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

Hey Mike, are you still hearing this month?

Originally Posted by keegle

REGIONAL FX HEADLINES Thursday, July 06, 2006





Caution urged on Iraqi Dinar wonder story projections
Middle East FOREX urges a cautious approach to investing in the new Iraqi currency. Although fundamentals remain strong especially with regard to energy reserves, the current political turmoil in Iraq leads one to think which part of the country the present day Dinar will represent, the Kurdish North, the Sunni central region, or the Shia south?


Currently you can purchase Iraqi Dinar at less than 1/10th of a US Cent per Dinar. Looking back at history it is possible that the Dinar value could reach as high at $0.20 to a US Dollar.


Kuwait’s Example


The Kuwait currency devalued by the same margin in the '90's has completely rebounded. During and immediately post the 1st Gulf war the Kuwaiti Dinar was valued at about a dime after the war. It now stands at $3.40. However the fundamentals of the Kuwaiti recovery are vastly different to that of current day Iraq.


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Interesting,

This was the whole purpose to put out press releases of varied scenarios of from .68 to $3.22 dollar to dinar to test the response, and this is good news as it simply suggests caution. Well, we already new this had to be done with a degree of caution as there is no model or guide to follow, so seeing this confirms what I suspected the realeases were designed to do, illicit opinions from all who will be effected by revalue.

Good luck to all, Mike

Originally Posted by cigarman

Hey Mike, are you still hearing this month?

Yes,

We know all the pieces were put in place the end of last month, and now what we are seeing is political sematics to test the regions resolve bases on the press releases, or leaks if you will of from .68 to $3.22 dollar to dinar, and this is great news. We have seen no resistance, just a few opinions to use caution. No negatives have appeared in a week, and this will be used to determine final initial revalue which will happen this month from what I still am hearing. Sorry, I have not heard any definitive news on an increased revalue over the .30 to .40, but there does seem to be some pause while gov. waits for feedback. Think of it this way, this was the last acid test to see if there was any resistance at all to at least a 1 dinar to $1.00, so I see a little hedging going on, so we just may see it higher than originally decided upon. Sure hope so. (g)

Good luck to all, Mike

Originally Posted by readytogo

Hello Dinar Gang!

I was talking with my husband about buying more dinar and he had a question,

"How do you know that Iraq will not trash the existing dinar and make all new?"

I answered him the best I could, but could not remember all the reasons. I know this has been answered before, so could some one please direct me to the post where this was discussed?

Thank you very much cause I WANT TO BUY MORE DINAR!

Monica

Hi Monica!
To add to what has already been offered for part of the answer to your question, about 150 pages ago (guessing only LOL!!) Adster said that even if they were to print a new currency, because they urgently desire to become members of the World Trade Organization and are fervently working toward completing all the neccessary requirements, they would be forced to provide a period of time to allow for an exchange of the present currency for the theoretical "new" currency. This concept is not even being brainstormed by any of the major players involved with the decision making process- only nay-sayers who have not bothered to keep up with the plethora of news releases and opinions of those in the know of what is going on contemplate such absurd ideas as this. (No disrespect for your husband intended- my wife raised the same objection a couple of months ago! )
Blessings On YOU! AL

BAGHDAD, July 5 (Reuters) - Iraq's President Jalal Talabani urged Arab countries on Wednesday to forgive Iraq's debts, saying it was incurred under toppled leader Saddam Hussein.

"Regarding our Arab brothers, we hope they will initiate the cancellation of this debt," Talabani said in a statement in Baghdad as Prime Minister Nuri al-Maliki ended a Gulf tour.

"States that helped the dictatorship have no right to ask the democratic state that succeeded it to repay those debts."

Iraq has in the past disputed whether it should pay back much of its debt to Arab countries, most of which was incurred during the Iran-Iraq war, when Sunni Arab countries like Saudi Arabia and Kuwait funded Saddam's fight against the non-Arab, Shi'ite Islamic republic of Iran.

Gulf Arab states are owed about $40 billion by Iraq -- with the bulk of the debt owed to Saudi Arabia and Kuwait.

Iraq's main Western creditors grouped in the Paris Club of wealthy nations agreed in November 2004 to cancel 80 percent of Baghdad's debt to them in three steps over four years.

http://www.alertnet.org/thenews/newsdesk/IBO568878.htm

Finally, I've finished catching up on all your post. You guys were posting faster than I could read. All great post. I'm very glad to be associated with this group. You guys are great.

Originally Posted by readytogo

Hello Dinar Gang!

I was talking with my husband about buying more dinar and he had a question,

"How do you know that Iraq will not trash the existing dinar and make all new?"

I answered him the best I could, but could not remember all the reasons. I know this has been answered before, so could some one please direct me to the post where this was discussed?

Thank you very much cause I WANT TO BUY MORE DINAR!

Monica

Hey Monica,

The only thing that could seriously cause a new dinar to be printed would be for a full blown civil war to break out in Iraq and the winning islamist whacko leader would want his ugly mug on the dinar like Saddam did!! So, not likely in my opinion. So tell hubby that he can rest easy and get back to taking good care of his lovely wife!!

danny

Hi Orrkallen and Danny,

Thanks for your responses. I do agree. My husband is a little reluctant to get too excited and is looking for every reason not to in hopes he will find more reason to get excited. We have dove into other ventures and were sorely disappointed and he is a bit shy.

But I am an all or nothing kinda gal, so let's go all out and just BELIEVE!

And BTW, all of your responses have put his doubt to rest. Thanks again.

And Danny, thanks for the lovely compliment. It made me smile.

Monica

Just a question,
Bruce's dinar site offers "collectible" notes and coins from the Saddam era, and seems to indicate that these will be worth something someday. Is that true?

Adster check this out.

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Almost there.