Kaperoni - This Is A Very Encouraging And Promising Article !

[WorkerBee]

If Iraq issues a new currency featuring lower denominations, it will not have the same rate as the dinar we currently hold. That is how redenominations work. Two currencies existing side by side, each having it's own rate. .86 for new, .00086 for old, or some set variation of that. This is what we do not want! We want the value to increase enough, on the dinars we hold now, where they have to reel in the large bills, like they did with the USD large notes.

I'm hoping that if I don't see a dime of return on this speculation that maybe my grandchildren will. Time will tell.

[SocalDinar]

Doctor robbins seems to think the IQD will stay @ .00086 while the new currency is passed to the people. Kinda make it sound like we will not make any profit on the dinar we hold now. Anybody have any info on this posible outcome?

Thats always been a possibility Tin Badge

I'm betting on Shabs correcting the rate. Its way undervalued IMO. They have been talking about deleting the zeroes for quite a while. I see it happening eventually but not at todays rate!

They can shovel this cr&p at us every day and I still don't buy it. Bottom line is one needs to decide for themselves. Put the pieces together and see what fits. Kind of like CSI

[MITCH10]

I meant that AFTER redenomination the term "one dinar " would mean a value of $0.86!

Sorry.... I get that from my girlfriend all the time. She tells me that I was suppose to "know" what she meant not what she said! Lol.

[doctor robbins]

Hi doctor robbins,

Please forgive me for being a bit dense, but could you provide an example of what you mean about 2 rates existing simultaneously? I am having a problem understanding how this would work.

Billio0

WorkerBee's explanation is correct, although I don't feel that any revaluation would be enough to require the introduction of larger bills. RFERL article

[Markinsa]

I'd like to see an example of a country that RD'd in the past, and what currency codes they used to implement their RD?

-

[keepmwlknfny]

I'd like to see an example of a country that RD'd in the past, and what currency codes they used to implement their RD?

-

http://www.isdadocs.org/speeches/pdf/turkishredom121004.pdf

• The definition of "Turkish Lira" found in Section 1.7(ag) of the Annex to the 2000 ISDA

Definitions (June 2000 version) and in Section 4.3(bj) of Annex A to the 1998 FX and Currency Option

Definitions (September 2000 version) states that "'Turkish Lira' and 'TRL' each means the lawful currency

of the Republic of Turkey". Members should note that the ISO code for New Turkish Lira will be

"TRY", and Turkey will have both TRL and TRY as currency codes in 2005. The Association is already

working with EMTA, Inc. and the Foreign Exchange Committee with regard to the definition of Turkish

Lira found in Section 4.3(bj).

[respectron]

Been real busy working lately and try to catch a few minutes of reading here on DV when I use to read daily.., and I must say that taking a pill before reading is still recommended

[Markinsa]

http://www.isdadocs....redom121004.pdf

• The definition of "Turkish Lira" found in Section 1.7(ag) of the Annex to the 2000 ISDA

Definitions (June 2000 version) and in Section 4.3(bj) of Annex A to the 1998 FX and Currency Option

Definitions (September 2000 version) states that "'Turkish Lira' and 'TRL' each means the lawful currency

of the Republic of Turkey". Members should note that the ISO code for New Turkish Lira will be

"TRY", and Turkey will have both TRL and TRY as currency codes in 2005. The Association is already

working with EMTA, Inc. and the Foreign Exchange Committee with regard to the definition of Turkish

Lira found in Section 4.3(bj).

Thanks Keep.

-

[Texas1]

Been real busy working lately and try to catch a few minutes of reading here on DV when I use to read daily.., and I must say that taking a pill before reading is still recommended

I don't know that taking a Viagra will help this rv come any faster, but to each his own......

[DinarThug]

I don't know that taking a Viagra will help this rv come any faster, but to each his own......

Unless U've Invested In Dong .....

[respectron]

I don't know that taking a Viagra will help this rv come any faster, but to each his own......

