Good News about deleting Zeros

[lotsofdinar]

Well, TQ, it's never been done that way before, but I guess there is a first time for everything.

[TQueezy]

Well, TQ, it's never been done that way before, but I guess there is a first time for everything.

Gasp! Did I just turn you into an RV believer?!

[WTX_Danny]

One past article c.b.I. states a 50 dinar note is equal too 43.oo dollars. 100 dinars. Then would be 86 dollars 1 million equals 860ooo thousand

Please lead me to said article.

Thanks

[TQueezy]

Please lead me to said article.

Thanks

/whispers "Someone please rickroll him!"

[WTX_Danny]

I highly doubt what you just said is entirely accurate. That would be illegal, immoral, and obviously unacceptable for anyone going through that process. There would be riots. Prove that's exactly how it's done. Get an expert economist (like Shabibi) to prove that's the way it's done exactly, and I will concede to that. Otherwise, it's bullsh it. Countries legally have to honor the face value of the banknotes they release into circulation. Look it up.

Everything you wanted to know about re-denominations but were afraid to ask. http://www.unc.edu/~lmosley/APSA%202005.pdf

I havent read it in a while but it may answer some of your questions.

[TQueezy]

Everything you wanted to know about re-denominations but were afraid to ask. http://www.unc.edu/~lmosley/APSA%202005.pdf

I havent read it in a while but it may answer some of your questions.

I've read this article, but Iraq is not like any of the other nations that went through hyperinflation and a struggling economy. They have vast amounts of wealth that are not publicly reported, they are under an artificial program exchange rate for their currency due to outside controls asking for stability in their economy (IMF, World Bank, UN regulations, etc.). Iraq is looking to other countries' re-denominations to get an idea of what had worked, supposedly, for them, and how they will design their own novel solution to their unique economic issues, namely that they have too much money reported on the books and again, supposedly, in circulation, and the forced value of that currency is too low and needs to be raised.

[Francie26]

their just bringing in the notes with 3 zeros on them and then they will raise the value of the new notes maybe a little higher than one usd.They are not deleting crap!!

hahahaha Sorry, guys. But I can see the tempers rise in these comments, and I have this visual of all these guys getting their dander up as they sit, each one alone and hovering over his own computer screen, probably in his tee shirt and shorts, getting red in the face and angry, and typing furiously to fight off the opinions of the others, who by the way, are hoving over their computers doing the same thing. hahaha

[TQueezy]

Everything you wanted to know about re-denominations but were afraid to ask. http://www.unc.edu/~lmosley/APSA%202005.pdf

I havent read it in a while but it may answer some of your questions.

In that article:

Since 1960, governments of developing and transition economies have redenominated

their currencies on approximately seventy occasions. These redenominations generally involve

reducing the value of the currency by a factor of ten. For instance, in January 2005, Turkey

replaced its currency (the Lira) with the ìNew Turkish Liraî (YTL), with a conversion rate of one

million old lira to one new lira.

This in no way describes what Iraq is going through. They are not going to reduce the value of their currency. They state in these articles that come out that want to INCREASE the value of the currency. You can't do that with a redenomination.

Case F-ing Closed. Go away.

[George Hayduke]

OK now what? Lifting, raising, deleting, increasing or? The older currency is known as the 3 zeros, they are "removing" them or deleting, or lifting or raising,,,period.

No Lop,but feel free to erase the zeros off your bills.

I'm a-walkin' in the rain

Tears are fallin' and I feel the pain

Wishin' you were here by me

To end this misery

And I wonder

I wa-wa-wa-wa-wonder

Why

Ah-why-why-why-why-why lop ran away

And I wonder where lop will stay

My little runaway, run-run-run-run-runaway

A-run-run-run-run-runaway...

Del Shannon the original Dinarian

[brandedbabe]

You know that a lot of the time they take quotes directly from Saleh and Shabibi about redenominating. When that happens you normally have two currencies co-existing at the same time....the older currency holds the same value, and the new currency carries a higher value. In the marketplace they have two prices listed...one in the old currency, and one in the new....

Glad your here Keep something has been bothering me about having two Dinars in circulation..

