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

http://www.iraqdirectory.com/DisplayNews.aspx?id=533

More good news.

To get involved pm me for details.

Hi dinar gang I've got $110 ready for Iraq dinars spending.
Freedinars here I come :) This is going to be fun...


See yeah all

I'd heard that HSBC were looking to get involved in Iraq, and now it's been confirmed. Now why would a Western Bank hold a majority of shares in an Iraqi Bank? Hmmmm, to make more money and a lot of it too. They would not risk something they thought wasn't a 'goer'.

Things are happening people.

http://www.hsbc.com/hsbc/news_room/n...html&isPc=true

A possible SBA to be announced?

http://www.imf.org/external/np/exr/sked/index.asp

sorry but what is SBA?

Standby Loan Agreement.

Basically it's a huge sum of money that will be loaned to Iraq by the International Monetary Fund that can be used for anything they see fit. Just like you or I going to the bank cap in hand asking for money.

Some feel that with the elections on Dec 15th and the SBA in place a r/v won't be far off.

A press release by the Vice President of Iraq, Mr. Adel AbdulMahdi, revealed that the Iraqi debts have been waived by 90% from U.S.; $130 billion to $15 billion. More debt is expect to be admonished over the next couple of weeks.

France forgives all of Iraqs debt too according to CNN.

2006 is looking grand. :0)))))

Originally Posted by Adster

A press release by the Vice President of Iraq, Mr. Adel AbdulMahdi, revealed that the Iraqi debts have been waived by 90% from U.S.; $130 billion to $15 billion. More debt is expect to be admonished over the next couple of weeks.

France forgives all of Iraqs debt too according to CNN.

2006 is looking grand. :0)))))

Lookin Good Adster,

For those who may not realize the impact this will have by forgiving all this debt, look at it this way. Imagine if the largest company in the world, GM as example since it is in news recently with financial problems. Since they are in severe financial straits at the moment, this would be a good example as they are on the brink of bankruptcy. If all there debt was suddenly forgiven, what would their financial stability be then? Obviously, what cripples a company is debt, and the cost of servicing this debt. In GM's case, it is related to pensions and health care commitments they cannot afford to keep paying.

OK, now lets look at Iraq as we did GM, an even larger company than GM as far as assets got, as in oil, natural gas reserves, as example. Now we all know how important oil and gas is, but are GM cars as important? Heck, we could go out and buy a Ford or Toyota, so the impact of GM going bankrupt is not the end of the world for consumers, but it will hurt some.

Nor is Iraq the only place to get oil, but which is more important, the oil and gas or the GM vehicles? Oil and gas are more important, and since Iraq will soon take over the number one country in oil reserves over Saudi's, I know which company I would want to have stock in, and I hate to say it, as I do own GM stock too, but it has been a turkey for many years as far as stocks go. Given that almost all debt has been forgiven as Adster posted, the comparison of GM to Iraq is about as easy as it gets to compare regarding values. Give me stock in Iraq any day, and the easiest convertible stock to own is their currency in my opinion. (g)

Good luck to all, Mike

Guys, i have done some more DD on the matter now.
Do you know if we need to have the dinars in a bank account?
what about http://www.investorsiraq.com/ telling people to open a account in
http://www.warkainvestmentbank.com/contact_us.htm and then let you have your dinar in a bank insted so you can safely exchange it to USD when the time comes?

Adster? Offshore-wealth.com any suggestion or ideas.
Do we lose anything on that?

regards

Marek

Marek,

There are those some of which are based in Iraq, Kuwait, Saudi etc that have opened accounts with Warka, Dar Es Salaam and other banks just in case if a r/v happens then it might be kept within Iraq and not open to the rest of the world.

This is highly unlikely, in order for Iraq to be a 'player' on the world stage and move forward they have to trade internationally with the big boys like Japan, US etc so they need a convertible r/v worldwide.

There is no doubt in my mind that it will come onto the world markets, it has too, Bush has put too much into the country for it to not have any impact for the US. They have forgiven $115 billion already with more to come. Oil is the key, oil=money and lots of it.

I've thought long and hard about this and am happy to have my Dinars 'physically' rather than in an Iraqi bank whom with all due respect could 'lose' my Dinars. Plus there is also the chance of the bank being blown up. Will you see your Dinars then? Don't think so.

So to answer your question Marek I won't be transferring my Dinars to an Iraqi bank. When this baby hits internationally onto the world stage it will be exchangeable in western banks.

Just a point on that. There was a half page ad in USA Today from a bank in Houston, Texas advertising the Dinars and selling them.

Now would they really be doing this if they didn't know something was on the horizon? :0)

Just found this too, very interesting.

http://www.iraqupdates.com/p_articles.php/article/4002

This could be the beginning of something big! Remove all restrictions on the IQD to allow and promote international trade. I guess we'll find out soon.

Adster.