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lol...like it...I'm out
what is lmgao?
Posted by: Aerospace he's negative but has a point
In reply to: None Date:1/23/2008 7:55:49 PM
Post #of 13965
In the last 30 years or so, 60 countries have lopped zeros from their currencies. That’s about 2 a year.
If M2 is irrelevant then please explain why 60 times in the last 30 years it has happened?
Not once has a country simply revalued one thousand, ten thousand, or one hundred thousand percent…. Never.
Acquired currency and price rises and inflation (stockings)
. Currency tool circulation of cash in public life, not only in the market transactions of sale and purchase .. and the monetary policy influence in the strength or weakness of the currency in circulation and to reduce the inflation rate and reduce the feeling the brunt of price rises and its unity, and avoid a lot of resentment from both sides of price rises and inflation.
ولك اربه، For progressive currencies in units partial multiple small impact on the main unit in place and have impact in the reduction of price rises and reduce the inflation rate, in contrast to large groups must out large unit adopted, it lead to a weakening of the strength of the latter, especially in the absence of policy price, and left jugular dealings in the market sunset,
لة.. Where have all the bear is exploiting the opportunity to sell at price that pleases fans, and no one course presents the goods at a price below the level of ambition or aspiration rather for the highest percentage of the profits, especially the case of loss of competition, which leads to inflammation prices, in a series seminars and related impacts, and consumers are feeling more millions (consumption) quick money in exchange for goods or merchandise few .. الوحا.. As a result of price rises, emergency incident motivated exploitation of the market and loose precious opportunity and handling large parts of the units to achieve greater monetary gain urgent various ways as we see and feel in our markets, the currency is no longer President dinar equivalent of A fils, but melted worth purchasing ability, and I said, it became dinar fils or less in some cases including the decline in the shares of some companies in the stock market and other .. مته. Then the currency in circulation now is the Chairperson category thousand dinars developed emphysema in size and diminished purchasing power, and surprised some interested in this matter to be smaller category of cash for this currency is the dinar (250), and not least, a large unit compared to the force and what needs The works by the fragmentation of this unit cash accredited to the smaller groups, as was once the existence of the category percent, and General session, before exiting yards deal with Chrysalis Passy damage of oblivion, then no longer for injecting sales and purchases not yielding to deal Pal (250) dinars, as a basis for price and any increases soo smaller unit, but the unit is smaller conducted on the basis of any increased needs, the food and drink daily Bojbadtha at least three, including required by these meals from Allguetsar on one type of S., given the impossible. لة.. That meant all the monetary value in the calculation of the basic unit of the coin, a category thousand dinars, decline and erosion implicitly and really push one quarter forced to deal valued .. The smallest increase, or changes imposed by the seller and his mood and driving, beginning PAY devaluation President, a significant increase Of course, without a doubt, particularly as it did not exist for his efficient percent, the smallest category session, which reinforced the value of the many places consumption is the widening of the scope underestimated currency Chairperson, accumulating over the months, including overwhelmed by the power of large millions of citizens and energy as well as currency, which devalues their purchasing power by the monetary value .. رأ.. This not lose sight of that increases in the price causes, and not the result of pressure .. nevertheless is right and genuine increases imposed arbitrary and imposed no desire biggest loss in the shortest period of time, but also by the loss of small groups including currency holdings advantage of the power, though small advantage relay .. خذ). Fragmentation of the category (250) dinars to the smallest categories produces a multi-unit increase bargaining between buyers and sellers before being traded small category now is the currency, which will start in the increase .. increase the minimum needs, let alone the needs and increases the amounts added to what it was and users in the market and in services such as transport for example, are less than the (250) dinars to add any increase (not paid or taking).
