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  1. FEATURE-They're buying what? US investors latch onto Iraqi dinar By Gertrude Chavez-Dreyfuss NEW YORK | Thu Nov 15, 2012 4:35pm EST Nov 15 (Reuters) - The U.S. stock market almost wiped out his retirement account, but retired pilot Ronald Scarpa hasn't lost his taste for risk. Lately he has turned to one of the chanciest investments in the world - the Iraqi dinar. "It's not a question of if, but when Iraq revalues its currency," said the Las Vegas-based Scarpa, who keeps dinars in his retirement account. "The dinar will eventually have substantial value, possibly the highest in the world." He's not alone in risking his money on an investment that can charitably be described as a long-term turnaround project that will pay off only for the extremely patient. Thousands like Scarpa in America are buying the dinar, hoping someday the war-torn nation can revalue a currency worth just a fraction of a penny. The fundamentals for buying the dinar are precarious. The United States invaded the country in 2003 and has only recently removed most of its troops. The country's political situation remains unstable, and destabilization in the Middle East - most recently with rockets fired between Israel and the Gaza Strip - could undermine the fledgling republic further. U.S. retail investors' interest in Iraq's currency is part of a broad push for investment opportunities that will give some yield. Most of them cite near-zero interest on their U.S. savings and certificates of deposits as a reason for buying dinars and other exotic currencies. The dinar, worth just a tenth of one U.S. cent, is experiencing additional downward pressure as a result of international economic sanctions imposed on neighboring Iran and Syria. Also, buying the dinar is a task in and of itself. The currency is only traded in Iraq, so it can only be purchased by U.S. customers through a handful of dealers around the U.S. who get their dinars from Iraqi banks. If a customer wants to sell his dinars, the dealer will only buy it back at a 30 percent discount - so no quick trades here. But Scarpa said he is prepared to wait. The country has the second-largest oil reserves in the Middle East and exports 3.4 million barrels of oil per day, making it one of the world's largest oil producers. "If the dinar rises to just even a penny, you would have realized a profit of 900 percent," Scarpa said. WEAK CURRENCY BRINGS IN SPECULATORS In the last four years, the dinar has barely moved. Since 2008, it has appreciated by just 5 percent against the dollar, and at a tenth of a penny, the Iraqi dinar is the weakest currency among oil-producing Arab nations. The Kuwaiti dinar is worth about $3.50, while Saudi Arabia's riyal is equivalent to roughly 26 U.S. cents. The old dinar was worth $3.20 before the United Nations embargo that followed Iraq's invasion of Kuwait in 1990. By August 2002, the dinar had plummeted to a fraction of a penny. Speculators are betting that given Iraq's potential as an oil-driven economy, the dinar could rise to a value of $1 to $3. "I looked at the risks and I decided that this is not going to bankrupt me," said 35-year-old Ryan Williams, a former sheriff in Bakersfield, California. "You invest a couple of hundreds or a couple of thousands of dollars and even if it just appreciated by 10 to 15 percent a year, that's still a lot better than investing in certificates of deposits here." The Iraqi central bank sells dollars daily at a fixed price of 1,166 dinars through two state-run financial institutions and some private lenders Those institutions set the market rate through sales to customers. The current market rate is 1,215 dinars to one U.S. dollar. Hassnain Ali Agha, founder of Las Vegas-based currency dealer Dinar Trade, is the biggest U.S. market-maker in Iraq's currency. He also sells other exotic currencies such as Afghanistan's afghani and the Libyan pound. The United States is a huge market for Agha's firm, which has nearly 900,000 customers, 90 percent of which have purchased dinars. His customers are U.S. mom-and-pop investors - teachers, police officers, and construction workers. He also sold dinars to many U.S. soldiers coming back from Iraq. Agha, who formerly traded at the Chicago Mercantile Exchange and New York Futures Exchange, himself holds more than $2 million in dinars, he said. In 2011, Agha said, his firm sold about $577 million in dinars to U.S. customers, most of whom hold dinars for investment purposes. "People in the U.S. really feel that Iraq is the next frontier market to make money on," said Agha. "There will come a time when the Iraqi government will have to adjust the dinar exchange rate given the country's oil exports. That will start fueling the fire." Agha sells dinars in 1 million lots for $1,120. For the U.S. investor, however, it has to be a long-term holding. Dinar Trade will buy Iraqi notes at $850 per million, so the dinar would have to appreciate by about 30 percent before an investor could sell and break even. IRAQIS WANT DOLLARS In Iraq, prices are quoted