To all our great PD members, here is a little bit of information we can share. Some of this will kill all of the rumors being reported for entertainment from the other sites.
As promised, this update is not quite as long as the past but never the less, still positive.
Here is the information from Ray.
Steve,
I had some contacts of mine look at the article that boandaisy posted concerning the IQD= 1.3 USD article. I found it very interesting that the reporter stated in the last paragraph that the Iraqi dinar has become one of the strongest currencies in the region at a rate equal to 1.3 US Dollars. He is basically stating in this article that the dinar has RVd at a rate of 1.30. I personally don’t agree with the rate but just the fact that he made that statement is pretty amazing. My contacts looked at the original Arabic version and agreed it is saying 1.3 and not 3.1. They told me when you see numbers written this way that you read it just as we read it. When you look at the date of 2011 above, it is 2011 not 1102. Very interesting article that I am going to do some more checking into. Will let you know if I find out anything else.
Blessings,
Ray
Ray,
From reading the entire article, it seems to be written in past tense. We are doing more research. I have heard from several sources the United States banks are ready for this event. I still believe we are on the right track.
The rate has me puzzled and I would rather not do any guess work. This is not the rate we have for sure. So, we need to let this play out. Personally, right now I would take anything and end this chapter.
God Bless you and your family,
Steve
Related News Article Referenced
Iraq seeks to regulate the financial sector in order to avoid the financing of terrorism and money laundering
Tuesday, May 31, 2011
BAGHDAD - Naseer goldfinch
Financial sector is still suffering Iraqi Anflata as a result of lack of oversight and the absence of laws organized, especially remittances abroad, which amounted to $ 30 billion in 2010, according to Central Bank of Iraq. After 2003, and found a large proportion of cash in Iraq on its way out of the country, especially neighboring countries, did not work any governmental or private to determine the size of these funds. After the government's control over key ports, and because of the difficulty of transporting money to the deteriorating security situation on the roads, picked up what is known as foreign exchange offices, which began its work in the form of natural and without any approvals, laws or censorship.
Says the owner of «the sun for conversion» Diaa Mohamed told «life», the regulators on the work of office conversion in most cities in Iraq is security, not financial, Kalmsrv Central or the Finance Ministry or local governments, but there are reports of transfers the information of the intelligence service in each province To see the size of the balances that prevent some of the names to make sure that their association with the financing of terrorism. He added: «We are a small office space, do not turn the money over 50 thousand dollars», pointing out that the work of the offices in Iraq through the systems of money transfer companies.
The first expert in the Iraqi Central Bank the appearance of Mohammed Saleh told «life» that the bank, or any other Iraqi, can not prevent foreign transfers or rationing system, as Iraq is committed to the laws of the International Monetary Fund, which provides free current account in the system of payments to companies and individuals. He stated that «every citizen the right to transfer funds, on condition that the intersection with the financing of terrorism and money laundering, so we added a condition for conversion represented by the request and the documents showing the reasons for the conversion of the amounts in excess of 50 thousand dollars».
Central Bank Sales
He stressed that the bank sells in the form of daily between 150 million and $ 180 million, and prevents the private sector each year, about $ 35 billion, representing two thirds of the proceeds of Iraqi oil. He reported that it is not plausible that all of the conversions are intended to cover foreign trade, the imposition of the Central Bank to add an item requires another regulatory review of the General Authority for taxes on amounts in excess of 50 thousand dollars for the organization of the conversion process and the pursuit of tax evaders. He disclosed the presence of people turning $ 100 million, while they recognized that tax indicates otherwise.
In regard to the activity office conversion confirmed the appearance of it «adopt in its work on the Central Bank as a source of foreign currency», pointing out that Iraq's economy, Rei, and dependent on oil revenues transferred to the «Development Fund for Iraq» and then to the Central Bank to sell those currencies covering the needs of the budget. He said the bank's policies have contributed to the stability of the Iraqi market, even the Iraqi dinar has become one of the best currencies in the region because it is equal to 1.3 U.S. dollars, therefore the possibility of expansion content in the market during this phase.
http://translate.goo...larticle/272519
