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bostonangler
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Posts posted by bostonangler
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I'm not sure... There have been news articles stating there is demand for the local currency and the value is on the rise... After all these years of watching this I'm beginning to believe we are going to see small moves....
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- US Dollar Iraqi Dinar
Prev. Close1,164.53Bid1,136.30Day's Range1,159.25 - 1,164.53Open1,164.53Ask1,182.2052 wk Range1,140.25 - 1,182.151,159.25-5.28 (-0.45%)
USD/IQD OverviewLoadingUSD/IQD 1,159.25 -5.28 (-0.45%)12:0014:0016:0018:0020:001,159.001,160.001,161.001,162.001,163.001,164.001,165.001,166.00E1,159.25Last update: 2013-07-01 20:10:22Prev. Close1,164.53Bid1,136.30Day's Range1,159.25 - 1,164.53Open1,164.53Ask1,182.2052 wk Range1,140.25 - 1,182.15B/A -
ISX to Partner with NASDAQ; Mid-Year 2014
Posted: June 29, 2013 in Iraqi Dinar/Politics
Tags: Baghdad, Iraq, Iraq Stock Exchange, iraqi, middle east, NASDAQ, Security (finance), Stock market
Iraqi market for securitiesIraqi market for securities uses Bnazdak to make it a financial center on the regional and global level06/29/2013 16:07
The Foundation signed a NASDAQ Global Market, on Saturday, an agreement with the Iraqi market for securities to develop the system work in business dealings, and showed institution that the agreement includes replacement of the stock market Iraqi its system current ones will make it a platform for stock trading fast and sophisticated at the global level, as confirmed by local officials that partnership with the NASDAQ will make Iraq a financial center for all commercial activities of regional and global markets.
He said the first deputy chairman technology stock market in an institution NASDAQ Lars Ottarsgard in an interview for إنفستر news economic and briefed him (range Press), “The Corporation NASDAQ NASDAQ Global Stock Exchange and headquartered in New York and signed with the Iraqi market for securities ISX agreement to develop the system work the Iraqi market, the current business dealings and congratulate the Iraqi stock market on their pledge to develop their commercial system to occupy their place at the forefront of the market based on modern technology in the Middle East
He Oter Sgaard that “according to the terms of the agreement Vstqom stock market Iraqi replace its system of current ones backed technology company X-Stream X-Stream Technology of the NASDAQ, as will be the introduction of developments technological modern stock market in mid-2014,” noting that “the updates that Stdkhalha technology X Stream on the Iraqi stock market system will make it a platform for business transactions fast and sophisticated, which will increase to attract investors in the Middle East and the global level. “
For his part, said Michelle Carlson, head of business development for the Middle East and North Africa in the NASDAQ “We are very proud بتقديمنا Technology X-Stream modern to support the development of the stock market of Iraq to become a market recognized brand in the region and be the station to attract investors to local and international alike.”
In turn, the director of the Iraqi market for securities Taha Abdul Salam said that “the market’s administration is committed to making it one of the most bourses Tjaddeda and active in the Middle East and across the world,” noting that “the modernization and development of the system our commercial technological with the survival of our continuing partnership with the NASDAQ is a clear indication for investors The stock market dealers that Iraq will continue to be the financial center of all activities of regional and global trade. “
He said Abdul Salam that “the process of modernization and according to the technology company X-Stream X-Stream will provide the Iraqi market for securities most modern techniques of technology stock trading in accordance with the international standards and the adoption of this technology is a step in an ambitious market Iraqi Stock Exchange to become a point of attraction in the Middle East capable of hosting and facilitate other regional Alasouk activities. “
During a period of less than ten years the proportion of stock trading business in the Iraqi Stock Exchange tenfold expectations of sales of shares to more than $ 1.2 billion during the year 2013 while the increased market capitalization seven-fold during the same period to reach more than 12.170 billion dollars in the first six months in 2013 only.
The technology NASDAQ X-Stream currently used in more than 25 exchange in the world market.
And the market for securities Iraq three branches in Baghdad and Erbil, Najaf and the latter opened in the seventh month of January 2013.
It is noteworthy that the Iraqi market for securities, which was established in June 2004, which was founded and was following a manual trading prior to the adoption of electronic trading in part on 19 April 2009, and then fully in the year 2010, and traded in the market dozens of companies specializing in sectors including banking, industry , hotels, tourism, agriculture, and the number of sessions the market in the year 2010.236 session, during which trading of more than 256 billion shares worth more than $ 339 million through the implementation of 71 thousand a decade, and in 2009 the number of sessions the market 152 a session, it was a circulation of about 211 billion shares valued at 307 million dollars through the implementation of the 49 thousand contract.
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This is how it starts my friends... First the news... Then the outside world gets wind of it... Then people start to believe there may be something to this... Then the big boys move in and take all they can get... The only difference this time is that little folks like us got in from the beginning and will enjoy the fruits of their greed... GO RV!!!!!!
Baby steps are alright with me... This may take a minute but as you've just read, it is going up!!!
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After Iraq emerged from provisions of CH VII, IQD exchange rate soars against USD; Anticipates continues rise with confidence
Posted: June 28, 2013
29-06-2013Hours after Iraq concludes from the provisions of Chapter VII, the exchange rate of the Iraqi dinar soared against the dollar.
As a member of the Association of private banks Saif Al hilfi, “Iraqi dinar exchange rate against the dollar has seen a return to normal levels after Iraq output resolution of the provisions of Chapter VII.”
John said in an interview for (News Centre for the Iraqi media network): “the rate of the dinar against the dollar stabilized at 1210 dinars per dollar,” pointing out that the coming days would witness continuous rise of the Iraqi dinar value.
and John explained that override the provisions of Chapter VII a huge benefit, and that everyone has confidence in Iraqi dinar, Iraq has large financial reserves.
The next phase will witness a new investment trend is popular companies and investors and citizens to invest in the Iraqi dinar, stressing that the economic scene readings indicate a significant demand for the dinar will contribute to raising the price paid to foreign currencies.
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After the disposal of the international provisions increase in the value of the Iraqi dinar
29-06-2013
Hours after rid Iraq of the provisions of Chapter VII of money, saw the exchange rate of the Iraqi dinar rise against the dollar.
