RV still a ways off

[deepseadinar]

TYPICAL MR. RICH - SOUNDS LIKE THE CHAT ROOM HE FREQUENTS. I DO AGREE WITH PARTS OF THE ANALOGY AS A POSSIBILITY BECAUSE IT MAKES SOME SENSE BUT WITHOUT A LINK OR VERIFYABLE NAME OR REAL PERSON IT'S JUST DRIVAL AND ANOTHER HE SAID SHE SAID EMAIL. BLAH BLAH - SLAP A MINUS ON YOU!

IRAQ IS REBUILDING FASTER THAN PEOPLE THINK AND THE DRILLING LIKE CHINA IS UNDERWAY FOR SOME TIME NOW - IT MAY RV IN 2011 BUT NOT WAY DOWN THE ROAD - THEY CAN'T SUSTAIN THE WAIT PERIOD TO GET BACK TO LIVING. EVEN M SAID PUBLICLY - HE WANTS THE DINAR TO BE EQUAL TO KUWAIT! NOW! IT'S LIKE STOCK - YOU BOUGHT IT - NOW SIT BACK AND WAIT UNTIL IT MATURES.

[paj1985]

im thinking the same thing 6months when the dfi fund protection expires.good post mr rich.

[KramerDinar]

Though the conversation has some logic to it, I still think the main focus is not on us investors but the citizens of Iraq. Does anyone really believe they will stand another 2 years of living in poverty. Aside from that, this would also mean that Iraq would need to hold it together for the next few years. IMHO, I think they need to adjust their currency by the Summit. I do not expect them to jump it to $3 but do think they need to get out of the fraction of a penny conversion or it is not going to be enticing to any investor.

[keepmwlknfny]

"There is no set fixed rate of $3.22."

That right there shows you that e-mail is BS and the guy has no clue.

According to the GOI themselves the offical rate of the Iraqi Dinar is $3.22

Sorry Mr Rich but I will go with the Iraqi Government and what they have stated as fact on the MoP website over some non named so called bank expert mentioned in an e-mail that anyone could have fabricated.

Link to the real facts right from the GOI:

http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en

Thats still no set fixed rate.......they have been implementing 1.13 towards somethings and 3.20 or so for others to figure out what they call the REER (Real equilibrium exchange rate) But they have also stated that the 3.20 something rate was deemed over valued......as Iraq does have massive potential to POSSIBLY see a high rate in the future, that would be no where near close to anything soon....

TYPICAL MR. RICH - SOUNDS LIKE THE CHAT ROOM HE FREQUENTS. I DO AGREE WITH PARTS OF THE ANALOGY AS A POSSIBILITY BECAUSE IT MAKES SOME SENSE BUT WITHOUT A LINK OR VERIFYABLE NAME OR REAL PERSON IT'S JUST DRIVAL AND ANOTHER HE SAID SHE SAID EMAIL. BLAH BLAH - SLAP A MINUS ON YOU!

IRAQ IS REBUILDING FASTER THAN PEOPLE THINK AND THE DRILLING LIKE CHINA IS UNDERWAY FOR SOME TIME NOW - IT MAY RV IN 2011 BUT NOT WAY DOWN THE ROAD - THEY CAN'T SUSTAIN THE WAIT PERIOD TO GET BACK TO LIVING. EVEN M SAID PUBLICLY - HE WANTS THE DINAR TO BE EQUAL TO KUWAIT! NOW! IT'S LIKE STOCK - YOU BOUGHT IT - NOW SIT BACK AND WAIT UNTIL IT MATURES.

Where do you get your info from?? Seriously......I see you comment with rediculous theories and statements that sound like they have come from TK or Okie.......Maliki NEVER said he wants the dinar to be equal to Kuwait......and yes it may RV in 2011 but it WILL take time.....things like this dont happen with the snap of a finger.....if you think that everything will happen instantly with the finalization of the govt or the budget you have a big let down coming....

[tcat1]

just another opinion. Be realistic ...

[caz1104]

TYPICAL MR. RICH - SOUNDS LIKE THE CHAT ROOM HE FREQUENTS. I DO AGREE WITH PARTS OF THE ANALOGY AS A POSSIBILITY BECAUSE IT MAKES SOME SENSE BUT WITHOUT A LINK OR VERIFYABLE NAME OR REAL PERSON IT'S JUST DRIVAL AND ANOTHER HE SAID SHE SAID EMAIL. BLAH BLAH - SLAP A MINUS ON YOU!

