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Chaos in Iraq has come to an end
Friday, February 12, 2010 08:33 GMT
Iraqi Prime Minister Nuri Al Maliki held a meeting with dignitaries from Al Shaab District in the presence of Cabinet spokesman Ali Al Dabbagh.
Al Maliki stated that chaos has come to an end and stressed that the State, the law, the Army and the Police are all today in service of the Iraqi people.
Iraqi Prime Minister stressed the necessity to support the government and help the nation through elections.
The country is still targeted; Al Maliki added urging all Iraqis to cast their ballot while confirming the people’s attachment to national principles.
http://www.alsumaria.tv/en/Iraq-News...to-an-end.html
Iraqi Election Campaigning Begins
February 12, 2010
BAGHDAD (AFP) — Official campaigning for Iraq's March 7 general election started on Friday in a tense atmosphere overshadowed by angry demands from provincial leaders that workers linked to Saddam Hussein be fired.
Political party activists pasted up posters across Baghdad, adding to those that had been placed illegally at prominent billboard sites across the capital in recent weeks in an attempt to steal a march on election rivals.
The run-up to the campaign has for weeks been dominated by the legacy of executed dictator Saddam and his Sunni Arab former elite which continues to loom large, almost seven years after he was ousted in a US-led invasion.
A row over election candidates accused of vicarious ties to Saddam's outlawed Baath party has left the country's dominant Shiite majority anxious to extinguish every trace of his influence, fanning tension among Sunnis.
An integrity and accountability committee announced late Thursday that 28 of 177 candidates banned from the vote for alleged Baathist links would be allowed to stand after all, a small proportion of more than 500 originally blacklisted.
Two Sunni parliamentary stalwarts, Saleh al-Mutlaq and Dhafer al-Ani from the secular Iraqiya list of former prime minister Iyad Allawi, are among those who will remain barred.
Allawi and fellow secular list leader Jawad Bolani, currently the war-torn country's interior minister, who are both trying to unseat Prime Minister Nuri al-Maliki, a Shiite, were the worst affected by the ban.
Around 19 million people have the right to vote, including 1.4 million Iraqi citizens now living abroad in 16 countries, according to election organisers.
A total of 6,500 candidates will contest the ballot in an election that will feature 10,000 polling stations and 54,000 ballot boxes, according to Iraq's Independent High Electoral Commission (IHEC).
The vote, the second parliamentary ballot since Saddam was toppled, is seen as a test of reconciliation between the Sunni minority dominant under Saddam and the Shiite majority represented by Maliki's government.
A panel of judges had previously said that barred candidates could stand but that they would examine their files after the polls and would eliminate them if they were found to be Baathists, but this ruling was reversed.
Tension between Shiites and Sunnis, however, was underscored by demands from political leaders in central and southern provinces that Baathists be purged from public office.
The deputy governor of Babil province, a brigadier general in Saddam's army, has been told to stop work and been put on leave.
"We decided to stop the work of the first deputy Eskander Wetwet, and give him a one month vacation, because he is included in the decisions of the ministers council to eliminate all officials who were active members in the Baath party," said Babil governor Salman al-Zargani.
In Dhi Qar province, three high-ranking officers from the security forces have been sacked, a provincial council official said.
"Two of them were colonels in the former Iraqi army, and the third was a lieutenant colonel in the police," the official said. "They were active members in the Baath party."
And in the central province of Karbala, lists of people to be fired from their jobs have been drawn up.
"We started to form an accountability and justice committee, following public demand, and we will implement the law by eliminating Baathists from the departments of the province," said Karbala governor Muhammed al-Mussawi.
"We will inform the department directors, giving them a list of names whom were part of the Baath party and providing supporting evidence," he added.
AFP
http://articlesofinterest-kelley.blogspot.com/2010/02/february-12-2010-iraq-election-campaign.html
2010 U.S.- Islamic World Forum
Qatar, February 13-15
Writing the Next Chapter Doha,
The U.S.-Islamic World Forum is now in its seventh year. This year's program features a wide range of experts from the United States and the Islamic World. Scheduled participants include U.S. Secretary of State Hillary Clinton, Turkish Prime Minister Recep Tayyip Erdogan, Chairman of the U.S. Senate Foreign Relations Committee John Kerry (D-MA), Malaysian opposition leader and parliamentarian Anwar Ibrahim, and U.S. Special Representative for Afghanistan and Pakistan Richard Holbrooke.
Last year's Forum, seen at left, boasted an excellent cadre of influential speakers and participants from over 30 countries, including David Petraeus, Barham Salih, Madeleine Albright, and Keith Ellison.
U.S. Secretary of State to address the U.S.-Islamic World Forum
Press Release: U.S. Secretary of State Hillary Clinton to Address the Seventh Annual U.S.-Islamic World Forum
Submitted by The Doha Network on Fri, 02/12/2010 - 06:14
Brookings’ Saban Center and the Government of Qatar to Host Turkish Prime Minister Recep Tayyip Erdogan and U.S. Senator John Kerry
Washington, DC – U.S. Secretary of State Hillary Clinton will join H.E. Sheikh Hamad bin Jassim Al-Thani, Prime Minister of Qatar, in addressing the Seventh Annual U.S.-Islamic World Forum, held in Doha from February 13 through February 15. President Barack Obama, speaking via video, will send a special message to the annual gathering of U.S. and Muslim world officials. Addressing the opening plenary session will be Turkish Prime Minister Recep Tayyip Erdogan and U.S. Senate Foreign Relations Committee Chairman John Kerry. U.S. Special Representative for Afghanistan and Pakistan Richard Holbrooke will also speak to the Forum.
The U.S.-Islamic World Forum, organized by the Saban Center for Middle East Policy at Brookings and the Ministry of Foreign Affairs of Qatar, brings together leaders from across the Muslim world for an intensive three-day dialogue with key U.S. officials, societal leaders, and policy experts.
“With President Obama determined to turn the page in America’s relations with Muslim communities around the globe, this year’s Forum will examine how to craft more robust partnerships that can help repair the deep divisions our societies” said Strobe Talbott, President of the Brookings Institution, who is also attending this year’s Forum.
Established in the wake of the 9/11 terror attacks on the United States, the Forum has built meaningful networks of American and Muslim representatives across the societal spectrum from arts and culture to science and technology, business, education and religious leaders in more than thirty countries. In this way, the Forum has become a unique convening opportunity for cross-cultural engagement among the public and private sectors from the United States and the Muslim World.
This year’s U.S.-Islamic World Forum, entitled “Writing the Next Chapter,” will focus on the new opportunities created by the changing global political and economic landscape and the promise of President Obama’s pledge to build new bridges to the Muslim world. The 2010 Forum’s working sessions will discuss how to build on the Obama administration’s “fresh start” with Muslim communities around the globe, the potential for strengthening private and public sector partnerships, and how to deal with the security challenges posed by terror groups operating in fragile states in the Muslim World.
