Worst case, do you stay in or Cash out?

[sportfisher]

Ok i know what i'm doing in the event of a RD...But i'm wondering what the average person on this forum will do...

So say the WORST Happens...They announce tomorrow that they have printed new dinars with three less zeros and your 25,000 bills exchange for 25 bills and that they will be running along side the old bills for 6 months before they are canceled...the new ones with an exchange rate of .86 and the old ones with the current rate of .00086

,

What are you going to do?

Are you going to the bank/dealer/exchanger and Get USD and just cash out, not buying the New Dinar

Or are you going to the bank/dealer/exchanger and Selling your Old dinar for US cash then buying New Dinar with that money(Minus spread)

Or are you going to the bank/dealer/exchange and selling your old dinar for US cash then buying MORE new dinar then you received back in cash for your old stuff?

First of all, I don't think you have identified the worst case scenario.

Second, if there was a "redenomination", your bank won't buy them.

I have a question for you,

what would you do if there was a "Redenomination" with an "in Country" only exchange and window?

So the worst would be stuck holding toilet paper, a little scratchy but very nice looking.

but if they do redenominate they can not gain the global confidence that they desire for their currency.

So I say NO RD.....................GO RV !!!!!!!!!!!!!!!!!!!!!!!!

[Ridewithme38]

I have a question for you,

what would you do if there was a "Redenomination" with an "in Country" only exchange and window?

So the worst would be stuck holding toilet paper, a little scratchy but very nice looking.

I kept a very small amount of dinar on hand as sort of a reminder, more of a collectors thing then anything i see as having value ...its less then a million, 20 of each note...But the rest of my dinar is in Warka, FOR ME, the BEST CASE SCENARIO is an in-country only RD followed by a gradual climb as they reassess the reserves vs. how much currency they exchanged....Millions if not Billions will be stuck unexchanged because people outside of Iraq, just won't know what to do with their dinar....Because of this they will end up with ALOT less currency in circulation and will have enough reserves to do a VERY large RV of 20% - 75%

I'd be happy with a RD followed by a 1-1 RV, i won't make much, but i'll still be collecting interest in Warka and i'll know that the RD has created a strongly backed solid currency with real value...But i hope and dream for the 10-25% RV after the RD

[jcongdon]

in for the long run.... not "calling it", but it will be awhile. Let's all just be happy that we have some, so when it happens we will will CASH.

In the mean time, hope al are happy and healthy.....

[tgar]

Your speculation, your call, Why you asking us ?

[Darin]

In the event that a re-denomination (LOP) is confirmed. Government documents, CBI plans, etc. I would cash-out as fast as I could. At the latest, I would "maybe" (Which would not be a bad idea) wait until the new lower denominations would be introduced... Just to ensure that the R/D is legit (Don't want to fall to tricky tactics).

Now, why would I cash-out as soon as I could? -- Because we don't know if the Dinars we hold may be easily exchanged for USD. I would maybe even have a hard time finding a bank to exchange my notes. Banks already no longer deal with it (for the most part). I would hate to hold the paper to find out in the near future it will be worthless.

I would cash out for USD. Than re-assess whether investing in lower denominations would be worth it. Doubling, tripling, or so your money does not seem all that great for an event that "may" take 2-3 years. Because it may take 2-3 years to POTENTIALLY see the rate rise that much. That is still an unknown & uncertainty.

I'm just going off the idea I want to make sure what I hold can be sold. I would hate to get greedy and think, I should hold on to it in case they raise the rate after a lop. I think they'll do it at the front of the process or at the end. Not so much in the middle, but it is possible.

[Roadie]

Lol I thought this thread was gonna be worst case it RV's at $.86...do you cash out some and wait for it to climb up to 3.00+. I stepped into a RV vs. RD thread.

[jcongdon]

Your speculation, your call, Why you asking us ?

not asking you.

just saying...

Edited September 8, 2011 by jcongdon

[4aprofit]

From 2003 to 2008 the currency rose steadily...while the entire country was in chaos and complete turmoil, even in a civil war to boot....then comes 2008....and the currency is locked at 1170 for now appx. 3 years...while everything was being and has been being stabilized...with trillions spent on infrastructure and the oil developments....and now they want to put a spin on this thing, that they are not going to have any type signifigant rise in the currency, so as per being able to drive this huge beast...lol.....This would be like going back to the roaring 50's in America, and saying o.k., we're dropping the U.S. Dollar to nothing, so that all of the infrastructure and manufacturing efforts that have been put in place now since World War II has ended...is now lost folks, all your efforts were wasted...I think not....Whether it be Exxon or McDonalds, they know before they go, as some say in business logistics and planning...There is simply too much smoke here for their not to be fire...but, there is plenty of B.S. to go around for everyone...and the media entities will try and snow us with all types of negative pump as we near the end of this ride...just as they've kept a veil over Iraq during this massive wave of developments that are happening in Iraq...that includes the flow of money like has never been seen on the planet...that is happening in Iraq right now...oh, that's right, if CNN and FOX did'nt say it, it must not be true!...lol....

[dtard]

First of all, I don't think you have identified the worst case scenario.

Second, if there was a "redenomination", your bank won't buy them.

I have a question for you,

what would you do if there was a "Redenomination" with an "in Country" only exchange and window?

So the worst would be stuck holding toilet paper, a little scratchy but very nice looking.

but if they do redenominate they can not gain the global confidence that they desire for their currency.

So I say NO RD.....................GO RV !!!!!!!!!!!!!!!!!!!!!!!!

ID FLY TO IRAQ AND GET MY MONEY!!!!!! WOULDENT YOU?

STILL THEY CANNOT SCREW NEW INVESTERS /THEIR PEOPLE LIKE THAT.............

[DinarC]

Why make yourself crazy about this? Figure out each scenario on paper and when the news comes in you will know how to proceed.

Another very important note: Your head will always get you into trouble and your heart will never lead you astray. Follow the part that "feels" right and you will never go wrong.

Namaste

[DinarC]

I just have one little question....after contemplating this..... why would Iraq revalue at anything less than close to Kuwait??? Especially with their future loooooking sooo positive.

I think the confusion perpetuated by the media is aimed at getting as many dinar "off the streets" so to speak as possible before they come out at a healthy rate. What would be the point in a coming out party if you looked like the maid and not the princess? We are talking about a proud people who have been drug through the dirt for far tooo long and I would think Shabibi and all involved will want this to be the coming out party worthy of historical praise.

So again, I say Plan A, Plan B. Create something for yourself that will support you in thriving, living life fully and generating the experiences that contribute to having more love, healthy relationships and contribute to your success and mission!!

Life IS GREAT!!!

Namaste!

Edited September 8, 2011 by DinarC

[umbertino]

I don't think that way. 1 to 1. GO RV!!!!

But specify... NO LOP