tjimpala

This is what I have been trying to say all along. There will almost Definitely be an INCREASE in the value of the Iraqi Dinar. The problem is that many here seem to think that this investment is EITHER going to make them MILLIONS of dollars, OR they are going to LOSE everything. So many times I have read people posting something to the effect of "we might lose everything, but it's worth a shot a millponds." WHY does it have to be so polarized? Have you ever thought that just MAYBE it might revalue at $0.01, which would be ten times your money. Or $0.10, which equals about a hundred times. The idea that the IQD will revalue at $3, or even $5, is rather silly. Let's consider that value of the CURRENT state of Iraqi affairs first, then we can hope for our millions as the justifications come out of the woodwork.

How come when I say that, I get bashed???

http://www.investors.com/NewsAndAnalysis/Article/549947/201010081828/Iraq-govt-resolution-inches-closer.aspx Iraq gov't resolution inches closer Posted 06:28 PM ET Political leaders are nearing agreement on a new ruling coalition, said a key Kurdish negotiator, 7 months after elections left no party with enough seats to form a gov't. The possible agreement with Kurdish parties would give PM Nouri al-Maliki's Shiite-led coalition enough parliament seats to begin the process of picking a Cabinet. It's unclear if the deal would include the Sunni-backed bloc headed by former PM Ayad Allawi.

"$5k" and "$10k" notes?? You have $5000.00 United States Dollar notes??? I'm SURE you meant 5000 DINAR notes, right? That's the problem with many "investors" who let this thing get so carried away...they already assume they are holding currency that will be worth its face value in U.S. DOLLARS!! These are DINARS people.. Iraqi Dinars worth less than 1/10th of a penny per dinar. YES, I believe they will be worth more in the future, but THEY ARE NOT U.S. DOLLARS!!!

http://online.wsj.com/article/SB10001424052748704696304575538284084915178.html?mod=googlenews_wsj BAGHDAD—Ayad Allawi, the top vote-getter in Iraq's inconclusive March polls, suggested in an interview Thursday that he could join Prime Minister Nouri al-Maliki in a power-sharing deal pushed by the U.S., if several conditions are met. Late last week, Mr. Maliki won the backing of Muqtada al Sadr, an anti-U.S. Shiite cleric whom American authorities hope to see excluded from a significant government role. Mr. Sadr's support significantly boosts Mr. Maliki's chances of winning the parliamentary majority that he needs to form a new government. Mr. Allawi, whose own slate edged out Mr. Maliki's by two seats in March parliamentary polls, hasn't been able to cobble together his own majority, leaving Iraq in political limbo. In Mr. Allawi's first interview since the Maliki-Sadr tie-up, the former prime minister said he had agreed to restart power-sharing talks with Mr. Maliki that were broken off last month—but only if all top posts, including who serves as prime minister, are on the table for discussion. Officials close to Mr. Maliki couldn't be reached for comment. A member of his parliamentary bloc, Adnan al-Sarraj, said the premiership was non-negotiable and belonged to Mr. Maliki. Mr. Allawi also called for a host of other issues to be discussed, including handing some powers from the prime minister to other positions. He called for discussion of a road map for resolving some of the country's most divisive issues, such as internal borders and the sharing of oil revenue and resources among the central government and regions and provinces. Mr. Allawi said he was awaiting a proposal from Mr. Maliki about talks at the behest of U.S. officials, including Undersecretary of State for Political Affairs William J. Burns, who was in Baghdad on Wednesday and met with both men. Mr. Allawi said he was also still pursuing a parallel track that involves assembling a rival coalition that could sideline Mr. Maliki's. He said he thinks he could muster enough coalition partners to at least match Mr. Maliki's current numbers. The U.S. has pushed a plan for a unity government in which a new, powerful federal position is created to balance the powers of the prime minister. "If the memorandum is handed over and we are convinced by it, then we begin talks and end with naming who gets what in terms of positions in the country," said Mr. Allawi. "But now there are no names; there are just suggestions being floated, nothing specific." Changes to Iraq's system could require legislative approval or constitutional amendments. A spokesman for the U.S. embassy in Baghdad declined comment on discussions among Messrs. Burns, Allawi and Maliki. U.S. Ambassador James F. Jeffrey said earlier this week that Washington had no preferred candidate for the premiership nor was acting as mediator to help assemble a governing coalition. But he said the U.S. stood ready to help end the impasse and stand up "an inclusive government." The coalition between Messrs. Maliki and Sadr is virtually all Shiite, while Allawi's bloc is almost three-quarters Sunni. The U.S. believes a broad unity government formed from both sides and the Kurdish bloc best reflects the election results.

