I thought I’d help out by answering some of the weekly questions myself.
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After crunching the Currency Auction Data, I come to the realization that Iraq is running on USD rather than IQD.
You’re only looking at one side of the equation. Dinar are taken in via the auctions, and then put right back into circulation by the GOI buying them from the CBI and using them to pay salaries, local contracts, etc. There have been numerous people, even hardcore RVers, that have been in Iraq and say there are plenty of dinar on the streets. Anyone that tells you that there aren’t is probably just lying, or at least is just repeating guru lies.
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What’s up with Warka?
I’ve yet to see anyone even make the claim that they’ve managed to get a single dollar back out of them, so I’m guessing they’re still jacked up. Will that change for the better soon? Who knows.
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I keep lookin’ for some intel on the smaller denomination dinars and or coins that in my opinion must be implemented before a RV/RI…All I’ve heard was the gold coinage minting for dinar exchange only, my question, have you heard any documentation confirming that smaller dinars have been printed? * See comments at the bottom
You need small denoms for an RD also, so not sure why you think this would be RV related.
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Good Morning Adam,these items that Iraqs parliament are dealing with seem like ticky tacky items that could be dealt with at any time.what do you think is the REAL reason they don’t push the RV button?Thanks Brother
Because they can’t and there’s no reason they could. Their currency is worth right about what it should be, which is painfully obvious once you admit to yourself the fact that they have many many trillions of dinar in circulation.
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Ask any 4 year old the best way to get someone to stop using one thing is to make the other thing more valuable. Iraqi’s will never stop using the dollar as long as it’s more valuable than the dinar
You’re really mixed up. It isn’t VALUE that makes a currency desirable (after all, their 25,000 note is already more valuable than our 20 dollar bill, so why would they want to use a 20 dollar bill?), it’s STABILITY and CONFIDENCE that make a currency desirable. Massive increases in value don’t lend confidence that the commodity or security is going to remain stable. If you had 10 ounces of gold and the price shot up to 1 million an ounce would you hold onto all of it because you’re confident it will retain that value? HELL NO. You’re gonna sell all of it the second you can because you’ll be worried it’s an unsustainable fluke and you’d lose your newfound million bucks if you held onto the gold.
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WHAT DO YOU THINK OF THE DONG PAID 21,800 NOW IT;S 21,114?
I’d say that a massive RV of the dong makes even less sense than the Dinar, but it’s impossible to make less sense than zero, so I’ll just say both make zero sense.
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MUST the budget be passed 45 days before the elections on April 30th? This would mean the budget would be passed by March 15th.
Who cares?
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Good job, FS4!
* One thing I’d like to add to this is that “Adam” told everybody in 2010 that the lower denominations had already been printed, according to his CBI source.
He never said much about this after the Iraqis started talking about printing the new currency with the Kurdish language on it. I think now would be an excellent time to remind everybody that James “Adam Montana” Wolf is a fraud. He claimed that he graduated from Harvard when in fact he didn’t even graduate from high school. He claimed to have made money on the “Kuwaiti RV” when in fact he was 14 years old during Desert Storm.
For those of you who are unfamiliar with the custom, the comments following Adam’s weekly Q & A posts are basically nothing but arse-kissing. So I think we should do that here. I’ll start this one off.
Thanks for sharing your views, FS4. GOOO RD !!!!
Iraq Currency Watch 