Where's the money going to come from???/

[Longtimelurker]

49 minutes ago, rvmydinar said:

Did you mean that the dinar ( with 3 zeros ) will coexist together with a new lower denoms for a limited amount of time? What about the rate? Will the dinar ( with 3 zeros  note ) have the same rate with a new lower denoms note once it will become internationally recognized currency one day?

No, I meant that when we are able to exchange our IQD in banks across the U.S, the IQD will have value.

[rvmydinar]

1 hour ago, Longtimelurker said:

No, I meant that when we are able to exchange our IQD in banks across the U.S, the IQD will have value.

Thanks for your clarification Longtimelurker.

[rockfl9]

On 9/3/2021 at 10:01 PM, Longtimelurker said:

Oil was primarily purchased with USD for many many years, just recently countries started getting away from the petro dollar.. not sure where you get your info..Of course there's not a market for IQD in the U.S, it's hasnt been internationally accepted for 30 years, but once it is internationally accepted and we trade in the IQD it will go to our reserves.. no need to respond, arguing online is silly

Who is arguing?

The only reserves the USA holds is GOLD, nothing else. The dollar is the preferred reserve currency of the world. WHY would the Treasury want to accumulate an inferior currency.  

In case you have not heard -- Electric cars and trucks are IN !!! Less demand for oil. Oil producing countries have seen their best days.

The expectation of external investment in Iraq is very limited because of the restrictions of Islamic/Sharia law. 

[Longtimelurker]

4 hours ago, rockfl9 said:

Who is arguing?

The only reserves the USA holds is GOLD, nothing else. The dollar is the preferred reserve currency of the world. WHY would the Treasury want to accumulate an inferior currency.  

In case you have not heard -- Electric cars and trucks are IN !!! Less demand for oil. Oil producing countries have seen their best days.

The expectation of external investment in Iraq is very limited because of the restrictions of Islamic/Sharia law. 

"P.S. OIL is bought in ALL currencies , not just dollars." I was responding to this comment you made.

[SocalDinar]

On 9/3/2021 at 11:51 AM, rockfl9 said:

YOU really need to take a course in International Banking.

When Egypt switched to a float the value went DOWN 11% overnight, It was expected to be worse.

A country would only WANT IQD IF it wanted to BUY something made in Iraq. 

Iraq desperately NEEDS to produce something to EXPORT besides OIL. Especially something that will use a lot of local labor.  This is the private  market they keep talking about .  Getting something started and training enough people will take years,

How's it Going Rock?  

 

You are right! They are not immune to Dutch disease. They do need to ramp up other economic sectors if they want to prosper. And their culture of mediocrity hinders any economic progress too.  

 

[rockfl9]

On 9/4/2021 at 10:04 AM, Longtimelurker said:

No, I meant that when we are able to exchange our IQD in banks across the U.S, the IQD will have value.

DUH !

Isn't that logical !!! IF or WHEN   a US bank IS "exchanging  " dinar , then of course it would have to use SOME value as the unit of exchange . That value could just be .00068 or LOWER. 

[rockfl9]

20 hours ago, SocalDinar said:

How's it Going Rock?  

Ive been busy . The market run up has me overinvested . I am worried about the potential correction in the wind.  I have to guess which ones are most vulnerable and take some money off the table. 

You are right! They are not immune to Dutch disease. They do need to ramp up other economic sectors if they want to prosper. And their culture of mediocrity hinders any economic progress too.  

I have pondered your point about Iraqi culture !  Iraqi's think of clan/tribe first . Then religion (Suni/Shia). then finally country (maybe) . 

As a result it is difficult it is difficult for them to think of forgoing any comfort in the present to build the country.  Kazimi's efforts to create a plan to do that through  the  White paper  series is in peril when he leaves office.

 

 

[rockfl9]

On 9/10/2021 at 4:27 PM, rockfl9 said:

Who is arguing?

The only reserves the USA holds is GOLD, nothing else. The dollar is the preferred reserve currency of the world. WHY would the Treasury want to accumulate an inferior currency.  

In case you have not heard -- Electric cars and trucks are IN !!! Less demand for oil. Oil producing countries have seen their best days.

The expectation of external investment in Iraq is very limited because of the restrictions of Islamic/Sharia law. 

Doing a little research. The Treasury DOES NOT deal with local banks, only Federal reserve district banks , thats where your tax payments go ! 

The FED controls all the local banks in the system. But at this time it does not  hold ANY FX. If a local bank buys any foreign currency it is on it's own.  Forget that option.

[Longtimelurker]

4 hours ago, rockfl9 said:

DUH !

Isn't that logical !!! IF or WHEN   a US bank IS "exchanging  " dinar , then of course it would have to use SOME value as the unit of exchange . That value could just be .00068 or LOWER. 

He asked for clarification, seems pretty logical to me.

Edited September 15, 2021 by Longtimelurker

[rockfl9]

On 9/4/2021 at 10:04 AM, Longtimelurker said:

No, I meant that when we are able to exchange our IQD in banks across the U.S, the IQD will have value.

Even If there would be an rv of the dinar there is no guarantee that banks would be interested in "exchanging " dinar.

First of all banks don't just buy a currency outright. They do it because a customer somewhere has ORDERED IT!

Iraq is a poor ,unstable country. Oil in the ground has no value until it is SOLD. The US could pull-out , ISIS/Taliban could move in and throw the country in dis-array and the currency would be severely devalued.

The reason banks dont deal with dinar today is that no legitimate customer wants it.

[Longtimelurker]

Rockfl9 - "The reason banks dont deal with dinar today is that no legitimate customer wants it."

 

 

That has nothing to do with why banks don't exchange Dinar today.

 

 

 

 

 

 

 

[rockfl9]

On 9/30/2021 at 7:38 PM, Longtimelurker said:

Rockfl9 - "The reason banks dont deal with dinar today is that no legitimate customer wants it."

 

 

That has nothing to do with why banks don't exchange Dinar today.

 

I know the guru/pumpers  want you to think that the reason is that the cant make a profit , that is BUNK .  A bank will charge the same commission selling dinar as any other currency ( 5-6%).  The real problem is that IF they bought it they may have to wait some time before they found a buyer. That is a risk. The currency MIGHT DEVALUE  while they held it . It would be unethical to sell dinar and not offer to buy it back. 

BUT there may also be another reason. The dinar is not really a true currency "internationally",, the bank would be buying and selling a "collectable"  .  I wonder do the banking laws allow that ????