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

[QUOTE=MrsCK;148813]

Originally Posted by smcquiller1

NOW THAT GETS A HUGE - FARM JIG!!!!
AND THANK YOU SMC FOR SEND OUT THIS
"""ROLCLUB SLAP""""

MERRY DINAR CHRISTMAS TO YOU AND YOURS!!

No luck with that "old article"? I didn't think there was one.

#2 Wow! This is getting easy.

Originally Posted by Wm.Knowles

SGS, thank you for all of your work. Despite the wonderful situation we are end there apear to be those that don't appreciate you, I am not one of them. Thanks

And as you know I also appreciate you to no end, I wonder how some of these folks would feel about all of this if they had no info at all? I have been involved in situations before where only a select few where told any info at all, every thing was keep a big dark secret, and I'll tell you I didn't like it at all. Give me the good and the bad and I'll make my own decisions. Right or wrong. That includes the rumors good or bad. I am a adult I have the right to hear it all. Keep it coming my friend you keep the hope alive and thats a good thing. So not only thanks to you Susie but to Wm. Knowles and C.P and Adster, MrsCK, Vipor, Daydream and everyone else that I didn't mention. Im glad then that I didn't go backwards a little bit ago and read all of the garbage. I'll do like I always do and go forward and live every day likes its the first day of the rest of my life.

Iraq’s Former Prime Minister Calls for Martial Law

Former Iraqi Prime Minister, Ayad Allawi has called for martial law to be declared in Iraq to help stem the flow of violence. Ayad Allawi is the first major Iraqi leader to suggest such draconian measures.
Allawi, in an interview with NBC News said “I think martial law is required” and added “I pray to God that we don't lose, because the other alternative is going to be the prevalence of extremism and terrorism.”
Just hours after his initial comments, 70 people were killed and an estimated 220 injured by car bombs at Tayaran Square, just several hundred yards away from the Green Zone in downtown Baghdad.

Originally Posted by billknows

"The first round of the talks has failed, now we are waiting for the second round,' a senior oil industry source said."

Does this really sound like todays article?

Exactly,

The last meeting was Friday of last week when Kurd's made concession if the HCL would go into effect immediately to avoid further delays, so it is old news recycles as usual.

Happy Holiday Season to all, Mike

Analysis: Iraq oil law stuck on contracts
By BEN LANDO
UPI Energy Correspondent
WASHINGTON, Dec. 13 (UPI) -- The completion of Iraqi oil law negotiations now hinge on whether the central or regional government has final say on oil contracts, a roadblock negotiators don't seem willing to give on.

There has been some advancement on creating a federal oil law, necessary for development of and investment in the world's third-largest crude reserves, though a top Kurdish official warns compromises his side has made have not been finalized yet.

Qubad Talabany, the Kurdistan Regional Government's representative to the United States, told United Press International Tuesday a new round of negotiations have begun in Baghdad but "we haven't made progress yet."

Sunnis and some Shiite factions in the negotiating committee are demanding the central government have the final word on all oil contracts while the KRG is leading the push to let this aspect be a regional autonomy issue.

Iraq has an estimated 115 billion barrels of proven oil reserves, the third largest in the world, nearly all of it located in the Shiite-controlled south or Kurdish north.

Negotiations on an oil law mirror the fate of Iraq: Sunnis fear the federalism that could result in money from Iraq's oil being withheld. They, along with some Shiite factions, eye a deciding role in a strong central government. Kurds and competing Shiite blocs are in favor of regional rights, fearing a central government doling out money could nix their fair share.

The current constitution is vague on control over oil, stating only existing oil is within the central government's purview and leaving all new or future oil in limbo.

The KRG, and others, interpret this to mean everything not explicitly detailed for the federal government implicitly falls under regional control.

Kurdistan has been semi-autonomous since 1991 and relatively free of the violence plaguing Iraq.

Within this setting, it has begun developing its oil sector, even signing contracts for exploration and production, which the central government has said aren't valid.

"The regions have their sovereignty," Talabany said. "Contracts must be respected by the central government."

He blames a strong centralized government for the Kurdish suffering during much of last century.

"The days of the Kurds being held hostage by Baghdad are over," he said. "We will not be made to feel like beggars."

Hamid al-Bayati, Iraq's representative to the United Nations, said central control brings unanimity across the oil sector, for investors and Iraqis.

"The compromise is the region will have a say on selecting the companies, selecting the proposals, but approval will be the central government," Bayati told UPI.

He said negotiations will continue "until the law is approved."

"This is the conflict you have," said Mohammed Zine, regional manager of Middle East for the energy analyst IHS.

He said now Prime Minister Nouri al-Maliki is facing heat to end violence in Iraq and is in turn resting "big pressure on the government and Oil Minister" to deliver an oil law to the Parliament.

He said he doesn't think this will happen by the end of the year, though there is no telling on daily events in Iraq.

