For the Lopsters & Naysayers!.....

[makecents]

A substantial R/V would have the same effect, but more money spent out...

Some countries allow for extended length of times during re-denominations. But for most speculators seeing that any gains made will be little, they may decide to try their luck elsewhere and exchange out.

Yea a whole LOT "more money spent out".  An RD may well cause the effect you bring up, but at least their reserves fully cover it. Not so with an RV which will be uncovered so to speak by the size of the RV given that they are just at 105% or so now.  Even an RV to one penny (12x) would require nearly an additional $700B USD reserves to be covered at the same level it is now.

Edited March 21, 2013 by makecents

[Darin]

Yea a whole LOT "more money spent out".  An RD may well cause the effect you bring up, but at least their reserves fully cover it. Not so with an RV which will be uncovered so to speak by the size of the RV given that they are just at 105% or so now.  Even an RV to one penny (12x) would require nearly an additional $700B USD reserves to be covered at the same level it is now.

 

Yep - but I don't think the CBI likes when their reserves decrease significantly. Like when the USD auctions were high as cash was funneled to Iran & Syria.

[makecents]

Yep - but I don't think the CBI likes when their reserves decrease significantly. Like when the USD auctions were high as cash was funneled to Iran & Syria.

Agreed.  Especially as I think the Iranians and Syrians that wanted dollars were willing to take lower rates, i.e. offer more dinars per dollar pushing the street rate down and encouraging the whole process by allowing a profit to be made by buying dollars at the bank and selling them to foreigners.

[sandyf]

I never said that the old notes would equal $1.. Not sure where you had to quote me and state that. You may want to go back and re-read what I wrote.

I am quite sure 99% of the members here understand what a R/D entails...

 

I was simply saying... SPECULATORS will likely ask for OTHER hard currencies (not newly re-denominated dinars) upon a re-denomination due to a reduced ROI %.

Which will simply deplete the CBI's foreign cash reserves proportionately. Therefore, if a high % of dinars in existence are in speculator's hands, a R/D will reduce their foreign cash reserves.

 

A better question to ask: CBI announces detailed plans that are approved to start the re-denomination process. They give us 90 days to exchange the currency before it is demonetized. Who here is going to run to their bank and say "I want some of them new dinars w/o the 000s for my dinars w/ the 000s."? Likely none of us, we will simply take our USD or whatever country we are from and get our own domestic currency or a currency we would rather exchange it into. (I'm just doubting many of us would go for the new re-denominated currency)

 

Some may stay for the simple hope/dream that they bring their value to around their old rates or near Kuwait's rate. I wouldn't sit & hold for that hope due to the idea that they have publicly stated that they want to be on par with the $1.

 

A substantial R/V would have the same effect, but more money spent out...

Some countries allow for extended length of times during re-denominations. But for most speculators seeing that any gains made will be little, they may decide to try their luck elsewhere and exchange out.

 

Very unlikely that this would be possible, the IQD will no longer have a recognised rate of exchange. The only rate of exchange would be 1000 IQD for 1 of the new ISO designated dinar.

yes it would put the ONLY THE NEW IQD at 1 dollar  not the old ones we all have.

 

No new IQD. If they follow convention the code would be 'IQ' plus the second letter of 'dinar'.

[4aprofit]

We will see wont we boys?....

[Darin]

Very unlikely that this would be possible, the IQD will no longer have a recognised rate of exchange. The only rate of exchange would be 1000 IQD for 1 of the new ISO designated dinar.

 

No new IQD. If they follow convention the code would be 'IQ' plus the second letter of 'dinar'.

If that is how it works, than the steps would be more simple.

Convert IQD to IQI to USD.

EIther way, end result is us walking away with a different hard currency that we desire.

[4aprofit]

Whatever Iraq does will not be announced like some think...as per one figuring out exactly how and what they will do...especially if it were to become a  windfall for us...as it would not work if they told us...

[makecents]

Very unlikely that this would be possible, the IQD will no longer have a recognised rate of exchange. The only rate of exchange would be 1000 IQD for 1 of the new ISO designated dinar.

