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Could the RV be delayed till 2013.


Luigi1
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From another site...Iraqi News....On: Saturday 07/04/2012 13:32

Expert: the time is perfect for the deletion of zeros from the currency of the instability of political situation.

Baghdad (news) .. Economic analyst warned Ibrahim al-Mashhadani, the implementation of the project to delete the three zeroes from the Iraqi currency early next year, being an important project needs to be political and economic stability in the country more when applied.

He said al-Mashhadani (of the Agency news) on Saturday: The time set by the Central Bank for the implementation of the project to delete the three zeroes from the Iraqi currency and due early next year is not ideal and needs to reconsider it, because it is a project task is sensitive and can not be passed through a period of time a few, he needs to a longer time to study it in detail and find out pros and cons to avoid economic problems may occur because of it.

Could the RV be delayed untill early 2013. Is this just disinformation to discorage IQD investors? Your thoughts on all this.

http://bit.ly/HqgVBs English version is available on another site.

My personal feeling on this is Iraq wants to call back as many 25K IQD as possible to be be retired & taken out of circulation. This allows CBI more flexibility when the RV finally comes. Discoraging investors to cash in their losses now will work to their advantage. Hold fast. That's what I'm doing.

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Nobody knows when this will happen....when and if it does, great...hope for it, just don't expect it, and you'll be just fine.

Changing the timeframe can take it's toll on the investors. In recent weeks we heard April, June, September & now 2013 timeframes coming out of Iraq.

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Luigi, what do you think will be the outcome of all this? Do you feel we will make a large return on our investment or just 3X?

BTW, I agree with your assessment, but I do have one question: If people cash in their dinar by selling it, it won't necessarily go back to the CBI is it merely changes hands with locals (ebay, dinarvets, etc.) And if one sells back to the dealers, I would assume the dealers keep the dinar to sell back. My question would be is how much are the dealers exchanging back for USD and how much IQD is making it' way outside of Iraq's borders into the hands of common people.

Or do you mean investors within Iraq? Then I understand perfectly your reasoning.

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Luigi, what do you think will be the outcome of all this? Do you feel we will make a large return on our investment or just 3X?

BTW, I agree with your assessment, but I do have one question: If people cash in their dinar by selling it, it won't necessarily go back to the CBI is it merely changes hands with locals (ebay, dinarvets, etc.) And if one sells back to the dealers, I would assume the dealers keep the dinar to sell back. My question would be is how much are the dealers exchanging back for USD and how much IQD is making it' way outside of Iraq's borders into the hands of common people.

Or do you mean investors within Iraq? Then I understand perfectly your reasoning.

I believe CBI will try to call back as many big notes as possible. This will better help CBI support the rate. Just my view...I believe the IQD will RV between .10 cents & .30 cents at first. The IQD will float over a two year period till it is par with other Gulf States currencies. Iraq will be able to cope with the RV as the economy improves. The 1 to 1 par to the USD is just a benchmark target rate. Their long term goal is $4 USD to 1 IQD or near today's KD rate.

Sell some at first to get you by. Hang on to some over time or when the cutoff date expires for a better rate.

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Changing the timeframe can take it's toll on the investors. In recent weeks we heard April, June, September & now 2013 timeframes coming out of Iraq.

It may have been decided for happening in 2017 ( just to name a year) for all we (are allowed to) know... The fact we do not know anything about it makes it somehow more bearable / acceptable for us investors.... We're dragging it on day after day.....

I for one would have expected it to be a done thing a lot before than this when I bought into it in 2004.

But instead here I am after 8 years....

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Changing the timeframe can take it's toll on the investors. In recent weeks we heard April, June, September & now 2013 timeframes coming out of Iraq.

That's why I quit paying attention to their press releases long ago..all they do is contradict one another. Waste of time following Iraq news. When something they say can be corroborated by the UN, IMF or an accredited 3rd party, then I sit up and take notice. Until then, it's pretty much a media free-for-all over there...you will drive yourself nuts trying to follow/decipher the river of lies from their media machine.

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They have stated that they want the new currency they printed and are printing to come out in Sept . They also want to instate the RV at the Beginging of a fiscal year. The 2013 Budget is already written up , but not approve yet with the new currency and RV in it! I do believe the RV will take place anywhere from Sept to Jan 1st 2013 which is the end of there 10 year plan which started the begining of 2003.

We all want it now , but from what I've read from legal doc's to news reports the timeline I gave seems to be the only Timeline that makes sence!!! Still doesn't mean it will happen then , this is Iraq and there fighting over the HCL again and I believe is the only thing holding this up now! ;)

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I believe CBI will try to call back as many big notes as possible. This will better help CBI support the rate. Just my view...I believe the IQD will RV between .10 cents & .30 cents at first. The IQD will float over a two year period till it is par with other Gulf States currencies. Iraq will be able to cope with the RV as the economy improves. The 1 to 1 par to the USD is just a benchmark target rate. Their long term goal is $4 USD to 1 IQD or near today's KD rate.

Sell some at first to get you by. Hang on to some over time or when the cutoff date expires for a better rate.

Luigi,

I was gonna ask for your opinion and thanks for the answer :)

Love to hear it from Luigi boy... :) I take your opinion anyday and can I run to the bank with it now..? lol lol

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The RV has been delayed for the past few 5 years, what makes you think another year or two is going to matter.

Read the posts from 3 or so years ago, same misinformation, same BS, same reasons for a delayed RV, just new dates..

