BondLady - They're Dropping The Zeros And Increasing The Values !

[ALBUNDY]

handy: " issue a 100 dinar note that will be equivalent to $100 " , Is " 100 dinar note=$100 " issued before or after removing 3 zeros?

 

 

 

Iraq keeping banknotes unchanged throughout 2013

 

 

Azzaman, April 27, 2013

 

 

Iraq’s Central Bank will not remove three zeros from its currency, the dinar, a move it had said it wanted to implement in 2013.

The bank had drawn up plans to start replacing current banknotes with new ones, deleting three zeros and reducing the volume of dinars in circulation with each four billion dinars substituted by one billion dinars.

 

 

“The Central Bank has announced that it has no intention to restructure the currency by removing three zeros from its value this year,” said Abdulhusain al-Yaseri, a deputy who sits on the parliament’s Finance Commission.

 

 

 

Currently one U.S. dollar is worth more than 1250 dinars and Yaseri said Iraqis needed to carry large sums of currency even for household shopping as payment by credit card is rare in Iraq.

 

 

 

Issuing new denominations with deleted zeros will simplify payment and accelerate trade exchanges, he said.

However, Yaseri did not say when the Central Bank will start issuing new currency.

 

 

 

He said the massive sum of banknotes in circulation raised the possibility of faked banknotes and has been cited as one reason for the latest slump in the dinar’s value from around 1120 to more than 1250 vis-à-vis the U.S. dollar.

 

 

However, he said the bank had in place a plan to remove three zeros from the dinar, and ISSUE A 100 DINAR NOTE that WILL BE EQUIVALENT TO $100.

 

 

He said it was in Iraq’s interest to print new currency with lower denomination, the thing that “will make easier to detect forgeries.”

 

 

Exchanging currency by increasing its value or printing new notes are costly to the economy, though the Central Bank has not said how much the whole operation will cost if carried out.

 

 

There are also fears of corruption as the banks starting exchanging their Iraqi dinar reserves.

 

 

the link : http://www.azzaman.com/english?p=728 

 

[sandy040]

Which begs the question:  why isn't there even one person from the Mid-East on these boards with as much interest in the Dinar as we are?

 over the years there have been a few arabic speakers and even a couple of Iraqis on this site, but due to the camel jockey, ******* etc comments they dont tend to stay around for long and who can blame them 

[handy]

Imo, "dropping the zeros " just means getting rid of the big denominations , not a lop . I know this is a heated topic and those alot smarter than me will tell you it has to be a lop but from everything I've read and from what my friend who understands arabic has read , they are simply getting rid of the big denominations . Just like the U.S. did years ago with the 1000 dollar bill so that the $100 is now the biggest denom . Also , imo, they will re-value making their 100 dinar equivalent to the $100 dollar bill . All this is jmo and I know some eager souls are going to love ripping this opinion apart but hey it's a free country and I know that's just the risk I'll have to take .

[Inbedded HorseHead]

i know i'll regret this later but ....my buddy , who reads and understands arabic , said it talked mostly about dropping the zeros, taking maximum security to stop counterfeiting and money laundering and he said he thinks it's official that we will see the smaller denominations soon. okay go ahead and bash away , i know ya'll gonna call me a guru and everything else but it's ok i can roll with the punches.

so won't they still need a wheelbarrel to cart around all the small denominations to buy a loaf of pita bread?

[dontlop]

ok they drop the zeros  what does that mean for the large notes

it means they will be replacing the currency with smaller denominations . and they will co-exist till the large notes are gone because of demand ..or a certain deadline  date. possibly a year or two ..

 

it means that a fixed exchange rate will be attached to the two currencys ..the bremmers and the new lower denominations .

 

they wont have any use for the bremmers once the new dinars are released ..

 

they cannot put out a one dinar note  or coin ..and still keep the same 1166  exchange rates.

 

and they cannot  increase the exchange rates to a dinar per dollar .. and keep all the bremmers ....iraq doesnt have a need for 75 trillion dinars worth a dollar each ..

 

they will keep iraq broke enough to make them sell their oil ..or in debt enough ..

 

hopfully its indebt enough ..

 

hopfully they finance a higher valued currency  over the next 100 years ..i hope they end up with around 3 trillion dolars worth of currency ..and we benifit off that .

 

the more they allow iraq to go in debt .. the more guarentee we have of their oil in the markets

[RAGARCIA62]

When it happens it happens, I'm so sick and tired of hearing its going down now or its going down tomorrow i could puke, Thanks for the up date Bond Lady i hope your sources are right this time.

I know, right! Exactly my thoughts. Go rv

[umbertino]

I Did !

 

Would U Like To See My Vacation Photos Where I Was Practicing On How To Delete The Zeros ?

 

 

 

       

Awesome.

HEY THUG HOW DO YOU KNOW BONDLADY HAS BUTT FUR?

NOW THATS A PICTURE,

Where is it ( pic)?

[keepmwlknfny]

it means they will be replacing the currency with smaller denominations . and they will co-exist till the large notes are gone because of demand ..or a certain deadline  date. possibly a year or two ..

