STEVEI JUST CAME OUT OF HIDING

[hame55]

60 billion in currency? Try over 70 trillion. This makes your whole point mute. If they were to back their currency by the commodity of oil (which they would never do) they would do it POST redenomination. That means Iraqis get one new 25 note for each 25,000 note. Their M2 goes from 70 trillion to 70 billion and then they could go to an oil backed currency (which they would never do).

You say they have 30 trillion in assets which I don't doubt. Problem is they have over 70 trillion in liabilities. So come again with how they can increase the value of the current hyperinflated dinar by 1000 times.

Dinarck

"...your whole point MOOT," is the correct word. Not "mute."

What makes your point moot, and EVERY post you ever present to us all, is the FACT that you don't know if Iraq has 70 trillion dinar outstanding in circulation, in country or without....

So that's his point, and mine - you don't know if the numbers are true. You are believing a bunch of scheming politicians and their lapdog newshounds that those numbers are real.

So because you don't know, get off your HIGH AND MIGHTY throne and grovel with the rest of us. Stop hounding us with what you "know" to be true.

Of course we know it can't RV if they have to pay off 70 trillion. We aren't stupid. We just don't believe the numbers.

This is why you LOPPERS are swimming in the lobster tank...

Edited September 24, 2012 by hame55

[dinarck]

not sure i follow that "come again " 1000 thing .. where did i mention 1000 times anything .?

they have 60 billion dollars in dinar liabilities right now .. and they have 30 trillion in assets right now

There is over 70 trillion dinar in existence. Yeah it is worth around 70 billion dollars but it is in a hyperinflated state. Having 60 billion dollars worth of currency liabilities doesn't mean you have 60 billion currencies in existence.

All I am saying is why would Iraq back their hyperinflated dinar with oil when all they have to do is RD and then back their NEW currency with oil? It doesn't matter anyway. No country on earth would ever back their currency with oil because its price fluctuates like crazy on the open market which would cause havoc on Iraq's economy. What happens when innovations make vehicles run on ethanol or natural gas or who knows maybe seawater? There goes your currency.

[powerpager]

jump on out there whitey you bad !

[dinarck]

Dinarck

"...your whole point MOOT," is the correct word. Not "mute."

What makes your point moot, and EVERY post you ever present to us all, is the FACT that you don't know if Iraq has 70 trillion dinar outstanding in circulation, in country or without....

So that's his point, and mine - you don't know if the numbers are true. You are believing a bunch of scheming politicians and their lapdog newshounds that those numbers are real.

So because you don't know, get off your HIGH AND MIGHTY throne and grovel with the rest of us. Stop hounding us with what you "know" to be true.

Of course we know it can't RV if they have to pay off 70 trillion. We aren't stupid. We just don't believe the numbers.

This is why you LOPPERS are swimming in the lobster tank...

It's funny how anger is usually a substitute for common sense.

Why don't you do the math and see that a value of 1166 is perfectly supported by a m2 of over 70 trillion. Or maybe they have been selling dinar for less than 1/10th of a penny for years to try and hide the "RV". LOL

[dontlop]

what ever the case may be .. the dinars are pegged or backed by the us dollar .. and they say they have 67 billion dollars in foriegn reserves to back the dinar .. so .. they say they have 67 billion dollars worth of dinars wghat ever the number of dinars they have is irrelevant,, they have 67 billion in liabilities right now in dinars ... and they have trillions of dollars worth ofd assets .. now in the future how its converted is still a mystry .. we dont have all the facts .. but i personally believe if they are to have a big revaluation of the new dinar it would have to be backed by a commodity or a basket of commoditys .. like oil .. sulfer .. natural gas .. . i dont think the dinar will be kept atrificially low .. the united states has a trillion dollars in phisical currency .. but only hold 146 billion in foriegn reserves .. so theres a way that all these fiat currencys are backed .. and i believe iraq has the goods to back that 67 billion worth of currency that they have right now .. many times over ..weather it be 1000 times or 500 times or 154 times or 382 times .. im not sure .. but they are in the middle of bnegotiatons... or already have decided.. .. we dont know .. they would be foolish to release that information before hand .. that would be like insider trading .. .. ya just cant say whats going to happen .. but i dont see it only increasing its value by a couple percentage points .. it could be alot different than anyone thinks .. i do know the liabilities now and an approximate value of iraqs assets .. they are not close .. the assets overwhelm the liabilities right now .. not tommarro or after a rd . or after anything .. RIGHT NOW ..

