Fi3ry_Ph03n1x

Just a wild guess on this one: Could they intend to slowly ramp the value up to 1,000 IQD per USD in June so that they could then redenominate 1,000x and have a straight 1:1 neutral value exchange? I have heard talk about June before, and that would still leave six months to get all the old denominations out of circulation. FP

Am I Mr. PF? I don't want to ignore you if your comment is meant for me. (If so, I usually go by FP). If, in fact, you did mean me, I never suggested that you listen to everyone on here, or that you don't do your own research. I just said that I forgot to include your response as an option in my poll. Maybe a bit on the defensive side lsvet. Ratchet it down a couple of notches. By the way if you are asking me to put up or shut up, here is a list of all the info I've "put up" so far. 16 posts so far? We appreciate your contributions. FP (aka Phi3ry_F03n1x, apparently)

Some of us still remember Alfred E. Neuman. An informed and thoughtful position you've come to, K98! Thanks as always! FP

Your comments are diamonds in the rough. We need your input in the original thread. It's already three pages long and this is all right up its alley. Here is the link: http://dinarvets.com/forums/showthread.php?12567-Dinar-News-from-another-site

Thanks for the post, but OaklandXXX beat you to the punch. This is already being discussed in this thread. FP

Oh, shoot lsvet! I'm sorry that I forgot to include this option in the poll. I should have had "D" be, "Believe in the dream or sell and stop bothering me." My Bad, FP

The question is: As this story doesn't seem to support an RV, it must be (choose your favorite comment): A. A bad translation B. Misinterpeted C. An intentional smoke screen, or D. All of the above. Couldn't just be info that we don't want to hear. Too simple of an explanation. ********** So far, the audience poll results are: Mr. Phonics, (A) Bad Translation Bubbie, © Smoke Screen emgee, (A & Bad Translation and Misinterpreted Joe P, © Smoke Screen, with some conspiracy theory mixed in? Timsters, © Smoke Screen, with "the missing link" Dweave69, © Smoke Screen hablrob, © Smoke Screen clkelle, ( Misinterpreted Well, the audience seems to think C, "Smoke Screen" is the right answer. Next, I think I want to use my "Phone a Friend" in CBI's middle management. FP

Interesting point you make Barbann. In Alaska, all residents get a pay check once per year from revenues generated from oil production. It's usually $1,500 to $2000 per year. Just imagine what an average Iraqi would get from the third largest oil producing nation in the world! FP

Barbann, thanks for your link to this story. Very informative and, I agree, much more in line with the news stories that have been coming out recently. By the way, I think I misunderstood your point about the translations. I didn't know you were making a general point; I thought you were talking about this particular news story. Apologies! This one is a doozie though! Well worth the read. Thanks again! FP

(Tongue in cheek) As this story doesn't seem to support an RV, it must be (choose your favorite comment): A. A bad translation B. Misinterpeted C. An intentional smoke screen, or D. All of the above. Couldn't just be info that we don't want to hear. Too simple of an explanation. FP

Kudos to Steven527 who pointed out that some pertinent info was missing from Enorrste's evaluation. Even though he says that Shabibi's info is post-RI, the actual news story says 1,170 Iraqi dinars per dollar right in the article! Here is a link to Steven's post (good catch, my man)! Here is a link to the original news story! FP

But BarbAnn, it wasn't Google Translator or anyone with RV on the mind who did the translation. The news service itself conducted the translation, and this is their primary business, providing news to companies such as Deutche Bank (SP?) American Express, The World Bank, and many others. Just reading the 'about us' page from Zawya and observing their grasp of the English language, coupled with the fact that they specialize in providing news of the Middle East to English speakers (and probably other languages as well) tells me that they have all the credentials needed to be trusted for an accurate translation. Now, I am totally with you on articles that are written in broken English, which shows that it was run through an online translator and brings the text into more question. I get that feeling too, and totally understand your point in general. FP

