Explore small cap ideas before they hit the headlines.
Explore small cap ideas before they hit the headlines.
We had one member here earlier this week say they recived an e-mail from their Chase saying they were now exchanging.
That was in NJ but I contacted a branch in NJ and they told me it was not listed and they were not....let me go back and see if I can locate the post.
Nouri al-Maliki and Ayad Allawi 'neck and neck' in Iraq election countsPrime minister and predecessor have each claimed two provinces as counts early vote tallies show them almost level
.Iraq's prime minister, Nouri al-Maliki, and his predecessor, Ayad Allawi, are almost neck and neck in early counts after Sunday's general election, so far claiming two of the country's 18 provinces each.
Maliki was leading in the Shia conservative heartlands of Najaf and Babil, while Allawi appeared to have won the Sunni strongholds of Diyyala and Salahedin, according to the Independent High Election Commission (IHEC) .
Meanwhile, the first allegations of vote-rigging emerged in Baghdad.
Allawi's Iraqiya list claimed 55 of its candidates had been disqualified on the eve of the election as part of a contentious de-Ba'athification process – a claim that has yet to be verified.
Iraqiya supporters claimed officials had conspired to discard ballot papers and failed to post counts.
Allawi would not put his name to the allegations, which offered scant detail and fell significantly short of a statement, released in the name of the Iraqiya list, that alleged "massive and unprecedented fraud".
"We found Iraqiya votes in rubbish bins," Adnan al-Janabi, a candidate, said. "Their votes thrown out of ballot boxes and neglected by the IHEC – and this is fraud."
Janabi and other Iraqiya candidates said they had received advice about irregularities today from the UN assistance mission in Iraq. UNAMI could not be reached for comment.
An IHEC board member, Qassem al-Abodi, said no allegations of irregularities had been raised with the commission.
Iraqiya have not submitted any complaint," he said. "We don't rely on what is said in the media, only on legal procedures."
A credible ballot is considered to be crucial to a planned US withdrawal. It follows elections in Iran and Afghanistan, where results are widely considered to have been illegitimate.
Partial counting results from Iraq's 14 other provinces are expected to be released on Sunday.
http://www.guardian.co.uk/world/2010/mar/11/maliki-allawi-iraq-election-counts
That is a mess! Now it may be weeks until the results are made public?
Not good.
Just got off of the phone with Citi Bank. They told me that as of right now the IQD is not listed on their computers as a currency they buy or sell.
But you can fund and transfer to Warka bank.
fwiw
So it looks like Fifth Third and TD Bank are the only ones we have found buying and selling at this time. (So far)
OT: Canadian money to become plastic, coins will be steel next year
A view of Canadian money
The Canadian federal government announced in its budget that paper Canadian currency will become plastic and have new security features next year. Its $2 and $1 coins will also receive new changes.
Ottawa, Canada - On Thursday, Prime Minister Stephen Harper’s minority Conservative government announced in its budget that its paper currency will go plastic by late next year, according to the Globe and Mail. The plastic notes will also contain high security features to ensure that the $10 and $20 bills last longer.
The Bank of Canada will replace the nation’s cotton-paper bank notes with a tough polymer that are meant to last two to three times longer. The money will be waterproof as well, so if you wash your money in the laundry then it won’t be a big deal, reports The Canadian Press. However, the Bank of Canada has not revealed the details on the specific technology.
This latest measure is designed to avoid counterfeiting, which the Royal Canadian Mounted Police say there were more than 141,000 counterfeited bills found worth $3.3 million in 2007, reports the United Press International.
Australia was the first nation to use plastic money and a spokesperson for the Bank of Canada, Julie Girard, believes it’s a very good investment on the part of the federal government.
Finance Minister Jim Flaherty also announced that the nation’s $2 and $1 coins will be replaced with steel instead of the predominantly nickel-based.
http://www.digitaljournal.com/article/288564
Canada rolling out plastic money in 2011
Next year our neighbors to the north are releasing two new bills made with plastic fibers that will last longer and cut down on the spread of germs.
Fri, Mar 05 2010 at 4:25 PM EST
It's impossible to live a modern existence without plastic. It's everywhere (including our oceans.) It's in our clothes, packaging, furniture, bedding, and even our food and medicine. Next year Canadians can add their money to that list; the Canadian government announced today that it would be replacing cotton $10 and $20 bills with plasticized versions in 2011.
