Iraq’s Central Bank announced on Tuesday that the project to re-denominate the Iraqi Dinar, removing three zeroes, is close to completion.
According to the report from Alsumaria TV, the re-denomination project is believed to be a strategic plan that will be passed to the ministerial council and Parliament once complete.
A Central Bank’s advisor, Mothahhar Mohammed Saleh, said in a statement to the agency that the plan aims to reduce transactions costs and help people carry less money.
Iraq’s central Bank has managed during the past five years to reduce inflation rates from 34% to 3 or 4% and stabilize Iraqi Dinar exchange rate, he said.
In an earlier statement to Alsumaria News, he confirmed that the bank plans to remove three zeroes from the Iraqi Dinar, noting that the zeroes which were added to the Iraqi currency previously constituted a large money supply estimated at 27 trillion Iraqi Dinar.
Saleh revealed on the other hand that Iraq engages for the first time in banks payment system as it moved from manual to electronic clearance. The system includes six banks in addition to electronic deeds exchange, he said adding that the smart and credit cards will be bound to the central bank system.
Iraqi economists believe the re-denomination of Iraqi Dinar will not have a major influence on the purchasing power of the Iraqi Dinar "which the government has hopes high on it".
(Source: Alsumaria TV)
Chris. Thank you for your service to the country.
You are not the typical dinar holder. Most have paid a large markup and shipping fees just to get dinar. A lop and sudden 1:1 value would still leave most at a loss or maybe a small gain. The typical dinar holder with 2, 3, or 4 million dinar who could possibly make $100 to $200 or so per million... I doubt they will be buying airline tickets to Iraq.
They will be selling back to a dinar dealer for another huge fee.
That might be the business to be in if you have a way to get dinar back for exchange.
the ICB HAS STATED THAT THE LOOPING OF THE ZERO`S WILL NOT AFFECT THE VALUE OF THE DINAR THEY WILL BE USED SIDE BY SIDE UNTIL ALL THE OLD NOTES ARE TURNED IN!! YOU GUY`S ON HERE ARE QUICK TO CALL OTHER PEOPLE GURU`S BUT YOU SPOUT THE SAME RUMORS THEY DO!!!
MONEY THAT YOU FOLD IS FOR THINGS BOUGHT AND SOLD MONEY THAT YOU LAY FLAT AND STACK CAN BE SOLD BACK!!!
Thank you Dean Martin!
i don`t hear you guy`s dogging the WON, AFGHANI, YEN OR YUAN THESE CURRENCIES ARE BEING REVALUED ALSO! and the only comedians on here are you so called EXPERTS ON CURRENCY INVESTING!!!
HE who COLLECTS CURRENCY will ALWAY`S have MONEY!!!!
I would say you should sell everything and invest everything you have if you feel that way.
Unless you overpay and re sell it at a loss.
Brilliant!!!
Guy's, your simply not seeing the big picture. They can't revalue the existing currency due to the prohibitive facts that are simply understood by realizing that $60 billion cannot cover 30 trillion dinars if they’ll be worth $30 trillion dollars when the CBI prints the new currency. The huge amount of old dinar circulation will have to be reduced by deleting the 3 zeros via implementing the imposed exchange rate (1000 old dinars for 1 new dinar) that will conveniently eradicate the 3 zeros in circulation from the investors holdings, and leave them with only 1000 new dinars per million when they trade the old for the new currency. It will take 1 million old dinars to obtain 1000 new dinars worth $1.00 each when the new currency is printed and revalued at 1 dinar to the dollar.... period. To retain more dinars it will take a barrage of opposing emails to the CBI and the GOIraq. The CBI requested a response from the investors through 1 article sometime after they first announced the 1000 to 1 exchange rate, but that obviously never reached enough people with understanding outside of Iraq to ignite this important issue. The return on this investment after 9 years for some, and misleading for all will probably have serious consequences for the Cbi and the GOI if not fairly regarded before they revalue the new currency.
ICB HAS STATED THE LOOPING OF THE ZERO`S IS FOR THE LOCAL CURRENCY!!!! DOES NOT AFFECT THE NOTES WE ARE HOLDING!!!! WE ARE ONLY CONCERNED ABOUT THE EXCHANGE RATE!!!
Where did you get that news from do you have a link to article?
I read that article too. It was in " The FantasyLand Gazzette".
