Thread: "RollsRoyce . . . June 25 Tidbit!"

Originally Posted by DesertWolf

We do know that there was a good value to the IQD before the war. We know that the GOI needs to RV and a number of reports from Iraq have stated that there are those that want the RV to come in at the old value to even a higher rate.

The only three things we don’t know are, date, count, and amount! So why sweat it?

DesertWolf

Fair enough but the rate that Saddam set was an artificial rate that was only valid in country, wasn't it? If it does rv, there's more chance of it going back to the value just before it went downhill i.e., 0.31 cents...

Originally Posted by breakeven

Fair enough but the rate that Saddam set was an artificial rate that was only valid in country, wasn't it? If it does rv, there's more chance of it going back to the value just before it went downhill i.e., 0.31 cents...

that is a very real and plausable possibility!

Originally Posted by breakeven

Doesn't it boil down to which currency the dinar is pegged to? If it's the dollar, couldn't they just quote in dollars? Would appreciate an explanation as I cannot seem to get my head around it...Thanks in advance.

its common sense to me, selling a stock at a rate of .0008 as opposed to 1.20 or higher seems rather pointless when you are trying to establish an economy. we also have the pension law which is being amended which has the rate as a definate must as we have all concluded as well. and to establish an economy with a dinar that has no purchasing power is like pourin water into a bottomless jar.

the issue comes about when everyone wants it to have happened when it was PROPOSED to have happened and for some reason a war doesnt operate on a time schedule very well. if it could have been pre-determined what all the different gangs were gonna do next then we could have skipped this forum all together and came back on the sure date.

Originally Posted by breakeven

Fair enough but the rate that Saddam set was an artificial rate that was only valid in country, wasn't it? If it does rv, there's more chance of it going back to the value just before it went downhill i.e., 0.31 cents...

that is .31 dinar to the dollar which is 3.+

the rate that saddam had set had always been said to be false but since that time the gold that backed all of the dinar at that rate has been discovered in switzerland which means that his rate was very much supported and was closer to the real rate than has been suggested.

Originally Posted by breakeven

Fair enough but the rate that Saddam set was an artificial rate that was only valid in country, wasn't it? If it does rv, there's more chance of it going back to the value just before it went downhill i.e., 0.31 cents...

Interesting,

The rate when set by Iraq under Saddam was a valid rate given the expert opinions of the best economists at the time, so it was never an artificial rate, it was simply an unrealistic rate given the embargo and trade restrictions applied by the free world. Some seem to think Saddam pulled the figires from a hat, and this is not true.

It was an accurate rate calculated as would be done with any other country in the region with similar assets and reserves, but Saddam's actions of aggressive behavior against its neighbors is what devalued rate in the eyes of all but those directly inside Iraq.

Sure will be interesting to see what the figures will finally be restored to, but as I have said all along, I don't expect to see more than .32 to each dinar at start, and then it will all depend on the infrastructure and how quickly oil production is ramped up, as well as where oil prices are per barrel.

Good luck and health to all, Mike

Originally Posted by Offshore-Wealth.com

Sure will be interesting to see what the figures will finally be restored to, but as I have said all along, I don't expect to see more than .32 to each dinar at start, and then it will all depend on the infrastructure and how quickly oil production is ramped up, as well as where oil prices are per barrel.

Good luck and health to all, Mike

sssshhhhhh.....

Originally Posted by Din Diesel

It is not necessarily your legit questions, it is the tone in which you ask them.
Based on my observations of your responses, your tone (with all due respect) is arrogant, condescending, and a bit on the smart-alecky side.
If you perhaps rephrased your responses in a polite and non abusive tone, you would not get such rude responses. (IMHO)

Thanks for reading.

How you can get all that from written words on a computer screen is beyond me.

It's your tone the tone is all wrong. Gert B. Froe from Joe Dirt.

Originally Posted by Offshore-Wealth.com

Interesting,

The rate when set by Iraq under Saddam was a valid rate given the expert opinions of the best economists at the time, so it was never an artificial rate, it was simply an unrealistic rate given the embargo and trade restrictions applied by the free world. Some seem to think Saddam pulled the figires from a hat, and this is not true.

It was an accurate rate calculated as would be done with any other country in the region with similar assets and reserves, but Saddam's actions of aggressive behavior against its neighbors is what devalued rate in the eyes of all but those directly inside Iraq.

Sure will be interesting to see what the figures will finally be restored to, but as I have said all along, I don't expect to see more than .32 to each dinar at start, and then it will all depend on the infrastructure and how quickly oil production is ramped up, as well as where oil prices are per barrel.

Good luck and health to all, Mike

so are you saying that 1 NID will possibly get you 3+ USD!

Originally Posted by screwball

so are you saying that 1 NID will possibly get you 3+ USD!

No, what OSW is saying is, he has always and still is hearing .32 for the dinar. Which means from what he is and always has heard is that each dinar from the start, can be worth $0.32 each Dinar. So if you had a million dinars and his info comes to reality, it would then at the start be worth $320,000.00 per million.