The new currency

[dinarck]

So we are seeing more and more articles with more and more detail about the new currency. Of course everyone is excited and "we are at the end of this ride" and "go Shabs" and yada yada but has anyone stopped to ask themselves the obvious question? Are they going to exchange 1000 to 1 or are they going to exchange 1 to 1 from old to new currency? Isn't this the most important question?

Well, for one they have already told us numerous times that the exchange will be 1000 to 1 just like a basic redenomination. For two they would never preannounce a 100,000% RV. (Even if there was such a thing) For three they have mentioned Turkey a million times. For four its common sense. For five they have said it won't increase purchasing power. For six they have no way to make their M2 worth 70 trillion USD. (Just that thought alone is ludicrous) There is a thousand more reasons the exchange will be 1000 to 1.

We already know some people's argument that the government and media are lying to the Iraqi people and the world. We also know the argument that the CBI financials are wrong. Just stop to think about those two arguments for a second and then ask yourself how likely that is to be true. Then ask yourself how likely it is that a country like Iraq with a hyperinflated currency is REALLY planning, implementing, and describing daily to their people an upcoming basic redenomination just like has been done nearly a hundred times atround the world by countries in the same hyperinflated predicament that Iraq is in now. You be the judge.

[sandstorm]

Your probably right......but, ive already bought in and its going to be what it is. there going to do something in january, so im going to wait and see. are the odds on our side?? No.....but if i sold now, and a miracle happened, id be kicking myself the rest of my life.

[VIZIOIRAQI]

So we are seeing more and more articles with more and more detail about the new currency. Of course everyone is excited and "we are at the end of this ride" and "go Shabs" and yada yada but has anyone stopped to ask themselves the obvious question? Are they going to exchange 1000 to 1 or are they going to exchange 1 to 1 from old to new currency? Isn't this the most important question?

Well, for one they have already told us numerous times that the exchange will be 1000 to 1 just like a basic redenomination. For two they would never preannounce a 100,000% RV. (Even if there was such a thing) For three they have mentioned Turkey a million times. For four its common sense. For five they have said it won't increase purchasing power. For six they have no way to make their M2 worth 70 trillion USD. (Just that thought alone is ludicrous) There is a thousand more reasons the exchange will be 1000 to 1.

We already know some people's argument that the government and media are lying to the Iraqi people and the world. We also know the argument that the CBI financials are wrong. Just stop to think about those two arguments for a second and then ask yourself how likely that is to be true. Then ask yourself how likely it is that a country like Iraq with a hyperinflated currency is REALLY planning, implementing, and describing daily to their people an upcoming basic redenomination just like has been done nearly a hundred times atround the world by countries in the same hyperinflated predicament that Iraq is in now. You be the judge.

[/quo

Iraq is not in a hyperinflated predicament they have one of the most stable Do some Homework and get back to us

[Laid Back]

dinarck, Thanks for showing us the other side of this investment.

I hope you keep some dinars for yourself.

[hunz2]

Iraq is not in a hyperinflated predicament they have one of the most stable Do some Homework and get back to us

He never said that Iraq is currently experiencing hyperinflation. He said that the currency itself is hyperinflated, which it is.

[dinarck]

O sorry Vizio. My bad. How silly of me. 70 trillion M2 and 25,000 notes common on the streets must be a sign of something other than a hyperinflated state. Whoops. Sorry I haven't done my research.

Sandstorm I agree 100,000%. There is no reason to sell even if you have serious doubts about this deal. The amounts we have into this thing I doubt will be devistating if lost. My whole point was to get people to see the obvious. I still hold my dinar and who knows, maybe they won't go through with the RD but never wil they RV by 100,000%.

dinarck, Thanks for showing us the other side of this investment.

I hope you keep some dinars for yourself.

Thanks laidback. Your demeanor is always like your name and avatar. Cool as can be.

[cbisinger]

So who you trying to convince?

If things look that bad to you then why are you still here?

WouldnT IT MAKE SENSE FOR YOU TO JUST SELL UP AND FORGET ABOUT IT

[ijdk]

X-rays will prove to be a hoax."

-- Lord Kelvin, president, Royal Society, 1895

"Radio has no future."

-- Lord Kelvin

"Heavier than air flying machines are impossible."

-- Lord Kelvin

"Flight by machines heavier than air is impractical and insignificant, if

not utterly impossible."

-- Simon Newcomb, Director, U.S. Naval Observatory, 1902

"Aerial flight is one of that class of problems with which man will never

be able to cope."

-- Simon Newcomb, 1903

All these things were "impossible". Just like a 100,000 % increase is. History has taught us one thing, that YOU as the collective term really know nothing.

