Top Post By sshear01 (2 thumbs up):
Info that supports the RV happening "Soon"
The Iraq Dinar is on the Forex Board but as yet no Rate, but must go on the board to be recognized as a International Currency.
The Iraq Dinar is on the Interbanking Board as yet no rate, but must be recognized as Iternational currency.
The GOI and CBI have both posted statements to the People of Iraq telling them the Dinar is going to rise in value so the people will share in the oil revenue.
Obama made a statement when he returned from Iraq saying their currency would soon go up in value.
They have 32 billion dollars frozen in the USA alone which will not be released until the removal of Article 7 and that article has a stipulation saying they must revalue before it is lifted.
They have 40 Oil Tankers frozen around the world waiting on the removal of Article 7. Don't know their value but probably billions rather than millions.
They have untold Bank accounts opened by Saddam that were frozen again. How Much value is Unknown.
Although unseen by myself the International Banks Red Book is reported to contain the new Base rate for Iraq Dinar.
The Banks in Iraq are about to issue Mastercards which are not recognized worldwide unless they have an International currency backing them and this was for Iraq people traveling abroad so they must intend for the Dinar to become International or what is the point.
Warka bank have told me personally they will be issuing Mastercard to their Foreign Clients, my account is in Dinar and they told me l will be able to use the card against that account.
June 15th Meeting of the UN to lift final sanctions against Iraq.
IMF Loan of 7 Billion agreed but has stipulation currency must be Internationally recognized to repay the loan, IMF regulations.
The Iraq Dinar is showing in the Rate book used by the USA with no rate but is not stamped as it was last year "DO NOT USE."
- from the topic: RV or Reassessment Support Information
Recent Posts by sshear01:
September 5, 2009 by sshear01
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Nadim Kawach
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Saturday, 05 September 2009 02:45
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Saudi Arabia and three other Gulf oil producers have sought assistance from the International Monetary Fund on a possible revaluation of their currencies as part of a landmark plan to create the world’s second monetary union in 2010.
In a working paper released, the IMF suggested slight appreciation of the currencies of Saudi Arabia, Kuwait, Qatar and Bahrain against the US dollar, but it warned any leakage of news ahead of the revaluation could spur damaging speculation. “This paper developed from an informal request to one of the authors by a member of the Gulf Co-operation Council (GCC) Secretariat for guidance on how to set the conversion values for the new GCC currency. He subsequently requested such advice from the IMF. This working paper describes one method that could be used for the conversion.” The report said such a methodology could also be useful for the UAE and Oman in case they decide to join the GCC monetary union at a later stage. “If hypothetically the GCC decides to establish the new currency in its original planned year, 2010, Saudi Arabia would need to revalue its currency by 2.94 per cent vis-à-vis the US dollar, Kuwait by 5.15 per cent, Qatar by 4.54 per cent and Bahrain by 1.09 per cent. The methodology provides an estimate of the required adjustment for each currency, if the conversion is to take place in 2011, 2012 or 2013,” said the working paper. The paper said that because of these low estimates of the degree of misalignment, the GCC authorities might choose to not modify their current parity vis-à-vis the US dollar. “In addition, if information of possible adjustments filters to the market, the agents might undertake speculative attacks that might undermine the exchange rate adjustment and could harm the creation of the new currency,” it said. The paper said only a small exchange rate adjustment (less than five per cent) is needed for the GCC currencies to establish the conversion at the closest level to equilibrium. “Moreover, the adjustment tends to decline from 2010 to 2013… we recommend that the GCC authorities rigorously apply our proposed method [alongside other methodologies and with full use of information available within the region] to test these results to help set the conversion rates for the future union,” it said. “In a broader perspective, we recommend a regular update of the forecast misalignment using the bi-annual World Economic Outlook publications to monitor the conversion rate and make sure it is still the closest to the equilibrium value. It could also be useful to calculate the real exchange rate (RER) equilibrium and misalignment using forecasts from other databases or using the national agencies’ forecasts.” The paper concluded that GCC nations could also construct several terms of trade variables that would reflect different oil prices and use these variables to calculate the RER misalignment to see how the different currencies would deviate from the equilibrium, and calculate the required exchange rate adjustment if any of the scenarios is to occur. Oman pulled out of the planned GCC currency union in late 2006 on the grounds it is not ready for the project. The UAE followed suit in early 2009 apparently to protest the GCC decision to locate the Gulf Central Bank in Riyadh not in Abu Dhabi. GCC officials discussed the monetary union plan in Kuwait yesterday but there was no word whether the scheme would be launched on time next year. The four members have not made clear what form of currency would be in circulation but some officials have indicated national currencies would remain in circulation in the first stages of the union. A new peg, possibly a basket of currencies, could be adopted then. The currencies of Saudi Arabia, Qatar and Bahrain are pegged to the US dollar while Kuwait ended that peg and reverted to a basket in early 2008 because of soaring inflation, for which it blamed the dollar and other factors. Hot money poured into the oil-rich region in late 2007 and 2008 on mounting speculation the GCC countries are about to revalue their currencies against the dollar to tackle inflation, which soared to double digits in most members. Global Arab Network http://www.english.globalarabnetwork.com/200909052550/Finance/imf-assisting-gcc-to-set-up-monetary-union-in-2010.html
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August 20, 2009 by sshear01
IMF seeks flexible rate for GCC common currencyThursday, August 20, 2009
Four Gulf nations planning to launch the world's second monetary union in 2010 need to adopt a flexible exchange rate for their common currency, the International Monetary Fund said yesterday.