 

it means that a fixed exchange rate will be attached to the two currencys ..the bremmers and the new lower denominations .

 

they wont have any use for the bremmers once the new dinars are released ..

 

they cannot put out a one dinar note  or coin ..and still keep the same 1166  exchange rates.

 

and they cannot  increase the exchange rates to a dinar per dollar .. and keep all the bremmers ....iraq doesnt have a need for 75 trillion dinars worth a dollar each ..

 

they will keep iraq broke enough to make them sell their oil ..or in debt enough ..

 

hopfully its indebt enough ..

 

hopfully they finance a higher valued currency  over the next 100 years ..i hope they end up with around 3 trillion dolars worth of currency ..and we benifit off that .

 

the more they allow iraq to go in debt .. the more guarentee we have of their oil in the markets

So do you also think that lopping the zeros is the RV we are looking for?

[roger01]

So my girlfreind whos from Iraq, Specifically shes Kurdish told me that the video says 4 Billion Dinar will be equal to 1 Million Dollars.  Maybe my math is wrong but divide your dinars by 4 and that should be how much its worth in US Dollars? Please let me know if Im wrong, math guru's.  She said it also talks of the process taking awhile because of fraudulent notes in the system and that this is a strategic move that will effect the world.  Hope that helps. Its not nessessarily going to make you rich unless you have a lot, but we will make a damn good return from what I gather.

[roger01]

My math is off. I just realized how silly that thought was but the translation is what she said it was. I asked her to do the translation in sections.

[BigRobowski]

4 billion dinar equal to 1 million dollars???? LOL

[roger01]

I know, it sounds rediculous but thats what it said.

[BigRobowski]

that's not much of an RV lol

[ALBUNDY]

BigRobowski:  " 4 billion dinar equal to 1 million dollars????" , I am not really good at math and I am just curious if 4 billion Dinar= $ 1 million , then Dinar 1 = US$ 0.25 is it wrong? Please correct me if I am wrong cause I begin to get excited. Mathematicians or experts please.

[BigRobowski]

well i guess when you put it that way i didn't actually calculate it but it doesn't sound good just reading it 4 billion to 1 million but i'd take .25

[handy]

I'd love a quarter  per dinar but if it was 4,000,000,000 IQD= 1,000,000 then we'd be going the wrong way and actually would have lost some money .                                           ie.4,000        =1 , just drop 6 zeros and you'll see what I mean. I think it will be at least a quarter or better though but that's just my opinion.

 

Now if they said 4 billion dinar will equal 1 billion dollars then yah you got a quarter .

[BigRobowski]

yeah i just realized that lol i was like wait its not 4 million to a million its billion that's not an rv that's ridiculous

but at least that was more of a laugh than reading some garbage about a $7 RV or something... blah I'm so sick of this whole thing after only a couple months

[umbertino]

Quote

says 4 Billion Dinar will be equal to 1 Million Dollars. 

End Quote

Then it'd be much worse for us than  what it is now.

 

[ALBUNDY]

handy :  " 4,000,000,000 IQD= 1,000,000 " , after drop 6 zeroes, it becomes $1= 4,000 IQD, that means the value of Dinar drops from 1,166 to 4,000 and I really can't believe someone translates this youtube video and says about this. this is very sad and bad news. I wish there are other Arabic translators that can interpret this youtube video to make sure we really get the TRUE meanings what they said in the youtube video.

[handy]

I was just helping with the math . I wasn't saying agreeing with what Roger01s  translation was . A friend of mine here in afghan. reads arabic and he told me they were talking about dropping the zeros in the video but he said that it only meant they were referring to getting rid of the large denominations . This to me this is good news , not a lop , it just means they are getting the big bills out of circulation and preparing to introduce the smaller bills which IMHO , i believe will come with a revaluation but that's just my opinion . I don't really like getting into the whole lop debate .

 

I trust my friends interpretation but I don't blame anyone here for being doubtful . I was just passing along what he said  .

[OZmosis]

I was just helping with the math . I wasn't saying agreeing with what Roger01s  translation was . A friend of mine here in afghan. reads arabic and he told me they were talking about dropping the zeros in the video but he said that it only meant they were referring to getting rid of the large denominations . This to me this is good news , not a lop , it just means they are getting the big bills out of circulation and preparing to introduce the smaller bills which IMHO , i believe will come with a revaluation but that's just my opinion . I don't really like getting into the whole lop debate .

 

I trust my friends interpretation but I don't blame anyone here for being doubtful . I was just passing along what he said  .

 

Hello handy.  I like your post much better than all the rest.

[handy]

Well ty Ozmosis, hopefully this ride will be over soon ...

[Man_Kind]

Just friggin do it !!!!!!

Now that's too friggin funny ! BB !

[ALBUNDY]

Handy : thanks for helping the math and I don't blame you. So, don't worry about it and as long as it isn't a lop, it is still a good news. GO RV.

[sandstorm]

Drop it like its hot.