According to a member of the Association of private banks Hilfi, the sword, “the Iraqi dinar exchange rate against the U.S. dollar saw a return to a normal pace after the decision to remove Iraq from the provisions of Chapter VII.”
Hilfi said in an interview (Center Brief for the Iraqi Media Network): “The rates of the dinar exchange rate against the dollar stabilized at 1210 dinars per dollar,” pointing out that the coming days will witness a rise continuously to the value of the Iraqi dinar. And ills Hilfi so that the bypass provisions of Chapter VII gain large, and everyone became confident in Iraqi dinars, especially in light of the large financial reserves of Iraq.
He added that the coming stage will witness a new investment-oriented is turnout companies and investors and citizens to invest in the Iraqi dinar, stressing that the economic landscape readings indicate the presence of a great demand for the dinar will contribute to raising the exchange rate against foreign currencies.
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5-12-13 Okieoilman: I HOPE ALL YOU WONDERFUL MOTHERS WERE REALLY HONORED TODAY. MOST OF YOU DESERVE IT. I KNOW MY MOTHER HAD HER HANDS FULL WHEN I WAS JUST A TAD-POLE. I THINK SHE MUST HAVE HAD THE PATIENCE OF JOBE.
I HAVE NOT POSTED FOR SEVERAL DAYS BECAUSE OF THE IN-CORRECT RUMOR MILL THAT HAS PREVAILED AND HAVE WAITED FOR CONFIRMABLE INFORMATION. MY PROBLEM AS WELL AS OTHER MESSENGERS IS THAT AS SOON AS THE INFORMATION WAS PRESENTED US AND WE SHARED IT—–IT CHANGED.
HAVING BEEN IN THAT POSITION MANY TIMES BEFORE I AM OF THE MOST CONSERVATIVE NATURE NOW THAN EVER BEFORE. WE CAN REPORT THAT THE ACTIVITY LAST WEEK AFTER CONFIRMATION WAS AS PROGRESSIVE AS WE COULD EVER HOPE FOR AND I AM VERY ANXIOUS TO SEE WHAT PANS OUT THIS COMING WEEK.
WE HAVE NEVER BEEN THIS CLOSE BEFORE (EVER HEARD THAT BEFORE).
BUT THIS TIME IT IS TRUE. IF THERE ARE ANY MORE DELAYS OR ISSUES PREVELANT –AT THIS TIME I AM UNAWARE OF THEM. I WILL ONLY POST HENCEFORTH WHAT IS PROVEN FACT AND NOT CONJECTURE OR OPINION.
I AM ON A HIGH STATE OF ALERT PRESENTLY. I AM MOST ANXIOUS TO MAKE THE FINAL POST ANNOUNCING TO THE DINARIANS THAT AS BOB BARKER USED TO SAY–(COME ON DOWN).
I HAVE INTEL COMING IN TODAY THAT I AM AWAITING CONFIRMATION ON AND IF IT IS TRUE—-WE WILL (COME ON DOWN).
I UNDERSTAND AFTER TODAY THERE ARE SOME VERY WEALTHY SENATORS, AND CONGRESSMEN.
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Tic Toc Tic Toc.. . .. . . One more day. . . . Hopefully he'll be the next fly to drop. . . . .
Franks quote from the 22nd of March....
"WE KNOW THE BUDGET WILL BE IN THE GAZETTE THIS WEEK AS WAS ANNOUNCED TODAY BUT APRIL 1ST WILL BUST THIS BUDGET OPEN LIKE A PINATA. THE CANDY IS AN INCREASE IN THE VALUE OF THE IQD."
Read more: http://dinarvets.com/forums/index.php?/topic/144523-frank-we-have-no-choice-but-to-see-the-rate-this-coming-week/#ixzz2P7UqRvMrB/A
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MAN THIS IS GETTING BETTER BY THE DAY
It woould better if all these gurus would shutdown and SHUT UP!!!!
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I WILL SHUT THE DOORS TO another site IN THE NEXT FEW HOURS OR TOMORROW…Blaino: I WILL SHUT THE DOORS TO another site IN THE NEXT FEW HOURS OR TOMORROW…. WE ARE VERY CLOSE TO RV, WE HAVE BEEN HERE BEFORE. ON THE CHANCE THAT WE ARE ABANDONED AT THE ALTAR AGAIN, I HAVE MADE A DECISION TO FORWARD A PLAN THAT WILL SOLVE THE SHORT TERM CASH FLOW ISSUES OF THOSE CITIZENS OF another site THAT ARE INTERESTED IN PARTICIPATION. NO, I WILL NOT ANSWER QUESTIONS AT THIS TIME.
ALL THE DETAILS AND INFORMATION WILL BE FORTHCOMING AS TIME AND CIRCUMSTANCES ALLOW. THERE ARE JUNCTURES OR WAY POINTS IN THIS ARRANGEMENT AND AT EACH ONE, THE PLAN COULD TERMINATE. IN THE EVENT WE ARE SUCCESSFUL IN OUR ENDEAVOR, I WILL RESTRICT PARTICIPATION TO ACTIVE MEMBERS OF PLANET.
THEY SUPPORTED US. WE WILL support THEM. I EXPECT TO COMMENCE DISBURSEMENT INSIDE OF 10 DAYS, ALTHOUGH THAT DATE IS SUBJECT TO COMING FORWARD OR PUSHING BACK A FEW DAYS EITHER WAY. NOT…. NOT INTERESTED IN ANY 30 TO 60 DAY PROJECT! BUCKLE UP, THIS IS ABOUT TO FLY!Sorry but it was too funny!!!!
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Big news coming out lately... Kerry arriving today. The Kuwaitis coming in April. Budget done and approved... IMF moving to Article 8... And now this story... It seems things are moving really fast toward some kind of an end.... Perhaps this investment will actually turn out to be "The Real Thing"
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But I had to bring this chat to you guys... Now before I paste this let me first say I read mostly news articles and the ocassional GURU for entertainment... And there are a few that are very good at their trade of expressing but there may not be any better than Frankie and today's ranks amonst the best.... Here goes I hope you enjoy this one, I know I did....