In a report about Saudi Arabia, the Washington-based Fund said the long-standing peg between the Saudi riyal and the US dollar had ensured economic and financial stability to the world's largest oil exporter.
IMF Directors said the decline in the riyal in 2008 because of the weakening in the dollar was only temporary and could recover in the medium term.
"Some Directors encouraged the authorities to consider a more flexible exchange rate regime for the Gulf Cooperation Council (GCC) monetary union, in consultation with other members of the union," the report said.
"Directors encouraged progress toward the monetary union by developing operational responsibilities and the governance structure of the future central bank, harmonizing macro-economic statistics, and establishing an efficient payments system."
Saudi Arabia, Kuwait, Qatar and Bahrain have said they are pushing ahead with the monetary union despite the withdrawal of the UAE and Oman.
The four members have indicated their currencies would remain pegged to the dollar in the first stages of the monetary union but they would decide on a new peg at a later stage. Some officials have spoken of a basket of currencies in which the US dollar would have the lion's share. The currencies of Saudi Arabia, Bahrain and Qatar are pegged to the dollar.
August 17, 2009 by sshear01
Rumor???
Wednesday, August 12, 2009
IMPORTANT DATES FOR AUGUST - SEPTEMBER 2009
AUGUST 22, 2009
Trader Talk With Art Cashin
http://www.cnbc.com/id/15840232?play=1&video=1213912177
EXPECT TO SEE SOMETHING ON THE TWENTY-SECOND OF AUGUST - RAMADAN WEEKEND - A POSSIBLE GEOPOLITICAL SURPRISE
And…
August 24, 2009
A UAE central bank circular sent last week directed banks to name foreign "politically exposed persons (PEPs)", banking sources told Reuters. PEPs refers to foreign politicians, public officials and their families.
"Logically, when banks have relationships with PEPs, the main concern is misuse of their country's money in any form - money laundering, channelling, etc," a senior banker said., declining to be named due to confidentiality reasons.
Banks are required to report the names of the PEPs to the central bank by August 24, he said.
http://articlesofinterest-kelley.blogspot.com/2009/08/uae-tightens-money-laundering-rules-on.html
AND ..... ON THE 24TH, RUMOR? MAYBE - MAYBE NOT
"As to your Bank Holiday information of this morning, the following is from a close CIA connection, the way it will come down is that starting 8/24, groups of banks will be closed in certain regions of the country for a week or so.
They will open again, and then other groups of banks in different regions will be closed; and on and on it will go, until all the banks in the country have gone through that process.
The banks will be opened with a new global currency. Indeed the ratio will be 1 to 6, or 1 to 12. Thus, if you had formerly $6M in the Bank, after a ratio of 1 to 6 with the new currency, you will get 1M value in the supposed new legal tender."
AUGUST 26, 2009
Harry Schultz newsletter
Conclusion: Stand by for a possible bank run & bank holiday on Aug 26th, after the news breaks on the 25th. (FDIC 2nd Qtr.. Report)
This is in line with the HSL prediction of a US bank holiday in Aug/Sept. If you live in the US, get 3 to 6 months household expense money out of banks now.
August 12, 2009 by sshear01
Here’s the latest on the Iraqi dinar revaluation from Dinar Rumor.
16:15:18] okie oil man : ok here goes again i was told so much technical info that it was hard for my finite brain to keep up with it–but here’s what I was told–
on the last g-20 meeting that 250 billion was appropriated to 3rd world countries to help world economy and that the US was underwriting the IMF for up to 1.2 trillion dollars if need be–
these small countries was to invest some of allocated funds into buying Iraqi dinar on the basis of the r/v and that would pay back world bank for previous loans–and that ART 7 is passed and the r/v was mandated by the IMF to r/v before 8-23-09 but that it could happen at any moment and the way we would receive the information was to be thru the Iraqi parliament releasing to news media–
there were so much I can’t remember but maybe some relevant questions will jar my memory–I have never received such detailed technical financial info in all my life—
in summation—art 7 is passed–r/v can come at anytime but is mandated at least before 8-23 but can happen anytime–
August 11, 2009 by sshear01
Here's What Meaningless Fads Have to
Do With Gold & Your Portfolio... |
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Wednesday, July 1, 2009
Fads come and go…
Pogs, tech stocks, Rubik’s cubes, flipping residential properties, beanie babies, Barack Obama, Member’s Only jackets, iPods… we can all think of plenty of examples.
And the funny thing about fads is that when they take off, people seriously consider the fad product as an investment. In the case of beanie babies, that funny thing ended up being the reason e-Bay was founded—sort of a Nasdaq for fad trinkets.
Of course, investing in the underlying company would have been the optimal strategy—so long as you got out well before the fad crashed and you found the tech stocks next to the beanie babies in the 99¢ bin.
