jomans

IMF is serious about lending IRAQ money. Why would they do that or why would IRAQ even consider that if thay are about to RV? Sorry folks, RV is a loooong way off. http://www.imf.org/external/np/sec/pr/2015/pr15262.htm

10 YEARS LATER, on 20 Feb 2015 - 4:16 PM, said: I always thought it would be 20 years before RV.... but hope it comes sooner.

Adam, it will take 30 days before the results of the elections are revealed.

Right on Dontlop.... Shabibi was trying to remove IQD from circulation. Reason being is that the less currency available for circulation, the more valuable it will be. But, he got fired (or removed), so could not continue his plan, Now, Iraq all of a sudden relaized that they now have a lot more IQD in circulation, which makes their currency weak (less in value). So, getting the banks to change IQD for Gold is a great idea to reduce IQD circulation, and increase IQD value. They shouls have kept Shabibi on board... I don't think they realized what he was trying to do.

The Dinar is not really worthless in country (IRAQ). In IRAQ, you can use Dinar to purchase goods in the marketplace. It's just worthless outside the country because no other country recognizes it. That has not happened yet.

Yeah, the IRAQ news folks seems to have a tendency to rehash/repeat themselves. I don't know why.... could be because they don't have anything else to report???

Hey Rayzer, Thanks for your input. However, I do think the Mods do a great job of monitoring and policing the forum(s). In practicing freedom of speech on this site, there is a lot of leeway to express opinions, as it should be. I trust the Mods judgement(s).

Well, here is some history: http://www.edinarfinancial.net/history.php

Cabinet agrees to convert the purchase amount of the dinar to the dollar at the Central Bank 03-09-2013-17: 41 Alsumaria Mobile Version economics and business Alsumaria news/Baghdad The Council of Ministersapproved Tuesday, to convert the purchase amount of the local currency to the US dollar at the official rate of Exchange by the Central Bank of Iraq. And the General Secretariat of the Council of Ministers in a statement received "alsumaria news", "Council of Ministers held today, thirty-eighth regular session in Baghdad headed by Prime Minister Nouri al-Maliki." The Secretariat explained that "the Council has agreed to convert the purchase amount of the currency of Iraqi dinar to US dollar currency exchange rate by the Central Bank of Iraq", indicating that the payment will be "under a documentary credit is opened in a bank in the country of purchase in case of direct purchase from abroad when absolutely necessary". http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Fwww.alsumaria.tv%2Fmobile%2Fnews%2F82058%2Firaq-news

yeah, Frank is a little off on his report. But apparently Maliki's family is gone.... And Maliki may follow. Looks like the rats are leaving the ship....

On the contrary, I believe Maliki wants another shot at office next election. if so, I think he'll formally grant the change in currency before then so he can have a shot for re-election. I know I would if I was a politician..... just say'in.

Yeah, I do.... pretty factual stuff on that site. Med is sometimes 'full of himself', but I think he's working on it. His ego must be huge LOL.

What I am drawn to is the membership status of countries that have a tradable currency vs. countries that do not. Iraq currently has a MEMBERSHIP STATUS OF ARTICLE XIV.... to have a convertible currency they need to obtain MEMBERSHIP STATUS OF ARTICLE VIII. So, here's what the discovery is: 1. click on this link and it takes you to IRAQ; Financial Position in the Fund as of July 31. 2009 .......... http://www.imf.org/external/np/fin/tad/exfin2.aspx?memberkey1=460&date1Key=2009-07-31 2. On the IMF website, see item #1. Membership Status....Iraq is under ARTICLE XIV 3. click on ARTICLE XIV and read what that status means NOW COMPARE: 4. On the same IMF website, go to the left side and click on 'IMF' Members Financial Data by Country' 5. Insert the USA.... and see their membership status is ART VIII 6. Read what ART VIII status means.....(currency convertability) So, All countries who have tradable currencies are under ART VIII while Iraq is under ART XIV Until IRAQ is a member of ART VIII, the currency is not convertible to other countries currency. This has to happen first, before any RV by IRAQ (or at the same time). But, the good news is that I do believe that IRAQ and the IMF is working on it.

Yes, all this is bought by USD currency. Oil produced by Iraq is sold through USD dollars. The Iraq government is simply buying from countries by spending US doolars. What's so hard to understand?

Adam has repeadly said on many occasions that.... Nothing... absolutely Nothing happens duribng Ramadan. But, maybe he has changed his mind.... don't know.

Yeah, I posted the article from CBI about deferring the 3-zero removal in the forum a few days ago....

