hammy

Excellent article. There is no way that the new currency is a scam. Look at it this way, when was the last time anyone invested in the Stock Market and your stock broker said " Don't worry, this is a 100% guarantee to earn or at the very least break even"? Has never ever happened to me anyway. I invested in the IQD a long time ago. Before it was even public knowledge so to say. If I chose to, or anyone reading this chose to, could turn right around and sell the dinar that we have and get our money back. This is a NO RISK investment. Think about that, no risk. Yup it's definitely a scam..............BS. Go R.V. and go BIG. That is MHO.

Thursday, February 3rd 2011 8:21 PM Baghdad, Feb. 3 (AKnews) - A government economic adviser called the private banks to merge to provide large amounts of capital that can support the banking sector in the country. Abdul Hussein Al-Anbuge told AKnews that the private banks operating in Iraq are still (family) banks that did not reach the level of the active partnership cash banks in the Iraqi economy. The Iraqi Ministry of Finance confirmed that more than 90% of private banks in the country operate according to distinct monetary controls, indicating that the Central Bank of Iraq (CBI) has succeeded in developing the private banks during the last period. "The advancement of the banking reality in Iraq begins through private banks seek to merge and form strong cash banks that have the ability to develop the banking system in the country." The total capital of Iraqi private banks rose from 30 million in 2004 to one billion and 600 million dollars now, except what is owned by the branches of Arab and foreign banks operating in the country. "Private Banks have sophisticated and modern monetary and banking means, but the main obstacle that we face is the weak capital, making it unable to cope with government banks." The Ministry of Finance announced last May forming a committee to develop and organize the work of private banks in the country. A number of private banks rose from 17 banks in 2004 to 31 banks currently while the number of its branches in Baghdad and other provinces rose from 100 to more than 600 branches to compete in the number and level of services branches of the Rafidain and Rashid Banks. http://www.aknews.com/en/aknews/2/215583/

Posted 03/02/2011 12:00 AM BAGHDAD - Babuz: Council of Ministers approved all the recommendations of the committee formed to develop a mechanism to ensure the protection of Iraq's money. The Minister of State, government spokesman Ali al-Dabbagh said in a statement yesterday, »that the approval included a request from the House of Representatives approved the settlement agreement entered into with the United States regarding the amount of damages of $ 400 million U.S. dollars, and demand from the State Department follow-up to the issuance of the Presidential Executive for the protection of Iraq's money in the U.S. United American «. The statement, carried by the agency Nina «The Senate also included a mandate for the committee from the Ministries of Finance, Foreign Affairs, Office of Financial Supervision and the Central Bank to prepare a report Iraq submitted to the UN Security Council on the first of next May, and the Central Bank of Iraq immediately the process of opening accounts in other banks and transfer money account of the Development Fund of Iraq (DFI) before the date mentioned, and the agreement on the mechanism of specific and transparent, which is deducting a percentage of compensation amounting to 5 percent. " In addition, the Council endorsed also the recommendations of the meeting address the shortage subjects of rice and wheat are the basis in addition to the articles of baby milk, sugar and fat, in order to facilitate securing the ration card items, contained in a memo to the Internal Oversight Service, giving the ministry the power of direct purchase from the origin and formation of a central committee to negotiate Where it is necessary for the materials mentioned, in addition to the ratification of the exceptions required in the Memorandum of Internal Oversight Service in the General Secretariat of the Council of Ministers for the implementation of business architecture for building ziggurat. " Beautiful and Skinner's decisions to ratify the recommendations of the consultants on the subject of research and development system in science, technology and innovation, taking into consideration the opinion of the Legal Committee at the General Secretariat, and to approve the amendment to the Council of Ministers No. 1 for the year 2011, as follows: ownership of the villa numbered (W-5 ) located in the (complex Tigris diplomat) inside the Green Zone to (Embassy of South Korea versus Korea's commitment ownership scheme, a piece of land to Iraq in a convenient location in Seoul to build an embassy in Iraq rather than the object assigned to them previously, and a waiver of Korea plot Kingdom have previously under the agreement between the two countries for the year 1987, and the introduction of Iraq as part of the list of countries covered by the tax exemption. The Council decided to form a technical committee comprising representatives of the two countries to value the price of drugs referred to to be paid in the party that has achieved an increase in price to the other party the difference between the two rates. And authorized the Council and the Minister of Finance to sign an agreement restructuring the debt with the Arab Monetary Fund, in addition to the removal of vehicles modified organisms that will be imported for the National Paralympic Committee of the requirement of punctuation in a car consuming when you register a new car, and approve the exemption of vehicles donated from the American side to the Ministry of Municipalities and Public Works of the condition above as well. http://www.babnews.com/inp/view.asp?ID=34314

