merry1

Currency redenomination also can be a means by which governments attempt to reassert monetary sovereignty. If citizens lose confidence in the national currency, they may begin to use foreign currencies, particularly those with greater prestige. This may be both a psychological and an economic blow to the government: with widespread foreign currency substitution (or, more extremely, full dollarization), the central bank no longer controls the money supply, rendering it unable to provide lender of last resort functions (Cohen 2004). Economic policy is influenced not only by international capital markets (e.g. Mosley 2003), but also by foreign central banks. Currency redenomination, then, is a means by which governments can attempt to reverse this currency substituting behavior: if citizens are confident that the new Turkish lira or Iraq Dinar will hold its value, they may be willing to shift from using euros and dollars to using lira. While the act of dividing a currencys value by a factor of ten is somewhat symbolic, it also can help to convince citizens of a currencys worth. As a result, redenominations often occur after economic crises, as governments attempt to convince citizens and markets that hyperinflation is a thing of the past. The time between hyperinflation and redenomination, then, may stretch to over a decade. Were redenomination a purely technocratic exercise, this pattern would be surprising: redenomination seems to have few real costs, beyond the short-run expense of printing new notes and advertising the change to citizens and financial markets.

Now that was worth the read! ROTFLMAO!

OH geez, so now we're back to censorship? Everyone has the right to his or her opinion. Last time I checked it was still America. Beside that I don't think Scooter has such a thin skin that he would get upset over someone who didn't agree.

No where will you find the term LOP as it relates to currency exchange anywhere accept with regards to the dinar. The term was started by the guru's. It is always a redenomination. Hopefultxn and keepmwlknfny are correct. It is the same thing. I think you guys are arguing symantecs and can't for the life of me figure our why you don't understand this.

I think we'll see Okie on the show Last Comic Standing in the fall.

I bought from Dinar Inc. Their home office is about 3 miles from me. I found them to be honest, to a point where the owner told me not to expect an rv for 3 to 5 years. That was two years ago. I don't know about the lay away plan they started that just recently. But I would say they are trustworthy. That said, I would never ever buy on lay away. If I can't afford it now, I wouldn't buy. If you do, make sure you understand the whole concept before you plunk your money down. JMO Good luck!

I agree that we all bought into the hype when we first bought dinar. What you are not seeing is that everyday hundreds are still buying into the hype. There are pumpers. These people pump for a variety of reasons. Some are getting paid, can I prove it? No, but my good sense tells me so or hundreds still wouldn't be buying. One friend believes the hype and tells another friend and so on. Some of the pumpers have an agenda for another reason, be it off shore accounts, or MLM's, or Trusts and there is plenty of that going around. It's to late for us, we've already spent the money and have nothing else to do except cash in or wait it out. If you believe that there sitll is a possibility of revalue then wait it out. The one thing you can do is stop telling friends and neighbors that they will miss out on the chance of a lifetime if they don't buy dinar right now. This is what the guru's hope you will do. The more people you bring in the more likely they will sell their product, whatever it is. Anyway I believe there is still a chance that a revalue will happen. I'll be happy with a 10% profit. Incedently, I've told none of my friends or family about the wonderful opportunity they will miss if they don't buy dinar!

Adam, Surely you don't mean to say that breaking the law is a cost of doing business?...Clearly he wasn't licensed and clearly he was doing business anyway. To say that paying a fine for breaking the law is the cost of doing business says just as much about your character as Ali's. That's why I'm so surprised by your response! Makes me go hmmmmmmmmmm. Being a business woman I'm all for making a dollar but doing it legally is the only way a person can stay in business. I don't think this is the reason that Ali shut down but I do think this could have brought on a much larger investigation. Time will tell!