"Stocks have reached what looks like a permanently high plateau."

-- Irving Fisher, Professor of Economics, Yale University, 1929

[dinarck]

So who you trying to convince?

If things look that bad to you then why are you still here?

WouldnT IT MAKE SENSE FOR YOU TO JUST SELL UP AND FORGET ABOUT IT

I get that a lot. Usually from people who can't show otherwise.

I still hold my dinar. If they do not RD (which they are obviously in the process of doing) then maybe in the long term we may profit. I have explained this a thousand times. I already know there will never be a magical, impossible, overnight 100,000% RV. Does this mean I should sell my dinar? People buy and sell currencies everyday knowing massive RVs are fantasy. Doesn't mean they don't profit from fluctuations in exchange rates over long periods of time.

[bamjack75]

O sorry Vizio. My bad. How silly of me. 70 trillion M2 and 25,000 notes common on the streets must be a sign of something other than a hyperinflated state. Whoops. Sorry I haven't done my research.

Hello Dinarck,

I have a question if you don't mind. I know the M2 numbers state, per CBI,70 trillion; but why has the CBI quit posting the M0 numbers? Hasn't it been about 3 or 4 years since they have posted this? If this is the case, why, IYO, would they do this? Thanks in advance.

[dinarck]

X-rays will prove to be a hoax."

-- Lord Kelvin, president, Royal Society, 1895

"Radio has no future."

-- Lord Kelvin

"Heavier than air flying machines are impossible."

-- Lord Kelvin

"Flight by machines heavier than air is impractical and insignificant, if

not utterly impossible."

-- Simon Newcomb, Director, U.S. Naval Observatory, 1902

"Aerial flight is one of that class of problems with which man will never

be able to cope."

-- Simon Newcomb, 1903

All these things were "impossible". Just like a 100,000 % increase is. History has taught us one thing, that YOU as the collective term really know nothing.

"Stocks have reached what looks like a permanently high plateau."

-- Irving Fisher, Professor of Economics, Yale University, 1929

So you want to compare the invention of aircraft to 100,000% overnight RVs? OK.

Let me ask you this. If Iraq performs a 100,000% RV then why can't any country do it? Why cant Iran? South Korea? Vietnam? Why is Iraq so special? How will economics continue to work when countries can just decide they want their currencies to suddenly be worth 1000 times more? Sorry but this can not ever happen. Has nothing to do with airplanes either.

O sorry Vizio. My bad. How silly of me. 70 trillion M2 and 25,000 notes common on the streets must be a sign of something other than a hyperinflated state. Whoops. Sorry I haven't done my research.

Hello Dinarck,

I have a question if you don't mind. I know the M2 numbers state, per CBI,70 trillion; but why has the CBI quit posting the M0 numbers? Hasn't it been about 3 or 4 years since they have posted this? If this is the case, why, IYO, would they do this? Thanks in advance.

I don't know. Don't really care. The M2 numbers are clear. The value of the dinar is proof alone of its hyperinflated state. I am not saying that you are making the assumption that since Iraq isn't reporting its M0 then it can RV by 1000 times its currenct value by if you are then in my opinion you are mistaken.

[seetrader1]

So we are seeing more and more articles with more and more detail about the new currency. Of course everyone is excited and "we are at the end of this ride" and "go Shabs" and yada yada but has anyone stopped to ask themselves the obvious question? Are they going to exchange 1000 to 1 or are they going to exchange 1 to 1 from old to new currency? Isn't this the most important question?

Well, for one they have already told us numerous times that the exchange will be 1000 to 1 just like a basic redenomination. For two they would never preannounce a 100,000% RV. (Even if there was such a thing) For three they have mentioned Turkey a million times. For four its common sense. For five they have said it won't increase purchasing power. For six they have no way to make their M2 worth 70 trillion USD. (Just that thought alone is ludicrous) There is a thousand more reasons the exchange will be 1000 to 1.

We already know some people's argument that the government and media are lying to the Iraqi people and the world. We also know the argument that the CBI financials are wrong. Just stop to think about those two arguments for a second and then ask yourself how likely that is to be true. Then ask yourself how likely it is that a country like Iraq with a hyperinflated currency is REALLY planning, implementing, and describing daily to their people an upcoming basic redenomination just like has been done nearly a hundred times atround the world by countries in the same hyperinflated predicament that Iraq is in now. You be the judge.

They are going to exchange 1000 to 1...unless they've been flat out lying to their people in all the articles stating that very thing, over the last year and a half. What's it gonna cost me to exchange my 40 25k notes for the new 25's? $150? I'm already in the hole $250. When I go to cut my losses and get out what's that gonna cost me? Looks like I've been taken to the cleaners...only the dealers and Gurus are making any money here. Crap!!!

