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 ...
Last time I checked the bills they carry around are worth pretty much the same as the bills we carry around.
25000 is about $20 bill.
10,000 is about a $10 bill.
5000 is about a $5 bill.
1000 is about a $1 bill.
You wiping your butt with those?
Planning expects the dinar improved
6.30.13
Minister of planning and development cooperation Minister of finance Youssef El shukrijumah agency should exit Iraq from Chapter VII will be reflected positively on the economy in the country.
He moved to the Iraqi national lllanbaa agency/Nina/”exit Iraq from Chapter VII will have a clear impact on economic growth and the exchange rate of the Iraqi dinar against other currencies.El shukrijumah said: “Iraq will be a positive and good after coming out of Chapter VII, which provides for Iraq to move on.
The UN Security Council on Thursday voted unanimously to exit Iraq from Chapter VII to chapter VI of the Charter of the United Nations.
The decision came after Secretary General Ban Ki-moon to eject Iraq from Chapter VII of its commitment to the implementation of United Nations resolutions on the question of Kuwait.
albayaniq.com
http://iraqidinarchat.net/?p=20491
After the disposal of the international provisions increase in the value of the Iraqi dinar
Baghdad-Hussein thghb Al-Tamimi
Hours after Iraq concludes from the provisions of Chapter VII, the exchange rate of the Iraqi dinar soared against the dollar. As a member of the Association of private banks Saif Al hilfi, "Iraqi dinar exchange rate against the dollar has seen a return to normal levels after Iraq output resolution of the provisions of Chapter VII." John said in an interview for (News Centre for the Iraqi media network): "the rate of the dinar against the dollar stabilized at 1210 dinars per dollar," pointing out that the coming days would witness continuous rise of the Iraqi dinar value. and John explained that override the provisions of Chapter VII a huge benefit, and that everyone has confidence in Iraqi dinar, Iraq has large financial reserves. The next phase will witness a new investment trend is popular companies and investors and citizens to invest in the Iraqi dinar, stressing that the economic scene readings indicate a significant demand for the dinar will contribute to raising the price paid to foreign currencies.
http://www.alsabaah.iq/ArticleShow.aspx?ID=49243
Planning expects the dinar improved
June 30, 2013
Minister of planning and development cooperation Minister of finance Youssef El shukrijumah agency should exit Iraq from Chapter VII will be reflected positively on the economy in the country. He moved to the Iraqi national lllanbaa agency/Nina/"exit Iraq from Chapter VII will have a clear impact on economic growth and the exchange rate of the Iraqi dinar against other currencies.
El shukrijumah said: "Iraq will be a positive and good after coming out of Chapter VII, which provides for Iraq to move on." The UN Security Council on Thursday voted unanimously to exit Iraq from Chapter VII to chapter VI of the Charter of the United Nations. The decision came after Secretary General Ban Ki-moon to eject Iraq from Chapter VII of its commitment to the implementation of United Nations resolutions on the question of Kuwait.
http://www.microsoft...niq.com/?p=9811
Do you really think that posting this nonsense will inspire people on this thread to buy dinars?
Dinar pumpers need to aim their swindle to the WWE crowd.
We all know it's a total scam and you sir are a scammer or a sucker.
I bet people like you shoot at the moon when it's pretty...nuff said...lol....
ANOTHER LINK FOR THE ABOVE: http://www.dailynews.lk/2013/07/01/bus01.asp?
"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?"
My only thought would have to be that someone would be willing to pay 1000x what someone else paid if they thought that they could sell it themselves for "X" times what they paid.
Why would someone pay $500 a share in Google if the person selling it only paid $40? Because they believe the value may go up for them too.
"If there was any possibility of a 1,000x revaluation, would dinar sellers be so keen to sell their stock to you? Is it possible that they think their mark-up is the best profit they can make?"
