Single Gulf currency by 2010

[arh777]

Single Gulf currency by 2010 -- Sheikh Salem Al-Sabah

ECO-SAUDI-KUWAIT-SHEIKH SALEM
Single Gulf currency by 2010 -- Sheikh Salem Al-Sabah

RIYADH, May 17 (KUNA) -- Governor of Central Bank of Kuwait (CBK), Sheikh Salem Abdulaziz Al-Sabah, Said on Tuesday that Gulf financial institutions have been coordinating and cooperating to establish a financial union and to issue a single Gulf currency by the beginning of 2010

http://www.kuna.net.kw/home/Story.aspx?Language=en&DSNO=733793

[RET]

http://www.investorsiraq.com/showpost.php?p=57552&postcount=1

another article .. not about currency but about the GCC. Could this possibly affect the currency (and date?). I dunno.

http://rds.yahoo.com/S=53720272/K=GCC/v=2/SID=e/l=NSR/R=1/SIG=130h7fd5p/EXP=1116449021/*-http%3A//news.yahoo.com/news?tmpl=story&u=/nm/20050517/lf_nm/gulf_strains_dc_1

[drtymnky]

15 May 2005: The man who founded an Islamic extremist group linked to Al Qaeda, who has advocated the use of an Islamic Gold Dinar as a common currency between Islamic governments, and eventually between all countries, and who has recommended that oil be traded with the Euro instead of the dollar will be speaking at a banquet in the US this weekend.


http://www.homelandsecurityus.com/default.asp

:rolleye03

[Sandman]

15 May 2005: The man who founded an Islamic extremist group linked to Al Qaeda, who has advocated the use of an Islamic Gold Dinar as a common currency between Islamic governments, and eventually between all countries, and who has recommended that oil be traded with the Euro instead of the dollar will be speaking at a banquet in the US this weekend.


http://www.homelandsecurityus.com/default.asp

:rolleye03

What the Hell. Where is an unmanned drone when you need one.

[drtymnky]

What the Hell. Where is an unmanned drone when you need one.


BWWAAHAHAHAHAH!!!! :lmao:

[Sandman]

Pack your bags we're going on a guilt trip.


" ... In recent years Ibrahim’s public statements have shown a shift to a more moderate stance.He was recently honored as the “Muslim Democrat of the Year” by the Center for the Study of Islam and Democracy (CSID) and described as "a hero of our time" at CSID’s sixth annual conference on April 22, 2005, where he stated that each nation of the Muslim world must cultivate a domestic version of democracy. The Financial Times also quotes Ibrahim, saying that he would “like to play a role in Malaysia and the broader Southeast Asian region countering the rise of fanaticism, extremism and terrorism".

.... "

Sounds like he's going deep undercover to me.

[Runamuck]

What the Hell. Where is an unmanned drone when you need one.

LOL I love it!!

[Templecityboy]

The Financial Times also quotes Ibrahim, saying that he would “like to play a role in Malaysia and the broader Southeast Asian region countering the rise of fanaticism, extremism and terrorism".
I was just wondering how many people here think it's a good idea that the fanatics, extremist and terrorists take a more moderate stance away from their conservative agendas? Would this be good for the world as a whole and our dinar investment? Billrock what do you think?

[ralphg]

This article states the 6 Gulf nations involved in the GCC (Gulf Cooperation Council) and Iraq isn't one of them... how will the Unified currency effect Iraq?

http://www.cnn.com/2005/WORLD/meast/05/07/gulf.us.ap/

[Sandman]

Go to the GCC section and read the top most sticky. It will give a good overview of the GCC and Iraq's possible future place in it and what it would mean for the dinar.

[Tinydancer]

........gets coffee and sits down.....looks at her muffin....


