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French president's envoy arrives in Baghdad
February 25, 2010
The French president's envoy arrives in Baghdad on Thursday to sign economic agreements
BAGHDAD - Haider al-Rubaie Fulayyih
Scheduled to arrive in Baghdad today, the French President's envoy, Minister of Industry Cristian Astrozzi, heading a large delegation comprising a number of members of parliament, businessmen and French investors.
A statement of the French Embassy in Baghdad received (morning) a copy of it, that the French Industry Minister, accompanied by 24 journalists to cover the visit, will meet his Iraqi counterpart in Baghdad, Fawzi Hariri and the Mayor of Baghdad, Sabir al-Issawi in order to implement a number of investment agreements concluded between the two countries in earlier times , in addition to the signing of new agreements in several areas, including industry and services.
The statement expressed the hope that return economic agreements beneficial to the general fact, investment in Iraq, revealing that the agreements will include the establishment of the Baghdad Metro by a company specialized France, and a huge project to provide Baghdad with drinking water, in addition to the establishment of assembly lines for trucks, and other investments on the rehabilitation of and the establishment of cement plants, and projects for the establishment of petrochemical plants.
France had extinguished 80 percent of the debt owed by Iraq, in a move aimed at improving the economic reality in the country and revive the reconstruction processes taking place in Iraq.
The statement noted the great interest shown by France in support of the Iraqi side in various fields, particularly economy, noting the delegation's visit comes a complement to efforts to support the Iraqi reality sought by Paris a few years ago, stressing at the same time, the continued support of France in the future in various areas.
The statement also disclosed that the French Industry Minister will address during his files relating to the establishment of important economic express train in Iraq, the first project of its kind in the region, as well as the return of the French aviation company to operate in the country, and other discussions related to building hospitals.
According to the statement, The French minister will open in its presence in Iraq by the French Center for the work, which is hoped to give full support to French companies operating in Iraq, and facilitates the entry of businessmen in the Iraqi market.
http://articlesofinterest-kelley.blogspot.com/2010/02/french-presidents-envoy-arrives-in.html
IMF to provide 3.6-billion-dollar loan to Iraq
WASHINGTON (AFP) – The International Monetary Fund on Wednesday approved a 3.6-billion-dollar loan to Iraq to help the war-torn country meet pressing finance needs.
The IMF executive board approved a two-year so-called Stand-By Arrangement for Iraq for about 3.6 billion dollars "to cover the country's balance of payments needs," the Washington-based institution said in a statement.
The action makes about 455 million dollars "immediately" available to the Iraqi authorities, it said.
The new loan follows a 15-month program supported by a Stand-By Arrangement initially approved on December 20, 2007 and which expired on March 18, 2009.
"The successor arrangement is designed to support Iraq's economic program over the next 24 months through February 23, 2012," the IMF said.
http://news.yahoo.com/s/afp/20100224/wl_mideast_afp/imfpublicaidiraq_20100224214829
Legal warning from ema-266
Please be advised:
1. I am not nor ever have been a dinar dealer.
2. I have not nor never have been compensated in any way, monetarily or otherwise by anyone who sells, trades or exchanges Iraqi Dinar or any other currency.
3. I have never promoted, endorsed, or advertised for any currency dealer or trader ever. Not here or any where else on the Internet.
4. I have always suggested and promoted the use of United States banks and the United States banking system.
5. All persons here on this board or anywhere else on the Internet who have made the false claims that I ema-266 (or any other user name I have ever used on any forum at any time) is a dinar dealer , currency dealer or work for or have been compensated in any why shape or form by any currency dealer or trader has engaged in the false defamation of me the poster known as ema-266.
6. The out right defamation and lies have been recorded on this forum and all forums and have been reviewed for the merit of possible future litigation on the bases and grounds of personal defamation of me ema-266 by those who have publicly made these false claims and by doing so have intentionally and willfully done personal harm to me.
7. All persons who have made these false claims and therefore have committed libel in this public format are here by forewarned that your crimes of defamation and libel committed and recorded in public may at anytime in the future be addressed by litigation by me the poster known as ema-266.
Defamation—also called calumny, vilification, slander (for spoken words), and libel (for written, broadcast, or otherwise published words)—is the communication of a statement that makes a claim, expressly stated or implied to be factual, that may give an individual, business, product, group, government, or nation a negative image. It is usually, but not always,[1] a requirement that this claim be false and that the publication is communicated to someone other than the person defamed (the claimant).
In common law jurisdictions, slander refers to a malicious, false and defamatory spoken statement or report, while libel refers to any other form of communication such as written words or images. Most jurisdictions allow legal actions, civil and/or criminal, to deter various kinds of defamation and retaliate against groundless criticism. Related to defamation is public disclosure of private facts, which arises where one person reveals information that is not of public concern, and the release of which would offend a reasonable person. "Unlike [with] libel, truth is not a defense for invasion of privacy."[2]
False light laws are "intended primarily to protect the plaintiff's mental or emotional well-being."[3] If a publication of information is false, then a tort of defamation might have occurred. If that communication is not technically false but is still misleading, then a tort of false light might have occurred.[3]
In most civil law jurisdictions, defamation is dealt with as a crime rather than a tort.[4]
Fair warning.
ema-266
No doubts what so ever! HERE IS WHY!:
Iraq ~
We know, as fact, that Iraq is a very wealthy nation, unlike N. Korea and other poor countries who choose to lop their currencies. Iraq's prosperity will increase with reconstruction. Oil revenues will continue to increase and jobs will continue to increase along with manufacturing, agriculture, etc... Iraq's economy is poised for resurgence.
Iraq is changing and the demand for all types of goods and services is growing fast. The focus is on reconstruction as the government rebuilds essential infrastructure, from power and water utilities and transport infrastructure to residential housing. At the same time, the government is investing in the essential economic infrastructure; including oil fields and the mid- and downstream pipelines, petrochemical, and fuel distribution sectors. Also, other areas in telecommunication, electricity, health, housing and construction, industry and manufacturing, banking and finance will continue to grow.
As far as Iraq's monetary system and it's currency is concerned, we can look forward to Iraq having one of the strongest currencies in the world. With or without Iraq joining the GCC, Iraq will have a very strong dinar. Also, when and if Iraq joins the GCC, we will see a monetary bloc worth Trillions.
In the near future we can look forward to the GCC being included in a basket of currencies which will possibly include an Asian currency along with the Dollar and Euro.
Link ~ to GCC ~ strength of currency ~
Gulf Unified Currency will be one of Top Five ... Sept. 2008 ~
As far as Lopping the Iraqi Dinar, that has not been the plan. Gradual elimination of the larger notes has been the plan. Unlike Korea (communist country) Iraq has promised to its people a return to currency with the purchasing power of pre-war times. Remember, when the new currency was introduced, Iraqis lost all of their savings and purchasing power. It would only be fair to return the losses back to the people. Iraqis became poor overnight and they just may become wealthy overnight... sounds fair.
older article ~ FACTS ABOUT THE IRAQI DINAR AND ITS HISTORY
On another note, IMO, Iraq has been the lynchpin for multiple currency revaluations. And, on one hand, until Iraq makes the first move, others may have to wait. Or, on the other hand, it is possible that all countries need to be in agreement before we see a move in currencies. On another important subject involving world currencies, currency swaps have taken place since 2008 and stopped on February 1st. This, IMO, is an important event that could help save the global economy. below are links that explain why I believe this. Not an expert and it's just my opinion.
CURRENCY SWAPS 2008-2009-2010 LINKS ~
Also, remember Iraq and CBI's Shabibi ~
MARCH 23 -24- 2010 - UNITED NATIONS "THE MONTERREY CONSENSUS AND DOHA DECLARATION"
Central Bank of Iraq's Governor, Sinan Shabibi and the United Nations - UN Meeting ...March 23-24-2010
*** IRAQ PLANNING CURRENCY REDENOMINATION ...
http://articlesofinterest-kelley.blogspot.com/2010/02/would-iraq-do-same-as-north-korea_23.html
igster yes there are banks right now who accept IQD and deposit into your account in USD and will do so after the revaluation.
TD bank in North East US does so at this time (buys and sells) as does Compass bank and a few others.
As soon as this happens most major banks will exchange or so I have been told.
Chapter 7 to be lifted in coming days!~
February 24, 2010
Zebari: The Security Council resolutions will pave the way for Iraq out from under Chapter VII
Foreign Minister Hoshyar Zebari told a joint press conference with his Swedish counterpart Carl Blapt in Baghdad, the Security Council was about to issue decisions in the coming days leading up to Iraq out from under the Zailp item VII.
Zebari stressed during the press conference, the UN Security Council issued a few days, confirm Iraq's compliance with the resolutions of the UN Charter and is free of weapons of mass destruction and its commitment to disarmament, calling it a major step out of the international sanctions imposed on Iraq following its invasion of Kuwait, the dictatorial regime of the summer of 1990 .
Zebari said that Iraq is making great efforts to improve relations with the Arab and Islamic states which must in turn also to take the initiative to respond to the Iraqi desire to develop relations, saying Iraq can not compromise on its interests and the fate of his people.
