RV 2012!

[notorial dissent]

When they're making it up out of whole cloth as you go along, what do you expect??

[Deep Knight]

3-5-2012 Guru Foghorn Great news...My contact at the US Labor Dept says we should hear some interesting news this week regarding the IQD. I asked what type of news...he said the IQD is supposed to finally go live this week!I also spoke with my brother tonight (V.P. Big Four Bank) has as well said the information they are receiving is NOW pointing to the Iraqi Dinar being revalued this week.

WTF???????

Fogbrain's brother is a VP at a Big Four Bank and he still thinks he's getting rich off Dinars?

A new low for dinaridjits?

Yes, but it's hard to hear the details of what his brother is saying because apparently his brother lives where he gets his information, his butt.

[Deep Knight]

3-7-2012 Guru Kaperoni "...the exchange rate between the new banknotes and the old ones would be 1:1,000.” This is an extremely powerful statement. This is telling us no LOP or re-denomination is going to happen. Because they are telling you the difference between the “old and new banknotes”. In order for this to be true, the notes have to be honored at the printed face value. If, for example, a LOP or re-denomination occurred (changing the value), they would state the exchange rate between the new and old notes would be 1:1, meaning they now have the same value or a neutral event. But that is not the case. They are clearly stating 1:1000. “The objective behind this move is to appreciate the value of the Iraqi dinar against the U.S. dollar..." Clearly, this statement confirms...that the dinar is appreciating (RV). This is confirmation of the revaluation!

What the @#%$? The statement clearly said that what they call an RV is simply substituting new banknotes where 1 New Dinar is equal to 1000 old. The mind boggles at the twisting it took to reinterpret this. Can anyone be so stupid they believe such doubletalk? (Answer, "Yes, all of 'em!")

[Gregg]

It gets even better.

A few of the gurus began pimping a a couple years ago for Warka Bank, a local bank, where you could (for a fee of course) set up your in country account to hold your dinar. Actually, if you thought it was going to revalue or anything, this wouldn't be terrible advice, having a local account, that is.

Anyhow, this past week, Warka was placed in receivership by the CBI and while a few wondered what the implications of this were, the real people in the know explained how this was A GOOD THING, because now the government was taking over and their money was that much safer!

Does these idiots think FDIC insurance covers shaky banks in third world shitholes?

[notorial dissent]

Well, nice to see that the dinaridjits are well rounded idjits, politically, economically, financially, and mathematically. Not terribly surprising, but consistent.

I hadn't heard about Warka, but if they were pulling that sort of thing, they were more than likely pulling some other, and bigger/badder things that the CBI really didn't like, which is probably at least as much of the reason they got shut down. I kind of wonder if Iraq has anything like FDIC insurance, or if the depositors are just out the loss, like it used to be here, in the not so long ago, bad old days here.

[Gregg]

I kind of wonder if Iraq has anything like FDIC insurance,

I don't think so, and I'd bet any coverage they do have extends only to citizens.

[Deep Knight]

CONGRATULATIONS MILLIONARES! GET THE DUCT TAPE OUT!

Thursday, March 8, 2012
Iraqi Dinar, recently being said: ...
The Rumor Mill News Reading Room
Posted By: hobie [Send E-Mail]
Date: Wednesday, 7-Mar-2012 23:48:38

Hi, Folks -
Found at dinarguru.com:
=====
3-7-2012 Guru Jonnywg THERE ARE MORE CONFIRMATIONS OF THE EARLIER POSTS...OTHER INTEL PROVIDERS HAVE ALSO RECEIVED THE INFO...WE WAIT FOR THE RATES TO TRICKLE THROUGH THE SYSTEM...NO NEWS ON A HIGH OR LOW RATE...I EXPECT LOW AROUND $4 +. THE MAIN THING IS WE HAVE TO WAIT UNTIL IT IS ALSO LIVE IN THE BANKS...SO WE CAN CASHIN...THE RATES WILL BE POSTED TONIGHT.

