Central Bank: It is time to re-evaluate the currency, commensurate with the price changes and the wage in the economy

[dinarck]

Thanks Drox.

It does give me some hope that there is a way it could happen. He also makes a good point of other countries who have huge M2 numbers but we are not holding thier currency hoping for them to RV. Iraqs money in circulation is what has me worried. Guess we wait and see.

[keepmwlknfny]

And a year ago or so I heard they stated 70% were already removed. So it doesn't sound like their is an unmanageable amount left to me.

Its because they didnt remove 70% of the currency in circulation......they removed excess liquidity which actually adds to the money supply....it doesnt take anything away.....another prime example of an article twisted around to meaning something its not and how forum facts get started

[skepticaldinar]

Recently removed at least 3 trillion. And a year ago or so I heard they stated 70% were already removed. So it doesn't sound like their is an unmanageable amount left to me.

why would they be removing any large notes at all if they intend to lop?

Who did you hear this from. I remember that pumped rumor going around as well about a year ago.The worst part was that some of the more followed die hard believers on these sites added the rumor with well thought out and respected opinions of what they invisioned as a possibility as to what could happen in Iraq.As time passed,this was passed along as dinar gospel and all started from 1 little article that was twisted around for the purpose of adding fact to ones personal beliefs to mean that actual currency had been reeled in. Did you hear it from another source that may be viable?If so, this would be huge news and I would love to know.

[AK47]

إطبع Print أرسل إلى صديق Send to a Friend علق على المقال Commented on the article

أخبار العراق Iraq News

البنك المركزي: آن الأوان لإعادة تقييم العملة بما يتناسب والتغييرات السعرية والأَجرية في الاقتصاد Central Bank: It is time to re-evaluate the currency, commensurate with the price changes and the wage in the economy

الثلاثاء 19 نيسان 2011 15:58 GMT Tuesday, 19 نيسان 2011 15:58 GMT

قد لا تبقى هناك حاجة لان يعمل هذا العداد بهذه السرعة إذا ما طبق البنك المركزي مشروعه بحذف ثلاثة أصفار من العملة العراقية .. May not remain there is a need to act for this counter so quickly if applied to the central bank project by deleting three zeros from the Iraqi currency .. فالبنك الذي يرسم السياسة النقدية للبلاد يؤكد أنه حان الأوان لإعادة تقييم العملة بما يناسب التغييرات السعرية والأجرية في الاقتصاد. Bank, which sets monetary policy for the country confirms that it is time to re-evaluate the currency to suit the changes in the wage-price and economy.

مظهر محمد صالح/ مستشار البنك المركزي العراقي : The appearance of Mohammed Saleh / adviser to the CBI:

(العراق بعد خمس سنوات مقبل على انتاج نفطي كبير 6 ملايين الى 12 مليون برميل نفط العراق سيكون قوة اقليمية في ادارة الطاقة في العالم وستكون عائداته كبيرة والنظام النقدي الحالي نظام ادارة العملة بهذا الشكل هو نتاج مرحلة متخلفة شئنا ام أبينا لازم نصلح ادارة العملة بعد خمس سنين راح تصير كتلة نقدية كبيرة ) (Iraq after five years on the verge of producing a large oil 6 million to 12 million barrels of Iraqi oil would be a regional power in the management of energy in the world and will be the proceeds of a large system and the current cash management system currency in this way is a product of phase lag like it or not needed reform the management of currency after five years claimed the block becomes large cash)

محال وشركات الصيرفة لم تكن متحمسة للمشروع الذي تقول ان تطبيقه قد يسبب مشاكل اقتصادية او تقنية لا داعي لها في الوقت الحاضر. Shops, banking companies were not enthusiastic about the project, which says that its application may cause economic problems or technical unnecessary at the present time.

صاحب محل صيرفة Shop owner Banking

(هي مو وقتها لأن اذا ميستقر اقتصاد البلد ويستقر سعر البنك المركزي بالبيع والشراء للدولار منكدر نستخدم رفع الاصفار ) (Mo is the time because if Mistqr country's economy and stabilize exchange rates, buying and selling of the dollar Menkdr use the lifting of the zeroes)

صاحب محل صيرفة Shop owner Banking

(هذا الشي احنا منكدر نحدده هسة مسالة تعتمد على التطبيق يجوز تظهر بعدين مشاكل احتمال بالفروقات بالكسور بأشياء وامور هواية فنية ) (This thing we Menkdr TOGETHER we identify the issue depends on the application may show problems then the possibility of fractures disparity of individual things and things hobby art)

اما بالنسبة للمواطنين فان حذف الاصفار يعيدهم بالذاكرة الى ايام قوة الدينار العراقي وهو امر رحب به البعض بينما بدا الاخرون غير مقتنعين بامكانية تطبيقه As for the citizens, the deletion of zeros memory bring them back to the days of the power of the Iraqi dinar which is welcomed by some, while others appeared unconvinced by the possibility of its application

