When the Dinar was over $3.00

[Iraqi Queen]

While I was in prayer today, the Lord reminded me of something that struck me like lightening.

A very long time ago while I was Iraq, our USD was almost useless in Iraq while the old IQD with Saddam's face on it was worth more than $3.00. Everyone that I knew worked, ate and lived well as far as finances were concerned. At that time if someone had told us that the IQD would be worth 1/10th of a penny, we would have thought they were crazy, were smoking something, very ignorant, etc. etc. In other words, everything that everyone has been called on this site when we think our IQD will one day soon go up in value again.

So, my question to all of the negative people on this site is this: IF THE IQD DEVALUED WITH A BLINK OF THE EYE, WHAT MAKES YOU THINK IT CANNOT REVALUE WITH A BLINK OF THE EYE?

Never, ever underestimate people's power to change things for the better or for the worse! It is time for Iraq to have their money back to where it used to be, and that my friends is not rumor!!

[coyote]

Thank you, plus one from me

[Anon Ymous]

While I was in prayer today, the Lord reminded me of something that struck me like lightening.

A very long time ago while I was Iraq, our USD was almost useless in Iraq while the old IQD with Saddam's face on it was worth more than $3.00. Everyone that I knew worked, ate and lived well as far as finances were concerned. At that time if someone had told us that the IQD would be worth 1/10th of a penny, we would have thought they were crazy, were smoking something, very ignorant, etc. etc. In other words, everything that everyone has been called on this site when we think our IQD will one day soon go up in value again.

So, my question to all of the negative people on this site is this: IF THE IQD DEVALUED WITH A BLINK OF THE EYE, WHAT MAKES YOU THINK IT CANNOT REVALUE WITH A BLINK OF THE EYE?

Never, ever underestimate people's power to change things for the better or for the worse! It is time for Iraq to have their money back to where it used to be, and that my friends is not rumor!!

That has been something I've thought of many times. People forget how it went from well valued to garbage in an instant, and that makes me believe it could also return in the same fashion.

For all of our sakes, as well as the Iraqi citizens, lets hope so. GO RV!!!

[DRV1804]

Love it!!! Absolute +1

[skepticaldinar]

While I was in prayer today, the Lord reminded me of something that struck me like lightening.

A very long time ago while I was Iraq, our USD was almost useless in Iraq while the old IQD with Saddam's face on it was worth more than $3.00. Everyone that I knew worked, ate and lived well as far as finances were concerned. At that time if someone had told us that the IQD would be worth 1/10th of a penny, we would have thought they were crazy, were smoking something, very ignorant, etc. etc. In other words, everything that everyone has been called on this site when we think our IQD will one day soon go up in value again.

So, my question to all of the negative people on this site is this: IF THE IQD DEVALUED WITH A BLINK OF THE EYE, WHAT MAKES YOU THINK IT CANNOT REVALUE WITH A BLINK OF THE EYE?

Never, ever underestimate people's power to change things for the better or for the worse! It is time for Iraq to have their money back to where it used to be, and that my friends is not rumor!!

I think that one of the reasons may be that the currency in circulation also shot up 1,000 times greater than it was back then and the FX reserves to back the money are slightly less than they were then as well.The more there is of something in existence,the less it's worth so to speak.

Edited May 14, 2011 by skepticaldinar

[Psych]

I don't know if it will rv at 15 cents or 15 dollars, but I believe Iraq has the potential to tap into tons and tons of oil that Saddam never had access to...all things being equal. That alone should give us hope that Iraqs currency will and should be significantly higher in value...when is the zillion dollar question.

[skepticaldinar]

That has been something I've thought of many times. People forget how it went from well valued to garbage in an instant, and that makes me believe it could also return in the same fashion.

For all of our sakes, as well as the Iraqi citizens, lets hope so. GO RV!!!

It did not happen overnight. The dictator killed the countries riches through years of waging war and blowing the reserves.He then kept declairing that it was still worth $3-1 even though this value was no longer recognized.Very sad how Saddam's greed crushed a country that was once so wealthy.

[Brisco]

What goes Up must Go down and Vicea Versa.

http://www.edinarfinancial.net/

Iraqi Dinar News and why buy Iraqi Dinar

Presidential Order 13303: Allows US Citizens to buy and invest in the New Iraq and Iraqi dinar . Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen.

[DaveH]

Thank you for making that point Iraqi Queen. Thanks for the post.

[HopefulTxn]

While I was in prayer today, the Lord reminded me of something that struck me like lightening.

A very long time ago while I was Iraq, our USD was almost useless in Iraq while the old IQD with Saddam's face on it was worth more than $3.00. Everyone that I knew worked, ate and lived well as far as finances were concerned. At that time if someone had told us that the IQD would be worth 1/10th of a penny, we would have thought they were crazy, were smoking something, very ignorant, etc. etc. In other words, everything that everyone has been called on this site when we think our IQD will one day soon go up in value again.

So, my question to all of the negative people on this site is this: IF THE IQD DEVALUED WITH A BLINK OF THE EYE, WHAT MAKES YOU THINK IT CANNOT REVALUE WITH A BLINK OF THE EYE?

Never, ever underestimate people's power to change things for the better or for the worse! It is time for Iraq to have their money back to where it used to be, and that my friends is not rumor!!

The problem with your theory is that the IQD did not lose its value overnight... It was a slow process that started in the 80's during Iraq's war with Iran... Then the loss in their currency's value was accelerated by the sanctions imposed by the UN for Iraq's actions against Kuwait...

I think that one of the reasons may be that the currency in circulation also shot up 1,000 times greater than it was back then and the FX reserves to back the money are slightly less than they were then as well.The more there is of something in existence,the less it's worth so to speak.

