I disagree with keepmwlknfny

[Bumper64]

you learn something new everyday now i know what an "a$$clown" is. Im going to start using it on occasion.

thanks keeps

GO RV!!!!!!!!!!

Please don't!! :lol:

[keepmwlknfny]

That's fine if you answer the question right...

Would you like the Disney version of every answer or the real one?

Topic changed to "I disagree with keepmwlknfny"

Don't be upset Oil4life but I think this is a better heading instead of one that is calling someone out in a harsh manner!!

That does make him seem more sophisticated!!! Thanks.....or should he be thanking you??

[gatoraces]

really, if we knew for sure it was going to RV, and RV only, we would be begging, borrowing, and stealing to get as much dinar as we could. wouldn't we?

[Oil4life]

well everyony i guess we'll see a LOP just ask keepm he know's it all...

[rocketman2010]

bumper just one time man OKAY HERE GOES I heard it trought the grapevine some A$$clown says RV tomorrow. Hey it does have a ring to it. OKAY! OKAY! OKAY! it's out of my system ....LMAO.

[jmw]

This is a post from KEEP he is totally wrong

the second theory you stated is true....if they redenominate your 25k bill will only be 25 dinar, and then you cash in for USD at whatever the current exchange rate will be.......There is no guarantee that we will have time or will have access to the smaller denoms before we are required to give up our bigger bills....thats where all the speculation comes in.....we dont know if we will have a time frame or not....or if our bills will only be worth a fraction of what they are in comparison to the smaller denoms.....but if they do redenominate the bills will end up like this 25k=25 10k=10 5k=5 1k=1 500= .50 250= .25 and so on.....

If Iraq does redenominate their currency then Keepem will be 100% accurate in how it will play out....if you still don't understand how it works...try this....

http://www.allacademic.com/meta/p_mla_apa_research_citation/0/4/0/1/0/p40104_index.html

It isn't that any of us want it to happen...but it is a possibility....and if it does happen this is how it will happen....doesn't make anyone negative or down on the investment...it just makes them aware of what the possibilities are. Now if you have anything to back up that it won't happen or that it will happen different than Keepem stated I would love to hear about it.

[Bumper64]

bumper just one time man OKAY HERE GOES I heard it trought the grapevine some A$$clown says RV tomorrow. Hey it does have a ring to it. OKAY! OKAY! OKAY! it's out of my system ....LMAO.

:lol: :lol: Hope that made you feel better!! Good Job! :lol: :lol:

[Mongo]

[Traconesu02]

Lets PLAY NICE people!!

Also, I am changing the title to this thread!! I don't think calling keepmwlknfny a clown is a great way to start a thread just because you might not agree with him!! A little harsh in my book!!

You get a plus 1 for this one. Glad you stepped in.

[keepmwlknfny]

If Iraq does redenominate their currency then Keepem will be 100% accurate in how it will play out....if you still don't understand how it works...try this....

http://www.allacademic.com/meta/p_mla_apa_research_citation/0/4/0/1/0/p40104_index.html

It isn't that any of us want it to happen...but it is a possibility....and if it does happen this is how it will happen....doesn't make anyone negative or down on the investment...it just makes them aware of what the possibilities are. Now if you have anything to back up that it won't happen or that it will happen different than Keepem stated I would love to hear about it.

Thanks for clearing that up since a few didnt quite understand what I was saying!! At least I know Im not the only one that knows how a RD works!

[Mongo]

you learn something new everyday now i know what an "a$$clown" is. Im going to start using it on occasion.

thanks keeps

GO RV!!!!!!!!!!

[jmw]

Thanks for clearing that up since a few didnt quite understand what I was saying!! At least I know Im not the only one that knows how a RD works!

no problem.....some people seem to want to just put blinders on instead of looking at this as a true investment...

[REDRV]

A LITTLE DINAR HISTORY ...... IF YOU DISAGREE WITH THIS INFORMATION CHANGE IT AT .... http://en.wikipedia.org/wiki/Iraqi_dinar ......

The dinar (pronounced: di-'när) (Arabic: دينار, Kurdish: دینار) (sign: د.ع; code: IQD) is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1,000 fils (فلس), although inflation has rendered the fils obsolete.