both in dinars and dollars, but many prefer the greenback, locals interviewed by Reuters said. Saja Majeed, a 30-year-old civil servant in Baghdad and a mother of two, said she carries dollars in her wallet because it is safer and she sees little opportunity for the dinar to rise. "There is no industry in Iraq except oil. The dinar is linked to oil, but oil will run out one day," Majeed said. Revaluation will only happen once the Iraqi government stabilizes. Iraq's central bank hopes to make one dinar equal to $1 at some point through redenomination and central bank-induced appreciation. Iraq's deputy central bank governor Mudher Kasim told Reuters that process could take three years. America investors are remaining patient. "The big question is: where do you put your money in the U.S.? You can't get any interest in your money. Banks give you almost nothing on deposits," said Donna Simko, a real estate agent in her mid-sixties in Riverside, California. "The gold rush into Iraq is just getting started."[/center][/left]
  2. Hello!!!!!!! Let me add a little more! I asked my cousin to look for the missing puzzle in this adventure. The power sharing agreement for the people. I asked him to look outside the box. In other words they might have passed or will pass the law attached to something else. Well he found it. It is the antiquities law. The CoR (parliament or council of rep.) Brought it forth on wednesday and past it on thursday. Have the pders search for it. You see the antiquities law falls under article 109 of the constitution. This article also includes (power sharing) to distribute the oil and gas wealth fairly to the people through the governates of the regions. Now this has to be monitered right. Well there was a 3 day meeting in beirut spear headed by the UN! This is what happened. They formed the Federal council. The Federal council will be a buffer between the regions, governates and the CoR, GOI! This way the iraqi people will have a voice;) You see the UN has partnered with the CoR so the people could have a voice through the Federal Council! This was the last piece I was looking for in this timeframe before the vote on the release of chapter vii by the UNSC. We might see a short delay to get there ducks in order:))))) but have no doubt it will get done and this last piece of info tells me....GET READY!!!!!!!!!! Cheers ALL friends ocrush:))))) Now this is really getting exciting. I think I need the Nursie to standby in case we get more good news. I am not sure I can handle any more in one day. I just talked to Ray and this confirms a few dots we could not quit connect. Ray's comments was "boy they are really trying to keep this secret". There is just too much riding on this. Thank you for sharing. Happy Holidays, Steve
  3. Hey Steve/Ray or insert name here. What happened to you and your partners contract for 2012 that you said was written in the "new rate"? Whoever asked about the rate was banned lollll I thought you were going to fly to Iraq with DonnieR in your Cessna to get updates? You are so full of crap since you came on the dinar bandwagon. Love how you read the posts by seetrader and complain to your sheeples AS IF IT DOESN'T BOTHER YOU... your like a 12 year old fat kid that doesn't get picked to play and runs home to mommy. How pathetic are you...At least checkmaite and Adam are making dough off their sites. I read your updates/comments to remind myself how full of **** you are. Now post what I say so i can see what kind of retarded dingbat comment you make to see how many pluses you get from your sheeple!!
  4. Central Bank: the dinar became more like a strong and hard currency! Palm - noted the deputy governor of the Central Bank of the appearance of Mohammed that the dinar foreign currency covered by more than (100%) and no fear upon the volatility of currencies of neighboring countries. Saleh said in a press statement on Saturday: The dinar today has become a strong and like a hard currency thanks to the policy of the central bank in control of the cash raised in the local market, adding that the dinar covered in hard currency at a rate of more than (100%) This is a rare condition, and has a cash reserve large than for hard currency (60) billion dollars retained by the face of difficult circumstances that may occur in the country, giving the power of the dinar against foreign currency. He noted that the goal of central bank policy at the moment is the stability of the exchange rate of the dinar against the U.S. dollar, but our goal in the long run be equal to it being a process need to be a strong economy and low inflation and a large cash reserve. He was a member of the Finance Committee and the National Alliance MP Haitham Jubouri may likely price equal to the Iraqi dinar against the U.S. dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency. Jubouri said in an earlier statement that the approach undertaken by the central bank retention rate of the dinar against the dollar during the current indication that monetary policy in the country able to make the dinar equivalent of the U.S. dollar.
