drox

I think you did fine Sonny1 nice job and thanks! JMW outstanding for sure, thank you! Truth is we need both of you around here! Sound fundamentals on one side and a unique to the world situation with a country basically starting over. Who knows how it will shake out in the end. Be responsible stewards of your money in this investment and learn what you can on all sides of the argument. Have the patience of a long term investor but the hope of a lotto ticket owner. Whatever happens you already won!

I was wondering the same dang thing! Apparently... He is a really really really good guy even though he got raided at 2 locations for entirely different things. Gosh my heart goes out to him. He must of been framed. Mama always said... stoopid is as stoopid duz. (In my Opinion!!!!) haha. Also, why would you fly all the way to Toledo to attend a conference that a simple "Go to Meeting" internet conference could have accommodated. Who paid for the plane tickets? So bizarre!

This below is from DD also: Quick...hide the dirty clothes under the bed before mom sees it! I actually hope they all make wise and responsible choices going forward! All, Due to my previously announced change where I will no longer allow ANY Dinar Dealers exposure on my websites or services, I have chosen to take down ALL PAST EPISODES of Tidbits Radio by another site as every episode was sponsored by a Dinar Dealer. I still intend to continue my radio program and to roll out a NEW and improved version of Tidbits Radio where I introduce you to all kinds of information, some Dinar related and a LOT that has nothing to do with Dinars. I expect it to be very compelling and hopefully add value to your life. In order to ensure there is no carry-over of Dinar Dealer references, and to be sure I show “Good Faith” in my efforts to change things completely away from any concerns over conflicts of interest, I’ve taken down all references to Tidbits Radio, all audio players, and all episodes. I am even changing platforms AWAY from blogtalkradio to another more advanced system I’m confident you will all love. In a word or two, I am CLEANING HOUSE, and I’m choosing to do this on my own to ensure I keep, regain, and maintain the trust of those who rely on me to do what is right in this very public service and site I offer. I wish you all my very best and thank you once again for your understanding of yet another change I am throwing your way.

Hey Darin... good well thought out post as usual. Fair assessment for sure for the most part. Not sure anybody would imply sell B4 its too late but possibly be careful before you buy more and spend only what you can afford to lose. I honestly spent at my cap of that threshold. I wish I would have been more educated and drank less Koolaid that my friends were pouring. At that time Med ruled the land and he was awfully excited about it. My friends waited with baited breath for his next post. No blame there but our own. Comes with being swept up with the moment and the urgency that was insinuated by all of us being too green on the subject I suppose. Definitely flames fanned on by gurus though just as today. Believe it or not... but there are many on this site that would tell you I posted exactly like you. Ever optimistic, well thought out, and responsible. I am still very optimistic but I had to change the lens I viewed this through after a preponderance of evidence for me through the research I did. That and the lives and stories that many have shared on these forums. I have explored this from most angles that gurus haven't even considered. Stuff that doesn't get posted in the news sections or talked about. There are enormous amounts of information that have never been introduced in these forums out there. Like flowers growing in the cracks of sidewalks. You follow one idea and it takes you into places and reveals things you never thought of. When you take that whole collective body of information and apply it then you too would see this from a different lens I think. I just chose to change my paradigm and I now see this as a long term investment. Only care what gurus think when I think they are hurtful to others or clearly lying. IMO, It will not be an overnight hefty RV as some would like you to believe. That is the confusion of the Kuwait argument that it often gets compared to. Not saying it couldn't get there some day but the whole RD talk would put a monkey wrench in that plan. To answer your questions... I personally would have bought less tangible Dinar but likely the same amount overall. I would have considered a Warka but most likely would have invested it in the ISX or possibly another avenue that would have provided me interest and a more liquid escape. I would have looked at emerging market funds that are Iraq focused of which there are a few I have found. Right now... I have concerns for just how liquid this tangible Dinar is. When Ali disappeared that frightened me big time. He was one of our only cash in options and was a safety net and suddenly he was gone like a fart in the wind. I think there is a good chance we all might end up as business partners in the end if this RD is implemented. Pooling the Dinar for investment as shareholders. Maybe we could open a chain of Smoothie stands across the desert. How's a frozen Darinbananaberry sound? Haha!

