Smokeyblizzard

11 - 23 - 2014 "The decision of zeros and a broad debate between supporters and opponents .. We wish debate broader in universities and the House of Representatives and the rest of the institutions ... but an explanation of image, sound and cartoons to prepare the public for this process. However, Valenqashat healthy phenomenon for mature opinion. Especially with the availability of all the information, such as the money supply and the number of securities and cash exchange rates and others. When the basic information for any file is available, the debate becomes positive, and not just rumors and controversies in newspaper headlines and news bar. Objections to cancel the zeros process addressed the likelihood of fraud. She cited the changing currency (15/10 / 2003- 15/1/2004), which were marred by a stampede -okasr Madh- No doubt, some of the fraud, despite the fact that this process has allowed them to achieve many things .. 1. currency unification of major currencies instead of at the time, a Swiss dinar and Saddam dinar and the dollar .. except many other traded in certain areas Kaltoman Iranian and Turkish Lira and the Jordanian dinar. 2. The single currency has allowed the organization of a successful monetary policy of the Central Bank in difficult circumstances .. lifted Iraq reserves from scratch to reach 58 billion US dollars a day .. and controlling inflation exceeded three figures before 2003 .. and reached 75% per year four years ago to reach today .. to 5.2% per annum .. and maintain currency stability and strength .. which was born tranquility markets and transactions .. The basic goals of cash does not diminish that some of the gaps and mistakes. 3. It must be recognized that the central bank restored some of the people's money for the people .. as calculated value of 1500 dinars = dollars when changing currency and its value today .. 1180 dinars to the dollar .. any regained every citizen the equivalent of 21.3% of its cash holdings. Unlike previous policies that ate monetary assets to reach the 3,000 dinar / dollar and more. The objections about the difficulties of the replacement process .. Vsttrah the new currency, and the two currencies will coexist for a year or two. And is withdrawn with zeros gradually whenever reach of banks, you will not get to defend .. but may allow the process to disclose fraud traded currency today .. The objections costs, the printing papers with less (1000) times the securities traded would be more feasible necessarily, knowing that copyright is an ongoing process annually for the withdrawal of the damaged leaves or to increase the money supply. Zeros from the currency's value will not change, and will help to ease currency trading and fragmentation, storage and calculated .. This is a good qualities of the coin, which, of course, the most important of stability and confidence in them. " http://goo.gl/6zA44k

There talking about taking the zeros off of the currency according to this article. http://goo.gl/v6Ysn6

