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Sonny1 7-24-11 @ 1:10p.m.


pluMmet
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This is why I love DV! I got a well thought out response from a respected, educated member of the site. I appreciate the response speculator.

I have seen the article on the 14 denominations before, but like alot of things coming out of Iraq, you don't know what is the truth and what is not. I am still curious about how long it may take to educate the Iraqi people on the new dinar, the increased purchasing power, etc. Just looking for opinions. How long did it take the citizens to learn about the new IQD back in 2003-04 when the currency got devalued.

It's not like the dinar was artificially devalued in 2003/04. The value of the dinar, according to the UN Operational Rates of Exchange, actually show the value of the dinar increasing significantly the month immediately following Saddam Hussein's removal from power on April 9th, 2003.

Historic Rates

IQD (Iraqi Dinar)

1,100.0 01 Jun 2003

1,170.0 01 May 2003

2,400.0 01 Mar 2003

2,240.0 01 Feb 2003

2,300.0 31 Dec 2002

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The exchange period for the currency exchange in 2003/04 was 3 months, from October 15th, 2003 until January 15th, 2004.

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Hi easy :)

I have no reason to play games with the ignore button. I can read and

make my own conclusions without blocking people or feeling threatened.

Most of the folks who discuss an RD due so because it is history...but to think

they want to be "right" and have this actually be the outcome...do you really believe

anyone wants this?

You do not offend me easy, rumors do, because I know first hand at what many of

them have actually done to a few people that have found themselves in serious

trouble due to years worth of lies that they thought were true. That is why it is offensive,

and those who spread them in my opinion are not helping anyone. Years worth of rumors

is why this is so often considered a "scam". I think you are aware of this. Anything that needs

"hype" to support it should raise a red flag for anyone.

Thank you for your thoughts easy. A little kindness goes a long way my friend.

All my best!

Jim

---

Jim, very well said.

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the HCL determines how they will split their oil and gas revenues....it has nothing to do with an RV....Sonny...can you ask your Dubai contacts how it helps them revalue the currency?

So what exactly does determine when and how Iraq revalues their currency? Or do you consider this to be a complete crap shoot as to when and how this goes down?

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Thanks Bump...I'm actually very computer savvy but my Internet computer is Linux and I can't find a Java 6 build 23 jre package anywhere

blink.gif This techie stuff is all Greek to me, but I am sure glad there are some sharp folks around here who can figure things out. Thanks for the post and heads up pluMmet, great work! GO RV Already Baby!!!cool.gif

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It's not like the dinar was artificially devalued in 2003/04. The value of the dinar, according to the UN Operational Rates of Exchange, actually show the value of the dinar increasing significantly the month immediately following Saddam Hussein's removal from power on April 9th, 2003.

Historic Rates

IQD (Iraqi Dinar)

1,100.0 01 Jun 2003

1,170.0 01 May 2003

2,400.0 01 Mar 2003

2,240.0 01 Feb 2003

2,300.0 31 Dec 2002

Link

The exchange period for the currency exchange in 2003/04 was 3 months, from October 15th, 2003 until January 15th, 2004.

Link

You are correct; I bought my first dinar at 2300 to 1. 2003

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It's not like the dinar was artificially devalued in 2003/04. The value of the dinar, according to the UN Operational Rates of Exchange, actually show the value of the dinar increasing significantly the month immediately following Saddam Hussein's removal from power on April 9th, 2003.

Historic Rates

IQD (Iraqi Dinar)

1,100.0 01 Jun 2003

1,170.0 01 May 2003

2,400.0 01 Mar 2003

2,240.0 01 Feb 2003

2,300.0 31 Dec 2002

Link

The exchange period for the currency exchange in 2003/04 was 3 months, from October 15th, 2003 until January 15th, 2004.

Link

Thanks for the response Hopeful

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When you add up the notes and coins that we know for a fact were printed or minted we are at 10. That only leaves 4 notes and/or coins unaccounted for. There doesn't seem to be anything that states those notes could not have been larger denomination notes. There were articles talking about introducing 100,000 and 50,000 dinar notes. Those could possibly be 2 of the 4 denominations unaccounted for.

Just sayin'...

Actually, we know that they have 25,000k, 10,000k, 5,000k, 1,000k, 500, 250 and 50 notes for a total of 7. The other 7 notes IMO would be 100, 25, 10, 5, 1, 1/2, and 1/4 if we look at past denominations of notes. This would give us 14 denominations of notes. However, we know they currently have 25 and 100 dinar coins that are minted but not in circulation. Would they duplicate the 25 and 100 in both note and coin? There has been no mention of any other coins minted, of course that doesn't mean they don't exist. I just haven't seen any reference to them. One would think there would have to be if the revalue was to be 1:1 or greater. They would have to have coins equivalent to our penny, nickel and dime at least.

