delete 3 zeros means 1 million will be 1 thousand

[sonny1]

Why am I not surprised that you come with a querky little remark instead of an answer to my question? I guess I still await.

what question?

and by the way do you have any other comments except the stock lopper "when in the history of the world has a country ever rv'd at 10000000000000000%". you might want to get a new move, because its getting stale.

you never answered my question, when has a country whos dollar should be around $3.00 to $1.00 u.s.d been at -1166?

dont get me wrong, it will never never never rv at $3.00, but it should be close to that by now, not negative. i know your smart enough to realize that right?

[dvforumuser]

what question?

and by the way do you have any other comments except the stock lopper "when in the history of the world has a country ever rv'd at 10000000000000000%". you might want to get a new move, because its getting stale.

you never answered my question, when has a country whos dollar should be around $3.00 to $1.00 u.s.d been at -1166?

dont get me wrong, it will never never never rv at $3.00, but it should be close to that by now, not negative. i know your smart enough to realize that right?

Why should it be close to $3? Back in Sadam's day when this was the claimed value (not sure what it really traded at) there were ~3000 times fewer dinars in the money supply. M2 was 10B or 20B, something like that, now its at least 10T or 20T, the CBI claims 62T so why should the money supply be worth 1000x or more now than it was back then with an economy that is roughly the same with a GDP of $100B or so? Edited March 16, 2012 by dvforumuser

[Darin]

what question?

and by the way do you have any other comments except the stock lopper "when in the history of the world has a country ever rv'd at 10000000000000000%". you might want to get a new move, because its getting stale.

you never answered my question, when has a country whos dollar should be around $3.00 to $1.00 u.s.d been at -1166?

dont get me wrong, it will never never never rv at $3.00, but it should be close to that by now, not negative. i know your smart enough to realize that right?

You know, I have a question here. Which is easier? Claiming you have more in circulation than reality? Claiming you have less in circulation in reality?

Auditors, yes, they can audit what they can psychically see, but what about what they can't see?

With that said, I don't think we can necessarily use the auditing to protect that they're being accurate.

[dinarck]

what question?

and by the way do you have any other comments except the stock lopper "when in the history of the world has a country ever rv'd at 10000000000000000%". you might want to get a new move, because its getting stale.

you never answered my question, when has a country whos dollar should be around $3.00 to $1.00 u.s.d been at -1166?

dont get me wrong, it will never never never rv at $3.00, but it should be close to that by now, not negative. i know your smart enough to realize that right?

Ok here is the answer to your question for the sixth time. Venezuela who had a hyperinflated currency the same as Iraq. I know you are smart enough to realize the difference between a hyperinflated and an undervalued currency right? I find it hilarious that you continue to ask the same pointless question in an attempt to avoid answering ones that matter. Your question has been answered repeatedly even though your question is flawed since the IQD isnt undervalued. Why have my questions gone unanswered? Here they are again so that they dont go stale. What gives Iraq the authority to "RV" themselves tens of trillions worth of wealth? How do you figure a jump of 100,000% overnight wouldnt create massive hyperinflation basically destroying whatever small economy and market place that Iraq has? Come on sonny. Lets have a real debate about these issues instead of you thinking the IQD should be at 1 to 3 with absolutely nothing to back up those statements.

[starlight]

it is my opinion that when they say they will delete 3 zeros..

your million dinars will turn into one thousand dinars ,, through an exchange process .. of 1000 to one ..

now why people are happy for this is beyond me .. but they are ....

i for one am hoping for a 3 or 4 dollar revaluation of this dinar along with the deletion of these zeros

or .. just keep the zeros and rv to anything more .. a penny .. a nickle ..a dime .. anything ..

i for one will not be kidding myself about what i have been reading about the zero deletion ..

good luck to all.. hold your dinars ..dont sell till something happens .. you have a good chance of making some money here ... becoming a multi millionare .. ..that would depend on how much dinar you hold .....

i guees there is no debating this ,.. because it is exactly what we all have been reading .. i can see why no one will say anything .. .. theres no debate here

Look up the word "redenomination" and the word "revaluation", they are not the same thing...

Edited March 16, 2012 by starlight

[umbertino]

It's funny that people pretend there aren't any FACTS when it comes to economics...as you simply put it...there are facts and NOT all outcomes are possible.....some outcomes are dreams.

I got to the point that I have to agree on that ( and I don't like it)....Reality shower....Cold.

[starlight]

How much information or truth do you think the CBI is willing to give out about an RV? Surely not everything...

[dinarck]

How much information or truth do you think the CBI is willing to give out about an RV? Surely not everything...

