After researching this phenomena of the Dinar for over 5 years now, I have come to the conclusion that this was a long shot at best. My research has led to many facts that lend themselves to a non-event with the Dinar. Many people have pointed to Germany after WW2 and how their currency revalued tremendously. Well that condition is so far removed from what Iraq has gone thru. The Dinar was artificially inflated by Saddam at over $3. In actuality it was as worthless as it is today. I am listing some of my research. You decide for yourself.
Now some of you will slam me about dates on these articles or tell me I have no faith or that these articles are just to throw people of from what is going to happen. Well, I respectfully and strongly disagree. For 5 years I have faithfully believed this would happen and never wavered, but the facts are indisputable. We have been conditioned by gurus and well meaning people that this event will happen. The dinar will raise in value according to the needs of that country, but not to the extent of a 1000%. Very very unrealistic people. I will keep the dinar I have and exchange it when I know I can at least get some of my $ back. Henceforth I am not going to continue down this road of fantasy with this currency. I am leaving all web sites that continue to lead people to believe the pot of gold at the rainbow. I wish you all the luck, but you all will come to the same conclusion in the short term. I have met some very nice God fearing people here at D.U. I will miss you all very much. God bless all!!
Forgive me.. as I did not read all of your links but I have been following and studying Iraq News as well as IMF and World Bank documents etc.. for the last 3 years solid.
One thing I do want to point out in regard to Saddam's ruling and the artificial rate is THE WORLD did not want anything to do with Iraq. Who wants to do business with a vicious dictator?
The world KNEW that Iraq was a great country of wealth.. one of the richest lands in all of the world.. Saddam was hoarding all of this wealth for himself while the Iraqi people were starving and being tortured and killed.
Therefore we went into this country and removed a brutal dictator from power and gave the Iraqi people a NEW life, a NEW constitution..
We are giving them the opportunity to come on line with the rest of the world.
In becoming a member of the World Trade Organization, they must meet certain obligations. They must have certain banking and tariff laws in place.
The IMF and World Bank's primary job is to study the economies of countries. They then apply the rate of exchange to a country's currency which reflects the country's gross national product. (GDP).
Let's not forget it has been a little over 10 years.. it has been a little over a year since we pulled our troops out. Recently, we have had to send more troops BACK to Iraq for one reason or another.
The past decade we have been helping Iraq rebuild their infrastructure, updating their banking systems, training them on the use of these systems, explaining new banking laws to them and WHY they need to change the laws they have. This is has been a very laborious process.
There is also the language barrier in the writing of their constitution. When the constitution was translated from English to Arabic, there were some things that were still left vague.. They are still arguing some of these things to this day.. for instance HOW MANY TERMS the Prime Minister should serve etc.. just as an example.
My main objective here in trying to explain all of this is to remind everyone, this has never been done before. What I mean by that is, we have access to more information than we had during WWII, Germany, and EVEN Kuwait. We are actually getting to WATCH this go down like never before. The internet did NOT exist during WWII and during the Kuwaiti war it was just starting to grow some legs. YES, Iraq's rate was artificial and inflated but it has been reported their actual rate back in the 80's and 90's was around the $2.50 mark.. give or take.
THERE IS NO DOUBT in my mind, that if Iraq will work with the global community and be a civilized and relatively stable country, they could support an even GREATER RATE INCREASE. MANY MANY global LAWS have been put in place since Kuwait and WWII. There is actually methods to this madness.. LOL... but we have to not only educate ourselves with what is happening in IRAQ, but look at the IMF and World Bank... READ what is out there.. It has helped me to have peace. YES, this may take a while. It already has.. It may take even longer.. but just keep in mind, this is different than anything before and read up on currency rates of exchange and how they are applied by the IMF and World Bank and that will help make a LITTLE more sense of all of this..
I appreciate your post.. I really respect people who want to get at the truth of the matter.. as for me, I'm still searching my friend..
I really, really appreciate your perspective on this. I have so much respect for all of the members AND the leaders of this site. At the fall of the economy in 2007-08 I lost everything. 20 years of hard work taken away by a government that doesn't care. I cannot pick up the pieces of my career again because of the nature of my career. My faith in God is the only thing that keeps me going on a daily basis. I have family members in just as much desperation as I, and was hoping that I could be the one to ease the pain. As I am fully aware, I am among millions with this affliction. At my age I must make the decision to go back to college and re-train for another career. Not something I want to do at my age, but it must be done. If during my re-training the Dinar RV's then I know at least I can pay cash for my tuition. LOL.... I truly hope you are right Ms. Lily. We shall see!