But imagine, for a moment, one of these fads…let’s say, Member’s Only jackets.
 And let’s also say that despite being wildly popular and in demand, the manufacturer is stockpiling in anticipation of higher prices from future high demand.
Who can blame them? They’re simply trying to find the best way to profit from their position…
But let’s further say that the manufacturer owns 80% of the total number of jackets outstanding. The remaining 20% is divided up between literally thousands of small investors.
Clearly, then, the manufacturer is in control of the market…
Say they’re short onf cash and some bills come due, as bills have the tendency to do. To get some cash, the manufacturer has to go to the jacket market…pumping up the supply.
Or, hypothetically speaking, let’s say our manufacturer has a vested interest in keeping the price low. Maybe they own London Fog – a competing outfit – and prefer that product to be more competitive.
In either case, I hope you enjoy wearing those jackets, because they won’t be good for much else at that point.
And Speaking of Points…
The point is, little investors can get squeezed rather easily in a situation where one – or even a few parties – controls the overwhelming supply of a good. It’s just simple economics.
Why’d I explain that in terms of fads?
Because that lesson is one of the prevailing truths in an investment that’s near and dear to all of our hearts. Gold.
Now don’t get me wrong…it’s great to love gold, and it’s definitely here to stay. But like the entrepreneurs who started a beanie-baby-based business, that kind of emotion can sometimes cloud the issue…
In the case of gold, most bullion is controlled by central governments. And a lot of gold bugs don’t seem to take that into account. They’re more concerned about the collapse of fiat currencies (sure, we all know it’ll happen, but it’ll probably happen at a rate best measured in geologic time).
But since most central governments hold gold as a reserve – as they have for centuries – it’s easy for them to raise money or move the market through buying, selling, repo and other arrangements.
Although gold should be part of every investor’s portfolio, it’s the ultimate buy-and-hold asset, and one that shouldn’t exceed a large percentage of a portfolio.
 In the long run – the Keynesian long run – the yellow metal’s fundamentals and track record are bar none. And compared to paper money…well, there’s simply no comparison in terms of preserving your purchasing power (see the chart at right.).
But it will be a wild ride as world governments collude to keep the price down through strategic operations in various gold markets.
But nothing lasts forever.
And when the world’s central banks lose their stranglehold on the lion’s share of gold supply, this whole “paper money” fad will likely be nearing its end…and the only kind of paper you’ll want will be gold receipts.
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August 11, 2009 by sshear01
Chapter 7 sanctions lifted
This is the first part of UN resolution S/2009/406. It seems to say that all previous resolutions (sanctions) have been removed. You can search for the pdf of resolution on the UN main website to view the full document.
The Security Council,
Recalling all its previous relevant resolutions on Iraq, in particular
1500 (2003) of 14 August 2003, 1546 (2004) of 8 June 2004, 1557 (2004) of
12 August 2004, 1619 (2005) of 11 August 2005, 1700 (2006) of 10 August 2006,
1770 (2007) of 10 August 2007, and 1830 (2008) of 7 August 2008,
Reaffirming the independence, sovereignty, unity and territorial integrity of
Iraq,
August 11, 2009 by sshear01
Getting Ready To Cash In...what's going on behind-the-scenes
I've been in chat...lots of talk about "why hasn't it happened yet?"
One thought is the smaller banks have to be brought up to speed.
Others wonder why US Treasury might take a cut off the top, which would set a precedent on the international exchanges.
Could it all relate to a coordinated "fix" of the world's financial problems....ON PAPER. We can consider this, because it's going fix our
financial problems too....right in the old bank account.
Keep in mind, the next G20 summit of countries representing the world's 20 biggest economies meets in Pittsburgh, PA in Mid-September.
Obama chairs the UN Security Council, and addresses the full 192 General Assembly of the UN concurrently. This is a perfect opportunity
for all these countries to announce their resolve and show results based on this new impetus.
SPECULATION:
Say the RV rate that is announced is $5, but the US Treasury takes $2 off the top...now we're getting $3 before Capital Gains Taxes. $3 probably represents a 3000% gain over what you paid for that Dinar!!!
Here's how it would break out:
You cash in 1,000,000 Dinars & receive $3,000,000 USD. There may be withholding for Capital Gains up front...or you may be able to collect interest on the money until tax time. Let's say Capital Gains works out at 33%.
That would mean:
Your original 1,000,000 dinars are worth $5,000,000 USD in the US Treasury's FOREIGN CURRENCY RESERVES.
Your 1,000,000 dinars are worth $2,000,000 USD in your bank account.
Your 1,000,000 dinars yield $1,000,000 in tax revenue for the IRS and your State.
A sweet deal for the Federal Government. They print the paper money. It's worth is back by "foreign currency reserves." They pay you with this paper money they print. They leverage each
1,000,000 dinars into equaling $6,000,000 US for the government
($1 million in tax revenue...& $5 million for the Foreign Currency Reserves.)
Then there's the banks. They win again with lots of new-found deposits.
As for the precedent, believe me if they do it....they'll have every country in the world doing the same thing...and suddenly we as investors are rich....and each country fixes it's problems on paper,
and perhaps....perhaps these puppet-masters can actually short circuit this recession/depression...and jump start a whole new
economic cycle.
