Iraqi Dinar Updates

Received this article, thought I would share.

BAGHDAD / Aswat al-Iraq: Iraqi PrimeMinister Nouri al-Maliki, the leader of the Dawlat al-Qanoon (State of Law) bloc, gave instructions to withdraw all the contests forwarded by his bloc against the recent Iraqi parliamentary election results, a source close to Maliki said on Tuesday.

“Maliki’s instructions to withdraw all the contests submitted to the federal court aim to accelerate the endorsement of the election results,” the source told Aswat al-Iraq news agency.

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The following was shared as a recent comment.  In my opinion, it contains some of the most informative, interesting and encouraging insight I’ve read on the dinar rv I’ve read in a while.

For the benefit of new investors, as well as not so new investors, the author has graciously given me permission to share it here as a featured post.  I am sharing it as is.

Enjoy!!

Just some concepts to keep in mind as we watch the events unfold and the weird way things seem to be going.

First, money:

There are basically two types of money; money based on the strength of an economy like the US, and money based on valuable commodities like oil, gold, etc., like Kuwait, Saudi, and at present Iraq, potentially.

The value of the USD is based on our ability to produce goods and services.

The value of the KWD (Kuwait), for example, is 95% based on the value of the oil in the ground being pumped and sold. Iraq, right now, has now valued its money on the value of its commodities of which they have an abundance (oil, gold, other minerals, agriculture and a host of other valuable things the world wants).  BUT, Iraq WANTS to have an economy on which to base its money because having a viable economy is MORE stable than simply pumping oil.  When the oil runs out, their money becomes worthless again.

Second, International Politics:

The US and Iraq are tied together, the US$ is Iraq’s international money. They want their OWN international money.

China wants to dethrone the US$ as the global currency so they are pushing buttons with the IMF to revalue the IQD at a LOW rate which will weaken the US$.  But they can’t let the US$ get too low, or their exports will become expensive and they will lose market share in the US.  They are conspiring with Russia and Iran to screw the US$ internationally.

Third, US politics:

As the US deficit and debt grow our money becomes less valuable internationally.  A good Iraq RV will boost the US$ big time and blunt the Chinese efforts to screw us.  This just happened with Dubai.

The
Dubai problem is centered in the

..

which effects the EURO.  US banks are not heavily into Dubai, thus with the Dubai possible default international money is flocking to the US and increasing the value of the US$ against the EURO.  The US took a 6.5% bump up since the Dubai real estate problem became public.

This means that the IMF efforts to pin the Dinar to the EURO (the
$1.49 RV) is weakened by the stronger US$ which makes the Iraqi desire for a HIGH RV in US$ more probable and more feasible.

International Trade:

Iraq WANTS to establish an economy based on more than their oil, gold, and natural gas so they have to get into the international market systems.  To do this they MUST have a currency with real value.

The sooner they do the RV, the faster they will be able to build their economy.

They have taken the steps necessary to begin this process, but still need the revalued currency.

So right now, we know a few things.

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Many have speculated that this week, even today, could be the day for an announcement of the dinar revaluation.  Once again, so far it’s quiet.  However, do not lose heart.  As I’ve mentioned before, and what we all know, is that it definitely will happen, it’s just a matter of when.

The progress achieved in Iraq, just in the last several months, coupled with the recent publicity around the dinar as an investment is very encouraging.  As always, I will be monitoring this and keeping you as informed as I can.

Below is good news about the Trade Bank of Iraq posted in comments under “Dinar RV Update” by a fellow reader/investor.   I thought I’d also post it here as well for those who may miss it there.

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Here is the latest on the dinar revaluation that I have received from my sources.

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Here’s the latest on the situation in Iraq and the dinar revaluation.  I’m passing it on raw just as it was sent to me.  Apparently someone thinks it could be sometime in September.

Why all the delays?  Could be political.  One things for sure, somebody on this planet knows exactly when and how much.  Mostly bank presidents, VP’s, branch managers, high up government officials and such.

As for me, I’ll keep giving you news I believe is relevant.

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Hello Dinar Friends,

Why before the 1st of October? As that is when they are
to dedollorize the country.

There is good info coming out about Iraq. Like the 180 billion
that UN is putting into the Iraqi funds.

Link to UN article about 180 billion.

I was wondering what happened to all of the money for the oil since    2003.

Well, that  is where it went; UN. That’s better than the crooked politicians,
which some may have  gotten off with also.

Article on the coins surfaced today. Now why would they need coins
when their currency is worthless. It takes a bucket full of dianrs
now to buy a coke.

It would be a truck load of the coins to buy a coke.

The only reason on why they need coins would be that their
money is getting ready to revalue.
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Here are the latest updates and insights from my sources.  Revaluation is near, we just need to get past delays.

———————–

Aug 27 11:33 PM [Enorrste] First, the GCC has announced through the media that it will offer “full member” status to Iraq “in a few days”. This came out last Saturday

[Enorrste] I don’t want to dominate but if the mod wants to allow it I’m ok with it

[mommobile] http://www.imf.org/external/np/tre/s…/2009/0709.htm
[IDQ09] no domminate its fine we are listening

[Enorrste] Second, membership in the GCC REQUIRES and internationally recognized currency; this is in their charter
[mommobile] Looks like tomorrow is going to be interesting

[Enorrste] Third, there is a small provision for an exception to this of 14 days only; Iraq will NOT ask for the exception because Iraq WANTS the RV

[Enorrste] Fourth, Maliki has spent the last 2 months traveling all around the world (England, then Egypt, then Turkey, then France, then the US, etc.) inviting all countries to invest in his country.

