My Interp. of Adams Letter

[Bio-Toner]

Mr. Montana, Good day to you, my friend, I'm sorry for the delay in this letter. Since we last spoke many things have been generated internally in the Central Bank of Iraq, but the final character has not yet been put on the increase in the dinar. Much has been said about redenominating zeros and also taking off, but first must increase the value. Now with this article, which must be seen to this day, and I think that there should be at most in the next week, before this is settled.

Mr. Montana,

How are you doing today, my friend? I apologize for not writing to you sooner. A lot has been going on here internally at the Central Bank of Iraq since our last communication with one another.

I regret to inform you that we have not come to agreement regarding the Iraqi Dinar. We have been hard at work and we do see light at the end of the tunnel. Know that we are getting closer to making a decision that will help benchmark the future. Everyone must remember that we get one shot and one shot only.

There is plenty of news in circulation regarding possible redenomination by dropping the zeros on the Iraqi Dinar. Prior to this redenominating process, it is indicated that the value of the dinar must first be increased. Again, there is still a lot to do. I will not go into details about the redenominating process as you can read about it yourself. At this time I will not agree or deny the articles and the information within.

If all goes as planned with no interruptions, I do think that the process will move to the next step. It is just too early to tell you any more at this time. I should have more for you within the next week.

Yada yada yada some friendly small talk.

Sincerely ,

Mr. Montana

[Traconesu02]

Well! Lets hope and pray for the best -- and they make the right decision for them and us.

I would ask for a swift decision but I do not believe iraq ever makes any swift decisions;

[jo-jack]

Well if they want to even think of getting re-elected they better do something with the RV before the elections, that's my take on it.

[mrref]

Man this whole thing stinks, I hope Adam really trust this dude. This email just doesn't make sense, and I really can't put a finger on it..

[Deacon B]

Good work on interpeting!! You are a craftsman of words..

[sammiePJ]

i agree something doesnt sound right with all this... it seems as if ... its a cat ... playing with a feather... once it gets close the wind blows and the feather is again just out of a paws reach.. now im wondering.. whats really going on.. but like i have always said.. there is always tomorrow.. be safe my dinar family... so in a nut shell we wait and see

[Silverdinar]

well here we go around the mulberry bush, mulberry bush, etc... guess we will know when it happens . No one seems to much but like to pass around the hot potatoe , just release it and let's get on with the show. Draw the line in the sand, raise the curtain, roll the cameras, and above all lets get er' done. already.....

[Charlie Echo]

Prior to this redenominating process, it is indicated that the value of the dinar must first be increased. Again, there is still a lot to do. I will not go into details about the redenominating process as you can read about it yourself. At this time I will not agree or deny the articles and the information within.

.............. You have to revalue the currency to a level that is sustaintable to the market conditions of Iraq. They are still a fragile up and coming economy and the rest of the World is in a nose dive trying to avoid having their bonds dumped by the rest of the world. Portugal, Ireland, Italy, Greece, Spain, Japan, France, Germany, United States are all having a sovereign debt problem. This is no time to RV a foreign currency just because you will make one country financially stable for a month or two. The infrastructure of Iraq needs to be such that it can produce the oil and be a viable market for agriculture, mining, oil and sustain their output to a world that has a demand for it. The current world debt problem will inevitably haunt us in the coming years. As long as the bond market goes along with this, the stock market will not be impacted. When we are forced to face reality of our problem it will be too late and the stronger countries in the EU will somehow take over some of the debt of the weaker countries. A delicate balance will need to be in place before the RV happens. It will need to benefit all involved in the current debt problem, but some of the stronger countries will not be willing to play along. We may all have to turn the monopoly board over and start this game over...

[jerry]

yes but he states clearly that first a re-value must occur prior to the zero lop thing,which i find more incouraging that aNYTHING??

[TexaSwa]

http://dinarvets.com/forums/showthread.php?10176-RV-before-zero-removal-will-not-happen-consider&p=66830&highlight=#post66830

Please stay on subject. They were talking about Adam's letter. You posted extensively on this subject in the above thread, please continue to post in the above mentioned thread.

Edited February 14, 2010 by Mr. Phonics
Getting off the thread subject.

[george001]

The way I see it, if it was for example a 1 to 1 reval, than a 25,000 dinar note = 25,000usd. That is to much money to carry around. So I would go to the bank and deposit it in an account. Now I have a 25,000(dinar/dollar) account from which I withdraw some 5,10,25,50,.....dinars/dollars to use on the street. Everyday cash. My 25,000 note is no more( 000's dropped/ off the street forever,never to be seen again). The same as here. Can you get a $1000usd note today? No, but 10 - 100's is the same amount. The rest is in the bank to be invested or loaned by the banking system. That is my take on it.

[TexaSwa]

The way I see it, if it was for example a 1 to 1 reval, than a 25,000 dinar note = 25,000usd. That is to much money to carry around. So I would go to the bank and deposit it in an account. Now I have a 25,000(dinar/dollar) account from which I withdraw some 5,10,25,50,.....dinars/dollars to use on the street. Everyday cash. My 25,000 note is no more( 000's dropped/ off the street forever,never to be seen again). The same as here. Can you get a $1000usd note today? No, but 10 - 100's is the same amount. The rest is in the bank to be invested or loaned by the banking system. That is my take on it.

