Seems to be an ongoing trend where the Iraq Government is working oil export into the deals with countries they owe money to from the former Saddam Government.
See the article here:
http://www.google.com/hostednews/afp/article/ALeqM5jtPYdjfbN0UVUnW8IwkAHTCRcOzg
Currently, I’m in the process of building another Iraq News blog, it will be different than this blog and will specialize in covering news not directly related to Iraq Dinar.
Darren Chabluk
I was just getting ready to research and write a short article I already started with and then saw the blog posts from last week. Like 39 and counting. Wow. I’ve been on the road and have hardly had time to eat sleep and drive. Been listening to the CNN and Fox news satellite radio just to stay in the loop but I need to read these blog posts! And respond to some.
We’ll get you all a nice meat and potato article for next tuesday.
A few people have been asking if I still sell Dinars. I will be putting together sets of 7 Dinar denominations but probably not till summer as the support site needs immediate ongoing attention right now.
2010 will be great. Lots happening. Elections in Iraq, followed by the Hydrocarbon Law passing. And in summer, there is suppose to be a large US troop withdrawel so, we will see what good gets squeezed out of this.
I plan on having a call this week, maybe on new years eve, not sure….,
Darren Chabluk
Russia’s Lukoil failed to negotiate a bypass of the auction process to lock in Saddam era perks although Lukoil did win the bid this last Saturday for the West Qurna Phase 2 field. Iraq’s West Qurna Phase 2 is like the T-bone of oil fields as far as winning bids are concerned.
Iraq’s Oil Ministry is now finished it’s second round of bids.
American based Exxon Mobil won a major bid and is now lock and load on Iraq West Qurna Phase 1 oil field. Anyone on the ‘America ain’t getting deals’ bandwagon may now officially admin they were jumping the gun.
A quarter stake in the Zubair oil field will have to do for American based Occidental, who also won a bid.
Chinese oil companies are aggressively seeking some firepower in Iraq oil deals too. There is only one thing more dangerous than owning a gun in China, loosing it.
Violence has been stronger with the coming 2010 Iraq elections and could be a deterrent for some companies. The Iraq Hydrocarbon Law once in place will help ‘Iron out the details’ that are keeping some companies at bay.
It is time to stake your claim in the Iraq investment arena if you have not already done so. The Iraqi Dinar will be going up again, how much? Who knows, but it will experience another upward spike before the Dinar revaluation. Elections in Iraq are being met with violent opposition, this happened with the last elections too.
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This article may be reprinted online and offline as
long as this box remains and is hyperlinked online.
Written by Darren Chabluk for http://DrDinar.com
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99 Dinar investors participated on a recent survey to produce the following results when asked:
“Despite what you currently have, are you prepared to purchase more…” (check all that apply)
Dinar Banknotes – 67.0% of investors (ORANGE) are prepared to purchase more of the notorious Iraq Dinar banknotes which is by far the most popular form of Iraq investment with a two third majority overall.
Dinar in Iraqi Bank Account – 38.5% of investors (DARK BLUE) are prepared to take steps towards opening a Warka account. The procedures by which are available in print, CD, and step by step email coaching with the DrDinar support site.
American Based ‘Iraq Play’ investment – 34.1% of investors (PINK) want to put money into an American based Iraq investment. The advantage of such is that you invest locally at your own bank in things such as Iraq based funds that are traded on the New York Stock Exchange. Simple, easy, and access procedures are very safe.
Iraq Stock Accounts – 24.2% (PURPLE) want to put funds into the Iraq Stock Exchange via a Warka account. There are many ground floor opportunities with the ISX. Procedures are outlined in DrDinar’s Home Study Course and Report version 3.
The remaining portion of the pie chart include such things as Iraq Real Estate at 8.8%, Import/Export with Iraq at 12.1%, Iraq based business with 7.7% and Other Iraq based investments not listed at 16.5%
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This article may be reprinted online or offline as long as
This box remains unchanged and hyperlinked online.
Written by Darren Chabluk for the #1 Iraq Investment
Support Site http://DrDinar.com
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Group Fee For Dinar Reval Exchange
If you are like me you wonder about the day that you will cash in your Iraq Dinar currency after the Dinar revaluation.
