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alan_coaks_3

Lopster
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Posts posted by alan_coaks_3

  1. What happened to your "super secret sources" who told you that we were going to RV back in December 2010? I guess you're much wiser now huh and have moved onto trying to spread your doubt.

    I'm well aware of what a redenomination is but thank you for the Wikipedia answer.

    You mention how Keepmwlfkny used to pretend to have "super secret RV sources" and he disappears pretty fast doesn't he?

    what are talking about ? i have never said anything about keep having secret sources. i think you may have me confused with someone else

  2. Those articles are COMPLETELY DIFFERENT. Are you serious right now? One article is referencing a RD and one is not. The first one is over a week ago and said "The Iraqi Parliament and the Finance Committee supports the Central Bank of Iraq (CBI)’s efforts to revalue of the Iraqi Dinar through the removal of three zeros from the currency. The removal of three zeros is expected to raise the value of the Dinar as well as facilitate dealing with the currency and the payroll system in the country." They used the word REVALUE, in case you missed it, as I know you're a selective reader. It's funny to see YOU of all people whine that someone is making personal attacks against you. Looks like someone found his match.

    redenomination refers the removal of zeroes from a currency.

    dropping zeros enhances book-keeping and reduces the drudgery in transactions, record keeping and banking activities.

  3. Thats funny TAKE 1000 dinars for 1 dinar How about you can try to TAKE a 1000 for 1

    from me I will burn it all before I give up my notes for nothing!

    To me if the old notes and the new are still good for 2 years then I will wait the full 2 years

    before I even think of giving them there 3 zeroed notes back but if they lop I burn them all.

    For 2 years they could do anything with these notes once they are in the USA's or cbi's hands making themselves rich

    for cheap.IMO they want these big notes back then pay me right for them or you do not get these big notes back ever!

    I would think that they would want every note back as to get credit for the notes.

    What happens if we all said screw you shabbs we will just burn all our notes

    would that make him happy?????

    would the USA be happy if we destroyed these notes?

    PAY us or LOSE the notes.sounds good to me!

    I have always wanted to see 20 mill burn red smoke ! I0p=red smoke

    Hey it was a gamble to start with and I could afford to burn them!

    So who would really lose if they were destroyed? besides me.

    The milburn drysdales of the banking industry only see profit not a I0p. wait a minute

    that means we lose as bankers cant have that!

    if they say ur old dinar will be exchanged at 1000 to 1 that wont change at all in the 2 years. it will always stay the same

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  4. Now...that dont make any sense at all :) . There will be stampedes at the banks ~ every Iraqis would be rushing to the bank to change the old dinar for the new because of the higher value. Why even suggest the old and new currency would co-exist for a period of one year.

    People rushing to the banks is definitely NOT part of CBI plan.

    zul he means that if the old dinar we have is exchanged at 1000 to 1 new dinar that means the new dinar would only be worth 86 cents. not ours we would have to give 1000 of our dinars

  5. Who cares what others think? Are you grouply vested with others that don't agree with you? Has anyone threatened you by way of waterboarding if you don't adhere to there way of thinking? I don't get why some here are so worried about what others think. I would suggest the good people here at DV are grown and can form there own opinions just like yourself. Those opinions may be different than yours but last time I checked thats legal. I respect your opinion,as I do everyones.

    lol i don't get my info from other i get them for the articals that are coming out.

  6. Do we have a link?

    My link here the link

    Mahma Khalil, another Member of the Iraqi Parliament and official spokesperson of the Economic Committee says an agreement has been reached about the mechanisms of introducing the new banknotes after a series of meetings and discussions with the CBI Governor Dr. Sinan Al Shibibi.

    "According to the agreements, the new bill will be printed by a European company and introduced to the market gradually and in a well-planned schedule to ensure it will not result in shocks and would not have a negative impact on the market," explained MP Khalil. He added the exchange rate between the new banknotes and the old ones would be 1:1,000.

