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Iraqi PM instructs debt settlement
POL-IRAQ-MALIKI-DEBTS
Iraqi PM instructs debt settlement
BAGHDAD, April 27 (KUNA) -- Iraqi Prime Minister Nouri al-Maliki instructed here Friday that all Iraq's debts to regional and international organizations be paid off.
Al-Maliki's Office quoted him as stressing in a release that Iraq should restore its key role on the regional, Arab and international arenas.
The Iraqi prime minister told all Iraqi cabinet ministers that the way should be paved for Iraq's active involvement in all Arab and international bodies and organizations which it had split away from during the former ruling regime, it added.
Iraq needs to get back to all political, economic, cultural, artistic, sports and other activities regionally and internationally, the office quoted al-Maliki as requesting.
However, the release failed to mention the size of Iraq's debts or creditors or even Iraqi cabinet ministries which are to pay off Iraq's debts. (end) ahh.tm.
mt
KUNA 271639 Apr 07NNNN
if iraq has to pay 20% of the 15 billion u.s. owed ,at the present rate of 1267 it will be 3.801 trillion new iraqi dinar,and the p m did order the cbi to pay kuwait. this is not speculation.
if kuwait receives the 3.801 trillion new iraqi dinar and then a reval occurs ,kuwait would be getting a huge windfall !
1 for 1 u.s. would be $3.801 trillion dollar windfall for kuwait on an original $15billion u.s. debt.. doesn't make much sense that kuwait would argue much,would it?
kuwait ,i say iraq should give kuwait 1billion new iraqi dinar after the reval. or 5 billion new iraqi dinar before reval as an offer and if kuwait doesn't take the dinar then don't pay them at all. if it wasn't for us intervening for their freedom kuwait would be a moot issue.. see how we have to baby sit these people? i can see how the demos are getting sick about these people, foot dragging,renegging ,arguments, back stabbing, whining,delaying,on all sides. kuwait should be very lucky with what they already have. i say kuwait owes us $100b u.s. at least for freeing them. the most kuwait should do is take a few new iraqi dinar and shut up and the least is to take nothing and be greatful that the u.s. regained their freedom and their booty.
paying $3b u.s.=3.801 trillion new iraqi dinar doesn't it?
the kuwaiti debt is $15b u.s. times .20=$3b u.s. times 1267=3.801 trillion new iraqi dinar??? is my math correct?
Kuwait Balks at Forgiving Iraq's Debt
Kuwait Is Balking at Forgiving Iraq's $15 Billion Debt, Aides to the Iraqi Prime Minister Said
Kuwait's Prime Minister Sheikh Nasser Mohammed Al Sabah, left, receives his Iraqi counterpart Dr.Nouri Al-Maliki upon his arrival at Kuwait International Airport on Tuesday, April 24, 2007. Kuwait has not decided whether to forgive US$15 billion its neighbor Iraq owes this oil-rich country, according to an aide to al-Maliki. Al-Maliki was in Kuwait to meet with Emir Sheik Sabah Al Ahmed Al Sabah to discuss the debt, which dates back to Saddam Hussein's former regime. (AP Photo/KUNA)The Associated Press By QASSIM ABDUL-ZAHRA Associated Press Writer
KUWAIT CITY Apr 24, 2007 (AP)
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Print Kuwait is balking at forgiving Iraq's $15 billion debt, aides to the Iraqi prime minister said as he made a key visit to the tiny oil-rich state.
Neighboring Saudi Arabia has agreed to write off a large portion of Iraq's debt to it. But some Kuwaitis, still bitter about Saddam Hussein's invasion of their country nearly two decades ago, think Iraq which also boasts large oil resources should support itself.
During his visit to this U.S. ally, Iraqi Prime Minister Nouri al-Maliki met with David Satterfield, an adviser on Iraq to Secretary of State Condoleezza Rice. Satterfield told al-Maliki that Kuwait has not made a final decision on debt relief, according to an aide to the Iraqi leader.
In an effort to help Iraq get on its feet financially, the Bush administration is spearheading a drive to persuade other countries to follow the U.S. lead and write off their shares of Iraq's debts, most of which stem from the 1980-1988 war between Iraq and Iran.
The Kuwaiti government has pledged to forgive 80 percent of Iraq's debt, but the decision is subject to parliamentary approval. Many lawmakers oppose the move, arguing that Iraq also is an oil-rich country and should pay back the money.
"Nobody in Kuwait approves" of the debt write-off, said Nabil al-Fadhl, a columnist for the newspaper Al-Watan. "This is huge money, it will be at the expense of development of our country."
Kuwaitis sympathize with the plight of their neighbors but are still "sensitive" about Saddam's invasion of their country in 1990, al-Fadhl added.
Ties between Kuwait and Iraq have resumed after the U.S.-led invasion of Iraq in 2003 and the fall of Saddam. But images of torture, executions and sabotaged oil wells during Iraq's seven-month occupation are difficult to erase from Kuwaitis' collective memory. A U.S.-led coalition liberated Kuwait in the 1991 Gulf War.
Al-Maliki told reporters Tuesday that he spoke about the debt with Kuwait's emir and prime minister, but said the matter was left up to the parliament.
Kuwait Balks at Forgiving Iraq's Debt
the u.s. put a temporary kabosh on the kuwait's pegging their currency to the euro is all. a lot of the kuwait debt is already forgiven and maliki just put out a press release commanding the cbi to pay kuwaiti in iraqi dinars on the rest of the kuwait debt.
the pm ordered the cbi to pay off kuwait debt right after the buy back or don't you recall?
i thought that money was to pay off the kuwaiti debt? a buy back to pay off kuwait?
where did the 3 trillion go? did they burn it?
whats to get all excited about? remember what you said 22 trillion out there.
did you notice that e l has broken out to a 5 year high,break out ? maybe 85 dollar stock in a month? e l rumored to buy rev? do you think ron perelman would let it go cheap?
earnings coming may 8th?
do people in orange ca buy stock? rev 1.95 by friday imho.
Will VND revaluate?
Why is the state bank refusing to buy dollars? A trustworthy source said that the quota for putting VND into circulation for 2006 has run out. The General Statistics Office (GSO) said that the consumer price index (CPI) rose by 6.6% in 2006 and the central bank fulfilled its tasks of curbing the inflation.
Experts guess that the central bank will soon resume buying dollars as there will be the quota for putting VND into circulation for 2007. If so, the dollar excess will be resolved.
An official from the State Bank said that the bank must consider pluses and minuses, and especially the possible impact on prices when buying or selling dollars. “The central bank must not let the VND revaluate,” the official said.
However, the dollar is a kind of commodity and its price depends on supply and demand. When supplies are high, the commodity price must go down, and the VND will revaluate against the dollar.
A question has been raised about what the VND/US$ exchange rate should be to ensure the suitable inflation rate, the currency value stabilisation, the supply and demand balance, while creating liquidity to the market. >>>>>At this moment, >>>>>>>exporters are complaining that the high VND value>>> makes Vietnamese goods >>>>>less >>>>>competitive in the international market!!!!!!!!!!!!! and the revaluation of the local currency should not be prolonged.
???????????? WHAT DO WE MAKE OF THIS???????
(Source: TBKTSG)
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WHAT DO YOU MAKE OF THIS? LOOKS LIKE THE VIETS DON'T WANT REVALUATION
Dollars unwanted, why?
17:14' 05/01/2007 (GMT+7)
VietNamNet Bridge – Commercial banks are still buying dollars from export companies, but just at moderate levels. Meanwhile, exporters are being advised to keep dollars in their accounts. What is happening?
Since mid December 2006, the VND/US$ exchange rates quoted by commercial banks have been lower than the inter-bank rates declared daily by the State Bank of Vietnam, a quite strange thing.
Why so strange?
The problem lies in the fact that supplies of dollars are now abundant, while banks cannot purchase all the dollars they are offered.
In theory, the central bank acts as the final buyer and seller of foreign currencies to regulate the forex market. When supplies are abundant, the central bank has to buy dollars, and when supplies are short, it has to sell dollars, to keep the price stable.
