Tuesday, October 9, 2012


10-9-12 Mountainman: The World Bank investing 100 million in Iraq and the announcement that their oil production is continuing to reach record levels is a great sign. IEA's chief economist said that in order for Iraq to fully reap the benefits and move forward as a nation, they must pass the HCL, revenue sharing and the latest reforms. We've been saying all along that the Hydrocarbon law is key. The IEA said today that if reforms are delayed, production growth would be slower, costing the Iraqi economy $3tn in lost national wealth and would bring difficult times to international oil markets. You can be sure that Iraq will not let that happen. Greed will force growth and a resolution. The recent temporary revenue agreements have shown that they can come to a compromise and the 100 million from the World Bank is most likely to beef up their infrastructure in order to facilitate the upcoming economic reforms. Lets not also forget that Iraq is now ranked 3rd in the supply of gold bullion to the UAE worth $1.27 billion. There is no way they will continue to, deserve, or can justify having a worthless currency. It's only a matter of time.

10-9-12 Skitealwedrop: Iraq has plenty of unrealized assets. Gold and Oil to be specif. Iraq could be a wealthy nation. The current GOI is responsible for the lack of productivity in Iraq. The antiquated Muslim beliefs hinder the GOI and it's productivity. The balance sheet of Iraq could be stellar. We will have to wait and see how the GOI progresses. The M.E. is a mess. The leaders in the Middle East just don't get it.

10-9-12 Gregp: It sounds like they are getting close to the meeting. Let's hope and pray, they can get this done, so they can feed their poor, and help bail out the US, and Europe. "President Talabani will bring together the terms of the Erbil and paper Reform and visions of the blocks to provide a unified paper at the National Meeting."

10-9-12 Zigmeister: I guess Iraq was not kidding when it was talking about its gold. This is a good thing. "Iraq ranked third in the supply of gold bullion to the UAE worth $1.27 billion. The value of UAE foreign trade of gold bullion in the past five years (from 2007 to 2011) about 390.85 billion dirhams (equivalent to 106.5 billion dollars) while the value of the country's exports of these alloys during the same period 192.3 billion dirhams (52.4 billion dollars) and imports 196.71 billion dirhams (53.6 billion dollars). Thus comes the UAE between the Big Five in the World Trade alloys gold. Switzerland of the biggest suppliers of alloy gold for the UAE in 2011 worth 2.17 billion dollars and a contribution rate of 12.7% in the second came Sudan worth $1.97 billion and a contribution rate of 11.6% and then Iraq in third place worth $1.27 billion and the percentage contribution 7.5%." 

Russia: Confirms readiness to support Iraq’s emergence from Chapter VII, 9 OCTOBER

Russia: Confirms readiness to support Iraq’s emergence from Chapter VII

Chairman of the State Duma of the owners: Russia is making all efforts to emerge from Chapter VII
Date: 09/10/2012 13:35:48 Tuesday
Baghdad (news) .. Prime Minister Nuri Kamal al-Maliki, for Iraq’s desire to develop its relations with the Russian Federation.
statement said Prime Minister’s Office Tltguet Agency (news) copy of it: The owners met President of the State Duma Sergei Naryshkin, where he desire Iraq development of relations with Russia, stressing that diversity delegation, which comprises foreign ministers and oil, defense, trade and other officials shows Iraq’s desire to expand relations between the two countries in various fields, pointing to the presence of Russian companies in Iraq and calling for activating this presence and to contribute to the process of reconstruction of Iraq, also called on Russia to support Iraqi efforts to get out of Chapter VII.
statement added: Prime Duma confirmed his country’s readiness to support Iraq in its efforts to emerge from Chapter VII and enhance its international status, calling for the development of bilateral relations in various fields. meeting was attended by members of the ministerial delegation and parliamentary facilities for state Prime Minister, said Oil Minister Abdul Karim and coffee that cooperation in the oil industry between Iraq and the Russian Federation in sleep constantly and will be made ​​during the next two weeks the signing of the exploration Riqotain new between Iraq and a Russian oil companies, urged the Secretary of Commerce to raise the level of trade exchange between the two sides, The Chairman of the Foreign Relations Committee in the House of Representatives Hamoudi to head the State Duma invitation to visit Iraq

CBI: put the Iraqi dinar began to improve in front of difficult international currency, 9 OCTOBER

CBI: put the Iraqi dinar began to improve in front of difficult international currency

He attributed the deputy governor of the Central Bank of the appearance of Mohammed Saleh reasons for the high price of gold on world markets to the economic crisis that swept Europe and America, which led to the devaluation of the dollar and the euro against other currencies.
Saleh said ‘the global crisis that hit Europe and America have made ​​the demand for gold increases for taking as inventory reserves to keep the wealth, which led to increased price on the world markets with low value of the dollar. ‘
and explained that ‘put the Iraqi dinar began improving in front of the international currency difficult and will improve more during the coming period as a result of increased oil production, which will refund substantial financial resources of hard currency, which makes the country away from the global economic crisis’.