As for the sellers too, until a change in value occurs, it's only worth a small markup. Why wouldn't a stock broker just take his commission and buy the same stock you are? Because he's a broker, not an investor. If the Dinar dealers do end end up holding large amounts of USD in dinar (if the time comes) I would expect them to buy back any dinar at an international rate and sell it back to the next investor who hopes it will increase that much more. If $1000 became $1M, and an "investor" exchanged it at the bank for $1m at fair market value; the bank would then sell it to the next "investor" who thinks it may appreciate to $2m. Not as huge a gain but a gain for the new player.
I don't hold dinar but I find it interesting to follow.
Defr said 'I would expect them to buy back any dinar at an international rate'
Awwww, I think that's so sweet 🙂
WHO, IN THEIR RIGHT MIND, IS SCARED OF A "GOLD BACKED CURRENCY"?...NOT TO MENTION "PEAK OIL"?...LOL....
Governor of the CBI: Gold reserves outweigh $76 billion in foreign currency reserves
Wednesday, 03 July, 2013
The Central Governor “Obelisk”: we have the largest gold stocks foreign currency
Uncover the Iraqi Central Bank Governor/AFP Abdel Basset Turki, Wednesday, the Iraq stock of gold is greater than the balance of foreign currency, transfer a group of corrupt files in the Central Bank, adding that the exit from Chapter VII will allow us the freedom to act more flexibly, stating that the project raise zeros from the currency has been postponed for the time being.
Turkish said in an interview with “the Obelisk” of Karbala that “Iraq has stocks of gold is greater than the balance of foreign exchange and gold reserve is managed by the Iraqi Central Bank and deposited in the Bank for international settlements as an agent of the Central Bank”, stating that “Iraq is now safe owner even before out of Chapter VII and the gold in question constitutes 10% of the Treasury reserve components of the Central Bank and President reserve consists of foreign currency is used to determine the foreign exchange rate and ours until May last 76 billion dollars in hard currency.
“It was a group of corrupt files in the Central Bank and have been accused of some officials about this corruption has issued some provisions in the first case, some managers have been bringing issues of private banks.”
Turkish “denied the existence of frozen funds outside the control of the Iraqi administration,” frozen funds being diverted to tout UN resolution either before or after the chapter VII to a fund managed by the Central Bank of Iraq “.
Turki said that “out of Chapter VII will allow us the freedom to act more flexibly as well as creating an atmosphere to attract foreign investment,” he said, adding that “the great importance is the complete sovereignty of Iraq because being situated under the provisions of Chapter VII offered strong international intervention in some decisions on Iraq,” and that “Iraq out of Chapter VII-VI means the possibility to solve the problems bilaterally with States without international intervention, an important step in Iraq.”
He revealed that “the financial statements did not send to the Central Bank, despite our call out where our bills up to 30/6 and we didn’t until now.”
He said that “the relationship between currency and issued on the basis of the content of gold disappeared since 1971 and is the value of a currency depends on foundations are the strength of the economy and the ability to maneuver through the presence of foreign currencies can pumped into the market.”
The “budget” is heading to Iraq expressing confidence through watching the accounts to the Treasury coffers and expected earnings rounded enough to implement the budget even if 100% exhausted. “
And for laundering Turkish said it sentenced two accused of money laundering and there are still four people accused of directly and have begun checking transactions since we receive important Central Bank promised to old transaction that we believe a problem where we have discovered a key observations, send for us directors Commissioners and officials of banks and we debated them in these observations, we forwarded to the judiciary did not believe their arguments “.
Turkish revealed on “the postponement of the project raise zeros from the currency and the value of the Iraqi dinar Maint for more force because we passed the bottleneck.”
LINK
MORE BEING DISCOVERED DAILY!....
Iraqi Oil Ministry: Gas revenues from the southern fields will amount to USD 500 Billion
26-06-2013 - 14:00
Iraqi Ministry of Oil announced on Wednesday that associated gas investment revenues in the southern field for the upcoming 20 years will amount to about 500 Billion Dollars; stressing that Iraq burns 40-45% of this associated gas.