What RV? There is no such thing. A true RV is what occured weeks ago with an intervention by the Central Bank to move from 1170 to 1166. That is a RV and by their own admission it didnt work to raise the value of the dinar. They moved the exchange rate up yet the actual value of the dinar fell in the market place against the USD. What does that tell us? It tells us that economics is an extremely delicate balance and a 100,000% jumps do not exsist. Again by their own admission the only way that they can raise the actual value of the dinar is to sell more USD into the market to reduce its demand. If a 100,000% RV would actually raise the value of the dinar dont you think they would have done it years ago? It is a fairy tale that any economist whould laugh at because they know better than any that they would crash any economy that attempted one. We have seen how the Central Bank uses the auctions to keep the actual value of the dinar stable. It is a shame that these tactics are twisted into RV nonsense by people with zero understanding of their intentions even though the CBI tells us constantly what they are doing. Once again the IQD is in a hyperinflated state so there is only so much the CBI can do to keep it on a stable peg with the USD. Massive RVs are not one of their options because they are made up by dinar pushers.

[jmw]

<br />Look up the word "redenomination" and the word "revaluation", they are not the same thing...<br />

<br /><br /><br />

All redenomination's involve revaluing the currency...otherwise they are just replacing the currency....if they change the denominations they adjust the value based on the new denominations.... and the word "revaluation" is often used when discussing a redenomination...

<br />You know, I have a question here. Which is easier? Claiming you have more in circulation than reality? Claiming you have less in circulation in reality?<br /><br />Auditors, yes, they can audit what they can psychically see, but what about what they can't see?<br /><br />With that said, I don't think we can necessarily use the auditing to protect that they're being accurate.<br />

<br /><br /><br />

which is more likely...that the audited numbers of the CBI that are required to be transparent to the IMF are accurate or at least close...or that the CBI is lying about 60 trillion dinar and have been lying by trillions for years without anyone ever noticing....it takes a significant amount of cash to run their country but there to be a large RV there could only be several BILLION dinar in circulation...which is virtually impossible based on the amount needed to run the country....just look at the salaries of government employees....

[starlight]

What RV? There is no such thing. A true RV is what occured weeks ago with an intervention by the Central Bank to move from 1170 to 1166. That is a RV and by their own admission it didnt work to raise the value of the dinar. They moved the exchange rate up yet the actual value of the dinar fell in the market place against the USD. What does that tell us? It tells us that economics is an extremely delicate balance and a 100,000% jumps do not exsist. Again by their own admission the only way that they can raise the actual value of the dinar is to sell more USD into the market to reduce its demand. If a 100,000% RV would actually raise the value of the dinar dont you think they would have done it years ago? It is a fairy tale that any economist whould laugh at because they know better than any that they would crash any economy that attempted one. We have seen how the Central Bank uses the auctions to keep the actual value of the dinar stable. It is a shame that these tactics are twisted into RV nonsense by people with zero understanding of their intentions even though the CBI tells us constantly what they are doing. Once again the IQD is in a hyperinflated state so there is only so much the CBI can do to keep it on a stable peg with the USD. Massive RVs are not one of their options because they are made up by dinar pushers.

Iraq was in hyper-inflation in 2006 (64.8%), but not now @ 6.3% for Feb 2012. Turkey was in hyper-inflation @65% in 1999, 39% in 2000, 45.2% in 2002, 25.3% in 2003, then they RD'd. You can have your opinion and I'll keep mine.

My link

Edited March 16, 2012 by starlight

[dvforumuser]

You know, I have a question here. Which is easier? Claiming you have more in circulation than reality? Claiming you have less in circulation in reality?

Auditors, yes, they can audit what they can psychically see, but what about what they can't see?

With that said, I don't think we can necessarily use the auditing to protect that they're being accurate.

But accurate to what level? Could they pass an audit and have their numbers be off by 1000%? I don't think so. 10%? sure. But 10% doesn't help us.

[starlight]

Revaluation means a rise of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonym of revaluation is devaluation. Altering the face value of a currency without changing its foreign exchange rate is a redenomination, not a revaluation.

In general terms Revaluation means a calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. central bank) can alter the official value of the currency. Contrast to "devaluation". For example, suppose a government has set 10 units of its currency equal to one U.S. dollar. To revalue, the government might change the rate to five units per dollar. This would result in that currency being twice as expensive to people buying that currency with U.S. dollars than previously and the U.S. dollar costing half as much to those buying it with foreign currency. Before the Chinese government revalued the yuan, it was pegged to the U.S. dollar. It is now pegged to a basket of world currencies.

My link

[keepmwlknfny]

Iraq was in hyper-inflation in 2006 (64.8%), but not now @ 6.3% for Feb 2012. Turkey was in hyper-inflation @65% in 1999, 39% in 2000, 45.2% in 2002, 25.3% in 2003, then they RD'd. You can have your opinion and I'll keep mine.

My link

I believe he was referring to the dinar itself being hyperinflated....not the country.....and if there are 25+ trillion outside the banks then I would consider that inflated pretty bad....

[Retiredofficer]

So I just rid myself of a pound of sand from a greenside trap at Kiawah Island Ocean course, and to see my penny stock investment vanish in a RD.......I'm jumping back in that crap & bury my head until Adam sends me a text saying the coast is clear, Dr. Shab just payed for membership at Augusta National.

[andy3978]

I might be leaning to agree with the notion of 1 million becoming 1 thousand via removing 3 zeroes. First off there been much talk of a massive 'educational campaign' to inform the citizens of this new plan and how it will affect them. Now the average Iraqi is not very intelligent so a long, lengthy, drawn-out educational process might be required so they know precisely what's going on and how it impacts them.

