Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Wayne
What if any chance do you see all this hold out regarding the Dinar due to that they are looking into joining Saudi's Kuwaiti's etc in forming new middle eastern currency. I've been reading around and there is few people talking about this. You know what they say, when it's quite it's bad. Just a thought trying to figure out who would benefit the most. Saudi is lower than the dollar but Kuwaiti us higher than the dollar. Wondering what they would do here. I know Kuwait doesn't want to lose value. Seems to me this would be the better deal for us, no?
Update: the CBI plans to cut the dinar and the date remains unknown
Source: Dow Jones
(Includes additional comments and details of the new)
By Hassan Hafez
Of the agency, "Dow Jones Newswires"
AMMAN (Dow Jones) - The Iraqi Central reduced the Iraqi dinar, but has not decided yet when daring to move, as reported by the bank in a statement issued the day Monday.
The statement added that the Central Bank underlines its commitment to its projects strategy, notably the removal of 3 zeros from the Iraqi dinar.
In spite of the technical and logistical preparations for the ongoing implementation of the project, but we have not set after the appropriate timing for implementation of the project," adding that the choice of time will not be tied exclusively to the economic, but also the security situation.
On the other hand, the appearance of the denominator, senior adviser in the Central, during a meeting with the agency, "Dow Jones Newswires" that the removal of three zeros will contribute to the upgrading of the value of the Iraqi dinar traded at 1.170 see dinars against the dollar during the day Monday.
In the event a decision was cut, means that the currency is currently valued at $ 25 thousand dinars will be 25 dinars, while the dollar will equal only 1.17 dinars.
The bank said that the removal of three zeros from the dinar, "will contribute to improving the management of currency and facilitate cash transactions," adding that the decision came as a result talks were held with the Economic Committee in the Iraqi government.
This often cuts neutral monetary terms, and depend to facilitate trade accounts and reduce cost. Turkey has embarked on, for example, removal of 6 zeros from the lira in 2005; just like Russia, which has the same step with regard to its currency.
He attributed the reasons for reducing the denominator of the Iraqi dinar to the efforts made by the bank to reduce the high inflation rate in the country. The Hui inflation to 6.1% in December 2009, this apostate, down from record levels reached 60% in late 2006.
In July 2004, the U.S. civil administrator in Iraq, a body that no longer exist today, printed currency as an alternative to the current that was carrying a picture of former Iraqi President Saddam Hussein. It is noteworthy that the Iraqis gave out 3 months to replace the old dinars in possession of the new dinar.
He pointed in the same context that the bank will be forced to print new banknotes in the event the project entered into force.
By Hassan Hafez
(END) Dow Jones Newswires
Copyright © 2008 Dow Jones & Company, Inc Copyright © 2008 Dow Jones & Company, Inc
http://translate.google.com/translate?hl=en&sl=ar&u=http://www.zawya.com/arabic/story.cfm/sidZDA20100315130021539/&ei=E1WeS_PeOIrKNbKs2YkF&sa=X&oi=translate&ct=result&resnum=3&ved=0CFMQ7gEwAg&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25B9%25D8%25B1%25D8%25A7%25D9%2582%25D9%2589%26hl%3Den%26client%3Dfirefox-a%26sa%3DG%26tbo%3D1%26rls%3Dorg.mozilla:en-US:official%26tbs%3Dqdr:d
machcobra's - I disagree, I think at this time they don't want to piss off their people but to gain trust in them. I also think they do not want to piss off Countries like ours that have helped them get through this mess and hold a large amount of dinar!
I also feel they have so much black gold and should I say EASY OIL that they can revalue way higher with no lop!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47824082
Ya!! I always go to these points, when I start thinking off
Points of Great Stride. Iraq's Dinar is doing great.
Iraq "IS 80+% Debt Free" ... WHY WOULD THEY LOP ...