“Revenues will exceed 500 billion Dollars in the next 20 years by investing 40 billion Dollars in extracting associated gas from the southern fields”, said a highly-ranked official from the Ministry in a statement to Alsumaria.
“Revenues will rise to 550 billion Dollars if gas is used as a carburant in electricity plants instead of crude oil”, it revealed.
“Burning 1000 standard cubic foot per day constitutes a loss of 3.7 billion dollars per year”, added the source who wished to remain anonymous, highlighting that “projections show that natural gas production in Iraq will range between 19 and 115 billion standard cubic meter by 2035”.
“Iraq burned about 40-45% of the associated gas from previously exploited fields”, pointed out the source; considering that “establishing Al Basra’s gas company will greatly reduce gas burning in these fields”.
Preliminary estimations point out that Iraq has a reserve of 112 trillion cubic feet of gas, however 700 million cubic feet are burnt and wasted daily, for lack of proper infrastructure.
Iraq ranks in the 10th position worldwide among gas-rich nations after Russia, Iran, Qatar, Saudi Arabia, Emirates, USA, Nigeria, Venezuela and Algeria; with a reserve of 112 trillion cubic feet of gas, however 700 million cubic feet are burnt and wasted daily, for lack of proper infrastructure.
THE LINK : http://www.alsumaria...outhern-fiel/en
THERE ARE LITERALLY HUNDREDS OF THINGS LIKE THIS GOING ON IN IRAQ....SO IF THE WORLD IS'NT SCARED OF IRAQ...I'M NOT!...IT'S CALLED..."FOLLOW THE MONEY"...LOL....
Iraq, Russia agree to open Baghdad-Moscow airlines
Tuesday, 02 July 2013 15:20 | | |
Baghdad (AIN) -Iraq and Russia agree over launching airline between Baghdad and Moscow.
The official Iraqia Sat Channel reported on Tuesday "The Iraqi delegation which is visiting Russia currently headed by the Prime Minister, Nouri al-Maliki agreed today with the Russian government to open the Baghdad-Moscow airline."
"They also agreed on facilitating the entry of the businessmen and grant visas for the Iraqis to Russia," according to the report. /End/
http://www.alliraqne...-11-19-15-21-51
NOTE: I LIKE THIS LAST PARAGRAPH..LOOKS AS IF THEY ARE SAYING THAT
THE (3) ZERO'S PROJECT HAS BEEN SCRAPPED PERHAPS?...WAS IT JUST A
SMOKESCREEN FOR A "LOP"?....AND IT LOOKS AS IF THEY ARE SAYING THAT
THE DINAR HAS MORE "POWER" ALL OF A SUDDEN?...AND THAT THE PROBLEMS
ARE OVER MAYBE?...AS IN PASSING THE "BOTTLENECK"?...AND IT LOOKS
LIKE THEY ARE DOING WELL WITH GOLD HOLDINGS AS WELL?...I GUESS AS
WE WAIT AND SEE?...
(((Turkish revealed "to postpone the project raise zeros from the
currency and the value of the Iraqi dinar toward climb to more
power because we passed the bottleneck.")))
Governor of the Central for "obelisk": We have stocks of gold's
largest foreign currency
03/07/2013 13:30
BAGHDAD / obelisk: Detect Iraqi Central Bank Governor / Agency
Abdul Basit Turki, Wednesday, that the stock of Iraq's largest gold
from the tally of foreign currency, confirming the assignment set
of files of corruption at the central bank to the judiciary, adding
that the exit from Chapter VII will allow us greater flexibility
discretion, noting that the project raise zeros from the currency
has been postponed for the time being.