  5. Economist: high exchange rate of the dollar against the dinar is a natural phenomenon does not raise concerns On: Wednesday 02/15/2012 13:57 Baghdad (news) .. According to the economist, Ismail Abdul Hussein that the high exchange rate of the dinar against the U.S. dollar during the current period is a natural phenomenon due to the great demand for hard currency. Said Abdul-Hussein (of the Agency news) on Wednesday: The central bank in control of the mass of the cash raised in the local markets and fears of increasing the U.S. dollar against the dinar because the main control by the central bank. He pointed out: that the central bank policy now tended to increase the exchange rate of U.S. dollar against the dinar by reducing the dollar selling at auction the central bank to the presence of significant demand for the dollar and withdrawn from local markets, considering the action taken as good and necessary for the time being to keep the hard currency of force. He added, if left without control of the dinar and follow-up in the local markets for the price of one U.S. dollar against the dinar (1500) JD, explaining that the Central Bank is working to support the dinar against foreign currency through monetary policy. The exchange rate of U.S. dollar rose significantly against the dinar during the current period where the U.S. dollar reached one B (1230) JD, after the latter was conservative on the price against the dollar by (1200) dinars to the dollar. / Finished / 8. D. Q /
  6. SIMILAR ARTICLE FROM TODAY THEY ACTUALLY SAY REVALUATION OF THE IRAQI DINAR!!!! Central Bank: GDP of Iraq will rise from 180 to 350 billion dollars after two years On: Tuesday 02/14/2012 14:54 Baghdad - Mostafa Hashemi Deputy Central Bank Governor that the circumstances surrounding the neighboring countries do not affect the Iraqi dinar exchange rate. He confirmed the appearance of Mohammed Saleh told (the citizen) that the strength of the Iraqi dinar is derived from a link Iraq to the global economy. He emphasized that the events taking place in neighboring countries can not affect the currency exchange rate, but are not superficial negligible. Pointing out that the currency's strength also comes from the strength of Iraq's oil exports and how to maintain and invest in real development. He pointed out that the revaluation of the Iraqi dinar leap large will lead to increase the price of goods to weaken the double. Also can not declare that the dinar will rise and will become the price Doe in order to prevent speculation and if what is left of the Iraqi economy at this pace and increased exports of oil and oil markets is controlled, it will make Iraq a key player in the region and will increase the GDP of Iraq of about $ 180 billion to 350 billion dollars in 2015 and this figure will be reflected on the price of the dinar in a logical yes. Noting that monetary policy aims to stabilize the external value of the Iraqi dinar exchange rate and at every opportunity to increase economic exchange rate Fsnrfh. Stressing that the Iraqi dinar currency strong and significant as the neighboring country (unnamed) Iraqi dinar traded at Mahalha and its markets as a hard currency at least as important as the U.S. dollar. On the other hand, Saleh said that we are always working to review the controls sale of foreign currency out of the window official (central bank) and Iraq enjoy considerable freedom in the transfer of funds as provided for in Article VIII of the Convention on the International Monetary Fund has allowed Iraq to free current account to purchase goods and services from abroad without restrictions. He said the obsession as a policy cash application of the law against money laundering, crime and terrorism, and must make it clear that the banking side, embracing the tainted money. Saleh said that the Iraqi economy is strong despite the lack of diversification of the rentier economy, one-sided and not a defect, Australia Kendatad rentier countries to this day .. What matters is that import rents must be employed in development and economic progress and not in the type of economy. Saleh expressed his support for the investments of oil in southern Iraq, saying that this will develop the Iraqi economy and not the accumulation of rent, but that the accumulation of rents in other sectors is what we aspire to Kaguetsadaan.