Iraq's Dinar "WILL BE" Globally recognized as a Iraq’s Currency by the first Quarter of 2010 ... WHY WOULD THEY LOP ...
The bank spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. ... WHY WOULD THEY LOP ...
December 15th 2008, Iraq bought back 282.5 billion dinar ... WHY WOULD THEY LOP ...
Iraq became a SOVERIGN NATION on 1/1/09 Countries are forgiving BILLIONS of Iraq's debts ... Which will mean Iraq would be close to Debt Free with their NEW START ... 80+ percent reduction on sovereign debt ... WHY WOULD THEY LOP ...
Inflation went from 74% down to 14% 13.6% sinse last year ... A Major Plus ... WHY WOULD THEY LOP ...
The U.S. Federal Reserve (A Private Company) did in fact exchange 7.5 Trillion IQD for $5 Billion USD to accumulate $100 Million per year in Interest via U.S. Treasury Bills for Iraq. ... WHY WOULD THEY LOP ...
They have to buy 5 Oil Tankers - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
They have under contract to buy 5 new Jet Liners (10 - 787's) - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
They said in 2008 they are to revalue the currency, but they can not because they need to get through options ... they are looking to drop 3 zeros ... WHY WOULD THEY LOP ...
Inflation has also is the lowest in 17 Years
Kids are playing in the streets now.
and more, its worth your time ... later
IRD has increased in value since 2003. From 2000.00 to current 1170.00 ... WHY WOULD THEY LOP ...
IRD is the most secured currency in the world from fraud. ... WHY WOULD THEY LOP ...
IRD is new, and the only currency in Iraq ... WHY WOULD THEY LOP ...
More about the Zeros announced today...
"Novel Event" is majorly correct ...
We are a witness and apart of HISTORY here. We will be asked from many what happened because we are so close to the details. W have invested into something that will never happen again to this degree. So yes "Novel Event" is a good description of it.
That is from the Iraqi Government.
Rate for contracts $1.13 official rate $3.20
This official study done by the Iraqi Ministry of Planning says the official exchange rate for the Iraqi Dinar is $3.20 but calls for the use of a lower rate as per this study and that lower rate is $1.13
You will see that this rate came from the Iraqi Ministry of Planning!
This came right from the Government of Iraq and this most recent study presented here was from October 2009 and is the second one I have seen presented in 3 years.
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.
=================================================================
Ministry of Planning government of Iraq
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.
http://www.mop-iraq.org/mopdc/index.jsp?sid=1&id=308&pid=295
What is your point with this?
You can also add Iranian Rial, IRR, and it shows numbers too.
FXCM - has numbers on it now
on the EUR/USD and say Add
Then type in IQD, then hit Search
then Highlight the two when they come up and tell it to add
http://www.netdania.com/Products/live-streaming-currency-rates-foreign-exchange/real-time-quotes/QuoteList.aspx?m=q#
let the other board know
Sorry Wayne had to tend to my Geckos, mating season you know. I followed your instructions and I did see it. 1145.60.
I see it... how long has it not been showing?
DO YOU SEE IT
Right Click on the ip EUR/USD and say Add
Then type in IQD, then hit Search
then Highlight the two when they come up and tell it to add
Where Wayne I didn't see it?
Well, I'll say I'm in this with all of you but alot of the posts seem to be trying to back up and support YOUR thoughts rather than displaying possibilities of whats going to happen, All this crap you heard and read over the years from the Iraq Gov't and their advisors etc. etc. means squat. They have been going back and forth for years and it seems your posts are trying to convince whoever on your beliefs of what is to come.
Just a bit too unrealistic but let me gather my thoughts and get out of my NORMAL BOX of thinking.
Honestly I think I'm just blowing wind here and wasting my f time. (thats posting, not with the dinar I'm holding)
Bud the CBI has told us themselves that they will remove the three zero's. I am mearly giving you something to think about in the area of not being the norm. We do not know what the norm is. Besides, the IMF cam also have creative financing. There is absolutly nothing wrong with that. You need to listen to youeself and step out of that box bud.
