More Details of New Iraqi Dinars

[whatsthis]

AKnews reports that Iraq’s new currency will include three languages: Arabic, Kurdish, and English. It will also include archaeological features including those of the Kurdistan Region.

Speaking on behalf of the economic committee in the Iraqi Council of Representatives, Muhama Khalil said that deleting the three zeros, and restructuring the currency will provide significant economic benefits.

He explained that Iraq signed a contract with four foreign companies to producing paper and coin variants of the new currency from the beginning of next year.

The move to delete the zeros will reduce the number of bank notes in circulation and simplify Iraq’s payment system. The Iraqi Central Bank will re-print some 30tr dinars ($26bn).

http://www.iraq-businessnews.com/2012/03/27/more-details-of-new-iraqi-dinars/

[SocalDinar]

Another LOP article

When will this end?

Total dinar burnout!

[whatsthis]

Another LOP article

When will this end?

Total dinar burnout!

where do you see it taking about a lop?

[Laid Back]

They are NOT going to put out in the papers exactly what they are doing. They are going to put out there what their plans are to move forward. They are NOT going to give you dates, times or rate. They are not going to tell you exactly how it is going to be done because that would be very counterproductive to the plan and people want to come in and destroy the plan and it very much can be for the economy Its a very delicate thing for them to do to get this exchanged and to get all the new funds out there and get it in the peoples hands and theres lots of things that can go wrong so they are putting out a position…There showing part of their cards but not showing all of their cards.

[sanders2340]

This has nothing to do with a lop. Please explain how you got lop out of this article.

[alan_coaks_3]

This has nothing to do with a lop. Please explain how you got lop out of this article.

an RD is Reduction in cost and overall risks of carrying large volumes of notes

and Simplification of accounting records and the ease of expressing monetary values . that is what it is saying it wants to do if you read the last sentence in the artical

The move to delete the zeros will reduce the number of bank notes in circulation and simplify Iraq’s payment system.

[willy1der]

an RD is Reduction in cost and overall risks of carrying large volumes of notes

and Simplification of accounting records and the ease of expressing monetary values . that is what it is saying it wants to do if you read the last sentence in the artical

The move to delete the zeros will reduce the number of bank notes in circulation and simplify Iraq’s payment system.

"reduce the number of bank notes in circulation" This is talking about removing bank notes from circulation, not from the currency! This is good!

[BigFrankD]

This has nothing to do with a lop. Please explain how you got lop out of this article.

Delete three zeros. In numerous articles they have very clearly explained that deleting three zeros = 25,000 note becomes a 25 note.

[randalln]

AKnews reports that Iraq’s new currency will include three languages: Arabic, Kurdish, and English. It will also include archaeological features including those of the Kurdistan Region.

Speaking on behalf of the economic committee in the Iraqi Council of Representatives, Muhama Khalil said that deleting the three zeros, and restructuring the currency will provide significant economic benefits.

He explained that Iraq signed a contract with four foreign companies to producing paper and coin variants of the new currency from the beginning of next year.

The move to delete the zeros will reduce the number of bank notes in circulation and simplify Iraq’s payment system. The Iraqi Central Bank will re-print some 30tr dinars ($26bn).

http://www.iraq-busi...w-iraqi-dinars/

Hmm ....thats funny .....if there is 30 trillion out there ......how is printing 30 trillion more removing anything .......all articles say to me that they are doing a 1 to 1 exchange and raising the rate to a dollar

and putting the Kirds on the note so they will play nice

remember 30trillion before a RV is still 30 trillion after a RV

[Goodlife]

The Iraqis have clearly stated that they want to improve the value of their Dinar. I cannot see how a lop achieves this.

I can see how they can reasonably quickly improve the rate against the US and then introduce the new currency which has less zeros.

Iraq must increase the value of their currency significantly to do what they want to do and be who they want to be. They know that they are on the verge of an oil boom and how valuable and ( currently) indispensable oil is to this world. Thats why I got into this investment a few years ago. Iraq is a growing economy with massive untapped wealth which is opposite to most western countries who are pretty much tapped out and have little room to improve or worse. As bizarre as this may sound, I believe my money is safer in Iraq than in most western banks. I am not aware of one bank in Iraq that suffered or went under in the sub prime crisis which cost many people their savings and worse.

I am picking around August for the start of movement on the Dinar. They should be out of the confines of Chapter 7 by the end of June or start of July which all things been equal should get them going.

Iraq is notoriously slow to get things sorted.

I also see massive buying pressure on the Dinar once it starts to appreciate. This will create a bull market effect. I also do not see the new currency being ready by then. So it will be the existing currency going up and being traded.

The problem I see with this scenario is that because massive amounts of IQD currency will be in demand due to world wide speculation, way bigger than what we currently have, there will be a massive corresponding sell down which could crash the Dinar as quickly as it goes up. And this could be with the same currency that we have now.

Cant say its a boring investment. And yes I have been waiting for some time and watching the pumpers with interest just like the rest of you.

And as one of you say "I didn't know waiting took so long" but it has to be that way.

[randalln]

but if all you had was 25000 dinar notes it would be hard to make change....for something that costs 50 dinar........ hahahahahahahaah if you dont have lower notes

[randalln]

remember this they dont have to be at one to one to remove the large notes .......most third and second world countries are 100 to 1 and under ......and operate just fine

a country at 50 to 1 ......has there highest note at 5000....there are a lot of countries that are at around 50 to 1

Iraq could come out the gate at 100 to 1 .....and remove a ton of large notes in 1 month and then start moving every 15 days down ...to = 1 to 1 ....and never miss a beat ....if a person was to do some research they might find there ave been no less that 50 countries that have done this in the past 30 years ......and if you look a little closer ....you will find that there CFO's have all been through the same education that Dr. Shabby has been too

[randalln]

Take for instance the Philippines in 2005 they exploded too 57 to 1 so 1 million would be about 17,000 dollars .....now if you were to buy say ......5 million peso that would cost 87,700 dollars

now today or should i say in 2009 the rate is 43 to 1 that is about 23,200 per million .....5 million would be 116,279 dollars .....thats about 30,000 dollars profit on a 87,000 dollar investment in 3 years

now that may not seem like much but use millions and not thousands ...........and that is a S#!T load

this is how the Forex people make there killing .....

now you say what dose this have to do with the price of tea in china ..............

