By John Lee.
We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example:
- Will the Iraqi dinar increase in value?
- Will the currency be re-denominated, dropping the 'three zeros'?
- Is it wise to buy Iraqi dinar?
Firstly, Iraq Business News is not in a position to give investment advice. Our mission is to provide our readers with the highest quality information on the business and economy of Iraq.
As the value of the Iraqi dinar affects trade, we will continue to report on any possible re-valuations and/or redenominations as soon as information is available.
We hope that this information will be useful to the key decision-makers in Iraqi business, and to all who are interested in the development of the country; gamblers and people involved in get-rich-quick schemes/scams are not our target readership.
It's clear from the correspondence we receive that some people, who like to think of themselves as 'investors', genuinely believe that at the stroke of a pen they will make a 1,000-fold return on their purchase of dinars.
Those people might like to consider some questions before putting any further funds at risk: Read more ...
Stew - "So these people claiming the dinar was worth $3 right up to the war, if that were true, which we know it wasn’t, but if true that means Iraqis were running around doing all their business, buying scraps of bread and supplies with only $750 and $30,000 notes. I’ll have a coke, and if you don’t have change for my $30K note I’ll take your Mercedes."
Stew - Yeah, LOL. It does boggle the mind just how many grown adults can't do basic maths (often the same ones that bemoan the "state of education today" 😉 . One thing that confuses people about the "$3 rate" is that there were two types of Dinar in circulation simultaneously - the official Saddam ones and the older unofficial "Swiss Dinar" ones.
For those who want the simple non-pumper truth of the Dinar's History:-
The Iraqi Dinar was introduced in 1932 replacing the Indian rupee (used due to British occupation in WW1) at a rate of 1 Dinar per 13.5 rupees. It was pegged par the British £ then the peg was switched to the US$ at a rate of 1 Dinar = $2.8. In the 1970's, the Dinar rose to 1 Dinar = 3.3778 which remained until the Gulf War. This peg value was mostly artificial, evidence of which lies in the fact the black market rate was 6x higher ($1 = 3 Dinars) meaning no-one was willing to pay it's 1:3 *over-valued* arbitrary peg in reality even with Iraq's pre-war (both wars!) oil industry in full flow. This value was using what are called "Swiss Dinars" (due to Swiss printing plates used).
After sanctions, Swiss printing was no longer available and new inferior quality "Saddam Dinars" were introduced and due to massive printing, they were rapidly devalued to below 1000:1 via the same ordinary chronic inflation that affects many other countries. Between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed using modern anti-forgery techniques, to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives" (and partly to get rid of Saddam's face on the notes / coins as a political measure). Old banknotes were exchanged for new at a 1:1 rate, except for the Swiss dinars, which were exchanged at a rate of 150:1. This is the real 150:1 "RV" process related to the "old $3 value" that's already has been done and took place 10 years ago! The reason why the Kurds exchanged "Swiss Dinars" for NID's (New Iraqi Dinar's) at a rate of 150:1 was because their currency wasn't inflated whereas the Saddam Dinars exchange 1:1 was because they were inflated.
The sad truth is, most people who use this 1 Dinar = $3 of the old Swiss Dinar as an "RV" benchmark don't even realize that the "RV" old-to-new value correction they're waiting for already took place in 2003! I'll repeat that : The over-printed NID (and Saddam Dinars) have never ever had any exchange rate even remotely approaching $3. Only the pre-1991 "Swiss Dinars" did, and that 150:1 "RV" already took place back in 2003, long before most modern Dinar speculators even bought NID's post 2003. The only way of getting back to near parity vs the $ is via a "lop" / redenomination. There's simply no 3:1 value to "restore" the Dinar to via an RV because the NID's never had that value in the first place even from their day of introduction.
Simply looking up what the value of the Dinar was in 1980, 1970, 1960, etc, out of confused nostalgia, is as utterly meaningless as doing it for any other currency that's since been devalued via chronic inflation, ie ("Mommy! Mommy! Can we buy a new car for $260? Henry Ford sold his model T for that. Let's just pretend 80 years worth of inflation never really happened and that the REAL price of all new modern cars is $260"...)
The NID's people hold now - have never ever had a value of $3 since they were introduced in 2003. Most of this "the Dinar is worth 3:1 vs the Dollar" is nothing more than confused nostalgia. Like people pointing to $50 gold prices under Nixon and saying "Oh the $ must RV by 30:1 because it was worth 30x more vs gold 30 years ago" whilst ignoring the very obvious massive increase in money supply & inflation that's precisely the cause of the devaluation.
Here is the 10-year old official notice about the 2003 "$3" Swiss Dinar to NID adjustment:-
"Starting on October 15th 2003 a new national currency known as the 'new Iraqi dinar' will begin to replace the existing currency, the 'old dinar', and the currency used in the North of Iraq, the 'swiss dinar'. The new Iraqi dinar will create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives.
The currency exchange will last from October 15th 2003 to January 15th 2004. Currency can be exchanged at any time during this three-month period. Locations where money can be exchanged will include banks and other official locations, for example post offices, throughout Iraq. No fees will be charged for exchanging currency.
The conversion rates for new Iraqi dinars will be as follows:
- one 'old dinar' will be exchanged for one new Iraqi dinar;
- one unit of the 'swiss' dinar will be exchanged for 150 new Iraqi dinars."
http://www.usembassy.it/file2003_10/alia/a3101405.htm
In short : The current NID notes people hold have *never* had a market rate anywhere near $3 (as they were a replacement for the "Saddam Dinars" which were already devalued years before before 2003), whilst the "Swiss Dinars" which did have a $3 rate have already been corrected 150:1 back in 2004 as part of the NID's introduction.
What is to come is a simple *redenomination* (or "lop") to take all the inflation and 3 zeroes out of everything - as the Central Bank of Iraq, IMF, Iraqi Parliament, SIGIR, World Bank and Iraqi Finance Committee have repeated over and over and over and over and over again and everyone except a few scam-pumper "personalities" and their confused followers understand perfectly...
LOL. Indeed. Unless your Dinar look like this...
http://67.18.18.138/~etleboro/sites/thumbnails/news/10977_Swiss_Dinar_front.jpg
...They've never been worth anything near $3. (And if your Dinar notes do look like that - you're about 9 years past the Jan 15th 2004 cutoff point for changing them up into NID's so now they are literally worthless 🙂 )
It’s like these people don’t even understand the most basic concept of exchange rates.
Lets take a simple example. Lets take 3 coke bottling plants, 1 in Iraq, 1 in Kuwait and 1 in USA.
The dinar crowd actually thinks this. That the worker in the USA make 500 dollars per week, the Iraqi makes 500 iraqi dinar a week and the Kuwaiti makes 500 Kuwaiti dinar a week.