  7. Greeting Members, Ray and I have been comparing notes with our contacts and we have been very encouraged with the recent news coming out of Iraq. The other day one of our members posted a few screen shots which are below and a current news article to back up what our contacts are saying. Here is a current update by one of Ray's Iraqi contacts: Steve, Was talking to some of my contacts yesterday and today and just wanted to give a little update on what is happening in Iraq right now. The people over there have been getting nervous about all the currency that has gone to Iran and Syria and was worried that the CBI was going to run out of money. Mohammad Mudher, the man who gave the press conference last week, came on TV yesterday and told the people not to worry about anything. He stated that the CBI has triple the money in reserves than all the dinar out in the market place. Also, the CBI has instructed all the banks to quit taking the Iranian and Syrian currency and also told the money changers too. The merchants that are still taking it are having to go to Dubai to exchange it. Also, Maliki is meeting with Talabani tonight to discuss the remaining minister positions. It is hoped that they will come up with an agreement on the positions. Also, all the ministers will be swearing an oath tonight to the government of Iraq. They will be placing their hands on their holy book of choice. They will be swearing their allegiance to the government only and not to any other outside group or government. I hope to have more information on the outcome of this meeting that I can share tomorrow. Blessings, Ray Now adding this article from Iraq-Business News, it supports the TV news. Iraq now has over $60 million in foreign currency reserves as a result of the country’s oil sales, according to a report from Azzaman. Mudher Saleh, a consultant with Iraq’s Central Bank, said the reserves are the highest in the country’s history, and are more than enough to cover the total volume of national currency currently in circulation. Saleh made the remarks following a surge in demand for the US dollar, fueled mainly by sanctions on neighboring Syria and Iran, saying the Central Bank was determined to meet demand for dollars. The bank had no problems selling dollars in return for dinars, he added, and this has boosted confidence in the local currency. External trade with the dinar as the currency of choice was on the increase. Trade flow between Iraq and Iran and Syria has skyrocketed recently, according to Azzaman, with Iraq supplying the demand for sanctioned goods. With all this great news, things are looking more positive. Here is yet another positive news article: Sunni Ministers in Iraq Return to Cabinet Published: February 7, 2012 BAGHDAD — Iraq’s Sunni ministers returned to the cabinet on Tuesday, an incremental step that eases the tensions of the country’s political crisis but does not end it, and sets the stage for a national conference to seek a durable solution to a sectarian drama that erupted just as American troops left in December and raised the specter of a civil war. The decision by the ministers for Iraqiya, the parliamentary bloc that includes most Sunni lawmakers, to rejoin the government follows the recent decision by Iraqiya to end its boycott of Parliament. Together, the decisions represent what Sunni officials called good-will gestures, but notably did not come after any public concessions from the Shiite-dominated central government, which is led by Prime Minister Nuri Kamal al-Maliki. The two largest issues that precipitated the boycotts, and exacerbated sectarian tensions by fueling a sentiment of disenfranchisement among the country’s Sunni minority, have not been resolved. Those were an arrest warrant issued for Vice President Tariq al-Hashimi on terrorism charges, and Mr. Maliki’s attempt to fire Deputy Prime Minister Saleh al-Mutlaq for calling Mr. Maliki a dictator in the press. Both Mr. Hashimi and Mr. Mutlaq are Sunnis. But officials said that Iraqiya has since distanced itself from Mr. Hashimi’s case, removing it from the center of the crisis by essentially agreeing with Mr. Maliki to leave it to the courts rather than the political arena. With Mr. Mutlaq, Iraqiya continues to insist that he be allowed to return to Parliament, while officials from Mr. Maliki’s alliance have insisted that Mr. Mutlaq would first need to apologize. A report in the Iraqi press this week suggested that Mr. Mutlaq — who was traveling abroad on Tuesday — had drafted a letter of apology, but several officials, including Hamid al-Mutlaq, an Iraqiya lawmaker who is Mr. Mutlaq’s brother, denied that. The crisis has had the result of weakening Iraqiya — and thereby the foothold of Sunnis on a stake in public life — and strengthening Mr. Maliki’s power, especially among his Shiite base. Not only did Iraqiya end its boycotts of both Parliament and the cabinet without receiving anything tangible in return, some ministers defied the boycott and some members of Parliament have broken away from Iraqiya. Nada al-Juboori, an Iraqiya member of Parliament, described the end of the cabinet boycott as simply a “good step toward holding the national conference.” Even so, Mr. Maliki has not backed away from targeting Sunni lawmakers. This week, the central government sought to lift the immunity of an Iraqiya lawmaker, Haider al-Mulla, which could precede Mr. Mulla being prosecuted for criticizing a judge involved in Mr. Hashimi’s case. The lull in the crisis appears to represent an effort at closed-door reconciliation among Iraq’s three main factions — Shiites, Sunnis and Kurds — to at least paper over their biggest differences and prevent a collapse of the government or worse, a slide in to civil war. President Jalal Talabani, who is a Kurd, recently returned from knee surgery in Germany