41 replies to this topic

[RRSport]

Look sweetie. You are a lopster. I have read your posts. Direct your question to Adam, if you have the balls to do so. I'm not going to waste my time arguing with you.

Peace dude.

Are you serious????

[caz1104]

Dinarck is exactly right. That's what the education process is for - to ensure that the people understand that they're not losing anything. It's just being done to make things simpler. There were no riots when they did this in Turkey, Romania, Russia, Zimbabwe, Brazil, or any other country that redenominated over the past 20 years, so why should there be in Iraq?

If true 2 1/2 years of educating seems like overkill.It seems the only ones they have totally convinced are the LOPsters. And maybe its true,time will tell. Peace

Why is the CBI pushing for this RD? To reduce operating costs.. It costs the same amount to print a one dinar note ( worth.00086) as it does a 25K note.. But it must continually replace those one dinar notes to support street trade The RD will reduce operating costs by a factor of 10 or more...This is a DONE deal for sure...Look for all oposition to subside and more detailed instrctions for the populus IN THE COMMING DAYS!

Thanks for point of fact Shabs

[doctor robbins]

If true 2 1/2 years of educating seems like overkill.It seems the only ones they have totally convinced are the LOPsters. And maybe its true,time will tell. Peace

The project was supposed to have happened in 2010 but first they had the election fiasco and then the CBI started getting resistance from within parliament. Like most everything else in Iraq progress has been slow, admittedly. They have certainly convinced the Iraq people, though. They are waiting for the new currency that will give them a currency near the value of the US dollar.

[caz1104]

The project was supposed to have happened in 2010 but first they had the election fiasco and then the CBI started getting resistance from within parliament. Like most everything else in Iraq progress has been slow, admittedly. They have certainly convinced the Iraq people, though. They are waiting for the new currency that will give them a currency near the value of the US dollar.

Then who are they attempting educate? If they have convinced the Iraqi people,why continue? Not arguing just dont see the logic of article after article stating the same thing day in day out.

Edited by caz1104, 04 August 2012 - 06:20 AM.

[dinaris4me]

Maybe they are trying to educate the go RVers!

[Realdinar]

Then who are they attempting educate? If they have convinced the Iraqi people,why continue? Not arguing just dont see the logic of article after article stating the same thing day in day out.

A stall tactic, maybe? Then sneak in an rv? That way they can do whats ethical and not just wish away the 3 zeros on the iqd.

[magawatt]

"Make me understand" : sophistry at its worst.
Even von Danakin would be embarrassed to use that one.

Edited by magawatt, 04 August 2012 - 08:21 AM.

[jas428]

A stall tactic, maybe? Then sneak in an rv? That way they can do whats ethical and not just wish away the 3 zeros on the iqd.

Its not unethical, its a standard practice. The Iraqis won't be cheated out of anything. They still have the exact same value of money that they had before the exchange, unleS the new IQD revalues a bit. Its an economically standard RD. I'm not sure why anything feels its "unfair" because the only people who feel they've been cheated are the ones who believe in an overnight millionairre scam.
Eight year ago when I bought IQD, there was not talk of the "zeros." Everyday currency investors like myself hoped to gain a penny at best in a revalue. Now with the internet, sites selling IQD for profit, and forums, a farytale has sprung as they make millions by promising that everyone who buys will be millionaires. Think about it, and look back through the ineternet starting from 8 years ago up until now to see how twisted this has become.

[SocalDinar]

As good as any answer i've seen to these questions.



Go Shabs

[Realdinar]

Its not unethical, its a standard practice. The Iraqis won't be cheated out of anything. They still have the exact same value of money that they had before the exchange, unleS the new IQD revalues a bit. Its an economically standard RD. I'm not sure why anything feels its "unfair" because the only people who feel they've been cheated are the ones who believe in an overnight millionairre scam.
Eight year ago when I bought IQD, there was not talk of the "zeros." Everyday currency investors like myself hoped to gain a penny at best in a revalue. Now with the internet, sites selling IQD for profit, and forums, a farytale has sprung as they make millions by promising that everyone who buys will be millionaires. Think about it, and look back through the ineternet starting from 8 years ago up until now to see how twisted this has become.

Key word "unless".
Btw, When I got in this, if I made a penny I was gonna be happy. But now I see the real upside, in terms of iraq wanting to rebuild.

[rockfl9]

If the dinar RDs to 1000:1 ,then RV s to 1:1 with the dollar ,which is a possibility, who do you call? No profitable cash-in as I see it..

[dinarck]

If the dinar RDs to 1000:1 ,then RV s to 1:1 with the dollar ,which is a possibility, who do you call? No profitable cash-in as I see it..

It's also possible that they bring the new currency in at 1 and leave the old at 1166. Even worse for us.

[rockfl9]

Dinarik::: dont think we have that posibility...? is to RV B4 or after the pending RD!....I think after ... That is why I think RD 1/1/13 at 0.86... then appreciate as old dinar are removed until say 1/1/14 call in all old dinar ...1/1/15 RV to $1 ( it will cost less then). Then go world wide (free exchange - maybe not a ful FOREX)

[dinarck]

Dinarik::: dont think we have that posibility...? is to RV B4 or after the pending RD!....I think after ... That is why I think RD 1/1/13 at 0.86... then appreciate as old dinar are removed until say 1/1/14 call in all old dinar ...1/1/15 RV to $1 ( it will cost less then). Then go world wide (free exchange - maybe not a ful FOREX)

Well what I meant is that the CBI could bring in the new currency at whatever they want. Even at 2. All this would mean is it would take 2332 old dinar to exchange for one new dinar. Do I see them doing this? No. But I could see them bringing in the new currency at 1 which means it would take 1166 old dinar to exchange for one new dinar. As a matter of fact I think they have told us this is what they will do but the translations were bad into english so it was hard to pick up on. What it sounded like was they will RV the old currency to 1000 to 1 before the RD but I just dont see any central bank EVER preannouncing any move in their currency. So the only sense I could make of those statements was that they will bring in the new currency at 1 and are working on increasing reserves and improving economic conditions to justify such a move. What this means is that the old dinar remains at 1166 so we would not even benifit slightly from a move to 1000. Now the question remains. If the new currency "RVs" post RD then what does that mean for the old currency that we hold? Both the old and new would be pegged to the USD so would flucuations in the USD affect both the old and the new currencies?

Also if they do this it seems it would cause confusion amongst the population inside of Iraq. That is why I always thought they would RV to 1000 before the RD. Once they announced that they would I was pretty sure that they wouldnt and were actually saying they will bring the new currency in at 1. I doubt there will be as much confusion as I thought seeing how it would basically be just like exchanging dinar for USD now.

All of this is just my opinion and I admitt that there are questions that I still have about the old and new currencies coexsiting for a period of time and how economic conditions effect them either together or seperate. If anyone has insights to this then please share.

[rockfl9]

To RV B4 1/1 would confuse Iraq market ... It would need to be a pip at a time .. Might get to 1100:1 by then... Because Iraq is a cash market ,frequent unprediceted Rvs would cause turmoil.

[dinarck]

To RV B4 1/1 would confuse Iraq market ... It would need to be a pip at a time .. Might get to 1100:1 by then... Because Iraq is a cash market ,frequent unprediceted Rvs would cause turmoil.

I agree that they wouldnt do it all overnight. They could I guess but I doubt that they would. That would be something like a 17% RV overnight which could happen but is pretty huge in economics. Again though I seriously doubt that they will go to 1000 pre RD at all simply because they said that they would. Since they (seemingly) preannounced it, that tells me they were actually talking about the new currency and not the old. There is no way a central bank would tell the world that they are going to RV even by 17%. The big dogs of the world would have a field day and would profit massively.

[rockfl9]

Dinarack::: I missed one point of yours ... CBI said they would release the new dinar at the same value as theRDd old ...So wouldnt come our at 2:1 new ....There would be a panic.

[dinarck]

Dinarack::: I missed one point of yours ... CBI said they would release the new dinar at the same value as theRDd old ...So wouldnt come our at 2:1 new ....There would be a panic.

You are correct. The CBI said the exchange would be 1000 to 1. If they brought in the new currency at 1 and left the old at 1166 then the exchange would not be 1000 to 1. Does this mean they wont go this route? No. They also said the RD would result in the dinar being on par with the dollar. What that means is they can do it one of two ways. They can slowly RV to 1000 pre RD or they can bring the new currency in at 1 and leave the old at 1166. I am still confused at which they will do or which they are saying they will do. One thing I am pretty sure of is that the CBI isnt saying they will RV the old currency to 1000 pre RD. They may very well be but if they are then it would be the most gigantic blunder ever by a central bank in history.

Another theory of mine is that they may have purposely announced this RV to 1000 in an attempt to sell a large amount of dinar before the RD. This would build their reserves but they would still be on the hook for all of the dinar they sold UNLESS they plan on exchanging old to new in country only and only exchanging old for USD in country which would be the biggest con of all time by a central bank. I really dont see that happening but you never know these days.

[RRSport]

Another theory of mine is that they may have purposely announced this RV to 1000 in an attempt to sell a large amount of dinar before the RD. This would build their reserves but they would still be on the hook for all of the dinar they sold UNLESS they plan on exchanging old to new in country only and only exchanging old for USD in country which would be the biggest con of all time by a central bank. I really dont see that happening but you never know these days.

Even though it would squash my punt (note not investment) on the IQD I would actually laugh if they did this.
Oh the theatre among the Go Rvérs when told in country only! Lol

[Polishfloridian]

Good afternoon all,

I am a "newbie" here, but have had my Dinar for about 5 years.... just recently been intrigued by all the chatter as well as news coming out of Iraq. Seems "SOMEONE" is either pulling all the strings to get this done or it has secretly been planned for months. My question/comment is this: (PLEASE do NOT put me in the LOPster pot for this!!!) If they "LOP" off the three zeros from the 25 thou Dinar..... what, pray tell will be the exchange rate? Why can't they, for example give us 1000 of the "new" 25 Dinar in exchange for one "old" 25 thou Dinar? (25,000 = 25,000) WHY do we have to exchange one 25 thou Dinar for one 25 Dinar? Looking foward to any n all replies.


thanks for your time,

Art