Can any1 answer these questions?

[GT5Junkie]

on the contrary read the Iraq CBI site history not a bloggers http://www.cbi.iq/in...php?pid=History

Huh? From your link:

Due to excessive government printing of the new notes issue, the dinar devalued quickly, and in late 1995, US$1 was valued at 3,000 dinars.

historically you don't re-denominate your currency if the rate of inflation goes from 6% to 10% you would re-denominate for inflation in the 100's or 1000's percentile.

What do you think their inflation was when they were printing currency so fast that the dinar became worth 1/3000th of a dollar, in 1995? It sure wasn't 6%. You can't argue that Iraq hasn't experienced massive amounts of inflation. If they hadn't, there wouldn't be trillions of dinar in existence, and their exchange rate wouldn't be 1170 to 1.

[52%sure]

WTF are you talking about...what you just said is totally BS and off the wall!!

read to understand, speak to educate if not be quiet and listen...cause you have not done anyone justice with what you said! read a few of the other posts in this thread there are a few which are nail on the head correct and some are not they are just like yours BS!!

Exactly what I said. That is what has been repeated over and over and thats what the GOI is telling them in Iraq. The current IQD notes wont be worth per dinar what the new notes that have not been released yet. These dinar will coexhist with the new dinar but will only be worth 1,000th of what one new one will be. Anybody can see "the writing on the wall" if they just open their eyes. There seem to be a few on here that understand and beleive what is coming out of Iraq but a bunch you folks are stuck. The rv $2 to $3+ will happen slowly if Iraq can maintain a stable country.

Your so sure ? Give me $1,000 per million for my dinar. I lose a little at that price. The propaganda on the internet is the BS. All those get rich quick pumpers come up with new BS every day.

For a while they were saying that you couldnt buy dinar anymore. BS .Dinar is being sold every day. Why ? because they want the us $ The internet is full of liars and fools who follow them. Your 25,000 dinar notes are worth about $22. The same as the new 25 dinar note will be. Its hard for many to accept so go get you some more coolaid

did you ever think that removing the three zeros ='s .00086 =.86 I'll take 86cents so that 25k note is worth .86x25,000=$21,500.00 Understand the cash in is going to cost you Plus IRS will be watching and waiting

Work them zeros LOL

[imgesing]

Answer...Dont listen to Breitling.

Where did Breitling ever say any of this?

Incredible how someone gets slamed to the ground with out a defense here. I have never heard him say any of this.

He isnt the only source of info but he is generally fairly reasonible and steadfast in his views. AT LEAST THAT IS IMHO.

I seriously wish you would all chill out. BASH the people who give false dates and rates but Breitling never does.

I stand humble in my oppinion and if wrong please correct me.

PEACE and praying for a RV soon...

[52%sure]

right and then when you put the article together with that which came out last week or the week before that states the old and new currency would be valued with the same exchange rate.

historically you don't re-denominate your currency if the rate of inflation goes from 6% to 10% you would re-denominate for inflation in the 100's or 1000's percentile.

Besides their reserves can hold a huge vale much more than Kuwait

Kuwait was a very rich country with a population smaller than Dallas county selling lots and lots of oil. Sadam invaded and was there a very short time before we put him out.Took a year and 8 billion dollars to put the fires out and start to get the wells back into production again. 3 years later folks who invested $20,000 got a return of around $1,000,000.

Now what in this is comparable to Kuwait ? You cant value a countrys currency on what they might produce. People in Iraq are using good old green backs and selling thier oif and dinar for green backs. They are still living in poverty. When the Iraqi people and government are 3 times as well of as americans their currency may become 3 times as valuble.

Id like to trade my magic beans back for a cow.

[Dinariana]

Well here's why, because it is not the truth the truth is what comes from Dr. Shabibi and his plan to restore the value of his currency

watch this video it is March 2011 @ the US Chamber of Commerce- Dr. Shabibi answers all questions and explains his plan rather than listen to someone who thinks they heard the right thing or you came with on your own guessing just like everyone else who hasn't watched this video is doing!

OK, I watched it. A very slow ten minutes, to get a few sentences of info...I do not see anything positive in what he said. He talks of removing the zeros to simplify transactions, obviously referring to the annoyance of dealing with an inflated currency. Nothing about any plan to increase the value.