انفعملة). The loss currencies micro adverse effects emerged in several countries and peoples, declared from the historical experience of time, swept the French people after the revolution in 1789 and between historical experiences, I have these currencies led to a rise in prices consequent hardships has killed thousands of hunger and hunger Maspbh tragedies and tragedies affected millions depths of humanity, Iraqna now happening in the lobster to be seen as witnessed in France and the other in this area, this clearly tells us not on the acquired price rises and inflation, but also to the loss of small currencies me reason but lead to arbitrary cost Added the real price rises, and to the artificial inflation of Esthan prejudicial degree conferment of monetary policy (currency). ً عس. To Anzid, it is small by Mattold substantial damage seemed either or both hidden from sight and intangible.
ااستكل. Base currency, which produces inflate operative paragraph .. and pressure size and capacity to less than that, which means the consumption of the base currency by large increases and the steady erosion of Mataatbah.
فاده!.. Four cases of the increase occurring on a single commodity or four thousand dinars vanished from the pocket of this consumer and handheld! .. هسن. This assumption for the increases seen in the fact that since the daily in 2000 and suffering of millions of citizens, but taken on the basis of lower levels of increase for each of the many needed by the kitchen each house .. which of course is not the greatest increases, which included other goods and commodities, which encouraged users to underestimate the amount of the increase Those smaller, and therefore underestimated the basic monetary unit, which doubled the amount of the increases to other needs daily and non-daily numerical sequence since losing both Alsgirien currency. ثم .. Eight of those increases spread from hand to the other fields of public services, such as transport for example has ridden the waves of the increase cat and four times more "than a benefit owners of the vehicles themselves, which is recognized by many of them. Worse, it is plunged medicine and medicine "poor impulse of a cheap", as well as pay hospitals and surgical operations, etc. .. It is enough to point to in the Ktherth significance than other readers know .. and suffer from expensive for burning of oil prices started ..
خوادية. Abstract these few examples, but important indications of the price rises, hunger and low square value of the currency and purchasing power consumption many places, is the widespread disregard major accumulation over the months, including overwhelmed by the power of large millions of citizens, and energy as well as currency, which devalues their purchasing power by monetary value.
هذتعد. This not lose sight of that increases in the price causes, and not the result of pressure .. nevertheless is right and genuine increases imposed arbitrary and imposed no desire biggest loss in the shortest period of time, but also before that: the loss of small groups of the currency, including most of the advantage of the force, though small, the advantage of the relay. فتجزئة فئة الـ (2ادة.. Fragmentation of the category (250) dinars, the smaller classes allow room for multi-unit increase and bargaining between sellers and buyers Qublb be smaller category now circulating currency, which will start by the increase .. زيا). Increase minimum needs, let alone the needs and the amounts added to the increases in Valmtaton intact in the market and in services, such as transport for example, are less than the (250) dinars to add any increase, (the board does not pay, which takes).
انعمار. The loss currencies micro adverse effects emerged in several countries and peoples, declared their historical experience once swept people after the French Revolution of 1789, among other historical experiences have led these currencies to rise in prices consequent hardships, the victims of starvation and thousands Maspbh hunger tragedies and tragedies long deep humanitarian millions, and in Iraqna happening now tested to be seen as witnessed in France and others in this regard. ي علة). This clearly tells us not on the acquired price rises and inflation, but also that the currency loss was small for any reason but lead to arbitrary cost added to the real price rises, and to the artificial inflation of Esthan prejudicial degree conferment of monetary policy (currency). وس. To Anzid .. it is small Mattold him substantial damage seemed either or both hidden from sight and intangible.
http://64.233.179.104/translate_c?hl...6sid %3D38354
OPEC doesn't want to increase output...wow this is gonna get bad for US but good for big oil...nice
gn stocks...good dd
Oil Jumps on Surprise Supply Drop
Wednesday March 5, 3:35 pm ET
By John Wilen, AP Business Writer
Oil Prices Surge Higher After the Government Reported a Surprise Drop in Supplies
NEW YORK (AP) -- Oil surged Wednesday, rising a remarkable $5 a barrel to a new record over $104 after the government reported a surprise drop in crude oil stockpiles and OPEC held production levels steady.
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Most analysts had expected the Energy Department's Energy Information Administration to report oil supplies rose last week for the eighth straight time. Instead, they fell by 3.1 million barrels.