..............did anyone ever hear, what the North Korean guy was visiting China for awhile back....a few days before his train ride home erupted in an explosion in North Korea....taking out all the tv coverage to North Korea..and all the phones.....and stuff...(actually I think he ordered all the coverage to be stopped)


...................maybe the North Korean guy was visiting China to get involved in ani-terror things.........maybe it has become posh to do this......with a time bomb in their back pockets...........

........................................that was so wrong....

[Dinaress]

This article states the 6 Gulf nations involved in the GCC (Gulf Cooperation Council) and Iraq isn't one of them... how will the Unified currency effect Iraq?

http://www.cnn.com/2005/WORLD/meast/05/07/gulf.us.ap/

IF all goes according to the plans--Iraq and Yemen will be included in the GCC in 2010.

[Templecityboy]

IF all goes according to the plans--Iraq and Yemen will be included in the GCC in 2010.
Not doubting you at all Dinaress, but here's a very complete pp presentation on this, and it doesn't mention Iraq. Do you have a link. I can't find anything mentioning Iraq. :)

http://europa.eu.int/comm/economy_finance/events/2003/athens0203/al_kaud.ppt

[Aequitas]

Dose any one know how they will calculate the value of the new curiency in 2010?

Take the average of the countries?

[H2OLover]

Dose any one know how they will calculate the value of the new curiency in 2010?

Take the average of the countries?
not counting Iraq ..it is very close to 1.50 I think but there has not been anything put out to it being an average

[Dinaress]

Not doubting you at all Dinaress, but here's a very complete pp presentation on this, and it doesn't mention Iraq. Do you have a link. I can't find anything mentioning Iraq. :)

http://europa.eu.int/comm/economy_finance/events/2003/athens0203/al_kaud.ppt

there are several articles floating out there--go to search engine and type in "Iraq and Yemen to join GCC"
the info i found was from the Gulf Research Center.

[BIG WAVE]

IF all goes according to the plans--Iraq and Yemen will be included in the GCC in 2010.

I like the idea of Iraq joining the GCC (Gulf Cooperation Council). Reading through past posts on IFF and T&B, the GCC could help Iraq now its its current state by:
http://www.gcc-sg.org/cooperation.html#coop5
Cooperation in security is multidimensional. It encompasses the fields of traffic, punishment and correction establishments, immigration and passports, airport security, anti-drug trafficking, anti-arms and explosives smuggling, border guards, coast guards, and civil defence. Specialised committees have been formed to strengthen cooperation in these fields. The most important achievement in this regard is the repeal of entry visas and residence permit requirements for the GCC citizens travelling to other GCC Member States.

GCC countries set up a customs union in 2003. They plan a common market by 2007 and a single currency by 2010.
http://www.bis.org/publ/bppdf/bispap17k.pdf
http://www.arabicnews.com/ansub/Daily/Day/050321/2005032123.html

Why or how I think this is relavent is; the GCC is made up of the richest countries in the world. Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates, Oman.

The GCC said they would welcome Iraq into their union. The general concensus seems to be that their will be a peg of the NID before this happens. Once the NID pegs it becomes one of the major players in the GCC and create more stability for the currency.

Article posted 2004, Iraq seeks GCC support against terrorism
http://washingtontimes.com/upi-breaking/20041220-065626-9905r.htm
At the time Jaafari was Iraqi Vice President.
Jaafari said Iraq wishes to join the GCC at a certain stage noting, however, "that the decision is in the hands of the Gulf countries."

...BIG WAVE

[BBbucks]

Ok - question for those of us holding physical dinars-
HYPOTHETICALLY - it is the year 2009 and the IQD is valued
at .42 per USD. When 2010 comes around & Iraq becomes
a GCC country- when the new GCC currency comes out
at say… .99…we should be able to go to a US bank that
trades in the IQD and either trade our IQD for the new GCC
bills & hold on to it hoping it will go to 1.50 OR can we
then cash it in for .99 per dollar? How did this work
for the Euro speculators? Anyone know? :rolleye03

BBbucks