[BlueOrchid919]

OK, I watched it. A very slow ten minutes, to get a few sentences of info...I do not see anything positive in what he said. He talks of removing the zeros to simplify transactions, obviously referring to the annoyance of dealing with an inflated currency. Nothing about any plan to increase the value.

You're exactly right.

Where did Breitling ever say any of this?

Incredible how someone gets slamed to the ground with out a defense here. I have never heard him say any of this.

He isnt the only source of info but he is generally fairly reasonible and steadfast in his views. AT LEAST THAT IS IMHO.

I seriously wish you would all chill out. BASH the people who give false dates and rates but Breitling never does.

I stand humble in my oppinion and if wrong please correct me.

PEACE and praying for a RV soon...

Breitling has dished out (pumped) his fair share (LOTS) of misinformation, incorrect speculation, and wrong analyses. In many past calls, I have heard with my own ears his claims that dinar banknotes with less than 3 zeros would not be affected, that the removal of 3 zeros meant only those banknotes with them, he has encouraged the purchase of lower denoms, that funds were safer in a Warka account as they would not be affected. He's stated numerous times the GOI was completed, that the HCL was done, that Ch7 was fully released.... I can't even BEGIN to list all the things stated that are simply incorrect.

If you enjoy what B has to offer, no worries. Just understand he is not accurate and you'll be fine.

[Ridewithme38]

I think this thread should be a sticky that all new members should have to read...it kinda puts the idea of a Huge RV away and inserts reality...Thank you guys for this!

[jmw]

He never said anything like that? Strange, I found this on his blog site:

1. I usually let people who have a argument on the currency will some how lop, and lose value, when they are done with the sermon of un-enlightenment, I calmly tell them well if you think they are going to lop the three zeros then just buy the lower denoms with 1-2 zeros, it gets them every time. They just laugh and look at me and ask is it that easy? I tell them yes it is that easy. Every person I have talked to reporters and all who was hell bent on the LOP talk I have talked them into buying Dinar. So if you’re a doubter on the three zeros then just avoid the whole thing and buy the lowers

So since it is something that Breitling has stated, would that make him a liar or not too bright, IYO?

this was such a classic post that I just felt the need to see it posted again!

[dinarck]

You're exactly right.

Breitling has dished out (pumped) his fair share (LOTS) of misinformation, incorrect speculation, and wrong analyses. In many past calls, I have heard with my own ears his claims that dinar banknotes with less than 3 zeros would not be affected, that the removal of 3 zeros meant only those banknotes with them, he has encouraged the purchase of lower denoms, that funds were safer in a Warka account as they would not be affected. He's stated numerous times the GOI was completed, that the HCL was done, that Ch7 was fully released.... I can't even BEGIN to list all the things stated that are simply incorrect.

If you enjoy what B has to offer, no worries. Just understand he is not accurate and you'll be fine.

Thanks Blue. I was about to go on a tirade but you covered it perfectly. Breitling lovers will follow him till the end whether his information is valid or not.

[HopefulTxn]

right and then when you put the article together with that which came out last week or the week before that states the old and new currency would be valued with the same exchange rate.

historically you don't re-denominate your currency if the rate of inflation goes from 6% to 10% you would re-denominate for inflation in the 100's or 1000's percentile.

Besides their reserves can hold a huge vale much more than Kuwait

Redenominations can happen during or after periods of high/hyper inflation. Iraq suffered inflationary problems for decades(LINK) and are now talking about redenominating their currency to remove the effects that period of inflationary problems caused to their monetary system. You should probably read the document called Dropping the Zeros, Gaining Credibility by Lana Mosley, which is available HERE.

If you also read the MANY articles that have been coming out about this for the past few years they also state that a current 25,000 dinar note would have the same value as a new 25 dinar note, that the current 25 trillion dinar in circulation would be reduced to 25 billion, etc. I have seen articles going back to at least 2008 where Shabibi states his intent is to redenominate their currency.