Contents [hide]

1 History

2 Speculation

3 Redenomination

4 Coins

5 Banknotes

6 1990-2002 Series

7 Current banknotes

8 See also

9 References

10 External links

[edit] History

The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 13⅓ rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.[2]

After the Gulf War in 1991, due to UN sanctions, the previously used Swiss printing was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to sanctions placed on Iraq by the United States and the international community and excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

Following the deposition of Saddam Hussein in the 2003 invasion of Iraq, the Iraqi Governing Council and the Office for Reconstruction and Humanitarian Assistance began printing more Saddam dinar notes as a stopgap measure to maintain the money supply until new currency could be introduced.

Between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed by De La Rue using modern anti-forgery techniques, to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people’s everyday lives."[3] Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar.

These new banknotes led to a new industry of selling the new Iraqi dinar to oversea investors who hoped to profit from Iraq's new currency when the economy improved. The provisional government of Iraq has made this legal, but the banknotes are exchanged at different rates by companies wanting to make profit. Due to the success of this program, though, Iraqi dinar has been widely counterfeited. However, there are six different security features on the 25,000 Iraqi dinar note that one can check for authenticity.[4]

Although the value of the dinar appreciated following the introduction of the new banknotes from 4,000 dinars per U.S. dollar, at the time of their introduction, to a high of 980 dinars per dollar, it is now held at a "program" exchange rate, as specified by the International Monetary Fund,[citation needed] of 1170 dinars per US dollar at the Central Bank of Iraq. However, there is not yet a set international exchange rate and so international banks do not yet exchange Iraqi dinar. The exchange rate available on the streets of Iraq is around 1200 dinars per US dollar.

For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.

[edit] Speculation

On May 3, 2007, the IMF released a statement in relation to the international compact with Iraq, which has turned the tide in regards to speculation on the Iraq dinar. The contents of the article discuss changes made in Iraq on the economic front of how the Iraq government had eliminated fuel subsidies. The article also stated that the Central Bank of Iraq had raised interest rates in an attempt to allow a gradual appreciation of the dinar in an attempt to fight dollarization of the Iraq economy. Although there are claims of widespread optimism of some language used later in the press release among some dinar speculators, there have been no publicly released statements or analysis by any news sources or governments.[5]

Since the introduction of the new Iraqi Dinar in 2004 after the fall of Sadaam Hussein, dinar speculators have resorted to private dealers to buy and sell the Iraqi Dinar because there is no public market for the Iraqi Dinar. Currently, dealers registered with the U.S. Treasury as a Money Service Business sell dinars for around $1100 per 1 million IQD.[6] It is yet to be seen how much of a return dinar speculators will receive.

[edit] Redenomination

This section does not cite any references or sources.

Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2010)

According to a Reuters report on 11 Feb 2010, Iraq expects to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to facilitate currency transactions.

Emerging from years of war and sanctions, Iraq is trying to revamp its economy and boost oil production with a raft of crude deals that may vault it to one of the world's top oil producers.

'The goal is to improve the payment and receiving system in the country and consequently to reform cash management,' said Mudher Kasim, a senior advisor at the central bank.

Kasim said that the central bank expected to start rolling out new notes by the end of the year or the beginning of 2011. Iraq has 25 trillion dinars in circulation, officials say. An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it is appropriate until recently.

http://www.rferl.org/content/Iraq_Planning_Currency_Redenomination/1950504.html

[edit] Coins

Coins were introduced in 1931 and 1932 in denominations of 1, 2, 4, 10, 20, 50 and 200 fils, with the 200 fils known as a rial. The 20, 50 and 200 fils were minted in silver. In 1953, silver 100 fils coins were introduced.

Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50 and 100 fils, with the 25, 50 and 100 fils in silver until 1969. In 1970, 250 fils pieces were introduced, followed by 500 fils and 1 dinar coins in 1982. Coin production ceased after 1990.

In 2004, new 25, 50, and 100 dinars coins were introduced. However, these coins proved to be unpopular & were withdrawn from circulation.

END.

ACCORDING TO THIS THEY DID A 1 TO 1 EXCHANGE .... AS THE VALUE GOES BACK UP YOU NO LONGER HAVE A NEED FOR THE LARGER NOTES SO YOU SIMPLY CASH THEM IN (OR MAKE A DEPOSIT ) FOR SMALLER NOTES IF YOUR IN IRAQ .... OUTSIDE IRAQ WE MAKE A DEPOSIT AND POOF MONEY INTHE BANK..... THEY DID NOT HAVE 25 K NOTES BACK THEN BUT IF YOU HAD ENOUGH 250 NOTES YOU WOULD HAVE EXCHANGED THEM FOR A 25K NOTE SO FOR THEM TO NOW TURN A 25K INTO A 25 DOES NOT MAKE SENSE WHEN A 250 NOTE USE TO CARRY A HEAVY $750 US TAG.... HYPERINFLATION PRINT MORE MONEY. LOW INFLATION BUY BACK LARGE NOTES MEANS INCREASED VALUE. JMO ... REDRV

[sladrian]

:lol: :lol: Hope that made you feel better!! Good Job! :lol: :lol:

Hey wait a minute, I want credit where it is due now.... A$$CLOWN is mine guys...

