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Ok, so today I have been reading as much info on them wanting to delete the zero,s from the Dinar  ......

 

So if you take the Forex Codec numbers 0.0008605.10 IQD and remove the 3 zero,s after the decimal point, you will get 0.8605.10 and that would make it each IQD worth $ .86 ......

 

Look at the Kuwaiti Dinar, on the Forex right now it is at 0.28570 and if you look at the last numbers I gave you above that will translate to $ 3.55 USD.  They are NOT! talking about 3 zero,s from the notes!!!! Its the 3 zero,s off of the nominal value that the Forex uses!!!

 

That is what we're all hoping for.  Doing so, would most certainly necessitate the introduction of lower denominational bank notes.

 

I'm not trying to be rude - but are you quite sure they are talking about removing the leading zeros from the nominal rate and if so, how do you know this to be true?  Be careful of how you present your views and/or opinions; if you aren't, folks might begin to refer to you as "Guru Circletrack".

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That is what we're all hoping for.  Doing so, would most certainly necessitate the introduction of lower denominational bank notes.

 

I'm not trying to be rude - but are you quite sure they are talking about removing the leading zeros from the nominal rate and if so, how do you know this to be true?  Be careful of how you present your views and/or opinions; if you aren't, folks might begin to refer to you as "Guru Circletrack".

Exactly.....That's what we all would love .... Problem is nobody knows. One day we'll find out.

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This has been kicked around for alot of years. Put it with auctions. It is interesting to hear that your family member that helped you out is also the one that got you into this ride. Hope he/she is right.

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Truth of the matter is that NO ONE on this forum or any other can truly answer the question about what the phrase "... Delete the zeros..." REALLY means. Translation by some software translator is ineffective in representing true translation. There are literally hundreds of Arabic words that DO NOT translate to anything in English. And conversely there are hundreds of Englsh words that have NO Arabic translation. So, there in lies the rub. A lot of people on this forum will use a logical decision tree to help them make sense of the articles and the actions of the Iraqis. Truth of the matter is that they really have no clue. I have been working with the Arabs for quite some time and what I have learned is that they doing nothing from a logical perspective. Everything and I mean everything is based on the philosophy of God's will. If something didn't get done, it was because God did not will it to happen. I've said many times, "if only the Iraqis could see what they CAN/COULD become if they for a moment would look to the future with a growth plan." All one has to do is look to the UAE OR Qatar. So, take your pick - delete the zeros from the current denominations or delete the three-zero denominations from the street or as you intimated, delete the three zeros from the exchange rate. The only answer to all this guessing will come when we all see/experience the reality. Me... I tend to be a glass-half-full kinda guy.

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Ok, so today I have been reading as much info on them wanting to delete the zero,s from the Dinar, and was blown away when someone in my family who is very very wise to investing showed me why its a good thing????

 

I have been sick feeling seeing how the Iraqi Parliament and Economic Committee has been last week and this week shouting at the CBI to remove the 3 zero,s as I have been under the impression that it would kill our investment!! That this is not what we want. I have also seen the other side of debate by some here in these forums saying we do want it and asking why they would tell us that?

 

So, I have a family member that has investments and always looks at the Forex rates and I asked him what he thought about this. By the way, he is the one who got me into buying Dinar. Anyways, he showed me why it was not only a good thing but necessary.

 

He showed me this:

 

He took me to (www.xe.com/currencyconverter) under live rates went to US dollar to Iraqi Dinar rate. If you go there you can see that:

 

1.00 USD = 1,162.10 IQD

Right under that, it shows:

1 IQD = 0.000860510 USD (Forex Codec)

So he said you cant look at it as in US dollars as they go by a Forex codec. For example:

 

$ .86 = 1.162

$ 1.00 = 1.00

$ 1.17 = 0.854

$ 1.86 = 0.537

$ 2.00 = 0.500

$ 2.50 = 0.400

$ 3.00 = 0.333

$ 3.22 = 0.310

$ 3.46 = 0.289

$ 3.50 = 0.285

So if you take the Forex Codec numbers 0.0008605.10 IQD and remove the 3 zero,s after the decimal point, you will get 0.8605.10 and that would make it each IQD worth $ .86

 

Look at the Kuwaiti Dinar, on the Forex right now it is at 0.28570 and if you look at the last numbers I gave you above that will translate to $ 3.55 USD.  They are NOT! talking about 3 zero,s from the notes!!!! Its the 3 zero,s off of the nominal value that the Forex uses!!!

