dragon

I don't see a place to enter the shakeups 29% discount code on the VIP Lifetime Cert screen??

Blossom, floss 'em, toss 'em. First I've heard of Possom. Is he mocking or seriously planning to channel the Spirit??

CNN video newcast on the GOI now formed: http://www.cnn.com/video/#/video/world/2010/12/21/lklv.karadsheh.iraq.parliament.cnn?iref=allsearch

Consider Investing some of your post RV profits back into Iraq, such as in the stock market. It will help to give jobs to the people, and repay them for some of the great suffering they've endured to make our profits possible. They've had many years under Sadam, and since under the sanctions and Chapter 7, struggling just to survive, with barely enough to eat, and facing daily threats from bombings, etc. In your plans to help others after, don't forget the people of Iraq and the American soldiers and their families, who have paid dearly so that we can have this blessing. Since they have so little dinars themselves, they won't benefit directly from cashing in shortly, as we will. Their benefits will come from an improvement in their economy and, specifically, jobs, along with greater peace and security. Consider giving something back to help them after. Not only will we be doing a good thing, but you may make a further profit on investing there (such as in some of the ways that Adam will be suggesting post RV in the VIP section).

I've been a member of an org called The Sovereign Society for years, sovereignsociety.com , and they are all about keeping control of your wealth and offshore stuff. They have Canadian experts as well as American. You might want to browse their site and give them a call for info. I went to a local C.A. to ask him about offshore corps etc. He sets up some in Barbados, because Cdn major banks have branches there, so he feels it's safer and doesn't know much about other countries. He said it is about $5000 to do a corp there. Prices vary in various countries, and the security of your money in them does as well, so you want to research it well. By the way, it's not necessarily better to have the local banks in your offshore haven; posts here have said that it is easier for the Cdn govt to pressure them to hand over records of Cdn with accounts there, and given examples, in particular a problem with Scotia Bank I think it was making it difficult or impossible for Cdns to open accounts in other countries under govt pressure (not sure where that post was and the details, but try a search of the forums). Adam's OSI group on this site has researched and made arrangements for those interested to form offshore corp & bank acct, for just over 1600, which is a relative bargain. You can find info on this site for that and would need to become a VIP member--and be setting up an offshore business to access all their info--which is only $49 for 3 month membership, or more for longer. I formed a local corp in Ontario, was 1600 just for the corp, and you go to your own bank to set up an account. A tax pro can advise you best what the pros and cons are for forming a corp to hold ownership of your dinars and how much it would reduce the taxes. If you want your dinar profits held offshore, you definitely need to consider having ownership in the name of your corporation--and transferred before the RV--not you personally, as you would be liable for the taxes personally as far as I know, unless you go the "non-resident" route (but that means severing most financial ties with Canada and living most of the year at least in another country. You can find the non-res rules on the Cd Rev Agency site. That would be a serious decision that you'd want to be clear about.)

News item talking about Iraq being a great place to look at investing now. Mentions a few stock picks in particular by an Investment adviser. http://www.cnbc.com/id/15840232/?video=1662081869&play=1

I saw this report on cnbc.com that investing in Iraq is a hot place to look now. One investment manager interviewed mentions a few stocks he likes in particular. http://www.cnbc.com/id/15840232/?video=1662081869&play=1

Convinces me even more that they need to revalue their currency, so they can afford to support their people. Hopefully the politicians there aren't too stupid to see that and fast.

Apparently the administrators on this site have set it up to automatically block links etc to other sites, because I just tried to post some as well and it instantly switched words so the links don't work. You can figure it out with the clues and a little reworking. I'm starting to see why others have been getting p o 'd on here. Reminds me of how the news works in totalitarian countries, that we can read only what they want us to read.