In Vienna, meanwhile, the Organization of Petroleum Exporting Countries said it would hold production levels steady, at least for now.
The EIA report and OPEC announcement fed a new frenzy of investing in oil futures, which have risen to new inflation-adjusted records this week as the falling dollar drew new investors to the market.
Light, sweet crude for April delivery jumped $5 to settle at a record $104.52 a barrel on the New York Mercantile Exchange. Shortly after the Nymex closed, oil briefly rose to $104.95, a new trading record. Earlier this week, oil prices broke the previous inflation-adjusted price record of $103.76, set in 1980 during the Iran hostage crisis.
Crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the dollar is falling.
At the pump, meanwhile, gas prices rose a cent to a national average of $3.178 a gallon, according to AAA and the Oil Price Information Service. Gas prices have been following oil's recent rally, and are 69 cents higher than a year ago. Many analysts expect prices to rise to near $4 a gallon this spring and summer as driving demand picks up.
While investors chose Wednesday to focus on last week's decline in oil supplies, analysts noted that oil inventories are at historic highs. Meanwhile, demand for gasoline is falling, and several forecasters have cut their oil demand growth predictions for this year.
"There are some very disturbing things in this report on the demand side," said Andrew Lebow, senior vice president at MF Global Inc. in New York.
That suggests oil's sharp jump Wednesday was also partly driven by the dollar, which fell to a new low against the euro.
"There's an ongoing stampede to be a part of the crude oil rally," said Tim Evans, an analyst at Citigroup Inc., in New York.
Many analysts believe oil's rally will be short-lived. Falling demand for overall petroleum products, which was down 3.4 percent over the last four weeks compared to the same time last year, suggest prices could drop steeply once the dollar-driven oil investment frenzy runs out of steam, analysts said.
OPEC ministers cited falling demand in announcing their decision to hold production steady. Gasoline demand is off about 1 percent over the last six weeks compared to the same period last year, according to EIA data. At the same time, gasoline supplies rose last week to a 15-year high, Evans said.
"Clearly, refineries have enough crude oil to produce an abundance of gasoline," Evans said.
OPEC did pledge to keep a close eye on oil supply and demand, and said it could change its output levels quickly if needed.
Other aspects of the EIA's inventory report were roughly in line with expectations. Gasoline supplies grew by 1.7 million barrels last week, more than the 900,000 barrels analysts expected, and are at record levels. On the other hand, inventories of distillates, which include heating oil and diesel fuel, fell by 2.4 million barrels, more than the expected 1.9 million barrel decline, and are low in historic terms.
Refiners ramped up production for the second week in a row, boosting activity by 1.2 percent to 85.9 percent of capacity, beating analyst forecasts.
Oil pulled other energy futures higher Wednesday. April gasoline rose 11.3 cents to settle at $2.6421 a gallon on the Nymex, and April heating oil futures jumped 15.13 cents to settle at $2.9431 a gallon after rising to $2.9484, a record high. April natural gas rose 38.8 cents to settle at $9.741 per 1,000 cubic feet.
In London, April Brent crude rose $4.12 to settle at 101.64 on the ICE Futures exchange.
Stockings,good posts dude...lots of good news. I don't have time to dig like that...cool
yup....matter of arab time to boomage...lmao
Why would he visit Iraq though? hmmmmmm OIL ?
This guy really wants to get dead, man get em Israel lol
Hillaryarius....no way...Mccain gets in i think...imo
Wow, lotta news....looks as if they are finding ways to actually get things accomplished.....GOOO DINAR...LOL
US Treasury sees 'window of opportunity' for Iraq economic reform
AFX
WASHINGTON (Thomson Financial) - Iraq's government has made real progress on economic reform over the last year, and with better security now has a chance to make much more progress improving the standard of living of its people, a senior US Treasury official said today.
