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

Investment three oil fields in Nasiriyah

(Voice of Iraq) - 12-17-2006
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Basra : «» Middle East completed the South Oil Company based in the Basra governorate (550 km) south of the Iraqi capital Asthoudaratha to invest in three oil fields in the province of Nasiriyah neighboring production capacity of 530 thousand barrels per day. An engineering company told reporters yesterday that the fields prepared for the national investment among the field of Nasiriyah card 300 thousand barrels Graves card and 120 thousand barrels Rafidain card and 110 thousand barrels per day. He pointed out that the company's plan also included investment Artawi gas field, which is the third field to invest in gas after the Rumaila and the donkey

Four committees to amend the Constitution to balance sectarian

(Voice of Iraq) - 12-17-2006
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Sadri trend that raises doubts about the ability of the Reconciliation Conference to resolve the problems ... The Baathists accuse Maliki b «repudiation of earlier pledges» ... Four committees to amend the Constitution to balance sectarian disbanding the militias, and to address the dissolved entities

Baghdad-Wahid taste leadership Salihi life-17 / 12 / 06 / /

Conference concluded political forces, which was held in Baghdad yesterday to the formation of four committees will serve as workshops «» resolve issues such as amending the constitution and sectarian balance, disbanding the militias, and others.

With reduced Sadri trend yesterday of the importance of the findings of the conference criticized the leadership Ba'athist what he described as «Maliki followed his address problems with the parliament and to wriggle out of its commitments», emphasizing the lack of commitment to any of the Baath recommendations of the Conference.

He said Fadel Al-Sharaa, political advisor to the Iraqi Prime Minister Nuri al-Maliki told «life» «conference that form four committees is a workshops». «The first workshop will work on the issues of amending the constitution and federalism, and the second is the issue of political balance (of sectarian and nationalist) in the government and the expansion of participation in the political process, while the third will address the dissolved entities (army and the security services) and will discuss four positions of foreign forces and militias».

The Chairman of the Defense and Security Commission in the parliament, Hadi Al-Ameri told «life» that «the recommendations to come out of the conference would be a recipe some executive and the other a legislative character and the third was described as a judicial». He stressed «integration of work between the three bodies for the success of the work of the committees», «called for the restructuring of the chopping commensurate with the new directions of the State».

And despite the many assurances from members of the Organizing Committee of the Conference for non-attendance figures or representatives of the armed factions, Maj. Gen. Najib Salihi President «Movement of Free Officers» «life» «that a large number of dignitaries, rescinded and the military is present in the conference hall», he said, pointing out that considerable reservations «» prevented from disclosing the names of those personalities.

And who do these Salihi said «It is difficult to know who represents them because nobody has the same name as hand», «ruled to be influential figures, but actual figures were operating within the ranks of the former Baath Party». The President and military officers Movement «» «that the army could not union represented person, because the Army ideas, and talk about the characters posed unacceptable».

The sources said that the state «» Baath Party will not participate in any new conference similar ». , "Said Abul-and Sam Jashaami (one of the leaders the Ba'thists) in a telephone conversation with the« life »:« We have waited the announcement by Prime Minister his pledge made to everyone audited the the laws of previously we presented our opinion where, deforestation the Baath and the settlement of the resolutions of the Governor former American Paul Bremer issued in the 5-24-2003, solution where a number of ministries and departments », considering claim Al-Maliki the Chamber of Deputies to review such issues« disclaimer from a previous agreement with the leaders of Ba'thists, provides for the use of his powers in as the government of and the lifting of the decisions and recommendations of to the Chamber of Deputies to decide on it does not demand that Parliament take this step ».

He added that «Jashaami Baath Party considered in the House is not meant for, as well as those who attended in their personal capacity as representatives from the indirect (...) Which is not authorized anyone, whether individuals or parties or political movements represented in the Conference or speak on his behalf or negotiate on his behalf with any ».

He reported that the Baath Party in the «solution of any commitments made before the reconciliation with whom he spoke outside Iraq», concluded by saying : «We consider the conference and what was the pretext of attempts reconciliation is an attempt to prolong the current government».

It reduced the Attorney peace Maliki (mass chest) of the importance of the conference and its success in making the changes required in the current situation. He told «life» «that the Iraqi forces, which are still under the influence of regional and international circumstances surrounding could not get rid of the transactions». He added that «these circumstances everyone knows, including the Prime Minister, but it was demanding the convening of the regional and international support for the political process and strengthening the elements of reconciliation». He criticized Maliki «parties launched the words floating and ambiguous terminology in attempts to open the door to the participation of criminals and Baathists Altkverein». He reiterated the principled position «» of «trend Sadri is that the dialogue with them (the Baathists and Altkverein) a red line that should not be overstepped».