Said Turki in an exclusive interview with "Obelisk" of Karbala that
"Iraq has stocks of gold is greater than the tally of foreign
currency and gold reserves of Iraq is managed by the central bank
and deposited at the Bank for International Settlements as an agent
of the Central Bank," noting that "Iraq is the owner of the
treasury now, even before getting out of Chapter VII and the gold
before a proportion of 10% of stockpiling reserves of the
components of the Central Bank and Reserve President consists of
foreign currency and is used to determine the exchange rate of
foreign currency احتياطنا until last May $ 76 billion of hard
currency. "
"Referred to a set of files of corruption at the central bank to
eliminate was indicted for some officials for corruption some
verdicts have been issued in the first case, as has been bringing
in some of the issues managers of private banks to investigate."
Turki denied "the existence of frozen funds outside the control of
the Iraqi administration," stressing that "the frozen funds being
diverted down according to the UN resolution both before and out of
Chapter VII or beyond to the fund managed by the Central Bank of
Iraq."
The Turkish that "out of Chapter VII will allow us the freedom to
act greater flexibility in addition to creating a general
atmosphere to attract foreign investment," adding that "the great
importance is the completion of Iraq's sovereignty because Quana
under the provisions of Chapter VII offered for the intervention of
international forces in some of the decisions on Iraq , "and that"
the withdrawal of Iraq from Chapter VII-VI means the problems could
be solved bilaterally with countries without international
intervention and this is an important step on the level of Iraq. "
He revealed that "the financial statements did not send to the
Central Bank in spite of our demand so we asked for statements
until 30/6 did we receive until now."
He said that "the relationship between the value of the currency
and issued on the basis of the existence of the gold content
disappeared since 1971 and thus value of the currency depends on
two foundations of the strength of the economy and the ability to
maneuver through the presence of foreign currencies can be pumped
in the market."
And that "Iraq's budget going to rise," expressing his confidence
in "through my follow up of the accounts of the Ministry of Finance
stocks, roundish and unexpected revenue sufficient for the
implementation of the budget, even if 100% exhausted."
And money laundering, said Turki that "been sentenced two of the
defendants laundered the money and there are still four people
accused of directly we have begun to audit the transactions since
we receive the task of the central bank and returned to the
transactions ancient that we believe the existence of problematic
where we have discovered the existence of Notes basic Fastqdinma
managers commissioners and officials banks and Naakecnahm in these
observations and احلنا to eliminate from not convinced Bhjajhm ".
Turkish revealed "to postpone the project raise zeros from the
currency and the value of the Iraqi dinar toward climb to more
power because we passed the bottleneck."
almasalah.com
CBI: CH VII will give Iraq freedom to attract investment. US Development Agency: Iraq qualified to be economically strong state
Director of the Central Bank of Abdul Basit Turki during the opening of the Financial Control Directorate building in Karbala
Central Bank: precautions reached (76) billion dollars out of Chapter VII will give us the freedom to attract investment
7/3/2013, 14:38
The Central Bank of Iraq, on Wednesday, that Iraq is “in control of the funds and treasury of gold” in international banks, one of the acting out, denying “the existence of frozen funds outside the control of the Iraqi administration,”
While revealed that the reserve bank amounted to 76 billion dollars in last May, counting out of Chapter VII that “will allow Iraq to act more freedom to attract foreign investment.”
The head of the Office of Financial Supervision and the Governor of the Central Bank and Agency Abdul Basit Turki Sabri, in an interview to a number of media, including (range Press), on the sidelines of the opening of Building Directorate of financial control in the province of Karbala, and the presence of the Governor Aqeel Turaihi and a number of local officials, said that “the building The new Directorate carried out in a manner direct implementation by the engineering and technical cadres of the Federal Audit Court, “noting that” the BSA seeks to create a training and rehabilitation centers in all provinces for the development of accounting and control capabilities for all government employees. “
The newborn to “talk about the existence of frozen funds for Iraq outside the control of the Iraqi administration is not accurate,” adding that “all Iraqi funds abroad are being diverted down according to the international resolution to the account of the international filing of the Central Bank of Iraq, one of the acting out.”