I'm not sure why there is a big hang up about the translation of this article. It was written in English by a news outlet that specializes in writing news about the Middle East and dispatching this news throughout the world. This is a professional news organization, making a business out of providing news and information about the Middle East. Check out their info in Post #6 from this thread if you haven't seen it yet. Netinfo could perhaps find the same article written in Arabic and compare the two. I personally don't question the validity of the article, but it seems to be on others' minds. NI: You should never have come out with your special insights and aptitude. Now you will be hounded for free translation services from now until the RV/RI/LOP! (Which could be anywhere from 24 hours to five more years worth of service, bro!) FP

Dgreen: Thanks buddy... I see what you are talking about from the original post. Good point! Either way, I still feel like BarbAnn -- that substituting words in to clarify your own point is not a reasonable way to draw any conclusion except the one to which you want to arrive. Stating that "Maliki is saying..." or "Shabibi is stating..." and then inserting your own words to clarify what they are saying is not at all a beneficial way to interpret their meaning. The best method is to read it and adopt the simplest and most obvious interpretation of what is being said. (Occam's razor, anyone?) Thanks for the clarification, DGreen! FP

For once, I can sincerely say that Steve is Right! (Disclaimer: You must click the link before asking me why)

The original story is written in English. By the way, I also hope Steve is right, so don't let my pessimistic attitude fool you. Just because I disagree with Steve's analysis doesn't mean that I'm not also hoping for the best here! Thanks for your post, zoomzoom. Here is a bit about Zawya, the company who provided the news story, copied straight from their website "About Us" link: ********** About zawya Zawya is the leading Middle East business information company serving the high-end business and financial professional community. Headquartered in Dubai, Zawya has sales and support offices in Lebanon, Kuwait, Malaysia and Singapore serving a global user base of over 212,000 high end business professionals. Zawya covers detailed information on the top 10,000 companies in the Middle East with comprehensive live news coverage through the exclusive Zawya Dow Jones newswire service. Furthermore, the service provides industry news, macroeconomic reports, country statistics, stock market data as well as specialized databases such as IPO, Sukuk and Private Equity monitors. In addition to subscription services, Zawya offers advertisers the ability to target the most affluent online audience with an interest in the MENA region. Zawya’s online service caters to and attracts only serious professional users and decision makers as it has the only fee paying user base in the region. Some of Zawya's prominent clients include: Abu Dhabi Investment Authority (ADIA), Merrill Lynch, Morgan Stanley, HSBC, Deutsche Bank, ABN Amro, Shuaa Capital, Arab Banking Corporation, Emaar, McKinsey & Co, Ernst & Young, Standard & Poor's, KPMG, Booz Allen Hamilton, US Treasury, United Nation (ESCWA), the World Bank (IFC), BMW Middle East and American Express. ********** I think that they have a pretty good handle on the English language and it looks like they have a ton of experience in reporting on the Middle East. I trust the translation as much as Steve does. FP

I agree with the part where he says "You're not going to believe this!" Actually, I do agree with Steve that there does seem to be a lot going on in Iraq that gives us all good reason to watch the IQD with hope of good news. I jut think that his analysis is obviously biased and overreaching to try and come to a conclusion that is not inherently contained in the actual news story. FP

