(ICB) has confirmed it will issue a new bill with a value of 50,000 IQD ($43) but marked as 50 dinars.

[precious1]

Well...thats no fun. I am gonna delude myself and believe different because I wanna be a millionaire sooo freakin bad! Go RV!!!

chuckles...I'm right there with you!

There's lots of us texans here.

Go RV

Hey me too! I am a Texan import!

[Elixirbaby]

Hey me too! I am a Texan import!

Where did they import you from?

[mrmcwhipit]

Doesn't matter how many times you say it, it doesn't make it any less wrong. YOU CAN'T BACK UP A CURRENCY WITH MORE OF THE SAME CURRENCY. Did that help? If it didn't, you'll learn sooner or later. Iraq also cannot convert trillions of dinar to USD like someone buying something from eBay.UK with a USD credit card. Doesn't work that way.

If Iraq can do both those things, why do they have a foreign currency reserve at all? According to you it's pointless, because they don't need it to back the dinar, and they can convert as much dinar to USD whenever they feel like it. Your arguments make no sense whatsoever. I wonder if you even believe them.

I Guess Sonny is going to have to hold your hand on this after all, if the Dinar RVs it will be worth the same in or out of the bank pretty easy to understand and if there

is more in the bank than out they have it covered .

[JWJW11]

What's pretty easy to understand is that you can't back up a currency with more of the same currency. It's complete nonsense. Why doesn't Iraq print 500 trillion more dinar, leave half of it in the CBI, and then RV and become even richer. USE YOUR BRAIN.

Not you again. Why are you hangin around here....get a life already....they arent printing more dinar to cover it....its already in the banks knucklehead

[machcobra]

simply put, it is the new 50.00 note with only a twist of words as they introduce it. This to me is great news!

What is everyones take on this ? Good, bad , what ?

[Carrello]

50 dinar would become .05 dinar, or 50 fils. Not .05 fils.

I think dinarbot needs some new math circuits.

Back off the robot!

[FarmersDaughter]

This is the most telling article that I have read as of yet. They certainly cannot say that they are coming out with a 50 dinar bill because at the current rate it would be both useless and worthless. So....they are saying that they are coming out with a 50 dinar bill that is really a 50,000 dinar bill (wink, wink) because it is only going to be worth $43 dollars which we we all understand is .86 per dinar. They cannot tell us that they are going to RV so this is how they are covering their backside. Am I optimistic or what?????

[RadioTom]

Best to be optimistic about this investment....period!

Edited November 30, 2011 by RadioTom

[MovieMaker]

in fact i am in possesion of ten 50 dianr notes

Yep, I have a bunch of them too.

[Carrello]

Common people! twelve pages is enough for one article

If you are not enjoying the information, change the channel.

Best to be optimistic about this investment....period!

Optimistic is good. But you need some realistic mixed in there too, for me that is.

[skinz]

But, but, but, we are so close to finally proving the infamous LOP/RV theory on this thread! There is something about this one out of the hundreds that has potential! ..... :x

[mrmcwhipit]

If your curRency is backed by gold, that means you can exchange your currency and get gold. If your currency is backed by silver it means you can exchange your currency and get silver. If the dinar is backed by the USD it means you can take your dinar and exchange it for USD. that's what BACKED BY means.

So, tell me, when your dinar is backed by dinar, What do you exchange it for? You exchange your dinar for MORE dinar? THINK. You can't back a currency with more of the same currency. The idea is utter nonsense.

no not dinar but that dinar can buy dollars or gold that can back it up yes ? that doesnt sound like nonsense it does have value to buy after it RVs.

[onerighthand]

If you are not enjoying the information, change the channel.

FINE! Go ahead and beat the dead horse! It's aimless and pointless, but go ahead.

[mrmcwhipit]

If your curRency is backed by gold, that means you can exchange your currency and get gold. If your currency is backed by silver it means you can exchange your currency and get silver. If the dinar is backed by the USD it means you can take your dinar and exchange it for USD. that's what BACKED BY means.

So, tell me, when your dinar is backed by dinar, What do you exchange it for? You exchange your dinar for MORE dinar? THINK. You can't back a currency with more of the same currency. The idea is utter nonsense.

So are you telling us they cant back their currency ?

[HopefulTxn]

So are you telling us they cant back their currency ?

Think what they are pointing to is simply that Iraq/CBI cannot use IQD to back the value of their IQD, which makes sense.

[mrmcwhipit]

Think what they are pointing to is simply that Iraq/CBI cannot use IQD to back the value of their IQD, which makes sense.

Ok i understand that but what about their natural resources Barrels of oil as well as un tapped reserves, natural gas, metals etc ?.

[HopefulTxn]

Ok i understand that but what about their natural resources Barrels of oil as well as un tapped reserves, natural gas, metals etc ?.

Unfortunately, there has been much talk about how much their vast oil reserves and other natural resources are worth without anyone ever showing that even one country presently, or in history, has used such potential wealth to value their currency.

If the US were to do so, would we still be worrying about the value of the USD falling against other currencies of the world, especially with all the oil and oil shale deposits known to exist here?

Would Venezuela have such a low value of their currency with such a lunatic at the helm and oil reserves that have been stated by the USGS to exceed Saudi Arabia?

