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About dinarfarian

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  1. Battle for Mosul: IS 'blows up' al-Nuri mosque
  2. Thanks Adam. It appeared to work earlier but now the link takes me to a page that says I do not have permission to view. Thanks
  3. I paid for my vip on the 31st of October but am unable to enter the vip forums, it takes me back to the upgrade link. yet my subscription shows its all paid for. I assume this is why i have not received the vip test emails.
  4. I am also not getting either email. But I do receive the general user emails. also every time I search for VIP it takes me to the upgrade subscription plans and it is hard to access the VIP forum
  5. over the last 3 years i have purchased my dinar from lloyds bank. i just logged onto my account and the iraqi dinar is no longer listed
  6. I know it's hard to read, but it's also very informative. BondLady Chat with Scooter (4/25/12) April 25th, 2012 02:30 pm · Posted in CHATS & POSTS [scooter-EG] So [scooter-EG] How can I help today [bondLady] Hi Scooter, and ty so much for coming to our little Corner of the Net !!!! [bondLady] me and some of my team discovered something a few days ago and have been working on it and kind of came to a standstill on it, as to what it could possibly mean to us as investors, and or the CBI, why would this Economic Data show such a huge change… from a deficit … to a surplus…….and i want to thank you so much Sir, for coming to our Corner and helping me and all our members try to make sense of this….. this is what we discovered……. [bondLady] ECONOMIC DATA 4/2/2012 2012 Forecasts GDP – real growth rate 12.6% Budget deficit/GDP 10.0% Current account deficit/GDP 4.5% Net foreign reserves $60B [bondLady] the deficit hardly ever changes [scooter-EG] the sudden changes at the CBI — I know — it comes acrsss very odd doesn’t it [bondLady] yes [scooter-EG] but actually it makes a lot of sense [bondLady] then all of a sudden 18 days later…. [bondLady] ECONOMIC DATA 4/21/2012 2012 Forecasts GDP – real growth rate 11.1% Budget deficit/GDP 10.0% Current account surplus/GDP 9.1% Net foreign reserves $60B [bondLady] deficit of -4.5% to surplus of 9.5% [bondLady] help us out here brotha please [scooter-EG] See what happens in iraq [scooter-EG] in this case [scooter-EG] first [scooter-EG] Iraq’s budget [scooter-EG] When the Iraqis provide a budget or submit [scooter-EG] a budget — they submit two of them at the beginning of the year [scooter-EG] one [scooter-EG] an agreed upon [scooter-EG] and the second [scooter-EG] a proposed [scooter-EG] What they’ve been doing is having the published AGREED upon budget [scooter-EG] sent out to the public [bondLady] ah [scooter-EG] While still maitaining the fidelity of the Transparency [scooter-EG] they sneek the proposed budget on the mof [scooter-EG] website [scooter-EG] they’ve been doing this for the last four years [scooter-EG] so [scooter-EG] what does that mean to us [scooter-EG] in 2010 [scooter-EG] They’ve had a ratio of $2.05 [scooter-EG] in 2011 [scooter-EG] they had a ratio between the two budgets of $1.27 [scooter-EG] and 2012 [scooter-EG] it came in at [scooter-EG] one second let me see [scooter-EG] the spreadsheets are on their site [scooter-EG] it’s a little bit of digging however . [scooter-EG] Here’s some links where I break this out (Sorry Guys Had to Remove LInks) [scooter-EG] that’s 2012 [scooter-EG] when you open it [scooter-EG] what you’ll see at the top is the AGREED upon and PROPOSED budgets [scooter-EG] goto the far right of that [scooter-EG] Those are ratios [scooter-EG] not rates [scooter-EG] i repeat [scooter-EG] not rates [scooter-EG] Here’s why [scooter-EG] They need a way to pay for this RV — and that comes from the primary and Secondary Bond Markets [scooter-EG] We’ll get to that in just a minute [scooter-EG] Now — 1.48 [scooter-EG] What they’ve done is this [scooter-EG] from 2006 up until 2010 [scooter-EG] they’ve had this setup [scooter-EG] as a result — they spend at one level [scooter-EG] but store the excess funds [scooter-EG] and the reason for this is simple [scooter-EG] When the RV/RD — I like Slow Hybrid myself [scooter-EG] when this goes down [scooter-EG] They will [be] require[d] to have those funds and allocate those to the provinces [scooter-EG] back down to the people [scooter-EG] now [scooter-EG] that’s the first item as to why those CBI numbers changed so swiftly [scooter-EG] the second one is bigger [scooter-EG] The “Drainage Funds” [scooter-EG] If you remember [scooter-EG] when Iraq does a budget [scooter-EG] they come out and base the budget on the value of each barrel of oil [scooter-EG] so for example in 2010 [scooter-EG] I believe they budgeted for $62.50 a barrel [scooter-EG] however [scooter-EG] the actual average for that year [scooter-EG] was closer to $78 – $80 [scooter-EG] those funds are Drainage funds [scooter-EG] and held off until the complete budget process goes throught the independent audit and then the final audit with the BSA [scooter-EG] BSA — Board of Supreme Audit [scooter-EG] that process alon can take 18 – 24 months after that calendar year [scooter-EG] as a result [scooter-EG] Iraq has been stockpiling