Thank you... When the market is flooded with anything (stocks, money, memorabilia, etc) the value of the item is far less than it would be if there was much fewer of them... There is 1,000 times more currency (physical and digital) and most people don't want to accept that those numbers make a huge difference in its value...

[dog53]

Yeah I like it. +1 Iraqi Queen good JUJU

[coldwarvet]

Good post, Iraqi Queen. A good reminder that a lot more will go into the RV than just the balance sheet.

[Darin]

We can complain about the difference in #s all we want.

There are other things we need to CONSIDER to use in favor as well

For example

The current price of crude (What it is now, what it was than....)

The potential to tap and get more oil/crude (The figures being thrown around is we've only explored 20%)

Time value of $ ($1 bough more than in comparison to now.. USD has lost value as well)

Circulation: We don't know the "True" #s as those particular #s may be confidential. We can only speculate & believe what they tell us.

And / if / or any other plan is set....

The value should rise over time, but upon release of all sanctions, movement from Article XIV to VIII and release of other protected (and or seized) funds that may help impact the value.

As foreign investors pour in their money to help re-build, they will take that into consideration as well.

Too many factors and even the best of the best in economics can not all agree.... The GOI & CBI will do what they feel is best.... We just hope for returns.

And for a country trying to persuade others to invest, why burn potential holders who "may" be holding dinar, right? Just a thought.

So, if the foreign reserves can increase significantly in value, they have 2 choices A) adjust the exchange rate accordingly so or increase the money supply

Well we already think they have enough in circulation (but that may not prevent them from a LOP)

But, increasing the money supply could risk inflation and reduce the policy rate.

So many things to factor in, that we may never be able to predict the outcomes.

All we can do is sit and wait for the value to be in our favor & cash-out.

[Texhad]

I bought low and sincerely hope to sell high.

Go RV!

Blessings,

Texhad

[Kanga]

What goes Up must Go down and Vicea Versa.

The above is true of many many things ... the ONE thing it does not apply to is SUBMARINES

Sorry, I am an old Navy Nuc

Edited May 15, 2011 by Kanga

[hame55]

The problem with your theory is that the IQD did not lose its value overnight... It was a slow process that started in the 80's during Iraq's war with Iran... Then the loss in their currency's value was accelerated by the sanctions imposed by the UN for Iraq's actions against Kuwait...

Thank you... When the market is flooded with anything (stocks, money, memorabilia, etc) the value of the item is far less than it would be if there was much fewer of them... There is 1,000 times more currency (physical and digital) and most people don't want to accept that those numbers make a huge difference in its value...

This is FIAT currency. It was made by fiat - that is by direct, arbitrary order of the government. (arbitrary means with no apparent logic, backing or surety.) They can do it because they are the government. They must only determine if the rate will be accepted by the intl. market. Yes, there is more currency, tho not sure about 1000 times, and yet they can do it without all the logical blanks filled in...that's why they call it "fiat". It's the best big business of all, a kind of legal mafia.

[skepticaldinar]

Instead of living in "fairy tale land"....why not use a tool called a calculator and do some simple math.....

When the OLD Iraqi Dinar was FALSELY valued by SADAM at $3.whatever.....how much was in circulation???? I can't quote the amount but I can assure you it was NOT the trillions and TRILLIONS.....WITH A "T" that is in circulation now...

I will NEVER UNDERSTAND how people can just ignore the money supply issue regarding this matter...it boggles the mind....

Fully agree Slade. There is an unphathomable difference between the 20-25 BILLION that was in circulation then and the 24-27 TRILLION in circulation now.Now one can argue, just for the sake of doing so,that there is no longer 27 trillion in circulation.But how much could have possibly been taken out of circulation and was it destroyed and removed from the monetary base? One can not refuse to look at the money supply when determining an exchange rate.In basic economics,if the supply of a country's currency is increased,it will take more of that currency to purchase a different currency than it would have before.Simply stated, if the supply of an item is increased,without any other change,the price of that item will decrease.

[MrRich]

Slade and skepticaldinar are right. From Iraq's invasion of Kuwait until the overthrow of Saddam followed by the introduction of the new IQD was more than 12 years. I don't think it will take that long to return to its previous value but I'm pretty sure it's not even going to be close to that any time soon. They will need time to reduce the money supply, adapt to an electronic currency system, and stabilize the country so that they can start producing what they're capable of. Not being negative, just honest.

Edited May 15, 2011 by MrRich

[yaguking]

Slade and skepticaldinar are right. From Iraq's invasion of Kuwait until the overthrow of Saddam followed by the introduction of the new IQD was more than 12 years. I don't think it will take that long to return to its previous value but I'm pretty sure it's not even going to be close to that any time soon. They will need time to reduce the money supply, adapt to an electronic currency system, and stabilize the country so that they can start producing what they're capable of. Not being negative, just honest.

I have been on this rollercoster ride for over 7 yrs. like honesty, i'll just throw some more on for thought. We're talking about Irac GOI, they have held up the RV this long, they dont care about anything except how they can keep the power and wealth for themselves. Dont get me wrong I would like a great payout as well. Human nature says they will give us the shaft if they can. If u have read Adams book remember what he observed. He stated two real items that could cause curves in the road: First, the margin that could very instrumental, with a very large gap between RV rate that CBI breaks and what they will give to cash in and second is there going to be a time frame set for cash in. If the time is set for example: one month, you will take what they offer and run. The Guru's dont tell u these posibilities but they could be a reality. We all need to set back, relax and wait till the long awaited gift is opened. hopefully soon. Go RVVVVV