cooked

Is it like full blown AIDS?

But how can a country preannounce a new rate on their currency. This is suicide. They would either create a run or a massive sell off. they just cant announce it until the exact moment it pops what ever way it goes. this is all heresy and hopeful predictions. They WILL NOT give the rate before they make any change.

And where do you think they come up with 11 billion dollars?

Still hard to understand how they could do this. while a lop and rd would probably help them, they would pi$$ off a lot of other countries they owe money to. If they turn 30 trillion to 30 billion and then rv to 3.00 they still only have about 90 billion or so plus the 80 billion in reserves. they supposedly have a budget of 134 billion next year alone. where is all this money coming/going? They are worth far more than that when you factor in all the resources they have.

While I know this is two years old, I just stumbled across this. Anyone heard of Radio free Europe? What are your thoughts on this? BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports. Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions. He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end. He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions. In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note. He said the change was inevitable, considering the economy is expecting high growth in the coming years with a planned increase in oil production to finance reconstruction projects. Saleh said there were currently some 29 trillion dinars in circulation in Iraq, represented by some 6 trillion banknotes of various denominations, most of them quite small. He said this also caused complications for the Central Bank and government, as well as commercial accounting departments. Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945. The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament. Saleh noted that until 1980 the Iraqi dinar exchange rate was 1 dinar/$3.3 compared to $1/1,168 dinars now due to hyperinflation that occurred during the latter part of the late ousted leader Saddam Hussein's reign.

That was my first thought too. They talk so much it's tough to sift through the rhetoric and actual new developments.

Talk talk talk. That's all they do. How about some action? Thanks Yota.

Iraquis, mental paths? come on now. you're giving them too much credit. At least the politicians that is.

A rate of 1:1 would make it even stronger.

How true, we have no clue.

They always say nothing happens during Ramadan. Do you think the same holds true this year? Or will things change this year? Will laws pass? Will the HCL be passed? What do you think will happen?

Come and settle baby, settle. Daddy's got to buy a new boat like the one on the Geico commercial with the sweet babes in bikinis.

I knew it was not trillions, just forgot the real numbers.

I believe the gold is 2 BILLION. Not really that much in gold compared to other gold holding nations. Surely an amount I would like to have. Do the math and confirm the numbers.

One of the best posts I've read. Wonderful outlook and even keel. I'd give you more pluses if I could. Thanks.

This article isn't too comforting to me either. I just don't see them saying they will raise the zeros from the nominal rate, this would cause a run on the dinar. They won't announce anything about that until it is done. All these articles are politicians wanting their names in the news when something good does happen. It's all political jibber jabber.

Bump

Smoke maybe? Mirrors maybe? Hopefully smoke and mirrors?

because they agree to disagree

One time coming home from New England on the Palasaides pkwy I listened to an ENTIRE flyers game. The game started about 12 miles from the Tappanzee bridge and ended at exit 166 on the Garden state pkwy. One whole game over the course of 30 some miles. Thank god the flyers were playing the rangers and I could listen or I would have gone nuts. Also grateful I had a full tank of gas before the start. Gotta love the parkway.

Just stay away from Jiffy June.

I hate to say it but the words say lop, let's hope they are wrong.

Looking forward to reading your research. Thanks.

Bump

That's what I get out of it. Doesn't sound great to me. Better than just a straight lop but not great, for sure.