7 Questions for Dinar Speculators

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 …

763 Responses to 7 Questions for Dinar Speculators

  1. wayne 21st July 2013 at 07:04 #

    Yes Stew they started backing their money in gold just like Kuwait. Passing laws and taking care of issues the same way Kuwait did. Geezz you must never read anything.

  2. FactFinder 21st July 2013 at 09:20 #

    As an observer;

    This has turned into an ‘idiot’ conversation where parties involved don’t even both to respond to items of interest!

    NONE OF THE FLUFF CHANGES THE ‘FACTS’, AND THE NUMERICAL BALANCE SHEET!

    …LOGIC DEMANDS THERE BE A CORRECTION IN THE COUNTRY OF IRAQ’S CURRENCY BEFORE THEY CAN PROCEED WITH THE KIND OF GROWTH A WAR TORN, ENERGY RICH COUNTRY MIGHT ACCOMPLISH!

  3. Stew 21st July 2013 at 17:39 #

    Fantastic Wayne. So now any country that gets some gold and passes a few laws can RV 300,000%.
    How did I miss the obvious link? My bad.

  4. wayne 21st July 2013 at 20:56 #

    Stew, wow how one tracked minded are you? Obviously one rail for that one tracked mind. Hard for you to read between the lines, I guess. Hard for you to read and keep up with it all, maybe you should just stop and give up because you have only one idea in mind and that is to bash Iraq and any news that sounds good out of Iraq. When I have cashed in I will be thinking of just how stupid you really are, if you have any dinar I suggest you sell it all today and call it quits.
    As for me I will not read or post anything else on this site, so good luck to you all that can read and understand what has been put out in many papers and articles out of Iraq.. God Bless the USA!!

  5. Stew 22nd July 2013 at 02:12 #

    I’m bummed Wayne is leaving. Someone who thinks since Iraq can cover their currency 2 ½ times with reserves means they can increase their exchange rate 2900 times… that’s entertainment that’s hard to find.

  6. Todd 23rd July 2013 at 07:04 #

    I think this simple. They will lop the three zeros (as stated many times) bringing it to a 1-1 (Or close to that )with our dollar and then float it. In time (years?)we will see 1 dinar = 3 to 4 $U.S. . Bringing us a nice 3-4 hundred percent profit. Remember our buy cost average is 25k dinar = $25. The lop will instantly give the Iraq citizens more purchasing power as they were promised. This is about the Iraq people not us. The gurus are salesmen keeping people excited making a buck off their website advertising & dinar brokers. They know (brokers) the people won’t be patient any longer (after many years of waiting for their massive profit) & sell their dinar back at a loss. Our money was used to help get Iraq back to a functioning government & hopefully give credence to our dead & wounded. I’ll be happy with my 300-400 percent profit. FYI, I didn’t buy until April this year because I wanted to wait untill they were close to release of Ch7.

  7. King 30th July 2013 at 21:24 #

    lol Wayne is truly an imbecile. stop trying to compare Kuwait and Iraq….it’s not the same and never will be the same.

    And Todd….wth? a LOP will NOT bring it 1-1 with the dollar….it will drop three zeroes and bring a 1000-1 with a dinar note. It has NOTHING to do with the exchange rate.

    PEOPLE PEOPLE PEOPLE……there are other countries with MORE resources and goods than Iraq and their currency is no where near the dollar. If what the liars say about Iraq is true then EVERY OTHER COUNTRY would be doing the same thing to their currencies. It’s just not that simple. And Iraq will have to have a stable government before the WTO will let them play ball.

  8. 4aprofit 30th July 2013 at 22:49 #

    Bloomberg – 6/27/13 – Is Now The Time To Invest In Iraq

    http://www.bloomberg.com/video/is-now-the-time-to-invest-in-iraq-r2D3IjMARVyle1hrpfBa1g.html

  9. 4aprofit 30th July 2013 at 22:53 #

    FOX Business News: Should you invest in Iraq

    http://video.foxbusiness.com/v/2567683635001/should-you-invest-in-iraq/?playlist_id=937116503001

  10. brian wells 27th September 2013 at 18:13 #

    The only thing that is going to occur is the Iraqi Dinar returning to at least it’s 1990 value of $3.22. Iraq possesses 37% of the world’s oil, 637 trillion cubic yards of natural gas, a mountain made of diamonds and the world’s biggest vein of gold has been discovered under the streets of Baghdad; and only 40% of the country the size of France has been surveyed. Do you really think that the Dinar will remain a sheet of toilet paper.

  11. Sam I Am 30th September 2013 at 12:57 #

    Brian – Even if all of that is true (which it isn’t) there’s no reason to believe that it will translate into a higher value for the IQD. Currency is not stock. It doesn’t go up in value just because the economy is growing. The CBI’s policy is a stable exchange rate, so even if they discover a $10 trillion worth of gold, diamonds, platinum, oil, gas …. etc. They’ll probably just increase the money supply like they’ve been doing rather than raise the dinar’s value.

  12. brian wells 30th September 2013 at 13:23 #

    It is all true. Yes I remember you Sam. You work for a government agency trying to stop people like us buying IQD

  13. brian wells 30th September 2013 at 13:25 #

    Sam , if you don’t believe the IQD will RV why do you trawl all the dinar sites. This is the fourth site i have found you in. Why don’t you just get on with your life?

