- Billy Giles Interview – CD – Shown Actual Size
Former Secretary of State of the USA Dr Condoleezza Rice had visit Iraq in May of 2005. During this visit the World Bank, Dr Rice, and the IMF met to discuss what the Dinar could be backed at during a revaluation. Here were their respective endorsements and in US dollar/cents:
Opening Rates Debate – Iraq May 2005
.20 Cents – The World Bank
.40 Cents – IMF
.82 Cents – USA (Condoleezza Rice)
Now, assuming a revaluation of a mere 1 cent would give everyone right now a 10X return on investment I’m going to use 1 penny as the minimum opening rate as this is what Billy Giles and I have agreed as would be an absolute minimum.
Now there are three phases in my mind for a revaluation. These 3 phases have objectives tied to them as follows:
Revaluation Phases
Phase 1 – Before Reval – Objective: Maximize Dinar value and oil production before the revaluation.
Phase 2 – The Revaluation – Choose an opening rate/date that will be funded 100% and will grow
Phase 3 – Immediately After The Revaluation – Kuwait’s Dinar reval rate almost doubled immediately
Now, with that being said. It should be no surprise that all supporting Governments in countries around the world would have a stash of Dinar. The USA Government believes in the success of Iraq and has Dinar as proven in the Billy Giles Interview in the DrDinar Home Study Course and also in the DrDinar Report Version 3.
The media does not always hear of news first. Especially if there is a non-disclosure involved and something ‘slips out’ during an interview.
When Condoleezza Rice endorsed a rate of .82 cents we must assume that the USA Dinar stash including a profit forecast of George Bush Jr’s notorious shipment was equated into such rate. Therefore allowing .82 Cents to the Dinar to not be a total farce.
Revaluation Exchange House Fees
Now despite what the opening rate will be, the local banks that will exchange Iraq Dinar for you during and after the revaluation will charge a nominal fee anywhere from 3% to 6% just as they do with any other world currency conversion. They need to make money so that’s why they do it.
Who gets the lower 3% rate? Let me tell you, high volume exchanges, and GROUPS. At DrDinar we will be negotiating group revaluation rates for possibly all our site members including basic free members.
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Written by Darren Chabluk, sign up for the
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Al-Maliki promises no delay in US troop withdrawal
BAGHDAD (AP) – Iraq’s prime minister is vowing there will be no delay in the withdrawal of U.S. troops despite an Iraqi political dispute that is expected to force a January vote to be postponed.
But in an interview with The Associated Press, Nouri al-Maliki warned that the dispute threatens national security. And he harshly criticized the Sunni Arab vice president who vetoed a key election law.
The United States has factored Iraq’s election plan into the pace of its troop withdrawal, including the end of the military’s combat mission by the end of August. Still, the U.S. military has said the schedule is on track for now, and al-Maliki said the 2011 date for a full pullout was “sacred and final.”
Most American forces have already deployed to outlying bases from urban areas.
(Copyright Associated Press, All Rights Reserved)
http://www.9news.com/rss/article.aspx?storyid=127782
Reuters – [11/28/2009]
Iraq drilling firm to drill 180 wells in 2010
Fri Nov 27, 2009 5:09am ESTBy Aref Mohammed
BASRA, Iraq (Reuters) – The state-run Iraq Drilling Company plans to drill 180 oil wells in 2010, and will be able to drill more than 250 new wells every year from 2011 onwards, the head of the company said.
Thirty of the new wells planned for 2010 will be in northern oilfields and 150 in the south, adding roughly 360,000 barrels of oil per day to Iraq’s output capacity, Iraqi Drilling Company director Idrees al-Yassiri told Reuters in an interview. The number of new wells next year will exceed the total number drilled in the 6-1/2 years since the U.S. invasion, he said on Thursday.
“The approximate production that each well will add is 2,000 barrels per day, that is, they will together add 360,000 barrels per day and this will means additional revenue of billions of dollars for Iraq,” Yassiri said.