Under the current regulations, commercial banks have to sell a part of dollars they hold if the volume exceeds the volume they are allowed to hold. Eximbank, for example, has the chartered capital of VND1,206bil, and it can hold the volume of foreign currencies of VND360bil, or $22mil (30% of chartered capital). If the total volume of dollars Eximbank buys in a day exceeds the $22mil threshold, the bank will have to sell the surplus sum to the central bank.
Nevertheless, the central bank has unexpectedly reduced the amount of dollars it has purchased in the last weeks. A source said that the central bank had been buying just 2mil dollars a day, and sometimes refusing to purchase from banks.
As a result, commercial banks have no other choice than reducing and even stopping buying dollars. If they buy all the dollars they are offered, their forex position would exceed the allowed level and they would be punished by the State Bank. Meanwhile, supplies of dollars are abundant: exports are high, which can bring large volumes of dollars, the sums of money sent by Viet Kieu to their relatives in Vietnam (overseas remittance) are also high, at $4.5-5bil. In addition, a big volume of dollars will be brought into Vietnam by the Viet Kieu returning home on Tet and foreign tourists.
A representative from an export company said that his company was now losing VND20-30 per dollar when it sold dollars to banks.
Banks are not buying dollars at this moment for fear that they will incur losses when the prices decrease. However, the Vietcombank HCM City branch is still trying to buy $10mil a day in order to help ease difficulties for enterprises.
Will VND revaluate?
Why is the state bank refusing to buy dollars? A trustworthy source said that the quota for putting VND into circulation for 2006 has run out. The General Statistics Office (GSO) said that the consumer price index (CPI) rose by 6.6% in 2006 and the central bank fulfilled its tasks of curbing the inflation.
Experts guess that the central bank will soon resume buying dollars as there will be the quota for putting VND into circulation for 2007. If so, the dollar excess will be resolved.
An official from the State Bank said that the bank must consider pluses and minuses, and especially the possible impact on prices when buying or selling dollars. “The central bank must not let the VND revaluate,” the official said.
However, the dollar is a kind of commodity and its price depends on supply and demand. When supplies are high, the commodity price must go down, and the VND will revaluate against the dollar.
A question has been raised about what the VND/US$ exchange rate should be to ensure the suitable inflation rate, the currency value stabilisation, the supply and demand balance, while creating liquidity to the market. At this moment, exporters are complaining that the high VND value makes Vietnamese goods less competitive in the international market, and the revaluation of the local currency should not be prolonged.
(Source: TBKTSG)
Printer - friendly version Send via e-mail Send your feedback
Read on >>
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VN-Index rebounds, making highest level (05/01/2007)
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Japan to provide technical support for expressway project (05/01/2007)
Dealers not importing used cars until new policies enacted (05/01/2007)
Bond issues must target local market (04/01/2007)
Nhat Tan peach blossom copyrighted (04/01/2007)
Vietnam Airlines reports profit reduction due to fuel price increases (04/01/2007)
10 prominent economic events as selected by you (04/01/2007)
Jan 11: import tax on cars will be 80% (04/01/2007)
Govt to float coal prices (04/01/2007)
Insurance market will be competitive in WTO period (04/01/2007)
An hour with Steve Forbes and stories about rich people in Vietnam (04/01/2007)
Auto industry: don’t have expectations of state owned enterprises (04/01/2007)
WTVI
WI - FI TV INC
Daily Commentary
Our system posted a BUY-IF today. The previous SELL recommendation was issued on 03.14.2007 (47) days ago, when the stock price was 0.0175. Since then WTVI has fallen -81.14% .
The market considers a bullish attack but still hesitating to do so. The previous bullish pattern is not confirmed today. According to our rules, it is by now null and void. However, a new bullish pattern is developing and another BUY-IF alert is issued today. It is the time to repeat the homework. Sounds tedious? Well, earning money is not easy. Keep an eye on after-hours and futures trading and digest all related news, events, economic data and the outlook of the world stock markets prior to the next confirmation session.
You must again check if one of the following three confirmation cases hold or not:
Does the market open with an upward gap? Your benchmark is the opening price. If the prices stay over this benchmark, go long.
Does the market open at a level, equal to or below the previous day’s close? The benchmark is that closing price. If prices during the session stay over this benchmark, go long. In both of the above cases, avoid buying if the prices during the session start coming below the benchmark.
Check also the rare case in which the market opens with a big downward gap but the day ends with a long white candlestick though still closing below the previous close. Such activity confirms the bullish alert and the benchmark is the closing price of the long white candlestick.
If one of these confirmation criteria is not met, or in case of a black candlestick or doji, the BUY-IF alert remains valid (without confirmation) postponing the confirmation search to the next session. Any long black candlestick following a BUY-IF alert, on the other hand, makes the signal void and invalid.
We do not suggest any new short positions given the new bullish alert. The short sellers should consider covering their positions if the market confirms the BUY-IF signal. Otherwise, existing short positions should be carried.
Data provided by: End of Day Data
BUY-IF
0.0033
0.0000 0.00%
Candlestick Analysis
Today’s Candlestick Patterns:
Black Spinning Top
Bullish Matching Low
Today a Black Spinning Top was formed. This represents complete indecision between the bulls and the bears.
For more about this candlestick click here.
The last two candlesticks formed a Bullish Matching Low Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation.
For more about this pattern click here.
Stock Quote
Day's Close 0.0033
Previous Close 0.0033
Previous Open 0.0036
Change 0.0000
% Change 0.00%
Volume 17,803,800
Stock Activity
Day's Open 0.0035
Day's High 0.0035
Day's Low 0.0032
20-Day Close M.A. 0.0058
50-Day Close M.A. 0.0129
65-Day Volume M.A. 20,411,861
good volume today
wtvi ,i was buying allday todat
for sure!!!!!!!!20m here
Posted by: maryundys
In reply to: None Date:3/6/2007 1:41:09 PM
Post #of 960675
GHTI TRADES ANOTHER 1M>>>>>>>> 3M ON THE DAY AND CEO FLO TERNES SAYS ONLY 50M O/S/ LAST WEEK >>>>>>>>>>AND HE SAYS HE IS NOT A LIER. I ASKED THREEE TIMES "ONLY 50M O/S ON THIS CELLAR BOXED WONDER?" HE SAYS BERLIN IS RESPONSIBLE !!!!!!!!!
Other Markets | Forex | Iraqi Dinar Discussion Board (IQD)
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Posted by: Aerospace
In reply to: maryundys who wrote msg# 6128 Date:4/14/2007 7:06:15 PM
Post #of 6143
Are you Shotgunsuzie?
She posted this this statement almost word for word before.
"don't bother asking me where i get all this info. i read 80 hours a week all over, everywhere i can on everything about iraq"
lets see you are involved with plycf .i own a lot of plycf. and one other posting for cshd ,rufus ceo , sec stopped that from trading. i didn't buy into that fiasco. and all your other posts are on strongs board or here.
so basically you are a nobody with 1 membermark and that was probably you doing your own membermark.
you come on here with your unpolished angry demeanor and out sequetor links that are mainly dead and try to horn in and undermine peoples posts.
now i am shotgunsusie!!!!!!!wooottt!!!!!!!!hugh!!!!!!!
I AM SHOTGUNSUSIE? WOOT! HUGH!!! aerospace can really do good dd!!!!!!!!!!!!!!!!!!!!!!!!aerospace man you are good. you post links that are dead or need a xls spread sheet download ,then you go around accusing posters they are some dumb housewife from living in the suburbs near wash dc .with one dead rumor after the other. is shotgunsusie involved in penny stocks too?i am involved with 110 pennystocks. are you?
aerospace you really wouldn't know what dd is until you are involved with 110 penny companies. go look on raging bull and listen and learn.
nid going wrong way again
Sunday, April 15, 2007
1 Iraqi Dinar = 0.0008234 US Dollar
1 US Dollar (USD) = 1214.50 Iraqi Dinar (IQD)
Learn about the new Iraqi Dinar
Median price = 0.0007502 / 0.0008234 (bid/ask)
Minimum price = 0.0007502 / 0.0008234
Maximum price = 0.0007502 / 0.0008234
FXTrade: Online Currency Trading with OANDA FXTrade.
