Will Iraq Dinar RV in the first 6 month or last 6 month of 2013?

[ALBUNDY]

Hi Folks. I am doing the poll just to ask the opinion whether our investment in Iraq Dinar will RV in 2013. And, please give your honest reason if you think it will not happen in 2013 at all. GO RV.

[Osmosis]

I'm saying NO........just based on previous 12 month history! But I'm ready SOON!!!!

[pastured]

Believe it will happen....could easily be 2014. Why? Cause Iraq sects can't get their act together and IMF don't have the backbone to pull the run out from under them. But, I vote for ASN.

sorry,.."pull the RUG out from under them"

[ALBUNDY]

Omg this is truly unbelievable and very sad, based on the result more than 50 %, the honest voters don't believe it will RV in 2013. We can only hope the reality will be the opposite. Don't give up easily, be positive, optimistic and GO RV.

[BETTYBOOP]

I believe my crystal says so... .and it hasn't been wrong yet! I told the MACHINE when his piano would be delivered and was correct. I told bamagirl TIDE wouldwin the footbal by a good margine....and they did.

[hame55]

I believe my crystal says so... .and it hasn't been wrong yet! I told the MACHINE when his piano would be delivered and was correct. I told bamagirl TIDE wouldwin the footbal by a good margine....and they did.

[/quote det]

GO BETTY!!!!

The crystal has not been wrong yet....I like that. And what about the ten-year plan? Invasion by Bush Jr. in 03 then it's 2013 - they may just do it this year, sometime.

I have always said, if the people are pissed (they are demonstrating in the streets) and things look bad, a big boost in income/savings for everyone will help them get through their troubles better.

I feel the GOI and the intl. players will not let this opportunity pass - why would they? I disagree with the LOPsters that Iraq can't determine their own rate. They can. They sustained a rate

of 3.11 when they pumped this much oil approx. in the early eighties. Their energy infrastructure is newer now and growing fast. They can certainly hold a rate between .10 and a dollar.

[umbertino]

Omg this is truly unbelievable and very sad, based on the result more than 50 %, the honest voters don't believe it will RV in 2013. We can only hope the reality will be the opposite. Don't give up easily, be positive, optimistic and GO RV.

But it's understandable that many People and esp. the ones who've been into this the longest ( like myself for almost 9 yrs. and many others) would tend to be cautious and even pessimistic given the awful track record of RV announcements which were punctually crushed, destroyed, raped and crapped on each and every time.

So imo it could be next year, within the next 5-10 years or even never.

I'd like for it to be soon as I need the money badly.

Edited January 19, 2013 by umbertino

[ALBUNDY]

Umbertino : So imo it could be next year, within the next 5-10 years or even never. Oh no I hope not from the bottom of my heart, as everyone else hopes for the sonner.

[umbertino]

Umbertino : So imo it could be next year, within the next 5-10 years or even never. Oh no I hope not from the bottom of my heart, as everyone else hopes for the sonner.

At the end of my previous post I wrote that as for hope I do hope it will be soon as I need the money.

[lizabeth1]

I'd like to retire within the next 3 years..been invested for only 3years would love 2013..1st 6 months better then the last ..we just have to hang on..

[ALBUNDY]

Umbertino: " At the end of my previous post I wrote that as for hope I do hope it will be soon as I need the money " , yup you said that. Sorry for misunderstanding.

lizabeth1: " 1st 6 months better ", that is more like it. Sounds good to me.

[phlip]

Will the IQD RV in 2013 as predicted?

On the front page of the Central Bank of Iraq (CBI) website there are links to 2 articles covering the current relationship between the International Monetary Fund (IMF) and the CBI.

What’s interesting about the articles is that they both outline how the Executive Board of the IMF still has the CBI and the Iraqi Ministry of Finance (MOF) under close scrutiny ~ even after all these years. This scrutiny has actually been going on since the CBI was first chartered by the Coalition Provisional Authority (CPA) in 2004.

This scrutiny, way more than any ongoing disagreement with Kuwait, is the main reason that Iraq has not been taken out from under the final few of the UN mandated Chapter 7 sanctions.

As their now (2nd) chance to update and modernize the functions of the CBI, the Directors of the CBI in conjunction with the GOI/MOF were supposed to have had (2) more years to bring the financial affairs of Iraq (including having a viable, tradable, international currency) into compliance with the IMF and the World Bank financial (transparency) rules that the other (approximately) 170 member countries follow.

Iraq started its (2nd) final probationary period, called a Stand-By Arrangement (SBA) in February 2010; and that SBA was supposed to have ended in February 2012.

Iraq (thru the CBI) asked for and received 2 extensions to that SBA ~ the first for 5 months and the second for 7 months. The 2nd extension ends on February 2013 ~ 1 year later than the current SBA probationary period was supposed to have ended.

There can be no significant revaluation (RV) of the Iraqi Dinar (IQD) against the USD without both the IMF and the World Bank giving final approval to the functions of the CBI and certainly not without the IMF approving the end of the current Iraq SBA in February of 2013. The IMF ending the SBA would effectively end Iraq’s financial probationary period and (theoretically) make Iraq eligible to join the international community. That’s of course unless the CBI asks for another extension because they know they are not ready yet.

