steve999

yes -- thank goodness

OMG--- we go from TK to this

Baghdad, Iraq (CNN) -- Iraq's top political leaders met in the country's Kurdish north on Monday as part of intensified talks between the groups to try and break the more than eight-months' deadlock to form a government. Described by some of the leaders as "historic," the meeting is the first such public gathering of the politicians including the two main rivals -- Prime Minister Nuri al-Maliki and former Prime Minister Ayad Allawi -- since the March 7 elections. The opening addresses of the three-day talks in Irbil -- called for and hosted by the Kurdish Regional Government's President Massoud Barzani -- were broadcast live on state TV and other Iraqi channels. Last month, Barzani put forward an initiative for the various blocs to hold round-table talks aimed at speeding up the formation of a new government. Over the past week, representatives of the blocs have been meeting daily to try and reach a power-sharing agreement. In the March election, al-Maliki won 89 seats but lost to former Prime Minister Allawi's bloc, which received 91 seats. A 163-seat majority out of 325 seats is needed to form a government. The two leaders since have been jockeying for power. Leading up to Monday's meeting, officials had said they were close to completing an agreement, but remarks made by a number of the leaders indicated that they have yet to address key sticking points that remain unresolved ahead of this week's parliament session. Sunni Vice President Tariq al-Hashimi, a leading member of Allawi's bloc who described the situation in the country as a "crisis," was critical of the meetings preceding Monday's talks. He said officials had not tackled any of the contentious issues and left them all to the leaders to resolve in a few days ahead of a parliament session on Thursday. Allawi said the talks have reached some but not all the results envisioned. Echoing what his cross-sectarian al-Iraqiyya bloc has said since it got its two-seat lead over Maliki's coalition, Allawi said the government must be a real national partnership one where no one has "the upper hand" over the others. His bloc garnered most of the Sunni Arab vote. Allawi's al-Iraqiyya and other smaller blocs have been opposed to second term for al-Maliki. In recent days, al-Maliki who last month joined forces with followers of anti-American cleric Muqtada al-Sadr to form a post-election coalition, has also received the backing of one of the smaller Sunni Arab groups. There are public hints that the Kurdish coalition with more than 50 seats in parliament might be endorsing him for a second term. Officials and many observers have warned against a government that would exclude al-Iraqiyya and disenfranchise the Sunnis, whose exclusion from the government in the past led many to take up arms. A recent spate of violence across the country, including some of the most high-profile attacks to strike the capital since the start of the war in 2003, has been blamed by many on the political situation and the protracted government formation process. Ammar al-Hakim, the leader of one of Iraq's top Shiite political parties, said such a meeting should have taken place months ago. Al-Hakim, who said there should be no losers in this process, criticized the delay in government formation, saying that entering the ninth month since elections is a "shortcoming" and a "setback" for the political process. Most of the leaders spoke about the importance of an all-inclusive government and the importance of reaching real national reconciliation, but they also admitted that there is not enough time for them to resolve all such issues. The meetings -- expected to continue in the Kurdish region behind closed doors on Monday and resume in Baghdad on Tuesday -- will deal with more than a dozen issues. Some of the issues included the main hurdles for government formation like agreeing on the allocation of the top posts like president, prime minister and parliament speaker and the distribution of powers. But they also included issues that the politicians have not been able to resolve for years, and al-Maliki said it could take years to reach solutions on them. So, the issues might be narrowed to the ones critical for government formation. Violence has been steadily rising since the election, most Iraqis have become increasingly frustrated with their politicians and many have blamed recent bloodshed on the stalemate.

The dinar chat boards are funny things. Every opinion is thrown out there. Nothing is vetted or verified in some chat rooms. There are two things I have learned from the chat rooms. 1. People will believe anything. 2. Everyone has an agenda. Yes even I have an agenda. My agenda is getting to the bottom of all the rumors and exposing them for what they are, no matter what the source. I want to expose lies that support a hidden agenda! If I am wrong on something I hope someone will correct me. In fact, I welcome correction or a true difference in opinion or belief. I like to consider every aspect. I also own dinar. So my agenda is to try to figure out how much money if any I will make. This is the most speculative investment I have ever seen. I have talked about skeptics who enter these chat rooms to try to discourage the people who purchased dinar. There are two main reasons for these people to do this. First, they represent other investments and they think by bursting someone’s bubble they may get a new client. Second, there are those who just do not believe the dinar will ever amount to anything. These people claim to have some kind of economics education and they try to confuse people with numbers and figures. They omit certain facts to bolster their case. This is much like the atheist who goes in to a Christian chat room for entertainment. Then they turn around and claim we are pushing our religion on them. GIVE ME A BREAK!!! THE DINAR WILL RV/RI-----GO GO GO RV

