A new Iraqi currency. Soon

[shellfish]

must be listening to another Dinar RV guru

i have to give a huge shout out to 

keepmwlknfny

 

he is the first person to open up my eyes on this whole deleting the zeros stuff after i saw him post about he got alot of flack about it from the dinar community  after i saw the post i started to read up on it and sure enough he was spot on but everyone else was wrong

My 20 watt bulb came on due to "keep" and stayed lit by you and "fib".$660 from Ali would look good but for his problems.

[boomer113189]

That claim is not in the article, not even in invisible ink. So please let us know where you got that??? 

[boomer113189]

Go lop !!!!! Lol

To the lopstersa on Iraqi TV the finance committee have stated that the currency is grossly undervalued. So how does a lop add value to the currency please answer me that

Benefits of Redenomination

1. Redenomination leads to a more efficient local currency by knocking off some zeros. When there are too many zeros, many transactions are conducted in thousands, millions, billions and trillions which make counting and calculation difficult and put stress on book-keepers and electronic calculators.

2. Redenomination facilitates business transactions because it leads to the use of smaller units of money.Such a reduction in the unit of money required for transactions will relieve both buyers and sellers of the burden of counting large sums of money.

3. Redenomination leads to a more portable currency and a significant reduction in the dead weight of the money people carry and the associated risk, e.g. attack by robbers. Redenomination reduces the phenomenon of money illusion that people suffer from when there are many zeros.

4. Redenomination leads to greater confidence in the currency. When there are many zeros, people loss confidence in the local currency.

5. After redenomination, businesses and citizens may be more willing to shift their preference to the local currency rather than to an international currency. Hence, the dropping of zeros restores credibility and confidence in the local currency and enables the government and the central bank to reassert their monetary sovereignty. It also enhances the effectiveness of monetary policy because it enables the local currency to better serve as a “true legal tender”.

6. Redenomination can sometimes reduce inflationary tendencies in an economy if the underlying causes of chronic or hyperinflation and low valued local currency are resolved before the redenomination exercise and if the process is well managed. This is why re-denomination should be implemented in the latter stages of an economic stabilization package or reform. Historical evidence suggests that redenomination had been very successful in an environment of macroeconomic stability, declining inflation, stable exchange rates, fiscal restraint and prudence and rational expectations of policy credibility.

7. Redenomination is sometimes used to indicate that era of failed economic policies has come to an end and that the economy is poised to start on a new slate. This helps to increase confidence in the economy and sends a signal to both the local community and the international markets that high inflation and general macro-economic instability are a thing of the past.

8. Multiple zeros complicate statistics and transactions and increase the length of time spent in lines at banking halls. Thus, dropping zeros enhances book-keeping and reduces the drudgery in transactions, record keeping and banking activities.

[Butifldrm]

........................

I'm STILL waiting for someone to show me just 1 currency from history that rv'd at least 20% in a single move.

Most here are looking for 100,000% for the IQD. Lol

That gets me rolling on the floor.

 

LOL Ok!

 

AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks

By DONATELLA LORCH, Special to The New York Times

Published: March 25, 1991

·                          SIGN IN TO E-MAIL

·                          PRINT

 

It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.

Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.

Without electricity, the banks services were slow, limited to money exchange and withdrawal. There was no telex, no electronic money transfer and no telephones. The computers were unusable, so all transactions had to be entered by hand.

"It's like going back 20 years," said Mohammed al-Yahya, the manager of the Commercial Bank of Kuwait, the nation's second-largest bank. Seized Dinars Canceled

The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.

 

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Although it is severly handicapped without electricity, the Commercial Bank, like many other major banks, was able to open for business because its records had been saved from the Iraqis. Mr. Yahya hid the bank's balance sheets in his home and sent its computer records to London via Syria with an Indian employee, who packed the tapes into the back of a trailer.

The banks also face serious personnel shortages. Only 11 of the Commercial Bank's 35 branches opened today, with 137 out of 1,300 workers.

Before the Iraqi invasion, only 17 percent of the bank's staff was Kuwaiti. Many of the foreign workers -- Jordanians, Palestinians and Indians -- fled and now cannot re-enter the country.

For those exchanging money today, there was little they could buy in Kuwait. Many of those in line said they planned to use their money for vacations or for shopping trips to Saudi Arabia to buy generators and food.

