Dinar was equal to the dollar!

[Sanssouci]

I honestly wish that it would jump to like 90 percent lol.....then it probly would make it easier to pull as much dinar in as they wanted to.....remove it all, come out with a brand new currency and allow a one to one exchange for USD.

I know I'm often a bit rambunctious with you, Keep, but maybe you can answer this question for me. Is there a time limit for a nation like Iraq to cease using a foreign currency like the US dollar, in place of the dinar, or can they just go on using it indefinitely? I know that when I was in Germany 20 years ago, the Germans would accept dollars, but we made a point of using Euro for the most part.

Edited January 16, 2012 by Sanssouci

[zul]

How can you reduce the supply from trillions to billions by exchanging old for new at a equal amount?? (Like giving ten 100 dinar bills for one 1000 dinar)

Keep,

No exchanging involves. The old and new will coexist. And over a period of time, CBI will :-

1. Remove all the 3 zeros from circulation (amounting to trilions of dinar).....

2. Retire those notes.

3. Transfer the value (of the retired dinar) to new currencies/denoms.

[Rudolph_the_Red]

Well, i'm new here. Despite finding it difficult to read through these translations, some questions come to mind. While of course i'd love an RV just as much as anyone else, this LOP talk doesn't seem out of reach. I'm not an economist, so I have no real say in what an LOP would do for Iraq's economy.. however, in all reality, bringing a 25,000 note to equal a 25 note seems feasible. Imagine a day where you were to go pay for something with a $100 USD bill, and they told you it was only worth $1. You refute such a ridiculous accusation, then you try again somewhere else. Same situation. Then you go to the bank, and they offer you a new $1 for your traditional $100 bill. You would be astounded, but what would you do? Especially if they told you in a few months your traditional $100 bill would become worthless and unusable? You'd have to give in and take the $1. It's just out of your hands at that point.

Again, I don't know what this means for the economy, but it seems logical if all they're looking to do is revise the numeric face value of the bills. Economically, I don't believe this would really change anything. If they're looking to put more value to the dinar to encourage more spending amidst Iraqi citizens, my first guess would be to raise the value of the dinar as it currently stands compared to products and services in the country. So instead of a meal hypothetically costing 25,000 dinar, it would all of the sudden cost maybe 1000 dinar.. and then progressively over time, it would cost 25 dinar. In this case, Iraqi citizens who have maybe 500,000 dinar saved, actually have more reason to spend rather than save and live sparingly. People who have businesses are selling more product or hired for more frequent service. The cost of imports are balanced to where the supplier is spending the same as they were before, but seemingly spending far less dinar.. so they are able to order more product to meet the demand. This, in my opinion, would encourage the spending of Dinar over USD more frequently as it is likely far more common there. At the same time, the banks could stop making the 25k, 10k, 5k, and 1k notes.. and request to pull them out of circulation over time by offering their value in smaller denominated notes. Somewhat like if I had a $100,000 USD note.. while it's no longer in circulation.. and seemingly worthless, its still recognized as 100,000.. and throwing out the fact that it's a collectors item.. if you went to a bank with it, there's a good chance they'd honor it and exchange you it's value in bills you could actually use as a consumer (since no one is going to accept a 100,000 dollar bill).

In any case, this is just what i envision in my mind. I'm not trying to stir up anything, just trying to get a better understanding for myself the logic of these decisions. If the ultimate change of the dinar has to do with economic growth, then an LOP really doesn't make sense to me (again, i'm not an economist.. so i really have no clue). But if all they care about is changing the face value of something.. then an LOP does seem realistic.

Any other thoughts? I really am curious to see what other realities there are to this without considering our own investment in the hopeful RV of the currency.

I strongly agree with this... I would love to see an RV of what some of the gurus say have happened for a 3:1. It is feasible in my mind but the only way it would happen is if they do RD or LOP first and force everyone to hand in the high denomination bills and then use lower bills. If it doesn't make sense to you, you can ask me for MY OPINION! (if you want to hear it)

[Miss Peg]

Ahhh, more riddles from Dr. Seuss and company!

I sincerely hope not!

[DetroittoAZ]

All of this propaganda and stuff seems like a RV to me!!!!!!

[Hawaii 50]

You guys read into things to to much. The Dinar will Rv it is not going to equal out to $21.50 per 25k note that's crazy. Lets buy all these del la rue machines and also use our own reserves oh and by the way let's also reduce the dinar on the streets and issue new notes then make them worth less than they have to be.

[kid4dinar]

IMHO.

They can not have lower denoms released without having an rv.

The deleting of the 3 000 currency must not be able to be used in the streets.

The larger denoms must be returned (retired)

No merchants will be able of exchangeing the 3 000 currency, for goods

The 3 000 currency must be returned at the banks and accounts and Bank cards will be promoted.

The people cannot and must not walk the streets with 3 000 currency.

They will be vulnerable to street thieves.

This is my 2 dinar worth

[SPRAYERDUDE]

Sounds like another RD article to me. Reducing the face value of the currency from trillions to billions (deleting the zeros) would bring the exchange rate pretty close to a dollar.