[Oil4life]

A LITTLE DINAR HISTORY ...... IF YOU DISAGREE WITH THIS INFORMATION CHANGE IT AT .... http://en.wikipedia.org/wiki/Iraqi_dinar ......

The dinar (pronounced: di-'när) (Arabic: دينار, Kurdish: دینار) (sign: د.ع; code: IQD) is the currency of Iraq. It is issued by the Central Bank of Iraq and is subdivided into 1,000 fils (فلس), although inflation has rendered the fils obsolete.

Contents [hide]

1 History

2 Speculation

3 Redenomination

4 Coins

5 Banknotes

6 1990-2002 Series

7 Current banknotes

8 See also

9 References

10 External links

[edit] History

The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 13⅓ rupees. The dinar was pegged at par with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of 1 dinar = 2.8 dollars. By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of US$3.3778, before a 5 percent devaluation reduced the value of the dinar to US$3.2169, a rate which remained until the Gulf War, although in late 1989, the black market rate was reported at five to six times higher (3 dinars for US$1) than the official rate.[2]

After the Gulf War in 1991, due to UN sanctions, the previously used Swiss printing was no longer available. A new, inferior quality notes issue was produced. The previous issue became known as the Swiss dinar and continued to circulate in the Kurdish region of Iraq. Due to sanctions placed on Iraq by the United States and the international community and excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

Following the deposition of Saddam Hussein in the 2003 invasion of Iraq, the Iraqi Governing Council and the Office for Reconstruction and Humanitarian Assistance began printing more Saddam dinar notes as a stopgap measure to maintain the money supply until new currency could be introduced.

Between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed by De La Rue using modern anti-forgery techniques, to "create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people’s everyday lives."[3] Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar.

These new banknotes led to a new industry of selling the new Iraqi dinar to oversea investors who hoped to profit from Iraq's new currency when the economy improved. The provisional government of Iraq has made this legal, but the banknotes are exchanged at different rates by companies wanting to make profit. Due to the success of this program, though, Iraqi dinar has been widely counterfeited. However, there are six different security features on the 25,000 Iraqi dinar note that one can check for authenticity.[4]

Although the value of the dinar appreciated following the introduction of the new banknotes from 4,000 dinars per U.S. dollar, at the time of their introduction, to a high of 980 dinars per dollar, it is now held at a "program" exchange rate, as specified by the International Monetary Fund,[citation needed] of 1170 dinars per US dollar at the Central Bank of Iraq. However, there is not yet a set international exchange rate and so international banks do not yet exchange Iraqi dinar. The exchange rate available on the streets of Iraq is around 1200 dinars per US dollar.

For a wider history surrounding currency in the region, see The History of British Currency in the Middle East.

[edit] Speculation

On May 3, 2007, the IMF released a statement in relation to the international compact with Iraq, which has turned the tide in regards to speculation on the Iraq dinar. The contents of the article discuss changes made in Iraq on the economic front of how the Iraq government had eliminated fuel subsidies. The article also stated that the Central Bank of Iraq had raised interest rates in an attempt to allow a gradual appreciation of the dinar in an attempt to fight dollarization of the Iraq economy. Although there are claims of widespread optimism of some language used later in the press release among some dinar speculators, there have been no publicly released statements or analysis by any news sources or governments.[5]

Since the introduction of the new Iraqi Dinar in 2004 after the fall of Sadaam Hussein, dinar speculators have resorted to private dealers to buy and sell the Iraqi Dinar because there is no public market for the Iraqi Dinar. Currently, dealers registered with the U.S. Treasury as a Money Service Business sell dinars for around $1100 per 1 million IQD.[6] It is yet to be seen how much of a return dinar speculators will receive.

[edit] Redenomination

This section does not cite any references or sources.

Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2010)

According to a Reuters report on 11 Feb 2010, Iraq expects to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to facilitate currency transactions.

