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

Originally Posted by sporter

Sorry Folks its May 07' now for a revalue.

Hello sporter,

This might be true for a Peg. But I believe not for a revalue. IMHO

All have their own Opinion. But to many facts here on this forum coming out to indicate that. I will go with a Peg by then thow.

Originally Posted by jsfletcher

Hey Mike,
Scratch my last question. I called Chase bank in Denver CO, and YES they will exchange Dinar. I was very specific about which Dinar, and as expected if I wanted to buy Dinar I would have to order it. I think almost everyone has a Chase bank near enough to drive to, so I think the question of where to cash in has been fully answered. This news even caught my wifes ear who is agruably the worlds biggest skeptic.

John

If I remember right, it has been said and posted from a article that Banks will be generating a compitetion for your dinars soon. Soons as if it has already started.

Originally Posted by neno

Why would anyone want to exchange now? I see why Chase is ready to exchange or even exchanging now as Mike says. I will call them tomorrow. Common sense. Dont let these Banks trick you into exchanging now. They will be Captialising enough.

Does anyone know what rate of exchange Chase is offering.. I made a purchase thru Calif Bank & Trust who ordered it from B of A.. both said they would exchange when the time came ... so being it means more US banks are gearing up ..I wish one of them would up the value to just tempt us to sell off..

Originally Posted by ezcash

Does anyone know what rate of exchange Chase is offering.. I made a purchase thru Calif Bank & Trust who ordered it from B of A.. both said they would exchange when the time came ... so being it means more US banks are gearing up ..I wish one of them would up the value to just tempt us to sell off..

They will not up the value until it is revalued. And as more Banks come into the exchange mode they will exchange for what the exchange rate is. the have too. Also if you have a account at the bank you exchange at, there will be "NO" exchange fee. They may wave fees for anyone anyhow in the beginning. They know that at first they will get at the dinar's a value that will increase and increase until it pegs. They will actually hold on to their exchanges from people until they have to convert to the Federal Reserve are the World bank. Or where ever they convert at, from depleting their own reserve.

That Is My Thought Also!!! Too Much Happening Now For It To Be Delayed That Long Except Like You Said It's Probably The Peg. Thank Goodness. Thanks Neno
Lisa

Originally Posted by pipshurricane

AWESOME

(Voice of Iraq) - 31-08-2006 | This issue was sent to a friend

Baghdad / commoners hailed
The House of Representatives is due to convene next Sunday Junior Legislative Chapter II, which will continue for four months to discuss the legislation and many of the issues and draft laws.Which is Dec 31, 06....Or is that Sept 31 06 ????
A source in the briefing to the Council yesterday was supposed to the first meeting of the new chapter Friday, but was postponed to Sunday, the fact that on Friday and Saturday an official holiday as the Parliamentary Service will inform the members of the Council.
He said Wael Abdel Latif, a member of the Council on the Iraqi List that the Council will discuss and approve a number of draft laws, foremost of the federal budget bill, the Investment Law. Law and the private sector to import oil products.
He added Abdul Latif told that the (long) before the parliament in its new legislative many of the important projects, which must find their way into legislation, He pointed out that among the projects the federal budget bill for Iraq, which must be approximately by the House of Representatives before the end of this year, which would require more than a month of discussion within the Council and must be based on international standards for the purpose of working in cooperation with the United Nations and the World Bank.

Sotaliraq.com

I see it, and it looks Great. "ph" have we determend that their Fisal Budget Year is like the US. I Must of missed that. If so then the date should be by the end of Sept 06. And not Dec. 06 That would mean Wow!!!!

Thanks Neno... then it will be win win for the banks and us during the rv window before it pegs... This brings us back to cash out what will hold us over and make us comfortable til the peg .. hopefully at a higher level... however can't help but be a bit nervous about the whole middle east lack of stablity and the thought of "a bird in the hand.. is better than 2-3 in the bush" has been running around in my head.. just wish it would rv and we really had that decision to deal with

BAGHDAD (Reuters) -- Iraq's government is considering an expansive budget for next year to stimulate its ravaged economy in a finance bill that should go to parliament by the end of next month, a senior government official said.

Deputy Prime Minister Barham Salih, who oversees economic affairs, told Reuters he and others were pushing for a less cautious view of revenues than those projected by the Finance Ministry and said capacity for spending was improving after a hiatus during the lengthy formation of the government this year.

"The Finance Ministry is erring on the side of caution in terms of budget revenue projections," he said late on Saturday.

"There are those of us in cabinet, including myself, who believe that the projections are too conservative. Iraq needs a budget that should be more ambitious and we need to stimulate the economy by providing the funds necessary for investment in key areas of services and infrastructure. "I expect that this budget will be crucial to Iraq and should demonstrate to the Iraqi public and to the international community the seriousness of the government of Iraq to utilize effectively the resources available to us."
Fostering economic growth at a time when unemployment is calculated at 50 percent and inflation has accelerated to 70 percent presents a major challenge for the government, but Salih said economic development was a vital component of efforts to stabilize Iraq and reduce frictions among various communities.

He said a final budget would probably take longer than a couple of weeks but that the government was conscious of its constitutional obligation to present a bill to parliament by the end of September.

Despite sabotage and crumbling infrastructure capacity, Iraq's revenues have been increasing as oil exports grow and oil prices rise, making expenditure rather than income the main problem for the government in carrying out its budget plans.

Salih said the lack of a functioning government for the first five months of this year following December's election had been the main difficulty and spending was now picking up -- though he declined to say how much of budgeted 2006 expenditure had now been implemented.

"We are working hard at developing capacity, certainly at local levels, for the implementation of budget programs," he said.

"Budget execution was significantly short of where we hoped it would be but that was in large measure because the government formation took longer than expected.

"But over the last month or so we have seen an increased level of expenditure," he added, citing as an example that the regional development fund had now spent 40 percent of its annual budget, compared to just 10 percent a month ago.
Salih said the government was intent on trying to help the poorest Iraqis survive the sharp increases in the cost of living while staying within its obligations under a standby agreement with the International Monetary Fund, under which it is obliged gradually to reduce huge subsidies on fuel prices.
"Obviously much of the inflationary pressure is coming from rising fuel prices," he said. "There are serious plans under consideration to help certainly the poor segments of society to deal with these inflationary pressures.
-----------------------------------------------------------------------
Found on link:
Description of Selected News


Regards

Marek

I am telling you....Deputy Prime Minister Barham Salih...This dude is on a path and knows what needs to be done. "ph" introduced him yesterday and he just doesn't stop. I wonder if he will be the successor?

Originally Posted by neno

I am telling you....Deputy Prime Minister Barham Salih...This dude is on a path and knows what needs to be done. "ph" introduced him yesterday and he just doesn't stop. I wonder if he will be the successor?

More info on him:

Barham Ahmad Salih (born 1960) is an Iraqi politician who was elected to the Iraqi National Assembly in December 2005 as part of the Kurdistani Alliance list.

After leaving Iraq in 1979 he received a BSc in civil and structural engineering at Cardiff University and a MSc in statistics and computer modelling at Liverpool University. While working as an engineering consultant, he served as spokesman for the Patriotic Union of Kurdistan (PUK) in London and later in Washington.