Articles Becoming More Clear and More Frequent

[Legolas]

It seems that almost every day now, the articles are becoming more clear in their description of the pending redenomination, implying that it has been approved, or is about to be, and that contracts are being issued for the design and printing of the new currency with as many as four different countries, to begin early next year. They are describing new 1 ,2, 5, 10, 25 ,50, 100 and 200 Dinar notes, as well as 50 and 250 fil coins. It's impossible to deduce an exact value from those numbers, but somewhere around $1 U.S. Dollar would seem logical, given the existence of the 200 Dinar note.

Contract with four international companies for the printing of new currency

Friday, March 23 / March 2012 09:47

MP / Kurdistan Alliance bloc / Mahma Khalil, all contracted the Iraqi Central Bank with (4) known international companies for the printing of new currency for the printing of the new national currency after you delete the zeros of which, describing the project to delete the three zeroes from the currency as "successful" and the time is ideal for replacing them. Khalil said (of the Agency news) on Sunday:

The project to delete three zeros from the local currency is one of the important projects and at all levels, whether for economic or security to the country, pointing out that the topic of the program by the central bank and a good time to replace the ideal currency, which will be early next year. He pointed out: that the central bank has contracted with (4) well-known international companies, and solid in the field of international currency printing, without giving their names or nationalities, saying: that it is too early to announce the nationalities of those companies. Khalil added: The new currency will be a high specification and have the properties of security is very high is not as easy to be forged, in addition to the federal government has (25) organ The allergic and high distinguishes new currency counterfeit of good as well as import (25) another ATM by the central bank to detect counterfeit currency, calling for attribution and support this project because it will reform the Iraqi currency by reducing the money supply raised in the local markets. The Attorney-Khalil: The new currency will consist of the categories (1, 2, 5, 10, 25 and 50, 100, 200) dinars, as well as small metal groups (50 and 250) fils. As revealed deputy governor of the Central Bank of the appearance of Mohammed in favor of the existence of safety properties of high-tech and scientifically advanced in the new Iraqi currency after deletion of zeros of the three of them. Saleh said in an earlier statement that the Central Bank of Iraq has reached advanced stages of preparations for the mission logistics project to delete the three zeroes from the Iraqi currency, and after obtaining approval from the federal government to implement it will be working on a larger scale because it is a legitimate strategic interest to the general of the Iraqi people.

http://hammdann.net/...37-36&Itemid=73

Edited March 23, 2012 by Legolas

[dinar-racer]

While I believe that a LOP is more likely than a straight up RV I am still hoping that these articles are just put out to get you and I to give up and get rid of our big 000 notes.that's what I would do if I were trying to pull in all the big notes prior to RVing.

[dinarck]

I still think they will bring it to .001 and then RD. That puts it on par with dollar. After the time period to exchange the old notes expires then they will slowly begin to increase the value if economic conditions allow.

[Legolas]

I still think they will bring it to .001 and then RD. That puts it on par with dollar. After the time period to exchange the old notes expires then they will slowly begin to increase the value if economic conditions allow.

What's your thinking there, DCK? I'm not sure I understand. Wouldn't it be easier, and cheaper to increase the value to, or above, $1 U.S. Dollar "after" re-denominating, rather than before? What do they gain by doing it before? Maybe I'm missing something important.

[dinarck]

What's your thinking there, DCK? I'm not sure I understand. Wouldn't it be easier, and cheaper to increase the value to, or above, $1 U.S. Dollar "after" re-denominating, rather than before? What do they gain by doing it before? Maybe I'm missing something important.

Well I think for the RD to be a sucess they need to introduce the new currency on par with the dollar. They can do this one of two ways. They can gradually raise the IQD rate to .001 like we have already read in a few different articles or they could do it all at once the day of the new currencies introduction. I think the second option would be too much of an increase to do overnight and may cause negative effects in the market which is what they dont want when trying to attemp a sucessful RD. The reason I think they wont come to 1 post RD is that they need the new currency on par at its introduction. This give the new currency a few advantages. One it gives confidence to it which will make it more attractive to Iraqis. Two it would make transactions simple which I think is something the CBI is really looking for to make the RD work. Three I think it would help with the dollarization issue. Iraqis I think would choose the new currency over the dollar if it were equal in value. All of these thing I believe need to be in place for the RD to work so I think they will not wait to do them.

[Legolas]

Well I think for the RD to be a sucess they need to introduce the new currency on par with the dollar. They can do this one of two ways. They can gradually raise the IQD rate to .001 like we have already read in a few different articles or they could do it all at once the day of the new currencies introduction. I think the second option would be too much of an increase to do overnight and may cause negative effects in the market which is what they dont want when trying to attemp a sucessful RD. The reason I think they wont come to 1 post RD is that they need the new currency on par at its introduction. This give the new currency a few advantages. One it gives confidence to it which will make it more attractive to Iraqis. Two it would make transactions simple which I think is something the CBI is really looking for to make the RD work. Three I think it would help with the dollarization issue. Iraqis I think would choose the new currency over the dollar if it were equal in value. All of these thing I believe need to be in place for the RD to work so I think they will not wait to do them.

