FootForward Short Update - Post From Dinar Detectives

01/12/2013

22 Comments

 
1-12-13 Footforward: Why are the banks opening on Saturday. It is not to get the dinar off of the street, it's all been collected. The only people that have dinar in Iraq are the rich and those that are connected and who know what is going to happen.

99.99% of the people in Iraq do not have dinar, they use USD. So, why are the banks opening up on Saturdays?

They are going to have a massive demand for people to go into the banks, so what situation would facilitate having the bands open an extra day?

What if you have an RV & the people need to change their dollars for lower denoms. They are getting the people prepared for after the RV. I don't think they will be open just yet
...
 


Comments

Coach Maple
01/12/2013 10:06am

Foots are you sure there today becu I see nothing that they are open today online.

footforward
01/12/2013 1:42pm

Footforward, if I understand correctly, your feeling is that the banks are open on Sat. so that people of Iraq can purchase lower denoms so as to be able to have proper denoms to use once RV occurs??
Dejavu

ironman
01/12/2013 6:10pm

The move to open the banks has a very specific set of reasons, some which you would think are to help the people and some to help the bank. But mostly it's about maintaining order and keeping the status quo.

Yes, the currency they have on the street is worn and needs replacing but if that were the sole reason for operating the banks on Saturday then they would be encouraging Iraqi's to exchange 1:1 IQD for IQD which they are not. Nor are they exchanging for lower denominations, which are not in circulation yet. NO - they are opening the currency windows so the people can buy DOLLARS. Why?

Right now the USD has a higher value which is appealing the the general populace and the CBI has been trying for more than a year to get all the IQD OFF the streets. WHY? As one of our astute gurus mentioned, there is precious little IQD on the streets - only the wealthy have any in substantial amounts. WHY?


The simplest way to explain it is this; You are holding IQD right now which is pretty to look at but is of vrey little value compared to the USD, hoping that an RV occurs which will make the IQD (which is actually the New Iraqi Dinar 'NID') worth at least three times MORE than the USD, right? Making many of you instant millionaires.
For the people of Iraq who possess only USD the inverse will happen. If a straight out RV is what we get, say at 3:1 then all the USD they have been encouraged to buy will overnight be worth only one third what it was the day before.
The people are being purposely cut out of the deal.

Hopefully they will do at least 1:1 in-country USD:NID/lower denoms or there may be a whole lot more unrest than they've seen. The GOI does not want a nation of millionaires, but they have to find a way to get the money to the people ie: Erbil or this powder keg will ignite quickly.

Vote4RV
01/12/2013 10:14am

Talked to BWM after the Thur. call. He was talking to foot and was invited to the next big call. The info is a very interesting to say the least. I hope he is able to make it. I am going to get my seat early. I hope q and a is fixed so we can listen and then talk about what is going on. It certainly lines up with what Foot has been believing.

JhKY
01/12/2013 4:08pm

Where is the post or info of BWM that FF mentioned in the CC call last Thursday?

Dr. Michael J. Randy link
01/12/2013 10:25am

Dear FootForward,
Both you and I are in accord. Of all sources of intel. I find
you to be the most accurate. Just thought you might like
to know.

Frogy
01/12/2013 1:51pm

I'm with you.

Eric
01/12/2013 10:53am

Of course its for a RV, just as everything that happens in the news is. NOT. Maybe they want more customers and are giving away free burkas?

Santa Clause
01/12/2013 11:03am

Foot,

As we say in the South-YOU DE MAN

Janet
01/12/2013 11:15am

Time an prayer an wait on Okie

borealistx
01/12/2013 11:18am

We've seen several articles in the last few weeks that the average people "in the street" are complaining about the condition of the dinar. They're torn and almost unusable and stores, street merchants and taxis are refusing to take them. Doesn't sound much like there are no dinar in Iraq. So I'm not sure about this one, Foot...

beetle
01/12/2013 2:47pm

Yeah, i agree even if it is on 1% of the people...just saying

maryk
01/12/2013 10:01pm

@beetle... Actually FF said 99.99% don't have dinar which leaves a grand population of .01%. That may be the people in the Embassy. LOL...

JhKY
01/12/2013 4:01pm

IMO this news backs up or is at minimum consistent with what Foot is saying. If some of currency tendered for everyday business is torn and worn out, that tells me there are not a lot of dinar on the street

Fed Up With Iraq and The IQD Team
01/12/2013 11:25am

FROM AIN (All Iraq News Agency)

Urgent….Iraqi Parliament postpones regular session till Monday
Saturday, 12 January 2013 13:18

Baghdad (AIN) -The Iraqi Parliament postponed its regular session that was scheduled to be held today Saturday till next Monday to give the blocs time to discuss the pending law drafts.

Parliamentary source told All Iraq News Agency on Saturday "The session was postponed till next Monday due to the earlier mentioned reason."

"This resolution was reached between the Speaker Osama al-Nijauifi, with the political blocs' leaders during a meeting held today," the source added.


Here we go again - This country is NOT worthy of an RV.

They have no sense of urgency whatsoever. They're a disgrace to the Arab World.

Jamma
01/12/2013 11:57am

After 9 years in this investment is anyone surprised?

Abel
01/12/2013 11:59am

Foot, Great job with your finds and common since approach. Had a thought nothing more. What if it RV in country at 1 to 1.15 all of the Iraqis get 1 to 1 the bank get's the .15 with the new lower denomination. After all of the USD are off the street they RV internationaly 3.22 to 1 USD all Iraqis will make 2.22 per dinar good for Iraqis larger reserves for the CBI? Any thoughts?

112foru
01/12/2013 12:03pm

Next week I will be curious to hear what your explanation is.

Karsudj link
01/12/2013 12:14pm

Thank you FF for all you bring to us. We (husband & I) love to listen to you, spiritually and with your vast and confident knowledge of pending value Iraqi currency.

RE: Iraq --- Ten months ago I was really thinking of investing in Iraq, post RV/CE. . They are soooooo slow to move, I worry that they may have lost potential investors, after pumping themselves up last year at the conference in England.

Richard
01/12/2013 8:15pm

FF WHAT IN THE WORLD IS A "DENOM"?"PLEASE IF YOU, ARE REFERRING TO DINARS, THE PLEASE SAY DINAR.. IT'S LIKE YOUR ENGLISH IS NOT WERE IT SHOULD BE.. A NEW PERSON ON THE BIG CALL MIGHT TAKE DENOMS FOR ANTHER CURRENCY.

Karsudj link
01/14/2013 12:58pm

Richard: "Denom" is "denomination" numeral value of any currency, example $50k, 25k, 10k. But, when talking about dinar, "taking the higher "denoms" off the street or out of circulation, because it is worn out, or that they won't need those high denominations any longer to buy a loaf of bread and to conduct business. Iraq's objective is to bring out the lower denoms (just printed bills).

Dinar is Iraqi money or IQD. FF did not confuse those!

I'm not the expert here, I just wanted to help clarify "denom" and "dinar".......Hope this helps!

Joseph Garcia
01/14/2013 3:00am

foot im with a group thats waiting to cash out in reno and would like to talk to u in private.


Comments are closed.