Well if you move the exchange rate in small increments ...the forex will pick up on it ...........but if you make a huge jump all at once ...they wont know what hit them ....because of there arrogance and some pretty smart misinformation ...and then throw a whole lot of people that have no clue about trading money in the mix for good measures .....and you have yourself a perfect plan ...O and dont forget a few people that say its going to happen every day .....just too make sure the (big boy bankers)and rest of the world thinks there all crazy ....and you have made history and some money at the same time

dont give up yet folks this is just getting started ......wait till some of us start the next world domination of a single currency ..........thats right WE me and you did this to the currency not some secret origination .....just some poor folks looking to get ahead ....thats why it will work they did not see it coming ....even when we told them every day ..............Arrogance.................. is a bad thing to have in a investment

[SocalDinar]

where do you see it taking about a lop?

That's what deleting the 3 zeros means right?

I Am just hopeful it's all smoke

I want it to mean 3 zeroes from the rate but that's not what it says.

GO SHABS

[Nelg]

They are NOT going to put out in the papers exactly what they are doing. They are going to put out there what their plans are to move forward. They are NOT going to give you dates, times or rate. They are not going to tell you exactly how it is going to be done because that would be very counterproductive to the plan and people want to come in and destroy the plan and it very much can be for the economy Its a very delicate thing for them to do to get this exchanged and to get all the new funds out there and get it in the peoples hands and theres lots of things that can go wrong so they are putting out a position…There showing part of their cards but not showing all of their cards.

Laid Back, this is the most I have read from your hammock!! Man, you can communicate! :D

[HisHands]

They are NOT going to put out in the papers exactly what they are doing. They are going to put out there what their plans are to move forward. They are NOT going to give you dates, times or rate. They are not going to tell you exactly how it is going to be done because that would be very counterproductive to the plan and people want to come in and destroy the plan and it very much can be for the economy Its a very delicate thing for them to do to get this exchanged and to get all the new funds out there and get it in the peoples hands and theres lots of things that can go wrong so they are putting out a position…There showing part of their cards but not showing all of their cards.

I also think they are purposely trying to cause confusion so no one will know exactly what they are doing. I do believe they have accomplished that quite nicely for me anyway. LOL!

[Luigi1]

Hmm ....thats funny .....if there is 30 trillion out there ......how is printing 30 trillion more removing anything .......all articles say to me that they are doing a 1 to 1 exchange and raising the rate to a dollar

and putting the Kirds on the note so they will play nice

remember 30trillion before a RV is still 30 trillion after a RV

Explain how 30 Trillion IQD before is still 30 Trillion IQD after will reduce the money supply as the CBI's main objective is to do. This defeat the whole entire purpose of coming out with a new currency.

It looks more like a partial LOP then a managed float. It could very well be a hybrid RV. A little LOP & a little raise in the value of the IQD.

Edited March 27, 2012 by Luigi1

[TheArtistFormallyKnownAs]

Burn out is right

I can't remember a life with out HCL , LOP , RV , ICI ,Chap 7 , Art 140 , Soon ect ect ect I just wish they would do something.

Edited March 27, 2012 by TheArtistFormallyKnownAs

[Psych]

Let me add to the above discussion by stating that Iraq has released a million articles on the 3 zeroes. Each one has contradicted the other. Who really knows what they are going to do. I will say that that one article doesn't equal a LOP. One article doesn't really mean anything at this point, as they tend to change their minds everyday.

[SPRAYERDUDE]

Delete three zeros. In numerous articles they have very clearly explained that deleting three zeros = 25,000 note becomes a 25 note.

In country the new 25 dinar note will have the same value as the 25000 dinar note currently "What could possibly be the reasoning behind your statement?" That would make a 25000 dinar note" which they will not print new" worth 25000 dinars. They cannot have 2 currencies with 2 different values especially with the goal to become a full W.T.O. member and internationally recognized. My opinion is until Iraq is out of chapter VII any monetary change will not benefit them in anyway "These articles are written for Iraqi's"

Edited March 27, 2012 by SPRAYERDUDE

[BigFrankD]

In country the new 25 dinar note will have the same value as the 25000 dinar note currently "What could possibly be the reasoning behind your statement?" That would make a 25000 dinar note" which they will not print new" worth 25000 dinars. They cannot have 2 currencies with 2 different values

Yes, they can. It's called a redenomination and over 50 countries have done it before, including Turkey, who they frequently reference in their three zero articles.

[k98nights]

Another LOP article

When will this end?

Total dinar burnout!

How the heck do you see a LOP in this article??

[Dinaronair]

Yes, they can. It's called a redenomination and over 50 countries have done it before, including Turkey, who they frequently reference in their three zero articles.

Why are you so negative? You don't belong here....

[2fast4u2c]

Why are you so negative? You don't belong here....

Since when is a differencing opinion considered negative?

When did you begin deciding who belongs here?

[Dinaronair]

Since when is a differencing opinion considered negative?

When did you begin deciding who belongs here?

Any time someone post an article he has to bring it down with a negative opinion... If you are anti RV then why be here?? Doesn't make sense to me