Yeah, I agree. I just think it makes more sense to RD & RV simultaneously, for the purpose of avoiding confusion. If the NEW IQD comes out already valued at or near $1 USD, it seems to me it would be viewed with more acceptance, and more excitement. I would think that the fewer adjustments made, the better. But who knows?

[dinarck]

Yeah, I agree. I just think it makes more sense to RD & RV simultaneously, for the purpose of avoiding confusion. If the NEW IQD comes out already valued at or near $1 USD, it seems to me it would be viewed with more acceptance, and more excitement. I would think that the fewer adjustments made, the better. But who knows?

Well if in fact they are going to do it gradually all the way up until the new currency introduction then we should start seeing some blips. We have already seen one actually. 1170 to 1160. From what they are straight out telling us these jumps will continue. I still cannot believe they would announce that but I cant figure out how to read it any other way. They clearly say that they will gradually come to par with the dollar up until the new currency is released. It isnt that big of a jump but in the currency world it is huge. Crazy days. Guess we will see but I am pretty certain they will be on par with the dollar when the new currency is introduced. A jump all at once could be the case but again I doubt it. They would want everything stable the day the new currency came out. A jump of that size overnight could very well throw some things out of wack which could comprimise the RDs effectivness.

[RVPleaseToday]

With such clear statements of a huge, if gradual, increase in the value of the dinar, why aren't the big money players all over this? Seems like the time for them to buy in is before the value starts to rise.

Edited March 23, 2012 by RVPleaseToday

[jmw]

They could assign the 1 to 1 ONLY to the new currency...meaning you would trade old IQD for new at 1160 to one...then the new would be pegged one to one...this would cost the CHI less money and still put it on par with the dollar.

[dinarck]

With such clear statements of a huge, if gradual, increase in the value of the dinar, why aren't the big money players all over this? Seems like the time for them to buy in is before the value starts to rise.

Its really not that big of a jump. From 1166 to 1000. Or .00085 to .001. Yeah it doesnt seem like much but what is to keep someone like Soros from buying a trillion dinar right now? Seems like a sure thing. Who knows what is going on but it seems clear what they are saying.

They could assign the 1 to 1 ONLY to the new currency...meaning you would trade old IQD for new at 1160 to one...then the new would be pegged one to one...this would cost the CHI less money and still put it on par with the dollar.

So how many new would you get for 1 old? Seems like that would be a cluster you know what. Could be possible just confusing to an already confused population. I would think that all three currencies would have to be equal in value for everything to go smooth. I guess they dont really have to be but it would sure make everything much easier and pretty much ensure the RD goes off without a hitch so to speak.

[dvforumuser]

So how many new would you get for 1 old? Seems like that would be a cluster you know what. Could be possible just confusing to an already confused population. I would think that all three currencies would have to be equal in value for everything to go smooth. I guess they dont really have to be but it would sure make everything much easier and pretty much ensure the RD goes off without a hitch so to speak.

I agree. All prices in the market will have to be shown in old and new dinars for a time. making the exchange between then 1000:1 makes that very easy, everyone can compute that in their head. Making the old to new exchange be 1166:1, everyone needs a calculator for that.

[jmw]

So how many new would you get for 1 old? Seems like that would be a cluster you know what. Could be possible just confusing to an already confused population. I would think that all three currencies would have to be equal in value for everything to go smooth. I guess they dont really have to be but it would sure make everything much easier and pretty much ensure the RD goes off without a hitch so to speak.

basically it would be the same as how they treat the US dollar now...but instead of trading 1166 Dinar for

1 US dollar they would trade it for 1 New Dinar...so a 25,000 Dinar note would be worth 21 "new" dinars...and one new dinar would be worth 1 US dollar.

Just because they say they want the dinar to be equal to the dollar doesn't mean they have to get it to 1000 to 1 before they remove the zeros...they could leave it at 1160 and remove the zeros...I don't think they will do this because they seem to have the reserves to get it to 1000 to 1 either before or during the RD. But they could and it would save the CBI a wack load of their reserves.

Prices can be in old and new either way...again you can pay 25,000 old dinar or 21 new dinar.

Edited March 23, 2012 by jmw

[WorkerBee]

Its really not that big of a jump. From 1166 to 1000. Or .00085 to .001. Yeah it doesnt seem like much but what is to keep someone like Soros from buying a trillion dinar right now? Seems like a sure thing. Who knows what is going on but it seems clear what they are saying.

How do we know Soros or any whale isn't buying it up?

[dinarck]

basically it would be the same as how they treat the US dollar now...but instead of trading 1166 Dinar for

1 US dollar they would trade it for 1 New Dinar...so a 25,000 Dinar note would be worth 21 "new" dinars...and one new dinar would be worth 1 US dollar.

Just because they say they want the dinar to be equal to the dollar doesn't mean they have to get it to 1000 to 1 before they remove the zeros...they could leave it at 1160 and remove the zeros...I don't think they will do this because they seem to have the reserves to get it to 1000 to 1 either before or during the RD. But they could and it would save the CBI a wack load of their reserves.

