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New Iraqi Dinar


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New Iraqi Dinar

By Christian DeHaemer

Monday, October 24th, 2011

There was a popular song in Indonesia which told of the Prophet Muhammad going to the market with eight dirhams, or silver coins.

Along the way, he gives away six dirhams to the needy and uses the last two to buy new clothes.

Fifteen hundred years ago, the price for some new cloths was two dirhams — or about $15...

Today you can still buy clothes for that price.

Iraq War

At some point in the near or far future, the value of paper money will fall to zero.

I've received packages from my buddies in Iraq during the height of the war. They mailed me knickknacks wrapped in Iraqi dinars instead of newspaper.

They told me the dinars were laying all over the place, stacked on pallets and blowing in the wind down the alleys.

The old Iraqi dinar has been demonetized and a new dinar issued. It is currently trading at 1,170 per dollar.

And despite what the mainstream media would tell you, the dinar has gone up over the past five years. This is mostly due to the fact that the U.S. dollar has fallen. You would have beaten the S&P500 over the same time period.

This is because Iraq is booming. GDP grew at more than 12 percent last year.

They still have 115 billion barrels of proven oil reserves, which puts them third behind Saudi Arabia and Canada. Oil production is at 2.9 million barrels a day with the dream of producing 12 million bbd by 2017...

Iraq has a modest fiscal deficit of just 8% of GDP.

This is why I've been buying small oil companies that will benefit from the Iraqi growth story.

New Coins

And while we are on the subject of Mohamed and his silver coins, it looks like Iraq will be putting out its first coins since 2004.

Alsumaria, Iraqi satellite television, reported on September 3: “Iraq Central Bank said that it won’t only delete the zeros, but it will also change Iraq monetary structure in order to provide bigger currencies.”

According to the new legislation working its way through the government, coins will reappear again in the Iraqi currency.

There will also be new banknotes, which will be printed in Kurdish as well as two other languages — and they will carry pictures of Iraqi civilization, not Saddam.

000

Three zeros will fall off the end, which will make for easier math without changing the purchasing power.

These are the second set of new coins. In 2004, the Coalition Provisional Authority that followed the overthrow of Saddam authorized new coins and bank notes. Twenty-five, fifty, and hundred-dinar coins were introduced, however they proved to be unpopular and were quickly pulled.

Don't look for the reissue of the dinar this quarter. It will take three years for the currency to reform to be a reality...

They still haven't figured out which bribe will win the printing license.

Part of the Iraq dinar buying frenzy of the last few years has to do with the idea that dinars will switch over and be worth a lot. This happened in Germany in 1948 when rationing ended, price controls were abolished, and the money supply contracted when the then-new deutschemark was put in place. It lead to the post-war German economic miracle.

Out of Iraq

It's a big stretch to say Iraq is the same as 1948 Germany...

But there is massive opportunity.

Today President Obama said the nearly complete withdrawal of American military forces from Iraq will happen by the end of the year.

This is good news.

Sincerely,

chris-sig.png

Christian DeHaemer

Editor, Wealth Daily

http://www.wealthdai...raqi-dinar/3272

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I don't see how deleting 000's from the currency is positive. They are talking about the notes not the rate.

Also, what does it mean when they say they will be providing bigger currencies?

Alsumaria, Iraqi satellite television, reported on September 3: “Iraq Central Bank said that it won’t only delete the zeros, but it will also change Iraq monetary structure in order to provide bigger currencies.”

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"Three zeros will fall off the end, which will make for easier math without changing the purchasing power."

"It will take three years for the currency to reform."

This investment appears to be toast. Three more years of waiting for a change that will not change the purchasing power. What a waste of time, energy and money.

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This is all bad news. Removing three zeros means LOP. New currency means worthless current currency. The only thing I see here that means anything will happen is the troops pulling out. This means the current IQD would (according to this article) simply be replaced sooner than later.

This article just about says it all. The dinar will L O P and the purchasing power will not change. Won't happen for 3 more years.

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"Three zeros will fall off the end, which will make for easier math without changing the purchasing power."

