Wells Fargo Conversation

[breeze101]

LOP is dropping 3 0s off of the currency, making it near the value of the dollar

[sneakey]

The problem with those low figures is the fear of (lack of proper verbiage) hostile takeover.Once their currency is traded on the open market they will attract the attention of serious Investors after all they sit on the largest supply of the natural resource that the entire world wants.c. V v

Governments,Wales,huge Investors would buy up Gazillion's of dinar.

They don't think Iraq would allow that to happen.After all why come this far just to let someone own you like we have China?

Go RV / RI

And foreign investors are allowed to own property and companies in Iraq I believe.

Currency speculators would have a field day. There's no reason for Iraq to take several beatings,

When they can just hold thier nose and plunge on in to the deep end of the pool. IMO

[SaRSam]

I think the biggest problem is that there is no justifiable evidence, or good reasoning on why it would come in any lower than the original $3.22 In fact every move that every other country has made leads to at least the $3.22 or higher. I do agree with it possibly floating afterwards, and getting even higher, but anything lower would still be worthless to investors in Iraq not counting dinar holders of course.

[Econman33]

And foreign investors are allowed to own property and companies in Iraq I believe.

Currency speculators would have a field day. There's no reason for Iraq to take several beatings,

When they can just hold thier nose and plunge on in to the deep end of the pool. IMO

Based on CBI statistics, there is about 54.7 Trillion Dinar. 24 trillion outside of banks based on their November numbers. 30+ Trillion in Reserves. Notice how the Reserves have grown over the last couple of years. Look at required reserves and Excess reserves at the bottom 5 and 6 a & b. Reserves are more than 4 times required. That is stabolizing. Just an FYI.

I think the biggest problem is that there is no justifiable evidence, or good reasoning on why it would come in any lower than the original $3.22 In fact every move that every other country has made leads to at least the $3.22 or higher. I do agree with it possibly floating afterwards, and getting even higher, but anything lower would still be worthless to investors in Iraq not counting dinar holders of course.

Sorry but $3.22 was not recognized by anyone. Saddam did that, the market did not. He was jealous of Kuwait.

[umbertino]

LOP is dropping 3 0s off of the currency, making it near the value of the dollar

Thanks for being the one responding properly to the poster's question......All the others talked BS.

[Hope Floats.Rates Dont]

Just curious, why wouldn't the "Wales/huge investors" buy up a Gazillion right now? Wouldn't they stand to make more money when it does RV???

Most "huge investors" have thousands of peoples interest to consider (as fund managers, etc do). If the dinar were to RV at .17 and go "public" so to speak, then a "huge investor" could come in and literally out-ourchase the Iraqi govt. Almost a hostile takeover of the country's currency and control a great deal of the economy there. Investing now, even though much cheaper, still poses a true risk that most investors with that kind of capital, can't pass onto underling investors without permission. It is possible that this could actually be the hold-up in many ways..how low takes away that risk and how high is still realistic.

[hame55]

The other day I went into my local Wells Fargo branch. I have been a customer there for many years. While waiting in a somewhat long line, an assistant manager that I know came to me and said she would process my transaction at her desk.

After I concluded my business, I made a passing remark, “So how much is a dinar worth today”. Her response was, “You too. It’s still at 1170”. Surprised by the response, I ask her how she knew I was referring to the Iraqi dinar and the value. She told me that at least once a week someone comes into the bank and makes the same query, and asks about rumors of dinar increasing in value.

I then asked if there was any truth to these rumors. Her response was (paraphrasing her words), “Upper management has advised that if any questions are asked about the dinar, we can tell the customer the current rate; that bank has no opinion on rumors of increased valuation of the currency or any currency; and that you should speak to your financial consultant regarding investing in the dinar or any foreign currency.”

Because I know her I asked, “Do you have any dinar”, her response was “yes”. I then asked “between you and I, what do think is going to happen?” Her response was, (paraphrasing again); “Some days I think that they will remove the zeros, and other days I think that it will revalue, but if it does revalue, I seriously doubt that there will be a one to one exchange. It will more likely be a value somewhere between 17 cents to 37 cents.” I said to her, “I am also pessimistic that it will be a one to one exchange, but how did you come up with this odd number range?” She just smiled and said “rumors”. I left it at that, and said goodbye.

