52 replies to this topic

[easyrider]

Now here is where we learn what Iraq is really doing. Despite all the articles, misdirection, and confusion with terminology this quote tells us exactly what is happening…This is absolutely the most direct and powerful statement we have heard.
This is not an opinion, but a factual statement…”the present authorities have decided to change the Iraqi currency to a new currency”. Now this also tells us that they are NOT deleting the zeros off the notes. And it tells us that “collecting the notes” is what is happening to reduce the money supply.
Now this quote is simply amazing. “This does not affect the value of the dinar so far but it opens the dinar to the free currency market such as against the dollar, etc.” It is telling us that the value of the old dinar (3 zero notes) is not effected. Clearly, this is what we want. Some may want to interpret this saying “yes the value does not change and the exchange rate also stays the same,” ie (LOP) Well this next quote…puts an end to that theory as well…“If three zeros were lifted from the IQD, this means the IQD becomes stronger 1000 times in terms of value.” This in itself is all we need to be assured of our investment. But the good Dr. [Bakri] gives us the dagger in the LOPster heart with this gem of an example…“For example, a pack of cigarettes that was selling for 1000 dinar would be only 1 dinar. If it was a conversion like that, if the three zeros were lifted from the previous currency, this means the old 1000 dinars will buy 1000 packs of cigarettes instead of 1.”

[Tennesseegirl]

Ooh wow I'm liking this thanks Easy

[duty.rec]

Now here is where we learn what Iraq is really doing. Despite all the articles, misdirection, and confusion with terminology this quote tells us exactly what is happening…This is absolutely the most direct and powerful statement we have heard.
This is not an opinion, but a factual statement…”the present authorities have decided to change the Iraqi currency to a new currency”. Now this also tells us that they are NOT deleting the zeros off the notes. And it tells us that “collecting the notes” is what is happening to reduce the money supply.
Now this quote is simply amazing. “This does not affect the value of the dinar so far but it opens the dinar to the free currency market such as against the dollar, etc.” It is telling us that the value of the old dinar (3 zero notes) is not effected. Clearly, this is what we want. Some may want to interpret this saying “yes the value does not change and the exchange rate also stays the same,” ie (LOP) Well this next quote…puts an end to that theory as well…“If three zeros were lifted from the IQD, this means the IQD becomes stronger 1000 times in terms of value.” This in itself is all we need to be assured of our investment. But the good Dr. [Bakri] gives us the dagger in the LOPster heart with this gem of an example…“For example, a pack of cigarettes that was selling for 1000 dinar would be only 1 dinar. If it was a conversion like that, if the three zeros were lifted from the previous currency, this means the old 1000 dinars will buy 1000 packs of cigarettes instead of 1.”

Wherever you found this gets my vote and yours +1

Go RRRRRRRRRRRRRRRRRRRRRRRRRRRRVVVVVVVVVVVVVVVVVVVVVVVVVV

[gp49]

Thanks easy...kap is the best!

[DWitte]

So Easy, how do you get not deleting the zeros from this? Granted, I don't understand most of this but I see nothing about the zeros in the first statement.

[idplzr]

Thanks Easy. When this is done we gotta get a beer... on me....

[securityguy]

This is not a new statement. It was posted several weeks ago. None the less, I also found it to be THE most defining statement ever. Even I can understand the logic when put into these words.
Now, if we could only actually get them to DO IT!!!

[shabbadude]

Simple, straight forward explanation supported with examples that even an uneducated nomadic goat herder could understand.
So, what does that say about the lopsters who will try to shoot holes in this statement......

[katie45]

I think its from an older Kap chat. Several weeks. School starting in a few weeks. I will need a break from here.

[Texas1]

I think its from an older Kap chat. Several weeks. School starting in a few weeks. I will need a break from here.

Recess?

[R Veyron]

Maybe I missed somethig but where are these quotes coming from ? Which sources ? If it be so then I would agree, these are very positive indicators for there to be a decent profit ahead. Nice.

[doctor robbins]

Here's the most definitive statement on the redenomination.


BAGHDAD — The Iraqi Central Bank is planning to redenominate the national currency in an effort to ease transactions and allow people to carry less paper money, RFE/RL’s Radio Free Iraq (RFI) reports.

Mudhhir Muhammad Salih, a member of a Central Bank advisory panel, told RFI that a plan has been made to remove three zeros from the currency and phase out the current banknotes late this year.

Salih said by the end of 2010 the new banknotes will be fully introduced while the old banknotes will be gradually removed from circulation. He did not specify when the new notes would be issued.

Both will be legal tender in Iraq until the old notes are completely withdrawn.

Iraqi officials have had a long-running plan to redenominate the Iraqi dinar. In 2006, the Finance Ministry recommended to the Central Bank that it carry out such a plan.

