Post From Peoples Dinar
Member Comments To Millionday News Time Posted 7-11-16
Part 1 Part 2
Unitedrich: If I understand and comprehend what I just read, I'm getting ready to do the happy feet dance. I'll believe it when I see it but millionday has never ever gotten into a rate situation to this extent before! Wow
Songbird: Thanks all! I have given up on getting my hat. I keep tossing it in the air, and now I can't find it!
Wildcat03: Pretty positive news!!
victorD: I read it as 1 dollar = 1.18 dinar or 1 dinar = $.0847.................I'm confused but I'll take $1.18 any day!!!!!
Swann1: I think this is an in country rate only and the foreign exchange rate will ne determined later.
Haus: Many have been speculating about an initial rate of 1.17 - 1.18 for years now. If everything is translated and read correctly here, it is interesting to see the Iraqis becoming very upfront about it now too! C'mon, RV!
Smokey Mtn Dinar: If I read this correctly, we have been hoping that 1 US Dollar would equal 3+ Dinar after RV. But now it looks like 1 US Dollar will equal 1.18 Dinar.
We will see. Hopefully in the VERY NEAR future. :) Thanks to all who brought the news tonight.
77doug: 1.18? I need to buy some more.
Haus: this will just be an introductory rate to relieve inflationary pressure... i still expect this to go upwards of $3.86 when all is said and done! C'mon, RV!
Cheri: Yes!!! Hope is restored!
Indraman: 1.18 Dinar = $1 (USD), which would equate to a conversion rate $.847 (USD) per dinar. Indy
MissyD: So to simplify 1m ÷ 118= Usd
Debubba: i read it at $1.18 or .84 which is right
Swann1: This rate will also get Iraqis to use dinar instead of USD. BUYING POWER!!
Unitedrich: swann1, I agree with you, I think this is an in-country rate, and as we well know, there needs to be an impetus to make the dinar more attractive than the USD to get the (under the mattress crowd) to pull it out.
Noeta: Never have I seen MD discuss a rate to this degree. I still have to keep myself grounded but this is exciting nonetheless. Thanks Hopes
Awesomedtl: Kowabunga!! Lol great news time!
GregHi: Great!! When???
Marion: Yowza! That is quite detailed! A new first! Coyoteduster, any popcorn with 72%cacao? Need some to calm down :D Agree Swann1 and Unitedrich about that in-country rate, they know the purchase value of the USD.
Hawaii~~girl: ~All in... and All Out baby cakes...one time, and "POOF!"~~
The woods : WOW ! I'm In SHOCK ! This Sounds like what we've been waiting for ! - I'll take 84 cents for every dinar I own ! NOW PLEASE :o)
I tried to look up Who the author of the article was (Ahmad Salami) and couldn't find anything except the reposting at another dinar site. Does anyone know if he's with the CBI or what his title is anywhere?
Hawaii~girl: i wonder if this could be the initial fixed rate inside the country...or, an international exchange rate. guess we have to wait and see...meanwhile... i owe, i owe, so off to work i go.
Jerryskinz: After 11 years I'd take .84 and never look back.
Bobsfun: jerryskinz, Me tooooo, Let's go fishin'!
Stevel: Thank you all that has contributed to this post. Happy days ahead. See you in AZ. Super fantastic news for all of us. Steve
Knight1123: Always said, I'm not greedy, I'll take whatever they will let me get..84 or 1.18. Not going to complain, still a lot more than I have now and can still help folks out. Thanks for the news.
Tribemom7: I would be nice to see some kind of confirmatiom :-)
Supperipn: Thai rate would be great I just hope we can cash in just enough to pay everything off and be able to hold some and wait for the rate to go up
Hopesway: supperipn, IMHO I would do A LOT of research before doing anything, but I am sure you already know that
Newgm: 1÷.84 = 1.19????????
Pilotman: The Billion dollar question....When.. ? 1st Half of 2016 is well past!
VictorD: I confused on how a country can had an "in-country rate" and a different rate for international. Can some one please give me an example of a country that actually has this already? Maybe I can study the currency of that country and understand this concept better. Thanks in advance...
Hopesway: VictorD, The reason I can explain this is because ocrush explained it to me. Our dollar is worth one dollar to us. It will never be worth, at face value, anything more or anything less. However, to the Mexicans our dollar is worth x number of pesos. THAT amount WILL change due to the changes of the market.
The dollar will always change for them, remain the same for us and vice versa.
So the dinar will ALWAYS be worth one dinar to the Iraqis, but not to us. Same with the Euro etc etc. Hope that makes sense.
Cheri: Hopesway, Definitely agree with you – but there is a change in country in that there one dinar is now able to purchase more products from overseas. So before, for instance, if they had to use 5000 dinar for a loaf of bread from Europe, now the may only need 10 dinar after the revalue. That one dinar that remains the same at 1 dinar before and after, now has more external purchasing power.
The woods: I'm answering my own question. Ahmad Salami is the Minister of Foreign Affairs in Iraq === What's that tell ya?
Brichards513: I wanted to chime in here to give you my personal theory on what might be happening here. Please understand that this is speculation on my part and is Just My Humble Opinion (JMHO) - nothing more and nothing less.
My thought process is that the INTERNAL EXCHANGE of $1.00 (one dollar) is equal to 1 dinar and 18 fils (also 118 fils - if I understand the fils correctly) is strictly to get the Iraqi citizens to turn in their dollars in for dinar - to give them a 18% gain in purchasing power over a one to one even exchange.
This will give the citizens the incentive to turn in the dollars for dinars - aka de-dollarization.
Once this process is complete and the citizens have in their possession the new plastic money - then they can make the next adjustment - which will be to the international exchange rate with the rest of the world (Globalization).
As Hope said in her response - one dollar is one dollar is one dollar, hence - one dinar will be one dinar will be one dinar.
However - after they make the second adjustment which will reflect the (global) international exchange rate - the purchasing power will improve.
So as cheri was saying - where something may have cost an Iraqi citizen 5000 dinar right now - it should only cost roughly 5 dinar after the first adjustment (where they are basically deleting the zero's).
Then - after the second adjustment to their actual international exchange rate - they may only need roughly 20 fils to buy what they had to use 5 dinar for before the actual adjustment to the international exchange rate of the dinar. I hope that I am making sense here....
Please understand - that this is strictly speculation on my part and JMHO. God Bless! B-rich