jopy

Keep, I obviously don't post much, but have seen you around and understand your position. I too have been in this for awhile and remain very conservative. I do disagree with your premise though on the the outstanding dinars whether its 4 trillion or 30 trillion. Recent articles from the CBI have stated they want the dinar to be a world reserve currency. I believe this was the plan from the beginning. It is probably correct to assume a larger majority of countries hold the hard currency. Yes, we Americans and ( gov't included surely hold the most). As you know monies in reserve ( including foreign) are meant to stay there to prop up the value of their own currency and not used for spending purposes. I believe most of the money that is cashed in after the RV will be reserved as such. The ones that go back to Iraq from traders may play a little roll but am I sure the UST has figured some of that out. This outcome will offset the burden the Iraq government presumably has. My next disagreement lies in your idea Shabibi is against an RV. I have read just about every interview and article he has been quoted in and my assessment he is in favor of raising the value of the dinar IMO, to at least the 1 to 1 rate without creating a lop. I understand your viewpoint from other post you have made about the re denomination and will touch on it briefly. Here is a quote today from the CBI/Shabibi about the dinar "Scheduled that are deleted three zeros from the new currency, ie that the sum of one thousand dinars will become the new currency was IQD one. This probably looks like a lop/re-donom to you, but to me an RV or increase in value of the dinar as the CBI has said many times would result from the removal of the zeros. I don't believe it will RV down the road after a currency change...too much at stake for other countries. Yes, there is speculation about the lower denoms "old ones and "new ones" but when they are introduced I believe there will be an increase in value on par with the dollar ( give or take ). I know many countries have forgiven the Iraq debt for reasons besides contract arrangements. It is quite obvious many of those countries are in need of boosting their reserves with a valuable Iraq currency. I too have listened to scooter,highlander, and others about the budget and other countries like S. Korea and the GDP numbers. All I have to say is Iraq has way more assets to make a solid case for a legitimate RV than any other country under article 8, WTO status, etc with a similar currency rate. Finally, I rather believe quite opposite than you and think Maliki is the hold up or someone farther up the PTB chain. Nevertheless, it will be interesting in the coming weeks to see the outcome of the budget, National conference (if held), and summit. Thanks for your candor though.

Thanks for the post...but what are you saying about this "that the Iraq dinar would be that of the Kuwaiti Dinar in 10 years" Are you expecting the exchange rate to rise for Iraq in 2020. Most will believe it will happen right now or 1st quarter 2011. Thanks for your thoughts though.

This Post was done Feb. 14th 2010. The dates will correspond with that month.

2006 Old article...just goes to show you how everything looks promising for an RV...even back then...proposals just come and go. ....somethings gotta give...the tipping point has arrived.

Thanks for the post. This statement has me thinking alongside the recent Phoenix post. The big question here is will they raise the dinar at all before the window is closed? What reason do they have to make the dinar more valuable to us individuals. The US govt's dinar is probably electronic and was told on DinarVet they will hold until 6 months to use which is well after the cash in time for us individuals. During the exchange time the Iraqi's will probably exchange their higher denom bills for the smaller denoms and could they be exchanged onto the smart cards for convenience? Will smaller denoms leave outside Iraq for us to exchange our "current" higher denoms during that window. I see foul play here. I tend to agree with Phoenix about a possible "set up" going on. We need to dig deeper here and find some answers. Now, I sure would like know Phoenix's input and for one what it's worth, I appreciate his posts. From reading his last one and his replies about cashing in quickly, I seem to notice him favoring a revalue during that short window, but I don't see in his statement any direct verbage about the revalue happening during that 7 to 45 day window. Yes, I understand supporting the banks and taking care of your taxes indicate a return on our money during that window and he has been very positive a RV is coming. However, perhaps his meaning or "not sure at all" that after they pull in the larger dinars and deem them worthless that the RV rate will happen and will be the value he has been proposing. I tend to think he means an RV during the window, but show me anything that specifically states that in his last post. To let all of you know I have been invested in the dinar since March 2010 and have been reading the forums quite regularly. I have been getting a bad vibe today because my best client who has a huge gov't contract in Kuwait/Iraq told me to definitely get back what I purchased. He told me one of the presidents of the Bank of Iraq said it wouldn't RV until many years. He told me he bought some early on but sold it when it raised in value some time later. Iv'e know this guy for years but just now got up the nerve to ask him. He did say if anything changes he will let me know. Now... I don't know if he is up to current speed on Shabbi's 2010 statement and other developments going on but I will hold on to my dinars for now and take my chances. PLEASE NOTE: I am in know way trying to discourage anyone here. I am just trying to read between the lines whether good or bad. I am like most of you, have a simple family, US citizen, working hard to make a difference. My dad was a Staff Sargent in WWII and very proud to be an American. Thanks

Completely agree wolfman! Thanks, Phoenix

Thanks for reply Ok, I can see your point, but why allow US registered Dinar traders via the presidential order to sell the Iraqi dinars to citizens if knowing full well this "speculation" is a farce or nothing really to gain?. I understand the investor side for rebuilding the country. Also, what about the Paris debt settlement. Forgive me if I am wrong, but wasn't most of that debt pretty much forgiven or Iraq payed little of it back . What does Paris get out of this? Oil contracts? Kind Regards

I appreciate the point of views here but it still bothers me about Former Pres. Bush talks on how this Iraq war will pay for itself. Does he mean 100 years down the road from future oil revenues? Are all these countries that are forgiving Iraq debt settling for a simple lop or RD without any thing to gain? I know some will be for oil credits but what about others? Seems puzzling to me.

Thanks Steve for the reply...I will go listen to the rest of the conference call and I too see an economic giant emerging as well.

SteveI, Thanks for reminding me of the IMF article. Can you help me understand the part where it says"IMF holds a vision for Iraq as completely isolated from the global system" Does the word "as" mean they are trying to let us know that Iraq is preparing to become an internationally recognized currency or are they saying they want Iraq to raise the value of the dinar in house perhaps for a while outside of the global system. I am am trying to understand how this effects contacts, parliament salaries, etc. and I have been reading articles about how an "in house" RV won't work but I was thinking a short term "in house". I hope what I said is not too confusing. Either way, thanks for all the time you have put into this. Blessing to you and your family.

No, that's 14B from last years budget. 2010 budget was 70.4B

Has this information been talked about before???...or for that fact any of this post? He also revealed that «all the groups had agreed at the last meeting on the importance of expediting the formation of commissions after the day of Eid al-Adha, and also send a letter from the House of Representatives to the Government requesting the removal of the budget to parliament for approval, and here is the budget of the priorities of our work now is of importance, and prevent the disruption of the wheel of the government all the citizens, noting that the delay in approving the budget in 2010, was due to intersections of the blocks because of the proximity between the elections and the government turned to the conduct of the business, and delayed negative impact on all aspects of the state, we do not want the ball back again ».

"Shiny new restaurants and car dealerships are popping up around town—and vanity license plates are fetching north of $10,000". You'd think the RV had occurred already!!!

I like these 2 bold quotes...thanks for the post "Iraq's progress towards an irreversible democratic system of governance can not be derailed". "I call on them to redouble their efforts and work together to ensure timely completion of the formation of a fully representative and inclusive government that can effectively address the needs of the people".

Excellent Joe P -the voice of reason. I agree and the ".27 rate" will be a back-breaker for Iraq. Yes, they will destroy all the higher denoms coming in, but many investors including us will just turn around and buy more of the new lower denominations and stock up waiting for them to increase the value higher and cash in again. Iraq will have to start the auctions, buying/selling etc. as well. This is worse than starting at a higher rate maintaining stability and currency fluctuations.