[Enorrste] Fifth, he can only do that if he can trade on an international level with a world recognized currency

[Enorrste] Sixth, the fact is that the US wants this even more than Iraq

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Here are some interesting points to ponder that I received from a reliable source who chooses to not be mentioned on this blog.

Also, a reminder, when cashing in with a bank, just be sure that they have a currency officer there who can verify your dinar.

I would not take my dinar to any local bank and they want  to send it off to verify that your dinar is official.  You may not get it  back and lots of things could happen with it.

The foreign currency offices in banks should have a DeLaRouge machine to officiate your currency.  That’s just my thinking and I would try Chase, Bank of America or Wells Fargo.

Now, Points to Ponder:

Today in the chat, I mentioned a phone conversation my
husband had with a friend, Haroon, who now lives in KC MO but is from
India. He has been to Dubai himself many times, and he understands how
government and finance works over there.

Haroon is a “research junkie” who reads the Wall Street Journal cover
to cover everyday. To give you an example of his knowlege, he told my
husband that Nestle (my husbands employer) was going to buy Gerber 6
months before it was ever public. He also researched the Presidential
election and knew which candidate was going to win each and every state
and he was correct on all. Those are two examples of his predictions
from his research.

A couple weeks ago, about the time we were getting the same information
from medic, my husband told Haroon we were holding some Iraqi dinar.
Haroon told my husband that the RV is very soon, and that it will be
between $2-$4. The whole time Medic and Haroons information has lined
up. So I have complete confidence in everything Medic has shared with
us.

Today, my husband called Haroon and asked him about the dinar again,
knowing he knows people in Dubai himself. The following is what Haroon
stated… The reason the dinar has not had an RV is because Chapter7
has not been removed. According to chapter 7 it is against
international law to conduct business with Iraq until it is lifted. He
said all the countries that have contracts signed with Iraq cannot
legally do business there until it has been lifted.

He read an arcticle dated July 5th that stated that Kuwait is asking
the UN to lift chapter 7. He feels after his research that it is just a
formality to be lifted and will be done this week at the UN meeting.

He then proceded to explain why it would RV this Friday Sat, or Sunday
provided the lift of chapter7. The reason it will Rv on our weekend is
because Iraq feels there are more sellers than buyers of the dinar. So
they do it on a weekend to keep the transactions world wide lower than
if all world banks are open for business. So it is done on like a
rotation basis worldwide. Otherwise the dinar would plumit.

He also stated that if it is true of the 4% flucuation up or down, this
will keep the dinar stable within 4%. And how they do that is they have
countries lined up to buy or sell dinar, whichever is needed to keep it
within 4% of the original value.

He also said the reason they want to take the large denominations out
of circulation is because of criminal activity, i.e. drugs, guns, etc.
He stated if it was in circulation and if you went into buy a candy bar
and a soda, they wouldn’t be able to make change for a 25K note. (That
is just an example.)

He stated their weekend is our Thursday and Friday, so if you think
about it, it does make sense about the rotation of the banks.

Haroon also feels that the RV rate will be equal to Kuwaits currency
rate right now or slightly below, but not higher. He thinks .10-.20
lower which would be 3.30-3.40.

Remember this is a rumor site, and just FYI Haroon holds no dinar. Just
a real good friend.

His information has always lined up with Medics. And they both agree on
Chapter 7.

And IMO, I feel the oil companies are probably lobbying for chapter7 to
be released as well, since they have signed contracts, but can’t touch
the oil until it is lifted according to international law.

Now this is a rumor site, and please don’t stone me if it isn’t this
Friday, but he feels it will be the Friday after Chap 7 is lifted,
whenever that may be.

Author, Anonymous

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Here is the latest speculation on the dinar rv as of Sunday July 12 U.S.  Very interesting, even exciting but remember it is speculation.  Enjoy!

Hi Dinar friends,

Found this chat on www.nenosplace.com tonight and just maybe this dinar is getting ready to revalue.  The next 24 hours could be interesting. If it doesn’t happen then it will soon.   Too much going on.

Remember this info came from some one from Australia, so they are across from the international date line. What happened there today will hit here tomorrow.   Plus when Kuwait valued it was 4 days before the public was aware of it.

Just keep watching this web site plus the CBI web site.  It has been
exciting but happy when this ride is over with.   But who know about the  CBI, there may not be anything for us to go by.   They may keep this a secret for a while.

There may be a time frame to cash in the 000 notes as they want to retire them.  Kuwait had 45 days to cash them.

We will just have to wait and see what happens.

It will be a nice problem.  Some have advised to turn you dinar to assets as the dollar may collapse.  Just be your own judge or get a financial adviser to help you on that.

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19:44:55] okie oil man : o.k.—here goes—i’ve got an old nam buddy that still drives an quantus air bus and i talked with him this afternoon for the 1st time in many month’s..So since he flies the far east as well as thge mid-east i asked him about whether he knew anything about the iraq dinar—he said funny you should ask as i have a lot of it—1 thing led to another and he asked me when i was going to cash in and i said when it re-val’s—HE SAID i’m not very informed because he understood it had already re-valed yesterday—i ask him how he knew and he said he got the news when he was in nubi (sp) yesterday i ask about what it re-valued at and he said somewhere around 3 bucks is what he heard but mdid not chec k it out because he had a return hop to fly—so there that’s what HE SAID and i’m only relaying new’s—-remember i’m just the messenger —so don’t shoot me—but he said he was positive about what he had heard—phew—–

Also, another source assures me that Ali over at Dinartrade.com is a trustworthy and reliable source for both purchasing dinar and cashing in.

More on cashing in via Dinartrade soon.

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