IRAQ IS REBUILDING FASTER THAN PEOPLE THINK AND THE DRILLING LIKE CHINA IS UNDERWAY FOR SOME TIME NOW - IT MAY RV IN 2011 BUT NOT WAY DOWN THE ROAD - THEY CAN'T SUSTAIN THE WAIT PERIOD TO GET BACK TO LIVING. EVEN M SAID PUBLICLY - HE WANTS THE DINAR TO BE EQUAL TO KUWAIT! NOW! IT'S LIKE STOCK - YOU BOUGHT IT - NOW SIT BACK AND WAIT UNTIL IT MATURES.

I agree at times Mr Rich is too pessimistic for my taste's. But here he is just posting an email he recieved,does'nt mean he believes it.....................................................................GO RV 2011 BABY!!!!!

Edited January 28, 2011 by caz1104

[seus]

Never understood why everybody talks about this not being a get rich quick scenario. Quite frankly, it is going to be a get rich quick scenario for a handful of people. But, I don't think you have to tell the folks that have had Dinars since 2004 that this is not going to happen overnight. JMO

Yes exactly. I've been waiting since approx. the end of 2004 for this to happen. I literally bought it, stashed it away and have waited until a few others called me to tell me that it has RV'd. There was and still exists the possibility of completely losing everything all together on this. If I wanted to make money in a get rich quick scenario, I would've invested in many other things. 7 years and still no RV yet, is hardly quick. I will say this though. For how much I've purchased my dinar for over time, I've actually made more money than almost every person that I know was invested in the stock market and housing in the last 10 years. Food for thought...

[havasumom]

YOUR NEGATIVE thanks

kid with the blue hat seems to know evvvverrrrything ahahah good to see some researchers out there trying to make sense of the RV

[VanessaL4100]

Never understood why everybody talks about this not being a get rich quick scenario. Quite frankly, it is going to be a get rich quick scenario for a handful of people. But, I don't think you have to tell the folks that have had Dinars since 2004 that this is not going to happen overnight. JMO

I totally agree.

[JAS91]

I hope it happens soon

[dinardlee]

Never understood why everybody talks about this not being a get rich quick scenario. Quite frankly, it is going to be a get rich quick scenario for a handful of people. But, I don't think you have to tell the folks that have had Dinars since 2004 that this is not going to happen overnight. JMO

7 year wait is hardly a long wait for a $2000 investment turning into 6 million dollars if it were to RV at $3.00

Sounds like a get rich quick scenario for everybody. When's the last time you invested a few thousand dollars and turned into millions over 7 years? 10 years? 15 years?

IF this were to happen it will be a miracle, and yes it will be a get rich quick for EVERYONE.

[hopefullbk]

I have an opinion about this investment most folks dont want to hear so I refrain from stating it.

My persoanl opinion aside, while the author of the email does make some interesting points, it appears to be his opinion. What leads me to beleive that is if in fact the author is indeed from the middle east, how could his facts about Kuwait be so incorrect?

When I first became involved in this investment, I saw and read many posts that referred to the Kuwait "RV" and GDP history as one of the primary reasons Iraq needed to come RV at a similar rate to the KWD. Subsequently, I took about a 1/2 an hour of my time and simply did some research. Needless to say, there was so much info available, I spent hours studying it. (I have a weakness for history)

I would encourage all of you to take 15 minutes of your time and do a bing or a google search on the "history of the Kuwait dinar" and the "history of Kuwait oil production".

Trust me, you all spend much more time posting opinions on threads than it will take for you to get the REAL Kuwait facts.

My point is the author of this email is so far off relative to his/her comments about Kuwait, its hard to take anything else stated in this email as anything other than opinion.

Sorry if I'm sounding like a parent, but if you take just 15 minutes and read about Kuwait, you will see what I'm talking about. Be sure to look for the graphs of historical value changes in the KWD and the authors comments about Kuwaits historical value of their currency will stick out like a sore thumb. Just the fact that the author of this emal calls the Kuwait situation an RV and not what it actually was, an RI, should let you know its nothing more than an opinion piece. Not as much fact as the author would lead you to believe.

[keepmwlknfny]

YOUR NEGATIVE thanks

kid with the blue hat seems to know evvvverrrrything ahahah good to see some researchers out there trying to make sense of the RV

How is looking at the possible reality of the situation being negative??? Maybe if you did some good old fashioned research about the investment you got yourself into you might actually be able to comment intelligently about certain subjects......thats what I did....its really not that hard.....if you expect everything to be handed to you on a platter you can let okie and tk fill you up full of false forum facts.....

[L A Rider]

"There is no set fixed rate of $3.22."

