Dinar Revaluation

[dontlop]

It is appreciated, however, I do recall seeing either this video or a very similar one last year... and that is okay. I'm sure there are others who have not. We should remember though that they first said "REVALUATION" and then they stated "REDEDOMINATION"... Just an observation on my part, but maybe it will take one to insure the other. Who really knows?

Ya exactly

It could take one to insure the other

Agreed

I tried to explain that many times but you did it in one sentence

Thanks

[keepmwlknfny]

Definition of 'Redenomination'

1. The process whereby a country's currency is recalibrated due to significant inflation and currency devaluation. Certain currencies have been redenominated a number of times over the last century for various reasons.

2. The process of changing the currency value on a financial security.

Also, KEEP, you should learn that Wealth doesn't just disappear, it is merely transferred.

Not here to debate, it is a waste of time.

The video is old yes. but would you rather keep reading Keeps debates on Dinarvets which are very repetitive and lack any fresh information?

I may be giving hope, but at least I'm not ripping it away from people like some seem to do consistently...

We all bought our dinars in hope of a return not to have people discourage our own intuition.

Again I won't waste my time debating. It's like beating a dead horse. I'm sharing a video so you can decide for yourselves what to believe. I won't make you think or believe anything. That is entirely your decision.

If you think there will be a Lop, good for you!

If you think there will be an RV with a profit, good for you!

In either case you are at least thinking outside the box! Which I encourage, frankly most people lack the ability to think for themselves. Carry on now.

Yes you can post the definition but that does nothing if you dont understand it. And how do you know if your promoting hope or creating false hope when you are unclear of what the information presented is saying? Understanding information properly isnt about being pessimistic or optimistic. Thats a hole different story as far as the outcome of such and what happens.

Revaluing through the process of redenominating and removing zeros is completely different from simply revaluing a currency. And you must understand that first before processing this information you provided

[WorkerBee]

Good observation, I watched the video 6 times and I also did notice that in big letters across the screen "DINAR REVALUATION" was captioned. 

 

I just watched the video but I didn't see "DINAR REVALUATION" , scrolling across the screen.  I heard the news anchor mention it in the beginning, but in the video I heard them mention a redenomination.   What point in the video did you see this?

[fishing]

"It said Iraq currency revaluation" about 26 second into the video.

[keepmwlknfny]

"It said Iraq currency revaluation" about 26 second into the video.

And keep listening it tells you how they are revaluing. It wont make you a profit.....

[fishing]

keep' I was just saying it did say currency revaluation! That all.

[keepmwlknfny]

keep' I was just saying it did say currency revaluation! That all.

I understand...im sorry lol.....most people would just stop there after hearing those words! My bad....

[fishing]

Keep" its all good" thanks!

[WorkerBee]

"It said currency revaluation" about 26 second into the video.

 

Thanks, I finally saw it.  I had one of those annoying google adds open at the bottom of my screen the first time I watched it.

[fishing]

OK!

[Djorgie]

Yes you can post the definition but that does nothing if you dont understand it. And how do you know if your promoting hope or creating false hope when you are unclear of what the information presented is saying? Understanding information properly isnt about being pessimistic or optimistic. Thats a hole different story as far as the outcome of such and what happens.

Revaluing through the process of redenominating and removing zeros is completely different from simply revaluing a currency. And you must understand that first before processing this information you provided

 

 

Say they remove the zeros... What would your take be on that scenario? Just curious how others think it would play out. I just assumed that if they were to make any changes to the physical currency be it new denoms, replacing old notes, removal of the zeros, etc. that there would maybe be some sort of a time frame set to get the current notes exchanged kind of like when they did away with the old saddam notes?

[justchecking123]

It's a news report and related to the Iraqi Dinar. Did I do something wrong?

Actually, no...let me see if this helps.

 

Many people here had their family spend money they didn't have, listened to their "get rich quick" subconscious, believed stuff that wasn't real ("intel" from the IMF...REALLY? For FREE?) because they wanted it so badly.

 

And...nothing's changed. People get wind of this "opportunity" everyday.

 

I was told ten years ago it would be like this and not to get caught up in any hype.

 

Many people went around the hopium/blind optimism maypole way before they got to Dinarvets, I'm guessing.

 

It's an illusion until/if it ever happens, so...

 

This site keeps people in check. I appreciate both Keep and Dontlop, but especially people like Zigmeister and TBomb who spend time for us doing the do with no bias whatsoever.

 

Don't take it personal here. Many people made it personal when they purchased the currency, unfortunately.

 

Thanks.

