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

Originally Posted by shotgunsusie

thats fine, im used to being on my own with these things and i can more than handle it. lol

Hey Girl, I'm with you for $1.20 or better. I have resorted to lurking lately with all the bickering going on here but looks like Neno smoothed the road so I will be back to posting heavily again. Come on reval before Christmas....

Originally Posted by shotgunsusie

thats fine, im used to being on my own with these things and i can more than handle it. lol

awwwe, your never on your own girlie

Talked to this guy on pm, a good lad, he's happy for me to post this here, am trying to get him over here, talks a lot of sense.


Possibly, but even fabricated stories in Newspapers are based on fact. Here in the U.K. they aren't allowed to fabricate stories (generally) and many press releases have been subjected to litigation for being inaccurate. Come on, an article like this without it actually happening is going to promote a huge amount of buying on the part of MORE SMALLER investors to snap up some while they can. They want to remove higher denominations in order to introduce the smaller ones which seems a bit self-defeating really. Normally you'd promote a high exchange rate happening at a much later date to get some people fed up that they cash in at a lower value and thereby remove some of the cash from circulation.

This is NOT a Google translation, this is a PROPER news article translated and posted on a PROPER news website in both English and Arabic. I have read some of the articles on that Iraqi news site and they seem to be fairly accurate. I would agree with you if this was some Google translation it could be complete rubbish (garbage) but it is NOT and anybody who has any understanding of the English language can see it is grammatically correct, concise and CORRECTLY punctuated as well as having the original Arabic for reference.

Let's look at a few facts here. An article pertained to report that 2007 would see a HUGE/VERY LARGE (and the translation was confirmed by two Arab speakers associated with someone here on IIF) which was rapidly followed by articles only suggesting a 13% rise which in itself would not address the social/economic problems faced by the people ON THE STREET or cover the huge budget they intend to introduce for 2007. Then suddenly in the evening (here) when the CBI is closed and everyone has gone home from the European money markets this article suddenly crops up. You maintain that articles published may be designed to mislead. The question is which ones are misleading and which ones are not?

If you are attempting to inspire a people (the Iraqis) to have confidence in the Dinar how the hell are you going to that if (and this is how it has been so far) you keep telling them the Dinar is going to have a HUGE INCREASE and there will be REVOLUTION IN THE ECONOMY and then to say, oh but it's only going to be a 13% increase followed by a slow crawl again whilst inflation increases goods and services at around 7% per month. Then to follow with an article that says IQD10,000 is going to be around $6,600 and then it turns out to be not true. You HONESTLY believe the Iraqis are not going to be scrambling to get the Dollars back???

They are already a people on the brink of a social abyss and you think they don't have Internet access to read this stuff (Even dictatorships have Internet access although restricted e.g. China). They would be extremely hacked off with being messed about....And believe me (and history has shown it) people are only going to take so much even from Goverments....

Well Susie, I thought you would comment on my OTHER post twenty pages back where it was stated that the investment law is a copy of Jordan's law.

I was read a theory on another forum that makes alot of sense. Small denominations aren't even needed after we get the .66- 1.20 we are expecting. Why not just use the USD and as they come into the banks they will be replaced at a later date with 1, 5, 10, and 20 dinar notes. This may be why we haven't even heard a leak about these denominations being seen yet. Also this would have been another way for the CBI to curb speculation about a coming revaluation. No small denoms , no problem . We'll just use the greenback!

Originally Posted by texaslonghorns

I was read a theory on another forum that makes alot of sense. Small denominations aren't even needed after we get the .66- 1.20 we are expecting. Why not just use the USD and as they come into the banks they will be replaced at a later date with 1, 5, 10, and 20 dinar notes. This may be why we haven't even heard a leak about these denominations being seen yet. Also this would have been another way for the CBI to curb speculation about a coming revaluation. No small denoms , no problem . We'll just use the greenback!

This theory would have be quick because if they are trying to dedollarize, this would defeat their purpose.

Originally Posted by Adster

Just phoned Azzaman in London. Not very helpful! Was aware of the 10k loans, and when I said but that's not right, it isn't $6,600 she said well all our articles are checked thoroughly........

Either way I cannot see them giving out loans for $6.60.

Let's see...

Assuming a 60-month term on a $6.60 loan. (10,000 dinars)

$6.60 / 60 = $0.11 principal (166.66 dinars)

I wonder what the monthly interest would be on an $0.11 monthly installment? Can I pay that by personal check?

Originally Posted by Mike5200

Well Susie, I thought you would comment on my OTHER post twenty pages back where it was stated that the investment law is a copy of Jordan's law.

Very similar also is Qatar

http://www.rolclub.com/iraqi-dinar-d...tml#post143388

Remember this too...

"The spokesman noted that the launching of the issuance of new categories of the Iraqi currency into circulation depends on the requirements of the Iraqi economy to meet the expenses of the state in the coming stage..."

Originally Posted by texaslonghorns

I was read a theory on another forum that makes alot of sense. Small denominations aren't even needed after we get the .66- 1.20 we are expecting. Why not just use the USD and as they come into the banks they will be replaced at a later date with 1, 5, 10, and 20 dinar notes. This may be why we haven't even heard a leak about these denominations being seen yet. Also this would have been another way for the CBI to curb speculation about a coming revaluation. No small denoms , no problem . We'll just use the greenback!

Violates some dual currency rules imposed by the IMF.