Former dinar holders will be a whole new layer of Investors:
Real Estate, gold, CD's....I'm sure you've been thinking about how
to make this money work for you.
July 15, 2009 by sshear01
The Central Bank of Iraq has a new website and can be found at:
July 15, 2009 by sshear01
The Central Bank of Iraq has just put up a new website at the following link:
July 15, 2009 by sshear01
CBI Website down this morning at 7:50 EST. We couldn't access it at all. Something may be up.
July 8, 2009 by sshear01
Important Iraq Dates
June 23, 2009 – Oil Minister al-Shahristani questioning at Iraq Parliament
June 29-30, 2009 – bids from International Oil Companies to be revealed
July 25, 2009 – KRG Parliament Elections
Mid July, 2009 – U.N. Security Council Special Sessions meeting on Iraq
Mid August 2009 – Ratify Oil Contracts w/Iraqi Parliament
August 21st to September 19th 2009 – Ramadan
October 16-17, 2009, Getenergy for Iraq 2009, to be held in Istanbul, Turkey – New Post
October 2009 – International Compact with Iraq– Date to be Announced – Baghdad
December 7-9, 2009 Iraq Petroleum Conference London U.K.
December 31, 2009 – Development Fund for Iraq (DFI) expires
December 31, 2009 – Article Seven U.N. Charter expires
January 16, 2010 – Iraq Referendum Vote (SOFA Security Agreement)
January 16, 2010 - National Parliamentary Elections
Important Iraq Dates Update
A new date and conference has been added to the Important Iraq Dates. In October you havethe Getenergy for Iraq 2009, which is hosted in Istanbul, Turkey. The Iraq Ministries of Oil, Higher Education, and Science and Technology will be host.
Iraq Chapter Seven Update
The information that is coming out in regards to Iraq Chapter Seven changes every week and there is new information being reported in a London Arab Newspaper Al-Hayat dated 23 June.
They have not posted the story on Al-Hayat web site. Good luck viewing there web site.
Information from the position of the US Embassy has leaked out about there stand on the
Chapter Seven. What is being proposed is a New United Nations Resolution be imposed and at the same time lifting the Chapter Seven from Iraq as long as Iraq pays the war reparations to Kuwait in future bilateral talks. A signed agreement between the two countries.
There will be a special session at the United Nations Security Council (UNSC) next month (July) for Iraq as you fully aware of this by looking at my Important Iraq Dates. At about the same time is when PM Maliki will be visiting the United States. Do you think this might be a coincidence?
Nothing as of yet is concrete or set in stone this is the current position of the US Embassy
Baghdad in regards to Iraq and Chapter Seven which the U.S. fully supports Iraq being
removed.
My guess is that Iraq will not be removed at the earliest until after the Special Session UNSC meeting next month.
If you go back and read the SOFA agreement in the articles it states Iraq is no threat to any of its Arab neighbors and just another reason Iraq will have the Chapter Seven lifted soon.
On another matter and still looking at getting more information on this. The Iraqi government is proposing a 70 Billion dollar plan to rebuild infrastructure in Iraq. The Iraqi government does not have the money so it is looking at lines of credit, direct investment, or by partnering with the private sector. The Iraqi government is also asking one more thing, and that is Companies don’t get paid for five years or maybe longer. Ouch!
Now thats a great way to get foreign Companies to invest in your country tell them your not going to get paid for five years or more.
The Iraqi government wants a list of all Iraqi’s that make more than 1.5 million dinar that hold a Ration Card. Remember those stips on the IMF SBA loan I mentioned a few newsletters days ago, I am sure you all are paying attention. Well, the Iraqi government wants a list of all the names of Iraqi’s that make more then (salaries) 1.5 million dinar and those people that do will be dropped from the Ration Card distribution. This all a Trade Ministry operation and the acting Trade Minister is not playing. Maybe …Just maybe they will say something about currency! Maybe PM Maliki will talk about that when he comes to the US of A next month and talk about trop withdrawal, Politics and economics. I hear is going to some Investment Conference also.
The GOI is still needs to work on those other Stips for the SBA Loan like the State owned
Enterprises, those former Iraqi employees there are still paying salaries too. Surely the GOI is not going to fire them and add more to the unemployment line or would they.
July 4, 2009 by sshear01
Investment Guarantee Agency and the private sector of the World Bank to visit Baghdad
WASHINGTON - The country's newspaper:
زارت الوكالة المسؤولة بالبنك الدولي عن ضمان استثمارات القطاع الخاص العراق في اشارة للحكومة العراقية تعبر عن اهتمام الشركات الدولية والحاجة الى التحرك سريعا لوضع الاساس لدخول المستثمرين. Visited the agency responsible for ensuring that the World Bank's private sector investment in Iraq, referring to the Iraqi government, reflecting the interest of international companies and the need to move quickly to lay the foundation for the entry of investors.
واثناء ست سنوات من الحرب في العراق انتظر المستثمرون بصبر لاشارات على ان البلاد مستعدة لقبول المزيد من الاستثمار الاجنبي. During the six years of war in Iraq, investors are waiting patiently for signs that the country is ready to accept more foreign investment.
