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

Originally Posted by jsfletcher

Are you holding out on us????

In a way i guess I am, I gave my word that any information i recieve would be just between me and my fellow man, rest assure Zero Lop ain't in the cards.

SGS,
I really enjoy your posts... Keep them coming..U R positive and it makes me want to buy more dinars. Keep up the excellent work!

Easy There Funwit

Originally Posted by funwit

SGS,
I really enjoy your posts... Keep them coming..U R positive and it makes me want to buy more dinars. Keep up the excellent work!

please dont spend money that you cant afford to lose. the only thing that is certain is death.

So Will We Def See Something By The End Of The Month ???

Originally Posted by shotgunsusie

please dont spend money that you cant afford to lose. the only thing that is certain is death.

Whatś the worst case possible (within reason) if things dont go as we hope ?

Can we lose ALL our money or just part, depending on the exchange rate ?

Just a quick comment here regarding the GOI giving out 10,000 dinar to every citizen. Everyone seems to be under the impression that all of the Iraqis will immediately go out and exchange their 10,000 dinar for the equivalent amount in dollars after a reval. And, thus the CBI would have to back that exchange, which would crush the reserves of the CBI.

I don't think that is the case, simply because most people will be taking care of their own personal needs with the dinar. For example, if our government where to say tommorrow, everyone is getting a $1,000 tax refund, what do you think most people would do? Would they immediately go out and exchange that $1,000 for the equivalent amount in British pounds? No, they wouldn't. The key to this idea is equivalent value, and local behavior and standards. The majority of us wouldn't exchange to pounds because there would be no benefit to us. The amount of money wouldn't change as they would have equivalent value, plus we couldn't buy anything with it locally. While the dollar is an exchange medium locally in Iraq, if the dinar revalues to a stronger rate than the dollar most people will be inclined to keep the dinar rather than the dollar. Plus, the dinar may be seen as the local identity of exchange medium.

So, if I were an Iraqi with bills up to the roof and I received a lump sum of dinar that was the equivalent of all of those bills and could also purchase things for my daily needs and household, why would I convert to another currency? I'd be running out to my creditors and saying here is your dinar, heres your dinar, now where's my stuff (items of value recieved for my windfall). The creditors now hold the dinar at their own risk, while I got what I needed, which was day to day living and household goods.

After a reval, there is a huge upside to this as it would make the dinar the immediate trade medium throughout the country, it would stimulate growth within Iraq, and generate a lot of goodwill and faith in the new government. Anyway, just a thought.

Originally Posted by Bigslick116

In a way i guess I am, I gave my word that any information i recieve would be just between me and my fellow man, rest assure Zero Lop ain't in the cards.

That's fair. Are the investigative forces here on the right track?

Originally Posted by laurenr

Whatś the worst case possible (within reason) if things dont go as we hope ?

Can we lose ALL our money or just part, depending on the exchange rate ?

bite your tongue lauren, lol

Originally Posted by TerryTate

Just a quick comment here regarding the GOI giving out 10,000 dinar to every citizen. Everyone seems to be under the impression that all of the Iraqis will immediately go out and exchange their 10,000 dinar for the equivalent amount in dollars after a reval. And, thus the CBI would have to back that exchange, which would crush the reserves of the CBI.

I don't think that is the case, simply because most people will be taking care of their own personal needs with the dinar. For example, if our government where to say tommorrow, everyone is getting a $1,000 tax refund, what do you think most people would do? Would they immediately go out and exchange that $1,000 for the equivalent amount in British pounds? No, they wouldn't. The key to this idea is equivalent value, and local behavior and standards. The majority of us wouldn't exchange to pounds because there would be no benefit to us. The amount of money wouldn't change as they would have equivalent value, plus we couldn't buy anything with it locally. While the dollar is an exchange medium locally in Iraq, if the dinar revalues to a stronger rate than the dollar most people will be inclined to keep the dinar rather than the dollar. Plus, the dinar may be seen as the local identity of exchange medium.

So, if I were an Iraqi with bills up to the roof and I received a lump sum of dinar that was the equivalent of all of those bills and could also purchase things for my daily needs and household, why would I convert to another currency? I'd be running out to my creditors and saying here is your dinar, heres your dinar, now where's my stuff (items of value recieved for my windfall). The creditors now hold the dinar at their own risk, while I got what I needed, which was day to day living and household goods.

After a reval, there is a huge upside to this as it would make the dinar the immediate trade medium throughout the country, it would stimulate growth within Iraq, and generate a lot of goodwill and faith in the new government. Anyway, just a thought.

as soon as i seen the article i got excited because whats a sure way to improve economy? infuse money to the consumers so they can spend it!!

and to answer an earlier question, i have no clue what the new value will be but i suspect it will be more than a dollar and twenty cents to the dinar.