I don’t know if this indicates anything for the future, but I thought you (viewers of the site) would be interested.

Can someone plse explain, in short fashion, why you guys are SURE it will revalue, rather than just drop the zeros and we are let out in the cold. I know this is an LOP argument you've already gone over...but please...

[pureau79]

Even when it becomes internationally accepted it's still a long shot......no where is it written that the new govt will succeed and the rate will be what it once was.....instability is the biggest factor keeping alot of bigger players out of this....not the matter of it being accepted worldwide.....And with the instability it will keep foreign hands out of Iraq and investing in the currency

I cannot imagine why you got a negative out of this post, but I see your negative and raise you a positive. Truth is truth and some just can't handle it. $.17 or $.37 I'm way ahead of what I put into it. Go RV!

[keepmwlknfny]

Can someone plse explain, in short fashion, why you guys are SURE it will revalue, rather than just drop the zeros and we are let out in the cold. I know this is an LOP argument you've already gone over...but please...

There is arguments to both sides of the fence.....but there is no guarantee either way....thats the biggest part of this investment is the speculation that it will revalue....they could do either and life will go on as we know it and NO ONE will be screwed.....

I think the biggest problem is that there is no justifiable evidence, or good reasoning on why it would come in any lower than the original $3.22 In fact every move that every other country has made leads to at least the $3.22 or higher. I do agree with it possibly floating afterwards, and getting even higher, but anything lower would still be worthless to investors in Iraq not counting dinar holders of course.

Sure there is.....the biggest and concrete evidence that they cant come out at 3.22 is because of how much currency they have in circulation.....it just cant happen......with 27 trillion in physical cash in circulation they cannot revalue high at all......that money supply HAS TO be reduced.....no ifs ands or buts about it.....

[FOUNDIT]

Even when it becomes internationally accepted it's still a long shot......no where is it written that the new govt will succeed and the rate will be what it once was.....instability is the biggest factor keeping alot of bigger players out of this....not the matter of it being accepted worldwide.....And with the instability it will keep foreign hands out of Iraq and investing in the currency

I have several friends who have a pile off money and will only invest when the dinar RV'S. Their thought is at that point it will take off both on forex and currency.I for one know the hedge fund managers use insurance to back their huge currency investments.They will loose very little but the upside can be huge.Ya you can bet if it comes out low they will jump all over it.Would not surprise me to see Chavez in the mix either.....

[MrRich]

I think this whole "the whales will eat them alive at a low rate" theory comes from frank26 as a way of justifying his $3.86 prediction. I have never heard him address the 27 trillion money supply or the fact that a rate that high would give an occupied country with a fledgling dysfunctional democratic govt, terrorism, and sectarian violence to deal with the world's most valuable currency. Personally I think they will come out over $1, but it's not inconceivable that they would RV near the value of the Saudis.

[Carrello]

LOP = LOSS OF POTENTIAL

THE RV IS A JOKE AND NO RV - LOP PEOPLE ARE PESSAMISTIC DICKWEEDS! HANG IN - FOLLOW ADAMS INFORMATION.

If an RV is such a joke - what are you doing here? You must have a very sad life if you frequent and partake in an activity that you do not believe in.

You probably go to the dog park and you don't have a dog.

[Heavyduty053]

Most "huge investors" have thousands of peoples interest to consider (as fund managers, etc do). If the dinar were to RV at .17 and go "public" so to speak, then a "huge investor" could come in and literally out-ourchase the Iraqi govt. Almost a hostile takeover of the country's currency and control a great deal of the economy there. Investing now, even though much cheaper, still poses a true risk that most investors with that kind of capital, can't pass onto underling investors without permission. It is possible that this could actually be the hold-up in many ways..how low takes away that risk and how high is still realistic.

very true,we don't want that..........