By Tom Cleveland, market analyst for Forex Traders, exclusively for Iraq Business News. Forextraders.com is an online resource for the foreign exchange market.
“Buy on the rumor, sell on the news” is a time-honored investment phrase that is oftentimes more confusing than the wisdom it attempts to impart. The meaning relates primarily to company securities that appreciate in expectation of a big news announcement. Early speculation drives ups the price, such that when the real announcement is made, most investors sell on the news to take their profits, often driving the price down, rather than up. “Pump and Dump” stock frauds also follow a similar scenario, but in this case, criminals benefit and investors lose.
A similar situation has been building for years, some say as many as eight years, surrounding the potential “revaluation” of the Iraqi Dinar. As the rumor would have it, the Iraqi economy has stabilized, and the potential for enormous foreign currency reserves from increased oil exports will drive the value of the Dinar to unconscious levels versus the U.S Dollar. The government authorities will be forced to revalue the currency from 1,175 to 3 per Dollar, resulting in an outrageous windfall for anyone owning stockpiles of the currency. Does something here sound a little too good to be true?
In actuality, the Iraqi Dinar, or “IQD”, is a “controlled” currency. The central bank of Iraq determines the exchange rate and must support that rate by maintaining adequate foreign currency reserves to handle capital flows across its borders. The IMF permits countries with a transitional economy to implement currency controls in order to stabilize their economy during its redevelopment phase. Presently, international banks will not accept the Dinar, and it is not traded on any forex exchange. Actual purchases can be made through currency dealers that have been authorized to buy and sell banknotes that are already in circulation.
Simply remember that a LOP must necessarily redenominate, whereas a revaluation be it instantaneous or with time, does not require a redenomination.
All lower denominations have been minted/ printed but not yet released as there is no need yet.
It's true, that wrestling with USD & IQD in the market place is a problem they want to stop by using only IQD and the fact that in a Speech today Talibani stated he wants the per capita income raised from UNICEFS $2,200 to $8,000. This is the type of dd that points moving from the artificial tightly controlled monetary policy to one where the currency is tied to their GDP/GNP & Rothschild's derivative printing press.
Everyone who reads this page should take special note that tomorrow September 24, 2011 - Shabibi will be at the U.N. for the Launch of the Republic of Iraq Financial Sector Review.
@BAKA from Aug 31st,
You state a train of thought I thought about too. After RV the Iraqi people become instant Millionares. How out rageous. Second to Saudia Arabia 9is Iraq with their oil reserves. Last I heard every citizen that is part of the ruling class were Millionares. Did the King of SA declare they had not one working class citizen, and they import all their labor. Not so outrageous.
The Iraqi people will onw the revenues from Oil, gas, tourisim, minerals. Iraq will become Alaska like and the common man will benifit from a stable Iraq. Why not make em all millionares. Beats all that cash going to one guy.
Ask yourself what was Saddam's weath before his exit? $1.7BB in US banks? Was the country ever hit above $1Trillion in GNP?
New lop article out....
” Salih stressed that “the process of deleting the zeros and the currency exchange is the process of administrative reform of the currency of the Iraqi monetary and therefore does not affect the lifting of the value of things or change the per capita income of Iraq,” adding that “fear of people from the deletion of zeros is the fear psychologically, as the process of deleting zeros and the currency exchange have been applied in 53 countries, including Turkey when he deleted six zeroes from the currency and Romania, which omitted four zeros. “
Here's another reason that supports the new Iraqi Dinar w/o redenomination.
These endless lop fear tactics fraud articles have been going since the day they printed the new fail safe dinar.
A LOP would require a re-construction of the whole Iraqi economy and the re-arrangement of the Iraqi economic papers affecting its contract with the Paris Club and its obligation to the conditions of the World Bank and the International Monetary Fund. It would further require renegotiations wih all Countries that allowed Debt Forgiveness and those presently in negotiations of Debt Forgiveness.
Iraq inflation on tight monetary policy extremely low 7%
Read how dangerous lops are.
LOP Dangerous historical outcomes...