Don't know if someone will block this excerpt of news on the 2011 budget from Justhopin, but it's very informative, so I'll try a post. If it gets taken down try: http://don't promote other sites.wordpress.com/2010/11/20/special-report-iraqs-2011-budget/ the basic site link to see various interesting articles is: http://don't promote other sites.wordpress.com/ Posted: November 20, 2010 by Justhopin in Iraqi Dinar/Politics Tags: Asharq Al-Awsat, Ayad Allawi, Central Bank of Iraq, Council of Representatives of Iraq, Eid al-Adha, Government budget, Iraq, Iraqi dinar, Iraqi National Movement, middle east, Ministry of Electricity, oil, OPEC 0 At a time when nongovernmental economic establishments called for expediting approving of the next year’s (2011) budget and cutting down the operational expenditures to reach the lowest rate of deficit, Othman al-Juhayshi, member of the Iraqi parliament for the Al-Iraqiya list, said that the political blocs have agreed at the meeting held last Saturday to complete the formation of the parliamentary committees and authorize the Financial Committee to study the budget for next year to approve it within the next few weeks after the blessed Id al-Adha. The Iraqi Finance Ministry has already announced that it worked out the budget for next year at $86.4 billion, which is more by $14 billion than the current budget. A statement by the Economic Media Center, a copy of which was obtained by Asharq Al-Awsat, said that “at a time when the Center welcomes the convening of the Council of Representatives, the next task that it is supposed to shoulder is to expedite the formation of its committees to carry out their missions, including the Economic Committee which shoulders the responsibility of studying the general budget and working out the suggested amendments to its articles, which have become necessary to be discussed and approved to avoid the delay that is taking place in the budget of last year, in addition to making it binding for the Finance Minister to prepare a closing balance after each fiscal year to show the size of the financial transactions and the volume of the real expenditures and the mechanisms for offsetting the budget deficit, which are right mechanisms that should be followed in accurately working out the budget to estimate the deficit in a real and objective way.” It added: While the Center urges the Council of Representatives to quickly approve the budget, it is at the same time calling for further scrutinizing the articles of the operational spending and to trying to cut down the operational expenditures in a manner that does not have an impact on the state general performance in order to reach the lowest possible budget deficit in light of the advance announcement about the possibility that the budget deficit may reach about 18 trillion dinars (more than $15 billion) this year in spite of the expectation of a rise in Iraq’s oil exports, and subsequently, a growth in the revenues from oil sales. In earlier statements, Fadil Nabi, undersecretary of the Finance Ministry, said that his country “has suggested a budget for next year by $86.4 billion.” Nabi added that “Iraq has submitted an initial draft budget for 2011 at 102 trillion dinars ($86.3 billion)” assuming that the international price of oil is $70 per barrel. Iraq depends on its oil revenues to finance about 95 percent of its budget. Iraq, an OPEC member state, signed agreements with international oil companies that may increase its output capacity within 6-7 years to 12 million barrels a day from the current 2.5 million barrels a day, which would make it a competitor of Saudi Arabia, the largest crude producer in the world. According to the assurances of the Finance Ministry’s undersecretary “the budget is currently at the Council of Ministers and will be sent to the parliament after the formation of its committees.” For his part, Dr Othman al-Juhayshi, the deputy for the Al-Iraqiya list, told Asharq Al-Awsat that “the budget of next year should have been approved one month before now, but the delay in the parliamentary sessions and the crisis of forming the government prevented this. As all know, approving the budget requires enough study by the Financial Committee to amend, add, and delete [whatever is necessary] and then it should be subjected for the first and second readings at the Council of Representatives before a vote takes place on it. These articles certainly require time, and this is what the new parliament does not have.” He disclosed that “all the [political] blocs have agreed at the last session on the need for expediting the formation of the committees after Id al-Adha, and to send a message from the Council of Representatives to the government to ask it to submit the budget to the parliament to approve it. Hence, the budget is one of our priorities at present in light of its importance and to prevent obstructing the government’s work in all that is related to the citizens, pointing out that delaying approving the budget of 2011 has taken place due to the problems between the blocs because the elections were about to be held. The government became a care taker government, and the delay has negatively affected all state institutions, and we do not want to repeat this again.” The parliament last January approved the 2010 budget at $72.4 with a deficit by $19.6 assuming that the oil price is $62.50 per barrel. For his part Mazhar Muhammad Saleh, expert of the Iraqi Central Bank, said in a statement to Asharq Al-Awsat that “the issue of estimating Iraq’s budget for next year is a very complicated issue and depends on several scenarios, including the daily anticipations, such as the rates at the financial markets and the oil markets, and the international expectations for the next stage was between $80-85 per barrel within the framework of OPEC market. In Iraq, the price is lower by $7 than the expectations for the international market.” He said that “Iraq’s budget mainly depends on oil sales, which means that it has one source, and last year it was expected to sell 2.15 million barrel a day, and the current output is still low and below 2 million barrel for several reasons that deal with exports, transportation lines, and others.” On the anticipated figures in the budget of next year, Salih said: “There are two articles in the budget, which are the operational and investment allocations, and hence, we should think of how much can we reduce the first and increase the second for the purposes of development and investments in particular. We have expected a growth rate by 9.4 percent, which is an ambitious rate that is close to that of China.” The current government is facing a wave of criticism because it has not submitted its closing accounts of the government budgets since 2005 and until now, and there are demands to refer the issue to the monitoring and judicial quarters because these accounts should have been discussed and approved by the parliament. The Electricity Ministry demanded allocating a sum of 7 trillion and 806 billion dinars ($6.7 billion) from the budget of next year to cover the spending on its projects in the field of developing the electricity sector, which were approved by the government. This was announced by Musab Siri al-Mudarris, the official spokesman for the ministry, who added that the Ministry of Planning has proposed allocating 5 trillion, 266 billion, and 650 million Iraqi dinars ($4.5 billion) as an investment budget for the Ministry of Electricity, and considered it a large budget compared with the previous years. He stressed that these funds are not enough to achieve the investment projects of the ministry, pointing out that there are funds that are due to be paid by the ministry within the framework of the projects that have implemented this year and the previous years, including 2 trillion and 925 billion dinars from the treasury; therefore, they should be returned to the state treasury next year, and the ministry is bound to pay other funds that will be due in 2011. Just as I feared. Try filling in don't promote other sites. where appropriate. I believe we need all the intel we can get, and I don't like censorship. Isn't freedom of speech an essential part of what makes America so great? currency news hound Starting to think we've time warped into the Soviet Union.

