Categorized | Investment

Iraqi Dinars “One of the Most Foolhardy Investments you can Make”

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A local newspaper in Georgia, USA, reports that some local residents are buying Iraqi dinars in cash form, in the hope of profiting from a revaluation of the currency.

According to the Moultrie Observer, people are buying boxes of crisp Iraqi dinars that look fresh off the printing press. It goes on to quote a local commodities trader as saying he could possibly think of worse investments than Iraqi money at this time, but would be hard pressed to do so:

If you want to make a wild investment, I’d buy Russian rubles … It (the dinar) would be one of the most foolhardy investments you can make.

Meanwhile, CNBC columnist Kelley Holland says the dinar is the subject of a variety of scams, and regulators and watchdogs are sounding alarms:

If someone has been telling you about the rosy prospects for the dinar, please, please, be careful. It’s almost certainly too good a story to be true.”

On Thursday, Komo News in Seattle, Washington, ran a news report on the dinar and interviewed one woman who had actually bought what she believes to be Iraqi dinars on the internet. You can find the full video report on the next page …

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651 Responses to “Iraqi Dinars “One of the Most Foolhardy Investments you can Make””

  1. Doc says:

    But yall are being expose to others.That’s my purpose.

  2. Dr. R. Keiferland says:

    Missed this one:-

    Doc – “how do you really know what the Us has negogiated” [reference to oil]

    Because they openly state how much they pay for oil per country from here:- (monthly since 2010 and annually since 1985…)

    “Dollars per Barrel imported Crude oil – March 2012 = $118 per barrel “includes Bahrain, Iran, Iraq, Kuwait, Saudi arabia & UAE”).
    http://www.eia.gov/petroleum/marketing/monthly/pdf/pmmtab21.pdf

  3. Dr. R. Keiferland says:

    …And they openly state how much oil is imported per country from here:-
    http://www.eia.gov/petroleum/supply/monthly/pdf/table53.pdf

    You do understand that Iraq is part of OPEC right? Their prices are the same as Kuwait’s, Iran’s, etc, – only the quota’s they’re allowed to sell change. There is no “negotiation secret”. It’s yet another absurd manufactured “I have a secret” fantasy by pumpers who’ve developed a cult following out of pretending to be secret agents. The only thing relating to oil that’s been negotiated is the service fee that Western oil companies take a cut (of about $1.50) per barrel sold in exchange for exploring and preparing Iraq’s oil fields. Iraq doesn’t sell oil at any price other than OPEC’s declared price of which Iraq is a member country. And the price difference bewteen Iraq’s imported oil and Mexico, Colombia & Venezuela’s imported oil is less than 1%.

    There is no secret – and oil does not back the Dinar as it is a fiat currency Anyone who claims “oil will back the RV” has absolutely no idea what they are talking about, what a fiat currency is or how they are valued.

  4. kev says:

    doc: “You guys aren’t making sense and that’s a fact.Right now a tenth of a penny is what 1 dinar is worth a tenth of a penny.Now if they revalue and who knows what that really is?But I have reall currency that I paid for with real money.And if I cash it in right now it’s still will return me the majority of my money.”
    -

    They are making sense you just don’t understand them! Stop thinking about “you, you, you” and look at the big picture (international trade) after your claimed RV. Look at the example of the Jordanian businessman -

    http://www.iraq-businessnews.com/2011/11/11/iraqi-dinars-one-of-the-most-foolhardy-investments-you-can-make/comment-page-11/#comment-104727

    Makes sense to me doc. RV means = If Iraq sells something for 1k Dinar and they RV it’ll still be 1k dinar inside iraq. But since dinar wil be 1:1 vs the $, it’ll be 1,000 more expensive outside Iraq (take $1k dollars to buy instead of $1). The USA will LOSE big-time when importing future Iraqi goods, not win! It’ll now cost $1k instead of $1! Not only do the maths add up properly with a redenomination, it’s actually in our interest as prices of Iraqs imports won’t go up at all.

    You just don’t understand what we are saying. It’s so obvious.

  5. Doc says:

    Lol Ali and others know how foolish u fellows are.But u fellows don’t care.Becuz this is whou are.Jordanian businessman and wheat.Lol Now take your same example and use the sam.e. fivures with their money right now and see can u buy that same wheat.lolsmart guys.

