Central Bank plans to launch three categories after deletion of zeros from the Iraqi dinar

[patriotic party girl]

Look, I have been trading currencies for over 35 years, back BEFORE we had computers. I have been teaching other doctors how to trade currencies for the past 3 years. I have many friends that are FULL TIME currency traders on Wall Street.

I have seen this type of deception on many occasions, especially when it comes to trend trades.

What amazes me is that there are now auto mechanics, flower shop owners, bus drivers, etc, that are all of a sudden currency "experts" because they hold dinar. Yet, they have NEVER traded a currency in their life nor would they even know how.

All along I have told you what I know to be true, that's it and this much is true...I have seen this deceptive play many times before.

I am not attempting to rip on anyone, I am simply saying to keep a level head when it comes to "news."

Dr. J

This is why i wanted your op on this article i have been following you on here and love to read your thoughts on this investment i truly trust in what you have to say about this and thanks for always taking the time out to comment i look forward to all of them

[k98nights]

It was the wholly insincere "apology" he gave last night.

How about we just lay off the personal attacks. I'd like to leave this post open. It's the most interesting story out there today... but if the comments degenerate into a bunch of BS I'll lock the topic.

[patriotic party girl]

PPG, I would like to ditto that.

Nice to see you on the other-end-of-the-stick, so to speak.

:lol: Yes i have been taking a small break again ,love this article

[Stryker365]

They are saying it will be equavilent...to what they are now....why are you still waisting your time....when you supposedly sold all your dinar????

He is like my ex-wife, the kids from her are grown and out on their own and she is still a pain in my______(well you know what)........see you can type without cursing.........where are those cursers anyway..........just kidding there K98nights..........I'm glad someone slept in this morning.......have a good one my friend!!!.... :lol:

[hi-five]

I understand that this could be a lop. But, I have a question concerning the "mafias currency" - - -

"The central bank was charged in (12 September 2011), government agencies of obstructing monetary reform and vowed to sue, blaming the authorities responsible for exposing the financial interests of the country to danger.

He said an adviser to Prime Minister for Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering with the economic, warning of "mafias currency" is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes."

Why would counterfeiting matter so much if Iraq was going to lop?

[k98nights]

..........I'm glad someone slept in this morning.......have a good one my friend!!!.... :lol:

I ain't getting no younger these days and all this 5AM stuff gets to me sometimes, lol

[Stryker365]

It was the wholly insincere "apology" he gave last night.

Oh that's right.... no big deal, I took it to be the same but I also can't fix the crappy drivers that run us off the road either!!,......... I just wanted to give them a little of their own medicine.......its all good until someone gets their feelings hurt.......that's what I tell my kids anyway.

Lets focus on the positive..... :D

[jetphyxr]

Not to say after the fact but I am surprised it is still going...I look at it the same way I did at 4:25am. There's nothing I can do to change it!

[Wheeler]

No, sir. We interpret these articles as smoke.

For years people have been saying (and still are saying) that delete the three zeros = RV, so, no, plenty of people are still interpreting these articles as good news.

[lotsofdinar]

"For years people have been saying (and still are saying) that delete the three zeros = RV, so, no, plenty of people are still interpreting these articles as good news."

So Iraq IS telling folks they are going to RV through these articles?? This is getting kind of confusing.

[k98nights]

"For years people have been saying (and still are saying) that delete the three zeros = RV, so, no, plenty of people are still interpreting these articles as good news."

So Iraq IS telling folks they are going to RV through these articles?? This is getting kind of confusing.

It's one of those wait and see kinda things.... which we've all become experts in doing since 2004, lol

[k98nights]

Again, as per Dr. Sinan al-Shabibi: "If I knew, I cannot tell you."

Right... and I believe that means that anything you see in the Iraqi media about it is not to be trusted.

[lotsofdinar]

I'm hoping everyone sticks around after Iraq finally does whatever it is they are going to do. Then we can have endless discussions arguing why we think they didn't do whatever it was they actually did!

[jmw]

I'm hoping everyone sticks around after Iraq finally does whatever it is they are going to do. Then we can have endless discussions arguing why we think they didn't do whatever it was they actually did!

they'll still call it smoke... :lol:

[Wheeler]

I myself would like an answer to that question from one of these negative Nancys.

For one, in the US, the hundred isn't the most counterfeited bill. It's the 20. Since the 25,000 bill is worth MORE than our twenty, it stands to reason that they'd be worried about people counterfeiting.

But the real main reason (and this has been explained on DV before), is this:

In the US currency is counterfeited. This currency is put into the money supply. It's spent, maybe once, maybe twice, maybe ten times, but it is ALWAYS eventually caught, either by a bank or a retailer, and then it is REMOVED from the money supply. If you try and deposit a counterfeit 20 in the bank, that you got in change from somewhere, and the bank catches it, they don't take it and give you a real 20 in exchange. You just lose it, you're out 20 bucks, and that 20 bucks that shouldn't be in the money supply, has been removed.

In Iraq, if there's a lop, there's a big problem if theres counterfeiters. Their money supply, during a lop, ends up getting completely replaced. Your 25,000 note gets replaced with a 25 note. That means that if (when) someone sneaks a counterfeit 25,000 bill past a bank employee, that FAKE 25,000 bill was now been replaced with a REAL 25 note. That 25 note is real. It cannot ever be removed from the money supply, like would happen in the US. That counterfeit bill has PERMANENTLY increased Iraqs money supply.