Another article on this subject. http://www.aknews.com/en/aknews/4/215528/ This is really a big deal. Hope they can figure this out and quick.

http://62.193.238.61/blueprinttv/gulf-keystone-petroleum/2011-01-14_video_01.php This video is about 10 minutes long. It was posted today in Iraq Oil and Business News website. http://www.iraq-businessnews.com/category/oil-gas/ Click on the first site listed to go straight to the video.

JMHO, It will R.V. to at least what it was worth before they were slapped on the wrist and made to sit in the corner of the World. Their currency was once very valuable and in demand. At least to pre- Kuwait war value. They know what the value of their currency was at one time, they did not forget that. Just as we haven't. Guess we just wait and see for now though.

Well I agree with most of what you said, except for the GO UP QUICKLY part. That will not happen. I promise, it is impossible. Part of the reason for delay is to come out at the highest rate that they can. Read all the articles of their constitution. Once the rate is formed they can only increase by 2% per every 6 months. Whether it is pegged, floating or any other. If it comes out at .10 like some think what is 2% of that? Gonna take 30 years to get to where you would want it. As far as monday goes,....yeah maybe the first or second monday in June of 2011.

That is exactly what I was thinking when I read this. Wants to control it himself. Questioning the constitution and the authority of those in office. Saddam Jr. here we go. I say get him out, and do it soon.

Wednesday, February 2nd 2011 4:54 PM Baghdad, Feb. 2 (AKnews) – A deputy from the al-Iraqiya List led by Ayad Allawi accused on Wednesday the United Nations of interfering in Iraqi affairs following the UN Secretary General in Iraq Ed Melkert’s call to support the recent Federal Court decision that links a number of “independent” bodies directly to the Cabinet. Al-Iraqiya deputy Hani Ashour told AKnews that Melkert’s comments contravene the mission of the UN in Iraq which is to support the country in its democratic foundations and help the Iraqi people without interfering in constitutional and legal details. On Monday, Melkert appealed to the political blocs to respect the decisions of the Federal Court and the right of Parliament to discuss the implications of their decisions, stressing on the need for definition of the independence of institutions and to find a balance between the executive and legislative branches through dialogue. The natural role of the Council of Representatives is to consider the implications of such decisions through dialogue between parliament and the government to agree on the definition of independence,” he told reporters in Baghdad. Ashour said that the UN must promote the convergence of views between the political parties, and not to offer its support to any one faction. What is at stake here, said the al-Iraqiya deputy, is the “independence of the Iraqi institutions according to the constitution”. The Federal Court issued on January 18 a ruling that links a number of independent bodies to the chairmanship of the Council of Ministers and not to the chairmanship of the parliament in response to Prime Minister Nouri al-Maliki’s request to interpret the constitutional article concerning independent bodies. The bodies that the federal court ruling put under the jurisdiction of Maliki’s cabinet include the Supreme Commission of Human Rights, the Independent Higher Electoral Commission (IHEC), the Integrity Commission, the Iraqi Central Bank, the Financial Inspection Office and the Media and Communications committee. "Most of the Iraqi political blocs support the independence of the independent bodies,” Ashour continued, adding that Maliki’s initial request was in itself a breach of the Iraqi constitution as “any decision issued by the Ministers council should be discussed by all the ministers before issuance”. The bill’s opponents say that it reflects the desire of the Prime Minister to control the independent bodies, thus increasing his own power to the detriment of the principles of national partnership upon which Iraq’s foundling government is meant to be founded. (What is Maliki up to? ) The ruling, they say contravenes both articles 103 and 104 of the Iraqi constitution’s chapter IV which clearly state that these bodies are financially and administratively independent and subject to the supervision of parliament which regulates their work according to the law. Reported by Yaser Ali Rn/Ka/AKnews http://www.aknews.com/en/aknews/4/215289/