This came from an Email I received: DINAR TRADE statment. As some of you may already be aware, Dinar Trade Inc has gone through some major changes. Two months ago, we were notified by the FBI that our family was in extreme danger, the details of which I am not going to disclose for privacy reasons. Once the ordeal was resolved, we came to an extremely difficult decision. After seven years in the currency business our company, Dinar Trade, has decided to take a temporary leave from the market. This decision was not made lightly. However, after enduring the stress and hardship of this type of ordeal, we were left with no choice: the safety of my family must come first, because no amount of success or money can replace family. We are grateful to the customers that have supported our company for the last seven years and assure them that we will fulfill every order in our system until (date). At that time we will no longer ship any orders. We will open our exchange offices at the time of a significant change in the value of the currency. The exchange procedures on our website will remain in effect at that time. Our phone operators will continue to take your calls to ensure any order pending in our system is processed. There are other companies continuing to buy and sell Iraqi Dinars. Kindly do your independent research to find the company that best suits you and your needs as we cannot recommend or endorse any particular company. We have been greatly blessed by all of our customers in their heartfelt prayers, messages, and words of kindness. Please accept our deepest apologies in our decision. We hope for your continued support into the future.

The Turkish Lira has been redenominated many times in the past, with the last time being 2009. This by the way was a straight redenomination.

Guys, This is not a fake. It was Ali and for once please believe the obvious. He's a dealer, he makes or one of his staff makes serveral trips per month to get the dinar, he has contacts better than anyone of the Guru's. I've listened to every chat or Conference Call he's made in the last 3 years and never has he said it was going to rv at a specific rate or date. In fact, he is always non commital and usually says at the beginning of the chat that he will not discuss rates or dates. Usually he only wants to discuss cash in or the news articles. Why would he say this now? Well I believe he and his cohorts are under investigation. He's made millions off the sale of dinar and will make millions more because you guys refuse to believe what is so obviouse. He's is telling the truth for once. Iraq has a long way to go before the country ever gets back to the way it was before the war. Will it go up in value, maybe, if they can keep going the they are, if the government stays intact, if they rebuild the infrastructure, if they put the people back to work, if, if , if. It is my opinion and take it for what its' worth, I've been dealing in currency for over 20 years, that they will probably redenominate at some point in the future. They will go on the Forex and the rate they start out with will be locked in for some time, it will rise gradually over time. There is a reason why he doesn't discuss rates or dates, he is a MSB, Money Service Business, and is not allowed to give investment advice or risk losing his license and beinging indicted for fraud. Imo that is why he has changed his site, distanced himself from the forums, I.e. removed his company from being exclusive of Neno's place, and is now coming out with information that can be directly related to him saying that it is not going to rv like the guru's say it is. He will be on record with that one. For him to come out now after 7 years and finally give such an opinion tells me he is covering his butt. I owned MSB's for a very long time and when I came onto the forums I was shocked that dealers could get away with being associated with these forums. I waited patiently for something to happen and now I believe it is happening. I know this isn't want anyone wants to hear, but right now you haven't really lost a lot of money and the possiblility of gains is still there over the long haul. I wish everyone the best but please don't hope to become a millionair through the Iraqi Dinar, because that isn't going to happen.

Currency redenomination also can be a means by which governments attempt to reassert monetary sovereignty. If citizens lose confidence in the national currency, they may begin to use foreign currencies, particularly those with greater prestige. This may be both a psychological and an economic blow to the government: with widespread foreign currency substitution (or, more extremely, full dollarization), the central bank no longer controls the money supply, rendering it unable to provide lender of last resort functions (Cohen 2004). Economic policy is influenced not only by international capital markets (e.g. Mosley 2003), but also by foreign central banks. Currency redenomination, then, is a means by which governments can attempt to reverse this currency substituting behavior: if citizens are confident that the new Turkish lira will hold its value, they may be willing to shift from using euros and dollars to using lira. While the act of dividing a currencys value by a factor of ten is somewhat symbolic, it also can help to convince citizens of a currencys worth. As a result, redenominations often occur after economic crises, as governments attempt to convince citizens and markets that hyperinflation is a thing of the past. In some cases, the timing is correct, in that redenomination caps off high levels of inflation. In other cases, governments are not able to reign in inflation immediately after redenomination, and they may make multiple efforts at currency reform. Argentina and Brazil during the 1980s and early 1990s exemplify this pattern. Yet not every country with high levels of inflation, or with a low local currency/dollar exchange rate (so that thousands of local currency units are required for everyday transactions), chooses to redenominate its currency. Some governments are content for citizens to spend two thousand lira or manta for a cup of coffee, even if this leads citizens to question the legitimacy of the local currency. In other cases, governments do choose to redenominate, but only after a sustained period during which inflation has been reigned in; the time between hyperinflation and redenomination, then, may stretch to over a decade. Were redenomination a purely technocratic exercise, this pattern would be surprising: redenomination seems to have few real costs, beyond the short-run expense of printing new notes and advertising the change to citizens and financial markets. This is exactly where we are with Iraq. Period of Hyperinflation is over, dependence on the U.S. is no longer an issue. The cost of redenominating relatively small. This is a small excerpt of a paper written by Layna Mosely of the Dept. of Political Science at the University of North Carolina mosley@unc.edu www.unc.edu/~lmosley/