3-7-2012 Guru Okie_Oil_Man ABOUT 2 HOURS AGO I LAST POSTED THAT I WAS SEEKING CONFIRMATION AND PROOF OF OUR BLESSING COMING TO FRUITION----WELL----I RECEIVED ABSOLUTE CONFIRMATION AND WE ARE ALL THRU EXCEPT OUR BANKINGARRANGEMENTS THAT WE WILL OR SHOULD BE ABLE TO TRANSACT TOMMOROW---EUROPE IS HAVING THE R/V PARTY AS I SPEAK--THIS OCCURED ACCORDING TO SOURCES ABOUT 4 HOURS AGO (YES AFTER BANKING HOURS) TO A LARGE GROUP OF INVESTORS--WE'RE NEXT!!!!!-- YES---THE RATE IS WHAT BULLDOG AND MYSELF HAS POSTED PREVIOUSLY---IF THIS POST DON'T LIGHT YOUR FIRE---THEN YOUR WOOD'S GREEN----CONGRATULATIONS MILLIONARES.

3-7-2012 Guru Poppy3 i really think they will get things done this time and think they are making every effort to do so by moving leadership around and into positions to achieve some movements in directions to futher stablize the goi for the future...no one knows yet what the timing is but i think everyone realizes at this point they are determined to get their country on track for a very successful future.

3-7-2012 Guru Jonnywg as at 8 pm est the rates are being processed as stated...we await the results...there is no new intel to give.

3-7-2012 Guru Cap1 [is this another fire drill or real deal?] REAL DEAL. GOT ANOTHER CONFIRMATION ABOUT THE RATE BEING LIVE...GOT TWO. WAITING ON TWO MORE. YOU MUST REMEMBER, WITH ALL OF THE TURMOIL IN THE UST OVER THE LAST 7 DAYS, ALL HAD TO BE RELOADED...THAT'S WHY IT HAS TAKEN LONGER TO GET TO US. WE SHOULD SEE IT SHORTLY ON THE TELLER SCREENS. GET THE DUCT TAPE OUT... YOU'RE GONNA NEED IT TO TAPE YOUR SOCKS UP! CAUSE THE RATE'S GONNA KNOCK EM OFF OTHERWISE!!!

3-7-2012 Guru Okie_Oil_Man AT PRESENT I AM IN THE PROCESS OF GETTING CONFIRMATION AND ADDITIONAL INTEL REGARDING OUR BLESSING. INFORMATION FURNISHED LAST NIGHT IS BEING VERIFIED OR DE-BUNKED. IT LOOKS VERY POSITIVE AS OF THIS EXACT MOMENT IN TIME. I WILL NOT OFFICIALLY CALL THE R/V UNTIL I GET MORE CONFIRMATIONS AND PROOF THAN I NOW POSSESS. BUT---IT SURE LOOK'S GOOD AT THIS TIME---TIME WILL TELL THE REST OF THE STORY.

3-7-2012 Guru Adam Montana I don't see any specific thing that will force them or entice them to move before or after the Summit. In my opinion, they have to be just about 1000% ready, so it's simply a matter of "loose ends". I have no idea what else could be holding this up, but we have to admit that an RV is no small matter... I prefer that they are being safe and covering all bases, rather than a premature RV and then it blows up before we get to cash in. I am willing to bepatient with them in order to get the max return on my investment.

3-7-2012 Guru Jonnywg PLEASE NOTE THAT CONFIRMED THAT DATA RELEASED TO CENTRAL BANKING SYSTEMS...RATES SHOULD SHOW SHORTLY, WE DO NOT HAVE THE POSTED RATES IN THE BANKS YET AND THE CURRENCY DEALERS ARE STILL SELLING...SOUNTIL WE CAN CASH IN NO "OFFICIAL RV "...WE WILL ADVISE OF CHANGES...THIS IS AT THE END.

3-7-2012 Gurus Okie_Oil_Man/Bulldog75 MY GEAR IS DOWN, MY FLAPS ARE DOWN; AND I AM COMING IN FOR A LANDING. I CAN OFFICIALLY TELL YOU AS OF RIGHT NOW THE FRONT TELLER SCREENS HAVE NOT CHANGED FOR THE DONG AND IQD. NUFF SAID

3-7-2012 Guru Jonnywg we have just been informed by 2 creditable sources in different fieldsthat the RV is live...the team is trying to verify it...we are on top of it and i am sure that this will confirm shortly...WE ARE WAITING TO GET THE POSTED RATES AND HAVE PEOPLE AT THE BANKS LOOKING FOR RATES RIGHT NOW... IF THIS IS IN ERROR WE WILL KNOW SHORTLY.