3-23-13 Frank26: Article: “IMF mission concludes Article 4 discussion with Iraq”
Article 4 is the key to their shackles, Chapter 7. In the last 10 days the IMF met with the GOI and the CBI. They accepted everything presented to them to have approval to raise the value of their currency. This was the key to their shackles, it’s called Article 4. The IMF needed 85% of its members to raise their hands and say they allow Iraq to increase their exchange rate and the got it. They now exit from, from the IMF, Article 14, accepted through Article 4, to enter International status of Article 8.
They got the green light to lift the value of their currency. It’s done. Article 4 is the permission to raise the value of their currency and they are about to do that next week through their budget and the following week Kuwait is coming to say “congratulations” here is the key to Chapter 7.
We have been looking today for an extension of the Standby Agreement. There isn’t any. They have entered the one way street to revalue their currency. They’ve got the green light. This is huge. Now, it’s up to Iraq to follow through within 30 days, 30 days or less. If not in 30 days, it kicks in anyway. It’s a one way street. Iraq has the green light to allow them to release the rate & we believe that it will be done in the budget sometime next week, possibly even this coming Sunday.
3-23-13 Frank26: Article: “IMF mission concludes Article 4 discussion with Iraq”
Article 4 is the key to their shackles, Chapter 7. In the last 10 days the IMF met with the GOI and the CBI. They accepted everything presented to them to have approval to raise the value of their currency. This was the key to their shackles, it’s called Article 4. The IMF needed 85% of its members to raise their hands and say they allow Iraq to increase their exchange rate and the got it. They now exit from, from the IMF, Article 14, accepted through Article 4, to enter International status of Article 8.
They got the green light to lift the value of their currency. It’s done. Article 4 is the permission to raise the value of their currency and they are about to do that next week through their budget and the following week Kuwait is coming to say “congratulations” here is the key to Chapter 7.
We have been looking today for an extension of the Standby Agreement. There isn’t any. They have entered the one way street to revalue their currency. They’ve got the green light. This is huge. Now, it’s up to Iraq to follow through within 30 days, 30 days or less. If not in 30 days, it kicks in anyway. It’s a one way street. Iraq has the green light to allow them to release the rate & we believe that it will be done in the budget sometime next week, possibly even this coming Sunday.
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IMF Approves Seven-Month Extension of Stand-By Arrangement for Iraq
Press Release No. 12/286
August 3, 2012
The Executive Board of the International Monetary Fund (IMF) approved on July 20, 2012—on a lapse-of-time basis1—a seven-month extension of Iraq’s Stand-By Arrangement (SBA), to February 23, 2013.
The SBA had been scheduled to expire on July 23, 2012. The extension, which had been requested by the Iraqi authorities, will provide them with time to implement the policy measures needed to complete the combined third and fourth reviews under the SBA. The extension will, in particular, provide time for discussions on fiscal policies for the remainder of 2012 and on measures to improve the functioning of the exchange regime.
The two-year Stand-By Arrangement (SBA) in the amount of SDR 2.38 billion (about US$3.58 billion), was approved by the IMF's Executive Board on February 24, 2010 (see press release 10/60). The IMF's Executive Board completed the first program review on October 1, 2010 (see press release 10/373), and the second review on March 18, 2011 (see press release 11/90). At the time of the second review, the program duration was extended by five months to July 2012, along with a rephasing of program disbursements based on a shift in financing needs. Total resources currently available to Iraq under the arrangement amount to the equivalent of SDR 1307.24 million (about $1.96 billion).
1 The Executive Board takes decisions under its lapse of time procedure when it is agreed by the Board that a proposal can be considered without convening formal discussions.
http://www.imf.org/external/np/sec/pr/2012/pr12286.htm
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Hope I'm wrong. But I have this gut feeling the the Fed cannot afford to see Iraq released from Chapt 7 sanctions. The Fed cannot pay off Iraq because they have loaned out Iraqi money to the world. Including the US tax payors money 16 Trillion +. Just a feeling I've had for a while. Again I say; "Hope I'm wrong"
Thx Yota!
I'm afraid to say this is the most logical explanations for what is going on with Iraq and their (our) money. I can see how our government would have set this up when Bush invaded Iraq and planned to pay for the war plus a lot more... But as we've seen our government leaders can't even pull up their own pants never mind fix the world's problems. I have been very optimistic about this investment until reading this news story. If this is how Iraq's money is being dealt with, by the crooks in our government or even worse the banksters at the Fed, then I believe we are screwed. If they are in control, they will get their piece of the pie and leave us the small investors with an empty pie plate.... Good luck and hold until the end my friends, but this news has truely brought me DOWN!!!!!
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United Nations recognizes Iraq's commitment to international resolutions
12/16/2012 12:00 am
Moon: for Iraq and Kuwait opportunity to announce a new collaboration
BAGHDAD - A follow-up morning
Confirmed the Secretary General of the United Nations Ban Ki-moon's commitment to Iraq its international obligations, but he is no longer directing the country quickly from Chapter VII. Comes at a time announced a UN that the year 2015 will see the closure of the file of compensation after commitment Baghdad all its obligations. Confirmed moon said in front of Iraq and Kuwait historic opportunity to renounce the past and move forward towards a new ad of cooperation, stressing United Nations full support normalization and coordinate their relations. considered moon in a report to the Security Council on Tuesday evening (Friday) that the next few months is a "period of confidence-building" for Iraq and Kuwait to settle outstanding issues between them, adding that he could "during the next six months that depends both sides to support the United Nations full for normalization and coordinate relations between them." and revealed the Kuwaiti Prime Minister's "Center Brief for the Iraqi Media Network," the week before last, went Iraq and Kuwait to sign agreements bilateral task between the two countries this month, saying: "I am honored to visit Iraq this month, and will send the visit an important message that that Kuwait did not have any problems with the Iraqi people, but was with the former regime has gone," he "should forget the past and embark on a wide space, and our duty to forget the past and look to the future, and there is no other way but to join forces between the two countries and the two peoples brothers. "is due to be holding talks" significant "between Prime Minister Nuri al-Maliki and blessed. Regarding efforts by Baghdad in this regard, said Secretary General of the United Nations: "I believe that Iraq has shown intentions good in relation to the issue of missing persons." Regarding compensation, said Secretary General of the United Nations: "The Board of Directors of the Compensation Committee of the UN noted Iraq's commitment to fulfilling its obligations." and expressed that appreciation continued to the Government of Iraq and the Committee of Financial Experts Iraqi for their continued cooperation with the Compensation Committee.