'There is a window of opportunity on the economic reform side that has been created by the security improvement,' Undersecretary of Treasury for International Affairs David McCormick told reporters in a briefing after returning from two days of meetings with Iraqi economic officials in Baghdad. Now, it is 'critical that they seize the opportunity on the economic side,' he said.
Over the past year, for example, headline inflation has fallen below 2 pct from more than 65 pct at the end of 2006. The government has also signed a new economic program and stand-by lending agreement with the International Monetary Fund. It sets out economic benchmarks but does not provide immediate loans.
The IMF said 'despite difficult conditions, Iraq has made progress toward stabilizing the economy,' but that the economic outlook 'hinges on improved security.' The 2008 program includes maintaining lower inflation and expanding infrastructure projects in electricity, water, sanitation, education and health care.
McCormick emphasized that US Treasury technical assistance will focus on what officials call 'budget execution' as the key reform goal ahead. That is a somewhat euphemistic way of referring to the fact that Iraq has lacked even the basic administrative ability to spend the oil revenue or aid accumulating in the government accounts, and lacked any reasonable accounting system to prevent massive portions of what it did spend from being diverted by corruption.
But McCormick said Iraq has made enough progress that there is a shift from reconstruction to development and toward building governing and banking capacity. Treasury also plans on doubling its assistance staff in Iraq to 24.
McCormick would not accept the wording, but he did seem to be describing a situation in which, despite ongoing stalemate at the political level, there are bureaucrats in the government who still manage to make progress on some basic economic issues.
One particular political stalemate, the inability to pass an oil revenue distribution law, does remain a significant barrier to economic reform and progress in the average Iraqi's standard of living, McCormick said.
dennis.moore@thomson.com+dennis.moore@thomson.com
lol...good point
Iraq is like an old rich crazy uncle who eats dog food and you would think his stinky ass didn't have a pot to piss in....till somebody sees his check book...lmao
US protecting it's new girlfriend...lol We've achieved penetration of the oil fields...
And This Is The Rest Of The Story..(copied post)good...
--------------------------------------------------------------------------------
Did you know that 47 countries have re-established
their embassies in Iraq?
Did you know that the Iraqi government
currently employs 1.2 million Iraqi people?
Did you know that 3100 schools have been renovated,
364 schools are under rehabilitation,
263 new schools are now under construction
and 38 new schools have been completed in Iraq ?
Did you know that Iraq 's higher educational
structure consists of 20 Universities,
46 Institutes or colleges and 4 research centers,
all currently operating?
Did you know that 25 Iraq students depar! ted
for the United States in January 2005
! for the re-established Fulbright program?
Did you know that the Iraqi Navy is operational?
They have 5 -100-foot patrol craft, 34 smaller vessels
and a naval infantry regiment.
Did you know that Iraq 's Air Force consists of three operational squadrons,
which includes 9 reconnaissance and 3 US C-130 transport aircraft
(under Iraqi operational control)
which operate day and night, and will soon add
16 UH-1 helicopters and 4 Bell Jet Rangers?
Did you know that Iraq has a counter-terrorist
unit and a Commando Battalion?
Did you know that the Iraqi Police Service has over 55,000
fully trained and equipped police officers?
Did you know that there are 5 Police Academies in Iraq
that produce over 3500 new officers every 8 weeks?
Did you know there are more than 1100
building projects going on in Iraq ?
They include 364 schools, 67 public clinics,
15 hospitals, 83 railroad stations,
22 oil facilities, 93 water facilities
and 69 electrical facilities.
Did you know that 96% of Iraqi children under the age of 5
have received the first 2 series of polio vaccinations?
Did you know that 4.3 million Iraqi children were
enrolled in primary school by mid October?
Did you know that there are 1,192,000
cell phone subscribers in Iraq
and phone use has gone up 158%?
Did you know that Iraq has an independent
media that consists of 75 radio stations,
180 newspapers and 10 television stations?
Did you know that the Baghdad Stock Exchange
opened in June of 2004?
Did you know that 2 candidates in the Iraqi
presidential election had a televised debate recently?
OF COURSE WE DIDN'T KNOW!
