A REAL CALL FROM IRAQ!!

[muydinar]

I believe the rate was 2.86 prior to sanctions in the early 1990s. No link, but it has been discussed on here in the past.

[Dinar Holder]

just want it to revalue one way or the other.

go rv..........

[allinxpress]

I believe the rate was 2.86 prior to sanctions in the early 1990s. No link, but it has been discussed on here in the past.

Yea.. dont see 2.86 anywhere on here.

http://www.edinarfinancial.net/history.php

[aliveandcare]

The rate was not set by saddam.. u need to lok up the history of the IQD. Also, I would argue that there are different types of stability. If you say that Saddam provided stabily within Iraq, I would argue taht he was completely Unstable in the global view. and that has certainly changed. the UN is no longer afraid of what Iraq will do next. And yes they have a total money supply of 27 trillion now, but they also have the assests (gold, oil, natural gas and sulfur) to Back that up, whereas before, Saddam kept all the gold for himself, and didnt intergrate it into the economy.

Also they did have bombs going off, unfortunaltey, it was from the army of Iraq against the people of Iraq. That will be changed as well.

I could be way wrong here, but I just have this feeling. I try to look at this as a person coming out of bankruptcy.. they go to the bank to get a new LOC and the bank mgr has to look at what assets to let u borrow against.. and Iraq has the assets they need, and now the Friends vouching for them that they need also. that is why I feel the rate will be 3.22 or higher.

Actually, the rate WAS set by saddam. Thats just common knowledge. From 1979 till 2003, he "decided" the value of the country currency. Thats why they were pulled from the world trade market. One day he said its worth 3.22. They other day, he said it was worth 6.00 the other day he said it was worth 4.00. You get where I am going with this? Thats why he decided to invade Kuwait... He wanted their money. He went their to take it. IMF got wind, devalued it to worthless, issued a new currency, and RI after the war. I am not going to give a history lesson here, but the situations with both countries are night and day to one another. they will RV, not RI, and it will be under or just over a dollar. And, they did have bombs going off in the streets. The Kurds have always been fighting with them.

[sniper69]

From what I understand Sadr the shiite is in Najaf telling everyone to resist the U.S. I't was on CNN this morning someone needs to put a bullet in his head!!!!!

[BadCobra]

Actually, the rate WAS set by saddam. Thats just common knowledge. From 1979 till 2003, he "decided" the value of the country currency. Thats why they were pulled from the world trade market. One day he said its worth 3.22. They other day, he said it was worth 6.00 the other day he said it was worth 4.00. You get where I am going with this? Thats why he decided to invade Kuwait... He wanted their money. He went their to take it. IMF got wind, devalued it to worthless, issued a new currency, and RI after the war. I am not going to give a history lesson here, but the situations with both countries are night and day to one another. they will RV, not RI, and it will be under or just over a dollar. And, they did have bombs going off in the streets. The Kurds have always been fighting with them.

Thanks for the supporting confirmation. (+1).

[hopefullbk]

http://en.wikipedia.org/wiki/Iraqi_dinar

Here is the wikipedia version of the IQD history.

[BadCobra]

http://en.wikipedia....iki/Iraqi_dinar

Here is the wikipedia version of the IQD history.

Very nice Wiki reference that also shows old and new IQD currency pictures, thanks (+1). Now, why didn't I think of that? Oh, not as bright as you!!!

Edited January 8, 2011 by BadCobra

[crazy joe]

$3.22 was a bogus rate set by Saddam, but even if it was legit the circumstances back then were quite different. Iraq had a total money supply of less than half a trillion at the time as opposed to 27 trillion that they had after the new IQD was issued. We don't know how much they've managed to remove from circulation but it's certainly nowhere near where it was 20 years ago. They weren't an occupied country back then. They didn't have terrorist bombs going off. For all of his faults Saddam did provide his country with a certain amount of stability that they are presently lacking, and stability is a key factor in determining the value of a nation's currency. Without that stability there's no way they will have the world's most valuable currency.

Chaos before Capitalism...