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

Ok, what about this? It has been said over and over again that if foreign investors are allowed to trade in Iraq before a high enough reval that some wealthy person could buy up all of Iraq. Well, what about in Kurdistan? Is the value of the dinar the same in Kurdistan as in Iraq?

Thanks,
Monica

Jetsa.. no apologies necessary.. I really appreciate your insight ... there is so much info. to digest.. sometimes its hard to piece it together and thanks to people like you, and so many others it helps to compute it... its so easy to put so much hope on a time frame... we all want to hear it.. but yet in reality so many things can affect it, change it.. delay it... guess we should try hard to keep hoping for the best but be prepared for "detours..." ( I won't say "worse" it sounds too depressing...) Just want to say thanks to all of you who have responded and clarified what todays "investment law" means... tho its progress I guess we're still waiting for the rest of Iraq to do the same... wouldn't it be great if they surprised us all and just did it asap!!

Originally Posted by cigarman

If the parliment passed the investment law for kurdistan would they not have also passed the law for Iraq. The laws said the same thing and had the same conditions because Iraq used the law of Kurdistan as a copy to go by. This is getting real confusing. By the way still hearing August 10th to 15th for reval. Supposedly it's already a done deal, just have to announce it.

Hey Cigarman,

Wouldn't dare call you stupid! As a matter of fact, I love those last two lines! Care to reveal your sources? If you already have, mind doing it again? Just like hearing good news.

Monica

Voices of Iraq: Parliament-Recess
Posted by: nadioshka on Sunday, July 30, 2006 - 06:37 PM
Parliament-Recess
Iraqi parliament starts summer recess, back on Sept 2
By Kawthar Abdul-Amir
Baghdad, July 30, (VOI) – Iraq’s first freely-elected parliament wrapped up its first session on Sunday to start a month-long summer recess and First Deputy Speaker Khaled al-Attiya said it would resume work on September 2.
The assembly discussed a draft law allowing Iraqi and foreign private sector firms to import oil products in a second reading.
Some legislators, however, voiced concern that such a move would help raise fuel prices.
“We fear that the law on importing and selling of oil products would add new burdens on citizens through raising prices,” Hamid al-Musawi of the Unified Iraqi Coalition (UIC) told parliament.
“Will foreign companies have a free hand in setting prices of oil products? Or will there be a body that sets prices?” asked Abbas al-Baiyati of the same Shiite bloc.
The 275-seat house also postponed voting on a special law for the Higher Independent Electoral Commission for lack of quorum at the end of the meeting.
Today’s meeting also went through a first reading of a draft amendment to the penal code

Oil-Shahrestani
Iraq seeks to raise oil output, exports – minister
By Dergham Mohammed Ali
Baghdad, July 30, (VOI) – Iraq is seeking investments from oil majors to develop joint fields with Iran, Kuwait and Syria to raise output and exports, Oil Minister Hussein al-Shahrestani said on Sunday.
“The oil ministry has devised a plan to raise production to three million barrels per day (bpd) before the end of this year,” he told a news conference.
“Current production is 2.7 million bpd compared with 2.5 million two weeks ago,” Shahrestani said.
Iraq currently exports 1.650 million bpd from southern outlets in addition to 300,000 bpd to be exported from the Turkish terminal of Ceyhan within days after a northern oil pipeline from Kirkuk to Turkey is repaired, the minister said.
The pipeline was sabotaged three weeks ago.
Shahrestani said some 750,000 bpd were currently being refined at Iraqi plants for domestic use.
He said a major overhaul of one of Iraq’s refineries had been completed but he declined to give more details.
“The ministry is fighting against terrorism and sabotage. If it gets rid of terrorism, things would go much faster,” he said.

Iraq-Currency
Iraqi Cenbank sells $51 million
Baghdad, July 30, (VOI) – Demand for dollars rose sharply on Sunday to $50.930 million from about $39 million on Thursday, the Iraqi central bank said.
The bank said in its daily statement it covered all bids which were $29.50 million in cash and $21.880 million in foreign transfers, the highest figure to transfers recorded in several months.
Sami al-Haidari, owner of an exchange office, said the rise in dollar demand was due to foreign payments by traders and purchases by students in foreign universities for hard currency to pay for the new academic year.
Sixteen banks and their clients bid for dollars but made no selling offers.
The dollar rate went higher one tick to 1,477 dinars from 1,476 dinars on Thursday.

Originally Posted by Offshore-Wealth.com

Funny,

Complicated indeed, so much more so because of politics. With democracy comes the typical BS involved in all politics, the power plays, the inside power plays, etc., so hang in there, all the pieces of puzzle are finalized, but they just have to be fit together, and this is the trick. The revalue is just one of the pieces, so when that piece is put in place, all the other pieces will follow to complete this puzzle called democracy.

Good luck to all, Mike

Hi Mike... yes hanging in there is the trick...my emotion are something like.. go..stop..go.. stop..go.. stop... anyway.. Cigarmans sources are still saying
mid Aug.. barring any new unforseen little things like, bombs, war, crisis's..
are your sources saying the same? Just looking for alittle confirmation so
we can still keep hanging on...I know if it were up to you.. it would be done!

AS TO THE RV!

According to muslem sources the RV is is a done deal, should be annouced between the 10 and 13 of August 2006.... Hurry buy your dinars soon, it might be your last chance. www.A1dinar.com www.USDinar.com
www.SafeDinar.com www.NewIraqCurrency.com or dinartrade.com
This might be your last chance get them while they are cheep!

again this was on another forum!!!

Originally Posted by pipshurricane

AS TO THE RV!

According to muslem sources the RV is is a done deal, should be annouced between the 10 and 13 of August 2006.... Hurry buy your dinars soon, it might be your last chance. www.A1dinar.com www.USDinar.com
www.SafeDinar.com www.NewIraqCurrency.com or dinartrade.com
This might be your last chance get them while they are cheep!

again this was on another forum!!!

Pips...I love the sound of that! This will be my high for the day... I'm signing off til tomorrow.. I don't care if its a rumor... its a good sounding rumor!

Okay folks...What follows is just my interpretation of all of this and I do not have any sources for verification so take it for what it's worth or not worth.

Isn't the Central Bank of Iraq independent of the Iraqi government?

The Federal Reserve is "independent" of the U.S. government; the Bank of England is "independent" of the government of Great Britain; the World Bank is independent. Why would the government have to be in session for the reval to happen? Being that the CBI is independent, can't they do this when they get ready regardless of "where" all the politicians are spending their summers?

Basically, we've all been taught right here on this forum that there had to be a reval "before" the investments that the Financial Laws enable can take place. If the KRG has passed the Financial Law(s) for its region, then what cigarman says is true; the reval is already a done deal. I'm sure there should be an announcement before the KRG can give the go ahead to foreign investors buying up their region.

It still all comes down to this...We wait...

EW