Some people can not grasp how an RV will actually benefit Iraq and how Iraq will make money. This adds fuel to the lop theory. So let me describe the process with this example. I will use a revalue rate of 1 dollar to keep the numbers simple. The first thing to consider is the spread. The CBI has a spread. They have a buy rate, and a sell rate. Let us say that the RV happened and the buy rate is $1.00 and the sell rate is $1.10. Our rate for trading in the dinar would be the buy rate of the Iraqi central bank. (CBI) So now people who hold dinar begin to trade in their big 25,000 notes. CBI gives them a dollar for each dinar. CBI then sells the dinar traded in at 1.10 and instead of releasing 25,000 notes they release lower denominations. They are now making money on the spread. 10 cents per dinar. (if they do a lop they cut their wealth potential) At this point sanctions are lifted, the dinar is traded globally, and demand for the dinar begins to rise. All of a sudden investors that have not seen a reason to buy dinar begin to invest. More people have turned in dinar and even more people are buying dinar. Forex determines a floating rate that rises and falls based on demand. CBI begins to raise the rate to keep up with the global demand on Forex and even more people turn in dinar and more people buy dinar. If CBI raises the buy rate to two dollars and the sell rate two 2.20, that means the dinar they paid 1.00 for will give them back 1.20. They make money on the float!! 1 dollar for the float and 20 cents for the spread. If millions of dinar change hands then the CBI will make a huge prophet and at the same time remove all the higher notes out of circulation. If they lop then they will reduce their wealth, and the wealth of all dinar holders. This is a lose-lose situation. The dinar holders will also pull their investment capital, cut their losses, and go somewhere else to invest. Now ask yourself this question. You probably already asked this question before. What will be the new buy rate after the RV? Or What will be the RV rate? If it is too low then people will hold on to their dinar and they will not trade it in. If it is too high then everyone will trade in and there will not be enough people buying dinar so CBI will not make a prophet. So there has got to be a balance. Not to low, and not to high, but right in the middle.

very nice Carla--keep up the good work

thanks and hope you are correct

We are currently still waiting for the revalue of the Iraqi dinar. Earlier this year Iraq has announced intentions to revalue its currency. Since that time many rumors have been circulating regarding when this will happen. What will the new rate be? Will Iraq be strong enough to stand on its own two feet? What are the conditions that will bring a revalue? Let me just touch on the conditions that need to be in place and squash a few rumors. First the new government needs to be seated. Second the prime minister and the president has got to be chosen and the new government needs to be formed. Third the budget will need to be addressed for the United Nations to lift the chapter 7 UN sanctions against Iraq. When Saddam invaded Kuwait the United Nations imposed sanctions on Iraq. This also limited the trading of its currency. The Iraqi dinar is only used in Iraq today and it is not traded globally. This is in part because of the UN sanctions or UN chapter 7. When the government is finally established and the budget is addressed the United Nations will lift the UN chapter 7. This will allow the currency to be traded globally and give Iraq international status. You will be able to go to banks and trade in any Iraqi currency you have for American money. The new rate will be known once they address the budget. Some people have said that the UN sanctions do not need to be lifted for the currency to revalue. It would not do you any good to have a revalue and then have the sanctions in place. Do you want to fly to Iraq to trade in your Dinar? Would you exchange with an Iraqi currency dealer who does not need to compete with a bank? The good news is Iraq is operating like no sanctions are in place. They are receiving ships to port. They have been buying goods that are prohibited under the sanctions. They are building infrastructures that is limited under the sanctions. The UN is looking the other way. They want to lift the sanctions completely. They will not do so until the new government is seated and the budget is addressed. This is insurance just in case the government collapses and civil war breaks out. By the way this is one of the risks involved when buying Iraqi dinar. I do not think this will be the case. The new government is making progress. It is just extremely slow. We should be way past the point we are now, but hey…that’s politics for you. The RV will not happen until all four events take place 1 The new Government is seated 2. The government is formed and the prime minister and president is selected 3. They address the budget and announce the new rate 4. The United Nations lifts UN CH 7 Sanctions I still believe this will happen this year and Iraq will revalue. I know we should be done with all of this by now. The fact is it is just taking longer than expected. I believe we are close.