Edited October 22, 2013 by justchecking123

[abby01]

Gee...get out of the shark tank Mr. Optimistic!  Here is a boat

Boy...people are over reacting.  It is just a post. I would have given you a larger, more attractive boat but figured it did not fit the "shark tank" size mentioned.  

[keepmwlknfny]

 

 

 

 

Say they remove the zeros... What would your take be on that scenario? Just curious how others think it would play out. I just assumed that if they were to make any changes to the physical currency be it new denoms, replacing old notes, removal of the zeros, etc. that there would maybe be some sort of a time frame set to get the current notes exchanged kind of like when they did away with the old saddam notes?

 

Well, its not really MY take on the scenario. Im just going off of the collective idea and this plan of the CBI to delete the zeros. It is unfortunately a plan to redenominate. It can be confusing because we all want a revaluation, and some sources of media such as the one posted, will refer to this idea as a revaluation (which it technically is) but its not a revaluation of the current notes or the current dinar. It would be a revaluation on the NEW series of notes, on the NEW currency. 

 

If it were just adding lower denoms to the current set that we hold, it wouldnt be referred to as a redenomination. It would be like the US did back in the day where they simply injected newer denominations to the set. No time frame for exchange, the bigger notes would just naturally make their way out of circulation because eventually people arent going to be able to give you change for a 1,000 dinar note when your buying a pack of smokes. It would be like someone today taking in a 1000 note to fill their gas tank. Who has change for you? lol

 

This plan to delete the zeros is as follows......there will be two different dinar circulating at one time....old dinar (what we hold) and the new notes without the zeros. There will be two different prices in the market. One for paying with the old currency and one for paying with the new. For instance if something costs 1,000 dinar before, it will be only 1 dinar during this process. So you can either pay with (1) 1000 dinar old note, or pay with (1) NEW 1dinar note.   The old 1000 note and the new 1 dinar note will both be equal in value. 

 

That is where the new ISO code comes into play. That is how you are allowed to have two different currencies with two different values. Our dinar that we hold would stay at 1166. The new dinar would be at 1.16.   All you do is move the decimal over 3 places. In essence there IS in fact a revaluation that takes place, but its only for the NEW dinar. Should you want to exchange your old dinar for new, you can at a ratio of 1000 old for 1 new.   No one loses anything, no one gains anything. You end up with the same value of dinar.

 

Currently the 25k note is worth under 25USD. If they delete the zeros, you will still have 25,000 dinar, but it will still be worth under 25 USD. The NEW 25 dinar will also be worth just under 25USD.  So thats what they mean when its said the 25k note will become 25 new dinar. They both will have the same value (just under 25USD).  Countries normally give a time frame for this process to occur. Iraq has stated about 2 years time to exchange all the old dinar until it becomes invalid. Now I know at one point the CBI has said they would take the old dinar for up to 10 years for exchange. But mind you, the exchange rate of that old dinar will never change. 

 

People get confused when hearing gurus and random people talk about deleting the zeros because they have a habit of misinforming people and twisting the information around. Redenominating/deleting the zeros/lopping the zeros, its all the same. Its not a devaluation of the dinar. It doesnt screw anyone out of anything. You end up with the same amount value wise as you had before, just smaller denominations, but those smaller denoms are worth more. 

 

Now Im not sitting here saying this is the only option the CBI has or that they will without a doubt lop the zeros. I dont know what they are gonna do in the end. No one does. But we are really speculating on the idea of if the CBI is lying to us or not. Its that simple.....

 

There is a big difference on what the CBI is saying they will do which is lop, and what the CBI will actually do in the end.....thats what we are here to find out but none the less, the CBI is not sitting here putting out articles about a HUGE revaluation.....they arent going to do that. No one would.....they are essentially talking about revaluing the dinar by redenominating/removing the zeros.  Its a non-profit situation....

Edited October 22, 2013 by keepmwlknfny

[Texas1]

Well, its not really MY take on the scenario. Im just going off of the collective idea and this plan of the CBI to delete the zeros. It is unfortunately a plan to redenominate. It can be confusing because we all want a revaluation, and some sources of media such as the one posted, will refer to this idea as a revaluation (which it technically is) but its not a revaluation of the current notes or the current dinar. It would be a revaluation on the NEW series of notes, on the NEW currency.

If it were just adding lower denoms to the current set that we hold, it wouldnt be referred to as a redenomination. It would be like the US did back in the day where they simply injected newer denominations to the set. No time frame for exchange, the bigger notes would just naturally make their way out of circulation because eventually people arent going to be able to give you change for a 1,000 dinar note when your buying a pack of smokes. It would be like someone today taking in a 1000 note to fill their gas tank. Who has change for you? lol

This plan to delete the zeros is as follows......there will be two different dinar circulating at one time....old dinar (what we hold) and the new notes without the zeros. There will be two different prices in the market. One for paying with the old currency and one for paying with the new. For instance if something costs 1,000 dinar before, it will be only 1 dinar during this process. So you can either pay with (1) 1000 dinar old note, or pay with (1) NEW 1dinar note. The old 1000 note and the new 1 dinar note will both be equal in value.

