RAISE THE ZEROS

[zigmeister]

OMG! I am going to have to change my Spanx.

Thank you.

Well what the CBI is SAYING and what they actually do could be two different things......

I have no doubt in my mind that the CBI is telling the world they are about to RD(lop).....the actions involved and the countries referenced describe a lop to a T....

Doesnt mean they will or that they have to, but thats what they have been announcing for sometime.....

I think that they have other options, and moving the exchange rate to 1000 to 1 is a start.....the only way we will make money off this is if they gradually move the exchange rate up over time and find a way to really pull in dinar from circulation. They did announce they were gonna start selling T-Bonds or something of the sort this summer which would be the first time in 6 or 7 years i think it is.....thats one way to reduce the amount in circulation but of course they will need to sell HUGE amounts of it....

I dont have all the answers but I know there are ways to actually reduce the money supply without lopping and thats what we need to hope for.....

Im of course holding out hoping they find this other road to travel that will be more profitable to us....

There is also another dynamic which could play against an RD. Elections are coming up. Some countries are reluctant to RD their currency too close to an election. Not all. However I do think it might factor in.

[rockfl9]

Noone commented on my post about the October bank holiday.. It will be a 5 day period when the Banks, stock market and most businesses will be closed. An ideal time to make a major adjustment in the dinar.

True they wont have a lot of the new currency , if any at all, but I dont think they expected the swap to be a quick and easy thing ..

Mark your calendars for Oct 19-23...

[zigmeister]

Noone commented on my post about the October bank holiday.. It will be a 5 day period when the Banks, stock market and most businesses will be closed. An ideal time to make a major adjustment in the dinar.

True they wont have a lot of the new currency , if any at all, but I dont think they expected the swap to be a quick and easy thing ..

Mark your calendars for Oct 19-23...

Very possible. But I would prefer before the October date.

[rockfl9]

Zig,

I know, Iknow , tomorrow would be best . HaHa

Seroiusly, Im trying to find out if there is an announced reason for the bank holiday..

To do a rate change of any kind they need commerce to stand still for a length of time that wont be a hardship to Iraqis.

.

[magawatt]

If they drop the zeros off the currency, it wont matter if the currency is outside the borders or not, its all treated the same.

Its not what we want to happen......

Sorry if I ws unclear.The thought was that the term "lifting the zeros" was an easy means to communicate to the Iraqi populace that the price of goods would have he last three digits removed,so a 2000 dinar mocha latte would only cost them 2 dinar. It is the exchange rate that changes, but put in the context of the local market.

[KamelKeeper]

Noone commented on my post about the October bank holiday.. It will be a 5 day period when the Banks, stock market and most businesses will be closed. An ideal time to make a major adjustment in the dinar.

True they wont have a lot of the new currency , if any at all, but I dont think they expected the swap to be a quick and easy thing ..

Mark your calendars for Oct 19-23...

CBI also has a three-day holiday August 21, Id Al-Fitr.

Happy Zig?

Edited June 15, 2012 by KamelKeeper

[Wassaap]

Well...you know, October isn't that far away.

They are getting a little tiresome in telling us that this zero thing is going to happen at the beginning of the year. Maybe I'm wrong, but it is beginning to sound like they might actually do it earlier. Subtlety is not an Iraqi trait, but false information very much is. In the past few years of keeping up with this roller coaster, I have not seen such tripe as they have been spilling lately.

[Realdinar]

You know you are just plain wrong!! The CBI is letting everyone around the world know that they are gonna RV on a massive scale so that we can all buy up as much dinar as possible!!!

And? Dont they know how much is in print? How much is in circulation? They are keeping perfect books, right?

[uncirculd]

Yeah it is good to see you. You were gone so long I thought you had Carrello's baby.

[wood1521]

SMOKE N MIRRORS. It will happen before 2013. And everybody will be very pleased. Been in this for 9 years now. we are close. can't wait to tell my boss where to put it.

[zigmeister]

CBI also has a three-day holiday August 21, Id Al-Fitr.

Happy Zig?

Much happier. Look they can do this anytime really. An RV is pretty simple for the most part. IMO only of course.

[keepmwlknfny]

And? Dont they know how much is in print? How much is in circulation? They are keeping perfect books, right?

They arent 100% perfect but if you check the audited financials they explain what information was missing and none of it had anything to do with the amount of currency outside of banks and currency issued....