Good... that makes all of us in agreement on this thread. We are all positive that we will be profitable and it will enhance the lives and prosperity of the people of Iraq! I am so glad you want to be just as positive as the loppers. Have a nice day Ma'am. I gave you a +1 to even you out

Wow... interesting revelation! If that is true I am not sure that it is entirely good news for any of us. Thank you for sharing that. Ok all you Clark Kent's and Lois Lanes out there time for a new assignment perhaps? I wonder if we should be looking closer at all dealers and seeing if any other raids took place that would verify a cease and desist order for selling Dinar period in the states. The only thing that wouldn't match up with that is that the Summit attendance guys would have spilled those beans all over the net if that were the case. Wouldn't they? Hmmmmm!

Sonny what's up my friend? Why do you even care? The loppers group (which is a dumb name really) are just real investors that are believing it will have a normal or better than normal return relative to most of their stock or real estate investment in their portfolio. Mostly it's their fun money. They have done lots of research and I would venture to say even more than the Gurus. Really... doesn't solid research and perspective help bring credibility to an investment that is often labeled a scam? I commend you and Adam for keeping this an open discussion forum with lots of great characters and smart folks. It has helped lots of people understand this much better and opened all of our eyes to how money, politics, and even the social aspect works across the globe. How boring would it be for you to make a prediction where everyone agreed with you? If your Dubai guys talk some crazy talk... of course people are going to try to dig for answers to validate, right? It is part of the excitement of this gripping drama. I have never seen one "lopper" tell anyone to sell. EVER! The one true "lopper" on this board even thinks it could go to 1000. But he also makes 7-8% interest on all of his Dinar. Maybe we should learn from some of these cats instead of scream at them and throw red rocks? Who knows... they might just save someone's a$$ from over spending or investing money in lunatics?

I want to make it perfectly clear... I don't care that these people choose to make money off their audience. I don't care that they choose to go into other business opportunities in related fields. So long as they are up front and disclose all business affiliations and present information on Dinar from all perspectives to their consumers. They must present the pitfalls as well as the upside opportunities. Fair and balanced. If they didn't do that then I believe that is where deception creeps in and potential criminal activity could potentially develop. That is the gray area we find some of these people in. The lending, financial, real estate, law, and insurance industries all have built in protections when advisor's or advocates are guiding. Some have fiduciary responsibilities and rules and regulations that go with that. Some have commingling and kickback restrictions from related industries. In all cases... disclosure upfront is paramount! That is what troubles me with this Dinar investment. What constitutes advisement or advocacy in this world? I believe that line gets crossed when noted Dinar currency brokers get in bed with notorious and over-imaginative and unrealistic pumpers without even the hint of securities licenses. Then nothing is disclosed until well after the damage has been done. I don't honestly know the laws here, but I know when my gut says something is terribly wrong. Couple that with years of research on the Dinar subject and you know what is a lie and what is not. You understand what is possible and what is not. I think if you are going to work for a Currency Broker that you should divorce yourself from any lucrative discussion about the rise or fall of the exchange rates unless you have a specific securities license that allows you to do so as well as strong errors and omission insurance covering your butt to make such claims. My advice....Pump at your own risk and come clean! Disclose Disclose Disclose! The truth shall set you free!

:lol::lol: That might be my absolute favorite post ever! Thank goodness this is the internet and I can't look at you cross-ways on accident.