Counterfeiters would go INSANE during a lop, because there will be TRILLIONS of dinar being exchanged, and all they have to do is get a little lucky with a tired or lazy or incompetent banker (or pay a banker off, we all know there are corruption problems in Iraq) and now instead of a stack of fake 25,000 bills (probably with real ones mixed in to help them sneak by), they've got a stack of REAL 25 bills. And the CBI is stuck with the bill, because the money supply has permanently increased due to the counterfeiters.

they'll still call it smoke... :lol:

To be honest, if it lops, once it's confirmed it wouldn't surprise me if a lot of the dinar forums were shut down within a day or two. Or they'll all jus be converted to dong forums, or whatever other currency the gurus feel like lying about.

[machcobra]

One thing to ponder here and appears all have overlooked this. Think about it, they talk about years to get all the money back in. Why would they do that? IMO they would not. This is the smokiest of the smoke so far and it feels good. They will simply have a time limit just like they did in 2003. 30 days, 90 days, 6 months? Who knows but again it would be really stupid to wait years when they can have it done fast and if you don't turn in you lose. To simple huh?

[Biker]

I my self am so sick of there bulls*** i cant stand it. Like i always say talk talk talk and no action. We can certainly tell there all related to Obama. Iran is not any different they talk trash and no they cant back up what they say. Idiots every one of them.

[SSI]

I myself would like an answer to that question from one of these negative Nancys.

I'm not negative or a Lopster, so bear with me...

I always thought the counterfeiting was significant due to the fact that they aim to significantly reduce the money supply (not value) and that counterfeiters could significantly increase it. Just my thoughts.

[Elixirbaby]

How about we just lay off the personal attacks. I'd like to leave this post open. It's the most interesting story out there today... but if the comments degenerate into a bunch of BS I'll lock the topic.

I would rather see someone put on mod reveiw than lock this topic. It's a great article. Thanks Knight

Go RV

[jetphyxr]

One thing to ponder here and appears all have overlooked this. Think about it, they talk about years to get all the money back in. Why would they do that? IMO they would not. This is the smokiest of the smoke so far and it feels good. They will simply have a time limit just like they did in 2003. 30 days, 90 days, 6 months? Who knows but again it would be really stupid to wait years when they can have it done fast and if you don't turn in you lose. To simple huh?

Sorry...getting past the Cougar Life thing-a-ma jinger...I've heard many opinions on the a "possible" timeline. They will call the shots. Too simple to lose. They will have their HCL funds in plastic. Yes it will be simple. Count our blessings!

[Carrello]

Now thats funny, did you see I answered your other post on that other thread, can't remember the name of it right now.

Oh...it looks like someone got their feeling hurt.........I'm out of here.........they can put it out but can not take it........go figure

I've got one word.....adios

[zigmeister]

I understand that this could be a lop. But, I have a question concerning the "mafias currency" - - -

"The central bank was charged in (12 September 2011), government agencies of obstructing monetary reform and vowed to sue, blaming the authorities responsible for exposing the financial interests of the country to danger.

He said an adviser to Prime Minister for Economic Affairs (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if it was during this period, and fall under the name of tampering with the economic, warning of "mafias currency" is preparing to rig the trillions of Iraqi dinars to replace them in the light of the planned changes."

Why would counterfeiting matter so much if Iraq was going to lop?

hi five CBI did indeed vow they would sue, apparently this is a reminder to Maliki. I suspect this is the debate going on that may have prevented an RD or even an RV. Also CBI really wasn't ready for either to take place, so it was placed on the burner.

Having said that, this article does scream RD, there really is no way around it in my opinion, unfortunately. I really feel their motivation and why they are educating people about the new currency, is it will be without zero's, it will have their language and their design it will no longer remind them of their shattered past from the Saddam era, and the US will not have been the architects of this currency. It will be Iraq s, a sovereign nation. They make the new currency so inviting the people may welcome the new currency. They just might. I think CBI is counting on they will want their Independent currency more than the dollar, especially if it is the same value.

However, why the concern of money tampering in the exchange? Especially when the new currency in the beginning may be the same exchange rate as the old. With or without the zero's dangling in the wind, the exchange would be straight forward. Another thing I might add, in researching re dominations, no country that went through this procedure seemed to be concerned on such a matter as money laundering, any way that I could find, why is Iraq?

I also think they are lying about the time period to exchange, ten years is a long time to let people get around exchanging new for old. Especially if they are concerned about money laundering. No it will be quick imo, as quick as a sudden three days as some countries have done, some one day.

Somehow there is a sliver or piece they are not advertising anyway for me, why the concern? My guess because there is a concern and a probability. So with that in mind, clinging on the piece that is not printed but implied. Is Iraq going to RD? I will be believe it when I see it. Is Iraq going to RV, I believe it, now I see it. Just my two cents.

[Carrello]

Nurse Cratchett never went away, she just went into hiding.

My good friend, Shelley, has informed me to lay off the Kahlua Coffees in the morning, and it is Ratchett, not Cratchett.

[machcobra]

yes it does make the lopsters high, that glue will do it lol.

[the wolf]

I'm not negative or a Lopster, so bear with me...

I always thought the counterfeiting was significant due to the fact that they aim to significantly reduce the money supply (not value) and that counterfeiters could significantly increase it. Just my thoughts.

could it be that the counterfeiters have invested a lot in counterfeiting the current currency and since they will be replacing it they won't be able to counterfeit the new currency for some time. So it would seem they would try to take advantage of the exchange process as much as they could before they have to start all over again. I think they are also worried about them taking advantage of Iraqi's that don't fully understand the redenomination process. I always thought the current dinar was supposed to be very difficult to counterfeit.