Good day Iraqi Dinar Investors! Adam Montana here, with a fairly lengthy update on the situation in Iraq.
Ready? Here we go…
Iraq needs a government! We’re still watching them go back and forth, mostly because of the huge rift between the political and religious sectors. We have to think of the Political and Religious sectors as similar to the Republican and Democratic parties in the US. The Iraqi political environment isn’t developed enough to have distinct political parties, but people will always fight.
Maliki is a political figure. He has a stranglehold on the Government of Iraq right now, and is obviously not going to let go until he is forced to or has a good reason to. This might be the motivation he needs:
Negotiations between Allawi and Maliki making progress.
The state of the law believe that it could win a concession from the Iraqi List For the constitutional right to the electoral list as the biggest winner through negotiation …
… The reasons for not reaching an agreement with Maliki both By the Iraqi or other blocs is the refusal of the other blocs to renew his mandate…
What this tells us is that although we don’t have a clear answer, Maliki and Allawi are engaged in a process that is moving towards a successful formation of the GOI. We don’t care how it happens, the only thing that is important is that it happens!
Also encouraging on the GOI front:
Sadrist MP: Govt will be announced next week
Karbala – An official from the Sadrist Current told AKnews on Friday that the Iraqi National Alliance (INA), the Kurds and al-Iraqiya will form the government next week.
The remarks by the Jawad al-Hasnawi came as Prime Minister Nouri al-Maliki’s State of Law Coalition (SLC) appears to have been sidelined after al-Iraqiya, led by former PM Ayad Allawi, decided to break off talks with the SLC over Maliki’s designation of al-Iraqiya as a “Sunni” bloc.
Read more: http://dinarvets.com/forums/index.php?/topic/28750-new-govt-next-week/#ixzz0xXNwkVZI
Put the last two articles together and you could think that Allawi and Maliki are close enough to ending their “negotiations” that Allawi is confident they will be moving forward next week. We also know that Obama and Maliki are planning major speeches near the end of the month, which will likely be about the withdrawal of US Troops and Iraq’s commitment to remain stable and build on their own resources to protect their citizens. I don’t necessarily think the GOI will be formed next week, but any progress will be good and I think we will have progress.
The biggest problem we have is until Chapter 7 is lifted, Iraq is prohibited from importing, possessing, or securing the necessities of maintaining a strong army. Until they are strong enough to stand on their own, the occupying forces cannot afford to step too far away because Iran wants nothing more than to take a strong position in Iraq. As we all know, that would be one of the worst possible scenarios – Iran has no good intentions, and they never will. While the Iraqi currency is devalued as it currently is, they are going to play games with Kuwait, who refuses to release their interest in Iraq (and release Iraq from chapter 7) until they are repaid the billions they are owed in reparations. Until Kuwait is willing to cooperate with freeing Iraq from Chapter 7… you see where this is going? Iraq is in a catch-22, as is the US and the rest of the world.
All is not hopeless, though! We do have movement on one of the major pieces of this puzzle… in order for this “Catch-22″ to go away, something like this needs to happen:
Iraq ramping up efforts to repay Kuwait
Tuesday, August 24th 2010 11:29 AM
Erbil, Aug. 24 (AKnews) – Iraq has intensified its efforts to resolve the dossier of its debts to neighboring Kuwait in order to end the international restrictions imposed on the country following the invasion of Kuwait two decades ago, said Iraq’s deputy foreign minister.
If you’ve followed my blog for any time, however, you’ll know that Kuwait doesn’t want Iraq to repay them in solid currency. Kuwait could loosen it’s grip, which would make it easier for Iraq to RV, and then collect payment in full. Iraq doesn’t need to completely back up it’s currency – they will have “credit” with the world. Like the credit card companies you are using, Kuwait doesn’t want Iraq to settle it’s debt. They want to make money on interest! While Iraq is under Chapter 7, Kuwait has a stronger hold on Iraq and is better equipped to manipulate the ledger. This ultimately works in Kuwait’s favor, because they will benefit from an RV just like we investors will. Even more powerful than a rise in the value of the currency is a rise in your position of a powerful and economically sound company. That company, in this case, is Iraq.