That would mean the US guy has $500 to spend , the Kuwati guy has $1700 to spend and the Iraqi only has 42 cents to spend. Iraqi guy can’t even buy one coke for one weeks work.
That’s how dinar people think exchange rates work, which is stunning.
For profit and the others here that don’t get it. All 3 guys make about $500 a week, yes I know coke probably pays a little less over there, but for this argument let’s say it’s about the same. So USA guy gets $500 and a coke over here cost $1 so he can buy 500 of them for his weeks work. Kuwaiti guy gets paid 141 Kuwaiti dinar and he can buy 500 cans of coke in Kuwait since they only cost .28 dinar in Kuwait. Iraqi guy gets 583,000 Iraqi dinar for his week and he can buy 500 can of coke in Iraq because they cost 1166 dinar. They all have the same purchasing power even though one has an exchange rate 4000 times higher than the others. That’s the basics of how exchange rates work.
If either of them wants to cross the border and do some shopping then they exchange their currency and have the same exact purchasing power in the other country. Kuwaiti guy has no advantage at all due to the exchange rate.
As we write, and wait, we WILL see!
I'm not waiting for anything, because nothing is going to happen.
Maliki had the CBI officials who wanted to redenominate removed. Mohammed Saleh was just let out of jail recently. The new CBI officials have stated they still will redenominate, but not in 2013, so maybe 2014. They might or they might not redenominate, many countries have no problem using large denominations and continue to do so years and years, just as Iraq has for over 10 years now.
Everyone has an opinion?...lol...
Excellent posts Barry & Stew.
Barry:- "They have never, ever said anything about a “1:1 banknotes exchange” or “99,000% RV” in the conman / pumper sense (which obviously wouldn’t take any money out of circulation at all since you’d just be swapping 72tn for 72tn…)"
Exactly. It's like swapping a modern $5 note for your buddy's modern $5 note, then expecting him to pay you $5,000 back without ever explaining why beyond "I WANT FREE MONEY" or "that's what it was worth decades ago so it must be worth the same now!" - ignoring the fact that neither of the modern $5 banknotes you both hold never had that value of decades past banknotes with completely different face-designs... LOL.
Barry:- "This is quite simply, why the Dinar is worth over 2,000x less than the Kuwaiti Dinar - Iraq has printed 2,000x more money and the total assets backing it (CBI FX reserves) have to be spread over 2,000x more money which dilutes each currency unit’s by same ratio"
Bingo. There are 72 trillion Dinars in circulation and the international value of the Dinar vs any international currency is determined by the foreign exchange assets the CBI has backing it divided by total Dinar money supply:-
- Vs the Dollar : 72,000bn Dinar divided by $60bn = 1200:1 vs the $, which is near its pegged offical exchange 1165:1 rate, ie, it's already fairly valued by the market with a less than 5% variance between its official and market values. This is almost identical to the "street value" of the Dinar (ie, what Iraqi's inside Iraq are willing to pay for $ and vice-versa)
- Vs the Euro : 72,000bn Dinar divided by €45bn Euro's worth of assets ($60bn CBI reserves in Euros) = 1600:1 vs the Euro - which is fairly close to the 1,551:1 rate the Dinar has vs the Euro.
- Vs the Russian Ruble : 72,000bn Dinar divided by 1,816bn (1.8tn) Rubles ($60 CBI reserves in Rubles) = 39.65:1 vs the Ruble - which is fairly close to the 38.46:1 Dinar:Ruble rate.
Rinse & repeat for every one of the other 180 countries on Earth and it's the same thing - The Dinar's rate is already fairly valued by the market according to supply (money supply) and demand (CBI's tradable reserves) and the Dinar's 1,000x value fall occurred solely because Iraq printed 1,000x more money! It really is that simple! THIS IS HOW CURRENCIES WORK IN THE REAL WORLD - away from clueless already-debunked pumper conspiracy junk, junk economics, chronic financial illiteracy and Dinarian "I WANT A PONY" foot-stamping.
Most "RV addicts" entirely self-centered reality is based solely on obsessing about "ME AND MY BANKNOTES" and consistently ignoring every other "elephant in the room". They don't seem to understand that if Iraq did move its currency up 1,000x without any price redenomination, America (and all other non-Iraqi's on the planet) would suddenly find Iraqi products 1,000x more expensive, not cheaper (which no one would buy causing Iraq's export-related economy to collapse), because each Dinar would also become 1,000x more expensive to buy in every other currency on Earth!
Do you like Sony, Panasonic & Toshiba TV's? If Japan "RV'd" the Yen by 88.7x tomorrow so that the 88.7437:1 Yen:$ rate became 1:1 vs the $, would you continue to buy 35,408Yen ($399 TV's at 88.7:1 rate) with a new $35,408 export-to-America price tag (35,408Yen 1:1) whilst $399 Korean LG & Samsung TV's continued to be priced at $399? Of course not. Trade with Japan would cease to exist as the exchange rate wouldn't reflect real-world prices without being redenominated ("lopped") down by the same factor - that's the whole point of the redenomination / "lop" process in the first place - to correct the obvious trade-destroying imbalance!. Same is true of Iraq.
Did you people really think redenominations / lops exist for no reason? Are "RV" people really that arrogant they believe "the masses are too stupid to see 'the secret' that a country can make itself 1,000x richer by making all their exports 1,000x more expensive by making it 1,000x more expensive for foreigners to buy Dinars in every future business transaction?"? That's so preposterous it defies belief people actually believe in it after all these years...
Another example:-
You're a Jordanian businessman buying agricultural goods from Iraq (say 100 tons of Iraqi wheat at $341 per metric ton for a total market value of $34,100). Current exchange rates are:-
1165:1 IQD vs USD
1641:1 IQD vs JOD
0.708:1 JOD vs USD
This $34,100 global market price of 100t of wheat works out to be both 39,726,500 (30m) Iraqi Dinars and 24,142 Jordanian Dinars.
- If Iraq redenominates ("lops") and deletes 3 zeroes, then the Dinar moves to 1.165 vs the USD and 1.64 vs the JOD. Price of wheat gets 3-zeroes lopped off and falls to 39,726 new Iraqi Dinars. Price in Jordan is still 24,142 Jordanian Dinar's. Both reflect the global free-market value of 100t of wheat, and everything balances out (as it must do - or the loser simply wouldn't make the trade if it would make him 1,000x worse off...)