and has been meeting with leaders to set the parameters for a national conference that could be held in the coming weeks. Meanwhile, an Arab League delegation recently visited Baghdad and agreed that this year’s Arab Summit, which was canceled last year amid the turmoil in the region and concerns about security in Baghdad, will be held here next month. With Syria facing an increasingly bloody revolution and Egypt struggling to secure the promise of Tahrir Square, the gathering — if it is held, and there is plenty of doubt that it will given the region’s uncertainties — would swing the world’s spotlight on Iraq. “It would be a sign of Iraq’s full integration in the world and the region,” said Hosyar Zebari, Iraq’s foreign minister. Mr. Zebari said the upcoming summit meeting has given Iraq’s leaders a new incentive to settle their differences — at least temporarily — so they can show the world a united front. The crisis has extended beyond Iraq’s borders, causing a diplomatic disturbance with Turkey, Iraq’s biggest trading partner. Comments by Prime Minister Recep Tayyip Erdogan of Turkey that were critical of Mr. Maliki’s handling of the crisis “infuriated the Iraqi people,” said Mr. Zebari. Mr. Maliki, meanwhile, has still refused to meet with Turkey’s new ambassador to Iraq, who arrived in December. For the Iraqi people, the crisis has further alienated them from their leaders, whom most regard as corrupt and out of touch with the lives of ordinary citizens. Parliament recently convened to try to pass a $100 billion budget, but delayed any decision. It did, however, pass a law banning smoking in public spaces, which will likely prove difficult to enforce in a country where nearly half of all males are smokers. Some leaders now say that the initial rhetoric following the eruption of the crisis in December, in which many predicted the country would soon devolve in to civil war, was overblown. “I’m still convinced that the sectarian war has ended and won’t return,” said Ammar al-Hakim, the leader of the Islamic Supreme Council of Iraq, a leading Shiite political party. “Those bad years in Iraq won’t return.” ******************************************************************************************************************************** Central Bank Defends Weak Iraqi Dinar Iraq’s Central Bank says it will not allow the Iraqi dinar to depreciate and has been selling hundreds of millions of dollars to keep the currency stable, according to a report from Azzaman. The dinar weakened in December, prompting the bank to sell dollars in a bid to withdraw cash from Iraqi markets. The bank did not say what caused the dinar to plummet to “lows it had not seen for years”, but officials privately say the plunge might have been due to political uncertainty in the region. Mudher Saleh, Central Bank’s deputy governor, said there were no sound economic reasons for the currency’s weakening, but speculated that it might be the economic difficulties Iraq’s neighbours are facing, particularly Syria and Iran. The bank coffers are said to be brimming with hard cash from oil sales. Saleh said the bank would not let the dinar fall and in one day in December last year it sold $200 million on the open market to squeeze liquidity. “We withdrew in one single day about one quarter of a trillion dinars, thereby bringing stability to the currency,” Saleh said. He said Iraqi traders and industrialists have turned into middlemen for these countries, which has led to a substantial growth in demand for hard currency. ******************************************************************************************************************************** Please remain positive and let Iraq finish wrapping things up. Now, when you see the borders closed you know it has happened! Remember, "Silence is golden unless you can improve on it!" I hope you all have a great week and even better weekend. God Bless you all and your families. Steve
  8. *** MERGED TOPICS *** Iraqi parliament calls to stop selling the dollar at auction. Follow-up - and babysit - addressed the Economic Committee in the Iraqi parliament, central bank official, to stop the sale and the dollar auction. Said Ahmed al-Alwani, Chairman of the Committee that the Committee addressed the central bank to stop the sale and auction of the dollar until the issuance of instructions that specify which authorities have the right to deal with hard currency, to ensure that leaked out of Iraq. He added that officials in the Iraqi Central Bank confirmed that they now are developing a new mechanism to participate in bids to buy the dollar, and how they will exchange the dollar and hard currency, and we will follow up this subject first, first in order to preserve the cash reserves of Iraq. The al-Alwani, that the smuggling of currency and a negative impact on the Iraqi economy is bad, and will affect the reserve currency, and the exchange rate of the dinar against the dollar, also has a serious political dimensions. He explained that Iran is suffering from the economic situation is bad because of international sanctions. They are trying by any means compensate for the damage, particularly with regard to foreign currency, and has no outlet other than Iraq, as it considers the influence of a strong field at the political, economic, and even security. He continued, so they are trying to fill the deficit, if there was damage to Iraq, and this can not accept it, and we will stand against all who try to empty Iraq of foreign currency, and will not compromise the country's wealth for the interests of others. And forced Iran after the United States imposed economic sanctions and Europe for the purchase of hard currency from neighboring countries, and most recently Iraq, its openness to the control without security or political or economic, according to observers.
