Removing zeros from Iraqi dinar to start in September 20/02/2012 10:15

[Carrello]

Congratulations Mom and Dad. Happy Baby, Keepm.

[bamagirl]

nawty1 off the top of my head. But let's stop. There is too much fantastic news today to get caught up in this stuff. Truce. Slate wiped clean. Let's move on. I am. Better yet, where is my Ignore button. Ah, there it is.

Today is a FANTASTIC news day...good day to practice the happy dance!

[zigmeister]

Yea, I've sitting in front of the computer all day for work (at home happily), and the stuff I'm doing involves quite a bit of waiting at the moment, so easy to keep an eye on things! :-)

Maybe so, but I can always sell back to the DinarBanker if I have to at $900/mil. I have to be honest. I've already had one possible customer who after discussion changed his mind, and that's fine with me.

Apparently you mentioned the RD angle....good for you, it was honest.

[caz1104]

Yea, I've sitting in front of the computer all day for work (at home happily), and the stuff I'm doing involves quite a bit of waiting at the moment, so easy to keep an eye on things! :-)

Maybe so, but I can always sell back to the DinarBanker if I have to at $900/mil. I have to be honest. I've already had one possible customer who after discussion changed his mind, and that's fine with me.

Wish you the best

[genx4me]

Congrats Keep! Best of luck to you, Mom, and new baby girl. Wishing you the best. Give us an update when you can!! :D

[dvforumuser]

Wish you the best

Thanks, same back atcha. I've still got plenty for sale! Edited February 20, 2012 by dvforumuser

[Maggie123]

Awwww Keeps Tomorrow Will Truly Be One of the Biggest Day's of Your Life! I Am So Happy For You!

This is exciting! We want frequent and regular updates! Ya hear? Hugs To You, Momma and Baby.

[Darin]

There is opposition from Maliki and his gang, and according to their own laws, the govt has to approve of issuing a new currency but yet the CBI is talking as if its already been approved cause they are saying that the first stage is complete (buying printing machines and such)

But then we also get articles saying that the bill is still subject to being approved by parliament.....and I have not seen anything claiming that the bill was voted on and was officially approved.....

Thats what doesn't make any sense....

The good old media contradiction. What to believe, right? Sometimes, it appears difficult to find the facts. Your right! How can they claim it has been approved and they are in Phase 1 when we see opposition to the project all together.

Here is what I think: When I see remove the 3 zeros, we can all agree that the media is referencing a R/D. But, when we see that the GOI is against it, that means they're in favor for what we hope. They have the right to vote on passing a printing of new currency. They may only approve if it seems favorable. So, with the contradiction, either we are currently at a stalemate or the R/D articles are just media fodder to suppress speculation. Either way, it seems sometime in the near future we may find a conclusion to this mind throbbing puzzle.

[RV on my mind]

Can Someone explain to me how the article is even remotely good for us investors. I don't see this as being good at all. I'm starting to think that the pumpers are the ones I have trusted for a while now. You all know who your are, and for some reason this does not effect your attitude toward this investment at all.

[Darin]

Too many contradictions here;

The photo in the article shows new crisp banded notes. What about the recent articles stating that banks reject so many notes because they are so worn? How does 30 trillion= (26bn)? This is the first time the ISX is rejecting a CBI proposal that I can remember, and thats why I think this is a recycle....

Out of curiousity, do you by chance have links for those articles? I'm not trying to claim they don't exist, but I wouldn't mind reviewing them myself. Its hard to think how a bank would not allow hard currency that is simply worn out. Imagine if you went into a bank with a ratty & old $100 bill and they rejected it, you would be upset, wouldn't you? It just appears odd as if the banks don't want the people to trust them. I sure wouldn't trust a bank if they wouldn't accept my worn out notes.

At least a lot of us have nice crisp notes, right? I wonder if that was just another rumor that was created to get people to buy uncirculated.

If Iraq was really planning to RD like the other countries Turkey, etc., what would be the point of contradiction and confusion....you have studied this way more than me, did the other countries that RD'ed have this kind of thing going on beforehand?? BTW, congrats on baby!

I would think that they haven't. When your rocking 6 zeros on your currency, it is pretty obvious what the solution to the problem would be. 3 zeros, and people think there is a chance. I think currencies with 2 zeros have even lopped in banking history.

I do wonder though, was the Lira internationally traded prior to the R/D? Like on Forex and such?