http://www.alsabaah.com/ArticleShow.aspx?ID=40826
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I'm beginning to think and this is just my opinion, that all this turmoil is the smoke I've heard about for the past three years. It seems there would be much more outcry from the IMF, World Bank and UN if one of the world's most influential bankers involved with one of the most important developing economys was suddenly taken out of power. There has been very little said about Shabibi, yet the news is filled with agreements being reached on the HCL, Chapter 7 and replacing worn out small denominations with new bills. It seems that they are really trying to drive away anyone who is interested speculating on the dinar. It just feels like something is coming and it will arrive without warning... It is too weird how all this is happening in the news and yet no one on the world stage is saying anything... Perhaps it is the quiet before the storm...
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"Announced the retirement fund Iraqi journalists raise the salaries of retirees in the fund to 125 dinars a month / about $ 100"
Heck I'll take $100 per 125 dinar all day long!!!! I'm just saying....
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Sorry if this has been posted........
New currency will begin printing as of Sept 2012 or as early as June; Issued in Jan 2013
Posted: May 19, 2012
Baghdad 15/5/2012 3:47 PM
Iraqi parliamentary sources said that printing new Iraqi currency will start early next month of June will be replaced with the currency and delete zeros of which will be the beginning of next year 2013.
The parliamentary Finance Committee on Tuesday that the deletion of zeros and replacing Iraqi currency September early January 2013, as pointed out it will start printing the new currency in various categories in September.
A member of the Finance Committee Haitham Jubouri that “the month of January of next year 2013 will see the deletion of three zeros and the replacement of the currency,” adding that “as of next September 2012, will be the direct printing of new currency in different categories.”
The Jubouri that “the process of replacing the old currency will continue to a full year to be the withdrawal of the old in full within the first six months of the year 2014,” noting that “delete three zeros and replace it from would be afterbirth on the stability of the Iraqi currency and reduce the demand for hard currency.“
He Jubouri that “the Iraqi Central Bank dispelled all concerns relating to money laundering and forgery during the process of replacing the old currency El Jadida,” explaining that “a device has a special anti-money laundering.”
The Jubouri that “the reform of the currency management from the heart of the Central Bank and the deletion of zeros is a function of the strategy,” stressing that “the Finance Committee of the Parliament supports the policy of the Iraqi Central Bank in this direction.”
And the General Secretariat of the Council of Ministers, on April 12, 2012, a decision to wait in the application of the process of removing zeros from the national currency, which had to stop all procedures relating to the operation mentioned until further notice.
According to some economists that Iraq is ready for the time being to delete the zeros of the Iraqi dinar, pointing out that this step you need to stabilize the security and political, as well as economic stability.
The Central Bank of Iraq announced, in January 2012, its intention to put a big three categories of the Iraqi dinar, including 200, 100 and 50 dinars after deleting three zeros from the currency, while pointing out that the process of replacing the currency will take two years.
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Sorry Leggman I thought I quite clearly stated this is NOT my opinion. This was someone's piece I found on another site. Although I do not agree I think it is important for anyone to hear all sides. You are right, this is an opinion piece and there are no facts to back it up. I guess that's why they call it an opinion. Perhaps you like it better when the yahoos tell you it's going to RV at 5, 6, even 42 dollars. Honestly I'm glad to have put a small amount into an investment that still to this day at least, I can sell back if I need the money. It sure beats holding on to ERON stock!!!
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This was found on another site. I apologize if it's been posted. This is NOT my opinion, but we should consider all sides... GLTA
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May 14th, 2012 10:30 pm ·
AS YOU KNOW I’M NOT INTERESTED IN POSTING & HAVE NEVER BEEN INTERESTED AS A SO CALLED GURU BUT BASED ON WHAT I’VE BEEN TOLD RECENTLY I FEEL AT THE VERY LEAST YOU MIGHT WANT TO POST THIS AS AN ALTERNATE OPINION FOR PEOPLE WHO ARE REALLY HURTING & COUNTING ON THIS CAN CONSIDER.
I WISH TO REMAIN NAMELESS AS I AM NOT ON ANY SITES OR A SO CALLED GURU, I HAVE NO INTEREST IN BEING THE 1ST TO PREDICT WHAT WILL HAPPEN IN IRAQ OR WITH THE DINAR BUT FEEL THE NEED TO SHARE INTEL I’VE RECEIVED OVER THE PAST FEW MONTHS FROM EXTREMELY KNOWLEDGEABLE SOURCES THAT NOT ONLY MAKES AS MUCH SENSE AS ANY OTHER INFORMATION WE HAVE BEEN FED OVER THE YEARS BUT IS EVERY BIT AS POSSIBLE THAT HAS RECENTLY OPENED MY EYES TO WHAT APPEARS TO SHED SOME LIGHT ON WHAT WE ALL ORIGINALLY THOUGHT WAS A GREAT ONCE IN A LIFE TIME INVESTMENT THAT MAY HAVE A DARK SIDE.
I HAVE BEEN ON THIS CRAZY TRAIN FOR OVER 5 YEARS AND WAS A VERY STRONG BELIEVER THAT THE DINAR WOULD EVENTUALLY RV AS WE WERE ALL TOLD DAY AFTER DAY & WEEK AFTER WEEK & MONTH AFTER MONTH BY SO MANY SO CALLED EXPERTS THAT APPARENTLY DIDN’T KNOW ANYMORE THAN I DID. AFTER YEARS OF BEING ON THIS RIDICULOUS ROLLER COASTER I’VE COME TO THE CONCLUSION WITH THE HELP OF SOME VERY INFORMED INDIVIDUALS THAT WE ARE NOT BEING TOLD THE WHOLE TRUTH & ARE BEING MISLEAD BY SOME EITHER ON PURPOSE OR DUE TO THEIR LACK OF ANY REAL INTEL.
