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

Posted by panhead: All Oklahoma City OK CHASE Banks and select locations in Houston, Texas will accept your Iraq dinar for exchange near Central Bank of Iraq rates. The day has come. (FVNEWSWIRE Sep 1, 2006)

Winnipeg, MB (FV Newswire) - Iraq Dinar online research alliance has discovered and verified by phone that CHASE bank has both guns blazing in the Iraq investment area. Cash for your Dinars today at Major USA Banks.

Persons who have questions about Iraq including the media will want to scour this Press Release as the 2nd largest question about Dinar is now answered. When can I cash my dinars in locally such as a major USA Bank. CHASE Bank put this question to rest.


All Oklahoma City OK CHASE Banks and select locations in Houston, Texas will accept your Iraq dinar for exchange near Central Bank of Iraq rates. The day has come. (FVNEWSWIRE Sep 1, 2006)

Winnipeg, MB (FV Newswire) - Iraq Dinar online research alliance has discovered and verified by phone that CHASE bank has both guns blazing in the Iraq investment area. Cash for your Dinars today at Major USA Banks.

Persons who have questions about Iraq including the media will want to scour this Press Release as the 2nd largest question about Dinar is now answered. When can I cash my dinars in locally such as a major USA Bank. CHASE Bank put this question to rest.


All Oklahoma City OK CHASE Banks and select locations in Houston, Texas will accept your Iraq dinar for exchange near Central Bank of Iraq rates. The day has come. (FVNEWSWIRE Sep 1, 2006)

Winnipeg, MB (FV Newswire) - Iraq Dinar online research alliance has discovered and verified by phone that CHASE bank has both guns blazing in the Iraq investment area. Cash for your Dinars today at Major USA Banks.

Persons who have questions about Iraq including the media will want to scour this Press Release as the 2nd largest question about Dinar is now answered. When can I cash my dinars in locally such as a major USA Bank. CHASE Bank put this question to rest.

Panhead Thank you for this information. I'm keeping track of the banks that are dealing in dinars. So when the r/v does happen I know exactly where I'm going to cash the dinars in.

Originally Posted by Dinar Madness

Panhead Thank you for this information. I'm keeping track of the banks that are dealing in dinars. So when the r/v does happen I know exactly where I'm going to cash the dinars in.

Be advised that is a reprint of an older article......but Chase is set up as good as anyone for the reval.

All 10 thousand dollars lost 300 thousand Iraqi dinars
The dollar fell against the Iraqi dinar against the dollar by
Baghdad Mazen's : dealers found so-called «» Stock themselves facing long-awaited fact, a drop in the prices of the dollar before the Iraqi dinar exchange rate, which maintains 1480 IQD about dollars each year.
The dollarization phenomenon. one of the problems that marred business dealings in the market since the imposition of international sanctions on Iraq. he went on traders and businessmen Isomon their commercial dealings fixed price of the dollar, as the Iraqi dinar, undesirable consequences in trade dealings.
The presentation of the Central Bank through the auction, organized by the daily buying and selling of foreign currency sums of dollars, where they were able to achieve a gradual reduction of the dollar exchange rate started from 1470 dinars to the dollar to reach the price in transactions related meeting last Wednesday to 1444 dinars.
The dollar stock deal in two branches, first Street in the fight near the wholesale market in Alcheorgh, and the other in the Harithiyah area in the Karkh. Lower contrast to read the Iraqi market in what is known as the black academic transactions.
Sources at the Central Bank told the nation »« that this policy will continue until the Iraqi dinar thrive and become the preferred currency in daily dealings. With those sources expressed its confidence in achieving this policy even finishing off phenomenon (dollarization). The increased pumping of the Iraqi Central Bank of dollars to revive the whisper among dealers in the bourse informal, the possibility of the emergence of steps by the government increase the refractive line graph for the rate of exchange price to increase the rate of the dinar against the dollar, which has become the merchants do not approve of the bourse since yesterday, Thursday, to sell more than 1430 Iraqi dinars to the dollar and sold at 1450 dinars. The language of the people of the market there is a decrease of three realistic figures. that can be increased according to Karim Ani, one assert supermarket banking.
He adds «decline is not large, But due to market fluctuations, political conditions dealers warn that makes the market to buy large quantities of foreign currency against the desire to sell to them, to ensure that the large sums of their defeat Iraqi currency ».
In terms of numbers of such a bourse, the book «» or «» Alblukh is ten thousand dollars. lost in this disembark simple, nearly 300 thousand Iraqi dinars, every book has lost the value of the Iraqi currency 210 dollars. In measuring these figures with huge sums. The real loss, the direct reason behind the lack of desire to buy the dollar against the intensification of the sale.
The financial sources informed that the government agencies, companies and several parties overestimated the adoption of the dollar as a currency dealings content in the market, This has played an influential role in the exacerbation of the situation inflationary, this policy comes in the wake of several warnings by the Central Bank, while the monthly reports pointed to the escalation of the situation to the inflationary rate of 76.6% during the month of August last year compared with August 2005. it depends on the impact of an interest rate increase granted by the pointing of 6 to 12%. prior to submit next month to raise the interest rate has increased to 16%, four points in conjunction with the amendments to the nightly interest rates and interest rates on the international credit.
The Central Bank of Iraq, in his statement, The adoption of a tight monetary policy, particularly in the area of interest rates will push commercial banks to make fundamental adjustments in the interest rates of bank had different including interest on savings deposits.
The statement stressed that «other adjustments to interest rates, the Central Bank of Iraq may depend in the future unless inflation shows a decrease in indicators».

