trackeer

I think you nailed it.

US GAO: Iraq has $52b cumulative budget surplus in 2009 September 14, 2010 - 01:44:10 BAGHDAD / Aswat al-Iraq: The U.S. Government Accountability Office (GAO) said that Iraqi government data showed that Iraq generated an estimated cumulative budget surplus of $52.1 billion through the end of 2009. This estimate is consistent with the method that Iraq uses to calculate its fiscal position. In a statement posted online, the GAO recommended that the U.S. Departments of State and the Treasury should work with the Iraqi government to further identify Iraqi resources available for future spending. “This should include assisting Iraq in completing two reviews required under Iraq’s arrangement with the IMF,” the release said. It explained that first; State and Treasury should assist Iraq in completing a review of its outstanding advances to determine whether some of these advances may be recoverable and available for future spending. Second, State and Treasury should help Iraq complete a review of its central government accounts so that it can return any idle balances to the central Iraqi Treasury. http://en.aswataliraq.info/?p=136784

NO CHANGE: Currency Converter Inputs Convert Amount This Currency Converter can convert major World & MENA currencies with updated rates. Select the desired currency from the lists below and the amount to convert. Click on "Convert Amount" to get your answer.Convert amount of From [select Your Currency] Algerian DinarAustralian DollarBahraini DinarBritish PoundCanadian DollarChinese RenminbiDanish kroneEgyptian PoundEUROHong Kong DollarIndian RupeeIndonesian RupiahIraqi DinarJapanese YenJordanian DinarKuwaiti DinarLebanese PoundMexican PesoMoroccan DirhamNew Zealand DollarOmani RialPakistani RupeePhilippine PesoQatari RialSaudi RiyalSouth African RandSwedish KronerSwiss FrancThai BahtTunisian DinarTurkish LiraUAE DirhamUS Dollar To [select Your Currency] Algerian DinarAustralian DollarBahraini DinarBritish PoundCanadian DollarChinese RenminbiDanish kroneEgyptian PoundEUROHong Kong DollarIndian RupeeIndonesian RupiahIraqi DinarJapanese YenJordanian DinarKuwaiti DinarLebanese PoundMexican PesoMoroccan DirhamNew Zealand DollarOmani RialPakistani RupeePhilippine PesoQatari RialSaudi RiyalSouth African RandSwedish KronerSwiss FrancThai BahtTunisian DinarTurkish LiraUAE DirhamUS Dollar AnswerUS DollarExchange RateIraqi Dinar1.007:36:26 PM GMT1,166.551,166.55Invert Amount Disclaimer: MENAFN and Arab Bank PLC are not responsible or liable for the accuracy of information obtained from these calculators and shall not be responsible for trading and investment decisions made based on such information.Therefore the accuracy of this calculator and its applicability to your needs are not guaranteed. Obtain personal advice from qualified professionals if so needed.

I think this is how GE and many get to do business in IRAQ http://www.exim.gov/about/mission.cfm http://www.exim.gov/news/newsroom.cfm

Ex-Im Bank opens for business in Iraq Washington: Sun, 25 Jul 2010// The Export-Import Bank of the United States (Ex-Im Bank) opened in Iraq to help finance short-term and medium-term sales of US exports to Iraqi buyers in both the public and private sectors. Short-term insurance is available for transactions with repayment terms of 180 days or less, and up to 360 days for capital goods, the baank said. Medium-term insurance, loan guarantees and loans are available for transactions with terms of up to seven years, it added. "Iraq's economy is growing, offering specific opportunities for U.S. exporters in a variety of industries. Ex-Im Bank can help by reducing the repayment risk, especially for small businesses at this time," said Ex-Im Bank Board member Bijan R. Kian. Ex-Im Bank, he said, can provide export-credit insurance, loan guarantees and direct loans for creditworthy export sales to Iraq. The Bank's working capital guarantees (which help US exporters or their suppliers to obtain funds to produce or buy goods or services for export) are available to support exports to Iraq. Kian said the Bank could also consider providing long-term support where there were financing arrangements that eliminate or externalise country risks, such as asset-backed financings and structures that earn revenues offshore in a third country. Ex-Im Bank, an independent, self-sustaining federal-government agency, helps create and maintain US jobs by filling gaps in export financing and strengthening US export competitiveness. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized US businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of US goods and services. In fiscal 2009, overall Ex-Im Bank financing totaled $21 billion, and authorizations supporting small-business exports reached a historic high of $4.4 billion, nearly 21 percent of total authorizations, Kian said. In the first nine months of fiscal 2010 (through June 2010), Ex-Im Bank authorised $17.4 billion in loans, guarantees and insurance - more than the total amount authorized in fiscal 2008.-TradeArabia News Service http://www.tradearabia.com/news/BANK_183534.html IMO: this may be the way GE gets paid because of the present Iraqi turmoil.