Emerging from years of war and sanctions, Iraq is trying to revamp its economy and boost oil production with a raft of crude deals that may vault it to one of the world's top oil producers.

'The goal is to improve the payment and receiving system in the country and consequently to reform cash management,' said Mudher Kasim, a senior advisor at the central bank.

Kasim said that the central bank expected to start rolling out new notes by the end of the year or the beginning of 2011. Iraq has 25 trillion dinars in circulation, officials say. An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it is appropriate until recently.

http://www.rferl.org/content/Iraq_Planning_Currency_Redenomination/1950504.html

[edit] Coins

Coins were introduced in 1931 and 1932 in denominations of 1, 2, 4, 10, 20, 50 and 200 fils, with the 200 fils known as a rial. The 20, 50 and 200 fils were minted in silver. In 1953, silver 100 fils coins were introduced.

Following the establishment of the Iraqi Republic, a new series of coins was introduced in denominations of 1, 5, 10, 25, 50 and 100 fils, with the 25, 50 and 100 fils in silver until 1969. In 1970, 250 fils pieces were introduced, followed by 500 fils and 1 dinar coins in 1982. Coin production ceased after 1990.

In 2004, new 25, 50, and 100 dinars coins were introduced. However, these coins proved to be unpopular & were withdrawn from circulation.

END.

ACCORDING TO THIS THEY DID A 1 TO 1 EXCHANGE .... AS THE VALUE GOES BACK UP YOU NO LONGER HAVE A NEED FOR THE LARGER NOTES SO YOU SIMPLY CASH THEM IN (OR MAKE A DEPOSIT ) FOR SMALLER NOTES IF YOUR IN IRAQ .... OUTSIDE IRAQ WE MAKE A DEPOSIT AND POOF MONEY INTHE BANK..... THEY DID NOT HAVE 25 K NOTES BACK THEN BUT IF YOU HAD ENOUGH 250 NOTES YOU WOULD HAVE EXCHANGED THEM FOR A 25K NOTE SO FOR THEM TO NOW TURN A 25K INTO A 25 DOES NOT MAKE SENSE WHEN A 250 NOTE USE TO CARRY A HEAVY $750 US TAG.... HYPERINFLATION PRINT MORE MONEY. LOW INFLATION BUY BACK LARGE NOTES MEANS INCREASED VALUE. JMO ... REDRV

so your saying this investment is ****?

[REDRV]

I AM SAYING I FEEL STRONG ABOUT THIS INVESTMENT....... THEIR ECONOMY IS IMPROVING SO THEREFORE THEY NEED TO REMOVE SOME CURRENCY FROM THE CIRCULATION AND MAKE IT HAVE MORE VALUE AT THE SAME TIME........ THE IRAQI PEOPLE USE TO HAVE WEALTH LETS SAY YOU HAD 1000 DINAR BEFORE 1990 GULF WAR.. IT HAD VALUE AND THEN THE VALUE STARTED GOING DOWN RAPIDLY THEY DID NOT CREATE A NEW CURRENCY ON THE WAY DOWN IT TOOK MORE MONEY TO BUY THE SAME THING SO THEY HAD TO PRINT MORE MONEY .... NOW THINGS ARE GETTING BETTER AND NOW THEY NEED TO REMOVE SOME OF THE MONEY TO GIVE ITS VALUE BACK...... IF PRE 90 YOU WERE WEALTHY WITH 1 MILLION DINAR EQUAL TO 3MILLION AMERICAN WOULDN'T YOU BE UPSET IF YOU GOT BACK 1000 DINARS EQUAL TO 860 AMERICAN

I AM SAYING I FEEL STRONG ABOUT THIS INVESTMENT....... THEIR ECONOMY IS IMPROVING SO THEREFORE THEY NEED TO REMOVE SOME CURRENCY FROM THE CIRCULATION AND MAKE IT HAVE MORE VALUE AT THE SAME TIME........ THE IRAQI PEOPLE USE TO HAVE WEALTH LETS SAY YOU HAD 1000 DINAR BEFORE 1990 GULF WAR.. IT HAD VALUE AND THEN THE VALUE STARTED GOING DOWN RAPIDLY THEY DID NOT CREATE A NEW CURRENCY ON THE WAY DOWN IT TOOK MORE MONEY TO BUY THE SAME THING SO THEY HAD TO PRINT MORE MONEY .... NOW THINGS ARE GETTING BETTER AND NOW THEY NEED TO REMOVE SOME OF THE MONEY TO GIVE ITS VALUE BACK...... IF PRE 90 YOU WERE WEALTHY WITH 1 MILLION DINAR EQUAL TO 3MILLION AMERICAN WOULDN'T YOU BE UPSET IF YOU GOT BACK 1000 DINARS EQUAL TO 860 AMERICAN

HOW LONG WOULD IT TAKE THE 860 TO GROW TO 3MILLION AGAIN ON THE OPEN MARKET ?...

