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

Just an opionion here ... many foreign currencies are "floating" and we have never had any strong indication that they would choose to "peg" the dinar. We have been waiting for two things (again IMO), a reval and FOREX trading of the dinar. After it is trading on FOREX it will soon (less than a month IMO) be exchangable at most banks with foreign currency departments.

Remember, most here have been talking about holding and waiting for a higher value in the next few months. That implies a floating and tradable currency, not a pegged currency.

Everyone calm down it will get done. I still think this weekend or first of next week. Too much going on and to much changing for it not to. CBI website changed, banks are closed, troops in position, lots of meetings happened. Need I say more.

How can Foreign investors consider it a good investment if it didn't peg?
sorry I'm really missing something here...

Time for me to be gone for a few hours... hopefully when I come back this will make more sense to me... cigarman ok... I want to believe your logic will be true.. guess we will know soon enough ... Mike I really value your thoughs on this too... hope you will elaborate more when you can...

Originally Posted by ezcash

So Mike please elaborate on this.. my head is swimming.. are you saying we are waiting for the reval right now ... hopefully to happen soon.. say this month some time...but until it pegs we will not all be able to exchange for weeks unless we find specific banks that will do it for us? Or did I get that all wrong? I need more coffee...

What people get confused with is peg vs. revalue. The terms have been interchanged too often to understand the difference, and that seems to be the problem. I have always heard revalue, not peg, and revalue is more in line to what we have all been hearing, it will float based on many economic factors, not fixed regardless which is how a peg works. Granted, the seem to sound the same, but technically, there are different, and I much prefer the revalue strategy.

With a revalue, only the major banks will be exchanging, and many of the smaller ones won't bother as it is not yet listed on FOREX exchange which is what most banks go by. We have all seen this when calling banks to purchase dinar, some will exchange now, some branches don't have a clue unless it was listed on FOREX, so the same will hold true with exchanging. Not to worry, I don't think anyone would mind traveling a bit to get to a bank that exchanges nearest to them. Heck, I would go wherever I need to to exchange, so don't worry, all in good time.

Good luck to all, Mike

Originally Posted by worf

Let me try to get this straight. For 540 plus pages, we were all getting excited about the dinar's peg beit low or high. Now in the last 4 -5 pages we are abandoning the peg theory and now embracing the floating theory? Is this what "your sources" are saying or is this just your own speculation? How can we go from it is likely to peg Aug 14 -20th to it is not going to peg but rather float, based on an old IMF story of several years old? And instead of Aug 14 - 20th now sometime in Sept or later?

This is beginning to sound like p**s promise to pay but at the last minute the banks alledgedly froze the money so they couldn't all of a sudden pay out. I know everyone is trying to do their best but this sure is fustrating! So if we are going to wait until Sept, then why did the banks close, the bank websites change their wording etc in the last few days? Getting ready for the float either in Sept, Oct, Nov, Dec or ? What happened to the logic that if they don't reval soon, they may not have a country left? So many articles, so many theories it can drive one nuts! (g)

worf

Yes, this is torture for some, but economics and politics often are like oil and water, so all we can do is speculate on the information we find and hopefully a little logic will help us understand what is really happening.

It is not close to the PIPS fantasyland story, this is hard assets in our hands and major banks required to allow exchanging, so not even close to PIPS fiasco, so relax, it shouldn't be much longer with all that we are now seeing happening. Security is the issue, and has been from beginning. We are way closer than any so called experts had predicted, so we should be thankful, I know I am. (g)

Good luck to all, Mike

Thanks Mike... for clarifying the reval and peg terms... sounds fine to me... and any drive no matter how far it takes to do exchanging when the time comes is welcomed by me.. Let it Reval, float... and then Peg!! SOON!!

YES, THANK YOU MIKE: I DON'T THINK AN OCCASIONAL ROAD TRIP WILL HURT ANYONE ESPECIALLY WHEN YOU THINK OF THE BENEFITS IT WILL BRING
LISA

Originally Posted by Offshore-Wealth.com

Yes, this is torture for some, but economics and politics often are like oil and water, so all we can do is speculate on the information we find and hopefully a little logic will help us understand what is really happening.

It is not close to the PIPS fantasyland story, this is hard assets in our hands and major banks required to allow exchanging, so not even close to PIPS fiasco, so relax, it shouldn't be much longer with all that we are now seeing happening. Security is the issue, and has been from beginning. We are way closer than any so called experts had predicted, so we should be thankful, I know I am. (g)

Good luck to all, Mike

Thanks for the positive response. I'll continue to hang in there with my knuckles turning white and my finger nails bitten off! (g)

worf

Cooperation protocol agreement between Iran, Iraq



MENAFN - 10/08/2006




(MENAFN) Iraq announced that it has signed a cooperation protocol with Iran and at the Iranian embassy building in Iraqi capital of Baghdad, IRNA reported.

At the meeting, deputy head of Iraq-US Chamber of Commerce and Industries said that the signed protocol is a primary measure for expansion of mutual trade and industrial relations and further joint investments in Iran and Iraq.

On the other hand the Iran's commercial said that the signed document is important to Iran's public sector, showing that in particular members are willing to participate in the reconstruction of Iraq.

Iran's commercial attache in Baghdad indicated that from now on Iranian tradesmen and investors can access updated trade and investment laws and regulations in Iraq. The official also showed that this protocol will enable Iran to have a more active role in the reconstruction of Iraq.