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Launch The Iraqi Dinar ~ VP of the Economic Commission project to delete the zeros & economic feasibility of the regional climate suitable for launch


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KEEP has a hard on regarding this investment for a reason and it definitely isn't negative.  what "john" constantly revisits day after day the same "tart, nasty, smelly a**" pu***.  i know if i were a dude, i wouldn't put my money on it. Said in the same vernacular and voice as Kuduku. Peace.

Good Lord.. :mellow:

 

Let it go.

 

You BOTH rock! :bravo:

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KEEP has a hard on regarding this investment for a reason and it definitely isn't negative.  what "john" constantly revisits day after day the same "tart, nasty, smelly a**" pu***.  i know if i were a dude, i wouldn't put my money on it. Said in the same vernacular and voice as Kuduku. Peace.

All right!

Tell it like it is...

And in the same voice as Kakadu...but includes actual thought....

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Please dont take offense but speak for yourself if you dont know what deleting the zeros really means. They have been pretty clear at times as to what it is in the past. The CBIs plan has not changed since this so called educational campaign started years ago. They have used the word redenominate, given an exchange ratio from old to new currency, talked about the reduced money supply/replacing the entire currency, and even mentioned specific countries that have done this action before. 

 

You have to understand that although these are all different countries, the one thing that puts them all in the same boat is the failed monetary policies, extremely high inflation, low exchange rate, and inflated money supply. All these countries have dealt with this problem in the same fashion. Its nothing new.....and just because you might be sitting on oil, it doesnt magically erase any monetary policy problems. So of course Iraq isnt Turkey, or Romania etc, but it doesnt matter....

 

And having lower denominations wont help you either if they lop.....nor will having your dinar electronic in an account. Its ALL affected......your 500 note would still be affected....anything under the 1000 dinar bill is still affected. A 500 dinar note basically would become half a dinar.

If the 500 note became 1/2 new dinar and the 250 note becomes 1/4 new dinar .... then how about the 50 dinar note ??

I've always compared Iraq to Saudi Arabia which has note denoms of  1 , 5 , 10 , 50 , 100 , 500 at face value.

If Iraq redenominated / loped  .... would it happen in the same exact way that other countries have done it ?  Or could there be the possibility of another scenario where they would only LOP / RD the 3 zero notes ?? Turkey took off 6 zeroes from the large notes and the 100,000 and 50,000 notes were fractionized since they only had 5-4 zeroes. But still theres a huge difference between a 100k and 50k ""small" denom note like Turkey had versus the current small 500 or 250 or 50 dinar note that Iraq currently has. Anyway just wondering what your thoughts are on this. In any case I bought all my dinar in 500 and 250 notes just in case there is the slightest chance of these notes being safe from a LOP for some reason. I just figured if the biggest note in Saudi Arabia is a 500 there was no point for me in even buying 3 zero notes of IQD. Anyway but again just wondering what your thoughts are on this.

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Dropping the 000's 101.....

 

25k = $25.00

10k =  $10.00

5k = $5.00

1k = $1.00

500 = .50

250 = .25

50 = .05

 

Introduce the 100 dinar bill with the Kurdish language. = $100.00

This is why they never printed the 100 dinar bill.

Then exchange the rest of the bills with smaller denominations and coins.

 

This is the plan. SORRY.... I was there and I keep in contact with private bank executives.

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If the 500 note became 1/2 new dinar and the 250 note becomes 1/4 new dinar .... then how about the 50 dinar note ??

I've always compared Iraq to Saudi Arabia which has note denoms of  1 , 5 , 10 , 50 , 100 , 500 at face value.

If Iraq redenominated / loped  .... would it happen in the same exact way that other countries have done it ?  Or could there be the possibility of another scenario where they would only LOP / RD the 3 zero notes ?? Turkey took off 6 zeroes from the large notes and the 100,000 and 50,000 notes were fractionized since they only had 5-4 zeroes. But still theres a huge difference between a 100k and 50k ""small" denom note like Turkey had versus the current small 500 or 250 or 50 dinar note that Iraq currently has. Anyway just wondering what your thoughts are on this. In any case I bought all my dinar in 500 and 250 notes just in case there is the slightest chance of these notes being safe from a LOP for some reason. I just figured if the biggest note in Saudi Arabia is a 500 there was no point for me in even buying 3 zero notes of IQD. Anyway but again just wondering what your thoughts are on this.

The 50 notes become worth about a nickel.....they dont necessarily have to make a dinar worth that much, but hey for every 5 you have, you have a 1/4 of a dinar!

