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Inrteresting Article from Iraqi Business News

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Post by billcon Mon Feb 20, 2012 7:38 pm

Interesting Article on Todays Iraqi News

Posted on 20 February 2012. Tags: dinar, iraqi dinar, re-denomination, re-valuation, Redenomination, revaluation, video



According to Kansas-based NBC affiliate KSN, many servicemen and contractors have been persuaded to buy Iraqi dinars as an investment during their tours of duty in Iraq.



Video: Dealing in Dinar | Iraq Business News

http://www.iraq-businessnews.com/2012

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Post by rick152 Mon Feb 20, 2012 7:47 pm

Although this IS dated for today...Was this not aired (originally) at least 2 weeks ago? Old news and all BS IMO ...rick152

BTW to leave this up much longer is to only fuel a definate poop storm that will come ...rick152

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Post by 1alaskan Mon Feb 20, 2012 7:58 pm

I think Rick is correct, I think it was at least two weeks ago, maybe AJ posted something about it at the time.

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Post by zerhourwriter Mon Feb 20, 2012 11:00 pm

OHHHH I love this. Absolutely love seeing mainstream media that is purposefully misleading. I say PURPOSEFULLY misleading because a news team could have easily gotten FACTS instead of hearsay, if they wanted to.

Don Grant (a certified financial planner working for an un-named company) starts out with inaccuracies.

He starts by saying that Saddam Hussein set the price for the IQD. Well sorry Don that is not correct. The CBI under the watchful eye of the IMF has set AND maintained the rate for the IQD. Iraq is under CHVII UN Security Council. Monetary stability was a condition for there release.

"Iraq has maintained macroeconomic stability under difficult external and internal circumstances. Inflation has remained in the low single digits and the exchange rate has remained stable."

http://www.imf.org/external/np/country/notes/iraq.htm

That is the IMF's words, not mine.

Then Don moves on to say, "I don't know of a place in America that I can go trade dinars, other than someplace illegal". Well Don... how about your bank. Chase, BOA... I got some of my dinars from M&I awhile back. Don, did you even try to find a place in America that you can trade dinars?

But Don I do agree with you on one thing... People watch out from WHERE you get any currency, especially if it comes from someone online. You don't know who's on the other end of that computer.

The anchor woman also said that the Iraqi government would not want to increase the IQD value because Iraq is in debt. Well yes they are, but not nearly as much debt as almost any other country in the world. Thanks to the Paris Club's forgiving nature.

Also she saw fit to pass on to the public that many people believe that Iraq is far more likely to just scrap the dinar that we have and come out with an entirely new currency. Leaving our IQD worthless.

This I find laughable because that would collapse any society. To remove a communities currency completely and not allow the people to trade it back in would cause a revolt.

If they were to do this, then who gets how much of the new money? Do the Iraqis just all start out with the same amount, like monopoly? What if an Iraqi has billions of dinar? Would his money be worthless and he just receive the same amount as the unemployed street beggar? This is preposterous! An exchange must be allowed! The old for the new.

However, fortunate for us the CBI is in control of the monetary policy of Iraq and not the GOI. And they have made it clear in recent articles that an exchange is exactly what they are planning!

http://www.aknews.com/ar/aknews/2/290751/

So don't take my word on this, nor the word of a media campaign obviously meant to confuse and mislead. A real journalist that cared about truth could have found this info. It is public. A real financial advisor that cares about the truth could have found this info. Again, it is public. So what are you waiting for, you're already on the internet. Find some more truth so that reports like these will only weed out the uninformed!

Happy hunting!

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Post by SpaceCowboy Tue Feb 21, 2012 1:32 am

Absolute Jackelopes. They have made snide comments about the Dinar since their "story" ran too. Are they lazy? Poor readers? Do they think it is war money or blood money? Do they tie their own shoes? I don't know. I do know this... a $1,000 investment in any of the 137 BANKS that failed in 2010 alone would have generated a whopping.... ZERO RETURN on you investment! And that was what you got for investing in what is supposed to be one of the safest (supposedly) investment there is! Heaven forbid if you actually invested in businesses... say GM for example!

Morons of the world unite... what kind of clown college news anchor tells an entire state that holding foreign currency is a scam? When I don't want it anymore, I sell it back to the trader that sold it to me in the first place. Yep, I will lose a little... but not everything!

And one last vein popping goodie... they were clearly giving investment advice and clearly called it a scam. If anyone else did that they would be held libelous and slanderous. These two "buddies of Beavis" will get away with it because they are "journalist"! LOLOLOLOL

Is there a silver lining? Yep. I have two more people on my list of perfect geniuses to visit post RV. Nothing says HAHAHA like an overweight, middle-aged, man doing donuts in front of your house in his new sports car dressed in nothing but his new gold plated underwear! So there!

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Post by 1alaskan Tue Feb 21, 2012 3:31 am

Is this one of the news peices that show the Saddam money? If so, takes about 30 seconds to check that out as false.

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Being defeated is often a temporary condition. Giving up is what makes it permanent.
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Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

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Post by zerhourwriter Tue Feb 21, 2012 1:35 pm

no it shows the current IQD

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Post by 1alaskan Tue Feb 21, 2012 9:27 pm

I often wonder how many of the news folks buy IQD after doing/seeing a story on it? Just in case.

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

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