“In 2011 the production capacity of the Iraq Drilling Company will exceed 250 wells annually.” He added the company would have 40 drilling towers compared to the 18 it had when Saddam Hussein was in charge. Half of the towers had already been put to work and the rest would follow in 2010.
Iraq currently produces around 2.5 million bpd, and has struggled to ramp up production because its oil infrastructure has been left in a state of decay after decades of war, sanctions and underinvestment.
BIG CHANGE AHEAD
That may soon change. The country is in the process of signing multibillion-dollar deals with global oil majors that will nearly triple crude output to 7 million bpd and transform it into the third-largest crude producer in the world.
The first agreement finalized is for BP and China’s CNPC to develop Rumaila, Iraq’s largest oilfield. It was the only contract successfully bid on at Iraq’s first tender of oilfield deals in June.
Subsequent negotiations have led to initial agreements for an Eni-led group to develop Zubair and an Exxon Mobil-led group to take on West Qurna Phase One.
A second auction of oilfield contracts for 10 largely undeveloped fields will take place December 11-12. The drilling program spoken of by Yassiri appeared to be separate to those deals. He did not elaborate.
Oil Minister Hussain al-Shahristani has said Iraq will not sit by idly, leaving all the work to foreign firms, but would push on with its own plans to boost output.
Yassiri said the Iraq Drilling Company had drilled 22 new wells in an oilfield bordering Kuwait, aimed at preventing “leakage” across the border. It had also drilled one new well on the Iranian border and rehabilitated another. Iraq is in talks with both Kuwait and Iran over shared oilfields.
(Writing by Deepa Babington and Michael Christie; Editing by James Jukwey)
© Thomson Reuters 2009. All rights reserved.
http://www.iraqdirectory.com/DisplayNews.aspx?id=10998
Iraq seeks full WTO membership during conf. Monday
29/11/2009 – 16:14
BAGHDAD / Aswat al-Iraq: Iraq will attend the World Trade Organization (WTO) ministerial conference to be held in Geneva on Monday within third-round negotiations to be granted full membership in the world body, according to an Iraqi Trade Ministry media source on Sunday.
“A delegation from the higher national committee led by Acting Trade Minister Safaa al-Din al-Safi will be attending the three-day WTO ministerial conference. The delegation will discuss ways to have Iraq obtain full-fledged membership instead of its current observer status,” Faraj al-Jaafari told Aswat al-Iraq news agency.
Iraq had held two rounds of talks with the WTO secretariat in Geneva during the ministerial conference, the seventh one which comes four years after the last meeting held in Hong Kong in 2005.
Taking part in the gathering will be ministers of trade from 153 member states in addition to ministers from countries that have observer status and seek full membership in addition to representatives of relevant international organizations like the World Bank, the International Monetary Fund (IMF), the United Nations Conference on Trade and Development (UNCTAD), the Food and Agriculture Organization (FAO), the Islamic Development Bank (IDB) in Jeddah, Saudi Arabia, the Arab Monetary Fund (AMF) in Abu Dhabi, the United Arab Emirates (UAE) and other government and non-government agencies.
Established in 1995, the WTO has stemmed from the General Agreement on Tariffs and Trade (GATT) that was set up in the aftermath of World War II.
GATT was signed by 23 nations at a trade conference in 1947 and became effective in 1948. The 1994 GATT pact also provided for establishment of the WTO, which took over GATT’s functions.
http://en.aswataliraq.info/wp-content/themes/s1/print.php?p=122744
Strategic partnership agreement to be signed with the EU next month
Translated by IRAQdirectory.com – [11/28/2009]
Iraq and European Union Signe next month strategic partnership agreement involving more than 12 industries, as a step that will contribute significantly to development of relations and cooperation between the two sides.
Sources close to the government said , indicating that the draft Convention will be signed by, the Iraqi Foreign Minister, Hoshyar Zebari, or his agent, Dr. Mohammed al-Haj Hammoud, and on the European side represented by Deputy Director General for Foreign Affairs of the European Commission Hicz Mancarelli.
