Furbrain

Thanks for the clarification Yota and China.

Am I reading this right? If you divide 8.8 trillion dinar by 1166, you get roughly 7.5 billon dollars. They had 76 billion in May of 2013 and now only 7.5 billion in reserves. That is a 90 percent decrease in reserves in only 15 months.

Thank you ocdude, that's all I needed to know.

I am not a Christian and I do do not know the Bible very well but Romans 13 does not makes sense in the context of our elected officials. The list could run for days with the names of evil people in positions of authority. They were put there by God?

I have an IQ of between 135 and 143 (tested five times and that was the range). Since I stock shelves at a grocery store to pay the bills, having an above normal IQ must not make you too smart. I consider myself to be stupid for making a living the way I do. Ocdude- if I call a white person a monkey, would that be considered racist? Just curious, not meaning to start a fight.

At this point I would gladly take a half empty glass... my glass is bone dry.

You are right. I must not understand what I am reading. The only mention of Eid al-Fitr is this We asked the Prime Minister to make all efforts for the distribution of salaries of all employees of the region ahead of the Eid al-Fitr So paying employees ahead of the festival is the gift? I suppose one could see it that way so everyone has money to spend during the holiday. That is the way I read it.

I saw no mention of gifts during Rahmadan in any of the articles. I did see this quote which supports DontLop Dr. Khalid Haider said the Kurdistan Regional Government has been forced to make this decision after cutting financial allocations to them by the federal government, had to test another currency prevailed and now the dominant currency is the dollar

I've considered that angle as well, but is sounds more like a conventional investment (cough) not the instant millionaire type we are hoping for

Boomer - this is my only fear with this speculative investment. I KNOW the Dinar will increase dramatically in value either slowly or overnight; however, will all the people outside Iraq be left without a viable method of trading the currency? I am certain governments and the "big fish" will be taken care of, it's us "small fish" I am concerned about.

Bama, I have read through #28 on this thread and I am trying to make sense of of something. If the US dollar dropped in value, would the IQD rise or fall in value? Thank you for your help.

This certainly is good news. Thanks Yota.I am surprised there have not been more comments on it.

I am certainly not a supporter of Biden or this administration but I do have to say, Well put KK. It reminds me of the story of a dentist who pulled a man's bad tooth in about a minute. When the man complained about being charged so much for such a short time of work, the dentist replied, "did you want me to take my time and prolong the pain?"

Your are correct sir. However, the perks they enjoy are far beyond the amount they make in salary. Not to mention the book deals, speaking engagements, diner events etc that they make money from.

That sounds like the same disparity we have here. Hard labor = $25,000 a year and CEO's, Senators and cabinet members are making between 2-50 million a year. Yeah, that sounds about right. Maybe I am reading this incorrectly but the article states the monetary issuance is estimated at 32 Trillion. The Central Bank of Iraq plans to make a radical change in monetary policy through a deletion of three zeros from the monetary issuance, which is estimated at 32 trillion offset 4 billion banknotes That seems like an enormous amount of currency.

It is nice to see you are back FNB. Thank you.

I believe you have contradicted yourself. First you state - This is just the RD process it will not effect us in a negative way at all. Then - The RD - They are just stating that a new 50 dinar note will be worth 50000 dinars. And conversely 50,000 old Dinar will be worth 50 new Dinar. And Then - The RV - So when they decide to RV the new currency it will have the correct face value, meaning a new 50 dinar note will be worth 50 dinars post RV (zero's deleted). Therefore, the old 50,000 Dinar is now worth 50 Dinar post RV. SO – How can A 25000 Iraqi Dinar note will always be worth 25000 Dinars when you have just shown us it will not be? Forgive me if I have misread what you wrote or if you mistyped your thoughts.

Better late than never!

The same ad was posted on the Washington D.C. Craig's List on 2/27/2012. http://washingtondc.craigslist.org/doc/acc/2873584888.html

Well good then, I will continue to plan my RV party!

I'll take your word on it Tony; you have much more experience than I do. The words "replace currency" kind of spook me. Sounds RDish.

I hope it is smoke but it sure does not give me a warm and cuddly feeling.

It is difficult to read 2000 page bills line-by-line three times before voting on them. Our congress needs to learn how to write smaller bills, not epic novels akin to War and Peace and so convoluted that the people writing them do not understand them.

I am starting to get butterflies in my stomach. Is this supposed to happen on a roller coaster?

Please verify me.