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THE CENTRAL BANK OF IRAQ IS READY TO REVALUE THE DINAR


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#61 Puff

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Posted 03 October 2010 - 06:43 AM

"Said Dr Issam Mahouelle’s (Citizen) said yesterday that the process of deleting the zeros must be offset by increasing the power of the local currency to be considered at the highest levels of accuracy in choosing the appropriate time to inject a new currency."

Translation: Revaluation



Thanks Phoenix
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#62 ruger

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Posted 03 October 2010 - 07:53 AM

The removal of the 3 zero's makes no sense on one simple fact in my mind. 25,000.00 = 25.00.....( loop ) what would they do with the 500's and the 50's that don't have 000's. Anyway besides the outside counties being pi$$ed what would the people in Iraq do if the bank takes away their money again. The banks are trying to build trust I think.
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#63 saturday night

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Posted 03 October 2010 - 08:26 AM

The removal of the 3 zero's makes no sense on one simple fact in my mind. 25,000.00 = 25.00.....( loop ) what would they do with the 500's and the 50's that don't have 000's. Anyway besides the outside counties being pi$$ed what would the people in Iraq do if the bank takes away their money again. The banks are trying to build trust I think.

i AGREE. Lets not forget that this is bigger than just individuals. World governments are hanging on this to survive. The federal reserve and the IMF are well aware of what can happen to the world economy if this was to go south. They have all met and probably inked out a deal. We are currently waiting for the bad boys club to finish the fight to see who is left standing. The power people of the world probably have that figured out already also, so just relax a little. The money will RV and the work force of the world will go to work rebuilding an entire country. This is slated to be the largest economic boom on this planet, and we get to be a small part of it. Lets move on to more pleasent and positive threads.
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#64 honugirl

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Posted 03 October 2010 - 09:08 AM

i AGREE. Lets not forget that this is bigger than just individuals. World governments are hanging on this to survive. The federal reserve and the IMF are well aware of what can happen to the world economy if this was to go south. They have all met and probably inked out a deal. We are currently waiting for the bad boys club to finish the fight to see who is left standing. The power people of the world probably have that figured out already also, so just relax a little. The money will RV and the work force of the world will go to work rebuilding an entire country. This is slated to be the largest economic boom on this planet, and we get to be a small part of it. Lets move on to more pleasent and positive threads.


Amen to that!!!
:rolleyes: :) :rolleyes:
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#65 mach1.3

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Posted 03 October 2010 - 09:33 AM

Correct me if I'm wrong......if the dinar looses the zeroes( ie. 25,000 dinar note now becomes 25 dinar note) we would be able to exchange our 25,000 notes for one thousand 25 dollar notes. What have we lost.....NOTHING!!
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#66 keepmwlknfny

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Posted 03 October 2010 - 10:02 AM

Unless you have a Warka account which does carry its own risks. With a LOP/re-denomination or an in country revalue, having a bank account inside Iraq solves these two problems. Keepmwlknfny, I know you know this, but just stating for seascape61.

Thanks for you responses.



With a bank account inside Iraq it will still be affected if there is a redenomination.....nothing is uneffected by that.....its just by having an account you wont need to exchange bills, it will be done automatically but you wont be safe from a redenomination. Not sure where you got that information......

Correct me if I'm wrong......if the dinar looses the zeroes( ie. 25,000 dinar note now becomes 25 dinar note) we would be able to exchange our 25,000 notes for one thousand 25 dollar notes. What have we lost.....NOTHING!!




No, if they redenominate your 25,000 bill is now equal to the value of ONE new 25 dinar note......NOT a thousand 25 dinar notes......redenomination doesnt work that way.....you end up losing the face value for what you currently have.....
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#67 army03

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Posted 03 October 2010 - 10:03 AM

The rollercoaster ride has departed the station...JUst RV......
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#68 Texan49

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Posted 03 October 2010 - 10:25 AM

are you sure about that...look at his reputation...its in the negatives for a reason....of course thats how you see it because thats how you want to see it...where does it say smaller denominations...it says new currency (redenomination) ......look back at other articles where the cbi has stated themselves that they will redenominate and your 1000 old dinar would be turned in for 1 new dinar not...hense removal of 3 zeros....nobody knows what will happen..nobody....we get conflicting articles all the time...what the pumpers have said about the revalue has never happened before in the history of time but the redenomination has.


Who cares about reputation. Agree to disagree . Articles for the most part are smoke, figure out whats factual and what is not ,then you will have the answer.Good luck with all that
We will have and RV under what circumstances we will not know till it happens. We shall see hopefully sooner than later.
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#69 tat2guy

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Posted 03 October 2010 - 10:31 AM

It doesn' make any sense to me as to ..... they remove the threezereos from the larger denoms...(25000, 10000, & 5000) dinar notes. which in exchange would be (250, 10, & 5's).if that was the case if we hve to exchange the larger denoms we would get the equivalent in smaller denoms. all that is really happenin is they are creating a largersrplus of currency to allow for smoother and easier transactions foir the iraqi pepople.......(i.e.----we have 100's 50's 20's etc.) but the key as i said in my opinion is creating more money without loosing the value they are simply putting a new engine in an old car to mak it prform better and more efficient...............



"patience is the key to seein this investment trough to reep the rewards......."
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#70 keepmwlknfny

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Posted 03 October 2010 - 10:44 AM

they remove the threezereos from the larger denoms...(25000, 10000, & 5000) dinar notes. which in exchange would be (250, 10, & 5's).if that was the case if we hve to exchange the larger denoms we would get the equivalent in smaller denoms.



