Giving Iraqi People 1million dinars

[levivejuiceshop]

This was found by a news source I use. I think it looks horrible, but would love to see the the DV has to say about it.

Deputy called for the National Alliance to compensate the Iraqi citizen one million dinars, compared to the ration card items in arrears for the months previous.

وقالت امل عبد الرحيم في تصريح صحفي إن المواطن يعاني من تاخر وصول مفردات البطاقة التموينية ومنذ فترة طويلة الأمر الذي يلحق ضررا كبيرا به لأنها تشكل المصدر الرئيس لمعيشته،ودعت عبد الرحيم الحكومة والبرلمان إلى الاهتمام وبشكل كبير بالبطاقة التموينية ورصد المبالغ اللازمة لها بالشكل الذي يضمن وصولها للمواطن وبجودة عالية كما ونوعا،وتابعت إن مشكلة البطاقة التموينية لاتقل خطورة عن المشاكل الأمنية ومشكلة الفساد الإداري والمالي وفي حال عدم توفير القوت الأساسي للشعب وتعريضه للحاجة والجوع فانه من الممكن أن يكون عرضة للمغريات التي يقدمها الإرهاب في استغلال المواطن في العمليات الإرهابية من اجل المال،مشيرة إلى إن أعداء العراق ينفقون أموالا طائلة من اجل إلحاق الضرر به وتأخير العملية الديمقراطية والتي أصبحت مثالا يقتدى به في الشرق الأوسط. Said Amal Abdel-Rahim in a press statement that the citizen is suffering from the late arrival of the ration card items and for a long time, which caused great damage to him, because they are the main source of livelihood, and called for Abdul Rahim government and parliament to pay attention and dramatically ration cards, monitor the amounts necessary form, which guarantees the arrival the citizen and the quality as high as the quantity and quality, and followed that the problem of the ration card of not less dangerous than the security problems and the problem of administrative and financial corruption in the absence of basic sustenance to the people and exposed the need and hunger, it could be vulnerable to the temptations offered by the terrorism in the exploitation of citizens in terrorist operations in order to finance, pointing out that the enemies of Iraq are spending huge sums of money in order to damage him and delay the democratic process, which has become an example for the Middle East.

يذكر ان نظام البطاقة التموينية عمل به في العراق عام 1991 بعد اجتياح الكويت عام 1990 وفرض عقوبات اممية عليه ،وكانت البطاقة التموينية في السنوات الاولى تتنوع في مفرداتها وتشمل الرز والطحين والزيت والبقوليات زالحليب وحليب الاطفال ،الا انها تدهورت في السنوات الاخيرة حتى وصلت الى 5 او اربع مواد، ومن المثير ان هذه المواد ورغم قلتهخا الا انها تتسم بالردائة وعدم انتظام وصولها الى المواطن بالشكل الصحي The ration card system work in Iraq in 1991 after the invasion of Kuwait in 1990 and the imposition of UN sanctions it, and the ration card in the first years will vary in its vocabulary, including rice, flour, cooking oil and pulses Zahalib and baby milk, but it has deteriorated in recent years until it reached 5 or four subjects, it is interesting that these materials, although they are only Qlthkha is poor and irregular access to the citizen as health

Link

[eisch78]

I look at it two ways.

1) This isnt good if they plan on leaving the value as is. 1 million dinars at current value does not get an Iraqi citizen very much. I am sure a lot of citizens would be happy but more would be insulted.

2) This is really good if they plan on giving them 1 million dinar with the intention of revaluing!

[bagdaddy]

None of the politicians know the time or the hour of RV. Only the CBI knows this. Their politicians pander to the Left the same as ours.

[Darin]

We will have to follow this article more closely.

Keep in mind this.. Numerous citizens could easily be holding roughly 1 million dinar. Most are poor, but many could be holding several 25k notes.

Whether the Govt gives it to them or not, many Iraqi's could see an increase in buying power w/ their dinars.

[Telabiz]

Each Iraqi is worth 11 mil hmmmmm (old new's) now this smell's like RV . Bout the people y'all .

Sorry the net worth per Iraqi is old new's them realizeing is a major breakthrough , mo

Edited February 7, 2011 by Telabiz

[LettheRVbegin]

None of the politicians know the time or the hour of RV. Only the CBI knows this. Their politicians pander to the Left the same as ours.

IF that's the case, maybe we should call up the ROTHSCHILD to ask when they will RV the currency? I have a feeling that they are trying to spread negative news out so that we would all sell our dinars and be dependent on our stupid government with our worthless dollar that goes down in value everyday.

DO NOT LET THIS HAPPEN PEOPLE. STICK TO YOUR DINARS.

[Darin]

IF that's the case, maybe we should call up the ROTHSCHILD to ask when they will RV the currency? I have a feeling that they are trying to spread negative news out so that we would all sell our dinars and be dependent on our stupid government with our worthless dollar that goes down in value everyday.

DO NOT LET THIS HAPPEN PEOPLE. STICK TO YOUR DINARS.

Could be a push to get Iraqi citizens to prefer using IQD.

I know many of them prefer USD....

Plus the banks sell currency and have auctions to maintain inflation... This could be distribution of IQD to the people, so IQD starts flying around... From markets to other places..

What we should watch for is.... Will these be small denoms?

Imagine if they were 1 million in smaller denoms.. And as they go on their spending sprees.. 25k notes are being gobbled up.

Just another speculative theory.

[earjockey]

If GOI holds off the RV much longer they might as well set up exchange booths at every McDonald's restaurant in the world and add the IQD to their dollar menu.

Is there really any integrity at the CBI regarding inside deals, manipulation and use of their pending RV for the payment of bribes and payoffs?

RV already

[Darin]

Key Tip: We can't take some of these articles to heart too much.

For example, how many times have we seen billions mistaken for trillions and vice versa?

Just yesterday, many of us thought the budget was passed.

My question is.. has the Iraqi news always been this confusing??

[hammy]

None of the politicians know the time or the hour of RV. Only the CBI knows this. Their politicians pander to the Left the same as ours.

bagdaddy, Hate to tell you this, but the C.B.I. does not even know the date. The R.V. of Iraq will involve people like Jeffreys(who byw was just in Iraq) and lots of other leaders who are as important or even more important that Maliki, or Shabibi, or even the Minister of Finance. I would like to post an article that shows this, no article available. People behind the scenes, World Leaders you really don't hear about. All of them are somewhat Involved.

For Example this site: http://www.mof.gov.iq/ar/index.php?name=News&file=article&sid=1065

His Excellency the Minister of Finance Dr. Rafie al-Issawi, U.S. ambassador in Iraq, James Jeffrey and the two sides discussed a number of issues on the political and economic development of the country.

Issawi discussed with the U.S. ambassador to the subject of the general budget and the reason for the delay in the approval, also addressed the meeting, delayed naming ministers of security and the problems faced by naming the characters, which will occupy the ministries of defense, interior and ways of solving those problems, and the two sides stressed the need to speed up the resolution of these important issues .

Ask yourselves, why would The MoF have to answer to us? Or France? or every other country coming in to ask him " What is going on? Lets get this moving!" Just saying

[tjmunson]

I wouldn't put too much weight into this one way or the other. A deputy or any other official could say to the media anything they want. This sounds more like the personal opinion of one man rather than anything that is being considered.

Also remember that Maliki will not seek a third term so we are also going to have a lot of political positioning going on and what better way to win the hearts and votes of Iraqi's than to say....."Give them each 1 million dinar"!!!! JMO

[earjockey]

Key Tip: We can't take some of these articles to heart too much.

For example, how many times have we seen billions mistaken for trillions and vice versa?

Just yesterday, many of us thought the budget was passed.

My question is.. has the Iraqi news always been this confusing??

IMO

The official news is always one-two days late.

The intel is only good for for as long as it takes to share, even from the most reliable sources.

The one thing you can count on is the GOI to find a new angle for personal benefit or having a need to respond to corruption in the ranks.

Maliki is the fishes head in this smelly drama. His back-door attempt, through their version of our Supreme Court, to exercise control over the money (CBI), the elections (election ministry) and the oversight of these (accountability ministry) has postponed the process by at least a month. This really should have been completed in December.

Once a fox is spotted the chickens get nervous and every avenue of threat becomes subject to inspection and re-inspection. Maliki is really an unbelievably poor choice for IRAQ.

The RV is coming, the real victims (everyday Iraqis) are about to make their voice heard if they do not get the relief accompanied by the economic activity that will attend it.

[Darin]

Here's another questionable thing to consider.

Iraq was about to have 15,000 Dinar loaded onto Ration cards..

Why would it suddenly jump up to 1 million?

[capt.cliff]

hey Darin

I am going to a past post you made ,and I think is was very accurate, how many iraqis actually have a 25000 note, maybe a few for a rainy day, THEY SPEND THEM AS QUICK AS THEY GET 1.

