Saleh: The coming days will witness a weakening of the purchasing power of the individual and exposing the general economy to recession

[3n1]

8 hours ago, Carrello said:

I do not immediately have a link to the SIGIR, but as recollection serves me, I think it was the April 2011, page 94 or 97 of the report. One of the old timers here might have a link, but many, many DVers have read the report. As the report states, the revalued IQD will come in at $1.17 or $1.19. IMO the $3.00 + is a pipe dream and a pumper's pr campaign.

 

not to keep this going but on 8/30/12 the Iraq Ministry of Planning ( MOP ) put out a report titled The Exchange of Foreign Currency in Economic Feasibility Studies , here are 2 key statements from the report : 

 

"It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc."
AND
"Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities."

Basically the report / study at that time felt the iqd could support a little over a dollar+ some , iraq has more than doubled oil output since 2012 so in 2012 the MOP felt the iqd could handle at least a dollar plus exchange rate does it mean it will , i have no idea , no one knows the rate or the date when and if an ri/rv may take place . 

of course iraq has moved from crisis to crisis since and corruption went crazy after shabibi was pushed out of the way if anyone can find the report it was a good read , every link i have for it will no longer work for some reason ?

cheers dv'ers

 

[screwball]

17 minutes ago, 3n1 said:

 

not to keep this going but on 8/30/12 the Iraq Ministry of Planning ( MOP ) put out a report titled The Exchange of Foreign Currency in Economic Feasibility Studies , here are 2 key statements from the report : 

 

"It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc."
AND
"Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities."

Basically the report / study at that time felt the iqd could support system" rel="">support a little over a dollar+ some , iraq has more than doubled oil output since 2012 so in 2012 the MOP felt the iqd could handle at least a dollar plus exchange rate does it mean it will , i have no idea , no one knows the rate or the date when and if an ri/rv may take place . 

of course iraq has moved from crisis to crisis since and corruption went crazy after shabibi was pushed out of the way if anyone can find the report it was a good read , every link i have for it will no longer work for some reason ?

cheers dv'ers

 

yep correct

[rvmydinar]

13 hours ago, Carrello said:

 

I do not immediately have a link to the SIGIR, but as recollection serves me, I think it was the April 2011, page 94 or 97 of the report. One of the old timers here might have a link, but many, many DVers have read the report. As the report states, the revalued IQD will come in at $1.17 or $1.19. IMO the $3.00 + is a pipe dream and a pumper's pr campaign.

 

If you have access to Dinar Alert, they have an extensive library where many of the SIGIRs reside.

 

It has been stated for over a decade, and by Dr. Shabibi specifically, Iraq must be "secure" and that does not include being ruled by a dictator, but by a democratic government with  fair elections.

thanks a lot for the usefull information carrello. I am really appreciated.

[rvmydinar]

12 hours ago, Dinarrock said:

 Carrello is 100% correct!! You can find this in the SIGIR report I used to have the link but cannot find it anymore. Also I can’t remember what other report that came out in 2017 that valued the dinar around $1.71 I believe if my memory serves me correct! There is NO such thing as an in country or out of country RV you are behind the times as this is 10+ year old guru nonsense!! Whatever value they change the dinar rate too is the value you will receive at whatever bank you choose minus the bank’s spread or profit once it’s internationally recognized period!! Ok next the dinar was never really worth $3.22 that was a Saddam Hussein posted rate, the world only recognized and traded the dinar around $2.65. Next the dinar you and I own will never make its way back to Iraq for us to be able to cash in again Carrello has let you know exactly what happens with the dinar once we exchange it. Personally I believe the dinar will most likely come out at around $1.90-$2.10, I have been in this investment since 2005 and conversed with some of the best and most connected people in this investment and of course seen almost every guru along the way also!! If the dinar happened to come out at .86- $1.17 they will get ALL of my dinar period! I also 100% believe there is absolutely NO such thing as a sucker rate period, again that is guru nonsense since again Iraq will Not be responsible to pay for our dinar once we exchange!! Iraq is only responsible to cover what’s circulating inside Iraq! And when I say that most people still don’t get this concept Iraq is NOT going to exchange say $2 per dinar for any Iraqi that goes into the bank as an exchange! Iraq will only exchange as a one to one with the new lower denominations of bills!! An Iraqi citizen ONLY gets the improved purchasing power once their value goes up they will Not be able to exchange for the U.S. dollar period!! A quick example here in the US our currency fluctuates everyday so if you had a bunch of money under your mattress and our value went up do you take you dollars to the bank and tell them you want to exchange for what?? No when our dollar gets stronger you benefit from greater purchasing power especially when traveling outside of the US! Hope that brings you up to speed more!!

I didn't know about this before. thank's for your great summary. $0.86 - $2.65 sounds a lot of money to me. now the question is if I say if maliki is dead, is Iraq going to announce the rv immediately? or is there something else that need to be done before rv? 

[rvmydinar]

4 hours ago, 3n1 said:

 

not to keep this going but on 8/30/12 the Iraq Ministry of Planning ( MOP ) put out a report titled The Exchange of Foreign Currency in Economic Feasibility Studies , here are 2 key statements from the report : 

 

"It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc."
AND
"Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities."

Basically the report / study at that time felt the iqd could support system" rel="">support a little over a dollar+ some , iraq has more than doubled oil output since 2012 so in 2012 the MOP felt the iqd could handle at least a dollar plus exchange rate does it mean it will , i have no idea , no one knows the rate or the date when and if an ri/rv may take place . 

of course iraq has moved from crisis to crisis since and corruption went crazy after shabibi was pushed out of the way if anyone can find the report it was a good read , every link i have for it will no longer work for some reason ?

cheers dv'ers

 

the date was 08/30/2012. it was 8 years ago. so the Iraq Ministry of Planning ( MOP ) has talked only and  has never made it happen until now or actually has no intention to make it happen. furthermore,  there are akso articles about deleting and raising the zeros, and finally just talks only and has no intention to make it happen again. too many " talk " and no " action ".

[Carrello]

Regarding the actual RV event, I would reiterate that corruption runs rampant in a society with citizens that have no power and run by a few that use the assets of a country for their own gain. This has been the case in Iraq. The voices we hear wanting to move Iraq forward and bring the citizens along with jobs, infrastructure, and education are valid, but drowned out by Iran and its' supporters sucking Iraq's profits down their own throats and running to other countries to deposit their spoils. In the past ten years there is probably more than a trillion dollars stolen from Iraq.

 

I do not feel Iraq is just a yapping dog afraid to come out of the house. The good guys are talking about what should and could be done for Iraq and her people while the bad guys keep stealing. Iran needs to be taken back a step or two and in the next 2-4 weeks I believe we will see some very unhappy Iranian supporters and Iran as well.

 

It's not that Iraq doesn't want to move or they just talk talk talk. It's Iran.

[3n1]

3 hours ago, rvmydinar said:

just talks only and has no intention to make it happen again. too many " talk " and no " action ".

 

i do understand the frustration rvmydinar ... all the best

[rvmydinar]

As carrelo said investor can exchange dinar for dollar in the states for the revised rate. So if the investors want to go to iraq, the investors can only exchange one old dinar for one new dinar for a more powerful dinar. And when the investors exchange dinar for dollar in the states, the iqd will be stocked as a foreign currency asset. Then my question is where does the $ dollar come from to cover for rv after the investors exchange dinar for dollar in the states?

[Carrello]

23 minutes ago, rvmydinar said:

As carrelo said investor can exchange dinar for dollar in the states for the revised rate. So if the investors want to go to iraq, the investors can only exchange one old dinar for one new dinar for a more powerful dinar. And when the investors exchange dinar for dollar in the states, the iqd will be stocked as a foreign currency asset. Then my question is where does the $ dollar come from to cover for rv after the investors exchange dinar for dollar in the states?

 

The US Treasury will be buying the IQD and retaining it as an asset, adding to the value of the US Dollar. 

[rvmydinar]

19 hours ago, Dinarrock said:

 Carrello is 100% correct!! You can find this in the SIGIR report I used to have the link but cannot find it anymore. Also I can’t remember what other report that came out in 2017 that valued the dinar around $1.71 I believe if my memory serves me correct! There is NO such thing as an in country or out of country RV you are behind the times as this is 10+ year old guru nonsense!! Whatever value they change the dinar rate too is the value you will receive at whatever bank you choose minus the bank’s spread or profit once it’s internationally recognized period!! Ok next the dinar was never really worth $3.22 that was a Saddam Hussein posted rate, the world only recognized and traded the dinar around $2.65. Next the dinar you and I own will never make its way back to Iraq for us to be able to cash in again Carrello has let you know exactly what happens with the dinar once we exchange it. Personally I believe the dinar will most likely come out at around $1.90-$2.10, I have been in this investment since 2005 and conversed with some of the best and most connected people in this investment and of course seen almost every guru along the way also!! If the dinar happened to come out at .86- $1.17 they will get ALL of my dinar period! I also 100% believe there is absolutely NO such thing as a sucker rate period, again that is guru nonsense since again Iraq will Not be responsible to pay for our dinar once we exchange!! Iraq is only responsible to cover what’s circulating inside Iraq! And when I say that most people still don’t get this concept Iraq is NOT going to exchange say $2 per dinar for any Iraqi that goes into the bank as an exchange! Iraq will only exchange as a one to one with the new lower denominations of bills!! An Iraqi citizen ONLY gets the improved purchasing power once their value goes up they will Not be able to exchange for the U.S. dollar period!! A quick example here in the US our currency fluctuates everyday so if you had a bunch of money under your mattress and our value went up do you take you dollars to the bank and tell them you want to exchange for what?? No when our dollar gets stronger you benefit from greater purchasing power especially when traveling outside of the US! Hope that brings you up to speed more!!

Since iraq is only responsible to cover what's circulating in iraq and iraq will only exchange as a one to one with the new lower denomination of bills. And, iraqi citizens will not be able to exchange dinar for dollar, but the investors can exchange dinar for dollar in the states. Now my question is why has the cbi never printed the new lower denomination of bills since 2003 until now? Has the cbi not had oil money to pay to print the new lower denomination of bills? What has the cbi got to lose to print the new lower denomination of bills at anytime since the investors can't exchange dinar for dollar in iraq? Why has the cbi always delayed printing the new lower denomination of bills? Does iran have something to do with iraq having to print the new lower denomination of bills? Is maliki or iran the reason the cbi delay printing new lower denomination of bills?

[rvmydinar]

1 hour ago, Carrello said:

 

The US Treasury will be buying the IQD and retaining it as an asset, adding to the value of the US Dollar. 

This is just an example. Let's assume all dinar holders in the states only hold total=1 million trillion dinar and let's assume the rv rate=$1 : iqd1. So my question is does US treasury have enough $ dollar to cover for rv when they exchange dinar for dollars? Is iraq also responsible to cover for rv by transferring $ dollar from cbi to certain bank in the states that is appointed by cbi? So the investors can exchange dinar for dollar to the certain bank in the states that is appointed by the cbi?

[3n1]

 rvmydinar , im just curious and its not meant to be offensive or derogatory in any way but have u just recently obtained iqd or just trying to get opinions about how possible scenarios could play out and to that point absolutely no one knows how when or if a ri / rv may occur we all hold iqd at our own risk , its all simply speculation whats being discussed, if it was a sure fire thing i would put a 2nd mortgage on my home and really increase my holdings i suggest for anyone myself included to only hold what ur comfortable with and let it ride , u mentioned the low denoms and for those following iraq during shabibis tenure at the central bank which in my opinion was when the banks policy was set , he spoke about the new currency being mylar and so on , so was it printed then who knows , by the way i have never read anything different from the policies shabbs put in place at the bank personally im going with what has been spoken about in the past concerning the central bank , can the treasury cover the iqd well its all just numbers on a screen and ledger no one will go skipping out of the bank with a million bucks in hand ... cheers

patiently waiting 

[Carrello]

When we talk of the US Treasury buying the IQD, remember the UST takes in the IQD, gives us dollars for them through the banks, and we spend the dollars, and we pay taxes on about half of the IQD exchanged so the UST just got half of their (our) money back. Then we spend the other half on goods and services which taxes are paid on, the people providing the goods and services pay taxes, and the velocity of money churns the good and services and tax cycle about 6 times. The UST will eventually regain any dollars put out for their "investment" through taxes paid. And they still have IQD in our foreign currency account. Ole'

[Dinarrock]

I think 3n1 and Carrello explained it well for you. Just remember the US and all the countries do not have to go out and print money to cover this RV. Lets say you have 5 million dollars post RV in your bank it’s  a digital number, I promise you that you would have very very hard time getting $10,000 dollars out of your bank and even then you may have to give them 1 week just to get you 10K!! Lastly I have always been told that the new lower denominations have already been printed a very long time ago, you will not see these until the rate changes! 

Edited September 29, 2020 by Dinarrock

[Carrello]

Dinarrock, I remember a very reliable person stated the lower dinars had been printed maybe 5 or 6 years ago, and one guy had seen them on pallets in some type of housing in Iraq.

 

Even if they had not been printed, it good to know it takes months and months to print currency. Anybody remember the lady (DinaDinar I think it was) here that was a currency consultant for De La Rue? She explained many times the currency printing process and was very informative about the "scientific" process the printing cycle was. And that was before the coated, security bills. It would take a year for a country Iraq's size to have all its currency printed and then replaced. As I recall, it took 7 each 747s to fly in the new currency we had printed for Iraq in 2004.

 

Shelley, McDuff, do you remember DinaDinar? 

[rvmydinar]

9 hours ago, 3n1 said:

 rvmydinar , im just curious and its not meant to be offensive or derogatory in any way but have u just recently obtained iqd or just trying to get opinions about how possible scenarios could play out and to that point absolutely no one knows how when or if a ri / rv may occur we all hold iqd at our own risk , its all simply speculation whats being discussed, if it was a sure fire thing i would put a 2nd mortgage on my home and really increase my holdings i suggest for anyone myself included to only hold what ur comfortable with and let it ride , u mentioned the low denoms and for those following iraq during shabibis tenure at the central bank which in my opinion was when the banks policy was set , he spoke about the new currency being mylar and so on , so was it printed then who knows , by the way i have never read anything different from the policies shabbs put in place at the bank personally im going with what has been spoken about in the past concerning the central bank , can the treasury cover the iqd well its all just numbers on a screen and ledger crypto wallet" rel="external nofollow">ledger no one will go skipping out of the bank with a million bucks in hand ... cheers

patiently waiting 

 I am not trying to be offensive to everyone here. I am really sorry if you feel that way. Actually, I just want to get opinions only. anyway, thanks a lot for your explanation.

[rvmydinar]

6 hours ago, Dinarrock said:

Lastly I have always been told that the new lower denominations have already been printed a very long time ago, you will not see these until the rate changes! 

I am so glad to hear this. thanks dinarrock.

[rvmydinar]

6 hours ago, Carrello said:

It would take a year for a country Iraq's size to have all its currency printed and then replaced. As I recall, it took 7 each 747s to fly in the new currency we had printed for Iraq in 2004.

 

I didn't know about this. so once the iqd revalues, the goi and cbi will give a time limit of 1 year for each iraq citizen to exchange one old dinar for one new dinar in iraq, and also for each investor to exchange dinar for dollars in the states or other country, is it right? I just want to get opinion only. no offensive to anyone.

[Shelley]

14 hours ago, Carrello said:

Dinarrock, I remember a very reliable person stated the lower dinars had been printed maybe 5 or 6 years ago, and one guy had seen them on pallets in some type of housing in Iraq.

 

Even if they had not been printed, it good to know it takes months and months to print currency. Anybody remember the lady (DinaDinar I think it was) here that was a currency consultant for De La Rue? She explained many times the currency printing process and was very informative about the "scientific" process the printing cycle was. And that was before the coated, security bills. It would take a year for a country Iraq's size to have all its currency printed and then replaced. As I recall, it took 7 each 747s to fly in the new currency we had printed for Iraq in 2004.

 

Shelley, McDuff, do you remember DinaDinar? 

Yes I believe her name was Dinadinar , and that it took months to print currency , exactly how long not to clear in my mind ?  Was it Dinadinar or DinarDina ?

[Carrello]

4 minutes ago, Shelley said:

Yes I believe her name was Dinadinar , and that it took months to print currency , exactly how long not to clear in my mind ?  Was it Dinadinar or DinarDina ?

 

Not sure, but she was a big Red Sox fan.

[Shelley]

5 minutes ago, Carrello said:

 

Not sure, but she was a big Red Sox fan.

I guess the very old archives are no longer ... I tried finding something from her , as I’m sure you did also !!

its a shame a lot of the old timers with knowledge in all different areas aren’t on the boards at this time 

[Carrello]

Zigmeister would remember. They two of them were going to go to a Red Sox game together so they could eat hot dogs and drink beer. 

[Carrello]

9 hours ago, rvmydinar said:

I didn't know about this. so once the iqd revalues, the goi and cbi will give a time limit of 1 year for each iraq citizen to exchange one old dinar for one new dinar in iraq, and also for each investor to exchange dinar for dollars in the states or other country, is it right? I just want to get opinion only. no offensive to anyone.

My understanding from past statements from the CBI there is a ten year period for exchange. My comment was regarding the printing cycle and has nothing to do with exchange.

 

I mention the printing cycle because if anyone is looking at an RV in "October" or "January" the lower denominations would already have been printed.

[JonnyV]

42 minutes ago, Carrello said:

Zigmeister would remember. They two of them were going to go to a Red Sox game together so they could eat hot dogs and drink beer. 

 

Baseball does get in the way of eating and drinking.  😄