I hope it all works out for everyone. This is a new Government trying to govern in a New way. If anything can go wrong it usually does. Looking at another article about this the other day the writer didn't think this was so good. http://www.iraq-businessnews.com/category/banking-finance/ Then again these are Mark De Weaver's thoughts. Just as this article is some writers opinion. Parliament and the Cabinet are both too new to know how either one of them will do controlling the C.B.I.

Posted on 31 January 2011. The Undersecretary of the Iraqi Trade Ministry has stated that a new mechanism has been adopted to address the crisis in the distribution of the ration card items, especially with regard to facilitating the contracting process between them and the importing companies. Walid al-Helo told AKnews that the Ministry will work to facilitate the process of contracting with companies, dealers and suppliers of foodstuffs in order to accelerate the distribution of the ration card items during specific periods. “The president of the Council of Ministers agreed to grant full powers to the ministry to contract with traders and companies during the coming period in order to provide food products with good quality and origins”. During his meeting with staff in the Trade Ministry, the Prime Minister Nouri al-Maliki stressed the need to facilitate the contracting process through legal and technical means and remove obstacles that impede the delivery of the ration card items to citizens. The Ministry of Planning and Development Cooperation stated that responsibility for the ration card file will be trasferred from the Ministry of Trade to the Ministry of Labour and Social Affairs in early 2014, indicating that the system hindered the development of Iraq’s economy and the conclusion of international agreements.The Ministry of Trade in Iraq announced earlier it was preparing a comprehensive study to give priority to poor areas in the distribution of ration cards, indicating that the lack of financial allocations delay the delivery of ration card items to the citizens. The delivery of ration card items by the Trade Ministry was delayed this year in most provinces for reasons described as “technical.” The Trade Ministry has developed a new plan that includes withholding ration cards for government employees who earn salaries of more than 1.5 million Iraqi dinars, and it reduced the number of ration card items to four — flour, sugar, cooking oil and rice — according to the ministry’s plan last year. The financial allocation for the ration card in the 2010 budget 3.5 trillion Iraqi dinars (about 2,9 billion dollars), down from 4 trillion dinars in 2009. On Nov. 17, the Trade Ministry stated that it will implement a new plan for the distribution of the ration card items that depend on the income level of the citizens. (Source: AKnews) http://www.iraq-businessnews.com/category/construction-and-engineering/

Some more behind the scenes people. Have you ever heard of "The Club of Rome"? Who's its members? http://www.clubofrome.org/eng/people/default.asp Very influential people behind the scenes that you never ever here about. What are they all talking about?

I believe when you here more from this man when it comes to Iraq you will start to see some things happen. You have IMF, WBI, WTO, and World Governments involved but there are also some powerful people behind the scenes, for example this guy. http://www.elhassan.org/public/mainEnglish.aspx?Lang=3&Page_Id=698&page_id2=1149 http://www.myspace.com/princehassanofjordan VERY VERY influential person to watch. High roller that has VERY strong influence that is way, way behind the scene. Edit: Spelling

Sorry last post was kind of a long read. This site is fun to run around on. http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberKey1=460&date1key=2011-02-02

