Iraq Dinar Speculation

Hat tip to bluewaters2u, nice write up sir! Quoted text below relating to Iraq and the GCC:

This data clearly shows the strenght Iraq has and would bring to the GCC other than the weak current value of their Dinar…now would you not want to reinstate Iraq to the GCC with these numbers (compare them with the other GCC states and you decide)… It was suggested by the GCC a while back that they are looking at $1usd to $2.66 dinar (GCC) . I dont see any problem with Iraq meeting the requirments required to join the GCC….Blue
NOTE: these nubers were provided by the CIA at the end of 2008, as most of you know these numbers have greatly improved on Iraq’s Data. and not to forget the price of Oil for the last few months (price per barrel at est. $70.00).

Data / USD/local currency / GDP / GDP Growth

Iraq / 1170 / 112.8 B / 9.80%
Saudia Arabia / 3.75 / 582.8 B / 4.20%
UAE / 3.6725 / 184.6 B / 7.70%…

(Full numbers and links to articles in full story.)

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Occasioinally we hear people mention “American Contractor” when refering to dinar news. American Contractor could be considered a Dinar Speculator, so here’s the latest from a fellow Dinar Speculator. Click the link below to read it, and feel free to comment with your thoughts!

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Hey all, thanks again for continuing to stop by. Our “Dinar Speculators” love getting your feedback, hearing your dinar rumors, and being part of the Iraqi Dinar investment community. If you haven’t seen the Dinar Forum, one good one to check out is http://www.dinarvets.com. We’ve noticed a major difference in how the moderators treat the users on that Dinar Forum – people are allowed to call a spade a spade, for example. If you see a Dinar Speculator and you think they’re nothing but a pumper, you can call them that!

In other news… Chapter 7 has not lifted, the RV has not happened yet, and we have a couple of interesting articles coming this week. Join the newsletter, subscribe to the feed, and leave some comments on the articles our Dinar Speculators write if you’ve got some feedback.

Till next time!

~Dinar Spec Team

Apparently DinarTrade, one of the largest Dinar Dealers on the net, is so backed up with orders right now they can’t process them all! Rumor has it they are processing over 500 orders per day… here is what it says on the site:

All orders placed after Thursday 8AM will be shipped on Monday 17th the reason for this is that we are backed up with orders and dont have enough staff to process all the orders, We will lock in your price Guaranteed.

This has to be due to the recent rumors of “confirmed rates”, at least to our understanding. Also to our understanding is that these Dinar rumors are false. Don’t go betting the farm, friends!

As you know, the U.N. held a meeting regarding the situation in Iraq last week on Friday. Many people speculated it was going to address Chapter VII sanctions against Iraq and lead to a possible Revaluation (RV) of the currency and open up Internations Trading for the Iraqi Dinar, which was also what this Google Translated article supported. Latest intel suggests that …

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Well, here we are… rumors floating around about intel regarding a released rate, expected international trading of the Dinar, and “confirmed” bank policies (major banks, of course!) for cashing in our Iraqi Dinar.

Here is all the UN has released so far…

Friday, 7 August 2009
Security Council
6179th meeting The situation concerning Iraq
Report of the Secretary-General pursuant to paragraph 6 of resolution 1830
(2008) (S/2009/393)
The agenda was adopted without objection.
The President, with the consent of the Council, invited the representative of Iraq, at his
request, to participate in the consideration of the item without the right to vote, in
accordance with the relevant provisions of the Charter and rule 37 of the Council’s
provisional rules of procedure.
The President drew attention to the text of a draft resolution contained in document
S/2009/406, submitted by United Kingdom of Great Britain and Northern Ireland and
United States of America.
The Council proceeded to vote on the draft resolution (S/2009/406) before it.
Decision: The draft resolution (S/2009/406) received 15 votes in favour, none against.

Anyone hear any good news after the meeting yesterday?

U.S. support for Kuwait”s security and territorial integrity ”remains unchanged”
WASHINGTON: On the eve of the planned session of U.N. Security Council, a State Department official affirmed that the U.S. support for Kuwait”s “security and territorial integrity remains unchanged.” The Security Council is set to discuss on Friday the sanctions imposed on Iraq after Saddam Hussein”s invasion of Kuwait.
The American official, who requested anonymity, told KUNA that his country “appreciates the role that Kuwait has long played in efforts to bring stability to the region.” U.S.ـKuwait relations remain “broad and deep and anchored in our shared commitment to stability and prosperity in the region and beyond,” the U.S. official affirmed.
He added that his country also supports “Iraq”s goal of ending Chapter VII resolutions and we are working to help Iraq to take the necessary steps to that end.” He also voiced belief that; “this will advance the security of the entire region.” “We encourage continued discussions between the governments of Iraq and Kuwait on this and other issues,” the official source stressed. The source welcomed, in particular, Kuwait”s dispatch of an ambassador to Baghdad “to facilitate this dialogue.”
Earlier, Foreign Minister Sheikh Dr. Mohammed Sabah AlـSalem AlـSabah said; “We are ready to meet with our Iraqi brothers under the U.N. umbrella, as called upon by the Secretary General to discuss, expedite and facilitate Iraq”s implementation of the international resolutions, which would speed up Iraq”s exit of Chapter VII.”
Sheikh Dr. Mohammed has also affirmed: “We want to help and cooperate with Iraq in this matter and we have agreed to hold several meetings under the U.N. umbrella to help Iraq implement those commitments.”
At the U.N. Headquarters, diplomatic sources say the council might be moving right now to lift the sanctions while expecting Iraq to sign international norms concerning its weapons of mass destruction. ـAgencies