FXConverter - Currency Converter for 164 Currencies164 Currency Converter © 1997-2007 by OANDA.com.
Turkey vows $3.5 bln trade volume with Iraq
--------------------------------------------------------------------------------
Turkey vows $3.5 bln trade volume with Iraq
http://www.iraqdirectory.com/DisplayNews.aspx?id=3614
Meters Cost Iraq Billions In Stolen Oil
Meters Cost Iraq Billions In Stolen Oil
KTVT Investigation: Lack Of Metering At Terminals Funnels Billions Into Hands Of Corrupt Officials And Insurgents
CBS News - [10/02/2007]
Atop Iraq's al Basrah Oil Terminal, heavily armed anti-terrorism forces stand guard — while the theft of the century may be occurring right under their noses. Tankers berthed at the sprawling platform, located off Iraq's southern coast in the Persian Gulf, take on the oil that is the lifeblood of Iraq's war-torn economy.
Millions of dollars' worth of oil is stolen daily in Iraq because of the absence of oil meters, a basic tool for preventing corruption, according to estimates by classified CIA and State Department reports, the Iraq Study Group Report , a former consultant to a U.S. oil company and a former State Department adviser to Iraq's Oil Ministry.
A six-month investigation by KTVT found the annual thefts run into the billions of dollars and help fuel insurgents, sectarian militias and corrupt officials — as well as deprive the Iraqis of much-needed money to run their struggling government.
"I would say probably between 200,000 and 500,000 barrels a day is probably unaccounted for in Iraq," says Mikel Morris, who worked for the State Department's Iraq Reconstruction Management Organization (IRMO) in Baghdad. Depending on fluctuations in the price of oil, the thefts could be worth $20 million to $30 million per day.
A Houston-area petroleum engineer, Morris says Iraq's oil industry is wide-open to corruption because there are no working meters anywhere in the system to keep count of how many millions of barrels of oil Iraq produces or exports. "It’s like a supermarket without a cashier. There is no metering. And there's no metering at the well heads either. There's no metering at any of the major pipeline junctions," he says.
KTVT obtained photographs taken last spring during an Iraqi inspection that picture rusted, broken meters on the al Basrah Oil Terminal, known as the ABOT.
The bulk of Iraq's crude oil exports, which provided 94 percent of Iraq's $28 billion budget last year, are pumped into tankers at the terminal. The ABOT's oil meters have been inoperable since the U.S. invasion nearly four years ago, according to the U.S. Army Corps of Engineers, a former senior oil consultant for IRMO, statements by Iraqi officials and reports by a United Nations monitoring group.
Morris and other sources familiar with operations at the ABOT suspect that the inoperable meters allow corrupt officials to overload tankers with oil that is then sold on the black market. Intelligence reports warn that the profits from smuggled oil and petroleum products help fuel the insurgency in Iraq, though estimates of the losses vary widely.
A recent report to the Congressional leadership by the Government Accountability Office (GAO) also attributed the losses of Iraqi petroleum products to insurgents and underscored the absence of working meters. "According to State Department officials and reports, about 10 percent to 30 percent of refined fuels is diverted to the black market or is smuggled out of Iraq and sold for a profit. According to U.S. Embassy documents, the insurgency has been partly funded by corrupt activities within Iraq and from skimming profits from black marketers. In addition, Iraq lacks fully functioning meters to measure oil production and exports."
In an interview with KTVT, Samir Sumaidaie, Iraq's ambassador to the United States, conceded that there has been a massive theft of oil. "I heard about this metering problem and I think it's scandalous that we have not been able to do that,” he said. When asked where the half-million barrels of oil estimated to be stolen daily is going, Sumaidaie confirmed it was reaching insurgents and corrupt government officials. "We are facing a coalition, if you like, of extremists, terrorists, organized crime, and corruption. We are aware that there is corruption going on. And we are committed to fight that. But we also are not naive enough to believe that overnight that we can simply eliminate it. It will take time."
The ABOT is under the control of Iraq's state-owned South Oil Company, which is now dominated by Shiites in southern Iraq, and the sales are managed by the State Oil Marketing Organization (SOMO). Morris says SOMO has refused to divulge its export contracts, records of sales — or even the names of buyers — in order for him to estimate how much oil is being stolen. "There's a certain secrecy behind that, so that if you don't know what's being moved in country, then you don't know what's being lost, and you don't know what's being sold," he says. "Also, you don't know what political motivations are behind what political party wants to control the oil sales. So they can take their share of the crude sales for their own political contributions or aspirations. So there's always that push to control SOMO and keep the oil sales secret."
Parsons Iraq Joint Venture, a U.S. contractor based in Houston, is scheduled to complete installation of new meters on the ABOT by May. The Special Inspector General for Iraq Reconstruction (SIGIR) reported to Congress in its Jan. 30 report that work at the ABOT, "has suffered chronic schedule slippages." Morris says powerful people inside Iraq's Oil Ministry repeatedly blocked installation of meters and fought against other measures that would help stop pervasive corruption. "There were those people inside the ministry that didn't want the sales to be known. They were the ones who probably had the most authority, (the) most power inside the ministry."
Morris says the honest Iraqi professionals in the Oil Ministry who pushed for metering and transparency put their lives at risk. "Anytime you gave the impression that you were working with the U.S. and trying to clean up the corruption problems and the word got out, there were going to be people there to make sure you didn't. One of your family members was going to disappear, or you would disappear."
Morris also became a target. He says Oil Ministry insiders tipped off insurgents about his visits to oil facilities as well as to the ministry's headquarters in Baghdad. In 2005, his Army convoys suffered deadly attacks by a suicide bomber and another by a roadside bomb. "You feel betrayed because someone inside the ministry has already helped get you attacked and tried to kill you. Our young soldiers there would ask me at the end of the mission, 'What did you get done today? Were the meetings good? Are you getting something accomplished?' I feel bad about the deaths we had from the U.S. Army soldiers that died protecting us. It still hurts me."
Iraq holds the world's second-largest proven oil reserves — approximately 100 billion barrels, with the potential of as high as 200 billion barrels. Control of that wealth is now up for grabs and is the major driving force behind the violence in Iraq, according to Amy Myers Jaffe, an energy adviser to the Iraq Study Group, which was co-chaired by former Secretary of State James Baker and former Congressman Lee Hamilton. "You really have to think about the oil as just being dollars buried under the ground or buried in a pipeline or coming out of a refinery," she says. "It's like printed money. Imagine if in the middle of the night that you could just grab some metal tool and poke it into a pipeline where there is no security, drain out oil, put it into a truck, drive it somewhere, and become a millionaire in one day. So the incentive to steal or smuggle this oil and have it be a regular business is huge in a society where there are not good controls or security."
Jaffe, who is now the Director of Energy Studies for the Baker Institute at Rice University in Houston, says political and sectarian leaders now run Iraq's oil industry without oversight because the hurriedly passed constitution did not clearly define how to fairly divide up the country's mineral resources.
As a result, corruption has become embedded in Iraq's political system to a worse extent than during Saddam Hussein's regime, according to Jaffe. "Without oil meters and control systems, there is built up a whole black market. There are different groups that can control that flow," she says. "They can pay off politicians. They can pay off government officials and government inspectors. There are people inside the system now who are making personal, individual money, or their insurgency group or their political party is making money from corruption, from smuggling, from black market activities. So they are against instituting the kinds of procedures it would take to close all this down."
The Iraq Study Group Report warned that corruption is debilitating in Iraq's oil sector and recommended putting oil meters at both ends of the supply line. It's a recommendation that has been stalled for the past three years. "Those people who are courageous and stand up and say, 'I am going to order these meters and I am going to oversee that they will be put in place' get up in the morning and their cousin is found on the street dead and assassinated or their life is threatened," Jaffe says. They were afraid to attend technical training in the United States or testify before the Iraq Study Group, "because you have this sort of layer of evil element of people who are willing to just shoot people to prevent these systems from going into place. It's very hard to implement."