“With a new American president, we have an opportunity to turn the page in America’s relations with Muslim communities around the globe. In keeping with the spirit of the President Obama’s Cairo speech, this year’s Forum will look at the question of how we craft more robust partnerships that redound to the benefit of all,” said Stephen Grand, co-convener of the Forum and the Director of Brookings Project on U.S. Relations with the Islamic World.
Much More @
www.dohanetwork.org/
http://articlesofinterest-kelley.blogspot.com/2010/02/huge-february-13-15-welcome-to-2010-us.html
After my initial DD I hoped and planned on a future rate for the
IQD of .30 cents with a projected loss via taxes and fees of 45%.
All of my planning has been based upon the .30 cent rate with the
45% loss so anything higher than .30 cents is just cream!
I only hold IQD as 5% of my investment portfolio because it was such a speculative play back in 06 and thank God for us things seem to have all worked out and it appears that democracy and free market economy have taken hold in Iraq.
My 5% will be a very nice return that will be life changing even if the rate only meets my initial goal of .30 but it appears we may see this thing hit at well over that mark to come in at or just above $1.
GO DINAR!
IQD in @ .0009 HOLD!~
Thanks again ema!! Man I hope your right!!
Luv yours & everyone's DD!!
Where's the party going to be?
Ema, i'm going to send you a big present once it does happen :) Can i ask how much you are holding, and if so confident do you plan to buy more in the upcoming months? making me think i need more~!! Greed is for fools though i'll pry just sit pretty where i am GLTA
Yes very confident. eom
IQD in @ .0009 HOLD!~
there's always Monica ?????
so, are you confident that if I have a current 250 dinar note, that between now and next year it will be worth approx. $250 USD ?
Yes. He seems to be fine and had 2 stints placed and is doing well or so it is reported.
So I see no reason why she would not do her duty as Secretary of State if he is stable and doing well.
IMHO
Bill's in the hospital, had surgery as well, think she'll still perform?
Will Obama visit Baghdad next week?
Obama will be in the Middle East...will he also do a suprise trip to Baghdad?
12 February, 2010
Obama heads for Qatar to boost ties with Muslims
US President Barack Obama’s charm offensive on Muslim states comes to a weekend forum in Qatar, where he will send a video message and his chief diplomat will give a speech, organizers said Thursday.
Obama will deliver his message to the seventh annual US-Islamic World Forum in the Qatari capital, which Secretary of State Hillary Clinton will attend Sunday with other senior US officials, The Brookings Institution said.
The gathering organized by the think-tank’s Saban Center for Middle East Policy and Qatar’s foreign affairs ministry brings “leaders from across the Muslim world for an intensive three-day dialogue with key US officials, societal leaders and policy experts,” Brookings said.
“With President Obama determined to turn the page in America’s relations with Muslim communities around the globe, this year’s Forum will examine how to craft more robust partnerships that can help repair the deep divisions our societies,” Brookings President Strobe Talbott said in a statement.
Talbott, who was a key diplomat in president Bill Clinton’s administration, is also due at the forum, along with Richard Holbrooke, the US envoy to Afghanistan and Pakistan and Senate Foreign Relations Committee John Kerry.
Brookings said Clinton will join Sheikh Hamad bin Jassem al-Thani, the prime minister of Qatar who doubles as foreign minister, in delivering a speech, but no further details were immediately available.
The chief US diplomat is due to arrive in the tiny Gulf state of Qatar on Saturday, where she will also hold talks with the emir, Sheikh Hamad bin Khalifa al-Thani, and leave for Saudi Arabia on Monday, the State Department said.
At the 2008 US-Islamic forum, delegates voiced support for then-presidential candidate Barack Obama, although some warned against expecting any radical policy change should he win the White House.
A year into his administration, Obama has yet to achieve any significant momentum on stalled peace talks between the Palestinians and the Israelis, and Muslim audiences are now less receptive to his promise of a “new beginning” with the Muslim world.
The visit to Qatar would complement the Obama administration’s efforts to improve ties with the Muslim world.
In his inauguration speech last year, Obama vowed to seek a “new way forward” with the Muslim world “based on mutual interest and mutual respect,” after eight rocky years under his predecessor George W. Bush.
Agence France-Presse
http://articlesofinterest-kelley.blogspot.com/2010/02/obama-heads-for-qatar-to-boost-ties.html
Clinton to Visit Baghdad Next Week
February 11, 2010
Weights Clinton visit Baghdad next week
????? - ?????? BAGHDAD - morning
Knowledgeable sources said that the U.S. Secretary of State Hillary Clinton's visit to Baghdad at the end of next week. The sources said in a statement to the "morning" is scheduled to visit the Gulf region, Clinton middle of next week
He noted that U.S. Secretary of State Starj during her trip to Baghdad. It is said that U.S. Secretary of State has visited Baghdad twice last year, I looked through them with the President and the Prime Minister and Chairman of the House of Representatives several important issues, and agreed to speed for activating the strategic framework.
The sources confirmed that Secretary Clinton will discuss the elections in Baghdad, file and will emphasize Washington's support for the political process without interfering in the internal affairs of the country.
As part of the connected, met with Deputy Foreign Minister, Iraq's, Robert Ford, a political ambassador the U.S. Embassy in Baghdad. During the meeting, according to a statement received "morning" a copy of it, discuss ways to develop relations between the two countries in light of the strategic framework agreement and to assist states and ...
Washington in the search for Iraqi antiquities, in addition to addressing the United States to support Iraq in its quest to emerge from Chapter VII.
Clinton, Maliki form Chapter VII committee
http://articlesofinterest-kelley.blogspot.com/2010/02/us-secretary-of-state-hillary-clintons.html
It means 1 IQD will be at or near $1 or slightly above.
Which means 1 million IQD will = 1 million USD or slighly more.
"Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal."
So 1 IQD will be offset or slightly MORE than the dollar.
Sparkplug...at least we can get our money back!! It's better than losing I suppose!! Or NOT the millions... we had all dreamed!!
Bummer in a way!!
Time will tell!!
Best of luck to all!!
This board is for the study and DD of the Iraqi Dinar and all views are welcome but lies, rants and personal attacks on anyone violate the TOS.
Yes people are free to share their views on Iraq and the Iraqi Dinar but people are not free to tell lies, slander or bash other members.
Stay on topic.
And by the way...most of those post were deleated by Ihub admin not me.
