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300,000 iqd's


Warmav
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There are so many posts but no one seems to answer the real question. If there is a revaluation like 1:1, a lot of adjustment needs to be done within Iraq. Like salary structure, pricing mechanism, government fee structure etc., to name a few. Unfortunately, none of the high RV predictors put forward any solution to deal with such an alarming situation. Furthermore, most of the posters are not even thinking in basic economic sense. I fail to understand as to what sense people predict a big RV. If it is for fun...i can understand...........

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Whether it is high or low RV or RI, it is not our concern for how they would readjust their pricings of goods and services and so on because the readjustments are necessary in Iraq to balance with the foreign importing and exporting industries that deal with them directly and they may try to readjust their pricings of goods and services to be on a par with all their wealthy neighbouring nations in the ME and definitely not with China region or Cambodia region. If it is a meat bun which costs 100 IQD each today and an RV 1 to 1 tomorrow, they would have prepared in advance to the public all the future prices of goods and services once an RV occurs what may be tomorrow's price for the same meat bun whcih can cost 5 IQD leaving more money for their future dreams and hopes, perhaps.

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Do not think for one moment that our politicians and government workers don't make close to and including that amount. There is a huge difference between the haves and have nots here, as well - since when did they (soon to be us) really care about the have nots? I doubt there will be that many millionaires over there because from what they say, the poor people barely have 25,000 iqd to begin with. That will not make millionaires. Really don't consider that to be a valid reason to lop zeros. Not saying it won't happen, but that's not likely a reason. IMO

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In history of currency world, had there ever been any kind of RV of such a high magnitude like we speculate for IQD. Let us not compare Kuwaiti Dinar please.....it was completely in a different situation. a) KD was reinstated within 7 months. B) The highest denom of KD was only 20 Dinars. I know everyone here likes only encouraging news. But why dont we think in a more logical and economic sense ? Which country in history has had revaluation of 100 or 1000 times worth in history of currency ? There is no magic in economics...it works based on factual maths. Hope some will give me a proper answer. Just like you all, I too is in this bus...

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this is what Govt people will make a year. Now if it RV's they will make 300,000 us dollars. they have to lop and rv. 1 zero then 1 for 1. they cannot make everyone in iraq a millionaire. Espescially if they have such a poor population there will be a huge disparity between the have and have nots... and we know what that brings...... boooom!:confused:

One thing that your not taking into acount for,is the dollar is on it's way out. I think the dinar RV could be the death blow for the dollar. Nobody in their right mind is going to exchange something that is going up(dinar) for something that is going down in value(dollar) I hope you can see this warm. You might want to exchange your dinars, when they RV for some other currency's that has a future.

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If IQD is lopped without a good RV success, the Iraqis living below poverty line would be worse off than from right now. At least, they may have a piece of bread to eat everday now but when it is lopped they may have to eat the same piece of bread once per week or not at all. Am I right?

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If IQD is lopped without a good RV success, the Iraqis living below poverty line would be worse off than from right now. At least, they may have a piece of bread to eat everday now but when it is lopped they may have to eat the same piece of bread once per week or not at all. Am I right?

I don't think that will happen. The dinar IMO will be the reserve currency or in a basket of currency's that will make up the reserve or a united middle east GCC currency in a basket for reserve. Anyway Iraqi people have something to look forward to.

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From what I read yesterday, and I think the link was on this site, some government officials in Iraq don't make 300,000 IQD yearly, it's monthly....30,000 USD Monthly and two simi annual bonuses of over 100,000 each. It said that the total was around $500,000 USD per year. I just can't remember the link. If I find it, I'll post it. It's crazy. As for our politicians in DC, everyone know that they are overpaid....big time, not to mention when they are done, they continue to get paid, how is that for the good ole USofA.

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