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Parliamentary Finance: Central Bank starts during the current year measures the deletion of zeros from currency


yota691
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So to be clear by removing 3 zeroes from notes. The 25,000 note and will be exchanged for new 25 notes but at a new ratio of say 1.175:1 instead of 1175:1.  I won't lose any money (value is retained minus the trading fees), and in the long run I may make some profit if the Dinar appreciates naturally vs the $. But, the bottom line, I will not become a millionaire. :blush:
 

 

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 you need to get an eraser and erase the zeros now before its to late



remove them beforehand just to be safe ..



they did an exchange in the beginning of a war in the middle of a war zone , wonder why its difficult for them now .. last time they were done inside 3 months

 

 

Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is withdrawn about 30 trillion dinars in circulation in the Iraqi market, then discarded and replaced with a new currency

Read more: http://dinarvets.com/forums/index.php?/topic/146032-parliamentary-finance-central-bank-starts-during-the-current-year-measures-the-deletion-of-zeros-from-currency/#ixzz2QN9erfWN

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Central bank governor: We reject the accusations against the banks that deal with the World

 Thu Jun 24, 2010 8:31 am

"....Denied the Iraqi Central Bank Governor Shabibi force the Iraqi dinar has been affected by the process of lifting the zeroes that the central bank implemented during the coming period, noting that the process of lifting the zeroes will be gradual and thoughtful it without having any negative impact on the Iraqi currency.//"

 

http://al-iraqnews.net/new/local-news/14286.html

 

 

 

IF delete 3 zeros is a LOP, how do you LOP gradually. One zero at a time...? :) 

 

read this when they say gradually lifting the zeros they mean people turning in there notes with the zeros on them for the none zeros new notes  http://goo.gl/lHHeC

 

Dr Gondwe added that once the new denominations have been rolled out, the old denominations will have to be withdrawn from circulation gradually.

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read this when they say gradually lifting the zeros they mean people turning in there notes with the zeros on them for the none zeros new notes  http://goo.gl/lHHeC

 

Dr Gondwe added that once the new denominations have been rolled out, the old denominations will have to be withdrawn from circulation gradually.

Is this a lop?

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"why would a comman person need a 25,000 note if they were worth a dollar per dinar .."

 

Because if a bag of camel chow cost 25,000 dinar before an RV, it would still cost 25,000 dinar after an RV of any size. Inside Iraq, a dinar is a dinar. If the currency suddenly becomes worth more dollars, it isn't going to make stuff inside Iraq cheaper. If I'm an Iraq camel chow dealer, I'm not going to suddenly start giving camel chow away. Inflation would run rampant in Iraq.



The only people who stand to make big money from an RV are those of us outside of Iraq who hold dinar we paid almost nothing for and want to exchange for dollars.



Along with a huge RV would come two laws from the GOI.

 

1. Dinar is the only legal currency in Iraq.

2. An Iraqi can only exchange a very limited amount of Dinar for dollars.

Edited by RVPleaseToday
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"why would a comman person need a 25,000 note if they were worth a dollar per dinar .."

 

Because if a bag of camel chow cost 25,000 dinar before an RV, it would still cost 25,000 dinar after an RV of any size. Inside Iraq, a dinar is a dinar. If the currency suddenly becomes worth more dollars, it isn't going to make stuff inside Iraq cheaper. If I'm an Iraq camel chow dealer, I'm not going to suddenly start giving camel chow away. Inflation would run rampant in Iraq.

The only people who stand to make big money from an RV are those of us outside of Iraq who hold dinar we paid almost nothing for and want to exchange for dollars.

Along with a huge RV would come two laws from the GOI.

 

1. Dinar is the only legal currency in Iraq.

2. An Iraqi can only exchange a very limited amount of Dinar for dollars.

my hope is there isn't much in circulation.... again a hope

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"why would a comman person need a 25,000 note if they were worth a dollar per dinar .."

 

Because if a bag of camel chow cost 25,000 dinar before an RV, it would still cost 25,000 dinar after an RV of any size. Inside Iraq, a dinar is a dinar. If the currency suddenly becomes worth more dollars, it isn't going to make stuff inside Iraq cheaper. If I'm an Iraq camel chow dealer, I'm not going to suddenly start giving camel chow away. Inflation would run rampant in Iraq.