Ask yourself this: Would you rather have $1,000,000 now… or $1,000,000 worth of stock in Google back in 2004?
It doesn’t take a rocket surgeon to see the potential, which is what Kuwait sees in Iraq. It’s what I see in Iraq, and it’s probably what you see in Iraq too. The good news is that once Iraq pays Kuwait, Kuwait has very little ammo left.
Here’s more encouraging news:
Iraqi Finance denies (removing zeros) from the national currency
24/08/2010
Denied under the Ministry of Finance and Economy Tuesday, Iraqi الاصفار Deletion of Iraqi currency because it would increase the financial corruption, and will not address the problem of inflation in the country.
We all want to know a timeline for maturity on our investment. I hate to say it, because so many people hang on to “important dates” and “RV rumors”… but we simply don’t know.
The truth is we could get a huge announcement tomorrow! Of course, it could also take a while longer yet. The GREAT news is that Iraq isn’t lopping, they are moving forward with their independence, and every day puts us all closer to seeing the success that we know Iraq will be. Be patient, friends! The time is coming.
Patiently, steadfast, and sincerely,
- Adam Montana
Related posts:
This is very encouraging thanks for the update.
I also read on Ali’s site that Kuwait has signed an agreement and returned it to Iraq making the two countries partners in the southern, shared oil fields. These fields are what initiated Sadaam’s invasion in the first place.
Good news coming from everywhere!!!
Thanks Adam ! We appreciate so much for all you do. This email puts us that much closer to the end ! God Bless and Go RV.
Thanks Adam for this informative piece of information… this is good news to the ears….let us all wait diligently and we will reap our just reward.
Go RV
Thanks for the information I think we are getting close to see something happen.
thanks for the update!!!
Thanks Adam:
your updated info always make increase my “believing level” about Dinar.
But like everybody do you have any idea about the exchange , you know what i mean
regards Adam
Adam – thank you – this helps me keep my sanity – what little I have left and can hardly wait for the day this all comes to pass and fruition. There will be shouting and dancing in the streets. I’m thinking a drink with a parasol in it and sandy beaches for a week or 10 days.
Sage
thanks for the heads up,as i read and watch on the news as to what iraq is up too,no changes yet in that country.still many rumors from over there.could it hit tomorrow or next year.all i do is wait and see what happens and when it does.all i can say is it was worth the wait.keep up the good work
Adam, thanks. Your measured words and exhortations to be patient are rare qualities, and all of us who have been following you are very fortunate to be in the same company with you.
Thank you Adam for the update.
As usual you bring solid information and an insightful persective and view into our exciting speculative investment – The DINAR! Go DINAR – Let’s revalue already! LOL
Cheers & Blessings!
FloridaChick
I meant “perspective” hahaha
Thanks Adam.
Adam, Thanks for the update and for putting it in simpler terms. I have been reading all the latest posting and see there are many more added today. I appreciate your condensing it for us. I, like everyone else, hope and pray the RV will come soon. On the other hand, I hope the people of Iraq will soon have the Government and the funds to complete the basics in living, i.e. electric power on a daily bases, etc.
Thanks Adam, new to the site..what does, Iraq is not lopping mean?
Well, a European-style coalition government may just be the ticket for Iraq to extricate itself from this election quandary and progress forward.
If they can demonstrate to the rest of the world some measure of both political and economic stability, exterminate their terrorist foes from within (no prisoners), and can prevail upon the UN Security Council to finally lift this injurious Chapter VII series of sanctions against the Baghdad government, maybe they’ll have a better shot at revaluation.
Only when these actions have been agreed upon and Kuwait’s bluff is finally called, will the Special Drawing Rights partners of the IMF give the green light and go-ahead for a substantive revaluation of the Iraqi dinar.