WHY DIDN'T WE KNOW?
BECAUSE...
OUR MEDIA WOULDN'T TELL US!
Instead of reflecting our love for our country,
we get photos of flag burning incidents at Abu Ghraib
and people throwing snowballs at the presidential motorcades.
Tragically, the la! ck of accentuating the positive in Iraq serves two purposes:
It is intended to undermine the world's perception of the United States
thus minimizing consequent support,
and it is intended to discourage American citizens .
---- Above facts are verifiable on the Department of Defense web site..
http://www.defense.gov/
http://www.pentagon.mil/
http://www.defenselink.mil/
http://www.defendamerica.mil/iraq.html
http://www.jcs.mil
EDEX great news...could bounce here
EDEX great news...could bounce here
VSHE news here..got email too...hmmmmmm
VSHE got some yest after email
Iraq seeks to draw international investments
Iraq seeks to draw international investments
Al Sumaria - [1/27/2008]
Deputy Prime Minister Barham Saleh affirmed that Iraq is deploying utmost efforts to draw international investments and develop local working sector in Basra. On the sidelines of the world economic forum in Dafus, Saleh hoped circumstances would be appropriate to help the government draw investments and provide Basra residents job opportunities and improved living standards.
For his part, Michael Wirinj, appointed president of Basra development committee noted that oil industry sectors, airlines and agriculture are fields that attract investments. While he demeaned security threats in the province, Saleh confirmed that several oil and gas companies operate in risky areas.
More friggin arabonics....geez....anyone? Buler?
Substantial decline in the demand for dollar purchase auction the Central Bank of Iraq
--------------------------------------------------------------------------------
Substantial decline in the demand for dollar purchase auction the Central Bank of Iraq
بغداد Baghdad
Decreased demand "substantial" to buy the dollar at the opening of meetings this week, an auction of the Central Bank of Iraq Sunday, recording total volume of demand was 25 million and 825 thousand dollars compared to 91 million and 395 thousand dollars at a meeting last Thursday. Explained special bulletin ERA CBE Sunday " Demand distributed by 7 million and 625 thousand dollars in cash and 18 million and 360 thousand dollars in the form of remittances outside the country covered by the bank fully stable exchange rate for the fifth consecutive session capability 1213 dinars, made with the 15 banks participating in the auction offers for the sale of two million dollars purchased by the bank in full at the exchange rate of 1211 dinars. "For his part, he said Yasiri, one dealing with the auction that" banks remittances deferred futures and the cash purchase reduced to the minimum aim of the purchase need cash and money orders at prices lower than the current. "Yasiri, and added that" the increased purchase marks an attempt by dealers to put pressure on the bank to reduce the price ; However, the policy appears banking firm will be influenced by any pressure from the dealers. "For his part, the economic expert, Dr. Juma Ani that" delayed approval of the budget might affect the value of money orders because of the lack of allocations for the procurement and contracting of large projects to exhaust most of the ministries and government bodies of the amounts allocated to it by the government. "Ani added that the" government remittances constitute the backbone of the auction fact that the role of Iraqi private sector continues to be limited, not the level of overall performance as it is much lower than that in neighboring countries and boosting requires several measures to be taken jointlyBetween government and private sector representatives. "As an economist and industrial Sadiq Abdul Razzaq Abaiji had warned the bank following the reduction in the demand for dollar reduction in the purchase price of exchange that this action will lead to a new economic crisis, explaining that the" strong policy of the Central Bank in the first crisis proved strength and the weakness of the auction speculators, which should take into account the bank in dealing with the decline and the demand to expect urgent action might affect the market more than stereotypes aimed at lifting the level of demand for quick cash and money orders. "described Uday Rustum Shabib, owner of the Office of banking, the market stable at the level circulation at the time the exchange rate plummeted to 1200 1210 sales, thereby reducing the profit margin of sales offices in limited, noting that the stock exchanges are nevertheless routinely The need in the market high and the stock exchange in Baghdad struggle active and activity both bourses Kazimiya and Harthiya Confer average levels
http://209.85.135.104/translate_c?hl...m/economy.html
__________________
yep...there was no joy in Mudville..But I hugged my Dinar and went to bed.....lmao
It's funny,I went to my neighbor's house last nite and the whole Dinar thing came up because I told him at some point to do some DD and maybe buy some. He said he thoroughly investegated it and said that it is a bad investment and it's not worth the paper it's printed on......idiot...then he went on to say that if and when Iraq starts pumping oil again we'll see, maybe I'll do it then...Sad but true because this is how most people view anything that seems " too good to be true". Meanwhile he's broke and could be retiring soon...I just don't get it...I was trying to help him...
