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TidBit from Phonex on Dinar in Circulation


john1025
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explain this.....if the dinar was at one time 3.xx something before the sanctions, why would you think after 20 years that it should not be re-instated back to around that level? and if it was 3 then.........they sure seemed to have it covered with this money supply deal you all speak of.. what am I missing?

I am not saying will RV at 3. but seems like with progress to the country and getting ready to be free to function at their best.....should be near that or start above 1 as it gets itself in position.

The answer to your question has actually been in some of those recent articles. (I could give you the link but it is on my office computer and I am at home). They said that in 1990 Dinar in circulation was 25Billion. Now it is 25 Trillion and they give that as a reason that 3 zeros are being removed. Sorry I can't give a link tonight.

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Sly . . . . . there's a good chance of that. Enorrste did an excellent analysis a couple of weeks back(which you can probably find in an older thread here) stating his believe that the most likely scenario would be $1.30 - $1.50. I believe he felt that if they came in real low at say a dime, it would flood speculation money from around the globe and cause more problems from a too rapid of a rise upward. While Iraq could support a $3+ RV, it would be safer to come in at the mid-point, or around the Euro.

I'm not disputing what you have printed here because I don't know everything that Enorrste has printed. All I ever remember reading was that Enorrste has said 1.50 to 3.86 but he most always qualifies that by saying he believes that it will be on the high side and in the threes can be justified.

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Thanks Phoenix and Den56 - I've heard rumor that the IMF suggested $1.47/IQD...! So, this makes sense to me. However, the same rumor gave an RV range of 1.47 to 2.52 as an initial RV. Personally, I don't know anything, but I have hopes...we'll just have to wait and see. RON :)

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I've posted this in a few spots,

Ok folks, I feel like this a great post but keep in mind that the total amount of dinar in circulation 1990 was 25 billion that was worth approximate 70 75 billion us dollars. Now, there is 25 trillion dollars in circulation. TRILLION!! that is a huge huge # 25,000,000,000,000.00 compared to 25,000,000,000.00 that is 1000 times more notes than it was originally. Maybe they purposely printed 1000 times more currency knowing that they would redenominate in the future where both bills would carry the same value, how ever not the value stated on the note itself!!!!!! which is a lop by redenomination. which will bring the total # of bills in circulation to the same number as before (1990), so in the end no gain no loss same # of bills which is easier to bank with less handling as they stated. I beleive the reval will be for the redenominated currency. Example 25,000. exchange for 25 then at some point and time either at the same time or later after the redenomination takes place the reval will take place for the new currecny only, for instance lets say it revals to three us dollars keeping it simple for demonstration purposes then the 25 dinar would then be worth 75 us dollar, which would make things the way they were before (1990) or at least close to it. What does that mean for us, well forget the million dollar dream, but instead a more conceivable realistic return on your investment then the proposed gains of 1000 times or more. three times is still a good ROI better then most I would say. I came into this with high hopes to be indepently wealthy as did most and now it is very clear if you open your eyes to the reality that it is just not possible to revalue 25 trillion dollars more then all the worlds money incirculation combined. I just wanted to shed some light on my my perspective which is only my oppinion, I respect the oppinion of others as well and hope the best for this investment for the betterment of all people. So dont go quiting your day job. ty. aka epicmotors

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Let me take a stab at trying to help you folks understand this.

First, he stated "I think what we are about to see is a novel event and a “hybrid re denomination” if you will.

I think we will see this combined with a revaluation." I believe he is saying that they are going to RV and re-dominate the currency simultaneously. In other words, there will be an RV and an introduction of the smaller demons and fils (i.e. bills & coins) at the same time. Then, the CBI will put a time limit to exchange the larger bills to draw them out of circulation, although they may still be used for institutional banking (i.e. only between banks). In fact, he stated this just a couple of paragraphs later.

Secondly, there are two measures of "money supply" . . . . "MO", or Physical Currency. And "M2", or Total Currency, which is the total of Physical Currency and Digital Currency. The reason that Phoenex wanted to discuss this is because . . . . there have been many analysis' floating around stating that Iraq could NOT afford to RV, because there is too much physical currency in circulation by incorrectly using the higher "M2" figure instead of the actual lower "MO" number, which makes an RV much more realistic.

Anyways, that's my stab at it . . . hope it helps.

Perhaps then you can explain this fact that as of January 31, 2010 the IMF had this listing of rate?

Iraq: Exchange Rate

as of January 31, 2010

The SDR is an international reserve asset created by the IMF in 1969 and serves as its unit of account. The currency value of the SDR is determined by summing the values in U.S. dollars of a basket of major currencies.

Download this file

TSV -- TSV tips

(in SDRs per Currency unit)

Date Exchange Rate

April 30, 2009 0.000570626

April 30, 2008 0.000512352

April 30, 2007 0.000516326

April 28, 2006 0.000460244

April 29, 2005 0.000451682

September 22, 2004 0.000466938

September 08, 2003 2.53758

April 30, 2002 2.53758

April 30, 2000 2.43852

April 30, 1999 2.38074

April 30, 1998 2.38881

April 30, 1997 2.3558

April 30, 1996 2.21848

April 30, 1995 2.04504

April 30, 1994 2.26323

April 30, 1993 2.26004

April 30, 1992 2.34852

April 30, 1991 2.39924

April 30, 1990 2.46985

April 28, 1989 2.48283

April 29, 1988 2.3240

April 30, 1987 2.46269

April 30, 1986 2.73556

April 30, 1985 3.24557

http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=460&date1key=2010-01-31&category=EXCHRT

How does this play out in the meeting scheduled between IMF and Iraq for next week? Or does it. It looks like old data but yet IMF says it is rate as of January 31, 2010.

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"Hey Dinarwolf"

I used to subscribe to the same logic as you that Iraq used to be at 3.22 before the war, until I found out that the only place the Dinar was worth 3.22 was in Iraq!!! At that time, the Dinar was not accepted as a currency on the world market. Saddam was the one who set that value. It was a false value and is used alot, today, to trick people into buying Dinar. Sorry to burst your bubble. I sure did not like it when this was brought to my attention and I am not suggesting an amount for the RV, just wanted people to know the facts.

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"Hey Dinarwolf"

I used to subscribe to the same logic as you that Iraq used to be at 3.22 before the war, until I found out that the only place the Dinar was worth 3.22 was in Iraq!!! At that time, the Dinar was not accepted as a currency on the world market. Saddam was the one who set that value. It was a false value and is used alot, today, to trick people into buying Dinar. Sorry to burst your bubble. I sure did not like it when this was brought to my attention and I am not suggesting an amount for the RV, just wanted people to know the facts.

gman51, be a good man, will you? Are you age 51 so impatient when it is so close? Just be cool and have faith for the last time.

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