مواطن Citizen

(والله كلش اوكي رح يرفع من الاقتصاد العراقي ويرجعنا ايام الدينار مال قبل اللي جان اله قيمة وتصيرله قوة شرائية وبالدول هم) (God, Kalash Aoki suggested raising of the Iraqi economy and brings us back the dinar money days before the God who commissions Tasirlh value and purchasing power and the States they are)

مواطن Citizen

(هو نفس الشي اذا رفع الاصفار هو الدينار مالتنا واصلا حتى بالخارج محد يستقبله) (Is the same thing if the lifting of the zeroes is the dinar Maltna and even abroad Mahd originally received by)

مواطن Citizen

(بالنسبة لرفع الاصفار فد شي منطقي لأن بدل مايصير كلام بالترليون يصير بالمليارات حتى الناس تفتهم ) (For the lifting of the zeroes FD Shi logical because the allowance Maiasir trillion words become even billions of people Fhm)

اما بالنسبة لخبراء الاقتصاد فيطمأنون إن موضوع حذف الأصفار لن يشكل فارقاً في التعامل النقدي او يؤثر باي شكل على الاقتصاد العراقي مالم يراع تغيير قيمة صرفه بالنسبة الى الدولار As for the economists Vitmonon The theme of the deletion of zeros will not make a difference in handling cash or in any way affect the Iraqi economy unless they take into account the changing value of exchange in relation to the dollar

علي الفكيكي / خبير اقتصادي : Ali gnathion NA / Economist:

(هذه هي عملية ادارية تخص البنك المركزي نفسه في ادارة العملة وبالنسبة للاقتصاد سيبقى إلا اذا تغير سعر الصرف للدينار العراقي مثلا الان هو الدولار 1180 دينار فيجوز اذا سووه يعني 3 صفارة 118 او هل سيكون 1.0 ذاك الوكت اذا صار واحد فاصل صفر الدينار للدولار معناه تحسين القوة الشرائية للدينار) (This is an administrative process involving the central bank itself in the management of currency and the economy will remain only if the change rate of the Iraqi dinar for example, now is a dollar in 1180 JD permissible if Swoh means three whistle 118 or you will be 1.0 that Alukt if it has become one break zero dinar to the dollar means to improve the purchasing power of the dinar)

ويبدي البنك المركزي العراقي تحفظه من الانتقادات وردود الأفعال التي أثيرت حول مشروعه لحذف الأصفار من العملة، مبيناً انه مشروعه مبني على دراسة مستفيضة تخدم الاقتصاد العراقي وستقدم حال انتهائها إلى مجلسي الوزراء والنواب. And show the Iraqi Central Bank reservation of criticism and reactions that have been raised about the project to delete the zeros from the currency, noting that his project is based on a thorough study to serve the Iraqi economy will be the case ended, the Council of Ministers and House of Representatives.

http://www.alsumaria.tv/ar/Iraq-News/1-63189-.html'>http://translate.google.com/translate?hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.alsumaria.tv/ar/Iraq-News/1-63189-.html

http://www.alsumaria.tv/ar/Iraq-News/1-63189-.html

I feel (hope) like we are getting very very close!

Who did you hear this from. I remember that pumped rumor going around as well about a year ago.The worst part was that some of the more followed die hard believers on these sites added the rumor with well thought out and respected opinions of what they invisioned as a possibility as to what could happen in Iraq.As time passed,this was passed along as dinar gospel and all started from 1 little article that was twisted around for the purpose of adding fact to ones personal beliefs to mean that actual currency had been reeled in. Did you hear it from another source that may be viable?If so, this would be huge news and I would love to know.

I still want to know how anyone really knows how much dinar has been taken out of circulation? Does this only refer to the dinar in Iraq?

[sac]

I would like to bring up 3 point. When our country first became a country. It had very large currency. $500,000.00. If today you still had a $500,000.00 dollar bill it would still be worth that today. 2nd point. If Iraq & our country was planing on this to happen. Then why did we spend so much time, money, & effort to make it counterfelt proof knowing it was goint to lop insteaad of rv. The only different between our country & Iraq is we had gold to back our dollar & they now have oil. You can think what you want, but this was well plan out between our countrys & a course England. Bush always said Iraq would pay for the war. Another thing, how do you know how much we paid for the war. We lost a lot of lives over their & the ones that have come back are pretty screw up. How many families have been broken up because of the war. I could go on & on about how we paid for the war to make Iraq a great country. But I think everyone has got my point.You can't really put a price on what the war cost.

Just another comment to make everyone think a little.