[dinarck]

what ever the case may be .. the dinars are pegged or backed by the us dollar .. and they say they have 67 billion dollars in foriegn reserves to back the dinar .. so .. they say they have 67 billion dollars worth of dinars wghat ever the number of dinars they have is irrelevant,, they have 67 billion in liabilities right now in dinars ... and they have trillions of dollars worth ofd assets .. now in the future how its converted is still a mystry .. we dont have all the facts .. but i personally believe if they are to have a big revaluation of the new dinar it would have to be backed by a commodity or a basket of commoditys .. like oil .. sulfer .. natural gas .. . i dont think the dinar will be kept atrificially low .. the united states has a trillion dollars in phisical currency .. but only hold 146 billion in foriegn reserves .. so theres a way that all these fiat currencys are backed .. and i believe iraq has the goods to back that 67 billion worth of currency that they have right now .. many times over ..weather it be 1000 times or 500 times or 154 times or 382 times .. im not sure .. but they are in the middle of bnegotiatons... or already have decided.. .. we dont know .. they would be foolish to release that information before hand .. that would be like insider trading .. .. ya just cant say whats going to happen .. but i dont see it only increasing its value by a couple percentage points .. it could be alot different than anyone thinks .. i do know the liabilities now and an approximate value of iraqs assets .. they are not close .. the assets overwhelm the liabilities right now .. not tommarro or after a rd . or after anything .. RIGHT NOW ..

The only negotiations going on is between the CBI and the GOI on the redenomination. There is nothing else or they would have done it years ago. Oil in the ground is irrelevant to actual currency values. Let's look at Russia. They are the largest oil producer on the planet and they had a redenomination. Why? What about Venezuela? Once again they RDed. Why? Oil doesn't become a commodity until it is retrieved so all of this commodity backed talk is nonsense anyway.

[dontlop]

i kinda disagree .. commoditys are used to back currencys like grain .. and those grains are not even planted yet .. the united states currency is backed by goods and services.. services that have been preformed and going to be preformed in the future .. these things are not ironed out by cbi and goi .. and if they are they are not discussed publically until they are manifest .. these things are ironed out with the world community and the imf .. iraq simply presents its case before this body of financialists ..world banks and international monetary fund in dc ..after agreements are reached ,, they will print up the new currency anddistribute it to cbi and outward to banking community for release .. at that moment the exchange rates will be revealed ..not before ..

in 2003 they had no idea of iraqs wealth .. they simply had to give them a temporary currency to get by on until the revelation . they didnt have iraqs true finances on paper and did an exact exchange in value from saddams notes to the new bremmers .... its temporary .

this dinar ..the bremmer .. is only temporary . and yes the goi and cbi has a say in what they want .. and the imf has their say as to what they will agree upon . then the negotiations began .. they are not public .. no one has the goods on what will happen .. they wont just rv by 1000 times because its iraq .. everything will be based on what will back up the dinar .. how will they make the dinars good for the money .. i believe its oil .. look at australia and canadas currency ... its backed by commoditys .. . if its good for one country .. under law .. its good for any country .. when oil prices go up .. so does canadas currency ,, because its backed by oil .. the same goes for iraq ..

[dontlop]

im not saying this is what iraq is doing ,, im saying this is the only way i believe they can have a huge rv ,, .. heres a simple explaination as to how commodity curencys work ..

http://www.transaction.net/money/backed/

[dinarck]

i kinda disagree .. commoditys are used to back currencys like grain .. and those grains are not even planted yet .. the united states currency is backed by goods and services.. services that have been preformed and going to be preformed in the future .. these things are not ironed out by cbi and goi .. and if they are they are not discussed publically until they are manifest .. these things are ironed out with the world community and the imf .. iraq simply presents its case before this body of financialists ..world banks and international monetary fund in dc ..after agreements are reached ,, they will print up the new currency anddistribute it to cbi and outward to banking community for release .. at that moment the exchange rates will be revealed ..not before ..

in 2003 they had no idea of iraqs wealth .. they simply had to give them a temporary currency to get by on until the revelation . they didnt have iraqs true finances on paper and did an exact exchange in value from saddams notes to the new bremmers .... its temporary .

this dinar ..the bremmer .. is only temporary . and yes the goi and cbi has a say in what they want .. and the imf has their say as to what they will agree upon . then the negotiations began .. they are not public .. no one has the goods on what will happen .. they wont just rv by 1000 times because its iraq .. everything will be based on what will back up the dinar .. how will they make the dinars good for the money .. i believe its oil .. look at australia and canadas currency ... its backed by commoditys .. . if its good for one country .. under law .. its good for any country .. when oil prices go up .. so does canadas currency ,, because its backed by oil .. the same goes for iraq ..

