8-23-2012 Frank: Kuwait and Iraq both need their currency to be in the $3+ range in order to do fair and equal commerce and trade business between the two of them. I am here to tell you that the removal of the three zeros from the dinar notes he's (Dr. Shabibi) kept a log for it and he did it and he has two sets of books: one of them with the three zeros listed and one without it.
He has to test run it. He is running the country with these two books. One runs the country and one is paying for the bills. This month (August 2012) the CBI said the project to delete the three zeros (to add value to their currency next month) will pass after the end of the political crisis.
When is the end of the political crisis?
The moment that you see Talabani come out of the hole that he is hiding in the political crisis will come to an end.
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8-23-2012 Freebird: It looks like Talabani is going to return the first week of September. Just in time to hold a National Meeting and give the go-ahead to the CBI to make their move. If everything works out as planned, we could be just weeks away from realizing our dream. Keep the faith.
8-23-2012 Dalite: That day is, unfortunately (collapse of USD), approaching rapidly. It would start a 3 way love affair in which Iraq would need to consider a move to vacate the falling dollar as their peg, and move to a more successful currency, or basket of currencies in order for any change in value to actually have a change in value that matters outside of their borders.
FWIW, next week is a week of worry for DHS. Emotions are high, and the RNC is being prepared for in apprehension. Today's unemployment figures were not well appreciated by Wall Street.
Gold and Silver are on the rise again, meaning the dollar is on the decline. It wouldn't be a far reach to see Dinar value increase during Forex hours, only to go back to the program rate after hours.
If the Dollar crashes, they may have to consider a move to vacate the dollar to keep the program rate viable as a hedge against inflation, until they pull the trigger on currency reform.
8-23-2012 Zigmeister: That would be great if they don't kick those three zero's off the train. However I have a question for you Dalite. In researching re domination a while ago it mentioned countries who are planning on re dominating their currency are a bit more reluctant to do so close to an election.
They are concerned for obvious reasons, if the people are unhappy with the RD result it could be counterproductive for the party who is leading the country.
As I understand it Iraq has elections coming up in 2013, Iraq is a bit squeamish when it comes to taking chances, and who knows what Maliki has in mind, but I am sure keeping his party in the lead is a big motivation if an RD falls flat at first.
8-23-2012 Mountainman: The statement from the CBI couldn't be more clear. Re-evaluation of the dinar by deleting three zeros from the nominal value. Wow!! No specific time-frame or rate but we do know it's going down in 2012 and my suspicions are that it's going to happen right after the National Meeting.
Most likely in the next month or so, maybe sooner!!