[skepticaldinar]

I would like to bring up 3 point. When our country first became a country. It had very large currency. $500,000.00. If today you still had a $500,000.00 dollar bill it would still be worth that today. 2nd point. If Iraq & our country was planing on this to happen. Then why did we spend so much time, money, & effort to make it counterfelt proof knowing it was goint to lop insteaad of rv. The only different between our country & Iraq is we had gold to back our dollar & they now have oil. You can think what you want, but this was well plan out between our countrys & a course England. Bush always said Iraq would pay for the war. Another thing, how do you know how much we paid for the war. We lost a lot of lives over their & the ones that have come back are pretty screw up. How many families have been broken up because of the war. I could go on & on about how we paid for the war to make Iraq a great country. But I think everyone has got my point.You can't really put a price on what the war cost.

Just another comment to make everyone think a little.

You are correct in that you can't put a price on the lives lost in war. But as Bush stated,the war would pay for itself.... I believe he was referring to a sweetheart of a deal that we would receive on oil. 1 We receive a great under the table buy rate on oil for us 2 can make a nice turnaround on being a middle man if we see fit 3 do not have to exhaust our own oil reserves which is huge within itself.

[YourIntelSux]

How can a LOP before a RV in anyway help the Iraqi citizens? I do see where it helps reduce the money supply but I do not see how it will stop the protesting. With all the plans and contracts to build residential and commercial infrastructure a LOP doesn't seem feasible. If the average Iraqi citizens annual income is $3000 USD, who is going to be purchasing the the homes and businesses from the planned development? Even if they RV'd at $3.00 after the LOP, the average citizen is now making $9000 annually. I find it hard to believe that the iraqis will be "dancing in the street" like someone mentioned earlier when their buying power only gets slightly better. The Iraqi people are not investors like us. This is there livelihood and a small increase like that still doesnt make living conditions much better. Yes I understand the pricing of goods and services would be adjusted accordingly, but there still has to be a decent median income for the Iraqis to purchase items such as home, cars, etc. I don't care where you live, $9000 annually will not pull anyone out of poverty. The are minimum costs when it comes to building a home or vehicle no matter where you live and $9000 annually is not going to cut it. The materials alone to build a home far exceed $9k before you even purchase the land. Again I ask, who is supposed to be buying these homes and businesses? What bank is going to lend money to a person that makes $9k per year? Banks lending money is needed for an economy to grow right?

I would like to hear some of the loppers solutions for the remaining poverty issue after a LOP. The money supply seems to be the "go to" reason for people that are claiming the LOP, but the money supply is only one of many issues in Iraq. That's why this shouldn't be compared to other countries. I'm not claiming it's going to LOP or RV. Fact of the matter is we really do not know until the announcement. Again, I'm not trying to start an argument. Like I said, the money supply issue scares me. I just want to hear if there are any solutions for Iraqs poverty issue if there is a LOP before an RV because this is one of Iraqs goals. Not just reducing the money supply.

[Doctor Smith]

How can a LOP before a RV in anyway help the Iraqi citizens? I do see where it helps reduce the money supply but I do not see how it will stop the protesting. With all the plans and contracts to build residential and commercial infrastructure a LOP doesn't seem feasible. If the average Iraqi citizens annual income is $3000 USD, who is going to be purchasing the the homes and businesses from the planned development? Even if they RV'd at $3.00 after the LOP, the average citizen is now making $9000 annually. I find it hard to believe that the iraqis will be "dancing in the street" like someone mentioned earlier when their buying power only gets slightly better. The Iraqi people are not investors like us. This is there livelihood and a small increase like that still doesnt make living conditions much better. Yes I understand the pricing of goods and services would be adjusted accordingly, but there still has to be a decent median income for the Iraqis to purchase items such as home, cars, etc. I don't care where you live, $9000 annually will not pull anyone out of poverty. The are minimum costs when it comes to building a home or vehicle no matter where you live and $9000 annually is not going to cut it. The materials alone to build a home far exceed $9k before you even purchase the land. Again I ask, who is supposed to be buying these homes and businesses? What bank is going to lend money to a person that makes $9k per year? Banks lending money is needed for an economy to grow right?

I would like to hear some of the loppers solutions for the remaining poverty issue after a LOP. The money supply seems to be the "go to" reason for people that are claiming the LOP, but the money supply is only one of many issues in Iraq. That's why this shouldn't be compared to other countries. I'm not claiming it's going to LOP or RV. Fact of the matter is we really do not know until the announcement. Again, I'm not trying to start an argument. Like I said, the money supply issue scares me. I just want to hear if there are any solutions for Iraqs poverty issue if there is a LOP before an RV because this is one of Iraqs goals. Not just reducing the money supply.

Having too much money in Iraq when it goes up in value isn't a problem for Iraq. I would think they are pulling in the bills because the IMF demands it. Using electronic credit instead of paper so they don't have to carry huge amounts of bills around as the larger denominations are taken out of the local economy.

