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

I agree with Neno and Cigarman. I am "all in"

i am with cigarman, neno, and you flygirl, "ALL IN" hoping to hit a BIG HOME RUN..... need to get one more order in next payday.... then bring on the PEG!!!!

Originally Posted by neno

Hummmmmm, see below Iraqidinar is buying them also too. Just click this link to see. Just stroll down and see if you want to to sell. There's that "IF" tiffany is talking about. Sounds like good news to me. Reads like this below:

http://www.iraqidinars.com/

Sell us your New Iraqi Dinar!
If for whatever reason you decide you want to sell your New Iraqi Dinar, we will buy it off you!

We will buy almost any quantity from you at the current Central Bank of Iraq rate.

It doesn't matter if you did not originally purchase from us but your notes must be unmarked and uncirculated. To ensure the notes are genuine, we will pay you once we have received your notes . You can be sure we are a reputable company and so you need not worry about sending the notes to us first - check our testimonials on our website! We guarantee immediate payment on receipt of the notes after verification!

Please email us how much you want to sell us and which denomination, and we will confirm the price we are willing to pay.

Hello there Neno,

Yes, Iraqidinars.com will buy back. I believe they have always though.

They are still selling also. They are a great bunch of people that are running that site. Very easy to work with and very prompt in shipping. My last delivery made it here in 5 days and not 2 weeks.

Anyone still looking to buy, Iraqidinars.com is a great outfit. If you have questions for them before you buy just sent them an email. They answer quickly. I put their email in my signature next to Dinars.

Great success to us all.

Kozmar

I'm ready just wait for my last batch.A beautiful
batch of 250 notes come on LET IT PEG :)))

Originally Posted by kozmar

Hello there Neno,

Yes, Iraqidinars.com will buy back. I believe they have always though.

They are still selling also. They are a great bunch of people that are running that site. Very easy to work with and very prompt in shipping. My last delivery made it here in 5 days and not 2 weeks.

Anyone still looking to buy, Iraqidinars.com is a great outfit. If you have questions for them before you buy just sent them an email. They answer quickly. I put their email in my signature next to Dinars.

Great success to us all.

Kozmar

I believe some are taking me wrong. I was pointing this out about the dealers are willing to start buying back. I am saying that is a good sign by they are maybe having a rough time getting stock and using stardegies to still earn them selves. Buy back low and sell high to newer people or as the demand gets more and more on the supply. No I am in for the third ideal at a time. With the first third at the first peg. Just enough to get out of debt. And alittle float. hehe

Then I think of the first peg being so high that that to could be a call. Peg high get most dinar's back in the country now. I know if they peg at over a USD, 70% to 80% will cash all out. This in my opinion is what they want. With the major holders (the Countries) having to wait for a period of 5 years and this happening, it is a no brainer to me. But Hey I might be Stupid or way off note to others. It is just my opinion.

Ali Mahmoud al-Fakiki Al-Hayat - 11/07/06//

Today, the US dollar corresponds to 5.7 Egyptian pounds and 116 Japanese yen. Can we say that the Egyptian pound is stronger than the Japanese yen, and that the Egyptian economy is stronger than the Japanese economy since the number of Egyptian monetary units required for purchasing one dollar is less than the required number of Japanese units?

Successive Iraqi governments have adopted the slogan of 'Improving the Iraqi dinar exchange rate', as if they were promising Iraqis the key to 'Ali Baba's Cave'. This slogan was the 'promise' given by the governments of Dr. Iyad Allawi and Ibrahim Jaafari, among the priorities of their economic agendas. Today, Nouri al-Malki's government is doing the same thing. Saddam Hussein and his son, Odai, had also previously made such promises.

According to the statements of Bayan Jabr Al-Zubeidi, the Iraqi Minister of Finance on June 26, 2006, to 'Al-Sabah' newspaper, published in Baghdad, the government intends to remove three zeroes of the dinar to make it equivalent to the dollar. Thus, we may conclude that the planned process will be nothing but currency exchange, which neither revaluates nor devaluates the dinar.

It is estimated that the ratio of replacement will be 1500 of the current dinar for one new dinar. Accordingly, if an employee currently earns 150 thousand dinars, he will be paid 100 new dinars (unless the salary brackets are changed). This will be equivalent to 100 dollars. Thus, the exchange rate of one dinar is equal to one dollar. For example, the current price of one kilo of mutton, which is 8000 dinars, will accordingly be around 5.33 new dinars.

The monthly salary of 150 thousand dinars currently buys 18.75 kilograms of mutton in Baghdad. When the dollar exchange rate is equal to the dinar, according to the new process, the monthly salary of 100 new dinars (equivalent to 150 thousand of the current dinar) will also buy 18.75 kilograms of mutton. This means that the salary will have the same purchasing power of the current salary of 150 thousand dinars.
Hence, the proposed or planned process is simply an illusion, just like changing daylight saving time. It is all the same, whether the clock was moved an hour ahead or the formal working hours were increased. Thus, the proposed process of equating the US and Iraqi exchange rate should not be celebrated. Many third world countries, like Turkey in the 1980s, applied this policy.