IN SHORT I’VE BEEN TOLD THE DINAR THAT WE ARE HOLDING WILL NEVER “RV” OR “RI” PERIOD & THAT THIS FACT HAS BEEN KNOWN FOR SOME TIME. WHETHER YOU BELIEVE ITS THE POWERS TO BE, OBAMA, SOROS, OR THE EASTER BUNNY HOLDING THIS UP DOESN’T MATTER. THE FACTS AS THEY WERE SHARED WITH ME ARE SIMPLE & INDISPUTABLE. IRAQ IS PLANNING AND HAS NEVER HIDDEN THE FACT THAT THEY ARE COMING OUT WITH A “NEW CURRENCY” WHICH WILL IN FACT HAVE A REAL TRADEABLE VALUE. HOWEVER NOT THE CURRENCY THAT WE HAVE BEEN ABLE TO BUY THROUGH THE YEARS WHICH WHEN THE CAT IS FINALLY OUT OF THE BAG WILL BE RENDERED WORTHLESS JUST LIKE THE SADAM CURRENCY. YOU SEE ITS LIKE THIS, THE DINAR WE ALL HAVE IS LIKE MONOPOLY MONEY AND WAS “NEVER” INTERNATIONALLY TRADEABLE, IT WAS USED FOR ”IN COUNTRY” PURPOSES “ONLY”. WHILE IT WAS ALLOWED TO BE SOLD OUTSIDE IRAQ FOR REASONS WE CAN ONLY SPECULATE ON IT HAD NO VALUE OUTSIDE OF IRAQ OTHER THAN THE DEALERS THAT ARE SELLING & TRADING IT. THEREFORE AS A FILLER CURRENCY OR IN COUNTRY FUN MONEY IT IS NOT SUBJECT TO ANY BANKING OR CURRENCY EXCHANGE RULES WHATSOEVER, THERE WILL BE NO PROBLEM WHEN IRAQ IS READY TO REPLACE THE 000 CURRENCY WITH THE NEW CURRENCY THEN RELEASING ITS REAL VALUE THAT WILL MAKE IT INTERNATIONALLY ACCEPTABLE & TRADABLE WHICH IS EXACTLY WHAT IM TOLD IS ABOUT TO HAPPEN BY SEPTEMBER 2012. ALL THE BS, STALLING & RUMORS WE HAVE BEEN FED OVER THE YEARS IS DUE TO IRAQ NOT BEING READY TO RELEASE THE NEW CURRENCY AND NOTHING OTHER THAN THAT, NOT THE GOI, IMF, CBI OR MALIKI’S MUSTACHE NOT BEING TRIMMED HAS BEEN THE CAUSE FOR ANY DELAY, ARE THE DEALERS AWARE OF THIS SCENARIO? I CANT & WONT SAY BUT I HAVE MY SUSPICIONS HOWEVER FACTS ARE FACTS & DON’T BELIEVE THE WEAK ARGUMENT THAT WHAT IM SAYING IS BS BECAUSE AN RV HAPPENED IN GERMANY & KUWAIT, YES FOLKS IT DID BUT ONE VERY LARGE FACT THAT THE DEALERS & GURU SITES LEAVE OUT IS THAT THOSE CURRENCIES WERE INTERNATIONALLY TRADABLE AT THE TIME THEIR RATES CHANGED & WERE NOT SETUP AS FILLER CURRENCIES OR IN COUNTRY MONOPOLY MONEY WHICH MAKES THE IRAQI DINAR A VERY DIFFERENT ANIMAL. IT IS NOT MY INTENSION TO BURST ANYONE’S BUBBLE OR RAIN ON YOUR DREAMS BUT I’VE PERSONALLY KNOWN TO MANY PEOPLE WHO HAVE BEEN & CONTINUE TO BE REALLY HURT RIDING THIS TRAIN OF HALF TRUTHS & BS. I FELT THE NEED TO AT LEAST PRESENT WHAT INFORMATION I HAVE & SHARE AN ALTERNATIVE SCENARIO & OPINION, ALL OF YOU WHO HAVE HEARD MORE BS STORIES REGARDING THIS ALLEGED IMMINENT RV THAN WALT DISNEY HIMSELF COULD HAVE DREAMED UP HAVE TO MAKE UP YOUR OWN MINDS BUT ILL TELL YOU THIS IF MY SOURCES ARE ACCURATE & I BELIEVE THEY ARE, WHEN THE TRUTH IS REVELED YOU BETTER HAVE MANY EMPTY WALLS THAT NEED PAPERING BECAUSE THAT WILL BE ALL THE DINAR WILL BE GOOD FOR. PLEASE USE YOUR COMMON SENSE & DON’T BUY IN TO THE TOMORROWS, NEXT WEEKS, OR WHAT YOU ARE SEEING NOW THE SETUP TO STRING YOU ALONG TO 2013.
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Shabibi: Monetary policy in Iraq is bad and the World Bank review
Posted: April 24, 2012
Central Bank Governor Sinan Shabibi monetary policy in Iraq as one of the worst policies, He called the World Bank to review.
Shabibi said / the Baghdadi News / On the sidelines of a seminar for businessmen also attended by his deputy, the appearance of Mohammed Saleh, Secretary General of the Council of Ministers Ali Mohsen Keywords: “We can not to this country to continue this case and can not keep the money vulnerable to looting, calling for disclosure systems of corruption to the public. “
He added that “monetary policy in Iraq, the worst of existing policies, calling for the World Bank that the review of this policy and the development of a new mechanism related to economic reform and banking sector in Iraq.
For his part, Vice Governor of the Central Bank of the appearance of Mohammed Saleh / News of the Baghdadi /: there is a conflict of interest and everyone looks at his personal benefit and harm others, and the lesson is not to speak, but to build strong markets and institutions and build a promising future.
He added: Iraq at the crossroads there are three markets in the region exposed to high vibration and should not be “dried” the country’s money because of these conflicts surrounding, revealing attempts to dry the benefits of external funding in Iraq.
As stated by the Secretary General of the Council of Ministers Ali Mohsen Keywords: long note out large amounts of dollars from Iraq under the title of foreign imports and purchases.