Transfer Oil Wealth to Sustainable Wealth
11/2/2010
Oil Minister: We have a long waiting time for the Iraqis and benefit from its vast oil wealth
Conscious / n. ? X
Oil minister , Hussain al-Shahristani said that Iraq is entering the next six years to be at the forefront of the world in production and export of crude oil, so when approaching rates of oil production capacity from / 12 / million barrels per day, using items in the international oil companies.
Shahristani said in a press statement "has been a long wait for the Iraqis, and the time to benefit from its vast oil wealth and the transfer of revenues to the giant projects in all fields of industry, health, agriculture and the rehabilitation and reconstruction solving the problems of the housing crisis."
Shahristani said "enough of Iraq's oil all Iraqis and will be a meat and not a sectarian conflicts, we are currently setting up an investment fund for future generations, such as many countries in the world as we work to transform oil wealth to sustainable wealth through the use of future income in the implementation of projects big and important."
And al-Shahristani, "Iraqi investments in the oil and gas would not reflect negatively on the stability of oil in the international market.
Explaining that "Iraq has drafted a paper will be submitted to OPEC next year for the development of controls to determine the quotas.
And went on saying that "Iraq policy is not to maximize revenue and maximize production and to seek justice in the distribution of quotas in the OPEC."
The Iraqi Oil Ministry signed since mid-last year and until January last ten oil contracts, according to the system of service contracts in the context of licensing rounds of the first and second oil fields to invest in order to raise the production ceiling to more than 12 million barrels per day by these companies ..
http://articlesofinterest-kelley.blogspot.com/2010/02/oil-minister-shahristani-transform-oil.html
Great DD Sparkplug.
Man we are getting closer by the day!
Weak hands fold.
Stong hands HOLD!
IQD in @ .0009 HOLD!
Iraq will be model of Democracy
Iraqi Prime Minister will be the model for countries in the region of freedom, democracy, justice and peaceful coexistence among its citizens and its neighbors and the world
Voice of Iraq) - the name of God the Merciful
??????? ?????? The Republic of Iraq
????? ??????? Prime minister
???? ???? PRESS RELEASE
11/2/2010
Prime Minister Nuri Kamal al-Maliki: Iraq will be a model for countries in the region of freedom, democracy, justice and peaceful coexistence among its citizens and its neighbors and the world
Said Prime Minister Nuri Kamal al-Maliki during a meeting with a collection of people from the people of Baghdad that Iraq would be a model for countries in the region of freedom, democracy, justice and at the level of peaceful coexistence among its citizens and relations with neighboring countries, which should be based on mutual respect, common interests and non-interference.
The sovereignty: that Iraq is ready after starting construction projects and companies got Alastosmaralaalmip and returned to his international standing, and the people to stand by the State and government in political participation and go to elections and maintain the achievements made in security, political, economic, and not one has the right to deny any Iraqis share in the hundred and oil and wealth in the partnership and the enjoyment, not as he did the previous regime, which punishes relatives of the sentenced to the fourth degree.
Continued Mr. Prime Minister: The State today is a citizen who chooses it and change the government and gives it power and keep it under the accounting and the new experience we must preserve it, and I reassure the Iraqis that to invade and Asito and Aanqlab and no return to the last remnants of the dictatorial regime Ksif hanging on the necks of the people and Abyan number one only the statement written by the people silently when he goes to the polls and choose and write a rant when deviating ruler noisy demonstrations, Iraqis turned out when they felt that there might be infiltration to the legislature, leading to the popular revolution in Aincef of people in the rights and duties, political Aljaddedid Our system works to serve the citizen, the soldier and the policeman and a security serve the people and be held accountable if it harmed any citizen, and all these achievements must be preserved and protected.
Mr. Prime Minister: that chaos can not build a country it is the opportunity for the killers and looters to be princes of you as two years ago LACK they insult the honorable and the scientists and intellectuals, competencies, and university professors, and kill them, and also insulted the religious leaders and preachers, and the chaos of Atantj respectable society and in its shadow can not provide and development of services and can not operate businesses, we have experienced over the previous period of chaos and lawlessness and gangs that occupied the entire cities, but we thank God we can eliminate them and we were able to achieve security and stability and the signing of oil contracts transparent shook the world and will bring an economic boom and a gradual turn Iraq into the country source in the world during the first six years and these contracts will be reflected on the economic conditions and services and all aspects of life.
He continued sovereignty: that the policies and adventures and crimes of the regime at home and wars with neighboring countries left us with a significant shortfall in services and many tragedies, neglected agriculture, industry, oil wealth and has been dashed by the purchase of receivables, and enter the al-Qaeda to Iraq and provided a haven before the fall, and have created a slaughter are the Baathists and their leaders who did not apologize today for heinous crimes against the Iraqi people, and the regime of dictator applauding him lose his cause of Iraq's sovereignty when foreign intervention once directed the State of Kuwait, which once conquered it down, who signed a humiliating Safwan, and was preparing his drummers all victories, defeats Even when the teams entered the palace inspections and when foreign troops entered Iraq.
The Prime Minister warned of a return to sectarian militias and Al Qaeda and that the returned because it would be tougher than it was, therefore maintaining the security and stability achievements great responsibility, and the postponement of the elections that he was talking about some people can enter the country in a vacuum and chaos, could not control, as warned of vote-buying by some financiers from abroad because they are selling to the homeland, losing their dignity and development opportunities in the future.
He called on Prime Minister the need to go to elections to repair deficiencies and anomalies in the building and the political system and the services and to protect the dignity of citizens and to prevent interference in the affairs of Iraq.
Information Office of the Prime Minister
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.sotaliraq.com%2Firaqnews.php%3Fid%3D57893&anno=2
That article used Turkey (and its time frame)as reference.*** Turkey-presidential order to lop the zeroes was issued Dec 2003- and lopped the currency Jan 2005- decision to execution took approx. 13 months. So he says they want to do it quickly.
It would be nice to see this come to fruition in months to come. There are different interpretations abroad and nobody knows how it will play out. That article says the value of the dinar will be at or slightly above 1 US. Well it looks like its come down to just doing it now. As we all know, none of us really know which way its going to go except we know its going to go 1 of two ways- Either you will turn in your 25K note and get 25K dinar of lower denom's back at a different value, or you turn in the 25K note and get back 25 dinar worth 25 US or slightly more like the article states.
So worst case scenario- 1,000,000 dinar worth $855.00 now turns into 1000 dinar worth a grand or bit more
WHICH WAY WILL SHE GO? Is the million dollar question.
