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

Guys, check this link out. It is from 2 days ago.

http://www.iraqdirectory.com/DisplayNews.aspx?id=1593

ON one hand they talk about rasing its value to 3.3, and on the other they talk about

"three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar".

Does that mean, if this happens 1mil dinar will be 1000 dinar suddenly?and then worth 1:1 to raise it to the level of USD?

I am confused . Please help me understand.

regards

raymarek

Marek,

it is from then end of June and is what started all of the churn here. also this link has some pretty serious pop under ads and is not very friendly.

Mike, thanks!
I especially like the part of "given the desperate need to attract international investors, just as the north is, it will happen, and in fact, it will be announced this month as the unemployment issues cannot wait"
I sure hope it will be! But now, IF they didn't decide on the Investment law yesterday, and actually DO leave for holidays... Are you then saying they can still reval?

Originally Posted by clueless

Marek,

it is from then end of June and is what started all of the churn here. also this link has some pretty serious pop under ads and is not very friendly.

Oh, sorry mate. hard to keep track of all posts at the forum. Must have missed that part.

Still, i almost feel out of my chair when i read it.

marek

Hi Karinc or anyone for that matter,

I am new to the forum but it seems that when i post a question i dont get any answer, maybe no one is on at the time i post my questions. Please help! I am in New York it is 8:56pm here 7/31, I know yuo are in Sweden. Nice and peaceful there Uh!
My concern is to try and secure my exchange when the Reval hits!
Thanks for anyones help!

Hey Marek, i do understand that reaction. many many others had much the same and you will find pages and pages of debate about it. best i can advise is to pull up a list of posts by adster and find the ones where he talked about this issue. bottom line is that most here firmly believe that there is zero cause for worry about this.

clueless, thanks for your words about this.
I just called Ted Burk at the at the www.dinarinfo.com and spoke about it.
Felt much better after i had discussed that with him.

he gave me this article. i didnt get any link though.

Enemy Currency
Dinar nearly worthless in war-ravaged Iraq Photo: AP





Looking for investment opportunity? Try the Iraqi dinar

Despite Trading with the Enemy Act prohibiting trade in enemy currency, finance minister approves trade in Iraqi dinar for another year. Buying Iraqi dinar at unprecedented lows could prove enormously profitable if and when war-torn nation returns to economic prosperity
Shlomi Shefer
Despite the Trading with the Enemy Act, which forbids trade in enemy currency, Finance Minister Abraham Hirchson renewed authorization to traffic in the Iraqi dinar for another year this week.

The CashFlow Club Israel, which unites entrepreneurs and investors in various financial sectors, said the extension constitutes an investment opportunity with potential for significant profits.

The guiding principle in the move can be traced back to World War II, when the German mark collapsed. The few people who purchased German currency at its low point and held onto it for a few years were rewarded with astronomical profits when the mark regained strength a few years later.

The same went for the Kuwaiti dinar, which slumped during the Iraqi invasion of the country and soared when the economy restabilized.

The forecast that Iraq will someday return to economic prosperity is based on the nation's tremendous oil reserves.

Bibi okayed trade

After the outbreak of the war in Iraq, the Iraqi dinar plummeted to all time lows. For the sake of comparison, before the war one Iraqi dinar was equal to USD 3. Nowadays, one American dollar is equal to about 1,000 Iraqi dinars. In other words, the value of the dinar plunged over 99 percent. According to historical trends, the purchase of 100,000 dinars for USD 100 could bear significant yields - if and when Iraq stabilizes.

The current situation in Iraq precludes electronic foreign currency trade in dinars, and therefore dinar bank notes must be directly purchased and kept. Since the days of the British Mandate, Israeli law prohibits trading with the enemy and bans, among other things, trade in the currency of enemy countries like Iran and Syria.

regards
admin

Originally Posted by www.xealthy.com

Hi Karinc or anyone for that matter,

I am new to the forum but it seems that when i post a question i dont get any answer, maybe no one is on at the time i post my questions. Please help! I am in New York it is 8:56pm here 7/31, I know yuo are in Sweden. Nice and peaceful there Uh!
My concern is to try and secure my exchange when the Reval hits!
Thanks for anyones help!

Hi xealthy,

I've asked the same question and I will give you the answer I got......check out your local bank and ask for the exchange dept. My local bank calls a bank in the closest, biggest city and asks for the exchange rate and that is what my bank will give me. They then send off my dinar to their main branch for the acctual exchange. And yes, I will have to wait on my money. I do trust them, but then again I can always go to the big city near me and exchange at a larger bank. They charge $12.50 for the exchange. Hope this helps and I'm sure others will respond.

Monica

clueless. it can also mean as neno explain to me

0.00068to 0.68 wich is very very gooooood! :-)

marek

the rumor is the high ranking U.S. officials are from the world bank. hmmmmm.