Truck and Barter: Iraqi Dinar - Discussion & Commentary

Iraqi Dinar - Discussion & Commentary

By Kevin

THIS POST IS CLOSED TO NEW COMMENTS. A new post has been created: Here's a link to the current active post.

Here are all the posts in sequence:

1) June 16, 2004 - June 27, 2004
2) June 27, 2004 - November 6, 2004
3) November 6, 2004 - April 11, 2005
4) April 11, 2005 - June 22, 2005
5) June 22, 2005 - July 22, 2005
6) July 22, 2005 - April 30, 2006
7) April 30, 2006 - July 13, 2006

8) July 13, 2006 - ...

If you guys & gals encounter any problems, email me at kevin-at-truckandbarter.com. Your previous email has been very helpful in the administration of this site.

Thanks for your patronage.

-- April 11, 2005 4:05 PM | Permalink

Comments

Sara Madgid wrote:

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

-- April 11, 2005 5:27 PM ∞

sporter4551 wrote:

A new thread a new promise.

Let's keep the information flowing.

Regards

-- April 11, 2005 5:39 PM ∞

sporter4551 wrote:

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.

-- April 11, 2005 5:51 PM ∞

sporter4551 wrote:

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.

-- April 11, 2005 5:55 PM ∞

Dave A wrote:

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

-- April 11, 2005 6:22 PM ∞

Sara Madgid wrote:

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.

-- April 11, 2005 7:03 PM ∞

RON wrote:

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

-- April 11, 2005 7:11 PM ∞

carl wrote:

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.

-- April 11, 2005 7:42 PM ∞

sporter4551 wrote:

Sara:

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

Regards

-- April 11, 2005 8:07 PM ∞

sporter4551 wrote:

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?

-- April 11, 2005 8:16 PM ∞

sporter4551 wrote:

www.investorsiraq.com,

Sorry Sara,

regards

-- April 11, 2005 8:21 PM ∞

Robert wrote:

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."!!

-- April 11, 2005 8:41 PM ∞

sporter4551 wrote:

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,

-- April 11, 2005 8:49 PM ∞

Heather wrote:

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.

-- April 11, 2005 8:56 PM ∞

sporter4551 wrote:

Dave,

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

-- April 11, 2005 9:23 PM ∞

carl wrote:

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...

-- April 11, 2005 10:07 PM ∞

Michael wrote:

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/

-- April 11, 2005 10:58 PM ∞

RON wrote:

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

-- April 11, 2005 11:02 PM ∞

Dave A wrote:

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

-- April 11, 2005 11:15 PM ∞

Michael wrote:

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

-- April 11, 2005 11:30 PM ∞

heatherj wrote:

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

-- April 12, 2005 1:24 AM ∞

Michael wrote:

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..

-- April 12, 2005 1:35 AM ∞

Bobby wrote:

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

-- April 12, 2005 2:24 AM ∞

Red wrote:

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

-- April 12, 2005 10:00 AM ∞

carl wrote:

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

-- April 12, 2005 10:34 AM ∞

RON wrote:

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

-- April 12, 2005 10:42 AM ∞

Sara Madgid wrote:

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.

-- April 12, 2005 12:34 PM ∞

Sara Madgid wrote:

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

-- April 12, 2005 12:52 PM ∞

Sara Madgid wrote:

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

-- April 12, 2005 12:56 PM ∞

Dave wrote:

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

-- April 12, 2005 2:48 PM ∞

Sara Madgid wrote:

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

-- April 12, 2005 2:59 PM ∞

carl wrote:

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

-- April 12, 2005 5:27 PM ∞

Michael wrote:

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?

-- April 12, 2005 5:28 PM ∞

doug wrote:

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

-- April 12, 2005 5:33 PM ∞

Red wrote:

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

-- April 12, 2005 6:16 PM ∞

carl wrote:

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.

-- April 12, 2005 6:52 PM ∞

Sara Madgid wrote:

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.

-- April 12, 2005 6:59 PM ∞

sporter4551 wrote:

I "second" that Sara, well written!

Regards,

-- April 12, 2005 7:04 PM ∞

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.

-- April 12, 2005 7:17 PM ∞

sporter4551 wrote:

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

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

Regards,

-- April 12, 2005 8:14 PM ∞

Robert wrote:

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.

-- April 12, 2005 9:25 PM ∞

Robert wrote:

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!!

-- April 12, 2005 9:43 PM ∞

RON wrote:

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

-- April 12, 2005 10:15 PM ∞

carl wrote:

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.

-- April 12, 2005 10:18 PM ∞

carl wrote:

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

-- April 12, 2005 10:25 PM ∞

Sara Madgid wrote:

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.

-- April 12, 2005 10:34 PM ∞

Robert wrote:

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!

-- April 12, 2005 11:26 PM ∞

Ian wrote:

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?

-- April 13, 2005 1:51 AM ∞

Sheraz Ahsan wrote:

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

-- April 13, 2005 5:21 AM ∞

Sheraz Ahsan wrote:

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,,,,

-- April 13, 2005 5:27 AM ∞

Kazoo wrote:

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/

-- April 13, 2005 5:43 AM ∞

Hari wrote:

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.

-- April 13, 2005 5:49 AM ∞

carl wrote:

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

-- April 13, 2005 7:07 AM ∞

brian wrote:

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.

-- April 13, 2005 7:55 AM ∞

sheraz wrote:

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,,,

-- April 13, 2005 7:59 AM ∞

carl wrote:

Sheraz;
thanks for the information.

-- April 13, 2005 8:26 AM ∞

Red wrote:

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

-- April 13, 2005 9:11 AM ∞

RON wrote:

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.

-- April 13, 2005 10:30 AM ∞

Dave A wrote:

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

-- April 13, 2005 11:06 AM ∞

Sara Madgid wrote:

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.

-- April 13, 2005 11:47 AM ∞

Dave A wrote:

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?

-- April 13, 2005 12:04 PM ∞

Sara Madgid wrote:

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.

-- April 13, 2005 12:23 PM ∞

Sara Madgid wrote:

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.

-- April 13, 2005 12:38 PM ∞

Sara Madgid wrote:

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

-- April 13, 2005 12:51 PM ∞

Dewey wrote:

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.

-- April 13, 2005 12:56 PM ∞

Sara Madgid wrote:

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.

-- April 13, 2005 1:25 PM ∞

Robert wrote:

"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".

-- April 13, 2005 2:38 PM ∞

Sara Madgid wrote:

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.

-- April 13, 2005 2:46 PM ∞

Jonathan wrote:

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.

-- April 13, 2005 3:27 PM ∞

Sara Madgid wrote:

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

-- April 13, 2005 5:19 PM ∞

Sara Madgid wrote:

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

-- April 13, 2005 5:52 PM ∞

Bill1 wrote:

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

-- April 13, 2005 6:32 PM ∞

sporter4551 wrote:

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!

-- April 13, 2005 7:11 PM ∞

sultan wrote:

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

-- April 13, 2005 8:07 PM ∞

Dave A wrote:

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.

-- April 13, 2005 8:14 PM ∞

Robert wrote:

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

-

-- April 13, 2005 8:18 PM ∞

sporter4551 wrote:

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

-- April 13, 2005 8:37 PM ∞

carl wrote:

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.

-- April 13, 2005 8:44 PM ∞

Red wrote:

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

-- April 13, 2005 9:07 PM ∞

sporter4551 wrote:

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,

-- April 13, 2005 9:11 PM ∞

Sara Madgid wrote:

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

-- April 13, 2005 9:14 PM ∞

sporter4551 wrote:

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

-- April 13, 2005 9:42 PM ∞

Bill1 wrote:

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)

-- April 13, 2005 10:15 PM ∞

RON wrote:

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.

-- April 13, 2005 10:38 PM ∞

Dean wrote:

Bill:

Ginger or Mary Ann?

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

-- April 13, 2005 10:55 PM ∞

Sara Madgid wrote:

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)

-- April 13, 2005 11:16 PM ∞

carl wrote:

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

-- April 13, 2005 11:18 PM ∞

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,,

adieu~
Red

-- April 13, 2005 11:44 PM ∞

CHAD wrote:

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.

-- April 14, 2005 12:45 AM ∞

Sara Madgid wrote:

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

-- April 14, 2005 1:10 AM ∞

guy incognito wrote:

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

-- April 14, 2005 2:02 AM ∞

Kazoo wrote:

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/

-- April 14, 2005 5:41 AM ∞

Joe wrote:

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

-- April 14, 2005 5:47 AM ∞

Johnathon wrote:

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

-- April 14, 2005 8:41 AM ∞

carl wrote:

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.

-- April 14, 2005 9:03 AM ∞

Harold wrote:

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

-- April 14, 2005 9:39 AM ∞

Gene wrote:

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

-- April 14, 2005 9:49 AM ∞

Mandrake wrote:

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

-- April 14, 2005 10:01 AM ∞

RON wrote:

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

-- April 14, 2005 10:35 AM ∞

Ed wrote:

Thanks for getting us back on track Ron

-- April 14, 2005 10:49 AM ∞

Gene wrote:

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

-- April 14, 2005 11:25 AM ∞

Sara Madgid wrote:

-----
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.
----

-- April 14, 2005 11:50 AM ∞

Ian wrote:

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

-- April 14, 2005 11:56 AM ∞

Robert wrote:

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.

-- April 14, 2005 1:04 PM ∞

Sara Madgid wrote:

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?

-- April 14, 2005 1:28 PM ∞

Sara Madgid wrote:

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

-- April 14, 2005 1:56 PM ∞

Dewey wrote:

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

-- April 14, 2005 2:38 PM ∞

Sara Madgid wrote:

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

-- April 14, 2005 2:41 PM ∞

Sara Madgid wrote:

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

-- April 14, 2005 3:05 PM ∞

Kateb wrote:

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.

-- April 14, 2005 3:27 PM ∞

proteus wrote:

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.

-- April 14, 2005 4:26 PM ∞

proteus wrote:

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.

-- April 14, 2005 4:31 PM ∞

Al Yahud wrote:

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

-- April 14, 2005 5:40 PM ∞

Bill1 wrote:

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

-- April 14, 2005 5:47 PM ∞

Robert wrote:

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.

-- April 14, 2005 6:08 PM ∞

Robert wrote:

Hey Bill,

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

-- April 14, 2005 6:15 PM ∞

Jeff wrote:

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????

-- April 14, 2005 6:52 PM ∞

sporter4551 wrote:

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.

-- April 14, 2005 7:38 PM ∞

Sara Madgid wrote:

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

-- April 14, 2005 9:03 PM ∞

Sara Madgid wrote:

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=

-- April 14, 2005 9:10 PM ∞

Sara Madgid wrote:

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.

-- April 14, 2005 10:01 PM ∞

molly wrote:

55 million dinar fit in a shoe box just right.

-- April 14, 2005 11:56 PM ∞

iAN wrote:

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?

-- April 15, 2005 1:49 AM ∞

Sam W wrote:

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

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

-- April 15, 2005 2:50 AM ∞

Sara Madgid wrote:

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

-- April 15, 2005 10:17 AM ∞

InvestorsIraqForum wrote:

"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.

-- April 15, 2005 10:25 AM ∞

Sara Madgid wrote:

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.

-- April 15, 2005 10:59 AM ∞

RON wrote:

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.

-- April 15, 2005 11:28 AM ∞

Sara Madgid wrote:

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.

-- April 15, 2005 11:31 AM ∞

al yahud wrote:

Thanks Molly.

-- April 15, 2005 12:25 PM ∞

al yahud wrote:

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

-- April 15, 2005 2:16 PM ∞

Kateb wrote:

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

-- April 15, 2005 2:30 PM ∞

Sara Madgid wrote:

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.

-- April 15, 2005 3:08 PM ∞

Sara Madgid wrote:

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

-- April 15, 2005 6:02 PM ∞

S. Guy wrote:

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 Ch�vez 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 Ch�vez'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.

-- April 15, 2005 8:35 PM ∞

Carl wrote:

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!!

-- April 15, 2005 9:12 PM ∞

newsguy wrote:

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

-- April 15, 2005 9:13 PM ∞

S. Guy wrote:

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.

-- April 15, 2005 9:17 PM ∞

S. Guy wrote:

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!

-- April 15, 2005 9:24 PM ∞

Ed wrote:

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

-- April 15, 2005 9:27 PM ∞

S. Guy wrote:

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!

-- April 15, 2005 9:34 PM ∞

S. Guy wrote:

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 Ch�vez 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 Ch�vez'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.

-- April 15, 2005 9:36 PM ∞

S. Guy wrote:

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.

-- April 15, 2005 9:38 PM ∞

S. Guy wrote:

Sara OR Sara,

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

-- April 15, 2005 9:45 PM ∞

Sara Madgid wrote:

S Guy;

Are you an Iraqi Insurgent?

Sara.

-- April 15, 2005 9:52 PM ∞

S. Guy wrote:

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!

-- April 15, 2005 9:59 PM ∞

S. Guy wrote:

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!

-- April 15, 2005 10:02 PM ∞

sporter4551 wrote:

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!

-- April 15, 2005 10:25 PM ∞

sporter4551 wrote:

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

-- April 15, 2005 10:35 PM ∞

JB Smith wrote:

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!

:/

-- April 15, 2005 10:37 PM ∞

Sara Madgid wrote:

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.

-- April 15, 2005 11:30 PM ∞

S. Guy wrote:

What was that?

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

-- April 15, 2005 11:36 PM ∞

Sara Madgid wrote:

Yes, but he was blind, you see.

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

Sara.

-- April 15, 2005 11:51 PM ∞

Carl wrote:

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...

-- April 16, 2005 12:21 AM ∞

Dean wrote:

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.

-- April 16, 2005 12:52 AM ∞

Carl wrote:

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.

-- April 16, 2005 1:46 AM ∞

guy incognito wrote:

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.

-- April 16, 2005 2:05 AM ∞

Dewey wrote:

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!

-- April 16, 2005 7:00 AM ∞

Carl wrote:

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.

-- April 16, 2005 8:39 AM ∞

Amber wrote:

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?

-- April 16, 2005 9:33 AM ∞

Carl wrote:

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.

-- April 16, 2005 9:44 AM ∞

Carl wrote:

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.

-- April 16, 2005 9:52 AM ∞

Gene wrote:

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

-- April 16, 2005 10:11 AM ∞

Sara Madgid wrote:

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."

-- April 16, 2005 10:23 AM ∞

Al Yahud wrote:

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

-- April 16, 2005 10:56 AM ∞

Robert1 wrote:

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?

-- April 16, 2005 11:12 AM ∞

Robert1 wrote:

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.

-- April 16, 2005 11:29 AM ∞

sporter4551 wrote:

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!

-- April 16, 2005 12:04 PM ∞

Sara Madgid wrote:

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.

-- April 16, 2005 12:14 PM ∞

Dave A wrote:

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. :)

-- April 16, 2005 12:37 PM ∞

sporter4551 wrote:

Dave A.

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

Sincerely,

Sporter4551

-- April 16, 2005 12:42 PM ∞

Dave A wrote:

Sporter,

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

God Bless,

Dave A

-- April 16, 2005 12:45 PM ∞

Sara Madgid wrote:

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.

-- April 16, 2005 12:51 PM ∞

RON wrote:

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

-- April 16, 2005 2:04 PM ∞

sporter4551 wrote:

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,

-- April 16, 2005 2:54 PM ∞

Sara Madgid wrote:

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.

-- April 16, 2005 3:01 PM ∞

Robert wrote:

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!

-- April 16, 2005 3:32 PM ∞

Michael wrote:

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

-- April 16, 2005 7:11 PM ∞

Gene wrote:

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

-- April 16, 2005 7:12 PM ∞

michael wrote:

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.

-- April 16, 2005 7:49 PM ∞

michael wrote:

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

-- April 16, 2005 8:09 PM ∞

Sara Madgid wrote:

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

-- April 16, 2005 8:29 PM ∞

Sara Madgid wrote:

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.

-- April 16, 2005 8:40 PM ∞

Carl wrote:

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.

-- April 16, 2005 10:24 PM ∞

Carl wrote:

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"..

-- April 16, 2005 11:04 PM ∞

Dean wrote:

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.

-- April 17, 2005 12:14 AM ∞

tommy wrote:

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?

-- April 17, 2005 12:26 AM ∞

Angel wrote:

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

-- April 17, 2005 2:05 AM ∞

Carl wrote:

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.

-- April 17, 2005 7:57 AM ∞

Robert wrote:

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.

-- April 17, 2005 8:37 AM ∞

JB wrote:

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

-- April 17, 2005 8:50 AM ∞

Carl wrote:

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.

-- April 17, 2005 9:07 AM ∞

tommy wrote:

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
----

-- April 17, 2005 9:17 AM ∞

Carl wrote:

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.

-- April 17, 2005 10:07 AM ∞

tommy wrote:

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

-- April 17, 2005 10:23 AM ∞

Sara Madgid wrote:

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.

-- April 17, 2005 10:36 AM ∞

Sara Madgid wrote:

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

-- April 17, 2005 11:17 AM ∞

JB Smith wrote:

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.

-- April 17, 2005 11:38 AM ∞

Carl wrote:

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.

-- April 17, 2005 11:46 AM ∞

Robert wrote:

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.

-- April 17, 2005 12:42 PM ∞

Carl wrote:

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

-- April 17, 2005 2:34 PM ∞

peter wrote:

Hello there,

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

-- April 17, 2005 3:43 PM ∞

Robert wrote:

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.

-- April 17, 2005 3:51 PM ∞

big country wrote:

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.

-- April 17, 2005 4:20 PM ∞

sporter4551 wrote:

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,

-- April 17, 2005 6:11 PM ∞

sporter4551 wrote:

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,

-- April 17, 2005 6:12 PM ∞

sporter wrote:

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.

-- April 17, 2005 7:08 PM ∞

Robert wrote:

sporter,

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

-- April 17, 2005 7:21 PM ∞

sporter4551 wrote:

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,

-- April 17, 2005 7:37 PM ∞

Robert wrote:

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

-- April 17, 2005 8:07 PM ∞

JerseyBoy wrote:

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%

-- April 17, 2005 8:18 PM ∞

sporter4551 wrote:

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,

-- April 17, 2005 9:13 PM ∞

Sara Madgid wrote:

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.

-- April 17, 2005 9:19 PM ∞

Robert wrote:

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

-- April 17, 2005 9:46 PM ∞

Sara Madgid wrote:

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

-- April 17, 2005 10:01 PM ∞

big country wrote:

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!!!

-- April 18, 2005 12:39 AM ∞

Chromeman wrote:

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.

-- April 18, 2005 3:17 AM ∞

Iyer wrote:

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.

-- April 18, 2005 5:57 AM ∞

Angel wrote:

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

-- April 18, 2005 7:28 AM ∞

Carl wrote:

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?

-- April 18, 2005 8:40 AM ∞

michael wrote:

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

-- April 18, 2005 9:04 AM ∞

JACKSON wrote:

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

-- April 18, 2005 9:13 AM ∞

Sara Madgid wrote:

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

-- April 18, 2005 9:26 AM ∞

Sara Madgid wrote:

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????

-- April 18, 2005 9:48 AM ∞

RON wrote:

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

-- April 18, 2005 10:19 AM ∞

Robert wrote:

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".

-- April 18, 2005 12:02 PM ∞

Sara Madgid wrote:

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.

-- April 18, 2005 12:18 PM ∞

Al Yahud wrote:

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.

-- April 18, 2005 1:02 PM ∞

Robert wrote:

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

-- April 18, 2005 2:51 PM ∞

Sara Madgid wrote:

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

-- April 18, 2005 3:28 PM ∞

Al Yahud wrote:

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.

-- April 18, 2005 3:55 PM ∞

Sara Madgid wrote:

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.

-- April 18, 2005 4:30 PM ∞

JACKSON wrote:

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

-- April 18, 2005 4:36 PM ∞

Sara Madgid wrote:

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.

-- April 18, 2005 4:36 PM ∞

Al Yahud wrote:

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.

-- April 18, 2005 6:02 PM ∞

Elliot wrote:

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.

-- April 18, 2005 6:15 PM ∞

JerseyBoy wrote:

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 ?

-- April 18, 2005 7:23 PM ∞

Sara Madgid wrote:

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.

-- April 18, 2005 7:25 PM ∞

sporter4551 wrote:

Hey Al,

What do we do with this Dinar?

Regards,

-- April 18, 2005 7:58 PM ∞

sporter4551 wrote:

Iraq Real Estate?

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

-- April 18, 2005 8:08 PM ∞

JohnLarue wrote:

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

-- April 18, 2005 8:25 PM ∞

Sara Madgid wrote:

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

-- April 18, 2005 8:27 PM ∞

Al Yahud wrote:

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.

-- April 18, 2005 8:30 PM ∞

sporter4551 wrote:

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.

-- April 18, 2005 8:48 PM ∞

sporter4551 wrote:

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!.

-- April 18, 2005 8:55 PM ∞

Hope For All wrote:

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.

-- April 18, 2005 9:16 PM ∞

michael wrote:

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

-- April 18, 2005 9:49 PM ∞

jara wrote:

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.

-- April 18, 2005 10:43 PM ∞

Dean wrote:

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?

-- April 18, 2005 11:39 PM ∞

Angel wrote:

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

-- April 19, 2005 12:08 AM ∞

michael wrote:

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..

-- April 19, 2005 12:37 AM ∞

michael wrote:

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

-- April 19, 2005 12:50 AM ∞

Nate wrote:

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

-- April 19, 2005 2:48 AM ∞

JACKSON wrote:

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

-- April 19, 2005 5:31 AM ∞

Bob C. wrote:

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.

-- April 19, 2005 5:33 AM ∞

Al Yahud wrote:

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.

-- April 19, 2005 8:15 AM ∞

michael wrote:

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!!!!!!!!

-- April 19, 2005 8:59 AM ∞

michael wrote:

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

-- April 19, 2005 9:03 AM ∞

michael wrote:

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

-- April 19, 2005 9:08 AM ∞

michael wrote:

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!!!!!!

-- April 19, 2005 9:21 AM ∞

Carl wrote:

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

-- April 19, 2005 9:26 AM ∞

michael wrote:

Great post Carl!!!!!!!!!1

-- April 19, 2005 10:03 AM ∞

Al Yahud wrote:

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

-- April 19, 2005 11:00 AM ∞

RON wrote:

CARL WHAT A GOOD POST.I AM WAITING FOR #2
MICHAEL GOOD WORK
RON

-- April 19, 2005 11:12 AM ∞

Ben wrote:

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.

-- April 19, 2005 11:15 AM ∞

angel wrote:

You are a jerk! And I hope I did offend you then maybe you !

-- April 19, 2005 11:38 AM ∞

angel wrote:

Sorry ,that was for Al

-- April 19, 2005 11:40 AM ∞

Sara Madgid wrote:

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.

-- April 19, 2005 12:12 PM ∞

JerseyBoy wrote:

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

-- April 19, 2005 12:25 PM ∞

Carl wrote:

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.

-- April 19, 2005 12:34 PM ∞

Al Yahud wrote:

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.

-- April 19, 2005 12:52 PM ∞

peter wrote:

Dear Dean,

How you know in Iraq there is 5 Dinar Pepsi? could you please explain me? if you dont mind.

-- April 19, 2005 1:19 PM ∞

Angel wrote:

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.

-- April 19, 2005 1:25 PM ∞

Carl wrote:

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.

-- April 19, 2005 1:49 PM ∞

Sara Madgid wrote:

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?

-- April 19, 2005 1:49 PM ∞

Sara Madgid wrote:

Angel;

Excellent post.. Coca Cola!!
Who owns Coca Cola?? ;)
I think we should be really happy!
This is truly a vote of confidence.

Sara.

-- April 19, 2005 2:48 PM ∞

michael wrote:

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?

-- April 19, 2005 3:19 PM ∞

michael wrote:

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

-- April 19, 2005 3:34 PM ∞

Al Yahud wrote:

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.

-- April 19, 2005 3:52 PM ∞

angel wrote:

Sara and michael,
you wouldn't be making fun of me would ya?

-- April 19, 2005 3:55 PM ∞

angel wrote:

Al,
Did they advertise the Kuwait Dinar?

-- April 19, 2005 4:00 PM ∞

michael wrote:

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

-- April 19, 2005 4:00 PM ∞

angel wrote:

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.

-- April 19, 2005 4:03 PM ∞

michael wrote:

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

-- April 19, 2005 4:09 PM ∞

Angel wrote:

bye

-- April 19, 2005 4:11 PM ∞

Olis wrote:

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!

-- April 19, 2005 4:12 PM ∞

Sara Madgid wrote:

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.

-- April 19, 2005 4:16 PM ∞

angel wrote:

Olis,
Maybe you'd be better off investing in barbie dolls.

-- April 19, 2005 4:17 PM ∞

Future wrote:

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.

-- April 19, 2005 4:20 PM ∞

angel wrote:

Oh Goody! We have a fortune teller.Can you see my future.

-- April 19, 2005 4:24 PM ∞

Al Yahud wrote:

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?

-- April 19, 2005 4:30 PM ∞

angel wrote:

Future
Sorry friend but you are no Edgard Casey

-- April 19, 2005 4:31 PM ∞

Angel wrote:

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.

-- April 19, 2005 4:38 PM ∞

angel wrote:

Hey

-- April 19, 2005 4:48 PM ∞

Al Yahud wrote:

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.

-- April 19, 2005 5:00 PM ∞

Sara Madgid wrote:

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.

-- April 19, 2005 5:09 PM ∞

Al Yahud wrote:

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.

-- April 19, 2005 5:23 PM ∞

brian wrote:

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.

-- April 19, 2005 6:57 PM ∞

Al Yahud wrote:

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)!

-- April 19, 2005 7:11 PM ∞

Al Yahud wrote:

"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

-- April 19, 2005 7:25 PM ∞

Sara Madgid wrote:

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

-- April 19, 2005 8:58 PM ∞

sporter4551 wrote:

"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,

-- April 19, 2005 9:02 PM ∞

Sara Madgid wrote:

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.

-- April 19, 2005 9:09 PM ∞

Sports Betting wrote:

I have to agree

-- April 19, 2005 9:38 PM ∞

RON wrote:

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

-- April 19, 2005 10:12 PM ∞

Al Yahud wrote:

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.

-- April 19, 2005 11:13 PM ∞

Dean wrote:

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.

-- April 19, 2005 11:41 PM ∞

Dean wrote:

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.

-- April 19, 2005 11:45 PM ∞

Dean wrote:

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.

-- April 19, 2005 11:46 PM ∞

Dean wrote:

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.

-- April 19, 2005 11:47 PM ∞

Carl wrote:

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

-- April 20, 2005 12:18 AM ∞

guy incognito wrote:

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.

-- April 20, 2005 3:15 AM ∞

Steely wrote:

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

-- April 20, 2005 5:20 AM ∞

Robert wrote:

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.

-- April 20, 2005 6:27 AM ∞

Angel wrote:

Sara,
That was a little inside info.

-- April 20, 2005 7:30 AM ∞

Al Yahud wrote:

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?

-- April 20, 2005 9:38 AM ∞

RON wrote:

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

-- April 20, 2005 10:39 AM ∞

Sara Madgid wrote:

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.

-- April 20, 2005 11:04 AM ∞

Al Yahud wrote:

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

-- April 20, 2005 11:46 AM ∞

Sara Madgid wrote:

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.

-- April 20, 2005 12:27 PM ∞

tommy wrote:

WE CAN GET AL YAHUD TO BE OUR BEER BOY ON THE TRAIN, I LIKE BUD AL, TOMMY

-- April 20, 2005 1:02 PM ∞

Robert wrote:

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.

-- April 20, 2005 1:54 PM ∞

Sara Madgid wrote:

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

-- April 20, 2005 2:31 PM ∞

Sara Madgid wrote:

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

-- April 20, 2005 2:41 PM ∞

Kyle wrote:

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 ...

-- April 20, 2005 2:44 PM ∞

Sara Madgid wrote:

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

-- April 20, 2005 3:15 PM ∞

Robert wrote:

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?

-- April 20, 2005 3:21 PM ∞

angel wrote:

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.

-- April 20, 2005 3:21 PM ∞

michael wrote:

Excellent Research today Sara, good job:)

Michael

-- April 20, 2005 3:34 PM ∞

angel wrote:

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?

-- April 20, 2005 3:45 PM ∞

KD wrote:

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.

-- April 20, 2005 3:58 PM ∞

Michael wrote:

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

-- April 20, 2005 4:21 PM ∞

angel wrote:

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.

-- April 20, 2005 4:54 PM ∞

angel wrote:

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.

-- April 20, 2005 5:07 PM ∞

Robert wrote:

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.

-- April 20, 2005 5:11 PM ∞

Bill1 wrote:

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.)

-- April 20, 2005 5:35 PM ∞

michael wrote:

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

-- April 20, 2005 5:45 PM ∞

JB Smith wrote:

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

-- April 20, 2005 7:26 PM ∞

Sara Madgid wrote:

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

-- April 20, 2005 7:29 PM ∞

Carl wrote:

JB
You made me laugh
thanks

-- April 20, 2005 7:35 PM ∞

Robert wrote:

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!

-- April 20, 2005 7:35 PM ∞

Michael wrote:

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

-- April 20, 2005 9:42 PM ∞

sporter4551 wrote:

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."

-- April 20, 2005 10:01 PM ∞

Michael wrote:

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

-- April 20, 2005 10:28 PM ∞

Angel wrote:

sporter4551,
Great post.I agree.Nothing last forever.And everything has an ending.

-- April 20, 2005 10:41 PM ∞

Angel wrote:

If that is true then that is so sad realy.

-- April 20, 2005 10:46 PM ∞

Carl wrote:

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.

-- April 20, 2005 11:47 PM ∞

Carl wrote:

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

-- April 21, 2005 1:14 AM ∞

Mary Lou Clayton wrote:

I am new to this site-I have noticed the GCC being mentioned frequently. Could you please email me the link? Thank you

-- April 21, 2005 1:30 AM ∞

TheRealist wrote:

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/

-- April 21, 2005 5:34 AM ∞

Angel wrote:

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.

-- April 21, 2005 6:59 AM ∞

JerseyBoy wrote:

TheRealist ='s Al Yahud

Nice Try

-- April 21, 2005 7:04 AM ∞

Carl wrote:

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.

-- April 21, 2005 8:46 AM ∞

Bill1 wrote:

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

-- April 21, 2005 8:49 AM ∞

RON wrote:

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

-- April 21, 2005 10:14 AM ∞

Al Yahud wrote:

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

-- April 21, 2005 10:47 AM ∞

Lacey wrote:

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/

-- April 21, 2005 11:13 AM ∞

proteus wrote:

al yahud translates as "the jew" in case anyone was wondering. geez, what a buttock.

-- April 21, 2005 11:37 AM ∞

Sara Madgid wrote:

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.

-- April 21, 2005 11:47 AM ∞

Sara Madgid wrote:

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.

-- April 21, 2005 1:02 PM ∞

Dave A wrote:

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

-- April 21, 2005 1:39 PM ∞

Sara Madgid wrote:

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.

-- April 21, 2005 2:09 PM ∞

Dave A wrote:

Right again Sara. I stand corrected.

-- April 21, 2005 2:24 PM ∞

angel wrote:

I believ in Santa Clause!

-- April 21, 2005 2:27 PM ∞

michael wrote:

Great Sara.

-- April 21, 2005 2:52 PM ∞

Carl wrote:

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.

-- April 21, 2005 3:05 PM ∞

CHAD wrote:

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.

-- April 21, 2005 3:40 PM ∞

Dave A wrote:

Carl, Chad, with your last post, are one of you the writer? this is confusing

-- April 21, 2005 4:38 PM ∞

Sara Madgid wrote:

I think it is very low of you to post under Carl's name, whoever you are.

Sara.

-- April 21, 2005 5:06 PM ∞

Sara Madgid wrote:

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.

-- April 21, 2005 5:31 PM ∞

Sara Madgid wrote:

And now a false post under the name Angel.. well, we know you are not one of those...

Sara.

-- April 21, 2005 5:36 PM ∞

Sara Madgid wrote:

And my name, too.. well, we know better.

Sara.

-- April 21, 2005 5:37 PM ∞

Michael wrote:

What the crap is going on here?

Please everyone stop giving this ideot attention and he will go away..

michael

-- April 21, 2005 6:01 PM ∞

Sara Madgid wrote:

micheal:
im the ideat, but your the one who thinks saudi arabia is running out of oil?

-- April 21, 2005 6:05 PM ∞

James wrote:

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!!!!!

-- April 21, 2005 6:11 PM ∞

michael wrote:

oh ok, well at least I write something interesting.. I refuse to pay anymore attention to you!!!!! make fun of me all you like.

-- April 21, 2005 6:24 PM ∞

chromeman wrote:

http://www.iraqigovernment.org/index_en.htm#

-- April 21, 2005 6:32 PM ∞

Kevin Brancato wrote:

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.

-- April 21, 2005 7:19 PM ∞

brian wrote:

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

-- April 21, 2005 7:22 PM ∞

CHAD wrote:

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.

-- April 21, 2005 7:27 PM ∞

Sara Madgid wrote:

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=

-- April 21, 2005 7:37 PM ∞

CHAD wrote:

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.

-- April 21, 2005 7:42 PM ∞

Carl wrote:

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.

-- April 21, 2005 10:47 PM ∞

Mary Lou wrote:

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

-- April 21, 2005 10:49 PM ∞

Robert wrote:

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.

-- April 21, 2005 10:52 PM ∞

RON wrote:

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

-- April 21, 2005 10:56 PM ∞

James wrote:

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

-- April 21, 2005 11:21 PM ∞

Angel wrote:

Sara
Which post was false under my name.

-- April 21, 2005 11:52 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 12:03 AM ∞

Angel wrote:

Robert
That post was scary.Good but scary.

-- April 22, 2005 12:06 AM ∞

Angel wrote:

Thank you sara and thank you Kevin for removing it.

-- April 22, 2005 12:09 AM ∞

Angel wrote:

Sara,
What is your prediction about the dinar.I would realy like your opinion.

-- April 22, 2005 12:15 AM ∞

michael wrote:

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

-- April 22, 2005 12:22 AM ∞

Angel wrote:

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.

-- April 22, 2005 12:40 AM ∞

Angel wrote:

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

-- April 22, 2005 12:45 AM ∞

michael wrote:

Thanks Angel

I know what you mean, I am just tired of the fighting.
take care

Michael

-- April 22, 2005 12:54 AM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 12:54 AM ∞

manqi 12 wrote:

hi to all i need to tell every one in here the din will go up no mutter what.

-- April 22, 2005 2:17 AM ∞

Robert wrote:

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.

-- April 22, 2005 6:46 AM ∞

Bill1 wrote:

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

-- April 22, 2005 9:29 AM ∞

Sara Madgid wrote:

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

-- April 22, 2005 9:34 AM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 10:53 AM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 11:00 AM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 11:34 AM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 12:10 PM ∞

MARY LOU wrote:

REALLLY APPRECIATE THE ANSWERS I HAVE NOT RECEIVED-GUESS YOU ALL DON'T CARE TO HELP.
MARY LOU

-- April 22, 2005 2:47 PM ∞

Mary Lou wrote:

SORRY-FORGOT TO SAY THANK YOU

-- April 22, 2005 2:48 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 2:54 PM ∞

Bill1 wrote:

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

-- April 22, 2005 2:58 PM ∞

Sara Madgid wrote:

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/

-- April 22, 2005 2:58 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 3:12 PM ∞

Mary Lou wrote:

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.

-- April 22, 2005 3:36 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 4:04 PM ∞

Mary Lou wrote:

Thank you-I will read the post you suggested-could you please email me with the GCC URL? Thank you.

-- April 22, 2005 4:09 PM ∞

Sara Madgid wrote:

The GCC homepage is:

http://www.gcc-sg.org/index_e.html

-- April 22, 2005 4:25 PM ∞

jd wrote:

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.

-- April 22, 2005 5:08 PM ∞

sporter4551 wrote:

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 �lite 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.

-- April 22, 2005 5:18 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 5:22 PM ∞

sporter4551 wrote:

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.

-- April 22, 2005 5:43 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 5:44 PM ∞

sporter4551 wrote:

slogan should be:

GOT DINAR?

-- April 22, 2005 5:45 PM ∞

sporter4551 wrote:

Sara,

I just want to share information that I belive is relavant. Whats your take on my post from March of 2005?

-- April 22, 2005 5:49 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 5:59 PM ∞

sporter4551 wrote:

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!

-- April 22, 2005 6:26 PM ∞

Sara Madgid wrote:

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.

-- April 22, 2005 7:27 PM ∞

Bill1 wrote:

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

-- April 22, 2005 7:29 PM ∞

Robert wrote:

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!! :)

-- April 22, 2005 8:26 PM ∞

Michael wrote:

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

-- April 22, 2005 9:42 PM ∞

Nate wrote:

Does anyone know an easy way to change my 25000 dinars into smaller amounts with out having to go back to the middle east?

-- April 22, 2005 10:26 PM ∞

Ed wrote:

sell them on e-bay. It works for my friend.

-- April 22, 2005 10:37 PM ∞

Angel wrote:

Why is everyone wanting to get rid of their 25000 dinar notes for smaller dinar notes.Are they deleting them sort of speak?

-- April 22, 2005 10:54 PM ∞

Dean wrote:

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...

-- April 22, 2005 11:00 PM ∞

Dean wrote:

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.

-- April 22, 2005 11:08 PM ∞

Robert wrote:

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.

-- April 22, 2005 11:19 PM ∞

RON wrote:

HI ALL
I SURE HOPE THAT THERE IS NOT A WALL BEING BUILT HERE.KEEP AN OPEN MIND.RON

-- April 23, 2005 12:40 AM ∞

Bobby wrote:

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!!!!

-- April 23, 2005 8:56 AM ∞

CHAD wrote:

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.

-- April 23, 2005 1:05 PM ∞

RON wrote:

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

-- April 23, 2005 1:05 PM ∞

Kevin Brancato wrote:

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

-- April 23, 2005 1:40 PM ∞

REALTOR wrote:

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

-- April 23, 2005 3:13 PM ∞

50 Cal. wrote:

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!

-- April 23, 2005 5:34 PM ∞

Sara Madgid wrote:

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

-- April 23, 2005 5:43 PM ∞

sherii wrote:

A Sad News

http://www.iwpr.net/index.pl?archive/irq/irq_121_5_eng.txt

-- April 24, 2005 5:14 AM ∞

Sara Madgid wrote:

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

-- April 24, 2005 10:39 AM ∞

Sara Madgid wrote:

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

-- April 24, 2005 11:05 AM ∞

Sara Madgid wrote:

'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

-- April 24, 2005 11:17 AM ∞

Sara Madgid wrote:

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

-- April 24, 2005 12:42 PM ∞

Sara Madgid wrote:

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

-- April 24, 2005 1:22 PM ∞

Sara Madgid wrote:

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

-- April 24, 2005 2:43 PM ∞

Sara Madgid wrote:

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.

-- April 24, 2005 3:24 PM ∞

Carl wrote:

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.

-- April 24, 2005 6:11 PM ∞

Sara Madgid wrote:

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.

-- April 24, 2005 6:13 PM ∞

Bill1 wrote:

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

-- April 24, 2005 9:56 PM ∞

SNAFU wrote:

just pay the taxes, live guilt free
http://www.bladenews.com/vault/cgi-bin/bowie/view/2005B/04/14-06.HTM

-- April 25, 2005 6:38 AM ∞

Bill1 wrote:

Good link SNAFU!

Canada and Kuwait are looking better, and better, and better, and better...

Bill

-- April 25, 2005 8:18 AM ∞

Mary Lou wrote:

Sarah-just browsed through the comments this morning and spotted the URL. Thank you.

-- April 25, 2005 9:50 AM ∞

Kevin Brancato wrote:

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...

-- April 25, 2005 3:06 PM ∞

Bill1 wrote:

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

-- April 25, 2005 4:00 PM ∞

Sara Madgid wrote:

"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.

-- April 25, 2005 5:51 PM ∞

JakeH wrote:

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

-- April 25, 2005 6:40 PM ∞

Mary Lou wrote:

What on earth happened today-the dinar to a DROP-any ideas why? Thanks

-- April 25, 2005 6:45 PM ∞

Sara Madgid wrote:

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

-- April 25, 2005 6:57 PM ∞

JakeH wrote:

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%.

-- April 25, 2005 7:05 PM ∞

JakeH wrote:

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

-- April 25, 2005 7:18 PM ∞

JakeH wrote:

http://truckandbarter.com/mt/archives/000502.html#9947

Sara-read this post above and source data noted

Jake

-- April 25, 2005 7:21 PM ∞

Sara Madgid wrote:

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.

-- April 25, 2005 7:35 PM ∞

Sara Madgid wrote:

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.

-- April 25, 2005 7:48 PM ∞

Sara Madgid wrote:

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.

-- April 25, 2005 7:55 PM ∞

JB Smith wrote:

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.

-- April 25, 2005 8:08 PM ∞

JB Smith wrote:

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?

-- April 25, 2005 8:32 PM ∞

sporter4551 wrote:

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).

-- April 25, 2005 9:10 PM ∞

Kevin Brancato wrote:

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...

-- April 25, 2005 9:20 PM ∞

Carl wrote:

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 have invested in the dinar,you do have a chance of gaining financial rewards,if the dinar increases, if you hadn't and the dinar train left without ya, then you would be kicking yourself in the butt.

-- April 25, 2005 9:38 PM ∞

okie wrote:

Lots of good info. being sent out on the ID. I think after everybody reads all the facts regarding our investment it will still be up to our gut feeling how we feel about the ID. I'm living and working in Iraq and have an ever increasing positive feeling for the current status and future of this country. As somebody once said "you can feel it in the wind". What this means to me is to BUY MORE DINAR!!

-- April 26, 2005 1:55 AM ∞

Mike wrote:

The more I read about the situation in Iraq, the more hints I see about Iran being the real threat to democracy. Are they next?

-- April 26, 2005 8:29 AM ∞

Bill1 wrote:

I'm thinking...

With Kevin giving us some background info about himself, and his being an academic economist, etc, I believe his motivation to initiate this site was/is to probably gather information he can use in some sort of collegiate dissertation, or what have you, with reagrds to NID investment and the Iraqi Economy.

Just a theory...

Cheers,

Bill

-- April 26, 2005 8:39 AM ∞

Kevin Brancato wrote:

Bill,

Given the sometimes deceptive nature of academics, I'd say that you could be onto something. But my dissertation, which will be finished this Friday, is about error in US macroeconomic data, not Iraqi Dinar, the Iraqi Economy, or speculating, or anything close to those topics.

And in fact, I didn't set out to start an Iraqi Dinar forum; you all did that by yourselves! The NID on T&B started last year, when out of curiosity about the economic situation in Iraq, I was poking around the CPA website; I just happened to notice that they released the official exchange rate, and I put up a blog post about it.

Apparently Google and the other search engines very quickly picked up on my post, and people started commenting on the post after getting to it through searches for "Iraqi Dinar", and emailing it to their friends.

I responded to a few initial questions, but it was very quickly out of my hands, and you guys (and gals) were talking to one another...

-- April 26, 2005 9:31 AM ∞

Sara Madgid wrote:

1Tim 6:10 For the love of money is the root of all evil: for which some have strayed from the faith in their greediness...

Is the reason people are unwilling to admit that the Iraqi Dinar can be worth much (and thus that the country of Iraq could be worth much) because, if it IS worth a lot.. then the Insurgents are fighting to take over the country - to create a coup - not for religious, ideological reasons but for monetary gain? To get all that money, that OIL... To prosper.. for themselves... like Saddam did?

It takes away from the "high road" they are claiming and makes them only criminals and thieves.

Sara.

-- April 26, 2005 10:07 AM ∞

Sara Madgid wrote:

Al-Zarqawi eluded raid but left clues, source says
Photos, phone numbers among intelligence found on laptop

By Richard Engel
NBC News correspondent
Updated: 8:05 a.m. ET April 26, 2005

BAGHDAD, Iraq - American special forces were tracking Abu Musab al-Zarqawi, the head of Al-Qaida in Iraq, near the town of Ramadi two months ago, but the Jordanian-born terrorist leader escaped by jumping out of a moving vehicle, a senior U.S. military source tells NBC News.

Al-Zarqawi did, however, leave behind several key pieces of intelligence, the source said, the most important of which was his laptop computer.

Photos of suspected insurgents released by the military last month were taken from the "My Pictures" folder of that laptop, the source said. It was also full of telephone numbers.

Also left behind in the car was a bag with about $100,000 in euro currency. Another bag contained mini, plugin harddrives, the source said, and evidently al-Zarqawi was using these to distribute information to his network in Iraq.

Iraqi officials had earlier revealed that al-Zarqawi's driver had been taken into custody near Ramadi in a Feb. 20 operation and voiced optimism that coalition forces were close to capturing him.

At the Pentagon, other U.S. military officials said special forces have "come close" to capturing al-Zarqawi on several occasions over the past several months and have gathered intelligence, primarily from al-Zarqawi associates caught in the raids.

NBC's Jim Miklaszewski contributed to this report from the Pentagon.
http://www.msnbc.msn.com/id/7637153/

-- April 26, 2005 10:20 AM ∞

JakeH wrote:

Iraqis losing confidence in political process

http://news.yahoo.com/news?tmpl=story&u=/krwashbureau/20050425/ts_krwashbureau/_bc_usiraq_wa_1

Corruption takes its toll on Iraqi oil industry

http://www.menafn.com/qn_news_story_s.asp?storyid=89000

For the NID to rise against the USD and be traded interbank it must become a 'hard currency'

A Hard currency,is a currency in which investors have confidence, such as that of an economically and politically stable country.

-- April 26, 2005 10:31 AM ∞

Sara Madgid wrote:

JakeH;

You are NOW basing your arguments.. not on the economic situation, or the inherent value of the Dinar.. but on changing public perceptions.

Public opinion is fickle.. and can be assessed inaccurately or change. The TRUE situation can be quite different than the press reports.

Did YOU think the public turnout for the elections in January were going to be like they were?

As for corruption taking a toll.. excuse me.. are we comparing corruption here.. BEFORE Saddam and AFTER Saddam? No.. we are not. We are just mentioning that some corruption in Iraq still exists. That is hardly suprising.

Are you saying the corruption situation has DETERIORATED since Saddam? I would argue that when Saddam was in power, there was MORE corruption.. and that the Iraqis and everyone else involved knows that.

Tell me...
Which would you have greater confidence in.. the Dinar under Saddam.. or the Dinar under this present government?

Yours are pretty thin arguments..

Sara.

-- April 26, 2005 12:15 PM ∞

Sara Madgid wrote:

What's going on in Iraq?

Although a few weeks have passed since Ibrahim al-Jaafari was introduced as Iraq's new prime minister, the cabinet has not yet been formed, mostly due to the fact that a segment of the minority cannot accept that they will no longer wield a disproportionate share of power in the new Iraqi.

Full Article: http://www.noozz.com/Iraq/ViewArticles.aspx?ArticleId=80665
----------

Iraq starts licensing Islamic Banks

An official source at Iraq Ministry of Finance said that the country's Central Bank was delegated the authority to offer licenses to Islamic Banks and offices representing these banks.

Full Article: http://www.noozz.com/Iraq/ViewArticles.aspx?ArticleId=80692
------------

Iraq to Import American Wheat

Iraq Minister of Trade, Mohammed Gaboury, said that the ministry had taken precautionary measures to make sure that the imported Australian wheat was clear of steel residue.

Full Article: http://www.noozz.com/Iraq/ViewArticles.aspx?SubId=2&ArticleId=80695

-- April 26, 2005 1:13 PM ∞

Sara Madgid wrote:

I don't think the causes of the political delays are without reason. The Iraqi government is acting responsibly and with the best interests of the country at heart. They are working toward a free Iraq that is sustainable and acceptable to all Iraqis. I hope the Iraqi people are wise enough, by and large, to see this; and have the patience necessary to let their leaders build a strong foundation for the country to act in unity for the good of the people, their prosperity and their future.

Sara.
---
Sunnis drop push to include ex-Baathists
From wire reports
BAGHDAD � Sunni Muslim politicians made a bid to get more ministries by dropping their demand Monday to include former members of Saddam Hussein's party in Iraq's new Cabinet.

As leaders of Iraq's main Shiite, Sunni and Kurdish factions continued backroom wheeling and dealing, Prime Minister-designate Ibrahim al-Jaafari again put off his long-promised Cabinet announcement.

A coalition of 10 Sunni factions initially requested 16 Cabinet seats. It submitted a list of candidates Sunday that included former members of Saddam's Baath Party, said Jawad al-Maliki, a senior member of al-Jaafari's United Iraqi Alliance. But when that was rejected, the Sunnis dropped the demand, al-Maliki said.

Alliance members control 148 of the 275 seats in the Transitional National Assembly. They refuse to give top posts to members of the party that carried out Saddam's brutal suppression of Shiites and Kurds.

http://www.usatoday.com/printedition/news/20050426/a_iraq26.art.htm

-- April 26, 2005 1:44 PM ∞

Sara Madgid wrote:

Sunni Arab set to win top defence post in Iraq
By Andrew England and Awadh al-Taee in Baghdad
Published: April 25 2005 18:23 | Last updated: April 25 2005 18:23

Senior members of the Shia coalition with a majority in Iraq's parliament said on Monday they had agreed to have a Sunni Arab in the key post of defence minister.

The decision follows weeks of political negotiations in which various Kurdish, Shia and Sunni parties which competed in elections in January have fought for representation in the new and much delayed government.

Giving the defence post to a Sunni Arab is thought to satisfy a key demand by Sunni, who dominated the military and the ruling Ba'ath party under the regime of Saddam Hussein and who now make up the bulk of Iraq's insurgents. It may be a step towards a long-sought political solution to the two-year guerrilla war.

http://news.ft.com/cms/s/8811cf3e-b5ae-11d9-be59-00000e2511c8.html

-- April 26, 2005 1:54 PM ∞

Bill1 wrote:

Since we opened Pandora's Box, and asked bloggers here at the T&B to explain their positions on the NID, I thought I'd offer this...

The following is copied from the www.xe.com world currency exchange website.

"A Snapshot of Iraq Today.

The current situation in Iraq is pretty grim:
� Over a decade of international economic sanctions and a devastating war has left the infrastructure in tatters
� $125 billion of external debt
� Millions of dollars in post-war debt
� No stable government
� Insurgency steadily on the rise
� Oil facilities and pipelines are sabotaged regularly
� International observers predict out-and-out civil war

These aren't the kind of conditions typically conducive to the creation of booming economies. More to the point -- a 450,000% increase in the value of the IQD (as predicted by some of its promoters) seems ridiculous in the face of these challenges."

End quote.

Seems that a lot of folks viewed them (www.xe.com) as EXPERTS (why? ...because they deal with world currency?!?!...) and some months ago (approximately 4/5 months ago) asked them to publish their $.02 on the prospects for the New Iraqi Dinar ...which, they eventually did.

Well their opinion is now four or five months old. Hmmm... let's see... what's changed since then???

Please allow me to illustrate:

"� Over a decade of international economic sanctions and a devastating war has left the infrastructure in tatters"

Correct, but look at where Iraq sits today with it's reconstruction effort, as well as planned upgrades to it's infrastructure - and like the Eveready Bunny, it's just keeps going, and going, and going.

"� $125 billion of external debt"

Not anymore. The majority of Iraq's pre-war debt incurred under Saddam has/is being forgiven.

"� Millions of dollars in post-war debt"

What post-war debt are they speaking of??? Pre-War Debt, of course becomes "Post-War Debt" once hostilities cease. So, if the pre-war debt is being forgiven, then what exactly are they speaking of?...

"� No stable government"

The stable government is 90% there, and is still in the making. Nine months from now this statement becomes completely irrelevant.

"� Insurgency steadily on the rise"

Not so anymore. Every day that goes by the insurgency weakens, little, by little ...until it eventually becomes just good'ole everyday crime - which, all well-to-do countries experience day-in and day-out.

"� Oil facilities and pipelines are sabotaged regularly"

True at one point, but Iraq has now dedicated three Battalions to Oil Field Security, so the sabotage has been drastically cut back.

"� International observers predict out-and-out civil war"

I don't think so. The only thing that can instigate Civil War in Iraq is a complete and utter beakdown in the new Iraqi government, which seems to be coming along fairly nicely.

So, you can see where in just a few short months statements like these, openly published on an extremely popular currency conversion website, that surely sent potential NID investors running for the hills, have now become just about baseless.

Everyone, all together now!...

"She'll be com'in round the mountain when she comes. She'll be com'in round the mountain when she comes. She'll be com'in round the mountain - Dinar flow'in like a fountain. She'll be com'in round the mountain when she comes!

YEEE HA!!!

Cheers,

Bill

-- April 26, 2005 2:21 PM ∞

carl wrote:

Bill1 and Sara
Fantastic Post...
I am proud to be traveling with ya.
Jake H
You are right to be concern about the corruption and how the world perceives iraq.
I believe if you will look at the over all picture for the past 24 months, you will see the Iraqi people have come a long way, to achieve the goal.

Carl

-- April 26, 2005 2:57 PM ∞

hank wrote:

I really don't fear that the Iraq economy will continue getting better as time goes on , my biggest fear is will the goverenment maintain the current us/iraq exchange rate and keep things stable. Can someone comment on why the us or iraq government wouldn't like keeping the exchange rate stable like it is now?

-- April 26, 2005 4:07 PM ∞

Seabee wrote:

seabees business system

The TRUE VALUE OF THE NID -

For at least the next 5 years, Better than a tupperware party, a ponzi-scheme, Mary kay Cosmetics - whatever - it's better THAN ALL OF THESE, and as long as things are going bad over in Iraq - BUSINESS WILL BOOM.

Insurgents will continue to blow things up. There are enough radicals to last at LEAST 5 years, and the "coalition" can do NOTHING about it. They will not capture ubl or zarcowee.

Here's the method -

Buy from the suppler you wish.. stock up 2 mill . go to your friends sell them all the dream start with 50k go to their friends sell it to them with your friend or let your friends do it. cut your friends a 50% profit leave your ph# with everyone . offer everyone a cut in price if they refer someone. sell any amount 25k on up. you make more if you sell 25 k at a time. you will have people buying from you like crazy. you will lose some to the net but most people like buying 25k to 50k at a time. when you build up enough people you will be ordering 2 mill a week . i sell about 1/4 mill a night and i don't go out to do it now. with the profits you can buy more for your self and not speed any more of your money doing so.

-- April 26, 2005 4:07 PM ∞

proteus wrote:

hey guys,

on the back of the 25,000 dinar note, there are some little black "numbers" on the left and on the bottom right. what do these mean?

-- April 26, 2005 5:13 PM ∞

Sara Madgid wrote:

Help for the Future Direction of Iraq.. The Power Structure.

Federal Germany a model for Iraq--US diplomat
26 Apr 2005 14:17:43 GMT

Source: Reuters

BERLIN, April 26 (Reuters) - Germany's federal structure could be a model for Iraq when it starts drafting its own constitution, the senior Iraq adviser to U.S. Secretary of State Condoleezza Rice said on Tuesday.

"I think Germany could potentially play a constructive role in drafting, or in helping the Iraqis draft the constitution because of your federal structure," Richard Jones told reporters during a visit to Berlin to discuss Iraq with German government officials.

"In Germany you have the 'Laender'. That is I think a model that could be a very useful model for Iraq," added Jones, who was U.S. ambassador to Kuwait until July 2004 and now coordinates Iraq policy in the State Department.

Germany is composed of 16 'Laender', or states, which have a considerable degree of independence and influence over domestic policy made in Berlin. Jones expressed confidence that a political deadlock in Iraq over the formation of a new government would end soon, allowing work on a new constitution to be completed by August 15.

He said concrete discussions on how European countries could help Iraq would likely take place at a conference in the second half of June in Brussels.

Jones praised German efforts in helping train Iraqi security forces, saying a total of 150,000 Iraqis were now fully trained and equipped. The United States has a goal of training an additional 10,000 per month over the coming year.

But he cautioned that efforts to suppress the insurgency in the country, which has grown more violent in recent weeks as political momentum generated by Jan. 30 elections has waned, would take time.

"We don't have any illusions as to how quickly the insurgency can be defeated," he said. "In fact worldwide the average insurgency lasts eight or nine years and the current insurgency has only been going two."

Writing a permanent constitution to replace the interim charter drawn up last year will be one of the first tasks facing the new Iraqi government. The degree of autonomy for different ethnic groups is likely to be hotly debated.

http://www.alertnet.org/thenews/newsdesk/L26355771.htm

-- April 26, 2005 6:14 PM ∞

Gene wrote:

Protues wrote:
hey guys,

on the back of the 25,000 dinar note, there are some little black "numbers" on the left and on the bottom right. what do these mean?
---

Those are Iraqi 'Powerball lottery Numbers'!
Good Luck!

-- April 26, 2005 9:17 PM ∞

Gene wrote:

Hank said:
I really don't fear that the Iraq economy will continue getting better as time goes on , my biggest fear is will the goverenment maintain the current us/iraq exchange rate and keep things stable. Can someone comment on why the us or iraq government wouldn't like keeping the exchange rate stable like it is now?

Well Hank , the Iraqi government would like to keep the exchange rate stable at the present rate
for a number of reasons, one being the increase in the iraqi workers wages
this relates to wages and the economy within Iraq
and budgetary process.

Any increase in the dinar's value in Parity to the dollar would be equal to an increase in wages
of same amount.

Example:
An Iraqi making 10'000 dinar a day or $6.84 USD
$136 Monthly
If the Dinar was to 'jump' to say, 0.02
He would then be paid $200 day- or $1000 week,
or $4000 Month or $48'000 Annual!!

Just one reason why the dinar is not going to 'shoot' up in value 30X
let alone 460X @ the dreamy 0.33 rate!

Gene

-- April 26, 2005 9:38 PM ∞

Mike wrote:

Bill, I emailed www.xe.com about their stale info and my email came back with some reason like "your email was refused by this address". It's been a while since I sent it so I forgot exactly but I remember thinking the same thing at the time. Why don't these bozos update their site? This is what I asked them and I inserted links showing the massive reconstruction that is going on in Iraq but they didn't want to hear it. They must be sitting on a hefty chunk of Dinar.

-- April 26, 2005 9:56 PM ∞

Willis wrote:

good point gene, but at the same time all of their 'goods' will go up in value at the same time. a six pack of coke will increase in the same value.

-- April 26, 2005 10:07 PM ∞

Willis wrote:

good point gene, but at the same time all of irq's 'goods' will increase in value making everything a push

-- April 26, 2005 10:09 PM ∞

Gene wrote:

Willis:

Nice try, but that doesn't work in the real world

It's unlikely that the Kebab at Omar's Deli selling now for 1000 dinars
is going to increase 30X from .068 or 1000 dinars
to $20 USD

-- April 26, 2005 11:10 PM ∞

proteus wrote:

Seriously, on the back of the 25,000 dinar note, there are some little black "numbers" on the left and on the bottom right. what do these mean? I'm curious because on a couple of the bills the "numbers" are exactly the same. serial numbers? dates? anybody got a clue?

-- April 26, 2005 11:44 PM ∞

Dean wrote:

There's a cold front coming down from the north accross the midwest and increasing cloudiness tommorow with a 70% chance or rain.

.....Whoops....the experts were wrong.....

The dinar will continue on it's unstable path as long as there is a unstable government in Iraq and investers in the dinar will lose everything.

.....Whoops....the experts were wrong again...

Face it, nobody knows what the dinar is going to do 5 years from now. Not the experts, us, or anybody on this board. It is a crap shoot.

But it is a gamble worth taking.

Come on, Baby needs a new pair of shoes, Baby needs a new pair of shoes! Roll the Dice!

-- April 27, 2005 12:02 AM ∞

Mary Lou wrote:

Based on the value on the post 4/13/2005-if nothing changes, the Dinars should be worth $ .1834627. Am posting the article. As far as I am concerned-bought 1000000 for $799-would be worth $183,462.70. I'll take it. Article follows:

> Home > Middle East News

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

Gulf Arab central banks prepare for currency union
3/21/2005 9:42:00 AM GMT

Gulf Arab central bankers have set monetary and financial targets, preparing for unifying their six currencies by 2010, a senior official said on Sunday.

Central bankers from Saudi Arabia, Oman, Bahrain, Qatar, Kuwait and the UAE have agreed to keep government debt below 60 per cent of GDP, said Mohammad Mazrooei, Assistant Secretary-General for Economic Affairs at the Gulf Cooperation Council (GCC), adding that they also set limits for inflation, interest rates, foreign reserves and budget deficits. However, no final decision has been reached yet on the powers of a new regional central bank.

"This is significant progress," said Mazrooei. He also noted that the GCC finance ministers would discuss the agreement in May.

Governors of the six central bank also discussed the shape of the new authority, which will oversee the unified currency, however, they didn�t reach a binding decision.

"They discussed the authority, which could be like the European Central Bank," Mazrooei added. "They almost came to agreement but they want to know about its responsibilities, jobs, functions."

The GCC countries have similar economies and have already established a customs union. They also set plans to establish a common market by 2007 and to unify their dollar-pegged currencies three years later.

Saudi Arabia has cut back government debt as a proportion of gross domestic product from around 119 per cent five years ago to around 66 per cent -- close to the level agreed on during Saturday talks.

Also Saudi Arabia and its five neighbours agreed that inflation should be capped at the weighted average of the six countries, plus 2 per cent, Mazrooei said.

Interest rates should be no more than the average of the lowest three countries, plus 2 per cent. And foreign reserves should cover at least 4-6 months of imports, though the agreement on reserves was "not final".

Last year, the UAE, which offered to host a future Gulf central bank, said that the Gulf Arab states would probably float their new currency soon after its launch.

-- April 27, 2005 12:25 AM ∞

Sara Madgid wrote:

GREAT article, Mary Lou

It can be found here, just in case someone wants to verify your information is true and you didn't write it up yourself :)

Gulf Arab central banks prepare for currency union
3/21/2005 9:42:00 AM GMT

http://www.aljazeera.com/me.asp?service_ID=7209

-- April 27, 2005 12:35 AM ∞

ISX-Data.com wrote:

RE: Arabic numbering on the Dinar bills. The Arabic you see on the bottom of the bills is the serial number. These should all be unique.
Arabic Numbers (new window will open)

Note that the backwards 7 could be either Arabic 2 or 3, as these are very similar. Also, Arabic number are read left-to-right, as opposed to the normal right-to-left of other Arabic text.

-- April 27, 2005 1:03 AM ∞

ISX-Data.com wrote:

Forgot to add, if anyone here is interested in it, I am running an Iraq Stock Exchange (ISX) stock picking contest. Free to enter, 1st prize is 100,000 dinar. Contest starts this Friday at midnight.

Contest Rules

Not trying to spam, thought some here that have an interest in the ISX might want to give it a whirl.

Paul - http://www.isx-data.com/

-- April 27, 2005 1:08 AM ∞

Mary Lou wrote:

Thank you Sarah-only one question-the GCC is made up of 6 of the Arab nations and has been since 1981. Since I am new here, I am somewhat behind in the posts. Has anyone found a news item or evidence of any sort that states that the GCC is considering letting Iraq join the GCC? My question is: why Iraq-why not Jordan, Syria, etc? Have been searching for some information but unable to find any. Can you help.
Thank you

-- April 27, 2005 1:22 AM ∞

millionayr2b wrote:

Hello everyone I'm new to this forum I was referred here from Invester's Iraq Forum.I presently have over 2 mil in dinar glad to the see the dinar train seats are filling up with like minded individuals.Cho Cho GO DINAR EXPRESS

-- April 27, 2005 3:07 AM ∞

Sara Madgid wrote:

Mar Lou;

You said you have been searching for information about the GCC. If you are using Internet Explorer, click on Edit and go down to "FIND (on this page)". Then you type in the letters "GCC" and press "Find Next". This will take you to the first post on this page displaying this word.

When you have read it, press Find Next again to go to the next post, etc. That way you will read only the posts discussing the GCC. You will find a lot of the information you need that way. I could copy and paste but the information is voluminous (large).

The short answer is that there does not appear to be any reason Iraq should not be in the GCC. :)

My post on this page, April 13, 2005 11:47 AM is helpful in this regard, as it summarizes some of the information on this topic discussed by the board (reference above it to understand the summary).

Hope that helps.. if not, ask Carl, as he is the best one to ask concerning this aspect of Dinars. :)

Sara.

-- April 27, 2005 10:36 AM ∞

Sara Madgid wrote:

Sometimes news reporting can be slanted toward a certain viewpoint, to the frustration of those with a differing one, such as this example concerning the lack of objectivity of the BBC recently.

Prescott challenges BBC over Iraq
April 25, 2005

Deputy Prime Minister John Prescott has written to the BBC's director general Mark Thompson accusing the corporation of gagging an Iraqi spokeswoman who supports the Government's decision to go to war.

Mr Prescott wrote: "Shanaz Ibrahim is someone I know personally. Her knowledge and experience of Iraq under Saddam, her articulate exposition about life in Iraq now, would surely be of at least some interest to at least some of the viewers and listeners of the many BBC outlets focusing on Iraq today.

"The refusal of the BBC to let her speak to the British people confirms to me that you are determined to tell only one side of the story, the side that fits the agenda that says the Government took the wrong decision in removing Saddam.

"How you think you can cover the politics of this issue without speaking to Iraqis who will say that life without Saddam is a lot better than life with him in power is, frankly, beyond me.

"I am writing to ask that you let the voice of real Iraqis be heard. They know rather more about the situation than the reporters who are supposed to be giving balanced reports from 4 Millbank."

http://icsolihull.icnetwork.co.uk/news/national/tm_objectid=15443169%26method=full%26siteid=91411%26headline=prescott%2dchallenges%2dbbc%2dover%2diraq-name_page.html

-- April 27, 2005 1:45 PM ∞

Bill1 wrote:

Where Gene recently put his spin on the expected short-term dinar value/exchange rate. I think his is too simplistic a statement � although, it is a piece of the puzzle. Also, Sara said something that made a lot of sense in reference to this not too long ago, and is more in line with thinking globally, and not just locally in Iraq.

Gene's example was:

"Example:
An Iraqi making 10'000 dinar a day or $6.84 USD
$136 Monthly
If the Dinar was to 'jump' to say, 0.02
He would then be paid $200 day- or $1000 week,
or $4000 Month or $48'000 Annual!!"

While Gene�s example looks pretty sound on the surface, its too matter-of-fact, and the situation in Iraq too dynamic to merely leave it at that.

Under Gene�s example it�s easy to see how impossible a 1 IQD: 1 USD at a .02 cents U.S. conversion would seem. This reasoning is practical, and great for �In Country�, and if Iraqis are expected to live in isolationism, apart from the rest of the world � but, what about Iraq �globally speaking�? At some point in time Iraqis are going to want/have to purchase imports of all types and aren't going to be able to afford them.

Currently, the only industry in Iraq is Oil that I know of? �(No, no you can�t count terrorism/insurgency. I know it�s tempting, but�)� So, just about everything else; i.e. some types of foods, clothing, electronics, appliances, automobiles, etc, will have to be imported from other countries whose currencies are far more valuable than the IQD; i.e. a HUGE Trade Deficit.

Under the present exchange ratio Iraqis are no better off today than they were x-number of years ago (fiscally speaking). The only benefactors to the dinar being devalued as it has been are the foreign businesses coming into Iraq to profit from the aftermath of the war.

Not to mention the funding of their new Iraqi Government. The sale of Iraqi Oil alone will not take the place of Tax Revenue, which is exactly what�s needed to fund their present and future governmental budgets. The present median Iraqi wage is just too low to be able to generate any sizeable tax revenue.

Also, do we expect Iraqis to simply stay in Iraq and not travel abroad? If Iraqis try and travel abroad � under the current valuation of the dinar � they will not be able to afford anything whatsoever on their trip, let alone the cost of the trip itself.

To me this is just not reasonable � at least in the mid to long-term.

No. I certainly don't believe that the value of the dinar will increase by that much at first. And, I can understand the Iraqi Government wanting to protect their economy, and the IQD against inflation as best they can; but at the same time, I think that a reasonable increase in the dinar's value can and should be expected � if only to the benefit of the Iraqi people, if no one else.

Not saying that its right, but my way of thinking is this:

Currently, Iraq is improving from top to bottom every day. And, �IF� (I don�t have a crystal ball) Iraq stays it�s current course, I foresee Iraq coming in line with the likes of say, a �Junior Mexico�, within the next two years � around late 2006, early 2007, or so. And, �No�, not at the present Mexican exchange rate to the USD of 11.10 pesos per, or each peso worth $.09 U.S., but anywhere from � of 1 cent, to a full U. S. penny (ball park-ish). That, I think, is a reasonable estimate and works to the advantage of all; especially the GCC, as it looks to bring Iraq into it�s fold around 2010.

Mine is just one of many plausible scenarios.

Something to consider�

Cheers,

Bill

-- April 27, 2005 2:24 PM ∞

Sara Madgids wrote:

Since other currencies do affect how the GCC currency will fare, and others on this board have speculated that the GCC currency may become the strongest currency in the world, the implications from the collapse of the European Union (or as the E.U.'s executive Commissioner Romano Prodi puts it below "the fall of Europe"), and the affect that would have on the currency market, could indeed affect the Dinar, and thus may be of interest to the board.

Just something to consider..

Concerns Mount That France May Vote Against EU Charter
By Patrick Goodenough
CNSNews.com International Editor
April 27, 2005

(CNSNews.com) - Alarmed by opinion polls showing growing opposition among French voters to the European Union constitution, European leaders are warning that failure of a referendum on the issue next month could seriously undermine the E.U. "project."

All 25 member states must ratify the constitution - either by referendum or parliamentary vote - for it to come into force, and so far, only six have done so.

In a French poll published Friday, 62 percent of respondents said they would reject the constitution in the May 29 referendum. The "no" figure is up from around 50-51 per cent just a month ago.

The trend is a particular setback for President Jacques Chirac, who, along with German Chancellor Gerhard Schroeder is a leading proponent of a strong and unified E.U.

Germany and France are the largest countries in the union and generally are considered the driving force behind the vision of the E.U. as a superpower. The two also spearheaded opposition in Europe to the U.S.-led war against Iraq in 2003.

Two days before the Chirac-Schroeder meeting, an even starker warning came from the former president of the E.U.'s executive Commission, Romano Prodi, under whose tenure the constitution was drafted.

A "no" vote in France, Prodi told a French newspaper, would not only be a "catastrophe" for France, but mean "the fall of Europe."

Pro-Europe politicians have warned that a "no" vote by a key player like France could have a spin-off effect on other countries' referendums. A vote is planned in the Netherlands for June 1, and polls there are indicating 52-58 percent in favor of a "no" vote.

In the Netherlands, a debate has emerged about whether the country should even bother to hold its referendum in June if France votes "no."

And in Britain, where Prime Minister Tony Blair has promised to hold a referendum in the first half of 2006 should Labor win next week's election, there has been speculation that the referendum plan would be dropped altogether if France votes "no."

Apart from France and the Netherlands, other countries planning referendums include Poland, Luxembourg, Portugal, the Czech Republic, Britain and Denmark.

http://www.cnsnews.com//ViewForeignBureaus.asp?Page=\ForeignBureaus\archive\200504\FOR20050427b.html

-- April 27, 2005 2:30 PM ∞

Evan wrote:

If you wanted to take a trip to Iraq and need to exchange US dollars for Iraq Dinar,how do you do this.I can not find any one that will do this.I would like to have the dinar before I arrive in Iraq.Can anyone help?

-- April 27, 2005 2:42 PM ∞

JB Smith wrote:

Yeah, me too. I'd also like to know how to get my dinar at the exchange rate before actually /going/ to Iraq or Kuwait or paying eBay markup.

Anyone help me out with that? Thanks.
lol

...

-- April 27, 2005 5:27 PM ∞

chromeman wrote:

It will be very much more in your favor to just walk into the bank when you get there and exchange it there.
ME

-- April 27, 2005 6:32 PM ∞

Evan wrote:

What is ebay?

-- April 27, 2005 10:49 PM ∞

dae wrote:

can anybody tell me a safe site to buy NID?

-- April 28, 2005 4:06 AM ∞

dae wrote:

can anybody tell me a safe site to buy NID?

-- April 28, 2005 4:07 AM ∞

guy incognito wrote:

bill1- you've mentioned going to canada and opening an account there and in kuwait. what banks are you considering and won't they just convert the amounts to their respective monies? just curious as i have been looking in to how i will eventually assure that i get the best rate possible when the time finally comes. any info on this process is appreciated as i have been wading through all sorts of sights looking for what to do and how to act when the dinar train starts steaming down the tracks.

-- April 28, 2005 6:06 AM ∞

angel wrote:

Evan,
Ebay is the worlds largest online action site.

http://www.ebay.com

-- April 28, 2005 7:42 AM ∞

angel wrote:

OOps.spelled that wrong
Ebay is an online auction website

-- April 28, 2005 7:46 AM ∞

angel wrote:

BAGHDAD (Reuters) - Iraq formed its first democratically elected government in more than 50 years on Thursday, ending three months of political deadlock that has crippled efforts to end violence.

The 275-seat parliament voted overwhelmingly in favor of the cabinet proposed by Prime Minister Ibrahim al-Jaafari, ending a power vacuum that has existed since Jan. 30 elections.

Small cheers broke out in the assembly after the speaker of parliament declared the vote had passed by 180 votes to five.

In a stroke of irony, the government's formation came on the 68th birthday of former dictator Saddam Hussein, who is awaiting trial in a U.S.-run jail on Baghdad's outskirts.

"The journey was full of blood, words, sweat and tears until this day, when our people gave you their trust to carry out this responsibility," Jaafari told parliament ahead of the vote.

Delays in forming the cabinet, caused by disagreement over the allocation of ministries, had undermined many Iraqis' faith in their leaders. The drawn-out talks also erased much of the optimism created by the elections and spurred the insurgency.

The cabinet will consist of 31 ministers, four deputy prime ministers and Jaafari, an effort to accommodate almost all Iraq's ethnic and sectarian groups amid growing tension.

Most of the posts went to Shi'ite Muslims, the majority in the country and the new political power after decades of Sunni- led rule under Saddam. Kurds and Sunni Arabs were also strongly represented. Seven ministries went to women.

http://www.newsalerts.com/news/article/go:world0:119769

-- April 28, 2005 8:10 AM ∞

Realtor wrote:

Now we need to work on the debt, anyone know anything about that.

-- April 28, 2005 9:19 AM ∞

Sara Madgid wrote:

Realtor;

These links show most of the Iraqi debt has been forgiven or will be:

http://www.jubileeiraq.org/blog/
http://truckandbarter.com/mt/archives/000266.html#7792
http://truckandbarter.com/mt/archives/000502.html#10296

-- April 28, 2005 10:42 AM ∞

Sara Madgid wrote:

I liked the title of this one, LANDMARK..
True, it is.

Iraq forms landmark government
Apr 28, 2005

Iraq formed its first democratically elected government in more than 50 years on Thursday, ending three months of political deadlock that has crippled efforts to end violence.

The 275-seat parliament voted overwhelmingly in favour of the cabinet proposed by Prime Minister Ibrahim al-Jaafari, ending a power vacuum that has existed since January 30 elections.

In a stroke of irony, the government's formation came on the 68th birthday of former dictator Saddam Hussein.

The cabinet will consist of 31 ministers and four deputy prime ministers, an effort to accommodate almost all Iraq's ethnic and sectarian groups amid growing tension.

Most of the posts went to Shi'ite Muslims, the majority in the country and the new political power after decades of Sunni-led rule under Saddam. Kurds and Sunni Arabs were also strongly represented. Seven ministries went to women.

No members of Iyad Allawi's party were included after talks with the former prime minister broke down this week after he was said to have demanded too many cabinet posts.

Allawi's party came third in the elections, winning 40 seats in parliament, and will now form the rump of an opposition.

http://tvnz.co.nz/view/news_world_story_skin/525440%3fformat=html

-- April 28, 2005 1:28 PM ∞

Sara Madgid wrote:

Certain statistics, like Iraq owning the third largest oil reserve in the world, sitting on 115 billion barrels of oil, and Iraq being a member of the Organization of Petroleum Exporting Countries, might be of interest to some who read the board who might not know this. Info below in these recent articles:

Iraq's Chalabi, Former Pentagon Ally, Named Acting Oil Minister
Caroline Alexander
Last Updated: April 28, 2005 11:33 EDT

April 28 (Bloomberg) -- Ahmed Chalabi, a onetime Pentagon ally in Iraq, was named a deputy premier and the acting energy minister, as the Iraqi government seeks a permanent candidate to oversee the world's third-largest oil reserves.

Chalabi, 60, who will be one of four deputy prime ministers, replaces Thamir Ghadhban, a veteran of Iraq's oil industry who helped boost oil production to about 1.9 million barrels a day. The total is still about 25 percent lower than levels in early 2003, before the U.S.-led invasion to topple Saddam Hussein.

In the running for a permanent ministerial position is Ibrahim Bahr al-Ulum, a former exile and son of an influential Shiite Muslim cleric, who was oil minister before Ghadhban. Another Shiite Muslim candidate is Abd al-Saheb Salman Qutb, a former deputy oil minister.

Iraq's oil production and reserves are split between the predominately Shiite south of the country and the Kurdish- dominated north. Kurdish leaders have long sought greater access to the oil wealth generated by fields around the northern city of Kirkuk and want a Kurd to be Iraq's oil minister.

A permanent oil minister will be appointed ``in the next few days,'' Prime Minister Ibrahim al-Jaafari said today. Al-Jaafari has until May 7 to complete his government, according to the Transitional Authority Law.

Chalabi, a secular Shiite who leads the Iraqi National Congress Party, worked closely with Pentagon officials in making a case for the March 2003 U.S.-led invasion and was seen by the administration as a possible choice to lead Iraq in 2004. He lost favor with the White House when he was accused of passing secrets to Iran, a charge he has always denied.

Iraq is a member of the Organization of Petroleum Exporting Countries, though it is not bound by any production quota limit.

http://www.bloomberg.com/apps/news?pid=10000103&sid=axosM1.rx0fo&refer=us

Iraq's Ahmad Chalabi: He's now Mr. Oil
Updated: 10:02 a.m. ET April 28, 2005
With the oil market anxious to see Iraq move toward stability and offer steady crude supplies, Chalabi said, �There will not be abrupt changes. My focus will be stability.�

His comments came as the State Oil Marketing Organization prepared to negotiate crude oil sales volumes of some 1.5 million barrels per day for the second half of 2005.

Prime Minister Ibrahim al-Jaafari, whose government list was approved by parliament on Thursday, has vowed to make permanent appointments swiftly to several ministries for which he tapped acting ministers, such as oil and defense.

But Western and Iraqi oil executives said Chalabi, once tipped to be a leader in Iraq before he fell out with his U.S. backers, might take precious little time to try and make his mark on the oil sector, home to 115 billion barrels of reserves.

http://www.msnbc.msn.com/id/7666574/

-- April 28, 2005 3:32 PM ∞

arh777 wrote:

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

80% Forgiveness Announced
The issue of Iraq�s massive foreign debt is at the heart of its economic transition. Estimated
at US$120.2bn by the Paris Club at end-2004, the debt is clearly unsustainable, and any
serious attempt to repay it would bankrupt the state. Positively, this has long been
acknowledged by Iraq�s creditors, and in November 2004, the Paris Club of creditor states
announced debt reduction that will, eventually, be worth up to 80% of the total owed to it.
However, notwithstanding the fact that two-thirds of the debt is not covered by the offer,
there is scant support within Iraq for repaying anything above 5% of debt accrued under
Inflation looks set to rise in 2005, although
it should fall back thereafter.
In November, the Paris Club announced
that it would forgive 80% of Iraq�s debt.
BMI View: Though the offer is not as
good as the Iraqis would have liked, the
costs of an outright default on Saddamera
debt are now much higher, making,
on balance, acceptance more likely.
IRAQ Q2 2005
18 Business Monitor International Ltd
Saddam Hussein. Consequently, while we believe that the deal should reduce the debt to
sustainable levels, the issue will remain politically important within Iraq over the forecast
period. And, while the prospect of an outright default by a sovereign Iraqi government now
looks unlikely, it should not be assumed that the issue has been finally resolved.
Although accurate figures are impossible to come by, there is a consensus that Iraq owes
US$120-130bn. Of the total, US$38.9bn is owed to Paris Club states, with an estimated
US$70bn of liabilities to other states, and US$15bn to private creditors. Furthermore, a
further US$31bn is owed to Kuwait for reparations as a result of the 1990 invasion � with
the UN Compensation Commission (UNCC) yet to decide on a further US$71bn of claims
� with payments on this pegged at 5% of oil export revenue, as decided by the UN Security
Council. Importantly, calculating the total amount is complicated as much of the debt owed
to Gulf states � Saudi Arabia is reportedly claiming US$25bn � reportedly has very little
supporting paperwork, and Iraqis (with US support), claim that it was intended as a gift,
rather than loan.
The Value Of The Deal
Disregarding confusion � and disagreement � about the final total, it is clear that it is wholly
unsustainable. If no debt relief were forthcoming, it would equate to over 300% of GDP and
500% of exports by the end of our forecast period according to our core � optimistic �
scenario for growth, even assuming no new interest charges of additional debt. Given this,
debt forgiveness has been at the forefront of US and Iraqi diplomacy and, after a faltering
start, made rapid headway in Q404.
After months of behind-the-scenes negotiations, the Paris Club announced a three-stage plan
to forgive up to 80% of Iraq�s total debt stock to the organisation in November. The plan
started with a 30% write-off on January 1 2005; with a second tranche of 30% due when an
IMF programme is approved (probably late-2005). Finally, 20% of the initial stock will be
written off when (or if) the IMF deems the first three years of the programme to have been
completed successfully. Furthermore, there is to be a six-year grace period on repayments,
with repayment of the remaining debt stock over a 23-year period only beginning in 2011.
An important feature of Paris Club debt restructuring is that it sets a floor for debt
repayments. Indeed, while creditors � both within and outside the Paris Club � can offer
more generous terms, the debtor state is not allowed to agree to repay any debt at a less
advantageous rate. Consequently, while creditor states � such as Kuwait and Romania � may
bristle at having their negotiating position undermined by the Paris Club deal, they will
Source BMI

-- April 28, 2005 4:48 PM ∞

arh777 wrote:

ECONOMIC OUTLOOK
The corollary is that while the current account will record a deficit throughout the forecast
period, it will be less serious than previously assumed. Furthermore, given strong support
from the US, hopes of new FDI in all sectors, and the prospect that it will sign a programme
with the IMF at the end of 2005 when its existing Emergency Post-Conflict Assistance
agreement ends, it is likely that capital account flows should more than offset current account
weakness. This should allow the central bank to increase its reserves over the forecast
period, and provide further support to the currency, which is currently the monetary anchor.
Source: BMI

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

-- April 28, 2005 4:50 PM ∞

arh777 wrote:

The authorities are committed to developing an open trade and exchange system. The
Interim Iraqi government has prioritised the establishing free trade agreements and other
trade linkages with Iraq�s neighbours. Under the programme, the government will avoid
imposing restrictions on payments and transfers for international transactions, to introduce
new or intensify trade restrictions for balance of payments purposes, or resort to multiple
currency practices. The Trade Bank of Iraq (TBI) was established in December 2003 to help
facilitate international trade. Iraq also recently secured observer status at the WTO. By June
2005 the government is expected to overhaul the customs administrations.

Source: BMI

-- April 28, 2005 4:51 PM ∞

arh777 wrote:

ECONOMIC OUTLOOK
Much more difficult, however, will be controlling inflation, which is hampered by the underdeveloped
banking system, as well as inadequate statistics. Essentially, at present the CBI
has very few tools to control the money supply, apart from physically injecting or
withdrawing cash from the banking system. Taking this into account, the CBI currently
targets exchange rate stability in order to, at the very least, eliminate imported inflation.
Given strong export revenues from high oil prices � which have already resulted in a rise in
foreign currency reserves � and large capital flows to offset the current account deficit, this
policy should be relatively successful and we anticipate that the dinar will remain stable over
the forecast period.
However, despite a supportive external position, it would be premature to consider the
currency regime analogous to the hard-peg regimes of other Gulf oil producers. Indeed,
other states, such as Saudi Arabia, have deep forex reserves resulting from strong balance
of payments positions over many years, not to mention large investments overseas that could
be liquidated if required. Consequently, the currency regime will remain vulnerable to a
terms-of-trade deterioration (essentially a sharp fall in oil prices).
The Slow Evolution Of Policy
While the currency policy should limit inflation, it will do little to contain price rises
emanating from domestic causes. Consequently, given the remonetisation of the economy,
it is likely that inflation will expand in 2005 � indeed, the IMF anticipates inflation of 15%.
This should be a temporary phenomena, and we anticipate that it will moderate thereafter,
although plans to replace food rations (60% of the population is reliant on food aid) with
financial assistance � which should help reinvigorate the agricultural sector �pose some risk.
Given the limits of an exchange rate target, the CBI is working to increase its technical ability
to control the money supply over the forecast period. The government has already started
issuing debt, in an attempt to set benchmark rates for the banking sector � an essential precursor
for open market operations � and it has increased regulation of the state and private
banking sector, including the establishment of new reserve requirements. At present, the
CBI would be wholly unable to implement an inflation-targeting regime. However, should
the banking system develop � which would require a substantial injection of new capital by
foreign institutions � the CBI could, possibly, switch from an exchange-rate target to one
oriented around money supply growth over the medium term.

Source: BMI

-- April 28, 2005 4:52 PM ∞

Bill1 wrote:

Guy Incognito,

Sorry to say that I'm currently too busy to really get started, as far as, looking into the Canadian Banking thing.