 

I thought about the possibility of only redenominating the zero notes but it doesnt make much sense seeing as how the new currency would have a different ISO code, and then the old bills are deemed worthless after a certain period of time. So you would have two different currencies. Redenominating basically retires an entire set of a currency. If they just wanted to get rid of the larger bills, then slowly raise the value and over time they will work themselves out of the system.

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Dropping the 000's 101.....

25k = $25.00

10k = $10.00

5k = $5.00

1k = $1.00

500 = .50

250 = .25

50 = .05

Introduce the 100 dinar bill with the Kurdish language. = $100.00

This is why they never printed the 100 dinar bill.

Then exchange the rest of the bills with smaller denominations and coins.

This is the plan. SORRY.... I was there and I keep in contact with private bank executives.

You were privy to the plan?

I can say so was I just as easy as you.

I was there, I've kept in touch with my contacts, plan is to raise the rate then delete.

See?

Easy.

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NO ONE KNOWs....

It can go in many different ways.

The one thing you can bet on is they will have one of the strongest currencies in the Middle East.

If the rate went down from 3.00 plus due to the war, why can't it go back up the same way? So to say it can RI or RV is feasible. It is one beneficial solution for IRAQ and to increase confidence and internal value. Are there other possibilities, YES!

They need to handle whatever they do smartly, to keep economic and political gain up. A "LOP" or RD would not be a smart move. That is IMHO. We shall see. As always stated that IMHO this is not going to be compared to any other economic situation.

We wait.... Peace

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KEEP. quick question. how do you think a LOP would affect a stock within the ISX? If they were to delete the zeros would the stock depreciate by 1000% or gain 1000%? I agree with you in the fact that the articles (which have been roughly translated) have pointed to a lop, but what do you believe to be their rational behind wanting to lop? There is no hyperinflation, they have massive currency reserves in addition to gold, an economy that is a world leader in growth, and an abundance of natural resources? I'm not saying they haven't alluded to a lop but why would they with all they have at their disposal? To me, at least, it makes little sense.... care to clarify? 

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I keep reading about the three zeros and if it is the exchange rate: (.000)86 or the LOP: 250,(000).  Does anyone remember when this happened in Kuwait?  I  remember people cashing out and making some serious bucks.  Why would this be any different?   

Happy Ramadan!

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KEEP. quick question. how do you think a LOP would affect a stock within the ISX? If they were to delete the zeros would the stock depreciate by 1000% or gain 1000%? I agree with you in the fact that the articles (which have been roughly translated) have pointed to a lop, but what do you believe to be their rational behind wanting to lop? There is no hyperinflation, they have massive currency reserves in addition to gold, an economy that is a world leader in growth, and an abundance of natural resources? I'm not saying they haven't alluded to a lop but why would they with all they have at their disposal? To me, at least, it makes little sense.... care to clarify? 

They have mentioned the affect on the stock market in the event of a lop.....I dont remember exactly how off the top of my head but it would neither depreciate or appreciated by 1000%.  It will neither lose nor gain value in any case. Values will remain the same! 

 

Going down the lop road is just taking the easy way out. Its exactly what they are calling it....a currency reset/reform.  You dont lop DURING hyperinflation....that sets you up for failure. For it to be successful, countries will wait till they can get inflation under control. Iraq doesnt have high inflation now, but they did suffer from it for YEARS which brought on the excessive money supply, and low exchange rate.

 

They do have the largest reserves in their history and about 2 billion dollars in gold. Thats all that is backing the currency. That is what heavily determines a pegged currencies value.Not whats in the ground or simply how fast their economy is growing. Right now just as they have stated, they are backing the dinar 2.5 times its current value, but it seems they still want to take the easy way out instead of going ahead and moving up the value and continuing to build reserves.

Its simply an easy way out....just a complete reset or "do over" on the currency from past mistakes. 

 

They have mentioned of returning the dinar to previous rates, and realistically, the fastest way to get there, would be lopping the zeros, at which point they would still be backing the dinar more then 100 percent, and instead of being on par with the dollar, could easily support a rate over 2 dollars. 

 

This is hardly what I want to happen.....none of us do.....but unfortunately, I see a bigger chance of that happening then us being made millionaires. We shall see though.....Im hoping they are just feeding us full of crap

I keep reading about the three zeros and if it is the exchange rate: (.000)86 or the LOP: 250,(000).  Does anyone remember when this happened in Kuwait?  I  remember people cashing out and making some serious bucks.  Why would this be any different?   

