Iraq Dinar Speculation

The biggest article out right now on the Iraqi Dinar seems to be the one about redenomination. Us Dinar speculators are hearing more and more talk about the slicing and revaluing.

One such article came out today on Reuters and several other news agencies regarding the Central Bank of Iraq’s decision in 2007 to come out with lower denominations. The article started with a headline that reads,

“Iraq plans to slice three zeros off currency notes”

And then later in the article it says:

“The dinar’s value will remain unchanged, he said.”

Are you kidding me, Reuters? How can the Iraqi Dinar “slice three zeros” and then remain unchanged in value? It can’t, so one of your points is wrong! I’m betting on the first point being wrong.

It’s widely accepted that sometimes countries will “lop” zeros, either off the notes or off the exchange rates. This is usually necessary when inflation is rampant or there are multiple currencies in place. Iraq has neither, so we have to wonder whether Iraq would truly “lop” it’s currency.

Next, Iraq has been allowed into the Extractive Industries Transparency Initiative (EITI) by unanimous decision, according to the Iraqi Ministry of Oil. Iraq will have one of the largest reserves among the groups in this organization, which obviously has positive implications for Iraq’s political influence on future oil based transactions.

And when I say “oil”, I mean black gold. For all the “green” movements in the world right now, oil is still king and will remain king for a long time to come.

If you’re still getting the error when you go to DinarVets, you will need to clear your cache or try another browser.

The site is up and should be good to go!

-Adam

Well, if this isn’t Grand Opening day for the biggest speculation of the Iraqi Dinar Year, I don’t know when it will be!

Brace yourselves! This is throwing the gates WIDE OPEN and it looks like we’re near the end. One way or another, 2010 looks like it will put a rest to all of our questions regarding the Iraqi Dinar. Read on, and tell me if you think I’m wrong or not.

February 06, 2010

BAGHDAD — The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money…

Early February 2010 Iraqi Dinar update… where is that dang RV?!

Hey friends, I know I’ve been a little distant lately – very few posts, no newsletter to speak of, and if you have been on the DinarVets forum… you probably know why. I’ve been busy updating the VIP members with news from my contact at CBI. I’m hearing some good stuff, but no verifiable dates or rates for an official RV or rate change for the Iraqi Dinar.

Since I can’t verify much on that front, let’s do a little speculating. One article of interest that doesn’t seem to be getting much attention is this one:

Iraq’s Prime Minister unhappy about competition. (link)

If you’ve kept up with the election news, you’ll be pretty well aware of the corruption and the almost humorous politics in Iraq. Up till now, I would have called Maliki a shoe-in for the March 7 elections, but a recent decision by parliament to allow hundreds of previously banned candidates to run should make things interesting. We all saw how Obama took the lead in our 2008 elections by giving the impression that he’d pay rent for the unfortunates who couldn’t afford it… and give free health care to those who couldn’t afford it… and pull the troops out… lol! Sorry, I got off on a tangent there. But, to bring my tangent full circle, let me present an idea.

All it would take for a candidate to sweep Maliki right out of his office is one statement: “People of Iraq, elect me and I will revalue the currency to it’s former value!!!!”

I’m not saying I have information that points to that happening… I’m just speculating. And insinuating. Ok, heck, I’ll admit it – I’m even pumping up the potential iraqi Presidential candidates.

If they didn’t think of it yet, I’m happy to give them a few pointers that might spur on a change in the rate of the Iraqi Dinar.

More to come, I’m pressed for time. Don’t think I’ve forgotten about you! The DinarSpeculation.com train slows slightly at times, but it always resumes chugging along!

Best regards,

Adam Montana

Hey DinarSpeculation readers! I know, it’s been a week – and there’s a lot of good stuff going on.

The HCL is in the news, Chapter 7 is being brought up in some important circles, the budget has passed… and even more importantly, has STAYED passed!

I’ll have an update on here a bit later, I’ve been busy with some server issues. Stay tuned!

-Adam Montana

By Dinar Daddy for Dinar Speculation.

It’s amazing how we continually go on and on in this investment, watching timeline after timeline fall away without so much as an explanation as to why the supposed “ROCK SOLID INTEL” was wrong… yet again. 

What makes us hold on?  Why do we spend so much time grasping at the illogical and confusing information about our beloved Iraqi Dinar?   Am I touching on a raw nerve here?  If so, I can guarantee you that you are not alone in your feelings of frustration, confusion, and desperation.

