Are they turning to oil production instead of RV?

[rdb]

Are they turning to oil production instead of RV to help there economy. This morning they stated how there exchange rate is stable... Who wouldnt want stability? Are they happy with 1170?

there is clearly nothing new to happen today so, lets just hope and pray RV is still a priority...

We should know soon if all this is real or not.

[breeze101]

I hope that's not the case. I would hope they still wanna be part of the WTO in which I believe they are supposed to close the gap in currency value. Am I right?

[Helicopter Barry]

Are they turning to oil production instead of RV to help there economy. This morning they stated how there exchange rate is stable... Who wouldnt want stability? Are they happy with 1170?

there is clearly nothing new to happen today so, lets just hope and pray RV is still a priority...

We should know soon if all this is real or not.

First post here, I tend to lean in the direction of an RV, Due to the rate published in the budget. LOP is a naughty term so I will use raise the 3 zero,s which imo would result in a .87 RV.

[rdb]

I hope that's not the case. I would hope they still wanna be part of the WTO in which I believe they are supposed to close the gap in currency value. Am I right?

there minds are changing a little too much. Nothing is a guarantee with them and nothing can be truly confirmed.

Just have to wait and see. I'm hoping some true progress for this week

Lets get it done iraq1

Edited February 7, 2011 by rdb

[reveldog]

they have already printed the smaller denoms , so i would guess the RV is still a go i just pray sooner than later

[hurricanewayne]

They are still working to RV the oil is what they are using to back up their money so they do need to make sure they have enough production going to cover themselves

[rdb]

they have already printed the smaller denoms , so i would guess the RV is still a go i just pray sooner than later

who told u that about the denoms???

[easyrider]

They are still working to RV the oil is what they are using to back up their money so they do need to make sure they have enough production going to cover themselves

agreed. Iraq doesnt want to be like the good ole USA and print money out of thin air with nothing to back it up increasing inflation veryyyyyyyyyy bad. So, point being Iraq will use the oil like was stated above to back their currency when they revalue which we should have done a long time ago!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

who told u that about the denoms???

soldier, its obvious they have smaller denoms isn't it? I mean how could they not? when their are 25k bills out in circulation you think people will be walking around with that high of a currency once they revalue? they wont. IMHO they will release the smaller denoms to the public and then they will RV at the same time.

[SmokinAce]

Do they really have to RV ? They can buy anything that me and you can buy, it just takes more of it to equal the same.. I really think they want to keep the people down.. kinda like a small town.. I live in a very small town .. They are alot of rich people that run the town that have there on little group.. Been goin on for years.. They do not want my little small town to grow any.. Why? Because if new people come in and new buisiness are brought in that means things are moving along and lookin better for the small people.. Then that takes away from there cookie jar.. just my opinion.. I am invested and have been for some time and i hope we will all be able to cash in someday HOPEFULLY VERY SOON..Lol..I just have that feeling that Iraq is like my small town.. GO RV!!! God bless you all ..

[breeze101]

I am trying to understand how this works with an oil backed currency. I thought it had to do with reserves they currently have in country rather than production. basically valuing in ground rather than what they can get out of it.???? I'm definitely tryin to catch up here, but gets a lil difficult with all the contraditions out there. Thanks for any info

[SidneyJr]

I believe Iraq will not pass up the opportunity to become a member of "WTO"

http://www.iraq-businessnews.com/tag/wto/

http://another site.wordpress.com/2010/10/05/iraq-is-preparing-to-join-the-world-trade-organization/

http://onedinar.forumotion.net/t21982-source-iraq-will-become-a-member-of-the-world-trade-organization-soon

Edited February 7, 2011 by SidneyJr

[SidneyJr]

One link didn't work. Sorry!

http://another site.wordpress.com/2010/10/05/iraq-is-preparing-to-join-the-world-trade-organization/

Edited February 7, 2011 by SidneyJr

[Networth]

I hope that's not the case. I would hope they still wanna be part of the WTO in which I believe they are supposed to close the gap in currency value. Am I right?

What gap? The value of one currency relative to another does not matter at all. People have this perception that if it takes 1170 units of one currency to equal one unit of another currency that is somehow bad. It's an irrelevant measure. Only the stability of the currency matters. The South Korean won trades at nearly 1,200 to 1 with the US dollar. South Korea is a WTO member. If Iraq RVs, I don't think it's going to be the sudden overnight change in value that people believe. I think it's going to quietly start trading openly on the currency exchanges (not via CBI auctions) and the ultimate value will be determine by the market's perception of the strength of the Iraqi economy. Owning currency is like owning stock in the country that prints it. People are only going to want to own it if they think it will be a safe store of value.

[breeze101]

What gap? The value of one currency relative to another does not matter at all. People have this perception that if it takes 1170 units of one currency to equal one unit of another currency that is somehow bad. It's an irrelevant measure. Only the stability of the currency matters. The South Korean won trades at nearly 1,200 to 1 with the US dollar. South Korea is a WTO member. If Iraq RVs, I don't think it's going to be the sudden overnight change in value that people believe. I think it's going to quietly start trading openly on the currency exchanges (not via CBI auctions) and the ultimate value will be determine by the market's perception of the strength of the Iraqi economy. Owning currency is like owning stock in the country that prints it. People are only going to want to own it if they think it will be a safe store of value.