http://goo.gl/mHHYnH 5 - 10 - 2014 HUNTSVILLE, Ala. (WHNT) – Across the country and in the Tennessee Valley, people are buying Iraqi dinar. They’ve been told it will one day rise sharply in value against the U.S. dollar, leading to a financial windfall for them. Albertville resident Tim Jones is one of those who bought in, along with his pastor and several church members. Years later, the payoff still hasn’t come. A WHNT News 19 investigation also uncovered warnings from state regulators, the Better Business Bureau and financial experts calling dinar investment a scam. Despite the warnings, many people remain invested. They continue to hold the physical currency – often purchased through private dealers at a markup – and point to specific claims as justification for buying in. So are those claims, used to promote dinar as a good investment, fact or fiction? WHNT News 19 took action to find out. Here’s what our investigation found: Claim #1: There will be a “revaluation” or “RV” of Iraqi dinar, raising its value against the U.S. dollar and leading to a payoff for the investor Currency expert John Jagerson, of LearningMarkets.com, tells WHNT News 19 a “revaluation” of Iraqi dinar “could not happen” and “is not planned to happen.” Jagerson, who spent years researching the subject and authored an e-book called The Iraqi Dinar Scam: Why Buying the Dinar is for Dummies, adds that many of the “facts” dinar investors believe are actually false. Jagerson thinks many dinar promoters are “perpetrating falsehoods” to increase the attractiveness of dinar; perhaps profiting off connections to dinar dealers, or exclusive website memberships and online advertising. State regulators agree, warning dinar promoters will “misrepresent history” to try to prove profits are possible. As Jagerson explains, it’s not in Iraq’s interest to allow the dinar’s value to rise – even through a small appreciation - since it would make it harder for the country to pay off debts, more expensive for foreign companies to do business and limit Iraq’s post-war growth. “Why would Iraq want to do to their currency what no other country wants to do?” Jagerson emphasized. “It would be like standing on your economic brakes with both feet. No one does it because it makes no sense.” He points out that dinar speculators also often confuse the economic terms revaluation and redenomination. In a redenomination, often done when inflation has reached untenable levels in a country, old bills of larger denominations are swapped for new bills of smaller denominations. An old 25,000 dinar note could, for example, be exchanged for a new 25 dinar note. Under this “dropping the zeros” scenario, the purchasing power (or value) of the new note is the same as the old note. Nobody makes any money. As Reuters reports, Iraq is on record as saying it eventually intends “to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised.” WHNT News 19 could find no credible reports of a stated intent to “revalue.” The U.S. State Department was also quite clear on the possibility of a “revaluation” in Iraq when contacted for comment. The State Department is sometimes blamed for holding up Iraq’s “RV” along with various international bodies. Spokesperson Noel Clay however, gave WHNT News 19 the following statement: “We are unaware of any plans by the Iraqi government to revalue the Iraqi Dinar. Iraq is a sovereign nation and the U.S. government plays no role in determining Iraq’s foreign exchange policies.” Claim #2: There was a “revaluation” in Kuwait that shows something similar is possible in Iraq Banking and financial experts confirm to WHNT News 19 that while market forces did cause Kuwait’s currency to fluctuate in value during and after the 1990 Iraqi invasion, there was never a revaluation like many describe. “Historically, a revaluation where your currency suddenly becomes worth many times what it used to be in the foreign exchange, that’s never happened. Ever,” Jagerson said firmly. When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as currency. Kuwaiti dinar was essentially relegated to black market status. As explained on the Kuwaiti government’s own website, banking stopped inside the country and invading Iraqis stole huge amounts of Kuwaiti dinar and riches. After liberation, Kuwait’s dinar was restored as that country’s official currency and new banknotes were issued to keep all the stolen monies from being used. During this issuing, the pre-invasion rate was simply reestablished. Iraq’s history and circumstances are also very different from Kuwait. A top executive at one of the nation’s largest banks spoke on background to WHNT News 19. The executive explained that while it’s possible some people may have profited from holding Kuwaiti dinar during a market-led appreciation post-liberation, expecting anything similar in Iraq is totally unrealistic. A March 2014 Wells Fargo “International Strategy” memo explains further. It describes, in detail, why both 1960s West Germany and Kuwait are “poor precedent for Iraq.” The memo also warns of elevated risks of illiquidity and fraud for dinar buyers. Claim #3: President George W. Bush’s Executive Order 13303 gives Americans special legal rights to hold or invest in Iraqi dinar As you can see here, 13303 specifically protects the Development Fund for Iraq, as well as Iraqi oil products and interests – including ownership by U.S. persons - from any legal attachments or liens. It does not mention dinar, or investment in dinar, at all. In this 2012 federal indictment against “BH Group” for