As a Canadian who travels to the USA several times a month with my commercial truck I find myself exchanging Canadian dollars for US dollars often. I will now use the Canadian/US currency exchange as an example of the idea members of our support site and I are working on.
Last time I bought US dollars for my trip from Canada I got the rate of about $100US for $107 Canadian dollars, even when the official exchange rate at the time told me I would pay $102 Canadian for $100US.
Let us take a closer look at what just happened shall we…
The exchange rate for US/Canada exchange told me that I would pay $102 Canadian for one picture of Ben Franklin on my $100US banknote. But the Canadian bank doing the currency exchange for me actually charged me $107 Canadian, not $102. Why? This is called a gap. And this gap is the private exchange banks profit.
Now, when exchanging one currency for another, the bank fee rate you get (not talking about exchange rate) this fee depends on your dinar currency exchange volume. Those with a higher volume can negotiate a lower fee on the currency exchange.
As a group, somehow, someway, I think we can get some kind of deal from the bank for members of our Iraq investing support site. I will be posting more findings on this as time goes on in the DrDinar forum section of the site.
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This article is written by Darren Chabluk
For http://DrDinar.com This article may
Be reprinted as long as this link remains
And is hyperlinked when used online.
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Lots of people have become interested in the Iraqi Dinar because of its possible investment opportunities. While Iraq is still a dangerous place and in the midst of a war, when it does become peaceful again, the national currency of Iraq known as the dinar will become extremely valuable to those holding lots of this currency.
Currently the Iraqi Dinar exchange rate is somewhere around 1,150 dinar per every US dollar and while that means the Iraqi currency isn’t worth all that much, wait till you hear how much it used to be worth. Staring in the early 1970’s the dinar had a value of $3.38 US dollars for every dinar, but after the Iraq invasion of Kuwait and the first Gulf War in 1989 the dinar started to become devalued. Due to an economic blockade of the country and the governments overprinting of their currency, the dinar was valued at around 3,000 per $1 US dollar in 1995. That’s quite a turn around in only 6 years.
As an investor you should obviously be able to see what could happen if peace once again returns to Iraq. During times of turmoil the dinar has been hugely devalued, but during times of peace, the dinar is even more valuable than the US dollar. What that means for the investor is a big opportunity to get in on what may become one of the most important financial vehicles of the decade.
It doesn’t take a brain surgeon to see that if you are an investor and you are holding tens to hundreds of thousands of Iraqi Dinar and the country once again gets stable, you are going to be very rich. If the current Iraqi Dinar Exchange Rate is 1,150 dinar per US dollar and you buy 250,000 it will cost you around $217 and if a stable government keeps the peace for a good amount of time and the dinar even gets to an exchange rate of 1 dinar to 1 dollar, you will end up with a $249,783 profit.
While there is certainly no guarantee what the future hold for Iraq and the possibility for peace, anyone that invests can see what an opportunity buying Iraqi Dinar could hold. It is probably certain that we will one day see normal business activity and government and economic stability in Iraq. When that day returns, those who have invested in the national currency of Iraq will have their investment paid off in a big way.
Maybe this kind of investment is for you and maybe it isn’t. But it is at least worth looking at investing in the Iraqi Dinar and being able to say that you looked at what could become an opportunity of a lifetime.
About the author:
Jason Stevens writes about Iraq investment,
investing and economic news on his Plan For
Iraq Dinar blog where you can buy Iraqi Dinar
18 November 2009
Before and after the invasion of Iraq, the war’s goal of privatising Iraq’s oil to the benefit of Western oil corporations was highlighted not just by the war’s opponents, but also by many of its supporters.
The Iraq Study Group, which gave recommendations to the US government in 2006, said the US should “assist Iraqi leaders to reorganize the national oil industry as a commercial enterprise”.
It said Iraq’s leaders should also seek to “encourage investment in Iraq’s oil sector by the international community and by international energy companies”.
In 2007, former US Federal Reserve chairperson Alan Greenspan said: “I’m saddened that it is politically inconvenient to acknowledge what everyone knows: The Iraq war is largely about oil.”