Thanks Adam for all your work and the time that you put in for the rest of us.
The candle is lit and the light
is bright.
Go RV.
Adam,
You are right on the news,I agree, would be ( and should happen ) before Ramadan Holiday
9-11-10 it does look like the seats are advancing toward Allawi, again, thanx for the good news.. come on government!!
Iran scares me,Adam. RV,invasion,devalue.
Hey Adam is it true that the reason Kuwait bounced back so quick is because of there back up reserve of money? And does Iraq have this?
this is all great news
soon this ride will be over and
we all can get back to living some what of a normal life .
with out having to get grey hair at the age of 35 reading all of these posts.lol
thank you adam for all your hard wrk bringing the most up to date info you have.
Good reporting Adam! John Williams, economist to many money and gold magazines with excellent credentials reports US facing depression and hyperinflation within next 6-12 months. This could be end to Obama’s Administration unless he pulls out an ace like a dinar RV where the US holdings could be valued between 3-9 $Trillion. Do you have any smarts on Washington’s pressure for an RV in 2010?
Didn’t Kuwait just recieve about a 7 Billion payment from Iraq two or so weeks ago? According to the article I had read..this payment was a major one and that the balance was not too much more?? According to this article. Here’s hoping…Go RV!!!
WHEN & WHAT RATE -Those are the 2 main factors we all want to know asap. Adam keep it coming and let’s all pray they do the RV for all asap.
Thanks Adam. Is there any speculation on what the RV might be?
John
ive been waiting since 04 for this to rv.it cant happen soon enough. ive just about lost everything and i need it
billi need it
Thanks Adam for being a straight shooter with us! We are keeping the faith for the future rv. Take care
Thanks for the updated Adam..
Go RV!
Thanks A Million and GOD bless us all!
Your news is very encouraging. What are you views about purchasing more Dinars?
Blake, I’m actually investing more into the ISX and Warka than cash dinars.
Thank you, Adam, for your time and efforts to keep all of us well informed. I am really eager to see you variety of options for our new investments. I am indeed expecting to read your e-mail as soon as possible!
- Barboza
Thanks for a very concise report. I really like the way you post your info. As on other sites it seems that they want hold back teaser info as if we are not intelligent enough to understand it. Again, Thanks and keep me informed.
My wife and I have both cash and Warka investments as do many family.
One son is in Iraq and he see’s great improvement in Iraq infrastructure over the last three years, even Fox news told about 60% of iraq having some utilities and poverty is double of US they are seeming to move forward. Thanks for your data we appreciate the news.
Interesting comment Adam. What is your reasoning for investing in the ISX and Warka then cash dinars? You seem to be a very intelligent man so I value your opinion.
A TEXAS sized Thanks!
Geoff,
My holdings are a bit sizable. I have enough Dinar to satisfy my Dinar Investment Itch, but I sincerely believe Iraq to be a phenomenal investment of the likes we will never see again and I wish to keep investing as I am able.
The ISX, to me, represents some of the most incredible penny stocks we’ll ever see! We’ve all heard of people getting rich on penny stocks… well, you can buy shares in Iraqi companies for pennies right now! Once the value of the Dinar goes up, the same will happen for those stocks. Once the Dinar is done going up, those stocks are going to keep going up!
That’s my opinion, anyway. Cheers!
Thank you Adam for the update. We are all anxious and appreciate all you have done for us.
Go RVVVVVVVVV
ITS NOT A MATTER OF IF THE DINAR WILL RV BUT WHEN KEEP THE FAITH EVERYONE!!!
Thanks for the diligence. “The Iraqi political environment isn’t developed enough to have distinct political parties.
Ironic as our “two” “parties” are for show as far as the masses go. In effect, they’re like sheep dogs herding us according to Globalist agendas.
So, it’s really up to them as usual. As we’ve (as investors) seen over these few years, this local see-saw has been moot.