It's the old Iraqi Dinar with Saddam on the obverse. News articles will frequently use old file photos, even in new stories. This image was probably taken pre-2003.

It's alright....I've garnered a lot of "negatives" since I've begun posting. It's encouraging, actually; nobody who has ever made their point has done so without pissing-off the masses.

Uhhh, Yeah...I'd rather read English, but that's just me.

"Chill Brah..."

In Arabic, "Allah" means "the god." Jesus spoke Aramaic, and in His native tongue he said "Alaha," which means "The Only Being." Arabic is a sister language to Aramaic. If only Muslims, Hebrews, and Christians knew they were praying to the SAME god, maybe there would be no wars...oh, wait a minute...of course there would be wars... there's too much money to be made for there not to be any wars!

YES, I own Iraqi Dinar. YES, I want it to revalue at $3.22 (or 5, or 9 million vs. the U.S. Dollar). Would I be happy with 1 Dinar=$1? Of course I would! But, come on people...enough with the---"it will happen tomorrow"---crap! EVERY SINGLE GUESSTIMATE on this forum HAS BEEN WRONG!!!! Some of you have been waiting for this to happen since 2004, and I can understand your frustration, BUT, let's face reality for a moment. The Iraqi currency COULD be revalued TOMORROW...OR...it could be 3 more years until it does. If YOU think otherwise, then I hope it DOES happen tomorrow because I don't like to see anyone in despair, BUT the REALITY of owning Iraqi Dinar is such that NONE of us knows when, exactly, it will be revalued. By the way, for those of you who assume that it will revalue at $1.00 or more, realize that that is more than 1000 TIMES its present value. CAN it happen? Sure it CAN. Will it happen...come on...when was the last time ANYONE made 1000 times their money on A SINGLE CURRENCY INVESTMENT? Even the KUWAITI Dinar didn't perform that well. people there made up to 60 times or so their money, but NOT 1000 times. THE BOTTOM LINE?? IF...IF you make three to five times your money here, be glad. If you make a hundred fold, be ecstatic...if you make a thousand fold or more, convert to Islam and thank Allah because that would truly be a sign.

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Don't take their responses too hard. It seems that everyone who poses a question that might imply less than stellar returns is quickly attacked here. Even valid questions are bashed if they threaten the wild dreams of would-be multi-millionaires. I'll be happy if the Dinar is worth three times what I paid for it. I'll gladly accept 50 or 100 times my money. But 1000-3000 times our money??? Now that's a good dream!

It was a rhetorical question to Mel. She was concerned that she wouldn't be able to wait for the value to slowly rise after a revaluation because of the rumores 90 day window. I was just letting her know that she should be able to exchange within the 90 days to comply with the bank policy, then she can turn around and repurchase Dinar from the same bank and hold it longer term. The tax consequences would be a non-issue because the tax she would pay on the repurchase would be based on its selling price and the taxes on the original sale would have already been applied.

So, if Iraq doesn't give up the goods, and she won't give up until Iraq does, then we've got ourselves a paradox here... Not being critical, just pointing out an observation about the seemingly contradictory statements

Why couldn't you just trade in your large denom Dinars for Dollars and then buy the NEW low denom Dinars from your local bank, which, according to Phoenix, WILL be trading in Dinars by then. The rate shouldn't change drastically in the few minutes it would take to do this. So, IF....IF this really happens, you should have the option of holding Iraqi Dinars for as long as you wish.

