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Hi!
I wonder if you still believe there will be a revaluation? Personally I am losing hope:sads:
I am considering selling some of my dinars, as I have a very tight economic situation. On the other hand, I don't want to do it if reval is around the corner!:eek::help:
Hi Karin,
Good question, and as one of the long term holders of dinar, like most of us here, this is all about hanging on as we have come so far it would be ashame to give up now. Yes, this has been frustrating given the economy is going down the toilet worldwide, but the facts remain the same, it has to happen sooner or later.
No doubt, there are shortages of dinar on the street, more so than ever before as I was just talking with my Kurd associates who said this shortage was longer than previous ones. What does this mean, who knows for sure, but ever since issuing debit cards, it appears this may be the interim currency needed when new smaller coinage and notes are eventually introduced.
Sure is a slow process, but with what we have all seen happen over the past several years, it is not surprising to see this slow pace on issue of dinar value restoration. We have heard the officials claim to want to restore value, we have seen coinage removed from streets, we have seen oil deals get signed, now new elections with little violence, very stable dinar, increasing rate slowly for years without one dip in value, talk of troop withdrawal, what is left? With commitments to reconstruct Iraq, and all the goods and services needed from outside of country, and so little buying power at current level, I feel we are closer than ever.
All I can say is try to hang on a little longer, it will happen, and without saying what I had heard from my Kurd associates, they sure feel something is about to happen, but then again, this was true before, so take it for what it is worth, but my gut says soon.
Success to all, Mike
I believe.
Thank you so much for your answers!
OSW, I HOPED you would answer my post...and say what you did! LOL
I will hang on to them then, for as long as I can :)
/Karin
Hello Karinc, Umberto here ( from our other Forum.....). I do understand your frustration about this. I, too, sometime in the past had those bad moments of re-thinking this deal and the temptation of losing hope.But it's true we have been holding on this far and so we might as well ,if possible, hang on just a li'l bit longer.I do hope you'll be able to do that and I wish you the Best, of course........
OSW,thank you for your encouraging words (which I know are usually always backed up by facts).
yes it has been a sometimes long and aggrevating ride....but one day it has to revalue..and as Mike{OSW} said,given the facts where they stand,it would appear we are as close as we have ever been...so lets all hang on a little longer...give each other as much hope as we possibly can...and see where this ride ends at....IMHO...Pat
New Iraqi Dinar has advanced 25% since the end of major combat operations per one of the dealers. It is heading in the right direction.
Hi all - long time no see!
I was never convinced of an overnight revaluation - I hoped, sure, but never really thought it would happen.
I bought mine as a long-term investment. And so far it is moving in the right direction. If it revals, then great, otherwise I'm happy to hold onto it for 10 years or more.
Hi Nej,
Good to see you, hope all is well on your side of pond. Like all of us, we have seen a total collapse of banking, housing, stock market, you name it, and it has been hit by this deep recession hitting worldwide.
Unfortunately, this is just the tip of the iceberg, and the ripple efffect is rolling across the world starting with U.S. a year ago. We have already seen how little effect the government bailout has had on economy, and what is worse, they are creating a disaster for generations to come throwing worthless dollars down the drain which further devalues the U.S. dollar.
I have been saying for years the fraud in our gov. will undermine the U.S. dollar, and this will have a ripple effect for years to come, and now we are seeing the beginning of the end of dollar as we have known it, and I suspect the same will happen with your pound. Once the faith in gov. is lost, it is not going to change for decades to come the way I see it. Fraud is so rampant in government it has become a joke, so how can we take these bailouts serious? It is like throwing monolpoly money on a fire. lol
All I can say is the Iraqi dinar has proven to be one of the most stable currencies in the world. Not only has it been stable, it has consistantly increased in value, although slower than we all would have liked or expected, never the less, it is the only currency I know of that has actually increased in value over past five years. Who would have imagined given all the infrastructure and terrorist issues they have been going through. If it were not the lessons they learned from U.S. throwing money at country, and it being largely unaccounted for, we would have seen faster progress, but when you can steal billions without concern, of course you will spawn the same corruption in Iraq gov. as we see daily in U.S. gov. lol Corruption has slowed progress in Iraq, just as corruption has brought on this deep recession we are experiencing in U.S. Think about this, and then you will have answer to why it has taken so long to see revalue.