----------------------------------------------------------------------------------------
Iraqi Dinar, recently being said: ...
Posted By: hobie [Send E-Mail]
Date: Thursday, 8-Mar-2012 03:28:49
In Response To: Iraqi Dinar, recently being said: ... (hobie)

Hi, Folks -
Found at dinaridjit.com:
=====
3-7-2012 Gurus OkieOilMan/Bulldog75 WE MENTIONED TO YOU SEVERAL TIMES WE WOULD HAVE THE RATE AND DATE BEFORE THE BANKS WOULD POST. $12.36 USD IS THE IQD RATE. THIS SHOULD POST, IMHO & OKIE'S, SOMETIMES TOMORROW, THURSDAY. NO ONE WILL OFFICIALLY SEE THE RATE POST POSTED UNTIL SOMETIMES TOMORROW.

Posted by John MacHaffie at 6:24 AM

[Deep Knight]

Dealing in dinar
KSN.com
Published: 2/10 10:42 am

WICHITA, Kansas -- When Michael Capps set foot in Iraq with Halliburton, Iraqi Freedom was well underway, but the buzz in the American bases had nothing to do with politics.

“The minute you hit the ground, there was hype,” said Capps.

Servicemembers were talking cash, Iraqi money called dinar.

“You couldn't almost walk into an American base without somebody mentioning the Iraqi dinar, the revaluation, the investment…we're going to become instant millionaires,” said Capps.

The idea? Buy dinar at the current low value, near worthless, and hope for appreciation.

When Capps bought his currency in Iraq, $14,000 worth, the dinar was valued around 1,500 to one dollar.

Best case scenario, the dinar would return to its pre-war value 3.5 to one, making Capps and many other investors instant millionaires.

“If it sounds too good to be true, come on wake up, it's too good to be true,” said Certified Financial Planner, Don Grant.

Grant is the first to steer potential investors away from the dinar. He starts with the dinar's valuation. Unlike the U-S dollar, the dinar isn't backed by a stable government.

“The dinar has been valuated initially by Saddam Hussein. He is the one who said, ‘This is what it's worth,” and it’s pretty much maintained that same value for the past decade,” said Grant.

According to online exchange site xe.com, today's value of the dinar is about 1,160 to every dollar. Back in 2005, it was around 1,500. That’s a seven year appreciation of about 30 cents.

Capps is well aware his investment might take time. He's well-aware it's nothing more than a gamble in the first place.

“I think there's definitely some potential for some real opportunity, but anybody that's got the view that it's a get rich quick overnight, it definitely isn't going to happen that way,” said Capps.

But Grant and many other advisors have one undeniable reason they don't see that potential. The Iraqi government may be the last one to want their currency to appreciate. They're in big debt. If their currency gains value, that just deepens their debt. In fact, many say Iraq would be far more likely to scrap the dinar altogether and create a brand new currency, making all that dinar sitting in American houses nothing more than pretty paper.

But say, the dinar stays put and it does appreciate. Here comes the next problem, says Grant. Where do you cash them in?

“I don't know of a place in America where I can go trade dinars other than some place that is perhaps illegal,” said Grant.

The currency is not regulated. To see for yourself, Grant offers a challenge to those thousands of Iraqi dinar dealers online.

“Present them the opportunity of buying some that you have. Tell them you'll sell them at a discount. I don’t think they'll buy it,” said Grant.

That's something both Capps and Grant agree on. It's the middle men you need to be wary of. With shipping and handling and commission charges, you end up paying two to three times the dinar's true value, making the dealers the ones who may be getting rich.

Yet the trend of dinar investment continues to grow and there's one reason for that; hope.

No one knows for sure if it will or won't pay off.

But even Capps offers this advice:

“The dinar as a whole is completely a risk. You know, one of the things people will tell you about any investment is, don't invest money you're not prepared to lose.”

Grant encourages anyone interested in foreign currency investment to get with a certified financial planner.

A pretty plain-vanilla article about the Iraqi Dinar, but you wouldn't think so from the comments.