[keepmwlknfny]

I AM SAYING I FEEL STRONG ABOUT THIS INVESTMENT....... THEIR ECONOMY IS IMPROVING SO THEREFORE THEY NEED TO REMOVE SOME CURRENCY FROM THE CIRCULATION AND MAKE IT HAVE MORE VALUE AT THE SAME TIME........ THE IRAQI PEOPLE USE TO HAVE WEALTH LETS SAY YOU HAD 1000 DINAR BEFORE 1990 GULF WAR.. IT HAD VALUE AND THEN THE VALUE STARTED GOING DOWN RAPIDLY THEY DID NOT CREATE A NEW CURRENCY ON THE WAY DOWN IT TOOK MORE MONEY TO BUY THE SAME THING SO THEY HAD TO PRINT MORE MONEY .... NOW THINGS ARE GETTING BETTER AND NOW THEY NEED TO REMOVE SOME OF THE MONEY TO GIVE ITS VALUE BACK...... IF PRE 90 YOU WERE WEALTHY WITH 1 MILLION DINAR EQUAL TO 3MILLION AMERICAN WOULDN'T YOU BE UPSET IF YOU GOT BACK 1000 DINARS EQUAL TO 860 AMERICAN

You will have to excuse oil4life.....he only reads what he wants to see and Im guessing has a slight issue with reading and comprehension.....

[REDRV]

O ......... PLEASE REMEBER THIS IS JUST MY OPINION (S) I AM JUST ANOTHER POOR SOUL WHO WAS ROBBED OF MY JOB HOUSE TOYS BANK ACCOUNT..... BUT LIFE GOES ON GORV GIVE THE PEOPLE OF IRAQ BACK THEIR WEALTH MAKE IT RAIN 100 DINAR BILLS FOR ALL......... REDRV

[Oil4life]

I read what needed to be, KEEPM youa a clown

I read what needed to be, KEEPM youa a clown

ive been hearing from many of people that your a clown i'm not the only one... keep it goin your doing a great job

[jcav]

Wow! Santa is listening you know.

[xxxgator]

oiol 4 life answer this ? they already have a 25 dinar in circulation and it's worth is 25 dinar so why would they need to make the 25,000 dinar worth the same amount? If they just pull the higher denominations out of circulation without a rv then tthe people and foreign country's bank's etc. have to walk around with their pockets stuffed to the brim to buy a cup of coffee orloaf of bread.Lop will not happen and this thread should be in the lop section with the other lopsters.Read some more before you jump down keep'em walkin funny's throat.

[Oil4life]

oiol 4 life answer this ? they already have a 25 dinar in circulation and it's worth is 25 dinar so why would they need to make the 25,000 dinar worth the same amount? If they just pull the higher denominations out of circulation without a rv then tthe people and foreign country's bank's etc. have to walk around with their pockets stuffed to the brim to buy a cup of coffee orloaf of bread.Lop will not happen and this thread should be in the lop section with the other lopsters.Read some more before you jump down keep'em walkin funny's throat.

im the one that believes that the lop will NOT happen so read before you post and dont jump down my throat.... keepn is a big boy he can take care of himself...

[xxxgator]

The other question you have to ask yourself oil4life is why would they go to allthe effort of pulling all the large denom's if they were not planning an rv? Alot of work with no reason or expectation of a result.Read up on the marshal plan of post world war2 germany.It's the same thing as your seeing now.

Iread what you posted and that's not what isaw at all

[Oil4life]

The other question you have to ask yourself oil4life is why would they go to allthe effort of pulling all the large denom's if they were not planning an rv? Alot of work with no reason or expectation of a result.Read up on the marshal plan of post world war2 germany.It's the same thing as your seeing now.

Iread what you posted and that's not what isaw at all

i'm agreeing with you 100% LOP not guna happen

[Frank61]

Maybe you should stop with LOP talk Because nobody want's to here it...KEEP IT TO YOURSELF

I agree !! Good post.