  6. Doc says:

    No value to there currency right now.Lets deal with there currency right now which is a tenth of a penny.How much wheat can they buy DrR

  7. Dr. R. Keiferland says:

    Doc – “Dr R K let me see sir 1 dollar sir and 1000 dinars would be equv.to $1000 dollars”

    Right, so after all this time, you FINALLY admit that it will cost the entire planet 1,000x more to purchase all exported Iraqi goods which would destroy Iraq’s economy. Thank you!

    Doc – It’s not 1000 times 1 it’s 1-1 sir if after it revalues and it’s valued at 1 to 1 sir that’s what it is.How hard can they be.A infant can understand that..Dr R K If someone wanted to go and exchange for it and took a 500 note they would get what

    Good God man, are you really that thick? I’m not talking about endlessly swapping banknotes for banknotes, I’m talking about how much more exported Iraqi PRODUCTS will become to non-Iraqi’s because as you FINALLY admit yourself, after your claimed “RV”, non-Iraqi’s will need to pay 1,000x more in their local currency’s to purchase the same amount of Dinar to import Iraqi products if the Dinar appreciates vs their local currency by a factor of 1,000x!

  8. Dr. R. Keiferland says:

    Doc – “No value to there currency right now.Lets deal with there currency right now which is a tenth of a penny.How much wheat can they buy DrR”

    What the hell? He asked YOU that question!! Is there something wrong with you?

  9. Dr. R. Keiferland says:

    “Jordanian businessman and wheat.Lol Now take your same example and use the sam.e. fivures with their money right now and see can u buy that same wheat.lolsmart guys.”

    Of course they can buy the same BEFORE your claimed “RV”, but they won’t AFTERWARDS – that was the whole point of the example!!

    Now you’re saying “the RV is true because if there were no RV the maths would add up”…

    You really haven’t a clue what either we or yourself are talking about do you?

  10. Doc says:

    IM talking abt right now.U are very evasive sir.

  11. Dr. R. Keiferland says:

    “IM talking abt right now.U are very evasive sir.”

    ROFL!!!!! Now you’re saying “the RV is true because if there were no RV the maths would add up”…

    You’re not saying anything at all. How can I be “evasive” over MY point TO YOU!!!

    You’re now arguing the same thing I am!!!! The maths only add up WITHOUT an RV!!!

    Good God man, you’re now into the realms of self-parody…

  12. John Richardson says:

    Doc – “Ali and others know how foolish u fellows are.”

    LOL. So I’m supposed to feel embarrased that a guy shut down for Dinar related fraud by the Securities Commission calls me a “fool”. That’s actually quite a huge compliment…

  13. kev says:

    D: “No value to there currency right now.Lets deal with there currency right now which is a tenth of a penny.How much wheat can they buy DrR”

    That was Barry’s question to you! Are you agreeing with Barry now?!? You are tying yourself up in knots with confusion. By saying the maths work out only before the RV, your actually admitting that the RV maths are bogus! I don’t think you even know what ur saying.

  14. Barry says:

    “STEW those numbers u r talking about are inflated.Making up numbers,name calling,never answer the questions when ask.Great tactics but it won’t work.Your opinion of the money supply can’t be validated.”

    His numbers aren’t “inflated” – you’re just too frightened of the truth. Of course it can be validated – and already has – THREE times now. You just don’t want to believe it as it shatters the absurd “million dollars for nothing fantasy”!

    Kuwait has 1199.5m (1.2bn) KWD’s banknotes in circulation (M0 from Kuwait’s central bank website). Iraq has 32 Trillion banknotes in circulation (M0 from Iraq’s central bank website).

    1 KWD = $3.56
    1 IQD = $.00085

    So there are $4.27 Billion of KWD banknotes circulating – and there are $27.2 Billion of IQD banknotes circulating.

    If you want M3 figures, Iraq has 72tn Dinars circulation (worth $61.5bn), and Kuwait has $28.892bn (billion not trillion) circulation ($102bn).

    It isn’t going to “jump up by 1,000x” because there is no missing value there to “correct”. Deal with it.

    You keep calling us “liars”. Right let’s throw the Gauntlet down: What are YOUR figures for both Iraq’s & Kuwait’s money supply – complete with a link to each ones central bank

    No ifs, no buts, no name-calling – if you think we (and both central banks are “liars”) then man up and post your own figures – and support them with links directly to each one’s central bank!