- If Iraq "RV's" to match the $ 1:1 in the pumper sense (ie, NO redenomination / "lop") by demanding everyone else on the planet now pay 1,000x more for Dinar's, then the Dinar moves to 1.165:1 vs USD and 1.64:1 vs JOD, but the price of that wheat stays the same (39.7m Dinars) because it hasn't been redenominated with a 3-zero lop (there would also still be 72tn Dinar in circulation so prices will also not fall inside Iraq domestically and a 1,300 Dinar loaf of bread will have an "RV'd" international price tag of $1,115...)
Iraq's wheat price is now manipulated by an artificial "RV" peg which results it all Dinar priced goods being 1,000x higher than every other country on Earth. So the Jordanian businessman now sits there in bemused disbelief after being asked to pay 24.1m JOD's ($34.1m) to buy "1,000x RV'd Dinar" in order to buy the same amount of wheat that he can still import from Turkey, Greece, Europe, Asia, S. America, N. America, Russia, Eastern Europe, Africa, etc, for their real market value equivalent of 24.1k JOD's / $34.1k...
Same with other currencies. Eg, right now 1 Euro = 1,458 Dinar. Or inversely, 1 Dinar = 0.0006855 Euro's. That would become 1 Euro = 1.458 Dinar and 1 Dinar = 0.6855 Euro's. No way would German's buy Iraqi products that cost €50 (73k Dinars) today for €50,000 (73k "RV'd" Dinars) tomorrow when the same non-Iraqi products remain the same value (eg, buy €50 Kuwait goods (17.5 KWD) still cost only €50 (17.5KWD)).
The RV-scam is absolutely bogus and the maths / economics total junk as it causes a massive, artificial and ludicrous anti-free-market 1,000x fake split between the price of goods in Dinar and their actual real value in every other country except Iraq!
It's like if America "RV'd" the $, and a northern Montana baker would sell a loaf of bread simultaneously for both $1.50 in America and $1,500 when exported to southern Alberta, Canada a few miles across the border, whilst at the same time, a Texan sold an IPhone for $299 to Texans and $299,000 to Mexicans, a Californian sold Dell PC's for $499 inside the USA for $499,999 outside of it (competing with Asian Asus / Acer PC's still priced at $499) - and you seriously expect the American export economy to NOT collapse when it instantly loses all its customers overnight?...
It's amazing how this blatantly obvious "elephant in the room" still flies straight over their heads even after all these years - Forex is a zero-sum game : For Alan to buy 1165 Dinar for each Dollar from Bob - Bob has to simultaneously buy $0.00085 for each Dinar from Alan on the other end of the transaction. If the Dinar "RV'd a magic 99,000%", then all future Dinar purchases would cost $0.85 per Dinar (instead of $0.00085 per Dinar). Think about the effect of that on global trade and Iraqi exports outside of the usual blinkered sandbox of "JUST ME AND MY BANKNOTES"... 😉
As for stupid "pumper rates", for an exported $100 Iraqi product (currently priced at 116,500 Dinar):-
- Even if Iraq "revalues" to 3:1 ($1 = 3 Dinars), you're still arguing that non-Iraqi's will pay $38,833 to buy 116,500 Dinar's to import a $100 product that cost $100 to import yesterday and is still sold at $100 in all other countries due to an abnormal 333.3:1 introduced artificial split between real international market prices and a fake "RV" declared peg.
- Even if Iraq "revalues" to 10:1 ($1 = 10 Dinars), you're still arguing that non-Iraqi's will pay $11,650 to buy 116,500 Dinar's to import a $100 product that cost $100 to import yesterday and is still sold at $100 iin all other countries due to an abnormal 100:1 introduced split between real international market prices and a fake "RV" declared peg.
- Even if Iraq "revalues" to 100:1 ($1 = 100 Dinars), you're still arguing that non-Iraqi's will pay $1,165 to buy 116,500 Dinar's to import a $100 product that cost $100 to import yesterday and is still sold at $100 in all other countries due to an abnormal 10:1 introduced split between real international market prices and a fake "RV" declared peg.
- As for the ludicrous 1:3 rate ($1 = 0.333 Dinars), you're still arguing that non-Iraqi's will pay $349,500 to buy 116,500 Dinar's to import a $100 product that cost $100 to import yesterday and is still sold at $100 in all other countries due to an abnormal 3000:1 introduced split between real international market prices and a fake "RV" declared peg.
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 - the "RV" argument is complete nonsense that attempts to create a Communist-style banana-republic dictated rate with a ludicrous massive artificial split between domestic prices and real international market prices of exported goods when valued in other currencies almost completely divorced from reality! The entire "logic" and maths behind it are junk, simply doesn't work and the whole "belief" is a joke that doesn't even begin to add up. The export vs domestic prices don't add-up with either each other nor match up with the global market for exactly the same goods sold by other countries! No matter how much "faith" some have (which to some is becoming increasingly more like a religious cult) - back in the real world, people will not buy anything from Iraq via such a ludicrously overvalued (RV'd) currency, their exports would collapse to zero (as people aren't going to pay 1,000x more than it's worth - nor are Iraqi businessmen going to sell it for 500x less than what it cost them to make) and the Dinar turn into a "junk currency" virtually overnight.
If you make the Dinar 1,000x more valuable in real terms vs every other currency, then that's exactly the same effect on global trade as if the Dinar remained stable and everyone else on the planet all devalued their currencies by 1,000x! If Obama stood and up said "Today I'm going to make the USD 1,000x more worthless vs foreign currencies", you would CHEER?!? That's what you're doing now - cheering because you falsely believe the $ will be worth 1,000x less than an "RV'd" Dinar... Think it through, people...
A lot of writing and worrying over this so-called useless stuff huh?....Wow, I'm really feeling I must be onto a hidden gem here, or a diamond in the rough!..Have I now got the billionaires possibly worried and laying down their other ventures over just little ole me and my positivity..and now looking into this thoroughly, while seemingly losing money, and spending all their time worrying over it's toilet paper value as well...I've always wondered why?...IMO: "Thar's Gold in them thar hills!"...There must be something very good in this investment with this much negativity and with all the opposition?...Are we not supposed to get just a little of it?...LOL....
Yes, there is very likely more to the dinar we hold than the story of what HAS to happen in Iraq. ....Only time will sort those options out, and arguing over possibilities will only alienate more people.
BEST OF LUCK TO EVERYONE!
Wow. This is exactly why I love this site. A much needed torrent of raw truth from people who know exactly what they're talking about (Barry, Stew, John, Dr. R. Keiferland, etc) saying it like it is. On Dinar Vets, etc, (all run / funded by salesmen or "pumpers") the above posts would have been rapidly censored and the accounts that created them deleted out of sheer embarrassment (I saw a similar one there once deleted within 3 minutes of posting. When two people who also saw the same thing asked where it went, their posts were deleted too!)