While the truth is hard to find, it is out there. It just has to be the number 1 goal. The agenda should be what is the truth about this investment. We should destroy all rumors, Intel, and lies. I include Intel because this is what a lot of people are calling rumors. In an effort to spread rumors people say just about anything and call it Intel. In many cases there is no intelligence in Intel. How about the “Intel” in the report that was circulating a few days ago that said Maliki was in the hospital, and that he was in a diabetic coma. Or the Intel that said the banks all know the new rate but they are not allowed to say? Or the Intel that says they released lower denominations. All of this really serves no purpose other than to frustrate the investment. I believe in the investment, and I will try to tell you the truth through out this series of post designed to debunk rumors. DON’T LISTEN TO RUMORS AND VERIFY EVERYTHING!!!! I know this is hard to do, but the aggravation of taking all the outright lies, (Oh I’m sorry Intel) at face value is discouraging in the long run! There is a good object lesson in the American news media. Fox News is basically conservative and republican in base. Sometimes they gravitate to the middle. MSNBC is ultra liberal and Democratic in base. CNN tries to be middle of the road but sometimes leans towards left depending on the story. The bulk of any story the news media reports shows a leaning towards their core beliefs and values. The last election in this country is proof enough for this alone! The same problem exists in Iraq today. If a part of Iraqi news media favors Maliki then the stories they release will be supportive of him. Other networks support Allawi, and their stories lean in favor of him. If you look through older post on this blog you will find news stories that came out of Iraq declaring Maliki stepping down, or buying property in England. These stories came from a section of Iraqi media who support Allawi. My mistake was to assume that the press in Iraq had the same agenda I had. My agenda is the truth. Nothing could be further from the truth than some of the stories coming out of Iraq. So now I am left to sifting through countless documents by the IMF, UNSC, and UN to find out what is really going on. If you look at older post in this blog and find news concerning Maliki or Allawi take it with a grain of salt and consider the Source. I will not change any older post. I will just count it as a good object lesson. What is the rate? This one question alone has been the source of many rumors. Speculation is all over the map on this. So I will break down why there are many different guesses on what the rate will be. Please keep in mind no one knows for sure and all this is guess-work. People guess by looking at what Iraq does, not what it talks about. Sometimes the guess-work comes from GOI or CBI press releases. 1. 1 to 10 cents. People who believe in this rate flip-flop back and forth from Lop to that rate. They argue that there is way to much currency in circulation. A high value in rate cannot support the amount of currency in circulation and even if this revalue thing happened in Kuwait and Germany they had a lot less currency in circulation. First there will be no Lop. More on this latter. Second the people who support this rate know there is around 25 trillion dinars. What they don’t know is not all the dinars are in circulation. If you go to the CBI’s web site you will discover that the coins that were minted are not in circulation and they have been removing the 25,000, and 10,000 from the public for over a month now. No one knows how much dinar is in circulation and how much has been removed. Second they compare the dinar to fiat currencies that are backed by nothing. The dinar is backed by Iraqi oil and the IMF will allow them to monetize the oil in the ground. This alone adds tremendous value to the currency and makes a revalue at a high price more likely. 2. 86 cents. people support this rate get this rate from today’s value. One Iraqi dinar equals 0.000855473. us Dollar. Knock off three zeros and you round to the nearest number and you get 86 cents In June of 2010 CBI said they are going to redenominated and remove three zeros from the currency. They did not mean they will take three zeros from the value. They meant that once the currency revalues they will remove the currencies with 3 zeros (25,000 and 10,000 notes) from circulation. And introduce lower denominations. 3 $1.20 to $1.70 People who believe this rate are looking at Iraq’s budget. Iraq needs a minimum of $1.20 to meet budget demands. This is from the 2009 year budget. $1.70 could be what is needed for the 2010 budget. The problem here is that no one has seen the 2010 budget and 2010 is almost over. So who knows what is going on behind closed doors? One thing is for sure though. If Iraq needs a currency that reflects their budget they cannot go any lower than $1.20 per dinar 4. $2.50. People who believe this will be the rate look at the value of the dinar before Saddam changed it to $3.22 Even though Saddam changed the rate it still traded globally for $2.50. The IMF and the global community said he could not change the rate. He changed it anyway However, the dinar was based on oil back then as well, and oil at that time traded between $15.00 to $25.00 a barrel. Oil is much higher now. 5. $3.22. People who support this rate point out that this was the official rate before sanctions were placed on Iraq for invading Kuwait. If they were to reinstitute the rate (RI) this would be it. They point to future contracts Iraq has for rebuilding infrastructure. All the combine contracts support a rate over $3.00. I will admit I don’t know enough about their research to comment on this. It may be a rumor. It is important to look at the time frame of these contracts and not just the dollar amount. If the contract is spread over 3 years then that dollar amount is divided by three consecutive budgets. This throws the numbers way off. The truth is no one knows enough to confirm or deny this theory. I have not seen any data yet. 6. $3.86 People who believe this rate believe that there will be an RI and a RV. Frank pointed out, The CBI at one point said the rate will be 3.22 plus 20 percent. I don’t know what document or research he has to confirm this. But