VinTV
related ~
Links ~ Iraq and the UN and Chapter 7
http://articlesofinterest-kelley.blogspot.com/2010/02/zebari-security-council-resolutions.html
Keep in mind the world markets will not all be closed until after 6 pm est friday.
Also we have the factors of Friday being the Holy day in Iraq and then Sunday the 28th is a holiday ( Muhammad's birthday) so all the banks will be closed in Iraq.
They could in fact wait until Sunday night to make the announcment and have it go into effect the morning of the 1st of March. (Monday)
We just do not know...so I am just going to wait and watch.
I have no idea the exact timing and there are so many differant things and situations in the mix.
Now IF we see monday morning come and there has been no change or major announcment then I will say this rumor was busted!
But I will not make any judgment calls on this one until Monday morning Iraq time.
Hopeing for the best!
Go DINAR!
IQD in @ .0009 HOLD!~
Interesting Chat log:
This was found else where and is not from me.
This a chat log that you may find interesting.
ema-266
-----------------------------------------------------
(Quote)
XXXXX says:
LET US GO OVER SOME THINGS THAT HAPPENED THE LAST LET’S SAY SINCE NOVEMBER.
THAT IS LEADING US TO HERE NOW
AND WHERE WE STAND
NOW SOME THINGS I WENT OVER IN MY MIND AND THE REASON I DID THIS. IS THAT EVEN I GET CAUGHT UP INTO THE EMOTIONAL ROLLER COASTER
AND FORGET SOMETIMES WHAT THE FACTS ARE THAT WE KNOW
BACK IN NOVEMBER WE KNEW THAT IRAQ HAD BEEN WORKING WITH THE IMF TO COME OUT WITH A RATE OF EXCHANGE FOR THE DINAR.
BUT FOR SOME REASON THAT WE MAY NEVER KNOW. THIS NEW RATE WAS PULLED. NOW IRAQ USED THE REASONING THAT IT WAS LEAKED OUT AND THEY WERE UPSET.
THEN WE HEAR THAT BANKS WERE NOTIFIED DOWN TO THE LOWER LEVELS TO BE ON WATCH FOR A CHANGE.
NOW WE HAD THIS CONFIRMED AT CORPORATE LEVELS THAT THEY INDEED WERE WATCHING. BUT AGAIN NOTHING.
THEN PRETTY DEAD ON THE IQD AND THE ELECTION BANNINGS AND THE RESURRECTION OF THE ON AGAIN OFF AGAIN REMOVAL OF CHAPTER VII REARS IT’S UGLY HEAD.
NOW WHO KNOWS EXACTLY WHO IS REALLY BEEING ALLOWED TO RUN.
AND WE KNOW THAT NOTHING HAS MOVED FORWARD TO THIS DAY ON CHAPTER VII.
NOW TOMORROW THERE IS AN EMERGENCY MEETING OF THE UNSC ABOUT IRAQ. I AM NOT EVEN GOING TO SPECULATE WHAT IT IS ABOUT THOUGH.
SINCE EVERY MEETING THAT SEEMS TO SUPPOSE TO BE ABOUT CHAPTER VII NEVER PANS OUT.
NOW WE HAVE THE ON AGAIN PROPAGANDA FROM THE U.S. AND FRANCE HOW WE AND THEY SUPPORT IRAQ FROM RELEASE OF TRADE SANCTIONS.
THEN IN BETWEEN ALL THIS NONESENSE.
A COMPLETELY NEW PHRASE OR WORD COMES INTO PLAY. WHICH WAS EVEN MORE CONFUSING TO ALL AND MADE MANY OF US ? WHAT THE HECK IS GOING ON NOW.
REDENOMINATION
THERE IS ANOTHER WORD THAT WILL BE BANNED FROM MY HOME AFTER THIS IS OVER
NOW REDENOMINATION IS ACTUALLY FOR TWO COMPLETELY ISSUES.
ONE IS BASICLY A LOP AND TO HELP OUT A FELDGLING COUNTRY WITH VERY HIGH INFLATION.
WHICH IRAQ IS NOT IN THAT CATEGORY
AND THE SECOND IS TO CHANGE A COUNTRIES CURRENCY VALUE
THEN TRYING TO MICRO THE MULTIPLE ALL THE CONTRADICTORY STATEMENTS BY THE MOF JABR AND THE ADVISOR TO THE CENTRAL BANK SALEH
THEN WE WENT AFTER A FRIENDLY ENEMY TO GET THE ANSWER
TO WTH IS GOING ON
AND THIS FRIENDLY ENEMY I BELIEVE HAS BEEN HONEST FOR SOME OF THE ANSWER.
THAT THERE IS NO LOP COMING AND THAT WE WILL GET THE EXCHANGE RATE THAT THE LOWER DENOMS PAN OUT TO BE.
ONE THING HIT ME TODAY LIKE A REVELATION
SOMETHING WAS BOTHERING ME ABOUT A STATEMENT IN ONE OF THE PROPOGANDA ARTICLES
THEY EXPLAINED THAT THE “PRE DENOMINATION VALUE OF THE 1OOO DINAR NOTE” WILL BE THE NEW VALUE OF THE “1 DINAR NOTE POST REDENOMINATION”
BUT
THEY DID NOT GO BACK AND SAY THAT THE 1K NOTE WILL STAY THE SAME
ONLY THAT THE 1D NOTE WILL BE THAT VALUE
SO I WENT BACK TO READ IT AGAIN
AND TO ME IF THEY WANTED TO BE TOTALLY CLEAR ON A LOP
THEY WOULD HAVE BEEN SPECIFIC THAT A 1K NOTE WAS STILL GOING TO BE VALUED AT .00086 RATE OF EXCHANGE
AND WE KNOW THERE IS NOT GOING TO BE TWO RATES OF EXCHANGE
THERE WILL BE ONLY ONE AND THEY CAN’T GO AND mess OVER THEIR OWN PEOPLE EVEN THOUGH THEY DON’T HOLD ALLOT OF IQD IN RESERVE ON THIER PERSON
THEN TWO THINGS HAPPEN QUICKLY SINCE LAST FRIDAY
FIRST THE US MILITARY GOES TO ONLY $20 USD NOW INSTEAD OF $200 USD
THEN YESTERDAY WE FIND OUT FROM ONE OF MY FRIENDS IN IRAQ THAT THAT IS NOW NOT ALLOWED
THAT ONLY THE EAGLE CARD AND A DEBIT CARD CAN BE USED.
AND WHEN THE CASHIER AT THE BASE PX WAS ASKED FOR WHAT REASON?
HE SAID HE THINKS THE DINAR IS HAVING SOME KIND OF CHANGE.
THEN WE GET INFORMATION FROM TWO SEPARATE SOURCES THAT SEVERAL ENTITIES HAVE BEEN INFORMED THOUGH CONFUSED THAT THEY WILL HAVE THEIR PAY RATES CHANGED
EX: 1.5 MIL TO 1500 DINAR AND 940K TO 940 DINAR
AT FIRST THEY THOUGHT THEY WERE ONLY GETTING A BIT MORE THAN A BUCK FOR FIGHTER PILOTS AND TEACHERS LESS THAN A BUCK
PROBABLY BECAUSE THE GOI DID SUCH A GOOD JOB INSIDE IRAQ ON THEIR MEDIA BLITZ OF BS
Med says to (21:46:05):
THEY SCARED THEIR OWN PEOPLE MORE THAN US
NOW ALSO WE GOT WORD AND I WAS TOLD I COULD USE IT AS FACT AND IF I WOULD HAVE GOTTEN IT FROM ANYONE ELSE BUT THIS PERSON. I WOULDN’T HAVE USED IT.
ONLY BECAUSE WE WENT THROUGH ABOUT 6 WEEKS OF MEETING AT THE BANK AND INFO THAT JUST HAD NO LEGS IN THE LONG RUN.
NOW DID ALI REQUEST ADDED SECURITY FROM THE POLICE CHIEF WHERE DT’S TX OFFICE IS GOING TO EXCHANGE AT?
A FRIEND OF THE CHIEF SAYS YES. MY ONLY CONCERN ON THIS IS AS YOU KNOW WE HAVE MEMBERS WHO WILL BE DOING SECURITY FOR ALI AT THE VEGAS EXCHANGE CENTER.
I AM SURE THEY WOULD HAVE BEEN CALLED AND GIVEN A HEADS UP.
I KNOW FOR A FACT THAT THEY WOULD HAVE CONTACTED ME IF THEY WERE.
NOW THE AIR FORCE COLONEL WHO IS TRAINING PILOTS IN IRAQ
HAS PASSED ON THAT THE MILITARY WAS INFORMED OR HE WAS INFORMED THAT THE RV WOULD HAPPEN THIS WEEK SOMETIME
MY ONLY CONCERN OF THAT IS THAT THEY GET PAID ON THE 1ST AND 15TH AND THOSE DATES SEEM MORE LIKELY
THOUGH IT COULD BE ANNOUNCED AS SOMETHING OFFICIAL BEFORE HAND.