And yes, I will put my hand up and admit I got suckered in for a while and bought some Dinar (sold them last year though). A lot of people are waking up to the "impossible maths" truth though (look at the surge of those selling their Dinar on Ebay). It was nice to believe, but there comes a point where you do have to 'keep it real'. Ignorance is not bliss in the long run, just denial. Fantastic posts guys - keep 'em coming.
PS : Factfinder, yes there may well some global banking changes in future dealing with the current major issues (derivative bubble, etc), but they will be global in nature (obviously). Iraq has never been the "centre" of anything like that, and nor are such changes reliant or dependent on Iraq. Less than 0.08% of all the money in the world is denominated in IQD, we could have not invaded Iraq in 2003, and they could still be under the thumb of Saddam Hussein with zero Dinar sold outside their borders, zero redenomination, zero "RV" sales industry - and massive global financial structural changes could still occur... The Dinar's redenomination and future potential global banking reformation are two completely separate issues though - In my experience, some only want to confuse the two to justify their own purchase of Dinar so they cam use the excuse "no one will know" as an "copout answer" to posts like Dr. K's (to which no-one even attempts to address because it so meticulously debunks the "1,000x money out of thin air for nothing" that there isn't anything left but the usual shallow appeals for "faith")...
It's just a wait and see...and until it's over...I'm happy, no matter how many are miserable...lol...
"The RV-scam is absolutely bogus and the maths / economics total junk as it causes a massive, artificial and ludicrous anti-free-market 1,000x fake split between the price of goods in Dinar and their actual real value in every other country except Iraq!" - Dr. R Keiferland
Yeah that makes a lot of sense. I did think about it before but dismissed it as "If that were true people wouldn't fall for the scammers fancy talk" but then again I guess various "bubbles" (stock market, property, etc), prove that the 'herd mentality' is not a reflection of the facts and that truth stands on its own two feet no matter what. Thanks for your posts (and others too). Very well articulated, water-tight and down to Earth.
You know the old saying... "ignorance is bliss"
Dr R. You I and many others know what would happen if Iraq RV’s the dinar to $1.
The scammers have answered that problem by convincing people Iraq will adjust everything, all goods, prices, services, salaries, everything will have 3 zeros removed. Now we know that’s a currency redenomination and will also mean the amount of dinar they have will have 3 zeros removed, but the scammers have convinced people that everything will be redenominated except for the currency. They have people believing a big RV and new lower denominations will come out and they will take their current 1 million dinar of large denominations into a bank and be given a bank account with a value of $1 million dollars. The banks will then send the dinar to the fed to be held as reserves, never going back to Iraq, maybe used to buy oil. It’s quite a fantasy, and as we see, people with almost no comprehension of basic economics and simple math for that matter, just can’t figure it out.
Bob,
I actually agree with you and everyone else about the insane rhetoric in regards to the IQD and its relation to the country of Iraq and economic systems. .......What I'm not discounting is some form of 'distribution' making use of the dinar in the greater scheme of things.
The dinar is embarrassingly cheap by world standards, and its use in a reorganization of assets worldwide could make some sense. ....I'm still waiting for someone to disprove the concept with more than a 'conspiracy theory' remark!
Best of luck to everyone!
Factfinder:"The dinar is embarrassingly cheap by world standards."
That is absolutely a bogus statement.
Iraq has 35 trillion dinar in circulation At the exchange rate of .00085 Iraq has 29.75 billion dollars in currency in circulation.
Kuwait, who I’m sure you think has valuable currency by comparison, they have only 1.14 billion dinar in circulation. That’s 3.99 billion dollars worth of dinar in circulation.
Iraq $30 billion worth of currency
Kuwait $4 billion worth of currency
So the Iraqi dinar in circulation has a value of 7.4 more than the Kuwaiti dinar in circulation.
The true value of a currency is not what each unit is valued at, the value is the number of units X the exchange rate.
If I started a new country with a million people, and I issued a new currency with an exchange rate of $10,000 per one of my new currency units, you’d think I have the most valuable currency in the world. But what if you found out I could only afford to put out about 100 of those units, so my country only has $1 million in currency. Would you still think I have the most valuable currency?
In other words, stop getting hung up on the exchange rate. It is only one half of the equation. Supply is the other half and it’s absolutely just as important as the rate side of the equation.
Back to your statement. Taking supply into account the dinar is very fairly valued by world standards". The IMF has even stated that.
Hi Stew,
That 'embarrassingly cheap' comment was not aimed at stating a value, but more of commenting on the ease of purchase by the broadest spectrum of purchasers.
I still await comments regarding the possibilities of the use of the dinar in some form of realignment worldwide. .....And I hope no one takes offense to the possibilities!
Factfinder
Skittles are cheap per skittle, try buying 70 trillion of them.
The possibilities of using a RV of the dinar as some type of global realignment is refuted with simple economics. It just can’t be done. How do you prove it will never snow in hell?
Doesn’t the fact that we have shown that Iraq’s currency is valued pretty much exactly where it should be kinda shot a hole in your theory?
There's only about 6 Trillion dollars worth of currency in the world right now, If Iraq RVd to $1, they alone would have 35 trillion dollars worth of currency out there, almost 6 times more currency than the whole world combined at this point.
Does that not sound utterly ludicrous?
A question would be… if the world powers were planning this big realignment or rescue or whatever is being talked about, why in the heck would the world powers select a screwed up country like Iraq to do this with?
Factfinder: Thinking more about your comment “ease of purchase by the broadest spectrum of purchasers”
The dinar is no more cheaper and/or easier to purchase than any other currency in the world.
You are still hung up on exchange rate.
If you have $1000 and want to get $1000 worth of dinar, it cost about $1000, same as it does to convert your $1000 to any other currency in the world.
In fact the truth is probably more accurately stated as… the dinar is a very expensive currency compared to most. Most currencies you could exchange you $1000 for $1000 worth of the other currency for a pretty small fee. These people buying dinar are paying 20 or 30% fees. They are taking $1200 and getting $850 dollars worth of dinar. Those falling for the small denom scam are paying even more ridiculous amounts. That is a VERY expensive currency if you ask me.
FactFinder : "The dinar is embarrassingly cheap by world standards"
The IQD isn't "cheap" by any measure given Iraq's massive money supply. I think this is one of the biggest myths perpetrated with the Dinar that get a lot of people sucked in (including me in the past I have to admit) - people just look at the face value vs the $, see lots of zeroes and falsely assume it's "cheap" ("because look how many Dinar a $ buys!"). But when you learn how and why currencies are actually valued against each other in reality, and look deeper at why it has the 1165:1 rate that it does (and that's not because someone "forgot" to 'correct' it after a war) - basically as Barry & Stew said you divide the foreign exchange assets by the number of units of currency (eg, $60bn CBI assets divided by 72,000bn currency) = 0.0008 (that's how many $ each Dinar is worth (or conversely, you divide the number of units of Dinar by Iraq's FX reserves (72,000bn divided by $60bn) and that's how "thin" each $ backing it is spread (around 1165:1-1200:1 ratio). Some may not like or want to hear what they say - but it is indeed the truth of the Dinar.