The new bills are expected to last three times as long as the all-cotton bills and won't absorb oils and sweat from our hands. Australia, Mexico, and 21 other countries have already made the switch — the Mexican 20 peso note is made up entirely of polymer fibers, others are a blend of plastic and natural fibers. Thailand experimented with a plastic note but dropped it after Thais complained about the bills colorfastness and tactile handling.
This seems to be a good application for plastic — it's displacing cotton, a terrifically resource-intensive crop to grow, and is nearly assured to be kept out of the litter stream because, well, it's money. No one throws money away, at least in the classical sense. When plastic bills get too old to be of use they are taken out circulation and (hopefully) recycled.
What do you think? How would you feel if we made the switch to plastic-infused money?
And ...
Central bank of Canada stands ready to inflate currency in response to strong loonie
August 25, 2009
Canada remains on track to resume growth this quarter, Deputy Governor says, but surging dollar renders rebound fragile
Bank of Canada deputy governor Timothy Lane said “persistent strength” in the loonie could derail the country’s recovery from recession and signalled the central bank is prepared to weaken the currency if necessary.
“If a stronger dollar were to alter the path of projected inflation relative to that presented in our July Monetary Policy Report, we would need to take that into account,” Mr. Lane said in a speech at the Canadian Association for Business Economics summer conference in Kingston, Ont., Tuesday.
“As we have said before, even though we are at the effective lower bound for our policy rate, we retain considerable flexibility through the use of unconventional monetary policy instruments, including quantitative easing.”
The remarks – Mr. Lane’s first in public since being named to the policy-setting Governing Council in February – are the central bank’s strongest yet in a series of comments about the potentially harmful affects of a surging dollar that date back to June.
Mr. Lane’s speech, which was released on the Bank of Canada’s website, marks the first time the central bank telegraphed that a rising currency could trigger a program of quantitative easing, which would involve the central bank creating new money to buy government debt.
“Other things being equal, a persistently strong Canadian dollar would reduce real growth and delay the return of inflation to target,” Mr. Lane said.
Read the full speech
http://www.bank-banque-canada.ca/en/speeches/2009/sp250809.html
Canada’s dollar gained 7.9 per cent in July, the second biggest monthly increase on record, and climbed above 94 U.S. cents earlier this month, the highest in more than 10 months.
The currency was trading lower – at about 93 U.S. cents – for the first time in six days before Mr. Lane spoke as oil prices declined in New York. The loonie dropped further after Mr. Lane’s remarks were published at 12.45 p.m. (ET), according to Bloomberg News.
For now, Mr. Lane said Canada’s economy remains on track to resume growth this quarter, which the central bank first when it updated its economic outlook in July.
Canada is getting a lift from “signs of a nascent recovery” of the global economy, especially China, where domestic demand is boosting prices for raw materials, and in the U.S., where gross domestic product should grow this quarter, Mr. Lane said.
More specifically, the future looks bright for Canada because the U.S. rebound heralds increased demand for some of this country’s biggest exports: automobiles and automotive parts and lumber, Mr. Lane said.
Canada’s “well-functioning” financial system means there should be plenty of credit available to allow companies to take advantage of the global rebound, and households, businesses and governments are relatively free of debt.
“While the outlook is clouded by uncertainty, there are encouraging signs that we will return to positive growth this quarter,” Mr. Lane said.
The central bank predicted in July that GDP will expand at an annual rate of 1.3 per cent in the third quarter after shrinking 3.5 per cent between April and June.
Still, Mr. Lane maintained the Bank of Canada’s position that the rebound is fragile.
Along with the currency – which is rising because of higher commodity prices and because speculators are seeking alternatives to the U.S. dollar – the central bank continues to worry that the rebound is too reliant on rock-bottom interest rates and trillions of dollars in stimulus spending.
“While these policy actions have been timely and effective, they imply that the incipient recovery depends to a considerable degree on official action,” Mr. Lane said. “At what stage will private demand be robust enough to make the recovery self-sustaining? Clearly, we haven’t reached that point yet.”
http://statismwatch.ca/2009/08/25/central-bank-of-canada-stands-ready-to-inflate-currency-in-response-to-strong-loonie/
Canadian economy improving, currency a risk - IMF
G20 to talk currencies, 'moral hazard' - Canada
and the (U.S.) have ~
April 21st in a special ceremony to debut a new design to the Hundred-Dollar Bill ...