I think maybe you are confused. Canada never had a M2 of 70 trillion. You do understand hyperinflation don't you? If you do then you understand the effect that it has on your currency. There is no revaluation. There is no hidden exchange rate waiting to "be revealed," there is no temopary currency. There is only a hyperinflated dinar that will remain hyoerinflated unless it is redenominated. I don't care what it is backed by. You cannot increase its value by any significant amount due to the massive liabilities that exist as well as the shock that it would have on the market effectively creating the same hyperinflation that got them in this spot to begin with.

You keep talking about Iraq's wealth. Here is their wealth. 100 billion a year in oil sales. Whoopty do. It will take them 300 years to ever see that 30 trillion in "assets" at this rate. Even if they doubled their output they will still be a 3rd world country because they have no other economy to speak of. Their people don't and won't have jobs from oil sales.

[dontlop]

m2 of 70 trillion .. ? 70 trillion what ?

iraqs 70 trillion dinars is only equal to 70 billion dollars worth of assets .

i agree they will redonominate .... i agree the 70 trillion dinars is only backed by 67 billion dollars ..

and i believe iraq has way more assets to back a new currency worth way more than 67 billion american dollars .. those 67 billion dollars will only be added to the new value of the dinar.. so the 70 trillion dinars will be worth not only 67 billion in foriegn reserves but also the oil commoditys .. giving it a much greater net worth .. now if they only end up with 28 billion new dinars they could value each dinar at 1000 dollars for each dinar if they use 28 trillion worth of assets to back those dinars ... i dont see that happening .. i see the possibility of 2.5 trillion new dinars .. valued at around a dime ....or 250 billion dinars valued at a dollar .... but i dont see iraq with 28 billion dollars for a country of 25 million citizens ..the govt budget is over a huindred billion dollars for 2013 ,,the iraq gdp is around 6 thousand per capita .. thats a hundred fifty billion .. they cannot get by with 28 billion dinars .. if every iraqi hoards 1000 dollars .. the govt would have no dinars for their budget .... i dont think they are going to have 70 trillion dollars worth of dinars .. and i dont think they will have 28 billion in dinars or 70 billion in dinars ..i do see some kind of return . not an even exchange ...i think the govt will eat the masses of the bremmers and validate the remainder at some rate far above a couple percentage points

canadas currency wasnt always strong .. http://www.bankofcanada.ca/wp-content/uploads/2010/07/appendixb.pdf

[dinarck]

m2 of 70 trillion .. ? 70 trillion what ?

iraqs 70 trillion dinars is only equal to 70 billion dollars worth of assets .

i agree they will redonominate .... i agree the 70 trillion dinars is only backed by 67 billion dollars ..

and i believe iraq has way more assets to back a new currency worth way more than 67 billion american dollars .. those 67 billion dollars will only be added to the new value of the dinar.. so the 70 trillion dinars will be worth not only 67 billion in foriegn reserves but also the oil commoditys .. giving it a much greater net worth .. now if they only end up with 28 billion new dinars they could value each dinar at 1000 dollars for each dinar if they use 28 trillion worth of assets to back those dinars ... i dont see that happening .. i see the possibility of 2.5 trillion new dinars .. valued at around a dime ....or 250 billion dinars valued at a dollar .... but i dont see iraq with 28 billion dollars for a country of 25 million citizens ..the govt budget is over a huindred billion dollars for 2013 ,,the iraq gdp is around 6 thousand per capita .. thats a hundred fifty billion .. they cannot get by with 28 billion dinars .. if every iraqi hoards 1000 dollars .. the govt would have no dinars for their budget .... i dont think they are going to have 70 trillion dollars worth of dinars .. and i dont think they will have 28 billion in dinars or 70 billion in dinars ..i do see some kind of return . not an even exchange ...i think the govt will eat the masses of the bremmers and validate the remainder at some rate far above a couple percentage points

canadas currency wasnt always strong .. http://www.bankofcanada.ca/wp-content/uploads/2010/07/appendixb.pdf

Ok...we agree. Iraq will RD and the only money to be made is IF you can acquire the new dinar and hold it for the future. Not the jillions pumped by scam artists.