Rv happens , start distrubting smaller notes--take the large ones out of circulaion, after they are recorded and on the treasury books , no loss of value , only destroying a piece of paper-after all how many of the US citizens have a 500, 1000, or 10,000 note--my understanding is you must register to order the highest denomenation and it can't spent as local currency--more a collector item --I think 1000 demon is tops.

The iraqis that do have the 25k notes will invest them and the trickle down ecomonics will apply -most likely quicker there than here at home --these people are not only hungry but thirsty!

DISCLAIMER: THIS IS MY OPINION , i HAVE A HS EDUCATION BUT GROWING UP IN NY HAS IN NO WAY MADE ME THE VILLAGE IDIOT BUT i MUST ADMIT i SURE COULD USE A SPELL CHECK ADAM!

[NotReallyTex]

Here's another questionable thing to consider.

Iraq was about to have 15,000 Dinar loaded onto Ration cards..

Why would it suddenly jump up to 1 million?

Because $15k would only buy a pack of smokes and a loaf of bread. By upping it to $1 mil that would be like when us US taxpayers got a bonus/refund.

The way I am looking at it this isn't very positive for us. $1k might not seem like enough to us the the Iraqi people but compared to what it looks like they have been getting I bet it's a lot to the average Iraqi.

I am still going to keep my dinar but I won't be looking for a RV anytime soon now.

[rdb]

who knows??? i dont even think the CBI knows. Earlier they said they like the stable rate, and just because we dont like it means nothing to them. I pray and hope it will change because doing so will bring a greater benefit to all. BUT REMEMBER, THEY ARE SOME SMART PEOPLE, THEY WILL FOOL US ALL WITH THE MEDIA AND DIFFERENT THINGS AND THEM BAM!!!! RV.. SO LETS BE PATIENT, I DO BELIEVE THEY WILL RV REALLY REALLY SOON!!!

[30 at 50]

bagdaddy, Hate to tell you this, but the C.B.I. does not even know the date. The R.V. of Iraq will involve people like Jeffreys(who byw was just in Iraq) and lots of other leaders who are as important or even more important that Maliki, or Shabibi, or even the Minister of Finance. I would like to post an article that shows this, no article available. People behind the scenes, World Leaders you really don't hear about. All of them are somewhat Involved.

For Example this site: http://www.mof.gov.iq/ar/index.php?name=News&file=article&sid=1065

His Excellency the Minister of Finance Dr. Rafie al-Issawi, U.S. ambassador in Iraq, James Jeffrey and the two sides discussed a number of issues on the political and economic development of the country.

Issawi discussed with the U.S. ambassador to the subject of the general budget and the reason for the delay in the approval, also addressed the meeting, delayed naming ministers of security and the problems faced by naming the characters, which will occupy the ministries of defense, interior and ways of solving those problems, and the two sides stressed the need to speed up the resolution of these important issues .

Ask yourselves, why would The MoF have to answer to us? Or France? or every other country coming in to ask him " What is going on? Lets get this moving!" Just saying

This is a very good point..maybe the best one yet ! Thanks

[leola]

I see no remedy here,,,,these people need a lot more,,,I hope they get it....these people ,,the iraqi`s,,,are trying to reclaim a past equal ,,,or ,,,surpassing any culture on earth... We are only a side show to real outcome.,,,...Take any gain you get with a measure of humility,,and,,,grace,,that you,, may never had in the past... have patience,, and,,,wisdom to let iraq find it`s way,,,,,,,,,,,,,,,,,,,,,,,,..........................

[glo]

bagdaddy, Hate to tell you this, but the C.B.I. does not even know the date. The R.V. of Iraq will involve people like Jeffreys(who byw was just in Iraq) and lots of other leaders who are as important or even more important that Maliki, or Shabibi, or even the Minister of Finance. I would like to post an article that shows this, no article available. People behind the scenes, World Leaders you really don't hear about. All of them are somewhat Involved.

For Example this site: http://www.mof.gov.iq/ar/index.php?name=News&file=article&sid=1065

His Excellency the Minister of Finance Dr. Rafie al-Issawi, U.S. ambassador in Iraq, James Jeffrey and the two sides discussed a number of issues on the political and economic development of the country.

Issawi discussed with the U.S. ambassador to the subject of the general budget and the reason for the delay in the approval, also addressed the meeting, delayed naming ministers of security and the problems faced by naming the characters, which will occupy the ministries of defense, interior and ways of solving those problems, and the two sides stressed the need to speed up the resolution of these important issues .