"It will take three years for the currency to reform."

This investment appears to be toast. Three more years of waiting for a change that will not change the purchasing power. What a waste of time, energy and money.

And so now we rush Helter Skelter with our fingers in our ears , what because of one article and or one persons

opinion ................................. NOT ! :blink:

I think I'll wait and see what Adam thinks first :D

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Everything in this article is old news, nothing he said is any different than what we've been hearing for the past few months, we knew about the lifting of the 000 months ago, thats how all this lop talk started, and we've known about the coins for months, we also know that the new currency is coming and its going to be used side by side with the old for 2 to 3 years, until all the notes with the 000 are gone.

So what's the fuss all about. :lol:

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Hmmmm.....recycled news...and an opinion piece at that. And reactions that are pretty much on par with every other "delete the zero's" news.

I am not going to panic.....it's not over yet and they are NEVER going to come right out and say it's going to RV. They will however make lots of lop noises and other misdirections.

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All these news sources defining a lop. the cbi , economists, ministry of plannng, and all these news sources. all liars right..... hmmmmmm.

Not liars. I believe there could be a chance that they will "lop" the value of my dinar. I am a realist and I read and listen to the lop as well as the rv without a lop. There have been articles that make it hard to believe it will be a lop also...so I am not panicking...just taking it as it comes without insisting either one is correct.

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U.S. troops pulling out of Iraq is good news.......for Iran. You can be sure they are laughing their a$$es off at a country that would spend one trillion dollars freeing the Iraqi people, and giving the lives of over 4,500 of her young people, only to cede the country lock stock and barrel back to the Iranian regime. Makes you wonder whose side the U.S. administration is truly on.

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The person that wrote this article is obviously pessimistic. Putting this aside, it's as clear as day that this person did not do their research and seems to be misunderstanding some basic principles here. Relax people, he's just one man with an opinion that seems based on facts, but in fact is based on articles from various sources that he creatively uses to support his opinion, without using other articles that refute the previous ones to present a balanced approach. This opinion is simple propaganda, nothing more. Do your own research.

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U.S. troops pulling out of Iraq is good news.......for Iran. You can be sure they are laughing their a$$es off at a country that would spend one trillion dollars freeing the Iraqi people, and giving the lives of over 4,500 of her young people, only to cede the country lock stock and barrel back to the Iranian regime. Makes you wonder whose side the U.S. administration is truly on.

The world, especially the US, has been trying to go in to Iran for the strategic value for years. The removing of troops, H. Clinton's threats to Iran, and the false flag assassination attempt is just the justification for war with Iran. See past the IQD news and in to the real end game here.

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slow down peeps.

If they are going to remove 000 couldnt this mean that they will print new 5000.=5 1000=1 and 25000=25

To me this only means they will be printing new money in these denomination.

1 and 5 and 25. to add to existing 50 250 and not sure 500.

Make since....

Edited by kid4dinar
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USA would not leave with out consulting with UNSC they are the ones that have put the sanctions onto Iraq.

UNSC told them last UNSC meeting that they were ready to become a soverign nation. But not until cht7 is lifted theycant lift cht7 until kuwait agrees with a deal.

They cant remove all sanction until GOI is DONE, and under GOI control. the last seats were defence minister and finance minister.

Shabibi told Maliki to hurry and seat the GOI. Hurry to me means he has a deadline.

So with the withdrawl of usa all must be complete. How else can they withdrawl. Last and MOST important is they have to have Tradeable currency.

To me, we are in the final days till rv.

Just putting together the missing pieces of this puzzle.

May not all fall in this order but all must be completed. JMHO.... :)

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This article just about says it all. The dinar will L O P and the purchasing power will not change. Won't happen for 3 more years.

If this is what you feel or think will happen sounds to me like you should sell your dinar and move on to the next way to make money that suits you. Tired of people shoving l o p down my throat as every article or opinion piece comes out. I'm well aware of what can happen, and I will also be the one making the final decision for me. Have a nice day

Just noticed your not verified. I don't know if you even own dinar.

