drox

In a related story: Ron Burgundy and his news team regained the #1 local news rating after a "discussion" with competing news teams in the alley out back.

Horns... I say sell if you must. This is going to take a lot longer than people realize and you are in a bad spot in REAL life. Take care of what is in front of you first and foremost. I am not trying to dampen anyone's hopes but this is not an overnight RV like guru's are telling you. This will be here when you turn it around again and can purchase what you can afford to invest . Good luck to you. I would suggest you offer it for sale on this board and you might get a better rate. I stopped buying 2 years ago but I know there are many here that are still purchasing.

Exclusive Interview with P.M. Noori Al-Maliki 08 July, 2011 11:25:00 In this episode, of the program, and via its producer and presenter, Dr. Mohammed Al-Ta’ee, went to the office of P.M. Noori Al-Maliki to conduct an exclusive interview with his Excellency. At the beginning of the interview, and in reply to a question, by Dr. Al-Ta’ee, about the statements of the House Speaker, Mr. Osama Al-Nojayfi, regarding the forming of “Al-Sunna” Province in Iraq, the P.M. explained that these statements came as a surprise, because it involved talking about secession and the division of Iraq, which constitute a breach of the oath and the adaptations of the political process; thus that formed a shock to everybody. Then, he added that frustration is a common state among all parties in the political process, but in varied ratios; and that this frustration is a natural product of what the political process is witnessing. He, also, pointed that secession is not a solution for the situation, and cannot remedy the frustration; adding that the Iraqis refuse, with conviction, the nation of secession and the division of Iraq; and that the idea of secession is a loss for whoever adopts it, and is not in the interest of any side; because to forward the idea of secession will, greatly, endangers the political process; especially that the National Partnership has been achieved via coming to concurrences on the posts, and that naming the security ministers has been agreed upon to be as per the components and not the blocs, which does not need such a delay to be settled. As for the Strategic Policies Council, he said that this Council came as a result of an agreement to console a certain side; adding that the demand for a role for this Council is against what was agreed upon in the initiative of the President of the Kurdistan Province; commenting that the disagreement between the National Alliance and “Al-Iraqiya” is in accepting the other, and that there can be no partnership without accepting the other. The P.M. refrained from replying to the statement made by the head of the Iraqi Coalition, Dr. Ayad Allawi, and considered that as a waste of time; and said that he is not going to sue Dr. Allawi; adding that many prominent figures in “Al-Iraqiya” denounced that statement as well as, the recent statements of Al-Nojayfi. As for the steps taken to thin-down the Ministries, the P.M. explained that he has formed a frame for the needed Cabinet; and added that some ministries do not need any House legislation, because they do not have a special law. Then, he mentioned that the Government may head towards merger. He, also, said that the thinning process will be in two stages, where the first will involve the ministries that do not need a House legislation; and the second will be for those ministries that need a House legislation, in order to merge them with other ministries; and by that the number of ministries may be reduced to (25), which will be formed according to standards of professionalism in the actual need of each ministry to enable it to perform its tasks. Then, added that this thinning will be done according to concurrences and negotiations with the blocs; where no bloc will lose its dues in the forming of the Cabinet. He, also, pointed that the needs of the Ministries, for carrying-out their projects, remain greater than their allocations in the Budget, however large the Budget is; thus the Ministries ought to execute the projects according to what is available and to focus on what is more beneficial to the Citizens; adding that he has comprehensive studies regarding the Ministries, their duties and what they must do; and that the end of the (100) days project does not imply the termination of following-up on the work and the performance of the Ministries. Al-Maliki assured the continued work on recovering the Iraqi funds abroad; and pointed that there is a suspicion of a manipulation in the Iraqi funds during the time of the “Civil Rule Administration”. Then, he stressed that the Iraqi People has the