When the new currency is printed the dinar value will be 1 dinar to the dollar, and that means that the dinar will be revalued at $1.00 and that will be the confidence needed to support the !raqi currency going forward. But, if the GOI approves the CBI's so called exchange rate to reduce the essential circulation following the deleting of the three zeros, mathematically that will leave the investors with only 1000 new dinars for every million existing dinars they own. It will take 1,000,000 existing dinars to obtain 1000 new dinars! How much clearer can this scenario be? If you want to retain more dinars oppose these terms via email to the CBI and the GOI before they revalue. The CBI is not going to share more than 1000 dinars with the holders of the dinars unless they have to. The numbers speak for the ploblem or just set back and watch it happen.
Thanke for you comments.
Mark
Mr White,
All of the news that I aquired came from the currency news hound
and the Iraq business news.
Mark
Im guessing the CBI has never used the term "LOOPING"
If you can't spell lop, I doubt you understand a lop.
currency news hounds. Spam spam Spam and more spam. You cant trust
Them there pumpers 100%.
[advertising removed]
to all that say i`m a GURU IS BS! i`m an investor in dinar dong won afghani rupee rials and a few more! and to all you spelling teachers the LOP IS FOR THE LOCAL CURRENCY! THEY HAVE 30 TRILLION IN CIRCULATION ONCE THEY LOP THE ZERO`S THEY WILL BALANCE THEY`RE BOOKS BECAUSE 30 TRILL TURNS INTO 30 BILLION ONCE THE DO THE LOP! YOU GUY`S DO KNOW YOUR DINARS ARE NOT CIRCULATED? I GUESS NOT SINCE YOUR WORRIED ABOUT THE CURRENCY IN CIRCULATION IN IRAQ!
THEY WILL BALANCE THEY`RE BOOKS BECAUSE
Fixed version "They will balance |their| books because"
Sorry just had to because all the whining lately...
2 collect,
Why is this taking so long and when is all this gonna happen?
Parliament and Finance committee support revalue of Iraqi DinarPosted: June 25, 2012 in Iraqi Dinar/Politics
Tags: Central Bank Iraq, Council of Representatives of Iraq, Currency, exchange rate, Finance Committee, Iraq, Iraq Stock Exchange, Iraqi dinar ERBIL, June 25 (AKnews) – The Iraqi Parliament and the Finance Committee support the Central Bank of Iraq (CBI)’s efforts to revalue of the Iraqi Dinar through the removal of three zeros from the currency.
The CBI has announced that it has finalized plans to remove three zeros from the Iraqi currency in order to revalue it.
The smallest unit of the current Iraqi current is 250 Iraqi Dinars which is equivalent to $0.20
The removal of three zeros is expected to raise the value of the Dinar as well as facilitate dealing with the currency and the payroll system in the country.
The Iraqi government and the securities committee have sounded fear that the process will negatively affect the Iraqi stock exchange market.
A member of the Finance Committee Najeeba Najeeb told AKnews that “there is a trend in the attitude of the legislative authority to support the CBI to restructure the Iraqi currency and remove three zeros by early next year”
“This subject is starting to become more significant for the Finance Committee members and the Economic Committee day after day” she said, “though the preparations by the CBI to implement the process are ongoing, they are not complete yet”
According to Najeeba, the process of removing the zeros from the Iraqi Dinar will be implemented over a period of two years through governmental banks.
Also, the new currency will include small bills and coins as well as large bills equaling about $180 each.
cbi also stated the the REMOVING OF THE THREE ZERO`S WILL NOT AFFECT THE WEALTH OR BUYING POWER OF THE IRAQI CITIZEN!!!
Deputy Seleh spoke to a local seminar group, and What is buying power, but a numbers game. Buying power never exceeds 1 penny per dinar. The existing exchange rate is 1200 dinars to the dollar and that would be approximately $102.00. Divide 1200 into a million would give you approximately $833.00 per million dinars
and that is less than 1 penny per dinar. That my friend is buying power that will never exceed 1 penny until they delete the zeros and revalue. Deleting the zeros from day 1 was designed to enrich the government and the CBI, not the investors or the citizens, which is another unfortunate, unreasonble, unfair un-Godly event that should not occur without moral regards for the investors. When Iraq or any other country or person makes an investment they are entitled to a fair return and many have been waiting for their envestment for 9 years. The dinar following the deleting,reducing,imposed exchange rate, and the new currency, will come off the 9 year 1 penny per dinar value bottom, and revalue for $1,00 per dinar that will represent 33 trillion dollars, and that is only the beginning. So, how could any rational moral government with a constitution that is all about righteousness, and fairness totally disregard their currency investors local and foreign regardless of the price they paid, which was set by the CBI knowingly aware of the eventual outcome of the dinar, and the methods they would have to use to reduce the circulation.