Finally, a day with two REAL news reports. I was getting tired of the hoopla. Seems people think cheerleading this thing will somehow make it happen sooner. Thanks for the post and link.

Fifth Third Bank exchanges Iraqi Dinar currently (yes, right now). They have a branch in Las Vegas (kinda sorta Southern California[ish]). They also have a branch in Marietta, Georgia, and branches all throughout Pennsylvania.

That was classic creativity!! Hilarious Good work!

You were doing fine until you got to the part where you stated that Iraq's 5 Trillion would become 5,000,000.00 5 Trillion divided by 1000 is 5 Billion, not 5 million. I'm not sure where you got the "5" figure. I have seen the claim that Iraq has "25" Trillion Dinar and that it will either become 25 Billion U.S. Dollars or 25 Trillion U.S. Dollars. Both figures appear to be absurd. 25 Billion is far to low for a country that expects to export around 70 Billion Dollars a year in oil, but 25 TRILLION seems far too much for that same economy. It seems to me that he true figure, BASED ON PROJECTED FUTURE OIL EXPORTS, will lie somewhere in-between; in other words, I can see Iraq with 250 Billion or even 2.5 Trillion, but not ten times less or ten times more than that. We will probably make three times, or even thirty times, our money, but not a thousand times, as many wishful thinkers proclaim.

I know you stated this was Old but Good, BUT My only problem with that article is they said "in the near future" In 2007... So much for THEIR professional knowledge of the markets.

I think this thread is too old for you to get many responses. Try the RV/Revalue Thread. For what It's worth, no one really knows what they will do with the current currency. Many here will tell you they know for sure that it will either revalue at equal to a U.S Dollar or more and that you can exchange the 25,000 notes at your local bank, but the truth is they do NOT know. It may get lopped, meaning they redenominate the currency so that your 25,000 note would be worth one dollar. If that happens, it is unlikely that you will make a thousand fold return like some here think they will. I believe, based on everything I have read, that the Iraqi economy and its oil are sufficient for between 10-100 times the present value of around $25 Billion. That means your 25,000 notes might come out being worth between $250 and $2,500 each. That's IF we can even cash them in from the U.S. Until I see U.S. dollars in my account after an exchange at my bank, I will remain healthily skeptical. Best Regards