right to know the fate of these funds; saying that he has, also, directed the concerned legal departments to re-consider the state of the funds spent by the successive governments, post the Liberation of Iraq; and how the criminal charges, against those found guilty of corruption and stealing public funds; were dropped. In that he confirmed that actions will be taken to recover the Iraqi funds, and to re-open any file connected to stealing and embezzlement of these funds. At this point Dr. Al-Ta’ee conveyed to the P.M. the Citizens’ inquiries regarding his authority to endorse the death penalty sentences; who said that he has no such authority, and disclosed that certain parties, which he did not name, worked, via a House decree, on taking away this authority from the P.M. to be given to the President of the Republic in order to prevent applying some of these sentences; and pointed that this problem was solved when the President authorized one of his Deputies to endorse them on his behalf; thus many sentences were endorsed. Regarding the demands of the families of the martyrs of the crime against the “Al-Dejail” wedding procession, conveyed by Dr. Al-Ta’ee to the P.M., to have the perpetrators of the crime be executed in a public place; the P.M. said that he would want to have that done at the location of the crime, but the legal procedures prevent that; adding that it is agreed that these families may witness the executions and that if the Judiciary agrees on a public execution, then that will be done. Then, the P.M. returned to the issue of thinning the Ministries by emphasizing that the blocs must agree on that; and confirmed that the thinning will not affect the blocs’ dues; adding that he believes that the House will agree to the thinning, because it is a political and public demand. As for the security ministries, he expressed his optimism to see an end to that, and expressed his consent to the nominee, by Al-Iraqiya, for the Ministry of Defense, whether it is to be Sadoon Al-Delaymi or Khalid Al-Ubaydi. Regarding the shape of the political system in Iraq, Al-Maliki, explained that he was the first to call for a Presidential System in the Country; but going to that demands a constitutional amendment and a public referendum. He, also, drew the attention that the Parliamentary System is good, and there will be no problems there, if the political arguments and strives exist no more and all agree on patriotic work. In connection to the expected U.S. withdrawal, and the extent of the readiness of the Iraqi Forces to take-over the security file, the P.M. stated that he has notified the blocs’ political leaders and the Presidency that the Iraqi forces are prepared to maintain the internal security without any logistic support from anyone; but Iraq needs arms to be able to safe-guard its borders, and that will be achieved by (2020). He, also, confirmed that the security forces have high capabilities, and are able to face any internal dangers that threaten the country, without the aid of the U.S. Forces. Then, added that the Iraqi Forces have managed to capture, nearly, (150) terrorists and disarmed tens of explosive devices that the terrorists were intending to use in targeting the Visitors, during the Visitation to Imam Al-Kadhum (Peace be upon him). Regarding the disputed upon regions, Al-Maliki stressed that returning to the state of fighting among the components of the Iraqi People is refused, and that the said regions have a constitutional dimension and can, only, be solved through the Constitution; thus he assured the refusal to have the U.S. Forces stay in these regions, in the pretext of fearing the outbreak of fighting between the Arabs and the Kurds, he said that this is being dramatized, in order to justify the staying of the U.S. Forces and to contest the ability of the Iraqi Government to secure the state of these regions. Then, Al-Maliki pointed that the first National Reconciliation Conference is an important step in the road to achieve reconciliation, but he added that some have entered in the reconciliation project to do harm; and that, who indulges in this project, must sign on a joint pledge document that commits everyone to this project; adding that the Conference will include the groups that declared their entry into the National Reconciliation Project. At the end of the interview, the P.M. expressed his optimism regarding the future of Iraq, and assured that Iraq has overcome the most difficult circumstances, and is living, today, the atmosphere of freedom and democracy, and is on its way towards advancement. Then, he thanked Al-Fayha’a Channel for its stands, its solicitudes and its commitment to the patriotic path in executing its media mission. http://www.alfayhaa....EDOM/61433.html

