Close...Very Close

My OPINION is that we are close to a revalue. All of the leaders realize that they desperately need to get a revaluation going. The holdup seems to be a fear of an economic collapse if it is done incorrectly. What I’ve read just today convinces me that they are actively working on making it happen.

As you read articles keep in mind that it would be financially and culturally inadvisable for them to print brand new money at this time. When you read about printing or releasing new currencies it is referring (again imho) to the smaller denominations. We know that they have them but they have yet to be released as with the current rate they would have little to no value.

When they talk about deletion of zeros I am certain that they mean from the exchange rate. The same three zeros they added to create the current artificial rate. So again imho it is likely that we will see a revalue in the .83 to .87 range in the not too distant future.

I think if it's true that Allawi is moving aside or taking another position, that will help us. The problem is with both of them trying to be Prime Minister the groups or sects that follow them are never in agreement and always bickering, now with only one true Prime Minister he is the one the sects need to make happy. I think things may move along quicker now but it may not go as we would like with Maliki. I have read to much about him wanting to be a dictator and to much corruption. If he trusts Shabibi and lets him do what he does best we will all be happy. I really don't see Shabibi crumbling to Maliki.
Maliki does not seem like a go getter to me he just wants people to basically bow down and do what he says without question. My opinion is we would have done much better with Allawi then Maliki. I guess time will tell.

Theres a lot of talk about LOP recently. An article published on an Iraqi site stated that it was already in the works. I think we posted it yesterday with comentary. The question is will it happen? The answer, nobody knows. I still beleive it unlikely for many reasons. Foremost among those is that a LOP is what Evil refers to as a neutral event. That means that it does nothing for their economy except make the numbers easier to handle. A 25 dinar note would have the same buying power as a 25000 dinar note does now. Their exchange rate would still be in the toilet. A countrys exchange rate is how they deal with other countries. With an exchange rate as low as it is now their currency doesnt buy much outside the country. Certainly oil is currently traded at the US dollar rate but that is electronic currency and has no real effect on the currency. If a oil baron wants to do business in country then he either has to convert his elctronic currency for US dollars or Iraqi dinar. At this point they are using dollars more than dinar because of buying power and ease of use. At some point they are going to say enough and make the dinar worth something so that their soverign currency will become the predominant currency in country.

Today being the 21st of October is the most recent doomsday prediction of radio prophet Harold Camping. So far it hasnt happened but then neither has the Revalue of the Dinar. Mr Camping claimed to have a calculation which would predict the second coming of Christ. It has failed him in every other instance and I suspect it will again today. The bible upon which his predictions are formed states that no man knows the time and it shall come as a thief in the night.

The dinar is the same. Nobody knows when it will revalue and anybody who tells you different is selling something...just like Mr Camping. He was selling his faith and radio show. We here, arent selling anything and we are not going to tell you it will revalue tommorrow. We hope but we are not going to tell you what we dont know.

There have been a number of articles recently that say a bill is in the Iraqi parliment to denominate the smaller denominations. In order to do that, at least in my opinion, they must revalue the currency. Keep your fingers crossed folks and hope that the revalue comes before doomsday.

I am right with you Ideadude, I have been looking at the news and there really is nothing worth reporting and the Dinar stuff is just rehashed take off the 3 zeros stuff. This has been going on for years. It averages about two years then they change the wording a bit or the translator gets updated take your pick....LOL.
We will just keep plugging along, with the news of Libya it could take some focus off of Iraq and let them revalue hopefully. I think with Parliment's 40 days off things will really slow down more so then before.
Evilbyte

Well it's October 31 and all the rumors on the web and other forums are saying something is going to happen on the first of November. Well its Nov 1st now in Iraq and we would have heard something.
Its looks like most of parliment did not take the 40 days off as we thought. They have been working diligently on getting a lot of important bills passed. I still think it could happen anytime but it seems they are waiting for the US troops to leave. They are a very proud people and doing some of the big things while we are there seems to make them lose face and the credit for their work.
The gov of the kurds and the main gov of Iraq are grumbling about oil deals and such which I think is slowing things down right now. I thought our government was slow. Take a look at the news we have posted and see for yourself there are big things happening right now.

