7-10-2012: IRAQI DINAR GURU GUESSES!!!
7-10-2012 Newshound Guru SWFloridaGuy Many will say, “what about Kuwait, they RVd just like we want the IQD to.” That’s just not true. Kuwait never revalued their currency. The central bank did not change the rate. Saddam outlawed the Kuwaiti dinar and it fell in value. He told people to trade in their Kuwaiti dinar for Iraqi dinar before Oct. 6, 1990. When the U.S. stepped in, the value did again rise. This was not due to the bank changing the rate but rather the black market, similar to what Saddam did with the dinar in the late 80s. The Kuwait Central Bank never adjusted the rate below 3 dollars. They were occupied by Iraq and business was halted. Seven months later when Kuwait was back on their feet, they redenominated with the previous exchange rate. Actually, this was neither a RI or RD, by the true definition. This was a unique circumstance due to the invasion. Their currency was not adjusted due to sanctions like Iraq. [post 5 of 7…stay tuned!]
7-102-012 Newshound Guru Med A REVALUE IS THE SAME AS A VALUATION OR THE SAME IN THIS CASE AS REMOVING THE ZERO’S ANY AMOUNT FROM THE NOMINAL VALUE. WHAT IS THE NOMINAL VALUE? THE NOMINAL VALUE IS WHAT IS USED WHEN COMPARING ANY CURRENCY AGAINST THE USD. RIGHT NOW THE DINAR IS 1166 BUT THE NOMINAL VALUE IS .00086 AND SINCE CBI STATED THEY ARE REMOVING THE ZERO FROM THE NOMINAL VALUE OR THE THOUSANDTH, THIS IS WHERE THIS THOUSAND TO ONE KEEPS POPPING UP, THE DINAR IS RECOGNIZED IN THE THOUSANDTH THE USD IS NOT. BY REMOVING THE 3 ZERO’S OR THE THOUSANDTH POSITIONS THEY ARE NOW BROUGHT IN LINE WITH THE NOMINAL VALUE OF THE USD. NOW WHAT IS THE CONVERTED VALUE AFTER THE REMOVAL OF THE ZERO’S? 1.17 DINARS = 1 USDOLLAR OR .86 CENTS. FORGET THE WORDS RV.
7-9-2012 Intel Guru Soonerfan62 ALL TIMING NOW, NO HOLDUPS…REALLY DON’T KNOW WHAT WE ARE WAITING ON TO BE HONEST…DON’T LISTEN TO ANYMORE INTEL…THE ONLY INTEL THAT COUNTS AT THIS POINT IS OKIES FINAL POST. NOTHING ELSE MATTERS…SLEEP WELL TONIGHT, MAYBE A BIG DAY TOMORROW.
7-9-2012 Newshound Guru SWFloridaGuy Lets put this in perspective, China was the largest RV in history at 30%. For Iraq to RV on par with the USD would be a 1,000% increase. That presents a ton of problems logistically. Even though much of it will be electronic, it still has to have a large part backed by hard currency and will have to be widely accepted around the world as a form of payment for goods and services. The IQD will have to remain relatively stable, be introduced into and remain highly liquid in the forex market and the country itself will have remains politically and economically stable. The other option would of course be a RD where they remove 3 zeros and change the rate from 1 IQD = US$0.00086 to 1 IQD = US$0.86. From there it could revalue from 86 cents to 1 Dollar, a 16% increase and more comparable to China and other RV’s. That is NOT what I believe will happen, nor would it be the historic change we all signed up for. [post 4 of 7…stay tuned!]
7-9-2012 Intel Guru Cap1 WHAT I AM HEARING INTEL WISE IS TOO SENSITIVE TO SHARE AND IT’S ALSO SO GOOD FOR ALL OF US. SO, NO NEED TO WORRY. LAST MINUTE POLITICAL POSTURING HERE IN THE USA. [Are we still in a good position?] VERY, VERY MUCH SO.
7-9-2012 Intel/Newshound Guru Poppy3 without a full GOI and shared power, Dr. Shabibi will not release the RV period. It can happen that fast but it is just not probable. Lets stay grounded in the facts that we know have been verified.