Publication date : Friday, 24 / 11 / 2006

Translated version of http://www.alwatan.com.kw/Default.aspx?MgDid=444020&pageId=39

Originally Posted by Jola

Check this out:

Dar Al Hayat

ANY TAKERS?

The Implications of the Improvement of the Iraqi Dinar Exchange Rate
Ali Mahmoud al-Fakiki Al-Hayat - 26/11/06//


The Iraqi dinar is witnessing a gradual improvement in its exchange rate these days. The price of the dinar has risen from $ 0.000676 in early November to $ 0.00069 later during the same month. This means that the number of dinars against one dollar dropped from 1480 dinars to 1440 during that period. It is noteworthy that the exchange rate in the 1970s was $3.20 for one dinar, which exceeds the current price by four thousand and six hundred times.
It seems that the Iraqi government is planning now to fix the exchange rate at 1000 dinars/dollars, which is almost one third. The government plans to make this gradual, in order to avoid a sudden rise. This was the lesson learned in the aftermath of the sudden catastrophic decline that had occurred among traders and businessmen in 1995 and the accompanying financial and commercial turmoil, bankruptcies and trade and banking collapses.
If the current rise of the exchange rate from 1480 dinars to 1000 dinars to one dollar is applied, some people in Iraq will gain while others will lose, as follows:
Losers:
A- Savers in dollar. Iraqi savers lost confidence in the dinar. This urged many of them to keep most of their savings in dollars. These include traders and industrialists. When they will need to convert their savings to dinars, the loss will be huge.
B- Contractors in projects priced in dollars: Those are paid in dollar, but the majority of their expenses and local purchases are usually in dinar. This includes the labor wages and their purchases of materials of local origin. This is the case with building and construction contractors who purchase local supplies and construction materials (bricks, soil, sand, gravel). When they submitted their quotations they had evaluated their contacting service at the prevailing exchange rate before raising the value of the dinar and now they have to pay at the new rate and hence lose. After they handover the projects, they will receive the rest of their money in dollars.
C- Lenders in dollar: They will regain their loans valued at less than the value before the rate of the dinar was raised.
D- Borrowers in dinar: They will pay their debts upon maturity in dinars of a dollar purchasing power more than that at the time of lending. They will have to pay in a dinar that exceeds the lending rate by almost one-third. When the major collapse happened in 1995, thousands of traders announced their bankruptcy while indebted to others, and this was disastrous.
E- Employees who earn in dollar.
F- Estate lessors with rental allowances in dollar while their expenses are in dinars.
G- Estate tenants who pay in dinar while their income is in dollar.
Gainers:
A- Savers in dinar, for being able to buy more dollars.
B- Employees and workers who are paid in dinar, since they will receive the same pay but with a more purchasing power and a better exchange rate.
C- Producers: since they will sell their products for the more powerful dinar.
D- Borrowers in dollar and whose savings are in dinar: since they will pay their debts and their interests in the cheaper dollar.
E- Retirees: they will have more purchases with the same salary.
F- Those covered by the program of the social safety network (the retirees themselves).
G- Estate lessors in dinar.
H- Estate tenants in dollar while their incomes are in dinar.
This means that raising the dinar exchange rate will benefit some and harm others.
It is noteworthy that the terrible continuous escalation in prices during the 1980s and 1990s of the last century in Iraq was not due to an increase in the value of money itself, but due to the fact that this increase was not met by a real balance or a strong national economy and national income or a supporting domestic product. When the State issued currency, it behaved like a merchant who issues instruments with no balance to meet their nominal value. Moreover, there were the constraints of trade and external transfer. Otherwise, the amount of money in circulation in a country like Japan is more than the amount of Iraqi currency in circulation (as an absolute figure).
During the post-war period, the balance was met, but the rise in prices was due to high costs and shortage of supply. For example, the average of the prices of Iraqi vegetables and fruit has increased this year by 100% as compared to the prices of 2005, but due to the shortfall in production. The agricultural expert Jaber Abu al-Eis (Ministry of Agriculture) says that the execution rate in the agricultural plan for 2006 amounted to 17%. The prices of local poultry products this year are twice as much as 2005. The reason was the banning of the poultry industry, among the procedures of combating avian flu and the prevention of the importation of these products from many countries. Moreover, it was due to the rise in the costs of energy, fuel and transportation costs to the double or even more. Also there are the imposed royalties paid by the importers, producers and transporters to gangs and bandits, including kidnapping payments and ransoms. There is also bribery, corruption and alliances between businessmen and government officials, in addition to the high wages, the rise in prices and interests of loans caused by the Central Bank. All these factors led to an increase in the cost of production and inflation rates. Such factors have to do with costs and supplies while they have nothing to do with demand. Thus, the saying, "Much money looking for a few commodities" does not apply here.
The current inflation is due to high cost and shortage of supply. Nowadays, the government ensured assets that cover the nominal value of money and a domestic product that supports it. But there remain two options. The first option is to increase the quantity (number of units) by a third, raise salaries and wages and expand and improve the miserable network of social safety to include additional numbers of extremely poor people living at half a dollar per day amounting to four million. The second option is that the government raises the dinar exchange rate by one third as it is planning now.
In the first case, the needy employees and workers who are not covered by social welfare will benefit, and there will be no loss or damage to other people. In the second case, employees, workers, retirees and others will benefit, but, at the same time, others will lose as mentioned earlier.
According to reliable sources, the second option comes in implementation of the directives of the International Monetary Fund.

