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

Made my xmas, :0)))))))))))))))))))))))

And finally from the IMF website:

IMF Executive Board Approves First Ever Stand-By Arrangement for Iraq
The Executive Board of the International Monetary Fund (IMF) today approved the institution's first-ever Stand-By Arrangement for Iraq, which is designed to support the nation's economic program over the next 15 months [ backstop the dinar?]. The IMF arrangement, for an amount equivalent to SDR 475.4 million (about US$685 million), is being treated as precautionary by the Iraqi authorities.

http://www.imf.org/external/np/sec/pr/2005/pr05307.htm

treasurehunter1,

Thanks for your kind words.

If you look on the investors iraq forum you will get opinions of anything from .01 to 1 to 1 for a revalue! There are some smart cookies on there that have worked out formulas that would have a maths professor tearing his hair out! Trouble wih formulas is they don't really know all the up to date info, ie, dinars in storage that none of us know so you're guessing straight away.

Ok, my opinion, and it is mine based on research, articles, forums. I believe a revalue is on the cards at a rate of .33 to the dollar. WHY? Well to kickstart the economy and put Iraq back on the map and make them a player they need to revalue at a reasonable figure, .01 is not really worth doing!! lol. At .01 too many speculators would buy up too much dinar which again the CBI wouldn't want. Iraq need to be internationally trading again to be recognised on the world stage. Imagine if they can buy western goods at a reasonable price?

Also we have to remember that before Saddam was ousted the rate was around .33 so why not go back to that rate? the people would be back to where they were less Saddam!! They need to give something back to the Iraqi people. If they reval at .33 or something similar imagine how many new businesses could be started as the Iraqi people will have money in their pocket. The small business, the hotels, the cafe, bars etc. Unemployment may be a problem at the moment but this could be brought down rapidly with fresh money and new jobs.

And with all the billions of debt forgiven, they can start with a clean 'slate' and with the US, UK watching over them, they really can't go wrong. It's Bush's last term in office, he will do all he can to make sure he's remembered as a success rather than a failure, and part of being a success will be the US pulling a load of money out of Iraq through their oil.

.33 will also stop more speculators buy up more dinar, because even though it may go up to 1:1 in time, it's still not as an attractive option as buying it at the current pathetic rate of 1470 to the dollar!

That's why now is the time to get involved IMO before it's too late. I'm looking to add to my 'several' millions before the year is out.

The EPCA expires on the 31/12. A revalue really could happen anytime after that.

So guys.. I am very exciting indeed. After reading all these, would the dinar really go up to $0.30 (in UK, that is about 17p !!!)? It will make me very rich!

You and me both! I wish I had more than my 750,000 Dinar, but unfortunately finances do not allow at this time... still if it did happen at £0.30 it'd be enough to sort my life out.

Guys,

Hope to be adding to the 7 million stored in the other room. Another couple of million after the news of the last couple of days are in order. Can I afford it? Not really but hey, investments like this don't come along every day and if it revalues at even .10 then my 9 million will clear me 300k sterling after paying the tax man. As for a .30 revalue, well that would take me into the millionaire category! LOL.

I'll stick it on my 0% interest for 6 months credit card and hope it revalues before the 6 months is over, which it should do.

Anytime, most welcome.

Merry xmas to you and all.

Adster.

I never did get math, but if you're happy with this info I'm happy! Have a great Christmas!
blessings,
Kristin

Originally Posted by Adster

Guys,

Hope to be adding to the 7 million stored in the other room. Another couple of million after the news of the last couple of days are in order. Can I afford it? Not really but hey, investments like this don't come along every day and if it revalues at even .10 then my 9 million will clear me 300k sterling after paying the tax man. As for a .30 revalue, well that would take me into the millionaire category! LOL.

I'll stick it on my 0% interest for 6 months credit card and hope it revalues before the 6 months is over, which it should do.

Funny,

So Santa is bringing you a sack full of dinar, great hedge for PIPS for sure. (g)
Wouldn't it be grand if we could all care less about PIPS coming back or not?

Happy Holidays to All, Mike

Interesting,

I have never had more fun with an investment than with my dinar. I have stacks of it all over the office and home, and all this time I have had people I know say I was crazy. (LOL) Crazy like a fox, right guys? The bottom line is there will be plenty of speculations on where the peg will fall, but in my opinion, I could care less, we know it is going to happen, and we also know it will rise along with the economy in Iraq, so I am comfortable for short term, mid term and long term, so how often does an investment come along which covers all our investment strategies with one deal? NEVER!

Personally, I believe as Adster does, having researched the same information, and using the same common sense analysis, there are reasons beyond economics working here. Psychologically speaking, I feel it is just as important to make a statement as it is to jump start the economy. I feel the peg will be .33 plus minimum to demonstrate to all that things are not worse than during Saddam regime, and this is important point to establish. Taking this one step further, it would say even more to peg it higher to send an even stronger mesage to all, that Iraq is far better off after democracy, and this would send a clear and distinct message to the whole region.

Now tell me, isn't this fun to think of all the different scenarios? I lie awake at night calculating what each move will mean to Iraq, and although excahnge rate was $3.50 to dollar at one time, it was a manipulated value by Saddam, as well as it was during time of massive counterfeiting era where Saddam was the one frauding his countries economy down the drain. Just think about that for a moment and you will see the logic to see currency at the former level without government fraud. WOW, not that is saying alot.

In addition, we all know terrorists are fueled by money, not becoming martyrs with 52 virgins and rivers of milk and honey, etc. (g) If everyone was given the same chance at wealth, which Iraq can certainly afford, then think what the terrorists who explode themselves so they can give their families money will be thinking? It is not a stretch to think it is better to pay them not to blow themselves up. And that is what setting the peg at $3.50 will do, make the poor wealthy, and that ends all terrorist activity in a hearbeat. Inflation will be kept in check by international trade and investments, unemployment would drop as free enterprise explodes, there is just so many potential benefits and few negatives, so lets all dream for a peaceful new year worldwide.

Happy Holidays to All, Mike

Not that I want to Burst any bubbles.....but

Deeana at free dinar told me on the phone that the inside info they get from the Iraq office is anR/V of 1-10 cents sometime this summer.

Of course this is still speculation and not all that bad if it pans out that way.

Also she said that when they revalued the Afghan dinar they did so for 2.5 cents so some use that to say the R v for Iraq should be at least double that when it happens.

Best to think conservatively, but dream extravagantly, I guess.

I prefer the dream.