The Dinar Daily, Thursday May 7, 2015
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  1. #1

    The Dinar Daily, Thursday May 7, 2015


    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1309.418 1308.763
    British pound GBP 1775.235 1774.347
    Canadian dollar CAD 970.938 970.453
    Swiss franc CHF 1262.178 1261.547
    Swedish krona SEK 140.347 140.276
    Norwegian krone NOK 153.643 155.656
    Danish krone DKK 175.412 175.324
    Japanese yen JPY -------- --------
    Drawing Rights
    SDR 1638.277 1637.324

    Indicative rates - (as of) 7.5.2015

    Currency Auctions

    Announcement No. (2946 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 06/05/2015 and the results were as follows:

    Number of banks 20
    Number of remittance companies 4
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 175,338,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 175,338,000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 05-08-2015 at 10:18 AM.

  2. #2

    Re: The Dinar Daily, Thursday May 7, 2015

    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:

    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.

    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:

    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.

    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

    The Republic of Iraq – Ministry of Planning


    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…

    2) the Gold Article…

    3) the IIER report…

    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.

    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.

    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.

    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…

    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??

    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.

    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”

    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??

    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.

    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________


    Coins put on the market !!

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century


    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.


    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.


    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters

    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,

  3. #3

    Re: The Dinar Daily, Thursday May 7, 2015

    Kurdish security forces attack Islamic State extremists outside the oil-rich city of Kirkuk, 180 miles north of Baghdad, Iraq, last month. (AP)

    Obama administration seeks to alter bill that has caused furor in Iraq

    By Missy Ryan May 6 at 7:10 PM

    The Obama administration has launched a campaign on Capitol Hill aimed at scrapping a legislative measure that has outraged the Iraqi government and led a senior Shiite cleric to threaten the mobilization of a powerful militia that could threaten U.S. troops.

    The House measure, tucked into an early version of an annual defense bill, would require the Pentagon to set aside at least a quarter of up to $715 million in military assistance to Iraq for support to Kurdish peshmerga forces and Sunni tribal fighters.

    The bill also proposes deeming the peshmerga and certain tribal fighters “a country” so they would be eligible to receive direct U.S. military aid against the Islamic State in the event that Iraq’s central government in Baghdad does not take steps to sufficiently empower them.

    The government of Prime Minister Haider al-Abadi was particularly incensed by the use of the word “country,” which goes to the heart of the decades-long dispute over the degree of autonomy enjoyed by Iraq’s Kurdish region. Iraqi Kurds have gained significant political clout since 2003, but they continue to clash at times with Iraq’s central authorities and have threatened to hold a referendum on independence.

    The bill “will only lead to further divisions in the region,” the Iraqi government said in a statement last week on Abadi’s Web site.

    The House measure also drew criticism from Grand Ayatollah Ali Sistani, a widely revered Shiite cleric, and Moqtada al-Sadr, another powerful cleric whose *Iranian-backed Mahdi Army militia fought fierce battles with American forces after the 2003 U.S.-led invasion. Sadr threatened to reactivate fighters under his command and attack American interests.

    That would intensify the risks facing 3,000 U.S. troops now stationed across Iraq on a limited mission to train and advise Iraqi forces. Although the Mahdi Army was formally disbanded in 2008, Sadr controls several other militias, including the Peace Brigades.

    “If the time comes and the proposed bill is passed, we will have no choice but to unfreeze the military wing that deals with the American entity so that it may start targeting American interests in Iraq and outside of Iraq when possible,” Sadr said, according to the Long War Journal, a Web site that tracks military issues.

    A U.S. official, speaking on the condition of anonymity to discuss private discussions, said administration officials had reached out to lawmakers to make a case on what such a measure, if passed into law, “would mean for our interests in the region.”

  4. #4

    Re: The Dinar Daily, Thursday May 7, 2015

    AA photo.
    ISIL’s antidote is Istanbul’s ‘refined’ Islam, Turkish PM says

    Turkish Prime Minister Ahmet Davutoğlu has said the “refined” interpretation of Islam in Istanbul is the “antidote” to Islamic State of Iraq and the Levant (ISIL) extremism.