http://thenational.ae/business/markets/dollar-peg-is-short-term-safety-for-gulf Dollar peg is short-term safety for Gulf Last Updated: Oct 1 , 2010 | 12:00AM GST All GCC members except Kuwait peg their currencies to the dollar. Gustavo Ferrari / AP Photo The US dollar peg has shielded GCC economies from the turmoil afflicting global currency markets, but central banks still need to be prepared to sever the link in the longer term, economists say. The peg to the greenback has helped to ensure the GCC is not directly at risk from the kind of rapid currency appreciation other emerging economies have faced, said Guy Monson, the chief investment officer and managing partner of Sarasin & Partners, an investment management company based in London. "The decision to stay put allows the Gulf to set its own agenda for its currencies rather than be buffeted by the global currency war," he said. "Many other emerging markets … have been looking with envy at the absence of currency pressures that the region has maintained and, with the sharp contraction in credit in Dubai, it has been enormously beneficial." The US, Japan and Europe are among advanced economies trying to devalue their currencies to stimulate stuttering growth and ease deflationary fears. Developing nations in South America and Asia have blamed such actions on their own currency rises, hampering efforts to control food, wage and asset price inflation as their economies grow more quickly. In a sign of the growing tensions, China yesterday warned US lawmakers that a measure passed by the US House of Representatives aimed at raising the value of the yuan could damage the economy. Guido Mantega, the finance minister of Brazil, has complained his country is facing a "currency war" as foreign capital has surged into local money markets. Brazil's real has soared about 18 per cent against the dollar this year, with policymakers saying its strong currency is impeding efforts to rebalance its budget deficit and boost exports. All GCC members except Kuwait peg their currencies to the dollar. The peg has helped insulate the GCC from currency fluctuations, although economists say low unemployment and the relatively stable flow of recent hydrocarbon exports have also helped protect states from global currency tensions. Inflation in the UAE remains relatively benign, rising by 0.54 per cent in the first eight months of the year, official data show. Sultan al Suwaidi, the Governor of the Central Bank, has often repeated the UAE's intention to maintain the current currency regime. Policymakers are anxious to avoid a repeat of 2007, when a flood of speculative money into the region stoked inflation and a housing bubble as investors brought in funds on the expectation that local currencies would be revalued. The revaluation did not happen and the financial crisis sparked a sudden flight of money, exacerbating a credit crunch. "The dollar makes sense for the Gulf and we haven't seen anything to change that view at the moment," said Tim Fox, the chief economist at Emirates NBD. "The importance of oil means it is to the region's advantage to keep the link for now. Any suggestion about bringing it into question is more of a longer-term issue." The currency link remained appropriate for the region, said Giyas Gokkent, the chief economist and head of asset management research at National Bank of Abu Dhabi. "GCC economies mainly want a stable US dollar, neither very weak, which causes inflation, nor very strong, which is bad for commodity prices and hence revenues," he said. Saudi Arabia, Kuwait, Qatar and Bahrain are pressing ahead with plans to form a GCC single currency. A peg to the US dollar is considered the most likely initial option for the currency. Alternatives to the fixed dollar link include a basket of different currencies or a "crawling peg", in which a currency with a fixed exchange rate is allowed to fluctuate within a certain range, said Mr Monson. "I think it's extremely wise to plan for the longer term as the dynamics of the region are different to the US but where the region was wise was not to rush into it," he said.

It hasn't been pulled. it's there: thenational.ae/business/markets/iraqi-stock-exchange-law-before-parliament BUT I found THIS article much more interesting: DOLLAR PEG GOOD FOR MIDDLE EAST thenational.ae/business/markets/dollar-peg-is-short-term-safety-for-gulf

For what it's worth, MY first post was attacked as well because I challenged everyone to tell me WHERE the U.S. Dollars would come from to exchange the (claimed) 25 Trillion Dinars. Some people attacked me, saying I was "clueless," but a few people were kind enough to point me in the right direction to find the answers I needed to make a decision. I followed the advice and did the research (albeit much less research than many here have done), and I do see now how it can all work. The post "pinned" near the top of the Rumors topic about an Economist's explanation was helpful. I've read several claims that Fifth Third Bank, on the East Coast, sells Iraqi Dinar. Yesterday, I called Fifth Third (1-800-972-3030 ) and asked the customer service agent who answered the phone (after following the voice prompts to get to a live agent) whether it is true that they deal in Iraqi Dinar. He immediately said "yes" but he wanted to know which branch I was close to because not all branches have the Dinar. I told him I'm not even in their state (apparently all the Fifth Third Bank branches are in Pennsylvania). I thanked him for his time and that was it. I know this doesn't mean much, nor does it surprise many on these boards, but for me it was interesting to know that there actually ARE real banks in the U.S. buying and selling this currency every day. I highly doubt an FDIC member bank in the U.S. would engage in buying and selling a currency if it were in fact not a legitimate form of exchange. I'm not saying banks should be TRUSTED, I'm merely stating that Iraqi Dinar IS being traded/exchanged "legitimately" in this country every day by at least one bank (I've read that Citibank may be trading as well, and there was another lesser known name that I can't recall right now). I just wish there was a way to reliably cross-reference all the claims people have made about their "State Department" friend who helped the U.S. create this currency, and how it will Revalue within 7-10 years afterward (7-10 years after 2003, that is)