Of course you know that is my drug of choice

Unless U've Invested In Dong .....

You guys are hilarious. Thanks for the laugh! Giggidy

Edited October 9, 2012 by respectron

[billio0]

WorkerBee's explanation is correct, although I don't feel that any revaluation would be enough to require the introduction of larger bills. RFERL article

Thanks a lot doctor robbins:

I thought WorkerBee was explaining what you meant quite effectively, but appreciate your confirmation.

Billio0

[Maggie123]

Been real busy working lately and try to catch a few minutes of reading here on DV when I use to read daily.., and I must say that taking a pill before reading is still recommended

I don't know that taking a Viagra will help this rv come any faster, but to each his own......

Unless U've Invested In Dong .....

PRICELESS!!!

[mr john]

I may be slower than most ...but I think if they introduce a new currency to run at the same time as the old, how does this help the Iraqis that have the current dinar? Not everyone in Iraq is poor and some even have large bank accounts and are even invested (heavily) in the ISX. I dont think they will screw there own and I guarantee they dont care about us. They have to have an RV on the NID in MHO.

[rockfl9]

Mrjon:::The exchange will be perfectly NEUTRAL...Noone will gain or loose value if the rules are folllowed...All accounts , debts, stock prices are adjused on the day of the RD.. It is important to select a date of very low business activity, Possibly a weekend followed by a bank holiday.

[Flamtap]

I do not see why the rate must change before the release of the new currency ??? I think the CBI seriously expects to RD and release some of the new on 1/1/13...I think they have stopped replacing the old bills as they should and instead are spending the resources on the new bills and keeping them in storage...To keep he economy from stalling they eased the restrictions on the dollar! Wnen the new currency is available they may reverse that policy.

They do not need all the new denoms on day one, just the ones with the most trade value...

I dont know how they could do it BUT if at the same time they did change the rate to be equal to the dollar they could import US coins and not need to mint some of there own immediately.

" they could import US coins and not need to mint some of there own immediately." Seriously?????? To begin with, do you realize what the cost of shipping that amount of coins would be? To ship them off to another Iraq to use when they are actually trying to reduce use of US currency there would be.......Counter-productive....wouldn't you think? Especially when they are trying to get their currency globally recognized? I'm not bashing (so no NEG from me), but I just don't see it the way you do.

[billio0]

Mrjon:::The exchange will be perfectly NEUTRAL...Noone will gain or loose value if the rules are folllowed...All accounts , debts, stock prices are adjused on the day of the RD.. It is important to select a date of very low business activity, Possibly a weekend followed by a bank holiday.

Hi rockfl9:

Based on this scenario that you propose, is it also feasible to assume that the owners/holders of the existing IQD (such as us) shall be granted the ability to exchange their/our IQD for the newly issued currency? And, if so, would such an exchange also be neutral, or would there be a loss in the process?

As an example, if the US Treasury decided to delete all two-zero notes ($100 dollar bills), it is my presumption that those of us in possession of such notes would have the right to exchange them for whatever denomination came to equal $100 at that time. Also, I would expect there to be a specific time period to complete the exchange process.

Of course, I understand that you are not speaking from a position of certainty is this instance, but merely speculating on an outcome that may occur. But, with that said, is there any example that you could cite to support your position?

Billio0

[powerpager]

I was on CC and this is Hopeful news!!!

[brbrlocke]

Thanks Thug...

[rockfl9]

Flamtap:::I was speculating about making change if they RD and rerate to a full USD....A while back someone who had contacts in Iraq that US quarters were being used in trade there .. I believe the new Iraqi coins will be produced in Germany so shipping costs are incurred anyway. US quarter and new 1/4 dinar would have the same value. When the dinar is recognized inernationally the trade will be electronic , it will be the value in USD, Euro SDRs that will be recognized. Cions or bills dont have to leave Iraq!

