Old article, but good read....from another site

[TonyDownTheShore]

They actually did.....at least Turkey.....thats why they also sold and still do sell USD at their auctions to stabilize the exchange rate/inflation just as Iraq....

Im sorry I do have to chime in and say how funny it is that even the article states other countries that replaced their currency in the same context, goes on to list countries that lopped, but then someone adds in the end that this is not a lop and that Iraq is in its own category.....

Yes Iraq is a different country, but there is one thing that all these countries share that puts them in the same category and that puts them in the same position to lop.....hyperinflation, low purchasing power, inflated money supply, and a secondary currency being used because of the lack of confidence in its own....

When I first got into this, everyone understood deleting the zeros was bad and that it was a lop....now over the years that the deleting the zeros has become more frequently talked about, its been turned around and twisted anyway possible to be something good, almost as a way to keep sales up....

They dont need approval for a RV, your right.....but thats not what this is talking about....they do need approval to change the currency....

I agree with you, but I was trying to make a point that CBI can rv at any time with or without new denoms, and the article also states that when the new demons come out they'll be in ciculation hand in hand.

[dvforumuser]

I'm so sick of these idiot lopsters that don't have a clue as to what they're talking about. If you're so concerned with a "LOP" which is a fictional word, then open up a damn Warka account and put your dinar in electronic form so it can't be "lopped." This country has stated numerous times they intend to raise the value when they "remove the zeroes." Can you moron lopsters imagine the civil war they'd start between the Iraqi people when one neighbor who put his money in the bank gained millions in wealth and the other who kept cash got bent over? Just use some common sense.

What? An RD (by all means lets stop using "LOP") treats everyone and every transaction exactly the same. No one gains or loses anything no matter if you have physical cash, a bank account, are paying a loan, are getting loan payments, etc. All the same values remain and are just expressed in a new unit (i.e. new currency). So no conflict of any sort.

Contrast that to an 1000:1 RV. Say two guys each save up 5M IQD to each buy a used car. One manages to make a decision and buys before the RV, but the other one waits a week and a 1000:1 RV happens before he buys. So now they both started with 5M IQD, and now one has a car worth 5,000 IQD (or 5,000 USD) and the other has 5M IQD now worth $5M USD. One guys life is no better off at all and the other guy is set for life. Yea, no conflict there.

Edited February 19, 2012 by dvforumuser

[Stryker365]

You might want to check your sources again, considering both Turkey and Russia had serious issues with dollarization before they made their currency change.

"Dollarization in Russia increased rapidly during the early 1990's, but failed to come down in the second half of the 1990's in spite of exchange rate stabilization." - Link (IMF)

"Turkey is still among the most dollarized economies and, despite significantly improved inflation expectations, reversing this currency substitution has been limited." - Link (IMF)

Come on you guys really, you really don't know what I meant by my statement, wow.

We all know the USD is in almost every country in the world and is used throughout the world.

Ok, did the United States of America enter either of these countries, take over their monetary structure?

Take all of their countries currency out of circulation?

Exchange it with the USD?

Was the USD used as the stabilizing currency alone?

Then print new currency for them and exchange it?

Do we none economist know what we are talking about when it comes to this subject?

I do know this, this is the first time in History this has happened just like this and Iraq is the only country I know of that has the resources they do under these circumstances.

The USD as far as any of us knows can have a lot more of an impact on Iraq then any of us know. I guess you found holes in my statement to use against me, good job. I should have been clearer in my wording for those that have hard time thinking for themselves.

[TonyDownTheShore]

Come on you guys really, you really don't know what I meant by my statement, wow.

We all know the USD is in almost every country in the world and is used throughout the world.

Ok, did the United States of America enter either of these countries, take over their monetary structure?

Take all of their countries currency out of circulation?

Exchange it with the USD?

Was the USD used as the stabilizing currency alone?

Then print new currency for them and exchange it?

Do we none economist know what we are talking about when it comes to this subject?

I do know this, this is the first time in History this has happened just like this and Iraq is the only country I know of that has the resources they do under these circumstances.

The USD as far as any of us knows can have a lot more of an impact on Iraq then any of us know. I guess you found holes in my statement to use against me, good job. I should have been clearer in my wording for those that have hard time thinking for themselves.

Well said Stryker, this situation is something that has never happened before and maybe never again, we're part of history in the making, someday we as investors may be in the history books.

