Recent Rumor - Iraqi Dinar & Vietnam Dong Dealers MUST Cease Selling Iraqi Dinar & Vietnam Dong By June 27, 2013

If you're a reader of this blog you know we think all rumors that come around are essentially nonsense. It's  my personal belief that a revalue of the Iraqi Dinar or Vietnam Dong is not possible, however assuming hypothetically it is possible I don't believe anyone would know about it prior to it happening, though let me make myself clear I don't believe it can happen.
Will Dinar Dealers Stop Selling Dong & Dinar June 27, 2013?


Anyhow, the most recent rumor I've heard I heard through one of the Dinar forums. Someone claimed that Dinar Recaps has reported in addition to supposedly hearing this on a confrence call run by the Dinar Dealer out of Puerto Rico. The rumor is that all currency dealers will have to cease selling the Iraqi Dinar and Vietnam Dong by June 27, 2013. I've also heard the date of June 25, 2013 as well however that date has already passed.

Supposedly as this rumor goes Dinar dealer will be required by law to stop selling Dinar and Dong in order for the revalue to happen and for the new notes to be issued.

First off this is patently false since A. a revalue can't happen; and B. even if one could happen nobody would know about it until after it happenned.  That said there's a number of reasons why I don't believe this is true.

People love to throw around terms and say things like they are in the know. They say a law is passed that is going to make dealers cease selling Dinar yet they don't say who is passing this law or what the law is, nor do they provide any factual material or links from a credible source or government agency saying this is the case. If a law were passed who would pass it Iraq or the USA? Certainly not the USA since the USA has nothing to do with the Central Bank of Iraq and even if Iraq passed a law that would not affect US Dealers who already have DInar in stock. Sure hypothetically they could stop allowing Dinar out of Iraq but dealers would still be free to sell off what current stock they have.

Another thing to think about is this. If this really is a 100% sure thing and we know in just a matter of days the Dinar is going to go from being worth say $800 to $1000 per million why would dealers sell it at this price when they could wait a few days and be sitting on a stock worth millions if not tens or even hundreds of millions of dollars?

One other thing that makes me think this is silly is the fact that people act as if the Dinar and Dong are tied in some way. The economies of Vietnam and Iraq are in no way tied together or linked together nor are their currencies. The Vietnam Dong is a pegged or traded currency and the Dinar is not. These currencies are in no way linked and the only similarity is that people who are "invested" in or buy one tend to buy the other. Aside from that they are in no way tied together so it wouldn't make sense that they would "revalue" at the same time...if a revalue were even possible.

None of this seems credible, logical, or possible. To make an analogy I would liken this to Ford or Chevy comming out and saying due to the new carbon laws put forth by Barrack Obama we will not be able to sell cars after July 1, 2013 so you better run out and buy a car before you can never buy a car again. It would be like Ford or Chevy saying that to drum up business.

Obviously everyone probably thinks that is a ridiculous analogy but it's just as ridiculous to buy into claims that dealers will not be able to sell after June 27, 2013. Only time will tell but tomorrow on June 27, 2013 we will see if the Dinar is still being sold by dealers and if a revalue has happenned.