is everyone still expecting aug 2nd to be the reval day:new:
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is everyone still expecting aug 2nd to be the reval day:new:
Aug. 2 2012 :rofl::rofl::rofl::rofl::rofl::rofl:
a lot of people on here think it has to Rv on or before August 2nd which is the ISX opening supposedly to foreign investment or the country of Iraq may be bought for pennies....or so the theory goes....will be an interesting next 10 days thats for sure...hang in there...hopefully this roller coaster ride might be coming to an end.....Pat
we shall see...............
I think there may be a Forex launch on or about the same time as the ISX opens. That's what I heard anyway.:biggrin:
I believe that Aug 2 will pass with no fanfare or accomplishment just like 100% of all benchmarks or promises made by Iraq. Those illiterate, corrupt and lazy leaders just can't get Anything done Ever. Same old same old I am sorry to say. I hope they prove me wrong though.
Per the Official ISX website, the opening of Iraqi Stocks to foreign investment is still 8/2/07. Here's the LowDown on the ShowDown:
http://www.isx-iq.net/
(Notice)
We received many emails from non-Iraqi investors asking about (when foreign investment starts in ISX? is it really on 8/2/2007?).
The answer in simply yes, and it's able to all to visit ISX website and see the procedures, rules and requirements, also visiting Brokers Emails and making contact with them to do buying orders which they wants.
Sounds like we might be in for a good surprise at the end of the month.
Tim
I like surprises I sure hope the positive rumors are right! Im due for a little Yippee, Woot Woot!:woohoo::waiting::woohoo::party:
I think most of us on here could use a yippee and woot....it has been a long haul [for most of us investors]...i sure hope by this August 2nd that we have a RV...anyhow its at pennies...because it will be a start.....Pat
I anticipate....many without a surprise felt or expressed but with a loooong FROWN on their :redface: foreheads :sads:included...:toofunny: I just hope yours don't turn "red" since by then, the E4L.Biz have launched theirs and moving ahead as scheduled!
Naaahhhh, lets dig up that ole Turner Movie..."Come September" instead with Rock Hudson and Gina Lolobrigida and Bobby Darin too if any of you still remember this movie... that's to calm some disappointed Dinars drooling currently...:biggrin::noserious
:flame:Hot August Night:flame: will suit most to sweat it out after being again taken for a ride by all these predictiong Dinar messiahs we have here...:fryingpan
Even if there is no "big" RV on 8/2, I wonder if it's possible this could be the start of a faster grow for the dinar. You would think the exchange rates would start growing quickly with foreign investment implemented (??)
At the rate we're going right now, it'll be a good 10 years before it's at 1:1. I just can't see that happening. Any thoughts out there?
I agree, IMO a slow grow wont do much good. I beleive a reval in parity with neighboring countries would be the best. A slow grow might signal deep pocket investors especially with some of these laws going forward. I also think that a decent reval will best benefit the Iraqi people.
It will happen, either before the ISX opens Aug 2 or in the long term as others have said, but I don't think 10 years is what we will wait. If we have to wait any time it will be 6 mo to 12 mo. Patients Patients
about all we can do is wait and wonder, i'm completely up in the air with my thoughts on isx/rv, before, after, together? Who knows.....at least one good thing, we don't have a long wait!:party:
This post makes perfect sense to me. A faster (slo-grow) revaluation post ISX-foreign implementation, even faster post HCL. No overnighter, and yes there will be massive speculation once it goes FOREX. The GOI and CBI does not appear to care about this. Hang on to your dinars!!!
Though slow at times they moved the value about 200 points in the first half of the years (plus some of November and December). If no Overnight reval, and taking into consideration the statements about 1000:1, I see them moving to around 1000:1 by the end of the year. From there we are looking at about a 250 point increase every six months though most likely not as a steady increase but as a number of decent jumps. JMO.
:tongue: I didn't do the math...I was just exaggerating. Two years is certainly better than 10.
I was thinking faster slow-grow, as was mentioned in a previous post. That would be a pleasant compromise between the "Big Reval" believers and the "slow grow" believers, wouldn't it? I would greatly enjoy seeing nice big leaps in the exchange rates during the next 6 months to a year. :tongue:
On a math point: you cant say it will fall 'x' points consistently.