 

Sure when an RD eventually occurs it won't make banks accept IQD, but the same dealers that are selling it now will likely be happy (for yet another spread) to take it back to Iraq for you during the exchange period.  Its possible that sort of exchange will be blocked and IQD holders will be screwed, but I'd guess that is unlikely.  But the spread will add to the lose.

Edited March 22, 2013 by makecents

[dontlop]

Sure when an RD eventually occurs it won't make banks accept IQD, but the same dealers that are selling it now will likely be happy (for yet another spread) to take it back to Iraq for you during the exchange period.  Its possible that sort of exchange will be blocked and IQD holders will be screwed, but I'd guess that is unlikely.  But the spread will add to the lose.

wrong

[Darin]

Sure when an RD eventually occurs it won't make banks accept IQD, but the same dealers that are selling it now will likely be happy (for yet another spread) to take it back to Iraq for you during the exchange period.  Its possible that sort of exchange will be blocked and IQD holders will be screwed, but I'd guess that is unlikely.  But the spread will add to the lose.

Well, many of us bought through exchange dealers with crazy mark-ups, but we got what appears to be un-circulated bills.

Banks did sell at one time, and I am sure that some still do and would continue to do so through a R/D.

Than we get the opportunity to basically shop for rates - who offers the best spread to reduce the most % of loss.

 

Banks may be better at offering better rates than a dealer would.

It would just be a matter of finding those banks that still deal with it. 

The less time allowed for exchange during a R/D the harder this may be, but if the window is longer the pressure won't be as high.

Regardless, once it is official and has begun, I would exchange at a bank that would allow it to be done and walk away.

[sandyf]

Whatever Iraq does will not be announced like some think...as per one figuring out exactly how and what they will do...especially if it were to become a  windfall for us...as it would not work if they told us...

 

This is not true, if redenomination is the end result then everyone will be well aware a long time in advance. it is very unlikely that Iraq could be ready before 1st  Jan 2015. Indonesia announced public consultation about 12 months before planned implementation. Iraq is nowhere near that stage yet.

 

Revaluation is a different scenario altogether, they are always prepared in secret. I just have difficulty in seeing how the preparations for an RV of the magnitude being discussed could be carried out in secret. Nobody seems to address the practical problems of such a move.

 

Everyone is talking about salaries at a new rate but how is that to be achieved without people knowing about it. I used to implement business software and you can take it from me it is not a 5 minute job to make the changes. That is only one of the many accounting problems that would have to be overcome.

[4aprofit]

Like I said, if there is a windfall for anyone, as per accomodating off of their currency, it wont be announced!...Let's put this in another perspective...if Iraq were to RV their currency...let's say next Monday...does anyone think that they would actually come out on Friday and say that they are fixing to Revalue...and that the value of their currency is going to rise?....There would'nt be a dinar to be found!...It would make a liquidity cash run on their currency!...And the plan would'nt work!...

 

What you are hearing from Iraq on many of their stances on the currency...is about par for the course, and as for the naysayers...especially with their pumped up presence...and then all the negative articles that keep coming out, of which many are recycled and regurgitated...but they keep them coming back up over and over again...folks, all this is to deter specualtion...if it were not so, none of this would exist...as nearly all of it is baseless and lacks substinence....most of it is like a broken record that just keeps playing the same thing over and over again..

 

P.S...I like it, as if there were no oppostion...on something that has no reason to have opposition on, or yet, as this is not over yet as per the finality of this thing, then I would'nt feel that I were in the right place at the right time like I know now that I am..right now!...As you just cannot have this much crying and nashing of teeth over something like this unless there is something good hiding behind all of this...

Edited March 22, 2013 by 4aprofit

[sandyf]

Like I said, if there is a windfall for anyone, as per accomodating off of their currency, it wont be announced!...Let's put this in another perspective...if Iraq were to RV their currency...let's say next Monday...does anyone think that they would actually come out on Friday and say that they are fixing to Revalue...and that the value of their currency is going to rise?....There would'nt be a dinar to be found!...It would make a liquidity cash run on their currency!...And the plan would'nt work!...