Listen to the latest blog Radio on the DD site. The currency experts say it isn't going to lop.

[Bull Dog]

Can we do some math here with factual information?

[dinarck]

Having too much money in Iraq when it goes up in value isn't a problem for Iraq. I would think they are pulling in the bills because the IMF demands it. Using electronic credit instead of paper so they don't have to carry huge amounts of bills around as the larger denominations are taken out of the local economy.

Listen to the latest blog Radio on the DD site. The currency experts say it isn't going to lop.

Again..........if it makes you feel better to believe the pump coming out of that CC then that's up to you but I aint buyin it. He didn't address the money in circulation. He didn't address what Shabbibi said. All he did was keep the pump going by stating unverified crap. It is pretty telling to me that he would say at the end of the CC that fractional banking was the plan all along. Yeah, OK. And if it is so great for Iraq to have alot of money in counrty post RV,why are they pulling it all? Show me where the IMF demands Iraq take the majority of it's money supply out of circulation.

[Doctor Smith]

Read more: http://dinarvets.com/forums/index.php?/topic/63180-central-bank-it-is-time-to-re-evaluate-the-currency-commensurate-with-the-price-changes-and-the-wage-in-the-economy/page__st__200#ixzz1KSDG8Gub

Again..........if it makes you feel better to believe the pump coming out of that CC then that's up to you but I aint buyin it.

I don't think either one of them sell Dinar so could you explain who and what they are pumping for? And maybe you could also find a currency expert with an opposing view?

He didn't address the money in circulation. He didn't address what Shabbibi said. All he did was keep the pump going by stating unverified crap.

He said the lifting of the zero's (Shabbibi) is the removal of the larger bills. And Shabbibi himself told us he wouldn't tell anyone what was actually going to happen, so why are you hanging on his every word? Unverified articles are ofte articles that you no longer have access to. After a few days. For example I can't find an article (about a Korean - Iraq oil deal) that is only a few days old. The article was off of the AKA Kurdish site. Doesn't mean the article wasn't published a few days before.

And if it is so great for Iraq to have alot of money in counrty post RV,why are they pulling it all? Show me where the IMF demands Iraq take the majority of it's money supply out of circulation.

If you posses say 20 trillion Dinars and all of the sudden you have the equivalent of 20 trillion US Dollars you would have more money than everyone put together on the planet. Iraq would love that. In my opinion the IMF would not allow that to happen. So that is why they are pulling in the larger bills.

[Bull Dog]

Can someone please kill this and start a new topic line?????????????

[dng4462]

I agree that this is not the news we would like - It's a great find but - I was hoping it didn't lop.

[quadraph0nic]

I have a bottom and I have a top for this thing. If something happens outside of those parameters then I will be either disappointed or peeing on my coworkers desk!!

i like my bosses too much they are good people!

Observe what they say but hold on for what they do.

Edited April 24, 2011 by quadraph0nic

[Dinar-Tard]

Okay. I have been reading posts on this site for a while now without replying and I guess I feel like it's time for me to chime in. This has probably been said in some form before, but here goes: I am a very skeptical person by nature. So much so that I had refused to buy dinar, dispite a friend's constant urging, until just a few months ago. I am usually a firm believer in the "if it sounds too good..." philosophy, especially when it comes to monetary investments. After researching the hell out of this - which has included reading MANY of all of your posts on this site - I decided that the RV was definitely a POSSIBILITY, and that it would be stupid not to at least invest a little - so, I did. Now, after months of reading the few pertinent news articles I could find and pouring over all of the information/opinion that you guys have put forth, I am still no closer to being convinced one way or the other. It seems that in every case, there is always just as good a counter-point to every point made regarding the dinar. I finally caved and got into this because, after weighing all the info, I truly believe that there is no way that this investment doesn't AT LEAST break even, and that is why I'm in. I will share a few of my experiences with you guys now.

When I first went to 5/3rd Bank to buy my dinar the bank manager told me that " she wouldn't recommend buying dinar." When I asked her why, she said that people were already turning it in because it was losing money. REALLY?? Less than 1/1000 of a cent caused people to cash out. I explained that they were probably people who couldn't afford to wait it out and needed the money. When I brought these things to her attention she smirked and said something along the line of " well, we have been told to discourage people from buying dinar." Now, you can take the smirk a few differnt ways. For me , it seemed like she was conceding something. Like when you are half way through a joke and you realize that your audience already knows the punch line. Could have been nothing. I don't know. One thing was for sure though, she was perfectly aware of my intent to use this as an investment and she didn't try to hide it. In fact, we discussed it as such. She definitely didn't tell me that I could only order dinar for travel to Iraq (see 5/3rd memo for why they stopped selling the other day LOL). The teller by the way, had no idea what I was doing and had to be walked through the process of ordering the dinar by the manager. Anybody else have a similair experience?

