JustLooking79

I'm quoting this post from another member because it got glossed over by everyone but it is important. What three zeroes did your contact believe were removed? That will make a huge difference. An RV + RD is pretty hope dashing considering most won't even break even.

Absolutely. An RD/LOP is my biggest worry so I would love to see a debate on the topic along with actual facts or evidence for both sides of the argument.

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That is a massive amount of dinars in circulation. The last number I heard was 29 trillion and I thought that was a lot. With a number like 59 trillion, doesn't that make it appear that an RD is even more inevitable than a straight up RV? That definitely worries me. What would be the alternative way to repair things in order to have an RV instead of an RD when you have such a high amount? To retract as many notes as humanly possible from circulation? I just cannot imagine having a straight up RV at this point with that much in circulation without the dreaded RD. I would be grateful to anyone who can explain things to me if I am seeing things incorrectly but I just don't see how we could RV at even a 1:1 average rate for the investors throughout the world.

Once again, thank you to everyone for their responses. I'm truly hanging on to every ounce of information that is provided and am extremely grateful for the time you are taking to educate me. To be honest and at the expense of sounding ignorant, I'll admit I do not 'understand the implications of this move and what it would do to Iraq.' Would you mind taking a moment to explain it to me if you are willing? I would love to hear your perspective. I was under the impression this is something that would be beneficial to Iraq and would ease the burden of transactions instead of carrying around piles of cash. How would an RD be detrimental to Iraq? That gives me hope they would not RD if that is the case. And by their comment concerning learning a lesson from Turkey, I was under the impression they wanted to follow in their footsteps by removing zeroes. If you feel that actually means they want to learn a lesson from Turkey but NOT going down the same road as them, that would certainly be more comforting news. Could you explain that to me? I understand Turkey encountered several problems while eliminating the zeros but I'm not sure of what problems actually occurred. Thank you in advance for your time. I am curious as to how an RD could hurt them. Truly hoping we get a straight up RV without the RD but I just want to be aware. Yes, exactly. lol Me, too. I purchased 1,000,000 dinars a few months ago and have the second set of 1,000,000 dinars on its way. Then I read about the possible RD and lost a bit of confidence and some wind from my sails. So I do not plan on purchasing any more but will definitely be riding out the storm with whatever happens. I will just plop them into my safe to see what happens in the future. At this point I'm simply a bit anxious about a LOP as that seems to be the most possible punch in the gut but, as you said, looks like we're in it for the long haul either way. Thank you for your thoughts.

Thanks for all the opinions from both sides. Froto- I completely understand what you are saying. Some excerpts from my OP should show that I do understand and agree with what you say. We knew what we were getting into, nothing is guaranteed, the general official sentiment is more along the lines of an RD than it is an RV, I could see how an RD would be very beneficial for them and more logical, an RD does seem to be the road we're going down more than anything else, etc. But it is the other things that concern me and make me suspicious of Iraq's responsibility. I don't think it all rests on the shoulders of dealers (although you raise a good point that the hype rests on their shoulders). But I'm referring to the GOI's approval and encouragement of the investment in the dinar not to mention the auctions they hold and the amount they are printing and pumping. The list goes on and on to make it at least appear the GOI is behind it a bit. Obviously they will do what they need to do without worrying about what will be lining our pockets. But I am a bit worried they may be swindling investors with the part they are playing and I feel that is a fair concern even if others may feel it is unjustified.

Thank you for the insight. I was sitting here scratching my head at the reactions I received from posting this thread. Don't get me wrong- I completely understand the RD is a buzz kill. I just heard about the dinar and bought my first million a couple of months ago (so I am new to all this). Upon first reading about the removal of three zeros, my heart certainly sank at that possibility. Hence, this thread. I feel it would almost be a rip off on Iraq's part if they were to do such a thing to the investment in their currency that THEY approved and encouraged. So absolutely- I get the fact the concept of an RD is a downer. But at the same time, I would like to be reasonable and look at the possible outcomes, even if it is negative. I would hate to get my hopes up higher than they already are only for them to come crashing down at a possible scenario I was not willing to consider like an RD. So, yes. 'GO RV!!!' but at the same time, I would like to be educated on and prepared for all possible outcomes without getting flamed. I truly hope it does RV without an RD but I suppose time will tell. Fingers crossed. If not, I will lose a lot of confidence in investing in Iraq for the future.