OK I HAVE BORED YOU ALL ENOUGH HERE.
ALL DONE AND TY
(end quote)
No they said when they do this 1 Dinar will be @ or just above $1
so to have value to the lower denominations (the new currency) they must do the RV at the same time as the redenomination.
They have reduced the salaries as of March 1st and if they do not revalue the Dinar the school teachers in Iraq will make around $1 a month as of March 1st.
So for this to work and for the new budget to work they MUST do the revaluation at the same time.
Here in the US I do not think you will be able to get large quantities of the small notes in exchange for the larger notes.
And it has been stated by the minister of finace there will NOT be two seperate exchange rates or values at the same time.
So the value of 1 dinar will be the same no matter what the denomination.
So AFTER this novel event we will see as they have made clear 1 dinar will be at or just above 1 dollar.
So to answer your question AFTER this happens and while the larger zero notes are still in circulation but being removed (the removal of zeros) if 1 Dinar = $1 then a 25,000 dinar note will = $25,000
IMHO
Hope that helps.
Go DINAR!~
No Standard Lop!
I think what we are about to see is a novel event and a "hybrid re denomination" if you will.
I think we will see this combined with a revaluation. So they will revalue the IQD at the same time as the removal of the zero notes and we will see a combination of a massive revaluation hand in hand with the re denomination done by having the lower denominations placed into circulation at the same time and over a short time remove the higher denoms.
Also people have attempted to back engineer this event with incorrect or missing data.
It seems time and time again people confuse the actual currency in circulation with the M2 and you will even see lengthy rants on the M2 of Iraq.
Well the M2 is NOT the amount of physical currency in circulation but a combination of physical currency and electronic digits and deposits and not the true physical currency amount.
The actual physical currency amount of any nation is the M0 and NOT the M2 so most negative commentary on the future exchange rate of the Iraqi Dinar is based upon the wrong data set , the M2 and being so is flawed from the onset and therefore impossible to be true.
There has never been published anywhere that there was more than 9 trillion IQD ever printed.
And that 9 trillion was reported to be 14 denominations and of those 14 denominations 5 have never been seen (lower denoms) and when they exchanged the old for the new only 4.5 trillion were placed into circulation.
The CBI Governor. said last fall in an interview that there was less than 4.5 trillion in circulation (M0) and that they were removing currency from circulation on a regular basis at that time.
So all of the talk of 35 trillion physical dinar in circulation is impossible.
But if we are talking about M2 then yes those high numbers are real but only as M2 and not M0 (physical currency).
There has never been any articles ever printed saying more dinar was ever printed above the first printing of 9 trillion of which a little over half of that amount was placed into circulation.
The true fact is that many of those false high numbers came for published M2 numbers. But what few know is that the M2 of any nations is not the physical currency in circulation. The M2 is a combination of physical and digital.
The true amount of currency in circulation is the M0 or (M Zero).
So the number needed to back any accurate attempt as many have done is the M-0 (zero) and not the M-2.
Now here is the other problem, The actual M-0 (zero) of Iraq is classified and the evidence of it being classified can be found on the CBI site itself.
The evidence of this is not an admission of this fact but the “omission” of facts.
You see there are no current and accurate accounting facts for the CBI that are open to the public as the only most recent accounting data is from 2008.
So all of the hard work by many has been falsely based upon incorrect or missing data.
The reason for this missing data and hiding of facts is done as an attempt to stem speculation and confuse those who try in vain as many have to back engineer the data to come to any useable conclusion which as you can now see is not only futile but impossible.
So most all talk of these high numbers of IQD have all been based upon incomplete or missing data and also on the wrong data set (M2 instead of M0) and therefore cannot be correct in any way.
No Lop buy the removal of the zeros is just the removal of the higher denominations while the new currency is the lower denominations and this will all happen at the same time as the revluation to at or near $1.
IMHO
Go DINAR!~
Today: Iraq IMF Article IV Meeting
Article IV meetings cover exchange rates. fwiw
February 19, 2010
Iraq - February 24, 2010 - IMF Stand-By Arrangement Meeting
Country: Iraq - Title: 2009 Article IV Consultation and Request for a Stand-By Arrangement
http://www.imf.org/external/np/sec/bc/eng/index.asp
Iraq Begins Participation in the IMF’s General Data Dissemination System
Press Release No. 09/460
December 15, 2009
The Republic of Iraq began participating today in the International Monetary Fund’s (IMF’s) General Data Dissemination System (GDDS), marking a major step forward in the development of its statistical system. Comprehensive information on Iraq’s statistical production and dissemination practices now appears on the IMF’s Dissemination Standards Bulletin Board
http://dsbb.imf.org/Applications/web/gdds/gddscountrylist/
“Iraq is committed to use the IMF’s General Data Dissemination System as a general framework to continue developing the national statistical system consistent with best international practices,” Dr. Sinan Al-Shabibi, Governor of the Central Bank of Iraq, said. “The participation of Iraq in the GDDS will also lead to the production and dissemination of more reliable and timely statistics.”
Ms. Adelheid Burgi-Schmelz, Director of the IMF’s Statistics Department, welcomed Iraq’s participation in the GDDS. “Iraq’s participation in the GDDS is a major milestone in the country’s statistical development,” she said. “I am confident that Iraq will benefit from using the GDDS as a framework for further development of its statistical system.”
The GDDS was established by the IMF in 1997. It provides a framework to help countries to develop their statistical systems to produce comprehensive and accurate statistics for policymaking and analysis. With the addition of Iraq, 97 countries currently participate in the GDDS.
_______________
Dissemination Standards Bulletin Board (links ...)
Search Tips Special Data Dissemination Standard Site(SDDS)General Data Dissemination System Site(GDDS) Introduction Metadata What's New Contact UsData Quality Reference Site (DQRS)
AS PROVIDED BY IRAQ AS A PARTICIPANT IN THE GDDS
More information on Iraq and the IMF
IraqIndex of Tables
Summary Tables Tables A & B Table C
http://dsbb.imf.org/Applications/web/gdds/gddscountrycategorylist/?strcode=IRQ
http://articlesofinterest-kelley.blogspot.com/2010/02/iraq-february-24-2010-imf-stand-by.html
Today: GCC Meeting
6th GCC Economic Forum
February 24, 2010
Burj Al Arab Hotel
Dubai, UAE
The GCC Economy is facing many challenges, especially in view of the pressures of globalization and the impact of the latest world financial crises on GCC economy and its future. In order to achieve stable economic environments, regional economies need to streamline and optimize their existing business and economic relationships. It is true that the rising price of oil has made these countries financially stronger, but it might not always be the case, the price of oil may fall and it added another magnitude to the economic and business challenges they face.
The 6th GCC Economic Forum addresses these challenges and the need to share ideas on the impact of the latest world financial crises on GCC economy, successful economic practices, better trade policies, and financial and banking systems that create a sound platform for robust business and economic relations among the region's economies. This forum is an ideal business and economic knowledge-sharing and networking platform for government and business decision-makers and professionals from the GCC, as well as those from other parts of the world who are interested in doing business with the GCC.
The forum assumes special significance in the current scenario in which the GCC Countries are looking forward to creating and encouraging increased business, economic, and knowledge exchanges between them. Joining the event is a unique opportunity to meet key economists, business leaders, senior government officials, researchers, and experts from GCC organizations.
What will be discussed?
The forum through many live regional case studies will focus on the impact of the latest world financial crises on GCC economy and its future, economic practices, better trade policies, and financial and banking systems that create a sound platform for robust business in the region. The event is an opportunity for delegates to explore the possibility of developing a stable business environment within the region where they can develop mutually beneficial business options.
Through a look at innovative ideas and success stories from other developed countries, this forum will shed light on all the factors that can possibly contribute to the development of the regional economy. It will also discuss moving beyond an oil based economy and entering an era of manufacturing and industrialization.
Who Will Attend?
Senior executives and experts with an interest in the progress of the GCC economy will attend the conference, including:
*High-ranking Government Officials and Representatives
*CEOs, Presidents, Chairmen, Managing Directors
*Bankers, Economists, Financial Analysts
*Leaders of Business Councils, Chambers of Commerce and Industries
*Business Organizations
*Academic, Researchers and Media
Why Should you attend?
*An event that directly addresses prominent GCC economic issues
*Many live regional case studies to learn from
*The best place for sharing ideas on future developments in the GCC economy
*An opportunity for developing new business relationships and forming new partnerships
*Prestigious speakers and a very complete event program
Note: Bear in mind that the schedules of high profile speakers are subject to alteration.
http://articlesofinterest-kelley.blogspot.com/2010/02/february-24-2010-6th-gcc-economic-forum.html
So you are "all out" and sold all of your IQD?
Also you ask "what is real DD"?
Real DD is based upon FACTS not FEARS.
100% factual information that is not biased by the doubts or fears of the emotional mind but balanced by logic.
I get the strong impression you allowed someone who was bashing the dinar based not upon facts but personal doubts and fears influenced you to the point that you doubted in your very own DD.
