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

Yet, one more article dated 11 December with Shabs himself explaining what he is doing to control inflation.

Raising the value of the dinar against the dollar by the Central Bank (11/12/06)

On his part, Governor of the Central Bank, Sinan Shabibi said that: "The aim of the Central Bank currently is limited in the fight against inflation, which reached about 76% and reduce its heightening, through the provision of better conditions for economic development, improving the performance of the banking sector and providing stability in it".

Shabibi said that among the reasons of inflation is the increase in cash circulation, which made it necessary to follow a new monetary policy, aimed at improving the dollar's exchange rate towards reducing its price several points in the auction, organized by the Central Bank every day to sell the dollar, to withdraw currency from circulation.
Director General of Researches at the Iraqi Central Bank, Dr. Madhhar Mohamed Salih, said: the Iraqi Central Bank is responsible, according to the law No. 56 of 2004, for dealing with inflation and reduce its levels. This principle forms the main objective adopted by the monetary policy in performing its duties. Accordingly, the Central Bank must set the priorities of its policies; meaning, the monetary policy to fight inflationary activities using the tools available.

Iraq Development Program - Raising the value of the dinar against the dollar by the Central Bank

Attacks in Iraq at record high: Pentagon 2 hours, 39 minutes ago



WASHINGTON (Reuters) - Attacks in Iraq on U.S.-led forces, local security personnel and civilians have surged 22 percent to record levels, the Pentagon said in its latest quarterly report on Iraq published on Monday.

The report also noted a rise in civilian casualties and said this was directly linked to the rise of sectarian death squads, which were helped by elements of Iraqi forces.

The report was released on the day Robert Gates was sworn in as U.S. defense secretary and as President George W. Bush considers changes to his Iraq policy. Gates replaces Donald Rumsfeld, heavily criticized for his handling of the war.

"Attack levels -- both overall and in all specific measurable categories -- were the highest on record during this reporting period," said the report, "Measuring Stability and Security in Iraq," produced for the U.S. Congress.

The average number of attacks per week rose to 959 in the three months from August 12 to November 10, from 784 in the previous three months, according to figures provided by the Pentagon to accompany the report.

While U.S. commanders have said they continue to battle insurgents and al Qaeda militants, they have identified sectarian violence between Shi'ite and Sunni Muslims as the biggest obstacle to stability in Iraq.

The report said civilian casualties from attacks had risen a further 2 percent over the previous three months and by some 60 percent compared to earlier in the year.

"Death squads predominantly target civilians and the increase in civilian casualties is directly correlated to an increase in death squad activities," the report said.

"Shi'a death squads leveraged support from some elements of the Iraqi Police Service and the National Police who facilitated freedom of movement and provided advance warning of upcoming operations," the report also said.

"This is a major reason for the increased levels of murders and executions," it said.

The Pentagon's figures put daily civilian casualties at 93 for the reporting period, although the report says the numbers are not precise because they come from unverified initial reports and should be used only to draw comparisons with previous periods.

Went to Chase Bank today to see if I could pick up some more dinars. It was just as easy as the last time only it cost me about two dollars more per million. Not bad since the last time I purchased was before all these dramatic raises from the CBI. What I like is that they don't require a cashiers check and they deliver without a delivery fee. They will call about 1:30PM to let me know the package has arrived. Works like clock work.

We have all been through so many ups and downs over these past several years, I'm actually a little numb as I sit and contemplate the reality of what is happening. I believe it is probably the same for most all our RolClub family. I have dreamed of these coming days so many times. I think I know how I'm going to react, but as the reality dawns on me I find that I'm really not as prepared mentally as I thought I'ld be. As I drive in my car and sit at a traffic light, I look over at the people in the car beside me and I think, "Do they know about the Dinar"? Probably not. I am so blessed, as we all are to be among such a select few (comparatively) to be able to participate in this wonderful event in history. I pray that I remain humble and never forget what it is like to live day to day, paycheck to paycheck. I want to help so many people, friends and family, I know I have to temper that feeling and be smart about these resources. Don't give away the principal, use the gain on the money and it will last many many lifetimes.

I read an interesting bit of information not too long ago. Did you know that 83% of all lottery winners who take their winnings as a one time lump sum, end up right back where they were before they won the money within 5 to 7 years. Can you believe that!! It was a very comprehensive study of many hundreds of lottery winners. Most say they did not know how to manage the money and they didn't trust professional money managers because they thought they might rip them off. What I do know is that I don't have all the answers about money management and I'm going to find the best in the business to handle our funds. Who cares if they charge you a handsome fee, if they perform and make you alot of money. Thats what America is all about.

I've been rambling, but I just wanted to share my thoughts about what I'm going through. Maybe it's the same for some of you guys as well.

Originally Posted by phone guy

could you straighten me out on my question?If they do a 1:1 all the iraq people become rich how can that be possible? How can they cover all that money paid out to gov. employees,not to mention they will probably quit work and live off of the money they already have???????

