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Iraq Currency Re-Done After Parliament Sign Off


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wow i did not like that post ,sorry ,

Yea its definately not what we all want to hear.....what I dont understand is how he is saying that its going to be a redenomination but its not what we think its going to be and its not a RV either laugh.gif So no change in value but they are redenominating the bills aka 1000 old dinar = 1 new dinar.......so if thats whats going down, then it seems as if we shall be waiting alot longer for anything positive to happen....gonna have to be patient!!

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Yea its definately not what we all want to hear.....what I dont understand is how he is saying that its going to be a redenomination but its not what we think its going to be and its not a RV either laugh.gif So no change in value but they are redenominating the bills aka 1000 old dinar = 1 new dinar.......so if thats whats going down, then it seems as if we shall be waiting alot longer for anything positive to happen....gonna have to be patient!!

Actually, we won't be waiting any longer. If they do that, I doubt we will be able to hold onto our 000s forever.

If that may be.... I think I will go through the hoops of the ISX upon a cash-out.

I figure, why not, right? Their economy should "boom" and I figure maybe I can walk away with some profit one way or another. Right?

I should do it now, but, who knows... As foreign investors pour in, I figure that they would pour into the ISX as well.

If it crashes, oh well, I tried at least right? Figure I can't make 2 poor judgment calls in a row..

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I posted the following link under another thread and Dinarck suggested I start a new post thinking others might be interested. For what it's worth, here's the link:

http://iraqidinarnew...ament-sign-off/

Blessings,

Pj

Thanks jpegsch,

Remember not all will like certain post but it is still a contribution to the site to bring articles of intrest never the less. Thanks again.

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So I guess this Dinar will make good wall paper after all... I mean it IS Educational for people who have never seen a note other than a USD. :-( Darnit. (Putting my Tool belt back on) Thanks for the post... Grrrr Haha

Krem

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Actually, we won't be waiting any longer. If they do that, I doubt we will be able to hold onto our 000s forever.

If that may be.... I think I will go through the hoops of the ISX upon a cash-out.

I figure, why not, right? Their economy should "boom" and I figure maybe I can walk away with some profit one way or another. Right?

I should do it now, but, who knows... As foreign investors pour in, I figure that they would pour into the ISX as well.

If it crashes, oh well, I tried at least right? Figure I can't make 2 poor judgment calls in a row..

Your right about possibly not being able to hold onto them forever buuuutttt they have mentioned letting the two bills co-exist for sometime so IF thats the case, maybe just maybe we would get lucky and be able to hold out until the dinar appreciates a bit but on another note, the idea of the ISX is def great.....Thats what I planned on doing with any profit made off this investment because it is a good time to jump into their stock market with it being so young and undeveloped.....sure fire way to make some money off Iraq laugh.gif

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On second thought, If they don't RV, Then what do they gain? I mean, Yes they can still buy a soda by removing 000's, But their note is still worth Close to Nothing compared to our already Low value USD... Right? They have SO MUCH VALUE In that country! Their Note SHOULD Be worth way more than ours.... Right? Idk

Krem

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However, If you give an Iraqi merchant a $ 1.00 usd the Iraqi merchant will not give you back any change. They will keep your one dollar for the purchase of the can of coke. That’s just a policy they’ve seemed to be doing for awhile now.

A policy..yeah the policy of ripping you off.

I think the article is off anyway. Based on the wording they lop but do not revalue. Currency is not worth much now, why would you make it worth even less. They may have some level of purchasing there, but no one will be going on vacation anywhere outside of there unless they are going to Vietnam.

