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Raleighwood
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Posts posted by Raleighwood
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During an interview with Al Jazeera in Jun 2011, Saleh of CBI mentioned that CBI reserves rose sharply to 250 Billion USD. ( u can google this)
If they LOP..30 trillion IQD will become 30 billion IQD and at 0.86; equivalent to 26 Billion USD.
Now...250 billion USD reserves support exhange rate for 30 billion dinar ( worth 26 billion USD)..? LOL!
No..i dont think it will LOP.
That was the capital reserves of the banks under the CBI....
The CBI actually just came out and mentioned that the foriegn reserves (which is what backs the dinar) just rose to 58 billion because of high oil revenues...
The 250 billion is what people jumped on as having to mean that the DFI funds were dumped into the reserves and that a RV is definately imminent...
But I would agree that IF that 250 was the actual reserves in the CBI, then they could definately raise the value of the dinar by quite a little bit without having to lop first
Everyone wants there to be a straight up RV. So I asked my Macroeconomics teacher about the iraqi dinar. He didnt know much about it. I told him theyre projecting a revalue of the IQD soon. He said what they will do is print new bills (or currency) and eliminate three zeros. So it seems we do not want them to vote on the elimination of the three zeros which would = a LOP. We want them to straight up RV and print smaller denominations. aka (RD)..discuss...
He is correct....we dont want them to delete the zeros....I should say though that here in dinar land, the lop and rd are used to describe the same thing for the most part.....
To put it simply, we want a straight up RV and an issuing of new bills to add to whats already out!
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Okay I do have to spell this out for you I am saying they are NOT creating a larger denomination frequently I am not talking about replacing or printing more notes then their reserves can handle. I.E. they are not creating 50k, 100k, 200k etc. etc. What I said really isn't that hard to understand I have said printing new denominations numerous times, not replacing warn notes not printing more, k got that? I sure hope so. Your arguing a point that is not their.
Then be specific....its obvious they aren't printing anything more then a 25k note lol....but anything with 3 zeros is a larger denomination when we are talking about Iraq! But you also stated that they weren't printing other then replacing notes so who was to know that you were speaking about bills not even in existence....are you ok? No need to get upset because you had to back track or recant cause you weren't sure what you were saying
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I bought 250k in 250 and 50 notes just in case..... Cost less than $350
When was this?? Cause from my understanding, anything lower then 1000 is jacked up on its prices....
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We have international news agencies reporting the three zero talk in english, please tell me how this is misinterpreted. take off the blinders and set the koolaid down, and explain how its misinterpreted. these are specific details my friend. why would iraq even release these details to news agencies, they dont have to. if this was truly a rv, it would be hush hush. especially if iraq had plans of realing a rv anytime soon. not good
They are just as good as the gurus twisting the negative information and articles into meaning something good....
The gurus did such a good job of twisting it, and feeding it into everyones heads, repeating it over and over that its now taken as fact that deleting the zeros is a good thing....
What a joke it has become
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don't bash me. i want my thousand to be a million as much as anyone.
i honestly believe however that they will make the 25k dinar notes the equal of the new 25 and then rv 3 or 4 to one. so we make some money just not what everyone wants. this is based on reading all this stuff and just a logic that i can't seem to get by that the investment will explode over 3,000 times.
don't bash me. i want my thousand to be a million as much as anyone.
don't bash me. i want my thousand to be a million as much as anyone.
don't bash me. i want my thousand to be a million as much as anyone.
Its the ones like you, me and a handful of others that think conseratively and logically based off whats going on around us that get bashed unfortunately....unless you believe in a 3 dollar overnight RV you are an outcast and deemed a negative nancy....
Its hard to ignore what they have been telling us about lopping the currency the past 3-4 years but some just decide to put their head in the sand.....
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I wasn't talking about printing new notes to replace old ones I was talking about printing new larger denominations.
You can bet they are printing new ones period....check out the CBI financial indicators...the amount in circulation just keeps climbing so they are definately printing more then just ones to replace old notes....