fraud in the marketing and selling of Iraqi dinars, a grand jury also charges: “Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of or investment in, Iraqi dinar is false.” See page 5, charge 14. Claim #4: The U.S. Treasury holds a large position in Iraqi dinars The same federal indictment against “BH Group” states that, in fact, the “U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use.” Claim #5: I bought my dinar at a bank and it’s a real currency, so it’s clearly not a scam Different U.S. banks appear to have purchased and sold dinar at various times in recent years. At time of broadcast, WHNT News 19 could find no banks currently exchanging the currency, although they may exist. Those with knowledge of the banking industry tell WHNT News 19 banks are under no “official” restriction when it comes to buying or selling Iraqi dinar and that some may have stopped due to concerns over dinar speculation. Jay Lawrence, Southeast Communications Manager for Wells Fargo, provided the following statement to WHNT News 19, explaining why the bank does not deal in dinar: “Wells Fargo does not offer any consumer exchange for Iraqi dinar. Wells Fargo provides a wide range of foreign currency banknote services, generally for travel-related purposes to meet the needs of our customers traveling abroad. We do not, however, expect a high number of customers traveling to Iraq for business or leisure purposes in the near future. As a result, we do not trade Iraqi dinar and we have no plans to change this policy in the future. We are aware that some websites or blogs promote the purchase of Iraqi dinar as an investment strategy. We disagree with the view that holding Iraqi dinar banknotes is a sound investment strategy.” The statement directly contradicts claims from dinar promoters that “1-800″ numbers are, or will be set up at Wells Fargo, to exchange dinar for customers. Jagerson, along with state regulators, emphasize that it’s not Iraqi dinar itself that’s the problem. “It’s the investment in the currency as a way to make profits that’s the scam,” Jagerson said. Claim #6: There’s a “Global Currency Reset” that banks, governments and global players like the World Bank or IMF are secretly coordinating and/or holding up “That’s probably one of the biggest fantasies in the scam – that there is some kind of government conspiracy behind it,” Jagerson said. A high-level executive at one of the nation’s largest banks also laughed off the idea of a currency reset. The executive told WHNT News 19 private banks do not play a role in sovereign countries’ exchange rate management. The creation of any new global economic framework would also almost certainly have coverage in the respected financial media. The International Monetary Fund’s mission chief for Iraq, Carlo Sdralevich, was even more blunt, sending WHNT News 19 the following statement: “No such a thing as a ‘Global Currency Reset’ exists. The IMF has no role in managing the Iraqi dinar or Iraq’s exchange rate system. We work with the Iraqi government and central bank to provide policy advice and technical assistance as part of our ongoing dialogue with them. Decisions on the exchange rate are taken by the country authorities in full independence and sovereignty. There is no external constraint imposed preventing the Iraqi dinar’s revaluation or devaluation. The stability of the dinar is the result of Iraq’s own monetary and exchange rate policies.” Representatives from both the World Bank and U.S. State Department said the same, when asked by WHNT News 19 to clarify what operational powers they have in Iraq. The State Department also addressed this document specifically, which some dinar supporters argue shows an official goal of a 1:1 exchange ratio of Iraqi dinar to U.S. dollars. State Department spokesperson Noel Clay said of the document, “I am not familiar with it and cannot vouch for its validity. Regardless, it is from June 2005 and Iraq has undergone significant change since then. I would suggest that the document would hold little relevance to Iraq today.” Claim #7: Iraqi dinar is still a good buy, even without a “revaluation” Even without an “RV” or “Global Currency Reset,” some investors believe Iraq’s oil reserves and development potential make dinar a good purchase. Some investors argue the market could drive a strong appreciation in the future. In 2009, CNBC financial host Jim Cramer appeared to give dinar investment a green light, commenting on the nation’s potential for growth post-war, especially with regard to oil companies. “I’m always in favor of owning the currency as a play,” Cramer said. Click here to watch the clip. Currencies don’t behave like stocks though and as Jagerson points out, a rising GDP doesn’t guarantee gains. In fact, history shows that for countries like Iraq, “Having a growing economy and growing oil exports does not equal a growing currency. Generally, it’s exactly the opposite,” Jagerson explained. Jagerson started researching Iraqi dinar after a close friend invested, then turned to him for expert insight. Jagerson said he spotted the red flags immediately and wants to use his currency acumen to keep others from falling victim. He’s produced several online videos to explain, in simple terms, why the arguments in favor of dinar investment don’t add up. Click here to watch them. After reading the findings above, some dinar investors may be feeling misled. Concerned individuals can contact the Alabama Securities Commission, which recently issued a statewide “Investor Alert” addressing dinar.