But you’re making me want to buy more…wink wink, nudge nudge…
dear adam,
thanks for all of your info. it’s good to know there is someone out there watching our backs. can’t wait for the RV!
gram
Thanks Adam for all this very interesting info.
Once Parliament is seated (hopefully soon) then I think everyting else will just fall into place and the RV will happen. However, the government itself will have to show that IT wants what`s best for its people right off the bat – electricity, clean water etc. and that it`s willing to put `differences` aside to get Iraq and its people on the path to health, educational opportunities, comfort and prosperity. With the right people governing, that is all possible and I`m sure they know full well that the world is watching so Iraq, go for it and don`t disappoint us!!
Adam
I know you probably covered this on the VIP site, but I apologized, I missed it or maybe I need to go through you book to find the answer, but how or where do we go to invest in ISX and Warka?
As always thank you for your insight.
Roy: http://dinarspeculation.com/how-to-open-a-warka-account-to-invest-in-iraqi-dinar/
I purchased My Dinars sometime in 04-05. Back then we thought RV was imminent. Don’t get me wrong, I’m glad I purchased them, their value is still the same as when I bought them, wich is more than I can say about any other investment(HOUSE INCLUDED). Anyway the best thing I did was put them in a safety deposit box and ignored this stuff. If it happens, GREAT, if it doesn’t please don’t pin your hopes and dreams on it. If it were true, this would be the greatest investment of all time. I think the Rothchilds would have alredy cornered the market on this one. For the past several years US citizens have been purchasing Dinars and now own in the hundreds of billions of Iraqi Dinars nationwide. Iraq can’t just say they are now worth $3 ea. Where would they get tens of hundreds of trillions of US dollars when we all try to cash out. It just can’t happen, they dont have the capital to back the money. The only thing I’m waiting for is the money to float. It can then gain value a little at a time as they rebuild. People will cash out at different levels based on their own situation. How many of us would hang on until they hit $3. I do believe we will soon have $1US to $1 dinar, but I’m afraid its going to be the collapse of the dollar, not the rise of the Dinar. JMO, God Bless everyone here.
THANKS ADAM FOR ALL OF THE IMPOTANT INFO THAT YOU PROVIDE US WITH. LET’S KEEP OUR FEET ON THE GROUND, AND OUR HEADS IN THE SKY. GO RV!!!!!!!!
hank you adam for the report .i do things are getting closer but only time will tell.we will hang in there.keep the reports coming
? Allawi in article is this former Prime Minister of the Iraq Interim Govt, or Mohammed Tawfiq Allawi former Minister of Communication, and current Member of the Council of Representatives, or Ali Abdul-Amir Allawi former Minister of Finance, and author of Crisis of Islamic Civilization.
I am in Iraq,for the pass 2 years i never say anything.The time was not right,but now is the time to get your Iraqi money and just sit back and,look at the big picture,its on the way.I been in Iraq for 5,5 years never have i got in to the Dinar like i have in the pass year.When the 18 nov 2010 gets around the Dinar will RV not untell then just aim high.this the last time you will get a e-mail from me.Thanks Juggernaut!
Adam, I can feel a change is coming for the better and all concerned and my feelings never let me down.
Thanks Adam for all your information.
Warm Appreciation,
Raushanah
Hello All,
iT;S NOT WATER, OR PEOPLE SEEING IN THE DARK. THIS IS ALL ABOUT CHAPTER 7. NOTHING MORE NOTHING LESS.
hi adam just wanted to say thanks a million!!! & keep up the good work your are by far the best!!!!
i’am kinda new at all this & have a few ??? where do i cash in at in az??? please help me i’am very lost :/ do i have to drive some place or can i go to my own bank. sorry for the dumb ???’s
Sheri, you need to get my cash in guide at http://dinarnews.net/cashinguide.php
well adam ,,thats cool news ,,all about the comming of a new life styles for lots of people ..and adam brings the latest and the most valued news to the table ,,thanks for being with us and giving us all the updates ,, we wait ,,,till that day,,,
Hi Adam. I just found the article and it is just kind of humor I guess ( please don’t take it seriuosly ). And, I would like to share with all of you folks and Adam here. So, enjoy reading it.