From a friend
There have been a tremendous number of inquiries about the recent news that Iraq will be increasing the value of their currency and, at the same time, introduce new denominations into the Iraqi economy sometime in 2010 (currently planned). Specifically, it has been reported that the Iraq Finance Minister issued a statement saying they have prepared a plan to increase the value of the dinar against the dollar and will introduce 25, 10, 5, 1, 1/2, ¼, and smaller (possibly 1/10 or 1/20) dinar banknotes and/or coins. He said that successful fiscal policies pursued in Iraq have contributed to increasing the value of the Iraqidinar against the dollar, noting that the U.S. Dollar dropped significantly in value during the current year. Of note, he also said in a press statement that the bank has been following with great interest the phenomenon of low demand for the U.S. Dollar in the local Iraqi currency exchange markets.
Please click here to find out what the Iraqi Dinar Redenomination means for you.
Sincerely,
The Dinar Banker Team
Gambling on Iraq Currency
Grant Stinchfield, NBCDFW.com
Some North Texans are buying up Iraqi currency, the dinar, in hopes of striking it rich.
http://www.nbcdfw.com/station/as-seen-on/Gambling_on_Iraqi_Currency_Dallas-Fort_Worth.html
I have been thinking about this statement and it would make sense that the total cash in ciculation won't change from the news, but it might change hands? As for as the dealers go, yes they probably all are sitting full of dinars, but in the mean time probably make a sweet living selling without risking their own stockpiles? does anybody have any thoughts on this?
Yes... one of the new dinars. One that you will have to give 1000 of your dinars to get. Hence lopping 3 zeros.
And also no change in value from what you have now.
Heads UP! CBI has updated their web page!
CBI http://www.cbi.iq/
From that link....
"Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal."
So 1 IQD will be offset or slightly MORE than the dollar.
From that link...
"This proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries"
It is not an increase or a decrease in the value of the dinar, it is just removing zeros.
Well as far as I can tell from all of the people who have asked the IRS and other tax officials it will be a capital gain.
But for you that will be long term so a fixed 15% is not bad IMHO.
When?
Well with all of this great news out and all of the disclosure from the government of Iraq it may be very soon.
The United Nations Security Council is meeting this weekend to address the removal of Iraq from all chapter 7 sanctions.
Also we have Hillary Clinton going to Iraq next week to work on economic ties and agreements between Iraq and the US.
So I say anytime between now and the end of this year.
But with all of this positive news it would seem we are very close.
sorry that DOWNLOADED COUNTLESS pages and did not help.thanks anyway.
I purchased in Iraq from CBI in 2006, and so how are they going to know if i go exchange? I'm not for pulling tax fraud, at the same time i don't want to just claim it if not neccesary. i thought there wasn't capital gains tax on currency exchange. Thanks for everything ema, and when would this take place in your opinion. Will it be announced? Thanks again ema
UPDATED: Iraqi Finance Minister Statement
Here is the link:
http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/local/54531.html&rurl=translate.google.com&twu=1&usg=ALkJrhgZ6OegYmbL4jD6XFEId2pr93L3Vg
You will either have to sell on e-bay to people who don't understand what is happening, or you will have to sell back to a dealer for substantial fee.
Those are the two best options.
You might be stuck with worthless paper.
Cashing in your IQD investment.
As soon as the announcement is made that the official exchange
rate for the IQD has been set we may well see instructions in the
media in the form of a PSA (public service announcement)
instructing the public on the redemption of the Iraqi Dinar
investment notes.
It appears from the articles we are seeing that a time limit on
redemption will be set and that appears to be the end of this
year, no later than December 31st 2010.
Redemption of our Iraqi Dinar Investment notes will be done at
the major banks in the U.S.
It is rumored and reported that these could possibly be the following:
Chase Bank.
Bank of America.
Citi Bank.
TD Bank.
Wells Fargo ( selected branches).
5th 3rd Bank.
Compass Bank.
HSBC.
Now it is being reported that there are currency dealers who also
will be doing exchanges of the Iraqi Dinar.
I personally will use and support my local bank and have not nor
never will plug for any private currency dealers.
We at one time upon starting this board had a generic list of
currency dealers listed on the I-Box above that was placed there
by one of the moderators who is no longer with us.
I removed all currency dealer information from the I-Box weeks
ago upon find that it was still there.
We do not nor never have promoted any personal currency exchanges
and will never do so.
So that is it...we should soon see upon the announcement of rate
changes complete instructions for IQD investment note redemption
at out local banks and that information will be posted here on this board.
~Best of luck to ALL!~
ema -266
IQD in @ .0009 HOLD!
I would like to see the Offical site where this NEWS came from. Mostly I see things carried over here written by an Investor or Dealer. WHERE iss the offical NEWS SOURCE LINK.Knowing How Iraqi People speak is TOTALLY different from some of the pieces put on this Board. Thanks . No Disrespect intended to anyone.
ema, do you have any idea how we will most likely redeem or cash in our dinars when this happens as you describe? Normally after a reval and/or redom how do people outside of the country trade-in or cash-in their funds? What happened in Turkey after they adjusted their currency? Will American banks be an option? I purchased all of my dinars at Chase Bank before Chase stopping offering them. Do you think once the reval happens that Chase would again start dealing in dinars?
Where do I go to read this article in it's original forn.Then I can Interprite it's meaning for myself. thank you
HOT! Final PROOF! No LOP! RV Coming!
Overnight revaluation coming to the IQD at or just above the dollar!
1. lifting of the zeroes of the currency will support the currency against the dollar
Another confirmation. key points in red..
Conscious / Baghdad / G. E
11/2/2010 3:51 pm
Finance Minister Bayan Jabr said the lifting of the zeroes of the Iraqi currency will support the currency against the dollar.
Zubaidi, in remarks quoted by reporter (news agency, Iraqi Information / conscious) that this proposal by the Ministry of Finance to the Central Bank of Iraq was not affected increase or decrease but it is just delete the zeros vocation not only the case in many countries Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal.
According to an official source at the ministry The proposal to raise three zeroes from the currency will be in accordance with the right monetary policy is not gradual, as happened in Turkey and this policy will raise the monetary value of the Iraqi currency and will of the Iraqi dinar Strength of cash against all currencies.
translate.google.com/translat...ate.google.com
Note: As you can see stright from the Iraqi Finance Minister this will NOT be gradual which means it will be an overnight revaluation and the dinar will be near or slightly MORE value than the dollar!
So who do YOU trust?
Lopsters like Areospace or the Iraqi Minister of Finance?
Go DINAR!~
IQD in @ .0009 HOLD!~
LOL... ok... I'll ask. If that's not a lop, then what is it?
Can you please tell us what a redenomination is?
Apparently this redenomination will be different than the other 100 or so redenominations that have happened. It will be different than Turkey, Russia, and Brazil, which they used as examples.
Tell us please, what will happen?
NO LOP! Right from Iraq!
Reported TODAY in Rueters new service!
BAGHDAD, Feb 11 (Reuters) – Iraq expects to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to facilitate currency transactions, a central bank official said on Thursday.
