jackster

Then who does own CBI? Please provide evidence. Also, provide evidence that the US prints their money.

Real GDP Annual Percentage Change for Iraq is 9.8%. That should mean that the Dinar will increase in value at 9.8% annually. 1 million IQD will go from $1165 to $1279 by next year. But I'm just speculating.

I've read a few posts in this forum and find what people say about different currencies are rather inaccurate. First, the US Dollar is NOT backed by gold or any other precious metal. Fort Knox is where the gold bullion is stored and safeguarded for the US Mint. The US Dollar (paper money) is backed by debt purchased by the Federal Reserve. It is called a Federal Reserve Note. Up until 1964, Silver Certificates were issued. My step-father still has one. US Notes were printed til 1971. Few are still in circulation. Second, I can NOT find any information on what the current Iraqi Dinar is based on. But, it is NOT oil. The Central Bank of Iraq's job is to "Hold gold and manage the state reserves of gold." Third, no currencies are backed by gold. Gold reserves are held by different countries, but the gold does NOT back up their currency. Fourth, last year the Swiss Franc rose in value against the Dollar and the Euro. "In March 2011 the franc climbed past the US$1.10 mark (CHF 0.91 per U.S. dollar). In June 2011 the franc climbed past US$1.20 (CHF 0.833 per U.S. dollar) as investors sought safety amidst the continuation of the Greek sovereign-debt crisis. Continuation of the same crisis in Europe and the debt crisis in the U.S. propelled the Swiss franc past US$1.30 (CHF 0.769 per U.S. dollar) as of August 2011, prompting the Swiss National Bank to boost the franc's liquidity in an attempt to counter its "massive overvaluation". The Economist argued that its Big Mac Index in July 2011 indicated an overvaluation of 98% over the dollar and cited Swiss companies releasing profit warnings and threatening to move operations out of the country due to the strength of the franc. Demand for francs and franc-denominated assets was so strong that nominal short-term Swiss interest rates became negative. On 6 September 2011 the SNB set a minimum exchange rate of 1.20 francs to the euro saying "the value of the franc is a threat to the economy", and that it was "prepared to buy foreign currency in unlimited quantities." In response to the announcement the franc fell against the euro, to 1.22 francs from 1.12 francs and lost 9% against the U.S. dollar within fifteen minutes. The intervention stunned currency traders since the franc had long been regarded as a safe haven. The franc fell 8.8% against the euro, 9.5% against the dollar, and at least 8.2% against all 16 of the most active currencies on the day of the announcement. It was the largest plunge of the franc ever against the euro. The SNB had previously set an exchange rate target in 1978 and maintained it,[clarification needed] although at the cost of high inflation. The strengthening of the Swiss Franc hurt the Swiss economy. A strengthening of the Iraqi Dinar would also hurt the Iraqi economy. A revaluation of the Dinar to levels hoped for in this forum would destroy Iraq. However, people hope and believe they will become overnight millionaires at the expense of the people of Iraq. Do you remember when the dollar bought a whole lot more? Why not apply the same logic and hope that the dollar will revalue to pre-Viet Nam War levels?

Tirebiter, i suppose you have a copy of the transaction. I'm sure everyone would love to see it. Step up to the plate for real this time.

Here's a quote: Dear friends, Please keep in mind that Tank has an established number of business accounts with this banker...and as he said, has a second generational customer status... Thank you Tank, for sharing your experience with us. 3sIntel: 6:25 PM [tank] We just got back from London. Last week I was explaining about our banker at 'name removed' [tank] We deposited 1 MIll IQD for an even rate of 4.00 in USD . As long as we move it to pounds we can spend it. ######################### He was able to RV? He has $4 million? But he can't spend it unless he moves it to pounds? Verifiable?

thatoneguy, I re-read your post. And after reading the pdf, it talks more about insurance for the account. The email you got is completely wrong. The Dinar is NOT backed by gold, oil, etc. Neither is the US Dollar. The Dollar will NOT be devalued 40%. Not even 5%. The Dollar is a commodity. There are no New US Treasury Bills that will be used as currency. Dr. Ed in Texas can definitely be creative.