$5 is embarrassingly cheap for a 1 litre bottle of good whisky, but not for a 1 litre bottle containing 1ml of whiskey diluted down with 999ml of water...
This is true of all countries Iraq no exception. Look at Iran - the Iranian Rial is a whopping 12,285:1 vs the $ (in theory 10x "cheaper" than Iraq despite the fact they sell more oil). Why? Because they've also got a whopping money supply (almost half a quadrillion (over 500tn) Rial last time I looked). 10x more money printed = 10x weaker currency vs Iraq. The only reason people aren't panic buying Rial's despite Iran also planning to redenominate (lop 4 zeroes rather than 3 though) is simply because there is no organized "sales industry of deliberate confusion" surrounding it like there is the Dinar "pumper" hype whipping people up into a state of near-hysteria.
The Dinar would be "embarrassingly cheap" if they had a 1165:1 ratio with the same money supply as Kuwait's (tens of billions), but the truth is they don't, they have tens of trillions of Dinar that have backing by only tens of billions of $ Forex reserves, and none of this is "secretive" in any way as some try to make out... People only resort to secret conspiracies to avoid facing irrefutable facts. This can be observed over and over again on over a dozen forums. In fact, I did that myself for a short while I admit. When you're in that position, you "feel" you're "right", but most of that is just off artificial excitement, and when you snap out of it, it becomes obvious we're being "played" by the pumpers who are masters at tweaking emotions and "pushing the right buttons". Some then say, "well THAT pumper is a liar, but it's still true in general" - but even that's an illusion / wishful thinking.
The IMF openly and clearly state it's neither under nor over valued given its money supply. In my experience people who claim "they must all be lying - everyone except my pumper is a liar" are the same ones who would quite happily hypocritically quote them (and often do) when they hear a rare fact they like. A massively out of whack money supply is not something you can hide. If the Federal Reserve expanded America's $10tn money supply to $10,000tn in under 20 years, they simply could not hide it. Not all the "men-in-black" in the world could. Inflation would run rampant just like it does in every other country including 1990's Iraq, 1920's Germany, Zimbabwe, Korea, Vietnam, Argentina, Turkey, Venezuela, Nigeria, etc, and over 80 other countries.
Iraq has only $60bn of foreign currency reserves to *buy back* Dinar. When you "cash in" Dinar - these reserves are where the money comes from to cover the transaction of buying your Dinar and selling you $. If they used those $60bn to "back" the Dinar at 1.65:1 without redenominating, they'd only have enough to cover 0.1% of their currency before they quite literally ran out of money! They'd also run out of money for normal trade (eg, paying for imports). Not all of those $60bn reserves are in $ either because they do need some for trade with other nearby countries (eg, Turkey & Jordan). This is why a lop is genuinely inevitable, regardless of what happens with global banking reformation as a separate issue.
This is one of those things a lot of amateurs don't get - many for a long time - some never "get it" at all, but what Barry, Dr. Keiferland, Stew, John, etc, have been saying is absolutely true about how it works. People REALLY want Iraq to be "different" or "unique" and concoct all sorts of fabricated excuses, fantasies of how they *want* it to work, twist the facts to suit the agenda, etc, and mixed in half-baked conspiracies, but Iraq isn't "unique". Several other countries have "IMF protection" (eg, Haiti). 100 others have oil. Two dozen others have inflated sub 1000:1 valued currencies. Plenty of others are recovering from war and dictatorships (not least Afghanistan who lopped 3 zeroes in '02).
Best of luck to you too FactFinder. Hopefully, the state of the global economy will improve, but buying 1m Dinar and wishing someone will give you 1,000x more than they're worth is not the answer, and never has been I'm afraid to say.
PS: Just for the record, I've served in the Army (1st Infantry Div) and unlike most Dinar holders and "guru's" I've actually been to Iraq (and "lived Iraq") for more years than I’d like to remember). They have regular TV broadcasts on Alsumaria TV (their Arabic language TV channel) specifically about the planned redenomination – explaining how the prices will get lopped and how you will hand in 1,000 current notes and get 1 new note back but that 1 note will be worth 1,000x more so the equation balances out. This is openly broadcast to 31m Iraqi's on TV, radio and repeated in their Arabic newspaper - word for word. We've been there long enough that we have some very fluent Arabic to English translators and their meaning is unmistakeable - it's a "lop". We don't need Breitling / James Wolf ("Adam Montana's" real name) style selective misinterpretations of a half-gibberish Google-translated news clipping. Iraqi’s already know the truth and the planned redenomination – it’s sadly American’s who’ve never been to Iraq that don’t...
All the best, Bob.
More homework for the pro's!...Here's something for the economic/monetary know-it-all's on here...when you figure all this out about money, and how complex it can get, then get back with me, and you cant deny the agencies that are posting some of this either...get to work..lol..
From Video: [Notice how he speaks of continents as "Kingdoms" also an amazing World Bank document below the fold on the Final 2012 Audio on "infinite bank statements" -AK]
Wednesday, 23 January 2013
http://removingtheshackles.blogspot.ca/
From 4aprofit's link:-
"OPPT proposes that Ten Billion Dollars ($10,000,000,000) USD is held in trust for each individual on this planet."
You just don't get it do you? When everyone has $10bn, $10bn is no longer worth $10bn in today's money (for the same reason when everyone has an original Mona Lisa each would be worth a few bucks not a few million bucks), and even the price of a loaf of bread ends up in the millions of $ (just like the loaf of bread shot up from 1 Dinar in the 90's to 1,300 Dinar today)... Why do you think today's $ is worth less than WW2's $? What process do you think causes money to lose its value?
There's already a country where every citizen has been given 10bn, 10,000x over. Here's a photo of one of their banknotes:- 🙂
http://www.rickety.us/wp-content/uploads/2010/05/Rachel_Zimbabwe_banknote.jpg
For some reason, I'm not even remotely suprised that you 4aprofit, were the one to come out with that link. You literally do not understand a single thing about money beyond "ME WANT! ME WANT" do you? 🙂
Read my lips - you will not save the world with hyper-inflation... I swear you have to be trolling by now...
ROFL John. 4aprofit's the type of person who believes the girl in your link is not only 2,000x richer than Bill Gates - but so will everyone else be by photocopying their banknotes 1 billion times!...