"I need to get away from this pressure," said Abdul Mohammed Hussein, a computer engineerin his early 40's who said he was withdrawing 1,500 new dinars to take a vacation in the United Arab Emirates. "Everywhere you go you find lines. At the supermarket, you find lines. To get petrol for the car, you find lines."

Abdul Hamed al-Atar, a 50-year-old retired Interior Ministry official, said this was the first time he had set foot in a bank since September, and he seemed relieved. "Kuwaits always keep a lot of cash with them," he said as he was handed crisp new piles of money that he stuffed into a small bag. "It's a comfort to have money in my hands."

 

 

http://www.nytimes.com/1991/03/25/world/after-the-war-no-electricity-but-kuwait-reopens-its-banks.html

Edited October 2, 2013 by Butifldrm

[boomer113189]

Kuwait never RVD they just reinstated there currency

Proposal to lift the zeroes from the Iraqi dinar

Usually out of financial authorities (Ministry of Finance) using the (fiscal policy) in order to maintain the General level of prices, in addition to the exploitation of all productive resources available in the local economy to reach full employment situation, as well as supporting economic development, this is done by using the power of the tools of fiscal policy (Government spending, and taxes).
Financial authority is used these tools to address the problems (inflation, recession, unemployment) and the caudate (inflationary gap, deflationary gap) to the local economy, in addition to their use as a target to raise the level of growth in the country. the Monetary Authority is not allowed to influence the money supply and demand as the powers of the monetary authority of the Central Bank. modern economic history tells us that many countries of the world (the great wars as the first and second world wars, the collapse of the totalitarian systems of the former Socialist camp countries) have a Two, either change the national currency or removing the leading zeros to return to economic stability in the Iraqi experience and after the fall of the former regime, the Coalition Provisional Authority to the Iraqi currency exchange new currency but equivalent value, which did not give the Coalition to raise the purchasing power of the Iraqi currency against the US dollar or other currencies.
This situation has led to keep Iraqi dinar equals (0.067) US cents, which indicates a significant decrease in the purchasing power of the Iraqi dinar, if (three zeros) of Iraqi dinar, this will lead to higher value (1000) once calculated the value almrtbet to the number of zeros that are filed, i.e. the cigarette tray that was sold (1000) possible acquisition after raising zeros of one dinar, a modern dinar can get out on a pack of cigarettes 1. theoretically, when lifting (three zeros from Iraqi dinar), purchasing power will rise against the US dollar for dollar becomes worth (JD) only so that goods imported from abroad worth before the zeros (1,200,000) Iraqi dinars, equivalent to us $ 1,000, will be worth after three zeros (1200) Iraqi dinars, equivalent to us $ 1,000, this will not brought any negative impact on Iraqi citizens in theory.

Pros raise zeros from the Iraqi dinar:
The process of raising three zeroes from the Iraqi dinar thoughtfully and in accordance with the Court of monetary policy will lead to the pros:
1. raise the purchasing power of the Iraqi dinar.
2. lift the sophisticated dinar exchange rate to other currencies.
3. increase the confidence of foreign investors in the economy.
4. increase the confidence of citizens in the national currency which has become comparable to other currencies like the US dollar and the Jordanian dinar and the Kuwaiti dinar.Etc.

 

 

 

this is a redenomination article  aka LOP

[caz1104]

GO RD!!!!! You guys kill me-lol!! Never in all my years have I've seen a faction of investors/speculators that revel in the possibility of min/no gain-priceless! Oh yeah...................it's not what you want.........rrrrrrrrrrrrrrright

Edited October 2, 2013 by caz1104

[fib1618]

LOL Ok!

AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks

By DONATELLA LORCH, Special to The New York Times

Published: March 25, 1991

· SIGN IN TO E-MAIL

· PRINT

It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.

Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.

Without electricity, the banks services were slow, limited to money exchange and withdrawal. There was no telex, no electronic money transfer and no telephones. The computers were unusable, so all transactions had to be entered by hand.

"It's like going back 20 years," said Mohammed al-Yahya, the manager of the Commercial Bank of Kuwait, the nation's second-largest bank. Seized Dinars Canceled

The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Although it is severly handicapped without electricity, the Commercial Bank, like many other major banks, was able to open for business because its records had been saved from the Iraqis. Mr. Yahya hid the bank's balance sheets in his home and sent its computer records to London via Syria with an Indian employee, who packed the tapes into the back of a trailer.

The banks also face serious personnel shortages. Only 11 of the Commercial Bank's 35 branches opened today, with 137 out of 1,300 workers.