On the other hand, if removing 3 zeroes meant removing them from the exchange rate, all the average Iraqi would need to know is that their 1 IQD equals 1 USD. Pretty simple. So if they bought a can of Coke and paid for it with 1 USD, now they can use 1 IQD (when the LDs are introduced).

Not really too much educating necessary.

Conversely, if the average Iraqi needs to know 'well your 25,000 IQD note is now really a 25 IQD note however, blah, blah, blah....' Well yea there might be some confusion amongst the masses there. In that scenario I could see how a rigorous educational campaign would be necessary.

[dinarck]

Iraq was in hyper-inflation in 2006 (64.8%), but not now @ 6.3% for Feb 2012. Turkey was in hyper-inflation @65% in 1999, 39% in 2000, 45.2% in 2002, 25.3% in 2003, then they RD'd. You can have your opinion and I'll keep mine.

My link

Oh...now I see. How stupid of me. I am glad someone knows what they are talking about and even brought a link to prove it. Now I am super excited to become filthy rich overnight anytime now. Ok now that the sarcasm is out of the way then yeah..... what Keepem said.

[truthful1]

/90000000000

Let's say you've discovered something, the CBI is cheating by 50%...

We can then calculate.

90B (USD reserves)/30T (IQD M2)=.003

1 IQD=.003 USD

or

$3,000 per 1M IQD

Not bad, but a far cry from some of the numbers bandied about.

Your taking it as fact the cbi really has 30 trillion dinars. if there was any consistency i may be a believer, but theres not. Info of having 50% or more reserves than what they claim??? You dont find that troubling?? Being off 30 billion. Dollars, hell that would cover the entire 30 trillion dinar. thats a big mistake

[keepmwlknfny]

Your taking it as fact the cbi really has 30 trillion dinars. if there was any consistency i may be a believer, but theres not. Info of having 50% or more reserves than what they claim??? You dont find that troubling?? Being off 30 billion. Dollars, hell that would cover the entire 30 trillion dinar. thats a big mistake

What do you mean? They have stated they have 90 or so billion in reserves but only 60+ billion in HARD CURRENCY which is what is shown on the financials....there is another 30 or so billion in other assets that act as a part of the reserves such as gold and SDRs...there are more Im sure.

[starlight]

I believe he was referring to the dinar itself being hyperinflated....not the country.....and if there are 25+ trillion outside the banks then I would consider that inflated pretty bad....

If each country used the dinar for purchasing, whatever they desire, and not let it sit in their country reserves, would it really matter. It would all come out in the wash in the end.

[starlight]

Oh...now I see. How stupid of me. I am glad someone knows what they are talking about and even brought a link to prove it. Now I am super excited to become filthy rich overnight anytime now. Ok now that the sarcasm is out of the way then yeah..... what Keepem said.

If you are that angry...why don't you take your ball and go home.

[MrFnHappy]

Your taking it as fact the cbi really has 30 trillion dinars. if there was any consistency i may be a believer, but theres not. Info of having 50% or more reserves than what they claim??? You dont find that troubling?? Being off 30 billion. Dollars, hell that would cover the entire 30 trillion dinar. thats a big mistake

Actually, I halved the M2 of 60+T for the exercise to come up with 30T dinar.....lately, everyone just talks of the physical cash, but the reality is Iraq has to cover it's entire M2, not just physical cash.

[truthful1]

What do you mean? They have stated they have 90 or so billion in reserves but only 60+ billion in HARD CURRENCY which is what is shown on the financials....there is another 30 or so billion in other assets that act as a part of the reserves such as gold and SDRs...there are more Im sure.

My apologizes, after looking i was obviously mistaken. its a great reminder to look before you post.

Actually, I halved the M2 of 60+T for the exercise to come up with 30T dinar.....lately, everyone just talks of the physical cash, but the reality is Iraq has to cover it's entire M2, not just physical cash.

Your absolutely correct

[keepmwlknfny]

If each country used the dinar for purchasing, whatever they desire, and not let it sit in their country reserves, would it really matter. It would all come out in the wash in the end.

Yea it does matter actually when your a pegged currency.....your exchange rate relies heavily on your reserves to back the value....

If the dinar was not so inflated the dinar would be worth a lot more then it is now....

My apologizes, after looking i was obviously mistaken. its a great reminder to look before you post.

Your absolutely correct

No apologies! LOL Believe me.....Im looking for that little bit of info that would discredit all of the financials!! But if they are only talking the hard currency in the reserves then they are pretty close to what the majority reports....

[dinarck]

If you are that angry...why don't you take your ball and go home.

That wasnt an angry post just a sarcastic one. Hopefully you learned something valuable today. Isnt this site great?

[starlight]

That wasnt an angry post just a sarcastic one. Hopefully you learned something valuable today. Isnt this site great?

Hopefully, you learned something. I'm still going with my theory. In the end, if it does not happen I will get over it and live life and be happy. The life that God gave me to live with or without money. Isn't that what it's really all about??