He Ahmad Chalabi, the leader of the «Iraqi National Congress» expressed hope that «leave the decisions and recommendations ease tensions in the crisis situation», he told «life» : «I can not say that the Iraqi consensus, but a gathering of parties were until recently far from each other and need to push in them and reconciliation to heal the rift in Alaglatha». He added : «We should not measure the results of this conference numbers, as we do not expect the results to be reflected immediately and directly on the scene», «warned of the dangers of the use of force» in addressing the issue of militias, and said : «that the use of force might be, tents, makes matters worse».

The deputy behalf Sharif, a prominent figure in the «Islamic Virtue Party» told the «life» that his party put forward a project «could offer solutions to help contain most of the crises facing the country», explaining that «this project includes three axes : the first is the expansion of political participation in the Parliament by adding 13 seats on the basis of paragraph constitutional provisions on the allocation of seats for each hundred thousand Iraqis, to give these seats to the actors in the arena outside the political process. The second axis is to expand government involvement through the introduction of the non-participating districts and integrity control and inspection will ensure a strict censorship of the government and the youths at the same time, these groups feel marginalized. The third axis stipulates the dismantling of the political blocs built on a sectarian basis, and replace with blocks formed in accordance with the political programs similar ».

Sights tend to parties powers' conference

Baghdad, Dec. 16, P. 1 Sights tend to the parties and political powers' conference which hold in Baghdad and continues till Sunday under the slogan of (Iraqi political powers would continuo as support and guaranty to success political process, reconciliation and accord).While politicians showed cautious optimism, they concerned about new political initiatives would raise by Prime Minister Noori Maliki at the conference as spokesman of Government Dr. Ali Dabbagh said at a press conference.Those politicians think that Maliki's initiatives would focus on some of unresolved cases and object of controversy among parties in Iraq as general amnesty, Debathification, previous army and balancing of security authorities.

ÌÑíÏÉ ÇáÕÈÇÍ - Sights tend to parties powers' conference

Could you post a link to this article?

Originally Posted by Socata 850

OPEC Abandons U.S. Dollar

Oil-producing countries have reduced their dollar holdings to the lowest level in two years and shifted oil income into other currencies, according to the Bank for International Settlements.

Members of the Organization of Petroleum Exporting Countries and Russia reduced their dollar holdings from 67 percent in the first quarter to 65 percent in the second quarter.

At the same time, they increased their holdings of euros from 20 percent to 22 percent, the BIS said. They also boosted holdings of the yen and British pound.

Eighteen months ago, the oil-producing countries’ exposure to the dollar was above 70 percent.

"The revelation in the latest BIS quarterly review . . . confirms market speculation about a move out of dollars and could put new pressure on the ailing U.S. currency," the Financial Times reports.

The BIS, the central bank for the developed world’s central banks, disclosed that OPEC’s dollar deposits fell by $5.3 billion, while euro and yen-denominated deposits rose $2.8 billion and $3.8 billion, respectively.

The last time oil-exporting countries reduced their exposure to the dollar — in

late 2003 — it pushed the euro to an all-time high against the dollar.

The BIS noted: "While the data are not comprehensive, they do appear to indicate a modest shift over the quarter in the U.S. dollar share of reporting banks’ liabilities to oil exporting countries."

According to the Times, "the dollar has suffered weakness because of concerns about global imbalances and the future course of the Federal Reserve’s interest rate policy."


I've posted before that the US dollar might not be the only curency that we eventually should change some of our dinars into. As a RolClub family, we really need to keep an eye on this. I would hate to lose a huge portion of the value of my converted dinars if the dollar goes south in a hurry.

By KIM GAMEL, Associated Press Writer
1 hour, 2 minutes ago



BAGHDAD, Iraq - Iraq's prime minister reached out to Sunni Arabs at a national reconciliation conference on Saturday, urging Saddam Hussein-era officers to join the new army and a review of the ban against members of the former dictator's ruling party.

But key players on both ends of the Sunni-Shiite divide skipped the meeting, raising doubt that the conference will succeed in healing the country's wounds.

"We firmly believe that national reconciliation is the only guaranteed path toward security, stability and prosperity. The alternative, God forbid, is death and destruction and the loss of Iraq," Prime Minister Nouri al-Maliki said in his opening remarks.

The long-awaited gathering was touted by the Iraqi government and the White House as a chance to rally ethnic, religious and political groups around a common strategy for ending the country's violence.