I am not sure what comparison you are attempting to make with regard to Kuwait, whether it be gold, foreign currency, oil, etc. If it's oil, I think you are under the impression that a country can use the oil in the ground to back their currency, and not one shred of evidence has ever been put forward to support that assertion. It's been claimed many times, but again nothing has ever been supplied to support the theory. Which is why I asked previously for a supporting document when you made the assertion that they can use the oil that has been surveyed to back their currency a few posts back.

[MrFnHappy]

There was a bunch of talk about that back when it happened, and many of us have watched it. There was a lot of chatter on the sites regarding the the question the guy asked about a revaluation of the dinar, and Shabibi stated that even if he knew he could not say. People were very happy with that response, and unfortunately it seems many people stopped listening very closely or even at all after that point.

The very next question was from a gentlemen that stated he was an investor in a hotel in Iraq, Baghdad I believe, and his question was directed directly at redenomination. That question is one that Shabibi spoke about at length. He did not state it would not happen, he basically stated that it depends on inflation levels and other economic indicators.

Do you have anything to support your assertion that a country can base the value of their currency on surveyed wells?

The reason I ask is that last year Venezuela determined that they had a lot more oil, then the USGS actually determined that they have more than Saudi Arabia, by up to almost twice as much. You would think that if it only required a survey, which was done by the USGS, that Hugo Chavez would not hesitate to use such a policy change as you state has happened to revalue their currency. Link - Venezuela Oil (BBC)

Funny you mention Chavez. Honestly, I can't remember when I read it (I think 3-4 years ago), but it was Chavez saying oil should have a par value so it could be used as reserves....obviously, this never happened.

Edited August 26, 2011 by MrFnHappy

[keepmwlknfny]

The link I put in it is Dr. Shabibi's recorded Q&A from his visit to the US in March 2011, and the statements I made 1,2,&3 are just how it works based on the terminology. When I was stationed in Turkey the New Turkish Lira was a lot different situation their inflation was like Iran's is 1,000% and going up by the hundreds almost daily so yes they lopped and re-denominated. The difference here is this, Iraq's once internationally traded currency, now exotic currency, was artificially deflated for the prevention of purchasing WMD which is a modern form of attacking a ruler of a country aside from other destructive forceful means. Iraq was given time to get things organized in many factions one of which was the economic state including currency read this document "Freedom of Iraq Project" it explains each and every step they have had to do right down to telling you they will RV just no rate and date. I always provide links Blue, you of anyone should know that, the link on my previous post is Dr. Shabibi who speaks English those both should tell you all you need, the #4 is just a thing I have noticed from The Currency News Hound Articles he posts articles on the Dong, Dinar, Won, Yen, and some other currencies though Dinar is his most posted research article base. He has posted several articles concerning the Central Bank of Iran. I'm a truth seeker like you are we need not be questioning each other we should be supporting each other.

Since 1948 Iraq has had a dinar to dollar value of $2.48 up to $3.22 when it was ARTIFICIALLY deflated in 2003 in order to prevent the late SH from purchasing WMD. so why can't they RV back to where they once was plus 8-20% inflation over 8 years?

lmao, you obviously didn't watch the video on the link I provided in my post, yeah it was Dr. Shabibi telling you that your comment is ignorant!

Oh the video when he speaks about redenominating?? LOL yea Ive seen it.....your doing all this posting and commenting but practically all your info is incorrect and you are showing that you have not been doing your own homework, but yet instead relying on the baseless forum facts that get thrown around.....

Yes we are on the same team but if your misinformed, we as a team will let you know.....since your a truth seeker it shouldnt be hard for you to listen up and get a ear full of reality!

You will get questioned on this forum because this bunch thinks for themselves, and realizes how much BS is really out here in dinarland.....and alot of what you stated is BS....sorry...

[MrFnHappy]

"Since 1948 Iraq has had a dinar to dollar value of $2.48 up to $3.22 when it was ARTIFICIALLY deflated in 2003 in order to prevent the late SH from purchasing WMD. so why can't they RV back to where they once was plus 8-20% inflation over 8 years?"

The dinar was in the $2.85 range in 1979 when Saddam came to power. Not long afterwards, it went to the $3.22 you mention. At the time, this was a legitimate rate. Once Saddam began to wage war with his neighbors, he (Saddam), began to print money without backing to finance his wars.

