The Iraqis have clearly stated that they want to improve the value of their Dinar. I cannot see how a lop achieves this.
I can see how they can reasonably quickly improve the rate against the US and then introduce the new currency which has less zeros.
Iraq must increase the value of their currency significantly to do what they want to do and be who they want to be. They know that they are on the verge of an oil boom and how valuable and ( currently) indispensable oil is to this world. Thats why I got into this investment a few years ago. Iraq is a growing economy with massive untapped wealth which is opposite to most western countries who are pretty much tapped out and have little room to improve or worse. As bizarre as this may sound, I believe my money is safer in Iraq than in most western banks. I am not aware of one bank in Iraq that suffered or went under in the sub prime crisis which cost many people their savings and worse.
I am picking around August for the start of movement on the Dinar. They should be out of the confines of Chapter 7 by the end of June or start of July which all things been equal should get them going.
Iraq is notoriously slow to get things sorted.
I also see massive buying pressure on the Dinar once it starts to appreciate. This will create a bull market effect. I also do not see the new currency being ready by then. So it will be the existing currency going up and being traded.
The problem I see with this scenario is that because massive amounts of IQD currency will be in demand due to world wide speculation, way bigger than what we currently have, there will be a massive corresponding sell down which could crash the Dinar as quickly as it goes up. And this could be with the same currency that we have now.
Cant say its a boring investment. And yes I have been waiting for some time and watching the pumpers with interest just like the rest of you.
And as one of you say "I didn't know waiting took so long" but it has to be that way.
