papajack RUMOR

[DeadFred]

.

[RicknSaudi]

Precisely!

The IQD must RV to be at least consistent with other oil producing currencies in the region. If they come in lower than what the world knows they can produce it will be economic suicide. The speculators and other countries will own them and it will take them forever to recover. Much better to come in with a rate that may be a bit high yet sustainable then let the market stabilize the rate. This will serve to precipitate the cash in and remove the 25,000 and 10,000 notes from circulation. This will also help to stimulate investment in Iraq and will create a ripple effect helping to shore up the value of other world currencies, that are pegged to the dollar, including the dollar, since the demand for the dollar will rise at least temporarily. Besides the more powerful people who are in control of this event will gain more than you and I ever dreamed of. They have done this before.

You know...I hear all the time about the dinar coming in at various rates consistent with the oil producing countries. If Saudi Arabia is the #1 oil producing country in the region, why is the Saudi Riyal only .27? I don't know much about what currency is "pegged" to what. I leave that to the financial "gurus". If someone can explain this phenomenon regarding the Riyal, I would be most grateful.

[blindside50]

Its a good guess! I like it!

Go RV

[RicknSaudi]

I'm familiar with the petrodollar, and I'm not disputing your point. But there is a misconception among many here that the currencies of the region are similarly valued. They're not. Syria's is around 2 cents. Saudi, Qutar, and UAE are around $.27. Oman is around $1.43. Bahrain is around $2.70. The dinar might eventually float up to the range of the Kuwaiti dinar but I doubt that will be the rate upon RV. Whatever the rate is will be determined by the market based on Iraq's money supply, oil reserves, and anything else that is usually factored in to a non-fiat currency's value. It will not be determined by Iraqi pride or the perceived need to fit into the value range of its neighbors as many hear insist.

Thanks Scooby Doo and to DesertPete. I think my question (below) has been answered (had I have read the entire thread The Saudi Riyal is, in fact, virtually worthless outside of Saudi. (Except I can still buy and sell it at any bank or currency exchange). In fact, now that I think about it, other than the U.S. dollar, I can't think of any currency that you can freely "spend" outside if it's respective country. (Like going to a 7-Eleven in Little Rock and handing them a 10 Euro note for a six-pack of beer). Just sayin'

Edited October 8, 2010 by RicknSaudi

[benjamin]

how come no one metioned all the spelling mistakes on this topic is it just me that gets a grilling about my spelling

[MovieMaker]

.

I agree with DeadFred and his friend DOT.

[Inahurry]

I love it...I think we have gone full circle from predicting when it could RV to when it will not RV....I love it...I wonder if there are odds in Vegas on the RV date and rate?

[benjamin]

bet fred 20/1 that it RVs on sunday uk time

[Sort]

There is to much evidence that the r.v. will come in a lot higher than $2.00. This would really be very low to. If you looked at the the country and see the potential of billions of dollars that are incorporated involved with there oil reserves, which is the highest level of demand in the world. There is to much supply and demand, not to mention the reconstruction and the poverty that has to be met. My opinion is there will be an open float rate that will come out out around $1.25 to $2.50 for about a month baiting the small investors to move. After the old is cashed in you may see some new currency as high as $4.00 to $5.00.

In any way you still mad e your investment 1000's of times over. It's really a no brainer for everyone,even the rest of the world....

[benjamin]

sounds good wouldn't mind some of that but deams a bit ott to me hope i'm rong

[SoldierOfIndependence]

I agree with DeadFred and his friend DOT.

LOL

I like DOT, she does the polka....

[bright]

what's the big deal.......just cause some new guy is forecasting .33 and we all want it to be $3.+.........heck I've been in this several years and guess what it is still worthless.......ofcourse I want a big payoff but I'm still waiting and hoping......I'll take .33 on up!!

[Inside Track]

You know...I hear all the time about the dinar coming in at various rates consistent with the oil producing countries. If Saudi Arabia is the #1 oil producing country in the region, why is the Saudi Riyal only .27? I don't know much about what currency is "pegged" to what. I leave that to the financial "gurus". If someone can explain this phenomenon regarding the Riyal, I would be most grateful.

I would like to know that myself...I'm no financial "gurus" either!

Much less when it comes to Saudi Arabia!!! Let's ask the King.

[gman51]

with 27 IDQ trillion in circulation (23billion USD approx. at todays rate of exchange ) times $3.00 USD makes it $81 usd trillion worth of IQD in circulation ......... Is this too much to be in circulation...............?

what do they base the rate on anyway....(reserves= oil, natural gas, gold, labor force, and current holdings.......if you count all the oil (505 billion barrels) muliply at $50 USD per barrel it equals $25,000,000,000,000 (25 trillion) ..........where's the other $56 trillion................?

HELLO!!!! Someone has done his/her homework. The Dinar cannot RV at all these high amounts just because you want it to, or just because you cannot face reality. Iraq has to have the ASSETS to support the exchange rate. 505 billion barrells of oil is still in the ground. That does not make it an asset yet. It makes it a "potential" asset.

[SoldierOfIndependence]

HELLO!!!! Someone has done his/her homework. The Dinar cannot RV at all these high amounts just because you want it to, or just because you cannot face reality. Iraq has to have the ASSETS to support the exchange rate. 505 billion barrells of oil is still in the ground. That does not make it an asset yet. It makes it a "potential" asset.

Even a "potential" asset is worth way more than the dollar, which isn't worth the paper it's printed on...

[Inahurry]

and thats all we need...all they need...all the world needs for a lil while anyway until it runs out

[Nelson0528]

I thought it was ALAWI that got mad and left the country. We will know about an RV when we know. Thanks for posting this RUMOR........

Yes, Allawi went to Cairo to ask for Egypts help in curbing Arab/Iranian influences within the government processes. Part of his multi-country tour to rally support for this important cause.

[dlbfilm]

Oh my another day of rumors..... yawn...........................

[Nelson0528]

Well Double R...let's help'em out a little...

A picture is worth a thousand words...!

There is speculation that Iraq will be the "mirror image"

of Dubai. It's all about that OIL. And there is an ocean

of it beneath Iraqi soil.

Dubai 1990:

Dubai Today:

Wow! 20 years! and the Dirham is still only trading at approximately 3.5 to $1 USD. (about $0.30 USD for 1 Dirham)

Thanks for the post the images are really thought provoking...

[Stumpy]

LOL @ .33. Can you say SPECULATORSDESTROYCURRENCY??

I like that newbs are into the investment but clearly most have not done their homework. I'm sure not doing it for them.

my start date is wrong and it did not post my comment?

[Flamtap]

In return the US guaranteed to keep the King in power?

Now we're in charge of what happens in Saudi Arabia as far as their government goes and who will be king? Can someone please break this down for me? This part twisted my mind in a knot.

Thanks

[JugDawg1]

In return the US guaranteed to keep the King in power?

Now we're in charge of what happens in Saudi Arabia as far as their government goes and who will be king? Can someone please break this down for me? This part twisted my mind in a knot.

Thanks

A can of WD40 will help with that knot.

[BMWman]

with 27 IDQ trillion in circulation (23billion USD approx. at todays rate of exchange ) times $3.00 USD makes it $81 usd trillion worth of IQD in circulation ......... Is this too much to be in circulation...............?

what do they base the rate on anyway....(reserves= oil, natural gas, gold, labor force, and current holdings.......if you count all the oil (505 billion barrels) muliply at $50 USD per barrel it equals $25,000,000,000,000 (25 trillion) ..........where's the other $56 trillion................?

HELLO!!!! Someone has done his/her homework. The Dinar cannot RV at all these high amounts just because you want it to, or just because you cannot face reality. Iraq has to have the ASSETS to support the exchange rate. 505 billion barrells of oil is still in the ground. That does not make it an asset yet. It makes it a "potential" asset.

gman51 and REDRV.

One thing I try to keep in mind is this ... Do we have all the data, and is what we have accurate? For instance, do you know what the 'official published' US debt is? Guess what? It's not accurate. People who watch the Fed everyday know this and publish a more accurate figure. And it's WAY above the official #. Do you really think the Fed and the US government are telling you everything and reporting things accurately? If you do, please forgive my astonishment. I don't believe any of the figures the CBI publishes about currency in circulation, etc. are accurate, as you and I think of accurate. Yes, they know exactly how much currency is in circulation and they are fudging the numbers (IMO) like the US does so they can accomplish what ever it is they want to accomplish.

I would like someone to explain to me how it is going to "cost" Iraq to RV at such and such a rate and how they can't afford it. I sat down and did a spread sheet with the 'published' numbers back in the spring. You know what? They can actually make money with the RV. The CBI (the IMF) will make a BUTTLOAD of money off of this RV. All they need to do is make the spread a little higher when the RV is announced and they can cover their "costs". When you sit down and think things through with how fiat currencies really work, you will see that it will not actually cost them anything to RV, like I believe most people think about it costing them. And they don't NEED to have the assets to back their currency. If it is not backed by (convertible to) a storehouse of value like gold or silver, then it is a fiat currency. Currently ALL currencies in the world are fiat. Fiat = backed by nothing. What gives the fiat currencies their perceived value is the work output (or GNP) of the nation the following year. They are notes (debt instruments). Work must be done next year to support the value of the currency this year. It is just a modernized, sly, backhanded form of slavery. What does need to happen though, is that there needs to be an appearance of the assets to "back" the currency. And I believe they have more than enough natural gas and oil to do that. With the oil contracts and the recent announcement of greater oil reserves I believe it gives them all they need. They have either the second or third largest known oil reserves in the world. Also, I believe you will see that after the RV that there is not as much Dinar in circulation as people thought. And one thing I have never heard anyone talk about is ... any reserves they have in Dinar will also RV. Making what they have worth what ever the RV rate multiplies it to.

As a side note, Iraq is currently burning off a LOT of natural gas from wells. With all the contracts signed, this can be tapped very quickly by the big oil companies. With the costs of natural gas in Europe sky rocketing, this revenue stream alone is worth a LOT. Russia has been buying up natural gas companies all over to try to capture the market in Europe ans elsewhere. Iraq could be the answer here for Europe. BIG, BIG value here my friends.

And, the figures some people are using for the RV comes from the UN published rate which lists the current values of currencies against the USD. Someone posted a spreadsheet from the UN site from the first part of September that showed the Iraqi Dinar at somewhere near $0.259, which means ~$3.86/Dollar. I don't believe it will go that high but why was that published in a UN official document? Just sayin' ....... Also, there was a document somewhere that showed a program rate of $3.20. Can someone help me with that? Who, where and when was that? It was fairly recent I believe.

Not bashing anyone here. Just trying to share data and opinions.

Peace to all the sheep ...

BMWman

[benjamin]

thanks for the insight of your thorghts wish i could help you with your questions but i'm affraid i'm looking for the same answers myself ?

[Chief V]

I guess people cant handle the real world...They give me a minus for common sense...Where would you EVER even think the Dinar would be over a dollar...There is no way,Change the brillow in that stem dude.

No crack pipes here! Gotta tell ya Scotty, they can afford it and then some. Several of the economists on here have beat this up left and right and virtually all of them have stated they cannot only afford a re-institution, but even more if warranted. That's just from compiling the data that they know about. You add in the buried gold that they're still locating, the unexplored Al Anbar Province which I'm feeling pretty positive about having more reserves than they ever realized (Literally an Ocean of Oil underneath that part of the desert) As BMW pointed out the natural gas which I believe is now the most in the world to be exported as well. All the monies owed by other countries and frozen asset's yet to be released by other countries back to Iraq after the Chapter 7 is lifted. It's been said by people who have been involved in it, that even Kuwait went up to 9.00 bucks, dropped to 7.00 bucks and even now sits at 3.53, decades after it's revaluation. 93% of Iraq's export will be oil for the time being. Before I left agriculture was exploding, they are one of the largest Date exporters in the world, and Lord knows what else...cement, bricks, etc etc.

A bit more research would definitely enhance your belief's.

V