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

Originally Posted by Nomrah I

Just a question - Why would they stock local Iraqi banks with dollars? If it RV's would the Iraqi people want dollars? Talk me through this folks, I'm a bit slow today. I understand the concept of removing the dinar from circulation - but having plenty of usd on hand doesn't really make sense to me unless it's just a byproduct of removing dinar? Help?

For those who want to exchange to the dollar as it is pegged to the dollar, they must have it to exchage it.
CLM

I have been mulling this point over in my mind and wondered where it would take us if it were to continue. I starting subtracting five points a day for the number of days that the CBI will hold auctions for the remainder of this year. When I came to the number 1365 the date corresponded with the eve of the IAMB meeting on the 12th of December. 1365 is the designated level that the IMF said it wanted the Dinar to be at, sometime near the end of 2006. If the IAMB turns over total control of the CBI to local control, and the Dinar is at 1365 to the dollar, then the IMF requirement will have been met, excess Dinars will have been pulled from the economy, inflationary pressures will have been mitigated and the CBI will be free to set the value of the Dinar at whatever level they want. We will see what happens in tomorrows auction and then again on Sunday and Monday to see if the trend continues. I'm thinking that the 12th of December and the IAMB meeting is one of the keys to the reval.

Originally Posted by railroad

This question may have already been asked but I will ask again. The Iraqis know dang well that a lot of outside people (like us) has bought up dinar and are sitting on it waiting to prosper from their gain. Myself, I,m only a drop in the bucket with what I can afford to purchase, but collectively, there are hundreds of millions (maybe more) to be made outside the Iraqi territory. With this in mind would'nt you think this would factor in during the time a R/V is in the making. Could they (CBI) be taking into consideration how much dinar is in our little hands???????????????? just wandering

I realize that the amount of DINAR in speculators hands may seem like a shiitepot full of cash, it is really of no consiquence to the CBI. In a few days, after this thing takes off like a tom cat with his hind end dipped in turpentine, all the currency that we speculators cash in at our local banks, there will be someone else ready to buy it up. I don't know who or what that will be but.... The point being that the CBI will not have to pay for it. Thats the way I understand or believe to understand it anyway..... Go Baby GO!!

LMDAO

Originally Posted by Adster

Soon be time for this!!!


Cashing in, please read. When the time is right soon this info is worth bearing in mind.

1. Hear of r/v through forum.
2. Check rate officially on CBI's site, Central Bank Of Iraq
3. Pick yourself up off floor.
4. Call in sick with the intention of 'never' going back..........
5. Phone around banks to find out who is exchanging, what they charge to exchange, and whether they will check your dinars there and then, (most main branches can verify there and then).
6. Take to bank, preferably with large husband, boyfriend, brother etc for security.
7. Ask for a large Cuban cigar whilst you put your feet on the branch manager's desk as you discuss what THEY will do for you. When he/she offers you coffee/tea ask for a large whiskey.
8. Pick manager up off floor when you get out your 'wad' of notes.
9. At a r/v around 1:1, exchange in what you feel comfortable with. Yes this will go back to their old rate of $3.22 in time. Personally, I'd cash in half.....
10. Leave bank, with cheque or confirmation of wire to your own bank account.
11. Head to nearest bar to get 'wasted'.
12. Hold a big party, start looking round for a nicer car/house.
13. Arrange r/v party with your fellow dinar holders from Rolclub.
14. Pay taxes at some point!

Otherwise skip point 5 to 10 and head to an airport and cash in some there and return whenever you need too, then continue to point 11 as above.......

Originally Posted by Socata 850

I have been mulling this point over in my mind and wondered where it would take us if it were to continue. I starting subtracting five points a day for the number of days that the CBI will hold auctions for the remainder of this year. When I came to the number 1365 the date corresponded with the eve of the IAMB meeting on the 12th of December. 1365 is the designated level that the IMF said it wanted the Dinar to be at, sometime near the end of 2006. If the IAMB turns over total control of the CBI to local control, and the Dinar is at 1365 to the dollar, then the IMF requirement will have been met, excess Dinars will have been pulled from the economy, inflationary pressures will have been mitigated and the CBI will be free to set the value of the Dinar at whatever level they want. We will see what happens in tomorrows auction and then again on Sunday and Monday to see if the trend continues. I'm thinking that the 12th of December and the IAMB meeting is one of the keys to the reval.