some serious funds [scooter-EG] now [scooter-EG] as to the Debt [scooter-EG] the Paris Club debt — primarily the G20 Credit nations [scooter-EG] forgave 80% of their debt [scooter-EG] but [scooter-EG] big However [scooter-EG] the Arab countries [scooter-EG] DID NOT [scooter-EG] and that debt was equivalent to the sum of the all the debt from the Paris Club members [scooter-EG] I think the total sum was close to $`124 Billion [bondLady] wow [scooter-EG] They recieved some relief [scooter-EG] and I’m not certain what that final number was — but most likely those neighboring countries are sharing some oil wells with the Iraqi’s [scooter-EG] Now [scooter-EG] with that said [scooter-EG] what they are doing right now? [scooter-EG] ohhh [scooter-EG] hold on [scooter-EG] one more item [scooter-EG] actually two more items to remember [scooter-EG] one [scooter-EG] we don’t know what those assets which were frozen are [scooter-EG] I mean the amount [scooter-EG] another item is the funds that were issued to US Treasuries [scooter-EG] for example [scooter-EG] we know there was 89 Billion invested in US treasuries from the DFI [scooter-EG] and during that time of the the DFI [scooter-EG] there was an additional 84 Billion in interest — i have that audit report for those interested [scooter-EG] so here we have Iraq that was showing a massive deficit [scooter-EG] comparitively speaking to GDP [scooter-EG] and on paper it was close to $15 Billion [scooter-EG] and the fact was — they never really had a deficit [scooter-EG] lol [scooter-EG] I laugh at that one every time I see it [scooter-EG] sorry [scooter-EG] anyhow [bondLady] right [scooter-EG] For example [scooter-EG] in 2010 — I believe the drainage funds alone were close to 25 Billion [scooter-EG] just collecting interest in us treasuries [scooter-EG] protected completely worldwide by the US Government [scooter-EG] In fact, there was an article recently that indicated the sum of funds [scooter-EG] including the assets since 1990 was close [scooter-EG] to 816 Billion [scooter-EG] not certain if thats the case [scooter-EG] but it was certainly something to pause and take a closer look [scooter-EG] oh yes [scooter-EG] here’s some other flash files for your review to show 2010 and 2011 [bondLady] ty [scooter-EG] np — just give me thirty seconds [bondLady] np at all take your time page 2 [scooter-EG] ok [scooter-EG] that should provide some data points for reference [bondLady] ty [scooter-EG] those spreadsheets are directly from the Ministry of Finance site [scooter-EG] What you’ll find are the two budgets I spoke of earlier [scooter-EG] so the question comes about now is what happens next [scooter-EG] well — there’s two items that are big ones for me [scooter-EG] one [scooter-EG] those two government banks — Rafadain and Rasheed need to be Devalued to todays level [scooter-EG] once that’s completed — the IMF will raise their capital to the right amounts [scooter-EG] see what happend is this [scooter-EG] back during the Saddam era [scooter-EG] the value of those assets were calculated at the $3.21 rate [scooter-EG] and those assets are still on the Balance sheets at that level [scooter-EG] and it’s completely incorrect [scooter-EG] so for example [scooter-EG] the Rafadain bank shows Assets of 371 Trillion IQD [scooter-EG] when in reality it’s really closer to 40 trillion IQD [scooter-EG] These banks do over 90% of all transactions [scooter-EG] don’t be frightend by this lower number [scooter-EG] this is a good thing [scooter-EG] It’s the primary reason they haven’t progressed farther then they are right now [scooter-EG] Nevertheless, that will be taken care of [scooter-EG] but it is funny that the TBI now has a higher value than the Rasheed bank [scooter-EG] now to the bond market [scooter-EG] If you look at the CR reports of the past from the IMF [scooter-EG] They made it abundantly clear they Iraq must Privatize those SOE’s [scooter-EG] State Owned Enterprises [scooter-EG] approximately 108 of them [scooter-EG] these are the big insurance companies, utility companies, power companies [scooter-EG] those companies are the same companies that will form their BOND market [scooter-EG] and so the question for most is why is that important to my investment [scooter-EG] simple [scooter-EG] the primary bond market provides the liquidity for the government [scooter-EG] and pays for any type of increases in monetary value [scooter-EG] that may or may not occur [scooter-EG] in the future [scooter-EG] when the primary Bond market is built [scooter-EG] then the international players can come in to form the secondary bond market [scooter-EG] those Bond markets are CRITICAL to our scenario [scooter-EG] some of this has been done — but they have some more task to complete [scooter-EG] the other important [scooter-EG] item is the immediate need to form capital in that country [scooter-EG] for example, the ISX [scooter-EG] when you compare Iraq to a neighboring Jordan, whose rate is close to $1.48 [scooter-EG] something like that [scooter-EG] Jordan’s Stock Exchange is running at over 300% of their GDP [scooter-EG] I think that’s correct — not certain but I will verify [scooter-EG] but Iraq [scooter-EG] Iraq is only running at 3.5% of their