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  7. I definitely understand where the LOPsters are coming from. The articles about the 000s are a bit vague, plus translation issues. They do make it sound like 1000 old dinar will be the same as 1 new dinar, yet there are articles from people high in the system that make it sound like 1000 old dinar will exchange for 1000 new dinar.

    However, I think the strongest argument for the RV scenario is the absence of a completely clear article saying 1000 will be traded for 1, despite above indications there is such an article. ALSO, an outright RV CANNOT be described officially AT ALL!!!

    So:

    1. NO crystal clear redenomination articles, and there is NO reason NOT to say the people will exchange 1000 old for 1 new IF THAT IS THE PLAN.
    2. An RV CANNOT be publicly described IF THAT IS THE PLAN.
    3. I fail to see how an RD helps the poor in Iraq in any way. Making transactions "easier" by issuing a new currency is a ludicrous explanation for the expense involved, and worn out bills can be replaced for less cost than printing entirely new currency. The improved security measures would be the only real gain.
    4. If there is not going to be an RV, why delay becoming a trade-able currency?? Do they need anyone's permission? Does the IMF have to sign off on it? Being valued low is no reason for not being trade-able. They can LOP after being internationally recognized, so no real reason to delay pulling that trigger except waiting for the new currency to be available. Yes, I realize it may not be available yet, and that could be the biggest reason neither scenario has manifested yet.

    Therefore, I will continue to expect the IQD to RV eventually (2013 looking good, but so did 2012), and I believe this to be a LOGICAL position, not one of hope and faith alone. At the same time, I cannot guarantee this result, as it is not a question of death and taxes.

    Peace and Prosperity

    Redenomination leads to greater confidence in the currency.

    After redenomination, businesses and citizens may be more willing to shift their preference to the local currency rather than to an international currency. Hence, the dropping of zeros restores credibility and confidence in the local currency and enables the government and the central bank to reassert their monetary sovereignty.

    Redenomination is sometimes used to indicate that era of failed economic policies has come to an end and that the economy is poised to start on a new slate. This helps to increase confidence in the economy and sends a signal to both the local community and the international markets that high inflation and general macro-economic instability are a thing of the past.

    dropping zeros enhances book-keeping and reduces the drudgery in transactions, record keeping and banking activities.

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  8. we all know for sure they will get arid of the 3 zeros on the new banknotes. there was an artical posted about 2 months or less ago about how the Central bank of iraq goal is to get the iraqi dinar exchange rate to 1000 dinars to 1 dollar. they want to make a new currency that is less counterfitable cause there been alot of counterfiter out there that are making the current dinars.

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  9. 7 - 4 - 2012

    Iraqi Dinar Investments: Opportunity or Scam?

    Better Business Bureau (BBB) is warning consumers across the country to be wary when considering any foreign currency investment, particularly the Iraqi dinar. Over the years, BBB complaints nationwide about dinar investments allege a number of scams surrounding the profit potential of dinar currency investments. For this reason, BBB advises consumers looking to buy dinar to familiarize themselves with the most popular scams involving Iraqi dinar and recommends making an informed decision.

    According to the U.S. Commodity Futures Trading Commission (CFTC), the growing number of investment opportunities in recent years has been accompanied by a spike in foreign currency trading scams. While there are legitimate firms that trade foreign currency in foreign exchange markets, others utilize promises of large profits, religious associations, and charity affiliations to take consumers’ money.

    “The web is filled with promises of making millions of dollars by investing in Iraqi currency,” said Catherine Ralls, BBB Trade Practices & Investigations Specialist. “Consumers should know that investing in promises of fast profits from currency trades could lead to potential losses.”

    BBB provides the following tips to those considering investing in Iraqi dinar:

    Verify the product: To avoid buying counterfeit foreign bank notes, purchase currency from dealers registered with the U.S. Treasury as a Money Services Business (MSB). However, registration is not a reflection of experience in trading currency nor does it entail any qualifications on the part of the dealer, other than basic anti-money laundering requirements. Also, make sure you are receiving new dinar introduced in 2003; old dinar has a picture of Saddam Hussein.