At least 23 people were killed Saturday in Iraq, including a Sunni cleric and a Sunni politician who were shot to death in Iskandariyah, south of Baghdad. Police also found the bodies of 53 men who had been bound and blindfolded before they were shot to death in Baghdad — apparently the latest victims of sectarian death squads.

Iraq's politicians, however, have been unable to come together and the Shiite prime minister faces growing dissent by his coalition partners, including Shiite allies like radical cleric Muqtada al-Sadr.

Al-Sadr's bloc said it was boycotting the two-day meeting, as did two major Sunni groups and former Prime Minister Ayad Allawi, a secular Shiite.

"There is no point in holding these conferences ... because the situation is getting worse," said al-Sadr's spokesman, Firas al-Mitairi.

Al-Sadr's absence came amid recent reports that efforts by some rival lawmakers are under way to sideline the anti-U.S. cleric, whose Mahdi Army militia has been blamed for some of the worst sectarian violence.

Hours before the conference, Iraqi and U.S. forces detained six suspects in a raid and an airstrike in the al-Sadr stronghold of Sadr City in eastern Baghdad. The raid left one fighter dead and another wounded, the U.S. military said.

The prime minister addressed the problem of militias in his speech, reiterating that they should be disbanded, but he did not offer any new ideas about how to do so.

"There must be a solution to this problem and the militias must be disbanded and integrated into various state institutions," he said.

Al-Maliki also said Iraq has been able to overcome many of the outstanding problems with its neighbors, including U.S. rivals Syria and Iran.

He added that Iraq would send delegations to the neighboring countries in coming days and could call for a regional conference.

"We refuse to allow Iraq to become a battlefield for regional and international conflicts," he added.

The White House said al-Maliki's remarks showed a commitment to bringing militias and insurgents under control and halting the violence.

"He is clearly in favor of forming an Iraq based on national unity and not individual sects. He repeated his desire for Iraq's neighbors to play a constructive role in rebuilding the country," said Gordon Johndroe, spokesman for President Bush's National Security Council. "The United States urges the parties to the national reconciliation conference to chart a course that brings stability and security to a unified and democratic Iraq."

Al-Maliki also reached out to the army officers and soldiers who lost their jobs after the U.S.-led invasion that ousted Saddam nearly four years ago.

"The new Iraqi army has opened its doors for members of the former army, officers and soldiers, and the national unity government is prepared to absorb those who have the desire to serve the nation," al-Maliki said.

He said the government needed "their energies, expertise and skills in order to complete the building of our armed forces."

He imposed few conditions on the return of former military personnel, only cautioning that those allowed to serve in the new army should be loyal to the country and conduct themselves professionally.

He also said the size of the army might limit the number accepted but those unable to join would be given pensions.

Two aides to al-Maliki, speaking on condition of anonymity because they are not authorized to disclose information to the media, said Saddam-era officers could apply to be reinstated regardless of their rank. But they said admission would depend on their professional and physical suitability for service as well as the extent of their links to the Baath Party.

The government had previously invited former officers up to the rank of major to join the new army. The outreach and pension offer were apparent concessions to a long-standing demand by Sunni Arab politicians who argue that the neglect of former army soldiers was spreading discontent and pushing them into the arms of the insurgency.

L. Paul Bremer, Iraq's former U.S. governor, dissolved Iraq's 400,000-strong army soon after American forces overthrew Saddam's regime in April 2003. The decision is widely seen as a mistake because it drove many into opposition.

Al-Maliki also called on parliament to review the "de-Baathification" clauses in the constitution adopted last year to ensure what he called the rights of the families of those sacked from government jobs for their membership in the party.

___

Associated Press writer Qassim Abdul-Zahra in Baghdad contributed to this report.

Originally Posted by Socata 850

Greenspan: More Dollar Weakness Ahead

The U.S. dollar will stay weak for the next few years, according to former Federal Reserve Chairman Alan Greenspan. Greenspan blames the U.S. balance of payments deficit for the prolonged frailty of the dollar.

“I expect that the dollar will continue to drift downwards until there will be a change in the U.S. balance of payments,” remarked Greenspan, who spoke via video-link to a business conference in Tel Aviv.

“There has been some evidence that Organization of Petroleum Exporting Countries nations are beginning to switch their reserves out of dollars and into euro and yen,” continued Greenspan.

MoneyNews told readers yesterday that the Bank for International Settlements, which is known as the “central banks’ central bank,” reported a decline in U.S. dollar reserves in OPEC countries as well as oil exporter Russia.

“It is imprudent to hold everything in one currency,” advised Greenspan, who sounded like he was talking down the dollar. In fact, Greenspan added that at some point the dollar would decline in value.

"That [a falling dollar] will be the experience of the next few years," Greenspan said.