Ask yourselves, why would The MoF have to answer to us? Or France? or every other country coming in to ask him " What is going on? Lets get this moving!" Just saying

[smee2]

Boy do I see this as a bad thing if it happens

First of all someone mentnioned the 15000 dinar and replacing it with a million dinar, not so. The 15000 dinar is a monthly amount awarded to replace the ration cards which are not working, especially for locations further into the rural areas. The million dinar appears to be a one time thing.

Next, yes the people need more, No question. But ...

Let's say you give an Iraqi family a million dinar. Today, they go nuts and spend half of it on groceries and water and whatever they are using for energy, firewood or whatever. They spend the equivalent of say six hundred dollars, as that is what the dinar today is worth, roughly.

They have half a million left. Tomorrow the RV happens, and lets say it happens at 1:1. Suddenly that family has half a million DOLLARS, not just half a million dinars and significantly more than today's six hundred dollars.

What would the average family do with half a million dollars? Oh, I know here in the western world it would be pay off the billsl, a new car, big screen television, cruise vacation and maybe an investment of some sort, right? There it would mean great wealth for every Iraqi family who had not spent their "gift" of a million dinar when it was worth what it is today.

For some reason, and I can't figure it out logically, I feel that would be a great problem for the people, and for the government, and for the plans to put people to work ... especially that. If you won a lottery for a million dollars, or more, as this gift to the Iraqi family could be worth after the RV, might you consider, even briefly, not working? Imagine even 80% of Iraqi families feeling they don't have to work. Workforce depletion would ruin the economy before it even got restarted.

If anything, acceptence of this idea of giving each family a million dinar would, for me, confirm that the country has no intention of an RV but will just let the dinar rebuild gradually. It has already done some recovering since it was first devalued. Maybe they would prefer to do it that way. I mean, giving each family what will rutn out to be a fortune, compared to giving to each family what would be about what they earn in maybe three months? The short term help is fine but what if those dinar are still in someone's sock drawer, or in a box behind someone's spare turban, are still out there unspent, and waiting to revalue. I just don't see that as good governance, certainly no foresight involved.

smee2

[FXStockpiling]

Look at it this way, no matter who holds the dinar the RV price will be what it will be.

[BanG]

I believe this will determine the RV process no dates. times or GOI stuff.

You ask great questions, and you may have the answer (it’s as good as any guru! lol). The truth is (imho), no one, no guru, can tell you what the delay is due to. As you can probably tell, Most of them seem to be grasping at straws trying to figure out where to go from here. (just look at the chat logs) One says it is because the lower denominations have to be printed and/or that the Kurds have to have their culture/language represented on them. Another says the IMF has to do the RV. Another says the government has to pass legislation first to do it. Another guru says it’s because of Obama and tax implications for us. Another says the Parliament has to ratify Res. 1957 first. Another say the government isn’t really “official” yet and so the other remaining positions must be filled first. And finally, others say it is because Kuwait is holding out for more money and wants to be paid in pre-RV Iraqi dinar.

So who do you believe?

Believe me, I TOTALLY understand the frustration associated with this, because all we want to know is what is left in order for them to do it, and who has to do it, in order to gauge when that might be.

Here’s what I have been able to conclude, after doing my own research. IMHO….

1) The lower denominations were printed when the higher denominations were printed. They already have the Kurdish representation and language on the lower denominations. The plan is (as everyone already knows) to phase out the higher denominations and only have the lower denominations. Don’t get confused and think lop. That isn’t what I’m saying. What they will do is once the RV occurs and the lower denominations are in full circulation, they will be removing from circulation over a reasonable period of time, the higher ones (exchange, for ex., one 25K note for (25) 1000 notes, or even more likely, to (250) 100 notes). Bottom line is no one loses value, but the benefit to the Kurds is that ALL thecurrency at the end of the period of exchanging higher denominations, will indeed have the Kurds name and language representation as req. by the Iraqi Constitution. They have always striven for recognition– and IMHO, they were told the plan about the currency, and THAT is why they suddenly were very accommodating and working with Maliki.

The reason I say these lower ones were printed with the higher ones is because the authority in place that ordered their printing was the Coalition Provisional Authority (basically, the USA) when the New IQD was ordered, and the Iraqi Interim Constitution requiring Kurdishrepresentation/recognition was initially in that document. The printing of the New IQD and the Interim Constitution was a matter of about two months.

http://en.wikisource...Dinar_Banknotes

2) Regarding WHO is the one to pull the trigger? For the longest time everyone for YEARS was in agreement that Shabibi is the only one with authority to pull the trigger for a revalue. But all of a sudden now, when they have nothing else to point to, they say well, the IMF has to do it, or the Iraqi govt. has to do it. On both accounts—WRONG.

