mise well call it slop talk

[leesburg]

what does the word lop mean anyway .. does it mean they are deleting zeros and keeping the same value .. like no change in value ?

like 1000 old equals 1 new ?

or 10,000 old means 10 new ?

the cbi constantly says they are deleting 3 zeros of the currency ..not of the exchange rate ...which is .00086 .. but if they delete 3 zeros off the currency .. the exchange rate automatically changes by 3 decimal places too .. it will become .86 .

do ya think they will still have an exchange tate for the non zero deleted dinars notes at ..00086? so it wont change .. and just the new dinar notes will have .86 exchange rates .... please back up yur anology with links to back up what your opinions are based upon .. ulness its just your own anology ..then please just state that .. to prevent arguments ..

please dont comment on other peoples opinions .. just put out your own opinions ..

that would save alot of arguments and name calling ..

its just your opinion

[gatoraces]

i think the old 25000 dinar will be worth 25 new dinar, etc.

i have no links, just what i think is most likely.

[doctor robbins]

Lop means they lop off zeros from the exchange rate. It's slang for redenomination. Look up the word "redenomination" in any encyclopedia. Research the history of redenominations. You'll see what the CBI is talking about. Zeros are removed from the exchange rate and a new currency is issued with fewer zeros. It's not rocket science. It's just confusing because of the lying gurus who want you to think you'll get rich.

[alan_coaks_3]

well said doctor. now were all just waiting to see how many of our old dinars it will take to get 1 new dinar

[DaveD]

well said doctor. now were all just waiting to see how many of our old dinars it will take to get 1 new dinar

It will take 1000... that is what the lopping of 3 zeros means. It's from the exchange rate and the money supply.

They have 30 some trillion in circulation now, they have another 30some trillion in electronic bank accounts.

They issue a new currency. All bank accounts will immediatly be lopped by 3 zeros. 1 miilion dinar will become 1 thousand dinar. (notice, lopped 3 zeros) The new dinar will be worth .86 as apposed to .00086 (again, lopped 3 zeros)

All old cash dinar will be exchnaged for new dinar. 1000 old given to get one new. (again, lopped 3 zeros).

they start witha money supply of about 70 Trillion, they end with a money supply of about 70 Billiion. (again, 3 zeros lopped)

Their $60 billion in FX reserves now support those 70 Billion dinar at a rate of .86 instead of supporting the old 70 trillion dinar at a rate of .00086 (lot's of lopping 3 zeros).

Edited July 12, 2012 by DaveD

[jackster]

what does the word lop mean anyway .. does it mean they are deleting zeros and keeping the same value .. like no change in value ?

like 1000 old equals 1 new ?

or 10,000 old means 10 new ?

the cbi constantly says they are deleting 3 zeros of the currency ..not of the exchange rate ...which is .00086 .. but if they delete 3 zeros off the currency .. the exchange rate automatically changes by 3 decimal places too .. it will become .86 .

do ya think they will still have an exchange tate for the non zero deleted dinars notes at ..00086? so it wont change .. and just the new dinar notes will have .86 exchange rates .... please back up yur anology with links to back up what your opinions are based upon .. ulness its just your own anology ..then please just state that .. to prevent arguments ..

please dont comment on other peoples opinions .. just put out your own opinions ..

that would save alot of arguments and name calling ..

its just your opinion

Currently, 1 IQD equals US$0.00086.

After RD, 1000 IQD will equal 1 IQD.

After RD, 1 IQD equals US$0.86.

So, 1 IQD equals US$0.00086, then will RV to equal US$0.86. That is, after they remove 3 zeros.

[alan_coaks_3]

Central bank governor Al Shabibi PROMISED to get the Exchange rate of the dinar down to 1000 to 1 dollar. the artical came out 3 months ago. so if they Exchanged our old dinar we have for 1000 to 1 new dinar that means we would only get 86 for ever 1000 we turn in

[leesburg]

right now im a multi millionare in iraqi dinars .. but im even richer than that in viet dongs ,, ... i guess i could live for a couple months in each place with the millions i got..

i hope they are lying to me about the new rates .. i never thought id hope someone was lying to me .. but .. yep .. i hope they are lying to me

you guys are alright .. ...no name calling .. just peacful talk .. thanks for your input