وقال جيمس بوند مدير التشغيل في وكالة ضمان الاستثمار متعدد الاطراف (ميجا) الذي كان جزءا من وفد سافر الى بغداد الشهر الماضي "لدينا تعبير حقيقي عن الاهتمام من كثيرين بالعراق." "James Bond, chief operating officer of the Agency Multilateral Investment Guarantee (MB), which was part of the delegation traveled to Baghdad last month," We have a genuine expression of interest from many people in Iraq. "
واضاف بوند "لدينا العديد من الشركات تتحدث معنا عن كثب بشأن العراق." Bond said: "We have several companies talking with us closely on Iraq."
وتابع "يوجد اهتمام قوي بمجالات ليست بالغة الاهمية.. واهتمام كبير بما يعتبره الجميع.. الحكومة والمستثمرون على السواء.. كمجالات بها فرص هائلة وهي النفط والغاز وقطاع الطاقة الكهربية." He continued "There is strong interest in areas not very important .. and the great interest of all .. what the government and investors on both areas .. the tremendous opportunities which the oil and gas and electric power sector."
لكنه قال ان الحماس يخف بسبب بواعث قلق المستثمرين بشأن مدى امان استثماراتهم في بلد ما تزال البيئة السياسية والامنية به هشة. But he said the secret of the enthusiasm of investors because of concerns about the safety of their investments in the country is still political and security environment of the fragile.
وعلاوة على ذلك توجد درجة من توتر الاعصاب بشأن نتيجة الانتخابات العراقية في ديسمبر كانون الاول والانسحاب المقرر لما بين 92 الفا و107 الاف جندي من القوات الامريكية على مدى الشهور الثماني عشر القادمة. In addition, there is a degree of nervous about the outcome of Iraqi elections in December and the scheduled withdrawal of 92 thousand and 107 thousand U.S. troops over the next ten months, eight.
واسست وكالة (ميجا) عام 1988 لتشجيع الاستثمار الاجنبي المباشر في الدول النامية بضمان سلامة المشروعات من خلال تأمين المخاطر السياسية. The agency was established (MB) in 1988 to encourage foreign direct investment in developing countries to ensure the safety of projects through political risk insurance.
وقال بوند ان وفد البنك الدولي ضغط على الحكومة العراقية لانهاء الجمود بشان قانون النفط الذي يلزم اصداره للسماح بالاستغلال الكامل لاحتياطيات النفط العراقية الهائلة واعادة البناء بعد سنوات من الحرب. Bond said the World Bank delegation to pressure the Iraqi government to end the deadlock on the oil law, which need to be issued to allow the full exploitation of Iraq's vast oil reserves and reconstruction after years of war.
وتأمل شركات النفط ان يحدد القانون كيفية توزيع عائدات النفط بين المحافظات والحكومة المركزية وايضا السماح باتفاقات تقاسم الانتاج. And hopes that the oil companies, how the law defines the distribution of oil revenues between the provincial and central government and also allow production-sharing agreements.
وهناك حساسية خاصة ازاء مسعى الاكراد للسيطرة على مناطق متنازع عليها مثل مدينة كركوك النفطية الاستراتيجية التي يعتبرونها موطن اجدادهم ويريدون ضمها لمنطقة كردستان المتمتعة بحكم شبه ذاتي. There are particularly sensitive about the Kurdish bid for control of the disputed areas, such as the strategic oil city of Kirkuk, which they consider ancestral home and want to include the Kurdish semi-autonomous.
وقد تكون التكاليف الاستثمارية المبكرة للدخول الى العراق كبيرة لكن بوند يقول ان الوصول لنقطة التعادل للاستثمارات يمكن ان يكون سريعا وعلى سبيل المثال خلال 18 شهرا. Investment costs may be early to enter Iraq, but great Bond says that the access point of the investment can be quickly and, for example, during the 18 months.
June 27, 2009 by sshear01
Sure!
June 26, 2009 by sshear01
Dream that is made Reality Little by little
By: Elisier Berrios
Each one of us we hoped, we wished and we want to see fact reality our Dream. Dream of a better future of a lasting peace not only in Iraq, throughout the world. While in the world speech that badly is the things and in our single daily life we were spoken of the course that takes the economy is a place that day to day harvests a better morning, a better dawn and a terminal of years of suffering. Iraq looks for the solution all its problems that have divided it during centuries and today although little by little they begin to be united like town. The money for them never has been a problem since they are rich in Petroleum and Natural Gas. The problem of them this in essence of which it affects the entire world, the lack of tolerance and respect to the fellow.
But little by little the man will have to realize that the problem this in our attitudes and the solution this within we our self.
” A Dream that is made Reality to Little Little “it tried to give you a refresh perspective of which it happens nowadays and of which we can hope in the future. With the news, analysis and a touch of own opinion will demonstrate to them that Dream becomes Reality.
1- Iraq a rich country in resources sank in the past in conflicts that have taken to the currency more hard of the world ($4,86 by above of the Dollar) being nowadays a currency in evolution.