What I'm missing,... do you see what you are posting? Read it back to yourself. I'm not thinking the same old way, I'm thinking logically.
Normal way of funding not what they are doing.
Creative here and different way of financing.
Behind the scenes and have udes instead.
We must step out of the NORMAL BOX.
What, do you work for (old) countrywide, or fanny or mac or AIG, jeeze thats what broke this countries back dude. You think they are just doing what the heck they want and fraudulent this and that, historicle type of financing.. And doing this all under the guidance of the US, IMF, WTO, United Nations etc. come on wayne this is jibberish.
Besides we don't know exactly for sure, what investments were made except just from the media, and besides-once again, those big dog investments were very smart and IMO probably acting as hedges against the dollar with a thriving young up coming economy which is VERY smart, and to add on that even if they do lop or whatever they do, the value DOESN"T change at the worst case. And all that money gaining interest in the meantime... Gov't still makes a ton of cash so your lop theory there means squat.
Besides, I was asking to PROVE ME WRONG, not give an opinion.
and what your missing is the normal way of funfing a deal IS NOT what they are doing. They have got createive here and are using their advantage to starting a new Country with a different way of financing. On paper they have debt forgiveness but behind the scenes on computers they have data that is udes in stead. You can not think the same old way here. NOTHING is as done this way before. No one here knows the deal that was made behind the scenes.
Look sparkplug, Our own Government is not going to buy all that Dinar to get it LOP'ed, it aint gona happen. Trump has bought in at 30M. If they do show a debt, then its Interest Free to them selves. They could set one oil well aside to bring it up.
Guys ALL HERE must step out of the "NORMAL BOX" to see that other avenue because it is NOT THE NORM!!!
This is MAJORLY Creative Financing, and is not normal.
We are a witness to something that has Never been done before AT ALL so take off the normal colored glasses guys
Wayne, respectfully I agree with your enthusiasm, and from all my posts u know I want to make money on this too, BUT, read yourself here:
Iraq "IS 80+% Debt Free" ... WHY WOULD THEY LOP ...SO! Iraq will work Majorly Hard to get their debt reduced and creat a deal with those other Countries and then make those other countries turn in their money "to replace it" because of they LOPED... If I was running a Country that would PISS ME OFF and would cause WAR...
You don't make a lick of sense here, you are acting like they are thinking of DE-valuing the cashola, my god, It doesn't matter how this thing goes as far as lop or no lop. If its revalued and not increased then the value is going to remain the same at least. If they revalue and raise it a bit its a plus. What arent you getting here! Seem like a pretty sharp guy, ....
If they have 50 bil. in debt then thats what they have. If they revalue their money and it goes to 1:1 then guess what,they have 50 bil in debt. If the rate was 1170 and now its $9.36 per dinar, guess freakin what- they have 50 bil in debt. They pay it off as time goes at the current rate. If anything probably help things with other countries, Not going to cause wars! You get what I'm sayin?
Whats your email address?
Guys, this IS Business ... It would not do well for IRAQ's Business to alow all those Countries to give them debt free status and then turn and cause a LOP for all those countries, making them turn in their money just to replace it.
Cause Remember one thing ... There can only be ONE VALUE on their money.
Aero, you try and put off this presona that you are knowledgable in this area. Yet you have nothing but tunnel vision combined with an attitude backed by a little bit of knowledge. The proof is in what and the way you speak to others. Its not about if you are correct or we are correct, its about the facts and the people of Iraq. The CBI has said what they are looking to do yet you are telling all you know better then the CBI, lolo
My thoughts since 2005, I ask this board to seriously think about what I am saying here and prove it wrong!!!
I agree with you 100% ...
Points of Great Stride. Iraq's Dinar is doing great.