9 Comment(s)

Matty - 2/10/2012 1:46 PM
I would suggest you contact one of the local IQD sites and speak top some on the most balanced and grounded Mods in the Dinar community (ext @ 3 million Americans) ..... Vic at THEGATEKEEPERS...or Mike at theiqdteam.com I can provide links and info if you need it, as a side note I would fire who ever did you back ground research. Nice graphics though. Have a great day......Matt in SD.

getyourwebon - 2/10/2012 6:56 PM
Bank of America nad Chase bank trade Dinar

wuenschr - 2/10/2012 8:36 PM
Chase is not trading Dinar...please stop saying that

AJAnderson - 2/11/2012 1:56 PM
Sure if you buy from lets say Dinar Banker who is a UST registered seller and buyer of the dinar, who sells at the present value allowed by the CBI in Iraq, but if you sell back to them they are only going to give you a little above the exchange value here in the US, which is at about .00086 or about $860.00 per million. You lose the exchange rate difference at this point. But, what happens if the dinar RVs at .86 or 1 to 1 as the iraq articles tell us. [No, it doesn't] Then what is the exchange rate difference?

AJAnderson - 2/11/2012 1:59 PM
Sure if one buys now from lets say Dinar Banker and sells back to them that investor will lose the exchange rate difference, but what if the Dinar RVs at .86 or 1 to 1 to the US dollar like the Iraq articles tell us? Then would the investment been worth while? AJ

bostonangler - 2/12/2012 8:46 AM
This story is filled with mistruths.. First, the rate was set by Saddam? No really an accurate statment. All one has to do is track the currency rate and you will see it was worth over $4.00 to one Dinar in the early 20th century. Before Saddam was put in office by our government the value was over $3.00. As for backing it's value... Uh I think having what will become the world's largest reserves of natural gas and oil is pretty solid. As for a stable government. I'm not too worried. After the US and the oil companies have invested 100s of billions of dollars, I do not believe they are going to let this country slip back into the ways of the old middle east... I think as a news outlet you would do better to check some facts before puting this story out there for the informed public to read. Your report is true to the fact that this is a risky investment, but to say it is a scam is misleading. I bought all my Dinar from a bank. I can resell it at anytime with the only lose being the fees involved and like any investment, only spend what you can afford to lose. Try selling your worldcom or enron stock to someone, see how the works out for you.

ExecConsult - 2/17/2012 12:47 PM
0 Votes
Report User
My name is Mark Galloway. I'm the owner of Advanced Legal Planning, LLC. I've counseled many people on dinar issues. I even started a blog. I feel the need to correct some things from the newscast. Because Don Grant has the credentials of a Certified Financial Planner, we "SHOULD" be able to trust what he says. However, some critically important information about the dinar is not accurate. Saddam Hussein DID set the value of the dinar BUT that was prior to the UN sanctions and allied invasion of Iraq. Since that time the value has been tightly controlled by the Central Bank of Iraq (CBI) in concert with the International Monetary Fund (IMF). Every US currency trader that exchanges US currency (USD) for Iraqi dinar (IQD) will also exchange back. They are registered with the US Treasury and required to do so. There is nothing illegal about trading in the currency. Mr. Grant also mentions Iraq's debt as a reason for Iraq not to revalue its currency. Perhaps he is unaware that the majority of Iraq's debts were forgiven in the so called "Paris Club" treaty (or so I have read). Will Iraq provide a new currency? Every indication is that they will. There are reports from the CBI that the money is already printed. However, that does not suddenly make the dinar every Iraqi citizen holds worthless. When a new currency is printed, there is a time to exchange the old currency for an equivalent amount of the new. The news team can't police every statement. They depend upon we professionals to speak only in areas where we are qualified to speak. When a professional speaks they are accountable. We should all take more care when people trust us to advise them. Best of Blessings, Mark

ExecConsult - 2/17/2012 12:56 PM
I should have added that I am also an attorney and have studied the legalities and tax issues regarding dinar extensively.

