What's Ahead for the Iraqi Dinar...? OUTSIDE POST 3/31/2010

[stunning1980]

http://www.zawya.com/Story.cfm/sidZW20100315000097/Iraq%20Ctrl%20Bank%20Plans%20To%20Rebase%20Dinar%3B%20No%20Time%20Fixed%20Yet

Oooops, I almost forgot to post the link to the article I read.

VR,

Stunner

[whbiv]

Meaning that goods that are currently valued at a certain price will be able to be purchased with less after this takes place. For example a candy bar at a gas station that is currently 1500 dinar will be able to be purchased with the equivilient of a dollar fifty. Meaning that Iraq is in the process of sucking in all the high demons to be in position for the rv.

This is how i saw it also....and where is the thanks button?

[Riverdawg]

That would be a rate of .86 USD to one Dinar... I'll take that...

rd

[longpalms]

I think you are right on!!!

[cmoore648]

good news!!

[Jinks123]

Dustin you are in Iraq i assume. the rebase would be completely for the iraqi economy as this has stated. For a rv to take place its obvious that the high denoms will be taken out of circulation for obvious reasons. But you are saying its for show, I disagree and correct me if im wrong but the poverty driven economy in iraq would benefit from this because the value of their money would greatly apprecieate due to an increase of value of the currency. Like your example of a $20 shirt no longer costing 25k dinar. It would give the general iraqi public a new living standard above what they are currenetly in. In saying this, im saying its a boost for thier economy to a general standard and thier wealthy remain wealthy due to the fact they are probably tied into the oil trade already. But for us (outside investors) it would give us the oppertunity to exchange at whatever rate is given and inturn our government would go back to iraq and purchase oil with thier own newly rebased,rv'd currency that will most likely be valued at equal to or higher the the usd. And you know the fed resev will have a "special rate" to inturn go back to iraq with. I know a lop is and always has been a posssibility but it doesnt seem feasible in this situation to me. To much cash in taxes and in foriegn exchange to be made that would boost all economies in the process. Jobs would be created foriegn exchange worldwide would have new oil trade. It just seems to me in the long run the increase iraq will have to pay to exchange back is nothing compared to the economic boost it would give to their country on a global forefront. Ive read its estimated that there is only 750000 worldwide private investors, and i may be wrong but id say the majority is only holding 2 million or less dinar due to our countrys own economic decline. To make money you have to spend money , and it seems the iraqi gov is doing just that with a specific plan to inturn make a BOATLOAD more in the future from its countries own national resources. Remember they own all these oil fields. Thus inturn offshore drilling in the US?? TAxes alone on the private investors would amass alot of money for our country to boost its declining economy...

[amcit]

http://www.iraq-businessnews.com/?s=elections&x=16&y=7

If it increased 1000 times in value it would be a

100,000% increase not a 1,000%. Double your money

is 100% 10 times is 1000% 1,000 times is 100,000% It's fun

to think about but sadly that is pure insanity.

[Big Ski]

May I ask this one simple question. If they were to lop the dinar then they would have to make new currency. Now just in theroy how much it would cost their government, which is already in a state of p0verty, be able to afford to print the currency?

Edited April 2, 2010 by Big Ski
forgot an o

[armondtoth]

you think you could give Gankans the credit as that is his post.

[ronscarpa]

you think you could give Gankans the credit as that is his post.

Armond - Rodney's name was included when posted - also see post #20 in this thread

[Brandon2230]

Dustin, No offense, but you need to read the economic break down on cashing in Dinar after the RV. It's not necessarily going to be trading in cash for cash. And AMCIT omg do the math. 1000% would take the currency from .00086 to .86. 100,000% come on. High school math

[jocko129]

RV is very near, like around the corner !!!

[amcit]

Dustin, No offense, but you need to read the economic break down on cashing in Dinar after the RV. It's not necessarily going to be trading in cash for cash. And AMCIT omg do the math. 1000% would take the currency from .00086 to .86. 100,000% come on. High school math

I did the math. Double your money is 100%, 10 times your money is 1000%, 100 times your

money is 10,000% & 1000 times your money is 100,000%. So if you 1000 times your

money as others here are saying I'm right so you do the math!!

[amcit]

Dustin, No offense, but you need to read the economic break down on cashing in Dinar after the RV. It's not necessarily going to be trading in cash for cash. And AMCIT omg do the math. 1000% would take the currency from .00086 to .86. 100,000% come on. High school math

Btw what high school did you attend? Just curious

[Jinks123]

if you move decimal points brandon your right and if you talk value amcit and dustin are right. its just manipulating numbers to what you want to say!!!! Why is this even being argued about????? we all want this to be good right even those who think it wont, really want it too!!!!! ome people on here would rather be right than make some money!!!! go be teachers and get certified if you so set on being right!!!!!!