Iraq "IS 80+% Debt Free" ... WHY WOULD THEY LOP ...SO! Iraq will work Majorly Hard to get their debt reduced and creat a deal with those other Countries and then make those other countries turn in their money "to replace it" because of they LOPED... If I was running a Country that would PISS ME OFF and would cause WAR...
Iraq's Dinar "WILL BE" Globally recognized as a Iraq’s Currency by the first Quarter of 2010 ... WHY WOULD THEY LOP ...
So! Iraq will just become Globle and cause great excitment in the world of their piers and then they will LOP and tell them they have to replace moneys because of their bad timing
The bank spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. ... WHY WOULD THEY LOP ...
AGAIN!!! - So! they are going to spend ALL THAT MONEY to do a buy back when they knew they were going to LOP... ALSO this will be calling Mudher M. Salih Kasim SUPID ... because they knew back then how they were going to do this ...
December 15th 2008, Iraq bought back 282.5 billion dinar ... WHY WOULD THEY LOP ...
AGAIN!!! - So! they are going to spend ALL THAT MONEY to do a buy back when they knew they were going to LOP ... ALSO this will be calling Mudher M. Salih Kasim SUPID ... because they knoew back then how they were going to do this ...
Iraq became a SOVERIGN NATION on 1/1/09 ... WHY WOULD THEY LOP ...
Countries are forgiving BILLIONS of Iraq's debts ... Which will mean Iraq would be close to Debt Free with their NEW START ... 80+ percent reduction on sovereign debt% sinse last year ... A Major Plus ... WHY WOULD THEY LOP ...
SO! Iraq will work Majorly Hard to get their debt reduced and creat a deal with those other Countries and then make those other countries turn in their money "to replace it" because of they LOPED... If I was running a Country that would PISS ME OFF and would cause WAR...
The U.S. Federal Reserve (A Private US Company) did in fact exchange 7.5 Trillion IQD for $5 Billion USD to accumulate $100 Million per year in Interest via U.S. Treasury Bills for Iraq. ... WHY WOULD THEY LOP ...
...
SO! lets see our own Country Buy into a LOP ... ARE THEY THAT STUPID, Aero!!!
They have to buy 5 Oil Tankers - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
so they are going to devalue their money and screw themselves ...YA!
They have under contract to buy 5 new Jet Liners - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
so they are going to devalue their money and srew themselves ...YA!
They said in 2008 they are to revalue the currency, but they can not because they need to get through options ... they are looking to drop 3 zeros ... WHY WOULD THEY LOP ...
Inflation has also is the lowest in 17 Years ... WHY WOULD THEY LOP ...
Kids are playing in the streets now.
and more, its worth your time ... later
IRD has increased in value since 2003. From 2000.00 to current 1170.00
IRD is the most secured currency in the world from fraud. ... WHY WOULD THEY LOP ...
IRD is new, and the only currency in Iraq ... WHY WOULD THEY LOP ...
What will happen if they don’t lop.
If they don’t go through with the lop plan… they will just wait and do it later. It will eventually lop.
If they don’t lop, expect the exchange rate to get worse… yes WORSE. All these articles that have come out where economist and others are against the lop, they don’t think the economy is ready for it yet. They are against the currency auctions. Iraq has been using tons of dollars to buy back dinars to keep the money supply in check to keep the exchange rate where it is. That has been at the expense of the economy. These people want Iraq to loosen monetary policy… allow banks to lend a lot more money, allow more dinar into the market to spur the economy. They want those dollars to be spent on the economy instead of buying back dinar. That would be good for the economy, but it will cause the dinar to loose value.
I agree with you 100% ...
Points of Great Stride. Iraq's Dinar is doing great.
Iraq "IS 80+% Debt Free" ... WHY WOULD THEY LOP ...
Iraq's Dinar "WILL BE" Globally recognized as a Iraq’s Currency by the first Quarter of 2010 ... WHY WOULD THEY LOP ...