SO NOW WE KNOW WHAT CBI IS DOING....

But, as we stated in a previous article, the former American Secretary of State, Henry Kissinger, described the IMF as "a doctor who has only one pill for every conceivable illness".
* Mr. Ali Mahmoud al-Fakiki an Iraqi expert in economics

Here is another opinion posted by Mr. Ali Mahmoud al-Fakiki in this Beirut; Lebanon English website: Dar Al Hayat

Relax….Dr. Sinan Al-Shibibi is the only opinion that really counts and that is IMO

Just have a question if the CBI is taking dinars out Cir. Why do safe dinar have dinars.

Cash for Your Iraq Dinar Now at Select CHASE Banks in USA Cash for Your Iraq Dinar Now at Select CHASE Banks in USA
November 26,2006 12:00 AM EST

All Oklahoma City OK CHASE Banks and select locations in Houston, Texas will accept your Iraq dinar for exchange near Central Bank of Iraq rates. The day has come. (FVNEWSWIRE Sep 1, 2006)

Winnipeg, MB (FV Newswire) - Iraq Dinar online research alliance has discovered and verified by phone that CHASE bank has both guns blazing in the Iraq investment area. Cash for your Dinars today at Major USA Banks.

Persons who have questions about Iraq including the media will want to scour this Press Release as the 2nd largest question about Dinar is now answered. When can I cash my dinars in locally such as a major USA Bank. CHASE Bank put this question to rest.

Undercover Alliance Member Verifies Truth

First name Jason, he is one of our 2900+ Iraq Dinar Alliance members, 80% of which own Iraq Dinar report the following to the Online Iraq Research Alliance Darren Chabluk, Director of Research-

"I took a 10,000 note to CHASE and acted like I was going to (cash it in) and they looked it up in their computer and said they were authorized to exchange it now but they are only giving .00068 for it. ($680/million dinar)

Any branch in Oklahoma city and most branches in Houston. The phone number to the branch I went to is 405-378-0006 and ask for Becky Ayers or Mariah."