Before the Iraqi invasion, only 17 percent of the bank's staff was Kuwaiti. Many of the foreign workers -- Jordanians, Palestinians and Indians -- fled and now cannot re-enter the country.

For those exchanging money today, there was little they could buy in Kuwait. Many of those in line said they planned to use their money for vacations or for shopping trips to Saudi Arabia to buy generators and food.

"I need to get away from this pressure," said Abdul Mohammed Hussein, a computer engineerin his early 40's who said he was withdrawing 1,500 new dinars to take a vacation in the United Arab Emirates. "Everywhere you go you find lines. At the supermarket, you find lines. To get petrol for the car, you find lines."

Abdul Hamed al-Atar, a 50-year-old retired Interior Ministry official, said this was the first time he had set foot in a bank since September, and he seemed relieved. "Kuwaits always keep a lot of cash with them," he said as he was handed crisp new piles of money that he stuffed into a small bag. "It's a comfort to have money in my hands."

http://www.nytimes.com/1991/03/25/world/after-the-war-no-electricity-but-kuwait-reopens-its-banks.html

Pull up an historical chart of that currency and you won't find the rv. It was a redenomination at a 1 to 1 ratio. You were lied to. Sorry Edited October 2, 2013 by fib1618

[boomer113189]

GO RD!!!!! You guys kill me-lol!! Never in all my years have I've seen a faction of investors/speculators that revel in the possibility of min/no gain-priceless! Oh yeah...................it's not what you want.........rrrrrrrrrrrrrrright

 

I don't disagree with your assessment of what is being said. But like the majority of folks here I look for any smidgen of positive that might turn this dang thing our way. Its the other crap imo that's not needed. Hopes & dreams no matter the odds are also life my friend.

Read more: http://dinarvets.com/forums/index.php?/topic/162303-economists-divided-over-deletion-of-zeros-on-iraqi-dinar/page-5#ixzz2gbevA1S1

 

my point exactly like i stated in a earlier post about DINAR FOLKS  you only look for positive HOPING AND DREAMING OF A HUGE RV.  but you don't read any of the bad new fearing that it could happen and you also know it is highly likely to happen so you just ignore it and don't even waste your time on it.    most of the dinar folks just think if they only look at the positive sings they will win this speculation and they totally believe it that's the crazy part

STILL WAITING FOR ANYONE ON THIS WHOLE FORUM TO show me of an example of a time when deletion of the zeros means something that doesn't have to do with exchanging a certain amount of old banknotes for 1 new. aka redenominate

 

 

 

Edited October 2, 2013 by boomer113189

[caz1104]

my point exactly like i stated in a earlier post about DINAR FOLKS  you only look for positive HOPING AND DREAMING OF A HUGE RV.  but you don't read any of the bad new fearing that it could happen and you also know it is highly likely to happen so you just ignore it and don't even waste your time on it.    most of the dinar folks just think if they only look at the positive sings they will win this speculation and they totally believe it that's the crazy part

STILL WAITING FOR ANYONE ON THIS WHOLE FORUM TO show me of an example of a time when deletion of the zeros means something that doesn't have to do with exchanging a certain amount of old banknotes for 1 new. aka redenominate

The same can be said of the LOPsters/RD gang only in reverse. The excitement you guys get when an article of possible RD is put forth is beyond belief.....................but wait that's not what you want.............................rrrrrrrrrrrrrrrrright. P.S. We do read and accept all possibilities I think its the otherside that is not open to anything other than what they read. But hey that's cool but just don't think your the only ones that can comprehend for that is simpleton way of thinking.  

Edited October 2, 2013 by caz1104

[boomer113189]

The same can be said of the LOPsters/RD gang only in reverse. The excitement you guys get when an article of possible RD is put forth is beyond belief.....................but wait that's not what you want.............................rrrrrrrrrrrrrrrrright. P.S. We do read and accept all possibilities I think its the otherside that is not open to anything other than what they read. But hey that's cool but just don't think your the only ones that can comprehend for that is simpleton way of thinking.  

lol that's because everytime they talk about what they plan on doing with there currency they mention the 3 zeros stuff

[keepmwlknfny]

Go lop !!!!! Lol

To the lopstersa on Iraqi TV the finance committee have stated that the currency is grossly undervalued. So how does a lop add value to the currency please answer me that

Please refrain from talking about a subject which you know nothing about. If you would like, you can do a little bit of homework, and then come back when your ready to speak like an adult and we can talk it out.