I can see your point. I'm not gonna try to make believe I understand markets or currency. In fact I was just going by something I read as far as closing the gap between the dollar and Dinar. maybe it was misrepresented or I (most likely) misinterpreted. I can't remember the post verbatum and can't find it to reference. I appreciate the help

here is what I was going by..

An Iraqi task force was established in December 2004 to pave the way for the country’s membership in the organization, and it has officially submitted a request to the WTO expressing Iraq’s desire to join the organization.

“Iraq has taken big steps in its efforts to join the WTO especially after talks were held with the member states in the organization,” said Ibrahim Zenjili, a member of the task force, according to a report from AKnews.

He said the main duties of the task force are reducing the difference of value between the Iraqi Dinar and U.S. dollar and activating Iraq’s private sector.

Zenjili said the major condition set by the member states of the WTO for Iraq to join the organization is Iraq’s foreign debt – the country owes billions of dollars to various countries.

[LettheRVbegin]

I don't know why many of you guys talk in optimistic behavior and now today you guys are talking the opposite.....It's you guys that make people doubt whether or not they should stick with their dinars. Just hope for the best and bless you all..

[Networth]

He said the main duties of the task force are reducing the difference of value between the Iraqi Dinar and U.S. dollar and activating Iraq’s private sector.

That's a relatively vague statement and could mean lots of different things. Personally, I think Iraq has much going for it. That's why I bought dinar. However, I have never, ever felt a sudden, overnight revaluation was in the cards. The dinar could appreciate against the US dollar if Iraq can truly stabilize security in the country. It will appreciate if Iraq can fully exploit it's oil and gas resources. It has a relatively educated population, fertile land, and strategic location. There are many good reasons to own dinar.

But too many people have irresponsibly hyped this investment. And too many people have taken the bait. They try to read hidden RV messages into every single news item and event. Don't get caught in the trap. The allure of sudden riches can become a very emotional event for people. It's easy to throw rational, logical thinking out the window when that happens. Don't lose perspective.

[breeze101]

Lol on that I can agree! I bought my dinar while I was there with my poker winnings. I have not invested as to counting on this rv at anytime. I can't even tell you how much I have. It's scattered in envelopes that I sent back from there. I had no idea there was such a following til a potential customer brought it up. But now I'm trying to get myself educated on the subject. As far as optimism or pessimism, I really never figured to make it out of there anyway and I count my blessings daily. But it would be nice to make a lil coin for all those bad dreams. God Bless

[Carrello]

What gap? The value of one currency relative to another does not matter at all. People have this perception that if it takes 1170 units of one currency to equal one unit of another currency that is somehow bad. It's an irrelevant measure. Only the stability of the currency matters. The South Korean won trades at nearly 1,200 to 1 with the US dollar. South Korea is a WTO member. If Iraq RVs, I don't think it's going to be the sudden overnight change in value that people believe. I think it's going to quietly start trading openly on the currency exchanges (not via CBI auctions) and the ultimate value will be determine by the market's perception of the strength of the Iraqi economy. Owning currency is like owning stock in the country that prints it. People are only going to want to own it if they think it will be a safe store of value.

Networth, fyi many people have referenced a gap in the Iraq currency and the importance to close it so the IQD could be recognized by the WTO as an international tradeable currency. The poster has probably done some homework by reading posts others have written and the gap made sense, hence the reference.

[Helicopter Barry]

Networth, fyi many people have referenced a gap in the Iraq currency and the importance to close it so the IQD could be recognized by the WTO as an international tradeable currency. The poster has probably done some homework by reading posts others have written and the gap made sense, hence the reference.

Networth.........

You may want to let your fingers do the walking by S L O W L Y reading all the news that is a Published fact and not a rumor.

If you think the worlds 2nd or 3rd richest country will slither around with out a working tradable currency, You may have been sleeping when that course whizzed by.

[jdbellnj]

Has there ever been an EXPLICIT/documented article showing that IRAQ wants and is planning an RV and does anyone have the link? There has been so much contradicting info every minute that

I thought it be important to know for a fact that GOI wants and plans for an RV.

[imgesing]

An Iraqi task force was established in December 2004 to pave the way for the country’s membership in the organization, and it has officially submitted a request to the WTO expressing Iraq’s desire to join the organization.

“Iraq has taken big steps in its efforts to join the WTO especially after talks were held with the member states in the organization,” said Ibrahim Zenjili, a member of the task force, according to a report from AKnews.

He said the main duties of the task force are reducing the difference of value between the Iraqi Dinar and U.S. dollar and activating Iraq’s private sector.

Zenjili said the major condition set by the member states of the WTO for Iraq to join the organization is Iraq’s foreign debt – the country owes billions of dollars to various countries.

Read more:

[zul]

whtever they do...they have to think of the people. More so now. Is that wht the people of Iraq wants? 1170/1?

[bluejay]

I can't see that they could be happy with a currency that's not a world recognize currency. The IQD is at a value dictated buy act of war still useless..... But I do think the steady production of oil will gain stability for the region...Just My Opinion....