new york kevin

This is a great article in that it has already developed a few well informed responses from dinarians. A little more understanding always helps. Bottomline, I don't know what to make of it either. There is no change in the "change" columns, the trading in the high and low columns reflect this, and the CBI is the same as it was yesterday on the exchange. At best GUESS, this shows that this advisor is prepared to follow the IQD when it becomes a viable currency.

I would hope not because we who hold IQD would loose big time on our risky investment. If they split after the RV/RD and we have cashed out then OK. ?This may allow us the chance to buy some of their currency. Best thing that could happen is that a Kurd gets Maliki's spot in the next election and fills the Security Minister's position with a Kurd , and then RV/RD this thing. They would bring major prosperity and a proven security plan to this country. Then all of Iraq would love Kurds, they would feel apart of Iraq, and the world would love em too.

Spy777 His sources ARE TerryK, Okie, and Tony.

Great article. This won't help the Republicans if this article gets burried in the time prior to the mid term elections. There will be no triumph for the common man if we loose the Congress and don't pick up a majority in the Senate. Gotta send this article to your Congressmen and Senators once a month between now and then.

DB: I usually respect you but SHUT UP. Breightling talks alot about the ISX yeah but we have a whole section devoted to the ISX ... so where is he wrong. If i had the money to get on the ISX somehow I would, but I don't. There is great money to be made there especially before the ISX get onto the Nasdaq. You might do well to develope at least 2-3 sources that you trust and compare what they say on the important subjects as your first step in sifting out valuable info from the B.S. If they are truely independent and also saying similar or the same thing (like Adam and Breightling do occasionally) than go forward on that as you think is best.

FYI, Maliki had that iraqi constitutional restriction over turned by their Supreme Court on what sounded to me like a technicality. Something like the law came from their legislative branch and it should have originated from the executive branch. So he is clear to go for his 3rd try. It may just be an American norm, but it just feels right to limit these Prime Ministers/ Presidents to 2 terms.

A penny is good, but 10 cents would be better. Beyond those figures its all speculation at this point.

There hopefully will be a more optimistic window, however short, for us to cash in. I cannot imagine that Iraq would shoot themselves in the foot after all this hard work only to devalue their currency and plunge their economy into hyper inflation and default. If nothing else cash in buy the new dinar and wait on that to go up per the market demand at that point. Hoping there won't then be a managed float keeping the value down. There has to be a combination of 2 or more scenarios along these lines. Gotta ask Adam this week. I have to look at the glass as partially full.

I laughed so hard I gotta go p.

Any takers on the lopster boil and clam bake. Maybe in Maine, Ct, Prince Edwards Island. They will have the best tasting lopsters. I reccommend slightly sweetened butter.

New Dinars for Old Posted on 05 July 2011. Tags: iraqi dinar, ISX, Redenomination At the end of last month, a spokesman for the Central Bank of Iraq (CBI) told reporters that a plan to redenominate the Iraqi dinar will be presented to the Council of Ministers in the near future. (See here and here.) The Council is then expected to submit the relevant legislation to Parliament for a vote. If the lawmakers approve the project, all existing banknotes will be replaced with new currency at the rate of 1,000 old dinar for one new over some unspecified period of time. Given Parliament’s current backlog, this change can hardly be imminent. Still, you might think they could get around to voting on the CBI’s proposal some time before the end of this year. In that case, the redenomination could presumably be completed by the end of 2012. The process will necessarily involve both the exchange of new banknotes for old and the restatement of contractual obligations in terms of the new currency. Among other things, three zeros will have to be eliminated from the share capital of the ISX listed companies as well as from the number of shares each has outstanding. (This will keep the par value at one dinar.) I’m told this should be a relatively straightforward change for the depository center to make. Trading should not have to be suspended for more than a few days and it may be possible to proceed in phases of a few names at a time so that the entire market does not have to shut down during the transition period. Similarly, it seems reasonable to expect the CBI to exchange new dinars for US dollars at one thousandth the rate for old dinars. In other words, if the original rate were IQD 1170 = US$ 1, post-redenomination this would become IQD 1.170 = US$ 1. This is off the Iraqi Business News website http://www.iraq-businessnews.com/?s=Iraqi+Currency+Overhaul&x=11&y=7 Problem is I am not sophisticated enough to see how, if still accurate (if it ever was accurate), this will effect those of us who hold the higher denoms of IQD outside Iraq. Will we get to cash in at $1.17 to 1 dinar? I like this movement of the 3 zero's better than the bull dung of the Lopsters. Perhaps a question for Adam's next chat? I know, maybe after the RV we can have a seaside lopster boil and clam bake.

This has been predicted. I thought he may try doing this. Don't really know how things will workout if he wins a third term. I can only hope that the roots of of constitutional law in this upstart democracy will win out and that it will come back to bite him in the butt. Something to the effect of his getting the nod from his party, which in turn causes all the other parties to coagulate around one candidate, someone other than Maliki and elect them. If this happens, and someone else gets elected then perhaps Iraq will not devolve into another ME dictatorship placed into power by the U.S. government. May the rule of constitutional law take hold and limit this man, who has done great, to his 2 terms. The worst thing that could happen is that we would experience another Shah of Iran type thing, or an Iraqi spring. Or worse, delay the RV till the end of his third term. JMHO. You know if he doesn't get elected, maybe just maybe, he will push the RV button so he can get credit for the RV and all the blessings that will come Iraq's way.

Hopefully this news, along with the million other positive they have taken will place pressure on the decision makers to press that button and RV this thing. Brady Dear I appreciate this post.

Shabibilicious: There is nothing wrong with a little "pain" or well placed "smack" ! Gets the cialis working a little quicker. ... which is what I read on the internet somewhere, and you know they cannot put anything on the internet that isn't true.

