Deleting three zeros from currency

[boomer113189]

there have been plenty of docs stating what deleting of the zeros means and what happens to there currency's when they do it and trust me you wont make any money at all if that's the route they take

 

they have always stated they wanted to redenominate for the last couple years but they just put it on hold so they can do it when the timing is right  and they will do it eventully

Edited November 20, 2013 by boomer113189

[dontlop]

Deleting zeros means we get 7 dollars for each Dinner

[boomer113189]

Deleting zeros means we get 7 dollars for each Dinner

lol

[zigmeister]

there have been plenty of docs stating what deleting of the zeros means and what happens to there currency's when they do it and trust me you wont make any money at all if that's the route they take

 

they have always stated they wanted to redenominate for the last couple years but they just put it on hold so they can do it when the timing is right  and they will do it eventully

Japan talks about it all the time, still they have not done it.

[dontlop]

Redenomination1 has a long history: in the 19th century, when governments faced shortages of gold or silver, they sometimes adjusted the value of their coins accordingly (recoinage; see Helleiner 2003). Among developing and transition nations, currency redenomination was employed on 60 occasions during the 1960-2003 period.2 These redenominations varied in size, from removing one zero from the currency (14 instances) to removing six zeros (9 instances); the median redenomination was three zeros, dividing the currency by 1000. Nineteen countries have used redenomination on one occasion, while ten countries have redenominated twice (sometimes, with many years in between, as in Bolivia, in 1963 and 1987; in other cases, redenominations follow rather quickly, as in Peru in 1985 and 1991). Argentina (4), the former Yugoslavia/Serbia (5), and Brazil (6) are the most frequent users of redenomination.

The Rationales for Redenomination

Why do governments engage in the redenomination of their currencies? In an era when money is backed by confidence (fiat money) rather than by gold and silver, governments may be tempted to manipulate the value of the publics currency stocks as a revenue-generating measure. One means of manipulation is inflation: a government can reduce its own domestic currency-denominated obligations by allowing a dramatic expansion of the money supply. Another means of manipulation is currency reform, in which the government introduces a new currency, but makes it difficult for citizens to convert their holdings of old currency. Ignacio Mas (1995) suggests that, while the use of currency redenomination as a mechanism of confiscation is more the exception than the rule, it has been used as such throughout history. For instance, when governments require citizens to exchange old currency for new during a very short period (e.g. one day in Laos in 1976, or three days in Nicaragua in 1988 and in the Soviet Union in 1991), it is very likely that not all old currency will be exchanged. The old currency that is rendered worthless is essentially revenue indirect seignorage -- for the government.

Wanna buy my dinar bring cash

I hope citi bank accepts my dinar when its time

Those suckers got an outlet in bagdad

[boomer113189]

yep and iraq will remove 3 zeros

[SocalDinar]

yep and iraq will remove 3 zeros

 

Anyone else love going to LAS VEGAS?  I usually make it once a year for March Madness.  Sometimes I win and come home with some cash and sometimes I lose what i bring to spend.

Its about the game Boomer not the end result. Yes some have gambling problems and spend more than they can afford to lose. And Yes the house usually wins, but if you have fun playing it's no different than going to DisneyLand. Thats the way I see it anyway.  Win or lose many of us here enjoy the game.  And yes we may lose some money but we will NOT go home broke.

Its OK that you feel the need to try and spoil peoples game. There is always some obnoxious  drunk that sits down at the table. But most of the time its good people you meet and have some fun with.

And thats what matters. Most here are just part of the game and having some fun. If you have ever been to Vegas and gamble I would bet you have pleaded with a machine or a dealer to give you a winning hand. I know I have.   COME ON! COME ON! COME ON ! AWWW but Every once in a while the Royal Flush shows and you smile as you walk away.

 

 

[dontlop]

http://www.imf.org/external/np/sec/pr/2013/pr13464.htm

IMF article

[boomer113189]

Japan talks about it all the time, still they have not done it.

would never touch the yen

[zigmeister]

A very knowledgeable poster on another site..set me straight on this bitcoin thing...

