Redenomination and then Reinstatement?

[Floridian]

This is unbelievable!  Now these idiots are talking about a redenomination and then a reinstatement.  This means we get 3x our money.  That's it!

I will have a fit if this happens.

 

8-19-2017  Newshound Guru Walkingstick  ...a redenomination is employed by various reasons...a redenom is employed in a number of manners...strain on fin market. That is why they are doing an RV. They are laying down the foundation for their local currency. These monetary steps have been employed the psychological effect on the gen’l population to permit the intro of lower denom notes.  Which Frank [Guru Frank26] thinks may happen on the 21st thru the ATM’s...

 

 

8-19-2017   Intel Guru Frank26   [reference Guru Walkingstick post 8-18-2017 below]   I will help you a little bit more ...This is what he said. For those of you who are interested he referred to a redenomination (...that’s what they are going through right now). And it follows by a reinstatement of their currency. You see a long time ago when the Iraqi dinar was taken off the board the rate of $3.00 what ever it was, was frozen.  This was different from Kuwait.  They are going to RI (reinstatement) after they finish with the RD (redenomination) . And this is all a part of their MR (monetary reform).  They are going to reinstate which is a part of the redenomination and this is all a part of the revalu-ization of their currency.  I want to tell you that a redenomination is employed. Do you understand that word “employed” for various reasons...WS is trying to tell you why  they are going through this redenomination of their currency right now.

Edited August 20, 2017 by Floridian

[King Bean]

No worries there, Floridian. Frank, Delta and crew make up their news as they go along. They've thrown out so many "dates" over the years you'd think they were eHarmony.

[Gypsygirl11]

Hasn't happened yet Floridian.  Talk is cheap.

[Floridian]

Thanks, guys.  It just makes me so mad to think something like this could happen after we've waited so long.  

Sitting at this computer, keeping up with Iraq, would have been a colossal waste of 7 years, and twice that for others.

[navira45]

Floridian, this is taking place. Something tells me this is true. Someone from the past who handled this process...explained that the process semed to be redomination but it is not really. The notes you hold has value..wait for it. Pray that iam right.later

[miquel]

1 hour ago, King Bean said:

No worries there, Floridian. Frank, Delta and crew make up their news as they go along. They've thrown out so many "dates" over the years you'd think they were eHarmony.

Talk about "blind dates."

I think if you consider Frank and crew as pumpers who exist to keep dinar flowing in either direction, it makes sense. They want to sell dinar and they want dinar to be sold back to skim $ on either end and keep the game going. We should trust in none of them and just wait it out as we finish our Masters or PhD's in all things Iraqi. Our patience will be rewarded. 

[davis411]

I don't want to see 3 x

but if that's all god wants us to gain

thats it

profit regardless

not retirement 

[Floridian]

7 minutes ago, davis411 said:

I don't want to see 3 x

but if that's all god wants us to gain

thats it

profit regardless

not retirement 

 

I wish I could see it as you do, Davis.  I see it as a waste of 7 years, sitting in front of a computer, not wanting to miss a thing.  There are plenty of places we could have made 3x our money, over so many years, without following it every minute.  Even the stock market has crossed 20,000 in the past few years.  I wouldn't have been sitting at the computer following the stock market night and day.  

 

I hope Frank and company are wrong.  If they are right (and Navira seems to think so) I'm going to be mighty depressed.  

[navira45]

Floridian...let me just say..a 25000 dinars is a 25000 dinars...we dont know what value or rate they will give us yet. Wait for it. Be happy now...because this is happening. Pray that iam right. Later

[Gunnytex]

Could have done that years ago without worrying about Note Count .....

Dont worry...  No LOP. No 3X RD.

We get paid......one day. Lol

  

[NEPatriotsFan1]

It does not make sense after all these years to redenominate! They have so much rebuilding to do... if they were going to just redenominate, they wouldn't need A million studies on the effects of redenomination... they could've done that years ago! This is something never seen before, I believe..... think if you were a multi millionaire in dinar during the Saddam era, and your dinars were devalued from $3.21 to 4000 IQD/USD. Would you celebrate a redenomination and only 3 times your face value, whenyou lost so much purchasing power? I can't see the people setttling for that! Not only that but their national pride is on the line with a ton of resources to back it up

[Floridian]

37 minutes ago, NEPatriotsFan1 said:

It does not make sense after all these years to redenominate! They have so much rebuilding to do... if they were going to just redenominate, they wouldn't need A million studies on the effects of redenomination... they could've done that years ago! This is something never seen before, I believe..... think if you were a multi millionaire in dinar during the Saddam era, and your dinars were devalued from $3.21 to 4000 IQD/USD. Would you celebrate a redenomination and only 3 times your face value, whenyou lost so much purchasing power? I can't see the people setttling for that! Not only that but their national pride is on the line with a ton of resources to back it up

 

You know what else I don't like about this?  Remember they said the 25 dinar and the 25,000 dinar will exist "side by side" for 2 years (and 10 years at the CBI)?  That always worried me that they were going to be worth the same amount.  