The bank spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. ... WHY WOULD THEY LOP ...
December 15th 2008, Iraq bought back 282.5 billion dinar ... WHY WOULD THEY LOP ...
Iraq became a SOVERIGN NATION on 1/1/09 ... WHY WOULD THEY LOP ...
Countries are forgiving BILLIONS of Iraq's debts ... Which will mean Iraq would be close to Debt Free with their NEW START ... 80+ percent reduction on sovereign debt% sinse last year ... A Major Plus ... WHY WOULD THEY LOP ...
The U.S. Federal Reserve (A Private Company) did in fact exchange 7.5 Trillion IQD for $5 Billion USD to accumulate $100 Million per year in Interest via U.S. Treasury Bills for Iraq. ... WHY WOULD THEY LOP ...
They have to buy 5 Oil Tankers - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
They have under contract to buy 5 new Jet Liners - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
They said in 2008 they are to revalue the currency, but they can not because they need to get through options ... they are looking to drop 3 zeros ... WHY WOULD THEY LOP ...
Inflation has also is the lowest in 17 Years ... WHY WOULD THEY LOP ...
Kids are playing in the streets now.
and more, its worth your time ... later
IRD has increased in value since 2003. From 2000.00 to current 1170.00
IRD is the most secured currency in the world from fraud. ... WHY WOULD THEY LOP ...
IRD is new, and the only currency in Iraq ... WHY WOULD THEY LOP ...
Can you get me picture of the 100 NID please, thx.
Funny… you’ve been calling this a “novel event” where people would see a 100,000% increase in their investment. Now you find this where they say they might not do it…. And suddenly you call it a lop???? Which is it?
Sparky is right, all this is saying is that the CBI hasn’t OFFICIALLY announced anything yet. But all of the other remove 3 zeros articles are quoting CBI officials and advisors.
ema-266, So in the nutshell, they are stating that NO formal decision has been made yet, and won't until after the election process is over and their new political process is in motion with all the new leaders. They might get it done by the end of the year! lol
No LOP! CBI denies lifting of the zeroes of the Iraqi currency
Conscious / Office of Karbala / T.. A
13/3/2010 7:46pm
Deputy central bank governor denies lifting of the zeroes of the Iraqi currency
Denied, deputy governor of Central Bank of Iraq Ahmed Bureihi a formal decision about deleting three zeros from the Iraqi currency has also picked up some of the media.
The Bureihi a seminar held by the University of Karbala today and was attended by correspondent (News Agency, Iraqi Information / conscious) that ...
~"the CBI has so far not issued any formal decision to delete the three zeroes of the Iraqi currency traded in the markets,
he did not start until the law to delete the zeros," adding that
"the issuance of such a decision on how the political process and the country's administrative.
As well as the request to the operations of Contracts and contracting, which is still not completed its consequent processes of paying money to the companies that started its work since ...
~the contracts were signed according to some of them on the basis of the Iraqi currency,
"adding that" what some media about the deletion of zeros untrue. "
http://translate.googleusercontent.com/translate_c?
hl=en&sl=ar&tl=en&u=http://al-iraqnews.net/new/mhafadat/58382.html&rurl=translate.google.com&twu=1&usg=ALkJrhhGNl_tUZzcr3UkWUXskz-8DwNhBA
http://articlesofinterest-kelley.blogspot.com/2010/03/deputy-central-bank-governor-denies.html
The two coins are in circulation and as far as removing zero's on the 100 and 50 NID I can't predict what Iraq is going to do, me guessing would not benefit anyone.
It's a gamble which way anyone decides to play the NID but as a play I have bundles of the 50 notes just in case, of course they come at a premium price but if it plays out that way it will be money well spent.
I started selling some of my bundles of 50 NID notes due to needing some extra cash and I'll have to say they went very fast all 600,000 worth so maybe some people know something I don't.
Holding 8,000,000 NID
Come On Dinars!