GDP [scooter-EG] Saudi Arabia is running at 45% [scooter-EG] I think Kuwait is similar [scooter-EG] so they need the capital to form and form quickly [scooter-EG] none of this can occur until those BOND markets form [scooter-EG] and that won’t occur until those two government banks are revalued or Devalued [scooter-EG] Ok [scooter-EG] scooter diatribe complete [scooter-EG] how did I do [scooter-EG] sleeping [bondLady] u were awesome [scooter-EG] sorry — that was a major brain dump all at once [bondLady] nope totally brilliant [bondLady] yes but we wanted to know and we had come to a stand still [scooter-EG] brilliant and the name Scooter in the same sentence – Not Possible lol [bondLady] and i ty so much scooter [bondLady] if its ok scooter… [bondLady] i have an article id like u to see [bondLady] ok here it is and ty so much [scooter-EG] What article are we talking about [bondLady] ty elizabeth for this article….. CBI confirms the abandonment of an auction sale of foreign currency 25/04/2012 11:21 Baghdad, April 25 (Rn) – The Central Bank of Iraq Wednesday, about his quest for the transfer of an auction sale of foreign currency (the dollar) to a commercial bank government, saying the auction is not within its terms of reference, and criticized in a living the same accusations made against him on the mechanism adopted by the sell the currency. And saw the price of the dollar compared to a rise in local currency during the past few days, which officials attributed to a local banking companies, the central bank to stop sales of hard currency. And picked up local media reports about the widening phenomenon of smuggling hard currency from Iraq to Syria and Iran to the border crossing points unless confirmed by the CBI. The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) “It is time for an auction sale of currency out of the Iraqi Central Bank, and shall state that a commercial bank, Vmzad sell the currency does not fall within the competence of the Central Bank of Iraq.” [bondLady] He explained that “all banks in the world does not work that way, and we we were in the central bank finance foreign trade and this is not our job, and I will work hard with other government institutions for the transfer of an auction sale of foreign currency to the state commercial bank.” [bondLady] The Deputy Governor of the Bank “Unfortunately the policy of intervention the central bank in the market to maintain the stability of the Iraqi dinar ended in foreign trade financing to the private sector, because of the unity of the Iraqi economy (oil), and the market required graduation dollars under various pretexts legal and illegal, and there are worn out to get the currency including the difficult does not serve the Iraqi economy. ” [bondLady] He continued that “the Central Bank of Iraq lies in its mission to intervene to absorb liquidity, and will deal with the bank which will be an auction sale of currency in the total without going into details,” critic at the same time “the accusations made against the bank on a mechanism to sell the currency.” The mission of the Iraqi Central Bank is to maintain price stability and the implementation of monetary policy, including exchange rate policies and management of reserves of foreign currency and regulate the banking sector, while stressing the Finance Committee of parliamentary support for any efforts presented by the Central Bank of Iraq and lead outturn final to the stability of the exchange market. [bondLady] A member of the Committee Secretary Hadi’s (Rn) that “the real exchange rate and the actual government is the one who sells 1118 dinars per dollar, while the crackdown of the Central Bank to sell the currency prompted the companies to buy dollars from banks at a higher price is due.” Hadi said that “the central bank if the easy procedures for the sale of hard currency, is sure to decrease the exchange rate,” noting that “the transfer of the daily auction of foreign currency to other banks rather than the central bank will reduce one of the obstacles, and then will be the Finance Committee in support of Bank Procedures” . And that “his committee with the tightening of measures to sell the currency, but not this way, the conversion of the amount of thousand dollars to the outside should not include the same procedures for the transfer of $ 100 thousand dollars.” [bondLady] In the opinion of experts in the Iraqi economy to transform the task of selling the hard currency from the central bank to state bank may not resolve the problem once and for all. In this context, sees Majid picture that “it is possible that there will be an auction for the sale of hard currency managed by a private entity separate from the central bank, but the bank takes control of market supply and demand to be considered the only party that sells the dollar [bondLady] He said Suri’s (Rn) that “I have a perception that management of the auction by the Central Bank or any other party will not lead to any change in the current reality, but are beginning to resolve the economic problems.” Noting that “the problem is that Iraq is a country unilaterally economy depends on oil, and even tourists spend money, not an Iraqi hard currency inside Iraq. ” The parliamentary