I hope I do not get hammered and thrown under the bus for this one — just my mind stepping out of the box and putting some humor to this mess — the names were assigned just at random so please do not judge me for not putting them where you think they belong — I am no political or economical guru — more of a word guru lol — just having a little fun ok — hope you enjoy –
ALLAWI SOMEBODY — MALIKI ANYBODY –TALIBANI EVERYBODY AND SISTANI NOBODY — were neighbors – But hey — they were not like you and me — They were odd and most difficult to understand — The way they lived was a real shame –
All four of them belonged to the same country – But you could not have enjoyed living or working with them — “EVERYBODY” went on vacation or stayed home to visit with friends –making money off oil wells and living high while the people lived in fear of their lives everyday and starved – ”ANYBODY” wanted to form the government but was afraid that “SOMEBODY” would not be friendly to him — Soooooo -”NOBODY” formed the government –
Really ‘NOBODY” was the only decent one of the bunch — ‘NOBODY” did the meetings and talking and working towards that end — ”NOBODY” could agree on anything — “EVERYBODY” agreed that a government was important — and “EVERYBODY” wanted the power to do it — “EVERYBODY” thought that “ANYBODY” could do it — “EVERYBODY” knew that “SOMEBODY” would do it — But guess who did it —— that’s right —- “NOBODY” –
And that folks is the whole “TRUTH” and nothing but the “TRUTH” — from the “TRUTH”
Re.Warka Inv. bank……………I…..authorize Al Warka Bank..next paragraph..you can not tranferany iraqi money out of Iraq because it is not allowed by the regulation of Iraqi Central Bank …..what does this mean..Thanks for all the info ..go rv…..Pride
Adam,
I’m new to all of this(a Week), but how long does it usually take warka to open the account and get everything set up once the info has been sent? I want in on the ISX ASAP!
again thanks for all your info! I’ve managed to stay up reading and catching up on a lot of it!
Dan, it can take a couple weeks! But get it started, the sooner you do the sooner it’s finished!
Hi Adam. I just got the news and I would like to share with all folks here to get an opinion and any comments whether it is a good or bad news.
The New York Times 2010-08-29
BAGHDAD — The departing commander of American forces in Iraq, Gen. Ray Odierno, said Sunday that a new Iraqi government could still be two months away and warned that a stalemate beyond that could create demands for a new election to break the deadlock, which has lasted since March. While General Odierno said he believed negotiations had picked up and would prove successful, he predicted politicians still needed “four to six to eight weeks.” “That’s a guess,” he said in an interview at his headquarters, whose plaster roof is still engraved with the initials of Saddam Hussein. “If it goes beyond 1 October, what does that mean? Could there be a call for another election? I worry about that a little bit.” The prospect of another election would probably throw Iraq’s already turbulent politics into even greater turmoil as the United States begins withdrawing its last 50,000 troops, scheduled to be out by the end of 2011. While the election in March was viewed as successful, the periods before and after included bitter disputes over disqualifications, recounts, legal challenges and score-settling that exacerbated still smoldering sectarian tensions. Even the suggestion of a new election underscored the ambiguity in an anxious and unsettled Iraq these days. President Obama plans a speech from the Oval Office on Tuesday to address what the administration describes as the end of combat operations here. But the date has largely gone unnoticed by Iraqis, whose frustration with the political deadlock has mirrored their deepening anger over a dysfunctional government and the shoddy delivery of the basic necessities of life. “The longer that takes, the more frustrated they might get with the process itself,” General Odierno said. “What I don’t want is for them to lose faith in the system, the democratic system, and that’s the long-term risk, do they lose faith in the process.” American officials had hoped to have a new government in place long before the Tuesday deadline, set by the Obama administration, to bring troop levels down to 50,000. But an effort to form a coalition between the two winning blocs — one led by Prime Minister Nuri Kamal al-Maliki, the other