What this is saying is that they have over 26 trillion dinar in circulation at this time, actually I think it's more like 30 trillion but wha'ts a few trillion among friends! So by redenominating, (lopping) they will reduce the amount of currency in circulation. This will be good for Iraq because it makes transactions easier and also brings more confidence to the dinar for investors. They are talking about redenomination of the notes as well as the rate. Your 1 mil dinar would become 1 thousand and the rate would revalue to the 1980's rate which was in the 3+ range. but before you get to excited about revaluing to 3+ your 1 million beccomes 1 thousand, multiply that by the 3.00 rate and you get 3 thousand dollars american. So instead of a 1000 times return on your investment you will reap a 10 times return on your investment and that is not bad! I'll take 10% roi any time!

what they are discussing and nothing has happened officially yet, is redenomination of the currency. This can happen in two ways. taking 3 zeros off the note and taking 3 zero's off the rate. So if they did this it would mean that your 25,000 note would become 25 and so forth down the line. Taking 3 zero's off the rate would mean that .00086 would become .86. They are saying, as per the article yesterday, of doing both at the same time and restoring the rate of the 1980's which would be in the $3.00 range. So lets say you have one million iqd. if they do an rd/rv it would mean that your 1 mil would become 1 thousand x it by the 3.00 rate and you would make $3,000.00 on your 1000.00 investment, less the spread and the fee of course.

You are absolutley correct, but very few will believe you. This has been going on for ages and ages and It was a reinstatement not an rv.

I think you are on the right track here. This is still the on going debate. Here is a scenario how it could happen: There are always two values to every currency. Bank to Bank rate and one for the general population. What I believe they are saying here is they are going to raise the zero's on the note and as well as the rate. rd/rv. It will work this way. They will introduce the smaller denominations gradually into the system. (Guru's have said this is already done, but no proof has ever been found this is true) The large denoms will gradually be taken out of circulation. When using both denominations the new lower bills will have the new rate, for example .00086 becomes .86 so 25 dinar note is worth $21.50 and a 25000, note would be figured at the old rate of .00086. 25000 x .00086 = 21.50. So an Iraqi would go to the store with one new 25 note and one old 25000 note and they would both have the same value. The Iraqi's are happy because they haven't lost any money by the deletion of the zero's. The CBI and the GOI are happy because the currency remains stable and is now considered by investors to be stable thereby encouraging investment. The currency goes on forex and overtime the CBI will let it rise slightly in value. They will lock the currency in at the rate they have rv'd, say .86 as many M.E. countries have done for years, and let the value raise only a pip or two. But remember, your 25000 note are still figured at the old rate. Doing it this way will gradually remove the large notes from circulation and not be a total shock to the Iraqi's. Prices won't rise rapidly causing a rise in inflation and Iraq won't pay trillions of dollars out to investors which they can't do anyway because the amount of dinars in circulation is estimated at over 30 trillion. Imagine how much money they would have to have in reserves, in hard currency as well as oil to cover even a 25 cent revalue! They don't have those kinds of reserves either in cash reserves or in oil. Jmo