The address of the bank Jason went to is 11920 South Western OK City, OK. 73170 Cashing in now and in the future is a done deal.

Who would want to cash in now you may ask? It is not advised says Darren Chabluk, a former U.S. Treasury Registered Dinar dealer acting on behalf of the investors best interest.

"Buy Dinar if you want, but not more than you can afford to loose. Were dealing with a high risk, yet high potential for return", said Mr Chabluk in an early morning interview.

Critics: Hung buy the Tongue

- Civil War Scare is now an accepted fallacy since the Alliance has claimed civil war in Iraq for 3 years running already. And things are in fact looking up
- "Cutting off zeros (from Dinar Banknotes) will not happen", said the Governor of Iraq contrary to the Finance Ministers suggestion. Thousands of foreign workers would leave Iraq overnight in such case. Besides, Iraq is one of the richest with oil and THE richest with natural gas supply. Dinar has a foundation to grow on.
- Cashing in Dinar in the USA is huge thanks to CHASE Bank, they have a strong presence in the hearts of Iraqis. Inside and outside of Iraq.

Becky and Mariah from CHASE bank on South Western OK City, OK both agree-

Originally Posted by CharmedPiper

I didn't even give it a 2nd glance....not gonna' happen....Remember Shibibi, in my opinion, is the Einstein of the bunch over there.....he knows what needs done and I believe he had to go through all the steps to lead up to this to show them that all has been attempted and now he will bring out the big gun......REVAL REVAL REVAL 1.47 1.47 1.47 1.47......

Sorry to break your heart Charmed, but it's not going to open at $1.47.......

It's going to be higher!!!!! I'm sure your going to get over it

Gloribee

Originally Posted by Jola

I wish I did not find that article....:(

1000/dollar does not do it for me...:(

Maybe it's just like here in the good ol' USA: some experts are cerebral and all "book-larned" while others get graphite under their nails. So, let's look for another "expert" economist who may not have a political agenda.

A new policy of the Central Bank of Iraq to support the dinar and address of the dollar

صفد الساموك - بغدادSafed Alsamuk-Baghdad
An official of the Iraqi Central Bank : «The annual rates of inflation reached high levels exceeded 50% and in spite of the positive developments shown by the index for consumer prices as an indicator of inflation during September last, which was low by 13% but the inflation rate is still high base level of not less than 33%.
The Bank said in a press release yesterday that «inflation in the Iraqi economy, which negatively affected the security conditions resulting from the two sources of supply bottlenecks in the real sector, which is concentrated in the processing of fuel and its negative effects on the costs of transportation, communication and other production costs The other reason is attributable to the significant influence t aggregate demand for goods and services ».
He pointed out that the Central Bank of Iraq will «a new monetary policy aimed at reducing inflation by improving the base rate of the Iraqi dinar and raise purchasing power and make it more attractive means cash, which reflects the circumstances and encouraging indicators in the economy which would help in addressing the phenomenon of dealing dollar Alamirk j, which is one of the means unwanted in the work of monetary policy and the level of effectiveness to achieve their goals in reducing inflation ». In terms of improving the Iraqi economy, said an official source at the Ministry of Finance : The meeting of the preparations for the Iraq International held the day before yesterday in the United Nations headquarters in New York with the participation of the Iraqi government and the mission of the United Nations and with the backing of the World Bank.
The source said that the aim of this gathering returning Iraq to its natural position in the international community and create a dynamic firm in unifying consensus through the completion of the national vision on the government's political program and restore the confidence of the people of the ability of government to protect them and provide for the basic needs them ... The contract will establish the foundation work of mutual commitment and the political need to continue in the development of the economy through the material and political support and technical challenges to be level », as he said.

Translated version of http://www.alyaum.com/issue/page.php?IN=12207&P=15

Originally Posted by Gloribee

Sorry to break your heart Charmed, but it's not going to open at $1.47.......

It's going to be higher!!!!! I'm sure your going to get over it

Gloribee

Ok.....gotta ask......what is your guesstimate for the RV?
I'm still thinking 1.48 IMO.