There's still a lot of avenues to be traveled when it comes to securing our dinar in a banking system that'll offer us the best bang for the dinar ...uhh, I mean "buck".

As soon as I get some good, hard info on this subject I'll most certainly post it here on the site, for all those wishing to do the same.

I do want to get the ball rolling with this sometime before the December Elections in Iraq ...that's a must!

Why?... Because, I just have this feeling that once the elections have taken place, that - coupled with the fast pace of the reconstruction/rebirth of Iraq - the IQD could quite possibly be ripe to finally hit the Forex Markets. And, that's one train I certainly don't want to miss!

Thanks for asking,

Cheers,

Bill

-- April 28, 2005 4:54 PM ∞

Mary Lou wrote:

Dae-I know of a couple of sites-have bought from one just recently-they make a very small profit-very good sites (250,000 dinar for $195-there is a $29 handling charge). When I get home this evening - will try to post sites for you.

-- April 28, 2005 5:01 PM ∞

sporter4551 wrote:

I have nothing but praise on the way the Iraqis have handled putting together a Goverment. May God bless them as they continue on this journey in joining other World superpowers!.

-- April 28, 2005 5:04 PM ∞

Mary Lou wrote:

Dae-

Here are the sites I promised:

http://www.gidassociates.com/

http://www.usdinar.com/faq.php

-- April 28, 2005 8:18 PM ∞

RealityMan wrote:

NID buyers and sellers�

Listen up:

Insurgent Attacks in Baghdad Kill 20
AP - 53 minutes ago

BAGHDAD, Iraq - One day after Iraq's National Assembly approved the country's first democratically elected government, insurgents launched a series of attacks in Iraq on Friday, killing at least 20 Iraqis and wounding more than 60, officials said.

This will continue to happen for the next 20 years. Iraq will continue to deteriorate into worse it was before. There are two more generations of children bread for the sole purpose of conducting suicide missions like this. They have nothing else to look forward to. By carrying out suicide missions they are fulfilling an act of heroism, and perhaps martyrdom. For every step forward there will be
More attacks like the above. It will go on and on for at least a couple more decades. It is a cesspool of violence and poverty spawned by 50 years of oppression. It will be at least 20 years before any real changes can take hold.

If these Bremmer Dinars are ever worth more than they are now, it will NOT BE FOR MANY MANY YEARS.

Iraq is a sad sad story.

-- April 29, 2005 6:05 AM ∞

REALTOR wrote:

SO, I guess the finance Minister and the CBI are to meet on the 4th is to postpone there next meeting years from now . get a life

-- April 29, 2005 6:28 AM ∞

Realtor wrote:

Read my letters(IT WILL PEG)when and how much we don't know. That's REALITY man

-- April 29, 2005 6:35 AM ∞

Carl wrote:

JUST SOME MORE STEPS ON THE LADDER UPWARD

The GCC's Gulf International Bank reports 86% rise in net income in first 3 months of 2005.

China and GCC are now in negotiations related to establishing a free trade zone. They expect the Free Trade Zone with China to be fully implemented in 10 years. China has increased their trade with the GCC countries by 40% in the last 6 years. The GCC now as 487 investment projects ongoing in China. These negotiations are just another step toward removing trade barriers, and establishing the Union Currency.

As stated before in my earlier post the GCC have discussed unification of the common currency before 2010. Their committees have and are studying the criterior for achieving economic balance within the GCC by fall of 2005, in preparation for the monetary unity.
This falls in line with my most recent post regarding the GCC, in their moves to go to the Union Currency.

Kuwait's foreign minister stated the GCC states will discuss in the future Iraq's return to certain institutions in the council. He stated, Iraq was a player in the council before the invasion of Kuwait. Iraq has stated, they want to be a full member in the GCC, considering Iraq is a Gulf State, meets the requirements of the GCC to rejoin.

ITS AMAZING HOW THINGS HAVE CHANGED
The newly formed Iraqi Government now is in the process of meeting the Aug 15, 2005 deadline for their constitution.

The Sunni Groups who opposed the first election are now joining in the process for the next election.

It appears the Iraqi people, who are now seeing their own Iraqi Security Forces take more of a roll in protecting them, are rapidly developing a sense,they are becoming a nation in charge of their own destiny. The people are no longer waiting and sitting back to see what happens, like they did at first. They are meeting their challenges head on.

More and more shops are opening everyday in cities and areas that a few months back were battle grounds with the insurgents.

Insurgents are still at work, but considering the amount of attacks at this time compared to the full military actions taken several months back, they have reduced significantly.

All of the above are just more steps forward in increasing the dinar value.You as dinar owners have contributed to this success, and you will participate in their success as more steps are taken in the developing the strength of Iraq.
Some writers see the Iraqi glass as half empty.. some see as half full.
One writer's view and opinion doesn't negate the view of another..

-- April 29, 2005 8:36 AM ∞

Sara Madgid wrote:

Realityman;

Obviously this is your first post here, and you haven't been reading the board much. However, if you go to my post on April 26th, I think you would find infomative Richard Jones' comments:

Jones praised German efforts in helping train Iraqi security forces, saying a total of 150,000 Iraqis were now fully trained and equipped. The United States has a goal of training an additional 10,000 per month over the coming year.

But he cautioned that efforts to suppress the insurgency in the country, which has grown more violent in recent weeks as political momentum generated by Jan. 30 elections has waned, would take time.

"We don't have any illusions as to how quickly the insurgency can be defeated," he said. "In fact worldwide the average insurgency lasts eight or nine years and the current insurgency has only been going two."

----

Your idea that "things are only going to get worse", the pessimist view, is certainly held by some. We here don't hold to illusions, as you suggest, but the historic view is not as defeatist as you imagine. I am glad pessimist voices like yours have not been greatly heeded throughout history. I am sure there were dark days in the struggle against other insurgencies, as Mr. Jones' alluded to, above. BUT, unlike you, he (and we) take the longer view, and hold to the fact that, worldwide, such insurgencies do not last out a decade. It is a war we will win, in spite of bellyaching from nay-sayers, like you.

Sara.

-- April 29, 2005 8:59 AM ∞

Sara Madgid wrote:

Realityman;

Can you imagine if you asked of President George Washington that he defeat the enemy, liberate the country in the War for Independence, create the government, elect its leaders, secure its borders, write its constitution and get the US economy going.. in TWO YEARS?

You ask a lot of Iraq's Powers That Be.

As Carl pointed out.. they have come a long way in a very short time; and they are only now getting a sense of what it will be like for them to be an independent country.

Sara.

-- April 29, 2005 9:31 AM ∞

Brandon Keeton wrote:

This is my first time posting but I have been reading this board for about a week now and I have finally caught up to today's post (I wanted to make sure that I had read all posts available before sounding off on the issue).
I am a US Marine and I have been in for close to 13 years now. I have yet to deply to Iraq for some odd reason (wrong place, wrong time I guess) but will be there in the next few months and should be there during the permanent elections in December.
I believe that we are doing the right things for the right reasons and I have decided to put my money where my mouth is and buy dinars. I purchased 250k of them a few days ago and plan to buy more next month (I'm on a fixed income so have to plan monthly).
Will it work out? I don't know. But every Marine that I have talked to who is returning home seems positive about what these people can acheive. A friend of mine (an MP) who is into investing here in the states, said that for the long haul, Iraq is a sure bet.
I hope none of you take offense to this but what I am about to say isn't too PC. However, I feel that I can say it because I am from Kentucky (you'll see what I mean in a minute just hear me out).
A Marine returning home described the Iraqi people as the "rednecks" of the middle east. Here's why:
1) Family is absolutely everything to them. The same is true for guys like me (ie. rednecks, there, I've outed myself). Without my wife a three girls, I just don't know what kind of person I'd be.
2) They are some hard working son of a b1#@&3s!. You'll find that this is true and indeed how the redneck got his name in the first place. There is nothing more honest than putting in a full day of physical labor outside in the hot sun so your neck is red by the end of the day.
3) They've tasted freedom and seem to like the flavor. Unlike many Americans however, they do not take it for granted.
Strong family ties, hard work, and freedom, are things that I will bet on every time.
I hope that I haven't oversimplified things too much but rednecks tend to do that. Good luck to you all and GO DINAR!!!

-- April 29, 2005 11:54 AM ∞

Carl wrote:

Brandon
I couldn't have said it any better..
May your guardian angels be ever vigilant by your side while you are in Iraq.

-- April 29, 2005 1:00 PM ∞

GetReal wrote:

A much more realistic view of IRAQ -
After we decimated Vietnam it was about 30 years until progress and stability really took hold.

Iraq is a hell hole in which the supreme bad guys like osama and zarkowi can't be csught. it's a sad sad story.
they will keep recruiting, because the the good guys can't offer anything better to these poor sob's. They offer martyrdom, notariety, cash to the families of martyrs, and the cance to die for a cause.

Give IRAQ the same 30 years and there might be some change.

Vietnam Enjoying Economic Recovery 30 Years After War
By Kay Johnson
Hanoi
29 April 2005
Johnson report - Download 388K�
Johnson report �

It has been 30 years since the end of the Vietnam War, and the country once known for strife and crushing poverty has emerged as one of the fastest-growing economies in the world.

Foreign investors flooded into Vietnam in the early 1990's, betting that the communist nation's "doi moi" economic reforms could make it the next Asian tiger economy. But by the late 1990's, the investors were pulling out almost as fast as they had come in. Doi moi, which means "renewal", was seen as too slow moving, and investors turned their attention to neighboring China.

Yet, in the past five years, Vietnam's cautious policy on reforms has quietly yielded results. Annual GDP growth has averaged nearly 7 percent a year. Poverty, which once plagued two-thirds of the population, has been cut in half. Average income for Vietnamese has doubled in the last 10 years.

Klaus Rohland, country representative for the World Bank, says those numbers are impressive by any standard.

"Vietnam is a major success story. As of 1992 until now, they have grown on average, by more than 6 percent," he said. "Last year they grew by like 7.5, 7.8 percent. And that is way above average growth. And it's probably, with the exception of China, the best performing economy in the world.

Unlike some other contributors, i'll just post the link to the rest of the article -

http://www.voanews.com/english/2005-04-29-voa21.cfm

-- April 29, 2005 1:04 PM ∞

Dewy wrote:

All those with rose colored glass on -

GO SELL YOUR NID's SOMEWHERE ELSE.

It's a LOSING BET.

Here's PROOF that nothing will change!!!

http://www.thespoof.com/news/spoof.cfm?headline=s3i8070

-- April 29, 2005 1:09 PM ∞

Brandon Keeton wrote:

Get Real,
I appreciate your comments but you're forgetting or purposfully ommiting a few things. First of all, Vietnam did not and has not recovered from our war there. They are growing but that's because they finally realized that communism and closed fixed markets, the way they had been running them in the past, didn't work. Free market economy does. In the 1990's the investors there (I'll use Pepsi as an example) failed to get things rolling because the communist regime insisted that in order to run a business there, a company had to have a Party "Advisor" as part of the company's management staff. A few years later, Pepsi had had enough because they were not in control of hiring and firing of workers there (something needed in a capitalist system). When I went there during Spring Break two years ago,(yeah, I'm a nerd and a redneck) things were reportedly better and were starting to take off. A person can now own their own business as long as they don't make over 3 million a year. The entrepreneur (did I spell that right?) is now booming in Vietnam. As a matter of fact I bought some of the best pajamas made of silk there, nice stuff and I've got the web address if anyone wants something comfortable to sleep in. They are now the 4th largest exporter of rice in the world where before they could barely feed themselves.
The Iraqis are not making that mistake. They're going to the free market right away.

-- April 29, 2005 1:43 PM ∞

Brandon Keeton wrote:

Dewy,
Despite being a conservative, I thought that article was hilarious.

-- April 29, 2005 1:54 PM ∞

Brandon Keeton wrote:

Carl,
Thanks for the warm wishes. I hope you make millions. I've been thinking about taking all of this stuff a step further and investing in the Iraqi stock market as soon as foreign investors are allowed to do so. Does anyone have any up to date information about doing this?

-- April 29, 2005 1:58 PM ∞

Sara Madgid wrote:

Getreal;

You said:
"bad guys like osama and zarkowi can't be csught"

Could you explain what crystal ball you are using for this statement? Apart from your misplaced faith in their Omnipotence, I mean.

Sara.

-- April 29, 2005 2:06 PM ∞

Brandon Keeton wrote:

Sara,
Good point.

-- April 29, 2005 2:10 PM ∞

Carl wrote:

Brandon:
It is my opinion we can know start investing in the Iraqi Stock market. G to Isx-data.com. This is a trading board for the stock exchange.
I am doing the same thing.

-- April 29, 2005 2:46 PM ∞

Sara Madgid wrote:

Brandon;

Thanks. Since you are a nerd and redneck :) I thought I should mention that, when you play chess, it is game over when you get the King. Just might be important to get the leaders from that kind of strategy perspective. Lots of Indians there, not too many chiefs.. get the chiefs, and all those people they send out to blow themselves up (the Indians) will definitely be in disarray.. and just think, I didn't even go to West Point. :)

Sara.

-- April 29, 2005 2:51 PM ∞

Gene wrote:

Brandon
The Iraq stock exchange is NOT open yet to
foreign investors

Go to investorsiraq.com for info on this
they have a whole forum dedicated to this (ISX)

the people there are much more seasoned & knowledgeable and in the 'loop' on the dinar

You'll find useful info on the IIF as opposed to
some of the misinformed,inane posts here

Best
Gene

-- April 29, 2005 3:08 PM ∞

Brandon Keeton wrote:

Carl and Gene,
Thanks for the posts, I'll check them both out.

-- April 29, 2005 3:59 PM ∞

Brandon Keeton wrote:

Sara,
Common sense does not require a West Point Degree. As a matter of fact, having just come through the "liberal" education of Miami University (OH), I am beginning to think that the higher your degree, the less common sense you have. If that is the case, I'll never get my masters!

-- April 29, 2005 4:03 PM ∞

Carl wrote:

Brandon:
Per my last post regarding trading with the Iraq Stock Exchange. That opinion was based on an article date 3-21-05
IRAG ALLOWS ARAB, FOREIGN INVESTMENT IN STOCK EXCHANGE.
Per the secretariat of government has informed Arab and "FOREIGN INVESTORS" they can "now" enter the Iraqi Securities market and invest up to 49 per cent in shares of listed Iraqi companies.
I posted this information also back in March, 05.
I do not know the details, as I have not had time to research it. But apparently foreign investors according to the article can now purchase securities. I intend to invest once I know the details.
Gene...you may want to explain the article to brandon and just what it means,to the rest of us slow folks on the board, and if we can or cannot invest on the stock exchange now. If not, what is the definition of foreign investor in regards to their statement?
I'll help ya out here, the site is www.albawaba.com posted on 3-21-05.

-- April 29, 2005 4:25 PM ∞

Brandon Keeton wrote:

Thanks Carl. I'm looking into opening an account as we speak.

-- April 29, 2005 4:48 PM ∞

Gene wrote:

http://www.isx-aman.com/
click: isx pulse

14. Foreign trade awaits Security Commission OK, March 12

ISX still closed for foreigners, March 09

Many potential non Iraqi investors have been thrown into confusion on whether they can trade in the ISX. The simple answers are:

The ISX is still not open to foreign investors directly.

Existing legislation does permit foreign investment.

The Council of Ministers, cabinet, approved foreign trade in a decree released Feb 15 2005.

The ISX is ready to implement the decision of the cabinet and open up.

For the ISX to do so its regulator, the Iraqi Securities Commission, must approve the move.

So far the Commission has not acted.

No one knows when the Commission will authorize the ISX to open up.

http://www.investorsiraq.com

-- April 29, 2005 5:25 PM ∞

RON wrote:

BRANDON GLAD TO HAVE YOU HERE.THAT IS SOME REALY GOOD STUFF ON YOUR POST.I WAS IN THE NAM IN 1967. THE IRAQI PEOPLE ARE A DIFFERENT GROUP,THEIR FAMILY VALUES ARE VERY VERY HIGH.THESE PEOPLE HAVE ALREADY STARTED TO PULL TOGETHER AND TRUN IN THE TROUBLE MAKERS TO THEIR OWN ARMY.AGAIN GREAT POST AND GOD BE WITH YOU ON YOUR TOURS IN THE FUTURE.RON

-- April 29, 2005 7:29 PM ∞

Martin wrote:

http://www.aboutdinar.com/viewtopic.php?t=72

whaaaat!!!!!!!!!!!???

-- April 29, 2005 8:42 PM ∞

CHAD wrote:

Martin this is just a bad rumor that someone started a long time ago and it just keeps poping up, ther is no way that the Iraqi government would do this, it would hurt their econimy the most.

-- April 29, 2005 10:51 PM ∞

Carl wrote:

Gene:
Your information quoted is dated 3-09-05 and 3-12-05, that is old information dated before the 3-21-05, post that gave the go ahead. It appears The Iraqi Investors board is behind times, and information you obtained is no longer valid.
Did ya do a "google search"? according to red and some other posters, I believe ya know who they are, that is all you have to do, to find any article that ya want, about anything ya want...

The article I referred too giving the go ahead for for foreign investors is dated 3-21-05, more current information, and supercedes the earlier post. I saw those also, and found them to be invalid, after viewing the 3-21-05 post.
Did you find anything after 3-21-05 that stated the stock exchange has changed their mind, and the go ahead has been recinded?
Confused???
Gee! I guess us old slow folks here on the truck and barter, who aren't as seasoned as the InvestorsIraq board folks, will just have to keep doing what we are doing to stay current. I just don't believe we want to use old information off of the InvestorsIraq board.
Gene ya might want to tell the people on the investors iraq forum, to check in on us sometime if they want to use current information.
We really appreciate ya trying to help us unseasoned folks out gene. You've really showed your stuff tonight.
Brandon
Let me know what you found out on opening an account..I'll follow ya.

-- April 29, 2005 11:13 PM ∞

sporter 4551 wrote:

Well my passport is ready!

If the new currency is comming online, and all the work done on the NID is in vain, I'll pack my bag's, bring the 10 gallon hat and land in Iraq, oil that is, texas tea.

-- April 29, 2005 11:23 PM ∞

Gene wrote:

Carl;
If you read the complete post-(which you haven't)

The current information is:

You can't invest in the Iraq stock exchange until
the ISC -Iraqi Securities Commission gives the go ahead
The http://www.isx-aman.com/ is up to date
as is the Investors Iraq Forum

clueless :)

Gene

-- April 29, 2005 11:41 PM ∞

Brandon Keeton wrote:

Carl, I've sent an email to both the Bank of Baghdad and Warka and have yet to receive anything from them. I'll wait a little longer before trying again. Ron, thanks for your kind words.

-- April 29, 2005 11:43 PM ∞

Gene wrote:

This is the link to the official source
the Iraqi stock exchange

http://www.isx-aman.com/

Kubba@isx-iq.net

If you email the head(Kubba)of the ISX at this address
he will tell you the Iraq stock exchange is not open yet to foreign investors,and is awaiting the ISC(Iraqi security commission's) approval.

-- April 29, 2005 11:52 PM ∞

Gene wrote:

Carl;
Perhaps your 'confused' if you do not believe
the ISX site
http://www.isx-aman.com/

Have you even gone to the site and read the latest
updates?
There have been no updates since 3-09-05 and 3-12-05
We are all waiting for the go ahead from the ISC
(as of today 4-29-05-no green light)
about 100-200 of us on Investors Iraq Forum who have
current accounts with Warka and AFS

unbelievable!

-- April 30, 2005 12:18 AM ∞

Sara Madgid wrote:

Interesting..

America�s Fifth Column
Michael Reagan
Published: April 28, 2005

America woke up the other day to media reports that the CIA has ruled out the possibility that that Saddam�s weapons of mass destruction had been secretly sent to Syria prior to the outbreak of hostilities. According to the media, the issue is now closed. The Washington Times, however, had a different take on the story, reporting that the CIA�s chief weapons inspector Charles Duelfer said he cannot rule out the possibility that Iraqi weapons of mass destruction were secretly shipped to Syria before the March 2003 invasion, citing �sufficiently credible� evidence that WMDs may have been moved there.

According to the Times, speculation on WMDs in Syria was fueled by the fact that satellite images picked up long lines of trucks waiting to cross the border into Syria before the coalition launched the invasion., and that retired Marine Lt. Gen. Michael DeLong, the deputy commander of U.S. Central Command during the war has written that intelligence reports pointed to WMD movement into Syria.

Moreover, in October, John A. Shaw, then the deputy undersecretary of defense for international technology security, told the Times that Russian special forces and intelligence troops worked with Saddam�s intelligence service to move weapons and material to Syria, Lebanon, and possibly Iran. �The organized effort was done in advance of the conflict,� he said.

Mike Reagan, the elder son of the late President Ronald Reagan, is heard on more than 200 talk radio stations nationally as part of the Radio America Network.

http://www.sacunion.com/pages/columns/articles/4415

-- April 30, 2005 12:21 AM ∞

Carl wrote:

Gee Gene:
I guess the post that I have in my hands is just a part of my imagination date 3-21-05. Again the site is www.Albawaba.com titled:
You can go to my first post about the article and read it or pull it up yourself.
The 3-21-05 post says: Arabs and foreign Investors can now purchase securities up to 49% of Iraqi companies.
This is the only reason, I stated, it was my opinion the Iraqi stock exchange was open for business with foreigners.
I have not seen any post, dated after 3-21-05 that stated this has been delayed. If so, I would agree with you.
I am following up with inquires to the Iraqi stock exchange to confirm there is a delay in the order given on 3-21-05.
If that is the situation, then you made your case...I have no personal stance either way regarding this issue.

-- April 30, 2005 12:35 AM ∞

Gene wrote:

Carl;
Thats what I am saying-
you are correct with the info that the government approved - the ISC though, has to give go ahead before we can actually participate in trades

Those that have current accounts with Warka and amman financial services(AFS) will be first in line when the trading for foreign investment is approved by ISC

All I am doing is passing on current info that I get straight from ISX and Warka in Iraq
I have an account,and am awaiting the go ahead
I am just trying to help on this subject, and am
baffled as to why I am being questioned or my info discounted.

sheesh!

-- April 30, 2005 12:49 AM ∞

Carl wrote:

Gene:
Not discounting your information. I believe you are looking at the information,you wrote about. I simply stated, I have a article date 3-21-05 after the post you quoted, that stated the go ahead had been given, and it you could provide anything different please do so to clarify a question about the stock exchange.
You are the one who attacked the writers of truck and barter as unseasoned and clueless.
The writers of this board don't deserve that type of snide remark.I have not seen any legitimate writer on this board post attack, against any writer on any other board, as was done by you.
If you want to post on the board state your information but be fair about it. Just because you have a different opinion does not negate anothers opinion. I believe you and I both are trying to do our best in research and put out what we find.
Again, if there is a delay in the 3-21-05 go ahead, then so be it. I just have not seen any information stating that.I read your post and you stated you were quoting post dated 3-9 and 3-12-05.
I see no need to get in a pissing contest over this subject.

-- April 30, 2005 1:05 AM ∞

Carl wrote:

THE GCC CURRENCY
According to some articles, the GCC currency is expected to be the most important currency in the world after the euro.
One reason for its popularity is the Islamic and Arab banks will use it for their reserve currency of choice for a combination of religious and politcal reasons. Being Iraq is controlled by the Shites,along with their other strong economic points, it stands to reason they will most certainly be put back into the GCC.
Initally the thought was the new currency would be pegged to the USD, and it was voted on that it would be. Now the trend thought is it may be pegged to the EURO instead for various reasons. The dollars violatile flunctions recently has not helped its reputation.
The GCC Countries are in meetings with the EU to follow their example as how the EU accomplished the final steps of putting the euro in effect. The GCC is expected to follow those steps.
Regarding the Euro, from the time the new currency float was activated to the time the old currency of the participating countries had to convert to the new appears to have been around 2 years.( I may be wrong on this time frame.)
One train of thought on the euro, is the middle east is and has been influenced more by the EU in trade than the United States. The European market(euro zone) is already the largest single source of imports into the middle east.
I don't believe the GCC has loss sight of the business opportunities the euro zone offers, nor of the underlying principles and the relevance of those countries to the GCC.
Tie it to the euro and the transactions from the euro zone are tranparent.
Wouldn't that be a kick in the pants if they did tie the new currency to the euro instead of the USD.
What I don't understand is how the currency valuation effects the valuation of each countries present currency. Does it move it up, down, level during the change over, etc;;
It is apparent they intend to follow the transition steps of the Euro.
Can anyone explain how the Euro affected those currencies valuation. I believe it will be the model of the new GCC union currency. This would give us some indication of what type of effect the new union currency would have on the Iraqi dinar.

-- April 30, 2005 9:09 AM ∞

REALTOR wrote:

Sage, I assume someone has told you that, someone that you told about the dinar and that was their stupid answer to you. So you put that on this board to see what other people say about it.

Read my letters IT WILL PEG and it will grow in time.

-- April 30, 2005 10:06 AM ∞

sporter 4551 wrote:

Carl,

Thanks for bring us the GCC common curency!

The NID will have to prove its worth in the Forex market. At the moment and perhaps for years to come, Iraq is the trump card and also snake eyes!. If the Iraqi Goverment cannot control the Country, the GCC union would be at mercy of attacks on the oil pipeline.

I do think things will get better in time, however the other Nations backs may turn on Iraiq until the situation is resolved. Hopefully civil war will not be the next steps for the savages.

-- April 30, 2005 10:36 AM ∞

Carl wrote:

Sportster
I agree when it comes to your fear of civil war.
Some of the Sunni Leaders pulled out of the government yesterday. That is a foreboding move, that is not good.
I do not believe Iraq will be accepted into the GCC until they get the security situation under better control, and get their economic infrastructure stronger.
As I have said in previous post it is going to be at least 2007 before anything happens positive with the dinar, and only then if they improve the situation. Some writers say from 5 to 20 years.
That is a wide range of time, but I don't believe it is out of the question.
We are just observers in this dinar adventure,with faith that they can pull this off.
I believe the GCC Currency will play a major part in the valuation of the dinar. But I don't fully understand the process. I understand the stages of the transition,but not necessarily how and what type of effect to expect.

-- April 30, 2005 10:48 AM ∞

Sara Madgid wrote:

Carl;

Concerning the Sunni leaders pulling out. I think Iraq's government has been very tolerant and tried to be negotiable with the terrorists, but there comes a time when you just will not be held ransom to their demands. Negotiation is ok, capitulation to force is not. I think it shows a considerable amount of backbone, a good sign, that the Iraqi government will NOT negotiate with unreasonable one way demands. I think law enforcement, when it is called in to a terrorist kidnapping incident, tries very hard to negotiate a deal with them.. first. But there comes a time when they say, "No, these guys are not reasonable." and then another course of action must be followed.

Sara.

-- April 30, 2005 11:46 AM ∞

Carl wrote:

Sara:
I do not know what the issues or situation was that caused them to pull out. So, I make no assumation either way.
But anytime, you have leaders who are part of an ethic group that was involved in violence before they came to the table,then stops negoiating and leaves the table. That is not what I call a banner day for either side.
So this little hump in the road will have to be resolved one way or another. It would best for all if they could do it without increasing more terror and violence.

-- April 30, 2005 12:44 PM ∞

RON wrote:

HI ALL
I WILL TRY TO PUT INTO WORDS WHAT I HAVE TO SAY.
"NOT THAT IT IS LAW."
I BELIEVE THERE COMES A TIME WHEN A GOVERMENT TRIES VERY HARD TO MAKE ALL PARTIES EQUAL ON EVERY TURN,BUT AT TIMES YOU HAVE CERTAIN ONES THAT WANT THINGS THEIR WAY AND ONLY THEIR WAY. THIS IS A GREED THAT IS NOT NEW TO MANKIND.THIS IS WHEN YOU HAVE TO GO TO THE MAJORITY AND ASK WHAT CAN WE DO.THE LARGEST GROUP IN FAVOR OF ALL PEOPLE WILL LAY OUT THE TERMS.I BELIEVE THIS IS THE SITUATION THAT IRAQ IS IN NOW.THEY MUST"AND I MEAN MUST"FIND A COMMON GROUND AND FIGHT TO MAKE IT PLYABLE FOR THE GOOD OF THE PEOPLE IN IRAQ.
I STRONGLY BELIEVE THIS WILL WIN THE CONFIDENCE AND LOALTYOF THE IRAQI PEOPLE,THEY PROVED THIS IN THE JANUARY ELECTIONS.THESE MURDERING THUGS MUST BE STOPED BY THE PEOPLE OF IRAQ,YHEY ARE THE ONLY ONES WHO CAN DO IT.
GOOD LUCK AND GOD BLESS THE IRAQI PEOPLE.
RON

-- April 30, 2005 4:08 PM ∞

Sara Madgid wrote:

Carl;

You are right, it wasn't a red letter day when the Sunnis walked out. However, I would have been upset with a compromise which gave in to unreasonable demands. Considering the pressure being placed upon the Iraqi government to make it work, I am sure they tried every negotiating trick in the book before they let them walk away. Appeasement just won't do. I want the Dinar to go, but properly.. not by caving in to unscrupulous persons who just wish to create a coup through negotiations. It might stablize the currency, and even make it worth more to give in to such demands (by ending the insurgency), but selling out would not serve the Iraqi people in the long run.... and I believe their lives, their families, and their freedom must come first before financial concerns.

Sara.

-- April 30, 2005 6:05 PM ∞

sporter 4551 wrote:

WHY!

This is a savage act!. Why would you kill you own Brothers and Sisters?. I love all creed, gender, race, the same. In the Lord's name I pray. We have to love one another, their is no second chance at life!.

-- April 30, 2005 6:36 PM ∞

Brandon Keeton wrote:

I don't know if it is just me or not and I know that I'm going to draw someone's ire by saying this but don't you think the Republicans should do the same thing as the Iraqi majority? ie. not giving in to unreasonable demands of a minority (as in the Democrats and the whole filibuster thing?) Just a thought.

-- April 30, 2005 7:34 PM ∞

Carl wrote:

Sara and brandon
No argument from me...

-- April 30, 2005 7:43 PM ∞

Sara Madgid wrote:

Sporter;

You wrote:

"This is a savage act!. Why would you kill you own Brothers and Sisters? We have to love one another.."

1Jo 3:14 He who does not love his brother abides in death.

1Jo 3:15 Whoever hates his brother is a murderer, and you know that no murderer has eternal life abiding in him.

Note that no murderer has eternal life in him.

Pray...

2Th 3:2 ... that we may be delivered from unreasonable and wicked men: for all men have not faith.

I presume by this that this kind of faith is not the kind that abides within the hearts of murderers, since they do NOT have eternal life abiding in them/their hearts.

Sara.

-- April 30, 2005 9:18 PM ∞

BOB wrote:

Carl:
I am delighted to see you back on T&B. Bring Michael with you. You may not always be totally accurate but you post valuable information which makes people like me more knowledgable. None of us has all the answers about the future of the Dinar and we are all speculating on what we think will happen and how the dinar will fare. So lets
keep a civil demeanor with each other and all work for a successful rise in the Dinar.

-- April 30, 2005 11:50 PM ∞

Sara Madgid wrote:

Angel;

Mar 4:23 If any man has ears to hear, let him hear.

In context, Jesus said this after he taught the people. He said this several times. He taught that not all men have ears to hear the Truth - so they distort - even the Bible, even Jesus' words (they did so in his own time, why was he crucified? If they distorted his words then, why not now?).

Counterfeit money does not mean that there is not a true currency, and just because there are false Bibles that does not mean there is not a true.

Joh 10:27 My sheep hear my voice, and I know them, and they follow me:

Joh 10:28 And I give to them eternal life; and they shall never perish, neither shall any man pluck them out of my hand.

If all these Bibles you speak of are truly DIFFERENT from one another, as you say they are, then though they speak different things, there will be a True Voice among them and those who seek can find the True.

Luk 11:9-10 And I say to you, Ask, and it shall be given you; seek, and you shall find; knock, and it shall be opened to you. For every one that asks receives; and he that seeks finds; and to him that knocks it shall be opened.

Pro 2:3-5 Yes, if you cry after knowledge, and lift up your voice for understanding; If you seek her as silver, and search for her as for hid treasures; Then you shall understand the fear of the LORD, and find the knowledge of God.

Sara.

-- May 1, 2005 1:09 AM ∞

Angel wrote:

Sara,
I never said that there was no truth in the bible.What I am simply getting at is that the bible has been rewriten over and over again and that I believe that while is was being rewriten over and over again some or many things have been added to it.For instance when some one tells a story to another and the one you told the story to tells another and adds to that story and the that person tells another and so on.
For instance It is scientifically impossible for it to rain 40 days and 40 nights and flud the entire earth.

-- May 1, 2005 5:04 AM ∞

RON wrote:

HI ALL WE ARE GOING TO BE GONE FOR A COUPLE DAYS,SO ALL OF YOU KEEP UP THE GOOD WORK.I`LL READ ALL POST WHEN I GET BACK.KEEP THE SPRIT HIGH,AND GOOD LUCK TO THE IRAQI`S.RON

-- May 1, 2005 8:47 AM ∞

Sara Madgid wrote:

Angel;

I understand your concern;

After you've heard two eyewitness accounts of an auto accident it makes you wonder about history.
~Unknown.

I will send you an email and we can correspond on the topic of religion, if you wish. For the Dinar board, it is probably best we not go off onto a tangent, since religion is not the topic of this board. However, the Bible claims that it will never be corrupted, but remain pure throughout all generations by an act of God. God will KEEP His words pure and PRESERVE them pure throughout all generations.

Psa 12:6 The words of the LORD are pure words: as silver tried in a furnace of earth, purified seven times.

Psa 12:7 You shall keep them, O LORD, you shall preserve them from this generation for ever.

The Bible also claims to be perfect Truth, and a curse upon all those who tamper with its words, therefore, there has never been anything added to the True.

Rev 22:18 For I testify to every man that hears the words of the prophecy of this book, If any man shall add to these things, God shall add to him the plagues that are written in this book:

Rev 22:19 And if any man shall take away from the words of the book of this prophecy, God shall take away his part out of the book of life, and out of the holy city, and from the things which are written in this book.

While it is true that it is presently impossible for it to rain for forty days and nights, are you aware that the earth was once completely tropical? If you go to the north or south poles and dig down deep enough, you will find fossils of tropical plants. The entire earth was once a tropical paradise, unlike today. Therefore, you cannot judge the likelihood of past events by present circumstances.

Sara.
PS Appreciated the Scripture and sentiment muchly, JuLes.

-- May 1, 2005 10:38 AM ∞

Sara Madgid wrote:

Peter;

I think it an awful thing that any man would have his name removed from the Book of Life for tampering with God's words in the Bible. In both the cases above, with Sage's jest of :

Joh 10:27 My sheep hear my voice, and I know them, and they follow me. (And they buy Iraqi Dinars)

That may seem to him just an idle mockery of those who buy Dinars and are of a people of faith... but perhaps God may see it as more.

Mat 12:36-37 But I say to you that for every idle word men may speak, they will give account of it in the day of judgment. For by your words you will be justified, and by your words you will be condemned.

Also, of course, there is JuLes' mockery and misquote of the Ezekiel passage (which is too long to quote here).

Sarcasm aside, I, too, wonder what will be the fate of both of these posters (if they are indeed different people and not the same person). But I think we must leave the judgement to God for the day of judgement as to who makes it or not.

Sara.

-- May 1, 2005 1:03 PM ∞

mimi wrote:

does anyone have an answer to my question? what does 60 percent increase to the iraqi GDP mean? PLEASE

-- May 1, 2005 2:35 PM ∞

Realtor wrote:

http://www.isx-aman.com/ Check out the ticker at the top off there web site.
YeeeeeHaaaaaa

-- May 1, 2005 3:53 PM ∞

Chromeman wrote:

Sara M, Carl, Brandon, BOB, Sporter 4551, Ron, REALTOR, and others I�m sure.

I just want to say I have enjoyed reading your post. I feel that I have come to know you people, just enough to know that your concerns are on the same level as mine. I don�t post a lot and for different reasons but if in the future if we are able to meet, it will be a great pleasure to me.

mimi, I recall reading something about �60%� and Iraq. Ill try to go back and dig it up. However, I�m sure someone of the above names (much faster than I) will post something sooner.

Sara I agree with your post about �government back bone�. I just hope it doesn�t get too ridged and break.

I finally followed threw with some previous postings about bank accounts. I now have two accounts in Al Warkaa bank, Baghdad. Now to get some money there is the next objective. I noticed new banking regs spreading globally. Some are indicating that in the near future, it may not be possible to get an account unless applying in person. Foreign or domestic. This is in the rumor realm because I don�t have the references, but if your interested you could find it out pretty easly.

-- May 1, 2005 6:34 PM ∞

Kevin Brancato wrote:

Sorry for the delay in comments appearing... I am working on a solution to permanently rid T&B of those who refuse to remain on topic... Will be finished soon. I'm afraid comment registration will have to begin shortly...

This will be a two-tiered process.

Those who register with Typekey and provide a valid email address to them will have their comments appear immediately and without interference.

Those who choose not to register will have their comment forwarded to me via email, and I will decide whether or not to post it, at my own leisure.

I have a little programming to complete, but this should be relatively painless, and after the first registration, almost invisible to most of you.

Please let me know what you think about this BEFORE I implement it -- my email address is kevin@truckandbarter.com

-- May 1, 2005 6:35 PM ∞

Michael wrote:

Realtor:

Big, Big News....

-- May 1, 2005 8:59 PM ∞

Angel wrote:

I finally recieved an email from Al Warkaa bank today(so happy).I emailed them 3 weeks ago,they must be very busy over there.She said it takes 1,000 IQD to open up an account in IQD and did not state how much for a USD account does anyone know how much or does it matter?

-- May 1, 2005 9:20 PM ∞

Angel wrote:

Hello Kevin,
I just wanted to say thank you for the creating this board.I have been to many forums and this is the only board that I have found to be most informative on the iraqi dinar.I also loved the ideal that i did not have to sign up and give out my personal information.And I realy dont like that now I have to get my messages okayed before they are posted.That is kind of taking away the freedom of speach don't you think.Please don't think I am attacking you because I am not.I just wanted to let you know what I thought as you had asked.Hope you have a wonderfull evening and thank you for your time.

-- May 1, 2005 9:40 PM ∞

Kevin Brancato wrote:

Angel,

Thanks for your opinion.

I will not require that you give ME your information, but that you have a verified email address with Typekey.

I don't want your personal info, but I need a way to prevent people from screaming fire in this theatre.

-- May 1, 2005 9:49 PM ∞

Sara Madgid wrote:

Kevin;

I think it is a SUPER idea and have registered with Typekey hoping you will implement this feature. I so appreciate all those who are legitimate posters on this site, and it will be good to have the interaction without distracting comments from those who are not serious about the topic but only trying to stir up trouble. By moving to using Typekey I think you are showing that legitimate posts, even when they hold to differing opinions, are welcome on the board.. but not abuse and attack. I appreciate your site and the Typekey option which will keep the board more user friendly. :)

Thanks!
Sara.

-- May 1, 2005 10:16 PM ∞

angel wrote:

Kevin,
Ok I understand now,its a great ideal Thank you.Forgive me I am just a little slow tonight.

-- May 1, 2005 10:33 PM ∞

carl on wilson lake wrote:

Kevin:
Thanks for your assistance in setting up the board on the typekey system.
I just registered it was extremely easy and quick.
To the letigimate writers who want to sign up for the typekey validation to continually post on the board simply go to:
www.typekey.com it is free and easy to do.

-- May 1, 2005 10:45 PM ∞

Kevin Brancato wrote:

I'm still working out the kinks, and I should have Typepad authentication up and running tomorrow evening.

Until then, I'm leaving comments open, so be on guard.

Again, if you're really, really against typekey registration, then you will still have a chance to post anonymously, but only after I screen what you have written. Screening will be done at most twice a day, since I'm not at my computer 24/7.

-- May 1, 2005 10:53 PM ∞

Kevin Brancato wrote:

This comment demonstrates that Typekey authentication works, although the "Preview" button is busted.

Using the Preview button will result in the loss of your comment.

-- May 1, 2005 11:47 PM ∞

Sara Madgid wrote:

Kevin;

Does your comment before the comments box mean the preview button will be enabled later? It is a nice feature for making sure your spaces are right. Thanks!

Sara.

-- May 2, 2005 12:37 AM ∞

Kevin Brancato wrote:

Fixed!

-- May 2, 2005 7:16 AM ∞

Sara Madgid wrote:

Coalition forces could begin withdrawal in 2006: Iraqi minister
(AFP)
2 May 2005

WASHINGTON - US-led military forces in Iraq could begin withdrawing in mid-2006, Iraqi national security adviser Mowaffak Al-Rubaie said in an interview on US television.

�I would be very surprised if they (the US-led multinational forces) don�t think very seriously of starting pulling out probably by the end of the first half of next year,� Al-Rubaie said in an interview with CNN�s �Late Edition� on Sunday.

�I believe that during the course of next year, the Multi-National Force will consider, some of them will consider going back home.�

Al-Rubaie however refused to say how many foreign soldiers he believed would withdraw, saying that �it depends on the way this terror or fighting against terrorism will go. It depends on the speed of the training and recruitment of our Iraqi security forces. It depends on the training, armament and providing the right equipment for our security.�

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May11.xml§ion=focusoniraq

-- May 2, 2005 11:03 AM ∞

Michael wrote:

Hi Sara and Carl, I'm so glad to see some control here now..

So, it was great news that Realator posted. ISX accepting foreign investment today.. :-)

-- May 2, 2005 11:25 AM ∞

Sara Madgid wrote:

Michael;

Yes, it looks GREAT to see progress in Iraq, particularily on such a good indicator as the stock market. :)

I was at a joke site yesterday and read this, which I thought was interesting statistically (not to minimize the suffering the troops or their families are going through at all, they have our prayers and concern):

If you consider that there have been an average of 160,000 troops in the Iraqi theater during the last 22 months, that gives a firearm death ratio of 60 per 100,000.

The firearm death ratio in DC is 80.6 per 100,000. That means that you are more likely to be shot and killed in our Nation's Capitol, which has some of the strictest gun control laws in the nation, than you are in Iraq.

Conclusion: We should immediately pull out of WASHINGTON, DC!
---

Sara

-- May 2, 2005 11:36 AM ∞

JB Smith wrote:

people check out your facts before posting them
or saying "wow great facts"
please.

Thanks
jb

-- May 2, 2005 11:58 AM ∞

Sara Madgid wrote:

JB;

Iraqi government approves trade of foreign investors in ISX.
Trade sessions switched to Monday and Wednesday as Saturday becomes part of weekend..
That is what it says on that ticker at:
http://www.isx-aman.com/

Today's date also is just above the ticker.
Is the information incorrect?

Sara.

-- May 2, 2005 12:36 PM ∞

Michael wrote:

http://portaliraq.com/shownews.php?id=1111193

CTL wins Trade Bank of Iraq processing contract
Sunday, May 1st 2005

-- May 2, 2005 3:57 PM ∞

sporter wrote:

Hello all!

-- May 2, 2005 4:59 PM ∞

Sporter wrote:

Warka Investment Bank signs Automated Banking Services Agreement with ICS (London) Ltd

In harmony with the rapid development of the Iraqi banking sector, Warka investment bank signed an agreement with International Computer Systems (London) Ltd., this agreement comes to initiate the automation and computerization project for Warka Investment Bank based on implementing ICS�s banking solutions within the different departments of the bank.

This agreement is part of Warka Bank initiatives to provide its clients with highly integrated banking services based on highly efficient banking solutions and according to international standards. The cooperation between ICS and Warka Investment bank came along with the bank�s elevated objectives and vision of boosting its services up to an international level based on implementing BANKS System which is developed by ICS.

Warka Investment Bank is considered the third Iraqi bank - after Bank of Baghdad and Emerald Bank - to adopt BANKS System to automate and handle its services, as BANKS remarkably effective in maximizing efficiency of banking services and upsizing banking investments in addition to minimizing cost and efforts.

BANKS System is supported with high technical capabilities through utilizing the latest of technologies and multi delivery channels with embedded work flow management features, allowing rapid delivery of services to clients on a 24x7 standard, via fixed and mobile phones and internet as well as ATM services. This System enjoys a great flexibility as it runs under Oracle 10g and Linux operating system and deals with different languages and currencies, and can be customized into multiple services and implemented on different platforms. The system is supported with Treasury and Investment modules that cover all the treasury and investment activities.

Warka Investment bank chose BANKS System to further expand its loyal customer base and enhance the standard of its services, which will consequently lead to boosting its status as a leading bank and upsizing its market share.

http://www.icslondon.com/news/warkabank.htm

-- May 2, 2005 6:30 PM ∞

Sporter wrote:

Warka Investment Bank signs Automated Banking Services Agreement with ICS (London) Ltd

In harmony with the rapid development of the Iraqi banking sector, Warka investment bank signed an agreement with International Computer Systems (London) Ltd., this agreement comes to initiate the automation and computerization project for Warka Investment Bank based on implementing ICS�s banking solutions within the different departments of the bank.

This agreement is part of Warka Bank initiatives to provide its clients with highly integrated banking services based on highly efficient banking solutions and according to international standards. The cooperation between ICS and Warka Investment bank came along with the bank�s elevated objectives and vision of boosting its services up to an international level based on implementing BANKS System which is developed by ICS.

Warka Investment Bank is considered the third Iraqi bank - after Bank of Baghdad and Emerald Bank - to adopt BANKS System to automate and handle its services, as BANKS remarkably effective in maximizing efficiency of banking services and upsizing banking investments in addition to minimizing cost and efforts.

BANKS System is supported with high technical capabilities through utilizing the latest of technologies and multi delivery channels with embedded work flow management features, allowing rapid delivery of services to clients on a 24x7 standard, via fixed and mobile phones and internet as well as ATM services. This System enjoys a great flexibility as it runs under Oracle 10g and Linux operating system and deals with different languages and currencies, and can be customized into multiple services and implemented on different platforms. The system is supported with Treasury and Investment modules that cover all the treasury and investment activities.

Warka Investment bank chose BANKS System to further expand its loyal customer base and enhance the standard of its services, which will consequently lead to boosting its status as a leading bank and upsizing its market share.

http://www.icslondon.com/news/warkabank.htm

-- May 2, 2005 8:17 PM ∞

Sporter wrote:

A Bet on Iraq
for a walk on the wilder side of the fixed-income market, look no further than distressed Iraqi debt. Back in 1990, the government of Saddam Hussein defaulted on $120 billion in loans in the runup to the first Gulf War. Some of that debt may be written off by the U.S. and its allies, but the rest will probably have to be repaid once Iraq is back on its feet -- probably at a big discount. The successful Iraqi elections in January, and International Monetary Fund projections for 9% growth in 2006, have led investors to pay up to 30% of face value for the Iraqi debt in a market with trading volumes approaching $500 million a year, roughly the size of the Ivory Coast's debt market. "Investors who have a long-term horizon find it attractive," says Richard Segal, director of research at Exotix Ltd., a London brokerage specializing in illiquid bonds.

Serbian debt is attracting investors as well after the Balkan country struck a debt-forgiveness agreement last July with creditors who agreed to restructure remaining loans into a new bond offering. Indeed, yields on defaulted Serbian debt obligations tracked by Exotix are down to 7%, half the level of two years ago. At the same time, some investors are taking a closer look at Serbian equities. Candymaker Bambi, based in Pozarevac, Serbia, has attracted European investment, as have builder Energoprojekt and drugmaker Hemofarm, all of which have share prices that have at least doubled in the past two years.

A way of adding extra sizzle without increasing credit risk is to invest in local currency issues. For example, although yields on Ukrainian T-bills have declined to 7% in recent months on high demand, the dollar's decline against the local currency, the hryvnia, means the equivalent dollar yield is above 12%. "It's an area that's more attractive now because you have the potential for [local] currency appreciation [against the dollar]," says Kristin Ceva, lead strategist for Los Angeles investment management firm Payden & Rygel's Emerging Market Bond Fund.

Investors who want high returns and are willing to wade into riskier securities to get them need not put all of their nest eggs in emerging markets. Catastrophic fixed-income investments, or cat bonds, are an alternative that offers the prospect of returns as high as 20%. Cat bonds are created by repackaging insurance policies against natural disasters like earthquakes into bonds. The market has been around only since the mid-1990s, but it's worth $1.1 billion a year today. The bonds' chief advantage: Natural disasters usually have little of the "contagion risk" shared among emerging markets. "To the best of our knowledge, there has never been a loss of principal from a cat bond," says Judith E. Klugman, a managing director at Swiss Re in New York.

Of course, that might change with the next big hurricane. But even if some investors take a licking, the lure of higher yields will draw others. For the daredevil investor, the search for one more high-payoff risk never ends

http://www.businessweek.com/magazine/content/05_16/b3929155.htm?chan=gb

-- May 2, 2005 8:20 PM ∞

juikster wrote:

so if for instance I had a warka account(and I don't)and things looking up and I buy and sell Iraqi stocks and theoredicly built up a nice nest egg,(this is still theoredics)when it was time for me to cash in explain what pocedure takes place in order to obtain the nest egg from the foreign investment. Please if you would, since I am new at this,putit in laymans terms
thanks

-- May 2, 2005 8:27 PM ∞

Sporter wrote:

Juikster,

I will wait until an American firms holds a seat on the exchange. I'm not trying to discourage investment in Iraq, however what is protecting Foreign investment interest in the ISX. I'm also very unsure on opening an Iraqi bank account. The account is not insured. (FDIC)

Just my 2cents

-- May 2, 2005 8:38 PM ∞

Sporter wrote:

I an looking for a Cayman Island firm to commit to the ISX.

-- May 2, 2005 8:40 PM ∞

Sporter wrote:

Sorry for the bad spelling! Long day I guess.

-- May 2, 2005 8:42 PM ∞

chromeman wrote:

It takes me a while to learn somethin new. But I guess I made it. Thanks for all the provisions Kevin. An impossibility for me. Lots of time and work for you. On your efforts, we at T&B will learn and become informed.

-- May 2, 2005 9:32 PM ∞

chromeman wrote:

juikster:

"when it was time for me to cash in explain what pocedure takes place in order to obtain the nest egg from the foreign investment."

Its just the reverse of getting into the market. You place a sell order. Either "Market" or "Limit" (call any brokerage house they will explain what the terms mean) The rest is automatico. You get Dinars into your securities account. From there you transfer them to a bank account where you can convert them to USD and wire transefer that value to your US bank account.
The first few time it will feel valumanas/huge, but its a simple operation and easy to follow.

-- May 2, 2005 9:55 PM ∞

Dean wrote:

I have a (dinar)saur theory that's biblical and never heard anyone mention.

What ever happened to the (dinar)saur?

Well, in the Garden of Eden, God delivered three curses:

1) To the man: By the sweat of thy brow....
2) To the woman: Pain in childbirth....
3) To the serpent: On thy belly shall thy crawl...

This 3rd curse seems to imply that at one time the serpent walked the earth on legs.

The (dinar)saur even resembles something one would call a serpent.

Resulting in my theory that after Adam and Eve ate from the tree of knowledge, God turned all the (dinar)saurs into snakes.

Look at the 3rd curse again...On thy belly thy shall crawl... If that's the curse, what did this creature look like before the curse?

Maybe when I cash in all my dinars for dollars, I'll invest some funds to research this further.

-- May 2, 2005 11:32 PM ∞

juikster wrote:

thanks for the replies.

-- May 3, 2005 1:02 AM ∞

jerseyboy wrote:

Hey Dean ?... It seems that these are just facts ... not predictions...

1) Men have ALWAYS sweat from the brow
2) Woman has ALWAYS had pain from childbirth
3) So why not Snake will ALWAYS crawl on it's belly ?

Save your research money... Buy more Dinar

-- May 3, 2005 9:39 AM ∞

tommy wrote:

SPORTER, HOW WILL YOU KNOW WHEN A CAYMEN ISLAND BANK ACCOUNT WILL BE AVAILABLE FOR OUR DINARS? DOES IT GET ANNOUNCED SOMEWHERE? THANKS TOMMY

-- May 3, 2005 11:14 AM ∞

chromeman wrote:

http://www.arabtimesonline.com/arabtimes/breakingnews/view.asp?msgID=8854

May 03,
How Iraq is doing financially - A very informative read. First report from new finance minister.

-- May 3, 2005 1:35 PM ∞

Brandon Keeton wrote:

Good article Chromeman. I was listening to Paul Harvey today (you know, "the rest of the story" guy) and there was a report that US military has captured documents that were a real intel bonanza. The documents include a letter from a terrorist cell leader to al-Zarqawi himself complaining of low moral, lack of discipline, and incompetence of new recruits. Chalk one up for the good guys and GO DINAR!!

-- May 3, 2005 2:02 PM ∞

Brandon Keeton wrote:

Just ran across something that might interest a few of you. Go to this web site:

http://wwp.greenwichmeantime.com/time-zone/asia/iraq/currency.htm

If go to currency converter, it says that the currency is currently trading for 1522.5 dinars to the dollar. Everywhere else says that it's trading for around 1470 to the dollar. Can enyone explain why this is?

-- May 3, 2005 2:06 PM ∞

Terrance wrote:

Earth to Dean...is anyone home?

Chromey, Carl, Ron:

I just wanted to check in and say a quick hello. I hope you guys are doing well. I'm only checking in periodically to read the buzz. As you guys know, the Dinar/USD exchange rate is going to do its own thing no matter how much I/we analyze it. That being said it is a bunch of fun to read the latest news and form some hunches. And it is a very valuable website to stay abreast with important ideas on the means of future exchangability of the NID. That info is practical stuff and useful data - especially when it comes time to cash in to get our plane tickets to Hawaii for our beach pit pig roast......can't wait.

Aloha to you all

-- May 3, 2005 4:21 PM ∞

sporter wrote:

ISX

For those who want to follow the Iraqi economy the following link is the best that I have found.

Regards,

Sporter

http://www.isx-data.com/

-- May 3, 2005 5:56 PM ∞

Brandon Keeton wrote:

Here is the story I heard on Paul Harvey, apparently it's all over the tv news too.

http://www.reuters.com/newsArticle.jhtml;jsessionid=RMXVQRLU52E1QCRBAE0CFFA?type=topNews&storyID=8375785

Add this to the fact that now most all of the elected positions are sworn in in Iraq, I'd say that even though things still aren't picture perfect by any means, things are looking up.

-- May 3, 2005 6:43 PM ∞

Sara Madgid wrote:

There is something so good about compassion and love which strikes home in the hearts of all but the Insurgents:

Marines save baby at Camp Fallujah
Posted: May 3, 2005
By Glenn Marzano

One thing that's been lost by the media during the War on Terror in Iraq is the reporting of the good news and deeds Marines and soldiers. The old saying that if it bleeds it leads has held true with regard to news coming out here.

"We don't respond to something like this very often," stated Lt. Sullivan.

On a day-to-day basis, we are surrounded by our fellow Marines � the world's toughest fighting force � who defend themselves and the world against terror. And then there was this baby. This baby Nada.

Without the coordination of Lt. Sullivan at Camp Fallujah, who coordinated the events, Cpl. Epps and 11 other military policeman and physician Cmdr. McQuade, Nada would more than likely not have survived.

In the big scheme of things, this might not seem important. Who knows what this little Iraqi girl will make of her life. It did not matter. The only thing that did was to make sure she had a chance to live. Due to the efforts of several Marines and a corpsman, this little girl will have the opportunity to have a life � a free life.

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=44096

-- May 3, 2005 8:18 PM ∞

RON wrote:

HI ALL
HEY TERRANCE LONG TIME NO HEAR.AS YOU HAVE BEEN ABLE TO READ,THERE HAS BEEN ALOT ON THE THREAD,SOME GOOD SOME BAD.WE THE NID TRAIN GANG JUST KEEP ROLLIN ROLLIN ROLLIN KEEP THEM DINARS A MOVIN.WE ARE STILL LISTENING FOR THE ALL ABOARD.
BOY WHAT A TRAIN AND JET RIDE THIS WILL BE.I CAN ALMOST SEE THE PIT SMOKE AND SMELL THAT PIG NOW.
GOOD LUCK TO ALL RON

-- May 3, 2005 9:49 PM ∞

Brandon Keeton wrote:

Sara,
I just read that article you posted. Having been in the Marines for close to 13 years now, I keep thinking that I'll stop being amazed at my fellow Jarheads. In all actuality, the amazing part is that I keep thinking this. Once again, my pride in being what I am is renewed. Thank you for that.
If anyone else has read that article and NOT at least considered that in the long run Iraq will be ok, I really don't think that you are living in the real world.
Maybe it's just me and I'm having a really good day, but couple this story with the one about the letter to Zarqawi and I think things are going to be fine in a few years.
Oh yeah, by the way, my Warka bank account will be opening next week. I got an email from the info email address that told me everything that I need to do. Wish me luck!

-- May 3, 2005 11:26 PM ∞

Sara Madgid wrote:

Brandon.. wishing you prosperity. :)

This is some good news:

Syria, Iraq restore diplomatic relations after two decades
AP , ISTANBUL, TURKEY
Monday, May 02, 2005,Page 7

Syria announced plans to restore diplomatic relations with Iraq more than two decades after ties were severed, boosting regional hopes for securing borders and signaling a willingness to change its policy toward the violence-torn country.

With Iraq's neighbors concerned that violence and ethnic instability in Iraq could spread throughout the region, they pledged Saturday to cooperate with Iraq's newly elected government on "overall border security."

The neighbors -- which include Syria and Iran, two countries accused by US officials of failing to prevent insurgents from crossing their borders -- also planned an upcoming meeting of their interior ministers to discuss how to better monitor their borders.

Syria's decision to re-establish ties after 23 years of severance could be key to easing the insurgency in Iraq and boosting regional security, given Syria's 499km shared border with Iraq and its strong ties with Iraq's Sunni tribes, analysts said.

Syrian Foreign Minister Farouk al-Sharaa told delegates in the closed meeting Saturday that legal measures to resume diplomatic ties with Iraq would be taken "at the earliest possible time," Syria's official news agency SANA reported.

Syria is interested in Iraq's stability, unity and security "so that it can play its full role in the Arab and international arenas," he was quoted as saying.

The announcement, signaling a change in Syrian policy toward Iraq, could be "instrumental" in quelling Iraq's insurgency, said Iraq expert Gamal Abdel Gawad.

"Syria may be more able than any other [neighbor] to play an important role in convincing the Sunni Arabs to show some flexibility regarding the political process," Abdel Gawad said by telephone from his base in Cairo. Saudi Arabia and Egypt have less influence on the tribes in Iraq.

At the same time, Syria is at juncture "when it needs to offer a positive gesture to reduce the pressure and to show that there is response to pressure and it needs no more," Abdel Gawad said by telephone from his base in Cairo.

The US has accused Syria of sponsoring terrorism and letting terrorists slip through its borders with Iraq. But Damascus faced mounting pressure from the US, the UN and key Arab nations following the Feb. 14 assassination of former Lebanese Prime Minister Rafik Hariri.

http://www.taipeitimes.com/News/world/archives/2005/05/02/2003252851

-- May 4, 2005 9:49 AM ∞

juikster wrote:

warka says that to open a account one of the requirements is for copy of passport or some official document.Can someone explain as to what official document(s) they will except.not real sure about sending passport info.....

-- May 4, 2005 10:11 AM ∞

Michael wrote:

Very interesting article:

Iraq to seek final debt settlement � new finance minister

AMMAN (Reuters) � Iraq's new government will seek to settle all the country's prewar debt this year to boost the potential for economic recovery and accelerate rebuilding, Finance Minister Ali Allawi told Reuters on Tuesday.
In his first interview since Iraq's post election Cabinet was formed last week, Allawi set out the government's financial priorities, saying Iraq also had to curb mismanagement and reform state subsidies costing billions of dollars, which could help secure International Monetary Fund (IMF) funding.

http://www.jordantimes.com/wed/economy/economy4.htm

-- May 4, 2005 10:22 AM ∞

Brandon Keeton wrote:

Juikster,
I don't have a passport so I'm sending my military ID. If they don't accept that then I'll just go ahead and get a passport. It's only about 40 bucks, no big deal.
Also, this is wonderful news, the #3 man in Al-Quaida (sp?) was captured today. Or at least it's just getting reported today. Whoohooo!
They're saying that symbolically it's not as big of a catch as Bin Laden or Zarquawi but operationally (what really counts in my book) it's huge. Two days in a row of great news. I feel like a millionaire already!
Speaking of being a millionaire, if this gravy train really comes in, I'm thinking about giving a good portion back to the military by supporting those charities that are run by us or in place for us.
I worked with Toys for Tots when I was stationed in Michigan so I know that's a good one to give to and it helps the most innocent among us, the children, during Christmastime.
A few others that I was thinking about are the Navy/Marine Corps Relief Society and the Fisher House. Whatever you decide to do with your money, if you get it, is up to you but I would encourage all of you to remember the military who made this investment possible in the first place.

-- May 4, 2005 1:33 PM ∞

juikster wrote:

Thanks Brandon,I myself recently came back from Iraq after a year and 8 monthes supporting the troops as a civilian hvac mechanic.And I personally can say that it gets pretty hot over there. anyways thanks.........

-- May 4, 2005 2:14 PM ∞

Bill1 wrote:

BK,

You, and your Band of Brothers, keep up the awesome job you're doing Devil Dog. ...OoooRah!

I can't begin to tell you how proud we are of each and every one of you. We simply stand in total awe of your accomplishments...

If it weren't for the brave men and women like yourself, that fought and are still fighting this war, the NID wouldn't even exist - period!

For you and the rest of II MEF, and all Marine Supporting Units / Dets in Iraq, I submit the following:

(A new twist on an old favorite)

"From the Halls of Montezuma, to the Deserts of Iraq.

Threaten this great country, and our Marines will attack.

Violence begets violence - Marines know this all too well.

'Semper Fi' is their motto, and they'll send you straighht to Hell."

God Speed to you, and all of America's service members in Iraq.

Chin up,

Bill

-- May 4, 2005 8:21 PM ∞

Sara Madgid wrote:

Interesting comments by Iraq's security adviser recently:

Iraq sees US troop pullout next year
By Christopher Swann in Washington
Published: May 2 2005 03:00

US and other foreign troops could start withdrawing from Iraq by the middle of next year, according to Iraq's national security adviser.

Speaking on CNN last night, Mowaffak al-Rubaie, said: "I will be very surprised if they [coalition forces] don't think very seriously of starting pulling out probably by the end of the first half of next year."

Mr Rubaie was optimistic that the US troops and Iraqi security forces were making headway.

"I think we are winning - on the winning course, there is no doubt about it. The level of violence is not measured only by the number of explosions every day or the number of casualties," he said. "There is no shadow of doubt in my mind that by the end of the year we would have achieved a lot and probably the back of the insurgency has already been broken."

http://news.ft.com/cms/s/4bf6fe82-baa6-11d9-a27b-00000e2511c8.html

-- May 4, 2005 11:35 PM ∞

Brandon Keeton wrote:

Bill,
You don't need the Dinar! You'll make it big in songwriting! Just kidding, thanks for the support. Although I must admit, after twelve years of being an enlisted 0300 (Infantry), since crossing over to the Officer side of the house, I am now an 0100 (Adjudant) all I do is the paperwork for the real fighters now. The month I got to college four years ago was when september 11th happened. I have been out of the fleet since then and will not check in to Combat Engineer Battalion (CEB) until August. I'm stuck in Quantico until then. Thank you for the praise and encouragement. I am truely humbled by it. But the praise really belongs to the young Lance Corporal who's filling a Sergeants job in the Infantry or the old Gunny who was supposed to be on his last tour two tours ago but choses to lead Marines until Iraq is secure. Those are the men and women who deserve the praise. Aside from prior experience in peace time, I haven't done diddly in the post 9-11 military. Thanks anyway though.

I was going to save this for another post but I'll do it here. One of the biggest gripes I have with the military is that they don't show young service members how to invest, particularly the enlisted men and women. We were given the wonderful opportunity called the Thrift Savings Plan (TSP) and there are servicemembers who choose not to use it.
The TSP is the model for the social security program the president's trying to push through and let me tell you, IT'S FREAKIN' GREAT!!!
There are five funds you can split your money into ranging from very conservative to ultra risky. Whether I'm in for four years or stay in and try to be the Commandant of the Corps, the money is MINE!
With the dropping of the American dollar, I thought I'd look into the fund that dealt with foreign currency and that's how I ended up looking for information on the Dinar and conversing with you nice folks.
But the Dinar is a prime example of a training tool that is not being utilized. We can at least say to the troops, ok, here's how it works, you buy Dinar here at this price and basically hope that if it goes up over a few years. If it does, great, if it doesn't, you haven't lost too much. I know that I'm rambling now but it's late and I feel like complaining. But I guess since I'm an Officer now, I have more of an influence over the training of Marines and can set up a class for them if I wanted when I hit the fleet again. Wow! See that, I listen to the voices in my head and the problems solve themselves!
Well, that's all for now, sorry for rambling at the end there.

-- May 5, 2005 12:16 AM ∞

Bill1 wrote:

BK,

Your comments are "center mass" regarding who the real credit belongs to for our success in Iraq: Our enlisted Marines, and especially those baby-faced small unit leaders.

America changes every 15 minutes, with it's reality television programing, etc, etc. But, at least making Marines, and Marines winning wars - that will never change.

"Never have so many, owed so much, to so few."

It never ceases to amaze me how small our Corps really is...

Quantico - "The Crossroads of the Marine Corps"

You sound as though you're at TBS... I hear the CO's call sign is, "Darth Vadar".

The coffee at General Java's (Q-Town) is pretty good, and I like it better than Starbucks. I try and get there just after the morning rush - about 0745, or so.

Good luck to you once you get to 2d CEB down at Lejeune this coming August. I'm scheduled to rotate down to 2d FSSG myself, the middle of next summer.

R/S, S/F

Bill

-- May 5, 2005 9:39 AM ∞

Thanos wrote:

Will this Iraqi Dinar thing ever happen or is this all a bad distraction of our funds?
Tell me waht you think

-- May 5, 2005 10:19 AM ∞

Brandon Keeton wrote:

Bill,
Holy s#!t, the Corps is small. Another thing that continues to amaze me. Yes, I'm at TBS. I graduated Fox company and agreed to stick around for when the Naval Academy students come up this summer. My kids don't get out of school until June and I just wanted to move all at once instead of piecemeal. It made sense to stick around a few more months. Nice to hear from another Jarhead with the same dream of cashing in on the Dinar. I really hope that it works out. I plan on giving some to charity, buying more real estate, and investing the rest if it all works out. (some of it in the Iraqi stock market when it opens up to foreign investors. Pepsi Iraq is selling for less than a cent right now!) Good luck to you.

-- May 5, 2005 12:21 PM ∞

Sara Madgid wrote:

U.S. Says Zarqawi May Be Ill
Military Investigates Reports He Was at Ramadi Hospital
By Ellen Knickmeyer
Washington Post Foreign Service
Thursday, May 5, 2005; Page A21

AL ASAD AIR BASE, Iraq, May 4 -- The U.S. military is examining reports that insurgent leader Abu Musab Zarqawi was present last week at a hospital in Anbar province and the possibility that he may be ill or wounded, officials said Wednesday.

U.S. officials gave no details as to why they believe Zarqawi may be sick or injured. But U.S. military authorities were quoted this month as saying that Zarqawi had left medical information about himself on a laptop computer that was seized Feb. 20 in his closest known call with American pursuers. When his car was pulled over at a checkpoint outside Ramadi, Zarqawi fled on foot, leaving behind the laptop, photos of himself and contacts, officials said.

It was not clear whether suspicions about his health were linked to the seizure of the computer or grew directly out of Zarqawi's reported presence last week at a hospital in Ramadi, the capital of restive Anbar province.

Riyadh Abu Dhiba, an insurgent in an Iraqi militant group, said Thursday that Zarqawi had been visiting his top aide, who was hurt in an unspecified clash. Abu Dhiba, who belongs to a group called Mohammed's Army, said the Zarqawi aide is a foreigner.

The insurgent said Zarqawi at times has brought doctors to his hiding places to care for the injured. "Zarqawi is not ill at all," Abu Dhiba said.

Iraqi authorities say a suspected top lieutenant of Zarqawi's, Talib Mikhlif Arsan Walman Dulaymi, was captured in February. The government said Dulaymi moved money and equipment around the country for Zarqawi and arranged for safe houses.

Zarqawi's reported near-capture in February raised hope among U.S. military officials of apprehending him. Zarqawi is believed to move frequently to evade American forces.

U.S. military officials said capturing Zarqawi would not end the insurgency. Some say that eliminating the lieutenants who carry out operations for him is more important. But removing Zarqawi from the scene would be seen as a setback to insurgents in general, they said.

http://www.washingtonpost.com/wp-dyn/content/article/2005/05/04/AR2005050402277.html

-- May 5, 2005 3:48 PM ∞

Sara Madgid wrote:

Wonder why this didn't lead on the network news? It didn't.. bleed?

Iraqi, U.S. forces capture 84 terrorists

BAGHDAD (Army News Service, May 3, 2005) � The Iraqi Army, police and U.S. Soldiers apprehended 84 suspected terrorists in 19 different combat operations conducted in and around Baghdad May 1 and 2.

The largest operation netted 40 terror suspects during raids carried out early in the morning May 2. Thirteen more suspected terrorists were captured in four other missions conducted Monday morning.

On May 1, Iraqi Security Forces and U.S. Soldiers conducted seven different missions and took 31 terror suspects into custody. The largest operation occurred after a terrorist fired a rocket-propelled grenade at a Task Force Baghdad patrol.

The Soldiers saw the gunner run down an alley and into a nearby mosque. U.S. Forces secured the area and Iraqi citizens on the scene identified the attacker. Iraqi police arrived at the site, entered the mosque and detained 18 suspects, including the attacker.

In a separate incident, three local national males parked a vehicle near a busy traffic circle in east Baghdad and exited the vehicle moments before it detonated.

While Task Force Baghdad Soldiers secured the area, Iraqi police detained the three suspects, who had tried to leave the scene in a taxi.

Iraqi Army and Iraqi police forces took an additional five suspects into custody during two other operations.

�The Iraqi Security Forces continued improvement and steady progress is to be applauded,� said Lt. Col. Clifford Kent, a Task Force Baghdad spokesperson. �More and more the Iraqi Army and Iraqi police forces are taking the fight to the terrorists and they�re succeeding in stopping them.�

In southeast Baghdad, residents of the Salman Pak neighborhood turned a weapons cache in to the Iraqi police. The Iraqi citizens gave the police 24 rockets, one improvised rocket launcher, 10 hand grenades and small arms ammunition.

In west Baghdad, two Task Force Baghdad units struck improvised explosive devices, and another unit came under small arms fire.

No one was injured in any of the three attacks, and the Soldiers captured a total of five suspects in the area of the three attacks.

(Editor�s note: Information provided by Task Force Baghdad.)

http://www4.army.mil/ocpa/read.php?story_id_key=7274

-- May 5, 2005 4:06 PM ∞

Bill1 wrote:

All,

Here's a very good / recent (May 3, 2005) article on the Iraqi Oil prospectus.

http://www.iht.com/articles/2005/05/02/news/oil.php

Very Sobering... The issues involved in this article are major, and will drive the Iraqi economy for some time to come.

Cheers,

Bill

-- May 6, 2005 10:27 AM ∞

Sara Madgid wrote:

Bill;

Was reading the Eeyore article above, which stated:
"... the new Iraqi government's glaring failure last week to agree on an oil minister and the sectarian bargaining over this crucial appointment, as well as the unabated insurgency, have been new reminders of the political faults that keep the country's petroleum promise unrealized."

Then I saw this positive article:

Negotiators say final deal is near on Iraq�s new cabinet
(AFP)
6 May 2005

BAGHDAD - Iraq�s all-important defence and oil ministry ministers are expected to be named at a meeting on Friday between winning Shiite bloc and Sunni negotiators after more than three months of haggling, political sources told AFP.

Ibrahim Bahr al-Ulum, a Shiite, will be named oil minister, Shiite MP Ali Dabbagh told AFP.

Ulumm held the post under the former US-appointed Governing Council in 2003.

The powerful defence ministry portfolio is expected to go to Saddun Dulaimi, a Sunni and the electricity ministry to Mohsen Shalash, a Shiite and Canadian exile, Dabbagh said.

�The defence and oil posts are about finalized,� said Laith Kubba, a spokesman for Prime Minister Ibrahim Jaafari�s United Iraqi Alliance (UIA) bloc.

Shiites and Kurds who won the January 30 election to a new 275-member parliament promised the defence ministry post to minority Sunnis, under-represented in parliament, in part because of their boycott of the polls.

The UIA has called for a national unity government in an attempt to bring all ethnic groups into the political process and end the country�s violent insurgency.

The delay in naming the defence minister resulted from the refusal by Shiite leaders to appoint Sunni candidates considered to have been close to the former regime of Saddam Hussein.

Sunni Vice President Ghazi al-Yawar boycotted the government�s swearing-in ceremony on Tuesday after a slate of names he had put forward was rejected, one of his spokesmen said.

Jaafari is also expected to appoint two more deputy premiers.

One could be filled by Abed Mutlak Jabouri, a Sunni and a former Republican Guard general. The other could go to an ethnic Turkman, Dabbagh said, without giving a name.

Jaafari and 29 other government officials were officially sworn in on Tuesday. The prime minister temporarily assigned other officials to fill empty slots in the cabinet.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May37.xml§ion=focusoniraq

-- May 6, 2005 2:44 PM ∞

Sara Madgid wrote:

US Army reports success in breaking up Zarqawi�s network
(DPA)
7 May 2005

WASHINGTON - The US Army said Friday it has captured or killed more than 20 of Abu Musab al-Zarqawi�s lieutenants and other high-ranking network members over the past several weeks.

Hundreds of other members of Zarqawi�s terror network also have been captured and killed, said a statement from Multinational Force Iraq headquarters posted at the DefenseLink.mil website.

Coalition forces just missed capturing the insurgent leader during a raid on February 20, the statement said. Zarqawi was able to escape capture as coalition forces closed in on his vehicle. But Zarqawi�s driver, Abu Usama, was captured.

�Although Zarqawi�s network has been diminished, his followers can still muster forces for attacks,� said Colonel Don Alston, spokesman for the Multinational Force Iraq. �Zarqawi represents the worst aspects of the insurgency. He�s a foreign terrorist in Iraq, killing innocent Iraqis, and trying to delay them from their chosen destiny.�

The US military is examining reports that Zarqawi was present last week at a hospital in Anbar province, and the possibility that he may be ill or wounded, the Washington Post reported this week.

US military authorities didn�t say what his illness was, but they have been quoted as saying they found medical information about Zarqawi on the laptop seized February 20.

The US government has offered a 25-million-dollar reward for information leading to al-Zarqawi�s capture

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May40.xml§ion=focusoniraq

-- May 7, 2005 2:33 AM ∞

Sara Madgid wrote:

'Al Qaeda hit squad' arrested
Friday, May 6, 2005 Posted: 9:57 AM EDT (1357 GMT)

ISLAMABAD, Pakistan (CNN) -- Pakistan authorities have arrested 18 people thought to be part of the terrorist network of Abu Faraj al-Libbi -- al Qaeda's alleged No. 3 man captured this week after a shootout, according to intelligence officials.

In the course of the effort to seize the people, agents learned some of those detained were planning to assassinate President Pervez Musharraf, the officials said. There have been previous attempts on his life.

Al-Libbi -- blamed for masterminding two assassination attempts against Musharraf -- is a Libyan and has a $10 million bounty on his head.

"He was the most wanted man in Pakistan, and he's a big catch," Pakistani Information Minister Sheikh Rashid Ahmad said. "It's a good sign and we are going in the right direction."

U.S. President George W. Bush hailed the arrest of al-Libbi and that of 10 other suspected al Qaeda members as a "critical victory in the war on terror."

http://www.cnn.com/2005/WORLD/asiapcf/05/06/pakistan.arrests/index.html

-- May 7, 2005 2:39 AM ∞

Sara Madgid wrote:

US warns Syria over militant financing
First Published 2005-05-05

Top US Treasury official demands Syria do more on curbing militant financing if it wants to retain access to hard currency.

WASHINGTON - The financial front of the war on terrorism is paying off, but Syria for one must do far more if it wants to retain access to hard currency, a top US Treasury official said Wednesday.

Middle Eastern countries in particular are choking off extremists' sources of cash in response to pressure from Washington, said Under Secretary Stuart Levey of the Treasury's Office of Terrorism and Financial Intelligence.

"We are seeing terrorist groups avoiding formal financing channels and instead resorting to riskier and more cumbersome conduits like bulk cash smuggling," he said in testimony to two congressional sub-committees.

"And, most importantly, we have indications that terrorist groups like Al-Qaeda and Hamas are feeling the pressure and are hurting for money," he said.

Levey said countries in the Middle East and further afield had acceded to US demands for a clampdown on both regular banking channels as well as on informal networks for raising cash, such as Islamic charities.

Levey cited Syria's failure to return over 250 million dollars of Iraqi assets to the new government in Baghdad, and "the flow of funds and other support across the Syrian border to the Iraqi insurgency".

"We made clear that Syria would either take effective steps to address our long list of concerns, or we would cut it off from our financial system."

http://www.middle-east-online.com/english/?id=13415

-- May 7, 2005 3:13 AM ∞

Sara Madgid wrote:

Many Moved by Photo of Soldier, Iraqi Child
ABC News

May 5, 2005 � A photo of a U.S. soldier clinging to a fatally injured Iraqi child has managed to capture attention and much of the violence rampant in Iraq.

Maj. Mark Bieger is shown tending to an Iraqi girl, who died in a dual blast attack in Mosul, Iraq, on Monday. Freelance photographer Michael Yon said Bieger was running to get her to an U.S. Army hospital for help.

"He wanted to get her to American surgeons immediately. So Maj. Bieger wrapped the little girl up in the blanket," Yon said. "He was telling soldiers, 'We're moving out.' "

Yon said Bieger tried to comfort the little girl as he cradled her, stopping every so often to talk to her.

Bieger is the operations officer of an Army Stryker unit in Mosul, which conducts dangerous search and destroy missions.

Bieger has three children of his own. His wife, Amy, says he was undoubtedly thinking of them at that moment.

"That is exactly how he would take care of any other child that he saw in need, just like he would his own," she said.

The American surgeons could not save the little girl. She and another child died as a result of the attack, and another 15 were injured.

"He just kept saying it was a very bad day," said Amy, "so I knew it tore him up."

http://abcnews.go.com/WNT/story?id=732523

-- May 7, 2005 3:27 AM ∞

Carl on Wilson Lake wrote:

CONVERSION RATE OF DINAR TO GCC
I have been reading up on the GCC Currency, which I feel will have a major affect on the dinar. We know the GCC is following the same conversion procedures as they did with the Euro, in the process of setting up the euro currency.
So it stands to reason, the GCC will do the same thing as the EU countries in their conversion rates.
In a surprise move, on the day before the EU countries made their conversion to the Euro Dollar, they locked in the conversion rate.
The Countries were very concern about spectculation on the euro and participating countries currency value. So to prevent the spectculation they locked in the rates.
Given this model, the conversion rate,(for the lack of a better name,I will call it the . "Currency Union") for the Iraqi dinar will be the conversion rate at whatever the dinar value is at the day before the conversion date.
It is better for us dinar investors, if the union currency is not enacted until 2010, as this will give the dinar more time to gain value against the USD as Iraq stablizes.
I believe I was mistaken, in a earlier post when I said, the dinar would exchange at 3.75 to the Dollar, based on the Saudi Riyal. This was due to my misunderstanding of the how they did the conversion.
The time frame for the countries to convert to the euro, and their existing currency was no longer of value was 3 years.
None of this will occur if Iraq is not accepted into the GCC.
Again, this is my intrepretation on the euro currency exchange and how it will affect the dinar.
I would like someone from the EU countries, or familiar with a EU country conversion to the euro, to please comment on what they saw and experienced. I believe dinar investors can expect the same model conversion.

-- May 7, 2005 8:34 AM ∞

Sara Madgid wrote:

Iraq agrees final cabinet posts
By Reuters. Saturday May 7, 2005. 4.16pm

Iraq�s leaders reached a deal on contested cabinet posts on Saturday to break months of deadlock, agreeing on a Sunni Arab defence minister to combat insurgents who have launched a blitz of bomb attacks over the past week.

Since Iraq�s political factions unveiled a new cabinet last week after months of squabbling, guerrillas have mounted a wave of deadly attacks, killing more than 300 people and defying government predictions that the insurgency was crumbling.

Many Iraqis say the delay in forming a government after the historic Jan. 30 elections allowed the insurgents to regroup.

Sources in the two strongest blocs in parliament, the Shi�ite Islamist-led United Iraqi Alliance and the powerful Kurdish coalition, said on Saturday agreement had been reached on filling the vacant ministries, including defence and oil.

They said Saadoun al-Dulaimi, a Sunni Arab, would be the new defence minister while Ibrahim Bahr al-Uloum, a Shi�ite, would run the oil ministry.

Prime Minister Ibrahim Jaafari confirmed a deal had been reached on five vacant cabinet posts and said it would be put to parliament for approval on Sunday. Talks are still going on to finalise the full line-up of deputy prime ministers.

Iraq�s Sunni Arab minority, dominant during the rule of Saddam Hussein, was sidelined after the Jan. 30 elections as most Sunni Arabs stayed away from the polls due to calls for a boycott and fears of insurgent attacks. There are only 17 Sunni Arab lawmakers in the 275-member parliament.

Shi�ite and Kurdish leaders agreed to give important cabinet posts including the defence ministry to Sunni Arabs to try to defuse ethnic and sectarian tensions and undermine the insurgency, mainly fought by Sunni Arab guerrillas.

Iraq�s government and the U.S. military say they are making progress against the insurgents. The government said on Saturday that an aide to Abu Musab al-Zarqawi, al Qaeda�s leader in Iraq, had been captured in a raid west of Baghdad in April.

The aide, Ghassan al-Rawi was the leader of insurgents in the town of Rawa in western Iraq, the government said.

� Reuters Limited
http://news.ft.com/cms/s/bd6ccd22-bf14-11d9-bf4a-00000e2511c8.html

-- May 7, 2005 6:56 PM ∞

Sheraz wrote:

Sara

reading your posts regularly, you are doing a great job for all of us having spent a lot of your valued time.

thanks and take care and keep posting great articles.

Sheraz

-- May 8, 2005 6:38 AM ∞

Sara Madgid wrote:

Thanks, Sheraz.

Iraqi parliament approves new �national unity� government
(AFP)
8 May 2005

BAGHDAD - Iraq�s parliament Sunday approved a "national unity� cabinet, ending months of bitter haggling that many fear allowed insurgents to seize the initiative by multiplying attacks that have left at least 250 dead in just over a week.

The approval of the final six cabinet posts came a day after a massive explosion in central Baghdad killed at least 18 people, including two American security guards.

But the US military announced the arrest of more than 100 suspected insurgents, including 54 allegedly linked to Al Qaeda frontman Abu Musab al-Zarqawi�s network, in a series of weekend raids.

More than three months after the landmark elections, Iraq�s 275-member national assembly finally approved the nominees for six posts in Prime Minister Ibrahim Jaafari�s government which had remained empty since a partial cabinet was sworn in on May 3.

Saadun al-Dulaimi, a Sunni Arab, was appointed defence minister.

The oil ministry went to Ibrahim Bahr al-Ulum, son of a prominent Shiite cleric, who previously held the post in the interim administration appointed by US-led forces in September 2003.

The three other ministers and one deputy premier appointed Sunday included three Sunnis and one Shiite.

When he was officially appointed prime minister on April 7 -- more than two months after his Shiite alliance won the election�Jaafari had said he would form a government within a week or two.

But negotiations ran into trouble as Shiites, Kurds and Sunnis competed for key jobs in Iraq�s first democratically-elected government in half a century.

Near the Syrian border, US-led forces arrested more than 50 suspected insurgents with alleged links to Abu Musab al-Zarqawi�s network, in a series of raids, the US military said.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May52.xml§ion=focusoniraq

-- May 8, 2005 9:29 AM ∞

RON wrote:

HI ALL
SARA AND CARL THANKS FOR ALL THE INFORMATION ON DIFFERENT SITUATIONS IN AND ABOUT IRAQ,ITS PEOPLE,AND THE NID.
KEEP THOSE POSTS COMING.RON

-- May 8, 2005 12:45 PM ∞

Sara Madgid wrote:

Iraq opens up stock exchange for foreigners

Sunday, May 08, 2005
(MENAFN) The CEO of the Iraqi Businessmen Union announced that Arab and foreign investors are now allowed to enter the Iraqi securities market and invest up to 49 percent in the shares of listed Arab companies, Alkhaleej newspaper reported. According to the newspaper, the CEO added that the management of the stock exchange is expected to prepare the financial and administrative rules establishing a special section for Arab and foreign investors. Experts have said that the move is vital to the improved development of the Iraqi financial market.
Copyright �2000 MENAFN All Rights Reserved

http://www.tbiraq.com/menafn_news_bl.asp?inc_name=news_details&n_id=90859

-- May 8, 2005 3:00 PM ∞

Sara Madgid wrote:

Interesting and salient points...

May 8, 3:27 PM EDT
By QASSIM ABDUL-ZAHARA
Associated Press Writer

BAGHDAD, Iraq (AP) -- Parliament approved all six of the nominees placed before it Sunday by Prime Minister Ibrahim al-Jaafari. But one of the four Sunnis, the man tapped as human rights minister, rejected the post.

Once that position is filled, only one vice premiership will remain open. Al-Jaafari said he hopes to name a woman to that job, filling out a Cabinet after more than three months of political wrangling since the country's landmark democratic elections.