Most of us have been involved long enough to see it all, and what an education we have all gotten, right? lol The bottom line is we are closer than ever, and no matter how tough things get economically, hang onto those dinar for I firmly believe we will see our hopes and dreams met this year. Just too much progress has been made to ignore the last piece of economic rebuilding puzzle, restoring the value of dinar to reasonable former levels. It has been said over and over, and we have seen little pieces of puzzle come together first, instead of the big one, the restoring the dinar to former levels. We have to wonder what would have happened if they put this piece first?
I suspect everyone in Iraq is second guessing this long drawn out gov. strategy, but in the end, it has to do with the ease in which the Iraqi gov. has been able to rip off U.S. gov. and its own people. Bottom line, just like what is happening to U.S. taxpayers, we are all being ripped off by gov., after all, anyone who studies world politics knows what is really going on, and it certainly isn't to help citizens, it is to line their own pockets. Yes, I am disgusted as most are with how slow this is happening, but at least it will happen, and in uncertain times like these, it is nice to know we are all holding the winning lottery ticket, but we just don't know when the drawing will be held? lol
Hang in there a little longer folks, we are getting close. The little pieces we have seen are coming together to make the whole puzzle. Removing the coinage from streets, a small but siginificant piece. Then introducing the debit card, another small piece of puzzle. What other reason would there be for these two pieces if not a restoration was planned, and these two pieces of puzzle will indeed help in final transition. The lowest denoms are what the majority of people will be using, not the larger denom notes, so think about this, is it not a stronger piece of puzzle than security and all the other slow to pass regulations. And the last big piece, how much fraud is too much fraud? I think the gov. leaders have had more than enough time to rip billions off from gov. and people each for their own use, so with restored dinar value, there will be zillionaires in Iraq by the hundreds, and they will all have been part of gov. LOL
Success to all, Mike
you are right on Mike with your assessment of not only our gov. but also of the Iraqi gov. the last 4 years...we have taught them well...lol...and i,like you ,think we are as close as we have ever been...hopefully this will be the year..lets keep holding on to them a lil bit longer guys....we are slowly getting there...GO DINARS...Pat
I think Iraq wants to keep it's currency stable at the moment so as to encourage Foreign Investment into the Country. That's what I get from the recent articles.
Exactly,Quote:
Originally Posted by Seaview
From very start it was announced over and over, a stable Iraqi Dinar was the first goal that needed to be achieved in order to restore value of dinar to former level. Well, I don't think anyone can say the dinar is not stable, in fact, it is probably the most stable currency anywhere over the same time period of past five years.
Even the U.S. dollar sunk like a rock over same period, and if not for artificial pump with pressure U.S. put on world banks late last year, the dollar would have continued its plunge to monopoly level, but the efforts to pressure world banks only slowed the dollars dive, but as we have all witnessed, the economy has gotten ten times worse, so the fragile dollar is about to continue its free fall, so beware.
Whenever you start to get impatient, which is daily for many of us, just look at what has been accomplished to date in Iraq. Who would have ever thought that the dinar would become the most stable currency in the world while terrorist attacks and gov. theft was a daily happening? lol Everytime I get impaitent, I just think of this one amazing fact and I feel we will see the rest of the puzzle come together.
We also heard many times that the dinar would be restored to former values, so when combined with the goal of stabilizing dinar, restoring value was second goal. Well, we know they accomplished the first goal, this has been clear, so when will the second goal be finalized? As we all know, much has been accomplished, the gov. is more stable than it even has been, killing is way down, plans for U.S. pullout are announced, oil companies are lined up to access this ever increasing demand for sweet crude as the Saudi's oil reserves implode, and worse, becomes more expensive to pump. Would anyone have believed Dubai construction would come to a screeching halt just six months ago?
Simply put, I try to read between the lines, and what I have been seeing is all good news for the dinar. With so much planned infrastructure rebuilding planned, and almost all of the resources coming from outside of Iraq, and with worldwide economic collapse all around us, it would make sense to see dinar go through restoration stage before this massive rebuilding starts. What I look at is all the small pieces of puzzle, for we all saw the large pieces not making any difference over the years, all the so called laws that were finally passed, none made any difference. The pieces that seem to mean the most are the coins being removed from street, the plastic money now in place, so what do you think is next?
Success to all, Mike