  15. Barry says:

    Doc – “No value to there currency right now.Lets deal with there currency right now which is a tenth of a penny.How much wheat can they buy DrR”

    LOL. This is pure comedy. Now you’re trying to make the same point to me that I made to you yesterday?…

    Here’s what you are saying Doc : “The RV maths don’t add up” and “The maths only add up WITHOUT an RV!”

    And you know what – I completely agree with that!

  16. Bob says:

    When I served in Iraq (1st Infantry Div), some people got well and truly sucked into this scam. Some of the talk is so convincing (especially in the earlier years before the recent TV broadcasts on the subject). The three mis-selling tactics are mostly the same though:-

    Guide to Dinar Pumpers:-

    1. Sell “The Enticement” – “You buy a thousand and get a million. For free.” Who doesn’t like the sound of that?

    2. Sell “The Secret”- “RV next week”, “I’ve got a source I can’t reveal that says…”, blah, blah, You’ve heard it all before. This mostly relies on confirmation bias (accepting it blindly simply because you want to believe it) and suspension of disbelief (that something as large as banknote changeover will be done ‘in secret’ and pop out of nowhere and that American Internet Radio hosts will know about it before Iraqi’s inside Iraq…)

    3. Sell “The Stage Props” – These are typically genuine facts that sound great but are irrelevant to the Dinar’s value. “Unemployment is down”, “oil production is up 2%”, “electricity supply more stable”, “fewer bombs”, etc. “Verify it yourself”. You do and think “we’ll he’s telling the truth about those, so he must be telling the truth about the rest”. This stage is more of a confidence trick.

    As said I’ve been to Iraq for more years than I’d like to remember. They have TV broadcasts on Alsumuria TV (their Arabic language TV channel) and they talk about the redenomination all the time – explaining how the prices will get lopped and how you will hand in 1,000 current notes and get 1 new note back but it will be worth 1,000x more. We have some very fluent Arabic to English translators and their consistent meaning is unmistakeable.

    Iraqi’s already know the truth – it’s American’s who’ve never been to Iraq that don’t…

  17. DOC says:

    Same point? Absolutely not,the point I’m making is that you are speculating the value of what it can’t be.Other words you and the rest of your buddies are adamant about there being 70.or 32 trillions dinar in the market.But you’re not taking in consideration how many aren’t being used or have been destroyed.If they were printed 8 to 10 yrs ago I GUARANTEE You it’s not that many around.Take in consideration that the Centrals Banks has a volume of currency,not just in a IRaq but around the world another thing that you good fellows will not admit is that their money supply just might over emphasis.

  18. DOC says:

    There’s only 7 billion ppl in the world sir.now you are stating that out of these 7 billion ppl how many are holding the dinar?Your calculation doesn’t make sense.Illogical.Use coming sense whatever you’re getting your numbers they are inflated.And don’t try to throw the CBI out there either.Just because they printed so many Tril as you say doesn’t mean they are in the market place active sir and you know that.LOL

  19. DOC says:

    Barry no that’s not what i’m saying sir.There you go trying to spin it.Now lets keep things in proper context.You see you guys don’t seem to want to anyone to believe this can RV,but you’re holding dinars and won’t even admit it.BARRYDR R do yall own any DINAR????????And if yall do why are you holding on to IT.OThers have ask this of yall and guess what yall refuse to answer.DO YALL HAVE ANY DINAR AND WHY?NOW LETS SEE WHO WILL BE HONEST AND WHO WILL LIE OR TELL THE TRUTH?????

  20. Barry says:

    Doc – “But you’re not taking in consideration how many aren’t being used or have been destroyed”

    That’s exactly what the M2 figure DOES take into account! In all countries! You didn’t even know that did you? And no I don’t own Dinar (as I explained 6 pages ago which you obviously ignored that too)

    Maybe I need to ask my question again, Doc?

    What are YOUR figures for both Iraq’s & Kuwait’s money supply – complete with a link to each ones central bank

  21. Barry says:

    Doc – You RV-ers are the ones claiming to “get rich quick” by being given $1m for $1k by matching the Dinar to the $ without a redenomination. And now you have to understand and explain the flip-side effect of that transaction – after a 1:1 “RV”, how much do you think people importing Iraqi products Dinars from the USA will have to pay in Dollars for their Dinars to pay for those products when you claim it will move from $0.00085 per Dinar to $0.85 per Dinar and imports / exports magically stay the same?…

    Now earlier, you were actually finally being honest and admitting that it will cost $1,000 to buy 1,000 Dinar after your theoretical post-”RV” (instead of just $1 pre-RV) if you changed up 1:1, so why can you not see that all Iraqi goods will be 1,000x more expensive too because post-RV BUYERS of Dinar will have to pay the same in Dollars as Dinar are priced? My children understand this too (ironically they did basic currency exchange it at school last week), and yet you do not?