Prices can be in old and new either way...again you can pay 25,000 old dinar or 21 new dinar.

All good points jmw. I could see how that would work. Hopefully ours will come to at least .001 but yeah I can see how they may want to avoid that just to save their reserves.

[dinarck]

How do we know Soros or any whale isn't buying it up?

We dont. I was just saying that if in fact they were telling us that they will come to .001 that really anyone with a billion dollars could buy a trillion dinar and make a lot of money. We really dont know how this will play out but its good to have intelligent people speculate on possibilites.

[HopefulTxn]

How do we know Soros or any whale isn't buying it up?

We obviously wouldn't know if they did or didn't... Maybe it is a good thing for us, or maybe not, that the only currency that Soros (his investment group, which seems to be no more) has ever shown to go out on a limb for was the British pound and he shorted it, not bet against its appreciation...

[20MillionDinar]

All good points jmw. I could see how that would work. Hopefully ours will come to at least .001 but yeah I can see how they may want to avoid that just to save their reserves.

Everybody has brought up some good points in this thread. I'm starting to think that we will see a LOP, however, I am still hanging onto the slim chance that they will gradually increase the value of the Dinar throughout the next few years.

One thing I can't help but think is, assuming they "LOP" then most (if not all) speculators will dump their Dinar holdings IMMEDIATELY. This will definitely put a dent into the CBI's reserves! I'm not exactly sure how much Dinar us speculators are holding but I would imagine it is over a trillion,maybe even close to a few trillion. I guess that is only a few billion USD, but that is still a pretty nice chunk of change.

Thoughts?

By the way, I have dumped most of my holdings, I just don't see this going down the way most of us thought it would. I personally chose to put my money to work NOW and not wait for something that MIGHT happen somewhere down the road...

Edited March 24, 2012 by 20MillionDinar

[cashman54]

20Million, I am kind of suprised to hear you say you don't think the dinar will RV anymore, especially after Adam's Drive by today???

[Mongo]

more clear?...........not the word I would use........but:huh:

[securityguy]

My biggest fear is they will come out with a very low RV, maybe .10 and attach a short cash in window like 90 days for large denoms. This would force many to cash their large notes in at a low rate or loose out altogather. Then after we cash in our large denoms. we will set and watch the IQD go to 1.00 and we loose out. 100,000 verses 1,000,000 value per 1,000,000 IQD

[TimS]

Not according to Adam this morning....

1:10 PM [Adam Montana] and I've refrained from ever leading people without having rock solid evidence of my reasons

1:10 PM [Adam Montana] so I'm not going to start now

1:10 PM [Adam Montana] but I think the l0psters are going

to be eating crow soon 1:10 PM [Dinarkicker] yessssss

1:11 PM [Adam Montana] I'll leave it at that for now, the "na-na-nana-na!" will come later

Read more:

[WorkerBee]

Not according to Adam this morning....

1:10 PM [Adam Montana] and I've refrained from ever leading people without having rock solid evidence of my reasons

1:10 PM [Adam Montana] so I'm not going to start now

1:10 PM [Adam Montana] but I think the l0psters are going

to be eating crow soon 1:10 PM [Dinarkicker] yessssss

1:11 PM [Adam Montana] I'll leave it at that for now, the "na-na-nana-na!" will come later

Read more:

Like I posted in Adam's thread,eating crow will not bother me. And if any here are so inclined.....Umbertino is getting negged for posting in defense of Lobsters in that thread,feel free to help him out. I still don't understand how someone's opinion can be so threatening.

[BigFrankD]

My biggest fear is they will come out with a very low RV, maybe .10 and attach a short cash in window like 90 days for large denoms. This would force many to cash their large notes in at a low rate or loose out altogather. Then after we cash in our large denoms. we will set and watch the IQD go to 1.00 and we loose out. 100,000 verses 1,000,000 value per 1,000,000 IQD

If your biggest fear is that you'll only make a 10,000% return on the IQD, I'd say youre not very realistic about the prospects of the dinar.

[Luigi1]

It would take at least a week to stock all the banks with the new IQD once they are printed, shipped in country & distributed. Even if it happened today...expect delays. Expect many banks not to be informed or prepared. It takes more than an exchange rate showing up on a screen to make it all happen.

[20MillionDinar]

20Million, I am kind of suprised to hear you say you don't think the dinar will RV anymore, especially after Adam's Drive by today???

Unless everything in regards to Iraq that is being published from the IMF, CBI and the GOI is completely false then there is a very slim chance that we will see a straight up RV of more than $0.10. This is a possibility...

I have always hoped that we would see consistent gradual increases in the value of the IQD but they pegged it for a good 3 years and haven't really done anything with it since. I would love to see small movements happen every so often!

Unfortunately there are numerous articles stating their intentions to "LOP" their currency, however, it is possible that this is all propaganda...

There are a lot of "what ifs" right now and I have personally decided to put my money to work elsewhere. I have been holding since November of 2006 and if I had doubled my initial investment every year since this is what it would look like.

$5k

$10k

$20k

$40k

$80k

$160k

$320k

Edited March 24, 2012 by 20MillionDinar