WEALTH IN GOLD Submitted by pekwan on Friday, July 23rd, 2010 Citibank Bhd Mail Money Bank's multi-currency gold investments promise liquid returns Ee Ann Nee Friday, July 23rd, 2010 12:47:00 KUALA LUMPUR: Citibank Bhd expects its Citigold wealth management business to compound to a double- digit growth this year with the introduction of its multi-currency gold products. “We see the gold products as helping the growth of the business,” Citibank Bhd head of retail bank Paul Hodes said, adding that Citibank’s overall investment business has been growing year-on-year by 20 per cent while its dual currency accounts have been growing 40 per cent year on- year. Citibank this morning launched the industry’s first multi-currency Gold Accounts, which allow investors the option to pair their gold investment with US Dollars (US$), Australian Dollars (AUD) and Euros (EUR) electronically. “Gold investment offers an alternative asset class, giving customers the opportunity to diversify their investment portfolio. They can invest directly in the precious metal without actually taking possession of the physical item,” he said, adding that all other gold accounts offered in the market are denominated only in USD or MYR. He said the USD, AUD and EUR were the most currencies currently offered in the market against gold. With a minimum investment of US$5,000 or its equivalent, Citibank expects to attract investors who are familiar with gold as a commodity and want to invest in gold as a means of diversification and for potential capital appreciation. Citibank Bhd head of consumer markets Fabio Fontainha (pic) said the Gold Account is targeted at savvy investors in the middle to highincome groups. “Another benefit is liquidity, as the value of the Gold Account can always be converted back into the USD, EUR and AUD.” Citibank has 100,000 retail banking customers and 30,000 Citigold customers. http://interceder.net/i/Citibank http://www.mmail.com.my/content/44126-wealth-gold http://www.theedgemalaysia.com/business-news/170481-citibank-launches-multi-currency-gold-products.html

IRS Drops and Gives You 10…Military Tax Tips Summer is a busy time for everyone, but particularly for military members and their families. Whether it’s moving to a new base or traveling to a duty station, members of the military have many obligations that could impact their tax situation. Here are 10 IRS tax tips military members should keep in mind this summer to help with filing a tax return next year. Moving Expenses If you are a member of the Armed Forces on active duty and you move because of a permanent change of station, you can deduct the reasonable unreimbursed expenses of moving you and members of your household. Combat Pay If you serve in a combat zone as an enlisted person or as a warrant officer for any part of a month, all your military pay received for military service that month is not taxable. For officers, the monthly exclusion is capped at the highest enlisted pay, plus any hostile fire or imminent danger pay received. Extension of Deadlines The time for taking care of certain tax matters can be postponed. The deadline for filing tax returns, paying taxes, filing claims for refund, and taking other actions with the IRS is automatically extended for qualifying members of the military. Uniform Cost and Upkeep If military regulations prohibit you from wearing certain uniforms when off duty, you can deduct the cost and upkeep of those uniforms, but you must reduce your expenses by any allowance or reimbursement you receive. Joint Returns Generally, joint returns must be signed by both spouses. However, when one spouse may not be available due to military duty, a power of attorney may be used to file a joint return. Travel to Reserve Duty If you are a member of the US Armed Forces Reserves, you can deduct unreimbursed travel expenses for traveling more than 100 miles away from home to perform your reserve duties. ROTC Students Subsistence allowances paid to ROTC students participating in advanced training are not taxable. However, active duty pay – such as pay received during summer advanced camp – is taxable. Transitioning Back to Civilian Life You may be able to deduct some costs you incur while looking for a new job. Expenses may include travel, resume preparation fees, and outplacement agency fees. Moving expenses may be deductible if your move is closely related to the start of work at a new job location, and you meet certain tests. Tax Help Most military installations offer free tax filing and preparation assistance during the filing season. Tax Information IRS Publication 3, Armed Forces’ Tax Guide, summarizes many important military-related tax topics. Publication 3 can be downloaded from IRS.gov or may be ordered by calling 1-800-TAX-FORM (800-829-3676). Links: Tax Information for Members of the U.S. Armed Forces IRS Publication 3, Armed Forces’ Tax Guide