  14. Sam I Am 30th September 2013 at 18:08 #

    Really? A government agency out to stop people from buying IQD? If the government wanted to discourage speculation in the IQD they could do a lot better than paying somebody like me to post on dinar sites. They could start arresting more scammers or shut down the dinar dealers for starters. I don’t “trawl” all the dinar sites. I received an email notifying me that somebody posted on this thread so I read it and responded. It doesn’t take but a few minutes to do that so I am well able to “get on with my life”. The reason I post is to counter the BS that people like you post which could influence somebody else to spend their hard earned money on a hard currency scam. I could just as easily ask you why you post. If you’re so sold on the big RV why don’t you just spend your free time test driving new luxury cars and researching all of the exotic locations you’ll go after the RV? Maybe you “trawl” because you want some sort of reassurance?

  15. Rasica 24th October 2013 at 01:15 #

    The IQD has not been released to their GDP/GNP as of yet, it is under ‘tight government monetary control’. This is why their inflation is one of the lowest in the world ~ they are basically unencumbered to international economic pressures as far as currency nominal value is concerned.

    They are not recognized by the international community, soon they maybe. If they do, their currency must be pegged to their GDP/GNP under supply demand forces.

    In the blink of an eye their $3.22 per USD was brought to near zero and the new IQD was printed and used in auctions while they rebuilt their country. With windfalls from oil they repurchased the M0 ‘physical supply’ from the market place while the M2 fractional ‘digital circulation’ increased.

    To suggest that their currency is too good to be true to 1000 times is a red herring.

    People who purchased the IQD did so by Presidential Executive Order and Internal Iraqi Laws allowing to U.S. citizens hold the ‘physical paper’ of Iraq which is ascribed an ‘arbitrary value’ by the government that is also on the open market of Iraq.

    People who are holding IQD are basically holding funny money until Iraq ‘releases’ the IQD back to the GDP/GNP and quit possibly under Keynesian Economics it maybe based not on the present value of the Iraq GDP/GNP but upon a future speculative Iraq GNP/GDP. This decision is a political one if done upon Keynesian ‘mafia’ Economics.

    As in the blink of an eye it devalued/disconnected from $3.22/USD it will in the future by a blink of an eye be reconnected to the GDP/GNP for the International Community.

    You see, the previous $3.22 value went no where, it was simply transferred to the U.N. while under sanctions and they instituted a new currency.

    If its too good to be true that the U.S. President signed the executive order invest into Iraq during its rebuilding phase then those who think so ‘so be it’.

    Simply ask yourselves, how many times does a country get erased to completely start over. This is a once in a life time opportunity to invest into such a happening.

    Question number 2 was interesting.

    Would you buy dinars at 1,000 times the current price? If not, why do you expect someone to buy your dinars at 1,000 times what you paid for them?

    Answer:
    Because we simply bought the paper that will soon be restored to Iraq’s GDP/GNP by authority of Presidential Order given to The U.S. Citizen while our we spilt our blood & treasure.

    Is that worth a 1,000 times? The Answer is NO, it is worth an ‘Infinite’ times.

    Do not get caught up in the disconnects about what the IQD is really about. To the Iraqi citizen it is about stability and to us M0 IQD holders its an investment of not only our personal money, but most importantly about our Blood & Treasure.

    The revalue of the IQD is not a real economic revaluation it is really all about ‘reconnecting’ the new IQD once again to their previous war time value.

    This was codified by The U.N. Security Council this summer when they stated Iraq was ‘loosely’ released from Chapter 7 and that they expected Iraq to soon be back to their International Standing as they were before the wars.

    Could they just keep their nominal value at .0009 aka; 1165? Sure, S. Korea operates at the same level Iraq does, but they are primarily an importing country.

    The U.N. codification statement is contrary to that type of thinking of operating like S. Korea they are expected to reconnect to their previous International Community Standing. This time though, there are far more countries inside Iraq pumping oil and handling their oil transactions using the ‘petrodollar’.

    It is time now to allow the Iraqi citizens their stability and The U.S. Citizens the benefit of their investment in the IQD.

    Always remember the M0 is ‘physical’ supply of IQD M1 is fractional ‘circulation’ and M2 is increased fractional ‘circulation’. Fractional basically meaning banks loaning more money then there is based upon the M0. Derivative paper ~ its all banking nonsense.

    U.S. M0 is around 10 Trillion now and their M2 is somewhere in outer space. :O)

  16. Sam I Am 24th October 2013 at 01:46 #

    “As in the blink of an eye it devalued/disconnected from $3.22/USD it will in the future by a blink of an eye be reconnected to the GDP/GNP for the International Community.

    You see, the previous $3.22 value went no where, it was simply transferred to the U.N. while under sanctions and they instituted a new currency.

    If its too good to be true that the U.S. President signed the executive order invest into Iraq during its rebuilding phase then those who think so ‘so be it’.”

    The dinar’s value before the war was considerably less than it is now. In fact you’d have to go back nearly 30 years to find a legitimate value of $3 or more for the Iraqi dinar. And EO13303 says nothing about the dinar or currency at all. It’s about protecting the DFI. People are going to prison for telling lies like this. You might want to reconsider.

