Does anyone have solid evidence CBI buying up IQD in auctions?

[jupitergirl]

Gamble......the dinar is for use only in iraq. they dont have to except dinar from outside iraq. the cbi law gives them an out. gamble.....did you buy your dinar from a company with a securities brokerage license. they are they only ones allowed to sell as investments. money service business or msbs cant sell investments. so even though you bought real official dinar some may have obtained it illegally for investment purposes. which could be gamble number 2. Just a few risks off the top of my head.

RV or RD Iraq will mosy likely trade on the forex......giving us much liquidity......they have TONS of bussiness a head. That being said they cant do it on there own...cement from cemex, power plant from siemens on and on. Imf wants them to go to a one currency system. They have said they want to be an international reserve currency. RD or RV they will be on the forex!

[truthful1]

RV or RD Iraq will mosy likely trade on the forex......giving us much liquidity......they have TONS of bussiness a head. That being said they cant do it on there own...cement from cemex, power plant from siemens on and on. Imf wants them to go to a one currency system. They have said they want to be an international reserve currency. RD or RV they will be on the forex!

Agreed. it will be on forex eventually. Wanting the dinar to be a reserve currency doesnt make it happen.. it will be a reserve currency when countries see it as stable and have enough faith to back there own currency with the dinar. would you want the us bdollar backed by dinar, when civil war is a possibily. probably not. itll take years to gain faith in iraq before a reserve currency happens

[keepmwlknfny]

RV or RD Iraq will mosy likely trade on the forex......giving us much liquidity......they have TONS of bussiness a head. That being said they cant do it on there own...cement from cemex, power plant from siemens on and on. Imf wants them to go to a one currency system. They have said they want to be an international reserve currency. RD or RV they will be on the forex!

There is actually a greater chance it wont be on forex if it stays a pegged currency....

[lotsofdinar]

It makes no sense for a country whose exports are 90 percent oil to float their currency and trade on Forex. It is illogical. It makes even less sense for anyone who hopes to get a windfall in U.S. dollars from an Iraqi RV to want that currency not pegged to the dollar.

Edited January 26, 2012 by lotsofdinar

[truthful1]

You are assuming Iraq is in control of this RV, even though they are a client state of the US, recently invaded, uder UN watch (read: US watch) and totally controlled by gigantic Western business interests.

That's a might big assumption.

Hey Raincloud - was that your Indian name?

These businesses selling dinar are registered with the US Treasury Department.

What proof do we have of this?

I am being a raincloud. my apologies for not being more positive. its just one of those days. Im hopeful overall for a good return, with no problems on cash in. The potential return outweighs the worst risk.

[20MillionDinar]

There is definitely proof that the CBI is indeed selling USD and purchasing IQD from the participating banks in Iraq.

HOWEVER, there is no proof that they are removing the IQD from circulation as of yet. IF, there are any 2011 bank notes then they are more than likely NOT REMOVING CURRENCY from circulation as of yet. Why print and destroy?

If there are no 2011 notes in circulation it might be safe to assume that they are planning on reducing currency in circulation just by the fact that Iraq is a cash based economy and the currency has a short life span as it is.

If we see more gradual increases in the value of the IQD then we also might see the reduction of currency in circulation, I personally think they would go hand in hand if their real intention is to raise the overall purchasing power of their currency.

The above is all just my opinion, take it for what it's worth.

[zul]

And added to the Agency for News: The strategy is based on the principle of gradual substitution of the Iraqi currency with another, less three zeros, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade. He continued that the deletion of zeros from the Iraqi currency will depend on the long-term monetary policy.

They are substituting old currency with new currency, gradually....~ simply means remove old currency (with 3 zeros) and introduce new currency (less 3 zeros). And they have been doing the removing part for a while now.