    “I never break up Islam into parts, but ultimately the refined Islam of Istanbul and the attraction of the city, which everyone sees as a reference point, are an antidote to ISIL,” Davutoğlu said during a live television interview broadcast on Kanal 7 and Ülke TV late on May 6.

    He also said he assigned a “mission” to Turkey’s Directorate of Religious Affairs (Diyanet) to work in regional centers like Damascus, Baghdad, Jerusalem and Mecca against “the sectarian conflict that have arisen in the Middle East.”

    The Turkish prime minister criticized main opposition Republican People’s Party (CHP) head Kemal Kılıçdaroğlu and Peoples’ Democratic Party (HDP) Co-Chair Selahattin Demirtaş for their recent criticism of the Diyanet.
    Davutoğlu said the “reasonable voice” of Turkey’s moderate Islam had come under attack at a crucial time in the region.

  5. #5

    Re: The Dinar Daily, Thursday May 7, 2015

    President of the Kurdistan region of Iraq, Masoud Barzani speaks at the Atlantic Council in Washington, DC, May 6, 2015. (AFP/Jim Watson)

    Barzani: Kurdish referendum delayed due to conflict in Iraq
    Published May 7th, 2015 - 10:30 GMT via

    Northern Iraq’s Kurdish region will “certainly” vote on independence, the region’s leader pledged during a visit to Washington D.C. on Wednesday.

    Referring to the ongoing conflict with Daesh, also known by the acronyms ISIL and ISIS, Kurdistan Regional Government President Masoud Barzani said: “Right now our country is in a fight against ISIS, the fight is not over but that’s why the issue of referendum has been delayed. Of course the referendum will take place.”

    A vote to break away from Baghdad is strongly opposed by the central government, which challenges the region’s authority to hold a referendum. Kurdish-controlled northern Iraq is rich in oil and gas deposits that Baghdad is keen to control.

    There are also fears that complete Kurdish self-rule could pave the way for other ethnic groups to seek independence.

    However, Barzani maintained there was little doubt that there would eventually be an independent Kurdish state.

    “I cannot predict whether it will be next year or when but certainly the independent Kurdistan is coming,” he said.

    Barzani, who has led the regional government since 2005, also promised that Kurdish peshmerga fighters who have been instrumental in combating Daesh and reversing some of the extremists’ successes, would not abandon the conflıct.

    The battle to recover Mosul from the jihadists is likely to be the next major confrontation. The city, Iraq’s second largest, has been under Daesh control since Iraqi government forces fled in June last year.

    “So long as the terrorists of ISIS are in Mosul, they will be a direct threat to the Kurdistan region,” Barzani said. “We will do whatever we can in order to help liberate Mosul.”

    Touching on the ‘solution process’ between the Turkish government and Kurdistan Workers’ Party (PKK) insurgents that seeks to end decades of violence, Barzani said the efforts to broker peace were “an important part” of Erbil’s relationship with Ankara.

    “We hope that a peaceful solution would be found for the Kurdish question in Turkey,” he said.

    In a statement on Barzani’s meeting with Deputy Secretary of State Antony Blinken, the State Department said Blinken had emphasized the US’s “strong and continued support to a united, federal and democratic Iraq.”

  6. #6

    Re: The Dinar Daily, Thursday May 7, 2015

    Dindar Zebari, Deputy head of Kurdistan’s department of Foreign Relations. Photo: NRT

    Kurdistan official says over 5,600 Yazidi Kurds are still missing

    Posted on May 7, 2015 by Editorial Staff in Yazidis

    ERBIL-Hewler, Kurdistan region ‘Iraq’,— Over 5,600 people of Iraq’s Yazidi community are missing, an official of the Kurdistan Regional Government (KRG) said on Wednesday.