If the average Iraqi makes $3 per day (say 4,500 dinars) they are not going to continue to pay him 4,500 dinars after the reval. They will adjust to the proper level. Where they will prosper is if any of them have been able to put any money into savings. However, with inflation as high as it has been running, I doubt if the majority of Iraqis have much money tucked away.

Originally Posted by MOM2TWO
Hey Y'all,
Just got off the phone with my dealer/friend. He told me that they got another shipment in today. I asked him how this could be because apparently the cbi is no longer putting anymore dinar into circulation. Fearing that I was dealing with counterfeit, I asked him to call his boss. He then called his boss at home, and his boss apparently said that he was not worried at all about counterfeit that his guys are still purchasing from the cbi direct. What??? How is this possible???

I have checked my dinars from this company, and it seems that they are legitimate.

Please give me your thoughts. BTW, I have used someone from this business.. in Houston. I know through PM's that others have used the same.

Distributors of Fine American Gold, Silver, & Platinum Coins Note: all coins prices are not accurate. - Home

Thanks in advance!!!
Melissa

I don't know if this might help explain things. One of the last purchases I made at Chase, to my surprise all the bills were 10K notes. The interesting part was that they came in bundles and they were wrapped with a money band that said,"CREDIT SUISSE, Zurich, Switzerland" Seems to me the Dinar supply outside Iraq is making its way through the worlds banking systems.

Originally Posted by phone guy

But what about all the gov. workers ?

Same thing applies. The gov will adjust their pay to the level of the new value for the dinar.

Originally Posted by Socata 850

If the average Iraqi makes $3 per day (say 4,500 dinars) they are not going to continue to pay him 4,500 dinars after the reval. They will adjust to the proper level. Where they will prosper is if any of them have been able to put any money into savings. However, with inflation as high as it has been running, I doubt if the majority of Iraqis have much money tucked away.

Also, look at Kuwaitis... most of them are retired , since they live off the oil proceeds. Not that Iraq is able to provide that just yet, but Iraqis will soon start receiving proceeds as well, and many will quit their day jobs, or just become business owners and bring in foreigners to do the menial jobs , like they do in Kuwait, and other ME countries... UAE comes to mind too.

Originally Posted by phone guy

Right, but they already aquired a big chunk Im sure

The only "government workers" that could have acquired a "big chunk" are the politicians. When have we ever seen politicians who weren't out to make a buck any way they could? Look at the politicians in the US, how many senators/congressmen are millionaires? (at least 40 senators and 25% of congressmen). Not to mention, when have you seen a politician do any work to begin with?

Originally Posted by Socata 850

Went to Chase Bank today to see if I could pick up some more dinars. It was just as easy as the last time only it cost me about two dollars more per million. Not bad since the last time I purchased was before all these dramatic raises from the CBI. What I like is that they don't require a cashiers check and they deliver without a delivery fee. They will call about 1:30PM to let me know the package has arrived. Works like clock work.

We have all been through so many ups and downs over these past several years, I'm actually a little numb as I sit and contemplate the reality of what is happening. I believe it is probably the same for most all our RolClub family. I have dreamed of these coming days so many times. I think I know how I'm going to react, but as the reality dawns on me I find that I'm really not as prepared mentally as I thought I'ld be. As I drive in my car and sit at a traffic light, I look over at the people in the car beside me and I think, "Do they know about the Dinar"? Probably not. I am so blessed, as we all are to be among such a select few (comparatively) to be able to participate in this wonderful event in history. I pray that I remain humble and never forget what it is like to live day to day, paycheck to paycheck. I want to help so many people, friends and family, I know I have to temper that feeling and be smart about these resources. Don't give away the principal, use the gain on the money and it will last many many lifetimes.

I read an interesting bit of information not too long ago. Did you know that 83% of all lottery winners who take their winnings as a one time lump sum, end up right back where they were before they won the money within 5 to 7 years. Can you believe that!! It was a very comprehensive study of many hundreds of lottery winners. Most say they did not know how to manage the money and they didn't trust professional money managers because they thought they might rip them off. What I do know is that I don't have all the answers about money management and I'm going to find the best in the business to handle our funds. Who cares if they charge you a handsome fee, if they perform and make you alot of money. Thats what America is all about.

I've been rambling, but I just wanted to share my thoughts about what I'm going through. Maybe it's the same for some of you guys as well.

Great Post!

Originally Posted by phone guy

Thanks,but some normal folk have to be holding a couple mill like us.In fact maybe more then the total number of us . Again not being negative just curious . So many questions so little time

Why do you think that? It's been reported that the average Iraqi has an income of about $7 a week. I don't imagine them putting much into savings. As for the Iraqi's that were wealthy before the exchange, they most likely kept there money as USD/EUR/etc.. do to the dinar being heavily counterfeited. I am not saying that some Iraqi's do not hold millions of dinar but I think the number would be pretty low.