hopefullbk

Thanks Keep. This has been the biggest rumor that has kept the fire burning for the pumpers. there is no way the US can hide this kind of assett if it were to be true. Having trillions of dinar would have to be somewhere on the books. Anyway, I appreciate the info, it only confirms what many have suspected for a long time.

The only issue with Oil and Gas is they are traded world wide in USD. From Iraqs position, with exception of natural resources, they will be a HUGE importer. From an importing perspective, they would be smart to have a currecy with a higer value obviously.......But the bottom line is its just not a requirement. Who knows right?

The would need to be tradable but that is not to say it needs to increase in value. The only SUGGESTION the WTO has made is for Iraq to close the gap in the value of the dinar to the USD. It was just a suggestion. Additionally, if they were to agree and increase the value, it doesnt say how much they would need to close that gap by..... 1 cent? 1/2 a penny? $2? Nowhere does is say an amount. If you look at their membership list, there are several countries that are members with a currency that has little value as compared to the USD. Lastly, just because a currency becomes tradable, it doesnt mean it will go up in value. They can preset the value and use a managed or dirty float to control the fluctuation. (and yes, I've heard all the arguments that big $ would eat them up if they came out low. IMO, big money is already in) Now, if you have a baseline understanding of the economics of importing and exporting, logically one would think they would want a higher valued currency since their import needs are so heavy in comparison to their export ability. An no, Im not talking about oil as an export. Thats irrelavent as oil is traded in USD. Anyway, take a look at current list of WTO members and you will see, they could become a member today without changing a thing in currency value.

It was a very different situation. Do a bing or google search on "history of the Kuwait dinar" and you will get more info than you will want to read. I will spell out a brief summary for you. First, It was a re instatement, not a revaluation. I know they sound similar but they are in fact very different. Second, they had to do the re instatement because when they were invaded by Saddam and his thugs, Iraq stole the printing plates Kuwait used to print their currency. Needless to say, that left Kuwait with a high exposure to counterfeiting from Iraq. With regard to advancements in security features on currency, Kuwait was actually on the cutting edge with their new currency. They were responsible for tremendous advancements in currency security. Third, the value of their currency never dropped as much as some seem to infer on dinar forums. There was an opportunity for folks to make some money if they moved very quickly but it never soared to $7-$9 value others seem to talk about. Lastly, previous to Iraqs invasion of kuwait, they had a stable government, well documented GDP and an established economy. So there wasnt the big guessing game relative to what the actual currency value could handle from an economic standpoint. They knew what it was worth, Iraq doesnt have that recent historical luxery. Anyway, as you can see, it was a very different situation done for very different needs. I would encourage you to search what I mentioned above. It will take you about 15 minutes tops to get a good understanding of the Kuwait RI. In my opinion, its not really a good comparison for us with Iraq. Hope that helps.

You are correct in what you read. However, the documents are vague in how much they would need to improve relative to the dollar. Just 2/10 of a penny? .30 cents? Its very vague. Its also important to note, each potential WTO members acession to membership is unique to that country. In other words, each counrty is considered for membership on its own economic situation. Its not a uniform process. Debt is a big factor, a big RV # may actually hurt Iraq in their WTO endevour. Lastly, the WTO has a classification of membership thats defined as "under priveledged". Right now, Iraq is classified as an "observer". I know I will get blasted for saying this but Im more in line with your opinion on rates than I am with the $3 plus folks. With that said, I can see where Iraq may do a very small, dirty float RV and become and Under priveledged member. Just my opinon but the fact is, they dont have to be at or above 1USD to become a member. Like you, I'm just trying to keep it real. Heres what youre referring too I think. A member from the other site, Eagle has landed, dug this up. Kudos to him for sure. Iraq needs to be a member of WTO Posted on 13 April 2010. Tags: WTO “Iraq needs a new study for its economic system to be a member in the World Trade Organization (WTO),” an official in the Iraqi Finance Ministry said today. ”The Iraqi committee gave its final results about the Iraqi acquisition of the membership in the World Trade,” The Economic Advisor in the Finance Ministry, Abdul Alim Kadhim, told The Independent National News Agency of Kurdistan (AK news) “The Committee called for reducing the difference between the U.S. dollar and the Iraqi dinar, activate the role of the private sector, open the world markets in Iraq with customs on imported goods that commensurate with the economic laws applied in the country,” he added.The Iraqi team to annex Iraq to the WTO was formed on December 13, 2004, and it presented a memorandum to join the organization on September 16, 2005. Iraq became an observer in the WTO on January 24, 2007, and the meetings of the first round of the Working Group began in 2007, followed by a second round in 2008, and the third and last round was in 2009. ”The organization called Iraq to pay half of its debts, in order to be a member in the WTO which will improve the economic and commercial situation in the country,” Kadhim pointed out. He stressed on the need of improving the Iraqi economy according to modern economic frameworks found at the present time among the economically developed countries. The World Trade Organization WTO was formed according to Bretton Woods convection at the end of 1944 in the United States, accompanied by the formation of the International Monetary Fund and the World Bank. It includes approximately 150 countries and has several functions that aim to remove the distortions found in the trade patterns between the States and the establishment of multilateral trading system more stable and more opened and has the ability to predict, in addition to addressing the customs and non customs barriers, as well as addressing the communication problems, building services, and address the matters pertaining to the international investment, and resolve the international trade disputes. It also aims to expand the exchange of goods through the reduction of customs and opening world markets for goods and services (except oil). Iraqi Business News April 13, 2010 LINK