In late December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeroes from the lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous lira (which remained valid in circulation until the end of 2005) at a rate of 1 second lira (ISO 4217 code "TRY") = 1,000,000 first lira (ISO 4217 code "TRL"). With the revaluation of the Turkish lira, the Romanian leu (also revalued in July 2005) briefly became the world's least valued currency unit.

A R/D occurred w/ Turkey around the same time a new currency was released from the CBI.

What I find intersting is how they passed it in 2003 and put it into effect 2 years later.

They basically told the world and allow 2 years to prepare.

We still haven't seen 100% confirmation from the GOI that this is passed.. And now we see articles stating that it will start in September?

Either way they will be reprinting or issuing a new currency that will have all three languages on it....I think we can safely assume that...

I was just pointing out that if you are re-printing 30 trillion dinar to replace the current 30 trillion (supposed amount) then you arent reducing anything....that seems to be the contradiction...unless they are printing all bills larger then 25k to exchange for

Im not saying that these delete the zeros articles arent talking about a RD cause if you take them all collectively, I dont see how you wouldnt come up with that conclusion but this one particular article was kind of funny because of the mentioned above contradiction lol....like this article was just cut and pasted together randomly from previous statements made.....or someone writing the piece really doesnt know what they are talking about!!

And FYI everyone....we were supposed to go into the hospital last night for the baby, but they messed up the scheduling so we are going in tonight! Gonna be a long couple of days ahead of me!!!!

If we were to view it with an open-mind: They may potentially be re-printing larger notes for bank to bank transfers. Could also be a translation issue that the CBI is reprinting currency for the 30 tr.

Or, maybe they're not printing physical notes as some of it will be converted to digital.

[dvforumuser]

I think currencies with 2 zeros have even lopped in banking history.

Yep, France did a 100:1 RD at one point. I think they are the only ones however. Edited February 20, 2012 by dvforumuser

[zigmeister]

Can Someone explain to me how the article is even remotely good for us investors. I don't see this as being good at all. I'm starting to think that the pumpers are the ones I have trusted for a while now. You all know who your are, and for some reason this does not effect your attitude toward this investment at all.

Hang on now....I've been there.....even today. The only site you need to be concerned with really is CBI. This is probably another recycled article. When we see on the CBI a definite educational piece pointing to an RD, then we have to re think the situation. We won't see an educational piece pointing to an RV. Let's face it they are going to do what they are going to do. Proceed with caution, but don't let the taxi cab swipe your butt as your crossing the street.

[rsskelton]

Either way they will be reprinting or issuing a new currency that will have all three languages on it....I think we can safely assume that...

I was just pointing out that if you are re-printing 30 trillion dinar to replace the current 30 trillion (supposed amount) then you arent reducing anything....that seems to be the contradiction...unless they are printing all bills larger then 25k to exchange for

Im not saying that these delete the zeros articles arent talking about a RD cause if you take them all collectively, I dont see how you wouldnt come up with that conclusion but this one particular article was kind of funny because of the mentioned above contradiction lol....like this article was just cut and pasted together randomly from previous statements made.....or someone writing the piece really doesnt know what they are talking about!!

And FYI everyone....we were supposed to go into the hospital last night for the baby, but they messed up the scheduling so we are going in tonight! Gonna be a long couple of days ahead of me!!!!

Keeping my opinion to myself on this article,lol.

Keep, just wanted to say congrats ! Better you than me. Sleepless nights are why you youngsters are supposed to have the babies. All joking aside, very happy for you. Keep us informed please.

RSS

[zigmeister]

Keeping my opinion to myself on this article,lol.

Keep, just wanted to say congrats ! Better you than me. Sleepless nights are why you youngsters are supposed to have the babies. All joking aside, very happy for you. Keep us informed please.

RSS

Well at our age if we had babies now....we would plan a vacation to Tahiti, thinking there was something missing. There we are with our coconut drinks on a beach watching the blue water swell in and out....and then we would remember....OF!...we forgot the baby!

[pnobles]

Hang on now....I've been there.....even today. The only site you need to be concerned with really is CBI. This is probably another recycled article. When we see on the CBI a definite educational piece pointing to an RD, then we have to re think the situation. We won't see an educational piece pointing to an RV. Let's face it they are going to do what they are going to do. Proceed with caution, but don't let the taxi cab swipe your butt as your crossing the street.

Historically, when the central bank has mentioned an RV, what has the time frame been? (ie; Turkey, Venezuela, etc)

[rsskelton]

Well at our age if we had babies now....we would plan a vacation to Tahiti, thinking there was something missing. There we are with our coconut drinks on a beach watching the blue water swell in and out....and then we would remember....OF!...we forgot the baby!

Exactly!