Emerging from years of war and sanctions, Iraq is trying to revamp its economy and boost oil production with a raft of crude deals that may vault it to one of the world's top oil producers.
"The goal is to improve the payment and receiving system in the country and consequently to reform cash management," said Mudher Kasim, a senior advisor at the central bank.
Iraqi payment systems rely almost exclusively on cash.
Kasim said that the central bank expected to start rolling out new notes by the end of the year or the beginning of 2011. Iraq has 25 trillion dinars in circulation, officials say.
An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said.
The local unit is managed through foreign exchange auctions, and traded hands at 1,170 per dollar at the last sale.
(Reporting by Aseel Kami; Editing by Jack Kimball and Toby Chopra) Keywords: IRAQ CURRENCY/ (jack.kimball@thomsonreuters.com; +964 7901 917 033; Reuters Messaging: jack.kimball.reuters.com@reuters.com)
http://www.iii.co.uk/news/?type=afxnews&articleid=7747130&subject=markets&action=article
This is how it was explained about a year ago.
The Central Bank of Iraq Central Bank of Iraq Central Bank of IraqCBI Iraq | Financial Services News | Profile | Officers » Research
has taken steps to rebase the Iraqi dinar and issue new banknotes, a senior official at the bank said Tuesday.
"We have reached a conclusion that we should take off three zeroes from the current Iraqi dinar banknotes," Mudher Qasim, the bank's senior advisor, told Dow Jones Newswires in an exclusive interview.
"The process is progressing and we have taken some steps," Qasim said. "We will issue a decision in due time."
Qasim didn't give a timeframe when that decision would be taken, but said printing new banknotes and fully replacing old notes would take two years from the time the decision is taken.
Iraqi Finance Minister Bayan Jabor said his ministry had suggested to the central bank to take off three zeroes from the current Iraqi dinar banknotes. "The Central Bank Governor (Sinan Al-Shabibi) has informed me that the bank is in the process of taking that decision," Jabor told the state-run al-Iraqia Satellite Channel Monday.
"The Central Bank of Iraq Central Bank of Iraq Central Bank of IraqCBI Iraq | Financial Services News | Profile | Officers » Research
supports what the finance minister was saying," Qasim said.
If the rebase decision is taken, it means a current 25,000 Iraqi dinar banknote will become IQD25, for example.
Tuesday, the Iraqi dinar traded at IQD1,200 against the dollar, according to a trader in Baghdad. When three zeroes are knocked off the Iraqi dinar, a dollar will equal only 1.20 dinars.
Currency rebasings are usually monetarily neutral and are introduced to make commercial calculations and cash dealing easier and cheaper. Turkey knocked six zeroes off its lira currency Jan 1, 2005, for example. Russia did the same for its currency. "In a country like Iraq where cash consists 80% of money dealing, we need smaller bank notes," Qasim said, adding that current Iraqi banknotes were difficult to store and need strict security measures when moving money from one place to another.
There are now some 20 trillion Iraqi dinar banknotes in use in the market, which is a very big amount and if Iraq knocked 3 zeroes it would become IQD20 billion which is a reasonable amount, he said.
Qasim also said one of the reasons for rebasing the Iraqi dinar is because the bank has managed to reduce the country's high rates of inflation. The inflation rate fell to 14.7% in May this year from a record high of 60% in late 2006.
In July 2004, the now dissolved U.S. civilian authority in Iraq decided to print the current Iraqi banknotes replacing those used to bear the picture of the former Iraqi leader Saddam Hussein. Iraqis then had three months to swap their old dinars with the new ones.
"This time we aren't in hurry, if it takes two years to swap the new currency with the old one, then let it so," Qasim said.
The current banknotes were printed by Britain's De La Rue Plc (DLAR.L), the world's biggest commercial printer of bank notes.
Jabor said in November last year that the central bank would rebase the dinar in early 2008.
-By Hassan Hafidh; Dow Jones Newswires; + 962 799 831 831; hassan.hafidh@dowjones.com
(END) Dow Jones Newswires
19-08-08 0720GMT
Imagin that. A dinar dealer that doesn't understand REDENOMINATION.
The new currency will have a new value.
The current currency will continue to have the same value it has now, it will simply become invalid at the end of the exchnage period.
Iraqis will be able to exchnage 1000 current for 1 new... therefore lopping 3 zeros from the currency.
That is how Turkey, Russia and Brazil did it... and they have used those countries as an example of what they will do.
Not only is that how those 3 countries redenominated, it's how EVERY country that has ever redenominated has done it.
Only difference is the amount of zeros.
Iraqi Dinar Redenomination and Exchangeability There have been a tremendous number of inquiries about the recent news that Iraq will be increasing the value of their currency and, at the same time, introduce new denominations into the Iraqi economy sometime in 2010 (currently planned). Specifically, it has been reported that the Iraq Finance Minister issued a statement saying they have prepared a plan to increase the value of the Dinar against the dollar and will introduce 25, 10, 5, 1, 1/2, ¼, and smaller (possibly 1/10 or 1/20) Dinar banknotes and/or coins. He said that successful fiscal policies pursued in Iraq have contributed to increasing the value of the Iraqi Dinar against the dollar, noting that the U.S. Dollar dropped significantly in value during the current year. Of note, he also said in a press statement that the bank has been following with great interest the phenomenon of low demand for the U.S. Dollar in the local Iraqi currency exchange markets.
Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, said by the end of 2010, new banknotes will be fully introduced while the current banknotes will be gradually removed from circulation. He did not specify when the new banknotes would be issued. Both (current and new) denominations will be legal tender in Iraq until the current banknotes are completely withdrawn over a period of time.
Economic analyst Hilal al-Tahhan was quoted as saying, “The bank's move is overdue.” He said he expects the currency change to go smoothly because of the decision to allow both the current and new banknotes to coexist during an extended exchange period, leading to less turbulence in the economy.
What does all this mean? Overall, this news appears to be very positive and possibly points to some significant changes in the value of the Iraqi Dinar. It has long been the opinion of many Iraqi Dinar investors that the Iraqi Government must introduce new lower denominations into their economy before the value of their currency increases. If the value (buying power) of the dinar increases significantly or rapidly, the larger denominations currently in circulation would be impractical for use during everyday transactions in the Iraqi economy. If the Iraqi Dinar increased in value to 10 cents (.1 USD), the smallest banknote in Iraqi would have a value of $5 USD. There would no practical way to purchase everyday items in the economy and no way to make change---the currency would be impractical and unusable. If a soda in Iraq has a value of 50 cents now, it will still have a value of 50 cents if the value of the Dinar increases, and there has to be a denomination in the Iraq economy to pay for it. The current problem is that Iraq doesn’t have any currency in circulation to pay for normal day-to-day products if the Dinar rises significantly in value, so Iraq must have smaller denominations moving forward.