[zigmeister]

Generally, I don't pay much attention to the pumpers and gurus. It would be much appreciated if you were to keep your LOP obsession to yourself.

It is amazing to me these people think we live and breath for any intel from the guru pumpers that we make fun of everyday. Not all but for the most part, most of them. Ha ha ha! Save us from guru quick sand! Let's sell our dinar and head to the bunkers my friends because the dinar RD guru's told us so.

[J769]

Typical Stryker, he says something flat out incorrect and then blames others for not understanding what he meant when it's pointed out.

Nothing you said changes the fact that Iraq has an M2 of over 60 trillion, and that the CBI says that they're going to fix that by lopping.

[zigmeister]

They've been talking about the HCL since 2005, so since it hasn't happened should we assume they are not ever going to implement an HCL? Iraq takes forever to do anything, we all know that.

There are delete the three zero articles every month, all of them refer to the same thing, and not all of them are old or recycled.

We know the HCL has to happen. RD/RV does not they can go on their merry way. I am just saying from this article and the plan of 2005, they have not done anything. And somewhere in the interim some changes were made.

[J769]

It is amazing to me these people think we live and breath for any intel from the guru pumpers that we make fun of everyday. Not all but for the most part, most of them. Ha ha ha! Save us from guru quick sand! Let's sell our dinar and head to the bunkers my friends because the dinar RD guru's told us so.

For not believing it, there sure are a lot of people that repeat their lies. All of these statements originated with the gurus, see if you recognize any of them:

Delete three zeros means pulling big bills from circulation.

The UST has 4 trillion dinar.

The nominal value of the IQD is .00086.

GWB said the war would pay for itself.

They have to RV to get out of Chapter 7.

Once they pass the HCL they will be able to RV.

[zigmeister]

For not believing it, there sure are a lot of people that repeat their lies. All of these statements originated with the gurus, see if you recognize any of them:

Delete three zeros means pulling big bills from circulation.

The UST has 4 trillion dinar.

The nominal value of the IQD is .00086.

GWB said the war would pay for itself.

They have to RV to get out of Chapter 7.

Once they pass the HCL they will be able to RV.

Can you disprove these supported lies?

[TonyDownTheShore]

For not believing it, there sure are a lot of people that repeat their lies. All of these statements originated with the gurus, see if you recognize any of them:

Delete three zeros means pulling big bills from circulation.

The UST has 4 trillion dinar.

The nominal value of the IQD is .00086.

GWB said the war would pay for itself.

They have to RV to get out of Chapter 7.

Once they pass the HCL they will be able to RV.

A rumor is not necessarily a lie, it just hasn't come to fruition yet.

[HopefulTxn]

Take all of their countries currency out of circulation?

Exchange it with the USD?

Was the USD used as the stabilizing currency alone?

Then print new currency for them and exchange it?

What are you talking about? Take all of their currency out of circulation and exchange it with USD?

When did that happen? Paul Bremer was having 250 dinar Saddam notes printed and put into circulation just to keep their currency system moving. Link

Why would Bremer have done that if they were removing dinar from the system and replacing it with USD???

[hollywood7]

Carrello I don't think it's worth the time and effort to argue with lopsters, in my opinion it all points to an rv and I'm sticking to it.

Note ~ NOT A LOP ~

The following statements mentioned in the following articles are indirectly saying that all Iraqi Dinars with 3 0's will be Removed from Circulation. That would mean that the 25,000, 10,000, 5,000 and 1,000 dinar notes will, over time (gradually), be taken out of circulation. This is Not a lop. Time will be given to trade in the higher notes for smaller notes and eventually the higher notes will no longer be used and will be Phased out Completly. Also Iraq is in its own category apart from Turkey, Russia, Brazil and others who have actually lopped.

NUFF SAID

just a thought if they rd which they wont,if everyone iraq traded in all of there 3zero in for lower and just like that no lower denom's left,thats not going to work,so they need both in play peace dave

[seetrader1]

just a thought if they rd which they wont,if everyone iraq traded in all of there 3zero in for lower and just like that no lower denom's left,thats not going to work,so they need both in play peace dave

What? :unsure:

[zigmeister]

Can you disprove these supported lies?

Well lets look at George Bush....perhaps he did not state it, but his cabinet did. 2 people who should know....

Donald: Donald Rumsfeld said, in effect, that the war would pay for itself: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis – from oil revenues, recovered assets, international trade, direct foreign investment….”