Hammond - 2/21/2012 10:47 PM
Boy, what a shame they didn't report actual TRUTHS about the Dinar. I just want to post FACTS so folks can decide for themselves, always do your research as both the reporter and Don Grant said incorrect statements. I'm an Accountant with degrees in Accounting and Business, I do hold dinar. So, I'm well versed on the situation in Iraq. 1st - They said that Michael Capps had $14,000 into dinar at $1,500 per dinar. That would equal $21,000,000 in dinar. [no, that would be 21,000,000 dinars] She reported that if the dinar revalues at best $3.50 he would have $21,000,000. [Once again, no, she doesn't - she said "Best case scenario, the dinar would return to its pre-war value 3.5 to one, making Capps and many other investors instant millionaires."] That is INCORRECT. You need to take $21,000,000 dinar he currently holds x $3.50 which would come out to $73,500,000 in US Dollars. So you understated his Revaluation amount by $52,500,000 Don Grant - I don't know why he's so down on the investment other than the fact that he can't make any money off a commission to sell it. Is that the reason? Normally investment folks like him make money off commissions by selling investment vehicles like stocks, etc. Dinar can be purchased thru Currency Traders at this moment but not thru folks like him. Come on, don't rain on everyone's parade of hopes and dreams. Plus you need to get your facts straight. SADDAM didn't value the dinar. The dinar has been around since 1500's, then in 1932 thru 1958 was valued against the British pound. Then in 1959 it was valued against the US Dollar at $2.80. From there it went up and down in value to a high of $4.82 but NEVER below $2.80 until the 80's when it was at $3.23 and Chapter VII was slapped on them for invading Kuwait. Stable Gov't, correct, not yet but they are working on it. Not $.30 since 2005 to now, it's 30% gain. So, 4.28% appreciation on dinar since 2005. From 1500 to now 1160. That's huge and that's without an official RV. Iraq in debt, yeah $17 billion to Kuwait. Pretty much all other debt has been forgiven. ALSO, they didn't mention IRAQ is sitting on the largest amount of US dollars at $50 billion.

How does Hammond know these "facts?" From reading the Dinar pumping websites, that's where! These guys have been 100% accurate, well, except for the dates. GO RV!!!

[The Observer]

I'm an Accountant with degrees in Accounting and Business, I do hold dinar.

For an accountant, your math skills seem way off. To whit:

They said that Michael Capps had $14,000 into dinar at $1,500 per dinar

You have that backwards. The dinar was never worth $1,500. So...

1500 dinars = $1.00

$14,000 dollars x 1500 dinars = 21 million dinars

So if we run the numbers based on 3.5 dinars to one dollar as the reval we get...

21 million dinars / 3.5 = $600,000.

So Capps would not end up as a millionaire, but $600k would still be seen as a great return. However, the problem is exactly as the article pointed out. Increasing the value of the dinar artificially is only asking the Iraqi economy to deal with hyperinflation as all of those dinars get pumped back into circulation. The debt load goes up immediately on the government with the short-term result being collapse of the government, no confidence in the economy and overall chaos. No government is going to put a gun to its head by doing a RV rate that you are drooling over.

There was a reason that Capp was able to by 21 million dinars for $14,000 - it accurately reflected the true value of the dinar due to the strength of the Iraqi economy versus the US economy. That value has changed a little over the last several years, but the reality is that the US dollar is going to command such a disparate rate since it is clear that Iraqi citizens can buy much more with the dollar than with the dinar. That isn't going to change over night. Investing in the RV is a long-term risk venture.

[notorial dissent]

More to the point, even if Iraq were foolish enough to value the new dinars (artificially) upwards, it still wouldn't make any difference. They can claim they are worth whatever they want, but the market, when it quits having an immense belly laugh at their expense, quite literally, will simply keep right on trading them at the nothing par value they have now, since they still won't be worth anything, and that is assuming that after a stupid stunt like that there would even be a market for them except in Iraq.

I can see the dinaridjits going for something like that, it sounds almost as stupid as some of the other nonsense they have swallowed in whole spoonfuls, but somehow I just can't see the world financial community swallowing it.

[Gregg]

There isn't even a market for them in Iraq, they use dollars over there. The only people fool enough to buy them AS INVESTMENTS are the dinaridgits.

And anyone wanna bet that the gurus with the websites don't even own any dinar themselves? Hell, Adam Montana is pulling half a million a year in DOLLARS from his never ending web of sites and scams related to keeping the suckers on the line a little while longer.