Prior to the U.S. invasion, an elaborate system of corruption for stealing oil already existed in Iraq to funnel money directly to Saddam through corruption of the U.N Oil for Food program. Last May, the House Government Reform Subcommittee on National Security heard testimony that the lack of functioning oil meters at the ABOT, which had been known as the Mina al-Bakr port, enabled the Iraqi government to smuggle oil by inspectors and to top off tankers with undocumented oil. A year after the U.S. invasion, the GAO estimated that from 1997 to 2002, the former Iraqi regime had misused the Food for Oil program to attain $10.1 billion in illegal revenues through kickbacks from oil sales and smuggling oil out of Iraq .
Jaffe says a cottage industry exists for redocumenting stolen oil cargo with phony bills of loading so that it can be sold into the market through corrupt brokers. "Many of the oil trading entities that helped Saddam in the days of oil for food could be seen loading oil in Iraq after the war. So there's no question that an enterprising individual, if there were not good control systems, which of course there were not after the war, could get those same players that were fooling the U.N. to set up similar systems to fool whoever is now in the Iraqi government to continue this corruption."
Morris suspects the Iraqis are now running a new kickback scheme by paying from $6 to $9 a barrel discounts to compensate buyers for the risk of bringing tankers into the troubled waters around the ABOT. Morris recommended that Iraq could lease its own tankers and turn profits in the millions of dollars by not having to pay the discounts. But his suggestion met stiff opposition. "I thought the discounts could possibly be a kickback. But there's no proof of that. I couldn't get access to any of the contracts. It could have been a kickback, but there was no way to verify it.”
The United States is now spending more than $10 million to replace the inoperable meters on the al Basrah Oil Terminal. It's the last stage of a $57.8 million overhaul of the terminal.
Overall, the United States is pumping $38 billion into infrastructure projects across Iraq. That includes spending $1.7 billion on 182 reconstruction projects to help improve Iraq's oil production infrastructure, refinery and export capacity. Yet Iraq's reported oil production remains below prewar levels.
Despite the Iraq Study Group's recommendation to install meters throughout Iraq's oil infrastructure, there are no plans to put meters anywhere else, according to the U.S. Army Corps of Engineers.
Jaffe says U.S. troops should have cordoned off secure "green zones" around the giant oil fields in southern Iraq, where it would have been easier and less expensive to produce oil and account for the revenue. "We had this very haphazard plan where pipeline projects were picked inside the Sunni Triangle. Why would you build an oil pipeline which is long and easy to blow up in a place where you have major parts of the insurgency?"
For example, Morris says pipelines for Iraq's refinery in Baiji, which is located north of Tikrit outside the apex of the Sunni Triangle, would be regularly blown up and parts of the refinery sabotaged in concert with insurgents to create fuel shortages in Baghdad. The regular disruptions at the refinery, operated by the state-owned North Refining Company, were designed to drive up the price of fuel on the black market. "They constantly work with insurgents to keep the fuel lines blown up and work with insurgents to keep fuel shortages in Baghdad. They also threaten the lives and families of refinery workers and fuel tank drivers. This refinery was corrupt during the Saddam days and needs to be seized by the Coalition Forces."
Morris recalls receiving an urgent plea for security assistance from a director general in Iraq's Oil Ministry in December of 2005. The Iraqi official warned that tanker truck drivers leaving the refinery were being threatened by insurgents. Morris says State Department officials declined to provide guards and accused him of overreacting. A few days later, the ambushes of tanker trucks started and remain unabated. Morris says it became clear that intelligence about tanker truck schedules was being fed to insurgents from the Oil Ministry.
In mid-January 2007, Iraqi Deputy Prime Minister Barham Saleh told a budget session of Parliament that the country was losing $1.5 billion to fuel smuggling from the Baiji refinery every year. "Most of this money goes to the terrorists, who target us and target our security," he said.
Last March, Morris received what he believed to be was a forged U.S. Army document from an Iraqi director general that accused specific officials in the Oil Ministry of corruption. The document alleged that Iraqi officials were creating fake invoices for construction work and the sale of petroleum products to the U.S. Army. Morris suspected that the allegations were true and recommended that the Iraqis seize the records so that the U.S. State Department could open an investigation. The next day, Morris says a fire mysteriously broke out in the Oil Ministry’s financial documents office and destroyed all of the financial documents in question.
Morris says that the U.S. was overwhelmed by corruption in Iraq's state-owned oil industry. "I got the impression that it was such a problem like the insurgency that no one knew the extent of it. No one really had a plan to come up with procedures or processes that deal with the problem."
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Home | News Archive | Newsletter | | عربي
i can post a miriad of links but the translation of those links into opinion could certainly get lost don't you agree?
the opinion here is that turkey will be supplying iraq with plenty of cheaper priced goods to in effect destroy the black market in iraq. why would they send 3.5 billion u.s. dollars in goods unless they were going to make a profit? how can you make a profit with worthless currency that nobody has? opinion is reval!!!!!!!!!!!!
your bud aerospace showed us last week how scarce gold is, with links , how can you just do away with the fed and have our government print new money backed by gold ? there isn't enough gold to go around according to him. and certainly not enough to go around to back the nid either.
aerospace also is quoted as saying that the nid will never be backed by their oil reserves either.
Iraq Targets 3 Million Bpd 2007 Oil Production -Oilmin
Iraq hopes to raise oil production by nearly 1 million barrels per day (bpd) this year, achieving its long-held target of 3 million bpd by restoring northern exports, its oil minister said on Thursday.
Iraq has struggled to overcome the sabotage and outdated infrastructure that has hobbled its production since the U.S.-led invasion of 2003, largely due to unrelenting attacks on a key pipeline that runs north through Turkey.
It has regularly fallen short of production and export targets aimed at restoring pre-war levels.
"Iraq wishes to exceed producing 3 million barrels a day in 2007 -- this is achievable by repairing the northern pipeline that connects to the Mediterranean," Hussain al Shahristani told Reuters after a meeting with South Korean energy officials.
Iraq produced 1.97 million bpd in March, up from 1.89 million bpd in February, a Reuters survey shows, but Shahristani said last December that 2006 production averaged 2.3 million bpd.
Despite the weak production figures, exports climbed last month to 1.62 million bpd, the highest since last September, on increased shipments from the southern Basra oil terminal, shipping sources said.
Shahristani said the country was targeting oil production of more than 4 million bpd in 2011.
Shahristani was in Seoul to sign a cooperation deal with South Korea's energy minister Kim Young-joo on broadening opportunities for South Koreans to secure oilfields in Iraq, anxious to inject new investment into the ailing industry.
In 1997, state-owned Korea National Oil Corp. (KNOC) and Iraq's oil ministry under Saddam Hussein signed a preliminary deal to develop the Halfaya oilfield, estimated to hold up to 3.8 billion barrels of reserves and produce 250,000 bpd.
The South Korean energy ministry said the deal was never followed through due to United Nations financial sanctions against Iraq. But Iraq will "positively consider" involving South Korea in the field once oil legislation is in place, according a memorandum of understanding signed by the two sides on Thursday.
Iraq issued invitations for 15 Arab, Asian and American firms to drill 100 oil wells in the country's south as part of efforts to boost production, the oil ministry said earlier this month.
The OPEC member has the world's third-largest proven oil reserves and needs billions of dollars to revive its oil sector, which is crucial for rebuilding its shattered economy.
In February Iraq's cabinet endorsed a draft oil law regulating how wealth from the country's vast oil reserves will be shared by its ethnic and sectarian groups.
The oil law, which is awaiting parliament's ratification, has given the regions the right to negotiate with international firms on developing oilfields.
"It is achievable to pass the law within two months since all political parties are in favor," Shahristani said.
The law will also restructure the Iraq National Oil Company (INOC) as an independent holding firm and establish a Federal Council as a forum for national oil policy.
