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56 minutes ago, mylilpony said:

 

 

Floridian hun lets see if i can explain this a bit. When thinking about converting dinar to dollars it wont go down like that in iraq. Yes they do use the dollar there but once they cant and their new dinar is out they will see the reflection of their purchasing power in the goods that they buy. Just like kuwait for instance... They are somewhere near 3.40 to one usd (its a guess on my part), but when they go to the market they dont say geeze if I had a dollar i could buy more. When you are in country your currency is reflected in value by how much goods you can buy with it. That is why when iraq changes their currency and ri's or rv's or whatever they wont want them to be disappointed in their new currency so i believe that their purchasing power will be very good, which then will be reflected onto us who hold the dinar outside of the country and we will go by whatever the rate is at the cbi. The iraqi's wont go by the rate at the cbi they will go with whatever the goods and services reflect for their value to their currency. Now as far as the lifting of the zeros i believe is a two pronged approach. A couple of articles i read way back when they were trying to educate their citizens they spoke of raising the currency in a horizontal and vertical measure. I believe it was saleh that was explaining it. So if you look at the vertical aspect of it that would mean to lift (take out of circulation), and horizontal would mean to take the 3 zeros from the nominal rate (.00084). So if it says . 00084, then after you take off the horizontal zeros that leaves .84. Then the way it was explained to me is that is what will be listed on forex. So then you would take 1 and divide it by .84 and you get $1.19 which is right around what the feasibility study said years ago and they talked of holding that rate for around 2 years. As far as the currency being in circulation side by side for 2 years really doesnt bother me because that 25,000 and 25 will still buy them the same thing in iraq. Its got nothing to do with what its worth outside of the country to them. That is why once this happens they cant take more than $10,000 worth of dinar out of country with them. This prevents people from cashing in their currency outside the country and maybe using it for terrorism etc, or causing major upsets in their markets. Lets use kuwait again for instance. Lets say they are at 3.40 usd to one kuwaiti dinar. When a kuwaiti leaves their country to travel they can only take $10,000 dollars worth of kuwaiti dinar with them. Kuwait has had that rate for a long time and you dont see kuwaiti's taking a ton of their currency, leaving the country and cashing it into dollars somewhere else. The same thing goes for us here in the u.s...Oh and one more thing. When this does happen the merchants will adjust their prices in the market to reflect the change, and the iraqi's will see that their dinar actually buys them alot more loaves of bread than that dollar ever did. ;)

 

Great Analogy pony.

 

  pp

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1 hour ago, mylilpony said:

 

 

Floridian hun lets see if i can explain this a bit. When thinking about converting dinar to dollars it wont go down like that in iraq. Yes they do use the dollar there but once they cant and their new dinar is out they will see the reflection of their purchasing power in the goods that they buy. Just like kuwait for instance... They are somewhere near 3.40 to one usd (its a guess on my part), but when they go to the market they dont say geeze if I had a dollar i could buy more. When you are in country your currency is reflected in value by how much goods you can buy with it. That is why when iraq changes their currency and ri's or rv's or whatever they wont want them to be disappointed in their new currency so i believe that their purchasing power will be very good, which then will be reflected onto us who hold the dinar outside of the country and we will go by whatever the rate is at the cbi. The iraqi's wont go by the rate at the cbi they will go with whatever the goods and services reflect for their value to their currency. Now as far as the lifting of the zeros i believe is a two pronged approach. A couple of articles i read way back when they were trying to educate their citizens they spoke of raising the currency in a horizontal and vertical measure. I believe it was saleh that was explaining it. So if you look at the vertical aspect of it that would mean to lift (take out of circulation), and horizontal would mean to take the 3 zeros from the nominal rate (.00084). So if it says . 00084, then after you take off the horizontal zeros that leaves .84. Then the way it was explained to me is that is what will be listed on forex. So then you would take 1 and divide it by .84 and you get $1.19 which is right around what the feasibility study said years ago and they talked of holding that rate for around 2 years. As far as the currency being in circulation side by side for 2 years really doesnt bother me because that 25,000 and 25 will still buy them the same thing in iraq. Its got nothing to do with what its worth outside of the country to them. That is why once this happens they cant take more than $10,000 worth of dinar out of country with them. This prevents people from cashing in their currency outside the country and maybe using it for terrorism etc, or causing major upsets in their markets. Lets use kuwait again for instance. Lets say they are at 3.40 usd to one kuwaiti dinar. When a kuwaiti leaves their country to travel they can only take $10,000 dollars worth of kuwaiti dinar with them. Kuwait has had that rate for a long time and you dont see kuwaiti's taking a ton of their currency, leaving the country and cashing it into dollars somewhere else. The same thing goes for us here in the u.s...Oh and one more thing. When this does happen the merchants will adjust their prices in the market to reflect the change, and the iraqi's will see that their dinar actually buys them alot more loaves of bread than that dollar ever did. ;)