 

And now, after reading what Frank and Walking Stick have to say, the "exist side by side" thing is upsetting.  It only makes sense if there is a redenomination.  So redenomination AND reinstatement ($3 or more) goes along with the exist side by side thing.

 

I know I'm the type of person that worries about everything.  I hate being this way.  I wish I could just take a day at a time, like normal people.  

[NEPatriotsFan1]

I used to worry, but it really doesn't matter at this point... worrying isn't gonna change what happens. I was just giving you my reasoning for investing(speculating). At the end of the day we are all speculating.... so any gain is a win but obviously we are hoping for a managed float or reinstatement  Hang in there, Floridian

[Floridian]

18 minutes ago, NEPatriotsFan1 said:

I used to worry, but it really doesn't matter at this point... worrying isn't gonna change what happens. I was just giving you my reasoning for investing(speculating). At the end of the day we are all speculating.... so any gain is a win but obviously we are hoping for a managed float or reinstatement  Hang in there, Floridian

 

Thanks.

 

[Luigi1]

1 hour ago, Floridian said:

 

You know what else I don't like about this?  Remember they said the 25 dinar and the 25,000 dinar will exist "side by side" for 2 years (and 10 years at the CBI)?  That always worried me that they were going to be worth the same amount.  

 

And now, after reading what Frank and Walking Stick have to say, the "exist side by side" thing is upsetting.  It only makes sense if there is a redenomination.  So redenomination AND reinstatement ($3 or more) goes along with the exist side by side thing.

 

I know I'm the type of person that worries about everything.  I hate being this way.  I wish I could just take a day at a time, like normal people.  

 

 

Exist side by side is for inside Iraq. Iraqis will not see the actual RV. What they do get is increased purchasing power, Qi cards & profit sharing from the oil revenues.

Outside of Iraq there will be an RV. We are the future investors in Iraq. We will reap the rewards with a full blown RV.

[Floridian]

4 minutes ago, Luigi1 said:

 

 

Exist side by side is for inside Iraq. Iraqis will not see the actual RV. What they do get is increased purchasing power, Qi cards & profit sharing from the oil revenues.

Outside of Iraq there will be an RV. We are the future investors in Iraq. We will reap the rewards with a full blown RV.

 

Thanks, Luigi, but I think the dinar is going to be treated the same way inside and outside Iraq.  The only difference will be the exchange rate.

Same as with any other country.  Any other way would be totally unfair to the people of the country.

[mylilpony]

7 hours ago, Floridian said:

 

Thanks, Luigi, but I think the dinar is going to be treated the same way inside and outside Iraq.  The only difference will be the exchange rate.

Same as with any other country.  Any other way would be totally unfair to the people of the country.

 

 

Floridian, lets look at it this way. In kuwait they have a kuwaiti dinar that is worth around 3.87 usd. Now in their country they dont get $3.87 cents worth of goods when they go to the market because they dont view that exchange rate from within the country because they use the dinar and not the usd. So whatever their dinar is at for their inside market rate is what they can purchase in goods. Like our dollar here never buys you a dollar worth of goods, its what the market bears in prices at stores, etc. and outside the u.s. the dollar is about .87 cents, but if they were to fly to the u.s. and when they had to exchange at the airport for usd, then they would get the 3.87 usd for every kuwaiti dinar that they exchanged for their trip to the u.s.  So when it is said that the 25 dinar note and the 25,000 will co exist side by side for up to two years and 10 years at the cbi, to me means that is what they figure it will take to get the dinar off the street. Its a feasibility study and a way to calm the citizens so that they feel like they are not getting ripped off. Also i do not believe that these notes will exist that long in iraq because they are trying to get the citizens to the banks now to give up that chunky cash and when they do that will take trillions out of circulation, and they will mainly be using electronic banking just like we do. Do not listen to frank the guy has been wrong more times than i can count. I will never forget years ago when he was calling it because the emir of kuwait was coming to iraq for the first time since iraq invaded kuwait and it would happen just days after that visit. Good grief. The guy talks in circles because he is a snake oil salesman, that has calls for vitamins and whatever else he sells, but what really scares me is that he  uses the lord in his endeavors. I have said several times that a redenomination could have been done along time ago in iraq and could have done away with all the corruption. A redenomination is a neutral event, and does nothing for iraq outside of the country for investors to come in and make money. It does nothing for them in the payment of goods and services that are exported and imported. All the articles that we read pertained to the dinar having purchasing power and its global standing. Here is something i found that might put your mind at ease :

