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

Originally Posted by karinc

Are these the same sources that said 29 of June last month? (or whatever date it was; don't remember exactly) I hope not; they were wrong then... I hope your sources (and Cigarman's and Mike's) are right this time!

I am going totally NUTS!!! All the waiting, the anticipation, the worry...
Mixed with the day - and night! - dreaming on what the money will be used for!
/K

True,

It is tough to report what we hear, but whenever and whatever we are hearing from whoever, it is the basis for what we have all been waiting for, but as we know, having all the pieces in place is only part of the picture, for timing of announcements is the hang up.

What we have been hearing is real, as we know it, but as we saw at the end of June, the decisions were made, but then they decided to test the international feedback by stating they were looking to revalue at from .68 to $3.22, which was smart. Now that we have seen no articles of resistance, I do believe that was the final signal of approval, so here we all are waiting. (g)

Of course everyone wants it to happen yesterday, but the way I look at it, I am enjoying the ride, and it will only make the destination that much better. Remember how good it felt thinking about our PIPS accounts, well, I must say, I enjoyed that ride too, but our dinar ride will have a happy ending, unlike the former. So we all learned patience, right? Hang in there folks, we are getting real close, so enjoy the ride.

Good luck to all, Mike

Originally Posted by cigarman

So Treater, if they did a internal reval we could still exchange our dinars here? I don't think so. That's what I meant about being traded on the market.

I agree. It will have to be traded globally before we can exchange. If I have gathered this all right. So if they internal at 1.12 and by the time we get to exchange as they go globally it could be higher. right?

Originally Posted by cigarman

So Treater, if they did a internal reval we could still exchange our dinars here? I don't think so. That's what I meant about being traded on the market.

I don't know. If they raised their exchange rate, and didnt go international I would think that yes, you could exchange them here (USA) but only at a few places since there are a few places (banks) in the USA that sell, and exchange IQD (but I am sure if that was the case it would come at a heavy price). But I doubt that not going international fits anywhere into IMF's "Articles of Agreement" section 8. I would think that if they did RV they would come off their standby agreement with IMF, and play by all the rules since it's looking like having FI is what they are headed towards. Maybe the State Dept. jumped the gun a little, but everything looks like Iraq is gonna go global soon.

Originally Posted by Offshore-Wealth.com

True,

It is tough to report what we hear, but whenever and whatever we are hearing from whoever, it is the basis for what we have all been waiting for, but as we know, having all the pieces in place is only part of the picture, for timing of announcements is the hang up.

What we have been hearing is real, as we know it, but as we saw at the end of June, the decisions were made, but then they decided to test the international feedback by stating they were looking to revalue at from .68 to $3.22, which was smart. Now that we have seen no articles of resistance, I do believe that was the final signal of approval, so here we all are waiting. (g)

Of course everyone wants it to happen yesterday, but the way I look at it, I am enjoying the ride, and it will only make the destination that much better. Remember how good it felt thinking about our PIPS accounts, well, I must say, I enjoyed that ride too, but our dinar ride will have a happy ending, unlike the former. So we all learned patience, right? Hang in there folks, we are getting real close, so enjoy the ride.

Good luck to all, Mike

AND!!....All of you guys' sources/connections are saying the same thing this time!!! ( My patience is just about tapped out, by the way! )

Dang Treater, I'm from the south, can you put that in redneck terms? I know you watch comedy central.LOL

Sunni leaders change their tune over US troops

July 18, 2006
BAGHDAD: Sunni political and religious leaders who once opposed the US presence in Iraq are now calling for American troops to remain in the country to protect them against attacks by the Shi'ites.

The appeals from Sunni leaders, according to The New York Times, have grown louder in recent days after Shia militiamen shot dead groups of Sunni civilians in Baghdad.

The Sunnis also regarded the US troops as a defence against possible attacks from Iran, the newspaper said. ...

http://www.theaustralian.news.com.au...5-2703,00.html

.....VERRRRYYY NICE! Everyone's starting to play nice together.....

Originally Posted by tiffany

.....VERRRRYYY NICE! Everyone's starting to play nice together.....

Tiffany... I luv your interpetations!!! go girl... libby

According to the US State Dept. as of June 7th. it's a fully convertable currency with no restrictions.

"CURRENCY CONVERSION AND TRANSFER POLICIES

The currency of Iraq is the Dinar (ID - sometimes referred to as the New Iraqi Dinar). Iraq's current exchange system is characterized as a free foreign exchange system, with no restrictions on purchases or sales of foreign currencies. The Iraqi currency is fully convertible and can be exchanged freely with any other currency. In addition, there is free movement of capital without restrictions on capital inflows and outflows. Iraq's foreign exchange regime is also a multi-currency system in which foreign currencies circulate in the market and are accessible to everyone.

The exchange rate is generally determined on the basis of supply and demand conditions in the foreign exchange market. Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes. The Central Bank of Iraq (CBI) also can intervene, when necessary, in order to maintain stability in the foreign exchange market. In addition, there are no taxes or subsidies on purchases or sales of foreign exchange.

The Government of Iraq's monetary policy since 2003 has focused on maintaining price stability and a stable exchange rate. In addition, the Central Bank of Iraq conducts daily foreign exchange auctions to limit the impact on base money growth of the sale of the government's oil export earnings. "

http://www.state.gov/e/eb/ifd/2006/67643.htm
What is everyone's interpretation of the last line in paragraph 2 about (no taxes on purchases or sales of foreign exchange)? Am I reading this incorrectly, or is it saying there will be no tax liability if we exchange this currency to US dollars?
On another note, can someone suggest where I can buy some more dinar. I have been trying to purchase another 23M (for friends and family) from safedinar since Thursday and have been getting the run around. Still no shipment. Something to do with verification. I need help. I need one more order before this thing hits.

Thanks,

Johnny

Originally Posted by cigarman

Dang Treater, I'm from the south, can you put that in redneck terms? I know you watch comedy central.LOL

Treater: I don't know. If they raised their exchange rate, and didnt go international I would think that yes, you could exchange them here (USA) but only at a few places since there are a few places (banks) in the USA that sell, and exchange IQD (but I am sure if that was the case it would come at a heavy price). But I doubt that not going international fits anywhere into IMF's "Articles of Agreement" section 8. I would think that if they did RV they would come off their standby agreement with IMF, and play by all the rules since it's looking like having FI is what they are headed towards. Maybe the State Dept. jumped the gun a little, but everything looks like Iraq is gonna go global soon.

I'll try.

recon I dont really know. If those darn Iraqis raise up their rate of exchange for the dinar internal or not we can still make a haybail of money off the situation being that a few banks here deal in dinar. Those banks gonna charge us an arm, leg and a first born child to trade in our dinars being that the rest of the banks wont be changing em in. 'cordin to the intarnational montrey fund iraq is on a "stand by" agreement, they got all these rules that cuntrys gotta follow to be a part of the club. If iraq wants foren vestment, then they best to cept all of article 8, whatever that is. Point being, the way Iraq is headed looks like they are gonna open their doors for business with the world here soon. They do that they best to have a strong money to back it.

hows that?