An IMF declared end to the current Iraqi SBA probationary period is going to happen only if Iraq has a respectable international currency and some working electronic banking procedures in place. At this point, at the beginning of 2013, and with no CBI publicly stated intention of processing even an internal RD, let alone an international RV, I’d say look for an extension request from the CBI, or a brand new (3rd) chance SBA offered by the IMF with the stipulated amount loaned through the World Bank.

The UN and the IMF and the World Bank are certainly not going to allow the CBI to mix currencies with the rest of the international community until Iraq has completed a satisfactory financial probationary period and can demonstrate an ability to trade for goods and services globally and with its own currency managed through the CBI.

So far, Iraq has no international currency of its own and still needs the USD as an alternative international currency just to function ~ especially because it is still such a cash-based economy.

Because there is still no international IQD currency and still no signed Hydro Carbon Law (HCL) in place all of the Iraqi oil revenues produced are sold out the back door through Jordan. Since the current high denomination IQD banknotes cannot be traded internationally, the sale of the oil has to happen in either Jordanian Dinar or in Euros or in USD ~ and you can bet that there are some substantial oil broker fees and currency exchange fees levied on Iraq in the process.

5% of the oil revenues produced still go directly to Kuwait in payment for debts owed.

Because someone has to figure that out enough to present evidence enough to satisfy the UN mandate tells you that someone is monitoring oil sold for cash out of Iraq pretty closely.

The other 95% of these oil revenues go back to Baghdad to run the GOI and so far that process hasn’t left much else for the provinces and those province chiefs to distribute at the grass roots level. The Iraqi citizens themselves as a whole have not benefited in proportion to elected and appointed government officials.

All the rest of the Iraqi provinces want the same deal as the Kurds ~ deal directly with the big international oil conglomerates like Exxon-Mobil for the oil within your own province and have a big voice in what percentage of the revenue goes back to Baghdad.

Lots of voices to be heard about that particular issue before a signed HCL can be put into effect.

The CBI continues to set the rate of exchange between the IQD and the USD with bulk cash auctions instead of on a globally traded, foreign exchange platform.

This Jordanian oil trade agreement, which is ongoing even without a signed HCL, is working well enough to produce enough funds to at least back a budget and at least give the appearance to the rest of the world that the Maliki run GOI is engaged in capitalistic and democratic pursuits ~ so don’t expect big changes too soon.

Despite what any politician in any country says, this financial harmony between the CBI and the global banks and their international banking procedures will have to happen before any significant RV of the IQD will be allowed to happen.

The CBI has until February 2013 (at least) to complete the requirements outlined in their current SBA with the IMF.

Don’t expect a significant RV anytime before February 2013 just because of that; but instead, look for an extension of the current SBA; especially if the CBI has somehow not fully complied with the IMF and the World Bank regulations and needs more time.

The CBI has already publicly stated that it will become more and more dependent on the electronic processes (such as a debit card) as a tool to bridge the gap between an all cash society and a society at least financially adept at attracting business from around the world.

The CBI has publicly declared (with press releases) at least 3 times this past year in 2012 that they would be putting off the redenomination (RD) process of issuing new lower denomination notes into circulation (as substitutes for the IQD and USD cash currencies currently being used in Iraq) until at least 2014 and possibly even later than that, depending on the Iraqi Politicians’ ability to actually get along and do some work that benefits a normal Iraqi Citizen ~ like signing the HCL so that the oil revenues can be more widely spread beyond just Baghdad.

There can be no significant revaluation (RV) of the Iraqi Dinar (IQD) against the USD without a proper RD, because any attempt to RV prior to an RD would cause an immediate marketplace demand for the new lower denomination notes (anyway).

If an RV process were started prior to an RD, the new notes wouldn’t be available to make change for Iraqi citizens inside Iraq nor would the new notes be available for exchange with the USD outside of Iraq; the whole process would come to a halt almost immediately in the streets of Iraq.

The Iraqis would just stick with the USD for purchases outside of Iraq and the current large denomination IQD banknotes for purchases inside of Iraq.

For any RD, followed by an (on par) RV to work, the new lower denomination IQD notes would have to have at least as much (or more) purchasing power both inside and outside of Iraq than even the USD or the higher denomination IQD notes have now; and therefore be more desirable to possess by the majority of Iraqi Citizens.

Until a proper RD/RV process is well on its way, neither the FED, nor the IMF nor the World Bank is going to allow the IQD into the world’s foreign currency exchange markets.

Right now, Iraqi Citizens can’t exchange their own high denomination currency for anything but goods and services found inside Iraq, including the USD. If in the future, Iraqi Citizens can’t exchange the new lower denomination IQD notes internationally, then they will be no better off than right now and Iraq still won’t be able to do business (sell oil) as a sovereign nation ~ and that’s true either with or without a signed and sealed HCL and/or a final release from all other UN Chapter 7 sanctions.

The process of the RD/RV will be planned so as to make it be the most desirable option for the Iraqi people to collect and use the new IQD denominations (instead of the USD or the existing IQD notes) and at the same time for those same citizens to be happy to be introduced to the new electronic world of credit cards and debit cards and finding ATMs everywhere you look.