Would Ahmadinejad of Iran have such a low value to their currency (10,000+ to the dollar)?

These are countries that, under IMF rules, are already in Article VIII - which is something that Iraq is still hoping to achieve (currently in Article XIV, restricted).

There is just no evidence that has been put forward to support any argument that in-ground natural resources can be used to valuate a country's currency.

I wish there was. I speculated on the dinar just like everyone else, and would love for it to hit like everyone hopes that it will. But many of the arguments for it doing so just are not supported by facts of how every other country does so. Will Iraq become the first? Who knows... One never knows when the world changing events are going to happen, they just do and you look back on them and say AH-AH!. There just is no promise/guarantee that Iraq will be the first, or that anyone would let them be based on their instability.

[tigerstripes]

Thanks for the article. I found the following statement interesting "Saleh said there were currently some 29 trillion dinars in circulation in IRAQ" anyone else?

Mmmmm....the article was dated 24 June 2011. the CBI statements for June 2011 said just over 25 trillion dinar (currency outside banks). Maybe Mr Saleh had the other 4 trillion stuffed under his mattress.

[tigerstripes]

If your curRency is backed by gold, that means you can exchange your currency and get gold. If your currency is backed by silver it means you can exchange your currency and get silver. If the dinar is backed by the USD it means you can take your dinar and exchange it for USD. that's what BACKED BY means.

So, tell me, when your dinar is backed by dinar, What do you exchange it for? You exchange your dinar for MORE dinar? THINK. You can't back a currency with more of the same currency. The idea is utter nonsense.

Just curious....which currencies are currently backed by commodities?

[MovieMaker]

There's lots of us texans here.

Go RV

Me too!!! Yehaww

[soulgypsy76]

Born an raised in Dallas, lived in Ohio for one year, and England for six months.

[Midx1]

This is the most telling article that I have read as of yet. They certainly cannot say that they are coming out with a 50 dinar bill because at the current rate it would be both useless and worthless. So....they are saying that they are coming out with a 50 dinar bill that is really a 50,000 dinar bill (wink, wink) because it is only going to be worth $43 dollars which we we all understand is .86 per dinar. They cannot tell us that they are going to RV so this is how they are covering their backside. Am I optimistic or what?????

Really hope you are correct farmers daughter for us anyway.

On a down side,though what if every iraqi had two 25 thousand IQD notes and what they posted is true.

That would mean every Iraqi would have the equivalent of 50,000 usd, where before it was worth only about 42 USD.

Could you imagine the inflation rates there with all this money and not much to buy with it.

A car that cost 10,000 usd would become an instant shortage due to supply and demand.

An apartment that cost 35.000 USD would now be sold at triple or more its price.

Due to the shortage,,everyone would have money and not enough supply to handle it.

So all things would spike up to levels that most could not afford.

They keep referring to Turkey and the R.D there.

Where 1 million old Turkish lira was the same as the new notes of 1 Turkish Lira.

I lived and worked there then.

My X is Turkish and I still have a home there.

When this R/D happened the money was worth the same.

1 million Turkish Lira old notes was valued the same as 1 new turkish Lira.

Both currencies were used at the same time.There was like a 1 year period they had to take the old large notes off the market.

If I went out and bought a loaf of bread,,they call it ekmic there,

And it cost 1 million old turkish lira I could use the large denomination.

As 1 loaf of bread cost 1 million Turkish lira.

If I used the new lower denomination money I was charged 1 new Turkish lira,

Both Currencies are used at the same time.

I could not buy 1 million loafs of bread with the 1 million note.

What is going on in Iraq god only knows,,but if they keep referencing this to turkey and what happened there like they always do we are not in a good position on this one.

Unless they R/D then raise the value later.

which would gives us a 3 to 1 return.

No millionaires possible.

[Old Constipate]

My question is... If they were going to so called "lop", why wouldn't they have done it already? My answer is: because they're not going to. They are getting their "ducks in a row" to bring their currency to what is should be. And its gonna be great!!! And they WILL honor our notes at a 1 to 1 Exchange.

Not to be picky but it would be "camels in a row"

[Rich in TX]

Unfortunately, sounds to me that our investment of 25000 IQD will go to 25 then it will be worth $21.50..... same as .86! Hope I am dead wrong

you are dead right. the CBI statement is exactly the same as they have been saying since early this year. They have not changed their tune. It's amazing that someone who reads the CBI statement and believes they will do what they say can be ridiculed on these sites, as if we, the american dinar investors, are such experts in finance that we can call the CBI liars.

Again, everybody believes one way because it's what we WANT to happen. Because we are invested. But that is the wrong way to come to conclusions. It almost guarantees that we are incorrect.

rich in tx

[mrmcwhipit]

you are dead right. the CBI statement is exactly the same as they have been saying since early this year. They have not changed their tune. It's amazing that someone who reads the CBI statement and believes they will do what they say can be ridiculed on these sites, as if we, the american dinar investors, are such experts in finance that we can call the CBI liars.

Again, everybody believes one way because it's what we WANT to happen. Because we are invested. But that is the wrong way to come to conclusions. It almost guarantees that we are incorrect.

rich in tx

Dont be such a negative ned