2-Created in a Partnership between the United States, Iraq and Great Britain our Dream begins the 15 of October of 2003.El new Dinar replaces one of the currencies of but value in the World to become which wrath evolving until returning to be the one of greater value in the World.
3-Iraq conserves the wealth that gave that high value him; now solve its division problems to obtain La Paz and a continuous prosperity.
4- A country that now practices a new political system based on the democracy and the respect to the human rights. Day to day they practice the democracy and they learn of her.
5- The new Dinar that come to more than 2000 Dinars by dollar nowadays this to 1170 dinars by dollar and the economy of Iraq follows in advance.
6- A country that by its conflicts was separated of the rest of the world through Sanctions nowadays plays the card of being able to be united to the world like a town that can contribute and to be part of the world-wide economy. Most of the countries affected and neighboring of Iraq they give the approval him so that Iraq is integrated again to the world. It is like appearing again with big drums and subjects of gossip.
7- Recently the opinion of more was seen in the UN than 15 countries to obtain that Iraq leaves the sanctions.
8- The United States gives the power him to their citizens to negotiate with any financial instrument of Iraq and such they are negotiable at the moment. It leaves my opinion there that dinar can reevaluate and be negotiated without having to leave the sanctions.
9- The Macro of an Economy: Export, Import and Inflation every day they improve in Iraq. At the moment Iraq gains more in the petroleum exports that what they won in the 1980 and its currency was $3,39 by above of the Dollar. The imports have increased since more in Iraq is consumed. The inflation this to enviable numbers of less than 2%.
10- Seemed to 2 of the greater economies of the World, Japan and Germany that their economies were devastated nowadays after World War II and they are what they are. Iraq has the money and single it must underneath remove it from the Earth and its economy is foretold like one of those of more growth in the World.
11- Contracts and auctions foretell that Iraq could or to approach the greater petroleum producer of the world next to Saudi Arabia. But Iraq I number 1 in Natural Gas and their earth and water also give the potential him of an agriculture for the region.
12- The Entire world and many countries have helped to Iraq in pardoning the debts to them so that they can improve and contribute of a great way in the Economy of the World.
The Partnership was created for a great business and single we must leave works for us. The businesses begin small and grow through time. The currencies need between 5 to 6 years to be attractive and the Dinar already has its maturity. All the indicators Macro of an economy are in line for a maintained growth and with it an improvement in which the Great currency but “of the World” is foretold. Day to day the steps occur so that the dream becomes reality and the Iraqians are a town peacefully and prosperity. Those that they have dreamed about this opportunity will see concrete in their hands and single I request to them that they solve its problems of attitudes and of being every day the best one to be human for this way the money is an aid instrument and not one of division.
June 26, 2009 by sshear01
Originally Posted by phone man
CAN'T SHARE ANY SPECIFIC NAMES OF CITIES BUT CHASE/WAMU HAD A MEETING WITH UPPER/MIDDLE MANAGEMENT ATE THIS AFTERNOON TO LET THEM KNOW THAT EVERY BRANCH FROM HEADQUARTERS TO STAND ALONE BRANCHES TO IN STORE BRANCHES WOULD BE EXCHANGING FOREIGN CURRENCY WITHIN A WEEK AND BE RECEIVING THEIR INSTRUCTIONS SOON.....KINDA A BIG COINCIDENCE WITH ALL THIS JUNE 30TH STUFF OUT THERE....JUST THOUGHT I WOULD SHARE WHAT I COULD WITHOUT GIVING PEOPLE UP.....IT'S GONNA HAPPEN PEOPLE......THE WAIT IS HARD FOR US ALL BUT WE WILL COME OUT ON TOP....HANG IN THERE.....I'M STRUGGLING MYSELF WITH THE WAIT....HAVE FAITH.......
June 23, 2009 by sshear01
The following is from another site. The person is sharing his observations.
DATES TO FOLLOW:
CBI and Treasury Bills
June 23, 2009 – Oil Minister al-Shahristani questioning at Iraq Parliament – New Post
June 29-30, 2009 – bids from International Oil Companies to be revealed
July 25, 2009 – KRG Parliament Elections
Mid July, 2009 – U.N. Security Council meeting on Iraq - New Post
August 21st to September 19th 2009 – Ramadan
October 2009 – International Compact with Iraq– Date to be Announced – Baghdad
December 7-9, 2009 Iraq Petroleum Conference London U.K.
December 31, 2009 – Development Fund for Iraq (DFI) expires
December 31, 2009 – Article Seven U.N. Charter expires
January 16, 2010 – Iraq Referendum Vote (SOFA Security Agreement)
January 16, 2010 - National Parliamentary Elections
THE IMF SBA LOAN
We are getting close but at the same time we are still far away from the IMF SBA loan for Iraq. Just yesterday in the Azzaman News just reported the Iraqi Parliament has passed the legislation to authorize the Central Bank of Iraq (CBI) to sell 2.4 Billion U.S. Dollars. This is good news and in step of what the American Contractor has been saying on the blog site for the last three weeks. T-Bills before the SBA Loan.