Im not good at numbers but going to the bottom of the scale:
Going from 2 iqd = 1 usd to 1 iqd = 1 usd may only be a 1 pip fall. but its a 100% increase.
going from 1249 iqd = 1 usd to 1248 iqd = 1 usd = nothing like 100% increase.
Good point, and thats why the 1249 down to 1000 dinar drop is rather meaningless in the grand scheme. Its the 1000 up to 100:1 rise in value that will spur the greatest speculation, because potential profits will be huge over a short period. If the CBI wants to curb the run on the dinar that belongs to the Iraqi's over the 1000 dinar down to the 100 to a buck run they need the overnight/sharp RV in a big way. Im hoping for a minimum of 10 cents by EOY or else this will have become a crappy investment.
You make some great observations. I believe the term "Slow Grow" scares people that we won't see rather rapid huge profits. Keep in mind this still all depends if the security situation is really reaching a turnaround point AND if the economy continues to upgrade. But Slow Grow IS growth. It IS revaluation because revaluation IS defined as positive movement by a Central Bank of currency exchange rate. (And clearly devaluation would be movements in negative direction). The better term, I suppose, would be Steady Grow. Steady Grow would be positive revaluation and can vary from Slow pace to moderate pace to a quicker (fast) pace. No matter how you term it, this is how all World Nations currencies work!!!
On November 1, 2006 the Auction price of IQD was 1470 IQD to 1 USD. On Jan 8, 2007 the Auction price was 1320 IQD to 1 USD. So in a short 2 month span IQD value rose swifty (Steady Grow) over 100 Dinar!!! Tonight it is at 1246. So don't be adverse to Steady Grow, thus far it's the only theory that has produced any results. http://www.cbiraq.org/C.B.I.%20FOREI...20AUCTIONS.pdf
And this is exactly why we discuss and debate these things!!! The term Slow Grow is tainted in many peoples minds, especially since they've been conditioned for nearly 5 years that an overnight astronomical Re-Val (or as you term it "Big Reval") was just around the corner. Steady Grow GETS US THERE!!!! Rolclub, a beer for you all: :beer::beer: You just made my weekend because we've made what I'd consider a huge step forward!!! :cool:
STEADY GROW RULES!!!!!!!!!!
New motto: Steady Grow IS better than No Grow!!!
I would not dis-agree that slow grow rules, but what do you think about the possibility of the ISX opening in conjunction with a slow grow mindset?
I am having a hard time understanding how the ISX can open to foriegn companies with the rate so low. I know many people who would sink thousands in, and that is a drop in the ocean compared to Big Time Investors ( like Buffet, Trump, etc.)
What is your take munny??
I meant STEADY grow, not SLOW grow, although slow grow seems to be the trend. sorry
Slow grow, steady grow, overnight RV...they all work for me as my dinar investment did not force me into hunger or nakedness!! :banana::party:
I stay in intermittent contact with a few fellow ISXers. Word I get is 8/2/07 will happen (it's still on the ISX website) but not much else will change. You have to realize that it's not going to transform overnight into "Amera-Trade" or the New York Stock Exchange. New foreign investors will still have to go through the same process of opening a bank account and buying stocks in a similar manner as those of us prior to 8/2/07. We might see a good "bump" up in stock prices (already have the past 4 or 5 weeks) but the big movements will happen when (if) ISX goes electronic slated for sometime later this year. Keep in mind the banks are still working on computerization and internet banking. Let's see what happens, we are about 6 days away. Best of luck to all in this very exciting time!!!!!!!
well thats still good for me cuase it gives me time to still get in on the isx..working on my passport now..one thing i dont think alot of people grasp is.. once you purchase SHARES of a stock with your iqd then you dont hold the currency any longer.. if it does indeed rv high..you will miss out because your shares values will be adjusted..just as if you bought a car in iraq with your iqd and then they revaled, the currency would be worth much more but your car would still have the same aprox value in us dollars.. does this make any since?? thats why i cant understand people sending iqd to warka to buy stocks with.. hold on to your iqd and wire cash to warka..then convert it to iqd to buy your stocks..the isx is a great investment in my opinion..but to use it to benefit from a rv you would have to hope you multiply your shares worth many times..and then sell them back for iqd B4 it revalues..which would be almost impossible timing unless youve really got sourses..lol i think both should be looked at as seperate investments.. both having large potential good luck to all ..p.s. wheres shotgunsussie?? get tired of this forum to?? good luck all:ro_emote:
Makes perfect sense to me, thats why we have tried to buy as many shares as possible pre Aug 2nd. Unfortunately our last two buy orders are on hold until after FIL (+/- the 2nd, according to Mr I). I agree if RV happens after FIL then shares will have to be adjusted (reverse split). No matter, its either currency or shares of stock that will make your profit for you, I feel like they will roughly work in tandem, forget the people that think that shares will go through the roof without currency value. NO WAY.
