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

Hi matey,

Fack me that was a quick op. How you feeling?

Good to have you back.

Prime Minister to preside over the reconstruction of the shrines of Imams

(Voice of Iraq) - 11 - 16-2006
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The Republic of Iraq
The Cabinet-governmental organizations - the Communications Media Relations
Press Release Press release

Prime Minister to preside over the reconstruction of the shrines of Imams military
They peace and the development of the city of Samarra.

The Cabinet decided at its fourth session, held on the 9th of this month. the formation of a ministerial committee headed by Prime Minister and the ministers of defense, interior, finance, planning and development cooperation, construction and housing, municipalities and public works and all of the key Cabinet Aloaqvin Shiite and Sunni, in addition to one of the dignitaries of the city of Samarra.

The committee is the task of overseeing the reconstruction of the shrines of Imams by the military operations and the development of the city of Samarra.

[quote=Wm.Knowles;136322]Ref: Today's CBI auction

Well, we can see today that the CBI is following the same trend we have discussed over the last two weeks. It appears they have removed another 40M USD from the economy and increased the exchange rate by 1 dinar to 1454. My impression stands as it has been, a dramatic monetary intervention in a short period of time to reduce the base money supply. Having worked with bankers who tend to be a very conservative types, this is a "panic" intervention with the goal of completing a removal in a short period. Very unusal considering. Any country that can remove this much currency and still maintain currency reserves is impressive. The last estimate I have of Iraqs currency reserves is at least two months old and it was around 12B in reserves. (This does not include the reported Gold they apparently have). So, it is probable that they have intervened and removed close to One Trillion dinars from the economy and may STILL have over 12 billion in reserves. So if my information is correct, they have a GOI who has a 34 Billion dollar budget and is able to operate within budget, they have more currency reserves than almost all of the countries there size, they have eliminated most of there debt to where it is about one percent of there CURRENT GNP. There oil production is approaching 3MBD (the best report that I found was 2.6 MBD and only for a short time) Opec quota was 2MBD.
they have oil reserves that may place them ahead of SA in their amount of oil. (economists called this "stored value"). And, we have seen a very responsible monatery intervention by the CBI which is consistent with the SBA from the IMF and classic economic theory and practice. So, look forward to this removal "drying up" in days or a couple of weeks. With their currency reserves, they may continue this process for a while longer, but it can not last forever. They simply want to remove as much excess dinar from the economy at as cheap of price as possible before some one makes them "pay up". This is exactly what you or I would do. Have a good day and weekend and we'll see what the news reports.[/q/]

What can we assume by this? Since the amount they pulled out seems to be dropping, and the change in the exchange rate dropped by only 1 point instead of 5, does this tell us we are nearing the bottom of how much they plan on pulling out or hit a plateau? In other words, they can keep pulling 60mil for the next week with a 1 dinar drop each time and then hit a day when there is another 5 dinar drop? If your estimates are correct and they started with approx 4.5 Trillion and they have removed approx 1 Trillion, they should be somewhere around 3.5 Trillion in circulation. When you factor in the probable Trillions held by other countries plus investors, don't you think we should reach the bottom sooner rather than later?

worf

Originally Posted by clintstella

Hi matey,

Fack me that was a quick op. How you feeling?

Good to have you back.

National Health Service for you. Like a McDonalds drive through.

Nah, next Thursday matey. Just surfing to see if the hospital has an internet cafe!

Originally Posted by Adster

National Health Service for you. Like a McDonalds drive through.

Nah, next Thursday matey. Just surfing to see if the hospital has an internet cafe!

Now that ladies and gents is dinar dedication TOP Man Adster

The prime minister-Information Office press statement -

(Voice of Iraq) - 11 - 16-2006
This issue was sent to a friend

The name of God the Merciful
The Republic of Iraq - Prime Minister-Information Office press statement -

Left Prime Minister Nuri Kamal al-Maliki homeland morning, heading to the Republic of Turkey in a two-day official visit in response to an invitation addressed to the sovereignty of the Turkish government to discuss with officials of the Turkish side ways of developing bilateral relations between the two neighboring countries at different levels of political and Alagh Tassadeh, trade and security.