What do you mean? Is this not the way a potential RD would occur? 1,000 dinars would become 1 dinar. The 25,000 dinar notes we hold would become 25 dinars. Assuming a 1:1 ratio, it would be $25. Then, let's say Iraqis are paying 1,000 dinar for a loaf of bread. The cost of a loaf of bread would now cost 1 dinar. So they remove 3 zeroes from both the notes and the cost of goods and services? If I do not know what I am talking about, please feel free to educate me. I am here to learn- not get into pissing contests or get snubbed by everyone here. I signed up because I thought this was the place to discuss and learn but so far I'm being met with nothing but rudeness and vagueness? Am I supposed to just be running around posting 'GO RV!!!!!' instead of asking questions or discussing scenarios?

Thank you. Hopefully a moderator can move this thread. I would really like to discuss this topic but do not want to get in trouble if I make the same thread twice. Apologies for putting this in the wrong forum. I placed it this forum because I thought my take on it was more 'personal perspective/opinion' than it was anything official about a LOP. As in, it was the way I personally view an RD- not that it is necessarily the way it will go down. Apologies if I committed a forum no-no.

What is bogus? The possibility of an RD+RV? I know that is not a very popular discussion but it is at least a possible scenario worth discussing. (?)

Hello everyone. Just joined and wanted to share something that has been on my heart. It concerns the possible removal of three zeros and placing the dinar closer to a 1:1 ratio with the US dollar. Although it would be the least desirable outcome for us investors, my gut is telling me that is the most likely and rational outcome from all this. But that is not what is really bothering me. First, let me get the following out of the way: 1). When I first purchased my dinars, I never really bought the hype of overnight millionaires or what not. However, I was leaning more towards a revaluation of the dinar going from 1/10th of a US cent to perhaps a dinar being worth about 10 cents (which would still be rather profitable!). Then with time, the value would increase the more stable Iraq became. Those who held on instead of cashing in would remain for the long term investment opportunities. 2). I realize that with all investments, there is a risk of things not panning out. Nothing is guaranteed and anything could have happened. If there was no risk or if investments were a sure thing, we'd all be doing it. So I wanted to get the above out of the way to show that I wasn't expecting an overnight miracle or that I was naive to think this was guaranteed. With that said, let me get to the point. The discussion and possibility of removing three zeros kind of makes me mad at Iraq or feel as if this was designed to 'grab the money and run' by the GOI. Let's assume for a moment that CBI's claim is true and they're not just trying to throw investors off the scent of an upcoming RV. How would it go for us? Two scenarios: BEST case scenario: All this turned out to be were big fat INTEREST-FREE LOANS for the GOI and we even paid for the finance fees for them (the brokers who sold us our dinars). We buy their monopoly money thinking it could turn into something one day, but it turns out they will just remove three zeros so we will be less than where we started after you deduct all the costs of converting our USD into dinars then back into USD from the dinars. WORST case scenario: All this turned out to be a big fat GIFT for the GOI if it is somehow set up that the dinars can only be converted in Iraq (which I am led to believe possibly happened last time (?). So if the zeros are removed, at best we gave Iraq a free loan and at worst we simply threw our money at them. Since they seem to hold most of the power concerning an RV and/or RD, it really feels as if they knew what they were going to do and kind of screwed over their investors. It vaguely reminds me of what they did to the Jordanians the last time when they used their dinars to purchase goods from Jordan, then Iraq declared the old dinar invalid, THEN closed borders and wouldn't let Jordan cash in their dinars. It would be like the US government coming into your store, buying hundreds of thousands of dollars worth of merchandise from you, then declaring the USD invalid and not allowing you to convert your USD into the new currency. So I am a bit suspicious of Iraq at the moment and am worried about this potential RD although I understand it is the most logical move.