Networth

How delusional can people be? THEY'VE SAID, REPEATEDLY, THEY ARE GOING TO LOP! This isn't the first time. Call it a redenomination with a corresponding revaluation if you want but, for all intents and purposes, it is a lop! I know that not what people want to hear but you won't change the outcome by denying it. Those that refuse to acknowledge what the CBI have said are simply delusional. The only reason not to believe them is if you think they are lying. I see no purpose in lying so many times about their intentions. People can spin it all they want but they are simply exhibiting cognitive dissonance.

You can buy dozens of currencies from around the world right now, not just the dinar. You have the potential of making or losing money on every single one of them. Many people have. George Soros made billions betting against the British pound sterling in the early 1990s. Others have lost fortunes. The fact that it is a legal investment has nothing to do with whether you make money. It simply provides assurance that you won't go to jail for purchasing it. People have made lots of worthless and useless investments through the years. It is not a validation or repudiation of the investment. My stockbroker would gladly sell me stock in bad companies if I wanted to buy them (he already has). Don't blame the dealers if this investment turns out bad. They are simply providing a product that you made the decision to buy. If there is demand for a product, somebody will find a way to provide it, regardless of whether it is a good or bad purchase. You are delusional if you think the US/UN won't allow a redenomination to happen. It is not their decision to make. Iraq is an independent, sovereign nation. They will do what is in THEIR best interest, not yours. The US cannot and will not do anything about it. If people weren't so blinded by the emotion of making millions on this investment, they would realize that a redenomination is what Iraq has been saying it is going to do for a long, long time. But you can't break through the wall of irrationality when people get so emotional about something.

Actually no, it's not like that at all. Purchasing power does not change after a redenomination. Five dinars after redenomination will buy the same thing as 5,000 dinars before redenomination. A Coke that cost 1,000 dinar before redenomination will cost 1 dinar after redenomination. Wealth and purchasing power has not changed. If 1,000,000 dinar is worth 800 US dollars before redenomination, then 1,000 dinar is worth 800 US dollars after redenomination. It shouldn't be a surprise to anyone. The CBI has repeatedly said for years they intend to redenominate. It was only the supposed gurus that were telling people it would never lop. They figured if they said it forcefully and with conviction that it must be true. Well, it's not true. The dinar is going to redenominate. There will be a corresponding revaluation that maintains the purchasing power of the new currency and the current value of your dinar is not likely going to go down. Your best opportunity to make money on the dinar is by Iraq doing the right things to increase the GDP of their economy. It still has potential, like any other foreign currency, to make you money. But it's going to be a long term prospect that may return 10-15% over several years. Anybody that bought the hype of a 3,000% return was just a fool. That was NEVER going to happen, despite the insistence of all hypsters.

What announcements are you talking about? I hope you're not talking about the "announcements" that other posters claim have been made lately. Those shouldn't be considered announcements made by the CBI. Those are loose interpretations or outright lies. If you don't see it on the official CBI website, don't consider it an announcement. When (and if) the dinar re-values, you have many sources. You don't need to buy an alert from anyone. The CBI's own site will display it. In addition, there are dozens of FOREX sites and banks that can confirm a rate for you. It takes just seconds.

I think Delta is my old stockbroker. He recommended a "slam dunk" stock to me. After taking a 30% loss he still didn't admit he was wrong. He said he was just "early". But the loss I took was my fault. I listened to him and didn't do my own research. There was no second time. He lost all credibility with me. How many times does Delta, or Frank, or Okie, or another site, or BondLady or the folks over at PTR have to be wrong before they lose credibility? Apparently, some people are so desperate for this RV to occur they will never lose credibility. They want to listen to the happy talk and of the visions of riches they will have regardless of the emotional or financial cost to their lives. It's incredibly unhealthy. I'm genuinely sad for the people that are having their heartstrings tugged so irresponsibly.

Based on what? I have not found a single piece of information that states this. I have only seen this assertion made by other posters. That's evidence of nothing. And it seems like a dubious statement to make since $150,000,000 worth of dinar are auctioned every day by the CBI.

What's the matter with you? Only new posters with positive, pro-RV messages are accepted here. Anything negative is dismissed. Try it. Create a new user ID, post some positive rumor and watch how the love flows.