  9. Hard cash reserves ‘more than $60 billion,’ says Iraqi Central Bank By Khayoun Saleh Azzaman, February 2, 2012 The coffers of the central bank brim with hard cash from the country’s oil sales, a senior bank official said. The official, Mudher Saleh, a bank’s consultant, said the country’s hard cash reserves “are more than $60 billion” and are more than enough to cover for the total vlume of national currency currently in circulation. “The Central Bank’s reserves go beyond $60 billion and are the highest in the country’s history,” Saleh said. Saleh made the remarks following a surge in demand for the greenback, fueled mainly by sanctions on neighboring Syria and Iran. Iraqi traders are reported to be cashing in on trade with both countries as demand for Iraq-bound commodities has surged recently. Nonetheless, Saleh said the Central Bank was determined to meet demand for dollars and was aware at the same time of the fact that the surge was mainly due to international restrictions on trade on the two countries. He said the bank’s massive reserves have strengthened the national currency, the dinar, and that external trade with the dinar as the currency of choice was on the increase. Saleh said the bank had no problems selling dollars in return for dinars. This preparedness, he said, has boosted confidence in the local currency. Trade flow between Iraq on the one hand and Iran and Syria on the other has skyrocketed recently. Iraq is the destination for Iranian and Syrian goods while the two countries meet part of their demand for sanctioned goods through Iraq. The Central Bank holds a daily auction of hard cash in which on average $200-250 million dollars are exchanged for dinars every day.\2012-02-02\kurd.htm
  10. Central Bank of Iraq announced the continuation of his policy to cover the market needs of the dollar during the daily currency auction Brother Baghdad Central Bank of Iraq was continuing its policy to cover the market needs of the dollar through the daily currency auction despite growing domestic demand by pressure purchase direct from Syria and Iran, which suffer sanctions are the Iraqi market, the main source of hard currency through trade with them. He praised the Center for Economic Information efficient performing of the Central Bank of Iraq to continue to cover the needs of the market from the dollar to benefit from the reserve currency of the foreign has and who defended him for eight years of repeated attempts to use to cover the budget deficit and the experience has shown that the position of the bank was correct in maintaining this reserve and development through invested in the investment portfolios of a number of European central banks to diversify its resources and making the Iraqi market and local currency experiencing considerable stability could not have been possible without the wisdom of such While the Center hopes to solve regional problems to preserve the wealth of Iraq's foreign currency, it emphasizes the necessity of participation of the executive and legislative protection of Iraq's reserves of foreign currency and not to use any amount to cover the budget deficit, which recognizes each year in amounts high And was concerned about statements by some MPs in the Finance Committee who waved to resort to this reserve to cover the budget deficit, ignoring the basic role played by the reserve for more than 8 years in maintaining the exchange rate and protect the country from the effects of inflationary shocks internal and external, through the control amounts of currency at hand tools in the market through the auction currency and exchange rate which can not be achieved if it was touch and displays the compulsory reserve the Iraqi market to a real risk .