Happy Ramadan!

Thats not what happened in Kuwait. They did not remove any zeros from their currency. The banks simply reinstated the Kuwait dinar as the national currency, and introduced new bills of the same denomination to replace the old bills.  In order for anyone to have made money off this, you would of had to be in Kuwait during this whole time because no one outside its borders were selling the Kuwaiti dinar, nor could you exchange the old for new or exchange the older ones period....

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I believe the GOI has essentially been told this is going to be a LOP, and sold on the idea of new, hard to counterfit bills, and the joy of dealing in smaller numbers and having fractions of dinars (fils) coins again.

 

Many fought this at first due to the cost involved, since the (hopefully) plan to RV instead HAD to be kept from them.

 

In any case, any GOI members pushing to do this thing is a good thing.

 

Peace and Prosperity

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Removing the zeros, unless accompanied by an RV, is a neutral act.  It is to simplify the currency into smaller denominations.  Concurrently with the removal of the zeros all pricing would drop accordingly.  What used to cost 1,000,000 will now cost 1,000.  The new money would have the same value as the old money.  However, it is quite possible that a removal of the zeros would be accompanied by an RV which would be great!

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Removing the zeros, unless accompanied by an RV, is a neutral act.  It is to simplify the currency into smaller denominations.  Concurrently with the removal of the zeros all pricing would drop accordingly.  What used to cost 1,000,000 will now cost 1,000.  The new money would have the same value as the old money.  However, it is quite possible that a removal of the zeros would be accompanied by an RV which would be great!

Well technically by removing the zeros the new dinar is revalued....it wont share the same value as the old currency. The old currency that we hold would never see a higher rate. Anyway you cut it, we dont want them removing the zeros......unless you wanna hang on another 10 to 15 years to maybe double or triple your money.....

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KEEP. quick question. how do you think a LOP would affect a stock within the ISX? If they were to delete the zeros would the stock depreciate by 1000% or gain 1000%? I agree with you in the fact that the articles (which have been roughly translated) have pointed to a lop, but what do you believe to be their rational behind wanting to lop? There is no hyperinflation, they have massive currency reserves in addition to gold, an economy that is a world leader in growth, and an abundance of natural resources? I'm not saying they haven't alluded to a lop but why would they with all they have at their disposal? To me, at least, it makes little sense.... care to clarify?

They would do a reverse split 1000 old shares for 1 new one ... That is the way it is done when the value of a share is far below one unit of local currency. Or they become penny stocks and are traded off the exchange.
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If they go to remove the 0's from the currency, wouldn't that cost more money to the Iraqi government due to having to reprint new currency?

They all.agreed.on a new currency anyways with all the languages so it seems they would be printing new bills anyway....

They would also need then.if they were to straight up revalue gradually over time.....

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Keep, nothing dissing, just wondering why I don't see you (rarely) on any other forms other than things about a LOP. Just asking.

WM13

Well cause there is so much confusion about it and I just want the truth to be heard by the many new comers to this investment so they dont get the wrong idea....

 

Also its because its really one of the only things talked about coming out of Iraq about the currency and of course I wanna stay updated as to any new direction they might be taking.....

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If they go to remove the 0's from the currency, wouldn't that cost more money to the Iraqi government due to having to reprint new currency?

It costs around 10 cents to print a 10 dollar US Note. I think the IQD we hold cost around 6 cents each.  The CBI has said after deleting the zeroes there would be around 4 Billion Notes. So that would be around 400 Million dollars not including the cost to destroy the old notes. So Im guessing that its going to cost them 1/2 a billion dollars.

 

Now take a $1.00 RV and lets say for tickles and giggles the Money supply has been reduced to say 20 Trillion IQD.  At Face value thats going to cost them 20 Trillion dollars.

 

I still am hoping to see the rate increase slowly and sustainably and keep going without a RD.  I love to imagine it going to a dollar over night, but I would be doing the happy dance if it ever makes it to 1 penny.

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It costs around 10 cents to print a 10 dollar US Note. I think the IQD we hold cost around 6 cents each.  The CBI has said after deleting the zeroes there would be around 4 Billion Notes. So that would be around 400 Million dollars not including the cost to destroy the old notes. So Im guessing that its going to cost them 1/2 a billion dollars.

 

Now take a $1.00 RV and lets say for tickles and giggles the Money supply has been reduced to say 20 Trillion IQD.  At Face value thats going to cost them 20 Trillion dollars.