Also from the recent news, it appears as though all denominations (current and soon to be issued) will be in circulation at the same time and no immediate exchange will be necessary. Hopefully, the Iraqi Dinar will be on the world exchange market soon to allow for even easier exchange in the near future. Expectations are that Iraq is moving as fast as they can to rebuild their economy and wealth, and join the international economic community.
There have also been rumors about the future exchangeable value of some current Iraqi banknote denominations, and limited time periods for exchange of current Iraqi banknotes. It has been falsely rumored that perhaps the 25,000 Dinar banknote will be exchanged at a different exchange rate than current smaller Iraqi banknotes. Another false rumor suggests there will be a very short period (days or weeks) of exchange for the current Iraqi banknotes after a significant change of value and introduction of lower denominations.
To address these rumors, let’s look at currency from a basic level: Countries issue their own currency. They issue their currency with a responsibility to honor it and redeem it. The currency must be accounted for. When a country issues currency (the US as an example), they borrow against the currency and issue debt to support it. The U.S. recently printed a significant amount of currency in order to finance stimulus funding. In order to do this, the U.S. government had to borrow the money with an obligation to pay it back.
One of the main functions of the U.S. Treasury Department is to manage the U.S. national debt (the amount of money which the federal government owes to its creditors). China owns much of our debt as do U.S. citizens and other countries---we must honor our issued currency and our debt. If a country doesn’t honor its debt, creditors (other countries and investors) lose faith in the defaulting country and a country will end up in financial ruins. Iraq, as a responsible member of the world economic community with a goal of getting their currency online with the rest of the world currencies, has issued currency with an obligation to honor it----all of it---not just certain denominations. Throughout modern history, there has not been one instance where a country honored some denominations, but not others. If certain denominations were not valued, people and other countries would lose faith in that country's responsibility to respect their debt and honor their issued currency. If a nation only valued certain denominations, who would trade with them, exchange with them, or conduct business with them? To limit the time period for currency exchange in order to force the de-valuation of currency in circulation in order to reduce debt doesn't happen and wouldn't be tolerated by the world financial community. Countries have to be accountable for all of their currency and they can't play games with exchange timelines to try and prevent people for exchanging. Remember, in addition to individual investors, large governments and banks outside of Iraq hold Iraqi currency. Money from all over the world has flowed into Iraq through the purchase of Iraqi Dinar. The Iraqi Government will honor that investment in their economy, or there will never be faith in their economy and they will never be accepted by the world financial community.
DinarBanker.com owns a tremendous amount of Iraqi Dinar---we buy (any denominations) and sell our Dinar. We see the introduction of the new lower denominations as a very positive sign. Furthermore, we expect to continue to trade the Iraqi Dinar no matter what happens to the value of it in the future. With our extremely large capitalization, we are prepared for any value changes in the Iraqi Dinar and do not expect any exchange restrictions in the future or short time limits for exchange.
http://www.dinarbanker.com/information-articles/iraqi-dinar-redenomination-and-exchangeability.html
Good news source.
Here is a blog where major world economic news along with global geo-political events are covered.
Major Iraqi economic and political events are always covered.
http://articlesofinterest-kelley.blogspot.com/
latest iraq news~
Iraq orders former Blackwater security guards out
BAGHDAD – Iraq has ordered hundreds of private security guards linked to Blackwater Worldwide to leave the country within seven days or face possible arrest on visa violations, the interior minister said Wednesday.
The order comes in the wake of a U.S. judge's dismissal of criminal charges against five Blackwater guards who were accused in the September 2007 shooting deaths of 17 Iraqis in Baghdad.
It applies to about 250 security contractors who worked for Blackwater in Iraq at the time of the incident, Interior Minister Jawad al-Bolani told The Associated Press.
Some of the guards now work for other security firms in Iraq, while others work for a Blackwater subsidiary, al-Bolani said. He said all "concerned parties" were notified of the order three days ago and now have four days left before they must leave. He did not name the companies.
view more~
[url][/url][tag]http://www.dinar2u[/tag]
flip I have been told it will be handled as a standard Capital gain. So if you purchaced over one year from the date you exchange it will be a long term Cap gain and of course less than a year short term cap gain. But your tax guy will be the one with the final answer.
The Ministry of Finance announces the arrival of 1500 ATM for the distribution of sal
The Ministry of Finance announces the arrival of 1500 ATM for the distribution of salaries of employees and retirees in Iraq
Wednesday, 10 ???? 2010 16:55 GMT
Alsumaria News / Baghdad
The Ministry of Finance of Iraq, on Wednesday, the arrival of 1500 ATMs to a provision for the smart card will be distributed to private banks and banking offices to facilitate the receipt of retirees and staff salaries.
The Iraqi Finance Minister Baqir Jabr Al-Zubaidi on the sidelines of a meeting with managers of bank branches to discuss the problems the Iraqi government banks in Iraq in an interview with "Alsumaria News", that "the ministry received the1500 ATM is dedicated to smart card free of charge from the company's global smart card project implemented in Iraq. "
"Now that" these devices will be distributed to private banks, bureaux de change and some markets (supermarkets) in order to facilitate the receipt of pensions and state officials throughout Iraq. "
The Minister of Finance that "the number of beneficiaries of the smart card until the day arrived in Iraq to more than 600 thousand people, were first awarded for the retirees to be expanded on to include all state employees," noting that "the ministry had approached some of the Iraqi ministries on the extension staff card Smart. "
He pointed out that al-Zubaidi "smart card project is a qualitative leap in the work of Iraqi banks, with advanced technology introduced for the first time in Iraq for the work of banks, Iraqi government through the rapid disbursement of salaries of employees and retirees of any bank at any time," indicating that "it was disclosed recently a lot of fraud in the cards for older retirees, and they receive through their pensions. "
The government banks of the Rivers and sub-Rashid, began in February of the year the Past 2009 the distribution of pensions through thesmart card for more than 50 thousand retired and Iraq banks 50 A retired bank governance. "
It is supposed to provide about 250 smart card service to its subscribers, including recording the entry and exit for the government officials and the payment of water bills, electricity, telephone and the rest of the tax cuts, but he had not been used in Iraq until today only to receive pensions.
The Iraqi banks did not keep pace with developments in the work of international banks, continued to be linked through the use of telephones and fax machines, did not enter the Internet only after 2004, and seeks the Ministry of Finance to the development of banks associated with them, through the introduction of new technologies and linking banks world-wide automatic, to facilitate the transfer of funds to and from Iraq.