The world's top oil companies have been maneuvering for years to win a stake in Iraq's prized oilfields such as Bin Umar, Majnoon, Nassiriyah, West Qurna and Ratawi, all located in the south of the country.
Source: Reuters
Links of Interest:
US Department of State
CIA World Fact Book
Operation Iraqi Freedom
Energy Information Administration
Coalition Provisional Authority
US Treasury - Financial Management Services
2006 INVESTMENT CLIMATE STATEMENT - IRAQ
New Iraqi Dinar
View Latest News On Iraq
Iraq Top of Page
Background:
Formerly part of the Ottoman Empire, Iraq was occupied by Britain during the course of World War I; in 1920, it was declared a League of Nations mandate under UK administration. In stages over the next dozen years, Iraq attained its independence as a kingdom in 1932. A "republic" was proclaimed in 1958, but in actuality a series of military strongmen ruled the country until 2003, the last was SADDAM Husayn. Territorial disputes with Iran led to an inconclusive and costly eight-year war (1980-88). In August 1990, Iraq seized Kuwait, but was expelled by US-led, UN coalition forces during the Gulf War of January-February 1991. Following Kuwait's liberation, the UN Security Council (UNSC) required Iraq to scrap all weapons of mass destruction and long-range missiles and to allow UN verification inspections. Continued Iraqi noncompliance with UNSC resolutions over a period of 12 years led to the US-led invasion of Iraq in March 2003 and the ouster of the SADDAM Husayn regime. Coalition forces remain in Iraq under a UNSC mandate, helping to provide security and to support the freely elected government. The Coalition Provisional Authority, which temporarily administered Iraq after the invasion, transferred full governmental authority on 28 June 2004 to the Iraqi Interim Government, which governed under the Transitional Administrative Law for Iraq (TAL). Under the TAL, elections for a 275-member Transitional National Assembly (TNA) were held in Iraq on 30 January 2005. Following these elections, the Iraqi Transitional Government (ITG) assumed office. The TNA was charged with drafting Iraq's permanent constitution, which was approved in a 15 October 2005 constitutional referendum. An election under the constitution for a 275-member Council of Representatives (CoR) was held on 15 December 2005. The CoR approval in the selection of most of the cabinet ministers on 20 May 2006 marked the transition from the ITG to Iraq's first constitutional government in nearly a half-century.
Geography Iraq Top of Page
Location:
Middle East, bordering the Persian Gulf, between Iran and Kuwait
Geographic coordinates:
33 00 N, 44 00 E
Map references:
Middle East
Area:
total: 437,072 sq km
land: 432,162 sq km
water: 4,910 sq km
Area - comparative:
slightly more than twice the size of Idaho
Land boundaries:
total: 3,650 km
border countries: Iran 1,458 km, Jordan 181 km, Kuwait 240 km, Saudi Arabia 814 km, Syria 605 km, Turkey 352 km
Coastline:
58 km
Maritime claims:
territorial sea: 12 nm
continental shelf: not specified
Climate:
mostly desert; mild to cool winters with dry, hot, cloudless summers; northern mountainous regions along Iranian and Turkish borders experience cold winters with occasionally heavy snows that melt in early spring, sometimes causing extensive flooding in central and southern Iraq
Terrain:
mostly broad plains; reedy marshes along Iranian border in south with large flooded areas; mountains along borders with Iran and Turkey
Elevation extremes:
lowest point: Persian Gulf 0 m
highest point: unnamed peak; 3,611 m; note - this peak is not Gundah Zhur 3,607 m or Kuh-e Hajji-Ebrahim 3,595 m
Natural resources:
petroleum, natural gas, phosphates, sulfur
Land use:
arable land: 13.12%
permanent crops: 0.61%
other: 86.27% (2005)
Irrigated land:
35,250 sq km (2003)
Natural hazards:
dust storms, sandstorms, floods
Environment - current issues:
government water control projects have drained most of the inhabited marsh areas east of An Nasiriyah by drying up or diverting the feeder streams and rivers; a once sizable population of Marsh Arabs, who inhabited these areas for thousands of years, has been displaced; furthermore, the destruction of the natural habitat poses serious threats to the area's wildlife populations; inadequate supplies of potable water; development of the Tigris and Euphrates rivers system contingent upon agreements with upstream riparian Turkey; air and water pollution; soil degradation (salination) and erosion; desertification
Environment - international agreements:
party to: Biodiversity, Climate Change, Law of the Sea
signed, but not ratified: Environmental Modification
Geography - note:
strategic location on Shatt al Arab waterway and at the head of the Persian Gulf
People Iraq Top of Page
Population:
26,783,383 (July 2006 est.)
Age structure:
0-14 years: 39.7% (male 5,398,645/female 5,231,760)
15-64 years: 57.3% (male 7,776,257/female 7,576,726)
65 years and over: 3% (male 376,700/female 423,295) (2006 est.)
Median age:
total: 19.7 years
male: 19.6 years
female: 19.8 years (2006 est.)
Population growth rate:
2.66% (2006 est.)
Birth rate:
31.98 births/1,000 population (2006 est.)
Death rate:
5.37 deaths/1,000 population (2006 est.)
Net migration rate:
0 migrant(s)/1,000 population (2006 est.)
Sex ratio:
at birth: 1.05 male(s)/female
under 15 years: 1.03 male(s)/female
15-64 years: 1.03 male(s)/female
65 years and over: 0.89 male(s)/female
total population: 1.02 male(s)/female (2006 est.)
Infant mortality rate:
total: 48.64 deaths/1,000 live births
male: 54.39 deaths/1,000 live births
female: 42.61 deaths/1,000 live births (2006 est.)
Life expectancy at birth:
total population: 69.01 years
male: 67.76 years
female: 70.31 years (2006 est.)
Total fertility rate:
4.18 children born/woman (2006 est.)
HIV/AIDS - adult prevalence rate:
less than 0.1% (2001 est.)
HIV/AIDS - people living with HIV/AIDS:
less than 500 (2003 est.)
HIV/AIDS - deaths:
NA
Nationality:
noun: Iraqi(s)
adjective: Iraqi
Ethnic groups:
Arab 75%-80%, Kurdish 15%-20%, Turkoman, Assyrian or other 5%
Religions:
Muslim 97% (Shi'a 60%-65%, Sunni 32%-37%), Christian or other 3%
Languages:
Arabic, Kurdish (official in Kurdish regions), Assyrian, Armenian
Literacy:
definition: age 15 and over can read and write
total population: 40.4%
male: 55.9%
female: 24.4% (2003 est.)