Between Sept and Dec of this year.

Central bank: the project raise zeros from the currency is still deferred ========================== 03-07-2013 07:34 PM Karbala (news) said the Central Bank of Iraq, that the project raise zeros from the currency is still postponed until further notice, indicating that the Bank's gold reserves has not been affected by changes in the global market. The central bank governor said Abdul Basit Turki told a news conference Wednesday afternoon on the sidelines of his visit to the city of Karbala for the opening of Dar financial control, which was attended by the Agency (news): The project raise zeros from the currency project is delayed due to the conditions experienced by the country, noting : The bank is still studying with experts and specialists how to change the currency but its implementation depends on the situation experienced by Iraq and this deferred offline. Turki confirmed: that the bank reserves of gold is not affected by changes in the global market due to the financial plan developed by the bank a few months ago to avoid such a disaster, noting that the gold reserves in the Central Bank would be a big supporter of the Iraqi currency at any time, anywhere. It is noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the Iraqi dinar, pointing out that the deletion needs to security and political stability as well as economic stability. / End / 11. O. P / http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Fwww.i khnews.com%2Findex.php%3Fpage%3Darticle%26id%3D904 36

Many of us who have been in this speculation are now seeing before our eyes the falling of dominoes that always seemed out of reach. Wow. What a time to be alive. =================================================== Kurdish MP reveals deal between CG, KR over Oil & Gas law draft Sunday, 30 June 2013 20:49 Baghdad (AIN) –MP, Mahdi Hachi, of the Kurdistani Democratic Party headed by the President of Kurdistan Region, Masoud Barzani, revealed a deal between the Central Government and Kurdistan Region over the final draft of the Oil and Gas law. Speaking to All Iraq News Agency (AIN), he said "The Oil and Gas law draft is in its final steps and there is a suggestion presented since 2007 and another since 2010 where the two sides, during the meeting between Barzani and the Premier, Nouri al-Maliki, have shown a primary agreement over this draft." "The joint committees have reached a final draft for this law to endorse it at the parliament," he concluded. /End/

Keep working in my vineyard.... making the best red wine that I can.

Expect to see BofA and Chase follow suit here.....

I believe the 'Tax Discussion' area under "Investing" section

Not quite true Moultonn. Here is a good artice on IRAQ oil and actually includes an image of the pipelines... http://www.google.com/imgres?imgurl=http://enterpriseresilienceblog.typepad.com/.a/6a00d8341c4ebd53ef0120a4c6621a970b-800wi&imgrefurl=http://enterpriseresilienceblog.typepad.com/enterprise_resilience_man/2009/08/pipelines-oil-and-iraqs-future.html&h=264&w=256&sz=21&tbnid=V6RQZU9ZtwD-mM:&tbnh=83&tbnw=80&prev=/search%3Fq%3Doil%2Bpipelines%2Bin%2Biraq%26tbm%3Disch%26tbo%3Du&zoom=1&q=oil+pipelines+in+iraq&usg=__7KZUHDB_skcT3iS57V6QZkyt_Bs=&hl=en&sa=X&ei=CPOsUZ3nKM7kiwKq-4HIBA&ved=0CCUQ9QEwBA

Sunday, May 26 / May 2013 09:33 | : Ambassador Agency News {Baghdad Ambassador: News} CBI begins early next month, the application of a new plan to raise the value of the dinar against the dollar, according to the posted member of the parliamentary Finance Committee Faleh Djiashi. The newspaper quoted "morning," Djiashi of saying that "the central bank told the parliamentary Finance Committee that an action plan will apply early next June, would be enough to raise the exchange rate of the dinar against the dollar." The Djiashi added that "the central bank works to reduce the number of companies that deal with it and put the money in the auction will lead to a reduction in the value of the dollar and the reliance on monetary policy open without complicated procedures and controls and a wide open field in front of the government banks." The Finance Committee announced the formation of a small committee consisting of three deputies to monitor the exchange rate of the Iraqi dinar against the dollar, stressing that the practical measures undertaken by the central bank last week led to address the problem gradually. The House of Representatives had earlier guest and Central Bank Governor Abdul Basit Turki agency and discussed with him the reasons for the high price of the dollar against the dinar. http://assafirnews.net/index.php/2012-05-14-03-04-35/16576-2013-05-26-06-33-43.html

Iraq is pretty far from being a full WTO member. In order to be a member of WTO, you need to be able to trade goods and services with other countries. Iraq is way behind in their private industry/commerce. They do not have any manufacturing in the private sector to trade with any country, except oil. But oil does not count.