It could. They certainly would be playing in the import/export business from a postion of weakness if it stays low, but it could. the bottom line is Iraq will do what is good for Iraq, not for the WTO, other countries or us investors. Btw, the only real exporting Iraq will do is in the natural resource sector, which is traded globally in USD. Their import needs are an important piece of this puzzle that noone seems to discuss. When you consider they will need to import almost everything to meet their development needs, the current value of their currency leaves them in a horrible position of weakness. Think China. They want to keep theirs low because the export, that gives them an edge. When importing, you want a high value currency. the only point Im trying to make clear is that to be in the WTO it does NOT needs to revalue. I read that all the time in these forums and its simply not factual. Vietnam is certainly a blueprint Iraq could choose as an option. Is it likely? No in my opinion. But its an option for them, no question about it. Theres actually a few threads of discussion on this topic going on at that other site you dont like (I think you know which one that is). If you still have access there, go give them a read. A lot of good factual links posted. I dont want to cut and paste over here and steal someones good work.

Hey Keep, you're off on this one. Iraq can be a junior (for lack of my memory of the actual term) member, currency value has nothing to do with it. They can be a member with the current value of their currency. I was responding specifically to the point that to be a member of the WTO, your currency has to have a value. Iraq can keep the value where its at, keep it in a managed or dirty float status, tradeable and become a member of the WTO. Their currency doesnt have to increase in value to become a member. That was just a false statement.

Explain how Vietnam is a WTO member then? Their currency is almost worthless.

I rarely comment on bank threads and Im not commenting to bash the poster, or anyone else for that matter. But does anyone really think they are going to call a currency dept, ask questions about a currency that isnt currently tradeable and expect some sort of response other than what everyone gets? What are they going to say.....Oh yes, we will be trading that currency soon as we expect it to be tradeable soon....and by the way Shhhhh, dont tell anyone but we think its going to go up in value too..... To assume they would know anything about it is not a safe bet either. Im just sayin.

Some folks will choose to use a bank to cash in a little to get them by until they can get to a Dinar trade location. Some may choose to do the whole transaction with their bank. If in fact it were to RV, its somewhat reasonable if you were a bank to think there may be a need to have some cash on hand. The most you can get from your bank I think is in the area of 5k without setting up an appointment to cash in more. Anyway, some folks will use banks and the speculation is that some of those folks will want some cash in hand and the rest deposited into their account. The rest could be done elsewhere for a lesser spread cost,

I have an opinion about this investment most folks dont want to hear so I refrain from stating it. My persoanl opinion aside, while the author of the email does make some interesting points, it appears to be his opinion. What leads me to beleive that is if in fact the author is indeed from the middle east, how could his facts about Kuwait be so incorrect? When I first became involved in this investment, I saw and read many posts that referred to the Kuwait "RV" and GDP history as one of the primary reasons Iraq needed to come RV at a similar rate to the KWD. Subsequently, I took about a 1/2 an hour of my time and simply did some research. Needless to say, there was so much info available, I spent hours studying it. (I have a weakness for history) I would encourage all of you to take 15 minutes of your time and do a bing or a google search on the "history of the Kuwait dinar" and the "history of Kuwait oil production". Trust me, you all spend much more time posting opinions on threads than it will take for you to get the REAL Kuwait facts. My point is the author of this email is so far off relative to his/her comments about Kuwait, its hard to take anything else stated in this email as anything other than opinion. Sorry if I'm sounding like a parent, but if you take just 15 minutes and read about Kuwait, you will see what I'm talking about. Be sure to look for the graphs of historical value changes in the KWD and the authors comments about Kuwaits historical value of their currency will stick out like a sore thumb. Just the fact that the author of this emal calls the Kuwait situation an RV and not what it actually was, an RI, should let you know its nothing more than an opinion piece. Not as much fact as the author would lead you to believe.

Depending on how it turns out, logically one may be able to assume that the Egyptian situation could be helpful. Even though Egypt has been run by a dictator for 30 plus years, they have been a very influential partner to the USA in middle eastern affairs, especially regarding Isrial. Anyway, if the muslim brotherhood is successful in overthrowing the Egyptian government, needless to say the USA would be losing a valuable partner in the Middle East. With that said, one could infer that a change like this would spur the USA into advancing other relationships in the middle east at a much faster pace. the USA does have a working relationship with Iraq now, but I could imagine the USA could potentially become more impatient with Iraq in terms of reaching governmental stability. If Egypt falls into less friendlier hands, the USA will need a very strong friend from a geopolitical standpoint asap. Iraq could be just that friend. I dont think that the RV would be as much of a part of the terms of our new found friendship as us investors would hope. But Iraq would be crucial to USA politically if egypt were to fall. An RV may be forced to happen sooner as a part of the USA's effort in a regional presence. Anyway, I hope that makes sense. I'm just thinking outside of the box. Who knows right?

its always been on forex, unclassified but its been there. its still not tradeable. but updating like it is. Strange but true. Not rumor, not speculation, you can see it with your own eyes. Anyway, not sure what if anything it means. Iraq just initiated a change for some reason.

You are correct about Joe P. I disagree with you about you generalization of other PD folks, but thats your opinion and I respect that. What I'm glad you pointed out for some of the new folks is that when it comes to forex, Joe P knows his stuff. Thanks for your post, youre comments will help a lot of new folks follow the "good" ones.

The problem is that noone knows. A lot of folks say the CBI has to post it first. Think about this logically, why would the cbi post it first, giving even a few hours notice on the CBI website would leave them exposed fiscally. We have NO BLUEPRINT for how something like this is going to roll out. All we can do is watch. The forex change this week is a Dirty Float in my opinion.