 

I thought different my self but now seeing how the worlds currency is read on the Forex, its makes perfect since!!! Hope this helps!!! I feel much better!!!! Knowing why they are screaming to do that!!!

Yep, been saying this for 4 years now, but some people either don't or won't understand. Good post circle. Go RV !

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Why hasn't any journalist actually pinned one of these guys down when they say that and put the pressure on them to clarify what it EXACTLY means? What do you mean by this? Is it disregarding the three zeroes on the actual note or do you mean the actual removal of the three zero notes from circulation or the removal of the three zeroes from the exchange rate decimal? Is it that difficult to translate????

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GOEERS... good question! seems too obvious, doesn't it.... :lol:  

 

Pinning one of them in authority down may be the problem...

Who's to say...?  Who's REALLY in charge....? Who's word is THE last word? :confused2:

 

And would they just talk in circles as usual, or actually provide a valid response?

 

sigh... we still feel like we're in the suq bartering with a Bedouin over a prayer rug. :ph34r:  :mellow:  

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Never ever heard them say delete three zeroes from the rate.

It's always stated as three zeroes from the currency.

i saw a couple that said nominal value .. but mostly  the currency

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Many of us have had that same "Aha!!!" moment, even years ago... so not a total revalation.... but always glad to see it brought up!

 

It's great for our optimism!!!   Conversely, it's also Lopster fodder... it's what sustains them! :P

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Iraq has not been listed with on the following Forex site for as long as I have been checking it.

With the recent release from Chapter VII took a look see this morning and was quite surprised to see it is now included with the other 140 + countries.

It does not bring any information up but they are now on the list which is a positive sign in my mind.

 

http://www.forex.com/pages/land-international.html

 

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***///

 

GOEERS... good question! seems too obvious, doesn't it.... :lol:  

 

Pinning one of them in authority down may be the problem...

Who's to say...?  Who's REALLY in charge....? Who's word is THE last word? :confused2:

 

And would they just talk in circles as usual, or actually provide a valid response?

 

sigh... we still feel like we're in the suq bartering with a Bedouin over a prayer rug. :ph34r:  :mellow:

 

Yep they'd either geta shoe throwed at them or their head hacked off with a kitchen knife...........

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Alot of good points here!! Iam just going off what my cousin is saying yes! But! it seems most logical to me seeing it this way. BUT! yes Iam just giving my opinion here and I hope and pray that it is right. I have never seen how the Forex works or see how they have a scale to go by. Thought that this was really cool to say the least but this is just theory to me BUT! my cousin says thats how you look at it as he,s been seeing it like that for years!

 

As I said Iam NOT! claiming to hold the answers as you all know this could go into another direction as well!! It just seems to me that Going to lower notes in January, and demanding the 3 zero,s removed the float theory works and makes more since. A window of turing the Dinar back in as some say. Also my cousin told me that he has read, trying to find out where (cause I want to read myself) that its been stated in a couple of articles that they are talking about the nominal valve and used the term decimal plates??? My cousin says that the zero,s after the decimal point of their exchange rate (Forex Codec)

 

We will see!!!! I just hope and pray this is right too and am only giving you a point of view that most! are not looking at? I try really hard to dig to find out whats really going on because for all these guru guys who have all this intel, they sure stink at actually showing us facts!!!! God BLess! and pray if they do remove the zero,s it is the nominal value NOT! RD!!!!!

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Yep they'd either geta shoe throwed at them or their head hacked off with a kitchen knife...........

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Good point...! :lol: "free speech" over there is a relative thing...

 

unless you have "relatives" in high places,

you better keep yer head down and yer beak shut ! :P

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