 

Differences between Re-denomination & Re-valuation:

• For re-denomination, All the old notes must be replaced with new notes. This is not needed for a re-valuation.
• Re-denomination does not change the net value(Purchasing Power) while Revaluation does that.
• Bank should announce in advance for a decision of Re-denomination while banks will never announce in advance for Revaluation.

[Floridian]

Thanks, Mylilpony.  I certainly agree with you about Frank, using religion in not-so-good a way.

 

I'm not so sure about the dinar though.  In Kuwait, each citizen gets a salary from the government and hardly anyone works.  They import all their workers from other countries.  In Iraq, everyone who can do it is going to have to work to rebuild the whole place.  

 

It is true that for a redenomination they need to replace all the old notes with new notes.  Maybe, since the people don't trust the banks, they will give them 2 years to turn in their money and the CBI will give them 10 years.

 

While redenomination will not change the value of their money, an immediate reinstatement  to $3.00 (or thereabouts) will give them a lot more purchasing power.

 

If this horrible redenomination does actually happen, they will announce it in advance before they do it.  I just hope it doesn't happen because we will be screwed if we only get 3x our money.  I understand that the average DV member holds 2,000 to 5,000 dinar.  If you are the average DV member, and have waited and followed this for so many years, would you be happy with $6,000 or $15,000?  It's not even enough to buy you a new car.

 

 

[mylilpony]

9 minutes ago, Floridian said:

Thanks, Mylilpony.  I certainly agree with you about Frank, using religion in not-so-good a way.

 

I'm not so sure about the dinar though.  In Kuwait, each citizen gets a salary from the government and hardly anyone works.  They import all their workers from other countries.  In Iraq, everyone who can do it is going to have to work to rebuild the whole place.  

 

It is true that for a redenomination they need to replace all the old notes with new notes.  Maybe, since the people don't trust the banks, they will give them 2 years to turn in their money and the CBI will give them 10 years.

 

While redenomination will not change the value of their money, an immediate reinstatement  to $3.00 (or thereabouts) will give them a lot more purchasing power.

 

If this horrible redenomination does actually happen, they will announce it in advance before they do it.  I just hope it doesn't happen because we will be screwed if we only get 3x our money.  I understand that the average DV member holds 2,000 to 5,000 dinar.  If you are the average DV member, and have waited and followed this for so many years, would you be happy with $6,000 or $15,000?  It's not even enough to buy you a new car.

 

 

 

 

Floridian, the cbi says 10 years but that is not for the citizens that is for other countries so as to not flood the cbi and for the cbi to lose its reserves. The iraq dinar was quoted to be one day the world's reserve currency. That is why countries will hold the dinar within their foreign assets because it will be worth something and not a piddly amount. 

[DinarThug]

2 hours ago, mylilpony said:

That is why countries will hold the dinar within their foreign assets because it will be worth something and not a piddly amount. 

 

So How Much Longer Do We Have To 'Hold' It - My Legs Are Already Painfully Crossed And My Back Teeth Are Floating !  

 

     

 

[fringe on lamps]

How did anyone come up with "2,000 to 5,000" being the average amount of Dinar being held by DV members? Did someone take a poll? Or is that just an approximation?

[Rmc10]

I want them to just do something already. 

[MisterNope]

That's LOPster talk, for those who haven't picked up on that.

Contrary to all this website holds holy.

[Rockymtnhi]

"The iraq dinar was quoted to be one day the world's reserve currency."

 

That is pure nonsense and could never and will never happen from this tiny broke, broken and corrupt country. 

[mylilpony]

8 hours ago, Rockymtnhi said:

"The iraq dinar was quoted to be one day the world's reserve currency."

 

That is pure nonsense and could never and will never happen from this tiny broke, broken and corrupt country. 

 

You evidently dont know of all the riches this country holds, and the history of the silk roads, which was the trade routes for the whole region. They havent been able to use these trade routes for over 40 years, so i can imagine once they are really going strong the amount of money that they will take in for custom tariffs alone. I live in a world where anything is possible because god says so.