Table 1: Inflationary Episodes and Redenomination Outcomes
Country
Years & Annual Inflation Rates
Redenomination?
Albania
1992 ( 226%)
No
Angola
1992 (299%), 1993 (1379%), 1994 (949%), 1995 ( 2672%), 1996
(4145%), 1997-2002 (average, 194%).
Yes, 1995.
Argentina
1975-1982; average annual rate 267%
Yes, 1983.
Argentina
1983 (344%), 1984 (627%), 1985 ( 672%)
Yes, 1985.
Argentina
1987, 1988, 1989 (3080%), 1990 (2314%), 1991 ( 172%)
Yes, 1992.
Armenia
1994 (4962%), 1995 ( 176%)
No.
Azerbaijan
1992 (912%), 1993 ( 1129%), 1994 (1665%), 1995 (412%)
Yes, 1992.
WE ALSO KNOW THEY RV'D LATER TO THE DETRIMENT OF THE CURRENCY AND FOLLOWING MASSIVE DEPRECIATION OF THE CURRENCY.
Belarus
1993 ( 1190%), 1994 (2221%), 1995 (709%)
Yes, 1992.
Belarus
1999 (294%), 2000 ( 169%)
Yes, 2000.
Bolivia
1981-1986; peaked at 11749% in 1985.
Yes, 1987.
Brazil
1981-1985, average annual rate 151%.
Yes, 1986.
Brazil
1986 (147%), 1987 (228%), 1988 (629%), 1989 ( 1431%)
Yes, 1989.
Brazil
1990 (2948%), 1991 (433%), 1992 (952%), 1993 ( 1928%), 1994
( 2076%)
Yes, 1993 and 1994.
Bulgaria
1991 (338%), 1996 (122%), 1997 ( 1058%)
Yes, 1999.
Chile
1973 (362%), 1974 (505%), 1975 ( 375%), 1976 (212%)
Yes, 1975.
Congo, Dem.
Rep.
1979 (101%), 1989 (104%), 1991 (2154%), 1992 (4129%), 1993
( 1987%)
Yes, 1993.
Congo, Dem.
Rep.
1994 (23773%), 1995 (542%), 1996 (542%), 1997 ( 176%)
Yes, 1998.
Congo, Dem.
Rep.
1999 (285%), 2000 (514%), 2001 ( 360%)
No.
NOT SURE IF IT HASNT OR ISNT GOING TO IN THE NEAR FUTURE THOUGH
Croatia
1992 (625%), 1993 ( 1500%), 1994 (107%)
Yes, 1994.
Georgia
1995 ( 163%)
Yes, 1995.
Ghana
1977 (116%), 1981 (117%), 1983 ( 123%)
No.
HAS JUST REDENOMINATED
Indonesia
1962 (131%), 1963 (146%), 1964 (109%), 1965 (307%), 1966
(1136%), 1967 (106%), 1968 ( 129%)
No.
Israel
1980 ( 131%), 1981 (117%), 1982 (120%), 1983 (146%), 1984
(374%), 1985 ( 305%)
Yes, 1980 and 1985.
Kazakhstan
1994 (1877%), 1995 ( 176%)
No.
Laos
1999 ( 128%)
No.
Latvia
1992 (243%), 1993 ( 109%)
Yes, 1993.
Lebanon
1987 (488%), 1988 ( 128%)
No.
Lithuania
1993 ( 410%)
Yes, 1993.
Macedonia
1994 ( 126%)
Yes, 1993.
Mexico
1983 (102%), 1987 (132%), 1988 ( 114%)
Yes, 1993.
Mongolia
1993 ( 268%)
No.
Nicaragua
1985-1991. Highest in 1989 (4770%), 1990 (7485%) and 1991
( 2945%)
Yes, 1998.
Peru
1983 (112%), 1984 (110%), 1985 ( 163%)
Yes, 1985.
Peru
1988 (667%), 1989 (3399%), 1990 ( 409%)
Yes, 1991.
