speculatorsRIDE

Actual information huh? A week ago the CBI RV'd their currency from 1170 to 1166. Yes, they are able to RV their currency prior to the remaining sanctions of Ch 7 being lifted. All of the remaining sanctions pertain to Kuwait and NOT their currency.

Spot on Hopeful. Thanks.

SURPRISE!!!!!!!!!!

So are we looking at an RV before June? That is the million dinar question.

Things that make you go huh! This does it.

Yes, fractional banking is a tool that banks use to make money. Post RV they will have 30 trillion dollars, assuming your figures are correct, to fractionalize. They will be some very happy bankers indeed. The auto makers have produced to many diesel engine passenger vehicles trying to up the amount of mileage per gallon for consumers. Since diesel is the by product of making regular gas, they would need to produce more gas engine vehicles to increase demand.

This should be pinned at the top. Great overview of the situation and possibilities. Thanks for bringing this over.

interesting!

A month ago or so, someone wanted to know why I was looking for a 50,000 and 100,000 note? Now you know.

Which time Nutn?

For the record, the military father pictured in this picture was killed in Afghanistan 1 month before the baby was born. This fact gives the picture much more meaning. This child is one more that will grow up without a father due to war.

How will they distribute the lower denoms?

Interesting!

Rumor debunked. Thanks sonny1. While the dinar is a speculation, folks need to stop reading things into everything they see. Try living life by the old adage, "better to remain silent and thought a fool, then to open your mouth and remove all doubt" PS. Good to hear from you sonny1.

3.6 Billion is significant funding IMO. IMF Executive Board Approves US$3.6 Billion Stand-By Arrangement for Iraq Press Release No. 10/60 February 24, 2010 The Executive Board of the International Monetary Fund (IMF) today approved a two-year Stand-By Arrangement for Iraq for an amount equivalent to SDR 2.38 billion (about US$3.64 billion) to cover the country’s balance of payments needs. The Board’s approval makes an amount equivalent to SDR 297.1 million (about US$455 million) immediately available to the Iraqi authorities. The new arrangement follows a 15-month program supported by a Stand-By Arrangement, which was approved by the executive Board on December 20, 2007 and expired on March 18, 2009 (Press Release No 07/301). The successor arrangement is designed to support Iraq's economic program over the next 24 months through February 23, 2012. Following the Executive Board's discussion of Iraq, Mr. Takatoshi Kato, Deputy Managing Director and Acting Chair, said: “Iraq has made substantial progress in rebuilding its economy and consolidating macroeconomic stability under difficult security and political conditions. The economy was severely affected in 2009 by the drop in international oil prices. The current account and the overall balance of payments are expected to remain in deficit in 2010 and 2011. Similarly, the fiscal position is projected to record large, albeit declining, deficits in both years, before returning to a surplus position in 2012. “Against this background, the economic program for 2010 and 2011 aims at providing a sound macroeconomic framework during a period of economic and political uncertainties. Consistent with this program, the 2010 budget adopted by parliament seeks to contain current spending while increasing investment to address Iraq’s large rehabilitation needs and improve public service delivery. Monetary and exchange rate policies will continue to aim at keeping inflation low. “The economic program will also help the authorities move forward with their structural reform agenda. Strengthening the public financial management system is critical to improving the allocation and execution of public resources, as well as enhancing transparency and accountability in the management of the country’s natural resources. The program also incorporates banking sector reforms, including a restructuring of state-owned banks, with a view to improving the financial services required by a growing economy. “The authorities intend to treat the new Stand-by Arrangement as precautionary should oil prices turn out to be significantly higher than envisaged, or investment execution be lower than budgeted. “The authorities have made significant progress in their external debt negotiations with official and private creditors. They remain committed to completing the restructuring of remaining non-Paris Club claims,” Mr. Kato stated. ANNEX Program Summary The main objectives of the program are to maintain macroeconomic stability during a period of high economic and political uncertainties (parliamentary elections are scheduled for March 7, 2010), and to provide a framework for deepening structural reforms. While Iraq’s medium-term economic outlook remains favorable because oil prices and production are projected to increase in the coming years, based on conservative oil price assumptions the current account and overall balance of payments are expected to remain in deficit in 2010 and 2011. Similarly, Iraq’s fiscal position is projected to record large, albeit declining deficits in both years, before returning to a surplus position in 2012. Against this background, the authorities have designed an economic program for the period through end-2011 and have requested the Fund to support it with a new two-year Stand-By Arrangement. The authorities view the new program primarily as a way to provide a sound macroeconomic framework during a period of high economic and political uncertainties. The authorities’ fiscal program seeks to contain current government spending while catching up on much-needed investment spending. The budget deficit is targeted to decline to 19 percent of GDP in 2010 and further to 6 percent in 2011, before shifting back into surplus in 2012. Monetary and exchange rate policies will continue to aim at keeping inflation low. The new program will also aim to advance key reforms in the areas of public financial management (PFM) and financial sector development, in close coordination with a Development Policy Loan (DPL) provided by the World Bank. Both operations focus on advancing PFM and bank restructuring action plans prepared by the authorities during 2008 and 2009 with the assistance of Fund and World Bank staff. http://www.imf.org/external/np/sec/pr/2010/pr1060.htm Then this next press release extends the funding until July 2012. That means they are still collecting. IMF Executive Board Completes Second Review Under Stand-By Arrangement with Iraq, Grants Waivers and Approves US$471.1 Million Disbursement Press Release No. 11/90 March 18, 2011 The Executive Board of the International Monetary Fund (IMF) today completed the second review of Iraq’s economic performance under a program supported by a Stand-By Arrangement (SBA). Completion of the second review makes an additional SDR 297.1 million (about US$471.1 million) available for disbursement, bringing the total resources currently purchased by Iraq under the SBA to SDR 1.069 billion (about US$1.7 billion). The Executive Board also approved a waiver of applicability of the end-December 2010 performance criteria on the central government fiscal deficit and on the central government spending bill, for which data is not yet available. The Executive Board furthermore approved an extension of the SBA by five months to July 2012, and a rephasing of access under the SBA to match disbursements with Iraq’s balance of payments financing needs. The SBA was approved on February 24, 2010 (see Press Release No. 10/60) for SDR 2.38 billion (about US$3.77 billion). The SBA supported program aims to ensure macroeconomic stability and provide a framework for advancing structural reforms in Iraq. Following the Executive Board’s discussion on Iraq, Mr. Naoyuki Shinohara, Deputy Managing Director and Acting Chair, stated: “Iraq has maintained macroeconomic stability under difficult external and internal circumstances, while making efforts to rebuild key economic institutions. Inflation has remained subdued, and the exchange rate has remained stable. The 2011 budget aims to accelerate investment in public services and infrastructure, and accommodates higher social safety net provisions to support those in need. Iraq’s rehabilitation needs remain large and the higher investment spending is essential to help create a vibrant private sector that provides employment opportunities for Iraq’s large labor force, thus helping to reduce poverty. At the same time, a strong emphasis on ensuring the quality of public spending will be important. “Decisive efforts to rebuild key economic institutions and improve governance will be critical for private sector development. The formation of the new government and the expected increase in oil production in the coming years offer an opportunity to do so while maintaining macroeconomic stability. Further strengthening public financial management encompasses the introduction of an automated financial management and information system and improvements in cash management which would eventually culminate in the establishment of a single treasury account. Establishing a framework for oil revenues to succeed the Development Fund for Iraq should help ensure continued accountability and transparency. In the financial sector, moving ahead with the financial and operational restructuring of the two largest state-owned banks and enhancing the central bank’s supervision capacity will contribute to creating a financial sector that can provide essential services to the private sector. “Iraq continues to make progress to conclude debt agreements and resolve outstanding claims under terms comparable to the 2004 Paris Club Agreement.” http://www.imf.org/external/np/sec/pr/2011/pr1190.htm

