Zig’s Place Chatroom News Late Thursday Night 4-14-22
Zig’s Place Chatroom News Late Thursday Night 4-14-22
Zig: Welcome to Zig's Place, a chat room for dinar speculators and others....discuss any topic that you wish
Zig: Member TWW's account of his experience with the Kuwaiti Dinar:... TWWlll:... "I was learning to trade currencies in the 70's...I was working in Riyadh in 1989 for a developer, and Amed, my boss, was telling me of a 'rumor' that Kuwait was planning to 'adjust' their currency... Remember, Iraq was attacking Kuwait's oil wells...
Well with the help of USA & international assistance, adjustments were about to take place... I never heard the RV by name, just an 'adjustment'... Their currency at that time was .05... While there I bought quite a bit of their currency, quite a bit in Riyadh... I was back in Honolulu around March when my currency broker from the past called me at home, and mentioned that Kuwait's currency adjusted to a higher value, 3.47 USD...
I called my bank, Bank of Hawaii, and they confirmed... So I went with my bills and cashed them in... I had to show my passport with the date when I was in Egypt... it was my former boss in SA that called about their RI/adjustment then I went through his broker... It went from 0.05 to 3.47 USD... It was just an exchange, no tax. ... There is more to the story but this should give you enough to share at this point... It did happen no matter what the so-called Gurus are telling you."
wdave1 Dave Most people I know that got involved with this brought other people along for the ride or at least tried to.
Sheila Zig Thank you for reposting TWW's experience.
Butterfly 2022-04-14 11:21 Shafaq News/ The U.S. dollar (USD) closed at the opening rate against the Iraqi dinar (IQD) in the markets of the Iraqi capital, Baghdad, on Thursday.
Shafaq News Agency correspondent said that al-Harithiya and al-Kifah Central Exchanges traded the USD at a rate of 147,775 IQD to 100 ahead of the market closure.
In the local markets of Baghdad, the buying and selling rates settled at 148,250 and 147,250 IQD for each 100 USD, respectively. https://shafaq.com/en/Economy/USD-IQD-exchange-rate-remains-unchanged-on-Thursday-7
butterfly Al-Maliki: Iraq seeks to make understandings with all political forces ............ https://shafaq.com/en/Iraq-News/Al-Maliki-Iraq-seeks-to-make-understandings-with-all-political-forces
NORV butterfly I don;t see people spreading "hatred" as you call it..Just facts that people don't want to accept. Anyone can tell you what you want to hear, but that is not reality!
NORV I can tell you for fact, that what is proposed in Iraq and being introduced and educated via symposiums throughout Iraq is a currency exchange. Whether or not the CBI accepts that proposal is yet to be seen. To me, why would they allow the citizens to be educated on such an event if that was not going to happen?
NORV The currency exchange is a 1000 current dinar to 1 new dinar exchange beginning 2023.
NORV I would assume that they would have to form a new government prior
NORV I also believe they would have to officially tell the citizens via public announcement that is going to happen.
NORV I also believe that parliament would have to vote and approve a new currency
NORV But is fact that is what is being discussed. They are NOT talking about a RV or any other significant gain.
NORV So we will see what happens over the next 8 months or so.
NORV People need to come to realize a LOP is very possible.
Sah If Iraq were to do a lop like some other countries have done, it could tend to cause high inflation in the country. I don't think they will do it. They just brought food prices down some and are trying to keep it from inflating in price again. I think the first thing they want to do is bring the value up to 1200 dinar to 1 dollar. This will help the poor people from when the government devalued it last year to pay it's employees. I am hoping that it will be better than 1200 to 1.
Sah 1 to 1 would be a good start.
Sheila Sah welcome back
TWW ع.د 1,200 From IQD – Iraqi Dinar Type to search... To USD – US Dollar
Type to search... 1,200 Iraqi Dinars = 0.8159975 US Dollars 1 IQD = 0.000679998 USD 1 USD = 1,470.59 IQD...xe currency converter
TWW Early flight in the am morning
Sheila TWW sleep good TWW safe traveling
NORV Sah Unfortunately, that is NOT what they are planning at this time. They ARE planning a new currency with a conversion of 1000 current dinar to 1 new dinar. That new dinar would open the economy to global investment, international transactions using new dinar and give them the ability to raise the value of the new dinar based on the growth and success of Iraq's economy. The initial exchange rate of the new dinar to the USD would be $0.50 according to reports. which is not a RV, in fact a loss in value considering the current dinar is worth about $0.68. Of course they is subject to the central banks approval and parliament passing legislation allowing for a new dinar. But I cannot see the purpose of these symposiums teaching citizens that have been going on since mid last year if they were not going to do it.