I admire your patience John. He's operating on such a permanently low level of consciousness, there's really no point in even attempting to repeat even basic explanations of very basic things over & over. Like what is "inflation". It's like tapping on the glass at an aquarium. That's also why Googling his name reveals his other posts on other Dinar forums where he swears "the Dinar is secretly backed by Sulphur" (with a price of $160 per tonne 😉 ). LOL 🙂 In a world of his own...
Apparently you never veiwed the video, or saw who all the entities were that were involved...bottom line: to a certain degree, money as per over 90% of it, is nothing but electronic figures and pencil etchings on paper...you'll catch on maybe...one day.....
For the record:
cheap (chp)
adj. cheap·er, cheap·est
1.
a. Relatively low in cost; inexpensive or comparatively inexpensive.
b. Charging low prices:
NUFF SAID!
4aprofit - "Apparently you never veiwed the video, or saw who all the entities were that were involved…bottom line: to a certain degree, money as per over 90% of it, is nothing but electronic figures and pencil etchings on paper…you’ll catch on maybe…one day…"
$10bn * 7bn people = $70 quintillion. Even taking 90% of that away = $7 quintillion.
Reality check : All the world's money, stocks, bonds, precious metals and property COMBINED don't even make up 0.01% of that.
In fact the entire global economy of all 190 countries combined is only $80tn:-
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29
This is why people laugh at you and your "secret knowledge" when you claim someone on Earth has "10,000x planet Earth's worth of resources". Quite honestly, what originally came across as naive gullibility is actually starting to sound like a serious undiagnosed mental health issue...
Wow!...I'm missing the "negative" mile long letter reply's as usual?....(We just cant be finished now guys...I'm loving it)..I dont think there has been any other reason been given as per why the Iraqi Dinar could do anything positive as per the naysayers...or should I say experts?...All I can say, is I'm glad I bucked the system and went out on a ledge here, at least investment wise...as all the seemingly good stuff...you know, the rock-solid, bullet-proof, safe, sound and secure things..for the most part, have pretty much either tanked or headed that way...but I was never given all this advice warning me of those before they went flying out into the abyss..so here we go, let's try reverse advice, round-robin, or whatever you want to call it...as with this much adversity...I just gotta be onto something great!...Thanks guys....lol...
John, I agree with Kev. There's simply no point even attempting any sane, lucid debate with someone who quite simply lacks the IQ to grasp even basic elementary maths or concepts and will quite literally believe and attach themselves to ANYTHING no matter how absurd or delusional. For some people it genuinely "just isn't there". Reminds of me of the similar NESARA link someone posted last year which claimed there are "40 zeroes worth of gold in secret stashes on Earth which will be shared equally and reset the global economy!".
How large is "40 zeroes worth of Gold":-
Gold is currently around $55,000/kg. 1 cubic meter of gold weighs 19.3 tonnes (19,300kg) worth approx $1.06bn per m3 (1m x 1m x 1m). 40 zeroes worth (40,000,000,000,000,000,000,000,000,000,000,000,000,000), ie "40 Duodecillion" works out to a "hidden stash" cube of gold approx size : 34 billion km x 34 billion km x 34 billion km - a size so large it's actually 1. Equal to 227 AU's (Astronomical Units = 149.6m km) on each cube face which is 4.9x the size on each face than the known solar system from Pluto's outer Aphelion (furthest orbital point from the sun) to its other Aphelion approx 123 years later the other side of the sun, 2. Would take 44hrs to cross travelling at the speed of light, 3. Its furthest point is 2.25x further away than the space probe Voyager 2 launched in 1977 after 36 years of continuous travel at 34,530mph (and would take 30,302 years driving a car across it at a constant 80mph), and 4. You could fit 19,761 quadrillion planet Earth's of 12,756km diameter inside of it...
This "hidden wealth secret intelligence bulletin" was brought to you by the same people who wrote 4aprofits "there's a guy who's going to give everyone on Earth 875,000x Global Economies worth of money backed by 100,000x planet Earth's worth of resources. I KNOW it's true - a mathematically illiterate anonymous conspiracy theorist told me on the Internet, and if you reply debunking it - that's PROOF that it must be true!"...
People are entitled to their sane, realistic dreams & beliefs, but [offensive comment removed] is what it is... Best to ignore such obvious troll-bait and refocus on the grown ups here.
Barry, agreed! Some of the stuff out there not only defies belief, it completely redefines the benchmarks of raw gullibility...
At least we are starting to break the ice and hit on a few nerves, to help a few get a foot in the game, as per putting on their thinking caps with 360 degree views...and those that dig in and do their homework, instead of continuing to play kickball, will advance in this money school...those that dont...oh well, they'll still be here writing bad tings about the next opportunity that passed them by...lol...
P.S. Look, you can be so seemingly intellectual and smart, so much, that you do NOT know what your doing...as many of those types have already lost everything in some of the biggest funds and investments in the world already...who knows..you may learn to love what you hate, as you already must hate what you love...or you would'nt be here...wasting time on such a thing...without an agenda'...think about it...
DID ANYONE WATCH THE VIDEO, (IN ONE OF THE PRIOR POSTS), FROM AN "OFFICIAL" SOURCE...DEPICTING THAT THERE ARE QUADRILLIONS OF US DOLLARS OUT THERE...DOES THIS NOT EXPLAIN WHY MONEY, TO A CERTAIN DEGREE...IS ONLY AN ELECTRONIC FIGURE FOR THE MOST PART...IF THIS WERE NOT TRUE...HOW COULD WE BE FUNCTIONING WITH THE US DOLLAR?...SO, WITH THIS BEING SAID/SHOWN....SHOULD I BE WORRIED MORESO OVER THE IRAQI DINAR?...IS THERE REALLY 25 TO 30 TRILLION DINARS, 70 TRILLION, 500 TRILLION?...WHO CARES?...WHAT'S THE DIFFERENCE IN PLAYING IN ONE GAME OR THE OTHER?...UNLESS, ONE WANTS TO BE DIVERSIFIED?...WHAT'S SO BAD ABOUT THAT, ESPECIALLY WHEN MY DINARS HAVE NOT LOST ANY VALUE, AND SOME HAVE HAD GAINS...WHILE MOST CANNOT SAY THIS ABOUT THE US DOLLAR!..WOW..HOW HARD IS THIS TO FIGURE OUT..I AM BEGINNING TO FEEL LIKE WE ARE TALKING TO "GRADE-SCHOOLERS" HERE...LET'S GET SOME COLLEGE EDUCATION BEFORE WE BLABBER AND WRITE BOOKS ABOUT ALL OF THIS CRAP THAT'S BEEN PUT OUT ABOUT ALL THE "WHY-NOTS"...WHEN MANY DON'T EVEN KNOW THE "WHY'S"...OR YET!...LOL...
