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The impossibility of a LOP explained for simple minds like mine

dinardummy

By dinardummy,
in Dinar Rumors

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dinardummy Newbie

dinardummy

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I propose this: A rich man in Iraq has approx. $1,000,000,000,000 IQD, worth 3 Billion USD, before we went to war with his country. After the USA overthrew his country's government, the VALUE of his wealth went to approx $$1,000,000,000,000 now NID worth 1 million USD. The math is a little off, but the logic is sound.My understanding is that Iraq does not care about us small time investors. Their only concern is RESTORING the WORTH of their currency. If they LOP, the only benefit to them is they now will get to carry around less cash. The value of the Dinar will be forever LOST!!! If they RV, even at a low rate, they can restore the wealth to the Iraqi people that lost it. Please explain to me how I am wrong guys. Have at it!

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sana Newbie

sana

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Unfortunately, there have been instances of RD in other countries where the borders were closed and citizens were given a fixed time to exchange old bills for new... We would be sol if this happened.

I have a question: Let's assume the average Iraqi has millions of dinars since a loaf of bread costs 3000 iqd. If it RV's tomorrow, who will work the next day? The country needs people to rebuild but everyone will be rich.. How will that work?

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dinardummy Newbie

dinardummy

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yes..if you exchange immediately, you get your $ back minus the trade difference. Dinar Trade Sells at 1060 and buys at 900. That means on a $1060 USD you would lose $160USD. Not a bad risk if you ask me. If you wait after the LOP(won't happen), the goal will be to move the rate up to $3.42 so Iraq can join the Arabic Union and go to a common currency(the entire goal of RV or LOP). In that scenario you would profit aprox. $2042 USD on a $1000 dollar investment. Find those odds on the stock market. The worst thing that could happen is nothing. I hope that helps

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sana Newbie

sana

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djcrzyc - you don't want to know the answer to that..

dinardummy- and I am just calling you that because it is your name :)

since a can of soda and a loaf of bread is about 6000 dinars, let's say that the poorest Iraqi makes at least 5000 dinar per day (basic survival)

5000 dinar per day x20 days per month = 100,000 dinars per month

100,000 dinars per month x12 months = 1,200,000 dinars per year minimum

If it RV's 1:1 with the USD tomorrow, every poor person in Iraq will instantly be wealthy. They might not keep it in the bank but they WILL be wealthy. Now, again, the problem with that is Iraq need someone to rebuild the country. The poor are the ones doing it now. When everyone becomes rich, who will do it?

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keylime Grand Master

keylime

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djcrzyc - you don't want to know the answer to that..

dinardummy- and I am just calling you that because it is your name :)

since a can of soda and a loaf of bread is about 6000 dinars, let's say that the poorest Iraqi makes at least 5000 dinar per day (basic survival)

5000 dinar per day x20 days per month = 100,000 dinars per month

100,000 dinars per month x12 months = 1,200,000 dinars per year minimum

If it RV's 1:1 with the USD tomorrow, every poor person in Iraq will instantly be wealthy. They might not keep it in the bank but they WILL be wealthy. Now, again, the problem with that is Iraq need someone to rebuild the country. The poor are the ones doing it now. When everyone becomes rich, who will do it?

The problem with your conclusion is that they won't have that money saved, they will have spent it on daily needs. And still are in the negative. Or are they going to stop eating and drinking for a year so they can save up 1,200,000 dinars minimum?

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Ronin7043 Newbie

Ronin7043

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ps sorry for the type o

Corrected it for you Ronin, and after you click on "post reply" you have about two minutes where you will see an "edit post" tab at the bottom of your reply or new post you can edit it yourself during that time. Just an FYI ;)

Edited by ToddS
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dinardummy Newbie

dinardummy

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djcrzyc - you don't want to know the answer to that..

dinardummy- and I am just calling you that because it is your name :)

since a can of soda and a loaf of bread is about 6000 dinars, let's say that the poorest Iraqi makes at least 5000 dinar per day (basic survival)

5000 dinar per day x20 days per month = 100,000 dinars per month

100,000 dinars per month x12 months = 1,200,000 dinars per year minimum

If it RV's 1:1 with the USD tomorrow, every poor person in Iraq will instantly be wealthy. They might not keep it in the bank but they WILL be wealthy. Now, again, the problem with that is Iraq need someone to rebuild the country. The poor are the ones doing it now. When everyone becomes rich, who will do it?

my guess is they will contract it out to Afghanistan like we do with Mexico...sorry if that offended anyone, but it is true...make more spend more..sound familiar

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BHEK Newbie

BHEK

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when it RV's / RI's.. and let's say it RV's high at $3.22.. with that, and the dropping of zeors later in the year. everything they have saves will be worth 3,000 times what they have.

and future earnings will be approx 3 times what they make now. do the math.. it's late.

so it will really help those that have savings and just holding dinar.. with this much time, they know.. they are stashing their dinar under their pillows..

and if they become rich, well that will help them buy houses, and electricity, and live a great life, but they'll still need income.

and the few that have millions.. heck, they can be the store owners and make even more money.

just what key lime said.

if you make $60,000 a year, that deosn't mean you have $60,000 to invest.. you have to live off of this. so maybe each iraqi has some extra dinar.. that will still help them get the basics.. and have a better life.

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Lyn LaVigne Newbie

Lyn LaVigne

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Nations with great oil wealth do not necessarily need to employ their own people. For instance Saudi Arabia--many foreigners are hired to work within the country in fields from medical workers/hospital staffing to oil-field workers and internal physical development. When you gain wealth, you hire workers to do it for you!

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smkymtndinar Newbie

smkymtndinar

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Let's not make the assumption that the price of bread in Iraq will stay the same after rv...it will probably go up. Also remember we are exchanging our dinar for USD (we get rich because we live in the U.S.), they will not be exchanging for USD because USD are useless to the average Iraqi. The ones who will profit most in Iraq will be businessmen and oil tycoons because they are dealing with people, companies and others (with USD) outside side of Iraq. IMO

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