He said the central bank governor and the agency, “The Iraqi gold stocks, it does not exceed 10% of the components of the Iraqi reserves,” pointing out that “deposited with the Bank for International Settlements and managed by him in his capacity as an agent for the Central Bank of Iraq.”
He revealed Sabri that “the size of reserves Central Bank of Iraq until the month of May 2013 amounted to about 76 billion U.S. dollars,” explaining that “Iraq’s budget heading toward the rise during this period,” pointing out that “the Iraqi Ministry of Finance has a reserve and roundish and revenues separate from the bank Central تكفيها even though the budget implemented by (100%). “
He said the central bank governor that the agency “out of Iraq from Chapter VII will allow us freedom of action and more flexibility in the process of attracting foreign investments and create a suitable atmosphere to hold agreements Iinaah with Arab and foreign countries without international intervention and internationalist.”
The International Monetary Fund, announced in the (March 23, 2013), that the funds preventive in the Development Fund for Iraq rose in 2012 to $ 18 billion, and cash reserves of the Central Bank of hard currency to $ 70 billion, and pointed out that this increase came from “revenue unexpected oil “, called on the Iraqi government to end the control of the state-owned banks on the banking sector, he stressed the need for Iraq to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.
The U.S. development agency predicted in (December 3, 2012) that leads the Iraqi economy, the Arab countries within five years, stressing that Iraq possessed all the qualifications to be an economically strong state.
Iraq is trying for years to attract foreign capital to develop its economy in the fields of industry especially oil, including housing and oil and gas extraction, for the need of funds for infrastructure development and reconstruction, but Mariqben contend that the lack of interest of the state to the private sector and the absence of investment laws which guarantees for investors and the absence of Other laws are still obstacles to the evolution of the economy in the form required.
Iraq relies which has the fourth largest oil reserves in the world at 95 percent of its annual budget on its oil exports and currently produces about two million and 900 thousand barrels per day, while the issue up to two million and 200 thousand barrels per day.
http://bit.ly/17VZ0nr
To 4aprofit......so where do you recommend we purchase dinars from?
You have convinced me that this is a smart investment.
"the project raise zeros from the currency has been postponed for the time being"
I think it would take the intelligence of about an 6th grader to understand this quote. The redenomination/lop has been postponed for now, meaning it will still eventually happen.
Iraq made a big mistake to move some of their reserves to gold. Gold has tanked since then. Only in the land of dinar would someone be talking about Iraqs gold moves as a positive. They lost their rear on their gold play.
Apparently some are not staying on track here...Iraq has been buying tons of Gold...even recently...(while prices are down)....this is per the many news articles for many months or longer that have been coming out....and this is not to mention the Gold that Iraq already had, not only physically, but in the ground...some of it that has not even been mined yet, as one entire region has lots of it, and even an area they discovered in Baghdad, whereby a huge vein of Gold was discovereed a few months ago.....so, my message to those looking for the negativity in this...dont leap before you look, at least as per Iraq!...lol...
We have just removed many recent posts from this discussion, as our readers do not appreciate:
- poorly translated (often incomprehensible) material;
- comments without proper formatting (e.g. no paragraphs);
- comments that are not relevant to the discussion;
- repeated posting of the same comment;
- advertising for other websites.
Please keep your comments relevant, concise and polite.
Thank you.
- Editor
the fact that the usa doesn't back their money with gold is stupid. ooooooooo and by the way iraq bought billions of dlrs worth of gold and have the oil to back it. we should never under estamate the people over seas and their ability to make their money, qwait rvd @ 2.41 with the 30 billion in the bank plus the gold to back. I could go on but need to leave. 4aprofit has said enough and knows mor than I so I will leave u with that hope you all are ready for the usa to find out why we should have been back buy gold doesn't matter how much u pay in the long run it all evens out ........
