Central Bank: the end of 2012 will see the currency exchange

[Halo9678]

Maybe it's just me but in order to exchange something, it needs to have value. So, if 2013 is to be the end of the 'exchange' period, then 2012 would be when the IQD needs to increase in value in order to be exchangeable. And considering that Iraq runs on similar economic schedules to everyone else, that means that this needs to be done BEFORE OCT at the LATEST. However, with recent events, Iraq is looking much more palpable than before. Then there's the whole petro-dinar concept. I have no problem with governments arguing, negotiating, etc., over how the money is spent. Just give me my cash-in and you can have the rest. Thanks.

[jcfrag]

I dunno. It's hard to believe that every single word the Iraqi government publishes is smoke trying to cover up an imminent RV. It's getting a little hard to believe that. All of these officials from the various factions are involved in some giant conspiracy to confuse speculators? Doesn't make sense.

I totally agree with you. I honestly think what we are really watching is an old episode of the Keystone Cops. They strike me as somewhat desperate to get er done,

yet keep going back to fight the same old battles with each other over and over again, like the in " The Twilight Zone " None the less, they are making huge strides in the right direction despite it all.

My guess is by January 12th at $1.17. I just keep looking ahead, not at what is.. (but that is just me maintaining sanity!)

[Az Joe]

All this says is they sold the world 27 trillion dinar and now we have to much currency.So now we have to change it and we won't take it back if you are buying oil. Yes that is smoke you smell.Yes your getting burned.#uck Iraq my they all burn.

[Puff]

I think This is the most important sentence in the article :"Iraq will not use the dinar in the sales of oil citizen - the follow-up denied the Central Bank of Iraq and there are efforts to use the dinar in the sales of some of the oil exports of the country, because the «market speculators will buy the dinar to sell to countries dealing with the country's oil, and we will enter into a whirlpool of speculation in the dinar, and we are already to reduce inflation, which has suffered monetary Ktltna ».

I don't know if you ve been following the articles posted on dinar vets, but one of the articles that was posted a while back, an economist was talking about how our US government will be using the dinars collected from us speculators to purchase oil from Iraq. That article was debunked by a bunch of negative people back then, saying "that this not the way it works". So according to this new article Mr. Saleh is saying "that other countries will be using the dinar to purchase oil from Iraq, and proving the negative people who debunked the economist's article, WRONG. By saying this you know that our gov. is going to be paying us top dollars for our dinars so they can buy from Iraq as much oil as they need. This is the simplest way of explaining it.

GO RV

Read more: http://dinarvets.com.../#ixzz1iu7Krdsv

RocketD, Thank you very much.

Puff

[Dinarabot]

Exchange of currency (lower denoms) to be completed by end of 2012!?. I'm really concerned about the statement that the 'Top 25 Thousand" dinar (equivalent to $20??).

What the H***??

It is just stating "currently".......

[thatoneguy]

I dunno. It's hard to believe that every single word the Iraqi government publishes is smoke trying to cover up an imminent RV. It's getting a little hard to believe that. All of these officials from the various factions are involved in some giant conspiracy to confuse speculators? Doesn't make sense.

It may not be GOI officials blowing smoke. These articles are translated, and to my knowledge, google is the only medium used to do so. So lost in translation? Manipulated by the tell tale powers that be? I dunno. Don't need to. Maybe try FREETRANSLATION.COM and run the same articles. I know this is gonna derail the topic, but the dinar can't stay at its current rate forever, and we all know this. Now my next statement may get some rolled eyes, oh well.... This is gonna happen whether we're able to dissect articles or not. None of us know the details, and yes, half the thrill is decoding rumors, news, etc; but one day, POOF... We're good.

[elmstreet61]

smoke did somebody say smoke? Smells maybe a little like smoke, just maybe.

yes....and...HEY......who took all my mirrors??? I need to comb my hair and wash my face...but i got me no mirrors in the house.....

aaahhhh....Saleh's got them all....ok, now i see...

thanks for posting this story folks.

GO RV

[armondtoth]

guys stick to the truth are they gonna wait to implement their 2012 budget with no adjustment to the exchange rate? this is complete smoke unless they plan on waiting to implement one of their biggest budgets in history till 2013 then i can say this is accuraate but i will say this is BS.

Well they did it with the 2011 budget so it wouldn't be so far fetched.

[JERRY A]

I don't know folks, after 6+ uears of hearing that everything is "smoke", perhaps we should start seeing some things as truth. So far all the smoke from years past has not been smoke at all, as proven by no RV yet. In any case 2013 still isn't that far away to those of us who have many years invested.

They want us all to believe it's smoke. 7 years here and it's has supposed to RV every week at least for the last 2 years. I certainly don't believe what i have been hearing the Gurus claim over the last 2 months. Minus me all you want. The truth sometimes hurts.

[amhvl]

Iraq sure seems to be in no hurry to do whatever they plan to do with their currency.

The only thing Iraq is in a hurry to do is take more time off...

[jcav]

Why even come out with a statement unless it was to throw Dinar speculators off. I mean really, end of 2012? That's a whole year from now. The GoI can't think that far ahead.

