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Wow, this seems extremely logical!

jwprimerica

By jwprimerica,
in Dinar Rumors

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jwprimerica Newbie

jwprimerica

Posted
Posted

When will iraqi dinar revalue?

In: Business and Finance [Edit categories]

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[improve]

Good question,

No one can say for sure, but if you have been following it as long as I have, since 2004, then you would know every single goal set has been met. The most important was the stability of dinar, and it has been the most stable currency in the world for the past year when all other currencies, including dollar have dropped in value, and even with drop, the dinar has remained stable, a major goal of Iraq and stated many times publicly.

With chapter VII agreed once restoration of previous value of dinar is complete, this too is a major issue which had to be resolved first. Given the fact the coins were removed from market over a year ago, and the fact that all citizens now have debit cards, and as of Oct. 1st, no longer are Iraqi's to use U.S. dollars, what else is left?

Well, the only remaining missing link is the passing of the oil law, but due to the sectarian divide in Iraq between Shiites, Shia and Kurds, it has been held up for over a year, so this too is an issue which has to be resolved, and I believe it is close to being passed, so there you have it, all the major obstacles are completed, or near completed, so we are close as I see it.

Here is the most important thing I see happening by end of year. Given Maliki has done little in the way of helping the citizens and with no electricity available or fuel for cars in many areas, the citizens are still loosing faith in current goverrnment, and Maliki is sweating being reelected, so as I see it, just as is done in the U.S., you will see revalue so that Maliki is reelected, just as those in U.S. paid to insure Obama got in office, it is always about money, so Maliki is smart enough to spread the wealth just before elections, and those debit cards will all be loaded with millions in dinar assuring his reelection, and that is how I see it all coming together, so stay tuned, patience is about to be rewarded.

Success to all,

www.VOIP-COIP.com

Now before people go bashing the source, I UNDERSTAND it's a wikipedia based forum, but then again, so are the forums that we all post on (meaning anyone can post anything.) In my opinion this guys final paragraph makes a lot of sense, it would be a GREAT way to rally support for Maliki if he were to hold out til just before the end, then BOOM! Here comes a white knight to save the day. What are your thoughts? Does this make sense?

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bear Newbie

bear

Posted
Posted

When will iraqi dinar revalue?

In: Business and Finance [Edit categories]

Currencywww.business.com

Quickly Find Info on World Currency Trading in Our Directory Today.

Ads by Google

[improve]

Good question,

No one can say for sure, but if you have been following it as long as I have, since 2004, then you would know every single goal set has been met. The most important was the stability of dinar, and it has been the most stable currency in the world for the past year when all other currencies, including dollar have dropped in value, and even with drop, the dinar has remained stable, a major goal of Iraq and stated many times publicly.

With chapter VII agreed once restoration of previous value of dinar is complete, this too is a major issue which had to be resolved first. Given the fact the coins were removed from market over a year ago, and the fact that all citizens now have debit cards, and as of Oct. 1st, no longer are Iraqi's to use U.S. dollars, what else is left?

Well, the only remaining missing link is the passing of the oil law, but due to the sectarian divide in Iraq between Shiites, Shia and Kurds, it has been held up for over a year, so this too is an issue which has to be resolved, and I believe it is close to being passed, so there you have it, all the major obstacles are completed, or near completed, so we are close as I see it.

Here is the most important thing I see happening by end of year. Given Maliki has done little in the way of helping the citizens and with no electricity available or fuel for cars in many areas, the citizens are still loosing faith in current goverrnment, and Maliki is sweating being reelected, so as I see it, just as is done in the U.S., you will see revalue so that Maliki is reelected, just as those in U.S. paid to insure Obama got in office, it is always about money, so Maliki is smart enough to spread the wealth just before elections, and those debit cards will all be loaded with millions in dinar assuring his reelection, and that is how I see it all coming together, so stay tuned, patience is about to be rewarded.

Success to all,

www.VOIP-COIP.com

Now before people go bashing the source, I UNDERSTAND it's a wikipedia based forum, but then again, so are the forums that we all post on (meaning anyone can post anything.) In my opinion this guys final paragraph makes a lot of sense, it would be a GREAT way to rally support for Maliki if he were to hold out til just before the end, then BOOM! Here comes a white knight to save the day. What are your thoughts? Does this make sense?

