Adam Montana 3-26-10 Awaiting Election results ? c(_) chit chat 5am-9am PST

[outback7]

The lop has been killed, murdered, and buried.....its not going to happen Iraq has said its not going to happen........before you post this kind of thing please do your research to give yourself peace of mind......This lop thing will not happen!!!!!!

Check out this article in the "Iraq Business News" at

http://www.iraq-businessnews.com/?p=1805

The way it was explained indicated that CBI is saying that the 25,000 IQD banknote is targeted to have the three zeros removed (obviously from the right) and that the resulting 25 dinars will be worth $1.17 U.S., making 1 dinar equal $.0468. Wow, what a deal, eh?

If you have 10,000,000 dinar, their exchange value will be $11,700.

That sucks!

Do you have any evidence that this is true or not?

[Christo1972]

hey that would be more than i had before.

[Rocker]

The rebase means you will not gain.that10,000,000 cost around 10,500 . That is 1953 less than you payed Rocker

[quadraph0nic]

And where is the law that says this? So unless you see a law for this or they somehow wind up with super inflation situation, i am tired of hearing this LOP theory. I know it, I get it, but you need to understand they can't just LOP the money overnight. They HAVE to make a LAW, and until you see legislation coming down for that, why worry?

True Orion, but if you held 10,000,000IQD before the redenomination, you will only have 10000IQD after, and will be able to exchange that for $8547.

[quadraph0nic]

There is no math to do, this is all FIAT money anyway. Whats backing the Dinar is the promise they can pay it back because they posses an insane amount OIL. What backs the dollar? Our promise will pay it back and that we will kick your A$$. The real problem is all the cash dinar taken out of Iraq illegally to supply these dinar markets where these dealers buy from. I think these articles are meant to scare you. I think another scary thing is whether or not CBI will honor all that cash dinar taken out of their country because of their law, there is no obligation on their part to take any of it back. If you look at warka bank, they are listed on CBI's website. I can feel good about that. Can you say the same thing about your dealer? See, I can't feel good about the mil in dinar cash I'm holding but I feel better that most of my investment is with Warka. So if you want to believe the LOP go ahead because you must believe everything you read. Good Luck

Not trying to hurt your feelings Willie, but its not about HOPE. Of course I HOPE it will RV. I just want people to understand what the article really said. It did not say that 10MIL of todays dinar would be worth $800K. Read the entire article, do the math and you'll find that 10MIL of todays IQD will equal about $8500. And Willie, if you'll please keep your emotions in check and re-read my post, you'll see that I said "Im not saying it will redominate". So, yes, by my own admission, I dont know whether it will redenominate (LOP), or revalue.

[SNB]

Does anyone else hold $25,000 notes? I'm getting a little concerned reading these posts.

Is there any chance of trading these for smaller denoms at this late date?

[willie]

Quad I happy i bought all my dinar from the bank and not these outside sources.... Also Tex or anyone out there can anyone tell at any point in time that any country has done a LOP and had any kind of success???? go ahead ill wait......... Russia was the last

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.

Thats what Iraq wants to do harm a majority of poor and violent people that will rise up and over throw anyone who would do this you think things a rough there now LOP the currency and Iraq will become **** on earth more than it ever has before

[krucialmix]

Does anyone else hold $25,000 notes? I'm getting a little concerned reading these posts.

Is there any chance of trading these for smaller denoms at this late date?

I think that would be almost EVERYONE here SNB. No chance (that I know of). I think we'll be OK. Misinformation.

[marc2]

10,000,000/25k = 400 25 dinar notes or 10,000 dinar * 1.17 = 11,700. dollars

[serpico007]

Its amazing how many people struggle with math. lol

[wilecoyote]

lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop,

Tired yet? lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop,

enough yet?, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop, lop, no-lop,

and the winner is? NO-LOP.

[DgreenFSU66]

Check out this article in the "Iraq Business News" at

http://www.iraq-businessnews.com/?p=1805

The way it was explained indicated that CBI is saying that the 25' date='000 IQD banknote is targeted to have the three zeros removed (obviously from the right) and that the resulting 25 dinars will be worth $1.17 U.S., making 1 dinar equal $.0468. Wow, what a deal, eh?

If you have 10,000,000 dinar, their exchange value will be $11,700.

That sucks!

I just want to correct your misunderstanding of the article you read.

The article in part is:

Re-basing the Iraqi Dinar

Posted on 26 March 2010. Tags: Banking & Finance, Finance, Industry & Trade, Iraq, Iraqi, Ministry of Finance

The Central Bank of Iraq is planning to rebase the Iraqi dinar but hasn’t decided yet on the timing of the move, the bank said in a statement last week. Affirms its commitment to its strategic projects, particularly knocking three zeroes from the Iraqi dinar,” the statement said.

“Despite the technical and logistical preparations for the project we have yet to decide on suitable timing to implement the project,” it said. Choosing a suitable time wouldn’t be linked to economic aspects only, but rather to the security situation as well, it added.

“Most commercial Insurance Policies for Iraqi risks have monetary amounts in US dollars” comments Rob Edwards, Chief Operating Officer of AAIB Insurance Brokers. “And this goes for sums insured, indemnity limits, deductibles and premiums, so there will be little effect for the majority of policies.”

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.

Therefore the exchange rate is 1/1.17 = .8547 $/IQD. So that 10,000,000 IQD x .8547 = $8,547,000

Thats right, then 1 Dinar is .86 USD... that means a 140 USD purchase of 100,000 Dinars would then be worth 86 Dollars (100,000 dinars, lop the 000, then you have 100 Dinars RV @ .86 USD)... which is a LOSS. They cant LOP, people would lose all faith in BANKING in Iraq. This is just some guys fear factor being played out on the WWW.

[DgreenFSU66]

10,000,000/25k = 400 25 dinar notes or 10,000 dinar * 1.17 = 11,700. dollars

Marc, you have it reversed. 1 Dinar would net .86 USD. 1 USD would net you 1.17 Dinar.

[Christo1972]

As I said before patients people!!

[anaya31]

this does not make since at all

[anaya31]

when are we goni to get the BOTTOM LINE!!!

[anaya31]

What is the Lop