[dontlop]

Ok...we agree. Iraq will RD and the only money to be made is IF you can acquire the new dinar and hold it for the future. Not the jillions pumped by scam artists.

.. nah i wouldnt go that far .. i think we will be making money off the bremmers as they are exchanged .. you seem to think the iraqi govt has to pay themselves for the dinar they hold .... they can and will simply destroy all their holdings at the time of the rv . and whats left is what will have to be honored at the exchange rate they put on it .. i dont think i will be buying and holding any new dinar .. once they put a new rate on it it will remain .. i dont see any float on it .. it will float only

by oil price fluctuations only .. just like canada and australias commodity based curencys .. as the price of oil goes up so does canadas currency .. as it goes down so does canadas currency ..so will it be in iraq .. its not going to start out low and float up .. so we .. do not agree . this is my analysis . yours is yours .... there is a chance of even exchange .. but i dont see it .. i see profits here .. off the bremmers

[dontlop]

if i owned a movie theator and it had 100 seats .. so i print up 100 tickets for the next show ... and i only sell 65 of them .. do i have to pay myself for the other 35 tickets i still hold .. or can i simply toss them in the can ?

[dinarck]

.. nah i wouldnt go that far .. i think we will be making money off the bremmers as they are exchanged .. you seem to think the iraqi govt has to pay themselves for the dinar they hold .... they can and will simply destroy all their holdings at the time of the rv . and whats left is what will have to be honored at the exchange rate they put on it .. i dont think i will be buying and holding any new dinar .. once they put a new rate on it it will remain .. i dont see any float on it .. it will float only

by oil price fluctuations only .. just like canada and australias commodity based curencys .. as the price of oil goes up so does canadas currency .. as it goes down so does canadas currency ..so will it be in iraq .. its not going to start out low and float up .. so we .. do not agree . this is my analysis . yours is yours .... there is a chance of even exchange .. but i dont see it .. i see profits here .. off the bremmers

Why? Why would Iraq destroy all of It's currency and then pay out trillions to speculators? That makes zero sense. Why not just RD and not pay out trillions to anyone? How many feel good ridiculous theories do we have to hear before people finally get into their heads that economics doesn't work this way? All this conspiracy "plan" to make everyone rich is ludicrous. Let's face it. THERE IS NO SUCH THING AS A RV. Please show me one and prove me wrong.

[dontlop]

they arent paying anything out .. they simply exchange it .. when you give them dinars they give you dollars ...the dollars they gave you are worth the same the dinars they recieve from you ..,, so how are they paying anything out.. they simply exchange them for new dinars which are worth exactly what they gave you

Edited September 24, 2012 by dontlop

[pocono]

Why? Why would Iraq destroy all of It's currency and then pay out trillions to speculators? That makes zero sense. Why not just RD and not pay out trillions to anyone? How many feel good ridiculous theories do we have to hear before people finally get into their heads that economics doesn't work this way? All this conspiracy "plan" to make everyone rich is ludicrous. Let's face it. THERE IS NO SUCH THING AS A RV. Please show me one and prove me wrong.

And that's always been the unanswered question..Why would they...

All the creative theories put forth as to how they could but never a legitamate reason why they would..

[dontlop]

How national money is issued

National currencies

are "fiat" currency--issued, managed and guaranteed by a central authority;

and are created by bank debt:

"Debt money derives its value from its scarcity relative to its usefulness" (Jackson & McConnell Economics. Sydney: McGraw-Hill, 1988.).

Benefits How Issued Unit of Account Exchange Rate Incentives Applications Related Resources Interact

National currency is measured in US$.

By virtue of the treaty signed after World War II at Bretton-Woods, New Hampshire (U.S.A.), all national currencies are mediated through the U.S. dollar. The agreement followed negotiations primarily between the United States and Britain, and provided for the convertibility of U.S. dollars into gold. In August of 1971, U.S. President Richard Nixon unilaterally reneged on the dollar-gold equivalence standard by "closing the gold window" when France and the United Kingdom requested such redemptions, inaugurating the current era of "floating" exchanges in which the values of each currency and of gold are determined autonomously by market forces.