With the stocks you will be able to buy/sell to your hearts content to gain a foothold on the best stocks available on the ISX. Remember, the best investment strategy for the next couple of months will be equal parts, paper at home, balance of IQD at Warka (or other ME bank), and shares of ISX.
if you buy a stock for 1 dinar and there is a rv and the stock goes to 2 dinar and you sell, you wind up w/2 dinar. a rv doesnt negatively affect the isx investors.
I believe that what they're saying is that share values will be adjusted when there's an RV so, if you had 100 shares bought for 1646 dinar (1 USD), you'd later have 1 share worth 1 dinar (1 USD (assuming 1:1 RV)) and not 100 shares worth 1 dinar (1 USD) each for $100 value.
I expect they will make some adjustments, too, but it won't likely be that simple. You have to remember that a share is exactly that - a share of the ownership of the company in question. The number of shares issued dictate the portion of the company owned by the holder of that share. If there are 1,000 shares outstanding, then one share is worth 1/1000th of the company. If they do a 10:1 reverse split, the number of shares are reduced accordingly so there will be only 100 shares outstanding, each worth 1/100th of the company.
The company makes no additional money when shares are traded on the market - only when they issue new shares and that dilutes the relative value of each share previously in existance (how big a share of the company it is) BUT the cash increases the net worth of the company, so the dollar value of the share should be fairly constant, depending on what price they get for the shares. Ultimately, the market value of the shares depends on the market and that depends on the traders' view of the potential of the company.
So, getting back to the RV, and supposing that there is no adjustment, you need to look at how the RV will change the net worth of the company and how it will affect it's potential. Companies (such as banks) which have a lot of cash assets will get a huge leap in net worth unless they split (not reverse) and issue many more shares without drawing in new cash (i.e. divvying them up amongst the company board members). They can't do this without the agreement of the current stockholders unless there's something in the policies and rules of the company to allow it.
I'm no expert, so that's the best I can do for an explanation. I can't help thinking they will have some other trick up their sleeves that I haven't thought of...
It depends on how big the reval is. Maybe a little reval doesn't have much of an effect, but a significant one of say 1 to 1 would. The value of stock wouldn't grow anywhere near as high as the value of Dinar would. Stock should actually be revalued in fewer Dinar, after a significant reval, to reflect the new strength of the Dinar against the Dollar.
The value of stock is based on the value of a company's assets and the millions of shares they have on the market.
A company worth $10 million dollars U.S. today (10 BILLION Dinar) would still be worth only $10 million dollars U.S. ( only 10 million Dinar) tomorrow after a 1 to 1 reval.
The value of a company's stock would need to be expressed in an amount of Dinar, after the Reval, that was now the equivalent of that same $10 million dollars U.S..
Just to use round numbers. If a company worth $10 million dollars U.S. had 1 BILLION shares of stock in circulation, they'd be worth roughly 10 Dinar each today, but only 1 FIL after a 1 to 1 reval.
No investor in the ISX loses any of their investment. The value of their investment just stays the same. Their 10 Dinar stock today and their 1 Fil stock tomorrow would both be equivalent to 1 U.S. Penny on their respective days.
Conversely, an investor holding cash Dinar would make 1,000 times their investment after a 1 to 1 reval.
That's just how it works. Buying stock is more like buying property or, as another member said, a car.
That's the risk you take.
Currency is currency. Investing in currency is as risky as investing in stocks, they're just different risks.
For me, I believe in the possibility of a Reval of the Dinar. It may not be 1 to 1, but I still believe there has to be some kind of a Reval.
I'd be happy with 1 penny on up, but I don't see how anything less than 1 to 1 helps their people get their lives back on track and brings peace to their Nation. JMO. :smile: