Currency Overhaul, Redenomination. A must read!

[buffalowade1]

Here is a link that I found That talks about the Iraqi currency and what I think every Dinar investor should read. This scares the heck out of me. I would like Mods or someone more qualified to read this and give me their take on this. This is an eye opener to say the least. Man I hope Brian's statements are wrong in the comment section. http://www.rferl.org/content/iraq_said_planning_currency_overhaul_redenomination/24245867.html

Edited July 2, 2011 by buffalowade1

[FrankenSLI]

This was all over the page last week. Kinda old news. Everyone had a different take on how this would be done... Good read though.

[CAPT JACK]

Interesting info, we will just have to be patient and see.

[buffalowade1]

Sorry about that. Did not know it had been posted previously. Still very concerning though. I've held my dinars for over 6 years and this is the first time I felt the need to sell them.

Edited July 2, 2011 by buffalowade1

[MovieMaker]

Yep. . .7 years later, still waiting to see. Getting closer to the truth, the real deal finally. What ever it is.

[frankc]

Here is a link that I found That talks about the Iraqi currency and what I think every Dinar investor should read. This scares the heck out of me. I would like Mods or someone more qualified to read this and give me their take on this. This is an eye opener to say the least. Man I hope Brian's statements are wrong in the comment section. http://www.rferl.org...n/24245867.html

I hope Brian is wrong too but looking at all the facts and with 29 Trillion dinar outstanding I suspect Brian is correct. It's going to dissapoint a lot of people who can only view this as making them rich.

[lonestar78613]

Sorry about that. Did not know it had been posted previously. Still very concerning though. I've held my dinars for over 6 years and this is the first time I felt the need to sell them.

Then this article has served its intended purpose.

Edited July 2, 2011 by lonestar78613

[easyrider]

old news. It's all good though.

[bamagirl]

JMO, but DO NOT SELL! I think theres alot of mis info out there right now, it could possibly be to get ppl to start selling off.

[sonny1]

You guys are funny. This Brian Guy knows nothing. All other redonom had multiple currencies and high inflation. He said no other currency has revalued like this. He needs to look at Kuwait and recently astonia who went from lower than Iraq to the eruo and that was this year what gets me is people. Believe dumbasses like okie and all these other idiots And it hasn't happened yet so they negative. I wish idiots would stop all the blog calls and stupidity. And the week--minded should stop listening to these dumbasses. No disrespect. Sorry for grammar I am on my phone

[LA2009]

http://www.youtube.com/watch?v=inkN8Yn2Cak

like it or not? still worth listening to

I think anyway,

Love to the DV family

L

[onerighthand]

I fer one am going for broke!

This is supposed to be speculation money and money you are willing to lose. If you invested more, then you were foolish.

Sell now what you aren't willing to lose and be patient.

No different then holding a possible winning hand at the card table. There are many outcomes possible, but you bet on your hand to win, Wait and see if you won or at least made some money. it could happen!

[buffalowade1]

I fer one am going for broke!

This is supposed to be speculation money and money you are willing to lose. If you invested more, then you were foolish.

Sell now what you aren't willing to lose and be patient.

No different then holding a possible winning hand at the card table. There are many outcomes possible, but you bet on your hand to win, Wait and see if you won or at least made some money. it could happen!

I agree I'll hold them and hope for the best. I have a lot to loose by holding them if this turns out bad, but it was money spent long ago. And this is the only once in a lifetime shot I will likely ever have at becoming a multi-millionaire.

[grand pubah]

lots of people throwing in the towel now discouraged that expected time frames were not realized.

As for me I am a contrarian. When the RV didn't happen by 6-30 as so many expected and declared, I went out and bought more yesterday. I am in all the way on this thing. All my chips are in this hand.

I have researched it and believe so strongly in this thing I am not backing out no matter what anyone else does.

If it takes another year (or even two) then that is just more time to continue to build up my interest in IQD.

Someday all of us who hung in this thing will be sitting under an umbrella, sipping our cool drinks, giving $50 tips to the steward and talking about how brilliant we were to wait this thing out.

GP aint rattled by nothing.

I know this thing will payoff nicely and I will add it to my portfolio as a stellar success.

Hang in there guys!!!

[^theStig]

i wonder if the suicide rate will be going up after this is all brought to a close.

[RV on my mind]

Read the last comments on the artical on fractional banking. Thats how it's going to work and that is why their will be an RV.

[believing]

I was raised on a working farm. Everything we did was a speculation; planting corn, we were speculating that we would not have a dry season, buying steers to raise, we speculated that they would not get into 'stagger" or die from some disease....even raising tobacco was a speculation, (would the blight ruin it, would the price stay up, would there be enough rain, would blue mold hit it..)

In every thing we did you would be correct to say we were speculating on a better return that what we put into it. Most of the time it paid off, so then we had a good Christmas and I had new school clothes. Other times several cows would find the stagger and we would lose them, or the market was down and we barely made the expense back that we had in them. (And my cousins would send me hand me downs for school) No matter.

The one thing that never changed was that the time from the investment, until the time for the return seemed way to long.

Waiting for the harvest has always been difficult. But there is nothing for it but to wait. No amount of growling ever made the corn grow faster. There is a time, and in that time we will prosper somewhat, depending upon the climate of Iraq and the health of the economy.

This is just another speculation, I believe it will pay to hang on. At the same time I believe we should also put another crop in the ground for diversified investments. Precious metal looks good to me. (Gold and silver)

Iraq will have to have internationally traded currency to compete with it's own neighbors soon enough. The people themselves need to be able to buy and sell.

Hang on.

[FrankenSLI]

I feel it this way.. It is real currency worth REAL money... I already spent the cash and now am moving on.... Hang on tight unless you really need the dough, I feel we will all be rewarded someday.

[RealisticLassie]

You guys are funny. This Brian Guy knows nothing. All other redonom had multiple currencies and high inflation. He said no other currency has revalued like this. He needs to look at Kuwait and recently astonia who went from lower than Iraq to the eruo and that was this year what gets me is people. Believe dumbasses like okie and all these other idiots And it hasn't happened yet so they negative. I wish idiots would stop all the blog calls and stupidity. And the week--minded should stop listening to these dumbasses. No disrespect. Sorry for grammar I am on my phone

Actually, Brian had an answer to each and every question that was asked and had factual information to back up his reasoning. He obviously was not a follower of Okie or any other "guru" he is a very intelligent individual who really seems to know his stuff. How can you possibly read this article and still have the guts to say he "knows nothing", what you said was extremely disrespectful, so it's not fair to say "No disrespect". You can't use Kuwait as an example because Iraq and Kuwait's situations were COMPLETELY DIFFERENT. The Estonian kroon was nowhere near in the same shape as Iraq and it only revalued by 0.001%, it's not really comparable either. Since it was pegged to the Euro, it doesn't make any use of the 15% fluctuation band. I don't know much about the Kroon, but if someone has more in depth knowledge about it, I would appreciate it if you could elaborate on it. Not all redenominations have multiple currencies at one time, Venezuela, Romania, and Bulgaria just to name a few. All currencies were redominated to replace their previous currencies. I'm going to do more research on inflation rates for the countries that did redenominate to see if each of them had high inflation rates, just to make sure that part is true. I hope this same thing doesn't happen to Iraq and i'm not saying it will happen because nobody knows the real answer to that, but the way Brian explains it makes more sense than anything else.

Edited July 2, 2011 by RealisticLassie

[MButler]

I have been telling myself for almost 5 years now that it is in my best intrest to keep my dinar in a safe close to home that I had access to whenever I wanted. But lately I have been going through an internal conflict about releasing at least half of my dinar into an Warka account. The thought of puting my investment into a war-torn forgein bank account is a scary thought. On the down side, my dinar would not be FDIC insured in any other country. And a bank in a war-torn forgein account could be lost in a "coo de ta" without regard to whos money was in the system. On the plus side, if I put the dinars into a Warka account it would earn intrest which it is not doing in my safe. Also, if Iraq were to change their currency, I wouldn't have to worry about wether or not my 25,000 dinar notes would still be valid. I am on the fence with which senerio is best, but reading articals like this point to using both my safe and a Warka account.

[frankc]

Read the last comments on the artical on fractional banking. Thats how it's going to work and that is why their will be an RV.

The guy manufacturing all those numbers on fractional banking is a complete imbicle. Totally impossible. There isn't that much money in the entire world to do what he describes. Folks, don't be misled by guys like that laying out ridiculous fantasies. Stay grounded. Let's hope we make something on this.

[keepmwlknfny]

Read the last comments on the artical on fractional banking. Thats how it's going to work and that is why their will be an RV.

Fractional banking wont even cover a significant RV right now with such a huge money supply.....

[andy3978]

You guys are funny. This Brian Guy knows nothing. All other redonom had multiple currencies and high inflation. He said no other currency has revalued like this. He needs to look at Kuwait and recently astonia who went from lower than Iraq to the eruo and that was this year what gets me is people. Believe dumbasses like okie and all these other idiots And it hasn't happened yet so they negative. I wish idiots would stop all the blog calls and stupidity. And the week--minded should stop listening to these dumbasses. No disrespect. Sorry for grammar I am on my phone

Wasn't it about 3 weeks ago you swore up and down that the IQD would RV within 3 weeks. So, how did that work out for ya?

[RV on my mind]

Lets look at fractional banking this way. Bill Gates has a 50 bln dollar bal. in his checking account. It's just a balance! He never has and never will have 50 bln cash on him, right? If you look at the net worth of all the people in the US that have a net worth, it is trillions of dollars more than all the the printed money in the world. Thats how it works in a nut shell. So lets say I have a 10 million dollar balance in my account(s) I don't and never will require to carry all that cash around. You see.... It's just a number. GO RV!

[keepmwlknfny]

Lets look at fractional banking this way. Bill Gates has a 50 bln dollar bal. in his checking account. It's just a balance! He never has and never will have 50 bln cash on him, right? If you look at the net worth of all the people in the US that have a net worth, it is trillions of dollars more than all the the printed money in the world. Thats how it works in a nut shell. So lets say I have a 10 million dollar balance in my account(s) I don't and never will require to carry all that cash around. You see.... It's just a number. GO RV!

Its a little more detailed then that......I believe here they can lend out 10 for every 1 dollar they have.....and in another sense for every 10 printed they only need to back up 1 of those.....

Now lets move to Iraq...... they have 50 billion (confirmed) in reserves....which backs up the currency 100% right now......lets say for instance Iraq RVs at 1 dollar (just to keep it simple) that means they will need almost 6 trillion in reserves to back that value with a money supply of 59 trillion dinar.....

50 billion is a far cry from 6 trillion thats needed.......see where Im going with this?