What is absolutely mind boggling is the fact the CBI wants to take back the million dinars they legitimately sold to the investors, and exchange that for only 1000 new dinars, which is not even enough to reinvest. The GOI can easily give a return of 5 or 10 percent to the investors and so doing glorify their God, and their country to the world by demonstrating important ethical responsibility to pay this righteous investment obligation.
Thanks for the comment,
Mark
"When Iraq or any other country or person makes an investment they are entitled to a fair return"
"ethical responsibility to pay this righteous investment obligation"
Seriously???? I'm at a loss for words.
New post on The Currency Newshound
Here is a copy of this mornings currency newshound to again
substantiate Iraq Business news earlier accounting of the CBI's intention to use 1000 to one exchange rate old for new. Its pretty obvious to reduce the circulation they have take back your
1,000,000 dinar investment and give you 1000 new for every million old purchased! When they print the new currency 33 trillion dinars they will be worth $1.00 each at the expense of the citizens and you know who, however the citizens will receive 25% of the oil revenues simultaneously for woes. Serious Stew what are you going to do?
New year; A new currency
by THE CURRENCY NEWSHOUND - Just Hopin
Said a member of the Finance Committee of the Iraqi parliament that the new currency will enter circulation in the markets and will be taken a thousand dinars from the citizen for one dinar.
As the time nears the statements will be more clear. They (Iraq) have been intentionally vague about this process, allowing scammers to continue to twist the meanings so dinar holders would hold and not panic sell.
Here is the article…
http://translate.google.com/translate?hl=en&sl=ar&u=http://kirkuknow.com/arabic/%3Fp%3D14210&prev=/search%3Fq%3D%25D8%25A7%25D9%2584%25D8%25AF%25D9%258A%25D9%2586%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%26hl%3Den%26lr%3D%26tbs%3Dqdr:d%26prmd%3Dimvns&sa=X&ei=r330T7m1FImmrQGA-rHKAw&ved=0CHUQ7gEwBA
New year .... A new currency
Said a member of the Finance Committee of the Iraqi parliament that the new currency will enter circulation in the markets and will be taken a thousand dinars from the citizen for one dinar.
She Najiba Najib Albamrna member of the Finance Committee in the Iraqi parliament that the new currency will enter the circulation from the beginning of the year 2013 and will be removed Asfarha "and will enter the dinar metal and 50 dirhams and 25 dirhams market and will be replaced by the dinar per one thousand dinars, and will be the 25 thousand dinars to 25 dinars." .
IBN should cover this one with a story of their own.
As the time nears the statements will be more clear. They (Iraq) have been intentionally vague about this process, allowing scammers to continue to twist the meanings so dinar holders would hold and not panic sell. Stew
The dinar dealers are the guys that don't want change, because their selling a "pie in the sky". The scammers are the CBI and they couldn't care less what you do with the old dinars they'll be to busy with the new stuff, thats why their giving you 10 years to play their game. If the GOI goes along with the CBI's sordid plan by disregarding the serious moral responsibility they have to appropriately honor their currency, and if not that could be a catastrophic mistake adverse to Iraqs economy. They'll be hiding more dollars in foreign banks if they replicate Iraqi's former regime. Misleading when the stakes are so high is futile.
But, don't give up hope until we hear from the executive branch of the government they could be sober in this matter and make a keen decision in favor of the weary investors by rightly dividing the currency in honor of their country.
Thanks for your comment,
Mark
Iraq orginally announced plans to redenominate/lop in the summer of 2006. 6 full years ago. How they have mislead anyone, I don't know.
I still don't understand how you figure Iraq has "serious moral responsibility to appropriately honor their currency"
What is your idea of "appropriately honor"?
Also Mark... your writing style is very familiar. Do you have a more well known name that you use elsewhere?
Stew.
If you invested your money to break even thats your business. The world knows that if the CBI implements that 1000 to one exchange rate and prints new currency valued 1 dinar to the dollar its a scam regardless of the reasons they may give to overcome such an unfair action. It's hard for me to believe that the GOI or the citizens would go along with his scheme when the consequences of such an act would be devastating to their currency. This is my last comment, and my last criticism toward the CBI. Our government said let them work out their own problems, and I agree.