Well the last few posts were a waste. Keep em walkin funny, no matter what they R.V. at they can't cover it. Not right now. Even if it R.V.s at $0.10 cents. So what you are saying is they can't R.V. as long as we have some of their currency locked away in a closet somewhere? World contracts and demand for their Oil = Demand for their Currency. You are not one of those Idiots who thinks that it will come out at pennies on the USD are you? Did you read the Iraqi Constitution? Do you know what the IMF has to say about a country raising its currency value? Or the World Bank? I suggest you read a couple statutes and articles from some of these institutions. Or at least read this "Crib note" short version. What Is an Exchange Rate? An exchange rate is the rate at which one currency can be exchanged for another. In other words, it is the value of another country's currency compared to that of your own. If you are traveling to another country, you need to "buy" the local currency. Just like the price of any asset, the exchange rate is the price at which you can buy that currency. If you are traveling to Egypt, for example, and the exchange rate for U.S. dollars 1:5.5 Egyptian pounds, this means that for every U.S. dollar, you can buy five and a half Egyptian pounds. Theoretically, identical assets should sell at the same price in different countries, because the exchange rate must maintain the inherent value of one currency against the other. Fixed Exchange Rates There are two ways the price of a currency can be determined against another. A fixed, or pegged, rate is a rate the government (central bank) sets and maintains as the official exchange rate. A set price will be determined against a major world currency (usually the U.S. dollar, but also other major currencies such as the euro, the yen or a basket of currencies). In order to maintain the local exchange rate, the central bank buys and sells its own currency on the foreign exchange market in return for the currency to which it is pegged. (To learn more, read What Are Central Banks? and Get To Know The Major Central Banks.) If, for example, it is determined that the value of a single unit of local currency is equal to US$3, the central bank will have to ensure that it can supply the market with those dollars. In order to maintain the rate, the central bank must keep a high level of foreign reserves. This is a reserved amount of foreign currency held by the central bank that it can use to release (or absorb) extra funds into (or out of) the market. This ensures an appropriate money supply, appropriate fluctuations in the market (inflation/deflation), and ultimately, the exchange rate. The central bank can also adjust the official exchange rate when necessary. Floating Exchange Rates Unlike the fixed rate, a floating exchange rate is determined by the private market through supply and demand. A floating rate is often termed "self-correcting", as any differences in supply and demand will automatically be corrected in the market. Take a look at this simplified model: if demand for a currency is low, its value will decrease, thus making imported goods more expensive and stimulating demand for local goods and services. This in turn will generate more jobs, causing an auto-correction in the market. A floating exchange rate is constantly changing. In reality, no currency is wholly fixed or floating. In a fixed regime, market pressures can also influence changes in the exchange rate. Sometimes, when a local currency does reflect its true value against its pegged currency, a "black market", which is more reflective of actual supply and demand, may develop. A central bank will often then be forced to revalue or devalue the official rate so that the rate is in line with the unofficial one, thereby halting the activity of the black market. In a floating regime, the central bank may also intervene when it is necessary to ensure stability and to avoid inflation; however, it is less often that the central bank of a floating regime will interfere. The World Once Pegged Between 1870 and 1914, there was a global fixed exchange rate. Currencies were linked to gold, meaning that the value of a local currency was fixed at a set exchange rate to gold ounces. This was known as the gold standard. This allowed for unrestricted capital mobility as well as global stability in currencies and