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Poll delete three zeros off the exchange rate or the currency

dontlop

By dontlop,
in LOPster tank

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Zeros off the exchange rate or the currency  

32 members have voted

  1. 1. Do you think they will delete three zeros off the exchange rate to the dollar ?

    • Off the exchange rate to the dollar
      22
    • Off the currency
      10

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jeepguy Mentor

jeepguy

Posted
Posted

truthfully --------->  I  am in the  I do not have  a clue  right now ,  I  was thinking at one  time ------>  the  zero`s  off  the  exchange  of the dollar  too  dinar ,,,,   but  we have seen  quite a few  news notes ,  where  dinar  has been stolen  or  forged  or   just  gone ,  <--------  with these  kind of  articles ,  and  they have now brought out  10,ooo  note ,   :shrug:    I am  in  the hopefully arena , that  they will  take it off the exchange  and move it closer too the 2. too 1 .  exchange .... I am in a  ka-nun-drum  over  these one ----------------->  1  2015   for  really  bigger idea of where  and  how    {  I suppose }  ------------------------->  this  just in -------------  time line  right now ,  3.50  per dinar  ----- exchanged at  your local  banks    :soon:

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dontlop Newbie

dontlop

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I was thinking a new note release with denominations up to the 100 dinar note

Similar system as the us currency

The zero deletion has some resistance In Iraq for different reasons

I'm thinking the new exchange rate could be equal to the dollar like they want

It doesn't need to be called a zero deletion at all , just an exchange , old for new , new dinar equals one dollar , exchange rate from old to new yet to be determined

It could be anything so the numbers I throw out are just examples of what could be From old to new

250 to one

250 old dinar to one new one or .0025 exchange rate for the old to new dinar , the exchange of dinar to dinar having nothing to do with the exchange rates to any outside currency's

Or 300 to one

Or 500 to one

Or 75 to one

It depends on how many dollars they feel are circulating inside Iraq at the time combined with goi money and cbi reserves

Legal tender laws could clear the streets of Iraq of dollars for the most part, leaving the dollars that now circulate on the streets sitting in the cbi reserves

I don't believe the dinar actually has to be backed 100% by the reserves

Maybe only 35% would be sufficient

But none of this is talked about or even proposed in any public forum by the goi or the central bank so it's not something that I could post a link for everyone to read

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dontlop Newbie

dontlop

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The thing is we don't know what they are doing there

They could be building up dollars in circulation on the streets of Iraq before making legal tender laws that prevent the dollars use in the market

If they were to build up those dollars in the cbi reserves it would be there for everyone to see on their web site

If they were secretly building up the reserves they would need to do it covertly to keep speculators away

So they may of done it right in the open but in a place impossible to know how much is there

Right on the streets

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ewingm Newbie

ewingm

Posted
Posted

You people make this so complicated due to your absolute hope for a big RV making you rich.  You need to put that baloney behind you.  It ain't happening!  They have 88 TRILLION dinar in M2.  They only had 7 TRILLION dinar in M2 tenyears ago.  They are going to LOP the currency.  It is the only thing that makes sense financially.  The iraqis KNOW you're holding TRILLONS of dinar waiting for some kind of money making revalue.  They KNOW if they went that way, YOU PEOPLE will DRAIN their reserves wanting you dollars.  They are not STUPID.  They will REDENOMINATE by lopping three zeros.  They keep saying they are going to do it.  You people just won't face the TRUTH because you are EMOTIONALLY connected to the dinar community.  Its your money that's on the line, not mine.  But if you hold your dinars into the redenomination process, you're going to get screwed.  Plain and simple.  A BLIND man could see it.

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ewingm Newbie

ewingm

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Posted

So.... I've had three responses to my  dinar redenomination scenario, and not one of you proposed anything of value.  Just typical "cult" answers.  Put downs, cutsey quips and brainless barbs.  That is exactly why you people WILL lose your money.  You cannot or will not face the hard cold facts of how a country makes currency changes.  All you want to hear is GOOORVVVV!!!   I hate to pop your koolaide bubble, but there won't be a big RV because they have 88 TRILLION dinars out there.  Would you RV that amount if you didn't have to?  They don't have to, and they won't.  They will three zero lop your dinars and make you exchange if you can.  I'm betting that won't be an easy task.  Maybe impossible.

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NextYear Newbie

NextYear

Posted
Posted (edited)

  Its your money that's on the line, not mine.

 

Yet it's okay for people to still invest in Wall Street despite massive amounts of people loosing massive amounts during numerous and ongoing crashes that occur and will occur. And those same people keep coming back for more.  Maybe you should start going on investment boards and tell them how much of a scam investing in wall street is.  Heck you might even save a few of them from making the same mistake over and over.

 

Or how about the amount of money one spends/looses over a lifetime playing the government run lottery. One has a better chance of getting stuck by lightning 3 times in ones life.

 

It's all the same premise. To hopefully one day strike it rich and both the private sector and government feed off of that. What makes this any different?

Edited by NextYear
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ewingm Newbie

ewingm

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Posted (edited)

The difference is the dinar was hyped as a sure fire get rich quick speculation to people who did not have the financial background to see the impossibility of success. They were scammed. That's how the US justice dept is defining the crime. the scammers were making fabricated claims not based on any realistic chance for success. When you buy a lotto ticket you are told on the ticket what your odds of winning are...something like20 million to one. When you were sold your dinars, you were under the hype of a millionaire making RV to occur at any second. The reality is you can't sell your ,dinars except back to websites for a commission, the currency hasn't moved one iota from 1166 to 1 in SEVEN years, ISIS a terrorist group now controls almost one third of the country, the Kurds will probably secede from Iraq, taking their oil with them aND the Sunni and shiia hate and distrust each other intensely. Need anymore proof ?

Edited by ewingm
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NextYear Newbie

NextYear

Posted
Posted (edited)

The difference is the dinar was hyped as a sure fire get rich quick speculation to people who did not have the financial background to see the impossibility of success.

 

 

Where have I ever heard that before? Oh yeah the real estate industry before 2008. Remember 2008?  I haven't seen those late night real estate infomericals since then (they were the pumpers of the real estate industry)

 

 

ISIS a terrorist group now controls almost one third of the country, the Kurds will probably secede from Iraq, taking their oil with them aND the Sunni and shiia hate and distrust each other intensely. Need anymore proof ?

 

Mere speculation on how this is going to play out.

 

 

the scammers were making fabricated claims not based on any realistic chance for success.

 

Oh those scammers https://www.youtube.com/watch?v=q4pF3dN533U

 

When will they ever stop

Edited by NextYear
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dontlop Newbie

dontlop

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Looks like 3 to one 18 votes to 6 votes

But we do have to concider most people don't visit the tank looking for reading material

People are mostly looking for positive input because they already know the negative side of the investment

That only takes 10 minutes to explain a lop

So like I said everyone knows that end of it

So why bother listening to the repetitive posts here

This is a Slug fest in the tank , I know everything more than you do type atmosphere

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