he is adamant about it. This is what he believes. To tell you the truth I hope he is right. I don’t know where he gets his information. I am not going to say if he is right or wrong because I just don’t know. 7. $4.00 and over. This rate has just recently surfaced. The main supporters of this rate are the same people who predict an RV every weekend. I would not put much stock in this rate. I believe it is nothing more than wishful thinking and fantasy. There are no documents to my knowledge that even support a rate like this. As you can see speculation is all over the map on what the rate will be. The debate is intense. The funny thing is no one really knows what the rate will be. I remember reading an article over the summer that said Kuwait demanded a rate that was at least 3.40. The reason for this is to match Kuwait’s dinar rate. All of the OPEC currencies are over $3.00. If Iraq undercuts this rate it will have an impact on the entire region. A floating rate has also been suggested. Basically the rate is introduce at lets say $1.75. and then it floats up to over $3.00. There has to be balance no matter what the rate is. If they release a rate that is to low then they will not achieve their goal of removing all the currency with three zeros by the end of the year. To high a rate could make it hard to trade the currency on an international basis. I personally believe that the rate could be anywhere from $1.20 up to $4.00 Like everyone else I just don’t know for sure. It could be any ones guess. What about the lop? Basically this rumor has been floating around for two years. In 2008 it was mentioned in an article, and it has been circulating ever since. A lop is defined as taking currencies of high denominations and removing the zeros at the end thus reducing the value of that currency. For example, by removing three zeros from the 25,000 dinar note it is now valued at 25 dinars. There are several reasons why I believe a lop will not take place at the revalue. First a lop only happens when a country’s currency and economy are in ruins. Typically it is used on fiat currencies after hyper inflation kicks in. Second Iraq is not removing all the old currencies from circulation. Only the 25,000 and the 10,000 will be removed. If they were going to lop and introduce new currencies they would need to replace all the old currencies. Not just the high denominations. This is part of the pre post RV scenario that lop preachers preach. Third Iraq itself has said It will not lop off the zeros from the currency, and the old currency will retain it’s value along with the new lower denominations. The CBI has stated that the reason for the lower denominations was so Iraqi citizens would carry less money. Here is the latest article from AKnews Zeros Will Not be Removed from Iraqi Currency Posted on 24 August 2010. Tags: forex, iraqi dinar, re-basing There has been much speculation in recent months that the Iraqi dinar would be re-based, knocking off the last three zeros. The latest news is that Iraq will not in fact remove the zeros from its currency, because it will not resolve inflation and will create opportunities for corruption, reports AKnews, citing a senior source in Iraq’s ministry of finance and economics. The Iraqi dinar was largely devalued after Iraq’s invasion of Kuwait in 1991 and the imposition of international sanctions on the country. While before 1991, one Iraqi Dinar was equal to around $3, now $1 is worth roughly 1170 Dinars, according to Iraqi Central Bank’s exchange rates. Some experts have suggested that removing the zeros will enhance the country’s currency and allow it to better tackle inflation. “The Central Bank wanted to remove the zeros three years ago, we alleged that it was impossible. They wanted to do it again last year and we rejected the proposal again. The issue is currently brought up once again, but the Ministry of Finance and Economics insists that Zeros will remain,” said Fazil Nabi, the deputy minister of finance and economics. Nabi said removing the zeros will not reduce the inflation rates as Iraq’s inflation has been stable and remained low for quite some time. “Besides, it will create problems for many citizens because it takes time for them to learn to use the new currency,” he said. Nabi also stated that certain people will be harmed by removing the zeros because their salaries will decrease while it is unlikely that the price of goods in the markets would decrease. It is not clear to IBN how the minister came to this conclusion. (Source: AKnews) http://www.iraq-businessnews.com/2010/08/24/zeros-will-not-be-removed-from-iraqi-currency/ Forth, Iraq was forgiven massive debt from all over the world. These countries hold Iraqi dinar. For example, china holds dinar( mainly the 25,000 and 10,000 notes) china forgave Iraq 80 billion dollars. They did not do this to watch Iraq delete the value of the zeros from the notes they hold. There are several nations that are in the same position china is in. There are more reasons why I believe Iraq will not lop, but at this point I think you can see the evidence that the lop will not take place. http://***********.wordpress.com/

sorry pleasantvalley for the mishap between us two---however, I was not trying to be negative as you took it. I was really asking questions and was hoping that someone could give me some good legit answers......when you posted back to me----I just took it as you were trying to down play me and maybe I should have not took it that way. Again, sorry for our mishap and hope things will be better now---Have a great evening.

thanks---it is the truth

I see some issues here with these non called for post---pleasantvalley, no one is being negative--just wanting this to happen. You need to change your name by the way to fit you Thanks Laura--you put it in a nice way-----a whole lot better than unpleasantvalley did. Thanks for your professionlism

What happened with the plane loads of dinar that were suppose to be at Baghdad Airport? What happened with the lastest dates on the RV? What happened to the gov't that was suppose to have been formed numerous times? What happened, What happened with ????, etc.

if it is in his will---then he can do that------but remember, you have to give to people who need it----this means giving some money away---can any of us really do that?