This action on Saddam's part is why the dinar lost all it's value. Nothing "ARTIFICIAL" here, it wasn't some arbitrary decision by "the powers that be".

[HopefulTxn]

"Since 1948 Iraq has had a dinar to dollar value of $2.48 up to $3.22 when it was ARTIFICIALLY deflated in 2003 in order to prevent the late SH from purchasing WMD. so why can't they RV back to where they once was plus 8-20% inflation over 8 years?"

The dinar was in the $2.85 range in 1979 when Saddam came to power. Not long afterwards, it went to the $3.22 you mention. At the time, this was a legitimate rate. Once Saddam began to wage war with his neighbors, he (Saddam), began to print money without backing to finance his wars.

This action on Saddam's part is why the dinar lost all it's value. Nothing "ARTIFICIAL" here, it wasn't some arbitrary decision by "the powers that be".

Hate to be the thorn, but the value of the dinar was around $2.85 in the late 60's thru very early 70's. When the USD was devalued in 1973 the value of the dinar was increased to around $3.39. Saddam did a 5% devaluation of the dinar in 1982, to the value that most people remember of $3.22.

But you are right, the value of the dinar was not artificially devalued by the CPA, US or anyone else. It lost it's value because of improper economic policies and overspending and printing of currency by Saddam during and after their conflict with Iran. It's actually one of the reasons that Saddam invaded Kuwait. Kuwait refused to write off the billions of dollars that they had loaned to Iraq during that period and it seemed to really irritate Saddam. Add that to the fact they seemed to think they owned the rights to Kuwait anyway, and the US Ambassador to Iraq basically telling Saddam the US didn't have any interest in his affairs with Kuwait, and it was basically an inevitable event.

[MrFnHappy]

Hate to be the thorn, but the value of the dinar was around $2.85 in the late 60's thru very early 70's. When the USD was devalued in 1973 the value of the dinar was increased to around $3.39. Saddam did a 5% devaluation of the dinar in 1982, to the value that most people remember of $3.22.

But you are right, the value of the dinar was not artificially devalued by the CPA, US or anyone else. It lost it's value because of improper economic policies and overspending and printing of currency by Saddam during and after their conflict with Iran. It's actually one of the reasons that Saddam invaded Kuwait. Kuwait refused to write off the billions of dollars that they had loaned to Iraq during that period and it seemed to really irritate Saddam. Add that to the fact they seemed to think they owned the rights to Kuwait anyway, and the US Ambassador to Iraq basically telling Saddam the US didn't have any interest in his affairs with Kuwait, and it was basically an inevitable event.

I stand corrected....got to stop relying solely on memory. But, bottom line, we do agree it was never artificially devalued. Good post.

Edited August 28, 2011 by MrFnHappy

[HopefulTxn]

I stand corrected....got to stop relying solely on memory. But, bottom line, we do agree it was never artificially devalued. Good post.

No worries, and TY.

[Captjohn]

You must be new. Check the extensive archives on this site. Answer; wrong, wrong, and wrong. To do what you are suggesting, IMO, would be tantamount to the Iraqis committing national suicide. Their future depends on being a sovereign nation that is accepted by the world community, with a strong currency, and brought into the community of nations in terms of trade relations. So many world nations (read, U.S. European Community, China, etc.) hold trillions of dinar that for Iraq to essentially pull a "rope a dope" by lopping or otherwise reducing the value of the dinar would make them pariahs in the eyes of the world. The anticipated increase in the dinar (RV) will essentially reflect the value of their vast reserves of oil and gold- in currency terms.

[HopefulTxn]

You must be new. Check the extensive archives on this site. Answer; wrong, wrong, and wrong. To do what you are suggesting, IMO, would be tantamount to the Iraqis committing national suicide. Their future depends on being a sovereign nation that is accepted by the world community, with a strong currency, and brought into the community of nations in terms of trade relations. So many world nations (read, U.S. European Community, China, etc.) hold trillions of dinar that for Iraq to essentially pull a "rope a dope" by lopping or otherwise reducing the value of the dinar would make them pariahs in the eyes of the world. The anticipated increase in the dinar (RV) will essentially reflect the value of their vast reserves of oil and gold- in currency terms.