 

Mylilpony, thank you so much your explanation, but I can't agree with your conclusion regarding "delete the zeros".

 

First, let me say that in looking at the post that you quoted, I can see how dumb it was of me to write that.  I was trying to answer the objections of too many people too quickly.  Of course, I see now and have always known that (as they say) “a dinar is a dinar” in Iraq.  They don’t consider the exchange rate, just as we don’t consider the dollar exchange rate here, when we go to the store.  I know that, so please forgive the stupid error on my part.  As you do, I believe that the Iraqi purchasing power will be more.   
 
As to the exchange rate, I never read anything relating to raising the currency “in a horizontal and vertical measure”.  I sure would like to read that article if you come across it again.  I’m going to quote you here:
 
“So if you look at the vertical aspect of it that would mean to lift (take out of circulation), and horizontal would mean to take the 3 zeros from the nominal rate (.00084).  So if it says .00084, then after you take off the horizontal zeros that leaves .84”.
 
The above is what Guru Tlar has been saying for years.  I can’t buy it when article after article says they will delete the zeros from the currency (not the nominal rate).
 
I do agree that after the rate changes, the dinar will be listed on Forex.  I do agree that IF the dinar is .84 the exchange rate will be $1.19.
 
At the present time, Iraqis are allowed to take 100,000 dinars out of Iraq.  At the current rate, this is less than $100, so I’m sure this new rule is not enforced yet.  At a .10 cent rate (or as I think will happen, $1.00 after dropping one zero, which equals a .10  exchange rate for us) Iraqis would be allowed to take $10,000/100,000 dinar out of the country, like all other countries.  Kuwaitis can take as much money as they like out of their country.
 

Currency Export regulations:

1. Nationals or residents of Iraq being older than 18 years of age:
a. local currency (Iraqi Dinar-IQD): up to a maximum of IQD 100,000.-;
b. foreign currencies: up to a maximum of USD 10,000.- or equivalent. 
2. All other passengers: up to the amount imported and declared.

 

Currency

Currency Import regulations:

Import of local currency (Kuwait Dinar-KWD) and foreign currencies up to a maximum of KWD 3000.- or equivalent, in currencies or gold bullion.

Currency Export regulations:

Export of local currency (Kuwait Dinar-KWD) and foreign currencies without restrictions. Customs Authorities must be informed about export of gold bullion.

 

https://www.iatatravelcentre.com

 

Edited by Floridian
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1 hour ago, Floridian said:

 

Mylilpony, thank you so much your explanation, but I can't agree with your conclusion regarding "delete the zeros".

 

First, let me say that in looking at the post that you quoted, I can see how dumb it was of me to write that.  I was trying to answer the objections of too many people too quickly.  Of course, I see now and have always known that (as they say) “a dinar is a dinar” in Iraq.  They don’t consider the exchange rate, just as we don’t consider the dollar exchange rate here, when we go to the store.  I know that, so please forgive the stupid error on my part.  As you do, I believe that the Iraqi purchasing power will be more.   
 
As to the exchange rate, I never read anything relating to raising the currency “in a horizontal and vertical measure”.  I sure would like to read that article if you come across it again.  I’m going to quote you here:
 
“So if you look at the vertical aspect of it that would mean to lift (take out of circulation), and horizontal would mean to take the 3 zeros from the nominal rate (.00084).  So if it says .00084, then after you take off the horizontal zeros that leaves .84”.
 
The above is what Guru Tlar has been saying for years.  I can’t buy it when article after article says they will delete the zeros from the currency (not the nominal rate).
 