There has been no news for a while. Since the announcement that the US troops would be leaving by the end of the year all sources have dried up. It could be that the sources are scared to say anything. People in country who reveal anything could be tried on criminal charges. The gurus have heard the rumors of one of their number being investigated by the feds. All I hear these days are crickets.

On the other hand the sources may have dried up because the CBI is playing close to the vest. This rings truest to me but that's just my opinion and possibly wishful thinking. At any rate I'm in it for the long haul. My Dinar has been in my safe for years now, a while longer wont make any difference.

Be sure to stop by my redgage blog. http://www.redgage.com/#rf:/all_content?search=ideadude

Well by the news posts and reading between the lines I am assuming the US troop removal has a very large meaning to the Iraqi people and their government. Lets see what happens once the US troops have been all removed.
I did read that some bases have removed the US flag and put up a Iraqi flag and this is good news. I think our revalue could be anytime from now until after the new year.
Don't forget to read info on the IMF, almost spells it out for us.

Big news the rate at the CBI has changed to 1166 to 1 and that is something that has not changed in almost 3 years. Where does this lead us? I think we may be back into the same deal the CBI did 4 to 5 years ago where they allowed it to go up a few pips a day until it reached the 1170 that it has sat at for 3 years. Lets hope it goes higher to 1 to 1.......

Well the guru's are really pounding the BS this last two weeks. I have not read anything that could point to any type of revalue this week. Iraq is having US dollar troubles and the sanctions on Iran and Syria are causing problems too. Its gonna take some time to get all of their officials on the same page as to what they need to do to fix this.
I did read a couple articles with some hints at non normal things as far as the exchange rate. They are having inflation issues and the only fix for inflation would be to raise the value of their currency to offset the unbalance between products and currency buying power.
They did revalue 4 dinars and that will not do anything, they need a higher rate.
Look back to when it was over 1400 it took 1 pip a day for several months to slow down inflation. keep an eye out for bigger jumps in value and it may not be a one to one hit.
Evilbyte

I have read that Kuwait and Iraq have come to agreement on the hold ups on Iraqs Chapter 7. I see good things coming from this but don't expect things to happen right away. I can imagine what the guru's are going to do with this news to get you to buy more dinar. I guess we will just continue sitting and waiting for the thumb to be removed from Iraq's butt.

Well looks like the feud between Maliki and Allawi may just be erupting up a bit. Allawi's newest ploy is to get blocs together and show a push to remove Maliki. Maliki has his sights on getting control of the CBI, Shabibi would not allow him to take loans from the CBI in the past. Maliki wants a high revalue with no cut off 3 zero's. He thinks the GOI could support it. Shabibi has a more conservative view on the currency.
Our investment would make more money if Maliki gets his way and fires Shabibi, but if Allawi gets his way we could be back to square one for years as Iraq reboots everything. Allawi did not do tremendous things when the US put him in as Prime minister the first time. So I don't see him doing much this time.
The oil industry is making records on oil production and when Maliki shut down everything the Dinar actually gained value. They have canceled the redominate and the remove three zeros at this point, whats left? revalue and introduction of lower denominations. The spot in the dark is in my opinion that the dinar is throbbing right now and ripe to allow to gain value or be set at a higher rate. Syria and Iran and causing rifts that will force Iraqs hand soon. I hope they just set the value at a 1 to 1 to the dollar and allow the dinar to grow. Iraq's sit and wait policy is burning them now and I don't think they can wait any longer. Revalue now!

If the removal of Shabibi is true our ride could come to a quick end, if Maliki gets what he wants from this new CBI director he will RV to a higher rate and it may just come crashing down. So what do we do? hopefully it will be a international recognized currency and we will be able to exchange before it drops. If it is not your guess is as good as mine, wallpaper the bathroom? My opinion is if he removes him this fast and right away has his replacement do a large revalue that could look bad in the international eyes of other countries. I would keep close eye on the CBI rate in case the rate is RV to a high level get out while its up there. Saddam did the same thing and tanked the rate.
Evil