My thoughts, but just my own, what are yours?

[IchDien]

My thoughts…

Do I honestly think my Dinar will magically turn into millions of US dollars, no, but it MIGHT be possible.

What is MORE likely, if you read what the CBI (Central Bank of Iraq) actually say in their news releases is that they will delete three zeros, issue new currency for the new denomination, set the revalue rate, then increase the value over time. They also say they plan to do this before the end of two years, so could be next week, could be next year. Why do people think it will revalue before Jan 1? This starts Iraq’s fiscal year and they have to have all laws and such in place before then in order to revalue the currency. I personally think that there is far too much to overcome and far too many reasons to wait until next year to revalue the currency, especially when considering the fact that many people that own Dinars have owned them for many years waiting for this magical million dollar payday.

If the CBI does what they say they will do, the way they say they will do it, then here’s what it would mean to us….

Say you invested $1200 for $1,000,000 Dinar.

Then the delete three zeros, you now have $1,000 Dinars AND now must trade in what you had to claim the new denominations.

Then they revalue.

Say they revalue at $1.20 per Dinar, well, then you break even, but anything less and you lose money, anything more, you gain money.

Either way, millions are not in your future.

Say they decided to set the miracle valuation of $10 per Dinar, great, your 1,000 Dinar is now worth $10,000, you made $8,800 profit, still no millions.

Given that there are some 50 billion plus Dinars floating world-wide, IF they were to simply revalue at $1 per Dinar without deleting the three zeros and issuing the resulting new currency, then there would suddenly be 50 TRILLION dollars’ worth of Dinars in the world, more than ALL the world’s currency combined. Seems unlikely. So…Deleting the zeros is a MUST first to reduce the likely balloon effect, then the revalue to stabilize the currency, THEN perhaps increase the value of a few years. Still no millions. The ONLY way millions is even remotely likely is if they decide to stay with the current currency and revalue at a MUCH lower rate, say 10 cents, then you may have a shot at something, but still the issue of 50 billion Dinar suddenly becoming 500 billion dollars, plausible, possible, but I’m not so sure. This all amounts to a wait-and-see attitude with hope that the miracle will happen, but know that profit is likely, eventually. Still want to buy Dinar? I hold some Dinar, I hold hope that miracles do happen, but am grounded in reality and expect that I could fall somewhere between losing some money (if they revalue at, say, 80 cents) and gaining a small profit (if they reinstate to pre-war rate of $3) – assuming my reading of all this is correct. I may be totally wrong, who knows, but IF I am, then I’ll be looking forward to my millions, since my reading of this IS the down side!

Read more:

[speculatorsRIDE]

Oh yeah, I will be following this topic. Great questions on the poll.

[SurfingTheDinarWave]

I want to clear up a few of the questions, first question: when you ask 3 zeros removed are you asking are they taking the notes with 3 zeros out of circulation off the market or taking scissors to the them and making say 25000 dinar 25 dinar? cause I have news for you if the latter is your thoughts!

question #2: introducing new currency meaning they will no longer have the IQD as that symbol and have a totally new currency with a different symbol or just adding new denominations to the existing currency cause again I have news for you if the first part is your intentions and that would make this poll entirely misleading and your results are tainted!?

[IchDien]

I was thinking along the lines of removing three zeros from the bills, as news indicates they plan to do. As for the new currency, I was thinking that if they did delete the zeros, they'd have to create new currency with new denominations, or at least remove the largest bills from circulation entirely, and not along the lines of a new currency symbol.

[SurfingTheDinarWave]

I was thinking along the lines of removing three zeros from the bills, as news indicates they plan to do. As for the new currency, I was thinking that if they did delete the zeros, they'd have to create new currency with new denominations, or at least remove the largest bills from circulation entirely, and not along the lines of a new currency symbol.

That is not what the news indicates as you are taking it out of context and cultural language barrier, what they are indicating is they are taking them out of the market they will go from circulated to not circulated and it will take them 3-4 years to get them all out of circulation.

