11 replies to this topic

[Powerofprayer]

Hey all I could use your help in determining what Mohammed Saleh stated in this article especially in the last paragraph.

It states that the deletion of the three zeroes will be more positive than negative for the Iraqi economy and banking system. In my limited understanding of this RV, to me a LOP would have possibly more negative implications vs. a RV. In the last paragraph Saleh states that the transition from larger to smaller denominations will have the same value i.e 1000 IQD = 1IQD. So if u have a million dinar and they LOP or re-denominate you then have roughly 1000. Now, I believe a revalue can and will occur to where your 1000 could increase to the highest rate in the middle east to 3.62 or above thus, increase of 3X. I am not a LOPster but just trying to understand what may occur. Either way we benefit and I understand that this is a complex situation with a million moving parts.

"""He added: “The project to delete two zeros from the currency project successful and to delete three zeros from the currency project is very successful, as there are countries that omitted 6 zeros from its currency because of inflation and economic heritage which has been suffering from it and the experiment succeeded, “noting:” The process of deletion of zeros experiment did not pass out of Iraq, we find that some of them in fear while the dimensions of the project has more positive than negative. “

He continued: “The full and comprehensive study of the project was completed last fall, has been filed to the Economic Committee in the Council of Ministers, scheduled for 1/1/2013 It is the time to directly delete the zeros. ” And Said: “This project represents the process of reforming the system of monetary management and the transition from large numbers to smaller numbers with the same value of the currency without affecting the trading currency, because the switch would be suitable for people getting used to the new currency trading.”""

[Acepup]

Link Please
The Dude abides...

[Maggie123]

Link or no link what your post appears to be talking about is a lop. IMHO

Does not mean that is what they will actually do.

If that has always been their intention why wouldn't they have done it along time ago? just sayin.

And Said: “This project represents the process of reforming the system of monetary management and the transition from large numbers to smaller numbers with the same value of the currency without affecting the trading currency, because the switch would be suitable for people getting used to the new currency trading.”

That is the part I am not sure about? We get the new rate? Or same rate?

That is the "million dollar question" !!!

[powerpager]

NO, No Lop !!!

[jackster]

Hey all I could use your help in determining what Mohammed Saleh stated in this article especially in the last paragraph.

It states that the deletion of the three zeroes will be more positive than negative for the Iraqi economy and banking system. In my limited understanding of this RV, to me a LOP would have possibly more negative implications vs. a RV. In the last paragraph Saleh states that the transition from larger to smaller denominations will have the same value i.e 1000 IQD = 1IQD. So if u have a million dinar and they LOP or re-denominate you then have roughly 1000. Now, I believe a revalue can and will occur to where your 1000 could increase to the highest rate in the middle east to 3.62 or above thus, increase of 3X. I am not a LOPster but just trying to understand what may occur. Either way we benefit and I understand that this is a complex situation with a million moving parts.

"""He added: “The project to delete two zeros from the currency project successful and to delete three zeros from the currency project is very successful, as there are countries that omitted 6 zeros from its currency because of inflation and economic heritage which has been suffering from it and the experiment succeeded, “noting:” The process of deletion of zeros experiment did not pass out of Iraq, we find that some of them in fear while the dimensions of the project has more positive than negative. “

He continued: “The full and comprehensive study of the project was completed last fall, has been filed to the Economic Committee in the Council of Ministers, scheduled for 1/1/2013 It is the time to directly delete the zeros. ” And Said: “This project represents the process of reforming the system of monetary management and the transition from large numbers to smaller numbers with the same value of the currency without affecting the trading currency, because the switch would be suitable for people getting used to the new currency trading.”""

A question for you would be how much news from the Iraqi government and banking system talks about removing 3 zeros from their currency (i.e. a LOP)? How much news from the Iraqi government and banking system talks about increasing the value of the IQD 1-to-1 to the US Dollar without removing 3 zeros?

The only place that anyone hears that a Super RV will help the Iraqi economy and its people is from dinar pumpers.

The claim that Kuwait had an RV has been debunked recently by a group on a conf call. The Kuwaiti RV was a supporting tenet for the IQD RV.

And like others have said in this forum, no currency has increased more than 30% in a short period of time.

Mohammed Saleh said that removing 2 zeros would be successful. Removing 3 zeros would be "very" successful. Perhaps they should remove 4 zeros.

[umbertino]

NO, No Lop !!!

Are you completely sure?
I'd sure love it (no lop and a straight RV) but I have serious doubts on the fact they won't (lop)

[jeepguy]

sounds like he is saying : the small notes and large notes will have the same worth ,,, if you have a ten dollar bill in your pocket , it is the same as ten one dollars or 2 fives ,,, every one take the process a little different in transaltion {thats my thinking and i`m staying with it }

[Maggie123]

That is my thinking too JeepGuy! Hope we are right!

[doctor robbins]

If that has always been their intention why wouldn't they have done it along time ago? just sayin.

That's a good question. I believe the reason they didn't RV prior to 2009 is they were still trying to get inflation under control. In order to do that they made a series of rate adjustments to slow down the economy. The reason they haven't RV'd since is probably because speculators saw the value of the dinar increasing and started spending billions on the dinar. Many Iraqis don't want to get off that gravy train so they're resisting the CBI's lop proposal.

[rockfl9]

Maggie123; Old 25,000 note is same value as new 25 note.... No difference! $0.86! As I see it

[Rayzur]

sounds like he is saying : the small notes and large notes will have the same worth ,,, if you have a ten dollar bill in your pocket , it is the same as ten one dollars or 2 fives ,,, every one take the process a little different in transaltion {thats my thinking and i`m staying with it }

I hope you're right jeepguy... I really do..... And I notice he said value which indicates economically, that the 'value' (between a 1000 note and a 1 note) will remain the same in that both will buy the same loaf of bread...
The other aspect that points me in that direction is your quoted sentence saying:
The process of deletion of zeros experiment did not pass out of Iraq, we find that some of them in fear while the dimensions of the project has more positive than negative. “

Which to me would suggest that the value they speak of, is within Iraq ( a 1000 will buy the same as a 1 note) and perhaps not necessarily in the currency outside Iraq. In my world, that 1000 note would not keep the same 'value' as a 1 note, as my expectation is the exchange will be for a raised exchange value, that recognizes the face value of my 1000 note.

It seems they are telling the Iraqi people to chill in that their 1 note will buy what their 10K note did, and while the notes are existing side by side, they will both buy the same thing.

What I'm not clear about is how this will effect me, who had the same rights as an Iraqi citizen to invest in their country (including currecny), but am not spending/trading directly within Iraq, so am not concerned about maintaining the value of my holdings. How does the concept of same value apply to me? Will they recognize the face value of my note outside the country in an exchange process? Or will they insist I exchange my old notes for new notes, in the belief that they have not removed any value in my holdings (relative to the Iraqi economy). And while the value may remain the same relative to their economy, this latter action might maintain the value, but would remove the opportunity for profit.

Of course if there is a hybrid, .......lop and then exchange at 3:1, I have then also profited in tripling my holdings, but I've certainly not profited at nearly that which I expected relative to the guru banter of kazillions....

This of course doesn't diminish my hopes for a limited time/window exchange recognizing the face value of the notes ya'll hold, and it appears we'll all find out together as this continues to unfold....

Here's to intending for the best possible ....for us all ...

[Maggie123]

Thank You Doc and all who responded! Rayzur yours is the biggest Q I have.

Again Thank You All. Hugs, Maggie