U.S. and Iraqi forces hit back over the weekend, capturing 109 suspected insurgents and killing six in a series of raids, the U.S. military said. Among those captured was an unidentified senior military officer in Saddam's government.

Iraqi politicians spent the first three months after historic elections Jan. 30 trying to form a Cabinet, but al-Jaafari argued Sunday the delay was necessary to ensure those selected had broad support.

"The need to represent all sectors of Iraq was the reason for the delay," he told reporters after the parliament vote. "Time was not spent in vain."

President Jalal Talabani and his two vice presidents signed off on the names before they were submitted to the 275-member National Assembly for a vote. The new ministers were expected to be sworn in within days.

When complete, the government was to include 17 Shiite ministers, eight Kurds, six Sunnis and a Christian. Three deputy premiers also have been named - one each for the Shiites, Sunnis and Kurds, with the fourth held open for a woman.

The defense ministry went to Saadoun al-Duleimi, a former lieutenant colonel in Saddam Hussein's General Security Directorate who left Iraq in 1984 and lived in exile in Saudi Arabia until Saddam's fall in April 2003. A moderate, he comes from a powerful Sunni tribe in Anbar province, the homeland of the insurgency.

The oil ministry was returned to Ibrahim al-Uloum, a Shiite who was accused of inexperience when he held the post in the first U.S.-picked Cabinet formed in the early months after the American-led invasion toppled Saddam.

Hashim Abdul-Rahman al-Shibli said he could not accept his appointment as human rights minister. The Kurdish environment minister, Narmin Othman, will act as human rights minister until a replacement is found, al-Jaafari's aides said.

The other nominees were Mihsin Shlash, a Shiite, electricity minister; Osama al-Nujaifi, a Sunni, industry minister; and Abed Mutlak al-Jiburi, a Sunni, a deputy prime minister.

Al-Jaafari pledged Sunday to take "all necessary measures" to restore security and said the government could impose martial law, if necessary. He did not elaborate.

The Iraqi government said its security forces captured an associate of the country's most wanted militant, Abu Musab al-Zarqawi, on Thursday. He was identified as Ammar Adnan Mohammed Hamza al-Zubaydi, also known as Abul Abbas.

http://ap.washingtontimes.com/dynamic/stories/I/IRAQ?SITE=DCTMS&SECTION=HOME

-- May 8, 2005 4:14 PM ∞

Sara Madgid wrote:

Gulf nations discuss unified currency

Also on table: free trade agreement with U.S.

Saturday, May 7, 2005 Posted: 8:05 PM EDT (0005 GMT)

MANAMA, Bahrain (AP) -- Finance ministers from six Gulf states met Saturday to discuss economic integration, including a unified currency and a free trade agreement with the United States, an official said.

Washington wants free trade deals with numerous Middle East countries as a prelude to President Bush's ultimate goal of creating a regional free trade area by 2013.

Bahrain has its own agreement awaiting U.S. Congress ratification. Two other members of the six-state Gulf Cooperation Council -- Oman and the United Arab Emirates -- have started talks on free trade deals with the U.S.

"We had a very constructive meeting on several economic issues," GCC assistant undersecretary for economic affairs Mohammed al-Mazrooei said.

The GCC is a loose political and economic alliance comprising Saudi Arabia, Kuwait, Bahrain, Qatar, Oman and the United Arab Emirates.

In 2001 the six GCC countries agreed to adopt a single currency, similar to the European Union's Euro, by 2010. They hope the move will boost regional trade and economic integration.

Aside from the planned monetary union, al-Mazrooei said the two-hour closed-door meeting also discussed the free trade agreement between the GCC and the U.S.

"There are new ideas and new proposals on this issue which will be discussed later this year," said al-Mazrooei adding the free trade agreement and other economic issues will be taken up at an October meeting in the United Arab Emirates.

The hope is that greater trade with the United States will bolster economic growth and help support the goals of fighting terrorism and spreading democracy.

Regional powerhouse Saudi Arabia has criticized individual Gulf countries for seeking individual free trade agreements, describing them as accords that would weaken the collective bargaining power of the council and its members.

http://www.cnn.com/2005/WORLD/meast/05/07/gulf.us.ap/index.html

-- May 8, 2005 6:43 PM ∞

Sporter wrote:

Joint monetary union for GCC; Common currency soon

MANAMA (KUNA): Kuwaiti Minister of Finance Badr Mshari Al-Homaidi confirmed on Saturday that the six-state Gulf Cooperation Council (GCC) planned to establish a joint monetary authority, issue a joint currency and enforce regulations that organize banking services.In a statement to journalists following a scheduled meeting of the GCC Financial and Economic Cooperation Committee, Al-Homaidi said participants in the meeting addressed more than 15 topics including hurdles obstructing the planned GCC economic integration.

He indicated that sufficient time is needed for setting up the common Gulf market, the common monetary union and issuance of the single GCC currency.Mohammed Al-Mazrouee, the Kuwaiti ministry's assistant secretary general for economic affairs, said the conferees approved certain follow-up measures concerning the common market, planned to materialize by the end of 2007.According to the GCC unification plans, GCC citizens will be allowed to launch businesses in the six member states without restrictions and trade in stocks freely, he said, in addition to launching businesses in employment, car rental and real-estate.

Concerning the topics of the meeting of the governors of the GCC central banks, he said they agreed on finalizing criterion for the financial and monetary integration by the yearend. They also debated shape of the planned single currency. The Kuwaiti minister, accompanied by a delegation, arrived in the country on Friday to take part in the 68th meeting of the GCC committee. The meeting's agenda deals with a report related to the GCC tariff and customs unification committee particularly the notion of establishing a GCC customs information processing center.

http://www.arabtimesonline.com/arabtimes/business/Viewdet.asp?ID=3843&cat=a

-- May 8, 2005 8:02 PM ∞

Sara Madgid wrote:

Iraq's oil minister vows higher output
09.05.05 9.40am

BAGHDAD - Iraq's new oil minister, Ibrahim Bahr al-Uloum, said last night his ministry would follow a new motto in a country gripped by guerrilla bombings and sabotage of pipelines: "Fight corruption and boost production."

Shortly after parliament approved Bahr al-Uloum to head one of the country's most strategic portfolios, he vowed to lift exports to 1.75 million barrels per day and tackle corruption.

Bahr al-Uloum called on the Iraqi people and fledgling security forces to help improve the oil industry and combat sabotage, which has deprived Iraq of billions of dollars in crude revenues needed to repair a battered economy.

"(Higher) production and exports and products can only be achieved with two conditions," he said.

"First the cooperation of the people and their taking responsibility for this important oil sector. The other issue is the cooperation of the security forces in the Interior Ministry and Defence Ministry with the Oil Ministry." After the US-led invasion toppled Saddam Hussein, Iraq had high hopes of returning to the oil market as a major power after years of United Nations sanctions that ravaged its energy industry and deprived the country of an Opec output quota.

But guerrilla bombings targeting US-led troops and any Iraqi forces associated with them dashed Iraq's hopes.

Despite huge challenges ahead, Bahr al-Uloum sounded a note of optimism, promising to revive Iraq as a player in the oil market and Opec: "Iraq's position is positive in the oil market and it actively participates in stabilising prices and increasing production."

- REUTERS
http://www.nzherald.co.nz/index.cfm?l_id=52&ObjectID=10124569

-- May 8, 2005 11:25 PM ∞

Sara Madgid wrote:

Dinar Board;

The article above, "Iraq opens up stock exchange for foreigners" is great news, don't you think? Any comments?

Sara.

-- May 8, 2005 11:46 PM ∞

Sheraz wrote:

Sara,
thanks for your response, now that all ministries are occupied by the appropriate personnel, stock exchange is open to the foreigners and let us presume that security situation is calm and routine life in Iraq has been started, what do u think about dinar,,basis of its increased in exchange rate, when and how much etc,,,,pls let us have your personal views,
thanks
Sheraz

-- May 9, 2005 4:36 AM ∞

Sara Madgid wrote:

Sheraz;

We think the opening of the stock exchange is a boon for the people of Iraq and the investors who will put their money into that exchange. Those participating will see an increase in the stocks due to the stocks going up AND they will see an increase in the value of the stocks because the Dinar will become stronger in worth.. a double rise! The stock market of the COUNTRY of Iraq is an emerging market so it is subject to more volatility, as is the Dinar currency, but overall we see the prospects for the ISX AND the Dinar as having very good upside potential for those willing to risk it. We read an article yesterday that said that Iraq is exactly where Japan was after WW2. Accordingly, there are fortunes to be made on this emerging market, is our belief.

Sara.

-- May 9, 2005 9:43 AM ∞

Sara Madgid wrote:

US forces kill 75 insurgents in desert sweep near Syrian border
(AFP)
9 May 2005

BAGHDAD - US forces have killed 75 insurgents, including foreign fighters, over the past 24 hours in an ongoing sweep of a desert region of northwest Iraq close to the Syrian border, the US military said on Monday.

The operation, involving air and ground forces, has been launched in Al-Anbar province, �north of the Euphrates River, in the Al-Jazirah desert�, the military said in a statement.

It said the region was �a known smuggling route and sanctuary for foreign fighters�.

US forces reported early Sunday that they had killed six and arrested 54 suspected insurgents in a series of raids in the area targeting Al Qaeda frontman Abu Musab al-Zarqawi�s rebel network.

The commander of US forces in the Gulf, General John Abizaid, earlier this month accused Syria of ignoring US demands to stop foreign fighters crossing the border into Iraq and �terrorists� operating from Syrian territory.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May60.xml§ion=focusoniraq

-- May 9, 2005 10:53 AM ∞

Sara Madgid wrote:

Iraq's President does not fear Civil War.

Sara.

Iraq president says militants funded from abroad
(Reuters)
9 May 2005

AMMAN - Iraq�s two-year insurgency led by Al Qaeda�s Abu Musab al-Zarqawi is being funded by supporters of a strict Saudi-based Muslim sect and some foreign countries, the Iraqi president said, without naming the states involved.

President Jalal Talabani told Reuters in an interview he believed Zarqawi had been weakened and isolated and there was no fear of civil war in Iraq, which has suffered a spate of bombings designed to undermine its new government.

Talabani, who left Amman en route to an Arab-South American summit in Brazil, said Jordanian-born Zarqawi�s capture could be close and the leadership of the group, which has claimed some of the deadliest bombings in Iraq, had been decimated.

Hundreds of members of Zarqawi�s group have either been captured or killed by US and Iraqi troops, he said, adding that recent Baghdad car bombings were a sign of desperation by the predominantly Sunni Muslim insurgency.

�These last acts in which car bombings have escalated are evidence of weakness. The overall number of terror attacks has fallen sharply,� Talabani said, in contrast to US military estimates that the guerrillas recently gained ground.

�They have been dealt a severe blow and weakened a lot and you can say they have been isolated by people who are angry with their crimes,� Talabani said.

He ruled out civil war driven by rising communal tensions between Shi�ites and Sunnis and a wave of sectarian killings.

�The Zarqawi group is trying to sow dissension and civil war but they will not succeed. I don�t fear civil war in Iraq.�

Since Iraq�s political factions unveiled a new�though incomplete�cabinet last week, guerrillas have mounted a wave of deadly attacks, killing more than 300 people.

But Talabani said insurgents had lost key strongholds such as Falluja, where a US led military offensive last November killed or captured scores of guerrillas.

�They controlled Falluja, Ramadi and they controlled Mosul and Samarra where are they now?� he asked.

�In key areas such as Mosul and Kirkuk we have almost liberated them from the terrorists.�

Talabani denied that violence in Iraq was tied to alienation by Iraq�s Sunni Arab minority�dominant during the rule of Saddam Hussein but sidelined after the Jan. 30 elections.

�They learnt a good lesson,� he said. �I believe they will participate in the next elections and if they do for sure they will have a large number of representatives.�

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May61.xml§ion=focusoniraq

-- May 9, 2005 11:03 AM ∞

Sara Madgid wrote:

Senior al-Qaeda member arrested
May 09 2005 at 08:49AM

Baghdad - Iraqi forces have arrested a key suspect in the wave of suicide bombings that has rocked the capital, the government said on Sunday, hailing its second blow in as many days against the network of al-Qaeda frontman Abu Musab al-Zarqawi.

"Terrorist Ammar Adnan Mohammed Hamza Zubaidi, known as Abu Abbas, was arrested on Thursday in a raid in a Baghdad district," a government statement said.

Zubaidi is suspected of involvement in an April 2 attack on Abu Ghraib, in the western outskirts of the capital, and a series of suicide bomb attacks on April 19 that killed "scores of innocent civilians," the statement said.

Documents seized at the time of his arrest suggest Zubaidi was planning an attack on a high official, the statement added.

He is believed to have used shells and explosives stolen from a weapons depot in Yusufiyah, just south of the capital, to prepare car bombs for use in his attacks.

Zubaidi admitted giving explosives to another insurgent believed to be responsible for 75 percent of the car bomb attacks in Baghdad, the government statement said.

Security forces were led to Zubaidi by information gleaned from the capture of a senior Zarqawi commander in the Euphrates valley town of Rawah on April 26, it added.

The government announced the capture of Ghassan Mohammed Amin Hussein al-Rawi on Saturday, saying he was suspected of resorting to kidnaps for ransom to fund his campaign of car bomb attacks against the security forces and their United States allies. - Sapa-AFP

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw1115612461672B262

-- May 9, 2005 11:09 AM ∞

Sporter wrote:

Iraq opens up stock exchange for foreigners

Sunday, May 08, 2005
(MENAFN) The CEO of the Iraqi Businessmen Union announced that Arab and foreign investors are now allowed to enter the Iraqi securities market and invest up to 49 percent in the shares of listed Arab companies, Alkhaleej newspaper reported. According to the newspaper, the CEO added that the management of the stock exchange is expected to prepare the financial and administrative rules establishing a special section for Arab and foreign investors. Experts have said that the move is vital to the improved development of the Iraqi financial market.
Copyright �2000 MENAFN All Rights Reserved

http://www.tbiraq.com/menafn_news_bl.asp?inc_name=news_details&n_id=90859

-- May 9, 2005 5:09 PM ∞

Michael wrote:

100 Iraqi businessmen expected at JOFREX
By Rami Abdelrahman

AMMAN � The Jordanian-French Exhibition (JOFREX) will provide a platform for Jordanian, French and Arab businesses to enter the Iraqi market, officials said Monday.
More than 100 Iraqi businessmen are expected to participate in the exhibition to be held under the patronage of His Majesty King Abdullah between May 11-14.

According to Abdullah Nsour, the head of the French-Jordanian Business Club, Iraqi ministers and the mayor of Baghdad will also be participating in the conference to enlighten traders and industrialists about doing business with Iraq under the current circumstances.

French Ambassador Jean-Michel Casa said France is ready to reinforce trade exchange with Iraq, adding that the conference will provide many opportunities for companies looking for businesses in Iraq.

Casa added that French companies and agents representing French firms will be participating in the exhibition.

At a workshop on �new conditions to access business in Iraq,� Iraqi officials will deliver a keynote speech, followed by other speeches from Jordanian and Iraqi businessmen.

Participants in the exhibition, the first of its kind in the Kingdom, will seek means to increase two-way trade, exchange of expertise, and increase trade exchange with the EU at large, he said.

Casa stressed that the exhibition will strengthen Jordan's position as a gateway to doing business with the Middle East.

Currently, there are about $700 million of French investments in Jordan, but the amount is expected to grow soon when France Telecom buys more shares in Jordan Telecom, according to the embassy's commercial counsellor Olivier Noury.

He added that French exports to the Kingdom reached euros 200 million last year, while Jordanian exports to France reached euros 10 million.

Tuesday, May 10, 2005

http://www.jordantimes.com/tue/economy/economy3.htm

-- May 9, 2005 5:57 PM ∞

JB Smith wrote:

Posted: 21-03-2005 , 14:55 GMT

President of the Iraqi Businessmen Union, Rida Bleibil, said that the secretariat of government has informed that Arab and foreign investors are allowed to enter the Iraqi securities market and invest up to 49 percent in the shares of listed Iraqi companies.

Bleibil added, according to Alkhaleej newspaper, that the management of the stock exchange market is expected to prepare the financial and administrative rules and establishing a special section for the Arab and foreign investors.

Experts said that the move was vital to improve and develop the Iraqi financial market.

� 2005 Mena Report (www.menareport.com)
http://www.albawaba.com/en/countries/Iraq/181627

:rolleye:

Note,
...the management of the stock exchange market is expected...

When someone here reports he has actually made a trade on the ISX, then you can consider it "open to foreigners."
and then everyone can say,
"Great news!"
because at that time, it will be news.
.

-- May 9, 2005 7:26 PM ∞

juikster wrote:

If we here in the U.s. can't trade but on the ISX shares are being traded, then who is it thats trading? Is it just internal(Iraqi investors)?

-- May 9, 2005 8:11 PM ∞

JB Smith wrote:

juikster wrote:
> who is it thats trading? Is it just
> internal(Iraqi investors)?

AFAIK, yes,
it is just Iraqi investors
however
i am not there,
and i would suspect there are advantages to being in the neighborhood, Iraqi or not,
and it might help to be an Arab
which i can't even fake.

And i'm sorry if i was a sh*head about it,
the thing is i don't have the liquid assets
to send to an Iraqi bank acct. at this time,
and so it irritated me when people
erroneously told me i was late for the train.

sorry.

Anyway at the link given,
is all the information you will need
if you are curious about ISX,
they /have/ bank accts. and stock picks
at ready,
the minute it happens.
I only hope,
i only need a few more weeks,
Because i ahve a feeling this could be like buying penny stocks
with Microsoft potential.
OK not, but close enough for me,
i'm too old to get anywhere without risk.
.

-- May 9, 2005 8:58 PM ∞

guy incognito wrote:

hey all,
exciting news about the market opening up hopefully now we'll see foreign investors coming in droves to strengthen the economy. i see the steam plume around the bend i hope it's the dinar train. Sara, Sporter, Bill, Ron see you in the dining car the first round is on me.

-- May 10, 2005 3:53 AM ∞

Sheraz wrote:

Sara
thanks for your comments, its really great news that ISX is open for foreigners as well, but, would pls spare some time to compare Iraqi Dinar with Afghani as during was Afghani was almost worthless, but after a couple of years, now its much much strong keeping in view No Stock Exchange business, No oil export and strong infra structure and insurgency still going on,,,,did u hear any comments from the new Finance Minister of Iraq, any news from CBI etc,,,,
best wishes

Sheraz

-- May 10, 2005 6:27 AM ∞

Leo wrote:

Afghani hasn't appreciated in value. They just struck off two zeroes. The NID has however more potential, I believe the Iraq government is trying to buy back NID from the market.

-- May 10, 2005 7:50 AM ∞

Mike wrote:

I am interested in buying NID but wonder what the income-tax and capital-gains implications are? When I sell the NID several years from now, do I owe taxes?

-- May 10, 2005 9:58 AM ∞

Sara Madgid wrote:

First Saudi Arabia, now Pakistan, surely Iraq can also succeed in its anti-terrorist aims?

May 10, 2:41 PM EDT
AP: Ethnic Rifts Tearing at al-Qaida
By PAUL HAVEN and KATHERINE SHRADER
Associated Press Writers

ISLAMABAD, Pakistan (AP) -- American and Pakistani intelligence agents are exploiting a growing rift between Arab members of al-Qaida and their Central Asian allies, a fissure that's tearing at the network of Islamic extremists as militants compete for scarce hideouts, weapons and financial resources, counterterrorism officials say.

The rivalry may have contributed to the arrest last week of one of Osama bin Laden's top lieutenants, a Libyan described as al-Qaida's No. 3 and known to have had differences with Uzbeks. Captured Uzbek, Chechen and Tajik suspects have been giving up information about the movements of Arab al-Qaida militants in recent months, four Pakistani intelligence agents told The Associated Press, leading to a series of successful raids and arrests.

"When push comes to shove, the Uzbeks are going to stick together, and the Arabs are going to stick together," said Kenneth Katzman, a terrorism expert with the Congressional Research Service in Washington.

Information from captive Uzbeks and Chechens - as well as paid informants working with Pakistani and American intelligence - helped authorities carry out a devastating raid on al-Qaida's training camp in Shakai in June 2004, Pakistani officials told AP.

That raid was a turning point, driving al-Qaida militants from their hideouts and making them easier to find.

Pakistani security agents say they're confident they have broken al-Qaida's back, although bin Laden and al-Zawahri remain at large.

"Al-Qaida is no longer intact in Pakistan as a network," said Gen. Shaukat Sultan, the chief army spokesman. "Every organization needs a command structure and communication, and we have effectively destroyed both of them."

http://ap.washingtontimes.com/dynamic/stories/A/AL_QAIDA_ETHNIC_RIFT?SITE=DCTMS&SECTION=HOME

-- May 10, 2005 3:08 PM ∞

Sara Madgid wrote:

Sheraz;

I don't know much about the Afghani situation. It does sound, from what you said, like the Afghani has done well - but I agree with Leo, the NID has more potential. The Dinar has so much more going for it.. oil exports, stock exchange, support for infrastructure. The Dinar should do very well.

Sara.

-- May 10, 2005 3:20 PM ∞

RON wrote:

HI SARA,SORRY ABOUT NOT READING YOUR EMAIL TO ME.
ALL OF THIS IS NEW TO ME,AND I AM LEARNING ABOUT THE COMPUTER.
AS MY THOUGHTS ON WHAT YOU WROTE IS THIS.
I BELIEVE THAT IRAQ IS IN THE MIDDLE OF THE GREATEST AREA OF FUTURE WEALTH THAT WILL EVER BE KNOWN TO MANKIND.I MAY BE WRONG,BUT,IN SCRIPTURE I BELIEVE WE CAN COME TO THE UNDERSTANDING THAT IRAQ WILL VERY LIKELY BECOME THE CENTER PLACE OF ALL IMPORTS AND TRADE.MOST OF THE WORLD WILL LOOK AT THE MID-EAST FOR ALL TRADEING.IF THIS HAPPENS THEN THE DINAR WILL BE THE HIGHEST VALUED MONEY IN TH MID-EAST AND POSSIBLY THE WORLD.BUT THEN IT WILL FALL AND COME TO NOTHING.
THIS IS JUST MY THOUGHTS ON THIS SUBJECT.I HOPE THIS IS A HELP.
GOOD LUCK TO ALL AND THE IRAQI PEOPLE.RON

-- May 10, 2005 11:25 PM ∞

Sheraz wrote:

Hi Sara
thanks again for your hard work and time u r spending to keep us update,,,,God Bless You

moreover, pls comment on 25,000 note of dinar i.e. what would be the future once IQD starts trading in the international market and if its peg to US$ with a strong exchange rate, where do u see it if its pegged to US$.
thanks,,,,
Sheraz

-- May 11, 2005 8:08 AM ∞

Realtor wrote:

Whats every one think about this???

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

inflation notes
A Temporary banknote(s) issued by a country during a volatile period to take the shocks of inflation,deflation or hyperinflation
once country becomes stable, the notes are reissued and revalued to lower denoms series.

The present issue of NID or Bremer notes are inflation notes
Thats why they are of such high denoms (25'000,10,000,5000,1000 etc)
They were meant to be temporary only
The new government will reissue and revalue notes once the new government takes over, the country stabilizes etc
They will then 'peg' the dinar to a value as .34 USD /1 NID
and you will exchange say,25'000 NID for 50 new IQD(20,10,1/2,1/4)
value will stay same ,and it will not move from the pegged value.
This is how currency models and IMF and CBI work.
been done many times before with other countries.

found this on another forum

-- May 11, 2005 8:55 AM ∞

BDD wrote:

Hey, everyone. I've been monitoring this thread for some time, but this is my first post here. I am invested in Iraqi dinar as well, but I have some questions about it, not being an economist or anything. I appreciate all of the research from the contributors here. Here are my questions:

1) Dinar speculators apparently agree that the way to analyze a currency of a specific country (for example, country "A") is analogous to the way that you would analyze the stock price of a corporation. (That's why positive developments for the Iraqi economy are perceived as positive for the dinar.) For example, Country A may have an excellent credit rating and a correspondingly low interest rate on its debt, and therefore the currency of Country A is going to be worth more than it would be if Country A had oppressive debt and a bad credit rating. It's the same with a company. If you have a stable cash-flow machine with excellent credit history and a manageable investment-grade debt burden, chances are that this company will have a better stock price than the equity of a startup telecom with an uncertain earnings future and a high yield non-investment grade debt burden at higher interest rates, right? Is this how speculators are looking at the dinar?

2) Assuming that your position is as I've stated it in #1 above (i.e., that the analysis of a currency is similar to that of a stock), how do you account for the effect of quantity of currency in circulation? To return to the corporation analogy, let's say the equity of a company is valued at $500 million, based on a multiple of earnings. There are 50 million shares outstanding, and each share is worth $10. If the company continues to issue shares, and eventually there are 100 million shares outstanding (while earnings remain constant), each share will be worth $5 because of dilution. If you once again double the shares outstanding to 200 million, each share is worth $2.50, and so on. My question is, how do you know that 1460/1 USD is not the correct valuation for the Iraqi Dinar? My understanding is that Iraq's GDP increased by 50% last year, but so did the money supply. I assume, due to basic economics, that the more currency that is issued, the cheaper the value of money becomes. I note all of the comparisons with GCC countries, but have you accounted for the circulations of each of those currencies? For example, here is some of the data I've compiled on the amount of each of the GCC currencies in circulation, as of the end of 2004:

606.3 million units--Kuwait
3.123 billion units--Qatar
60.512 billion units--Saudi Arabia
382.2 billion units--Oman
213.3 billion units--Bahrain
16.838 billion units--UAE
8.02 TRILLION units--Iraq

Again, I am also a dinar investor, but am interested to hear what the economics experts on this board think.

-- May 11, 2005 12:25 PM ∞

nuz wrote:

hi kevin very interesting and informative work u r doing keep it up. actually iwant some information regarding iraqi dinar i bought some iraqi dinars in start of 2004 and these are the old ones so do i need to change them so it should be worthwhile for me and and where can i find the exact rates for iraqi dinars there are so many sites i am confused.and can u give me an idea when the rates are going up for dinar plz mail me iam waiting for u reply thank u fo helping people

-- May 11, 2005 3:35 PM ∞

JB Smith wrote:

Ron,

If you are new to the computer, then you can be forgiven if nobody has told you that typing in capital letters is the Internet equivalent of shouting.

See now i'm speaking normally,
AND NOW I'M SHOUTING.
Now that you know this, you would be doing everyone a kindness if you would
PLEASE STOP SHOUTING.

Thanks
.

-- May 12, 2005 1:38 AM ∞

Realtor wrote:

BUT WE CAN'T HEAR GOOD

-- May 12, 2005 10:11 AM ∞

RON wrote:

hi all,jb thanks for the lesson.
good luck to all.ron

-- May 12, 2005 10:21 AM ∞

Ian wrote:

Realtor,

What is wrong with the 500, 250, 50 notes... The Dinar is not going to open at 1 dinar = 1 dollar so they are going to need higher denoms then 20, 10, 5's.... Don't you think..

I believe there was a post about a huge lack in confidence in Iraq's economic strenght if they pulled the higher denoms all together and re-issued a new currency without pegging first and allowing foriegn investors to "cash out"..

The most likely scenario is that the Dinar will open on the Forex at around 1460 to the dollar and there will be a "trade in" period for foriegn investors. This way investors won't lose their initial investment and Iraq can keep inflation in check.

Just my thoughts... Anybody else have any?

-- May 12, 2005 1:33 PM ∞

Michael wrote:

Dollar hits 6-month high against euro

The dollar had risen 0.8 per cent to $1.2706 against the shared currency by mid-session in New York as retail sales jumped 1.4 per cent in April, double the expected rate, with the closely watched ex-autos measure rising 1.1 per cent against forecasts of 0.5 per cent.

http://news.yahoo.com/s/ft/653faea0c2d211d9abf100000e2511c8

If the NID is alread pegged to the dollar, does this increase of the dollar value mean the value of the NID has to increase to remain pegged to the dollar?

-- May 12, 2005 4:30 PM ∞

Carl on Wilson Lake wrote:

Ron!!
You've been on this board for quite sometime,and longer than most the contributors to this board....I always enjoy reading your comments. I really don't care whether you type in small caps or large caps.
you are a valued member and your comments are appreciated here regardless of how you type them.
Carl

-- May 12, 2005 5:10 PM ∞

klp wrote:

The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

http://www.iraqdirectory.com/files/articles/article053.htm

-- May 12, 2005 7:31 PM ∞

Sporter wrote:

The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

An official source in the Iraqi central bank revealed that the net mass of cash in Iraq reached 6 trillions of Iraqi dinars. The size of circulating cash is 4 trillions dinars.‏
And the source said that the central bank seeks now limitation of inflation that occurred in the time of bygone regime throughout random and unstudied mechanism Of the central bank and that caused a big rise in prices level.‏

He also clarified that the bank managed the reduction of inflation level through last April and hopefully a continuous work will cause eradication of more than 20% of inflation level in order that through coming five years the Iraqi economy enjoys balanced market with active economy.‏
And he pointed that the Iraqi economy is not submitted to budget but to total local product.
The bank now is capable of reinforcement the value of the Iraqi dinar with respect to other currencies.

( Translated from Arabic )

http://www.iraqdirectory.com/files/articles/article053.htm

-- May 12, 2005 7:45 PM ∞

RON wrote:

CARL
thanks for the post.i am learning,and will try to continue to do my best.i look for the letters one at a time,i can not type like the rest of you,but i can stand just as tall.i have alot of fun here,and i learn alot.lets all keep up our best and listen for the whistle of the nid train.
good luck to all ron

-- May 12, 2005 11:29 PM ∞

Sara Madgid wrote:

This May 13, 2005 article:

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May86.xml§ion=focusoniraq&col

It says:

According to Benito Livigni, a former manager of ENI and the United States� Gulf Oil Company, Iraqi�s oil reserves are estimated at 400 billion barrels, far more than the known figure of 116 billion.

If true, this would make Iraq the largest oil producer in the world, ahead of Saudi Arabia, the report says.

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

Notice what THAT would mean to Iraqi Dinar value in the future.

Sara.

-- May 13, 2005 4:08 PM ∞

Sara Madgid wrote:

That article:

The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

http://www.iraqdirectory.com/files/articles/article053.htm

It says that the Iraqi Central Bank has the ability to reinforce the value of the Iraqi Dinar.

"The bank now is capable of reinforcement the value of the Iraqi dinar with respect to other currencies."

-- May 13, 2005 4:36 PM ∞

Sara Madgid wrote:

Sources: Predator strike in Pakistan fells al-Yemeni
NBC News
Updated: 9:43 p.m. ET May 13, 2005

NBC News has confirmed that a CIA Predator drone has killed al-Qaida operative Haitham al-Yemeni in the remote northwest part of Pakistan where other members of the militant group are believed to be hiding. A U.S. official confirmed that al-Yemeni is a senior al-Qaida member.

"The debate was over whether to hit him individually or wait until he was part of a bigger group," NBC analyst Roger Cressey reported. There was no clarification if the actual strike was against just al-Yemeni or targeted a gathering of suspected militants.

Information leading to the hit is thought to be connected to the recent capture of Abu Faraj al-Libbi, described as al-Qaida's No. 3, in northwest Pakistan on May 2.

http://www.msnbc.msn.com/id/7847008

-- May 14, 2005 1:15 AM ∞

Gene wrote:

The Iraqi Central Bank... Six trillion dinars is the net mass of cash in Iraq.

This article is an article from april 2004

check article number 053
current articles are at :article469.htm

current estimate of dinars in circulation and 2005 projections are

6/30/04 7'003
12/31/04 9'000-11'000

3/31/05 9'700-11'800
6/30/05 10'400-12'700
9/30/05 11'100-13'600

http://www.imf.org/external/np/loi/...rq/01/index.htm

-- May 14, 2005 2:01 AM ∞

Gene wrote:

No news is bad news, ISX remains closed to foreigners, May 11

By now the Iraq Stock Exchange ISX, should have been bustling with activity of foreign investors buying and selling shares of small private public companies listed in Iraq's infant capital market. None of this has happened and according to circulating unconfirmed reports this is not likely to happen soon. The ISX which is one of the smallest bourses in the region with turnover of meagre couple million dollars which takes place in twice a week trade sessions, remains, as in the days of Saddam Hussain, off limits to foreign capital. The ban on foreign capital in the ISX remains in place because a government agency, The Iraqi Securities Commission, created by the now defunct Coalition Provisional Authority; to regulate the market has not sanctioned to date steps to open up. No one knows the position of the Commission because it simply has been silent on this subject despite the roar and confusion their silence has created.

Lobbyists advocating economic and financial reform have hoped that the Iraqi bourse, which is in dire need for cash liquidity, would be one of Iraq's first windows to attract much needed foreign capital to rebuild the devastated Iraqi economy. Lobbyists correctly argue that the entire legal and regulatory framework for opening up the exchange is already in place. All legislations allowing foreign capital to invest in Iraq and ensuring equal treatment to local capital have been long put in place. Order 39 on foreign investment regulating foreign investment in Iraq which was ratified by the Iraqi government was legislated in 2003. The company law has been revised to expedite foreign investment in public companies whose shares trade in the capital market. The legal system in Iraq safeguards property rights including ownership of shares, bonds and equities. The management of the Iraq Stock Exchange is said to have drawn up simple regulations to oversee and expedite foreign investors trading in the exchange. Rules and regulations to safeguard share ownership and expedite financial settlement of transactions through the banking sector have been devised.

In short, everything is ready to open up the exchange to non Iraqi investors. However, because the exchange is regulated entity, the opening up move cannot be carried out without the approval of its regulator, the Iraqi Securities Commission. The five member civil servants who make up the commission, one of whom was fired in a de-bathification purge, are not ready however. It said that the Commission last year blocked the move on the grounds that such a big step required the stamp of the government of Iraq. On February this year the government of Allawi ordered the Securities Commission to open up the burse to foreign investors. The Commission simply did not comply.

The stand of the newly elected government of Jaffary on this issue remains to be seen. According to some reports, the Commission is unlikely to take any move on the issue of foreign investment without first consulting with the new government. Given the priorities of government this process will take long time, probably long enough to stall the reform altogether.

http://www.isx-aman.com/news/rep_2005_05_11.htm

-- May 14, 2005 2:03 AM ∞

Millionaire2B wrote:

Dear RON,
just wanted to second Carl's post. I personally have also enjoyed listening to your always positive and encouraging "YELLING" :). It was nice "hearing" you coming as I scrolled through the posts, especially when others were bickering or negative. If you happen to "yell" again, I won't mind at all.

-- May 14, 2005 4:18 AM ∞

Ziarian wrote:

Iraqi dinar May be appreciate against other currencies in 15th of May 2005.wait and see!

" Tommorow Never Dies "

Bye

-- May 14, 2005 7:30 AM ∞

JB Smith wrote:

Nor was i being negative in pointing out his
faux pas;
being, by his own admission,
a newbie,
given, longstanding conventions of
Internet etiquette,
would you all do him the discourtesy of not informing him? Or having him be informed someplace else,
in a much less courteous manner?

It appears as they say,
No kindness ever
goes unpunished.
.

-- May 14, 2005 3:10 PM ∞

Jimmy P wrote:

Hi Gang,
Another newbie to the group, and as I enjoy and learn from others wisdom, I want to know if there is any recent data suggesting specific NID denominations to collect or stay away from?
Thanks from Minnesota

-- May 14, 2005 4:50 PM ∞

outlaw wrote:

Nuz,

If you indeed bought the "old" IQD then you might as well wall paper your bathroom with them because that's what thier worth...nothing! I'm in Iraq now...want some more??? hehe

Also... if Kevin could tell you when and what the IQD will open at then he's smarter than anyone on this site and I want to talk to him myself.

-- May 14, 2005 7:21 PM ∞

Sara Madgid wrote:

May 15, 2005
Bin Laden henchman Zarqawi �seriously wounded�
Hala Jaber and Ali Rifat, Baghdad

IRAQ�S most wanted terrorist, Abu Musab al-Zarqawi, has been seriously wounded, according to a doctor who claims to have treated him last week.

The doctor told an Iraqi reporter in the western city of Ramadi that Zarqawi was bleeding heavily when he was brought into hospital on Wednesday. After treating his wounds the doctor tried to persuade him to remain, but the Jordanian-born terrorist�s minders drove him away.

http://www.timesonline.co.uk/article/0%2C%2C2089-1613016%2C00.html

-- May 14, 2005 8:02 PM ∞

Sara Madgid wrote:

Gene;

You know that url and article you posted?
No news is bad news, ISX remains closed to foreigners, May 11
http://www.isx-aman.com/news/rep_2005_05_11.htm

Gene, you forgot the Disclaimer, which is important, as it could have been based on quite biased sources in that assessment, such as those in the know trying to corner the market, for instance. It reads:

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

-- May 15, 2005 12:09 AM ∞

Brandon Keeton wrote:

Sara,
First of all thanks for recommending the book "Rich Dad, Poor Dad". I started on it today after reading "Smart Couples Finish Rich" and I'm almost done with it already. I can't put it down!
Anyway, to everyone else, since I am a novice who is slowly but surely educating himself on the whole investment thing and since I have been reading this book, I have a parallel to draw and I would like to know if I'm correct or incorrect in my analysis if the Iraqi Dinar.
The way I see it, the Iraqi Dinar is sort of like investing in a Small Cap stock (Penny Stock I think it's called). Small cap stocks are (at least from what I've read) relatively risky as they are companies that haven't gone public yet and the buying of their stock enables them to be publicly traded on the stock market. A few that I've seen are between 14.5 to 75 cents a share. The hope is that once they hit the big market, the stock price will rise.
But if the company is under bad management and a miriad of other things that can go wrong, the price will tumble and you will lose your investment.
I think that the same thing could be said for the Dinar and Iraq as a whole. There are a whole lot of things that can go wrong but if things are managed right, we could see a huge windfall.
If I'm off on my analogy please let me know.

-- May 15, 2005 1:46 AM ∞

Brandon Keeton wrote:

JB Smith, I didn't even read your post on the 8th. You already made that analogy. Didn't mean to steal your thunder. But I guess great minds think alike.

-- May 15, 2005 1:48 AM ∞

okie wrote:

My theory on why the ISX is not open to the "outside" world is that the "inside" world (the Iraqi high rollers) want to buy as much as they can at the current rate.....knowing full well that when it does open it will be at ever increasing rates and make them a ton of money. this of course will be good for the Dinar value.

-- May 15, 2005 4:49 AM ∞

Sara Madgid wrote:

Brandon;

That is an interesting analogy, penny stocks. Certainly the Iraqi Dinar has penny stock potential on the upside, but there are significant differences between Iraqi Dinar and a penny stock, of course.

One significant difference between a penny stock and Iraq is that Iraq is a COUNTRY not a company, and has the resources of a country behind it.

For instance, in the news recently, it was noted that Iraq has a lot of oil resources, perhaps the most oil resources in the WORLD. That means it has intrinsic value, based on production, which is often not true of penny stocks, particularly tech stocks.

Article on that was:
This May 13, 2005 article:

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May86.xml�ion=focusoniraq&col

It says:

According to Benito Livigni, a former manager of ENI and the United States� Gulf Oil Company, Iraqi�s oil reserves are estimated at 400 billion barrels, far more than the known figure of 116 billion.

If true, this would make Iraq the largest oil producer in the world, ahead of Saudi Arabia, the report says.
-----

Note the words LARGEST OIL PRODUCER IN THE WORLD. When you buy a penny stock, you do not usually have that many billions of potential oil production behind it.

This is only one factor, of course, there are others, but it was in the news and I felt it interesting as it has bearing on the Dinar's intrinsic worth.

Glad you like the book, it is a very useful tool in learning.

Sara.

-- May 15, 2005 10:31 AM ∞

Sara Madgid wrote:

JB Smith;

By your speaking about CapsLock, it was a service to the board that there is now less yelling going on. :) I don't think you meant any discourtesy to RON personally and it would have been useless to try and instruct off board, as he hadn't the ability to reply to email. RON's communication is clearer and non-offensive, and you were instrumental in that, appreciate it.

Sara.

-- May 15, 2005 11:43 AM ∞

JB Smith wrote:

Excuse me for shouting,
BUT WE DON'T HAVE A LAW AGAINST THAT

Coming soon to Iraqi neighborhood,
any excuse for a party:

http://www.cnn.com/2005/WORLD/asiap....protests.reut/
President Hamid Karzai, a staunch U.S. ally, has urged the United States to punish anyone found guilty of desecrating the Quran.

--> Guilty of?
What are we supposed to do about it?
Maybe a serviceman can enlighten me,
is there a military law
against this sort of thing in general?

Even so
i doubt anything we can will be sufficient,
we're not putting the perpetrator(s) to death,
i hope,
not that doing so would be sufficient
to quell the rage of insane zealots...
sorry not pc,
i don't know what else to call them.

It's stuff like this that discourages me.
How will we ever have peace
if people will launch Holy War
over a small cultural faux pas,
picking your nose at the dinner table causes
an Internation Incident.

How do we explain,
that we don't have a law against this?
I mean they probably find it just as incomprehensible
that there is no law,
as we find it incomprehensible that there should be one...

And Condy goes along, quote:
�Disrespect for the holy Koran is not now, nor has it ever been, nor will it ever be, tolerated by the United States,� she said. �We honor the sacred books of all the world�s great religions. Disrespect for the holy Koran is abhorrent to us all.�

?
We do not "tolerate"?
The only thing i cant tolerate
is intolerance.

.
Brandon i don't remember thundering
?
We both said "penny stocks?"
Anyway at this point in your reading, you may have come across the concept of using
"Other People's Money"
and i would refer you to ^Seabees Business System,
as a method of minimizing the risk to your personal savings,
turn your Dinar to Dollar
and put your Dollar in ISX
where it might do some good for someone.

I'm thinking maybe people
who make a decent living
will be slightly more rational.
.

-- May 15, 2005 1:06 PM ∞

outlaw wrote:

Hi Gang.

I am currently employed by KBR in Iraq and am a big IQD investor. I have several friends who I feel are somewhat connected to the new Governing Councel. I am being told to expect the IQD to hit the ForEx very soon... at somewhere between 7 to 10 IQD per 1 USD, then rise to some around 2.5 IQD to 1 USD within 6 months of opening.

Again, all of this is unverifiable but I like everone else reading this...hope that my friend is correct.

Outlaw in Iraq.

-- May 15, 2005 1:08 PM ∞

outlaw wrote:

Oh Gang....

I also asked my friends about the "ISX" and was told to steer clear based on the fact that the average iraqi has elementary education at the best and has little or no experience being a CEO of a company...let alone being a CEO of a company on the ISX! Buyer Beware!!!

Outlaw in Iraq

-- May 15, 2005 1:27 PM ∞

Sara Madgid wrote:

Sunday, May 15, 2005
Ivanhoe Energy to study oil well in northern Iraq

(MENAFN) Ivanhoe Energy has received the required data from the Iraq Ministry of Oil to perform its previously announced study of the shallow Qaiyarah Oil Field in northern Iraq, Portal Iraq reported. The Company is evaluating the potential response of the Qaiyarah Oil Field to the latest in enhanced oil recovery techniques, along with the potential value that could be added using the RTP(TM) Technology. If the evaluation indicates economic viability, Ivanhoe Energy will present a technical and commercial development plan for Qaiyarah. The Ministry of Oil is under no obligation to enter into commercial negotiations at the completion of Ivanhoe Energy's study. The study is expected to be completed within the next few months.

http://www.tbiraq.com/menafn_news_bl.asp?inc_name=news_details&n_id=91716#

-- May 15, 2005 1:32 PM ∞

JB Smith wrote:

outlaw wrote:
>> ...steer clear based on the fact that the average iraqi has elementary education at the best and has little or no experience being a CEO of a company...

Well i wasn't really thinking of investing in the
"average Iraqi"
any more than i would invest in the
"average American"

Those with the initiative
to run their own business,
are by definition extraordinary.

A wise investor might look for those,
of those,
who are better than the average
of those.

Note ISX is already trading,
just not for foreigners,
so we have the opportunity to observe and evaluate
without risk.
Therefore we can get some advance ideas of who might be something
more than average
.

Frankly it would be nice if i got rich just because
the Dinar pegged high,
but the more i read the more i doubt that will happen,
and as i've been saying for some time,
in any case it's probably healthier for our investments if our Dinar are doing something
productive.
--> In Iraq

Don't y'all get just a wee bit suspicious
when you see so many people telling you how to get rich,
without you have to do anything except fork over some money?

Oh-oh
i said something
"negative"
.

-- May 15, 2005 3:10 PM ∞

Sara Madgid wrote:

JB Smith;

As for your post about the alleged attack on the Koran, the problem is that there are those who hate the US and will snatch at anything to help stir up unrest. In actuality, NEWSWEEK has reported (below) that those were ALLEGATIONS of abuse of the Koran, they were not found to have credible evidence behind them. However, to the 15 or so people who have been killed as a result of this misreporting on the behalf of the media, it would not matter much. How sad that many Muslims are so quick to believe evil of others who do not share their Muslim faith. Such intolerance can make them pawns of others, just as President Hamid Karzai of Afghanistan said: "foreign hands were behind the disturbances" (below). When someone is already prejudiced against a people group (in this case Americans) and suspicious of them, false allegations are easily taken to extremes. I am sure if the roles were reversed and the suspicion and prejudice was against Muslims that they would expect more rational investigation first, and not wish people jumping to their own conclusions.
Sara.

How a Fire Broke Out
By Evan Thomas
Newsweek

May 23 issue - ...

By the end of the week, the rioting had spread from Afghanistan throughout much of the Muslim world, from Gaza to Indonesia. Mobs shouting "Protect our Holy Book!" burned down government buildings and ransacked the offices of relief organizations in several Afghan provinces. The violence cost at least 15 lives, injured scores of people and sent a shudder through Washington, where officials worried about the stability of moderate regimes in the region.

Late last week Pentagon spokesman Lawrence DiRita told NEWSWEEK that its original story was wrong. The brief PERISCOPE item ("SouthCom Showdown") had reported on the expected results of an upcoming U.S. Southern Command investigation into the abuse of prisoners at Gitmo. According to NEWSWEEK, SouthCom investigators found that Gitmo interrogators had flushed a Qur'an down a toilet in an attempt to rattle detainees. While various released detainees have made allegations about Qur'an desecration, the Pentagon has, according to DiRita, found no credible evidence to support them.

How did NEWSWEEK get its facts wrong? And how did the story feed into serious international unrest?

http://www.msnbc.msn.com/id/7857407/site/newsweek/

Clerics threaten holy war over alleged Quran desecrations
Sunday, May 15, 2005 Posted: 7:33 AM EDT (1133 GMT)

FAIZABAD, Afghanistan (Reuters) -- A group of Afghan Muslim clerics have threatened to call for a holy war against the United States in three days unless it hands over military interrogators reported to have desecrated the Quran.

The United States has tried to calm global Muslim outrage over the incident, saying disrespect for the Quran was abhorrent and would not be tolerated, and military authorities were investigating the allegation.

President Hamid Karzai, a staunch U.S. ally, has urged the United States to punish anyone found guilty of desecrating the Quran. He said foreign hands were behind the disturbances, but did not identify them.

The anti-U.S. protesters have also criticized Karzai and his U.S.-backed government, attacking and torching provincial offices and police stations as well as U.N. and aid agency compounds.

http://www.cnn.com/2005/WORLD/asiapcf/05/15/afghan.protests.reut/index.html

-- May 15, 2005 3:49 PM ∞

Sara Madgid wrote:

Those who would be interested in laying false charges against the US and playing on prejudices against the US include many.

Iraq blames Arab militants for two weeks of carnage
(AFP)
15 May 2005

BAGHDAD - The Iraqi government blamed foreign Arab militants on Sunday for igniting a startling upsurge in rebel violence that has claimed more than 400 lives within the space of two weeks.

Leith Kubba, spokesman for new Prime Minister Ibrahim al-Jaafari, described the attacks as a �virus from abroad� perpetrated by militants brought up in Islamist areas in Jordan and Saudi Arabia.

�Everyone knows that there are neighbourhoods in Jordan and Saudi Arabia characterised by aggressive and extremist thought which are producing individuals who think they can enter paradise by attacking the first police station in Iraq,� he commented.

Kubba suggested that the current wave of indiscriminate bombings proved that the rebels had �no political plan and no long-term strategy� and were fighting a rear-guard action.

�The number of those who sympathise with them has decreased� because of the indiscriminate bombings, he said.

The government spokesman�s comments are not the first time a top Iraqi official has explicity blamed foreign elements for the litany of violence currently haunting Iraq.

Syrian intelligence has been blamed for being behind recent attacks in the north of the country, charges vehemently denied by Damascus.

Evidence that a Jordanian was behind the February 28 suicide attack in Hilla south of Baghdad that killed 118 people prompted a diplomatic crisis between Amman and Iraq as well as furious Shiite protests.

Iraq�s most wanted man � Al Qaeda frontman Abu Musab al-Zarqawi -- is himself a Jordanian national who faces a death penalty handed down in absentia in his homeland.

Five suspects, four of them Palestinian, detained after a deadly Baghdad bombing last week were paraded on Iraqi state television overnight, �confessing� to their role in the attack which killed 15 people and wounded 84.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May107.xml§ion=focusoniraq

-- May 15, 2005 5:14 PM ∞

outlaw wrote:

JB...

I think you need to re-evaluate your thinking when it comes to dealing with this part of the Middle East. You make it sound like this region of the world is just like most western countries found anywhere else around the world. I am here...I can see first hand what Saddam has done to this country and the poor people who live here. These people are un-educated not because of choice...they are this way because "un-educated people can be controlled" and exploited.

In my opinion a great deal of the companys that might and have appeared on the ISX "could" be a result of "Ali Babba" being in the right place at the right time. What I mean by this is a massive influx of reconstruction dollars are flooding into Iraq right now, with a very limited "skilled" work force. Hense it would be very easy for someone to approach the Coalation Forces claiming to be able to perform requested projects without anyone being concerned enough to verify what they are saying. Right now in Iraq I belive moneys are being mis-used and stolen in vast amounts and it will be years before the truth comes to light. If anyone will ever admit to it at all.

One must remember that this country has been "retarded" by saddam and the bath party since the 1950's. 12 years of sanctions prior to the invasion also restricted any further advancement. Please understand that this country is still at war and it is still unclear of exactly who is going to control this country in the future. Would you invest in the Iran Stock Exchange??? Remember you are talking about a Stock Exchange that stocks are still to this day being traded in open air markets...not on Wall Street.

Invest in the ISX?... As I said before... "Buyers Beware!"

Outlaw in Iraq.

-- May 15, 2005 8:31 PM ∞

Gene wrote:

corruption in Iraq? nah....

Combating corruption

By: Muhammed Abdul Jabbar

Despite that public polls say that maintaining security is the key task for Ja'ferri's government, rebuilding state and authority and achieving reconstruction drive on right bases require combating corruption that causes many waste in money allocated and lead to abortion to construction drive.Let us talk on the story from the beginning; Iraq is suffering of high percent corruption and part of it was inherited from the past regime as huge part was clear currently.It is clear in many images, like presenting routine applications in official departments which need bribes to achieve them.Some of civil service posts are offered for sale likewise contracts dealt by state companies. During the governing Council era many government posts were offered according to family relatives, groups or party links rather than quality and other conditions.An Arab businessman described status quo in Iraq commenting that every thing in Iraq is impossible, yet it is possible since you can pay.So, reconstruction and political build up can not be achieved as long as corruption controls the country. It is necessary to build up the country to combat corruption which is as dangerous as terrorism.The government is the key role of facing up corruption following making sure that it has not infiltrated in its departments as Abdul Kareem al-Inizi stressed that it is one of the government's conditions is its capability.One of its conditions is its capability of confronting corruption by enforcing the Integrity Commission's role and keeping it aside off government's control so as to maintain its independence.

http://www.alsabaah.com/iframe.php?file=http://www.alsabaah.com/English.html

-- May 15, 2005 9:00 PM ∞

JB Smith wrote:

Quite so, Sara,

I should have said "alleged" perpetrators,
as i was aware of the possible Newsweek retraction,
or backpeddling,
as it were,

and out of respect for my Muslim brethren,
i will refrain from experimenting,
but i think it would be terribly difficult to
flush a book down a toilet.

But you are also correct, that those who would
ask us for respect,
have no respect for us.
And they will disrespect my most holy document,
the Constitution of the United States.
Which says among other things that i have a freedom
of worship,
And those who are complaining about infringements on their sovereignty,
would if they had their way impose on me the sovereignty
of Islam.

Shall i burn an Afghan flag in protest?
.

-- May 15, 2005 11:06 PM ∞

Sara Madgid wrote:

U.S. fears Iraq's cash economy offers easy funds for insurgents
Hawala's handle millions of unaccounted dollars every day
By Agence France Presse (AFP)
Saturday, May 14, 2005

BAGHDAD: In Iraq, unregulated money transfers known as heal are at the heart of the country's largely cash economy, but U.S. officials fear they also help fund the insurgency.

The unofficial banking system is common to much of the Middle East where it helps smooth business dealings and sidesteps red tape. But U.S. officials want it regulated in Iraq to help choke off funds from abroad that might be helping to finance rebel operations, according to a U.S. Treasury official in Baghdad who declined to be named.

"Insurgency financing in a cash economy like this is very easy. I want to detect and deter them," the official told AFP. "Any place else in the world with modern banking would have tools to combat money laundering and other money used by the insurgency here," he added.

U.S. and Iraqi troops often find car trunks full of greenbacks during routine traffic stops. "People carrying large amounts of money around will have to register in the future," the U.S. official said. "We want to develop a list of names and find out who they deal with to ferret out the networks."

A senior U.S. diplomat acknowledged that the funding issue had been neglected in the U.S.-led crackdown on the insurgency and said future efforts would increasingly focus on cutting the rebels' seemingly limitless cash supply.

Kazzaz himself admitted that the hawala system is likely being used by some of Iraq's neighbors to provide financial backing for the insurgency.

"Huge amounts of money are being transferred to Iraq from Syria and Iran," Kazzaz said. "The ruling regimes in those two countries are afraid that a stable Iraq might threaten their survival."

Introducing new financial rules to Iraq's economy will also make it easier for international banks to operate here.

So far, HSBC and Standard Chartered banks and the National Bank of Kuwait have received licenses to operate in Iraq. - AFP

Full article at:

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=15076

-- May 16, 2005 12:09 AM ∞

Sara Madgid wrote:

Quran in toilet? Never mind
Newsweek admits it got bloody story wrong
Posted: May 15, 2005
9:50 p.m. Eastern

Fifteen dead, scores injured, relief buildings burned down.

Years of coalition building with the Muslim world against terrorist fanatics set back.

That's the toll to date for a brief story about a U.S. prison guard throwing a Quran down the toilet � a story Newsweek now admits it got wrong.

Pentagon officials are scrambling to figure out how to put the genie back in the bottle, but it seems it might take more than a correction and an apology from Newsweek.

"We regret that we got any part of the story wrong, and extend our sympathies to victims of the violence and to the U.S. soldiers caught in the midst," said Newsweek Editor Mark Whitaker in a note to readers.

"It's outrageous, I think it's accessory to murder," said Fox News military analyst Col. David Hunt, who called the reporting "criminal" and Newsweek's apology "half-assed."

"It's treasonous at worst," Hunt said. "How about not hurting the war? How about causing no harm? I think Newsweek should lose every reader it ever had."

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=44284

-- May 16, 2005 12:33 AM ∞

Sara Madgid wrote:

JB;

It looks like the detainees (who certainly are not impartial) were the source for the Koran story (below). They had filed lawsuits alleging this. Due process of law should dictate that it be seen through the courts, not riots in the streets on mere allegations from one side of a courtroom. I must agree with you that flushing an entire book down a toilet would be a difficult task for anyone to do. It also would be messy to clean up when it stopped the toilet up, which might give a person pause for thought before attempting.

Newsweek backs off Quran desecration story
Monday, May 16, 2005 Posted: 1:01 AM EDT (0501 GMT)

WASHINGTON (CNN) -- Newsweek magazine backed away Sunday from a report that U.S. interrogators desecrated copies of the Quran while questioning prisoners at the Guantanamo Bay naval base -- an account blamed for sparking violent riots in Afghanistan and elsewhere.

At a Pentagon press conference Thursday, Gen. Richard Myers, chairman of the Joint Chiefs of Staff, cited U.S. commanders as saying the protests in Jalalabad, at least, were more about local politics than anti-American sentiment stirred by the Newsweek report.

Myers said at the Pentagon briefing Thursday the military was looking into the allegations.

He said investigators had so far been unable to confirm a "toilet incident, except for one case, a log entry, which they still have to confirm, where a detainee was reported by a guard to be ripping pages out of a Quran and putting [them] in the toilet to stop it up as a protest. But not where the U.S. did it."

Newsweek said Michael Isikoff reported the item with John Barry. Newsweek said Isikoff has uncovered more allegations of Quran desecration.

One, from an attorney representing some of the detainees, provided some declassified notes indicating 23 detainees had tried to commit suicide in August 2003 when a guard dropped a Quran and stomped on it.

U.S. military officials said such claims are standard terrorist tactics.

"If you read the al Qaeda training manual, they are trained to make allegations against the infidels," Army Col. Brad Blackner told Newsweek.

http://www.cnn.com/2005/WORLD/asiapcf/05/15/newsweek.quran/index.html

-- May 16, 2005 2:59 AM ∞

RON wrote:

Hi all
Just a few lines to let all know that the posts,have been great.Keep up the good work.Ron

-- May 16, 2005 11:31 AM ∞

Mike wrote:

I copied this from the AboutDinar.com forum today:

can anyone decipher this?

The 446th daily currency auction was held in the Central Bank of Iraq on Monday.16/5/2005, given the unjustified increase in the demand and the absence of true reasons for this increase, the CBI believes that there is some speculative operations taking place and that this increase is not to satisfy the real demand of the market, it has been decided to provide banks with 50% of their demand confirming to them the necessity to determine the purpose of purchase, as it is stated in the instructions of form of purchase, the CBI will stop accepting the ineligible forms starting from 17 / 5 / 2005,

is this good news for us?

-- May 16, 2005 11:43 AM ∞

Mike wrote:

In response to OUtlaw's post on the 15th, will we know ahead of time when the NID will hit the world market -- in enough time to make a purchase, which i haven't done yet?

-- May 16, 2005 12:00 PM ∞

Sara Madgid wrote:

Mike;

When it says:

"...the CBI believes that there is some speculative operations taking place and that this increase is not to satisfy the real demand of the market.... the CBI will stop accepting the ineligible forms starting from 17 / 5 / 2005"

This is saying that SPECULATIVE INVESTORS in the Iraqi Dinar will no longer be allowed as of tomorrow. That means the end of Ebay and other speculative sellers. ONLY those who can prove they are buying the money for legitimate purposes(IE NOT FOR SPECULATION but to help develop the Iraqi economy) will be allowed to buy Dinar, as of tomorrow.

If you don't buy today, you miss the Dinar train, is my take on it.

Mike, WHERE did you find these words you posted? At what site?

Sara.

-- May 16, 2005 1:08 PM ∞

JB Smith wrote:

Well Mike, what are they saying on this other forum?
Or are they indecipherable too?
I'm not an economist,
i can barely balance my own checkbook.
But it would appear to be saying, a bit too obviously, that the CBI is just now noticing
Dinar speculation?
(CBI bats it's eyes demurely, and says "shucks")

And so they are employing bureaucratic means
to stem the artificial demand?
As they are charged with maintaining Dinar stability
and speculation is destabilizing?

?

My attempt at deciphering,
and if i am correct,
then the BS part is that they are just now noticing,
and the good part, i'm sure someone will correct me if i'm wrong,
the good part is they're actually doing something about it?
I mean good, for those of us who /have/ our Dinar,
notso good for those not on the train,
if it makes them harder to get,
because they're not on eBay
because someone couldn't provide a good excuse
why they needed so much Dinar,
when they can't say they need to give them to that
American plumbing contractor over there?

?

Why you makin me guess?
.

-- May 16, 2005 1:17 PM ∞

Sara Madgid wrote:

Mike;

I did indeed find this article you quoted to be posted on the Central Bank of Iraq's website at:

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

Sara.

-- May 16, 2005 1:17 PM ∞

JB Smith wrote:

Oh.

Sorry Sara didn't mean to step on your toes
i got called away
in the middle of my guessing
while you were deciphering.

It's a pleasure to see
you come to the same conclusion.

.

-- May 16, 2005 1:19 PM ∞

outlaw wrote:

Mike,

All I can tell you is to buy like it's going to open tomorrow...if it dosen't...no problem...all that did was give me more time to buy more. I am being told that no one will know when it's going to happen...you will just get up one morning and find out you are rich! hehe Atleast we all hope so!

Outlaw in Iraq.

-- May 16, 2005 1:22 PM ∞

Sara Madgid wrote:

JB Smith;

If I were to hazard a guess, my thought is that the article I quoted yesterday has a lot to do with this removing of "speculators". The article I am referring to is the one about choking off the insurgency money over there. I think they are trying to stop funding those who are killing them. Seems a wise idea to me. The article you need to look at, above, is called:

U.S. fears Iraq's cash economy offers easy funds for insurgents.

I posted it May 16, 2005 12:09 AM.

If they have to stop Dinar speculators over here from having Dinars, in order to stop the insurgency over there from using the easily obtained cash to fund the insurgency and kill the Iraqi people, that is ok by me.

Sara.

-- May 16, 2005 1:27 PM ∞

Sporter wrote:

Inexplicable price fluctuation, May 16

'When the price of a liquid stock of a publicly traded company leaps in one jump by as much as 63% there is must be a major development in the business of the company' argued a veteran broker in the Iraq Stock Exchange. But the surge in the price of the shares of the Commercial Bank of Iraq from ID13 to ID 20 last Monday May 11, is not explained by any public announcements from the bank that could explain the rise. No statement of any fundamental change in the position of the company such as a potential partnership with a foreign bank has been made. The rules of the Iraq Stock Exchange provide that all listed companies are required by law to make public announcements of any major event that may effect the position of their companies. Enforcement of this and other new disclosure rules such as the quarterly publication of company financials are a way long from being applied in practise. The heritage of disclosure is simply not so well developed or commonly accepted here.

Meantime, the same shares, of the Commercial Bank of Iraq, plummeted 19% in today's trade, May 16. The stock of the bank with 10 billion outstanding shares opened at ID 20 but soon retreated to close at ID 17. There were 80 contracts struck involving the exchange of 32 million shares. The Commercial Bank of Iraq, established in 1992, is believed to have a very strong financial position. During its life span it has showed healthy financial year in and out. The bank is thought to be owned by some 3000 shareholders the biggest of whom are the Kubba and Buniya families. It has had the same CEO, Mr. Sadoun Kubba who is a well known banker, since its inception 13 years ago. Mr. Kubba has a long track record with the state bank of Rafidain before he joined the private Commercial Bank.

The Middle East Bank, with a paid up capital of ID 15 billion, made significant gains today. In heavy trade the shares of the bank gained 5.42% closing at ID8.75. The rise is explained by recent publication of first quarter financial results of the bank. The bank reports phenomenal growth of profits, assets, deposits and in its overall financial position. Profits during the first quarter of 2005 is said to be equal to what was achieved during the whole 12 months of 2004. The financial position of the bank grew by 31%. Established in the mid 1990s the bank, controlled by the Al-Hafidh family, has consistently performed very well. This particular bank is one of the few listed companies in the exchange to comply with the exchange regulations regarding disclosure.

In other trade in banking stock, Dar-Al-Salam bank gained 6% to close at ID 41. Dar-Salam bank is one of the smallest banks listed in the ISX with a paid up capital of ID 2.4 billion. The bank is controlled by Assad Al-khudhairy , a well known businessman and contractor. The bank has interests in two public companies, Dar-Salam Insurance, 19%, and Al-Nukhba Contractors, 16%. Mr. Al-khudhairy is believed to have large stakes in these companies as well.

The biggest gain today was achieved by the Gulf Bank whose shares today surged by a hefty 23% to close at ID 11.75. The bank is substantially controlled by the Bahraini family whose interests span many sectors besides banking including diary production and construction business as well as hotels. This particular stock is generally not so liquid with the number of shares traded being minimal compared to other banks.

Hotel companies have been on the retreat for the fifth session in a row. The multi-storey Palestine Hotel (Meridian) with several hundred guest rooms which was built by government funds in the early 1980s and privatized in the late 1990s closed today at ID 70. The stock was steady around ID90 until two weeks ago. Its sister Ishtar Hotel (Sheraton) closed today at ID 67 down from a steady ID 90 several weeks back. There is no apparent reason for the fall in both prices. Both hotels, though in need of major refurbishment, yet have high real estate value. At ID 70 and with 900 million shares outstanding, the Palestine hotel is valued at about $43 million, well below its true commercial value. The land of the hotel right in the heart of Baghdad is certainly worth this much alone. The same applies to the Ishtar Hotel. One reason perhaps for this low valuation is that foreign investors who may be interested to snatch a share in these hotels are to date barred from trade in the ISX. Another reason is perhaps the fact that the state still maintains a controlling share of some 20% in these hotels. Any chance of refurbishing these and other hotels, and turning them into profit making businesses, will certainly depend on opening up the exchange to foreign investors. This has not happened yet and there is uncertainty as to when it will happen.

Manufacturing stock continues its trail of bad fortunes loosing 5% to 10% in trade today. But at around ID 6 there was relatively high volume of trade in the stock of Pepsi Baghdad with some 43 million shares exchanging hands. Punters who intimately know the market say this is a sign of a coming upturn.

Trade volume was about ID 4.4 billion the equivalent of approximately $ 3million which has become the new volume average in each of the two and half hour, twice a week, trade sessions. Though tiny by standards of neighbouring bourses, the volume is still very promising given the prevailing overall poor political and security situation in the country and given that foreign investors are still barred from trade. Average trade volume before 2003 was a meagre ID 100 million, or roughly $50 thousand, a minute fraction of current trade figures. If anything current trade figures certainly show that investors and Iraqi businessmen have high hopes for the near future.

http://isx-aman.com/news/rep_2005_05_16.htm

-- May 16, 2005 2:20 PM ∞

Sara Madgid wrote:

Sporter;

Well done! Good post. :)

Remember that May 13th article:

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May86.xml�ion=focusoniraq&col

It says:

According to Benito Livigni, a former manager of ENI and the United States� Gulf Oil Company, Iraqi�s oil reserves are estimated at 400 billion barrels, far more than the known figure of 116 billion.

----

Certainly, the fact that there is 400 Billion and not 116 Billion in oil beneath Iraq could have something to do with such a sudden 63% upsurge in the Dinar?

And maybe the end will be good for the Iraqi people, since it will choke back insurgency funding, even though it is driven by monetary and business concerns.

Sara.

-- May 16, 2005 3:10 PM ∞

Sara Madgid wrote:

Sporter;

I will try and clarify my last two remarks.

What I was trying to say was that your post about the increase in the Banking stocks was interesting. I was wondering if the fact that there is 400 Billion and not 116 Billion barrels of oil beneath Iraq could have something to do with such a sudden 63% upsurge in the Commercial Bank of Iraq (and 23% for the Gulf Bank)? Since no other KNOWN news would seem to have been responsible for such an uptick.

As for the Dinar itself, choking back insurgency funding, even if it is driven by monetary and business concerns (such as cutting off Dinar currency speculation) should be good for the Iraqi people and their safety, hopefully.

They really were not related thoughts, the one on the banking stocks and the Central Bank of Iraq's Dinar one, so I am sorry if it was confusing. I will try and be more precise in future.

Sara.

-- May 16, 2005 7:04 PM ∞

outlaw wrote:

Sarah,

I think I may be able to answer your question. Either on 4/17/05 or 4/24/05 the CBI opened the IQD market to International Banks. As far as I know only Middle East Banks were buying the IQD. With a little research this fact can be verified.

As far as doing what they did yesterday is any ones guess, but as it was pointed out to me..."If they were going to change the currency to screw the speculators"...they would still be taking our money...wouldn't they??? I look at this as a great thing!

Outlaw in Iraq.

-- May 16, 2005 7:36 PM ∞

outlaw wrote:

Oh, also... I am not quite sure who or where the IQD and the insurgency tie came from...but I got something totally different from the AFP story. Simply said... what's happing here in Iraq is that money can be issued from a bank with little or no records to track the sender. Has nothing to do with the Dinar and the CBI. Remember the Dinar is about the worthless currency on the face of the earth now...who would want to use it to buy arms with???

Outlaw in Iraq.

-- May 16, 2005 8:27 PM ∞

Sara Madgid wrote:

Outlaw;

I have appreciated your posts, thanks, :) and I agree with you that this is a GOOD thing for those in the Dinar.

I don't think they are reissuing the Dinar, or changing it. They have enough to worry about trying to get the Dinar accepted on the world scene and getting to the international trade table without worrying about whether it has a little bit of Kurdish signature on it or not.

If they issue a new bill they may alter THAT, but I don't believe it is in their best interests to make the current Dinar obsolete. The backlash from foreign investors who would feel betrayed, investors they might otherwise attract to invest in Iraq, would be enormous. I think they are trying to move things ahead.

Sara.

-- May 16, 2005 8:27 PM ∞

Sara Madgid wrote:

Outlaw;

Are we talking the same article?
The one I referred to is completely about cash money funding the insurgency:

U.S. fears Iraq's cash economy offers easy funds for insurgents

Full article at:

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=15076

You said: "Remember the Dinar is about the worthless currency on the face of the earth now...who would want to use it to buy arms with???"

It isn't to buy arms, necessarily, but to pay people, insurgents, inside Iraq. They have to buy groceries and pay the rent like you do and those are not paid for in US dollars. Insurgents are being paid in Dinar to keep the insurgency going. It is their livelihood. In the country of Iraq, you use Dinar to buy and sell with, not US dollars. And if the insurgents didn't get their money for killing people (they are, after all, paid assassins), they would have to get other employment to pay for their necessities.

If you walked into a bank with 50 thousand greenbacks in the US, they would ask you where you got it from. They would want to know if you were a drug dealer or something. They would not just cash it over into another currency. As you said, "what's happing here in Iraq is that money can be issued from a bank with little or no records". That means no one is tracing it, and the insurgents can transfer money into Iraqi Dinars and use the money to buy a local Iraqi vehicle to put suicide bombs in, for instance.

Sara.

-- May 16, 2005 8:48 PM ∞

Gene wrote:

In Iraq the USD is in demand -Iraq is a dual currency country USD is preferred over NID

Friday(5.13) the USD rallied to a record high against the Euro

CBI was closed Sat and sunday

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

Monday Iraq banks attempted to 'trade' apprx 100 Billion NID for USD
CBI intervened and only approved 1/2 that amount
for USD from Iraq banks

-- May 16, 2005 11:59 PM ∞

jason wrote:

This IQD is goin nowhere over two cents. If we are lucky. Too much money printed, inflation, in circulation..what have you. Its just not gonna happen. That place will never straighten itself out.

-- May 17, 2005 1:13 AM ∞

JB Smith wrote:

Thanks Jason,

Your enthusiasm is
infectious,
and your optimism is
appreciated.

Since you know with certainty,
what others can only guess,
May i ask the source of these facts, and when, exactly,
can i expect my 2 cents?

that's like,
how many percent profit?
i suck at math, but
i know it makes a lot of dollars
for me.
.

-- May 17, 2005 10:56 AM ∞

byrd wrote:

Seems like limiting dinar sales to speculators is a good step to plateau runaway saturation. Sometimes its the small puzzle pieces that make the picture whole.

-- May 17, 2005 11:25 AM ∞

hank wrote:

byrd, i am thinking on the same lines as you on this stopping the supply on the NID or making it harder to attain. It's a basic economics tool supply and demand. If the supply goes down then demand goes up, which makes the NID price go up.

-- May 17, 2005 4:45 PM ∞

Sporter wrote:

NEW YORK (CNN) - HSBC Holdings, Plc, the London based bank and the world's fifth largest company, said it is in advanced negotiations to acquire a majority stake in Dar es Salaam, the Iraqi investment bank.

HSBC would not provide financial terms of the deal, but Richard Lindsey, a spokesman for HSBC, said it has been pursuing Dar es Salaam since last summer, when HSBC obtained its license to operate in Iraq.

The Iraqi Central Bank has given verbal approval to the deal, which a source familiar with the matter expects to close in July once other regulatory approvals are given.

The deal would give HSBC a 75 percent controlling stake in the privately held bank, which, according to its Web site, has $15,140,506 on deposit.

While it is called an investment bank, Dar es Salaam is also a commercial and retail lender, according to its Web site. Foreign-based banks had been banned from operating in Iraq for thirty-five years under Saddam Hussein's rule.

While HSBC has been operating in the Middle East since 1889, the investment in Dar es Salaam would be the bank's first investment in Iraq.

http://money.cnn.com/2005/05/17/news/international/hsbc_iraq/index.htm

P.S. Jason they will have a special line for you only, Please redeem your dinar for 2 cents here!

-- May 17, 2005 5:07 PM ∞

juikster wrote:

As far as supply of IQD their is still alot on ebay that has to be unloaded ,but I see very few takers. Is this a sign that speculation has reached an end? (concerned IQD holder)

-- May 17, 2005 9:26 PM ∞

Brandon Keeton wrote:

Hey all!
It's been a few days since I've posted and there are some good posts here. I do have a comment for Jason and I'm not really trying to be a smart ass or anything. I'm just going to point him in a new direction and try to be constructive.
I understand if you don't think that the Iraqi currency is anywhere, there are a lot of people who think that way as well. But if you're sincerely looking to make money on currency, another one you might take a look at is the Chinese Yuan. It's been pegged to the dollar for a while now (since 98 I believe) and it seems that before the G-7 Summit in July they're going to let it go to the free market and whatever happens happens. I just bought 300 bucks worth. The Yuan is worth 12 cents to the dollar and I believe it will go up after July. Based on the stories I've been reading today the Chinese Treasury has stated that it looks to gain 10% by either the end of the year or next year.

Here's another source, this one has a more negative view though so it should suit you well.

-- May 17, 2005 10:18 PM ∞

Sara Madgid wrote:

Iraq's insurers hedge bets on a brighter future
By Andrew England
Published: May 16 2005 20:47 | Last updated: May 16 2005 20:47

Fawzy al-Hashimi sits in his office in one of Baghdad's ubiquitous electrical shops, fridges, televisions and air-conditioning units on display, and whips out an AK-47 rifle hidden under his desk.

�When the looters come I will use this,� he says, holding the weapon aloft in his chubby right hand.

The shop, which he claims is home to equipment worth $2m (�1.6m, �1.1m), is located in the world's most dangerous city. Any day, at any hour, gangs of criminals could storm in, a bomb could go off on the street outside or a gunfight could erupt from nowhere. A car bomb destroyed a similar shop just up the road a few days ago.

The gun is his insurance policy.

Yet it is not all doom and gloom. Mr Hashimi reports that turnover at his shop has increased by 300 per cent because of low import duties. Before the war, import levies could be up to 75 per cent on air-conditioning units or 30 per cent for televisions, he says. Now it is 5 per cent across the board. For eight months after the fall of Mr Hussein in April 2003 there was no one to pay taxes to.

Those advantages have been supplemented by the increased spending power of civil servants, whose salaries have risen massively. Before the war they would take home as little as $15 a month. Now it could be $400: �It's like playing cards,� he says, alluding to the gamble that is life in Baghdad.

And while Mr Khan's insurance business struggles, the company survives thanks to its investment portfolio and the surprising vibrancy of the Iraq Stock Exchange.

Over the past four years Dar al-Salaam invested 200m Iraqi dinars in the market, which has grown to ID3bn ($2.1m, �1.7m, �1.2m), he says. The market was known as the Baghdad Stock Exchange before the war and was government-run. It was closed after the US invasion, but reopened last June under the stewardship of a nine-member board.

For smart stock-pickers the rewards have been rich, particularly in the banking sector. The shares of banks most of which have dramatically increased their capitalisation had ranged from ID1.5 to ID3. Now they are trading in double figures, some as high as ID40, says Talib Tabatabaie, the exchange's chairman.

Despite the continued violence and chaos, Mr Tabatabaie believes the future is bright, espousing his nation's tourism potential. �I believe this will be temporary, the looting and the terrorism. If this belief is not correct, Iraq will be ruined,� he says. �We were buying and selling and there were bombs around, shooting and fighting but nobody got scared, they just continued buying and selling. You do not do this unless there is faith.�

http://news.ft.com/cms/s/4482073e-c643-11d9-b69b-00000e2511c8.html

-- May 18, 2005 12:07 AM ∞

BOB wrote:

I am a Charter Member of T&B and while I do very little research, I have read all the comments made by you fine people who do research and post on T&B. I have no research but I do have an analagy. Mr. Bush is commited to insuring the success of Iraq even if the United States is bankrupted in the process. Success means a value for the Dinar among other things. I am convinced that this is a great investment and if we remain patient, good thing will happen. I am an old coot who has made a lot money in his day and I believe that this venture will add some more. Keep the faith and save me a seat on the train.
BOB

-- May 18, 2005 12:14 AM ∞

Brandon Keeton wrote:

Here's one a little more favorable (so you might not like it Jason) on the Yuan. Haven't found anything new on the Dinar yet.

http://www.theglobeandmail.com/servlet/story/RTGAM.20050516.wyuan0516/BNStory/Business/

-- May 18, 2005 12:21 AM ∞

Ziarian wrote:

UK card technology firm Card Tech Limited is to provide card issuing and acquiring processing services for a planned range of Visa card products at the Trade Bank of Iraq.

http://www.cbronline.com/article_news.asp?guid=97086B18-A92D-4955-AABD-E8C0E6B231B1

-- May 18, 2005 9:08 AM ∞

Ziarian wrote:

A Crude Peg for the Iraqi Dinar:

Rebuilding Iraq involves many difficult problems. It may seem that the question of the exchange rate should be one of the easier ones to solve. The choice of currency regime - particularly what to anchor the currency to -is perhaps the most widely studied topic in international monetary economics. Yet this question too turns out to be difficult; none of the traditional solutions will quite fit.

Given instability in the region and the absence of credible institutions, the Iraqi dinar requires an anchor of considerable credibility. Some have proposed a rigid peg to the dollar, as through a currency board. But this idea has significant drawbacks. That it would mean giving up the ability to set monetary policy independently is not such a big cost, as few governments have been able to use such discretionary policy well anyway. But there are other serious disadvantages.

One big drawback of a fixed exchange rate is that it means giving up the automatic depreciation that a floating currency would experience at times when the world market for the country's exports were weak. In the case of Iraq, the most important export is of course oil. Large fluctuations in the world price of oil have wrought havoc on the economies of other big oil-producing debtor nations such as

Indonesia and Venezuela, often entailing a serious currency crisis before a change in the terms of trade is accommodated.

A second big drawback of fixing the dinar to the dollar would be the introduction of gratuitous volatility when the dollar fluctuates against other leading currencies. Argentina's currency board collapsed two years ago, not just because the straitjacket was so rigid but also because the rigid link was to a currency, the dollar, that had appreciated strongly against the euro and other trading partner currencies during the second half of the 1990s. That meant Argentine exports suffered a huge loss in competitiveness at a time when world market conditions were already weak.

Finally, imposing the dollar on Iraq could also feed widespread fears of US imperialism. The politics would get even trickier if, as in Argentina, the arrangement hit a crisis - for example, as a consequence of an increase in US interest rates.

An alternative would be to peg the dinar to the euro. But this idea has big drawbacks as well. The euro has been appreciating against the dollar and might continue to do so as a result of ever-widening US trade deficits. A peg to the euro would thus risk a future loss of competitiveness against non-euro trading partners. The problem is that, as Iraq's trade returns to normal, its trading partners will be so dispersed geographically that a peg to either currency alone - the dollar or the euro - would introduce unwanted volatility with respect to the other. Like other countries with geographically diverse trading partners, Iraq may thus be headed for a basket peg, with equal weight given to the dollar and euro.

But a basket peg does not solve the problem that, in the event of large future declines in the world price of oil, the currency of an oil exporter must be able to depreciate in order to accommodate the adverse shift in the terms of trade and help stabilise export earnings. Fortunately a proposal designed for small commodity-exporters, which I have called "peg the export price", addresses precisely this issue.

The proposal is for a country to peg its currency to the export commodity. It could be implemented as follows. The central bank would set the daily price of dinars in terms of dollars in direct proportion to the daily price of a barrel of oil in terms of dollars. The result would be to stabilise the price of oil in domestic terms. This approach combines the best features of both fixed and floating exchange rates. Like fixed exchange rates, it constitutes a transparent nominal anchor and also helps promote integration into world markets. And yet, at the same time, it retains a crucial advantage claimed by floating exchange rates: automatic accommodation of fluctuations in world markets for the export commodity. In short, it offers the best of both worlds.

To fix the dinar simply to oil alone may be too radical a proposal. While it would facilitate the recovery and expansion of the oil sector, it might at the same time discourage production of other internationally tradeable goods by shifting the entire burden of price uncertainty on to them. My proposal for Iraq, therefore, is to add oil to the basket of currencies to which the dinar is pegged. For simplicity, give equal weight to all three units. Or, what is almost equivalent, define the value of the dinar as one-third of a dollar plus one-third of a euro, plus one-hundredth of a barrel of oil.

Unlike other proposals for nominal anchors, this is one that Iraq could live with even if there are big swings in world exchange rates or oil prices in the future. The country faces enough challenges without worrying about the risks of a future currency crash.

-- May 18, 2005 9:37 AM ∞

Joe wrote:

Ziarian,Exactly my thoughts as well.This has been mentioned before. Know how do we get this across to the new Govt? That this is what they need to DO.Is there anyone with access to them to bring this up?

-- May 18, 2005 1:42 PM ∞

Sara Madgid wrote:

Good posts, Bob, Brandon, Ziarian..
:)
This one's encouraging, too.

Iraq and Iran hail new era in relations
Two states pledge to open new page built on 'mutual respect and noninterference'
Compiled by Daily Star staff
Wednesday, May 18, 2005

Baghdad and Tehran pledged to turn the page on nearly a quarter of a century of war and bitter rivalry during a visit to Iraq by Iran's foreign minister, who said his country will help to stop insurgents crossing into its neighbor's territory. Speaking at a joint news conference, Iraqi Foreign Minister Hoshyar Zebari said: "I have no doubt this visit will open up significant new horizons for cooperation between the two countries."

He added: "We must break with the past and open a new page, build better relations in all fields based on mutual respect and noninterference."

Foreign Minister Kamal Kharrazi, the highest-ranking Iranian official to visit Iraq since the fall of Saddam Hussein's regime two years ago, assured his counterpart that Iran would cooperate on security and not provide any support to the insurgency.

"We do not want Iraq to be a place for us to settle our differences with the United States," he said. "Whatever our relations with the United States may be, we think it is our duty to assist the Iraqi people."

"We ask our brothers, Muslim and Arab countries, to help us overcome this difficult period, and assist us the fight against terrorism," Zebari said.

The U.S.-appointed administration of Iyad Allawi, which was replaced earlier this month by Shiite Prime Minister Ibrahim al-Jaafari's government, had often accused Tehran of attempting to destabilize the country.

"It is not in the interest of any of Iraq's neighbors to see the current situation extended because it would have negative consequences on the entire region," Zebari said.

"We do not want to see [Abu Musab] al-Zarqawi or anybody else set up an Islamic terrorist emirate hostile to Iran or any other country in the region," he added, in reference to Al-Qaeda's frontman in Iraq.

"We are on the threshold of a new era which ends the bad reputation Iraq had under Saddam Hussein. We want to be a hub of stability" in the region, Jaafari said after his meeting with Kharrazi.

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=2&article_id=15188

-- May 18, 2005 3:21 PM ∞

Sara Madgid wrote:

Outlaw;
This article supports my contention that easy access to cash within Iraq is funding the insurgency and appears to be used to build suicide bombs and put them in vehicles.

U.S.: Unhappy al-Zarqawi ordered more strikes
Syria meeting cited, as tape surfaces defending his strategy

BAGHDAD - Top lieutenants of terrorist Abu Musab al-Zarqawi, and possibly the al-Qaida in Iraq chief himself, met in Syria about a month ago to plot more insurgent attacks in Iraq, a top U.S. military commander told reporters Wednesday.

The commander, who spoke on condition of anonymity, said the meeting was prompted by al-Zarqawi�s anger over a lull in terror strikes and led to the spike in violence that has left hundreds dead � including Wednesday�s killing of an Iraqi general.

The U.S. claim was made shortly before an audiotape surfaced in which a voice attributed to al-Zarqawi defended the murders of innocent Muslims as part of the costs of jihad, or holy war.

�The killing of infidels by any method including martyrdom (suicide) operations has been sanctified by many scholars even if it meant killing innocent Muslims," the person said in an audio clip posted on a militant Islamic Web site. "This legality has been agreed upon ... so as not to disrupt jihad.�

Earlier Wednesday, the senior U.S. military official said the increasing use of car bombs, including one last week where the driver�s foot was found taped to the accelerator, marks a tactical shift by an ever-adapting insurgency.

He said a dropoff in attacks this week was the result of raids by U.S. and Iraqi security forces against insurgents.

They included a U.S. Marine operation last week that U.S. officials said killed an estimated 125 insurgents near the Syrian border in western Iraq.

Drivers sometimes leave car bombs next to a road where they can be detonated. In other cases a driver may not even know his vehicle is carrying a bomb and it will be blown up remotely as he is driving.

Signs point to some bombers being forced into suicide attacks or measures taken to guarantee it is carried out. In an attack last week that killed 14 people in a Baghdad market, police found the driver�s foot taped to the accelerator pedal.