The sources confirmed the completion of the draft Convention between the two sides, indicating that (draft Convention) currently under discussion by the Council of Ministers and European experts and consultants, to study it thoroughly before signing it initialed by both parties.
The bilateral negotiations between Iraq and the European Union was concluded in Brussels last week, after nine rounds of talks lasted more than two and a half years. According to sources, the draft Convention covers areas of “economic and trade, scientific and cultural rights, in addition to the energy represented by the oil and electricity, as well as sectors of human rights and combating terrorism and organized crime, money laundering, illegal immigration and the effects of theft and trafficking.”
Observers believe that the partnership agreement is a new road map for building relationships with the European Union to correct and repair the path of cooperation between the two sides, after being hit by these relations to the fluctuations during the dictatorial regime due to his reckless, noting at the same time that the agreement would send messages of comfort and confirmation that Iraq is ready to cooperate with everyone and not at the expense party without the other, in reference to the United States and Britain.
The sources pointed out that this agreement will also contribute, according to the Provisions of the terms and commitments in Europe in the development of ways of joint cooperation in the areas of trade and investment so as to ensure the integration of Iraq into the global economy provides opportunities for his recovery and progress, to advance its economy and the gradual transition to market economy.
Head of the Committee on Economics, investment and reconstruction in the House of Representatives, Dr. Haider Abadi value the agreement with the European Union, saying in a statement to “Al Sabah” that the Union currently represents one of the main capital of the world economy, which Iraq could move towards economic and wider investment out of the local domain to world.
Abbas al-Bayati, a member of the Security and Defense Committee in parliament, supported the signing of such agreements. Adding to “Al Sabah”: that partnership agreement with the European Union will help the country to pursue and arrest the wanted by Iraqi judiciary for their involvement in terrorist operations and corruption cases directly or indirectly, asserting the existence of a significant number of those who recruit suicide bombers to be sent to Iraq through the regional countries to kill innocent people, in some countries in Europe.
The Iraqi President Jalal Talabani has expressed for the new president of the European Union, Herman Van Rompuy in a letter sent to him recently, about the ambition that partnership agreement is signed between Iraq and the European Union as soon as possible.
http://www.iraqdirectory.com/DisplayNews.aspx?id=11000
Well, I see that the Iraqs’ put out 200 billion in new oil contracts, but haven’t seen any comments since Darren opened his new site. . .what’s up people. . .is everyone just sitting around holding their breath or what. . .Merry Christmas and a Happy new Year to all of you. . .without being politically incorrect. . .God Bless you all this Holiday season. . .Reggie
Does anyone think that this reval will be another 2 or 3 years in the making. I am a long term holder of the Dinar and I am skeptical this will occurr anytime soon. Your thoughts:
Friday, January 29, 2010
War News for Friday, January 29, 2010
Contrary to how President George W. Bush has tried to justify the Iraq war in the past, he has now . . . admitted that the invasion and occupation of Iraq was aimed primarily at seizing predominant influence over its oil by establishing permanent . . . military bases. He made this transparently clear by adding a signing statement to the defense appropriation bill, indicating that he would not be bound by the law’s prohibition against expending funds: “(1) To establish any military installation or base for the purpose of providing for the permanent stationing of United States Armed Forces in Iraq,” or “(2) To exercise United States control of the oil resources of Iraq.” — Ray McGovern
http://warnewstoday.blogspot.com/2010/01/war-news-for-friday-january-29-2010.html
THIS IS JUST MY OPINION ,but THAT BANK IN IRAQI WILL Let You Invest Our Dinars And Give us 6% The 6% is not worth nothing much yet until the re evaluation? AM I RIGHT cause our money now is no comparison to 6 % of Iraqi Money The way I see It Now?
UN pays out $674.2 million from Iraqi oil fun
GENEVA
The U.N. panel overseeing compensation for victims of Iraq’s 1990 Kuwait invasion said Thursday it has paid $674.2 million from Iraqi oil funds to cover losses from the war.
The U.N. Compensation Commission said the money would go to five private corporations and five government or international bodies. It did not disclose the identities of the claimants.