    Speaking at a press conference, Deputy Head of the KRG Department of Foreign Relations for International Organizations Dindar Zebari stated that a total of 5,670 Yazidi Kurds are listed as missing, but he added that the whereabouts of those people was unknown.

    “It doesn’t mean they are all held by Islamic State,” Zebari said.

    Islamic State group (IS) has extended its control on most parts of Sinjar (Shingal) district (124 km west of Mosul) on August 3, 2014, which led thousands of Kurdish families to flee to Mount Sinjar, where they were trapped in it and suffered from significant lack of water and food, killing and abduction of thousands of Yazidis as well as rape and captivity of thousands of women.

    Thousands of Yazidi Kurdish women and girls have been forced to marry or been sold into sexual slavery by the IS jihadists, according to Human Rights organizations.

    Stories of women and girls in IS’ hands being raped and sold into slavery have been documented by various human rights organizations. A Human Rights Watch report released on April 15 described “a system of organized rape and sexual assault, sexual slavery, and forced marriage” by militants.

    According to Zebari, at least 1,140 Yazidis have been released by IS and many others have escaped captivity.

    IS released two groups of up to 200 sick and elderly captives in January and again in April.

    The Yazidis are a Kurdish religious group linked to Zoroastrianism and Sufism. They currently live primarily in Iraq’s Kurdistan region and the Nineveh Province of northern Iraq.

    Some 600,000 Yazidis live in villages in Iraqi Kurdistan region and in Kurdish areas outside Kurdistan region in around Mosul in Nineveh province, with additional communities in Transcaucasia, Armenia, Georgia, Turkey, and Syria, as their members having emigrated to Europe, especially to Germany.

    There are almost 1.5 million Yazidis worldwide, half a million of whom live in Iraq.

  7. #7

    Re: The Dinar Daily, Thursday May 7, 2015

    Syria: Why The Turks Prefer To Wait

    May 7, 2015: In the east (Deir Ezzor province) ISIL forces launched an offensive yesterday to take the last major government base (the airport outside the provincial capital) along with the half of the capital the Islamic terrorist forces do not already hold. There is some urgency to this as over 200,000 civilians are trapped in the city and many are starving. Deir Ezzor would be the second Syrian province seized by ISIL, which already controls Raqqa to the northwest. The capital of Raqqa province is the ISIL capital. In March ISIL and al Nusra forces captured Idlib city to the west and is fighting to control all of Idlib province. In effect, despite the presence of several hundred Hezbollah fighters, the government has lost control of Idlib. Deir Ezzor province is key because it controls major highways leading to Iraq and north to Hasakeh province (on the Turkish border and controlled by the Kurds). Eastern Syria consists of Raqqa (which borders Turkey), Deir Ezzor (which borders Iraq) and Hasakeh (which borders Turkey and Iraq) provinces. All are thinly populated and largely desert.

    Meanwhile ISIL continues to have problems with Sunni tribes (especially the Shueitat) who oppose ISIL presence in Deir Ezzor province. In mid-2014 ISIL killed over 700 hostile tribesmen, some by beheading or crucifixion. This put a stop to open resistance, but then tribesmen turned to guerilla warfare and claim to have killed several hundred ISIL men. This armed resistance (of several hundred tribesmen men calling themselves “Shite Shroud”) forces ISIL to keep more men in the east to maintain order and protect supply lines, especially to ISIL fighters still confronting Kurds in the east. ISIL has not forgotten their recent defeat at Kobane. While that cost ISIL several thousand fighters (dead, maimed and deserters) it also killed over 500 Kurds. By crushing all government forces in Deir Ezzor ISIL can then concentrate on pacifying or wiping out (a traditional remedy ISIL approves of) hostile tribes and eventually doing the same to the troublesome Kurds. Since mid-2014 ISIL is believed to have murdered over 2,200 captives in Iraq and Syria.