The U.S. official said most car bombs were built close to where they were going to be used and not in a central site. �We don�t think there is a factory,� he said.

�The majority of these things are coming together in neighborhood locations � a garage, an automobile repair shop, an abandoned warehouse, even the back of a store.�

In the last week to 10 days, U.S. and Iraqi security forces have found about half of all car bombs before they were detonated, up from a rate of 10 to 15 percent before, he said.

�We believe that there was an agreement in the last year or so between Sunnis and Zarqawi�s people to fight Americans and any government that was installed by us,� the official said.

http://msnbc.msn.com/id/7897149/

-- May 18, 2005 3:53 PM ∞

Hwnmale wrote:

HAs anyone been in contact with any banks here in Iraq either by email or by phone or even contacted a representative or official from said organization? ALso is the Iraq Stock Exchange still closed to foriegn investors? I am still working on getting out of this sandbox. Thanks.

-- May 18, 2005 4:08 PM ∞

Mike wrote:

Look under the first entry under the thread "Dinar Rumor and Speculation" on AboutDinar.com to read more about all of this, particularly an explanation by a currency expert on how the Dinar probably won't change in value when it's pegged.

-- May 18, 2005 4:19 PM ∞

Mike wrote:

Actually, it's under "Reissue of currency...." at AboutDinar.com

-- May 18, 2005 4:24 PM ∞

Hwnmale wrote:

http://www.export.gov/iraq/pdf/payments_in_iraq.pdf

Lastest and greatest about the banks which will soon be operating in Iraq.

-- May 18, 2005 4:58 PM ∞

Sara Madgid wrote:

I think the media are helping to harm the political and economic prospects of Iraq by their flimsy, often sensationalized and biased coverage of the news.

Journalists and the Military
Newsweek's explosive allegation was no "honest mistake."
Tuesday, May 17, 2005 12:01 a.m. EDT
From The Wall Street Journal

Newsweek deserves credit for coming clean about its dubious Koran desecration story in an attempt to head off further bloodshed. Already its "Periscope" report last week that U.S. interrogators at Guantanamo Bay flushed a copy of the holy book down a toilet has touched off riots throughout the Islamic world, resulting in at least 17 deaths, and added yet another weapon to al Qaeda's recruiting arsenal since many Muslims won't believe the retraction.

Less reassuring, however, is the magazine's contention that the story is a routine error. "There was absolutely no lapse in journalistic standards here," said Michael Isikoff, who was one of two reporters behind the story. Certainly we all make mistakes. But if printing such an explosive allegation based on the memory of what a single, anonymous source claims he read is standard Newsweek procedure--no documents were even produced--its readers must wonder about the rest of its content too.

The more consequential question here, it seems to us, is why Newsweek was so ready to believe the story was true. The allegation after all repudiated explicit U.S. and Army policy to treat Muslim detainees with religious respect, including time to pray, honoring dietary preferences and access to the Koran. Yet the magazine readily printed a story suggesting that what our enemies claim about Guantanamo is essentially true. Why?

We have all been reading a great deal lately about both the decline of media credibility, and the decline of both TV news viewership and newspaper circulation. Any other industry looking at such trends would conclude that perhaps there is a connection. Certainly a press corps that wants readers to forgive its own mistakes might start by showing a little more respect and understanding for the men and women who risk their lives to defend the country.

Full article at:
http://www.opinionjournal.com/editorial/feature.html?id=110006700

-- May 18, 2005 8:11 PM ∞

Ziarian wrote:

Saddam refused to hand Zarqawi to Jordan: King Abdullah:

CAIRO - The regime of Saddam Hussain rejected repeated requests from Jordan to hand over Abu Musab al-Zarqawi, who now heads Al Qaeda in Iraq, the Jordanian king said in an interview published on Thursday.

King Abdullah II told the pan-Arab daily Al-Hayat that Jordan exerted �big efforts� with Saddam�s government to extradite al-Zarqawi, a Jordanian sentenced to death at home for terrorist activities.

�But our demands that the former regime hand him over were in vain,� Abdullah said.

�We had information that he entered Iraq from a neighboring country, where he lived and what he was doing. We informed the Iraqi authorities about all this detailed information we had, but they didn�t respond,� the king said.

Washington accuses al-Zarqawi, 38, of forming a network of terrorists to attack US-led forces in Iraq and has a US$25 million bounty on him.

-- May 19, 2005 10:05 AM ∞

Ziarian wrote:

Iraq's Potential Draws Green Investors:

Often inexperienced, these 'greenhorns' are leading the charge into the 'Wild West' that is Iraqi investing

http://www.isx-data.com/opinion/?id=111

-- May 19, 2005 10:16 AM ∞

Ziarian wrote:

Now what is the future prospects in investing in Iraqi Dinar ??

This is a BIG QUESTION for the very reason that there are multiple factors involved, where the future value of new Iraqi Dinar drifts North or South, economist and mathematicians may jointly come up to design a differential equation with multiple variables projecting the future value of Iraqi Dinar.

Out of these multiple variables three variable are very important:
(a) The time factor
(b) The number of notes in circulation.
(c) The number of currency notes printed

Every prospective investor gives example of Kuwaiti Dinar appreciation.
Kuwaiti Dinar and Iraqi Dinar have two different stories, relating to the three variable mentioned here above.

AA) In 1990 after the invasion of Kuwait by Iraq Kuwaiti Dinar plunged almost as low as
around US 1 cent, after the return of Kingdom what happened

(1) The New currency was printed which replaced the Old Currency notes
(2) The Time Factor: The Kingdom return home in a very short time
(3) The number of Currency Notes in Circulation: During this short transition time period there was no printing of Old Kuwaiti currency notes, which would cause inflation
(4) The Old currency notes were replaced by equivalent New currency notes, the new currency notes in circulation remained the same as they were before the invasion of Kuwait by Iraq in 1990.
(5) On return of Kingdom, Kuwaiti Dinar re-gained its value as it was before the invasion.

This is not in the case of Iraqi Dinar, let see,
BB)
(1) The Time Factor: From 1990 to until Fall of Saddam Empire it is almost 12 years.

(2) During this long time period un-accounted large number of currency notes were printed, caused inflation, resulting in devaluation of Iraqi Dinar where it stands today.

(3) The New Iraqi Dinar has only replaced by the Old Iraqi currency notes, hence the number of currency notes in circulation remains the same in trillions created by the out going Saddam.

In light of above presentation, do not see any future prospects of investors in Iraqi Dinar, can possibly look forward for any appreciations in Iraqi Dinar value, unless notes in circulation are reduced.

In the region three countries changed their currency:
(1) Kuwait
(2) Afghanistan
(3) Iraq

In the process of change of currency of Afghani three zeros were deleted, thinking that this may revalue the Afghani, the Afghanistan currency did not revalued, only thing happened the consumer buyer now carries few currency notes instead of huge bundles of notes, otherwise the Afghani currency value in terms of U.S.Dollars other currencies stands were it was.

-- May 19, 2005 10:17 AM ∞

Ziarian wrote:

Joe i m sorry for steal your thoughts :P ok.

Regards
Ziarian

-- May 19, 2005 10:23 AM ∞

Hwnmale wrote:

Dear James

The Iraq Stock Exchange and Iraq Securities Commission are looking forward to inviting foreign investors to invest in the ISX in the near-term. The ISX is formulating regulatory policy to facilitate such investments. Following ISC approval, foreign investors will be invited to participate in the ISX. The starting date for foreign investment will be posted here.

Best,

THis was sent as an inquiry with the stock exchange.

-- May 19, 2005 12:40 PM ∞

outlaw wrote:

Sara,

I understand completely what your your saying but if you were an insurgent...would you actually care about paying for a car that you are going to fill with explosives and kill possibly hundreds of people with??? Think about it ok? These people are killers and don't care about little things like paying for the car that they are going to use to kill you with. They steal them as they steal the explosives they use to make the VBIED with. There are thousands of ammo dumps over here that are un-secured. Go figure????

Like wise... If for a remote chance that they do have enought "feelings" to actually pay for the car...the seller would prefere the "Green Back" instead of the Dinar anyways...atleast that's what I get from all Iraqi's I've dealt with.

Again, I don't belive the dinar being sold to us speculators would fund the insurgents unless you figure that they might be smart enought to sell it on "E-bay" and let everyone back home fund them...wouldn't all the Mothers and Fathers of the brave Soldiers who have died over here like to see that?

Sorry to be so blunt, but...war is hell!

Go Dinar!

Outlaw in Iraq.

-- May 19, 2005 8:42 PM ∞

Realtor wrote:

Neil Cavuto at 4:00 PM ET FOX NEWS 5/20/05

Should you invest in the Iraq Stock Exchange ?

-- May 20, 2005 11:55 AM ∞

Ziarian wrote:

Iraq Central Bank Plans Payment Transfer System By Year End:

" Earlier this week, Iraq's Central Bank warned nine companies, including the U.K.'s HSBC Holdings Plc (HBC), Standard Chartered Plc (STAN.LN) and the National Bank of Kuwait (NBK.KW) to open branches soon or face losing their licenses when they expire at the end of June. "

http://sg.biz.yahoo.com/050520/15/3sn27.html

-- May 21, 2005 6:00 AM ∞

Sporter wrote:

"IRAQ STOCK EXCHANGE" Watch the video from Fox News"

Here is the link for the segment that was aired on Fox New yesterday.

http://www.foxnews.com/

Right side; pull down the business section, click on the Iraq stock exchange.

Watch the story in windows or real player!

-- May 21, 2005 9:11 AM ∞

Michael wrote:

I cant view the video from FOX. Can someone tell me what it was all about?
I am holding onto some DINAR and of course I am on the edge of my seat watching what is going to happen with the market.
I have been holding this DINAR for about 15 months now and I am still waiting. What choice do I have at this point?
I still have not had anyone tell me why it will not happen. I have not read anything that convinces me it is worthless.
Will one of you smart guys bring me up to date?
What is the latest projection as to when this will happen? What are we waiting for? What is it projected to open up at? I am looking ofr hard facts not someones guess. Is there anything that substatiates some news? Are we all just guessing and hoping here??
I am also in IRAQ and have been for quite a while. I will say that it doesnt appear we (USA)are going anywhere anytime soon. There is convoy after convoy coming into IRAQ and we are spending a ton of money to get these guys on thier feet. So my best guess is that Uncle Sam is going to see this to the end this time around. I am trying not to count my chickens....but it is difficult not to do so. Pretty exiting right??
God Bless you all.....Go IRAQ!!

-- May 21, 2005 11:43 AM ∞

Sara Madgid wrote:

The formation of a new Sunni Political group which represents and can speak for the majority of Sunnis, can only help the process of dealing with the violence and insurgency, and addressing the concerns of Sunnis.
Sara.

Sunni Groups Join Political Forces in Iraq
Saturday, May 21, 2005

BAGHDAD, Iraq � Sunni groups joined forces Saturday to form a political and religious organization to represent the minority as it seeks to gain influence in Iraq's new Shiite-dominated government amid rising sectarian tensions.

The decision to create the new group was made by more than 1,000 representatives of Sunni tribes, political parties and religious leaders gathered in Baghdad. The organization, which doesn't yet have a name, will first open an office in Baghdad, then branch out across the nation.

"The decisions taken by this body will be shared by all Sunnis, their parties and movements, Islamists, independents, merchants, military officers, heads of tribes and workers," said Adnan al-Duleimi, the head of the Sunni Endowment.

The charitable organization was one of three main Sunni groups to back the formation of the new organization. The others were the influential Association of Muslim Scholars and the Iraqi Islamic Party.

The new Sunni organization could help re-empower the minority, which is barely represented in the 275-seat parliament and has just six posts in the 37-member Cabinet. New elections are to be held in December after Iraq drafts a new constitution, which has to first be approved in a nationwide referendum.

The Association of Muslim Scholars recently blamed a prominent Shiite militia, the Badr Brigades, of targeting Sunni religious leaders.

The government has denied involvement in the killings but said some attackers have worn Iraqi army uniforms when seizing their victims and declared Iraqi troops can no longer enter mosques, churches or universities.

A representative of the influential Shiite Supreme Council for the Islamic Revolution in Iraq said it was important for Sunnis to gain a voice.

"This will be the body to refer to in any future negotiations if necessary with Sunnis because it will represent the majority of Sunnis," Jawad Mohammed Taqi said.

http://www.foxnews.com/story/0,2933,157249,00.html

-- May 21, 2005 12:25 PM ∞

Michael wrote:

http://news.yahoo.com/s/nm/20050521/ts_nm/iraq_reconstruction_dc

This is why we are still sitting and waiting for the DINAR to do something...to do anything.

-- May 21, 2005 12:58 PM ∞

Sara Madgid wrote:

Conference to help Iraq draft constitution
By Roula Khalaf at the Dead Sea, Jordan
Published: May 20 2005 18:19

The US and European Union will sponsor an international conference on Iraq next month to support the newly-elected government as Washington seeks to re-engage its partners and Baghdad's neighbours to defeat an escalating insurgency.

Preparations for the conference, to be held in Brussels in the third week in June, come as the US appears to be taking a more visible role in Iraq's political process and pushes the new government to intensify efforts to include the Sunni Arab minority, whose members dominate the insurgency.

Hoshyar Zebari, Iraq's foreign minister, told the Financial Times on Friday that the conference, in which as many as 80 countries will participate, will discuss plans for the drafting of Iraq's permanent constitution, the most challenging task facing the democratically-elected national assembly.

It will also address ways of accelerating the disappointing flow of donor funds and speeding up the training of Iraqi security forces. "The US wants to re-engage the international community. And this is our chance to face the world after the elections and the formation of the new government," said Mr Zebari.

Despite the large turnout in the January 30 elections and the formation of a new government, Iraq's insurgency has shown no sign of abating, with more than 500 Iraqis killed this month.

Having taken a step back from Iraq's political scene after the summer transfer of sovereignty to Iraqis, the US has appeared more engaged in recent weeks, with visits to Baghdad by Condoleezza Rice, the US secretary of state, and this week by Robert Zoellick, her deputy. Both have urged Iraqi leaders to follow an inclusive governing process.

Speaking to reporters at a World Economic Forum conference in Jordan on Friday, Mr Zoellick cautioned against reading too much into his visit. But he emphasised the need for a multi-pronged approach to crush the insurgency, including political and economic strategies. This approach would be highlighted by the June conference, he said.

"You can't succeed solely on military grounds, you need a political, economic and military process," he declared. "The leaders I met [in Iraq] seemed to have a sense of purpose and commitment but there will be tough issues - one question is how you bring the Sunnis into that process."

Mr Zebari said the US administration's main concern was to ensure adequate Sunni Arab participation in the writing of the constitution and to avoid a delay in the production of the vital document. "We have reached a critical point. If we fail on this - the writing of the constitution - the situation will deteriorate," he said.

With a weak representation in the elected national assembly, the Sunnis have only two seats on a 55-member committee charged with drafting the constitution.

However, the government is still seeking ways to give the Sunnis a greater say and the United Nations is expected to provide experts to help legitimise the process.

Meeting the constitution's August 15 deadline will also be a challenge, given that it took two months to form Iraq's government.

http://news.ft.com/cms/s/4e651e78-c952-11d9-b9f4-00000e2511c8.html

-- May 21, 2005 1:33 PM ∞

Sara Madgid wrote:

Is it really possible that Newsweek didn't realize you can't flush a book down a toilet?
Guess so.

Toilet flushing is for anonymous sources
Plain Talk By Al Neuharth
USA TODAY Founder

Now Newsweek magazine is the latest media biggie with egg on its face. All because a star reporter and his editors didn't realize you can't flush a book down a toilet.

If the Newsweek dud hadn't turned so deadly, it would be funny. But the rioting, deaths and destruction in the Muslim world caused by the phony report of the U.S. military desecrating the holy book Koran is so serious it might make more of us finally understand what should be these basic tenets of journalism:

�Anonymous sources generally are cowards, who often tell more than they know.

�Reporters who use them without verification also sometimes write or broadcast more than they hear.

�Editors or news directors who permit their use are violating their trust.

This week it was Newsweek and star reporter Michael Isikoff. Last year, CBS and anchor Dan Rather. Also last year, USA TODAY and reporter Jack Kelley. The year before, The New York Times and Jayson Blair. Twenty-five years ago, The Washington Post and Janet Cooke.

Some who have been burned by anonymous sources have learned a little from it. The New York Times has under study a tougher new policy. USA TODAY has greatly tightened its control. But no major news outlet has a firm ban.

The arrogance that use of anonymous sources breeds was exemplified again this week when Bob Woodward of Watergate fame and now an assistant managing editor of The Washington Post was quoted in The Wall Street Journal as saying, �I think there's not enough use of unnamed sources, frankly.�

News providers should regard anonymous sources simply as tipsters. Unless hard digging provides real verified facts, the anonymous stuff should be flushed down the toilet. You news consumers deserve accuracy and honesty above all else.

http://www.usatoday.com/printedition/news/20050520/al20.art.htm

-- May 21, 2005 1:51 PM ∞

Realtor wrote:

I wonder if its 3 to 6 weeks instead of months for the other system to be working.

You know how news people are these days.

-- May 21, 2005 3:50 PM ∞

Sara Madgid wrote:

Michael;

I didn't watch the video, since, like you, I am already in the Dinar not trying to figure out if I want into it. But it is an opinion.. like bellybuttons, everyone has one. How many folks at Fox News made millions on the Kwaiti currency in the Gulf War, by the way?? An informed opinion on the Fox segment, no doubt, but whether it was a positive or negative spin on the story won't affect my investment or the reality of the fortunes of the Dinar very much.

You said:
"I still have not had anyone tell me why it will not happen. I have not read anything that convinces me it is worthless....my best guess is that Uncle Sam is going to see this to the end this time around."

Those are good thoughts to keep a hold of. It isn't worthless, in spite of those who would try by their much fair speaking to make it so. And Uncle Sam and a lot of other folks are definitely trying to make things work out well for Iraq as a country. I think there is reason for optimism.

And, lastly, since you don't want opinions but only hard facts about when it will peg, I will keep my opinion to myself. I am not a bank manager in Iraq, but since you are there, why don't you ask one? A bank manager there might have a better idea than you or I on when it will peg. :)

Sara.

-- May 21, 2005 8:09 PM ∞

Sara Madgid wrote:

Michael;

Actually, the segment is summarized by this article and it turns out to be a pretty positive news tidbit. It is said that new facilities will start up on a new, updated trading floor soon.

Trading Brisk at Iraqi Stock Exchange
Friday, May 20, 2005

BAGHDAD � It's not Wall Street, but it does have its moments. If the concept of buying low and selling high ever excited people, it excites them in Baghdad.

In less than one year, the newly formed Iraqi Stock Exchange has tripled its trading volume, with growth rates unheard of nearly anywhere else.

"The market since it's opening last year is doing very, very well," said Talab Tabuy, a trader. "Excellent, actually."

Tabuy is betting on companies like Baghdad Soda, Hader Marble and Thesar Agriculture. But the real excitement is over Iraq's banking sector, especially Basra Bank.

"When we choose to start our business here, demand was very high so we began just with 15 companies ... now we have about 88," said Taha Abdul Salam, CEO of the exchange.

In just the first seven months, nearly 14 billion shares have been traded, and the number is growing amid hopes foreign investment could drive the market even higher.

The trading frenzy has prompted key upgrades. A new facility is currently under construction about a block from the current location, and magic markers will be replaced by an electronic ticker and a much larger trading floor.

http://www.foxnews.com/story/0,2933,157221,00.html

-- May 21, 2005 10:35 PM ∞

chromeman wrote:

It's the CBI that now controls the pegging of the IQD, not the banks. Do you recall reading a few days back on this board, Iraq wanted to buy $100 bil USD from the CBI? The CBI refused the order but approved the sale of 50 billion USD. The CBI has tight control over whats happening right now. It's my understanding Iraq wanted to have the larger amount of USD anticipating the exchange when the IQD is pegged.

-- May 22, 2005 1:48 AM ∞

Sara Madgid wrote:

Super news Chromeman! :)

Good article, below:

Iraqi Minister: Insurgents Will Be Defeated
Saturday, May 21, 2005

BAGHDAD, Iraq � Iraq's new interior minister expressed confidence Saturday that his security forces will defeat a foreign-backed insurgency, citing a series of successes amid the recent relentless wave of violence.

Bayan Jabr said in the three weeks since he took over the post, over 250 insurgents have been captured and more than 200 killed. Insurgent violence since the government was approved on April 28 has killed more than 520 people.

"We are fighting international terrorism supported by all the forces of darkness, therefore our battle is a war of justice against injustice and, God willing, justice will end victorious," said Jabr, a Shiite Muslim.

Asked if his ministry was receiving assistance from pro-government Shiite militias such as the Badr Brigades, Jabr said he would accept intelligence from any source to defeat the insurgents.

Jabr added that 1,100 mortar rounds and rocket-propelled grenades were seized and more than 10 car bombs had been dismantled over the past three week.

Jabr his ministry was implementing a three-stage plan to end the insurgency, but did not elaborate on the project or say how long it would take. The first phase, he did say, would last three months.

"The plan began 10 days ago and God willing we will continue it until security prevails," Jabr said.

http://www.foxnews.com/story/0,2933,157272,00.html

-- May 22, 2005 5:21 AM ∞

James wrote:

FYI, this bank my be lciesned with HSBC bank soon.

Dear Mr J,
Americans alrady allowed to open an account in our bank , our branch named (Amiria) it is the nearest branch to the airport , to open an account you must have an identification card and also passport .
thank you for your intrest
aseel
dar essalam bank

-----Original Message-----
From: hwnmale
To: info@desiraq.com
Date: Fri, 20 May 2005 19:45:44 -0400
Subject: Accounts

Dear Sir, Are americans allowed to open an account with your esteemed bank? Also do you have a branch location near the airport? Thank you for your response, Sincerely, James

-- May 22, 2005 11:44 AM ∞

Michael wrote:

OK I am searching for facts but opinions are not entirely without merit here since it is about all we have right now.
I am not in a position to ask a bank Manager Sara or i would do so. I have had my wife ask a few "bankers" in NYC and they looked at her like she was insane. :)) A lot of people are going on the theory that it just seems too good to be true and I was brought up to think the same way. I just see this as a very unique situation, the likes that we will never see again in out lifetimes. So much oil here and the agriculture is the best in the Middle East with the Tigres and Euphrates runningthrough IRAQ. I have been expecting this to happen for a while now. I was in Greece last year drinking champagne with the wife counting my money. :))

-- May 22, 2005 12:16 PM ∞

Jimmy P wrote:

The Following Upbeat News From:
"Newsmax Magazine" May 2005 page 60
"Official Says Iraq Will Be Secured In 18 Months"
One Iraqi official said he thinks American security forces will no longer be needed after the fall of 2006. Interim interior minister
Falah al-Naqib said Iraq's military and police forces should be able to control all security
functions within 18 months.

"We hope that next summer there will be a huge
reduction in the numbers of multinational patrols", al-Naqib told the Associated Press. He
added, "Iraq has witnessed more bloodshed than it should." Al-Naquib would not speculate on when American forces would actually pull out of the country.

The commander of U.S. forces in Iraq shared
some of al-Naqib's optimism.

General John Abizaid told CNN, "by the end of 2005, provided the political process continues to be successful, you will see the Iraqis more and more in charge, and in some areas completely in charge.

I love sharing good news, and I'm gonna need a shoebox too !

-- May 23, 2005 1:02 AM ∞

Denis wrote:

Hi all, I've been following your weblog for about 6 months off and on. I was part of OIF #1
and while there I picked up some Iraqi Dinar through our translater for about 1250 on the dollar. What does the exhcange rate look like these days and how would I keep abreast of when and where to cash in should things begin to look good.

Best Regards:
Denis

-- May 23, 2005 1:28 AM ∞

Sara Madgid wrote:

Michael;

I am sure that the Kuwaiti situation was also "too good to be true" wasn't it? That went from, what.. ten cents to four dollars? How many of those NY bankers said to invest in that?

I agree with you that it is "a very unique situation, the likes that we will never see again in our lifetimes. So much oil..." I think you ought to think of Champagne with your wife in Greece again as a treat, after the peg.. :)

Sara.

-- May 23, 2005 6:36 PM ∞

doug wrote:

I bought some Dinar just as a gamble.
Everyone I know gives me grief for the purchase.
They tell me the currency will be changed again and I'll get nothing in return, that the exchange rate won't change due to the amount of Iraqi Dinars in circulation. I have given Kuwaiti Dinar as an example and was told the currency was changed then as well and no one really profited.
Does anyone actually have an educated guess as to what may happen with all the dinars in circulation have I bought pretty shelf paper or what?

-- May 23, 2005 9:24 PM ∞

BBdentman wrote:

Iraq central bank combats inflation

DEAD SEA, May 21: Iraq�s inflation rate may fall to 20 percent this year if sabotage attacks that deepened shortages in the economy ease, Central Bank governor Sinan al-Shabibi said on Saturday. Inflation reached 30 per cent last year as mismanagement, lawlessness and attacks against refineries and supply lines drove up fuel and electricity prices and pushed overall prices and insurance rates higher, Shabibi told Reuters on the sidelines of a World Economic Forum meeting in Jordan.

We have seen the pressures ease so far this year and we are hoping for a faster pace of rebuilding that could a create a more desirable kind of inflation, Shabibi said. Anti-US insurgents have waged attacks against Iraq�s food and fuel lines that managed to disrupt supplies, drive prices up and create a black market parallel to the subsidised prices, although government efforts in recent months have succeeded in easing the situation.

The attacks also contributed to keeping Iraq�s oil output at around two millions barrels per day � two thirds of its pre-1991 Gulf War level. This deprived us of oil export revenue. The security situation is affecting everything in our cash-based economy, said Shabibi, adding that crude exports brought around $20 billion of revenue last year.

He said the monetary authorities have been functioning despite the violence, citing work on a secondary market for treasury bills, reorganisation of a state-opened al-Rafideen Bank that accounts for 90 per cent of all assets in the banking system, and an electronic payment and settlement mechanism that could be in place by the end of this year.

Like any monetary authority in the would, curbing inflation remained the main target for the Central Bank of Iraq, the former exile said. He was referring to several foreign banks that were awarded licenses to operate after the war, such as HSBC and the National Bank of Kuwait, but have not entered the market in force because of the violence.�Reuters

-- May 24, 2005 1:16 AM ∞

okie wrote:

The NID price "on the ground" where I'm at in Iraq is 1$=1350 NID. I just went thru Baghdad in the last few days and the most telling things I saw there was more airlines serving the area and even more important was the sight of families traveling thru the airport. This, to me, is progress.

-- May 24, 2005 1:28 AM ∞

Sara Madgid wrote:

Iraqi-US forces arrest 428 suspected insurgents in Baghdad operation
(AP)
24 May 2005

BAGHDAD - Iraqi and US forces detained 143 suspected insurgents, taking the number of people rounded up in a two-day offensive in western Baghdad to 428, the military said Tuesday.

Operation Squeeze Play, the largest ever joint Iraqi-US campaign in Baghdad, was launched late Sunday to catch suspected militants responsible for attacking the Abu Ghraib US-detention facility and the road linking downtown to the international airport.

�Abu Ghraib has been a trafficking area for former Baath Party terrorists and the (Abu Musab) al-Zarqawi terrorist network between Baghdad and (western city of) Fallujah,� a military statement said.

Jordanian-born al-Zarqawi heads the Al Qaeda in Iraq terrorist group, which has claimed responsibility for multiple bombings, assassinations and kidnappings.

Military spokesman Lt. Col. Clifford Kent said residents in the Abu Ghraib area had backed the operation, which is continuing, by pointing out locations where suspected terrorists had been hiding.

�Iraqi people want these terrorists gotten rid of and they�re doing something about it,� Kent said.

The military said 128 suspected insurgents were captured on the operation�s second day, while 285 were rounded up on the opening day.

Seven battalions of Iraqi army and police, numbering more than 2,000 men, backed by US military forces have conducted the operation.

Separately, Iraqi army soldiers captured nine terror suspects Tuesday in numerous raids in the Iraqi capital, including a man who allegedly planned and conducted terrorist attacks.

Iraqi forces also confiscated Iraqi currency to the value of US$570,000 and six passports.

Four other men were detained in another location in connection with �terrorist activities,� the statement said, including a leader of a little known terror group called the Islamic Secret Army.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May164.xml§ion=focusoniraq

-- May 24, 2005 8:13 AM ∞

RON wrote:

Good work sara
Ihave been in the back ground watching,keep up the good work.ron

-- May 24, 2005 10:07 AM ∞

Sara Madgid wrote:

Doug;

You said:
"I bought some Dinar just as a gamble.
Everyone I know gives me grief for the purchase.
... have I bought pretty shelf paper, or what?"

Isn' t it strange how people know just exactly how to spend YOUR money? And they know how best to make you rich? But, they themselves are not multimillionaires. In fact, if you checked out what they do with their extra "gamble" money you might not wish to follow their leads there. But these same people suddenly become the experts when it comes to your discretionary dollar, when you want to use it on a speculative venture such as the Dinar. I bet those who invested in that tiny tech company way back when called Microsoft were also seen as starry-eyed dreamers. I wouldn't wallpaper or line shelves with those Iraqi Dinars, if I were you, before it pegs.

One good thing is that you have now identified what these people really think of you and your investments. Chances are that you will be investing with the money you make from Dinars again in the future and this could be very important information to you. Just remember how you feel about them now, then. Rich people have tons of "friends" (as long as the money endures) and it is good you can learn what they really think of you now when you are not in the position of being subject to their intense flattery aimed at "sharing" your wealth.

Sara.

-- May 24, 2005 1:40 PM ∞

Sara Madgid wrote:

'The World Has Changed'
By Lally Weymouth

May 30 issue - Last week King Abdullah sat down at the start of the World Economic Forum in Jordan and gave his assessment of the war in Iraq.... Interview excerpts:

How do you see the situation in Iraq?

I think at the end of the day Iraq will succeed and stand on its own two feet and be independent... The Iraqis have matured over the past several months, and they believe that they have to make Iraq for Iraqis. I think that the turning point was the elections on January 30. They were successful beyond my expectations, if I can be that honest.

Do you think the [Iraqi] insurgency is largely fueled from outside or inside?

I think there is an element of outside insurgents, but there are still those Baathists or members of the Saddam-era security forces that feel isolated from the process. We are working to try to reach out to the Sunni society in Iraq and to convince them that they are part and parcel of the future of Iraq. They need to be included and to start talking to the new Iraqi government. If they sit the elections out [scheduled for December], it will be a disaster.

Do you think there will be a civil war in Iraq?

I do not believe that Iraq will go into civil war or break up. I think the majority of Kurds, Shia and Sunnis want to save their country.

http://msnbc.msn.com/id/7935911/site/newsweek/

-- May 24, 2005 8:26 PM ∞

Michael wrote:

Doug, I know how you feel. I have been holding dinar for two yrs now. My family even thought I was crazy for buying it, but a while ago they also decided to buy dinar. I think you were feeling like me when you purchased your dinar. I have a gut feeling this will pay off no matter what everyone else thinks. I have lost out on other chances by not following my gut feeling. Just remember to follow your intuition. This will happen for us!

-- May 24, 2005 8:29 PM ∞

Sara Madgid wrote:

US-led forces arrest top Zarqawi aides in Iraq
(AFP)
25 May 2005

BAGHDAD - Iraqi and American forces said Wednesday they have arrested two top aides to Al Qaeda�s frontman in Iraq, Abu Musab al-Zarqawi, a day after the country�s most wanted man was reported wounded.

Described as �one of the most wanted people� in northern Iraq, Mullah Kamel al-Assawadi was arrested after he tried to bribe his way past an Iraqi checkpoint, a US military statement said, while one of Zarqawi�s regional secretaries was detained in Baquba, north of Baghdad.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May179.xml§ion=focusoniraq

-- May 25, 2005 10:03 AM ∞

Ziarian wrote:

Iraq Gets Its First Credit Cards; ATM Network Is on the Way:

The Trade Bank of Iraq on Tuesday issued the country's first credit and debit cards, from Visa International Inc., at a ceremony in Baghdad.

Visa cards were given to cabinet ministers, government officials and financial professionals, the bank said. Bank Chairman Hussein al-Uzri presented the first card to Adel Abdul Mehdi, one of two vice presidents and a former finance minister.
The bank said it would issue 30,000 Visa cards in Iraq by the end of the year. The company also plans to install the country's first network of automated teller machines, which would enable cardholders to withdraw Iraqi dinars or U.S. dollars from their accounts.

The Trade Bank of Iraq is a state-owned bank founded in 2003 to facilitate Iraq's international trade. It is capitalized at $100 million and has issued 1,537 letters of credit worth $5.7 billion since its establishment, the bank said.

Iraq's economy has been slow to recover since the 2003 U.S. invasion amid safety concerns that have left almost 30% of the workforce unemployed.

-- May 25, 2005 10:39 AM ∞

RON wrote:

Hey nid gang,this is great news that you have posted.Thanks for all the good and hard work.
Ron.
P.S.
Carl have not herd from you in awhile,hope all is well.good luck to all.

-- May 25, 2005 6:11 PM ∞

Sara Madgid wrote:

Mystery mounts over fate of terror mastermind Al Zarqawi
(AP)
26 May 2005

CAIRO- The Internet and Baghdad streets are teeming with statements about terror mastermind Abu Musab Al Zarqawi. One says he�s being treated outside Iraq for gunshot wounds to the lung. Another calls on Muslims to pray for him, indicating his condition may be dire. Only one thing is sure: none is confirmed.

The attention focused on his reputed injury indicates how crucial Al Zarqawi has become to Iraq�s insurgency.

Al Zarqawi, who carries a $25 million (�20 million) bounty like bin Laden, is believed to have personally executed foreign hostages and has shown no compunction in killing Muslims who don�t adhere to his hard-line interpretation of Islam. He also encourages bloody attacks against anyone deemed a US collaborator.

The spokesman for Iraq�s largest Shiite political group said it had unconfirmed information that Al Zarqawi was dead.

�He was killed in western Iraq,� said Haitham al-Husseini, an aide to Abdul-Aziz al-Hakim, head of the Supreme Council for the Islamic Revolution in Iraq. �But we need more time to be able to confirm.�

Hani el-Sibaie, who runs a London-based Islamic affairs research center, said calls to pray for Al Zarqawi meant he was seriously ill. �It is obvious that he is dying and his days are numbered,� he said from London.

Recent US and Iraqi raids on hospitals in Baghdad and Ramadi, west of the capital, have fueled the rumors.

Marine Col. Stephen Davis, who is commanding an anti-insurgent offensive in the western Iraqi city of Haditha, told CNN that if reports Al Zarqawi was wounded or possibly dead were true, �it probably will have some impact.�

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May182.xml§ion=focusoniraq

-- May 26, 2005 12:06 AM ∞

Sara Madgid wrote:

I think this news shows that the security situation in Iraq changing for the better.. which can only be good for Iraq and the Dinar, God willing. :)
Sara.

Iraq to deploy 40,000 troops in Baghdad
(Reuters)
26 May 2005

BAGHDAD - Iraq�s defence minister announced a massive security operation on Thursday that will see more than 40,000 Iraqi troops deployed in the capital to hunt down insurgents and their weapons.

Sadoun al-Dulaimi said the force would include troops from the interior and defence ministries. It would be by far the largest anti-insurgent operation carried out in Baghdad by Iraqi security forces.

�We will divide Baghdad into seven main areas, and the number of the forces who will take part in the operation from the interior and the defence ministry will be more than 40,000 security men,� he told a news conference.

He said it would be the first phase of a security crackdown that could eventually cover the whole country.

�We will also impose a concrete blockade around Baghdad, like a bracelet around an arm, God willing, and God be with us in our crackdown on the terrorists� infrastructure. No one will be able to penetrate this blockade,� Dulaimi said.

�You will witness unprecedentedly strict security measures.�

Interior Minister Bayan Jabor, appearing at the same news conference, said the operation was designed to change the government�s stance when it came to the two-year-old insurgency.

�These operations will aim at turning the government�s role from defensive to offensive,� he said.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May185.xml§ion=focusoniraq&col=

-- May 26, 2005 12:31 PM ∞

Sara Madgid wrote:

It looks like the Euro could be going the way of the dinosaurs. Makes you wonder what difference that will make to other currencies?? It should be good for the American dollar, the British pound, and it might affect positively the strength of the GCC and Iraqi Dinar? Any thoughts on this, Carl.. others?
Excerpts here, full article url below:

May 26, 2005
French in disarray as they admit EU treaty vote is lost
By Charles Bremner in Paris and Philip Webster, Political Editor

THE leader of France�s ruling party has privately admitted that Sunday�s referendum on the European constitution will result in a �no� vote, throwing Europe into turmoil.

�The thing is lost,� Nicolas Sarkozy told French ministers during an ill-tempered meeting. �It will be a little �no� or a big �no�,� he was quoted as telling Jean-Pierre Raffarin, the Prime Minister, whom he accused of leading a feeble campaign.

After Philippe Douste-Blazy, the Health Minister, insisted that �we should trust the head of state�, M Sarkozy retorted: �Everything has to change � our way of doing politics . . . the labour law.� He said that the UMP would demand changes after the referendum and that �the Government had better follow the party�, the sources said.

M Sarkozy wants to be President and is locked in a bitter rivalry with M Chirac. The leaking of the row by M Sarkozy�s camp was a sign of the rising bad blood between the party leader and M Chirac�s team.

Mr Blair, pressed in the Commons to make plain that Britain would not go ahead if there were a rejection of the treaty in France�s vote on Sunday or the Dutch poll next Wednesday, effectively did so.

He said: �If any country did vote �no� there would have to be a discussion at the European Council on it to see the way forward and there is really nothing else to say at this point.�

http://www.timesonline.co.uk/article/0%2C%2C13509-1628272%2C00.html

-- May 26, 2005 2:50 PM ∞

Brandon Keeton wrote:

Al Zarqawi hopefully is finished. I applaud the Marines in the western part of Iraq taking the fight to the enemies of freedom. Once again I'm freakin' proud to be a Jarhead!! Soon, I'll be a RICH freakin' Jarhead because of my brothers. Semper Fi!!

-- May 26, 2005 9:31 PM ∞

BOB wrote:

I am delighted to see that finally the US and Iraqi forces are taking an offensive posture. In the US, we often give criminals the benefit of the doubt, but we are not dealing with normal criminals. These are sub-humans who are willing to blow themselves up to achieve some desired goal. The have to be treated a cancers on society or civilization and removed. By that, I mean killed and put in a position where they cannot disrupt the civilized world. We have become to humane, especially when dealing with terrorist. The Geneva Convention applies only to Soldiers who represent some country and these idiots do not fit this category.

We are applying the politically correct philosophy
of the US to a culture totally foriegn to anything we have ever seen. We have to fight fire with fire and maybe apply some Draconian measures to bring these terrorist in line with the civilized world.

I am an old coot who doesn't have the tolerence that some you younger people have, but Patton would know how to deal with these terrorist and his way would probably be best.

Our best hope lies in taking a ruthless, offensive
attitude and irradicate these terrorist wherever they are.

While noone knows the future of the dinar, I really appreciate all the comments and posts that you fine people make and while you may think that noone is paying attention to your post, at least one is reading it and is grateful for your research.

-- May 26, 2005 10:21 PM ∞

chromeman wrote:

Good post Bob....
I appreciate you candor and I couldn�t agree with you more especially on the part about terrorists not qualifying for treatment of Geneva Convention.

This is without a doubt a most significant time. I sure hope the criminal Al Zarqawi is dead. And the cleanup with the 40,000 Iraqi security force is successful in cleaning up the insurgency in Baghdad. To be on the offensive is a great feeling.

-- May 27, 2005 1:34 AM ∞

Sara Madgid wrote:

Fw: Chairman of Al-Warka Arrested!!!!

I thought this post from another Dinar board important enough to bring to the attention of this board. It is alleged that the Sunni Chairman of the Al-Warka bank has been arrested for funding the insurgents. I hope no one who invested with that bank had their money going toward killing Iraqis or Coalition forces, and that their money still exists and has not been funnelled off into insurgent holdings??
Sara.
PS I was unable to get into the full article this person quotes at the NYTimes, his Login is given in his post below.

Quote below this url is from:
http://www.investorsiraq.com/showthread.php?s=157e9415f0427a5dfc66a8b6253e6f34&t=5806&page=1&pp=20

*Chairman of Al-Warka Arrested!!!!*

Damn, this is huge!!!

http://www.nytimes.com/2005/05/27/i...html?oref=login
(Login Required:POPOFF, TODAY)

An excerpt:

"In arrests that highlighted rising sectarian tension, Sunni businessmen said Thursday, five or six wealthy Sunnis had been seized over the past two weeks. One man, Saad al-Bunnia, chairman of the Iraqi Bank Association and chairman of Al Warka Bank, was taken from his home in Baghdad on Sunday by Iraqi and American soldiers, who also seized $6 million from a safe in his home.

The ministers 'announced that this money belonged to insurgents,' said Hathal Aga, the bank's vice chairman, 'but it's actually bank money and we can prove it.' It was not clear if this $6 million was the money the two ministers referred to as having been seized in raids."

Not to jump to comclusions... but was that our money that was seized?! Why would the chairman of a bank keep 6 million dollars at his private home if it is legitimate money? Certainly THE BANK HE OWNS with the big steel vault would be a better place... God I hope this is a mix-up. The article hints that the money was "the money of the insurgents". Does this imply he was holding it for them? Protection money? If my Warka money has been used to fund insurgents...

This is serious, we need to follow this up. Anyone got a good contact at Warka? They haven't responded to my emails for months...

IQDFiend.

-- May 27, 2005 10:44 AM ∞

Sara Madgid wrote:

Thanks, BOB, for your encouraging words. :)

Have you ever noticed that when a magazine gets their facts wrong, the retraction is often hidden far in the back of the paper and never sees the light of day?

It is also interesting that, over here, when an allegation is proven false, people stop believing it because continued belief in a proven false allegation is considered untenable.

Sara.
-----

Pentagon says detainee retracts Koran allegation
By Will Dunham Thu May 26, 4:18 PM ET

WASHINGTON (Reuters) - The Guantanamo detainee who told an FBI agent in 2002 that U.S. personnel there had flushed a Koran in a toilet retracted his allegation when questioned this month by military investigators, the Pentagon said on Thursday.

"We've gone back to the detainee who allegedly made the allegation and he has said it didn't happen. So the underlying allegation, the detainee himself, within the last two weeks, said that didn't happen," chief Pentagon spokesman Lawrence Di Rita told a briefing.

The Bush administration has denounced as wrong a May 9 Newsweek article that stated U.S. interrogators at Guantanamo had flushed a Koran down a toilet to try to make detainees talk. The magazine retracted the article.

http://news.yahoo.com/s/nm/20050526/us_nm/security_guantanamo_koran_dc_6

-- May 27, 2005 12:28 PM ∞

Ian wrote:

Sara,

The bigger problem will be when the US investigators track where the money came from.. I hope you all did your research before sending your money to Al Warka.. were you absolutely positive that it was a legal transaction? If not, be prepared for a knock on your door by some men in black suits...

On another note... just set up a LEGAL account with HSBC online... and wait till the Dinar pegs.. then you can mosey on over to HSBC and cash out, pay your taxes... and be happy...

Happy Dinar Days

-- May 27, 2005 1:52 PM ∞

Michael wrote:

What is the HSBC??

-- May 27, 2005 2:51 PM ∞

Sara Madgid wrote:

Ian;

I must agree with you about the tracking back by the authorities to Warkaa Bank investors as I had not heard that it was legal to open an account in Iraq. A friend of mine who has a Jordanian connection who sold him his Dinar said to me this morning that the Jordanian man said NEVER to do business with a private bank there, only state banks, because they are backed by the state. He also had never read anything that says that it is legal for an American (or any other foreigner) to have an Iraqi checking account.

My friend said of the fellow he dealt with in Jordan that he "had told me earlier that his contact in Iraq would have to open the account with me as a partner to that account. He said that I could not open an account in Iraq alone, because I was not an Iraqi citizen. And, he will only deal with his contact at the Central Bank of Iraq. He actually owns a business in Jordan and the Jordanian government allows him to purchase the dinar in Iraq. The Jordanian government would never allow someone to sell Iraqi dinar if they even SUSPECTED that they would be supporting the Iraqi insurgents. That is the reason that I use this guy and no one else."

Also, people who did invest with Warkaa Bank sent copies of their driver's licenses and other personal documents. Who do you think is looking at those documents right now? The Iraqi government and the US government. The Government of Iraq could actually SEIZE the 6 million U. S. dollars and they could just shut down the bank after they find out that they have been opening foreign bank accounts. All the people with accounts would be investigated as their money would have been used to fund terrorism. If so, Homeland security, FBI, CIA, and other men in black would indeed end up at the door of Warkaa Bank investors.

This incident supposedly happened last Sunday... I wonder why the Bank didn't immediately contact its holders to inform them and tell them it was all fine and legitimate and not to worry?? I hear that the Iraq Stock Exhange site (Warkaa Bank page) has mentioned the incident, I will have to go check for it. I think it is important to remember that there is no FDIC in Iraq.

Sara.

PS Michael HSBC is a UK Bank:
http://www.hsbc.co.uk/1/2/

-- May 27, 2005 3:41 PM ∞

Sporter wrote:

Ian,

I could not agree with you more, for those who hold a account in Iraq, I hope you realize that your Dinar is not insured!. What is the reason for a bank account with walka?, it is greed i.e. taxes God help you. I can see no benefit by having a Iraqi bank account!

-- May 27, 2005 4:11 PM ∞

Sara Madgid wrote:

Sporter;

I have to disagree with you that it was all greed that motivated folks to invest in the Al-Warkaa Bank. Some people were just trying to secure their Dinars in the case that the country took back the current Dinar and replaced it with another issue of currency. Some were saying maybe this would mean that you would be unable to trade Dinars if you were not in the country, whereas if you had an Iraqi account, it would automatically change over with no effort. It seemed a smart move in some ways and not due to greed or even tax avoidance.

Sara.

-- May 28, 2005 12:04 AM ∞

JB Smith wrote:

Well Sporter,
here are seven benefits,

1. Making 22% or 15% more very upfront (buying 1 mil for $684 versus $875 or $800)
2. Not to worry about change of currency of any sort
3. Not to worry whether Dinars we received are real or fake
4. Not to worry about closing large denomination
5. Not to worry about finding a place store them
6. Able to invest in ISX like a pro on very first day
7. Gaining some interest (even though it might be smaller)

http://www.investorsiraq.com/showth...p=3172#post3172

And if you visit that post,
you'll also find
six reasons you might /not/ want to,
and many other
well-reasoned discussions,
as opposed to emotional outbursts
and unnecessary accusations.
i'm sorry you "can't see"
but others are not so handicapped,
God help you.
.

-- May 28, 2005 2:31 AM ∞

JB Smith wrote:

Oh rats
my link broke
and i can't edit my post

Sorry,
but interested parties
will have to cut and paste.
.
http://www.investorsiraq.com/showthread.php?p=3172#post3172
.

-- May 28, 2005 2:35 AM ∞

Sara Madgid wrote:

Connecting the dots..

I feel very bad for those who may have lost their investments through the Al-Warkaa Bank fiasco. I hope in time things work out for all of you. But there is a larger issue here and it affects each one of us and our loved ones. Let me explain, starting in Iraq.

Suppose these WERE terrorist insurgents who got these legitimate US identification papers. All they have to do is change the driver's license ID photo and they have what will check out to be legitimate papers for getting through Iraqi checkpoints. Here I thought they were using papers from Middle Eastern countries to fake their way through the checkpoints in Iraq. It appears very possible that they could be using DINARIAN BUYERS IDs to get through them. It is a possible scenerio. But it gets worse.

Feds seize fake badges
1,300 counterfeit emblems found representing 35 different agencies
Posted: May 10, 2005

Federal officials arrested a New York man yesterday and charged him with possessing and selling more than 1,300 counterfeit badges representing 35 law enforcement agencies.

The counterfeits are "very, very good," Special Agent in Charge Martin Ficke of the Immigrations and Customs Enforcement agency told CNN, adding that nine out of 10 of the badges would "pass scrutiny."

The fake badges looked like the real thing from agencies such as the FBI, U.S. Marshals, Customs, Drug Enforcement Agency, Treasury and the New York Police Department.

"For someone to have that in their possession and utilize it to identify themselves as law enforcement could be devastating to security, particularly homeland security," Ficke is quoted as saying.

Besides the badges, officials say they seized two NYPD police uniforms, two-way radios and six firearms, including a Glock 9-mm handgun, a Beretta semiautomatic rifle and a Winchester shotgun.

According to the CNN report, Khorosh was arraigned last night and is scheduled to be back in New York Southern District court May 23.

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=44200
http://www.foxnews.com/story/0,2933,156124,00.html

OK, so, using the legitimate ID of homeborn Americans, is it beyond reason that they might use them to pretend to be officials in THIS country, to infiltrate the US? And if someone here runs that ID through our checks.. there IS a person at that address, with that drivers license, etc. And who is to say whether or not it is an Arab who took a more Western name? Adam Smith may LOOK like Mohammed Abdul, but, hey, isn't that prejudiced to detain them when their IDs check out as legitimate American citizens?

I think this identity theft is a concern.. for Iraq insurgents moving about much too freely over there using fake IDs, but it could very much affect our safety over here.

Sara.

-- May 28, 2005 9:29 AM ∞

Sporter wrote:

J.B.

Whats with the personal attack?. This site is getting way out of hand,when the pot stirs.

-- May 28, 2005 11:36 AM ∞

JB Smith wrote:

Oh,
i'm sorry Sporter,
is a personal attack worse
than a generalized one?

And so,
when you slander a broad category of people,
i should not take it personally,
even if i may be in that category,
because it's not personal?

I'm not saying
there aren't a lot of crooks out there,
God help them,
but as you can ^see now,
the motives of /most/
are purer than you alleged,
because you couldn't see.
.

-- May 28, 2005 11:46 AM ∞

Sporter wrote:

J.B.

O.K., this is not going to be "tit for tat". I stand before one Roman Catholic Church and one God. My eyes and ears are opened!

-- May 28, 2005 1:30 PM ∞

Sara Madgid wrote:

Insurgent chief Zarqawi flees Iraq for surgery: British newspaper
(AFP)
29 May 2005

LONDON - Al Qaeda�s leader in Iraq, Abu Musab Al Zarqawi, has fled the country for emergency surgery after a US air strike left him with shrapnel lodged in his chest, the Sunday Times newspaper reported.

In a front-page report that quoted �a senior insurgent commander in close contact with his group,� it said it was believed that Zarqawi�the most wanted insurgent in Iraq�was in Iran.

The report contradicted a statement on several Islamist websites Friday in which Al Qaeda in Iraq asserted that Zarqawi was �in good health� and directing military operations.

The Sunday Times said Zarqawi has suffered bouts of high fever since he was wounded by a missile that struck his three-car convoy three weeks ago as he fled a US offensive near al-Qaim, a town in northwest Iraq.

�Shrapnel went in between the right shoulder and his chest, ripped it open and is still stuck in there,� the commander was quoted as saying.

His condition late last week was described as stable, but supporters were preparing to move him to a �non-Arab� country for surgery to remove the two pieces of shrapnel, The Sunday Times said.

The newspaper said the commander�s account could not be independently corroborated, but added that he has proved reliable in the past.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/May/focusoniraq_May203.xml§ion=focusoniraq&col=

-- May 29, 2005 8:50 AM ∞

Brandon Keeton wrote:

Hey everyone,
For those of you with Iraqi bank accounts ar Warka, it seems that you can rest easy. The arrest of the chairman was a personal attack by one of his enemies and he has been released.

-- May 29, 2005 10:58 AM ∞

Carl wrote:

IS THERE A STRONG STORM COMING ?
What the world economy has not made arrangements for is the "Storm of Inflation" brought on by the ever increasing demand for oil and the inability to meet that demand.
To get you up to speed on what I am talking about, I need to take you back to the 1950's, for this is when a geologist named M. King Hubbert predicted the U.S. Oil Production would peak in the 1970's.
Shell Oil was astonished with his prediction, and tried to talk him out of even talking about such outlandish predictions. His peers were skepical of his predictions, and as they say in the South, "That boy is a quart low on smarts" but to everyone's dissatifaction he was correct. The U.S. Oil Companies did peak in 1970, and has steadily declined since then. History shows the oil companies started pumping the big oil fields first, and pumped crude faster than more fields could be discovered. Just as predicted,the pace of discovery did decline as the smaller fields became harder to find.
Just because you have discovered the oil, doesn't mean you immediately start pumping oil. Investors have to be found along with financial funding from banks, etc;, Oil leases have to negoiated, right of ways obtained to bring in the equipment, legal papers recorded and litigation completed, get the road cutting equipment to the area, cut the roads so oil drilling equipment can be brought in, arrangements made for the work crews, skilled crews hired, communications established,wells drilled, pipeline right of ways bought, pipeline's laid, pumping stations built, storage facilities built, etc. This process takes sometimes years to complete before the first barrel comes out of the ground.

He also made the prediction the U.S. had only 170 billion barrels underneath our soil, and this included reserves.

Some critics say he was lucky in his projections. That, they see no global oil production crisis at all, since by then, the world will have come up with another alternative energy,and will have slowly converted over before the world reaches it peak. The problem with that view, is the world has not come up with another alternative energy that will meet the demands, eventhou, a few years ago, geologist starting applying Hubbert's methods to the production of Global Oil.
Using those projections, governments have known, oil production would peak sometimes in the first decade of the 21 century.
Some said in late 2005 or 2006. The most optimisic say the peak will occur by 2010.
In Feb of 2005, a study was done for the U.S. Department of Energy, and it was determine the Energy Train had already left the station, and it would take at least 10 years for the U.S. Economy to adjust to the higher oil prices, and reduction in oil production.
If these predictions are accurate, the U.S. will have to get kicking to learn how to convert coal, natural gas and other fossil fuels into combustible liquids to be used in vehicles, etc;

Supporters of the Coal liquefaction,which creates synthetic oil, refer to the process as "clean Coal Technology" The downside is it still produces carbon dioxide, the main reason for Global Warming.(Yesterday, Seattle issued a heat warning for this first time in their history, London broke their heat record history yesterday with 90 degree heat wave for May)
Then nobody wants a clean coal plant in their backyard, due to the acid runoff, piles of debris, etc;
Energy sources say coal liquefaction can produce synthetic oil for a cost of $32.00 a barrel vs $50.00 existing price range of crude oil.
It takes billions to start up coal liquefaction,and investors want to make sure, their investment will be safe before jumping into the Tar Sands so to speak.
Is the day of the cheap ride over with? Most will say yes!!! Most anaylist say its starting to be a downhill turn already.
The first indications of warning just before global production peaks, will be gas prices rising dramatically and then become increasing volatile. Oil producers will have more cash in reserve that ever before. (recently oil companies showed record profits)
Because the price of oil affects just about everything, you will start to see the cost of inflation taking its toll.
OH! BUT WE HAVE IRAQ!!!!!!!!!!
It is believed that Iraq possesses the world's second largest oil reserves.Some even say it is believed they have over 350 billion barrels of oil, more than any other middle eastern country.
The truth is no one really knows, as a lot of the oil fields due to security situations has never be explored. By oil standards, most of Iraq's oil is considered to be of high quality, and inexpensive to produce, making it one of the worlds most profitable oil sources.It is a known fact by all, that with the gobal demand for oil, Iraq will become the oil industries source to meet the rising demand for the black gold. Oil companies are jostling for production rights in the Iraqi oil fields. There are Five Oil Companies that dominate the world oil industry. Two are U.S. Based, two are primarily United Kingdom based and a distant third is in France. Considering the fact, that it was the U.S. and United Kingdom who went almost alone as enforcers of the UN sactions, against Saddam, and is also headquarters of the worlds four largest oil producers, you can bet your favorite pig, the U.S. and United Kingdom have secured postions on the Iraqi Oil Fields.
You can also bet, that the Iraqi policies setforth by the oil ministry will not conflict in anyway, with the four oil companies. This has been assured by most recent meetings in London with chalabi, who is now the "Acting Oil Minister of Iraq".
I think "Acting" is a good word for him.
I don't know if you are aware that US and UK companies held a 3/4 share in Iraq's oil production before they were given the boot, with the 1972 nationalziation of the Iraq Petroleum Company. After the nationalization, Iraq, turned to the French Companies and Russia for funds and partnerships.(If you wondered why France and Russia did not want sactions enforced, this just may give you a hint, beside the oil for food payola)
The U.S. and U.K. are very adamant, that since we went in under the banner of the so called saved, "the Iraqi People" , that the "FAT PIG" is not going to get out of the pen again. The U.S. and U.K. definitely don't want those other French and Russian thieves to take and barbeque the pig before the U.S. and U.K., can get their two hind quarters.
De-nationalization of the Iraqi Oil Fields are a certainity. Regardless of what you may think of the Iraqi war, one thing is for sure, the removal of Saddam, has placed the U.S. and U.K. in a strong position to have more access to the oil, than any other country.
These oil fields were and are of vital importance to the geo-strategic, military and economic interest of both the U.S. and U.K.
It no secret that, Russia at one time held production rights in some Iraqi oil fields along with France. China had made in roads into the oil fields as their prediction of needing 5.5 million barrels a day by the year 2020, appears to be coming true.
The U.S. and U.K. are concern that rivil countries may get some footholds on certain oil fields, and they want the largest portions of the pie divided among Exxon, BP,Shell and Chevron, before the Pig Pen Gate is open.
Few outside of the Oil Industry realize the amount of profits to be gained from the Iraqi Oil Fields.
The oil production cost is estimated to be, believe this are not "$1.00" a barrel, and sold on the international market at international prices.
The recovery rate from the fields is expected to be 65%.
To give you an example; in 2002 $35 billion dollars was the profit of the 5 oil companies.
It is estimated, with the Iraqi oil fields the annual profits will be $95 billion dollars. 3 times over their usual profit margin.
Over time the profits has been projected to reach from $600 billion to $9 trillion dollars.

Was George Bush Jr and Tony Blair paying a attention when our energy advisers gave them the lowdown on the world's oil starting to peak?
Did they really move on Iraq, because of weapons of mass destruction, or the inhuman treatment of the Iraqi People?
Or was it really a move to secure the economic stability of our Nation and the United Kingdoms survival against the declining oil production.

That you will have to answer for yourself...

This I believe.... barring any unforeseen major problems with Iran, gradually eliminating the insurgency, and bringing the Iraqi government to its own, will drive the dinar value upward.
The time frame for this valuation is still out there for anybody to guess at.
Is your investment secure?
The answer is ....just how much will the coming inflation, due to the rise in oil prices affect the purchase price of the dollar, against any gain in dinar value.

The answer also .. depends on who is holding the winning hand at any given time...

The decision you have to make as a dinar investor is when to cash in, and push away from the table.

Did I hear someone say...give me four cards?

-- May 29, 2005 11:29 AM ∞

JB Smith wrote:

THOSE OF YOU IN IRAQ,

Or those the neighborhood,
or those who have been there,
sorry for yelling
to get your attention, but
i'm curious:

How does the money thing work
at present?

I know nothing of economics,
don't know the lingo
i'm just trying to apply common sense.
And so i wonder,
e.g.,
what is the average wage, in dinar?
and,
how much do things cost?

I mean,
if my math is correct,
a gallon of milk should cost in excess
of three thousand Dinar,
so,
does Mrs. Iraqi take tens of thousands of Dinar
to go grocery shopping?

What i'm getting at,
and i'm sure an economically oriented person could
put it better,
the question for those of you who are there is,
what makes you think the current value of the Dinar
is too low,
if the system is functioning OK now?

IOW,
would not a rise in the value of the Dinar
upset things like wages and cost of living?
And wouldn't it do so proportionately,
so that something like the $.33 peg we'd like to see,
would be devastating to the Iraqi economy,
or at least those who are paid,
and buy their groceries,
in Dinar?

As i said,
i am not an economist,
but i figure those of you who are there
have a unique perspective,
and can tell me why you are optimistic about this venture.
.
tia

Oh,
and a humble expression of gratitude,
that i could never find words to adequately express,
to those of you who are there
in the service of Freedom,
thank you.

-- May 29, 2005 5:30 PM ∞

shannon wrote:

The Iraq people are living, adjusted to US dollars within Iraq. I would think, anything that does not come equal to the value of that US dollar, when exchanged, would be what backslides the economy there. If our Us Dollar devalues for the USA people, many people lose homes, cars, accounts, ect. My feeling is, that same scenario would be felt as well in Iraq.
I am not economist either. But I do buy bread.

-- May 29, 2005 5:41 PM ∞

James wrote:

You can go to the Baghdad International AIrport and open a bank account with the Rasheed Bank of Iraq. Only FYI, thier application is in Arabic though.

-- May 29, 2005 6:25 PM ∞

Sara Madgid wrote:

Any Higher Motives??

Carl;

You said:
"Did they really move on Iraq, because of weapons of mass destruction, or the inhuman treatment of the Iraqi People?
Or was it really a move to secure the economic stability of our Nation and the United Kingdoms survival against the declining oil production."

I think that if the good of deposing Saddam and removing his inhuman treatment of the Iraqi People was partially motivated by a desire to secure the economic stability of the US and UK, as you allege, that is ok. I think the problem comes when people accuse the US and UK (and other coalition forces) of being soley motivated by selfish or oil interests, and that the inhuman treatment of the Iraqi people means nothing, and Americans are (through their elected representatives) merely trying to secure Iraq out of self-interest for their own economic stability or out of greed for how much money they will make. It makes the sacrifice of American and coalition lives a farce.

I don't think you should muzzle the ox that pulls the plow over the fields for you to grow your crops (1 Tim 5:18, Deut 25:4). If the ox helped to make possible the crop you bring in, and without his efforts there would have been no crop, you ought not to stop him from eating a part of what he made possible for you to enjoy. The Iraqi people stand to gain greatly by this venture - a free and prosperous country is a great gain to any oppressed people and their children, is it not?

Have you ever noticed that those who would rob from you are the first to think you might steal from them? I think that often, those who are not capable of higher degrees of morality, who are eyeing your pocketbook and wondering how they might take from you, are the first to see that you could possibly steal from them. It is because such people know that, if the roles were reversed, you can bet they would be doing it for their own gain, and they don't think you are any higher in your spirit than they are. And, in this case, some who do so accuse the US/coalition believe that they have the higher moral ground due to their theological prejudices (how could "the Great Satan" do good?). Therefore, they make the accusation that all of our peoples are not motivated by pure hearts, nor indeed can they ever be motivated except by greed or avarice.

I hope that many are higher than that kind of jaded cynicism which reduces everything to degrees of corruption and can see no good in any among mankind.

Were there other motives in going into Iraq than humanitarian ones and to secure the world from a person who should not be entrusted with WMD? I am sure that economic incentives posed an additional carrot. But to suggest that it was the main or sole purpose in going into Iraq sides with the enemies of freedom who were equally sceptical and mystified when the Iraqi people toppled the statues of Saddam and turned out to vote in January.

Because a person gains from a relationship, such as a marriage, does it mean that you should not enter into that relationship because your motives are partially from what you might gain by it? I agree that if selfish motives are the sole reason for any relationship, that is wrong, but mutual benefit in a relationship is not to be sneered at as wicked vice merely because benefit accrues. If that were so, no one would open a bank account, since bankers are obviously making money off the transaction. Does a banker making money from your business transaction make all bankers EVIL who do this? If both sides of a transaction gain and are satisfied the deal has been a good one for them, why accuse the entire transaction of being evil because there was gain that occurred? It is like saying the bank paying you interest is evil, as is the Bank making interest on the loan of money you gave to them. The fact is, good was done, evil was deposed and freedom was instituted for Iraq, and it wasn't done UNwillingly by the American and coalition forces. This partnership was a good one FOR IRAQIS. Iraqis owe a debt morally to those who helped them when the chips were down. Would it have been better.. FOR THEM.. if the nothing had been done and they had been left in the hands of Saddam?

If the US, the UK and other coalition members benefit from having given the Iraqi people help when they needed it, it will have been paid for in the blood of their sons and daughters. It is hardly a "free lunch". We value our loved ones as much as they do, and do not sacrifice their lives willingly or glibly. We are not gullible and stupid people, but ones with high ideals for the world. Perhaps that is why God has seen fit to give us the status we now enjoy in the world. With those powers and privileges comes moral obligations. I don't think we have abandoned that and sacrificed it on the altar of money and selfishness as our enemies accuse.

America and her allies are still great and moral peoples, even if some cannot see that because they can't get their eyes out of the gutters of life to look beyond to what humanity is designed and called to be. Martin Luther King once said, "I have a dream" and changed the course of our nation by his dream. That is because there is a higher ability and nobility in some of mankind who can help make freedom a destiny for all peoples.

Sara.

-- May 29, 2005 9:46 PM ∞

Brandon Keeton wrote:

Carl,
Whoah man! That's some deep stuff and you probably have done your homework. But I have to agree with Sara on the one point she raised and just simply say that if we really wanted the oil and only the oil, we would have done it back in the first Gulf War.
I'm not saying that it isn't ONE of the reasons we went there but it is definately not the only one.
Later on in your post I agreed with your assessment of the Dinar. It will go up, but when and how much and can we curb our greed to get out at the right time.
Good posts both of you and GO DINAR!

-- May 29, 2005 10:38 PM ∞

RON wrote:

Hey carl and gang,glad to read the interesting
posts.Thanks,ron

-- May 29, 2005 10:48 PM ∞

BOB wrote:

Carl and Sara: Great Posts-I am extremely impressed with both of you. You do the research and relate it to us in a manner that a 10-year old child could understand.

I hope that we went into Iraq with more than love and benevolence. I hope that we had some ulteria motive other than concern for people throughout the world, otherwise, we should be in Africa where Aids and barbarism is rampant.

The U.S. is reaching the point where we had better start looking out for our interests. This past year, we had a $500 Billion trade deficit and a $400 Billion budget deficit and a desire for oil that caused peak productions in all the oil producing countries and ran the price of gas to record levels.

For every dollar of trade deficit or budget deficit, there is someone holding a treasury note or something, thinking it is worth face value and that he can cash it in at will. You would be surprised at how many people think that there is a giant printing press in D.C. that prints money and that we do not owe anyone. The big holders of U.S. IOU's are Japan, Germany, So. Korea and England and if they ever get spooked and demand their money, we will have a catastrophy in this Country, so if we are doing something which will strengthen this Country by our action in Iraq, then I approve.

With all that said, I believe we are in for an oil crisis and holders of dinars stand to profit more than anyone. I am a firm supply and demand advocate and I believe that we are in the driver's seat as this situation unfolds.

I type as I think so please do not critique my spelling and grammar.

Please take my comments as contructive as I am a team member and I believe that we have a great group (with the exception of a couple) who are all pulling in the same direction.

-- May 29, 2005 11:37 PM ∞

chromeman wrote:

FYI �. This little bit of info may offer some peace of mind.
On the 28th I did e-mail Miss R about concerns we have with the V.P. of Warka Bank. I did invite her to make a statement on behalf of the bank, to be posted here on our board, for those of us who are account holders. So here you have it direct from Baghdad less personal names and signature.

Iraqi Stock Exchange [isx@warkainvestmentbank.com]
To:

Dear Sir,

Thank you for your E-mail dated 28/5/2005, We understand your concerns about what has been published and the terrible mistake against our Chairman of the Board and our Bank and against the Banking and commercial society as a whole.
We assure you that the money seized is a legitimate money and this has been confirmed by an official letter from the Central Bank of Iraq to the concerned authority.
your money and all the customers money is safe and the Bank business is going on as usual.

Best regards.

WIB

-- May 30, 2005 1:01 AM ∞

Tyler Perry wrote:

Hello all. I've been following this thread for quite some time now, and I have to say I've been very impressed with the wealth of knowlege and advice that is offered here. I finally decided that I could offer a unique insider's view of what goes on here in Baghdad, given my current position. I'm a contracting officer with the US Air Force, which gives me direct contact with many Iraqi vendors and contractors here in Iraq. I hope that I can offer a small window to the "front lines". I'm no economist, but I am privileged to be a direct part of the economic revitalization efforts that continue to go on here. And as a current Dinar investor I have a certain vested interest that this economy continues it's path to stability...=)

Some quick notes that may or may not have a news story attached to them somewhere on the www, we just got official word to start acquiring the necessary equipment to start dealing in dinars for contractor payments. Currently we pay out over $120 million per month in USD. Although we have no timeline to officially implement this program, we are making our vendors aware that within months we will be paying out mostly in dinars. So let's assume that we pay out approx. $100,000,000 per month in USD, that translates into 146,500,000,000 Iraqi Dinar per month that we will be shelling out. Sara, Carl, et al what are your thoughts on this? How do you think this will effect the economy?

~Tyler

-- May 30, 2005 7:22 AM ∞

Carl on Wilson Lake wrote:

Sara:
The article written is about the coming inflation, if gas prices continue to be high, and go even higher. Already the cost to transport goods thoughtout the world is starting to rise or have fuel surcharges attached. This in turn raises the cost to purchase goods. ie "inflation".
Even the most optimistic geologist, from the articles I have read state the World Oil is peaking, with demand for oil getting heavier. These numerous studies have been given to the leaders time and time again.
Being a supporter of George W and the Invasion of Iraq, I have no problem with our removing Saddam from power. The benefits for the Iraqi people is self evident.
The Issue of "why" we went into Iraq was not being debated. But the information I have read regarding what our leaders have been told about the oil peaking,does lend some credibility to the ones who believed that we entered strictly for the oil, and the protection of our nation's economy and security.
Which came first the chicken or the egg is not material.(Main objective, Securing of oil supply, with additional benefits of freeing the iraqi people, or main objective removing weapons of mass destruction, with additional benefits of freeing the iraqi people and securing our oil supply. Either way, the move was beneficial for the U.S., Iraqi people, and the middle east.)
The issue being debated in that article, I referred to as the inflation storm is about the demand for oil or the lack of it, its coming affects, and the role Iraq will play in that demand. But I also indicated in the article, that just because, Iraq has billions of oil in the ground, that does not mean the inflation problem created by higher oil prices is going to go away. It takes time to put the logistics in place, before a significant amount of new oil can be flowing from the oil fields of Iraqi. It will be several years before the bottom line of profits can reach the coffers of the Iraqi Government. Thus, it will take time, before the dinar increases in value. The question is will the increase in dinar value, keep up with the world's coming inflation rate.

Since our world leaders, have sat on their hunches for years without coming up with some viable alternative fuel to replace oil, it is pragmatic to expect, that it will be at least 20 years or more before crude oil is replaced as the major energy source for the world.
With the oil supply getting lower, and the demand getting higher, what do you think will happen to prices, and its affects on the cost to purchase items?

-- May 30, 2005 7:53 AM ∞

jimmyp wrote:

Tax Consequence Question:
Is there any taxes due from profits realized
once the rise in Dinar value motivates one to
exchange Iraqi Dinars into US Dollars?
Thank you in advance!

-- May 30, 2005 10:19 AM ∞

Sporter wrote:

Shannon,

You have raised a very important point.

-- May 30, 2005 11:13 AM ∞

RON wrote:

Hi all
Tyler I myself think that this you wrote about will cause more demand for dinar.As I have said in a past post,I have a very strong gut feeling that the NID could very likely be the most valueable currency in that part of the world,if not the whole world.Iraq is in the center of word attention,and product demand,and they are just getting started.What we are very lucky to see and be a part of can not be put in words.This may not be the kind of answer you were looking for but just stay on the NIDtrain with the rest of us and you will have a great view.good luck to all.Ron

-- May 30, 2005 12:26 PM ∞

Sara Madgid wrote:

Tyler;

VERY INTERESTING.. I am again connecting the dots, and finding it highly improbable that the Dinar will continue the way it is now.

Your saying, quote, "we just got official word to start acquiring the necessary equipment to start dealing in dinars for contractor payments. Currently we pay out over $120 million per month in USD".

Then you say, quote, "that translates into 146,500,000,000 Iraqi Dinar per month that we will be shelling out".

I think it is unwieldily and unrealistic to implement such huge amounts of Dinars to pay for things, don't you? Your post, combined with these two posts on Investors Iraq lead me to wonder if we are about to see the Dinar peg???

First this post at:

http://www.investorsiraq.com/showthread.php?s=3979d40c90094e5dab529eeacb48c06f&t=5827&page=1&pp=20

New regulations on exiting Iraq with currency

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

Here is a translation concerning the new regulations:

New Regulations to enter and exit the foreign currencies and gold from and into Iraq:

The Central Bank Of Iraq issued new regulations to enter and exit the foreign and Iraqi currencies and gold by the passengers from and into Iraq over the border ports from next month.

An authorized source said that the new regulations allowed to the Iraqi citizen to exit not more than 10,000$ and not more 100,000 ID with him when he leave Iraq to cover the expenses of travel and resident , and also not more than 100 g of gold after an undertake to return it when he come back.

The foreign citizen is allowed to exit foreign currencies not more than the amount which is declared on the foreign transfer document with in one year from the entering date. The foreign citizen can also exit the manufactured gold for the personal use which he had to declare to when he enter Iraq with in six months from his enter.

The amounts of foreign and ID currencies which is more than the mentioned amounts can be transferred by Banks for the importing and foreign insurance after providing the legal documents.

http://iraqiamericancci.org/iacci/n.../new_page_1.htm

Then this comment on the post at:

http://www.investorsiraq.com/showthread.php?s=3979d40c90094e5dab529eeacb48c06f&p=61579#post61579

Comment:

Originally Posted by eosirl2
"Iraqi citizen to exit not more than 10,000$ and not more 100,000 ID with him when"

It saying that an Iraqi citzen can a maxium of USD 10,000 AND an additional amount of Dinar up to the amount of 100,000. Total USD value would equal ($10,000 + (100,000 / Current Exchange Rate 1460)) = (USD 10,000 + $68.49) = USD $10,068.49 at the present rate.

If the rate was to go the proposed rate of $0.10 and as per the condition in the statement. It would be as follows:

Total USD value would equal ($10,000 + (100,000 / Forum's Proposed Exchange Rate 10 dinars per $1 )) = (USD 10,000 + $10,000) = USD $20,000 at the forum's proposed rate.

If the statement read as follows:

"Iraqi citizen to exit not more than 10,000$ [OR] not more 100,000 ID with him when..."

Then you may be looking at a peg of $0.10.

Just an observation....
------

A very good observation. Coupled with what you said here, I think it reasonable we might be looking at a ten cent peg very soon.

Sara.

-- May 30, 2005 12:31 PM ∞

Sara Madgid wrote:

Carl;

Like you, I expect oil to go up and continue to stay high. This is because of what you wrote, because we are increasing our demand for oil and this will outstrip supply rapidly. This is actually not bad for Dinar holders as it means that the commodity that Iraq exports is going to be in demand for quite some time. An older but still relevant article:

World oil and gas 'running out'
By CNN's Graham Jones
Thursday, October 2, 2003 Posted: 1245 GMT ( 8:45 PM HKT)

LONDON, England -- Global warming will never bring a "doomsday scenario" a team of scientists says -- because oil and gas are running out much faster than thought.

The world's oil reserves are up to 80 percent less than predicted, a team from Sweden's University of Uppsala says. Production levels will peak in about 10 years' time, they say.

"Non-fossil fuels must come in much stronger than it had been hoped," Professor Kjell Alekett told CNN.

Oil production levels will hit their maximum soon after 2010 with gas supplies peaking not long afterwards, the Swedish geologists say.

At that point prices for petrol and other fuels will reach disastrous levels. Earlier studies have predicted oil supplies will not start falling until 2050.

Alekett said that his team had examined data on oil and gas reserves from all over the world and we were "facing a very critical situation globally."

"The thing we are surprised of is that people in general are not aware of the decline in supplies and the extent to which it will affect production.

"The decline of oil and gas will affect the world population more than climate change."

According to the Uppsala team, nightmare predictions of melting ice caps and searing temperatures will never come to pass because the reserves of oil and gas just are not big enough to create that much carbon dioxide (CO2).

The Uppsala team say the amount of oil and gas left is the equivalent of around 3,500 billion barrels of oil -- the IPCC say between 5,000 and 18,000 billion barrels.

http://edition.cnn.com/2003/WORLD/europe/10/02/global.warming/index.html

-------

AND, Carl, you are right, they knew about this for some time before going to war in Iraq. But as to whether that was the motivating reason for invading Iraq is debatable.

This excerpt, a little older, shows our demand outstrips supply, stating "we, in essence, need to add 2 million incremental barrels per day, every year" to meet the rising demand for oil (sorry no url, but you could find the magazine if it were that important):

May 6, 2002 9:10pm
From Petroleum Finance Week, May 6, 2002, Vol. 10

The United States is headed for an energy supply train wreck, oil and gas executives warned at two major energy conferences this spring.

"The International Energy Agency projects oil consumption will rise 60 percent in 20 years. So we, in essence, need to add 2 million incremental barrels per day, every year, to meet that - or the equivalent of five Saudi Arabias in those two decades," he explained. "But non-OPEC increases will be limited. Mergers have reduced organic growth possibilities and most companies
are much more disciplined in what they drill."

- Leslie Haines in Houston

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

Carl, you said:

"With the oil supply getting lower, and the demand getting higher, what do you think will happen to prices, and its affects on the cost to purchase items?"

Obviously, like any item where supply is thin, the price must go up and that will affect the rest of the economy. My point was not that your economic viewpoint was invalid, but only that what motivated us to go to war was not solely or primarily oil and economic interests. It may seem like splitting hairs because we end up with both chickens and eggs in the end, but the morality of which came first is important when it is the justification of the taking of human life (men, women and children) daily in the news. It also affects our investment in the Dinar because it deals with the one great obstacle to growth there, insurgents.

The issue boils down to this, when Congress voted to approve going to war with Iraq, were your elected representatives all voting to stabilize the oil supply? Is that what the issue and debate was all about before they approved the measure? It was openly NOT the issue debated in Congress. To say yes causes us to enter into conspiracy theories and imputing motives we distrust to those in power, agreeing with our enemies whose theological position is that our representatives are all satanic (The Great Satan, in fact).

Our enemies' extremist views lead them to automatically assume a conspiracy theory behind the scenes selfishly motivating all our representatives to vote from corrupt monetary desires. Jesus said you cannot serve God AND money (Luke 16:13). Those who say we went into Iraq from monetary motives are in fact saying we are a godless and self-serving people, whose only motives are the god of monetary self-interest, with no care for humanitarian interests or the safety of the world (and our own people, which is a legitimate concern of any people - John 15:13).

As I titled my previous reply "Any higher motives?".. it depends on how you answer that question as to whether you believe the enemy and their justification for taking the human lives of "occupiers" and their "collaborators" (how did that little girl who died in the Marine's arms 'collaborate', by the way?); and it also has bearing on whether you agree that people like Pat Tillman are just 'dumb jocks' being used by corrupt military officers to get you another cheap gallon of gas for your car or boat.

Respectfully Yours,

Sara.

-- May 30, 2005 12:52 PM ∞

JB Smith wrote:

Sara wrote:
"I think it is unwieldily and unrealistic to implement such huge amounts of Dinars to pay for things, don't you?"

But it would appear to be,
exactly what /is/ happening,
and it would appear
that people are getting on just fine,
going about, i assume, with 10K and 25K Dinar notes.
Which is why i asked,
what makes anyone think it should change?

I mean,
e.g.,
say you're an Iraqi
currently paid $5/hr USD.
Now you will be paid instead,
~7300 Dinar/hr.
Now say that the Dinar is suddenly worth a US dime,
(because why again? Because someone says so?),
anyway now you are suddenly being paid
~$730 USD/hr?
I find this equally implausible,
and what does it mean
to the grocer you buy stuff from?
Is that 3,000 Dinar
gallon of milk,
suddenly worth $300 USD?

And,
i may have everything exactly backwards,
for all i know,
i wish i had the economic vocabulary
to express why i'm thinking,
that any abrupt rise in the value of the Dinar,
would be destabilizing and generally,
not a good thing,
if you are an Iraqi.

Still,
i await someone to put me straight,
and possibly tell me some good reason
they have to believe,
that the Dinar should appreciate
against the USD,
if things are working fine
at the current valuation.
.

-- May 30, 2005 5:43 PM ∞

Sara Madgid wrote:

JB;

Try reading up on the pegging of the Iraqi Dinar. Perhaps this link to a post from here will be of help:

http://truckandbarter.com/mt/archives/000266.html#9110

That post is an Iraqi Banker who says to a fellow that he will one day be a rich man.. the reason has to do with the Dinar pegging. I wish I had more time to explain, but I have to run.

Sara.

-- May 30, 2005 8:08 PM ∞

Rommel wrote:

JB,

Let's take your scenario...an Iraqi is working for $5/hr, which translates to {NID}7,300. So let's make that a 40 hour work week and now you're making $200/week, or {NID}292,000/week. Now let's say we peg the dinar to $0.10. You are still making $5/hr, but you have to do the conversion...the value of the dinar has gone up, and your paycheck is going to reflect that value against other currencies (in this case the USD). Your weekly paycheck is still going to be worth $200, but you will be paid {NID}2,000.

JB you also had an earlier question on the same topic regarding the current wage in NID. I can tell you that we pay our janitors $300 every two weeks...that is $3.75/hr. Apparently that is VERY good money to be making over here...but the truth is it varies quite a bit depending on what they do here. For instance, a Colonel in the Iraqi army makes $600/month, whereas an interpreter makes $900/month! There is so much demand for someone who can speak english, whereas anyone can be promoted through the ranks of a brand new army. I asked our janitor/temporary interpreter what he thinks the average wage is outside of the post, and he figured it was right around $10 to $20/week. In any given family you may have 2-3 working males bringing home maybe $40, maybe $50/week into the family. Since everything is so cheap here, yes Mrs Iraqi might be bringing with her {NID}50,000 with her grocery shopping, but that would equate to you or I carrying a $20, a $10 and 4 $1's in our back pocket.

You did raise a good question though, and I can easily look this up on the web, but what do some of our economists think is the biggest benefit to pegging the dinar? (besides the obvious walk of glory to the bank as I cash in...=)

~Tyler

-- May 31, 2005 2:29 AM ∞

allen wrote:

Tyler said;
Let's take your scenario...an Iraqi is working for $5/hr, which translates to {NID}7,300. So let's make that a 40 hour work week and now you're making $200/week, or {NID}292,000/week. Now let's say we peg the dinar to $0.10. You are still making $5/hr, but you have to do the conversion...the value of the dinar has gone up, and your paycheck is going to reflect that value against other currencies (in this case the USD).

Your weekly paycheck is still going to be worth $200, but you will be paid {NID}2,000.
--
So if the Dinar appreciattes,and gains value
and pegs,etc the Iraqi really doesn't benefit from this?

What you are saying is that ,Hey Mr. Iraqi remember that 292'000 dinar you were making last week, that was equal to $200 USD
Well it just pegged at $.10, and is now worth $29'200 USD
All of us speculators are rich,but your salary will be converted to the USD amount previously recieved
You still make the same $200 weekly

I am sure this will go over big in Iraq
What is the benefit to Iraqi's in a scenario like this ?

Is there anyone on this forum that knows anything about economic realities?
Is this how currency increases really work?
This doesnt seem right?

confused
Allen

-- May 31, 2005 9:37 AM ∞

Ed wrote:

I just saw this on the Investors Iraq forum, thought you may find it interesting.

Ed

Posted Yesterday on another Forum. Are there any opinions on whether this is a significant development?

"I finally decided that I could offer a unique insider's view of what goes on here in Baghdad, given my current position. I'm a contracting officer with the US Air Force, which gives me direct contact with many Iraqi vendors and contractors here in Iraq. I hope that I can offer a small window to the "front lines". I'm no economist, but I am privileged to be a direct part of the economic revitalization efforts that continue to go on here. And as a current Dinar investor I have a certain vested interest that this economy continues it's path to stability...=)

Some quick notes that may or may not have a news story attached to them somewhere on the www, we just got official word to start acquiring the necessary equipment to start dealing in dinars for contractor payments. Currently we pay out over $120 million per month in USD. Although we have no timeline to officially implement this program, we are making our vendors aware that within months we will be paying out mostly in dinars. So let's assume that we pay out approx. $100,000,000 per month in USD, that translates into 146,500,000,000 Iraqi Dinar per month that we will be shelling out. ... what are your thoughts on this? How do you think this will effect the economy?"

-- May 31, 2005 10:46 AM ∞

Sara Madgid wrote:

"Could the petroleum joyride -- cheap, abundant oil that has sent the global economy whizzing along with the pedal to the metal and the AC blasting for decades -- be coming to an end? Some observers of the oil industry think so. They predict that this year, maybe next -- almost certainly by the end of the decade -- the world's oil production, having grown exuberantly for more than a century, will peak and begin to decline. And then it really will be all downhill. The price of oil will increase drastically. Major oil-consuming countries will experience crippling inflation, unemployment and economic instability. Princeton University geologist Kenneth S. Deffeyes predicts 'a permanent state of oil shortage.' According to these experts, it will take a decade or more before conservation measures and new technologies can bridge the gap between supply and demand, and even then the situation will be touch and go." Learn more in Wired News.

http://www.wired.com/news/business/0,1367,67679,00.html?tw=wn_tophead_8
----

High demand for oil will make the Iraqi Dinars valuable and worth holding.

Sara.

-- May 31, 2005 11:35 AM ∞

GEORGEWOOD wrote:

Newbie - just ran into this site. Where is the best place to buy the ID and how are the prospects for making big money looking. I want to buy a couple million - good idea?

-- May 31, 2005 4:10 PM ∞

Uday wrote:

I am curious to know what we will pay for Iraqi oil once as everyone is expecting Dinar to be pegged higher than what it is now? Wouldn't it be expensive for US to buy Iraqi oil at new dinar rate? How would that help US economy? Just curious.