It is well known that the Iraqi dinar is a local, not a global, currency. It will remain the same both in the foreseeable and distant future. The country's import capacity, the consumption levels, and the welfare of the Iraqi individual, all depend on the circumstances of oil exports and the policies and methods of handling them. It is also known that about 99% of foreign exchange revenues in Iraq are petro-dollar revenues, since oil prices are paid in dollars and have nothing to do with dinars.

If the Iraqi economy and currency were like the Japanese economy and currency, for example, the foreign exchange rate would have a significance that would render it a source of a serious commercial intensification. This happened between the US and Japan, and later between the US and Germany, throughout the 1970s and the first half of the 1980s. The Japanese yen went down against the US dollar, becoming a protective measure for the Japanese industry. The move hindered the flow of American products to the Japanese market, weakening their competitiveness. It facilitated the flow of Japanese products to the American market and strengthened the competitiveness of Japanese companies in that market.

The exchange rate against the dollar in the 1970s and the first half of the 1980s was 230-250 yen. However, the continued pressures of US President Ronald Reagan on Japan and Germany in the annual conferences of the Big Seven (it did not yet include Russia), and in other conferences, led Japan to almost double the value of the yen through monitory procedures. The value of the yen was raised from the level of 230-250 yen against the dollar to the level of 120-110 yen from the second half of the 1990s.

In brief, the value of the dinar against the dollar differs in several aspects from its value against global currencies. This is just a formal issue of no use, and that is not to be celebrated.

Today Iraqis are looking forward to more important issues, including the following:

First: Macroeconomics

1 - Lowering the unemployment rate to 2-3% along with an effective system of unemployment compensation and insurance. The unemployment rate today is 18%, while pseudo-labor is about 31%, according to the Ministry of Planning.
2 - Lowering the inflation rate to 2-3%, compared to the current 20-30%, most of which is due to inflation resulting from high prices.
3 - Continuous improvement on the standard of living by 20-30% annually, with a significant rise in the living standards of the marginalized populations.
4 - A spending policy which compensates for poor territories and geographical areas that have been suffering inequity and deprivation during 80 years of feudal, nationalist and Baathist rules.

Second: Microeconomics

1 - Handling the accumulated deficit in the housing sector. There is a need to build 300-320 thousand housing units per year over the next ten years. The annual rate of achievement for the year 2004 and 2005 was around 15% of this figure. It is not expected that the rate of achievement for this year will exceed the rates of both years. There is an economic slogan that goes: 'Success of construction guarantees overall success'.
2 - Handling the accumulated deficit in the road sector. The density of roads in Iraq is expressed by the total length of the roads, divided by the area of the country. It is among the lowest densities in the world (only 0.09). The rate in Thailand is 0.14, in Brazil 0.24, in Korea 0.85, and in Japan 2.04 or approximately 34 times the rate of Iraq. There is a need to establish main and secondary roads amounting to 8-10 thousand kilometers per year, over ten years. Moreover, there is a need to repair and rehabilitate the current debilitating road network. The current rate of achievement is about 10% of the required rate.

If the state meets these important demands among others, we should not be concerned about the rise of the exchange rate of the dinar to be the equivalent of the dollar or leaving it at its current state.

*Mr. Ali Mahmoud al-Fakiki is an Iraqi economic expert

http://english.daralhayat.com/busine...af4/story.html

Interesting,

It appears any talk about exchanging is probably for the new smaller denominations when released, so again, it seems like there are translation issues working against us. (g)

No doubt about it, when 1/4, 1/2 and 1 dinar denoms are released, there will be a mad dash to exchange current large denominations, so it all sounds logical to me. (g)

Good luck to all, Mike

Read this pargraph, he's talking of 1:1 I think

It is estimated that the ratio of replacement will be 1500 of the current dinar for one new dinar. Accordingly, if an employee currently earns 150 thousand dinars, he will be paid 100 new dinars (unless the salary brackets are changed). This will be equivalent to 100 dollars. Thus, the exchange rate of one dinar is equal to one dollar. For example, the current price of one kilo of mutton, which is 8000 dinars, will accordingly be around 5.33 new dinars.

Originally Posted by pipshurricane

I'm ready just wait for my last batch.A beautiful
batch of 250 notes come on LET IT PEG :)))

Good for you. My boys are witing too. Nice.

Originally Posted by pipshurricane

Ali Mahmoud al-Fakiki Al-Hayat - 11/07/06//

Today, the US dollar corresponds to 5.7 Egyptian pounds and 116 Japanese yen. Can we say that the Egyptian pound is stronger than the Japanese yen, and that the Egyptian economy is stronger than the Japanese economy since the number of Egyptian monetary units required for purchasing one dollar is less than the required number of Japanese units?

Successive Iraqi governments have adopted the slogan of 'Improving the Iraqi dinar exchange rate', as if they were promising Iraqis the key to 'Ali Baba's Cave'. This slogan was the 'promise' given by the governments of Dr. Iyad Allawi and Ibrahim Jaafari, among the priorities of their economic agendas. Today, Nouri al-Malki's government is doing the same thing. Saddam Hussein and his son, Odai, had also previously made such promises.

