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NickMc

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  1. The article is saying 25k notes are NOT going to lose value.
  2. Found this article from The Financial Reader (londonfunds.com). It's dated january 30th of this year. I'll make it easy for you LOPsters, pay attention to the bold and underline. Iraqi Dinar revaluation is imminent, backed by a powerful Iraqi economy Posted on January 30th, 2011 by Jason Masters Iraq is expecting to undergo a interval of large financial growth supported by a rise in overseas investment in oil production and infrastructure. Iraq is a country populated by 30 million people with active and well educated workforce. Iraq is extremely enticing to overseas investors as foreigners can own Iraqi corporations outright, they’ve got a flat tax charge of 25% and also most significantly, they have the ability to repatriate earnings as they see fit. Despite the fact that President Barack Obama formally confirmed the end of US combat operations in Iraq, it may take some time before the country comes back to a being a peaceful and stable place. Meanwhile the country stays a risky nation. There is still political unrest and violence. Underlying this instability, Iraq is in fact a potential economic giant, and it’ll slowly but definitely return to after 30 years of flat or no development and unrest. Indicators of economic recovery began in 2009, when Iraq awarded 12 new oil production contracts to international oil production corporations. Iraq has the highest share of under exploited oil fields. Nearly all of Iraq’s oil fields are within the south of the nation in the Shia controlled area, the place there is relative stability. This is extremely optimistic for the overseas oil companies and for oil manufacturing as it will not be hampered by any political unrest or instability. Iraq has the fourth largest oil reserves on earth after Saudi Arabia, Venezuela and also Iran. Currently, its oil production is estimated at 2.5m barrels a day, which does not make them one of the largest oil producers within the world. All these new oil production contracts will be a considerable boost to the rocky financial system and also will in addition give a considerable stream of overseas investment into the country’s overlooked oil infrastructure. Oil manufacturing in Iraq is anticipated to rise to much more than 10 million barrels per day by 2020. By this date, it is estimated that Iraq would be 1 of the biggest oil suppliers, 2nd only to Saudi Arabia and Russia. If right now’s oil prices stayed steady, this could drastically enhance Iraq’s probable oil revenue. At this production fee they’ll anticipate revenues from oil to be $280 billion a yr, a huge rise from the present degree of $70 billion a year. Oil money from the growing oil manufacturing is underpinning the expansion in Iraq, as it is catching up to meet the pent-up need for homes and also better infrastructure. With political stability and proper management of this massive progress charge in Iraq, the country has the potential to be 1 of the richest within the area and also to be a large player on the global oil stage. On the rate of growth in oil production, Iraq’s GDP could quadruple per capita, as the increase in revenues from oil will convert Iraq from having a financial deficit to having expected financial reserves in excess of an estimated $350 billion. This would put Iraq on an equal footing with its close oil production neighbours like Kuwait, Saudi Arabia and UAE. It can after that now not need to have a loan from the International monetary fund to maintain its stability of payments. One of the largest factors affecting Iraq’s economic growth could be increasing its nationwide safety and also stability. Iraq’s economic development is prone to be influenced by domestic politics and also political instability. They’re anticipating a possible new oil regulation, that will imply that speculators will see changeable times in front because the legal and regulatory environment for the oil industry is absolutely changeable. Iraq will need to beat all these problems to ensure that it supplies the proper infrastructure like highways, electricity and also water to allow the foreign international investments to produce the improvement in oil production. The Iraqi Dinar and also Revaluation Iraq’s currency is the Iraqi Dinar and also is traded beneath the forex code as IQD. The Iraqi central bank announced in 2010 that they were planning to redenominate the Iqd, to make cash transactions easier. They intend to drop three zeros from the nominal value, but maintaining the actual value of the dinar the same. What this means is that the one thousand IQD (pre redenomination) and the 1 dinar (put up redenomination) would be valued as the same quantity in US dollars. Even though the announcement was made in December and was anticipated to happen by the end of 2010. There is nonetheless no indications of this going on and no extra announcements have been made by the central bank. The current rate of exchange between Iraqi dinar and also the USD is 1167 dinar to a dollar. There has been great fluctuations within the exchange rate of the Iqd, as speculators and investors have been shopping for dinars on the basis that there will be a revaluation in some unspecified time in the future within the near future. The New Iraqi Dinar (IQD) is just not yet traded on the open foreign exchange market however you may order Iraqi Dinar via a foreign alternate forex trader or from a banking institution. Many of them will purchase it back from you however the price may be at a discount. As the IQD isn’t being actively traded, there is not much liquidity in this currency. Foreign currency speculators have been expecting a revaluation of the Iqd for 7 years. The Iqd is expected to be revalued alongside the same foundation that the Kuwaiti dinar was revalued after the 1st Gulf War. At that point in time, the Kuwaiti Dinar fell from its pre conflict levels. When oil production restarted. The foreign currency regained all its original worth. Investors holding the Kuwaiti dinar on the time noticed profits of over 3000% on their investment. This higher anticipated profit has shaped very big expectations that on the revaluation of the Iraqi dinar and also many individuals are speculating that this shall be an asset with an extremely high profit. With the increase in GDP, fiscal stability within the improving Iraqi economy. Economic professionals predict to see the Iraqi dinar to be revalued to more efficiently value the underlying economy. This revaluation has been anticipated for a while, but can only happen when all the nation’s issues have been overcome. In the event you mean to invest within the Iraqi dinar, just keep in mind like some other trade, the worth can increase besides fall.
  3. I have grown tired of arguing with such ignorance.
  4. This is where you are WRONG! Unless your calling Shabibi a guru. This has come out of his and Saleh's mouth the whole time. Where you get this divide by a 1000 crap I have no idea??? Where is your proof of that? And I'm not talking about other RD's. I'm talking about what they say they are gonna do (Iraq, not turkey, brazil, venezuela, russia and the like). They have always talked about three zeros! Let me say that again, they have always talked about THREE zeros! The last time I looked there was only ONE zero on a 50 dinar note. ONE zero on a 250 dinar note. As far as the IMF is concerned why don't you take the time and do the research on commodity backed currency and see what you come up with.
  5. Not all countrys are blessed with gold like the US so the IMF, I can't remember the year, changed the ruling to where 80% could be commodity.(oil agriculture etc)
  6. In every article concerning shabibi he has always said that the deleting of the zeros would not do anything to the value, right? so let me ask you this, what exchange rate did you pay for your 25k note? 1170 right? What did you pay for your 50 dinar note? 1170 right? So delete zeros(every article has talked about 3 zeros, not everything with a zero on it) now the guy with an enormous amount of 50's retained his value and everyone with 25k notes lost theirs. That completely contradicts what shabby has been telling us. If he wants to do this to facilitate large purchases, so people don't have to take a suitcase full of cash to buy a car, how is making the big notes worthless going to do that?
  7. Right now iraqs money is backed by their reserve right? So when they RV according to the IMF 80% of their value can be backed by their oil(in the ground), natural gas, gold and various other minerals plus what they have in reserve. So, tell me why would they LOP? did turkey, venezuela, brazil, etc have that kind of future ahead of them at the time? Well just look at them now. That's what I thought.
  8. No one ever mentions the Kuwait RV. There was a 3000% profit made. I understand the situation was a little different and I don't know all the details, but it is shown in history that it is possible.
  9. If they are going to LOP why in the world are they going to introduce 1000 and 500 dinar coins? http://************.com/2011/08/02/iraqi-dinar-will-regain-glory-and-coins-in-our-pockets-soon/
  10. The significance is that Iraq is in a completely opposite situation as turkey as far as their economy, the amount of notes in circulation and the amount of zeros on their notes so where is the justification for Iraq to follow that example?
  11. Do you think they are waiting until next year when they get the new and bigger budget, or does that matter at all to RV?
  12. You might want to look at this http://www.tcmb.gov.tr/yeni/iletisimgm/NTL_faq.htm
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