I know this because I read back and saw this "someone" present their non fact based fear to you and was stunned to see you go weak handed and fold all based upon non factual information and even concede to information that you yourself know is not true based upon some of your own initial DD that I saw and was part of.
This "person" who presented this strong fear based "non factual" line of thought to you also attempted that on me.
But with facts, links and DD he was proven 100% wrong by me and he was found to have had no factual accurate information to back his own fear based line of flawed disinformation.
This "person" then became so agitated and frustrated with the fact that all of my factual DD was and is so solid and they had nothing to back up anything they were saying!
Nothing! Not one fact, not one link and not one single factual proven bit of Due Diligence.
So this "person" lost it!
And being the classic basher resorted to tactics of insults and attacks.
People who do personal attacks do so because they have failed to bring forth any factual or logical information to back any of their false claims.
So...that "person" who out of total frustration and lacking of any "intellectual ammo" totally lost it and was banned by the IH admin because of the personal attacks and lies.
Strongtower...nothing personal because I always liked you but I must say i was so surprised to see that you had been talked out of your own due dilligence by someone who had no facts to back up their negative statements.
Some of the e-mails you shared with me and some of the reasons for your personal strength in the belief of our initial DD in this and even the research you did on the gold situation and your historical findings on the Iraqi Dinar were top notch and 100% factual DD.
So I was so very surprised to see you had allowed someone with zero facts...zero DD and who held zero dinar talk you out of something I know you believed in.
Anyway...best of luck with your new gig.
ema -266
Oh my God...look at what the cat drug in!
LOL! No Strong...I think your number is low...I am sure we have seen more rumors than that.
Ok...I asked you before and you never answered...you still have a position?
Or are you all out?
Agree...stimulating debate is needed, balanced and healthy.
As long as we all do not violate the TOS by personnal attacks or threats all views and comments are not only welcome but needed.
Thanks for all of your views tryoty and everyone else who adds to the debate or DD.
Yes I am strong willed but only based upon my own DD which so far has not been disproven.
BUT! As we all know....which way this thing is going to go we will all soon know.
Am I right? I think I am and I hope I am.
But that is only IMHO based upon my own DD.
Thanks tryoty.
Go Dinar!
(so tryoty can add zeros to his check book)
Joey, no...only a few are doing so and the way it looks you can forget that year timeline.
Looks like we are right on this thing and only the ones with vision will reap the rewards.
So we will be the lucky ones.
IMHO
And this is the easy part.
The hard part will be to keep and grow your profits.
Best of luck to ALL!~
Go DINAR!~
Rumors Du jour
Note: None of these are from me and all were found elsewhere.
RUMORS*
RUMOR 1.
HAVE SOME BREAKING NEWS
XXX says to (06:55:42): OUT OF IRAQ FROM DINAR KING
XXX says to (06:55:48):IT IS GREAT NEWS
XXX says to (06:56:21):
DK AND MY FRIEND HARRIS CHECKED AT THE FINANCE
AND PX WHERE THEY SELL DINAR AND GET CASH
X says to (06:56:42):TODAY HE WAS JUST TOLD
THEY CANNOT USE CASH ANYMORE
X says to (06:56:45):ANYWHERE
X says to (06:56:59):THEY CAN ONLY USE THE
EAGLE CARD AND ONE OTHER CARD
X says to (06:57:16):HE ASKED WHY AND THE
MAN TOLD HIM THAT MAYBE THE DINAR IS CHANGING
X says to (06:57:22):HE SAID HE WAS SHAKING
X says to (06:57:29):THIS IS HUGE NEWS
X says to (06:57:48):AND PLEASE DINAR KING
IS THE ONE TO THANK
X says to (06:58:06):I AM ONLY PUTTING IT ON
BECAUSE HIS INTERNET IS TOO SLOW TO GET ON HERE
RUMOR 2.
OK BREAKING NEWS
X says to (20:16:53):
STOP AND TAKE A SEAT
X says to (20:17:20):
I WAS GIVEN THIS JUST MINUTES AGO
X says to (20:17:32):
I WAS GIVEN IT AND ASKED TO POST IT AS FACT
X says to (20:17:57):
#1) TOP DALLAS TRADER CONFIRMS THAT THIS WILL BE LAST WEEK FOR DINAR SALES IN US
X says to (20:18:31):
#2) xxx (a known dealer) CONTACTS POLICE CHIEF WAXACHACHIE TX AND SAYS WILL NEED ADDED SECURITY BY ENF OF WEEK
says to (20:18:40):
ON #2
X says to (20:18:51):
MAKE SURE THAT WHEN YOU TALK TO A CHIEF OF POLICE
X says to (20:19:00):
HE IS NOT THE GOOD FRIEND OF ONE OF MY MEMBERS
X says to (20:19:11):
THAT IS ALL I HAVE
RUMOR 3.
Hi, just like to add a little intel to confirm what has been said.
I live in Asia and we get our Dinars over the counter. Over time I built a relationship with the main dinar supplier here and meet him often. You can describe him as the xxx (dealer) of the Far East. Whenever there’s rumor of an impending RV, I will ask him for confirmation and he just says not yet. He doesn’t pump as he doesn’t like his clients to buy more than they can afford. But he is the main supplier to a few countries over here.Middle East. That caught my attention.
I live in xxxxxxx
Today I brought an acquaintance to buy dinars and this friend having just got a confirmation from God to invest, decided to take the plunge and bought all the existing supplies. He wanted to buy more and the supplier said that only if he puts a deposit then he’ll make a special order and the deposit has to be in within the hour or he will not do it. I asked him why and he just said that he needs to make the order ‘in time’ to be shipped from the
I asked him later if he has any news if the RV is coming. And for the first time, he said that by the end of this week, it’ll happen. He said that this time his info is very strong and he has cut down his dinar supplies to avoid problems in case it RV’s when someone orders and not delivered on time.
That’s it. Take it for what it’s worth. This source is definitely not the same as what you get on the forums.
*The definition of a RUMOR:
A rumor or rumour (see spelling differences), is often viewed as "an unverified account or explanation of events circulating from person to person and pertaining to an object, event, or issue in public concern" (33)[1] However, a review of the research on rumor conducted by Pendleton in 1998 found that research across sociology, psychology, and communication studies had widely varying definitions of rumor.[2] Thus, rumor is a concept that lacks a particular definition in the social sciences. But most theories agree that rumor involves some kind of a statement whose veracity is not quickly or ever confirmed. In addition, some scholars have identified rumor as a subset of propaganda, the latter another notoriously difficult concept to define. A pioneer of propaganda studies, Harold Lasswell defined propaganda in 1927 as referring "solely to the control of opinion by significant symbols, or, to speak more concretely and less accurately, by stories, rumors, reports, pictures, and other forms of social communication" (1927:9).[3] Rumors are also often discussed with regard to "misinformation" and "disinformation" (the former often seen as simply false and the latter seen as deliberately false, though usually from a government source given to the media or a foreign government).[4] Rumors thus have often been viewed as particular forms of other communication concepts.
Read more on Rumors:
http://en.wikipedia.org/wiki/Rumor
G-20 meeting Feb 27-28
World's Eyes Are on Incheon
The First G20 Meeting Is Held on February 27-28 in Songdo ~
In Korea, a global event which will upgrade “Korea’s Status” on the international stage takes place in November 2010. The very occasion is the G20 Summit Meeting. A total of seven G20 meetings are open this year. They include two Deputies’ Meetings, two Finance Ministers and Central Bank Governors’ Meetings and one Summit Meetings.
The kick-off event of the eight G20 gatherings is the Deputies’ Meeting from February 27 to 28, 2010 held in Songdo Convensia in Incheon.
The G20 Summit Meetings will contribute to the promotion of Korea, improvement of its national brand, and image upgrade. To the world’s citizens, Korea is still not well recognized. Many foreigners confuse South Korea with North Korea. Against this backdrop, the first Deputies’ Meeting is a chance of lifetime to promote both Korea and Incheon in the world.
Korean President Lee Myung-bak & UN Secretary General Ban Ki-moon recommended Songdo
President Lee Myung-bak and UN Secretary General played a critical role for Incheon to be chosen as the venue for the first Deputies’ Meeting prior to the G20 Summit. President Lee said at the opening ceremony of the 2009 Incheon Global City Festival, “The G20 Summit takes place in 2010, and I wish the heads of countries in the world will have an opportunity to visit Songdo.” In addition, Secretary General Ban announced at the 2009 Global Environment Forum, “The most effective way to promote Korea in the world is to show Songdo to the heads of countries.” The remarks were the flare of Songdo’s designation as the venue for the first Deputies’ Meeting.
Songdo’s designation as the venue for the first of the eight G20 gatherings in Korea testifies that the city is a place where green growth and ubiquitous systems are realized. Songdo meets the concept and issues which the G20 Summit stresses. The Deputies’ Meeting is the first G20 gathering that Korea is to chair, and that deals with the key agendas of the 2010 G20 Summit. As the first Deputies’ Meeting is held prior to the G20 Summit in Seoul, its success will play a significant role in stamping a good image on Korea and improving Korea’s credibility.