I just want to say this. I bought dinar just like the rest of you. I do believe that to speculate on anything you must do your homework to make an informed decision. Otherwise it's a shot in the dark. I don't know about you but I work hard for my money and don't usually throw it away. I ran across this article quite by accident as I was doing more research to debunk some rumors we've gotten from the Guru's. I found this and thought it was extremely interesting though I thought I had better look into this writers credintials before making up my mind. I did and found he is very informed and educated in Forieng Currency as well as stocks. So I felt he knew what he was talking about. He has the stones to back up his articles, yes he may have left out some things but the bottom line is true imo. I will post the link so you can look at him for yourself and decide if he is worth believeing. http://www.fxstreet.com/search/contributors/authors/author.aspx?id=34b5a9cb-2319-4e06-a03f-47132b16bad9 Tell you what...... I'd believe Mr. Jagerson before I'd believe another word the Guru's say. They are batting 100% wrong, at least he has a couple of degrees, and background in Foreign Currency and a successful and well respected business. Am I going to sell my dinar? Probably not. I luckily didn't bet the farm and I too have a successful career so I'm not dependant on the money. My motive for posting this is; if this makes one person think twice about spending money they don't have or stop looking for a job because they believe the lies that are being spilled on this forum then I'm happy and it was worth it. I do have a background in Currency and I admit when I first came on the forums my expectations grew because of the lies I was hearing daily. I was naive, I'd never been to a chat site and had no idea that people would lie for the sake of some hidden agenda. It didn't take me long to go back to my original plan. If I were to make 10% on my money I would consider it a successful venture. That's where I am now. No regrets and better informed.

Sorry here's the link for the first article http://www.moneyshow.com/trading/article/26/currency-22033/The-Scam-That-Wont-Die