They have more gold than anyone anywhere... they back their money with gold, just like most European countries. How do they lose their butts when they can sell or just dig more up, lol Iraq will rv not a float or LOP... it is almost here, keep the faith!!
Took me about a minute to debunk that, wayne. http://www.asianbizz.com/top-10-countries-with-largest-gold-reserves
They back their currency with their foreign currency reserves like their Arab neighbors do. And they don't have enough in their reserves to RV by more than a few %.
Najiba Najib: government to take measures to support the exchange rate of the dinar does not represent the policy of the central bank intervention
14-07-2013 10:45 AM
Baghdad (news) .. A member of the Finance Committee MP / Kurdistan Alliance / Najiba Najib, said the government taking urgent measures to strengthen the Iraqi dinar to not considered entering the work of the central bank, saying that the current laws are not commensurate with the policy of a free market economy. explained Najib (of the Agency news): The strengthening of the dinar Iraq is not the responsibility of the central bank only, but is claimed the responsibility of all institutions and concerned Iraqi state, indicating that Iraq needs a strong economy and a strong currency. said: there must be urgent action and strategic plans by the government to strengthen the economy, without a strong economy and produce local and draws the state can not strengthen the Iraqi dinar. They indicated: that the legislation window does not fit with a free market economy, nor with the government's plans on strengthening the economy, noting that the strengthening of the dinar to ايطبق in a short period but need a set of procedures and a package of laws to get the desired results. mentions that the Iraqi Central Bank is responsible for monetary policy and there is a tendency for the integration work between the central bank and the government to raise the purchasing power of the Iraqi dinar. / End / 5. h. P /
Iraqi hard cash and gold reserves hit new high
Azzaman, July 13, 2013
Iraq’s hard cash and gold reserves are surging and their sheer volume makes it difficult to decide how to invest them, Iraqi lawmakers said.
Hard cash reserves, they said, have skyrocketed to $76 billion and god bullions to 30 tons.
“We are in need of a sound economic policy to invest our reserves,” said Salman Mohammed who sits on the parliament’s Economic Commission.
Salman hinted that the country lacked a clear and transparent policy on how to invest its reserves, which are rising almost on a monthly basis due to the influx of royalties from increased levels of oil exports.
“It is necessary to preserve these reserves through well-planned investment with good and guaranteed returns,” Mohammed said.
Another deputy, Kadhem al-Shamari said quick and sound measures were required on how to invest the country’s “$76 billion and gold bullions of 30 tons.”
Last week, the Central Bank predicted a bright future for Iraqis, saying the economy was strong with the potential to address any future economic and financial hurdles facing the country.
The country’s massive hard cash and gold reserves have prompted the parliament to expedite its debate and approval of a draft law that will make it incumbent on the government to set up a generations fund to guarantee that Iraq’s future generations will also have a chance to benefit from the current riches.
http://www.azzaman.com/english/?p=866
Wait, hold on folks......... The Kuwaiti Dinar came back out and then went up to like 7 to 1 to get in all big money that was out... Iraq is bigger and richer and you think it is a scam or can't see how there can be a profit made? WOW!
To SAM I SAY -- This is correct for now. With the volume of gold being found and dug up in Iraq, they will be one of the largest gold holders. And they stated they expect to be the largest holder of gold. Especially with what they expect to find, just like the oil they keep finding and the gas and the diamonds....
In an article I read it stated they can back their money by gold over 2 1/2 times right now....just with GOLD!
It’s stunning that almost ten years after the introduction of this dinar and the scam surrounding it that people can still be this misinformed.
Kuwait never went to 7:1. That was proven a lie about 9 years ago on dinar forums, yet here we see it still lives on.
Iraq has about 30 tons of gold. That’s about $1 billion worth of gold.
Iraq has about 70 Trillion dinar, worth about $70 billion. In what strange world is 1 two and half times more than 70?