-- May 31, 2005 8:10 PM ∞

Sara Madgid wrote:

Uday;

You said:
"Wouldn't it be expensive for US to buy Iraqi oil at new dinar rate?"

The price of oil will remain fixed at the USD amount it is now, and the US will continue to buy it with USD for the present rate. The value of the Dinar will not affect the price of oil which we are currently paying and which is set by the marketplace based upon production and supply and demand dynamics. Pegging will just bring Iraq more into line with the marketplace and give a more realistic value to the currency. The Iraqi Dinar is undervalued presently.

Sara.

-- May 31, 2005 9:15 PM ∞

Sara Madgid wrote:

Ed;

Investors Iraq was quoting this board.
The post you quoted was originally posted here on this board.
The url to it is here:
http://truckandbarter.com/mt/archives/000502.html#11444

Our comments about it are posted after Tyler's post. Read from that post forward.

Sara.

-- May 31, 2005 9:21 PM ∞

Sara Madgid wrote:

Allen;

You said:

"So if the Dinar appreciattes,and gains value
and pegs,etc the Iraqi really doesn't benefit from this?"

Iraqis do benefit from this. They are getting a REAL value to their money, not an arbitrarily fixed value. Their country is standing on its own two feet in the world, independently valued and internationally accepted on its own economic merits.

You are speaking of the Dinar APPRECIATING and GAINING IN VALUE. But I don't think it is gaining in value when it pegs. It is merely finding its true value. Right now it is undervalued. Is the currency of the oil rich country of Iraq really worth 1460 IQD to one American dollar? Get real. All it does when it pegs is put it on a REAL value level by letting the marketplace decide what the true value of it is. When they no longer protect the Iraqi currency (which they have done to keep it stable) and allow it to openly trade on the open market for what people will pay for it, it will find its own REAL value, not the "book value" they have for it now. It is undervalued, in my opinion, which is a factor for why you should buy it, GEORGEWOOD. (And no, I don't make any money from your buying it, and no, I don't know a seller to recommend, personally.)

Allen, you also said:
What you are saying is that, Hey Mr. Iraqi remember that 292'000 dinar you were making last week, that was equal to $200 USD Well it just pegged at $.10, and is now worth $29'200 USD
All of us speculators are rich,but your salary will be converted to the USD amount previously recieved
You still make the same $200 weekly I am sure this will go over big in Iraq
What is the benefit to Iraqi's in a scenario like this ?

The benefit is that their currency has a REAL value in the world. Their Dinar comes to its actual worth that in the real marketplace. They still make the same $200 weekly, only the amount of Dinars is not arbitrary but based on real world economics. That is because the marketplace determined its true value and it is a solid, internationally accepted value. At the moment, no one knows the real value. It is arbitrarily being kept where it is, as it is not trading independently on the open market. (So you know what I mean, a while back I phoned a bank in a nearby city. This city has over a million people in it, and the lady I spoke to was the currency buyer for the head branch of one of the largest city banks. She told me that the Iraqi Dinar is a closed currency and that you could not obtain them at all. She swore to me that I simply could NOT get any, as it is not an openly trading currency and acted like I was nuts to ask her for them. A friend of mine talked to her just last week when he was concerned that the Central Bank of Iraq might stop all Dinar trading, and he asked about obtaining Dinars, and she said the same thing to him. Do you know many BANKS actually trading Dinars? My friend eventually ordered some from the official seller on Investors Iraq and they came direct from Jordan. Jordan gets them direct from Iraq and can legally sell them to us because of the Presidential order, quoted link below.)

The best illustration is to think of it like a piece of real estate. Some people think your piece of real estate is worthless because it is bottomland, others say that the extra water coming from the mountains will make it great for crops. No one knows the true value of the land until they put it up for sale and see if the marketplace will give them a buyer, and for what price. The Dinar is NOT like other openly TRADING currencies, because to increase in value those trading currencies need a fundamental change in the underlying dynamics of the money (such as finding their oil reserves at four times what they thought they were, for instance.. grin.). If they suddenly have a greater potential GDP then the marketplace will reflect that change, just as a mall with a Walmart in it going in across from your piece of land will affect how desirable it is. Once the marketplace takes that into account the new value is placed and the land (currency) is worth more. That kind of adjustment is not happening with the currency now because it is not trading openly on its own merits.

You said:

"Is this how currency increases really work?"

In Iraq's case, it is unique because it is not a currently independent and openly traded currency. This means the value is not based on market realities as they affect the value of the Dinar. I believe when it is subject to real market realities, it will "peg" or come into line with those realities, and not be worth 1460 IQD to one USD. It will not be APPRECIATING in value, but merely FINDING ITS REAL VALUE. For the country to stand on its own, it must not remain protected but find its place in the real world. This will make a strong country for Iraq with a real value to its assets and currency. I do not believe the current value of 1460 IQD to one USD reflects the real value of the currency or the strength of the country's reserves. I believe, therefore, that it will peg higher. And THANK YOU President Bush for signing a Presidential order so that we have the opportunity to buy the IQD before it finds its real value in the world. :) A once in a lifetime opportunity, indeed!

http://truckandbarter.com/mt/archives/000502.html#10160

Sara.

-- May 31, 2005 10:56 PM ∞

Ed wrote:

Thanks Sara,

Ed

-- May 31, 2005 11:59 PM ∞

jara1215 wrote:

Allen wrote, So if the Dinar appreciattes,and gains value
and pegs,etc the Iraqi really doesn't benefit from this?
Its about value outside Irag. Argentina is a good example. In the 1990's they pegged to the US dollar 1-1. While the rest of south american currencies fluctuated and devalued Argentines were traveling and vacationing all over the continent because there peso was worth 3x every one elses. Then they crashed and now the currency floats at approx. 2.90 peso to the US dollar. So when I am in Argentina every thing costs me 1/3 what my dollar would buy in the states. It doesnt effect the prices per se in Argentina. When i buy plums in the usa its 2.99lb in Argentina its 2.99 a lb but my dollar is worth 2.90 so the cost to me is $1.00 in my eyes. Hope this helps

-- June 1, 2005 1:15 AM ∞

GEORGEWOOD wrote:

Can someone please refer me to a reliable source for buying the Dinar?

Thanks.

-- June 1, 2005 8:09 AM ∞

Sara Madgid wrote:

Jara;

That helped. Thanks! As you can see, when the Argintine money was pegged to the US dollar, it stayed stable, as the Iraqi Dinar is doing now. But when it had to stand on its own, it fell to a tiny value because the market determined it was not worth a one to one value to the USD. It will be interesting to see if the Dinar ends up staying at 1460 or so IQD to the US dollar, goes up or goes down, won't it? Pegging (or immediate market forces) aren't the only factor which will affect the Dinar's value in the longer term - as Carl pointed out, being assimilated into the GCC would also affect its value - and there are other factors I can think of which could play a significant role, too.. but I think pegging to the market is a very significant factor.

Sara.

-- June 1, 2005 8:18 AM ∞

Mike wrote:

Sara,

I'm fairly new to this forum. What are your credentials? Thanks.

-- June 1, 2005 8:36 AM ∞

Sara Madgid wrote:

Bush stresses patience with efforts abroad, more urgency at home
By Richard Benedetto and Oren Dorell
USA TODAY

WASHINGTON � President Bush said Tuesday that he remains optimistic that democracy will take hold in Iraq despite escalating violence there. He said the Iraqi government is �plenty capable� of eventually defeating insurgents and maintaining its own security.

�Our strategy is very clear. � We will work to get them ready to fight, and when they are ready, we'll come home,� Bush said in a 50-minute news conference. �I'm pleased with the progress.�

After a letup in violence earlier this year, insurgents in Iraq have stepped up attacks, killing more than 760 people in the past month, according to the Associated Press. Reuters reported that 140 car bombs exploded throughout the country in May, a huge increase from 2004 monthly figures.

Bush attributed the increased violence to �frustrated and desperate� terrorists who fear democracy and kill innocent people.

Human rights criticism.

Bush dismissed as �absurd'' charges by Amnesty International, a private human rights group, that the United States is abusing detainees at Guantanamo Bay, Cuba, where terrorism suspects � most of them caught on Afghan battlefields � are being held. Amnesty cited reports from prisoners saying they were systematically abused there.

Bush said thousands of foreign detainees have passed though Guantanamo and all charges of abuse have been investigated. He also criticized Amnesty. �It seemed like to me they based some of their decisions on the word of and the allegations by people that were held in detention, people who hate America, people that have been trained in some instances to disassemble, that means not tell the truth,� he said.

http://www.usatoday.com/printedition/news/20050601/a_bush01.art.htm

-- June 1, 2005 9:12 AM ∞

Sara Madgid wrote:

Why, Mike?
Is what I have said not making any sense to you?
Will it make MORE sense if I admit that I have some credentials behind my name?
Do you need proof of my membership with MENSA to prove that my views have merit?
Do the most credentialled and brilliant persons ALWAYS make the best decisions possible in the situations they face?
I'm not sure the second in command at the FBI (Deep Throat) made the best decision in how he handled what he knew about Watergate, even though he had a great deal of credentials and a powerful and influential position.
I just don't think my credentials are relevant.
Let's stick to the facts so you can evaluate and weigh it in your own mind.
The investment speaks for itself.

Sara.

-- June 1, 2005 10:53 AM ∞

Sara Madgid wrote:

Jara;

You said:

"In the 1990's they pegged to the US dollar 1-1. While the rest of south american currencies fluctuated and devalued Argentines were traveling and vacationing all over the continent because there peso was worth 3x every one elses. Then they crashed and now the currency floats at approx. 2.90 peso to the US dollar."

I think the Powers that Be learned a lesson from this. Not to OVERvalue a currency and so cause a crash when you unhook it from the stability of the US dollar. You said that the Argintine peso was worth 3X what every one else's was. Then it "crashed". That is, when it became unhooked to the US dollar at the 1-1 rate it found its value was in line with the other currencies in that area of the world (which was 1/3 of the USD, settling out at 2.90 pesos per US dollar). It was an artificial increase in the value of their money that they enjoyed when they had a peso worth 3X what everyone else's was worth. In the case of the Dinar, by starting so very UNDERvalued, it can only go UP when they unhook it from the US dollar. Even if it only initially sells on the open market for ten cents (which will be still undervalued), it will be an increase in value.

Sara.

-- June 1, 2005 12:16 PM ∞

Sara Madgid wrote:

All progress against the insurgents are continuing steps, one at a time, toward a prosperous, peaceful, free Iraq.
---

Wanted Militants Captured in Iraqi Raids
Wednesday, June 01, 2005

BAGHDAD, Iraq � U.S. soldiers captured four wanted militants in a number of separate raids since Monday, including a former spy in Saddam Hussein's secret service believed to be financing several terrorist groups in western Baghdad's Ghazaliyah district, the military said Wednesday.

The former spy, whose identity was not revealed, also was suspected of working as a cameraman for a terrorist group, apparently filming attacks on coalition forces that later were posted on Internet sites or distributed to the media.

An ongoing massive Iraqi-led offensive dubbed Operation Lightning is aimed at curbing the constant violence. According to Iraqi government figures obtained Wednesday, 670 Iraqis were killed in May, a 38 percent increase from April, when 485 died. The Iraqi figures do not include U.S. troops.

Some 297 insurgents also were killed in May, an almost 400 percent increase from the 60 militants killed in April. U.S. forces killed almost 140 during two May offensives in western Iraq, while many others were bombers.

The government did not provide figures for every year or the months before April.

Foreign extremists, many the government and U.S. military say enter Iraq from neighboring Syria, are believed to be a small portion of the Sunni-dominated insurgency, although they are blamed for some of the deadliest attacks, particularly spectacular bombings.

U.S.-led forces continued launching strikes against foreign fighters near the Syrian border Wednesday, with helicopters destroying two buildings near Husaybah, 200 miles west of Baghdad, after ground troops came under small-arms attack, the military said.

There were casualties among the insurgents, but the number was unclear, the military said. Seven people also were detained.

http://www.foxnews.com/story/0,2933,158244,00.html

-- June 1, 2005 2:59 PM ∞

Michael wrote:

Wow Sara, wouldn't it be so great to wake in the morning with the dinar worth 2.90 dinar to the usd.. Keep up the good research Smart Lady :)
michael

-- June 1, 2005 3:59 PM ∞

Sporter wrote:

The Iraqi Central Bank Authorizes 8 Arab and Foreign Banks to Work in Iraq
An official source in the Iraqi central bank confirmed that the number of Arab and foreign investment banks, which were authorized to work inside Iraq, has reached 8 banks and that there are many other applications by international banks, under study.

The source added that the bank has received various applications by foreign and Arab banks. Before authorizing them, they have to be subject to the laws regarding the work of investment banks and assuring that they do not contradict with the local banking activities, provided that the applicant should be subject to comprehensive and united control by the banking control authority in its mother country and the number of the working branches all over the world, especially in the capital Middle East agent, in addition to the role of the bank in the developing and transitional economies. A summary of how to use technology to support the strategy of the Iraqi banking activities and the possibility of training Iraqi employees should also be submitted.
He pointed out that precautionary procedures should be taken to prevent the entrance of unwanted money and money laundry inside Iraq or using it in terrorism issues. The investment bank should submit a number of documents, including the list of the main owners of the foreign bank or the mother bank and another list of the names of the affiliate companies that connect the investment with the mother company, the location of their incorporation, an authorization of establishing the company signed by an authorized official authority, which shows the framework of the company ownership and the law that governs it, a specification certificate that specifies the name of the specific branch manager, his permanent place of residence, his nationality and work or profession, as being the highest employee in the bank in Iraq and the one responsible for running the bank activities, in addition to a statement that states his detailed qualifications and the source and amount of deposits, which would be used in financing the Iraqi investment. Any monetary fines or any other fines that are posed by the foreign control authority against the applicant should be disclosed.
The source pointed out that there are conditions that the central bank makes sure of, regarding the conditions of the mother country to fight money laundry or terrorism or any other illegal activities and stating that the mother bank executes the recommendations issued in the money laundry law and assuring that a letter would be received from the foreign control regarding the condition of the applicant and that he is subject to actual united control.
The authorized banks are: the international �Standard Chartered� Bank, the Middle East HSBC Bank, Kuwait National Bank, Arab Banking Institution, Arab Jordanian Bank, the Bahraini United National Bank, Al Iskan Bank for Trade and Finance and the Turkish Ziraat Bank, in addition to the 10 banks, which were authorized during the last two years.
As for the objectives that the Iraqi central bank is seeking to achieve, an expert pointed out that the foreign banking investment assist in the flow of additional money to Iraq, which can be used by all sectors in development projects in addition to introducing modern technology, which Iraq does not possess and training Iraqi cadres, in addition to creating competition between Iraqi banks and investment banks, in a way that forces the regional banks to cope with such banks and work in their developed manner.
Al Sharq Al Awsat

http://www.almendhar.com/almendharen/details.aspx?nID=3499

-- June 1, 2005 4:59 PM ∞

Sporter wrote:

GCC currency peg to gold urged
Posted: Tuesday, May 31, 2005

Sharjah

The GCC should peg its proposed currency to gold rather than the American dollar or euro, in view of the currency fluctuations in the international market, says an expert in currency and gold, according to a media report.

Dr Ferdinand Lips told a Dubai gathering that the history of gold has shown that despite its ups and downs the yellow metal has proved itself to be a 'safe and tangible investment option. The value of an ounce of gold is far greater than currencies - that are being devalued by the day.'

Lips was delivering a lecture titled 'Oil for gold or oil for paper? Financial stability, gold and the ongoing rise in commodity prices' organized by the Gulf Research Center (GRC), said a report in the Arab News.

'Being in the midst of a global currency devaluation scenario, it is worth noting that while oil is the king of commodities, gold is the king of money,' Lips said, noting that oil is under-priced and that oil producers are not getting real value by pegging it to the dollar.

The lecture, attended by prominent members of the banking and finance industry, dealt with how currencies, investments and every crucial economic factor in the GCC countries are dependent on the US dollar, which shows increasing signs of structural weakness. The Gulf countries, Lips said, could escape potential financial disaster by looking at certain other investment alternatives.

Lips is the author of 'Gold wars: The battle against sound money as seen from a Swiss perspective.' He said the GCC banks could do well to set aside a certain percentage of their reserves in gold and learn from the European Central Bank's mandatory 15 percent gold reserves rule, the report said.

Currently, the UAE and Qatar have sold all their reserves, while Kuwait has lent gold and Saudi Arabia has low reserves of some 200 tons. Lips also suggested that a monetary institute be set up to create greater awareness of money and emphasize the crucial need to return to 'solid money.'

'Gold is the insurance policy. When the rest of the world will go down on the paper money system, invest at least one percent in gold as insurance,' stressed Lips, adding that today's depreciation limits the purchasing power of paper currencies, whereas gold is a highly liquid asset. 'Returning to gold as a standard will also put a limit to what governments can do,' he said.

http://www.tradearabia.com/tanews/newsdetails_snECO_article87911.html

-- June 1, 2005 5:01 PM ∞

Sara Madgid wrote:

The post I referred JB to recently, above, said just about that value, Michael.
Here is that url again:

http://truckandbarter.com/mt/archives/000266.html#9110

It said there that the Managing Banker for the Rasheed Bank gave these answers:

Q. When do you think it will peg?
A. Could be anytime soon. It could take one year or two to be strong.

Q. How much do you think it will peg at?
A. Many of us feel that it will start at where it left off before the war around $0.32.

If this is so, your 2.90 to the USD, or approximately 3 to 1 ratio is correct. :)

It is just a matter of time and patience.. and, as the Bank Manager said:

Q. Do you think me buying dinar is a safe investment?
A. You my friend are going to be a very wealthy man someday.

Michael, how bad can it be that the US ends up with a few more thousand millionaires? The more the merrier!! :)

I think it will contribute toward a lot better retirements, and also help a lot of business ventures as people invest their new found wealth back into the US economy. And Uncle Sam will have more revenue coming in from the legitimate taxes this fresh money will one day make. I don't see a downside for the government or for the investors.. :) The only ones bellyaching (sour grapes) will be those who never got on the train in the first place and thought us all crazy to invest in Dinars in the first place.. in other words, the ones who didn't think Iraq would ever win its freedom and had more confidence in the insurgents, our enemies. I suppose it takes a measure of faith to believe in freedom over oppression, and fight for it. Faith in God, faith in the human spirit and the will to be free. Every time I hear of another attack against innocent Iraqi military or police personnel, I think of them and am grateful for their spirit and pluck. They perservere, and they will win against this enemy, and get for themselves and their loved ones freedom and a better Iraq. I think in the end, they too know that it will have been worth the fight. May God bless them as they, with our military's help, secure their country in a fight for their freedom and democracy. As President Bush said today, "What the insurgents fear is democracy, because democracy is the opposite of their vision," Bush said. "Their vision is one where a few make the decision for many, and if you don't toe the line, there's serious consequences."

I trust the vision of a free, democratic Iraq where the people rule through their representatives instead of a few making the decisions for the many will be worth all efforts they have given or will give.

Sara.

Full article:

Insurgents Fear Democracy, Says Bush
LAST UPDATE: 6/1/2005 6:13:33 AM

United Press International

Iraqi insurgents fear democracy, and that is why they are attacking innocent people, President George Bush said Tuesday.

The president told a White House news conference he was confident that Iraqi troops would be up to the task of defeating the insurgents.

"What the insurgents fear is democracy, because democracy is the opposite of their vision," Bush said. "Their vision is one where a few make the decision for many, and if you don't toe the line, there's serious consequences."

"The Iraqi government is plenty capable of dealing with the insurgents," Bush said.

"Coalition forces were helping train and equip the Iraqi military and police, and the United States would continue with that effort," he said.

http://www.woai.com/news/national/story.aspx?content_id=A0990776-EDB5-4E93-9BA8-E20A2BA2A683

-- June 1, 2005 5:41 PM ∞

Uday wrote:

Thanks Sara for the reply. I am just trying to understand how US benefits from this Dinar pegging? It appears to me that whatever we buy from Iraq will be expensive once it's(Dinar) finds it true value so to speak. TOday 1 US$ buys 1460 dinars worth of goods, tommorow 1 US$ will buy less than 1460 dinars worth of goods?
Is this making any sense? Currently US$ is weaker against all major currency and that is helping US exports by lowering value of the other countries holding of US$. They can buy less in US with US$ but they can sell profitably?

-- June 1, 2005 5:50 PM ∞

BOB wrote:

Sara:
Your credientials are totally irrelivent to me, your posts are intellectual and informative and if you are a hi-school dropout, then you are still doing great. You and Carl are our leaders and if anyone criticizes you, then they are criticizing me. So, please keep researching and informing us.

I have read everything since Nov-04 so I am probably as knowledgeable and anyone and I firmly believe that we are on the right track and are destined to reap some real benefits.

Michael has made some good posts recently. Is this the same Alabama Michael who said he was leaving T&B.

I am 100% behind you magnificant fellows who do this research and keep us informed.
lazy rascals of your findings.

-- June 1, 2005 10:56 PM ∞

Sara Madgid wrote:

Uday;

You asked:
"I am just trying to understand how US benefits from this Dinar pegging?"

There are tangible and intangible ways the US can benefit from a prosperous, free and democratic Iraq that has its own place in the world. The more freedom, the less threat of war, for instance. It isn't just the monetary benefits the US will be gaining in this situation. Having a peaceful and free people in the Middle East who are not under a despotic dictator like Saddam is a good thing for the entire region.

You said:
"... whatever we buy from Iraq will be expensive once it's(Dinar) finds it true value so to speak. TOday 1 US$ buys 1460 dinars worth of goods, tommorow 1 US$ will buy less than 1460 dinars worth of goods?"

Yes you are right, the USD buys more today than it will buy after it pegs.
This quote from an article about the gas situation shows you how the current situation is a problem in Iraq:

First Published 2005-05-20
"Smugglers can make up to 12,000 dollars per tanker truck as gasoline sells for about 2 cents per litre in Iraq, but for up to one dollar per litre in Jordan and Turkey."

That is from the middleeastonline.com site (dashes between the words middle, east and online) with the ending of /english/?id=13556 if you are interested in reading the entire article. (Obviously this has been posted here before because this post is rejected when I post it and it says this is a duplicate post, but I am here quoting it for reference.)

Obviously, they won't be able to make 12,000 dollars per tanker truck on gasoline anymore once the Dinar pegs precisely because one US dollar will not buy 1460 dinars worth of goods. But it isn't fair for the price to remain artificially low to the Iraqis who are suffering shortages because of smugglers like this. TWO CENTS a litre for gas is hardly market value, this is out of whack with the marketplace and must not continue but must come into line with the real world sometime. (Wouldn't that be a nice price to pay yourself at the pump??)

You mention the situation with the weaker US dollar currently when you posted:
"Currently US$ is weaker against all major currency and that is helping US exports by lowering value of the other countries holding of US$. They can buy less in US with US$ but they can sell profitably?"

True, many people were running from the world standard for currencies, the US dollar, to the Euro. However, with the double whammy rejection of the EU constitution by France and then the Dutch, that could change and people could run back to the US dollar like a dog with its tail between its legs.

Currently, the situation of the US currency being diminished in power has indeed caused export markets to grow and imports to be more costly. As far as the situation with Iraq, though, I don't see this being a big concern because they are not dependant on the US for any essential goods. BUYING from the US is not a top priority for the Iraqis, and they do have an easily sold commodity in oil so that money coming out of the oil wells is enough to pay for whatever they do wish for on the world market. Increasing production (oil and other export commodities) will make them have even more money to purchase more goods. So the health of their economy rests on peace and exports (including oil), not the ability to import from the US its goods.

Once the Iraqis get to the point of defending themselves and there is a general defeat of the insurgents so that the threat level is more like it is in the example of Saudi Arabia whose forces are trained (I liked President Bush's comment today in an article quoted a few posts back of "The Iraqi government is plenty capable of dealing with the insurgents"), the country has the potential to become very wealthy. How does the US benefit? Of course, one good benefit is that the US gets a reliable source of oil and more peace in the region and thus in the world (any cop likes his beat peaceful and law-abiding, and as that is the role the US has in the world, this is very good thing). How do the Iraqis profit? They get a free and democratic country which brings them wealth and the good life for them and their children. How do you benefit.. :) You get your Dinars increased in value for helping the Iraqi economy out when it was down. You invested in their future and help make their dreams closer to reality, and in turn, the increase of the value of the Dinar helps you out with yours. It's like that Bible verse says, 'as you sow, so shall you reap'.. :)

Sara.

-- June 1, 2005 11:14 PM ∞

RON wrote:

Good posts gang,thanks for the indept study and work.Ron

-- June 1, 2005 11:53 PM ∞

allen wrote:

Sara said;
In Iraq's case, it is unique because it is not a currently independent and openly traded currency. This means the value is not based on market realities as they affect the value of the Dinar. I believe when it is subject to real market realities, it will "peg" or come into line with those realities, and not be worth 1460 IQD to one USD. It will not be APPRECIATING in value, but merely FINDING ITS REAL VALUE. For the country to stand on its own, it must not remain protected but find its place in the real world. This will make a strong country for Iraq with a real value to its assets and currency. I do not believe the current value of 1460 IQD to one USD reflects the real value of the currency or the strength of the country's reserves. I believe, therefore, that it will peg higher. And THANK YOU President Bush for signing a Presidential order so that we have the opportunity to buy the IQD before it finds its real value in the world. :) A once in a lifetime opportunity, indeed!
----
to Sara and all

Everyone needs to understand 'pegging' the dinar is much different than 'the Float'

When you 'Peg' a currency you need to have the money supply equal to the USD in reserve
or currency in circulation balance with Iraq's reserve USD.

As it stands there are ;

NID in circulation from IMF report (trillions)

IMF/Iraq currency issued;(with projections for 2005)

6/30/04 7'003
12/31/04 9'000-11'000

3/31/05 9'700-11'800
6/30/05 10'400-12'700-projected NID in circulation end of June 2005

9/30/05 11'100-13'600

http://www.imf.org/external/np/loi/...rq/01/index.htm

Iraq(CBI) at present has $6-8 Billion in Fed Reserve NY account
the 10'400 Trillion NID(@1460) end of June projection
would equal an apprx: $7'123 Billion USD value
for money supply/in circulation

For Iraq to Peg the NID at $.10 they would need
$1'040 Trillion USD in a reserve account

other amounts as $.34 etc
$3.4 Trillion USD in reserves

The realities of the 'money in the bank' are just not there for these amounts is evident

It is much more realistic, That the NID will 'open' in a 'Float' @ 1460 and let the
---> market decide the value.

That is one way Iraq could go

Another is to revalue and reissue new currency
(reduce the money supply units) to equal the fed reserve account and 'peg' the dinar at this amount
(I really hope they do not choose this route)

example:

new issues and revalue @

20 billion units dinar at .34
would equal $6.8 Billion USD

just throwing some economic realities out there

Personally, I am hoping for an opening of the dinar in a 'float' regime :) as the Peg at this point in numbers above are not within the realm of reality or realistic considering the total amount of NID in circulation

Allen

-- June 2, 2005 12:00 AM ∞

chromeman wrote:

There is someone on this board that is responsible for holding us together with a common interest. It�s not just about money but also a desire to do what is morally right.
Knowledge of the events and explanations of how things work is what Sara Madgid is also very good at. I sure hope you are able to continue helping us for a long time to come. I know you have sacrificed many hours of your time in preparing your posts, especially the last few days. I for one, have benefited a good deal by what you have pasted on. Sara, I wanted to say thanks so many times past. I guess this is a little catch-up.

-- June 2, 2005 2:12 AM ∞

Rommel wrote:

"There is someone on this board that is responsible..."

Here here!

Thank you Sara for all your hard work. That is one reason why I joined this board recently...=)

On to other news, did anyone read about Botswana's devaluation of the Pula by 12%? I find it interesting since we are looking at an exact opposite of what is happening in Iraq. Here's a snippet:

"It looks as though the rationale behind this is the realisation that the economy is slowing and more needs to be done about it," said Standard Chartered's Africa economist Razia Khan. But it will have a huge impact on inflation and after last year's devaluation it will hit confidence in the exchange rate, which may be difficult to restore in the future."

http://english.aljazeera.net/NR/exeres/D40A13B2-8A67-420B-ADF7-74D20CFB4860.htm

I know it's not Iraqi news, but its interesting to see what could happen once the NID gets a good foothold against the world market.

~Tyler

-- June 2, 2005 5:07 AM ∞

Carl wrote:

Credentials
At this period of my life, I have learned to place more value in how a person speaks and acts, than any school or officially designation.
I beleive that many on this board have come to recognize that knowledge does not equate to wisdom.
I for one have dealth with a lot educated idiots in my profession, and was always amazed they could find their way to the same job site everyday. Some of those, had more initials either before or after they name, than the actual spelling of their name. Most were very sure you knew they had creditials, as if that elevated them in your eyes.

Someone ask about Sara's credentials. I suppose, they were inquiring because if she had some type of MBA, PHD, etc initals attached it would make her post more reliable and meaningful. Then again, maybe they just wanted to know for no particular reason.
These are the credentials that I see in Sara's post.
She is a "Lady" who first of all is obviously well read, and I am most certain well traveled.

She is someone who can carry a conversation on just about anything you wish to discuss, without saying; "Like you know", "Like he's so dreamy",or "American Idol is the best show in the world", and actually has a intelligent light behind those eyes.

She believes in her faith and has strong convictions about it. She is rare, in that she actually puts into action what she has faith in.

She is a straight shooter, and you do not have any problem understanding what she is trying to get across to you.

You may not agree with her on issues, but that is OK with her. She loves a good debate, as long as it is done fairly.

She has a strong sense about fair play, and detest anyone being deceptive or using profanity.

She is sensitive about what she says sometimes,so uses her words carefully, so the emotion she feels about something will not interfere, with what is being said.

She is someone who loves her husband,family and America dearly. She has her guidelines of what is right and wrong. Step over those, and you don't have to second guess which one.

She develops loyalties to her friends and will fight for those friends regardless if she has to fight alone.

She believes in our American Government,our leaders and the American soldier. She give strong support to what they are achieving in Iraq.

She is most of all proud that she is an American, as she feels we are the most helpful of all nations to the world.

She has faith the Iraqi people will achieve their goal of becoming a strong viable nation. That their nation will have great influence on the middle east and on the world's economic playing field.

She believes her investment in the Iraqi dinar was a wise move. That over time it will increase in value, and some of us will actually meet face to face someday to celebrate our decision to hang on.

She is someone who I am proud to have on the board, and someone who has displayed guidelines of fairness, and has given example after example to follow, when another wishes to express their thoughts about any issue.

I have proud to have interacted with a great soul about Iraq and world issues.

But best of all, I am proud to have such a lady with credentials that really matter, that I can call "friend".

Sara, your post are very time consuming, very well written and though out. You are and have been a very valuable asset to this board.
I wish to say, "Thank You" for your continued contribution to the readers of this board.

-- June 2, 2005 9:34 AM ∞

shannon wrote:

I also agree with Carl. I have read everyone's posts too, over the past months. Not much of a talker myself, or writer, I have been a silent observer and greatly appreciate Sara's posts. Thank you and thank all of you for your input, for the quiet people to read and learn from.

-- June 2, 2005 10:07 AM ∞

Sara Madgid wrote:

Thanks so much Carl, Chromeman, Bob, Rommel, RON, shannon.. and the rest of you that appreciate the work I and others do on the posts. That was a wonderful tribute, Carl, and I am also glad to call you my friend. :)

I have also learned much from the postings on this board, and I had no clue about the GCC before I came here and heard what you, Carl, had to say about it. I now think that Iraq could easily join the GCC and that it could be a great value addition to the Dinar and the future of the economy of Iraq. It does look like Iraq would easily 'qualify' and be welcomed by the other GCC countries at some point in time in the future. :) What other currency has so much potential and support? I don't think any other currency does. We stand on the threshold of a very unique opportunity with the potential from the Iraqi Dinar. I can only say that President Bush making it possible to buy Iraqi Dinars as though we were Iraqis has made possible a lot of good for both us as investors, and Iraq. :)

Allen, thanks for your post. You said:
"It is much more realistic, That the NID will 'open' in a 'Float' @ 1460 and let the ---> market decide the value. "

And that is my view of it, too. It must become subject to REALITY sometime and stand on its own. When it does, it will find its true value and I can only see it going UP in that case.

All of you, thanks for travelling the Dinar train and caring. Our contribution toward helping the Iraqi economy by our small investments may seem miniscule, but remember that saying...

For want of a nail the shoe was lost,
For want of a shoe the horse was lost,
For want of a horse the rider was lost,
For want of a rider the battle was lost,
For want of a battle the kingdom was lost,
And all for the want of a horseshoe nail.

We may just be contributing only a tiny nail to the cause, but it helps for the Iraqis in some small way and may contribute to doing some larger good for them and their situation. I hope it makes some difference in the war on terror and helps the Iraqi people toward becoming free. :)

Sara.

-- June 2, 2005 10:31 AM ∞

Mike wrote:

Sara,

I have enjoyed reading your insight into the subject of the Dinar. Your knowledge led me to think that perhaps you are a sort of official moderator for the forum and therefore work in the currencies field. I was right. You have WORKED at this, perhaps not as a profession, but you couldn't be more knowledgable if you had, it seems. No insult was intended by the question of credentials, and I certainly don't have any.

Thank you for your help.

Mike

-- June 2, 2005 2:22 PM ∞

Jose wrote:

GEORGEWOOD. I have used a person out of Jordan several times. Always quick and with great prices. His e-mail address is antiquesrus@softhome.net. He also sells on e-bay under Antiquesdotnet. Check him out. Jose

-- June 2, 2005 3:03 PM ∞

Sara Madgid wrote:

Thanks, Mike. :)

I thought this interesting.. it is worth noting that, in spite of the insurgency, they expect production to double or triple. :)

From Iraqi News
http://www.tbiraq.com/menafn_news_bl.asp?inc_name=news_details&n_id=93925
Tuesday, May 31, 2005
Exxon: Iraq to help drive OPEC growth in the long run

(MENAFN) According to oil major Exxon Mobil, much of the growth in OPEC crude oil production needed to meet energy demand over the next 25 years is expected to come from Iran and Iraq as well as Saudi Arabia, Reuters reported. Growth in global oil production is likely to come from the Middle East region, the company said. Crude oil production in Iraq, ravaged by violence since the end of the country's previous regime two years ago, is expected to more than double or nearly triple by 2030, the manager of Exxon's planning division that forecasts supply and demand trends. Iraq produced as much as three million barrels a day before the US-led war but sabotage and frequent attacks on oil facilities have pushed output down to roughly two million barrels of crude per day now.

-- June 2, 2005 4:03 PM ∞

GEORGEWOOD wrote:

Jose,

Thanks man.

-- June 2, 2005 4:09 PM ∞

Sporter wrote:

As the IMF has it written:

Iraq: Exchange Rate
as of March 31, 2005

Download this file CSV -- CSV tips

Date Exchange Rate
September 22, 2004 0.000466938
September 8, 2003 2.53758
April 30, 2002 2.53758
April 30, 2000 2.43852
April 30, 1999 2.38074
April 30, 1998 2.38881
April 30, 1997 2.3558
April 30, 1996 2.21848
April 30, 1995 2.04504
April 30, 1994 2.26323
April 30, 1993 2.26004
April 30, 1992 2.34852
April 30, 1991 2.39924
April 30, 1990 2.46985
April 28, 1989 2.48283
April 29, 1988 2.32407
April 30, 1987 2.46269
April 30, 1986 2.73556
April 30, 1985 3.24557
April 30, 1984 3.07215

The information provided is for your convenience and is not intended to replace other official IMF reports and statements.

Iraq: Financial Position in the Fund

http://www.imf.org/external/np/tre/tad/exportal.cfm?memberKey1=460&date1key=2005%2D03%2D31&category=EXCHRT&finposition_flag=YES

-- June 2, 2005 5:24 PM ∞

Sara Madgid wrote:

An interesting insight..

I was having a discussion today with a gentleman who knows much more of Vietnam than I do, and I just thought I would mention to you an insight he shared with me for you to ponder. He said that if the US had stayed in Vietnam and finished the job, there would be no insurgency. Militarily, the US was winning when they changed Presidents to a man who pulled the troops out of Vietnam (like Senator Kerry would have done if he had been elected).

If the US had won decisively in Vietnam (and he says they would have done so given time), the insurgents today would have already said, "You can't fight against America and win." and they would have given up by now. The reason they think they can win is because the US once turned tail and ran. That is the legacy of the past which affects us now.

If the US were to make that mistake twice.. it would encourage the insurgents of the future to think they can fight against America and win. I wonder if the American people realize this, and will continue in their support of this war til the end. The media coverage is always so negative and discouraging and some opinion polls show numbers which show some losing heart in the face of the hell depicted daily on the news. All war is hell, and we all feel keenly the loss of precious lives, but to leave with the mission not completed would not cause the price to be avoided, but to be paid, perhaps even a worse price, by the future generations of Americans.

Just as President Bush brought respectability and honor back to the Whitehouse after certain moral scandals that had afflicted it, a victory here would help the US forces to be perceived as strong and thus avoid many other military conflicts in the future. Remember that the insurgent movement is not about to disappear, any more than the Communist movement, because it is ideologically based and not based on economics or other factors that will easily change their views over time. Unless it is soundly defeated now, it will plague our troops for decades to come.

I found his insights interesting, and believe wisdom can be found in it.

Sara.

-- June 2, 2005 5:40 PM ∞

Sporter wrote:

Jordanian militant Abu Musab al-Zarqawi

IRAQ: FALLUJAH SHEIKH SAYS AL-ZARQAWI DIED ON FRIDAY

Baghdad, 2 June (AKI) - The Jordanian militant Abu Musab al-Zarqawi - al-Qaeda's leader in Iraq - died on Friday and his body is in Fallujah's cemetary, an Iraqi Sunni sheikh, Ammar Abdel Rahim Nasir, has told the Saudi on-line newspaper Al-Medina. He claims that gunfights which broke out in Fallujah in the last few days involved militants trying to protect the insurgency leader's tomb from a group of American soldiers patrolling the area.

During a telephone conversation from the city of Fallujah with the Saudi newspaper, Nasir said al-Zarqawi was taken there after being injured in the city of Ramadi around three weeks ago, and may have been treated by two doctors who had worked with his aides in Baghdad. He said the two doctors had stopped a serious haemorrhage in al-Zarqawi's intestines, but that after his condition worsened last week, the militant died on Friday.

Nasir adds that in his will the insurgent leader left the order that no funeral should be held for him and the right to announce his death should be left to the al-Qaeda leadership in Afghanistan and Osama bin Laden.

The Al-Medina newspaper reports that it also called the headmaster of a school in Fallujah, who preferred to remain anonymous, but confirmed that many people in the city were aware of the fact that al-Zarqawi had recently been taken to the city.

Sheikh Nasir's claims appear to correspond with reports several weeks ago that al-Zarqawi had been injured and taken to Ramadi hospital for emergency treatment, and with messages on the Internet talking of two Arab doctors accompanying him. Al-Zarqawi was reported to have been seen at the hospital on April 27. The hospital's director told an Iraq-based newspaper that US troops later surrounded and raided the entire building, searching for the Jordanian militant.

Only two days ago, an audio message attributed to al-Zarqawi was posted on the Internet, in which he assured his followers that he had only been lightly injured. Following the message, the US defence secretary Donald Rumsfeld warned countries neighbouring Iraq not to give any medical assistance to al-Zarqawi. "Our current theory is that he is in Iraq," he said. "Were a neighbouring country to take him in and provide medical assistance or haven for him, they obviously would be associating themselves with a major linkage in the al-Qaeda network, and a person who has a great deal of blood on his hands," Rumsfeld continued. "And that's something that people would want to take note of."
http://www.adnki.com/index_2Level.php?cat=Terrorism&loid=8.0.173437230&par=0

-- June 2, 2005 5:42 PM ∞

Michael wrote:

WOW!!! You guys certainly make me proud to be an American. Sara I think you should get that inscribed on a plaque or something. I have been in IRAQ for almost 17 months and I have only been reading this group for a month or so. It is the 1st I have found with this much information.I feel as if this has sort of grouped those of us that have the same beliefs in the future of IRAQ. I see a lot of people saying it will never happen. All I know is that Americans are trying to correct the mistake we made after the 1st Gulf war by leaving and allowing Sadaam to take out his frustration on his countrymen. I see the many many millions of American dollars going into this country every single day. I watch as convoy after convoy bring troops and supplies into IRAQ. I firmly believe that GW will not allow us to fail and thus not allow IRAQ to fail. I know it looks bad at times but believe me when I tell you that there are many millions of IRAQIS that want us here and want freedom and democracy. I see it every day.
A side note- I know a guy that was here at LSA Anaconda for some training in some LAB procedures. He is everntually going to be close to Mosul @ LSA Diamondback. He was telling me about KBR trying to drill water wells around the area of Mosul for drinking water. well everytime they drilled for water what do you think they hit instead?? You know it....OIL!! I dont know the depth but I would think that is pretty amazing in itself. Keep the faith people. It will happen......as AXL once said....PATIENCE!!

-- June 2, 2005 6:54 PM ∞

allen wrote:

Date Exchange Rate -Iraq
September 22, 2004 0.000466938
September 8, 2003 2.53758
April 30, 2002 2.53758
April 30, 2000 2.43852
April 30, 1999 2.38074
April 30, 1998 2.38881
April 30, 1997 2.3558
April 30, 1996 2.21848
April 30, 1995 2.04504
April 30, 1994 2.26323
April 30, 1993 2.26004
April 30, 1992 2.34852
April 30, 1991 2.39924
April 30, 1990 2.46985
April 28, 1989 2.48283
April 29, 1988 2.32407
April 30, 1987 2.46269
April 30, 1986 2.73556
April 30, 1985 3.24557
April 30, 1984 3.07215

The above are IMF SDR rates
(IMF Money)
they are not the same as Forex exchange rates
traded internationaly of country

The SDR is a 'special drawing right' reserve asset
to member countries

compare with US SDR for understanding

IMF SDR info

http://www.imf.org/external/np/exr/facts/sdr.HTM

IMF info SDR account

http://www.imf.org/external/np/tre/tad/exfin2.cfm?memberKey1=460&date1Key=2005-04-30

compare with US SDR rate

http://www.imf.org/external/np/tre/tad/exportal.cfm?memberKey1=1020&date1key=2005%2D04%2D30&category=EXCHRT&finposition_flag=YES

-- June 2, 2005 8:35 PM ∞

allen wrote:

History of Iraqi dinar exchange rate

http://truckandbarter.com/mt/archives/000502.html#9947

-- June 2, 2005 9:24 PM ∞

Lila Mcracken wrote:

Hello to all,

Just wondering if someone would know the answer to a tax question. When our dinars go up and we start cashing them in, do we or do we not pay capital gains tax? My husband asked the tax preparer about it and she told him that there are no taxes on currency. She said it's like an antique that appreciates. Hopefully our dinars won't be antiques by the time we cash them in but I just can't see Uncle Sam missing out on such a fine opportunity either. I've gotten so many different answers so I thought I'd just go to the experts. Thanks in advance!

-- June 2, 2005 11:42 PM ∞

RON wrote:

Thanks for the update concerning the blood thirsty
man that is now standing before his maker to reep what he has sown.We are talking about eternity here.GOD BLESS IRAQ.Thank you all.Ron

-- June 2, 2005 11:58 PM ∞

Sara Madgid wrote:

Allen;

I think you might be trying to argue the point that the Dinar is worthless because during Saddam's time the value was not a real market value. If so, this post will help explain why that kind of thinking is wrong.

http://truckandbarter.com/mt/archives/000502.html#10273

Let us know if that refutes your point adequately because there are more arguments that could be put forward.

Sara.

-- June 3, 2005 2:51 AM ∞

Rommel wrote:

Hey all,

I had a great opportunity to talk with an Iraqi citizen over here in BIAP. He is a brand new contractor, and I brought him inside to talk to our contracting chief, but along the way I had a great opportunity to discuss with him the situation from his point of view. I asked him how they feel about their new country. This was his response: "Things are...good in our country. They have gotten much better, except one thing. The people are...how can I explain this, they are...crazy. Not crazy but, scared. They are scared because they don't know what will happen with our people. They are scared about our economy." I said, "Well I see that your country is starting to get back on it's feet. You are starting to pump a lot more oil, and pretty soon some of us believe your currency will go up, and the insurgency will be defeated". He replied, "You know, it's going to take a lot more than our oil for our our currency to go up. And that's why we're scared. If you leave now we will crumble. They will win, if you leave now..."

When I dropped him off back at the gate, he shook my hand and said "Thank you...". I replied back at him, "No...thank you" Thank you for reminding me why we are here.

All I can say is, I am very proud to be a part of this. Mr. Hassan and his wife and four children can sleep at night knowing that we are here. And we are not going to "turn our tails and run like Vietnam", like the insurgents hope we do. You are right Sara, we cannot make the same mistake twice.

~Tyler

-- June 3, 2005 5:48 AM ∞

Sara Madgid wrote:

Thanks, Tyler.. I thought it an important point to ponder, and I am glad you thought it so, too. I want the Iraqis as well as the Americans to win and I don't want either of them to run away from what will be a victory if they can stand and fight (and take their losses) long enough. To stand and not just throw away the sacrifice of brave lives made so far as being a silly mistake (as we did in Vietnam), we must stay. I know it sounds heartless, but if you contrast what the Iraqi people were going through in torture and murders being perpetrated on their people BEFORE the US forces went in with the above ground terrorism today, it isn't like the amount of losses has changed for them... the losses just moved to a more visible sphere above ground. The same forces which stole their loved ones away in the night to rape, torture and murder them now just stalks them openly where we can more easily count the losses and pick up their body parts, instead of digging them up in mass graves. At least the Iraqi people have hope that their nightmare might end and they might achieve peace and a life for them and their families if America stays. Thanks for your interesting viewpoint from the heart of the country. I pray we stand fast, too. :)

Sara.

-- June 3, 2005 11:21 AM ∞

JB Smith wrote:

Sara wrote:
"You get your Dinars increased in value for helping the Iraqi economy out when it was down. You invested in their future and help make their dreams closer to reality, and in turn, the increase of the value of the Dinar helps you out with yours.

When you say,
"helping the Iraqi economy"
are you talking about Dinar?

I'm sorry but
now i fail to see,
in what possible manner does buying Dinar
help any Iraqis?
As you have changed money,
at a markup,
the only one who has been helped,
is the retailer.
In fact i often wonder
if in removing all this money from circulation,
creating an artificial demand,
it seems arguable that in fact,
we are causing economic harm.

In any case,
money does nobody no good
sitting in a shoebox.
OTOH if you put it in a bank then
it starts doing good things.
.

-- June 3, 2005 11:50 AM ∞

Sara Madgid wrote:

JB Smith;

You said: "in what possible manner does buying Dinar help any Iraqis?" Yet, you do admit we are, in your words, "creating an artificial demand."

Whether the demand is artificial is debatable, the point is, we create demand for Dinars. If there were no demand for the Iraqi Dinar, would that help or hurt the Iraqi economy? If the money was unaccepted internationally, no one wanted to hold it, would it help or hurt the efforts in Iraq? Do the insurgents want the economy to be healthy and the Iraqi money to be wanted and valued internationally? By creating demand for the currency, it does show support for, and interest in that "commodity" just as buying Levi jeans shows support for the makers of those jeans. I see the supply and demand dynamics working in the case of the Iraqi Dinar has been predicted as a useful source of income for Iraq.. As a poster on this board (whose views I disagree with, but this was interesting in his post) said:

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.

http://truckandbarter.com/mt/archives/000502.html#9705

Providing Iraq with a steady income is definitely helpful to Iraqis. We Dinar holders are doing that until they can get back on their feet economically. We stand to benefit from the transaction.. they ARE benefitting now.

Sara.

-- June 3, 2005 1:46 PM ∞

Michael wrote:

Hey Gang- I have been reading some older postings and I was reading where it is rumored that they may do away with the 25K dinar note? Any truth to that anyone??
There is a ton of information here. I am reading and reading.... :))
God Bless you all!
Go IRAQ!

-- June 3, 2005 3:00 PM ∞

JB Smith wrote:

Sorry Sara please
indulge my muddled mind,
again i don't have the vocabulary
to express what i feel intuitively;
intuitively,
it seems to me,
you have only exchanged money
for an equal value of money
as determined by the CBI,
you have "made change".
The only people who benefit,
are the retailers who sold it to you.

These would be, generally, foreigners,
not Iraqis.
(And thank goodness for that,
i would be most suspicious of an Iraqi's motives
in selling me Dinar.)

I'm simply saying
that money has no use
sitting in shoeboxes,
as the purpose of currency
is to facilitate commerce.
Which is why i keep harping on the same song,
i truly believe our Dinar
belong in Iraq.
.

-- June 3, 2005 3:13 PM ∞

guy incognito wrote:

HEY ALL
I Found This Under A Lengthy Article About The Insurgents In The New York Times Why Don't We See More Articles That Prove We May Have Been Right

UNITED NATIONS, June 2 (AP) - Satellite imagery experts have determined that material that could be used to make biological or chemical weapons and banned long-range missiles has been removed from 109 sites in Iraq, United Nations weapons inspectors said in a report obtained Thursday.

In the report to the Security Council, the acting chief weapons inspector, Demetrius Perricos, said he had reached no conclusions about who removed the items or where they went.

I Look Forward To Seeing This Unravel If Media Bias Towards Leading With Bleeding Can Take A Seat

-- June 3, 2005 3:42 PM ∞

Sara Madgid wrote:

JB;

I understand what you are trying to say. But you are not seeing the dynamics of this kind of commerce when you said:
"it seems to me,
you have only exchanged money
for an equal value of money
The only people who benefit,
are the retailers who sold it to you."

In any commerce transaction you have two sides, and each side trades for what the other person has at the retail level. You give your USD to a retailer, you receive in return for that money a commodity. For an example, let us say you decide to buy yourself a pair of Levis, since you are a man. You go to Walmart, and Walmart does make money selling you some Levis, but so does the wholesaler (the original manufacturer or original seller/ maker) which is Levi. When you say that the ONLY people who benefit are the RETAILERS, you are incorrect. In the example, the maker or original seller of the Levis, the Levi Manufacturing Company, also makes money on the Jeans, not just Walmart.

When you apply that to Iraqi Dinars this is how it looks. You buy Dinars from a middleman who functions much like Walmart does in the transaction for the Levis. The middleman, let us say to make it easy, is Ebay (actually it is individual sellers on ebay, but lets not get technical but keep it simple here). So the middleman Ebay sells to you and he makes money, but SO DOES THE ORIGINAL MANUFACTURER. You see, the Ebay seller bought the Dinars from somewhere, they did not manufacture this money any more than Walmart made the Levis, they just sold it to you. These middlemen, instead of buying from the Levi Manufacturing Company, they bought it from the Central Bank of Iraq. They used USD to purchase that Dinar from the Central Bank of Iraq and that money does go into the coffers at the Central Bank of Iraq who then are beneficiaries of that transaction. You get Dinars, the middleman (Ebay) and the manufacturer (Central Bank of Iraq) all profit from this transaction.

It is thus not true that, quote, "The only people who benefit, are the retailers who sold it to you. These would be, generally, foreigners, not Iraqis." You are only looking at the middlemen, who may or may not be Iraqis (quite a few are Jordanians). You need to look at their SUPPLIER to see the Iraqi connection.

You say:
"the purpose of currency is to facilitate commerce... i truly believe our Dinar belong in Iraq."

There is USD held all over the world in banks on every continent. Do you think it would be best that this money all be back here in the US? Why do people hold USD in their possession and not Levis? In part it is because Levis are not as easily exchangable as USDs are.

It is best if you think of it this way.. the holding of MONEY is a kind of commodity trading in itself. It is called currency trading. The kind of commerce you mean when you speak of using currency to buy things is retail commerce, this which we are speaking of here is a different discipline or area of commerce called currency trading. Investment in the Dinar is dealing in currency trading not retail commerce.

I hope this helps a little. :)

Sara.

Michael;

Yes, they are informative, Michael, aren't they? I sure have learned a lot reading the posts, myself. :)

You know, as far as their doing away with the 25K notes, I liked the answer on this post by the Bank Manager of the Rasheed Bank in Iraq:

http://truckandbarter.com/mt/archives/000266.html#9110

Q. Do you see Iraq changing currency again?
A. No. As the dinar becomes stronger we will replace the higher denomination currency like the 25,000, 10,000, and 5,000 with smaller currency.

Q. Do you mean that if you recall the 25,000 dinar bill I could exchange it for 25,000 dinars in smaller currency?
A. Yes, that is exactly what I mean.

Q. So, I would not lose any money in the exchange?
A. Right

-- June 3, 2005 4:20 PM ∞

Sporter wrote:

Geneva Fast for Economic Justice in Iraq - Full Version
May 1, 2005 | category: Uncategorized
June 15th to June 30th
Initiated by Jubilee Iraq* and Voices in the Wilderness**

International social justice activists (from Iraq, the U.S., the U.K. and elsewhere) will gather in Geneva, Switzerland from June 15th to June 30th to demand economic justice for Iraqi citizens. The continued economic exploitation of Iraq�s resources is a form of violence which must be resisted. Those of us who are citizens of the U.S. and U.K. bear a special responsibility as it is our respective countries which created and held firm to the economic sanctions regime which devastated Iraq�s health care, education, water and electrical infrastructure.

The fast, beginning June 15th, will precede and continue to the conclusion of the final meeting of the United Nations Compensation Commission (U.N.C.C.), which takes place from June 28th to 30th. The U.N.C.C. determines which claims for war reparations relating to the occupation of Kuwait in 1990-1 are to be paid by Iraq and at what amount.

Fasters will address the issues of war reparations, debt cancellation, and reconstruction. Without each issue being resolved to the benefit of Iraqi citizens, the legacy of 15 years of economic and military warfare (1991 to the present) waged by the U.S., U.K. and others against Iraq will continue indefinitely, as will the legacy of Saddam Hussein�s regime. The fast seeks:

An immediate moratorium on war reparations payments and claims followed by a U.N. Security Council resolution canceling all reparations imposed against Iraq;
The elimination of all odious debt incurred by Saddam Hussein�s regime as determined by an odious debt arbitration tribunal in which Iraq has full due process rights;
That no economic conditions be imposed upon Iraq by the international community through such mechanisms as an International Monetary Fund (IMF) stand-by-agreement or otherwise;
Full funding for the reconstruction of Iraq which benefits the Iraqi people, is directed by the Iraqi people, and is without any strings attached.
The citizens of Iraq ought not be held responsible any longer for the actions of Saddam Hussein and his regime during this war. Already, Iraq has paid $19 billion out in war reparations. The U.N.C.C. has imposed another $33 billion in war reparations claims against Iraq which are yet to be paid. At its meeting of June 28th to June 30th, the U.N.C.C. will determine how much of the remaining $65 billion in claims will be paid by Iraq. This is expected to be the final meeting of the U.N.C.C. We take particular note that virtually all individual claims have been resolved and paid. The overwhelming remaining war reparations claims imposed against Iraq or yet to be decided are those of state owned oil enterprises, multinational corporations and claims by governments against Iraq.

Most people do not recognize or realize that under the Oil for Food Program, 25-30% of Iraq�s oil revenue was put towards war reparations. These payments did not end with the dissolution of Oil for Food, since in May 2003 the U.N. Security Council passed a resolution requiring that 5% of Iraq�s oil revenues henceforth be used to pay war reparations.

We ask the simple yet profound question which is seldom heard:: At what point will the Iraqi people no longer be penalized for the unjust acts of the Saddam Hussein regime? We recall the harsh penalties imposed against Germany following World War I in the Treaty of Versailles. It is historical fact that these harsh penalties caused economic devastation in Germany which set the foundation for the emergence of the Hitler regime. War reparations imposed against countries following World War II were never fully paid, with one exception. For example, West Germany was released from war reparations payments in 1953 and East Germany was released from such payments in 1954.

We question why Iraq should be held out separate and distinct from the prior history of modern authoritarian and totalitarian regimes. When these regimes fell, subsequent governments were not required to assume blanket responsibility for war damage caused by the prior undemocratic regime.

We therefore call upon the U.N.C.C. and the United Nations to cancel any further war reparations already assessed against Iraq as well as any further assessment of such claims.

In a like manner, Saddam Hussein and his regime incurred significant debt which accrued solely to the benefit of him and his regime. The vast majority of this debt didn�t benefit the Iraqi people and therefore must be considered �odious debt�. Such �odious debt� ought to be canceled outright. In 1979, when Saddam Hussein seized control, Iraq had no long term debt and actually had $36 billion in cash reserves. By the eve of the war in 2003, Saddam�s regime owed about $125 billion. Much of this is interest which accrued on the debt since 1990 when it became impossible for Iraq to repay any debt due to the economic sanctions.

Of the $125 billion claimed from Iraq, about $42 billion is claimed by countries which are members of the Paris Club. In November 2004, the Paris Club agreed to reduce their claims by up to 80%. However, only the first 30% of this debt reduction came without any strings attached. It can actually be plausibly be argued that this amount of debt reduction simply eliminates the interest accrued since 1990 and does not reduce the principal amount of the loan taken out by Saddam Hussein and his regime.

The next 30% of debt reduction will come only after Iraq has agreed to implement significant structural changes to its economy which are demanded by the International Monetary Fund. We expect that these changes will take a form similar to other instances in which the I.M.F. demanded economic �shock therapy� which resulted in massive disruption to the local economy and damage to people�s lives. Indeed a good chunk of this is already being implemented under the guise of the legacy of the Orders issued by Paul Bremer when the Coalition Provisional Authority ruled Iraq.

The final 20% of debt reduction will come only after a minimum of 3 years and only after Iraq has demonstrated to the I.M.F. that it has implemented the I.M.F.�s prescribed economic restructuring.

Of the remaining $83 billion of debt claims, $67.3 billion is claimed by countries which are not part of the Paris Club; about � billion dollars claimed by international financial institutions; and $15 billion claimed by private creditors.

In a powerful statement following the Paris Club meeting in November 2004, the Interim Iraqi National Assembly asserted that the debt is largely odious and demanded a 95% reduction and also an end to war reparations. Indeed, unless a reduction of such a magnitude occurs, Iraq will not be able to attain economic sustainability and will forever remain a pauper nation.

We therefore call for the cancellation of all �odious debt� incurred by Saddam Hussein and his regime. We call for the establishment of an international arbitration tribunal which will determine which debts are legitimate and which are odious. We also call for debt reduction of those other legitimate debts which benefited the Iraqi people. We further call upon the Paris Club members, other sovereign countries and the international financial institutions to extend grants to Iraq as the people of Iraq rebuild their countries. All debt reduction and cancellation and all grants must come without strings attached.

Finally we call upon the major industrialized countries of the world to honor their pledges of financial assistance made at the Madrid Conference in the fall of 2003. Few countries have fully honored their pledges. The U.S. has led the slide back on its pledge of funding reconstruction of Iraq, diverting funds intended for such projects as electricity and water to war fighting. We call for the full funding of the reconstruction of Iraq by the international community, and most especially by the U.S. and U.K., in a manner which benefits the Iraqi people; is directed by the Iraqi people; and which does not come with any strings attached.

As we gather at the U.N.C.C. meeting in Geneva, Switzerland we ponder the wisdom of continuing to punish the Iraqi people for the sins of Saddam Hussein. The non-Iraqis among us recall that the governments of those countries of which we are citizens were allies and supporters of Saddam Hussein throughout the 1980�s, the time period in which Iraq�s outstanding debt was established. We also recall that it was our countries which waged economic warfare against the Iraqi people for the past 15 years in the form of economic sanctions. Those of us who are citizens of the U.S. and U.K. bear particular responsibility for this warfare and its legacy as our countries� governments sat on the U.N. Security Council and prevented any possible end to the sanctions regime.

Rather than requiring the Iraqi people to continue to pay for the crimes of Saddam Hussein, we believe that it is imperative that war reparations be paid to Iraq for the devastation caused by the past 15 years of economic and military warfare. To do otherwise will be a crime against the Iraqi people.

About the Initiating Organizations:
*Jubilee Iraq was formed in March 2003 as a network of Iraqis and internationals (including lawyers, economists, politicians, aid workers and others) dedicated to ensuring that the Iraqi people are not unjustly forced to pay Saddam�s bills. It is independent and involves people of diverse political opinions who are all united on this issue. In 2004 it organized demonstrations at two UNCC meetings as well as at the Paris Club and the IMF Autumn summit in Washington. It organized a conference of Iraqi economists in Berlin and conducted an in-depth consultations with Iraqi civil society and political parties, culminating in a bill which passed unanimously in the Interim National Assembly condemning the odious debt and reparations.

**Voices in the Wilderness was formed in 1996 to challenge and oppose the economic sanctions imposed against the people of Iraq. Voices was formed as a campaign of active nonviolence. Delegations traveled to Iraq, bringing medicine and other humanitarian supplies to Iraqis in violation of the economic sanctions and U.S. law, acts for which the U.S. government seeks to penalize Voices. Voices believes the imposition of war reparations claims against Iraq; demands for repayment of �odious debt�; and forced restructuring of Iraq�s economy to benefit the IMF and non-Iraqi financial interests is a continuing of the economic and military warfare waged against Iraq since 1991. Voices opposed the U.S. invasion of Iraq and the current occupation of Iraq. Voices also calls for full funding for the reconstruction of Iraq, without strings attached to the funding and as determined by the Iraqi people to be to their benefit and not the benefit of multinational corporations.

http://vitw.org/voices_from_iraq/

-- June 3, 2005 5:27 PM ∞

Sporter wrote:

For first time, shoppers will have credit
By Mona Mahmoud, Special for USA TODAY
BAGHDAD � Iraq has long been a cash economy, but plastic has just established a foothold here.
The Trade Bank of Iraq recently issued 50 Visa cards to a handful of government officials. In a few weeks, the cards will be available to the public. Bank officials hope it will be the start of a full-scale plastic invasion.

Hussein al-Uzeri, chairman of the Trade Bank of Iraq, says the Visa cards � the first credit/debit cards in Iraq � are an important step to economic recovery. The hope is the cards will entice people into using banks and establishing credit.

Customers will pay a $35 fee to get a card and will be required to deposit $1,000 in their accounts. The card will function initially as a debit card. Customers can only make purchases that are covered by money in their accounts.

The Trade Bank plans to issue 30,000 cards by the end of this year. The bank has also opened Iraq's first automated teller machine, at the bank's headquarters, and hopes to open more throughout the country.

Some business owners say they are excited about the cards. The cards are "very useful for not only businessmen but for common people as you do not have to carry money with you," says Basil al-Hadithi, 42, an owner of mobile phone shops.

The Trade Bank now needs to encourage businesses to accept the cards and overcome Iraqis' natural aversion to anything but cold cash.

"I prefer cash as it is easier and quicker," says Fadhil Hassan Assim, 35, who owns a market in Baghdad and dismisses the idea of using plastic.

http://www.usatoday.com/news/world/iraq/2005-06-02-iraq-plastic_x.htm?csp=N009

* Is that 1,000 U.S. or 1,460,000 Dinar?

-- June 3, 2005 5:39 PM ∞

Sara Madgid wrote:

Sporter;

Your very long post ends with these words:

"Voices opposed the U.S. invasion of Iraq and the current occupation of Iraq."

Therefore, if they had their way, these people would still have Saddam in power butchering, raping and torturing the Iraqi people at will. They also would prefer we not be there now, even though the duly elected Iraqi government has asked the US to stay. Am I to infer, since you posted this without comment, that you also hold to all the ideals of this group, Sporter?

Sara.

-- June 3, 2005 7:43 PM ∞

Sara Madgid wrote:

Michael and JB, check my answers to your post, above.
Sara.

-- June 3, 2005 9:51 PM ∞

Sara Madgid wrote:

Very interesting, guy incognito..
I found this on the topic after reading your post.
Sara.
----
Friday June 3, 11:05 AM
WMD equipment missing from 109 sites: UN

UN satellite imagery experts have determined equipment and material that could be used to make biological or chemical weapons and banned long-range missiles have been removed from 109 sites in Iraq.

From the imagery analysis, Perricos said analysts at the UN Monitoring, Verification and Inspection Commission (UNMOVIC), which he heads, have concluded biological sites were less damaged than chemical and missile sites.

A third of the chemical items removed came from the Qaa Qaa industrial complex south of Baghdad which the report said "was among the sites possessing the highest number of dual-use production equipment, whose fate is now unknown." Significant quantities of missing material were also located at the Fallujah II and Fallujah III facilities north of the city, which was besieged last year.

Before the first Gulf War in 1991, those facilities played a major part in the production of precursors for Iraq's chemical warfare program.

The percentages of missing biological equipment from 12 sites were much smaller - no higher than 10 per cent - and the state of repair varied from good to poor.

But according to the report 37 of 405 fermenters ranging in size from 8 litres to 5,000 litres had been removed. Those could be used to produce pharmaceuticals and vaccines as well as biological warfare agents such as anthrax.

The largest percentages of missing items were at the 58 missile facilities, which include some of the key production sites for both solid and liquid propellant missiles, the report said.

For example, 289 of the 340 pieces of equipment to produce missiles - about 85 per cent - had been removed, it said.

At the Kadhimiyah and Al Samoud factory sites in suburban Baghdad, where the report said airframes and engines for liquid propellant missiles were manufactured and final assembly was carried out, "all equipment and missile components have been removed."

http://au.news.yahoo.com/050603/2/ukr0.html

-- June 3, 2005 10:23 PM ∞

Sporter wrote:

Sara,

It seems of late,that the post I make to this site are under a microscope. I posted the article as it was written nothing more. And no those are not my views and my intent was not to insult anyone. I wish my contribution or lack there of in your eyes was understood for the purpose of just sharing information. Good luck to all the dinar investors. I will retire to the back of the room.

Best Regards

-- June 3, 2005 10:37 PM ∞

proteus wrote:

"ideals"? if i'm not mistaken, everyone in this group, myself included, is hoping to get rich off the misfortunes of others. Gild it if you want with quasi religious justification, but it ain't manna that we're hoping will fall out of the sky into our bank accounts. There's plenty of murdering and butchering going on all over the world right now, much worse than anything Saddam was doing either before or after 9/11, but we (as a country) don't seem to be too hot about doing anything about it. I haven't heard about any mobilization to go to say Sudan. If you think we're in Iraq just to promote democracy and defend some misfortunate people from the boogey man you are extremely naive, Sara.

-- June 4, 2005 12:24 AM ∞

Sara Madgid wrote:

Sporter;

OK, I just found the tone of the article very demeaning of the contributions of this nation to Iraq and wondered why you posted it. You said that "no those are not my views and my intent was not to insult anyone" so.. if it doesn't reflect your own views about Iraq, what did the article contain which you wished the board to take note of? Hmmm..

When it says, quote: "Voices believes the imposition of war reparations claims against Iraq; demands for repayment of �odious debt�; and forced restructuring of Iraq�s economy to benefit the IMF and non-Iraqi financial interests is a continuing of the economic and military warfare waged against Iraq since 1991."

That says that those who are trying to restructure the Iraqi debt are "continuing warfare against Iraq" (a pretty demeaning comment if you happened to be one of the creditors). Calling the creditors to whom you owe the payment on your house monthly a bunch of gorillas and terrorists is hardly flattering or fair. It would be nice if they forgave the debt, just like if the Bank forgave the mortgage on your home, but I don't think they will get real far with their attitude. Do you think you would get far with that attitude with your mortgage banker?

The debt may be odious, a word which means, "Arousing or meriting strong dislike, aversion, or intense displeasure" but just because they don't LIKE it, doesn't necessarily mean they don't owe it. I see the argument they are using, just like the mortgage payment, if it was a mortgage incurred by the previous owners, now they are gone, can't we just forgive the debt? But, by that reasoning, when President Bush took office, the national debt wasn't incurred by him but by some other President, so why don't the Bankers all forgive that regime change, too?

You don't have to retire to the back of the room, Sporter. I took exception to the article, but Please don't take personal offense to what I said. Your contributions are always welcome. :)

Perhaps, though.. next time?? could you write a little note on top about what you see in the article and wish to direct our attention to? If it is full of stuff you disagree with, we might see it as disagreeable too.. and wonder why you posted it.

Sara.

-- June 4, 2005 12:34 AM ∞

Carl on Wilson Lake wrote:

TRUE CHANGES ALWAYS START WITHIN
We as dinar investors want the Iraqi government and Iraqi people to do well. The reasons of course are numerous, with one being the increase in dinar value.
But like the transition, that we here in America went through during the civil rights area 1960's and on for years, it took time for hearts and prejudices to change. Here in America the majority of the changes occurred in racial attitudes, and the aceptance of another culture and way of life.
I grew up in the South and had and have a close few of both ends. Some individuals in America never did change their minds or hearts on either side. They simply over the years died out, and their attitudes died with them.
I believe the same transition will occur in Iraq. The economic environment of the country will change a whole lots quicker than the heart will over there.
One of the key ingredients to change is involvement. Get one culture involved with another, and you start to see business relations, and personal relations develope. This slowly over time puts a face on the person that at one time each side could have shot without hesitation. Its a whole lots harder to cause harm to someone you know or involved with, than a stranger.
These reforms must take place not only in the work environment but also in the governments of the middle east.These reforms are not something that is just on the wish list. There are mandatory for the GCC Currency and for Iraq itself to become a viable player in the world's economy.
Example: Recently in Saudi Arabia, (which is the country that has been designated by the GCC as the dominant country of the GCC currency), a parliament member had death threats, promises of movements to remove him from his office because of his outright irresponsibility, and received many emails praying that Allah would freeze his blood for a proposal that he made on their parliament floor. The Proposal was so devasting and emotion igniting, that the leader of the paraliment refused to put it on the floor for discussion even, much less a vote.
The proposal..... "Allow women to drive cars in Saudi Arabia".
So you see deep changes have to be made, but it changes have started and will continue. They will not be without bloodshed. Hardly anything is in the middleeast. Like it or not, that is their present culture.
Recently Ibrahim Dabdoub, Chief Executive Officer fo the National Bank of Kuwait and who is one of the worlds most respected bankers, made the following statements during an interview.
I will paraphase here, as some individuals in positions of supposed authority, they tend to speak a paragraph when a sentence would have done just as well.
He stated," Deep reforms in education and goverments are needed alongside economic liberalization in the Arab World. These changes must occur if the Arab World hopes to meet the challenge of employing millions of new entrants into the middle eastern labor markets.
I will cover some of his direct comments in the next post. I believe you will find them informative, as to the specifics regarding change in the middle east.

JB:
The dinar in my shoebox is presently just that in my shoebox. The benefit of the dinar to me is still out for vote. I am trusting the benefits will slowly disclose themselves over time. The benefit of my USD,given for the dinar is still in play with the Iraqi Government, and my small contribution has and will continue to assist the Iraqi government to achieve its goals, despite the obvious corruption that still exist in parts of that little hodge podge of politicians.
But your skepticism has been well earned by the cultures of the middle east.

-- June 4, 2005 7:45 AM ∞

ejamm wrote:

Lila, To answer the tax question

Taxes on currency gains
So what about money you gain or lose due to the movements of currency exchange rates? Those gains and losses are taxed at the same rate as the original transaction. Therefore, if the coupon payment on your bond is taxed at your normal income tax rate, related currency gains are taxed at that rate as well. If you lose money on an investment due to currency rates, that loss is usually treated as an expense. When you sell an investment, you include currency gains or losses as part of your capital gains or losses.

On the road

Some investors buy and sell other countries' currencies in the hopes of making a profit based on exchange rates. You may have enjoyed a small taste of this if you've traveled abroad and discovered a favorable exchange rate on your way home.

For example, suppose you'd exchanged $100 for 1.4 million Vietnamese dong, and on your way back to the U.S. you exchanged the same 1.4 million Vietnamese dong for $110, due to changes in the exchange rate. You'd have a currency gain of $10.

Currency gains and losses on personal transactions, as long as they fall under $200, aren't taxed. But currency gains above $200 are taxed as capital gains. Currency losses on personal transactions aren't deductible.

If you're involved in trading currencies � for example, using options and futures contracts � those transactions are taxed as commodities trading under Internal Revenue Code Section 988.

http://www.pathtoinvesting.org/trips/intlinvesting/spclrisks_043.htm

-- June 4, 2005 10:22 AM ∞

Sara Madgid wrote:

Proteus;

I think it would take a very horrible person that would seek to get rich off the misfortunes of others - including the murdering and butchering of innocent human lives. God looks upon the heart. When one person does something another may do the same thing and not be held as culpable in a crime if their heart is true. But I don't believe I am just glossing over profiteering from murderous crimes against humanity as you allege.

No one has said that the US will not benefit, or that "we're just in Iraq to promote democracy and defend people" but that is what is happening, whether you like it or not. Democracy IS being promoted, and innocent people ARE being defended.

I look a little higher for the reasons for this and believe Someone Else is looking after the situation and moving the pawns on the chess board as He sees fit for HIS good purposes. Men are but men.. but God is God.. and He loves those people and is moving to help them, making the decisions which happen in His world to turn out as He wills them to, even as He once helped this nation become great, as Carl pointed out today in his post.

Pro 21:1 The king's heart is in the hand of the LORD, like the rivers of water: He turns it wherever He wishes.

If it is naive to look at life with faith in God and see His hand, seeing and hoping for what He wishes to happen in life, then a good portion of the population of the US joins me in that naivete.

http://www.usatoday.com/life/2001-12-24-religion.htm

In this survey called "Still one nation under God " the American Religious Identification Survey (ARIS) says 81% of Americans claim a religious identity, and when asked about God they say, "Questions about the divinity found that almost all "say God exists and helps me," Mayer says. Even 78% of people with no religion agree "God performs miracles."

If you happen to be among those who cannot or will not see the hand of God in situations, then all that is left for your motives by your view of life may indeed be profiteering by bloodlust. Just don't impute such low heart motives to those whose lives are not in your sphere.

Sara.

Breeding: the quality that enables a person to wait in well-mannered silence while the loudmouth gets the service.

-- June 4, 2005 10:50 AM ∞

Michael wrote:

Sara I take my hat off to you. You are no doubt a intelligent and patient woman. It seems as if some "posters" here get impatient with you at times. I see that you always go to great lengths to explain yourself and your thought process in a well thought out manner. You should be commended for your well thought out responses. I would like to see the people that frequent this MESSAGE BOARD show a little more appreciation for all you do in passing on the information that you have and the way that you explain it to us simpletons.
They should also remember that this is not a pay site where you owe them something. At least that is my view on things....or do I owe you money?? :))
Great job with all your responses Sara and Thank you for all your time and efforts!!

-- June 4, 2005 12:31 PM ∞

Sara Madgid wrote:

Michael;

No, you don't owe me any money. As you say, I do this posting with my own time and I don't owe it to anyone to do so. I don't make money off anyone buying Dinar or not buying it. People like you make it worthwhile because you, too, are thoughtful and interested in the topic. Thanks for appreciating my efforts.

Sara.

PS Did you notice that no mainstream news service picked up on the story Sporter posted about Z being dead? I guess it isn't really confirmed then, though that article was very credible and made it seem quite possible. (Thanks for that post, Sporter, by the way. :) )

If he is dead, it will make a difference to the insurgency and how it is carried out. It could fall apart, just like the game of chess is pretty much over when you get the King. It isn't easy to replace a King in spite of what they are postulating. No one else has quite the mind for strategy as the Kingpin who WAS calling the shots, you know? Just continuing to do what Napoleon once did in battle didn't work for the ten generals that tried to duplicate his strategies after he died. The current situation could just be copycats, like Napoleon's generals, without a head full of new strategies behind it.

Sara.

-- June 4, 2005 1:24 PM ∞

Sara Madgid wrote:

Iraqi troops seize militant �prince of princes�
(Reuters)
4 June 2005

MOSUL, Iraq - Iraqi forces have seized a senior militant leader linked to Jordanian mastermind Abu Musab Al Zarqawi and accused of overseeing an array of deadly attacks in Iraq, the Defence Ministry said on Saturday.

A spokesman for the ministry said Mullah Mahdi, sometimes known as Prince of Princes or Abu Abdul Rahman, was detained after a raid backed by US troops on Friday in the northern city of Mosul, where insurgents have built a base of operations.

�This is a very significant achievement. Mullah Mahdi is one of the most dangerous terrorists in the country,� the spokesman said. He would not give details of the operation but said six others, including Mahdi�s brother, were also seized.

Mahdi is believed to be a senior member of Army of Ansar al-Sunna, one of Iraq�s most feared militant groups, responsible for a series of spectacular attacks in Iraq, including a blast inside a US military mess hall in Mosul late last year.

Ansar al-Sunna is believed to have links to Al Qaeda in Iraq, the group led by Zarqawi, Washington�s most-wanted man in Iraq, with a $25 million award being offered for information leading to his capture or death.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June20.xml§ion=focusoniraq

-- June 4, 2005 1:53 PM ∞

rod wrote:

do you guys think the dinar will peg aug 2005 and if u think so how much will u think it will peg at.

or do u think ill have to let me dinar it in my safe box for more than 2 years.

-- June 4, 2005 2:07 PM ∞

Sara Madgid wrote:

A little long, but very encouraging. :)
Sara.

Iraq: Why the Insurgency Can�t Win
Amir Taheri

A month after the formation of Iraq�s first freely elected government, news of suicide attacks, car bombs, and kidnappings continue to dominate the headlines from Baghdad. In April and May the number of people killed in terrorist attacks rose to an average of 15 a day, compared to five for February and March.

Does this mean that the insurgency has fresh wind in its sails? Are the terrorists winning, as some Western commentators suggest?

The answer to both questions is no.

To be sure, the insurgency still holds the tactical initiative in the sense that, within the area where it has an effective presence, it can still decide where and when to strike. Strategically, however, the insurgency is weaker now than it was a year ago. This is because the struggle for Iraq is ultimately a political one the outcome of which will not be decided by how many people each side kills but by how those killings and other acts of violence are translated into political realities.

To understand this we must understand what the fight is about.

On one side we have all those who want to remold Iraq into a developing democracy in which power is won and lost through elections. Last January�s general election showed that the overwhelming majority of Iraqis are on this side. On the other side there are those who, for a variety of reasons, do not wish that project to succeed. Here we find the remnants of the Baath, militants, Sunni sectarians, and, to an extent often overlooked, professional criminal elements. But this fight is not about the future of Iraq alone. The success of the democratization project in Iraq could transform the whole of the Middle East, indeed the entire Muslim world. The burgeoning democratic movement inspired by the liberation of Afghanistan and Iraq is already influencing the political debate in virtually all Arab states.

Thus the Iraqi insurgency and its terrorist allies, not to mention its Islamist and pan-Arab sympathizers elsewhere, have already lost the political battle because they have failed to present a clear political alternative to the democratization project.

Since 2003 the insurgents and their terrorist allies have killed lots of people but are no closer to a political victory than two years ago. They resemble a man who wins a large number of tokens in a casino only to be told at the cashier�s that none could be cashed.

Much to the relief of Iraq�s emerging leadership, the insurgency has excluded itself form the political process. Unlike other terrorist organizations that use a political fa�ade as an interface with the rest of society, the Iraqi insurgency has opted for a quixotic strategy of seeking a straight-armed victory over the US-led coalition and the new Iraqi regime. By doing so it has limited its own options and alienated a good part of the constituency that might share some of its goals.

Right from the start, the political initiative has been on the side of the US-led coalition and the new emerging Iraqi political leadership, and remains there.

It was the US-led coalition that took the initiative in removing Saddam Hussein to power while those who now form the insurgency either watched in amazement or ran to hide in holes.

When the insurgency appeared in the summer of 2003 it based its strategy on a number of illusions. First it thought that by killing as many Americans as possible it would undermine public opinion support for the war inside the United States. When that did not happen, the insurgency tried to terrorize as many of the allies as possible into withdrawing from Iraq. But that, too, didn�t produce the desired results.

Next, the insurgency decided that killing members of Iraq�s nascent army and police force could do the trick. But two years of brutal killings have failed to reduce the number of new recruits or slow down the training and deployment of new units.

Once it had become clear that killing Americans and Iraqi Army and police recruits would not stop the march of history, the insurgency switched to the tactic of killing Iraqi Shiites at random. And once that had failed, random killing was extended to Sunni Kurds and Turcomans. With the insurgency�s hope of provoking sectarian wars dashed, we are now witnessing a new phase in which even Sunni Arabs are being killed indiscriminately. The insurgents know how to kill but no longer know whom to kill. Nor do they seem to know why they are killing.

By adopting an extremist posture the insurgency has forced many Iraqis who, for different reasons, resent the occupation or do not like the new government, into the position of passive onlookers. Most people are prepared to march, go on strike, practice civil disobedience, vote, or even take personal physical risks in pursuit of political goals. Some are even ready to sacrifice their lives for deeply felt convictions. We saw a demonstration of all that in Iraq�s first free election last January when millions turned out to express their support for democratization. But when it comes to killing people at random, whether through car bombs or suicide attacks, only very few on the margins of humanity would be attracted. Having excluded the vast majority of the Iraqis from its field of vision, the insurgency has invested its hopes in the necessarily diminishing number of potential random killers and suicide bombers.

Politics being the art of the possible, the insurgency�s discourse consists of a jumble of impossibilities. It is impossible to imagine a new Iraq ruled once again by Saddam Hussein or Izzat Al-Duri, his No. 2 who is the insurgency�s principal ringleader. Nor could one imagine the Palestinian-Jordanian terrorist Abu-Mussab Al-Zarqawi entering Baghdad as a victorious �Commander of the Faithful� to build an Arab version of the Taleban�s now defunct rule in Afghanistan. Anyone with any knowledge of Iraq would know that few Iraqis would find either of those options as attractive.

Paradoxically, the insurgency�s supposed goal of driving the US-led coalition out of Iraq could, if realized, prove suicidal for the insurgents.

In the first few months after the fall of Saddam Hussein, the insurgency might have benefited from an American retreat. At that time the insurgents, especially the remnants of the Baath paramilitary and security organizations, still had a virtual monopoly on weapons in Iraq and thus would have been in a position to regain power by killing large numbers of unarmed Shiites and Kurds as they had done on other occasions since 1968.

Now, however, the �other side�, that is to say the Shiites and the Kurds who together represent 85 percent of the population, are also armed and can fight back both through their own paramilitary organizations and the newly created army and police force.

Of greater moment to the insurgency is the fact that the US-led coalition, constrained by American and international laws and conventions, cannot fight with the same degree of brutality that Al-Duri and Zarqawi regard as routine. But what if the fighting is left to Shiites, Kurds, and even some Arab Sunnis, who have a personal score to settle with Al-Duri and Zarqawi? They would certainly not be concerned about the Marques of Queensbury�s rule. The Iraqi insurgency�s future is dim because Al-Duri and Zarqawi are seeking total power at a time that Iraqi politics, and beyond it the politics of the greater Middle East, are being recast on the basis of power sharing and compromise. Because they want all of power they will end up having none of it. The insurgency may continue for many more months, if not years, in the area known as Jazirah (island), which accounts for about 10 percent of the Iraqi territory, plus parts of Baghdad. It may continue killing people but will not be able to stop the political process. Its history is one of a string of political failures.

Over the past two years it has failed to prevent he formation of a governing council, the writing of an interim constitution, the transfer of sovereignty, the holding of local and general elections, and the creation of a new government.

This year it will fail to prevent the writing of a new constitution, already being drafted, the referendum to get it approved, the holding of fresh parliamentary elections, and the formation of a new elected government in Baghdad.

To paraphrase an Arabic saying, the caravan will continue its journey while the wolves howl.

http://www.arabnews.com/?page=7§ion=0&article=64848&d=4&m=6&y=2005

-- June 4, 2005 2:19 PM ∞

Sara Madgid wrote:

Killing of Iraqi civilians was 'senseless'
June 02 2005 at 03:57PM

Baghdad - Gunmen in three cars opened fire on a group of Iraqis at a market in the north of Baghdad on Tuesday, killing nine people, a spokesperson for Iraq's defence ministry said on Thursday.

"Terrorists in three cars opened fire on some shops, killing nine civilians," the spokesperson said, adding that the attack took place late on Tuesday night.

There was no clear motive for the attack, another official in the defence ministry said, asking not to be identified.

"I can't understand why they are killing innocent people on the street like this, it makes no sense," he said.

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw111771864149B262

-- June 4, 2005 2:34 PM ∞

Sara Madgid wrote:

Senseless killings.. and civilians bearing the brunt of the carnage..
As that long article says.. they lost the ideological battle long ago,
no matter how many more innocents they kill, they cannot win.
Sara.

Iraqi civilians bear brunt of carnage
May 29 2005 at 10:42AM

Baghdad - At least five Iraqis were killed and 18 wounded in two bomb attacks on Sunday, including three who died in a fresh attack on the country's fledgling security forces, security sources said.

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=qw1117354320797I625

-- June 4, 2005 2:39 PM ∞

proteus wrote:

nevertheless, you are banking on the misfortunes of others. i go to church too, but it doesn't mean I have to blather on about it to everyone i meet. plenty of killing being done in the name of one God or another. You think God has a hand in that? It's easy to say that it's God's plan. the gift of free will makes it necessary for people to own their behavior, not try to foist it off on God. By the way, your average suicide bomber sees God's hand in his or her actions as well. would you agree with them?

I like to treat religion like I treat sexual preference. don't bother me with yours and i won't bother you with mine. I stand by what I said. I'm not trying to critique anyone's motives. In my view we're all just acting like human beings. the "sphere" i live in is called reality, you should try it sometime.

after reading the following post I felt the need to mouth off. You said,

"Sporter;

Your very long post ends with these words:

"Voices opposed the U.S. invasion of Iraq and the current occupation of Iraq."

