QUESTION FROM GEORGE – Is it true the postponement of the deletion of the zeros?

Happy Saturday Dinarians,

question-markWell, as my regular readers know, I normally don’t post on a Saturday, but with all this time off for Christmas and the New Year, I felt why not drop in an article since it has been several days since my last post.

I wanted to give you this Mail Bag question I received from George – It is about the CBI’s reserve and the amount of IQD printed.  Here is his question:

My question is that the Iraqis said in their release that they are postponing the “delete the zeros” event

Because they have 34 Trillion dinar in circulation. Is this a typo? It would seem if there is that much

Dinar out there we are sort of “screwed” if you’ll pardon the term.

What do you know about this?

Thanks!

George

This is my answer to George, which is only my opinion based on the years of reading news articles, take it as you wish.

I have heard and read news articles for 3+ years now about postponing the deleting of the zeros, etc.
So, I don’t put too much value on these articles anymore, I believe they are “recycled” to sell newspapers in Iraq.
I have always heard the quantity of IQD printed was aprox 37 Trillion – give or take a few who really cares!
In reality, I own a few million IQD and you own what you own and that is all that really matters right?
The IQD that we both hold is legal tender and can be redeemed at nearly any global currency exchange even today, so it has value – what we are waiting for is it to significantly increase in value.
I understand that Iraq’s Central bank holds most of that 37 Trillion in their reserves, then the US Treasury, then other foreign banks of the original Iraq War Alliance Partners.
But, like I said, why should you and I really care?  We have what we have, and that is what really matters.  Just don’t go giving it to some Hack Guru’s scam, and you will be fine later when it does finally significantly increase in value.
~ Mr IQD

If you wish to ask a question, or add to my answer above, please use the form below.  Have a great weekend friends!

~ Mr. IQD

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4 thoughts on “QUESTION FROM GEORGE – Is it true the postponement of the deletion of the zeros?

  1. Hey MR. IQD, I think the point he’s trying to make is that with 37 trillion printed that the 1166 to the dollar is where it belongs because that’s economics. This is the main argument I give about a revalue, the value of currency is predicated upon how much is printed. The Korean Won is worth 1060 to a dollar and it’s been 60 yrs since we leveled that country.

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    • Hi Kenny,

      Thanks for your comment and feedback.

      I base my information on what the IQD was historically valued at before Saddam took over, and even while Saddam was the Dictator, and just before the US and World Community decided to artificially crush the value of the IQD to suppress the Iraqi Economy, thereby hampering Saddam’s ability to purchase additional arms and weapons.

      Those of us who are speculating on the significant increase in the value of the IQD are speculating that their currency will return to its previous value, once their Economy and Politics stabilize. Speculating on this even or process is perhaps just a fancy way to say “gambling” which is why I ONLY EVER encourage people to spend ONLY what they can afford to lose!

      The IQD may never increase in value, as you point out with South Korea’s Won – and we can even look at Vietnam’s Dong – both have much to be desired. South Korea is an economic powerhouse with their Manufacturing.

      However, I personally believe that since Iraq is estimated to be sitting on the World’s 2nd largest Oil Reserve, as well as has more natural minerals in their ground than any other Middle Eastern Country, AND has a recent history of a high value for their Currency!

      I’m willing to bet / gamble / speculate a few thousand of my dollars in the hopes that eventually (hopefully sooner than later) that Iraq’s political environment will stabilize enough to allow their economy to stabilize and Iraq’s IQD to return to its previous value before the Invasion.

      I’m comfortable with only spending a few thousand dollars, and I’m comfortable with waiting. However, I recommend to you and anyone else if they are NOT comfortable then by all means, move on to something else. 🙂

      Happy New Year Friend!

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      • I agree with you mr. IQD. The only way I think we that hold the physical currency could completely lose all we’ve put into this is if somehow what we are holding turns out to be counterfeit somehow or if Iraq comes out with a completely new currency. Even if we had to trade a 25k note in for a 25 dinar note, we could triple our investment if it was 3 to 1usd.
        I don’t think my currency is counterfeit…if it is it is really a good job and we have been royally lied to…as to its authentication. I seen on one dealers website that the 50 dinar is out of stock, could it be they are pulling all of the lower denoms back in for redistribution inside the country? Most sites don’t sell anything but the 25k, 10k, and 5k.

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      • Hi James,

        You make some really good points, thanks for contributing.
        I think the problem that Dinar Dealer may be having is the shortage of the 50 dinar notes! They are very popular along with the other small denom. I hold some small denom, but it is trivial compared to the 10K and 25K notes I hold. I remember once Ty with Dinar Banker (Sterling) was being interviewed on The IQD Team’s Conference Call, someone had asked him if they could exchange (after the “RV”) a 25K note, and get back change in smaller IQD denom. He said yes, that they at that time would be able to do that. Now, of course that would be contingent on inventory on hand.

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