It always has to do with money. MONEY IS POWER

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Pilgrim Newbie

Pilgrim

Posted
Posted

Great and all but M doesnt have the say so on the RV.... The IMF and CBI call the shots. But who the hell knows when it comes to this investment. GO IRAQ GO RV/RI

Just wondering, can you prove that. Up until now I've never actually seen the Iraqi constitution where it gives the power to set the currency rate to an outside source or the central back. I've asked this very question before....no answers

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Chief V Newbie

Chief V

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Posted

I beleive the chap7 is the real hold up here.There are exchange rate restrictions in there somewhere.

I believe this is the reason for the UN holding up the Chapter VII release....

Ban Expresses Concern Installation of Oil-metering System in Iraq Still Slow

UNITED NATIONS, 02 November 2010

Secretary-General Ban Ki-moon on Monday expressed concern that Iraq is still delaying the establishment of an oil-metering system to measure the oil ...

http://www.iraqupdates.com/p_articles.php/article/81675

Now on this I feel maybe we're getting some subterfuge or it's only partial due to this article:

http://www.iamb.info/pdf/oil_metering103006.pdf

Work set on Iraq oil metering system

Reuters UK - [3/27/2006]

Iraq, under international pressure to crack down on oil smuggling, is finally starting work on a long-delayed system to metre its oil production, an Iraqi diplomat said on Friday

The Iraqi Oil Ministry has reached a preliminary agreement with the Royal Dutch Shell group (RDSa.L: Quote, Profile, Research) to consult with it on creation of a system measuring the flow of oil, gas and related products, whether inside Iraq or for export to foreign markets, said Deputy U.N. Ambassador Feisal Amin al-Istrabadi.

The ministry also has concluded an agreement to rebuild a metering system in its southern oil port of Basra, where oil is loaded onto tankers for export, the U.N. envoy said in a March 22 letter circulated at the United Nations on Friday.

"This long-term development project will be implemented in stages that may be fulfilled in one or two years," he said.

The letter was addressed to the International Advisory and Monitoring Board, created by the U.N. Security Council in 2003 to watch over the stewardship of Iraq's natural resources.

The board had no immediate comment on the Iraqi letter. One member called the letter a step forward but said it was now up to Iraq to fulfil its promise.

"It's progress. We're looking forward to the results," said the board member, speaking on condition of anonymity because he was not authorised to speak on the board's behalf.

The international watchdog, beginning in March 2004, has regularly called on Iraq to metre its oil production, in line with standard industry practice.

The project has been repeatedly delayed amid reports of extensive smuggling, including allegations that Iraqi oil is being diverted from the marketplace to fuel the insurgency crippling the country's reconstruction.

The board's plea for oil metering was initially addressed to the U.S.-led Coalition Provisional Authority, which governed Iraq after the March 2003 invasion, and later to the Iraqi authorities who took back power in June 2004.

Al-Istrabadi said the metering system in Basra would be rebuilt with U.S. funding. His letter did not say how the contract with Shell or construction of the measuring system would be financed, and his office said he was away on Friday and not immediately available for comment.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1069

This as well...

12 July 2010

Security Council

SC/9978

Department of Public Information • News and Media Division • New York

Security Council

6356th Meeting (AM)

Crucial Elements of New Export-Revenue Mechanism for Iraq Still Lacking,

United Nations Controller Says in Briefing to Security Council

Despite progress, crucial elements still needed to be put in place for an Iraqi national mechanism to replace the fund that funnels the country’s export revenues towards development needs and international obligations, Jun Yamazaki, United Nations Controller, told the Security Council this morning.

Mr. Yamazaki expressed particular concern that an oil-metering system was behind schedule, delaying the determination of the total amount of oil subject to a 5 per cent contribution to the mechanism intended to replace the Development Fund for Iraq. “I strongly urge full and timely implementation of the comprehensive oil-metering system that was initially envisaged by the Government of Iraq,” he said, noting that the system was scheduled to become fully operational by the end of 2011, except for one State company, the metering of which would be completed by 2012.

The Council established the Fund in May 2003, following the United States-led invasion of Iraq, to facilitate the payment of oil, gas and other revenues and their disbursement for humanitarian needs and economic reconstruction. It replaced the previous “oil-for-food” programme, which had allowed the country’s previous sanctions-bound Government to use some oil revenues for the monitored purchase of humanitarian supplies. (See Press Release SC/7765 of 22 May 2003)

In December 2009, the Council extended for one year the mandates of the Fund and its auditing body, the International Advisory and Monitoring Board (IAMB), at the request of the Iraqi Government, to allow time for the establishment of a successor mechanism. It also requested the Government, through the head of the Council of Financial Experts, to report quarterly to the Council on progress made in the transition. The latest report is contained in document S/2010/365.

