Topic for discussion......Dinar

[Heavyduty053]

          I would like to purpose a question about our holding of Dinar and would like others thoughts on this. This is not to say that I am losing interest in what this will bring at some point, it is merely to add discussion.

 

          I have been in this adventure since 05 and have listened to every one who spoke out trying to illustrate a time line, saying they had inside information, even those who said they were in the know with GOI, Parliament, Maliki, and others.

 

          I have watched as IRAQ has went thru change and struggled with trying to develope a govt system that was never even heard of several years ago much less practiced there. While the changes take time for this enormous event to change their way of life there are some things that I have questions about and maybe someone out there can explain them. Bare in mind that I am not selling my Dinar it is there until that day comes whatever and when ever that happens. I have not lost faith in some day it will happen because a oil rich nation will come on with the rest of the world....but here's my question.

 

          OK, there was only so much Dinar printed to begin with and as we know no other is in circulation, so how can they spend millions to buy Jets when their money has program value. These millions and billions of Dinar is going to cost them greatly when the increase does happen so how does this constitute common sense. Their countries infrastructure is still suffering and the people still poor. The only one that has reeped the benefits of this is the politicians like the US, but who trained them in the place......get your's first, hide it then make excuses. Each turn of events has been spoken of ....as this is it, Chapter 7 release, UN sanctions relieved, DFI funds released, Paris Debt forgiven, Security minister got to be seated, GOI got to be seated, IMF got to sign off, Shabbi got to say when, Turki got to say when, Laws got to be written, CBI testing, Budget got to be read three times then in Gazzett, Maliki is the holdup, US is the hold up, IMF is the hold up, glitches in system. China got to give its blessing, CBI got to train their people, citizens got to be educated, Global reset, currency baskets and the list goes on. I would like a huge discussion on this with your thoughts.....bring it on and tell me if what I have spoken of is right or wrong. And I will say it because I know a lot of people have become disheartened and spent more than they should to buy this.......IS THIS A PONSY SCHEME with only a few of the wealthy being on the receiving end or will we actually get to share in this someday. New PM is coming, GOI to be seated I can't wait to read the next excuse.

[ac63corvette]

sell oil for US dollars or petro dollars and buy with the same. Having said that. They will need IQD internationally traded at some point. Hopefully soon, but remember it is IRAQ. IMO

[SnowGlobe7]

This is great HD.....Let me get some work done and I will be back to weigh in on this.

 

Great thread already!!!

[rulesforrebels]

People love to talk oil and how its good for the Dinar but oil is done in Petro Dollars which is totally seperate and oil will never be done with Iraqi Dinar which in a sense makes Iraq's oil irrelevent to the discussion of a revalue. Sure if the oil industry gets moving it will help the overall economy which hopefully will increase the value of the currency but oil business will never be done in the local currency of Iraqi Dinar.

 

I noticed you make mention of "when" the revalue will happen. Its not a matter of when its a matter of if which is a big maybe, a revalue in terms of an overnight spike would be unpresedented, not to say impossible but would be a first and is probably more unlikely than likely.

 

Lastly, its not like they printed Dinar at the beginnign and stopped they have continnued printing which is actually a negative thing for our investment as like you said, by printing so muhc it makes it so that it never can climb to giant levels because that would mean due to the amount in circulation at a penny a piece maybe it makes sense but at a dollar a piece of even more it would mean iraq would have more money thhan all other countries put togther which just isn't possible.

 

I got into this about hte same time as you late 04 maybe early 05. I actually thought there was a lot more upsight and reason to buy back then. There was a finite amount of Dinar around. Iraq was starting with a clean slate. THe future was uncertain but at the same time that was kind of a good thing because the sky was the limit.

 

I think there's less reason to be optimistic now. Iraq has had almost ten years to get a government in place, stop bombings and violence, get industry moving, etc. They have made small steps but they are printing Dinar like crazy, there's still violence and bombings, alquada and terrorists are still there. I think had they gotten there act together there may have been a chance at a revalue earlier on or at least maybe we'd be seeing Dinar going for like 5k a mill vs 840 however that hasn't happened. I feel like whats happenned has been more negative than positive and I see less upside in te future, at least less upide in terms of a sharp increase. Maybe slowly over time they get their act together and get their country working and we see a gradual increase in the dinar and we make some money but i dont see anything huge happening nor is that really possible with the amount of dinar in circulation.