I will give the lower demons a value of 1dinar-1usd for my thought process....So they have said two currencies co-existing which is not two complicated considering the markets are already priced for the dollar. Here is the problem I am having....right now the dinar is backed by the CBI reserves (60 billion) and that is what give us the exchange rate of 1166. The CBI bank has stated an massive amount of hard currency amounting around 30 trillion and if you remove "000" off those notes you essentially have 30 billion. Now lets say they print the Newer dinar what is backing this currency? It essentially has to have a hidden backing of reserves if they are looking to replace the currency we hold...even if its a two year plan.

Here is what I mean....

30 trillion dinar -60 billion reserves.

Then they have to add a currency and give it power through reserves before introducing it in circulation in order to dedollarize the country.

So they print 30 billion new lower dinar....what gives it spending power?

This is how it was explained to me through a family member who has worked for government....its not possible. Their would be three currencies Co existing in your scenario....because you can't forget the dollar. You can't add without subtracting. My family member said their would be an exchange from our dinar to the lowers that are part of the 30 trillion they have printed and being held most likely in the U.S.

This is h

[WTX_Danny]

Case F-ing Closed. Go away.

Nice - you're a real winner. Good luck in life.

[TQueezy]

Nice - you're a real winner. Good luck in life.

Haha, don't take it personally man. I'm just sick of the confusion on this. And really... how does anyone know what's absolutely going to happen? You don't. I don't , that's for sure. I understand your response to my negative and insulting statement. But I'm just fed up with all the arguing over something that isn't being explained to us correctly in the first place, and what people are so adamant about is really not something they are understanding properly. Sorry to be so mean.

[MrFnHappy]

Lol no it doesnt

JW, I'm really not looking for an argument, but I'm asking honestly, how do you take away anything other than RD from this particular article? Can you explain what you see here that says otherwise?

Iraq is working on a project to delete the zeros from the currency...

Read more:

[Stryker365]

JW, I'm really not looking for an argument, but I'm asking honestly, how do you take away anything other than RD from this particular article? Can you explain what you see here that says otherwise?

No your not looking for an argument but yet you pop in every time you see a chance to start your RD crap.

Take your Lop glasses off and you could see it.....why would you need it pointed out anyway...you already have it figured out....

[MrFnHappy]

No your not looking for an argument but yet you pop in every time you see a chance to start your RD crap.

Take your Lop glasses off and you could see it.....why would you need it pointed out anyway...you already have it figured out....

I politely asked a reasonable question (which wasn't directed at you), based on what the article states....I didn't start the RD crap, the article did, and you jump in with snide remarks instead of reasonable debate.

Edited February 3, 2012 by MrFnHappy

[WTX_Danny]

Haha, don't take it personally man. I'm just sick of the confusion on this. And really... how does anyone know what's absolutely going to happen? You don't. I don't , that's for sure. I understand your response to my negative and insulting statement. But I'm just fed up with all the arguing over something that isn't being explained to us correctly in the first place, and what people are so adamant about is really not something they are understanding properly. Sorry to be so mean.

I don't take it personally. No one seems to know whats really going on over there and emotions run a little hot over here at times. I wonder sometimes if they even know whats going to happen. I sure don't know what's going to happen with all of this I just know what I want to happen and what I don't want to happen. Good luck !

[Alex38]

I politely asked a reasonable question (which wasn't directed at you), based on what the article states....I didn't start the RD crap, the article did, and you jump in with snide remarks instead of reasonable debate.

Oh boy... and again: "and would raise the exchange value of the dinar against the U.S. dollar"

[Stryker365]

I politely asked a reasonable question (which wasn't directed at you), based on what the article states....I didn't start the RD crap, the article did, and you jump in with snide remarks instead reasonable debate.

Tell me how the article started the RD crap?...Its my opinion you did....and I'll jump in any time I want too..

[Tirebiter]

hahahaha Sorry, guys. But I can see the tempers rise in these comments, and I have this visual of all these guys getting their dander up as they sit, each one alone and hovering over his own computer screen, probably in his tee shirt and shorts, getting red in the face and angry, and typing furiously to fight off the opinions of the others, who by the way, are hoving over their computers doing the same thing. hahaha

Uh, I'm not wearing any shorts.