by Ayad Allawi, a former interim prime minister — has proceeded only haltingly. Powerful groups within Iraq, and some of the country’s neighbors, remain deeply opposed to either man leading the country. Even some Iraqi officials acknowledge there is little urgency in the talks, particularly during the Muslim holy month of Ramadan, which began this month. The prospect of an election, however remote, comes amid worries that insurgents might stage high-profile attacks to create havoc, that Iran has stepped up support for militant groups and that Iraqi military leaders might be tempted to take matters into their own hands. “If we get the government formed, I think we’re O.K.,” General Odierno said. “If we don’t, I don’t know.” General Odierno will leave the country Wednesday, after formally turning over command to Lt. Gen. Lloyd J. Austin III. For General Odierno, the ceremony will mark the end of more than four years in Iraq, where he has gone from a commander criticized for heavy-handed operations in regions that became insurgent strongholds to a figure praised, in military circles and beyond, for overseeing the American military buildup here in 2007. But part of his legacy may rest on the performance of Iraq’s security forces in taking sole control of the country. American officials have conceded they were dealt a blow last week by a wave of car bombings, roadside mines and hit-and-run attacks that insurgents unleashed in at least 13 towns and cities across Iraq. The attacks were “not unexpected,” General Odierno said. “What I would tell you surprised me a little bit was that they were able to do it over the country with some coordination.” In his four years here, General Odierno was often at the center of shifting American military strategy in Iraq. He said the military learned lessons “the hard way.” “We all came in very naïve about Iraq,” he said. “We came in naïve about what the problems were in Iraq; I don’t think we understood what I call the societal devastation that occurred,” he said, citing the Iran-Iraq war, the Persian Gulf war and the international sanctions from 1990 to 2003 that wiped out the middle class. “And then we attacked to overthrow the government,” he said. The same went for the country’s ethnic and sectarian divisions, he said: “We just didn’t understand it.” To advocates of the counterinsurgency strategy that General Odierno has, in part, come to symbolize, the learning curve might highlight the military’s adaptiveness. Critics of a conflict that killed an estimated 100,000 Iraqis, perhaps far more, and more than 4,400 American soldiers might see the acknowledgment as evidence of the war’s folly. Asked if the United States had made the country’s divisions worse, General Odierno said, “I don’t know.” “There’s all these issues that we didn’t understand and that we had to work our way through,” he said. “And did maybe that cause it to get worse? Maybe.”
Hi Adam. I almost forgot to ask you, regarding the news that I already posted, that what happens to IQD then?Does it have any effect on revaluation IQD? I hope some folks and Adam here can answer them. Thank’s Adam.
If President Obama is pulling troops out right now then how come when he pulls some out they still send more over there? Makes no sense to me if he’s pulling troops out then stop sending more he’s never going to make head way! I hope the dinar RV’S soon i’m tierd of the roll coster ride they need to hurry up and form a government and move on to brighter things in there future! Thanks adam for all your hard work and deducation keep it coming!!!
I must agree with Darren’s post on Aug. 25th. The dinar will just not go up in value overnight. Both countries would not be able to support such an increase. Increased value over time, makes more sense.
See attached AOL link, article says decline in IRAQ Dinar inevitable.http://www.aolnews.com/world/article/the-price-of-the-iraqi-dinar-and-the-real-reason-us-combat-troops-can-withdraw-from-the-iraq-war/19611389
whats the hold up on some more news?
Official: Zeros in Iraqi Currency Will Not Be Removed
Erbil, 25 August 2010 ( AK News )
Iraq will not remove the zeros from its currency because it will not resolve inflation and will create opportunities for corruption, said a senior source in Iraq’s ministry of finance and economics.
Iraq’s currency known as Dinar was largely devalued after Iraq’s invasion of Kuwait in 1991 and the imposition of international sanctions on the country.