Could have used this one when I commented on Okie Oil Mans latest for sure thing post today. I voted for #1 yesterday.

Well really it all depends on what your definition of " at any moment now " means?

Maggie 123 there is wisdom in your words.

Long winded wordie dude.

Interesting. Just for fun, because of posts like this, I say we have a post RV party in the parking lot of our local WF. Have patience with this newbie, before you begin stalking him and slingging slurrs at his car, h8ters. Give him a chance. Let him post a little more, develope a track record. If he proves to be son of TerryK or Okie Oil Man then have at it if its worth your time. Most of us were dupped in the beginnig hearing what we wanted to hear. Seeing $$$ with everyones good article. Then after awhile it dawned on us that alot of people on this site or other sites were nuttin but stupid dumper pumpers suffering from deflated egos and a$$hole-itis. Help the dude to learn whats right, if he doesn't learn then the stupids on him.

[Adam Montana] Listen, I made a couple of jokes about the rate in today's chat... I hope I didn't ruffle any feathers with that The REAL reason I am invested in the Dinar is because of things like MrOptimistic and NewYorkKevin's posts - forget about the gurus, focus on the facts. Things are going good for Iraq, even if it's a bit slower than we would all like. Your gounded info provides us coursework towards all of us getting educated regarding this investment, how to examine it, how to know good info when its there,conmen when they speak, and even how to manage the post RV wealth. Honestly. Also, thanks for todays chat and that last tagline. I am gonna take that as a complement.

What would you have the U.S. do spend till we reach the point when we cannot pay our bills, or the interest on our bills? That would be a real undeniable default wouldn't it.

Boehner is right f-ing on you sphincter.

Sir Adam: How can I/we check an IQD article on the web for its original issue or printed date when the referenced article does not appear to provide clues to this date, irregardless of what Ministry it comes out of? My recent 1st attempt at posting an article off of the Ministry of Planning website, (IQD $1.13-$3.20) one that I hadn't seen before, devolved into it being anywhere from a 2009 - 1989 article; according to the few criticle comments received. I thought it was new or at least recent. All along I felt that it would be a good way to learn how to think outside the financial box and not be intimidated about playing in the big boy yard as much. As I tried to explain 3-4 times. It provided insight into the intricate ways the financial wizards in Iraq, the US (US Treasury), and else where are working to prepare this to RV and build up the infrastructure in Iraq on the cheap. De-dollarizing Iraq, by (manipulating) raising the price of USD sold internally, and by periodically increasing its USD reserve. How a rise in the street value of the dollar inside Iraq is to be expected as de-dollarization occures, etc. I may not be as articulate as I thought, I believed I was on the trail here; and some folks ... well what can I say about some folks.

Ola Sir Adam: Straight to the Q. With the electricity grid now being up & running 24/7 in most parts of Iraq (according to a recent D.V. article) how is progress going concerning the litany of other public services that the general population were clammering for ? Water, cooking fuels, garbage collection, sewer and water, security, etc? Are these public services still the vitally important steps towards the general population of Iraq developing confidence in Iraq, GOI, and their Iraqi dinar; and our RV?

Hey Doc: Bottomline, whether a 1989, 1999, a 2009 year report, time will tell if the info here still applies or not. The problem is how most people think, so if nothing else this article should help educate non-financial folks into thinking just a little more like financial folks; like the economists in the CBI, GOI, and domestic and foreign companies/investors seeking to make a profit from Iraq. Lowering & decreasing the value of the dinar below $3.00 or for that matter even below 10 cents does not mean what you and I normally recognise it to mean. What we see here is how a government manipulates its own currency to achieve a goal. Like having the U.S. dollar in country to prop up the Iraqi economy. Then printing way more IQD than was necessary to replace that foreign currency, modernize Iraq's entire infrastructure, instill the populations confidence in their national currency (now that they developed more confidence in the USD) . To achieve this goal at the lowest cost possible you do it with a currency that is organically or artificially kept at a rate below what the market can bare. Once you reach a pre-determined point in rebuilding this infrastructure, for our blessing to RV at anything north of 1 penny you must get rid of the competition which was (maybe) and is the very foreign currency ie: the U.S. dollar in country that helped to save your economy in the first place. What is the least expensive way to do this? Get large economic players to accept project deals and trade agreements negotiated in Iraqs current currency at its current rate ( India, South Korea ) even while the IMF is flexing their muscles somewhat against you. All the while promoting yourself to the IMF in a manner and speak they recognise, so that eventually the international community will place confidence in the IQD and GOI and come and invest in Iraq while doing so is still cheaper than toilet paper. You do this by decreasing the amount of IQD and USD on the Iraqi market and not replacing the USD removed from circulation. While replacing less worn out IQD with new IQD than you took off the market in the first place. In whatever denominations the GOI and CBI deemed appropriate. Whats is the effect of this, as I mentioned earlier people will hoard the USD forcing the street price of the USD to rise to prohibitive levels do to supply and demand models. Thus erroding the confidence the Iraqi people currently have in the USD and placing that very confidence in the IQD a domestic currency. Then you RV, RD the IQD at the international level, which would of course translate to the IQD domestically. After that its just a decision of whether the GOI wants to manage the float of their currency or allow the market to determine the value/purchasing power of the IQD. So again, old report or not, this is what has happened to date. It could and should RV now; at 1 penny, 10 pennies, or whatever. These games are what the Chinese are doing, Germans. Cheaper to build everything in China then export/import it into the US, right. I am just trying to help some folks out there realize how the financial wigs think out there so you can manage your post RV fortune well on your own without your feeling like your CPA is ripping you off.