This visit comes within the framework of the efforts of Mr. Prime Minister to develop its relations with neighboring countries, and after his tour, which included the Gulf states and Iran. And Mr. Prime Minister, accompanied by a delegation comprising of Foreign Minister Hoshyar Zebari, and Finance Minister Baqir Jabr strike, Minister of Electricity Dr. Karim Wahid, and the Minister of Commerce Dr. Abdalvalah Sudanese, and Agriculture Minister / Minister of Transport Dr. agency. The Aboudi, the Minister of State for National Security Shirwan Alowaeli and a number of members of the House of Representatives.

Originally Posted by Adster

I standby what I said a few hundred pages ago! All is being done behind closed doors. The more they buy back and the longer the delay the higher the reval. The rate is currently being set now IMO.

All good, one day we'll wake up and it will be done just like that......

From your mouth to God's ears!!!!!

I am with you 100%

FXCheatSheet - Currency Converter for Travelers
FXCheatSheet
US Dollar (USD) to Iraqi Dinar (IQD)
for Thursday, November 16, 2006


USD IQD USD IQD USD IQD
1 = 1397.59 10 = 13975.89 100 = 139759
2 = 2795.18 15 = 20963.83 200 = 279518
3 = 4192.77 20 = 27951.78 300 = 419277
4 = 5590.36 25 = 34939.72 400 = 559036
5 = 6987.94 30 = 41927.67 500 = 698794
6 = 8385.53 35 = 48915.61 600 = 838553
7 = 9783.12 40 = 55903.56 700 = 978312
8 = 11180.71 45 = 62891.50 800 = 1118071
9 = 12578.30 50 = 69879.45 900 = 1257830

FXCheatSheet for Travelers
© 1997-2006 by OANDA, Corp.
OANDA, The Currency Site: Foreign Exchange Services and Trading 60 = 83855.34 Interbank rate
US Dollar (USD)
Iraqi Dinar (IQD)
November 16, 2006
70 = 97831.23
80 = 111807.11
90 = 125783.00

maybe reaching that projected figure was refering to the 'interbank rate'. lookin like we are mightly close doesnt it??

This question will continue to come up as we watch this process. "Are they getting close to the bottom as to how much they (CBI) can pull out". I am always hesitant to speculate. Yes, there is a trend here where in the near term they will have reached their target goal (and they have one). The fact that they have intervened buying so much in such a short period is what interests me. This overal picture is very GOOD for all of us and you should be excited to watch this process. We are truly seeing a remakrable "thing" right before our eyes. As always, I am optimistic and think we are "close to the bottom".

Originally Posted by Dinar-Excited

Is anyone else MAD!!!!!!

I am really mad as the talk of pulling the troops out of Iraq in 4 - 6 Months. We will be leaving a whole Country of people just as they are making head way. I know War sucks but this was necessary and pulling out before you are finished with a victory is making security worse for Both Iraq, US and the World. If we let the terrorist win by leaving in the middle of the battle we all lose not just money but safety. The terrorist already think they have won one over on the US with Rumsfield resining.

THIS IS ABOUT WORLD SECURITY!!!!!!!!!!!

If we pull out now all the troop from US and other Country's that have very sadly died protecting their Country did it for us to quite it dose not seem right.

I am sure things will work out as big MONEY is involved so is Country's and big business. We need all of the natural resources and that is why it will work out. But I am mad that they would even consider pulling out now.

OK I am off the RANT I just wanted to get that off my chest.

Dinar-Excited

Don't worry. We won't be leaving Iraq. With the oil crisis going own in every country of the world, and Iraq sitting own 115 billion barrels of oil (might be more oil found by now), We won't be leaving Iraq just because the democrats say we should. George Bush is a businessman, he knows the potential for Iraq to become a rich nation. We can't leave the country with this insurgency going on. Personally, I think they should RV the currency, which will get their economy going like wild fire. I also believe that when they find all these insurgents, they should hang them by the neck till they are Dead, Dead, Dead with panties on their Head, Head,head! Come on, everybody sing along!