Gauging progress Biden meets with General Raymond T. Odierno Biden chairs Iraq meeting By MATT NEGRIN | 07/15/10 3:42 PMClose Email this ArticleBiden chairs Iraq meeting Biden meets with senior officials to discuss Iraq today. AP Close Vice President Biden was scheduled to chair a meeting with senior officials to discuss the state of play in Iraq, according to White House guidance. Before the meeting, Biden met with Sen. Lindsey Graham (R-S.C.) to discuss their recent trips to Baghdad. http://www.politico....eda8f56618.html

Gauging progress Biden chairs Iraq meeting By MATT NEGRIN | 07/15/10 3:42 PMClose Email this ArticleBiden chairs Iraq Biden meets with senior officials to discuss Iraq today. AP Close Vice President Biden was scheduled to chair a meeting with senior officials to discuss the state of play in Iraq, according to White House guidance. Before the meeting, Biden met with Sen. Lindsey Graham (R-S.C.) to discuss their recent trips to Baghdad. http://www.politico.com/politico44/perm/0710/gauging_progress_fafad273-d8c4-4249-9dc7-08eda8f56618.html

Iraqi government criticized for failing to raise the value of the Iraqi dinar Wednesday, July 14th 2010 12:09 PM Baghdad, July 14 (Aknews) – The departing Iraqi government has faced criticism from economists for failing to increase the value of the Iraqi dinar despite the rise in oil prices on the international market. The dinar continues to suffer from it's significant difference in value from the hard currencies and this divide has been blamed on the lack of financial planning by Iraq's governmental economic institutions. Iraqi economist, Taher Yasin said today that the appropriate governmental institutions need to look seriously at the activation of the necessary frameworks that would lead to the development of the position of the Iraqi dinar on the international market. "The problem of the Iraqi currency remaining the same despite high oil prices is due to the lack of economic awareness in the country, as well as the arbitrary decisions taken previously by the Iraqi government." Yasin observed. Yasin further commented that this would be all the more pertinent in light of the opening of Iraqi markets in the region. It is Yasin's belief that Iraq's economic prosperity and the strengthening of the Iraqi dinar are being hampered by financial problems resulting from the government's past decisions and lack of financial planning. rn/ka (AKnews)

I don't think August 1st is out of the question, it must have been written somewhere; and also remember that the General O is saying only 50,000 troops in Iraq on September 1/ only 30 days later. Today we saw Iraq officially state the dinar is under-valued and hurting its' people. Economist: Government failed to enhance the value of the Iraqi dinarJuly 13, 2010 · Posted in NEWS 13/07/2010 Baghdad, July 13 (Akaniwz) – Iraqi economic expert said on Tuesday that the Iraqi government ended its mandate failed to bring the level of a currency exchange foreign currency in spite of the rise in oil prices in the global market. Taher al-Yassin , told Kurdistan News (Akaniwz) The “currency of Finance of Iraq is still suffering from the crisis of the great difference between them and the hard currency, due to lack of financial planning for government economic institutions in the country.” He said that ” government institutions should deal seriously in activating the general frameworks that would develop the role of the Iraqi currency, especially in light of market opening up of Iraq at all regional markets . ” He added that ” the main problem in the survival of the Iraqi currency untouched despite high oil Primacies , due to the lack of awareness of the country’s economic , as well as arbitrary decisions taken by the Iraqi government earlier . ” According to Yassin , “it is not easy to forecast economic prosperity of Iraq and the rise of the Iraqi dinar in parallel with the hard currency in light of the pending financial problems . ” http://www.aknews.com/ar/aknews/2/163655/

