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

Sounds like the International I.D.I.O.T. Forum from what I've been hearing.

Sorry guys I had to.

Barclays boss sells shares, BofA bid talk persists - Yahoo! News

Barclays boss sells shares, BofA bid talk persists By Steve Slater
1 hour, 17 minutes ago



LONDON (Reuters) - Shares in Barclays Plc (BARC.L) raced to a new high as speculation mounted that Bank of America Corp. (NYSE:BAC - news) could bid for the UK bank, even though a sale of shares by Barclays' outgoing chairman signaled no approach had been made.

Barclays Chairman Matt Barrett said on Friday he exercised share options and sold 2.3 million shares the day before, netting 6.5 million pounds. He would not be able to do so if an approach had been made, and analysts said the move also indicated he thought a bid was unlikely.

But investors shrugged off the transaction after a leading broker said there was strong merit to a takeover.

"We believe Bank of America is very interested in acquiring Barclays," Merrill Lynch said in a research note.

Both Barclays and Bank of America declined to comment.

Barclays shares closed 3.3 percent higher at 730 pence, after hitting a new high of 741p, valuing the bank at 48 billion pounds ($94 billion). The shares have jumped 6 percent in the last two days.

Bank of America shares were down about 1.6 percent at $51.65 in late trading on the New York Stock Exchange.

Dealers said the rally in Barclays stock gathered momentum from U.S. investors during afternoon trading in London.

"There is enough money out there in terms of borrowing capacity for any company to buy any other company in the world," said John Orrico, portfolio manager at the Arbitrage Fund in New York.

The price move was backed up by heavy volume, with more than 108 million shares traded, almost four times the daily average.

"What we think we know is Bank of America approached the group (Barclays) in a past life about a deal," said Simon Maughan, analyst at Blue Oak Capital. "There were strong rumors they were about to execute it but a domestic deal came up and they did that instead.

"Back comes the suitor again is the story," he added.

But Maughan said the sale of shares by Barrett and U.S. regulations that would require Bank of America to recapitalize Barclays' balance sheet -- potentially at a cost of $40 billion -- made a deal unlikely. "It doesn't prevent a deal, it just makes it unlikely," he said.

BANK OF AMERICA INTEREST?

Bank of America Chief Executive Kenneth Lewis has said Europe may offer the best value for growth outside the United States, but he has also been reported as saying he was not planning any more takeovers and declined to comment on rumors that Barclays was a target.

Merrill said in its research note that buying Barclays would help Bank of America, the world's second-biggest bank by market capitalization, achieve its goal to become a leading global commercial and investment bank.

Barclays would give Bank of America a large international presence in fixed income-oriented investment banking, the leading UK credit card business to merge with its own British cards unit, a big UK retail and commercial bank with opportunities for efficiency improvement, and the leading global indexed asset-management and exchange-traded funds business, the note said.

Barclays shares trade at about 10 times next year's expected earnings, compared with about 11 times for the European sector, according to Reuters data.

Merrill estimated Bank of America "could pay a 25-30 percent premium for Barclays and still make the deal modestly cash EPS accretive after merger synergies are fully achieved."

Analysts said Barclays and other banks had also been helped by bullish comments this week from Royal Bank of Scotland Plc (RBS.L), which said it should beat 2006 earnings expectations.

Barrett leaves Barclays at the end of this year after seven years at the helm, first as CEO and as chairman since 2004. His stock sale left him with 2,000 shares, but he also has options on another 1.6 million and the potential for another 268,000.

He is being replaced by Marcus Agius, a veteran investment banker. Agius's appointment in August stoked speculation that Barclays may be a takeover target, as he made his name working on a string of multimillion-pound M&A deals.

($1=.5099 Pound)

(Additional reporting by Mark McSherry in New York)

MERGE BABY MERGE!!!

Heres an article with a TERRIBLE translation...wish I knew what they were saying!

