wusObie

He is a guy who posts really great info and has links to back it up. He is EXTREMELY well versed on the Dinar. He has provided more information than anyone else on this site. That's all that matters to me. This site allows all of us anonymity. So, I am not one who wants to delve into his personal life or any other member's private life for that matter. If you want to know more about him, then just ask him about himself the next time he's in chat.

Possum, is this source one of the numerous voices in your head??? It's been a while since you shared the "intel" from those special voices you hear.

I know Pam. That was my point. It shows that this rumor is old. Period. What is also says is that "removing zeroes" is not a lop. It's giving Dinar parity with Dollar.

It seems this article about removing zeroes has been viral on the web for the past 3 years. Below is a copy of Reuters India circa 2007 where the cbi addresses removing zeroes issue. Note that alot of the wording is very similar to the articles being posted today about removing zeroes. Iraq central bank denies dinar revaluation plan Thu Dec 13, 2007 5:22pm IST Email | Print | Share | Single Page [-] Text [+] BAGHDAD, Dec 13 (Reuters) - Iraq's central bank denied on Thursday a plan to quickly revalue the dinar, saying a rumour had been spread by speculators. The Iraqi dinar has been gaining value slowly for months after the government announced a plan to gradually raise the exchange rate, now officially 1,210 to the U.S. dollar. But the past week has seen the rate on Iraq's streets climb suddenly as high as 1,080. Rumours spread through Baghdad that the government was planning to suddenly move the official rate to 1,000 and perhaps remove three zeros to achieve 1:1 parity with the dollar. "An authorised source at the Central Bank of Iraq denies rumours that claimed the bank wished to value the dollar at 1,000 Dinars, or less or more, or change the currency denominations, or remove the zeros from the present currency," the central bank said in a statement. "The Central Bank is following the phenomenon of less demand for the dollar closely," it said. "Information or widespread rumours like this are designed to allow very quick trading benefits for some at the expense of the people." (Baghdad newsroom; writing by Peter Graff) http://in.reuters.com/article/asiaCompanyAndMarkets/idINL1330207420071213

Phoenix always has seemed to be extremely well versed on the subject of the IQD. I am happy that he has taken the time to shed some light on the history of our investment as well as what the future may hold.

Pretty funny!!!

Muhammad, Interesting Observation. I am wondering in these ATM's have built in coin dispensers as the cbi website shows coins that are to be released. Does anyone know the answer to this???

It appears in this statement that Iraq is trying to distinguish itself from Turkey. Here is what Turkey did (source is Wikipedia): Because of the chronic inflation experienced in Turkey from the 1970s through to the 1990s, the lira experienced severe depreciation in value. Turkey has had high inflation rates compared to developed countries but has never suffered hyperinflation. From an average of 9 lira per U.S. dollar in the late 1960s, the currency came to trade at approximately 1.65 million lira per U.S. dollar in late 2001. This represented an average inflation of about 38% per year. 1966

I totally agree with you. Makes no sense at all. Adam did say that there would be false news out there prior to the RV. This is likely an example of that.

Yes, I had a dealer ask for my social security number when I ordered Dinar about 5 months. They claimed that if you order a certain amount of Middle Eastern currency, then they need your ss# due to the Patriot Act. The odd thing was that although they advised that they needed my ss# when I placed the order, they forgot to get the ss# when I picked it up. But, they did look at by Driver's License.

Excellent find. I found the following statement of interest: "He said in a press statement that the bank has been following with great interest the phenomenon of low demand for the dollar in the local exchange markets, stressing that such information or rumors surrounding the aim of achieving commercial gain emergency for some users at the expense of the public. " It seems to me that Iraq is laying foundation to be compared to Euro's value instead of USD. Plus, the demand for dollar is down bc recent laws requiring Dinars (not dollars) be used locally!

One of yesterday's articles stated the following: The Iraqi Central Bank is working on a strategy to delete the zeroes of the Iraqi currency in and out of their face value while maintaining the values of cash and purchasing power. This tells you that each note will keep it's independent value. 25,000 will still be 25,0000 even while a 50 note is circulating.