I'll have to believe you on the sanctions. Many people claimed it was very significant in December when most of these sanctions were lifted. Yet that didn't result in an RV. If the remaining sanctions are to be lifted on June 30th, I don't know why that means the dinar will RV. I'm not denying that is a significant date (if sanctions, indeed, are completely removed on that date). No country should have their trade artifically restricted. But I don't know why everybody assumes it has anything to do with the dinar. Hundreds of companies are doing business in Iraq already and it has not been necessary to RV the dinar. Why would it suddenly need to be revalued if sanctions are lifted? Seems like a dubious connection to me.

Why are you bragging abut this? As long as there are people like you promoting this as a get rich quick scheme, why should they ever RV? As long as they can literally get something for nothing (almost nothing at least, it does cost a little to produce the notes) why should they stop doing what they're doing? They'll accept your US currency that has diverse and multiple uses for as long as you're willing to give it to them. They'd be foolish to RV. They'll give you colorful pieces of paper for your US dollars as long as you let them.

You're correct. This is hardly an isolated occurence. This is a consistent, perpetual claim. The names of the characters occassionally change but, otherwise, it's always the same. I'll bet you could go back years and find these ridiculous "imminent" claims being made every single week. It has been true for as long as I've owned dinar (nearly 12 months). It certainly leads you to believe that the whole assumption is fraudulent. Obviously, not a single prognosticator has a credible, reliable source. They can't possibly. The only logical conclusion you can draw is that they have no source. They have no clue what is going on. So what is the incentive to repeatedly make such preposterous claims? I'll bet it's as simple as money. It usually is. The anonymity of the internet gives them an incredibly powerful persona. The risk of personal embarassment or humilation is a strong incentive not to lie to people. However, when you can remain unknown and undetected, the moral opposition to lying can be overcome with sufficient financial incentives. Without a doubt there are paid liars that populate these sites for the express purpose of promoting the dinar. Their incentive is not just to get people to buy dinar but also to continue to HOLD their dinar. If people refuse to sell their dinar, they are losing 100% of their investment which means somebody else is literally getting their money for NOTHING. The dinar is worthless to the US investor. It can't buy a soda. It has to be converted back to dollars first. As long as people refuse to sell their dinar, somebody else has full use of the dollars that were used to trade for the dinar. This whole notion of an RV could easily be a fraud intended to separate people from their dollars for as long as they possibly can. As I've said previously, I have already sold 1/3 of my original dinar purchase. I have 2 more dates in the future that I am targeting. As those dates come and go (with no RV) the balance of my dinars will be sold. I will take my 30% loss on the sales, lick my wounds, and learn my lesson. But that's far better than th 100% loss that many people here seem determined to take.

Why do you assume that the dinar has to RV? Everybody assumes the dinar HAS to RV. But that's dubious. There is plenty of information out there to suggest the dinar may never RV. I think you should question your assumptions and your expectations. This RV (if there is an RV) is not about you. By the way, you are correct about Maliki. He has stated repeatedly that he has no intention of running for re-election.

It's interesting that someone who posts an unfavorable rumor or prediction about the RV is given so many negative scores and is criticized for not revealing his sources. Yet someone could post a favorable rumor without revealing his sources and would receive overwhelmingly positive scores. It reveals just how emotional this investment is for far too many people. That's not good. People make irrational decisions when they are emotional. It leads me to believe the IQD and the anticipated RV is really nothing but a hyped up mania. Some very interprising people are milking this emotion and desperation for all they can. It's remarkably similar to other assets bubbles. The intensity and desperation is expanding the bubble. But, eventually, the laws of foreign exchange and currency reserves pops the bubble and people realize that it was nothing but an emotional mania. Like most asset bubbles, a lot of people do indeed get rich. But it's not the people buying the assets. It's the people selling or servicing the "promise" of the asset. The people holding the assets at the end are the suckers.

My oh my! Such a temper! Talk about arrogance! You think the dinar is about YOU? You think this whole investment revolves around you? Such folly. This isn't about you. It has never been about you. Iraq has no obligation to ensure you make money on the dinar. If you made a bad investment or an investment you now regret, that is entirely your fault! Nobody promised you anything in this deal. You were obviously naive and unrealistic. We're supposed to be adults but you're throwing a tantrum like a spoiled little kid. Perhaps the best solution is to sell your dinar and get out. Obviously you can't handle something that isn't dedicated entirely to you.