Edited by Jack Dinauer
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I want to hear what Adam thinks. Does this mean their value compared to ours will knock off 000 and be .1? <--- Kinda jokeing. But really, If their note stays the same compared to ours, I'll cross seas to get a tank of gas in my car. It HAS To come up in value. They are not worthless like the Dinar is right now. (Ugh, I Need a Nap... Haha)

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On second thought, If they don't RV, Then what do they gain? I mean, Yes they can still buy a soda by removing 000's, But their note is still worth Close to Nothing compared to our already Low value USD... Right? They have SO MUCH VALUE In that country! Their Note SHOULD Be worth way more than ours.... Right? Idk

Krem

Well if they remove zeros from the currency they would remove them from the exchange rate as well effectively making their currency worth almost the same as ours. I too am kinda lost on what this guy is trying to say when he says the removal of the zeros plan is almost finished and ready for a vote, but then says it is a redenomination and not a LOP and the purchasing power will not increase. Ok lets look at what he said(although it's just some guys opinion). So they are going to remove zeros but it's not a LOP. So it will be a redenomination. OK. A 1000 becomes a 1 note which is a LOP. HAHA. He also said it will not increase purchasing power and its not the RV we all want. I don't know but it all sounds like a LOP to me. Hope he is wrong.

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I hope he's wrong for their country above all else... But ANY WAY you look at what they end up doing, It should increase their note value compaired to ours. Lop, Redenom, RV.... It has to come up or they are still a poor country. Just my Buzzed Opinion (I kicked a couple back after work Haha)

Edited by Krem
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This is old news and it's wrong. Sure, the extra zeroes aren't helping the economy but dropping the zeroes from the notes and from the prices in the shops doesn't change shite for the economy.

The value of the IQD vs the US $ is what it's about.

Lopping is merely aesthetics. RV is about ....eh...revalue.

It's going to RV good people. Not lopping. Do your homework.

J

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This is old news and it's wrong. Sure, the extra zeroes aren't helping the economy but dropping the zeroes from the notes and from the prices in the shops doesn't change shite for the economy.

The value of the IQD vs the US $ is what it's about.

Lopping is merely aesthetics. RV is about ....eh...revalue.

It's going to RV good people. Not lopping. Do your homework.

J

Do your homework?? By that do you mean read the garbage that is tossed out on a daily basis from gurus that dont know what they are talking about?? laugh.gif How can you claim people need to do their homework when its apparent your not fully understanding the possibilities here??

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This is old news and it's wrong. Sure, the extra zeroes aren't helping the economy but dropping the zeroes from the notes and from the prices in the shops doesn't change shite for the economy.

The value of the IQD vs the US $ is what it's about.

Lopping is merely aesthetics. RV is about ....eh...revalue.

It's going to RV good people. Not lopping. Do your homework.

J

Lopping would put their currency on par with ours overnight. Isn't that a revalue? It goes from 1000 times worth less to worth the same.

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If it even Comes CLOSE to ours I'll Be happy. Cause that's a Gain! REVALUE In my Book... Though I haven't written one... I'm not smart enough :-/ But something will come from the dinar. My Opinion, And hope.

Krem

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The article is over a month old. Parts of the article are observations and as such are open to interpretation. My point is that we will not really know until the CBI post a rate.

yeah, i thought i read this before.......and your exactly right..when its posted we will know!!! No matter what the outcome is...and i hope its an okie type of outcome....IM JUST GLAD I GOT TO BE PART OF IT!! :D

I have blown more at the casino...so it doesnt matter!

Edited by Crow
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Seems to me that if they remove the 0's from their physical currency (i.e. 25000 dinars = 25 dinars) then they still have to revalue the worth or they are reducing their purchasing power by simply reducing the amount of physical dinars on hand. Which implies that regardless they have to revalue the worth of the dinar. So the question is: do they LOP and revalue or simply revalue. Two schools of thought, but I believe they will simply revalue because they want the greatest purchasing power possible; because other nations are involved with dinars waiting to be traded for oil; and because infrastructures don't come cheap. Yes, I've read reasons that people believe a LOP is imminent- and, it might happen coupled with a reval which I believe would make our investment gain ~300%; however, I believe that a small reval without a LOP is just as feasible (.25-1.00) or that it could in fact support a 3.00 reval assuming that nations will most likely look to bind some type of 'oil for dinar' contract and individuals will convert to electronic transactions.

Everyone on here has probably read and read the information available and it becomes a matter of personal belief because the one thing I'm certain of at this moment is we won't know until the lady sings. 300% doesn't change my life- 3000% does... so you know where I'm at :) Good luck to everyone and GO RV

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