Proposal of Incheon Tour for G20 Meeting Participants
The agendas for the G20 Deputies Meeting have not been decided yet but it is very likely that main discussions will be on the speed of the economic recovery and the management of the world economy after crises.
The first G20 Finance Deputies’ Meeting is held in Songdo Convensia for two days from February 27, 2010 as closed-door. The conference is centered on discussions so sideline events that usually accompany meetings are not provided. The main event hall is the Grand Ballroom at Songdo Convensia, which was evaluated as the optimal meeting venue where the participants can observe the Incheon Sea and Incheon Bridge.
Vice finance ministers and vice governors of central banks from member nations have a tight schedule for two days and one night. They will continue to be involved in a series of meetings for two days from February 27, the day they arrive in Songdo from Incheon International Airport. To save time, they will not have a separate time for lunch and dinner. Instead they will have meals during the meetings.
Incheon City plans to extensively promote the city in international society through G20 Summits. During the G20 gatherings, five billion citizens of G20 member nations will watch Korea and Incheon through broadcasting by the World’s major media companies including CNN and the BBC. With the event, not only Korea, but also Incheon’s brand values will be enhanced.
Incheon has developed a special tour course to show Incheon to the heads of G20 member nations considering their tight schedule. The course takes about one and half hours, covering the observation Deck on the 65th floor of the Northeast Asia Trade Tower, Underground conduits & Automated Pneumatic Waste Collection Facilities and the Incheon Bridge.
Tour courses for other G20 participants and media staff are always available during the gathering period. Incheon plans to show its diverse aspects by providing multiple tours: Songdo – Youngjongdo Course; Songdo – Wolmido Island – Open Port Course; Incheon Sea Course; Incheon Ganghwa Course.
The city has already submitted a proposal regarding Incheon Songdo tour courses to the Presidential Committee for G-20 Summit. It is said that the committee is positive toward the tours for media staff if adjusting the schedule is possible while saying changing the schedules of the summits and their spouses is difficult for the special tour.
lhnews.com
related ~
Links to South Korea Articles
http://articlesofinterest-kelley.blogspot.com/2010/02/february-27-28-2010-first-g20-meeting.html
People can disagree all they want...but the facts are 100% true and factual, documented and real.
So there is no "maybe" about it.
Either it is true or it is not.
And what I shared is not a "maybe" but a 100% real and TRUE documented FACT!~
I provided a link to the IMF historical exchange rates for the Iraqi dinar.
That link and those facts are the real deal...no speculation...no rumor...all 100% fact.
Long before Saddam Hussain was the President of Iraq the Iraqi Dinar was over $3.20+
And that fact that when Saddam Hussain was still a baby the Iraqi Dinar was at its all time highest OFFICIAL value of $4.86
So the people you know can disagree all they want...but the facts remain.
And the facts are the facts....like or not.
Best of luck to all!
Go DINAR!~
French ambassador in Baghdad:
Paris is ready to mediate between Iraq and neighboring countries and will act to support Iraq out of the seventh item was President of the Security Council
And that Iraq is the sectarian crisis left to the project proceeded after the national electoral coalitions to restructure itself, according to what the Iraqi street, pointing out that his country was willing to mediate between Iraq and neighboring countries.
The Bwalun of ife that this is proof positive change for the better future of the country and overcome the difficulties encountered by sectarian Iraq for years.
He explained that France will move towards supporting Iraq out of the seventh item was President of the Security Council this month, will support Iraq's demands in this regard.
He pointed out that progress on the political side encourages such a step, and that the elections will be decisive for the fate of the country.
He stressed that the need to avoid political crises during the elections, pointing out that the tension is normal during the competition in the electoral campaigns, but one must avoid any political crisis at the moment because such crises could be construed to unsatisfactory results.
He pointed to the over 130 observers from France to monitor the parliamentary elections to be held on the seventh of March (March) next, with stuffed in the provinces of Karbala and Basra, as well as five parliamentarians to visit Iraq during the elections for the conduct of the operation in Baghdad and Kurdistan, including Maurice Ogoa Vice-President of the National Assembly.
The Bwalun that the French government appreciates and blessed to mobilize the Iraqi government security forces and state organs to the success of Iraqi elections, and it rejects any interference from neighboring countries or countries in the region in the internal affairs of Iraq.
He explained that the French government would not mind to play a mediating role between Iraq and neighboring countries in case of unanimous Iraqi factions at home on this matter, at the request of the Iraqi government.
The French Industry Minister Christian Astrozzi visit Iraq officially next Thursday, with four Frenchmen and 20 deputies of the heads of the major investor of French companies to sign a series of important projects, which previously agreed with the Iraqi government.
The is the first time he visited the Minister of Industry of France and the Republic of Iraq, pointing out that among the projects agreed upon the establishment of Baghdad Metro project and the establishment of a space satellite.
http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF-8&langpair=ar%7Cen&u=http://www.baghdadtimes.net/Arabic/index.php%3Fsid%3D58769&rurl=translate.google.com&twu=1&usg=ALkJrhgQXIylBFFFMArqWnyDu1em7AQuyg
Incorrect. Here is the TRUTH on the Dinar
This was on the open market for years and here is a link from the IMF with the historical proof of same:
You will notice that when Saddam Hussain was born in 1937 the official exchange rate for the Iraqi Dinar was $4.86
And before Saddam Hussain was even elected President in 1979 the officical exchange rate for the Iraqi Dinar was $2.80
So please note that all of the talk about the high exchange rate of the Iraqi Dinar being false and made up by Saddam Hussain is false disinformation being spread in an attempt to stem speculation.
Here are the TRUE facts.
1932–1949
Iraqi dinar (ID) equaled US$4.86 between 1932 and 1949 and after devaluation in 1949, equaled US$2.80
1949–1971
between 1949 and 1971.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.
1959–1967
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.
1980It remained at this level until the outbreak of the Iran-Iraq War in 1980.
1982In 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.
1988In 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.
1986–20031986–2003 between .33 cents to 1.32 to a dollar.2001Oil-production: 2.452 million bbl/day (2001 est.); note — production was disrupted as a result of the March-April 2003 war (2001 est.)2002GDP: purchasing power parity — $58 billion (2002 est.)
2002Exports–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)2003In october 2003, the official Dinar-dollar exchange rate was ID1 to US$0.00027.
2004–2005August 2004 till 2005, the official dinar-dollar exchange rate is ID1 to US$0.00068. Population: 25,374,691 (July 2004 est.)2006As of Jan 1st 2006, the official Iraqi dinar-US dollar exchange rate is ID1 to US$$0.00067. Positive Changes in Iraq
Link to the IMF historical rates for the Iraqi Dinar.
This is the true and factual official rates recognized by the IMF the United States and the world:
http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=460&date1key=2008-08-31&category=EXCHRT
Hope this helps.
GO DINAR!~
Great post! Agree 100% eom.
"The Office of the U.S. Nations for emergency operations "
February 23, 2010
America proposes the establishment of a single organization oversees the reconstruction of Iraq
Agency proposed to control the U.S. government's reconstruction work in Iraq, the establishment of a single organization to oversee the operations in the future to avoid fraud and misappropriation of funds.
According to media sources that the report issued Monday by the Office of the Special Inspector General for Iraq Reconstruction that the organization has the sole authority for reconstruction will eliminate most of the unrest and rivalries that impeded the work of reconstruction in both Iraq and Afghanistan, noting that the agency proposed the creation of an organization called "the Office of the U.S. Nations for emergency operations "to oversee all aspects of reconstruction including contracts and budgets, the report pointed to the need for the establishment of the Organization through the Congress to be autonomous.
The process of reconstruction in Iraq has included 62 different agencies including the Ministry of Defense and the Ministry of Foreign Affairs.
The report said the reconstruction obtained with recording little coordination between various institutions, which led to waste a lot of taxpayer money, explaining that the figures indicate Loss of hundreds of millions of dollars.
The report did not "United States money or staff or information technology or systems contract in the proper place for the implementation of what has become longer and more expensive process of stabilization and reconstruction in history."
For its part, ruled out the U.S. State Department to create this organization because it will ask a special federal funding,U.S. Assistant Secretary of Defense Michele Flournoy in a written reply that he must reform the existing institutions rather than creating new institutions.
It is noteworthy that the cost of reconstruction in Iraq amounted to about $ 53 billion, and is the largest incurred by the United States, the Marshall Plan after World War II, but most Iraqis still complain that this process did not occur a lot of change in their lives where they continued to face problems in access to electricity, clean water, health care and housing.
http://www.uragency.net/
Pleased be advised. This is 2010 not 2008.
Also...one more time...those are M1 and M2 numbers....NOT M0
fwiw
GO DINAR!~
Rumor.
Note: This is not from me.
This will be he last week for Dinar sales in the USA.
This rumor was to have come from a major dinar dealer in Texas and was reported by someone else.