[cbs71]

Why even come out with a statement unless it was to throw Dinar speculators off. I mean really, end of 2012? That's a whole year from now. The GoI can't think that far ahead.

You got that right!

[skitealwedrop]

It may not be GOI officials blowing smoke. These articles are translated, and to my knowledge, google is the only medium used to do so. So lost in translation? Manipulated by the tell tale powers that be? I dunno. Don't need to. Maybe try FREETRANSLATION.COM and run the same articles. I know this is gonna derail the topic, but the dinar can't stay at its current rate forever, and we all know this. Now my next statement may get some rolled eyes, oh well.... This is gonna happen whether we're able to dissect articles or not. None of us know the details, and yes, half the thrill is decoding rumors, news, etc; but one day, POOF... We're good.

Great post. IMO the RV/RI will occur in an instance without prior warning to the media or the citizens of Iraq. It's simply a matter of time. Let's remain patient. I look at this investment from an accounting stand point. There is no way in hell that any of us will get a heads prior to the event.

[MrFnHappy]

hey keep i have a serious question i was talking with someone and they were informing me the m1 and m2's arent soley focusing on just currency they actuallyy deal with assets as well, if this is the case that can explain why it keeps increasing. Also he informed me their is actually an m0 is there any truth to this?

Definition of 'M1'

A category of the money supply that includes all physical money such as coins and currency; it also includes demand deposits, which are checking accounts, and Negotiable Order of Withdrawal (NOW) Accounts.

Definition of 'M2'

A category within the money supply that includes M1 in addition to all time-related deposits, savings deposits, and non-institutional money-market funds.

Hope this helps

Ooops, I didn't see tigerstripe's post

They have been moving forward quite well the past two years.....they still however lack the stability needed to gain confidence in the dinar and its value....and of course the elephant in the room with the inflated money supply....those things need to be addressed first....

«Central will be obliged to issue a block additional cash during the current year, due to the increased size of the budget, and this means insurance reserves an additional hard currency, which is normal with overall economic growth of the country».

Read more:

And they are apparently prepared to feed that elephant......

Edited January 9, 2012 by MrFnHappy

[keepmwlknfny]

And they are apparently prepared to feed that elephant......

Wow....you know what I didnt even catch that when I read it.....and people wonder how/why the money supply could possibly be getting bigger when they are supposedly "removing them from circulation"......

They are doing nothing but making it worse.....

[MrFnHappy]

Wow....you know what I didnt even catch that when I read it.....and people wonder how/why the money supply could possibly be getting bigger when they are supposedly "removing them from circulation"......

They are doing nothing but making it worse.....

Which, unfortunately, only strengthens the idea that they will RD rather than RV. Any increase in in circulation prior to a RD is inconsequential (in terms of a liability) compared to an increase in circulation prior to a RV. Within reason, it would seem they aren't worried about circulation. Don't know about you, but that worry's me.....

[keepmwlknfny]

Which, unfortunately, only strengthens the idea that they will RD rather than RV. Any increase in in circulation prior to a RD is inconsequential (in terms of a liability) compared to an increase in circulation prior to a RV. Within reason, it would seem they aren't worried about circulation. Don't know about you, but that worry's me.....

Yea its not exactly what Im wanting to hear!

[MrFnHappy]

Yea its not exactly what Im wanting to hear!

That, my friend, is what is known as an understatement.

[Stryker365]

We will hopefully see soon boys and girls but it is funny to me how people say its going to LOP, then say its not exactly what Im wanting to hear!....then they both laugh about it.....hence the..

By the way their wrong IMO, the CBI is not lying but their not telling us everything either. GO RV

Edited January 9, 2012 by Stryker365

[unirod]

Is the 33 trillion based on dinar or a combo of dinar and USD (calculated in dinar at 1170-1)......? They do not differentiate in their M0-M1.

This would make a big deference and its very possible it is mostly in USD being that it is what is being used every day. IMO.

Stryker,

I have poured over this article and I am with you on your assumptions. 33 Trillion Dinar / by 1170 gives us aprox. $2.8 trillion USD. Back in december we had an article that stated there was approx 4 trillion dinar in Iraq circulation traded in their local markets. I believe that in translation we lose the cross over from USD to Dinar. if this confusion is intentional I'm not sure. But it does seem likely. And from 2004 to currently there has been an increase in the amount of Dinar in circulation. But I don't believe the article is saying that they are currently increasing massive amounts of Dinar into the market. This would defeat the intention to increase the value of the Dinar against the USD........IMO

[lotsofdinar]

$28 billion

[Carrello]

We will hopefully see soon boys and girls but it is funny to me how people say its going to LOP, then say its not exactly what Im wanting to hear!....then they both laugh about it.....hence the..

By the way their wrong IMO, the CBI is not lying but their not telling us everything either. GO RV

Go Stryker!

[onerighthand]

Thanks for the post

There is an element in there somewhere

Go RV

[unirod]

$28 billion

OOP'S I was off a little. This article is still in conflict with the december article from the CBI that stated 4 trillion ( currency ) in circulation. Wish someone could dig it up and post it...

[VanessaL4100]

Bump