 

What you are hearing from Iraq on many of their stances on the currency...is about par for the course, and as for the naysayers...especially with their pumped up presence...and then all the negative articles that keep coming out, of which many are recycled and regurgitated...but they keep them coming back up over and over again...folks, all this is to deter specualtion...if it were not so, none of this would exist...as nearly all of it is baseless and lacks substinence....most of it is like a broken record that just keeps playing the same thing over and over again..

 

P.S...I like it, as if there were no oppostion...on something that has no reason to have opposition on, or yet, as this is not over yet as per the finality of this thing, then I would'nt feel that I were in the right place at the right time like I know now that I am..right now!...As you just cannot have this much crying and nashing of teeth over something like this unless there is something good hiding behind all of this...

Move the goal posts as much as you want, at the end of the day there are several possible outcomes.

 

By the way I did not see your explanation on how the accounting problems would be resolved.

Edited March 22, 2013 by sandyf

[sandstorm]

Like I said, if there is a windfall for anyone, as per accomodating off of their currency, it wont be announced!...Let's put this in another perspective...if Iraq were to RV their currency...let's say next Monday...does anyone think that they would actually come out on Friday and say that they are fixing to Revalue...and that the value of their currency is going to rise?....There would'nt be a dinar to be found!...It would make a liquidity cash run on their currency!...And the plan would'nt work!...

 

What you are hearing from Iraq on many of their stances on the currency...is about par for the course, and as for the naysayers...especially with their pumped up presence...and then all the negative articles that keep coming out, of which many are recycled and regurgitated...but they keep them coming back up over and over again...folks, all this is to deter specualtion...if it were not so, none of this would exist...as nearly all of it is baseless and lacks substinence....most of it is like a broken record that just keeps playing the same thing over and over again..

 

P.S...I like it, as if there were no oppostion...on something that has no reason to have opposition on, or yet, as this is not over yet as per the finality of this thing, then I would'nt feel that I were in the right place at the right time like I know now that I am..right now!...As you just cannot have this much crying and nashing of teeth over something like this unless there is something good hiding behind all of this...

if this isnt debatable for you......then dont engage in the conversation. your complaining...but your bringing it on yourself. if your absolute in your position.....then let it be. let others talk and debate...who wish to learn something. you spend a lot of time...trying to discredit people. theres no need for that.

[gatoraces]

if this isnt debatable for you......then dont engage in the conversation. your complaining...but your bringing it on yourself. if your absolute in your position.....then let it be. let others talk and debate...who wish to learn something. you spend a lot of time...trying to discredit people. theres no need for that.

spot on

[makecents]

Like I said, if there is a windfall for anyone, as per accomodating off of their currency, it wont be announced!...Let's put this in another perspective...if Iraq were to RV their currency...let's say next Monday...does anyone think that they would actually come out on Friday and say that they are fixing to Revalue...and that the value of their currency is going to rise?....There would'nt be a dinar to be found!...It would make a liquidity cash run on their currency!...And the plan would'nt work!...

 

What you are hearing from Iraq on many of their stances on the currency...is about par for the course, and as for the naysayers...especially with their pumped up presence...and then all the negative articles that keep coming out, of which many are recycled and regurgitated...but they keep them coming back up over and over again...folks, all this is to deter specualtion...if it were not so, none of this would exist...as nearly all of it is baseless and lacks substinence....most of it is like a broken record that just keeps playing the same thing over and over again..

 

P.S...I like it, as if there were no oppostion...on something that has no reason to have opposition on, or yet, as this is not over yet as per the finality of this thing, then I would'nt feel that I were in the right place at the right time like I know now that I am..right now!...As you just cannot have this much crying and nashing of teeth over something like this unless there is something good hiding behind all of this...

Your stance here is a bit inconsistent.  On the one hand you say an RV will never be announced, and only a tiny number of folks will even know about it, thus no prep of any kind can be made (I agree though it only comes into play for tiny RVs since huge ones's can't happen).  On the other you claim negative articles are being made purposefully due to the RV being near.  But how do the article writers know the RV is near if no one will know about an RV until it occurs?

Edited March 22, 2013 by makecents

[hame55]

What many fail to realise is that in the event of an RD the IQD would cease to be a recognised currency. The Technical Guidelines will spell out the arrangements for exchange. If they were to follow the Zambian template then there will be no facility for exchange outside the country.