Salih pointed out that banks are having a hard time accepting cash savings and deposits, but by dropping the zeros it will make it easier for both the banks to deal with their customers and for the general public to carry money. He said some 80 percent of Iraq’s money supply is cash in circulation.

Salih added that in 1990 the value of banknotes in circulation was about 25 billion Iraqi dinars but is currently some 25 trillion dinars.

Economic analyst Hilal al-Tahhan told RFI that the bank’s move is overdue. He said he expects the currency change to go smoothly because of the decision to allow both the old and new banknotes to coexist, leading to less turbulence in the economy.

The current exchange rate is 1,167 Iraqi dinars to the U.S. dollar.

http://bit.ly/g6vMUYhttp://bit.ly/g6vMUY

[smee2]

Maybe I missed somethig but where are these quotes coming from ? Which sources ? If it be so then I would agree, these are very positive indicators for there to be a decent profit ahead. Nice.

I too would like to know where these quotes are coming from. It is all well and good to take a few "statements" that sound good for us and say they are genuine quotes. But quoted from what? from where? from whom?

Seriously, Easy, would you please expand on where the quotes originated?

thanks

smee2

[RodandStaff]

I like Kap's and thanks for the post easy!!!
It looks like these guys won't be happy though, and yes, they is still on the menu!!!

[Inbedded HorseHead]

I'd take a 1000 times my investment every day of the week and twice on Sunday...

[keepmwlknfny]

"puts an end to the LOP theory.... "



Of course it does Kap.....

[Carrello]

I too would like to know where these quotes are coming from. It is all well and good to take a few "statements" that sound good for us and say they are genuine quotes. But quoted from what? from where? from whom?

Seriously, Easy, would you please expand on where the quotes originated?

thanks

smee2

Smee, let me see if I can help. Dr. Bakri has one great paper on the 000s, etc., but I am having a problem translating it from Arabic. Here is one article giving Dr.Bakri's credentials some validity, and I will post more so you have actual sources, etc. I hope this helps.

Carrello



A lecture on (lifting the zeros of the Iraqi currency) in the Cultural House Babylonian


Author: Department of Cultural Centers

06/03/2012 9:29


Guest House Cultural Babylonian of the Department of Cultural Relations in the Ministry of Culture, Dr. Jawad al-Bakri to talk about in place (raise zeros from the Iraqi currency), where, Dr. Bakri said the State to ensure the stability of the security situation and to reassure the citizens of the process of restructuring and the fight against financial corruption in the state and political forces agreement in the country on the move before you begin the process of raising three zeros from the currency is also called Dr. Bakri professor at the School of Management and Economics at the University of Babylon to the need to take the state to create a suitable ground before starting the process of restructuring of the Iraqi currency by deleting three zeros from them.

Bakri said that several aspects of the process of structuring a positive benefit to the Iraqi economy, including the dollarization of the economy and stop the circulation of funds and reduce the stability of the Iraqi dinar exchange rate and lower rates of inflation in the medium term and reduce the cost of economic transactions.

Bakri had been reviewed at the beginning of the lecture date of the old money in Iraq and the historical development of the Iraqi currency.

During the evening the distribution of a number of economic and political books issued by Dr. Bakri Add to listen to questions and inquiries relating to the mechanics of those present the implementation of the restructuring and how to deal with the money saved the state citizens have answered all the questions on the records and inquiries.

At the end of the evening and distributed gifts and certificates from the Guest House of Culture.

http://www.crdiq.org/ArticleShow.aspx?ID=674

[keepmwlknfny]

"It is telling us that the value of the old dinar (3 zero notes) is not effected. Clearly, this is what we want"


Huh?? If this is the RV we have been waiting for, then the value of the old dinar notes not being affected is NOT what we want genius.....

We WANT the value of the old dinar notes to be affected......I dont know about you or anyone else here but if the value is not effected, then we dont make any money!!

[cooked]

"It is telling us that the value of the old dinar (3 zero notes) is not effected. Clearly, this is what we want"


Huh?? If this is the RV we have been waiting for, then the value of the old dinar notes not being affected is NOT what we want genius.....

We WANT the value of the old dinar notes to be affected......I dont know about you or anyone else here but if the value is not effected, then we dont make any money!!

Actually, I think even this statement is open to interpretation as to how/if the old dinar is/isn't affected. Still too vague to draw any concrete conclusion.

[keepmwlknfny]

Actually, I think even this statement is open to interpretation as to how/if the old dinar is/isn't affected. Still too vague to draw any concrete conclusion.

What do you mean?

If the value of the old notes is not affected/changed through the process of "deleting the zeros" which is supposedly the RV, then there is no revaluation.....

That describes a revenue neutral event.....how else can that be interpreted??