Thanks again,
Mark
Mark:
So your saying Iraq giving you 1 USD for every USD you spent is an unfair action........ yet you think it's fair that Iraq gives you 1 MILLION USD for every 800 USD you spent????
Are you serious right now? I would love the currency to come out to 1:1 to the USD then start trading on open markets because as more oil fields come online and the country makes more money, Dinars will increase in value.
and yes I'm talking about after the removal of the 3 zero's...
THE IRAQI PEOPLE WILL NOT GIVE UP 1000 DINAR TO 1! THE ARE NOT STUPID VERY EDUCATED COUNTRY! and numbers don`t lie if you have 1 million dinar and they rv at 2CT you will profit numbers don`t lie! PEOPLE DO!!!
Hello 2collect,
If they revalue the existing currency at any price it would be prohibitive. They have to many dinars in circulation and thats why they can't revalue the existing dinars. Meditate on that fact to help you better understand what their trying to get done politically. The new currency will be one of their biggest assets ever after they remove the old circulation via the imposed exchange rate 1000 to one. Were talking about initially 33 trillion dollars, not dinars, with a very small amount of luggage. The most amazing and befuddling part of this whole senario would be that they would only have to give up a small, but reasonable portion of the dinars 50 thousand per million @ a dollar each, and that would more than likely appease the majority of the dinar holders, glorify their country and build needed international recognition, and confidence in their currency, and righteous leadership. Its not over until the fat lady sings! The executive branch of the parliament are the lawmakers and have been reticent on revaluing the dinar with fairness.
Thanks for your comment,
Mark
THIS IS A CORRECTION 1000 OLD FOR 1 NEW will reduce the circulation!! Than the new exchange rate will become 1 dinar to the dollar. Sorry!
Hello 2collect,
If they revalue the existing currency at any price it would be prohibitive. They have to many dinars in circulation and thats why they can't revalue the existing dinars. Meditate on that fact to help you better understand what their trying to get done politically. The new currency will be one of their biggest assets ever after they remove the old circulation via the imposed exchange rate 1000 old for 1 new. Than were talking about initially 33 trillion dollars, not dinars, with a very small amount of luggage. The most amazing and befuddling part of this whole senario would be that they would only have to give up a small, but reasonable portion of the dinars 50 thousand per million @ a dollar each, and that would more than likely appease the majority of the dinar holders, glorify their country and build needed international recognition, and confidence in their currency, and righteous leadership. Its not over until the fat lady sings! The executive branch of the parliament are the lawmakers and have been reticent on revaluing the dinar with fairness.
Thanks for your comment,
Mark
TO REVALUE..
Iraqis existing currency @ 5 cents to the dollar would be $50 thousand dollars per million.
20,000,000 million dinars would be $1 million dollars.
100 million dinars would be $5 million dollars.
1000 million dinars (1 billion) would be $50,000,000 dollars.
1000 billion dinars (1 trillion) X (times) $50 million dollars would be $50 billion dollars,
The CBI's cash reserve is $60 billion dollars, which would only cover approximately 1.5 trillion dinars of the suggested 30 trillion in circulation.
Keep in mind these numbers are based on the existing Iraqi currency revalued @ only 5 cents. How can the Government of Iraqi cover 30 trillion dinars in circulation if it were to rise above even 1 penny?
The huge amount of dinar circulation was initially premeditated primarily for the purpose to reduce the dinar circulation produced from the weekly auctions that grossed many many millions of dollars for their country over the years. That plan is now being orchestrated by the proposed effort to delete the 3 zeros to reduce the circulation that will enable them to finally put a real value on their currency.
The 1000 old for 1 new subtle exchange rate will act to reduce the circulation according to the initial premeditated plan. All of the investors dinars save 1000 new dinars in exchange for 1 million of the old will help circumvent the dinar holders exclusion. When the new dinar currency is printed the normal exchange rate will become 1 dinar to the dollar, which will restore new confidence in the dinar currency.
However the cost to implement and sustain this cheap priced dinar plan for all of those years was primarily shouldered, and suffered by the beleaguered citizens, the foreign dinar investors, and the Iraqi private banking institutions.