The RUMORED reason for this stopping of dinar sales is that the RV will happen before the 1st of March.
Take it for what it is...a RUMOR!
Go DINAR!
IQD in @ .0009 HOLD!~
Remove Iraq from Chapter 7
February 23, 2010
The French ambassador: We will work to remove Iraq from Chapter VII
Advertise near a large delegation to visit Baghdad
????? – ?????? BAGHDAD - morning
Promised the French Ambassador to Iraq Boris Bwalun endeavor of his presidency during the next session of the UN Security Council to take the country out of the pain of Chapter VII.
Announced Bwalun of France near the delegation's visit to Baghdad under the high and the economy Ziralsnaap Cristian Astzoi together with four deputies from the French National Assembly, and a number of companies specialized in the fields of water, transport and health, revealing to go to the opening of the French Center for business to provide facilities for investors and businessmen. The French ambassador said During the round table held yesterday with a limited number of newspapers attended «morning», said the visit is to activate diplomatic cooperation frameworks between the two countries by launching a development program for financing of the French social and economic projects of NGOs, noting that the delegation will also meet a number of stakeholders and officials in the country.
In response to a question »Sabah» on support for Iraq in international forums, said the French ambassador to his country is seeking to pull Iraq out of Chapter VII of money after chairing the next session of the UN Security Council, noting that Paris is looking forward to seeing Iraq as a stable and strong work to build their own and guarantee the rights of people and to protect its democratic system.
It is said that the UN Security Council has put Iraq under Chapter VII of the Charter of the United Nations after Saddam's invasion of Kuwait in 1990, but after the fall of the dictatorial regime in 2003 there is no longer any justification for the survival of the country under Chapter VII , especially after Baghdad fulfill all its obligations, according to the announcement most of the leaders in the state. Bwalun He said: We hope that the forthcoming elections in the empowerment of Iraq, both in international and regional levels and consolidate the new democratic experiment, stressing his country's determination to participate in monitoring the elections by sending 130 observers distributed among the governorates of Baghdad, Karbala and Basra, in addition to the Kurdistan region.
http://articlesofinterest-kelley.blogspot.com/2010/02/political-first-french-ambassador-we.html
Fact: As I requested you again fail to provide the CURRENT M0 number of Iraq with a link.
As you see yourself that data is from 2008 and has no factual meaning to todays situation.
There is a reason the current M0 data is classified...and that is to prevent people from knowing the true value of the IQD.
And yes...history may find me to be a fool but you buy your own doing have proven yourself as one this very day.
Note: Today is Feb. 22nd. 2010
Thanks again.
Go DINAR!~
As I expected you cannot back up your misleading statements.
But you did honor my request and for that I say thanks.
I asked that you prove with link the data needed to back your brazen statements and as seen you cannot.
So my challenge that you "put up or shut up" has been honored.
Thanks.
Also...as expected, when all reason and logic fails....result to insults.
Quote: "this board is a joke"
Thanks for the insult.
See you after the RV tryoty and the best of luck to all!~
Go DINAR!~
IQD in @ .0009 HOLD!~
I do not mislead but you do mislead.
I present facts with links.
You present M0 amounts as if they were factual and documented but they are not.
The true fact is the actual M0 of Iraq is classified and cannot be found anywhere.
The only M values to be found on the accounting records of the CBI are the M1 and M2 values and not the M0.
The reason this M0 data is missing is to prevent the very thing you are attempting to in vain which is by the use of available factual data you have attempted to back engineer the numbers provide by the CBI to attempt to place a potential value upon the Iraqi Dinar.
There is a reason for this missing data and that reason is to stem speculation and to cause doubt and confusion and it is apparent from your very writings that this has been extremely effective.
So tryoty I challenge to to this task:
1. Either find the actual official data with a link to the current M0 of Iraq.
OR.
2. Concede to me that you do not have that fact to make such brazen and bold statements as you do
In short...put up...or shut up.
Also...I present to you and all for your own edification of all the study done by the Iraqi Ministry of Planning on the true value of the Iraqi Dinar and I ask you....WHO has the correct data?
YOU?
or the Iraqi Ministry of Planning?
This official study done by the Iraqi Ministry of Planning says the official exchange rate for the Iraqi Dinar is $3.20 but calls for the use of a lower rate as per this study and that lower rate is $1.13
You will see that this rate came from the Iraqi Ministry of Planning!
This came right from the Government of Iraq and this most recent study presented here was from October 2009 and is the second one I have seen presented in 3 years.
The Exchange Rate of Foreign Currency in Economic Feasibility Studies Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
=================================================================
Ministry of Planning government of Iraq
Estimate the shadow price of foreign currency:
1.It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.
The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.
* What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.
In particular the following outputs and inputs of foreign currency were distinguished:
·Export-outputs.
·Outputs marketed locally that substitute imports.
·Imported inputs.
·Inputs produced locally that usually go to exports.
·Foreign labor.
According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.
In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).
In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.
2.Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.
The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:
·The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
·The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
·The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
·The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
·This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.
And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.
3.Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
http://www.mop-iraq.org/mopdc/index.jsp?sid=1&id=308&pid=295
Go DINAR!~
IQD in @ .0009 HOLD!~
Robin that is the 1,000,000 Dinar question.
Those who say Iraq is about to lop would say that was true.
But those like myself who say it will be a novel revaluation/redenomination say the value of 1,000,000 IQD will be worth at or near $1,000,000.
Fact is....we will soon see who is correct.
The best of luck to all.
Go DINAR!
IQD in @ .0009 HOLD!~
Bin Laden wins?
Well Bin Laden is Saudi....and has nothing to do with Iraq.
And with Iraqi being a successful democracy and also becoming the wealthiest nation on earth it will be the people of Iraq and the region who win.
There is much commentary from many sources all saying that the Gulf Region of which Iraqi is part of is indeed the center of all global wealth and in the hands of a free and open democracy the winners will be all of us who hope and strive for peace and prosperity for all.
Also...there is a very good chance the Iraqi Dinar will be converted into the Gulf GCC Dinar within the next 12 months.
So your plans to hold Iraqi Dinar for a few years may very well be cut short. FYI
Also...
You say Quote: "If the fantasy/lunacy happens, I'll be giggling to the bank like everyone else"
It may appear as fantasy.
But I ask....
Was it a fantasy that over night the Iraqi Dinar was devalued from $3.20 to .0009 wiping out all personal life savings and wealth of all the peoples of Iraq in one day?
Was it a fantasy that in Kuwait during the war the Kuwaiti Dinar was deemed worthless and could be bought for .05 cents each?
To only a few months later be fully accepted again at the value of $3.47?
So the documented historical fact that the Kuwaiti Dinar jumped overnight from .05 cents to $3.47 was fantasy?
No fantasy my friend.
It was as real as real can be.
You see the situation in Kuwait created by the war was a "novel
situation:....and being a "novel situation" it required a "novel solution" and as we see...that "novel solution" equated into over night wealth for those with vision.
I will end this by stating what i have here in the past...and that is that what we are about to see in Iraqi is a "novel solution" to a "novel situation".
IMHO
Yours truly,
Mr. Fantasy
a.k.a.
ema-266
Every penny. Privacy = safety. eom.
Billion loan from Japan to Iraq
BAGHDAD (Drabin): Japan and Iraq signed in Baghdad on Sunday under which the Convention on the recent loan of one billion dollars for the creation of several service projects in the provinces of Nineveh, Anbar, Salah al-Din, as well as the Kurdistan region of Iraq.
The agreement, signed by Iraq and the Finance Minister Baqir Jabr Japan and its ambassador in Iraq, Shaggy, Tohru Ukawa, the Japanese government's commitment to provide a loan worth up to one billion dollars to the Iraqi government to finance three projects, including three service stations, processing water in the provinces of Nineveh, Salahuddin and Anbar, a rate of one in each province and the establishment of a power station (crutch) in the province Anbaro, the establishment of a power plant in the Kurdistan region of Iraq.
It also states that "the term of the loan (40) years, including (10) years grace period, and (30) years to repay the loan at an interest rate 0.65% per annum"
Iraq has had previously signed a loan agreement with 12 countries in the world to finance 12 projects at a cost of $ 2.4 billion covered the sectors of electricity, water, ports, roads and oil.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.darabeen.com%2Findex.asp%3Ffname%3D%2F2010%2F02%2F02-03%2F2010-2-3-22-3-21.htm%26dismode%3Dx%26ts%3D03%2F02%2F2010%252010%3A05%3A43%2520%25D9%2585&anno=2
related article ~
Baqir al-Zubaidi: Japan loan of one billion dollars to finance three projects in Iraq service
http://articlesofinterest-kelley.blogspot.com/2010/02/billion-loan-from-japan-to-iraq.html
Dollars becoming scarce as Iraq currency
February 18, 2010
13th Sustainment Command Expeditionary Public Affairs
U.S. currency may soon become difficult to find in Iraq as part of an effort to protect Soldiers and increase the value of the Iraqi dinar.