Again, just more evidence that we need to keep our senses about us in the short term future. If Opec accelerates it's conversion out of dollars, things could get dicey in a hurry.

Could a high reval be the answer to the part in red? Seems so to me. Any comments?

Originally Posted by billknows

So maybe you can just feel the attitude coming from Moneybags in every post. Never a hint of doubt - never a moment of genuine uncertainty - never a trace of concern that maybe he's just walked right over your best contributions without so much as a glance - so maybe he isn't the sort of person you could just sit down and have a friendly conversation and a beer with - we've all met these types before, right?

Well, let me just say this - i have absolutely no doubt that when we get real close to a reval, Munnybags will be right there - in all his brainiac glory - encouraging all of us, cheering us along, using his logical formulations to shed a bright light on the path that will lead to us all becoming millionaires!

Go Munnybags!

Can someone please let Bill know that munny hacked his account?

Well, all I can say is interesting ( sorry Mike ). First, we have China stating today that they will sale off 1 trillion USD from their reserves Monday. Then later today an article came out saying that OPEC countries would buy it and even threatened China by cutting oil sales to them IF the USA would quit being alies with Isreal. Sounds like to me this is all a ploy to get the USA to quit being alies with Isreal. You know, if you haven't read the book of revalations in the Bible, you need to do so. OK, it's getting deep, I'll stop with that. Let's all sleep well and hope tonight is the night.

What is the United States Dollar (USD)?
RESOURCES



The United States dollar, denoted by USD or the symbol $, is the official currency used in the United States. Commonly referred to as the "American dollar," the currency is divided into 100 cents (symbol ¢). A further division includes 1,000 mills to a dollar, though this division is largely unknown to the general public and only sometimes used in matters of tax levies.

When currently issued in circulating form, denominations equal to or less than a dollar are emitted as U.S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. (Both one-dollar coins and notes are produced today, although the note form is significantly more common.) In the past, paper money was occasionally issued in denominations less than a dollar and gold coins were issued for circulation up to the value of twenty dollars.

The United States Mint is in charge of producing the nation's coins, while the Bureau of Engraving has printed banknotes and Printing for the Federal Reserve since 1914. Note size used to be very large but switched over to a smaller size in 1928; reasons for this switch, however, are unknown.

The dollar is considered the standard unit of currency in commodity markets across the globe (namely gold and oil). At the present time, the U.S. dollar remains the world's foremost reserve currency, primarily held in $100 denominations. The majority of U.S. notes are actually held outside the United States. According to economist Paul Samuelson, the overseas demand for dollars allows the United States to maintain persistent trade deficits without causing the value of the currency to depreciate and the flow of trade to readjust. In 1995, over $380 billion (380 G$) in U.S. currency was in circulation, two-thirds of it overseas. As of April 2004, nearly $700 billion was in circulation, with an estimated half to two-thirds of it still being held overseas.

Usage
A few nations besides the United States use the U.S. dollar as their official currency. Ecuador, El Salvador and East Timor all adopted the currency independently; former members of the US-administered Trust Territory of the Pacific Islands (namely Palau, the Federated States of Micronesia and the Marshall Islands) decided that, despite their independence, they wanted to keep the U.S. dollar as their official currency. Additionally, local currencies of several states such as Bermuda, the Bahamas, Panama and a few other states can be freely exchanged at a 1:1 ratio for the U.S. dollar. Finally, a number of nations have tied their currencies to the U.S. dollar - including Argentina (1:1 fixed exchange rate from 1991 until 2002), Lebanon (one dollar = 1500 Lebanese pound), Hong Kong (one U.S. dollar = HK$ 7.8 since 1983), and several more. A significant recent development is the action of the People's Republic of China: the renminbi had once been informally and controversially pegged to the dollar (since the mid-1990s, at 1 U.S. dollar = 8.28 Y); however the peg was removed on July 21, 2005. Instead, China has a managed float against a basket of currencies.


Sovereign credit ratings play an important part in determining a country's access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.

United States Dollar and US currency information including currency exchange rates

Originally Posted by cigarman

Well, all I can say is interesting ( sorry Mike ). First, we have China stating today that they will sale off 1 trillion USD from their reserves Monday. Then later today an article came out saying that OPEC countries would buy it and even threatened China by cutting oil sales to them IF the USA would quit being alies with Isreal. Sounds like to me this is all a ploy to get the USA to quit being alies with Isreal. You know, if you haven't read the book of revalations in the Bible, you need to do so. OK, it's getting deep, I'll stop with that. Let's all sleep well and hope tonight is the night.

China's dropping the dollar for the dinar? Who said this?

See, this is how rumors can start. Would be nice. Yen they can.