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Source- IQD RV tied to British Pound

Scarmack

By Scarmack,
in Dinar Rumors

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Scarmack Newbie

Scarmack

Posted
Posted

This is only a rumor. My brother has a contact who says that the dinar will be converted to the British pound which in USD will be aroung $1.60. It is suppose to RV after Monday. Has anyone heard this rumor or anything that might back up my brothers contact info?

Thanks,

Steve

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Solarcloud Newbie

Solarcloud

Posted
Posted

This is only a rumor. My brother has a contact who says that the dinar will be converted to the British pound which in USD will be aroung $1.60. It is suppose to RV after Monday. Has anyone heard this rumor or anything that might back up my brothers contact info?

Thanks,

Steve

Question, where or how did your brother hear this? Sounds interesting and different than any other rumor iv heard.

Thanks for post!

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Scarmack Newbie

Scarmack

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My brothers contact is suppose to be with the treasury dept in some capacity. I have no way of knowing, just what my brother was being told. Like all the other rumors out there, time will tell. I just hope his contact isn't okie. lol

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blonde_minx Newbie

blonde_minx

Posted
Posted (edited)

Hi, Ive also heard it will be pegged to the pound though i cant remember where i read this , i havent heard or read any solid proof that it will RV this week coming, lets keep our fingers and every thing else crossed that it does ;)

Edited by blonde_minx
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Star Ship Newbie

Star Ship

Posted
Posted

This is only a rumor. My brother has a contact who says that the dinar will be converted to the British pound which in USD will be aroung $1.60. It is suppose to RV after Monday. Has anyone heard this rumor or anything that might back up my brothers contact info?

Thanks,

Steve

In my humble opinion, since the U.S. Dollar is still the World Reserve Currency I think the Rv will be pegged to the dollar, not the BPS. Just my opinion.

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Mountain man Newbie

Mountain man

Posted
Posted

Why does everyone make this such a huge deal.

It is a numbers game regardless of iwhat it is pegged to. Iraq will have already decided what they need their dinar to be revalued at and once that is determined then it doesn't matter if it is pegged to the British pound or the USD. It will all be the same and yes I know that the pound has a greater value than the USD. The true value is what the Iraqi dinar has been approved for THEN it is a matter of exchanging to any other currency.

Just get the RV done.

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juan martinez Newbie

juan martinez

Posted
Posted

Why does everyone make this such a huge deal.

It is a numbers game regardless of iwhat it is pegged to. Iraq will have already decided what they need their dinar to be revalued at and once that is determined then it doesn't matter if it is pegged to the British pound or the USD. It will all be the same and yes I know that the pound has a greater value than the USD. The true value is what the Iraqi dinar has been approved for THEN it is a matter of exchanging to any other currency.

Just get the RV done.

It's not that everyone is making a huge deal of this; it is that people are feeling that this ride is almost over and any revalue rate above .01 is win for everyone, including the Iraqi's. So cheer up and thank a U.S military member for their service and for making this the best place on earth to live. Go RV and happy Memorial Day.

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DOUBLE B 65 Newbie

DOUBLE B 65

Posted
Posted

This is only a rumor. My brother has a contact who says that the dinar will be converted to the British pound which in USD will be aroung $1.60. It is suppose to RV after Monday. Has anyone heard this rumor or anything that might back up my brothers contact info?

Thanks,

Steve

Yes, for quite some time, Breitling has been talking about it. To me, I personally do not understand why he thinks this, but

$1.60 would be JUST FINE with me. Just let em "ger er done"

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Doc31 Newbie

Doc31

Posted
Posted

Just to clarify a point ... the IQD isn't going to be "pegged" to anything!

Pegged is the idea that as one currency slides or climbs ... the other is obligated to do the same/is dragged along ... see my point? So in your example ... pegged to the GBP would mean that if the GBP dived the IQD would as well ... I know ... certainly not in this case.