Poland
1982 (104%), 1989 (245%0, 1990 ( 555%)
Yes, 1995.
Romania
1991 (231%0, 1992 (211%), 1993 (255%), 1994 (137%), 1997
(155%)
Yes, 2005.
Russia
1993 (875%), 1994 (308%), 1995 ( 197%)
Yes, 1998.
Sierra Leone
1987 (179%), 1990 (111%), 1991 ( 103%)
No.
Sudan
1991 ( 124%), 1992 (118%), 1993 (101%), 1994 (115%), 1996
(134%)
Yes, 1992.
Suriname
1993 (144%), 1994 (368%), 1995 ( 236%)
No.
Turkey
1980 (110%), 1994 (106%)
Yes, 2005.
Uganda
1981 (109%), 1985 9158%), 1986 (161%), 1987 ( 200%), 1988
(196%).
Yes, 1987.
Ukraine
1993 (4735%), 1994 (891%), 1995 ( 377%)
Yes, 1996.
Uruguay
1968 (125%)
Yes, 1975.
Uruguay
1990 (113%), 1991 (102%)
Yes, 1993.
Zambia
1989 (123%), 1990 (107%), 1992 (166%), 1993 (183%)
Zimbabwe
2002 (140%), 2003 ( estimated 1000%)
[Edited: please keep comments civil]. You claim those numbers are the result of lops. You lifted those numbers out of the study by Layna Mosley from UNC... and they are not the outcome of lops. Those numbers are the years/inflation that led up the country lopping.
[Post removed. Please keep comments to the subject being discussed, without questioning the agendas of other posters and of this publication. - Editor]
No you claim that - These are facts, if you want to study facts then so be it.
A lop is very risky business.
The lop means nothing for the people of Iraq. What they need is to raise the value of theitr currancy as opposted to what they can buy on the open World market. The Us is stealing their oil tofday due to the deflated value that paper carries. Obama has shut off as much oil produced ti the US he can so as to buy what we can from Iraq. This will lift Iraq and still make all Americans mad about the lack of US production. Iraq is a bannana republic on oil anbd that will be what will lift the Dinar, a healthy price per barrel of oil.
The central bank of Iraq controls the price of the dinar, for all of the stated reasons, when will the currency market set the value of the dinar, and could it appreciate rapidly to reflect a rapidly growing economy.
There are about 220 currencies in the world. About 180 of those currencies are controled by Central Banks. It's a VERY common practice. ALL of the countries that rely primarily on Oil revenues have controlled currencies. None are set by the market. The Iraqi dinar will NEVER be a free floating currency. It is a just another of the many many lies told by dinar scammers.
Iraqi millionaires, where ? Most of these people do not enjoy indoor plumbing and won't be too disappointed in an RD or RV.
IQD APPEARS it will revalue due to many issues worldwide that are unraveling as I write this.There are many reasons why it stand a very good chance to revalue among them:
Kuwaiti Dinar has already revalued the day after the crown said that it would not.( to 3.46/1.00 USD ...I think)- and Iraq has more easily recoverable oil reserves to justify a higher value to USD than that.
A BIG REASON:
The current debt derivatives demon will evaporate the entire EU zone and migrate internationally- this revalue ( along with other currencies in Asia) will provide liquidity in the marketplace that just does not presently exist. These currencies are already being held by corporations and Governments( the same thing). This will give them a re set button on the whole debt bubble without having to write down or forgive( for the time being) the whole box of *hit this system represents.
All other arguments made on this post, while based on precedent or technical financial systematic knowledge, will be moot if the whole thing comes crashing down. There is a acute crisis NOW that needs liquid capital to backstop the counter-party risk out in the casino like market place that greed has made here. All other statements that do not take this point alone into consideration will prove to be pointless mis-direction. Think about this.... if there is no more cash in the system to 'pay' anything or anyone- nothing get done - and the protest that we see now will be a dress rehearsal for the real upcoming show.