[doctor robbins]

Nobody is using the current denominations of 50, 250, or 500 so they certainly wouldn't need new currency until they remove the zeros from the exchange rate. Then they can start replacing the IQD with the new currency. That's the case with every redenomination. Remove the zeros from the exchange rate and introduce the replacement currency.

[rico1]

Dropping the 000's

I have been giving the dropping of the zeroes some thought.. and wondering how it will play out.

Let’s say you have 1M before dropping the zeroes and the RVin $3

Then 1M Times $3 = $3M

Now let’s look at dropping the zeroes

1M drop Zeroes becomes 1K times $3 equals $3,000.00

Result – no instant millionaire but a triple on theinvestment.

Would be interested inothers thoughts on this.

As much as I would like to be a instant millionaire and get out of the sand box 3x investment is not bad.

[MovieMaker]

CALL ME WHEN ITS OVER......IM TOO OLD TO THINK...IM TO TIRED TO DECIPHER...IM TO BUSY TO READ...AND IM TOO FREAKIN FAR AWAY TO SEE ANYTHING ANYMORE...........................

What's your address, where do you live? Where do you keep your dinar? hahaha Just kidding.

[rico1]

If 1 divided by .00086 equals approximately 1166 dinars,

and if you take three zeroes from the .00086 to get .86,

then you would STILL have to divide the .86 into the dollar, to get:

$1 divided by .86 = 1.16

correct? Maybe I'm not getting it, but I never understood not having to still do the math if you took the 3 zeroes off in this way.

No, you have done the math correctly after they remove the zero's instead of being .00086 dollars per dinar it will be .86 dollars to the dinar. And not to say a dirty word here but that sounds like a L*P to me but I hope not.

[alan_coaks_3]

the 3 zeros will come off the currency

[imgesing]

it is obvious to me that they are not talking "exchange rate"...They mean a 1,000 dinar note becomes 1dinar and will be worth $0.86....To do this all they need is to declare a bank hoilday in Iraq....the banks will close on friday ,stay closed till Tuesday when the the new rate is in effect...all accounts will be adjusted for the new dinar ... Mortgages, loans , rent ,food will be adjusted.. a simple divide by 1000... There may be a problem making change of less 1/10 dinar for a while as those small denoms will be in short supply There would be utter confusion if they tried an RV at that time...

Now an interesting fact...Oct.21 is a national holiday (banks are closed) AND Oct 22 is a PLANNED bank holiday.... WHY?

Hence the announcement of electronic banking. This will disolve any issues with exchange.

IMHO...

Peace

[rockfl9]

I got the month wrong.. The bank holiday is AUGUST 21. So banks will be closed from the 18th to 21st...The end of Ramadan. I checked with several Iraqi calendars this Bank Holiday only shows up on ONE. So looks like a recent addition!

[Realdinar]

I got the month wrong.. The bank holiday is AUGUST 21. So banks will be closed from the 18th to 21st...The end of Ramadan. I checked with several Iraqi calendars this Bank Holiday only shows up on ONE. So looks like a recent addition!

Good deal, go rv!

[TQueezy]

No, you have done the math correctly after they remove the zero's instead of being .00086 dollars per dinar it will be .86 dollars to the dinar. And not to say a dirty word here but that sounds like a L*P to me but I hope not.

1 dinar is 0.00086 us dollars. 1166iqd : 1usd

Minus three zeros, which is divide by 1000, you get

1.16 dinar per dollar.

[fnbplanet]

1 dinar is 0.00086 us dollars. 1166iqd : 1usd

Minus three zeros, which is divide by 1000, you get

1.16 dinar per dollar.

THANK YOU!

[rico1]

rico1, on 15 June 2012 - 10:09 PM, said:

No, you have done the math correctly after they remove the zero's instead of being .00086 dollars per dinar it will be .86 dollars to the dinar. And not to say a dirty word here but that sounds like a L*P to me but I hope not.

1 dinar is 0.00086 us dollars. 1166iqd : 1usd

Minus three zeros, which is divide by 1000, you get

1.16 dinar per dollar.

Are we not saying the same thing? my example is 1 Dinar = .86 dollars your example 1 Dollar is 1.16 Dinar.

[Ironwolf1974]

I keep trying to tell my mom it could still go either way.

I really hope it RV's though, my mother would be pretty crushed if it lopped.