UPDATE: Iraq Ctrl Bank Plans To Rebase Dinar; No Time Fixed Yet

[Bob]

If 1 dollar equals 1.17 dinar, then that would mean the dinar would now be worth .85 right? If that is the case then my million dinar will be worth $850,000.00.....whats wrong with that??

[joeintt]

more and more I follow this situation it is becoming clear to me that this knocking off of 3 zeros (lop) is very real and credible. I am thinking that a LOP and then an RV of about $2-$3 could be very real. This would result in a return of 200% to 300% for any IQD investor and not that of a zillion % (lol....just being facicious) as we are all being told by the gurus to expect. My view is further reinforced in my mind since the main players in Iraq are all clearly stating to all the world that they intend to rebase (??) the IQD. They would only do this if they knew that their country would not be badly hurt by their premature utterances of a pending RV.

So...do we open our eyes and see what we are being told or do we close our eyes and be told what to see......Be blessed all

[Mongo]

I think I need to rebast this turkey too it looks tough

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[Bob]

Looks like they are simply moving the decimal point 3 to the left on both the zeros and the current rate. (25000 to 25 and 1170 to 1.17) This sounds like a pretty good profit if you ask me. If you divide $1.00 by 1.17 dinar you get approx .85 cents per dinar! That means 1 million dinar is worth $850,000.00. I can buy alot of bacon with that!!

[FDyer]

Bob...That is EXACTLY what my post was about.

But then ClydeDriver put this out there which makes sense unless someone has any other take on it: If you had 1,000,000: Lop, now you have 1,000. RV at 2:1. Your now 1,000 at 2:1 is $2000USD. Still a good return on investment...but not the huge returns we have been praying for.

[TexaSwa]

Re-read it: your 25000 note will be worth 25. Ill paste for you:

If the rebase decision is taken it means a current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars.

[jayb1rd]

no, 1,000,000 dinar becomes 1,000 dinar or $850

[Riverdawg]

Bob, If you had a million dinar, that would be 40 25,000 dinar notes, and they dropped 3 zeros making your 25,000 dinar notes worth 25 dinar, you would still have 40 25 dinar notes that now equal one thousand dinar, not a million. You would have needed to start off with one Billion dinar to end up with a million after they remove 3 zeros. And at current prices, if you want to spend one million dollars to end up with $850,000.00 if they do lop, then go right ahead...

[Jinks123]

who really knows until it happens?? a loss or gain. to many people on the global forefront have invested in this to be a loss!! it may not be the homerun we all dream of but a loss thats drastic isnt it?? faith! wheres the faith??

[djcrzyc]

I don't get this at all. What is so hard. If it lops, it will be worth roughly $.85 USD. Multipy $.85 x the amount of Dinar you have and there is how much $$ you made.

[Bob]

I agree with your logic! BUT, what I am reading between the lines is, that 1 dollar equals 1.17 dinar. I think this may be the rebasing action which may mean that they lop 3 zeros and revalue by moving 3 places to the left on the current value. 1170...move 3 places to the left...1.17! Personally I think we are in at .85 cents on the dinar!

Stay thirsty my friends!

[bahtman]

Absolutely Guys!!!! This thread is hilarious!!!!!

Please, Stick a Fork in Me!!!! I'm DONE!!!!

[djcrzyc]

Bob, right now the current value is roughly 0.00085 USD. If the lop happens the lop goes to the right making it 0.85 USD. Doesn't that make it 0.85 x how much Dinar we have to = our total?

[Bob]

The following is what I am basing my deduction on. It looks very promising to me! To me it looks like there are 2 actions taking place...1. the lop, and 2. the revalue!

"If the rebase decision is taken it means a current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars."

[djcrzyc]

Ok, let's say I have 1,000,000 Dinar. I take that 1 mil Dinar and divide it by 1.17 and then that = how much i have in USD correct?

[calguy]

Examples for those of you that continue to think that they are just going to RV and try to spin it.

DONT get me wrong, I bought the IQD big time so the LOP LOP LOP kind of sucks.

Notes before and after the lop/rv that is coming as it is told in the story and other places.

25000 dinar would equal 25 dinar after 3 zero lop

10000 dinar would equal 10 dinar after 3 zero lop

5000 dinar would equal 5 dinar after 3 zero lop

500 dinar would equal .5 dinar after 3 zero lop

100 dinar would equal .1 dinar after 3 zero lop

50 dinar would equal .05 dinar after 3 zero lop

Bank account lops would be balance minus 3 zero positions.