My second surreal experience was when I opened a Warka account and went to my bank to wire funds. This time, I used my account at PNC bank. As some of you probably know, an international wire transfer form takes a few minutes to fill out as there is a lot of information that needs to be entered. At my bank (and probably most) the banker fills it out via computer. So...when I sat down, we started talking. When she was almost finished plugging all of my info into the computer, her face lit up and she asked me why I was wiring this money. When I told her what I was doing, she got so excited that she accidentally cleared the form. She said it was the first time she had ever done that. She said that her husband heard about this investment in Texas from somebody he knows in the US government and that they had a couple million stored in a safe deposit box themselves. Huh...

This last one is secondhand, but from a very trustworthy source - the guy who talked me into this. His son went to 5/3rd Bank to buy 100K worth and he was directed to sit down with a banker. The banker said that he was really impressed to see somebody of his age (about 19 I think) taking initiative on an investment such as this. When my friend's son said that he thought that it was going to RV at around $3, the banker laughed and said "we don't see it coming in at anything under $5." Again, take this for what you will, but I do believe this account to be true. The banker may be crazy, who knows. lol

Now, the one thing I take from these experiences is that I don't believe that this is as wide-spread as some are making it out to be. I think there is a very small percentage of people in on this investment worldwide. Hopefully small enough that the prospect of making us into millionaires isn't going to deter the people/governments involved from doing whatever it is they have had planned for a long time now. My teller at 5/3rd had never had to order dinar before, and my banker at PNC had obviously never wired money to Warka before. It does, however, seem like bankers and government employees are investing in this. I don't know. I guess I am just trying to tell you all why I got involved in this. These people could be just as delusional as me, and I realize this. But, to me, the possibiIity is just too great to ignore - and the risk too small. I definitely don't have more than I can afford invested, and I would suggest the same to everyone. I also want to say that NOBODY has convinced me 100% that their scenario is going to play out exactly as they say it will. So, unless you have factual evidence/current news stories to back up your "THEORY," I would urge you to stop posting as if you KNOW anything. None of us do. Thanks for letting me ramble and good luck to us all.

[dinarck]

Read more: http://dinarvets.com/forums/index.php?/topic/63180-central-bank-it-is-time-to-re-evaluate-the-currency-commensurate-with-the-price-changes-and-the-wage-in-the-economy/page__st__200#ixzz1KSDG8Gub

I don't think either one of them sell Dinar so could you explain who and what they are pumping for? And maybe you could also find a currency expert with an opposing view?

He said the lifting of the zero's (Shabbibi) is the removal of the larger bills. And Shabbibi himself told us he wouldn't tell anyone what was actually going to happen, so why are you hanging on his every word? Unverified articles are ofte articles that you no longer have access to. After a few days. For example I can't find an article (about a Korean - Iraq oil deal) that is only a few days old. The article was off of the AKA Kurdish site. Doesn't mean the article wasn't published a few days before.

If you posses say 20 trillion Dinars and all of the sudden you have the equivalent of 20 trillion US Dollars you would have more money than everyone put together on the planet. Iraq would love that. In my opinion the IMF would not allow that to happen. So that is why they are pulling in the larger bills.

OK Brietling or whatever his name is in your opinion is a currency expert. Sure ok. This guy was stumbling and fumbling all over himself. Even Roger was like uuuummmm....OK. Nothing this guy said made any sense at all. He said right off the bat that they were pulling all the large notes out of Iraq. It is easy to say that but why doesn't he bring something to back it up? O yeah he said they all have smart cards now. OK but do they all have electricity now more less swipe machines. Something doesn't smell right. In my opinion this dude was just trying to say what all the followers wanted to hear. The other guy who was on I kinda like. He seems smart and down to earth but you have to admitt he has an agenda to keep the pump going. The guy works for a dinar dealer.

Okay. I have been reading posts on this site for a while now without replying and I guess I feel like it's time for me to chime in. This has probably been said in some form before, but here goes: I am a very skeptical person by nature. So much so that I had refused to buy dinar, dispite a friend's constant urging, until just a few months ago. I am usually a firm believer in the "if it sounds too good..." philosophy, especially when it comes to monetary investments. After researching the hell out of this - which has included reading MANY of all of your posts on this site - I decided that the RV was definitely a POSSIBILITY, and that it would be stupid not to at least invest a little - so, I did. Now, after months of reading the few pertinent news articles I could find and pouring over all of the information/opinion that you guys have put forth, I am still no closer to being convinced one way or the other. It seems that in every case, there is always just as good a counter-point to every point made regarding the dinar. I finally caved and got into this because, after weighing all the info, I truly believe that there is no way that this investment doesn't AT LEAST break even, and that is why I'm in. I will share a few of my experiences with you guys now.