Another awesome article Blonde_minx! This should be in the news section so people don't miss it. Here's an interesting question for you guys... I understand they want to do bonds to restructure debts, but... Don't bond sales also have a vital role in reducing the money supply??? So... if they are "planning on Lopping 3 zeros why would they want to reduce the money supply further? Won't it go from 28 Trillion Dinar to a value of $28 Billion essentially? That is a small M2 in comparison to neighboring countries. Why drop it further? Unless... they are considering NOT lopping and finding ways to reduce the money supply organically? That makes sense with the whole 100k notes coming out!

This is HUGE! They have the 2 glaciers moving finally. It is a deceptive article though. The title suggests they have been restructured but I think they have only completed the final plan of how the restructuring will happen. This is a vital function to support international banking. Hopefully the implementation will happen quickly without the GOI in charge of it. Great article thanks!

Awesome find Markinsa!!! Guys this person that wrote this is more in the know than you realize. I think he is spot on with his assessments! In the USA we often criticize our Fed chief for the long term effects that occur from short term decisions or solutions. So much that many of us have become educated on how the Fed works, who owns it, how Dollars are created, how fractional banking works etc. Well this guy is speaking out in much the same way only against Shabs and the CBI. He is dead on right about much of it. The IMF is a bit of a puppet master and uses these "opportunities" when countries get in trouble to put in their beneficiary's interests (the member countries of IMF). In the need to borrow money and to reduce their debts, Iraq agreed to the frameworks laid out by the IMF and World Bank and the stand-by arrangements. The IMF engineered "production sharing agreements" for a significant portion of Iraq's oil production that put 10's of billions of Dollars in the Paris Club members hands. The "agreements" will last 30 and 40 years in many cases. So when George Bush said it will pay for itself. This is partly what he was talking about. This economist's perspective does not agree with a LOP. It lends itself to my plan B theory very well. As I read it, it said by making 1 Dinar =$1 Dollar it simply locks in all of garbage hyperinflation from the last 20 years by throwing make-up over the pimples. Instead of fixing the pimples. Just because you cover them up doesn't mean they are not still there. Iraq basically will hand cuff themselves to future growth rates. He says it is a waste of the public's money. That there are benefits to keeping a low exchange rate to the dollar as many nations have... like Japan. Why have they chosen to not bring up their nominal rate? Because they are not at the mercy of the IMF. They act as their own decision making body and their are benefits. Re-read this section about the benefits to not LOPPING. I think they are great arguments. Iraq will have a greater chance at currency appreciation without a LOP basically.

Blonde_Minx you continue to bring great articles in thanks! HCL is huge for lots of reasons. The Kurds are going to show what pains in the butts they are now watch. They are playing nice nice acting like they want to be helpful but they are going to create demand issues again. I hope not but Maliki never sticks to his word as we all know. Watch for new articles regarding census again. I am hoping that they will start the census again soon so that they can get accurate head counts. Kirkuk is going to be the major issue to overcome. If they can get the census done they will have accurate information for oil revenue distributions of funds to local governments and hopefully onto the citizens. If they all hold a share in the oil they will not have as much need for sectarian politics. They will protect there assets with pride. A more peaceful and cohesive Iraq is the best chance for major changes financially for us all. IMO of course. Right Hydrant?

Fore! Anyone see a Titliest ProV1 #2 around here? Sorry I accidently hit into your guys fairway.

Sorry just saw this. I agree with you. Oil certainly is an asset and it may provide some strength arbitrarily for sure. But...I don't think they can use that opportunity asset as to value their currency at a higher rate at all. I am no expert though. Not to mention that the IMF already is profiting from the set-up they created in negotiating the Paris Club arrangement. The world has Iraq over a barrel already! They created "production sharing agreements" for Iraq's oil that basically means they have control over most of Iraq's oil production. They essentially "share" it. These agreements can last 30 or 40 years. Iraq loses 10's of Billions of Dollars each year because of these agreements. The IMF has already assured that the elite in society are benefiting from Iraq through this long term PSA's. I think E8's theory is a stretch to say the least but I like the effort. Hope he right though! I think he would be better suited concentrating on how to stabilize the country, reduce unemployment by 20%, improve security, and stop corruption. That will get the money and economy flowing.

I think people need to stop and question his departure. I realize many people like the guy. Sure seems fishy he would just move across the pond with the empire he built here. Sometimes the nice ones are the scariest. I can't prove any wrongdoing or bad intentions took place. But... I would suggest it is worthy of further investigation as to what the truth is. Ali may not have ever expressed that an RV was imminent but his actions feel as though he implied one to me. The fact that he went on so many sites to discuss payout procedures alone has always been alarming to me even though his words were carefully chosen. That he allegedly created numerous cash-in locations across the world with tight security and police arrangements. That he said you could cash-in for precious metals arrangements. That he had a 10% layaway program suggests a get rich quick RV. Why else would anyone do that? The fact that he wanted to buy a bank in Iraq (conveniently leaving out that it costs $85 MILLION minimum to do) sure gives one pause that he suddenly just left. To claim you are going to create a bank would sure build a lot of credibility for one person that peddles Dinar dreams for a living. Anyone find it interesting he left when the flood of LOP articles came out? That in his sudden departure he no longer would be able to offer his buy back program? That his email he recently sent out is suggesting they are now selling Afghan, Korean, and Vietnamese currency. Hey he has an audience now to do it all over again. I think he owes people an explanation for his departure because it sure looks fishy to me. Hopefully it is all legitimate and nothing to worry about. He always seemed like a "nice guy" to me.

