DrDinar Blog

Iraq Chapter 7 Recovery Involves American Commitment

20 years after the 1990 Gulf War and the Iraqi Government is still faced with the clean up in the form of 73 United Nations sanctions.  American coalition forces helped to create these sanctions.  Today’s post Saddam agenda now has America committed to the recovery. 

(Iraq) “Will not regain full sovereignty and independence without getting rid of these resolutions”, says Hoshyar Zebari, Iraq’s Foreign Minister in July of 2009.

The Government of Kuwait continues to siphon a percentage of oil revenue from Iraq with the help of these United Nation sanctions.  Kuwait also owns 60% of the banks in Iraq.  So if you can imagine the correlation of these two variables, everything is working together in the preparation of Iraq’s oil based recovery. 

Understanding a ‘ball park’ time line for the revaluation of the Iraqi Dinar would require a broad look at all the parts of the puzzle that once together form an inevitable platform for the Dinar to springboard from. 

Iraq elections in march of 2010 will be followed by the passing of the hydrocarbon law.  This will increase oil revenue and combined with a forecast of increasing oil prices Iraq will be much better positioned for removal of sanctions and a revaluation. 

Status of Forces Agreement was signed by Iraq Government officials which in essence was a promise of the U.S. Government to help out Iraq chapter 7.  Iraq is not out of the woods yet but the country is in a position where full independence militarily is within reach. 

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Written by Darren Chabluk for http://DrDinar.com
This article may be reproduced online or offline as
long as this box remains and is hyperlinked online.
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Warka ATM Card Works In 210 Counties 

Officials from the Al Warka Bank in Iraq announced in a press conference in Erbil that a pre paid MasterCard tied to the global network is now available.

Banking with Warka in Iraq allows a foreign account holder to earn up to 6% annual interest with an Iraqi bank account without having to go to Iraq.  There is only a $10US minimum to open the account also.

The new MasterCard for offered by Warka is the only one of its kind available anywhere in Iraq.  The card is interfaced directly with the SWIFT banking system for easy International payments from any bank that accepts MasterCard payments. 

Asking your Warka banker to set you up with one of these cards may be a good idea.  Requesting the card to be linked to your Dinar savings account would be even better.  These are simple features that would effectively allow you to withdraw your Dinars from a bank machine anywhere in the world.  You would get the local currency instead of dinars and the exchange rate would include a new banking fee of about 2% minimum plus other fixed ATM fees for international use. 

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Written by Darren Chabluk for http://DrDinar.com
This article may be reproduced online or offline
as long as this box remains and hyperlinked online.
DrDinar helps people with Warka procedures.
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Warka ‘Rule Breaker’ Becomes ‘Rule Maker’

If your like me you know about Warka Bank in Iraq and their front line reputation in opening accounts for foreign companies and private Dinar investors. But what about this rule breaker, rule maker bit you may ask. Allow me to change the subject briefly then tie it all back together for you.

Rule Breaker/Rule Maker explained

Take a look at MicrosoftÒ in the very early 1990’s when AppleÒ owned the patent on what became a billion dollar function in a software application. I’m talking about the ability of a window, in WindowsÒ to be able to over lap other windows.

AppleÒ in a nutshell would allow MicrosoftÒ to create a software application that permitted the user to open multiple windows in one computer screen but AppleÒ owned the patent on the ability of those windows to be able to overlap one another.

What did Bill Gates do? Well we all know he created WindowsÒ and explicitly broke the rules regarding Apple’s intellectual property. MicrosoftÒ grew so fast that they became a rule maker. Dominating the software industry with what became a monopoly in Internet access software.

American ContractorÓ a personal security specialist who blogs right there from Iraq has deadly accuracy when it comes to gathering and broadcasting Iraq investing and Iraq current events intelligence. I’ve chat with him and regularly read his broadcasts for years already. Here is one of American Contractor’s blog post headlines from just over 2 years ago regarding Warka Bank….