Expert calls for the deletion of zeros from the current currency instead of printing new currency cash date 4-13-14 http://goo.gl/xiXfZs The head of the Economic Studies at the University of Kufa, an economist Raad Twigg, the central bank to take comprehensive measures to replace the currency and delete the three zeroes and determine the exchange rate of new Iraqi currency, instead of putting up a new currency confuse the deal in the local market. Twigg said, that "put the Iraqi Central Bank to cash currency with new specifications without pulling equivalent represents an expansion in the money supply in the local market, and thus reflect negatively in the creation of large inflationary effects." He confirmed that the addition of new cash currency with the old currency would be a duplication of currency exchange market has created an unbalanced cash and Aald blurry in daily trading of the currency. " He continued, "The deletion of zeros from the currency will reduce the current rate of inflation and reduce the large cash trading currencies in the domestic market also reduces the incidence of theft and forgery of currency cash." The Central Bank of Iraq announced, for re-printing banknotes with pictures of the Iraqi new. The bank said in a press statement, said that the re-print the new series of banknotes currently in circulation and the Iraqi pictures of new protected more, using a good quality of printing paper, with the addition of some signs of security. " He pointed out that the current banknotes will continue to be traded with the new will not be pulling rolling them currently or in the future.

Swiss dinar - http://www.personal.kent.edu/~cupton/Senior%20Seminar/Papers/ElyLecture.pdf For ten years, therefore, Iraq had two currencies: one issued by the official government and the other backed by no government at all. The Swiss dinar continued to circulate in the North, even though backed by no formal government, central bank, nor any law of legal tender. For a fiat currency this was an unusual situation. Whatever gave the Swiss dinar its value was not the promise of the official Iraqi government, or indeed any other government. Although there was little or no trade between North and South Iraq, both the Swiss and Saddam dinars were traded against the dollar. The implied Swiss to Saddam dinar cross-exchange rate from 1997 onwards is shown in Chart 3 After 1993 the Swiss dinar deviated from parity and rose to around 300 Saddam dinars to the Swiss dinar by the time Saddam’s regime was deposed in 2003. The appreciation of the Swiss dinar is clearly a consequence of the evolution of the actual and expected money supplies in the two territories. Given the monetary and fiscal policies pursued by the Saddam regime, the rise of the Swiss dinar against the Saddam dinar is, perhaps, understandable. But what is less obvious is the path of the Swiss dinar against the US dollar. Chart 4 shows the Swiss dinar-dollar exchange rate from 1997 onwards. After fluctuating in the early 1990s, the Swiss dinar rose sharply against the US dollar from the middle of 2002 as the prospect of an end to the Saddam regime increased. It rose from around 18 to the dollar in May 2002 to about 6 to the dollar by the beginning of May 2003 when the war ended. That appreciation reflected expectations about (i) the durability of the political and military separation of Kurdish from Saddam-controlled Iraq and (ii) the likelihood that a new institution would be established governing monetary policy in Iraq as a whole that would retrospectively back the value of the Swiss dinar. The political complexion of Northern Iraq led to the assumption that the currency used there would have value once regime change had occurred. In other words, the value of the Swiss dinar had everything to do with politics and nothing to do with the economic policies of the government issuing the Swiss dinar because no such government existed. As someone might have said, “it’s the political economy, stupid!” Another illustration of this is shown in Chart 5 which plots the Swiss dinar/dollar exchange rate against the values of futures contracts showing how expectations about the political order in Iraq were evolving. One futures contract paid out 100 cents if Saddam was deposed by the end of June 2003 and nothing otherwise. As the chance of Saddam's regime being deposed (and the price of the future) rose, the Swiss dinar appreciated against the dollar. Later there was also a future that paid 100 cents if Saddam was captured by the end of December 2003, and nothing otherwise. As the chance of this happening (and the price of the future) fell last autumn, the Swiss dinar fell against the dollar. It has just risen again. Again, expectations about the future political order in Iraq, which have repercussions for the likely monetary regime in northern Iraq, influence the value of the Swiss dinar today. Much of this was understood by Kurds in the North where the exchange rate of the Swiss dinar to the dollar was a matter of both concern and interest. The minutes of a meeting of the Kurdish Regional Government on 14 October 2002 state: “KRG Prime Minister Nechirvan Barzani chaired a meeting to discuss the ongoing problem of the weak US dollar in the local currency markets. Discussion focussed on the … unprecedented 45% decrease in the value of the US dollar against the Iraqi Swiss dinar, possible causes of the problem, and effects on the market”. Realising that the effect of a change in the exchange rate cannot be understood without an analysis of the causes of the change, the minutes continue, in a manner that would do justice to the minutes of any G7 central bank, “It was pointed out that the US dollar is currently stable in foreign markets so there must be other explanations for the sharp slide in value in Iraqi Kurdistan”.14 In other words, an explanation was needed for a rise in the real value of the Swiss dinar. Of course, as we now know, the expectation that a future institution guaranteeing the integrity of the Kurdish area, and of the value of their currency, turned out to be correct. Coalition forces assumed control of the whole territory, and on 7 July 2003 the head of the Coalition Provisional Authority, Paul Bremer, announced that a new Iraqi dinar would be printed and exchanged for the two existing currencies at a rate that implied that one Swiss dinar was worth 150 Saddam dinars. The exchange was to take place over the period 15 October to 15 January. It is now virtually complete. The new dinars, like the Swiss, were printed by De la Rue in a very short space of time using plants in Britain and several other countries, and were flown into Iraq on 22 flights using Boeing 747 and other aeroplanes. The fact that the populations of both North and South Iraq have been prepared to exchange their old notes for new dinars reflects the confidence which they have in the future of the institutions backing the new Iraqi dinar. The 150 parity is barely half the rate the Swiss dinar reached at its peak But it is above the average rate that prevailed over the past six years, and above the rate that would equalise the purchasing power of the two currencies. For example, around the time when the new conversion rate was being determined, it was estimated that 128 Saddam dinars to the Swiss would equalise the wages of an engineer in the two parts of Iraq, 100 would equate the price of the shoes he wore to work, and 133 the price of his suit.15 From Chart 6, it is clear that the exchange rate hovered above 150 after the parity was announced on 7 July. There are two reasons for this. First, the 10,000 Saddam dinar note was heavily counterfeited, easy to do given the primitive local technology used to print them. The exchange rate of this note against the dollar is consistently less than the 250 dinar note which, as a smaller denomination note, was less heavily counterfeited. The Swiss notes, printed using more sophisticated technology, are virtually free of counterfeits. The Swiss notes traded at above the parity because of the risk that holders of the 10,000 note would find that they had a forgery and could not exchange it at the central bank. Second, before the capture of Saddam Hussein there was inevitably some uncertainty about the prospects of the new regime and the new currency that it issued. The circulation of Swiss dinars in Kurdish controlled Iraq during the 1990s was a market solution to the problem of devising a medium of exchange in the absence of a government with the power to issue currency. Changes in the relative price of Swiss and Saddam dinars show that the value of money depends on beliefs about the probability of survival of the institutions that define the state itself.

what's the next investment on your mind after you dump the dinar at the end of the month ?

to get the newbies to buy more dinars

Really ?

try to sell on ebay or forums or send them to an online dealer to get money back

bump

okie

i hope this is good news

nice post

interesting

2016