  11. If Iraq does not get their act together, this can and will drag on for who knows how long. It just seems that so many people are obsessed with this investment. Let it play out within the time frame Iraq will do it in. Asking me or anyone else the same question over and over will not make it come any faster. We will continue to share the facts as we obtain them, but between those times, quit chasing the darn thing and just let it come you you when it happens. This should have happened by now, but it has not, so yes, this could go on until something major swings these leaders back in the right direction of the people. It does appear that they are not in a bit hurry, but rather want to do it right the first time. I have read so many comments the past few days as to why it has not happened and I just shake my head and ignore and laugh at them. This is a great investment when it happens, but until then you all need to live for today and keep your faith. Create a plan "B" today to protect and help you for tomorrow now, just in case Iraq does something stupid and it does go south. This is all I can say on the subject. At one point I enjoyed going into chat but every time I do I get hounded and that gets old, so for now I am going to avoid the chat room. At one point in time I was just like most of you, obsessed 24/7 with this, but I had to turn that around before I destroyed my life and accepted that fact that this is 100% out of our control. Sorry if this is not the right answer, I am just being realistic and honest about it. It will happen, no doubt. This is the last time I will share a timeline: This year, yes, tomorrow, no. This month, no. February, maybe. March, would be better odds. My final answer which is absolutely correct is "ANY DAY" because that is what the Iraqi citizens feel and are hearing. It has been any day now for that past month or so and I really do not have a magic ball to define the "any day" concept. Stay positive and keep your faith. I will keep you all in my prayers and quit stressing out over this. Ray and I promise to keep you updated as information come in. Blessings, Steve
  12. Central Bank plans to launch three categories after deletion of zeros from the Iraqi dinar. Baghdad - and babysit - the central bank of Iraq's intention to launch a large three categories after deleting three zeros from the Iraqi dinar, pointing out that the process of replacing the currency will take two years. The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that "the Bank will present three categories in addition to large groups of mineral, after the deletion of three zeros from the Iraqi dinar," noting that "the process of switching would reform the system of currency management and ease of use." Saleh added that "the three categories consist of 200 dinars, which is equal to 200 thousand dinars at the present time and a 100 dinars, which is equal to 100 thousand dinars, and the category of 50 dinars, which is equal to 50 thousand dinars, in addition to the coin of the category of the dinar and Dinarin as well as half and quarter dinars and 100 fils and dirham ". Saleh indicated that "the deletion of three zeros from the Iraqi dinar would shorten the number of banknotes of four billion and paper, which is equal to 30 trillion dinars exist in the Iraqi market to one billion and 800 million paper only," asserting that "the currency exchange will not affect the per capita income or over its wealth or its contractual obligations. " Saleh pointed out that "the Board of Directors has approved the decision to delete the zeros after the completion of designs currency bearing the legacy of Iraq and its history and civilizations, as well as for discussion by the Financial and Economic Committee of the Council of Ministers," noting that "the Bank pending the Board's approval to begin the replacement of the new currency and which must be with the new financial year and proposed by the Bank with the beginning of the year 2013. " Salih stressed that "the process of replacing the currency will take two years to prevent any disruption in the process of delivery and receipt," explaining that "the banks will continue to receive the old currency for ten years as rights and not negotiable."
  13. Financial representative: the possibility to delete the zeros of the Iraqi dinar end of 2013. Baghdad - and babysit - signed by the parliamentary Finance Committee Haitham Jubouri currency to be replaced by deleting three zeros from the end of 2013. He said in a press statement that the process of replacing the currency will be three stages of the first printing of new currency and relegated to the second and third market withdrawal of old currency, adding that he will be the completion of the purchase of equipment printing the new currency in the first half of this year. " He Jubouri: "The Finance Committee was wary of deleting three zeros from the currency and cause an increase of the rate of inflation and exploited in the process of money laundering, but we got assurances scientific specialists in the Central Bank and Cdo that the replacement will support the Iraqi currency against other currencies so that there is a balance between the value in the hands of the citizen with the commensurate with the value of the real exchange rate markets. " He explained: "The replacement of the existing currency will be accurate and thought no need to fear them or of the fraud, because it will print with the latest devices that can not be forged, adding that the process of replacing the currency does not need to be approved by Parliament, but was consulted committees of financial and economic developments in the House of Representatives He received the Central Bank approval. He was adviser to the CBI the appearance of Mohammed Saleh said in a press statement prior to the completion of preparations for the implementation of the project to delete the zeros and the issuance of a new Iraqi currency, in the framework of the currency reform of management system in preparation for the next stage.
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