Billio ::: Look at Chile's RD... Extreme details on how to exchange , Even made it a crime to profit in the exchange. As for existing dinar the "new for old " exchange is to take place only at branch banks in Iraq. Barring some unusual agreement you will not be able to exchange in USA..Must cash out at dealers and pay the spread/fees. I will venture one further, Iraq may become ultra protective of the new dinar and enact laws to prevent it from leaving the country ! Just my opinion.

[hame55]

I have not seen any proof that currency is being printed on the CBI site,

If they are being transparent why not show these tenders.

They show the delarue machines but nothing on the new currency.

Has it started, ? A few articles out in June saying they had samples and companies picked.

Great point!

"Being transparent" would imply an RD - everything above board so everyone can see...if they were planning to RD, then the new currency would be shown on the website, and they would be educating people on the "deletion" of zeros (basically telling them they are making a major change to their money, but not giving them any more value...LOL - that oughta go over well)

RV is coming!

[billio0]

Billio ::: Look at Chile's RD... Extreme details on how to exchange , Even made it a crime to profit in the exchange. As for existing dinar the "new for old " exchange is to take place only at branch banks in Iraq. Barring some unusual agreement you will not be able to exchange in USA..Must cash out at dealers and pay the spread/fees. I will venture one further, Iraq may become ultra protective of the new dinar and enact laws to prevent it from leaving the country ! Just my opinion.

Hi again rockfl9:

I fully understand what occurred with the Chile Re-denomination of their currency. What puzzles me about your comparison to Iraq and the existing IQD that we have invested in, as well as many others who own it both large and small, corporate and government, is that we purchased it legally from US regulated banks and licensed dealers. As such, Iraq (CBI) has an obligation to honor it at all times. If they chose to re-denominate the value of their currency by putting another currency in circulation, it seems to me that they are also obligated to replace the existing currency, which we have in our possession, with the new currency in an amount equivalent to the present value of the IQD. Anything short of this would constitute a failure on the part of Iraq (CBI) to honor their debt to us. if we cannot obtain an exchange here in this country simply because it is only available within Iraq, I suspect that there would be a serious outcry from those larger investors who have much more to lose than we ever did, and if that happened it would surely torpedo any hopes or aspirations iraq has of ever becoming a member of the world economic community again, not to mention what that would do to the plans of the many foreign investors they continue to attempt to attract there to help rebuild their country.

Please keep in mind that this is only my opinion and speculation, but I simply cannot understand how the situation with the IQD parallels any recent RD or RV by any other country ever. In fact, that is why I became an investor in the IQD due to its uniqueness as a potential vehicle for a healthy profit over time. Again, if I have somehow failed to grasped your points, please enlighten me.

Billio0

[sandstorm]

CNN. Broadcasting While Singing ..... "I Know That We Just Bought Dinar - And This Is Crazy - But Here's My Number - So Call Me Shabbi !"

10-6-2012 Newshound Guru Med A GREAT ARTICLE THIS MORNING FROM THE ECONOMIC FINANCE COMMITTEE THAT THE ZERO'S NEED TO BE DELETED ON SCHEDULE AND NOT WAIT, IF THEY WAIT IT WILL HAVE A DEVASTATING EFFECT ON THE IRAQ ECONOMY AND INFLATION WILL RISE...IT WAS VERY GOOD...NICE TO GET SOME GOOD NEWS.

Thug Note: This Article Was Just Posted A Few Minutes Ago In The DV News Section - Followed By Kap's Comment On It.

The Central Bank of Iraq decided on Sunday to delay the implementation of Iraqi currency restructuring and redenomination which consists of removing three zeroes from the currency.

The new currency should be put in market at the beginning of the year of implementation and not during the year, the Bank noted.

CBI was informed about the delay to apply Iraqi currency restructure and redenomination. The necessity to fully coordinate with the executive and legislative authorities requires delaying this project, CBI said in a statement which Alsumaria received a copy of.

“This project bears within a vital importance for our country, economy and community”, CBI stated.