Azzaman News Link:
To accomplish the IMF SBA Loan the Treasury Bonds must be sold and then later the IMF SBA Loan will be accepted by the Iraq Government. I know there are groups out there that think RV before the SBA Loan or SBA Loan then RV and that's okay just that I don't agree that you need an RV before the SBA Loan. Just not going to happen. They are other pre stipulations that the Iraqi government will have to adjust before an RV will have a chance of succeeding and if you been reading the American Contractor Blog site then you already have an idea what some of those benchmarks are going to be.
AC has updated the Iraq important dates as there is two new dates listed. The Oil Minister will be front and center at the Iraq Parliament for his grilling in front of the Oil and Gas Committee just as I said in the last lengthy however, informative news letter on 20 June. If you have not read it feel free to log on and read it.
The other new Iraq important date is that the U.N. Security Council will have another meeting in Mid July 2009, to talk about Iraq and the lifting of Chapter Seven. Mostly to see what Iraq and Kuwait have agreed to with respect to each other countries and for the Kuwaiti files to be on track of getting resolved. Iraq will most likely get there monthly payment to Kuwait reduced to a lower payment from 5% to possibly 1%.
The next move on the T Bills is for the small and fragile Iraqi banking industry to step up and purchase the T Bills and assist the Iraqi government in gaining an infusion of badly needed funds to continue government services and programs. The next big thing besides the Oil Contracts coming up although as I have said don't be shocked if it is postponed, is the International Compact Iraq in Baghdad in October 2009. When I receive the actual date I will post it in the Important Iraq Dates.
RV UPDATE--------> (DON'T FREAK OUT AT THIS PART PEOPLE. HE'S ALLOWED TO HAVE HIS THOUGHTS ON THIS. EVERYONE CAN STILL CONTINUE TO KEEP YOUR OWN BELIEFS).
There is still no evidence of a shift of the Iraq Dinar currency anytime soon especially when the Central Bank of Iraq has to execute the sale of the Iraqi government 2.8 Billion Treasury Bills. You have to consider also the meeting next month with the United Nations SC. Oil Contracts, serving arrest warrants for corrupt figures, acting Trade Ministry, first 30 days of oil exporting from northern Iraq.
The U.S. Dollar is still alive and well inside Iraq. Just maybe the CBI is creating the scarcity of the dollar in order to devalue the dinar...just thinking out loud.
In my next post I will talk about the already happening pricing and 3 digits it is interesting something no one mentions any where.
More to Follow...
FROM GIZMO: ( I'M SURE OPINIONS WILL DIFFER ON THIS. THAT'S FINE.
I'M JUST 'PUTTING IT OUT THERE FOR WHOMEVER IS INTERESTED. )
June 22, 2009 by sshear01
Remember....no bashing
June 22, 2009 by sshear01
Warka Bank Rumor
A source of mine who is a Warka Rep was flown to Iraq by Warka over the past week on request from Iraq CBI representatives. At this meeting was Shabibi himself. It was explained to my source that a reval of their currency was imminent and that it was to be sooner than later.
Due to confidentiality purposes, a rate was not disclosed nor a date. There were also other factors discussed of which my source can not disclose for obvious reasons. (As one poster replied to my previous deleted post, he doesn't want to get 10-20, and your right on).
Shabibi himself requested that Warka Investors Holdings give back at least 20% of their profits at time of reval, for re-investment in Iraq's infrastructure for future long term returns. Our source advised him that he can not dictate what the account holders do with their earnings and that if it was only a reval of say 50 cents or so, there would probably be some reluctancy and a tendency to (take the money and run) if you will. It was then that Shabibi stated that "your people will not be disappointed." Meaning (in our interpretation) that the reval would be higher than that.
Our source left the meeting assuring the board that he would take this suggestion back to Warka Investors.
June 21, 2009 by sshear01
For informational purposes only .....
http://www.cbi.iq/display2.htm
The Central Bank of Iraq is responsible for establishing the value of the Dinar to be traded and is the central gold depository for Iraq.
June 21, 2009 by sshear01
For inforational purposes only .....
http://www.rafidain-bank.org/managerE.htm
RAFIDAIN BANK was a founded according to the law number (33) in 1941 and initiated its business in 19/5/1941 with paid up capital of (50) fifty thousand Dinars . the bank went through several stages during its history . first, it started as a first national bank practising commercial banking amongst several foreign banks and then it began to expand inside the country , after that it went through several merger stages since 1964 including commercial banks in Iraq which had been merged with RAFIDAIN BANK , becoming the only commercial bank in Iraq until 1988.
The year that witnessed the foundation of a mother state owned bank-Al RASHEED BANK that began its businesses with the RAFIDAIN Bank's branches that transferred all its transactions to RASHEED BANK.
In 1998 the bank witnessed a new development which is becoming a state company owned completely by the government, according to the law of state companies rules no (22) for the year (97) with target to participate in supporting the national economy in the field of commercial banking , investing monies and financing different sectors according to the developing planes and within the frame of the economical, financial and cash policies of country , the bank accepts different kinds of deposits and investing monies and cash surpluses in different investment aspects, according to the law.
Credit activity are considered one of the most important investment operations and also considered one of the fundmental factors for the bank's work and improvement.