Hope it happens that way. However redonomination is , by definition, the way I explained it. Again, im not saying itll happen that way, just that it will be Rv then ReDenom (zero drop).

[bright]

My god what a jerk.......this botters.....sorry you can't boot him off the face of the earth...I may not agree with Adam all the time but I respect his opinions!!! Even on this post it is like ground hog day.....everything all over again.....Adam I wish you had several sources in the middle east that you could verify info and I'm sure you do also......Keep up the hard work....it gives many of us hope!! and for many that is all we have plus we don't have the time or resources to work on this mission as you do!!!........Also Happy Valentine's Day to all the fine ladies on this site!!!!!

[Beehealthy]

We will wait and hope for more word soon.

[allIneedisonemillionusd]

Doesn't sound real to me. The whole "I wont go into the redenom process" sounds fishy, even downright contrived, as if it's directed at people on this board. Seems someone's getting played. An understanding of how it works prevents the acceptance that a reval and "zero removal" could go hand in hand. Heres how it would affect the relationship between the IQD and USD: (I HOPE IM WRONG)

Numbers are approximations:

Today:

25000iqd = $21.36 usd - exchange rate = 1170iqd - $1usd

after 1 for 1 RV:

25000iqd = $25000 usd - exchange rate of = 1iqd - $1usd

after three zero removal (lift, raze, scrape, decimal slide...)

25iqd = $25000 usd - exchange rate = 1iqd - $1000usd

That's right. A 1:1 RV followed by the removal of three zeros would lead to an exchange rate of 1 dinar per $1000usd. Does that seem plausible?

Its RV - OR - zero drop... not both

Again, ADAM, please show me how I'm wrong.

What if the removal of the three zeros means that all the bills that have three zeros no longer exist in circulation(EOY 2010)? All that is left are bills without the three zeros. Using your example, RV happens on Monday at 1 IQD=1 USD. As the months go by Iraqis and people around the world exchange the bills with three zeros for other currency or New IQD and they run concurrently (ex 25,000 IQD = 25 NIQD). At some point all three zero bills are obsolete (EOY 2010). At that point a RV has taken place and so has the removal of three zeros from the currency (they no longer are in circulation). I don't think removal of the zeros will happen overnight and they have said they will run the "new currency" along side the other. They didn't say anything about printing an all new currency system. This makes me think that the removal of the zeros means the value of the IQD will be at a place that makes those large bills obsolete and the need for smaller bills for transactional purposes necessary.

[john1025]

ok, if you remove or lop 3 zero's from the current rate of .00085 =1176 iqd to dollar you will have .85 which equals 1.18 iqd to US Dollar, so if they did take the zero's off the rate your 25000 iqd would equal 21,250 USD. However, every article I've read indicates to me that this is not what they are going to do. It is my understanding that what they will do is take the large notes out of circulation gradually but keep it's current value of 1170 to the dollar. This supposedly will help the Iraqi people in managing the money. It is my opinion they can't afford to rv at .85 or 1:1. if they do RV it will be low, very much lower than most people expect. I don't expect an RV at all in the near future. IMO

[quadraph0nic]

If your having an issue with this investment then you have not made peace with your investment. 4 things can happen...

1 you lose or lose everything

2 you brake even

3 nothing happens

4 you make money

if your not comfortable with any of those possibilities then it sucks to be you. Bottom line, no one really knows and if someone did know they would be smart and not let the whole cat out of the bag so its not traced back to them. That kind of information can get you killed or if it were bad enough maybe it would push everything back. So everyone, chill out and wait. If you can't do that then you may have behavior problem and if we get paid, you may want to stay away from the casino...hehehehe

[spicetrader26]

Way to go! I love it! This is the best thing I have heard in days quadrph0nic. You rock.

[TexaSwa]

Bright

You're looking for hope when you should be looking for reality. I get the feeling there aer quite of few others here like that. I'm not trying to be a jerk to Adam, just asking him to show me where I'm wrong about the scenario I described. Try not to get emotional.

Allineed & others,

Of course a removal of large bills or a removal of zeros on the rate (.87) would be completely different. However a redenomination, by definition, is neither of these.

I hope I'm wrong.

[bright]

Sorry TexasSwa.......My response was directed to "bodders " or whatever his username was.....I see his post was removed. I don't know if you read his post before it was deleted.... but just the language and attacks were uncalled for....

[TexaSwa]

i see, sorry.

[DC1]

It is difficult to understand if he is saying an rv may occur within this next week, or simply "more will be known" within the next week?

My guess is more will be known.

On the other hand, any information that narrows the window for the rv - compared to what we "know" now, would be very welcome.

I want to believe - this next week has some possibilities owing to the UNSC discussion and the timing prior to the election.

This can be only my folly and you do not have to follow.

DC1

[noitall]

all of it sounds good

[Albert Dinarstein]

Very difficult to determine the difference in difficulty with the language and intentional misinformation.