For people : Dinar and the dollar and the citizen

Mohamed Alwan

After the fall of the Principles and to change the currency in Iraq, implemented workshops mafias specialized financial affairs, and one of the most serious workshops conspiring to Iraqi economic system. Have been smuggling hundreds of millions of new Iraqi dinars, in order to make a profit at a disadvantage another, to influence the size of the money supply in circulation (internally) in the market in order to raise the rate of the Iraqi dinar is artificially, and pumping funds smuggled to inflate the size of the money supply in the market, and artificially based on speculation and not on the actors and economic activities, and thereby influence the prices of goods and commodities such as foodstuffs,

And the fight against the citizen in confusing the Program of his life everyday living, for multiple purposes including fuller the forefront of greed, and political purpose multimodal colors and which owns of its proponents the experience of more than thirty five years in the ways the impoverishment of the Iraqis and starving the and depriving them of Thus we are witnessing today the websites that numerous Founded in the neighboring States, and in the States of foreign relatively more, although no longer in the world far and near in this age, there is no distinction exposure millions of the Iraqi dinars for sale via the Internet through the mediation the bags of specific agreed, and with it, and the intent of achieving profit through utilization of the ASKS compared to the the dollar, or the intent of affecting the liquidity volume in circulation on the market, to confound the balance of prices anew and the activation of further of confusion in life everyday living for the citizens. Here we must not ignore the purposes of political and economic sabotage of this process, but warn the social role in the fight as a criminal phenomenon, the official role of government and the unity of enough and talk about what directly affects the lives of citizens, not limited to the discussion of the realities of municipal services, and political activity and economic sector, and it also includes other aspects of this multi-and exceed also traded places.

Translated version of http://www.uruklink.net/

Any thoughts? Can anyone speak gibberish?

Cheers!
DayDream

Originally Posted by Elfwizard

Ok you made this up?

Hey elfwizard

No I did not make it up. I remember specifically reading in a document somewhere. But this has been gone over before here in this forum.
I cant say ALL countries but some countries have an agreement that they will hold onto their dinar for 5 years. Anyone remember where this came from? Thanks!

With the RV being talked about on the 15th how can that be when its our friday and their Saturday???

Originally Posted by danny51

So clarify something for me please...were you referring to the poster "Precocious" as a wanker...or...did you sign your post referring to yourself as wanker? Inquiring minds want to know!! Preferrably the latter as it is against the TOS to call people degrading names.

The way I read it he is calling Dave the Wanker.......


Here is a cool link for you Hummer lovers....

http://www.h2southtexas.com/events/0...den_aug_03.wmv

Originally Posted by Pippyman

Hey elfwizard

No I did not make it up. I remember specifically reading in a document somewhere. But this has been gone over before here in this forum.
I cant say ALL countries but some countries have an agreement that they will hold onto their dinar for 5 years. Anyone remember where this came from? Thanks!

Yep! I remember reading that too. I think the article was around the time they were making a big push for debt reduction. It said that many countries where buying large quanities of Dinar and agreeing to hold them for 5 years. There was quit a bit of discussion about countries NOT reducing debt without some kind of benefit. The benefit would be that 5 years from now the dinar would be worth way more than the debt...that was the general jest. Maybe neno will know how to find it on the history channel.

Originally Posted by Pippyman

Hey elfwizard

No I did not make it up. I remember specifically reading in a document somewhere. But this has been gone over before here in this forum.
I cant say ALL countries but some countries have an agreement that they will hold onto their dinar for 5 years. Anyone remember where this came from? Thanks!

.

Yes I remember reading something about this, bu of course I have no idea as to where it originated. Makes sense though as most countries will be willing to agree to some restrictions to a country sitting on that much oil. Maybe get a break on the price?? I duno....Just thinking here.

Friday, December 8, 2006

1 Iraqi Dinar = 0.0007330 US Dollar
1 US Dollar (USD) = 1364.31 Iraqi Dinar (IQD)

Learn about the new Iraqi Dinar
Median price = 0.0006735 / 0.0007330 (bid/ask)
Minimum price = 0.0006731 / 0.0007324
Maximum price = 0.0006736 / 0.0007331

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Originally Posted by Cyberkhan

Iraqis, U.S. dispute deadly raid in new friction - Yahoo! News

Iraqiya state television on Friday said Iraq would hold a national reconciliation conference on December 16. It gave no details and it was not clear if Sunni Arab militant groups who oppose the political process would take part.

Well , given that the NID will be worth QUITE a bit more on the 14th, maybe everyone will be too busy going shopping to attend that reconciliation meeting on the 16th. They can just shake hands while they wait in line for their new HDTV's! There, conference over!