Have any of you seen the BHGroup Dinar 101 video? It mentions on numerous occasions the pending RV and how far under valued the Dinar is. Not one mention of any 3 zero removal stated article or concern. It is framed in such a way that a revaluation cannot or should not be questioned. That **** Cheney set this up from the beginning. That you should tell at least 2 different people to contact them to share in "the blessing". That you should NOT look at any other sites. He states one disclaimer at the end that it is speculative and requires patience and then ends it by saying the RV is basically inevitable. He openly admits his affiliation with Ali from Dinar Trade and the special cash-in locations and deals they get with Ali. They are all in bed together it would appear. How freaking stupid can these people be? He might as well have said, "Please hand cuff me officer" as far as I am concerned. I am starting to understand the depth of brain washing that ALL of these yahoo "gurus" have been puking to the hopeful and the needy. Greed is such an ugly animal. http://www.youtube.c...h?v=5UeNzMKJmK0 (If someone knows how to post the video instead of the link feel free) Mods feel free to remove that link if you don't want it there. I think it important to expose these knuckleheads in their own words and the extent they will deceive to make their sale. What kind of a currency broker would basically state it is a can't miss investment (inference)? Do ANY of your investment brokerage houses EVER speak this matter-of-fact in any respectable stock or mutual fund in which they make money from selling? Is this not a conflict of interest? This is a house of cards. Not the Dinar itself, but this seemingly bilking group from the pumpers to the dealers to the wholesalers to the pawn army used out front. Disgusting!!! The Federal Trade Commission Act Deceptive statements or acts violate the Federal Trade Commission Act if they constitute unfair competition affecting commerce. To constitute a violation, there must be a material practice, representation, or omission likely to mislead reasonable consumers. People and businesses are proscribed from making false statements about their own products or the products of competitors, if the advertisements or statements have the effect of deceiving or tending to deceive consumers regarding a purchasing decision. The primary goal of this statute is to protect the public from anti-competition. There is no private right of action; the FTC represents the public in lawsuits to enforce this Act.

So I am confused here. Both Currency Vault and BHG are Dinar currency dealers? Further... both alleged owner operators of these brokerages are friends of Ali based on past conference calls and chat logs aren't they? Does this seem odd to anyone else? The post someone made said Ali was not in attendance as if he was supposed to be but canceled. This could be construed as major violations in anti-trust laws from what I have read. Especially knowing the past RV luring from affiliated businesses "tying" into these circles. Perhaps someone has considered looking into the Secretary of States office in whatever state where the Articles of Incorporation for these dealers are filed? I would be curious to see if Ali's name was among those listed in the ownership groups. Lets face it... That doesn't seem to be the easiest business to jump into to me. Someone that knows the in's and out's purchasing currency from the CBI, shipping, trade laws, etc would be a helpful partner. Does the word MONOPOLY come to mind? This is just pure questioned speculation and not an accusation by any means. Just the mere networking and communication between all of these cats draws suspicion to themselves. Read some of these below and see if it makes you go hmmmm? http://www.weblocato...tx/law/b07.html Basic Federal Antitrust Scheme Several federal laws govern most of the field of antitrust law in the United States. The Sherman Act The Sherman Anti-Trust Act is the basic federal antitrust statute. It prohibits businesses in interstate commerce from contracting, combining, or conspiring to restrain trade, or attempting to monopolize the market in a particular area of business. Violations of this Act include making contracts that unreasonably restrain trade, price fixing, group boycotts, allocating markets, and attempting to form and maintain a monopoly in an industry to injure competition. Persons found in violation of certain aspects of the Sherman Anti-Trust Act may be fined or jailed. In practice, however, these violations generally are handled by civil, rather than criminal, lawsuits. The Antitrust Division of the Department of Justice (DOJ) enforces the Sherman Act. The Clayton Act The other major federal antitrust law is the Clayton Act. This law specifically prohibits leases, sales, contracts for sale, or other conditions, agreements, or understandings that have the effect of substantially lessening competition or creating a monopoly in a line of commerce. Price fixing, price discrimination, tying, and exclusive dealing are covered by the Act. Congress enacted an amendment to the Clayton Act specifically to strengthen prohibitions on price discrimination. This amendment, known as the Robinson-Patman Act, makes discrimination in price, services, or facilities unlawful for both sellers and buyers if it has a tendency to create a monopoly, to restrain competition, or to violate trade regulations. The Act seeks to assure that businesses are treated even-handedly by the suppliers of their products. It requires that buyers be given an equal opportunity to participate in certain types of seller programs relating to the resale, such as advertising and promotional programs, and that such benefits be disbursed to buyers on equal terms in proportion to their participation. The Clayton Act also is enforced by the DOJ. The Federal Trade Commission (FTC) has co-jurisdiction with the DOJ to enforce this Act, although the DOJ has exclusive jurisdiction to enforce its criminal aspects. Also, each individual state is considered a "person" under the Act who can bring an antitrust action as an injured party or seek injunctive relief. The Federal Trade Commission Act Deceptive statements or acts violate the Federal Trade Commission Act if they constitute unfair competition affecting commerce. To constitute a violation, there must be a material practice, representation, or omission likely to mislead reasonable consumers. People and businesses are proscribed from making false statements about their own products or the products of competitors, if the advertisements or statements have the effect of deceiving or tending to deceive consumers regarding a purchasing decision. The primary goal of this statute is to protect the public from anti-competition. There is no private right of action; the FTC represents the public in lawsuits to enforce this Act.