Only if we get a 1 to 1 ratio for exchaning our current bills.....but in a normal redenomination thats NOT how it happens.....you would take your 25,000 dinar note, and in return you would only get ONE 25 dinar note.......hopefully thats not what goes down but thats the reality of a redenomination
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#71 onerighthand

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Posted 03 October 2010 - 11:02 AM

[quote name='keepmwlknfny' date='03 October 2010 - 12:02 PM' timestamp='1286121733' post='212955']
With a bank account inside Iraq it will still be affected if there is a redenomination.....nothing is uneffected by that.....its just by having an account you wont need to exchange bills, it will be done automatically but you wont be safe from a redenomination. Not sure where you got that information......

I guess I don't see how. A thousand dinar is still worth a thousand dinar if you are not holding physical currency. That thousand dinar might not buy as much, but it still a thousand dinar on the balance sheet.
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#72 mach1.3

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Posted 03 October 2010 - 11:22 AM

Only if we get a 1 to 1 ratio for exchaning our current bills.....but in a normal redenomination thats NOT how it happens.....you would take your 25,000 dinar note, and in return you would only get ONE 25 dinar note.......hopefully thats not what goes down but thats the reality of a redenomination


If currently 1USD = .00085 IQD and after a possibly re-denomination (ie losing 3 zeroes) now makes 1 USD = .85 IQD, obviously we are still breaking even. Hypothetically, if I used to have 1,000,000 dinar and now have 1,000 dinar due to the lose of the 3 zeroes and the IQD revalues to $3.00, instead of having 3,000,000 USD I now have 3,000 USD.........is this what you are thinking?
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#73 EBJNYC

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Posted 03 October 2010 - 11:38 AM

are you sure about that...look at his reputation...its in the negatives for a reason....of course thats how you see it because thats how you want to see it...where does it say smaller denominations...it says new currency (redenomination) ......look back at other articles where the cbi has stated themselves that they will redenominate and your 1000 old dinar would be turned in for 1 new dinar not...hense removal of 3 zeros....nobody knows what will happen..nobody....we get conflicting articles all the time...what the pumpers have said about the revalue has never happened before in the history of time but the redenomination has.


The fact that we keep getting CONFUSING articles is a good thing. If a LOP were going to happen -- it would have happened earlier in the game. This indicates to me that a MUCH MORE PROFITABLE outcome is lurking around the corner -- this is EXACTLY why NO LOP has happened --- and ALL THE CONFUSING articles keep flowing.
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#74 onerighthand

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Posted 03 October 2010 - 06:43 PM

With a bank account inside Iraq it will still be affected if there is a redenomination.....nothing is uneffected by that.....its just by having an account you wont need to exchange bills, it will be done automatically but you wont be safe from a redenomination. Not sure where you got that information......





No, if they redenominate your 25,000 bill is now equal to the value of ONE new 25 dinar note......NOT a thousand 25 dinar notes......redenomination doesnt work that way.....you end up losing the face value for what you currently have.....


Hey don't leave me hanging!
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#75 cpt_fresh

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Posted 03 October 2010 - 06:50 PM

i AGREE. Lets not forget that this is bigger than just individuals. World governments are hanging on this to survive. The federal reserve and the IMF are well aware of what can happen to the world economy if this was to go south. They have all met and probably inked out a deal. We are currently waiting for the bad boys club to finish the fight to see who is left standing. The power people of the world probably have that figured out already also, so just relax a little. The money will RV and the work force of the world will go to work rebuilding an entire country. This is slated to be the largest economic boom on this planet, and we get to be a small part of it. Lets move on to more pleasent and positive threads.

is it possible large notes were being sold to unsuspecting individuals while countries have piles of lower denominations.........lop won't affect their stockpiles and the increase in currency values will cure debt and cover reparations.......the big players always have first access and "no", they wouldn't go through all of this just to come up empty........it's not a humanitarian mission.......just paranoid i guess
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#76 keepmwlknfny

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Posted 03 October 2010 - 07:50 PM

Hey don't leave me hanging!



LOL sorry....I tried replying but for some reason it wouldnt post....but anywayz.....yea even if you have your dinar in an electronic account and it redenominates you will not be safe....it will still be affected....if you have lets say 10,000 dinar and it redenominates at a rate of 1000 to 1 then for every 1000 you have it will be removed and you will be left with 1 dinar.....I wish there was a safe haven against a redenomination but unfortunately there isent...... :lol:

If currently 1USD = .00085 IQD and after a possibly re-denomination (ie losing 3 zeroes) now makes 1 USD = .85 IQD, obviously we are still breaking even. Hypothetically, if I used to have 1,000,000 dinar and now have 1,000 dinar due to the lose of the 3 zeroes and the IQD revalues to $3.00, instead of having 3,000,000 USD I now have 3,000 USD.........is this what you are thinking?



Yes that is correct................redenomination = bad........RV then redenomination = good (depending on the rate) :lol:
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#77 onerighthand

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Posted 03 October 2010 - 08:38 PM

It is hard to grasp the concept, Instead of a thousand little dinars, you trade them in for one big dinar and you end up with the same buying power. Correct?

Another thought. I imagine it would and Will affect the ISX. Stock values change or the amount of stock you own would change?
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#78 keepmwlknfny

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Posted 03 October 2010 - 09:29 PM

It is hard to grasp the concept, Instead of a thousand little dinars, you trade them in for one big dinar and you end up with the same buying power. Correct?

Another thought. I imagine it would and Will affect the ISX. Stock values change or the amount of stock you own would change?



Correct.......for them, they will have to exchange those bigger bills for smaller denoms until the larger ones are phased out completely and they will be worthless......for us we will be straight going for USD.....hopefully......and yes depending on what they do with the currency it will also affect the ISX...that was another issue that they brought up about how to handle this situation.....I cant quote it exactly and Im not even going to try :lol: but to make things short it was considered to be a big headache if they redenominate and it would be confusing as hell.......
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