New? Not at all.

It actually seems you don't comprehend what a redenomination (lop) is if you are saying that it would reduce the value of the currency in any way shape or form. It's a neutral maneuver. There is absolutely no loss of value to the currency. The Iraqi's don't lose a dime. Foreign investors don't lose a dime. The only people that stand to lose in that scenario are those that purchased their dinar through a dealer or bank and ended up paying more for their holdings than the currency was actually worth.

[BlueOrchid919]

New? Not at all.

It actually seems you don't comprehend what a redenomination (lop) is if you are saying that it would reduce the value of the currency in any way shape or form. It's a neutral maneuver. There is absolutely no loss of value to the currency. The Iraqi's don't lose a dime. Foreign investors don't lose a dime. The only people that stand to lose in that scenario are those that purchased their dinar through a dealer or bank and ended up paying more for their holdings than the currency was actually worth.

[SurfingTheDinarWave]

Since you folks who seem to have all the answers on lop and re-denomination; I have a couple questions if you can answer:

If they are going to lop the 3 0's then how do you explain the articles that state they will introduce a 100,000 dinar note?

and explain how my 25,000 note will be worth the same as my 25 dinar coins when they have totally different values right now?

your statements would be that my 25,000 dinar would lop the 3 0's and then have a value of 25 dinar well then what would my 25 dinar coin be worth?

I have been through this situation when in Turkey which is totally different turkey introduced a totally different currency and set exchange values to each one individually. Iraq has stated that both currencies would have the same exchange value so the 1 Dinar and the 1000 Dinar would be equal in value after lop and they are both worth say hypothetical value of $3 equally makes sense how?

1 does not equal 1000 no matter how you try to explain yourself unless they do the same as Turkey and assign 2 values.

Oh and when and where did they say they would assign 2 values one for each currency, prove it with a link please?

[BlueOrchid919]

Since you folks who seem to have all the answers on lop and re-denomination; I have a couple questions if you can answer:

If they are going to lop the 3 0's then how do you explain the articles that state they will introduce a 100,000 dinar note? They will have new currency in the CATEGORIES of 100,000 dinars and 50,000 dinars. A new 50 dinar banknote and a new 100 dinar banknote equivalent to the current 50K and 100K values.

and explain how my 25,000 note will be worth the same as my 25 dinar coins when they have totally different values right now? They won't. All existing currency/coins will be replaced by all new currency/coins valued 1000x higher.

your statements would be that my 25,000 dinar would lop the 3 0's and then have a value of 25 dinar well then what would my 25 dinar coin be worth? 1/4 new dinar.

I have been through this situation when in Turkey which is totally different turkey introduced a totally different currency and set exchange values to each one individually. Iraq has stated that both currencies would have the same exchange value so the 1 Dinar and the 1000 Dinar would be equal in value after lop and they are both worth say hypothetical value of $3 equally makes sense how? Iraq will introduce a totally NEW currency. The old currency and the new currency will be used at the same time until all the old currency is taken in - up to 3 years to get this done. There will be 2 different rates: $0.00086 for the old and $0.86 for the new. An Iraqi will be able to use either the 1000 old or 1 new for the same purchase. Just like Turkey did, which you seem to understand well. Same exact scenario.

1 does not equal 1000 no matter how you try to explain yourself unless they do the same as Turkey and assign 2 values. That is EXACTLY what they have stated they will be doing. Glad to see you've finally got it!

Oh and when and where did they say they would assign 2 values one for each currency, prove it with a link please? Goodness! there are a BUNCH of articles stating that. Even to exact exchange rates. Do some Googling...you'll find them. You can search right here on this board too.

[HopefulTxn]

Since you folks who seem to have all the answers on lop and re-denomination; I have a couple questions if you can answer:

If they are going to lop the 3 0's then how do you explain the articles that state they will introduce a 100,000 dinar note?

and explain how my 25,000 note will be worth the same as my 25 dinar coins when they have totally different values right now?

your statements would be that my 25,000 dinar would lop the 3 0's and then have a value of 25 dinar well then what would my 25 dinar coin be worth?