  17. Stew 24th October 2013 at 05:25 #

    Rasica is a big penny stock pumper from way back.
    He use to post this nonsense on IHUB (penny stock board) years ago. He originally claimed that the dinar was pegged to the GNP and not the GDP. When I schooled him on the idiocy of that claim and explained to him the difference between GNP/GDP he quickly changed to this crap. Funny thing is if you compare Iraq’s money supply to GDP ratio they are perfectly in line with all other countries in the world. Proving Rasica is still pushing the same nonsense years later.

  18. Stew 24th October 2013 at 05:30 #

    Look at this, Rasica from 2008
    http://investorshub.advfn.com/boards/read_msg.aspx?message_id=30011811

  19. Barry 25th October 2013 at 10:51 #

    Rasica – “The IQD has not been released to their GDP/GNP”

    You copy and paste the same meaningless gibberish (which sounds impressive to you maybe) word for word, year after year. It’s as totally debunked & utterly nonsensical now as it was back then…

    Iraq’s previous $3.22 value is “being kept” in the same place as $20/oz gold prices and $25k 3-bedroom houses – back in the 1970-80’s – 30-40 years out of date and almost completely divorced from the reality of Iraq’s 2013 modern $80,000bn Dinar money supply backed by only $70bn FX reserves and a $125bn economy (including every drop of oil sold each year)…

  20. Geno 1st November 2013 at 03:27 #

    I was just thinkin.
    It just seems to me that the CBI would profit the most when the exchange rate goes up because they have more than any one and the ability to get more.

    So I believe just as soon as they can legally raise the rate they will.

    Just as the Currency was devalued for the purpose of cutting off trade to defeat the Nation. It will be revalued for the purpose of opening trade back up to rebuild the Nation.

    Just me thinkin.

    Geno

  21. FactFinder 4th November 2013 at 16:28 #

    Those are nice thoughts Geno, but the fact is that the dinar was devalued over time based on excessive printing and borrowing during Saddam’s rule and the wars he financed.

    …..The world at large has known exactly what has gone on, and the value of the dinar reflected the reckless policies of a power hungry tyrant.

    …Also, the CBI will not make any profits whatsoever in a re denomination(which is what current news is reporting), because the action is revenue neutral. …Many are anticipating some appreciation following the re denomination, which might generate a small profit situation for speculators.

    ….When the 3-zero bills disappear, the chance for huge profits evaporates!

  22. Geno 6th November 2013 at 15:51 #

    FactFinder

    Prior to United Nations sanctions, the Iraqi dinar traded at 3.35 per U.S. dollar, and prior to the war in Iraq, the Iraqi dinar traded at .33 U.S. Dollars. During major combat operations, the Iraqi dinar declined to an all time low. However, after major combat operations, the value of the dinar increased 25%. Countries such as Germany (post WWII) and Kuwait (post Iraqi invasion) experienced a similar devaluation of their currency, but both countries recovered.

    The dinar will recover also and it will as it was meant to do revalue
    for a purpose that is intended to bring about a global change for one world currency and then one world government.

    The Goal of the plan is to trap all the nations to be dependent upon what they control so as to govern the nations as they see fit.

    I believe the RV will give all nations a new start or a O balance in some sort of way so that the New Currency will have its start
    to begin its control over all.

    I believe currency is at the root of all evil and it will be used to gain what is worth more than gold and that is the soul’s of men.

    The dinar is a carrot so to speak that will lead all nations to participate then after all has been done the truth will be revealed.

    Just me thinkin. Geno

  23. Sam I Am 6th November 2013 at 17:02 #

    The CBI website tells us that the Saddam dinar declined in value to 3000 dinar to $1 USD back in 1995. It’s hard to say what the value was at the time of invasion since there are no hard numbers on that, but it’s pretty clear that it was considerably less than 33 cents. Germany’s currency didn’t “recover” after WWII. The reichsmark depreciated during the war and was replaced by the deutschemark in a redenomination similar to what Iraq is planning. As for the Kuwaiti dinar there was no devaluation or revaluation. The official value was always listed above $3. What declined was the black market value during Saddam’s occupation. The reason the IQD increased in value from 2006-2009 had nothing to do with their GDP or economic recovery. They purposely raised the value during that time to bring the inflation rate down. Once it was below 10% they stabilized the exchange rate. There is no recovery forthcoming. They want the value right where it is and will keep it around a tenth of a penny until they replace it in a redenomination which is a revenue neutral event. You’re entitled to your views on eschatology and economics, but the above is all factual and verifiable.

  24. Stew 6th November 2013 at 17:48 #

    Isn’t it stunning that 10 years into this this scam, people still show up telling lies that were debunked 7 or 8 years ago.

    Geno. These claims and many others were proven lies years ago on open dinar forums. It was bad for business and dreamer morale. So the scammers kicked out truth tellers and heavily moderated all dinar boards to hide the facts and continue to spread the lies and misinformation. You are simply proof that their plan worked.

    It was the summer of 2007 that Iraq first announced in the press that they were going to redenominate. I thought for sure that the scam was over at that time. Surely anyone involved would read about redenominations and understand that holding dinar was a bad idea. Little did I know that the scammers would be able to twist the meaning of a redenomination into a good thing. Even though in every single instance of over 100 redenominations in the past, not a penny could be made in any, and in many cases people who held the currency lost large percentages. Not one single redenomination in history has played out like the scammers claim will happen.
    Moral is… never ever underestimate the ignorance and gullibility of the average Joe/Jane, for the saying is true, a fool and his money are soon parted.