Haha... I see you have been converted. Too funny. Hopefultxn and Dinarck nice work. Guys... Enoch8 lays it out in a simple explanation for all to understand. Did you see it?

Invest: to put (money) to use, by purchase or expenditure, in something offering potential profitable returns, as interest, income, or appreciation in value. If you truly consider yourself an investor, then comments or predictions made by anyone claiming to have information should not bother you one way or another. The very nature of the word invest means to WAIT over time for a POTENTIAL and HOPEFUL return. So if you have the mind set that in time your investment will pan out what are you worried about? Why would it matter what anyone tells you? Sonny1 is an analyst or is of an opinion for this investment. He is not the man that pulls the strings or that initiates the return for you. So really the problem isn't anyone's other than YOUR own perception. If you treat what someone says as a fun notion that you hope leads to your return that would be fine (investor's perspective). If you take info in as gospel no matter how matter-of-fact they sound then you will only bring your heart agony (gambler's perspective). So ask yourself.... ARE YOU AN INVESTOR OR A GAMBLER? I would suggest you put this investment in a long term frame of mind and if it happens faster then that would be awesome. If you do that then I promise you that you will not care what others predict if it should not come to pass.

With all due respect, I am not sure how in the world you interpreted that from the article but that is not at all what it is saying. Maliki knows that corruption will be a major issue with Parliament in future months. Wouldn't it be better to have a hand picked crony in that position to help you hide your corruption? Every human on Earth can see he lies and manipulates to get his way. He has an unhealthy agenda that focuses on keeping his people down. He wants them poor, fearful, and needy. He is stalling for the Americans to get out and is trying to put them in a political pickle. He plays all sides but does nothing. He is a worthless wannabe dictator. The State of Law party has even rebelled against him saying he was a nobody that they made into a somebody and now he thinks he is a God. Maliki understands his greatest tool is the power to say NO and his ability to defeat his rivals through ATTRITION. It is clear to me that Maliki suffers from a severe personality disorder and that makes him a very dangerous man.

So what the heck is going on here... This articles says $50 Billion in the DFI. This article above says $250 Billion which you can read the article in full with the link provided. It was also dated July 04, 2011. Then you have this: http://www.iamb.info/pdf/DFI%2031%20December%202010%20English%20-%20Final.pdf It says at the end of 2010 it had $7.5 Billion in the DFI and at the end of 2009 it had $9.9 Billion. So how much is in there transferring from the DFI and which article is telling the truth???

Can anyone give me further clarification on this article's legitimacy? I read a few places that $250 Billion was the cumulative number of deposits in the DFI account over the last 8 years. The yearly auditing shows these deposits went in and came right back out at year's end. Each year had a remainder somewhere between $5 Billion - $8 Billion. If you look at the annual amounts of the oil revenues and added them together you would be close to that $250 Billion figure. So if the money went in each year and came out at about the same amount... where the heck did this money come from? This would be huge and I would be so happy to have been wrong on this. Anyone know? Is this from frozen assets that were unaccounted for by the DFI previously? Wow!

As Forrest once said, "That's good, one less thing to worry about". Now I can go give Bubba's momma Bubba's half.

Hahahahahahaha!!! Priceless! Hey TJ... slip Granny some Red Bull and you know.... tell me what happens.

Dinar-racer... To answer your specific question the answer is NO. They don't have to. While I am not convinced that 1170 is anything more than an arbitrary number that stuck, they don't have to do anything on the exchange rate right now. There is value to it but it takes a lot of it to pay for things. So it is really a pain to use at it's present value. Iraq needs to fix the things that are broken for the wealth to flow in. They need employment, infrastructure, security, better banking and to lend to the people. They need the GOI to pull its head out and start passing laws like the HCL and a modified investment law that focuses on corruption issues. Throwing money at it now will only compound the problems that exist and deepen the divide of social classes in the country. I wouldn't rule out them bumping the rates up slightly though. To appease the angry crowds but that won't help them with the core issues.

Great find! This should be pinned at the top and is a must read! This tells you all of the basic things that need to take place to support a future increase to the exchange rate. You must build the foundation first before the house. I wish in this case it was the other way around. I truly do.