In his presentation today, Mr. Yamazaki said IAMB had agreed at its April meeting to the auditing arrangement with PricewaterhouseCoopers that the Government had recommended for 2010, and he was pleased that it would follow the same selection procedure in 2011. It was understood that the Government would continue to select an independent international auditor to be responsible for auditing the successor entity beyond the next year as well, he added, expressing satisfaction with the Government’s continuing efforts to establish banking arrangements that would ensure that the required percentage of revenues from oil and gas exports would be deposited automatically into the successor entity.

He stressed that it had been understood that the privileges and immunities enjoyed by the Development Fund would only be valid for a limited period. As for remaining letters of credit with outstanding claims of delivery, he said the Government had not yet received the confirmation of arrival documents required to enable the Secretariat to process payments to the respective beneficiaries. Without those documents, he said, the Council had the option of cancelling the remaining letters of credit, subject to the Government providing a comprehensive indemnity with regard to all activities of the Organization, as well as its representatives and agents in connection with the oil-for-food programme.

Following Mr. Yamazaki’s presentation, Abdul Basit Turky Saed, Head of the Committee of Financial Experts, provided an update on the Iraqi Government’s recent steps to fulfil the requirements of resolution 1905 (2009), saying that the ministerial committee formed by the Council of Ministers to review all outstanding letters of credit from the oil-for-food programme had carried out a review and decided to pay out 26 of them.

Regarding debts inherited from the previous regime, the Minister of Finance had sent confirmation letters to his counterparts in non-Paris Club States who had yet to respond to calls for debt settlement, he said. Since then, the Government of Pakistan had expressed its desire to restructure Iraq’s debt, and negotiations with Brazil and Poland had begun in June. Three commercial creditors in the United Kingdom — Mass Property and Investment Ltd., Universal Plant & Machinery Ltd. and Millars Project Ltd. — had stated their interest in buying debt, he said.

He said the Iraqi Government had proved its seriousness about finalizing issues concerning commercial creditors who had yet to register their claims, as well as a legal agreement on a package deal with the concerned State, to be approved by the Iraqi legal authorities, on receiving compensation after the lifting of immunities protecting Iraqi funds. On progress towards strengthening financial and administrative control over the Development Fund, he said the Government’s 41 ministries had completed structural charts and presented them to the Council of Ministers for approval.

The Ministry of Finance had gathered the financial and administrative instructions into a manual and would distribute them to all State entities for implementation in July, he continued. It intended to set up a database on frozen Iraqi assets, and a high-level committee formed to follow up on Iraqi funds abroad had obtained a court order to recover funds in France and Switzerland, he said. The adoption of a new mechanism to succeed the Fund would enable the Iraqi Government to ensure that the proceeds from oil export sales went to their intended purpose of benefiting the Iraqi people, he said.

At the opening of the meeting, Council members observed a minute of silence in commemoration of the fifteenth anniversary of the Srebrenica massacre.

The meeting began at 10:15 a.m. and ended at 10:38 a.m.

* *** *

For information media • not an official record

In relation to this you'll note I highlighted the Smuggling portion of this, as they need to be more accountable. The KRG region is at fault IMO at this point due to their transporting of oil across the border to Iran, now if this is protection money (oil) to reduce the amount of attacks from the eastern part of the country, that is understandable, hence the reasoning for them not setting it up quick enough and part of the reason that Article 140 and the HCL has had the most difficulty in being established. I believe that once we see this occur that the Chapter VII will be lifted.....so again it's in the hands of the Kurds. Are they using it as leverage as well in the political scheme of things? More than likely......

oil_metering103006.pdf

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inheritance Newbie

inheritance

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Here is the most important thing I see happening by end of year. Given Maliki has done little in the way of helping the citizens and with no electricity available or fuel for cars in many areas, the citizens are still loosing faith in current goverrnment, and Maliki is sweating being reelected, so as I see it, just as is done in the U.S., you will see revalue so that Maliki is reelected, just as those in U.S. paid to insure Obama got in office, it is always about money, so Maliki is smart enough to spread the wealth just before elections, and those debit cards will all be loaded with millions in dinar assuring his reelection, and that is how I see it all coming together, so stay tuned, patience is about to be rewarded.[/size]

SEEMS TO ME THIS OLD INFO BEFORE THE MARCH ELECTIONS???

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