  25. Geno 7th November 2013 at 04:12 #

    After the Second World War, the Reichsmark continued to circulate in Germany, but with new banknotes (Allied Occupation Marks) printed in the U.S. and in the Soviet Zone, as well as with coins (without swastikas). In practice, the currency was nearly worthless and largely supplanted by a barter economy (commonly, “cigarette currency”). The Reichsmark was replaced in June 1948 by the Deutsche Mark in the Trizone (three western occupation zones) and (in the Soviet Occupation Zone) later in the same year by the East German Mark (colloquially also “Ostmark”, since 1968 officially “Mark der DDR”) in East Germany. The 1948 currency reform under the direction of Ludwig Erhard is considered the beginning of the West German economic recovery; however, the SECRET PLAN to introduce the Deutsche Mark in the Trizone was formulated by economist Edward A. Tenenbaum of the U.S. military government, and was executed abruptly on 21 June 1948. Three days later, the new currency also replaced the Reichsmark in the three Western sectors of Berlin. In November 1945, the Reichsmark was superseded by the Allied Military Schilling in Austria. In 1947. a local currency was introduced in the Saar.

    Only time will tell but let us ponder of what will happen over yonder
    when one day we see the secret of the RV.

    Just me thinkin the risk is small and a fool would be the one that could but never tried at all.

    Geno Out

  26. Stew 7th November 2013 at 16:04 #

    Geno… you missed a key part. The old Mark was exchanged for the new mark at a rate of 10:1. The most people were allowed to exchange was 1000 old, which would get you 100 new. So even if you had millions of the old Marks, you only got 100 new Marks. Many people lost a lot of wealth.
    Is that what you want Iraq to do? Take your millions of dinar and give you 100 new dinar?

  27. Geno 20th November 2013 at 21:35 #

    Stew,

    Do you have any Dinar?

    Noah built an ark and told everyone water was going to fall from the sky
    and no one believed him because it had never happened before.

    It would have been wise just to have built a boat with a top just in case you needed it back then.

    With the dinar its like the lottery. I never played but when everyone at work would pitch in 5 bucks and buy as many chances as they could
    I took the risk because if they got lucky and hit the lottery I would have kicked myself for a long time.

    So my advice to you is if you do not have any buy some.

    Because I think you think you know everything concerning this matter and you might.

    But never say that something cant happen.

    GOD Bless You

    Geno

  28. keith 19th December 2013 at 14:42 #

    All this back and forth bickering and every bodies history knowledge and economics knowledge is meaningless.I purchased some dinar way back when knowing it was a risk. My life does not depend on whether it revalues or not, if it does it does and if it doesn’t it doesn’t.

  29. Erigin 9th January 2014 at 15:32 #

    Although I do think 1000X is out of the picture. You have to look at it as an investment. All we’re looking for is for it gain in value. Iraq at some point will need more buying power with their currency.
    E

  30. James 10th January 2014 at 22:17 #

    I don’t care if it gose to $3.32 I will take .25cents

  31. Trena 2nd August 2014 at 20:20 #

    Can anyone tell me if Iraq has to join World Trade Organization prior to RV or do dinars have to RV before Iraq can join WTO? Thanks so much!

  32. Sam I Am 6th August 2014 at 23:34 #

    Trena, the Central Bank of Iraq has already revalued the IQD many times without being a member of the WTO. They raised the value a total of about 25% from 2006 to 2009. They don’t have to revalue to join the WTO and they don’t have to join the WTO to revalue. That’s all guru BS. Revaluations are just small adjustments to pegged currencies like the dinar, and nobody gets rich from revaluations.

  33. LZ 7th August 2014 at 00:22 #

    Santa Claus will handle it!

  34. ruth 20th August 2014 at 02:16 #

    We were not meant to know about this investment with the Iraqi Dinar. Interesting that many Governments have bought Trillions of Dinars, including the Democratic machine in the US. Its also interesting that there are over a hundred countries waiting for this RV. Interesting also that Obama referred to those who are investors as the “new” millionairs eh! I guess all the Traders in this investment are open to litigation, because they offer up a scam to the public eh? I guess their too dumb to allow themselves to be taken for a ride, as supposedly are the unsuspecting investors…..I guess Iraq is too stupid to allow herself to be open to Litigation also eh? she didnt learn from Kuwaite?? How many countries do you know, have openly and fraudulently oppened themselves to commmit Fraud, as the world watches?? How stupid do you think Iraqi are?? Oh, and btw, the US Fiat is not worth the paper its written on, it in itself is fraudulent, and you mark it up against the Dinar? How stupid is that? Where did we get the idea that the Dinar would RV alongside a Fiat currency that has no value? The TRN is ready to roll out, and its value will be set, goodbye to the US fiat worthless paper!

  35. Barry 20th August 2014 at 08:35 #

    ruth – “We were not meant to know about this investment with the Iraqi Dinar.”