***Start Quote***

“December 14 ‘2007 blog post by http://www.AmericanContractor.com
 CEO Al-Warka Bank; Assets and Shares frozen by ISX”
   -Courtesy of American Contractor

***End Quote***

Sounds a bit scary don’t it,…. It does to me too…. but let us jump from fall of 2007 to March of 2009

Warka Becomes A Rule Maker

Foreign investment revenue for Warka in Iraq in January and February 2009 was under 1 million US dollars per month. When Warka online banking opened in March of 2009 the bank experienced exponential growth that no one would have predicted.

Warka bank foreign investment revenue from folks who want to buy dinar like you and I went from under 1 million US per month to over 1 billion US in march 2009. Just from opening a website that accepts online applications and allows warka online banking in the form of viewing account balances and things of that nature.

Well, what the exponential growth in revenue did for Bill Gates happened with Warka too. Imagine being able to pay off all the law suits that had been brewing before the exponential growth in revenue with money left over to - influence law makers, thus becoming a Rule Maker.

There came a point where President Bill Clinton publicly gave Bill Gates a hug when Mr Gates was hit with a custom tailored change in law that would help level the playing field for competition in the software industry. Bill Clinton didn’t put Mr Gates in jail, he just gave him a hug.

Al-Warka, although I don’t know much about him; Al must be a likable guy to have a monopoly on instant bank machines in Iraq way back in the Saddam Hussein era. Owning a piece of land for a house back then was virtually impossible unless you married a women who had ties to the Saddam regime, or a brother in Saddam’s honourable Republican Guard which would be comparable to the Secret Service in the US.

Owning Dinar in a bank account in Iraq at Warka is not nearly as risky as it was a mere 2 years ago. Opportunity access procedures is something you need to be much more concerned about. How to do, what to do, what not to do, regarding a new Warka account.

Dinar Banknotes are not the only way to own dinar and diversification is key to adding strength to any portfolio.

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Written by Darren Chabluk for http://DrDinar.com
This article may be reprinted online or offline as long
As this box remains and the link is hyperlinked online.
DrDinar specializes in Iraq investing procedures
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Iraq Ministry Of Oil Set To Be Leading Oil Producer

If you are like me you like to take the good Dinar news with the bad. Ad Melkert with the United Nations is Iraq’s leading UN official.

“I’d like to tell everybody that seven years is not a lot. You see enormous changes in a country that actually has never seen different centres of power competing in a peaceful way,” Melkert speaks out, in a ‘Reuters’ interview.

Progress does not only exist in curbing the violence in Iraq. The Iraq Ministry of Oil is signing deals pending full force with the new profit sharing Hydrocarbon Law that will put Iraq on top as a world leader in oil production. But, Melkert warns that world expectations are too high for a substantial oil based recovery when in fact the fruits of the labour will take a little longer than some are hoping for.

Delay in the Iraq Parliamentary Elections is a prime example of how a revaluation of the Dinar will take longer than a few weeks or a few months. The elections are now set for March 7 from it’s original end of January date.

“I do not believe a revaluation will be used to harness elections there is simply too much chest beating and slamming doors from Iraq blocs over money as it is. The elections need to be dealt with using massive UN security, not CBI revaluation revenue. It would just add fuel to the fire at this point.” – Darren Chabluk, DrDinar.com

UN will use some 250,000 observers to watch over about 50,000 voting stations in Iraq for the pre-spring elections in 2010. The worst of the insurgency from 2006 to 2007 is over but not yet fully defeated.

Iraq’s Maliki’s shot at the title for a second term as Iraq’s leader is under heavy fire, were talking bombings and such, against his own Government buildings.

US President Obama has been keeping pressure on coalition leaders in Iraq to reduce troops from a current 115,000 to some 50,000 in Iraq by late summer 2010. This movement has prompted Iraqi leadership to come out of the woodwork hell or high water.

Iraq’s new 2010 leadership team will be the Dinar revaluation team leading the country into it’s maximum oil production alongside oil rich Dinar banknotes. As for a definitive time line, one could expect 1 or 2 political terms for next years elected Iraqi Prime Minister which overlaps with a 2009 forecast of 5 years or less prediction for a revaluation.

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This article may be reprinted online or offline as long
As the link remains and is hyperlinked online.
Written by Darren Chabluk for http://DrDinar.com
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