Sgt. Brittany Raimer, a dispersing manager with the 368th Finance Management Company, 36th Sustainment Brigade, 13th Sustainment Command (Expeditionary), said eliminating the use of U.S. currency on the battlefield will help to stimulate the economy of Iraq.
“One of the main focuses of finance is to ultimately eliminate U.S. currency from the battlefield,” said Raimer. “Our government is implementing the use of the Iraqi dinar to undermine the dependency the Iraqi nationals have on American currency and to back the Dinar, greatly increasing its weight on the market.”
The use of electronic fund transfers to pay vendors and contractors, and urging service members to rely on the Eagle Cash Card, rather than cash, are two major changes that have been implemented in Iraq to eliminate the use of cash, said Raimer.
“The Eagle Cash Card enables personnel to have a direct link to the bank account without the hassle of hard cash,” said Raimer. “The stored value card has been instrumental in effectively moving toward a cashless battlefield.”
Sgt. Toni Guillery, a dispersing agent with the 368th, said the Eagle Cash Card is designed to help prevent service members from losing money or being robbed while in country.
“Carrying a single card is better than carrying a wad of money in your pocket, but one concern that I do have is ... on the kiosks, you have to use a pin number in order to access the money, but when you go to vendors, you do not,” said Guillery. “If you (fill the card) up to the max, and you lose that card, and somebody picks it up and finds it and they are a dishonest person, they can go and spend that money.”
Guillery said the unit only disburses U.S. currency to service members who are about to go on mid-tour leave or re-deploy.
Guillery said the unit disburses less than $10,000 in U.S. currency per month, but disburses more than 351,000,000 (IQD), the equivalent of roughly $300,000, per month.
The current exchange rate is 1,170 to $1, said Guillery.
Raimer said the transition away from the U.S. dollar has aided the progression of the banking industry in Iraq.
Raimer said, “the progression (away from U.S. currency) has greatly supported the modernization of the banking system, thus improving and instilling trust in the local economy.”
http://www.lcni5.com/cgi-bin/c2story.cgi?953+20100218112237953953001+AroundtheForce
Here is your answer from an Phd. Economist:
You said:
"You never answered me, even if no dinar beyond the 9 trillion announced were ever printed, 4.5 trillion of which is in circulation, how do you totally discount that a RV to a buck would STILL put Iraq's money in circulation at 4.5 trillion dollars, which exceeds the value of all of the currencies on the planet."
Please note the Oil prices used when Dr Thompson wrote this....you can now DOUBLE these numbers!
A Crude Look at Iraqi Wealth
Henry Thompson
PHD International Economics
Auburn University
Iraq is a wealthy country and every Iraqi is a present value millionaire and wealth in the world has shifted toward the owners of crude oil. Over the next two decades, total world energy consumption will almost double and serious alternatives to oil are decades away. In the US, oil consumption is expanding, production declining, and imports climbing. Oil prices and the energy share of national income will increase over the coming decades. Alternative energy sources are available but expensive and certainly will not lower the energy bill.
Monopoly resource profits will be going to the owners of oil and other energy resources. Owners of oil reserves will profit as the price of oil rises due to scarcity. Oil extraction and refining are very competitive with profits slightly higher than the average industry but with high risk. The owners of the oil, however, will enjoy rising profits. Oil is owned primarily by governments around the world.
The price of a barrel of crude oil at the wellhead now jumps around between $40 and $150 while extraction cost in the Middle East is under $5. The owners of the oil in the ground get the difference as profit.
The Arab Gulf has 65% of the world’s proven oil reserves and Iraq has 12%. Oil in the ground is like money in the bank and that makes the Iraqi government, and perhaps the Iraqis themselves, wealthy.
Iraq can easily produce 6 million barrels of oil a day which is 2 billion barrels per year. At only $50 per barrel, that oil would sell for $100 billion. The population of Iraq is 24 million and that oil income translates to $4000 per person.
Suppose Iraq sells a quarter of its potential reserves at an average price of $50 per barrel over the next 20 years. That would generate 90 billion x $50 = $4.5 trillion. If the population of Iraq grows to 30 million, that would be $150,000 per capita for 20 years, or $7,500 annual income per capita. Price will be rising but the Iraqi government will waste a good deal of the profit.
If instead of wasting the income it is invested, Iraq will become wealthy. Estimated productive capital assets in the US are $60,000 per capita and $5,000 for the entire world. If Iraq invests only 1/4 of its oil revenue [for the next 20 years, it will match current US productive assets per capita.
The total value of Iraq potential oil reserves at an average profit of $75 per barrel over next 100 years would be 360 billion x $75 = $27 trillion or $900,000 per capita, making every Iraqi a millionaire. These calculations do not include natural gas revenue, lately about equal to oil revenue for producing fields. Also, most of Iraq has not be explored for gas and oil.[/b]
In the Persian Gulf region, proven oil reserves are 195 trillion barrels. Selling this at an average profit of $75 per barrel over the next 100 years would generate $15,000 trillion income. If half of that is invested, it would amount to $7,500 trillion or 1/4 of the present total capital assets in world. And this is only proven reserves. Due to political uncertainty most of the region has not been explored for gas and oil.
http://www.auburn.edu/~thomph1/iraq.htm
History of the Kuwaiti Dinar:
Sure, here are 2 articles from the New York Times.
AFTER THE WAR; Quick Kuwaiti Recovery Is Seen, With the Cost Less Than Thought
By YOUSSEF M. IBRAHIM, Special to The New York Times
Published: March 18, 1991
KUWAIT CITY, March 17— Kuwait's economy, far and away the strongest among the oil-producing countries before the Iraqi invasion in August put it into a coma, is expected to revive and move back to boom times within two years, say many economic and financial experts on the region.
In scores of interviews here in the last week, Kuwaiti, American and Western financial specialists, including business executives and economic planners, estimated that the cost of reviving the emirate's economy, including the devastated oil industry, would be far less than earlier estimates.
With Kuwait holding about $80 billion in financial reserves abroad, it is more than capable of getting back on a sound economic development track, these specialists say. 'Catastophic but Not Fatal'
"There is no economy now," said Wynne Fuller, who heads the emergency operations division of the United States Army Corps of Engineers here. "We are looking to two to five years to re-establish an economy that resembles what the Kuwaitis used to have."
The Corps of Engineers is to evaluate the damage to the Kuwaiti economy and begin a repair program.
"When all is said and done," Mr. Fuller said, "what you have here is catastrophic but not fatal. The only way I can compare this is to Hurricane Hugo in the States, which cost $4 to $5 billion to repair. So you are looking here at $5 to $10 billion outside the oil sector."
Other officials, including the country's Finance Minister, Sheik Ali al-Khalifa al-Sabah, estimated the cost of reviving the oil industry, sabotaged by Iraqi occupation troops, at $10 billion to $20 billion. Fires Halt Oil Industry
These new and more authoritative estimates are far below others advanced over the last few weeks by a variety of foreign experts living outside Kuwait. Some had suggested that Kuwait's revival might cost as much as $100 billion.
The latest estimates also reflect the growing appreciation here that the damage to Kuwait's roads, power stations, stores, banks and hotels, while substantial, can be repaired through cleaning and patching on a huge scale rather than major reconstruction. Even that work will require skills and coordination that Kuwait cannot muster alone.
The oil industry, source of most of the country's revenue, has been brought to a halt by fires set in most oil wells and refineries. The country's commercial and business centers have been destroyed or looted, immobilizing what was once the Middle East's most active system of private enterprise.
There is no Kuwaiti currency: the Kuwaiti dinar has no fixed value and the Central Bank and other banks have yet to tell people what will happen to their savings or to find records of millions of accounts. Free Food and Gasoline
For now, people living here are getting free food and gasoline. But no salaries are being paid, and a large-scale review of employment records, with a view to eliminating foreign workers like the Palestinians, has yet to get under way.
A variety of currencies, including United States dollars and Saudi rials, are preferred to the Kuwaiti dinar, which is to be replaced with a new one whose exchange rate has yet to be established by the Central Bank.
Yet with the approximately $80 billion in financial reserves held outside the country and with the help of many foreign construction companies, there seems little doubt that the Kuwaiti economy will start rolling again.
"I am very confident about the fact that we will have a boom here," said Michel Shalhoub, a French businessman of Lebanese origin who operated a franchise business selling luxury items from Western companies like Du Pont, Chanel and Lacoste.
Mr. Shalhoub was directing workers repairing two of his shops in the lobbies of what used to be luxury hotels.
"My personal losses are typical," he said. "We had seven stores in Kuwait which were all looted. We salvaged some of the goods in storage facilities. Altogether, I would say our losses are about $6 million, or about 30 million French francs, which represents one-third of my assets here and the equivalent of five years of profits."
Mr. Shalhoub said Kuwaitis would need, and could afford, to buy millions of consumer goods to replace what they lost, including luxury items.