Here it is again...Peace!... http://removingtheshackles.blogspot.ca/
Gentleman and Stew,
Through all of this debate one factor that has been discussed or introduced by Stew very briefly, is currency removal from circulation. If you remove notes including the individual X units represented by them. Then the currency still in circulation is not as diluted regarding the value of each unit. I only bought into the Dinar R/V theory because I took a risk, believing that Iraq would have to find a way to remove Dinar Notes from circulation. Credible sources, the CBI included verify that Iraqi commerce and citizens street transactions use the USD for just over 30% of all these transactions in Iraq. Dinar notes are worn out and not being replaced. I believe that regardless of the so-called official numbers published for Dinars in circulation. We are seeing the signs of Dinar removal. I believe that we will see a reverse engineering in regards to the value of each indiviual Iraqi monitary unit called Dinar. Even the doughters will be convinced..IMO
From your link.
“Yes, the arrests took place on Dec 5th. Yes, Boehner was sworn in as Interim president on Dec 6th. Those are facts. I don't care if you don't believe me, that's your choice.”
So who was arrested? Obama? Boehner is now the President?
This guy is a loon.
I think his contacts must be the from the Tuiasosopo clan.
4aprofit, you say "or yet!" a lot - can you please explain what that means?
4aprofit, you can no longer play both sides of the fence at the same time and be taken seriously. You quoted an "article", asked a question and then invited people to respond, then you whined like a small child when people did but you didn't like the answers that points out the blatantly obvious impossibility. Now you're asking people to respond again, and if we did, you'll just throw another tantrum again, pretending "it doesn't really matter after all, why are you worried, everyone's a liar except me!, why are you here talking to me even though I asked you a question, talk to me!... why are you still here talking to me?!?... ANSWER MY QUESTION!... You're obsessed because you answered my question!", blah, blah, blah. It's such a stupid bi-polar act you put on that's exactly what makes you look like a troll (and quite frankly, deranged). It's like talking to a small child trapped inside the body of an adult putting on a brave face and holding back the tears after being told Santa really doesn't exist and who now wants to "get back" at the adults who told him and "show them"...
If you want to talk - then talk like a grown up and actually put up some facts (not recycled 3rd-hand delusions, "beliefs", "rumors" or copy & paste the Internet's most hysterical conspiracy sites). And if you don't want the answers, then why keep asking us inane questions every... single... day?...
There aren't "quadrillions" of $ of currency out there - that's just the lunatic ravings of the paranoid Internet nutjobs you seem to have a fetish for... FACT : The US money supply is roughly $10.3tn and there are under $3tn banknotes. The USA HAS typically doubled its money supply in a decade from $5tn in 2002 to $10.3tn today yes, especially after the 2007 bank bailouts, but not by a stupid +100,000%... If they did that a loaf of bread would be over $1,000...
Seriously, give the daily rants a rest 4ap until you can post something sane and sensible without the silly act you put on.
Stew -From your link. “Yes, the arrests took place on Dec 5th. Yes, Boehner was sworn in as Interim president on Dec 6th. Those are facts. I don’t care if you don’t believe me, that’s your choice.”
So who was arrested? Obama? Boehner is now the President? This guy is a loon.
OMG 🙂 You can't even make something like that up. ROFL. 🙂
So 4aprofit's "proof" that the Dinar's "99,900% RV" is "real" consists of linking to someone who claims "Obama was arrested on December 5th 2012"...
... Meanwhile here's Obama at his January 20th 2013 Inaugration:-
http://theobamadiary.com/category/inauguration-2013/
If you eat, sleep and breathe Internet paranoia, you will not "find the real world", you will actually lose all sane contact with it...
There's just nothing anyone can seriously add to this... The cr*p that some people fill their heads with just defies belief... The guy really has zero sense of self-worth, shame or embarrassment... Dear God...
Given the latest posts, I'm highly reluctant to post as I don't believe Mr 4aprofit is of sane mind quoting sources that claim "Obama has been arrested" with a straight face (and who also admits he's a supporter of the NESARA stuff Barry showed the absurdity of earlier (the "40 zeroes gold stash")), but for anyone else who wants "just the facts", as of Dec 2012, America's money supply consists of:-
$2.6tn M0 (banknotes only)
http://research.stlouisfed.org/fred2/series/AMBNS?cid=124
...And $10.3tn M2 (total money)
http://research.stlouisfed.org/fred2/series/M2NS?cid=29
This is the truth. There aren't "quadrillions" of US $ currency at all and never have been. That video 4aprofit linked to is a known fake.
ROFL!!! 🙂 That absurd video in the even more absurd link you posted is a well known fake filmed on a camcorder and originating from Youtube. There is no "SwissIndo" TV station - it's just a name someone made up and can only be found on self-referencing stupid conspiracy sites. When the Asian actor fluffs his lines at 7:30 the cameraman even makes an amateurish Youtube-style hand-sign in front of it, the Indonesian translations are part gibberish, and the "Committee of 300" "World Bank" document is fake with a deliberate joke "Eye of Horus" at the top right of every page. The "signatures" at the bottom are in a separate layer (ie, they were later drawn in and not hand signed at all) and "Tim Geithner's" 'signature' was 1 pixel too high for the layer margin causing it to "jump" to the previous page when converted to a PDF where it's a dead-giveaway fake. LOL... And yet you still fell for it...
It's also why the website you linked to states this:-
"As you may of noticed, RTS is now being fully moderated for the comments. I will no longer allow the Shills and Trolls to use this community as a platform for their negativity and fear monguring."
Or in other more accurate words : "Negativity" being "the truth that makes our lies look bad" and "shills" being "those annoying intelligent people who debunk our stupid amateurish fake videos and photoshopped fake "World Bank" documents"...
Isn't it interesting how all these amateur financial "intel" sites can only survive by outrightly fabricating "evidence" and defending it by being run like a cross between North Korea, Joseph Goebbels and a religious cult?...
Stop reading those stupid conspiracy sites 4aprofit, and get a grip on reality.
Wait a minute guys. 4aprofits guy just might be right. It appears he is the chosen one.
From his site.
“I know its been a while since I’ve posted. I apologize, I am in the midst of creating the Fix the World Organization. This is a Global Organization, that completely redefines a new way of doing business in the New Paradigm.”
LOL...
I’m flabbergasted that someone can post stuff like this and actually draw a following.
What is fake and what is not...most will NEVER know...but you guys got a smidgen of an idea that all of your figures and writing...is all in Vain'...the real figures are NOT for you to see...unless, by chance..it is accidentally unveiled to you...go figure'...lol...