The Iraqi constitution contains sufficient constitutional righteousness to resolve any questionable moral violations that may be imposed on the dinar investors and holders of Iraqis pending new currency, the subtle imposed exchange rate will leave the investors, and dinar holders only 1000 new dinars per 1 million for their keen dinar investment. The suggested 33 trillion new dinars will be worth 33 trillion dollars, and surely at least a 5% return on the holders keen investment should be a fairly reasonable, and affordable return for the GOI to reconsider.
Will someone please remove these several previous goofy comments that I made to prepare for this article...
TO REVALUE..
Iraqis existing currency @ 5 cents to the dollar would be $50 thousand dollars per million.
20,000,000 million dinars would be $1 million dollars.
100 million dinars would be $5 million dollars.
1000 million dinars (1 billion) would be $50,000,000 dollars.
1000 billion dinars (1 trillion) X (times) $50 million dollars would be $50 billion dollars,
The CBI's cash reserve is $60 or $65 billion dollars, which would only cover approximately 1.5 trillion dinars of the suggested 30 trillion in circulation.
Keep in mind these numbers are based on the existing Iraqi currency revalued @ only 5 cents. How can the Government of Iraqi cover 30 trillion dinars in circulation if it were to rise above even 1 penny? All of
the previous exchange rates are all about citizen buying power and that won't change. Relief will come with the new currency.
The over all huge amount of IQD circulation that transpired for 9 years was the primary purpose to delete the 3 zeros and reduce that circulation when time was right. The currency auction grossed many millions of dollars for their country over that period of time giving Iraq an distinct opportunity to finally put a real value on the Iraqi currency.
The plan to implement in 2012 has been deferred by the GOI to mid 2013 hoping for a stable government and viable economy backed by their multible resources that will enable them to finally put a real value on the IQD currency.
The 1000 old for 1 new imposed exchange rate will reduce the circulation accordingly. All of the holders and dinar investors save 1000 new dinars in exchange for 1 million of the old dinars is a major issue if implemented, and will require the parliament to reconsider the dinar retention outrageously unfair, citing total disregard for a righteous
return on an investment. The end result will ultimately enrich the country by an normal exchange rate that will become 1 dinar to the dollar times 33 trillion new dinars worth $1dollar each.
the cbi has stated over and over again they want all dinar worth $1.00 and that the LIFTING OF THE ZERO`S IS FOR THE LOCAL CURRENCY!!! DINARS ARE NOT THE ONLY CURRENCY BEING SOLD WON DONG YUAN YEN WHY IS IT I DON`T HEAR YOU GUY`S DOGGING THESE COUNTRIES ABOUT THE REVALUE OF THEIR CURRENICES? AND YES I`M HOLDING ALL THE CURRENCIES I JUST NAMED!!! I`M ALL EARS!!!
The Banks in Iraq are not making loans because they have went on record saying they have a shortage of cash. The CBI is saying 30 trillion is in circulation. So if the numbers are correct, then why are the banks saying there is a cash problem? At times you have to ignore what is reported even by the CBI and observe the street. I guess all the smart people overlook this part of the Iraq propoganda to discourage the currency parasite speculators. If you don't believe that the CBI is, has or, will reduce the money supply, GET OUT!! of this investment...IMO
Firstly, why don't people ever post links to where they find information?
Secondly, Edward you saying the banks have no money to lend so they going to reduce the money supply?
Who in their right mind would reduce supply when there is a demand for their product?
Do yourself a favor Edward. Stop listening to Breitling. Warka had a shortage of cash because of mismanagement which led to their insolvency. There's no shortage of dinar in Iraq.
EDWARD,
30 TRILLION DINARS IS JUST OVER $20 BILLION DOLLARS. REMEMBER THOSE 30 TRILLION DINARS IS ONLY WORTH LESS THAN 1 PENNY EACH, THATS WHY THE EXCHANGE RATE HAS ALWAYS BEEN RESTRICTED TO LOCAL CITIZEN MARKET BUYING POWER. THE EXISTING DINARS OUR WORTHLESS OUTSIDE OF IRAQI, IN A MANNER OF SPEAKING.
