Thread: The Latest Negative News on the Iraqi Dinar...

If you have a point to make on the Dinar that may be contrary to the idea that "everything is coming up roses", feel free to post it here. I'm sure some will come visit you to argue their point. Everyone is to keep it to the facts and leave personal attacks and vulgarities at home.

Everwiser

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A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter.

I don't know but the way I read this is they want to take 3 zeros from the Iraqi Dinar, as I take it a 10,000 note would now be 10.00, a 1,000 note would be 1.00. It realy does not state that they are taking 3 zeros from the value, but are from the Dinar.
So if a 10,000 note is worth 10.00 US and the value of the note goes to 3.33 than the 10,000 note would be worth 33.30

Or am I just reading into this wrong.
I'd like to buy some more Dinar, but just want some clarification

Thanks

Originally Posted by choochie

Thanks Karin,
Hopefully that puts some minds at ease.

Funny,

Yes, it will, all except XXXXX the lobber. LOL edit.-neno

Good luck to all, Mike

Originally Posted by Offshore-Wealth.com

Funny,

Yes, it will, all except XXXXX the lobber. LOL

Good luck to all, Mike

I think with XXXXX, even after the peg, he will still try to convince us that the dinar we are holding are worthless. edit-neno

Choochie, I agree with you. In the case of XXXXX, his glass is always half empty. Thats the difference between all of us. Our glass is always half full. edit-neno

Top part removed, stay on subject.-neno

Ok heres some valid points for you...

1. CBI has insufficient funds to support a rate of 1-1 regardless of what you say about faith etc. If 100 iraqis with 100 million dinars want to exchange their dinars for dollars the economy dies. Thats a pretty strong faith requirement. Id even go so far as to say that alqueda members with that much money would be able to do some serious damage here.

Not to mention all of us.

2. The iraqis would be stuffed without smaller denoms in circulation immediatley. They would have to print the equivelant amount of notes in dinar to cover people wanting change for every single 25k 10k 5k 1k all the way down to usable levels. Thats a lorra lorra notes.

3. The vast enrichment of millions of iraqis would lead to a dangerous increase in voluntary unemployment. This would cause dutch disease and have a major negative effect on the economy and the country in general.

4. The security situation over there is not good enough to stop groups of gunmen from robbing local shops for their dinar all over the country causing nation wide fear and danger should a huge reval happen.

5. The terrorists would also be enriched and would be able to purchase many more weapons and more expensive weapons on the black market to cause us trouble with. With current reports of how they are running out of money why would we want to give them more?

6. It would cause a massive cash influx to the country as people from all around jordan kuwait and us lot cash in our dinars for foriegn currencies.
This would put a tremendous pressure on the CBI to cover this amount and keep the rate stable.

7. Foreign investors would be scared off by this period of huge instability and would back off until things calmed down as there is a possibility that it could rebound. Should a huge reval happen.

8. The economy in general would be highly vulnerable and a media report of a terrorist threat or activity could cause a huge panic sell off of dinars to cash in whilst you can. Subsequently crashing the dinar.


How can you say these points are irrelevant?

These i believe are highly relevant to our investment and the situation in general.



I look forward to your response.

Originally Posted by Loops

Top part removed, stay on subject.-neno

Ok heres some valid points for you...

1. CBI has insufficient funds to support a rate of 1-1 regardless of what you say about faith etc. If 100 iraqis with 100 million dinars want to exchange their dinars for dollars the economy dies. Thats a pretty strong faith requirement. Id even go so far as to say that alqueda members with that much money would be able to do some serious damage here.

Not to mention all of us.

2. The iraqis would be stuffed without smaller denoms in circulation immediatley. They would have to print the equivelant amount of notes in dinar to cover people wanting change for every single 25k 10k 5k 1k all the way down to usable levels. Thats a lorra lorra notes.

3. The vast enrichment of millions of iraqis would lead to a dangerous increase in voluntary unemployment. This would cause dutch disease and have a major negative effect on the economy and the country in general.

4. The security situation over there is not good enough to stop groups of gunmen from robbing local shops for their dinar all over the country causing nation wide fear and danger should a huge reval happen.

5. The terrorists would also be enriched and would be able to purchase many more weapons and more expensive weapons on the black market to cause us trouble with. With current reports of how they are running out of money why would we want to give them more?

6. It would cause a massive cash influx to the country as people from all around jordan kuwait and us lot cash in our dinars for foriegn currencies.
This would put a tremendous pressure on the CBI to cover this amount and keep the rate stable.

7. Foreign investors would be scared off by this period of huge instability and would back off until things calmed down as there is a possibility that it could rebound. Should a huge reval happen.

8. The economy in general would be highly vulnerable and a media report of a terrorist threat or activity could cause a huge panic sell off of dinars to cash in whilst you can. Subsequently crashing the dinar.


How can you say these points are irrelevant?

These i believe are highly relevant to our investment and the situation in general.



I look forward to your response.

Make my keg Newcastle please.

Originally Posted by clueless

Neno, please don't quote these posts from xxxx, cause it defeats the fact that i have him on my ignore list. thanks.

I'll second that clueless...He needs to make my keg Michelob Amber Bock...

and all yu people are lying dinar dealers.

iraq will be nuked 2mrow anyway.

xxxxx, dont you agree??

Originally Posted by garthstar

and all yu people are lying dinar dealers.

iraq will be nuked 2mrow anyway.

xxxxx, dont you agree??

Well, garthstar, I am not a dealer, nor do I hold millions in dinar, but I still believe that the peg is coming.

Umm lol garth.

I dont think iraqs going to be nuked any time soon.

As for these people being dinar dealers. Ive had my suspicions for a long time. Thats all they are though. IIF definatley. Here i dont know yet.

We shall just have to wait and see.

Im also loving the amount of responses to the origional thread i posted with the 8 good solid points on.

Anyone care to combat these? I think it will raise an interesting argument.


Oh is my name a swear word now as well?lol Too hot for you to handle?

and guys... you have to win first to get your kegs.

Why is it that people here think that they have already been made rich by this investment just by holding dinar before anything has happened?