When I first went to 5/3rd Bank to buy my dinar the bank manager told me that " she wouldn't recommend buying dinar." When I asked her why, she said that people were already turning it in because it was losing money. REALLY?? Less than 1/1000 of a cent caused people to cash out. I explained that they were probably people who couldn't afford to wait it out and needed the money. When I brought these things to her attention she smirked and said something along the line of " well, we have been told to discourage people from buying dinar." Now, you can take the smirk a few differnt ways. For me , it seemed like she was conceding something. Like when you are half way through a joke and you realize that your audience already knows the punch line. Could have been nothing. I don't know. One thing was for sure though, she was perfectly aware of my intent to use this as an investment and she didn't try to hide it. In fact, we discussed it as such. She definitely didn't tell me that I could only order dinar for travel to Iraq (see 5/3rd memo for why they stopped selling the other day LOL). The teller by the way, had no idea what I was doing and had to be walked through the process of ordering the dinar by the manager. Anybody else have a similair experience?

My second surreal experience was when I opened a Warka account and went to my bank to wire funds. This time, I used my account at PNC bank. As some of you probably know, an international wire transfer form takes a few minutes to fill out as there is a lot of information that needs to be entered. At my bank (and probably most) the banker fills it out via computer. So...when I sat down, we started talking. When she was almost finished plugging all of my info into the computer, her face lit up and she asked me why I was wiring this money. When I told her what I was doing, she got so excited that she accidentally cleared the form. She said it was the first time she had ever done that. She said that her husband heard about this investment in Texas from somebody he knows in the US government and that they had a couple million stored in a safe deposit box themselves. Huh...

This last one is secondhand, but from a very trustworthy source - the guy who talked me into this. His son went to 5/3rd Bank to buy 100K worth and he was directed to sit down with a banker. The banker said that he was really impressed to see somebody of his age (about 19 I think) taking initiative on an investment such as this. When my friend's son said that he thought that it was going to RV at around $3, the banker laughed and said "we don't see it coming in at anything under $5." Again, take this for what you will, but I do believe this account to be true. The banker may be crazy, who knows. lol

Now, the one thing I take from these experiences is that I don't believe that this is as wide-spread as some are making it out to be. I think there is a very small percentage of people in on this investment worldwide. Hopefully small enough that the prospect of making us into millionaires isn't going to deter the people/governments involved from doing whatever it is they have had planned for a long time now. My teller at 5/3rd had never had to order dinar before, and my banker at PNC had obviously never wired money to Warka before. It does, however, seem like bankers and government employees are investing in this. I don't know. I guess I am just trying to tell you all why I got involved in this. These people could be just as delusional as me, and I realize this. But, to me, the possibiIity is just too great to ignore - and the risk too small. I definitely don't have more than I can afford invested, and I would suggest the same to everyone. I also want to say that NOBODY has convinced me 100% that their scenario is going to play out exactly as they say it will. So, unless you have factual evidence/current news stories to back up your "THEORY," I would urge you to stop posting as if you KNOW anything. None of us do. Thanks for letting me ramble and good luck to us all.

Thanks for the bank rumors and your right we will at the least break even.

[Doctor Smith]

The other guy who was on I kinda like. He seems smart and down to earth but you have to admitt he has an agenda to keep the pump going. The guy works for a dinar dealer.

Read more: http://dinarvets.com/forums/index.php?/topic/63180-central-bank-it-is-time-to-re-evaluate-the-currency-commensurate-with-the-price-changes-and-the-wage-in-the-economy/page__st__200#ixzz1KTNmuew7

Which one works for a Dinar Dealer? And what Dinar Dealer?

[AK47]

I will go out on a limb and say...we will wait and see??? Go RV!

[marknet73]

Hey Audi that wasn't me arguing with you earlier. The 100k note is not to reduce money supply at all. It is exclusive from that altogether. I believe it would be to make and facilitate cash/marketplace transactions easier by not having to carry so many smaller notes. It would be the CBI and GOI choosing to not LOP and work with the currency and money supply they have in place now. I believe that if Iraq Lops their is only so much the currency can increase in time. If it becomes equal to the dollar (1:1) by dropping 3 zeros off the currency and the exchange rate then appreciation is limited somewhat. Once their economy takes off like a rocket could it go up to 1 dinar to every $20? Not likely. But... if they work with what they have and work towards reducing the money supply through various means while the economy grows substantially then the sky is the limit. They are only limited by how they choose to reduce that money supply versus the need for investment within country for social and infrastructure. That fits nicely into what you are saying about consumerism. Let the market dictate the exchange rate value. CBI and GOI just need to concentrate on getting the supply down in a responsible way. Just my thoughts on it.