Don't get hyped up over something that has occurred several times in the past. Nobody has any idea why currency auction data has not been posted. Whatever the reason, it is not that unusual. To relate it to an RV is nothing but wishful thinking. Keep your dollars in your pockets.

What's the annual return on that investment? If they've doubled their money that's about a 10% annual return. Not bad but what would they have received invested somewhere else? It's hard to know. But every year they continue to hold the dinar with no change, the lower the annual return they receive. At some point, everyone should determine that they have maximized their return (or minimized their loss) on this investment. Then they should sell. It makes no sense to hold them beyond that point. Their dinars serve no other purpose. You can not buy food or gas with them. You can not buy other US investments with them. Never selling is very foolish. It guarantees 100% loss of principal.

It's amazing to see such a uniform response from everyone. "Never give up" seems to be the mantra. Why? It has nothing to do with giving up. It has to do with smart investing. This is an investment, not a lottery ticket! Most people don't invest in stocks or bonds never expecting to sell. There is always a time when it makes sense to sell. If you believe you've reach the maximum potential return on an investment, you should sell. Otherwise, you lose opportunity costs every day. The US dollar is still the medium of exchange in the US. You need dollars to transact business. If you saw a good opportunity to invest in something else, you would be foolish to maintain your investment in the dinar. The dinar is far from certain. It is not guaranteed. Everday that you tie up a currency you can use (the US dollar) for other things represents a lost opportunity. Those of you that say you will NEVER sell your dinar under any circumstance may be guaranteeing that you lose 100% of your investment. That is foolish. Personally, I trimmed back a portion of my dinar position in the middle of January. Once the overwhelming excitement turned into nothing but ridiculous hype, I seriously started questioning the validity of this investment. I rolled the cash from my sale into another stock and have made some money on it. I still haven't recovered the loss I took selling it back but my total investment today is worth more than it would be had I stayed in the dinar. I have 2 more dates in the future that I plan to sell the rest of my dinar if nothing has happened by then. And, I'm not terribly optimistic (but I hope I'm wrong).

GET Team? C'mon man! Those clowns have been declaring an RV for 18 months. They have absolutely NO credibility! None. I wish some enterprising and ambitious investigator could figure out how much they get paid and who pay them. I'll bet it would lead to a dinar sales house or wealth planning firm. Where ever it comes from, they have cost a lot of people a lot of money with their hysterical hype about the dinar and the imminent RV. Those boys have cried wolf for far too long for anybody to believe a word they say.

Oh, come on. The troops in Iraq have absolutely no clue what is going on with the dinar. It's not a slam on the soldiers. There's just no way they are going to know anything. Even the high ranking officers and civilians have no clue. If there was even information to be "known", they (like us) are so far down the food chain, there's no way this information would get to them before it gets to everyone. No possible way. We have them on this site and they will tell you that! I'm sorry to be so critical of your very first post but we don't need a "a friend of a friend" to confirm or deny anything. It is of absolutely no value to hear this. I don't why people feel compelled to post this type of information (especially if they aren't pumpers). It serves absoutely no purpose.

Hmmm. OK I'll ruin the fun. Where to start? 1. True, but irrelevant. All currency is real money in the country it was issued. 2. True, but irrelevant. All central banks sell currency. 3. False. There is no possible way to know if it will revalue. The grand assumption is it will revalue. But it is NOTHING but an assumption. 4. Unknown. Depends truly on your definition of "stabilizing". Sectarian and religous violence persist throughout the country. Corruption, graft and greed persist in the gov't. However, the economy is growing and investment in Iraq is increasing. 5. Purely conditional. There are many things that might make more sense for people to spend their money on. It depends entirely on individual circumstances. 6. False. George Bush did not say this. He only implied this. His implication could be interpreted many different ways. He could have meant it will pay for itself by inspiring and ushering in an era of democratic gov'ts throughout the middle east. This could pay for itself by reducing our military presence or preventing future military conflicts that we may become involved with. This could reduce the security premium we pay on oil. The "pay" could be referring to many non-financial benefits we could receive. 7. False. Maliki NEVER said it will RV. No leader would say such a thing about their currency. Please provide a link. This rumor has been circulating so long everybody believes it to be true. It is not. 8. False. There is no possible way of knowing if our gov't holds dinar. But they probably do. They own lots of foreign currencies. If they do, it is not for investment purposes. Gov'ts and central banks do not own currency to generate gains. They own currency to balance current account deficits and to affect the value of their own currency. 9. False. The value of the dinar is completely irrelevant to the ability of the country to provide rule of law and present justice. The dinar has the same approximate value to the US dollar as the South Korean won. South Korea is the 11th largest economy in the world and a very stable country. On the flip side, the value of our currency has fallen 97% in the last 97 years yet we have survived. There is no point in misrepresenting this investment. All that matters is that you are comfortable with it. The only reaosn you would feel compelled to convince others that it is a good a investment is if you don't feel compfortable with it and you want to justify your own behavior by getting others to do the same thing. But convincing lots of the other people to invest in the dinar does not change the fundamentals of this investment. It just makes YOU feel better. It's a purely selfish exercise.