Gainsmore;
I agree that the revalue of the IQD will be in part due to the 'derivative' aka; counterfeit money supply. The timing for this event does appear to be escalating exponentially, there are new discussions today of another downgrade to the most powerful nation in the world, the USA. One can easily see we are no longer tied to the economics of supply/demand but to the fraudulent keynesian economic system of bob & weave.
This is why in my opinion, Iraq will easily revalue higher then what would be expected from normal growth of a country. The derivative situation is also another reason in my opinion, that the CBI/IMF/GOI have held the iQD in a 'tight monetary status' (limbo) for 8 years. This was a very unusual length of time, but it did serve a churning purpose in daily trading.
The Banking Cabalists of London must get rid of their 'derivative trail' so they have pawned it into the Euro Countries as well as The USA via 'bailouts' to indebt nations to cover their own bankruptcy. The ONLY way to do this was to print money and MAKE it happen to other nations.
In the end game though, I do believe there will be massive debt forgiveness via (whatever) mechanism they choose, and the IQD will be one of the diamonds in the rough.
Europe will go down, America's USD will be weakened further, and Iraq will more easily be able to buy the IQD back from The U.S. Reserve (because their IQD will be revalued). Notice how Iraq is already whining about how much IQD The Reserve has in storage! (Another False Flag) We bought the IQD so they could have USD to get started. (Along With The False Flag U.S. Troop Withdrawal) This will allow them the appearance of sovereignty when the IQD is revalued.
Hillary stated that Iraq will grow much faster than China over the next two years.
Iraq According To The IMF Is Projected To Grow Faster Than CHina In The Next 2 Years.
There is a small part of the tape that was censored so wait wait for a few seconds and the video will continue.
http://www.youtube.com/watch?v=4o5WAhMsdtU
It's not hard for an ant to grow at a faster rate than a giant.
The ant is still insignificant.
[Offensive comment removed by Editor]
Wow. Is anyone still on here?
This Dinar investment is a total fraud and should be reported to the SEC and other govt agencies. You have all these Dinar pumper such as BH group, TNT Dinar, Dinar Daddy and finally Treasury Vault constantly selling Dinar reserves and making hugh profits. This smells like Emron.
Jim,
Do just a little research. Buying and selling currency is NOT a scam. Where the scam could be seen is the promotion of it happening "any day now". Those of us who have been in this investment, for nearly 8 years myself, know that it takes TIME. Eventually, the currency will revalue, and we may see a penny per dinar, and we may see $3.22 per dinar, NOBODY KNOWS!
[offensive comment removed by Editor - please keep all comments civil!]
didnt the dinar just go down in value?
100% wrong i no a bank that buys them now at .06 for each one they started buying today!
Pure BS... I guarantee you there is no bank paying .06 per dinar.
I have to agree with Stew, it IS pure BS. When an adjustment does happen, we will ALL know about it.
Unless he means .06 of a penny. That might be true. But that should be written as .0006
If that’s the case they are paying 70% of the value.
Since most paid about $1000 per million, getting $600 per million doesn’t sound like a very good investment.
Lots of currencies have been revalued. It happens all the time all over the world. If there was so much money to be made, don't you think we would have heard about it before now? Why aren't Warren Buffett and the other large investors on board? Because there is no money to be had here in the short term. If you're willing to hold this money for 10-20 years you may see a return, however you also have to hope like hell that they don't redenominate. If they redenominate you will only be able to exchange the old dinars for the new at banks in Iraq, and there would be a 2-4 week window in which to exchange them. All the people arguing on the side of "get rich quick with the dinar" here are most likely either sellers of dinar, or so deeply invested in yet another get-rich-quick scheme that they can't let go.
