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.

WOW! Hard to believe that article was done in SEPT. 2006. At least people can't say "why isn't the media talking about it". Never read that before...thanks for the post Iowadinar...

thanks for the post sgtsanders. It was good to see other Iraqis Muslims use the phrase "brothers" for the Christians there. It has to start with the muslim leaders of all sects to not only condemn terrorism but to condemn the "jihadist"teachings of their "Qur'an" religion that inspire this violence...unfortunately pride is the dominate factor and which leader will be the first to admit that...

Cool Video Phoenix, love the new Jerusalem photo....hard to imagine the size that will be Thanks

This is a post by Joel Rosenberg today. It seems relevant with all the other Iraq stories posted. If something like this is on the horizon, then when the "dinar RV" occurs it might be wise to cash in rather sooner than later. Will a strike occur early next year?? Who knows. Will this affect the Iraqi currency post RV.?...not sure, but war has a dramatic effect on the economy. NETANYAHU TONE CHANGES ON IRAN, BEGINS LAYING GROUNDWORK FOR POSSIBLE MILITARY STRIKES, SANCTIONS NOT WORKING By Joel C. Rosenberg (San Diego, California, November 9, 2010) -- Israeli Prime Minister Benjamin Netanyahu's trip to the U.S. was originally supposed to be three days. It has been extended to five days. He stopped first in New Orleans on Sunday to speak to a conference of American Jewish leaders, and to meet with Vice President Biden. He's now spending several days in New York meeting with UN Secretary General Ki Ban Moon, Secretary of State Clinton, and others. The Obama team is trying to focus on peace talks with the Palestinians. But Netanyahu's focus is different. He is warning military strikes against Iran may be necessary. Indeed, Netanyahu's tone on Iran is changing. For much of the year, he has been fully supportive of economic sanctions. But the PM is now telling the U.S. to put a credible military threat on the table. He is, I believe, beginning to lay the groundwork for a possible Israeli preemptive strike, if the U.S. and the West can't stop Iran any other way. Yesterday, I did an interview with NewsMax.com. Here are some excerpts. The full interview is posted on my weblog, along with the latest headlines on the Netanyahu visit. "President Barack Obama isn't doing enough to keep nuclear weapons out of Iran's hands, and Israel may have to launch a military strike as a result, says author Joel Rosenberg, former political consultant to Israeli Prime Minister Benjamin Netanyahu," reports NewsMax.com. "Rosenberg, a New York Times best-selling author, recently published The Twelfth Imam, a novel. 'It's not simply dangerous that Iran's leaders have publicly called for the annihilation of Israel and the U.S. and that Iran is rapidly pursuing nuclear weapons,' he tells Newsmax.TV. "'The problem in Iran is that the regime has an end-of-time theology. It believes we are living in the end of days. It expects the Islamic messiah, Twelfth Imam, to come at any moment.' Furthermore, the regime believes that annihilating Israel - 'the little Satan' - and the United States - 'the big Satan' - is the way to hasten the Twelfth Imam's arrival. 'This is what's so dangerous: nuclear weapons soon in the hands of people who believe it's their God-given mission to end Judeo-Christian civilization as we know it,' Rosenberg says. 'We're rapidly approaching the point where this could become all too real.' "Netanyahu has said that American economic sanctions against Iran aren't working and that the United States must put a credible military threat on the table, Rosenberg notes. But he doesn't think Netanyahu is convinced that the Obama administration will take decisive action. 'I think the prime minister is laying the groundwork for sometime next year that if the world and U.S. don't take decisive action, Israel may have to take action itself. I pray for peace but think we have to be prepared for war…..'"

great post! I am wondering if the Federal Reserve will actually implement this idea of holding our cashed in dinar 6 months down the road post RV for future Iraqi oil credits . It seems like a great way to back a higher RV rate. any guru input?

Another viewpoint: Ali (Dinar Trade) called me today regarding that video I emailed to him wherein I asked for his assistance in translating what was being said in Arabic. Here’s the main gist of what we talked about: He sent the email to his contacts in Iraq. The video is old (Ramadan timeframe) / outdated. The video was a news reporter who interviewed various businessmen and shop keepers about how they would feel about the IQD IF it were to be re-denominated. There were NO government officials who were interviewed. As such, the opinions expressed in that video were just that… opinions of those people. The interpretations about that article were not represented properly. In a nutshell, the video didn’t really have anything significant to share. So, there you have it, straight from Ali of Dinar Trade to me. I hope this helps ease up the confusion. Go Understanding… Go Ali… Go Dinar!