LOL, The Kuwaiti dinar did go 7 to 1 for a few hours. I do not know where you found it didn't, but you are misinformed obviously. Send it to me.
As for the gold, they have and have mined a lot more than they have reported. Just like the oil, I was also speaking of the gold they believe to have, just not mined as of yet.... kind of like the oil and gas they speculate having and by the way the US agrees with them on the amount of oil and gas they project to have very very soon...
Read the facts not the forums, Stew.
That’s hilarious that you tell me to read the facts and not the forums when both things you mention have only been claimed on dinar forums and never presented in any factual way. I can’t provide you a link that says Kuwait didn’t go 7:1 just like I can’t provide a link that says Kuwait didn’t go to 700:1. I could provide you with a number of links about Kuwaiti currency history and they will all talk of how the official value never changed. It was only that some people lost confidence in the currency and sold what they had in their pockets for a discount, and once Saddam was removed they put out a new version of the currency at the same rate and there is no mention of this mythical 7:1 rate. I could also link numerous FX websites that show Kuwait’s historical exchange rate and none will show the rate you speak of.
As for the gold. Here again you are just making things up, even admitting that it has never been reported. So where would I read that fact?
Only in dinar land would a conversation like this exist.
Sounds like stew got scwed....and he is upset
Yep!! I got most of mine in Iraq and the rest from [advertising removed].
I missed out on Google, I wont miss out on IQD.
Some feel it will only RV from 1166 to 1000 and go from there once the investors and all other countries get involved. I think it will at least come out 2 to 1 what is your opinion 4aprofit?
There is a problem with the 'strong currency' mantra for dinar investors.
....A strong, highly valued currency has to have a strong resource base and a low liquidity level. ...Problem is, Iraqi dinar has liquidity levels around 40 trillion in print, and close to 80 trillion in their M2. .....This is what currently sets the poor exchange rates with other currencies. ...To get rid of all this liquidity, Iraq will have to either redenominate or issue a new currency.
.....Neither of which would be a giant windfall for current dinar holders!
I DO EXPECT SOME PROFIT POTENTIAL, BUT NOT THE MYTHICAL RV THAT HAS DRAWN SO MANY TO THIS CURRENCY!
That's all true FactFinder except where you say "Iraq will have to either redenominate or issue a new currency."
That should be "Iraq will have to redenominate AND issue a new currency" becuase that's what a redenomination does. There is always a new currency involved in a redenomination.
Redenomination? NO, they made some new currency to make trade easier, like the US money ; 50's, 100's etc. We will see soon what they do with the revaluation of their currency. Sounds promising to say the least.
You are living in a fantasy world Wayne, where you think countries announce a 100,000% RV of their currency years in advance. And in this fantasy world you live, this currency drops in value as the country says it will increase it's value 100,000%. Strange world you live in Wayne.
HUH???...This ought to tell us that something is definitely up!!!!!!!!
THE U.S. NATIONAL DEBT HAS STOPPED GROWING?
Treasury: Debt Has Been Exactly $16,699,396,000,000.00 for 56 Days
July 15, 2013 - 5:33 PM
http://cnsnews.com/news/article/trea...000000-56-days
They will RV, when exactly, I didn't say. I don't know any more than you when you say it will not RV. But, I can tell you it will RV and according to the Iraqi press, they believe it will and is coming soon. Fantasy world? NO, reality!! All the reserves and money unfrozen from the removal of chapter VII alone, they can and will RV. I see you are just plain stupid and will only believe what you want to. At least I have a couple of contacts in Iraq and I know for sure I can say I do know more than YOU!! So see ya later, you do not matter to me at all and will not waist any more of my time on you.
Wayne....Stew and few others have jumped on everyone that say's anything POSITIVE...so I just ignore these guys the best I can...they are irrelivant to this as an investment...as why are they even on here if they hate it so bad?...Hey, as an example, if I like to go fishing, I dont go to needlecrafting!...LOL..