This Week - February 5th-6th -2010 - Canada to press G7 finance ministers to fix their banks, reform financial system
June 26-27-2010 -The G20 Meets in Toronto, Canada
http://articlesofinterest-kelley.blogspot.com/2010/03/canadian-currency-will-become-plastic.html
No they also bring in all of the foreign currency that they take in and exchange that for dinar.
The local banks because of all of the contractors take in all types of currency.
USD Euros and even some Yen.
fwiw
LOL! Me too! But we have people who read these boards who are not the average speculative investor so the rumors are not processed as such and it leads to problems for some.
So I only share rumors with those I know can intellectually process the information for what it is.
But it's all good.
We have a lot of rumors right now.
I heard some info myself that something is happening right now.
This is the first info I have personally received so far this
year and the last time I had info was in December 2009.
(My speculation is the reason the December info did not pan out was due to the last moment veto of the Iraqi election law)
I will not share the details of this new information I have
personally received because there are people who read
these message boards who do not possess the needed emotional
steel or balance to partake in the sharing of rumors so I will just keep it to myself.
But I like it.
Go DINAR!~
IQD in @ .0009 HOLD!~
The new currency...the lower denominations that will replace the higher 3 zero notes.
We have all been waiting for the lower denominations to come out.
IMHO we will see the revaluation and the introduction of the lower denominations at the same time.
They will need the lower denominations for transactions when they do the revaluation.
As the higher zero notes are removed the lowed denomonations will replace them.
IMHO
Wonder if those were the lower denominations going out?
Just a thought.
Well that would be up to you. If you have one close you might want give them a call and see what they offer.
IMHO
I think it will be the CBI but in close coordination with the IMF.
IMHO
Ad Mleckert: The world admires the way the professional conduct of the elections
UNHCR established its headquarters in the morning March 10, 2010 press conference attended by the President of the UN mission in Iraq, UNAMI, Ad Melkert inaugurated by the President of the Board of Commissioners Faraj hello attendees and thanked everyone for the efforts being made for the success of this process task is indeed to the future of Iraq.
He thanked Mlkrt in his al-Haidari and all members of the Board of Commissioners for this excellent work, adding that everyone knows that the work is still in place so far and is on track for completion in full after the end of the process of counting and sorting and it will be able to see everyone.
I commend the effort involved in the Center for data entry and the rest of the staff of UNHCR, and expressed his admiration for their work for the future of Iraq.
The Mlkrt that the process is very complicated and should be scrutinized everything several times and this process takes a matter that requires several days.
The Mlkrt that, compared to the information received on Wednesday that preliminary results will be issued Thursday morning, stressing that the results are among the functions of the Office and that is the only official able to announce the results.
He also stressed the ability of UNHCR to deal with complaints made by other entities and called on all uphold the spirit of the election and said, noting that it is also important to accept the results by all and I point out that the elections generally must Waitangi by the winners and losers, and this in itself will increase the value of these elections .
During his speech to the mutual respect that represents the spirit of the election as the world admired the way the professional conduct of the elections.
For his part, al-Haidari said that most of the entities and the representatives of the international community has praised the integrity of the electoral process and that criticism and skepticism is natural, some will not affect the Commission, but the source of those false information only.
http://articlesofinterest-kelley.blogspot.com/2010/03/ad-mleckert-world-admires-way.html
I would guess you are both "South West Airlines" people?
Just my WAG for the meaning of SWA
lol.
Citi Bank and Warka Bank info:
Dear Warka Clients,
As the leading financial institution that has served Iraq since 1999, we have played a significant role in the reconstruction of the country by participating as a lead financier in many core sectors including power, water, communication and construction.
It gives me great pleasure to inform all our distinguished clients that Warka Bank for Investment and Finance and Citibank established a mutually rewarding banking relationship that will best serve our clients, banking industry and the economy.
We look forward to unleashing the full force of the partnership with Citibank for the benefit of the new Iraq.