Why Won't the Iraqi Dinar Scam Die? Ratings: 45 Votes, 7.00 / 10 Starry-eyed investors take to the Web, but the scammers have beaten them there—and neither is eager to give up the dream of getting rich off the Iraqi dinar. John Jagerson is on a lonely quest to debunk the Iraqi dinar scam, but it's not easy these days. The investment analyst first posted comprehensive stories on his site in 2009— which have since replayed at MoneyShow.com and elsewhere—that clearly explain why the Iraqi currency is not likely to dramatically increase in value once the country stabilizes. In fact, he points out, recent history suggests the dinar could lose value against the dollar. Look at Venezuela, Turkey, and Mexico, whose currencies weakened when the economy strengthened, or the Kuwaiti dinar, which did not strengthen in the early ‘90’s as sellers now suggest, and later even plummeted. Jagerson is a bona fide expert, and he’s done his homework. His argument seems incontrovertible, if only for the reason that any opportunity that promises a high return at low risk should be suspect anyway. Which is why the reaction he gets from readers is so mystifying. Even at savvy investing sites, the tone of the feedback largely amounts to one of indignation: Angry comments and flaming e-mails from people who have already bought dinars, or who have read enough on the Internet to know that they want to. “I still can’t explain why I get so many negative e-mails from investors,” Jagerson says. “I think it’s that people don’t like having their dream challenged.” Jagerson is hardly alone in his frustration. Financial experts and consumer watchdogs say the job of debunking financial myths has become astoundingly difficult in the Web 2.0 era, where search is king, algorithm trumps fact, and a vocal minority can tweet, blog, and comment to millions from the Internet rooftop. The result: By the time an investor finally does stumble upon a credible source, his dreams have had an awfully long time to marinate in a bad idea. “We’re having to disabuse them of these notions,” says Richard Jaramillo, an examiner with the Utah Division of Securities, who’s been fighting the Iraqi dinar myth for years. “It’s much tougher for them to understand the risks if you can’t even get them to believe what you’re saying.” Good Info Is Hard to Find Ryan Thorpe is not naive. The 26-year-old Iraqi war veteran is studying to become a mechanical engineer and works as a quality-control specialist in the Houston oil industry. When a fellow soldier gave him $300 in Iraqi dinar several years ago, he remained skeptical. He didn’t believe, as some of his colleagues did, that his little stack of paper could suddenly be worth tens or even hundreds of thousands of dollars after some magic Iraqi currency revaluation. Back home and curious, he decided to do his own “objective” research, and that’s when things got confusing. Thorpe, like many people, doesn’t have a personal financial advisor. But he’s young, smart, and comfortable online. Here’s what he found: •A simple search of “iraqi” and “dinar” returns dozens of different “informational” sites on buying and selling the dinar. However, three-quarters of the top results—those on the first four pages—are actually links to private companies that sell the dinar. •The sites provide links to news stories that back the prognosis: The Iraqi economy is destined for growth. It’s “The sleeper investment of the decade,” headlines BetOnIraq.com, “because liberty breeds prosperity.” •Self-described experts pass on “inside information” speculating on when the dinar will revalue. “They really stir up a buying frenzy,” says Thorpe. •Sites seem to offer consumer protection—with advice on how to avoid counterfeit bills, and information on various investment options. They point out that they are certified with the US Treasury Department and are a member of the Better Business Bureau. •The sites presume only high profits. One of the high rankers, dinartrade.com, displays payout options on an $833 investment today of between $10,000 and $1 million. “Picture Iraq as a company selling stock. Each dinar you purchase represents a share in Iraq ’s bright future,” the site reads. “Iraq 's economy can only improve. The dinar will appreciate in value as the oil-driven economy booms.” •Aside from a recent brief in USA Today and Jagerson’s article, none of the first 40 page links even raises the notion that the dinar investment may rest on a flawed premise. “I can’t see what’s not persuasive about it,” says Thorpe, who decided to start searching for dinar-investment stories within news sites instead, but came up dry. “Finding real news and credible sources is almost impossible,” he says. “So first-time investors go out there and they see all this and think, ‘Well, of course it’s going to happen.’” Page 2 of 2) Thorpe finally decided to e-mail Jagerson, the investment advisor, directly. “Your instincts are correct,” Jagerson replied. “The dinar scam is still a scam.” It took some convincing, Jagerson says, but after explaining in detail how governments typically re-monetize their currency to protect their own interests, Thorpe agreed. The bills he had could be souvenirs, and he’d concentrate on his other interests. “They just don’t have anyone to turn to to give them the facts,” Jagerson says. “So much contrary content is being produced by scammers.” The Net: One Giant Sales Pitch Whether it’s pitches for gold coins, penny stocks, or foreign currency, one myth pervades: That today’s Internet is a level playing field. It’s not, say investment advisers. Marketing sites have become adept at search-engine optimization and are free to break the rules. That means they can shove their way into those first four pages of results. If Google or Bing catches their antics, they can simply reboot under another name. “The dinar scams are much, much better at marketing than anybody,” says Jagerson, who’s worked with government agencies on unrelated investigations. “They’re definitely better than the government. The government doesn’t do Internet marketing.” Nor is the content regulated. Neither the U.S. Treasury nor the BBB need to endorse a product in order to issue those seals the sites display. And currency traders don’t fall under the purview of securities regulators. Even if they did, Internet sites can operate anonymously or relaunch under a different name. They’re pretty much impossible to shut down. “The reason why it’s a scam is because these dealers, these “advisers,” are not giving you the facts,” says Jagerson. “In fact, they’re lying to you about it.” Successful scams always play on people’s uncertainty, fear or greed. That’s why victims will always be plentiful. The lucky ones—like the dinar pitch—have another advantage: ignorance on the part of buyers. Really, how many people studied international currency markets in school? Talk to someone who has, and they’ll tell you that an emerging economy is more likely to remonetize—to set new price levels—than to let the value of its own currency skyrocket, an oversight that would only cost its own government. Iraq has to pay back its debts, rebuild its infrastructure, and maintain its exports—all of which will require a stable dinar. “When you think about company stocks, you naturally think a rising tide lifts all stocks,” says Jaramillo. “But with a currency that’s not necessarily true.” “It’s counterintuitive. So not only are we in a position where we are trying to combat misinformation, but we’re trying to combat something that may be counterintuitive.” The Iraqi dinar sites do an excellent job of supporting their hypothesis that the Iraqi economy is going to improve. But it’s a game of distraction, says Jagerson. Because even if the economy soars, “that doesn’t translate into inflating currency.” Keith Woodwell, director of the Utah Division of Securities, wants social media on his side. His dilemma: How do you reach people before they’ve bought into the storyline and reposted it over their own networks? Much of the work of scammers, after all, is being undertaken by a volunteer army of enthusiasts who replay messages on message boards and social networking sites. “Once you reach the point where you put your money where your mouth is and you’re going to invest in this, then you become a defender,” says Woodwell. “It’s human nature.” Woodwell’s office is one of a handful of state agencies exploring how to use the power of Web 2.0 to educate private investors. The division posts an annual top ten list of investment scams (the dinar scheme usually makes an appearance), has redesigned its Web page, and pitches tales of fraud to media outlets. “How many people want to sign up for a Twitter feed on how to avoid a securities fraud?” he says. “Our sales pitch is, How to protect yourself from fraud, and people think, ‘I’m smart. I know how to protect myself.’” “To be quite candid, I kind of feel like we’re losing that battle, but I’m not sure how to combat it,” he says. “It’s hard for me to compete with someone who has a very slick presentation and is offering to make you rich.” By Karen Aho for MoneyShow.com More from MoneyShow.com Here is another link that also talks about the Scam of Dinar http://www.sltrib.com/csp/cms/sites/...sp?id=50960272