Iraq News US Forces confer Bucca Camp to Iraq Monday, July 12, 2010 13:43 GMT US Forces delivered half of Bucca Camp to the Iraqi authorities. The delivered part includes a big station to purify underground water and to treat heavy water in addition to a complete camp for training that is dedicated for Iraq Navy forces. Partial Change of Command Ceremony included bringing down the US flag and raising the Iraqi flag along with army music and in the presence of Iraq Tribes leaders and sheikhs as well as the Security Forces leaders and Local Officials in Um Kasr region. The delegation of the local government said that the change of command ceremony took place according to the Security Agreement between the Iraqi and US governments pointing that the camp will be transformed into a center to serve Al Basra citizens. http://alsumaria.tv/en/Iraq-News/1-51652-US-Forces-confer-Bucca-Camp-to-Iraq.html

I googled the heck out of it and found it. I think I know how those dinars are getting on the bases, when the Iraqi Banks are established on the bases, the dinar appear; and when that happens probably most americans are relocated and never see it. So imo, you and your friends are correct.

In an effort to decrease the use of U.S. currency and stabilize the Iraqi economy, Gen. Raymond T. Odierno, commander of U.S. Forces – Iraq, has directed leadership on all enduring bases in Iraq to solicit, select and establish Iraqi banks on their installations. Saturday, July 03, 2010 Bank of Baghdad to Open in Mosul [iraq] 13th Sustainment Command (Expeditionary)Story by Sgt. Chad Menegay 07.02.2010 MOSUL, Iraq — In an effort to decrease the use of U.S. currency and stabilize the Iraqi economy, Gen. Raymond T. Odierno, commander of U.S. Forces – Iraq, has directed leadership on all enduring bases in Iraq to solicit, select and establish Iraqi banks on their installations. In accordance, Maj. Tommie Stevens, Contingency Operating Base Marez/Diamondback, Iraq mayor and executive officer with the Regional Fires Squadron, 278th Armored Cavalry Regiment, 13th Sustainment Command (Expeditionary) and a Sherwood, Tenn., native, came to an agreement with Leila Anan Yeyia, executive manager for the Bank of Baghdad board, June 22 at COB Marez. “This is an effort to reduce the amount of dollars that the United States has got floating around here in Iraq and to strengthen the Iraqi dinar,” Stevens said. “It’s important for Iraq to strengthen its currency.” The Bank of Baghdad, a U.S. Treasury-approved bank that operates 25 branches across the country, chose a pre-existing building at COB Diamondback to renovate. The location is near the Mosul International Airport. “Once the (Hercules Engineering Solutions Consortium) barriers and ‘T-walls’ are removed, it will be a very well-placed location for that bank to operate for the citizens of Mosul,” Stevens said. Yeyia said it might take only a couple months to open the bank’s doors to the COB Marez/Diamondback public. “The bank opening will create jobs,” she said. “There will be a lot of people involved in this facility. This is an opportunity for the economy to grow in the city of Mosul,” Yeyia said. Stevens said the bank will give the the local nationals and foreign nationals the opportunities to make safe deposits, electronic funds transfers, electronically wire money home, open lines of credit, buy goods and electronically sell those goods. “In Iraq we have a huge problem in how we manage our cash flow,” Yeyia said. “The facilitation of credit to vendors and local people is important, as are ATMs, EFTs, and point of sale devices. We use these systems to ensure the security of money. To facilitate the cash flow and economy of Iraq is one of the most needed things to do in our country.” Stevens said there is no doubt that the opening of this bank will have an impact on stabilizing Iraq. “I care how this benefits the citizens of Mosul,” Stevens said. “I think any soldier who serves the U.S. military cares about what our initiatives are, what our goals are, what we’re doing here. I think strengthening the Iraqi dinar is very important for the stability of Iraq. Everything we do at this point is to strengthen the government and people of Iraq, to get them unified and get that national identity back that they need to exist as a country.” http://waronterrornews.typepad.com/home/2010/07/bank-of-baghdad-to-open-in-mosul-iraq.html Associated Images

http://www.un.org/Depts/treasury/ United Nations Treasury United Nations Operational Rates of Exchange