Please HELP decipher emails from our congressman !!!!!

[Kimberlye]

A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value of the currency remains the same. On June 21, 2011, the Central Bank of Iraq (CBI) announced that it would be implementing a redenomination of the Iraqi dinar. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar

Read more:

It seems to me that this is just a definition of redenomination. Iraq has been saying they are going to redenoninate and so, it seems to me, this e-mail is just explaining that process, and basing that on public information from Iraq. Most of this information we already knew. We know that Iraq has the sole responsibility for its currency. We already know that we, as U.S. citizens, can own the dinar. Also, if the U.S. did own dinar, I do not believe that anyone in the know is ever going to let that information out. I understand that it is supposed to be transparent, but there are ways around that if there's enough money involved. IMO, no one is going to spill the beans, that is, if there are beans to be spilled. IMO, this could be the information that is supposed to be disseminated if the question is asked.

Iraq has publicly said they are going to redenominate. I'm banking that they find a way to not do it and revalue instead. [pun intended.]

It's Iraq's move and I'm holding my cards to see what they do.

Just my thoughts. Happy Wednesday all,

Kimberlye

[estewart]

It's what I bin sayin' all along. Simply, the RD is purely cosmetic. There's no other purpose for it. It's to get rid of all traces of the existing considerably frightfully hugely gigantic inflation which occurred.

AFTER the RD "inflation" will be gone! Not even "history." There'll be no trace of it. It'll have disappeared as if by pure magic! ZAP! Just pop a lop and amazing things occur.

AND the new Dinar will be very close to the USD in declared, and world-wide understood, official value. RIGHT WHERE most other currencies are for only showing .17 difference. Less than two pennies.

(Now, never you mind that the Kuwait Dinar is way off the charts. It's an anomaly and we need to forget about it. It's not revelant. Not a part of the really really really big picture show.)

AND, so, to put it in a nutshell, once the Dinar and USD are comparable, a match, basically of the same value, end of story. A closed book.

[FrankenSLI]

We can pour over this document, auctions, bank stories, and the thousand RD/lop articles out there til we are blue in the face but it will change nothing. I feel that if the CBI is actually going to RV no-one period will know until after the fact. That type of info could cause mass hystaria and a total in country spending freeze. I say we kick back, wait, spend time with the fam, and hope for the best....

Oh yea and.... GO RV!!!!!

[Dalite]

The last few days we have seen some of the best articles to date with this investment..that it just might actually come to a end soon, and the ending will be what we all hoped for when we decided to get into this investment...now this thread appears and I am not hanging my head again...just when I thought things were actually starting to look up.. sorry DV friends not trying to be a downer, just been down lately

DRV,

You know what my position has been on this.

However, Maliki is apparently giving Shabibi some grief on this, and there may be yet another branch in the path.

Not trying to pump, but I am not sure if this story is over just yet.

Hang In There. We are all in this together!

[estewart]

A redenomination of the Iraqi currency would not le.....

It seems to me that this is just a definition of redenomination. Iraq has been saying they are going to redenoninate and so, it seems to me, this e-mail is just explaining that process, and basing that on public information from Iraq. Most of this information we already knew. We know that Iraq has the sole responsibility for its currency. We already know that we, as U.S. citizens, can own the dinar. Also, if the U.S. did own dinar, I do not believe that anyone in the know is ever going to let that information out. I understand that it is supposed to be transparent, but there are ways around that if there's enough money involved. IMO, no one is going to spill the beans, that is, if there are beans to be spilled. IMO, this could be the information that is supposed to be disseminated if the question is asked.

Iraq has publicly said they are going to redenominate. I'm banking that they find a way to not do it and revalue instead. [pun intended.]

It's Iraq's move and I'm holding my cards to see what they do.

Just my thoughts. Happy Wednesday all,

Kimberlye

RIGHT! It's called the UNITED STATES Corporation.

[vastdream]

I don't quite understand what all the confusion is about. This is simply repeating the same talking points the Iraqi leaders have been saying over and over in order to get the Iraqi populace to understand that they will not lose value once the RD is engaged. The RV is a completely different issue and they have cleverly avoided any discussion or statements about a formal RV.

If all that is done is a RD, then we see no real benefit, nor do the Iraqis or anyone that has invested in their country. The decimal point would simply move over 3 places and of course the exchange becomes $1.17 to the Dollar.

