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

Originally Posted by everwiser

I don't know how the rest of you read this but I take it to mean that the terrorists are having issues with "funding" if they are having to resort to robbing banks to obtain funds. Not to mention that those funds will likely have to be converted "outside" of Iraq (so they can't be traced back to the exchanger) and at a "less than ideal" exchange rate. You don't just walk into a bank in Jordan or elsewhere with "traceable" currency and attempt to exchange it. Generally, when terrorists have to resort to bank robbery and/or kidnapping and ransoms to generate operating capital, they've basically been reduced to being nuisances more than forces to be reckoned with...

EW

I am certain that the bank employees considered the "robbers" to be much more than just a "nuisance".

Robbing a bank every now and then is better than blowing up buildings...IMO anyway!

Originally Posted by cigarman

Now You did a good job with the translation. I reckon we're gonna be rich. I sorta feel like uncle Jed.LOL

LOL, yeah, I cant really see them holding out much longer.

Malki: Iraq to open investment opportunities to oil majors
Baghdad, July 18, (VOI) – Iraqi Prime Minister Nouri al-Malki on Tuesday said his cabinet was about to finalize an investment law to allow oil majors to invest in Iraq, while visiting U.S. Secretary of Energy, Samuel W. Bodman, said his country was ready to cooperate with Iraq in oil investments.
“Investments will bring progress in services, reconstruction and job opportunities to fight unemployment which will have an important role in fighting terrorism,” Malki said as he received Bodman in Baghdad.
“The most important guarantee to safeguard investments is the legislative guarantee which we are about to finalize in addition to our keenness in establishing security in the country,” a statement issued by the media office of the cabinet quoted Malki as saying.
Bodman said the United States was ready to provide support to the Iraqi people and government especially in the energy field and technical support to the oil sector and power system, the statement said.
The United States was also ready to help in expanding investment cooperation and attracting capital and training Iraqis, Bodman said.

http://www.aswataliraq.info/modules....rder=0&thold=0

Insurgents-Arrest-Update 1
Leader of al-Qaeda death squad, aides arrested in Iraq
By Kawthar Abdul-Amir and Dergham Mohammed Ali
(Adds details)
Baghdad, July 18, (VOI) – The Iraqi National Security Adviser Mowafaq al-Rubai’i on Tuesday announced the arrest of a prominent insurgent who is the leader of Failaq Omar group and four top aides in July 8.
Rubai’i said the group was one of the death squads formed by al-Qaeda in Iraq group.
He made the announcement during a news conference held at the government headquarters in Baghdad, but gave no other details.
Rubai’i also declined to reveal where they were arrested for security reasons.
One of the detained insurgents died on wounds one hour after his arrest and the other four detainees were top leaders in Failaq Omar including Abu Othman, the group leader.
“The detained insurgents were followers of the ex-regime and the information to be extracted from them would help track down the death squads that kill civilians and Iraqi security forces,” Rubai’i told reporters.
He said that Failaq Omar was one of the death squads formed by al-Qaeda group to stir sectarian violence.
“Failaq Omar is responsible for hundreds of assassinations, killings and evictions in Sadr city and it is known to recruit terrorists on the promise they will fight Iranian in Iraq,” Rubai’i said.
He disclosed that Failaq Omar claimed responsibility for a bombing attack in the mainly-Shiite Sadr city in Baghdad that killed 62 Iraqis and wounded 114.
Abu Othman admitted he was leader of Failaq Omar and that he pledged support for al-Qaeda and Abu Musaab al-Zarqawi, Rubai’i said.
In spite of the breakthrough, the National Security Adviser did not expect violence to end soon in Iraq.
“Nobody should imagine that violence against civilians would end in the coming days or weeks,” he said.
An escalating wave of violence has engulfed Iraq with daily bombings, killings and kidnappings that claim dozens of lives.


http://www.aswataliraq.info/modules....rder=0&thold=0

First Baghdad bank heist nets 1.4 billion
18/07/2006
Source: Kuna

Unknown militants dressed as Iraqi security forces robbed the Al-Rafidain Bank branch in Al-Amiriya, western Baghdad, Tuesday taking a 1.4 billion Iraqi dinars trophy.

Sources from the Iraqi Interior Ministry said the robbers fled the scene in two green pick ups and a BMW.

A search for the cars is underway, as the descriptions have been dispatched to all security checkpoints across Baghdad.

This is the first bank heist since the looting that took place at several banks including the Iraqi Central Bank upon the fall of the former Saddam Baathist regime.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1700

Originally Posted by danny51

I am certain that the bank employees considered the "robbers" to be much more than just a "nuisance".

I was speaking more figuratively towards what they (terrorists) will become. I'm sure the bank employees DID consider them more than a nuisance....

The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

An official source in the Iraqi central bank revealed that the net mass of cash in Iraq reached 6 trillions of Iraqi dinars. The size of circulating cash is 4 trillions dinars.‏
And the source said that the central bank seeks now limitation of inflation that occurred in the time of bygone regime throughout random and unstudied mechanism Of the central bank and that caused a big rise in prices level.‏

He also clarified that the bank managed the reduction of inflation level through last April and hopefully a continuous work will cause eradication of more than 20% of inflation level in order that through coming five years the Iraqi economy enjoys balanced market with active economy.‏
And he pointed that the Iraqi economy is not submitted to budget but to total local product.
The bank now is capable of reinforcement the value of the Iraqi dinar with respect to other currencies.

( Translated from Arabic )

http://www.iraqdirectory.com/files/a...article053.htm

Originally Posted by tiffany

Just throwing this out there...first thing I thought when I read this is " Oh Man! If this pegs in a week, those dirtbags will have 1.25 BILLION DOLLARS worth of dinars..." Does anyone else think that perhaps the reason for the robbery is the pending reval?

Hi Tiff,

Funny, I thought the same thing, they must also be convinced the revalue is near. (g) Then again, I do think this is a desperate move as the insurgency must be running out of money, as well as leaders, so all in all, I think it is good news.

Good luck to all, Mike

Hello all,

With this recent bank heist, do we still think this month is a good possibility? That was a lot of dough they took. Are we still hearing arount the 24th?

John