Forex is currently showing 1134 again. I find it interesting that the exchange rate keeps fluctuating as it is. http://www.forex.tradingcharts.com/quotes/index.php?sym=usdiqd&Submit=Go&tz=GMT Take a look at this next link and you will notice that it has been doing this for some time now. http://www.forex.tradingcharts.com/chart/US%20Dollar_Iraqi%20Dinar.html?chartpair=US%2520Dollar_Iraqi%2520Dinar&ctype=c&movAvg1=&movAvg2=&tz=EST&per=5m⊂=Save Very very interesting.

I think Iraq is pretty dependent on those SDR's that the IMF keeps handing out. Force them? No. But, Iraq would definitely attempt to jump thru any hoop the IMF holds up for them.

My pleasure Francie. Someone being obnoxious is one thing, being disrespectful is quite another. I am sure that Jeff will return with another screen name. They always do. It won't take long to figure out who he is once he returns. Personalities like his are always glaring. The majority of dealers own their stock. Upon revalue they too will be cashing in.

If and when an RV happens and the IQD becomes internationally traded, then you will be able to do just that. However, you may not get the best deal at your local bank. Do your homework before cashing out. You will want to find the best place to exchange based on spread. If there is a significant RV, you could be leaving thousands on the table.

While I have no way of knowing rather this story is real or fantasy, I must say the 2 account strategy is exactly what you should have in place. I have 2 non interest bearing accounts set up. Special instructions for the first account are to automatically wire funds to the second account 1 minute after any funds are wired into account 1. I have wired funds in to check and it worked just as it was supposed to. Once the funds are are wired to the second account, I receive a text message. This insures that once the funds are wired into my account, a reverse wire cannot be initiated because the funds are no longer in account 1. Better safe then sorry.

Papster thanks for the post. Looks like SWFG is well grounded.

Wow! You really are a piece of work. Your mother must be so proud. I certainly hope that no one speaks to her the way you speak to Francie. If you make it to Vegas, please don't bother introducing yourself.

He who laughs last, laughs loudest. The guys at work may be laughing at you as they walk out the door. Perhaps it is you that has been scammed by those claiming this to be a scam. The IQD is the legal currency of Iraq. Saying that owning the IQD is a scam would be like saying owning the USD is a scam. Pretty foolish huh?

First: I am NOT VIP. I take offense at your implication that I am NOT smart because I am NOT VIP. Second: The Iraqi citizens are UNLOADING their dinars at the banks for USD. The "SELLING" banks then sell the dinars back to the CBI to replace the USD that were sold to the citizens. OBVIOUSLY the Iraqi citizens prefer the USD over the IQD. Third: As for your GURU comments. You seem to be misinformed and believe that DV members believe the GURU garbage spewed daily. Informed DV members place no weight in anything printed by GURU'S. An RV could happen at any hour, day, month or year and so we wait.

Better do a little more research my friend. It is always better to have the facts straight before you attempt to inform others. The CBI is conducting a foreign currency auction. The IQD is NOT a foreign currency in Iraq, the USD is. The CBI sells USD for IQD. There, now we have the facts straight.