Nice article from the treasury-Dept. 4aprofit..... Yes, I know what you mean..... lets all go fishing, them needles hurt!!
Iraq News: Central Bank Governor promises bright future for Iraqis
Posted on July 11, 2013
Iraq’s financial capabilities are stronger than any challenges the country might be facing, said Deputy Governor of the Iraqi Central Bank Abdulbasit Turki.
“The near future will be a surprise … our potentials are greater than any challenges we are going to face,” Turki said.
Turki made the remarks during a celebration marking the 10th founding anniversary or Iraq’s Commercial Bank.
Turki took over the Central Bank’s administration almost 10 months ago, following a period in which the bank’s former leadership was alleged to have pursued policies detrimental to the country’s economy and the exchange rate of its national currency, the dinar.
Iraqi Central Bank’s coffers are reported to be brimming with hard cash with reserves estimated at more than $70 billion.
Turki said the short period in which he has been at the helm of the country’s most influential financial institution has provided him with evidence that Iraq will overcome its economic difficulties with great leaps forward in the near future.
He did not elaborate, but hinted that his bank was negotiating with international banking institutions to open branches in the country and at the same time encourage foreign investment.
“We have met delegations from some of the world’s largest banks who are willing to start operating in Iraq,” he said.
Turki said his institution wants to turn Iraq into an arena for investment, particularly by foreign firms and entrepreneurs to rebuild its infrastructure.
“Iraq is open to all investors willing to invest in it and reconstruct its institutions,” he said.
Source: Azzaman
Azzaman, July 13, 2013
Iraq’s hard cash and gold reserves are surging and their sheer volume makes it difficult to decide how to invest them, Iraqi lawmakers said.
Hard cash reserves, they said, have skyrocketed to $76 billion and god bullions to 30 tons.
“We are in need of a sound economic policy to invest our reserves,” said Salman Mohammed who sits on the parliament’s Economic Commission.
Salman hinted that the country lacked a clear and transparent policy on how to invest its reserves, which are rising almost on a monthly basis due to the influx of royalties from increased levels of oil exports.
“It is necessary to preserve these reserves through well-planned investment with good and guaranteed returns,” Mohammed said.
Another deputy, Kadhem al-Shamari said quick and sound measures were required on how to invest the country’s “$76 billion and gold bullions of 30 tons.”
Last week, the Central Bank predicted a bright future for Iraqis, saying the economy was strong with the potential to address any future economic and financial hurdles facing the country.
The country’s massive hard cash and gold reserves have prompted the parliament to expedite its debate and approval of a draft law that will make it incumbent on the government to set up a generations fund to guarantee that Iraq’s future generations will also have a chance to benefit from the current riches.
Wayne,
Those are real nice advancements for Iraq, but you really need to use a calculator for your own decisions.
.....$77 billion in gold and cash reserves don't go very far with a currency holding an M2 approaching 80 trillion dinar!
They are going to redenominate, and have made it clear to all willing to listen.
....The big question is what is going to happen to outsiders holding dinar when the currency exchange begins.
....If you can enlighten us on that matter, I'm sure all will appreciate it, but it should be obvious that Iraq can not be the source of most of these 'mythical' funds.
$77 billion divided by 80 trillion = 1039 dinar per dollar.
LOL. There's your huge RV.
Iraq's exchange rate for about 10 years now has been approx reserves divided by M2. Yet not one of the mighty gurus could figure it out.
I got banned from a number of dinar boards for pointing out that simple fact.
Well I guess since no one knows the amount of their reserves.... you make no sense either... With the total of what they have without the gas and oil they can RV and cover all issues that they would be faced with at 2.50 to 1
They will not redenominate at this point and time, period!! What would that do to them if they did? Just the opposite of what they want to do and be in less than a year.
I wouldn't have banned you Stew, you make me laugh!!!!