Link: http://www.alsumarianews.com/ar/3/29...%A7%D9%82.html
Then they will end up not RV it .. dont ruin our opportunity. Dont count your chickens before they hatch mn
If and when we exchange the dinar for cash american, will we be taxed on the exchange or will we have to go to seperate banks to recieve the total amount? Thanks ema appreiate all your post, thanks god for you i coulnt handle aero anymore after the past years
Central Bank Of Iraq: ... http://www.cbi.iq/
- XE.com (Currency conversion) ...... http://www.xe.com/ucc/ ...... http://www.xe.com/currencycharts/?from=IQD&to=USD&view=1D
- BAGHDAD Time ...... http://www.timeanddate.com/worldclock/city.html?n=27
- UN Meeting Site Page: ...... http://www.un.org/media/accreditatio ... mediaalert.asp
- UN Web Cast: ...... http://www.un.org/webcast/2010.html
<iframe src=" frameborder="0" width="82" height="18"></iframe>
- Iraqi Oil Photos - http://media.ft.com/cms/88df8636-0395-11dc-a931-000b5df10621.swf
- Up to the Minute RATES click here ...... http://www.gocurrency.com/
Inside Iraq - The media's role in Iraq's election. http://www.youtube.com/watch?v=m1Or6-KtIF0
THE IRAQ DINAR
The real Iraq Economy
http://www.cnbc.com/id/15840232?video=156657336&play=1
JUNE 15 … There is a rule, if they are going to LOP they need to PR it six months before it happens. June 15 is six months before December 31 2010.
SO! … It is appearing, if they DO NOT come out with a PR stating a LOP by June 16, 2010, then we are going into 2011 with our currency, this is, if we have any left because of the RV.This is WayneC777, If yo have more "ONLY SOLID POINTS" that can go in here ... LET ME KNOW
NEWS ARTICLES, Catagorized - IRAQ:
Iraq's - Debt Forgiveness : http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49250302
Iraq's - Oil, Gas News: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49250183
Iraq's - Banking News: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943708
Iraq's - Inflation, Economy: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943784
Iraq's - Political Elections: http://www.iraqdirectory.com/DisplayNews.aspx?id=12698
Iraq's - Positive Stories: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49249436
Iraq's - Security Council Report: http://www.securitycouncilreport.org/site/c.glKWLeMTIsG/b.6115649/k.8807/July_2010brIraq.htm
Iraq's - Negative Articles, Fraud Cases: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34465158
Iraq's - Air Ports: http://www.airiraqco.com/index.htm
Iraq's - Utilities, Power and Water: http://www.reuters.com/article/marketsNews/idUSL524628320090105
Iraq's - Posts to remember: http://en.aswataliraq.info/
These links below are from another board. They will be soon posted from this board. But They all share same info.
US Banks that will exchange Iraq's Dinar
- Chase Bank - Bank of America - TD Bank - HSBC - CITI Bank - Wells Fargo (selected branches) - Compass Bank - 5/3rd Bank - Regions
Conferance Calls:
- http://dinarspeculation.com/2010/04/30/4-29-10-rv-intel-conference-call/
How to check exchange rate
- http://www.cbi.iq/index.php?pid=CurrencyAuctions
- http://www.xe.com/ucc/
- http://www.ameinfo.com/currency
- http://www.ameinfo.com/cgi-bin/cms/page.cgi
- You own local Bank representative
Iraq Dinar Possative Video's
- CNBC ................................................ http://www.youtube.com/watch?v=0m6E76f__20&feature=related
- CNBC ................................................ http://www.youtube.com/watch?v=fHnpSVRTCFI&feature=related
- CNBC Cramer .................................. http://www.youtube.com/watch?v=Eg98H_LYk5Q&feature=related
- CNBC Dinar Trade ..................... http://www.youtube.com/watch?v=kvKrqeOf9oc&feature=related
- www.JackDeangelisShow.com ........ http://www.youtube.com/watch?v=CWqtZjx1Lk0&feature=player_embedded
- ........................................................................................................................... http://www.youtube.com/watch?v=cEE3ac1i0EI&feature=related
- ........................................................................................... http://www.youtube.com/watch?v=xFa-VGI3APc&feature=related style="font-size: medium">
- ........................................................................................... http://www.youtube.com/watch?v=08wzRAj9KMs&feature=related style="font-size: medium">
- ........................................................................................... http://www.youtube.com/watch?v=1UicRAmO29A&feature=related
- UV Light Test ...................................................................... http://www.youtube.com/watch?v=--RA_6DiyVY&feature=related
- 5%, 70.................................................................................................................. http://www.youtube.com/watch?v=F-QA2rkpBSY&feature=related
- Embasitor Charles Reese, Economic Development in Iraq ................... http://www.youtube.com/watch?v=x9ZloxxC-ac&feature=player_embedded#!
- The War in Iraq and the American Economy ............................................... http://www.youtube.com/watch?v=FdsymLhCDbE&feature=related
- Jordan Questions Henry Paulson ............................................. http://www.youtube.com/watch?v=XlQeTFfdaPM&feature=related
- Hillary Rodham Clinton and Minister Hoshyar Zebari .......... http://link.brightcove.com/services/player/bcpid1705667530?bctid=111866364001
United States Department of State
http://www.state.gov/p/nea/rls/rpt/c34687.htm
Tax Links:
- http://www.moneychimp.com/features/capgain.htm
- http://www.moneychimp.com/features/capgain.htm
- http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
- http://www.investopedia.com/articles/pf/07/capitalgains.asp?viewed=1
Iraq News:
< < < IRAQ'S NEWS SCOURSES: > > >
http://www.imf.org/external/country/IRQ/index.htm
http://iraq.usembassy.gov/iraq/20070214_iraqi_budget.html
http://www.imf.org/external/country/IRQ/index.htm
BANKING: http://en.wikipedia.org/wiki/Money_supply
Central Bank of Iraq: http://www.cbi.iq/index2.htm Exchange Rate: http://www.cbi.iq/index2.htm
New Iraq Currency: http://NewIraqCurrency.com
Iraq Stock Exchange / Daily Bulletin Sunday 7 September 2008: http://www.isx-iq.net/page/english/bulletins/day/2008/9/7-9-e.htm
Offshore Banking:
Currency Iraq's Dinar Venders:
The New Iraqi Dinar banknotes, printed by De La Rue, boast of the most up-to-date anti-counterfeit features, including watermarks, an embedded metallic strip, raised letters, an optical variable ink that can be seen only under ultra violet light, metallic ink and other variations to thwart off counterfeiters. In addition, it has high-quality paper that makes the colorful Dinar very hard to counterfeit. And of course there are other security features that have not been disclosed by the Iraqi Ministry of Finance.
Three of the easiest ways to verify the authenticity of the new Iraqi Dinar are:
1) Use black light to test for watermarks such as the horse head.
