THOUGHT I UNDERSTOOD...

[tampabay]

Please straighten this out for me.

I have been going along for the last several years thinking one way and then I read a post several weeks ago that totally threw me for a loop.

When it states that the Iraqi Dinar Note will RV at 1.17 (just using for example) I understood that to mean:

1 Iraqi Dinar Note will equal $1.17 US Dollar

The post that I read stated it as this:

1.17 Iraqi Dinar Note will equal $1.00 US Dollar.

For 1 million Iraqi Dinar Notes, that makes a lot of difference. It could be 1.17 million US Dollars or it could be $854,700.85 US Dollar (1,000,000 Iraqi Dinars divided by rv amount 1.17 equals $854,700.85 USD)

I keep thinking about this and now I am not really sure how it should be calculated.

Please, someone tell me the correct way to calculate.

Thank you very much.

Tampabay

[Nelg]

I'll take a stab at this and maybe it will prime the pump for more discussion.

I hold 1Mil IQD. At the exchange you will be buying USD with your dinar. If the IQD RVs by moving the decimal on their current price of 1166, it would become approximately 1.17 IQD per USD. Then you are correct, the price would be $854,700 USD.

But if the RV is 1 IQD per 2.50 USD, then you would have 2,500,000 USD. (Less the bank fees.)

We are waiting for the latter.

Personally, I would like to see 4.41 USD per every 1 IQD.

[securityguy]

Someone please step up to the plate and please answer this persons question. I have been wondering the same thing. As Adam pointed out to me, we may have to swallow up to a 25% spread also. (the buying rate will be up to 25% less than the selling rate..The Spread) Then you have to satisfy the taxes. Maybe anouther 25%......Easy to see 50% gone before we spend a penny.

[Tirebiter]

Someone please step up to the plate and please answer this persons question. I have been wondering the same thing. As Adam pointed out to me, we may have to swallow up to a 25% spread also. (the buying rate will be up to 25% less than the selling rate..The Spread) Then you have to satisfy the taxes. Maybe anouther 25%......Easy to see 50% gone before we spend a penny.

Right now I'd be happy to pay $.50 on the dollar if it RVs at 1:1. jmo.

[mrwhitewolf69]

To add to your ???

I have thought for many years that I would be rich when it RV'S

now all this other stuff about redenomination Has me confused

Are we still looking at making money on our investment

[Nelg]

Right now I'd be happy to pay $.50 on the dollar if it RVs at 1:1. jmo.

Ditto. That would be a great return, but I'm wanting more.

[tampabay]

Thank you for all of your responses. I'm glad to see that I am not the only one having questions about this.

[rulesforrebels]

I'm not sure who your referring to when you say "when they say it will rv at 1.17" but I'll take a stab the the rate part.

It seems like when a currency is stronger than the dollar it's written as 0.8547 which means your US dollar will only get you 85 cents in that currency. When a currency is weaker than the dollar it's generally written as 1.17. If you want to change the figures just do 1 divided by either 0.8537 and/or 1 dividd by 1.17 and you will get the other.

My thought would be if the rate is presented as 1.17 you would get 1.17.

people often get confused by the decimal though so i think when people exchange they tell you 1.17 because you then know you have to give 1.17 to get 1.

[securityguy]

Mrwhitewolf69...Rich is very reletive. To some folks rich is having all the money they want. To many in this and other countries I am already rich as I have good health and just enough coming in each month to break even. At the current rate, that won't last long.

To me, rich would be to be able to lead a reasonable life and never have to worry if there is going to be enough money to meet all your needs and have a little extra to travel a little and help out some friends and family.

My wife says she has it all refined even a little better. She says," I only want one thing, that's my own way"

[tampabay]

Rulesforrebels --

I was only using 1.17 as an example. I have actually read many different rv rates over the past few years. Anywhere from .86 to 12.00+. I guess my question boils down to this:

Whenever we read that the Iraqi Dinar Note will rv at an amount -- any amount -- does that rv amount refer to the value of the Iraqi Dinar Note or does that rv amount refer to the USD. I was always of the opinion that the rv amount referred to the USD. If the rv amount is 3.22, it makes a huge difference as to which it refers -- Dinar value or USD.

Thanks.

[WorkerBee]

To add to your ???

I have thought for many years that I would be rich when it RV'S

now all this other stuff about redenomination Has me confused

Are we still looking at making money on our investment

An Rd is only one option, from what I understand from those who have done a lot of research (Keep) It's not their only option. Depending on the amount you have, it may not be the millions we first thought of but, we could make a good return. Let's hope.