Pimpy People always think I’m being negative about the Iraqi dinar. I’m not. I’m trying to make sure people are grounded…I tell you guys this is what we need to look for, this is what we need to deal with and we don’t want the deletion of the zeros. We do want the Iraqi dinar to continue to increase in value without deleting the zeros. That’s how you’re going to make your money.
Frank26 It sure looks like it’s happening in the next five minutes doesn’t it? I need you to be realistic. This is the Middle East. Yes, what you’re reading [Articles] is past tense. What they’re doing is implementing it with the banks around the world.
Sandy Ingram Do not purchase any currency with Saddam’s face on it unless you purchase it as a collector. Purchase currency that is now in circulation in Iraq.
Clare Article: “The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates ‘illegal trade‘ ”
Samson Article: “Central Bank Governor Announces Understanding with US Treasury to Review Sanctions on Banks”
MarkZ It’s been exceptionally quiet on the RV front overnight…Some have anticipation for this weekend…I hope they are right.
Pimpy I was hoping you guys caught this part of this paragraph… Article quote: “The Iraqi government is currently weighing the question of changing the currency.” That should have told you everything you should have known right then and there…They‘re talking about deletion of the zeros. If they’re deleting the zeros off of this (1.32) then they’re also deleting the zeros off the currency…That’s exactly doing critical thinking which is what you’re going to need in order to get through this process.
Frank26 [Iraq boots-on-the-ground report] FRANK: You are within arms length of receiving your new exchange rate with your lower notes because it is in print. More importantly these words come from the right people that you can trust…Coming to you with the holy solemn oath promised that your prime minister bears witness that you will receive purchasing power and lower notes… FIREFLY: Yes…it is exciting. When we saw Alaq come on television and talk to us we knew we were going to be told more…
Babysmom THE ONLY DIFFERENCE BETWEEN CIRCULATED AND UNCIRCULATED CURRENCY REALLY ONLY APPEALS TO COLLECTORS. COLLECTORS WANT UNCIRCULATED CURRENCY BECAUSE IT’S IN PRISTINE CONDITION AND THEY CAN FRAME IT. FOR OUR PURPOSES WE ARE GOING TO BE EXCHANGING IT WITH THE BANK SO IT DOESN’T MATTER IF YOU PURCHASE CIRCULATED OR UNCIRCULATED AND OFTEN CIRCULATED IS LESS EXPENSIVE TO PURCHASE.
Walkingstick There were a few statements released by the GOI officials regarding their currency. The coming value at the onset of the release was revealed. That value was disclosed at/in negotiations…
Militia Man Iraq is going to go through that industrial revolution because they’re going to rebuild the country. The evidence is quite clear. The fascinating part about it is we had Al-Sudani/his government say they were going to do the project to delete the zeros…They were going to have the Iraqi dinar be worth 1.32 dinars to the dollar. That equates to about $0.76. Those folks that talk about a LOP, how do they explain that? They can’t because that’s not what it is.
Pimpy It [the article] doesn’t say the exchange rate is $1.32, more likely what it is Al-Sudani will change the exchange rate where you can buy 132 dinar for $1. That’s a 90% increase. I don’t know about you but I’d be pretty happy with that. I’d be content with that. I know a lot of you are expecting million, that doesn’t mean it can’t happen but if we’re allowed to keep this currency that we have right now with all the zero and they change the exchange rate I’m going to count my blessing and sell them because I’m not going to take the risk of hoping for a higher exchange rate and then turn around and delete the zeros. $37,000 is not too bad for less than a $2,000 investment.
Frank26 I made a mistake…$0.76 was correct. I apologized…It’s 1.32 to $1 which comes out to the $0.76.
MarkZ [via PDK] Comment: There is currently a bond crisis brewing. MarkZ: Yes there is…and years ago one of the key players in the RV told us to keep our eyes on the bond market and when it finally gasps its last breath…that is when we go… It is certainly troubled enough to gasp its last breath.
Mnt Goat …the Chairman of the Finance Committee stressed, and I quote: “the importance of following up on the economic file and monetary policy, based on the supervisory aspect, and finding appropriate solutions to the obstacles facing the work of the Central Bank.” What they are basically telling the CBI is to follow up and move more aggressively on this issue of increasing the value of the dinar...I believe there is enormous pressure to get the dinar revalued and conduct the 3 zero note changeout (The Project to Delete the Zeros).