Therefore, if they had their way, these people would still have Saddam in power butchering, raping and torturing the Iraqi people at will. They also would prefer we not be there now, even though the duly elected Iraqi government has asked the US to stay. Am I to infer, since you posted this without comment, that you also hold to all the ideals of this group, Sporter?

Sara."

That was nasty. you were obviously aggravated by his post as I am by many of yours. and really, "your very long post"? come on, your posts are the longest EVARR. In any case, until i read that I'd always held my tounge. I like this site. folks are posting some good information here, even you. I just don't feel that it's up to you to decide for me what I need to be reading.

so, back at you with the "Breeding: the quality that enables a person to wait in well-mannered silence while the loudmouth gets the service."

That's all I got to say about that.

-- June 4, 2005 6:54 PM ∞

Sara Madgid wrote:

Glad you cleared the air Proteus.. it is nice to hear what you really think. :)

I appreciate that you are not trying to critique anyone's motives, but calling me naive was a little nasty and it did provoke me to speak.. tis human nature, not divine, to defend onesself. God doesn't need any defence really. :)

When you say:
"nevertheless, you are banking on the misfortunes of others."

That is provoking. I am NOT invested in Dinars for monetary motives. I didn't buy one Dinar with the motive of getting a profit, not even one penny. You don't understand my heart or motives, God does. I am not banking on the misfortunes of others, and I wish the Iraqi people well. The success of the venture will make me happy, I will be pleased.. but not because of the money.. it isn't.. you cannot possibly understand. And you had no right to claim that as my motive.

You touched on theology.. free will and God's Sovereign power over the events of life. Briefly, your position is that men are responsible for their actions and therefore God has no say. I agree with the first part, but not the second. OF COURSE men are completely responsible for their actions before God and responsible and answerable for them too, however, that does not mean God takes a back seat and merely watches what man is doing. He is complex enough that He can weave His purpose in what seems like chaos to us, and yet make it work out perfectly as He wishes it to. Puzzle this one:

Psa 76:10 Surely the wrath of man shall praise You: the remainder of wrath You shall restrain.

If God can make man's ANGER and wrath (which as you know is done often in a fit of passion and is filled with sinful motives) to end up to the Praise and glory of God.. nothing is outside His dominion. Man may indeed use his human will to do what he wishes, but God will make it work to His way and will. Thus, as you observed, the suicide bomber who kills may think he does what is God's will, no doubt motivated by anger at his enemies, but God will cause it to be to HIS purposes of Good, which may not be as the suicide bomber thinks it will be.

Rom 8:28 And we know that all things work together for good to them that love God.

ALL things, even man's sinfulness and anger and malice, are made to work GOOD according to His purpose. God may not author the wicked action, but He works it like the threads of a tapestry into a work which His hands are making of His world. We cannot see the overall picture often, even as the underside of a tapestry is just a bunch of chaotic strings, but if you get on top of the tapestry and look down, you see the threads all come out into a lovely and orderly painting. Such is faith in God, a trust in a Greater purpose beyond what we can see when we look at the individual threads now. But theology is not the point of this board, so I didn't want to get into a Biblical discourse, even you said you think I speak faith too much.. at least that is how I took your statement, "i go to church too, but it doesn't mean I have to blather on about it to everyone i meet." I didn't mean to blather on.. I shall try not to let my faith position be too onerous. I am not trying intentionally to be in your face about what I believe.. it is just that it is part of what I am.

Yes, I was provoked by a post which was so anti-American as Sporters. I wasn't being intentionally nasty. I wanted his explanation about why he would post such sentiment by people who are not only anti-American, but have vioated the laws in America and defied the sanctions placed upon that nation. They believe themselves justified, but they are very wrong in some ways in which they speak and act. It was THEM, not Sporter, that frustrated me. I have no issue with him.

Thanks that you think some of my posts worth reading. :) Some of yours have been, too. So have Sporter's.. let's try and get along together.. we are stronger together than sitting in a corner being angry. It is a pretty good board, after all. Sorry for any offense. I meant no harm.

Sincerely,

Sara.

-- June 4, 2005 7:42 PM ∞

Michael wrote:

Hey it is an explosive subject and there are going to be some feelings that come out in the open here. That is what makes this a good board. It is interseting and important to a lot of people. If it wasn't we wouldn't be here would we??
Everyone take a few deep breaths and let us remember why we are here......We do not have to eat dinner together every night...Thank Goodness :))

-- June 4, 2005 10:02 PM ∞

OKIE wrote:

OK...everybody has had their say and made attempts to kiss and make up. This board is populated with a very diverse group of individuals with a variety of opinions. Learn to live with it! That's the nature of a free society. This board is the best one I've found on the Dinar and it's very informative. Keep up the good work...if I don't appreciate your comments...I'll go to the next comment. I'm in Iraq buying Dinar every chance I get and check in with this board and Investors Iraq Forum on a daily basis. Thanks....

-- June 4, 2005 11:31 PM ∞

asim wrote:

Can someone tell me that why are they not allowing the Dianr to trade on Forex? Who stops it? Who decides to peg it at 1460=1$? US or Iraqis? Is it yet another of Rumsfelds methods to make money for his oil companies?

-- June 5, 2005 12:14 AM ∞

Lila wrote:

Ejamm,
Thank-you for your response and the web site. That was very helpful.

P.S. I love posts that tie scripture into all of this. It kinda gives us the hope that when we're looking from the other side of eternity that at least our hearts are seeking God even though our brains are sometimes engaged elsewhere. We're fortunate that God looks upon the heart. Sara, I liked your definition of Breeding. May I use it!
Lila

-- June 5, 2005 12:14 AM ∞

Dean wrote:

I bought 2 million dinars purely on the "buy low sell high" theology.

This whole experience has made me more aware of how different we are as a people.

I didn't even know what a muslim was just a few short years ago.

I thought if you believed in God, You believed in God.

I didn't know there where people on the other side of the world that believed in a different God.

So now I know that I believe my God is God, and they believe their God is God. And They believe my God is Satan, and I believe their God is Satan.

Wow!

This Sucks! From a world perspective.

Freedom to worship your choice of God is the only way to keep peace in the world.

In other words: I won't cast stones at you for worshipping your God, if you don't cast stones at me for worshipping my God. That's Freedom.

If somehow, someway, we can get the Middle East to understand this and accept this "freedom" theology, which is like a theology from outerspace to them right now, we can go a long way toward fixing some of the worlds' major problems.

-- June 5, 2005 12:15 AM ∞

willieinreno wrote:

Proteus- give us a break

-- June 5, 2005 2:07 AM ∞

Millionaire2B wrote:

Dear Sara,
I don't post alot but do enjoy reading this site. I especially have and do appreciate your posts and the time and research you put into them. I just want to encourage you as one Christian to another in love to make sure that you post in humility.
When I read your posts regarding your opinions of the posts of some here, you do tend to come across as very proud and with all respect, self righteous and not Godly righteous. I believe that it's ok to disagree and defend ourselves, just not when we made the first offense. I think that Sporter responded defensively because you came across as attacking to the info he took the time to locate and share--I believe without any ill intent--without asking first why or what he meant or just taking it as sharing of info. Even though most of your posts are also long, you came across as putting his down because you didn't agree with the content of the article.
I just wanted to enourage you to not let all of the encouragement you receive for your hard work, research, and opinions cause you to look down on others because they didn't share info the way you feel they should have--ie Sporter sharing an article for us to read and draw our own conclusions to without his opinion or bias one way or another(sorry Sporter if this isn't what you meant--it's just how I took it). I felt that the article may not have agreed with how we have dealt with Iraq, but it does support helping Iraqis get on their feet(as we all are hoping they will also).
I am not always good at this, but just wanted to encourage you to make sure your'e not picking at a tiny piece of dust in the eyes of others when there might be more in your own (Mtt 7:3).
I truly mean no offense to you; am only hoping to encourage more consideration and thoughtfulness for each other as we are waiting for the D train.:)
M2B

-- June 5, 2005 5:06 AM ∞

Sara Madgid wrote:

I think this relates to our perceptions of the Dinar/insurgency/security situation in Iraq, so I think it worth mentioning.

A Case in point..

As an illustration of how what looks to us like evil and chaos can work toward the good, Carl said that the Sunnis leaving the negotiating table could only be bad news.

http://truckandbarter.com/mt/archives/000502.html#10439
"anytime, you have leaders who are part of an ethic group that was involved in violence before they came to the table,then stops negoiating and leaves the table. That is not what I call a banner day for either side."

I also had to admit that I could not see peace resulting from that and it appeared a dark and hopeless thing... losing the Sunnis from the negotiating table. How could good be the result of such a sinister development? But this brilliant Arabic gentleman who wrote the article I posted yesterday said:

"Much to the relief of Iraq�s emerging leadership, the insurgency has excluded itself form the political process. Unlike other terrorist organizations that use a political fa�ade as an interface with the rest of society, the Iraqi insurgency has opted for a quixotic strategy of seeking a straight-armed victory over the US-led coalition and the new Iraqi regime. By doing so it has limited its own options and alienated a good part of the constituency that might share some of its goals."
http://truckandbarter.com/mt/archives/000502.html#11571

So what appeared to us as a sinister and evil development was a relief which moved toward the goal of defeating the insurgency. Sometimes, we just don't see the Big Picture.. ALL things do work together for the good. We are just limited in how we perceive it because of our human limitations in not being All-Knowing (Omnicient) as God is. What appears as silly religious faith in nothing (I think the words proteus used yesterday were, 'quasi religious justification') at one point in time proves itself to be good sense and right judgement in the long run when all the factors are fully known and revealed to our finite mind. Won't God's judgement of situations revealed at the end of time just blow us away when He explains and CONVINCES us that He was right and we were terribly wrong?

Jud 1:14-15 Behold, the Lord comes with ten thousands of his saints, to execute judgment upon all, and to convince (CONVINCE) all that are ungodly among them of all their ungodly deeds which they have ungodly committed, and of all their hard speeches which ungodly sinners have spoken against Him.

Us finite human beings just won't win in an argument with the Infinite, Omnicient (All-Knowing) God.

Sara.

-- June 5, 2005 7:11 AM ∞

Rommel wrote:

Sara,

It seems you and I share a lot of the same views when it comes to the spiritual side of things. Thank you for your eloquent words from...the Word. =)

Rom 9:21 Or does not the potter have a right over the clay, to make from the same lump one vessel for honorable use and another for common use?
Rom 9:22 What if God, although willing to demonstrate His wrath and to make His power known, endured with much patience vessels of wrath prepared for destruction?
Rom 9:23 And {He did so} to make known the riches of His glory upon vessels of mercy, which He prepared beforehand for glory,
Rom 9:24 {even} us, whom He also called, not from among Jews only, but also from among Gentiles.

Don't forget that God also blessed David in the battlefield. God has allowed war for centuries, for his own reasons and his own divine plans. So then shall I say that I am driven to profit off of other peopes misfortune as you, Proteus, have suggested a general motive for many including yourself? First of all, if you take a look at the big picture, then these peoples "misfortunes", or "bad luck (as defined in Websters Dictionary)", is a divine circumstance. So then we might say that through this divine circumstance, we have a chance to be blessed with a high peg (Ench Alla). I don't view this as an immoral motive. The immorality would be a result of how you decide to use your money, or what you allow it to do to you. Remember, you reap what you sow...and I feel that sowing season will begin soon!

~Tyler

-- June 5, 2005 7:18 AM ∞

EJAMM wrote:

Since I am in the military and a former AF Special Operator I feel some comment is due in response to the post from Rommel "...God has allowed war for centuries, for his own reasons and his own divine plans..."

While in Special Ops we had a saying "We go to foreign exotic lands and meet foreign exotic people and our job is to kill them." Now granted that is not our only purpose but it does bring me to this point. If "God has allowed war for centuries, for his own reasons and his own divine plans" and we are all Gods children...why would he or she "allow" his children to kill each other? War is a horrible chaotic solution to diplomacy, since God (if you believe in God) gave us the ability to speak and reason then it should be glaringly apparent that war is NOT Gods answer to conflict resolution.

With that being said however, as an active duty military member I will continue to fight for the beliefs of my country and the people that represents. If for no other reason than to allow everyone on this posting site an opportunity to express their views.

BTW, I invested in the NID simply because I truly believe Iraq will suceed and the military retirement isn't all that what it should be.

-- June 5, 2005 11:19 AM ∞

Sara Madgid wrote:

Dean, I think what you said is SUPER! You said:

"In other words: I won't cast stones at you for worshipping your God, if you don't cast stones at me for worshipping my God. That's Freedom. If somehow, someway, we can get the Middle East to understand this and accept this "freedom" theology, which is like a theology from outerspace to them right now, we can go a long way toward fixing some of the worlds' major problems."

I certainly see a new wind blowing in the Middle East where, as that Arabic gentleman said, they are "learning to compromise".

"The Iraqi insurgency�s future is dim because Al-Duri and Zarqawi are seeking total power at a time that Iraqi politics, and beyond it the politics of the greater Middle East, are being recast on the basis of power sharing and compromise. Because they want all of power they will end up having none of it."
http://truckandbarter.com/mt/archives/000502.html#11571

The politics of the greater Middle East are being recast on the basis of power sharing and compromise.. in other words, I hope, the very "freedom theology" you just proposed!!! This is good news for those whose views are hated, dispised, attacked and whose very lives are in jeopardy for not being of a certain religious flavor. If the Middle East can just get to the point of having that peaceful enough solution you proposed here of you live what you believe and I live what I believe, there will be a lot less killing going on over there. I think that Commandment not to kill is still relevant today and is meant to be followed, and that God has a respect for that commandment as one of His goals for the Middle East. It is a mark of maturity and good breeding to LET the loudmouth say what you disagree with and not seek to kill him for it. In that, if I might not be seen as prideful, I think our society is a little better bred. I'd like to see them learn a little more tolerance and compromise and become a better bred society. (You are free to use the definition, Lila.. I liked it, too. :) )

Thanks Michael, Okie. :)

Millionarie2B, good point. I should watch my own logs in my eye instead of picking out dust particles in the other guys. I did notice it was self-defense and not a godly practice in one of my posts, though. I guess I have a ways to go to become perfect. Appreciate the kindly meant and truthful words. I wrestle with my own faults, but keep on trying. Hope you can eat the meat and spit out the bones, thanks. :)

"I am a nobody, and nobody is perfect; therefore I am perfect."

Don't worry, I think that funny, not true. ;)

Tyler wrote:

"God has allowed war for centuries, for his own reasons and his own divine plans. we might say that through this divine circumstance, we have a chance to be blessed.. I don't view this as an immoral motive."

I agree, Tyler, I think it is a divine circumstance, for GOOD. The end of the day will show it to have been for the good, not the furthering of immoral motives, Because there really is a God in heaven, as any little child knows. It's only adults get mixed up on that point.. I loved this in that respect:

My friend's 5-year-old granddaughter looked at the stars one night and exclaimed, "God's home! All His lights are on!"

Sara.

-- June 5, 2005 12:37 PM ∞

Sara Madgid wrote:

Proteus and others - this is a theological post to EJAMM about his query about God. He asked so I thought I would give my opinion. It is theology, so just skip to the next post. :)
Sara.

EJAMM;

You stated the truth and asked a good question when you said:

"we are all Gods children...why would he or she "allow" his children to kill each other?... it should be glaringly apparent that war is NOT Gods answer to conflict resolution."

I do so agree with that!! God is the One who wrote "Thou shalt not kill/commit murder" and meant that. So it is glaringly apparent that killing in war was not God's answer to conflict resolution. But we live in a world where people aren't always able to make the wisest, most mature and well bred choices. SOME people would look at your statement I just quoted and say, "oh, so you think God could be a female, hey? Well, our prophet says God is a male, so (taking out a gun and putting it into your face) either give up that belief or prepare to meet your Maker." At that point, explaining to that person that the correct way to deal with the conflict is to let you have your belief and not IMPOSE their belief upon you might not be the wisest choice of action. Indeed, if they were alone in the room with you, and you were properly trained in how to disarm someone (as most cops and military are), your best solution might be to attempt to disarm your assailant rather than reason with them.

The same is true with conflicts between countries. When the conflict comes to the point of gunplay and the nation we are dealing with begins to put their guns up against us, we send in the military and pray our God goes with them to make them ultimately victorious. You are right that it is NOT the answer to conflict resolution, but, hey, how do you react with the gun already drawn and in your face? The Australian Mr. Wood is facing a few people who have a gun in his face because they have a conflict against his country, nothing he has done, and it isn't funny. They are still trying diplomacy there, and I hope they will manage a resolution without his blood being shed.

As to why God allows the killing of people on earth AT ALL, well, it is probably because if God MADE us to all have to be good and incapable of any evil from the factory (as it were), the world would be peaceful but we'd all be robots following our programming. Would you like your spouse to be programmed to love you and not CHOOSE to? It is the same thing with God. He wants good people because they CHOOSE to be good, not because they HAVE to be good. He wants mankind to love Him, but not because they are forced to do so. Many choose to hate God and blame Him for their woes, too. But if He chose the other path, those people may woodenly have offered Him their allegiance and love, but forced obedience without the choice to do the opposite just isn't.. satisfying.

Would you find a forced love from your spouse, your kids, your parents, your friends, just because they HAVE TO love you.. would it be satisfying? Having the ability to choose to do good or evil is why the earth is in the mess it is now... would you have it any other way? God wants us to love Him, it is why He created us, but He won't MAKE anyone do so anymore than you would choose your loved ones to be forced to love you. I believe that is why we have the spinoff result of God allowing the killing of people on earth. Otherwise He must impose His moral will on all of mankind in a way which removes our choice to do the opposite. Instead, He allows us to learn from our mistakes and grow to be more mature. Sometimes it takes a war for a country to learn that maturity just as it takes a fight for some to learn to hold their tempers and come to mutual respect of the other person. (Isn't that why we say "he taught him a lesson" when some fights are over??) It's not God's first will for the fight/war to exist, but it is necessary for some to grow and mature, and He won't build in that maturity into them from the factory.

Glad you are on the Dinar train, AJAMM, and thanks for making it possible for us to post on here without cowering in fear from the guys with guns who don't want us to have that freedom. :) You are right, without people like you, the less tolerant would overrun us and dictate to us how to live, what to believe about God, how much education we are allowed, whether we can drive, if we can vote or run for public office, even how we should dress. Freedom has a price, and we are grateful to those who make our freedoms possible.. like you. :)

Sara.

PS When you say "we are all God's children" I think we all start out that way, but some directly choose NOT to be a child of God's but choose instead to be wicked, going astray even from the womb.

Psa 58:3 The wicked are estranged from the womb: they go astray as soon as they are born, speaking lies.

Some people make definite choices not to love God or follow Him, to be estranged from Him (strangers to Him, perhaps some of those would call themselves atheists, Satanists, etc). In that case, I don't think it is always true that all people are God's children. Some do not wish to be His at all, accordingly, they act the part. Saddam would be one of those; if you read his human rights records, they don't tend to show a man who accorded God's point of view much sway in his heart. In the case of Special Ops, I presume that the persons the Special Ops are sent against are likewise not very peaceloving, moral people who choose willingly to love God and follow His good commandments like Thou Shalt Not Kill and Do Unto Others what you would have them do to you. Special Ops tends to be a military operation against persons whose claim to godliness, love and the fellowship with mankind is very dubious (doubtful). In other words, I don't think Special Ops personnel kill little old churchgoing ladies in their sleep.

-- June 5, 2005 2:30 PM ∞

outlaw wrote:

Hello everyone... Just an observation from a far... It seems that when religion enters the picture...problems occur. Why don't we just keep religion in the churches and mosques where it belongs and talk about the IQD on this site and every thing will be hunky dory???

Reguards,
Outlaw in Iraq.

-- June 5, 2005 4:12 PM ∞

Sara Madgid wrote:

Off topic.. off board?

EJAMM/others;

Since your query (and my reply) kind of made some folks like Outlaw throw up their hands at the religious tone and off topicness (it not being IQD and all), if you want to pursue a theological discussion off board, why don't you just email me directly with any other questions. Anyone else interested in theology is welcome to email me as well. It is a subject I enjoy discussing (obviously). Hopefully that will minimize the distractions to the board which are off the Dinar topic. My addy is saraand-at-fastmail.fm (substitute the at sign for the word).

Sincerely,

Sara.

-- June 5, 2005 5:45 PM ∞

shannon wrote:

Personally, I enjoyed reading the posts, and I suppose I feel that all of 'our directions' in life, are overseen by a power bigger than us. (Even dinar opportunities). Kind of balances a speculative adventure with beliefs, over a broad spectrum. I must say, dinar speculation is being done by many people, from all walks of life. I have appreciated all the flavor this forum has offered, and the personalities, beautifully shown.
This is the first time I have said more than two lines. Waits for thud....

-- June 5, 2005 5:58 PM ∞

HANK wrote:

Outlaw, I couldn't have said it any better.

-- June 5, 2005 7:07 PM ∞

Sara Madgid wrote:

How interesting that the commerce between Iraq and Iran is one billion dollars this year.
Sara.

Iraqi News
Wednesday, June 01, 2005 I
raq and Iran to be linked by railroad

(MENAFN) Iraqi State Television (IST) reported that Iran and Iraq are to be linked by railroad, according to the Islamic Republic News Agency. IST added that a short-term plan envisions a 60 km-long railroad between the cities of Khorramshahr in Iran and the southern Iraqi port of Basra. Another long-term project calls for a railroad to be constructed from Western Iranian city Kermanshah to Iraqi province of Diala. Previously the Iraqi transportation minister had said that Iran, Turkey, Iraq and Syria would be linked by railroad. Once operational the railroad will reduce the cost of traveling for the citizens of these countries and boost economic and trade relations among them. In March, the Iraqi Commerce Minister said that volume of Iran-Iraq transactions would reach one billion dollars in the current year. Talking to reporters on the sidelines of the first exhibition and seminar on Iraq reconstruction, the minister said in the first 10 months of the year, export of goods to Iraq earned the country about $650 million.

http://www.tbiraq.com/menafn_news_bl.asp?inc_name=news_details&n_id=94094

-- June 5, 2005 10:10 PM ∞

Carl wrote:

CONTI OF CHANGES MUST BE MADE WITHIN

Ibrahim Dabdoub, Chief Executive officer of the national bank of Kuwait was being interviewed on the first of June,05. He made some interesting comments regarding his observation on what must happen in the middle east in order for the economic situation within the GCC countries to develop economic liberalization. Some of the comments made, cover areas that relate either indirectly or directly to the economic influences in play, that may effect the future value of the dinar.
I will paraphrase, because if I don't this sucker will be way too long.
He started out by saying deep education and governance reforms are needed along with the economic reforms.
The place to start is a "knowledge based society", in which a quality education is paramount for the well being and progress of a nation.( I believe what he was saying is the Arab Nations,and Clerics have deliberately kept their citizens illiterate to make it easier to control the masses) He states, it is mandatory education reform take place. This will produce a citizen that can think independently, critically and innovatively. Along with education, the Arab World has to become more democratic. They must be governed by institutions and the rule of law. The Arab World has to shift from where only a select few make the important decisions to where it is the population of Arab World that participates in the affairs of their nation."RESPECT FOR THE RULE OF LAW, IS OFTEN LACKING IN THE ARAB WORLD".
He states, he believes the changes will be gradual to avoid a unpredictable process. He is already seeing some changes taking place in a few of the Arab Countries.

SERIOUS REFORM
It is desperately needed to promote growth in the Arab World economies. This has to be done in order to increase employment for their rapidly growing populations. Some of the Arab Countries are starting to to make some serious economic reforms which should incease employment and economic growth. However, some of these reforms lack critical momentum and are limited in scope. He went on to say, the Arab Governments have got to start practicing a hands off policy, and allow their businesses to operate freely, and reduce the bureaucracy.The present Arab World bureaucracies have way too many procedures and cost, which delay projects.

SUBSIDIES
The Arab World leaders must reduce their subsidies which are prevalent throughout the Arab World. When goods and services are subsidies by the Arab governments, then it is impossible for the private companies to compete.(I believe our own government needs to take this advice) History proves that subsidies breed a culture of dependence and reduces people's incentive to invest in themselves by getting a good education and just plain hard work. Presently, a lot of Arab people are on the government "give me list", and will resist any attempt in doing away with them.

THE MENTALITY OF THE YOUNG PEOPLE MUST BE CHANGED
Presently, the young people think the Arab Government owes them a job, and the some of the Arab Countries are still trying to meet that expection. In order to change this, privatization must be enacted and allowed to follow its natural course. When you privitize, the market controls the price and demand. (No one expects this to occur over night.That is why he stated, it is the young people they need to work on in changing attitudes about subsidies)

THE BANKING SITUATION
Most Arab Banks, especially in the Gulf are healthy and have large roles in financing domestic investment for their region. There are a number of banks outside of the Gulf that are also healthy, and follow banking regulations. However, there also some banks that are "controled by the governments" of that particular country.(Does any country name come in mind to you ?)
These banks tend to be less efficient due largely to the government intervention and poor economic environment. History shows, these banks are also used to finance politically motivated projects which are not always in the best interest of their citizens.
Great opportunities await Arab banks if governments are serious about reform.

ECONOMIC INTEGRATION
Presently, the levels of trade and investment between Arab Countries is low. This has held back the region for years, and comes as no suprise to the Arab governments. Despite this knowledge, they have been slow and sometimes outright refused to make the necessary changes to increase the level of trade and develop the regions economy.
In the past, there have been many obstacles to a greater economic integraton. Some were natural and some artificial. Legal and Institutional differences had to be worked out. Sometimes politics get in the way, and these had to be resolved before taking more advancing steps.
It appears despite some of the road blocks,the activity of the Arab Countries is starting to move forward more briskly on two fronts....employment and Capital. Presently, they are starting to see more businesses expand their activities into other Arab markets.

GCC INTEGRATION
It appears that this is becoming more attainable. The GCC countries share similar economic, social and institutional structures.Most are at the same state of economic growth. Plus, there is a commitment at the higher level of government leaderships to create closer relations between these GCC countries. However, it is his opinion, that achievements in the coming few years will be far below expectations.
The GCC governments must first and foremost improve their governance, by increasing political stability, have higher levels of governmental transparency in policy making, and strengthen the rule of law within their judicial systems. Common sense tells you businesses will not put forth any large economic investments, in any country where their investment is at risk.
This is the critical step toward attracting Arab and Foreign Investors to the region.

So from the above statements, it appears Iraq must first get their government stabilized. Bring enough security to the region, so Arab and Foreign businesses will take the chance, and expand their markets to Iraq.
Iraq must assist their private banks, and must put a tremendious amount of effort in educating the younger up coming generation.
The Iraqi government must privitize areas that are now under the control of the existing government.
They must get control of the corruption, which has been a way of life for the people of that area of years and probably decades.
I believe that most of the reforms must take place in Iraq become they will be accepted into the GCC .
Time will tell...

-- June 5, 2005 11:29 PM ∞

BOB wrote:

I believe that God created the world and implemented all the rules of nature and then backed off and let mortals, like us, carry on as we see fit and then be judged upon death. God is not going to help us raise the value of the Dinar, no more than he going to help Notre Dame beat Alabama in football.

I enjoy reading the posts of the religous people but I see no connection to furthering the hopes of the people who have bought Dinars.

God is not going to help us, so lets see what we can do to take advantage of every opportunity to help ourselves and make the dinar move upward.

-- June 6, 2005 12:03 AM ∞

Sara Madgid wrote:

Certainly some show maturity and wisdom.
Sara.

Muslims Dismiss Zarqawi�s Argument
Agencies

CAIRO, 20 May 2005 � Muslims yesterday dismissed the religious justification for killing innocents given by Al-Qaeda�s leader in Iraq.

�This is a deviant notion and Zarqawi, with all due respect, is not an expert on Islamic jurisprudence. His views are illegitimate,� said Saudi Islamic researcher Youssef Al-Dayni.

�These people killed in Iraq are innocent and his description of them as martyrs is of no benefit. He is only trying to find justifications for his terrorism,� said Bahraini Shiite cleric Sheikh Ali Salman.

�It�s his opinion not ours. How can he kill a Muslim and say his is protecting Islam? It�s a sectarian fight or a civil war in Iraq. It is not jihad,� said 40-year-old Khaled Mohsen, waiting at a barber shop in downtown Cairo.

�Any country that is occupied will have a resistance movement,� said Alaa Youssef, 67, a Baghdad soft drinks seller. �But you have to have an honorable resistance instead of one that kills and beheads innocent Iraqi civilians.�

Arab League Secretary-General Amr Moussa voiced his concern over the killings of religious leaders and called on Iraqis to show restraint and avoid a sectarian bloodbath.

http://www.arabnews.com/?page=4§ion=0&article=64056&d=20&m=5&y=2005

-- June 6, 2005 12:15 AM ∞

angel wrote:

Hello all,
Just got back from my honeymoon.Hope you all are doing well and welcome to all the new members.
I have had alot of catching up to do great post to all of you.

Sara,
You have great spirit and a heart of gold.Glad to see you are still here.

Well just wanted to say I'm back and that I am still on the train and didn't forget about all of you and all the great info you have given to all of us.
GO Dinar !!!!!!!!!!

-- June 6, 2005 12:29 AM ∞

James Shamenski wrote:

I am attempting to get into the dinar rush. In my attempt (actually my 12th) I got through to an english speaker at a bank. He informed me that I could not open an account unless i went in person to do so. He explained it with some legal mumbo-jumbo about himself not being able to send documents outside of iraq.
Q1. Is this everybody's experience?
Q2. Can I somehow create an account in Iraq if I live in canada?
Q3. If I can't open up an account what is the next best option? And I hope it's better than paying $800US for some bills online.
Cheers,
. James -- James@Theepc.com

-- June 6, 2005 5:19 AM ∞

Andrew wrote:

I agree Outlaw!

-- June 6, 2005 6:52 AM ∞

Realtor wrote:

this may have been posted earlier, if so sorry.
http://www.azzaman.com/english/index.asp?fname=news/2005-06-03/10394.htm

just copy and paste

-- June 6, 2005 8:36 AM ∞

Sara Madgid wrote:

Realtor;

That is such a GREAT article, and so relevant to the board, I wish to reproduce it in full for the board, if you don't mind. :)

Sara.

Iraqi dinar defies spiraling violence
By Intisar Maki
Azzaman, June 3, 2005

The upsurge in violence has worsened conditions for almost everyone and everything in Iraq, but the new currency.

The Iraqi dinar is the winner as it has so far weathered the impact of mounting violence and car bombs that would have sent any other country�s currency tumbling.

Since its launch in October, 2003, the new dinar has preserved its value vis-�-vis the U.S. dollar and other major countries.

It is probably the only symbol of stability in a car torn by wars, civil strife and violence.

However, Iraqi economists are not surprised to see the currency fending off the political turmoil and the descent into violence, a major characteristic of the past two��0D

Thanks, they say, are mainly due to the Central Bank, which is one of the few government branches of the post-war era untainted by corruption.

�The (central) bank has pursued sound monetary policies,� says Thuraya Khazraji, Baghdad University�s professors of economics.

Other factors leading to the currency�s stability, in her opinion, include �the slight improvement in oil exports and the writing off of 90% of Iraq�s foreign debts.�

In the 1970s one Iraqi dinar was worth more than three U.S. dollars as Central Bank coffers were then stashed with hard cash, gold and other assets to support the currency.

But the dinar started losing its shine in early 1980s mainly due to the 1980-1988 Iraq-Iran war.

And the currency began to decline drastically after the 1990 invasion of Kuwait and plunged to nearly 3,000 to one U.S. dollar in mid 1990s.

A new currency was launched shortly after the fall of the former regime.

While Iraqis had no trust in the former currency, confidence is growing in the new dinar which is currently changing hands at about 1,400 for one U.S. dollar.

�The adoption of new monetary policies by the Central Bank � has led to higher confidence locally, regionally and internationally in the new currency,� said Khazraji.

Imad Ali, professor of fiscal economics at Baghdad University, said many Iraqis were even turning to have their savings in the new dinar instead of foreign currencies.

�The issuing of the new currency has been very important for the Iraqi economy � it has offered Iraqis their first chance in nearly two decades to have their savings in the dinar rather than other hard currencies,� he said.

Ali also praised Central Bank policies and its attempts to stabilize the currency.

�Today demand for the dinar is higher than foreign currencies inside Iraq. The (central) bank�s polices have given a big boost to the dinar,� he said.

Yahya Najar, of Baghdad University�s College of Economics and Administration, said the new currency �is backed by foreign cash and gold and has earned the trust of the public.�

The currency�s stability has been good news to public sector employees who have seen substantial hikes in both wages and purchasing power.

The civil service is the largest employer in the country with some five million Iraqis receiving monthly salaries from the government.

Under Saddam Hussein the average monthly salary of a civil servant was 7,500 dinars (about three U.S. dollars).

Today it has ballooned to nearly 300,000 (about $200).

http://www.azzaman.com/english/index.asp?fname=news/2005-06-03/10394.htm

-- June 6, 2005 10:04 AM ∞

RON wrote:

Hi all
Hello carl,as always a very good post.We as a whole can not please everyone,so we do the best we can.The nid train is a come together place for all our thoughts.It is up to each person to chew on and get their own food for thought from.I like most of the posts here,and the ones I don't I just skip over.This is a very informative thread to me to get my up to date information on the nid news.We are all winners here already,just meeting and finding one another to talk to.Everyone please keep up the good work,and thank you very, very much for your hard work.
Good luck to all,Ron

-- June 6, 2005 11:10 AM ∞

Sara Madgid wrote:

James Shamenski;

As I mentioned in an earlier post (full text at):
http://truckandbarter.com/mt/archives/000502.html#11104

My friend said of the fellow he dealt with in Jordan that he "had told me earlier that his contact in Iraq would have to open the account with me as a partner to that account. He said that I could not open an account in Iraq alone, because I was not an Iraqi citizen. And, he will only deal with his contact at the Central Bank of Iraq. He actually owns a business in Jordan and the Jordanian government allows him to purchase the dinar in Iraq. The Jordanian government would never allow someone to sell Iraqi dinar if they even SUSPECTED that they would be supporting the Iraqi insurgents. That is the reason that I use this guy and no one else."

So you are right when you say that the bank contact told you....quote:

"He informed me that I could not open an account unless i went in person to do so."

That is why many chose to actually take the Dinars physically, rather than go through a (perhaps risky??) contact in Iraq. It's your call how you go about it.

Angel !!!!!!

Congrats to you and your new hubby!! I do hope the honeymoon was great for you, glad to have you back. :) Yes, quite a few posts since you were here last.. but lots of good wading in it. Happy reading! Go Dinar! :)

And thanks Carl.. :)

As always, good intellectual food for chewing on about Iraq, the GCC and Dinars.. do so appreciate your efforts. :)

Sara.

-- June 6, 2005 12:04 PM ∞

just getting on the train wrote:

Just by reading, I know no one really knows when the NID will peg. But I would like to know if you think it is soon? I have just recently purchased some dinar and I am really excited about it. I read in one of the articles where the thought it might peg in June 2005. Did I read this right?

-- June 6, 2005 3:20 PM ∞

Ian wrote:

Movement in the wrong direction..

Monday, June 6, 2005
1 US Dollar = 1,536.60 Iraqi Dinar
1 Iraqi Dinar (IQD) = 0.0006508 US Dollar (USD

Oanda.com

-- June 6, 2005 4:08 PM ∞

Sara Madgid wrote:

Ian;

I just checked here:
http://www.tbiraq.com/menafn_currencies_bl.asp
US Dollar ( USD ) 1529.052 by Trade Bank of Iraq
Been about that for some time, off and on.
It doesn't fluctuate that much.

This one: http://www.oanda.com/convert/classic
Says 1 US Dollar (USD) = 1,405.70 Iraqi Dinar (IQD)

I don't think it means much before it pegs.
Watching it for movement is a waste of time,
like watching the Argentine peso before it was pegged,
it stayed pretty stable and was valued at 3X the value.
http://truckandbarter.com/mt/archives/000502.html#11480

Sara.

-- June 6, 2005 5:35 PM ∞

Dean wrote:

As a Christian guy, I sometimes wonder why I got involved with this dinar thing.

Is it because I'm a greedy sinner?

Or is it because God led me to this and wants me to prospher?

You know what? I really think the answer is:

BOTH. Hee...Hee....

-- June 6, 2005 10:18 PM ∞

Sara Madgid wrote:

Dean;

As I mentioned in another post, 81% of the population believes in God. As a result, from time to time, the belief in God does come up in our conversations. It is hard when it affects and is important to so many lives to just "leave it at church/mosque" as Outlaw/Hank, etc might wish. It is a way of life for people of faith to take into account God in all of life. So although we who are people of faith try to respect the minority point of view and not offend those who do not hold to any faith in God, it does seem artificial to remove all discussion of the spiritual from any issue at hand. Our worldview dictates that we see all of life as being derived not from some primorial goop, but from the hands of an Intelligent Creator. Therefore, all things flow from His hands and have meaning in our lives and relate to our faith. Like you, and perhaps about 80 percent of this board, I relate to the faith aspect when it is shared and wonder about God and His viewpoint as it relates to the Dinar and Iraq. With respect to those who differ from our viewpoint of faith, I think we try not to be "in your face" with what we believe, but we do deserve the right to give expression to those thoughts (within reason). We are just sharing what is an integral part of our lives and by doing so we mean no disrespect to those who do not partake of that life and faith. It is just that it is as normal and natural to those of us who are of faith as breathing... when you find yourself in an ocean, living, moving and breathing in it, it is hard to not see the water everywhere you go.

Act 17:27-29 ...the Lord... is not far from each one of us; for in him we live, and move, and have our being; as also some of your own poets have said, "For we are also His offspring". Therefore, since we are the offspring of God...."

Thud.. thanks Shannon, nice comment. :)

Sara.

-- June 7, 2005 9:28 AM ∞

Sara Madgid wrote:

Just Getting On The Train;

I didn't see your post until now. Sometimes, when you send a comment that is to be moderated, our friend Kevin (who moderates the comments for us) doesn't get to the comments for a few hours and when he posts them on the board, they "back post" and turn up wayyyy back on the board, as your post did this morning. So once in a while you need to go back and reread what you thought was the past posts looking to see if some new posts were backposted, or you might miss some things. Also, those who post and get no reply, that could be why no one responded, they only read what was the "new" posts down the bottom and didn't check for your backpost further up the page in the postings.

As to your inquiry about when it will peg, June??? I talked to my friend who gets his Dinar from a supplier in Jordan and his supplier has confirmed that they will no longer be able to supply Dinar by the end of June. The post on Investor's Iraq about the US seizing 300 million in Dinar at the border, found here:

http://www.investorsiraq.com/showthread.php?t=5965

I believe that this shows that the stopping of funds being freely sent over the boarder has happened, and now that the Jordanians are about to lose the ability to bring Dinar back to Jordan across the border, ending their trade in Dinar (and I have found that MOST Dinar sellers at this point are selling to us from out of Jordan), I think that the Dinar train is closing its doors. One does have to wonder if these are indications that the Dinar train might start moving soon, as most trains do start to move after the doors are shut.

Sara.

-- June 7, 2005 9:57 AM ∞

Michael wrote:

Hey Sara I tried to go to the Invest IRAQ Dinar site and I couldn't register for some reason. They asked for a referral. Does that make sense to you??
Since I don't like to be denied anything I typed Sara...and was refused. Not to sound like a moron here but WTF???

-- June 7, 2005 11:15 AM ∞

Sara Madgid wrote:

Michael;

I'm not registered on Investors Iraq. Obviously, since I have never posted there, referring to my name on that board as a referral is referring to a nobody.. :)

They have no clue who I am since I am not registered with them.. perhaps they require you to refer to someone who is already a poster on their Investors Iraq board?? Sorry, I don't know the process, and I don't know anyone personally who posts there.

Sara.

Amusing quote I saw on the net:

"Fine: A tax for doing wrong. Tax: A fine for doing well."

-- June 7, 2005 11:52 AM ∞

Sara Madgid wrote:

This says that 50% of the Insurgents are now back at the table..
Sara.

Politician claims two Iraqi rebel groups agree to dialogue with government
(AP)
7 June 2005

BAGHDAD - A Sunni Arab politician claimed on Tuesday that two insurgent groups were ready to open talks with the government and eventually lay down their arms and join the political process.

The disclosure by Ayham al-Samarie was the first time any Iraqi politician has publicly acknowledged contacting Iraq�s militants. It also opened a new front in ongoing efforts to counter the Sunni-dominated insurgency wracking much of Iraq since 2003.

Al-Samarie, a graduate of the Illinois Institute of Technology who has a dual US-Iraqi citizenship, said the two groups were the Islamic Army in Iraq and the Army of Mujahedeen, or holy warriors. He said he had not met any of their field commanders but began contacting their political leaders about five months ago. He did not name them.

Speaking to The Associated Press in an interview, he said the two factions represented more than 50 percent of the �resistance,� the term used by many in Iraq to exclude militant groups working with Jordanian-born Abu Musab al-Zarqawi of Al Qaeda in Iraq and others who target civilians as well as Iraq�s security forces.

Al-Samarie, a former electricity minister in Iraq�s two former postwar interim governments, said there was no agreement for the two groups to lay down their weapons or declare a cease-fire, but that a truce with a limited duration could possibly be arranged to prove their goodwill after talks get underway.

�We told them that no one knows what you want. You say you want the occupier to leave Iraq but what do you want after that? You must have a political agenda. You must come out to the political arena and make clear what you want�,� said al-Samarie.

�They set no conditions and we agreed with them that the time has come for them to come out,� he added, but would not disclose who else was involved. Al-Samarie also announced the news about the two groups on the Dubai-based Al-Arabiya satellite TV station, saying their representatives would be part of an umbrella group he is forming.

Several Sunni Arab organizations and political groups, like the influential Association of Muslim Scholars, have long been suspected of having links with the insurgency.

�The new thing here is that the resistance has decided to come out in person rather than have others speaking on its behalf,� said al-Samarie, who spoke at his home in an upscale Baghdad neighborhood.

He said he had run the idea of bringing insurgency factions into the political fold past several US officials during a visit to Washington last month.

He claimed to have discussed it with National Security Adviser Stephen Hadley and senior State Department official Richard Jones, who served as a deputy to Iraq�s former US governor L. Paul Bremmer. He said he was encouraged by their reaction.

�The Americans are very practical. They don�t want the loss in Iraq of their sons and daughters to continue,� said al-Samarie. �I don�t think we will have a problem with the multinational force either,� he said, alluding to the US-dominated, 160,000-strong multinational force in Iraq.

He said he had sometime ago informally told members of al-Jaafari�s Shiite-dominated government of his intentions to contact the insurgents.

�I have received various reactions from them, but none were too strong,� he said. There has been no public reaction from the government to his announcement on al-Arabiya.

�I think they�ll bless this move. The government must take this initiative seriously and start talking to these brothers (from the insurgency) to solve Iraq�s problems,� he said, adding that the government was divided over whether contacts should be made with insurgents.

Laith Kuba, a spokesman for Prime Minister Ibrahim al-Jaafari, declined to comment on the report, saying he only became aware of it through the media.

A spokesman for the Supreme Council of the Islamic Revolution in Iraq, the largest Shiite political party and a key part of the governing alliance, would only say that his party was prepared to talk to any group - except terrorists and remnants of Saddam�s regime.

He said representatives of the two insurgency groups would attend a meeting of his new umbrella group later this month in restive Anbar province, and that he planned to ask Iraqi and US military authorities to guarantee their safety.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June39.xml§ion=focusoniraq

-- June 7, 2005 1:25 PM ∞

angel wrote:

I have a friend who needs to unload 900,000 NID.If anyone is interested please email me at angelmm-at-bellsouth.net

-- June 7, 2005 1:27 PM ∞

MIchael wrote:

Sara another question for you. If you would please explain or discuss the in and outs of the IRAQ government changing the currency. It seems as if a lot of people are concerned about this. I personally don't believe it will happen. I am curious to know your views or if you would send me the link as to where you have previously explained this I would be most appreciative.

-- June 7, 2005 2:03 PM ∞

Sara Madgid wrote:

Michael;

A couple of previous posts about the possible change in Iraqi currency..

http://truckandbarter.com/mt/archives/000502.html#9626

This one the part I wanted to draw your attention to is in the PS after the post to JB;

http://truckandbarter.com/mt/archives/000502.html#11555

Those are some views on it, my thoughts and an Iraqi Bank Manager's.

Sara.

-- June 7, 2005 2:29 PM ∞

BOB wrote:

Thanks for all the great posts, I enjoy them so much. Carl, Sara, Michael, Ron, all of you that do the research.

Reasonable people can disagree but remain friends, so I ask that you consider the following:
Someone is wrong, Muslins worship a God that is
different from our God. Someone is wrong.
Is it the people who believe strongest and if
so how can anyone believe stronger than to
blow themselves up for their religion.

I go back to a previous post and say: God put us here and gave us a mind to conduct our lives as we see fit and when we die he will evaluate the worth of our conduct.

As you know, the Jews in Isrial do not believe that Jesus was the Messiah.

Since we have some Theologians on our Board, I wish that you would address these issues since we are destined to talk a little religion.

-- June 7, 2005 11:28 PM ∞

monky wrote:

Dinar dupe: currency con man touts value of Iraqi money

BRAD EDWARDS reports

Updated: May 18, 2004 7:39 AM

When the U.S. cleaned out the Saddam Hussein regime in Iraq, not only did the statues of the former leader disappear, so did his picture on the Iraqi money.

New paper money called dinars was printed last year and Paul Bremer, America's civilian administrator in Iraq, introduced it.

"They will replace the existing Iraqi print dinars at parity," one scammer tells an unsuspecting victim.

And now someone is selling that new, but almost worthless currency, here in the U.S. It takes 1,457 dinars to make 1 U.S. dollar.

The sales pitch is that as soon as Iraq takes over it's own government, scheduled for June 30, the currency will start to climb in value. A senior citizen viewer who does not want to be identified said a fellow church member talked her into investing in the new Iraqi money and paying $87 U.S. dollars for each investment package.

But, is it legitimate and will it increase in value to $16,000 after Iraqis take over June 30th. But, is it a legitimate investment? Our senior citizen sure could use the money to help buy her medicines.

I checked at the Bank of Oklahoma that exchanges foreign currency. Senior vice president Paula Barrington said there is a new currency in Iraq, but there's no market for it anywhere else.

"Uou can buy euros and go on a trip and come back," she said. "You can exchange those any day of the week, right here at our teller line. There's a market for those. There's not a market for the dinar and to hope that there's going to be one is anyone's guess. But, as I said, I think it's extremely speculative."

No one can predict if the dinar will be worth more than you paid in the near future, making it an unwise investment for people who don't have money that they won't miss when it's gone.

I'm Brad Edwards, In Your Corner.

Brad said it's not necessarily illegal for people to buy or sell Iraqi currency. But, here's the problem: the senior citizen Brad talked to paid $87 for a package of Iraqi money. In reality, even under the best conditions, that money would probably only be worth $24.

-- June 8, 2005 2:16 AM ∞

monky wrote:

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Stupid currency tricks: Iraqi dinar
I'm considering buying Iraqi currency as an investment. Is that a good idea?
August 10, 2004: 10:13 AM EDT
By Walter Updegrave, CNN/Money contributing columnist

NEW YORK (CNN/Money) - I'm considering buying Iraqi currency as an investment. Is that a good idea?

� Ray Hammond, Dayton, Texas

Judging by the number of pitches I see from Web sites flogging the new Iraqi currency, not to mention dozens of people on eBay, there are at least some people out there who think investing in the Iraqi dinar that was introduced last October makes sense.

My take is unequivocal. Given the difficulty of predicting currency movements, I'm not even a big proponent of investing in established currencies like the euro or the yen.

And when it comes to buying and selling the fledgling currency of a fledgling government in one of the most chaotic parts of the world, that goes beyond mere speculation. I'd call it gambling.

The main argument for buying the dinar, of course, is that Iraq has vast oil and natural gas reserves at a time when energy prices are climbing. If the country gets its political act together, it could profit in a big way.

I hope things work out that way, but it's a big, big if.

And even if it does, there's no guarantee it will be able to run an economy that keeps inflation -- a major risk for currency values -- under control.

Of course, where there's great risk and uncertainty, there's also the potential for great reward. But I'd be wary of some of the information out there.

One site I visited had a chart showing the historical value of the dinar from 1932 through 1982 fluctuating between just under $5 and just under $3 per dinar. Gee, the dinar is now worth only $0.0007. Could you imagine if it made it back anywhere close to its historical range? Why you'd make a killing! Even if the dinar climbed in value to just one cent, that would represent a 1,329% return!!! Surely, it can go up at least a penny.

Really? If that's a sane rationale for investing in a currency, then why not buy the Turkish lira, which trades at $0.0000007?

Fact is, it's the economic prospects for a country that determine the future value of its currency, not the price it trades at now or the price it traded at in the past. And no matter how low a value a currency reaches, it can always go lower.

One final thing to consider if you're still thinking about investing in dinars is liquidity.

At this point, there's not a particularly organized market for them. You can get an exchange quote for dinars by going to the currency section of Bloomberg or Yahoo Finance, but the rate you'll pay varies substantially from one seller to the next.

As for selling any dinars you buy, good luck.

Frank Trotter, an executive with Everbank, the online bank that offers small investors savings and money-market accounts denominated in a variety of foreign currencies (but not Iraqi dinars) told me that his trading desk surveyed several of the online dealers posing as someone who owned dinars and wanted to sell them.

"We received no bids," said Trotter. "We haven't seen a legitimate market in terms of trading it."

That could change, of course, but probably only if the political and economic situation stabilizes. So if you want to sell dinars, for now you're pretty much relegated to eBay.

My view is that if you want to spend a few bucks to acquire Iraqi dinar as a novelty item or you want to gamble with money you can well afford to lose, that's fine. Enjoy yourself. But you shouldn't even think of making something this iffy a part of your investment portfolio.

Walter Updegrave is a senior editor at MONEY Magazine and is the author of "We're Not in Kansas Anymore: Strategies for Retiring Rich in a Totally Changed World."

-- June 8, 2005 2:19 AM ∞

monky wrote:

A number of people have begun touting so-called "investment" opportunities in the Iraq Dinar as a "sure way" to make a lot of money with little or no risk. Many of our clients have asked our opinion on the legitimacy of this.

Is "investing" in the Iraq Dinar a sure way to profit? We don't think so. In our opinion, buying the Iraq Dinar is a high risk investment with a poor outlook.

A Little History

The official rate of the old Iraq Dinar, $3.22 USD (U.S. Dollars), was set in 1982 by Saddam Hussein. The old Iraq Dinar could not be freely traded, so this rate was never tested or upheld on the world market.

The current Iraq Dinar (IQD) was introduced between October 2003 and January 2004 by the Coalition Provisional Authority in close consultation with financial experts from Iraq and the international community. The IQD is currently valued at a little less than seven hundredths of a US cent. (1 USD = 1460 IQD). The old "Saddam" Dinar has no current value and is worth only what a collector is willing to pay for it.

What's Happening Now?

The IQD is not freely traded, and is not being used in any significant international transactions. We are unable to locate any official bank or foreign exchange office outside of Iraq that will exchange the IQD.

The IQD trades on a very small, tightly controlled exchange. The total volume of IQD traded by the Central Bank of Iraq is in the thousands of dollars, compared to the $1,900 billion dollars traded on the Foreign exchange market every day. This small number of trades makes the IQD's value effectively immaterial.

The Central Bank of Iraq's stated objective is not to promote the free trade of IQD, as is the case in a true free market economy, but rather to keep the value of the IQD stable. The only way the Bank can ensure the semblance of stability is by tightly controlling the exchange of IQD on the market, and by ensuring that the currency cannot freely trade on the open market. They evidently fear that open trading of the IQD would lead to a rout in which the value of the IQD would sink to practically nothing.

Consider the situation. Why tightly control the trading of the IQD if it is likely to appreciate in value? If the value of the IQD were to surge, this could be held out as evidence of a surge of confidence in Iraq's economy. So why not open the IQD to free trading? Why would this be done unless the Iraqi Central Bank itself feels that the IQD would decline in value in a free market?

A Snapshot of Iraq Today

The current situation in Iraq is pretty grim:

Over a decade of international economic sanctions and a devastating war has left the infrastructure in tatters
$125 billion of external debt
Millions of dollars in post-war debt
No stable government
Insurgency steadily on the rise
Oil facilities and pipelines are sabotaged regularly
International observers predict out-and-out civil war
These aren't the kind of conditions typically conducive to the creation of booming economies. More to the point -- a 450,000% increase in the value of the IQD (as predicted by some of its promoters) seems ridiculous in the face of these challenges.

But Surely There's Oil Under Those Dunes?

A lot of the hype over the IQD centers around Iraq's vast oil reserves and their supposed economic value. The oil market is extremely unpredictable. An economy based on oil alone (oil makes up 95% of Iraq's foreign exchange earnings), will mirror that unpredictability. Let's look at a real-world example: Venezuela.

Oil accounts for 80% of Venezuela's national exports and 50% of its government revenues. The country is one of the world's top five oil producers. In the last four years, Venezuela has experienced intense political instability, including an oil strike and an attempted coup d'�tat. The resulting economic chaos has led to the extreme devaluation of the Venezuelan Bolivar -- today, it is worth only about a third of its US Dollar value from January 2000, and only about a quarter of its Euro value from January 2000.

Investing in a country's currency is tantamount to investing in that country's economy as a whole, not in any single commodity. Investing in the Iraq Dinar is not the same as investing in Iraq's oil.

But What About Kuwait?

Promoters of the IQD like to compare Iraq now to post-Gulf War Kuwait -- but this is comparing apples to oranges.

Before the Gulf War, Kuwait had a stable government and its foreign investments generated more income for its economy than its oil did. After the war, despite losing a third of its pre-war investment portfolio (over $100 billion USD), Kuwait still had a solvent economy, a stable government, and an intact infrastructure. Of course its currency increased.

In comparison, Iraq entered the war with a $125 billion USD debt, has almost no infrastructure, no stable government, and no other foreign income except its oil -- the vulnerability and unpredictability of which we have already pointed out. The outlook for its economy and the IQD is grim for the foreseeable future.

In late 2004, the US was successful in convincing some foreign creditors to "forgive" some of Iraq's debt. However, debt forgiveness is seldom a blessing, and generally comes at a very heavy price. Other countries whose foreign debts have been "forgiven" have found it nearly impossible to generate any foreign investment afterwards. Think about it: how would you feel about investing in Iraq again if you lost your entire investment (i.e. you "forgave" it) last time?

If it Sounds Too Good to be True...

Ask yourself one question: if the Iraq Dinar is such a hot commodity, why would anyone in the know be willing to sell it to you? If you thought that the IQD was going to multiply in worth by hundreds of thousands of percent, would you sell it? Of course not -- you'd be too busy buying as much of it as you could.

But if you thought that the IQD was going to go down in value over time, well, then you might start trying to convince people that it was a "great deal" so that you could get rid of all of yours before it nose dives.

Remember the old saying: if it sounds too good to be true, it probably is. Be careful!

More Information

Additional information on this issue can be found through the following links:

May 18, 2004: Dinar Dupe: Currency Con Man Touts Value of Iraqi Money (NBC/KFOR)
Jun 15, 2004: Dinar Falls Victim to Violence (IPS)
Aug 10, 2004: Stupid Currency Tricks: Iraqi Dinar (CNN)
If you are aware of any other helpful IQD media coverage, please e-mail us at: iqd@xe.com

-- June 8, 2005 2:21 AM ∞

Carl on Wilson Lake wrote:

Bob:
I understand why you addressed the issue of religion, however, I also was on the board, when things got out of hand, discussing religion. It drove several good boarders away, as it got so bad.
Everyone of us have different Ideas of their concept about their faith( why there are baptist, catholics, church of Christ, wickens, menonites, amish, etc) and how the "Big Bang" came about.
A lot of those concepts create emotional conflict with each other on this board, and it turns into name calling.
I feel we should keep the subject of religion in general off the board unless, it relates to the dinar or area, that you are writing about in that particular post.
Now!!! since you addressed your statement about the muslims worshiping a different god, let me say this.
Religion can be used in many different ways. Why because it creates a primal emotion? You stated, "Someone was Wrong" I can already give you my concepted anwser to that statement, however, it is my concept which is the basic issue of the problem.
When I give my concept to your statement, the answer is only my concept of what is wrong. Other words what feels true to me.If Sara, gives you a answer, she will respond with what feels true to her. If michael, or ron gives a answer,it is what feels true to them, which is created by which ever faith they follow or what influences their social environment has played into their life. All of the feelings are true to each that wrote their reply to "someone is wrong". Thus, we come in full circle, again, without truly knowing the answer, just a concept of the answer.
This is one of the problems that we see in the middle east. Each of those individuals that we call insurgencies have their own concept of what is true.They feel just as strongly about their concept of truth, as you or I do. The problem is they wish to kill you for believing in your concept of true.
Some believe in the concept of "One God". Some "many gods". Who is wrong or right depends who which side of the fence you are standing on. The concept is not the problem, as you can debate that until the day you transfer to the other side.The problem is intolerance of the each's concept, and the concept of what their belief is, that God wants or expects from mankind.
If you noticed, I stated away from quoting scripture from "any faith" here, as that just creates emotion one way or the other. I do not wish to take away from what I am trying to get across here.
If you wish to discuss faith in general and each concept of a particular faith simply address the issue privately to the individual you want discuss it with, and it can be done off of the board.

-- June 8, 2005 7:16 AM ∞

EJAMM wrote:

Monky,
Consider this, at approximately 1100 NID to the dollar you will have made your initial investment back (depending of course on the price you bought in). Even if a person doesn't get rich beyond believe they still have made an investment in a country on the verge of blossoming. The insurgency will eventually boil down to just the extremely hard core radicals, this I am certain. In any event people can feel a sense of pride to know they help a country stand on it's own two feet.

-- June 8, 2005 9:34 AM ∞

Carl on Wilson Lake wrote:

Monky:
All of the post you put forward have very valid points.
I don't believe the articles posted have put forth any additional knowledge the dinar investors on this board have not researched, or realized.
With that said, I, as a self proclaimed certified dinar investor, who presently have in my procession a reserve ticket on the dinar train, would fight ya if you attempted to take it away.
You see, I not only invested in the Iraqi people, for whatever the heck that means, but I also reserved me a small "heckter of land" in the "cloud of Hope".
I enjoy looking at my small acreage, and believing that one day, which may be 6 months or 10 years from now, it may turn into something of significant value.
There is one thing for certain...
I know 100% what my chances are of partcipating in the dinar increase value if I don't invest in the dinar.
You will find that most dinar investors, usually have the guts to cross "the swinging bridge of uncertainity" to get to the promise land.
No regrets here...........

-- June 8, 2005 9:37 AM ∞

Johnny Cash wrote:

Institute for War and Peace - Iraq�s Rock-Steady Currency

Central bank builds confidence in the dinar by intervening to maintain the exchange rate.

By Mussadaq Matar Aofi in Baghdad (ICR No. 127, 08-Jun-05)

If Iraqis have one solid economic achievement to hold on to amid their many problems, it is the strength of their currency, which some feared would be devalued out of existence in the months that followed the fall of Saddam Hussein in March 2003.

The dinar�s current nominal value of 1,465 to the benchmark US dollar is virtually unchanged from January 2004, when the introduction of new banknotes to replace the Saddam-era denominations was completed.

Sadoon Hamoud Kathir, professor of economics and administration at the University of Baghdad, attributes this remarkable level of stability to sound government policies � specifically the transformation of the Central Bank of Iraq, CBI, into an independent body, which took place at the same time the new banknotes were issued.

�The most important move the cabinet made was to separate the authority responsible for monetary emission from the government and to make it independent,� said Kathir.

Under Saddam Hussein, the CBI was simply an arm of the executive authority, churning out more banknotes or extending unlimited credit to the government whenever the latter needed money.

The dinar, too, enjoyed less and less credibility because of Saddam�s policy of printing it like Monopoly money coupled with hyperinflation in the economy. An added problem for Iraq�s post-Saddam administrators was that the Kurdish region, which was effectively autonomous from the rest of Iraq after 1991, had been using its own separate version of the dinar.

With the change to new banknotes, which took place between October 2004 and January 2004, the government had to put its own house in order and start making the bulk of domestic expenditure in dinars rather than US dollars.

Establishing a stable currency was central to creating confidence in the CBI as an independent and credible institution, and remains so.

�The CBI�s goal is to restore the stability of the Iraqi dinar against other currencies,� said an official from the bank speaking on condition of anonymity.

In theory, the exchange rate is free floating, dependent on supply and demand on the foreign currency market. But as Firas Jabbar, a financial analyst with the Romata Investment Company, explained, dinar stability has been achieved through some robust intervention by the CBI, buying and selling dollars to keep the rate steady.

Jabbar has confidence both in this proactive approach to monetary policy and in the stability of the Iraqi money market.

�I�m very optimistic about the current situation,� he said. �And I have confidence in the economic policy of the new government.�

Apart from the fact that Iraqis are generally comfortable using their national currency because they can reasonably assume the exchange rate is not going to suddenly rocket out of control, dinar stability brings other economic benefits.

Businessmen are happy because the price they pay for imported goods remains steady. As Ali Hussein, who sells footwear wholesale to traders at the al-Shorja market in Baghdad, says he does well out of exchange-rate stability.

�The current exchange rate is OK compared with Iraqis� income,� he said. �In the coming period, I expect the currency to appreciate to 1,000 dinars to the dollar.�

Hussein�s optimism about the dinar�s potential to appreciate in value is shared by economist Kathir, who said if the government continues to pursue prudent policies, the exchange rate could shift to 500 dinars to the dollar.

But it is important to note that such nominal values are less important as a measure than the real exchange rate, which takes price rises into account. Dinar stability against the dollar will mean little to consumers if inflation makes shop prices unaffordable.

Curbing inflation, therefore, remains a central plank of monetary policy. In May, CBI governor Sinan al-Shabibi was quoted by Reuters as forecasting that the inflation rate, estimated at 30 per cent in 2004, could fall to 20 per cent this year. The CBI currently estimates annual inflation at around 17 per cent.

Mustafa al-Azawi, who describes himself as an average consumer, said currency stability was unimportant because inflation still made things costly.

�Although the dinar has appreciated [since 1993], everything is still expensive,� he said.

Mussadaq Matar Aofi is an IWPR trainee in Baghdad.

-- June 8, 2005 10:24 AM ∞

Johnny Cash wrote:

Iraqis eye credit to boost economy
By Neil MacDonald, The Christian Science Monitor
BAGHDAD � Shoppers in Baghdad no longer need to carry plastic bags full of cash, as they did after years of international sanctions reduced the value of a 10,000-dinar note with Saddam Hussein's likeness to less than $5.
A year-and-a-half ago, the Central Bank of Iraq (CBI) began issuing higher-value currency notes. And it is now trying to help stimulate business around the country by reintroducing coins.

But finance officials eager to move Iraq away from a heavily cash-based society have set their sights on a more ambitious goal: developing banking networks that will allow a shift to an electronic, largely credit-based economy.

Doing away with cash as the main form of payment would reduce the threat of highway robbery, which hinders fund transfers within the country, some bankers say. And in turn, a reliable network for electronic transactions would undercut an insurgency eager to deal in cash and spur reconstruction, finance officials say.

"Your money can't really be stolen when you carry it as a credit card," says CBI governor Sinan al-Shabibi.

Credit cards, like electronic fund transfers, are still a largely theoretical concept here. But with the CBI's help, many of Iraq's banks are buying computers for the first time, while staff members are being trained in Dubai and Jordan in global banking practices.

Revamped financial services will be essential for kicking reconstruction into a higher gear at ground level, says Bill Taylor, director of the Iraq Reconstruction Management Office (IRMO).

"The banking system is going to be the key to private-sector investment in this country, after security," Mr. Taylor says.

Contractors on U.S.-funded reconstruction projects � including some U.S. companies � are already turning to the local banking system as an alternative to carrying large amounts of cash on planes, bank executive Munther al-Fettal says.

Through ties to banks in neighboring countries, some Iraqi banks can extend small-scale letters of credit to local investors. But repairing the banking system properly can happen only with major injections of foreign funds and expertise.

"If reconstruction starts briskly, and if the private sector is going to be involved in this, then we will need financial intermediation," Mr. Shabibi says.

The CBI governor, along with Ministry of Finance officials, wants foreign banks to start working in the war-ravaged country. "The mere presence of banks and foreign investment in general will improve the security situation," he says. "What we don't want is to always have the excuse of the security situation."

The CBI has granted licenses to eight foreign banks, none of which has opted to open branches in Iraq under its own name. The insurgency and the rising threat of kidnapping last year prompted foreign investors to reconsider. But local officials threatened to revoke licenses unless foreign banks demonstrated their commitment to the market.

After more than a year of hesitation, the British bank HSBC reportedly signed a partnership agreement last month with Dar Al-Salaam Bank, offering capital in exchange for majority ownership. Other banks have made similar arrangements with Jordanian and Gulf Arab institutions, which wanted a foothold � but also a relatively low profile.

Bankers say the formation of an elected government in April has cleared the way for other limited foreign investments worked out months ago. Shabibi welcomes such partnerships, but says that foreign banks willing to operate in crime-ridden countries such as Colombia or Nigeria should be capable of operating in Iraq.

Taylor, however, says that foreign bankers, like other foreign investors, have every right to be cautious. "It's hard to tell anyone to come in, disregard security, and get things moving. We don't," he says. "Private-sector investment is going to come after private-sector investors feel safe that they can come ... without horrible things happening."

While two debt-ridden state-owned banks dominate the sector, Iraq also has 18 private sector banks, with others due to open soon. The former regime authorized private banks in the early 1990s, as Iraq struggled under sanctions.

Banks have become the strongest earners on the local stock exchange since the invasion two years ago. Speculation about incoming foreign investment has fueled dramatic gains in recent weeks, though shares in "real industries" are in a severe slump, says Mr. Fettal.

Several newly licensed local banks, meanwhile, are planning to expand their reach. The Kurdish family-controlled North Bank, started in Baghdad in 2004, recently opened a second branch in the northern city of Sulaymaniyah. Further expansion is also directed at the Kurdish-dominated north, says Nafie Alais Aboo, the bank's assistant managing director.

The CBI is encouraging other new banks to focus on impoverished areas in southern Iraq, some of which have almost no financial services, Shabibi says.

Meanwhile, as small amounts of coinage filter into the market, some people say they like the reminder of the days before wars and sanctions. But the manager of a Warka Bank office in Baghdad, Jumhouriya Hadi, said she had refused a request from workers at a nearby plant to exchange some new coins for paper money. "We don't want the difficulty of dealing with coins," she says.

Copyright 2005, The Christian Science Monitor

-- June 8, 2005 10:26 AM ∞

Sara Madgid wrote:

A theological answer to Bob, for those of you who wish to skip the theology, you can just go to the next post.
Sara.

Bob;

The Christians died in the Arenas of Rome, thrown the lions and burnt as torches at the Emperor's feasts. Today they are martyred by beheading and suicide bombings at the hand of Muslims, and imprisioned under totalitarian regimes like North Korea or China's for their beliefs. They don't suffer imprisionment, torture and death without faith that what they believe in is correct. The difference between the Christian who dies singing praise to God in the arena and the suicide bomber may not be in the strength of their faith but in WHAT they are dying for. You are correct, they are dying for different Gods, different views of life, different Truth. You asked if the strength of a belief makes it the right belief. No, it doesn't. One can believe strongly and die for a cause which is not correct or worthwhile, even as I believe those who defended Saddam when the US went into Iraq died for a cause which was not worthwhile or correct. They sought to cause a butcher of his own people to stay in power.. and died in that cause. Did their blood make the CAUSE of defending Saddam right? What if they believed it was right with all their heart and loved Saddam? No, that doesn't make the cause right. When the final analysis comes, history will not record Saddam as the victor in the conflict, nor those who defended him as having the right viewpoint. He will be convicted of crimes against humanity and sentenced, history will record this. Objective reality will still exist, even if some people will never believe it.

So of faith. Faith is equally objective and True. Truth will never give in to lies and will stand in the end as Truth even if all men were to be found to disbelieve it and instead spout off lies. It may speak quietly or loudly, but it will not change.

Rom 3:3-4 For what if some did not believe? Will their unbelief make the faith of God without effect? Certainly not! Indeed, let God be true, but every man a liar.

If some do not believe in objective Truth and reality, it will not make the Truth to change any more than denying the sun will rise tomorrow morning will change that objective reality. Many people believe what Carl said, "the answer is only my concept of what is wrong. (In) Other words what feels true to me." I cannot agree that Truth is only what you think it is, according to your subjective viewpoint or feelings about it, and that there is no objective truth. A person can believe in One God or many Gods, they can believe God is male or female. A person can believe in any faith, Muslim, Christian, Wiccan, Catholic or Israelite (Jew), and those who believe there is no objective truth will say that though they all contradict one another, they are all still on the same path, that it doesn't matter which one you choose. To me, it is like saying it doesn't matter if you were fighting for Saddam to be in power, or in the army taking power from him. Both are right. But for me, I want objective unvarnished Truth. I do NOT wish to believe a lie and go on glibly defending Saddam only to have the rude awakening at the end that I have fought and died for a cause which is not objectively right. I don't think there will be any excuses when we come up against the objective reality which will make up the final judgement of all of mankind. And in THAT judgement, I seek to do well according to the standards which are objectively true and will be judged according to that time.

If zeal and strength of belief do not make what is believed objectively true, and objective Truth continues on regardless of whether we believe in it or not, the only question which remains for us to ask is.. what is the objective Truth? If truth is worth dying for, worth fighting for, then how can I be sure I am fighting and dying for the REAL thing and not just one of the lies out there? How can I be sure I am doing what is objectively right? Pilate once asked Jesus that question, too:

Joh 18:37-38 Pilate therefore said to Him, "Are You a king then?" Jesus answered, "You say rightly that I am a king. For this cause I was born, and for this cause I have come into the world, that I should bear witness to the truth. Everyone who is of the truth hears My voice." Pilate said to Him, "What is truth?"

I think all of mankind must ask that question. What is the objective truth? Not just what you think or your neighbor thinks.. but what is the objectively REAL truth? Jesus said here that He bore witness to the Truth, and all who are of the Truth hear His voice. He also said it more plainly in another passage:

Joh 14:6 Jesus said to him, I am the way, the truth, and the life: no man comes to the Father, but by me.

Christianity is a religion that sprung directly from just such words. People who took Jesus' words as Truth and believed that objective reality and Truth are embodied in Jesus Christ followed Jesus and were called followers of Christ (Christians). Though there are others who use that label, if they do not follow Jesus, they are not Christians. If a person is looking for objective truth, and is open and willing to think and reason about objective Truth, they will consider Jesus' claims to be The Truth, to bear witness to the Truth and His claim that "everyone who is of the truth hears My Voice". If Jesus is a liar, there are a lot of people dead and dying for a false theological position. If He is right, the foundation of real, objective Truth is Jesus and it will stand when all the other positions fall. As Jesus put it:

Mat 7:24-27 "Therefore whoever hears these sayings of Mine, and does them, I will liken him to a wise man who built his house on the rock: and the rain descended, the floods came, and the winds blew and beat on that house; and it did not fall, for it was founded on the rock.

But everyone who hears these sayings of Mine, and does not do them, will be like a foolish man who built his house on the sand: and the rain descended, the floods came, and the winds blew and beat on that house; and it fell. And great was its fall."

Sara.

-- June 8, 2005 10:49 AM ∞

Sara Madgid wrote:

Monky;

Your first post said, quote:

"is it a legitimate investment? I checked at the Bank of Oklahoma that exchanges foreign currency. Senior vice president Paula Barrington said there is a new currency in Iraq, but there's no market for it anywhere else. I think it's extremely speculative."

The fact that the investment is speculative and that it is not being traded at Banks is not new information to Dinar investors. Indeed, most of us probably did not purchase our Dinars at a Bank. But speculativeness of an investment does not make it a wrong investment.. in the end, you are posting one man's opinion that, in his eyes, it is not legitimate. We on this board have a differing opinion, opinions we believe to be valid and based in fact. If this man is your guru and you wish to follow his opinion with your extra and speculative cash, as many do their brokers, bankers and financial planners, that is good for you. But I fail to see its relevance to the board.

Your second post said, quote:

"I'm considering buying Iraqi currency as an investment. Is that a good idea?
My take is unequivocal. Given the difficulty of predicting currency movements, I'm not even a big proponent of investing in established currencies like the euro or the yen. And when it comes to buying and selling the fledgling currency of a fledgling government in one of the most chaotic parts of the world, that goes beyond mere speculation. I'd call it gambling."

This second opinion you post is again, one man's opinion. I note that many fortunes have been made by currency speculators on the Euro and the Yen, but this man would not have made any money on either of these. If it is gambling to be investing in a currency which represents the Iraqi economy as a whole, including their 400 billion barrels of oil, then gambling it may be, but it seems a pretty sure bet to appreciate in value over time to us. (Oh, and don't forget the possibility of entrance to the GCC, too, which is a very positive longer term factor.)

Your third post said, quote:

"A number of people have begun touting so-called "investment" opportunities in the Iraq Dinar as a "sure way" to make a lot of money with little or no risk. Many of our clients have asked our opinion on the legitimacy of this. Is "investing" in the Iraq Dinar a sure way to profit? We don't think so. In our opinion, buying the Iraq Dinar is a high risk investment with a poor outlook."

This third post, again another "expert" opinion, is not new to us Dinar investors either. I am sure they want our money earning two percent in our bank accounts instead. However, as asked on this board before, are all these experts you quoted us here millionaires? Is their advice infallibly correct? You are free to follow the advice of whomever you wish and if these appear to you to be wise and good opinions, not investing in this "high risk investment with a poor outlook" seems good advice you should follow. I do not understand why you came and posted on here, though, because obviously we do not concur with the opinions you just quoted. If you wonder why, read the entire board and do a little reseach into it for yourself. Thinking for yourself is harder, and few people do it (why do so, when you can just ask and follow an "expert" right?). How many financial experts made money on the appreciation of the German Mark after WW2 or the Kwaiti dinar after the Gulf War, by the way? You can do as you wish with your money, as we did with ours. Just don't come crying to us when we do end up wealthy and you miss out, ok?

Johnny Cash.. good posts, thanks. Iraq is making progress and those articles do show that very well, thanks!

Sara.

-- June 8, 2005 11:31 AM ∞

Terrance wrote:

Carl,

I just read your post above. You are right, stick to the Dinar talk. Your mumbo jumbo about "what feels right" is evidence of that.

See you in Hawaii....

T-

-- June 8, 2005 11:46 AM ∞

Carl on Wilson Lake wrote:

Terrance:
Its good to see you still review the board. I haven't seen any comments from ya in quite sometime. Always enjoyed reading your input.
I'm packed Terrace, just waiting for the train to leave.

-- June 8, 2005 12:50 PM ∞

Terrance wrote:

Oh yeah. I'm still here - staying abreast with the info from the background. The old crowd is mostly gone now - I suspect from oversaturation of redundant posts. I also would imagine they check the board from time to time to see what's up, but like me are sitting back, biding time until something "big" happens.

Aloha -

-- June 8, 2005 2:16 PM ∞

RON wrote:

Hi Terrace good to hear from you again.There is alot of talk here,but also alot of noise.The nid train is still there and i have my seat along with the old gang.Carl keep up the good eferets and posts Ron

-- June 8, 2005 3:59 PM ∞

Sara Madgid wrote:

A bit on suicide bombers, faith, and a news article...
Sara.

Bob;

When I said MAY in this sentence:
"The difference between the Christian who dies singing praise to God in the arena and the suicide bomber MAY not be in the strength of their faith but in what they are dying for."

The reason I used MAY was because I am still a bit sceptical about the degree of faith we are discussing in the suicide bomber. In the case of the Christians dying, singing praise to God as flames engulfed them, their faith was so strong that many times their jailers as they watched them die decided to become Christians and professed faith in Christ (thus joining them in the flames), preferring to die with the peace they saw the Christians had in the face of death. Even the Centurion watching Jesus die on the cross saw something more in His death that moved him to confess belief that Jesus was more than a man, for he said of Him:

Mar 15:39 So when th� O�E�Z�ion, who stood opposite Him, saw that He cried out like this and breathed His last, he said, "Truly this Man was the Son of God!"

I don't see evidence of that depth of faith happening in Iraq.
Sara.
---

General: Insurgents Force Suicide Bombings
Jun 8, 3:59 PM EDT
By RUSS BYNUM
Associated Press Writer

FORT STEWART, Ga. (AP) -- Iraqi insurgents appear to be forcing some followers to commit suicide car bombings by tying or binding them inside explosive-carrying vehicles, the commanding general of allied security forces in Baghdad said Wednesday.

"In one case, Iraqi police found pieces of a car after it exploded which included an accelerator pedal that had the suicide bomber's foot still taped to it, so that you can't chicken out and leave," Maj. Gen. William G. Webster told reporters in a video conference from Baghdad.

Webster, commander of the Army's 3rd Infantry Division and the 30,000-troop task force securing the Iraqi capital, said several reports of bound attackers could indicate slipping support for the insurgency.

"We think it means the insurgents had less support and less ability to conduct these operations," he said. "But we're not willing to hang our hats on it or declare victory any time soon."

Webster said he has received "five or more" reports since April of car bombers seen bound inside their vehicles, as if forced into suicide.

"We've found some people who were literally tied or taped to the steering wheel, reported by Iraqis who saw them just before detonation with their hands tied to the steering wheel," he said.

http://ap.washingtontimes.com/dynamic/stories/I/IRAQ_GENERAL?SITE=DCTMS&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2005-06-08-15-59-19

-- June 8, 2005 6:31 PM ∞

shannon wrote:

monkey,

Thank you for your post with links to articles from NBC, and CNN. I don't usually read the NY Times, or watch NBC or CNN. I don't consider either one of them, "fair and balanced". Just my quiet opinion, as is investing in dinar and the Iraq people. Some people don't mind risks in life, if those risks can bring about good changes for people. No matter who those 'people', are.

-- June 8, 2005 7:01 PM ∞

mair wrote:

"I thought if you believed in God, You believed in God.

I didn't know there where people on the other side of the world that believed in a different God.

So now I know that I believe my God is God, and they believe their God is God. And They believe my God is Satan, and I believe their God is Satan.

Wow!

This Sucks! From a world perspective."

Well, who inculcated this false and stupid stuff in your brain?? My dear friend, there is only one God, who created everything, including satan. Conmen misguide people, be it GWB, Saddam, Sharon, Mubarak and so on..It is you who must use his / her brain to see what is right and who is telling lies. You guys persistently believe liars like Bush, Blair, Cheney, Rice, Rummy???It is proven beyond any doubt that tey are liars, still you believe conmen and view others according to their lenses??

Wake up, guys. Use the precious gift that God encased in your skulls.

-- June 9, 2005 1:39 AM ∞

okie wrote:

This is to confirm and certify that Iraq is on the "fast track" to a good future. How do I know this?..........We just got a Burger King and Pizza Hut at our base. We civilians love it and the military guys are lining up every day. What a country!!!!!

-- June 9, 2005 3:24 AM ∞

Johnny Cash wrote:

When there is a Burger King, a Pizza Hut or even a coffee shop "Outside of the wire" then Iraq may be on a "Faster Track." Baghdad is holding the course, but it's not going to be "FAST!" Quit day dreaming and get back to work.

-- June 9, 2005 5:15 AM ∞

James Shamenski wrote:

Thank-you Sara for your response to my innogural question on establishing a bank account.

This post has two parts; 1-tax, 2-Dinar vendors.

PART ONE
So, lets create a case example of the problem with being taxed on a hard currency investment. All numbers are drawn for this case example and have no merit. suppose a 10 dollar investment, and I always pay taxes (of 30%) regardless of the $200 profit rule mentioned a couple of days back, okay.
1 USD exchanged @ todays rate of 1465 IQD/USD = 1465 Dinars.

---1 year from now the dinar is at 15 cents to the USD---
investment is valued at $219.75 USD
-lets say you pay tax on that @ 30% - or $65.9 goes to the IRS.
Investment now valued at $153.82USD

---2nd year, Dinar doubles to 30 cents---
Investment is now $307.65
Pay the tax man $92.30
Investment now valued at $215.35

---3rd year the Dinar goes to 90 cents on words of a Eastern Union---
$215.35 increases to $646.05
Pay the tax man 193.82
Investment stands at $452.24

---4th year no movement---
investment stands at 452.24
no tax taken

---5th year Eastern union is formed the dinar jumps to 3 dollars---
$452.24 moves up to $1507.46
pay $452.24 in tax
and the final payday is $1055.22 after tax. (yee-ha)

now lets say you dont pay tax and hide your money until this imaginary $3 dollar pay day hits.

$10 USD (2005 investment) * 1465 = 14650 Dinars * 3USD(2010 value) =$43,950.00

-If I did this correctly (-please point it out if so) shows that the IRS taking tax destroys the potential value of the investment. Now if in 2010 i just go to the bank and deposit this wad of 44 gerrr the IRS will investigate and back-tax and pro-jail my ass.

Question-what legal ways can I protect my invesment to stay untaxed for 5-10 years?

PART DEUX
What vendors are legit in selling hard currency?
www.midamericatrade.com has the best rate i can find at $780 per mill IQD. Trustworthy? Even when i get it how do i know? Are their experts to verify this stuff. And i know about the security feature of the 03 bills but crooks have had 2 years to work something out.
Any other vendors offering a better rate than $780?
And how about denominations below the 25,000 note. Those go for way more. Any way around this?

Thanks,
James
2010Games@Gmail.com

-- June 9, 2005 6:11 AM ∞

Sara Madgid wrote:

James;

I think you need to talk to an accountant. :)

I read this rumor on Investor's Iraq today.

... ok for the dinar pegging on June 15th, 2005 think I know all I will ever know so here is the wrap up. Looks like we can expect big news on the dinar on the 15th. There is some desent about that information, it maybe the peg (my peg guy is standing firm) it may be an announcement about war repurations. It may be nothing at all, could be like Bills "Ground Hog Day", nothing diffrent at all. I have taken a couple hits for this in pm's, for holding back information. I try to post only what I believe is a credible rumor. Seems like some want it all, because of where I am I know people all over both Kuwait, Iraq and Afghanistan. I have a net work of friends both on and off this forum. In the spirit of free exchange of information here we go, I know for certain that in the last two and a half weeks a tractor trailer was stopped heading south into Kuwait at the border and the locks cut off by Kuwait police and inside was discovered shrink wrapped pallets of dinar. The trailer was resealed and sent on, I am not saying where. I can tell you that banks in Baghdad are playing hard ball against one another, trying to shut you down from opening accounts in Iraq, fact. I have found a loophole in the system to open accounts through a source in Kuwait at another major bank in Baghdad (legally), you are required to be here in Kuwait and to have access to DOD facilities, fact. I feel strongly that by the end of this year the dinar will have made signifigant gains in value, fact. I only hold back negative news or news that will not help the majority of this membership. Good luck to all, Lance

http://www.investorsiraq.com/showthread.php?s=690d4a54885ac00959eef45f18b17c2a&t=6000&page=11&pp=20

-- June 9, 2005 1:56 PM ∞

Jose wrote:

John LaRue were are you? Are things still on track? Please talk to us. Thanks in advance,Jose

-- June 9, 2005 5:30 PM ∞

dae wrote:

Just wondering about some security features of the NID.

I just received 1 million dinar from dinarmerchant.com in 25,000 denom. On all the dinar I received the "signature" (or what I believe to be a sig) on the back with the Arabic writing is heart- shaped and not the same as some examples I have seen on pictures of the dinar on the web. Can anyone help me with this discrepancy?

Is it a signature of another high-ranked official or something? Or should I be contacting this dealer for a refund?

Also, does anyone know what I should be looking for when one of the security measures is said to be "raised lettering" because I dont see any lettering raised?

Any help would be much appreciated.

-- June 10, 2005 6:44 AM ∞

Carl wrote:

DINAR INFLUENCES

HEY! AHMAD COULD YA REACH OVER AND TURN THAT FAUCET BACK 1/4 TURN ?
Iraq has announced it is going to cut its oil
production of crude by 15%. This is due to the continued swapping of bullets in the regions of the oil fields. It seems the oil experts do not want to bring in their teams until those unexpected explosions, that mess up their designer jump suits are under better control.
Some said this was setback for Iraq. Others, Iraq is just being realistic, given the present trading in lead. After all you know how hard it is to get designer jump suits in Iraq?

I CAN SEE SOME LEATHER IN MY WALLET
The ISX chairman stated, give me two or three years will ya?
It seems that the good ole days are gone for awhile. Since the Americans came in here, shot up our place, stopped us from hanging and beating the shit our of people, we just can't fabricate our stock exchange numbers any more.
Do you realize what that does to a hard working ISX man's wallet?
Heck! we've even had to go ask those Malaysians next door for assistance in putting this puppy back together.
We opened the ISX up back up to you foreigners to participate in our lead pencil outfit in June 05,

What....what did you say....uh...uh...OK! we announced it,.... but the "grand whatever" hasn't given his blessing on when we can shovel some sh--...I mean "stock" at ya.
But you know we plan for you to be in the middle of pile just as soon as the ole "ay a told ja" says so.
After all we expect you boys....huh!... ole ya!!!...girls too..."for the sake of Allah what is Iraq coming too?"

So far we here have relisted 89 companies, that know where the IED's are placed, and we hope to have some more just as soon as they can take off their bullet proof vest, get in here, and give us their names.