The commission, made up of the 15 U.N. Security Council member countries, has so far paid out nearly $29 billion. Another $23.5 billion is earmarked to go to nine more unidentified claimants.
Money to pay the claims comes from Iraqi oil sales.
Until the U.S.-led invasion of Iraq that toppled Saddam Hussein in 2003, the commission received 25 percent of the proceeds from the U.N. oil-for-food program, which allowed the former Iraqi regime to sell oil and buy food, medicine and other humanitarian goods despite international sanctions.
Since the invasion, the amount the commission receives from Iraqi oil exports has been reduced to 5 percent.
In 2008, the commission asked member nations to help it recover more than $80 million in overpayments made to several thousand claimants.
http://www.businessweek.com/ap/financialnews/D9DGLRH00.htm
FM calls on UNSC’s 5 permanents to exclude Iraq from Ch.7
January 28, 2010 – 05:29:33
BAGHDAD / Aswat al-Iraq: Iraqi Foreign Minister Hoshyar Zebari on Thursday called for bringing Iraq out of Chapter VII of the United Nations Charter.
This came in a meeting between Zebari and the ambassadors of the five permanent members in the UNSC: the United States, Britain, France, Russia, and China.
“The meeting discussed means and steps taken by Iraq’s government in this regard,” the Iraqi Foreign Ministry said in a release received by Aswat al-Iraq news agency.
It said that Zebari handed messages to the ambassadors explaining progress made by Iraq in this concern.
MH (P)/AmR
http://en.aswataliraq.info/?p=126066
Oil ministry signs contract over Qarna oilfield
January 30, 2010 – 12:48:43
BAGHDAD / Aswat al-Iraq: The Iraqi oil ministry will wrap up on Sunday a series of oil contracts announced earlier by signing a final contract over West al-Qarna-2 oilfield as part of the two rounds of tenders with Russia’s Lukoil and Norway’s Statoil, a ministry spokesman said on Saturday.
“The two companies pledged to up production to a peak of 1.800 million barrels per day at a rate of 1.15 dollars per barrel of additional produced barrel. The contract would offer a chance for Russian companies to have presence in Iraq after 2003 in one of the most important southern oilfields,” Assem Jihad told Aswat al-Iraq news agency.
Qarna-2 has a huge reserve estimated to reach 13 billion barrels. The field lies in southern Iraq, west of the Majnoon oilfield, whose reserves are equal to Qarna-2.
The ministry had signed last week a final contract to develop the first stage of West Qarna oilfield with a conglomeration of Exxon Mobil and Shell companies, hopefully to up production by more than two million barrels and offer 100,000 jobs, as stated by Iraqi Minister of Oil Hussein al-Shahrestani.
AmR (P)
http://en.aswataliraq.info/?p=126141
US urges peaceful resolutions in Kurdistan
Wednesday, January 27, 2010 10:23 GMT
During a meeting with Kurdistan leader Massoud Barazani in Washington, U.S. Secretary of State Hillary Clinton called on Kurdish authorities to work toward a peaceful resolution of some of the disputed boundaries, particularly around Kirkuk and settle disputes over oil revenues.
While stressing U.S. support for Kurdish security, she said, “We do expect that the Kurdish leadership will take an important role in trying to stabilize Iraq, trying to work with the Sunni and Shia leadership for the betterment of the entire country”.
http://www.alsumaria.tv/en/Iraq-News/1-43848-.html
Kurds propose to Baghdad solution to oil contracts
February 1, 2010 – 11:16:45
ARBIL
/ Aswat al-Iraq: The Kurdistan regional cabinet has submitted an
official proposal to the Iraqi government in Baghdad to solve the issue
of oil contracts. “The suggestion included different approaches for a solution,”
Barham Saleh, the Kurdistan regional prime minister, told the press on
Monday. He said that Iraqi Prime Minister Nouri al-Maliki is currently examining
the proposed solutions.
MH (P) / SS
http://en.aswataliraq.info/?p=126235