Kuwait was a total different situation, not really comparable.
Kuwait dropped the value of their currency because Saddam looted their bank and made off with vast amounts of it. To remedy this problem they dropped the value, locked the borders and changed the currency then reopened the borders leaving Saddam with a bunch of worthless currency.
Folks also must keep in mind when the NID was introduced the rates that was exchanged.....10 to 1 for Saddam dinar and 3 to 1 for the "swiss" dinar.......now we're expected to believe that the CBI managed inflation rates under IMF guidelines for almost 6 years for them to lop the currency again?......I don't believe that for a second.
Don't really need to because it was basic speculation in this message thread back when Ema & Strong were close. We all figured that Iraq would be wise (providing they do reval) to reval in stages simply because most holding dinar would jump at a .03 USD conversion rate. Then a month or so later they move the reval conversion up to .10 the later to .40 so on and so on which again will enable Iraq to pay out far less US Dollars to get back (cheaply) their IQ Dinar currency. A smart and common sense move that would save them from giving away massive bilions and billions of dollars. One had better believe they would be that smart or possibly not reval at all and force a slow grow which all of us would hate to see but many have been here a whicl and it seems already like a super super slow grow hardly moving.
If Iraq misses the points as said above (which I doubt) it will be their loss and our gain but don't see them as being stupid however, I do see them doing all they can to stop us typical investors from cashing in on their dinar currency. I just feel that Iraq will do what they can to keep our hands away from grabing thousands and in most our cases millions and millions of US dollars of conversion monies.
Place yourself as the government controlled sources of the Iraqi government and what would you do? Would you give it all away? specially to outsiders? I mean they don't give much to their own and here we are with massive millions of dinar waiting for that pay day. I don't feel they will make it easy for us but we will see and hope like hell!
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