[cbisinger]

I get that a lot. Usually from people who can't show otherwise.

I still hold my dinar. If they do not RD (which they are obviously in the process of doing) then maybe in the long term we may profit. I have explained this a thousand times. I already know there will never be a magical, impossible, overnight 100,000% RV. Does this mean I should sell my dinar? People buy and sell currencies everyday knowing massive RVs are fantasy. Doesn't mean they don't profit from fluctuations in exchange rates over long periods of time.

Most of do understand that we won't become overnight billionairs however in the long run this currency simply has to increase in value.

Those of us that do find it irksome when somebody sonds of "yet again" about a lop. So what if it lops, just means it's goin to take longer that's all because it must increase in value at some point, maybe we even have to find a way of changing our soon to be old notes into these new to be realeased notes and even then wait another ten years but so long as you can afford to hold the notes it will come good somewhere along the line, nothing is surer.

Sit back, relax, chill out and look at it from the glass is half fool point of view. It's like you've got a garanteed win lottery ticket for some future date that you can claim your purchse price back on any time you like.

Edited July 30, 2012 by cbisinger

[quadkidd1]

O sorry Vizio. My bad. How silly of me. 70 trillion M2 and 25,000 notes common on the streets must be a sign of something other than a hyperinflated state. Whoops. Sorry I haven't done my research.

Sandstorm I agree 100,000%. There is no reason to sell even if you have serious doubts about this deal. The amounts we have into this thing I doubt will be devistating if lost. My whole point was to get people to see the obvious. I still hold my dinar and who knows, maybe they won't go through with the RD but never wil they RV by 100,000%.

Thanks laidback. Your demeanor is always like your name and avatar. Cool as can be.

dinarck,

You are condescending and rude and I wonder how they allow your posts here.

Why you continue to post your rendering of what YOU believe will happen with our IQD is beyond me. I am sure most here know that there is more than one outcome at hand. But nevertheless you relentlessly post your ominous theory. You must feel the need to educate us as to try to pound it in our heads what it is you so profoundly believe. Why not just stop with all the bad vibes and try to bring something.... anything.... positive here. Automatically we know your posts are full of the same thing. Give it a break. I have NO need to debate you or interest either. I am smart enough to know the risks with investing. You seem to have a cruel amusement with raining on the parade. Maybe this surprises you but most here are seeking something positive .

Oh yeah my head is not in the sand either!

Quad

[ijdk]

The only true wisdom is in knowing you know nothing. Socrates

You might be right, but the fact that you are asserting this as undeniable fact declares that you truly know nothing.

[cbisinger]

They are going to exchange 1000 to 1...unless they've been flat out lying to their people in all the articles stating that very thing, over the last year and a half. What's it gonna cost me to exchange my 40 25k notes for the new 25's? $150? I'm already in the hole $250. When I go to cut my losses and get out what's that gonna cost me? Looks like I've been taken to the cleaners...only the dealers and Gurus are making any money here. Crap!!!

I'm assuming nobody put a gun to your head to get involved in this, so who you bitching to... and it aint the Hotel California either, you can leave anytime you like.

[nerd]

X-rays will prove to be a hoax."

-- Lord Kelvin, president, Royal Society, 1895

"Radio has no future."

-- Lord Kelvin

"Heavier than air flying machines are impossible."

-- Lord Kelvin

"Flight by machines heavier than air is impractical and insignificant, if

not utterly impossible."

-- Simon Newcomb, Director, U.S. Naval Observatory, 1902

"Aerial flight is one of that class of problems with which man will never

be able to cope."

-- Simon Newcomb, 1903

All these things were "impossible". Just like a 100,000 % increase is. History has taught us one thing, that YOU as the collective term really know nothing.

What do the predictions about flight have in common and are different from Iraq's currency? Flight is an aspect of physical reality where there are always new things to be discovered that no one thought of before (this is why science is exciting, the discovery of new things). Currency is a system we defined, not that we discovered. So the only way it can change is by those that use it (i.e. the world) to agree to a new definition. That is possible even if very unlikely, but why would the world ever agree to value one particular third world, war torn country that can't even keep the lights on to have its currency valued more than the entire rest of the world combined? It makes no sense.

[cbisinger]

The only true wisdom is in knowing you know nothing. Socrates

You might be right, but the fact that you are asserting this as undeniable fact declares that you truly know nothing.

Yeh your right too, there might be another war then all bets are off and not to too difficult to believe either given the state of the ME!

[seetrader1]

I'm assuming nobody put a gun to your head to get involved in this, so who you bitching to... and it aint the Hotel California either, you can leave anytime you like.

I was told that I was going to be a millionaire. Stevei lied to me. Wife and I already had a house, boat, and car picked out. Ease up.

[bamjack75]

I don't know. Don't really care. The M2 numbers are clear. The value of the dinar is proof alone of its hyperinflated state. I am not saying that you are making the assumption that since Iraq isn't reporting its M0 then it can RV by 1000 times its currenct value by if you are then in my opinion you are mistaken.

Why do you think that the value of the dinar has increased with the increase in the M2?

My assumption is that Iraq's physical currency (M0) is a small percentage of their overall M2 and that the majority of the M2 is electronic and that it can be reduced just as easy as it was increased.

I am not necessarily saying the NID will be 1000 times its current value, but ,IMO, the final result will be appreciated by most, in this forum. The fact that they don't state the M0 numbers is just another example, IMO, of how they are not as transparent as most here, in the Tank, would like to believe.

[dinarck]

Most of do understand that we won't become overnight billionairs however in the long run this currency simply has to increase in value.

Those of us that do find it irksome when somebody sonds of "yet again" about a lop. So what if it lops, just means it's goin to take longer that's all because it must increase in value at some point, maybe we even have to find a way of changing our soon to be old notes into these new to be realeased notes and even then wait another ten years but so long as you can afford to hold the notes it will come good somewhere along the line, nothing is surer.

Sit back, relax, chill out and look at it from the glass is half fool point of view. It's like you've got a garanteed win lottery ticket for some future date that you can claim your purchse price back on any time you like.

I agree with all of your post. However, I don't think me stating the truth about the redenomination is somehow wrong while we have a vast majority on this site spouting off 100,000% RV after every redenomination article.

dinarck,

You are condescending and rude and I wonder how they allow your posts here.

Why you continue to post your rendering of what YOU believe will happen with our IQD is beyond me. I am sure most here know that there is more than one outcome at hand. But nevertheless you relentlessly post your ominous theory. You must feel the need to educate us as to try to pound it in our heads what it is you so profoundly believe. Why not just stop with all the bad vibes and try to bring something.... anything.... positive here. Automatically we know your posts are full of the same thing. Give it a break. I have NO need to debate you or interest either. I am smart enough to know the risks with investing. You seem to have a cruel amusement with raining on the parade. Maybe this surprises you but most here are seeking something positive .

Oh yeah my head is not in the sand either!

Quad

Wow!!! I am sorry the truth hurts your feelings so much. Why is it that "positive" posts that are completely false are ok in your book but "negative" post that are fact are horrible? I think maybe emotion has gotten the upper hand on logic. Not trying to be rude or condescending just pointing out the obvious. Sorry.

[chuksan]

Good evening! Well I don't post much, but have been in this since 2006. In 2006 you could go to the CBI website and see all of the new Iraqi Dinars! All the way down to the coins. Are they printing new? Or releasine the old New Dinars. Cbi changes their websiite to not show the other denominations, however those of us that have seen them are intrigued!!

[seetrader1]

Good evening! Well I don't post much, but have been in this since 2006. In 2006 you could go to the CBI website and see all of the new Iraqi Dinars! All the way down to the coins. Are they printing new? Or releasine the old New Dinars. Cbi changes their websiite to not show the other denominations, however those of us that have seen them are intrigued!!

They are printing new...Should be released in January.

[fnbplanet]

A LOT of articles out now about the currency! Some with talk about them needing to agree on the design, ALL of them talking about the first of the year or later.

If true, all of our hopes for a 2012 RV hang on them having a stash of the current currency (did I just type that?) stashed away to use in the interim. I can't see how they could raise the value to a buck or more with the current denominations, unless.......

....there is a plan to use buttload (technical term) of USD to bridge the time gap. Doing that would entail:

1. The US Government helping them out with their supply. We probably would, as we've gotten very proficient at printing it.

2. The Iraqi people agreeing to accept our help. Their GOI (including Sadr) would have to go along with that too.

3. Everyone accepting the fact that most of it would eventually end up in Iran and Syria. Don't know if Iraq and the US are cool with that.

If anyone has, or can find, info (as in FACTS) about them actually having printed other denoms, in 2003 to 2004, or even more recently, now would be the time to put it out there/here.

The possibility is also there that the DeLaRue machines that they purchased late last year were to print the current currency (ooops.) lower denoms. The approved designs on the old stuff would still be "constitutionally sound" if they were considered "grandfathered" in.

I hope they're sittin' on a big ol' cash stash, myself.

[caz1104]

Nice opinion piece from someone with an axe to grind. Just like any other opinion post take it with a grain of salt and don't let anyone that you don't know influence your financial decisions. Best to all even those that are no longer vested.