According to the statements of Bayan Jabr Al-Zubeidi, the Iraqi Minister of Finance on June 26, 2006, to 'Al-Sabah' newspaper, published in Baghdad, the government intends to remove three zeroes of the dinar to make it equivalent to the dollar. Thus, we may conclude that the planned process will be nothing but currency exchange, which neither revaluates nor devaluates the dinar.

It is estimated that the ratio of replacement will be 1500 of the current dinar for one new dinar. Accordingly, if an employee currently earns 150 thousand dinars, he will be paid 100 new dinars (unless the salary brackets are changed). This will be equivalent to 100 dollars. Thus, the exchange rate of one dinar is equal to one dollar. For example, the current price of one kilo of mutton, which is 8000 dinars, will accordingly be around 5.33 new dinars.

The monthly salary of 150 thousand dinars currently buys 18.75 kilograms of mutton in Baghdad. When the dollar exchange rate is equal to the dinar, according to the new process, the monthly salary of 100 new dinars (equivalent to 150 thousand of the current dinar) will also buy 18.75 kilograms of mutton. This means that the salary will have the same purchasing power of the current salary of 150 thousand dinars.
Hence, the proposed or planned process is simply an illusion, just like changing daylight saving time. It is all the same, whether the clock was moved an hour ahead or the formal working hours were increased. Thus, the proposed process of equating the US and Iraqi exchange rate should not be celebrated. Many third world countries, like Turkey in the 1980s, applied this policy.

It is well known that the Iraqi dinar is a local, not a global, currency. It will remain the same both in the foreseeable and distant future. The country's import capacity, the consumption levels, and the welfare of the Iraqi individual, all depend on the circumstances of oil exports and the policies and methods of handling them. It is also known that about 99% of foreign exchange revenues in Iraq are petro-dollar revenues, since oil prices are paid in dollars and have nothing to do with dinars.

If the Iraqi economy and currency were like the Japanese economy and currency, for example, the foreign exchange rate would have a significance that would render it a source of a serious commercial intensification. This happened between the US and Japan, and later between the US and Germany, throughout the 1970s and the first half of the 1980s. The Japanese yen went down against the US dollar, becoming a protective measure for the Japanese industry. The move hindered the flow of American products to the Japanese market, weakening their competitiveness. It facilitated the flow of Japanese products to the American market and strengthened the competitiveness of Japanese companies in that market.

The exchange rate against the dollar in the 1970s and the first half of the 1980s was 230-250 yen. However, the continued pressures of US President Ronald Reagan on Japan and Germany in the annual conferences of the Big Seven (it did not yet include Russia), and in other conferences, led Japan to almost double the value of the yen through monitory procedures. The value of the yen was raised from the level of 230-250 yen against the dollar to the level of 120-110 yen from the second half of the 1990s.

In brief, the value of the dinar against the dollar differs in several aspects from its value against global currencies. This is just a formal issue of no use, and that is not to be celebrated.

Today Iraqis are looking forward to more important issues, including the following:

First: Macroeconomics

1 - Lowering the unemployment rate to 2-3% along with an effective system of unemployment compensation and insurance. The unemployment rate today is 18%, while pseudo-labor is about 31%, according to the Ministry of Planning.
2 - Lowering the inflation rate to 2-3%, compared to the current 20-30%, most of which is due to inflation resulting from high prices.
3 - Continuous improvement on the standard of living by 20-30% annually, with a significant rise in the living standards of the marginalized populations.
4 - A spending policy which compensates for poor territories and geographical areas that have been suffering inequity and deprivation during 80 years of feudal, nationalist and Baathist rules.

Second: Microeconomics

1 - Handling the accumulated deficit in the housing sector. There is a need to build 300-320 thousand housing units per year over the next ten years. The annual rate of achievement for the year 2004 and 2005 was around 15% of this figure. It is not expected that the rate of achievement for this year will exceed the rates of both years. There is an economic slogan that goes: 'Success of construction guarantees overall success'.
2 - Handling the accumulated deficit in the road sector. The density of roads in Iraq is expressed by the total length of the roads, divided by the area of the country. It is among the lowest densities in the world (only 0.09). The rate in Thailand is 0.14, in Brazil 0.24, in Korea 0.85, and in Japan 2.04 or approximately 34 times the rate of Iraq. There is a need to establish main and secondary roads amounting to 8-10 thousand kilometers per year, over ten years. Moreover, there is a need to repair and rehabilitate the current debilitating road network. The current rate of achievement is about 10% of the required rate.

If the state meets these important demands among others, we should not be concerned about the rise of the exchange rate of the dinar to be the equivalent of the dollar or leaving it at its current state.

*Mr. Ali Mahmoud al-Fakiki is an Iraqi economic expert

http://english.daralhayat.com/busine...af4/story.html

Am I reading this right? Is this saying that the value of the dinar will only change for iraqi's and not the rest of the world? I'm very confused!(doesn't take much)