You may have extreme difficulty getting anything for the IQD that you hold. If speculators are unable to exchange then that could only be of benefit to the CBI.

 

Have to be open minded to the worst case scenario.

Actually, this sounds as if it's the best-case scenario - if RD is out of the question, they will RV. (of course they could use the dollar until I die...)  But that is good news to me! Why would they not want it internationally exchanged?

Is there another way to RD and have it exchangeable?

[dontlop]

if this isnt debatable for you......then dont engage in the conversation. your complaining...but your bringing it on yourself. if your absolute in your position.....then let it be. let others talk and debate...who wish to learn something. you spend a lot of time...trying to discredit people. theres no need for that.

you making up the rules here now ? i dont think anyone is asking for your coments . hes simply stating his point of view .

if you dont like what hes saying  then you dont engage in the conversation .. hows that ?

Move the goal posts as much as you want, at the end of the day there are several possible outcomes.

 

By the way I did not see your explanation on how the accounting problems would be resolved.

dont sweat the small stuff .. if someone says something you think they owe you more ? .. no one owes any explainations for their opinions ..

Your stance here is a bit inconsistent.  On the one hand you say an RV will never be announced, and only a tiny number of folks will even know about it, thus no prep of any kind can be made (I agree though it only comes into play for tiny RVs since huge ones's can't happen).  On the other you claim negative articles are being made purposefully due to the RV being near.  But how do the article writers know the RV is near if no one will know about an RV until it occurs?

your the one whos been inconsistent.. you say the opposit of what  any non lopster says .. just for the sake of arguement .. you are the one whos all over the place ..

Like I said, if there is a windfall for anyone, as per accomodating off of their currency, it wont be announced!...Let's put this in another perspective...if Iraq were to RV their currency...let's say next Monday...does anyone think that they would actually come out on Friday and say that they are fixing to Revalue...and that the value of their currency is going to rise?....There would'nt be a dinar to be found!...It would make a liquidity cash run on their currency!...And the plan would'nt work!...

 

What you are hearing from Iraq on many of their stances on the currency...is about par for the course, and as for the naysayers...especially with their pumped up presence...and then all the negative articles that keep coming out, of which many are recycled and regurgitated...but they keep them coming back up over and over again...folks, all this is to deter specualtion...if it were not so, none of this would exist...as nearly all of it is baseless and lacks substinence....most of it is like a broken record that just keeps playing the same thing over and over again..

 

P.S...I like it, as if there were no oppostion...on something that has no reason to have opposition on, or yet, as this is not over yet as per the finality of this thing, then I would'nt feel that I were in the right place at the right time like I know now that I am..right now!...As you just cannot have this much crying and nashing of teeth over something like this unless there is something good hiding behind all of this...

thanks for your comments .dont worry about the attack dogs .. post freely .. because 3 or 4 people are attacking you at the same time ..they must feel one isnt succeeding alone .. ..

 

just remember theres 10s of thousands of member  here at dv .. and only a hand full of haters are attacking you .i guess you hit a nerve  .

[hame55]

Like I said, if there is a windfall for anyone, as per accomodating off of their currency, it wont be announced!...Let's put this in another perspective...if Iraq were to RV their currency...let's say next Monday...does anyone think that they would actually come out on Friday and say that they are fixing to Revalue...and that the value of their currency is going to rise?....There would'nt be a dinar to be found!...It would make a liquidity cash run on their currency!...And the plan would'nt work!...

 

What you are hearing from Iraq on many of their stances on the currency...is about par for the course, and as for the naysayers...especially with their pumped up presence...and then all the negative articles that keep coming out, of which many are recycled and regurgitated...but they keep them coming back up over and over again...folks, all this is to deter specualtion...if it were not so, none of this would exist...as nearly all of it is baseless and lacks substinence....most of it is like a broken record that just keeps playing the same thing over and over again..

 

P.S...I like it, as if there were no oppostion...on something that has no reason to have opposition on, or yet, as this is not over yet as per the finality of this thing, then I would'nt feel that I were in the right place at the right time like I know now that I am..right now!...As you just cannot have this much crying and nashing of teeth over something like this unless there is something good hiding behind all of this...

Well put!

Thanks for your thoughts, Profit. I agree. It is interesting how they must communicate about the subject among themselves and for the few who know, still maintain a facade of an RD (unless of course they plan to RD - LOL)

 

It could be that those who know must cover up an RV for everyone else, Iraqis included, hence the ongoing debate over the zeros as an RD. 

 

What I am worried about is they don't have to do a thing "soon." They can use dollars for quite a long time.

 

I have not heard a strong argument for them "having" to switch to dinar from anyone on these boards. Pride, being internationally traded? (no - the dollar is already traded) 

[makecents]

your the one whos been inconsistent.. you say the opposit of what  any non lopster says .. just for the sake of arguement .. you are the one whos all over the place ..

Even if that were true, my being inconsistent is not an answer to someone else being so.  And its not true, show me posts where I have not consistently said a huge sudden RV is impossible or in some way "been all over the place".

[dontlop]

Even if that were true, my being inconsistent is not an answer to someone else being so.  And its not true, show me posts where I have not consistently said a huge sudden RV is impossible or in some way "been all over the place".

so you want the statement to be limited to one  thing ..  "to where you said a huge sudden RV is impossible or in some way"  and that means your consistant on everything you say ..lol ..yes we all know your a lopster and should be locked up in the lopster tank .. you do nothing but cause problems for people to post their opinions . thats all your consistent on .. you are a lopster .. but your explainations are all over the place .. you say anything any time to promote  a lop.

 

[makecents]

but your explainations are all over the place .. you say anything any time to promote  a lop.

 

Please SHOW inconsistent statements from me.  Also I am not promoting an RD, I dont know if they will execute one or not,I know only that they SAY they want to do so, and an RD is certainly feasible.

Edited March 22, 2013 by makecents

[dontlop]

  Also I am not promoting an RD, I dont know if they will execute one or not,I know only that they SAY they want to do so, and an RD is certainly feasible.

if you dont know than quit acting as if your an authority on the subject .. we all know you dont know .. but you seem to be the only one who is relentless in  presuing that . you turn every thread into mud slinging .. if you dont agree , you dont agree .. thats acceptable .. but to sit  for hours just to tear down someone elses opinion .. is the reason your analogy gets tore down ..

 

try just simply posting your own view  on a thread without  attaching it to anothers post that you disect  . to each his own .

 

i want to read anothers opinion .. you want to tear them apert .. you calm down im sure others would calm down .. we are all aware that this investment is not a guarentee . is that to hard  to understand

 

 

if you have an opinion .. post it . leave others opinions out of it . just post yours .. or you will get the mud slung right back at your opinion.. wouldnt that be easier than the back and fourth nonsense. you are not our teacher .

 

you came back under this screen name  last week and the first thing you did was attack southwest florida guy .. the next was attack me .. and you havent stopped since . finding anyone with any information they dug up  that could be a possibility and   instead of taking that information and trying to build on it .. you  start the mud slinging

 

 have a nice day

[umbertino]

Your stance here is a bit inconsistent.  On the one hand you say an RV will never be announced, and only a tiny number of folks will even know about it, thus no prep of any kind can be made (I agree though it only comes into play for tiny RVs since huge ones's can't happen).  On the other you claim negative articles are being made purposefully due to the RV being near.  But how do the article writers know the RV is near if no one will know about an RV until it occurs?

Harshly logical.

[makecents]

you came back under this screen name  last week and the first thing you did was attack southwest florida guy .. the next was attack me .. and you havent stopped since . finding anyone with any information they dug up  that could be a possibility and   instead of taking that information and trying to build on it .. you  start the mud slinging

 

 have a nice day

Wow.  You dontlop are the one constantly talking about posters, I (with a very few exceptions, no one is perfect) comment on the CONTENT, i.e. about the dinar and the possibility of lack of it for an RV or an RD or whatever.  I in no way attacked southwest florida guy, I pointed out flaws in the content of his post and said nothing about him personally.  What I talked about then was showing that the idea that Iraq's gold exports could exceed the value of its oil exports is clearly false and I offered a clear explanation for why that is so.  That isn't personal or mud slinging, that is discussion about the dinar and Iraq.