DPV

It seems to me the only reasons a country has to make someone turn in their currency is because they are either introducing new currency or they are re-denominating their currency(lopping zeros or whatnot). I'm surprised to hear of a time frame though. Usually you can use your pre-lop bills forever. Usually the country just takes them out of circulation as they pass through the banks, eventually eliminating all the old bills. This can also explain a rumor about 2 different prices for goods in sores(one price for new currency and one price for old. this way you don't have to carry a calculator around to shop). This eases the costs of printing all the new money right away. I think best case scenario is they lop 3 zeros while Re-Instating the IQD with a new rate to the globally traded marketplace. Keep in mind lopping doesn't mean the value has to drop. For instance: If a cup of coffee pre-lop cost 1,000 dinar, after the lop a cup of coffee will cost 1 dinar. Does anyone know of any other reasons a country would want you to turn in their currency?

I don't think it's absolutely necessary Iraq RV their currency. However I do think it's possible they drop three zeros off it and RI(re-instate). This doesn't mean the value goes down. Let's say for example right now 1,000 dinar can buy a cup of coffee-when they drop the zeros a cup of coffee now costs 1 dinar. I think it's all tied to how much oil they can pump out of Iraq. Even though oil is traded worldwide in USD, the more they export the more their dinar will be worth. It will be interesting to see what happens once IQD is actually started to be traded worldwide and also once they become a full fledged member of the WTO. For the IQD's value to be high their has to be a demand for it. Iraq will have plenty of USD from all the oil they sell and can probably buy back dinars at any price they want but I think they have too much rebuilding to do and will have to pay USD to any contractors outside of Iraq. So I don't know how much their going to want to spend buying back dinars right now. I think the question should be: Is the IQD currently undervalued? If it is I think they ReInstate at a higher rate while dropping three zeros from the currency and let the market dictate will it ends up. Not what most people want to hear, but sorry, it's the most logical and easiest thing for them to do. And has been done many times in the past. I'm just hoping it RI's near Saudi's Riyal(26ents), a country with similar resources and exports. I'm just looking to buy a house in cash, not retire from this investment. I believe theres money to be made here with a little patience, just not the millions evreyone is led to believe.

Iran is a country the whole world should be afraid of, especially the Middle East. It has however been that way for decades. Unfortunately for all us IQD investors Iraq is neighbors with Iran and any neighboring country can have an adverse effect on another. It's just like your neighbors run down crappy house and yard that is lowering the value and marketability of your home. But as long as there isn't another war over there and Iraq continues on the path they are today we should be fine. America is nice and isolated and safe here in the west,with people going about their days without much to fear, but as everyone here knows this is not the case everywhere else in the world. There are many things to be cautious and fearful of if you are Iraq, Iran being just one of them(albeit one of the bigger ones). Thanks for the post. It's better than talking about rates and dates.

nir, thanks for sharing. I would like to know if your contact in Iraq had any comments or thoughts on if he feels there will be a LOP of the IQD? Don't worry about being bashed. I think alot of people would bash their own mother on here right now. Lots of tension. I would tend to put much more stock into a post such as yours rather than one with dates and #'s in it. Thanks again

I bought mine from an Associated Bank in Wisconsin. Had to open a checking account to do so. Can bring them back and exchange them any time just like any other currency they deal with for the going rate. They charged something like $11 or $15 for $1,500 usd worth. I would think if someone had dinar they could open an account there and then exchange them to usd if they wanted to. I heard Associated is owned by some corp. in Denmark and this has something to do with why you can get iqd through them.