    Right so that’s why it’s plastered all over the net, why mainstream TV channels, newspaper & magazines have commented on the scam, why the CBI, IMF, World Bank, SIGIR, Iraqi Parliament, Iraqi Economic & Finance Committee have all spoken about it – “it’s all a big secret”. 😀 This stuff is guru scammer propaganda designed to stroke people’s “feeling special about knowing a ‘secret'” ego’s into keeping them hooked on fabricated “secret intel”. That’s why so many “RV” scam victims want to believe they’re the “chosen ones” or endlessly try and make others feel “jealous” of their ‘investment’. 🙂

    ruth – “Interesting that many Governments have bought Trillions of Dinars”

    They haven’t. This is a guru lie that’s already been totally debunked inside a court room.

    ruth – “Interesting also that Obama referred to those who are investors as the “new” millionairs”

    He didn’t. Another guru lie.

    ruth – “Oh, and btw, the US Fiat is not worth the paper its written on”

    LOL. ALL paper of ALL currencies is fiat including the Dinar which is pegged to the USD and is even more overprinted fiat than the Federal Reserve’s expansion of the USD. No-one’s been on the gold standard since 1971. Unless you own ingot’s of gold, then 100% of your money is “unbacked fiat” too, USD & IQD alike.

    You’re obviously struggling to understand the basics, so let’s explain the truth simply:-

    The Dinar started to fall in value since the 1980’s from printing too much money no different to anyone else. That’s called “chronic inflation”. Even by 1991 (First Gulf War) its value was under 10:1. By 1994 it was under 400:1 vs the $. Iraq’s inflation rate peaked at 315% for almost a decade. Bread costs 1 Dinar one year, then 4 Dinar the next, then 17 Dinar, then 71 Dinar, then 294 Dinar, then 928 Dinar, etc. Today Iraqi bread is over 1,250 Dinar due to inflation.

    You can verify these natural devaluation from expanding the money supply figures your “guru’s” don’t want you to see for yourself here:-

    Year = Money Supply / FX-Rate vs USD
    1991 = 24.7bn / $1 = 10 IQD
    1992 = 43.9bn / $1 = 21 IQD
    1993 = 86.4bn / $1 = 74 IQD
    1994 = 239bn / $1 = 458 IQD
    1995 = 705bn / $1 = 1674 IQD
    1996 = 960bn / $1 = 1170 IQD
    1997 = 1.0tn / $1 = 1471 IQD
    1998 = 1.3tn / $1 = 1620 IQD
    1999 = 1.5tn / $1 = 1972 IQD
    2000 = 1.7tn / $1 = 1930 IQD
    2001 = 2.1tn / $1 = 1929 IQD
    2002 = 3.0tn / $1 = 1957 IQD
    2003 = 3.8tn / $1 = 3500 IQD
    2004 – 12.2tn / $1 = 1461 IQD
    2005 – 14.7tn / $1 = 1470 IQD
    2006 – 21.1tn / $1 = 1470 IQD
    2007 – 23.5tn / $1 = 1232 IQD
    2008 – 27.0tn / $1 = 1186 IQD
    2009 – 34.9tn / $1 = 1153 IQD
    2010 – 45.4tn / $1 = 1169 IQD
    2011 – 60.4tn / $1 = 1166 IQD
    2012 – 75.5tn / $1 = 1166 IQD
    2013 – 87.8tn / $1 = 1166 IQD
    2014 – 87.4tn / $1 = 1166 IQD

    http://www.cbi.iq/documents/Annual_2002f.pdf

    The Dinar wasn’t “worth $3 up to the 2003 war”. That is one giant guru lie repeated ad nauseum. It wasn’t even worth that when the FIRST Gulf War began in 1991! Another giant lie is the “Kuwaiti RV” which also didn’t happen. Today the Dinar’s 1166:1 rate is normal and stable because Iraq have printed 87 trillion Dinar but have only $80-90 billion Dollars to back it with, ie, less than $1 currency reserves (in USD & gold) for every 1,000 Dinar issued. They’ve continued to print more money but the rate is stable because they’ve continued to add to CBI reserves at roughly the same rate.

    Iraq were planning a 3-zero redenomination (lop), and the scammers created an industry out of misrepresenting that as some “magic bean” get rich quick scam to the gullible who don’t understand very little about foreign currencies and how they are valued. In reality, the Iraqi Dinar simply isn’t “unfairly undervalued” at all, and Iraq would bankrupt themselves in 5 seconds flat if they tried to “buy back” those Dinar for 3,500x more than they issued for (which is the absurd “RV” claim in a nutshell). Every bank in Iraq would run out of $ before everyone “cashed in” even 0.03% of their Dinar.

    The delusional “$3-30 rate” (350,000-3,500,000% appreciation) figures thrown around are equal to 4-40x Planet Earth size economies. A 1,250 Dinar loaf of bread “declared” to be worth $3.5 per Dinar without lopping would end up with stupid international price tags of $5,100. If you sold your car for $10,000 then bought it back for $35,000,000, would that make you better off? Think about that for more than 5 seconds without laughing. In reality, the largest ever “RV” was around 30%. Iraq have a 10-15% headroom at most before they run out of USD’s / gold. Common sense is a wonderful thing (as is a basic grasp of inflation & currency redenominations that have been done around 70x before by dozens of other countries…) 😉

  36. brian wells 20th August 2014 at 09:16 #

    I want to know why Sam I Am and others like him have been loitering around numerous dinar web sites for at least 4 years if they have no personal interest in the revaluation of the Iraqi Dinar. All Sam has been doing the last 4 years is trying to dissuade people from buying dinar or selling what they have already got. WHY ARE YOU HANGING AROUND SAM AND WHAT IS YOUR PURPOSE?