    There are 4 ways a currency can change in value:-

    Appreciation – A natural rise in market value of a floating currency

    Depreciation – A natural fall in market value of a floating currency

    Revaluation – A peg adjustment of a fixed-exchange rate currency (usually upward, ie appreciation)

    Redenomination – Altering the face value of a currency without changing its international foreign exchange rate in a revenue neutral process to take out past inflation that has caused extra zeroes the presence of which causes loss of confidence.

    An upward “RV” is exactly the same as appreciation, the only difference is pegged vs floating currency exchange rate regime. Domestic prices DO NOT get adjusted on either appreciation or revaluation. Iraq’s internal prices for Iraqi products will no more change than American’s internal prices for American products built in America change for Americans when the $ moves vs the Euro / £, etc. They only change with a redenomination because it’s precisely the process of lopping 3 zeroes off banknotes & bank accounts, etc, that also lops 3 zeroes off prices of goods & services.

    You cannot “lop” prices without lopping the currency as (aside from being Communism where the state dictates the price of literally everything of private enterprises) that’s basically like the US Federal Reserve telling Dell who build laptops for $250 and sell for $499 to instead sell laptops for $0.49 to everyone to try and match the blatantly obvious 1,000x fold discrepancy you’ve just introduced… Every business in the country would be bankrupt overnight.

    I’ll repeat that – slowly – When currencies appreciate / RV (same thing) domestic prices of domestic goods do NOT get adjusted internally. Just like the when the USD fell to $2 (from $1.5) vs the £1, then rose slightly again, prices of non-British American-made goods weren’t changed by 25% inside America. An RV / appreciation WILL however, significantly affect the prices of exports (for the worse) and imports (for the better) for the country doing it. With depreciation / downward RV (which happens in fixed-rate regimes to stem domestic inflation caused by declaring a currency to be stronger than it actually is) – the reverse is true. A weaker currency makes exports cheaper for other countries to buy, but imports more expensive to buy other country’s goods. Why do you think export-oriented China pegs the Yuan LOWER than the $.

    What you are doing is basically claiming an Iraqi loaf of bread that currently costs 1,300 Dinar will NOT be redenominated / lopped to 1.3 Dinar, and the only change is the Dinar’s value will rise vs all other currencies. So if 1,300 Iraqi bread remains as such but you believe $1 = 1 Dinar, then by extension you believe the price of a loaf of Iraqi Bread will cost $1,300 when exported outside of Iraq at the same time as it retains its price tag which still has a n internal Iraqi equivalent current value of about $1.11…

    Now do you understand why the redenomination process exists and is a necessity? The Dinar may gradually appreciate a few percent over the space of years, but the 100,000% wealth increase “RV” is a total fantasy. It has never existed, never been promoted by Iraq, IMF, World Bank, SIGIR, Iraq’s parliament, economic and finance committee’s, etc, and never, ever used in any country on Earth because it simply isn’t a genuine economic process, never has been and never will be… The – maths – do – not – add – up. The “1,000x RV” does nothing but take a weak currency that’s already valued by the free-market to be that weak precisely because it’s overprinted, and peg it 1,000x abnormally higher than its market-value without reducing the M2 at all and then try and pretend that everything else stays the same regarding future trade. That isn’t even remotely close to the truth.

    I strongly suspect though no matter how I or anyone else rephrases it, that you simply don’t understand what we’re saying beyond “some guy is going to give me a million bucks for my $1k worth of Dinar because some other guy promised me it”… That you’re quoting my posts and demanding answers to the questions already given in the same post that ends up proving the exact polar opposite point to your own argument is proof of that.

  22. Dr. R. Keiferland says:

    Barry – “What you are doing is basically claiming an Iraqi loaf of bread that currently costs 1,300 Dinar will NOT be redenominated / lopped to 1.3 Dinar, and the only change is the Dinar’s value will rise vs all other currencies. So if 1,300 Iraqi bread remains as such but you believe $1 = 1 Dinar, then by extension you believe the price of a loaf of Iraqi Bread will cost $1,300 when exported outside of Iraq at the same time as it retains its price tag which still has a n internal Iraqi equivalent current value of about $1.11…”

    Bingo. Exactly what I was trying to explain to him…

  23. Doc says:

    Not necessary.Speculation,assuming,no facts,just a bunch of opinions.