Dinarded, I understand your frustration when you post and try to bring a level head with facts instead of fiction to the forums and chats. The truth is most don't want the truth, they come here to read the rumors and get high off the possibility that they will be millionairs off a few dollars speculation. Save your breath you had a better chance of convincing the Jim Jones sheeple not to drink the kool aid. You know even Adam Montana has said the possibility of making millions off this is very doubtful. The people here claim to trust and respect his opinion but very few actually want to believe him when he says there is a strong possibility of a lop or that they will not make millions off this speculation. I remember last year Adam said that we could possibly make only 10% on this, but does anyone remember or even care that he said that? Heck no, they would rather believe Okie, TK, E, Scooter, and yes I do put him in the bucket with the rest. Why? Because in his own way he too fosters the idea that it will rv anytime now or anyday now, though he is careful not to commit to an actual day or time, he is right in there with the rest as far as I'm concerned. Ali, who many say they also trust said in a Conference Call recently that if you expected to make millions off this speculation it is not going to happen. I was truly surprised that he admitted that when I read the transcript. Yet, no one even questioned him on that statement and I've never heard it even discussed in a chat. No, most people want that dream alive and will believe anything that keeps it that way.

I didn't say buying dinar was a scam, I said buying into what the guru's are saying is the scam.

You've been around these forums and chat sites a long time, I won't hold what you said against you, afterall it's your job! lol

Just keep drinking that kool aid fella's lol. One day you will wake up and realize that it is not going to happen the way you want it to. I wish it would, I would love to be wrong, but I don't think so. Did you know that if Iraq rv'd at even 1.00 they would have more physical currency in circulation than all the countries of the world combined! Hey look it up lol .

I am not a newbie or unfamiliar with Foreign Exchange, in fact it was my business for many years. That is a fact, so let me put this all in perspective for you. Buying Dinar with the hopes that you have the potential to make a profit in the future is not a scam. Dinar like any currency has the potential to go up or down in value depending on the market for the currency. The scam part comes in, and it is a scam, when the guru's state they know when and what rate it will happen. The scam part comes in when you believe them. They count on you getting excited about the possibility of your few dollars making you rich and so pump the possibility of the revaluation happening every weekend or Monday. First of this would never happen on a forex trading site. Why? Because factual data is given about the currency and country involved. GDP, Unemployment, Debt, etc. are all there for you to read and make an informed decision. Yes there are newsletters I recieve everyday that says this currency is bound to go up in value or to dump this other currency because they are going to default on their debt. Some I listen to and some I don't. but I'll tell you this. If I acted on the advice I get and it turns out not to be true ( and I'll know this rather rapidly) I would not ever trust the advice of that person again. The Guru's on the other hand have been wrong 100% of the time! 100%! Yet most people still get excited by the "intel" they report daily. You have told your friends, and family and they have bought dinar because YOU have believed what the guru's are telling YOU! I don't know about you but if I put my money in an investment that my investment advisor told me was a sure thing and that advisor was even wrong once, I'd think twice about believing anything they said in the future! I speculated that the dinar may revalue someday, but my optimum expectation was making 10% on my money. I stick around and watch this mess because it is my hope that some of these Guru's will eventually go to jail and I"d like to be around to see it. Take my advice and lower you expectations, stop reading the lies, put your dinar in a drawer and forget about making millions on them because you won't.

This makes it sound like he is stating they are sending physical currency during the auctions. That is not the case. According to Salih, the bulk of the currency auctions is in remittances, not hard cash. http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=auto&tl=en&u=http%3A%2F%2Fwww.aknews.com%2Far%2Faknews%2F2%2F220771%2F