speculatorsRIDE

The answer would be NO! They already changed the rate in 2012 from 1170 to 1166. Those of you who answered YES need to do a little more homework.

bump

I believe it will be much higher then a dollar. How's that for splainin? I absolutely agree. It will be much more then a dollar. Riddle solved. The dinar will be the strongest currency in the ME. That's pretty easy to understand. I am being told $3.52 to $3.54 to open, but, it rise quickly from there.

What corrections and amendments are you referring to? An RV will only change the purchasing power of each dinar. Let's assume the budget says they are spending 30 million dinar on electrical upgrades. (example only) When the currency revalues they will be purchasing the exact same upgrades, however, they will have to count out less dinar to pay for it, because the purchasing power of the dinar will be greater post RV.

First, it doesn't make sense that you would call this a rumor. It is a news article with a verifiable link. Secondly, to answer your question, the currency they sell now could become worth 1/1000th of its current value if they re-denominate, ie lop, the currency. They did the exact same thing to the old Sadam notes when they introduced the current currency we hold now. The question is will the parliament allow them to do it? There is strong disagreement currently with this plan.

This is planned for 2013? I believe it will be over before then.

Is tomorrow really our day? I heard this morning that tomorrow was our day. After following the news today it appears that it might in fact be. If the rate I was told this morning comes to pass, we will all be extremely happy.

While I agree that the plan is to make the IQD a reserve currency, as I have stated for over a year, I do not believe that the rate will be 1 : 1. We shall see.

First to the bank. Then to Key West. Then to Las Vegas. Then none of your business after that. lol

BINGO

FACT, the only thing you know for sure is exactly what the CBI wants you to know and nothing more. FACT, the number of IQD in circulation is fluid due to worn and soiled bills being removed daily, others being destroyed by fires, floods, etc. and new bills being introduced daily. Rational? You assume I believe some statements from the CBI and not others. In reality, I don't believe any statements from the CBI or any other central bank or the federal reserve. The numbers that they report are nothing more then numbers on a page to make the average citizen believe that the fiat money we use is actually worth more then the paper it is printed on. This appears to be working since the majority here believe the financials at face value. Fact is that until several months ago the CBI was both buying and selling USD's in an effort to stabilize the IQD. However, they have switched over to only selling USD in an effort to remove as much of the IQD from circulation as they can prior to revaluing their currency.

GOLD, GOLD, there's GOLD in that there sand, I say GOLD!

CBI is actively removing 000 notes and has been for months. The plan has always been to remove them prior to the RV. We are very close. The HCL, ministers seated, CH7 will all happen in rapid succession. RV rate will be $3.52-$3.54 to open. Not my opinion, but just what I have heard.

See.....bankers sometimes do have pertinent information to share. Thanks for sharing. Keep us updated if possible.

Posted from your link as a courtesy. Here is another article I found interesting as well. I think the Iraqi's are looking forward to October 2012. Iraq’s Last Window: Diffusing the Risks of a Petro-State Johnny West ~ 12 September 2011 Issue: Research, Resource Center, Revenue Management Country: Iraq Organization: Center for Global Development Link: Iraq’s Last Window: Diffusing the Risks of a Petro-State - Working Paper In this working paper from the Center for Global Development, Johnny West says Iraq’s oil industry has an opportunity to introduce an oil dividend based on expanding production. The predicted rise in revenues will allow the government to allocate a significant dividend that halves poverty, helps diversify the economy by creating demand at all income levels for goods and services, and stimulates capital formation—all without cutting into the government’s capital spending plans. West describes how such a dividend program could be structured by, for example, taking advantage of Iraq’s existing rationing system, ubiquitous mobile phone networks, and new biometric ID cards. A dividend, starting at $220 per capita in October 2012 and rising with expanded production, could also cement the affiliation of all citizens to Iraqi territorial integrity, act as a powerful disincentive to secession in oil-producing regions, and create popular pressure among all sections of the population to discourage acts by the ongoing insurgency which disrupt economic reconstruction.