Jared, why is buffet not invested? Ughh how do you know that he's not? Are you like his butler?? hahaha Iraqi Re-denomination? Too much currency has been sold outside of the country for them to do that because once that happens what are all the foreigners who bought dinar going to do??? CASH IN!!! You think Iraq wants to see that? Its a called a Sell off and it can be nasty. That's why nations do not enjoy currency speculators speculating on their currency that they have to honor and for a nation not to honor their own currency by placing any kind of stipulations on it as in not honoring it or short expiration "in country" would simply be disastrous for that country to attract foreign investment which is exactly what Iraq needs to rebuild their private sector. capice? No other country that has redenominated in recent times has allowed this much speculation by foreigners to happen in regards to their currency. NONE! If you look at what actually makes a dollar a "dollar" then you will understand that it is very possible at worse they would allow this currency to appreciate since that's exactly what has happened since they introduced the new iraqi dinar in 2004. It has appreciated to where its at now and has been stopped on purpose by the central bank of course. "Well they wanted to take care of inflation before they RD?" okay they raised interest rates and accomplished that but the RD hasn't happened yet! How long has it been? LOL!! It is possible they will allow appreciation to happen again since they are buying hundreds of millions of dollars in the central bank of iraq's daily currency auction. What other country is buying that much dollars daily? Why would they allow their own banks to buy and use dollars like that? GET IT??? What would be the hurry on redenominating if their people are using dollars??? Why would they state in articles about what dinar is in circulation locally? Why are local Iraqi's opening their homes to people who want to exchange their dinar for dollars? All of this are from their own articles over this year. Honestly, why does it take 8 years to redenominate when you already knew where your currency stood in 2004? Look at Sinead Al Shabibi's resume. He is the governor of the central bank. He is a very well educated economist with an impressive resume. They have a true plan that they can not reveal hence all of the weekly articles stating plans and then denouncing them. Think about it, a Re-denomination would be the easy way out!!! They could have had the law pass to do this re-denomination many times. The central bank is the one that makes the policy in regards to the dinar. Like all central banks, they do not fall under the control of the government of Iraq. The legislation could have been taken care of but see the redenomination hasn't happened yet. See non of you doubters can answer these questions. I hope for you doubters that it appreciates slowly so that you will have an opportunity to purchase it. The holdup for Iraq is their political/security situation. Once this major issue of who will run this country is decided and it will be decided by the Iraqi's (more people will die of course...) Then we will work with those in charge and start the process over that we had started and failed numerous times with Sadam. I think we will see a reboot happen in the next year. Good bye Maliki. If our economists we send there fail to convince the new regime who is in control of the country then we send the CIA, if they fail then we send military again. It is that painfully simple. We will not let Iraq go period. They need to sign on and let our corporations in! Iraq is destined to be the next Saudi Arabia except better because it has lots of water also and twice the oil! World politics of today/international law prevents us from just planting our flag and calling Iraq our own but deceptively, Iraq can go nowhere without the U.S. blessing because we still hold them under chap 7 via UN + Kuwait and that's just the info that we do know about. When it comes to economics and numbers, anything is possible.. again why does dollar equate a dollar? Because we the united states have big guns which provides the world the faith they need to have in it. What does Iraq have? Enough oil to sustain our economy and our complicated self indulgent wasteful life style in U.S. for a long time.
So... your saying you believe it's not going to RV until late 2012????
Well it is now Jan 2012 and still NOTHING. I heard people talking that it would RV before July of 2011 to start a new fiscal year. Then I heard that it would be Dec 31,2011. People, how much has to be written and pounded into your head that this is a scam. Sell your Dinars and get back what you can as soon as you can.
You think deferent? Let me hear it.
I agree with Harry. I go onto Dinar Guru daily and all I hear is that it will RV this week or next week. This is totally bogus. I heard od some of my friends get nailed by the Treasury Dept for having Dinar and they (feds) will confinscate the Dinar without have proper paper permits from Treasury Dept. I don't understand why Americans are willing to invest money in other countries and not own country. Everywhere I look, I see foreigners buying once American owned businesses and laying off Americans.
[offensive comment removed by Editor - please keep all comments civil!]
I have read many comments from frustrated investors. The frustration is a result of unreasonable expectations. You can stop thinking that the Dinar will RV anytime soon. The reality is that it will not RV but simply increase in value over time as the country rebuilds itself. Stop listening to the self titled experts.