  37. Barry 20th August 2014 at 09:52 #

    brian wells – “I want to know why Sam I Am and others like him have been loitering around numerous dinar web sites for at least 4 years if they have no personal interest in the revaluation of the Iraqi Dinar.”

    First there is no “reevaluation” of the Dinar they way pumpers are promoting it. Iraq were planning to redenominate (lop) 3 zeros (and still are in the long run), but have since delayed it due to obvious security concerns. Their policy is simply a continued stable rate of the Dinar vs USD as they’ve stated dozens of times before (ie, remaining at 1166:1).

    As to why we “loiter” (presumably you mean “debate in a debate forum like normal people do”)? The answer is that we don’t like scammers. It’s that simple. Go to realscam.com and ask people there why the “bash scammers”. Answer : Honest people don’t like scams or the scammers who run them. People who “bash” the Dinar also happily “bash” 419 Advance Fee Fraud (Nigerian Prince e-mails), phishing, pyramid schemes, Ponzi schemes, ‘boiler room’ scams, credit card fraud, “miracle” pharmaceuticals, MLM ‘matrix’ chain letter businesses, and door to door “workmen” preying on little old ladies. How “shocking” is that “attitude”? 😉

    A better question is “Why is it whenever Dinar ‘investors’ are given some serious facts on the true history of the Dinar that totally debunk RV guru’s lies, can they do nothing more than shoot the messenger, endlessly attack other people’s natural right to post, cry out for censorship in uncensored forums like these (guru run forums are already heavily censored) and throw around weird “WHAT IS YOUR REAL AGENDA” paranoid conspiracies in all caps?” And the answer to that is – fear (of being wrong) and pride (of not wanting to admit you were scammed)…

    People who understand the bogus maths & economics behind the “RV” scam talk about it with sourced links to back up what they say. People who don’t just sit there and attack other people’s right to post. How very interesting that the latter are more frightened of honest, open uncensored debate in reality than the former…

  38. kev 20th August 2014 at 10:00 #

    brian wells: “I want to know why Sam I Am and others like him have been loitering around numerous dinar web sites for at least 4 years if they have no personal interest in the revaluation of the Iraqi Dinar.”

    Translation : “Like many Dinar ‘investors’, I Brian Wells, get upset when I read some facts that debunk my cult of personality guru’s many proven false claims to which I have no answer to because the facts are not on my side. So instead I’ll just mindlessly attack the person who posted instead to make myself feel less worried and stave off cognitive dissonance a while longer…”

    This seems to be the standard response from ‘investors’ who know deep down something isn’t right with the guru’s amazing past 1,792 failed predictions and excuses that change week by week, yet still aren’t ready to admit the obvious to themselves. 😉

  39. brian wells 20th August 2014 at 10:23 #

    Kev, you haven’t answered my question, why are these nay sayers hanging around for over 4 years? Haven’t they got their own lives to get on with? ………… Anyway, there is now a new fresh democratic government in Baghdad, fully inclusive with a complete mix of Sunnis, Shias and Kurds. Maliki has gone, a new popular Prime Minister is in place and the scene is set for a revaluation of the IQD. Dr Shabibi and now CBI Governor have always stated that they would not RV the dinar until Maliki goes and there is a “peoples” government in place. The Kurds, Shias and Sunnis are all pleased with their new government. Turki has said that he will RV the IQD when the new members of parliament are announced on Monday 25th August 2014, or even before. This impending RV is for the poverty stricken people of Iraq, we are just fortunate, soon to be wealthy, hangers on.

  40. kev 20th August 2014 at 12:13 #

    brian – “Kev, you haven’t answered my question”

    I did answer your question Brian (as did Barry above, who nailed it perfectly) – you just ignored it because you didn’t like the answer.

    Reality check : People visit many different sites. I regularly visit over 15 forums on a wide range of topics from tech sites, computer gaming, financial / investment sites, astronomy, other hobbies, etc. The only reason we appear to “hang round Dinar sites constantly” is ironically because Dinar investors like yourself spend almost all of your time hanging round Dinar sites to the point of obsession, and that’s the only sites you see us at unless our other interests / hobbies overlap and you happen to “bump” into us elsewhere on unrelated topics. I average less than 1 post per month here on IBN. Compare that to some Dinarians who churn out over 30 posts per DAY on their fantasy “RV” guru forums then laughably call others “obsessed” when the facts are against them. 🙂

    We hear exactly the same regurgitated dumb guru slogans by their sheep (“Why do you post?”, “I bet you must secretly own Dinar”, “You’re a paid dumper govt agent”) as some lame attempt at “debate” (or rather shutting down fact-based debate with petty ad hominems) whenever ‘investors’ get taken out of their debating comfort zones with the facts. Reading between the lines, what you want isn’t a “debate” at all, it’s a comfort blanket. To be surrounded by “yes men” forum buddies who all blindly parrot what you want to hear & believe in. That’s why guru owned forms are run virtually like religious cults with an underlying “us vs ‘naysayer outsiders'” cult like mindsets, and “ban-happy” moderators (who make up to $4,000 per week pumping Dinar sales) with one finger permanently tapping the “delete” key. The fact you used the word “naysayer” (ie, one of the 99.9% of humanity who aren’t sucked into the scam) simply reveals precisely that underlying mindset. And they all react with the same ‘shock’ and show the same “how dare you say what I don’t want to hear” panic reaction when they “bump heads” with us normal people wise to the scam, as if you “own the Internet”. In short – you’re p*ssed that we’re “daring” to post without your “permission” AT ALL simply because the facts upset you. And the rest of your post is empty guru waffle & fake guru manufactured “quotes” that has zero to do with Iraq’s redenomination.