My link

Paul Wolfowitz said: Economic failures of the US war in Iraq. Remember the Bush administration’s assertions that the Iraq war would pay for itself? On March 27, 2003, Deputy Secretary of Defense Paul Wolfowitz told the House Appropriations Committee that Iraqi oil would pay for the costs of the war: “We’re dealing with a country that can really finance its own reconstruction and relatively soon.” In a press conference on Oct. 2, 2003, Defense Secretary Donald Rumsfeld predicted: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis—from oil revenues, recovered assets, international trade, direct foreign investment—as well as some contributions we’ve already received and hoped to receive from the international community.”

My link

Might I add these two were not aids to the president at the time, running errands and going for coffee.

[dvforumuser]

just a thought if they rd which they wont,if everyone iraq traded in all of there 3zero in for lower and just like that no lower denom's left,thats not going to work,so they need both in play peace dave

This is not how an RD is done. A new currency is issued and both new and old exist in the market for a year or so. You can use either one. Merchants are required to accept both (they would certainly continue to accept dollars too). The banks will tend to give out only the new currency so over a period of a year or so the old one goes away and only the new one remains. Then after that year or so are up merchants no longer have to accept the old currency but the CBI will do so for another 8 years or so at lest. The new currency is composed of lower denominations and its value is proportionately higher. There is sufficient new currency to cover the old currency so there is no problem of "no lower demons left".

[TonyDownTheShore]

Well lets look at George Bush....perhaps he did not state it, but his cabinet did. 2 people who should know....

Donald: Donald Rumsfeld said, in effect, that the war would pay for itself: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis – from oil revenues, recovered assets, international trade, direct foreign investment….”

My link

Paul Wolfowitz said: Economic failures of the US war in Iraq. Remember the Bush administration’s assertions that the Iraq war would pay for itself? On March 27, 2003, Deputy Secretary of Defense Paul Wolfowitz told the House Appropriations Committee that Iraqi oil would pay for the costs of the war: “We’re dealing with a country that can really finance its own reconstruction and relatively soon.” In a press conference on Oct. 2, 2003, Defense Secretary Donald Rumsfeld predicted: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis—from oil revenues, recovered assets, international trade, direct foreign investment—as well as some contributions we’ve already received and hoped to receive from the international community.”

My link

Might I add these two were not aids to the president at the time, running errands and going for coffee.

You da man Zig.

[dvforumuser]

Well lets look at George Bush....perhaps he did not state it, but his cabinet did. 2 people who should know....

Donald: Donald Rumsfeld said, in effect, that the war would pay for itself: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis – from oil revenues, recovered assets, international trade, direct foreign investment….”

My link

Yea this is the same guy who said that the Iraq war could not possibly cost more than $50 Billion dollars. Gee only off by a factor of what, 40 or so?

[Shick]

That reply made my day over here in Afghanistan.

Leggo RV!

Hello Rubberband King, now I know that you may not be in the same area as my friend, Warren Glover, but he just got there about two week ago. He and I was in Iraq as soldiers in 2004. He is now a civilian working for a private firm, he went there as a mechanic, so if you happen to run into Mr. Glover tell him hello and thanks for the call my name is Barry Wendall Stewart. Thanks a million.

[Dinarduo]

Well lets look at George Bush....perhaps he did not state it, but his cabinet did. 2 people who should know....

Donald: Donald Rumsfeld said, in effect, that the war would pay for itself: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis – from oil revenues, recovered assets, international trade, direct foreign investment….”

My link

Paul Wolfowitz said: Economic failures of the US war in Iraq. Remember the Bush administration’s assertions that the Iraq war would pay for itself? On March 27, 2003, Deputy Secretary of Defense Paul Wolfowitz told the House Appropriations Committee that Iraqi oil would pay for the costs of the war: “We’re dealing with a country that can really finance its own reconstruction and relatively soon.” In a press conference on Oct. 2, 2003, Defense Secretary Donald Rumsfeld predicted: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis—from oil revenues, recovered assets, international trade, direct foreign investment—as well as some contributions we’ve already received and hoped to receive from the international community.”

My link

Might I add these two were not aids to the president at the time, running errands and going for coffee.

