_RFJ

The IMF has been recommending diversification for at least the last three years. Hopefully this year they can actually get that going now that Maliki isn't stopping things. If only...

More money via an RV is a bit of a misnomer. The amount of dinar in the bank, under the mattress, and in the Iraqi sock drawer will remain exactly the same post RV as it was pretty RV. So, technically speaking, it won't be a more money situation at all.

Do you have any supporting evidence to your countries holding dinar line of thinking?

The dinar now and post RV is used as a means of exchange in Iraq only. Its not a hard currency. This concept of Iraq pulling an RV then paying their debt is, by and large, primarily spread about the community by those who don't really know what they are talking about. Not you, but those in the community with a voice, a la Tony, Okie, F26, et all. They'll be paying their debt with probably US dollars which they will be receiving every time they sell a barrel of oil. They will not be making good with IQD.

The reason why the budget is important is because we're looking for unification and stability. Those two things are the only things we know for sure are required for a rate increase. A budget, representative of all factions, Sunni, Shia and Kurd would be a step in this direction. Sure there's no rate in the budget. The budget, however, is the next step in the path of forward movement and we're pretty much sitting here just marking time until they get it done.

I've been reading your posts for about the last month or so and I must say... C'mon man. Just because it's not going to RV this weekend is no reason to not be happy with the news of late. We've seen more progress since the elections than we have in the last eight years. We're on the verge of an HCL for Gods sake. That probably won't happen this weekend either but at least we're not reading about the crisis between Bagdhad and Erbil on the daily anymore. Change your perspective, stop looking for the RV, and just await the next indicated step.

Being as the dinar is only for trade in Iraq how would the average Iraqi have trillions of them to spend overseas once they increase the rate? Purchasing power in country is really all the average citizen stands to gain because one dinar in Iraq is just that, one dinar in Iraq. Also as far as dollarization articles go all one need do is to just take a look at the daily auction reports from the CBI, right? You can see what they're doing. The currency will do one of two things; it'll go up or it'll go down. They're not going to just cancel out some notes, to leave you and me holding the bag, because it really doesn't work that way. I guess it could remain at .1166 for the rest of my life but then I haven't lost anything anyway. As such I'll keep my dinar because, be it 1 yr, 5, or 10, I think their goal is to move forward and based upon that, provided they don't blow one another up, I see only one way this thing can go; so looks like I'll be in for the long haul. Now, go ahead and destroy my post.

Ah, I see now... Thanks for setting me straight guys. I still think Blitzers post is a bit reactionary but I stand corrected on the VP issue.

Yes. I'm not really sure how it went down but there was an article out yesterday, or the day before, or the day before that, naming Sinead as a replacement for Maliki...Link: http://www.alsumaria.tv/mobile/news/110962/iraq-news

^Well Maliki isn't really in a "position of power" anymore. He is still the head of the State Law and an MP but being as the National Alliance has the majority seats he will be unable to block legislation as he has done in the past. Also if Abadi is a Maliki cronie then why isn't Maliki still VP? We just have to wait and see but I think your post is a bit reactionary.

So they're doing it? Please say yes.

Been away from the board for a bit but just having a read through of the replies and yeah I agree w this. The Kurds want their 17%. Its entitled to them. Maliki said he would, then he never did. Simple as that. The Kurds are interested in oil revenue enough to ship a tanker off to the gulf of mexico on their own accord regardless of what the Maliki government said they should do. To say that they don't care about this issue is, in my opinion, incorrect. Saw an article posted here today talking about how all the demands but two were agreed upon. Hopefully, they came to some form of an agreement on this. Time will tell though.

The Kurds have been lied to for the last 8 years by the Maliki government. I'd be presenting demands too were I them. I think it's great news because the demands include payment of forces, 140, and HCL. without those last two we have no RV so, demand away I say.

I guess my question would be even if they were able to hit the 76k total number of signatures required do you really think whoever it is is going to take said petition into account when deciding what to do or what not to do? Like "okay they got the signatures, guess we'll take him to trial." Does that make any sense to anyone? Furthermore, if these 23,891 people weren't all most likely waiting on an RV would they have even signed the thing in the first place?

Again, no problem. The Iraqi dinar prior to, and during the early years of the Saddam regime, did have a true value above that of the US dollar. At that time they were global players in areas of international trade, their main commodity being oil. The country of Iraq has made it well known of their intention to rejoin the globe as they were prior to Saddam. I'm no expert in global economics, in fact, far from it. But I know they can't do this under a dual currency system, and as such, will have to do something about the rate if they hope to get their citizens off of using the dollar. It is my belief, based upon a few years of reading, that that is exactly what they intend on doing and as a result await said change just like you.

^No problem. First off I'm very pro RV. The dinar did have a true and natural value above the dollar for years before Saddam. Then Saddam did what he did, went wild with printing the currency, so on / so forth, and as a result of that, the value of the currency naturally, and quickly, fell to $1 to 3000 dinar. I do believe that one day the dinar will return to its pre Saddam value. However saying the dinar was devalued by the international community is nothing but guru hype. Below you can read it straight from the mouth of the CBI... http://www.cbi.iq/index.php?pid=History 1990 - 2003 After the Gulf War in 1991, and due to the economic blockade, the previously used Swiss printing technology was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

^The Saddam notes were valued out of thin air by Saddam himself. They were only accepted in iraq and as such didn't really have any worldly value what-so-ever.

Just ran a whois search on The Iraq Journal and here's what I found... Registrant Name: Registration Private THEIRAQIJOURNAL.COM - Geo Information IP Address 50.62.66.1 Host theiraqijournal.com Location US, United States City Scottsdale, AZ 85260 Organization GoDaddy.com, LLC Fishy, to say the least.

Did a little research myself on this Breitling guy because I had yet to hear of him until now. Seems he's been caught pumping on more than one occasion according to a few pieces I read. So I typed The Iraqi Journal into google and, what do you know, it's totally endorsed by this Breitling fella'. He even goes so far as to make an "introductory post" about this website on his blog and calls it his #1, most reliable source for Iraq news. I'd supply links for you guys but not sure what the policy on that is around these parts but, just run the searches yourself, you'll see. Coincidence? I'm beginning to think not. Also as to the article the thing that disturbs me most is it appears to be translated from Arabic to English. At least that's how it reads to me. But there is no link to be found back to the original source where I could read it in it's original form. Not that I would be able to, mind you, I just often times like to verify that it does indeed exist somewhere in Arabic.

Most excellent, thank you.

Is there a thread on here with discussion on that last article TBomb brought in, 4 billion to 1 billion notes, that anyone could link me to please? I just scrolled through 2 pages in the news section and couldn't find it. Thanks guys!

Seems like just an advance on the money that will come once the budget is approved not because a result of an approved budget. I think it's all in limbo until 6/15 when we see the new government. New government is great news worth holding for though.

Yes. This is the exact thing that is going to happen again, only this time Maliki is in the same position Allawi was in last go round. Due to the Sainte-Legue system they are under, as voted for and used by Maliki to win out overv Allawi in the end, even though he won the pop vote he still comes up short.

Did I miss something? I didn't think Maliki one enough seats. The popular vote, yes. But enough to keep his power and beat the coalition, nope.

It's not depressing at all actually in light of this fact from the article... "But he still fell short of a majority, meaning he will have to win the support of rivals from across the communal spectrum, some of whom have sharply criticised Maliki and refused to countenance his bid for a third term in office." ​They've already made their alliances in preparation for this. I see a unified Iraq on the horizon we just need to be a little more patient while all this plays out.