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

Originally Posted by clueless

Hello again you all,

I feel like I need to restate my concerns about the idea of holding a large percentage of dinar after a significan reval. I guess that I feel so strongly about this becuase I made a somewhat similar choice back in the late 90s, ignored common wisdom about diversification and let a very big piece of my net worth ride in a single place.

I had been very fortunate in my career and had a little more than a half million in my 401k account. I had found an investment that had really done great for me with those funds and had gone "all in" and was letting it ride.

In fact I retired from my job and was living on "early withrawals" from that retirement account. The market crashed and I was not smart enough to get out early. In fact I started using credit for my living expenses.

Then 9/11 happened and my account was completely worthless and I was left with a substantial amount of credit card debt and no income. I was lucky to find another good job but it will take me years to get back out of debt if this dinar deal does not work out.

So, today, when the dinar is worth so very little. I doubt that any of us have a very big portion of our net worth invested in it. BUT, after a reval, it will probably be a VERY BIG piece of our net worth. Right?

I will hold some dinar after a reval, but certainly not a very big amount. I will diversify. OK, end of lecture.. thanks for listening.

Your view is very much appreciated. Not seen as a lecture at all, but a post stemming from experience. Thank you.

Monica

All right...look. I found this over on IIF...not quite sure what to make of it...where exactly it came from...no link to an article or anything...here it is...

Latest news on Dinar
The CBI raised the rate of Dinar by 50% today (Sunday, there). I was told this last Wed.afternoon. We get the info about two days before something is going to happen.
This source is always quite reliable.
This source is now saying the peg is going to be in 3 weeks and that it will be 1NID to $1.10 to $1.12 U.S. Dollar.

No promises here, but this could be the real deal.


Mike...Adster...someone? It's over in the 'Zero lopping only on exchange' thread....

By the way...I'm not the one that needs the defib machine...it's Choochie! loL! I'm wound so tight right now there ain't no way I'm gonna pass out and MISS SOMETHING!!! loL!

Sorry Tif, Me too! I may have to zap myself! Hey Choochie, I know CPR so we won't have to use the zapper. Of course I could be too drunk to count!

Originally Posted by Treater

I have thought about this, and I am kinda unsure what I will do if it revals at a decent rate of $.50 to $1.00 or above. Man, just to see it rv will be amazing. The decision to hang on to some is the one thing I am not sure of. I wonder what risks might be involved in holding out. I guess it depends a lot on whether it's pegged at RV, or allowed to float also.

Hey tweater, I would say yeah it will be hard. But it will revalue at .68 first maybe more. Cash enought then to get out of debt. then when it goes to the dollar run around and avoid taxes and cash in some more for savings are for investments. Remember the governments "Goal" is to get back to where it once was at 3.4:1 So in a short time it will just keep rising, slowly or fast I dont know that. But I dont know that if I can not save for that day it will be wonderful to have accomplished that too. With the little that I have. Shoot when may even split it more like at 1.5:1 then some more at 2:1 then if there is any left wait for 2.5:1 and might even make ut to 3:1 I seriouslly dault I will make it to 3.4:1 Will be a stradegy thow.

NEW IRAQI 1 DINAR NOTE IS READY FOR REVALUE.............

Ok Mike, you made the whole thread all laugh out loud. But Hey, it does make sense.

Originally Posted by Treater

I have thought about this, and I am kinda unsure what I will do if it revals at a decent rate of $.50 to $1.00 or above. Man, just to see it rv will be amazing. The decision to hang on to some is the one thing I am not sure of. I wonder what risks might be involved in holding out. I guess it depends a lot on whether it's pegged at RV, or allowed to float also.

Interesting,

The concept of holding is a lesson I learned with Kuwaiti dinar, it rose slowly up up up and away, and I do believe with what we are now hearing, this will do the same, if not faster. There is no risk in holding, so all we have to do is watch the economy in Iraq, and as we are all experts in digging in behind the scenes, we will know what to do and it will be posted here, so don't worry, just hand onto what you don't need for immediate debt or other dire needs.

It will rise quickly as the flood gates of international investors flock to the oil like flies on $hit. (g) They are already lining up, and as I have mentioned, investors are already pumping dollars and equipment into the Kurdish region for over a year, and now with investment guarantees we have read about, the Kurds are one step ahead of Baghdad. Use this as the model of what will be happening, so when Iraq's oil exports hits 10M barrels, we are off to the races.

Good luck to all, Mike

Originally Posted by tiffany

Why isn't my banana dancing??? He better get in line with the others or I'm gonna delete him!

maybe he doesn't have enough sex apeel.

******** i think the post that cigarman wrote a few pages back about the arab states forgiving the iraqi debt is a huge step *************** but there was no newslink with that post. cigarman do you have a link???? mike have you heard about this?????????

Originally Posted by tiffany

All right...look. I found this over on IIF...not quite sure what to make of it...where exactly it came from...no link to an article or anything...here it is...

Latest news on Dinar
The CBI raised the rate of Dinar by 50% today (Sunday, there). I was told this last Wed.afternoon. We get the info about two days before something is going to happen.
This source is always quite reliable.
This source is now saying the peg is going to be in 3 weeks and that it will be 1NID to $1.10 to $1.12 U.S. Dollar.

No promises here, but this could be the real deal.


Mike...Adster...someone? It's over in the 'Zero lopping only on exchange' thread....

By the way...I'm not the one that needs the defib machine...it's Choochie! loL! I'm wound so tight right now there ain't no way I'm gonna pass out and MISS SOMETHING!!! loL!

The internal reval was supposed to occur on 7/1/06 and did not happen. False information. As for the peg in 3 weeks... we'll see.