Government Iraq Top of Page
Country name:
conventional long form: Republic of Iraq
conventional short form: Iraq
local long form: Al Jumhuriyah al Iraqiyah
local short form: Al Iraq
Government type:
parliamentary democracy
Capital:
name: Baghdad
geographic coordinates: 33 21 N, 44 25 E
time difference: UTC+3 (8 hours ahead of Washington, DC during Standard Time)
daylight saving time: +1hr, begins 1 April; ends 1 October
Administrative divisions:
18 governorates (muhafazat, singular - muhafazah); Al Anbar, Al Basrah, Al Muthanna, Al Qadisiyah, An Najaf, Arbil, As Sulaymaniyah, At Ta'mim, Babil, Baghdad, Dahuk, Dhi Qar, Diyala, Karbala', Maysan, Ninawa, Salah ad Din, Wasit
Independence:
3 October 1932 (from League of Nations mandate under British administration); note - on 28 June 2004 the Coalition Provisional Authority transferred sovereignty to the Iraqi Interim Government
National holiday:
Revolution Day, 17 July (1968); note - this holiday was celebrated under the SADDAM Husayn regime; the Government of Iraq has yet to declare a new national holiday
Constitution:
ratified on 15 October 2005 (subject to review by the Constitutional Review Committee and a possible public referendum in 2007)
Legal system:
based on European civil and Islamic law under the framework outlined in the Iraqi Constitution
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Jalal TALABANI (since 6 April 2005); Vice Presidents Adil ABD AL-MAHDI and Tariq al-HASHIMI (since 22 April 2006); note - the president and vice presidents comprise the Presidency Council)
head of government: Prime Minister Nuri al-MALIKI (since 20 May 2006); Deputy Prime Ministers Barham SALIH and Salam al-ZUBAI (since 20 May 2006)
cabinet: 37 ministers appointed by the Presidency Council, plus Prime Minister Nuri al-MALIKI, and Deputy Prime Ministers Barham SALIH and Salam al-ZUBAI
elections: held 15 December 2005 to elect a 275-member Council of Representatives
Legislative branch:
bicameral Council of Representatives (consisting of 275 members elected by a closed-list, proportional representation system) and a Federation Council (membership not established and authorities undefined)
elections: held 15 December 2005 to elect a 275-member Council of Representatives; the Council of Representatives elected the Presidency Council and approved the Prime Minister
election results: Council of Representatives - percent of vote by party - Unified Iraqi Alliance 41%, Kurdistan Alliance 22%, Tawafuq Coalition 15%, Iraqi National List 8%, Iraqi Front for National Dialogue 4%, others 10%; number of seats by party - Unified Iraqi Alliance 128, Kurdistan Alliance 53, Tawafuq Coalition 44, Iraqi National List 25, Iraqi Front for National Dialogue 11, others 14
Judicial branch:
the Iraq Constitution calls for the Federal Judicial Authority, comprised of the Higher Juridical Council, Supreme Federal Court, Federal Court of Cassation, Public Prosecution Department, Judiciary Oversight Commission and other federal courts that are regulated in accordance with the law
Political parties and leaders:
Assyrian Democratic Movement [Yunadim KANNA]; Badr Organization [Hadi al-AMIRI]; Constitutional Monarchy Movement or CMM [Sharif Ali Bin al-HUSAYN]; Da'wa al-Islamiyya Party [Ibrahim al-JA'FARI]; General Conference of Iraqi People [Adnan al-DULAYMI]; Independent Iraqi Alliance or IIA [Falah al-NAQIB]; Iraqi Communist Party [Hamid al-MUSA]; Iraqi Front for National Dialogue [Salih al-MUTLAQ]; Iraqi Hizballah [Karim Mahmud al-MUHAMMADAWI]; Iraqi Independent Democrats or IID [Adnan PACHACHI, Mahdi al-HAFIZ]; Iraqi Islamic Party or IIP [Tariq al-HASHIMI]; Iraqi National Accord or INA [Ayad ALLAWI]; Iraqi National Congress or INC [Ahmad CHALABI]; Iraqi National Council for Dialogue or INCD [Khalaf Ulayan al-Khalifawi al-DULAYMI]; Iraqi National Unity Movement or INUM [Ahmad al-KUBAYSI, chairman]; Islamic Action Organization or IAO [Ayatollah Muhammad al-MUDARRISI]; Jama'at al Fadilah or JAF [Muhammad Ali al-YAQUBI]; Kurdistan Democratic Party or KDP [Masud BARZANI]; Kurdistan Islamic Union [Salah ad-Din Muhammad BAHA al-DIN]; National Reconciliation and Liberation Party [Mishan al-JABBURI]; Patriotic Union of Kurdistan or PUK [Jalal TALABANI]; Sadrist Trend [Muqtada al-SADR] (not an organized political party, but it fields independent candidates affiliated with Muqtada al-SADR); Supreme Council for the Islamic Revolution in Iraq or SCIRI [Abd al-Aziz al-HAKIM]
note: the Kurdistan Alliance, Iraqi National List, Tawafuq Coalition, Iraqi Front for National Dialogue, and Unified Iraqi Alliance were only electoral slates consisting of the representatives from the various Iraqi political parties
Political pressure groups and leaders:
an insurgency against the Government of Iraq and Coalition forces is primarily concentrated in Baghdad and in areas north, northeast, and west of the capital; the diverse, multigroup insurgency consists principally of Sunni Arabs whose only common denominator is a shared desire to oust the Coalition and end US influence in Iraq; a number of predominantly Shia militias, some of which are associated with political parties, challenge governmental authority in Baghdad and southern Iraq
International organization participation:
ABEDA, AFESD, AMF, CAEU, FAO, G-77, IAEA, IBRD, ICAO, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, LAS, NAM, OAPEC, OIC, OPEC, PCA, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO (observer)
Diplomatic representation in the US:
chief of mission: Ambassador Samir Shakir al-SUMAYDI
chancery: 1801 P Street, NW, Washington, DC 20036
telephone: [1] (202) 483-7500
FAX: [1] (202) 462-5066
Diplomatic representation from the US:
chief of mission: Ambassador Zalmay KHALILZAD
embassy: Baghdad
mailing address: APO AE 09316
telephone: 00-1-240-553-0584 ext. 5340 or 5635; note - Consular Section
FAX: NA
Flag description:
three equal horizontal bands of red (top), white, and black with three green five-pointed stars in a horizontal line centered in the white band; the phrase ALLAHU AKBAR (God is Great) in green Arabic script - Allahu to the right of the middle star and Akbar to the left of the middle star - was added in January 1991 during the Persian Gulf crisis; similar to the flag of Syria, which has two stars but no script, Yemen, which has a plain white band, and that of Egypt which has a gold Eagle of Saladin centered in the white band; design is based upon the Arab Liberation colors
Economy Iraq Top of Page
Economy - overview:
Iraq's economy is dominated by the oil sector, which has traditionally provided about 95% of foreign exchange earnings. Iraq's seizure of Kuwait in August 1990, subsequent international economic sanctions, and damage from military action by an international coalition beginning in January 1991 drastically reduced economic activity. Although government policies supporting large military and internal security forces and allocating resources to key supporters of the regime hurt the economy, implementation of the UN's oil-for-food program, which began in December 1996, helped improve conditions for the average Iraqi citizen. Iraq was allowed to export limited amounts of oil in exchange for food, medicine, and some infrastructure spare parts. In December 1999, the UN Security Council authorized Iraq to export under the program as much oil as required to meet humanitarian needs. The military victory of the US-led coalition in March-April 2003 resulted in the shutdown of much of the central economic administrative structure. Although a comparatively small amount of capital plant was damaged during the hostilities, looting, insurgent attacks, and sabotage have undermined efforts to rebuild the economy. Attacks on key economic facilities - especially oil pipelines and infrastructure - have prevented Iraq from reaching projected export volumes, but total government revenues have been higher than anticipated due to high oil prices. Despite political uncertainty, Iraq is making some progress in building the institutions needed to implement economic policy and has negotiated a debt reduction agreement with the Paris Club and a Standby Arrangement with the IMF. An International Compact with Iraq is being established to integrate Iraq into the regional and global economy, while recognizing the need to resolve destabilizing security and political conflicts. Additionally, the Iraqi government is seeking to pass laws to strengthen the economy; this legislation includes a hydrocarbon law to encourage contracting with foreign investors and a revenue sharing law to equitably divide oil revenues within the nation. Controlling inflation, reducing corruption, and implementing structural reforms such as bank restructuring and developing the private sector, will be key to Iraq's economic prospects.
GDP (purchasing power parity):
$87.9 billion (2006 est.)
GDP (official exchange rate):
$40.66 billion (2006 est.)
GDP - real growth rate:
2.4% (2006 est.)
GDP - per capita (PPP):
$2,900 (2006 est.)
GDP - composition by sector:
agriculture: 7.3%
industry: 66.6%
services: 26.1% (2004 est.)
Labor force:
7.4 million (2004 est.)
Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%
Unemployment rate:
25% to 30% (2005 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
64.8% (2006 est.)
Budget:
revenues: $33.4 billion
expenditures: $41 billion (2006 est.)
Agriculture - products:
wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry
Industries:
petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal fabrication/processing
Industrial production growth rate:
NA%
Electricity - production:
34.6 billion kWh (2006)
Electricity - consumption:
33.3 billion kWh (2005)
Electricity - exports:
0 kWh (2005)
Electricity - imports:
2.02 billion kWh (2005)
Oil - production:
2.13 million bbl/day; note - prewar production in 2002 was 2.2 million bbl/day (2006 est.)