THE GAME PLAN HAS ALWAYS BEEN TO USE THE EXISTING DINARS TO REDUCE THE CIRCULATION, SO THEY CAN REVALUE THE NEW AND MAKE MEGA TRILLIONS OF DOLLARS WITHOUT LUGGAGE IF THEY DO IT RIGHT, AND THEY WILL WITH IMF AND BIS ARE CALLING THE CURRENCY SHOTS. IT DOESN'T HAVE TO BE A SCAM IF THEY GET THE GOVERNMENT AND THEIR ECONOMY STABLIZED TO ASSURE SUCCESS. THEY NEED TO CONSIDER A FAIR RETURN TO THE INVESTORS TO PULL THIS DEAL OFF WITHOUT UNNECESSARY REPERCUSSIONS. BUT THE GREED THE CBI HAS SHOWN WITH THE EMPOSED EXCHANGE RATE IS A MAJOR PROBLEM, UNLESS THE GOVERNMENT HAS A BETTER PLAN FOR THE WEARY INVESTORS.
Mark....
Which pumper/ guru/ scammer do you get your info from?
So they have a shortage in cash... AND they are going to reduce the money supply. That's a great one. Gotta be a Not-So-Breitling claim.
REPLY TO LZ,
THE INFORMATION CAME PRIMARILY FOR THE PAST FEW YEARS FROM THE HEAD OF THE CENTRAL BANK GOV. SHABIBI,IF YOU STAY ON TOP OF THE NEWS THE STORY HASN'T CHANGED SINCE SINCE THEY PRINTED THE EXISTING CURRANCY IN 2003 OR 2004. THE INVESTORS COULDN'T SEE THE TREES, BECAUSE OF THE FORREST. AND IT'S ALWAYS BEEN THIS WAY THATS WHY THEY CALL IT A SCAM FROM ALL OVER THE WORLD, PARTICULARLY THE UNITED STATES. BUT IT'S NOT AN OFFICIAL SCAM UNTIL THEY PRINT THE NEW CURRENCY, AND IF ITS STILL 1,000,000 OLD DINARS FOR 1000 NEW DINARS, IT AND SCAM! UNLESS THE INVESTORS ARE SATISFIED WITH THE RETURN OF 1000 NEW DINARS FOR THE MILLION THEIR PRESENTLY HOLDING, AND SOME WILL BE GLAD TO GET ANY PART OF THEIR MONEY BACK AFTER WAITING SEVERAL YEARS. DON'T FORGET THE 33 TRILLION DINARS PRSENTLY WORTH LESS THAN 1 PENNY EACH WILL BE WORTH $1.00 EACH, AND THATS WHY ITS SAFE TO SAY THAT THEY WILL BE ABLE TO LEAVE 50,000 DINARS WORTH $1.00 EACH FOR THE RETURN ON THEIR INVESTMENT. LOOK AT THE RETURN THEIR GETTING BACK FOR THE $20 BILLION PLUS INVESTMENT THEY MADE WITH THE INVESTORS, AND THE DINAR HOLDERS MONEY THAT THEY GOT FROM THE SALE OF THE DINARS IN THE AUCTION, AND NOW THEIR WILLING TO GIVE YOU YOUR MONEY BACK, AND NOT A PENNY MORE. SOUND LIKE A FAIR DEAL? AND YOUR PROBABLY GOING TO SIT BACK QUIETLY AND LET IT ALL HAPPEN. I'M LOOKING FOR CLASS ACTION LAW SUITS FROM ALL OVER THE WORLD IF THEY PRINT THAT NEW CURRENCY AND USE THAT IMPOSED EXCHANGE RATE 1000 OLD FOR 1 NEW DINAR. tHAT WILL GIVE YOU 1000 NEW FOR 1,000,000 OLD DINARS. THAT WON'T CALL THEM EXISTING DINARS AFTER THEY PRINT THE NEW. wAKE UP, AND UNDERSTAND INSTEAD OF POINTING YOUR FINGER BLOG BUDDIES.
Wow, do you think it will happen before the end if the world later this year?
I hope you get help..... Fantasyland can become Hell.
Marc Duncan.,
Do you really think they give a rats Arse about the investors? You are quite delusional and really need to get a grip. Just face it ... It's a scam and all dinar holders will loose . Period.
THIS IS REVISED, AND A LITTLE CLEARER UNDERSTANDING OF WHATS COMING DOWN THE PIKE.
