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Revaluation of Iraqi Dinar is the Center of Latest Iraq News


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http://www.financialprospect.com/world/revaluation-of-iraqi-dinar-is-the-center-of-latest-iraq-news-23548.html

 

Found this on another forum.

 

he infrastructure of Iraq is badly affected by the invasion of US armed forces in 2003. Everything was destroyed because of surgical attacks made by US Army and its alliance. Since then the country is the center of sad news. We hear bad news of killing and bomb blast on almost every day. Moreover the ISISI has become one of the worst terrorist organizations operating in Iraq against the government. Iraq is facing heavy losses because of these attacks on the government machinery and they are therefore the center of latest Iraq news.

Current Economic Conditions

Along with all those critical situations in the country the economic condition of Iraq is improving with the every passing day. Some massive investments have been seen for the last 6 years in the country. The Iraq is now free from international sanctions imposed by United Nation. After free from chapter 7 sanctions 7, Iraq has authority to do any kind of business with the any other country. Oil is the backbone of Iraq economy. Now the country is free to sign any contract with the any other country to search or export their crude oil anywhere in the world. Large number of oil exploring companies is operating in the country in the different areas to find the new oil fields.

Special Authorities to Governor to Sign any Contract

There was a time when making investment in Iraq was more than a tough job. You had to fulfill too many requirements and legal formalities to open a new business in the country. But now the situation is completely different. The government of Iraq has given special authorities to the governor of the province to sign any oil and other business contracts without prior permission of the government. All of these soft conditions are to ensure the foreign investment in the country. These special authorities have attracted many of the international investors to the country to make heavy investments in different sectors of the country. The cottage industry of Iraq is also improving with the heavy investments in the domestic industry of Iraq. This is one of the biggest point and addition in the latest Iraq news that cottage industry of the country is also improving very fast.

Revaluation of Iraqi Dinar

People have made heavy investments in the Iraqi dinar with the expectations that it will be revalued in the near future and they will be billionaire. The investors in Iraqi dinar include not only common people but the retired army officers of Iraq war. They believe that Iraqi dinar will be revalued in the next few years and they will earn more than anyone else in the world. The best example of Iraqi dinar revaluation is the Kuwaiti Dinar revaluation that occurred in 1990 and people who invested in the Kuwaiti dinar became billionaire over night. Many of the international banks are also interested in Iraqi dinar purchase and they are the big investors of Iraqi dinar as well. The Noor Al Maliki administration was major hurdle in the revaluation of Iraqi dinar because of dispute with Kurdistan.

Kurdistan has major role in the revaluation of Iraqi dinar and its resolution to pass. The supreme leader of Iraq has taken action against Noor Al Maliki and the government was dissolved. Now new administration is now in the power and they are taking initial steps to complete revaluation process. This can be very big and latest Iraq news. People are waiting for the completion of this procedure for revaluation of Iraqi dinar in next few months. The dinar gurus believe that revaluation of Iraqi dinar will surely occur at the end of 2016. We must have to wait if we have some dinar to be billionaire in the next few months.

Edited by TheArtistFormallyKnownAs
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Poor writing, poor grammar, poor fact-checking ... NO credibility whatsoever!!!

Kuwait's dinar never RVed - it was not used after Saddam invaded as he opted to use his currency instead - Kuwait's dinar retained its value but it just wasn't used. Once Kuwait was liberated, the Kuwait dinar could be used again at the same rate it was. No RV.

The author has spent too much time on the blue couch or listening to guru poo!!

It's Nuri -- NOT Noor ... Wow!!!

Just too much bs to believe the author knows of what they speak!!

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Poor writing, poor grammar, poor fact-checking ... NO credibility whatsoever!!!

Kuwait's dinar never RVed - it was not used after Saddam invaded as he opted to use his currency instead - Kuwait's dinar retained its value but it just wasn't used. Once Kuwait was liberated, the Kuwait dinar could be used again at the same rate it was. No RV.

The author has spent too much time on the blue couch or listening to guru poo!!

It's Nuri -- NOT Noor ... Wow!!!

Just too much bs to believe the author knows of what they speak!!

 

The value the Kuwait Dinar was 0 for a while, then it was reinstated.  What do you call that? An RV, Reinstatement?? 

 

.

 

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The dinar was introduced in 1960[1] to replace the Gulf rupee, equal to the Indian rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, that resulted in a conversion rate of 13 1⁄3 rupees to the dinar.

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.

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It was restored to use - but it never lost its actual value - you just couldn't use it as currency. Because of all the stolen Kuwait dinars by Saddam, they printed new notes at the old rate that was in place before the invasion - but it was never 0.

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The dinar was introduced in 1960[1] to replace the Gulf rupee, equal to the Indian rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, that resulted in a conversion rate of 13 1⁄3 rupees to the dinar.

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.

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It was restored to use - but it never lost its actual value - you just couldn't use it as currency. Because of all the stolen Kuwait dinars by Saddam, they printed new notes at the old rate that was in place before the invasion - but it was never 0.

 

 

"He said even if there were no economic embargo, no one would trade the Kuwaiti dinar because there is no longer any central bank to guarantee its value. Anyone with Kuwaiti dinars outside the country would effectively be holding useless paper, the banker said."

 

I've discussed this a while back in this thread: http://dinarvets.com/forums/index.php?/topic/166707-for-those-of-u-that-still-believe-the-kuwait-rv-lie/page-3#entry1299885

 

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It was restored to use - but it never lost its actual value - you just couldn't use it as currency. Because of all the stolen Kuwait dinars by Saddam, they printed new notes at the old rate that was in place before the invasion - but it was never 0.

 

In fact the it was reinstated to the value before the invasion. (RI). But the pumpers want to say that it was revauled (RV). They are not the same. If you had 100 Kuwaity Dinar before the invasion and the same 100 after the war it would have been worth the same. The value would not have changed..

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I went to Alexa.com to research the site that this article was from.  It's in India - which explains the poor grammar since it was likely translated.  It's a fairly popular site there in India with a much smaller following in the USA.

 

If you click on the links within the site, they actually take you to a iraqireporter.us.  Alexa didn't have enough data on that site to give any information on it. This site just basically has articles on Iraq.  They do have a buy & sell pages, but when you click on them, they just have more articles, so I don't think this is a currency dealer site.  And if you click on the "our team" tab, the people who run the site are based out of Iraq.  

 

So, I've concluded that is not really a pumper article.  And I find it interesting that there are people in Iraq talking this way.

 

jmo............

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In the article it go's on about the "new administration being in power" the new administration is only a year old and it talks about Al Maliki in the passed tense , if you guys have seen this already then it couldn't have been that long ago, not more then a year because the "new administration" is only a year old ,up or down I really don't know though I have stopped spending all of my time here I tend to take two or three years away from it then come back for a month or two then switch off again so I don't know about every article that you guys are bringing, but surely if you have all seen this before then one of you can provide a link?.

 

I do know that there is a lot of GO RV-ers that are just there to pump Dinar sales , but at the same time I can't help but wonder if half of these LOP-ers and naysayers are payed trouble makers.

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