Thread: The NEXT New Rumour

What does any of you get by steeping on each other. Do you think its cool?
That anyone will adore you for making such comments? Pippyman, screwball, everwiser? Lets keep it civil on this forum please.

Thank you.
Admin

I come here the first thing every morning with my cup of coffee..Why is it the first thing I start reading is somebody being rude or telling somebody off. What a nice way to start my day.!!! I want to hear something to make to smile not something that is makes me sad that everybody cant get along. We are all here for one reason, to check on our investment, so come on EVERYBODY, RELAX...Drink some more coffee and chill. Be nice...PLEASE

Just to update on some important develpments. I know the media has been swift on the oil law but only the DRAFT has been approved by the Parliment. Expect atleast 2 to 3 months b4 the final approval is made on the oil law. To let those who are intersted...there will be NO sudden jump in the exchage rate...it will be lengthy...b4 it reaches dollar rate

Originally Posted by NotDeluded

Just to update on some important develpments. I know the media has been swift on the oil law but only the DRAFT has been approved by the Parliment. Expect atleast 2 to 3 months b4 the final approval is made on the oil law. To let those who are intersted...there will be NO sudden jump in the exchage rate...it will be lengthy...b4 it reaches dollar rate

Can you elaborate on the developments? IMO they need to do something BEFORE 03-22-07.

Originally Posted by Tigger1

Can you elaborate on the developments? IMO they need to do something BEFORE 03-22-07.

Yes certanly. Understand the IMF agreement ends 21/22 March but Iraqi officials do not adher to deadlines. They work at their own pace. What outsiders dont know is the amount of internal rangling btw various partys in govt. Satsfying all the partys is difficult and time consuming. Expect a few months b4 laws become effectiv. basically they do not care about the suffering citizens

Originally Posted by NotDeluded

Just to update on some important develpments. I know the media has been swift on the oil law but only the DRAFT has been approved by the Parliment. Expect atleast 2 to 3 months b4 the final approval is made on the oil law. To let those who are intersted...there will be NO sudden jump in the exchage rate...it will be lengthy...b4 it reaches dollar rate

I think you may be wrong here but it is my understanding that a draft is submitted to the council of minister at which time changes are made if necessary and then voted on. If approved it continues t Parliament where the same steps are taken and when it is voted on and approved it becomes law.

Wednesday, February 28, 2007 Iraqi parliament approves new oil draft law
Trade Bank of Iraq - Your Trade and Investment Partner in Iraq

If this is true then it is now law and only awaits publication in the official gazette to become enacted.

Originally Posted by lndmn_01

I think you may be wrong here but it is my understanding that a draft is submitted to the council of minister at which time changes are made if necessary and then voted on. If approved it continues t Parliament where the same steps are taken and when it is voted on and approved it becomes law.

Wednesday, February 28, 2007 Iraqi parliament approves new oil draft law
Trade Bank of Iraq - Your Trade and Investment Partner in Iraq

If this is true then it is now law and only awaits publication in the official gazette to become enacted.

Yes you are correct. My mistake. I meant to say that the draft has been agreed upon awaiting final approval and enactment.

Originally Posted by NotDeluded

Yes you are correct. My mistake. I meant to say that the draft has been agreed upon awaiting final approval and enactment.

As I said, according to the article in my post above it appears to be approved by all of the required parties. Normally a law takes 30 days after publication in the official gazette to become enacted. In the PDF version of the HCL which I have seen the 30 day requirement is struck through and the law will become active immediately after publication. With the gazette website being down the law could already be published without our knowledge. I believe we will see it much sooner then 2-3 months.

Originally Posted by NotDeluded

Yes certanly. Understand the IMF agreement ends 21/22 March but Iraqi officials do not adher to deadlines. They work at their own pace. What outsiders dont know is the amount of internal rangling btw various partys in govt. Satsfying all the partys is difficult and time consuming. Expect a few months b4 laws become effectiv. basically they do not care about the suffering citizens

Is this a rumor from a friend or just your opinion? I am not trying to be confrontational, but I am interested in information.

From all of the information on this site, we all know that they don't get along. That is nothing new. The part that keeps me hoping, is their progress in the last 2-3 weeks.

There is also that little thing of supply and demand. They continue removing currency from their economy and they are making NO efforts in equality in the street rate which is down to about 1000/1. Even OANDA is listing a rate of 1228 (I Think havn't checked it today).

My belief is that they are just keeping up appearances in the auctions, taking what they can out of the economy and they are not worried about the street rate due to them working on the laws. When the laws are done and implemented, WTO assession is obtained, and they are ready to do business, they will adjust their currency to benefeit themselves. (1.7mbpd X the last couple a years= ????a heck of a lot to support the country).

I have seen many people on this and other sites get angry with the GOI but, THEY are tring to rebuild a COUNTRY. That is great feat that has not been undertaken in a very long time and these people may be getting coached but it is still their heads on chopping blocks (so to speak).

In the past most people involved thought it was a done deal. Then new information came out to show that something was missed on our end simply because we don't know what it is to rebuild a country.

They are the ones who will be remembered throughout history wheather they succeed or fail.

Sorry to be so long winded but I guess that we will just have to agree to disagree.

I will still be waiting in anticipation with each new auction.

(Sorry if this is in the wrong place, I am still new here!)

Originally Posted by Tigger1

Is this a rumor from a friend or just your opinion? I am not trying to be confrontational, but I am interested in information.

From all of the information on this site, we all know that they don't get along. That is nothing new. The part that keeps me hoping, is their progress in the last 2-3 weeks.

There is also that little thing of supply and demand. They continue removing currency from their economy and they are making NO efforts in equality in the street rate which is down to about 1000/1. Even OANDA is listing a rate of 1228 (I Think havn't checked it today).

My belief is that they are just keeping up appearances in the auctions, taking what they can out of the economy and they are not worried about the street rate due to them working on the laws. When the laws are done and implemented, WTO assession is obtained, and they are ready to do business, they will adjust their currency to benefeit themselves. (1.7mbpd X the last couple a years= ????a heck of a lot to support the country).

I have seen many people on this and other sites get angry with the GOI but, THEY are tring to rebuild a COUNTRY. That is great feat that has not been undertaken in a very long time and these people may be getting coached but it is still their heads on chopping blocks (so to speak).

In the past most people involved thought it was a done deal. Then new information came out to show that something was missed on our end simply because we don't know what it is to rebuild a country.

They are the ones who will be remembered throughout history wheather they succeed or fail.

Sorry to be so long winded but I guess that we will just have to agree to disagree.

I will still be waiting in anticipation with each new auction.

(Sorry if this is in the wrong place, I am still new here!)

Im sorry but I will refrain from posting internal happenings as most seem to be clued up on everything! What i posted so far is what i heard and seen....it's not my own take on things. Many have this picture of the exchange rate rising sharply. This will not happen. My sources inform me that a rv was not planned until this year. The changes will happen in 2007 but definitly not the way people are thinkin it would.