  24. Doc says:

    I spoke with my private banker on yesterday who is also on the investment side as well of the bank.And he made it very clear how you guys throw numbers and equations around never using common sense.Becuzof this invest that may RV doesn’t mean your opinion infood will raise.And to continue to give a doom and gloom opinion is absolutely absurd.

  25. Barry says:

    Doc, If you cannot be honest about obvious verifiable facts like Iraq’s 72tn money supply shown very clearly on the CBI’s website (or Kuwait’s as shown on theirs) then you’re a lost cause and there’s zero point in continuing any attempt at lucid debate. Why you cannot grasp even very basic facts like if your currency appreciates vs another, you make your own exports more relatively expensive for foreigners to buy, I simply do not know. It is so very basic you don’t need any economics education – pretty much anyone going on vacation abroad and shopping around for the best rate for tourists notes “gets it” that different rates will leave you with different amounts of purchasing power at the other end. Your problem is either that you cannot intellectually understand it (in which case, fair enough) or one of wilful denial of the obvious out of being blinded by greed almost to the point of being a form of self-hypnotic suggestion oblivious to observable reality.

    All you have left is your stupid personal attacks “Ya’ll secretly hold Dinar”. How utterly senseless is that? If I held Dinar’s because I got sucked into the “RV” scam I wouldn’t be here debunking it would I? Even the “logic” behind your childish insults is completely back to front…

    Here is the simple truth. You can either accept it or keep running away from it out of ego, pride and fear:-

    Iraq’s M2 Money supply by Year since the invasion:-

    2004 = 12.25tn Dinars
    2005 = 14.68tn Dinars
    2006 = 21.08tn Dinars
    2007 = 26.95tn Dinars
    2008 = 34.92tn Dinars
    2009 = 45.44tn Dinars
    2010 = 60.26tn Dinars
    2011 = 65.11tn Dinars
    2012 = 72.02tn Dinars

    “M2 growth (YoY): Mar 2012 – 23.6%”
    http://www.cbi.iq/index.php?pid=Statistics

    Kuwait’s M0 money supply (banknotes only) is only 1.2 billion (yes, billion) KWD’s and their M2 (inc electronic money, bank deposits, etc) is 28.8bn KWD’s, which is why the KWD is so strong vs the $ and the IQD is so weak because it’s so overprinted – it truly is that simple.

    I’ve asked you twice now : What are YOUR figures for both Iraq’s & Kuwait’s money supply – complete with a link to each ones central bank and both times you’ve run away and tried to change the subject. Not surprised…

    In reality, there really is very little more to say other than what has been given. Repeatedly. Anyone new to the group can easily look back over the pages and see what’s what, and those already here know what’s what too, so there’s really no point in continuing to feed the same tired circular arguments of verifiable fact vs raging emotional denial, name-calling and desperation to get in the last word at any cost…

  26. Dr. R. Keiferland says:

    Doc, I’m getting very tired of explaining the same common sense thing over and over, but last time, just for you. If you ignore it this time, then that will be your psychological denial problem not mine:-

    If something in Iraq costs 117,000 Dinar ($100 current value at 1170:1), and it redenominates, then its price will have 3 zeroes lopped to 117 Dinar and be exchanged at 1.17:1. It will still cost $100 both domestic equivalent and international exported value. Internal and exported prices both match up with each other and the global market prices (as they should do or no-one would buy anything from Iraq). This what both Iraq and non-Iraqi’s who trade with Iraq WANT to happen.

    But if something in Iraq costs 117,000 Dinar ($100 current value). And it “revalues” 1:1 the way the pumpers are promoting (value up 1,170x everything else stays the same, no “lop”), then its price will remain 117,000 Dinar inside Iraq (due to no lop) and yet the new exchange rate will be 1:1. This means it will cost both $100 inside Iraq and $117,000 to export to non-Iraqi’s outside Iraq simultaneously. That’s so silly it defies belief people actually believe in it.

    - Even if Iraq “revalues” to 3:1 ($1 = 3 Dinars), you’re still arguing that non-Iraqi’s will pay $39,000 to buy 117,000 Dinar’s to import something that cost $100 to import yesterday and is still effectively $100 inside Iraq in current real $ terms.