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the fact is that cbi have put out articles stating that they will make 100,000 notes....now why would they make these notes if they are going to have the "zeros fall off the end"

doesn't that sound like a waste of printing.

come on

:lol::):lol::P:):P:lol::rolleyes:

Palm - An adviser to the CBI the appearance of Mohammed Saleh, said that the Iraqi currency needed to expand and we will work to issue currency category 100 thousand dinars.

واضاف صالح في تصريح صحفي ان البنك المركزي يدرس فكرة اعادة هيكلة العملة من حيث مواصفاتها واشكالها لذلك سنعمل على اصدار فئات جديدة من العملة تكون لها القدرة على اختصار الكميات الكبير من الامول لافتاً الى ان التعامل المستمر في استخدام 100دولار هو اكبر دليل على الحاجة الماسة لعملة بهذا الحجم . Saleh added in a press statement that the central bank is considering the idea of ​​re-structuring of currency in terms of specifications and forms for that we will issue new categories of currency have the ability to shorten quantities large financial aid, pointing out that trading continued to use the $ 100 is the biggest evidence of the urgent need for the currency of this of scale.

وبين صالحي ان عملية رفع الاصفار تحتاج الى وقت وموافقات رسمية من الحكومة والبرلمان موضحاً ان الوقت الحالي غير موهيأ لحذف اصفار من العملة. And Salehi said the process of lifting the zeros need time and official approvals from the government and parliament, adding that the moment is Muhio to delete zeros from the currency.

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=auto&tl=en&u=http%3A%2F%2Fnakhelnews.com%2Fpages%2Fnews.php%3Fnid%3D4366

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the fact is that cbi have put out articles stating that they will make 100,000 notes....now why would they make these notes if they are going to have the "zeros fall off the end"

doesn't that sound like a waste of printing.

come on

:lol::):lol::P:):P:lol::rolleyes:

Palm - An adviser to the CBI the appearance of Mohammed Saleh, said that the Iraqi currency needed to expand and we will work to issue currency category 100 thousand dinars.

واضاف صالح في تصريح صحفي ان البنك المركزي يدرس فكرة اعادة هيكلة العملة من حيث مواصفاتها واشكالها لذلك سنعمل على اصدار فئات جديدة من العملة تكون لها القدرة على اختصار الكميات الكبير من الامول لافتاً الى ان التعامل المستمر في استخدام 100دولار هو اكبر دليل على الحاجة الماسة لعملة بهذا الحجم . Saleh added in a press statement that the central bank is considering the idea of ​​re-structuring of currency in terms of specifications and forms for that we will issue new categories of currency have the ability to shorten quantities large financial aid, pointing out that trading continued to use the $ 100 is the biggest evidence of the urgent need for the currency of this of scale.

وبين صالحي ان عملية رفع الاصفار تحتاج الى وقت وموافقات رسمية من الحكومة والبرلمان موضحاً ان الوقت الحالي غير موهيأ لحذف اصفار من العملة. And Salehi said the process of lifting the zeros need time and official approvals from the government and parliament, adding that the moment is Muhio to delete zeros from the currency.

http://translate.google.com/translate?js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&sl=auto&tl=en&u=http%3A%2F%2Fnakhelnews.com%2Fpages%2Fnews.php%3Fnid%3D4366

In that case they are going to need those 25,000 notes to make change right? ;)

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If this is what you feel or think will happen sounds to me like you should sell your dinar and move on to the next way to make money that suits you. Tired of people shoving l o p down my throat as every article or opinion piece comes out. I'm well aware of what can happen, and I will also be the one making the final decision for me. Have a nice day

Just noticed your not verified. I don't know if you even own dinar.

well said.

I agree. We are not a bunch of little children and we do not need all these repetitave " in your face" reminders.

I'm not just tired, I'm sick and tired.

Those that feel so badly about this investment should sell out and not stir up the hornets nest.

I will stand fast and keep what I have till it's over. I will remain optimistic.

The "deoom and gleoom" is very tiresome.

And, yes, I know how to spell doom and gloom. I just think the Leprechaun had a cute way of saying it.

Let's all have a nice day, if we can.

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