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

Concerning the taxes / RV-----It is when you put the money in your account
(take possession) not when it R / V s. Then capital gains comes in to play
on how long have you owned the asset (dinar). I bought a small amount over
2 years ago and the rest several times this year. Capital gains is due on
profits over 200. In fact, there are six additional long-term capital-gains rates; the rates go from 8 percent to 28 percent. Which category applies in any case depends on the seller's income-tax bracket, the type of asset you sold, and how long the seller held it.

After reading through the entire thread I am surprised that no one mentioned the one thing that really caught my eye(other than the 11 dinar increase!)

Number of banks 12 -----
Auction price selling dinar / US $ 1400 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 24.930.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 24.930.000 -----
Total offers for selling (US $) ------ -----


One would imagine that with such a large increase in value banks would be scrambling to trade their dinar for dollars and make a substantial profit(versus recent auctions). It appears to me that the confidence in the dinar(and the improving exchange rate) is very strong at this point and it will only be more difficult to pull dinar from circulation through the daily auctions. In my opinion the CBI will now need to substantially increase the value, more often, in order to continue the plan of reducing inflation. I believe we are starting to see supply and demand take effect in regards to the dinar, and the CBI will have a hard time maintaining as strong of a monetary policy as we have seen in the past.

Here is an updated version of Adster's spreadsheet including info through today.
Thanks again to Adster for providing this.

Originally Posted by lndmn_01

After reading through the entire thread I am surprised that no one mentioned the one thing that really caught my eye(other than the 11 dinar increase!)

Number of banks 12 -----
Auction price selling dinar / US $ 1400 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 24.930.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 24.930.000 -----
Total offers for selling (US $) ------ -----


One would imagine that with such a large increase in value banks would be scrambling to trade their dinar for dollars and make a substantial profit(versus recent auctions). It appears to me that the confidence in the dinar(and the improving exchange rate) is very strong at this point and it will only be more difficult to pull dinar from circulation through the daily auctions. In my opinion the CBI will now need to substantially increase the value, more often, in order to continue the plan of reducing inflation. I believe we are starting to see supply and demand take effect in regards to the dinar, and the CBI will have a hard time maintaining as strong of a monetary policy as we have seen in the past.

This is why. Socata 850 covers it.

Originally Posted by Socata 850

Number of banks 12 -----
Auction price selling dinar / US $ 1400 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 24.930.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 24.930.000 -----
Total offers for selling (US $) ------ --


Goooooooooooooood Morning RolClub !!


Wow, 11 points on this auction. But the amazing thing is the amount of dollars at the auction. If this 11 point drop had taken place just a few weeks ago, I would imagine the total volume would have been closer to 100 million or better. There was a post earlier that a GI in Iraq was having trouble getting even 1000 dinars for the dollar. I think this validates that info in that the CBI is drying up the supply pretty rapidly. We have broken the 5% mark on the increase in the value of the dinar since the CBI initiated its reval plan. Maybe IT will come before Christmas, who knows !!


1. The dinar to the dollar is down 11 more points today from 1411 to 1400

2. Another $24,930,000 (net) worth of dinars, (IQD 34,902,000,000) out of circulation

3. 12 banks participating.

4. 45th auction since the beginning of CBI's reval plan

5. 78 days into the CBI's reval plan.

6. 2,785,701,227,000 dinars pulled from circulation !!

7. No Dinars back into circulation today

8. 77 dinar change since Nov 1st (baseline was 1477) 5.213% increase in value of the dinar since beginning of reval plan
__________________
http://www.controller.com/listings/f...73126A3BA06591

http://www.controller.com/listings/f...73126A3BA06591

Originally Posted by Mike5200

This amount of 10000 dinars has not been given out yet and I doubt the Iraqi people would accept such an amount which represents a few dollars as one would accept a much greater amount as we hold the second largest oil reserve in the world and we are one of the richest countries in the region. Â We hope everyday the peace, stability and prosperity will flourish this country and that the Iraqi people get rewarded accordingly for all the hardship endured.

I think this is HUGE!! In a round-about way he's hinting it will come after a reval.He isn't saying that its not going to happen.Looks like 2007 then-just days away!!

Interesting,

Imagine that, the Iraqi's will piss on the 10K dinar. Gee, wonder what they would say at $6,600. when it is released. (g)

Happy Holiday Season to all, Mike

is there any date about the 10k give out?

Originally Posted by Drjansson

is there any date about the 10k give out?

Not a definitive date yet. Speculation is that they keep pushing it back until 10k is actually worth something.

Originally Posted by Drjansson

is there any date about the 10k give out?

The date has come and gone along time ago. So I'd say no, theres no verifyable date for the 10k hand-out. It would be exciting if we knew, for most, me included believe its tied to the RV announcment.

Gloribee

Originally Posted by Wm.Knowles

I think you might be right. Buying more and more is exactly what you would expect after this kind of a signal. Soon, this week I think, we'll see at least 15 dinar increases in the value of the dinar per auction. At that rate we will have our 1 to 1 RV party this summer. International banks, corporations and high net worth individuals will begin to take notice and currency speculators around the world will increase demand. Just what we want. Again market psychology will begin to exert its power. So this week will be interesting to determine our short term trend. Everyone enjoy the ride, you are a part of history and it is exciting to watch the drama unfold. Thank you.

I have a question concerning this. If they just dribble, spurt out the increases until this summer (reaching parity 1/1), 1/2 of their fiscal year will be gone causing a possible problem with gettin all of their projects completed. I don't know what the turn around point is where they get a handle on inflation but it could be a couple/three months or more into 2007 or even longer. Can they really afford to wait this long? I hope not. But this is Iraq we are dealing with.

I guess time will tell but the longer they wait, the greater the risk of something going terribly wrong deraling their plans altogether. That added to the fact it will allow the big players months to get involved in buying up any and all liquid dinar that might be available, the big countries/international corporations will have months to solidify their holdings in the Iraqi stock market as well as buying into the local economies. Also the large petro countries like Iran will be able to get in there and work their mischief in and among the financial institutions (banks) and have better access to their planted insurgents in Iraq. All in all it could be a receipe for disaster. IMO Any comments?

worf

Originally Posted by worf

I have a question concerning this. If they just dribble, spurt out the increases until this summer (reaching parity 1/1), 1/2 of their fiscal year will be gone causing a possible problem with gettin all of their projects completed. I don't know what the turn around point is where they get a handle on inflation but it could be a couple/three months or more into 2007 or even longer. Can they really afford to wait this long? I hope not. But this is Iraq we are dealing with.

I guess time will tell but the longer they wait, the greater the risk of something going terribly wrong deraling their plans altogether. That added to the fact it will allow the big players months to get involved in buying up any and all liquid dinar that might be available, the big countries/international corporations will have months to solidify their holdings in the Iraqi stock market as well as buying into the local economies. Also the large petro countries like Iran will be able to get in there and work their mischief in and among the financial institutions (banks) and have better access to their planted insurgents in Iraq. All in all it could be a receipe for disaster. IMO Any comments?

worf

I thought we had pretty much figured with the size and scope of all the projects they have lined up for 2007 that they couldn't possibly manage it all at the current rate without an immediate reval when the fiscal year hits. It might be an interesting project for one of our research/numbercrunchers to go back through the news thread and try to add up the totals for all the projected reconstruction and spending they are saying they will do compared to the projected budget at the current rate. I suspect that we would find that they couldn"t possibly do all that without a substantial reval at least by or at the beginning of the fiscal year. Just throwing this out there!