Peace
its coded Aero, It has to be
Aero
Sorry for a late response as a non-member I guess I cannot post more than 15 times. So I started up a Yahoo message board.
http://messages.finance.yahoo.com/Currencies_%28A_to_Z%29/Currencies_I/forumview?bn=97600
for any non-members.
Anyway, yes 10k to 30k increase, I can see that happening. I think if the CBI continues their buyback at the rate they have it's very possible. Something I'm looking into is that I've now bought 2 blocks of 500k Dinar. The first I requested all 50's, the second I just placed the order and it came in 25k notes. A co-worker of my wife ordered 50k Dinar and they sent it in 5x10000. I have been hearing rumors that 25k notes are getting scarce. My wife works at Fifth Third bank, one of only 2 US banks you can buy and sell Dinar at right now. She did tell me she found out they buy it from a vendor. So each time I got 500k Dinar for 534.00 US. Have you heard anything about the 25k notes getting limited?
LOL... are you sure this was meant for me?
I know that your hopes are still up but that is not the way things are going to happen. I to would very much like to make the big money I have 4Mil my self. It was the only way I would ever be able to retire. I am going to be 60 this year. I now will have to work untill I drope over.. You must face the fact that 25K will only be 25 dinar no more then that.. I do not like it, it is just the way it is.. You should not try to keep up the hopes of others, why help the dealer sale more.. they have made to much now...
Botat... 10 cents would be a 10,000% increase, 30 cents is a 30,000% increase. You don't consider that huge?
Iraq has announced a Redenomination and a removal of 3 zeros. That is a lop.
Unless they change that plan, that's what will happen.
Flip13, I may be wrong but I will say no, the closest comparison that all have used is Kuwait and when I was boots on the ground in Aug. 90 bad a s s saddam robbed the Kuwaiti bank of a bunch of their money and subsequently wasn't honored by serial number and street value fell to an astronomically low value of like .10 or .20 or something like that -cant remember as the mission was taking body count of republican guard and after all that, the kuwait dinar value came right back close to where it was. Not many if any had a chance to call that one within the time frame for investment purposes and make a ton.
Botat, if ya don't mind me buttin in, but "Though I agree there will be a LOP, but not to the degree that you believe." you said... and what would that be? Most do the number of zeros on their current currency..?? What degree of lop you think they would be into? Sooo... a 1 zero lop, 2 zero lop. If the CBI decides to lop the only lop that will happen (IMO) will be 3 zeros, how could any other decision help them if they go that route. I'm not saying or agreeing but really-a parcial lop, its silly don't you think.
all good stuff boys.curious, has any country ever rv. dolllar for dollar at such an exchange rate as we see right now in iraq 1187 to 1. and if so who and when.
Botat - 100% Ask yourself this ...
Points of Great Stride. Iraq's Dinar is doing great.
Iraq "IS 80+% Debt Free" ... WHY WOULD THEY LOP ...
Iraq's Dinar "WILL BE" Globally recognized as a Iraq’s Currency by the first Quarter of 2010 ... WHY WOULD THEY LOP ...
The bank spends $1 billion to $1.5 billion every month in oil revenue to buy Iraqi dinars on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. ... WHY WOULD THEY LOP ...
December 15th 2008, Iraq bought back 282.5 billion dinar ... WHY WOULD THEY LOP ...
Iraq became a SOVERIGN NATION on 1/1/09 ... WHY WOULD THEY LOP ...
Countries are forgiving BILLIONS of Iraq's debts ... Which will mean Iraq would be close to Debt Free with their NEW START ... 80+ percent reduction on sovereign debt ... WHY WOULD THEY LOP ...
Inflation went from 74% down to 14% 13.6% sinse last year ... A Major Plus ... WHY WOULD THEY LOP ...