REPLY TO LZ
THE INFORMATION CAME PRIMARILY FOR THE PAST FEW YEARS FROM THE HEAD OF THE CENTRAL BANK GOV. SHABIBI, IF YOU STAY ON TOP OF THE NEWS THE STORY HASN’T CHANGED SINCE THEY PRINTED THE EXISTING CURRENCY IN 2003 OR 2004. THE INVESTORS COULDN’T SEE THE TREES, BECAUSE OF THE FORREST. AND IT’S ALWAYS BEEN THIS WAY, AND THAT'S WHY THEY CALL IT A SCAM FROM ALL OVER THE WORLD, PARTICULARLY THE UNITED STATES, AND THOSE PROS HAVE 20/20 VISION. BUT IT’S NOT AN OFFICIAL SCAM UNTIL THEY PRINT THE NEW CURRENCY, AND IF ITS STILL 1,000,000 OLD DINARS FOR 1000 NEW DINARS, IT'S A SCAM! UNLESS THE INVESTORS ARE SATISFIED WITH THE RETURN OF 1000 NEW DINARS FOR THE MILLION THEIR PRESENTLY HOLDING, AND SOME WILL BE GLAD TO GET ANY PART OF THEIR MONEY BACK AFTER WAITING SEVERAL YEARS, AND THAT'S THE PLAN OF THE CBI. DON’T FORGET THE 33 TRILLION DINARS PRESENTLY IS WORTH LESS THAN 1 PENNY BUT IT WILL BE WORTH $1.00 EACH $30 TRILLION DOLLARS OR WHAT EVER NUMBER THEY DECIDE TO PRINT. AND THATS WHY ITS SAFE TO SAY THAT THEY WILL BE ABLE TO LEAVE 50,000 DINARS WORTH $1.00 EACH FOR THE INVESTORS, AND HOLDERS RETURN. LOOK AT THE RETURN THEIR GETTING BACK FOR THE $20 BILLION PLUS INVESTMENT THEY MADE WITH THE INVESTORS, AND THE DINAR HOLDERS MONEY THEY GOT FROM THE SALE OF THE DINARS IN THE AUCTION, AND NOW THE CBI IS WILLING TO GIVE YOUR MONEY BACK, AND NOT A PENNY MORE. SOUND LIKE A FAIR DEAL?? AND YOUR PROBABLY GOING TO SIT BACK QUIETLY AND LET IT ALL HAPPEN. I’M LOOKING FOR CLASS ACTION LAW SUITS FROM ALL OVER THE WORLD IF THEY PRINT THAT NEW CURRENCY AND USE THAT IMPOSED EXCHANGE RATE 1000 OLD FOR 1 NEW DINAR TO REDUCE THE CIRCULATION BEFORE THY REVALUE THE NEW CURRENCY, THAT WILL GIVE YOU 1000 NEW FOR YOUR 1,000,000 OLD DINARS. THEY WON’T CALL THEM EXISTING DINARS AFTER THEY PRINT THE NEW. WAKE UP, AND UNDERSTAND INSTEAD OF POINTING YOUR FINGERS, BLOG BUDDIES. THIS IS A HUGE COLOSSAL CURRENCY DEAL FOR IRAQI, IF THE GOVERNMENT CONSIDERS A RIGHTEOUS RETURN FOR ALL DINAR HOLDERS. TRY PLAYER!
THANKS,
MARK
If those without a clue or a bit of understanding about how Central Banks economics, especially what is fractional banking please do not try to make a fool of yourself and call this a scam, likewise if you were to invest in stock exchange, paying cash for a piece of so call certified paper you might lose everything, not getting a cent back of your investment but no one call it a scam, as for IQD it's a currency exchange, at least if you do not want to wait at least you do not lose everything. Read about fractional Banking and why Gorverner Shabibi of CBI keep repeating 10 years for Central bank around the world to bring back Old IQD to Iraq and two years for us to cash in. Gorvener of Central Banks do not wants enemy by scaming us to buy IQD
How do you know this?
Do you really think Iraq has more money than every other country in the world combined?
I feel bad for those that continue to hope and pray that there will be a big RV..Cause it's not ever gonna happen!
CaYou Can’t Fix Stupid: The Iraqi Dinar Scam
https://www.iraq-businessnews.com/2012/08/06/you-cant-fix-stupid-the-iraqi-dinar-scam/
It is sad… but at some point you just have to realize the above statement is true, some people are simply so stupid there is nothing you can do for them.
Andy... give us fools a quick explanation of how Central Banks use fractional Banking. It will be intertaining to hear what you have learned from the likes of Not-so-Breitling, Kaperfoni, and Adam (porn purveyor) Montana.
Esto es bien facil... el que no cree que los IQD subiran de valor en un futuro pues no inviertan en ellos!!!! para que critiquen tanto es mas facil que se compren un boleto de la loteria y yaaaaa .. no critiquen los que otros creen que sucedera