Thread: Iraq/Dinar News. 09/05 to 01/14/07

http://www.bloomberg.com/apps/news?p...OJIsE&refer=us

http://markets.usatoday.com/custom/u...ncy.asp?more=1

Now why would all these organisations/companies be 'tracking' the dinar? Would they do it for the sake if it?

This baby is going to hit one day soon.

Hey Adster. All these companies that have the dinar listed, Are the actually trading the dinar or just listing it in preparation for trade? Another question I have, if you can help me with this, Who said they are going to revalue it anyway? Simple questions from a simple mind, I guess. If you find the time please help me out with this. Thanks Rolbuddy.

Yes i would like an explanation about the revalue if anyone can please.
as i can't understand how they can do it won't it just make all the iraqi with there 25,000 dinar notes rich...

or am i missing something here my simple mind


Tony

Originally Posted by mogo

Yes i would like an explanation about the revalue if anyone can please.
as i can't understand how they can do it won't it just make all the iraqi with there 25,000 dinar notes rich...

or am i missing something here my simple mind


Tony

It won't make them rich...becausee they live there and use the dinar...so if something costs, say 10 dinars, it will still cost the same. It's only when you EXCHANGE it for another currency that it will make you rich!

It's like the dollar...for you guys in the US, you don't notice how it fluctuates...but we internet freaks from other countries sometimes have to plan WHEN to add, or withdraw, from the internet depending on the dollar rate... (not that I ever plan... )
(this is what I believe - please correct me if I'm wrong)

On another note: I told my brother about the dinars (he is not inte ANY investing on the net) and he was interested...but I talked to him yesterday, and then he had talked to an aquaitance (sp?) who manages a LOT of money for a very big company here...His friend had heard about the dinar but didn't believe in it, because he thought that Iraq would rather adapt the Arabic dinar...
What is your opinion on this statement?
Karin

Originally Posted by mogo

Yes i would like an explanation about the revalue if anyone can please.
as i can't understand how they can do it won't it just make all the iraqi with there 25,000 dinar notes rich...

or am i missing something here my simple mind


Tony

Good question,

You have to look at it from a personal view point, as if you were in Iraq to understand. So since this is not possible for most, just think of what would happen in your own country, if your currency was revalued. As example, since high fuel prices are on most peoples minds lately, let us take this as an example.

OK, say your fuel costs $3.00 per gallon and you have $3.00 in your pocket. Now say the value of the dollar doubles to $6.00. What do you think will happen, the gas will go to $6.00, and on and on it goes. Only if you were to exchange your dollar with another currency is there an impact which is what the FOREX markets count on, this spread.

So in the case of Iraq, the fuel price subsidies have already started to be removed, and fuel is up four times what it was already in Iraq. Once peg is set, then these prices will stablize with whatever value is placed on new dinar, so it will take the sting out of eliminating subsidies, so the ball is already rolling towards the ultimate revalue, so all we have to do is wait, and we are all good at that, right? LOL

Good luck to all, Mike

Originally Posted by karinc

It won't make them rich...becausee they live there and use the dinar...so if something costs, say 10 dinars, it will still cost the same. It's only when you EXCHANGE it for another currency that it will make you rich!

It's like the dollar...for you guys in the US, you don't notice how it fluctuates...but we internet freaks from other countries sometimes have to plan WHEN to add, or withdraw, from the internet depending on the dollar rate... (not that I ever plan... )
(this is what I believe - please correct me if I'm wrong)

On another note: I told my brother about the dinars (he is not inte ANY investing on the net) and he was interested...but I talked to him yesterday, and then he had talked to an aquaitance (sp?) who manages a LOT of money for a very big company here...His friend had heard about the dinar but didn't believe in it, because he thought that Iraq would rather adapt the Arabic dinar...
What is your opinion on this statement?
Karin

Interesting,

Yes, you are correct, a revalue adjusts within the borders, but not for those exchanging with other currencies, this is where FOREX comes into play, but those in Iraq are not looking at FOREX, they are looking at fuel prices, food, etc., and all these will adjust according to peg.

As to the last topic, there would be no reason one country would want to adopt another countries currency since each are independent of each other, and the value of currency is different and with such a unique situation as Iraq, and the investment in the NEW dinar, it would never happen to adopt another countries currency.

If you were to take all the regional countries currency, each one is different, except for Iraq which is currently the lowest value, hence, as it was much higher at one time, it only makes sense the peg will bring it back in line within region with all bordering countries to set up equal trade agreements, so this too is another reason revalue is essential for Iraq. Anyone who does not believe in the Iraq dinar must be clueless, so this would be the last person to ask their opinion. (g)

Good luck to all, Mike

Originally Posted by Offshore-Wealth.com

Anyone who does not believe in the Iraq dinar must be clueless, so this would be the last person to ask their opinion. (g)

Hey Mike, no offense taken, after all, I chose the ID myself, nobody else to blame.

And I do believe in the NID, have a nice stack of 25k bills safely waiting.

Thanks for all of your insightful and courteous posts.

thanks for the ansers rolbuds .Now, its not being sold on the $$$$$$ market ,is it ???? this is the peg we are wating for ,right????

By Arabic Dinar, the guy may be thinking of the GCC currency slated for on or about 2010. That would hinge on Iraq entering the GCC, which is very likely. However, Iraq will have to have a convertable currency in place for that too, so is a moot point.