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

Originally Posted by CharmedPiper

Remember that the 1345 recommendation by the IMF is simply that a RECOMMENDATION. The CBI is not bound by the number 1345. I wouldn't put much faith in the 1345.....They could make a huge jump now....they do not need to hit 1345.

As I posted earlier, if they actually go past the 1345 number before the endof the year, that's when to start to really get excited IMO. After Jan 1, it's anybody's guess with their public statements about implimenting various public programs whether they will "dribble, spurt, or jump" the value of the dinar where it should rightfully be. If anyone has added up all of these announced programs in todays value of dinars it is trillions and trillions of dinars. Hopefully they be able to adjust these public numbers in a bold way after a r/v without the need to either go backwards or print additional dinars.

I certainly am in agreement with OSW and others when they say one thing is for sure, the Iraqis never seem to be in a hurry about anything especially when it comes to the welfare of their own people. I with others hope that we are leaving the crawling stage and at least entering the walking stage of the r/v. If it were up to me I would have r/v'd the dinars eons ago, but as we all know, it's not up to me.

My wish is that Charmed Piper is right and they will just r/v the thing this week. But the track record established by Iraq so far is they will take seemingly for ever to do the patently obvious thing that needs to be done.... r/v their currency in a bold decsive way and get out of the way of progress and prosperity for their country. Give the purchasing power to their people, get out of the way, and let them prosper all ready will ya??!!

worf

President of the Republic stresses that the solution to the country's problems would be through the interrelationship between the political and security tracks

December 17, 2006December 17, 2006

President Jalal Talabani, a delegation of members of Congress, including John Kerry, Christopher Dodd, in his headquarters in Baghdad, on Sunday, 12-17-2006.
And President Talabani, during a meeting that the solution to the country's problems would be through the interrelationship between the political and security tracks.
Excellencies, the members of the congressional delegation, a detailed explanation about the current situation in the country, and the evolution of the political process designed to lay the foundations of democracy, as well as efforts to form a front that includes all forces that believe in the march of democracy.
In contrast, the price of the members of the delegation of the Congress the role of the President Talabani to pay the political process in Iraq forward and position in support of the draft national reconciliation.
Translated version of http://www.iraqipresidency.net/index.php?language=arabic

WoooHooo, up $23.00. Which ways the mall ??? Thanks for the spread sheet Adster. Its pretty cool. how did you ever manage to make that? Its just great !!!

Gloribee

and turn Iraq into an arena for settling accounts. Launching a national reconciliation conference in Baghdad and the formation of four committees to follow up its recommendations. Prime Minister : acceptance of the principle of dialogue and overcome the rejection was made prior to the front ... Barzani : The time has come to say no to terrorism, no to civil war, no to dictatorship, no to the same party

Baghdad / follow-up justice began yesterday in Baghdad, the political forces of dialogue and national reconciliation presence of more than 200 personal and the Prime Minister gave a speech in which he called for the establishment of political formations and the Frente be expanded over sectarian loyalties to lead the country away from the quotas. He said in his speech at the political forces of national reconciliation : "We must take in order to strengthen the capacity of our security", he said, adding : "the need to have a government with arms in the hands of militias, which delighted Karat system, but must find a solution for it." Al-Maliki added : "The participation of the political forces in this Conference is a sign of a strong will and appreciation of the situation in Iraq." He continued : "The acceptance of the principle of dialogue and overcome the principle of rejection prior longer progress forward. For his part, Mr. Abdul-Aziz al-Hakim, leader of the United Iraqi Alliance bloc : "The political forces of the individual components of the facts in Iraq today, which has become the whole of Iraq's unity." He added in his speech to the conference yesterday, Saturday, the political forces : "These facts must be the focus of our debate and our agreement which defines us track

FULL STORY FOLLOW LINK:
Translated version of http://www.aladalanews.com/

Originally Posted by shotgunsusie

from the sounds of this everything is done with the hcl, and the new budget will have the revalued dinar. that puts the chance of a large revalue BEFORE the enactment of the 2007 budget on january 2.

Amen to that one!

By the way, anybody heard something about the adoption of ICI?

Searched yesterday, but nothing. They must have those meetings already and the formal launch should also be around now??

Originally Posted by Gloribee

WoooHooo, up $23.00. Which ways the mall ??? Thanks for the spread sheet Adster. Its pretty cool. how did you ever manage to make that? Its just great !!!

Gloribee

I got it from Mike off IIF forum, he's happy to share the good news!!!

Originally Posted by TerryTate

WOOT.