Per the CBI Law on the CBI website, The Central Bank of Iraq is the SOLE authority responsible for determining the value of their currency. Per the IMF, Shabibi must submit a request for revalue to the IMF. Once they approve it (and I believe this is already done), it is STILL up to Shabibi to plan and prepare for the announcement to the world about it (the effective date). Now I’m not saying the IMF can’t bring pressure on them. They can, and often do so to countries to get them to move. But ultimately, technically, it is Shabibi and him alone that decides when. The secondary part to that is that while Shabibi announces the rate, it must be logically supported and justified as “realistic” by the IMF. It must not be “in equal” or in “disequilibrium” to the comparablecurrency. In this case Shabibi can come out with a rate at $1 to a dinar, but the question is, “is it realistic” to the comparable currency – i.e., the only one comparable around them—Kuwait (Kuwait being like them democratically). I would say no– It is a judgment call, but I don’t think anyone can logically argue that $1 to $3.55 is comparable to each other in a realistic way. This isn’t to say they wouldn’t approve a $1. Because just like judges, they generally can do anything they want if they have a good reason for wanting to do it (and that usually has to do with money). lol

http://www.cbi.iq/in...LawsRegulations

http://www.imf.org/e...010/cr10316.pdf

Read more:

[MPG350]

Boy do I see this as a bad thing if it happens

First of all someone mentnioned the 15000 dinar and replacing it with a million dinar, not so. The 15000 dinar is a monthly amount awarded to replace the ration cards which are not working, especially for locations further into the rural areas. The million dinar appears to be a one time thing.

Next, yes the people need more, No question. But ...

Let's say you give an Iraqi family a million dinar. Today, they go nuts and spend half of it on groceries and water and whatever they are using for energy, firewood or whatever. They spend the equivalent of say six hundred dollars, as that is what the dinar today is worth, roughly.

They have half a million left. Tomorrow the RV happens, and lets say it happens at 1:1. Suddenly that family has half a million DOLLARS, not just half a million dinars and significantly more than today's six hundred dollars.

What would the average family do with half a million dollars? Oh, I know here in the western world it would be pay off the billsl, a new car, big screen television, cruise vacation and maybe an investment of some sort, right? There it would mean great wealth for every Iraqi family who had not spent their "gift" of a million dinar when it was worth what it is today.

For some reason, and I can't figure it out logically, I feel that would be a great problem for the people, and for the government, and for the plans to put people to work ... especially that. If you won a lottery for a million dollars, or more, as this gift to the Iraqi family could be worth after the RV, might you consider, even briefly, not working? Imagine even 80% of Iraqi families feeling they don't have to work. Workforce depletion would ruin the economy before it even got restarted.

If anything, acceptence of this idea of giving each family a million dinar would, for me, confirm that the country has no intention of an RV but will just let the dinar rebuild gradually. It has already done some recovering since it was first devalued. Maybe they would prefer to do it that way. I mean, giving each family what will rutn out to be a fortune, compared to giving to each family what would be about what they earn in maybe three months? The short term help is fine but what if those dinar are still in someone's sock drawer, or in a box behind someone's spare turban, are still out there unspent, and waiting to revalue. I just don't see that as good governance, certainly no foresight involved.

smee2

Agreed if we can confirm each family gets a million dinars, then this would be a huge NO I think towards a RV happening, atleast

for many years.

[wildinar]

Great info, Thanks All

GO RV!!!!

[In Iraq]

who knows??? i dont even think the CBI knows. Earlier they said they like the stable rate, and just because we dont like it means nothing to them. I pray and hope it will change because doing so will bring a greater benefit to all. BUT REMEMBER, THEY ARE SOME SMART PEOPLE, THEY WILL FOOL US ALL WITH THE MEDIA AND DIFFERENT THINGS AND THEM BAM!!!! RV.. SO LETS BE PATIENT, I DO BELIEVE THEY WILL RV REALLY REALLY SOON!!!

[/quote

Speaking of smart people your picture tells me you might be military or was military, don't know, doesn't matter. As far as smart people, they are in it for a con most of the time. I have bartered with them for goods and a lot of the goods they sell are knock-offs and fakes or copyright infringed. So you are right they will mis-inform and work a con in a heartbeat for a profit! I would not trust most of them as far as I could kick them!!

Edited February 8, 2011 by In Iraq