Jrg says...

"Alas fib has fallen into the very trap he usually tries to warn others away from, which is coming to a conclusion on little if no real understanding. That constant is (in current code) line 53 of main.h . It is NOT imposing a limit on the number of Bitcoins that exist but reflecting the limit of the number that are theoretically possible. That number is not know exactly, we just don't have the math to be able to figure it out, but an upper bound can be computed and that is 21M coins. That limit is fundamental to the encryption codes and algorithm used and can not be changed with out invalidating all existing Bitcoins. i.e. this would be making a new currency Bitcoin2 say, but the original Bitcoins would remain and be limited to under 21M coins."

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

I'm stepping away for a few months.

Go lop.

Fib must be setting up his hasher.  Fib is a bitcoin guru.

[boomer113189]

2010 Document - Special Inspector General for Iraq Reconstruction to The United States Congress

 

 

Dinar Redenomination

The CBI has announced that it intends to implement a long-planned Redenomination of the Iraqi dinar by eliminating three zeros from the nominal value of banknotes.This process is meant to ease commercial
transactions by reducing errors and confusion that hyper-inflated currencies often cause. Now that Iraq’s inflation rate has achieved a level of stability, the move could serve to bolster confidence in the
country’s currency.The Redenomination process is set to begin in late 2010 and take two years to complete.

 

well we know why they have not done it yet they have said it tons of times

 

[boomer113189]

Found this.... The journalist plays fast n loose with the term RV but then mentions RD.

Got a few more years to wait.

 

yes this is a RD video no RV

[sportfisher]

 

FACT - If you need to know what deleting of the three zeros means look no more i have it all right here.

 

if you go to each link you will see what all the exchange rate from old to new is 1000 to 1 new     looks familiar  ?      Iraqi Dinar    http://goo.gl/d9CeSH

 

Venezuela - http://goo.gl/bhNxtF

 

Indonesia - http://goo.gl/RFyUFb

 

Mexican peso - http://goo.gl/PzwPlf

 

bulgaria lev - http://goo.gl/MdyD8V

 

Russian ruble - http://goo.gl/8N1tva

 

Israel shekels - http://goo.gl/oNsF16

 

Paraguay guarani - http://goo.gl/AvsKKg

 

Brazil Real - http://goo.gl/Tsi2ur

 

Colombia peso - http://goo.gl/X59Q6I

 

Zambia - http://goo.gl/2SHK52

 

these are just some

 

you forgot Zimbabwe, and the reason for these redenominations was out of control inflation. Do you have any indications that Iraq has high inflation?

Edited December 14, 2013 by sportfisher

[boomer113189]

you forgot Zimbabwe, and the reason for these redenominations was out of control inflation. Do you have any indications that Iraq has high inflation?

there currency is hyperinflated

[sportfisher]

there currency is hyperinflated

artificially

[boomer113189]

The CBI has announced that it intends to implement a long-planned Redenomination of the Iraqi dinar by eliminating three zeros from the nominal value of banknotes.This process is meant to ease commercial
transactions by reducing errors and confusion that hyper-inflated currencies often cause.

[fib1618]

you forgot Zimbabwe, and the reason for these redenominations was out of control inflation. Do you have any indications that Iraq has high inflation?

From the University of North Carolina study on

Re-denomination/Lops....

“we should expect that redenomination will occur after a period of high inflation, but also after that inflation has been removed from the system; a dramatic downward change in inflation should increase the chances for redenomination.”

Iraq has their inflation under control now but are left with a seriously inflated currency... a 3 zero re-denomination/Lop will take care of that problem if they ever chose to pull the trigger on that reform.

Extra zeroes on the banknotes means problems in accounting and statistical records, data processing software and payment systems...An RD/Lop will take care of this problem.

artificially

Say what????

[boomer113189]

lol

[boomer113189]

here's an RD/Delete three zeros/ lop Document    http://goo.gl/Le9Ycn