They already have a new currency which is what we hold now, they will simply do what the US has done over the years and insert new notes into the existing currency structure which is what the news means when they tell you Iraq will restructure the currency, the new notes and addition of coins will be lower denominations they will put them out and actually already have one of them out, the 50 dinar which I have 10 of them myself, so you should probably clarify your questions so you do not mislead people and to get accurate results! Especially since you are pretty new here no need to have tons of people jump you for it!

[IchDien]

It doesn't allow me to edit the questions, it says an error instead. New here, yes, hated here already, yes, but entitled my thoughts and questions...yes? This is the real purpose of my post, afteral, is to see if I can cut to the chase and get to the "facts" of the case without drowning any further in hype, misdirection, and information overload. The purpose of my poll is simply to get a feel for what others are thinking to see not only how I guage in my own thought on the subject, but to get a synopsis of where people stand on the basics. I'd welcome some one else's poll, perhaps yours, that could do this more accurrately or do a better job at it, as, as you mention, I am but a noob and thus do not profess to actually "know" anything, just posting my thoughts and seeing what others think.

[rapidrex]

Seems to me they were talking about this POSSIBLY happening in the next FOUR years or something...not two, and for sure not next week.

[SurfingTheDinarWave]

It doesn't allow me to edit the questions, it says an error instead. New here, yes, hated here already, yes, but entitled my thoughts and questions...yes? This is the real purpose of my post, afteral, is to see if I can cut to the chase and get to the "facts" of the case without drowning any further in hype, misdirection, and information overload. The purpose of my poll is simply to get a feel for what others are thinking to see not only how I guage in my own thought on the subject, but to get a synopsis of where people stand on the basics. I'd welcome some one else's poll, perhaps yours, that could do this more accurrately or do a better job at it, as, as you mention, I am but a noob and thus do not profess to actually "know" anything, just posting my thoughts and seeing what others think.

Not trying to shoot you down, just start a new topic and put the same poll in it with the reworded clarified questions. the majority of those on this site minus around 10% feel the same way I do and see it that way as well, that is from cutting through the red tape and getting the facts not the misinformation and yes there is a lot of it which how you got to the conclusion you did facts is there are so many factors that drive an RV out of Iraq I would be here explaining just a few of them for days, dive into this site and start reading a few topics you have an interest in and you will see what's going on...welcome to DV!

Seems to me they were talking about this POSSIBLY happening in the next FOUR years or something...not two, and for sure not next week.

what they are saying will take 3-4 years is the time it will take to completely remove all the 3 0's notes from circulation after they are cashed in.

not the process starting then, the process starts with an RV, which they need to happen right now to curb the core inflation that is rising daily, yes they controlled hyperinflation back in 2007 but they went from the lowest core inflation in the world at 2.3% in January this year to 7.61% in August they have yet to release September which I am willing to bet is at or over 8%, if it gets to 10% or goes over it will start up the hyperinflation engines again and it will collapse the entire market, so Shabibi needs to do this like yesterday and he can't wait a moment longer!!

[rider460]

That is not what the news indicates as you are taking it out of context and cultural language barrier, what they are indicating is they are taking them out of the market they will go from circulated to not circulated and it will take them 3-4 years to get them all out of circulation.

They already have a new currency which is what we hold now, they will simply do what the US has done over the years and insert new notes into the existing currency structure which is what the news means when they tell you Iraq will restructure the currency, the new notes and addition of coins will be lower denominations they will put them out and actually already have one of them out, the 50 dinar which I have 10 of them myself, so you should probably clarify your questions so you do not mislead people and to get accurate results! Especially since you are pretty new here no need to have tons of people jump you for it!

Somebody with some common sense. My BIL believes that the IMF controls the value of money and is going to "lock down" the price of Dinars. Oh Well.

[So.Cal Dinar]

.  Forget the dates, rates, and the potential return, don't buy more than you can afford to lose

Thanks Adam