Iraq Dinar Speculation

Iraqi Finance Minister Baqer Jabr al-Zubaidi on the $7BB loan

The speculation is picking up steam with the latest news of a 7 billion dollar loan about to be agreed upon between the IMF and Iraq. Iraqi Finance Minister Baqer Jabr al-Zubaidi said yesterday that his ministry is preparing to sign the documents.

Iraq started a new round of negotiations with the IMF to sign new agreements, according which the country will get $7 billion to help it avoiding any financial problem in the coming two years…

Regarding the general budget, the minister said:

…we received the final report from the economic committee and there is no deficit problem in the next year’s general budget. A total of $1.875 billion will be added to the budget after receiving them from the mobile phones companies…

War in Baghdad coming when US troops withdraw next month.

The long waged war between the Shiites and Sunnis may have been quiet lately, but the impending withdrawal of American troops next month may mark a huge change in the unwritten policies of the insurgent groups.

Quoted from a Sunni commander, who chose to remain annonymous:

If we hear from the Americans that they are unable to support us, within 6 hours we will establish our forces to fight the corrupt government. There will be war in Iraq.

Although there has been a cease fire agreement, the Sunnis have watched the Shiite led government continue to jail it’s fighters. As it becomes more apparent that the political battle is not making headway for the Sunnis, they will have no choice but to take up arms.

President Obama officially extends order 13033

May 22 of 2003, President Bush declared a national emergency protecting the Development Fund for Iraq via Executive OPrder 13303. Current US President Barrack Obama has issued an officialextension to this emergency.

Obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States. Accordingly, I have determined that it is necessary to continue the national emergency with respect to this threat and maintain in force the measures taken to deal with that national emergency.

BARACK OBAMA

Full press release and link in the “Read More”.

According to the Ministry of Finance (Iraq), the Ministry of Oil is largely to blame for the deficit in the State’s budget. Although Iraq is not limited in quantities of exports, the Ministry of Oil has failed to increase exports.

Link to original story:  http://www.khabaar.com/news.php?action=view&id=1762

Read the rest of the story for the translation.

Due to an overwhelming amount of emails received about this topic, we will not be able to respond to each of you. There has been some talk, appparently, that a staff member of DinarSpeculation.com has been arrested for impersonating a government official in order to gain access to the information contained in our recent update regarding the upcoming June 1 deadline.

This rumor is untrue. DinarSpeculation.com is in no legal trouble, and we will continue to operate with no change.

Best regards,

The Dinar Speculation Team

Click the image to see the larger version. Future of the USD in Iraq as the IQD takes a stronger hold.

A quick update to the previous post concerning the move to use IQD rather than USD in Iraq. First, here is the original email sent to many military personel:

Subject: The Future of the USDolar in Theater (part 2)

UNCLASSIFIED

ALCON,
What this means to you:

Your old MoAs are good until 31 May 2009 or until replaced by
one signed by MAJ Harvey.

If you want to cash Corporate checks you really need to justify
it well. It will also slow down the approval process. So don’t put them
on the roster unless there is an actual need.

Effective 1 June 2009 we will no longer disburse US Dollars. You
need to push your employees towards EagleCash if they want to use the
local Finance office. They will still be able to use personal checks,
but the funds will be loaded on to an EagleCash Card. EagleCash can be
used everywhere on Tallil cash is not needed. They will also be able to
obtain Iraqi Dinar.

If you deal with Iraqi nationals you should be paying or
purchasing with Iraqi Dinars.

If you have any questions please let me know.

V/R

Next, here is the text from the file attached to this email. Click the image to the right to see the full size original.

Update: Future of the USD in Iraq
As U.S. Forces conduct stability operations in support of Operation Iraqi Freedom, the removal of US currency and increased use of Electronic Funds Transfers (EFT) and Iraqi Dinar are top priorities. Therefore, US currency will be reduced to an operational minimum at all finance offices in theater.

The U.S. Dollar is being phased out of the Iraqi theater. The increased use of Iraqi Dinar will facilitate a decrease in the dependency of the local economy on the U.S. Dollar, and to encourage Iraqi Financial Institutions to expand and mature into reliable resources for the Iraqi people.

“Tallil” is the US Airforce base just south of Baghdad, FYI.

The Future of U.S. Dollars in Iraq

As U.S. Forces conduct stability operations in support of Operation Iraqi Freedom, the removal of US currency and increased use of Electronic Funds Transfers (EFT) and Iraqi Dinar are top priorities. Therefore, US currency will be reduced to an operational minimum at all finance offices in theater.

The U.S. Dollar is being phased out of the Iraqi theater. The increased use of Iraqi Dinar will facilitate a decrease in the dependency of the local economy on the U.S. Dollar, and to encourage Iraqi Financial Institutions to expand and mature into reliable resources for the Iraqi people.

What this means to you:

•Effective 1 June 2009 the Finance office on Tallil will no longer disburse U.S. Dollars.

• All checks cashed will be loaded on to an EagleCash Card (ECC).

•You WILL NOT be able to withdraw US Dollars from your ECC.

•You WILL be able to withdraw Iraqi Dinar from your ECC at the daily exchange rate (rate changes daily).

•You must ensure that you maintain and secure your ECC. Protect it at all times as you would actual currency. Ensure that you have money in your account before you press load on the Kiosk. Change your PIN to something other than your default PIN.

What does this mean for us? Oh, it could mean a LOT! With the USD being pushed out further and further, Iraq has more control over the currency being used. This also gives Iraq a better handle on how much currency is in circulation, since it will begin forcing paper money out from under mattresses everywhere.

Stay tuned!

See the following from Warka Bank:

Dear Warka Investors, United Bank will be issuing 300% paid up shares at the price of IQD (1) per share for those shares owned prior to holding its general assembly meeting. Investors are kindly requested to submit their signed authorization letters to purchase the paid up shares by May 26th 2009 and any request received after this date will be considered null and void by our bank.

Best regards,

ISX Department Warka Bank for Investment and Finance

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-Adam Montana

I have a theory about the current events in Iraq, and how they will affect the value of the currency. I’m putting all of it together soon, and I’d love to know that I am going to get some feedback from the always growing readership here at Dinar Speculation. Hit he contact button and tell us if you’ll add a comment when we post official news!

Due to the response to our recent article regarding the ISX, we will be putting together a couple guides in the near future. One will detail how to invest in the ISX, and the other will talk about the HCL – Hydrocarbon Law as it pertains to Iraq and the future of our topic, Iraqi Dinar.

In other news, we’re looking for contributing authors! Do you regularly search for news about the Iraqi Dinar? How would you like the opportunity to be able to instantly share that news with a large and growing number of people who are also interested in this topic? No experience is necessary, only the desire to share.

Contact us if you’re interested, and stay tuned for upcoming articles! If you haven’t already, you can subscribe by email and get instant updates when we post new articles. Have a great day!

-Adam Montana

Dinar Speculation Admin