Moneydr: IMHO (in my humble opinion) ... I think the RV has happened. I think that the first tiers ... Countries, provinces, those individuals with over a hundred million dinar, etc... Have already cashed in --- their monies have been cashed into their accounts ...
Separate accounts for their dinar and dong of course (for tax purposes)... They were given their receipts for their deposits... And once the rest of we peons get our turn, the rates will go live all at once, and the IQD and VND already deposited into the first tiers' accounts will be available for withdrawal to spend.
No rates have been given yet, but will known once we go live ... (My personal opinion is that the IQD will go for $5 and the VND will go for $.50) ... Which I think is the beginning of this coming week. All the gurus seem to be saying the same thing .... Go RV.
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Easyrider: Personally I think the CBI is ramping up to do something for the citizens, the elections are near, the pressure has been applied both by the IMF, the World bank and most importantly the citizens Maliki is being questioned by Parliament and Chapter 7 to be lifted. From what I have heard the citizens are being told their value is to increase on Iraqiya Television.
RVPleaseToday: If a bag of camel chow cost 25,000 dinar before an RV, it would still cost 25,000 dinar after an RV of any size. Inside Iraq, a dinar is a dinar. If the currency suddenly becomes worth more dollars, it isn't going to make stuff inside Iraq cheaper.
If I'm an Iraq camel chow dealer, I'm not going to suddenly start giving camel chow away. Inflation would run rampant in Iraq. The only people who stand to make big money from an RV are those of us outside of Iraq who hold dinar we paid almost nothing for and want to exchange for dollars.
Dontlop: I like this article (??? Article???) the first paragraph talks about international use of the currency. How in the world can they revalue their currency and not add smaller denominations, they going to just round everything off to the 50 dinar note worth fifty bucks each.
They are adding other notes to what they have. The others wont be necessary after a time. The 25 k notes will be the first to go. They will need the 10k notes to make change for the 25 k notes.
Then when they are all gone they will still need the 5 kn notes to make change for the 10k notes but they wont need the 25k notes anymore and on down the line til the 1000 notes are gone.
They have said it could take two years to do this. They only took 3 months to exchange the bremmers in for saddam notes and that was in the middle of a war. If they just wanted to exchange in the notes they wouldn’t need a two year exchange period.
What does iraq lose if they give me 1 million dollars for their currency if its worth 1 million dollars. If they rv for a dime and its worth 100 grand and they give me one hundred grand for it, how much did Iraq lose? It's just an exchange, no gain no loss.
Now if they rvd first, then sold it to me for a thousand dollars, then I'd say they lost 999 thousand dollars but they didn’t. We helped them circulate their currency for them. We paid for that to happen.
Once it's all over the world then rv it. Now it's only redeemable for goods and services in Iraq, just like the dollar is only redeemable for goods and services or another dollar. Now I'm reaching.
You would think if they revalued their currency to be redeemable at a value equal to a dollar, that most countries would like to hold a few of those in their treasury as a foreign reserve.
Knowing they can redeem it for goods and services of Iraq, knowing how much oil they have. I'd say its a brilliant marketing scheme, disperse your currency all over the world then revalue it.
Sounds like that would be good for the economy, exchanging it back in for oil in the long run. That's the most popular export of Iraq. How else could they distribute their currency throughout the world? It would take a century to do it any other way.