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Post  evilbyte on Mon Nov 21, 2011 3:48 pm

I see over the weekend the guru's were blowing out tons of rumors saying it has revalued in country. I have done quite a bit of research and reading. None of Iraqs newspapers are saying anything that would be concrete. I guess it could have been done and they are not sharing, why would they do that? They wouldnt! once it revalues it will be all over their local news. So I think we are just more waiting again!

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Post  Ideadude on Tue Nov 22, 2011 12:14 pm

Evil is Correct. There is no possible way that the currency could revalue in country only. If they did, this is what would happen. Lets say that Achmed want to buy a candy bar from his local merchant. Under a revalue like what the rumors are saying, he would pay 1 dinar for that candy bar (for arguments sake). The poor merchant would then have to turn around and pay 100 dinar for a replacement. Economically it wouldnt work. When the revalue happens it will be across the board.

In other news I saw this quote from a Dr Fadel who is an assistant law professor. “We must emphasize the extremely important issue is that if you remove three zeroes from the currency should not affect the actual value thereof to be trading in the old currency…" What he is saying is what we here have been saying. Both curriencies will be in circulation at the same time and have tradable value according to the face value. Both Curriencies being the current money in circulation and the smaller denominations yet to be released. Keep in mind they havent been released because they currently have no value.


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