Truck and Barter

U.S. Troop Levels in Iraq May Decrease
Monday, April 11, 2005

WASHINGTON — Senior U.S. military commanders have become so pleased with events in Iraq that they expect troop levels (search) to drop to about 100,000 by early next year, depending on the persistence of the insurgency and local security-force training, defense sources confirmed to FOX News.

"We're hitting our goals," one senior U.S. commander told FOX News, adding that the military did not want to be overly optimistic about developments in Iraq.

Sen. Norm Coleman (search), who recently visited Iraq and talked with Gen. David Petraeus (search), the top American military trainer in Iraq, said Iraqi security forces were taking more of a lead role in protecting their country, with American forces shifting to the background.

Coleman acknowledged that there was still work to be done.

"It's not an exit strategy, it's a success strategy," said the Minnesota Republican. "Success is this vision that I talked about — Americans embedded with [an] Iraqi army that is on the front line dealing with a policing operation and dealing with military operations and wiping out insurgency."

The possible troop-level reduction was first reported Monday in The New York Times. U.S. officials said that as more Iraqi troops have taken the front lines against the insurgency, more Iraqi civilians and politicians have cooperated with multinational forces.

But no official would give a precise timetable about when American forces would withdraw or how many troops would be involved.

http://www.foxnews.com/story/0,2933,153065,00.html

A new thread a new promise.

Let's keep the information flowing.

Regards

GULF COOPERATION COUNCIL

Posted on 07 April 2005

Ibrahim al-Jaafari Iraq's new prime minister

(IANS News) Baghdad: Ibrahim al-Jaafari, head of the Shia Islamic Dawa Party, was Thursday named Iraqi prime minister by the new presidential council, reports Xinhua......

http://www.newkerala.com/news-daily...llnews&id=94909

Now put that together with this article...

Iraq Seeks GCC Entry

Associated Press, Arab News

KUWAIT CITY, 7 December 2003 — A member of Iraq’s Governing Council said yesterday that his country wants to join the six-nation Gulf Cooperation Council and has the right to belong to the regional organization.

Ibrahim al-Jaafari, a member of the US-appointed Iraqi council, made the statement two weeks before a summit meeting of GCC leaders is scheduled in Kuwait.

“We believe that the new Iraq has to be a member of the GCC,” Al-Jaafari told reporters on the sidelines of a conference on Islamic groups and political reform. “(Iraq) doesn’t only have the right to belong, it can also offer strong backing and support for the Gulf countries.”

The council groups Kuwait, Saudi Arabia, Qatar, Bahrain, the United Arab Emirates and Oman. Iraq was never a member, but it was represented in some of the GCC’s cultural and sports organizations.

Iraq’s ties to the organization were cut when President Saddam Hussein ordered the invasion of Kuwait in 1990 and the Iraqi Army occupied the country for seven months. A US-led coalition liberated the country in the 1991 Gulf War.

“Iraq is a country that overlooks the Gulf, this is a truth... it is actually an Arab Gulf country,” Al-Jaafari said. If the regime of Saddam Hussein was an obstacle, it is gone now, he added.

Al-Jaafari said he has discussed this with all Gulf states and “found nothing but positive positions.” Ties between Kuwait and Iraq were severed until the United States and Britain invaded Iraq and removed Saddam from power in April.

PLEASE READ!

If the above is true and Iraq joins the Gulf Cooperation Council. The Forex market will be jumping with all of the World Oil Countries now in charge. I would venture that the common currence of the GCC would be the most expensive in the land.

Sporter,

I'm assuming that the Saudi Riyal is the currency with the highest value to the dollar. If these countries unified their currency are you suggesting that the NID would immediately be equal to the Saudi Riyal?

And if so, would the other countries be able to assist Iraq with all the american dollars that are going to leave the country when we all cash in and call Terrance to book our tickets to Hawaii? :)

I think that is what you are suggesting, but I wanted to make sure.

Dave A

Sporter.. the article you quote:

Iraq Seeks GCC Entry
Associated Press, Arab News

Would you please post the URL to it, too?
Not that I am not taking your word for it..
I just like the actual reference, please.
Thanks!
Sara.

HELLO ALL
CHECK THIS OUT.
HTTP://NEWS.CHANNEL.AOL.COM/
MILITARY SAYS IT HAS IRAQ"S NORTHERN INSURGENCY"ON THE ROPES"
GETTING A GRIP ON MOSUL
AN AMERICAN COLONEL SAYS ATTACKS HAVE DROPED IN RECENT WEEKS BECAUSE THE LOCAL POPULANCE IS TURNING ON INSURGENTS IN THE RESTIVE CITY.
ABOUT 250 TIPA A DAY.
I TYPE BY ONE FINGER ONLY,AND THERE IS TO MUCH HERE SO YOU MUST READ TO SEE WHAT I AM SAYING.
ABOVE SITE.GOOD LUCK TO ALL ON NEW POST,THANKS KEVIN RON

What in tha Hel-?
24 hours to get tank of gas in Iraq. You thought it was because they just didn't have enough to go around didn't ya?
Wrong!!
It seems the government in its effort to keep the gas price down so everybody could afford it has created another major problem, which as caused the gas shortage to the general public. Go to the gas station and the cost is .o1 per litre USD.
It seems the gas station owners can pump the gas into a transport truck and sale it on the black market for 100 to 150 times that.
They presently do not have any checks and balances in place to control the gasoline black market, so the shortages will continue for a while.

HALLABURTON JUST LOVES OLE UNCLE SAM!!
I would too if I could sale $82,000 worth of cooking oil for $27.5 million. Sorry Folks the check has already been written.
That little scheme must have been though up in the pig pen, cause there was some mighty hog trough feeding going on.

Sara:

Please visit investoriraq.com. The link is to the right "the man to watch""

Regards

Dave,

This is a great fit for Iraq. With the support of other oil countries why would they not roll out the most expensive currency knowned to man?

www.investorsiraq.com,

Sorry Sara,

regards

Hey Gang,

WOW!! Kevin gave us another thread. He is one COOL dude!

Sporter: That was a good post about the GCC and Iraq's inevitable membership into it. By that time, Iraq will have it's house in order, and I think that we can see some SERIOUS potential for the Iraqi dinar to increase in value. Just listen for this sound: KA-CHING!! That will be the sound of the GCC cash register opening!!!

Two facts of life:
1. Oil ain't gettin' any cheaper.
2. And, Iraq just keeps pumping more of it each day.

And, as CARL says, "The dinar keeps getting stronger."!!

Rob,

Thanks for reading my message clearly. The Gulf Cooperation Council can only help the Dinar and all of us who have the faith.

Regards,

Was wondering if it is still possible to get into our old pms from the last one that was just cancelled and this new site put up now.I guess I am abit confused at the monemt as there does not seem to be a sign in like we used to have to post personal pms to other people on the form.I need to get in to get an address from one of the members and now dont know how.

Dave,

If you want to be a player, please post your facts correct. 1 Saudi Royal= .27 U.S. Dollar!

PAY CLOSE ATTENTION TO THIS
The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date.
They will have the monetary units in place by fall of 2005.
The Currency, whatever the name, will have the backing of 385 Billion dollars, with the structure of the countries listed under the dinar limited to having a debt ratio of only 60% of their combined GNP. Under this structure, this dinar has the protential to be the strongest currency in the world today.
The Economic and Geopolitical consequence is beyond comprehension states some economic analysis. One of the ideas is to remove the Union Currency Dinar from the USD and peg it to oil invoices. This will place the dinar not only as the anchorage dinar but also used in banking reserves.The common market will be established, and ready by 2007. The currency can be put into play anytime after 2007, with the target date set a 2010. However, most analysis are now saying it is possible the currency will be on the market way before 2010.
It is now almost a certainity, Iraq will be placed in the GCC for many reasons. It use to be in the GCC, until Saddam attacked Kuwait. By all indications last week, the GCC, has given positive overtures to Iraq at rejoining.
How the dinar will be valued is still up in the air. The best guess, is the dinar will be valued somewhere in the middle of the now existing GCC dinar values.
But this is just a swag.
Either way, you can be assured the value of the iragi dinar is going to increase significantly.
So the best bet is between 2007 and 2010.
AND THE IRAGI DINAR VALUE BUILDS DAILY...

Here is some good info on GCC, but was published in 2003.

Monetary Union Among Member Countries of the Gulf Cooperation Council

http://www.imf.org/external/pubs/nft/op/223/

CARL AND ALL OTHERS ON THE NEW THREAD.
WHAT GREAT NEWS ON ALL THE POST TODAY.WE ARE WITH OUT A DOUGHT IN THE DRIVERS SEAT.
GOOD LUCK TO ALL.RON

Sporter,

Which fact are you referring too? I don't recall ever giving out a fact. I just assumed that Saudi's rate was the highest of all the Arab countries. I didn't say it definitively. In fact I was asking you a question. Be careful who you call out. I'm sure you're a nice person and all, but I'm feeling a little confused at why you'd rebuke me for no reason.

Dave A

Iraq—Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding

http://www.imf.org/External/NP/LOI/2004/irq/01/index.htm

could the person who I had talked to through the pm on the last thread and had sent me his address to mail to him please send me a url to his site so I can get his or her address again as I got it wrong and now cant get back to were it was written on the pm from him as this has all been changed now.'
Heather

Heather, if you need to see the previous post, scroll to top of page and click on link no. 3 which will take you to the previous post site..

Hey Mr. Larue, Where are you? Not heard anything from you in a while. Or am I the only one who has noticed?

Carl-
Do you have a source for your statements?
link for following;

"The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date.

They will have the monetary units in place by fall of 2005."
"The common market will be established, and ready by 2007. The currency can be put into play anytime after 2007, with the target date set a 2010. However, most analysis are now saying it is possible the currency will be on the market way before 2010"

or is this your opinion & 'editorial' view?

please clarify.
thanks
Red

Red:
This is not my opinion.
I will get the article information so you can look it up.

HELLO ALL
RUMSFIELD HAD A QUICK VIST TO IRAQ TODAY,TO TRY TO SPEED UP THE NEW LEADERS IN IRAQ,PUTTING TOGETHER THE REST OF THIER CABINET AND FORMING THEIR CONSTITUION.GOOD NEWS.
GOOD LUCK TO ALL.RON

In this article today:
http://www.usatoday.com/printedition/news/20050412/a_iraqnews12.art.htm

At the bottom of the article, it says the US troop deployment is going to be limited to 12 month stints.

Quote:

•The Pentagon is limiting deployments of U.S. troops to Iraq and other combat zones to 12 months. A memo says Rumsfeld must approve any major extensions. The memo, signed March 30 by David Chu, the Pentagon's undersecretary for personnel, clarifies the U.S. military's “boots on the ground” rules, said Air Force Lt. Col. Ellen Krenke, a Pentagon spokeswoman.

Thousands of U.S. soldiers were required to serve beyond the 12-month limit to provide additional security in the run-up to national elections Jan. 30.

--------------------------------

I think this, coupled with yesterday's article about drawing down the troops by about one-third in the near future (to about 100,000), are very good signs lately concerning the future of Iraq, and the troops there. And, it certainly should quell the fears of many who were scared about a possible draft (remember that was an issue brought up during the election??).

It certainly says a lot about the positive direction of the security situation being faced there.

Four leaders of Qaeda-linked groups captured: US, Iraqi military
(AFP)
12 April 2005

BAGHDAD - Four leaders of three Al-Qaeda linked groups were captured in a US-Iraqi operation on Monday that netted 67 suspected insurgents in the volatile southern Baghdad district of Dura, US and Iraqi officers told reporters on Tuesday.

“We captured some of the leadership of the Ansar al-Sunna group, Tawhid Wal Jihad (Unity and Holy War), and Ansar al-Islam,” said Colonel Ali al-Obeidi, commander of the Iraqi Army Sixth Division’s third battalion-first brigade.

“For these four, the crimes were murder, assassination, beheadings, bombings and attacks against Iraqi security forces and American forces,” said Colonel Edward Cardon of the Third Infantry Division’s fourth brigade combat team.

The group Tawhid wal Jihad is the old named used by Islamist militant Abu Musab al-Zarqawi’s group before it was formally recognised as Qaeda’s official branch in Iraq last fall. It then renamed itself Al-Qaeda Group in the Land of the Two Rivers.

The US and Iraqi forces claim to have netted more insurgents since the November offensive on the former rebel bastion of Fallujah due to increased intelligence and the growing confidence of Iraq troops.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/April/focusoniraq_April50.xml§ion=focusoniraq

Iraq arrests high-ranking Saddam aide
(AFP)
12 April 2005

BAGHDAD - Iraq said on Tuesday it has arrested a former high-ranking Baathist in the ousted regime of Saddam Hussein suspected of coordinating and funding the insurgency.

Fadil Ibrahim al-Mashhadani was arrested during a raid by Iraqi forces in farmland northeast of the capital, said a government statement describing him as “a leading member in the dissolved Baath party and a prominent leader of his (Saddam’s) military bureau in Baghdad.”

“It is believed Mashhadani is responsible for coordinating and funding terror attacks against the Iraqi people, government and security forces,” said the statement.

“It is also believed that he acts as a link between former Baathists hiding in Syria and terrorists inside Iraq.”

Both the Iraqi and US governments have long accused Syria, Iraq’s western neighbour, of turning a blind eye to foreign fighters streaming into Iraq to wage jihad, holy war, and of being a safe haven for former regime loyalists.

Iraqi authorities said on Sunday that they recently arrested Ibrahim Sabawi son of Sabawi Ibrahim al-Tikriti, a half brother of Saddam also being held in custody for allegedly bankrolling rebels.

Sabawi senior, who was a presidential advisor to Saddam and an intelligence chief, was number 36 on the US list of 55 most wanted former regime officials in Iraq. He was arrested in early January when he crossed over from Syria, Iraqi officials have said.

But there have been other reports saying Sabawi senior was handed over by the Syrians in an effort to demonstrate their cooperation with Baghdad and Washington.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/April/focusoniraq_April51.xml§ion=focusoniraq

Now where did I put that? ... hmmm
It was right over there a minute ago....

Bush Says Trained Iraqi Troops Now Outnumber U.S.
Apr 12, 1:17 PM (ET)
By Steve Holland

FORT HOOD, Texas (Reuters) - President Bush said on Tuesday trained Iraqi security forces now outnumber U.S. troops in Iraq and are playing a greater role in fighting insurgents.

Bush's comment followed remarks by senior military officers that U.S. forces could begin to be drawn down in significant numbers early next year if violence remains low at that time.

He said security operations in Iraq are "entering a new phase" in which the United States and its coalition partners are increasingly playing more of a supporting role and Iraqi security forces are more self-reliant and taking on greater responsibilities.

"Like free people everywhere, Iraqis want to be defended and led by their own countrymen," Bush said. "We will help them achieve this objective so Iraqis can secure their own nation and then our troops will come home with the honor they have earned."

Bush offered no timetable on a withdrawal. He said about 150,000 Iraqi military and police and other security personnel had now been trained, outnumbering the estimated 140,000 U.S. troops in Iraq.

"There's a lot of hard work ahead," he said. "The Iraqi people face brutal and determined enemies. But Iraqis are also determined and they have the will to defeat the insurgency."

http://reuters.myway.com/article/20050412/2005-04-12T171738Z_01_N12326080_RTRIDST_0_NEWS-BUSH-DC.html

Sara:
Good Research..
and the kings men start to tumble..

I was just doing some brainstorming today about what is going on in Iraq.. To me things are going excellent, but I have noticed in the past few weeks, the Iraqi people are really recenting the fact that American Troops continue to remain in their country. This makes me wonder if the Iraqi people will soon recent the design of the new dinar because it was introduced to them while there country was occupied by allied forces. Could the vote for an offical government in December, also introduce a new dinar designed by Iraq's government?

I hope the New Dinar stays the same. Or else we could be all holding expensive toilet paper. Just like the old venezuelen money and yugoslavian money

Carl-

Where did you get this? as fact?

"The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date.
They will have the monetary units in place by fall of 2005."

"It is now almost a certainity, Iraq will be placed in the GCC for many reasons. It use to be in the GCC, until Saddam attacked Kuwait. "

and above?
Iraq _was never_ in GCC. the original 6 members established in 1981;

The Gulf Cooperation Council [GCC] was established in an agreement concluded on 25 May 1981 in Riyadh, Saudi Arabia between: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE.

http://www.globalsecurity.org/military/world/gulf/gcc.htm

please clarify?
thnx
Red

Red:
I am going back and finding the article.I look at several a night, and read several middle eastern papers, etc;
The article stated Iraq was in the GCC until Saddam got kicked out, because of his little foray into Kuwait.
when I locate the article again I will post the address for ya.

Thanks, Carl. :)

Michael.. thanks for the URLs you posted.

About the possibility of a New Dinar... Just a thought.. until they establish the Dinar on the world market and get things moving along.. what point would there be in printing something else? What would that new currency be worth, and who would stand behind it? I think it is a lot of trouble to go to make a whole NEW currency and get it going. This Dinar is what is established, printed, and has the US behind it. It is also established and recognised by international Banking bodies, and Mr. Wolfowitz of the World Bank, for instance, will probably readily acknowedge it once it is released onto the Forex market. It really isn't very reasonable to think of starting from scratch again and creating a whole new currency, from a logistics point of view.

I think the Iraqi people want peace and prosperity, and to build on what is already happening and in place, not to tear down and try and build something else just for the pride of saying it is Iraqi without anyone else's help. They want to succeed as fast as is possible, not mire themselves down trying to do it all themselves. I think they are taking all the help they are getting, and it only makes sense to work with what they are given in order to get back up on their feet and be a part of the world scene and economy. Iraq has a bright future with the currency of the Dinar, held in Iraq and across the globe. That Dinar is part of their recovery and that Dinar is part of helping to rebuild Iraq. As people buy Dinars, they are showing belief in the Iraqi economy and in the recovery of the country as a whole. If the Dinar succeeds, the Iraqi people have prosperity, hope and a bright future.. why tamper with soon to be success and try a whole new, untried, untested unknown and unbacked currency?

Sara.

I "second" that Sara, well written!

Regards,

And anyway i think i read someplace that Iraqis /like/ their new money and were lining up to get it. I mean not that they had a lot of choice what with the old stuff being worthless, but still i read they liked it. Was better than having Saddam looking at them? And it couldn't be easily counterfeited? Which was a problem. Etc.

No way i can dig up that reference, i just remember reading something to that effect.

The following link is for all world currency. I hope its helpful.

http://www.xe.com/popularity.htm

Regards,

Hey all,

Regarding Iraq's past GCC membership, I hope this helps. I don't know if this article was the one that Carl was referring to. According to this article, Iraq definitely had some sort of responsiblities within the GCC.

http://www.arabicnews.com/ansub/Daily/Day/031208/2003120815.html

Iraq might restore its membership in Gulf institutions
Iraq-Gulf, Politics, 12/8/2003

Kuwait's foreign minister Sheikh Muhammad Sabah al-Salem al-Sabah on Saturday announced that the Gulf Cooperation Council GCC states will discuss during its next summit by the end of the current month the issue of Iraq's return to certain institutions in the council.

The Kuwaiti minister said that the "question of Iraq's return back to take part in certain activities of the GCC will be discussed during the next summit of the GCC states, due to be held on December 22nd in Kuwait.

He said that Iraq "used to take part in the activities before 1990, but the invasion of the Iraqi regime of the state of Kuwait resulted in expelling Iraq from all activities it used to take part in."

Member of the Interim governing council in Iraq, Ibrahim al-Jaafari, announced earlier in Kuwait that his country wants to be a full member in the GCC, considering that Iraq is a Gulf state and meets the conditions for joining the GCC. He said "we consider that new Iraq, which is an Arab Gulf state, should become a member in the Gulf Cooperation Council after the elimination of obstacles used to be hindering this because of the toppled regime."

He added that his country can give a strong support to the GCC, noting that he had received positive answers to his request from Gulf states that he did not disclose in name.

Sporter,

My last post pretty well says the same as your earlier post regarding the status of Iraq within the GCC. I wasn't trying to overwrite what you had posted earlier. I just wanted to reinforce your last post on the subject.

GO DINAR!!

HI ALL
SARA WHAT A GREAT JOB OF INVESTIGATION YOU HAVE BEEN DOING,KEEP UP THE GOOD WORK.THE POSTS THAT WE ALL MAKE KEEP THE FIRES BURNING OF HOPE,AND GREAT WISH"S FOR IRAQ AND IT"S PEOPLE.GOOD LUCK TO ALL RON

Robert:
thanks for the look up on the GCC comments. I go through so many every night,and take what I think is important from each one and put in on the board. I was having trouble finding the article again.

Red:
I found some of the sites:
Arabicnews.com
and Eruthledge.com
There are some others but I have not found them yet.
Hope this helps

Thanks Sporter, Ron, Rob, Carl.. glad it is appreciated.
I appreciate all your posts, too.
Thanks for the GCC article and all your sifting through for us, Carl. Those have been very interesting posts.
It all keeps us looking in the right direction. :)
Sara.

Carl: I am glad the post helped.
You do a LOT OF GOOD RESEARCH for us on this board. And, like Sara said, we all APPRECIATE it.

Hey, Sara: On one of your posts, you mentioned the big scare about the military draft. I know what you mean. Before the presidential election, my daughter, who is a junior in high school, told me that a couple of political hack high-school students were telling everybody to get ready to be drafted. Because, they said that Bush had already made secret plans for the draft to be implemented immediately after his
re-election.

Glad you brought that up. It just shows how some people will go to great lengths to scare other folks through lies.

Keep up those good posts.
And, You go, girl!! And, GO DINAR!

Quick question...

If Iraq will join the GCC and the GCC plans on producing one GCC currency.. why would Iraq open their currency to the world instead of just waiting for the "one" GCC currency?

I think, it would take long time for GCC to unify their currency and until the time comes, IQD must have established and traded in the world market. I am living in Gulf and my experience is that it would take many years to conclude the decision about one currency and that under what name,,,,,,well best wishes for all dinar holders....Sheraz

Hi all

I presume that as soon as government is established and appropriate ministries are allocated, the new Finance Minister will start working on dinar value and so on,,,,,,,yr views
Sheraz,,,,

NEWS LINKS:

http://www.menareport.com/en/business/

http://www.iraqdevelopmentprogram.org/idp/news/news.htm

http://www.arabicnews.com/search/results.php?fm_query=iraqi+dinar

http://www.noozz.com/Iraq/Index.aspx?Id=0&SectionId=0

http://www.rebuild-iraq-expo.com/News_allnews.asp?page=14

EXCHANGE RATES:

http://www.ozforex.com.au/cgi-bin/Convert.asp

http://www.cbiraq.org/cbs6.htm

http://www.fms.treas.gov/intn.html

http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=IQD&submit=Convert

http://www.xe.com/ucc/

http://www.iraqdirectory.com/en/default.asp

FORUMS

http://www.investorsiraq.com/search.php?searchid=124811

http://www.fatwallet.com/forums/messageview.php?start=500&catid=52&threadid=270766

http://www.jubileeiraq.org/blog/

JB Smith wrote:
"And anyway i think i read someplace that Iraqis /like/ their new money and were lining up to get it. I mean not that they had a lot of choice what with the old stuff being worthless, but still i read they liked it. Was better than having Saddam looking at them? And it couldn't be easily counterfeited? Which was a problem. Etc.

No way i can dig up that reference, i just remember reading something to that effect."

JB -
I think remember reading same thing. Was report by Paul Bremer. Said Iraqis real liked new dinars. I'll try to find link to artical. Thanks you.

Sheraz:
what part of the gulf do you live in?
Maybe you could give us some more intimate details about that regions view point of the dinar, Iraq, etc

good point! i live on the outerbanks nc and there are only a few people i have found owning id.everyone here thinks id is just play money and you are crazy for investing.but this area is full of retired corporate executives and social sec .but i drive a ceo from vegas nad he doesent think it is a bad bet.i have 7 1/2 mil id's and i feel pretty good with the future of the dinar.i made a concious decision to buy id's and hope to reap a reward someday.if not then it has been a great ride.

Carl
I live in Saudi Arabia, people here also buying IQD, before Jan election it was trading at 1-million for SR:2700, on election day it went to SR:3000 per 1-m, then it came down to SR 2900, 2800 and now again its being traded at SR:2700/= currency dealer is buying at SR:2500/1-m dinar.
for inform 1 USD = 3.75 Saudi Riyal (SR). I feel, as said earlier let us wait for the new minister sit on his chair and see his plan and 2nd option is to wait for the next election in Dec and new formal govt.
take care all
Sheraz,,,

Sheraz;
thanks for the information.

Carl-
re: your post http://truckandbarter.com/mt/archives/000502.html#9603

On tuesday April 5th a meeting was held in Manama Bahrain ,the GCC 15th annual meeting
The meeting is to continue the dialogue toward the establishment of a free trade agreement (FTA) between the six-member Gulf Cooperation Council and the 25-member EU, which began 17 years ago.

with all due respect there was no announcement at this meeting,in regards to "moving the GCC common currency up to an earlier date"

the below links provide what really happened
in Manama on Tuesday April 5th ;

http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=32467&version=1&template_id=48&parent_id=28

http://www.middle-east-online.com/english/?id=13147

Your original post has much speculation in it
that is not based on fact or actual meetings
or announcements ,what you do is weave together a few news stories , with your own opinions and add
statements of your own that appear to be,or give the readers the impressions that they are from official sources;

"The Economic and Geopolitical consequence is beyond comprehension states some economic analysis. One of the ideas is to remove the Union Currency Dinar from the USD and peg it to oil invoices. "

This above statement as an example is not factual
you made it up - it has no base in facts

another;

"However, most analysis are now saying it is possible the currency will be on the market way before 2010."

Who said that? where ? what analysts?

I dont have any problem with anyone writing their
views and opinions but to post as you do these ' stories' to make them look like they are fact is confusing and absurd

If your going to open up your post with
such a statement; 'The GCC made an announcement today'- then when asked to provide a source for that statement , you have none...
what does that say?

I like reading your 'stories' carl as do others
but plse do not represent them as 'fact' or 'hard news' when they are not

Best
Red

HI ALL
SHERAZ GLAD TO HAVE A VOICE FROM ANOTHER PART OF THE EAST.CAN ALL OF YOU HEAR THAT,YHAT RUMBLING SOUND FROM THE MID-EAST.MAYBE IT"S A DINAR WELL READY TO EXPLODE,AND MAKE ALL OF US VERY,VERY HAPPY PEOPLE.IT"S GOING TO HAPPEN,THAT"S JUST MY GUT FELLING.GOOD LUCK TO ALL RON.

Ok, I'm going to ask a stupid question. First of all, I'm not an economist. Second of all, I don't claim to be near as smart as any of you when it comes to the Forex, currency speculation or the geo-political landscape. My expertise lie in other areas.

So here is my stupid question. Is Kuwait's dinar higher or lower than than the USD? I thought that Saudi Arabia's Riyal was the highest currency in the Arab world. Yet when I look on XE.com it shows me this.

1 Saudi Riyal= .27 U.S. Dollar
1 USD = 3.75 Saudi Riyal

1 USD = 0.292008 KWD
1 KWD = 3.42456 USD

According to this, the Kuwait Dinar is the standard we hope to achieve with the NID, not Saudi Arabia's Riyal. Am I right? (Though the Saudi rate wouldn't hurt the checkbook either)

Dave A

Red;
Quoting this article:
http://www.arabicnews.com/ansub/Daily/Day/031208/2003120815.html

Iraq might restore its membership in Gulf institutions
Iraq-Gulf, Politics, 12/8/2003

Kuwait's foreign minister Sheikh Muhammad Sabah al-Salem al-Sabah on Saturday announced that the Gulf Cooperation Council GCC states will discuss during its next summit by the end of the current month the issue of Iraq's return to certain institutions in the council.

The Kuwaiti minister said that the "question of Iraq's return back to take part in certain activities of the GCC will be discussed during the next summit of the GCC states, due to be held on December 22nd in Kuwait. He said that Iraq "used to take part in the activities before 1990, but the invasion of the Iraqi regime of the state of Kuwait resulted in expelling Iraq from all activities it used to take part in."

Member of the Interim governing council in Iraq, Ibrahim al-Jaafari, announced earlier in Kuwait that his country wants to be a full member in the GCC, considering that Iraq is a Gulf state and meets the conditions for joining the GCC. He said "we consider that new Iraq, which is an Arab Gulf state, should become a member in the Gulf Cooperation Council after the elimination of obstacles used to be hindering this because of the toppled regime."

He added that his country can give a strong support to the GCC, noting that he had received positive answers to his request from Gulf states that he did not disclose in name.

----------

This is a factual, and a still posted URL. The point I think Carl and others were making, Red, is that there are plans to eventually encorporate the IQD into the GCC, and these ideas are quite long-standing. Actual predictions about dates and times are, of course, subject to debate. But knowing that the GCC may consider this move, and noticing the Iraqi PM is now Ibrahim al-Jaafari who supported this move (so that there is no real opposition to it from that point of view), was also a helpful post. No one but God knows the future, but we do look for indicators and these posts from Carl have been helpful. I appreciated Carl posting these ideas and articles and took from them, not absolute prognostications of the future or definite dates to be set in stone, but indicators of possible entry of Iraq into the GCC with attendant upsurge in the fortunes of the Iraqi Dinar. I think we all know that dates of such things occurring can be changed.. to sooner dates as well as later, depending on the environment and circumstances. :)

Sara.

Here are the countries that would supposedly be represented in the new Arab currency, with their respective currencies valued to the US dollar according to xe.com. I've placed them in order of their worth.

Kuwait: 1 Kuwait Dinar = 3.42454 US dollars

Bahrain: 1 Bahrain Dinar = 2.65241 US dollars

Oman: 1 Oman Rial = 2.59740 US dollars

Qatar: 1 Qatar Riyal = .274832 US dollars

United Arab Emigrates: 1 UAE dinar =.272264 US dollars

Saudi Arabia: 1 Saudi riyal = .266647 US dollars

And maybe Iraq: 1 Iraqi Dinar = .000685424 US dollars

Is this right? Saudi Arabia, with the exception of Iraq is least among them?

Good research, Dave..

This speculation that the IQD could be in for a rise in order to become on par with the other currencies which would be in the GCC appears rational. I appreciate the posts by Carl, and others like you which have brought this out.

The Saudi Riyal being the lowest of the GCC proposed members, if the IQD were traded on par with the lowest one, it would bring the IQD up to.. 26 cents US? That would make the worth of the IQD at $260,000.00 US per one million Iraqi Dinars.

Interesting post, Dave..

Sara.

Notice we did not discuss any dates in these last posts - not 2007, 2010 or any other date - but we are just exploring if the "GCC acceptance of the Iraqi Dinar" CONCEPT is possible and rational, and speculating what it COULD mean at some future date to the Iraqi Dinar's value. I think others have said this could be a fairly long term investment. If so, other factors, like the Iraqi Dinar making itself a value on its own first, before admittance to the GCC (Gulf Common Currency), could come into play. Many factors go into the value of a currency.

Sara.

Iraq claims seizure of top Zarqawi aide
BAGHDAD (Reuters)

Iraq announced the capture of a senior aide to leading militant Abu Musab al-Zarqawi on Monday, hours after Zarqawi claimed responsibility for a suicide car bomb near the offices of Prime Minister Iyad Allawi.

The seizure of Abu Omar al-Kurdi, accused of masterminding some of the worst car bombings in Iraq, appeared to be a major breakthrough for the authorities ahead of next Sunday’s historic election, which Zarqawi and his followers have vowed to disrupt.

http://news.ft.com/cms/s/fd54d898-6dda-11d9-a60a-00000e2511c8.html

Dear Red,

- you're finally getting the gist of the T&B board!
Most are merchants selling the NID.
They're IQD Evangelists, and they're not stupid.
It will be interesting to see what they're writing in 2010 after 7 year holders of the NID have bent over and taken it up the wazoo. (multiple times)

Don't get me wrong, I'm one of those idiots too. I'm a glutton for punishment so i'm a holder. But I really don't think for one minute that these notes will be worth too much more than I bought them for. If it seems to good to be true, it usually is.

There will eventually emerge a reason nobody ever thought of. An unforseen turn of events, and act of god - whatever ... that will prevent the NID from appreciating in value. But we dream, and we keep dreaming, and so the dreamweavers will keep spinning their stories, fact or fiction - it matters not. It's all a sales pitch. It's the new Tulip Craze.

My first thought was, "That's too low to deign with a comment", but I revised my opinion to reply to your obvious jibe against my posts to this, Dewey...

I wish you didn't hold any Dinar. If I DID have any financial interest in the Dinar (which I don't) I would not sell to you. I wish such crude, rude, and disgustingly low persons as yourself were not poised to prosper from the blood, sweat, tears and hard work of truly noble men and women.

I am comforted by the thought that only strong men retain riches, and that you, for certain, have not shown that quality of strength in character to qualify for that.

Sara.

"Dewey",

First of all, I am not a "merchant". And, secondly, I would like to respond to a part of what you wrote.
You said: "Don't get me wrong, I am one of those idiots, too."

My wife's old Webster's dictionary lists the following definition for "idiot":
1. a person with an intelligence quotient of less than 25

While I am certainly no genius, my I.Q. has been tested, and it is a good bit higher than that.
BUT, you certainly have the right to post on this board, and call yourself an idiot.
I and the other viewers do not need any further verification (links, URLs or whatever), since you called yourself an idiot in your last post. Your last post was all that we need to verify your intelligence quotient. You stated it yourself- pretty convincingly.

If you are so unsatisfied with your purchase of the Iraqi dinar, sell them.

And, being a "glutton for punishment" is a TERRIBLE reason to be investing in anything, IMO. In fact, I wouldn't even consider investing in anything, if I had that type of attitude. I have never read or heard about anyone investing in something, because they were a "glutton for punishment" by being a "holder" of that investment - except for you.
But, it's your money, and you can spend yours anyway you want. But, you speak only of and for yourself when you used the phrase "ONE of those idiots".

Thanks, Robert.. I must agree with your assessment. I thought these were cute, and pungent, for the board to enjoy:

Earth is the insane asylum for the universe.

------------

A Cynic: A man who, when he smells flowers, looks around for a coffin.

Monetary and exchange rate policy:

* The current framework of broad exchange rate stability has worked well towards achieving price stability and we will preserve it for the time being. However, as the data situation improves and the CBI gains a better understanding of the transmission mechanism of monetary policy, the appropriateness of this policy regime as the best means in the medium term of delivering price stability will need to be reevaluated. The CBI would expect the exchange rate to be allowed to reflect the effects of structural changes in the economy and real shocks as needed. We will therefore be vigilant regarding developments that may call for greater flexibility of the exchange rate, including excessive downward pressure on the exchange rate that would threaten to reduce Iraq's foreign exchange reserves below a minimum acceptable level of $4 billion, or signs that inflation could exceed our forecast (as specified above).

* In order to facilitate the task of assessing the appropriateness of the current policy stance, we have formulated a monetary program for 2004 and 2005. A key element of the monetary program is the projection for the growth of money demand. This projection is related to assumptions and forecasts on economic growth, inflation, and any potential structural shifts in money demand relating to further remonetization of the economy. The projected growth in currency in circulation is consistent with the projected accumulation in net international reserves mentioned earlier and a policy of no lending to the government by the CBI.

* During 2004, the CBI has relied on foreign exchange auctions as the principal instrument in the conduct of monetary policy. The CBI has utilized the foreign exchange auction to manage liquidity in the system, to absorb excess dinars, as well as to provide foreign exchange to private sector activity. To allow for more flexibility in managing monetary policy, the CBI is in the process of broadening its set of monetary policy instruments. The CBI Board recently approved the creation of a lender-of-last-resort facility and an overnight standing credit/deposit facility, and has issued new regulations making the reserve requirement regime more flexible. The banking facilities should be in operation by October 1, 2004, and the reserve requirement regulation should be implemented by no later than December 1, 2004. Similarly, the newly introduced auction of treasury bills will help stimulate the development of a secondary market for these securities, which will enable the CBI to conduct open market operations. Moreover, in order to facilitate the formation of an appropriate benchmark interest rate, we will provide an adequate environment for the private sector's banks to increase their participation in the treasury bills auctions.

* The CBI is developing a strategy for communicating its policies to the public. It is seeking to explain its monetary framework aimed at achieving price stability. To inform the public of its actions, the CBI has developed a website where it publishes the results of its daily currency auctions and its monthly balance sheet, and has begun to issue a policy statement after board meetings on monetary policy. The CBI is working diligently to expand and improve information on its operations.

* In an effort to regularize the financial relations between the government and the CBI, the ministry of finance and the CBI are in the process of agreeing to restructure all government obligations held by the central bank. This agreement will be implemented in installments to facilitate the payments by the government, while minimizing any possible negative impact on the capital of the CBI, taking into consideration acceptable international accounting standards. The CBI also intends to return any excess realized profits (but only after the CBI's capital reaches its required regulatory minimum) to the ministry of finance. The government will be proposing an amendment to the CBI law that would facilitate the transfer of excess earnings to the ministry. The agreement also calls for a formal closure of the government overdraft facility at the CBI.

Al-Jaafari set to name new Iraqi government
April 13 2005 at 03:36PM

Baghdad - Iraq's new government is expected to be unveiled on Sunday when the assembly reconvenes, interim foreign minister Hoshyar Zebari said on Wednesday.

"The government is practically formed and it is up to the prime minister to announce it, which he may do when the assembly meets again," said Zebari, a member of the Kurdish alliance parliamentary bloc.

He said prime minister-designate Ibrahim al-Jaafari is holding "intense negotiations" with the bloc led by outgoing premier Iyad Allawi over his potential participation in the government.

Kurds are eager to include Allawi's list in their prospective coalition government with the Shi'a United Iraqi Alliance as a way to temper the influence of Islamists.

Members of his Al-Iraqiyah list, the third largest in the 275-seat assembly after the Shi'as and Kurds, have said they would join a coalition provided they are treated as equal partners and given adequate posts. - Sapa-AFP

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw1113393066103B262

Note this article from April 4, 2005 which states that EU and GCC foreign ministers were to discuss "developments in Iraq".

NOTE also this statement below in the article:
"GCC countries set up a customs union in 2003. They plan a common market by 2007 and a single currency by 2010."
-----------

Gulf Arab countries to resume EU trade talks
By Dominic Evans
April 04 2005 at 01:17PM

Riyadh, Saudi Arabia - Gulf Arab countries will resume free trade talks with the European Union in late May, a senior Gulf official has said, ending months of stalemate which Arab states blamed on a growing list of EU political and economic demands.

Gulf Co-operation Council (GCC) Secretary-General Abdul Rahman al-Attiya made the announcement after meeting finance ministers of the six GCC countries in Riyadh on Sunday night.

His statement came on the eve of Tuesday's annual gathering of EU and GCC foreign ministers in Bahrain, where the two sides will discuss how to advance the free trade talks as well as EU nuclear negotiations with Iran and developments in Iraq.

Attiya gave no details but a Gulf source said the six finance ministers agreed there "should be a new round of trade negotiations in late May or early June with the Europeans".

The GCC, a customs union and political alliance which groups Saudi Arabia, Kuwait, Bahrain, the United Arab Emirates, Oman and Qatar, has been negotiating a free trade agreement with the European Union for more than 15 years.

Last year Attiya criticised European requests for clauses in the proposed deal covering issues such as weapons of mass destruction, illegal immigration and human rights, saying the demands amounted to delaying tactics.

The Gulf source said the two sides later agreed informally to handle political matters separately.

But disagreement remained over access for Gulf exports to EU markets, he said. After agreeing to reduce tariffs on aluminium and fish - though not enough to satisfy the Gulf states - the EU was still reluctant to open up for petrochemical imports from the oil-rich Gulf states, in particular Saudi Arabia.

European Union officials argue that the mainly state-owned Saudi Basic Industries gets gas feedstock at concessionary prices, a charge denied by Saudi Arabia.

The European Union is also seeking greater service industry access in the Gulf states.

"The next round of negotiations will focus on that," the Gulf source said, adding that the GCC finance ministers agreed on Sunday to prepare a common list of services they were ready to liberalise, and a timetable for opening up.

