D.G. of Foreign Exchange Control
The 1008 daily currency auction was held in the Central Bank of Iraq day Thursday 2007/9/13 so the results were as follows :
| Details | Notes | |
| Number of banks | 19 | —– |
| Auction price selling dinar / US $ | 1235 | —– |
| Auction price buying dinar / US $ | —— | —– |
| Amount sold at auction price (US $) | 128.720.000 | —– |
| Amount purchased at Auction price (US $) | —— | |
| Total offers for buying (US $) | 128.720.000 | —– |
| Total offers for selling (US $) | —— | —– |
James said,
October 25, 2009 at 2:10 pm
I emailed to President Barack Obama on Thursday 22 of October 2009, as follows:
Just look at China’s currency rate since the day it was revalued after communism was fading away. Why is her currency rate still remaining very low despite it is still rising slowly? Their cheap labour to worldwide’s markets is killing numerous businesses in the west by creating more redundancies, every year. One of the giants called Maersk in the shipping business is heading towards hell. Why? Could China’s cheap offers spoil the markets of the west? Of course! If the currency rate of Iraqi Dinars is not revalued asap, Iraq will be the next “China” to kill the world economy of the west within a few years’ time due to cheap labour as well. Is not “Once beaten twice shy” sufficient to feel the pain of repeated economic downturn particularly in the west? Truly, “An ounce of prevention is worth more than a pound of cure” should be a good advice to “Procrastinators”. Please be forewarned that Iraqis are shrewd, if not a cunning fox like the many Chinese in China.
Please revalue Iraqi Dinars asap, Mr President!
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I have emailed to many world key bodies to look at situation of a solution to revalue Iraqi Dinars without further delay.
Here it goes:
I would like to know what have you to suggest to improve all my key points here? My second reason for emailing all important world key bodies is to hope everyone here is an extra helping hand and not a yes-man to the blind like ex-president Bush who led the blind to the gutter of failures and more failures badly affecting the global market altogether. Appointing any political leader who doesn’t read newspaper everyday to update himself is likened to allow a qualified butcher to lead a team of qualified surgeons to operate on their patients. My contribution of suggestions is not just about enriching myself, you all or the Iraqis. I have fear because of the Devine Voice I have received last month and I daren’t say I am qualified to receive such a message to warn all of you who are appointed to guard the world economy. But however, we need to carefully focus on one important popular proverb in the past generations of the British I still love so much: When we have gold, we are in fear: when we have none, we are in danger. Please do revalue Iraqi Dinars at an excellent rate soonest possible to save us all from future further more economic downturns which could be unintentionally caused by the “Iraqi Business Invasion” in the west first. The concept of cheap skilled labors is likened to a dirty person jumping into a clean swimming pool filled with considerate swimmers around. Every country wants cheap skilled labors but it is not right to do it at the expense of a hand-to-mouth existence in their own country. I was also a victim of redundancy and retrenchment. Therefore, I do empathize with all other victims of the same. Please share and understand the need not to keep procrastinating for any changes to improve global economy. We must remain in one mind showing solidarity.
Another email to the US President on Saturday 24 October 2009:
Dear US President Barack Obama,
Sir, I would like to stress more important points of revaluing the Iraqi Dinars at an excellent rate asap right here in the letter of my appeal to give the voice of American pragmatism in support of revaluation plan an added weight of truth. It is not just about protecting the Kuwait’s economic power alone despite the fact the fast-growing oil business in Iraq will definitely affect Kuwait’s oil business in a bad position sooner or later because of the vast differences in oil prices. It is more about what a new Iraq can be – the possibility of Iraq becoming a future copycat of China’s economic power is what we most worry next. As a matter of fact, China was then secretly learning the tricks of India’s economic power in the past, of which many didn’t actually realize. Fancy that the fools have rushed in where angels feared to tread. Those daring fools are now filthy-rich in China and some have migrated elsewhere to do business.
Allow me to contribute an excerpt from a good book written by two qualified business experts Wee Chow Hou and Lan Luh Luh on “THE 36 STRATEGIES OF THE CHINESE”. It is an inspiration so comprehensible to any layman, as follows:
Without doubt, China is becoming a stronger economic power by the day. The Asian economic crisis which precipitated in 1997 clearly demonstrated the increasing influence of the Chinese on world economy and politics.
That China will emerge as a powerful economy in the twenty-first century is no longer a question for forecasters. It is now a reality. Thus, it is imperative that we learn to better understand the Chinese psyche, especially in the realm of business.
Despite its modernization and entry into the free market economy, China’s five thousand years of history, culture and value systems still dominate the way Chinese think and behave. Confucian ethics, Taoist influences and other ancient Chinese classics still form valid reference points for understanding Chinese behaviour.
Well-known Chinese classics have often been cited as important driving forces in the minds of Chinese strategists. Sun Zi’s Art of War, the annals of the Three Kingdoms, Water Margin, and several other Chinese military classics are good examples. Indeed Chinese war strategies have become topics of research, especially in their application to business. This is not surprising, considering the fact that the Chinese have a saying that the business world is like a battlefield.
The “Thirty-six Strategies” are well-known to the Chinese and are frequently applied in business practices. No one can pinpoint the exact period in which the thirty-six strategies were written, nor the exact combinations of strategies that constitute the thirty-six. However, through the years, scholars have expediently adopted the thirty-six strategies as a set of common tactics used by the Chinese.
Though widely known and applied by the Chinese, these “Thirty-six Strategies” are less familiar to others. Even less-known are their strong applicability to business. This book attempts to bridge this gap of understanding between the East and other cultures of the world. It seeks to provide a timely insight into the mind of the Chinese strategist.
In business, China may be extraordinarily shrewd but Iraq is definitely not that stupid either. An appropriate fast action is needed to fix the Iraqi Dinar at an excellent rate is not just to avoid destroying Kuwait’s stabilized economy in the near future as well – that I must remind you once more – but as a justifiable reason to prevent Iraq from emerging as a “Second Chinese Business Invasion” possibly first attacking the west in the next round of more business wars very soon. It is the same supposition of many experienced business planners with remarkable foresight, of whom I have met and learned for years. We must save all business giants like Maersk from sinking slowly into the seas of failures without further delay. I was retrenched by Maersk not long ago due to redundancies in Singapore badly affected by the ongoing “Chinese Business Invasion”, perhaps.
Sir, I have sincerely contributed such a constructive suggestion because I hope everyone is in the win-win situation enjoying the same equal democratic rights to have a legal job to support their family for a long time, if health permits. Be very inspired: Weak things united become strong. In Strategy 3 among the “Thirty-six Strategies”: Killing with a borrowed knife, many shrewd Chinese big players in Asia, particularly in China, may often apply this strategy for a temporary solution but please be wary of such expedient to help prevent endangering the economy of the United States of America with all unproven and incompetent economic policies because many Asians still depend on her economic strength for survival. Do not allow any country to use other country to destroy your country, sir!
That’s all!
Sincerely,
A concerned retrenched Singaporean with sanity