MrFnHappy

Of course, I could be wrong, but I believe you are reading this the wrong way. How I'm reading it is that the market, or street rate has worsened to the point that in order to obtain $100 US on the street, the cost is up to 10,000 dinar more than the official exchange rate.

While I am unable to indentify the species this dung comes from, it is most definitely dung...

Correct Frog, those who have a low fixed rate mortgage have no worries. Many years ago I was a mortgage broker and dabbled in investment properties. Low rate ARMs were my friend, but only because I knew they would be paid inside of 12 months on properties I intended to sell ASAP. ARMs are typically bad news for those who can only afford a primary home because of the ARM rate. MANY current foreclosures are due to ARMs going up and making the mortgagee unable to make the higher payments.

While it may be fascinating, I also find it quite sad...

Say what???

The SDR is valued based on a basket of currencies (the major portion of the basket is USD). 1 SDR is currently approx $1.50 US

1950 - 1990 In 1956 the National Bank of Iraq became the Central Bank of Iraq. Its responsibilities included the issuing and the management of currency, control over foreign exchange transactions, and the regulation and supervision of the banking system. It kept accounts for the government, and it handled government loans. Over the years, legislation has considerably enlarged the Central Bank's authority. In 1959 the peg was switched from the British pound to the United States dollar at the rate of 1 dinar = 2.8 dollars. http://cbi.iq/index.php?pid=History The peg has not changed since 1959

Tru Dat, my brother

If you want to make money in Iraq, this is one of the places you can....stock in Iraqi telecommunications...although the article points out that several companies have not met certain stock requirements, I'm sure pressure will be brought to bear on those in non-compliance.

Jordanian banks come to mind immediately. Further, it doesn't matter if the dinar revalues to those who embezzled. Just doing the rough math, on average, they walked away with $25 MILLION USD each.

Hi, I can"t access my profile...says I don't have permission and I don't have access...Help!!

SWEET!!!

So do the math here $15 trillion in proven oil reserves used as 15 percent of total currency reserves = $100 trillion dollars of backing the IQD ...maybe I'm missing something here, but the math isn't making sense to me. Disclaimer; I have been drinking <hiccup>

I just paid $3.89/gl....

Good news, bad news if accurate. Good news, no redenomination or lop any time soon. Bad news, no huge increase in value any time soon. But wait...maybe good (?) news....the article mentions Shabibi, so I think its old.

This sounds FANTASTIC!!! I hope the article is accurate. It would truly be a Godsend. Thanks for the post easy.

Bear in mind I've had a "few" cocktails tonight, but I read through this and don't see where a "free float" is suggested. If I missed it, I would appreciate it if someone would point it out to me. What I did read as far as the currency goes is towards the end of the OP, and appears to be part of a summation of what the CBI's goals are (their words, not mine).

I concur

I concur with your opinion. Yes, sometimes you must leave your gun in your vehicle, and I have done so many times, ie; going into the post office. But, I IMMEDIATELY re-holster my weapon upon returning to my car. Leaving it overnight in your vehicle is irresponsible and exactly the kind of thing that gives ant-gun people fuel for their argument. A prime responsibility of any gun owner, whether it be pistol or rifle is to safeguard your weapons...leaving it in your car overnight is a definite no-no.

PRICELESS...thnx for the post.

You are absolutely correct keep...I find it amazing that anyone is still debating the CBI's intentions, and as you rightly state, the only debate is whether or not the CBI will go through with the redenomination. Unfortunately, I believe the the chances of us seeing a straight up revaluation are slim. You don't need to be an economist to realize that Iraq cannot revalue the dinar with well over 70 Trillion dinar in circulation as stated by by the Key Financial Indicators published by the CBI (unless, of course, you believe the CBI is "cooking the books"). Add to that the plentiful amount of articles quoting Shabibi and the CBI comparing what they intend to do to countries like Turkey, and other articles stating that 25,000 dinars will become 25 dinars, and it should become more common sense than economics. Bottom line, the chances of a re-denomination far outweigh the chances of a straight revaluation. Let me save some of you some time. I know there are those that will ask, "do you own any dinar?" and "why are you still here". And then there are those that will "suggest" that I should "sell my dinars", etc, etc... I have said this before. Yes, I still own some dinar, and why I'm still here is simple. I could be wrong, but more importantly (at least to me) is that it's a free ride for me. I bought all of my dinar between 2004 and late 2005 and have since sold off the majority of my holdings at a profit...not nearly the profit I had hoped for, but non-the-less, a profit. The few million I hold are free on top of the profit I've already made, so whether it rv's or rd's, and whether or not there will be a means to exchange, doesn't matter to me. Needless to say, I wish they would rv, but I just don't see it as being realistic any longer. I'm sure I'll get some "negs" for this post, and I really don't care...but here's a pet peeve of mine, if you're going to "neg" me, at least have the intestinal fortitude to back it up with a post stating why you think I'm wrong. Thanks doc, I wanted to say something similar, but you beat me to it.

What gets to me the most is the audacity this **** Feinstein displays by having her own concealed weapon permit. She obviously believes her life is worth more than any of us mere citizens

Correct.

Another vacation coming up this Christmas for the Obama’s will cost American taxpayers over $4 million dollars. So how much is it costing us to support the first family? The number is much worse than you could possibly imagine. “Every year (taxpayers in England) have to spend $57.8 million for the first family of Great Britain to make sure that everything’s maintained and everything is taken care of and their security and everything else, $57.8 million. And the people in England are upset about it,” Glenn explained this morning. “How much did we pay our royal family? How much did it take to maintain our royal family, the Obamas, just last year? Now, this is really interesting, especially as we come up for another vacation for the Obamas. This one is going to cost us $4 million. This vacation in Hawaii for Christmas is going to cost you $4 million. How much did we spend last year? Remember, the royal family cost $57.8 million. Would you be stunned if I told you it was $50 million? Would you be ‑‑ would you be bowled over if it was $100 million? How much do we spend? The total last year, a little higher than $57.8 million.” So what was it? $60 million? No. $100 million? Nope. $250 million? Not even close. The answer: $1.4 billion Read more; http://www.glennbeck.com/2012/12/05/how-much-do-the-obama%E2%80%99s-cost-taxpayers/