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

I dont think their is anything to worrie about {recall the 25k notes], as most of you are aware, you cannot go to a bank and get a 10,000 US bill. But that does not mean that they are not cashable

I don't know the answer for this but someone posted on IIF today that they saw a report dated in 04, that stated they had 1,5,10 dinar planned so it tells me 1 to 1 exchange rate. They also mentioned something printed on the 25k note that's there so the report was real.

Originally Posted by donald1439

Iam not sure,but from what i could understand that they would take the 25 notes off the market when they wanted at what rate they wanted.Please forgive me if i am wrong i am just a common man who is just looking for a brighter future for his family and dont pretend to be some wise investor as a matter of fact i am just learning how to use a computer in case u couldnt tell.

The way they will take them off the market is once the come in they wont go back out. I walk into the bank with 100 25k notes. The deposit the amount they are worth into my account and then sell them back to Iraq.

Iraq buys the dinar back and credits their account and the 25k notes never see the light of day again.

Originally Posted by Inscrutable

I must disagree. If a re-evaluation were to occur at .05, market forces would put a demand on the dinar that would make it near impossible for the CBI to remove any pool of currency cheaply, anyone who deals with even basic economics would understand this.
In my opinion, I think you may need to re-read what you are stating.

Good point.

We all can speculate on the amount but I still believe it has to be much higher than the 0.05

We know the prewar rate was much higher with having debts and damaged oil production. Going back to the pre-war rate is the minimum that they must do and more in my opinion.

The world and Iraq knows that they have gold under their feed. The Kurds are business people they know there is more in it for them they don't accept shiite.

The oil production right now is at pre-war level or almost. Next years it is going to increase rapidly.

We know that the oil revenue will be distributed to the people of iraq and that they will benfit from it. They will do this by having a good exchange rate = valuable money = purchasing power.

In my opinion 0.05 isn't an option. It's just an opinion!

Originally Posted by donald1439

Iam not sure,but from what i could understand that they would take the 25 notes off the market when they wanted at what rate they wanted.Please forgive me if i am wrong i am just a common man who is just looking for a brighter future for his family and dont pretend to be some wise investor as a matter of fact i am just learning how to use a computer in case u couldnt tell.

Don't get yourselves into a frazzle re: the larger notes . . .

Unless they *change & reprint* [which everyone here believes they WILL NOT due], they will always be good . . .

In 1978 We found a bunch of Post WW2 D-Marks after my Father passed away . . . this included many large denominations . . .

We decided to take them to Germany [W. Germany @ that time], and they fiddled around for a couple days verifying them / & then handed us a Cashiers Check in US$. . .

As of 3PM [EST], NO 10K YET . . . and talk on the streets included no mention of it . . . lately . . . as far as we've been able to detect . . .

Best to all . . . RR . . .

Originally Posted by Lunar

I noticed that CBI has switched to using Central Bank of Iraq, al Rasheed Street, Iraq as the listed owner on their server but the server location is still listed as in the USA (cbiraq.org)

Wasn't that where the car bomb was set off yesterday?
I saw it on Sky News and thought the name seemed familiar.

Originally Posted by RollsRoyce

Don't get yourselves into a frazzle, re: the larger notes . . .

Unless they *change & reprint* [which everyone here believes they WILL NOT do], they will always be good . . .

In 1978 We found a bunch of Post WW2 D-Marks after my Father passed away . . . this included many large denominations . . .

We decided to take them to Germany [W. Germany @ that time], and they fiddled around for a couple days verifying them & then handed us a Cashiers Check in US$. . .

As of 3PM [EST], NO 10K YET . . . and talk on the streets included no mention of it . . . lately . . . as far as we've been able to detect . . .

Best to all . . . RR . . .

Thx for your post RR...

Stipend? I presume that the powers to be in Iraq are seriously scratching their heads on this one due to how worthless the stipend would be without a serious & market compatible adjustment to the IQD's value. Not to mention that they also need to make it happen in order to successfully enter the world's financial stage.

Keeping the stipend's worth at a "Number One Value Meal" rate from McDonald's is beyond useless & completely absurd...

Originally Posted by Wm.Knowles

I would like to respond to a question I received as a PM. What is your idea about the RV rate and do they (CBI) know about all of us that have invested in dinar?
In thinking about these questions I remembered that while in the securities business I witnessed many bankers selling their bonds with only slight increases in appreciation. I learned that economic behavior changes at different price levels. What this means to us is the fact that the CBI is caught between two forces. Pressure to increase the purchasing power of the dinar for the Iraqi people and still be able to purchase dinar from the economy (especially outside of Iraq) and retire as much of the outsanding dinar as possible as cheaply as possible. I think we might want to adjust our thinking about what a reevaluation truly is. Up until now many of us have been considering a reevaluation as singular event. Lets start the discussion that an RV is a process. A process where the CBI (who knows their is an abundance of currency outside of Iraq) will attempt an initial RV that will satisfy both the increase in purchasing power, but low enough to retreive/remove as much currency from the outside investors as possible. If I was the President of the CBI, Why would I instantly RV at double digits when I can pobably remove a "big bunch" of dinar and only pay a single digit figure? As the President, I can always raise the exchange rate figure. So, how many of you would sell a million dinar if the initial RV was only .05 cents? Why should I pay more? While I think the future for this investment is exceptional, I think we are obligated to explore the possibilities so as to be prepared. Once there is an RV, expect them to turn their attention to the investors on the outside and remove as much of that pool of currency as cheaply as possible. Hate to sound cynical, but bankers are not social workers and their perception is strickly on the money.

Mr. Knowles-does this mean that it wouldn't go onto the Foreign Exchange Market? If it did go, then do you think it would stay at that value for long? If it didn't go, then what about the large companies buying large amounts of dinars and accumulating vast sums to use in Iraq? Am I missing something? and, yes I am a social worker and know nil about interntional banking and regulations. Thank you for your response.

Originally Posted by donald1439

How do you go about getting in warka and is it safe.

There is lots of info on Rolclub regarding opening a bank account, lot of us have done it and also invested in the ISX. I personally feel happy with Warka. It is Iraq remember, so whether it is safe i can't really answer that. Just dont invest more than you can afford to lose. I believe it is worth the gamble JMO.

Originally Posted by cigarman

I don't know the answer for this but someone posted on IIF today that they saw a report dated in 04, that stated they had 1,5,10 dinar planned so it tells me 1 to 1 exchange rate. They also mentioned something printed on the 25k note that's there so the report was real.

That report dose not say they have 1,5,10......It says they have a series of 14 new denominations.....Well we know there are 9 out there so that leaves 5 notes to be speculated..that is if the number 14 in the report isnt a misprint....we HOPE but its all speculation