This week, we hear two of our supposed Dinar Forum Gurus going at it.  One claiming an outlandish suggestion that Iraq IS INDEED holding their elections under secrecy from the world and their own press, while the other is screaming the first mentioned is UP IN THE NIGHT with his claims, and that HE is the ONLY ONE with true intel.  No pun intended, but… are you serious?!

I am amazed!  Really, I am… Want to hear something even funnier?  The one claiming there were elections being held… WAS RIGHT!  Not in the way you’re thinking mind you.

FINALLY some good news for us Dinar Currency speculators! I’m extremely interested to hear what the number crunchers in the crowd are going to have to say about this one, for several reasons. The Iraqi federal budget has been held up by debates for several weeks, primarily for political reasons.

I mentioned months ago that the budget was going to be a big issue, and not for economic reasons… for political reasons. Political reasons such as Prime Minister Maliki’s upcoming electoral opponents wanted to make sure he was not able to use any state resources to fund his March 7 election campaign… the plot thickens, as always!

After what seems like a hundred years of sissy-footing around, the Iraqi parliament passed a 2010 federal budget earlier today (Tuesday January 26 2010) that puts federal spending at $72.4 billion (84.7 trillion Iraqi Dinars). The budget also sets a deficit this year of $19.6 billion (22.9 trillion Iraqi Dinars).

Iraqi government income is estimated at about 62 trillion Iraqi Dinars ($53 billion), 95% of which is from crude oil exports. Here’s where the number crunching comments should start: Iraq’s current and projected crude oil exports.

Also of note, the approved budget allows Iraq to seek a $4.5 billion arrangement with the IMF. This has been discussed before, and several times the IMF loans have fallen by the wayside. A trend I have noticed, however, is that when the IMF loan falls through, sometime in the near future an agreement is reached with one country or another that Iraq owes money to. Some debt is forgiven, investment opportunities are arranged for the country that forgives the debt, and Iraq walks away with a stronger foundation upon which to build a secure and financially successful future.

I’ll be keeping an eye on things, stay tuned!

-Adam Montana

Yesterday held a few interesting tidbits for Dinar Investors, not least of which was a statement by Iraqi Foreign Ministry regarding the current Chapter VII sanctions against Iraq. Chapter VII currently keeps Iraq from functioning as a completely independent country and will probably have a major role in the value of Iraq’s currency and their ability to move into global markets.

According to the Kuwaiti News Agency (KUNA),

The Iraqi Foreign Ministry said in a statement that minister Hoshyar Zebari headed the Iraqi side at the meeting, while the US party was led by the Deputy Secretary of State Jeffrey Feltman.
Discussions at the meeting dealt with various issues of common concern, current regional affairs and means and plans for boosting security and stability in Iraq in particular and the region in general, the official statement said.
They also dealt in particular with the means to relieve Iraq of the chapter seven, efforts to enable Iraq restore its international status that it had enjoyed before issuance of the UN resolution 661 in 1990, in addition to the US honoring of its pledges with regard of the withdrawal of the American forces from the country.

Hat tip to one of the commentators here on DS, thank you for the note!

It’s amazing how such an amazing day of news…. financial news at that, has generated so much chatter and rumors being posted from so many. Is it a coincidence, or are those who are connected to “sources” finally hearing the real deal is coming down the pipe? I certainly don’t know for sure, but I have discovered a few fantastic articles that give me tremendous hope about my investment in Iraq. The best part about these articles is that they are ALL discussing BIG BUCKS being dropped in Iraq… wish I could join the fray!

Check these investment articles out…

Isn’t it a great time to be an owner of the “New Iraqi Dinar”? Did you read all the news of frenzied activity surround our investment today? Unbelievable! Let’s just take a step through what was shared with us through THE NEWS just yesterday, January 20, 2010. See if you can see a pattern or direction when viewing all the news articles one after the other. I think you’ll be amazed.

Article Title:  Prime Minister Maliki – Iraq Needs Every Arab Country

Article Excerpt: “We are keen to bring Iraq back to play its role in the Arab region.”… “We are moving to complete the building, based on the will of the people has ended the suffering of Iraq and the atmosphere has become clear…”

Link: http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.pmo.iq/index/03-1143.htm&rurl=translate.google.com

Tidbit: I am reading the pride of the Iraqi Prime Minister to his Arab brothers, asking for and taking his rightful place among his counterparts within the Arab region. I don’t think I’d be too far off if I said he was informing them of both Iraq’s intentions and efforts.

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