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Iraqi Dinar Buzz Updates

Steve Post: Peoples Dinar 1/1/11 (Where We Are…)
2011-01-02 05:13:39
Note: I have many more points to insert and will update throughout this weekend.

Let’s all sit back and ask our selves why we invested in this country?
I will give you some of mine, but we all have our own reasons:

1. Why my wife and I purchased the new Iraqi Dinar: Iraq will change history and successfully bring its low currency to an internationally recognized in the whole world.

2. Iraq is Making all the Right Moves: Very soon, Iraq will be a full member of the WTO. According to article 6 of WTO terms and conditions for joining, an interested country will have to ensure that its currency is fully convertible. As at March 2008, the latest news report stipulates that Iraq is nearing completion of attaining a full WTO membership status.

3. Iraq Debt and the Growth of the Dinar: The country is devoid of debt according to the Paris club agreements. Over 80% of its debt owed under the Saddam-led government has been written off.

4. Iraq Business Opportunities: My partner and I have joint partnership in a business in Iraq.

5. Foreign Investment Law and Selling of the Iraq Dinar: The Iraqi Government passed the Foreign Investment Law on August 2007. According to the law, foreigners can own businesses, shares and others, in addition to the right to freely transfer funds in and out of Iraq.

6. Hydro Carbon Law Oil Law (Oil Law) Stabilization and Dinar Revaluation: This is the most vital legislation that the Iraqi Government will pass in the term of office. The law comprehensively covers all issues having to do with revenue sharing between various groups and regions in Iraq.

7. Central Bank of Iraq and Dinar Currency: The Central Bank of Iraq, CBI, an independent agency, is not affected by the various political parties and factions in Iraq.

8. Iraqi Dinar and the Iraqi Monetary System: The monetary system put in place by the new government gives room for foreign investment, which is paramount in developing a viable economy.

9. Great investments in the Iraqi Stock Market: My wife and I have every intention of making further investments in this new market.

10. Property Prices/ Real Estate Market Dinar Revaluation: The real estate sector in Iraq is witnessing boom, mostly due to the restrictive policies of the past regime. Because of large inflow of money into the country, Iraqis are now purchasing houses in locations meant for even government officials. Just look at the many articles I posted about new housing projects in this country.

11. Regional Agreements and Iraq is Moving Forward: In an effort to foster the exportation of its oil and gas reserves through pipelines established in nearby countries, Iraq has established fruitful relationships. Read my articles below and comments.

12. Oil Production, Stabilization & Dinar Revaluation: With the firm footing of the new government in the right place, infrastructure reconstruction, such as rebuilding many of the major oil fields, is achieving the much needed progress. Meanwhile, Iraq has entered into agreements with international oil companies for the exploitation of its huge oil reserves. Just read my comprehensive 5 part Iraq Oil Series.

13. Do You Think Iraq Has Already Reached Its Economic Potential? Perhaps, the answer is easier than it appears. Can you take your mind back to your young days on earth when your parents or teachers complained that you were not attaining your natural ability to perform? This is also true for countries and economists usually in charge of considering the economic potential of countries. In a few words, economists agree that Iraq has great economic potential but will need time to attain it.

14 Do you think the value of the Iraq Dinar will remain the same? No way, and CBI confirms it: Baghdad 26 November (aknews) – the Central Bank of Iraq, Friday, the success of his plans to maintain and strengthen the dinar issued in global stable monetary regulation States. Valid explained that “the monetary value of the Iraqi dinar has risen thanks to plans and actions taken by the Central Bank of Iraq’s financial currency liberalization of routine and administrative constraints.

Enough of my thoughts, now some of the actual hard core printed facts:
Maliki – Investments – STEVEI
January 1, 2011
This is a perfect time to look at a few news articles over the past several days that are now connecting things together very nicely.
First would be the December 31 article called: Economist: delay approving the budget would reduce the incentive for private sector investment <– PD Link

Recap of that article:

Financial expert warned Hamad Bashir Alwan of the delay in approving the budget for the financial Szbbh to reduce the incentive for private sector investment in the country.

He warned of the delay in approving the budget more than that causing a reduced incentive for the private sector to invest in the country, which generates therefore prevail has the spirit of pessimism because the investor is always looking for opportunities for profitable and safe if not fired budgets they certainly will expect that there is nothing will reduce the motivation for investment, indicating that there is another negative aspect is the low levels of income for all segments of society because the budget allocation process is a way to enter the government as that government spending is part of the application which is a special and spend a year, which in turn is divided into consumer and government spending and investment in particular.