This in no way means that a totally separate RV action won't or can't occur. But, unless they can get the people to accept, focus and adjust to the lack of zeros/new currency and become functional with it, an RV done simultaneously could cause many unintended consequences... some good, some bad.

I highly doubt that any politician would step out in front of the Iraqi's and tell everyone what they have planned before they themselves announce and engage it. Too much liability and attention is already surrounding this volatile issue. This response from Bonner's office is only a reflection of the Iraqi media and he's attempting to respond in an accurate and clear/safe way.

Personally, I don't see that this is anything new at all. Simply another way of saying the propaganda that Iraq is pushing to educate and prepare their citizens. It's neutral in and of itself, that is the point. They are stressing conservatively, that the RV isn't part of the RD function, nor is it needed for that purpose.

The RV is required specifically to boost the value of the new/underlying currency which must first be introduced. You can't redecorate your new home until you take possession of it, until it's conveyed to you. In this case, they cannot revalue a currency that isn't effectively introduced into circulation broadly.

Well, they could, but it would be more difficult to control and manage because people would suddenly be carrying around some very valuable currency and be subject to theft, fraud and harm. Most of the exchange needs to be done electronically at the bank level, but the Iraqi's are reticent to use the small denoms even though they are available at the banks.

I think it might help to step back from this minutia and realize how many big investors are holding Dinar. We're in pretty good company, and greed and power being what they are, I think they have engineered in a big payday and bailout for themselves... entire countries are most probably counting on the RV for a major bailout.

The value needs to be somewhere around Kuwait's Dinar IMO. Without an RV and value change, Iraq will not grow anywhere close to what they are projecting and hoping for. If the value isn't changed by an RD, which it isn't, then thy must RV to accomplish that most important step. The RD is a precurser. Hopefully we will see very soon. All of this is IMO of course.

[JJ56]

Otis forwarded the letter and the conversation. If you want it email me and I will forward it to you. It may take a little while as I will be off and on all day.

jjohns_13@hotmail.com

JJ

Edited August 3, 2011 by JJ56

[ed8149jack]

Click on the link, then look at the properties of the pdf. Dated 7-29-11 10:13 AM. File title is Talking Points for Le Bouder. Who or what is LeBouder?

Mr. Le Bouder the Executive Director, Work Bank, 1818 H Street NW, Washington, DC

[GMartin]

A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value of the currency remains the same. On June 21, 2011, the Central Bank of Iraq (CBI) announced that it would be implementing a redenomination of the Iraqi dinar. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar

Read more:

It seems to me that this is just a definition of redenomination. Iraq has been saying they are going to redenoninate and so, it seems to me, this e-mail is just explaining that process, and basing that on public information from Iraq. Most of this information we already knew. We know that Iraq has the sole responsibility for its currency. We already know that we, as U.S. citizens, can own the dinar. Also, if the U.S. did own dinar, I do not believe that anyone in the know is ever going to let that information out. I understand that it is supposed to be transparent, but there are ways around that if there's enough money involved. IMO, no one is going to spill the beans, that is, if there are beans to be spilled. IMO, this could be the information that is supposed to be disseminated if the question is asked.

Iraq has publicly said they are going to redenominate. I'm banking that they find a way to not do it and revalue instead. [pun intended.]

It's Iraq's move and I'm holding my cards to see what they do.

Just my thoughts. Happy Wednesday all,

Kimberlye

Kimberlye B, Thank you for this. People can give me all the negs you want, the point is everyone needs to relax and watch this happen. It's amazing what small words change a scenario. Even in law if there is a contract "1" word can change the outcome entirely. So calm down everyone or sell your dinars already.

[PartyTime]

This was all on just a blank paper. No letter heads, no authors name behind it. It cannot be taken seriously. Doesn't mean the information may be correct, but it may be incorrect as well, which would explain why there is no letter head or author's name to this. They can deny having anything to do with this. They ALWAYS put everything on standard letter head when coming from any government agency. So whoever actually wrote all this obviously does not want to accept having anything to do with having written it. Otherwise it would have been written in a letter head or at the very least a name would have been included to show who wrote this. And this could also mean whoever did write this merely got their information from the news articles and this is based on their own personal interpretation of what those news articles said.

Until this thing finally happens we won't know for sure.

[mrmcwhipit]

I think the word equivelent is being misused here? I think they are just comparing the new rate to the old rate, But maybe I am wrong?

[2fast4u2c]

This appears to be the RD then RV, I have been saying and concerned about.

