Doc31 Posted March 2, 2010 Report Share Posted March 2, 2010 What follows is an email from our God-daughters' dad who is a contract firefighter stationed in Iraq. Nothing earth shattering but confirmation that news has filtered down to Iraqi citizens/merchants that the RV is coming and what they believe it will mean for them as well as the RV rate that they believe is coming. Again, only one man's opinion (a kiosk merchant) ... the firefighter is known to me and my wife (a first rate guy and firefighter) who holds dinar and has consistently increased his investment because according to him (in a previous email), "...I have seen the oil seeping out of the ground in this wasteland and that's not even counting all the natural gas. Like I told her (his wife) the one thing I'm sure of is we are not going to lose money it's just a matter of how much we are going to make! Thank you for sending me all the info. ( I read everything ) and I'm looking forward to having my girls college and first cars paid for in the near future...take care "Here's the emailI spoke to one of the local Iraqi shop owners on base --you know the guy's that sell the soldier's goods, sundries, stuff, ...anyway ,I asked him what he thought was going to happen with the dinar and he got pretty psyched --and went on to tell me that it's been all over their local news about the sanctionsbeing lifted and that they are due for a dinar RV.. He thinks it will happen around mid summer..I tried to get some more info fromthe guy but it was hard to keep him on topic---he was more interestedin giving me a history lesson on what the dinar used to be worth and how he and the rest of his family will be very wealthy when they do RV...Hewas telling me ( in his opinion ) that it will match our money dollar to dinar..and heexpected it to be back to a pre Saddam value within 5 years....I hope he's right..anyway , I will try to pick his brain again in a couple days..he speaks English well,so let me know if you have any specific questions I should ask..oh yea, I forgot that you and Shirley put Dinar aside for your Grand kids education. when I made the comment about havingcollege paid for I was thinking for myself.....still getting used to this Father thing. It's funny howit changes you. I think of everything in long term now...as long as my 3 girls are secure and happy I should have it made. talk to you later, M******* 1 Link to comment Share on other sites More sharing options...
bahtman Posted March 2, 2010 Report Share Posted March 2, 2010 Doc31,Good info. Thanks for the post. Link to comment Share on other sites More sharing options...
whisky runner Posted March 2, 2010 Report Share Posted March 2, 2010 thanks for the good news out of iraq ... i blieve the same ... when oil fields are opperational and putting out 8 to 10 million barrels a day ...see dinar at top exchange Link to comment Share on other sites More sharing options...
longpalms Posted March 2, 2010 Report Share Posted March 2, 2010 Nice post. I enjoy hearing good things---be positive!!!! Link to comment Share on other sites More sharing options...
penski Posted March 2, 2010 Report Share Posted March 2, 2010 Thanks for info, let the oil flow and RV GO. Link to comment Share on other sites More sharing options...
Nance Posted March 2, 2010 Report Share Posted March 2, 2010 Genuine post - thank you for the information. I find it interesting the merchant does not see this till mid summer though. Does not seem to be much urgency... Link to comment Share on other sites More sharing options...
Andy Posted March 2, 2010 Report Share Posted March 2, 2010 thanks for the post. Link to comment Share on other sites More sharing options...
gregg450 Posted March 2, 2010 Report Share Posted March 2, 2010 Thank you for sharing. I believe it will happen before that though. I think there is to much happening in to short of a time for something not to happen really soon. JMO Link to comment Share on other sites More sharing options...
marc2 Posted March 2, 2010 Report Share Posted March 2, 2010 It will RV in JUNE..I just keep saying this for no real reason Link to comment Share on other sites More sharing options...
kl3668 Posted March 2, 2010 Report Share Posted March 2, 2010 Thank you for the post, but did the merchant mention anything about raising prices in his store. Link to comment Share on other sites More sharing options...
squawk7500 Posted March 2, 2010 Report Share Posted March 2, 2010 Interesting post - but I wonder how Iraq will have to start paying Kuwait back as the UN Sec Council dictated on Dec 21 of 2009 - they said Iraq will have to start payments by April 1st of this year. With the Dinar so low I'm not sure how that's possible. Link to comment Share on other sites More sharing options...
jo-jack Posted March 2, 2010 Report Share Posted March 2, 2010 It's gunna happen around their elections Link to comment Share on other sites More sharing options...
Marketplace Leaders Posted March 2, 2010 Report Share Posted March 2, 2010 Thank You, sounds good but, did he say he was raising prices like the previous intel suggested, as if to say the rv was happening soon. Just sounds like he believes it will rv like the rest of us, however if we have to wait until summer that's ok as long as it goes in our favor, and it seems that way. Link to comment Share on other sites More sharing options...
CaptainJack Posted March 2, 2010 Report Share Posted March 2, 2010 I think the people in the chat rooms are the only ones that are urgent .... oh ... and all the so called experts with inside intel about this weekend, next monday, etc. which NEVER HAPPEN because its mostly fiction no rv until after the elections .... at the earliest .... keep in mind no matter who gets elected, there will probably be a period of violence/bombings, etc. as a form of protest by the losing parties, Kuwait must be passified, they must get out from Ch. 7 and they MUST produce OIL REVENUES to justify having a highly valued currency..... and it will take a few years to reach the $2 - $ 3 range. Link to comment Share on other sites More sharing options...
dklll Posted March 2, 2010 Report Share Posted March 2, 2010 next 30 days Link to comment Share on other sites More sharing options...