Anyway, back to the article and opinions at hand. This is the same debate that rages on almost every article. I'm hoping we will all know soon enough. In the meantime, I'm just glad there are articles to evaluate, discuss, and debate as opposed to hype. Although, I'd be less than honest if I didn't say I'd like the hype to be right despite how skeptical I am of it.

[SgtFuryUSCZ]

Del Shannon the original Dinarian

***///

[Stryker365]

Oh boy... and again: "and would raise the exchange value of the dinar against the U.S. dollar"

Your right Alex....and here's another one;

"the central bank steps to remove the zeros of the Iraqi dinar, a bold and would raise the exchange value of the dinar against the U.S. dollar."

Shabibi has said the word remove several times and its my opinion that he is saying they are going to remove them from circulation... not lop them....take a pair of scissors and cut them out of the banknote...

Be careful he'll go running to the mods....and tell on you...

Edited February 3, 2012 by Stryker365

[MrFnHappy]

Oh boy... and again: "and would raise the exchange value of the dinar against the U.S. dollar"

Alex, as I have pointed out before, if you research any countries RD you will find that whatever amount of zeros that gets removed from the currency also gets removed from the exchange rate. Naturally this brings an increase in value to the currency, but you possess less of the currency.

The term for the net result is "revenue neutral".

[Tirebiter]

I just have a question that possibly you folks who are way smarter than I can answer. Why would anyone ever invest money in Dinar and this speculation if they thought it would either LOP or be a straight redom of 25k notes becoming 25 notes with the exchange value equally reduced? It makes no sense to ever purchase a single Dinar if this is someones belief. This is a currency investment risk, plain and simple. There are no guarantees. But why would anyone purchase it before doing research and decide it is worth the risk and leap of faith?

[Stryker365]

I just have a question that possibly you folks who are way smarter than I can answer. Why would anyone ever invest money in Dinar and this speculation if they thought it would either LOP or be a straight redom of 25k notes becoming 25 notes with the exchange value equally reduced? It makes no sense to ever purchase a single Dinar if this is someones belief. This is a currency investment risk, plain and simple. There are no guarantees. But why would anyone purchase it before doing research and decide it is worth the risk and leap of faith?

Exactly Tirebiter...it really makes a person wonder what their motives are....I think they are trying to convince us to give up....

Not all of them...I think Keepm is the most honest of them all...he really wants the best out of this but a few just keep trying way to hard to convince people that this is a losing proposition.....period.

[keepmwlknfny]

Glad your here Keep something has been bothering me about having two Dinars in circulation..

I will give the lower demons a value of 1dinar-1usd for my thought process....So they have said two currencies co-existing which is not two complicated considering the markets are already priced for the dollar. Here is the problem I am having....right now the dinar is backed by the CBI reserves (60 billion) and that is what give us the exchange rate of 1166. The CBI bank has stated an massive amount of hard currency amounting around 30 trillion and if you remove "000" off those notes you essentially have 30 billion. Now lets say they print the Newer dinar what is backing this currency? It essentially has to have a hidden backing of reserves if they are looking to replace the currency we hold...even if its a two year plan.

Here is what I mean....

30 trillion dinar -60 billion reserves.

Then they have to add a currency and give it power through reserves before introducing it in circulation in order to dedollarize the country.

So they print 30 billion new lower dinar....what gives it spending power?

This is how it was explained to me through a family member who has worked for government....its not possible. Their would be three currencies Co existing in your scenario....because you can't forget the dollar. You can't add without subtracting. My family member said their would be an exchange from our dinar to the lowers that are part of the 30 trillion they have printed and being held most likely in the U.S.

This is h

I know what your saying cause I have thought the same thing....the only thing Im not sure of in this kind of scenario is exactly when the NEW dinar would carry the higher value. One member here that lived in Turkey during their redenomination was stating that the NEW lira didnt get the higher value until AFTER the exchange process was complete....I believe that was set for a year long period to exchange. But at the same time, there was evidence supporting the fact that as soon as the NEW lira was introduced it had its higher value.

In order for the NEW currency to make its way out into the world, it has to be exchanged for with the older currency so as your turning in larger bills for smaller, you are cutting the money supply down one bill at a time. I dont believe that the NEW currency is a liability for the central banks until it is actually "issued" by exchanging. Does that make sense??