Below are our account details at Citibank in which you can now direct your wire transfers to fund your accounts at our bank.
http://www.warka-bank.com/inner.php?type=3&id=25
Did not call them back yet. eom
No clue. But from what i have been told all of the majors will be on this.
Also I will call Citi Bank tomorrow.
Citi Bank is in partnership with Warka Bank in Iraq right now,
You can go into Citi bank and open an account and from that account open a Warka bank account and transfer funds to and from your Citi account to your Warka account.
So there is a very good chance that Citi also buys and sells but I will get that info in the am.
I do know people who are connected to Chase and Bank of America people and they both say they are expecting this event and will both exchange when it happens.
I will update on Citi bank tomorrow.
Confirmed Banks buying and selling at this time are:
Fifth Third Bank: https://www.53.com/wps/portal/personal
TD Bank: http://www.tdbank.com/default.aspx
the I-Box was updated with this info and we will update as information comes in.
4th Qt 2009 Babylon Fund ETF
http://web.me.com/godvig/Godvig/Babylon_Fund_files/Investment%20Presentation.pdf
Yes! The Babylon Fund ETF
The Babylon Fund:
http://www.dasinvestment.com/fileadmin/images/Factsheets/Babylon_Fund_-_Fact_Sheet_-_31Jan09.pdf
Iraq plans to double the capital of the Southern Oil Company ten times
PostDateIcon | Tuesday, 09 March 2010 17:16 | Print
Increase the capital of the Iraqi national oil companies
? Baghdad
The Iraqi government said on Tuesday it plans to double the capital of the Southern Oil Company ten times to about $ 426 million.
The SOC is a locomotive-owned oil companies of the State in Iraq ...
Ali al-Dabbagh Iraqi government spokesman said in a statement that the cabinet agreed to increase the capital of the Southern Oil Company to 500 billion dinars ($ 426 million) in coordination between me and ministries of oil, finance and also approved the recommendation of the capital increases for other oil companies, state-owned.
The oil of the South - which is based in Basra in southern Iraq - is responsible for many of the largest oil fields in the country, including Rumaila.
The decision comes as the government seeks to exploit Iraqi oil deals new series hopes to increase the nation's crude production of about 2.5 million barrels per day currently to at least 10 million barrels per day within six or seven years.
http://translate.googleusercontent.c...f50gJiR8aIb63A
ISX index up by 1.2% to close at 99 points
March 9, 2010 - 04:34:37
BAGHDAD / Aswat al-Iraq: BAGHDAD / Aswat al-Iraq: The Iraqi Stock Exchange (ISX) index went up on Tuesday by 1.2% to close at 99 points as rates of shares of 13 out of a total of 37 companies traded during today’s session went up.
Rates of ten companies’ shares went down, while 14 retained their previous prices.
The number of traded shares hit 7.285 billion worth over 8.597 billion Iraqi dinars (roughly $7 million U.S. dollars) through 242 deals, including nine went to non-Iraqi investors with a number of shares of 5.9 million worth more than 10.3 million dinars over the banking and industry sectors.
The industry sector came in the lead with 95% of the whole trading today through 80 deals over 7 industrial firms.
The ISX witnessed its first e-trading session on April 19, 2009 over five registered companies, three banks and two hotels. The banks were: Ashur International Bank (AIB), Al-Mansour Bank and the Iraqi Credit Bank while the hotels were: Ashtar Hotel and Al-Mansour Hotel.
On June 7, the Iraqi Middle East Investment Bank and the Warka Bank joined the electronic trading sessions.
The ISX now holds five sessions from Sunday to Thursday.
http://en.aswataliraq.info/?p=128283
Iraq: The election results were announced on Wednesday evening
09/03/2010
BAGHDAD, Iraq (CNN) - said the Electoral Commission for elections in Iraq, Tuesday, that the results of the elections in the country this week will be announced at six local time on Wednesday.
He informed the Commission member Saad al-Rawi reporters that "officials want the vote count is extremely precise in their work, and this takes time, especially with the multiple forms of the vote .. but preliminary results could be announced after the completion of 30 per cent of the count."
Thousands of Iraqis went to the polls in the country and abroad, amid reports of irregularities led to depriving tens of thousands of voters from voting, especially in the British capital London.