The only people who stand to make big money from an RV are those of us outside of Iraq who hold dinar we paid almost nothing for and want to exchange for dollars.

Along with a huge RV would come two laws from the GOI.

 

1. Dinar is the only legal currency in Iraq.

2. An Iraqi can only exchange a very limited amount of Dinar for dollars.

 

Items one and two could not happen if it is internationally traded. We already know several countries hold dinar in their reserves.

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"why would a comman person need a 25,000 note if they were worth a dollar per dinar ..[/size]"

 

Because if a bag of camel chow cost 25,000 dinar before an RV, it would still cost 25,000 dinar after an RV of any size. Inside Iraq, a dinar is a dinar. If the currency suddenly becomes worth more dollars, it isn't going to make stuff inside Iraq cheaper. If I'm an Iraq camel chow dealer, I'm not going to suddenly start giving camel chow away. Inflation would run rampant in Iraq.

The only people who stand to make big money from an RV are those of us outside of Iraq who hold dinar we paid almost nothing for and want to exchange for dollars.

So in your explanation.....a person in iraq that has a million dinar (worth about a thousand dollars before and after a RV in iraq) can get on a plane and travel to the US and turn their thousand dollars into a million (if it's a 1:1 RV) That makes no sense. We would have a whole new immigration problem. You just thought Mexican Immigration was a problem.........lol
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Yeah, but thats not going to change the fact that your 1 million dinar is only worth $1000. If that's the case might as well sell your dinar back to the dealers. Or am I looking into this all wrong?

they have stated many of time there is 30 trillion in circulation thats alot

 

the US dollar only has 1.8 trillion in circulation

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Central bank governor: We reject the accusations against the banks that deal with the World

 Thu Jun 24, 2010 8:31 am

"....Denied the Iraqi Central Bank Governor Shabibi force the Iraqi dinar has been affected by the process of lifting the zeroes that the central bank implemented during the coming period, noting that the process of lifting the zeroes will be gradual and thoughtful it without having any negative impact on the Iraqi currency.//"

 

http://al-iraqnews.net/new/local-news/14286.html[/size]

 

 

 

IF delete 3 zeros is a LOP, how do you LOP gradually. One zero at a time...? :) 

Thanks for that article. The CBI has had several articles stating that they would introduce lower denoms and that they would pull in the large notes over a period of time while using both old and new currency together...... I think it was a two year period. I just wish I could find that article so I could repost it.

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slow your roll guys....we do not know what will happen....we can speculate all day and all night....truth is we just do not know....NO ONE KNOWS....ZT LEAST NO ONE  THAT IS GOING TO TELL US.

 

Keep your britches on and just sit back and try not to go crazy. Most of us have stepped away from this over the years. If you are new, do research and quit reading the crap the gurus spew. 

 

The chances are this is a long time coming yet. Learn from your choice in purchasing Iraqi Dinar. I have learned soooo much about other countries, their government, or lack of, currency, and the UN. Not to mention PATIENCE.

Edited by SnowGlobe7
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"Items one and two could not happen if it is internationally traded. We already know several countries hold dinar in their reserves."

 

What currency can you buy stuff with in the United States?

 

 Item one states to me the only legal currency is Dinar, in Iraq, so what happens with all the other countries that have invested in Iraq, they exchange their 'petro dollars', natural gas dollars, and what ever else is available to them into Dinar, which has no value?

Item two states to me that they will 'cap' what you can exchange...

Edited by greeneyedlady
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I guess were going to find out what's going to happen. I spent hours fighting with my fiancé father and a good friend of mine on this exact subject. I thought I was dead right on this. Which means the VND won't be much of a profit either.

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Wow, one article about lifting zeroes and its like being in the LOP-ster Tank! Everybody C A L M D O W N! It sounds like everyone is in a freakin panic. Doom and Gloom, Please.

It has been stated that there will be conflicting articles all the way up to however and whenever this happens. They are not going to send out a telegram, so look at the real news article out of the CBI and legitimate sources and you will get a better picture. I for one am not concerned but I am worn down and ready for this to be over.

Hang in there. Be Positive.

Go RV or Float!

Edited by Tripphood
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