Down 11 points today from 1411 to 1400. So, much for small increments of 2, 3..... Cmon Shabs keep her rollin, train keep a rollin all night long, train keep a rollin all night long....

Would be sooooooo great to see this trend continue. Does the CBI keep us guessing or what?

Not what we all want right now, but it is probably the right thing for now. Looking forward to the rest of the week, man I hope I can sleep...

Anyone want to place a bet if they end at 1345? LOL I don't want them to either, but how ironic would it be if they did just what the report said they were gonna do. Anywho, hope the markets heat up and make them reval (yes wm. I think you are right).





Man, it keeps getting interesting.

I hope that the 11 point increase from the 2-3 point increment is the bottom of the curve starting to curl up up upwards

Adster... i requested one(spreadsheet) but never got it.....did i mess up my request ?
us newbies are a pain eh ....

Originally Posted by nikki

Adster... i requested one(spreadsheet) but never got it.....did i mess up my request ?
us newbies are a pain eh ....

Here you go and for anyone else.

Oil and Iraq - Dec 13
PSAs and Iraqi oil

...The truth, however, is that plans have been underway for some time, beginning even before the invasion, to ensure U.S. and British domination of Iraqi oil. When neoconservatives in the early days of the occupation proposed the privatization of oil resources what they were referring to was legal ownership of the oil reserves in the ground, prior to extraction of the oil. It was this form of privatization that Washington adamantly rejected.

But private ownership of oil in this sense exists in no country of the world except the United States and was never a genuine option. The real issues of privatization are not who owns the oil in the ground, but who gets the revenue from the oil once it is extracted and who controls its development and exploitation.

Classical oil imperialism in the early decades of the twentieth century took the form of long-term concessions that the colonial countries and their giant oil companies imposed on the oil-producing countries in the periphery. The corporations of the colonial powers took charge of the development and exploitation of oil fields and got the revenue from the sale of the oil, paying royalties and taxes to the governments of the subject states.

...With the old imperial concessions model increasingly no longer feasible, Western oil companies and their governments concocted a new model called the “production sharing agreement” (PSA). PSAs provide political camouflage while embodying the material equivalent of the old concessions regime.

The oil states appear to retain control, but both the revenue stream and decisions on the development of oil fields are under the control of the giant oil corporations, which are in a position to reap enormous profits from the extraction and sale of the oil in accord with these agreements.

The future actions of oil states are severely constrained under such agreements, since provisions in the PSAs make them immune to the passage of any subsequent legislation that might alter the basic rules. PSAs grant to corporations exclusive rights to exploit oil reserves for decades. Moreover, they allow them to “book” these reserves as assets, increasing the total asset value of their companies.

Although PSAs are not uncommon for small oil producing countries with high extraction costs, often involving offshore fields, they are non-existent among major Middle East producers, and only cover about 12 percent of oil reserves worldwide.

Of the seven biggest oil exporting countries (including Iraq) only Russia, as a result of the Western-dominated shock therapy regime after the collapse of the Soviet Union, has PSAs, but these are extremely controversial, costing the state billions of dollars, and additional ones are unlikely to be signed (Greg Muttitt, Crude Designs: The Rip-Off of Iraq’s Oil Wealth [PLATFORM, 2005] www.carbonweb.org).

The Iraqi government is required to complete its final oil law by the end of this month in accord with an agreement concluded with the IMF a year ago.

The new draft oil law was written mainly by Washington and London and by the representatives of the giant oil corporations.

As leading British oil industry analyst and critic Greg Muttitt observed in Foreign Policy in Focus (Foreign Policy in Focus - A Think Tank Without Walls, August 28, 2006):

“Last month, the administration and major oil companies reviewed and commented on a new law governing Iraq’s crucial oil sector, before it has even been seen by the Iraqi parliament” (emphasis added).

Although written behind closed doors, it is clear that the new draft legislation strongly promotes PSAs.

While the actual details of the draft legislation are not yet public, in an earlier stage of negotiations over the Iraqi oil industry it appeared that foreign companies would be given control of all currently undeveloped Iraqi oil fields, potentially allocating to global oil corporations control over 80 percent or more of Iraq’s known oil reserves.

For the first time in more than three decades, since Iraqi oil was nationalized in 1975 under Saddam Hussein, foreign firms would gain control of Iraq’s oil, booking it under their own assets.

Given the present occupation, U.S. and British firms would obviously be well positioned to obtain the lion’s share of such contracts.
(Dec 2006)

Oil and Iraq - Dec 13 | EnergyBulletin.net | Peak Oil News Clearinghouse


Confirmation that it has to be done by 1/1/2007!

I think Blair will also this discuss it during his visit.