Before too long, people will be buying freezers, air-conditioners, furniture, carpeting," he said. "It will be even bigger than before because those people who kept much of their money outside Kuwait for fear of things just like the Iraqi invasion now know for sure that this country is 100 percent secure and that it will be protected by the West's best armies and a reliable defense alliance to preserve its integrity and freedom." Workers' Future Debated
Before anything that resembles a big economic takeoff can take place, however, the Government must get people back to their jobs, a task that is complicated by some political imperatives dictated by the Persian Gulf crisis.
On the 16th floor of the Industrial Bank here, the chairman, Saleh M. al-Youssef, met over the weekend with his top advisers to determine how they will call their employees back to work, given the Government's edict that expatriates from countries that sided with Iraq must be dismissed.
While the bank's officials have decided to call back their employees this week, other important offices, like the Ministries of Defense, Interior, Information, Oil and Finance, have not yet figured out how to resume operations without many of the foreigners.
"We will decide on a common policy," Mr. Youssef said in an interview. "There are employees we do not wish to keep. They include Palestinians, Yemenites and Sudanese. We will give them their due, of course, but their departure is a political decision. I think the idea is to put pressure on the Palestine Liberation Organization."
There is little doubt that ridding major institutions of thousands of Palestinians will be disruptive to the economic reconstruction of Kuwait. But there is also no doubt of the Government's determination to make sure they go. Change of Attitude Needed
The magnitude of the problem is evident in the makeup of the Kuwaiti population before the occupation. Of two million or so people living here, only 700,000 were Kuwaitis while the others were expatriates, including about 450,000 Palestinians. These did jobs like running hotels, keeping books, repairing cars and working the night shifts.
The country's Planning Minister, Suleiman al-Mutawa, said it was necessary for Kuwaitis to undergo a transformation in attitude, divorcing themselves of the notion that they work only as managers or state employees collecting large salaries with others doing the work.
In the process, Kuwait will have to do away with the whole structure of a sort of welfare state based on prosperity that it has become used to.
"I think there will be a review of all our policies based on what happened on Aug. 2," Mr. Mutawa said. "The questions that have been flushed to the surface are where we can keep expatriates and where we cannot."
"Many of these expatriates have no genuine interest in Kuwait and have, therefore, collaborated with the Iraqis," he continued. "In vital sectors, we may pick up some of the cost overruns to pay Kuwaitis to do those jobs they will not do for the same low salaries that expatriates accept. This is where Government subsidies should go into the private sector to encourage them to hire Kuwaitis instead of expatriates."
"The bottom line," Mr. Mutawa said, "is that the welfare state was mother and grandmother, and when you have that waiting for you at home, you tend to become very spoiled." Records Need to Be Found
Then there is the problem of activating the banks and circulating the new Kuwaiti currency. The Government says it has printed notes, but it is far from clear how the money will be distributed and on what basis.
Bankers said they understood that Government policy will be to consider that everything in Kuwait will revert to where it stood on Aug. 1, the day before the Iraqi invasion. That means that people who held bank accounts then will preserve the value of their money. But the problem is how to locate bank records and find enough employees to carry the policy out.
"What about all the Iraqi money we had to deal with?" asked a merchant who asked not to be identified. "I sold much of my stuff to Iraqis because I had no choice. Does this mean that when I go to give them the Iraqi money, they will not give me Kuwaiti money in return? What happens to the values of the goods I sold?"
For the moment, the entrepreneurs of Kuwait have not yet returned from exile and there are still 400,000 Kuwaitis out of the country. Much of the repair work is being done by foreign companies contracted by the United States Army Corps of Engineers.
Mr. Fuller said the corps had already given out seven contracts totaling $46 million. The contracts are for repairs to buildings, roads, electric cables and sanitation. Where Contracts Go
They have gone to non-Kuwaiti companies, including Shand of Britain, al Harbi of Saudi Arabia and several United States companies, including Blount, American Dredging Company and Brown & Root.
In addition, contracts worth tens of millions of dollars have been given to firefighting companies, largely American, that are preparing to put out fires at an estimated 600 oil wells.
But to get the emirate's economy rolling, Government spending will have to be directed at Kuwaiti companies in the building and rehabilitation business and this cannot begin until the banks are back in business and the Kuwaitis start to return home.
Along with debt, there are fears of inflation. Before the invasion, the inflation rate in Kuwait was kept at low levels -- 1 to 2 percent. With reconstruction, there are fears that political pressure will force the Government to abandon caution and cause inflation to rise to unacceptable levels.
"Economically, we can do it," said Sheik Ali, the Finance Minister. "But how to do it in the most efficient way is the difficulty. There are political considerations that may blow away the spending plans which are cautiously structured." Un Unknown Quantity
Then there is the matter of political stability, an unknown quantity that could presumably influence economic recovery.
Last week, there was unhappiness here when the Government said it would not be able to restore electricity for three more weeks. Many people asked that the Government abandon its slow reconstruction plans and rush to import thousands of generators to supply homes.
"We need patience, but I can understand that people have suffered too much and do not have much patience to give," the Planning Minister, Mr. Mutawa, said. "The period of crossing from disaster to recovery is going to be a difficult one."
Photo: Although Kuwait's economy is virtually nonexistent now, experts expect it to revive and move back to the better times it enjoyed before the war within two years. A rare open business in a Palestinian neighborhood of Kuwait City did a booming carryout food business on Saturday. (Agence France-Presse) (pg. A9)
http://www.nytimes.com/1991/03/18/world/after-the-war-quick-kuwaiti-recovery-is-seen-with-the-cost-less-than-thought.html?scp=5&sq=Kuwaiti Dinar&st=cse&pagewanted=1
Then the next one that shows what happened:
AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks
By DONATELLA LORCH, Special to The New York Times
Published: March 25, 1991
KUWAIT CITY, March 24— It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.
Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.
Without electricity, the banks services were slow, limited to money exchange and withdrawal. There was no telex, no electronic money transfer and no telephones. The computers were unusable, so all transactions had to be entered by hand.
"It's like going back 20 years," said Mohammed al-Yahya, the manager of the Commercial Bank of Kuwait, the nation's second-largest bank. Seized Dinars Canceled
The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.
All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.
Although it is severly handicapped without electricity, the Commercial Bank, like many other major banks, was able to open for business because its records had been saved from the Iraqis. Mr. Yahya hid the bank's balance sheets in his home and sent its computer records to London via Syria with an Indian employee, who packed the tapes into the back of a trailer.
The banks also face serious personnel shortages. Only 11 of the Commercial Bank's 35 branches opened today, with 137 out of 1,300 workers.
Before the Iraqi invasion, only 17 percent of the bank's staff was Kuwaiti. Many of the foreign workers -- Jordanians, Palestinians and Indians -- fled and now cannot re-enter the country.
For those exchanging money today, there was little they could buy in Kuwait. Many of those in line said they planned to use their money for vacations or for shopping trips to Saudi Arabia to buy generators and food.
"I need to get away from this pressure," said Abdul Mohammed Hussein, a computer engineer in his early 40's who said he was withdrawing 1,500 new dinars to take a vacation in the United Arab Emirates. "Everywhere you go you find lines. At the supermarket, you find lines. To get petrol for the car, you find lines."
Abdul Hamed al-Atar, a 50-year-old retired Interior Ministry official, said this was the first time he had set foot in a bank since September, and he seemed relieved. "Kuwaits always keep a lot of cash with them," he said as he was handed crisp new piles of money that he stuffed into a small bag. "It's a comfort to have money in my hands."
Photo: As Kuwaiti banks opened for the first time in months, a group waited in line to change old banknotes for new. New currency was printed to replace stocks of previous notes looted during the Iraqi occupation. (Agence France-Presse)
http://www.nytimes.com/1991/03/25/world/after-the-war-no-electricity-but-kuwait-reopens-its-banks.html?scp=2&sq=Kuwaiti%20Dinar&st=cse
Swaguy feel free to e-mail me.
E-mail:
phoenix3333@hushmail.com
Please do not give up if i am wrong please do your best again to explain.
But know it is not "my way" but factual information.
It is not I who placed the M values that are used by the central banks world wide.
Not my info...
Just factual info:
M0 = A measure of the money supply which combines any liquid or cash assets held within a central bank and the amount of physical currency circulating in the economy.
M1 = The M1 is a very liquid measure of the money supply, as it contains cash and assets that can quickly be converted to currency.
M2 = A category within the money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds 401Ks, etc.
Also you say:
Quote: "I hope too many don't get hurt following your misunderstanding of what is going to happen."
How in the world can anyone get hurt?
Worse case scenario would be a Lop and everyone broke even or made a little money.
Who gets hurt by breaking even or making a few percentages of profit?
Now the best case scenario is that I am correct and my DD is proven to be solid and we see the 1-1 revaluation/re denomination
and we all hit it big.
BUT if someone because of all of the negative banter of Lops and no reval did not invest or worse yet sold right before the revaluation hits THEN someone would be hurt!
So it appears that the most potentially dangerous line of action would be to follow those who say it will Lop and make no profit and to not invest or to sell out pre revaluation.
Then someone would be hurt.
So I think it is also fair for me to say that I hope that someone does not get hurt following YOUR misunderstanding of the situation.
IMHO