That right there shows you that e-mail is BS and the guy has no clue.

According to the GOI themselves the offical rate of the Iraqi Dinar is $3.22

Sorry Mr Rich but I will go with the Iraqi Government and what they have stated as fact on the MoP website over some non named so called bank expert mentioned in an e-mail that anyone could have fabricated.

Link to the real facts right from the GOI:

http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en

Jack,

Great response to this blog and and some of the best information as to the potential RV (exchange rate) of the Dinar (right from the CBI website). In reviewing your link above (if I understand it correctly) It also shows the potential estimated value of the Dinar (based on current conditions) as $1.134 dollars = 1 Dinar. Quote from the CBI website: "Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities."

Thanks for your information based on facts and links to back it up.

LA Rider

[Marquess]

7 year wait is hardly a long wait for a $2000 investment turning into 6 million dollars if it were to RV at $3.00

Sounds like a get rich quick scenario for everybody. When's the last time you invested a few thousand dollars and turned into millions over 7 years? 10 years? 15 years?

IF this were to happen it will be a miracle, and yes it will be a get rich quick for EVERYONE.

Point taken. To answer your question though, I've never had this opportunity. Now, pose that same question to some people on Wall Street and the folks that were involved with the .com's of the 90's. My bet is it happens more often than you think.

[BANE]

Nah, I choose to ignore it. My positive attitude says I will be rich really soon. This year.

[MrRich]

Never understood why everybody talks about this not being a get rich quick scenario. Quite frankly, it is going to be a get rich quick scenario for a handful of people. But, I don't think you have to tell the folks that have had Dinars since 2004 that this is not going to happen overnight. JMO

Well obviously my statements weren't directed toward those who have been in this investment for several years. But there are tens of thousands (possibly hundreds of thousands) of people who bought dinar because they were led to believe that it would RV any day now. I see their posts all the time talking about how desperately they need this to happen. My comments were directed toward them. If you need an RV in order to turn your financial situation around I think you need to log off your computer and start looking for another solution. If it happens soon then great. But if it doesn't happen soon and you don't have any other plan you're basically screwed.

[dinnie]

"There is no set fixed rate of $3.22."

That right there shows you that e-mail is BS and the guy has no clue.

According to the GOI themselves the offical rate of the Iraqi Dinar is $3.22

Sorry Mr Rich but I will go with the Iraqi Government and what they have stated as fact on the MoP website over some non named so called bank expert mentioned in an e-mail that anyone could have fabricated.

Link to the real facts right from the GOI:

http://www.mop.gov.iq/mop/index.jsp?sid=1&id=308&pid=295&lng=en

Not correct. The last time it was at $3.22 was when Hussein was in power. Even then it was not traded at his "declared rate" the market was actually dramatically lower around $1 US / DINAR . The official GOI rate now is 1170 dinars/dollar ....less than a penny.

[hurricanewayne]

sorry but I don't believe this email. reason why is to me this is all second hand hear say and I don't believe hear say.

there is no way to comfirm this email or thats anything is real in it .

so I will just wait and see what happens and when it happens not letting this get in my head.

[andy3978]

Point taken. To answer your question though, I've never had this opportunity. Now, pose that same question to some people on Wall Street and the folks that were involved with the .com's of the 90's. My bet is it happens more often than you think.

Also dont forget when AT&T was broken up by the Fed and Ma Bell split into the Baby Bells (deregulation). Competition was introduced into the market place and a host of Telecom Companies cropped up, all with IPOs and over $100 per share. Many Many folks make A LOT of money. Just ask Paul Allen about his investment in Allegiance Telecom.

[thatoneguy]

Mr. Rich, thanks for the post. I think we all can concur that our investment isn't a get rich quick strategy. Its an investment. Some accelerate through the roof in a short period of time, others decelerate resulting in dramatic losses. We know this, i think. The only issue i have with your post is this: "Right now, Iraq has the oil under the sand, but they do not have the production facilities and infrastructure to bring sufficient quantities of that oil to market".

Isnt this where outside contractors come in? Maybe i am too optimistic and not realistic enough. But a rise in the value of the dinar is immenent(sp), whether rapidly or otherwise. No links, just my two cents. Oil is money, and IMO, Iraq will pursue this to the fullest. Maybe i'm ignorant to the politics of a newly democracized country, but the bottom line is the almighty dinar, for the people, for the country, and for the big dawgs in the GOI who would like to keep up with their persian neighbors.

Just opinions. Just optimistic. Just wanting an increase in dinar value as bad as the rest of us. GIT-R-DUN!

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