FNB... interesting question that brings up more interesting questions. Why can't the Paris Club debt be paid through the DFI account as a wire transfer? The money is already in Dollars and all the oil revenue flows through the DFI and back out again anyway. International companies working in Iraq are paid in the currency of their origin or choice usually. So the British company would want to be paid in Pound Sterling. The contractor does have the choice to be paid in the host countries currency if they felt like the exchange rate was in their favor though. I think the same principle will apply with paying the Paris Club debts. Most likely, I think at this point the DFI would pay it directly to the IMF and then re-distribute it from there. The interesting thing to me is that it makes me think about the DFI deposits and wire back to the GOI. Does that happen in Dollars? Somewhere in that process is a currency interbank exchange mechanism of sorts. So does the US Fed automatically hold some dinar reserve for this exchange? Could prove the US really does "own" Dinar.

Thanks for always bringing interesting articles DRV. In your search can you keep an eye out for clarification on the above statement for me maybe from competing news reporters. I would like to know how much the total capital or average amounts deposited of banks currently in Iraq. This tried to tell us but it seems Google translation didn't do it justice. If this says $1 Billion 600 Million that is a pretty low number. Thanks again.

Thanks. I think many of the "doubters" are really "enlighters". They simply shine light on the investment and educate others in an investment where opportunists and cons dwell. I think they are motivated by helping others from being hurt over and over again from obvious lies. I think they are a breath of fresh air and encourage people to do their own research. I think they bring credibility to the investment. I would suggest to you that those people want this investment to pan out every bit as much as yourself. I hear what you are saying though. The truth is most likely this will take time to see returns but people don't want to hear or believe that. So if someone lights a realistic path and backs it up with hows and whys...it has a small audience and you get labeled a doubter. A doubter this won't make you a 300,000% return? Isn't that what a doubter ultimately means? Don't you think that if that kind of return was truly possible that these forums would be flooded with Wall Street guys? In regards to Adam... I think he would puke at the idea of being labeled a guru because guru is a mock word. I see him as an educator, researcher, investor, and site business owner. He brings leadership and tools to the table. Ray Kroc wasn't in the hamburger business... he was in the real estate business. Think about that for minute.

mrsonnyr... hey there It took me a bit to see what you were saying. First off... I am no expert when it comes to accounting so I welcome anyone with differing views because I could be wrong. With that said, I think the numbers you are referring to in interest are part of the explanation on the funds from the OFFP (The oil for food program) only. That is a much smaller subset of the oil export receipts of the DFI account. Numbers are "only" in the millions versus the export oil numbers which are in the Billions. It would appear that they purchased T-bills in the large DFI account as well as the smaller subset account which is partly the Oil for food program. So both program invested some of their balances in short term Tbills investments. I believe that the total amount that has ever gone into the DFI is around $250 Billion since the inception in 2003. My personal belief is that their isn't any money floating around that Shabibi has in a separate account. I think certain news article translations just make it sound like there is $250 Billion sitting in there unfortunately. If they had large portions wouldn't it make sense to just pay off the full Kuwait debt of the remaining $20 Billion? I will say that some alleged $17 billion has been missing for some time. At one time it was rumored to be over $40 Billion and some accounts had it lower around $6 Billion. I believe that money is being enjoyed by former corrupt ministers in interior, electricity, social services, and a couple others from a Swiss account somewhere. I also personally believe M is behind a lot of that. Notice how he is having a hard time appointing Ministers of Interior, Security, and Defense? Kinda makes you go hmmmmm? Be well and thanks.

Thanks for finding this Fishman... I have taken my lumps for over a year trying to let people know there wasn't that much in the DFI at any given time. Even lost a couple close buddies on here. Unfortunately, the DFI is a flow-through auditing and protection mechanism and not a savings account. The majority of money flowing through it goes to the ministries and to pay for GOI services and infrastructure projects. It had $6 billion at the end of 2009 and it has $7.5 billion at the end of 2010. The gurus have all been mistaken on this! All of them! We do not need the DFI fund for a revaluation of the Dinar. Hopefully people will start to realize that an RV will happen gradually through time in smaller chunks as Iraq improves itself and is able to sustain and support higher rates. This is a longer term play but has the potential for really nice returns. We just need them to figure out a LOP is not the answer. A LOP would limit their exchange rate future growth potential IMO. The 100,000 Dinar notes are a great indication they are postponing and hopefully eliminating a LOP. Saleh is a magician. He has you looking at one hand holding the top hat while the other is behind his back hiding the rabbit.

Love it Thurman!!! Well said as usual. Although I wouldn't mind if some folks didn't spread the word so much to everyone that this is a "snooze or you lose" investment. If you have no vested interest why are you here? Can't you go join your neighborhood watch program or something to get your noble fix? Bizarre.