Coolbeans, NYer, and Sambob... as well as anyone else. I am seriously sick to my stomach as well as appalled by what I have read. Take a look at this site and read down the list on the first page. I just don't understand how people can live with themselves knowing the pimping and pumping of the past and present. http://www.facebook.com/pages/Frankly-Speaking/120459721361013

My apologies if I misread both of your statements regarding this website and their affiliations. I fully support reputable businesses and sincerely hope they are one. I don't know anything about their site and did not mean to imply they were under investigation. I am curious though... Why did you bring this website into this conversation in the first place if it is not affiliated with the concerns of this discussion? I was under the assumption (based on you guys bringing it up) they were owned by the interlinked parties some how. If that was the case, then it would be reasonable to presume that those parties could be investigated in all of their business venture affiliations by the IRS. If a business is raided they would likely look for all affiliated businesses and connections to see where funds move in and out from wouldn't they? Isn't that how they did it with Enron to expose the money trail? If they have no affiliations "whatsoever" then please accept my apologies and I wish them much success. If they don't have relations to the groups involved in the IRS raid then why be so touchy about it? You guys brought them into the discussion not any of us. This is simply a discussion and not a lynching by any stretch of the imagination. We are piecing together various affiliations that appear interconnected, are we not? We are watching out for each other since considerable monies are in play. One thing we have come to realize is that this Dinar investment has exposed numerous vulnerabilities both financially and emotionally to the uninfomed. On this can we agree? I just did a quick Google search and saw that Frankly Speaking on Facebook says you get 50% off if you put the word "Frank" in the promo box. Curiously, was he at that Dinar Summit? Did he have connections to these guys? Maybe you guys would know because I don't. Didn't he have previous ties to at least one of Ali's cash-in locations as someone mentioned earlier in this thread? Didn't he have issues with his other group regarding 503c issues also as previously mentioned by someone? I don't think it is unfair to ask these questions? If there is nothing to hide then they should have no problem being forthright in answering them. They have all been certainly forthright in pushing their imminent RV predictions over the years haven't they? Seems strange a reputable and unbiased business would risk the perception issue that would come with attending a Dinar dealer's organized meeting doesn't it? All of these recent affiliation revelations gives one the impression they have interwoven themselves to create a burlap bag that has been directly been placed over Dinar investors heads. The good news is the truth will reveal itself either way. It always does. Anyone else feel nauseous?

What great advice... go visit the website that is currently under a Federal IRS investigation! Brilliant advice. I see this kinda like an M&M... an alluring pretty candy coated exterior with nice chocolaty under layer but unfortunately there seems to be a NUT in the center of it.

Coolbeans... thanks for all of your investigative reporting. Haha! Seriously, thank you for staying on top of all this. My question for you. This is simply a hypothetical for you or anyone. If one was going to push the idea of purchasing lower denominations how would you drive the prices and the demand up substantially to make more bang for your buck? Don't you think someone could create an interesting market by selling them on EBAY and asking ridiculous amounts for the lower denominations and then make a couple of fictitious sales through their "friends" to lend credibility to the higher values? Wouldn't it be equally interesting if someone making suggestions for lower denomination purchases actually had a preferred Dinar dealer they openly recommended? It's those things that make you go Hmmmmmm?

Mr. Comstock or whomever you are. Many in attendance at this summit group (that your business partner probably organized) have provided EXTREMELY BIASED information regarding the 'inevitability" of an IQD revaluation to impossible numbers and their posts can be found all over the various forums. If any of them are selling Dinar in anyway or linked to anyone selling Dinar whatsoever... I certainly would extinguish any business relations with them if I were you. A quick reading the tea leaves in the last 6 months, it would appear inevitable that the IRS is just the first step until they hand it off to the next federal office. There are a lot of upset people and I think a lot of those pumpers are going to have a heck of a mess on their hands. Look how you are so boastfully affiliated with them and you used the words "and the pending RV". Are you that naive or are you just that stupid? I also find humor in you saying they are "good men" while knowing they are creating a hedge fund. Bit of an oxy-moran isn't it considering what the hedge fund industry helped do to the world economy? OBTW... How many bad loans did Rudy write with his alleged 3 different sub prime mortgage companies he L.O.'d with. How many lives were shattered by his chosen path? Just curious.