Squardeway, please dont change to scaredaway. Hope you can hang in there. Like 6 yr wait said- there has been alot of recent positives regarding Iraq. I don't believe the us gov has anything to do with it. The world wouldnt let one country have the power to play with another countrys currency like that. I hate to say it but wanting an rv/ri enough will not make it happen(if that was the case this site would have made it happen long ago), all it will do is drive you crazy. I firmly believe this investment(sorry- I don't consider this a get rich quick scheme) will eventually pay off. Like everyone else I hope sooner rather than later but I am prepared to wait however long it takes for the IQD to rise in the upper 20cent range and then I'm out. I do feel bad for everyone who bought IQD with the belief it "has" to rv and "will rv at above 3" in the near future and all the needy people out there that could use the money an rv would generate. There arn't too many people out there with a job or not that couldnt use a few extra bucks, but don't hate on all the people that arn't using this as a get rich quick scheme, people that are financially fine or whatnot. Some of these people are prob supplying you with great info on this whole dinar deal. You kinda sound like a whiner. Reading alot of comments on this site tend to make me already feel like I am already wealthy to be honest(that's wealth of the mind). People are literally going insane over this. Now bash me everyone, I don't care because the Pack is Super Bowl bound baby!

I probably should have stated before my post that while I am a newbie to posting here I have been reading all the posts on DV and other websites since Oct. 2010. Not long, but long enough I figured I'd post my opinion. Someone help me out here...Did I not post this in the opinion section. Cadillac- if all you want is a good suspense story, go to the rumor section.

Forget about an RV/RI. People just be happy that Iraq is moving in the right direction. At some point the IQD is going to be much more valuable than it is today. I don't see any reason it can't be on par with the Saudi Riyal(.26cents). The only thing of value in both countries is oil, which is traded in USD globally, not whatever currency a particular country uses as their own. Now with that being said, I don't think it would be unrealistic to be on par with Saudi Arabia. That would be an amazing return on any investment, especially currency trading. Wanting a bigger return than that would be considered greedy in some investment circles. Nobody that gives exact dates when this will be has any clue. That's not how these things work. It could be next month,year, or even longer. Just be happy with the investment you've made knowing some day it will pay off, but continue to do your own research and form your own opinions and have fun with this investment(this prob also means you didn't bite off more than you can chew so to speak). Take the rumors and opinions for what they are-rumors and opinions. Take your life back and don't obsess over an RV. Remember life's short and you might get hit by a bus walking down the street next week and never even get to enjoy the return on your investment. Live in the now and not the possible future. I've got my fingers crossed for an RV/RI as well but certainly am not holding my breath for one. I will now get off of my soapbox. Go Packers!!!

WOW.... I think if nothing else all these theory's would make for a great tv movie. Why wouldn't the gov keep it a secret and buy all the dinar's themselves? The real pumpers are the dinar dealers who make a transaction fee off every purchase a customer makes. Add the fees up over time with accumulated interest and they're millionaires. I'm still waiting for the GO RV!!! t-shirts and coffee mugs to go on sale. After they have enough money they go out of business and laugh the whole way to their new private island they bought with your money. They better at least send out a thank you card with a picture for every customer. People should buy their dinars from a bank, at least the banks are not advertising and pumping dinars. It's no different than trading your usd for euros if you take a European vacation and vise versa. You just have to find a bank that deals with dinars at this time which really isnt hard to do.

If you are worried about being scammed try the banks in your area. I'd be shocked if there wasn't one that could get you dinars. The only thing is you would have to use cash to get them. I bought my Iraqi Dinars from an Associated Bank in Wisconsin. It really wasn't like I bought them though- just did a currency exchange. USD to Iraqi Dinar(IQD). I recv. 1,374,000 dinars for $1,511 and some change USD(incl. $15 transaction fee) back in November 2010. I can take my dinar's in and exchange them back at the going rate at any time for another small transaction fee. I had to set up a checking account with them to do this. Apparently from what I've heard(never verified this because it doesn't matter as much to me why as how) is Associated Bank is owned by someone in Denmark and that is why they have been doing this before most of the U.S. banks are. They actually didn't even have the IQD wording in the system(they had to cross out euro and hand write in and initial IQD) but they did have the rate in the computer. Myself personally wouldn't feel comfortable doing this any other way but keep in mind as long as you have the physical currency you can currency exchange at any bank that deals with it for a transaction fee(however you prob will need to open a checking acct. to do this at this time until the IQD is globally traded). I have heard there are more banks out there that do this other than Associated. Hope this helps.