UMPgolfClub Posted March 2, 2010 Report Share Posted March 2, 2010 Iraq looks to local and foreign investment to build its economyTrading floors are known for being volatile. Those who think they're tough should try navigating the Iraq Stock Exchange.On Jan. 12, the Tuesday trading session was cancelled. Intelligence reports pointed to a planned suicide attack somewhere in the capital. As a precaution, authorities ordered a strict curfew on Baghdad."The stock exchange has called off its session on Tuesday because of the inability of its employees to reach their workplace," a source told the Aswat al-Iraq news agency in a bit of an understatement.And New York City investors thought midtown traffic was inconvenient.This isn't the first time Shwan Taha, CEO of Rabee Securities, one of Baghdad's oldest and largest brokerage firms, has seen trading suspended. Of course, it's nothing compared to 2006 when it lasted for months during what the United Nations called a "civil warlike situation."Today, Taha sees that relatively more security in the streets means the same for his investments."On the exchange, the largest sector is by far the banks," he explains while e-mailing stock reports over a problematic Internet connection. On this day, the Bank of Baghdad closed at 1.98 Iraqi Dinars -less than a penny US."Then there is the tourism sector," he says. "But, that's really more real estate when you get into it."Taha knows the intricacies of this market. After all, he has traded shares in Baghdad since its first exchange opened in 1992. Back then it was the Baghdad Stock Exchange. Under the rule of Saddam Hussein, it provided a prosperous living."It operated well until the invasion at which point it was closed. Then squatters moved in for a year," says Taha. "The U.S. tried to reopen it. But, reopening was a fanciful thing. They couldn't manage it. They were incompetent."Without a formal system of trading, brokerages set about creating their own private exchange. In June 2004, the Iraq Stock Exchange opened with 15 listings. Today it has about 90 companies and recently moved to electronic trading."It's the same system that the NASDAQ uses," says Taha. Although, he acknowledges it can't rely on the country's battered power grid that leaves Baghdad in the dark unexpectedly and for long periods of time. "You have to factor in that the computer system and servers can't go off. So, the exchange runs on generators. Trading only happens for two hours a day."As a backup, the old system remains in place -white-boards and dry-erase markers. Throughout the exchange building, a former restaurant in the heart of Baghdad, hanging boards represent each company listed. Traders, mobile phones pressed to their ears, crowd these boards, writing and erasing notes to buy and sell.It's a definite skill that requires a fast hand and a shrewd eye. Now though, investors can verify their trades on the spot rather than waiting two weeks for certificates. That's something Taha hopes will bring in new investors."We definitely cater towards foreign investment. We've seen an uptick, especially frontier funds," he says. "But, the global custodians of the economy have not been to Iraq yet."Iraq is still tiny compared to established markets in London and New York. By the end of 2008, the ISX had traded only $270 million compared to the NYSE's $16.7 trillion. But, in spite of the non-market volatility, many hope local and foreign investment will boost the nation's economy.On the last day of January, despite the delay earlier in the month, the index was up 1.16 per cent. As Taha predicted, the banks dominated the trading. But, Tourist Village of Mosul (HTVM) represented one of the biggest gains, up 10 per cent on the day.For people like Taha, this only proves there's money to be made at the ISX. Of course, the investment may be a little more high-risk than usual.Craig and Marc Kielburger co-founded Free the Children. The goal of the organization is to free children from poverty and exploitation through education. Link to comment Share on other sites More sharing options...
cgbrown Posted March 3, 2010 Report Share Posted March 3, 2010 I am interested to know, if the merchant has changed his prices. If your friend of a friend, or whoever is really a customer he would know if the prices have changed. Why is it so hard to get confirmation? If prices have indeed changed it would be a positive sign that the financial structure is changing. Can't someone answer the question without 'himhawing' around. Link to comment Share on other sites More sharing options...
krucialmix Posted March 3, 2010 Report Share Posted March 3, 2010 Great real info. Thanks for posting. Link to comment Share on other sites More sharing options...
meinekeman Posted March 3, 2010 Report Share Posted March 3, 2010 Thanks for the good information. I hope that it is sooner than later.meinekeman Link to comment Share on other sites More sharing options...
terr Posted March 3, 2010 Report Share Posted March 3, 2010 It sure seems strange to me that with in two days M mentions rate, and S does. Is it crazy to think it may be announced on the 7th of March, election day? Link to comment Share on other sites More sharing options...
czeitner Posted March 3, 2010 Report Share Posted March 3, 2010 Thanks for the post. Hope it comes, sooner than later. But if it doesn't, I will just have to keep buying more. Link to comment Share on other sites More sharing options...
taco Posted March 3, 2010 Report Share Posted March 3, 2010 summer sounds good to me thanks for the news Link to comment Share on other sites More sharing options...
NineLives Posted March 3, 2010 Report Share Posted March 3, 2010 The sanctions are not lifted.It is not all over the news as the email states. 1 Link to comment Share on other sites More sharing options...
NineLives Posted March 3, 2010 Report Share Posted March 3, 2010 I am interested to know, if the merchant has changed his prices. If your friend of a friend, or whoever is really a customer he would know if the prices have changed. Why is it so hard to get confirmation? If prices have indeed changed it would be a positive sign that the financial structure is changing. Can't someone answer the question without 'himhawing' around.NO,...merchants have NOT changed their prices. That rumor is false. Business is carrying on as usual with the same prices as before. 4 Link to comment Share on other sites More sharing options...
cgbrown Posted March 3, 2010 Report Share Posted March 3, 2010 Thanks, now that's to the point. Link to comment Share on other sites More sharing options...
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