    - Even if Iraq “revalues” to 10:1 ($1 = 10 Dinars), you’re still arguing that non-Iraqi’s will pay $11,700 to buy 117,000 Dinar’s to import something that cost $100 to import yesterday and is still effectively $100 inside Iraq in current real $ terms.

    - Even if Iraq “revalues” to 100:1 ($1 = 100 Dinars), you’re still arguing that non-Iraqi’s will pay $1,170 to buy 117,000 Dinar’s to import something that cost $100 to import yesterday and is still effectively $100 inside Iraq in current real $ terms.

    - As for the ludicrous 1:3 rate ($1 = 0.333 Dinars), you’re still arguing that non-Iraqi’s will pay $351,000 to buy 117,000 Dinar’s to import something that cost $100 to import yesterday and is still effectively $100 inside Iraq in current real $ terms.

    No matter what “rate” you use for your theoretical “RV” or what the pumpers advertise, – 1:3, 1:1, 3:1, 3.33;1, 5:1, 19:1, 37.2347:1, 100:1, whatever – it simply doesn’t work. The export vs domestic prices don’t add-up with either each other or the global market for the same goods in other countries! The “RV” is complete nonsense that creates a Communist-style banana-republic dictated rate with a ludicrous massive artificial split between domestic prices and prices of exported goods when valued in other currencies almost completely divorced from reality! No matter what you claim – back in the real world, people will not buy anything from Iraq via such a ludicrously overvalued (RV’d) currency and their exports would collapse to nothing virtually overnight.

    1170:1 IS the market value of the Dinar given its huge 72tn monetary supply as verified by IMF & World Bank reports. The IMF openly state that in their own reports! You just don’t want to believe it as that threatens your millionaire fantasy addiction. It’s not “undervalued” at all, and there’s nothing to “return” it to in the past as that early 3:1 oft-pumped value was corrected back in 2003 with a 150:1 redenomination of Swiss Dinars (which did have that value decades ago) to NID’s in 2003 (which have never had any value remotely approaching that). Someone mentioned earlier the phrase “confused nostalgia”. That’s the most perfect description of pumpers fawning over the 70′s & 80′s exchange rates and ignoring the massive inflation and 150:1 Swiss Dinar redenomination vs the NID that has occurred since!

    The exchange rates ALWAYS have to match BOTH ways, and the only way is via a redenomination which resets prices and money supply by the exact inverse factor as the currency grows in strength. Ie, if Iraq wants 1,000x stronger currency, they’ll exchange bank-notes at 1:1000 and divide prices by 1,000. This is how it works in reality, always has done, and is what Iraq have repeatedly said they’ll when they eventually get around to it. There is simply no other magic, secret or way it can work – Iraq no exception. Oil is irrelevant – see Iran’s production vs their 10.5x weaker than Iraq’s currency or Venezuela’s lop despite having double Iraq’s oil reserves.

    Maybe you should ask your “private banker” what Iraq’s M2 figure is. I’m sure a man of his “stature” can figure that simple fact out. Maybe you can persuade your “private banker” to post it here, because you’re obvious terrified to… Other than that, you now seem to now be resorting to playground insults, and so there now seems to be nothing intelligent left here to respond to…

  27. Doc says:

    THEY are adding value to there currency not raising the price of food.U guys have got to be kidding me.If it’s 1-1 how does that change the price of food?If a loaf of bread cost 1166 dinars that’s 1us.More dinars is eqv to 1 right now.But if you rv it will be less physical dinars not yalls equation.1-1 the bread still cost the same.now u can put yhe lower denom in the market.

  28. Doc says:

    OR as some will say the smart.Remember many have exchange the dinar for dollars over there.So if you understand that you can see my point,common sense.What u fellows r doing is trying to complicate the pic.I shared this with my private and he stated the same thing.That most u guys aren’t thinking becuz yall refuse to uze tbe common sense theory.

  29. Dr. R. Keiferland says:

    Doc – “THEY are adding value to there currency not raising the price of food”

    Dear God, it’s like talking to a child… I ALREADY SAID THAT TO YOU!!! The price of food, everything inside Iraq will NOT change in Dinars. It will remain the same and appear the same for Iraqi’s. But any EXPORTED goods (a loaf of Iraqi bread sold outside of Iraq for something other than Dinars) will become more relatively expensive for other countries using other currencies to import!