I read somewhere that the GOI wanted a higher rate and the IMF was trying to coerce them to go with a lower rate. IF that's true, IMF be damned!

I've read posts elsewhere that stated the budget has to be done before the end of Dec according to their constitution, so if that's true, then they couldn't drag it out too long. Hopefully, the RV is in it, as many expect. I read one good post by an economist, who was analyzing the money supply available in Iraq, taking into account all the large bills they have already taken back, in light of the budget of 86+ billion they have already stated. His calculations indicated that they could only support a budget of that amount if the dinar had a value of around $3.22 or more. Hopefully, he is right, and the GOI was already aware of that when they discussed a budget of that amount and are planning for an RV of that amount at least. If you've listened to all the interview segments on youtube with Ali of dinartrade and don't promote other sites, Ali mentions that it he thinks (but is just his opinion, no insider info according to him) that the rate will be fazed in. He mentions the Kuwait example, starting at something like 14 cents and then gradually increasing to it's present value. Hopefully they don't start as low as Kuwait did. With all the assets they have, they could easily support a much higher rate, as the economist stated. Who really knows, but I keep saying my prayers, as I believe a more logical amount would be at least $2-3, especially since the people are suffering financially and the higher rate would help to solve that much sooner. Lets hope the GOI is as logical as many of the experts we believe in.

Just to add another funny post on extreme cold, I worked as a surveyor building highways in Lynn Lake, northern Manitoba Canada for a couple years in the early 70's. It would get down to -50 at times, and that wasn't the wind chill, just the straight temp. I had an MGB up there and went to push start it one day. Two of us were pushing with another friend inside steering and working the clutch. It was so hard to push, I yelled at him, "Do you have the brake on?" He said no. When I looked down at the rear wheels, as we pushed, they weren't turning. The bearing grease was so stiff from the cold that the wheels were just sliding down the road, not rolling. I can laugh about it now. It was fun when I was young and didn't know any better, but I sure as hell wouldn't want to be up there now that I know better. On topic, I don't have a clue if Okie is genuine or not, but is it possible he can work in a grocery store, as a senior doing something different now, but still have been an oilman and still have good contacts in what's going on over there? I would like to know what the truth is, as I want the best intel I can get to make good decisions with my future.