This is old but maybe we could learn a little....
Kuwait may counter dinar speculation
by Reuters on Thursday, 29 March 2007 Kuwait's central bank said on Wednesday that it may take unspecified measures to curb speculation in its dinar, firing a warning shot as speculators buy the currency in the hope that the oil producer may revalue.
"Having huge inflows of capital is increasing the burden on us," Nabeel al-Mannae, deputy governor of the Kuwait central bank, said in a telephone interview with Reuters on Wednesday. "We will make sure they won't make money on our currency."
Investors had been buying dinar forwards after Kuwaiti officials said they may revalue the unit, which, like other Gulf Arab currencies, is pegged to the dollar.
Story continues below ↓
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The central bank may "take necessary measures so that there will be no benefit from such speculative behaviour", Mannae said in the earlier statement.
The bank is "unsatisfied with the increase in the volume of dinar purchases that do not have underlying commercial foundation and which are indicative of accumulation of speculative long dinar position", Mannae said in the statement.
In the interview, Mannae declined to be more specific about the possible measures, though he ruled out capital controls. "We say absolutely we will not use capital controls," he said.
The central bank could act as early as Sunday, he said. The central bank is closed on Thursday and Friday for the weekend, and again on Saturday for a public holiday.
Kuwait allowed its currency to appreciate 1% within a 3.5% trading band against the dollar in May, citing rising euro and other non-dollar import costs.
The euro has appreciated almost 13% against the dollar since January 1st 2006, helping to fuel inflation in Gulf Arab oil producers. Crude oil is priced in dollars.
HSBC estimated Kuwait's 2006 inflation at 3%, its second highest annual rate in at least the past five years.
The dinar fell on Wednesday to as low as 0.28970 per dollar on the central bank statement, its lowest since May.
"It's pretty clear cut - there have been rumours of a dinar revaluation and a number of people have been placing trades in forward markets based on this so the central bank is reacting to that," said Shahin Vallee, a strategist at BNP Paribas in London. "They could sell dinar forwards aggressively."
Kuwait was the top candidate to revalue, according to several analysts in a Reuters poll earlier this month, with a change likely to be 5%.
Investors betting that Kuwait and the United Arab Emirates, would revalue separately from their Gulf peers pushed the UAE dirham to an 11-month high and the dinar to a 10-week high in February.
Dorothee Gasser, an economist at ING Bank in London, said U.S. funds were among buyers of the dinar. "You can't blame the funds as Kuwait had mulled revaluation in December and they did revalue in May last year," Gasser said.
Speculation about a region-wide revaluation reached fever pitch earlier this year after the UAE, the Arab world's second largest economy, said Gulf states could decide at a meeting in Saudi Arabia next week whether to keep or change their exchange rate regime.
Gasser and Standard Chartered, in a research report this month, said that Kuwait was likely to revalue in the second quarter on expectations that the dollar would depreciate against the euro.
Standard Chartered said there could be "either a widening of the band or a shift to a more flexible exchange rate system, such as targeting a trade-weighted level for the KWD instead".
Iraqi minister: race for new oil fields
--------------------------------------------------------------------------------
An Iraq at peace may be capable of pumping substantially more than 5 million barrels of crude a day -- and the world's big oil companies want to be part of the action if and when it does.