The Dinar will eventually rise in value. It must for Iraq to progress forward which is in the best interest of all nations and most importantly the U.S. government which spent over 1 trillion on a war. Iraq is about to emabark on a long term rebuilding process which will automatically bring in foreign investment and increase the value of the Dinar. Its all about the oil in the ground.
The oil in the ground makes the Dinar a worthwhile investment.
Be patient, be realistic. Rome was not built in one day, and Iraq will not be re-built in one day either. Just forget about what you have read and heard, go on with your life and when you have completely forgotten about it, it will be worth something.
Think about it this way. It is EXTREMELY OBVIOUS that Iraq is starting to become more productive as a Nation. It is a well-known fact that Irag has one of the Largest Oil Reserves on Earth.
At the Present time the United States is purchasing a lot of really cheap Oil from Iraq, so is China, Japan, England, France and the rest of Europe. The Iraqi Dinar is selling for 1180 dinars per U.S. Dollar ($856.00 U.S.Dollars per million).
If you purchase $1,000.000 dinars on 01-12-2012 ($856.00 U.S. Dollars) and the value of a single dinar rises by only one penny-you will have made a gain of $10,000 U.S. Dollars on your initial investment.
Can you imagine how much money you could make if a single dinar rose in value to $3.26 per U. S. Dollar (USD). Your initial investment of $856.00 (USD) would be worth enough money for you to retire for the rest of your life.
Prior to Irag invading Kawait back in the early 1990's the Kawait Real was being traded a rate of over $3.00 per USD. During the invasion the Kawait Real lost most of it's value. At one point it was being traded at a rate of 10 cents per USD. (During that same time period Iraq began distributing it own currency within Kawait.) The U.S and England knew that allowing Iraq to take complete control of Kawait would soon lead to a sharp rise in oil prices. (The only reason Iraq invaded Kawait was to establish a monopoly on oil reserves in that part of the world). (Additionally, Kawait was selling oil a MUSH CHEAPER Rate than Iraq wanted to) Hence, the U.S. and England declared war on Iraq and within a very short time period they were able to push the Iraqi's out of Kawait. Thereby, allowing Kawait to reinstate it's Currency. The Kawait Real immediately rose in value to it's pre-invasion rate of over $3.00 U.S. Dollars per Real. People who purchased the Real when it's value fell made a killing. Some of those Investors were U. S. Soldiers, serving in Kawait, many of whom became Millionaires over night.
So it is possible to make a Great return on your Investment if you are in the right place at the right time. Therefore, I would not sell my home to purchase the Iraqi Dinar, however, purchasing a few million dinars for around $2,500 to $3,000 USD may in time not turn out to be such a bad deal after all.
Mark A. Traina B.A. Economic and M.A. Counseling Psychology (NSU)
Economist/School Psychologist
Slidell, LA. 70458
(504) 231-3056
[email protected]
Kuwaiti Real? I would think if you knew so much about the Kuwaiti situation you would know that their currency is not the Real, it is the Dinar.
Kuwait never changed the value the of the their dinar. When they were invaded their Central Bank and all other banks shut down. So no bank was selling dinar at discount rates. Some Kuwaitis panicked and sold the cash dinar they held for a discounted rate. There was no 10 cent rate. There may have been a few people who sold for that low of a rate but I doubt it was many. But lets imagine there were some who did sell for 10 cents. You claim soldiers made millions. That solder would have had to have over $30,000 in cash to buy dinar with to make a million. How likely do you think it is that US soldiers were walking around in Kuwait with $30,000 in cash in their pockets?
In obtaining our B.A. in economics. Did you cover supply and demand?
When Kuwait was invaded by Iraq they had about 400 million dinar in circulation.
Iraq has 30 Trillion dinar in circulation. Iraq has 75,000 times more currency than Kuwait had.
It's obvious you did not cover currency redenominations, because Iraq has announced plans to redenominate.
I cant believe people are still falling for the big RV. ITS A LIE!!