[ArthurWankspittle]

3-7-2012 Guru Jonnywg THERE ARE MORE CONFIRMATIONS OF THE EARLIER POSTS...OTHER INTEL PROVIDERS HAVE ALSO RECEIVED THE INFO...WE WAIT FOR THE RATES TO TRICKLE THROUGH THE SYSTEM...NO NEWS ON A HIGH OR LOW RATE...I EXPECT LOW AROUND $4 +. THE MAIN THING IS WE HAVE TO WAIT UNTIL IT IS ALSO LIVE IN THE BANKS...SO WE CAN CASHIN...THE RATES WILL BE POSTED TONIGHT.

It's almost 03/09 here and the rate is 86 cents for 1000 IQD (still). I think guru Jonnywg is really Jonnywrong.

[Pottapaug1938]

If I recall correctly, a lot of old currencies (including those from the Soviet Bloc) and more than a few current ones (Cuba comes right to mind) have an "official rate" which is set at, say 3 Snookeroos to one US Dollar. However, if you are willing to take a risk and buy currency on the black market, you can get many more Snookeroos for your dollar -- but then when you are trying to clear Snookeroo customs, they will ask you for your currency exchange receipts, and will get very upset if you are trying to take out large sums of undeclared/unaccounted for currency.

I hope that the Dinaridjits like 1) getting publicly embarrassed when, after a new official exchange rate is posted, they go to their favorite currency exchange and try to cash in at that rate; or 2) seeing the inside of an Iraqi prison after they get themselves over there with stacks of dinars and look for a way to cash them in.

[Gregg]

I think when the dealers stop selling old dinar might be when the dinaridgits may get an inkling that the ones they're holding are going to be worthless soon. After a whole lot of excuses and wrangling over how "they can't just make our dinar worthless" they'll slowly realize that not only can they, they will, a dealers life might not be worth a dinar on the street.

[Deep Knight]

I hope that the Dinaridjits like 1) getting publicly embarrassed when, after a new official exchange rate is posted, they go to their favorite currency exchange and try to cash in at that rate; or 2) seeing the inside of an Iraqi prison after they get themselves over there with stacks of dinars and look for a way to cash them in.

I can see the scene at some bank or exchange when someone tries to exchange the old ones at the new rate after the 1:1000 redenomination (RD). Some person in denial convinced by what they've been reading online trying to make their millions by cashing in their demonitized banknotes. Getting angrier, louder and adding all sorts of crazy stuff about what Okie Oil Man said until an underpaid guard ushers them away.

GO RD!!!

I think when the dealers stop selling old dinar might be when the dinaridgits may get an inkling that the ones they're holding are going to be worthless soon. After a whole lot of excuses and wrangling over how "they can't just make our dinar worthless" they'll slowly realize that not only can they, they will, a dealers life might not be worth a dinar on the street.

Even after Clyde Hood confessed his guilt a cult of true believers still truly believed and some followed Omega investor, board-poster and conference-caller Dove of Oneness into that NESARA madness. I can see a new leader rising from the seas of debt, Dinar of Oneness, where the Dinars can be cashed in after the world ends in 2014 and the space aliens beam us up. Maybe one of the pumpers, er, gurus, who can't let go of the attention, or maybe a dealer who's in a minimum security setup, has computer privileges, and the wiles to escape the disgruntled-Dinar-investor assassins.

[ArthurWankspittle]

If I recall correctly, a lot of old currencies (including those from the Soviet Bloc) and more than a few current ones (Cuba comes right to mind) have an "official rate" which is set at, say 3 Snookeroos to one US Dollar. However, if you are willing to take a risk and buy currency on the black market, you can get many more Snookeroos for your dollar -- but then when you are trying to clear Snookeroo customs, they will ask you for your currency exchange receipts, and will get very upset if you are trying to take out large sums of undeclared/unaccounted for currency.

I hope that the Dinaridjits like 1) getting publicly embarrassed when, after a new official exchange rate is posted, they go to their favorite currency exchange and try to cash in at that rate; or 2) seeing the inside of an Iraqi prison after they get themselves over there with stacks of dinars and look for a way to cash them in.

I don't think this will happen in the case of a redenomination. This is just the normal sorts of controls governments have to stop massive exchange rate flows in the direction that doesn't suit them. Gregg has previously pointed out the more likely controls, like an upper limit which triggers an interview with officialdom and exchanges only being done in Iraq. The normal way a redenomination works is to run the old and new currency in parallel for a year or two. At the end of that time, the old currency becomes worthless. This is useful for a government in that it flushes hoards out of hiding (giving you the opportunity to tax it) and it becomes a "stock take" of what is actually out there in circulation.