With violence down and production up, Iraq says output reached nearly 2.5 million barrels a day last month -- about half the capacity eventually foreseen by many analysts. But Iraqis are even more bullish.
"We expect to take Iraq to between 6 (million) and 8 million barrels a day ... in about 10 to 12 years," Oil Minister Hussein al-Shahristani told The Associated Press Friday on the sidelines of the World Economic Forum, saying most of the extra production would be coming from "green fields" identified but not yet exploited.
Such estimates are definitely on the high end. Still, the big oil companies appear to be believers in the future of Iraq as perhaps the Middle East's last oil frontier -- and are already trying to gain the best toehold in a contest that in part pits Russia's state-linked sector against major players from the United States and Europe.
"All the majors and the minor oil companies have shown a great interest including the Russians, obviously," al-Shahristani said as he took a break from meeting key figures in the industry for an interview in the lobby of his hotel at this Swiss Alpine resort. "They are all very keen to come and work in Iraq."
Al-Shahristani's view of his country as "the place ... for future work in the industry" is shared by many in the industry.
Saudi Arabia, the Middle East petroleum powerhouse, now produces about 9 million barrels a day and will likely remain OPEC's most prolific source of crude for decades of come.
But there is intense interest in expanding other sources of supply because of concerns that the oil flow from Iran, the organization's No. 2 producer, could be interrupted if tensions with the U.S. over Tehran's nuclear program turn into conflict.
This is where Iraq comes in, with potential for development and oil reserves that one company last year revised upward to more than an estimated 200 billion barrels. That estimate, by the consulting firm IHS Inc., is double previous ones which already qualified the country as holder of the world's third-largest reserves.
Ehsan ul-Haq, chief analyst at PVM Oil Associates in Vienna, Austria, said the general perception in the industry is "that there are much more possibilities in Iraq than anywhere else in the Middle East."
So who will get the nod? Al-Shahristani says the playing field is level.
"We have been telling everybody ... that ... awarding contracts is going to be (a) transparent, public competition, according to the international industrial norms," he said.
Still considering America's huge footprint in the country, the big U.S. oil companies might have the advantage. And that could deal a setback to Russia's drive to take a bigger share of the energy pie -- most recently demonstrated by lucrative pipeline deals and company purchases in the Balkans by gas giant Gazprom.
Al-Shahristani denied any planned favoritism.
"We are not going to look at the nationalities of the companies," he said, adding that U.S. companies hoping to win bids "have to offer the Iraqis the highest return."
"They have to abide by the rules of the game like everybody else," he said.
But Ul-Haq said sentiment is that "the American companies will have the advantage in Iraq, even though the Russians have been trying to improve their relations with the government."
Complicating any bidding are disputes over a proposed oil and gas law, meant to divvy up those resources among Shiites, Sunnis and Kurds -- one of the benchmarks sought by the United States to achieve national reconciliation.
The Iraqi Cabinet approved a U.S.-backed draft bill last February and forwarded it to parliament. But parliament, citing legal technicalities, sent it back to the Cabinet. The measure has been bogged down in negotiations ever since.
With national legislation stalled, Kurdish authorities have signed more than a dozen contracts with foreign companies over the objections by Oil Ministry officials in Baghdad, who consider the deals to produce oil in northern Iraq illegal.
Bidding procedures are going ahead nonetheless, with Iraq giving international oil companies until Feb. 18 to submit their documented interest in participating in the development of some of the country's most prized oil fields.
The Iraqi government recently warned foreign oil companies that deals signed with the Kurds were illegal and on Friday, the Iraqi oil minister -- with an indirect nod toward the Kurds -- cautioned all factions to view the resource as a shared good.
"Oil can either unite Iraqis into a prosperous democratic society, or can split Iraqis into warring factions, trying to lay their hands onto whatever oil they can get," he said.