If they RD then RV with a IQD value of 1.17 you would still make a gross profit of .17....I think.

Sorry its been a long day. Let me get a shower and come back to this.

[DRV1804]

DRV,

You know what my position has been on this.

However, Maliki is apparently giving Shabibi some grief on this, and there may be yet another branch in the path.

Not trying to pump, but I am not sure if this story is over just yet.

Hang In There. We are all in this together!

Thanks Dalite, appreciate it...im tryin my best!!

[GMartin]

Mr. Le Bouder the Executive Director, Work Bank, 1818 H Street NW, Washington, DC

Yep, and if you are an IT dork like myself this is pretty easy to do...

grab some software such as http://www.pdfpropertieschanger.com/

change it up, you have yourself a following.

[tripthelight]

Otis,

Here is the math:

1170 Dinar per Dollar is the current exchange rate. The other side of that is 1 DInar equals $.00086

A 3 Zero RD would divide everything by 1000 to get

1.17 Dinar per Dollar exchange rate, with the other side being 1 Diner equals $.86

A $.14 (14 Cent) RV, concurrent with the RD would give the 1:1 Dinar to Dollar ratio the CBI claims that they are pursuing to make the dinar the sole currency, and get the dollar off the street.

But, If the CBI can let the exchange rate of 1170 float up to 1000 (170 Dinar per Dollar stronger), the RD would make it 1:1, and any RV to follow could be market driven; not a 14 cent catch up.

I hope this makes sense. It is the best that I have been able to come up with to try to make the numbers make more sense.

This makes total sense and it's not all that bad. If so, we're still looking at a possible exchange float up to 1:1 with the USD. I'll wait for that.

Stéphane Le Bouder, Congressional Staffer - Salary Data

http://www.legistorm...uder/81628.html

Stéphane Le Bouder. Staff Director. US Congress, Subcommittee on International Monetary. Policy and Trade.

BTW, this is a guy...

Yes, here's another link showing the same gentleman as Deputy Assistant Secretary, United States Department of the Treasury:

Leadership Directory Website Link

[Rhorse]

It is 1000% real from Jo Bonners office. I am sitting here at my computer in ole country ass Mobile Alabama and my father sent that email to our congressmans office and got that response with the pdf attached. That pdf that I posted is the EXACT pdf that I downloaded off of my email. I will be glad to forward anyone the actual emails and you can trace it or IP route lookup the entire thing if you wish. This is a real document and my take on it is not negative.....in fact I believe it is a good thing. I think everyone has come to a rational conclusion that they arent going to just RV with some crazy rate. My take is this document means they will redenominate the money and it will stay the same value.....ok we dont lose, we dont gain BUT THEN the RV will come in a small rate and go up from there and the people that keep some in for the long haul will end up making the big bucks over time and others will cash out at whatever it is.

Now I just need to know if that is a correct logical explanation ????

Not that I don't believe you, Otis, but someone else from that part of the country should email Jo Bonner's office and ask for the info, too.

The document seems to refer to an RD, but its conspicious lack of authorship and its lack of letterhead use in correspondence being sent to a constituent (especially since the gov't has to know about the currency speculation) leads me to believe that this info is a lil SMOKE. (perhaps it was given to Bonner; not that HE's generating it. Sounds like he truly was trying to serve you, Otis.)

And RD could eventually mean a profit, but I also think any aforementioned rate stated before an actual RD rate (or RV rate) is implemented, is BUNK. ...If Iraq is a sovereign nation, why would they allow the United States to pre-publish a rate for inclusion in a random PDF? ...I don't buy it.

So, we're back to: NO ONE KNOWS WHAT'S GONNA HAPPEN. IMHO.

[jbbdolphins]

The time to "panic" is when Iraq informs the "world" of their decision concerning the dinar, as they are the ones in the "drivers seat". You wouldn't contact the "treasury dept." (if there is such a thing) of another country to ask about the USA's future of their dollar. You can speculate and try to "guess" as to the dinar outcome, but the bottom line is Iraq is in charge. We might all be surprised at the outcome.

[Deltori]

Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.

According to this document I beleive it basically says it will be a wash. The words 'new' and 'current' are the key. Just my interpretation.

Thats exactly what I notice is the difference that people are not keying in to. It states very specifically that the new (super) dinar will have the 1.17 to the USD but the current Dinars will have the same value it currently holds.