Although your thinking here makes total logical sense Socata from a schedule standpoint, how will that month-long wait until Dec 12th be affected by the fact that announcements have already been made by certain dignitaries about their intentions to increase the dinar value? That would give many RICH people plenty of time to stock up with dinar. Thoughts?

Originally Posted by Lakeway

I realize that the amount of DINAR in speculators hands may seem like a shiitepot full of cash, it is really of no consiquence to the CBI. In a few days, after this thing takes off like a tom cat with his hind end dipped in turpentine, all the currency that we speculators cash in at our local banks, there will be someone else ready to buy it up. I don't know who or what that will be but.... The point being that the CBI will not have to pay for it. Thats the way I understand or believe to understand it anyway..... Go Baby GO!!

I understood from something I read/heard several months ago that many countries, such as China, Egypt, Japan, etc had purchased BILLIONS of Dinar to use in purchasing Oil from Iraq.
Anybody else have thoughts on this?

Originally Posted by DinarDarling

I understood from something I read/heard several months ago that many countries, such as China, Egypt, Japan, etc had purchased BILLIONS of Dinar to use in purchasing Oil from Iraq.
Anybody else have thoughts on this?

No thoughts other than I have heard this also.
Makes sense though - get oil at a discount!

Originally Posted by worf

I am kind of wondering the same thing. My fear is that they are going to let go to the other cbi rate announced earlier this year of 1 dollar = 1365 dinars by the end of 2006 without actually r/ving big time. I hope they aren't going to do that because as already discussed at ROLclub, it would be way too little too late. Hopefully what, this is really showing is, as they pull excess dinar out of the market, the value is increasing. If this is true, it makes me wonder why in the !@#$% did they wait so long and cause so much suffering and chaos?? A far better scenario would be to pull out liquidity from the economy as discussed by WM., and then r/v to a really good high rate!!! That is what I hope for anyway!!!

worf

or, they are trying to get it to the number they want to take the zeros off of??

on second thought, i think gettin to that rate they predicted might be where they are headed with this.

Originally Posted by Socata 850

I have been mulling this point over in my mind and wondered where it would take us if it were to continue. I starting subtracting five points a day for the number of days that the CBI will hold auctions for the remainder of this year. When I came to the number 1365 the date corresponded with the eve of the IAMB meeting on the 12th of December. 1365 is the designated level that the IMF said it wanted the Dinar to be at, sometime near the end of 2006. If the IAMB turns over total control of the CBI to local control, and the Dinar is at 1365 to the dollar, then the IMF requirement will have been met, excess Dinars will have been pulled from the economy, inflationary pressures will have been mitigated and the CBI will be free to set the value of the Dinar at whatever level they want. We will see what happens in tomorrows auction and then again on Sunday and Monday to see if the trend continues. I'm thinking that the 12th of December and the IAMB meeting is one of the keys to the reval.

I got a lot of slack on Sunday/Monday for saying "today is not the day" and this is why.

I know we all think the 10k has an influence (btw they have not been handed out) and it should - it makes sense. However logic has been left behind before.

The HCL, ICI and IMB are all good things for a RV so i think it is close....

Originally Posted by Vipor

Although your thinking here makes total logical sense Socata from a schedule standpoint, how will that month-long wait until Dec 12th be affected by the fact that announcements have already been made by certain dignitaries about their intentions to increase the dinar value? That would give many RICH people plenty of time to stock up with dinar. Thoughts?

Well,I think the rich people, and I mean the really rich people have already got beaucoup Dinars. Remember that meeting some months ago, I believe it was in Aspen, CO. when all the big wigs of industry were there. Forbes, Chaney, and I believe Maliki was even there after he delivered his speech to Congress, as well as many other well to do's. It is my opinion that the final plans for the emergence of Iraq onto the world stage was set at that meeting. And if it wasn't set there, then the final touches of the plan were put into place. Remember that NOBODY was allowed into that meeting, and there was never a word in the press. At any rate, the more people that want to purchase the dinar the better. It's just like any other commodity. Soon there will be fewer Dinars to be had and the demand will be greater. It's just like the girl standing on the dock when the aircraft carrier comes in. The more the Iraqi's can hype the Dinar the better it is for the ultimate value. This is a well thought out plan. It may look a little hurried right now, because I think Maliki got caught dragging his feet. Supposedly the largest oil reserve in the world is at stake, the people in charge are not going to let that slip away , AND the value of the Dinar is intrigal to their plan. THE HIGHER THE BETTER.