Some of the results has begun running the Iraqi elections on Monday after the end of the voting process in Iraq and abroad, and noted reports from Mosul to win the "Iraqi List" led by former Prime Minister, Iyad Allawi, the first place in the province of Nineveh.
With the Electoral Commission declared the elections, turnout in the parliamentary elections in Iraq hovering around 65 per cent, said that the number of Iraqis participating in the elections outside Iraq has reached nearly 250 thousand voters only.
The American ambassador to Iraq, Christopher Hill, on Monday, said parliamentary elections which the country "took place very well," and that "Iraqis deserve the congratulations of the Americans," on this election.
Hill said the program "Morning America" on CNN that "the vast majority of the Iraqi people it was supporting the holding of elections .. there was more support for this political process."
http://translate.googleusercontent.com/translate
I did but I was on my cell and did not write it down. They told me they had a flat fee for exchange and there were no limits on exchange.
I do not have an account there but may open one on line today.
I am in the north east and want as many options as i can get.
If you call them they seem to be very open and helpful the woman i spoke with pulled the IQD up on the screen and gave me the live rates and exchange fees.
Again sorry but i was on my cell and was just glad to hear someone so open and helpful.
Chase....not so open.....not so helpful.
I am thinking this afternoon i may have an account with TD Bank.
Heck...i may even change to Ameritrade again...I am with Scottrade now and may switch back.
Seems they have some banking deals that include your online trading account. (at first glance it looks as if that is the case)
TD Banks all buy and sell Dinar. BUT you must have an account to do so.
I made phone contact and they were very open and helpful.
I have been doing some DD this AM on TD...so far I like what i am reading.
Made a contact to Chase...still not buying or selling in my area.
You can check for TD locations on line and open and fund accounts online.
TD Bank: http://www.tdbank.com/default.aspx
TD Bank DD:
http://www.td.com/investor/2010/2010TDAMTD_trans.pdf
Thank you. eom
maxtil what state is that Chase in? And did they say effective now?
Also I know that TD bank in the DC area and NYC area buy and sell IQD at this time.
Thanks
Iraqi investors to put money where mouth is
DUBAI - Investors eyeing Iraq’s economy are expected to put their money where their mouth is in the coming months as the current election solidifies legitimacy in the country’s young democracy, a leading fund manager said on Sunday.
“This election will drive legitimacy for the government and international investors will feel more comfortable,” Dara Maghdid, who manages the $30 million Babylon Fund for Godvig, told Maktoob News.
Millions of Iraqis braved rocket, mortar and bomb attacks that killed dozens of people over the weekend to cast their ballots in the second parliamentary election since U.S.-led forces ousted dictator Saddam Hussein in 2003.
Maghdid said investors have taken a wait-and-see approach until the election, but expected improvements in political and social stability after the vote could pave the way for an economic boom in the oil-rich country.
Iraq’s stock market has the potential to “rise three times in three years, ten times in ten years”, Maghdid forecast.
The Babylon Fund has 40 to 50 investors, most of them European, and invests their money in the Iraq Stock Exchange, which has fallen about 10 percent in the first two months of this year.
The Iraq bourse has fallen about 20 percent since September 2009 when companies in the index were reweighted.
The Babylon Fund has returned about 28 percent to investors since it started in 2006, Maghdid said. While the return is not stellar, Maghdid expects steep returns in coming years.
Iraq has the world’s third largest oil reserves after Saudi Arabia and Iran, according to figures from UK energy firm BP. Foreign direct investment soared in 2009, rising more than 240 percent to nearly $157 billion in capital commitments by November.
NORTHERN STAR
Godvig plans to start a new company, Kurdistan Investment Co (KIC), in the country’s oil-rich northern region in the coming months. It has already garnered $1 million from a few investors and hopes to increase that to $50 million.
“We have two Kurdish investors and two Europeans. They live in Iraq. We’ve spoken to some big investors and they also want to come to this company and waiting for the company to be completed.”
KIC will invest in shares of foreign oil companies that are setting up operations in the region. Maghdid hopes to list KIC on the Stockholm bourse once it gets the minimum 100 investors needed.
While Iraq’s real gross domestic product is expected to rise 6.3 percent a year on average in 2010-2011, according to the Economist Intelligence Unit, Maghdid said growth in Kurdistan should exceed 20 percent annually.