Oil - consumption:
377,000 bbl/day (2006 est.)
Oil - exports:
1.5 million bbl/day (2006 est.)
Oil - imports:
0 bbl/day (2006)
Oil - proved reserves:
112.5 billion bbl (2006 est.)
Natural gas - production:
1.75 billion cu m (2006 est.)
Natural gas - consumption:
1.75 billion cu m (2006 est.)
Natural gas - exports:
0 cu m (2006 est.)
Natural gas - imports:
0 cu m (2006 est.)
Natural gas - proved reserves:
3.115 trillion cu m (1 January 2005 est.)
Current account balance:
$8.134 billion (2006 est.)
Exports:
$32.19 billion f.o.b. (2006 est.)
Exports - commodities:
crude oil 84%, crude materials excluding fuels 8%, food and live animals 5%
Exports - partners:
US 49.7%, Italy 10.4%, Spain 6.3%, Canada 5.6% (2005)
Imports:
$20.76 billion f.o.b. (2006 est.)
Imports - commodities:
food, medicine, manufactures
Imports - partners:
Turkey 23.4%, Syria 23.1%, US 11.7%, Jordan 6.3% (2005)
Reserves of foreign exchange and gold:
$15.65 billion (2006 est.)
Debt - external:
$81.48 billion (2006 est.)
Economic aid - recipient:
$13.5 billion pledged in foreign aid for 2004-07 from outside of the U.S., over $33 billion pledged total (2004)
Currency (code):
New Iraqi dinar (NID) as of 22 January 2004
Exchange rates:
New Iraqi dinars per US dollar - 1,466 (2006), 1,475 (2005), 1,890 (second half, 2003), 0.3109 (2001)
Fiscal year:
calendar year
Communications Iraq Top of Page
Telephones - main lines in use:
1.547 million (2005)
Telephones - mobile cellular:
8.7 million (2006)
Telephone
post your findings on what you just said, show us that dissolving the federal reserve system and having the u.s. government print money back by gold will solve anything!stand your ground hypocrite.wheres the dd?
you posted
Posted by: locustsuc
In reply to: RJ Trotts who wrote msg# 6131 Date:4/14/2007 7:54:44 PM
Post #of 6137
Where was the DD? He basically says don't ask me were i got this from. Most likely it's all made up. Say what you guys will about Aerospace but he is one of the few that actually does DD and posts his findings supported with links
i posted many links yesterday as to the common knowledge that the fed reserve sold dollars for 7.5trillion dinars and the links go to a major article that shows what happened.
go play aerospace's guitar!
always choose reality over the conspiracy rumours that you repeat in your post. I will never debate or otherwise engage in discussion of conspiracy theories about the U.S.A.
Hardly what a Patriot does !
grow up man. get a life. go read the book "no one dare call it conspiracy". plenty of good patriots have exposed plenty of conspiracy in this country. "bob mahue" of hughes corp. just confessed of his conspiracy to kill castro with the help of the mafia and the cia years ago. you have been living with your head in a hole? 1967 the uss liberty damn near sunk by isreali fire and conspiracy theorists were proven right 30 years later. there are hundreds and as long as americans live with their head in a hole they will get shot in the rear everytime. do you think we are all lilly whitebread and christian and a wonderful people? we will play all the ugly games if we don't get our way. saddam was our ally at one time because there were people worse than him around and we needed him then. do you think saddam had wmd? the conspiracy theorists did?
good patriots question everything.
that is 1/3 of iraq present oil reserves isn't it? i think with these modern methods used today they can determine much more oil world wide. wait until we unveil the largest oil reserve of all in colorado territory one day in th u.s. of 3 trillion bbls of light sweet crude!!!!
buying dinars saves american bloodshed in iraq and also saves iraqi lives ..it is your patriotic duty to buy these dinars.
it is your patriotic duty to buy vnd also. vn ,we were fighting commies,trying to cut off their major food supply lines,it did not work, or did it? vn being the 150 wto member there will be no more commie threat, it free trading now...and with the recent news that vn now wants its currency fully convertible ,that means forex 24/7 convertibility. the forex traders have been hording vnd big time in their homes just waiting for it to start trading. ali says 4/15 to 5/01 should be trading according to what his rumors/traders are hearing. ali is hording both nid and vnd.
don't bother asking me where i get all this info. i read 80 hours a week all over, everywhere i can on everything about iraq and viet nam ...
if you are holding ,you are a patriot.
vnd and nid
buying dinars saves american bloodshed in iraq and also saves iraqi lives ..it is your patriotic duty to buy these dinars.
it is your patriotic duty to buy vnd also. vn ,we were fighting commies,trying to cut off their major food supply lines,it did not work, or did it? vn being the 150 wto member there will be no more commie threat, its free trading now...and with the recent news that vn now wants its currency fully convertible ,that means forex 24/7 convertibility. the forex traders have been hording vnd big time in their homes just waiting for it to start trading. ali says 4/15 to 5/01 should be trading according to what his rumors/traders are hearing. ali is hording both nid and vnd.
don't bother asking me where i get all this info. i read 80 hours a week all over, everywhere i can on everything about iraq and viet nam ...
if you are holding ,you are a patriot.
opinion THERE ARE LESS THAN 1 TRILLION DINARS IN ALL OF IRAQ .
iraqis have been warning that there will be no further dinars leaving iraq. iraq sold 7.5 trillion to the fed and received 5b u.s. but i believe there was 2 traunches sold not one so that is 15 trillion and 4 to 5 trillion dinars retired or sold to isreal ,and us, through resellers and many other countrys of marshall plan speculators.
the goods and services are becoming more favorable to the dinar since iraq has demanded that the new iraqi dinar is the currency of choice, and we have scared a lot of the black market into lowering their rates for goods or be punished by the u.s. military,and we are encouraging turkey and other countries to bring in goods cheaper.
with 1 trillion dinars and a new american law that all dinar holders in the u.s. have to hold for three years or face a tax and a surcharge for early redemption, and a new law letting/demanding every bank in our country accept and open dinar accounts on a par level as u.s. dollars and receive a higher than normal interest rate for their pain in holding for three years. and after the three years ,you would be allowed to sell 10% per year of your dinars in a u.s. bank,account,and for this the fed government will lower its tax on the dinar to a more favorable rate than long term capital gains. also dinar accounts would be able to borrow american dollars off their dinar accounts at more favorable rates than the prevailing marketplace.
these laws will be emergency laws that will be enacted by emergency session of congrees on the reval date or shortly thereafter.
buying dinars saves american bloodshed in iraq and also saves iraqi lives ..it is your patriotic duty to buy these dinars.
it is your patriotic duty to buy vnd also. vn ,we were fighting commies,trying to cut off their major food supply lines,it did not work, or did it? vn being the 150 wto member there will be no more commie threat, it free trading now...and with the recent news that vn now wants its currency fully convertible ,that means forex 24/7 convertibility. the forex traders have been hording vnd big time in their homes just waiting for it to start trading. ali says 4/15 to 5/01 should be trading according to what his rumors/traders are hearing. ali is hording both nid and vnd.
don't bother asking me where i get all this info. i read 80 hours a week all over, everywhere i can on everything about iraq and viet nam ...
if you are holding ,you are a patriot.
shhh! don't ever tell me i am wrong sadman did conquer them and he lived and prospered while secretly eliminating them. these are facts. these people have never had any freedom. rumor is we planted the bomb in the cafeteria because ,the parliament just sits there and talks,and talks and talks, and when the bell rings for lunch they are the first ones in the cafeteria eating our grub and stuffing their carnal gullets ,at our major expense ,and they are in no hurry to get back to work in parliament session. now the cafeteria is closed and they have to bring a sack lunch to parliament.
we are now putting the thoughts in their heads that this should be their pearl harbor and they need to make a huge thing about this and go forward and get er done.
this is a heavily fortified green zone ,it is almost an impossibility to get a bomb in there unless we brought it in there. i am all for it though if it works. it is just like the uss liberty 1967!
imho think what you want. do what you do. the only permanent solution is to reval.
also our soldiers will be there forever, just like south korea, germany, japan, what ? we have 700 bases accross the world now? we will never pull out of iraq, and i am glad.
iraq is the 51st state of the union and the sooner we realize it the better. pelosi can actually help the stiuation by scaring the iraqis to come together and get er done. she knows damn well her tactics won't work. she is just saber rattling.
lets hope monday is reval date.