That whole transition from cash to digital will be under heavy scrutiny by the Islamic Clergy who will be looking for violations of Islamic banking laws; but, it will have to take place if Iraq hopes to attract foreign visitors with foreign capital to rebuild its infrastructure.

The CBI itself is also going to have to embrace the digital world by having fewer cash auctions and more trading on the world currency market in order to set its own new international (revalued) rate of exchange against the USD and every other currency.

Likewise, the majority of the IMF board members are going to have to be OK with whatever exchange rate the CBI releases or the IQD will never show up as a worldwide exchangeable currency.

Typically, as an emerging nation, the GOI will want to keep the exchange rate of the IQD for the USD as close as possible to be on par (or a little less) so that Iraqi companies can be competitive internationally with selling other goods and services besides just oil.

After that, it will be the global market itself that drives the exchange rate back up to any pre-war $2 to $3 USD per IQD ~ and that’s if it even ever gets that high again.

From an Iraqi Business Perspective ~ High IQD rate against the USD (IQD 1166 for $1.00 USD) is competitive, Low IQD rate against the USD (IQD 1.00 for $1.00 USD) is not as competitive.

Which way do you think the Iraqi business community (including all the Mom and Pop run businesses) is going to want the exchange rate with the USD to go?

Whatever the case, according to the latest from the CBI news bulletins, any significant change in the exchange rate between the IQD and the USD seems to have been put off until at least 2014.

[ALBUNDY]

We hope people still have confidence on Iraq Dinar because this is the reason why we are here at DV and hold Iraq Dinar to get richer. And, the rate in the poll will change for the better hopeffuly and folks here will vote more " yes " than " no " in the poll.

[Sentinel7]

It will not RV one day,one hour,one minute or one second before it RV's

Guessing or trying to forecast is a total waste of time and energy.

No Surrender No Retreat and No Compromise

[ALBUNDY]

Don't be pessimistic. Don't give up yet and Lift up your spirits people. Hold on tight and hopefully the surprise will come sooner than expected.

[umbertino]

Don't be pessimistic. Don't give up yet and Lift up your spirits people. Hold on tight and hopefully the surprise will come sooner than expected.

Albundy... I sincerely would like that to happen.. You'll agree that it sounds a li'l strange to hear " sooner than expected" to those of us who have been into this adventure for 6-7-8-9 years.

Anyway still with a li'l tank of hope ( but obviously not as filled as in the beginning... that's simply impossible)

Edited February 6, 2013 by umbertino

[teresa43]

looks like most people dont believe it will RV this year, I sure do hope they are wrong.

[UNEEK]

[ALBUNDY]

UNEEK : what a nice picture.

teresa43: I like your spirit. Keep it up. Don't let other people get you down. GO RV.

[Sentinel7]

looks like most people dont believe it will RV this year, I sure do hope they are wrong.

Hope will not make it RV hope has destroyed many in the Dinar universe.

Hope has killed more people through out history then any disease ever has.

Hope is a false sense of believe in something you have no control over.

Hope is a word of inaction of failure as in when all else has failed you still have hope.

I do not believe in inaction

No Surrender No Retreat and No Compromise

[gatoraces]

Hope will not make it RV hope has destroyed many in the Dinar universe.

Hope has killed more people through out history then any disease ever has.

Hope is a false sense of believe in something you have no control over.

Hope is a word of inaction of failure as in when all else has failed you still have hope.

I do not believe in inaction

No Surrender No Retreat and No Compromise

all that is true, except in this case, we have no control.

[Jaxinjersey]

Hope will not make it RV hope has destroyed many in the Dinar universe.

Hope has killed more people through out history then any disease ever has.

Hope is a false sense of believe in something you have no control over.

Hope is a word of inaction of failure as in when all else has failed you still have hope.

I do not believe in inaction

No Surrender No Retreat and No Compromise

Couldn't disagree more Sentinel! Hope is not at all inaction... in fact, it could probably be argued that it is one of the best catalysts, if not "supporters" of action. Hope has probably provided more sustenance, than "realistic despair". When all else is gone, hope has probably saved many lives... not through a "magical" sense... but in the human sense of self-preservation. Those that give up hope perish, or suffer, before those that "depend" on hope, or "use" hope. Hope may provide just enough "time", "energy", or "intuition" to lead a person to a next level of survival! Panic and despair sinks... Hope floats! :)/> "Hope is a good thing... perhaps the best of things." It is an imperative to action...

Edited February 9, 2013 by Jaxinjersey

[ALBUNDY]

gatoraces : " except in this case, we have no control " , yep you are so right. But, at least all of you here still have confidence in IQD , don't you. Because what we are here is to make some money at the end of the ride.

All of you here still have Iraq dinar , don't you? that is good and we are in the same boat. We have to lift our spirit up and up and don't give up! If you don't have Iraq Dinar, I don't think you want to be here to waste your time. And, most important and don't ever ever forget is " DON'T SPEND MORE THAN YOU CAN AFFORD TO LOSE "! Don't be too greedy folks.