign investment, through laws before the fall of the regime, as well as by the authority (the occupation) after the events of 4-9-2003 and submission of the proposal (text) Foreign Investment Law No. (39) for the year (2003) and to facilitate the attraction of foreign investment, which stated (that facilitate Alastthmforeign TR will help develop infrastructure and boost the growth of Iraqi industries and contribute to the creation of job opportunities and increase the capital and result in the entry of new technology to Iraq).Hilal pointed to the fact that security was heavy shadow on the march and got several international meetings on this subject and promises to invest 38 billion dollars did not receive the state only a little added through the frameworks discussed in the economic, social and particularly in the economic structures and conditions of the economyYeh prevailing in the country and the range of development must focus on basic infrastructure in Iraq, such as health, education and means of communication, water and sewage networks, electricity and other services which are pillars to be fulfilled in any process they play an important role not only in determining the investment volumes as athe polarized in host economies and even distribution between sectors and this has made many nations in a competitive race to attract (foreign investment) through direct facilities without extensive consideration of the social effects resulting from the lack of proper planning to pay many of the economic institutions for PththiR. Governments led astray by those policies and social impact (Helal) described the environment as a paramilitary Iraqi infrastructure destroyed therefore the responsibility rests on the planned mission in the Iraqi economic consideration of the reality of the Iraqi budget in the process of attracting foreign capital through programs that the Iraqi economy and the promotion of modernization andmerging the global economy, according to legislative axes that are flexible, attractive and the creation of (economic environment for investment) and requires that work according to several factors, including the stabilization of the Iraqi currency (the dinar) because studies proved the existence of a negative correlation between the exchange rate and the flow of foreign investment because of exchange rateexchange lead to the rapid changes in the relative profitability of investment returns,the strongest factor is the reduction of (inflation), which in turn affects the movement of capital as it affects the production costs and profitability of the market and the investment climate studies conducted over 54 developing countries emerged that there was a negative correlation between high rates of inflation and foreign investment because of the weakness of the economy in the host countries, which poses a threat toinvestors and then work on the development and promotion of exports, especially non-oil and reorganization (of the banking system) to meet the economic conditions of local and foreign work on controlling the deficit in the (budget) of the Iraqi State and mitigation of (foreign debt) and to develop the infrastructure and facilities insistedYueh in the Iraqi economy as well as that we should find new incentives commensurate with the needs of investors and implementation of promotional campaigns to identify the advantages and the attractiveness of investment in the host country (Iraq) ... ( Hilal) said that foreign investment is affected by the extent of political stability in the host country that the political factor more a factordummy to take different (private investment decisions), and even the Assembly and the fact that this is a group of several risks in the investment process, including (nationalization,the confiscation of private property,government intervention in economic activity) and this impacts negatively on building economic projects and create obstacles to attracting foreign investment.


I think in the red highlighted part, the writer is referring to people (foreign investors) coming to Iraq and buying it all up for pennies... just like we have talked about on the forum...

Good point. I thought all along the "buying up things for pennies on the dollar" was a comparative idea. I have looked at land in other countries in the past, and depending on where it is, you can find great deals where the land is "under-valued", simply because of the lack of development or promotion. This would be the cas in Iraq, if it were priced according to the local economy and not the economy of some other country. So, the revalue of the dinar is an important step for the CBI to take, or that could very well happen. Right now, speculation says there is a lot more value there than they thought, but, once they get into it, it may be discovered that the value is even higher than anyone was speculating. So, REVALUE ALREADY, AND QUIT TALKING ABOUT IT!

Originally Posted by worf

I am kind of wondering the same thing. My fear is that they are going to let go to the other cbi rate announced earlier this year of 1 dollar = 1365 dinars by the end of 2006 without actually r/ving big time. I hope they aren't going to do that because as already discussed at ROLclub, it would be way too little too late. Hopefully what, this is really showing is, as they pull excess dinar out of the market, the value is increasing. If this is true, it makes me wonder why in the !@#$% did they wait so long and cause so much suffering and chaos?? A far better scenario would be to pull out liquidity from the economy as discussed by WM., and then r/v to a really good high rate!!! That is what I hope for anyway!!!

worf

The dinar is still under the guidance of the IAMB. This should change after the 12 December meeting where the CBI will have full control over the dinar again and can do as they choose.

Originally Posted by shotgunsusie

Translated version of http://www.iraqimedianet.net/article/Economy/2716/
i cant remember if i posted this one or not my head is spinnin here...

Awesome!