A rate being "quoted" vs. another currency ... maybe ... the Reserve Currency on the planet is USD (at least for now) so quoting vs USD would be the norm ... but it could be quoted in Indonesian Rupia if someone wanted to.

Just sit tight and let this play out ... there isn't a thing you can do about it anyway!

Peace

Doc31

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Quattro 8 Newbie

Quattro 8

Posted
Posted

I heard it would be oil backed. If so one way to value ( as opposed to price it) is to take all the oil above and below ground, and divide that into all the IQD that are out there, then you would get a value per barrel of oil, from that you could have a "price" based on conversion to other currencies . So for example using these completely MADE UP figures, say there is 100 million barrels of oil and 5,000 million IQD in existence therefore 1 barrel of oil would = 50 IQD AND (asuming 1 barrel also = $100USD) then 50 IQD = $100 , therefore 1 IQD = $2. i just used these numbers as an example,, if we were to know a) how many IQD are in existence & B) how many barrels there are in & above ground then maybe we can work the math better.

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Luigi1 Grand Master

Luigi1

Posted
Posted

I heard it would be oil backed. If so one way to value ( as opposed to price it) is to take all the oil above and below ground, and divide that into all the IQD that are out there, then you would get a value per barrel of oil, from that you could have a "price" based on conversion to other currencies . So for example using these completely MADE UP figures, say there is 100 million barrels of oil and 5,000 million IQD in existence therefore 1 barrel of oil would = 50 IQD AND (asuming 1 barrel also = $100USD) then 50 IQD = $100 , therefore 1 IQD = $2. i just used these numbers as an example,, if we were to know a) how many IQD are in existence & B) how many barrels there are in & above ground then maybe we can work the math better.

There was a report last week, the Iraq anual budget would be tied into the cost of a barrel of oil at US $75 benchmark. This hasn't a thing to do with the RV. More than likely the ID will float against the Dollar after RV.

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Nothing-Ventured Newbie

Nothing-Ventured

Posted
Posted

Just to clarify a point ... the IQD isn't going to be "pegged" to anything!

Pegged is the idea that as one currency slides or climbs ... the other is obligated to do the same/is dragged along ... see my point? So in your example ... pegged to the GBP would mean that if the GBP dived the IQD would as well ... I know ... certainly not in this case.

A rate being "quoted" vs. another currency ... maybe ... the Reserve Currency on the planet is USD (at least for now) so quoting vs USD would be the norm ... but it could be quoted in Indonesian Rupia if someone wanted to.

Just sit tight and let this play out ... there isn't a thing you can do about it anyway!

Peace

Doc31

Thanks Doc..it’s always a pleasure to read your responses!

Yesterday I found an article written in March of 2003 entitled, “Should Iraq Dollarize, Adopt a Currency Board or Let its Currency Float?” and from your response, it makes good sense.

Iraq’s currency is now sovereign, and it will be to their benefit to keep it that way, if I understood the article correctly.

Link to article: http://www.cfr.org/economics/should-iraq-dollarize-adopt-currency-board-let-its-currency-float/p5994

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Caye98 Enthusiast

Caye98

Posted
Posted

Just to clarify a point ... the IQD isn't going to be "pegged" to anything!

Pegged is the idea that as one currency slides or climbs ... the other is obligated to do the same/is dragged along ... see my point? So in your example ... pegged to the GBP would mean that if the GBP dived the IQD would as well ... I know ... certainly not in this case.

A rate being "quoted" vs. another currency ... maybe ... the Reserve Currency on the planet is USD (at least for now) so quoting vs USD would be the norm ... but it could be quoted in Indonesian Rupia if someone wanted to.

Just sit tight and let this play out ... there isn't a thing you can do about it anyway!

Peace

Doc31

Nicely done Doc.

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TBB Newbie

TBB

Posted
Posted

I agree with Juan, just look at that pic, dont he look like someone who knows what he is talking about...LOL....no really who cares what its pegged to, just get bit done, its going to be worth what they have decided its worth and not a cent more......GO RV

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