[Heavyduty053]

Good discussion so far

[jmw2]

With their current money supply of around 73 trillion IQD a revalue of 1 to 1 would make it worth more than all the money in the world COMBINED...which won't happen...all the reasons you listed for why it should or why it should was a great list of what the so called gurus have used over the years to get or keep people excited about it...but none of them have any thing to do with the value.

[dontlop]

The central govt has money besides what the cbi has in its money supply

The dollars the central govt has are not included in Iraqs money supply

The dollars the Iraq govt has are a part of the United States money suppy

All petro dollars are the United States money supply

Iraq has a lot more money than the cbi has in its reserves to back the dinar

The reserves exclusively back the dinar

The reserves from what I read a few months back were put into the bus so they could get a better return for them thru the bis investing them

The reserves are never necessary to use for anything besides backing the dinar

Since the dinar is a local currency the value can't change since no one is exchanging them except the cbi

The jets bought may of been purchased on credit also

Most likely not but could be financed somewhere so they just need to service their debt with payments to cover interest

The USA collects foriegn reserves thru selling the dollar for use to buy oil

Then the USA must sell the foriegn reserves to keep the exchange rates stableized

Its a big circle of money moving around

[dontlop]

Couldn't some of those petro dollars be in digital form therefore no real need to be in a bank they could simply be on a computer program

When money was gold people could steal it

These digital monetary systems are just numbers no gold or phisical currency is needed therefore no need for bank

[dontlop]

In the USA we have the United States treasury and the federal reserve

In Iraq they have the central bank and the ministry of finance

In the USA the federal reserve has its money and the treasury has there's

In Iraq the central bank has their money and the ministry of finance has there's

I don't look at the Iraqi cbi reserves as the total Iraqi assets ,,, it's a portion of them

[dontlop]

I am lost in facts

If I have a thousand digital dollars in my checking account

And the dollar revalued

Would only the phisical currency be revalued or will my deposited digital dollars be revalued too?

Deposits are part of the m2 money supply even though they are not phisical currency

So if my digital dollars get revalued too why wouldn't all the digital dinars be revalued along with the phisical dinar in circulation?

If that's true then Iraq having 87 trillion dinars in their m2 money supply will get a rv too

So how much can Iraq revalue 87 trillion dinar ?

To a dollar ?

Three dollars ?

Three dollar rv would mean Iraq has 268 trillion dollars worth of currency

When the entire worlds money supply is only 65 trillion dollars

Iraq would be 5 times richer than the entire world combined

Can you see those ignorant imbasols with trillions of dollars

They would be buying every weapon the world could produce

They would all have their own f16 fighter jet to Cruz around in

With lazor guided missles

I wonder if the day will come when everyone ends up in the lop tank

[mad asafrog]

Scary to think that there is only 65 trillion dollars in the worlds money supply when the forecast debt of the USA at the end of this year is 21 trillion dollars sort of mind boggling ,sorry to go slightly off topic

[DWitte]

How come the amount of actual Dinar in circulation vary so greatly?  Anywhere from 33 trillion to 87 trillion.  Is there any way to find the real number?  Or even get close?  I don't want to go to the lop tank.  I want the lobster on my plate so I can eat it.  Not the other way around.

 

DW

[sandfly]

THANKS

[BigJake]

I figured the average value of Mid East countries to the USD a while back. At that time it was 97 cents to the USD. Logic would say that the dinar would be valued at least that much if the amount in circulation was reduced. IMO that is one of the reasons for the auctions. When they do revalue/if, then the dinar with the 3 zero's would be taken out of circulation. Some of that is probably going on now. Kuwait is over $3.00 but Saudi Arabia is around 26 cents. The Saudis have one thing, oil. Iraq has oil, agriculture (when the fighting is not going on), sulphur, and gold among other things. If they can get through the ISIS problem and if they can ever stop bickering among themselves, then I think there is a chance for a revalue. I also think Adam is right in that it will come out low and over time work it's way up. He thinks around 10 cents. IMO that is close, as they can go to.086 cents then revalue to 10 cents. I would love to see $1.00 but do not think it will happen right away. I hope Iam wrong.

[dontlop]

Minerals And Mining

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The introduction of modern mining and extraction methods has once again made the mine a major producer of precious metals.

Exploration projects over the past two decades have unearthed extensive deposits of precious and industrial minerals throughout the country. These include not only gold and silver, but also copper, tin, tungsten, nickel, chrome, zinc, lead, phosphates, iron ore, bauxite, potassium ore and even table salt.