The Central Bank of Iraq stressed the necessity to put the new Iraqi currency in market at the beginning of the year of implementation and not during the year, it concluded.

My link

Read more: http://dinarvets.com/forums/index.php?/topic/130692-cbi-delays-iraq-currency-restructure-and-redenomination/#ixzz28iyn7jkq

10-8-2012 Newshound Guru Kaperoni Article: "Central Bank decides to change the timing of the implementation of the restructuring of the Iraqi currency project and the deletion of zeros" This IMO is a very telling article. If they plan to have the currency (smaller denoms) in circulation at the beginning of the year, then the rate must change prior to that date. Here is the quote... "the new currency in circulation must be the beginning of the calendar year where it has been determined to begin implementation". So now we wonder will this be the beginning of 2013? If so, we can expect the rate to change at any time. If not, then they will shoot for 2014 with the new currency, and the rate can raise via float over the next 14 months. I do not see them waiting to 2014 because that decision will slow down the ISX, WTO accession, and economic progress/employment, etc. This is a very encouraging and promising article.

The fact....the cbi is postponing the redenomination and restructuring.......thusly means they will not be issuing new currency this january. they are telling you this.....dont you see? they are saying....it will be happening of the beginning of a year.....but not this one. thats why theyare telling us its postponed

The only good thing is they arent rding or deleting three zeroes. which is best case for all of us. now let the rate go..

Edited October 9, 2012 by sandstorm

[quadkidd1]

Rockfl9 said

Look at Chile's RD... Extreme details on how to exchange , Even made it a crime to profit in the exchange. As for existing dinar the "new for old " exchange is to take place only at branch banks in Iraq. Barring some unusual agreement you will not be able to exchange in USA..Must cash out at dealers and pay the spread/fees. I will venture one further, Iraq may become ultra protective of the new dinar and enact laws to prevent it from leaving the country ! Just my opinion.

Interesting......

I am very sure that there is only a close few that are privy to any of the intimate details regarding the direction of the IQD. Your assessment of how this plays out is the most bleak of scenarios I have read to date. People show up here at DV and pop off with all the doomsday predictions that a positive outcome is just a pipe dream. I wonder why they take the time to disparage others with their negativity??? I have made numerous comments before to posters with much the same take and still to this day wonder, why follow these boards and scribe your... cant happen , wont happen, never gunna happen excrement!

Not a babe in the woods here and I know all the ups and downs but if " I " were looking at an investment elsewhere and I saw absolutely no potential. I would move along and would not waste any time voicing my opinions. Makes me wonder of an agenda............................................

And folks...

That's JMHO !!!!!

Quad

[sandstorm]

Rockfl9 said

Interesting......

I am very sure that there is only a close few that are privy to any of the intimate details regarding the direction of the IQD. Your assessment of how this plays out is the most bleak of scenarios I have read to date. People show up here at DV and pop off with all the doomsday predictions that a positive outcome is just a pipe dream. I wonder why they take the time to disparage others with their negativity??? I have made numerous comments before to posters with much the same take and still to this day wonder, why follow these boards and scribe your... cant happen , wont happen, never gunna happen excrement!

Not a babe in the woods here and I know all the ups and downs but if " I " were looking at an investment elsewhere and I saw absolutely no potential. I would move along and would not waste any time voicing my opinions. Makes me wonder of an agenda............................................

And folks...

That's JMHO !!!!!

Quad

Simply put. because it doesnt matter what you, i, or anyone else wants or hopes for. its about being openly receptive to the information the cbi gives and finding meaning and direction to their intentions. and whatever it is.....it is. its about money and the question to how thats going to happen. sugarcoating and hoping for only good news is amateur hour. im here to eventually make some money. I will look honestly at the news.....and break it down for what it is. And whatever that news is.......i eat it and like it....no matter whether its positive or negative. this is currency speculation and its not about emotion...or what makes us feel good

Edited October 9, 2012 by sandstorm