wallstreet1977

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Where was it stated that Iraq is required to RV the Dinar before it can join the WTO?? I am not doubting you, but a link would be great. Thanks.

Does anyone know when the last time the Dinar was a tradable currency on the foreign exchange?

Not that I believe this, but what if Mr. Maliki's house payment went from $50,000 to $5,000 to reflect the increased purchasing power of the new Dinar. Just playing Devil's advocate.

I had an e-mail conversation with Ali from Dinar Trade yesterday regarding what you are saying. Here is his reply: Dinar Trade procedures for cashing in dinars once the RV occurs When you are ready to cash in your dinars with Dinar Trade: Call 1-877-770-7660 or 661-472-8510 to make an appointment. Let us know which office you would like to go to in order to make the trade. At the time of the appointment inform us of the number of people in your group and the total amount of dinars you will be cashing in. You will need the following: 2 ID’s (one with a picture and one with your name on it for example credit card or utility bill) Fincen 104 form ( http://www.fincen.gov/forms/files/fin104_ctr.pdf ) if you don’t have one we have it at our offices . Bank incoming wire instructions ( ABA Routing number and Account number) We will wire the funds form our bank account here in the U.S to your bank while you wait at the time of exchange. Dinar Trade will charge $150 per million dinars as a service fee for cashing the dinars. As for the exchange rate it will depend on the rate in Iraq at that time. We will let you know the rate on the phone but it will not be confirmed until you show up at our office at the time of exchange. We will Only lock in the rate for customer who have purchased dinars form our company at the time when you make the appointment. We encourage everyone to check all the banks who will be exchanging dinars and their rates before calling us (we are pretty sure we will beat their rates). At this time we have 3 offices open : Brentwood, Tennessee Bakersfield, California Santa Monica California Once the RV occurs we will have the following locations open within 7 days. As we open the other locations we will post the addresses on our website www.dinartrade.com contact us page. Locations to be open: Manhattan, NY Spring hill, FL FT Smith, AR Waxahachie, TX Albuquerque, NM Grand Forks ND Las Vegas NV Toledo OH We will not disclose the address until the above locations are open. If you would like to exchange before a location is open near you will have to come to our office in TN or CA. We will be able to make appointments for all locations as soon as the RV occurs. We estimate that you will not have to wait more than 3 days when you make the appointment. We will accommodate on a first come first serve basis. The above dose not constitute that we know when the RV is going to happen. We are informing every one of the procedures for when it occurs. Dinar Trade is still selling dinars. If you would like to purchase kindly go to our website www.dinartrade.com Hope this eases your mind.

Can anyone twell me why when I visit http://www.xe.com/uc....x=40&image.y=7 it says in red that IQD will be redominated by the end of the year?

All wording in that e-mail is from the rep. Take it for what it is worth. I bolded that particular line because that was the line most concerning to me and I wanted to be sure it stood out so people could see it and comment on its merit (afterall, I was asking for responses to refute it). Please don't over analyze it. I was trying to provide meaningfull information as to get meaningfull responses.

Here is the entire e-mail for those of you who question my intentions: Thank you for your enquiry. The information has been available from a number of sources, but specifically from this Reuters article, available via our Forex News service at: http://www.xe.com/news/2010/02/11/951385.htm To summarize: IQD Redenomination The Central Bank of Iraq announced plans to redenominate the Iraqi Dinar by removing three zeros from the nominal value of bank notes. That means that they will be issuing new bank notes. If you have any bank notes that are currently in circulation, they will not gain actual value, but instead, 1,000 current IQD will then be worth only 1 of the new IQD notes if all goes as planned. The Central Bank plans to phase out the current IQD notes by allowing people in Iraq to exchange them for new re-denominated IQD notes; eventually, the existing notes will not be legal tender. 1000 IQD (current) = 1 IQD (post-denomination) Why the change? This plan is intended to ease cash transactions in Iraq, since most everything is paid in cash over there. Can you imagine having to pay thousands for a loaf of bread? The purpose of this change is to make life a little easier for residents of Iraq who have to carry large wads of cash wherever they go. What about people who don't live in Iraq? This will put a lot of people living outside of Iraq in a bit of a bind. Those who have invested in IQD notes will find it difficult to convert their current IQD notes for new ones, since there are no Iraqi banks outside of Iraq. As you can imagine, not too many people will want to buy notes that are being phased out. In regards to the USD, the Central Bank of Iraq has a mandate to ensure domestic price stability, which means that the actual value of the IQD will most likely remain stable. In other words, 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth about the same amount in US Dollars. Thank you for your interest in our company and services. Sincerely, XE Currency Services Team XE.com Inc. · 1145 Nicholson Rd · Suite 200 · Newmarket · Ontario · L3Y 9C3 · Canada www.xe.com · +1 416 214-5606 · Fax +1 416 214-5607 http://www.xe.com/cu...iqd-iraqi-dinar

http://www.xe.com/currency/iqd-iraqi-dinar The link is real, no manufactured data. I am not here to deceive anyone.

I appreciate the comments of the better informed members. I hope you all are right. Thanks. Would you please provide a more up to speed assessment of the situation? Thanks.

I just had an e-mail exchange with a rep at xe.com He is the bad news... IQD Redenomination The Central Bank of Iraq announced plans to redenominate the Iraqi Dinar by removing three zeros from the nominal value of bank notes. That means that they will be issuing new bank notes. If you have any bank notes that are currently in circulation, they will not gain actual value, but instead, 1,000 current IQD will then be worth only 1 of the new IQD notes if all goes as planned. The Central Bank plans to phase out the current IQD notes by allowing people in Iraq to exchange them for new re-denominated IQD notes; eventually, the existing notes will not be legal tender. 1000 IQD (current) = 1 IQD (post-denomination) Why the change? This plan is intended to ease cash transactions in Iraq, since most everything is paid in cash over there. Can you imagine having to pay thousands for a loaf of bread? The purpose of this change is to make life a little easier for residents of Iraq who have to carry large wads of cash wherever they go. What about people who don't live in Iraq? This will put a lot of people living outside of Iraq in a bit of a bind. Those who have invested in IQD notes will find it difficult to convert their current IQD notes for new ones, since there are no Iraqi banks outside of Iraq. As you can imagine, not too many people will want to buy notes that are being phased out. In regards to the USD, the Central Bank of Iraq has a mandate to ensure domestic price stability, which means that the actual value of the IQD will most likely remain stable. In other words, 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) would both be worth about the same amount in US Dollars. If you can provide a conflicting, perhaps more positive point of view, it would be appreciated.