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

Originally Posted by gogreen

Hi everybody, I have been keeping up with reading all the important stuff and am grateful to everyone who searches for and posts all the news articles they can find concerning Iraq.
One thing though that has been plaquing me for some time now is the fact that hundreds of thousands of people have bought millions of IQD which most likely is now into the trillions of IQD for speculation. Now, when the IQD revalues as high as we all hope it to be, where is all the money going to come from to pay all of us as we trade in our IQD? We know that Iraq doesn't have the money to back up that amount. Sure they have the oil, but most of it is still in the ground and what they are pumping out right now is helping them to keep going economically, but thats about it. So am I to assume that the trillions of dollars that have to be paid out will come from the international banking community? I obviously don't have much understanding when it comes to the worlds monetary systems. Is anyone able to please put my mind at ease since I have put some of my last money (I lost big time with PIPS) into buying a few millon IQD's to hopefully see better financial times ahead.
Thanks for anyone bringing forth factual, logical information to put my mind at ease,

gogreen (sorry for being so long winded )

I posted this over at the "go crazy thread" first but all the action seems to be over here, so sorry Neno for causing more work for you!

One thing you have to remember is that once the Dinar revals and goes on the world market it becomes a legal currency for the multitude of currency traders world wide who could buy and sell dinars. Institutional buyers who can't buy the dinar now will be able to use large sums of money to acquire "beaucoup" dinar. This will allow a huge sum of money to flow into the "reserve bank" for the dinar. Our money that we hold will be a pittance compareed to the amount that will be traded after the dinar goes public. Remember, that all the value of all stocks bought and sold on all the exchanges in the US amount to less than 1/3rd the money that is traded on the world monetary exchanges on a daily basis.

Originally Posted by Dinar-Excited

I think they did sign the article 8 being it was held in Kuwait with all the big boys. I mean what is Iraq going to do stand at the podium and say I changed my mind I do not want to sign this. If it was done in Parliament I would of said it probably was not signed because they seem to not want to show up for those meetings. But when it comes to meetings around the World it usually gets done.

I think they may be waiting on the HCL and then enacted everything together. I do not see this really going passed November. I think they are keeping it hush hush top secret.

The really good news is that we all know it is going to go up soon. I know a lot of you have been in this for 3 years and are really tired. But remember when you first invested you had know idea how this would play out. But we do now they really have no option if they want to move forward.

I was watching Glenn beck yesterday and he was telling the truth about Iraq and had one of the big Kurd leaders on. In Kurdistan they have built a University called The American University of Iraq. They did this in honor of are helping to make them free and a Democracy. There is no doubt in their mind that they will make it so we should not doubt them ever. They are being backed by more than 27 Country's. The High up Kurd gentleman was very proud and optimistic about his Country Iraq. he stated that he had travel to all parts of Iraq in the last couple of weeks including Baghdad and some of the other dangerous city's and said he has seen major improvement. Also he thanked the US and all the other Nations because before we went in and took Saddam out he had KILLED OVER 1 MILLION KURDS!!!!!!

I for one am more excited than I have ever been as I can see all of this coming together. All the doubts I ever had have gone and all I can see is that Iraq is going to recover in amazing strength.

Dinar-Excited

Awesome! I had been "kicked in the stomach" so-to-speak this morning when it seemed nothing had happened. Thanks for picking me up off the floor.

Yesterday I bought 100K Dinars from my local Chase Bank branch in San Antonio. I saw it listed on their computer. No problem at all. It should be in today.
That woman at your Chicago branch was flat wrong.

jedi17 --- unfortunately that is not correct. I believe only the Swiss have sufficient amounts of gold to back the money. That is why the swiss franc
is the most consistent in strength. The other countrys print money with no
gold backing creating fluctuations in buying power.

Originally Posted by bigred52

jedi17 --- unfortunately that is not correct. I believe only the Swiss have sufficient amounts of gold to back the money. That is why the swiss franc
is the most consistent in strength. The other countrys print money with no
gold backing creating fluctuations in buying power.

sorry....i didn't mean to imply that they had enough gold to cover all of their currency...thanks for keeping me imformed.

I think I said that they have enough currency in reserves and gold....

Originally Posted by boomcreek

Awesome! I had been "kicked in the stomach" so-to-speak this morning when it seemed nothing had happened. Thanks for picking me up off the floor.

I agree...I think article VIII has been signed. Read my siggy...I transcribed the press conference from Mr. Kimmitt (special delegate from U.S. on Iraq economy). He specifically states they are responsible for any unforgiven debts, they must be able to function with their resources and foreign investments NOW!!! can't do that if no fil....I think it all has been done...he even refers to the hydrocarbon law. There is no requirement that states that we the public are to be kept abreast at every turn with the passing and enactment of laws in other words...we on Rolclub and the general public are not their first priority...to make informed. I still think it all has been done. Check out some of the pictures from yesterday's meeting...they are lined up signing some packet of papers....gotta' be something important enough to have their picture taken for and Shabibi was there along with IMF, World Bank, etc.

Thanks for the input. Obviously we all hear different things from different people.
I'm sure the US wouldn't mind having a few thousand people across the country being multi-millionaires, paying taxes on that money and putting that new wealth back into the system.

Originally Posted by One Oar

Hey Addy

I might be back-dooring this, but IF the FIL MUST be enacted within 30 days, the currency would have to be fully convertible and everything would HAVE to be in place, wouldn't it? Is there any other option to have an enacted FIL and not see movement?
I know there are a lot of other items we're looking at, but are we overlooking the obvious?
BTW, I'm learning from/with everyone else, so if I'm missing something, I'll learn some more.

You make a very valid point and nobody has yet to comment.....The FIL being enacted very soon right??? can they do this with their currency not being RV. I mean sure they can but they would be stupid and that would basicly mean they are gonna give their country away for pennies. AM i correct or overlooking something here?? Susie or addster what are your thoughts or anybodys? I remember susie posting that if they enact the FIL without RVing she would be on the first plane to kurdistan to dump a bunch of money into as many thigs as she can. Anyone remember that?

Originally Posted by Jola

Wow...Okay, I will try again today. What's bothering me in this story: if they sell for 767 and buy for 620, wouldn't you say that they would want to actually SELL , instead of having their customers running around like crazy to get a few dinars?
What happened is that actually when I went to the first chase branch, the lady that I have talked to did look up the IQD right in front of me on her computer. On top of that, chatting with her, she told me she does have a stock of dinars - but from her son, who is in Iraq... Curiously, she did not want to continue the conversation about the dinars that she's got...kinda like a secret subject..thing...
My conclusion is that chase is holding off on selling IQD. And we know why!

I appreciate your help, Mike. Cheers - to a soooon reval!

if your serious about buying dinars from chase call chase elk grove village and ask for diana or himanshu they will help you

Originally Posted by dinartank

You make a very valid point and nobody has yet to comment.....The FIL being enacted very soon right??? can they do this with their currency not being RV. I mean sure they can but they would be stupid and that would basicly mean they are gonna give their country away for pennies. AM i correct or overlooking something here?? Susie or addster what are your thoughts or anybodys? I remember susie posting that if they enact the FIL without RVing she would be on the first plane to kurdistan to dump a bunch of money into as many thigs as she can. Anyone remember that?

Yes, I do. you are right. The reval SHOULD take place before the FIL is put into play. They would lose their butts if it happened any other way.