Bank account Current:

15,000,000 iqd - lop of 3 zeros = 15,000 IQD in Iraqi bank account after LOP

Current Exchange Rate: 1170 iqd to 1 usd

After lop/rv = 1.17 iqd to 1 usd

And all please keep in mind that even if you have the smaller iqd denominations that they will also have to be lopped as it cannot be done any other way. Oh, yeah this totally sucks.

Gonna keep the Dinar i have, and hope the WSJ has it wrong, but there seems to be to much evidence that it has it on the nose.

[LOC]

well this is what happened with russia when they did it maybe there is hope:

"We declare today that there will be no more inflation," Yeltsin said. "An end has been put to it. New zeros will never again appear on our bank notes."

Despite the president's optimism, his announcement alarmed many Russians who vividly recall losing their savings in earlier currency "reforms" and worry how they will fare in this conversion. In addition, some economists and politicians warned that renumbering the ruble will lead to price increases that will harm the poor most of all.

Yeltsin, however, said he would guarantee that Russians will not lose money because of the introduction of the new notes, and he promised a smooth conversion that will take place over five years.

"Nobody is going to lose anything as a result of the reform," the president pledged. "Nobody's interests will be trampled on; the reform will not amount to confiscation."

[djcrzyc]

Calguy, if it lops it goes from 0.00085 to 0.85. The lop is moving to the right. Won't the decimal move to the right on let's say a 25,000.00 Dinar note making it 25,000,000.00 Dinar?

[4dinarrv]

well it all depends on if they do LOP which is taking the zero's off of the currency but if they pull the 3 zero's off of the rate like I think they will do it will make all the difference. watch out for Iraq to lie about what they are really doing to get some investors to cash back in.

[calguy]

Calguy, if it lops it goes from 0.00085 to 0.85. The lop is moving to the right. Won't the decimal move to the right on let's say a 25,000.00 Dinar note making it 25,000,000.00 Dinar?

That would be great but that is not how it works.

[FDyer]

Well...Here is what everyone is going back and forth over. YOU ARE MISSING THE FIRST PART OF THE EQUATION. (If it happens this way.) If they LOP, and you have a 25000 note NOW YOU ONLY HAVE 25 IQD. THEY ARE THE SAME. YOU DO NOT HAVE 25000 IQD. YOU NOW HAVE 25 IQD.

The next part people are seeing similarly. The LOP will make .00086 become .86. For those who are thinking they will have .86 for every dinar that is STILL CORRECT, but here is where you are missing what is happening:

YOU NO LONGER HAVE 25000IQD. 25000IQD at .86 would be $21,500.00 USD, WRONG! Because NOW you ONLY HAVE 25IQD. 25IQD at .86 = $21.50

NOW REGARDING AN RV WITH THOSE FACTS ABOVE:

Now....If it happens how stated above and they RV to 1:1, 2:1 or 3:1 (or in between) profits are not what people originally would think. (ORIGINALLY THOUGHT STILL HAD SAME # OF DINAR SO: 1:1 1,000,000 IQD = 1,000,000 USD)

YOU WOULD NOT HAVE 1,000,000 IQD anymore, YOU WOULD NOW HAVE 1,000 IQD with LOP. SOOOOO.....if RV at 1:1 you NOW HAVE 1,000 IQD = 1,000 USD. (NO profit here.) They would have to RV at higher than this now to have any profits.

RV now at 2:1 with 1,000,000 IQD ORIGINALLY, that is NOW 1,000 with LOP: 1,000 IQD = 2,000 USD

If paid around 1,000 USD you have a profit of 1,000 minus taxes/exchange fees etc....but still SOME profit. (NOT THE BIG PROFITS WE THOUGHT)

RV now at 3:1 same principle as above: 1,000 IQD = 3,000 USD. More profit, but STILL NOT MILLIONS.

I don't want this to be the case either, but the more I am looking at actual numbers here, it makes more and more sense. What I am looking for is someone to be able to tell me WHY it would not be done this way....because although this ROI is better than a lot out there....I still liked the sound of millions. Anyone, help??

[FDyer]

Even in light of all of that....I am going to hold on to my dinar because this still has a chance to make some profits....going to PRAY that this scenario is wrong, so they will be the BIG profits we all want...but I don't think it is.

[waverider09]

What are they going to do scratch them off, use whiteout, tell you your money is no longer any good? They have to honor the states commitment!

[wizard96]

We were told to look for negative propaganda right before the RI and ill bet this is it

JMO

[ghaggerty]

Your million wouldn't be a million, it would be 1000....

If 1 dollar equals 1.17 dinar, then that would mean the dinar would now be worth .85 right? If that is the case then my million dinar will be worth $850,000.00.....whats wrong with that??