Can Iraq change its currency?

[sixstring516]

I was just curious, probably cause Im a little nervous like many of us....Does Iraq have the power to change it's currency and leave all our hopes and dreams in a big pile of worthless dinar?....If they are able to change currency, would they do it? I was just going on what someone had mentioned to me earlier today no facts or anything to back this up, just PURE RUMOR! thank you guys ! Go RV, and as always God bless each and everyone of you( my dinar family)

[JugDawg1]

Yes they can. But they would end up nuked. Probably not literally but definetly financially nuked. Not real bright, even for them.

Edited November 13, 2010 by JugDawg1

[mckay*pro]

I was just curious, probably cause Im a little nervous like many of us....Does Iraq have the power to change it's currency and leave all our hopes and dreams in a big pile of worthless dinar?....If they are able to change currency, would they do it? I was just going on what someone had mentioned to me earlier today no facts or anything to back this up, just PURE RUMOR! thank you guys ! Go RV, and as always God bless each and everyone of you( my dinar family)

They can and they will revaule, I'm listening to a recorded call and they are saying they "MUST" finish before the holidays and tommrow we will most likely see a rate that we will be able to exchange at.

[Marilyn53]

Really wouldn't work well for them if they did, but then we are dealing with a Country that can not trust each other..period! I worry about that too, especially with all the countries forgiving Iraq their debts (I know this is to help them to get out of Chapter VII) and getting tenders for their oil, etc. I will believe it when I see it...the RV I mean. I don't even trust the US Government (I mean the US now wants to do away with cost of living raises for the retired and disabled and raise the retirement age to 69...geez) much less a disassociated Country trying to pull it together...taking all these months to try to do it. All we can do is pray that God blesses them and in doing so, blesses us and what we can do to help others post RV.

[JugDawg1]

Marilyn-One thing about those billions that have been forgiven is they can be unforgiven too.

[sixstring516]

thank you all for the posts, I was thinking along the same lines as you, it would definitely not be in their favor to change currency right now...though I do see them doing at some time down the road, and that would be horriffic for those of us who wish to keep some dinar for the future in hopes of rising again....whatever Iam blessed with is perfectly fine with me...my true blessings are my wife and 2 small children after all they are the reson I invested in the first place, to give them what I never had, a little financial security.......I just hope our own country doesnt victimize us all

[JugDawg1]

thank you all for the posts, I was thinking along the same lines as you, it would definitely not be in their favor to change currency right now...though I do see them doing at some time down the road, and that would be horriffic for those of us who wish to keep some dinar for the future in hopes of rising again....whatever Iam blessed with is perfectly fine with me...my true blessings are my wife and 2 small children after all they are the reson I invested in the first place, to give them what I never had, a little financial security.......I just hope our own country doesnt victimize us all

Blessings and God's luck to ya my man.

Edited November 13, 2010 by JugDawg1

[Triple xXx]

I was just curious, probably cause Im a little nervous like many of us....Does Iraq have the power to change it's currency and leave all our hopes and dreams in a big pile of worthless dinar?....If they are able to change currency, would they do it? I was just going on what someone had mentioned to me earlier today no facts or anything to back this up, just PURE RUMOR! thank you guys ! Go RV, and as always God bless each and everyone of you( my dinar family)

Short answer is NO! They will not do that.......

[jmw]

Yes they can but it isn't as bad as it may seem....if they redenominate it will not affect the value of the currency...so you don't lose out you just have to trade the old in for the new. It has happened many times before with other countries and Iraq has stated many times that this is a possibiiity.

[BOBSFUN]

It is my understanding the the US government owns about $400,000,000.00 worth of Dinar and the US population owns another $100,000,000.00. If they made it worthless would the US not fold? I sure wouldn't think the world would let that happen.