Frank26 No one knows how much time you’re going to have in order to trade in the 3 zero notes. But the IMF does regulate all central banks and forces them to give a time frame. That last time this happened with the Iraq dinar was about 10 years ago. The 50 note. The CBI came out and said we cancel it…They gave everybody 3 months. Now they’re all null and void. You can’t exchange for anything.
Kaperoni Over the last few weeks Iraq is perpetuating that they are now moving forward with diversifying their economy in opening their financial system to the world. We will have to wait and see if they have made the necessary steps for those results.
Fnu Lnu I have heard repeatedly, ad nauseam, about bank redemption centers being trained to recognize counterfeit Dinar…There is no such training being done…PERIOD! …De La Rue provides…computerized equipment that will authenticate and verify banknotes for 140 different countries. No human eye can be trained to see the hidden security substrate and embedded features…One merely needs to be able to feed currency into a machine and it will do the rest…The banks have been using this machinery for years and have been well trained to do so. There is NO training going on.
Pimpy You guys got to be careful. When everybody’s like, ‘Oh, yeah we want the deletion of the zeros’. Oh no you don’t. No you don’t…You’re all cheering it on. I was like no, don’t cheer it on. That’s not a good thing for us as investors. I know they’re out there swearing up and down that it’s off the exchange rate but it’s not. The zeros come off the currency.
Wolverine [via Judy Byington] “I have been told to shut up and I can accept that. What I can tell you is that they said that this will be a Golden Week. I don’t want to be a part of anything that would disturb the process. At the moment it is all good. I’m very confident that this is the week that we have been waiting for. Have a beautiful, beautiful day.”
Clare Article: “After a break of more than 9 years.. the resumption of a government trade meeting between Iraq and America”
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television says Iraq is now producing 1 million liters of gasoline on a daily basis with the new refineries…They are saying we will have enough gasoline for our self sufficiency of our county and also for global trading on the market…
Walkingstick The value of their currency is determined by the resources tapped and untapped. The futures of Iraq are astronomical. You have no idea, investor of the Iraqi dinar, what you have invested in. Phosphates…sulfur…diamonds…gold…silver…oil, gas, all the mining companies are lining up and it’s all these industries, they are the factors that will drive the dinar up internationally.
MarkZ [via PDK] The crackdown has been extreme on leaks …Which is probably the best news of the day. I personally think they are trying to keep things quiet right here at the finish line.
Samson Article: “After a break of more than 9 years…the resumption of a government trade meeting between Iraq and America”
Paulette Community Comment: “Iraq on May 9 ascends to FULL membership in the WTO” I hope you are correct regarding the WTO. However, the documentable facts and articles regarding this issue would say otherwise. Don’t misunderstand, the documentable facts and articles are EXTREMELY positive. Iraq, under Sudani appears to be serious about becoming WTO members, opening the country to International trade, moving from a Rentier Economy to a Market Economy and finally implementing the Delete the Zeros Project. Everyone should be excited even if it takes months more to accomplish.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: They said our success is from the visit to the United States of America because it lifted almost all sanctions on our banks and others are close to being lifted too. FRANK: They also delivered the new exchange rate.
Mnt Goat Can you see just how close Iraq is to fulling Al-Sudani’s promise of making the dinar a proud national currency once again. Also remember too that he did say it “was” valued over a dollar already…
MarkZ [via PDK] Question: Mark what is your gut on what the IQD will revalue at? MarkZ: My gut or GUESS is around $3.90 or so…just a guess.