trade; however, with the start of World War I, the gold standard was abandoned. (For more on the gold standard, see The Gold Standard Revisited.) At the end of World War II, the conference at Bretton Woods, an effort to generate global economic stability and increase global trade, established the basic rules and regulations governing international exchange. As such, an international monetary system, embodied in the International Monetary Fund (IMF), was established to promote foreign trade and to maintain the monetary stability of countries and therefore that of the global economy. (For further reading on the IMF, see What Is The International Monetary Fund?) It was agreed that currencies would once again be fixed, or pegged, but this time to the U.S. dollar, which in turn was pegged to gold at US$35 per ounce. What this meant was that the value of a currency was directly linked with the value of the U.S. dollar. So, if you needed to buy Japanese yen, the value of the yen would be expressed in U.S. dollars, whose value in turn was determined in the value of gold. If a country needed to readjust the value of its currency, it could approach the IMF to adjust the pegged value of its currency. The peg was maintained until 1971, when the U.S. dollar could no longer hold the value of the pegged rate of US$35 per ounce of gold. From then on, major governments adopted a floating system, and all attempts to move back to a global peg were eventually abandoned in 1985. Since then, no major economies have gone back to a peg, and the use of gold as a peg has been completely abandoned. Why Peg? The reasons to peg a currency are linked to stability. Especially in today's developing nations, a country may decide to peg its currency to create a stable atmosphere for foreign investment. With a peg, the investor will always know what his or her investment's value is, and therefore will not have to worry about daily fluctuations. A pegged currency can also help to lower inflation rates and generate demand, which results from greater confidence in the stability of the currency. Fixed regimes, however, can often lead to severe financial crises since a peg is difficult to maintain in the long run. This was seen in the Mexican (1995), Asian (1997) and Russian (1997) financial crises: an attempt to maintain a high value of the local currency to the peg resulted in the currencies eventually becoming overvalued. This meant that the governments could no longer meet the demands to convert the local currency into the foreign currency at the pegged rate. With speculation and panic, investors scrambled to get their money out and convert it into foreign currency before the local currency was devalued against the peg; foreign reserve supplies eventually became depleted. In Mexico's case, the government was forced to devalue the peso by 30%. In Thailand, the government eventually had to allow the currency to float, and by the end of 1997, the Thai bhat had lost 50% of its as the market's demand and supply readjusted the value of the local currency. (For more insight, see What Causes A Currency Crisis?) Countries with pegs are often associated with having unsophisticated capital markets and weak regulating institutions. The peg is therefore there to help create stability in such an environment. It takes a stronger system as well as a mature market to maintain a float. When a country is forced to devalue its currency, it is also required to proceed with some form of economic reform, like implementing greater transparency, in an effort to strengthen its financial institutions. Some governments may choose to have a "floating," or "crawling" peg, whereby the government reassesses the value of the peg periodically and then changes the peg rate accordingly. Usually this causes devaluation, but it is controlled to avoid market panic. This method is often used in the transition from a peg to a floating regime, and it allows the government to "save face" by not being forced to devalue in an uncontrollable crisis. Conclusion Although the peg has worked in creating global trade and monetary stability, it was used only at a time when all the major economies were a part of it. And while a floating regime is not without its flaws, it has proved to be a more efficient means of determining the long-term value of a currency and creating equilibrium in the international market.

Perfect, Brain Dead moment for example. Obama passed a law April 21st 2010. Saying that he is going to create over 2500 new jobs in the country, in the E.P.A. alone. By passing a law that says any home built before 1978 could have lead paint in it so we'll have these new E.P.A. code enforcement positions available. Great. Then reality sets in and a Contractor now has to become Lead Certified to work in homes built before 1978 and it cost him Thousands of dollars per employee to become certified. So He Does Not become certified and realizes that when he gets caught working on that home it is a $32,500.00 Fine. Yes Thirty Two Thousand Five Hundred dollars. over 9500 contractors nation wide have lost their businesses. BRAIN DEAD.

Well I am an American, A Voter, A tax payer, and someone who knows there is a time for war and a time for peace. Proud of our troops, all of them. Also a realist. All of our Presidents have been Brilliant and Brain Dead, sometimes in the same day. This post was well thought out and very well written. Don't think it needs to be closed out, possibly moved though.

Getting all their ducks in a row.

Really, so free speech is out with you? Just wondering how you really feel about good Ole G.W.B. you have never bad mouthed him have you? Or any President in office? Hard to believe.

I can only give you +1 but it was a +10 in my book. The TRUTH will set you free, we have all heard that statement. Very few have heard it the way Benjamin Franklin said it " The Truth that you know will set you free,......But it will hurt you first." Spit blood G.W.B. was right. Edit: They may move this post. Not really news.

13 million barrels a day. How much is that worth? Go R.V. Great post btw.

48 people reading this right now. How bout that.

People I talk with are very educated, very informed. Iraq has a TRUMP card that it can always play...........= OIL. Plain and simple. Don't forget that the Iraqi Dinar was valued over $3.00 USD TWENTY YEARS AGO! How stable were they then? Go look at the history. NOT to stable. Factor in TRUMP card OIL. They are so much more ahead of the game now than they were 20 years ago. They are now ............so to say........"Playing Ball" with everyone in the world..nicely I might add. Keep the faith everyone, we are so, so close I can smell it. AHHHHHHHH smells like PROFIT.

I am not an expert by any means but I have friends who ARE. Not wishful thinking at all. Think about it people, pre Saddam value is not unreasonable. That rate was based on an economy of more than 20 years ago. With inflation over the past 2 decades factored in, it may be higher. Everyone says well this is Iraq, they are poor people, they have an unstable economy, blah - blah- blah.... Well it was Iraq 20 years ago, they were just as poor and as far as I know was ALWAYS unstable. Just my point of view, for what it's worth.

Most Importantly is Reserves, and the demand for them it will certainly Trump all others. Factors Affecting Currency Value: 1. Political Conditions in the Country - This includes the stability of the government, the amount of corruption, bribery and the degree of law and order. Also includes a country's relationships with other countries and especially their relationship to US, UK, China and Russia. The form of government in the country is also a factor used to assess the value of a currency. Consider the widely varying forms of government in Saudi Arabia, China, UK, Venezuela and Thailand, just to name a few. 2. Economic Situation - This includes factors such as jobs, unemployment, work ethic, infrastructure, inflation and direction of the economy. Is it older or newer in orientation; computers and high tech, or more farming and manufacturing. 3. Perception from Outside - The perceptions and attitudes of other countries toward a country are as important as the reality of the country's actual situation. News, media, movies, newspapers, rumors and spin can create perceptions. How much is known about a country? The less that is known, generally, the lower the value of a currency. 4. Demographics - A young population may mean better prospects for the future, people who are more open to change and development and a growing size of the workforce. The overall population of a country is a factor. How much weight does this country have on the world scene. 5. National Leaders - The openness, trustworthiness and like-ability of visible leaders is a factor. This includes political leaders, sports figures, business owners and celebrities. Here are some national figures who affect their countries, either for better or for worse. Kim Jung Il, David Beckham, Nicole Kidman, Madonna, Osama bin Laden, Barack Obama and Vladimir Putin. These help form the world's perception of a country. 6. Isolation versus Openness - Continuum China is becoming more open, more transparent. This helps. Cuba is very closed and isolated. Venezuela is becoming more isolated by some of its recent actions. China's markets are becoming more open. Cuba, Kyrgyzstan, Russia and Japan, all have differing levels of openness with the outside world, which affects the value of their currency. 7. Natural Resources - The kind of and amount of exploitation of a country's natural resources certainly helps create a perception of value, or lack thereof, of a country's currency. Mining of minerals, forests, oil, fish and other resources are considered. Also the level of technology to development these resources. 8. Weather Factors such as drought, tsunamis, earthquake and floods are taken into consideration. How frequent are they and how is the country's response to them. These also affect desirability, safety and perception of a country. Is it a tourist destination? 9. War and Conflicts - With which other country is a country at war, and who is it's allies? Their military strength and technology, their willingness to go to war and for what, are important factors in assessing a country's strength, stability and the value of its currency. 10 . Education - This includes languages spoken, level of computer know-how, Internet connectedness, culture and religion. Scientists, entrepreneurs, authors and inventors are all affected by the type and quality of education in a country.