Finance Committee had warned earlier, the General Secretariat of the Council of Ministers of trying to dominate the monetary policy of the Central Bank of Iraq, and limit the powers of the province, noting that this was a violation of the constitution and has serious consequences on the national economy. page 3 BondLady] tyvm rip it up please [scooter-EG] one second [scooter-EG] still dissecting [bondLady] take your time and ty [bondLady] and i wont ask you what the “coming days ” mean lol [scooter-EG] ok [scooter-EG] everything there sounds correct [scooter-EG] they have themselves in a dilemna right now [scooter-EG] centralized control vs decentralized control [scooter-EG] it’s a growth problem really [scooter-EG] remember — this country is in its embryonic stage of development [bondLady] right [scooter-EG] in the beginning, [scooter-EG] they absolutely required this to be centralized [scooter-EG] and now the natural economic forces are demanding decentralized movement of exchange [scooter-EG] now why is this good [scooter-EG] well, for one [scooter-EG] the banking sector is demanding this ability [scooter-EG] but remember [scooter-EG] the auctions were the biggest tool that Shabs had to control inflation [scooter-EG] decentralization of this power could have a dramatic effect on a country that relies so heavilly upon their oil revenues [scooter-EG] the volatility in the oil market alone could destroy that economy [scooter-EG] so having centralized control of those auctions has been critical to stablize the exchange rate [scooter-EG] if the exchange rate were to float [scooter-EG] could mean complete catastrophe for the Iraqi Economy [scooter-EG] however [scooter-EG] big however [scooter-EG] they might be to the point in the development where decentralization — at least a little bit — is needed [scooter-EG] stopping the auctions is nothing to be afraid or worried — in fact there’s a lot of positives in my mind [scooter-EG] it just means that they might have taken the next step [scooter-EG] Does that make any sensse [scooter-EG] I hope so [bondLady] yes it does [bondLady] and i appreciate your time in all this [scooter-EG] How we doing so far [scooter-EG] No problem — [bondLady] u are fabulous sir [scooter-EG] TY [bondLady] is it ok with u [bondLady] some of our members and scooter fans [scooter-EG] You are equally fabulous and I truly enjoy when you call me [bondLady] have a few questions for u if u don’t mind… [scooter-EG] ok [bondLady] ty so much scooter i am truly humbled [grashopa] [RickeyT] scooter, do you see Iraq surviving the 3 different factions and remaining intact as a country? [scooter-EG] Yes I do [scooter-EG] even if they Federalize their country [scooter-EG] I see them continuing to be one country [scooter-EG] here’s the reason for this [scooter-EG] there’s over 32 countries involved in this endeavor [scooter-EG] those countries won’t let that happen — unless something major occurs [scooter-EG] remember — the Lettor of Intent [scooter-EG] the loi [scooter-EG] the US — at anytime [scooter-EG] can come back in if there’s any threat to that democracy [scooter-EG] we have them over the coals [scooter-EG] in two area [scooter-EG] one [scooter-EG] the financial protections — we have their banks accounts and money [scooter-EG] two [scooter-EG] the courts [scooter-EG] if those protections cease to exist and they don’t follow the rules of engagement [scooter-EG] $100,000,700,000 [scooter-EG] that’s the amount the us courts alone will recieve instantly [scooter-EG] US [scooter-EG] I believe that’s still the case but I can verify [bondLady] unreal [scooter-EG] I think they will be unified for sometime [grashopa] [urbill] can you please ask scooter his thoughts on Ch. 7 being a possible trigger for the RV? thank you [scooter-EG] urbill I think Chapter 7 could be a trigger point [scooter-EG] however — they have a lot of things to do before they can move forward I think [scooter-EG] Let me get you a link [scooter-EG] of some of the items [scooter-EG] That stems from the world bank recent review [scooter-EG] it list out many of the task they need to get completed [scooter-EG] urbill that might help you out [scooter-EG] ok folks — I really need to get going but I wanted to say [scooter-EG] I truly enjoyed my time here today [scooter-EG] I hope that was beneficial to you [scooter-EG] all and wanted to thank you for the opportunity [scooter-EG] to talk with you [bondLady] awesome scooter [bondLady] ty so much [scooter-EG] You are so welcome [scooter-EG] my pleasure
  7. yes closed today, back to work tomorrow, so rv today would be nice oh well best enjoy this day off, shame about the weather
  8. this happened last year, at easter to, im in uk and have a day off due to the holidays
  9. this is due to european countrues having a bank holiday normal service ressumes tomorrow
  10. I use online banking alot and have seen this before, it usually varies quite a bit between 1700-1880 ish
  11. Number of banks 4 Auction price selling dinar / US$ 1166 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 4,321,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 4,321,000 Total offers for selling (US$) -----
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