Edited September 24, 2012 by dontlop

[dinarck]

they arent paying anything out .. they simply exchange it .. when you give them dinars they give you dollars ...the dollars they gave you are worth the same the dinars they recieve from you ..,, so how are they paying anything out.. they simply exchange them for new dinars which are worth exactly what they gave you

So they sell the dinar for less than 1/10th of a penny and then buy it back for what, 40 cents, 50 cents, a dollar? O yeah but only after declaring it worth that when they "reveal" the real exchange rate and destroy all the dinar that they have? Do you even realize how ridiculous that sounds?. It's not going to happen. It cannot happen in economics.

[dontlop]

if they give you a thousand dollars for one dinar .. and the dinar is worth a thousand dollars when they get it .. they are paying nothing for it ,,, it is simply exchanged . they had a thousand dollars now they have a dinar wotrth a thousand dollars .. they lost nothing ,, they paid nothing ,, just exchanged one currency for another at the exchange rate

if you had ten dollars and i gave you a ten dollar bill .. for them .. you still have ten dollars ..you lose nothing .. your not paying for it ,, its just exchanged

creating a demand is what it is all about .... i bought some .. this is what iraq needed .. someone to believe in them .. i did .. and i bought the dinars .. i believed in bush and the united states .. i believed in the mission .. i am part of the demand .. and so are you if you own dinars .. .. the value of the dinar will be determined by the demand .. and the demand will be great when it rvalues with its new currency .. ,

it is to iraqs benefit that our currency rvs for as much as it can ,, this currency belongs to iraq and as it is repatriated iraq gains al that wealth

[dontlop]

what gave the dollar its value the day the gold standard was repealed .. it had no value i guess since there was no revalutation of any currency in the history of the world ..

if the gold didnt back the dollar .. what did ?the dollar didnt just plumet to nothing and it floated its way up 1 percent a year .. ..

it instantly had a value at the exact moment it lost its gold backing ;;;

now the exact moment iraq changes its currency backing ..it to will have a new value ..wonderwhat it will be with 30 trillion in oil gas and sulfer ..

[dinarck]

if they give you a thousand dollars for one dinar .. and the dinar is worth a thousand dollars when they get it .. they are paying nothing for it ,,, it is simply exchanged . they had a thousand dollars now they have a dinar wotrth a thousand dollars .. they lost nothing ,, they paid nothing ,, just exchanged one currency for another at the exchange rate

if you had ten dollars and i gave you a ten dollar bill .. for them .. you still have ten dollars ..you lose nothing .. your not paying for it ,, its just exchanged

creating a demand is what it is all about .... i bought some .. this is what iraq needed .. someone to believe in them .. i did .. and i bought the dinars .. i believed in bush and the united states .. i believed in the mission .. i am part of the demand .. and so are you if you own dinars .. .. the value of the dinar will be determined by the demand .. and the demand will be great when it rvalues with its new currency .. ,

O well in that case great!!!! I can't believe I never thought of that before. Of course that is how it will go down. Man, its so simple it silly that I never figured it out. It's strange that a hundred countries haven't already done this. I don't see why they wouldnt since all you have to do is declare their currency now worth 10s of thousands of percent more than the day before.

The only demand for dinar is from clueless internet " investors" that have been sold on fantasy theories like the one you are putting forth here. Real investors in the real world speculate on currencies with an economy backing them. No one wants Iraq's, Iran's, Syrias, or any other backwards third world violent ridden unstable countries currencies. Plenty of hype has been thrown around on this site making Iraq look like some economic giant when they are nothing but peons on the world stage. Don't give me the oil nonsense either because I am tired of hearing it. They have zero manufacturing, zero infrastructure, very little agriculture, very few skilled workers, people being shot and blown up daily, a corrupt government, insane neighbors, and nothing else going for them other than oil. So, they will RD 1000 to 1 just like any other country in their situation and move on.

Have you even thought about what would happen if they did suddenly declare the dinar to be worth 100s or a 1000 times more? Hyperinflation would instantly put them even worse off now than they already are. No country or economy could ever survive an overnight shock of that maginitude which is why we have never seen it and never will.

[dontlop]

O well in that case great!!!! I can't believe I never thought of that before. Of course that is how it will go down. Man, its so simple it silly that I never figured it out. It's strange that a hundred countries haven't already done this. I don't see why they wouldnt since all you have to do is declare their currency now worth 10s of thousands of percent more than the day before.