    “But if you rv it will be less physical dinars not yalls “

    What you’re describing is a redenomination! (At long last…) “RV’s” don’t reduce the money supply, nor do they lop they prices of goods inside the country. The bread doesn’t cost “the same” to export (why do you keep mis-reading what I’m writing?), it costs a lot more in $ because more $ are required the same amount of Dinar after the RV!

    Of course bread right now is currently the equivalent of $1.10 – nobody said it wasn’t! You just don’t understand any of this do you?

  30. Doc says:

    LISTEN for a second read with the ability to comprehend.The value is being added to the Currency LolCurrency yall have got to be kidding me.Comprehend!Can’t they add value to there currency without all these other things being said?Lol there currency will be more valuable.

  31. kev says:

    Doc, your private banker sounds retarded quite honestly. If you take a $300 American IPhone and sell it to Canada at 1:1.02 exchange rate for roughly the same $306. Now “RV” the USD 1,000x higher (setting a peg that demands 1,000x Canadian Dollars to buy $1 USD, ie, $306,000 CAD to now buy a US Iphone), what would you think would happen to the price of an Iphone sold in Canada for Canadian Dollars after the US “RV’s” and Canadians start having to buy it for $306,000 CAD instead of just $306 given that the Canadian CAD hasn’t moved vs the Euro, Pound, etc?

    I’m not the smartest person alive, but even I get this… LOL.

  32. kev says:

    Do you think Canadians will be paying $306,000 to import them but still sell them domestically for $306? It really is you and not us that doesn’t understand it.

  33. Doc says:

    YALL gotta b playing games or just can’t comprehend.To add value to currency doesn’t mean u change the price of things.The bread will still cost the same my money is just worth more.

  34. Doc says:

    THEY are sharing the wealth of there country.They are a third world country with great wealth.But there currency is not worth much.Read the artical on this blog on the home page abt iraq and how they need to increase there monetary value.Lol Add value It’s right there.lol

  35. John Richardson says:

    “The value is being added to the currency”

    YOU need to think that slogan through rather than mindlessly parrot it over and over. What you mean is : “The Dinar will appreciate vs the $ by 1,000x – causing the same effect on the $ as if the $ depreciated vs a stable Dinar by 1,000x”.

    This is what people are trying to explain but you genuinely don’t apear to have the intellectually capacity to grasp.

    “The bread will still cost the same my money is just worth more.”

    Inside Iraq – YES. Outside of Iraq – Of course it bloody well won’t because you’ve just made the USD 1,000x weaker vs the Dinar!!!! Jesus Christ…

    If something costs 1170 Dinar at 1170:1 rate and the rate gets “RV’d” to 1:17 (WITHOUT A REDENOMINATION / LOP) and the bread is still priced at 1170 Dinar inside Iraq (BECAUSE YOU HAVEN’T REDENOMINATED), and you wanted to import it to the USA, how many $ is now needed to buy a 1,170 loaf of bread it at a new exchange rate of 1:17?

    A: $1,000.

    The ONLY way the bread falls in price to 1.17 Dinar at the same time as a 1,000x increase in currency value IS VIA A REDENOMINATION WHICH IS WHAT WE’VE BEEN TELLING YOU ALL ALONG!!!

    My God this is unreal… It’s like living in the twilight zone…

  36. Doc says:

    OH I Understand very well sir.lol Common sense.That’s why u guys bring uo so many theories and assumtions.I have no need to do that.They Need to Add Value to There Currency plain and simple.Currency adding value.It just so happen that I’m holding some of it.

  37. Barry says:

    Doc – “THEY are sharing the wealth of there country”

    They’re not “sharing” anything – that’s just a dumb pumper slogan that people mindlessly throw around. Iraq sells their oil like everyone else.

    Doc – “They are a third world country with great wealth.”

    Iraq possesses 2.5% of Earth’s oil and under 1% of Earth’s GDP. So what? They’re not going to give away for free. They sell it at market rate as set by OPEC like everyone else in the region… There is nothing special or unique about Iraq’s redenomination at all.

  38. Doc says:

    Btw there’s oil there that haan’t been tap into.You drill for more oil that’s there and more money comes into the country.Lol You and your antiquated numbers

  39. Barry says:

    “Btw there’s oil there that haan’t been tap into”

    And the same is true of 99x other countries who have oil… You act like the combustion engine has only just been invented and its a novelty. It has already been explained to you that:-

    1. The Dinar is not backed by oil and

    2. Even it were you cannot back $72,000bn currency with annual sales of $24bn net exports (that would take 3,000x years of oil sales and Iraq only have less than 160x years).

