Froto

The proper perspective is always helpful.

You forgot the part where you send them 40% more than the dinar is worth. I'll send you an email, if your still looking in February I'll be back then. I'll give you 1170/$ ----------------------------------------------- I got a -1 in the first minute from somebody who doesn't like the fact that dealers are ripping us off to be put out there. Hmmmm?

If it happened as you say, Iraq's International Reserves would only cover six/hundredths of one percent of their currency. They are required by law to back it 100%.

Warka is a bank in Iraq (the largest privately owned bank) which will sell you IQD at close to the 1170/1 exchange rate (not the 40% mark up your friends paid). They will also pay you 7% interest on your savings account (more on a CD). You have smart friends.

Read it again. 1.17 is the exchange rate, 1.17 dinar per dollar. That comes out to $0.86 USD per each IQD, which after a 1000:1 RD, is exactly the same value you now hold. See above. It is NOT $1.17 per dinar, it is 1.17 dinar per dollar (that comes out to $0.86 / IQD). If there is an RD, the TOTAL value does not change. The big problem is that nobody is going to give you 1 new dinar per 1000 old dinar. A lot of people paid a 40% premium to buy their dinar, and should expect to get hit with a like premium if they try to exchange them or cash out. Nope, that is false.

I could meet you in Flint, how much are you looking for?

Since the "actual rv" is pure speculation and/or hype and thus cannot be tied to any event, the answer to your question is: Just like every other thing the beloved gurus have told us the RV is tied to in the last seven years, nothing will come of it.

First to Bambino, for a little insight as to why a "lopster" might be posting here. I have posted the reasons why I don't think an RV is possible, and I hate to see people wasting their money. 'Nuff said. Donny, Your scenario of how you might make a profit off of an RD has the same flaw as how people think they will profit off of an RV. Wouldn't it make more sense for the CBI to just keep the profit for themselves instead of adjusting the rate so you profit? You are definitely on the right track by buying your dinar at a fair price and earning an excellent interest rate instead of paying some idiot a 40% markup and then putting it in a shoebox. You will most likely be one of the few who doesn't lose money on IQD. I meant to say "...why an RV is impossible."

I would guess that sonny1 will predict July 2012. He predicted July 2010 and July 2011. He seems to like July.

I just love these explanations of how we will get rich off of Iraq. As you pointed out above, no matter how long of a time frame you make it, Iraq has to eventually pony up the money (or oil, gold, whatever) for the dinar we redeem. A country's currency is its obligation. Wouldn't it make more sense for Iraq to not RV, and keep all of its international reserves and all of the profits from its natural resources to themselves and not share it with me?

I saw at the end of this drivel that you didn't write it, but your compulsion to reprint it here says a lot about you. Learn to look critically at what you read, i.e... You might want to learn what an occupying force is, the troops stationed in Iraq are not an occupying force. Who exactly are we "at war" with, and what would the consequences be if we stopped? Who is killing the Iraqis you mentioned? These questions arise from the first three sentences of her piece. The rest of it is just as dubious. But hey, thanks for posting, its interesting to see the results of the media's efforts.

This is what you are missing: 1. Right now, Iraq's currency is backed up 100% (by law) with its International Reserves. An RV to just 1 penny per dinar would result in the Reserves backing up less than 10% of its currency (obligation). RV to a dime/dinar, less than 1% reserve. $1/dinar, less than 1/10th of 1% reserve. Heck, if they adjusted the exchange rate to 1000:1 ($0.001/dinar), the reserves would drop below 90% instantly. 2. The dinar is worth what it is because of decades of extremely high inflation. Hopes, wishes, dreams and magic cannot erase that. An RD can happen, but doesn't have to, look at South Korea. There is no such rule that says a unit of currency has to be at a certain level to be internationally recognized. Fear not, people ARE making a fortune off of the IQD. Of course they are the ones selling dinar and services related to dinar. The only question left is who are they getting their money from?

International acceptance? Before you believe the gurus who told you it must be a certain rate for international acceptance, you might want to look at South Korea.

Except for the fact that Kuwait never revalued. What happened in Kuwait has no similarities whatsoever with the situation in Iraq.And nobody has ever produced any of the "articles" you mentioned.

Paying $1200 for $786 worth of dinar is a ripoff and a scam....