I have been through this situation when in Turkey which is totally different turkey introduced a totally different currency and set exchange values to each one individually. Iraq has stated that both currencies would have the same exchange value so the 1 Dinar and the 1000 Dinar would be equal in value after lop and they are both worth say hypothetical value of $3 equally makes sense how?

1 does not equal 1000 no matter how you try to explain yourself unless they do the same as Turkey and assign 2 values.

Oh and when and where did they say they would assign 2 values one for each currency, prove it with a link please?

Personally, I could see where a 100,000 dinar note could be issued, or even a 50,000 dinar note.

Why? Because they have not set a date yet for IF they perform a redenomination. If it happens to be further down the line, then they would want a currency note that would closer in value to the US $100 note. A 100,000 dinar note at current value would come close at being valued at around $85.40 or so.

Show where Iraq has stated that both currencies would have the same value. You brought it up so show it. I have seen far too many times where they have stated that a 25,000 dinar note and a new 25 dinar note would have the same value. That a 1,000 dinar note would carry the same value as a new 1 dinar coin, etc.

Saleh, Shabibi, etc. have stated that their goal is to raise the value of their currency to what it once was, but I have yet to see them state that it would be an overnight change, or that they planned to do it with current monetary levels. They have actually stated the direct opposite, stating that the process will reduce the volume from 30 trillion to 30 billion, and you simply cannot get there doing a 1:1 exchange of dinar.

In regards to the proof of 2 values, look at the times they have stated that their intent is to redenominate, which creates a second currency set with a separate value, or the times that they have stated that a 25,000 dinar note and a 25 dinar note will carry the same value. That is accomplished, like every other redenomination, through adding a second currency code that allows for such an event to occur.

[HopefulTxn]

Since you folks who seem to have all the answers on lop and re-denomination; I have a couple questions if you can answer:

If they are going to lop the 3 0's then how do you explain the articles that state they will introduce a 100,000 dinar note?

and explain how my 25,000 note will be worth the same as my 25 dinar coins when they have totally different values right now?

your statements would be that my 25,000 dinar would lop the 3 0's and then have a value of 25 dinar well then what would my 25 dinar coin be worth?

I have been through this situation when in Turkey which is totally different turkey introduced a totally different currency and set exchange values to each one individually. Iraq has stated that both currencies would have the same exchange value so the 1 Dinar and the 1000 Dinar would be equal in value after lop and they are both worth say hypothetical value of $3 equally makes sense how?

1 does not equal 1000 no matter how you try to explain yourself unless they do the same as Turkey and assign 2 values.

Oh and when and where did they say they would assign 2 values one for each currency, prove it with a link please?

Personally, I could see where a 100,000 dinar note could be issued, or even a 50,000 dinar note.

Why? Because they have not set a date yet for IF they perform a redenomination. If it happens to be further down the line, then they would want a currency note that would closer in value to the US $100 note. A 100,000 dinar note at current value would come close at being valued at around $85.40 or so.

Show where Iraq has stated that both currencies would have the same value. You brought it up so show it. I have seen far too many times where they have stated that a 25,000 dinar note and a new 25 dinar note would have the same value. That a 1,000 dinar note would carry the same value as a new 1 dinar coin, etc.

Saleh, Shabibi, etc. have stated that their goal is to raise the value of their currency to what it once was, but I have yet to see them state that it would be an overnight change, or that they planned to do it with current monetary levels. They have actually stated the direct opposite, stating that the process will reduce the volume from 30 trillion to 30 billion, and you simply cannot get there doing a 1:1 exchange of dinar.

In regards to the proof of 2 values, look at the times they have stated that their intent is to redenominate, which creates a second currency set with a separate value, or the times that they have stated that a 25,000 dinar note and a 25 dinar note will carry the same value. That is accomplished, like every other redenomination, through adding a second currency code that allows for such an event to occur.

[ramz5]

Greetings~

I'm a TV news journalist just starting to research a story about the revaluation of Iraqi dinars. I'd love to speak to some people who have already bought dinars to get some insight on how this all works! If you'd be willing to share your story and information on dinars with me please e-mail me at: mramsey@hd.net.

Many thanks.

[Mazzz27]

one question...is the 1000 dollar bill still valid or not?? there ya go