    Be informed about exchange rates and fees: Iraqi dinar sells online in various denominations for a wide range of prices. Since Iraqi dinar does not trade freely in international markets, it is difficult to find objective exchange rates. The current exchange rate at the Central Bank of Iraq is 1170 dinars per US dollar. Consider the fees charged by dealers, which ultimately affect the price paid for dinar. Sellers have made a substantial amount of money through currency conversion fees they charge buyers.

    Be skeptical about predictions: The announcement that Iraq wants to delete three zeros from its currency has many believing the ‘revaluation’ will instantly give them 1,000 times the profit on their original investment. However, it is likely Iraq will issue new currency, exchanging 1,000 dinars for one new dinar if they delete three zeros.

    While some sellers foresee the Iraqi currency substantially increasing in value, currency investors face considerable risk. If Iraq inflates its currency or devalues it, the value of the dinar could plummet. Further civil strife may also put downward pressure on the Iraqi currency.

    Don’t mix apples with oranges: Some sellers hype the dinar as an investment opportunity by citing the rise in the value of the Kuwaiti dinar after the Gulf War and the German mark after WWII. Neither Kuwait nor Germany had a free-floating currency. Their value was mostly a function of official policy. An economy in Iraq’s situation - with an unstable government, acts of terrorism and widespread corruption - is likely to experience a currency crash or international devaluation.

    Watch out for unsubstantiated, sweeping statements on religious or charity affiliations: Statements such as “pray for advice from God before making a purchase” or “our company has committed 10% of the profits towards providing for military based charities,” can be used in an attempt to connect with consumers and entice them to invest in dinar.

    Other statements such as “everybody will want to get in on this,” are also used. However, remember there is currently no active market for dinars - you can buy them, but can you sell them?

    Consumers are advised to avoid “opportunities” marketed by unregistered advisers to inexperienced currency investors. Legitimate opportunities should disclose all risks and avoid modifying or fabricating performance history to make an opportunity look better than it is.

    My link

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  10. 7 - 4 - 2012

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    Member of the parliamentary Finance Committee and a Deputy from the Kurdistan Alliance organization that controls established by Mustafa Central Bank on the currency changeover took place in coordination with the Iraqi Government. Mustafa/JD/that "Central Bank instructions and controls on new currency switch process in coordination with the Iraqi Government and informed deputies to reduce forgery during the replacement process. "The Finance Committee discussed with the Central Bank's controls for process easily and smoothly without negatively affected the price of the new currency or allow fraudulent currency trading.". Mustafa said "the Committee also discussed how to help mode that allows the application of the replacement currency without falsification.".Without that reveals these controls, which are confidential cases.. The Central Bank said the new Iraqi currency a day after deleting zeros in January ... Central Bank Governor Sinan Al-Shabibi/JD/"Bank will put up new Iraqi currency after deleting three zeros in 1/1/2013.". The Central Bank Governor said "there are many procedures and many misgivings on its implementation of the Bank is keen to be a safe and easy exchange.". The parliamentary Finance Committee revealed earlier Central Bank contracted with major companies to print the currency of high quality paper. " She is a member of the parliamentary Finance Committee Magda Tamimi "cost actions devoted to switch currency at 150 million dollars. She noted that the "switch currency withdrawals be gradual through the check-in process at banks," "currency be withdrawn gradually and not once as in the previous switch.". Tamimi noted that "the Finance Committee as a follow-up to the work of the Central Bank and abreast of what is going on with the printing of the new Iraqi currency. "The Finance Committee member of" parliamentary speech, "Central Bank Governor Sinan Al-Shabibi" deposit in banks when switching the currency would be in one place and controlled to protect the currency from counterfeiting.

    My link

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