You bring up a very interesting point. I think we all have been focused on how this will impact our investment. But, your post contemplates how this will impact the big time investors in Iraq. One more reason this can't be a lop is because Iraq would be short changing all those contractors that it has paid in Dinars (as US dollars have been phased out.) I might add that Medic has always stated that the RV will occur once the lower denominations are in circulation.

Kent, Ali is not giving preference to past customers. He is treating each Dinar holder on a first come first serve basis.

That's how Chase bank does business. They always have some system down. Nothing to read into (unfortunately)

Some are interpreting this thread as meaning it passed. I'm not so sure. Link http://translate.google.com/translat...8%252007:54:01 كنا: من الضروري ان يتم التوافق على قانون موحد للنفط والغاز We have: it is necessary to reach mutual agreement on a uniform law for the oil and gas ربط نائب رئيس اللجنة الاقتصادية في مجلس النواب يونادم كنا المصادقة على قانون النفط والغاز ، بحل الخلافات القائمة بين الحكومة المركزية وحكومة اقليم كردستان العراق حول عقود النفط . Linked to the Vice-President of the Economic Committee in the House of Representatives Yonadam Kanna, we approve the oil and gas law, the resolution of the differences between the central government and the Kurdistan region of Iraq on the oil contracts. واكد كنا في تصريح صحفي اليوم الاحد ان هذه المسالة مازالت موضوع خلاف وتجاذب اراء بين الحكومة المركزية وحكومة اقليم كردستان، مشيرا الى انه يتطلب حلا شاملا للقضايا التي تخص العقود النفطية التي وقعتها حكومة الاقليم خلال العامين الماضيين. And we confirmed in a press release on Sunday that the issue is still the subject of controversy and wrangling between the central government and Kurdistan Regional Government, noting that it requires a comprehensive solution to the issues concerning the oil contracts signed by the provincial government during the past two years. وشدد كنا على ضرورة التوافق على قانون موحد للنفط، مبينا ان تأخير اقرار القانون سيؤثر سلبا على الاقتصاد العراقي مستقبلا، لاسيما وان هناك قوانين سابقة تتطابق مع رغبة العراق في التحول من الاقتصاد الاشتراكي الى اقتصاد السوق . We stressed the need for consensus on a uniform law for the oil, indicating that the delay in approving the law would negatively affect the Iraqi economy, the future, especially since there are laws in conformity with the wishes of a previous Iraq in the transition from socialist economy to a market economy. واعرب كنا عن اعتقاده بأن البلاد مهيأة العام الحالي لتحسن اقتصادي كبير، معللا ذلك بتحسن الوضع الامني والاستعداد لتعديل بعض بنود قانون الاستثمار ، وتقنين المصروفات التشغيلية لصالح النفقات الاستثمارية. He believed that we were ready this year, the country of significant economic improvement, citing the improved security situation and a willingness to amend the terms of the investment law, and codification of the operating expenses for the investment expenditure. __________________

Actually, there is a great thread on nenosplace which states no lop. I recommend others read it.

Wasn't this article posted a couple of months ago and debunked???

I log onto the site yesterday and got deverted to a commercial that wanted me to consider VAGINAL RECONSTRUCTION. You know plastic surgery on my crotch. What the #(&^!$+%@#*& is this world coming to. I didn't ask to see this and I don't want to think about it either. What's up with that Adam? - Mongo, Senior Member DV

Special banking system

I think the Finance Minister would make this announcement. Not cbi.

Someone posted this yesterday. It looks more like advertisement than a news article. Especially at the very bottom of the "article" is an ad for Dinar - IMHO

Baghdaddy, can you re-post the article you just mentioned. I think more people will pay attention to it this time.

Ok, this is my attempt for a positive spin: I am hoping Maliki's approach is like Morgan Freeman's character in Shawshank Redemption. Whenever he went to the parole board and asked for freedom, the board said no. When he finally said I won't be asking for mercy, they gave him his freedom. Maybe (hopefully) Maliki is using reverse psychology, i.e. the Morgan Freeman approach. I think Kuwait is pushing for Ch. 7 to end so that they can get their funds. Am hoping UNSC denies the request for extension.