GCC countries set up a customs union in 2003. They plan a common market by 2007 and a single currency by 2010.

But Saudi Arabia has warned it may have to re-introduce tariffs on goods from Bahrain after its tiny neighbour agreed a bilateral free trade agreement with the United States - a deal which Riyadh says violates the GCC's economic pact.

Oman and the United Arab Emirates are also discussing possible bilateral deals with the United States.

European officials have proposed that the communique from Tuesday's Bahrain meeting should include a reference to EU concerns that bilateral deals "risk undermining the proper functioning of the customs union", and stress the importance of further GCC integration, the Gulf source said.

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw1112608620728B241

Hi All,

Glad to see that Kevin saw fit to afford us an extension of the old site.

Just want to touch on Dave A's post of 13 April, 12:04 PM, discussing the recent exchange values
of the six GCC member countries, to include the IQD.

If we take the average of all seven monetary exchange values combined, then the one GCC currency would be somewhere in the ball park of - 1 [whatever it's going to be called]:1 USD = $1.35553 USD, which is a much better exchange rate than the Saudi $0.26 USD exchange rate, and could be a real possibility.

Just an observation.
_____________________________

P.S. Folks, Dewey's "Bio Rhythm" is merely out of sync with this board. Our rhythms are up, and his tends to be down. He threw a pity party, and we all know misery loves company.

He's having a bad day, feeling sorry for himself, and is looking for a hug.

Dewey probably invested more than he should have in the IQD, and things simply aren't moving as fast as he'd like/needs them to.

Dewey, Chill Out! Rome wasn't built in a day, so don't expect Iraq to do a 180 degree turnaround and be completely rebuilt in two years.

Go pour yourself a "double" of your favorite spirit, sit back and sip it slowly, and think positively.

We WILL profit from this venture/adventure of ours. The only intangibles are; exactly "when" we'll profit, and "how much" we'll profit from it.

All things considered Dewey; a country like Iraq, with all it's resources, and all it has going for it, is destined for success - huge success.

Case in point: Look at Germany, South Korea, and Japan. They rebounded from the aftermath of war, and two of the three on the loosing side. It took them as long as it did to rebound, partly because technology back then was no where near where it is today, as well as them lacking the vast amount of natural resources that Iraq possesses.

I'm preaching to the choir, but I'll say it anyway, "Iraq is on the fast track!" Think not? ...then look at where it was two years ago, and where it is today!?!?!

Heck, many skeptics proclaimed openly two years ago that Iraq wouldn't see the amount of progress it boasts today. You don't hear them spouting off anymore do you? ...no, you don't!

Use the past two year's progress as a guage, and then project out two more years from today... yeah, now you're getting the picture.

Calling all Skeptics! Calling all Skeptics! ...now hear this... "Relax, keep the lines of communication open here at the T&B, and keep planning those festivities on Gilligan's Island somewhere." ...(I've got dibs on Ginger. The rest of you guys can fight over Mary Ann and Mrs' Howell.)

Dinar Investors are here to stay!

Cheers All,

Bill

Just a thought?

I do not think it would be in our best interest ( as Dinar investors ) to have Iraqi Dinar rolled into the GCC Dollar until it has independent value. If the GCC dollar was introduced tommorrow, the exchange rate for the new note would only benefit the current Nations in the council. The Iraqi Dinar has no value to date. Did I miss something?

Regards,

Reply please!

http://www.alair.com/iaw/ http://www.rebuild-iraq-expo.com/

Bill,

I did the average and came up with: 1 dinar/riyal/whatever = 1.897686 USD. I don't think Kuwait, Bahrain and Oman would like this very much, while Saudi Arabia, UAE and Iraq would be thrilled.

Does anyone know how they did it with the Euro? How did they decide how to set the currency? What formula did they use?

Message to all:
As Sara said, please note that nothing has happened. We are speculating here. Don't run too far with these figures.

Hey Bill,
I want you to know that I agree with you wholeheartedly on your post. Like you said, Iraq is on the fast track. And, it truly has come a looooooong way! Like you and a number of people who post on this board, I choose the positive outlook. Sure, the not-so-good things happen, but we have to learn to expect them. And, we have learn to deal with them in a positive long-term, sober-minded context.

Keep up the great posts,all!
And, as Bill says, our "rhythms" are "up". KEEP a positive outlook on your investment outlook concerning the Iraqi dinar. Are you listening, Dewey? And, don't let anyone who chooses misery tear down your outlook. Misery begets even more misery.

Good and not-so-good things are going to happen on our Iraqi dinar investment journey, but that happens on ALL investments. In the end, I do believe that it will work out fine, or I would not have invested my money in it.
Just an observation from one investor to another - Robert

-

Al-Jaafari set to name new Iraqi government

April 13 2005 at 03:36PM

Baghdad - Iraq's new government is expected to be unveiled on Sunday when the assembly reconvenes, interim foreign minister Hoshyar Zebari said on Wednesday.

"The government is practically formed and it is up to the prime minister to announce it, which he may do when the assembly meets again," said Zebari, a member of the Kurdish alliance parliamentary bloc.

He said prime minister-designate Ibrahim al-Jaafari is holding "intense negotiations" with the bloc led by outgoing premier Iyad Allawi over his potential participation in the government.

Kurds are eager to include Allawi's list in their prospective coalition government with the Shi'a United Iraqi Alliance as a way to temper the influence of Islamists.

--------------------------------------------------------------------------------

Members of his Al-Iraqiyah list, the third largest in the 275-seat assembly after the Shi'as and Kurds, have said they would join a coalition provided they are treated as equal partners and given adequate posts. - Sapa-AFP

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw1113393066103B262

Red:
I just read your post about what type of information you stated I put on the board.
First! I have not put anything on the board that I have not picked up in articles, and when it is my opinion I state is my swag or opinion.
I do not even write down the article sites, when I jot down what has been written because it takes too much time. Some of the articles say the same things, and each writer will sometimes add information that the others have not.
I then take this information and put it together, so all of the minor details and facts can be read. Each reader can make up their own mind as to it worth.
Red, in regards to your first example, I don't know which article you read.
How many middle eastern rags do you think have written about that one meeting or statements from their members? I guess you have read them all, and you are now 100% certain, no reporter stated in any article what was posted.
Boy! I wish I had your research time and capability.
Red! I really don't have time to play your mind games.
So let me make this suggestion to ya, you take everything, that I have posted and label it in your file as worthless. Go ahead red throw it away,wipe it from your brain. That will make you feel better, and you have spoken your opinion. It has been duly noted.

Red:
I just read your post about what type of information you stated I put on the board.
First! I have not put anything on the board that I have not picked up in articles, and when it is my opinion I state is my swag or opinion.
I do not even write down the article sites, when I jot down what has been written because it takes too much time. Some of the articles say the same things, and each writer will sometimes add information that the others have not.
I then take this information and put it together, so all of the minor details and facts can be read. Each reader can make up their own mind as to it worth.
Red, in regards to your first example, I don't know which article you read.
How many middle eastern rags do you think have written about that one meeting or statements from their members? I guess you have read them all, and you are now 100% certain, no reporter stated in any article what was posted.
Boy! I wish I had your research time and capability.
Red! I really don't have time to play your mind games.
So let me make this suggestion to ya, you take everything, that I have posted and label it in your file as worthless. Go ahead red throw it away,wipe it from your brain. That will make you feel better, and you have spoken your opinion. It has been duly noted.

Carl-
We all have the power to research anything that is written in the news with the capabilty of the 'net.
It's called "google'
It's pretty simple....
go to google,go there pick news category and type in: "GCC announcement",or "GCC countries currency"
If its out there , or been written about it will
come up.:)

Red

Carl and Red,

Lets keep this forum going. I can appericate your concern Red but, lets chalk this one up to one small mistake and move forward. Please do not confuse what this is all about. Support, Faith and most important Freedom for the Iraqis.

Regards,

Saudi crown prince to meet with French president and prime minister for extensive talks
By Agence France Presse (AFP)
Thursday, April 14, 2005

PARIS: Saudi Arabia's crown prince and de facto ruler Abdullah bin Abdul Aziz arrived in France on Wednesday for a two-day official visit expected to focus on Iran, Lebanon, Iraq and the fight against terrorism. The Saudi crown prince was greeted at Orly airport south of Paris by French President Jacques Chirac.

After his visit to France, Abdullah will head to the United States for talks with U.S. President George W. Bush at his Texas ranch, and then he will travel to Canada.

In an interview published Tuesday, Abdullah told France's Le Monde newspaper that his country would combat terrorism for as long as necessary.

"Terrorists are enemies of Islam, humanity and mankind. We will wage war against them for 10, 20, 30 years if necessary, whether they are Muslims or not," he said.

"We began by asking them to come back to reason, wisdom and dialogue. In vain. They continued their actions. From that point on, violence must be fought with violence," Abdullah told Le Monde. But the Saudi crown prince added that the fight against terrorism must also include choking off terrorist financing via a crackdown on money laundering, the drug trade and the black market. - AFP

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=2&article_id=14278

ISX absorbs downturn, April 13

As was widely anticipated the inertia of the downswing extended to today's trade in the Iraq Stock Exchange. In initial cold trade share prices plummeted, as much as 10%, sweeping most companies with very few exceptions. One hour into the trade session, however, the market rallied with some shares recovering some of their losses. Trade in the Iraq Stock Exchange is still manual arranged in two sessions a week each for 2.5 hours.

The downward cycle started four sessions back after a streak of consecutive increments for the most part of March. Bank shares in particular made spectacular gains during the March upswing, some rising by as much as 100% and more. The downward move was accentuated by slight fluctuation in the exchange rate of the Iraqi currency against the US dollar. The deviation in the exchange rate of the Iraqi currency against the dollar ended today with the exchange rate back to ID1460 per each US$. Two days ago, the rate plummeted momentarily to ID1510 depreciating down by 4% from a steady line of around ID 1445 to the dollar.

Some brokers say that half way into the session they were flooded with buy orders from investors monitoring price movements. Brokers, two from each licensed company with a seat in the ISX, communicate verbally with assembled investors who crowd the investors' gallery next to the trading hall. With the advent of mobile telephones, many brokers also maintain telephone contact with their VIP investors, some of whom are stationed outside Iraq in countries like Jordan, Dubai, the US and UK. 'When the share price of the Middle East Bank fell below ID7.5, we started executing limit orders to buy several million shares of the stock', one broker noted. There was little chance of buying the whole amount as price soon jumped up to ID 7.75, he added. The shares of this particular stock closed the session at ID 7.75 down only by 0.6% from the close of previous session. There are 16 private banks listed in the ISX. They make up the lion share of total trade volume. Today for example there were some 300 million bank shares traded for a value of ID 1915 million or the equivalent of $1.311 million. With total value of trade at ID 2,522 million, banking accounted for 76% of this total.

Meantime reliable sources indicate that progress is being made towards the opening up of the exchange to foreign investors. The Iraq Stock Exchange is to date closed for foreign investors who want to invest in the 80 companies listed in the exchange. These sources indicate that the ISX is negotiating the regulatory framework for such a move with the Securities Commission, ISC. The latter has oversight obligations over the capital markets in Iraq. The ISX needs the blessing of the ISC on systems to handle foreign investment covering matters such as financial settlement of transactions, order arrangements, identification documents of foreign investors and so on. A balance must be reached whereby a friendly un-intimidating system is installed but one with enough safeguards to protect foreign investors against corruption and fraud and also meet international standards on such matters as money laundering. Iraq is counting on a large influx of foreign capital to rebuild its shattered economy. Noticeably, the Ministry of Planning and Development Cooperation, the equivalent of and economy ministry in other countries, was quoted today in local newspapers as advocating the opening up of the Iraqi economy including the ISX to foreign investment. If accurate, observers note, this is an important development as the ministry was commonly believed to be on of the last remaining bastions guarding old conservative policies.

DISCLAIMER: This document has been compiled and issued by Kubba Consultants, which has obtained the information from sources it believes to be reliable, but Kubba Consultants makes no guarantee as to either its accuracy or completeness and has not carried out an independent verification. Kubba Consultants accepts no responsibility or liability for losses or damages incurred as a result of opinions formed and decisions made based on information presented in this report. This document is not an offer to sell or solicitation to buy any securities. The opinions and estimates expressed herein are those of the issuer.

© Kubba Consultants 2004

http://isx-aman.com/news/rep_2005_04_13.htm

sporter4551,

I think Dave and I were talking about the IQD rolling into the GCC's proposed new combined currency (7 Nation Currency) in the future - not in the next few months, or so.

Whether the NID has no current "Open Market" trading value, or not, I don't think should be an issue. Once it is incorporated into the seven member currency, just like the Euro, it's then on par with the other participating countries.

I believe it's value would quantify overnight; sort of like "valuation by association".

We were just brainstorming as to what value the currecny might have under today's existing exchange rates, if all seven countries combined their monetary values today.

Just a bit of speculation to pass the time ..you know, a "what if" scenario.

Cheers,

Bill

(Thanks for the positive feedback Robert)

HELLO ALL
THIS IS THE BEST BOARD THERE IS ON LINE ABOUT NID.
KEVIN HAS GIVEN US THIS OPERTUNITY TO SHARE OUR VIEWS,AND FINDINGS WITH EACH OTHER.THERE ARE GOING TO BE FLARE UPS NOW AND THEN,MOSTLY BECAUSE SOME PEOPLE HAVE A MISERBLE LIFE AND CAN NOT STAND TO SEE ANYONE WITH GOOD TIDINGS.WE ARE A VERY SPECIAL FAMILY HERE,NOT MANY CAN SAY THAT.I SAY LETS ASK QUESTIONS ABOUT POSTS,NOT SLANDER THE PERSON THAT HAS SOMETIMES TAKEN HOURS TO READ AND RESEARCH.HEY GANG"YOU KNOW WHO YOU ARE"LETS ALL KEEP UP THE GOOD WORK.
GOOD LUCK TO ALL,RON.

Bill:

Ginger or Mary Ann?

Not so fast. Ginger's mine. (Unless you've got more dinars than me.)

Dean and Bill;

Does that make you native islanders the prof, Gilligan, Skipper, or Thurston Howell the Third?

Sara

PS

No one will ever win the battle of the sexes; there's too much fraternizing with the enemy." (Henry Kissinger)

Gee Red;
At didn't realize google was all knowing...
What a brain fart...
No wonder you didn't find the article..

Carl-
Again, if the GCC had made an announcement as you claim;

"The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date.
They will have the monetary units in place by fall of 2005."

Such a momentus announcement as this if fact
It would have been in many news medias picked up by Google,or any search engines for that matter

The fact that you cannot understand that,shows your lack of knowledge,and ignorance on this subject and how things work regarding news in the
internet age.

but I am not surprised,you and others that post here are confused,and clueless,,,
When it comes to Global economies and exchange rates reality relating to the dinar,,
Just a lot of inane posts that are beginning to show that people involved with the dinar are not
the 'sharpest tools in the shed'

What does that say about investing in the dinar?
not much,I'm Afraid,,

adieu~
Red

RED you are so highly inteligent and motivated and seem to know so much about everything that applies to the dinar, why dont you list facts and documentry to back up everything you have to say about what you know! by the way just what is it that you do know?. we all know that this thing could just fall apart tomarow, that is what makes it so much fun to watch, but you know what as every day goes by it just looks better and better so why dont you just get off Carls back and go to some other forum and talk about things you know about like picking your nose or scratching your butt.

Red, I did a Google search and came up with a few articles from the net which do seem to indicate a possible earlier date.. quite a lot of opinion columns but I was looking for something more definitive than opinons.
I found this one which is older (2003) and yet it quotes that certain EXPERTS said this. I doubt ALL these experts have been silenced since this was published. :)
To my mind, Carl saw another article or two from these same experts recently.. and they all seem to be saying it is possible it could be ahead of schedule.
Carl's quote of:
"The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date. They will have the monetary units in place by fall of 2005."
This could easily be these same experts only updating their predictions..
Carl's post does not show, "lack of knowledge,and ignorance on this subject and how things work regarding news in the internet age." but the perceived lack is more likely due to your not looking in the right places or lack of coverage in the media due to it being a newer prediction. However, there are references for the idea dating back some time, as this shows.

GCC on course to single currency
(Trade Arabia 23/3/03)

ABU DHABI: The GCC countries are likely to achieve their goal of a single currency ahead of schedule, experts told a conference in the capital. Experts also cautioned that banks in the GCC must prevent erosion in loan quality and strengthen their financial capital to achieve greater efficiencies. "GCC countries have expressed a desire to achieve this target and the process shall become easier after pegging their currencies with the US dollar in early 2003. It was also found that all six countries' financial indicators are very much in line with euro convergence criteria," according to their study presented at the International Conference on Financial Developments in Arab countries.

G041-210403
Posted 21st April 03

http://www.middleastlogistics.com/custom_mel.htm

hey all,

new to the board and i just read the last months worth of postings. GOOD STUFF. Fed Ex delivered my ticket today and i can't wait to ride this train. i have been following iraq and the nid for about a month and just now discovered this board. so much exciting information. i signed up for the new york times e-mail service (free) and many of the articles i saw here were delivered to me everyday. just a heads up on another source. anyway bill, carl, sara, sportster great posts thanks for your information. i spent my tax return on dinar. while others buy short term items i'm hoping like all of you that all the time, money, and human resources we've put into iraq pays off in my bank account. if not, the ride has been worth the fall. either way i've enjoyed learning about what makes an economy tick, information i was ignorant to just last month.
THANK YOU ALL

Red Wrote:

"Carl-
Again, if the GCC had made an announcement as you claim;

"The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date.
They will have the monetary units in place by fall of 2005."

Such a momentus announcement as this if fact
It would have been in many news medias picked up by Google,or any search engines for that matter

The fact that you cannot understand that,shows your lack of knowledge,and ignorance on this subject and how things work regarding news in the
internet age.

but I am not surprised,you and others that post here are confused,and clueless,,,
When it comes to Global economies and exchange rates reality relating to the dinar,,
Just a lot of inane posts that are beginning to show that people involved with the dinar are not
the 'sharpest tools in the shed'

What does that say about investing in the dinar?
not much,I'm Afraid"

Red - Thank you for the voice of reason. The exchange of information in the internet age certainly does blur many lines.

It's so easy to copy and paste a story and intergect some new words and sentences.

It's the perfect evangelist tool.

That's why these links are the best things for people interested in the NID. They're to allow others to read the news for themelves and depend less on the regurgitations of the "cutters and pasters" that seem hell bent on proving their own views.

Again - it will be interesting to read what these people are writing in 2010 when the NID has climed way up to 1420 / USD! (If it's still being used at all)

The links again for all those who want to do their own research:

----------> NEWS LINKS:

http://www.menareport.com/en/business/

http://www.iraqdevelopmentprogram.org/idp/news/news.htm

http://www.arabicnews.com/search/results.php?fm_query=iraqi+dinar

http://www.noozz.com/Iraq/Index.aspx?Id=0&SectionId=0

http://www.rebuild-iraq-expo.com/News_allnews.asp?page=14

----------> EXCHANGE RATES:

http://www.ozforex.com.au/cgi-bin/Convert.asp

http://www.cbiraq.org/cbs6.htm

http://www.fms.treas.gov/intn.html

http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=IQD&submit=Convert

http://www.xe.com/ucc/

http://www.iraqdirectory.com/en/default.asp

----------> FORUMS

http://www.investorsiraq.com/search.php?searchid=124811

http://www.fatwallet.com/forums/messageview.php?start=500&catid=52&threadid=270766

http://www.jubileeiraq.org/blog/

News:

Iraq: Report Says Central Bank Raised Dollar Exchange Rate Against Dinar
Apr 14 2005 The official currency trading at the Iraqi Central Bank has for the first time under gone the process of selling dollars for more than the normally accepted price of the past year and a half. The sale mechanism of foreign currencies through the method of auction had continued to present the dollar at its same value against the Iraqi dinar for more than a year and a half.

Link:

http://www.noozz.com/Iraq/Index.aspx?Id=0&SectionId=0

If anybody understands the NOOZZ announcment posted by Joe, please explain. Is this favorable for IQD holders? Does this mean the value of the IQD is rising? Thanks in advance -
Johanthon Rapson

Insurgency Events Keep Declining
According to the Baghdad Council the tide is turning against the insurgency. It seem they have gone from 10 explosions a day to only 2 to sometimes none.
Reported kidnappings have gone from 20 a week down to only 2 or 3.
The local people are now turning in the surgency. Some of the councilmen stated, they expect the insurgency to be gone or almost gone by 2007.

7,733 Articles
Just on the search engine Yahoo there were 7,733 articles written about Iraq's Business and economic development.
For further information, please contact red as he as read them all on yahoo,and all of the articles that are listed on the other search engines, plus the holy of all holy's, "Google". He can give details on every article as to what was written and not written.
There will be no need to contact any other search engines except google, because google is all knowing, and there is no longer any need for any of the other search engine companies.
I have contacted them, and they have been advised to shut down, as they are totally a waste of time.
Red has decreed this as so, and therefore it is official. Even better, just ask red, there is no longer any need for any of your lower intellect dinar investors to do any searches anymore. He is now the top dog of Iraqi research and articles written on the subject.
I am sure each one of you dinar investors were justed warmed to the bone with love and kisses from red, when he displayed his true feeling about your intellect.
Gosh! to have such foresight,and wisdom. Just to be in his presence must be a humbling experience.
Wow! red you must put yourself on a college circuit spreading your words of golden truth. You and Professor Ward from Colorado could team up. What a pair, just like potato chips and coke.

The more places disinformation is posted, the more ambiguous the original source becomes. This juicy one from the IraqInvestors forum was copied to T&B recently and then back to the forum.

"I found this over at T&B , but couldnt find a link anywhere . I could die happy , if this was true.

"PAY CLOSE ATTENTION TO THIS
The GCC announced today, they are considering moving the date of the GCC common currency up to an earlier date.
They will have the monetary units in place by fall of 2005.
The Currency, whatever the name, will have the backing of 385 Billion dollars, with the structure of the countries listed under the dinar limited to having a debt ratio of only 60% of their combined GNP. Under this structure, this dinar has the protential to be the strongest currency in the world today.
The Economic and Geopolitical consequence is beyond comprehension states some economic analysis. One of the ideas is to remove the Union Currency Dinar from the USD and peg it to oil invoices. This will place the dinar not only as the anchorage dinar but also used in banking reserves.The common market will be established, and ready by 2007. The currency can be put into play anytime after 2007, with the target date set a 2010. However, most analysis are now saying it is possible the currency will be on the market way before 2010.
It is now almost a certainity, Iraq will be placed in the GCC for many reasons. It use to be in the GCC, until Saddam attacked Kuwait. By all indications last week, the GCC, has given positive overtures to Iraq at rejoining.
How the dinar will be valued is still up in the air. The best guess, is the dinar will be valued somewhere in the middle of the now existing GCC dinar values.
But this is just a swag.
Either way, you can be assured the value of the iragi dinar is going to increase significantly.
So the best bet is between 2007 and 2010.
AND THE IRAGI DINAR VALUE BUILDS DAILY..."

It starts a buzz and then nobody really knows where it came from, and no original legitimate news source can be referenced. As someone stated yesterday the web lends itself to this “tailor-made” information gathering which can be very confusing and dangerous.

The rule is this; until you see a piece of information on 2 or 3 LEGITIMATE news channels, you should assume it's a fabrication meant to fulfill someone's ulterior motives. In the case of the NID, the motive is very simple to deduce. Sell more Dinars! Public manipulation is not something done by just armatures either - it's a favorite tactic of politics. The public sale of NIDs before it's put in use is a well thought out plan.

Until you can go to a bank and cash in your NIDs - don't be swayed by ANYTHING you read on public boards like T&B. Take it with a HUGE grain of salt. JMHO

hey carl
when you use a search engine you really need to qualify your searches

Like this::
>GCC countries common currency
If you enter that on google you get back
>12 results

just a note: Google is connected to most major search engines & over 5'000 news sources (yahoo,metasearch,metacrawler, · Yahoo! · Ask Jeeves,dogpile,About · LookSmart · Overture
FindWhat etc )

If this article was written it would be picked up
somewhere
good luck on your re-search carl

Here are some other seach engines to use for cross-referencing information. ALWAYS plug keywords into a few of these before believing anything! Public message boards are NOT news sources unless backed up with legitimate news links!! Good luck

http://www.dogpile.com/ DOGPLIE

http://news.ask.com/ ASKJEEVES

http://mamma.com/ MAMMA

http://news.google.com/ GOOGLE

HI ALL
47 BILLION IRAQI DINARS TO IMPROVE SERVICES IN KARBALA`A
MINESTRY OF MUNICIPALITY AND GENERAL WORKS ALLOCATED 47 BILLION IRAQI DINARS TO IMPLEMENT SERVICE PROJECTS IN KARBALA`A GOVERNORATE WITHIN THE MINIETRY`S INVESTMENT PLAN FOR 2005.
GOOD LUCK TO ALL RON

Thanks for getting us back on track Ron

Harold wrote:http://truckandbarter.com/mt/archives/000502.html#9696

"The public sale of NIDs before it's put in use is a well thought out plan."

The above statement has more truth than many of you know
I have a few friends in the US treasury dept. that leaked info to me that the sale of the NID
by Iraq and CBI was planned by CPA(bremer dinar) and our administration from the getgo
Knowing full well that individuals would purchase
the NID for speculative investment purposes and would provide Iraq with a steady revenue of USD income.

As far as the NID appreciating in value,not likely in the near future,the CBI and Iraq will control the present rate of 1460 at a fixed rate of exchange to provide equilibrium with the USD and their foreign-exchange reserves

S.Korea is doing the same with the won

from Dow Jones newswires(April 11,2005)
---
GINOWAN,Japan-South Korea's central Bank has no plans to diversify its foreign exchange reserves away from the US dollar,as such action could further strengthen the South Korea currency,Bank of Korea Gov. Park Sueng said yesterday.
"We can't have a further fall in the dollar," Mr. Park Said."the Won has appreciatted 2% so far this year[versus the dollar]
South Korea's Foreign-exchange reserves are the fourth largest in the world at $205.5 Billion,behind Japan,China and Taiwan.
---

The CBI and Iraq do not want the NID to 'strengthen' or appreciatte(fall in dollar) it is in there vested interest to keep the NID stable at a fixed rate of exchange 1460 and the USD high.
This is what Central Banks do, for the NID to appreciatte would translate to many government officials losing their positions,and the macroeconomy of Iraq to destablyze. This is an example of the reality of Global economics.

Think about it. . .

Gene

-----
Blessed is he who takes himself seriously, for he shall create much amusement.
---
I've taken a vow of poverty. To annoy me, send money.
----

Holly smokes Gene ... so we are not going to be millionaires tomorrow... Geeze what a party pooper.. ...

On a serious note it might be worth.. investing in the 500 notes and lower to hold on to them for a while..

See ya,

Ian

Hey Ron:

I agree with Ed. Thanks for chiming in. I just got on the board.

Chad: I liked your last post to Red. If you want to know what Red knows about "Global economies", read his posts on the last thread. I am sure that you will find that Red/Kazoo/Dewey have no more knowledge than we do regarding the dinar- maybe less. He/they have an awful similar message,though. Could it be that they all are one person? Am I seeing a pattern here, Red?

Why don't he/they show us some intellect? All that i'm hearing is some senseless tirade against Carl and some cutting and posting of sites that any second-grader could find on the internet. That is old news, Red. Show us some knowledge about "Global economies", Red. And, I shouldn't forget that he/they now know what the Iraqi dinar value will be in 2010 ("1420"). You better get to selling your Iraqi currency, Red.
Red: I have read your previous posts and you know nothing more than the rest of us. I admit that I don't know everything about the Iraqi dinar. But, you don't either. So, quit the chest-beating and go somewhere else if we aren't intellectual enough for you and your other personalities.

Gene posted:
The CBI and Iraq do not want the NID to 'strengthen' or appreciatte(fall in dollar) it is in there vested interest to keep the NID stable at a fixed rate of exchange 1460 and the USD high.
This is what Central Banks do, for the NID to appreciatte would translate to many government officials losing their positions,and the macroeconomy of Iraq to destablyze. This is an example of the reality of Global economics.

----
This is a very interesting thing, Dinar board.. Gene knows exactly what the Central Banks do (particularily in Iraq), what their "vested interests" are, and how to keep them all employed, (or how they might all lose their jobs). :)

Why DO they have banking conferences, anyways? They should just ask Gene, as he knows what is the plan for all eternity as far as Iraq is concerned. Fact is, Gene says they never want to strengthen the Iraqi Dinar. He knows so much, and he says it will destabilize the entire economy to do so.. We all know he must have an inside line to what is happening we don't have, what do you think?

An interesting example of supposed "Global economics".. what degrees do you hold in economics, Gene, by the way?

Insurgents come looking for deals to enter politics
By Jim Michaels
USA TODAY
BAGHDAD — Midlevel leaders of the insurgency in Iraq are attempting to give themselves up in return for deals that would allow them to join the political system, U.S. and Iraqi officials say.

“Groups that participated in the insurgency are now coming forward and saying they want to participate in the politics,” Steven Casteel, the senior U.S. consultant to Iraq's Interior Ministry, said Wednesday. “Normally, it's a cell leader coming forward through an intermediary.”

Marine Col. Mark Gurganus, whose regiment is operating in the Fallujah area, said this week that a cell leader recently contacted Iraqi intermediaries about making a deal. Gurganus said Marines were closing in on the cell leader, whom he declined to name, when the man decided to try to negotiate.

“He has made overtures that he wants to talk,” Gurganus said. But the colonel said U.S. forces are wary of the insurgent leader's intentions. “He's got to bring more to the table than his skin. He will have to show us he's going to dismantle his piece of the pie.”

His concerns are warranted. The insurgency here remains deadly. Bomb attacks on Wednesday killed at least 17 Iraqis, including a dozen members of the Iraqi security forces. “The insurgency's not dead yet,” Gen. George Casey, the senior U.S. commander in Iraq, said in an interview Wednesday.

But successful elections in January and the increased presence of Iraqi soldiers and security officers have undercut insurgent support. Iraqi and U.S. officials hope the momentum will help win over the Sunni Muslim Arabs who make up the backbone of the insurgency. “They're trying to engage in the political process,” Casteel said.

Iraq's government has discussed an amnesty program for insurgents but has made no decision. Casteel said that any decision will be up to the Iraqis but that the U.S. government supports reconciliation with some Iraqis who supported the insurgency. “We've got to give them the flexibility to bring people into the system,” Casteel said. “This is an Iraqi process.”

Some reconciliation with insurgents is inevitable. In Fallujah, a predominantly Sunni city that was in the control of insurgents for about six months last year, U.S. forces are trying to re-establish a city government. It will be hard to find locals without some connection to the insurgency. “At some point in time, we're going to have to accept some people who are dirty,” Gurganus said.

http://www.usatoday.com/printedition/news/20050414/a_insurgents14.art.htm

Keep this in mind, and you'll be just fine.

http://www.stock-market-crash.net/tulip-mania.htm

http://www.investopedia.com/features/crashes/crashes2.asp

Tulips have no intrinsic wealth..
Iraq is the second largest producer of oil in the Middle East..
And your point?

I know the constant attacks by Insurgents are horrible in their toll.. I grieve over each innocent that they kill in cold blood, sowing for themselves an increasing harvest of butchery which will one day fall back on their own heads (as you sow, so shall you reap).

Those who are killed, both Iraqis and coalition partners, are doing what is right in spite of the toll they are having to endure. You do have to ask.. would it be better to let the Insurgents retake the country and live like it was under Saddam again? The terrorists are just Saddam's old guard and their sympathizers, after all..

With these kinds of death tolls, quoted below, the casualties in the War for Iraqi Independence (without meaning any deprecation of that sacrifice) seems in relation, quite light.

Mass grave found in Iraq
April 13 2005 at 02:16PM
Iraq - A mass grave containing dozens of bodies dating back from the ousted regime of Saddam Hussein was discovered on Wednesday in the Shi'a city of Nasiriyah, said a local official.

"We have exhumed 25 bodies so far," said Haidar Ali, a provincial government spokesperson.

Locals dug up the grave after talk went around about its existence on the banks of the Euphrates in Muhiya, on the western approaches of the city.

The former regime brutally oppressed a Shi'a uprising in southern Iraq during the first Gulf war in 1991.

About 290 mass graves have been uncovered since Saddam's downfall in April 2003.

They contain the bodies of 300 000 people believed to have been killed under his regime, outgoing human rights minister Bakhtiar Amin said in January.

He said the total number of missing could be close to one million.

Saddam, currently in a United States detention centre in Iraq, faces seven charges of crimes against humanity including a 1987-1988 offensive that saw Kurdish villages razed and the gassing of the village of Halabja that left 5 000 people dead. - Sapa-AFP

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw11133930628B262

Yes, I must agree. The final outcome of all this needless butchery and senseless mutilation will be a much stronger Iraq. One where it's people can walk in the light of the sun. Sooner then we think, the tide will turn. As it says in Job; “My days are swifter than a weaver's shuttle.”

And we must hope that with these changes when the suicide bombings finally cease, that women are looked upon as equals rather than shameful sub-citizens peering out from under their bhurkas. Men can find more constructive things to do with their time. As it's so beautifully put in the Book of Deuteronomy

24:5 "When a man hath taken a new wife, he shall not go out to war, neither shall he be charged with any business: but he shall be free at home one year, and shall cheer up his wife which he hath taken."

Those who doubt, lack only the inner strength to awaken their spirits to the reality of what is, what was and what can be. To hope means to have faith. To doubt and cynically criticize is merely espousing ignorance.

you know, i could really care less about what you guys think about each other. if it ain't got nothing to do with whether are not these dinars are going to pay off, i'd really rather not waste the time picking through all of your B.S. just to find some real information. worst case scenarios are fine, lay it on me, but name calling because you're to ignorant to to come up with a viable argument is just that, ignorant.

you know, i could really care less about what you guys think about each other. if it ain't got nothing to do with whether or not these dinars are going to pay off, i'd really rather not waste the time picking through all of your B.S. just to find some real information. worst case scenarios are fine, lay it on me, but name calling because you're too ignorant to come up with a viable argument is just that, ignorance. just correcting my spelling before i get any knucklehead responses about usage.

How many dinars fit in a shoebox if one has 25,000 dinar notes?

Red,

Shame on you for not playing nice...

You're obviously bored and looking to incite a bit of drama here at the T&B. It's either that, or you are - in actuality - an arrogant little snob, in dire need of having his silky knickers lowered, to have his little bottom blistered.

My friend, we're all equals here; regardless of our typing skills, intellect, experience with world financial matters, etc, etc. It has been my observation [since July of last year] that 99.9% of the folks that frequent this site consistently bring something of value to the board. It's all part of the synergy of this thread, and I don't mind saying I thoroughly enjoy every ounce of it.

Mr. Brancato has kindly devised this forum for IQD investors to be able to come together and share their information, speculation, what-have-you, regarding the future prospects of the Iraqi Dinar. And, I don't recall any disclaimer on this board stating that only "self proclaimed financial elitist" need tread here. So, where do you get off insulting the lot of us? ...That's just it Red, you don't!

If all you have to bring to the table is a bunch of technical debate about what was said/written, by whomever, whenever, etc, then take your anal perfectionism and go start your own thread at some other site.

The thing that really irritates me is that you dare to insult Carl of all people; as well as the rest of us, as a whole. I speak for many here when I say that, "I fully respect Carl, and his input - immensely.".

Your attempt, on the other hand, to offer something pertinent to this discussion tends to be complete and utter drivel.

In fact, I look forward to reading Carl's swag on issues concerning the NID. You sir, are not even in his league when it comes to mustering an attempt to decipher the dynamic intricacies that surround the political and financial dilemma unfolding before our eyes in Iraq. So, take your trivial nonsense and go stick it up your long pointed nose.

Shape up and show some respect, or ship out!

Cheers,

Bill

P.S. Welcome to the board "guy incognito". Nice to have you.

P.S.S. Mucho apologies for the inconvenience proteus - I guess you'll just have to pick through the BS my friend

Kateb said,
"Those who doubt, lack only the inner strength to awaken their spirits to the reality of what is, what was and what can be. To hope means to have faith. To doubt and cynically criticize is merely espousing ignorance."

That was a very good post, Kateb.

Hey Bill,

WHOOPEEEEE!! I could not have said it any better myself. That was a GOOD one, my friend.

I have been told by a few people that there is a Wells Fargo up and operating in Iraq and I also heard its in the process of being opened. Does anyone have any info about this????

Just a thought!

Can we please reply to questions on this forum?. I would like to see things in a different prespective now and again. Thank all.

Published: 8/4/2005, 08:50 (UAE)

Talabani offers amnesty to Iraqi insurgents

By Jumana Al Tamimi, GCC and Middle East Editor

Dubai: Jalal Talabani, the first Kurdish president not only in Iraq but in the Arab world, was sworn in as president during yesterday's session.

Talabani, the first Kurdish president not only in Iraq but in the Arab world, was sworn in as president during yesterday's session.
"I swear by God the great that I will work with devotion to preserve the independence and sover-eignty of Iraq and to preserve its democratic and federal system",Talabani said,

He also proposed an amnesty for insurgents to "give them a chance" to integrate into Iraqi's "democratic process".

Talabani and his two deputies, Abdul Abdul Mahdi and Gazi Al Yawar, also elected yesterday Ebrahim Al Jaffari, a widely-respected figure among Iraqis regardless of their ethnic backgrounds, as prime minister.

Jaffari, a Shiite, promised at a press conference, to form his "government within two weeks, even though I have a month to do it".

Jaafari, who holds a more powerful job than the presidency, has to get the approval of the 275-member Parliament, which can call for writing the draft of the new permanent constitutuion in Iraq, according to the earlier announced steps toward Iraq self-government.

Iraqis will be asked to vote on the proposed constitution by October 15.

http://www.gulf-news.com/Articles/RegionNF.asp?ArticleID=159839

The largest producer of oil in the Middle East (Saudi Arabia) will affect the second largest (Iraq) by what it supports, will it not?

Democracy in Saudi soon, says Abdullah
(AP)
14 April 2005
PARIS — Saudi Crown Prince Abdullah bin Abdulaziz said in an interview that the kingdom is on the way to democracy, and will fight terrorism for decades if necessary.

The crown prince laid out his long-term vision for the country ahead of a two-day visit to France starting yesterday to include talks with President Jacques Chirac at the presidential palace in Paris.

Crown Prince Abdullah said Saudi Arabia would press on in its own war on terrorism that began after a string of suicide bombings, kidnappings and gunbattles in the country since May 2003. He also insisted his country is on the road to democracy.

“We are working to set up true democracy, the democracy that we want,” he said when asked about what Saudi Arabia will look like in 20 years. “I hope it will take less than 20 years to get there.” Crown Prince Abdullah is expected to travel to the United States later this month.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/middleeast/2005/April/middleeast_April377.xml§ion=middleeast&col=

Sporter.. sometimes the board moves pretty quickly.. which questions were you referring to that were left unanswered?? If it was one of yours, you could repost it. :)

Sometimes a newbie will ask something so obvious to those who have been on this board for a while, something that has been answered so many times before.. one almost wishes for a reference guide of FAQ (frequently asked questions) to point them to, like most commercial sites have.

Or you get a question like the post above about how many Dinar fit in a shoe box.. :) I don't think they really want an answer to that, beyond a smile.. do they?

Sporter.. if it was something very important and new, asking a second time or third, is not out of place. If it is something old.. well, just wish there were a way to reference it in a way in which you could point back to certain posts to answer such questions.

Not griping, the board is great.. Thanks Kevin for the forum, and ability to post and be part of the board. :)

Sara.

55 million dinar fit in a shoe box just right.

Tryinng to peg the Iraqi Dinar..

I was looking at the worth of the different GCC currencies.. kinda wierd that Saudi Arabia is on the bottom with the least valued currency.. however it is the largest oil producer...Why is this?

Why are the other currencies so valauble? What are the being pegged with?

If the Iraqi Dinar is going to be pegged at it's oil production, maybe someone could compare the barrel per day output with the other GCC countries and get a best guess at the peg for the Iraqi Dinar...?

Any help with this?

Hey, you can get a VISA card at Warka Investment Bank. Is this a new breakthrough?

http://www.warkainvestmentbank.com/visa_card.htm

The Security situation in Iraq and the Middle East has an effect on the Dinar's value, thus the following is relevant to this board.

Saudi Arabia is impressive with its record against terrorism and its will to fight. It is the plan, hope and desire of many that this success will, in time, also be Iraq's. Note that the Saudi government has killed or captured 25 of the 26 leaders of Al-Qaeda the government identified in 2003! In time Iraq will also have as shining a record against their terrorist criminals. Note that, quote, "The bulk of the Saudi clergy, including its conservatives, see them as serious religious "deviants."" Also of interest to investors in Iraqi Dinar is this: " for all of the talk about the often all too real problems in political reform, economic and social reform count just as much. ... reducing the debt, improving infrastructure, revamping health care, improving the educational system and fostering job creation... These are more important underlying issues in today's Saudi Arabia than political reform, and more important underlying causes of terrorism. To judge progress in removing the causes of terrorism one has to follow the economic at least as much as follow the political reforms." Investing in the Dinar is a way of helping defeat terrorism because it removes the causes of terrorism and gives the Iraqi people hope and a bright future.

Saudi Arabia's struggle against terrorism
kingdom appears to be making progress with al-qaeda threat
By Anthony H. Cordesman
Friday, April 15, 2005

The last few weeks have confirmed the fact that Saudi counterterrorism forces are becoming steadily more effective, that many of the leaders of Al-Qaeda in Saudi Arabia have been captured, and that Al-Qaeda in Arabia has not emerged as a major threat to the kingdom's stability. In just the last week, Saudi security forces have killed three major Al-Qaeda leaders - Kareem Altohami al-Mojati, a Moroccan, and Saud Homood Obaid al-Otaibi and Abdel-Rahman Mohammed Yazji, both Saudis. At this point in time, the Saudi government has killed or captured 25 out of the 26 leaders of Al-Qaeda that the government identified after Al-Qaeda launched its major offensive in Saudi Arabia in May 2003.

The threat isn't over. The fact remains, however, that Saudi counterterrorism capabilities are getting steadily better, Saudi intelligence and force effectiveness is increasing, and the number of experienced and capable cadres is thinning. Moreover, the charges by some outside commentators that the royal family is divided and cannot cooperate have been proved wrong in the process. "Jointness" is as imperfect between the Saudi Defense Ministry, Interior Ministry and National Guard as it is between elements of the U.S. government. At the same time, "traditionalists" and "reformers" in the three agencies have all cooperated and developed specialized functions that allow them to support each other, rather than operating as rivals or in isolation.

Saudi Arabia still has much to do in dealing with international cooperation, improving its controls over the flow of money in and out of the kingdom, and working with the other countries' counterterrorism forces, as does every other country in the world. Saudi Arabia, however, did host 60 countries and international organizations in discussing ways to improve international counterterrorism efforts in February's conference.

The report of that conference is the only meaningful survey to date of operations for improving cooperation. It addresses new ways to fight terrorist financing in more depth than any other unclassified document available. Saudi Arabia emphasized the need to join in a global effort to create international terrorism centers as well as the need for reform to fight the causes of terrorism without equivocation. Interestingly enough, the supposed rivals within the Saudi royal family all cooperated in creating that conference. Crown Prince Abdullah and Prince Nayef were the keynote speakers and Foreign Minister Prince Saud al-Faisal chaired it.

Three other elements of the Saudi counterterrorism effort also deserve attention. The first is that the government has handled its efforts in ways that have made it clear it will not use brute force or repression, and that counterterrorism means attacking terrorists. Anyone who visits Saudi Arabia sees many signs of improved security, but also of a gradual, though sometimes faltering, willingness to open up the news media and allow popular debate over public policy. Elections move slowly, and educational reform moves too slowly, but progress is still there.

In contrast, the Al-Qaeda extremists have used violence and extremist rhetoric in ways that have largely alienated the Saudi population as a whole. They find little support among Saudi Arabia's business community and educators. The bulk of the Saudi clergy, including its conservatives, see them as serious religious "deviants." There is no sign of popular protests or serious student support, or of more than the most marginal support within the security forces and military. Every class of Saudi society has some extremists and sympathizers, but the numbers are very few and far between.

The second is that at least for the next few years, Saudi Arabia has had a flood of increased oil revenue that has combined with a major repatriation of capital once held in the U.S. and Europe. The Saudi stock market is booming, and so is real estate. The benefits of these developments are being channeled to eliminate the recruitment pool for extremists, but jobs for young men and women are still a major issue.

Finally, for all of the talk about the often all too real problems in political reform, economic and social reform count just as much. The Saudi government has not wasted its new oil wealth. It has gone into reducing the debt, improving infrastructure, revamping health care, improving the educational system and fostering job creation. These are more important underlying issues in today's Saudi Arabia than political reform, and more important underlying causes of terrorism. To judge progress in removing the causes of terrorism one has to follow the economic at least as much as follow the political reforms.

None of this means that there still is not much to criticize. No nation in the world is making all of the progress it should in dealing with the threat of terrorism. The good news, however, is that Saudi Arabia is making very real progress and in a wide range of areas.

Anthony H. Cordesman is Arleigh A. Burke Chair in Strategy at the Center for Strategic and International Studies in Washington.

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=2&article_id=14280

"Iraq: Report Says Central Bank Raised Dollar Exchange Rate Against Dinar "

World News Connection
Apr 14 2005

The official currency trading at the Iraqi Central Bank has for the first time under gone the process of selling dollars for more than the normally accepted price of the past year and a half.

A responsible official at the Iraqi Central Bank confirmed that the sale mechanism of foreign currencies through the method of auction had continued to present the dollar at its same value against the Iraqi dinar for more than a year and a half. There was some fluctuation last week, which resulted in a decrease in the value of the dinar against the dollar in the local markets. The buying and selling price reached 1,500 dinars to the dollar. Despite that, the bank tried to avert a state of instability in the market and sold more than 150 million dollars at a price less than the market price by 40 points, that is, at 1,460 dinars to the dollar.

More than the usual number of people took part in the trading sessions that were held on Sunday and Monday of this week. They submitted highly competitive bids that led to the sale of dollars at 1,470 dinars to the dollar and 56,171,000 million dollars were traded at this price.

An expert observing market prices has analyzed the reason behind this as being the high demand on the dollar and the increase in imports that required large amounts of hard currency, in addition to the growing activity of government projects, most of which depend on foreign currency. Hence one can expect the continuing decrease in the value of the dinar against the dollar during the next few weeks. However, this decrease will be weak and will stop at a certain ceiling that does not exceed 1,500 dinars to the dollar or just slightly more than this figure.

The expert also confirmed that the national budget balance process is still irregular. There is a very high government expenditure budget as a result of the immense salaries and expenses on security and other matters. In return for this, there is very little revenue coming into the state budget. This revenue does not exceed 10 percent of the volume of expenditure, and that will lead to emptying the state budget of local currency and presenting it on the street for trading, thus only aggravating the state of inflation from which the Iraqi economy is suffering in the first place.

InvestorsIraqForum wrote:
"An expert... has analyzed... one can expect the continuing decrease in the value of the dinar against the dollar during the next few weeks. However, this decrease will be weak and will stop at a certain ceiling that does not exceed 1,500 dinars to the dollar or just slightly more than this figure. The expert also confirmed that the national budget balance process is still irregular."

Irregular blips in the price of the Dinar, due to changing conditions, such as delineated in the article, do not change the stability of the overall investment. Note the ceiling of 1,500 dinars.. from 1490. Ten Dinar spread in price is hardly a "crash" in the value of the Dinar, even if as short a lived one as a few weeks! Now, when there was an invasion and the value plummeted overnite to almost zero.. that would be a dip to be worried about. But we are not talking that kind of economic or megapolitical change here, are we?
Sara.

HI ALL
MENAFN 4-14-05
IRAQ ASKS FOR INTERNATIONAL HELP WITH OILFIELDS.

IRAQ HAS CALLED INTERNATIONAL COMPANIES TO DRILL WELLS IN ITS SOUTH,AND EVALUATE THE STATE OF THE EXPORT TERMINALS THERE,WHICH ACCOUNTS FOR ALL OF IRAQ`S OIL EXPORTS.
THIS WILL MEAN DRILLING 20 NEW WELLS AND OVERHAULING ANOTHER 12.
GOOD LUCK TO ALL RON.

Sam W;

VISAs being offered to the public by the Warka Bank does show that another normal, regular banking process is being instituted in Iraq. That is a positive sign, and one which will help the business retailers in Iraq. It means that if an Iraqi with a Visa wants to buy a larger ticket item, say a dinette set, they can do so over several months. That helps the retailer to get the sale. And, of course, it helps the Iraqi to get the dinette set (or other large ticket item).
So it could be helpful to the economy, couldn't it?

I think it is a postive indicator.

Sara.

Thanks Molly.

Housing prices soaring in Baghdad:
http://story.news.yahoo.com/news?tmpl=story&cid=676&ncid=676&e=12&u=/usatoday/20050415/ts_usatoday/housingpricessoaringinpostsaddambaghdad

As Sara has stated “That helps the retailer to get the sale. And, of course, it helps the Iraqi to get the dinette set (or other large ticket item).
So it could be helpful to the economy, couldn't it?” Food for thought indeed, thank you.

And then earlier “Ten Dinar spread in price is hardly a "crash" in the value of the Dinar, even if as short a lived one as a few weeks! Now, when there was an invasion and the value plummeted overnight to almost zero.. that would be a dip to be worried about. But we are not talking that kind of economic or mega political change here, are we?”

More food for thought. It’s so refreshing to have a level headed, calm and soothing voice to help guide us through this very tumultuous and emotional subject. For when you invest in the Dinar, you’re submitting your vote of confidence that these people, oppressed for so long will finally have a rich life and future. There is no place for dissention here. If you have purchased Dinars you should feel happy and proud you’re doing your small part for the rebuilding of Iraq. For one day we shall all walk in the light of freedom, along with our Iraqi brethren.

Thanks for the news posts too. Our selections of news form the thread with which we can all weave a communal fabric. There’s room for many colors in the tapestry of promise offered by the new Iraqi Dinar investment.

Thanks for setting Gene on the right course here;

"Why DO they have banking conferences, anyways? They should just ask Gene, as he knows what is the plan for all eternity as far as Iraq is concerned. Fact is, Gene says they never want to strengthen the Iraqi Dinar. He knows so much, and he says it will destabilize the entire economy to do so.. We all know he must have an inside line to what is happening we don't have, what do you think?"

An excellent question.

An interesting example of supposed "Global economics".. what degrees do you hold in economics, Gene, by the way?

Good questions again, and ones we all deserve answers to.

One thing I always like to remember is from Ecclesiastes (KJV) Chapter 1:
1:9 The thing that hath been, it is that which shall be; and that
which is done is that which shall be done: and there is no new thing
under the sun.

Thank you Sara. I look forward to more of your writings.

Kateb

One advantage of talking to yourself is you know at least somebody is listening.
~Unknown
----
Thanks, Kateb.. it is nice to know you aren't always just talking to yourself. :)
For the Iraqi people I think this appropriate:

Courage doesn't always roar. Sometimes courage is the little voice at the end of the day that says...I'll try again tomorrow. ~Unknown

I certainly have compassion for a people who, at the end of each day, are saying.. "I'll try again tomorrow." They do so bravely, in the face of such determined opposition, and it does take courage. I also appreciate all those who are helping and equipping them to win. I believe the Iraqis will triumph and Saudi Arabia's success promises good for the region in dealing with terrorism.

Thanks for your kind comments, and your open heart.

Condoleezza Rice, Secretary of State said this to Sean Hannity of Fox News April 14, 2005:

"I have said that the Iraqi people faced terrorism and faced it down, because they said, we are not going to be held fearful. And as a matter of fact, the fact that they voted in large numbers is terrific. And they now have a political process under way. You defeat an insurgency politically, and they now have a political process where people's interests can be accommodated. We're still going to have bad days, like the last 24 hours, because the terrorists and the insurgents are still going to try to derail the process. But every day that Iraq is making progress on its political process is a bad day for terrorism."

http://www.foxnews.com/story/0,2933,153546,00.html

Dinar Heads "Why will the Iraqi Dinar be worth anything"?

Economy of Venezuela

Although a manufacturing sector producing consumer goods exists, the economy is still based on oil. Since 1950s to the beginning of 1980s the Venezuelan economy was the strongest in South America. This continuous growth during that period attracted many immigrants. Since the collapse of the oil price in mid 1980s the economy has mainly contracted. The positive sign of the economy has been a balance of payments surplus due to the strong oil export. Venezuelan officials estimate the economy contracted 7.2% in 1999. A steep downturn in international oil prices during the first half of the year fueled the recession, and spurred the Hugo Chávez administration to abide by OPEC-led production cuts in an effort to raise world oil prices. The petroleum sector dominates the economy, accounting for roughly a third of GDP, around 80% of export earnings, and more than half of government operating revenues. Higher oil prices during the second half 1999 took pressure off the budget and currency. Since the currency controls were lifted in the beginning of 2002 the value of the bolivar has decreased. Despite higher oil prices, the economy remains in the doldrums, possibly due to investor uncertainty over President Chávez's reform agenda.

Iraq is in worse shape !

In 2002, the Venezuelan economy, as measured by Gross domestic product (GDP), contracted by 8.9% compared to 2001. The petroleum sector, which contracted by 12.6% in 2002 as compared to 2001, was adversely affected by a decrease in exports of petroleum products resulting from adherence to an OPEC quota established in 2002 and the virtual cessation of exports as a result of the national work stoppage that began in December 2002. The nonpetroleum sector of the economy contracted by 6.5% compared to 2001. This situation was accompanied by a significant devaluation of the Bolivar during 2002, which resulted in an accelerated inflation rate. The inflation rate, as measured by the CPI, was 31.2% in 2002 compared to 12.3% in 2001.

You are all in a pipe dream!

The Bolivar exchange rate is:

The new exchange control regime fixed the U.S. dollar exchange rate at Bs. 1,596= U.S. $1.00 for purchase operations, and Bs. 1,600=U.S. $1.00 for sale operations, and established the compulsory purchase and sale of foreign currency through the Central Bank.

And one again I ask you why are you going to make money on the Iraqi Dinar. The Central Bank of Iraqi has fixed the Dinar to the dollar!

The Central Bank of Iraq Law was issued March 6, 2004. Among its objectives are achieving and sustaining domestic price stability.

Do you know what domestic means?

Top oil producing countries:

The ten largest oil producing countries in 2002 were: Saudi Arabia, Russia, United States, Iran, China, Mexico, Norway, Venezuela.

Venezuela is the 8th largest exporter!

I hear that the Dinar will flush with no problem at all. Just wipe and watch.

Gee! S Guy!!!

You might be right, and then again you might be wrong. You see, we as dinar investors fiqured that out long ago before you showed up on the board. As a matter of fact, I don't believe we have ever heard of you before on this board.
But anyway, I do hope you feel better now.
How about some pepto Bismol next time ? At least you won't have to type so long, and you'll definitely get more benefit from it.
I really don't think you impressed any dinar investor on the board.
But thanks for your glowing knowledge of the dinar situation.
I am still in awe. Wow!!

More good news from Iraq

Insurgents Seize 60 Hostages in Iraqi Town
(Reuters) - Sunni guerrillas took at least 60 people hostage in an Iraqi town near Baghdad on Friday and threatened to kill them unless Shi'ites left the area, a Shi'ite official quoted residents as saying. The hostage-taking and three successive days of bombings which killed at least 34 people suggested insurgents had regrouped after a lull in violence since Jan. 30 elections. "People from the town called me begging the Iraqi government to save their relatives who are hostages. They told me there are at least 60 hostages," the official, who asked not to be identified, told Reuters in Baghdad

http://story.news.yahoo.com/fc?cid=34&tmpl=fc&in=World&cat=Iraq

The Dinar has been Peg! Great news!!!

Rank Country Billion barrels/ Cross Pair to the USD.
1 Saudi Arabia 265.3 /0.3050
2 Iraq 115 / 1500
3 Kuwait 98.8 /3.68
4 Iran 96.4
5 United Arab Emirates 62.8
6 Russia 54.3
7 Venezuela 47.6 / 0.000350 can you say IRAQ IRAQ IRAQ Dinar!. Or maybe if you wish upon it the value will go up. Nope!
8 China 30.6
9 Libya 30
10 Mexico 26.9
11 Nigeria 24.1
12 United States 22
13 Algeria 12.7
14 Norway 10.1
15 Indonesia 9.7
16 Angola 9
17 Brazil 8.5
18 Oman 5.8
19 Canada 5.6
19 Qatar 5.6

Future value projection for the next 10 years

1 US = 1500 Iraqi Dinar.

Carl

These are the facts, sorry Charlie! by the way what does the Iraqi Dinar and Humans have in common?

It took thousand of years to evolve!

News alert

Iraqi Sun Times
April 15, 2020

"The Dinar gains ground on the World Euro!

Exchange Rate

1 World Euro= 1490 dinar!

As Carl said S. Guy,

Old News!!

I hope you didn't invest too much time and effort in something this site already knew. But then again, some people in life are "a day late and a dollar short". But the good news is someday the people on this web site won't be.

Ed

Ed.

Your right you will all be a day early and about 5,000 USD light!. I could have sold all of you sand for 5,000. It would be nice on the play ground!.

PLEASE PEOPLE EXCEPT REALITY. THE IRAQI DINAR WILL NOT INCREASE IN VALUE. IF FOREX LISTED THE DINAR TOMMORROW, YOU WOULD ALL BE HEADING FOR THE EXIT DOOR. THE MEMBERS HERE WILL PUSH THE PRICE DOWN TO 1 USD = 20,000 IRAQI DINAR!

Dinar Heads "Why will the Iraqi Dinar be worth anything"?

Economy of Venezuela

Although a manufacturing sector producing consumer goods exists, the economy is still based on oil. Since 1950s to the beginning of 1980s the Venezuelan economy was the strongest in South America. This continuous growth during that period attracted many immigrants. Since the collapse of the oil price in mid 1980s the economy has mainly contracted. The positive sign of the economy has been a balance of payments surplus due to the strong oil export. Venezuelan officials estimate the economy contracted 7.2% in 1999. A steep downturn in international oil prices during the first half of the year fueled the recession, and spurred the Hugo Chávez administration to abide by OPEC-led production cuts in an effort to raise world oil prices. The petroleum sector dominates the economy, accounting for roughly a third of GDP, around 80% of export earnings, and more than half of government operating revenues. Higher oil prices during the second half 1999 took pressure off the budget and currency. Since the currency controls were lifted in the beginning of 2002 the value of the bolivar has decreased. Despite higher oil prices, the economy remains in the doldrums, possibly due to investor uncertainty over President Chávez's reform agenda.

Iraq is in worse shape !

In 2002, the Venezuelan economy, as measured by Gross domestic product (GDP), contracted by 8.9% compared to 2001. The petroleum sector, which contracted by 12.6% in 2002 as compared to 2001, was adversely affected by a decrease in exports of petroleum products resulting from adherence to an OPEC quota established in 2002 and the virtual cessation of exports as a result of the national work stoppage that began in December 2002. The nonpetroleum sector of the economy contracted by 6.5% compared to 2001. This situation was accompanied by a significant devaluation of the Bolivar during 2002, which resulted in an accelerated inflation rate. The inflation rate, as measured by the CPI, was 31.2% in 2002 compared to 12.3% in 2001.

You are all in a pipe dream!

The Bolivar exchange rate is:

The new exchange control regime fixed the U.S. dollar exchange rate at Bs. 1,596= U.S. $1.00 for purchase operations, and Bs. 1,600=U.S. $1.00 for sale operations, and established the compulsory purchase and sale of foreign currency through the Central Bank.

And one again I ask you why are you going to make money on the Iraqi Dinar. The Central Bank of Iraqi has fixed the Dinar to the dollar!

The Central Bank of Iraq Law was issued March 6, 2004. Among its objectives are achieving and sustaining domestic price stability.

Do you know what domestic means?

Top oil producing countries:

The ten largest oil producing countries in 2002 were: Saudi Arabia, Russia, United States, Iran, China, Mexico, Norway, Venezuela.

Venezuela is the 8th largest exporter!

I hear that the Dinar will flush with no problem at all. Just wipe and watch.

The Dinar has been Peg! Great news!!!

Rank Country Billion barrels/ Cross Pair to the USD.
1 Saudi Arabia 265.3 /0.3050
2 Iraq 115 / 1500
3 Kuwait 98.8 /3.68
4 Iran 96.4
5 United Arab Emirates 62.8
6 Russia 54.3
7 Venezuela 47.6 / 0.000350 can you say IRAQ IRAQ IRAQ Dinar!. Or maybe if you wish upon it the value will go up. Nope!
8 China 30.6
9 Libya 30
10 Mexico 26.9
11 Nigeria 24.1
12 United States 22
13 Algeria 12.7
14 Norway 10.1
15 Indonesia 9.7
16 Angola 9
17 Brazil 8.5
18 Oman 5.8
19 Canada 5.6
19 Qatar 5.6

Future value projection for the next 10 years

1 US = 1500 Iraqi Dinar.

Sara OR Sara,

Please explain to your loyal followers why I'm wrong!. They need to hear for their all knowing leader!.

S Guy;

Are you an Iraqi Insurgent?

Sara.

No,

Sara I just want your people to understand. It was a dumb investment!. You have no encouraging words for your followers?. Please Sara they need you advise!

PLEASE PEOPLE EXCEPT REALITY. THE IRAQI DINAR WILL NOT INCREASE IN VALUE. IF FOREX LISTED THE DINAR TOMMORROW, YOU WOULD ALL BE HEADING FOR THE EXIT DOOR. THE MEMBERS HERE WILL PUSH THE PRICE DOWN TO 1 USD = 20,000 IRAQI DINAR!

Need some help!

To All: It seems that this S. Guy has his facts right. My limited research shows the following.

Country Net Oil Exports
(million barrels per day)
1) Saudi Arabia 8.38
2) Russia 5.81
3) Norway 3.02
4) Iran 2.48
5) United Arab Emirates 2.29
6) Venezuela 2.23
7) Kuwait 2.00
8) Nigeria 1.93
9) Mexico 1.74
10) Algeria 1.64
11) Libya 1.25

The UAE is the fifth largest exporter. The exchange rate is 0.3040 to 1 USD.

CURRENCY:
The currency of The United Arab Emirates is called the Dirham (pl.Dirhams). Dirham banknotes are issued in the following denominations: 5, 10, 20, 50, 100, 200, 500, and 1000 Dirhams.

VENEZUELA is the 6th largest exporter. The exchange rate is 0.000350 to 1 USD.

CURRENCY:
The Venezuelan currency is called the Bolivar (pl. Bolivares). Bolivar banknotes are issued in the following denominations: 100, 500, 1000, 2000, 5000, 10000, and 20000 Bolivares.

Is Iraqi going to force the dinar to be worthless to the USD?. Why would the currency mirror the 6th largest exporter of oil?.

Please Reply!

This make no sense at all!. Great 3 story house for sale. Great location asking price: 1 Billion Iraqi Dinar!.

By Jim Michaels, USA TODAY

There's no telling how much Saddam Hussein's palaces would be worth had he held on to them.

Residential real estate prices in Iraq's capital have quadrupled in many parts of the city, says Ali al-Difaie, 54, the manager of a government office that processes property deeds. Al-Difaie and real estate agents say the rise is driven by an increase in income since the U.S.-led invasion two years ago and the liberalization of building and property laws.

"A friend from London came to me to complain about the prices," says Haider al-Rubie, 32, a Baghdad real estate agent. "This is crazy."

Statistics are hard to come by, but al-Difaie says an average 3,000-square-foot home in Baghdad's upscale Mansour district sells for $300,000 now. That is four times the Saddam-era prices. Prices are similar in other middle-class neighborhoods around the capital, al-Difaie says.

How can they afford that with the current exchange rate?.

http://story.news.yahoo.com/news?tmpl=story&cid=676&ncid=676&e=12&u=/usatoday/20050415/ts_usatoday/housingpricessoaringinpostsaddambaghdad

S. guy wrote:

>> IF FOREX LISTED THE DINAR TOMMORROW,
>> YOU WOULD ALL BE HEADING FOR THE EXIT DOOR.
>> THE MEMBERS HERE WILL PUSH THE PRICE DOWN
>> TO 1 USD = 20,000 IRAQI DINAR!

Wow. That'd be great! I mean i could buy a boatload of dinar!

:/

S Guy;

I am not God. I have no "followers". I follow, He alone can lead. If your heart does not hear the tune, you must be marching to a different drummer than I am.

So.. S Guy, do you own any Iraqi Dinars?

As I once said before.. it takes eyes to see. Some do see, others do not.

Not all men have eyes to see. To some, it is not given.

Mat 15:14 Let them alone: they be blind leaders of the blind. And if the blind lead the blind, both shall fall into the ditch.

In time, we shall see of whom this speaks.

Sara.

What was that?

blind man once said, better too be blind then see the truth!.

Yes, but he was blind, you see.

One has to be slightly suspicious of persons claiming to see.. who are blind.

Sara.

Gee SGuy or whatever other name you want to post under!
I am so impressed with your master of the keyboard, and how much spare time you have to do nothing but spout why you don't believe in the dinar...
I also see you are on a roll at goating or as we say in the South, attempting to "Stir The Pot"
I usually find people who do things in this manner have a personality flaw.. or as we Southerns say, "They are just a bubble short of a full bottle".
Apparently from your posting you do not believe in the dinar...
Fair enough...you have that right...
and apparently you have not invested in the dinar...or you would be going against your own opinion..
A individual with a normal thought process would very simply say, "I wouldn't be doing what those investors are doing and move on"... but there seems to be a crack in your pot somewhere, that makes you want to goat and gloat on a dinar investor board, then on top of that attempt to talk down to people.
That my friend sits you apart from everybody else. Some refer to your actions as being a "Crackpot" Others just say "Socially Disfunctional".
I find it very interesting that someone by the name of S Guy all of a sudden shows up on the board, who has never posted before that I am aware of.
I honestly don't have a clue, why someone of your obviously inflated intellect would want to spent your time with such un-informed people.
You must have a desire for a crusade or something. You are apparently looking for a purpose in life, you know.... something to give you life value. Personally, I think you are lonely and just need friends.
You can post on this board if you want too.
We may or may not correspond with you, but at least it will make you feel important. If that will help your feelings, then please consider our tolerance of you as our helping hand to you.
I do hope you get to feeling better about yourself so you don't have to be so self inflating in your understanding of just what is going to happen in Iraq.
May the force be with ya "O Be One Ka Nobi"
I spelled the name that way so you could understand it better. Oh! I type this real slow so you could read it real slow and digest its meaning.
No! need to thank me...

Pardon my lack of knowledge here, but haven't we been stuck on 1460 for a long time?

Anybody know what's up with that? Did someone put a freeze on the exchange rate or something?
It doesn't go up or down much, pretty steady at 1460, and it's been there for a long time.

Any answers appreciated.

DEAN:
The dinar has been frozen at that level for quite sometime. That is not bad. That is good.
This gives Iraq enough time to build their economic strength, build their infrastructure and establish more security.

Sportster:
Iraq does not compare with venezuela, and its crazy to even use it as an comparison. The only thing they have in common is oil.
All economic pressures, economic assistance, and location of Iraq is entirely different.
That was a nice try for "whatever his name is" to stir the pot though.
Its called baiting, that is his purpose for his post. Understand this writer is not interested what you say...
He is only interested in stirring the pot...this is where he gets his thrill...he likes the stir.. and to create doubt and turmoil if possible. That is just one of his character flaws.

hey all

carl is absolutely right s. guy is just trying to get everyones goat. and worst of all he's regurgitating nay say drivel from other sources. i've read these same views at other places. needless to say my money is on the iraqi's and president bush who, despite what some may think of his intelligence, knows this area is worth big $$$ the united states has a vested interest in a restored strong iraq. that being said we expect a good return on our investment not just personally but as a country.

S. Guy - Listen up -

I think you're dead wrong about this. I believe we could see an exchange rate of *at Least* 1490-1495 / 1 USD by 2010, (maybe even mid 2009) Don't be such a gloomy glumpster! There have also been rumours that there's a serious shortage coming of bomb producing explosives and equipment, and that the insurgents will have to start blowing themselves up with the traditional vest/belt models rather than these huge car/truck bombs which use about 10 times the amount of explosive. This shows real progress. This is enough reason alone for me to keep buying the NID.

And another news report stated that UBL and Zarquawi are looking to resolve their issues in the political arena and come out in the light of freedom. There's so much to look forward to in this great country.

I know at least 5 businesses that are clamoring to set up shop in Iraq. What a great opportunity. Have faith my friend. The NID wil pay off big some day. I for one just went out and bought 3 new pairs of shoes just for the boxes! Now I have more storage for the Bremmer Dinars. He's a saint - his face should have been on these bills. God bless the NID!

So, S. Guy - the next time you feel like bashing the NID investment, take a good look in the mirror and ask yourself "should i open a bank account in Iraq? if you seach your heart, you'll come to the conclusion that it's the only way to taekfull advantage of this ONCE IN A LIFETIME OPPORTUNITY.

My bet 1500 / 1UDS by 2010 if not earlier. Good luck to all. We're all winners here!

Dewey:
According to red you should clarify that as a SWAG.
But then again we all have those, and yours have just as value as mind.

Dewey,

You said your bet is 1500 / 1 USD by 2010 - If i understand it correctly, isn't that a devaluation of the dinar cause right now it is 1460 to the dollar. Besides that not even much of a change - its just a change of 40 dinars after 5 years. Is that what you are expecting?

Dean:
Suggestion:
Go and start reading past post. You will find a lot of information on why the dinar is presently at 1460 and has not moved.
It is to the advantage of the investor to have the dinar as it is for now, and yes the government of Irag ie; central bank, has kept it that way for a reason. It was not to bilk any investor,or a shaddy scam to fleece as inferred by some writers. It was simply to stablize their currency for the market, while they rebuild.
They will continue to do that for a little while longer.
Many economic factors are at play, and have to come together before the dinar value starts to move.
Irag's reconstruction was never stalled, it was only slowed down for a little bit due to the increase in violence.
Just because the insurgency has been knocked to the ground a few times, doesn't mean they are out of the fight.
Its going to continue with each side getting in their body blows. The iraqi government is just giving more than they are taking at this time.
For every negative article, we can find 20 that is postive.
Give you an example, there are 94,100 articles that refer to the gulf corporation council currency, just on google.This does not include the other search engines.
If you have any questions, please refer them to red, he is the authority on what has been written on this subject, cause apparently he has read them all, and can tell you in detail with certainity about each one.

Amber
The writer using the post for now, as "dewey" is being sarcastic.
If it will make you feel better I will give you an opinion that the dinar will increase in value to $3.00 per dinar by July of 2005.
Now the chance of that happening has just as much value as dewey's prediction.
I really don't think dewey's or my just written opinion have any facts to justify the statements just written.
Just because they are someones opinions doesn't make it so, and that includes any of my swags or opinions.

Carlwrote=Give you an example, there are 94,100 articles that refer to the gulf corporation council currency, just on google.This does not include the other search engines.

I Think I can help you out
WHen you search for articles,try the news category
when you enter : GCC countries common currency
it returns 20 results (or Gulf cooperation council currency) 34 results
It is a waste of time to search the web category
for news

cheers
Gene

My friend, an ex-Marine Aviator, wanted to show off his new twin-engine plane which is equipped with a special shoebox compartment for Dinars. I was riding along as he put it through its paces. Suddenly, we were caught in a violent thunderstorm, with lightning crashing all around us. Next, we lost the radio and most of the instruments.

As we were being tossed around in the sky, Carl said, "Uh-oh!"

Fearing the worst, I asked, "What's wrong now?"

Carl replied, "I got the hiccups. Do something to scare me."

Dinar value=stable government
stable government in Iraq???

Hey everybody,

As ususal, it looks like the dinar gang is on top of things with great postings.

Carl: I wanted to add to your great post about "S-Guy". He is what you might call
"a sandwich shy of a picnic". I REALLY loved
S Guy's "ten year projection" on the Iraqi dinar. He is a true knower of all.

Isn't is strange how a bunch of these blow hards like "Dewey" and "S Guy", "Kazoo", and "Gene showed up with their bluster? They all showed up just around the time when "Red" or whoever he is, came back on the board. Am I seeing a pattern here, "Red"? Just read the previous postings of "Red" on the other thread and you all will see that he knows no more than the rest of us - probably a lot less.

Mr. "S Guy" or whatever name you choose to use the next post: The only person that you can get to agree with you is "Dewey", who is one of those RARE self-professing "idiots". I quoted "Dewey" on the "idiots" statement. You must feel good with having someone with an intelligence quotience of less than 25 to agree with you. I would call you and "Dewey"
"two peas in a pod". Wouldn't you, Red? I am sure that you can find some one to agree with you on your posts. Just invent another name, and post away!

Red or whoever you are: "s GUY", and now we have "news GUY" on the board. Looks and sounds like a pattern to me!
Wouldn't you agree?

I just wanted to add that "Gene" has magically appeared again. It just goes to reinforce my last post. Wouldn't you agree "Red"? Gene has about as much knowledge of world economics (read his last post) as a second-grader, who is failing the second grade. Give us some more Global economics, Gene.

Any other thoughts on the previous post?

Need some help!

To All: It seems that this S. Guy has his facts right. My limited research shows the following.

Country Net Oil Exports
(million barrels per day)
1) Saudi Arabia 8.38
2) Russia 5.81
3) Norway 3.02
4) Iran 2.48
5) United Arab Emirates 2.29
6) Venezuela 2.23
7) Kuwait 2.00
8) Nigeria 1.93
9) Mexico 1.74
10) Algeria 1.64
11) Libya 1.25

The UAE is the fifth largest exporter. The exchange rate is 0.3040 to 1 USD.

CURRENCY:
The currency of The United Arab Emirates is called the Dirham (pl.Dirhams). Dirham banknotes are issued in the following denominations: 5, 10, 20, 50, 100, 200, 500, and 1000 Dirhams.

VENEZUELA is the 6th largest exporter. The exchange rate is 0.000350 to 1 USD.

CURRENCY:
The Venezuelan currency is called the Bolivar (pl. Bolivares). Bolivar banknotes are issued in the following denominations: 100, 500, 1000, 2000, 5000, 10000, and 20000 Bolivares.

Is Iraqi going to force the dinar to be worthless to the USD?. Why would the currency mirror the 6th largest exporter of oil?.

Please Reply!

Al Yahud;

About a stable Iraqi government..

Saudi Arabia.. terrorism.. they have killed or taken into custody 25 of the 26 terrorists they set out to get. Saudi Arabia.. stable government? Yes. Think Iraq can be, too?
I think so, given time and due diligence.

A little from the faith perspective to bolster this:

Rom 13:1 Let every soul be subject to the higher powers. For there is no power but of God: the powers that be are ordained of God.

Rom 13:2 Therefore whoever resists the power resists the ordinance of God, and those who resist will bring judgment on themselves.

For those with a religious mindset (and the entire Middle East is encompassed in religious viewpoints) there is no governmental power, but of God.. whoever resists that power, resists God. The terrorists are resisting this legitimate, majority voted government. I think Iraq has all the help they will need for the long haul to have a stable government. All that is needed, is time.. just as Saudi Arabia's ruler stated:

"Terrorists are enemies of Islam, humanity and mankind. We will wage war against them for 10, 20, 30 years if necessary, whether they are Muslims or not," he said.
http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=2&article_id=14278

I like all that the powers that be are saying, the legitimate powers... not the guys hiding in foxholes and sneaking around in the dark, planting bombs and planning murderous attacks. I put my money on the good guys winning.. those with the constituted and proper authority, those who want peace, order, freedom and good government. They will win.. eventually. WW2 took a while to win. Hitler was not easy to defeat, and he had his mass graves and loyal SS men, too.

Did you ever hear the saying, "Crime doesn't pay?", well, from the faith perspective, note the judgement reference (above).. that is from the eternal perspective.. they just don't and WON'T win... ever.

Sara.

Sporter,

They are many variables involved in currency investing. There may be some individuals who took the "oil" bait. This is only one variable.

Comparing Venenzuela and Iraq is comparing apples to oranges. Iraq seems to be more importantly as a world-player right now. If this were not the case, our troops would not be there. People can say what they want about the President, but like a poster above just mentioned, there are alot more reasons we are in Iraq then the "war on terror." What? I don't know. I do not claim to be a geo-political genious. I'll leave that to others on the board, but I know there were many factors BESIDES oil that convinced me to invest in the Dinar.

Truth be told, the Dinar may do exactly what Dewey and S-Schmuck (errrr...guy) say it will. So what. I didn't invest because I felt this was a "sure thing." I invested because the potential gain far outweighed the potential risk.

Just my .02

Have a nice day all!

Dave A

P.S you never did acknowledge that you called me out for no reason (April 11, 2005 09:23 PM)

I'll forgive you this time, but don't let it happen again. :)

Dave A.

Please forgive me. Must have been having a bad day. Please continue on this forum.

Sincerely,

Sporter4551

Sporter,

No problem. I was just giving you a little harmless crap. I hope you noticed my smile.

God Bless,

Dave A

Sporter;

You asked: "Is Iraqi going to force the dinar to be worthless to the USD?. Why would the currency mirror the 6th largest exporter of oil?."

Basically, you are saying that.. apples and pears are the same thing (or apples and oranges, as Dave A posted). That the Dinar will be worth the same value as the Bolivar. You are saying that Venezuela is the same as Iraq. Let me cite why that is untrue.

A few facts. First, Iraq is supported by the current world superpower, the United States, and they have pegged the currency to the dollar. Also behind Iraq is Europe (in spite of their originally not being too keen on taking Saddam out of power). The Gulf countries are also into helping put the country together again.. so they have a lot of good external support.

Unlike the other countries you cited, Iraq will be debt free in 2008. Eighty percent (80%) of their debt is forgiven and the rest will be paid by then. It is expected that then they will join the Arab League of Nations.

Iraq does not have a great deal of need, as the other countries you cited do, because their population is only 25 million. It doesn't take a lot of money or government to manage that many people. They are also surrounded by wealthy countries, not poverty stricken ones.

Iraq is the second largest oil producer in the Middle East. I can also see no reason to prevent them from joining the GCC (Gulf Common Currency) once that is in place.

No other countries you cited have all these things going for them.

Apples are NOT pears.. Iraq is not Venezuela.

Sara.

HI ALL
WELL IT LOOKS LIKE WE HAVE ANOTHER ALMIGHTY ONE TO DEAL WITH AGAIN.YOU KNOW,IF THESE PEOPLE ,WOULD SPEND MORE TIME LOOKING AT THE POSITIVE,THEM AND ALL AROUND THEM WOULD HAVE A BETTER LIFE.I AM SO HAPPY THAT I DON`T HAVE TO TRY AND MAKE SOMEONE`S LIFE MISERABLE,SO THAT I MIGHT HAVE A GOO DAY.LIFE IS SHORT WHY CAN`T THE HECKLERS SEE THIS,OR IS IT THEY DON`T WANT TO.
GOOD LUCK TO ALL RON

Sara,

Thanks for bringing up the important points. After reading S.Guy last night I started TO QUESTION my investment. Good luck to all and do not give up the faith!.

Regards,

You're welcome, Sporter..

I'm not sure that is all the points, but it is some of them, for sure. :)
Glad it helped.

Sara.

Sara and Dave,

You and Dave hit the economic nail on the head. That is what I was talking about with "Gene" or "S. Guy". They are basically CLUELESS when it comes to their knowledge of currency trading or any other Global economic facts .
The poster who is using these posting names is using other ones here as well. Anyone that tells you that you can compare Iraq to Venezuela or any other company is showing their lack of currency trading and BASIC macroeconomic policies relative to each respective country being used as a comparison.

Sporter: The reason that I didn't respond earlier is because I was considering the economic facts of IRAQ, not Venezuela. This guy who is posting all this nonsense is TRYING TO DIVERT YOUR ATTENTION, and he is not using logic or economic currency trading FACTS. He gives you one country out of the group to try to prove his point. And, you cannot compare a country's currency like that. In fact, comparing currency between countries is truly like comparing apples and oranges or apples and pears.

If you want to use this twisted logic that this S guy is posting, carry it a step further. Why don't you use the value of currency for Kuwait. It is on the list too. It's value is 3+ times the value of the U. S. dollar. Why not Saudia Arabia?
Or why not Mexico? It's peso is worth basically 9 cents to the U. S. dollar. That is worth sustantially more than the Iraqi dinar relative to it's value to the U. S. dollar. And, people are leaving in droves to sneak into the U. S. Why not Russia? See what I mean?

That is the reason that I called it TWISTED logic, because Red (errr...S. Guy)is trying to twist totally unrelated facts to hide his lack of knowledge of economics relative to determining a country's currency value. The truth is that you CANNOT compare currencies like that. Unless, you want to try to create confusion with a lie- just like S. Guy thought that he might get by with. Am I clear? I have got to go mow the yard right now, but I will return in a couple of hours. GO DINAR!

Never go aganist self intuition, self reasoning, and a true gut feeling.. Beleive in the investment we have all made!!!!!!!!

Robert-
No I am not 'Red' or S.Guy :)
But please enlighten me as to the the economics
behind the difference in exchange rates between
countries
say as Japan, Indonesia, S.Korea?
All have relatively 'cheap' money ,with Huge GDP's
Why so?

---

Japan 3.5 trillion GDP $28'000 GDP per cap

1US Dollar = 104.510 Japanese Yen
1 Japanese Yen (JPY) = 0.009568 US Dollar (USD)

Indonesia $758 billion GDP $3'200 GDP per cap 64-41 exp/imp ratio
1 US Dollar = 9,361.80 Indonesian Rupiah
1 Indonesian Rupiah (IDR) = 0.0001068 US Dollar (USD)

S.Korea- $857.8 billion GDP - $17,800 purchasing power parity(GDP) exp/imp ratio(bil) 202-176

1 US Dollar = 1,005.30 South-Korean Won
1 South-Korean Won (KRW) = 0.0009947 US Dollar (USD)

waiting for your wealth of economic knowledge
:)

Gene

EU could host Iraq conference in June

http://www.eubusiness.com/afp/050416141350.yju8bepk

The European Union is planning to host an international conference on Iraq in Brussels at the start of June. This could give the new Iraqi government the opportunity to present its priorities to the wider international community.
The European Union was deeply divided by the US-led war on Iraq in 2003, between an anti-war group led by France and Germany and a bloc headed by Britain backing Washington's campaign to topple Saddam Hussein.

Ferrero-Waldner added that the meeting could bring together all countries and organizations actively supporting Iraq including donors and, "very importantly," the country's neighbours.
"This would be an important signal of our common commitment for stability and prosperity and security.

Iraqi Oil Exports May Rise to 2m bpd

BAGHDAD, 17 April 2005 — Iraqi oil exports could increase to 2 million barrels per day by the end of September from current levels of 1.5 million if security in the country improves, the head of state oil marketer SOMO said on Friday.

“With improved security and investment, we can reach exports of 2 million barrels per day by the end of the third quarter,” Dhiaa Al-Bakkaa, director general of SOMO, told Reuters. “We’ve got an allocation of $3 billion for upstream and downstream investment and with the formation of the new government, that money should start to be released. “That would have an immediate positive impact on output, which by the end of the third quarter could increase to 2.8 million-3.0 million barrels per day.”

April output is running at an average of 2.3 and 2.4 million barrels per day, he said, of which 1.5-1.55 million was being exported.

Iraq is in the process of forming a new government in the wake of elections held at the end of January, with the shape expected to be finalized in the coming days.

Once the make-up of the government is known, including the crucial Oil Ministry appointment, coveted by several competing factions, investment should begin to flow almost immediately.

The potential is there for an immediate increase in output because the investment is not in the development of new fields or wells, we just need some investment in water injection and other things,” Bakkaa said.

A new security force is being put in place to protect the northern export line that flows to Turkey’s port of Ceyhan, an essential link in Iraq’s oil-dependent economy.

The line has been out of commission for months due to sabotage, including repeated bomb attacks in December.

The potential is there to resume exports through the northern pipeline to Turkey, but the issue is security,” Bakkaa said. A force is being set up to guard the pipeline and with the formation of the new government that should take effect

http://www.arabnews.com/?page=6§ion=0&article=62277&d=17&m=4&y=2005

Michael;

Super article! Yes, the conference is "an important signal of our common commitment for stability and prosperity and security" for Iraq from the EU and neighboring countries. Again, an indicator of success I don't see happening with Venezuela.

Good post on oil production improving, too.

Sara

Robert;

As for Gene's post to you, Robert.. are you sure that going into a long explanation about "the economics behind the difference in exchange rates between countries say as Japan, Indonesia, S.Korea"... is NECESSARY? Is such an explanation really relevant to the Dinar board? What bearing does this have for us as investors? We have already said that the uniqueness of the country Iraq is important to understand.. why are we seeking to compare more apples and oranges? Could you enlighten me as to why we need to endure a long explanation about other economies and what causes their currencies to move up or down in their exchange rates? I am sure Gene can find references for those other economies if he wishes to, and I for one would prefer to stick to the Dinar for the Dinar board, if possible.
Respectfully,

Sara.

gene:
I just read your advice on how to do research on search engines and at how many articles I could find regarding the GCC currency if I did it your way.
I am sure you are confident of your method, and I do not wish to discourage you.
I really appreciate the advise, but I believe I have found just a few more articles that 20 and 34 to do with the GCC, and what they intend to do with their currency.
But thinks anyway.

Gene:
I guess I'm puzzled why you want to discuss the currencies of Japan,South Korea and indonesia.
I tell you what, why don't you explain to us the following in detail:
1. WHY do you think it is important to know about why those countries have certain currency rates in relation to their GDP's.
2. Then tell us in detail how that relates to Iraq.
3.Then explain to us, simple minded folk, how Japan, S Korea, and Indonesia are affected by the same external, internal economic and governmental pressures, that are now affecting Iraq.
4.Apparently, You feel Iraq has the same pressures of those countries, in order to compare Iraq with their currency rates or you would not be asking the question right?
Since Irag is not in the IMF, does not yet have a completely established government, still is at war, and is not even listed on the forex currency exchange to be freely traded,and presently still occupied by foreign forces....Jean, this your chance to razzle dazzle us with your knowledge on international economics.
We waiting on the above answers as to why you are asking such questions.
You may have a point on your question, but I believe you need to convince us the question has merit before we spend sometime on research that at its face value appears trivial, and as we say in the South "a snipe hunt with a potato sack"..

I was wondering, how does your family , friends and co workers respond to your interest in dinars.

I, myself , am a truck driver who have yet to come into contact with anyone who doesn't think I'm insane and have lost my mind, regardless of all the common sense things I've tried to pass on.

This really surprizes me. I really thought a lot of my friends would take off with me on this, but instead they think I've lost my mind.

Just wondering what kind of experiences other dinar people are having.

carl-
Perhaps Gene's post is hinting at exchange rates
or
why does everyone think,or assume that an increase in Iraq's wealth or economy(GDP) will be equal to an increase in the exchange rate??

When you have countries such as Japan,S.Korea, and Indonesia with huge GDP's and the exchange rate and currency is weaker than the USD.
A common myth is that if a currency is worth less than $1, it's weaker than the U.S. dollar, and if it's worth more, then it's stronger
There is no necessary relationship between the exchange rate of a foreign currency relative to the U.S. dollar and the strength of the issuing country's economy or its wealth. Consider a few examples. Some of the strongest currencies other than the U.S. dollar (that is, ones preferred by investors, because their value is stable) are the British pound (at 0.52 per dollar), the Japanese yen (at 107 per dollar), the Swiss franc (at 1.40 per dollar), and the European euro (at 0.77 per dollar). The yen is a particularly striking case. Although the Japanese have had their problems in recent years, they still have one of the largest economies in the world and are wealthy by any standard. Yet one yen is worth less than a penny.
Jordan and Latvia come to mind in reverse(weak economies with exchange rates and currency more than 1 USD)1 US Dollar = 0.54190 Latvian Lats
1 Latvian Lats (LVL) = 1.84536 US Dollar (USD)
1US Dollar = 0.71010 Jordanian Dinar
1 Jordanian Dinar (JOD) = 1.40825 US Dollar (USD)

I have often wondered this and would love to hear
others opinions on this?

Hello all,
I have been reading your post for some time now and i think its great that you guys make each other feel good about the decision everyone has made.Ok now with that said,is it better for me to keep the currency or deposit it into a Iraqi bank?

Angel

Tommy:
I am not an economist, I, myself have trouble understanding and filling out my tax forms, so I'm afraid I cannot be of help on that question.
I do know that each country have their own governmental pressures,external and internal problems when it comes to national production. What the formula is or how to interpret the formula is beyond me.
That is why, I ask Gene. Apparently he knows something about international economics, and how they act, because he thinks those same influences or formulas for other non middle eastern countries can be use for Iraq.
I just want to know what those common influences are.
I may be wrong, and he is like me, with having no clue.

Hey Carl and Tommy and all,

I sure wish I had been on the board last night. I checked the board at about 6:00 p.m., but no one else had posted. Our daughter had her prom last night, and we all went out to eat late. I was checking this morning expecting not to see much. But, was I wrong?

Well, it looks like ole "Gene" has thrown down the gauntlet. I DO have the answer to his question, and I have the answer for you as well, Tommy. It will take a long post, but I am eating my breakfast as I type. I hope you all don't mind if I eat my breakfast first. I just had to type this to let you all know that I will be giving you all the answers to ole "Gene's" dare. But, I will start posting in about 1 hour. This is going to be a long post. It is a simple answer, in a way. But, there are a lot of economic principles involved. But, don't you all worry. I will post the answers. It just may take a couple hours from now before you all get it, or longer, because it is going to be long. And, I want to make an easy format for everyone to understand. I could just give the answer, but I want to post as much related economic principles as I can. Please under stand that I will not be referencing any websites. I don't have time to check for any. But, I will be stating basic economic principles with my answer. And, I invite everyone to check my post. There are some facts in my posts that will be economic principles relative to currency investment. So, it won't be a waste of bandwidth.
Just bear with me until I get it posted. I hope you all don't mind it if I post. I will enjoy giving the answers. Normally, I wouldn't spend the time to make my next post, but I look forward to putting it on the board.

I just wanted to say that I been popping in for several weeks and I enjoy this forum so much and thank you for making this a part of my daily ritual

Angel:
It depends on where you live.
If I lived state side, simply put it in a safety deposit box.
If in Iraq, naturally in their safety deposit box.

robert or others
your thoughts?

"Iraq's government has fairly strong incentives to keep the currency stable @ 1460 -- it is one of the few signs of political and economic stability the government can point to."

"It also has some incentive to resist letting the Iraqi dinar rise in value real terms. A stronger currency makes imports cheaper and any Iraqi production (exports) is relatively more expensive. Not exactly the best way to solve Iraq's unemployment problem. The Iraqi government, one presumes, does not want Iraqi wheat production, for example, to be uncompetitive with imported wheat."

from a report from an economist
----

Tommy:
Presently the only reason Iraq is even importing wheat from the USA and Australia, is their bakers will not use the wheat they are presently growing. it is considered inferior. The Agriculture dept of Irag is now developing better wheat seeds. Once this is done, they will start producing wheat that is marketable.
It will be used internally and then any excess exported to the other surrounding countries.
Flash!
Even the hardcore of all liberals are now starting to shudder and say, it looks like, George bush has it right.

Carl
Take 'wheat' as an example only, a stronger currency would make all exports more expensive
It would seem the Government has an incentive to
keep export prices down as with the stable rate
of 1460?
i.e.;
exchange rate of 1460 :imports more expensive-exports less expensive(cheaper)

exchange rate of .05 :imports less expensive -exports more expensive

Tommy;

I don't think the government of Iraq wishes to continue forever economically disadvantaged in relation to its trading partners, just in order to have cheap exports. There are other problems with cheap exports, too. The Iraqis have had shortages of oil and gas because the black market can get a lot more for it selling it out of Iraq than to Iraqis. The people are putting pressure on the government to make their economy on par with those it trades with. Yes, exports will be a bit more expensive, but they don't want long waits for gas at the pump because no one finds it worth it to let Iraqis have their own oil and gas! This will have to be addressed.

Sara.

Sorry for the double post!
Here is an older article still available on the net which touches on the black market problem. This article touches on that which was done domestically but also mentions those INSIDE selling to the black market. There were other articles which talked of the lucrative black market taking fuel out of Iraq to sell to the foreign market because it was cheaper. A stronger currency will help allieviate this problem for the people of Iraq, so the government has pressures toward strengthening the currency, too.
Short version of it (related info) below:

Iraqi officials tackle black market in fuel
By Peter Spiegel

08-12-03 In interviews with almost a dozen drivers waiting in line at al-Horreya, almost all blame black marketers, from the station owners that sell at elevated prices to children with jerry cans, to taxi drivers who fill up their cabs at regulated prices but then siphon it out to sell at handsome profits.
"It's better than driving a taxi," admitted one hack selling his wares down the street. "The streets are too crowded and you make less money." For some, however, there is no choice but to grin and bear it. "Even inside the station they're selling it to the black market for 150 dinars per litre," shrugs Haydar Adnan, another driver of one of Baghdad's ubiquitous orange and white taxis. "We'll endure anything because Saddam is not around."

Source: The Financial Times
http://www.gasandoil.com/goc/news/ntm40249.htm

I'm not sure that was the answer Angel was looking for since she said "deposit" in an Iraqi bank.

Like, for instance, if one wanted to use dinar to play the ISX?

And an Iraqi bank account /is/ one way to exchange, even if the exchange isn't profitable because of the fees. I mean if you have an Iraqi bank account it doesnt matter if dinar is open on foreign exchange. If you ever want dollars back for some reason you just make a withdrawal?

I'm not answering the question, i'm rephrasing what i think the question was.

Tom:
One of the reasons the GCC is going to a Union Currency is because of the cost of transactions using different exchange rates.
This is also weakness in international trade due to the different currency values.
This another reason why they are going to a union currency.
The iraq dinar, I feel will be tied to the GCC currency, whatever that value will be. Due to the present value of the GCC currency rates, we dinar investors have a hedged bet, that the iragi dinar will increase in value.
Lets hope our intuition is correct.

Hey all,

Just a little while longer, and my long post will be on. Sorry it is taking so long. Just a lot of info to put in the post.

JB:
You are probably right. I didn't understand the question.

Hello there,

I got good news, you will see dinar will go up in value within two months.

Hey all,

MY other post is 3 full pages long. I think that I will just go ahead and answer Gene's questions without posting such a long post. You all would have been here all day reading it. And, it will eat up the band width a lot.
Gene chose to leave off one of the main parts of his post. It is basically simple.
The reason the currencies are in such bad shape is because of each country's debt, and high debt to GDP (Gross domestic product). See, the GDP has four variables that need to be satisfied to ensure that the GDP will rise, that being
1. increased personal consumption,
2. increased business investment,
3. increased government spending
4. and net exports (trade surpluses).
There is a formula you can use but I won't post it for space reasons.
A country has three options available to it concerning spending money.
a. It can borrow more money through bonds and other certificates
b. It can raise taxes.
c. It can print more money. Basically, these countries would borrow the money, through bonds and use that money on government controlled job projects. They also paid for government services with it. All of this borrowed money would satisfy all the above requirments listed in the last paragraph to shoot up the GDP. They simply propped up the GDP with borrowed money, and they are still doing it. PPP also increased because of increased jobs/money. So, all three of these countries are living on a Ponzi-type scheme to keep putting off their debt, and keep borrowing more. Because of current stagnation in their economy these three countries keep increasing their debt to GDP each time they borrow more money.

In 1996, the U. S. Government took a slide and took all these countries with it.
They were in bad shape after this, but went right back again borrowing money to prop up their economy. They are doing it to this day. The reason that their currencies are so cheap is because they have borrowed so much against it. But, they are still borrowing to keep the GDP propped up artificially (with borrowed money).

Tommy: You are correct. Japan does have a large trade surplus with the the U. S. The only problem with that is because when Japan hit the skids, back in the 90's, it had invested most of it's trade surplus in U. S. bonds and t-bills. So, all it had was a bunch of I.O.U's from Uncle Sam. It was left with a stagnant economy and a bunch of I.O.U.'s from Uncle Sam. And, it still does. But if you can believe it, Uncle Sam has a top credit rating with the recognized Credit Agencies (Moody's and Standard and Poor's & others). Japan's credit rating is much less. Although it is still in the same major class of bonds rating as the U.S. It just has to pay more interest relative to the U. S. position on the board when it sells bonds. So sorry I couldn't post the entire thing, but if anyone wants it, give me an e-mail. I will save it.

Hello to you all, I would like to know how to exchange my 25000 notes to 10,000 or 5,000 NID if anyone has the answer please post it on the forum. Also i would like to have the full post from Robert good luck to everyone.

Iraqi Stock Exchange

Does anyone have information on when the ISX will open to foreign investors. Also, will their be futures contract that would allow the investor to buy the entire index i.e. S&P500, Dow ect.?

Regards,

Iraqi Stock Exchange

Does anyone have information on when the ISX will open to foreign investors. Also, will their be futures contract that would allow the investor to buy the entire index i.e. S&P500, Dow ect.?

Regards,

sporter,

I actually e-mailed them a couple of times, and they finally e-mailed me back from the ISX homepage. They stated that they were working to get it open to foreign investment as soon as possible. This was about a month ago. Since they did e-mail me back, I guess that they might have me on the list. If I get any e-mails about it in the future, I will e-mail you back. They also said to check the homepage, because that is where we would be notified. It definitely seemed like they were trying to get it open fast. As far as the S&P, Dow, etc., Sorry, but I couldn't help you on that one bud.

sporter,

That was me who posted with your name. My bad, my brain is not keeping up with my fingers these days. Robert

Robert,

I emailed the exchange today. If they respond I will pass it along. Please pray for all who are fighting. I was touch this evening in a moment of grief after reading about young soliders who have died for this mess we have gotten ourselves into. I not sure what the U.S. ultimate plans are, now that we know it was not WMD. I hope we all can find in our hearts to give back to the men and women of this Counrty who have fought 'as it seems right now' for oil rights.

God Bless,

Sporter,

I totally agree. It looks like that they are starting to turn the corner in getting the country in somewhat control. Here's hoping like you that our brave men and women over there will be safe, careful and know that we care for them.

Sporter, what do you think of this al Warka Bank? I was wanting to get someone else's opinion on the bank. Is it even legal for us to open an account over there right now? I was cruising' through InvestorIraq, and there was some of the regulars who were complaining that they weren't getting much in a response from the bank. And, from the looks of a couple of the posts, they had some SERIOUS money in that bank, or whereever it is. Some of them had said that hadn't gotten anything, but a couple e-mails after they opened their account. I would be kinda' worried. I hope they get their Iraqi dinar back if the bank folds. I would appreciate it if you would send your opinion. Thanks, Robert

Although I have held a Warka account since September. The response time then was very fast , BUT as the word spread of how easy it was to open an account, The customer response time has dwindled to a very thin response , sometimes you have to send mutiple emails to get a response. I am one of those with seriouse money at Warka and I dont regret it. They have never given me any reason to doubt their legitmacy. I use this account as a hedge as to hold physical dinars, plus they offer a very enticing annual interest of 6%

Robert,

I cannot comment on any bank in Iraqi. I like too know that I control my dinar here in the States. I have mine under lock and key in a safe deposit box. This way I can visit anytime I choose. LoL, as far as hedge protection is concern, I don't worry about such a thing. Besides we ( U.S. ) makes the NID!.

Regards,

Just my two cents worth on the WMD.

IF we were to tell the Columbian cartels that, in about 2 weeks, we would come down there, in force, and bust them all and take all the drugs they had.. when the Armed forces (cops) of the USA turned up, TWO WEEKS later, how many of you expect that we would find an ounce of any kind of illegal drug in the entire country?

You know, we gave Iraq a heck of a lot of notice before we went in, and IF they had WMD, just like the Columbian drug lords, don't you just think that MAYBE they might have worked on hiding it? After all, they had to get going to war approved by Congress, and vote on it.. what do you think Saddam DID all that time.. twiddle his thumbs and play checkers?

Where is my thinking wrong on this people? No evidence can be found they ever had any WMD.. excuse me? Would you expect to find ANY drugs in Columbia if you gave the drug cartels that much warning?

You can fool some of the people some of the time..

Sporter, Rob.. I don't think it was for oil. I think the intelligence reports were right.

And if they were.. then we owe a lot more to those men and women in uniform than people today would think.

Sara.

Hey Jerseyboy,

I appreciate your post. I meant no bad intent on my post earlier. I was concerned for you all. It is evident that I was ignorant of the subject, and I appreciate your correcting me, and posting with good info.

Hey Sara,

The board is awful quiet tonight. I must say that I don't miss all those negative posters that were on here the other day.

You had a good day. Good posts! I was really trying to get the post on this morning, but I just didn't have time after I found about it this morning. But, I didn't post the long one, because it would have taken up this thread and the next one too. Well, anyway you all have a great evening, and I will see you all in the morning. God bless - Robert

I presume that this story has been proven wrong to your satisfaction, and that this fellow who swore it was true.. is now singing a different tune.

Iraqi Colonel: WMD Could've Been Launched in 45 Minutes

Sunday, December 07, 2003
Saddam Hussein had weapons of mass destruction and his army was capable of firing them off in less than 45 minutes, according to an Iraqi colonel's statements in the London Telegraph.

According to Lt. Col. al-Dabbagh, cases of WMD warheads were shipped under cover of darkness to front-line units, including his own, near the end 2002, the Telegraph reported Sunday.

In September of 2002 the British government published a controversial intelligence report on Iraq's weapons of mass destruction, claiming WMD could be launched within 45 minutes. Al-Dabbagh said he believed he was the source of the claim, which was widely criticized as being a ploy by British Prime Minister Tony Blair to gain support for military action in Iraq.

"I am the one responsible for providing this information," al-Dabbagh, 40, told the Telegraph when shown the dossier. "It is 100 percent accurate."

"Forget 45 minutes, we could have fired these within half-an-hour," he was quoted as saying.

http://www.foxnews.com/story/0,2933,105086,00.html

Hello all, I would like to thank everyone for all the info and the reserch being done. It has been along time since i bought my first NID. I was in Kuwait working for KBR. I was an HR driver in Dec 03. I picked up a employee Who had just came from up north.I took him to Safir airport hotel.He showed me a million NID and said you need to buy all you can. He gave me a quick lesson on what was the deal with the NID. He said he worked in P.Bremmers office in Iraq.So i went to the airport in Kuwait and got me a million. A few months later rumors were flying. So thanks to all of you for your reseach. GOOD LUCK TO US ALL!!!

Yahoo….I just received an e-mail from Mrs.FARAH, Al Warka Bank. I want to explain that I may have been the source of some wrong information about the bank and mailings.

I started with accounts requests in the first week of March. I must have sent it off three times when last week I discovered that what I was sending was not opening because I had a software problem. The viewer Word was using had become inoperable and until I mailed to other persons and learned that what they were opening to was machine language. I had no clue what was going on until then.

After this discovery I updated the programs and everything seemed to work fine. I did a few tests and sent the document of once more. I sent it on Fri 15th and 12:45 am MST. I received the return now just two days later. And get this, at the top on the document it has From:, Sent:, To:, The Sent : line indicates “Sunday, April 17, 2005 10:52 PM” I would say that’s very good response time and what bank here in America do you know of that would put in the a second shift to get caught up, if they were behind. I appreciate the good work they are doing and I have very strong confidence in the eventual success of Iraqi economics and Social reform.

The whole problem I was experiencing, I’m quite certain was a result of my doing and not the Bank.

Hi All,

This post is from Asia.I have been involved with the NID for 6 months now.
The NID replaced the Swiss Dinar and Saddam's dinar in 2003.The country was at it's worst stage. The swiss dinar had better value.

1 Swiss dinar = US$ 3
1 Saddam dinar= US$0.30

When the exchange was made to the people of iraq:

1 Swiss dinar = 150 NID
1 Saddam dinar = 1 NID.

So, 1 NID = US$.02 (Swiss dinar previous value of US$3 divide by 150 NID).Very concervative compared to present value between US$ and NID.(0.0006849)

So I believe the peg should be more than .02.
Your present dinar has more value than you think.At the end of the day, you are only going to say 2 things.
I was a fool not to buy it orI was a fool to buy it. On the other hand, if there is no more circulation of NID, you stil have a collectors item in your hand to sell in Ebay.You cannot lose.Have faith and all will go well.Carl,Sara Thanks.

Good morning to all! It's a beautiful day!!!!!!!!

Thats great peter!!!
We have only heard that a few hundred times, just different versions.
What do you base "your opinion" on, that indicates, in two months the dinar will increase in value?

Yes Spill the beans Peter!!!!!!!

I`m selling my 6M dinars . at a very discounted price of only $4000.
The reason i`m selling is becouse i have a cash problem that needs to be solved immediatry. ( other wise i belive this investment is the best i have ever made and will buy back if at the time i get money ist not too late

Interested buyers contact me at fesente@yahoo.com

The intent was not to look after the oil fields of Iraq when the US went in.

U.S. Finds Nuclear Materials Buried in Iraq
Wednesday, June 25, 2003
WASHINGTON — An Iraqi scientist has led the CIA to nuclear materials buried in his backyard, Fox News has learned.

Mahdi Obeidi told U.S. agents in Iraq he was ordered in 1991 to hide documents and parts for a centrifuge to enrich uranium for nuclear weapons. Obeidi said he was told the materials should remain buried in the backyard of his Baghdad home until sanctions against Iraq ended, when they would be dug up and used to reconstitute a program to enrich uranium to make a nuclear weapon.

"A box of parts and a bunch of documents were buried under the rose bushes in his backyard," one U.S. official told Fox News.

"This shows how hard a job it will be to find stuff when it's under people's rose bushes," the official added.

Obeidi told the CIA he was one of four Iraqi nuclear scientists told to hide such plans and parts. He did not know the identities of the other three and the CIA has so far been unable to locate them, a senior U.S. official told Fox News.

Officials said they believe Obeidi's statements are credible, and described the recovery of the buried materials as evidence of the lengths to which Saddam Hussein was willing to go to hide and maintain his weapons of mass destruction capability.
http://www.foxnews.com/story/0,2933,90440,00.html

And, six days ago, this article, which says there were at least 500 chemical weapons makers in Iraq before the US went in:

Report: Iraq Insurgents Nearly Made Chemical Weapons
Tuesday, April 12, 2005

Iraqi resistance groups have tried to manufacture "CW," and one might have managed it if the Americans hadn't swooped down on them.

The danger has even spilled over into Jordan, where authorities say a plot hatched in Iraq aimed to kill thousands with "poison clouds." The threat demands "sustained attention," says the chief U.S. arms investigator.

The insurgents' work on chemical arms was disclosed in the final report of Charles A. Duelfer's Iraq Survey Group... In a little-noted annex of the 350,000-word document, the joint CIA-Pentagon teams tell of having broken up an insurgent group last June that for six months tried to make weapons agents.

The group had recruited a Baghdad chemist and obtained chemicals from farmers who looted state companies and from shops in Baghdad's chemicals market, the report said. The insurgents... apparently took away nine mortar rounds that had been loaded with the insecticide malathion, the report said.

The Duelfer account also said various sources reported insurgents were trying to produce chemical weapons elsewhere in Iraq.

In November, U.S. and Iraqi forces retaking the city of Fallujah reported apparent evidence of that: an insurgent "chemical lab" where they found the poisonous industrial compound hydrogen cyanide and a book of instructions for making potential chemical weapons.

Weeks earlier, in mid-October, Jordanian authorities said they had foiled planned chemical attacks by suicide bombers on Jordanian government targets. They said the plot was conceived by alleged terrorist leader Abu Musab al-Zarqawi, a Jordanian fugitive in Iraq. Nine alleged accomplices are on trial in Amman.

The prosecution claims the explosions would have created "poison clouds" and killed thousands. The compounds reported seized were mostly ingredients for explosives, however, not chemical weapons, although the list includes "pesticides," possibly a weak substitute for more effective chemical agents.

The Duelfer report warned that chemical weapons-makers from the old Iraqi regime might help insurgents make more sophisticated agents. The U.S. government has been planning to keep Iraqi weapons scientists occupied with nonmilitary projects, but that program thus far involves only 125 of them, of an estimated 500 targeted.

Some outside experts suggest the likelihood and impact of insurgent-brewed weapons may be overstated.

http://www.foxnews.com/story/0,2933,153228,00.html

So the US only cared about oil and her pocketbook????

HI ALL
GREAT POSTS TODAY.YES IT IS A BEAUTIFUL DAY.
HEY STARTING AT .02 WON`T HURT MY FEELINGS ANY THATS FOR SURE.GOOD LUCK RON

He all,

Just wanted to post this bit of news.

http://www.csmonitor.com/2005/0418/dailyUpdate.html

Iraqi hostage crisis 'grossly exaggerated'

By Tom Regan| csmonitor.com

At first it looked like a very tense situation. Media reports indicated that over 150 Iraqi Shiites had been taken hostage by Sunni insurgents in the town of Madain, 30 kilometers south of Baghdad. The town of 100 families is evenly divided between Sunni and Shiite families.
Then Iraqi security forces launched a dramatic raid on Sunday, backed by US forces, who conducted door-to-door searches. And what did they find?

The BBC reports that the Iraqi forces found some explosives but no hostages in the town. They also said there was no resistance offered when they entered the town. The Associated Press reports that it appears events in the town had
been "grossly exaggerated".

GREAT NEWS, Robert!
I prefer that they snuck away without bloodshed, rather than adding to the body count list. Your story says it was grossly exaggerated.. which likely means that those involved thought better of it and released their hostages and walked away.

This one just previous to yours was interesting.. a quite different account.. from Fox News.

Iraqi Security Forces Free Hostages in Raid
Sunday, April 17, 2005

BAGHDAD, Iraq — Iraqi security forces raided a town in central Iraq and freed some 15 Shiite families being held hostage on Sunday, an official said, after Sunni militants threatened to kill dozens of captives unless all Shiites left the area.

The government said it was trying to resolve the standoff peacefully, while Shiite lawmakers called for action to stop "terrorist groups from promoting sectarian violence."

Iraqi forces had freed about 15 Shiite families, said Haidar Khayon, an official at the Defense Ministry in Baghdad. He said five hostage-takers were captured in a skirmish with light gunfire, but no casualties were reported.

http://www.foxnews.com/story/0,2933,153689,00.html

I am just glad it appears over, without bloodshed.. whatever the official reports end up saying.

Sara.

Until stability is acheived in Iraq, the dinars we hold remain worthless. Regarding Iraqs oil. Iraq even if it could pump at record levels still has the problem of getting the oil out of the country. Iraq is shaped like a funnel and has very limited port facilities. So even at peak production, Iraq could not physically get the oil exported in quantites like Saudia Arabia, Kuwait or Iran.

Sara and Ron,

Ron,
It is good to see you on. Hope things are going good with you.

Sara,
Isn't it amazing how these stories in Iraq get twisted around from these news organizations?
I think that you are correct. They snuck away, because they didn't want to be the "to dust" part on the "dust TO DUST" phrase. LOL

Al Yahud;

You said "Iraq is shaped like a funnel and has very limited port facilities." This has not seemed to be a problem in the past because Iraq was still able to be the second largest oil exporter in the region. This recent article says that there are PIPELINES out of Iraq, including one heading North which they are attempting to get online, quote, "the northern export line that flows to Turkey's port of Ceyhan".

The small amount of physical port facilities is, therefore, not as paramount in concern, if much of the oil leaves Iraq through the PIPELINES. You say, "Iraq could not physically get the oil exported in quantites like Saudia Arabia, Kuwait or Iran." but the Iraqi Dinar was once worth over 3.00 US. Though the ports might be small, the pipelines can account for the larger exports of oil and also for the Iraqi currency having been worth so much.

Iraq oil exports could climb 30 percent by Sept - SOMO
15 Apr 2005 08:21:43 GMT
Source: Reuters
By Luke Baker

BAGHDAD, April 15 (Reuters) - Iraqi oil exports could increase to 2 million barrels per day by the end of September from current levels of 1.5 million if security in the country improves, the head of state oil marketer SOMO said on Friday.

"With improved security and investment, we can reach exports of 2 million barrels per day by the end of the third quarter," Dhiaa al-Bakkaa, director general of SOMO, told Reuters.

"We've got an allocation of $3 billion for upstream and downstream investment and with the formation of the new government, that money should start to be released.

"That would have an immediate positive impact on output, which by the end of the third quarter could increase to 2.8-3.0 million barrels per day."

April output is running at an average of 2.3 and 2.4 million barrels per day, he said, of which 1.5-1.55 million was being exported. The rest is used for domestic consumption, including electricity generation and refining.

Iraq is in the process of forming a new government in the wake of elections held at the end of January, with the shape expected to be finalised in the coming days.

Once the make-up of the government is known, including the crucial Oil Ministry appointment, coveted by several competing factions, investment should begin to flow almost immediately.

"The potential is there for an immediate increase in output because the investment is not in the development of new fields or wells, we just need some investment in water injection and other things," Bakkaa said.

A new security force is being put in place to protect the northern export line that flows to Turkey's port of Ceyhan, an essential link in Iraq's oil-dependent economy.

"The potential is there to resume exports through the northern pipeline to Turkey, but the issue is security," Bakkaa said. "A force is being set up to guard the pipeline and with the formation of the new government that should take effect."

http://www.alertnet.org/thenews/newsdesk/BAK530047.htm

Sara,
The dinar value you speak of was never recognized in any international bank. Saddam had a "fixed" value to the dinar but one could never walk into HSBC and trade dinars for dollars at the rate you speak of. Regarding Iraqi port facilities, one of the main reasons Saddam attacked Iran and then Kuwait was to increase his access to the sea. Pipelines through mountainous Kurdish controlled Turkey is not reliable. Iraq quite likely has the worlds largest oil reserves (once the western desert has been fully explored). But getting the oil to market is always going to be a challenge for Iraq considering its lack of sufficient port facilities.

Al Yahud;

It was once worth that, when it was removed from the English pound... but even if you go with that declined value.. the value that WAS recognized, if returned to now, would give Dinar investors quite a large boost in their fortunes, would it not?

Saddam DID have a problem with the Kurds letting him go through the North. BUT.. have you noticed??? They elected a KURD to be President!!

Do you think a Kurd President could change that situation? I do. News articles have said the Kurds in Turkey are looking for alliances with the new Iraqi government (pretty sure it was quoted above somewhere).

You said, "Iraq quite likely has the worlds largest oil reserves (once the western desert has been fully explored)". That is quite a nice thing to learn!! :)

As for the difficulty of getting that vast amount of oil to market, with the Kurds onside and the international community willing to lend a hand, it looks very promising to me.

Do you not think the Insurgents will, in time, be caught, killed or discouraged enough to give up? Those with the will to fight are not that many, I believe. There are some, to be sure, but most want a normal life, not the life of on-the-lam criminals running from justice.

Think of what it is like for the heads of the terrorist network. It has to be a heck of a lot of fun to be one of the most hunted individuals with a price on your head, wouldn't you think? Is that what they really want? Aren't most men more motivated to want a strong country, a family, a wife, kids, a good job??? What kind of future are they thinking of? The young don't think so much about a future, but as the Insurgents age, if they don't blow themselves up in a suicide attack, mightn't they think better of this suicidal mania of destruction, and consider if they want to live at war or return to peace? Many in Afghanistan did just that, turned in their weapons and went back to being farmers. It worked that way there, I hope it will here, too.. in time.

I also honestly don't think they have the willpower or ability to continue this rebellion against the Will set against them.. both of the US and of God. They will be continually opposed, and they have no viable alternative.

It says in this USA today article:
Insurgents' smallest weapons pose greatest threat to troops
BAGHDAD — Before his arrest last month, Ahmed Hassan Reja was a bombmaker who played a key role in the fight against coalition and Iraqi government forces. Now he sits cross-legged on the floor, blindfolded and barefoot, in an Iraqi prison.

Reja, 27, was captured after he deployed the insurgency's principal and most-destructive weapon: cheap, strategically placed bombs. His head bent, one hand bandaged from an abortive blast, Reja describes himself as part of a 12-man cell in the Islamic Army in Iraq, which is loosely affiliated with Jordanian terrorist Abu Musab al-Zarqawi's al-Qaeda in Iraq.

Largely uneducated, he says he is ignorant of Islamic Army leadership beyond his own cell and unclear on who would lead Iraq if insurgents prevail. The Interior Ministry says Reja is the face of the enemy.

Reja says he was paid about $15 per assignment to set and explode the small but devastating bombs called improvised explosive devices, or IEDs. He says he successfully detonated two IEDs against U.S. and Polish military convoys, and that he was captured March 23 while attempting to bomb a Baghdad pharmacist who the insurgents believed was a U.S. collaborator.

“I consider myself a freedom fighter for the independence of my country,” Reja says. Married with two young children and a mother to support, he says he worked as the caretaker at the Al-Sadeek Mosque in the farm village of Latifiyah south of Baghdad while training with the Islamic Army.

http://www.usatoday.com/printedition/news/20050412/a_detainees12.art.htm

This boy is "the face of the enemy". He is a young farmer boy from the farm village of Latifiyah, worked in a mosque where he was indoctrinated into extremist ideas, and was totally ignorant of any plausible alternative to the current order, "Largely uneducated, he says he is ignorant of Islamic Army leadership beyond his own cell and unclear on who would lead Iraq if insurgents prevail".

An interesting portrait of the causes which are responsible for the insurgency in Iraq.

Sara.

I`m selling my 6M dinars . at a very discounted price of only $4000.
The reason i`m selling is becouse i have a cash problem that needs to be solved immediatry. ( other wise i belive this investment is the best i have ever made and will buy back if at the time i get money ist not too late

Interested buyers contact me at fesente@yahoo.com

I copied this from the last thread for you, (previous page to this one) to prove it WAS once worth that much.. though it did get devalued, as you said, Al Yahud:

History of Iraqi Dinar

1932
Currency unit consisting of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86.
1932–1949
1949–1971
Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80 between 1949 and 1971.
1959–1967
Iraq officially uncoupled the dinar from the pound sterling as a gesture of independence in 1959, but the dinar remained at parity with the pound until the British unit of currency was again devalued in 1967.
1971
One Iraqi dinar remained equal to US$2.80 until December 1971, when major realignments of world currencies began.
1973
Upon the devaluation of the United States dollar in 1973, the Iraqi dinar appreciated to US$3.39.
1980
It remained at this level until the outbreak of the Iran-Iraq War in 1980.
1982
In 1982 Iraq devalued the dinar by 5 percent, to a value equal to US$3.22, and sustained this official exchange rate without additional devaluation despite mounting debt.
1988
In early 1988, the official dinar-dollar exchange rate was still ID1 to US$3.22; however, with estimates of the nation’s inflation rate ranging from 25 percent to 50 percent per year in 1985 and 1986, the dinar’s real transaction value, or black market exchange rate, was far lower-only about half the 1986 official rate.
1986–2003
1986–2003 between .33 cents to 1.32 to a dollar.

Even with the value at only .33 cents..
that is not too bad for those of us who hold Dinars, Mr. Yahud.

Sara.

Good Luck at trying to find a bank to accept our dinars. Having a Kurdish president of Iraq will do little regarding the local politics of the Iraqi/Turkish mountainous region. This area has always been one of restive tribes for thousands of years. Putting a pipeline through it and expecting "peace" is naive thinking. Turkey nominally controls its side of the border. Kurdish tribes will hold every inch of that pipeline hostage for their wants, needs and desires. Running a pipeline through the Anbar province presents an equal challenge with the Sunni tribesman. This is why Saddam wanted to expand Iraqs seacoast to avoid all these problems. Very similar to the central Asian countries trying to get their oil/gas out of their land locked countries.

After reading all the postings, I would be interested in purchasing a small amount of dinars from a reputable broker/importer. Can anyone give me the email address of someone you have done business with and have not had any problems? I am in the U.S.

Thank you.

Al Yahud , I've been sporadically reading your posts from here and IIF in the past. Without criticising, Do you EVER have anything positive to add about the Iraq situation and/or dinar ?

Al Yahud, you said, "Having a Kurdish president of Iraq will do little regarding the local politics of the Iraqi/Turkish mountainous region. This area has always been one of restive tribes for thousands of years."

Reading this, I wonder.. am I to believe that people cannot change? That always they will act as their ancestors did, that a "restive tribe" will forever be restive and never progress or be peaceful? No minds will ever go beyond that which their ancestors did, and no progress of any people group toward mature agreements among adults is possible? With that thinking, the black people in America would still be slaves, never to rise above what their ancestors achieved.

You said, "Putting a pipeline through it and expecting "peace" is naive thinking. Turkey nominally controls its side of the border. Kurdish tribes will hold every inch of that pipeline hostage for their wants, needs and desires."

Are you saying there is no place in politics to address those wants, needs and desires so that BOTH sides can come to a place of being happy with it? Are you saying that they are too primitive a people, too.. stupid? Too determined to have their own way, and unable to compromise? Too immature.. ALL of them? Maybe you have a point, but maybe you are prejudiced against an entire people group. Maybe that is racist thinking. It would be if you said it of the Indians or Blacks in America getting ahead.

Perhaps American thinking is naive. But giving people a dream and helping them to work ahead on it toward progress for the advancement of their own people has worked in this country. I am willing to give the Turks of this century a shot at doing it, to see if they are primitives, restive and unable to come to mature agreements when they have signalled their willingness to talk and cooperate. I think America is giving the Iraqi people that chance, too. Perhaps the Darwinian thinking which limits mankind to the mindset of their ancestors and no higher, is wrong. Perhaps men are not animals, the product of past breeding only, but people, with hopes, dreams and minds capable of more than being a "restive tribe" forever.

Then again, the Insurgents daily show us that not all men have minds capable of going beyond the level of the dirt they came from.. (from dust to dust) but you cannot deny that some can, and do.

That Saddam had those problems with the Kurds and Sunnis, I understand. He was hardly there to try and help them achieve their goals, or GIVE anything to them in the deal. He was a dictator, not a negotiator or peacemaker. But democratic people should be able to get along, even if they disagree on things. America is an example of that "melting pot" working. If it works for America, and makes us prosperous, mightn't they manage to have their own brand of it, one that tastes fine to the Eastern palate? Freedom, peace and prosperity should be a worldwide norm which works for every people.

They haven't had anyone worthwhile negotiating with before now.. so maybe those primitive restive tribes.. might suprise you in their dealings with the Iraqi Kurdish President.
I hope so.

Sara.

Hey Al,

What do we do with this Dinar?

Regards,

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With the current valuation of the Dinar, who can afford these "Western" prices in Iraq?

some facts on the IQD history vs myths on exchange rates

up to 1973-1979 the dinar traded $3.39/1USD
by 1982(war with Iran) up until Gulf War II, the official rate devalued by 5 percent to $3.22 USD to the dinar or conversely the peg at at 0.3109 IQD to 1 USD.

That Official rate was Saddam's artificial rate
you could only get that rate if you were one of Saddam's VIP's or inner circle
i.e; he gave you a signed note document you took to the bank
He was basically 'giving money away' as there was always a black market rate(below)
You could go into the Market on Khifa st in Baghdad and purchase 2000 IQD for $1
That's why the IQD was not traded interbank and why you could not get that rate in-country.

There was NEVER a 33 cents,31 cents to the 1 USD
This came from misreading the peg conversion

If there was a 33 cents it would have looked like this;(much like Saudi Riyal conversion

1 US Dollar = 3.03030 IQD
1 IQD = 0.33000 US Dollar (USD)

there were never 3 dinars to the 1 USD
this is misinformation
This does not mean the NID cannot appreciatte to values comparable to 16-25 cent range :>)
however the repeating and posting such rates is cause for confusion and is not accurate
This was invented by dinar sellers for a sales
ploy.

CURRENCY HISTORY: in April 1932 at the end of the British mandate, the Iraqi currency board opened with the launch of the dinar which was then pegged at par with the British pound and backed by pound reserves. In year 1947, the currency board was then replaced by the central bank system with the dinar quoted at $4.86 USD to the dinar. By 1970, the official exchange rate had the dinar at $2.80 USD, year 1973 at $3.39 USD.

By 1982 up until Gulf War II, the official rate devalued by 5 percent to $3.22 USD to the dinar or conversely the peg at at 0.3109 IQD to 1 USD. Black market rate is volatile and fluctuates around 2000 IQD to the USD in 2001 and also in August 2002 of which represents a significantly lower valuation than the irrelevant official rate.

However, it should be noted that black market rates differ tremendously from official rates. It was interesting to note that former President Hussein demanded that oil payments from the United Nations be paid in euros rather than US-dollars to further embarrass the United States.

Further, it is widely viewed that the official exchange rate policy was for the most part only available to former President Hussein and his associates.

At the height of the Iraq-Iran was in 1986, inflation in Iraq reached 50 percent with black market exchange rates estimated in the range of 500 to 1000 IQD to the USD. Historical black market valuations include shortly after Gulf War I in 1991 the old dinar collapsed to 7,000 IQD to the USD and by 1995 the rate had rallied to 3000 IQD. In 1996 just before the United Nation’s implemented the oil-for-food program, the IQD then rallied to a level of 2400 IQD to the USD, year 1997 at 1530, December 1999 at 1910 IQD,

December 2002 at 2330 IQD to the USD, April 2003 the dinar fell to 9000 IQD

to the USD as Iraqi banks were being looted, March-April 2003 traded as low as 4,000 IQD with other reports of trading in the 5000 to 6000 IQD to the USD level, an exchange valuation of 2000 IQD at the time of Mr. Hussein’s regime overthrow in April 2003.

July 2003 at 1500, October 15, 2003 at 1970 NID to the USD (currency swap to New Iraqi dinars from old dinars) and May 2004 at 1340 to 1660 NID. During the war in spring 2003, the old Iraqi dinar brought back memories of its validity as wheelbarrows of paper currency were required to facilitate transactions, the currency almost worthless at that time. In addition, other currencies came into circulation during this time of chaos within Iraq include the Kuwaiti dinar, the USD, Euroland euro, Syrian pound, gold, and the Jordanian dinar.

source:http://www.bankintroductions.com/iraq.html

Perhaps the board was aware that there are Iraqi coins in circulation for the first time since the 1990s. This is another good indicator of progress. I wasn't aware of it until a someone mentioned it recently and I thought it very interesting to the board, so here is that article, dated January 2005:

Iraq reinstates coins first time since early 1990s
(AP)
1 January 2005

BAGHDAD - Iraq will reintroduce coins into circulation for the first time since Saddam Hussein’s regime abolished them in the aftermath of the 1990 Gulf War, a spokesman said Saturday.

Starting next week, Iraqis will be able to use coins of 25, 50 and 100 dinars, Central Bank spokesman Zuheir Ali Akbar said.

Coins were scrapped in 1991, when the international embargo sent Iraq’s annual inflation rate soaring upward of 1,000 percent. Hyperinflation caused the dinar’s exchange rate to fall drastically, thus making coins and small denomination banknotes virtually worthless.

The Iraqi currency, which had been worth US$3.22 prior to the 1989 invasion of Kuwait, sank to 3,000 dinars to the US dollar by 1996.

It fluctuated wildly in the wake of the US-led invasion in March 2003, but has since stabilized at about 1,450 to the dollar.

http://www.khaleejtimes.com/Displayarticle.asp?section=focusoniraq&xfile=data/focusoniraq/2005/january/focusoniraq_january5.xml

Notice these real estate prices are in USD? Iraqi dinars are worthless in Baghdad when purchasing real estate. But hey I can buy a bottle of Bebsi(Pepsi) for 5 dinars! Oh yeah, Im an optimist to the core. Why else would I have shoeboxes full of 250 dinar denominations under my bed? I am also a realist. These dinars will be great wallpaper. The wealthy Iraqis are hanging out in Jordan and Syria for now. All indications are they are staying put for years to come. Jordan has by royal decree allowed Iraqis to purchase real estate in Jordan and stay indefinately.

Al,

Do you have a final statement or should we just burn our dinar now. I tired of your views, please find some other site that supports your thoughts.

Al,

Just remember this is money I can afford to lose. I'm sure if the Iraqi knew we (USA) have faith in there future they would thank us for it. If the Iraqi's don't come to grips with a changing world it would be their lose for years to come. The U.S. could simply pack up and ship out. I'm sure your not ready for that to come to pass!.

Al Yahud,

I believe that if those who had lived in hell for so long are sick of it and will not take it any more.So there for with the devil gone they are free to live in peace and that will be done, I am sure of.They will move heaven and earth to do so!And that my friend will be all they need is their determination.And their determination is what will turn Iraq and the dinar valuble.

Great post Sara!!!!!!!!!!!!!

I am holding a significant amount of dinars. I have also been reading this site and Investors Irag for some time but remain mostly quiet. But today I have to say something. First, Thank you to all the POSITIVE mem,bers who have put their time into helping keep each other informed and positive. However there are a few few just plain rotten people out there that for some unknown emotional defect have a need to spew negativity and xxxxx. It is a sad fact of life that these types of people exist. It would never occur to me if I were not invested in this idea to go to a web site and say mean spirited and vicous things about and to the people involved. I cant get my head around what motivates these obviously angry negative people. I als noticed that when it happens here a very similar thing will happen over in Investors Irag. So iI guess they really feel a need to be mean to as many people as possible. All I can do is THANK GOD I am not like those people. " There but for the grace of God go I". ON a seperate note I was listening to a radio staion I frequent last week. The hoist had a professor of Islamic Studies on. The professor is Idian by birth and is neither a Shite or a Sunni. They discussed many things and quite a bit on the Islamic reluctance to embrase capitalism ect ect. At the the the professor said he never makes predictions but he felt a need to make one that day. He said his prediction was that if Irag is able to continue to build its Democracy. He predicted that in 15 yrs Irag would pass the current Germany in GDP and value. Based on todays values. He said socialism is destroying Europe and Germany and democracy will build the middle east and particuarly Irag whicjh has the resources and educated populace. Todays value of the Deutch Mark is 1.50 to 1.00 USD If he is correct in % years the IGD would be worth .50 in 10 yrs 1.00 and in 15 yrs 1.50. I think I'll hold on to mine Al.

Al:

5 dinars for a pepsi in bagdad? Huh...
Time for some math...
If 50 cents buys a pepsi in U.S. and 5 dinars buys a pepsi in Bagdad....
Then 1 dinar is or will be worth 10 cents?

Hello everyone.
Does anyone about the correct rate for the yen?

Tuesday, April 19, 2005
1 US Dollar = 107.590 Japanese Yen
1 Japanese Yen (JPY) = 0.009295 US Dollar (USD)

Median price = 107.560 / 107.590 (bid/ask)
Minimum price = 107.250 / 107.290
Maximum price = 108.050 / 108.080

Hope this helps Angel..

Border with Iraq protected — King

AMMAN (Petra) — His Majesty King Abdullah on Monday reiterated that Jordan is doing its utmost to protect the border with Iraq and prevent the infiltration of terrorists into the neighbouring country.
King Abdullah told top representatives of Iraqi media outlets at a Raghadan Palace lunch that Jordan supports Iraqis in their efforts to overcome their difficult circumstances.

The King said Jordan's historical and brotherly ties with Iraq “are too strong to be sabotaged.”

“Jordan will always be the primary backer of Iraq and Iraqis' aspirations,” he reiterated. “The Iraqi people's success in building a democratic Iraq that plays an active regional and international role is also Jordan's success, and restoring Iraq's security and stability is key to Jordan and the entire region.” The media representatives, who met with several officials and their counterparts here, said the visit enhanced their belief in Jordan as “the real backer of the Iraqi people.”

http://www.jordantimes.com/tue/homenews/homenews1.htm

Does anyone know how I can change my 25000 dinars into smaller amounts with out having to go back to the middle east?

I`m selling my 6M dinars . at a very discounted price of only $4000.
The reason i`m selling is becouse i have a cash problem that needs to be solved immediatry. ( other wise i belive this investment is the best i have ever made and will buy back if at the time i get money ist not too late

Interested buyers contact me at fesente@yahoo.com

Valuable infomration from IraqInvestors Forum:

**** A Must read for all owners of the new iraqi dinars ****

Has anyone experience with displaying and storage of paper notes? I want to create a "picture frame" type display with one of each IQD denomination and some text to give to special friends and family. I hope to do this in a way to both raise awareness and perhaps have it be a gift that grows in value.

Obviously, for the latter to be feasible, the currency needs to be undamaged by chemicals, moisture, etc.

I imagine glass panels supported by a wood frame to be the best solution, though it would be nice to work with plexiglas or some other composite to avoid breakage. Do I need to consider airtightness, or is "room" temperature and humidity acceptable?

Thanks in advance to anyone with some advice!

Chris

____________________________________

were talking about dinars thats worth less then the paper its printed on... no need to go all out.
____________________________________

Chris-- money made that well can last longer than you think, it should be fine just regular framing.

____________________________________

A friend of mine has one of each note stacked from high to low den. in plexiglass and it looks really cool. He had it done at a frame shop.

James

____________________________________

Trizz .. very cool!

Chris, if you need peace of mind, you could also talk to someone at a scrapbook store. They can offer suggestions concerning the paper and matting, if you're going that route. My sister did that with some foreign currency from a trip she took.

____________________________________

I put a full collection of the old dinars in a spinny picture holder, and that worked great. They slide in where the pictures should go, then you spin it to see the rest. Im thinking about doing it for the new dinar, though at some point i mihgt have to bust it like a piggy bank to "cash in"!

example:
http://cgi.ebay.com/ws/eBayISAPI.dl...4373786384&rd=1

______________________________________

I bought a currency album for $8.95 from a coin & currency store. I placed one of each denomination in it. I have it on the side table in my living room, and it is great!

______________________________________

Hello, I had a bill matted and framed last year, it looks great and it hangs in the office of my father in-law. As long as if gets air, it shouldnt mold. or for long term (20-40 years) I guess you could vacuum seal it, but thats getting a bit extreme. Good luck, Lance

______________________________________

Thanks for the ideas... now I just haveta find one of those pesky stores. I've seen 'em, somewhere, it's one of those things that I hadn't paid much attention to before. I did do some time in Home Depot pondering, and formed a pretty good idea on how to do something, but it'd be nice to just find something that I didn't have to make, as time is thin for me right now. Also, I asked at Michaels and they didn't seem to be interested in making a frame with glass on both sides... roh rell, their loss.

Dream on people. The Iraqi dinar will amount to nothing but colorful wallpaper and rough toilet paper. How many Warren Buffet types are investing in the dinar? I just see a bunch of ordinary schmucks buying it up thinking they will hit the lottery in a few years. Foreign investment in Iraq is still banned. The ISX is not opened to foreigners. Owning land is restricted to Iraqis only. The oil industry is state controlled. The only changing in Iraq is the face of its leaders, other than that it's business as usual.

Foreign investment in Iraq still banned?????????

The Iraq Stock Exchange is open for international investors who desire to contribute to the reconstruction of the Iraqi Economy. New legislation with the purpose of liberalising the oil-rich Iraqi economy and promoting free market economics stipulates that:

foreign investor shall be entitled to make foreign investments in Iraq on terms no less favorable than those applicable to an Iraqi investor, unless otherwise provided herein. Ref: Investment Law
The amount of foreign participation in newly formed or existing business entities in Iraq shall not be limited, unless otherwise expressly provided herein. Ref: Investment Law
A juridical or natural person foreign or domestic has the right to acquire membership in (all) companies … as a founder, shareholder or partner . Ref: Commercial Company Law

All I may be an "ordinary schmuck" as you said,
but your an Ideot!!!!
You cannot even backup what you write..
Here let me show you how:

http://www.isx-aman.com/clients.cfm

See, atleast I have some proof of what I post!!
This is our money, our lives, if you have dinars and dont want them, please give them to me, I will gladly tuck them away with mine!!!!!!!!

Middle East Bank to double paid up capital to ID 30 billion, April 07

The Middle East Investment Bank will double its capital base to reach ID 30 billion, $20.6 million, according to the chief executive officer of the bank Mr. Zuhair Al-Hafidh.

The Iraqi Middle East Investment Bank is a private joint stock corporation with a paid up capital of ID15 billion divided into an equal number of outstanding shares each with ID 1 par value. In 2004 the bank doubled it paid up capital from ID7.5 billion to ID15 billion. All seventeen private Iraqi banks are to increase their paid up capital to at least ID50 billion ($ 34.5 million) in order to comply with directions of the Central Bank of Iraq, CBI. The latter, which recently acquired independent status from the executive branch of government, is charged with regulation of the financial and banking sector of Iraq excluding the capital stock market (ISX). The ISX is regulated by the Securities Commission composed of five commissioners.

Banks are finding different avenues to reach the ID50 billion benchmark stipulated by the CBI. Many of them such as the Credit Bank of Iraq and Dar-Al-Salam bank are said to be opting for partnerships with international banks. The Credit Bank for example struck a deal with the IFC of the World Bank and the Kuwait National Bank where the latter two bought 80% of the former. But according to Mr. Al-Hafidh, the Middle East Bank is unlikely to follow this route. There is enough national liquidity to build up the required financial base of the bank without resort to international funding the CEO was quoted saying. The plan of the bank is to capitalize 2004 net profits after taxation estimated to be equal to ID 2.75 billion, Mr. Al-Hafidh announced. He went on to add that existing shareholders will be asked to bridge ID 12.25 billion so as to make a total injection of capital equal to ID15 billion. In other words shareholders will pay ID0.83 for each share they buy. They will be allowed to buy shares equal to their existing holdings just before the general assembly. The General Assembly meeting where shareholders will discuss these proposals and likely endorse them is scheduled for next May according to the CEO of the bank.

Recently the MEB released preliminary financials for 2004. The profit and loss account sheet reports profits (before provisions and taxes) of ID 5.853 billion, $ 4 million. This amounts to more then 300% rise on comparable figures for 2003 when net profits were ID 3.9 billion.

The outstanding growth in the Bank's performance emanates largely from banking business in foreign currency transactions including investments in the international banks which off limits to Iraqi banks under sanctions. According to the released financials such investments grew from $137 thousand at the beginning of 2004 to just over $10 million by the end of the year. Loans issued in foreign currency grew from 2.463 million to close to $14 million in the same period.

The Middle East Bank for Investment was established in the mid 1990s and is now controlled by the multi-business family of Al-Hafidh from Mosul (nor relation to the CEO of the bank). The bank has some 11 branches spread across Iraq including the northern province of Mosul.

The bank is among few listed companies in the ISX that adheres to newly endorsed disclosure regulations.

The healthy balance sheets of the bank have been reflected in the price of its shares which has a relatively high turnover in the ISX. Mid 2004 the bank’s shares were traded at ID 7. To the delight of the several thousand shareholders who were able during 2004 to buy new shares at par value of ID1, the current price of the stock is over ID8. This implies a rise in real terms of 100%. Some shareholders bet that the same fortunes will repeat itself during 2005
http://www.isx-aman.com/news/meb_paid_up_capital.htm

The Bayne Law Group LLC--based in Princeton, New Jersey--announced today its offering of legal services to emerging businesses in Iraq.

The Bayne Law Group LLC, a private legal consultancy, "focuses on providing affordable international contracts, transactions and dispute resolution for small and middle-market business interests throughout the world."

According to the Group, their legal expertise dealing with the Iraqi business community offers the services of "an affordable, concentrated firm, experienced and recognized in international transactions, contracts and litigation."
http://portaliraq.com/shownews.php?id=439&PHPSESSID=99a7879071f917aa38fe8f1e5f915407

LOL, made you think Al, yes soon you will see that the ISE will be open to foreign investments.. What will you do when you see it on the news someday soon? Say "boo hoo" I wish I had some dinars too!!!!!!

PART ONE
THE GCC CURRENCY UNION,ITS INFLUENCE ON THE IRAQI DINAR AND SURROUNDING REGION.
This post will contain information from several different articles and areas of the media. In some of this information, I quote directly from the article, in some areas, I paraphrase to reduce space and time. The paraphrasing does not change the material flow the writer intended to get across.
It has taken me time to condense this gathered information down to a post that does not run on and on.But,even now it will still be lengthy.
So in an effort to break it up, I will post this in Parts.
I believe the GCC Union Currency is going to be one of the biggest factors to affect the Iraqi Dinar Valuation. By all post,I have read, there is very little reason to think the Iraqi Dinar will not be part of the GCC countries Union Currency.
In order to understand that affect, first you have to understand the whys and affects expected of the Union Currency.
The Value of the Union Currency to be established is yet unknown.
THE ECONOMIC AGREEMENT
The GCC is made up of 7 countries, which ratified in November of 1981, an Economic Agreement setting the stage for a full economic integration.The purpose was to setup a full economic integration developing a free trade area, a customs union, a common market and a "economic union". This agreement has very broad guidelines,in order to accomplish this economic cooperation.
THE PURPOSE OF THE CURRENCY UNION
The GCC economic structures remain dominated by the oil sector, intra-regional trade and have very different business cycles. They realized this was a major hinderance to their economic structure. Cooperation was needed in order to remove some the barriers to their regions trade, and give them better economic positioning in the international market.
The main favorable factor for the establishment of the currency union is these countries political will and commitment to accomplish this.
By doing this, it will create a more synchronized business cycle, balance their economic structures, commonize their trade,labor policies,and simplify their trade regulations among those countries who are involved in the union. What this means in common terms is, it will lift all trade barriers,and allow free movement of goods and labor among those countries. Basically, what they are doing is surrendering national interest of each country to a regional interest of protential economic growth, not seen in that region before.
Some analysis, have projected, it will increase their trade outside of the region by 3x. Some say this is too optimistic and will be a little less. The truth I believe lies somewhere in the middle.
Regardless, all say it is going to be a economic boon for those countries who participate.
THE FIRST STEP:
With common purpose, in 1983 the "Free Trade Zone" was established.
THE SECOND STEP
In 1999, a phase of integration through establishing a Custom Union was met. The Customs Union time table was set at 2005.
In 2000, the corner stone of achieving full economic integration was completed when they agreed to adopting a common peg for the different currencies of the GCC.
THE THIRD STEP
Dec 2001, They agreed to have a joint customs tariff at 5%. The time table was 2003, TWO YEARS earlier, than initially planned.
THE FOURTH STEP
Voted to have created a single currency by no later than 2010. They for now have agreed the american dollar will be the "Common Peg". It is their common belief the complete integration of product and market, requires elimination of transactional cost and uncertainties associated with each country having separate currencies.
There has to be some way to measure the worthiness of a union currency and its benefits, if any.
In order to do this, they used what is called, "The Theory of Optimum Currency Areas"(OCA). This apparently has been used with other countries, when considering whether a single currency should be used.
END OF PART ONE

Great post Carl!!!!!!!!!1

Yadda, Yadda, Yadda.......
Just wait......
Will be open......
Going to increase.....
Experts say.....
Gee, these are great inspirational quotes for the foreign investor in Iraq.
If you guys want to get rich quick, Raghad and Rana Hussein are single living the good life. Raghad recently had some more cosmetic surgery done and looks hot.
http://upload.wikimedia.org/wikipedia/en/d/d7/SaddamandRana.jpg.jpg
http://www.uruknet.info/uruknet-images/raghadhussein.jpg

CARL WHAT A GOOD POST.I AM WAITING FOR #2
MICHAEL GOOD WORK
RON

Al Wrote:
"The Iraqi dinar will amount to nothing but colorful wallpaper and rough toilet paper. How many Warren Buffet types are investing in the dinar? I just see a bunch of ordinary schmucks buying it up thinking they will hit the lottery in a few years. Foreign investment in Iraq is still banned. The ISX is not opened to foreigners. Owning land is restricted to Iraqis only. The oil industry is state controlled. The only changing in Iraq is the face of its leaders, other than that it's business as usual"

Al - I think you're being too cynical and very unrealistic. How can you think for one second that the NID's will make as good toilet paper as they will wall paper. Can you imagine the feel of that metalic security strip on your bum?! Give me a break! The various colors and patterns of the different denominations will make very beautiful wall paper though. There's already a website set up for ideas about this that lets you contribute your own creative ideas for all to share. We should all feel proud about owning a little piece of this triumphant rebuilding of a great country. Adn the good thing is that although you have fewer of the 25k notes per million, they're bigger so they'll cover more wall space.

So Easy does it Al. NID's are not and never will be toilet paper! They're works of art and a part of history! I hope i didn't offend you.

You are a jerk! And I hope I did offend you then maybe you !

Sorry ,that was for Al

Angel;

It's too bad we don't REALLY know who Al or Ben or Red or others ARE.. because when it does go, it would be so nice to be able to gloat over them in person, wouldn't it? That is wicked though, isn't it.. well, practice is necessary for us to learn to be humble when we are all blessed with a strong currency and they look like fools.

Angel, don't let it get to you, just chalk it all up to learning how to act when they are wrong.. exactly what WILL we say to them when it goes and they have egg all over their faces, board? How do we curb the desire to say, "I told you so!!" It is going to be tough, you know..

Sara.

Sara, These are just people in need of attention. If they dont get attention they will wither and fade away. If they had no interest in investing in the dinar, They would'nt be here, I'm sure

Michael:
Good information on the Iraqi banks and the process they are taking to build a strong position in Iraq.
TO ALL DINAR INVESTORS
There is really no need to respond to the negative post of the writer using bogus names.
The writer is not capable of having a intellectual dialog without using slurs and put downs.
This comes from a low self esteem personality, and is an effort to build that person's own sense of value, by degrading others.
So! my suggestion, is measure the worth of the post, and treat it accordingly.
Here in the South, we just look at them sort of like "Turd Bugs" in a cowpile. You just ignore, them and let them wallow in their own creation. Apparently, they like the smell,taste and feel of their playground.

Pie in the sky....
Blue sky investments....

Show me one Ivy league professor, or even one state university professor stating the Iraqi dinar has a chance of making us money.
Then I will gladly eat crow to make you all happy.

Dear Dean,

How you know in Iraq there is 5 Dinar Pepsi? could you please explain me? if you dont mind.

Lets take Coca-cola,pepsi,hewit packered and many other big companies which all have excellent investment portfolios,Do you actualy think they would invest in iraq if it was not a sure thing.Coca-Cola bought one billion NID alone.That right there tells me investing in NID is worth it and more ,even if I have to go a little hungry for a while to support my investment.

Dear Al:
I have a challenge for you. Prove to me that a college degree equals intelligence.
Most of the professors, I know, barely have walking around sense, and the ones who teach economics are the worst. Most of them couldn't run a ice cream stand in Phonex, Arizona during the hottest part of summer without going broke.
Plus, I don't believe I know any real rich professors, who made their fortune off of the currency market, microsoft, e-bay, etc. Gee! if they had been so quick and savy, I believe they would have don't you. They must have looked at those markets like they are the Iraqi Dinar.
So why should I take advice from them?
If you want to learn how to fish, go to someone who really does it for a living, not some yahoo, who has read about when he was in college, then started parroting the same ole garbage he was programed with. Garbage in, Garbage out.
That is like going to a catholic priest for marriage counseling. What in the dickens, can they tell ya about a relationship between a man and woman. Must have read about it in a book, just like the economic professors.
Sorry ya need to pick another profession to try and impress. Missed the boat on that one.
Al! or whoever you really are. The truth is it takes guts to make a decision on something, not really knowing the outcome. You put your best thoughts into it, then just do it. It doesn't mean its the right decision. But at least you had the backbone to bring into reality your conviction about something you feel strongly about. I don't fault anyone who doesn't agree with us dinar investors. Each makes their own choice. But the difference is, the dinar investors, that I see on this board, do not attempt to put anyone down because they made a different decision. That my friend is where the roads part with the writers who deliberately attempt to put down someone elses decision.

How many state university or Ivy League professors do you know that are successful self-made multi-millionaires? I presume they teach for the enjoyment of it, not the money?

Angel;

Excellent post.. Coca Cola!!
Who owns Coca Cola?? ;)
I think we should be really happy!
This is truly a vote of confidence.

Sara.

Sara, maybe we should by stock in Coca Cola? :)
really, I wonder if their stock would rise in value if they were flowing cokes and pepsi's to Iraq?

Iraq oil exports officially resume to Turkey

Tue Apr 19,12:08 PM ET Mideast - AFP

BAGHDAD (AFP) - Iraq has officially resumed crude oil exports to Turkey's Mediterranean port of Ceyhan, a State Oil Marketing Organization official said

http://news.yahoo.com/news?tmpl=story&u=/afp/20050419/wl_mideast_afp/iraqoil_050419160812

Alan Greenspan for the dinar??
I think not.
There is not one economist who advises buying the Iraqi dinar. Show me one program, CNN, MSNBC, FOX,etc.. that has had one person come on and say buy the Iraqi dinar. No one but you SCHMUCKS are buying it. Coca Cola hasnt bought 1 Iraqi dinar.

Sara and michael,
you wouldn't be making fun of me would ya?

Al,
Did they advertise the Kuwait Dinar?

No Angel, I really was wondering if the stock in coca cola will rise as things keep getting better.. I read an article a few months ago about soft drink companies investing in Iraq.. Never ment to offend you Angel.. :)

Michael

I didn't here of anyone saying go out and start buying the kuwait dinar or i would be rich now and wouln't be here talking to you.

Al:
Remember the liberation of Kuait?
My uncle was in that war, but is retired now from the Pentagon.. He had a chance to invest in the Kuait dinar and like you, he thought his comrads who were doing it were SCHMUCKS...
He let that opportunity pass him by, and in a few yrs, he witnessed frends and comrads cashing in and retireing from there investment in the kuait dinar.. That is why he jumped on this investment and shared the info with his family... Al if your tired of the investment, please give those dinars to me and dont flush them.. If the dinar does hit, I will cash it in and give you half the money back!!!! I dont know what else to say!!!!

Michael

bye

Al -
Again what you fail to realize is that this board exists to sell dinars. Don't bother spinning your wheels. Posters here are directly connected with selling the funny money. Ya'll get the picture right? Jes head on down to the shoe store down yonder and pick up a pair of new sneaks. Then take that 'ol box and fill it with them there Deenars. Yehaw! Yessm - At-a-way! Let conductor Kurt drive this dinar train all the way to paradise isle!

Angel;

No, not at all.. the ;) was because I KNOW who owns Coke. I was not changing sides.. I know you are a supporter of the Dinar, not a detractor, and I appreciate you for it and was not attacking you.

Carl and Michael.. super posts lately. :)
And Thanks, Jerseyboy.

Sara.

Olis,
Maybe you'd be better off investing in barbie dolls.

April 19, 2009

I thought for sure the NID would start trading on the open currecny exchange before Dubya left office. Now that the strict Islamic banking laws have been in place they're talking about ditching all the Bremmer currency and replacing it will new bills. And they're not even being clear as to what happens with the old bills. Unbelievable.

And I wouldn't say 1445 iqd / 1 usd is that great a return for 5 years. Turns out these things weren't worth the shoe box I kept them in. Oh well - it was money I could afford to loose.

Oh Goody! We have a fortune teller.Can you see my future.

Dinars=funny money????
no way.
Many people are already riding the gravy train by selling the dinars to people like us:)
The Iraqi dinars are great. I just find people more gullible than me to buy them. My retirement plan is set. The secret is to sell more than you buy and sell them at a 30-50% markup. The smaller denominations you can charge a 100% markup. Anyone interested in 250 dinar notes?

Future
Sorry friend but you are no Edgard Casey

Al,
May I ask why you are so againt the dinar investers? Do you have any?My nine year old says if so he would love to take them off your hands.

Hey

I'm not against the dinar. I have shoeboxes full of them in small denominations. Either way I have made my $$.
Sure, it would be nice to wake up tomorrow and be able to really cash out at Wells Fargo but that's not going to happen in our lifetime. Iraq is a mess no matter how you cut it. The country is full of ethnic hatred and tensions. No amount of investor support is going to change that. What Iraq needs is a powerful leader, not a weak parlimentary government. The US is unable to secure the main road from Baghdad to the airport. Personal safety in Baghdad is untenable for foreigners. How can I as an American walk into Al Warka bank today? I cant. GW had a chance to do it right in Iraq but has failed. The dinar will not be backed by oil or the dollar. The dinar will be only used in Iraq for small day to day purchases.

Al Yahud said:

"What Iraq needs is a powerful leader, not a weak parlimentary government."

Sooo.. would you prefer for Saddam to be in power? (I did wonder whether they gave him access to the net in prision.. hmmmm.. where would he go and post.. just kidding.)

I guess you sympathize with those who would like a "strong" ie dictatorial, leader in power, instead of this "weak" government of the people, for the people and by the people.

As they say, "Democracy is the WORST kind of government in the world.. right after all the other kinds."

Sara.

You got it girl.
I would much rather have Saddam than the current scenario. Dinar value loves stability. Iraq today is not stable. Someone needs to take the lead and rule.

i think i smell a dinar killer here.why would you waste time posting here if all you want to do is disentergrate the dreams of the rest of us.i suspect a willy in the woodpile .i also wish you could have saddam ,that murderous prick, where the sun doesent shine.alot of good men died to make it possible for that monster to be jailed.he is right where he belongs.

uhm.....
wonder why the US is keeping Saddam alive??
Perhaps GW doesnt have faith in the Iraqi leaders?
Perhaps as a poison pill put Saddam back in power if Iraq totally collapses? Or if an Islamic theocracy takes over?
Why is Saddam still alive???
His wife and daughters living good the good life in Jordan with billions of US dollars (not Iraqi dinar)!

"Although Saddam is known to have secreted millions of dollars in bank accounts in neighbouring countries, including Jordan, before the war, the bill for Raghad's extravagant life in Amman is being footed by her hosts - to the irritation of many Jordanians, and the anger of Iraqi exiles."
http://www.rense.com/general53/ecxhile.htm

Fellow Dinar board members;

Do you think that it might be best if we all just ignored the adversarial posts and continued in constructive posting instead?

Sara

"Nothing good can become of this tired conversation".

Let me sum it up. Al' if we don't make money on our investment in 3-5 yrs please come back and post all you want. P.S. in 2010 I would have long forgotten about you!.

Cheers,

Angel;

Where did you find the info on Coke?

I think that it's great, and is the beginning of a very productive trend forward of corporations moving in and creating value as well as jobs in Iraq.

These are the sort of things that will bring dreams to reality.

Sara.

I have to agree

HI ALL
I ALSO THINK THAT WE SHOULD ALL NOT EVEN WASTE OUR TIME TO RESPOND TO THE DOWNERS.I FALL BACK TO THE POST OF CARL,LET THEM BREATH,EAT,SLEEP,AND LIVE IN THE ??????????????????????????????????????
GOOD LUCK TO ALL RON

There is NO future in the Iraqi dinar. The only people making $$$ on the dinar are the sellers. Go ahead and wait 10 years, still no value for the dinars. Better to invest in real estate in Iraq, but wait, you must be an Iraqi citizen to own real estate! Iraq is not going to allow a bunch of foreigners to gobble up their country.

Personally, I bought my dinars not as an investment, but as a "just in case" scenario.

As a gamble with money I can afford to lose.

I could forgive myself if this turns out to be a bust, and I lose a few hundred dollars.

However, if it "hits" and hits big, and I didn't get in....

I would fall into a depression state of mind that would either kill me , or I'd kill myself.

Personally, I bought my dinars not as an investment, but as a "just in case" scenario.

As a gamble with money I can afford to lose.

I could forgive myself if this turns out to be a bust, and I lose a few hundred dollars.

However, if it "hits" and hits big, and I didn't get in....

I would fall into a depression state of mind that would either kill me , or I'd kill myself.

Personally, I bought my dinars not as an investment, but as a "just in case" scenario.

As a gamble with money I can afford to lose.

I could forgive myself if this turns out to be a bust, and I lose a few hundred dollars.

However, if it "hits" and hits big, and I didn't get in....

I would fall into a depression state of mind that would either kill me , or I'd kill myself.

Personally, I bought my dinars not as an investment, but as a "just in case" scenario.

As a gamble with money I can afford to lose.

I could forgive myself if this turns out to be a bust, and I lose a few hundred dollars.

However, if it "hits" and hits big, and I didn't get in....

I would fall into a depression state of mind that would either kill me , or I'd kill myself.

Personally, I bought my dinars not as an investment, but as a "just in case" scenario.

As a gamble with money I can afford to lose.

I could forgive myself if this turns out to be a bust, and I lose a few hundred dollars.

However, if it "hits" and hits big, and I didn't get in....

I would fall into a depression state of mind that would either kill me , or I'd kill myself.

PART TWO
CONTINUATION OF THE GCC CURRENCY UNION AND ITS INFLUENCE ON THE IRAGI DINAR. IF YOU HAVE NOT READ PART ONE, PLEASE DO SO BEFORE READING PART 2.
THE CURRENCY REGION
OCA is a region for which it is best to have your own currency and monetary policy. Therefore you can interchange monetary and currency union with OCA.
To have a currency union you must have:

Monetary integration which is a irrevocable fixing of the exchange rates. The existing currencies will be fully convertible into the currency union, and all financial markets of the region will participate in the currency union.
A single currency for the region.
A common central bank controling the foreign exchange reserves.
Established administrative guidelines for the union.
THE ADVANTAGES OF THE CURRENCY UNION
1. It allows exchange rates to be fixed.
2. It reduces exchange rate uncertainty that hampers foreign investments and trade.
3. It eliminates multiple exchange rates cost, that are associated with conversion. Some of these cost are :
The cost to monitor exchange rate fluctuations.
The cost to publish this information and track.
The cost to predict exchange rate movements.
The cost of conversion itself.
The cost to keep and manage reserves for intra-regional trade.
It frees idle reserves, and enhances the role of the single currency as means of payment for goods and labor.
It reduces the ability of speculators to deliberately affect the currency market prices.
It also reinforces discipline and credibility of the currency.
The currency union will with certainity instigate expansion of bilateral trade among the participating countries.
THERE ARE SOME THINGS THE PARTICIPATING COUNTRIES MUST ADJUST TOO.
They no longer have independency of their own monetary exchange rate policies.
Interest rates are now tied to foreign interest rates, and any increase in money stock will result in a balance of payment deficits. These instruments are used in economic arrangements as stablizers in each country. They are now giving these up.
Once the country enters into the currency agreement, it is almost impossible and extremely difficult to exit or break the rules of the OCA countries.
Countries can't just decide they are going to do this and start a single currency. There are some guidelines which when reviewed gives an indication of whether these countries are suitable for this endeavor.
OPENNESS
A small country that dependents on international trade is more likely to be affected by exchange rate fluctuations and uncertainty, since a large amount of its goods are tradables.
Therefore, it is easier for a small country with an open economy to into a curreny union.
The GCC countries are considered to be the most open economies in the Arab region. This openness is measured by the ratio of trade to the Gross Domestic Product. The ratio's of the openness rating for each country varies, but all are considered within the guidelines.
FACTOR MOBILITY
If two countries are highly integrated in the sense that labor and capital can freely move from one country to another, there will be less likely, when they go to a single currency to be affected. Countries with more factor of mobility are better candidates for currency unions.
Articles of the Unified Economic Agreement signed between the GCC countries allow for the free movement of capital, and individuals across the borders, and are given freedom to excercise economic activities within those borders.
There is a problem here. Some of the GCC countries still impose restrictions on their labor markets and ownership. Because the labor markets are not similar, this barrier will have to be removed before the currency is put into effect.
DEGREE OF COMMONDITY DIVERSIFICATION
If an economy is diversified, it is better insulated against terms of trade and other affects that will be felt when the single currency goes into effect.
The GCC countries depend very heavly on oil for their economies. On an average exports of oil represent 80% of their budget revenues.Even the non-oil sectors depend to a large extent on the performance of the oil sector.These sectors orginates mainly from trade and business services.
As a result, the GCC countries remain vulnerble to the fluctuations of oil prices in the international market.Despite this, the GCC countries made it impossible for any one country to adjust the currency because of adverse oil markets.
SIMILARITY OF PRODUCTION STRUCTURE
Countries that share common production structures are better candidates for the currency union.
GCC countries have in general the same production structures with a dominant oil sector, and lesser non-oil sectors.These non-oil sectors are mainly trade, financial and business services.
PRICE AND WAGE FLEXIBILITY
Countries with flexible prices and wages are more inclined to work well with a single currency structure. The GCC countries do have limited flexibility of prices and wages. However, this limit restriction is not enough to disqualify these GCC countries from over coming the barrier and entering into a single currency.
SIMILARITY OF INFLATION RATES
This signals similarity in structure and in the conduct of economic policies. This is desirable for countries wanting to enter into a currency union.
The GCC countries are not inflation prone.However, the inflation rates are pro-cyclical during oil price hikes and decreasing during periods of oil price slumps.
DEGREE OF POLICY INTEGRATION
The Attitudes of the GCC countries must be in align with each other.Their policy making coordination is required to achieve success.
The GCC countries have removed many barriers to create a common market and free trade area.They have put aside their own polices to adopt the regions polices without hesitation, and are still in the process of removing any existing barrier that would prevent a single currency.
POLITICAL FACTORS
Most of all, it all boils down to their willingness to work together and get the single currency program working. Experience has shown in the past, that poltical resolve is more important than the economic criteia. The GCC countries are more competed than ever to this regional grouping. They have similarity in their political, social, demographics and cultural structures. They have incurred setbacks, however, this has not dampened their cooperation, and if any thing else has strengthen it.They have been praised for taking a pragmatic approach and doing it right the first time.
END OF PART TWO

hey all,

carl- love the info keep it coming.

all the dinar busters- what we have here is not a bunch of drooling idiots talking about pipe dreams. what we do have is investors sharing information they glean from all the sources and wishing well to the others. we know it may not pay off but if it does we'll be laughing all the way to the bank while you all call a plumber to try and find the dinars you wiped with. oh and you might be able to steam off the wallpaper glue when the time comes.
sara, sporter, carl, bill and i will be waiting for you to talk trash then.

It will hurt all that much more that your NID's will be worhtless when you read things like this!

The NID is a ROYAL SCAM

Iraqi Stock Exchange trading on a promise Market volume soars since Saddam era
Apr 20 2005 Though barely over 30, Ahmad Walid al-Said already has become the biggest of the hotshots on the noisy floor of the Iraqi Stock Exchange. As head broker at al-Fawz Company, one of the country's most respected brokerages, and chairman of the Iraqi Association of Securities, he sleeps, drinks and eats the stock market, even when he's not roaming the floor and putting through orders. Read

Hey all,

Just wanted to say howdy to all of the GANG. Sorry that I was unable to get with you all yesterday. But, it looks like you all are still putting out GREAT posts.

CARL: That was an AWESOME post on the GCC. That is really lots of GOOD "meat" to digest.

It is good to have you on board, ANGEL.

I agree with you totally, GUY INCOGNITO.

And, to the rest of the GANG: Just keep posting all those informative posts. I enjoy reading and learning from each and every one.

Sara,
That was a little inside info.

I still see no useful information here or anywhere else regarding the Iraqi dinars success. Hopes, dreams, desires, that is all you have. Anyone investing in the new Turkish lira?

CARL
ANOTHER GREAT POST,KEEP THEM COMEING.
TO THE BASHERS.I READ ALOT MORE ON THE POSITIVE IN THE NEWS ALL OVER THE WORLD,THAN THE NEGITIVE.
WHAT EVER YOUR NAME IS,,,,,,,,YOU HAVE MOUTHED OFF ENOUGH TODAY TO FUEL YOU UP SO YOU CAN SERVIVE A FEW MORE HOURS ON TRASH AND UNCERTAINTY.NOW GO HIDE AND WAIT FOR DARK SO YOU CAN SNEAK OUT LIKE A THEIF,TO ROB,STEAL,AND MURDER THE DREAMS OF REAL PEOPLE.
GOOD LUCK TO THE CREW RON

Thanks, Angel.. I wondered.
I also have a little inside info, but I cannot share it. It would make you smile. :)

Keep the faith.

I appreciate your posts, Carl, and I also appreciate all of you on the Dinar train, Robert, Bill, Guy, Sporter, Michael, Dean, Ron, etc... there are so many good, positive posters on the Dinar train.. I am not kidding when I say it will be hard for us not to gloat one day.

Sara.

More Than 50 Bodies Found in Iraq River
http://news.yahoo.com/news?tmpl=story&u=/ap/20050420/ap_on_re_mi_ea/iraq

Iraqis: 19 Bodies Left in Soccer Stadium
http://story.news.yahoo.com/news?tmpl=story&u=/ap/20050420/ap_on_re_mi_ea/iraq_bodies&cid=540&ncid=1480

Violence rages as parties seek breakthrough on Iraq government
http://story.news.yahoo.com/news?tmpl=story&u=/afp/20050420/wl_mideast_afp/iraq_050420140826&e=1

Sure the iraqi dinar will flurish like the red blood which was flowing down the Tigris this morning. SCHMUCKS

They are paying for their freedom in blood..
like we paid for ours.

The freedom we have..
did not come easy.

It cost us blood, too.

We don't forget that sacrifice.
They won't either.

It will be a sweet, but bitter, victory.
Just as ours is.

Only blood can set free.
ALL Freedom is never cheap.

Blood is the price to be paid,
whether it purchases man's temporal freedom,
or eternal.

Sara.

WE CAN GET AL YAHUD TO BE OUR BEER BOY ON THE TRAIN, I LIKE BUD AL, TOMMY

Tommy: Good post Tommy, but if you don't mind order me a Bepsi err..., I mean Pepsi. I hear it is selling pretty cheap right now
in Iraq.

Sara: Good post, too. Keep 'em coming.

GCC Plans Joint Stock Market
Arab News - 20/04/2005

JEDDAH, 20 April 2005 — The GCC held a meeting in Riyadh yesterday which is considered to be the first step toward establishing a joint stock market for GCC countries and a joint bonds market. The meeting to discuss the preliminary results of a study on development of the financial markets of GCC by Mackenzie Consulting was opened by GCC Secretary-General Abdul Rahman Al-Attiya at the GCC headquarters here.

Dr. Abdul Aziz Al-Oaishek, director of the economic administration at the General Secretariat of the GCC, said:"It is the first meeting for negotiating, exchanging opinions and coordinating between the Gulf markets' rules and regulations." The goal is not necessarily to have one market but to unify the procedures and make the rules and regulations as comparable as possible.

The consulting company gave a presentation of a similar experience of small stock markets, as is the case with the Gulf stock markets, coordinating their markets and that is of the Scandinavian countries. "It is difficult to consolidate financial markets with each having its own mechanisms, so we are looking at complimentary procedures and rules," said Al-Oaishek.

Attending the meeting were the CEO of Gulf Investment Organization, members of the monetary union committee, presidents of the GCC financial markets, financial markets monitoring agents, financial market experts, and the consulting company's study team.

Also participating were the joint committee members formed for this purpose by the Gulf Investment Organization and the General Secretariat of the GCC.

The study was commissioned by the economic and financial cooperation committee at the GCC to study ways of developing the market and the feasibility of establishing a joint stock market. This comes upon a directive by the High Council of the GCC to implement the points made at the recommendation document presented by Crown Prince Abdullah at the Doha summit. The document pressed for reforms and ways of activating Gulf companies and developing them by encouraging competition and financially supporting the markets to make them more dynamic.

The Gulf countries are seeking to ease the procedures for Gulf investors to enter their stock markets.

http://menafn.com/qn_news_story_s.asp?StoryId=88756

Banking Door Ajar
Kuwait, Volume 14
19.04.2005

With such heavyweights as BNP Paribas, the National Bank of Abu Dhabi (NBAD) and HSBC recently acquiring local licences, Kuwaiti bankers will face an extra dose of competitive pressure in the coming years.

Yet it remains a dose rather than the full injection, as only single branch licences for the newcomers are being issued by the Central Bank of Kuwait (CBK). Whilst this is unlikely to stop the likes of Citibank and Standard Chartered joining the club of foreign entrants soon, it does underline the caution with which the CBK is opening up the market. Kuwaiti banking authorities know full well that foreign banks have no incentive to invest in retail banking if they are unable to develop a branch network.

But the bait that dangles before the noses of foreign banking executives is tempting enough, irrespective of the single branch restriction. Expanding and consolidating a banking presence in the Gulf is an obvious though important consideration for international players whose clients - whether private, corporate or institutional - operate throughout the Gulf Cooperation Council (GCC) region. Equally, sitting on the doorstep of Iraq offers its own set of advantages, with the reconstruction process promising some exciting finance opportunities in the future.

Selective targeting is thus the name of the game for foreign entrants.

http://www.oxfordbusinessgroup.com/weekly01.asp?id=1319

Al -
I think we should formulate a correlation between the number of bodies found and iqd/usd ratio. I'm going to work on an algorithm.

Next thing you know the NID pumper sites will be talking about soylent green scenario. Now THERE'S a positive spin!

Keep filling those shoe boxes though. All it takes is dinar and a dream.

Dream on ...

Anonymous tipsters boost forces' security intelligence
04/19/2005 - Updated 09:09 PM ET
By Elliot Blair Smith
USA TODAY

CAMP LIBERTY, Iraq — U.S. and Iraqi security forces say they are gaining ground on insurgents and criminals because more Iraqis are phoning tips to a hotline set up in October.

The hotline, known as the Joint Operating Center, has fielded about 1,100 calls in six months, dramatically improving street-level intelligence, says Army Sgt. Major Jerry Craig, a military policeman who oversees the call center.

Most of the tips have come from anonymous tipsters.

“Not only have the calls increased, the calls that give us actionable intelligence have increased, and our success rate has improved,” Craig says. He calls the raids potential turning points in the drive against insurgents.

“Time is in our favor,” he says. “We are improving our security, police and military. I assure you, the conflict will end in our favor.”

http://www.usatoday.com/printedition/news/20050420/a_iraqintel20.art.htm

Sara,

Good facts!! Keep up the good work. You sure do know how to go out and do the research. You go, girl!! Isn't it great to be alive?

Sara

What do you do for a living.You dont have to answer that I was just wondering.You seem to be very bright.You said your inside info will make me smile,how big.You know this is realy going to eat me up not knowing.You know that dont ya.

Excellent Research today Sara, good job:)

Michael

This might be a silly question but why are our gas prices so high.Does this have anything to do with Iraq's oil lines being destroyed?

Angle, I believe that the high gas prices have a lot to do with the fact that it has been many years since a new refinery was built in this country. From what I hear they are trying to get approval for one on close to the California border but the NIMBY people are having fits and doing everything they can to stop it.

Angel, they say that there is a shortage of oil because of a heavy growth demand from China. I think the US is trying to stock oil now, so I guess that raises prices too. I am like you, the oil droped around $7.00 last week, but the gas here only droped a few pennies yesterday.. It seem Iraq would be trying even harder to cash in on the need for oil now more than ever...

Michael

I know one thing if the high gas prices dont stop I am never going to be able to purchase more NID and hit my goal.Specialy since ebay and other online NID vendors charges twice as much then they are actualy worth right now.Which should be against the law.

If it is against the law for a bank to exchange currency at a high exchange rate than stated than it should also be against the law for online vendors to do so.Even though they are not a bank they are acting like one by exchanging NID for USD.

Michael and Angel,

The gas price drop was about the same as where I live (a few pennies). It seems like they announce a gas increase on TV and the gas stations are putting up new signs before the TV report is over. But, when the prices go down, it seems to take forever to get the cheaper prices at the pump. It looks like the relatively higher prices will be here for awhile. It's not good for our economy, but it is good for Iraq to be able to get the extra revenue from the higher price per barrel of oil. Here's hoping that they can open the Iraqi oil spigot, and pull in more of those yankee greenbacks in Iraq.

Hey Guys and Gals,

I may not post everyday, but you can bet Big Brother is always watching...

Lately, it seems that a certain group of "Nay Sayers" are commanding a lot of attention here at the site.

I've been reading their debating type comments over the last few days, and the negative rhetoric they expound seems to be infinite.

To them, the sky is never blue enough, the birds never sing as sweet as they once did, blah-blah-blah-blah-blah.

Soooo, to the pathetic bunch of them I simply say the following:

Pessimists (meaning you) have been the heavy yoke of counter productivity, around the neck's of optimists, since the beginning of time.

The people that find there way into this site to do nothing more than whine, complain, and try and bring us down to their level, aren't worth the keystrokes it takes to address their trite remarks. (...but hey, they're virtually free, so why not?...)

These Neo Neanderthals are nothing more than a bunch of Monday Morning Quarterbacks touting 20/20 hindsight, standing around the water cooler of life, explaining to anyone who'll listen to them; how, "if they were in charge, we'd all be that much better off.".

"Nay-Sayers", the situation in Iraq is people driven - plain and simple. They are NOW the masters of their destiny. They will either do good by one another, or they will do bad. The choice they make, and the responsibility that comes with it, is now theirs - and theirs alone.

And, for those of us keeping score... it'll be the OPTIMISTS within Iraq - the positive thinking people, willing to roll-up their sleeves and make right what has been wrong for so long in Iraq - that will gladly bear the burden of bringing Iraq into the 21 Century - democratically.

Merely throwing money at a problem never resolved anything. Change (sustainable change - not temporary change) must first take place within the individual, not externally within the environment. That fact has been proven over, and over, and over again - it's pretty much carved in stone.

Iraq doesn't need another auotcrat, that's how they got where they are in the first place. Simply put: Power corrupts people - no one is immune to it.

That comment of yours really brought you into crystal clear focus Mr. Yahud. People like you, that think the way you do, are part of THE PROBLEM, not part of the solution.

It's people like you - people of inferior ethical character - that will surely slow the process of Iraq rebuilding itself.

I take the liberty of speaking for many here at the T&B when I say that, "Not you, or a butt-load of folks like you, have what it takes to shake our faith in the good people of Iraq, the rebuilding of Iraq, or in our investment in the Iraqi economy.".

This train, "The Dinar Train", is a fast moving train [with only enough seating available for Optimistic Minded passengers] - you either make an attitude adjustment and get on board, or you get run over.

Cheers All,

Bill

(Please keep up the great research, and postings too.)

Iraq May Name Government on Thursday
http://story.news.yahoo.com/news?tmpl=story&cid=574&ncid=574&e=1&u=/nm/20050420/wl_nm/iraq_bomb_dc_8

Why is everyone so down on pessimists? I mean the poor folks probably already suffering b/c everything is so gloomy, and nothing ever works out right, it must really suck. And then all you folks put them down and damage their already fragile self-esteem and make them even gloomier.

Anyway what is optimism without pessimism to compare it to? If everyone was happy, how would we know?

Can't have Yin without Yang. Mix black and white, you get gray. Gray is uninteresting. Polarities, dynamically opposed forces, are what gets all the work done.

jmho

Iraq's Sunni Arabs face dilemma
By Dhiya Rasan and Steve Negus
Last updated: April 19 2005 00:48

Last Friday, two of the main mosques in Ramadi delivered conflicting sermons.

One called for a halt to the violence that has wracked this western Iraqi town for nearly two years.

The other demanded ceaseless resistance against the “atheist American occupiers”

The split between the mosques mirrors a debate throughout Ramadi, and among Sunni Arabs in general, over whether or not to support continued armed resistance against the US armed forces.

On the national level, the dispute is mainly over to what extent Sunnis should participate in the political system.

Should they join the Iraqi government's army and police, and should they prepare to take part in drafting the constitution even if the country is under occupation?

Here, the question is more immediate how to stop the armed clashes, security cordons, mass arrests, and other facets of a war that has paralysed normal life.

Few in this heartland of Sunni religious conservatism dispute that it is Islamically legitimate to fight a foreign occupying force.

But many say the time is right to negotiate an end to the violence.

While local officials and tribal sheikhs have been coming up with peace plans almost from the beginning of the insurgency, those proposals have gathered strength since the January 30 elections.

However, convincing the guerrillas and their supporters is proving difficult.

The political atmosphere is considerably less tense than it was in the autumn, when guerrillas rose up in support of their embattled compatriots in the nearby town of Falluja.

http://news.ft.com/cms/s/68f07c30-b055-11d9-ab98-00000e2511c8.html

JB
You made me laugh
thanks

Bill: Here comes a high five over the internet.
Good job, my fellow dinarian (someone who is a dinar holder)

I heard on the news the other day that a cynic or pessimistic person had an additional 30% chance of acquiring dementia before old age. Let's all keep our heads up, and our fingers typing on the keyboard. Think positive, and wait. That is all I am going do at this point.

My investment in this Iraqi dinar has been made, and I ain't turnin' back. Like any investment, I just have to hope that, at this point, I will get a decent return on my investment. Heck! I could get a decent percent return right now for holding it for 3 months (small denomination bills). I'm not trying to sell any Iraqi dinar. Why would I want to sell what I consider a good long-term investment? I'm staying in-no matter what.

Is that the train whistle I hear in yonder hills? Gotta' go!!
CHOO! CHOO! Go Dinar!

What could be the answer to the Dinar gaining value??

I think the answer lies before us at the gas pumps. The world is in an oil panic now and just today oil prices are on the rise again. Every day that our troops stay in Iraq, it cost millions of dollars to pay for the hi-tech machinery that the Iraqi terrain is eating away. It cost millions of dollars daily to pay for security contracts and rebuilding contracts.. How do we pay for all this? The US prints more and more money which in turn brings down the value of the dollar. That sounds bad for our economy, but good for our dinar.

As the value of the dollar goes down, the value of raw non-dollar materals such as silver, gold, and of course OIL, begins to rise..

In my opinion, I beleive all governments lie about how much oil they have in stock.. If your country has a decent economy and have a big stock of oil and raw materals, you can borrow money from other nations at an outstanding intrest rate.. This could be why the US is trying to stock oil now so the government can borrow money to help pay for the war..

I have noticed from several articles that Saudi Arabia changes it's story about how much oil it has in the ground.. They actually dont know.. If a country held power because of how much oil it has "Saudi Arabia 1/4 of all known oil" would that country tell the world how much oil it actually has. In my opinion, Saudi Arabia may be running low on oil and may stop pumping all together within ten years. Why will this affect the dinar? Which country has billions in oil, and even has land thought to hold oil yet to be explored. Yes That little country Iraq, and we all hold millions in their money.

The fact is that oil keeps rising and some economist think it could go over $100.00 a barrel in ten years. If the Saudi's are covering up the fact that they are running low of oil, then we are sitting on a gold mine.. We are all thinking that we are investing in the democracy of iraq, but we all may be investing on the Saudi oil going off line. If this were to happen, it won't matter about the insurgency or violence in Iraq anymore, as long as Iraq can keep those oil lines flowing their economy and dinar will skyrocket..

Just my opinion, but it could happen.. Why don't the Saidi's tell how much oil they have? running low?

Michael

Expert: Saudi oil may have peaked
By Adam Porter in Perpignan, France

Sunday 20 February 2005, 10:58 Makka Time, 7:58 GMT

The Saudi Arabian oilfield al-Qatif east of Riyadh

Related:
Saudi bid to boost oil output fails
Opec to hike oil output
Saudi ups oil output to curb prices

As oil prices remain above $45 a barrel, a major market mover has cast a worrying future prediction.

Energy investment banker Matthew Simmons, of Simmons & Co International, has been outspoken in his warnings about peak oil before. His new statement is his strongest yet, "we may have already passed peak oil".

The subject of peak oil, the point at which the world's finite supply of oil begins to decline, is a hot topic in the industry.

Arguments are commonplace over whether it will happen at all, when it will happen or whether it has already happened. Simmons, a Republican adviser to the Bush-Cheney energy plan, believes it "is the world's number one problem, far more serious than global warming".

Saudi oil peaking?

Speaking exclusively to Aljazeera, Simmons came out with a statement that, if proven true over time, could herald by far the biggest energy crisis mankind has known.

"If Saudi Arabia have damaged their fields, accidentally or not, by overproducing them, then we may have already passed peak oil. Iran has certainly peaked, there is no way on Earth they can ever get back to their production of six million barrels per day (mbpd)."

Simmons believes Iran's oil
production has also peaked

The technical term for damaging an oilfield by overproduction is rate sensitivity. In other words, if the oil is pulled out of the ground too fast, it damages the fragile geological structure of the field. This can make as much as 80% of the oil within the field unextractable. Of course, at the moment, virtually every producer is at full tilt. The most important among them is Saudi Arabia; their Gharwar field is the world's biggest.

One of the first hints that Simmons got over possible Saudi Arabian overproduction was from researching an obscure US Senate committee meeting in 1974.

Field damage

"A whistleblower in Saudi Aramco, Saudi Arabia's oil company, was first reported in The Washington Post. He had claimed that Aramco had been overproducing the giant Gharwar field and that if they did not slow down, they would damage the reservoirs.

"The committee, which swore witnesses in under oath, produced over 1400 pages of documentation on the subject, it included some specialist advice which advised cutting Saudi production to 4mbpd to maintain production levels."

Currently, at near maximum production, Saudi Arabia is producing about 9mbpd, though recently they claimed they could potentially produce 12mbpd or even as much as 20mbpd. A claim Simmons called "pie in the sky".

"The faster you pull a reservoir, the faster you pull out all of the easy-to-produce oil," explains Simmons. "What happens is that you lose massive amounts of what the oil industry calls oil-left-behind still inside the field. These issues, as you can see, have been known about for years."

Overproduction

"If you look at what Iran is doing, they are actually going to inject natural gas to the tune of 2bcf (billion cubic feet), through a 72in pipe into their Aghajari oilfield. It is a $2bn project. This is in order just to boost production from 200,000bpd to 300,000bpd. In the 1970s Aghajari was producing 1mbpd. It has been overproduced."

In 2004 Shell said it had lost 20%
of its reserves

Simmons also says the same thing happened with the oil company El Paso last year.

"At the same time as the Shell write-off, El Paso realised they had been producing their fields too hard. As a result they had to write off 41% of their reserves." In 2004 Shell first announced it had lost about 20% of its oil reserves.

Another clue came as Simmons discovered a ferocious debate that had been going on inside Saudi Aramco about overproduction.

"The company claimed in the early 1970s that it would be able to produce 20 to 25 mbpd, then by 1978 it was 12mbpd. Now it looks like 9.8mbpd is the maximum," he says.

Precious resource

"Luckily for them, demand quietened down in the 1980s. People thought when they cut production that they were simply trying to drive up oil prices, but in fact they were resting their fields to limit the damage.

"But then came the first Gulf war and they were forced to crank production up again and they have been fighting the problem ever since.

"In 1981 in their own book, Aramco and its World, something they give out to new employees and such, they openly talked about how maximising production would permanently harm their fields and that maximum production could not continue. They thought demand would fall and the fields would be sustained. Unfortunately that has not been the case."

The reasons for maximising production are not always obvious, they can be technical, but also geo-political.

"There is always a balance for producers. Do you want to conserve your fields and produce slowly? Or do you want to be a statesman? Would you rather be a market leader with all that brings, or a smaller, less powerful producer?"

The idea that Saudi Arabia could force its production up to 12mbpd or higher is met with scorn by Simmons.

"This is dangerous stuff," warns Simmons. "If we say they have not peaked and then they choose to further increase production, they will only hasten their field decline, and waste huge amounts of valuable oil into the bargain. And oil, as we are only now coming to realise, is the world's most precious resource."

Sporter, If this true, then the Saudi's may have already peaked their oil fields yrs ago, and the damage in irreversable.. This could prove that my theory of the Saudi's cutting off or cutting way back on oil out put, may indeed become reality.. All I know is the Saudi's refuse to tell the truth about their oil and stick to it.. If they are running low on oil or will in the next few yrs, then the furure of Iraq is going to be unbeleiveable. Every country in the world will be handing money to Iraq hand over fist to get there hands on that precious oil.
Thanks sporter for the post.
Michael

sporter4551,
Great post.I agree.Nothing last forever.And everything has an ending.

If that is true then that is so sad realy.

Sportster
Very interesting post regarding the oil fields of Saudi Arabia. You will see why I say this in my next post regarding the GCC Currency Union.

PART THREE
CONTINUTATION OF THE GCC CURRENCY UNION AND IT AFFECT ON THE IRAQI DINAR
The entire purpose of this little excercise regarding the GCC Currency union, was to allow you, the dinar investor to observe the areas, the GCC countries had to consider when deciding whether they were even qualified to do the single currency or not.
From a small initial meeting in 1976 when 6 Arab countries plus Iraq and Iran were called together to the actual formation of the GCC, and who they are today, as been very short, when compared to the development of the european nations, when they were deciding whether to create the Euro Dollar.
The European countries had totally different circumstances. Therefore, it would be difficult to compare the two single currencies, and how they developed. you can use the knowledge of these 3 parts to see what criteria, the GCC countries are either meeting or attempting to meet, in order that the single currency become a reality. It will be like watching stones being put in place, in order to go to the next level.
DETERMINING THE VALUE OF THE NEW CURRENCY UNION.
The real exchange rate series is done by using two alternative base countries. The obvious base country according to a GCC Currency Union Study is the Kingdom of Saudi Arabia (KSA). This is because of its major economic importance, and it may be the dominant country in forming the single currency area. The second base country is the United States of America. The reason is that the GCC has voted to tie the single currency to the dollar, and Saudi Arabia's strong political connection to the USA.
During the past 20 years GCC currencies have fluctuated only moderately given their close relationship to the US dollar. There is also a striking similarity of the variation in the nominal dollar rate of the GCC countries.
Only the Kuwaiti Dinar has fluctuated. Despite this apparent stability of the GCC exchange rates, the formula studies show the GCC nominal rates are not locked in, and in fact non-stationary.
If Saudi Arabia, is used as the dominant currency country,as the research material indicates, then for your information the The Saudi Riyal currency is presently set at 1 USD = 3.75 Saudi Riyal.
Now does this mean that every GCC countries single currency will be exchanged at this ratio into the "GCC Currency Union"?
I don't think there is any definative answer to this, as of this date.
But the study does give us some indication of how the exchange ratio will be set.
In order for this type of ratio to be met with Iraq, Iraq will have to be accepted into the GCC.
No decision has been made on that, by the GCC.
However, of all of the oil producing countries, Iraq has the largest land mass, has more protential to balance trade in areas of financial, agricultural, retail, export, and imports, outside of the oil sectors, than any present GCC country.
In my opinion, to not accept Iraq, once they get their government solid and established, would not make very good business sense.
The head of the Economics and Strategy at Gulf Investment Corporation, which is the leading regional financial institution that was established under the auspices of the GCC, stated, (Paraphrased) A major cloud has been lifted in the middle East. The reconstruction of Iraq is expected to lead to an inflow of capital, management skills and know-how to help strength the region.Historically, Iraq has been one of the most important centres of the Arab World. We believe Iraq has the protential for substantial agricultural production,and very large oil reserves. We believe the re-emergence of Iraq into its proper place among the regional economies will be a major driving force for years to come.
With that statement, I don't believe it leaves any doubt, that Iraq is going to be accepted in the GCC when the time is right for them to enter.
Once this happens, there will be an exchange ratio set for the Iraqi Dinar to be exchanged over a period of time, to the GCC Currency, whatever it is called.
Again, the ratio of exchange would be spectculative if I put it down as an example. So I will not. You each can come up with your ratio, given the number on the saudi currency compared to how much dinar each have.
To you with the guts and fortitude to continue on this journey not knowing the certainty of its outcome, I am proud to be riding with you on this "THUNDERING HUNK OF MASSIVE POWER", CALLED,"THE DINAR TRAIN"
FINAL ON THIS GCC CURRENCY UNION

I am new to this site-I have noticed the GCC being mentioned frequently. Could you please email me the link? Thank you

Iraq is a festering cesspool of suicide bombing insurgents. This will go on for MANY years. Your dreams of a civilized democratized country are pure fantasy.

http://www.cnn.com/2005/WORLD/meast/04/21/iraq.main/

The Realist,
No matter where you go in the world you are always going to find idiots,murders,and evil.The good will win,we always win.

TheRealist ='s Al Yahud

Nice Try

THE GCC PREPARES TO ESTABLISH THE GCC CENTRAL BANK
Remember the setting of the stones for the GCC Currency Union?
Stone 1
The GCC central bank is being prepared and presently intended to be laid in mid 2006, according to research.The bank governors also discussed the shape of the new authority, which will oversee the unified currency. Prior recommendations, recommended a model where monetary policy is set by the central bank, with national banks retaining some supervisory and other functions.In order to finalize the guidelines,some sensitive sovereignty issues will need to be honed in future meetings. They are looking at the Central Bank to more in line with the European Central Bank which controls the Euro. They almost reached an agreement in March, however, they needed to know more about the responsibilities, jobs and functions of the bank. The UAE stated, the present plans are to float the new currency soon after its launch.
Stone 2
Gulf Arab Bankers have now agreed in a recent meeting to keep the government debt below 60 percent of the GCC GDP. Saudi Arabia who had a debt ratio of 119% 5 years ago, has, as the "central GCC country", accordingly cut their debt ratio to 66% to meet the guidelines. They are now just above the level agreed on this month of 60%.
Stone 3
The GCC has now set the limits on inflation, interest rates, foreign reserves and budget deficits. They have not reached a final decision on what will be the guidelines of power allotted to the new regional central bank.
Stone 4
The GCC has now come to an agreement, their combined interest rates should be no more than the average of the lowest 3 GCC countries, plus 2%.
Stone 5
The GCC just reached an agreement, their budget deficits will be the same as the European Union which controls the Euro. It is fixed at a rate of 3% of the GDP.
Stone 6
The GCC has now set the guidelines for foreign reserves. Foreign reserves should cover at a min of 4-6 months of imports. These guidelines will require a final vote in the May meeting of 2005.

Great posts Guys, on oil production and the GCC.

It's got me thinking as to how to possibly handle / protect my dinar investment.

Carl posted very good info some time ago about which banks do what, who they do & do not report to, etc, etc. He talked about banks within the GCC union of countries, and Canadian Banks as well.

If you all can remember the post I'm speaking of, banks in Canada, and in the Middle East, do not report to any outside agencies and do not share their records with anyone - they consider it proprietary information.

Where I was once planning to go to the Grand Cayman Islands to put my dinar into an account there, now I'm leaning toward going to Canada. It's probably easier to bring the dinar into their country crossing our Northern Boarder anyway.

(Just call it an extension of NAFTA)

Once in a Canadian Bank, I can then transfer my dinar into an account in a Kuwaiti bank, and from there I should be on easy street; especially, since Kuwait is a long-standing member of the GCC.

Then, once the GCC establishes the unified currency in 2010, or whenever (to include Iraq as a member nation), my Iraqi Dinar account should automatically be converted over to the new GCC currency.

Unless I've missed something this plan is doable.

And, the sooner I do this, the more peace of mind I'll have; especially, as all the rumors of "this and that" continue to fly. So for me, it's out with Plan A, and in with Plan B. I do still plan to go to the Grand Cayman Islands, but rather than for business purposes, the trip will be for pure pleasure.

Cheers,

Bill

HI ALL
WHAT GREAT POST FROM ALL OF YOU TODAY.MY HAT IS OFF TO ALL OF YOU "THE DINAR GANG" FOR ALL THE WORK YOU DO.KEEP THE DINAR TRAIN RUNNING RON

Better to invest in SAMs in Iraq than the dinar. Iraqis love SAMs.
http://news.yahoo.com/news?tmpl=story&e=1&u=/ap/20050421/ap_on_re_mi_ea/iraq&sid=84439559

Dinar Dreamers -
Dream on:

Helicopter 'downed' near Baghdad
A civilian helicopter comes down near Baghdad, killing nine people, amid a wave of attacks on contractors.

Who the hell would want to do business in this hell-hole?!

http://news.bbc.co.uk/

al yahud translates as "the jew" in case anyone was wondering. geez, what a buttock.

It's Not Behavioral Science..

Al Yahud/Realist/Lacey, etc;

I understand that when we examine animal groups we can indeed say with certainty that they can or cannot do certain behaviors. The Behavioral Sciences are useful for this. However, when you apply this kind of thinking to races or groups of human beings, it smacks of intolerant racism. People who do this are looking down on the people they speak of, and judging them as being totally incapable of change or progress.

When you say, "Iraq is a festering cesspool of suicide bombing insurgents. This will go on for MANY years. Your dreams of a civilized democratized country are pure fantasy." You are thus labelling ALL the people within the insurgency as being incapable of civilized, democratized behavior. You say that they are incapable of changing direction, and, like an animal in a science experiment, they will reliably continue to do the same behavior without fail. I think that the insurgents are capable of higher thinking than an animal, whose behaviors are dictated by passion and single thought reasoning, so much so that they are capable of higher ordered, civilized, democratized behavior, so long as they see it as meeting their interests, which I think it can.

For instance, one of their goals is for the US to leave their country as fast as possible. One has to wonder what their reasoning is when they then increase their attacks and make Iraq so insecure that the US feels it must STAY to stabilize the country. If they would step back and let the US stabilize the country, and LEAVE, they could deal with their Islamic brothers in power who have shown themselves to be negotiable and open to helping them toward a peaceful resolution of their differences.

Your saying that 'the idea of peace being the answer for the insurgents is sheer fantasy' smacks of the simplicity of racist behavioral science being applied to men, and these are men, not animals. Their behavior is not set in stone. They are not incapable of dialog, negotiation and change. I still think they have the ability to be rational and negotiable, and their behaviors are not just dictated by their passions, like animal behavior is. They are of the HUMAN race, and therefore, human progress is definitely possible and not a fantasy.

I think it is just such simplistic beliefs that make wars drag on and on.. while people think the other side "barbarians" and incapable of seeing reason. Eventually, in any war, there comes a point where hostilities cease. That point is where men show themselves above the level of animals. It will happen again with these insurgents as it always has in human history.

The native American Indians, the Japanese, the Germans.. were all once seen as equally incapable of being civilized, democratic people. When the Indians were scalping white men, or the SS were taking Jews to the ovens, one had to wonder if you had said of them, "Your dreams of a civilized democratized country are pure fantasy", if most people would not have wondered if you were correct. But history repeats itself.. it will show you wrong, as it already has. This is nothing new. Mankind's hopes will win, and the forces of good will triumph over the evil.

Ecc 1:9-10 The thing that has been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun. Is there any thing whereof it may be said, See, this is new? it has been already of old time, which was before us.

Sara.

Lacey;

You asked, "Who the hell would want to do business in this hell-hole?!"

I think that when the Indians were scalping white men and raiding their farms.. you could have asked the same question of the fur traders. But, tell me, in time, did North America prosper?

Sara.

Al Yahud, Lacey, Realist, and others (you know who you are)

You all crack me up. There is absolutely nothing that convinces any of us that this is a done deal, yet some of us are willing to take the risk.

What exactly are you trying to accomplish by coming to this forum and flinging your poo around? None of us are hurting you by buying up Dinars are we? If we are cluess, a card short of a full deck, have the brain a size of a peanut, what's it to you? Are you trying to save us from ourselves? I seriously don't understand your agenda.

You all remind me of bitter atheists. Why do you spend so much time trying to refute something you obviously don't believe in? I don't believe in Leprechauns (sp?) or Gnomes, yet I won't go on a forum and blast people who do. If they want to believe in it, it's their right. I don't believe in Santa Claus either, but the same principle applies.

Sara made a pretty good suggestion the other day that has so far gone unheeded. Folks, just ignore these people. Let's not give them the satisfaction of knowing they get under our skin. This will require great self-control, but please try.

Dave A

A successful person is one who can lay a firm foundation with the bricks that others throw at him or her.
~David Brinkley~

Sometimes, silence can appear to say that a viewpoint is too weak to answer.

Prov 18:17 The first one to plead his cause seems right, Until his neighbor comes and examines him.

Sometimes, it is wrong to let an argument stand, when it is not so obviously foolish that anyone viewing it would discount it. In those cases, I think it only right to answer a fool.

Pro 26:5 Answer a fool according to his folly, lest he be wise in his own conceit.

Sara.

Right again Sara. I stand corrected.

I believ in Santa Clause!

Great Sara.

THE PUPPET MASTER SMILED WITH DELIGHT AS THE PUPPET DANCED WITHOUT REGARD TO THE EVERY MOVE OF HIS FINGERS ON THE STRING.
To let stand "Sincere" foolish arguments, is one thing. To respond to insincere post, by fictious writers, whose only purpose is to instill anger, or get someone upset with their childish mind game is another.
The writer who is doing this wants you to respond back. That is the thrill...the writer is not interested in your opinion or even believing in their post.
It is garbage in and garbage out for the writer. The writer gets the shivers when their fingers move,because a string was touched and you danced. That is the power the writer craves ...POWER... POWER...POWER..POWER what the writer has craved ALL their life, and no one would give it to them...now the writer believes a way has been found to get attention that has escaped them so long..
the mind control if only just for a short while is so refreshing and invigoring to the writer...Just for a few fleeting minutes the writer has total control of your thoughts...the writer made you "think about the writer" the writer has entered into your daily activity and is pleased that you took notice.
This writer uses several different names, I don't need to list them, you know which ones they are.
This writer is a vampire that feeds off of others energy, dreams, hopes and desires to improve their life.
This writer, believe it or not probably owns dinar, and the probablity is high that they do. But the writers post is not about the board, not about you, not about the dinar, not about Irag, not about America,the GCC, not about anything but
"ME ME ME ME , I I I I I I I, WHAT I WANT, WHAT I NEED, WHAT I DO"
You now know who and why this writer post as it is being done. Participate if you wish... but remember the puppet doesn't control the dance... only the puppeteer holds the strings.

Al Yahed / Realist /Lacy, etc.I just figered out what it is that you are trying to do, you think by trying to make anyone who investes in IQD is beeing stupid, that it will stop some from investing any more or not atall right! But what you dont understand is that anyone who realy checks this thing out and has found this forum has enough information to see that ones that are realy the stupid idiuts are you gays. so quit wastihg time and space with your negitive retorick, if you do have information that is good or bad and is (documented)then please post it.

Carl, Chad, with your last post, are one of you the writer? this is confusing

I think it is very low of you to post under Carl's name, whoever you are.

Sara.

As for the content of your post, you false Carl, you do not know if you will be alive tomorrow or not. You could be hit by a truck crossing the street or die of a heart attack. All men's lives are in the hands of God alone. People like you who sow such evil wishes will be bound to have them come back to them again. (Sow and Reap them back again)

Sara.

And now a false post under the name Angel.. well, we know you are not one of those...

Sara.

And my name, too.. well, we know better.

Sara.

What the crap is going on here?

Please everyone stop giving this ideot attention and he will go away..

michael

micheal:
im the ideat, but your the one who thinks saudi arabia is running out of oil?

What we have here is a thief and a liar. This person is a “COWARD” stealing other people’s profiles in an attempt to create havoc. Why don’t you grow-up and get a life. Don’t you have anything better to do than to act like a little child?

What does the Bible say about lying? A lying tongue is not only something God hates, it is also something that is an abomination to Him.

Proverbs 6:16-19 says, 16 There are six things which the LORD hates, seven which are an abomination to him: 17 haughty eyes, a lying tongue, and hands that shed innocent blood, 18 a heart that devises wicked plans, feet that make haste to run to evil, 19 a false witness who breathes out lies, and a man who sows discord among brothers.

Revelation 21:8 - But as for the cowardly, the faithless, the polluted, as for murderers, fornicators, sorcerers, idolaters, and all liars, their lot shall be in the lake that burns with fire and sulphur, which is the second death."

What you’re doing in not going to work. People who read this forum are not as dumb as you may think. Take a look in the mirror and see whom the real immature cowardly little brat is. If you can’t take the punches as they come to you and persist to act like a GIRLY-MAN, then JUST LEAVE

And one last thing, don’t go away mad, JUST GO AWAY!!!!!

oh ok, well at least I write something interesting.. I refuse to pay anymore attention to you!!!!! make fun of me all you like.

http://www.iraqigovernment.org/index_en.htm#

In case you are too stupid to notice, this is not a forum for anti-war commentary, but discussion about the Iraqi Dinar. Are you a child?

Quit the nonsense, now. I have begun actively deleting irrelevant comments, and will do so indefinitely, so it's not worth your trouble.

If you don't stop, I will require everyone to register a valid email address before posting. And if an idiot registers a valid address, I can cut him off and delete all his posts with one keystroke.

--

Everyone else, please ignore the troll, and sorry for the inconvenience.

easy folks,this just proves his forefathers had sex with camels.i personally am not gonna let this guy get to me.just some troublemaker trying to get our goat.buy dinar and get ready for him to be here all alone, while the rest of us are on a exxxxtended vacation,drinking tropical drinks,and having people like him waiting on us and mumbling to themselves (wish i had bought dinar!!!wish i had bought dinar!!!sob sob sob

HAY Al, REALIST, OR LACY thats real tricky posting under someone elses name, I gess I was correct with my post, about you idiots spredding b--- s--- negetive retorick, so sad that you are so uninformed and uneducated to be able to find facts about your opinion OOPS wrong word opinion hints that you are an expert, but then again maybe you are the definition of an expert is an ex is a has been and pert is a drip under pressure. PS the dinar is going to do verry well with or with out your coments.

Iraq govt to be unveiled today
(Reuters)
21 April 2005

BAGHDAD — Iraq may finally get a new government today, its president said, offering an end to nearly three months of stalemate since a historic election.

A new democratically elected government in power could ease Iraqis’ widespread frustration about the weeks of horse-trading even as rebel violence has revived.

“We want to announce it (the new government) as soon as possible,” Talabani told reporters after meeting Prime Minister Ibrahim Jaafari, former interim prime minister Iyad Allawi and Abdul Aziz Al Hakim, leader of Shia Muslim party SCIRI.

“We are hoping it will happen tomorrow afternoon,” he said.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/middleeast/2005/April/middleeast_April549.xml§ion=middleeast&col=

KEVIN I made that last post befor I saw your post, that was very good, I have given you my valid email. thees people are just waisting space. Thanks again for all you do.

GULF INVESTMENT CORPORATION RATED
The investment arm of the GCC has been rated Baa1 with a stable outlook by Moody's Investor Service, and given a rating of BBB+ with a positive outlook by Standard and Poors.

I asked about the GCC last night and requested the link to it be emailed, but no response-would really appreciate one.

Have a question-If the currency does become one currency-just how does that affect the Dinars I have now? Have 1,000,000. Would they have to be exchanged for the new currency? Would they be equal to the new currency-or would it be a situation such as (using the dollar as an example)-if the GCC currency is worth $ .10 per dollar and the Dinar worth $ .05 per US dollar, it would take two Dinars to obtain 1 GCC-or would it raise the value of the Dinar to the value of the GCC currency? Any ideas or possible information? Also, if and when it happens, how long - and would we be able to - make the exchange?

Thank you

Hey all, this is part of an article that I located. Low oil supply and high demand means higher prices. The part about Shell confirms sporter's earlier post.

http://www.energybulletin.net/5374.html

Published on 17 Apr 2005 by Sunday Herald. Archived on 17 Apr 2005.

Odac warns of global shortage of oil after 2007
by Valerie Darroch

THE world faces a global oil supply shortage after 2007, which would threaten economic growth, according to new research by the Oil Depletion Analysis Centre (Odac) which says that not enough major new fields will come on stream to offset declines .

“Our latest research confirms solidly our view that we cannot see any reasonable circumstances under which new supplies from expected mega oil projects could possibly meet world demand by 2008,” said a spokesman for London-based Odac.

Chris Skrebowski, a board member of Odac, has analysed all planned oil field projects worldwide with reserves of more than 500 million barrels and concluded that, on current timetables, output from new fields will be insufficient to offset more major oil producers moving into net production decline.

Shell, which last year faced a corporate crisis after overstating its oil reserves, recently said its reserve replacement ratio had shrunk to 19%, the lowest of any oil major. This means Shell is finding less than one-fifth of what it produces.

“More and more countries are tipping over into absolute decline. There are 18 major producers and 32 smaller ones in decline already – that adds up to 29% of world production,” said Skrebowski.

The Odac has calculated future scenarios based on a range of forecasts of annual world demand growth, ranging from modest expectations of 1% per annum up to 3%.

Last year, global oil demand grew by 3.3%, fuelled largely by China, and Odac argues that if demand continues to rise at this rate then, by 2008, the world will face a shortfall of one million barrels per day.

KEVIN
I HOPE THINGS WILL BE BETTER NOW.THERE ARE ALOT OF GOOD TIDDING ON THIS THREAD.
PLEASE LETS DO WHAT IS RIGHT.WE CAN ALL MAKE IT WORK.RON

US Senate Approves $81 Billion for Iraq, Afghanistan
By Deborah Tate
Capitol Hill
21 April 2005

The U.S. Senate has approved by a vote of 99 to zero spending $81 billion for military operations in Iraq and Afghanistan and for victims of last December's Indian Ocean tsunami.

Most of the money is to fund military activities in Iraq and Afghanistan through the end of the current budget year, September 30. The Pentagon is expected to ask for more money for operations in 2006.

The legislation gives the administration much of what it asked for, and also includes $907 million for victims of the Indian Ocean tsunami and nearly $700 million for homeland security and counterterrorism activities.

http://www.voanews.com/english/2005-04-21-voa78.cfm

Sara
Which post was false under my name.

Angel;

It was removed, the false post made under your name with false information in it, by our friend Kevin Brancato. You can read his post about it, above.

Sara.

Robert
That post was scary.Good but scary.

Thank you sara and thank you Kevin for removing it.

Sara,
What is your prediction about the dinar.I would realy like your opinion.

Well I see everything is kinda getting calmed down now. God the past couple of days I really thought about not comming to the post anymore, to much yelling and finger pointing. enough is enough! Me and another person on this post had a discussion earlier in the week about how money will change people.. Well, I guess all this fighting has shed some light on our discussion.. We were all angry because someone on this board keeps telling us we arnt going to make any money on this investment, and perhaps, this person is angry because we are going to make some money.. If this is what happens to people whe they get rich, then hell, I will just burn my dinars because I had rather be poor than this investment change who I am. I have been on this post since the day Kevin started it, and I have always put my email on all my post. I have never said anything about what anyone post here until this week, but if this BS starts again, I am out of here for good..

Michael

Michael,
I hear that.But ya know the thing that can change who you are is you.And you are right why stay if all you get to read is BS.

You can do what I do if youd like.You know what realy makes me keep buying NID,it is the thought and hope that someday my dream to open up a foundation for children.

It is not the money that is evil it is the bad people who use it.You can do many great things whith such as what I had stated above.I know I am not all that great with words but I am sure you know what I mean

Thanks Angel

I know what you mean, I am just tired of the fighting.
take care

Michael

Angel;

My opinion is that the Dinar has a rosy future, both short and long term. :)

In the short term, the people of Iraq cannot open their stock exchange to foreign investment with their Dinar worthless as it is, or those with a few thousand US dollars, even you, could pick up entire Iraqi companies.

How fair is THAT to the Iraqi people who want to conduct business? It isn't.. all of Iraq's business interests should not be foreign owned.

Therefore, the Dinar will peg first and have a value which will protect them from foreign, hostile takeovers.

I think it will be worth something, therefore, sooner than most are thinking.

It is also a good long-term investment because I believe Iraq will be welcomed into the GCC; and due to increased demand for oil, the prospects for the region - and Iraq - are lucrative.

I think right now it is at pretty much the bottom of the barrel, the only way it will go.. is UP.

Sara.

hi to all i need to tell every one in here the din will go up no mutter what.

Hey Angel,

You're right. It is scary but good. Oil is a finite resource. Will check in later to see how everyone is doing.

Hey All,

Was just wandering around the www, and decided to stop in at ebay and see what's going on with dima89 - the famed ebay seller of dinar. I love dima89 he's the only person I trust to buy NID from.

Anyway, I decided to crunch some numbers...

dima89 has made 3099 transactions selling dinar on ebay - and counting.

If each of the transactions were at 1 million NID per, then 3,099,000,000 NID have been passed through him (alone) out of country, on ebay.

We know that the transactions have been far more than 1 million per transaction ...some at two, or three, and some as high as 10, etc.

But, just at the 1 million per estimate, dima89 has made approximately $3,574,394.46 USD, since Oct of 2003 when the NID first hit the street, and he started selling it.

I'd be willing to say that it's probably more like five to six million, possibly more, that he's made. So, he has (more like they have) certainly made themselves a small fortune in the last 18 months.

No indication from him of anything about to happen. His selling price still hasn't changed as of about a week ago - it's still $867.00 for 1mil of 40 25,000 NID notes.

Just something to chew on...

Cheers,

Bill

As the people see more and more of these murderings, such as the 50 Islamic Iraqi bodies that just turned up in the river, the Insurgents are losing much of their support from the people and the Muslim Scholars Association. (How'd you like to become a Muslim? If they disagree with your stance on the Koran, your "brothers" will shoot you and throw you in the river.. nice religion). As this article says, we pray that they "can peel away those elements of the insurgency, not tied exclusively to a radical Islamist ideology." ....in order that peace (and cooler and wiser heads) would prevail.

One Iraqi rebel group considers laying down arms
(AFP)
22 April 2005

LAKE THARTHAR - The rebel leader kneels against a barren white wall, his face shrouded in a red and white Keffiyeh as he grips a rusty Kalashnikov and considers his options.

He runs a five-man cell living a threadbare existence in a shack with plastic canvas walls on the dirt banks of Lake TharThar, which Iraqi commandos and US Apache helicopters assaulted one month ago.The rebel leader, who declines to be named, and his men sleep on thin mattresses and pour steaming cups of tea in their shack, littered with vegetable tins.

They pride themselves on their spartan existence, but are somewhat defensive when talking about car bombings and beheadings they feel have tarnished the insurgency’s name.

“There are some groups who are doing some killing, robberies and other acts that does not please God and his messenger. This is aimed at distorting resistance in the eyes of the Iraqi people,” the leader says, in a long rambling speech, his brown pupils staring out from the slit in his Keffiyeh.

His opinion illustrates an emerging trend in the US-Iraq battle against the insurgency.

Following the January 30 election, some insurgents now appear worried their methods, including suicide car bombings, have cost them popular support.

And some have indicated a willingness to follow the lead of the influential Sunni Muslim grouping, the Committee of the Muslim Scholars, which has said it will call a halt to violence if Americans give a timeline for a withdrawal.

“We are following the Muslim Scholars Association.... If the Muslim Scholars Association orders us to stop fighting then we would consider it.” the rebel leader says.

The Muslim Scholars, said to number around 3,000 mosques and thought to have channels to the insurgency, has sent mixed messages in recent weeks, authorising representatives to sit in on negotiations for government cabinet posts.

Key members have called for Sunnis to join the Shiite and Kurdish dominated security forces and urged Iraqi president Jalal Talabani to consider an amnesty for insurgents.

It is a moment of transition and what unfolds depends on whether the Iraqi government can peel away those elements of the insurgency, not tied exclusively to a radical Islamist ideology.

The head of Iraq’s elite commando force, Major General Adnan Thabet, believes the government is winning the war for hearts and minds.

“Insurgent numbers are decreasing. Some have left the resistance after they saw what these terrorists did.... The people are starting to hate them.”

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/April/focusoniraq_April100.xml§ion=focusoniraq

Bill;

Have you ever heard of win/win negotiating?

I do not make any money from selling Dinar.. this is just my take on it personally. I never have bought Dinars from ebay, either.. But.. my thought is.. that SOMEONE had to sell this investment, and if they made some money, that is fine by me!

When President Bush made it possible (by executive order) for Americans to hold the Iraqi Dinar, I think that was good for Iraq.. and for Americans investing in the Dinar.

It was good for the sellers.. and for the buyers.

I think it is a win/win situation.

When you buy a house, you pay the realtor. You get a house, the other guy sells his house, the realtor makes a little money on the transaction. Everyone is happy.. win/win. :)

I am just pleased I was ABLE.. was ALLOWED to buy into this speculative investment. I wish I had been on the ball and bought Kwaiti money after the Gulf War..

So.. to me, good the guy on ebay made some money.. I hope all those who bought from him will, soon, too! :)

Sara.

What if this order had never been signed? No one on ebay, or anywhere else in America, would have been allowed on the Dinar train.. :(

Presidential Order 13303

Presidential Order 13303: Allows US Citizens to invest in the New Iraq . Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen

IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq . The new order allows for a restructuring of the banking system in Iraq . US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq .

http://www.dinartrade.com/presorder

PS I didn't buy from this site, either, so I don't know if it is any good, but it has some interesting information on it, including the above.

Sara.

Bill;

So... basically.. I am not opposed to the realtor making some money on a real estate transaction, so long as I get the real estate I wanted to buy. And I am not opposed unequivocally to the Dinar seller making a profit on selling me my Dinars. He gets his cut, as all middlemen do. That does not mean that the real estate (or Dinars) I bought were a lousy deal and the guy is a cheat for selling it to me, just because he made a profit. In fact, I am quite happy with my purchase and think I got a very good deal. :)

Sara.

Thoughts on Radical Islam:

Do any other than radical Islamics think that what they are doing is martyrdom? I mean, when the world of "unbelievers" look at these Islamics blowing up other Islamics, like the 8 killed while doing their prayers today, do they think this is godly behavior?

It reminds me of Jesus' words to His disciples about how they would be killed by people thinking they are doing God a service.

Joh 16:2-4 ...Yes, the time shall come, that whoever kills you will think that he does God a service. And these things will they do to you, because they have not known the Father, nor me. But these things have I told you, that when the time shall come, you may remember that I told you of them.

I believe that Hitler believed he was ridding the world of the Jews and it was a good thing to do, too.

How do you reach a radical idealogue so as to penetrate that mindset that their killing is doing God a service, when in fact, it is not? Other than force of arms, as was used in the case of Hitler, the only other time I recall such a change happening was in an old TV show called Star Trek (the original series). In one episode, the Enterprise crew arrive at a planet to find the children all alive but all the adults dead. The children get on board the ship and then they are directed by the forces that caused them to kill their parents into trying to take over the ship from the "wicked adults" running it. The way the Enterprise crew was able to bring them to see what was the real situation was was to show the murderous children videos of them playing with their parents, reminding them of the fun times they had, then show them videos of the graves after they had cooperated in killing their parents. Only then did the enormity of their crimes penetrate their conciousness and cause them remorse. Only then did they turn on those controlling their minds and renounce their continued violence against others.

But I am unsure that in this case, with these Radical Islamics, that these have a conscience to be reached, because they justify it by saying those they killed were evil, and they do God a service in killing innocent men, women and children.. even of their own faith.

Sara.

REALLLY APPRECIATE THE ANSWERS I HAVE NOT RECEIVED-GUESS YOU ALL DON'T CARE TO HELP.
MARY LOU

SORRY-FORGOT TO SAY THANK YOU

Mary Lou;

We have had so many false posts lately, I for one am wondering if you are a sincere inquirer or another pretend poster. I suggest you read the previous posts as I believe the answers you seek are all there.

Sara.

Sara,

My comments about dima89, and the selling of NID were harmless. Just some shot-from-the-hip info talking about how much NID may be out of the country and in the hands of speculators/investors. And, the fact that dima89 has done very well for himself selling it.

I'm a satisfied customer too. And; win, loose, or draw, the story of my journey on the Dinar Train is one my children, and grandchildren, will certainly tire of me telling - once this train has finally reached it's destination.
__________________________________________________

Hmmmm...

How do we reach the insurgents - on a human level - to get them to abandon their murderous ways???...

Well, first of all, all insurgent activity (at least half of it - if not more) is not religious based, but merely hiding behind religion to try and cause Iraq to disintegrate into civil war.

If Iraq were to fall into civil war it would be ripe for the picking for anyone, or any group, that has the gonads to go for it. And, the icing on the cake - of course - would be the huge disgrace the good'ole U.S. of A. would suffer from it. There-in lies these type of insurgent's motivation.

The real religious believers/fighters are just caught in the middle somewhere, trying to justify their motives.

These people (the cut-throats) are liars, murderers, and thieves of the highest order, and they use religion to conveniently keep everyone in tow. They have done it successfully for centuries in the Middle East - it's merely business as usual.

Carl mentioned Puppets nad Puppet Masters the other day, and I see no difference with religious leaders in the Middle East in this regard. They're the real power players, the programmers, the ones in control. They can either turn the majority of the bloodshed off, or "Bam! Kick it up a notch.". Their mindset is A-Typical and beyond comprehension - in Western terms. But, like I said before POWER corrupts people - and what better power than to control someone through religion(?).

Bottom line:

Can we make it any simplier for them?... I think not. ...Violence in Iraq settles down - Americans go home. If that's what they want, then what is it they don't understand?!?!?...

The way I see it, they don't just want their cake, they want to eat it too. They don't want us to leave on our terms, they want to drive us out under their terms - no matter how many innocent people must die for that to take place. Saving face is always more importanmt than human life - in their eyes.

Cheers,

Bill

Grounds for Optimism?
Iraqi soldiers are getting better at holding off insurgents.
By Owen Matthews
Newsweek International
April 25 issue -
© 2005 Newsweek, Inc.
http://www.msnbc.msn.com/id/7528570/site/newsweek//newsweek/

Bill;

I am glad you are equally happy with your Dinar purchase. It is a great train to be on. :)

Do you remember the story about the wind and sun having a wager about which of the two of them could make a man take his coat off? The wind tried first and blew and blew.. but the man just pulled it more tightly about him. Finally the wind gave up. The sun then came out and shone so strongly it became swelteringly hot and the man took his coat off.

The more the Insurgents think that they can blow the US out of Iraq, like the wind, the tighter they will hold on. If they instead were to "settle down the violence" as you said, and seek the sunshine of peace, then the US would leave as soon as is possible.

As you said, the only ones winning are those who are corrupt and anarchists, seeking strife and war to profit for themselves under the false banner of religion.

It is sad that that which is used to codify decent and moral behavior (religion) is so often used to destroy the morals it supposedly is set up to defend. Does anyone think Radical Islamists moral people when they shot that Bulgarian survivor in cold blood all the while calling falsely on God's name?

Sara.

Thank you, Sarah, for the courtesy of your response. My questions are sincere-they are questions-not comments. Could you please go back to my post at 10:49pm April 21 and read?

Thank you-it would be greatly appreciated.

Again, thank you for the courtesy of responding-I can understand why you would be hesitant.

Mary Lou.. you asked:

"If the currency does become one currency-just how does that affect the Dinars I have now?"

Obviously, there would be a value to the Dinar which is above the current value, and more in line with the value of the GCC. Exactly what the figure would be we have speculated on earlier in the posts.

Check Dave A's post on April 13, 2005 12:04 and my reply just below it, for instance.

In fact, if you read the posts on this board through, you would find opinions and ideas which could help you figure out for yourself what you think is a reasonable answer to your questions.

That might be a useful suggestion to follow before posting, like you did:
APPRECIATE THE ANSWERS I HAVE NOT RECEIVED-GUESS YOU ALL DON'T CARE TO HELP

The board can be a great help and resource for you to find the answers.. if you use it.

Courtesy is important, none of us are being paid to give you this information. Just trying to help you out.

Sara.

Thank you-I will read the post you suggested-could you please email me with the GCC URL? Thank you.

The GCC homepage is:

http://www.gcc-sg.org/index_e.html

I enjoy reading your comments. Being here in Kuwait, I daily see the Kuwaiti's buying large sums of Iraq Dinar. They are considered the smart money people of the middle east. They have faith that the Iraqi dinar will go up. Just wanted to give you all something to help you keep the faith.

Fueling the Empire
Oil War
by DAN BROOK

Prior to formally ordering the invasion of Iraq, Bush warned the Iraqis: "Do not destroy the oil wells". The war on Iraq was, reportedly, originally named Operation Iraqi Liberation, instead of Operation Iraqi Freedom. Someone realized, however, that the acronym would be OIL. That wouldn't make for good PR-not that it didn't clearly represent their interests, but not the interests they care to advertise. I suppose it was therefore a compromise, and a nod to their Capitalist-in-Chief, to name some of the U.S. military bases in Iraq after oil companies. Amazingly, they really did name a Base Exxon and a Base Shell somewhere in the deserts of Iraq!

Bush and Cheney both have deep and dirty connections to the oil industry, not to mention National Security Advisor Condileezza Rice, who actually has a Chevron oil tanker ship named after her. It is not just that so many in the Bush regime have worked for-and with-oil companies or in the energy sector more generally. There is also the issue of the legalized system of bribery called campaign contributions. With millions of oil dollars pouring into mostly Republican coffers, and with favorable legislation and tax laws for oil companies, the symbiotic relationship is powerful and sickening. Oil kingpin Bush and his gang are economically addicted to oil.

Iraq has the second largest proven oil reserves in the world (after Saudi Arabia), but with newer technology engaging in further exploration and analyses, Iraq may very well prove to have the most oil. Though Bush's wars are about oil, it's not just about controlling oil, what the Bush administration calls "energy security". It's also about controlling the price of oil, controlling those prices in U.S. dollars instead of Euros, and controlling the flow of oil dollars, the money made by selling oil which is then invested abroad. The Kuwaiti royal dictatorship, for example, makes more money from their oil-funded overseas investments, primarily in the U.S. and Britain, than they do through direct oil sales.

Though Secretary of Offense Rumsfeld quipped that the war against Iraq has "nothing to do with oil", other political and military leaders made much about securing Iraqi oil wells very early into the invasion. Documents from Bechtel and the government further evidence an obsession with Iraqi oil, and the Aqaba pipeline to carry it to Jordan, at least since Rumsfeld's December 1983 meeting with Saddam Hussein. The record also shows no concern, let alone obsession, with Saddam's use of torture or chemical weapons.

When asked by Charlie Rose how the war was going on 1 April, General Joseph W. Ralston, Former Supreme Commander of NATO, didn't hesitate, stating "We own the southern oil wells." Now, Philip Carroll, former chief executive of Shell, along with other former oil executives, is slated to run the Iraqi oil production industry. As with corporate leveraged buyouts, Bush & Co. seek to pay for its war and the privatized reconstruction of Iraq using revenues from future Iraqi oil sales. The U.S.-run regime in Iraq, whether a military or civilian dictatorship, will undoubtedly promote promiscuous privatization as a key plan-of oil, of course, but also of other "commanding heights" (i.e., transportation, communications, water, and other prime resources and infrastructure), what Naomi Klein calls "privatization without representation".

As feminist Grace Paley says, "today's wars are about oil. But alternative energies exist now-solar, wind-for every important energy-using activity in our lives. The only human work than cannot be done without oil is war." Therefore, she concludes, "men lead us to war for enough oil to continue to go to war for oil." This vicious cycle is like a well-oiled machine.

During Gulf War I, Pulitzer prize-winning New York Times essayist Thomas Friedman remarked that "the U.S. has not sent troops to the Saudi desert to preserve democratic principles. This is about money, about protecting governments loyal to America and about who will set the price of oil".

Reflecting on the intimate-"embedded"-relationship between state and corporate power, what Mussolini referred to as fascism, Friedman laid it plain in The Lexus and the Olive Tree, his intellectual love letter to corporate globalization and U.S. imperialism: "The hidden hand of the market will never work without a hidden fist. McDonald's cannot flourish without McDonnell Douglas, the designer of the U.S. Air Force F-15. And the hidden fist that keeps the world safe for Silicon Valley's technologies to flourish is called the U.S. Army, Air Force, Navy and Marine Corps." Free markets? Not quite. The unspoken capitalist mantra has always been "free markets for thee, not for me".

In "The American Empire (Get Used to It)", (New York Times Magazine, 5 January 2003, cover story), Michael Ignatieff states that "because [the Persian Gulf region] has so much of the world's proven oil reserves", it is "the empire's center of gravity". Ignatieff refers to this as "the burden of empire". The following day the London Daily Mirror, also with a cover story, pictured a graphic showing a tough-looking Bush with his tough words interspersed with oil company logos. Underneath, the tag line reads: "Now can you guess why George W. Bush is hellbent on a war with Iraq?" It shouldn't surprise anyone-though it may disgust them-that while the U.S. military allowed the Baghdad library and museum to be looted of priceless Mesopotamian antiquities, it carefully guarded the Oil Ministry with heavily-armed Marines and razor wire.

Yes, there is an empire and there is a burden of empire. It is not, however, that the U.S. must "reluctantly" (as Bush says) be an imperial power-it has often rushed to the occasion. Unfortunately for the misfortunate millions (and billions!), it is the citizens of the world who bear the burden of empire by paying its tremendous costs while the élite reap the tremendous profits. Now, as Baghdad smoulders and digs itself out, the bells of Operation Iraqi Freedom are ringing in the ears of Iraqis like the sound of night time air raid sirens.

Investigative journalist Jim Valette reflects on U.S. policy in Iraq: "Is this pursuit of oil or the pursuit of empire? ... Right now it's really two sides of the same coin." While it may seem that the U.S. empire is increasing its reach and strength with military victory in Iraq, it is also following in the footsteps of all other historical empires. Excessive military budgeting (equal to the rest of the world combined), rising deficits and debt (over $300 billion each year), imperial overstretch (U.S. military bases in over 100 countries), the disregard and disrespect of allies and others (including France, Germany, Russia, Japan, in addition to the UN and international law, while enraging world opinion) and outrageous arrogance (the many offensive words and deeds of Bush, Cheney, Powell, Rumsfeld, Rice, et al.) all lead to an unsustainable system that frays from the edges inward and rots from the top down.

Much is the same in this imperialist "game" (as one military leader called it) of conquest, though a tragic line has been crossed: first-strike unilateralism with mass manipulation, mass murder, mass expense, mass ecocide, mass terror, mass destruction-including the use of weapons of mass destruction, such as napalm, depleted uranium, cluster bombs, Daisy Cutters and other massive bombs containing chemical slurries-and mass media warnography. The Bush regime also threatened to use nuclear weapons. The consequences of acting in these ways will reverberate in very painful ways, as history will demonstrate.

Around 1698, the famous Japanese Zen poet Basho wrote a time-honored haiku:

Summer grasses:
all that remains of great soldiers'
imperial dreams

Public health advocate Susan Clarke, though, recently adds:

Not even grasses remain
when toxic war waste undermines
their very nature

But at least the Bushies will get their oil fix. They-and we-need to kick the habit.

Thanks, JD. :)

It is great to see the smart people, like you and the Kwaitis, wanting the Iraqi Dinar to prosper. It is good for the investors, good for Iraq.. good for the world. :)

Sara.

US report acknowledges peak-oil threat
By Adam Porter in Perpignan, France

Wednesday 09 March 2005, 18:23 Makka Time, 15:23 GMT

Some say global oil production has passed its peak point



Related:
Oil prices confound experts
Expert: Saudi oil may have peaked
Oil barons set to reap winter windfall


It has long been denied that the US government bases any policy around the idea that global oil production may be in terminal decline.

Authored by Robert Hirsch, Roger Bezdek and Robert Wendling and titled The Peaking of World Oil production: Impacts, Mitigation, & Risk Management, the report is an assessment requested by the US Department of Energy (DoE), National Energy Technology Laboratory.

It was prepared by Hirsch, who is a senior energy programme adviser at the private scientific and military company, Science Applications International Corporation (SAIC).

They work extensively on defence and geopolitical issues for clients, including many for the US government.

Hirsch has held a wide variety of positions in the US energy hierarchy including senior energy analyst at the Rand Corporation, through to a presidentially appointed assistant administrator for solar, geothermal and advanced energy systems.

Attacks on Iraq's oil network are
doing nothing to calm the market

He has also previously worked for the US Department of Energy on numerous advisory committees, including the DoE Energy Research Advisory Board.

This new report follows on from two presentations by Hirsch last year. One on 1 March to the same National Energy Technology Laboratory and another on 14 June last year at the Annapolis Centre for Science Based Public Policy. Here Hirsch laid down his ideas on the peak of oil production.

The Annapolis Centre for Science-based Public Policy is a group which has received $658,000 in funding from Exxon Mobil since 1998. It openly disputes the idea that global warming is the result of burning fossil fuels.

But this brand new senior-level report on "peak oil" is unprecedented in US government circles. It is not just the existence of the report itself that is such a landmark in the current oil debate. Its conclusions also pull no punches.

Uncertain timing

"World oil peaking is going to happen," the report says. Only the "timing is uncertain".

The effects of any oil peak are similarly not ignored. Specifically, the impact on the economy of the United States. "The development of the US economy and lifestyle has been fundamentally shaped by the availability of abundant, low-cost oil. Oil scarcity and several-fold oil price increases due to world oil production peaking could have dramatic impacts ... the economic loss to the United States could be measured on a trillion-dollar scale," the report says.

A US expert panel says markets
cannot solve peak-oil problems

The authors of the report also dismiss the power of the markets to solve any oil peak. They call for the intervention of governments. But also they rather worryingly point to a need to exclude public debate and environmental concerns from the process. They say this is needed to speed up decision-making.

"Intervention by governments will be required, because the economic and social implications of oil peaking would otherwise be chaotic. But the process will not be easy. Expediency may require major changes to ... lengthy environmental reviews and lengthy public involvement."

Hirsch notes, despite arguments from the major oil companies and producer nations, that new finds of oil are not replacing oil consumed each year. Despite the advances in technology, reserves are becoming increasingly difficult to replace.

Three scenarios

The report sees "a world moving from a long period in which reserves additions were much greater than consumption, to an era in which annual additions are falling increasingly short of annual consumption. This is but one of a number of trends that suggest the world is fast approaching the inevitable peaking of conventional world oil production".

Critics say Bush has failed to act
to reduce US dependence on oil

The report then takes three possible scenarios and outcomes. Firstly that energy replacement solutions, or "mitigation" as the report states, are started 20 years before any "peak". Secondly that solutions are only enacted 10 years before any peak and, thirdly, that solutions are only put into practice as the peak becomes apparent.

In what some may see as an optimistic assessment, the authors believe 20 years is enough time to limit damage from any peak. However, they point out that "if mitigation were to be too little, too late, world supply/demand balance will be achieved through massive demand destruction".

Demand destruction is a modern way of saying catastrophic recessions and shortages. But as well as these predictions, the report lays out "signals" it believes will be apparent in the run-up to any peak. This is perhaps the most worrying aspect of the report, as it seems to describe the very events that are taking place at the moment.

Supply insecurity

"As world oil peaking is approached, excess production capacity ... will disappear, so that even minor supply disruptions will cause increased price volatility as traders, speculators, and other market participants react to supply/demand events," the report says.


One scenario says energy prices
may become more unpredictable

"Simultaneously, oil storage inventories are likely to decrease, further eroding security of supply, aggravating price volatility, and further stimulating speculation ... oil could become the price setter in the broader energy market, in which case other energy prices could well become increasingly volatile and unpredictable."

The report highlights a series of ways to minimise any impacts. From increased fuel efficiency to technological help in stopping the practice of "oil-left-behind" or non-extractable oil and various forms of new liquid fuels, liquefied coal and gas-to-liquids.

But in its conclusion the report makes troubling reading, noting that "the world has never faced a problem like this. Without massive mitigation more than a decade before the fact, the problem will be pervasive and will not be temporary. Previous energy transitions were gradual and evolutionary. Oil peaking will be abrupt and revolutionary."

This report is the clearest signal yet that the U.S government is taking the subject of "peak oil" seriously. Yet it remains to be seen what actions can be taken to stop this potentially "revolutionary" change.

Sporter;

That was a very interesting OPINION column, and an OLD post from April 17, 2003. Not very current and certainly biased in its viewpoint, calling the Americans "Imperialists" and "only after oil".

www.counterpunch.org/brook04172003.html

I noted those who wrote this article say that:
"Twice a month we bring our readers the stories that the corporate press never prints. Ours is muckraking with a radical attitude...(with an) irreverent and biting approach".

They say their readers, "write in to say how useful they've found our newsletter in their battles against the war machine, big business and the rapers of nature."

They proudly say: "..you'll never see any of us on the pundit line up at MSNBC."

So their views, in case anyone didn't know.. are not exactly mainstream. Environmentalist extremists, anti-government and anti-business, they teach a radical view that most news services will not touch.

Just to keep you informed of what is being touted here as "news" reporting.. that post isn't news so much as opinion, TWO YEAR OLD opinions, too.

Was the point that you share their opinion, too?

Sara.

slogan should be:

GOT DINAR?

Sara,

I just want to share information that I belive is relavant. Whats your take on my post from March of 2005?

Sporter;

This next article.. again, no url, comes from a site which proudly calls itself ANARCHISTS.

http://www.infoshop.org/inews/article.php?story=20050319220927397

Their FAQ looks like this on the site:

Section A - What is anarchism?
Section B - Why do anarchists oppose the current system?
Section C - What are the myths of capitalist economics?
Section D - How does statism and capitalism affect society?
Section E - What do anarchists think causes ecological problems?

I don't mind if that is your leanings, but could you please indicate them toward the board so we know what reference points you are using in your argumentation?

If you are far off in left field, I would appreciate knowing it and basing my opinion on an informed understanding of your views. Please don't hide where you are coming from and reference your viewpoint's websites.

I am not saying the viewpoint is invalid, I just wish to understand it in context. I will think it through and let you know how I see the viewpoint presented by these self-proclaimed anarchists.

Sara.

Sara,

Thanks for your reply. I will now turn over this forum to you and stop posting. Good luck to all of the Dinar investors.

God Speed!

Sporter;

You asked my opinion.. I had not given it. I was simply saying the SOURCE was questionable as being reliable, for reasons which I will explain, if you will listen. I AGREE WITH YOU.. and did not mean to offend you.

These folks are definitely outside of mainstream, however, they are going basing their opinion on "a new US government-sponsored report, obtained by Aljazeera.net". They say the report, "was prepared by Hirsch, who is a senior energy programme adviser at the private scientific and military company, Science Applications International Corporation (SAIC)."

Note that this is one man's informed expert opinion and thus has fact and opinion mixed. Also note that these sites you quote are trying to get across their opinions on it. My concern was to understand which is fact, which opinion.

"World oil peaking is going to happen," the report says. Only the "timing is uncertain". The answer, they say, does not lie with the market, but the government. "The authors of the report also dismiss the power of the markets to solve any oil peak.They call for the intervention of governments."

The first part is fact. World oil will peak.. that is a fact. The ANSWER, though.. is opinion. They dismiss the idea of supply and demand solving this problem, and call for government controls. That part is opinion.

As far as the Dinar is concerned, you are right, this is a good thing, it can only add to the Dinar value. However, lets talk about the fuel solution for a bit here, just to address the issues and the long term outlook for oil producing countries (such as the Middle Eastern country of Iraq).

If the price of oil hits sky high, people will go out looking for more of it because people will find it worthwhile to drill. Others will find it worthwhile to develop other alternate fuel sources. I disagree with their lack of faith in the ability of the marketplace to adapt. It MAY mean higher prices for a while, but the market adjusts and things move on. I don't see doomsday coming EVEN IF we are running out of fossil fuels. Mankind will just have to develop other modes of meeting its needs. What we use today to fuel our society is fossil fuels. Can you say that if that ran out, we would be back in the stone age? Or would someone develop other fuel technologies? Technological advancements will solve these problems.

For instance, this article which states:
http://www.wired.com/wired/archive/13.02/nuclear.html?pg=2&topic=nuclear&topic_set=

This remarkable success suggests that nuclear energy realistically could replace coal in the US without a cost increase and ultimately lead the way to a clean, green future. The trick is to start building nuke plants and keep building them at a furious pace. Anything less leaves carbon in the climatic driver's seat.

A decade ago, anyone thinking about constructing nuclear plants in the US would have been dismissed as out of touch with reality. But today, for the first time since the building of Three Mile Island, new nukes in the US seem possible. Thanks to improvements in reactor design and increasing encouragement from Washington, DC, the nuclear industry is posed for unlikely revival. "All the planets seem to be coming into alignment," says David Brown, VP for congressional affairs at Exelon.

Last November, the DOE's Idaho National Engineering and Environmental Laboratory showed how a single next-gen nuke could produce the hydrogen equivalent of 400,000 gallons of gasoline every day. Nuclear energy's potential for freeing us not only from coal but also oil holds the promise of a bright green future for the US and the world at large.

-----

I certainly am not a doomsayer, and if we are facing a massive shortage of fossil fuels, other fuels, such as nuclear energy, will step in and take up the slack. We won't live in the dark but mankind will thrive and find innovative and affordable solutions, I believe. So I am not likely to run and hide at this news, or run toward the government having more control over the market to slow the inevitable change that must occur.

I am not of the view that we need more interference in the markets as this article you quoted which states:

"Intervention by governments will be required, because the economic and social implications of oil peaking would otherwise be chaotic. But the process will not be easy. Expediency may require major changes to ... lengthy environmental reviews and lengthy public involvement."

Endless red tape and slowing the process of change by governmental controls is not how I feel the market will be best served. Government is highly inefficient, cumbersome and bureaucratic. I prefer to let business create and market solutions. They will try and compete with the (admittedly higher priced) oil products. But this could cause radical changes in our markets and innovations.. such as the nuclear option quoted above. Remember the saying, "Necessity is the mother of invention." It need not be doomsday.. it can be a beginning in another era.

This is an even better solution to my mind:
http://news.ft.com/cms/s/cf6dc8d2-7937-11d9-89c5-00000e2511c8.html

China to pioneer ‘pebble bed’ N-reactor
By Mure Dickie in Beijing
Published: February 7 2005

China is poised to develop the world's first commercially operated “pebble bed” nuclear reactor after a Chinese energy consortium chose a site in the eastern province of Shandong to build a 195MW gas-cooled power plant.

An official representing the consortium, led by Huaneng, one of China's biggest power producers, said the proposed reactor could start producing electricity within five years.

If successfully commercialised, the pebble bed reactor would be the first radically new reactor design for several decades. It would push China to the forefront of development of a technology that researchers claim offers a new “meltdown-proof” alternative to standard water-cooled nuclear power stations.

China and South Africa have led efforts to develop “pebble bed” reactors, so called because they are fuelled by small graphite spheres the size of billiard balls, with uranium cores. The reactor's proponents say its small core and the dispersal of its fuel among hundreds of thousands of spheres prevents a meltdown.

Advocates of “modular” pebble bed reactors argue they offer the hope of cheap, safe and easily expandable nuclear power stations a potent appeal for China, which is struggling to meet huge growth in energy demand while avoiding environmental disaster.

----

My opinion???

Certainly we will have a great demand and the price will go very high.. GOOD FOR THE DINAR..
But those who find this intolerable will then find a solution which is cheaper. The market will find solutions, non-fossil fuel solutions. For a while the DINAR will do well, as will all things tied to the fossil fuels. For the foreseeable future, it bodes well for Iraq and oil producing countries. They will be prosperous because we are dependent on them for our fossil fuels. GO DINAR.. is indeed the slogan of the article, I agree.

I just disagree it is a disaster scenerio with the need of government to do all the work without regard to the marketplace, or in place of it. :)

Sara.

Sporter,

You say that you may not post here ever again. I hope you change your mind and do post again - as you see fit to do so. But, whether you do, or you do not post here again, you will be watching from afar - as all of us "obviously" do.

I respect you and the posts that you make here at the T&B. You're one of what I consider the "Level Heads" that frequent this site.

Your recent posts contain much validity, and warrant consideration.

I'll leave it at that, and decline igniting the Firestorm.

Cheers,

Bill

Hey Sporter,

First of all, you and Sara are furnishing the board with excellent research material relative to the Iraqi dinar.

I think that I can see that you and Sara disagree regarding the causes of the Iraq war. Well, God bless you both!! Does that mean you don't have anything in common. Of course not!! You and Sara and a lot of other people on this board are in the same boat (or on the same dinar train, if you will). We have invested in the Iraqi dinar, and we are waiting to see how things will turn out.

Most of all, both of you keep posting that awesome research material about the Iraqi dinar. I come home looking forward to reading both of your posts regarding the latest happenings regarding the Iraqi dinar.

You both are honorable people. It shows in your postings. Honorable people can disagree on the causes of the Iraq war, and stay on the reason that we are here. Let's remember that our task here is the Iraqi dinar and nothing else. The world is watching. Let's show the world that we can set aside our disagreements, and keep posting about our future with this Iraqi dinar.

I think that I can speak for Bill, when I say that we are priviledged to have you both as fellow IQD investors/posters. And, I can honestly say that I would be less informed without both of your posts. I would agree with Bill, and call you two level headed people. And, like Bill, I don't want to ignite a firestorm. Heck! I agree with all that Bill said.

And, when it comes to the Iraqi dinar, I agree with you both. Just remember: When it comes to the Iraqi dinar and it's investment potential, you both agree. Here's hoping that both of you will continue to show the world why you agree with more great postings about the
Iraqi Dinar - from you both.
GO DINAR!! :)

Well here we go again..
Nice posting with you people over the last 2 yrs, but unfortunatly, I have my bate of the BS and king of the hill battle here..
I will keep my info to myself and never return to this post..

Michael

Does anyone know an easy way to change my 25000 dinars into smaller amounts with out having to go back to the middle east?

sell them on e-bay. It works for my friend.

Why is everyone wanting to get rid of their 25000 dinar notes for smaller dinar notes.Are they deleting them sort of speak?

Forcasting what the dinar will be in 5 years is like trying to forecast what the weather will be in 5 years.

It can't be done.

The greatest minds on earth can't predict the weather or the dinar...

So, lets all enjoy our hope, dream, and visions of possible joy...These are good things to have alive in a persons heart...

Angel,

The fear is, if Iraq's econemy improves like we want it to, and the dinar increases in value, the 25,000 dinar notes will be discontinued and removed from circulation.
Kind of like the U.S. removed the 1000 dollar bills from circulation here in the U.S.

Angel,
I think that it comes down to people's personal preferences. I have bought the smaller notes, because I felt that they would be easier to cash in. Just my opinion, and I have no research at all to back that up.

Dean,
I totally agree with you. I think JB stated a while back that hope in the Iraqi dinar demands the wait.

HI ALL
I SURE HOPE THAT THERE IS NOT A WALL BEING BUILT HERE.KEEP AN OPEN MIND.RON

It is sad to read posts from many of the writers here on T&B. I have learned in this life not to follow rumors only facts. The amount of money I have invested in this venture is far less than I have loaned to family or out partying, which I will not ever get back. So what will it hurt to invest in something that may possibly make me finanially stable? This is the question to all of you who are 100% sure that this a scam. As if God came down & told you himself. Where should I invest my money then since you guys have all the answers about what is good and what is not. Time will tell. Welcome to Dinarville!!!!

Kevin what happened did all the negitive coment drive everyone away, I sure hope not. this has been a very good chat line, please every one lets not get our feelings hurt over somthing trivial, all of you please keep up the posts, positive or negative. But lets just not run each other down, you all have very good info and ideas, please post tham.

BOBBY GOOD SLAM DUNK
IRAQ STOCK EXCHANGE IS TRADING ON A PROMISE;
OPEN FROM 10:00AM TO 12:30PM MONDAYS & WEDNESDAYS ONLY 5 HOURS A WEEK ,IS TRADING A VOLUME OF ABOUT 6 MILLION A DAY.
NOW THAT IS NEWS.
WE NID HOLDERS ARE GOING TO BE WINNERS.
GOOD LUCK TO ALL RON

Both positive and negative views -- even extreme views -- are desirable here; pretending to be other people is not. I deleted posts by an imposter posing as others. I'd rather not have to be a fascist anymore.

I have decided to NOT EVER make people register; instead, I'll just smack down anybody who crosses the line -- and I set the line at impersonating others and making posts that look like useful information, but are nothing but mockery and hate.

-----

Btw, I personally think that all currency speculation is best left to full-timers at trading houses, and am very doubtful any of you will make significant gains -- even over the long term.

I've been following everyone's Dinar commentary on and off for a long time now, and I've learned a lot from you. However, I have seen little reason to believe that a spectacularly successful democratic transition, and even an unexpected outbreak of peace, will budge the Dinar-dollar exchange rate.

Outside the discovery of unknown sources of oil, or an economic expansion not seen elsewhere in the MIddle East, I do not see aggregate demand for Dinars increasing relative to the aggregate supply.

Frankly, I don't even know what you all could write to convince me that the NID is even remotely likely to increase in value relative to the dollar and/or the euro.

Convince me, if you think you can... But remember, I'm an economist, not a currency speculator.

All the best -- Kevin

KEVIN BRANCATO, COME ON MAN, YOU KNOW IT WILL PEG, IT'S JUST A MATTER OF TIME AND HOW MUCH. THE REAL RISK IS OVER.

ALL YOU NEGATIVE PEOPLE , BRING IT ON

That's good that there are alot of people not investing in the NID. More power for me...I'll be laughing all the way to the money exchanger! Then, finally, cruising in my Twin Turbo Porsche; 700 HP. It's all GOOD. Don't hate the player, hate the GAME!

I suppose we have differing views, Kevin, but that is ok.

You may be impossible to convince, but I was looking over an older article from last year about how pleased the Iraqi people were that the Dinar was at the 1500 mark, which is still basically where it is at now, it has not slid down.

It mentions the neighboring countries snapping up the Dinar. I know of a person whose relatives had to travel two countries away to purchase Dinars and from there he called over here to tell this person that everyone over there is buying them, and that he should buy them also. This caller had to risk life and limb for something we can so easily obtain. It is a shame that we take the ease with which we are blessed in our ability to buy the Dinar for granted.

I liked and agreed with the final comment by Alaa Mandalawi in the following article and thought the article still relevant and worth quoting here. :)

Sara.
-------

Dinar boosted by growing confidence in Iraq recovery
Reuters, 01.12.04, 6:36 AM ET

By Suleiman al-Khalidi

BAGHDAD, Jan 12 (Reuters) - Iraq's dinar currency climbed back to 1,500 to the dollar last week, the postwar high reached a month after the fall of Baghdad, helped by growing confidence that the country is on the path to recovery, traders said.

The dinar has risen steadily in recent months after falling back to 2,200 last year on concerns about security. It was at 2,000 during the final year of Saddam Hussein's rule.

Currency traders say that for the first time since the end of major combat last April more Iraqis are holding on to the dinar as a savings vehicle after years of hoarding dollars.

"Before, at the end of a working day, I wouldn't keep my Iraqi dinars and would change them to dollars. Now I am increasingly keeping my holdings in the dinar," said hotel owner Alaa Jabari.

Demand for the dinar has been boosted by a surge in currency smuggling which has seen hundreds of millions of dinars taken to Kuwait, Jordan, Egypt and the other Arab states, traders said.

"There is strong demand from neighbouring countries. They think the dinar is undervalued compared to the dollar and they expect the dinar to rise in the medium and long term," said Mohammad Hassan al-Jashmae, who runs a currency exchange firm.

Bankers say that by pushing the dinar to around 1,500 to the dollar, Iraq's central bank has attained its initial target to bolster the local currency, a step towards beefing up the incomes of state employees whose salaries are now paid in dinars.

As the new currency began to be introduced, the central bank began intervening in the foreign exchange market for the first time in years, selling dollars from the country's oil revenues to strengthen the dinar.

The limited circulation of the new currency as compared to the open-ended printing of old notes by Saddam's political leadership has also helped the dinar.

"Printing is limited, it's not like before when it didn't have any value and was printed in abundance without meaning because somone high up in Saddam's circle wanted to pump in money for the war effort," said Firas Shabaan, another currency trader.

For many Iraqis the strengthened dinar is a sign their potentially rich country is on the path to recovery.

Many remember the 1980s when the dinar was worth three dollars before war and sanctions caused its collapse.

"We have our dignity ... Our dinar will go back to its strength one day when one dinar was worth three dollars because we are a very rich country," said dealer Alaa Mandalawi.

Copyright 2004, Reuters News Service
http://www.forbes.com/business/newswire/2004/01/12/rtr1206675.html

A Sad News

http://www.iwpr.net/index.pl?archive/irq/irq_121_5_eng.txt

Yes, sherii, that one was sad, no one killed, but damage caused from fires. However, this one, from the same site, says that Iraqis will most likely be the ones who get the rebuilding contracts, so it might mean MORE employment, not less, as a result of the fires. This is because this article says, "local firms will now be given priority for rebuilding projects". :)

Iraqi Firms Get Reconstruction Fillip

By Daud Salman in Amman and Baghdad (ICR No. 121, 19-Apr-05)

Frustrated by poorly-performing American companies, the US government is to concentrate on aiding local efforts to rebuild Iraq.

Iraqis are to play a bigger role in the post-conflict development of their country following Washington’s recent decision to refocus its Iraqi reconstruction policy.

The change in US policy emerged last week when a State Department decision to place a greater emphasis on hiring Iraqi companies - which have not been as hard-hit by insurgents nor cost as much as their US rivals - was made public.

Iraqi businesses are keen to play a major role in reconstruction, as a recent trade fair in Amman devoted to the process testified. Nearly, nearly a thousand firms from Iraq and its neighbours attended the event.

The April 4-7 fair gave potential investors, company executives and government officials an opportunity to network and set up business deals focusing on the rebuilding of Iraq’s construction, security, health, electricity and agriculture sectors.

Around 832 million dollars has since been moved from cancelled water and electricity projects to fund the recruitment and training of Iraqi workers, and local firms will now be given priority for rebuilding projects.

Only a fifth of the 18.4 billion dollars earmarked by the US for Iraq’s reconstruction has been spent to date. So far, the international community has pledged a total of 33 billion dollars toward the rebuilding process.

The pace of reconstruction has remained slow. Iraq’s construction and housing minister Omar al-Damluji admitted, “The implemented projects haven’t reached the required level.”

The country’s development minister Mahdi al-Hafiz says there’s a need to concentrate on getting people back to work. “There should be an increase in the number of projects designed to decrease the volume of unemployment,” he said. It is estimated that Iraq’s unemployment rate stands at around 30 per cent.

Slash Norty, an official in the US Department of Commerce for Middle East Affairs, acknowledges that the poor security situation was continuing to cause problems for reconstruction efforts, but insisted progress had been made.

“A lot of changes have happened during these two years [especially in relation to] investment, taxes and the banking industry,” he said.

Daud Salman is an IWPR trainee in Baghdad

http://www.iwpr.net/index.pl?archive/irq/irq_121_6_eng.txt

Positive news out of Iraq...

Bush hails new milestone in training Iraqi forces
(AFP)23 April 2005

WASHINGTON - US President George W. Bush on Saturday hailed what he saw as a new milestone in US efforts to form a viable Iraqi security force, pointing out that for the first time since the beginning of the war, Iraqi troops and police now outnumber US forces in the country.

The statement came a day after the Pentagon announced that the number of “trained and equipped” members of the Iraqi security forces had now exceeded 155,000, while US troop strength went below 140,000 this week following the departure of more units from the country.

“Today, more than 150,000 Iraqi security forces have been trained and equipped, and for the first time, the Iraqi army, police, and security forces outnumber US forces in Iraq,” Bush said in his weekly radio address.

He said that as Iraqis assume increasing responsibility for the stability of their own country, their security forces are becoming more self-reliant and taking on greater responsibilities in combating insurgents.

“Like free people everywhere, Iraqis want to be defended and led by their own countrymen,” the president said. “We will help them achieve this objective, and then our troops will come home with the honour they have earned.”

US plans call for training and equipping 271,000 members of the Iraqi military and police by the middle of next year, enabling them to take over many of the combat duties performed today by US-led coalition forces.

A senior US defense official acknowledged the capabilities of Iraqi police and other security forces “vary from unit to unit.”

But the official pointed out that between 1,500 and 3,000 soldiers and police were joining the country’s forces weekly and “the trend is clearly positive.”

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/April/focusoniraq_April109.xml§ion=focusoniraq

'Deal reached on Iraqi government'
By Luke Baker
April 24 2005 at 01:18PM

Baghdad - Iraqi leaders will announce a government within days and no one from caretaker Prime Minister Iyad Allawi's party will be in the cabinet, lawmakers and people involved in the negotiations said on Sunday.

"Allawi will take no part, his party will have no ministries," a senior official involved in the talks told Reuters, saying the decision had been taken after another round of negotiations on Saturday that lasted more than 10 hours.

"There are still some details to be worked out, but the announcement of the cabinet should be made by Monday," he said.

As talks ended on Saturday, Allawi issued a statement urging all parties to speed up the formation of the government "for the good of the country".

Thaer al-Naqib, Allawi's spokesperson, said that if members of Allawi's party were not included in the cabinet, he would still give the government his support.

Allawi, whose party won 40 of the 275 seats in parliament, had said he would only participate if his party got four ministries, including either the defence or interior post.

The main Shi'a alliance, which is the most powerful force in Iraqi politics, said Allawi was asking too much and his demands could not be met. Jaafari is a member of the alliance.

The Kurds, who came second in the election, wanted Allawi, a secular Shi'a close to Washington, in the government as a counterweight to the Shi'ite bloc, which is mostly religious.

But in the end they determined that forming a government soon, and ensuring that Sunni Muslims were also included, should be the priority, even if that meant leaving Allawi out.

There were concerns that if the delays persisted, Jaafari would fail to form a government by the May 7 deadline, meaning a new prime minister would have to be chosen, potentially throwing the country into even deeper uncertainty.

"It will be a real political crisis and maybe a disaster if Jaafari doesn't meet the deadline. It is not an option for us," Barham Salih, a leading Kurdish official involved in the talks, told Reuters late on Saturday.

"Iraq needs a government and the delay is not justified anymore," he said.

If a government is announced in the next couple of days, it is expected that the Shi'ite alliance will end up with 17 of around 32 ministries, including the Interior Ministry.

The Kurds are expected to receive eight posts and the Sunnis - who won only 17 seats in parliament but who all parties are determined to involve in the government so as not to ostracise them - would take the remainder.

However, it is still not clear how the other two most contentious ministries, Oil and Defence, will be distributed.

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw1114340581713B262

Bill;

You are right. Money and the criminal element, not purely religious motives, are often the motive of Insurgents.

Shia Iraqi hitmen admit they were paid to join Sunni insurgency
By Akeel Hussein in Baghdad and Colin Freeman
(Filed: 24/04/2005)

Iraqi Shias have admitted taking part in brutal attacks on members of their own religious community after being recruited as paid hitmen for the Sunni terrorist leader, Abu Musab Al Zarqawi.

The confessions to their involvement in murders, kidnappings and car bombings have shocked fellow Shias, who until now have maintained that most of the attacks against them have been carried out by Sunni insurgents intent on starting civil war.

According to statements given to the Iraqi police, gangs of Shia men have admitted taking $1,500 a month - about 10 times the average wage - from Zarqawi's Tawhid and Jihad movement, the al-Qa'eda offshoot widely held as the most ruthless insurgent group in Iraq.

Zarqawi, believed to have been responsible for the beheading of the British hostage, Ken Bigley, last year, makes no secret of his hatred for Shias, whose religious creed is seen as a form of apostasy by followers of his extremist Sunni creed. Over the past year his group has killed hundreds in kidnappings, car bombings and beheadings.

The revelation that Shias themselves had been directly involved in the killings came in a series of dramatic confessions on Terror in the Hands of Justice, a programme broadcast on Iraqi state television in which captured insurgents are quizzed about their crimes. During the broadcast, two cells of Shias admitted being in the pay of Zarqawi.

One self-confessed hitman, who identified himself as Ali Mehdi, a taxi driver from the holy Shia city of Kerbala, said he had led a local cell of four Shia insurgents.

"One time, we captured a minibus with seven soldiers from the Iraqi National Guard in Kerbala," he said. "We drove them into the woods and interrogated them and then shot them with machine guns and threw them into a nearby river."

Mehdi also claimed that his cell took part in mortar attacks on the Black Watch regiment during their temporary posting last November in Latifiyah, south of Baghdad.

Asked why he had carried out attacks on his own people, he said he had been attracted by the salary and the chance of becoming an insurgent "emir" - the title given to fighters who can prove they have killed 10 people or more.

Claims made on the programme are sometimes viewed with scepticism because of suspicions that suspects are beaten into making their confessions. In the case of Mr Mehdi and his accomplices, however, a witness to a kidnapping is understood to have identified the men as being responsible.

http://news.telegraph.co.uk/news/main.jhtml?xml=/news/2005/04/24/wirq24.xml

I think it helps to see what the leaders of Iraq are thinking, rather than just the Western viewpoint. .

Iraqis take up gauntlet
By Sharon Behn
THE WASHINGTON TIMES

BAGHDAD -- Iraq's top two leaders called for jump-starting the nation's court system and revamping security forces to end the bloody insurgency and open the way for U.S. troops to come home.

Iraqi President Jalal Talabani and Prime Minister-designate Ibrahim al-Jaafari, in exclusive interviews over the weekend with The Washington Times, each told of their desire to reach out to politically isolated Sunnis and include them into their effort to move the war-torn nation forward.

Mr. al-Jaafari, the moderate Shi'ite cleric who is a member of the Dawa Party, which opposed Saddam Hussein, said the first step toward eradicating the cycle of street violence would be to jump-start the court system and start prosecuting criminals to deter crime.

"We believe if this becomes evident to people that we are pushing this process and that we are serious about it, this will deter others and will reduce the crime rate," he said.

Mr. Talabani emphasized bringing the insurgency under control.

"We need to rebuild our security forces on a new basis. In the beginning, the security forces were built on the wrong basis: They were gathered from the street, regardless of their loyalty to democracy, to the new regime or their relation to the old regime," said Mr. Talabani.

Both Mr. Talabani and Mr. al-Jaafari, who have been working 14-plus-hour days meeting with an array of ethnic, tribal and religious leaders, as well as with technocrats, emphasized the importance of the next 10 months as they lay down the foundations for a new Iraq.

Although they agreed that they would not be able to resolve all the complex issues facing Iraq in the short time until the next round of elections will be held, the year would be a crucial tipping point in ending the violence and pushing Iraq forward.

Iraqis on the street say that increased Iraqi police and army presence on the streets has improved overall security during the past few months.

"The election was a turning point. The Sunnis have started to regret that they didn't participate in the election, and [now] many groups of them want to participate in the new process and want to participate in calming down their areas," Mr. Talabani said.

He added that as president he would likely declare an amnesty for many of the 10,000 prisoners, many of whom were members of political parties caught in wide-net raids and not guilty of killings.

http://washingtontimes.com/world/20050418-123701-7455r.htm

NEWSWEEK INTERVIEW: Ibrahim Jaafari, Iraqi Prime Minister

NEW YORK, April 24, 2005 /PRNewswire via COMTEX/ -- As incoming Iraqi Prime Minisiter Ibrahim Jaafari and his fellow Shiite politicians scrambled to form a government last week, he sat down with Newsweek International Editor Fareed Zakaria and Correspondent-at-Large Rod Nordland and talked about the historic significance of the Shiites ruling Iraq. "Shiites -- in their political agenda and their actions -- do not desire to rule Shiites alone, but to rule all of Iraq," he tells Newsweek. "Thus it will be a civilized and modern agenda that accommodates all Iraqis. We suffered from [a] factional oppression and do not wish to replace it with a new one. We insist on forming a multicommunity government for the cabinet we are about to form, in a way that will reflect the demographic nature of the population," he says in the May 2 issue of Newsweek (on newsstands Monday, April 25).

Jaafari says that even though some Shia politicians complain about the infiltration of the security services by Baathists and former regime elements, his government's concern will remain crime. "We are not sensitive about Sunnis because they are Sunnis. We're concerned about cases where people were involved in committing crimes, such as the local wars in Kurdistan, mass graves, executions, assassinations or proven association with Saddam. People who serve patriotically will not only be depended upon, they will also be protected." As to fighting the insurgency, he says his government will address the deeper reasons behind the phenomenon, "by fighting unemployment, creating strong relations with neighboring countries, trying to improve education, as well as strengthening and reinforcing the security forces."

As for the presence of multi-national forces in Iraq, Jaafari says he expects them to be present until the end of 2005 to assist Iraqi security services. "... although this period might witness the beginning of the evaluation of the efficiency of the Iraqi forces, which in effect means the beginning of scheduling a timetable for the withdrawal." And he adds that his government will only commit to a U.S. military base in Iraq if the National Assembly decides to do so.

http://www.msnbc.msn.com/id/7614137/site/newsweek/
SOURCE Newsweek
Rosanna Maietta of Newsweek, +1-917-533-1097

http://www.investors.com/breakingnews.asp?journalid=27184292

A successful person is one who can lay a firm foundation with the bricks that others throw at him or her.
~David Brinkley~
---
Thales of Miletus was often dismissed as little more than a flighty philosopher; his supposed wisdom, his detractors declared, was of little practical use.

Thales' reply?

Using his knowledge of meteorology to forecast a bumper crop of olives, Thales cornered the market for olive presses, charged exorbitant rates for their rental, and, having become extremely wealthy in less than a year, sold his presses and promptly returned to his true love: Philosophy.

Kevin:
I find your post very interesting,and puzzling.
First,thank you for clearing up the non-dinar chatter on the board. I agree with you on extreme views either way, if they are written in a way that does not disrespect other writers.
I see by your comment, you as an economist have some doubts about the dinar increasing in value.
Well! I really don't think you are at the head of the line on that issue. Even we, who bought the dinar knew before we exchanged USD for the Dinar that it was a cornfield dove shoot, and we really didn't know if we are going to bag anything on this foray or not.
You ask or issued a challenge for someone to convince you the dinar will increase in value. I really don't believe that is the purpose of this board to convince anyone of what they should believe or disbelieve. So whether you believe the dinar will increase in value or not is really of no real concern to us.
We as board writers, use the board to exchange information that is coming out of the middle east,and Irag that may affect the dinar, either negative or positive.
Now being that you are an economist, I find your position interesting, when it appears the GCC is moving forward on their Union Currency.As someone who is not well versed in economics,it is my view that if Irag is accepted into the GCC, and their currency is brought into line with the value of the other GCC countries, the iragi dinar can't but help increase in value.
You could enlighten us on your opinion as a economist,as to how the Union Currency might affect the dinar if any, and why you think that way.
It would be interesting to get your perspective if you are willing.

How do we feel on Veteran's Day?

How do you feel when Veteran's Day comes around? Do you ever really consider the price paid in blood to found and protect the nation of freedom you enjoy?

As I look at Iraq and the people being killed there, I see in the future Iraqis standing for two minutes of silence on their Veteran's Day, to remember the brave men, women and children.. who today are dying in the just cause of bringing liberation, freedom and democracy to the land of Iraq.

Iraq will have war memorials - plaques at the mass grave sites describing the evils under Saddam, plaques commemorating the deaths of non-combatant men, women and children, plaques in Mosques showing where those at prayers died and were injured in the cause of bringing peace.. many commemorative places to remember war crimes such as those described daily in the news.

This is history. These zealots will indeed be remembered, but not as they envision themselves to be remembered. More like Hitler's SS are remembered, as defeated, evil men... in that future, peaceful, tolerant age. Thus has it always been when good struggles against evil.

Kevin,

I'm with Carl. I'd be very interested in hearing from: 1) The gentleman that started this website (in the first place) discussing the Iraqi Dinar - that's now been up and running strong for far more than a year now; and 2) From an experienced/practicing economist such as yourself.

Also, to help us understand your perspective that much better, would you please explain your background in economics for us.

"Websters" explains Economics as: The science that deals with the production, distribution, and consumption of commodities.

Based on the three verbs Websters uses to describe economics, I'd say the future of the Iraqi Economy looks rather bright. Hence, the IQD increasing in value.

Case in point - Iraqi Resources: Minerals Deposits, Oil, Natural Gas, Fresh Water, Farm Land, Tourism (once the violence subsides), People (inexpensive sweat shop labor). I've probably missed one, or two, but I think I hit the most relevant ones.

Please clue us in on whatever it is we've overlooked...

Cheers,

Bill

just pay the taxes, live guilt free
http://www.bladenews.com/vault/cgi-bin/bowie/view/2005B/04/14-06.HTM

Good link SNAFU!

Canada and Kuwait are looking better, and better, and better, and better...

Bill

Sarah-just browsed through the comments this morning and spotted the URL. Thank you.

All GCC countries are already pegged to the dollar (the fact of which has considerably lowered real interest rates). I'd argue that in essence, Iraq is already pegged to the dollar, too, even though all of you bought at sometimes highly varying exchange rates...

The question for the value of your investment really is, which fiscal and trade policies will the governments of GCC countries and Iraq have to enact in order to make this feasible? How will these affect exchange rates with the US?

In the case of Iraq, I don't think that massive changes in the value of the NID are in order. Is the 1460NID/$1 exchange rate compatible with the exchange rate pegs of the other GCC countries? I doubt that there's any imbalance, or people would be engaged in endless arbitrage at the official exchange rates (buying low and selling high).

If Iraq's currency is to rise against the dollar, I'd argue that all GCC currencies would have to gain against the dollar.

So switching to a common currency -- with or without Iraq -- will not cause an influx or exodus of capital funds, which would affect exchange rates. However, a common currency will increase intra-GCC production due to no-exchange-cost free-trade. Iraqis will be better off after the union, but their additional economic growth will happen only after they've required you all to trade in the NID.

In addition, to make sure that GCC member governments don't screw things up after 2010, I think the common currency will ALSO be pegged, perhaps to a Euro/Dollar basket, but this is not certain.

I found this article (warning, PDF) on the GCC currency to be insightful on this matter.

-----

Finally, I didn't mean to present myself as an authority in anything. I hate authorities. I'm an economist by training, and will be defending my Ph.D. dissertation from George Mason University next Friday. For those who need details, my CV is available on my webpage.

My views on the NID are made from my personal experience, as well as lots of reading done in international macroeconomics, banking and finance, and other literatures.

-----

I'm going to leave you all alone for a while. I wish you all the best of luck; email me if there are any problems...

Thanks Kevin,

I know you're a busy person, and I thank you for taking the time to answer us.

Your opinion is based on your professional experience - not calling you an expert, or anything; especially since you don't like the title - but you are educated in these matters where many of us are not.

Now...

There are others that post here on the site that have professional/semi-professional backgrounds in economics too. You've read Kevin's comments and opinions (above) ...what say you??? Do you agree, or do you feel Kevin has missed the mark somewhat; and if so, why do you feel that way???...

This new thread, within the thread, will make for good debate as we begin to get other economic types to weigh-in on this.

Please, John Larue, or anyone else with more than a jouneyman's background in economics (I do not have a background in economics, save that one semester I took ...way back when), that can speak logically to either substantiate Kevin's views, or refute them - please, let's hear what you have to say.

Cheers,

Bill

"The only imaginative fiction being written today is income tax returns."

~ Herman Wouk ~

:)
---------------

My thoughts on Economic Opinions...

There are economists who say the economic outlook for the US is rosy, and then there are others who say it is bad. Then there are some in the middle. It is an opinion, an informed opinion, but an opinion. Economists do not all agree on their economic OUTLOOKS. It isn't a precise science so as to say.. ALL economists KNOW this for sure.. more like, Economists think this or that, is what I am saying.

The FACTS we can agree on. But the interpretation of those facts, and how they apply to a future outcome, we differ on. If the experts were all right all the time.. they would all be billionaires, right? And, I ask, how many economists PREDICTED.. or made money on the Kwaiti devaluation of their currency and then rebound during the Gulf War? Who were the guys who made money on that deal, by the way? What did they do for a living?

So, as far as Economists are concerned, they each take an "educated guess", and that is an informed way of going. But it isn't ALWAYS right, even when there is concensus between them, is all. Things do happen which are not predicted in economic terms, according to their models of the future. Kevin could be right in his economic predictions.. or not. Whether you believe his view or not is up to you.

I don't need to tell the board where I stand on the Dinar.. :) I still think the future for the Iraqi Dinar, both short and long term, is rosy, as I said before. To me, Kevin's opinion is more of the same negative opinion I have always heard from many sources. It hasn't changed my view one notch. I disagree with him, but respect his educated opinion.

If you are going to do your taxes, you go to a tax preparer, because you think him more informed. People in a field can be helpful and useful to you. I certainly believe in making use of experts in a field, and in paying them well for that service. But in the area of stocks or currency speculation, where we are not dealing with the last year's transactions (as when you go to the tax preparer for tax purposes) but where we are dealing with the open-ended future as to whether a stock or currency will appreciate in value, financial numbers about other situations in the past are a little misleading. Statistical analysis (which is the basis of Economics) may not predict future trends when a war-torn country is put back together again. Certain countries, such as Japan, Germany, and Kwait, have all had war with rebounding currencies which were very strong. In those cases, currency speculators did make a great deal of money. I am sure you could quote banana republics in South America or Africa who had war with little rebound after it. I think many on the board here have tried to differentiate for the board why we think Iraq is not in the category of a banana republic.

What makes this speculation interesting is that we are NOT dealing with a statistical analysis which can be put into a formulae and presented to us in a definitive way. That is because so much of the data depends on that which is outside the realm of statistics. For instance, Kevin is of the opinion that if the Insurgency negotiated peace tomorrow, that Iraqi Dinar would not change dramatically in value. I am of the opinion it would make a dramatic difference in the economic fortunes of the Iraqi Dinar should that event actually happen. Of course, that would take peaceful negotiations, or the capture and death of many key Insurgents... much like Saudi Arabia has done with getting its 25 out of the 26 insurgent leaders it set out to get.

And an important thing to me is that, if the Dinar ONCE was worth 3.00 US, and is now worth 1460 Dinars to the dollar.. is that value artificially low? What caused such a vast devaluation of its worth? Has its GDP and export capacity dropped THAT MUCH (apart from the Insurgency sabotage causing some drop in production, I mean). Is the Iraqi Dinar truly being traded at its real value now? If so, why did it trade at 3.00 US once before.. what accounts for this vast change in fortunes? If the Dinar is at its real value now we will see no increase in value. But if not.. then we are in another Kwaiti situation, and a small amount of speculative investing now, could pay off for a pretty bright future for those who wish to venture it, don't you think?

Sara.

http://truckandbarter.com/mt/archives/000502.html#9947

The dinar NEVER Inter bank Traded at 3.00.
This is a myth and was invented to sell dinars to people
Get it and get over it

What on earth happened today-the dinar to a DROP-any ideas why? Thanks

FORBES magazine and Reuters reported it wrong?
QUOTE:

Many remember the 1980s when the dinar was worth three dollars before war and sanctions caused its collapse.

"We have our dignity ... Our dinar will go back to its strength one day when one dinar was worth three dollars because we are a very rich country," said dealer Alaa Mandalawi.

Copyright 2004, Reuters News Service
http://www.forbes.com/business/newswire/2004/01/12/rtr1206675.html

kuwait myth

Why you can't make to comparisons - Iraq with Kuwait

--------------------------------------------------------------------------------

Due to lack of experience, some speculators thought that with the war over, the Iraqi dinar would strengthen like the Kuwaiti dinar after the 1990-1991 Gulf War. But the Kuwaiti dinar was always a strong currency and the invasion there was short-lived, unlike Iraq.

http://www.bankintroductions.com/kuwait.html

IMF History

http://www.imf.org/external/np/tre/...sition_flag=YES
-----

-The infrastructure & banking system remained intact,unlike Iraq
-The government remained stable,unlike Iraq
-The GDP and Oil production resumed normal operations within 7 months
-The Government never officially devalued the KWD,the people lost confidence in the dinar,and uncertainty of the future and sold for USD at a lower rate(0.10 -1.00 USD)
-The Government reissued the Currency in a 4th issue at the previous rate prior to Gulf War.

Conversion Table: USD to KWD
and KWD to USD (Interbank rate)

http://www.oanda.com/convert/fxhistory

currency tools-FX history- oanda.com
set starting date:07/01/90 and ending date: 03/03/91.

07/30/1990 0.28950-07/31/1990 0.2880-currency per U.S. $
3.41880-U.S. $ equivalent
03/28/1991 0.29050 03/29/1991 0.29050-currency per U.S. $
3.4790-U.S. $ equivalent

Central Bank Kuwait-http://www.cbk.gov.kw/WWW/index.html

under market data, click:exchange rates- click:Avg. KD/USD Exchange Rate for history
this third issue was
withdrawn from circulation effective March 24, 1991 when the 4th issue was introduced
The unit of currency in Kuwait is the Kuwaiti Dinar (KD), divided into one thousand Fils.
rate is set at 299.63 fils per dollar with margins of ±3.5%.

Sara-
That article was reporting/quoting what currency dealers said ....(i.e.; 'Bourse Heads',thats how they make their living) selling dinars & currency)
If you do your research,you'll find that the dinar was only officially at the 3.00 value by Saddam
There was always a black Market rate (for the last 30 years)
which canceled out any Government official rate

the 3 USD/1IQD was a mirage

Jake

http://truckandbarter.com/mt/archives/000502.html#9947

Sara-read this post above and source data noted

Jake

JakeH;

Even IF I agreed with your assessment.. which I do not, that does not affect definitively the future value of the Dinar, does it? Arguing about the past value will not affect the future value.

However, might I point out that when it was pegged to the British pound, once, and was disconnected from it, that it remained at that value FOR YEARS? How do you explain that, since Saddam was not in power at that time?

That information was just slightly before your posted url. Are you saying this was a FALSE value for these years?

1932–1949
When officially introduced at the end of the British mandate (1932), the dinar was equal to, and was linked to, the British pound sterling, which at that time was equal to US$4.86.
1949–1971
Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80 between 1949 and 1971.
1959–1967
Iraq officially uncoupled the dinar from the pound sterling as a gesture of independence in 1959, but the dinar remained at parity with the pound until the British unit of currency was again devalued in 1967.

Sara.

As for your soliloquy of:

Why you can't make to comparisons - Iraq with Kuwait

No one has said they are EQUIVALENT.
We went to a lot of trouble to discuss on this board other countries and why, for instance, Venezuela is not the same as Iraq, either. Each country is unique. We are not so silly as to think Kuwait is the SAME COUNTRY with the SAME situation.. I don't think.

But to say that the Kuwaiti situation is not illustrative that after a war a currency CAN rebound, is blind.

If we look at Germany's economy after WW2, it took time for them, too. No one is saying Iraq does not have some work to be done.

Perhaps you need to clarify the point you are making.. is it that you think we are a bunch of dummies (to invest in Dinars) and you have the answer?

Sara.

Kevin;

You wrote:
"I'd argue that in essence, Iraq is already pegged to the dollar..."

I am glad you can see that what you are presenting to the board is an argument.. when you said.. I'D ARGUE.. And we can see that it is an argument that is based on certain facts, which you direct us to with urls in order to show that facts back up your informed opinion; but this argument is not a Law, nor is it irrefutable. I agree with the fact that the Dinar is pegged to the dollar.. but in my opinion, that does not mean it will stay that way, or at the value it has now against the dollar (for many reasons).

You also wrote:
"The question for the value of your investment really is, which fiscal and trade policies will the governments of GCC countries and Iraq have to enact in order to make this feasible? How will these affect exchange rates with the US?"

Note the FUTURE relation of these questions.. "Which... policies WILL the GCC countries.. enact" (in the future) and "how will these affect exchange rates" (in the future). You are, again, like the rest of us, attempting to predict future events. Your opinion is indeed informed from facts, but I again differ on how you interpret the future to play out using these facts.

"In the case of Iraq, I don't think.... I doubt ... I'd argue...perhaps... but this is not certain" are all subsequent phrases from your post which shows that you are not holding yourself out as the Be All and End All... the LAW of all opinions, simply because you are an Economist. I respect your views, though, as I said, I differ with them (as do many on the board).

As you said:

"... I didn't mean to present myself as an authority in anything. My views on the NID are made from my personal experience, as well as lots of reading done in international macroeconomics, banking and finance, and other literatures."

Thus, for those intimidated by you and who are saying they will never post here again, please realize that our benefactor here, Kevin, is speaking as a person to us, not as an expert; that he speaks from personal experience, and information from his background. I am not trying to personally attack you, Kevin, by pointing this out. I am merely trying to point out that your post, and beliefs, are not definitive for the board, even though you are the author of this board, and by doing so I am truly hoping that we will not lose these persons' valued contributions.

Sara.

I'm sorry am i missing something? I mean has anyone said why they think the value of dinar should increase relative to dollar, as Kevin said he sees no economic reason for it to do so?

Not criticizing... it's entirely possible i'm missing something; i have an attention disorder AND i'm trying to quit smoking. Still reading the posts since Kevin's looks like just more qustions, and/or "I think" differently, but no specifics why.

Not to be negative, heaven forbid. Personally i'm waiting as patiently as possible for the ISX to open to foreigners, as i said some time ago i think we'd all be in better shape if we put our dinar /back/ where it does something useful, rather than sit in shoeboxes which after some pondering, seems entirely to easy and simplistic, to me.

As for my own speculation "why" dinar might appreciate, seems to me as Iraqis prosper, they're gonna want more stuff, and they can't very well import much stuff with their currency so extremely low. I think... unless they get paid six figures of dinar/week.

Which i suppose just amounts to another question... i mean i don't know how many dinar it costs for a gallon of milk in Iraq, but at this point would seem they'd have to take tens of thousands to grocery shop for the family, and what on Earth would you get done with a fifty fil coin?

ISX

Just a quick take on the ISX. With no change to the Dinar exchange rate to other major currencys, the Iraqi's will not control their own destiny as I would imagine, the rest of the World would own everything of value in Iraqi (excluding natural resources).

Sara,

Good points. Let me rephrase it for everybody:

I AM NOT AN EXPERT -- I HAVE NO CRYSTAL BALL!

Those not invested in NID might have avoided it because we perceive a "large downside risk" (as Greenspan might say), but we might also be freaking clueless.

I'd be the first to tell you and the rest on T&B that an economist is NOT an investment advisor. I have made good investments in my lifetime -- like when to pull out of a stock market, and when to purchase real estate -- but all of these were by chance, not by accurate prediction.

As I have written before, I have not invested in NID, and I have nothing to gain or lose by being wrong in my analysis and forecast.

A GMU Econ degree teaches one thing above all else: those who participate in markets -- those who put their money on the line, and who stand to lose and gain -- are the one's who you should be following.

There are those like me, who stand on the sidelines, and pronounce our expert judgment. Our interest is not the same as yours. A speculator wants to make money; an economist wants to understand how and why you did it.

All the best...

ITS GOOD TO SEE SOME INTERESTING POINTS BEING MADE ON BOTH SIDES WITHOUT WRITERS ATTACKING EACH OTHER PERSONALLY.
The question is simple:
From your prospective, is your glass half empty or half full?
For each writer, it depends on how they view the glass as to how they see the level of water.
Some view the dinar with a negative slant, and with doubt.They end up stating the dinar will never increase in value, and is a blind hog headed toward the cliffs edge.
Now! Kevin gave a lot of general statements, but nothing specific, other than to say the dinar is already peg to the dollar, and he can't see how joining the GCC will help the dinar. He didn't give any specifics, so I don't have a clue what reasons his has for his opinion,But you know he could be right.... but again ..ya know... he could be wrong too..
I know from my research, there are many strong reasons why the dinar should increase in value. I think the biggest, is the GCC Union currency. The entire purpose of the GCC Union currency is to increase those countries trade in other areas beside oil. Irag has more potential that any of the GCC countries in balancing their economy with other exports besides oil.
In my opinion, Common Sense would indicate the GCC countries will pick a dominant country, and they will use that dominant country's present value and it will be peg to the USD. The only way the dinar would not increase in value is if the GCC picked Irag as the dominant country and the official union currecy was 1460 to a dollar. This would mean all of the other GCC countries currency would be devalued. The odds of that happening is going to be slim and none.
Some writers and readers are going to have doubts whether they should keep the dinar or sale it.
As for myself...I have never lost faith in the Iraqi People, and their desire to become a major player in the middle east. I do know this..because you