[shellfish]

Enlightenment is not joyous masochism,it is just that enlightment and minimalizing any pain.I don't want any good DV folks hurt financialy and still hope for profit.There's a 341,000% chance of some zeros gone missing now we have to think hard on how to best make some money or lose very little .These people over there hate us and would take one on the chin just to hurt us. I never thought I'd get $3.41 but saw a possible float to 3-5X investment.Not with M2 @ 90 Trill. Now what Adam help.Not a VIP but throw us a bone.Good people at DV some could pass a series test just from all the work done digging and learning.Max out good DV folks ASAP.

[caz1104]

I don't think anyone wishes others to lose..................uh I take that back because there are a few truly warped minds here that do. However with that said I wish the ones that believe they are the chosen ones that have been enlighten to provide the fact and nothing but the facts would just go back to they're regular jobs at 1 (800) Psychic Hotline. 

[quadkidd1]

........................





I'm STILL waiting for someone to show me just 1 currency from history that rv'd at least 20% in a single move.

Most here are looking for 100,000% for the IQD. Lol

That gets me rolling on the floor.

Fib,
Why dont you post this question on Adams weekly chat complete with how ridiculous you think the notion is that we are going to make a handsome profit.
Challenge him with your question!
I for one would be curious as to his response.
You up for it???

Edited October 3, 2013 by quadkidd1

[shellfish]

I really don't get any joy from others pain.I also don't like "I told ya so" because I'm rarely the first to know anyway,but would love to call B.S. regarding a lop .I can't. I think some men and women here express themselves out of exasperation and disbelief at stubborn not ignorant folks. I don't take it as condescending and appreciate the links to indisputable facts. I'm only in for a mos. salary but my nieghbors are in for the 30 tons of gold,yes 1.2 bill @ $3.41 and still think they'll get it. They as do others must get real. I care more for the good DV position than my greedy nieghbors and hope you max out ASAP painlessly. GO SOMETHING...

[fib1618]

........................

I'm STILL waiting for someone to show me just 1 currency from history that rv'd at least 20% in a single move.

Most here are looking for 100,000% for the IQD. Lol

That gets me rolling on the floor.

Fib,

Why dont you post this question on Adams weekly chat complete with how ridiculous you think the notion is that we are going to make a handsome profit.

Challenge him with your question!

I for one would be curious as to his response.

You up for it???

I already know the answer. Edited October 3, 2013 by fib1618

[caz1104]

But of course you do oh great swami!!GO RD!!!!!!!!!!!!!!!!!!!!!!!!

Edited October 3, 2013 by caz1104

[ReinMan]

There's the S - word again. And I don't mean swami.

[fib1618]

But of course you do oh great swami!!GO RD!!!!!!!!!!!!!!!!!!!!!!!!

Hi

[umbertino]

Quote

Fib,
Why dont you post this question on Adams weekly chat complete with how ridiculous you think the notion is that we are going to make a handsome profit.
Challenge him with your question!
I for one would be curious as to his response.
You up for it???

End Quote
He's confined in this section and can't post anywhere else for one......

[ReinMan]

 If you take the words literally with what Iraqi figures have said, "delete the zeros,"

you COULD look at the rate and fantasize about deleting THOSE zeros, which is what everyone wants.

 

.00086

[boomer113189]

lol no one wants to answer the ? i posted

[keepmwlknfny]

If you take the words literally with what Iraqi figures have said, "delete the zeros,"

you COULD look at the rate and fantasize about deleting THOSE zeros, which is what everyone wants.

.00086

And in a way they are correct in that thinking because the NEW dinar would be at .86 lol.....

[boomer113189]

there going to revalue by redenominating.

 

 

 

Turkey carries out currency revaluation.

 

Turkey on Saturday carried out a revaluation of its currency by switching previous 1 million Turkish lira to 1 new lira

 

but for the dinar it will 1000 to 1 new

Edited October 4, 2013 by boomer113189

[boomer113189]

He added: that Iraq is not the only country to delete zeros from its currency it was Turkey and Lebanon have succeeded in stabilizing the economic situation sometimes deleted zeros from their currency. ‘

 

 

lol know all these dinar folks say no it wont be like that  CAZ

 

what they did in turkey and lebanon will happen in iraq

Edited October 4, 2013 by boomer113189