2) Use a special pen to detect fake bills with changing color - available from your local office supply store.
3) Hold the 25,000 and 10,000 Iraqi Dinar up to a light tilting it back and forth, the color changing ink will look much like a hologram.
Q. What is it that allows American citizens to invest in Iraq?
A. 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.
Notes:
Iraqi Oil Photos:
http://media.ft.com/cms/88df8636-0395-11dc-a931-000b5df10621.swf
ISX hot links
http://www.investorshub.com/boards/read_msg.asp?message_id=15860234
When the Dinar first came out in 2003 it was 4000 Dinar to $1 (American). Since then it has increased to 1290 Dinar to $1 (American) even during all the conflict and destruction to the oil refineries.
Here are some keynotes about this unique opportunity:
Prior to the Gulf War, 1 million Iraqi Dinar = US $3,200,000.(1 DINAR=$3.20 to 1 American dollar)
Now you can buy 1 million Iraqi Dinar for only US $760.
Iraq is the second leading oil producing country in the world,
and since October, 2003 the Iraqi Dinar has already appreciated 25%.
Forecasters are predicting continued appreciation of the Iraqi Dinar.
You invest $760 to purchase 1 million Iraqi Dinar.
Profit of $9,240 if the Iraqi Dinar appreciates to 1 Iraqi Dinar = 1 penny.
1 million Iraqi Dinar will = US $10,000.
Profit of $3,199,240 if the Iraqi Dinar appreciates to the pre-Gulf War rates.
1 million Iraqi Dinar will = US $3,200,000.
Kuwait Example:
Prior to Saddam Hussein Invading Kuwait: 1M Dinar = US $2,790,000
After the Kuwait invasion by Iraq: 1M Dinar = US $100,000
Today 1M Dinar = US $3,423,000*
*That's a 34-fold increase
On 11/12/06 the Kuwait Dinar is worth $3.84
Potential Value increase of a 1 Million Iraqi Dinar holding if the value of Iraqi Dinar increases to:
The resulting value of your 1,000,000 Dinar would be:
$0.01=$10,000
$0.10=$100,000
$0.20=$200,000
$0.50=$500,000
$1.00=$1,000,000
History of Iraqi Dinar and Iraq Dinar Stock Exchange
1932 Currency unit consisting of 1,000 fils or 20 dirhams. When officially introduced at the end of the British mandate (1932), the Iraqi 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 Iraqi Dinar from the pound sterling as a gesture of independence in 1959, but the Iraqi 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 Iraqi dinar (ID)1 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.
2001 Oil-production: 2.452 million bbl/day (2001 est.); note — production was disrupted as a result of the March-April 2003 war (2001 est.) 2002 GDP: purchasing power parity — $58 billion (2002 est.)
2002 Exports–partners:US 40.9%, Canada 8.2%, France 8.2%, Jordan 7.5%, Netherlands 6.4%, Italy 5.4%, Morocco 4.7%, Spain 4.4% (2002)
2003 In october 2003, the official Dinar-dollar exchange rate was ID1 to US$0.00027.
2004–2005 August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 est.) 2006 As of Jan 1st 2006, the official Iraqi dinar-US dollar exchange rate is ID1 to US$$0.00067.
Positive Changes in Iraq
Upon Saddam Hussein’s deposition in 2003, Iraq has undergone political and economic changes. Many believe that the re-building of Iraq’s infrastructure will stabilize Iraq socially, politically, and economically. With the new government establishing a new monetary system that encourages foreign investment, and the central bank of Iraq awarding foreign licences, many also believe that the value of the new Iraqi Dinar banknote is poised to escalate.
More Treasury Bills on the Way
The government of Iraq will issue more Treasury bills to the secondary market. For the first time in years, the central bank auctioned Treasury bills in July. Thus far, local banks have bought 900 billion Iraqi dinars ($628 million) worth of three-month bills with coupons ranging between 2.5 percent and 6.8 percent. To improve Iraq’s local currency, the dinar against the dollar, Iraq’s central bank also plans to build up its foreign-currency reserves.
Creating viable domestic capital markets will start the process of trimming the massive pre-war debt. Iraq’s path to debt reduction along with the generosity of the Paris Club by forgiving 80% of Iraq’s debt is good news for the Iraqi economy. Iraq’s growth-oriented policy, along with Iraq’s prospects of economic stability makes investing in the dinar potentially lucrative.
The Central Bank of Iraq
For the first time in decades, the central bank of Iraq awarded foreign bank licences to the following banks: HSBC, Standard Chartered, National Bank of Kuwait, Iranian National Bank, Commercial Housing bank, and Bahraini Arab Banking Institute. The Bahraini Arab Banking Institute is listed on the Bahrain, Kuwait, and Paris stock exchanges, and its major shareholders include the Kuwait Investment Authority, the central bank of Libya, and the Abu Dhabi Investment Authority. Granting foreign licences and liberalizing interest rates will create a vibrant free-market economy. Iraq’s re-invigorated banking policies will positively effect the value of the dinar in the near future.
The Potential of the Dinar
Prior to United Nations sanctions, the Iraqi dinar traded at 3.35 per U.S. dollar, and prior to the war in Iraq, the Iraqi dinar traded at .33 U.S. Dollars. During major combat operations, the Iraqi dinar declined to an all time low. However, after major combat operations, the value of the dinar increased 25%. Countries such as Germany (post WWII) and Kuwait (post Iraqi invasion) experienced a similar devaluation of their currency, but both countries recovered. Today, the dinar has increased from 3,500 against the dollar during the U.S. led invasion last year to 1,400 against the U.S. dollar. Imagine the growth potential of the Iraqi dinar once Iraq recovers and begins to enjoy the potential revenue of a country rich in oil and other natural resources.
The New Iraqi Dinar Banknote
Today, De La Rue, the world’s largest commercial security printer and papermaker based in Great Britian, prints the new Iraqi dinar banknote. The new Iraqi dinar banknote has various security features making the dinar very difficult to counterfiet, and the dinar banknote is now available in 50, 250, 1000, 5000, 10000, and 25000 bills. With the re-building of Iraq’s infrastructure and with the prospect of stability at hand, the Iraqi dinar is quickly becoming a very attractive investment opportunity.
_________________________________________
Here is a list of acronyms that are commonly used in Iraq.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=27652141
Currency Transaction Report
http://msb.gov/pdf/fin104_ctr.pdf
Understanding Currency Terms (M0, M1, M2, M3 etc.)
http://en.wikipedia.org/wiki/Money_supply
Do yourself a favor, watch this video;
http://video.google.com/videoplay?docid=3340274697167011147&q=lindsey+williams&total=806&start=0&num=10&so=0&type=search&plindex=0
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