There are laws in place by the I.M.F. If Iraq truly wants out of Chapter VII, and have International Status and the World Trust they are seeking: They need a Transparent World Trade-able Currency. Until all Chapter VII sanctions are removed Monetary Change is useless. In my opinion if Iraq gets out of Chapter VII and even with the 30 trillion Dinars "with out a physical monetary change" the Exchange Rate will have to reflect Iraq's REAL VALUE "I Can Guarantee The Exchange Rate Will Be Greater Than .0009"

[lotsofdinar]

What remains of Chapter VII appears to have nothing to do with their currency. That's in the hands of the CBI and the reality of their situation.

Edited January 16, 2012 by lotsofdinar

[Traconesu02]

This same article was first seen around November 3rd of Last year.

http://coquidinares....stos-dinaristas

[yota691]

No MODS do not do anything with the dates, the dates are dates from the article. Some websites don't have dates on the articles, so there is no way of telling how old the article is unless you search for and try to find it on another website. If it is an old article, you can search for it on DinarVets using a key phrase and find out where it was originally posted.

-

This article came out Nov 2011.

[storehouse]

Economic News

Dinar was equal to the dollar!

Palm - Deputy Governor of the Central Bank of the appearance of Mohammed Saleh said that the bill included proposals for a new currency and the categories that bear and details of technical and economic.

Saleh pointed out during the permit media changing the currency and delete zeros decision taken by the executive and approved by the legislature, and that the project will not be implemented hastily, but will be taken a number of factors to consider before you start to implement it, including the date of the financial year and the strength of the national economy, among other indicators in the favor of the view that This law, if approved, will have a positive impact on the Iraqi currency in several aspects you need during the next phase, which will strengthen the value of the Iraqi currency.

He described the favor of a system of cash payments of the current Iraqi regime miserable, noting that the largest denomination in which value does not exceed twenty dollars, confirming that the deletion of zeros will enhance the value of the Iraqi currency, and reduces the cost of handling cash, The currency in its present estimated size of today Petrlionat dinars, making the process of dealing monetary cost is high.

And the concerns of rigging the new currency in the event issued or it will affect negatively on the economic situation, responded in favor: it reflects the look bleak, do not forget that there are other countries in deciding to switch its currency and dropped them zeros, such as Turkey, Romania and Brazil without being its economy to shocks and thus Iraq is not unknown or running water moving in path not knock him one before is likely to include the new currency for the inhabitants of a coin by the paper.

The increased zeros on the Iraqi dinar to the days of inflation, which came on the value of the Iraqi currency as a result of previous wars and the subsequent economic blockade was over, the currency of Iraq to the paper was printing the former regime, issued in large quantities without a cover, while the Iraqi dinar until the mid-eighties equivalent of more than three U.S. dollars.

But the adviser to Iraqi Prime Minister for Economic Affairs Abdullah Al-Hussein Anbuge said in a press statement: that the rampant corruption in state institutions and the low level of efficiency and economic situation in general in this time is not in favor of lifting the zeros.

He pointed to what he said about it bumps will change the currency and delete zeros, including the risk of fraud and increase the demand for goods causes a fake due to payment of dinars instead of a thousand dinars, as now, explaining that the re-printing of new currency will have the costs of expensive, adding that attempts will be made to persuade the Bank Central to wait in his plans in this regard.

Previously Chairman of the JSC confirmed that Iraqi, earlier, to delete the zeros of the Iraqi currency will not affect the circulation of the Iraqi Stock Exchange and its shares

The director of a money transfer companies abroad Sami Rashid: I think that the lifting of the zeroes from the currency will increase confidence in the currency, and will lead to increased purchasing power of citizens, and will drop the phenomenon of trading blocs, the large cash used by the Iraqis since the nineties.

He believed economic analyst Talal Jassim said the switch of the Iraqi currency a necessary but pointed to the need to provide the conditions necessary for its implementation, particularly the security and political stability, adding that the relative stability of the Iraqi currency after the issuance of currency recently, and the result of the return link Iraq to the global economy and the availability of reserves of foreign currency due to oil exports , encouraged the central bank to consider deleting the zeroes.

Jassim added that lifting the three zeroes will lead to an exchange rate of one dollar per dinar to where Jassim called to the need to follow the policies of peaceful citizens to convince them and get a feel for a period not exceeding two years.

http://www.nakhelnew...s.php?nid=11181 No date on it so I can't tell u how old this is.

Patience (or forbearing)is the state of endurance under difficult circumstances, which can meanpersevering in the face of delay or provocation without acting onannoyance/anger in a negative way; or exhibiting forbearance when under strain,especially when faced with longer-term difficulties. Patience is the level ofendurance one can take before negativity. It is also used to refer to thecharacter trait of being steadfast. Antonymsinclude hastinessand impetuousness.

[Traconesu02]

This article came out Nov 2011.

Yes - This is old news, I am not sure why people want to get into such discussions over news that has been out for over 2 months.

http://coquidinares.forumotion.com/t8223-ultima-horablufenixpara-todos-los-supuestos-dinaristas

[Luigi1]

Now vote...damn it, vote.

[wookie]

One theme remains consistent...they continue to say this will take two more years.

[George Hayduke]

"I Can Guarantee The Exchange Rate Will Be Greater Than .0009"

Well, it's better than nothing...