NORV TWW any numbers on FOREX mean nothing since the dinar is pegged to the dollar. The rates you see simply reflect the rate of the dollar against the dinar since the dollar is floating. Until Iraq unpegs and floats themselves does this benefit us.
NORV The documents published on this new dinar do reflect floating the dinar with a basket of Middle East currencies.
NORV Sah I would recommend reading the presentation/report submitted to the central bank on the need for this new dinar. They cover in detail the current conditions in Iraq and how those conditions now warrant the change. You will need to translate. https://www.iasj.net/iasj/article/216703
Sheila Sah I believe there is so much going on here than just the revaluation of the Iraqi Dinar. I am staying the course regardless of what the NORV's in this community are posting.
NORV sheila There can never be a significant RV of the dinar under the currency circumstances. There is well over 100 trillion dinar in circulation.
NORV sheila You can believe whatever you want, but that is fact. Until that changes you theory of a RV is not going to happen.
NORV People that know me know that I have been a huge proponent of Iraq building a diverse private economy away from oil. Such growth could then raise the value of the dinar gradually over time as the economy succeeds. But there appears to be no indication they are going to do that...especially since they have this new economic study and various symposiums to push for a new currency.
Sheila @NORV Wow, you really got that copy/paste thing down pat.
NORV I been typing not coping and pasting.
NORV You can dream till the cows come home, but reality is reality. And the reality is Iraq is pushing for a new dinar which is a re-denomination or LOP. There is no gain.
NORV Clearly stated in the publication the proposal is a 1000 dinar to 1 new dinar exchange. That new dinar would have an exchange rate of $0.50
NORV in other words, you could exchange 1 million dinar for 1 thousand new dinar. They exchange it for $500 usd.
NORV Most people I know paid over $700 per million, some as high as $900 per million so it would be a loss!
NORV Sure Iraq could do this and eventually build a thriving economy with this new dinar, but even so, you would not see the profit you are expecting. IF the CBI were to float the dinar thereafter, it would only rise to an exchange of $2 or $3 which means your profit years from now could be 2x or 3x your initial investment.
NORV The good news is that finally, the guru lies will end..giving people who fell for the BS and hope a chance to move forward.
Sheila @NORV Well since you ask so nicely for all of us to "jump" - guess we should be asking you to say "how high". lol lol lol
NORV You can bash my posts, but at least my posts are back with real documents, photos and news articles explaining what is happening in Iraq. Not one of these gurus who lie ever have any proof
Sheila @NORV no bashing. just not going to do what you keep badgering all of us to do.
NORV in almost 20 years invested, not one idiot guru has proven a single statement of a RV
NORV sheila Im not tell you to do anything other than read the truth.
NORV sheila for some reason you like to read and believe the shenanigans from the gurus over the truth
NORV https://www.iasj.net/iasj/article/216703
NORV legit report
NORV https://www.pukmedia.com/AR/details/?Jimare=160032
NORV legit news article
Sheila @NORV "legal" is latin for "fiction"
NORV http://www.baytalhikma.iq/News_Details.php?ID=1467
NORV legit symposium teaching citizens of what is going to happen
NORV lol whatever keep dreaming
Sheila exactly
NORV gurus is latin for liars!
NORV Btw, what I posted there is only a small sample of the media news and symposiums taking place over the last 8 months or so in Iraq. Funny how not one guru talks about them lol
NORV :Goodluck:
Sheila Thank You!!!
Zig :Garfield: Members & Readers.... :Coffee: and a coffee roll sheila sheila ...When I was at the other forum I invited @Kaperoni to come there via PM at Dinar Alert forum....I knew of him from listening to his calls....have regretted that ever since
:Laughing: Just kidding (maybe)....He is here now as @NORV as most know...Most people in this community don't like him because IMO he tells you (me) what we don't want to even "consider".....that's human nature...we love listening to those who tell us what we want to hear....I consider "everything" as I do not have a
:Crystal ball: Of course there are people in this community with an agenda, etc....you just have to take it with a grain of :Salt: IMO....remember that we are "speculators"....no guarantees!!....as long as people who come in here stay away from "name-calling" and being "nasty" they are welcome here....we won't kick anyone out for telling us what we would rather not even hear....lol...stay safe and have a :Nice day:
Zig: I want to remind everyone who reads this chat that WE GIVE NO INVESTMENT ADVICE HERE.....This chat is used by people to DISCUSS and not to ADVOCATE doing anything based on what you read here....Please make your own investment decisions!!...much of what is posted here are OPINIONS and HEARSAY.....there are UNSCRUPULOUS people in this community so please BE CAREFUL!!....My advice is to take anything you hear or read in any chat//forum this way: take it with a grain of salt
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