I do agree that after the rate changes, the dinar will be listed on Forex.  I do agree that IF the dinar is .84 the exchange rate will be $1.19.
 
At the present time, Iraqis are allowed to take 100,000 dinars out of Iraq.  At the current rate, this is less than $100, so I’m sure this new rule is not enforced yet.  At a .10 cent rate (or as I think will happen, $1.00 after dropping one zero, which equals a .10  exchange rate for us) Iraqis would be allowed to take $10,000/100,000 dinar out of the country, like all other countries.  Kuwaitis can take as much money as they like out of their country.
 

Currency Export regulations:

1. Nationals or residents of Iraq being older than 18 years of age:
a. local currency (Iraqi Dinar-IQD): up to a maximum of IQD 100,000.-;
b. foreign currencies: up to a maximum of USD 10,000.- or equivalent. 
2. All other passengers: up to the amount imported and declared.

 

Currency

Currency Import regulations:

Import of local currency (Kuwait Dinar-KWD) and foreign currencies up to a maximum of KWD 3000.- or equivalent, in currencies or gold bullion.

Currency Export regulations:

Export of local currency (Kuwait Dinar-KWD) and foreign currencies without restrictions. Customs Authorities must be informed about export of gold bullion.

 

https://www.iatatravelcentre.com

 

 

 

Well that was just my opinion and i sure dont follow any gurus.....

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10 hours ago, Rmc10 said:

That's also why some people think 1 to 1 is deleting 3 zeros...  Right now 25,000 dinar note is worth in between $20 to $25. Deleting the zeros would put 3 zeroes on the end of the $25 to make it $25,000. That's my take on what deleting 3 zeros is but noone but the CBI knows for sure.

RMC 10 please tell me you are joking. Okay folks here it is. Deleting the zeros is off of the nominal rate. .00084 becomes .84. There will be a redenomination of the currency inside Iraq only. The CBI will be changing the notes currently used for new highly secure long lasting notes with no zeros on them except for the 10, 20, 50 and 100 dinar notes. They will receive purchasing power when the zeros are deleted from the Nominal rate, making a one dinar note worth 84 cents or thereabouts.  The notes we hold as investors outside the country, will be honored at face value at the new rate. We will never see the lower denominations of notes. The Iraqi people will not get the windfall that we will get. It does not work like that. 

Stop worrying people! If and when it happens we will pe handsomely rewarded for our patience.

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18 minutes ago, mylilpony said:

 

 

Well that was just my opinion and i sure dont follow any gurus.....

 

No, no, I don't think you follow Gurus.  

I just mentioned that was the same thing that Tlar has been saying for years, about deleting the zeros from the nominal rate.

 

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5 minutes ago, Floridian said:

 

No, no, I don't think you follow Gurus.  

I just mentioned that was the same thing that Tlar has been saying for years, about deleting the zeros from the nominal rate.

 

Oh Tlar... that’s a nNe I haven’t heard in quite some time.. I like him, he lives down here in my neck of the woods..

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11 minutes ago, mr.unlikely said:

RMC 10 please tell me you are joking. Okay folks here it is. Deleting the zeros is off of the nominal rate. .00084 becomes .84. There will be a redenomination of the currency inside Iraq only. The CBI will be changing the notes currently used for new highly secure long lasting notes with no zeros on them except for the 10, 20, 50 and 100 dinar notes. They will receive purchasing power when the zeros are deleted from the Nominal rate, making a one dinar note worth 84 cents or thereabouts.  The notes we hold as investors outside the country, will be honored at face value at the new rate. We will never see the lower denominations of notes. The Iraqi people will not get the windfall that we will get. It does not work like that. 

Stop worrying people! If and when it happens we will pe handsomely rewarded for our patience.

 

You speak with such certainty, why?  Is this your idea of what will happen or do you somehow know for a fact?

I am not saying you're wrong and I would love it if you were right, as would everyone else invested in dinar.

I posted what I think/feel will happen and tried to explain why I feel this way.

You sound very certain.  Again, I ask why are you so sure?

Edited by Floridian
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13 minutes ago, mr.unlikely said:

RMC 10 please tell me you are joking. Okay folks here it is. Deleting the zeros is off of the nominal rate. .00084 becomes .84. There will be a redenomination of the currency inside Iraq only. The CBI will be changing the notes currently used for new highly secure long lasting notes with no zeros on them except for the 10, 20, 50 and 100 dinar notes. They will receive purchasing power when the zeros are deleted from the Nominal rate, making a one dinar note worth 84 cents or thereabouts.  The notes we hold as investors outside the country, will be honored at face value at the new rate. We will never see the lower denominations of notes. The Iraqi people will not get the windfall that we will get. It does not work like that. 

Stop worrying people! If and when it happens we will pe handsomely rewarded for our patience.

That's the same thing. We w

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10 minutes ago, mr.unlikely said:

RMC 10 please tell me you are joking. Okay folks here it is. Deleting the zeros is off of the nominal rate. .00084 becomes .84. There will be a redenomination of the currency inside Iraq only. The CBI will be changing the notes currently used for new highly secure long lasting notes with no zeros on them except for the 10, 20, 50 and 100 dinar notes. They will receive purchasing power when the zeros are deleted from the Nominal rate, making a one dinar note worth 84 cents or thereabouts.  The notes we hold as investors outside the country, will be honored at face value at the new rate. We will never see the lower denominations of notes. The Iraqi people will not get the windfall that we will get. It does not work like that. 

Stop worrying people! If and when it happens we will pe handsomely rewarded for our patience.

Mr unlikely, 

 

im not challenging your logic, because I believe none of us know for sure.. but let’s say your theory is right.. how will that effect my friend who is a US citizen, has a house in Erbil along with Million of dinars in his home there. Does he just choose to turn them in (redenomination) in Iraq and not get rich or fly back to the states and cash in and be rich? If that’s the case, I can see a lot of others doing the same and making a business out of getting the dinars out of Iraq for friends family, strangers, etc to cash in here in the US.. hmmmm

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Floridian it's because I have been reading the articles from the CBIFor 10 years and I understand what they are saying. Also the Iraqi people cannot receive the windfall tha we will because that would inflate their in country float to trillions of dollars in value. Not gonna happen. The in country float is around 30 billion and has to remain at that level. It will be a neutral event in country. The people over there will receive purchasing power. Their currency will be worth a dollar or whatever the CBI reinstates it to but the float will remain the same in dollar terms. 

Remember the CBiOnly has around 50-60 billion dollars on foreign currency reserves. It covers the dinar in float at 1:1 or maybe 2:1. The dinar that we hold will end up in banks around the world and the notes will be held in their foreign currency reserves thereby supporting the dinar abroad and giving the banks more capital to lend against. Remember whatever we cash in, we get just a little bit less than what it's worth because of the spread we pay. It's how banks make money.

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1 minute ago, GregHi said:

Mr unlikely, 

 

im not challenging your logic, because I believe none of us know for sure.. but let’s say your theory is right.. how will that effect my friend who is a US citizen, has a house in Erbil along with Million of dinars in his home there. Does he just choose to turn them in (redenomination) in Iraq and not get rich or fly back to the states and cash in and be rich? If that’s the case, I can see a lot of others doing the same and making a business out of getting the dinars out of Iraq for friends family, strangers, etc to cash in here in the US.. hmmmm

 

No, he can't fly  back to the States with millions of dinar.  You can only take 100,000 dinar out of Iraq at a time.

There will be a lot of flying going on, legal or otherwise.   LOL LOL

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GregHi that's a good question and one I don't have the answer to. I have several million in Warka bank and am very curious to see how it all plays out. Regarding what I posted above, it is all just my opinion from reading these articles for 10 years and makes the most sense to me. Remember there is 40 trillion in chunky money that needs to be turned in. The CBI can't possibly make all those dinar worth a buck. They don't have the reserves to cover. It has to be a redenomination in country. There is only about 63 or 64 trillion dollars worth of currency on the planet right now. 

I hope that makes some sense and again I'm guessing like everyone else but I know that Iraq will never ever have their in country float at 40 trillion dollars worth of dinar. Shabibi said years back that the goal was to get to about 1.18 billion notes representing about 25-30 billion dollars.

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9 minutes ago, Floridian said:

 

No, he can't fly  back to the States with millions of dinar.  You can only take 100,000 dinar out of Iraq at a time.

There will be a lot of flying going on, legal or otherwise.   LOL LOL

Floridian yore right and right now that's like 90 bucks. If they revalue to a dollar/dinar they will probably adjust that number to 10,000 since that how many USD you can fly with.

 

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2 minutes ago, mr.unlikely said:

Floridian it's because I have been reading the articles from the CBIFor 10 years and I understand what they are saying. Also the Iraqi people cannot receive the windfall tha we will because that would inflate their in country float to trillions of dollars in value. Not gonna happen. The in country float is around 30 billion and has to remain at that level. It will be a neutral event in country. The people over there will receive purchasing power. Their currency will be worth a dollar or whatever the CBI reinstates it to but the float will remain the same in dollar terms. 

Remember the CBiOnly has around 50-60 billion dollars on foreign currency reserves. It covers the dinar in float at 1:1 or maybe 2:1. The dinar that we hold will end up in banks around the world and the notes will be held in their foreign currency reserves thereby supporting the dinar abroad and giving the banks more capital to lend against. Remember whatever we cash in, we get just a little bit less than what it's worth because of the spread we pay. It's how banks make money.

 

Mr. Unlikely,

 

I understand how things work also.  What you say makes perfect sense!

 

The part that sticks in my craw is that we (all dinar investors) are going to be "allowed" to make millions on this investment.

I'm using the word "allowed" for a reason.  I do not believe "the little guy" could ever have a chance like this.

I remember being a trusting soul in 2008 when real estate crashed.  I remember, as if it were yesterday, saying "Oh no!  The government would never let millions of people lose all the equity in their homes.  They would never let that happen."  And yet, the government allowed it to happen and then used taxpayer money to bail out the banks that sold the derivatives that caused all the problem.  No penalty for the big boys.  Big penalty for the average folks.  This is the reason I feel they won't let thousands become multi-millionaires.  

 

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6 minutes ago, mr.unlikely said:

Floridian yore right and right now that's like 90 bucks. If they revalue to a dollar/dinar they will probably adjust that number to 10,000 since that how many USD you can fly with.

 

 

That is correct!

 

And thanks, Mr. Unlikely for a very good discussion.  This is what I was hoping for all day, from everyone else.  LOL

 

Edited by Floridian
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9 minutes ago, mr.unlikely said:

GregHi that's a good question and one I don't have the answer to. I have several million in Warka bank and am very curious to see how it all plays out. Regarding what I posted above, it is all just my opinion from reading these articles for 10 years and makes the most sense to me. Remember there is 40 trillion in chunky money that needs to be turned in. The CBI can't possibly make all those dinar worth a buck. They don't have the reserves to cover. It has to be a redenomination in country. There is only about 63 or 64 trillion dollars worth of currency on the planet right now. 

I hope that makes some sense and again I'm guessing like everyone else but I know that Iraq will never ever have their in country float at 40 trillion dollars worth of dinar. Shabibi said years back that the goal was to get to about 1.18 billion notes representing about 25-30 billion dollars.

 

Well, I hope we get the millions you think we will get.

Meanwhile, I'll stick to my own theory (while hoping your theory is correct).

If it turns out that I'm correct, I'll still be happy.  I just won't have my waterfront mansion.

Perhaps I'll rent a waterfront house for vacation.  😊

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7 minutes ago, mr.unlikely said:

Floridian it's because I have been reading the articles from the CBIFor 10 years and I understand what they are saying. Also the Iraqi people cannot receive the windfall tha we will because that would inflate their in country float to trillions of dollars in value. Not gonna happen. The in country float is around 30 billion and has to remain at that level. It will be a neutral event in country. The people over there will receive purchasing power. Their currency will be worth a dollar or whatever the CBI reinstates it to but the float will remain the same in dollar terms. 

 

 guess were in the same speculators camp the theory you described is exactly how i feel it will occur when and if it happens one dinar will always just be one dinar inside iraq .. 

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Floridian agreed. I've gotten killed multiple times in the markets. And I realized after my last post that I didn't read yours just above it. Lol. I do remember fairly recently an article that may have been from an economist over there that they needed to remove the zeros from the nominal rate and get the dinar to 1.2:1 dollar or around 84 cents. That make a lot of sense to me. The lower note are basically the CBI changing the existing currency regime to reflect modern western banking standards. I do think ( IMO) that the three zero notes will become bank notes, like the 1000 dollar bills that have been printed, and will be used in bank to bank transfers when physical cash need to move from on bank to another. The CBi stated in the past that they wanted the dinar to become a reserve currency. What better way to spread it around the world than to create a secondary market for the dinar and let people all over the planet purchase it. The catalyst for getting it into the banks is the huge windfall we will receive for hodling until they get their act together.

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4 minutes ago, mr.unlikely said:

Floridian agreed. I've gotten killed multiple times in the markets. And I realized after my last post that I didn't read yours just above it. Lol. I do remember fairly recently an article that may have been from an economist over there that they needed to remove the zeros from the nominal rate and get the dinar to 1.2:1 dollar or around 84 cents. That make a lot of sense to me. The lower note are basically the CBI changing the existing currency regime to reflect modern western banking standards. I do think ( IMO) that the three zero notes will become bank notes, like the 1000 dollar bills that have been printed, and will be used in bank to bank transfers when physical cash need to move from on bank to another. The CBi stated in the past that they wanted the dinar to become a reserve currency. What better way to spread it around the world than to create a secondary market for the dinar and let people all over the planet purchase it. The catalyst for getting it into the banks is the huge windfall we will receive for hodling until they get their act together.

 

"Huge Windfall" - I love it!  😊

 

Someone, today, mentioned buying the North Korean Won for investment.

I gave it some thought and then I said to myself - "Are you nuts?  You wanna wait another 8 years?"

 

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Floridian, GregHi, 3n1, great discussion and I wish the best for all of you as well as myself in this investment. I wholeheartedly believe we will kill it when they adjust the rate. One last thing, I heard today that the US and Iran have helped broker a deal to form the new government and it includes Sadr , Abadi, Ameri and friggen Maliki. The reasoning was better to have stability, if you can believe that. With that I bid you all a good night😎

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2 minutes ago, mr.unlikely said:

Floridian, GregHi, 3n1, great discussion and I wish the best for all of you as well as myself in this investment. I wholeheartedly believe we will kill it when they adjust the rate. One last thing, I heard today that the US and Iran have helped broker a deal to form the new government and it includes Sadr , Abadi, Ameri and friggen Maliki. The reasoning was better to have stability, if you can believe that. With that I bid you all a good night😎

 

Maliki?  Oh no!

Good night.  🙁

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13 minutes ago, Floridian said:

 

Maliki?  Oh no!

Good night.  🙁

 

i tried not to get to personal with it all it was a speculative investment i counted the cost before entering but the upside with iraqs past currency history always kept me engaged , did like several along the iraqi road shabibi for sure Selah and several others they seemed to care for the country maliki always was a source of frustration anger with all his destructive ways .... all the best

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4 minutes ago, 3n1 said:

 

i tried not to get to personal with it all it was a speculative investment i counted the cost before entering but the upside with iraqs past currency history always kept me engaged , did like several along the iraqi road shabibi for sure Selah and several others they seemed to care for the country maliki always was a source of frustration anger with all his destructive ways .... all the best

 

Best to you too, 3n1.  😊

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2 hours ago, mr.unlikely said:

Floridian agreed. I've gotten killed multiple times in the markets. And I realized after my last post that I didn't read yours just above it. Lol. I do remember fairly recently an article that may have been from an economist over there that they needed to remove the zeros from the nominal rate and get the dinar to 1.2:1 dollar or around 84 cents. That make a lot of sense to me. The lower note are basically the CBI changing the existing currency regime to reflect modern western banking standards. I do think ( IMO) that the three zero notes will become bank notes, like the 1000 dollar bills that have been printed, and will be used in bank to bank transfers when physical cash need to move from on bank to another. The CBi stated in the past that they wanted the dinar to become a reserve currency. What better way to spread it around the world than to create a secondary market for the dinar and let people all over the planet purchase it. The catalyst for getting it into the banks is the huge windfall we will receive for hodling until they get their act together.

This explanation, I love, it makes sense to me! I sure hope you’re right! Thank you

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