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

Yes thats right all the countries wait to seen the oil law enacted.They just wait for that to sign the international compact,after this final step Iraq can r/v the dinar but not before that.So don't expect to see a R/V until we seen this final step.Its the key for our success!!!

Originally Posted by Mike5200

So Adster You don't think that the 2007 budget is in place already with the RV amount figured in?You don' believe they would have to RV before the start of the new business year ? Wasn't it mandated that the HCL must be done by Dec 31st? Why do you always manage to wiggle out of your own timelines as soon as we get close to them? Now your saying March???????

The 2007 budget is the main focus of the 3rd SBA review which is completed.

As for the HCL, the mandate was in fact Dec 31st....just like the mandate of the Constitution in Aug 2005 and the election of the PM and appointing of his cabinet and we all know how those mandates turned out.

March does seem to fit since it is the month the SBA is scheduled to expire thereby releasing the GoI of its obligation.

My first and only post.

My thoughts

Originally Posted by Adster

1 SDR = $1.48 multiplied by 2.21 = around $3.22.

I respect my source who has high up contacts. Have got to know him well over the last 18 months.

Adster!! I believe the $3.22 rate, not because I have sources but for the following reason.. Ever since the BOB site came up on Oct 11, 2005, I saw the 1USD = .31ID, which is $3.22. If in fact the BOB books have the Banks assets valued at $3.22, then anything less then $3.22, the Bank would have to Write down Assets to the New value!! Does anyone know what that means? That means they are BANKRUPT!! That means every Bank in Iraq that has valued their assets at $3.22 is technically "BANKRUPT". Will the CBI let that happen?? Not Likely!!

[quote=billknows;151333]

Originally Posted by Raditz

Wouldn't this be something - to discover that the CBI is slipping lower denominations into circulation. Certainly it's a possibility and certainly it's an action they would need to take at some point in the near future.

Agreed,

But with all the contacts inside Iraq we have, I am certain one of us would have heard about it. (g) Still no handout of 10K as of end of Tuesday, so once again, makes you wonder why there is not a peep about it in months?

Happy Holiday Season to all, Mike

Originally Posted by opps50

This is fact

These are recommendations by IMF

I don´t know if they have to follow those but I guess so

Adster, do you have a comment on this

Interesting,

We know the IMF is not in power to induce CBI to do anything, it is simply a recommendation, and CBI is conforming to demonstrate that they do indeed have control of dinars value, and this will bode well when the time comes to revalue.

All along this was the goal, to establish stability of dinar, and in my years of following it, they have indeed proved this. It first was demonstated with very little movement up or down, and now with reason of inflation, they are again proving they have total control over currency, and even better sign of stability in the eyes of the world, which is where the focus is at the moment with FIL and HCL done.

We all know Iraq is now in the mode of attracting investors to restore and create the largest oil reserves in the world, and this has always been the main goal. All the rest is just the crawling before walking, and now that walking stage is complete, we will be off and running any minute. (g)

Happy Holiday Season to all, Mike

Originally Posted by EJAMM

The 2007 budget is the main focus of the 3rd SBA review which is completed.

As for the HCL, the mandate was in fact Dec 31st....just like the mandate of the Constitution in Aug 2005 and the election of the PM and appointing of his cabinet and we all know how those mandates turned out.

March does seem to fit since it is the month the SBA is scheduled to expire thereby releasing the GoI of its obligation.

My first and only post.

My thoughts

its starting to look like they are getting to the 1345 projection..which i was asking about a couple of weeks ago..with hardley no response..I understand cause everyone thought it was going to reval huge everyday..lol now im hearing about the 1250 projection by march?hmmm could it possibly be they are doing exactly as expected in these projections?? dont get me wrong I would be extremely happy if it revaled huge anyday now.. but this thought that it must reval by this date keeps comming and going... i wonder if we would retain our sanity if we just expected it to be a slow steady ride..and then if it does reval big wouldnt that be a great surprise.. instead of the constant let down..I just feel sorry for some of the folks that i know are getting all their hopes up that this is going to blast off any min.. one thing is for sure folks..we are going to be rich..it may not be overnight..but it will come , even if slowely and surely..ohh hears some news my friend can no longer by dinar at his chase bank.. but i ordered some form mine on friday and picked it up yesterday! so some evidently are selling and some arent.. btw he has orederd and picked up from that particular branch b4 , Ive noticed even wm knowles mentions the party in the caymens being in the summer and we should be there by then.. hmmm wonder if deep down he has set his mind for the slower and steady route.. just maybe easier on the nerves is all...i notice the natives are gettin kinda restless again..lol good luck all and go dinar!!!

WHAT IS A SPECIAL DRAWING RIGHT (SDR), AND WHAT IS IT USED FOR?

The SDR (Special Drawing Right) is an artificial "basket" currency used by the IMF (International Monetary Fund) for internal accounting purposes. The SDR is also used by some countries as a peg for their own currency, and is used as an international reserve asset.

The SDR consists of 44% U.S. dollars, 34% Euros, and 11% each of Japanese Yen and the British Pound. ($1.501880 USD – December 15, 2006)

SYRIA TO PEG CURRENCY TO SDR - KHALEEJ TIMES - 31/10/2006

Syria plans to remove the pound from its U.S. dollar peg and link it to the International Monetary Fund's special drawing rights (SDR) in the first half of 2007, the central bank governor told Reuters on Monday.

"We will change the peg for the Syrian pound from the (U.S. dollar) to the SDR. At present the Syrian pound is pegged to the dollar at 52 pounds to the dollar. We plan to peg it to the SDR in the first half of 2007, perhaps in May or June of next year," Adib Mayaleh, Governor of the Central of Syria, said on the sidelines of a Commonwealth Business Council investment summit. "We decided to do this because this IMF basket reflects our trade composition," he said.

Originally Posted by Offshore-Wealth.com

Interesting,

We know the IMF is not in power to induce CBI to do anything, it is simply a recommendation, and CBI is conforming to demonstrate that they do indeed have control of dinars value, and this will bode well when the time comes to revalue.

All along this was the goal, to establish stability of dinar, and in my years of following it, they have indeed proved this. It first was demonstated with very little movement up or down, and now with reason of inflation, they are again proving they have total control over currency, and even better sign of stability in the eyes of the world, which is where the focus is at the moment with FIL and HCL done.

We all know Iraq is now in the mode of attracting investors to restore and create the largest oil reserves in the world, and this has always been the main goal. All the rest is just the crawling before walking, and now that walking stage is complete, we will be off and running any minute. (g)

Happy Holiday Season to all, Mike

Let's not forget the IMF Article VIII. If Iraq wants to be accepted in the world currency markets, they need the Article VIII signed, sealed and delivered. In order to achieve this, they have to comply with IMF recommendations.

http://66.249.93.104/translate_c?hl=...first_page.htm


as soon as possible i'll send you a full interpretation abuot the page that you send it to me
but in general, this paper wich sign by all the leader ships in iraq to work on (PEACE PLAN ) and they was sayying that we will stop the sactarian violance in iraq and we will work togather to get this contry better and to make the iraqi people stop killing each other .
just give me two days i'll pass to you the the full translations for this paper
take care ,
yaser


Hope this helps Susie, as he says, I'll get a word by word back in a couple days.

Gloribee