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Actually, we know that they have 25,000k, 10,000k, 5,000k, 1,000k, 500, 250 and 50 notes for a total of 7. The other 7 notes IMO would be 100, 25, 10, 5, 1, 1/2, and 1/4 if we look at past denominations of notes. This would give us 14 denominations of notes. However, we know they currently have 25 and 100 dinar coins that are minted but not in circulation. Would they duplicate the 25 and 100 in both note and coin? There has been no mention of any other coins minted, of course that doesn't mean they don't exist. I just haven't seen any reference to them. One would think there would have to be if the revalue was to be 1:1 or greater. They would have to have coins equivalent to our penny, nickel and dime at least.

The quote you put up:

Printing a series of 14 new Iraqi Dinar notes and coins

Since the number seems to indicate that the 14 includes both notes and coins, and there were 7 known notes and 3 known coins (25,50,100), that only leave 4 denominations unaccounted for. The mentions of the 100K and 50K notes in various articles could be interpreted that they already existed and were simply needing approval to be released, which if that were the case would reduce the number of unknowns to 2.

I am not even sure why the CBI still lists the coins on their webpage, considering there was an article around June of last year that stated the CBI sold the entire lot as scrap metal for $250,000.

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The quote you put up:

Printing a series of 14 new Iraqi Dinar notes and coins

Since the number seems to indicate that the 14 includes both notes and coins, and there were 7 known notes and 3 known coins (25,50,100), that only leave 4 denominations unaccounted for. The mentions of the 100K and 50K notes in various articles could be interpreted that they already existed and were simply needing approval to be released, which if that were the case would reduce the number of unknowns to 2.

I am not even sure why the CBI still lists the coins on their webpage, considering there was an article around June of last year that stated the CBI sold the entire lot as scrap metal for $250,000.

I don't believe it does because it says PRINTING 14 denominations of notes and coins. Notes are printed and coins are minted. We know they had these denominations in the past. I also base my opinion on this article

FROM 2010

Re-Denomination Of The Iraqi Dinar

Edit Article | Posted: Aug 05, 2010 |Comments: 0 | Views: 286 | 0Share

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.With the dinar being increased in value, it will be able to vie for supremacy with strong currencies of the world like the US dollars and the British Pound Sterling. The redenomination of the dinar brought about the introduction of various denominations like 25, 10, 5, 1, 1/2, 1/4, and even smaller units of the dinar.This in my opinion will go a long way in improving the economy of the country to a great extent. The availability of these small units of the dinar can be seen as an indication that prices of commodities will be low considerably. It means that there will be some items that will be sold for lower prices compared with what they have ever gone for initially.

According to the Iraqi finance minister, the redenomination is due to the successful fiscal policies that are pursued by the Iraq government. One thing that will help the Iraqi dinar to be strong against the dollar is the recent year drop in the value of the US dollars. The Iraqi dinar can significantly ride on the back of the recession hit in the US to give itself some measure of significance among strong currencies the world over.

The question now is whether the re-denomination of the dinar and the increase in its value will help in making Iraqi's economy to become considerably strong to the extent that it will be able to vie with other strong economies the world over. To prove the fall in value of the US dollars in the Iraqi capital market, the demand for the US dollars had greatly reduced. Local dealers who would rather have traded in the US Dollars seemed to have changed their minds to opt for the Iraqi dinar. This is one of the factors that are responsible for the growth of the Iraqi dinar against the US Dollars.

Though there is the news of the re-denomination, the old currency notes are the ones that still hold sway in the Iraqi market. But the central bank has the intention of removing the old currency notes from circulation by the end of the present year 2010. This was made known by Mudhhir Muhammad Salih, who is an advisory panel committee member. This means that by the beginning of the New Year 2011, the current currency notes would have all been replaced by the new ones.

But while the old and the new are available in Iraq both of them will be legal tender until when the old notes are finally removed from circulation.Read more: http://www.articlesbase.com/sales-articles/re-denomination-of-the-iraqi-dinar-2964841.html#ixzz1JOUhT7XU

Under Creative Commons License: Attribution

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Not sure why Iraqi's talk the way they do. Were lucky to get things in English but unfortunately proper English will never happen from them.

I still think that the 14 denominations refers to what was printed and minted - but it really doesn't matter at the end of the day what they meant... :D

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I agree, I seriously thought it was going to be done this week too.

Things just don't seem to be making any sense at this time.

Just like this article (below) which is talking about oil exports that begin August 1st. Which is one reason I was hopeful for the HCL to be ratified this week.

I hate thinking like a conspiracy theorist......but it really does seem like Iraq should have completed the necessary things to have rv'd by now.

Adam...do you think the US is holding up the rv? The debt ceiling? I personally have my doubts, just curious.

http://news.yahoo.com/iraq-begins-pumping-al-ahdab-oil-pipeline-150428058.html

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