Yes! we know trading ain't been what it use to be...but do you really understand how difficult it is here to get modern equipment...they just don't make pencils like they use too..and our pencils sharpners are getting dull.
You ask about laptops, and computers? We heard of those, but we understand here it will be in the 22 century before we get them..but we do plan to go to electronic trading....hey!...hey!!.....Hey!!!!
Don't push me bud.....ya walking on soft pig sh-- here...I know some people...
So to keep ya health premium low...I suggest you keep to the standard boring questions that I prepared for...
Oh! by the way we have goat cheese and date wine waiting for you on the tail gate of our armoured gun track...
Ain't business good?

SURE WE HAVE A HORSE TRACK
Ya didn't think we would shut our track down for little ole lead swapping did ya?
Yep! three times a week just on the outskirts of Baghdad, 1200-1500 people com to watch those babies run...
Yes! I know gambling is against Allah's rules...
but just to keep him happy we place a bet for him too....
Now, I don't know if he realizes that of course, cause he's been purty busy distributing all those virgins out to the "suckers" ....I mean hero's ....that have gone up there to paradise without reservations... things are just coming apart there...
Do ya realize just how hard it is to find 72 virgins anymore, much less a whole gaggle of them? He must be working his A-- Off!

Ya I know...the top cleric here,lets see his name is.... Mashhadani... something or other told me the other day the gamblers would not be allowed to enter into paradise upon their deaths....but he also slipped me a 250 dinar note to place a bet for Allah...and if it won to bring it back to him...that he would see that allah got it...and he would put in a good word for me.
We have such wonder clerics here....it is great to have a go between sometimes... ya know...a little power pull...
yes....I know $500,000.00 dollars were used to refurbished the race track facilities....after you got rid of that ......that...what was his name...oh! yea! Saddam.
But did you not tell us to rebuild Iraq...?

WE ARE GETTEN IT DONE... DON'T YOU FRET ON THAT
Ain't it a pisser when you have to set down with some yokal ya can't stand? Well! I want you Americans to know just what you have made us do...
Our El Presidenty had to beg...I mean bargain with the unspeakables (the sunni's) just get them to sit down and help put together this ...what do ya call it.... Constitution.
We are in the latter part of the last quarter of the game here, and we are having too sit in a cavernous, dusty auditorium with taped windows next to somebody that hasn't had a bath in a while...wearing heavy robes with the temp sort of... reaching hell level...
Yes! I know we have until mid august to adopt the new constitution. But we ain't wrote it yet...
I know the people have got to like it, then "paradise for bid", they have to vote on it again...
Why to you think it is taking so long...?
We have never been fair in our history...have a little pity here...this is new to us..
Do you realize that to get those sunni's back in here, we had to actually give them the power to vote whether they like it or not...
See what I mean..
Iraq is falling apart here..

But...I assure you we will meet the deadline..
even if we have to include the "Sunni's".
We at least must kiss their tooties until the votes are taken in Oct. Without their support, the consitution may fail in three of their four provinces, then we have to start all over again, paradise forbid.
This democracy thing is a pain....

-- June 10, 2005 8:36 AM ∞

allen wrote:

Dae said;
Just wondering about some security features of the NID.
I just received 1 million dinar from dinarmerchant.com in 25,000 denom. On all the dinar I received the "signature" (or what I believe to be a sig) on the back with the Arabic writing is heart- shaped and not the same as some examples I have seen on pictures of the dinar on the web. Can anyone help me with this discrepancy?
Is it a signature of another high-ranked official or something? Or should I be contacting this dealer for a refund?
Also, does anyone know what I should be looking for when one of the security measures is said to be "raised lettering" because I dont see any lettering raised?
Any help would be much appreciated.
-----
the notes are legit appears on newer issued notes
old notes had Falih Dawood Salman
(Deputy Governor)newer notes have shabibi sig

http://www.islamicbanknotes.com/
click on Iraq to see new and older signatures
---
the new signature only appears with the new notes ID 500 and 10000 and newer 25000
(2004)
---

As previously forecast, the new notes of the Central Bank of Iraq are now being issued with the signature of Sinan Al Shibeebi, the Governor of the Central Bank of Iraq. When the current series were first issued, following the overthrow of Saddam Hussein, they carried the signature of the Deputy Governor as the Governor had not been appointed at the time the notes were prepared. The only note of the original issue that has been recorded with the new signature is the 10,000-dinar note. It carries the date 2004. Other denominations with the same modifications are expected to follow in the near future.
[Submitted by Layth Al Muderis and Haider Al Saffar -- November 2004]

This signature is also on CBI webpage
It is the signature of ;

Dr. Sinan Al-Shibibi the governor of CBI

http://www.cbiraq.org/4_1.jpg

-- June 10, 2005 11:49 AM ∞

dae wrote:

phew, I thought I was going to have to hunt dinarmerchant down.

Thanks Allen

-- June 10, 2005 12:57 PM ∞

Sara Madgid wrote:

Carl;

Course, you wouldn't be parting with your Dinar any time soon, would ya? Looking forward to seeing y'all in Hawaii..

Sara.

-- June 10, 2005 12:58 PM ∞

Carl on Wilson Lake wrote:

Sara;
I know you expect some things to happen in the near future...and I DO HOPE YOU ARE RIGHT.
But, I don't have the conviction that you do about the 15th of June.
But the safety deposit box is close,so I won't have any problem of getting to my stash if need be.

-- June 10, 2005 2:56 PM ∞

Michael wrote:

I seem to recall last year around this time everyone was counting their money as well. I am just a bit skeptical that NOW it really is going to happen. I assure you all that I am hoping with all appendages crossed however. :))
If you recall I was in Greece drinking Champagne with the wife in celebration. Well I am still waiting patiently here in IRAQ and will do so until it hits.
Question: Let's just say for giggles that it does happen on the 15th and it opens at whatever the price may be; do you people expect to be able to trade it in the states or do you expect it to only be traded in the Mid East?
See I am in IRAQ and my DINAR is in Texas......of course my wife has access but I am not going to have her fly to Baghdad.....:))

-- June 10, 2005 8:02 PM ∞

okie wrote:

I operate on the "bird in hand" principle and keep all my NID with me in Iraq. I keep hoping something will happen in the near future that will show us all some clear direction for the future. I'm betting the Dinar will hit the market in a few months. In any case I have this huge house picked out at Patong Beach in Thailand just waiting for the "Forex moment".

-- June 10, 2005 11:11 PM ∞

shannon wrote:

..the possible rumor is if it pegs/floats, it will only be within Iraq (for now). I suppose we shall see..

-- June 11, 2005 12:34 AM ∞

Carl on Wilson Lake wrote:

ITS ROCK STEADY AND STANDING FIRM
Its been called many a thing, confidence builder, life saver, life blood of the nation, stable and sound, credible, national pride, produces exchange rate stability, flag bearer... Yep!!!!
ITS THE IRAQI DINAR.....
In a article from the Turkish Weekly,.... no bubba I didn't say turkey weekly, so put your gun down, ya ain't bagging anything today...
The Iraqi Dinar has become a confidence builder with the Iraqi people. Unlike during the Saddam years, The Central Bank of Iraq was just an extension of the executive arm of Saddam. It churned out banknotes quicker than a church rat could have little mi-cessssssss. Saddam extended unlimited credit to the government whenever it needed funds. Lets just say under Saddam, Monopoly money had more credibility and real value than Saddams dinar. Plus over in the Kurdish regions which was basicly left alone by Saddam, because , "it just ain't safe to go in amongest those boys over there, besides sum of-vem don't have all of their teeth" produced their own version of the dinar. Backed up by....?????

THE NEWBANK NOTES
First
there was an improvement, because they got Saddam's "U-gly Mug" off of the money.
Second
The New fledging group of leaders started to putting its own house in order. They started making the bulk of domestic expenditures in dinars instead of US Dollars.
Third
To give immediate credibility, The Central Bank of Iraq was transformed into a "INDEPENDENT BODY" which took place when the new notes were put into circulation. This one move, which separated the authority responsible for monetary emission from the new Iraqi government to the CBI did more to build confidence in the new Iraqi government than probably any other move.
According to Sadoon something or other, who is a professor of economics and administration at the University of Baghdad, since that time, the Iraqi dinar has remained stable due to the remarkable level of stability and sound Iraqi government policies setforth.
According to an official at CBI, the banks intentions and goal is to restore dinar confidence and stability against other currencies.
Now...Firas Jabbarrrrr, a financial guru for that area, says the dinar stablility has been achieved because of the robust intervention of the CBI, and the "Buying" and "Selling" of dollars to keep the rate steady. His says, the Iraqi money market is where it is suppose to be at this time of the process. I am very optimistic about the Iraqi Dinar and the current financial position of the government.
Economist Kathir, stated, if the government continues on its present course, it is feasible that the currency rate will change to 500 dinar to the US dollar. No time period given, just said, in the coming period...
YEP!! I PARAPHASED HERE, CAUSE I DIDN'T WANT TO TYPE MY FINGERS OFF...AND YEP! I ADLIBBED SOME, WITHOUT CHANGING THE DETAILS AND FACTS OF THE STORY...IF THIS BOTHERS YA...JUST USE YOUR OPTIONS AND SKIP MY POST, IT WON'T HURT MY FEELINGS NONE

-- June 11, 2005 8:32 AM ∞

okie wrote:

I just did some calculations (hope their correct) of the largest asset(oil) and the largest debt (NID in circulation) and came up with the following:

If the estimated oil reserve is=400 billion barrels.

And the outstanding currency is=4 Trillion Dinars
And the net target price for oil is=$23.00 per barrel ($28 per barrel less $5 per barrel for production).

Then One Dinar= $2.30 (oil reserve times price of oil divided by outstanding currency)

Any comments welcomed....

-- June 11, 2005 9:03 AM ∞

ejamm wrote:

Carl,
Have you figured out how to liquidate the dinar if/when it pegs? I have read on another posting site there may be a problem converting to USD in the states...your thoughts...

-- June 11, 2005 9:10 AM ∞

Carl on Wilson Lake wrote:

THE IDEA WAS HOT BUT HAS A BUCKET OF WATER BEEN THROWN ON THE FIRE?
The GCC common currency train of thought was on track and probably still is on track.
But the European constitution and its ongoing monetary policy wrangling amongest the Euro members has,(as if they have every gotten along for any length of time) as you would expect is probably going to have some dampening effect with the GCC countries about the single currency. After all, they have been copying the Euro structure of the European Countries.
According to some press, the Euro may start being rejected in some of the Euro countries. Now! while this may be remote, it does bring into question of the efficacy of a GCC common Currency.
The common GCC Currency idea is already highly sensitive and political. Meaning it would react quicker than a menopause woman on steroids to any sensitive influence.
Their are skeptics about the GCC common currency, and the will of the GCC countries to actually pull it off. There is no doubt the no votes in France and the Netherlands on the Euro constitution has put the Euro under the "Spotlight". This Spot Lighting has place negative pressure on market sentiments and the capital markets.
Economists say, the future of the Euro depends a lot on the Asian central Banks, which maintain exchange rate stability in their domestic market through intervention. A brake down could cause a chain reaction resulting in the further weakening of the dollar against these currencies and the Euro. With no monetary policy tools of their own to prevent cascading appreciation of the Euro, they think many countries would abandon the common currency completely.
Presently, there are strong sentiments in pushing the GCC currency forward, and all advocates spout the benefits.
Keep in mind, Regimes in the Middle East do not ask for popular votes on what they intend to do, or if they should keep doing it as the European countries have. So betting that you will see a popular vote on the GCC common currency in the GCC Countries would be "on the QT" called a no-winner.
What happens with the Euro, will I guarantee you be watched very closely by the GCC countries.
This information was taken from the Khaleeji times and paraphrased.
My fingers get "finger tied" when trying to type those middle eastern names.

-- June 11, 2005 9:13 AM ∞

Sara Madgid wrote:

A MERGER??
Interesting.. more rumors. :)

If you refer back to my post of a rumor by Lance about a certain shipment, it said:

"I know for certain that in the last two and a half weeks a tractor trailer was stopped heading south into Kuwait at the border and the locks cut off by Kuwait police and inside was discovered shrink wrapped pallets of dinar. The trailer was resealed and sent on, I am not saying where."
http://truckandbarter.com/mt/archives/000502.html#11792

Why would this have any significance, you ask?
Well.. a little more rumor.. but one that could be interesting if proven true:

Originally Posted by lordrazor1
With Lance's info about the large truck full of money and the merging of the CBI with the National Bank of Kuwait, the Jun15th date don't seem to be to far off base. That shipment could have been for the NBK. I didn't catch the date of the merger, but if it is Jun15th, and the large shipment could prove that pegging/floating the NID could happen. It might be even be higher than the 0.10 that seems to be a reasonable start for the NID.

http://www.investorsiraq.com/showthread.php?s=0fa5dd6d8669b103e956b6b054c5adc3&p=64438#post64438

The idea of the CBI MERGING with the National Bank of Kuwait.. is a very interesting rumor. We shall see if that is so in the near future, and how it affects the Dinar investment.

Sara.

-- June 11, 2005 11:57 AM ∞

Sara Madgid wrote:

Interesting calculations, Okie. Food for thought, thanks.

Carl, I liked your post, particularily with Mr. Firas Jabbarrrrr where he said "I am very optimistic about the Iraqi Dinar and the current financial position of the government." And where Kathir stated, "if the government continues on its present course, it is feasible that the currency rate will change... No time period given, just said, in the coming period..."

I see a positive direction and am looking for a good change in the interests of the Dinar and its holders for the reasons these are speaking of here, along with other reasons. :)

Sara.

-- June 11, 2005 1:20 PM ∞

outlaw wrote:

Hey Johnny Cash.... I understand that you might have some inside information about investing in the Iraqi Stock Market that you might want to share with us... How's everything going? Maybe you should consider investing in Burger King, Micky D's, or KFC over here to help get things on track. WoW...Imagine the happy meals that you could sell over here...hehe

Outlaw in Iraq.

-- June 11, 2005 2:52 PM ∞

Sara Madgid wrote:

Airstrikes Kill 40 Insurgents, Military Says
Saturday, June 11, 2005

BAGHDAD, Iraq � U.S. fighter planes equipped with precision-guided missiles launched airstrikes on an Iraqi town near the Syrian border Saturday, killing about 40 insurgents who were stopping and searching cars, the military said.

Seven missiles were fired at insurgents near Karabilah, close to the volatile town of Qaim, the Marines said in a statement.

Interior Minister Bayan Jabr, meanwhile, said an ongoing Iraqi-led offensive to weed out militants in the capital was a success and expressed confidence that the Shiite-led government would bring security to the country within six months.

Sunni Arab leaders have criticized the offensive in Baghdad, saying it has been particularly heavy handed with the minority.

"I'm worried about the way the recent security plan has been implemented," Iraq's Sunni Arab Vice President, Ghazi al-Yawer, told the London-based, pan-Arab Al Hayat newspaper.

"That's why I call for not breaking into people's homes without a legitimate reason and for depending on thorough security information and not on biased information," he added.

Jabr said that more than $6 million had been confiscated, 36 militants killed and 1,318 people arrested, including eight foreigners � all Arabs, in the ongoing counterinsurgency campaign dubbed "Operation Lightning," which will enter its third week on Sunday.

He said car bombings have dropped from an average of 12 a day to less than two since the operation began on May 29. There have been 26 bombings involving cars since the start of the offensive, according to an Associated Press count.

Iraqi authorities also have recovered eight car bombs, 37 missiles, 325 automatic weapons, 52 mortar rounds, 13 rocket-propelled grenades, 36 pistols, 37 hand grenades, 1,217 forged documents and various types of ammunition and explosives in the operation, he said.

"Operation Lightning has forced the terrorists to flee outside Baghdad," Jabr said at a news conference. "Within the coming six months, God willing, we will spread security all over Iraq."

He added that eight people had been arrested in a Friday car bombing outside a Baghdad falafel restaurant that killed 10 people, including two children.

In other developments Saturday:

�Two oil ministry employees were shot to death and another man was critically wounded in southern Baghdad.

�A bomb exploded in a cemetery in the southern city of Najaf, killing two Iraqis, including an 8-year-old girl, and wounding three others from the same family as they were visiting the graves of relatives.

�Iraqi police raided an auto mechanic's workshop in a southeastern suburb of Baghdad and captured five men suspected of rigging car bombs.

http://www.foxnews.com/story/0,2933,159254,00.html

-- June 11, 2005 3:43 PM ∞

Rommel wrote:

Hey Akbar...go on and open up that southern line will ya?
Good news for those oil/dinar calculations!

Iraq resumes oil exports from the south
Iraq, Economics, 6/11/2005
ArabicNews.com

-Oil exports resumed on Friday from the south from the main al-Basra port on the Gulf after these exports were obstructed during the two past days because of the bad weather conditions. Naval data said that loading oil from the south is made at a rate of 1.5 million barrels daily.

Iraq's oil production from the south constitutes most of the country's production while exports do not proceed as smoothly as sought by officials in the area of more stability and security in comparison with the northern area of Iraq. Sales of the Iraqi oil marketing establishment reached within the delayed contracts for south oil in Iraq 1.5 million barrels daily for the second phase of the current year, with a reduction of 80,000 barrels daily because of problems in production.

On the other hand, one Iraqi oil official expressed his hope to resume the exportation of 350,000 barrels of oil daily by the north pipeline to Turkey within ten days.

The official expected the completion of repairs in the north pipeline after they were attacked earlier.

http://www.arabicnews.com/ansub/Daily/Day/050611/2005061116.html

~Rommel

-- June 12, 2005 7:17 AM ∞

Sara Madgid wrote:

Iraq's Transition of Power, an indepth look at it, including a timeline:

http://edition.cnn.com/SPECIALS/2005/iraq.transition/

-- June 12, 2005 12:56 PM ∞

Hank wrote:

I want to share this rumor with yall; I hope yall don't tear me apart but i feel like i should share it with yall. Lance in truth or dare

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

Here it is, authorized.

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

Remember Bill B. who was in on this at the beginning well he has a friend who gets it from Bill that the dinar will open the 1st week of July between 25 and 30 cents and will most likely float to between 75-80 cents by years end, this projected rate doesnt come from Bill but from his source. I have it on good authority from inside Iraq that Bill is working on a mutual fund. The fifteeth rumor may have been moved up to tommorrow all I have is the fact that a very important meeting is being held tommorrow in Iraq and it wasnt previously scheduled for tommorrow. Back to Bill, here are the meetings and dates that substantuate this as provided by ... June 28th thru 30th debt relief uncc. June 21st over 80 countrys will meet in brussels on Iraq, on June the 20th EU meeting in Washington. Folks I want to tell you this is by far the best information I have recieved. I appreciate friends who have in the past helped me safeguard sources as we develop this information. Make no mistake about it this one was a incredible team effort. Lance I could tell you more but at the risk of my source.http://www.macon.com/mld/macon/news...cs/11433583.htm http://www.reliefweb.int/rw/RWB.NSF...?OpenDocumentso
__________________

-- June 12, 2005 7:10 PM ∞

shannon wrote:

sssh....it's a secret.

-- June 12, 2005 9:41 PM ∞

GoldDinar wrote:

Hello,
Many ppl thinks that iraq will reissue it banks notes in small denomination. If you carefully watch the action of CBI the small denom is already printed i.e 50,100 250 these denominations are fully compatible with future valuation. If those denom not printed then there will be a GREAT chance that CBI will reissue notes.
Now come to another clue why this will not happen ... you all see lots of adds on internet regading Dinar Sale and everybody knows that u.s citizens are much invested in this currency and still investing ... did any state's department or any relevent authority issue any warning against those purchase because if the investment is going into vein or NULL then you will see immediate warning from u.s govt. Do you think that u.s govt want to lose there citizen's money ?????
I hope you understand what is the future of iraqi dinar.

Best Regards,
Gold Dinar

-- June 12, 2005 9:43 PM ∞

shannon wrote:

The 'invested american citizens' are backing the Iraq dinar. We want to see them get it back to full value, where it should be. The value of any currency is more valued as demand for it grows. It is long overdue for the Iraq people to have their wealth back. For the country's sake and that of their children. They have lived through enough at the hands of an evil man, that devalued everything about them, including their currency.
I felt 'wordy' tonight and used the word 'back' alot.

-- June 12, 2005 11:30 PM ∞

RON wrote:

Hi all great news and posts from all of you once again thanks Ron.

-- June 13, 2005 1:23 AM ∞

peter wrote:

what is great new?

-- June 13, 2005 7:34 AM ∞

Sara Madgid wrote:

Are we still on track?

I was wondering if we are still on track to observe the June 30th handover of power to the Iraqis?? This older article speaks of it (below).
What is the board's take on the transfer of power.. once they become independent.. won't they need to have their money worth something?

Last updated at: (Beijing Time) Friday, March 19, 2004
France calls for independent Iraqi government by June 30

French Foreign Minister Dominique de Villepin urged the international community on Thursday to help set up by June 30 an independent Iraqi government, which can ask a UN security force to stay.

"Everyone is aware of the importance to observe the date" of June 30, expected for the power transfer from occupation forces to an interim Iraqi government, said De Villepin in an interview published Thursday by the French Daily Le Monde.

To him, the fundamental law approved on March 1 by the Iraqi Governing Council does not give enough power to the interim government.

"It's imperative that (the date) marks a transfer of a real sovereignty, which ensures real powers to the Iraqis ... We have to accelerate the move," he said.

"The situation will be then all different" with a sovereign Iraqi government, he said.

There can be a force led by the United Nations to request an independent Iraqi state, working together with the countries of the region, he added.

These remarks came after Spanish Prime Minister-elect Jose LuisRodriguez Zapatero said Spain will withdraw its 1,300-strong forceon July 1, if there's no sovereign Iraqi government to be established by June 30 or foreign forces are not under UN mandate then.

De Villepin also urged the UN Security Council, the European Union (EU) and NATO to convoke urgent meetings in order to coordinate on Iraqi issues.

Source: Xinhua

http://english.people.com.cn/200403/19/eng20040319_137902.shtml

Are we going to miss this targeted date.. or are we on schedule.. anyone know?

Sara.

-- June 13, 2005 9:43 AM ∞

Michael wrote:

Sometimes I wonder if you people actually read the posts in here or if it just a "spot" where you put down your thoughts and questions. I don't know about the rest of you but that is really super news I just read above. I am not going to quit my job......yet. I am getting pretty darn giddy though. :))

-- June 13, 2005 11:29 AM ∞

Ian wrote:

Some exciting times.. but I can't help but remember the hype from last year at the same time.. about a .30 cent peg... I can't help but think the hype is coming from the Merchants themselves...

Another observation.... all the dinar merchant sites are still selling away.. if a peg was emminent, wouldn't they shut down for a few days instead of "giving" away potentially millions in equity?

I hope it pegs just as anyone else.. i just like to see facts... and verifiable sources..

I do appreciate the posts however and I wish you all good luck!

-- June 13, 2005 11:36 AM ∞

Jose wrote:

John Larue were are you? What is the current status of your thoughts? Thanks In advance for your in put.

-- June 13, 2005 12:36 PM ∞

Sara Madgid wrote:

SOON

Well.. it would be very nice if it were Wednesday.. or at the June 22 conference on Iraq in Brussels, or June 30 when they were supposed to hand over power to Iraq - just to demonstrate they are doing so as much as they can in the financial sector for the Iraqi people, too (see previous post today).. or even.. according to this rumor post by Lance (which I just had to share with you all) in July.
Soon is good.
June or July..
Those all seem pretty soon to me. :)
Sara.
----

Seconds ago!!!!

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

Out of germany via burbank friend is that the German version of forex (DAX) is anticipating trading nid on the market by mid-july
if it's tradeable there, it would be internationally tradeable.

so you have friend in the treasury dept?
No but some one here does, and if he will give up some more information that I can verify, I will post what he told me here. Lance

http://www.investorsiraq.com/showthread.php?p=64882#post64882

-- June 13, 2005 1:10 PM ∞

Terrance wrote:

Look for a quick rise in the Dinar now that the Michael Jackson trial is over.

Well....maybe not.

Aloha -

T-

-- June 13, 2005 6:10 PM ∞

allen wrote:

13 Jun 2005
Exchange rate of Iraqi Dinar falls

The Jordanian markets witnessed the drop of the Iraqi Dinar due to deterioration in the economic and security situation in Iraq. The exchange price of the Iraqi Dinar has fallen to JD 460-477 per ID 1 mill.

http://www.occkw.com/iraq/view_News_main.asp?pid=1185

-- June 14, 2005 1:58 AM ∞

Mark wrote:

Hello, I dont pretend to have a crystal ball or any other device that cat fortell the future. That being said I have been holding dinar since the day it opened in 2003. I have been in Iraq working most of that time. Today I am in Zahko, it is a Kurdish territory on the Turkey border. I went through the city today in a regular suburban, NOT the typical up armored hard car I drive around in in Baghdad. The people are very kind and greatful of what we, the Americans along with our coalition of countries from all over the world have done for them. I saw many new buildings, restaurants, hotels, gas stations and very large magnificent homes newly built and being built. The region is prospering and doing very well. I know the Kurdish regions are a little different then most of Iraq, however freedom, democracy and prosperity grow and spread like fire once it begins. I have travelled by air and land all over this country and many other middle east countries in the past few years. Northern Iraq will soon be a new Dubai type city in the middle east. They have a long way to go but have come even farther. To you Dinar investors, bottoms up baby, because Iraq is doing well and will continue too! I get sick to my stomach when I go back to the states and watch the news about all the horror run amuck in the streets of Iraq. Well have you ever looked at the homicide rate per capita in some of our fair cities, such as Detroit, Chicago or my home town the city of Angels? I assure you I have been in places or cities in Iraq much safer then these cities. So let the nay sayers drown in there ignorance, as we will all toast the sucess of Iraq together, as for me and my 25 million Dinar, I will be on a houseboat on Lake Powell for the duration of what God gives me, so if you are down that way stop by the USS Dinar and say hey and give a toast to the people of Iraq!

-- June 14, 2005 5:18 AM ∞

ejamm wrote:

Seems the forums have gotten deadly quiet since yesterday. Could it be anticipation of a huge event or just nerves.

-- June 14, 2005 9:17 AM ∞

Sara Madgid wrote:

Thanks, Mark, a great and very GOOD report. :)
If you were one of the spies who went into the Promised Land in the Bible, you would be either Joshua or Caleb. :)

You said: "I get sick to my stomach when I go back to the states and watch the news about all the horror run amuck in the streets of Iraq."

I reckon the news media here would be accounted among the ten spies (with special daily news report features on the height and weight of the Giants in the Land, their exploits and victories) not a Joshua or Caleb.

We will be lookin for the USS Dinar when we tour the area, thanks.

Sara.

-- June 14, 2005 9:57 AM ∞

RON wrote:

Hello all
Terrance thanks for the laugh I needed it.
Mark thank you so very much for this insight you have shared with us.There are alot of people here in the U.S.that are misled by the press,even tho there is other information out there.
Good luck to all and IRAQ.

-- June 14, 2005 10:26 AM ∞

Sherrie wrote:

I have just begun to read on this string and I tell you I am impressed with the posts. Keep up the good work you guys I have enjoyed reading all of your posts. I do hope and pray for a peg in June or July. I know we are one day closer to a peg every day. May God be with us and the Iraqi people, and don't forget our soldiers.

-- June 14, 2005 11:35 AM ∞

ejamm wrote:

It appears the "poster" child for the investorsiraq/dinar rumors forum, Lance, has gone undercover. There seems to be a little dissention among the contributors of that site. Things to be stable here though. Keep up the info train...Here's to a stable and peceful Iraq (insert 3 cheers here)

-- June 14, 2005 12:43 PM ∞

mark wrote:

Thank you Ron & Sara, you are exactly right in keeping the violence in perspective. How many of you have heard about the mass graves uncovered in Samarra, Nasariah, Kirkuk or Safwon? I bet not many, some of the graves contained entire villages. We all here about the car bomb that kills 18 or 80 for that matter, but have you ever stopped to realize how many tens of thousands Saddam had executed yearly? The truth is there are probably 50000 thousand people a year not getting killed in Iraq because of our actions. Saddam and his two monster children would sit on the back patio of his palace located in the ancient city of Babylon and shoot people in town just for the sport of it. The ancient city is still there and breathtaking I might add! How about the perfume palace, located on the International airport property in a beautiful palace complex? The perfume palace is where woman were held against there will for the sexual pleasure of Saddam and all his henchmen. Well it is now closed as well and woman do not have to be afraid of having there families all killed so they can spend a life of rape and sexual abuse by this madman. Sara, o few years from now you will be able to come to Iraq. When you do you must go to the city of Err, (Nasariah) it is in the south near where Moses built his ark, the birth place and childhood home of Abraham is still there and is open for tours. The family giving the tours has lived there for several hundred years and passes the homes history down one generation at a time. Best Regards to all

-- June 14, 2005 12:53 PM ∞

Sara Madgid wrote:

Thanks, Mark. :)

An article to show that the Long Arm of the Law.. catches up to people eventually, one bandit or group of them at a time, like the Old West.. Because there is a Law Enforcement Officer overseeing it all... who cares about the outcome, and holds all the cards.

Psalm 5:6 You shall destroy those who speak falsehood; The Lord abhors the bloodthirsty and deceitful man.

Sara.
---
Iraq security forces arrest reputed Al Qaeda suicide car bomb maker
(AP)
14 June 2005

BAGHDAD - Security forces have captured a reputed key member of Abu-Musab al-Zarqawi�s Al Qaeda in Iraq terrorist group who is accused of building and selling cars used by suicide bombers, the Iraqi government said on Tuesday.

The suspect was identified as Jassim Hazan Hamadi al-Bazi, also known as Abu Ahmed, and was arrested June 7, it said in an announcement. It added that he was part of an Al Qaeda cell run by a man identified as Hussayn Ibrahim.

Al Qaeda in Iraq and other extremist Islamic groups have been blamed for many of the suicide car bombings, beheadings and attacks that have killed at least 1,009 people since the Shiite-led government was announced on Feb. 28.

According to the announcement, al-Bazi built and sold remote-controlled bombs used in roadside attacks from an electronic repair shop in Balad, 80 kilometers (50 miles) north of Baghdad.

It added that al-Bazi sold the bombs for about $18,000 each �and was involved in building suicide vehicle� bombs and land mines that were used in Balad and Samarra, 95 kilometers (60 miles) north of Baghdad.

One such suicide car bomb attack in Samarra on Monday, and an ensuing gunbattle between insurgents and police, killed three policemen and a civilian.

It said al-Bazi �was also an active weapons dealer selling missiles, guns, mortars and hand grenades. Iraqi security officials believe he is a primary suspect for providing weapons and the training for attacks against the Iraqi people, the Iraqi government and the Iraqi security forces.�

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June77.xml§ion=focusoniraq

-- June 14, 2005 2:19 PM ∞

sherii wrote:

more news
http://www.csmonitor.com/2005/0608/p06s01-woiq.html

http://mathaba.net/x.htm?http://mathaba.net/0_index.shtml?x=236004

http://www.nst.com.my/Current_News/BT/Thursday/Corporate/20050609005815/Article/

-- June 14, 2005 2:39 PM ∞

JW wrote:

O.K. We know how the NID got to all of us when we all got on the 'train' at the start, but,what about after the NID opens?
I know that we go to the bank and for X Dinars they will give us X $. Then they go to who? to recover (or profit) on the exchange transaction(s), and then that who? goes to another who? and so on and so forth until "the buck (dinar) stops here" at the last who? which are those responsible for making sure that all these billions of $'s or whatever other currencies involved don't break the bank.
Exactly how does all of this work?

-- June 14, 2005 5:50 PM ∞

Sara Madgid wrote:

An advantage of the Peg for Iraq.. curtail or end gas subsidies.

Here (below), Iraqis grumble at gas being subsidized at 4 cents per litre instead of 2 cents. The Iraqi government spends 11 BILLION (half the budget) on gas, food and handouts. When will they be able to have a truly FREE market price? The government says it will address this problem SOON.. :)

Pegging the currency would be a definite help even if they had to deal with a bit of a rush from some people cashing in, as it would not be as much as half their budget. This is because there would be many BUYING Dinar, because it would be expected by many (us included) to go up more. Then, once the initial rush is over and the market becomes stable, there would be less need for the subsidies (if at all), since it would bring the country more into line with outside market forces, making their money worth more out of Iraq (less profit for smugglers, etc).
Sara.

Iraqis reluctant to end love affair with fuel subsidies
By Steve Negus and Dhiya Rasan in Baghdad
Published: June 13 2005 03:00

Two years ago, when the pumps ran dry at Iraq's petrol filling stations, angry motorists muttered that Americans were stealing the fuel to drive their tanks.

At the weekend, when the same thing happened, many Iraqi motorists grumbled that their own government was attempting to phase out petrol subsidies by stealth.

This shift in blame comes as Iraq's new leaders launch a drive to explain why economics, as much as geopolitics, lies behind the country's constant shortages of fuel and electricity.

Iraqis are arguing whether subsidies on food and fuel help the poor or cripple the economy. The debate was triggered when regular petrol - sold at the pumps at the subsidised price of 1-2 cents per litre - disappeared, leaving only an "improved" variety available at 4 cents.

Government oil officials claimed that the shortage was the result of nervous motorists buying supplies.

Of Iraq's $24bn (�13bn) budget for 2005, more than $11bn goes towards petrol subsidies, food rations and handouts to loss-making state companies.

In recent months government officials have highlighted the damage done by subsidies - imported food undercuts demand for Iraqi farm products and cheap fuel encourages smuggling. They also point out that the electricity ministry has run short of money to buy diesel fuel for generators, contributing to power cuts.

However, Laith Kubba, a government spokesperson, said: "The government has to tackle these issues soon, but we need to have ways of ensuring that there is a strong social net . . . Once that is in place, one can move more aggressively."

http://news.ft.com/cms/s/56bbe464-dba7-11d9-913a-00000e2511c8.html

-- June 14, 2005 6:31 PM ∞

Sara Madgid wrote:

I sense a little frustration out there with the press.. don't you?
Sara.
---
The left's war for international affection
Posted: June 14, 2005
� 2005 Creators Syndicate, Inc.

... we must not delude ourselves into thinking the war is a public-relations contest and place ourselves and our troops into a politically correct straightjacket in order to score higher on the next international poll.

The notion that our success in the war will depend on our image is appeasement-driven psychobabble. But if the Left is so convinced of it, isn't it time they ceased and desisted doing everything in their power to destroy our image?

http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=44757

Quran desecration crock a win for Jihad spin docs
June 12, 2005
BY MARK STEYN SUN-TIMES COLUMNIST

Why would an organization in the human rights business want to trivialize the murder of millions in totalitarian death camps by comparing them with a non-death camp that flatters every aspect of the inmates' culture? If Gitmo's a gulag, what words are left for the systemic rape being practiced by the butchers of Darfur? Or is it because they've so exhausted the extremes of their vocabulary on Guantanamo that the world's progressives have so little to say about real horrors like Sudan?

According to the Encyclopaedia Britannica, some 15 million to 30 million prisoners died in the Soviet gulags. By comparison, Guantanamo at its peak held 750 prisoners; currently, there are 520; none have died in captivity, and, as I wrote 3-1/2 years ago, it has the distinction of being "a camp where the medical staff outnumber the prisoners." You'll get swifter, cleaner and more efficient treatment than most Canadians do under socialized health care. It's the only gulag in history where the detainees leave in better health and weighing more than when they arrive. This means they're in much better shape when they get back to their hectic schedule of killing infidels: Of the more than 200 who've been released, around 5 percent -- that's to say, 12 -- have since been recaptured on the battlefield.

No serious allegation of torture at the camp has been substantiated, and in the al-Qaida training manual found in Manchester, England, a couple of years back Rule 18 couldn't be more explicit: When held captive by the infidel, members must "complain to the court of mistreatment while in prison" and say that "torture was inflicted on them." A healthy skepticism would thus seem to be advisable. Instead, Thomas Friedman of the New York Times runs around shrieking like a hysterical ninny that Washington needs to shut down Guantanamo right now -- not because of anything that actually occurred there -- but because of negative "perceptions" of the camp in the overseas press.

And would caving in to those negative perceptions lead to any better press? Nobody got killed in Gitmo, so instead America's being flayed as the planet's No. 1 torturer for being insufficiently respectful to the holy book of its prisoners, even though the Americans themselves supplied their prisoners with the holy book, even though Americans who fall into the hands of the other side get their heads hacked off, even though the prisoners' co-religionists themselves blow up more mosques and Qurans than the Pentagon ever does, even though the preferred holy book of most Americans is banned in the home country of many of the prisoners, where respect for other faiths is summed up in the headline, "Seven Christians Released In Saudi Arabia On Condition They Renounce Private Religious Practice."

That was in the British Catholic newspaper, the Universe, last week, by the way....

http://www.suntimes.com/output/steyn/cst-edt-steyn12.html

-- June 14, 2005 8:33 PM ∞

Ade wrote:

How am I supposed to cash some in if it hits in July?

-- June 14, 2005 8:54 PM ∞

Sara Madgid wrote:

JW;

My thoughts on what you said..
You said:
"I know that we go to the bank and for X Dinars they will give us X $. Then they go to who?... which are those responsible for making sure that ... (it) don't break the bank?"

Very simply, you do get your $ for the X Dinars, that is your part. Those who get the Dinars use it to buy and sell like our currency is used. It is valued by how much people are willing to pay for it, as is our currency. That is based on hard numbers about GDP, exports, reserves, and other formulae as well as what the market will bear. I think you should just leave the economic situation of how to use the money you cash in to those who will take your money and use it. It won't break their piggy bank because lots of others will jump in and buy up what you sell, particularly if you sell early and low (like at ten cents).

Ade, you said:
"How am I supposed to cash some in if it hits in July?"

I think we ought to cross the bridge when we get to it (if it even ends up being a bridge to cross at that time). That is because the entire ballgame will be different when you are thinking of cashing in. In the post I quoted, they thought it might become freely traded on the currency exchanges. The quote was:

"Out of germany via burbank friend is that the German version of forex (DAX) is anticipating trading nid on the market by mid-july if it's tradeable there, it would be internationally tradeable." http://truckandbarter.com/mt/archives/000502.html#11868

If so, it will be easy to cash in. :) Just drop in to a currency exchange bank.. there are lots of them. Don't get stressed out about where to cash them til you have that dilemma.. such 'problems' will likely resolve themselves as we go along.

Sara.

-- June 14, 2005 9:56 PM ∞

mark wrote:

I meant Noah and his ark! Not Moses, Next time I will proof read!

-- June 14, 2005 10:49 PM ∞

Sara Madgid wrote:

African Islamics killing thousands in Iraq..
Sara.
---
More North Africa Terrorists Heading to Iraq
Tuesday, June 14, 2005

DAKAR, Senegal � Up to 20 percent of suicide car bombers in Iraq are from Algeria, a sign of growing cooperation between Islamic extremists in northern Africa and like-minded Iraqis, a senior U.S. military official said Tuesday.

The American officer said terror cells in the Middle East and northern Africa were increasingly joining forces as they face crackdowns in their own countries, leading to a stepped-up flow of money and Islamic extremists to Iraq.

Forensic investigations have revealed that 20 percent of suicide car bombers in Iraq are Algerian and roughly 5 percent come from Morocco and Tunisia, according to the officer with responsibilities in Europe and Africa. The officer spoke on condition of anonymity, preferring for reasons of protocol to let U.S. commanders in Iraq speak on the record.

The United States has reacted by funneling more money and troops into north and northwest Africa to train and equip armies to combat the growing threat from local terror and insurgent groups like Algeria's Salafist Group for Call and Combat, which is believed to have links with Osama bin Laden's al-Qaida network and is considered a terrorist organization by the United States.

The Algerian group was accused of involvement in kidnapping 32 European tourists in the Sahara in 2003 and launching a raid into Mauritania this month that left 24 people dead.

Last week, U.S. troops from the European Command �which overseas U.S military interests in Europe and most of Africa � kicked off a two-week counterterrorism training exercise called Flintlock involving forces from Algeria, Chad, Mauritania, Mali, Niger, Senegal, Nigeria, Tunisia and Morocco.

The officer said north African Islamic militant groups were providing some cash to the insurgency in Iraq � about $200,000 so far, mostly funneled through Europe to Syria and into Iraq.

Underground European networks were providing more cash, while African networks were providing manpower � mostly unskilled militants used to drive and then detonate car bombs that have killed thousands.

http://www.foxnews.com/story/0,2933,159563,00.html

-- June 15, 2005 12:15 AM ∞

guy incognito wrote:

FOUND THIS AT AL JAZEERE.NET
sorry it's so long but i wanted to share it all:

Iraq unveils plan to triple oil output

Tuesday 14 June 2005, 14:56 Makka Time, 11:56 GMT
Iraq has announced an ambitious 10-year plan to triple oil production to 6 million barrels per day by 2015, saying it will need $20 billion in foreign investment to boost output.

NK Al-Bayati, director-general of Iraq's Oil Ministry, told the Asia Oil and Gas conference: "We have a 10-year broad plan. Our expansion philosophy is to try to replace depleted production volume and add to our national reserves."

Al-Bayati said the increase in output from the current level of 1.8 million barrels per day (bpd) would be done in two phases.

Under the first phase, oil production would increase to 3.5 million bpd to 4 million bpd in 2010, and 5.5 million bpd to 6 million bpd by 2015, he said in an address to about 1200 delegates.

Al-Bayati said Iraq was optimistic it would be able to achieve the target despite the ongoing violence in which oil pipelines were also targets.

"We are very optimistic. We have to be. We have no alternative," he said. "God willing the money will come."

Al-Bayati said Iraq would try to borrow from the world community and invite international oil companies to modernise its oil industry.

"We hope the foreign oil companies will help us achieve our goals in these difficult times," he said.

World's second-largest reserves

Iraq has the world's second-largest proven reserves at about 115 billion barrels, but production has been sharply reduced by war and more than a decade of UN sanctions.

The battered oil sector also is being targeted by fighters opposed to US-led forces.
Al-Bayati said that to boost output and woo international investors and oil companies, Iraq needed to ensure security, put in place a legal framework and formulate national oil policy.
"Hopefully this (when in place) will help regain international confidence in Iraq. Iraq will become a new hot spot in the Middle East for oil production," he said.

Al-Bayati said some international oil companies such as Malaysia's Petronas were exploring the prospect of drilling for oil in Iraq.

"Oil companies have a huge role to play. We have a long association with Petronas. We discussed with them cooperating on a block in the western desert. We discussed with them the development of one of the giant fields in the Basra region in the south," he said.

Keen investors

Petronas president Hassan Marican said on Monday that the national oil firm was keen to invest in the upstream oil and gas business in Iraq.

"I think any oil and gas players cannot ignore Iraq," he said, adding that discussions were ongoing.

But not all other international oil companies are expected to rush to Iraq.

Richi Kruger, vice-president Asia-Pacific/Middle East for ExxonMobil Production, said the major factor for foreign oil companies would be whether the confidence and safety of workers could be ensured.

"On the political side, we have to have confidence in the sanctity of the contract," he said.

-- June 15, 2005 5:39 AM ∞

Leo32 wrote:

"Psalm 5:6 You shall destroy those who speak falsehood; The Lord abhors the bloodthirsty and deceitful man."

Sara.

Comments: All these guys fully qualify to fit into this definition you have quoted, the cruel musketeers are, GWB, Tony Bliar, Rumsfeld, Rice, Cheney, Wolfowitz, Perle and everybody from White House.

Bye Bye

-- June 15, 2005 5:58 AM ∞

guy incognito wrote:

Sorry all i mistyped at the top of that. it was from aljazeera.net vice aljazeere i know most of you figured that out but i just want to make sure credit is given where it is due

-- June 15, 2005 6:50 AM ∞

Sara Madgid wrote:

Leo32;

You make me laugh.
By your valuation, King David, the British 'Navy' (who defeated the French Armada) and the allies in WW2 (among many others who went to war in history) - all of whom shed blood, are "bloody" men. But wisdom is justified of her children.

Luk 7:33-35 ...John the Baptist came neither eating bread nor drinking wine, and you say, 'He has a demon.' The Son of Man has come eating and drinking, and you say, 'Look, a glutton and a winebibber, a friend of tax collectors and sinners!' But wisdom is justified of all her children.

Mark;

Tis ok, we knew what you meant. :)
Sara.

-- June 15, 2005 9:33 AM ∞

Sara Madgid wrote:

Guy;
That was an interesting post. Thanks. :)
Again, the only obstacle to production and recovery is the insurgency.

Mark;

Make that the SPANISH Armada in my last post.. proofreading is truly necessary, isn't it?

Sara.

Oh, by the way..
It looks like the peg wasn't today, as Lance once posted (seemed credible, too).
But I didn't get into Dinar investing because of Lance or his predictions,
did you? :)
We're still waitin on the train..
I figure we'll kill and eat the fatted calf yet..
guess a little goose was necessary to eat first, though...
As this humorous anecdote says,
"Oh I may go off on a wild goose chase once in awhile...
but it's just because the free-range ones taste so much better."
:)
Sara.

-- June 15, 2005 10:02 AM ∞

Sara Madgid wrote:

Liberty is the one thing you can't have unless you give it to others.

---

When it seems you can't forgive, remember how much you have been forgiven.

---

"When someone loves you, the way they say your name is different. You just know that your name is safe in their mouth."
Billy - age 4

---

-- June 15, 2005 11:13 AM ∞

Terrance wrote:

Everyone on this board is always talking about "the peg" and "the peg date". There will be no "peg date". The ICB controls the value of the Dinar and a true value will be established slowly through time as the ICB slowly takes its grip off of the currency.

Aloha -

T-

-- June 15, 2005 12:52 PM ∞

Carl on Wilson Lake wrote:

Terrance:
Totally Correct....
Just some on the board get a little antsy...
Wishful thinking sometimes overrules..... to the eye what is obvious.

-- June 15, 2005 1:14 PM ∞

itroxell wrote:

Lance has spoken...

"Expecting news on the currency law later today. Also have two independent sources who say the 1st of July is still valid for the increase in value of the dinar. Ok, fair question qualify these two sources, People I have not spoken to in the past who claim to be in a high positions and agree the first of the month is looking good. They are new to me, nuff said. Also a member claims to representative of Wells Fargo Co. and says they have been trained to handle dinar and are prepared to handle all exchanges, and have been tasked to prepare for new wealth management needs of dinar holders. This is not new, but good to know. One of our resident mathamatic gurus shares support and resistant levels that suggest holding dinar until .72 then cashing out. Lance"

investorsiraq.com

May face is getting blue.. holding my breath...

Good Day All

-- June 15, 2005 1:15 PM ∞

Sara Madgid wrote:

itroxell;

Very interesting post.
Thanks for posting it. :)

Sara.

-- June 15, 2005 2:16 PM ∞

Carl on Wilson Lake wrote:

OK EVERYBODY!!!!
ATTENTION!!! HEY!!! CAN I HAVE YOUR ATTENTION HERE!!
ALL YOU WILD "DINAR" GOOSE CHASERS LINE UP ON THIS HERE LINE...
OK!!! LANCE YOU HAVE THE GOOSE...YOU GO AHEAD AND START RUNNING...LANCE!!...LANCE!!!...HOLD THAT GOOSE TIGHT DAMIT!.... IT MIGHT SLIP OUT IF YOU START CARRYING HIM LIKE A FOOTBALL...BESIDES YOU ARE GOING TO SQUEEZE ALL OF THE SH-- OF THE GOOSE, AND WHAT GOOD IS A SH--LESS GOOSE?
LANCE....I'M GOING TO GIVE YOU UNTIL JUNE 30TH TO RUN, THEN WE ARE GOING TO TURN THESE GOOD FOLKS LOOSE ON THE "DINAR GOOSE".
NOW FOLKS ....LANCE HAS DONE HIS BEST TO STUFF THAT "DINAR GOOSE" WITH A LOT OF SH-- AND HE HAS REALLY SPREAD IT ON THICK, SO IT SHOULD BE A REAL SLICKY CHASE ....
ONCE I FIRE THIS HERE CAP PISTOL, I WANT YOU TO DO YOUR BEST TO CATCH THAT "DINAR GOOSE". THE FIRST ONE TO WRESTLE THAT SH-- STUFFED GOOSE TO THE GROUND, PUT THE GOLDEN CHAIN AROUND HIS NECK AND LEADEM BACK TO THE START LINE BY JULY 1ST, IS GOING TO BE DECLARED "KING OF THE WILD GOOSE CHASE" AND TERRANCE IS GOING TO ALLOW YOU TO BASTE THAT GOOSE ON THE SPIT, DURING OUR BEACH CELEBRATION.
GOOD LUCK TO ALL OF YA CHASERS...

-- June 15, 2005 2:44 PM ∞

Dylan wrote:

July 1st? WHy do so many think it will open on the day the soverign governement is announced. I would think it would have to be sometime after that as then the sovergn government would show some backbone as to the Iraq economy beginning to get on its feet.

-- June 15, 2005 3:07 PM ∞

just got on the train wrote:

I just talked to a Wells Fargo investment advisor. She told me they were not trading the dinar just yet because of the nonstability. I asked her was it a chance in the near future and she said yes. I think that is good sign. Don't you?

-- June 15, 2005 3:18 PM ∞

Sara Madgid wrote:

Carl;

I think in the spirit of our national pastime, you ought to give us "peg" Dinarians a fair "kick at the cat".

I conceed strike One (June 15th), but that really isn't the end of the entire ballgame, or even of the "peg" Dinarian's time at bat. July 1 will be the next ball toss. :)

Admit it, you'd be happy enough as an investor if the "peg" investors are correct, even if it is contrary to your own expectations.. as it will move up the BBQ-on-the-beach date in Hawaii considerably. :)

Aloha!

Sara.

Just got on the train - sounds good. :)
Dylan - time will tell.

-- June 15, 2005 5:02 PM ∞

Sara Madgid wrote:

JW and Ade, did you read my replies to you? If so, did you agree or not?
http://truckandbarter.com/mt/archives/000502.html#11916

Sara.

-- June 15, 2005 5:11 PM ∞

Ade wrote:

Thank you all very much for your comments. I guess we should just wait and see come July, and worry about cashing in when the money actually hits.

-- June 15, 2005 5:31 PM ∞

JW wrote:

Sara,
Thanks for your insight. As entertaining and fun as all of this heresay is, I am trying to find something more solid to look for in the way of indicators (if they do indeed exist) that something good is about to happen.
Even though I am "on the train" and believe in the Dinar doing good things, I am still curious about the Afghan AFA and why I have'nt heard anything about people "riding" that train.
Could (did)it actually happen, or did it not?
I know that it went from zero.poop to about $22 to $23K per million almost overnight, and had gotten up to about $24K not long ago. A 2200% profit on every approx. $1000 invested would make a lot of buisness people cry like babies and I know it did'nt take as long for the AFA to jump upward after the Taliban was defeated and the new government took over.
Even if the Dinar opens at a penny, that is still 900% profit per million for every $1000 invested. I would really really really want more, but in all honesty, could'nt really complain, right? Is the Dinar opening going to suprise us all, or will we see things happening to tell us to get ready?

-- June 15, 2005 5:34 PM ∞

robert wrote:

I have some magic beans for sale? This seems like a great place to sell them. The beans will grow into a big pile of dinar.

-- June 15, 2005 7:12 PM ∞

RON wrote:

Hello all
Carl that was some very funny stuff.I am glad that there is humor here on this thread.It means so much to have a laugh every once in awhile,life would be very dull without humor.Good luck to all and IRAQ. Ron

-- June 15, 2005 7:32 PM ∞

Carl on Wilson Lake wrote:

Sara:
I would be tickled to death if the dinar pegged tonight, tomorrow or whenever, and you guys show me wrong on this issue of pegging in June or July.
I would laugh all the way to the bank.
My post are done without malice,and with a grin on my face. We might as well laugh and joke with each other while we wait on the dinar train to move.
As I stated, before, I have a whole lot of hot sauce to go with my foot sandwich if I have stuck my foot in my mouth regarding the peg.
I still believe due to the time it is going to take to rebuild Iraq, get better security, achieve more economic stability and governmental stability, the dinar will not make any significant move until mid 2006 to 2008. Even then, the world must see real changes, not promises or good intentions to achieve success.
The Currency world lives by the hard facts of political and economic reality. No amount of wishing, hoping, or begging is going to make the dinar do anything until the situation and environment is right for a strong economic growth and a stable Iraqi government.
The IMF, and other financial institutions must feel their investment are reasonabily safe.
That is just plain ole basic common business sense in action.
Corruption is still a way of life in Iraq. The new leaders are slowly removing this way of life and corruptive thinking. However, it is not going to happen over night.
A good example is the ISX. Presently it is a wild west show, with how they handle stocks and how it is requlated. The ISX board is doing foreign investors a favor by not allowing trading until they get a strong handle and control of the stock market.
Foreign investors presently would be eaten alive, with how things are done there presently. The result would be a loss of ISX credibility which would spell trouble for the stock exchange.
Sometimes, delay, is the higher power's way of protecting naive thinking. Being patient is a virtue sometimes.
So! It is my opinion, without intervention from a higher power that wants to surprise all of us,you might as well get out ya shovel, dig your foxhole, make up some green tea and invite your neighbors over, cause we goin to be here a while.
By the way, I take two teaspoons of sugar in my tea. Oh! and Sara! do ya have any almond crumb cookies to go with this?

-- June 15, 2005 11:34 PM ∞

Sara Madgid wrote:

Any indicators for a Positive Outlook in the short term?

JW;
You said:
"I am "on the train" and believe in the Dinar doing good things.."

I agree with you. There are a LOT of factors going for Iraq and the Dinar investment short and long term, no doubt (good GDP and export capacity, entry into the GCC likely, etc.). About the only thing working against Iraq is the insurgents. Remove or neutralize them, like cancer from a body, and you have a healthy, prosperous country that will do good things in the Middle East, near and long term.

You also said:
"I am trying to find something more solid to look for in the way of indicators (if they do indeed exist) that something good is about to happen.... Is the Dinar opening going to suprise us all, or will we see things happening to tell us to get ready?"

As far as this goes, since I don't know President Bush or the President of Iraq personally, I am not in that kind of insider position to tell you exactly when to get ready. But for indicators, there are quite a few out there worth looking at. My friend's Jordanian connection being unable to supply Dinars by the end of the month, the push for less cash in Iraq and more tracking by banks of transactions (sherii's post June 14th), rumors of Wells Fargo "perhaps in the near future" carrying Dinar (just got on the train's post today), and Lance's rumor, quote, "the German version of forex (DAX) is anticipating trading nid on the market by mid-july if it's tradeable there, it would be internationally tradeable." http://truckandbarter.com/mt/archives/000502.html#11868 .... as well as questions about why that truck was filled with Dinars and whether it means support from the Kuwaiti banking sector (which is the strongest banking sector in the region), and the advantage of stopping the need for gas subsidies... factors such as these make a person wonder about the economic prospects of the Dinar in the near term. They certainly confirm my suspicions that it will peg in the near term rather than slowly increasing in value over years to come as some Dinar investors are thinking it will.

Some people say there was this "hype" last year, too.. but last year they did not have a duly elected government in place, or a plan for putting Iraq on its feet. And, as Mark pointed out, even though it isn't rosy with the insurgents making friends daily with their suicide bombings, the Iraqi people are a lot better off where they are now than before the US went in to Iraq, overall. http://truckandbarter.com/mt/archives/000502.html#11881

The media drones that the troubles in Iraq will never end, yet, I continue to see the Coalition forces getting yet another high powered insurgency leader, so I just don't buy that.
http://truckandbarter.com/mt/archives/000502.html#11894

As one Arab commentator said:
"This insurgency�s strategy is to have no strategy at all. Unlike other
resistance movements, it has made no effort to win the people�s support
by winning �hearts and minds.� Instead, it has killed them
indiscriminately, in their market places, their homes and their mosques.
It shows no interest in gaining legitimacy in the eyes of the
international community, including the Arab world. It has fielded no
recognizable political program for a future Iraq, no well-defined
ideology, no popular leader, no articulated cause, and no unified goal.
If the insurgents� objective is to drive the coalition forces out and
then get to rule Iraq, they surely are going about it in a destructive
manner. "
http://www.arabnews.com/?page=7§ion=0&article=65067&d=8&m=6&y=2005

Someone on this board once said Z would never be killed or captured. I think we can chalk up his death at this point - as Sporter posted http://truckandbarter.com/mt/archives/000502.html#11520

They are just following the dead man's orders and creating mayhem, but without any real plan or purpose behind it. As that excellent Arabic article said, the Insurgency can't win. http://truckandbarter.com/mt/archives/000502.html#11571

Also, they are forcing some of their suicide bombers, so they hardly have an endless supply of willing ones:
http://truckandbarter.com/mt/archives/000502.html#11717

These are some of the factors I see going into the insurgency being shorter term than some people think, the Dinar moving sooner than some think, and Iraq getting help faster than some think. It may be that they will up production faster, too, than some think. They certainly are willing to do so, saying they would like to TRIPLE production, as guy said, today: http://truckandbarter.com/mt/archives/000502.html#11920

Sara.

-- June 15, 2005 11:55 PM ∞

mark wrote:

JW;

To answer your question on Afghanistan, YES many American civilians and military made a bundle on that speculation. Pork chop if you are reading this I bet you wish you hadn�t started the fire and lit your cigars with your Afghani �..I also know many people who didn�t take advantage of that situation and they are a little ticked they did not speculate with the other LUNATICS throwing their money away. Afghanistan has nothing to base their currency on, granted the Opium/Heroin market is pretty lucrative, just not accepted in many places. Iraq is the big Kahuna of all currency speculation. I read an article out of the middle east last December, (sorry I don�t remember the exact name of the brief) stating Iraq was putting much pressure on the Dinar in order to keep it artificially low in order to build the capital to pay off speculators. Rumors around Baghdad are a buzz of some significant action in the very near future. I will not give sources or more specific information than that, and know I am not playing any if I tell ya I would have to kill ya game. Iraq will make huge profits on the speculators, they will raise the value .25 to .30 cents at a time until it reaches a stable rate based on a PEG Carl. Where they will make their money and increase their wealth is buying and holding Dinar through the next increase in price. But wait�wait they will have to pay all that money out to cover people trading it in!!! If I buy 1BN Dinar for .10 cents and it stays at this rate for a month or two, then jumps to .50 look how much wealth was just created. Ok OK but you have to pay the people�they are cashing in! Yes they are and yes you do, Iraq is the biggest holder of Dinar their reserves will grow as the speculators grow and they have more of it. But inflation inflation, the cost of living her has increased 145 % in the last 6 months. The money has not. I am not an economist, so I expect some pointy headed guy holding a sheep skin somewhere will blast me on my silly dribble and not so complicated dissertation on very complicated matters�..Go ahead and get me, I have something you don�t�I work here, I live here I see and hear things you don�t. If I live through my road trip to Mosul tomorrow I will catch a ride to Baghdad and my little corner of this project, hang in there and let them scoff, it really is entertaining!

-- June 16, 2005 1:14 AM ∞

Sara Madgid wrote:

JW;

This article yesterday says that the religious zealots are now powering the insurgency.

Jihad may be fueling attacks
USA TODAY BAGHDAD � Insurgents killed at least 28 Iraqis Tuesday in two new suicide attacks that suggest the rebellion is fueled by growing ranks of religious fanatics and foreign fighters. The rise in suicide attacks has prompted concerns that the greatest threat from insurgents may be shifting from former loyalists of Saddam Hussein who have lost political power to religious zealots.
http://www.usatoday.com/printedition/news/20050615/1a_lede15.art.htm

I think it totally unrealistic for anyone to believe that the religious zealot insurgents could take over Iraq and just turn it over to their clergy to govern. I cannot see driving out the present government and installing a clergyman instead. There is just a few different skills needed to be a President rather than a mullah, like diplomacy and the willingness to compromise and get concensus? They do fine with their own flocks of "believers" but when they had to deal with someone with a differing opinion, how would that work.. beheadings? I wonder if the zealots think far enough ahead to be wishing another butcher like Saddam in power by their acts 'for Allah'. It would be a rare mullah indeed who would get broad spectrum concensus and remain faithful to radical Islam.

Even as Saddam destroyed the land and killed his people, so any other "seed of evildoers" walking in his steps would never be honored (though they might be feared as bloodthirsty Saddam was).
Isa 14:20 You will not be joined with the (honored) in burial, because you have destroyed your land, and killed your people: the seed of evildoers shall never be honored.

But perhaps they don't teach this degree of clarity in thinking to their recruits; and they obviously don't teach such critical thinking skills to them in whatever schooling they did receive. Perhaps that is why they have to go to the poor, uneducated masses, such as those in Africa, to find recruits:
http://truckandbarter.com/mt/archives/000502.html#11919

Going back to a time of butchery like in the days of Saddam doesn't appear to be a viable solution for those who live in Iraq or who care and are watching the situation in Iraq. It seems even less viable to anyone who doesn't care for their flavor of "truth" being imposed on others. FREEDOM means the ability to choose, for good or evil, what you wish to believe. The insurgents are fighting to take that freedom away, so I ask you, will they succeed and be blessed in this endeavor by the "powers that be" which are moving in the world? As that Arabic commentator stated, they have already lost by seeking total power.

"... the Iraqi insurgency and its terrorist allies, not to mention its Islamist and pan-Arab sympathizers elsewhere, have already lost the political battle because they have failed to present a clear political alternative to the democratization project. The Iraqi insurgency�s future is dim because Al-Duri and Zarqawi are seeking total power at a time that Iraqi politics, and beyond it the politics of the greater Middle East, are being recast on the basis of power sharing and compromise. Because they want all of power they will end up having none of it. The insurgency may continue for many more months, if not years, in the area known as Jazirah (island), which accounts for about 10 percent of the Iraqi territory, plus parts of Baghdad. It may continue killing people but will not be able to stop the political process."
http://truckandbarter.com/mt/archives/000502.html#11571

Sara.

-- June 16, 2005 10:04 AM ∞

Sara Madgid wrote:

Thanks, Mark. :) Well said.

Carl;

You said:
"I still believe due to the time it is going to take to rebuild Iraq, get better security, achieve more economic stability and governmental stability, the dinar will not make any significant move until mid 2006 to 2008. Even then, the world must see real changes, not promises or good intentions to achieve success.
The Currency world lives by the hard facts of political and economic reality. No amount of wishing, hoping, or begging is going to make the dinar do anything until the situation and environment is right for a strong economic growth and a stable Iraqi government.
The IMF, and other financial institutions must feel their investment are reasonabily safe."

Respectfully, I think you are incorrect, my friend.
Let me explain why.

I looked at how the World Bank works with currencies in other countries, and found that this is not like owning a stock. This is not like a stock where you would expect Iraq to PROVE itself first and then see an appreciation in the value of its currency. The way the World Bank works is it looks to see if a country has a plan, and the willingness to accomplish what it has set out to do. THEN it backs the currency. This is much different than a stock, so much so that your comment that, "the world must see real changes, not promises or good intentions to achieve success" is untrue of currency rises.

Look at Mark's example of the Afghani currency, or when a country in Africa asks for help, they don't tell it to produce so much GDP and then they will assist it, no.. they ask if they have a viable plan and the willingness to accomplish it. If so, the monetary backing is given. And in the case of Iraq, they have a commodity called oil, unlike Afghanistan (as Mark pointed out, illegal drugs don't really count toward GDP). Who has first say on getting that oil? The US who is spending its money and blood trying to get the country up and running as an independent entity. And YOU, my friend, are invested in that country, and its economy and oil, through Dinars. :)

The IMF can feel reasonably sure of their investment if the US is there making it work and are not about to turn tail and run with its tail between its legs. As long as President Bush is in the Whitehouse, I don't see any problems financially with willingness to get the job done, do you?

Sara.

PS I have Green Tea, honey AND almond crumb cake/cookies.. (sorry, I don't have any sugar on hand, hope the honey is good enuf :). ) Shall I bring em to the BBQ we're going to have SOON in Hawaii?? It will go along nice with the fatted calf Terrance is going to roast over the spit on the beach. :)

Sara.

-- June 16, 2005 10:18 AM ∞

Sara Madgid wrote:

Here, the Sunni's are finally recognizing that if they don't get into the political spectrum, they are going to be out in the cold. Can they compromise a little or will they prove themselves unwilling to power-share, inflexible and despotic as Saddam once was? Time will tell...
Sara.

Deal struck on Sunni Arab role in drafting Iraq constitution
(AFP)
16 June 2005

BAGHDAD - A deal was reached on Thursday on the participation of the Sunni Arabs who largely boycotted January�s election in a panel to draft the Iraqi constitution, deputies and Sunni leaders told AFP.

�We have agreed with our brothers from the (Shiite) United Iraqi Alliance and the (Kurdish) alliance in the presence of Adnan al-Janabi, the coordinator for the Sunni Arabs, that Sunni Arabs will have 15 seats on the constitution drafting committee and 10 other seats as consultants,� said Abdul Rahman Munshid al-Asi, a Sunni Arab who took part in the talks.

Sunni Arabs only had two seats on the 55-member committee but the Shiites and Kurds dominant in parliament have been looking to bring in more figures from the disenchanted community.

There had been disagreement on the size, nature and conditions of the Sunni participation.

A Shiite member of the committee, MP Jawad al-Maliky, confirmed the deal. �This solution was a compromise after Sunni Arabs were adamant about having 25 members in the committee,� said Maliky.

�The consultants will not have a big role.�

President Jalal Talabani, a Sunni Kurd, last week backed the Sunni Arab demands for 25 seats and said a deal on their participation was being finalised.

But Prime Minister Ibrahim Jaafari and Shiite members of the committee said it was unrealistic to give Sunni Arabs more than 15 seats since it would distort the ethnic and sectarian balance of the panel.

Another Sunni Arab who took part in Thursday�s talks said it was now up to the Sunnis to name their committee members and consultants, adding an agreement was reached that the constitutional panel would make its decisions by consensus and not vote.

�So this means the number of seats does not matter that much after all,� said Saleh al-Mutlaq of the National Dialogue Council.

But it remains to be seen whether the deal would be accepted by the splintered Sunni Arab community which once dominated Iraq under Saddam Hussein�s ousted regime and now fuels the insurgency against the government and foreign troop presence.

Mutlaq gave a taste of the Sunni position.

�We know the drafting of the constitution is moving in a direction that does not benefit Iraq or Sunnis, but nonetheless we are hoping to change something or do something with our presence,� he said.

�The constitution is moving towards federalism and we are against it.�

Kurds, who play a pivotal role in parliament and the coalition transitional government, are pushing hard for a federal system that would bring the northern oil-rich city of Kirkuk into their autonomous region.

This has angered the Sunni Arabs and minority Turkmen.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June91.xml§ion=focusoniraq

-- June 16, 2005 10:36 AM ∞

Sara Madgid wrote:

Just like playing chess, getting the opponents knights, rooks and horses DOES make a difference to the overall battle. (I think we got the queen, Z, already, as sporter posted http://truckandbarter.com/mt/archives/000502.html#11520 )
Another one taken and note he is "FULLY cooperating", advantage our guys. How soon to checkmate?
Sara.
---

Senior Zarqawi Aide Nabbed in Mosul
Thursday, June 16, 2005

BAGHDAD, Iraq � U.S. forces captured a man known as Abu Musab Al-Zarqawi's "most trusted operations agent in all of Iraq," a U.S. general in Iraq said Thursday.

Air Force Brig. Gen. Donald Alston told reporters Thursday that Mohammed Khalif Shaiker, also known as Abu Talha or the emir of Mosul, was nabbed on Tuesday. The arrest was a major blow to the insurgency in the northern city of Mosul, Alston said.

"This is a major defeat for the Al Qaeda organization in Iraq," he said, referring to the group led by Zarqawi and allied to Usama bin Laden's Al Qaeda network. "Numerous reports indicated he wore a suicide vest 24 hours a day and stated that he would never surrender. Instead, Talha gave up without a fight."

Shaiker was captured on Tuesday in a quiet neighborhood of Iraq's third largest city, the Alston said. He said Shaiker put up little resistance in surrendering to coalition forces and supporting Iraqi security forces, and is fully cooperating with officials.

The general said tips from local Iraqis people and months of constant pressure had lead to the big get. U.S. and Iraqi security forces have announced the arrest of several senior associates of Zarqawi in recent weeks.

A statement released by U.S. Central Command said multiple intelligence sources led coalition forces to Shaiker's location. According to his former associates, Shaiker never stayed more than one night at any one residence, and always wore a suicide vest, saying he would never surrender.

Zarqawi's group has been wreaking havoc in Iraq in an attempt to derail democratic progress in the country and has claimed responsibility for several of the deadliest bombings over the past 18 months.

Last December, U.S. forces in Mosul announced the capture of one of Shaiker's deputies, Abdul Aziz Sa'dun Ahmed Hamduni, also known as Abu Ahmed, and the next day seized another deputy.

http://www.foxnews.com/story/0,2933,159763,00.html

-- June 16, 2005 10:52 AM ∞

GEORGEWOOD wrote:

Just bought my train ticket - 4 million.

Peace

-- June 16, 2005 11:49 AM ∞

Sara Madgid wrote:

Good for you, Georgewood! :)

Sara.

-- June 16, 2005 12:15 PM ∞

Michael wrote:

Mark great Post. I couldn't agree more. I have been in Balad for about 18 months and I see it as well. I see what the US is doing and have been doing day in and day out for many months. The US is not going anywhere that I can see. We are building PERMANENT structures, rebuilding old structrues. I think this is going to be GWs'legacy. This is what he will be remebered for. He is catching hell today from a lot of groups and being critcized by many for the things he is doing. I think he will one day be applauded for what he has done. I know I will wanna kiss him right on the lips if things turn out as we all hope they will. :)) I see and I read things about the 25K Dinar bill and the Dinar not being honored outside of IRAQ. I don't believe any of it. The amount of money it will take to buy the piddly amount of Dinars purchased is miniscule when compared to what this country is capable of in the near future. I don't know if it will happen tonight as the sun goes down, tomorrow, next week, next month or next year.....but I do believe it will happen. Why else would I be here right?? :)) Go IRAQ!!

-- June 16, 2005 12:57 PM ∞

Michael wrote:

Pretty Interesting thread.... :) I love it when a plan comes together :)

http://www.investorsiraq.com/showthread.php?t=6221

-- June 16, 2005 2:21 PM ∞

RON wrote:

Hello NID gang,this is some good reading and another uplift in spirt and everyday life.Keep it coming.Ron

-- June 16, 2005 3:14 PM ∞

Michael wrote:

Just saw this on another thread.... :((((

Well I have the big news, but it is all bad. I simply will not post a bad rumor. No matter how I get it. I told you I was expecting more news on the currency law and I got it, but it is still a rumor. If I can confirm it as a fact, I like most other members will post it, and we would figure it out what to do together. By the way for those brave souls who are about to go where few Foriegners have gone, I salute you. Lance

Not sure what it is, but it doesnt appear to be the news I was wanting....

-- June 16, 2005 3:26 PM ∞

Terrance wrote:

For all you old timers to the thread you will remember what was known as "The Larue Scenario". That popular IQD theory stated the currency would go to about .65 cents late spring. John Larue is an expert in the IQD and ICB and his estimates fell short of expectations. His vast intellect wasn't enough to overcome the infinite variables which can occur in and around a given economy.

So, what is the lesson to be learned: Don't overanalyze this thing. It is out of our control entirely.

The question: Then what do I do?

The answer: Stay informed on how, where, and when you will be able to convert you IQD to USD and check the conversion rate daily. That's it.

Don't waste your time reading every article about this little car bomb and that little political development. It doesn't mean squat in the big picture and even if it did you couldn't do anything about it anyway.

My advise - have fun on the thread, but for Pete's sake.....relax a bit, take a day off, and let your eyes look at something other than a computer screen.

So now, let's allow the tide carry us where it will on this IQD current - which will be straight to the beaches of Hawaii and our pig roast when that payday does hit.

All my best - I going surfing with my son now....

Aloha,

T-

-- June 16, 2005 4:03 PM ∞

Sara Madgid wrote:

It didn't look like it sometimes... Undoubtedly, it was a bit of a trial of good and bad news - of hopes up and hopes seemingly dashed - but good things did happen, eventually, for Mr. Wood. :)
Might be a lesson to learn there.
Keep the faith,
Sara.

Boost for New Iraqi Army as Australian Hostage Freed
By Patrick Goodenough
June 16, 2005

(CNSNews.com) - Australia has played an important role in training the new Iraqi army, and Iraqi soldiers returned the compliment Wednesday by rescuing an Australian hostage terrorists had threatened to kill.

Iraqi forces rescued engineer Douglas Wood and an Iraqi hostage, Saed Rasul, "while conducting a planned cordon-and-search operation for a weapons cache" in a northwestern Baghdad neighborhood, the U.S. military said in a statement.

Three suspected terrorists were captured after an exchange of fire during which no injuries were sustained.

"It's a positive sign for the future of Iraq that Iraqi soldiers played a key role in my release," engineer Douglas Wood said in a statement, released by Nick Warner, the head of an Australian emergency response team set up in Baghdad after the 63-year-old was kidnapped.

Prime Minister John Howard, speaking in parliament in Canberra, said Iraqi forces had conducted the operation, "in cooperation in a general way with force elements of the United States."

He expressed the nation's thanks to "our Iraqi and American friends."

http://www.cnsnews.com//ViewForeignBureaus.asp?Page=\ForeignBureaus\archive\200506\FOR20050616a.html

-- June 16, 2005 4:38 PM ∞

Carl on Wilson Lake wrote:

Sara:
My comments about how currencies get their value, comes from my study course material from the Forex Currency study course on trading world currencies.
This material goes into detail on methods used in determining which currencies to buy or sale.
I am doing the study course, so when the dinar does go on the forex, I will have some idea just how to trade international currencies with the dinar.
just paraphrasing the masters...
Carl

-- June 16, 2005 6:33 PM ∞

Sara Madgid wrote:

Carl;

Thank you, Sir.
I didn't mean to deprecate your sources.
I just was going by what I learned by surfing the web,
reading articles about it in the news..
and anecdotal material like Mark's on Afghani currency.

"The young know the rules, but the old know the exceptions."
Perhaps Iraq could be an exception to the rules you are learning about.
:)
After all, how many currencies have the current world superpower on hand,
with its best and brightest economic stars, all working to help them make it work?
The support of the US (and coalition) has to make a little difference to the formulae,
don't you think?
Sara.

-- June 16, 2005 6:52 PM ∞

Sara Madgid wrote:

Bush Is Expected to Address Specifics on Iraq
By Jim VandeHei
Thursday, June 16, 2005; Page A08

The president takes seriously his responsibility as commander in chief to continue to educate the American people about the conduct of the war and our strategy for victory," said Dan Bartlett, a senior adviser. As part of the new focus, Bush will meet with Iraqi Prime Minister Ibrahim Jafari at the White House for the first time next week and dedicate several speeches to the war, including a major address on the first anniversary of Iraq's sovereignty this month, White House officials said.

Bush offers a generally optimistic view of Iraq that aides say comes from what he sees as substantial long-term progress. The president considers the January elections that allowed the United States to turn over more control of security one of the biggest triumphs of the broader battle against terrorism. He also believes the Iraqis are moving closer to a deal to form a new government and are creating a functioning security force that will eventually allow the United States to pull out.

Bush has no plans to change his upbeat assessment of Iraq, where fresh waves of attacks since the beginning of last month have killed nearly 100 Americans and many more Iraqis. Vice President Cheney recently said the insurgency is in its "last throes," an assertion he did not back away from when asked this week, contradicting reports that Sen. Joseph R. Biden Jr. (D-Del.) and Rep. Curt Weldon (R-Pa.) brought back from a trip to Iraq.

Even some Democrats say Bush could turn things around if he spoke frankly about what has been done and the obstacles to finishing the job.

Bush has often avoided commenting on the situation in Iraq in deference to the fledgling government, concerned he might complicate its work. "The idea of giving them space was the right move, but we also have to take into consideration his responsibility to educate the American people," the top official said.

http://www.washingtonpost.com/wp-dyn/content/article/2005/06/15/AR2005061502184.html

-- June 16, 2005 9:08 PM ∞

outlaw in Iraq wrote:

Hey Gang... Was just wondering how much everyones ticket cost to ride the Dinar Train? Mine cost over 20 million...

look for me at the Pig Roast...

Reguards,
Outlaw in Iraq.

-- June 16, 2005 9:21 PM ∞

Michael wrote:

This is a really old post but I think it is very interesting. If GW says I can invest and GAIN from it then I am am feeling much better about the outcome of this adventure. :)) The Dinar Train has a little smoke coming out of the stacks!!

New Iraqi Dinar (NID)

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.

Iraq has a new currency to replace Iraq�s two currencies, one of which was easily counterfeited and mostly circulated in a single denomination. Banks issue only the new currency and government employees paid in cash will receive their salaries in the new currency. Until January 15, 2004 the old and new currencies will circulate freely at a fixed exchange rate. Exchange between the old and new currencies is conducted at now charge at multiple exchange points around the country.

The other financial market structures are strong:

95 percent of all pre-war bank customers have service and first-time customers are opening accounts daily. Iraqi banks are making loans to finance businesses. The central bank is fully independent. Iraq has one of the world�s most growth-oriented investment and banking laws.

The new Iraqi dinar which is printed bu De La Rue company in the US and Great Britian, is valued at just 2 tenths of one cent today. The US treasury has a strong dinar policy and is working with the CPA (Coalition Provisional Authority) to reinstate a strong decentralized banking system in Iraq. By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March Three banks were given licence to operate in Iraq, National Bank of Kuwait, HSBC Bank and Charter bank of England.

-- June 16, 2005 10:16 PM ∞

allen wrote:

The truth about the Afghani

The afghani was revalued
old currency was demonetized, and new currency was issued

basically two zeros were chopped off

01/01/2003 4726.30 Old AFA /1 USD

revalued /reissue to;

01/02/2003 42.7850 new AFA /1 USD

----
You simply traded old for new

was done so $211 USD dollars worth of old afghani
or 1 million old afghani at $211
would not appreciatte to $23'375 dollars
new afghani

1'000'000 old afghani simply became
10'000 new afghani worth 1 apprx $233 USD

this has been posted many times on many of the forums

allen

-- June 16, 2005 10:49 PM ∞

BOB wrote:

This is BOB, a charter member of T&B.

I read all these comments and reports and thereby become almost a knowledgable as anyone, even though I put forth very little effort.

I say "thanks" to all you guys who research the information, but realistically all we need to know is that Mr. Bush has committed to the success of Iraq, and, as I have said before , he will bankrupt this Country before he will fail in his efforts in Iraq.

I am confident that when we leave Iraq, that Iraq will be on it's feet, and virtually free from terrorism and will be able to govern itself without support from anyone else.

I subscribe to this analogy and I am betting my 23 million that Mr. Bush will insure that I receive a nice profit on my investment.

I did not agree that the U.S. should be involved in Iraq and I can think of many other places for the U.S. to spend it's money, but I am capitolistic enough to think that investment in the Dinar is sound and wise.

-- June 17, 2005 2:10 AM ∞

James wrote:

I dumped 26 million lumps of coal into the Dinar Express.
Choo Choo

-- June 17, 2005 2:50 AM ∞

Sara Madgid wrote:

I believe that if the anti-war lobby (including the news media) have their way and make America leave Iraq, the war will come back with our troops onto American soil. The daily bombings and deaths of American civilians would be enormous. Fighting in Iraq gives us some time to prepare. Every American serviceman who dies over there saves thousands of Americans who would otherwise be dying in suicide attacks over here - men, women and children. Their sacrifice over there isn't senseless or for oil... it protects us. Those advocating leaving are advocating war on OUR SOIL.. is that really what the American people want?
Sara.

Experts Say Iraq Insurgency Has Reduced Terror Threat in West
By Sabina Castelfranco
Rome
15 June 2005

International terrorism experts say the situation in Iraq has diverted the attention of Islamic extremists away from the West. But they believe the threat to the West will resume, once violence in Iraq subsides.

International terrorism experts say terror networks are focusing on their fight in Iraq, temporarily reducing the dangers faced by Western countries that have been targets in the past. But Italian Interior Minister Giuseppe Pisanu, speaking recently to journalists at Rome's foreign press club, say this will change once the situation in Iraq is resolved.

"I think we need to need to concern ourselves with a return of the terrorists who went to Iraq," he said. "Once the Iraqi situation has calmed down, they will tend to return to Europe, as occurred with Bosnia, at the end of the Balkan wars."

Mr. Pisanu added that the network of Abu Musab al-Zarqawi, the al-Qaida leader of insurgents in Iraq, is more interested in fighting the West in that country than in Europe or in the United States.

Retired U.S. army colonel and international terrorism expert Vittorfranco Pisano agrees with the Italian Interior minister. He says the American and allied intervention in Iraq has definitely concentrated resistance efforts against the United States in particular and westerners in general.

"The focus is elsewhere right now," he said. "The focus is on Iraq. This has caused a diversion in terms of the emphasis that Islamic extremists attribute to targets."

"Italy is an excellent quarter or bridge in terms of linking the Balkans, the Middle East, North Africa with Europe and the western world itself. It has been a matter of convenience to exploit Italy from this standpoint, instead of actually conducting terrorist attacks as such," he said.

Italian intelligence information, made public last year, said the country has been used as a departure point for suicide attackers, linked to Osama bin Laden's al-Qaida terror network, active against allied forces in Iraq.

http://www.voanews.com/english/2005-06-15-voa28.cfm

-- June 17, 2005 3:43 AM ∞

okie wrote:

I had a real nice Business Class seat at 15 million and thought it was perfect, but the trip looks so good that I now have 2 more million and will probably get more and up-grade to first class.

-- June 17, 2005 6:52 AM ∞

Sara Madgid wrote:

Awesome Michael!
That was a great thread and an interesting speculation,
that post about the World Bank and Iraq's fortunes in the near term. :)
I also found the Presidential Order interesting. :)

As for your saying this will be President Bush's legacy, I think he has the stomach for it, the historical perspective to remain steadfast through the vitriolic attacks of the detractors, I mean. Making the tough calls for what will benefit in the future rather than just for today's appeasement definitely takes a great leader; he will be hard to replace come next election.

WHEN Iraq gets on its feet and begins to move independently, I hope they will not forget the sacrifice it took. I hope they will not listen to the jaded in saying it was just their due because of the past. I didn't see Kerry thinking it was due to them, or the other baby-faced put-your-head-in-the-sand-and-forget-it terrorist appeasers. I don't think we should sell cheap the loss of so many precious souls to make a nation free.

Sara.

PS Okie, good to see you 'put your money where your mouth is', as the saying goes. :)
I'll save you a seat.

-- June 17, 2005 9:36 AM ∞

RON wrote:

Heoo all
Iwish that the people of the U.S.WOULD STOP YELLING,AND JUST HEAR WHAT OUR LEADERS ARTE SAYING.fIGHT THE INSURGENTS OVER THERE OR BRING OUR BROTHERS AND SISTERS HOME,AND FIGHT THEM HERE ON OUR OWN SOIL.tHIS WILL BE WHEN THEY SAY "BUT I DID NOT KNOW THEY WOULD FOLLOW US HOME".Lets all start supporting and stop yelling.Good luck to Ron

-- June 17, 2005 9:36 AM ∞

Taghi wrote:

you nice people,enjoied passing through your comments surprised nobody has compared yet the monitary happening in Iraq with what actually happened with Afghani in afghanestan,it will be nice taking this matter into concideration.
Taghi

-- June 17, 2005 10:25 AM ∞

Sara Madgid wrote:

More pawns, and perhaps a horse, are caught.
Sara.
----
Iraqi police arrest 25 in overnight sweep
(AFP)
17 June 2005

KUT, Iraq - Twenty-five suspects were arrested overnight during a six-hour search operation in Kut, south of Baghdad, Iraqi police said on Friday.

�Among them was the head of a terrorist group, Abu Umar al-Jishashi, who was wanted by police,� a police source said.

The arrests were made during Operation Lightning, a large-scale joint offensive by Iraqi and US troops aimed at hunting down insurgents in Baghdad and surrounding areas and halting a spate of car bomb attacks.

Iraqi authorities say they have now made more than 1,000 arrests in connection with the operation.

The US military also announced the arrest of �two suspected terrorists� in northwest Baghdad on Tuesday in possession of video tapes showing roadside bombs being planted.

As US troops approached a suspicious vehicle, �one of the suspects dropped a video camera�, a statement quoted intelligence Captain Ted Scott as saying.

�Inside the vehicle they found wire, blasting caps, crimping tools, electrical appliance parts, bomb making material and a video camera with tapes. The tapes showed terrorists planting roadside bombs.

Upon questioning one of the suspects �admitted he was paid 100 dollars per planted bomb. The other confessed to being paid to film bombing attacks,� the statement said.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June95.xml§ion=focusoniraq&col=

-- June 17, 2005 10:50 AM ∞

mark wrote:

Allen, you may have read this in a million posts, at one time the new currency was as cheap as the dinar, people baught it it grew in value almost over night and Americans made money. I never said it grew into millions and millions, I never said it was worth .50 cents on the dollar.
Michael, glad to have you on board in the BEATIFUL city of Balad, been in a bunker lately? Take care and be safe Hodgie is always watching!

-- June 17, 2005 11:03 AM ∞

Michael wrote:

Bunker?? I walk by them all the time. I used to sprint to a bunker every time someone slammed a door around here. Now if it doesn't hit close enough to make me dive on the floor I usually ignore it. At one point I was looking up in the air everytime I walked outside in hopes that somehow I may see that deadly mortar coming. Nowdays......I just don't think about it much.....complacency kills I know.....but life goes on right? :) It is hot though isnt it? LOL

-- June 17, 2005 2:05 PM ∞

Sara Madgid wrote:

Japan PM tells Iraq that US can be a friend after war
(AFP)
17 June 2005

TOKYO - Japanese Prime Minister Junichiro Koizumi on Friday urged Iraq to build a democratic framework, saying Tokyo�s experience showed that bitter war with the United States can change into friendship.

