Thread: Phone Call From A Freind.....

Originally Posted by Loki

An oil tanker is seen in Basra this month. Iraq is nearing passage of a bill that would manage its vast oil wealth.


Oops! There's that photo!
Looks like they really are awatin' !
From Boston Globe.

Thanks to CharmedPiper!

That port in Basra is going to have a major major refit in order to accomadate the really big supertankers will try to find the article for you it was awhile ago I seen it.

Yes many of us do qualify as long term investors already.

neno where are the chats at? I never been. tks

Originally Posted by jer6925

neno where are the chats at? I never been. tks

We have Chat on the front of Rolclub's site. Enjoy.

I'll try this:
I just want to thank the Mods and the RC family members for keeping this forum a safe (comfortable) place to exchange information.
Leann

pm from a rolclub fellow family member who asked that it be posted:

just thought i would share this with you

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Hi shotgunsusie. I don't know if I want to post this or where to post it so i just thought i would share it with you. I got this email on 2-7-07 from a friends broker who first informed us of the dinar. I know you are very bold so i thought you could read this and decide if/where you would like to post it. if you do then please let me know where. THANKS!

Ok Quick review

Dec 2nd, the following was presented

Rv after passing of HCL at .93 Euro



Was expected mid- dec...but agreement has been made now



31 / 01 / 2007 MENAFN The Iraqi Minister of Oil that Iraqi oil will be divided equally to the Iraqis, since the final draft of the oil law had been completed and was put on the Energy Commission to the Council of Ministers, and were unanimously approved by the Committee with some amendments in it



Still has to pass the Council of Ministers and Council of Representatives(parliament)

Expect passage in both before Feb 10th(when parliament recess begins)...Parliament already has enough votes to pass HCL so will be formality once there



Also that Vietnam and Iraq would be very close timing



this hasn't changed. Purpose is to prohibit taking profits of one and speculating on other...

However, if Iraq fails to complete HCL very soon, Vietnam will go alone as they are ready. Vietnam "technically" has till end of March to implement WTO requirements. If you've been following Vietnam news, constant changes for WTO compliance in all industries in news



The HCL(hydrocarbon law) or "oil law" contains waaaaaay more than just supporting the RV but I cant go into that. Passage of this law also provides exercising of major oil deals and the International Compact for Iraq-. That Compact is made up of many Billions in reconstruction for Iraq from the donor countries.

IMF also holding debt relief over Iraq for passage of HCL.



Many of you ask what about collapsing the economy with such a big jump?

Back In Sept ,I spoke to some of you about the ESF- which is a fund used to achieve a specific target exchange rate. This is also known as the "Economic Stabilization Fund"



By this weekend- that cup will be full

Lets just say some article attributing Billions in USD funds to certain "projects" have been "inaccurate".

Been sitting in different coffer.



Parliament expected to meet Sunday- was Saturday- but postponed to "wait for more members can attend". Believe budget will pass finally.

Technically 3 readings of the law with day in between before vote- but they can waive the 3 reads if need



As for ISX status --- Basically, its at standstill due to nearly 40-50 NEW regulations that are being implemented. We cant go further until after the RV....

However, those in ISX now will receive an additional bump as incentive to keep $$ in market to keep market form crashing.

Example, if dinar were to RV at 1:1 and ISX folks got 10% extra once shares are adjusted

ISX folks would essentially see the RV at $1.10



Share adjustment expected about week after RV -

Direct investment by foreigners will not occur immediately despite the article saying April....

Sounds like delayed by couple months or so. Reason is so groups aren't bypassing Iraqi brokerages and investing direct into ISX thru like Goldman Sachs etc



Now Iran. Iran. Iran. Wow.The major media push towards Iran is expected to get hot.

Even PM Maliki has stated Iran is involved with the security problems but there are a few other chess moves coming.

Iran claims sanctions wont hurt them as they will drive price to $ 200.. However, some dudes got together and put out that by driving oil prices DOWN to around 35-40$ a barrel can turn Iran's gov't into the RED, thereby unable to funnel profits to fund insurgents.



Saudi Arabia has stated publicly they will flood the oil market to block Iran's move to raise prices thru roof.

Tying this altogether, remember oil law? Once law is passed and drillers have started,guess who will be there to pick up slack in oil exports once sanctions hit Iran? IRAQ



Isn't life grand sometimes?



What rate to plan for? .93 Euro

which is the Euro $ 1.29 (currently) x .93 = $ 1.20

one dinar to equal $ 1.20 +/-



Oh, and I'll get heads-up on RV timing when my partner leaves country again

Originally Posted by shotgunsusie

pm from a rolclub fellow family member who asked that it be posted:

This was an interesting post and the "Chess" moves make sense. Whoever this person is, I hope they feel a bit more bold in the future. I'd be interested in an update concerning this news....

Originally Posted by shotgunsusie

pm from a rolclub fellow family member who asked that it be posted:

I believe Vietnam is already a member of the WTO. The 150th member if I'm not mistaken.

Originally Posted by shotgunsusie

pm from a rolclub fellow family member who asked that it be posted:

Suz, thanks for posting that. Fascinating and encouraging to read, please post more from that person if you get an update.

Wow, sure sounds like an A team plan!

That was a very good post!

It really dose give you a fresh perspective! Plus, this sure sounded like an educated informant!