The article below is quite moving and should be read by all. I can't imagine the pain the normal Iraqi citizen is going through let alone the greedy, insensitive, relentless, hell-bent Iraqi Gov't's. pursuit of injustice towards its own. God help Them!!! Editorial: Who cares about the average Iraqi? Posted: September 22, 2010 by Justhopin in Iraqi Dinar/Politics Tags: Iraq, middle east, Baghdad, Iraq War, Iraqi Kurdistan, Suicide attack, Improvised explosive device, Adhamiya, Sazan Mandalawi, www.kurdiu.org 0 Sazan Mandalawi As a proofreader in a news agency in Iraq’s Kurdistan region Ifeel like a doctor, but the type of patients I indirectly meet every day areaverage Iraqis. Unlike a doctor I cannot cure their illnesses or prescribemedication but I have managed to identify the cause of their psychologicalillnesses. Today, such Iraqis leave home unsure if they will return totheir families that evening or not. Those who have jobs work long hours everyday for little pay. If they are lucky their children or nephews and nieces arenot yet kidnapped and if they are extremely lucky they haven’t had more thanone relative martyred in a suicide attack. Report after report comes in and I begin to feel the woes andthe pains of the Iraqi people. Their restlessness and how desperate they are tolive a day without hearing a bomb, without being at risk of kidnapping and tohave more than just a few hours of electricity every day. These patients have wounded hearts, they have anger managementproblems, they have lost loved ones and their scars are yet to heal. Recentlythe Iraqi interior ministry revealed that the country had its deadliest monthfor two years in July, with more than 1,500 casualties. A single suicide attackon an army recruitment centre in Baghdad last week killed 57 people and wounded123. Not a day passes behind my desk that I do not receive an articleabout a roadside bomb, a suicide attack or a killing. I retype the same wordsevery day: “unidentified gunmen” killing a certain number of civilians and then“escaping to an unknown location”. It is hard to believe the country isfloating on what the world refers to as black gold. The average Iraqi relies onfood rations and is desperate for car fuel – that is, if he still has a car. Asa young girl when thinking of my future and ways to reach my dreams, my eyes beginto sparkle with hope. The average Iraqi’s fills with tears as he or she tellsyou: “I just hope live tomorrow”. Recently it was revealed that narcotic drugs are being producedin certain areas such as the Dhi-Qar province. Radiation from war remnants hasbeen found as the cause of cancer among young children in particular. Missileswere found in a girls’ school in the Adhamiya area and numerous unidentifieddead bodies are found almost every day. I can only imagine Baghdad as beingflooded with corpses and wounded people. Politically, Iraq today is like a ship in the middle of theocean with tens of captains, each stirring in a different direction towardstheir own interest. As for the government, the electricity minister hasresigned and the factions are yet to agree and form a government – five monthsafter the election results. The reality is it is a fight over a seat – theprime minister’s post; as citizens are crying for power, food and security, thegovernment is busy searching for where its treasure lays. Reports state morethan a third of the new parliamentarians are supposedly on holiday. Even if thegovernment forms and with some miracle the requirements of the people are met,it will take an entire generation to heal the wounds of the average Iraqi. Thepsychological pains are greater than any physical wound. Every Iraqi needs apsychologist or a doctor. The tragedy is that few worthy doctors are left inthe country, as many were threatened and had no alternative but to escape infear of their lives. After knowing the pains of the Iraqis it is frustrating as dayafter day I proof the same sentence in tens of articles, after so and so met“no agreement was reached”. With a seat up for grabs that is worth more moneyand power than one can imagine, who cares about the average Iraqi? http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&u=http://www.kurdiu.org/en/wtard.php%3Fpageid%3D2961&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&usg=ALkJrhh3lEaWBui5R_88Yt5zLH-o4ajhjw

Thanks Phoenix. That being said, and logically speaking Iraq is a different bear than Kuwait, but if and when the RI/RV for Iraq does come about, do you see similarities in exchange rate stability similar to Kuwait. I say this because like you say, other "pumpers" out there are saying cash in quick because rates can change fast.

Thanks Pheonix. Yet it still doesn't explain whether there was an currency fluctuation from March 24th through May 7th like many have asked. Anytime during that window of time did the $3.47 move in price.