Iraq’s oil production was nationalised in 1973. The idea that money raised from the sale of oil should go to foreign oil corporations is extremely unpopular in Iraq.
In 2005, the General Union of Oil Employees in Iraq said: “The privatisation of the oil and industrial sectors is the objective of all in the Iraqi state/government.
“We will stand firm against this imperialist plan that would hand over Iraq’s wealth to international capitalism such that the deprived Iraqi people would not benefit from it.
“We are taking this path for the sake of Iraq’s glory even if it costs us our lives. Iraqis are capable of managing their companies and their investments by themselves.”
Only 17 of 80 oil fields in Iraq are now being developed. The potential income from Iraqi oil production is billions of dollars. Oil revenue accounts for more than 70% of Iraq’s gross domestic product and 95% of government revenue.
The US-backed Iraqi government proposed the privatisation of oil production in a bill known as the Iraq hydrocarbon law. It was approved by the Iraqi cabinet in February 2007, but is yet to pass the Iraqi parliament due to widespread opposition.
A 2007 nationwide poll found 63% of Iraqis “prefer Iraq’s oil to be developed and produced by Iraqi state-owned companies [than] by foreign companies”. Oil workers also went on strike against the bill soon after it was brought to parliament.
Attempts to pass the law have been delayed until after the national elections, scheduled for January 15.
Such opposition has meant the quisling Iraqi government has had to find other ways to push privatisation. It has done this by signing agreements with oil corporations, which are called “service” agreements.
This means the Iraqi government pays foreign oil companies for the amount of barrels of oil the companies extract, as well as compensating them for any upgrades.
This is instead of granting oil companies a particular amount of the total revenue, which would be the case under the hydrocarbon law.
Despite the oil law not being passed, nearly 90% of Iraq’s oil reserves have been opened to foreign bidders to be “serviced”. In the first “auction”, only one of eight oil and gas fields has been sold, the giant Rumaila field in southern Iraq, to a consortium led by BP.
Oil companies complained the terms proposed by the Iraqi government were “unfair”. The government responded by weakening its terms for the second auction, to be held in December.
The Dow Jones newswire said on August 25 that one change means “international oil companies will be able to operate the fields. The first bidding round had stipulated that Iraqi oil officials would be involved in running the fields”.
It was announced on November 5 that the Iraqi oil ministry had struck a deal with major oil companies Exxon-Mobil and Royal Dutch Shell for the rights to “develop” West Qurna, which has verified reserves of 15 billion barrels.
Such contracts put the companies in a good position to gain further contracts for even more lucrative unexplored oil fields, and to get much better deals if the oil fields become fully privatised in the future.
An October 22 Reuters article explained the oil companies attitudes: “Oil tycoon T. Boone Pickens told Congress on Wednesday that US energy companies are ‘entitled’ to some of Iraq’s crude because of the large number of American troops that lost their lives fighting in the country and the US taxpayer money spent in Iraq.”
No mention at all was made of the more than 1 million Iraqi lives lost so tycoons like Pickens can accumulate even more wealth.
The (Elite) One Time Offer
(with DrDinar Home Study Course)
Everything delivered in the limited One Time Offer on launch day. Reval Hotline, Toll Free Reval Hotline When the Reval actually happens. Toll free for 75+ countries and 800+ cities, the reval hotline will provide special support for the reval event itself toll free around the world.
The above are only a portion of what will be available in a very limited special offer that every new site membership will see Only One Time upon entering the site the first time. It’s purpose is to reward the early birds with a very strong amount of live email and phone support plus much more.
-OR-
(Gold) DrDinar Home Study Course Package
You invest an additional $500 In Dinar or Iraq Stock Market, or other ground level areas in Iraq that you learned from your Gold membership.
$2000 return
-$400 Gold DrDinar Home Study Course package
-$500 Principal investment into Iraq economy
========
$1100 Profit – Keep in mind that experts are forecasting returns much greater than the $2000 example used above which would equate to less then half a penny Dinar reval rate.
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
site launch Priority Notification if you have
not already done so at http://DrDinar.com
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