So I understand this correctly... which one of you two is Ron Burgundy?

Thanks Pebbs! This country requires MAJOR paradigm shifting to get back on track. We just keep chasing after it pretending the room is clean although all the crap is stuffed under the bed, in the closet, and even behind the gaps in the drywall at this point. It's like watching that show Hoarders and wondering why the people keep bringing home more crap. Hello??? Anyone see a parable there? It comes down to everyone being willing to sacrifice some things and curbing your/our own behavior within that new alignment. It is about people becoming conscious and realizing we are at the mercy of wanting to want. Forget need... it gets fulfilled and we just want something else afterward. Ever notice how afraid we have set up our system of hurting others feelings or leaving people out? Even people that enter our country illegally? Whereby taking jobs, which also take away tax revenue, which also takes away money in circulation because much of it goes back to their native countries? We teach them English, we give them social services, we let them get mortgages with down payment and closing costs rolled in on top...and then we bail them out when they foreclose. What the h*ll happened? When did we become so overly sensitive that we lost our freaking brains in the process? Loved your post! Some are a bit radical but radical ideas are exactly what need to take place to start the paradigm shift. Recognizing the ego within is the first step towards becoming present or conscious. What you point out has the same effect for a nation. It is time to wake from our dizzy slumber America!

Darin... Thanks for your post. The way I understand M2 calculations (strictly from reading on the internet and not first-hand) is that bank reserves, and the DFI account are NOT included in M2 calculations at all. That is what my fear has been all along is that the true amount of currency out there is even larger than the numbers we know. The US doesn't put our bank reserves in our M2 calculations. Hopefully you are right and I misread it. Dinarck... sorry if I stole your thunder. I didn't read all of the posts. Thanks for always bringing a well thought out and different perspective to the discussions. I am just hoping the truth is in the middle of the two extremes. Don & Rocio... Hey there! When Shabs & Co. were trying to find the proper exchange rate that started around 4000 (I believe) it progressively got down to around 1400. The managed float was allowed to drift down into the 1300's and then the 1200's and has stayed in a range of 1190 to 1130 for a few years now. This was the magic number that helped Shabs curb inflation and create stability while building up the CBI reserves. We are saying that it could reopen again in a different value range floating from say 1050-750 maybe. Zero is par or equal to the $1. The closer you get to zero the better. So 100 would be equal to a $.01 RV wouldn't it? 10 would be equal to a $.10 RV. In a sense. I am sure someone will correct me if I am wrong. Dropping down adds value to the Dinar and would strengthen the purchasing power for the Iraqi's which would discourage using dollars in lieu of Dinar. That is what the CBI wants to build a strong banking system and to encourage growth in all aspects. $1 divided by 1170 = .00085 $1 divided by 1000 = .001 $1 divided by 900 = .00111 Now remove the 3 zeros from those end sums and you get $.85, $1, and $1.11 The $1.11 is about what the Minstry of Planning used to calculate their program rate for budgeting. That number confused us all. We are just trying to spot a trend through these articles to figure out what the heck they plan to do. This is basically an RD and small RV number scenario. Not really leading to any wealth unfortunately. I want them to postpone or cancel the RD altogether. Hope that helps answer your question.

I totally agree Dalite! I have always thought the first float would be closer to 900 and possibly down to 750 or so. That would accommodate the Ministry of Planning program rate of around $1.13 (I think) but who the heck knows. That would not help us like we all are hoping. Wait and see I suppose. I am confident we will see some kind of movement in that rate soon.