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Looks like he's following Breitling advice. I did
But at what cost??
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Thank you for the responses, I guess this proves how many different interpretations there are! I've heard a lot that the removal of the zeros will affect us no matter what - even warka and other electronic bank accounts will be changed with the new denoms when the zeros are removed.
So I assumed it will effect us all no matter if we are in country or out.
You are correct.....if they remove the zeros, then everyone is affected who has the currency no matter where you are and no matter if you have it in physical notes or electronically in the bank....
The new currency would be introduced at the same rate as the ones we have now (1170).....and to stay in the game we will be required to exchange our bills for the new ones at a rate of 1000 to 1.....just keep an eye on the articles of deleting the zeros and hopefully parliment doesn't pass the plan and they kick it out
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I've asked this before and havnt seemed to find anyone who could answer so here's to round two!
My question is this:
If we were to RV at a 1:1 rate, am I right on the following?
25000 IQD : 25000 USD
25 New IQD : 25000 USD ( bc they keep stating that the 25000 dinar will be equivalent to the new 25 dinar in value)
So....
1 new IQD : 1000 USD? That's just crazy ridiculous to me so I'm assuming I'm misunderstanding?!?
Your scenerio of what they are telling us is not a RV.....its a redenomination or lop.....
Its what we don't want to happen! Deleting the zeros is a lop.....
Your 25k note would be equal to one new 25 note and when the echange process is over, its safe to assume they will raise the value of only the new dinar and the old will become worthless so you would basically break even minus any fees you paid for your dinar
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Smoke and mirrors newbie, Iraq hasn't printed new notes from this series since its inception. Countries in hyper-inflation create larger denominations very often almost on a monthly rate, germany, Zimbabwe, Brazil, Argentina Mexico, Greece. Those countries were in hyper-inflation Iraq is not.
Iraq is still printing notes....learn how to check the date on your bills and you might be surprised.....alot of folks here had 2009 and 2010 issue banknotes....
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A “LOP” must (does actually) mean a DEVALUATION… or otherwise why fear it ???? Back to my point… Redenomination will not/does not directly effect nominal value of the notes! You can’t have it both ways…
You have. Been listening to too many gurus.....a lop/rd doesn't make the exchange rate go down.....it stays the same until the exchange process is over, then the new currency is revalued because the money supply is cut short.....
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4 months compared to 3 years IS IMMEDIATE....did you not read how i was comparing the TWO
are you really that much of a stickler, to the point that you miss obvious information presented to you in a clear and concise format?
WOW
they are not redenominating.....CBI never said "we are soley and only redenominating at the purest form of the definition"
they are revaluing....and then printing lower denoms....and then gradually removing higher notes from circulation....this process is not pure unadulterated redenomination
the process is just as it is stated.....no specific name for it.....however there is a definition for it....shall i say it again?!?
they are revaluing....and then printing lower denoms....and then gradually removing higher notes from circulation
they are revaluing....and then printing lower denoms....and then gradually removing higher notes from circulation
they are revaluing....and then printing lower denoms....and then gradually removing higher notes from circulation
they are revaluing....and then printing lower denoms....and then gradually removing higher notes from circulation
they are revaluing....and then printing lower denoms....and then gradually removing higher notes from circulation
You just can't seem to comprehend anything you read huh? Many of the delete the zeros articles say they are redenominating in the article.....how much longer are you gonna keep lying to yourself, putting out incorrect information, and leading people on?
Your just as bad as the gurus that twist the bad stuff into meaning something good.....
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Xyzzy,
I have read many of your posts in this thread and most are well thought out. However, I do have a problem
with your RD scenario. With the old currency and new currency co-existing for up to 3 years. (because there is no time period for cash-in)
This means that you would have an old 1000 dinar note AND a new 1 dinar note in circulation AT THE SAME TIME....AND..... BOTH with the same value.
Can you really see this happening? Has this ever happened anywhere in history?