Honestly, if the RV does not pop by the first of next year or sooner I will not waste anymore time on this, I will put my dinars

aside until get the message from Adam that the dinar has RV'ed

By the way, I purchased my initial dinar from Chase in 2005

B.

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Proof of the RD by Sept, IMO, and by Jan we will see the replacement notes. The CBI and GOI and that point will have given us clear proof for over a year since June 30th 2011 that it has always been their intention. Liability covered based on a year of clear notification. :blink: It's all part of the educational campaign, I know it's hard to get those crazy Iraqis to believe the CBI and stop stuffing their mattresses with hard currency, but the CBI is doing their best.

Edited by genevieve
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Proof of the RD by Sept, IMO, and by Jan we will see the replacement notes. The CBI and GOI and that point will have given us clear proof for over a year since June 30th 2011 that it has always been their intention. Liability covered based on a year of clear notification. :blink: It's all part of the educational campaign, I know it's hard to get those crazy Iraqis to believe the CBI and stop stuffing their mattresses with hard currency, but the CBI is doing their best.

Exactly. The article is talking about the RD happening in 2013. In Sept it will be formally announced with the bills shown and the formal education campaign (as opposed to all these articles) will commence so come Jan the Iraqi's will know whats what wrt the new currency. So no the RV won't be delayed as just won't happen at all.
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Exactly. The article is talking about the RD happening in 2013. In Sept it will be formally announced with the bills shown and the formal education campaign (as opposed to all these articles) will commence so come Jan the Iraqi's will know whats what wrt the new currency. So no the RV won't be delayed as just won't happen at all.

If / Once they announce the RD AND release the smaller bills into circulation, I'm outta here!!!

Edited by 20MillionDinar
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If / Once they announce the RD AND release the smaller bills into circulation, I'm outta here!!!

I would expect official announcements with pictures of the bills and clear (at least in Arabic) explanations of exactly how it will occur (just like has occurred elsewhere) before the new currency is actually available. And I'm not saying you meant them to be simultaneous, but only that the more certain the RD becomes in the minds of investors, the lower the price of dinars will go, down to the base CBI exchange rate.

So I would expect a big drop and lots of selling when the RD is formally announced (they claim in Sept) despite the new currency not being available yet. Even if they RV up 16% or 20% or so during the co-exixtence period, such that the new-dinar will be at $1 even, or a little above, it is unlikely that you will actually get that in exchange. Though you can get the equivalent now (i.e. 1000 IQD per $1 USD). If no RV occurs at all so the new-dinar is at 0.86 USD, then you'll only be able to get that minus the spread. The spread for the new-dinar, presumably available from major banks at this point, might not be that big. But IQD might still only be exchangable at dealers where the spread, at least in the past, has been huge. So you have to weight the odds of those events (and, if you think it possible a larger let alone huge RV) with their outcome, to see if you want to stay.

My analysis was

RD: certain

RV to put new-dinar at $1 USD (i.e. todays IQD rate of $1000/M), unlikley

RV enough over $1 to allow me to get at least $1.20 (i.e. break even) very very unlikely

thus I sold out now at $1000/M IQD despite having bought at $1200/M .

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I would expect official announcements with pictures of the bills and clear (at least in Arabic) explanations of exactly how it will occur (just like has occurred elsewhere) before the new currency is actually available. And I'm not saying you meant them to be simultaneous, but only that the more certain the RD becomes in the minds of investors, the lower the price of dinars will go, down to the base CBI exchange rate.

So I would expect a big drop and lots of selling when the RD is formally announced (they claim in Sept) despite the new currency not being available yet. Even if they RV up 16% or 20% or so during the co-exixtence period, such that the new-dinar will be at $1 even, or a little above, it is unlikely that you will actually get that in exchange. Though you can get the equivalent now (i.e. 1000 IQD per $1 USD). If no RV occurs at all so the new-dinar is at 0.86 USD, then you'll only be able to get that minus the spread. The spread for the new-dinar, presumably available from major banks at this point, might not be that big. But IQD might still only be exchangable at dealers where the spread, at least in the past, has been huge. So you have to weight the odds of those events (and, if you think it possible a larger let alone huge RV) with their outcome, to see if you want to stay.

My analysis was

RD: certain

RV to put new-dinar at $1 USD (i.e. todays IQD rate of $1000/M), unlikley

RV enough over $1 to allow me to get at least $1.20 (i.e. break even) very very unlikely

thus I sold out now at $1000/M IQD despite having bought at $1200/M .

You are correct with your assessment which is why I actually dumped the majority of my holdings during the past few months. Once the RD is official everybody will be looking to sell and the dealers will be in control of how much they are willing to pay.

There will be very few, if any, buyers at all. Even if it RD's then RV'd to $1.50 all potential profit will have been eaten by the spread and fees charged by the dinar dealers.

Bottom Line: If the IQD RD's and then they decide to DOUBLE their purchasing power making 1 IQD = 2 USD, there will not be any profit for physical dinar holders due to spreads, wire fees, shipping fees, etc...

I was fortunate to have purchased my Dinar at $900 per Million and $950 per million all un-circulated back in 2006. I actually made a tiny profit...

Edited by 20MillionDinar
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this is like asking wil the world end on december 2012, many predict it but its all speculation just like the RD no one knows. The media over there is really bad and lots of misinformation comes out of there. We al have to take these articles with a grain of salt.

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