I'm a little late to the discussion but excellent points all the way around my friend. I appreciate all the knowledge you bring to the table on this. Some of the recent news articles about deletion of the zeros are troubling but I think Mr. Ingram has a point in his recent post that this wouldn't be the most feasible ways to accomplish their goals. I'm 110% with you that the best scenario is for them to work with the currency they have and allow it to gradually increase depending on market conditions as well as gradually reduce the amount in circulation. Economics is my weak point but seems to me that more wealth can be created through this avenue than through a straight up lop which would serve the only purpose of decreasing the money supply. Hopefully we'll see (any) increase in value in the coming months. I'd be thrilled with 750 because that would seem to rule out a lop. Thanx again for your insight and hopefully we'll see more pieces of the puzzle fitting together soon.

[Darin]

This seems like a topic that will "Never" die until something happens to the IQD to prove otherwise. But, I wish to bring attention simple #s and use logic/reasoning of speculation to maybe help us see the end-result & than determine if it is feasible or not.

27 Trillion in circulation (Or so reports indicate) Subtract out 3 trillion recently pulled in by the CBI

Now we have 24 Trillion in circulation. If we were to remove the 000s from that figure, we have 24 billion (At a IQD value) USD value would equal 20.64 billion.

Weird, If they were to LOP/RD as some claim, they could basically hand their entire currency over to Kuwait & pay them off for the apparent debt still owed to them.

If I recall from reports (I may be wrong, but I am pretty sure the CBI holds cash-reserves in excess of $50 billion USD)

Weird, they could lop and buy up their currency more than TWICE w/ their entire cash reserves.

Their current budget is quite high, 90 or so billion in USD. The entire amount of currency in circulation does not cover that, they would have to re-circulate the currency more than 8 times to pay off their budget.

Okay, so lets consider how the Old IQD - I've seen it was roughly $200 billion in IQD. So now they have less in value in circulation which an abundance of that currency outside of the country.

Hmmm..... These #s do not add up correctly in my mind. Especially with the idea that the country is expected to be one of the wealthiest in the world..

For the guy who used S. Korea as an example. -- They are an Asian country. Many of those countries have a low-rate due to exporting of goods (See China)...

For other M.E. countries, they do a lot of import of goods (See other Dinars such as Bahrain/Kuwait, etc.)

They hold a large amount of untapped reserves that are unexplored. They hold a high amount of natural gas & crude. Crude is at record levels and they are pushing to reach record bbl/day exportation wise.

The value of the country itself is high. And with 95% of revenue being due to crude, I would assume they have the assets to back up a value of the IQD.

I like the idea of that countries will use the IQD to purchase crude. This in turn backs their currency which can also be in return used to pay for goods/services as they re-build. Also, the CBI will make a lot of revenue based upon the buy/sell of currency. The spread is bank profit, so everytime a transaction occurs, they are making money. (Hence the ideal reason(s) to go international)

We know that the U.S. supposedly claims under 1 trillion in USD circulation, but doesn't a country like China have roughly 3 trillion in cash reserves of USD? Hmmmm.....

I wonder how many other foreign countries hold either USD or IQD in cash reserves..

Just a few things to think about.

[Workinchump]

Darin,

I believe the way you are looking for removing 000 is extremely wrong. Removing 000 would not be 27 tril to 24 tril.

27 tril would become 27 billion.

From my extensive research on this topic, you have a better chance to get:

Current Exchange: 0.00086

RV/RI Exchange: 0.86

Thus 000

or

Current Exchange: $1 usd = 1170 IQD

RV/RI Exchange $1usd = 1.17

[Darin]

Darin,

I believe the way you are looking for removing 000 is extremely wrong. Removing 000 would not be 27 tril to 24 tril.

27 tril would become 27 billion.

From my extensive research on this topic, you have a better chance to get:

Current Exchange: 0.00086

RV/RI Exchange: 0.86

Thus 000

or

Current Exchange: $1 usd = 1170 IQD

RV/RI Exchange $1usd = 1.17

What I was referencing was 27 IQD is in circulation. Reports indicate as of recently the CBI has drawn in roughly 3 Trillion IQD. Therefore leaving about 24 Trillion in circulation.

If they were to LOP of the 3 0s, we would "Than" have a value of 24 Billion (IQD value). If we multiply by $0.86, we find that the USD value is 20 Billion.

This how I found those figures.

I find it hard to fathom the idea that there are individuals in this world with the purchasing power to entirely buy up all available currency within that country. Especially considering how many governments, companies, and individuals would look to invest into that country. Out of all the 24 Trillion in circulation, I would venture to guess a high % is sitting outside the country. This may include being held by foreign governments in cash reserves (one could assume this as the cbi sites has indicative rates for several countries), being held by banks (for exhanging purposes), and also being held by speculative investors.