The Iraqi government added three zeros to the bank notes in 1990s.
While before 1991, one Iraqi Dinar was equal to around $3, now $1 is worth 1170 Dinars, according to Iraqi Central Bank’s exchange rates.
Some experts have suggested that removing the zeros will enhance the country’s currency and allow it to better tackle inflation.
“The Central Bank wanted to remove the zeros three years ago, we alleged that it was impossible. They wanted to do it again last year and we rejected the proposal again. The issue is currently brought up once again, but the Ministry of Finance and Economics insists that Zeros will remain,” said Fazil Nabi, the deputy minister of finance and economics.
Nabi said removing the zeros will not reduce the inflation rates as Iraq’s inflation has been stable and remained low for quite some time.
“Besides, it will create problems for many citizens because it takes time for them to learn to use the new currency,” he said.
Nabi also stated that certain people will be harmed by removing the zeros because their salaries will decrease while it is unlikely for the price of goods in the markets to decrease.
Iraq Allows Iran Gas Pipeline to Syria
14 August 2010 ( Al SumariaTV )
Baghdad approved a measure to develop a pipeline to deliver natural gas from Iran across its country to Syria. Iraq’s government says Oil Minister Hussein al-Shahristani approved the project in principle at a meeting Wednesday with a visiting Iranian delegation in Baghdad.
The Iraqi oil ministry says both sides will form a committee to study the route the Iranian gas pipeline without setting a date to start works, “both sides agreed to establish a committee to study the technical feasibility of the project.”
Iran is building a pipeline to Turkey along the Iraq border as part of a recent contract, which could be extended to include a branch through Iraq and on to Syria.
German Firm Strikes Deal with Iraqi Kurds to Transport Iraqi Gas to Europe
30 August 2010 ( Azzaman )
By Turkan Ismael
A German firm has struck a cooperation deal with the Kurdish regional government in northern Iraq for the transport of Iraqi natural gas to Europe.
The German investment firm, RWA, says it will construct a pipeline linking Iraqi gas fields to Nabucco pipeline conceived to cut Europe’s reliance on Russian gas.
An RWA statement, quoting Ashti Horami, Kurdish regional government’s minister of natural resources, said that the Kurdish region could pump up 20 billion cubic meters of natural gas to Europe.
RWA, says the statement, will build the pipeline linking northern Iraq with Turkey.
There are no plans to extend the pipeline to Iran which has one of the world’s largest reserves of natural gas.
Iran already transports huge quantities of natural gas to Turkey via a special pipeline.
The proceeds from the gas exports will be funneled to central government coffers, Horami was reported as saying.
Iraqi Kurds have increased oil and gas development activities in their semi-independent enclave comprising the provinces of Dahouk, Sulaimaniya and Arbil.
They say they can now produce more than 100,000 barrels of oil a day and have drawn plans to boost output to 1 million barrels in four years.
Iraq has a twin pipeline linking its largest producing oil fields to Turkish terminals on the Mediterranean
Does anyone know what the kawaiti dinar revalued at when they did it after the first gulf war? Was it an instant high or did it take two decades to get it at the 3.47 it is now? Just a curious question.
Mainly I ask this cause it could give us an indication of what the iraqi dinar will do. Don’t you think?
http://video.search.yahoo.com/video/play?p=investing%20in%20iraq%20dinars&tnr=21&vid=232505214513&l=175&turl=http%3A%2F%2Fts2.mm.bing.net%2Fvideos%2Fthumbnail.aspx%3Fq%3D232505214513%26id%3Dd0f2cbb2c5f7c067ae8af8687bd51c8b%26bid%3D09to25htQRwkjQ%26bn%3DThumb%26url%3Dhttp%253a%252f%252fwww.youtube.com%252fwatch%253fv%253dqJX7ztaJ7iY&rurl=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DqJX7ztaJ7iY&sigr=11acidb4l&newfp=1&tit=The+Future+of+the+New+Iraqi+Dinar
Heard it will be in December
I just got word that the United States government has five trillion Iraqi dinar. They are going to do what they did to Kuwait. After we get out of their country and their economy gets going the government, OUR government, will turn in their dinar and finance the war. So don’t look for any RV til we have been out for about 18 months. How about our nerve! Go in and start a war in a foreign country and then make them pay for it! Works for me if I can profit too!!!!