As for some of those comments, I think there were posts in there that had something wrong with ever sentence in them. If Saddam didn't control the dinar and "officially" fix it at $3, then who did? It certainly wasn't a market rate, obtainable on the currency exchanges.

[notorial dissent]

Considering the glacial pace at which the Iraqi gov't has moved with on the RV to begin with, might give someone an idea of just how much a priority it actually is with them, which to all appearances isn't much, and which to saner and possibly more coherent minds might be a warning note. It's been what, six / seven years now that they have been talking about this, and yet nothing has happened, or appears to be even in the offing.

If there were going to be an RV, the Iraqi Parliament would have had to have passed some kind of legislation, which would certainly have made the news, and more importantly, they would have had to have identified the new currency and had it printed, and so far no real evidence that this has been done either. Which leads us back to the inevitable question of when???? This is something that doesn't / can't happen overnight, and anything with that much planning involved would not be a secret, particularly in that part of the world, for very long.

And, contrary to what the dinaridjits and gurus want to claim, it is not a matter of flipping a few switches, or programming????? programming-get real, or any other mumbo jumbo, it is a matter of a great deal of planning, a whole boat load of announcements along with the regulations they are going to enforce at the time, and most particularly, the when and how, none of which has happened, and that doesn't include all the stuff that has to be done behind the scenes to just get to that point.

I still maintain that Iraq has enough other MORE pressing problems to worry about that RV'ing their currency is most likely, right dead on the bottom of their to do list for the moment. Considering, as Gregg has so rightly pointed out, that the dollar has pretty well supplanted the ID for the time being, that they may well decide to let the fait accompli linger on until they are more stable and solvent, or they may do like Liechtenstein did and simply accept that it was easier to use the Swiss Franc / dollar than trying to maintain their own currency. Now wouldn't that be a kick in the head for our favorite idjits???

In any event I don't see even coming under the RSN catagory that most new software releases and bug fixes fall under.

[The Observer]

Considering, as Gregg has so rightly pointed out, that the dollar has pretty well supplanted the ID for the time being, that they may well decide to let the fait accompli linger on until they are more stable and solvent, or they may do like Liechtenstein did and simply accept that it was easier to use the Swiss Franc / dollar than trying to maintain their own currency.

The Iraqi government knows that any revaluation or reissuance of currency is going to cause disruption to the economy. It is likely that it would be a devaluation in order to come to terms with their debt load and that will affect most of the Iraqi population in terms of loss of savings and purchasing power - and produce protests, turmoil and even more dissatisfaction with the government. So the politicians are going to try to limp by on allowing the US dollar to prop up the Iraqi economy.

Which wouldn't be so bad, except for one other item that most people aren't aware of. North Korea, for the last four years, has been turning out counterfeit US dollars, as a way of dealing with their own worthless currency. If those counterfeit bills make their way into the Iraqi economy, it cause the collapse to come sooner unless the government can find a more stable currency to come into play.

[notorial dissent]

I don't know that a reval where they just swap out the currency 1:1000 would cause that much, or any, economic disruption, as all they would be doing would be swapping the old currency for new and cutting down on the currency inflation, that would at least have more of a value than it does now, and you wouldn't have to lug bushel baskets of it around to do anything with, which is why they aren't using it much as it is. The thing is that a reval isn't going to deal with or resolve the real problems they are facing, and to my lights, it is an expense that they really don't need at the moment, and I'm not sure would really serve any realistic purpose or be of any real value at this point in time. They have other far more real and pressing things that need attention right now, like having a functioning economy that isn't dependent on money being pumped in by the US, a stable gov't that isn't going to fold the next time the wind blows too hard.

[The Observer]

I don't know that a reval where they just swap out the currency 1:1000 would cause that much, or any, economic disruption,...

But that is not likely to happen with the amount of debt owed by the government. That is why I said that it would be a probable devaluation If dinars were trading at 1500 to the dollar several years ago (and hasn't appreciated much over the years) a 1000 to 1 conversion rate would be rather generous and force the government to raise taxes or oil prices to cover the difference. Either way it will cause disruption.