Granny, No, I wasn't trying to get myself banned. Wasn't trying to promote it. Everyone knows about that site. And it's still down.

There are numerous articles regarding redenomination of the Iraqi Dinar. This can be verified. Can anyone find any articles on revaluation of the Iraqi Dinar? Can this be verified?

Nice long list. one should read each one to determine what were the circumstances of each resignation. Remember the problems banks in the US were having with foreclosures and mortgage fraud. Many resignations resulted. Also, the problems USB and Credite Suisse were having with the US Government regarding US nationals hiding their money. Many resignations resulted. What do any of these resignations have to do with the RV?

Oops. Yeah, I'm a newbie. Just fill in the asterisks with something like Dinar and Recaps.

Benjamin NutnYahoo, You should check out their site now. www.****************.com Very interesting. Especially after Europe was RVing and everyone over in the Olde World was cashing in. But I forgot about the super solar flares that will disrupt all computers. That should explain what happened to their site. Unless a hacker who has it in for Dinarians......

The Machine, My 'fundamental' questions did NOT receive any 'fundamental' answers. Again, those questions were: Will the price of chicken breast also increase? Will his wages decrease? I could imagine that an educated Iraqi would take his Dinar to a bank and 'cash-in'. Receive over 2million US dollars. Then what? Stay in Iraq and live the life of luxury? Move to the US? Move to Switzerland? What would actually happen to the economy of Iraq if (when?) the Dinar revalues? How is it that the Dinar will maek millionaires outside of Iraq but not inside Iraq? The laws or rules of economics would change life in Iraq. It apparently would change life for everyone else outside of Iraq that holds the Dinar. Will the common Iraqi citizen become a millionaire just like the rest of us?

thatoneguy, where does it state that "...the Dodd-Frank bill designed a method by which your Dinar (and possibly Dong) deposits would be treated AS ACTUAL METALS-BASED CURRENCY..."? I pulled up the pdf you referred to and could not find it.

The median monthly disposable income is $528. Which would equate to IQD 615,993.75 at today's value. Then comes the RV. At which, nobody knows. $1? $4? $12? If the average laborer nets over IDQ 600,000 per month and the value (post-RV) becomes $1 to 1 IDQ, then that same person is netting over $600,000 US per month. He still nets the same 600,000 IDQ each month. Will his wages decrease? If the RV comes in at $4 (I'm just choosing a number at random), then either he will want to cash-in as well and purchase goods overseas. OR.... His new monthly disposable income of $528 will be reduced to 2112 IDQ. (That's $528 exchanged @ $4 to 1 IDQ = 2112 IDQ). OR... The chicken breast increases in price from $4.50 (5242.50 IQD) to US$5,242.50 @ US$1 = 1 IDQ. ... to US$20,970.00 @ US$4 = 1 IDQ. .... to US$62,910.00 @ US$12 = 1 IDQ. As for the $2 chicken argument, then we should be buying chicken breast and other products from Iraq since 'our' Dinar will much more buying power. How is it that the Dinar will maek millionaires outside of Iraq but not inside Iraq?

I just used $4. Since the pre-war value was $3.41 or close, I figured I'd round up. If you prefer $1 or $12, then calculate it with your RV number. $4 was not the point.

Did anyone ever think that the people of Iraq would also hold Dinars? Check this out http://www.numbeo.com/cost-of-living/country_result.jsp?country=Iraq $1 = 1,165 IQD approx. 2.2 pounds of chicken breast is $4.50 (year 2010) = 5242.50 IQD 5242.50 IQD revalue @ $4 = $20,970.00 Will the price of chicken breast also increase? Median Monthly Disposable Salary (After Tax) $528.75. That's IQD 615,993.75. After $4 RV = $2,463,975 I could imagine that an educated Iraqi would take his Dinar to a bank and 'cash-in'. Receive over 2million US dollars. Then what? Stay in Iraq and live the life of luxury? Move to the US? Move to Switzerland? What would actually happen to the economy of Iraq if (when?) the Dinar revalues? Food for thought. And your chicken breast at $9,531 per pound you had better savor it.