He said: We do not have the problem of procurement, but we have seen and discovered that the total of these amounts reached up to $ 180 billion has been converted did not really have turned to imported goods, which means it came out for other purposes.
And: We have asked some of the commercial Mlhakaatna States that ratify the lists that are buying in huge amounts and arrived in one of the countries to five billion in the offer lists of Commercial Attaché for the purpose of ratification
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did you think they didnt have a lot of dinar? this is expected come on they are neighboring countries and can assure you also Kuwait has lots of dinar as well. Iraq has to do something.
This post has been edited by easyrider: Today, 04:27 PM
Perhaps allowing wealth to pour into these countries is part of the plan and will help to unseat the current regimes.... Let's hope it is something positive.... I do believe the fall of dictators and kingdoms is well underway... I guess as much as I try to read the positives in all the news, I can't help seeing some of the negatives as well...
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"huge amounts of Iraqi currency held by traders in Iran and Syria and Turkey"
This cannot be good.... These sanctioned nations excluding Turkey would be able to cash in and enjoy great wealth.... This would seem to be a problem for the rest of the world.... And for us... JMHO
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Enorrste
20 hours ago (Reply)
AC is mistaken in his interpretation of the articles referenced. John has rightly quoted the relevant sections from Najafi in Parliament in which paragraph 103 of the Constitution clearly states that the CBI is independent in administration and ACTIONS, especially from interference from the Government, which is specifically named in the Constitution!
Shabibi does not have to report to the Council of Ministers, nor will he have explaining to do if he should elect to visit them. He already has the full backing of Parliament, to whom he does have to report.
The supposed “halt” of the “remove the three zeros” by the Cabinet is vaccuous. They have no authority in the matter per the Constitution. Parliament has also stated that they have no authority, and Saleh stated last week that no law needs to be passed or regulations from the Cabinet. In fact, he said, all that needs to be done is a posting of the regulations for exchange in the Gazette.
The CBI is ON RECORD that the RV will raise the value of the IQD to about $1 per dinar, and that the rate will rise gradually up until September, at which time the new currency will be issued to coincide with the existing currency. The two will coincide for one to two years, during which period the old currency will gradually be removed.
The money supply will not rise. In fact it will fall dramatically. Not only have most of the large notes already been withdrawn (Shabibi stated so) but the few that remain will disappear after the $1 RV, probably in the near future. By September there will be no large notes left. The currency, per their own press conference, will consist of 1 to 100 dinar notes, with values of about $1 per dinar. Therefore the money supply will DROP from the current 25 trillion dinars to about 25 billion dinars, as they had predicted clear back in 2007 and re-iterated in 2009 and 2010 and 2011. After September the dinar will continue to rise in value until it reaches equilibrium in the international market. This will be about $3.50 or possibly higher depending on oil revenues.
With 25 billion in money supply and $3.50 for the dinar they will have about $77.5 billion in money supply with $60 billion in reserves, by far the strongest currency in the world.
Finally, Shabibi has the authority to change the value of the currency whenever he feels it is time to do so. The Cabinet did not “HAVE” to give him that authority. He already has it. Neither can their resolution STOP him from acting. This is bluster, and Najafi rightly pointed this out by quoting the Constitution. The GOI is powerless over actions of the CBI. Parliament backs the CBI 100%. The IMF has also backed the CBI, specifically on the “remove the three zeros” project (RV). Nothing from the GOI can stop this.
AC is mistaken and needs to do his homework before bloviating.
The Professor
another site
20 hours ago (Reply)
There is so many holes in this I really don’t know where to begin to dissect the professor’s inaccuracies. I will make a point in the future to make my point more clearly.
Enorrste
20 hours ago (Reply)
I will provide links to all that I have written, one paragraph or sentence at a time.
“The estrus (of the Agency news): The Central Bank is an independent body financially and administratively nor can any other party to put under its control as stipulated by the Central Bank Law No. (66) for the year (2004), while Article (24) of Law No. (56 ) for the year (2004) authorized the central bank and government coordination in the monetary policy among themselves, and also granted the Cabinet the right to call the Governor of the Central Bank or any member of the Bank for the purpose of discussion in matters of monetary policy of the country provided it does not interfere with the federal government the contents of the work of the Central Bank.”
http://almadapaper.net/news.php?action=view&id=63907
This clearly delineates the independence of the CBI from the government.
The Professor
another site
19 hours ago (Reply)
The CBI still report to the Iraq government.
Enorrste
20 hours ago (Reply)
The Finance Committee of Parliament goes on record to state the the Cabinet has no authority over the CBI.
“The Finance Committee has confirmed the parliamentary vote on the resolution not to link the Central Bank of the House of Representatives and annexed to the Cabinet as a violation of the Iraqi Constitution. Said committee member MP for the Liberal bloc internalized within the National Alliance Majida al-Tamimi in an earlier statement / JD / ‘All of Representatives will not vote on the resolution link the Central Bank of Iraqi Council of Representatives.’
It showed al-Tamimi, ‘The first paragraph in Article 103 of the Iraqi Constitution stipulates that the central bank an independent body, independent financially and administratively, and second of the same article stipulates that the Central Bank is linked to the House of Representatives of Iraq, the solution relates to reassign the Council of Ministers is a violation of the constitution’.
She pointed out that ‘the House of Representatives will vote on the resolution of any independent body to be connected to the Council of Ministers because the deputies do not want to breach the Iraqi constitution.’”
The Professor
another site
18 hours ago (Reply)
The Iraq Judicial court stated differently.
DarlK
14 hours ago (Reply)
AC, you seem to have a hard time understanding plain English. Are you positive that Arabic isn’t your first language because English doesn’t seem to be!
another site
14 hours ago (Reply)
LOL…thank you that made my night!
Enorrste
20 hours ago (Reply)
Saleh states that no law need to be passed, only a regulation posted in the Gazette to change the value of the IQD.
“Baghdad (news) .. Commended the deputy governor of the Central Bank of the appearance of Mohammed that the draft deleted three zeros from the Iraqi currency does not need new legislation but issued a regulation to serve as instructions as stipulated by the Central Bank Law.