please listen
you people need to seriously cash in your iraqi dinars and get out why you can. a lot of people have bought billions of dollars of this worthless currency do you really think the powers that be are going to let you all become millionaires over night or make hundreds of thousands of dollars. CIVIL WAR WILL SOON COME TO IRAQ NOW that troops are pulling out just wait and see. call your congressman and demand that banks in the us exchange the iraqi dinar for us currency
Mr. Montana,
Is there any current information? The dinar vet site certainly has its entertainment value and what appears to be a few articles of value. However, the bickering that has been taking place of late is disturbing. Especially to those of us who look to knowledgeable people for insite.
Thanks to those who really care.
Geoff,
It will NOT give us an indication of what the dinar will do. These are two different circumstances especially when you take into consideration that before the war the only person put any value on the dinarwas Sadaam and no one else. This was a super inflated value by him alone. The pumpers of the dinar like to use what went on in Kuwait and use this as a selling point but there is NO camparison. Kuwait’s currency was already a recognizable currency. The Dinar currently IS and WAS not.
Hey Sexy@40…. I heard that too!!!!…..December of 04…December of 05…December of 06….December of 07… December of 08….and December of 09.
Hey John Houston,
I have a comment. Why do you even look at a sight that is about Dinar Speculation? If I’m NOT going to buy a house I don’t go on Realtor websites looking for a homes and warning people not to buy. I just won’t buy…….Don’t worry about us.
Dont loose hope people. There are signs that something positive is going to happen soon.
Warka bank has stopped the transfer of funds option on their internet banking site. I used to be able to transfer funds online from my IQD account to my US account. Why?I suspect they have done this to have more control of IQD funds. The CBI has apparently instructed Iraqi banks to conserve cash. Why?
Warka bank issued a statement awhile ago that they were essentially instructed by Iraqi customs not to accept anymore courier bags of Dinar coming from overseas. Why? Is it to stop the flood of Dinar coming back in. Iraqi customs are likely to confiscate the money if intercepted, we were warned by Warka bank that the Iraqi customs would seize all dinar intercepted. The outcome of this is that Iraq makes a net gain as the CBI sold the Dinar for cash and then get it given back to the CBI from customs for destruction and therefore reduce the amount of Dinar in circulation. Very Good earner for the CBI.
Some months ago Iraqi customs took on extra staff. Could this be to help intercept the potentially large amount of Dinar coming to Iraq for banking and exchange in the future.
It is going to be very hard for people outside Iraq to get notes into the country. We cashed all ours some time ago as we recognised a very real potential threat and opened an Iraqi bank account instead. We dont live in the States so our prospects were very limited. We cashed all our Dinar back with the trader we brought them off and wired the money to Warka. The better exchange rate at 1170 for 1 US dollar coupled with a really good interest rate of 9.5 % has more than made up for the loss on cashing them in with the trader in LA. My personal advice is for others to do the same and spread your risk especially if there is going to be any potential problems in cashing in.
The last time Iraq changed there notes it was confined to Iraq. There are signs with Iraqi customs that they may do the same again. My take on it is that Iraq will look after itself and will try and reduce the amount of Dinar in circulation by making it harder to cash in during bthe change over period and intercepting what comes into the country.
There is also the meeting in October with the IMF and the CBI which looks promising.
Iraq is a volatile country but they still have to press ahead. There may well be civil war when the US pulls out altogether which wont be until late next year, in the meanwhile I expect the Dinar to start to strengthen this year. I agree with one of the other commentators that the Dinar will not rocket instantaneously but will start to steadily increase once the first domino has fallen.