That's usually how it always happens in a RD.....new currency is introduced at the same rate as the old, then once the exchange period is over and they deem the old currency worthless, they give the new currency a higher value
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They probly won't stop selling the US dollars (auctions).....its a way to keep the exchange rate stable.....some countrys still hold auctions of US dollars and they are very close to being on par with the USD
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The only line that sounds good is saying that the purchasing power will be as if the currency did not under go change but that seems to be after the fact of deleting the zeros which is in itself a rd or lop, whatever u wanna call it
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100 dollars per 500 dinar and you got yourself a deal!!!!
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Some people it seems, would even scream RV if they were told the dinar is no longer the currency of Iraq......
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It was not a dumb answer ... Iraq was ordered to de-dollarize, it's been in the news - maybe you're asking a dumb question ... do your research.
Not sure if he knows how! You should be able to tell from his wild imagination and incorrect assessments.
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I think its probably close but the one thing i see is the Iraqis want the dollars in the bank and the dinars in the public
Because this gives them more buying power on the world market (better standing to back they're currency )
and as the public brings in the 25k,10k,5k notes and $100 dollar bills they exchange them for smaller denom's
and yes they have small denom's
I have a sute-case full
even the coins from 03'-04' (and there sill good )
You poor fella......Who fed you lead flakes??
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No beuno......not only are there articles from the CBI saying they want to RD but now from ruetuers (sp).......time to look into warka and look beyond the currency speculation cause that's not gonna get us anywhere from the looks of it....
Taking three zeros from face value is a lop.....just like turkey, brazil, mexico you name it....doesn't look good for us....still hoping it doesn't get passed....
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Don't be like that R. Aqua's got good intentions, and that's in short supply these days.
Your right....my bad....
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the IS the official anti LOP w/ proof thread...
Your almost as dilusional as okie.....
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nobody knows any of this for sure, these people think they do!! its like everything else that comes out in the news whatever. these are people who have not invested-probably- in warka, and might get burned. i have a lot of dinar in warka to try to cover my ass for who knows what. and the other reason: what if it rv's at a low rate and you are forced to exchange your paper bills in lets say 90 days. leave your dinar in warka for as long as it takes for the exchange rate to bump up to pre sadam era value. they will cash in for a few hundred thousand and eventually you will exchange for what could be millions. don't let these peckerheads talk you out of anything, they don't know anymore than anyone else!!!!!
the only good thing???
what if you have a lower rv of lets say .25cents to the dinar, and you have a short window for exchange lets say 90 days. these are real possibilities. if you hold your warka dinar and get great interest until the exchange rate bumps up a lot higher, which it will, you are looking at a hell of a lot more money. this is the main reason i am in warka, not just to protect against a lop, which it might. you dont know that.. not so smart now. lol
Actually I do.....you cannot hide from a redenomination....whether its cash or electronic. First off if you read up on how the first exchange went down when they changed currencies, they specifically talk about bank accounts and how since there was an even one to one exchange, there was no need to adjust them.....if they RD you will be exchanging on a 1000 to 1 ratio so you can bet that the accounts WILL have to be adjusted....its not rocket science......
Secondly, go find yourself a knowledgable banker or someone involved in the field of currencies and monetary policies and have a little conversation about redenominations, or matter of fact, you could probly find someone who has been living or has lived in one of the many countries who have changed currencies or redenominated and they will tell you the same thing....
If you know how to browse the internet you could even find the answer on there....google is your friend....this is the information age buddy, why don't you come join it?
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Still staying positive on the fact that I am obviously missing something here. Pease don't bash me....I simply interpret this as "raising exchange rate AFTER deleting the zeros."
What am I missing that keeps everyone so positive about this - I need in on the secret because I'm deflated right now :-(
No reason to bash....you are reading it correctly unfortunately for us....good for them, not so good for us....
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Iraq in hyperinflation; currency to be revalued
in Iraq & Dinar Related News
Posted
I thought we were all here waiting for the Weds special at McDonalds?? Did I join the wrong forum???