"I don't see what the rush is. Even if you sign a contract there is still big problems with security."
A final oil law will have three main results: settle internal disputes over control of and revenues from oil; lay a groundwork for the estimated $20 billion of investments needed after years of neglect and mismanagement under Saddam Hussein, the toll of U.N. sanctions, the U.S.-led war and ongoing attacks by Sunni and Shiite militias; and both will lead to increased income that can be put toward other reconstruction and upgrade security in the country.

News reports over the weekend claimed a deal on the oil law was close, though Talabany explained each glossed over major remaining issues.

He said while the Kurds have compromised on oil revenue sharing and allowing the central government to be responsible for this collecting and redistributing it, "the mechanisms for distribution of revenues have not been agreed upon yet."

He said oversight, technical and constitutional details "to ensure regions get their share of revenues" have not been finalized. This comes from the fear a central government, be it fueled by greed or a sectarian agenda, will not deliver on the money a region may be due.

--

Originally Posted by texaslonghorns

I truely hope you are right Michael! If we don't see a larger reval after the FIL and HCL are inacted, then I'll start to worry. This is an all or nothing investment. We will either make a huge amount or loose it all. It all depends on the CBI's actions.

Huge amount or lose it all? That statement makes no sense at all due to the fact that you purchased the dinar at a level it can't fall below. It can only go up from here so hang in there!!

Originally Posted by fsndirector

And as you know I also appreciate you to no end, I wonder how some of these folks would feel about all of this if they had no info at all? I have been involved in situations before where only a select few where told any info at all, every thing was keep a big dark secret, and I'll tell you I didn't like it at all. Give me the good and the bad and I'll make my own decisions. Right or wrong. That includes the rumors good or bad. I am a adult I have the right to hear it all. Keep it coming my friend you keep the hope alive and thats a good thing. So not only thanks to you Susie but to Wm. Knowles and C.P and Adster, MrsCK, Vipor, Daydream and everyone else that I didn't mention. Im glad then that I didn't go backwards a little bit ago and read all of the garbage. I'll do like I always do and go forward and live every day likes its the first day of the rest of my life.

fsd, you make a great point. I too have been in a position where no Info was available to most. While I cant find all the great articles as most, I feel my job is to find pertinent Info. from friends who have boots on the ground. This is to help verify and follow-up questions from this forum. Sometimes I need more contacts to verify Info, and thats what nice about RolClub. vast #'s of people with verying degrees of background. Thats why we all share, even if only moral support of woots jigs or yehaaas. Everyone here is great and also one of the first things I do when on. See who's lurking. You have all become my friends and I like it that way.

Gloribee

Afghanistan currency is worth .02 US
It's the armpit of the world!

Iraq has a currency worth .00000000000000bllthth US
It's the world's best hope for oil!
Every country wants a piece of it!

I wonder if the dinar is going up?

YOU MUST BE KIDDING!

BIG REVAL COMING!!!!!!!!!!!!

Originally Posted by DayDream

Found this...

Germany converted to the euro on 12-31-01 from the German Mark (DEM). On 12-31-01 their currency was valued at .4530 USD and when they switched to the euro the next day 01-01-02 it was valued at .8920 USD
making it a .439 cent USD jump in a day.

01-02-02 .8899 USD
01-03-02 .9039 USD

Cheers!
DayDream

I don't think this is a relevant situation though. The fact that a CONVERSION from the DEM to the EUR was involved was the real issue here. I doubt that there was any real change in the value to anybody's actual holdings. I do not know the detalis of that conversion but I am sure that it was not a 1 DEM gets you 1 EUR deal.

Likely the convesion factor from DEM to EUR was something like 0.5078 so if you had :

10,000 DEM on 01-02-02 would have gotten you maybe
05,078 EUR

12-31-01 .4530 USD = 1 DEM so your 1,000 DEM = 4,530 USD
01-01-02 .8920 USD = 1 EUR so your 5,078 EUR = 4,530 USD

Same value just a new currency. Hopefully NOT what we will see in the future of the IQD (at least not until 2010 when they too might be converting to a common currency similar to the EUR).

Originally Posted by clueless

I don't think this is a relevant situation though. The fact that a CONVERSION from the DEM to the EUR was involved was the real issue here. I doubt that there was any real change in the value to anybody's actual holdings. I do not know the detalis of that conversion but I am sure that it was not a 1 DEM gets you 1 EUR deal.

Likely the convesion factor from DEM to EUR was something like 0.5078 so if you had :

10,000 DEM on 01-02-02 would have gotten you maybe
05,078 EUR

12-31-01 .4530 USD = 1 DEM so your 1,000 DEM = 4,530 USD
01-01-02 .8920 USD = 1 EUR so your 5,078 EUR = 4,530 USD

Save value just a new currency. Hopefully NOT what we will see in the future of the IQD.

I'm not sure if it was relevant either. Was just showing the conversion factor in conjunction with how it affected the USD amount. Looked good to me.

Cheers!
DayDream