 

I still am hoping to see the rate increase slowly and sustainably and keep going without a RD.  I love to imagine it going to a dollar over night, but I would be doing the happy dance if it ever makes it to 1 penny.

Didnt they give an amount it would cost to print the new currency?  I could have sworn they said it would only cost a couple hundred million dollars......

For some reason the number 140 million comes to mind.....someone have this info bookmarked?

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IMO, I believe they will come in low, .01-.10 if we're lucky .25( depends on the money supply when the time comes) they will give a small window to cash in before they retire the 000 bills. Once that time has come they will do a series of small rv's. first to a 1.00, then to 3.00+

That leaves a money supply they can work with, it also takes out all the 000 notes, making any remaining invalid, or void.

Don't be hoodwink, any 000 articles is talking about a lop. Like KeepM mentioned lets hope it's BS.

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Didnt they give an amount it would cost to print the new currency?  I could have sworn they said it would only cost a couple hundred million dollars......

For some reason the number 140 million comes to mind.....someone have this info bookmarked?

Thats the number I remember Keep.  But I dont think we knew the number of notes they were talking about then.

I would think if they were to go through with this it would be a high quality note and not inexpensive.

Pretty sure the 6 cents it cost for the currents notes is an average.   That was quite a while ago so 10 cents a note now sounds accurate.

But even at 1/2 a billion USDs in new notes  thats only a couple of weeks worth of oil revenues for iraq.  

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Thats the number I remember Keep.  But I dont think we knew the number of notes they were talking about then.

I would think if they were to go through with this it would be a high quality note and not inexpensive.

Pretty sure the 6 cents it cost for the currents notes is an average.   That was quite a while ago so 10 cents a note now sounds accurate.

But even at 1/2 a billion USDs in new notes  thats only a couple of weeks worth of oil revenues for iraq.  

Here are a couple of old articles--I don't have original links and I can't post the links of where I got them due to TOS here:

 

 

Deleted 3 Zeroes from the Iraqi Dinar Cost «Central» $ 150 million

Date: Monday 03/26/2012 13:02

UAE's Al Ittihad newspaper

Monday, 26/3/2012

Confirmed official sources within the Central Bank of Iraq that the draft deleted three zeros from the Iraqi dinar began effectively and the process of replacement will cost the state budget the amount of 172 billion dinars (150 million dollars), will be the budget next year in JD's new will «Central» to raise its value gradually against the dollar up to be equal to any dinars per dollar.

It showed official documents especially the replacement of the Iraqi dinar to the new edition will be issued in three languages, Arabic, Kurdish and English, and the Kurdish language in government transactions provided for constitutionally, while the cost printing process which will be forwarded to one of four international companies specialized $ 150 million distributed in print, transport, insurance and work outside working hours for the destruction of the old currency which will be this time within the Central Bank. and the Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh, "The studies printed a new series of coins Iraq started since 2005, and began correspondence with the Committee on Economic Affairs in the Iraqi government in 2007 on the idea of ​​deleting three zeros from the currency. " He added that the bank actually started the project any printing a new currency will be characterized as specifications of the best security in the world.

 

 

 

 

And

 

 

 

CBI: Cost of printing the currency after you delete the zeros quarter of the cost of printing currency current

 

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh

“Gate of Iraq” BAGHDAD – Vice Governor of the Central Bank of the appearance of Mohammed Saleh said that “the real cost for the printing of new Iraqi currency after deletion of zeros in the current period cost a quarter of which is printed by the Iraqi currency currently in circulation.”

And pointed out that “accelerate the process of printing the new currency is in the interest of the country in the current period because the deferred into the future lead to a cost increase to three times the cost to be allocated for printing in the current period.”

Hesitated and news about the high cost of printing Iraqi currency after deletion of zeros to the imaginary numbers of up to one hundred and seventy billion Iraqi dinars.

The project has been delayed to delete the zeros due to some work by Almarqlat, especially after extensive controversy about it.

Iraq had replaced its currency in 2005 as it continued currency of the former regime for nearly two years.

albawwaba.net

Oh...not that it matters much but I like this part of the first article I posted--[tried to edit for easy reading but I guess I timed out]

 

 

Confirmed official sources within the Central Bank of Iraq that the draft deleted three zeros from the Iraqi dinar began effectively and the process of replacement will cost the state budget the amount of 172 billion dinars (150 million dollars), will be the budget next year in JD's new will «Central» to raise its value gradually against the dollar up to be equal to any dinars per dollar.

Edited by FreckledFuzz
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