The bank gave its directions regarding granting medium term loans for the period 2-5 years and long term loans for the period 5-10 year to citizens and companies in order to buy equipments and tools or to construct buildings for different agricultural and industrial purposes in additions to granting loan to doctors , dentists , pharmacists and engineers according to certain conditions. And also within this frame, granting facilities in the current account and commercial papers discount, etc..
This considered from the fundamental types of cash credit granted to the bank clients.
The bank is a pioneer in the field of using modern machines in Iraq represented by IT project which considered a huge scheme parallel with the prestige of the bank and its business and branches as it has actual systems covering all the activaties of the bank , mean while there is a continues developing and data renewal .
RAFIDAIN BANK has a significant contribution in developing and supporting local and government banks in the field of technical systems for banking and investment.
At the present time the bank has (147) branches inside the country in addition to (9) branches. Outside , as below :
- Cairo
- Beirut
- Abu Dhabi
- Bahrain
- Sana'a ' - Amman
- Jabel Amman
- Al Aqaba
- London
June 21, 2009 by sshear01
For informational purposes only .........
http://www.tbiraq.com/en/about
About TBI
The Trade Bank of Iraq (TBI), wholly owned by the Ministry of Finance, was established in July 2003 to facilitate Iraq's international trade and the reconstruction of the country after the expiration of the UN Oil-For-Food Program.
The bank quickly developed into a highly credible and effective organization. In a short period of time, TBI built relationships with an international network of 134 prime banks - the Consortium banks being at its core - covering 63 cities in 39 countries. This gave TBI a truly global reach, a competitive advantage and the ability to provide a diverse range of services. By the end of 2007 TBI was fully capitalised at over US$100million and had total assets of over US$6.1billion.
An early success was signing agreements with 17 of the largest Export Credit Agencies around the world. Another was the fact that TBI was one of the first Iraqi banks to receive lines of credit from major international financial institutions.
TBI has a sound credit policy in place, and among the many other 'firsts' the bank can claim is the introduction of Iraq's first fully automated online banking system, being the first Iraqi bank to issue VISA credit cards, and the development of the first nationwide network of ATMs in the country. TBI is also the most experienced Iraqi bank in the issuance of Letters of Credit and Letters of Guarantee.
Building on its early success, TBI is now introducing modern, innovative products and services to the Iraqi market. These include Project Finance, Salary Accounts, Saving Accounts, and Credit Cards.
June 21, 2009 by sshear01
For informational purposes only...........
http://www.warka-bank.com/
Warka Bank for Investment and Finance is one of the largest financial institutions in Iraq, with a network of 120 branches and 350 ATMs located all over iraq , with strong and growing banking services. The bank was established in 1999 and now it is considered by the central bank of iraq and the other financial organizations as the first private bank in Iraq.
Warka Bank for Investment and Finance is mobilizing its substantial capital to take a cutting edge role in Iraqi finance.
The bank has emerged as a lead financier,participating in many sectors such as power , water s , communication , construction and many other sectors concerning the reconstruction of new Iraq.
For the sake of greater customer convenience, our full service approach is delivered through an accessible network of more than 120 branches covering all Iraqi governorates. Additionally, our e-channel services use the latest electronic technologies to bring banking into our customers’ homes such as . Internet, mobile phone banking services and sms banking services and our ATM’s with more than 350 ATM .
The bank has professional staff ready to serve our respected customers in all banking fields to face the growing demand on trade finance services (LC’s & LG’s) and all other banking services.
June 21, 2009 by sshear01
Warka Internet Banking System-New Options
I was at the Warka Bank today and while waiting in a line of 20+ people I was told that Warka will have updated links on the Internet Banking System that will allow us to track our stock!!!! He says he has inside information that these options will change everything including sending emails to order stocks. Everyone is excited here for the ISX!!!!! He also stated that you will be able to see all the other banks in Iraq. I do not know the meaning that statement. He said it should be complete by 20JUN09. We will see!! Everyone here says Warka is about to up the ANTE, Buy Warka!!!!!!!!! Sorry if this has already been posted.
Sniper
June 21, 2009 by sshear01
government hopes will reduce inflation and strengthen the dinar.
Iraq Central Bank to issue treasury bills worth $2.4 billion to finance electricity contracts
The parliament has authorized the Central Bank to issue treasury bills to raise $2.4 billion for the Ministry of Electricity, a parliamentary source said.
The source refusing to be named said the money will be specifically used to finance contracts by the ministry to boost power supply in the country.
Power output is still below pre- 2003-U.S. invasion rates despite the funneling of billions of dollars into the national grid.
The bills will be sold on domestic markets and investors are promised an interest rate of at least 2% and the possibility of recouping their cash in one year.
Iraqi private banks will have the chance to take part in issuing the bills.
The money raised will be in local Iraqi currency the dinar and the Central Bank will deposit it on behalf of the Electricity Ministry in dollars.
The decision will effectively suck huge amounts of money out of the system in the country – a move which the government hopes will reduce inflation and strengthen the dinar.
At current exchange rates the sum of $2.4 billion is worth 2.8 trillion dinars.
http://www.azzaman.com/english/index...-20%5Ckurd.htm