Putting EITI Reports to Work for Iraq 23 January 2012 Hon Ali Allak, Secretary General of the Iraqi Cabinet and chair of Iraq's EITI group (Raghda Allouche) Issue: EITI Country: Iraq, Middle East and North Africa This article also in: العربية With the release of its first EITI report in December, Iraq took a historic step toward oil sector transparency. RWI has already held two regional workshops to help local groups analyze the report and take a leading role in Iraq's EITI process. Iraq became a candidate country in the Extractive Industries Transparency Initiative in February 2010, but RWI has been engaged there for several years, building the capacity of Iraqi civil society to monitor the petroleum sector and advising during the fractious debate over a new oil law. RWI’s 2010 work led to the creation of a large network of activists, journalists and media representatives, who participated in successive technical EITI trainings led by industry and transparency experts. As the Iraq EITI released its first report on 20 December, 2011, RWI convened a two-day workshop in Beirut on for the burgeoning EITI coalition of NGOs and experts, among them members of Iraq’s official EITI working group. The December event helped prepare participants to dissect the report and evaluate Iraq’s EITI compliance. The event resulted in the creation of draft analysis of the report by the participants. Though the report covers only the minimum requirements for EITI candidates, it constitutes an important milestone in efforts toward oil sector transparency. A second RWI workshop was held in Erbil, Iraq from 6-8 January. Thirty NGO and media representatives learned strategies for disseminating the EITI report and engaging effectively in debates and negotiations over the EITI proces. Facilitators Matteo Pellegrini of RWI and Sophia Harding of PWYP also discussed the prospects for Iraq’s EITI validation and civil society participation in EITI, among other topics. The event, which was widely covered in Iraqi media, benefited from remarks made by Hon. Ali Allak, Secretary General of the Iraqi Cabinet and chair of the EITI working group. Trainees gained a deeper understanding of the importance of EITI as a tool to inform decision-making and monitoring for oil revenue transparency. Longtime journalist Tahseen Sabar said, "Prior to the EITI, we never dared to ask officials for information on the oil revenue collection mechanisms." The first IEITI report reconciles oil volumes from oil producing companies with oil exports from the Ministry of Oil, as well as revenues reported by Iraq's State Oil Marketing Organization (SOMO) and oil buyers abroad. It was released in three languages, English, Arabic and Kurdish, and published on the IEITI website. The report is expected to be analyzed in August by a third-party auditor, as a step toward validation of Iraq’s compliance with EITI requirements.

Show me this LOI.

Uuuummm......ok......am I lost here?......or perhaps your lost?.....Did you read the OP's post?......or any of the comments that followed?.....What does any of your comments have to do with the subject at hand here?

This article is anything but......see above.

Always so negative TimS. Just because something has always been a certain way doesn't mean it can't change. None of the issues you listed above are holding up an RV. Write it down.

caz I think Randalln thought you were talking to him with this statement instead of TimS. Ooops. I see you already commented.

Red you may want to look into this position a bit more. None of the remaining sanctions restrict them from having an active military. They have military forces now and have for some time now. Our forces trained their forces for years now. They are purchasing all of the latest equipment. In short they have an operating military now. As for purchasing IQD after it RV's at 1:1, I won't be purchasing anymore as at that point the ship will have sailed.

If the dates on the bills are from the current year then you will pay 35%. If the dates are at least a year old then you will pay only 15%. No receipt required. The bills tell the story. IMO it will be taxed as capital gains, as this is what I have been told by friends in the government. As long as I am stepping out there, they also are saying that the opening rate will be between $3.52 and $3.54 and climb for a short period from there. Time will tell if they know what they are talking about. Luckily they say that the time is growing short. That's plain crazy talk Mongo.

You have that backwards. They stopped selling dollars for dinar. However, as we see from the auction results since the article came out saying they were stopping the auctions, they in fact didn't stop, but, the amount being sold has been reduced greatly.

Thanks pp. +1 back at cha. I have found that the dollar explanation leaves to many scratching their heads.