The only people making money will be the scammers selling you dinar. This has been going on for years. I have seen so many friends and families fall apart over the expectations and having faith in Frank,Delta, Okie oil man ,etc.They are paid pumpers who recycle their lies once their predicted date passes. Do yourself a favor, don't get involved and don't tell people about dinar. You will look like an idiot. How many times must you be told? Having faith in this is stupid! Faith is a virtue of not having to think!
Take your money and bet racehorses....at least you will have a shot at winning!
lz while i agree with you that these moron pumpers make this investment look like a scam the actualy investment is not now sure its a risk but not as much a risk as people say if you think about it on a million dinar your risk is only maybe 300.00 out of apporx 1000 cause i can sell mine back right now and get that so that throws the"scam" theory out the window and tell me what other "scam" allows you to do that? Now all you non believer's thinking it's gonna lop even if it did lop we would basically get our money back also so if it does it does but i highly doubt they are going to do so because all they are doing is bringing in the notes with 3 zeros they are not giving up on their whole currency and that is what a lop does its a complete revamping of their currency and iraq is not doing that and theres many many real articles that verify this,nuff said!! lol
You have been scammed Rich. They have stated a number of times they are redenominating (same thing as a lop) the currency. That means the entire currency. They have even stated a number of times that the redenomination is just as Turkey and Russia did. They have stated that lots of countries have redenominated just as they will. Maybe you can give us an example of one country that has redenominated and only effected some bills and not others. The entire currency, all denominations will be effected.
If I sell you something for $1000 by claiming you will soon be a millionaire, and then offer you $600 to buy it back. How is that not a scam?? Also... if you are foolish enough to believe this "only big bills" scam, and hold your dinar until the redenomination happens, you will be lucky to get anything back.
stew you need to do your research thats all they are doing is bringing in the notes with 3 zeros ive seen too many articles that say so also you tell me what "scam" gives you a chance to get any of your money back at all i know of none and if i wanted to right now i can sell it back sure at a slight loss but nothing compared to any other"scam" out there you probably have dinar yourself just in case you are wrong i wouldnt doubt it and even if they did redenominate eventually their money will gain in value and probably still come out with a nice profit but thats not what their doing and this rv is only a small part to iraq in the grand scheme of things they dont give a rats azz if peeps like me get wealthy from this.
So you truly think that Iraq is telling people a year or more in advance about their plan to massively RV the currency? Astonishing.
About a year ago a rumor spread that Iraq was going to RV to 1000:1. At that time people started hording dinar and the street value went up to near 1000:1 based on that speculation from the rumor. The CBI had to come out and deny it and the street rate then fell back to the 1170 official rate.
Now you are telling me that Iraq, the CBI, are announcing to Iraqis and the people of the world that the dinar will soon be massively RV’d… yet the street rate of the dinar is sinking like the Titanic at this point. The CBI is having to spend a ¼ of billion dollars a day at the auctions to keep the rate from plummeting. How can that possibly be happening while they are making announcements of an impending 100,000% increase in value?
We’ve seen other countries lie and hide 1/2 of one percent increases in value of their currencies to keep speculators from taking advantage of it… but you , and others, believe Iraq is giving everyone in the world advance notice of a 100,000% increase?
stew a redenomination only occurs when there is massive inflation and iraq simply does not have that its in the single digits still now i know im not the smarteset person out there but i have talked to people smarter than me and they are saying that a redenomination is not the route iraq is taking and we shall see but if the articles are true then things are pointing to an rv and not an rd and if they are wanting investment to come into iraq they surely aint gonna attract it with a currency thats worth squat and also they have told their people that they will have more purchasing power so tell me how an rd does that for them unless they do an rd and then an rv after which wouldnt give us the return that we were hoping for but its still better than nothing!
Statement from the CBI....
” Salih stressed that “the process of deleting the zeros and the currency exchange is the process of administrative reform of the currency of the Iraqi monetary and therefore does not affect the lifting of the value of things or change the per capita income of Iraq,” adding that “fear of people from the deletion of zeros is the fear psychologically, as the process of deleting zeros and the currency exchange have been applied in 53 countries, including Turkey when he deleted six zeroes from the currency and Romania, which omitted four zeros. “
That is lie about countries only redenominating with high inflation. I have shown and linked university studies that have proven that countries redenominate AFTER bouts of high inflation... and that it is much more prefered that inflation be brought under control before redenominating. Turkey had single digit inflation when they lopped and so did Russia.