Hey DV peeps... (read this with an open mind and not that I believe or want a Re-denomination) My thoughts on this based on the articles presented the last couple months are that there are some black market speculators trying to make a quick profit on the fear of the Iraqi's. If they drop the 3 zeros from the currency and exchange rate, as the numerous articles (as written) suggest to the citizens, then 1 Dinar would be equal to .85 cents. Right? Well, it has been widely speculated in numerous articles in Iraq that the CBI would likely increase the rate to match $1 to combat dollarization. So in essence, that is a 15% increase from 85 cents to $1 according to the way the articles have been written to their public. These "opportunists" in Iraq see this, and are putting fear in the public of RD conversion to give them incentive to move to the safety of the Dollar. It is a fear tactic plain and simple. So they pay these citizens Dollars for their Dinar with a hefty premium attached with the intention of holding it until it RD's and then RV's to $1. So the black marketers THINK they make a profit up front on the premium and on the backend when Shabs bumps up the rate. The people that cashed in the Dinar for Dollars now missed that opportunity. To me... I believe Shabs will put a halt to this nonsense. How? Let's see if he moves the rate up at least 15% or more in the next couple of weeks. If he moves the rate then that would take the wind out of the profiteers sails and make the Iraqi's very happy. The Iraqi's would want to hold their Dinar and not the Dollar. This was probably a curveball for Shabs. It may also be exactly what we want to happen to discourage an RD! The GOI might see this trend and stop any RD in its tracks which is what I want! Thoughts?

Welcome Big Jon!!! You are the reason many of us try to search for truth and question others (respectfully hopefully). You see you did your homework and sat on the sidelines watching. You are approaching this grounded as any investor should. You are hoping for a great return as we all are...but you seem to also understand the volatility and discrepancies in information that unquestionably exists. Congrats! Many people now are doing the research before they buy and understand the unknowns up front now. They accept the risk and limit it to what they can afford to lose instead of an "all in" that many people have done. They are cautious when telling others. Thus the Dinar investment is evolving. This investment was once set up as "the investment of a lifetime" or "a sure thing" and erroneously but understandably compared to Kuwait. Thus people bought like crazy and spread the word to friends/family and it became an out of control hype machine. Many have been hurt by their overzealous spending because of the "RVing on Tuesday" pump folks and the cheerleaders that inevitably follow the crowd until they burn-out and go away. This has been proven time and time again. The truth of what can and cannot happen is emerging through math, research, and good ole common sense! Welcome and please help us find legitimate ways this will be profitable for all of us! There are lots of people will to answer questions for you either in your posts or when you personal message them. Be well!!

