Scarmack Posted May 28, 2011 Report Share Posted May 28, 2011 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 Link to comment Share on other sites More sharing options...
Solarcloud Posted May 28, 2011 Report Share Posted May 28, 2011 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! Link to comment Share on other sites More sharing options...
zaborniake Posted May 28, 2011 Report Share Posted May 28, 2011 Iraqi currency has been pegged to the sterling pound in the past. http://www.dinartrade.com/iraqmonetaryhistory.htm Link to comment Share on other sites More sharing options...
Scarmack Posted May 28, 2011 Author Report Share Posted May 28, 2011 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 Link to comment Share on other sites More sharing options...
blonde_minx Posted May 28, 2011 Report Share Posted May 28, 2011 (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 May 28, 2011 by blonde_minx 1 Link to comment Share on other sites More sharing options...
Star Ship Posted May 28, 2011 Report Share Posted May 28, 2011 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. 1 Link to comment Share on other sites More sharing options...
Solarcloud Posted May 28, 2011 Report Share Posted May 28, 2011 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. I don't, the dollar IS on its way down while the dinar hopefully will go up. Link to comment Share on other sites More sharing options...
juan martinez Posted May 28, 2011 Report Share Posted May 28, 2011 Sound as a Pound...Yeah Baby... Go RV Link to comment Share on other sites More sharing options...
Mountain man Posted May 28, 2011 Report Share Posted May 28, 2011 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. 1 Link to comment Share on other sites More sharing options...
juan martinez Posted May 28, 2011 Report Share Posted May 28, 2011 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. 3 Link to comment Share on other sites More sharing options...
DOUBLE B 65 Posted May 28, 2011 Report Share Posted May 28, 2011 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" Link to comment Share on other sites More sharing options...
sheik Posted May 29, 2011 Report Share Posted May 29, 2011 IQD tied to the British pound.???? I think not. That one makes my head spin. Link to comment Share on other sites More sharing options...
Munsch Posted May 29, 2011 Report Share Posted May 29, 2011 It is suppose to RV after Monday. There are many MANY days after Monday ... I wonder which one it could be? Link to comment Share on other sites More sharing options...
Rossenbos Posted May 29, 2011 Report Share Posted May 29, 2011 Listen guys, I can't tell you who told me this but I do know the RV will be after today! Don't tell anyone ok? 1 1 Link to comment Share on other sites More sharing options...
TQueezy Posted May 29, 2011 Report Share Posted May 29, 2011 4.10 to 5.17 GBP: 1 IQD = $6.56 to $8.27 USD: 1 IQD ? Yeah? No? Link to comment Share on other sites More sharing options...
Bobbysac Posted May 29, 2011 Report Share Posted May 29, 2011 i herd of that being the BP ,but who knows anymore ,my head hurts Link to comment Share on other sites More sharing options...
Doc31 Posted May 29, 2011 Report Share Posted May 29, 2011 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 3 Link to comment Share on other sites More sharing options...
Quattro 8 Posted May 29, 2011 Report Share Posted May 29, 2011 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 & how many barrels there are in & above ground then maybe we can work the math better. Link to comment Share on other sites More sharing options...
Luigi1 Posted May 29, 2011 Report Share Posted May 29, 2011 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 & 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. 1 Link to comment Share on other sites More sharing options...
Nothing-Ventured Posted May 29, 2011 Report Share Posted May 29, 2011 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 Link to comment Share on other sites More sharing options...
Caye98 Posted May 29, 2011 Report Share Posted May 29, 2011 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. Link to comment Share on other sites More sharing options...
Quattro 8 Posted May 29, 2011 Report Share Posted May 29, 2011 but why not peg it to oil, after all the $, £ etc is backed by nothing at all just "full faith & credit " ie confidence . Hence the "confidence" is running away from these currencies ... so why not peg it to oil? Link to comment Share on other sites More sharing options...
TBB Posted May 29, 2011 Report Share Posted May 29, 2011 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 Link to comment Share on other sites More sharing options...
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