Take your tinfoil hat off for a few minutes. Everything is not a big conspiracy. There is nothing magical or critical about June 30th or chapter 7. There are only dubious assertions by uninformed and misleading posters in this forum. Sadr will continue to lurk regardless of the situation in Iraq. The UN is feckless and toothless. It will not be forced to do anything. It will not do anything regardless of the situation. Only the US can intervene and affect the situation on the ground. But we will NOT. There is no will or apetite, by the gov't or the citizens in the US, for a re-engagement in hostilities. If Iraq fails to form its gov't or stabilize it's country by the end of June it means nothing. There is absolutely nothing crucial about June 30th. It is only crucial to you because you're tired of waiting. But this RV has absolutely nothing to do with you. It took our country 13 years to convene our first session of congress after we declared our independence from Great Britain. We failed several times and were on the brink of failure several more times. Iraq may eventually get it right. Or they may not. But there is no time limit. And it certainly isn't June 30th.

The article is good information and should bring alarm to anyone who reads it. However, in your sub-title you're suggesting this is creating urgency for the dinar. That is simply not true. Central banks don't hold foreign currencies to generate income. They hold them to control the value of their currency relative to other currencies around the world. Currency reserves influence monetary policy, not fiscal policy. Our debt is a fiscal problem. Our social security recipients and medicare providers do not want to be paid in swiss francs or reminbi. They want US dollars. The revaluation of the dinar (or any currency) will not affect our fiscal crisis one bit.

Completely untrue. Redenomination effects nothing. It is completely neutral. Converting 25,000 dinar to 25 dinar affects nothing. The prices of all items priced in that currency (in that country) is adjusted accordingly. A can of pop that cost 1,000 dinar before the redonomination will cost 1 dinar after redenomination. There has been absolutely no change in purchasing power. Obviously, a redonomination also requires a revalue. If the current value of the currency is fixed, (that is, it's artificially set by the central bank) the revalue would be proportional to the redenomination. If 1 dollars equals 1,170 dinar right now and the central bank redenominates the currency by "raising the zeros", then post RD, 1 dollar would equal 1.17 dinars. In this case, the purchasing power of the dinar has not changed and the purchasing power of the dollar has not changed. The value of the currency relative to other currencies has changed but the purchasing power has not. It's very easy to understand. It's very common. And it's very likely to occur. I think it is the most likely outcome in this investment.

Oh Lord. Money supply has no bearing on the budget at all! None! We have a 3.5 trillion dollar budget in the US and only about 2 trillion in actual printed currency. In addition, their budget would change proportionally with the redonomination of their currency. If 1000 dinar suddenly becomes 1 dinar but that 1 dinar buys the same as a 1000 dinar used to buy, the budget will be reduced by a factor of 1000. A 100 trillion dinar budget suddenly becomes a 100 billion dinar budget. No change. In addition, their budget is in US dollars! Econ 101 for you. Why do some people insist on just ignoring ACTUAL statements from GOI officials? Saleh said there would be no change in purchasing power when they raise the zeros! That means, no matter what they do, the value of your investment (whether it's valued in IQD or USD) won't change after they "raise the zeros". You can't get much clearer than that. I suppose you could conclude he is being deceptive to perpetuate some grand conspiracy (for some reason, many of those conspiracies run rampant on this site). I understand that some people don't WANT it to be true but our collective wants don't change a thing. We can't want it away. It makes sense.

Spot on! I joke with my friends that there must be a magic coating on every dinar. It seems like as soon as people touch one, they go into a trance and believe that it will be worth millions.

So there's a big clue. Reads exactly like a LOP to me. If there is no change in purchasing power, it is a break even deal (less any fees associated with converting the currency). It makes perfect sense this is what they would do.