"Oil is the wealth of all the nation and it should be distributed equitably to all the regions of the country."
http://www.businessweek.com/ap/finan.../D8UD4GP00.htm
The Ministry of Finance doubled capital private banks
--------------------------------------------------------------------------------
The Ministry of Finance doubled capital private banks
PUKmedia بغداد – حيدربدرخان 15:56:02 2008-01-26 PUKmedia Baghdad - Haidarbadrkhan 15:56:02 2008-01-26
. Finance Minister announced Baqir Jabr Al-Zubaidi said the ministry provided services to the private sector through a decision to increase the capital of banks and private sector banks, each bank instead of one million dollars to two million dollars annually to a rising almost doubled and overall allocation of 200 million dollars to half a billion dollars .
. He added Zubaidi second in the conference to support the private sector banks "eligibility" organized by the ministry on Saturday morning at its headquarters in minors Aladnani southern Baghdad "that the government through its market economy started the actual mechanisms to make equal opportunities between the public and private sectors.
. He revealed that the banks could Zubaidi eligibility after this conference is now to make the opening credits to pay retirees who transfer from the public sector to National, whether outside or inside Iraq and spare the country the citizen who served 40 years of hardship and monotony travel bureaucracy and red tape.
. He criticized some practices Zubaidi government sector financial and administrative control "of mental or socialist ideology" and its impact on older employees to over the past decades, whether in the budget or accounting or banking and continued Zubaidi stressing: it is no longer acceptable in the new Iraq on the open market economy.
. The Minister of Finance invited banks eligibility to provide the best services for the purpose of the competition and provide more services is one of the competition remains in the yard and that any delay might graduation from that district, stressing the need to follow money laundering to finance non Alarhabier and open circles and the people of particular scrutiny within banks to follow up on the financing of terrorism It also invited them to attract private sector investment from traders and others who open government provisions at the banks and asked: Merchant private sector Why Ivch accreditation to the private sector where the imbalance?.
. He pointed out that the engineer Security Council resolutions it is important to implement as is happening now from Iraq to pay the debt to the former regime of Kuwait and went Zubaidi: not convinced that debt, but we still pay due respect to the international resolutions and international law and not to satisfy us, we seek to cancel the remaining them.
من . For his part, the Iraqi Central Bank Governor Sinan Dr. Alshabibi that sector support "financial" Special become legally according to the Iraqi Constitution, however, criticized the slow movement of the private sector, stressing that all the banks in financial terms become equal opportunities and the work of the Central Bank to maintain the exchange rate and increase interest rate, explaining the need to shift from banks to financial institutions purely commercial.
[ عودة ] [Back]
http://209.85.135.104/translate_c?hl...7%26Itemid%3D9
interesting.....hmmmm from anthr room...
"I ordered Dinar from Regions Bank last week and I and picked it up today and they said they will no longer sell Dinar at any Regions branch as of today. But they will still buy it from you. Do they know something that we don't know. Is Chase bank going to follow the same."
I'll donate 100 NID to Aero...any match
Not bad to laugh once in awhile...I crack myself up..lol
Yeah, Roger Clemens went on to win 4 Cy Young awards after the Sox said he was washed up...Lance Armstrong went on to win 4 Tour de France titles after he was gonna die of cancer...Ben Johnson goes on to win the fastest man in the world with a 450 lb bench press...The answer.....STEROIDS MAN...Iraq is juiced up full of AMEROIDS baby and the Dinar is flexin it's muscle....Either buy some or GET OUT OF THE WAY MAN...HALLELULIA..HOLY S*%T..WHERE'S THE TYLENOL???....LMAO
Any comments on media invite?
I had a Rinker 270...sweeeet boat
GEGP buying coming in
Whoever is actually vested in this and wants to talk about it I'm fine with that but if all you have to say is negative S*^T SAVE IT...I don't have time for it and it is just plain bashing from probably blue heads who need to be out stealing sweet and low....lol
The US has scammed more people and countries in history than Dan Duffy ever could and they own alot more Dinars. Where's YOUR common sense now? You are a piker with no Dinar...I listen to REAL investors....let it go man...lol
They MAY CHANGE? yeah Hillary MAY be the new pres too lmfao..