In Enorrste's recent post, with his interpretation of a news story about Maliki and the IQD, he starts by saying: Let the record show that Steve and I do agree on something. Prophetically, you were right, Steve... I don't believe it. When one doesn't read a news article with an intention of proving that an RV is coming, but instead tries to interpret what is actually being said, a reasonable person would have a more balanced analysis. And I do have the gall and audacity to consider myself a reasonable person, apparently. With no preconceived theories to prove in mind, here is my analysis of what Maliki is actually saying: ******************* Maliki says here that, in order to re-evaluate (meaning "reanalyze", not "revalue") the IQD, there are economic conditions that still have to be strengthened, and that the Iraqi government is in the process of making these evaluations. Notice that he doesn't use the past tense and explain that the economy is already strong. We all know that this is not true. He says, "have to be" as in "still needs to be accomplished". The country is in shambles, and when economic indicators show more strength, there will be a more positive evaluation/analysis of the IQD. This follow up statement tells me that Maliki is optimistic about the future of the IQD, believes that the economy will continue to strengthen due to development and increase in revenues. I suspect that the revenues he is referring to are the IMF loans that Iraq has received. An "increase in revenues" is money coming in from an external source, so this is certainly no reference to the exchange rate which would be an internal development. He is also probably being optimistic about the new budget, and positive developments with the UN and the IMF in general. The government would not rush matters? An RV at 3.22 in the next week is Steve's idea of "not rushing matters"? No, sir, they are going to "work on finding all the guarantees to render this measure a success. Notice in Enorrste's original post, he skipped over the "work on finding" part of his red highlighted text and impied that they already have guarantees to render this measure a success. "Work on finding" is easily interpreted. Maliki is saying that they haven't found or accomplished the guarantees for success, but that they are working on it. Notice in a previous post how Steve has conveniently redefined "currently" to mean a new exchange rate rather than the obvious interpretation of the current (read: what is actually posted right now) exchange rate? Yet, they use the word "is" in the sentence, "The IQD's exchange rate is suffering..." Well, Steve, is the curent rate suffering, or is the current rate a new RV'ed rate? We can't have it both ways. If Maliki is talking about a current rate meaning an RV'ed rate, then why is it suffering from "low value", and yet he still talks about it in the present tense? The "policy of daily auction" is referring to the managed float that CBI has used to maintain stability of the IQD at the current rate that so many of you have identified as a current practice for a couple years now. And in this last quote we see that economists disagree with the CBI's use of the managed float because it prevents the currency's value from finding its natural homeostasis with economic conditions in the country.

Sorry for the uber-pithy post, but I've got to get to work in a minute. Just a quick point before I go: Enorrste says, "As far as I know this is the first time that Maliki has made a direct statement on the possible revaluation of the dinar." This article doesn't say anything about a revaluation. It does say "Re-evaluate" as in, re-analyze. I can see how we can hope that a growth in the value of the IQD could mean an RV. I hope for it too. But the IQD grew in value from 3000:1 USD after the first gulf war to its current value of 1170, it accomplished this growth with no RV. So growth in value of IQD doesn't necessarily mean an RV. Hopefully it does, though. FP

Phonics, first of all, it's strange that I have to reply to myself in order to reply to your message. It trips me out a little to have your comment on the top of my post. Magic mod powers at work. The last thing I take Possum for is serious. Maybe my post is being misunderstood. Possum was obviously joking, but people take their religious beliefs seriously, and I think it is important to respect that. There are plenty of examples on this site alone where people have incorporated their religious views by expressing how they would use their money for good things in the event of a revaluation. So I know that there are plenty of people who find this highly offensive. I personally am a Christian, but not easily offended, so I'm not really speaking on my own behalf. I'm just saying that there are acceptable standards of how to behave in public, and Possum's actions are not an example of said standards. Obviously, from some of the comments, there are people who don't mind at all making light of other people's religion. This is just my opinion. FP

Fiery Phoenix, I can't believe you take this man seriously, he's a joke! I'll tell you what I tell everyone, he's sitting in front of his computer laughing at you. ~Phonics I don't mind people talking about their legitimate religious beliefs here, but heretically twisting biblical scripture and applying it to a financial investment is offensive. You are crossing a line in acceptable public discourse, Possum, and it's not making me laugh. FP

Great post. Thanks Steve. I mean Jonathan FP

already posted, buddy. Check out the news forum for commentary already in progress.

How does the uncirculated Dinar that CBI is holding affect the scenario, sonny1? You're right, they do hold a lot if IQD in the vault (partly to use for controlling the exchange rate at 1170). I just don't know how that would affect the value of the currency, the reserves, or anything else in this explanation. FP

LOL! Krucialmix FTW!