    Rather than reply to this today, simply come back next Tuesday when nothing has happened and we’ll continue from there starting with how silly people make themselves look quoting manufactured guru dates & rates that come and go 2,500x over, “imminent RV” every 3 days since 2006, all whilst ignoring the one thing that matters – the Iraqi Dinar fell 4,000x in value because Iraq has printed 4,000x more money since then (from 20bn Dinar to 87,700bn Dinar). The “hidden wealth” you’re fantasizing about “restoring” is nothing more than confused nostalgia over Iraq’s 1990’s chronic inflation. 🙂

  41. Barry 20th August 2014 at 12:55 #

    brian – “Turki has said that he will RV the IQD when the new members of parliament are announced on Monday 25th August 2014, or even before.”

    Look ma – another “this week” guru date and made-up “quote”! It must be true, I read it on the net! LOL. You’ll wake up eventually my friend as to why you haven’t made any profit after 5 years of “Hopium”, yet Dinar sellers like “Ali” (of Dinar Trade) are now millionaires – not from holding Dinar, but from getting rid of them by selling $860 worth of inflated banknotes for over $1,000 on the back of a fake dream, then buying them back for $700 when they wake up and get out of the scam, then recycling them over & over to new scam victims, taking a $300 cut per $1k of notes they move each “cycle”. And that’s just the big 25,000 notes – the same scammers are selling $860 worth of smaller denominations for $9,500. Can you imagine being charged $148 for each 1x €10 Euro note when the exchange rate is 1.33:1? Gee no obvious cowboy scam there… 😉

    Either you understand how currencies work (the more you print the more each one gets diluted relative to other countries & foreign exchange reserves, Iraq no exception) or you don’t. And if you don’t, then you’re the perfect “mark” for the “RV” scam. Iraq doesn’t have 4-40x planet Earth’s worth of Dollars to “buy back” their tens of trillions of Dinar at deluded guru scam rates. They have around $80-90bn max in Dollars & gold to “buy back” 87,700bn Dinar with a desired 10-15% “headroom”. Not a very difficult concept to understand why the rate is and will continue to remain around 1160-1170:1 (unless they lop at which point the new non-secretive rate will be 1.16-1.17:1 but you won’t make any money on that either). 😀

    As for “what Iraq are really saying” try these which haven’t been “reinterpreted” by guru’s via Google Translate:-

    “Mahma Khalil, Member of the Iraqi Parliament and official spokesperson of the Economic Committee added the exchange rate between the new banknotes and the old ones would be 1:1,000.” – Iraqi Parliament & Economic Committee

    “CBI has announced that it intends to implement a long-planned redenomination of the Iraqi dinar by eliminating three zeros from the nominal value of bank notes.” – SIGIR quarterly reports

    “Deputy chairman of the CBI Dr Muzher Saleh said the new currency will be printed after deleting three zeros. This will include a new 50 Dinar bill with a value of $43″ (50,000 current note Dinar) – CBI

    “…The Iraqi currency will change the face value of the dinar and not the real value as measured by the value of Iraqi dinar against the dollar and gold” – Iraqi Finance Committee

    “Iraqi economists believe the re-denomination of Iraqi Dinar will not have a major influence on the purchasing power of the Iraqi Dinar” – CBI

    “This experience [redenomination] had previously been applied in countries such as Turkey…” – CBI

    “The Iraqi currency change will not have any effect on the international value of the Iraqi dinar and economy” – CBI

    “The step to delete zeros is merely an administrative process, and the currency equation should remain the same. This means that the purchasing power of the new currency should be equal to that of the old currency” – Iraqi North Bank

    “The deletion of zeros will not affect the Iraqi dinar’s purchasing power” – Ahmed Faizullah, deputy head of the Iraqi Parliamentary Finance Committee

    A rather more clear, consistent, honest & directly sourced description compared to the fake “song” the guru’s are “singing” to talk up their own Dinar sales revenue…

    I wish you all the best Brian. Different people sucked into this absurd foreign currency scam typically awaken at different times & speeds. If you do not understand / are not ready for the above information now, then simply save it as you will probably start to grasp it all at some point in the future, even though you may not agree with that now. 🙂

  42. karen belford 20th August 2014 at 15:21 #

    Brian is correct. There must be a reason why a person like Kev and Siam would spend hours composing replies and comments on this web site if they have no personal involvement in the RV. And a devious reason at that.

  43. kev 20th August 2014 at 15:56 #

    Karen – “There must be a reason why a person like Kev and Siam would spend hours composing replies and comments”

    Yes dear, it’s called “telling the truth”… 😀

  44. karen belford 20th August 2014 at 16:28 #

    KEV, So why are you so concerned? What are you doing on this site if you don’t have a particular reason. You and the others are here for a purpose otherwise you would get on with your lives. You have convinced me that you have something to hide and the Iraqi Dinar is going to revalue to it’s correct and natural value of $3.22 plus 20% for inflation, very probably next week when the new Iraqi government is announced.