SADMAN'S GANG CONQUERED THEM ! YES I HAVE HEARD OF A GANG CONQUERING A PEOPLE LOOK AT THE IRAN SITUATION..SOMETIMES I FEEL WE HAVE BEEN CONQUERED HERE IN AMERICA TOO.
Currency Conversion Results
Saturday, April 14, 2007
1 Iraqi Dinar = 0.0008258 US Dollar
1 US Dollar (USD) = 1210.92 Iraqi Dinar (IQD)
Learn about the new Iraqi Dinar
Median price = 0.0007524 / 0.0008258 (bid/ask)
Minimum price = 0.0007517 / 0.0008249
Maximum price = 0.0007552 / 0.0008292
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went back and found the thread about this
Proof the U.S. is sitting on Trillons of Dinar !!!! ???? ( 1 2 3 ... Last Page)
oldskiier
Honestly, Im lost on what to make of the whole
idea. I mean does the US even still hold this NID?
Has it been sold to investors? or sold back to Iraq?
Lets assume for a second that the US govt is holding the dinar to be used to purchase oil, now if they RV 1-1, are we (the US) really going to expect
$7.5 Trillion (TRILLION) from this war?
This is really an interesting thread and honestly it makes perfect sense. I can't imagine that the U.S. would make 7.5 trillion from a reval as that could end up breaking Iraq all over again, but what I can imagine is exactly what OS indicated and that is perhaps the U.S. made a deal for the 5 billion that they would trade it back in for oil at say 10 billion in the future.
This all makes a lot of sense because we know they want their currency to return to pre-war levels. They need their currency to be on par with surrounding oil producing free countries. They have an M2 that doesn't support it at face value so something curious has to be in the works, it has to be. Considering that Iraq could well be the richest nation in that region within a number of years a 'slow grow' will never bring them to greatness.
I'm really liking these thoughts and I would love to hear was SMUNSON has to weigh in with. I swear that guy is an economist as he puts facts to methods that I just can't disagree with. Let's see what he does with this factor.
Thanks OS...
I went back and found the thread about this
Proof the U.S. is sitting on Trillons of Dinar !!!! ???? ( 1 2 3 ... Last Page)
oldskiier
Honestly, Im lost on what to make of the whole
idea. I mean does the US even still hold this NID?
Has it been sold to investors? or sold back to Iraq?
Lets assume for a second that the US govt is holding the dinar to be used to purchase oil, now if they RV 1-1, are we (the US) really going to expect
$7.5 Trillion (TRILLION) from this war?
__________________
I AM WONDERING IF THIS WAS THE SECRET MEETING THAT SECRET KEY WAS TALKING ABOUT????
Conferences
USAID-sponsored conference focuses on future of Iraqi banking industry
--------------------------------------------------------------------------------
11 April 2007 (USAID)
Print article Send to friend
Iraqi banking industry leaders and international banking experts gathered in Amman, Jordan April 4 to 5 for the first Iraqi Banking and Finance Conference, Banking in Iraq: The 21st Century Challenge.
More than 200 delegates attended the two-day conference, organized by the U.S. Agency for International Development (USAID) through its Izdihar Private Sector Growth and Employment Generation and Economic Governance II projects.
Conference participants included representatives from the Central Bank of Iraq, Government of Iraq agencies, regulators, Iraq private and state owned banks, regional and international banking groups, non-bank financial institutions, bank training and certification organizations, banking experts and international donors.
http://www.iraqupdates.com/p_articles.php/article/16362
SORRY IF THIS IS A REPOST
taken from a poster at another board >>>>>>>>>>>>>>>>>>>>> Think I Stumbled On To How They Can Lower The M2 For A BIG RV !!!!!
--------------------------------------------------------------------------------
Read it carefully and think about it !!!
19,890...Reserve....M2 .....??
11,587...Currency out side banks....?? Iraq bought 5 billion USD back in 04 and paid lets say 7.5 trillion for it ...the reason was to help stop the apreciation of the dinar..becuase it was so popular remeber??.( John Taylors article "Billions Over Baghdad")...ok..(7.5 & 6,845 Bank Reserve) .14,345 Trillion ..that Iraq can play with ...who knows what kind of deal they might have made with the U.S over that 5 billion USD they bought ????see what I mean here....they could burn 14,345..which would take the M2 down to around 5,890 T dinar.....and turn around after a BIG RV and give the U.S lets say 10 billion for the 7.5 dinar ....HUMMMMMMMM ..? makes ya think huh ????
13,045....Currency issued....
6,845 ....Bank Reserves.... plus isuued (13,045) is how much printed...???
19,890....M2 ....?
its common knowledge that the iraqis bought 5b u.s. for 7.5 trillion nid. everybody knows it from way back!
Originally Posted by cowpoke
You would still have over 17 Trillion out there.
wrong......7.5 + 6,845 in reserves in the CBI vault....14,345 from the M2 of 19,890...leaving a M2 of only 5,890......and they could even lower that thru aictions like they have been doing !!!
11,578 outside the banks.....and 7.5 T of it is in the U.S from buying that 5 billion back in 04.....see now >>> read my 1st post closer
__________________
Originally Posted by cowpoke
OK I'm with you now.
Kind of like my reply to your other thread about the Japanese and the BOJ.
http://www.boj.or.jp/en/type/stat/bo.../ms/ms0703.pdf
Could some of these Dinars be there also because of the loans from the Japanese?
I HAVE NO IDEA AND WE DONT NEED THEM !!!! This is the Rabbit out of the hat we have been looking for !!! I'm sure of it ..!!!
__________________
It's a banking referance to a banks total mony...
M2: A wider definition of Money Supply that includes all of M1 plus savings accounts and other time deposits
Hope this helps
Yes thank you that helps I think?
So just so I got you right Iraq purchased 5 Bill US for 7.5 Tr IQD?
If so what is 7.5 T Divided by 5 B?
That comes out to around 1500?
That is what the dinar was worth last Nov 06?
Will this give us an idea of the new or hidden rate
i didn't write anything here , iy all came from another board that aerospace believes is a joke
But that wasn’t the only source of dollars. Because the new Iraqi dinar was so popular, the central bank bought billions of United States dollars to keep it from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank. Later, with American help, the Iraqi central bank deposited these billions at the New York Federal Reserve Bank, where they could earn interest."
http://www.nytimes.com/2007/02/27/op...prod=permalink
G H T I definite runner 357m volume
i think it is lunch time .the volume hasn't changed for awhile.
Symbol: GHTI
L2 Summary
Bid Level #MM's Size Ask Level #MM's Size
0.0000 0 0 0.0001 6 50000
0.0000 0 0 0.0002 3 15000
0.0000 0 0 0.0006 1 5000
0.0000 0 0 0.0022 1 5000
L2 Quote:
MM on Bid : 0
MM on Ask : 12
MM ID Bid Size Time
MM ID Ask Size Time
HILL 0.0001 5000 08:27:41
SBSH 0.0001 5000 08:27:42
NITE 0.0001 5000 08:27:42
SSGI 0.0001 25000 08:27:42
UBSS 0.0001 5000 08:27:42
STGI 0.0001 5000 11:50:10
VFIN 0.0002 5000 08:35:14
DOMS 0.0002 5000 08:42:52
ETRD 0.0002 5000 08:53:41
ABLE 0.0006 5000 08:27:41
SALI 0.0022 5000 08:28:48
HDSN 0.0150 5000 08:44:15