We hear all of the time how poor off the Iraqi's are. Look I totally agree they are still in a world of hurt but I think you might find it interesting how much they have improved since 2003. Granted the unemployment is still terrible and they still only have electricity a couple hours a day for the most part but lets take a look at some things. I try to put things in perspective and make people think for themselves. Hopefully you find this stuff interesting as I do. Be your own Guru! Average Iraqi income per capita in 2003 $450-$610 a year! Unemployment was around 50%! (Sources: World Bank, Menafn, Memri Economic Blog, CIA World Fact Book ) Average Iraqi income per capita in 2010 $2320-$4400 per year! Unemployment was around 15.3%! Projection: Average Iraqi per capita income in 2016 $9000 per year Unemployment I would assume less than 15.3% with projected countries growth. So it kind of makes you think... in 13 years (from 2003 to 2016) the income would have jumped from $600 to $9000 or aka 15 times that amount. http://peacefuljusti...2003-10/5.shtml Iraq's economy declines by half by Steve Schifferes September 17, 2003 The security situation is still critical The scale of the task facing the United States and the international community in Iraq has been highlighted by the first detailed figures since the conflict ended on the state of the Arab country's economy. Iraq's economy will shrink 22% this year, having fallen 21% in 2002 and 12% in 2001, the United Nations and the World Bank have estimated. The figures, which have been published ahead of a major meeting of donor nations, suggest that reconstruction work in Iraq will be slower to take effect than originally hoped. Average income in Iraq fell from $3,600 per person in 1980 to between $770 and $1,020 by 2001 and will be just $450-610 by the end of 2003, the UN and World Bank said. Even by the end of 2004, the two organisations estimate that average income could be lower than in 2001. Plans to restore oil and gas production, refining, and pipeline capacity remain unclear World Bank The figures are contained in the latest version of the World Bank's Joint Iraq Needs Assessment which is to be presented to international donors on 23 October. The wide range of estimates reflects the uncertainty over the effects of the war and international sanctions, and the lack of records in Baghdad. Mass unemployment The biggest problem facing the Iraqi economy is mass unemployment, with an estimated 50% of the population either unemployed or under-employed. The government employs 30% of the workforce, and many of those work for the inefficient state-owned enterprises, who employ 500,000 (with an additional one million working directly for the government) IRAQ'S ECONOMY 2001: $19bn - $25bn 2002: $15bn - $20bn 2003: $12bn - $16bn 2004: $15bn - $20bn Source: World Bank But the World Bank warns against immediate action in closing down the 192 state enterprises, and says they should be kept going to "preserve employment and social stability" before being prepared for possible privatisation in four or five years time. And more than half the population remains dependent on government food aid, which costs the country $2bn each year, to prevent malnutrition and starvation. "Food aid will need to continue in the short-term until critical pre-conditions are satisfied, including safety net plans to ensure to avoid uncompensated price impacts on income and negative impacts on the vulnerable (particularly women and children)", the report says. Oil revenues The key to the Iraqi economy remains the output of the oil sector, which makes up more than half of the total economy. The Bank points out that its growth estimates for 2004 "will depend critically on the restoration of adequate security, the normal functioning of basic utilities, and the expansion of oil production". The oil sector is also the main source of government revenue, with the new Iraqi budget assuming that oil production more than doubles from its current level of 1.3m barrels per day to 2.7m barrels per day by 2004, producing an export income of $12bn. But nearly all that income will be absorbed in the costs of paying salaries and subsidies, with only $1.4bn available for reconstruction investment. The World Bank warns of the "non-negligible downside risk" that a fall in oil prices will lead to a big budget deficit, and urges the government to diversify its tax base. And there is widespread concern over the lack of plans to restore and develop the oilfields, which contain the world's second largest oil reserves. "Plans to restore oil and gas production, refining, and pipeline capacity remain unclear," the World Bank says. Oil is the one sector that the Iraqi government made clear it would not be opening up immediately to foreign investment. Slow reconstruction There could also be problems in absorbing any funds that the international community provides for reconstruction. The report says that even if the international community pledges the full amount of $35bn it says is needed to rebuild Iraq over the next four years, only around $5bn could be spent in the first year, 2004, due to the lack of institutional capability. It estimates that spending would rise to $8bn to $9bn in subsequent years, based on its experience in other post-conflict situations. That estimate does not include security or oil sector needs, estimated at an additional $20bn. Paradoxically, this figure could make negotiations easier among potential donors. Later this month, governments and international agencies meet in Madrid to discuss financial contributions to rebuilding Iraq. Early indications had suggested that few governments other than the United States will make substantial pledges - but a target figure of $5bn in 2004 will seem far less daunting than the overall medium-term estimate of $55bn. http://memrieconomic...t.cgi?news=4307 Iraq: Per Capita Income To Rise To $9,000 In 2016 03/01/2011 The central bank of Iraq projects a per capita income in Iraq of $9000 by 2016, rising from the current level of $4,400. Presently however, there are about seven million Iraqis who are reported to be living below the poverty line. [Editor's comment: A target of $9,000 per capita is within reach if Iraq succeeds in raising its oil production from the current level of about 2.5 million barrels/day to five to six million barrels/day in the next five years which also appears feasible. What is questionable is the figure of $4400 given as the current per capita income. The figure could be arithmetically correct but it does not take into account the widespread and vast levels of corruption which deprive a large segment of the Iraqi population of a fair share of national income. ] Source: menafn.com March 1, 2011

Hey Sonny... Are you saying that all Kuwait obligations and things like the completion of oil metering systems at the wells are no longer requirements of UNSC? Does that mean they fall under just a general contract of some sort because clearly they are still issues needing to completion. Who polices it if Iraq defaults on the Kuwait obligation if so? I would have thought the UN would want to hold some leverage but who knows.

Silly Rabbit... Trix are for kids. Thanks Yosemite Sam... Or should I say Yoda! Great to see you around my friend! Say hey to the wifey. You will be happy to know I am typing this with my fingers and not my toes.