Chat Room – News, Excerpts & Highlights

*dinard: The typical economy in need of currency reform is cash based and highly dollarized, with multiple currencies circulating at the same time.

*dinard: a redenomination makes no one richer or poorer. Technically most redenominations of currencies are undertaken by using factors of 10, 100, or 1,000 and simply moving the decimal point a certain number of steps to the left to establish a new value. Such a change is simple to explain to the general public and easy for companies to implement. It also represents a clear way of monitoring whether price gouging is taking place.

?*xyz: Free listen from horse’s mouth
Introducing a new currency is a complex process—one that Turkmenistan completed successfully

*dinard: @xyz article seems to show that imf would rather just redenominate instead of RV.

*xyz: @dinard for the case of Turkmenistan … does iraq have same symptoms?

*dinard: @xyz they have hyperinflation thats for sure. other than that it doesnt say much about turkmenistans situation prior to RD.

*dinard: the king of currency exchange

sandyf: @xyz: @chattels he appears to be a strong believer in LoP aka re-denomination — next please ask him if he is certain that he will lose, then why has he sold all his IQD? Why keep discouraging peeps – It is fairly obvious you want to put your own interpretation on what gets said, come to inaccurate conclusions and then try and make out they are fact.

sandyf: I came into this in 2004 as the result of being scammed into buying dinar by an MLM company, had I known then what I know now things may have gone in another direction.

There is a huge difference between taking a punt on a rank outsider than making the bet because someone said it was a sure thing. At the time I hadn’t learned my lesson and was scammed again a couple of years later by a guy called Marshall Wayne(aka Donnerbauer) out of 500K dinar.

After that I became a bit more careful and started to do a lot more homework. About that time I was quite involved with Crystal Reports and creating reports for accountants which gave me a fairly good understanding of how accounts are constructed. It became fairly clear that the gurus were playing on peoples lack of financial understanding to twist things to suit their own agenda.

There was a female guru a few years back that claimed the RV had happened because Iraq was talking about Letters of Credit, quite obvious she had no idea what a letter of credit was. There are some that may be happy to float along with the flow in blissful ignorance but I am sure that there are just as many that would prefer the facts.

sandyf: All financial procedures are well documented and readily available on the public domain, it is only the reasons behind implementation that is open to question. Revaluation, Redenomination and exchange regime are all recognised procedures that can be debated under reasoned argument.

There is no point in any debate whatsoever where one crystal ball is no better than another. People can express a view but that view cannot be open to question or held to account when there is no foundation.

It really is a question of take it or leave it. There are those that cannot leave it, ask questions and then complain when there is no answer. A couple of weeks ago I made a post which obviously some did not read or they wouldn’t continually ask questions that had already been answered.

Others decided to try and pick it apart, how can “trading” be interpreted as “groups”, which dictionary did that come from. This is how the post started. “Despite what some may think I don’t believe that it is all doom and gloom and would like to believe that there is something in the background that would lead to a positive outcome, but not in the way that is being suggested.”

dinard: @sandyf everyone gets mad when they hear something they dont want too

*Duke-77: @JoeSchmoe the float is true AFTER the anchor rate is placed on the dinar. The anchor rate is an RV.

?*Duke-77: One more thing for the gurus that keep talking about an RI (reinstatement). A reinstatement means a currency is being placed BACK into circulation.

This is not possible with Iraq unless they go back to the old Saddam notes. Hate to bust the “Intel gurus” bubbles but they are so far off in left field they don’t have a clue what a reinstatement is. The dinar we hold has never been higher than it is today. The old dinar was known as SWISS DINAR.

*Duke-77: Reinstatement is the process of restoring a person (thing) to their (its) former position. Regarding insurance, reinstatement allows a previously terminated policy to resume effective coverage.

*Duke-77: The New Iraqi Dinar is what we hold. The Swiss Dinar is history. There will never be an RI. It will be called an RV because they will re-value or realize a new conversion rate. That’s my stance.

You may disagree and that’s OK too. Just take me to the bank and make me rich and the rest will be history in my mind, ESPECIALLY IRAQ AND DINAR FORUMS…

*Tebow: @Duke-77 have always believe the CBI would come out with a true value into the world market and floats against all world currencies.

sandyf: @Duke-77 You are partially right. you cannot reinstate a currency that has never been removed.

Prior to the introduction of the new IQD by the CPA, there were two versions of the dinar in use, the Saddam dinar and the Swiss Dinar. The new dinar was introduced at 1 to 1 on the Saddam dinar and 150 to 1 on the Swiss Dinar.

chattels: @sandyf good morning

sandyf: @chattels Morning, or afternoon as it is here. I don’t know where Kap is getting that figure from as the actual figures from the CBI are shown here.

sandyf: @chattels Dug up another article on Kuwait. March 18th 1991 There is no Kuwaiti currency: the Kuwaiti dinar has no fixed value and the Central Bank and other banks have yet to tell people what will happen to their savings or to find records of millions of accounts. Free Food and Gasoline –

For now, people living here are getting free food and gasoline. But no salaries are being paid, and a large-scale review of employment records, with a view to eliminating foreign workers like the Palestinians, has yet to get under way.

