blackrobes

Good grief, who listens to the greatest liar on the planet, one Space Cowboy.

BETTYBOOP, thank you for your sound observations and can I add one other point for your consideration. Namely there is an obsession in many quarters that Iraq must/can only deal in dinars when transacting with other countries. This is simply not true, for instance Iraq sells its oil denominated in US dollars and no doubt does the same with other raw materials or manufactured goods possibly using other currencies for brokerage. The resultant income can then be converted in part or whole to dinars. Bartering oil or other products for foreign goods and services is relatively common and in part obviates any necessity to speedily revalue the Dinar. My comments not with standing, I hope to God this damned country gets on with it so that we can do likewise. Best wishes to all members of this site for 2024.

cranman, well put and your's is the question of the ages. As yet another year draws to a close, we once more face the dilemma of unrequited wealth that countless pundits have for years forecast would be forthcoming. Iraqi politicians and bureaucrats seem endlessly able to dream up new measures that must be implemented before any significant increase can occur in the dinar's value. One real current worry for me is the violence being directed towards American diplomats and military personnel and I am of the view that Iran continually wants Iraq to remain a vassal state so keeping Iraqis poor suits the mullahs. As to how to long to hang on for, what can any of us do except grit our teeth and remain hopeful of getting sound advice from knowledgeable experts. Do you know any??

You are completely correct. The banking situation and business in general in Iraq will never be perfect or even without corruption, this is just in the nature of middle eastern people. I have never seen or heard anyone who can adequately explain to me why Iraq cannot increase the value of their currency and let the chips fall where they will. horsesoldier, the last 15 years of my life waiting for the never ending saga of the potential revaluation of the Iraqi dinar has simply put, been soul destroying. I am not by nature a pessimistic man but frankly I think my crypto currency holding will ultimately make me far more money the fairly substantial amount of dinars I bought many years ago.

This video speaks for itself, I wonder if Iraq will ever rise out of the quagmire of corruption? The biggest bank heist in history (and why you've never heard of it) The Economist 869,159 views Jul 28, 2023 In 2022 news broke that $2.5bn had been stolen in Iraq, the biggest bank heist ever. Nicolas Pelham, The Economist's Middle East correspondent, follows the money

The mouthpiece at another site claimed this week that major American banks are modifying many of their larger branches to accommodate an expected influx of American Dinar holders when the flag finally goes up. This got me thinking about how many people do actually hold Dinar currently. A bit of research dug up this article ( https://www.reuters.com/article/us-forex-investments-dinar-idUSBRE8AE1SV20121116 ) which quotes a younger Ron Scarpa and a major currency trader who suggested that at the time of writing there were 800,000 Americans who had bought Dinars from him alone. Ron had just retired from flying biplanes for Delta and had a full head of hair ( joking Ron 🙂) but I see his enthusiasm for the this currency remains undiminished even today. I live in the Great South Land where it is currently winter, our raging bush fire season is till months away, but I do wonder how many more seasons will elapse before we can go to our own banks? Began purchasing my Dinars in 2008 but never foresaw that 15 years later I would still be drumming my fingers on the desk, however the author of the article was certainly prescient when he suggested that this would be a long term project. When do the rest of you think we may be able to cash in?

Wonderful news, it is already 31/3 in my country and predictably Iraq has skated through March with no revaluation. Oh well, the great news is that now we can look forward to all the 'important' dates in April. World champions at kick the can down the road and excuse making. Of course with their absurd parliamentary system, riddled with factions and self interest, it is just about impossible to get legislation passed. Why is it that the endlessly officially tweaked budget is still just sitting there gathering dust and the HCL that has been apparently favorably agreed between leaders in Baghdad and Erbil but the parliament just can't seem to get it on the agenda. My whole dinar experience has been like traveling in a tunnel while sitting in the driver's cab of the locomotive, the tunnel exit a glimmer of light in the distance which beckons enticingly but just never seems to get any closer.

yota, I have often thought about Iraq's abundant natural gas resources and how relatively simple it would be to process the gas and use it to fire gas turbine generators. The German company Siemens is the latest manufacturer to offer their services to set Iraq up to do this. So what is the problem? It is very obviously Iran. Should Iraq gain energy independence, then Iran both loses a significant source on ongoing income and their grip on Iraqi politics is weakened. In my view, they will fight this occurring to the bitter end. The pity being that Iraq's people are living in primitive conditions for the most part and being held as unwilling pawns in Washington's seeming endless tussle with Tehran.

coorslite, I wouldn't expect too much from Iraqi politicians etc., as the country is effectively controlled by Iran and why would they allow a Dinar revaluation which robs them of cheap US dollars?

Iran is a major problem but only one of a number that beset Iraq. Corruption is everywhere ( I have this on good authority from Iraqi owners of a currency trading firm in my country.) The major pastime of some politicians, public servants and military personnel in Iraq is the age old game of kicking the can down the road. Countless drop dead dates from pundits like Frank26 and others have continuously come and gone. And of course they are yet again training bank staff and the public to recognize lower denomination notes and coins. The people of Iraq are the most heavily educated citizens on monetary matters on planet Earth while having nothing meaningful to show for it.

Dear fellow dinar holders, This is a link to the recent resignation letter of Ali Allawi, the former Finance Minister. His comments are self explanatory and confirm the opinion of my Dinar broker in Australia who just this week told me that his family connections in Iraq believe the country is in a ruinous state and not likely to get better soon. After reading the article, what are your thoughts? Ali Allawi's Stinging Resignation Letter - The Atlantic

The author of this video is a geopolitical scholar and he paints a sobering picture of the current day issues and circumstances that confront Iraq's politicians and people. His approach is even handed and also covers the actions of Iraqi officials who are working to overcome the constraints currently faced. I am a Dinar holder and in my opinion the video's contents DO NOT spell doom for any potential increase in the value of the currency. It is simply posted for your interest and therefore I hope moderators will leave it in place

Chef, I was a paid member of this site many years ago but realised after some considerable time had elapsed, that there was no significant economic reason to continue my membership. My comment is not a negative comment on 'Adam' but simply a realistic assessment that I made at the time. Since then, I have not paid any further monies to any internet identity commenting on the dinar because in my experience they have proven to know little more that I can garner from my own research. What however, has caused me significant angst are the rent seekers like Space Cowboy who year in and out, proclaim to have 'special inside knowledge' from others such as walkingstick, people in Iraq and lately, a fellow named Neil who is also known as 'Eddie' and therefore Frank endlessly proclaims that dates and events within a month (generally, month upon month), are significant markers that serve to highlight an imminent improvement in the value of the Iraqi dinar against the American dollar. Not surprisingly, this never occurs. I have mostly given up visiting the site of and/or listening to any internet dinar commentators as we will all know in short order, when the dinar is actually worth an exchange value of interest to us. However, I will end on this positive note, Iraq's currency is hopelessly undervalued and at some point, it will be worth 30 or more US cents in the dollar. Thereafter, it is reasonable to assume that a free floating dinar will add to this opening value.

NW, I am a fierce critic of that lying toad Frank but taking what he has recently claimed at face value, I have been scanning Iraqi media sites for the avalanche of educational material that Frank and talkingprick insist is currently being shown. It will not surprise you to know that so far, I haven't glimpsed a thing. Frank seems to spend his days in SMS communication with an Iraqi called 'Eddy' and the two backward and forwards for hours discussing these non existent advertisements. Why would Iraqi bank officials or indeed anyone else in authority in Iraq run such long campaigns to simply educate the citizens on the shape and colour of a few lower category notes and some coins? The short answer is they are not, Iraqi citizens are not stupid and would quickly self learn the value of new notes and coins if ever a currency appreciation occurs. I just sincerely hope that one day the merry-go-round will stop and like the rest of you, I can just get on with what remains of my life but in the interim another Dinar year slides by. Happy Thanksgiving to you all.

NWGUY, You are completely correct, Frank's fanciful stories hook many of us in. I simply tune in to his tiresome YouTube rants because somewhere in the morass of lies there is occasionally a kernel of truth. However, I have searched high and low on-line to verify his televised education claims but so far, without success. The other annoying statement that he and some of his orks berate us with is that we are not supposed to seek a 'date or a rate'. For God's sake, anyone who has held this currency for more than a few years would have to be brain dead not to want this information, cash out and then for this grueling ride to end.