Show me where Turkey or Romania or any of the 53 countries Salih uses as examples did as you claim.
Again... you are claiming that Iraq is announcing to the world their intention to raise the value of the dinar 100,00% or more. That simply does not happen... period!! But countries do announce ahead of time redenominations... just as Iraq is doing now.
The increased purchasing power that they talk about is bacuse after the lop, they belive the dinar will strengthen... then they will do those 1/2 to one percent increases in value that we see other countries do and deny the whole time they are doing it.
Why is stew not posting the articles contradicting articles iraq puts out as well, when theres one articles that seems "rv rv" they always contradict it with a " Lop / RD' articles. Of course their not gonna tell anyone their planning to revalue.
Nick... I haven't seen one single article that makes me think it's a big RV. They all have been about redenomination/lop. Just because a dinar pumper misinterprets and twist the meaning into something to get people excited to buy dinar doesn’t make it an RV article. Since you think there are so many maybe you could post/link one.
Your last sentence is interesting. You just claimed there are a number of articles that say they are going to RV… then you state they’re not going to tell anyone their plans to RV. So which is it?
stew i have such an article i can show you their plan to revalue and not redenominate and i will try to post the link today for you today.
Would love to see it Rich. If you post a link it might take this site a day or two to approve it. Cut and paste might be better, even if it's just a portion of it. We can then cut and paste a sentence out of it into a search and find the article pretty easily.
i find it strange that all of a sudden all of the gurus cant give out sincitive info. when they been doing it since i got involved in dinar .as we know there is no fear in GOD. all of these gurus claim to believe in GOD. so why are you gurus afraid all of a sudden . i pray that you are not dinar pumpers because you will have to answer to GOD. PS.I will see you gurus in HEAVEN???
I guess there wasn't as many RV articles as they seem to remember. I could find about 100 redenomination/lop articles at the snap of a finger.
Qoutes from the latest delete 3 zero article.
"the project to delete three zeros from the currency, according to the Parliamentary Finance Committee, will not lead to increase the value of the Iraqi currency"
Clearly there is no big RV coming for the dinar people hold now.
"While the central bank recently said that «the three categories consist of 200 dinars, which is equal to 200 thousand dinars at the present time and a 100 dinars, which is equal to 100 thousand dinars, and the category of 50 dinars, which is equal to 50 thousand dinars, in addition to the coin of the category of the dinar and Dinarin as well as half and quarter dinars and 100 fils and dirham».
But the citizens feared «re-experience the abolition currency small and put in place of another currency, and that was parallel to it, most likely, will not be dealt with at the level of traders, which leads to weakening and then cancel at the level of trading between citizens and between small traders and others» , confirming that the »Delete the zeros will cancel the usual small currency in circulation by the local class (250) such as rent, for example, transfer»."
The New currency will include a 50, 100, and 200 dinar note, which will be worth what 50K, 100K or 200K is worth now... so about $50, $100, and $200 dollars.
They also state that the current small denominations, like the 250, used for small transactions will be canceled. Proving that the pumpers/gurus are lying or either stupid in claiming this will only effect the large bills.
Look for more articles that make this very clear and watch the gurus start to sqirm as it becomes harder and harder to convince the masses of their lies.
stew this link is fairly long but kap highlights in yellow some good points http://dinaralert.webs.com/apps/forums/topics/show/6612064-assistant-professor-dr-fadel-punitive-a-special-article-economic-forum-uae-
sorry took a few days i got busy stew
u know i just realized you have to sign in to see the article i will try to get someone to send it to my email stew and maybe then you can read it or post it here sorry
or maybe email me stew i'll send it to your email and maybe somehow you can post here without peeps having to sign into the site
email is [email protected] stew