[Brandon2230]

Thanks jinks. Sorry to anyone I may have offended..

[john1025]

Let me answer that question with a question, if they Rv how will they support it? If they are in a state of poverty as you say, where will the RV money come from? Out of the rabbits hat?

[Brandon2230]

http://dinarvets.com/forums/showthread.php?16551-Economist-RV-Explanation-Part-I-and-II

[bobstick]

Somebody needs to brush up on their math. 1000 times something is NOT the same as 1000 %. 1000 times something is the same as 100,000 percent. Let's all go back to school before we start making change for purchases.

[gbrlgms]

http://www.zawya.com/Story.cfm/sidZW20100315000097/Iraq%20Ctrl%20Bank%20Plans%20To%20Rebase%20Dinar%3B%20No%20Time%20Fixed%20Yet

Oooops, I almost forgot to post the link to the article I read.

VR,

Stunner

The Central Bank of Iraq has announced their plans to redenominate the Iraqi Dinar to ease cash transactions. By the end of 2010, they intend to drop three zeros from the nominal value of bank notes. It should be noted that the actual value of the dinar will remain unchanged. That means that 1,000 IQD (pre-redenomination) and 1 dinar (post-redenomination) will both be worth the same amount in US Dollars. As stated by the Central Bank of Iraq, their mandate is to "ensure domestic price stability and foster a stable competitive market based financial system." For more information about the redenomination, read "Iraq plans to slice three zeros off currency notes."

[Jinks123]

hey john money is not printed without means of a backing. They dont just print paper to print it. they printed this NEW currency with the plans to build the reserve, and fill it with international currencies!!!! They have inflation but not hyperinflation. But they pull the trigger on this rv and OIL IS THROUGH THE ROOF!!!! What better way to recoup that money than a high RV that countries have to turn around and but oil with??? the general economy is poverty stricken not the gov!! there will be a timeframw of a rv before they lop if they even lop!!! so find out where to cash in and get ready cause its gonna happen! dont screw arouynd with a waiting game and greed. A perfect investment is one that is executed in a perfect timeframe!!! the gov can support a rv and will recoup whatever they lose in exchanges in oil very quickley. I suggest everyone that is invested start studying modern economics and the results of socialistic and capitalistic governments. Many people have gotten rich off things that most financial gurus amd day traders wouldnt touch!!! high risk High return just time it right and never look back and thank the good lord somebody told you about Dinar

[bobstick]

Correct the math................ 1000% is 10 times a number. 1000 times a number is 1000 times the number. (I graduated. )

[outback7]

It was Gankan who wrote this.......This was posted from another sight.....

as usual Ron... you knock em out of the park... thanks for your diligence!

[wess144]

Great post, go RV

[outback7]

Thank you Gankan for writing this analysis.........Thank you Ron for posting it

Very bold statements underlined below in this recent news article. Take a look!

Posted on 31 March 2010. (Modified)

It’s generally accepted internationally that the elections in Iraq were, in the main, free and fair, but former prime minister Ayad Allawi’s narrow margin of victory means the results will be challenged.

Prime Minister Nouri al- Maliki’s Shiite Muslim State of Law alliance filed a complaint on Tuesday with the Supreme Court, asking for a recount in several areas. When the dust settles, the Sadrist Iraqi National Alliance (INA) could be the kingmaker, having secured a strong third place.

Meanwhile, plans to re-base the Iraqi currency, the dinar, appear to be going ahead, but the exact timing of the change is still to be decided. The new dinar will be worth one thousand times the old one, which will help facilitate trade and foreign exchange, but will be otherwise neutral in terms of valuation.

While the local currency has gained in value in recent years, the planned increase in petroleum production, and the expected boom that this will create in the domestic economy, have led many to speculate that the dinar will continue to strengthen.

The dinar is already becoming more acceptable and credible as a means of exchange; mobile phone operator Asiacell just announced that it will change its tariffs and billing from dollars to dinars. And as AAIB’s Rob Edwards reports, his company will write insurance policies in either currency.

Where do you think the dinar is headed? We’d welcome your opinions in the comments section below.

Analysis:

If this is true, this is the boldest news statement I have see in the past year on the Iraqi Dinar. They mention about “1000 times the amount of the old” value, which is saying that the dinar will increase at least 1000% compared to it’s current value! The old news articles just mentioned that they will drop three zeros off.

I also like seeing that the wireless company (Asiacell) is only using dinars and the AAIB insurance company is writing policies in dinars. That’s is saying something! They know that the dinar is going to revalue. They wouldn’t do this if they didn’t have confidence in the dinar revaluing.

Great news IMO my friends. But, we are still waiting to hear the reasoning for the delay past the April 1st date and why. The UNSC meeting on April 15th should hopefully give us more information. We need to stay focused on the facts they are giving us.

http://www.iraq-businessnews.com/?s=elections&x=16&y=7