    For the first time since 2014 rebels have again launched attacks in Latakia province, which is on the coast and borders Turkey. This is pro-Assad territory and this rebel incursion is basically a raid. It is very embarrassing for the Assads and most of the rebels will eventually be trapped and killed, but in the meantime it causes more unease among Assad supporters.

    The fighting was intense in April, leaving over 3,000 dead, most of them civilians. The 2014 death toll was 76,000 and at the beginning of 2015 over 220,000 had died since the civil war began in 2011. At this rate that may reach nearly 300,000 by the end of 2015. While the Assad forces have suffered losses in the east (Deir Ezzor) and around Aleppo (Idlib) so far this year the government forces have made gains around the capital (Damascus) have managed to hold on to their key areas. Despite that many members of the Assad clan would like to negotiate their way out of this mess. That is not likely right now but in this part of the world it is always a possibility. As strong as ISIL is on the ground they have managed to turn most Moslems against them, along with all non-Moslem states. Many rebel factions are still fighting each other and Syria is a mess.

    Despite calls from Saudi Arabia, Turkey has again refused to send troops into Syria. Turkey believes that it will be another two or three years before the various factions inside Syria will be worn out and worn down sufficiently for a foreign force to come in and begin cleaning up. To get involved now would leave the Turks identified as a foreign aggressor and would mean over a year of bloody combat, some of it on the Turkish side of the border. Wait a bit and the Turks can come in as saviors and that means a lot fewer Turkish casualties. The Saudis have to defer to this Turkish assessment because the Turks have centuries of experience handling Arab uprisings and seem to know what they are taking about. Moreover the Turks possess the most capable Moslem armed forces on the planet. You can’t argue with capability and experience. This is one area where the Turks and Israelis are in agreement as both believe that the war has to be allowed to run its course before outsiders get involved. Israel is an unofficial but very active ally of the Saudis and while Israel would also like to see the Turks sweep in and stop the civil war, they agree with the Turkish assessment and that made it doubly difficult for the Saudis to keep pressing for an intervention.

    Although the American led coalition has been attacking ISIL from the air in Iraq and Syria since 2014, the pattern of attacks are different in each country. As of early May there have been over 2,000 attacks in Iraq, of which two-thirds were American. In Syria there have been over 1,500 attacks of which over 80 percent have been American. Because of the more complicated political situation in Syria fewer NATO and Arab nations are willing to make attacks there. These attacks have killed over 2,000 ISIL (and allies) personnel in Syria and Iraq. This air campaign began on August 8 2014 when the U.S. began aircraft began attacking ISLI in Iraq. Between then and the end of the year over 14,000 sorties were flown, mostly by American aircraft but also by those from NATO and nearby Arab countries as well as Australia. Only ten percent of those sorties result in an aircraft using a smart bomb or missile. Since August 2014 this coalition has hit over 6,000 ISIL targets, most of them in Iraq. Moreover many of the Iraq targets were hit with the help of American, Kurdish or Iraqi controllers on the ground. Thus the air attacks in Iraq are much more damaging to ISIL. Moreover more than half the air attacks have been in Iraq and this air support is a major reason why ISIL has lost about a quarter of the Iraqi territory it held in late 2014. Many, if not most, of the coalition air attacks in Syria have been against ISIL administrative, economic and logistical targets in eastern Syria, which ISIL is trying to run as an “Islamic State.” That is not working out so well with growing rebellion among the local tribes and similar problems with foreign volunteers who become disillusioned and try to leave (although a few have joined the local anti-ISIL rebels). ISIL (al Qaeda in Iraq and the Levant) has set up an “Islamic State” in eastern Syria and western Iraq and this “Caliphate” seeks to be more Islamic than anyone else and as a result people are starving and dying from lack of medical care and much else. This is not unusual in strife torn areas, even when there is lots of foreign aid available. But ISIL is worse because they will not accept any aid from non-Moslem charities and even those NGO (non-government organizations) charities that pass the religion test are heavily “taxed” and regulated by ISIL officials. As a result much aid does not get to where it is needed and even then much is diverted to ISIL as taxes and fees. This is a trend that has been developing for some time.

    May 6, 2015: On the Lebanese border Hezbollah and Syrian Army forces attacked an al Nusra base while a meeting of al Nusra leaders was taking place and killed three of the senior al Nusra men there. Al Nusra is an al Qaeda affiliate and temporary ally of ISIL. This attack is a continuation of a year-long campaign by Hezbollah and the Syrian Army to push rebels, especially al Nusra, away from Damascus. Now al Nusra forces are up against the Lebanese border and Hezbollah wants them gone from there as well. Soldiers and Hezbollah fighters have also managed to recapture key roads that are essential for getting to supplies to large concentrations of rebel fighters around Damascus. Hezbollah is receiving lots of aid from Iran. This includes weapons, ammo, medical supplies and hundreds of advisors and trainers. Hezbollah has also, with Iranian help, built an airbase near the Syrian border from which Iranian made recon UAVs operate. This gives Hezbollah an edge as it has constant aerial surveillance of areas its fighters are operating in.

    In the northeast (Hasakeh province) ISIL tried to attack a Kurdish base, beginning with a suicide car bomb. The attack was repulsed but 16 Kurdish fighters were killed, many by the car bomb.

    May 5, 2015: On the Lebanese border Hezbollah captured a Syrian village held by al Nusra rebels. There were about 30 casualties, including twelve Islamic terrorists killed. Yesterday the Hezbollah leader announced that his fighters would soon begin clearing all Syrian rebels (especially the Islamic terrorists) from the Syrian side of the Lebanese border. While most Lebanese oppose Hezbollah involvement in Syria, they are quite enthusiastic about getting the Islamic terrorist groups away from the border. These groups, especially al Nusra, have been raiding into Lebanon and terrorizing Lebanese civilians all along the border. Another reason for popular support of this Hezbollah offensive is that it will lead to the reopening of the main Jordan border crossing. This was captured by al Nusra in early April and that shut down commercial traffic from Lebanon to the Gulf States. That traffic carries exports that amount to six percent of Lebanese GDP.

    The U.S. offered $20 million in rewards for information leading to the capture or killing of four senior ISIL leaders. These included Abd al Rahman Mustafa al Qaduli (a former al Qaeda-in-Iraq leader who joined ISIL in 2012), Abu Mohammed al Adnani (the official spokesman and “face” of ISIL), Tarkhan Tayumurazovich Batirashvili (a senior combat commander) and Tariq Bin al Tahar Bin al Falih al Awni al Harzi (commander of all suicide bombing operations as well as forces in northeastern Syria).

    May 4, 2015: On the Syrian border mortar shells fired from within Syria hit a UN position and wounded two Nepalese peacekeepers. The wounded were taken across the border to Israel for medical treatment.

    In Damascus three al Nusra men attacked a military base inside the city with a suicide bomb and gunfire. All three attackers were killed along with three soldiers. Such an attack inside the city is rare.

    April 30, 2015: On the Israeli border a main border crossing changed hands as rival Islamic terrorist factions fought each other for control. While al Qaeda affiliate al Nusra has made temporary peace with ISIL, several other Islamic terror groups have not. In addition there are clashes with secular rebels, based in Jordan, who don’t get along with most Islamic terrorist rebel factions.

    April 28, 2015: On the Israeli border two mortar shells from Syria landed in Israel. There were no casualties and no damage.

    April 27, 2015: Near the Israeli border Israeli warplanes destroyed missile launchers on the Syrian side of the frontier.

    Near Aleppo (Idlib) al Nusra forces captured another army base, killing over 130 soldiers and capturing armored vehicles and lots of ammo.

    April 26, 2015: Near the Israeli border Israeli warplanes attacked four men moving towards the border with a bomb, killing the four and setting off the explosives they were carrying. Islamic terrorists regularly set up bombs on the border and try to detonate them when Israeli patrols come close.

    April 25, 2015: Israeli warplanes bombed a Syrian Army weapons storage area. This was another attack to destroy Iranian weapons being transferred to Hezbollah. In this case it the target was believed to be SCUD ballistic missiles.

  8. #8

    Re: The Dinar Daily, Thursday May 7, 2015

    Iraqi fighters from the Saraya al-Salam (Peace Brigades), a group formed by Iraqi Shiite Muslim cleric Moqtada al-Sadr, carry weapons as they sit on a vehicle during military training in the mainly Shiite southern city of Basra, on May 1, 2015. (AFP/Haidar Mohammed Ali)

    Iraqi forces kill 18 Daesh militants in Fallujah
    Published May 7th, 2015 - 08:30 GMT via

    Iraqi government forces have killed more than a dozen members of Daesh in the troubled western province of Anbar as they continue to battle the terrorists and purge various districts across the country of them.

    According to a statement released by the Iraqi Defense Ministry, 18 Daesh militants were killed as Iraqi troopers fired a number of rockets at Daesh positions in the city of Fallujah, located roughly 69 kilometers (43 miles) west of the capital, Baghdad, on Wednesday.

    The statement said a director for Daesh's economic and financial affairs, identified as Abu Sora al-Maslawi, was among the slain militants.

    The development came only two days after Iraqi fighter jets pounded Daesh hideouts in the city of Shirqat, located some 300 kilometers (190 miles) north of Baghdad, and the districts of Makfoul, al-Mallaha and al-Ba’aji in the in the country’s northern province of Salahuddin.

    A total of 59 Daesh militants were killed on May 2 as Iraqi soldiers exchanged heavy fire with the extremists in the town of al-Karma, located 48 kilometers (30 miles) west of Baghdad.

    Iraqi security forces also defused 46 improvised explosive devices (IEDs), destroyed 15 militant hideouts as well as a pick-up truck with a heavy machine gun mounted on it, defused bombs planted inside 14 houses, and seized a Browning 50-caliber machine gun.

    Separately, Iraqi soldiers killed 14 Daesh members as they destroyed militant hideouts in the western part of the capital. The troops also defused 55 IEDs in Baghdad’s southern neighborhoods of al-Khatimiya and al-Alimiya.

    The northern and western parts of Iraq have been in chaos since Daesh started its campaign of terror in early June 2014. The terrorists are in control of Mosul and they have swept through parts of the country.

    Since then, Iraq’s army has been joined by Kurdish forces, and Shia and Sunni volunteers in operations to drive Daesh out of the areas they have seized with the recapture of the northern city of Tikrit being their most significant recent achievement.

    Editor's note: This article has been edited from the source material

  9. #9

    Re: The Dinar Daily, Thursday May 7, 2015

    Portugal’s joint chief of staff acknowledged on Wednesday that there were risks in the operation that 30 Portuguese soldiers and officers were going to undertake in Iraq helping in the fight against IS, but said he was confident in their performance.

    Portugal's Iraq mission 'not risk-free' - Top brass
    BY TPN/ LUSA, IN NEWS · 07-05-2015 08:34:00 · 0 COMMENTS

    "There are no risk-free military missions. You just have to look at the environment in that region and of course it is a risky mission", said General Pina Monteiro, speaking to Lusa News Agency in Luanda on the sidelines of a meeting of Portuguese-speaking country military brass.

    The 30 officers, sergeants and soldiers are leaving Portugal on Wednesday and the training contingent is part of an international coalition against IS that is expected to last “about a year”, Pina Monteiro said.

    "I would like to tell them that I believe in them, in their skills, in their abilities and I am sure they will honour the name of Portugal and the Portuguese armed forces”, General Pina Monteiro added.

  10. #10

    Re: The Dinar Daily, Thursday May 7, 2015

    OpEdNews Op Eds 5/7/2015 at 01:13:31
    Women Bridge Divide Between Koreas By Crossing the DMZ

    Women's Group Gets North Korea Support to Walk Across DMZ

    During the Bush administration, Iran, Iraq and North Korea were collectively known as the "Axis of Evil" -- common enemies of the U.S. for alleged terrorist activities and pursuit of weapons of mass destruction. Such an ominous-sounding triumvirate helped to garner public support for the U.S. "War on Terror" that has devastated the Middle East and skewed U.S. foreign policy toward military solutions.

    After a decade of disastrous military interventions, the Obama administration has been experimenting with a different way to deal with adversaries: diplomacy. With Iran, U.S. diplomats and allies have been hard at work to reach an historic deal that will limit Iran's ability to obtain a nuclear weapon -- and prevent another Middle East war. With Cuba, the Obama administration surprised the world with the December 17, 2014 announcement that it was undertaking a process to normalize relations after over 50 years of hostilities.

    Now it's time to chart a diplomatic roadmap in another region with long-festering hostility: the Korean peninsula. Seventy years ago, the United States and North Korea signed the Korean War Armistice Agreement to stop the horrific fighting between the U.S.-backed South and the former Soviet-backed North that was responsible for the death of nearly 4 million people. Although this agreement put an end to the physical warfare, the militarization of the border, war games, skirmishes, infiltrations, and defections have continued to divide Korean families and keep the peninsula on the edge of conflict. Throughout the intervening decades, the Armistice Agreement has never been replaced by a Peace Treaty to move the north and south towards reconciliation and perhaps even reunification.

    In reference to Cuba, President Obama said, "If you've done the same thing for 50 years and nothing has changed, you should try something different." The same is true with North Korea. The policy of isolation, condemnation and lack of contact between ordinary citizens has certainly not helped to open the reclusive regime or bring peace to the peninsula.

    So, a group of international women are stepping in to "try something different."

    On May 24, International Women's Day for Peace and Disarmament, I will be one of 30 women from 15 countries who will engage in a historic march from North to South Korea, crossing the Demilitarized Zone (DMZ) -- an ironic misnomer since the DMZ is flanked with cluster bombs, landmines, armed troops, barbed wire and surveillance equipment, making it the most militarized border in the world. This will be only the third time in 70 years that an international group has crossed this border. We will also hold international peace symposiums in both Pyongyang and Seoul where we can listen to Korean women and strategize about peace initiatives.

    The women involved in Women Cross the DMZ include peace activists, writers, professors, lawyers, gender equality advocates, former diplomats, UN representatives, and humanitarians. It includes the famous U.S. women's rights advocate Gloria Steinem, and Mairead Maguire and Leymah Gbowee, both Nobel Peace Prize Laureates for their work in ending civil conflicts in Northern Ireland and Liberia respectively.

    Our goal is to call attention to the unresolved issues between North and South Korea that have led to provocative annual U.S.-South Korea military exercises, North Korea's nuclear weapons program and a rampant arms race in Northeast Asia. A Peace Accord would begin the process of reconciliation on the peninsula, which would include the reunification of millions of Korean families. A former U.S. ambassador to South Korea James Laney stated, "A peace treaty would provide a baseline for relationships, eliminating the questioning of the other's legitimacy and its right to exist. Absent such a peace treaty, every dispute presents afresh the question of the other side's legitimacy."

    Women have historically been influential in ending seemingly intractable conflicts. Women were key to facilitating the peace process after decades of fighting in Northern Ireland. Women brought the warring parties of the Second Liberian Civil War to the negotiating table, ending years of bloodshed Liberia. And now, women are putting a global spotlight on Korea.

    "We need symbolic acts that capture the world's attention and help shift all the major players in the direction of negotiations," says writer and Korea expert John Feffer. "It's mostly men -- men from politics, men from business, men on both sides of the DMZ -- who have been dealing with the Korean peninsula issue over the years. And we men haven't achieved very much. So, let's see what this brave band of women can do."

    This brave band of women is forging a path we hope others will follow. If President Obama would add Korea to his administration's ongoing initiatives on Iran and Cuba, this axis of diplomacy could become his most lasting legacy.

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