The only demand for dinar is from clueless internet " investors" that have been sold on fantasy theories like the one you are putting forth here. Real investors in the real world speculate on currencies with an economy backing them. No one wants Iraq's, Iran's, Syrias, or any other backwards third world violent ridden unstable countries currencies. Plenty of hype has been thrown around on this site making Iraq look like some economic giant when they are nothing but peons on the world stage. Don't give me the oil nonsense either because I am tired of hearing it. They have zero manufacturing, zero infrastructure, very little agriculture, very few skilled workers, people being shot and blown up daily, a corrupt government, insane neighbors, and nothing else going for them other than oil. So, they will RD 1000 to 1 just like any other country in their situation and move on.

Have you even thought about what would happen if they did suddenly declare the dinar to be worth 100s or a 1000 times more? Hyperinflation would instantly put them even worse off now than they already are. No country or economy could ever survive an overnight shock of that maginitude which is why we have never seen it and never will.

you wont ever understand .. you should just stay here in this section ..you deserve it .. i wish they would just lock you up here in this forum .. you think you got all the answeres but none of themn hold water .. and im tired of giving you posibilities you asked for .. .. you figure it out for yourself .. and keep asking for explainations and telling everyone they dont know .. you go around in circles .. ive already gone over that why every country doesnt rv .. you dont pay attention .. go back to the beginning where you were beggeing for anyone to explain this to you .. and start reading .. ..maybe you can catch up to the rest of us .. .. you think everything is legitimate .. lol .. ya fiat currencys are legit .. they cant do that cause you are watching ...lol

[dinarck]

you wont ever understand .. you should just stay here in this section ..you deserve it .. i wish they would just lock you up here in this forum .. you think you got all the answeres but none of themn hold water .. and im tired of giving you posibilities you asked for .. .. you figure it out for yourself .. and keep asking for explainations and telling everyone they dont know .. you go around in circles .. ive already gone over that why every country doesnt rv .. you dont pay attention .. go back to the beginning where you were beggeing for anyone to explain this to you .. and start reading .. ..maybe you can catch up to the rest of us .. .. you think everything is legitimate .. lol .. ya fiat currencys are legit .. they cant do that cause you are watching ...lol

Haha....yeah you are right....I don't understand the economics that you are stating because they are fantasy. You have your wish too...I was locked down in this section long ago since common sense and truth isn't allowed to disrupt the "positive" community the the main forums. Thanks for playing down here in reality land though. You aren't the first nor will you be the last to argue the made up "RV" and fail miserably at showing how or why it could happen. All I can tell you is to study hyperinflation and redenominations instead of commodity backed currencies that have zero to do with the hyperinflated dinar.

[WorkerBee]

And that's always been the unanswered question..Why would they...

All the creative theories put forth as to how they could but never a legitamate reason why they would..

Well they wouldn't . They will do what is economically best for Iraq and making some Americans rich probably isn't a high priority with them. Live and learn eh?

Haha....yeah you are right....I don't understand the economics that you are stating because they are fantasy. You have your wish too...I was locked down in this section long ago since common sense and truth isn't allowed to disrupt the "positive" community the the main forums. Thanks for playing down here in reality land though. You aren't the first nor will you be the last to argue the made up "RV" and fail miserably at showing how or why it could happen. All I can tell you is to study hyperinflation and redenominations instead of commodity backed currencies that have zero to do with the hyperinflated dinar.

Well that was fun!

Glad to see you back dinarck!

[umbertino]

O well in that case great!!!! I can't believe I never thought of that before. Of course that is how it will go down. Man, its so simple it silly that I never figured it out. It's strange that a hundred countries haven't already done this. I don't see why they wouldnt since all you have to do is declare their currency now worth 10s of thousands of percent more than the day before.

The only demand for dinar is from clueless internet " investors" that have been sold on fantasy theories like the one you are putting forth here. Real investors in the real world speculate on currencies with an economy backing them. No one wants Iraq's, Iran's, Syrias, or any other backwards third world violent ridden unstable countries currencies. Plenty of hype has been thrown around on this site making Iraq look like some economic giant when they are nothing but peons on the world stage. Don't give me the oil nonsense either because I am tired of hearing it. They have zero manufacturing, zero infrastructure, very little agriculture, very few skilled workers, people being shot and blown up daily, a corrupt government, insane neighbors, and nothing else going for them other than oil. So, they will RD 1000 to 1 just like any other country in their situation and move on.

Have you even thought about what would happen if they did suddenly declare the dinar to be worth 100s or a 1000 times more? Hyperinflation would instantly put them even worse off now than they already are. No country or economy could ever survive an overnight shock of that maginitude which is why we have never seen it and never will.

Great, clear and sensible post. Thanks.