Keep crying and writing boys...(write me another set of books on what CAN'T happen), but when the GLOBAL RESET OF CURRENCIES takes place...it wont matter anymore...then you can sleep at night and not worry over me!...lol...
Hey 4aprofit.
Let's talk seriously now. Enough joking around.
If that guy sends you a package with some red powder in it and says it's cool-aid. Don't drink it.
The jokes on you...when the changeover happens...you'll throw those undies...lol...
The insults need to stop!
It is obvious not a single person has the final answer in this argument. ......Even the 'so called' educated responses appear quite juvenile when taken in context of how complex the situation is!
...Just let it go!
No FactFinder this is not a complex situation.
This is a very simple situation.
Iraq has 70 some trillion dinar
They have $60 some billion in FX reserves to back that dinar.
That’s why their exchange rate is a little over 1000:1.
That is simple math for most people.
The only people who think this is complex is those people who have fallen for all the lies and distortions and BS from con men and scammers selling and pushing dinar who have their hands in the pockets of those they confuse.
Why sooo much worry over a worthless currency?....As some of you call it!...WOW...Must be something there huh?...lol...
!!!!!
STEW,
Your delusions of 'ABSOLUTE' knowledge are of a similar ridiculous nature!
"IF" there is a global realignment in progress, your arguments are at least as juvenile as the wild eyed dreams of unknowing 'gurus' grabbing at every bit of information from the wrong direction.
I sure don't know the absolute truth in this, and it is quite obvious you don't either!
.....Sure, the dinar is going to re denominate for domestic purposes, but that is about the only thing that appears obvious! .....The rest is a mixture of speculation, misinformation, wild eyed dreams, and snip-its of fact that no one has been able to adequately address.
.....It appears appropriate to give up this juvenile argument unless someone can address the entire situation from a position of FACT!
----------------------------------------
P.S. - My own sentiments are that there must be something much bigger than a revaluation of the currency of a war torn, oil rich, third world country at hand! ....The system we know as our current paradigm has all the symptoms of falling apart before our very eyes!
,,,,,The question pertinent to this dialogue is whether or not the dinar has a role in something of that nature,,,,,, and no one has been able to lay those suspicions to rest!
4a-profit - "Keep crying and writing boys"
The only "tears" here are tears of laughter that you genuinely think "Obama has been locked up in prison since December 5th". 🙂 You've gone WAY off the deep end with that one, and have finally revealed your true mindset and the "quality" of your "secret knowledge sources"...
"Fact"Finder -"It is obvious not a single person has the final answer in this argument. ……Even the ‘so called’ educated responses appear quite juvenile when taken in context of how complex the situation is!"
This is nothing more than the usual worn-out BS relativistic appeasement plea of "because I don't understand it, then neither must anyone else so shut up, shut up, shut up" arrogance based plea / cry for appeasement (but only when the facts are against you). It's highly interesting that despite your chosen screen-name, over your past half-dozen posts, all you ever seem to want to do is stop "the naysayers" from talking (even though its 4aprofit who keeps mindlessly restarting the argument every day - and the stupid side of the argument at that - without protest from yourself) without ever actually putting any "facts" up of your own as to why you think we're wrong... Not one single point in one single post on the Dinar have you even attempted to refute - instead hiding behind the same "It's all a big SECRET DUDE!" conspiracy junk straw-man, whilst trying to project a "Mr Neutral" image that is anything but...
Your only recent contribution was to nitpick about terminology you still got wrong - the "cheapness" of a currency in Forex terms refers to its cost of trading, ie, the % of money lost in each buy/sell spread transaction cycle (which for buying Dinar banknotes at typical 15% purchase + 5% sales = 20% commission fees (up to a ludicrous 95% spread for smaller denoms) makes it one of, if not, THE most expensive currency to speculate on). What you actually meant was "weakness". "Cheap" and "weak" are no more interchangeable than "Strong" and "expensive". This is one of those "giveaways" that mark out someone with zero experience in foreign currency speculation.
The "final answer" has already been given as far as the Dinar "RV" scam is concerned. Go and read Barry's posts, Stew's posts, and especially Dr. Keiferland's post in the link below (and the one below it as well) again as to the real world effect of an absurd 100,000% currency movement:-
https://www.iraq-businessnews.com/2012/08/29/7-questions-for-dinar-speculators/comment-page-11/#comment-157884
If you're referring to the "final answer" as to another half-dozen, half-baked, decade old conspiracies (NESARA, "global settlements", etc), you're quite simply on the wrong forum. None of these things have anything to do with Iraq and most originated before we even invaded Iraq - as far back as under Bill Clinton. IBN is for serious tangible investments in Iraq (hence its name - Iraq Business NEWS - not "The Dinar Pumper Clubhouse")... This is the problem you and 4aprofit have been making all along - you hang round sites like "GodLikeProductions" (4aprofit has a profile with them - these are the same people who developed a cult following of conman Tim Turner who declared himself "The REAL President of the USA", gave State Governors "weeks to resign or else I'll send in the Provost Marshalls" (over 3 years ago), then claimed he could "cure leukemia" (before slamming the phone down when a mother of a kid dying of leukaemia phoned in and told him to "put up or shut up"), had his credit accounts shut down for fraud related to TRAP's "ID cards", before being charged with fraud and losing his house in a foreclosure) then you try and carry over similar tinfoil hat stuff to other professional investing forums, demand it be 'treated with respect' then wonder why you get utterly mauled - all aspects - and end up looking more than just silly...
Your earlier comment "I’m still waiting for someone to disprove the concept with more than a ‘conspiracy theory’ remark!" is completely back to front for any genuinely objective "FactFinder" - the burden of proof is on YOU to put up your own facts and prove whatever concept you believe in, not others to "disprove" a concept you haven't even attempted to articulate the concept of beyond "I sort of agree about the Dinar, but it still must be true purely because I want it to be". That's not a "complex, contextual, educated response" - it's a cry for help...
The only "juvenile" responses here are from those who cut and paste the most delusional conspiracies of "Obama is in jail", post obviously fake absurd videos, and those who get angry they have zero facts to back up their beliefs and try and subtly close down the debate out of sheer embarrassment / being taken way out of their comfort zones...
If you want to respond to this, put up some facts of your own (or change your screen name), don't just reply with the usual holier-than-thou "Oh you little people don't "get it" like I do" snobbery to which when challenged you can't even explain what you claim to "get" let alone prove any of it.
*******
Thanks for the responses fellows!
Based on the responses, it is obvious that this thread is hijacked by shills and trolls with an agenda.
.....No further need to waste my time with you!