redenomination? don't hate, just looking for your thoughts on this article

[wetgravity]

ex.com states Notice: IQD will be redenominated by the end of 2010. More on the Iraqi Dinar

2010-02-11 13:11 (UTC)

BAGHDAD, Feb 11 (Reuters) - Iraq expects to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to facilitate currency transactions, a central bank official said on Thursday.

Emerging from years of war and sanctions, Iraq is trying to revamp its economy and boost oil production with a raft of crude deals that may vault it to one of the world's top oil producers.

'The goal is to improve the payment and receiving system in the country and consequently to reform cash management,' said Mudher Kasim, a senior advisor at the central bank.

Iraqi payment systems rely almost exclusively on cash.

Kasim said that the central bank expected to start rolling out new notes by the end of the year or the beginning of 2011. Iraq has 25 trillion dinars in circulation, officials say.

An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said.

The local unit is managed through foreign exchange auctions, and traded hands at 1,170 per dollar at the last sale.

[macattack]

this is crazy I just posted a thread about this almost the same time. Maybe we will get some good answers.

[stfsprl]

this article has been dissected 50,000 different ways. if you look on here you'll find your answers.

[gr8cooker142]

why post an old article

[wetgravity]

why post an old article

Why comment on an old article? I just found it, not old to me.

[Liljohn]

Not everyone has been on here that long. We don't need to be rude to someone who is new and legitimately asking a question.

[gr8cooker142]

Not everyone has been on here that long. We don't need to be rude to someone who is new and legitimately asking a question.

I was not being rude, but if you are new to this site, read other peoples posts to catch up on what is going on. There are a lot of people that post helpful information daily. Click on to their other posts that they have and read what they have to say. See what is already posted. Don't be so thin skinned.

[mrref]

Look at the date on the article that you submitted, CBI has cleared that article and made several comments about it...........

[k98nights]

The Lopster articles have been gone over and disected a million ways to sunday. There will be no lop. The lop posts are not going to last long as I will be sending them to the trash folder.

Edited March 23, 2010 by k98nights

[wetgravity]

OK, sorry...I'll do all my research before I ask for anyone'ss opinion. I have been watching the forum for almost a month and never saw this article and didn't realize a LOP and a redomination were the same thing. Maybe there are others here with thinner skin than I...I'll go look for a more positive article to post next time.

[wetgravity]

furthermore, I thought this was the rumor forum and there was no bashing or trash talk allowed. If you've read all the srticles about a LOP or redenomination, why would you need to read just another rumor. Maybe those of you that much further into your investing and tired of the rumors should not visit the rumor forum anymore, stick to the facts as you know them while we catch up? Or just answer the question respectfully and leave it at that...I'm just saying.

[CaptainConrad]

LOL...a sensitive chap

[Cherysh]

Well.... I think in the last few weeks, LOP has been going around and had stirred some fears in investors (such as myself). So actually seeing this article is a little more settling for me because I read the paragraph "An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said. ", pay EXTRA attention to THE DINARS VALUE WILL REMAIN UNCHANGED.....well then thats good to know. Confirmations is always good especially to newer people joining this site. Thanks for the post WG. )

[warrengz]

You do know you can search the forums before you post right??? Search for the key words of your article and it will bring up all the older posts about what you are searching for.

[Liljohn]

Maybe those of us who are new to this hoping learn something should just keep reading through thousands of old posts. Ignore whats new on here and ask no questions. So we wont upset anyone by rehashing things they are familiar with even if we aren't.

[captspiffy]

OK, here's my thought........

In the past few days, I have been reading all the news and the forum(s), and the mention of the US of A kind of having a major stake in the RV of the

Dinar has been brought up. SO...... as I was having lunch it occurred to me that the US would want as high of a Re-Val as they could get. Obama is taking

a pounding over the HealthCare issue and I would think that the Re-Val would take a bit of pressure off of him..... The higher the eval the more $$$$ into the US

pocket , the better he would look...... following along????

On CNN just a few minutes ago, they showed the Biden potty mouth comment..... Obama will need to divert as much press away from him as possible

and as soon as possible. The Warden (my wife) seems to think that Obama will pull a rabbit outta his hat to "win" the people over again ! (just in time to

get the Dems re-elected in Nov)

I believe the RV will come very very soon, Obama needs it to be nice and healthy, for his political well bearing.

As always, Now I can say this, tomorrow , Obama's socialism may not allow me to do it !

Good Luck everyone ! I hope your pile of money comes soon !

[wetgravity]

No, that's a good idea and thanks for the advice. I will search for an article before I post it next time, thanks!

[TklMonster]

wetgravity, sometimes it's easier to ask a simple question than to do such extensive research. I've read many of these post and done a lot of research and still have questions that somebody on this site would bash me over if I asked. It's an illness, they can't help themselves. Don't worry bout them, after all, they didn't have to waste their time responding. They just wanna pick at people.

[djcrzyc]

Old article

[tiger7]

people are too funny on these site..lol

[rcjr2161]

Yea Woody those lopsters should go there.

I agree with you Bud

[FDyer]

wetgravity...here's the deal...DO WHATCHA LIKE. Don't worry about these bashers...ignore. You will never please everyone all the time. If people don't like your questions or posts they can just move on! This was at one time a free country...apparently we are seeing less and less of that...in all areas. Don't get it...with this being a free public forum and all. Sounds to me like all those getting their dress blown up are the ones who need to get thicker skin. Have a great day...and I say....post any dang question you want.

[FDyer]

Post it three times in a row, just for fun.

[wess144]

There will be no LOP, to many countries own Dinar!!!

[Joe P]

Alright all of you *%^&$#$ (I really wanted to swear at you). A person comes in with a legitimate question. Then you get censorship from K98nights (you're far too good for that), others bashing too. The headlines read, we will not bash, we will be respectful. If you don't want to read or answer it, move on.

As new investors join OUR FAMILY, be as cordial to them as those before you. What if that was Adam posting under a different name? Do you think he would like to hear comments like above?

I am VIP member and disagree with many posts, agree with many, but won't censor anyone or demand that they surf the archives to know what I/we already know. Finally be a family member and teach or ignore.