Thanks Zig, This thread needed that. It seems people are so quick to argue opinion, and restate the same things over and over, but you actually bring facts to the topic, and we are often educated by your posts. So many lose site of how large this situation is, and we forget that we are such a small piece. This plan has likely been in process for more years than most realize and it has obviously changed over time. I believe the US is a huge difference in the future of Iraq vs the other countries it is often compared to when talking about a RD, we are guiding and working with them, and of course their resources speak for themselves. This is a unique situation and many countries are set to benefit from how this unfolds. History is very valuable, but sometimes we learn from history not to repeat it! Thanks again!!!

[Sanssouci]

For not believing it, there sure are a lot of people that repeat their lies. All of these statements originated with the gurus, see if you recognize any of them:

Delete three zeros means pulling big bills from circulation.

The UST has 4 trillion dinar.

The nominal value of the IQD is .00086.

GWB said the war would pay for itself.

They have to RV to get out of Chapter 7.

Once they pass the HCL they will be able to RV.

The problem with you LOP gurus is that your thesis is wholly dependent upon an unshakeable belief in each "delete the zeros" article, as if it is your first article of faith that the CBI will do precisely as they say they will do.

[82Corp.]

It also shows how long they have been belowing smoke up are butt! They will RV when they are told to RV.

Edited February 20, 2012 by 82Corp.

[zigmeister]

Now the assertion they have RV to get out of Chapter 7....my opinion is no. Do they have to RV to get out of HCL....my opinion is no. But I do believe they have to have their ducks in a row before they can do anything. Provide stability and show signs they mean to keep it that way. They do seem to need to get out of Chapter 7 to play with the big boys, they need the passing of the HCL to bring the big boys over and begin doing business. So that is my take on that. Some may disagree....

Delete three zero's that is open to opinion again. Sometimes they refer to lifting ...... lifting for them is interesting. In most of the articles when the refer to a meeting that has changed, they say "lift" which means to move to another date. Something I have noticed of late.

I have no opinion of .00086, nominal value. I am not sure what you mean by that.....I don't read much of the guru stuff, but you must.

[dvforumuser]

The problem with you LOP gurus is that your thesis is wholly dependent upon an unshakeable belief in each "delete the zeros" article, as if it is your first article of faith that the CBI will do precisely as they say they will do.

So you do at least agree that the CBI IS saying, repeatedly, that they are going to RD. You might think they are not telling the truth, but that is what they are saying. Right?

[zigmeister]

Thanks Zig, This thread needed that. It seems people are so quick to argue opinion, and restate the same things over and over, but you actually bring facts to the topic, and we are often educated by your posts. So many lose site of how large this situation is, and we forget that we are such a small piece. This plan has likely been in process for more years than most realize and it has obviously changed over time. I believe the US is a huge difference in the future of Iraq vs the other countries it is often compared to when talking about a RD, we are guiding and working with them, and of course their resources speak for themselves. This is a unique situation and many countries are set to benefit from how this unfolds. History is very valuable, but sometimes we learn from history not to repeat it! Thanks again!!!

Thank you Dinarduo....I appreciate your support and thanks. And you are right on target, so my thanks to you. Iraq has a great opportunity. What I think they are dealing with, which is not a bad thing, it is actually understandable. There are some who are afraid of becoming monopolized, and loosing their cultural heart to a world that is pretty cruel. Kind of like the talent so great and gifted, yet so many waiting to take advantage. So do you leave behind the history or do you become part of the world of lights and applause....I feel this is the pull.

[JustNTime]

Well lets look at George Bush....perhaps he did not state it, but his cabinet did. 2 people who should know....

Donald: Donald Rumsfeld said, in effect, that the war would pay for itself: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis – from oil revenues, recovered assets, international trade, direct foreign investment….”

My link

Paul Wolfowitz said: Economic failures of the US war in Iraq. Remember the Bush administration’s assertions that the Iraq war would pay for itself? On March 27, 2003, Deputy Secretary of Defense Paul Wolfowitz told the House Appropriations Committee that Iraqi oil would pay for the costs of the war: “We’re dealing with a country that can really finance its own reconstruction and relatively soon.” In a press conference on Oct. 2, 2003, Defense Secretary Donald Rumsfeld predicted: “The bulk of the funds for Iraq’s reconstruction will come from Iraqis—from oil revenues, recovered assets, international trade, direct foreign investment—as well as some contributions we’ve already received and hoped to receive from the international community.”

My link

Might I add these two were not aids to the president at the time, running errands and going for coffee.

Way to bring out the BIG BOYS Zig! +1