It reminds me of when Mexico did the super peso which had a higher value but I don;t know what they did with the regular peso at that time. It certainly seems as though the two different currencies coexisted for a short time until the old pesos were gone and all that was left was the super peso or what is considered to be the standard peso now.

UGH I don't like seeing things like this..

[Kimberlye]

Thats exactly what I notice is the difference that people are not keying in to. It states very specifically that the new (super) dinar will have the 1.17 to the USD but the current Dinars will have the same value it currently holds.

It reminds me of when Mexico did the super peso which had a higher value but I don;t know what they did with the regular peso at that time. It certainly seems as though the two different currencies coexisted for a short time until the old pesos were gone and all that was left was the super peso or what is considered to be the standard peso now.

UGH I don't like seeing things like this..

Well, if that scenario happens, then what about those that have their dinar in Warka? Which rate would we get? I want the Super Duper dinar.

Edited August 3, 2011 by Kimberlye

[ddyal]

If this is a legit memo to Stéphane Le Bouder. Staff Director. US Congress, Subcommittee on International Monetary. Policy and Trade.

I would equate a memo titled "Talking Points" to what Mr. Le Bouder is officially allowed to say. JMO

[HappyVegas]

Adam....Sonny....Bueller....Bueller?

[DogDoc94]

READ THIS CLOSELY AGAIN WITH NEW EMPHASIS ADDED...

A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value of the currency remains the same. On June 21, 2011, the Central Bank of Iraq (CBI) announced that it would be implementing a redenomination of the Iraqi dinar. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.

AS I READ THIS, IT MEANS THAT IRAQ WILL ISSUE A 1 DINAR NOTE THAT IS EQUAL TO 1000 DINARS... SO THEN, THE NEW 1 DINAR NOTE WILL EQUAL THE OLD 1000 DINAR NOTE... BUT THAT HAS NO EFFECT ON THE CURRENT CURRENCY'S VALUE...WE WOULD NEED TO HOLD 1000 OF THE NEW NOTES TO EQUAL 1000 USD....

SO THIS IS HOW IT GOES...

1 NEW IQD NOTE = 1000 OLD IQD NOTES

1000 OLD NOTES = APPROX 1 USD

HENCE, NO CHANGE... BECAUSE WE HOLD OLD NOTES

THIS = WE ARE SCREWED IF THIS HAPPENS...

I think you stated it correctly. Seems pretty straight forward to me. The reply just goes along with what we have been hearing in news post of dropping 3 zeros with a RD.........value stays the same until the they RV later or currency just increases in value as their economy grows. Puts it back into a more normal type investment looking for small percentage gains and takes away the chance to hit the home run ball at a 1000 percent gain we have been hoping for many years. Not what I want but the message seems to be always the same. Last hope is that it is all smoke and mirrors but becoming harder for me to see truth in the arguments against. HOWEVER, that being said................I AM HOLDING ON TO THE BITTER END.............GO RV.............LOL.

[dacraigo]

Okay okay so I know I am a newbie and all, and I am not looking to get bashed for writing this but here is my take, and it is just that my take:

"Treasury is not aware of any U.S. financial institution engaged in the exchange of Iraqi dinars though there are some online money services businesses (MSBs) that advertise this service. Treasury requires certain MSBs to register with the Financial Crimes Enforcement Network (FinCEN), but does not recommend or endorse any such business."

Doesn't this statement just prove this document is pure bunk? How many of us use our bank to buy and sell IQD? Wouldn't this be a U.S. Finanancial Institution backed by the U.S. Treasury and registered with the IMF?

Like I said, just my take but as soon as I read that part of the doc it made me pretty relieved.

Lol, I guess I am officially a member now, not just a newbie woohoo

[truthful1]

Is that clear enough for you!!! The CBI has been screaming rd for almost a year, and people say it cant happen People should not believe guru intel, thats only provided to keep there paychecks coming. Isnt quite simple. Why people lean on, rely on, or use the guru intel for a quick "high" is ridiculous. Dinaraholics are worse than alcoholics.

Remember the first step is denial.

[TeeMoney]

So say this document did come from the government.... Are the government and US Treasury considered the same thing or are they two separate entities? I believe the treasury hold dinar, but not the government itself... Also, another thing to think about..... What then happens to the electronic dinar being held? Is that considered new or old... Or do they just flip a coin and decide, then pass a law on the electronic funds..... The way I see it, they have will do something straight across.... IMO... But how they do that and in what fashion is what I think we are all waiting to see...