Iraqi parliamentary speaker Hajem al-Hassani, on his first foreign trip since the historic January 30 election, met with Koizumi ahead of a seminar in Tokyo on the drafting of Iraq�s constitution.

�The US was once an enemy but now we�re close allies,� Koizumi told Hassani, as quoted by a Japanese official.

�With this in mind, I hope Iraq will sweep out terrorism and build a democratic and stable nation,� Koizumi said.

The closed-door constitutional seminar, which lasts until Wednesday, is being funded by Japan and includes experts from Islamic nations in Asia and instruction on the lessons learned by Japan.

After World War II, the United States imposed a constitution in which Japan forever renounced the use or even threat of force.

Koizumi hopes to revise the constitution and has dispatched some 600 troops to Iraq on Japan�s first deployment to a country at war since 1945.

�It�s a lesson Iraq can learn from Japan in rebuilding the country after war,� Hassani told reporters after his meeting with Koizumi.

�Japan is playing a leading role in supporting Iraq. The purpose of the visit is to show our appreciation for all the help and support we are getting,� he said.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June92.xml§ion=focusoniraq&col=

-- June 17, 2005 3:36 PM ∞

allen wrote:

Mark said;
Allen, you may have read this in a million posts, at one time the new currency was as cheap as the dinar, people baught it it grew in value almost over night and Americans made money. I never said it grew into millions and millions, I never said it was worth .50 cents on the dollar

read my post-
http://truckandbarter.com/mt/archives/000502.html#11996
'at one time' you are correct the afghani was cheaper than the dinar
1 dollar bought you 4'726 old afghani's vs 1 USD buying 1'465 Dinar
but the thing is : it was revalued
no one makes money(no americans made money) when a currency is revalued and reissued
understand this process

allen

-- June 17, 2005 11:15 PM ∞

BOB wrote:

Ron:

You are a good man, I have read your posts and normally I totally agree, but to say that we must fight the battle in Iraq or the streets of Chicago is rheoric that will scare the hell out of most people, but has no substance.

I am a conservative and usually back Mr. Bush in everything that does, but he took us into Iraq for the wrong reasons. Normally conservatives back Mr. Bush in mass, regardless of the issue but this is too grave an issue to give my support when I do not believe it. Iraq has serious problems but what right do we have to go into a foreign country and impose our will upon them, even though we mean to help them. How would we feel If France invaded the U.S. because they thought Blacks were being oppressed. How would we feel if Italy invaded the U.S. because we had weapons of mass destruction.

Our policy needs to be that you can have anthing that you want, but if you use we will level your country.

I know this kind of talk is considered off the scale but I am an old timer that remembers how we dealt with problems in the past..

-- June 18, 2005 12:46 AM ∞

Malikai wrote:

YOU ALL HAVE MISSIDE THE MOST CRUCIAL POINT TO OUR(IRAQI INVESTORS)ADVANTAGE THAT THE, EX DEPUTY SECRECTARY OF DEFENSE AND CLOSE FRIEND TO GEORGE BUSH, PAUL WOLFOWITZ IS NOW THE PRESIDENT OF THE WORLD BANK. HE WILL OBVIOUSLY PLACE THE WORLDWIDE OPENLY TRADED IRQI DINAR RATE TO A HEALTHY NUMBER IN NO TIME!!!!!!!!!!!!!!!

[Editor's Note: The World Bank has nothing to do with setting exchange rates -- Kevin Brancato]

-- June 18, 2005 1:43 AM ∞

James wrote:

I have heard the a couple of times before:
"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

Are their not restrictions on purchasing stocks on the Iraqi Stock Exchange? I also heard that trading rights come with a $6,000UDS payment? Truth or fiction?

Also, If a couple of zeros are added to the Dinar it would then likely be revalued at .08cents, .8cents or 8 cents to the USD. All of which are a long way off from where it might end up if they join the GCC.

Personally I feel like the powers that be will prevent this from being an investment with returns in the thousands of percentage points. With all the speculation likely (including the soros rumors) trillions of dinars have been scooped up. Is that not Googles of dollars that Iraq must have to support (or pay out) the new valuation? Doesnt it just make sense to just spend another 115mill on new bills?

But hey, the US has been adding currency to the world supply at insane multiples for a long time (especially to pay for the debt and war) so maybe the Iraqi Dinar can handle some dilution early on before the GCC.
Cheers,
James

-- June 18, 2005 4:29 AM ∞

leo32 wrote:

"I believe that if the anti-war lobby (including the news media) have their way and make America leave Iraq, the war will come back with our troops onto American soil. The daily bombings and deaths of American civilians would be enormous. Fighting in Iraq gives us some time to prepare. Every American serviceman who dies over there saves thousands of Americans who would otherwise be dying in suicide attacks over here - men, women and children. Their sacrifice over there isn't senseless or for oil... it protects us. Those advocating leaving are advocating war on OUR SOIL.. is that really what the American people want?
Sara."

Sara,
Fools don't have horns on their heads. You recognize them by their ignorance and stubbornness.

-- June 18, 2005 4:40 AM ∞

Sara Madgid wrote:

We're fighting in Iraq, so we don't have the killing happening here, says President Bush...
Can the American people hear that, or do they want the troops and the killing back at home?
The push to bring the troops home now is ludicrous, even suicidal.
With "ruthless enemies that relish the killing of innocent men, women, and children", how much chance would our peaceful society have against their suicide bombing attacks? Look at your own home town.. picture it, it wouldn't be pretty.
Are the American people really so foolish as to follow these peaceniks calling for withdrawl of the troops like lemmings or lambs to the slaughter?
Sara.
---
Bush says US is in Iraq because of attacks on US
(AFP)
18 June 2005

WASHINGTON - The United States is at war in Iraq because of the September 11, 2001 attacks, US President George W. Bush said on Saturday.

�We went to war because we were attacked, and we are at war today because there are still people out there who want to harm our country and hurt our citizens,� Bush said in his weekly radio address.

�Some may disagree with my decision to remove Saddam Hussein from power, but all of us can agree that the world�s terrorists have now made Iraq a central front in the war on terror,� he went on.

�These foreign terrorists violently oppose the rise of a free and democratic Iraq, because they know that when we replace despair and hatred with liberty and hope, they lose their recruiting grounds for terror,� he argued.

�Our troops are fighting these terrorists in Iraq so you will not have to face them here at home.�

�This mission isn�t easy, and it will not be accomplished overnight. We�re fighting a ruthless enemy that relishes the killing of innocent men, women, and children. By making their stand in Iraq, the terrorists have made Iraq a vital test for the future security of our country and the free world. We will settle for nothing less than victory.�

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June104.xml§ion=focusoniraq&col=

-- June 18, 2005 9:38 AM ∞

ejamm wrote:

Yahoo currency converter shows Iraqi Dinar as "N/A"...that can't be all that good :(

-- June 18, 2005 11:09 AM ∞

Sara Madgid wrote:

Conspiracy Theories??

I digress for a minute in order to address Bob's post because the entire investment we hold is based on our going into Iraq and HELPING the Iraqi people and PROTECTING our nation from threats which seemed credible at the time, so this has relevance to our investment and to whether the issue will be blessed by the Powers That Be...

Bob;

You said:
"Our policy needs to be that you can have anthing that you want, but if you use we will level your country."

So you would wait until they coordinated WMD or nuclear attacks against our cities before taking any action? Wasn't there a vote taken in Congress before the beginning of this, and didn't they find it credible that these threats were real?
I do think the concern was for the security of our country when we went into Iraq, and to help the Iraqi people. To judge otherwise is to feed into conspiracy theories.
Did you know that the same people believing this country went to war under false pretenses are now saying that the US orchestrated 9-11 ourselves?
Two articles:

'Historian' claims 9-11 plot by Vatican, U.S.
Egyptian tells Saudi TV of 'assignment' by World Council of Churches

An Egyptian historian claimed on Saudi television that the United States helped carry out a Vatican plot to destroy Islam by orchestrating the 9-11 attacks -- on "assignment" by the World Council of Churches. http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=44711

Bush economist doubts 9-11 story
Ex-Labor Dept. hand says towers brought down by explosive

A former Bush team member during his first administration is now voicing serious doubts about the collapse of the World Trade Center on Sept. 11, 2001.

Morgan Reynolds, former chief economist for the Department of Labor during President George W. Bush's first term, says the official story about the collapse of the Twin Towers is "bogus" and that it is more likely that a controlled demolition destroyed them and adjacent Building No. 7.
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=44787

Will you believe these people over the past, rational judgements of our politicians?
Which ones have more credibility?

Sara.

-- June 18, 2005 12:21 PM ∞

Sara Madgid wrote:

One more digression to Bob, please...

Bob;

You also said:
"How would we feel if Italy invaded the U.S. because we had weapons of mass destruction."

Well, it depends on the Italians credible view of the US leadership and its character and their view of the probability of the US using those weapons against Italy. Did the US use WMD against any of their own people in the past (like Saddam did the Kurds), was their President taking women to his pleasure palaces and raping them? Did the President take potshots at the people from his balcony for fun? Did he torture victims for pleasure, and kill people without due process of law (see mass graves sites). How did he treat rivals from other political parties or generals who might be opposed to his views? And, would Italy feel directly threatened, say, if US patriots had come over and bombed the leaning tower of Pisa into a pile of rubble? And if the patriots in America jumped up and down in exuberance at the deaths of thousands of Italians and vowed they would like to give them more if only the opportunity were given to them.. If this was the case, maybe the Italian government would have a credible case for being worried about the US using WMD against it, and a credible case that those in power in the US might just have the degree of insanity necessary to carry out such a threat. As I remember, there was a UN resolution that passed at the time the US was mulling going into Iraq which universally condemed Iraq in the strongest of terms and appeared to give credence to the view that intervention was warranted. Of course, the nations which were not about to be attacked and were under no direct threat wished to continue dialog, after all, they were not in danger of dying by the millions in the streets, but some of the leadership who were directly involved felt more was needed in the interests of their country and the security of their people's lives. A certain ANTHRAX scare also gave rise to more public concern at that time. You ask how we would feel if we had a similar circumstance in our nation as Iraq did in theirs? I think we would be toppling images of our dictator and celebrating our freedom from oppression as the Iraqi people did when the US troops came to town.

Sara.

-- June 18, 2005 12:56 PM ∞

Sara Madgid wrote:

As for President Bush being a liar, as some assert, I might as well deal with that while we are at it by referring you to this previous post and my (previously unposted) reply:
---
Post by MAIR:
Well, who inculcated this false and stupid stuff in your brain?? My dear friend, there is only one God, who created everything, including satan. Conmen misguide people, be it GWB, Saddam, Sharon, Mubarak and so on..It is you who must use his / her brain to see what is right and who is telling lies. You guys persistently believe liars like Bush, Blair, Cheney, Rice, Rummy???It is proven beyond any doubt that tey are liars, still you believe conmen and view others according to their lenses??

Wake up, guys. Use the precious gift that God encased in your skulls.

Comment by mair...
----
MY REPLY:

Mair;

About your saying our politicians are all conmen and liars and untrustworthy.

I was reading an Arabic columnist who had some good points such as this one:

"This insurgency�s strategy is to have no strategy at all. Unlike other resistance movements, it has made no effort to win the people�s support by winning �hearts and minds.� Instead, it has killed them indiscriminately, in their market places, their homes and their mosques. It shows no interest in gaining legitimacy in the eyes of the international community, including the Arab world. It has fielded no recognizable political program for a future Iraq, no well-defined ideology, no popular leader, no articulated cause, and no unified goal. If the insurgents� objective is to drive the coalition forces out and then get to rule Iraq, they surely are going about it in a destructive manner. "
http://www.arabnews.com/?page=7§ion=0&article=65067&d=8&m=6&y=2005

But this same person concurs with your views about American politicians, saying they obscure truth:

"Call me a naive old-fogy if you will, but even if exposure of the truth has unpleasant consequences in some cases, without it we are doomed to a world where hypocrites rule and where the end justifies the means, however ugly and brutal the means employed might be. (We should instead).. work on exposing documented wrongs, surely the best diffuser of spiraling anti-American sentiment?"
http://www.arabnews.com/?page=7§ion=0&article=65014&d=7&m=6&y=2005

What this person does not seem to understand is that all countries have what we call "state secrets". Every morning, President Bush has an intelligence briefing, and, amazingly, the press is not invited. But we the people understand that because some degree of secrecy and lack of transparency is necessary so that our enemies do not know sensitive information they can use against us. Our politicians safeguard us in this way. We swear them to allegiance to our values (the Constitution) and then trust them (to a large degree) to keep us and our nation safe. They are our watchmen.

I am not sure which nation you reside in Mair, but whatever nation it is, you can be sure they have secrets they protect, too. Exposing ALL truths, complete transparency in all areas of the government, is not wise for any country. I think if the classified information, the mistakes and misuse of authority in ANY nation were brought out it would outrage some people. In our case, if what they are doing is covering a mistake and not protecting us from further threats which are classified, it is not hypocritical, ugly or brutal to protect your own nation from the overreaction of radical Islamic Jihadists, such as the terrorists this writer admits are indiscriminate killers without logic or reason (url and quote above).

I would like you to name one nation which never makes any mistakes within it (there isn't one); or name one nation who will openly admit, transparently admit, all its secrets including all its mistakes or misuse of authority that have been or are going on in them. You won't find one. There is no utopic transparency in the world, NO government without its sensitive areas to protect. Arguably, the US, being a superpower, probably has more than other countries. More responsibility, more secrets (and - God forbid - a few errors, too).

Is the President deceiving us by not telling us all the classified information he knows and being transparent about what he read this morning in his intelligence briefing? We don't think so. Are they all conmen and liars because not every part of the intelligence President Bush had and knew when he thought it best to go to war is declassified and available to the public to view at this time? I don't think Americans think so. I think most would agree that the moral imperative to protect American lives from loss is greater than the need for transparency in the press (otherwise, why don't we publish the troop movements daily, too?).

When I read an article saying:
"Rep. John Conyers and other Democrats on the House Judiciary Committee organized the forum to investigate implications in a British document known as the "Downing Street memo." The memo says the Bush administration believed that war was inevitable and was determined to use intelligence about weapons of mass destruction to justify the ouster of Saddam."

I wonder as I read that statement what classified information the Bush administraton knew that led them to believe that war was INEVITABLE. I wonder how come they used the WMD to justify the ouster of Saddam.. were the WMD THE convincing factor or what else was a factor that went into that view that it was inevitable which they could not disclose to the public? Blind though our trust may be to some, I believe the Bush administration made the best judgement call they could on the publicly known (and classified) information they had at that time and DID go to war as a last resort. I also believe in keeping with President Bush's vows to uphold the Constitution against any enemies foreign OR DOMESTIC, that the Democrats have an uphill battle trying to pry open his lips and find out what went into that conviction when it might cost American lives or compromise our national security. You have to trust somebody, sometime with that much power, and we did so in an election, folks.

We all know Jihadists (who are the main group of people we are trying to deny this information to) kill people without fully exposing their work, that is why we saw the mass graves of Saddam and why there are dead bodies we keep digging up and finding dumped in Iraq.. real transparent, those folks. We allow our politicians some leeway in what they know and the degree of trust we place in them concerning state secrets because we have no other choice to safeguard our vulnerabilities to our enemies. As for those who accuse us of covering up and lying from wicked motives...

Those in glass houses should not be throwing stones.

Sara.

-- June 18, 2005 2:51 PM ∞

Lila wrote:

Bob,

You said," Iraq has serious problems but what right do we have to go into a foreign country and impose our will upon them, even though we mean to help them.

I was listening to Rush Limbaugh at least six months ago and a man from Ireland called. He was singing America's praises for Bush's efforts to bring a democratic policy into Iraq. He said," Where would we (Ireland) be or France if it were'nt for the American soldier". He named a few other countries, too. But,look at Japan in the previous post where Prime Minister Junichiro is urging Iraq to work with us. That speaks well of our nation and they have profitted by our aliance. We not only have a right to bring democracy to a terrist nation we have an obligation as a Christian nation to do what we can to help those who are being oppressed. I think it would be cowardly not to.

-- June 18, 2005 4:34 PM ∞

outlaw in Iraq wrote:

DID SOMEONE SAY CONSPIRACY THEORY???

I belive that we have in our possession...millions of documents that proves without a doubt... that GWB and all of his cronies overstated Saddam's weapons of mass distruction program... just so the free world could invade Iraq and make all of us speculators rich! :) (hehe)

Outlaw in Iraq

-- June 18, 2005 5:33 PM ∞

Sara Madgid wrote:

Outlaw;

You said:
"GWB and all of his cronies overstated Saddam's weapons of mass distruction program... just so the free world could invade Iraq and make all of us speculators rich!"

The first part may be possibly true.... the documents may prove that the WMD were overstated. I don't know because I haven't seen all the evidence firsthand. Even Michael Jackson was allowed a day in court which most are not giving GWB... and a jury aquitted him. Maybe there is a lesson there??

The real reason may be classified, but some will scoff to think that any reason is not easily within their purview (scope of knowledge) and mental grasp as armchair military strategists. Everyone thinks they are smarter than those who are holding the actual power in the situation, don't they? (Interesting that Scripture that "Pride goes before a fall".)

As for the serious REASON we invaded, which you say is, "just so the free world could invade Iraq and make all of us speculators rich!".... that is probably NOT the reason.. even if it ends up a side effect (along with oil imports to the US) of what was done. :)

Sara.

PS The day shall come..
Rom 2:16 ... when God shall judge the secrets of men...

Then all things, all secrets, will be laid bare and judged fully. I suggest we "judge not lest you be judged" until then. I don't think it very productive of our time to be rethinking our decisions when we are at war. It will not take the country forward but only put our forces and our own lives at risk if we move backwards by withdrawing. It would just bring the war back here from there. I think in that Day of Judgement we will be vindicated for thinking we picked a trustworthy man for the job when this country went to the polls.

Sara.

-- June 18, 2005 8:42 PM ∞

Sara Madgid wrote:

Outlaw;

On the lighter side.. it was a cute joke. :)

Here's one, tongue in cheek...

"I don't understand all those news reports about going to the Port Authority when there's an Islamic terrorist threat. Those people don't even drink alcohol."

Sara

-- June 18, 2005 8:48 PM ∞

chromeman wrote:

We all know Jihadists (who are the main group of people we are trying to deny this information to) kill people without fully exposing their work, that is why we saw the mass graves of Saddam and why there are dead bodies we keep digging up and finding dumped in Iraq.. real transparent, those folks. We allow our politicians some leeway in what they know and the degree of trust we place in them concerning state secrets because we have no other choice to safeguard our vulnerabilities to our enemies. As for those who accuse us of covering up and lying from wicked motives...

Those in glass houses should not be throwing stones.

Sara.
================================================
The above posted June 18, 2005 02:51��Last paragraph of post.

Without this great American and others like her, with the strength of knowledge and the skill of presentation, we the people of this great land, could be easily overrun by the adversity of thinkers like �Outlaw and mair�.

Thank you Sara for a great post. Your post are to the point and as always correct and well justified.

Chromeman

-- June 18, 2005 9:43 PM ∞

BOB wrote:

BOB-CHARTER MEMBER

Sara: I totally respect your opinion and narrative on why we are in Iraq, but you will have to admit that we stirred up a hornets nest in Iraq and brought terrorists and insurgents from several countries to Iraq to pursue their beliefs.

I did not see Iraq as a threat to the U.S.. I do see China, North Korea and Russia as a threat. If we went into Iraq to prevent a recurrence of 9/11, then we went to the wrong place. Iraq did not pose this threat.

I am for totally securing this country, but I would like to do it in a sensible, affirmative way, not to take a draconian action against a country that seemingly had nothing to do with 9/11. Saudia Arabia had much more involvement in 9/11 than Iraq.

We get caught up in rhetoric and BS and sometimes forget who the enemy really is. Iraq had many problems with Saddam in command but I cannot connect it to 9/11.

-- June 19, 2005 12:13 AM ∞

Sara Madgid wrote:

I appreciate your kind assessment and sentiment, Chromeman, whether shared by many or by few.
Thanks, :)

Sara.

-- June 19, 2005 1:40 AM ∞

Leo32 wrote:

This forum seems to be full of religious missionaries and blind supporters of GWB.

Guys, discuss the future Iraqi currency, for which this slot has been created.

Bye bye

-- June 19, 2005 7:05 AM ∞

Ian wrote:

Lance works in Iraq..

"Dinar will peg at .42 in July to show confidence" source asked me not to post until he could go back and have dinner with the people he got his information from. They agreed it was time to say something. Man you gotta love those guys with a license to fly, they rub elbows with all the right people. Thanks Lance

To stay on track with the Iraq Currency go to investorsiraq.com

-- June 19, 2005 12:29 PM ∞

Sara Madgid wrote:

Connecting the Dots..

Bob;

You said:

"Iraq had many problems with Saddam in command but I cannot connect it to 9/11."

Let me connect the dots for you as I see them. To connect the dots I will give you a fictitious dialog of the kind of reasoning I think likely to have been involved concerning Iraq and 9-11 by the Powers That Be. Here is a fictitious conversation I have created between President George W. Bush and his Military and Intelligence advisers, post 9-11 (all resemblance to persons living and dead is purely coincidental). Most of the facts in the dialog are very well known, published facts.
Sara.
---
President George W Bush (GWB): Gentlemen, I asked you to research me some answers about who attacked the US and why. ___, your assessment first.

Military Intelligence Adviser (MIA): I know the intelligence bulletin we submit to you daily includes many threats - China's global ambitions to be a superpower, North Korea's alliance with China and its nuclear arsenal and hatred of our country, Russia's ambiguous position of semi-enemy, semi-friend, and the Israeli conflict, just for starters, sir. What we believe we see here is a warning to us, a change in tactics, of certain extremist groups who believe in Jihad. Jihad is a belief in holy war to accomplish global domination. These Jihadists want to take over the globe as China does, sir, but for their religious beliefs, their god Allah. They view us as "The Christian West" and "The Great Satan" and believe that we are all infidels.

GWB: What about those who don't believe in Allah over here. How can they call us "The Christian West" when many are not of that religious view in our country?

MIA: They tend to oversimplify, stereotype and label groups of people, sir. I would not put it past them to capture innocent people, Americans and others who have no religious affiliation, call them "infidels" and behead them publicly. They could justify the killing of innocents according to their religious beliefs, sir. Anyone not of their particular brand of faith is an infidel. They even kill other Islamics who do not see eye to eye with them on certain doctrinal positions.

GWB: I see..

MIA: Those who were in the planes who blew up the WTC were mainly from Saudi Arabia and believed in this Islamic Extremist Jihad ideology. They were trained in terrorist camps in the Middle East and sent with a well thought out and coordinated goal in mind, they had a plan. It wasn't a random act. We believe the next step is to bring about the embroiling of America in a war on American soil. The Jihadists behind 9-11 feel America has not listened to their concerns in the Middle East and that attacking us will make us do what they want. Beyond that, many of them wish our complete destruction on religious grounds.

GWB: Have they any chance of accomplishing this goal? How big a threat do they pose to our Homeland?

MIA: Our concern is that these people are willing to die for what they believe in, and, if they do get nuclear bombs or WMD, we could see an attack on our soil which would take the lives of millions. They aren't one COUNTRY as such, but an alliance of people from many countries with the same ideals. As you know, present nuclear technology enables a nuclear bomb to be transported in something the size of a suitcase. We believe they could take some committed Jihadists with nuclear or dirty bomb suitcase bombs into our major cities and detonate them in a coordinated fashion. Our intelligence says that such plans are in place, and there are over thirty targets, with the largest bombs being reserved for Miami, Jacksonville, Washington, Halifax, Montreal, Ottawa, Toronto and Quebec. The purpose would be to destroy any capability of moving against them from a North American base, all government. Other bombs would take out Thunder Bay, Hearst, Montpelier, Trenton, Philadelphia, Wilmington, Pittsburg, Gettysburg, Richmond, Charleston, Dayton, Raleigh, Atlanta, Columbia, Tallahasse, and Fort Pierce. It would cripple the military in North America, sir.

GWB: I want a provisional government in place in case they do any damage to the governing ability of the US. Best to have a back up plan. Do it quietly, we don't want any mass panic over a backup measure. I also want a special Homeland Security office set up and we'll coordinate our strategy through it.

MIA: Yes, sir. (Makes notes in notebook) We do have suggestions as to how to keep our Homeland safe. (President Bush nods encouragement.) We have been watching the development of WMD and nuclear power in the Middle East. Of those who are opposed to us, Iran and Iraq are closest to it. We don't suggest going after Iran yet, sir. However, Iraq is trying to develop both WMD and nuclear capability. They have been hampered by UN inspections, of course, but our intelligence says they are in quite advanced stages and may be capable in the near future unless we do something about it.

GWB: Do they have the will to use them against us if they develop them?

MIA: Yes, sir, they do. Saddam may not be a religious man, but he has the same hatred and goal the Jihadists do and would join with them if he felt it would help harm us. The Jihadists would not care if the bombs they wanted to use against us came from Saddam or the tooth fairy, so long as it fulfills their goals, so there is a likely alliance there. The real threat is the Jihadists, but Saddam would be the supplier to them, that is what makes him our number one threat. (Turning on the overhead projector.) Here, on this time lapse photography from satellite you see a suspected nuclear development facility in Iraq when a UN inspector is due within a few days. Note the large trucks taking things away from the site, particularily on the infrared shots at night. (A ripple of conversation goes around the room. The lights are turned back on.) From what we can see, there is every reason to believe they are close to getting nuclear bomb capable as well as WMD capable, and the Jihadists have the wherewithall to use either against us, as 9-11 showed. Certain scientists have also told us that, in case of invasion they will bury the bomb making material and it would be next to impossible to prove they were as far along as they truly are.

GWB: I wouldn't be very popular in that case. (A ripple of laughter goes around the room.)

MIA: No, sir, you wouldn't. But we do hope we could find the material. If we didn't, perhaps it would lull the public into a sense of security to think the threat is not that great. That could be an advantage to us, and avoid mass panic. We don't want more Branch Dividians arming themselves against the Jihadists and the backlash against the Islamic community could be very painful. We are trying to avoid racism and extreme forms of militaristic survivialism from growing up in the US. Those could cause us a lot of headaches when we wish our minds and resources to be focused on getting the job done in Iraq.
What we are proposing, sir, is going into Iraq and taking out Saddam. We need to neutralize the threat to our nation his WMD and nuclear ambitions pose, and we can liberate the Iraqi people, which, as you know, have been subject to a great deal of human rights abuses. We have asked other Middle Eastern countries, and they are ready to allow us to go in. A democratic Iraq could be a good thing for them and boost their economies, strengthening the region and giving much back to the other peoples of the Middle East. Saddam has few friends in the region.

GWB: What is the danger if I do nothing and just let the next President deal with this?

MIA: President Clinton did just that, sir. We don't suggest it. Someone has to act to protect the nation from this threat. If you take the dove view and won't back a military solution, we believe that these terrorist training camps will continue to turn out fighters who will be trained to attack the West. We will one day wake up to a full scale nuclear or WMD disaster on American soil, just as sudden and destructive as 9-11 proved to be. Our ports and airports are insecure at this point, we need to act to try and stop terrorists from coming into the country, but we need more than that, we need to engage them BEFORE they become nuclear or WMD capable. If we fight a more conventional war in Iraq, we can deal with the threat now before it comes to our homeland. The price of inaction could be devastation of our country. As you said, 9-11 proves we are at war. To back away from that is to bequeath a legacy of death to the next generation. Inaction now means that history would judge us cowards.

GWB: I see. I want safeguards put in to the airports and ports. Make the coast guard more effective in case they try to come through that way. Coordinate with Canada and Mexico on border entry. I want other suggestions and will appoint a head of Homeland Security once I explain the need to Congress. Hopefully we can deal with the threat off our soil, but I want the best we can do being done at home. I want technological development on innovative solutions, and I want them phased in quickly. I will have to create some kind of Patriot Act for us to do this. I know some will see it as encroaching on freedoms and we will try and allow as much freedom to the law abiding while protecting their lives as we can. ___, I want you to develop the information into a dossier I can present to our partners which shows the degree of threat of WMD and nuclear bombs. I'm seriously considering going in now, while the threats are at a managable level, before they become nuclear capable. War is inevitable, the Jihadists are not going away and they are sworn against us for war. It appears best to go in now rather than wait for them to be fully nuclear and WMD capable in a few years, perhaps with devastating effect as 9-11 was. Can we prove they are CLOSE to being capable? (MIA nods.) Good, that should be enough. Gentleman, do pray that I make the right decision for the nation this evening in your prayers. It seems the right thing to do for the security of our nation, but I will make it a matter of grave consideration and prayer before I launch a war on Iraq to protect our homeland. Thank you gentlemen.
(end of meeting.)
-----
Bob - does that help connect the dots?
Sara.

-- June 19, 2005 1:28 PM ∞

Sara Madgid wrote:

Bob;
Can you see the Jihadist mentality now of victory for Allah in this news article (saying we will only accept Allah (God) and His law)? And President Bush's saying it is VITAL to the US security?
Sara.
---
Al Qaeda says Bush doomed to failure in Iraq: website
(Reuters)
19 June 2005

DUBAI - Iraq�s Al Qaeda group said on Sunday, US forces were doomed to failure in the country, after President George W. Bush called the conflict a vital test for American security, according to an Internet statement.

�What test of a defeated army are you talking about? You have failed the test and tasted disaster in Iraq,� the group led by Jordanian Abu Musab Al Zarqawi said. �Who promised you victory, you loser?

�You and the Christians are destined for defeat, as you see every day and everywhere in Iraq,� it said in a statement posted on a Web site used by Islamists.

Bush on Saturday rejected calls for a withdrawal of US troops from Iraq and tried to counter growing impatience with the war by calling it a �vital test� for American security.

�This lying devil spoke the truth when he said we are the enemies of any rule other than of God and we will only accept His law,� said Al Qaeda Organisation for Holy War in Iraq.

�We are the ones who are free, not you Westerners. We are free in our worship of God and in implementing His laws while you are slaves of earthly concerns, falsehoods and the devil.�

Coming under renewed attack for his rationale for invading Iraq in March 2003, Bush described the conflict as part of the broader US �war on terrorism�. He said stabilising Iraq and quelling the insurgency were important for American interests.

Washington cites Zarqawi, who Al Qaeda leader Osama bin Laden has declared as his deputy in Iraq, as evidence of a link between Saddam Hussein�s ousted government and Al Qaeda.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June116.xml§ion=focusoniraq

-- June 19, 2005 1:33 PM ∞

Sara Madgid wrote:

Leo;

The future of the Iraqi currency is greatly influenced by political factors and religion. Unfortunately, the insurgents are exclusively religiously motivated. Addressing WHY we are there (and should stay there) as well as stabilizing Iraq's political situation are vital to our economic interests in the Dinar and necessarily involve some discussion of the religious issues involved. These topics may also prove vital to our lives and the lives of those you care about.

Sara.

-- June 19, 2005 1:41 PM ∞

Sara Madgid wrote:

Bob;
You said:
"Saudia Arabia had much more involvement in 9/11 than Iraq."

That is not true of the Saudi Arabian GOVERNMENT. They were not the ones attacking the US. Indeed Saudi Arabia has been on the forefront of rounding up insurgents and said:

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

Also another article called, "Saudi Arabia's struggle against terrorism" it says:

"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."

"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."

http://truckandbarter.com/mt/archives/000502.html#9753

We would not have been doing right to go into Saudi Arabia to get those who were responsible for 9-11 or those who pose the threat from this event.

Sara.

-- June 19, 2005 1:56 PM ∞

outlaw in Iraq wrote:

People...People...People...It was a joke.... The "millions of documents" I was referring to was "our Dinar"! How can one be such a great thinker when inflicted with such a massive case of "headupassitous"?

Outlaw in Iraq.

-- June 19, 2005 6:41 PM ∞

Sara Madgid wrote:

Outlaw;

I knew it was a joke, friend. I just also felt Chromeman's comments were so kind that I had to thank him for them. :)

And, although you didn't mean it.. there are many who are saying exactly what you said in your post, namely, that "GWB and all of his cronies overstated Saddam's weapons of mass distruction program".. so I thought I would address the issue as it seems quite serious.

Personally, I think the Democrats are very sore about how much political power they lost, so much so that they have to foment some disturbance to try and eek out an existence as an alternative party. They look so washed up and lame that they are withdrawing their support in a pout, acting like spoilt children, trying to obstruct GWB's agenda.. trying to call into question anything at all that might strike a responsive chord in the public.. all to the detriment of the people they are supposedly serving. Trumping up charges for their own political agenda is hardly conducive to protecting our interests as a nation.

As the comedian John Stewart said:
"But we turn now to ... the Democrats, a political party founded in 1792 that enjoyed an active role in American politics through much of the 20th century. Perhaps you've heard of them, no? Ask your parents." --Jon Stewart

You just wish they might have the decency and leadership ability to put aside their political agenda for once and try and do what the people need, and what is in the best interests of the country.. at least as long as we are at war.

Sara.

-- June 19, 2005 7:48 PM ∞

Michael wrote:

Who do you guys want in the White House??
Gore??
Kerry??
Quail??

I wish GWB could have another 4 years after this run. As far as IRAQ having nothing to do with 9-11....I see all these Insurgents coming from many countries not only IRAQ. I say good, lets get them all grouped up in one spot and whip the hell out of them. Where would you like that spot to be?? IRAQ or Indiana??

I am not the smartest guy on the planet....I may not even be the smartest guy in the room, but I do know that this was a good thing for us all; IRAQ, US, etc etc. We will all benefit in many ways in the future. Don't get so hung up on the small stuff Bob. :)

-- June 19, 2005 8:21 PM ∞

Carl on Wilson Lake wrote:

HISTORY IS A GREAT TEACHER PART ONE
I am doing this in sections,because it would be way too long for one reading.
If you pay attention to human nature, you start to understand why things are as they are in Irag, and within our own political system.
None of what is happening should come as a surprise to you, in fact it is totally the opposite. What is on going, is nothing but predictable human behavior, history has taught us that over and over.
As in any conflict, you have what is referred to as a "honeymoon period". There are some things that make the begining easier.

The psychological attitude, The resources are fully stocked and well supplied, enthusiam is high and your force is convinced that success is certain.

During the initial phase you encounter fewer problems from the opposing side, because you have not appeared on their radar screen. Now I didn't say our forces would not have obstacles, but our generals would not have started their advance, unless they knew any problems could be overcome.
When it starts, our people have tremendous energy and adrenalin flowing. Our forces have fresh perspectives on the new front. At the initial jump off, we have made very few mistakes that has costed us resources. Our strength is at a maximum.
Plus, our initial progress hasn't yet created any major resistance. As we move into the opposing forces territory, they know you are there, but it has not really registered with them that,"YOU ARE THERE".
It takes time for opponents to recognize the challenge. Initally there is confusion with the opposing forces, which gives our forces even a greater advantage for short period of time.
But in a relative short period of time, the opposing force leaders start to forumlate plans to respond to your presence. This why it makes the inital advance into the opposing forces area easier. The hard part is about to come.

If you remember, our forces struck fast, and advanced at a speed that no one really expected. How did we do that? By simply not confronting the opposing forces, but going around them, and going after the flag bearer, "Baghdad". The train of thought is flush the leaders or generals, and the opposing forces, you bypassed will collapse upon themselves due to lack of leadership.
It happen just as our general expected. Once Baghdad fell, the opposing soldiers, put down their weapons, discarded uniforms and fled.
We achieved what we wanted to do, win the battle without significant conflict....get to the goal as fast as you can, and be the first there with the most fighting power. But there is a weakness with this strategy. Once you are there, you can not control it as you need to. Due to our forces lightening strike the logistics of not having enough equipment or men to create a secure zone around the captured area can not be achieved.
Therefore, "WE DO NOT GET LONG TERM BENEFIT FROM THE STRATEGY". The end result is things start to come apart.
Putting more men and equipment into the area does not work, as the other side who is now forming plans and excuting them are starting to put more men and equipment into the area also.
Example: The insurgency, at first was weak and struck not as frequent, as they are now doing. When it begin they had only a few fighters, now it is estimated the opposing side has dumped as many as 20,000 fighters from syria,saudi arabia, jordan,iran, etc into Iraq, and more pouring in daily. That is why our forces are now doing their second major operation along the Syrian border trying to stop the flow.
I will stop here and pick up with the second part later this week.

-- June 19, 2005 11:52 PM ∞

Investindinar wrote:

Just a quick question for Sara. Seeing as how you seem to be very informed in terms of what is happening with the NID speculation.......how many people do you estimate have invested/purchased NID?

It seems that if too much NID is in circulation, then there will not be enough wealth in Iraq for the currency to increase in value. Example: if a several thousand people have purchased an average of 10 million NID each, then it would take billions or even trillions of dollars to support a high exchange rate. By 'a high exchange rate' I mean 0.33 to 0.72 (the range quoted on this message board).

-- June 20, 2005 4:01 AM ∞

GEORGEWOOD wrote:

New to this but bought 4 million last week - goal is 10 million . I look at it this way - if the news media is against Iraq and Bush just for political reasons then we have to be headed in the right direction. Think naming Wolfowitz to the World Bank is more than a minor point in this. Now if I could only pry the credit card from my girlfriends hand - I would be going for 20 million.

Peace

"Think education is expensive - try ignorance."

-- June 20, 2005 8:24 AM ∞

Sara Madgid wrote:

Islamic Development Bank to disburse US$500 million for Iraq�s reconstruction
(AP)
20 June 2005

PUTRAJAYA, Malaysia - The Islamic Development Bank said on Monday it expects to disburse US$500 million to finance reconstruction projects in Iraq.

The money, raised through bond issues, will be disbursed from a new fund through grants and soft loans over the next two to three years, said the bank�s president Ahmad Mohammad Ali.

Ali said Iraqi central bank governor Senan Al-Shabebi will travel to Jeddah soon to sign a memorandum of understanding to launch the fund, which will be used to finance projects in the fields of education, health, road and general infrastructure.

The fund is sourced partly from US$500 million in Islamic bonds the bank issued recently, he said. The bond issue - the bank�s second after a US$400 million (�333 million) tranche in July 2003 - has been oversubscribed.

The bank plans another issue to raise US$500 million in the next few months, he said, without giving details.

�Iraq is a big country. The economy is in a very bad shape. The reconstruction of Iraq is one of the important concerns of the IDB. It�s a challenge to the IDB to participate effectively in the reconstruction,� Ali told reporters on the sidelines of an Islamic trade forum here.

The Saudi-based IDB is the financial arm of the Organization of the Islamic Conference. Fifty-five of the OIC�s 57 nations are members.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June124.xml§ion=focusoniraq

-- June 20, 2005 9:50 AM ∞

Sara Madgid wrote:

Investindinar;

You asked:
"how many people do you estimate have invested/purchased NID? It seems that if too much NID is in circulation, then there will not be enough wealth in Iraq for the currency to increase in value."

I once read that only a fraction of the NID are ever going to be available to the public for sale. I believe the CBI has pretty tight controls on the percentage reserve they have of Dinar on hand. Of the total Dinar that were printed, I believe it was 80-90% of the NID was to remain within the country of Iraq. A friend of mine calculated it all out and said that if only 200 thousand people (or was it half a million? you would have to do the calculations, but I thought it a tiny proportion of people in general) bought 5 million Dinars there would be no more to buy. The article said that once that amount was reached, there would BE NO MORE TO BUY. This was a stringent control they insisted on right from the start of this. So, as to how many have NID, less than that number they allowed for sale (up to 20% of the total amount).

An earlier poster said that is how they expect to make their money and not break the bank. If your RESERVE of 80% Dinars is suddenly worth 10 cents on the Dinar, you have a vast reserve of cash. You can then pay out of that reserve to those who are cashing in. Once the initial frenzy is over, you STILL have a lot of cash in the bank, since even if all 20% outstanding Dinar holders cashed in, you would have (80% - 20%) 60% cash reserve worth 10 cents on the dollar. The Bank wins!! The next jump makes them even richer. :) Good for them! And, of course.. good for us. :)

I think the tighter control measures within the country of Iraq are being implemented with one of the goals being that, when it pegs, we don't end up with very wealthy insurgents. OUR banks over here will check everyone cashing it in is not a terrorist. Over there, it is certain that the aim is to prevent terrorists being able to cash large amounts of Dinar in within the country of Iraq. ALL Dinar transactions over a certain number will be tracked and questioned, just like over here. We do not want to be funding the insurgency with Iraqi Dinar money appreciation. That is hardly the point. Setting the country on its feet economically is meant to help the country of Iraq, not fund its enemies.

Sara.

PS
Interesting Carl. :)
I think you smart, Michael.. good points! :)
Good for you, Georgewood. :) Hmmmm...
Georgewood, why not try, "will you marry me" first...
then the line "can I borrow your credit card"?
Women tend to be more lenient when they think they are building
an investment with you rather than helping YOU to get rich (and,
maybe, find someone else???). As Jim Backus said,
"Many a man owes his success to his first wife and his second wife to his success."

Sara.

-- June 20, 2005 10:31 AM ∞

GEORGEWOOD wrote:

Sara,

Good line - unfortunately it is MY credit card I am trying to get back.

What is that line?

"From my cold dead hands" - she is a shopper.

-- June 20, 2005 11:53 AM ∞

itroxell wrote:

The Dinar will be pegged to Iraq's oil.. that makes the most sense..

As far as the currency goes ... I remember a calculation made by one of our members... calculating the total amount (estimated) of oil in Iraq. Reducing that number to barrels of oil (with an estimated dollar per barrel of $40.00).. and the peg came out to be over $2.00 to the Dinar.

However, there is tons of chatter in the Iraq banking sector, for a .42 cent peg in July.

They NEED to get the Dinar on the forex and start making the Dinar internationally tradeable.

When it really comes down to it.. MONEY will rebuild IRAQ.....

I'll do some more research and be back soon..

I suggest getting your affairs in order, getting a bank account with your closest international bank such as HSBC (HSBC.com). The peg will be extremely volatile at the start. So if it opens at .42 you may want to cash out and not look back.

Happy Dinar days ahead.

-- June 20, 2005 11:58 AM ∞

STERLING wrote:

Hey, I'm new to this. I've been searching high and low for info. about when the ID will be traded on open market. I worked for KBR in Iraq as a truck driver and came home with 15 million ID. Needless to say I'm hoping it hits big and soon. One thing I see that no one seems to realize about Iraq is it's agricultural potential. This, in my opinion, is a huge thing based on their geographical location. As everyone knows, it's pretty much desert all round, but the river valley that run thru the heart of Iraq is very fertil, has large quanities of surface water and it big in size. A developed Iraq has the potential to be the bread basket of the entire region, which adds to the notion that Iraq can and will be a viable country. Of course, the oil and natural gas reserves will play the major role in Iraq's financial future but we should not ignore agriculture and it's role in this. I'm proud to have played a very small role in whole thing and hope I get to see a freed people. Let freedom reign!!!!!!!

-- June 20, 2005 12:13 PM ∞

Lila wrote:

Itroxell,

I called HSBC and they said that if I start an account it will automatically convert to USD, so I guess I just keep it in a safety deposit box until it pegs? I probably represent alot of people who bought in on this but don't really know what to do next. Any pointers or websites that make sense to the common man (or woman)? Thanks, Lila

-- June 20, 2005 1:19 PM ∞

RYAN wrote:

I HAVE BEEN READING YOUR POSTS FOR QUITE SOME TIME NOW...
LOVE THE LATEST NEWS ABOUT PEGGING. BUT HOW RELIABLE ARE YOUR SOURCES? I JUST CALLED BOTH HSBC AND WELLSFARGO THEY BOTH SAY THAT THEY HAVE NO INFORMATION ON DINAR TRADING???
I HAVE ON THE OTHER HAND FOUND A BANK HERE IN USA THAT IS CURRENTLY TRADING THEM AS OF ABOUT 3 MONTHS AGO WHEN I SPOKE TO THEM....
COMPASS BANK... NOT ALLOT OF THEM HERE BUT ENOUGH TO TRADE AT...SARA YOU SEEM TO HAVE ALL THE ANSWERS, DO YOU FEEL GOOD ABOUT RETIREING NEXT MONTH?

-- June 20, 2005 2:56 PM ∞

Sara Madgid wrote:

Thank you to itroxell and Ian for the great information on the Soon To Be peg. :)

It is very much appreciated, your keeping us up to date on what you are hearing. Thanks! :)

Sara.

-- June 20, 2005 3:11 PM ∞

Sara Madgid wrote:

EU, US to push for wider debt relief for Iraq
(Reuters)
20 June 2005

BRUSSELS - The United States and Europe will urge Iraq�s remaining creditors to match or better Western government pledges of debt relief at an international conference on Wednesday, EU and US officials said on Monday.

The conference, jointly hosted by the European Union and Washington, will tread carefully around lingering sensitivities over the US-led war, which split Europe in 2003, and is not aiming to produce initiatives to tackle the lethal insurgency in Iraq.

Instead, ministers will focus on political and economic themes -- pressing Baghdad to give minority Sunni Arabs a fair say in drafting a constitution, and encouraging others to follow the Paris Club of creditor nations in slashing Iraqi debt.

�This is the opportunity for Iraq and members of the Paris Club to encourage others to be as generous, or more generous,� an EU official told a briefing, referring to an accord last November to slash 80 percent of the Paris Club debt, worth $38.9 billion.

The Paris Club includes the Group of Seven industrialised countries -- the United States, Japan, Canada, Germany, Britain, France and Italy -- as well as other western European states, Russia and Australia.

But Washington estimates Iraq owes as much as $70 billion, including commercial debt, outside the Paris Club and has been urging those creditors for months to make a contribution.

�Obviously these are issues that have to be settled in bilateral negotiations,� Richard Jones, Iraq advisor to US Secretary of State Condoleezza Rice, said in an interview.

�But if we get indications from countries that they are well-disposed, that is a step forward,� he told Reuters in Brussels, citing Kuwait, Saudi Arabia, Brazil, China, India and eastern European states among those substantial creditors.

Washington went further than the 80 percent relief agreed by the Paris Club by waiving all of the $4 billion Iraq owed it.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June127.xml§ion=focusoniraq

-- June 20, 2005 3:17 PM ∞

Sara Madgid wrote:

Georgewood - What female isn't a shopper? :)

Sterling - YES, Iraq is a potentially very rich nation for its oil AND its export capacity for agricultural goods. :) I think we did mention it in some previous posts, one person saying it has the most delicious dates imaginable.. though the oil was discussed wayyyy more. Thanks for the great reminder. :)

Lila - a safety deposit box is good! As for cashing in, you go to your safety deposit box then to the nearest currency trading Bank.. once the Dinar becomes freely traded. As you can see from RYAN's calls, it is not yet being freely traded. RYAN mentioned the Compass Bank is already doing business in the Iraqi Dinar.. it sounds like a good one to use since they are already up to speed with converting. It'll be easier after the peg to decide as all you will have to do is phone and say, "Do you trade Iraqi Dinar into USD?" There will be some YES answers.. then you go and convert it and ask immediately for the USD to be put into a Bank Draft (to take to your own Bank Account elsewhere) or deposit it in the Bank you just cashed in at.. I think they would be happy to have you as a new customer after cashing in, don't you?

Oh, don't forget to pay Uncle Sam his due (taxes).. then enjoy the rest. :) If they don't require me to pay taxes immediately at the Bank, I am going to phone and find out where to send the cheque and make sure Uncle Sam is happy before I take another step, personally. I am anxious NOT to have Uncle Sam breathing down my neck, but just be able to peacefully relax and enjoy the windfall God has bestowed. :) I think Jesus said it best concerning taxes and the government (Caesar)..

Mar 12:14-17 When they had come, they said to Him, "Teacher, we know that You are true, and care about no one; for You do not regard the person of men, but teach the way of God in truth. Is it lawful to pay taxes to Caesar, or not? Shall we pay, or shall we not pay?" But He, knowing their hypocrisy, said to them, "Why do you test Me? Bring Me a denarius that I may see it." So they brought it. And He said to them, "Whose image and inscription is this?" They said to Him, "Caesar's." And Jesus answered and said to them, "Render to Caesar the things that are Caesar's, and to God the things that are God's. And they marveled at Him. "

"Give to Caesar what is Caesar's and to God what is God's". God gets the thanks, Caesar (the government) gets the taxes.

RYAN - I am confident it will peg SOON, yes. :)

Sara.

-- June 20, 2005 4:09 PM ∞

Aaron wrote:

Can I ask? What are we basing our assumptions on concerning the Dinar Pegging soon? Have any of us spoken to a person in the new government? Or is an assumption based on others posts, articles in the press, speculation?

I am so excited about when the day comes, however do we have anything concrete that says it is soon. I was on another Forum last week and I was reading along. They were talking about the ID peg happening in June. The post was April 2004. They thought it was going to peg in June 2004.

I want to think it is soon like all of us. Can someone please let me know if you have got your info from an insider, or someone who will play a role in the PEG of the Dinar. 50,000,000 Dinar could make my children very happy if it hits soon :)

-- June 20, 2005 6:14 PM ∞

Brandon Keeton wrote:

ATTENTION EVERYONE!
I did some checking on Compass Bank and it seems that they have been the victims of a "Phishing Email" fraud as well as being reported for questionable account practices. Here are the links:

http://www.trendmicro.com/en/security/phishing/overview/phish050502a.htm

http://www.ripoffreport.com/reports/ripoff144218.htm

Just thought you'd like to know! Have a good one.

-- June 20, 2005 7:06 PM ∞

Carl wrote:

HISTORY IS A GREAT TEACHER PART TWO
One of the problems of disputed areas is that the cost of fighting for them sometimes exceeds the benefit.

One of the rules in conflict is make temporary use of the area you have captured. You should avoid if at all possible long drawn out conflicts that drain and weaken your forces, and support over time.

Easy progress in an initial campaign is not the same as victory or success, which is reaching your goals.
One of the mistakes made by our government in the Iraqi conflict was declaring victory, when our forces took Baghdad. This gave the american people the false impression the war had been won, and Iraq was now secure from saddam and his cronies.
They started to thinking our boys will be coming home soon. When soldiers started dying, after our declared victory, left wing papers had a field day.

Our political leaders should have realized it takes human nature time to adjust, but adjust the opposing forces will do. When they do, you start to get into the meat of the battle, as we are experiencing now. The war was never won. We only won the initial begining of the conflict.
Americans should be proud of our men and generals. We took over a nation in the shortest time recorded in modern history. We had less lost of life within our ranks than expected, considering we collapsed a dictatorship.

This is not a typical fight. This is urban fighting. The lines are blurred, the enemy has no uniform, the combatants and victims of the violence are from all ages and nationalities.

Tanks and heavy artillery are useless in most cases.
It takes individual soldiers and small units to respond quickly. It takes intelligence from sources that are reliable. Those sources have to have confidence our forces are going to be their for the long run.(When politicians attempt to get a pull out date, this undermines the confidence that the sources have in our army and our country's commitment to stay until we finish the job.)

The larger the force the slower, and more disadvantaged they are. Our generals are having to adjust to the environment, and are better at fighting the insurgency, than they were 1 year ago, as the tactics have changed.

Trying to make progress in their territory, and in the midst of non-uniform opponents has special challenges.Our soldiers must continually think strategically where our position of advantage is forever changing. There are times our position degrades rapidly, and times when the insurgencies position of advantage falls to our forces. Each side is 24 hours a day, every day, attempting to advance their goals, and nullify the other sides advances. One thing is certain. If the colition forces don't move forward in advantagous positions, they will fall behind rapidly in the fight.

This urban fight is not about fighting over territory. Its about staying ahead and eliminating the opposing force. We are already in the territory. We just don't have a secured position.

Another major conflict rule is enter into a area quickly with the firepower needed to take temporary control. DO NOT ATTEMPT TO CONTROL THE GAINED TERRITORY BY YOURSELF, OVER A LONG PERIOD OF TIME . The inital controlling army must quickly as possible welcome other allies. It is in the initial forces best interest to involve as many allies as possible in controlling the area, and gaining security.
The Primary value of a territory in dispute or conflict is that it brings together people which will become allies.

They do not have to be friends. I believe no one can call France, Germany or Russia a international friend of the USA or UK. But they do have a common international interest, in gaining security in the region, and attempting to get some of the pie for their nation.
Our government has made mistake after mistake, by keeping out the nations, that refused to help in the initial conflict. I understand why we did,and that was my sentiments also. But the time has come when personal feeling have to be set aside for good of the mission and Iraq.

The USA or UK do not have to be afraid of losing influence with the Iraqi government by allowing these countries in to assist in rebuilding Iraq, and achieve their own individual goals. History shows, those who are the first to get into the area of conflict and build the largest alliances are the most successful with the new established leaders.

When a army or country invest heavily in a campaign you must be concern about the use of your resources. All investment is limited.
History shows during the initial campaign it is viewed favorably, but as time passes without it producing the results expected, in a expected amount of time, support starts to fade. It doesn't make any difference if the expectations are realistic or not.
Things considered good ideas once, have now become pariahs if they do not produce payoffs immediately.
Even if the plan, doesn't call for immediate payoff it is still ridiculed. Now the ones who initial supported the campaign have started to become impatient and turn against any further support.
History shows a campaign must produce results, or your political opponents will start sniping at your support.(does this sound familiar?) Now the opponents were there all along, but at the initial start of the campaign, they didn't feel they had the support to start the sniping game. As support starts to fade, the opponents become more confident and secure in their attacks.
The problem is these opponents are now under mining the mission, and indirectly giving moral support to the opposing forces who are fighting our forces.

The campaign does not have to be a failure for the opponents start sniping. One of the strategies is for the opponents to attempt to kill funding for the campaign.(does this ring a bell?)
I will stop here and continue part three later on this week. Remember! all of this is human nature and totally predictable. No surprises here!

-- June 20, 2005 11:44 PM ∞

Investindinar wrote:

Sara,

Thanks for the information on the 80% reserve. Did you hear this from a reliable source? If so, it stands to reason that all of us are in for a good return on our investment.

There seems to be a lot of talk about a peg in July. In your opinion what percentage chance do you give this prediction? My wife and I have purchased 3,000,000 NID and we are considering buying more in the next few days. Do you think this is a wise idea?

Best Regards and Good Luck to All

-- June 21, 2005 1:55 AM ∞

okie wrote:

I believe the dinar will be pegged when it hits the market. If they do peg it to a sample group as below then the value would be around 60 cents US. I think the lower estimate would be close to the Saudi value of 26.66 cents US. Any comments?

Qty.
to each $ Valuein US $

Euros 0.8235 1.2143
Pound Sterling 0.5483 1.8238
Bahraini Dinar 0.3770 2.6525
Kuwati Dinar 0.2920 3.4247
Qatari Riyal 3.6390 0.2748
Saudi Riyal 3.7509 0.2666
UAE Dirham 3.6724 0.2723
Oman Rial 0.3850 2.5974

1 1.6860 = 0.5931

one US $ / Avg. of peers= 59.31 US cents

-- June 21, 2005 2:24 AM ∞

Angel wrote:

Iraq's Central Bank builds credibility with rock-steady dinar value

Arab News - 20/06/2005

BAGHDAD: If Iraqis have one solid economic achievement to hold on to amid their many problems, it is the strength of their currency, which some feared would be devalued out of existence in the months that followed the fall of former Iraqi President Saddam Hussein in March 2003. The dinar's current value of 1,465 to the benchmark U.S. dollar is virtually unchanged from January 2004, when the introduction of new banknotes to replace the Saddam-era denominations was completed.

Sadoon Hamoud Kathir, professor of economics and administration at the University of Baghdad, attributes this remarkable level of stability to sound government policies - specifically the transformation of the Central Bank of Iraq (CBI) into an independent body, which took place at the same time the new banknotes were issued.

"The most important move the Cabinet made was to separate the authority responsible for monetary emission from the government and to make it independent," said Kathir.

Under Saddam Hussein, the CBI was simply an arm of the executive authority, churning out more banknotes or extending unlimited credit to the government whenever the latter needed money.

The dinar, too, enjoyed less and less credibility because of Saddam's policy of printing it like Monopoly money, coupled with hyperinflation in the economy. An added problem for Iraq's post-Saddam administrators was that the Kurdish region, which was effectively autonomous from the rest of Iraq after 1991, had been using its own version of the dinar.

With the change to new banknotes, which took place between October 2004 and January 2004, the government had to put its own house in order and start making the bulk of domestic expenditure in dinars rather than U.S. dollars.

Establishing a stable currency was central to creating confidence in the CBI as an independent and credible institution, and remains so.

"The CBI's goal is to restore the stability of the Iraqi dinar against other currencies," said an official from the bank speaking on condition of anonymity.

In theory, the exchange rate is free-floating, dependent on supply and demand on the foreign currency market. But as Firas Jabbar, a financial analyst with the Romata Investment Company, explained, dinar stability has been achieved through some robust intervention by the CBI, buying and selling dollars to keep the rate steady.

Jabbar has confidence both in this proactive approach to monetary policy and in the stability of the Iraqi money market.

"I'm very optimistic about the current situation," he said. "And I have confidence in the economic policy of the new government."

Apart from the fact that Iraqis are generally comfortable using their national currency because they can reasonably assume the exchange rate is not going to suddenly rocket out of control, dinar stability brings other economic benefits.

Businessmen are happy because the price they pay for imported goods remains steady. As Ali Hussein, who sells footwear wholesale to traders at the Al-Shorja market in Baghdad, says he does well out of exchange-rate stability.

"The current exchange rate is OK compared with Iraqis' income," he said. "In the coming period, I expect the currency to appreciate to 1,000 dinars to the dollar."

Hussein's optimism about the dinar's potential to appreciate in value is shared by economist Kathir, who said if the government continues to pursue prudent policies, the exchange rate could shift to 500 dinars to the dollar.

But it is important to note that such nominal values are less important as a measure than the real exchange rate, which takes price rises into account. Dinar stability against the dollar will mean little to consumers if inflation makes shop prices unaffordable.

Curbing inflation, therefore, remains a central plank of monetary policy. In May, CBI governor Sinan al-Shabibi was quoted by Reuters as forecasting that the inflation rate, estimated at 30 per cent in 2004, could fall to 20 per cent this year. The CBI currently estimates annual inflation at around 17 percent.

Mustafa al-Azawi, who describes himself as an average consumer, said currency stability was unimportant because inflation still made things costly.

"Although the dinar has appreciated [since 1993], everything is still expensive," he said.

http://www.menafn.com/qn_news_story_s.asp?StoryId=96466

-- June 21, 2005 6:18 AM ∞

Angel wrote:

Iraq Stock Exchange To Join International Federation

"The Iraqi stock market has received a promise from the International Federation of Stock Exchanges to be accepted as a member in it, upon the completion of the necessary documents and meeting the terms for joining it."

http://mathaba.net/x.htm?http://mathaba.net/0_index.shtml?x=246904

-- June 21, 2005 6:24 AM ∞

Carl on Wilson Lake wrote:

THE QUESTION HAS BEEN ASKED
Well! if it wasn't for "Weapons of Mass Destruction" why did we remove saddam?

The S L I P PPPPPE RRR YYYYYYYYY STUFF "OIL" JUST HIT $60.00 A BARREL.

Anymore Questions?

-- June 21, 2005 7:35 AM ∞

GEORGEWOOD wrote:

Sara,

There are shoppers and there are shoppers - until I met her thought Vitton, Gucci and Minolos where cities in Europe. Boy was I wrong! Heck I drive a GMC and drink Rolling Rock beer.

Going for 10 mill this week - what the heck its only money.

Loved your bible quote about taxes - Peace.

-- June 21, 2005 8:12 AM ∞

Carl on Wilson Lake wrote:

Investindinar

You ask what are the chances of the dinar pegging in July?
Well let me ask you just a few questions that give you the answer you are looking for...

Presently:
Has the Iragi constitution been even completely drafted much less written?

Is the Iraqi government presently operating under a permanent government or interium government?

Does the Iraqi Security forces such as Police and Military have a majority of the responsibility for controling the country?

Does the Iraqi Security Forces presently have a handle on the insurgency or at least curbed down, so the contruction of Iraq will not be slowed down by it?

Is the Iraqi Government now a permanent member of the IMF?

Is the ISX presently a member of International Federation of stock exchanges?

Is the ISX presently automated in their stock trading?

Have a majority of the Iraqi Banks presently trained all of their managers in the new banking regulations?

Has the new constitution been presented to the citizens of Iraq for vote?

If the new constitution is turned down, what do you think happens?

Have the Iraqi citizens voted on the new members of a permanent government?

Can the interium government, now enter into long term commitments with major investors or companies that want to come into Iraq, so their investment will be secured?

Has the corruption within the Oil ministry and agriculture ministry been removed and stopped completely?

Are the oil companies still refusing to rush into the northern oil fields to explore and setup new oil rigs for expanding the oil production, because of the attacks against their rigs and men?

Is the dinar currency now accepted on the international market as tradeable currency?

Values do not increase just because you think, hope or wish they will.

Values do not increase without strong economic forces or political stability within a government.

Values do not increase until you have the majority of responsibility of your survival in your hands,and not in foreign forces, that are starting to feel pressure from its own citizens to pull out, before you are ready to steady your own ship.

Values do not increase until investors have confidence in the new government and that government has control of not only the economic grown, but security of its borders and territory.

Values will not increase until the Iraqi government is ready for them to increase.

Do you think Iraq is ready at this time?

Then ...I believe you just answered your own question.

-- June 21, 2005 8:36 AM ∞

GEORGEWOOD wrote:

"Values do not increase until you have the majority of responsibility of your survival in your hands,and not in foreign forces, that are starting to feel pressure from its own citizens to pull out, before you are ready to steady your own ship."

Are people demonstrating in the streets for our troops to come home - hardly! Just because the news media and some democrats want us to fail for their own political gain does not make it so. To hell with democracy and freedom - as long as we win the next election and bring down Bush. Lets close down Gitmo and let all those nice terrorist go so they can head back to Baghdad or New York to fight another day. Dick Durbin comparing us to the Nazi's and the Khmer Rouge. Disgusting!

If I didn't have one cent invested in Iraq - I would still be for the Iraqi people and the USA.

Peace

-- June 21, 2005 9:12 AM ∞

Carl on Wilson Lake wrote:

Georgewood
What I made was a factual observation. We presently have self serving senators,such as durbin, kennedy's, Deans, Kerry's, etc within their self serving political party doing everything they can to make the Bush Adminstration look less than steller.
They really don't care what direct or indirect effect it has on the soldiers or the citizens of Iraq. The goal is to demean our efforts and this adminstration.
I invested 1.5 yrs ago...and have no regrets at all. I am fully convinced and confident, given time, the dinar will increase in value, along with the security and economic growth of the Iraqi nation.

-- June 21, 2005 10:58 AM ∞

GEORGEWOOD wrote:

Carl,

Couldn't agree more. Someone should remind them that we are in the middle of a war! Did we let captured prisoners of war go during WWII - or try them while the war was going on? The Nuremburg trials where conducted after the war was over. When El Kiateh displays the white flag - we can try them in Cuba or the Haig or wherever Durbin and the Swimmer want. Just a total frickin disgrace.

Peace

-- June 21, 2005 11:21 AM ∞

Mike wrote:

I'm in. I explained it to my wife, and she agreed. My advice to those who are tempted to buy behind your spouse's back is to be open about iI. I bought 1.5 million dinar through buyiraqidinars.com. James Soroka was prompt with the delivery. I read about people cashing in when it pegs (if the value goes up), but what about holding on for a few years for the value of the dinar to rise?

-- June 21, 2005 11:25 AM ∞

vito wrote:

Aaron

can I be one of your childern

vito

-- June 21, 2005 11:32 AM ∞

itroxell wrote:

Hello all,

Lila:

My message was to set up an account with an international bank and just have it ready. Not to deposit the Dinar. But you did just shed some light on the fact that HSBC will take your Dinars. (Convert them to dollars.) This means there are plans in place to move the Dinar back to Iraq...

On the peg:

The sources are confidential... There are many powers at play on the peg of the Dinar.. Money makes the world go round, bottom line... we are all here to make money, right? There many high ranking officials that are going to make a HUGE profit on this investment. They are pushing for a peg in July. We'll see... It will be soon..

Carl you have to look outside the box... Remember the surprise we all got when the turnover of Iraq happened earlier than advertised... will the peg will be the same way.. we all just have to be ready to make smart decisions with our investment... Consult a financial planner, etc.

Eyes on the horizon...

Ian

-- June 21, 2005 11:40 AM ∞

RYAN wrote:

i would like an answer to my post and aarons post from someone other than just sara....are the posts about"from my source that dinar is pegging soon or in july or at .30 cents or that a sadam was released and is is going to burn all the oil himself" just kidding
this forum i hope consists of facts and maybe some stretchs so my question again does anyone have any concrete reliable sources or what???????
sorry if i sound like a jerk

-- June 21, 2005 11:46 AM ∞

RYAN wrote:

sara

thanks for th encouragement

"RYAN - I am confident it will peg SOON, yes. :)"

-- June 21, 2005 11:51 AM ∞

RYAN wrote:

itroxell

i understand your comment, but where you got your info is it a solid lead that you sell the farm on???????

"The sources are confidential... There are many powers at play on the peg of the Dinar.. Money makes the world go round, bottom line... we are all here to make money, right"

-- June 21, 2005 11:57 AM ∞

Jose wrote:

CARL, I tend to agree with you on most of that. But there is one thing that keeps nagging at me. Of the current iraqi budget of approx. 25 bil. They are using approx. 11 bil of it for subsidies, food,gasoline,fuels etc because of the low value of the dinar. Not to mention the lack of trade into iraq. I know that their exports are cheaper to buy with the cheap dinar. But How long can the iraqi gov. go on subsidizing the people. Does it not make sense to adj. the dinar to a level that would remove most of the burden off of the Gov. and still keep the iraqi exports attractive to foreign countries. I would appreciate your thoughts on this idea. Thanks,Jose

-- June 21, 2005 12:16 PM ∞

Sara Madgid wrote:

Carl;
I appreciated your history lesson.. very informative and intriguing. True, too. :)
You opinions are a bit cynical or jaded.. particularly about the reason(s) for going into Iraq.
But we can agree to disagree on that. :)
God alone knows the full measure of what went into the decision.
I do think our security was uppermost in their minds, not oil.

Aaron;

You asked:
"What are we basing our assumptions on concerning the Dinar Pegging soon?... (Is it) based on others posts, articles in the press, speculation? "

If you read Carl's posts, he is not of the opinion that it will peg soon. He thinks it will appreciate slowly over time, as the stability in Iraq improves. Others, like myself, see a Soon to be date for the peg. The 2004 speculators were speculating a quick peg at a time where the country did not have a duly elected government, and the country's finances were not yet fully in the hands of the Iraqi people. I believe that changeover and full implementation of financial independence for the Iraqi government happens the end of June 2005 (articles supporting this posted above, within the last week or so). Each of us are basing our beliefs at least PARTLY on the articles in the press. Unlike a stock where almost everything BIG is under wraps by insiders, we have a lot of the facts of the case easily available to us to read and speculate on openly. Carl is taking a course by experts in the field of currency speculation and how currency appreciation regularly works. I think Iraq, with the other countries of the world helping it along, is more likely to succeed and more quickly than the "regular" appreciation values. Sort of an "outside the box" thing as itroxell said.

Investindinar;

I did hear that information from a reliable source, about the 80% reserve. I will have to look for the article, but I have no access to my own computer today, so I cannot do so right now. I thought (and still think) that buying Dinar is a good idea with speculative cash. What you feel comfortable with investing is up to you. I think the investment is very good and will turn out well. (In other words, if you can afford it, and are comfortable investing more into Dinars, YES, I think it is a wise idea.) :)

Okie;
Interesting statistics. Very good scenarios. :)

Angel;
Interesting information.

Georgewood;
I believe buying more Dinars will certainly help with the shopping habit, to make it easier to take. :) Glad you liked the quote. :)
I think the Iraqi people are gaining greatly by this venture.. a free democratic country! Who would have thought they could achieve that aim for their people?? A win-win situation all round, I believe. :)

Mike;
Glad you and your wife are in. :)

Ian;
I agree, on some things the sources must remain confidential. As Mark said jokingly, "if I tell ya I would have to kill ya."
http://truckandbarter.com/mt/archives/000502.html#11976

RYAN; No offense taken. You are welcome for the encouragement. I hope others will post more often, too. :) I appreciate hearing all the opinions given, whether I agree with them or not.

Sara.
----
It's the little things that matter most: what good is a bathtub without a plug? :)

-- June 21, 2005 1:23 PM ∞

Carl on Wilson Lake wrote:

Itroxell

If I had not been thinking outside of the box, I would not have considered the dinar as an investment.
The Dinar senario, definitely does not fit the standard "In the box investment".
Just being pragmatic Itroxell...that is all.

-- June 21, 2005 1:39 PM ∞

Carl on Wilson Lake wrote:

Jose:
I agree with you on the subsidizing, as the Iraqi government will make the adjustment, but it is my gut feeling it will not be until the constitution is ratified, and a permanent government is seated.
Security has to get better, and the Iraqi's have to be handling the majority of their security in order for the world to see them as viable and survivalable.
I believe the new Iraqi leaders have given us a time frame, by saying, they would like the Coalition forces to stay for at least another 2 years. This will be in 2007, which is also when the GCC common market will be completed, along with other economic factors affecting the strength of Iraq's economic situation.
But then again, this my "SWAG". I do not have a financial crystal ball, and in spite of everything that I see, that says the timing is not right for the dinar to peg, it could peg tomorrow. As a matter of fact...I hope I am wrong in my observation and we all can achieve some partial profit taking in July as some hope.
All dinar investors are on the same song, I am just humming the tune, why others are singing out loud...

-- June 21, 2005 1:51 PM ∞

Sara Madgid wrote:

Canada cancels 80% of Iraq's debt
Tuesday, June 21, 2005

(MENAFN) Iraq announced that it has signed a bilateral agreement with Canada cancelling Iraq's $470 million debt, amounting to 80 percent of Canada's claims against Iraq, Portal Iraq reported. The accord implements the agreement in principle concluded on November 2004 between Iraq and 18 governmental creditors comprising the Paris Club. The Canadian accord is the second to be signed with Iraq's Paris Club creditors. In December of last year, the United States cancelled the entirety of its claims. Prior to this agreement, the claims of the Canadian government against Iraq totaled approximately $590 million. When fully phased in, the agreement signed will reduce this debt stock to approximately $120 million. The debt reduction will take effect in three installments. Approximately $175 million will be cancelled immediately; a second installment of approximately $175 million of debt cancellation will automatically become effective upon the signing by Iraq of a formal stand-by arrangement with the International Monetary Fund (expected during the second half of 2005); and a final installment, equal to approximately $120 million, will automatically take effect upon completion of the stand-by arrangement. The residual debt stock will be repayable over a 23 year period with six years of grace on principal payments. No principal or interest will be payable during the first three years.
http://www.tbiraq.com/menafn_news_bl.asp?inc_name=news_details&n_id=96808#

-- June 21, 2005 2:10 PM ∞

RYAN wrote:

carl i totally agree with your last post...
my gut is in a couple of years as well, but i feel that it may go sooner to creep up to that point, once it has a real value then there is worth and more trade can be conducted... wich snowballs everything else to bring the value up...
i have to lean more toward sooner but im real curious about the buzz of july if that is from reliable sources or something that someone else posted
ryan

-- June 21, 2005 2:30 PM ∞

GEORGEWOOD wrote:

Japan - 55+ years
Germany -55+ years
South Korea - 50+ years
Bosnia - 10+ years
Iraq - 3+ ?????
We are going to be sending our grandchildren to Iraq - hopefully a peaceful and stable Iraq.

Democracy is starting to flourish in the mideast - well maybe not flourish but it is a start in Lebanon & Egypt. Iraq is the key to it all - if we fail in Iraq so will democracy in the mideast. That is why they are throwing everybody and their brother at us in Iraq. The terrorists and tyrants know that when we win in Iraq the ball game is over for these clowns!

I dont know what this has to do with the peg but we will win - hopefully sooner than later. But we will win!

-- June 21, 2005 3:49 PM ∞

Carl on Wilson Lake wrote:

Gerogewood

The insurgency forces would throw chipmunks at us, if they thought they would bite. The battle for Iraq is going to be the deciding factor, as to what happens with democratic changes in the middle east.
If the new iraqi government is successful in the eyes of the international community, the dinar will fly like a eagle. If the government falters, it is going to dive like turtle to the bottom of the scale.
So the fight for the minds and hearts of the iraqi people is of extreme value to the world.

-- June 21, 2005 4:53 PM ∞

Sara Madgid wrote:

US will probably begin drawdown of force in Iraq next year
First Published 2005-06-21
US commander predicts insurgency to dwindle rapidly once government elected with broad support.
By Jim Mannion � WASHINGTON

The US military will probably begin withdrawing some forces from Iraq by March, a top US commander said Tuesday, predicting the insurgency will dwindle rapidly if the country's Sunnis, Shia and Kurds can agree on a constitution and elect a government that has broad support.

"So what I would think is we would continually assess, bring down part of the forces, assess what the conditions are, what those effects are, and then continue to do that.

"To rapidly cut it without any significant change in conditions or without time to assess them, I would think, would not be a wise course of action," he said.

Vines said he opposed announcing a timetable for withdrawal.

"That's an arbitrary decision that's just based on a calendar. And I don't think that necessarily meshes with the conditions the way we might see here in-country," he said.

Despite the high levels of violence, the general said the insurgency was "relatively static," neither expanding nor contracting.

If the transitional government succeeds in drafting a constitution that is broadly acceptable to the country's Sunni, Shia and Kurd communities and it is ratified, he said, "my assessment is the insurgency could dwindle down very quickly."

"Our responsibility is to provide space and time for this process to work so that this new government and the constitutional process -- the election process is allowed to proceed without being murdered in its infancy by insurgents who don't want to see it succeed," he said.

The constitution now being drafted is supposed to ratified in a referendum in October, which would be followed by elections for a new government in December, completing a transition to sovereignty that began a year ago.

He said the insurgency is being sustained from outside the country by leaders who pay for attacks inside Iraq and facilitate a flow of foreign fighters through Syria. He said there was no indication of direct Syrian government involvement.

About 75-150 foreign fighters from Saudi Arabia, Yemen and Sudan enter the country a month for suicide and other operations that Iraqis will not do, he said. Iraqis, meanwhile, are being paid as little as 150 dollars to plant a roadside bomb, he said.

"What we don't see are groups of 200 or 300 or 400 people operating together. What we don't see is them controlling cities. What we see are small cells that pay people to attack the coalition," he said.

"So intelligence-wise, I don't see anything driving the insurgency up and I certainly don't see it growing at this point. Could either one of those change? A political solution could absolutely change the dynamics," he said.

Vines said that while progress has been made in creating Iraqi security forces, they lack a military bureaucracy capable of sustaining them. Developing one will take time, he said.

He noted, however, that the insurgency draws tacit, if not active, support from many Iraqis who oppose the US military presence. "And I think, ultimately, we want to come down as quickly as conditions permit," he said.

-- June 21, 2005 6:15 PM ∞

Investindinar wrote:

Dear All,

After reading many of the posts here about the possible July peg, my wife and I have decided that we are going to buy a few million more NID's. We bought our first 3 million in Bahrain when we were working there. But now that we are back in Canada, we would like some advise from people on this message board as to the best place to purchase it from. We have heard a lot of good things about www.buyiraqidinars.com, is this the best option? Or does someone have a better recommendation?

Take Care All,

Investindinar

-- June 22, 2005 3:03 AM ∞

GEORGEWOOD wrote:

These questions have probably been asked but it may help out others.

1. If the Dinar does not peg at the end of June what is the next significant date that it may? Hope it doesn't - need a few more weeks to reach my target goal? No offense to the veterans of the site.

2. When it does peg - should I make a mad dash to HSBC in NY to cash out or are some people going to cash some in and wait to see what happens with the rest of their investment?

3. How volatile do you think the Dinar will be when it does peg?

4.How does the Forex market work - is it like the stock market where the value of the Dinar will change from minute to minute or day to day? How often are the exchange rates set?

-- June 22, 2005 7:52 AM ∞

Michael wrote:

BRUSSELS (Reuters) - The United States and the European Union rallied world help for Iraq on Wednesday and urged Baghdad to ensure minority Sunnis help shape its future.

The conference communiqu called on Iraq's creditors to give generous debt relief and pledged support to Baghdad's efforts to join bodies such as the World Trade Organization.

Did I see World Trade Organization?

-- June 22, 2005 9:53 AM ∞

allen wrote:

A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency (most often the US Dollar), to a basket of other currencies, or to another measure of value, such as gold. As the reference value(USD) rises and falls, so does the currency pegged to it. A currency that uses a fixed exchange rate is known as a fixed currency. The opposite of a fixed exchange rate is a floating exchange rate
a floating exchange rate in Iraq's case would be much more volatile vs the peg
which would be more stable
i.e.; appreciatte and deappreciatte.

-- June 22, 2005 9:57 AM ∞

Sara Madgid wrote:

Iraq conference opens in Brussels
(AFP)
22 June 2005

BAGHDAD - Iraq sought support on Wednesday from an international conference aimed at underpinning government plans to spread democracy and the rule of law as while violence ground on in the war-torn country.

An Iraqi delegation was in Brussels for a foreign ministers� meeting of over 80 countries that included top diplomats from the United States, the European Union, Russia, Japan, Iran, Syria, the Arab League and the United Nations.

It was the first such conference attended by the interim Iraqi government since landmark democratic elections in January, an event which muted some European opposition to the US-led invasion in March 2003.

�The international consensus that has long eluded us on Iraq is now in place,� EU foreign policy chief Javier Solana said Tuesday.

US Secretary of State Condoleezza Rice told AFP after a pre-conference dinner late Tuesday: �I think the Iraqis can expect a lot of international support from a very important conference.�

China�s Foreign Minister Li Zhaoxing echoed those comments shortly before the talks started. �I hope the conference will help for a better and fairer working out of this very important and delicate question of Iraq.�

A US general announced a possible reduction of troops in Iraq once a second general election scheduled for December had been held.

As many as five brigades could leave Iraq if the country�s ethnic groups agree on a constitution and elect a government that has broad support, Lieutenant General John Vines said.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June136.xml§ion=focusoniraq&col=

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Georgewood, you asked:
"If the Dinar does not peg at the end of June what is the next significant date that it may?"

Dramatic concrete action will happen mid-July this article below says (last sentence). :)
Maybe that will be the next ball toss.. hope it is a homer.. right out of the park! :)
Sara.
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Iraq expects solid international support at critical moment
(AFP)
22 June 2005

BRUSSELS - Iraq�s transitional government expected solid support Wednesday from a world community now ready to forget its rows over the US-led war and focus on freeing the country from bloodshed and despair.

An Iraqi delegation headed by Prime Minister Ibrahim Jaafari has traveled to Brussels to map out the way ahead with top diplomats from the United States, the European Union, Russia, Japan, Arab and other countries.

UN chief Kofi Annan was also here.

Their one-day conference opens at 9:15 am (0715 GMT) in the EU�s modern, flag-bedecked meeting hall for heads of government and heads of state.

�I think the Iraqis can expect a lot of international support from a very important conference,� US Secretary of State Condoleezza Rice told AFP after dinner late Tuesday with the various delegations.

It is the first such conference attended by the interim government elected in Iraq�s landmark democratic elections in January, an event which muted some of the opposition in Europe over the US-led invasion of Iraq in March 2003.

�The international consensus that has long eluded us on Iraq is now in place,� said European Union foreign policy chief Javier Solana.

However, the violence is greater than many anticipated, including Britain, a military ally of the United States in Iraq.

For Iraqi Foreign Minister Hoshyar Zebari, the international community must move quickly to stabilize and rebuild Iraq or risk seeing shockwaves sent through the Middle East and even further.

�That�s why the stakes are high,� Zebari said.

Later in an interview over coffee with AFP at a plush hotel in Brussels, Zebari said: �We would like to see something tangible coming out of this conference.�

He hoped for steps that would lead to building more hospitals and power stations in Iraq as well as freeing up billions of dollars in international aid that were pledged but never delivered.

Zebari said technical and logistical help is needed in helping Iraq draft a constitution in August, hold a referendum in October and organize elections in December.

Debt relief has been billed as a key agenda item but there was no indication what sort of offers were in the pipeline beyond the 32 billion dollar package announced by the Paris Club of creditor nations in November.

Rice played down hopes of a breakthrough on Iraq�s crushing debt. �I�m sure we�ll have those conversations, but I don�t expect that there will be really an outcome in that regard,� she said.

Iraq also hopes that the Brussels conference will provide support to reform its judicial and penal systems, in serious need of strengthening to help get a grip on the continuing unrest, more than two years after Saddam Hussein�s ouster.

On this front, the EU is set to launch an unprecedented initiative next month by training some 800 Iraqi judges, senior officials and police officers. The instruction will take place outside of Iraq itself.

An EU diplomat denied that the conference was purely symbolic, but also downplayed prospects of dramatic concrete action -- for that she pointed to a donors� conference due in mid-July in Amman.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June134.xml§ion=focusoniraq&col=

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Al Qaeda says Brussels meet aims to destroy Iraq: website
(Reuters)
22 June 2005

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/focusoniraq/2005/June/focusoniraq_June138.xml§ion=focusoniraq

Quote from above url (article):
�The enemies of God gather at the conference in Brussels to destroy Iraq, not to build it,� said the Sunni Muslim group..."

This conference in Brussels must be very good for Iraqi freedom if the Al Qaeda are worried about it destroying their plans for Iraq! :)

Sara.
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-- June 22, 2005 10:17 AM ∞

Michael wrote:

Carl, Sara, I was looking at the International Monetary Fund this morning and noticed that Iraq is projected to start paying into the fund in 2008

http://www.imf.org/external/np/tre/tad/exfin2.cfm?memberKey1=460

Also look at this:

http://www.imf.org/external/np/tre/tad/extforth.cfm?memberKey1=460&date1key=2005%2D05%2D31&category=FORTH&year=2008&trxtype=REPCHG&overforth=F&schedule=exp&finposition_flag=YES

Just wondering if Iraq would have to be accepted back to the IMF before this would happen?

-- June 22, 2005 10:19 AM ∞

Sara Madgid wrote:

Perhaps the Al Qaeda don't like the progress away from dictatorship rule to, quote:
"a democratic, pluralist, federal and unified Iraq, reflecting the will of the Iraqi people, in which there is full respect for political and human rights" AND "a stable, constitutionally elected government, established through democratic processes"..... which are the goals this article speaks of as being affirmed at the conference?? :)
Sara.
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International Community Supporting Iraq
By CONSTANT BRAND, Associated Press Writer
June 22, 2005

BRUSSELS, Belgium - Top Iraqi officials laid out their plans for reform Wednesday, urging their neighbors and other nations to provide expertise and aid as they work to secure order, rejuvenate the economy and draft a new constitution.

Prime Minister Ibrahim al-Jaafari and other members of his transitional government presented their plans at a one-day international conference on Iraqi reconstruction that brought together more than 80 senior officials from the United Nations, the European Union, the United States and other countries.

The conference, co-hosted by the EU and Washington, was called to bolster international backing for the return of Iraq to the international community, said Luxembourg Foreign Minister Jean Asselborn.

International leaders have urged Iraq's new Shiite-led government to include Sunni Muslims in the political process, a move seen as key to curbing the deadly insurgency.

Iraqi Foreign Minister Hoshyar Zebari said a lot of work lies ahead of December elections to choose a full-term government. Iraq does not underestimate "the very real challenges" it faces, from continuing attacks from insurgents to finding agreement among Iraq's many ethnic groups on a constitution, he said.

"We want a stable, constitutionally elected government, established through democratic processes," Zebari said.

He set out four top priorities: drafting a constitution and holding elections on time, securing the stability of the country, rebuilding the economy and healing ties with neighbors.

To carry out those tasks, Zebari asked for help training Iraq's military and for its neighbors to take serious action in controlling their borders to prevent insurgents from infiltrating into Iraq.

Zebari also said Iraqis would ask their neighbors to restore diplomatic relations with Baghdad that were suspended under Saddam Hussein's rule. He announced Wednesday that Egypt is the first Arab nation to send an ambassador to Iraq.

In a draft declaration, participants "expressed support for Iraqi efforts to achieve a democratic, pluralist, federal and unified Iraq, reflecting the will of the Iraqi people, in which there is full respect for political and human rights."

The declaration also will call for "all Iraqis to participate in the political process," especially in writing the new constitution, according to the draft seen by The Associated Press.

They called on Iraq and its neighbors to work together to prevent cross-border transit, and to strengthen relations.

Participants also committed to carrying through on some $32 billion in pledges made at a donors' conference last year and reiterated commitments "to provide debt relief on generous terms."

The gathering also gives Europe, the United States and other nations the chance to move past divisions on Iraq.

"This is a very important day for Iraq. It is replete with symbolism because what it emphasizes ... that the international community, having been deeply divided during the course and before the military action, has now come together actively to support the building of a democratic, peaceful and prosperous Iraq," British Foreign Secretary Jack Straw said.

http://news.yahoo.com/s/ap/20050622/ap_on_re_eu/eu_iraq_conference

-- June 22, 2005 10:44 AM ∞

Kevin Brancato wrote:

Folks, this post is getting too large, so I've closed comments here. However, a new page is at your disposal for Dinar discussion.

Here are all the posts about the Dinar.

1) June 16, 2004 - June 27, 2004
2) June 27, 2004 - November 6, 2004
3) November 6, 2004 - April 11, 2005
4) April 11, 2005 - June 22, 2005
5) June 22, 2005 - ...

-- June 22, 2005 12:32 PM ∞