Pimpy We’re dealing with two different things… We have what’s known as the nominal value, which is the numbers on the bank notes and then we have an exchange rate value. That’s two different things.
Militia Man The Iraqi dinar is not a scam. It’s a real currency. It’s a real country. It’s a real government…It’s going to be a real component to the international financial world…
Frank26 Question “Should we exchange all our dinar at the first meeting or just a little amount at a time?” That’s your prerogative. You have to make your own decisions. I’m not going to tell you what to do. Let’s pretend you have a million dinars. I wouldn’t exchange all of it. Why? Because the Iraqi dinar is going to float. It may float by itself or it may float in a basket but either way it’s going to gain value in the international market. Whatever rate they come out at I’ll exchange at that rate and I’ll hold back some of it because as time goes by the rate will increase and I’ll make more profit. [Dinar Guru Note: Consult your financial advisor team to build the best exchange strategy for your unique circumstances.]
Paulette They [Central Bank of Iraq] have 135 tons of gold which has a value of about 7.5 billion USD…not a whole lot to back trillions of IQD…I know Iraq has a lot of gold in the ground but that is not property of the CBI.
Sandy Ingram I would say [They] do not want us to have wealth from our investment in the Iraqi dinar. Why? Because it would become too difficult for them to continue to control us. We are the ones they do not want to give power to…When I…imply Iraq will go on to readjust its currency and we may not be privileged to participate in the profits this is where I am coming from. Iraq readjusting its currency does not mean the country will join the global financial platforms. Saddam never did and his currency was worth 1 dinar to 3 US dollars…Will they allow the people of Iraq to connect with the people outside of Iraq on the Forex market?
MarkZ [via PDK] I believe we are just waiting on a REER (Real Effective Exchange rate) right now. The question is what are they waiting for on the timing? I hear from banking contacts, government contacts, A Ministry of Finance contact in Iraq…that they just need the announcement of the REER. Question: So we wait for the REER- and then it will float up? MarkZ: Not necessarily. If the rate is high enough …and we believe it will come in higher and not float…We believe the REER is coming in strong.
Pimpy This is [from] the World Bank data bank – Real Effective Exchange Rate is the nominal effective exchange rate in measure of the value of a currency against a weighted average of several foreign currencies divided by a price denominator or index of costs… Iraq already reports a real effective exchange rate. They report it all the time…It’s reported to the IMF regularly…
yada We are practically sitting on it, all things in Iraq are in place, markets are set to explode with the increased spending in Iraq, and the REER is about to be seen. Before 4-1-24
Militia Man The 15th of April, I’ll tell you this, most likely what…Sudani, Alaq, all those folks in the Ministerial Council of Economics, they’re working their tails off to make sure to make sure they’re ready, if not done, well before Al-Sudani shows. Because if he’s coming to town and he wants bargaining chips and I’m pretty sure a real effect exchange rate is going to be one of those bargaining chips.
Mnt Goat I know it’s been a very long road for us investors but we will get to the end of this and we can now see the writing is on the wall…we must…follow the 2011 plan and it is going to lead us to the RV, whenever that occurs. We can see now their next step …we can clearly see it is VERY, VERY close, according to the interview with Salih.
Frank26 Minister of Finance..in Washington DC. He’s not there to see the president of the United States. He’s there to deal with the exchange rate of their country not with the American dollar.