“Saleh said (of the Agency news) on Tuesday: The Central Bank Law gave full authority of the monetary authority to change the structure of the Iraqi currency, or delete zeroes of them, and can not be new legislation for the project to delete the three zeroes from the currency, having been discussed twice in the House and Minister, and became branches Executive and Legislative more familiar with it, adding that the project needs to issue a regulation and is a published instructions in the Official Gazette, and the Central Bank is in the process configured.”
The Professor
another site
18 hours ago (Reply)
Changing the value of the Iraq dinar is totally different than printing new currency. The printing of new Iraq currency which the deletion of the zero’s is what it is will require the approval of the Iraq government. Right now with the current economic crisis I don’t believe its going to happen anytime soon.
john
20 hours ago (Reply)
Where are the holes and please back up what you are saying by dissecting his inaccuracies with articles or facts as you know them.
It seems like the professor has done his homework and knows what he is talking about, you on the other hand put your opinion out here and never back it up.
I am not trying to start anything here just looking for facts.
Enorrste
20 hours ago (Reply)
Although this plan has been delayed, it was laid out back in October of 2010 that two currencies would co-exist. The plan was formulated in 2005, as I said.
“Two currencies coexist together and gradual replacement Central Bank (time): Delete the zeros start end of the year
“10/02/2010
“BAGHDAD – Ahmed Saleh Khyoun
“CBI begins the end of the year and gradually replace the currency now in circulation a new currency which zeroes deleted within the strategy to reform the monetary system started in 2005.
“Bank consultant and announced the appearance of Mohammed Saleh told (time) on that (the bank has completed 50 percent of a strategy switch in and out, delete the zeros of the nominal value of the new currency while retaining the cash value and purchasing power), said that (the replacement process will be gradually and spontaneously high and without fanfare, as will be There are two currencies to trade at the same time go hand in hand), but (that the purchasing power of the new currency will remain fixed).
“Saleh said (there are multiple advantages of this strategy, including ease of trading between the citizens and facilitate the work of banks, counting, sorting, and stand on the counterfeit currency and to facilitate transactions of the citizens with the banks on the deposits and withdrawals in addition to facilitating the process of monetary reform after hitting a currency issued in circulation now 25 trillion dinars, while in 1990 was about 25 billion dinars and this in itself calls for the deletion of zeros).
“In the answer to a question by (time) whether the Central Bank has set a deadline for the replacement of the currency said (we did not define this ceiling until now that the matter is still under study and the reality of work at that time will decide how long the replacement process).
“Responding to another question about the Iraqi currency held abroad and how to replace it “(The right of a citizen is to remove the $ 200 thousand dinars and he could only replace it like any ordinary citizen here in Iraq, either from abroad, the banks in the States would be responsible to us of the assets of our currency), He pointed out that (a media campaign will precede and guide the process in order to raise public awareness of the importance of this and that our banks and our will all be ready to provide all facilities to the citizens and emphasize once again that the process does not affect absolute quiet in the market also note that many countries replaced their currency and benefit from their experiences in this area, including Turkey, Russia, Brazil and others).
http://www.azzaman.com/index.asp?fna…htm&storytitle
The Professor
another site
19 hours ago (Reply)
The strategy for the new currency was only 50% completed according to the article. We know that no new Iraq currency has ever been printed and that the current Iraq currency is still in circulation according to the M2 reports from the CBI. The CBI deputy Saleh has stated the matter is still under study. Deputy Saleh knows that he still needs the government approval to implement the CBI plan to replace the Iraq currency. The approval had not been granted in Oct 2010 the time of this article being published.
Enorrste
20 hours ago (Reply)
It appears that AC won’t have the courage to reproduce these articles since they clearly state exactly what I just posted.
I’m sorry that you are more concerned about your reputation than you are about the truth.
I dare you to post these articles.
The Professor
another site
18 hours ago (Reply)
It amazes me that you would come to my blog and accuse me of not having courage to publish your diatribe of Iraq articles. I posted all the articles and explained most of them to satisfaction. My reputation is solid and I have always given my best commentary and analysis even if it was not what you all wanted to hear. You show your true colors and character with your posts and it is unbecoming of you.
Enorrste
20 hours ago (Reply)
Shabibi on record March 4 of this year stating that the value of the IQD would be increased “significantly” in “the coming days.”
BAGHDAD / not / A member of the parliamentary Finance Committee Faleh applicable, the registered companies in the Iraqi market for securities is the reason Riisa the high value of the U.S. dollar against the Iraqi dinar, indicating that the central bank has promised to reduce its value in the next few days. He said in effect, in a press statement received by the Agency “Secrets News / We are not” on Monday that “the central bank is responsible for fiscal policy and therefore obligated to take measures and controls to preserve the value of Iraqi dinar,” adding that “measures the bank last did not work in raising the value of the dinar Iraqi and inquire about this thing called the Governor of the Central Bank and told me that the measures developed but not implemented by 100% and the promise of its application in the coming days which will then significantly decreased the value of U.S. dollar against the Iraqi dinar. ”
A significant reduction of the value of the dollar against the dinar is the same thing as a significant INCREASE in the value of the dinar against the dollar.
The Professor
another site
19 hours ago (Reply)
The CBI Governor Shabibi can state anything and it does not mean its going to happen. Look at the current crisis and in this article it stating that he wanted to decrease the value of the U.S. dollar and just the opposite has happened. The CBI governor knew what was happening in Jan 2012 with the Dinar ie. the counterfeiting and the smuggling of U.S. dollars to the neighboring countries. The CBI governor will be reporting to the Iraq government to give his explanation on what is happening with the Iraqi currency to the Parliament and Cabinet finance committee.
Enorrste
19 hours ago (Reply)
This came out today. Shabibi is on record that he does not want to do an “end run” around the GOI. However, he is clearly ready to do so as is clear from Saleh’s statement today. The question is whether Maliki will go along, or will stall, as he has done in the past. If he stalls too long, however, Shabibi has the backing of the IMF and Parliament, as well as most of the economists in the country to go ahead.
“Saleh said that the central bank exceeded the advanced stages in the preparation of studies and logistical preparations for the mission project to delete the three zeroes from the currency and within a specific timeframe as the draft reform of the Iraqi currency. He added that in the event of obtaining approval by the federal government on the implementation of the project work will be on the tactical level and higher will be the announcement of the implementation and contract with advertising companies and the media to educate citizens on how to use the new currency and to answer all questions raised by him.”
Notice two things here: first, he refers to “in the event of obtaining approval of the government.” He did NOT state that the project required the approval, but indicates that he would like their approval. Second, they are ready for the “implementation” of the project, which is the RV itself.
The Professor
another site
19 hours ago (Reply)
Saleh stated in the event of government approval everyone knows that the CBI must obtain approval from Prime Minister Maliki and his Cabinet Finance committee for the implementation of this project. Today the Cabinet Finance committee issued a resolution for the suspension of the New Currency project indefinite. If the CBI could act alone than the Cabinet would not have signed a resolution on the matter with complete approval from the Iraq parliament. Why waste everyone’s time to get a resolution on the matter if the CBI is supposedly independent. The CBI has independence on certain matters but not totally autonomy from the Iraq government.
Enorrste
19 hours ago (Reply)
This is one of many articles indicating that the dinar will be RV’d to equal $1. Several have come out in the last couple of months. This was only 1 week ago and states it quite clearly.
“Financial: ‘Iraq is creating the conditions for even the Iraqi dinar against the U.S. dollar’
“Date: Thursday, 04/05/2012 20:48
“Citizen / special / Sarah al-Obeidi
“At the time when the central bank that its policy on the level near will work to stabilize the Iraqi dinar exchange rate against the U.S. dollar, for mid-level and near will work to equal the exchange rate of the Iraqi dinar against the dollar, a number of finance confirmed that the implementation is the step in such circumstances taking place in the country things are complex and require a brief period in order that the central bank can be in his ability to equal the Iraqi dinar against the U.S. dollar (Citizen News) The follow up this subject and was the first speaker. Financial expert, Munzer Mohsen said: “that it is very difficult in such complex conditions that are equal Iraqi dinar with the U.S. dollar for the time being at least, the reason for a number of objective reasons is most important that the budget that passed shortly before given a majority for the area Alchglah and not investment, making it difficult the development of the Iraqi economy to diversify its resource-dependent by an estimated 95% on oil exports, and that most of the materials, goods and services imported and non-productive and nationally. He improved “: the problem is the other sensitive to Iraqi oil, which is such a large proportion of the resources of the country is stable prices.”
http://almowatennews.com/news.php?action=view&id=39121
The Professor
another site
19 hours ago (Reply)
Another article referring to the Plan of the CBI. We know what happened as the Iraq Dinar is depreciating against the dollar and the loss of confidence in the Dinar by the Iraqi people thanks to criminals and entrepreneurs who are profiting from the dollar and not the Dinar. Iraq imports everything and pays in dollars so they have a large amount of U.S. dollars in the foreign reserves. This crisis in Iraq could go on for awhile.
Mike
19 hours ago (Reply)
wrong,,,wrong,,,wrong
again,,,again,,again
Do you really think Maliki has the power,,,,,any longer
SMOKE,,,SMOKE,,LAST DITCH TACTICS BY A FOOL IN POWER
another site
18 hours ago (Reply)
If your talking about PM Maliki he has the support of the USA and the Persians. PM Maliki will be in power quite awhile longer.
Enorrste
18 hours ago (Reply)
How can AC state that the CBI reports to the Iraqi government when the Constitution clearly states just the opposite. The CBI reports to Parliament and may report to the Cabinet, but the Cabinet is not authorized to tell it what to do. I quote paragraph 103 from the Constitution:
“Article 103:
“First: The Central Bank of Iraq, the Board of Supreme Audit, the Communication and Media Commission, and the Endowment Commissions are financially and administratively independent institutions, and the work of each of these
institutions shall be regulated by law.
“Second: The Central Bank of Iraq is responsible before the Council of Representatives. The Board of Supreme Audit and the Communication and Media Commission shall be attached to the Council of Representatives.”
There is no mention here of the CBI reporting to the GOI, only to the Council of Representatives (Parliament). If AC has something that equals the Constitution but says otherwise I would be glad to see it.
The Professor
Enorrste
18 hours ago (Reply)
The Iraqi Judicial Court reports to and is a lacky of Maliki. The fact that they came out on January 18 with a statement that totally contradicts the Constitution itself will be shown to be irrelevant, and the Parliament has stated such. When push comes to shove the Constitution will be shown to be supreme. This isn’t over, and for AC to imply that just because the Judicial Branch sent a letter to the CBI that it is somehow over is misleading, at best.
The Professor
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CBI: The high price of the dollar against the dinar controlled and reduced in the coming days
Saturday, April 14 / April 2012 15:44
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that the high price of the dollar against the dinar is dominated by the Bank and the coming days will witness a significant decline.Saleh said Iraq told every [where] the day, that “the cause of the price rise of the dollar against the dinar goes back to the regional situation plaguing the neighboring countries, and these conditions Oirt and a negative impact on the currency market in Iraq by increasing the demand for the dollar.”
He added that “the Bank noted in the last term increase in the purchase order dollar, forcing him to request data taxation of traders [Clearance tax], but traders Tlkoa to pay their taxes because of evading them, thus they have to withdraw foreign currency from the market, which led to decrease the amount found in the market after the increase in demand that has led to the increase of the price. “
And the favor of that “budget had a negative impact also on the Iraqi market because of its size, which led to financial increased demand for foreign currency.”
He pointed out that “the smuggling of currency out of the country also have a role in the increase of the dollar in the Iraqi market,” noting that “the smuggling operations have been active after the imposition of economic sanctions on some neighboring countries.”
The dollar exchange rate in the local markets witnessed on Tuesday its highest level in front of the dinar in nearly four years, reaching U.S. dollar exchange rate per 1320 dinar, recording an increase of 90 dinars compared to last week, and 154 dinars, more than 13% of the price specified formally in the Central Bank, a 1166 dinars per dollar.
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All we want to see... that number to go DOWN... DOWN... DOWN!!! Did I say we want that number to go DOWN?? YES... DOWN!
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