“Our investors worry about the election,” he said. “But this tension is a healthy phenomenon that will create a more democratic environment in the region.”
Analysts expect four key groups to take the bulk of 325 seats in the country’s parliamentary election and attempt to form a coalition government.
These parties include: The Iraqi National Alliance, the country’s largest Shi’ite coalition; the nationalist group al-Iraqiyah led by Iyad Allawi; Prime Minister Nur al-Maliki’s State of Law party; and a coalition of two Kurdish parties.
Maghdid said that “while the security situation is not good ... things are headed in the right direction”.
The Economist Intelligence Unit said in a recent report that while it expects “the political situation in Iraq to remain unstable ... we do not expect a repeat of the sectarian conflict that engulfed Iraq in 2006 and early 2007”.
Maliki on Monday emerged as a front-runner after the election. However, estimates from the Baghdad region, which could swing the results of Sunday's poll, were not yet available but local officials said Maliki was leading in nine of Iraq's 18 provinces.
business.maktoob.com
http://articlesofinterest-kelley.blogspot.com/2010/03/iraqi-investors-to-put-money-where.html
Tunner61 thanks for the info and leg work!
Reminder to all: No promotion or endorsment of any private currency dealers/brokers by anyone is allowed on this board.
Thanks.
ema-266
My take is...
I do not think we will see anything change with the rate until maybe this weekend.
I realy think we will see the change before the 1st of April.
But I am not ruling out anything at anytime.
IMHO
I am just relaxed and waiting.
Just hopeing for the best.
Go DINAR!~
No. That is all false information being spread on dinar forums.
The facts are:
Article V of the IMF agreements clearly states that payments can be made with any free floating currency(hard currency) USD, EURO,YEN,or even GOLD.
Link:
http://www.imf.org/external/pubs/ft/aa/aa05.htm
Iraqi Dinar Security Features
You will notice the addition in the I-Box above of the listed security features of the Iraqi Dinar.
Go Dinar!
IQD in @ .0009 HOLD!~
Thanks. eom
Botat question:
I was told that the DeLarue or Talaris machines used to count and verify IQD were Internet capable and that the security strips log the serial numbers in real time as the bills pass through the machine.
Is this true?
I was also told they have all of the serial numbers (most) of all of the stolen dinar and that this is how they will detect the stolen money is by the verification machines.
Any solid truth to this?
Thanks.
Sounds silly to me also.
Now I can see the need because of taxes...but not exchange.
IMHO
I was told that when it happens the major banks will exchange as long as you have or open an account with them.
The banks that are rumored to exchange when it happens are:
Chase
Bank of America
Citi
Wells Fargo
TD Bank
Fifth Third Bank
Regions
Compass
You can actualy go to Citi bank at this time and open an account with Citi here in the US and from that account fund an Iraqi bank account.
Citi bank is in partnership with Warka Bank in Iraq.
Also JP Morgan Chace is the founding core bank of the Trade Bank of Iraq.
You may not have to go back if this hits soon.
Hoping for the best!
Go Dinar!~
LOL!
Not quite.
First off...this is speculative investment and due diligence is required.
Also....with this investment the worse case scenario would be a lop and IF that were to happen people would break even or maybe even double or triple their money.
Now...you want to talk harm?
You want to talk injury?
If someone out there who is reading this board has held Iraqi Dinar for years and after all of this time only hears the negative...only hears those who say it is a scam or that they will never make anything and then because of that constant negitive bashing they sell out.
Then if after they sell out the IQD revalues at a high rate...then you have harm....then you have damages.
No one has ever been hurt by breaking even or making a little money.
But people have been hurt by accepting bad advise and by doing so miss out on a once in a life time opportunity.
That...would be true harm and loss.
This will happen...someone somewhere will have sold out because of someone giving them bad advise.
Can you imagine what will happen if someone sells out millions of dinar because someone on a board, or someone they know were constantly harping on them to sell and then it RVs high?
And the person who sold out knows they held great wealth right in their very own hands but gave it all up because they listen to the bad advise of someone?
What do you think is going to happen?
Go DINAR!~
IQD in @ .0009 HOLD!~
That was posted at.....
one of the dinar forums and was proven to be a bad translation.