So, if we assume 20 Billion is the USD value, and the CBI holds roughly 50+ Billion in cash reserves, it seems as if the CBI would be able to not only back that 20B value, but also back it if it were to double or doubler & 1/2 (x1.5) - This is where I see some may find the logic in a LOP than RV. But I also think that I read reports that the CBI would only need to hold 25% in cash-reserves of the entire value. This would put the value at $200 Billion (Same level during old IQD values) which would mean... (Estimating and doing simple division) 200B/24,000B = 0.0083 = Which in reality could easily point to them RV at 1 penny and being able to back the value. (Without the current assets being taken into consideration) Basically, end result is minimum for example $1,000 investment = $10,000 investment. -- Gives the CBI the ability to buy/sell as the value goes up while printing lower denoms and bigger bills still holding value. (Basically a 25k would equal $250, meaning a 10k would equal $100)

Upon a LOP/RV, the ability at which level they could RV up to would indicate a high rate which may scurry investors into purchasing IQD or doing business? Maybe - who knows, I am still learning :0

[hame55]

Having too much money in Iraq when it goes up in value isn't a problem for Iraq. I would think they are pulling in the bills because the IMF demands it. Using electronic credit instead of paper so they don't have to carry huge amounts of bills around as the larger denominations are taken out of the local economy.

Listen to the latest blog Radio on the DD site. The currency experts say it isn't going to lop.

Posted Image

http://gdb.rferl.org…F32_mw270_s.jpg

16.04.2011

Ahmed Al-Zubaidi

Iraqi Central Bank Adviser Dr. Mazhar Mohammed Saleh said the Bank maintained its policy on deleting three zeros from Iraqi dinar currently working.

He said in an interview to radio free Iraq to apply political restructuring Iraqi currency would fix management problems facing the country’s money supply inflation of 28 trillion dinars, the currency structure is no longer commensurate with current prices and costs in Iraq.

The Iraqi Central Bank Adviser to the current situation to start this project, which would strengthen the Iraqi economy, but this project should first obtain the consent of the Iraqi Government, which in turn report to the Iraqi Council of representatives for approval.

The proposed deletion of three zeros from the currency has sparked controversy among economists Iraqis highlight differences including on the possible impact on the economic sector, especially if implemented suddenly and rapidly.

This disagreement has led the Economist as Brahimi previously was for years the Economic Adviser to the Iraqi Central Bank to show fear of execution of the project at present despite the completion of all studies on the economic situation is not conducive to that.

The Central Bank Adviser explained the appearance that these fears Muhammad Saleh, Iraq’s economic situation is good and capable of carrying this project, and this experience has been applied in countries like Turkey that has six zeros from the currency deleted not long ago.

[Doctor Smith]

Posted Image

http://gdb.rferl.org…F32_mw270_s.jpg

16.04.2011

Ahmed Al-Zubaidi

Iraqi Central Bank Adviser Dr. Mazhar Mohammed Saleh said the Bank maintained its policy on deleting three zeros from Iraqi dinar currently working.

He said in an interview to radio free Iraq to apply political restructuring Iraqi currency would fix management problems facing the country’s money supply inflation of 28 trillion dinars, the currency structure is no longer commensurate with current prices and costs in Iraq.

The Iraqi Central Bank Adviser to the current situation to start this project, which would strengthen the Iraqi economy, but this project should first obtain the consent of the Iraqi Government, which in turn report to the Iraqi Council of representatives for approval.

The proposed deletion of three zeros from the currency has sparked controversy among economists Iraqis highlight differences including on the possible impact on the economic sector, especially if implemented suddenly and rapidly.

This disagreement has led the Economist as Brahimi previously was for years the Economic Adviser to the Iraqi Central Bank to show fear of execution of the project at present despite the completion of all studies on the economic situation is not conducive to that.

The Central Bank Adviser explained the appearance that these fears Muhammad Saleh, Iraq’s economic situation is good and capable of carrying this project, and this experience has been applied in countries like Turkey that has six zeros from the currency deleted not long ago.

I don't think they are talking about a lop. Shabbibi stated (in the recent video) that they added the 3 zero's in the past because of inflation. They simply added the larger notes (25,000 etc). They didn't re-denominate. So when they remove the zero's in the future they will do the opposite and get rid of the larger bills, increasing the exchange rate.

[dinarck]

I don't think they are talking about a lop. Shabbibi stated (in the recent video) that they added the 3 zero's in the past because of inflation. They simply added the larger notes (25,000 etc). They didn't re-denominate. So when they remove the zero's in the future they will do the opposite and get rid of the larger bills, increasing the exchange rate.

I think Shabibi said excactly what all the articles are saying including the latest article that is screaming LOP. I mean I think the debate is over on what they are talking about. JMO