  45. brian wells 20th August 2014 at 16:36 #

    Kevin, I agree with Karen, the only people who should naturally be visiting dinar web sites are people with a genuine interest, ie:- possessors of dinars. It is very strange that a person like you who does not possess any dinars should be regularly visiting these sites. I suggest you report back to your government agency and tell them that you have failed to persuade Karen and me and any other dinarians who may have come across this site whilst surfing.

  46. Sam I Am 20th August 2014 at 16:44 #

    brian wells says:

    “I want to know why Sam I Am and others like him have been loitering around numerous dinar web sites for at least 4 years if they have no personal interest in the revaluation of the Iraqi Dinar. All Sam has been doing the last 4 years is trying to dissuade people from buying dinar or selling what they have already got. WHY ARE YOU HANGING AROUND SAM AND WHAT IS YOUR PURPOSE?”

    I had a personal interest for a couple of years. I owned millions of dinar because I was led to believe that a revaluation like the gurus were talking about was a possibility and in fact had occurred at least twice before. I was told that “deleting three zeros” meant removing the larger 3-zero notes from circulation in preparation for “the RV”. I was told that the US Treasury had trillions of dinar. I was told that Bush said that the Iraq war would pay for itself. I was told that EO13303 gives investors the right to own dinar. I was told that the dinar was devalued prior to the war as a strategic move. ALL LIES!!! When I discovered that I had been lied to about all of these things I knew that the RV was a scam, and that the people promoting it were scammers.

    You ask why I do what I do? I’ll tell you. I was pissed! Not only was I mad at the scammers but I was also upset that the information I needed as an investor wasn’t readily available. That’s why I started my blog. I think it’s human nature to warn people when you see that they’re headed for disaster. I could no more walk away from the RV scam than I could walk away from a bridge that had washed out. I decided to hang around and warn people until the authorities show up to close it down.

    For the record I have never told anybody not to buy dinar or to sell what they have. I just give them the facts and hope they use the sense God gave them to make the right choices with those facts. I’ve pretty much lost interest at this point, but I’m leaving my blog up because the information contained in it is vitally important to anybody considering buying dinar.

    As for the new government in Iraq, I couldn’t be happier. Not only will it give Iraq a chance at salvaging their fragile democracy but it will also hopefully drive the final nail in the coffin of the RV scam as the new administration fails to “pull the trigger”. Maliki wasn’t the holdup. Shabibi wasn’t the holdup. Obama isn’t the holdup. The only thing holding back the RV is the fact that there never was any RV in the works to begin with. It was always and will always be a lie to take advantage of inexperienced currency speculators. Pegged currencies do not skyrocket in value. They are pegged for a reason – to maintain stability. As long as the IQD is valid its value will hover around a tenth of a penny, and NOBODY will get rich by owning it.

  47. brian wells 20th August 2014 at 16:55 #

    Sam I Am, and who told you all those facts were lies? And why do you never show up on dinar recaps and the other sites, are you banned? The gurus there sound a lot more convincing than you and your comrades. I still don’t believe that you are here because you are pissed, I have read your entries for the last 4 years and i think that if what you say is true about your reasons for being here, i would have been bored after a week and found another hobby like golf

  48. Stew 20th August 2014 at 17:09 #

    “$3.22 plus 20% for inflation”

    Good lord.
    That’s $3.864

    Karen, you are a dinar pumpers dream come true.
    Lets look at hard cold cash.
    As of now all the currency in the world, add all countries together, their currency in circulation totals about 6 or 7 Trillion dollars.
    Iraq has 40 trillion dinar in circulation. At $3.86 per dinar that’s 154 Trillion dollars in currency. That would mean that Iraq has over 22 times more currency in circulation than the rest of the world combined.

    Even if you look at all hard cold cash plus all electronic money, the world still only totals about 70 or 80 trillion. Iraq has 80 Trillion dinar cash and electronic. $3.86 per would have them with $308 Trillion dollars worth which would be 4 time more than the rest of the world combined.

    Do those numbers sound reasonable to you?
    Iraq’s economy is less than 1% of the worlds economy. Do you think a country with less than 1% of the world economy really needs way more currency than the rest of the world combined?

  49. Stew 20th August 2014 at 17:17 #

    Pretty amazing that these people don’t question the motives of the so-called gurus.

  50. maria cornwallis 20th August 2014 at 17:39 #

    Stew, it is obvious to me that you are completely ignorant in the workings of the global economy. If as Karen so rightly says the dinar is revalued to $3.86, then the world is so much richer no matter how many notes are in circulation. The notes can then be printed after the RV and will backed up by the assets of Iraq which are mind bogglingly considerable. Will you and your negative friends please stop trying to baffle people with your artificial facts and figures…. All that is going to happen is the dinar will be revalued to it’s original,natural and rightful value of around $3.50 to $4.00. I can assure everybody that the dinar is worth a whole lot more than $0.00086 . iraq is the wealthiest nation on this planet and it’s currency is being held down to an artificial level as a punishment for invading kuwait and has been held there since because the USA and the CBI have been waiting for Iraq’s political conditions to be favorable and inclusive to all the three main tribes…. See you all next week