    As I said Doc, there’s simply no point in rehashing circular arguments. You’ve made it very clear with your ridiculous and hostile “You’re a liar for saying Iraq has a 72tn Dinar money supply” (when it’s as clear as day on the CBI’s own website) that you’re not interested in even basic obvious truths, just seeking emotional reinforcement. I could fill up another 4 pages repeating everything over and over again to you, or I could just say “Click on the Older comments sections and have a far more serious read this time around with the intention of actually understanding it”. In reality, I know in advance that you will do what you’ve been doing all along – rejecting anything you don’t want to hear out and tired old name calling. Have a good day sir.

  40. Doc says:

    I Guarantee there’s not 72 trill just floating around sirThat is stupid.Central Banks has some of this money supply sir.They may ha e printed 72 trillion over a span of years. Ut common sense which apparently u fellows dont use will tell you others wise.

  41. Doc says:

    USE some logic and common sense.There banking system is not that advance fellows.72 trillions lolBelieve the hype.Iraq has 72 tril just all around.Yall will believe that but can’t believe anything else.What if I told you that many of the traders have mils if not bils of dinars stored away for sale?

  42. Doc says:

    ANYONE can google search and see rhat your numbers are inflated

  43. Dr. R. Keiferland says:

    Barry – “As I said Doc, there’s simply no point in rehashing circular arguments. You’ve made it very clear with your ridiculous and hostile “You’re a liar for saying Iraq has a 72tn Dinar money supply” (when it’s as clear as day on the CBI’s own website) that you’re not interested in even basic obvious truths, just seeking emotional reinforcement. I could fill up another 4 pages repeating everything over and over again to you, or I could just say “Click on the Older comments sections and have a far more serious read this time around with the intention of actually understanding it”. In reality, I know in advance that you will do what you’ve been doing all along – rejecting anything you don’t want to hear out and tired old name calling. Have a good day sir.”

    Agreed Barry. Either someone has the intellectual capacity to grasp it or they don’t. And if they don’t and cannot be honest over the simplest of things, there’s simply no point in trying to force a one-way debate day after day…

  44. Doc says:

    PRIDE.SMH

  45. Doc says:

    COMMON SENSE is what’s missing u fellows.

  46. Doc says:

    WITH all the numbers that are being thrown around as facts.It’s very clear that u guys are just given your opinions.LolMoney supply M 0 M1 M 2 M 3

  47. Totally Confused! says:

    I’ve been reading a lot about the Iraqi Dinar. I’m not sure if investing in it is profitable or a scam. Right now, I’m leaning towards “it’s a scam.” That being the case, I’m trying to understand what these scammers have to gain. Supposedly, it will be difficult to “cash-in” dinars at US banks. But can’t you exchange currency at airports? I also understand that after redenomination 1,000 dinars will be 1 dinar. Does that also mean if I bought 1,000,000 dinars the 3 zeros would be dropped from my “new” dinars? So I would really have 1,000 dinars after the redenomination? I’ve also read the revaluation after redenomination would mean that instead of paying 1 dinar for milk it’d be 1,000 dinars? I’m so confused! I’d be grateful for further elaboration!

  48. g says:

    Who do you think printed iqd there currency it has always been the united states

  49. g says:

    the common sense is simple the iraq dinar along with 197 other countries will rv we the united states has so much play in this rv you have no clue,and besides for the united states taking out liden an hussen that was the agreement to rv there currency a reward to the united states so learn some history and dont speak when you know nothing also the fact that this will be the 7th time in history for the iqd to rv an there are people that have been in this spot before,and to all the other cheerful people happy rv

  50. Totally Confused! says:

    From what I understand, this is not a “get rich overnight” thing. One side says a RV will make every dinar worth $3. The other side says, sure you MAY get $3 for every dinar…..in about 10 years (after the exchange rate appreciates)! But I’m still confused about old dinars and new dinars. If Iraq is giving citizens new dinars when they turn in old ones, will someone possessing new dinars in the US who trys to exchange them for US dollars be given the full face value or will it be worth 1000 times less? So let’s say after the redenomination, you take 1,000,000 new dinars to a US bank. Will they credit you as having 1,000,000 or 1,000 new dinars? Or would it not matter because 1,000,000 is the same as 1,000? I know nothing about monetary policy and matters; I’m just trying to figure out whether this is a scam or more like a long-term investment (maybe some day might be worth something).


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