The U.S. Federal Reserve (A Private Company) did in fact exchange 7.5 Trillion IQD for $5 Billion USD to accumulate $100 Million per year in Interest via U.S. Treasury Bills for Iraq. ... WHY WOULD THEY LOP ...
They have to buy 5 Oil Tankers - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
They have under contract to buy 5 new Jet Liners - How would they buy them at their current Dinar Value ? ? ? ...... Revalue ... WHY WOULD THEY LOP ...
They said in 2008 they are to revalue the currency, but they can not because they need to get through options ... they are looking to drop 3 zeros ... WHY WOULD THEY LOP ...
Inflation has also is the lowest in 17 Years ... WHY WOULD THEY LOP ...
Kids are playing in the streets now.
and more, its worth your time ... later
IRD has increased in value since 2003. From 2000.00 to current 1170.00
IRD is the most secured currency in the world from fraud. ... WHY WOULD THEY LOP ...
IRD is new, and the only currency in Iraq ... WHY WOULD THEY LOP ...
Aero I understand what you are saying, but unlike many I don't see a huge revalue. Somewhere between .10 and .29 intially. They will tie in the removal of the 0's but have both currencies at the same time. The timeframe for the old notes to be turned in, I don't know. What I do know is weak hands will turn their IQD as soon as first revalue is done. Things will settle and then we will see gradual increases. This is when the heavy hitters will start to cash in. This is just my opinion. A LOP, in your opinion is what will happen. Though I agree there will be a LOP, but not to the degree that you believe. Last time I checked neither you or me was in control of the CBI so it's still anyones guess. LOL, and GLTY if you hold any.
Botat… I’m afraid what is not being understood here is this.
You do not understand the meaning of “Redenomination and remove 3 zeros”.
There are a lot of people with a vested interest to keep you and others confused so you will continue to hold and buy dinar. But without a doubt, 100% sure, this is a lop.
They will have new bills and coins… the exchange will be 1000 old for 1 new.
Bank accounts will lop also.
That will reduce the M2 from 45 Trillion to 45 Billion.
And currency in circ from 22 Trillion to 22 Billion.
Try paying for either with dinars.
The fact that they own 10% or more of the world oil reserves and a huge supply of natural gas.
Yes... there are countries out there that have totally given up on their own currency and only use the US dollar. there are many many other countries that use it in addition to their currency.
http://en.wikipedia.org/wiki/Dollarization
There are only a few currencies that are used like this. What makes you think that Iraq... with no economy except for Oil which is sold for dollars... what's going to make people around the world want to hold dinar?
Followers
|
26
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
607
|
Created
|
05/02/07
|
Type
|
Free
|
Moderators |
Talk about your RUMORS here on this board. We all know there are a TON of them out there. Just feel free to share them with the world on this board. ALL RUMORS are welcome!
NEWS ARTICLES - IRAQ:
Points of Great Stride. Iraq's Dinar is doing great.
Iraq's Dinar "WILL BE" Globally recognized as a Iraq’s Currency by the first Quarter of 2010 ... WHY WOULD THEY LOP ...
(#1 Above) ... Debt Forgiveness ... Countries that have Forgiven Iraq's Debt
NEWS ARTICLES, Catagorized - IRAQ:
Iraq's - Debt Forgiveness : http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943765
Iraq's - Oil, Gas News: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943755
Iraq's - Banking News: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943708
Iraq's - Inflation, Economy: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943784
Iraq's - Positive Stories: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35943808
Iraq's - Negative Articles, Fraud Cases: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34465158
Iraq's - Air Ports: http://www.airiraqco.com/index.htm
Iraq's - Utilities, Power and Water: http://www.reuters.com/article/marketsNews/idUSL524628320090105
Iraq's - Posts to remember: http://en.aswataliraq.info/
US Banks that will exchange Iraq's Dinar
- Chase Bank / Bank of America / TD Bank / HSBC / CITI Bank / Wells Fargo (selected branches) / Compass Bank / 5th 3rd Bank / Regions
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |