What if? ... Need your feedback

[miminakai]

Just ran across these comments posted under a news article... . Again I ran across this, this is not how I feel, it goes entirely against my plans for the near future.

Stew says:

November 18, 2010 at 12:21 pm

Travis… there are a number of articles right here on this web-site. There have been dozens of articles over the last couple years where representatives of the CBI have stated they plan to redenominated the dinar and remove 3 zeros. There have also been articles where economist have agreed with the plan, and articles where economist have disagreed with the plan. But those economist are just giving their opinion. The CBI is set. They want the redenomination. Standard procedure for that is a 1000 old for 1 new exchange. The old dinar is worth .00085, the new dinar would be worth .85. Again, standard procedure. This has been done by many different countries about 80 times in recent history. It’s not a mystery how it will happen. It’s only confusing to those listening to dinar dealers and the so-called dinar gurus on the web.

MommaE… I don’t know for sure how it will play out. A lot will be determined by how long the exchange period is to swap currencies. The shorter the exchange period the more money you are going to lose. Banks will most likely not get involved with a redenominated currency. You will have to hope a dealer will buy it back from you. You better hope the dealers have a way to get it back into Iraq for exchange. They are certainly not going to perform the service for free even if they can. You’ll be lucky to get $500 per million.

A redenomination in almost all cases is revenue neutral. Iraqis will not lose money. Iraqis have 1000 dinar now worth 85 cents… they turn that in for one new dinar in return and that new dinar is worth 85 cents. No lose, no gain. Standard procedure.

Just, what if? Not being negative at all... I have been convincingly told by several people that this will not happen. I didn't even consider a LOP a possibility, until I read this guys responses. But these are MEN who have consistently gone against laws/rules/regulations/etc... What if?... If this happens, will Ali (who is vouched for by many, and whom I've purchased dinars from) be able to do an exchange for us. Or is there hard concrete evidence that show that this will not happen.

[BIGCG]

Anything can happen..... thats why people are going crazy in this investment.... GO IRAQ GO RV/RI

[tykmoore]

We pray it will come in at a higher rate so we can all make a little better living and help those around us. But if it does what this article says at least we had each other!!

GO RV

[OKLAHOMA]

I too believe if it were to redominate the banks wouldnt get involved either. youd almost have to sell back to the dealers. unless it went to .86 cents. and was changed to a national currency. i'm so tired of this 000's thing.

[umbertino]

IF it happens I can only say we'll be shafted big time. Don't even wanna consider such an event.. Not after 6 years of waiting.........

Edited November 19, 2010 by umbertino

[johnfagan]

All I can day is .....Get ready to bend over!!!

[neuman]

read "a novel solution" posted by Phoenix

http://articlesofinterest-kelley.blogspot.com/2010/02/message-from-phoenix-novel-solution-to.html

[umbertino]

read "a novel solution" posted by Phoenix

http://articlesofinterest-kelley.blogspot.com/2010/02/message-from-phoenix-novel-solution-to.html

Since you mentioned him..........Whatever happened to Phoenix?.... Hope he comes back and everything is fine wth him...............

[jdrtkm]

I could happen, Iraq is not stupid, they know alot of people outside the country have it. Secretly they don't want the rest of the world to profit off of their deal. They will try to do what they can to stop that. We all know that they do not and never have cared about the Iraqi people, so yes it could happen, I think it would be a mistake for the GOI to do this, just as I think it is not in their best interest to come out with anything over 1.20. It is an investment we all knew it was, we all know it is risky, we all knew going in we could lose everything we invested. We still all hope to profit, That is the bottom line risk versus reward. I will stick to it and hope it goes our way

[Inicio]

Since you mentioned him..........Whatever happened to Phoenix?.... Hope he comes back and everything is fine wth him...............

I agree Umber. What's happened to the old guard? We have new gurus and almost all posters are recent joiners. Our old favorites are infrequent at best. ??

[jmilkey]

Probably because the newbies keep bringing up old news and the gurus are tired of explaining it over and over again.

The easiest explanation I have heard lately went like this:

When the RV happens take one of your 10K notes and don't cash it in, just make change....get 10,000 $1 IQDs.

Now your $1 IQD = .85 right...you just said 1 IQD would equal .85....or are you trying to tell us that 10,000 is not equal to 10,000?

an .85 RV would mean if you hold $1M (before the spread and taxes) you'd have $850,000 USD.

Banks can make (estimate) between 10% and 50% spread on currency (whatever the market will bear). Do you think the banks won't want a piece of this action??? Are you kidding me?

I predict 1.46

J

[neuman]

Probably because the newbies keep bringing up old news and the gurus are tired of explaining it over and over again.

This part I agree with, there are only so many time you can beat a dead horse before one tires out themselves.

Btw, wouldn't consider Phoenix as a guru, just a guy that is committed to his investment.

Edited November 19, 2010 by neuman

[Incountry]

miminakai :

Check you IM's

[BANE]

I could happen, Iraq is not stupid, they know alot of people outside the country have it. Secretly they don't want the rest of the world to profit off of their deal. They will try to do what they can to stop that. We all know that they do not and never have cared about the Iraqi people, so yes it could happen, I think it would be a mistake for the GOI to do this, just as I think it is not in their best interest to come out with anything over 1.20. It is an investment we all knew it was, we all know it is risky, we all knew going in we could lose everything we invested. We still all hope to profit, That is the bottom line risk versus reward. I will stick to it and hope it goes our way

Well glad that was told to you. It was not told to me. I was told before I invested that it was zero risk so I bought in.