Secondly would be regarding need for re-evaluation of the Iraq currency. Back in February of last year, Maliki’s quote was “The Iraqi dinar has all the reasons to grow stronger thanks to an increase in revenues and development of the economy,”
Recap of that article:
The Iraqi dinar’s exchange rate is suffering from low value against foreign currencies as a result of decades of wars and economic embargo that brought the local currency’s exchange rate to the rock bottom from three dinars per dollar in the late 1970s and 1980s to 3,000 dinars per dollar after the 1990 invasion of Kuwait, followed by a 13-year crippling sanctions regime.
Lastly, we have this new article dated December 31 where Maliki is quoted “We have no restrictions on their [foreign investors] entry. We want them,” Maliki told The Wall Street Journal. “We need speed. We need money.” <– PD Link
Recap of that article:
Maliki last year gave the nod to a series of oil deals aimed at boosting the country’s oil production to more than 12 million barrels of crude oil per day in less than a decade. Exports and production, however, are limited in part by a lack of infrastructure at southern ports and a slow-moving political system.
Oil production has lingered at around 2.5 million barrels per day from Iraqi fields for years. Maliki said four new oil-exporting terminals off the coast of Basra, however, could push Iraq’s export capacity past the 3 million barrel mark by September, a first since the U.S.-led invasion of 2003.
Here is a recap of what we know:

1. We know that when Saddaam was in power and took the IQD basically off the market and put in place his own currency. Two things happen, one – the IMF dropped the IQD’s rate of $1.00 IQD to $3.22 USD and gave a temporary program rate of $1,170.00 IQD to $1.00 USD. Also, Iraq was dropped from the international community financially and every other way.

2. We know that Iraq is a proud nation and desperately wants to regain its position as an upstanding member of the international community once again. They have worked diligently and made great strides to accomplish this.

3. We see Iraqi dignitaries traveling around the globe having investment conferences to showcase the new Iraq and trying to draw in as much investment opportunities and business help as possible. <– PD Link

4. We have even verified that Shabibi, the head of the Central Bank of Iraq, fly over here and meet with Ben Bernanke in New York. If nothing were going to happen with the IQD and it would remain a non international currency with a worthless value, what would Ben Bernanke and Shabibi have to talk about for a complete day here in New York. My opinion, what they spoke about is how the US is going to release its Trillions of IQD’s in Foreign Currency Reserves back to Iraq over time.

5. We have seen hundreds of contracts being signed for international companies to move into Iraq for everything from Oil production to rebuilding the infrastructure.

6. We know that they have all the final steps in place to trade Iraq stock on the international market through IXS.

7. We know the issues between Iraq and Kuwait sanctions have been resolved.

8. We saw the UNSC lift all but one sanction posed against Iraq a couple of weeks ago, bringing them out of chapter 7 protection. The only thing left to completely lift chapter 7 is the RV, the promise Iraq made in the back room deals. This is being held over them as collateral for the Paris Club agreement.

9. The 2011 Draft Budget was developed around the new rate.

10. Also fact is that until they, at a minimum reinstate there currency back to the $1.00 IQD to $3.22 USD as it was before Saddaam took over. The IQD is not internationally recognized, that means no other banks outside of Iraq recognize it as legal tender. Which means it cannot be deposited into an account nor can there be any electronic funds transfers into the international community outside of Iraq. Why is that important, well we know Iraq has been working hard to develop relationships globally. As it stands right now, if Iraq buy a ship load of Toyota’s, because of the low value of the IQD, Toyota would need that same ship to carry the tons of IQD back to their mainland and then find someone to convert the IQD to their YEN, then they could bank it. Another huge problem with this is Iraq does not have enough printed IQD to work this way, nor do they want to.

11. We have Dr. Sinan al-Shibibi in news interviews and articles, on more than one occasion throughout the year telling us they are going to raise the value of their currency this year.

12. We know that Maliki wants our troops to leave.

13. We know that a couple of months ago the US sent 20,000 heavy Armor troops back to Iraq at a time when we are supposed to be winding down our occupation in Iraq. We have seen pictures where they have been putting huge concrete barricades that appear to be 12’ tall around all the banks in Iraq.

14. We believe that all of the auctions in Iraq over the last several months was to move the lower denomination bills to the Iraqi banks preparing for the RI/RV, for the Iraqi citizens. This is so they don’t have to carry a $5,000.00 bill to go and buy a loaf of bread, and how do you make change for that when you lowest bill is a $1,000.00 or a $5,000.00 IQD note. The reverse of that is they pass out the lower denomination notes but don’t RI/RV. Now you need a wheelbarrow to carry enough cash to buy that same loaf of bread… By the way I have seen pictures of these new notes, so I know they do exist.

15. We heard Maliki in his address last week, tell the GOI to revalue the IQD as soon as they can.

16. We know the 2011 budget will be passed into law very soon.

17. We know that Baker Jaber AL Zubaidi states that the Iraqi Dinar Value should be Raised. <– This is a great article with solid government links.

18. We know that the CBI Adviser stated that “We have a government surplus of 29 trillion dinars ($25B)”.

19. We know that Iraq has the oil to backup the new elevated currency.

20: CBI confirms the success of his plans to preserve the Iraqi dinar. This is one of the most power news reports I have ever seen.

Related Documents:
Iraq: Paris Club Debt Relief – PDF Format
So with all of these facts that are verified, it only leads to one conclusion. Iraq will, at a minimum reinstate their currency, they really have no other option if they are going to deal with the international community or deal with anyone outside of their borders…
The unconfirmed word is that because this is the plan to relieve the Global Financial crises we are all faced with that the UN/IMF/UNSC will wait no longer because many of the world economies cannot go another moment without this. The IMF has the power to step in and revalue the IQD on their own and they will at last resort.

Remember, this isn’t just Iraq’s ballgame, it is a carefully designed plan for the global economy…

Blessings to all.