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

Originally Posted by Treater

Wow, where to begin...

1. This idea "flew into your head" - so it's your own idea?.

2. "one thing I heard" - so someone else told you?

3. "this currency was supposed to be a temporary currency to hold over the country until everything is under control "

OK, everything isn't going to be "under control" until the economy is "under control".

4. "why would any countries let them reval? "

They don't need permission from other countries, but what counrty wouldn't want them to RV, every country who is involved wants them to reval so bad they are willing to write off billions in debt to them, give them grants, loans, anything to encourage a stronger Iraqi economy and make it easier for them to RV ASAP.

5. "I could understand raising it a little but not 1:1 on a TEMPORARY CURRENCY."

So where is the evidence that it even is a temporary currency? Yeah it may be temporary until the middle east makes a multi country currency in 2010-2012, but with Iraq basically one of if not the most valuable country in the world, I could imagine 1:1 being a "little bit" compared to what it's gonna be.

Treater I didnt mean to upset you or make you get defensive. I was basing all this on what I heard.... I believe in and want a 1:1 + reval just like the next investor but im just bringing this up seeing how we are close to a reval as most say and the news says.

Oh, I am not upset at all.
I just attempted to break it up into sections since there
was a lotta ideas all thrown into you post.

So where did you hear this from, and do you have anything to back up any of the info you heard/flew into your head? Lets look at this logically, I am not mad.

Originally Posted by PaulieThaGreat

Treater I didnt mean to upset you or make you get defensive. I was basing all this on what I heard.... I believe in and want a 1:1 + reval just like the next investor but im just bringing this up seeing how we are close to a reval as most say and the news says.

Originally Posted by Treater

Oh, I am not upset at all.
I just attempted to break it up into sections since there
was a lotta ideas all thrown into you post.

So where did you hear this from, and do you have anything to back up any of the info you heard/flew into your head? Lets look at this logically, I am not mad.

I heard a fellow member post about it a while back saying it would change in 2010 or around there. Which you brought up is a time when the Middle East could succesfully make a UNITED currency for there part of the world...... But without anything to prove it I guess it is just another topic to dabble with and chat about in this forum....

Originally Posted by PaulieThaGreat

Hey one thing that flew into my head today was this..... I heard that this currency was supposed to be a temporary currency to hold over the country until everything is under control and with this in mind why would they reval or why would any countries let them reval? I could understand raising it a little but not 1:1 on a TEMPORARY CURRENCY. Also I am no neysayer i am a complete YeySayer i just wanted to bring this up and see what you guys say.... Thanks.

no paulie, unless you can find a link where it states it is a temporary currency you are probably just remembering some horsepucky from iif. this currency was specifically designed to thwart cointerfeit practices. it is one of the most secure currencies in the world. not to mention it is of the highest quality where currencies are concerned. they have no intention of reprinting the currency, as a recent article has stated.

No, not the reprint argument again, for facks sake.

Originally Posted by Adster

No, not the reprint argument again, for facks sake.

I knew I was going to get trampled....

Originally Posted by PaulieThaGreat

I knew I was going to get trampled....

Paulie, the recent CBI article said 'no new currency', not the first time we've read this. It won't happen matey. No way. Be like releasing Saddam and letting him run naked in front of the White House lawn as he gives Bush the big middle finger.

Number of banks 12 -----
Auction price selling dinar / US $ 1452 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 31.495.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 31.495.000 -----
Total offers for selling (US $) ------ -----

Down 2 more.

Originally Posted by PaulieThaGreat

I heard a fellow member post about it a while back saying it would change in 2010 or around there. Which you brought up is a time when the Middle East could succesfully make a UNITED currency for there part of the world...... But without anything to prove it I guess it is just another topic to dabble with and chat about in this forum....

You've been around long enough to know what a sensitive subject this is. Try P/M-ing some of the other members or just do a little investigation work on your own.

D.G. of Foreign Exchange Control

The 808 daily currency auction was held in the Central Bank of Iraq day Sunday 2006 / 11/ 19 so the results were as follows :

Details Notes
Number of banks 12 -----
Auction price selling dinar / US $ 1452 -----
Auction price buying dinar / US $ ------ -----
Amount sold at auction price (US $) 31.495.000 -----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $) 31.495.000 -----
Total offers for selling (US $) ------ -----

Cash amounts sold to the bank and its customers were USD(12.395.000) at a rate of(1452+1+10=1463)IQD\USD .
The amount sold to make transfers abroad was USD (19.100.000) at a rate of (1452-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

12, not very much to operate on after a weekend is it?