[pm]chattels: @sandyf I tried to give my understanding of your position / concerns in response to some question(s) in the chat. I hope that I did not do great and violent error to same.

sandyf: March 18th 1991 Then there is the problem of activating the banks and circulating the new Kuwaiti currency. The Government says it has printed notes, but it is far from clear how the money will be distributed and on what basis.

?sandyf: March 18th 1991 Bankers said they understood that Government policy will be to consider that everything in Kuwait will revert to where it stood on Aug. 1, the day before the Iraqi invasion.

That means that people who held bank accounts then will preserve the value of their money. But the problem is how to locate bank records and find enough employees to carry the policy out.

sandyf: @chattels I won’t see what’s been said until I see the summary on recaps tomorrow. It doesn’t really matter I appreciate it was in good faith, thanks. Sometimes it is like a brick wall, it doesn’t matter if the CBI info exists or not, there are some that deny its existence.

sandyf: @dinard It’s human nature. I would think that the percentage of people that have been misled, myself included , over this is extremely high. No one wants to admit they may have made a mistake.

[pm]chattels: @sandyf Are you able / inclined to liquidate the dinar you hold or do you intend to ” play it out ” ?

sandyf: There is a tropical storm about to hit so time to batton down the hatches.

[pm]chattels: @sandyf If you intend to hold dinar is there an amount or percentage of assets you consider wise ?

[pm]chattels: @sandyf Laterz, be safe.

sandyf: @chattels As far as I am concerned it is already dead money and has been for over 10 years, just sit on it and hope there will be a return at some point. At my age it is not so much of a benefit as it would have been years ago, maybe just live a bit longer with better healthcare.

[pm]chattels: @sandyf Understood.
[pm]chattels: @sandyf Let me know if you get that crystal ball fixed :).

[pm]chattels: I am fond of reporting that I got involved with this speculation not becase I was smart, but desperate and hoped to get lucky. Maybe we will get lucky.  : Or perhaps our children may.

dinard: hopefully i get mine while im young lol

Duke-77: With the value inching up as the numbers go down, I would say there’s a good chance of a revaluation soon after the elections or Ramadan.

If I didn’t believe this, I would sell all I have and never look at it. Since President Trump took office a lot has changed and the Iraqis will do as they are told or suffer the consequences. He doesn’t play games.

I would say Iraq is just about ready to make the change and it’s because he has pushed them to do so. After they got told no free money would be given at their reconstruction summit, they started making these moves in strides. They finally seem to get it, that an artificial rate will only keep them poor and outside of what’s happening on the international stage…

Duke-77: Or maybe they finally get that nobody will invest as long as the corruption is running rampant. That’s why I believe Abadi is arresting those who stole money and said the date didn’t matter and now the spread all of the sudden has came within the IMF’s guidelines… Good change is taking place and it’s easy to see for the first time in almost 7 years that I’ve been in this

xyz: Dodging the question as usual imo. My original assessment still stand that guru sandyf doesn’t want to jump from TOP OF TREE alone but want to encourage as many dinarians as possible to accompany him.

sandyf: @xyz: @chattels he appears to be a strong believer in LoP aka re-denomination — next please ask him if he is certain that he will lose, then why has he sold all his IQD? Why keep discouraging peeps – It is fairly obvious you want to put your own interpretation on what gets said, come to inaccurate conclusions and then try and make out they are fact.

xyz: Now am done requesting honest answer from guru sandyf

xyz: It can be scary and lonely up there on top of tallest tree 369 feet (112.5 meters) –

larrykn: it just amazes me how somebody can hold the dinar an act like it won’t be worth anything, why not get rid of it an move on an stop bothering everyone else

larrykn: @xyz I went thru the Redwoods in 2016 we have a pic next to one, we look like ants compared to it lol

xyz: @larrykn that is exactly my position … I don’t get it … am done asking further questions since its like beating a dead horse.

larrykn: @xyz I understand, it just that people listen to people like him an its just his option which doesn’t mean anything if you don’t let it. but some people need to be told something even if its not true

xyz: @larrykn but some senior dinarians take advantage of their status as guru irresponsibly

xyz: Baghdad hosts an investment conference at the end of this month

“Together to promote Iraq”. “The conference will be held on April 29 and 30 at the Baghdad Hotel, and will present investment opportunities in Iraq and the extent of facilities provided to investors,”

xyz: cbi: The book “Economies of Iraq: ancient past to distant future” –

xyz: cbi – Synopsis: Looking ahead, the book proposes a set of conditions, which will need to be created for Iraq to achieve economic development and functional democracy, in the distant future.

?Spectra: sandyf: I came into this in 2004 as the result of being scammed into buying dinar by an MLM company, had I known then what I know now things may have gone in another direction. —– 2004 —- What MLM company was selling dinar then…?

Spectra: Please explain this regret ????? ——in 2004 —-there was no GURU’S that ive ever heard of…..only people buying this were those with military contacts,also no one made you buy dinar….or MLM …IF THIS TRUE

xyz: cbi promoted book: searching the book with ‘keywords’ hahaha      LINK
surprise –> click next/previous links ….

Spectra: @sandyf I Will personally look it up for validation but nevr provided the name of this company…that scammed you….

Spectra: @sandyf since you like to promote your self as a factual individual,you must also include the name of this scamming company you speak about…..This goes two ways….
22 Apr 18, 08:25 AM

Iraqi Dinar Guru opinions 4-22-18
It’s Been a VERY Busy Month.