That is where the new ISO code comes into play. That is how you are allowed to have two different currencies with two different values. Our dinar that we hold would stay at 1166. The new dinar would be at 1.16. All you do is move the decimal over 3 places. In essence there IS in fact a revaluation that takes place, but its only for the NEW dinar. Should you want to exchange your old dinar for new, you can at a ratio of 1000 old for 1 new. No one loses anything, no one gains anything. You end up with the same value of dinar.

Currently the 25k note is worth under 25USD. If they delete the zeros, you will still have 25,000 dinar, but it will still be worth under 25 USD. The NEW 25 dinar will also be worth just under 25USD. So thats what they mean when its said the 25k note will become 25 new dinar. They both will have the same value (just under 25USD). Countries normally give a time frame for this process to occur. Iraq has stated about 2 years time to exchange all the old dinar until it becomes invalid. Now I know at one point the CBI has said they would take the old dinar for up to 10 years for exchange. But mind you, the exchange rate of that old dinar will never change.

People get confused when hearing gurus and random people talk about deleting the zeros because they have a habit of misinforming people and twisting the information around. Redenominating/deleting the zeros/lopping the zeros, its all the same. Its not a devaluation of the dinar. It doesnt screw anyone out of anything. You end up with the same amount value wise as you had before, just smaller denominations, but those smaller denoms are worth more.

Now Im not sitting here saying this is the only option the CBI has or that they will without a doubt lop the zeros. I dont know what they are gonna do in the end. No one does. But we are really speculating on the idea of if the CBI is lying to us or not. Its that simple.....

There is a big difference on what the CBI is saying they will do which is lop, and what the CBI will actually do in the end.....thats what we are here to find out but none the less, the CBI is not sitting here putting out articles about a HUGE revaluation.....they arent going to do that. No one would.....they are essentially talking about revaluing the dinar by redenominating/removing the zeros. Its a non-profit situation....

Uh hello, did you not read several months back where wife in the know had cashed out? There is a link

[easyrider]

Propagandddddddddddddaaaaaa.  even shabbs at the chamber of commerce said uhhhhhhhhhhhhhh propaganda uhhhhhhhhh we cant say anything uhhhhhhhhhhhhhhhhh.

 

Yes And what is your take on this Mr.Optimistic?

it's old news and such and Iraq's inflation is at a whopping 2.5% out of control with printing money and no telling how much they don't even know !!!

 

So Mr. Optimistic whats your take on this ????

 

Thanks for your feed back

 

agreed

Edited October 22, 2013 by easyrider

[JWJW11]

Baby boy....you have got to get yourself some help...you are nuts...funny though...I almost feel sorry for you...really pathetic man...do you know the definition of insanity?

Anyway...you seriously should give it a rest...lot more to life than the iqd...I know I know you just stop by to help people...LMFAO!!!

[sandfly]

THANKS

THANKS

[abby01]

THANKS

THANKS

Sandfly....you are too verbal!! Can you cut down on the words!    

[chess]

Good final clarification......thx.   But, still takes a bushel of rectangular pcs. of paper to buy a box of cigars!

 

 

Well, its not really MY take on the scenario. Im just going off of the collective idea and this plan of the CBI to delete the zeros. It is unfortunately a plan to redenominate. It can be confusing because we all want a revaluation, and some sources of media such as the one posted, will refer to this idea as a revaluation (which it technically is) but its not a revaluation of the current notes or the current dinar. It would be a revaluation on the NEW series of notes, on the NEW currency. 

 

If it were just adding lower denoms to the current set that we hold, it wouldnt be referred to as a redenomination. It would be like the US did back in the day where they simply injected newer denominations to the set. No time frame for exchange, the bigger notes would just naturally make their way out of circulation because eventually people arent going to be able to give you change for a 1,000 dinar note when your buying a pack of smokes. It would be like someone today taking in a 1000 note to fill their gas tank. Who has change for you? lol

 

This plan to delete the zeros is as follows......there will be two different dinar circulating at one time....old dinar (what we hold) and the new notes without the zeros. There will be two different prices in the market. One for paying with the old currency and one for paying with the new. For instance if something costs 1,000 dinar before, it will be only 1 dinar during this process. So you can either pay with (1) 1000 dinar old note, or pay with (1) NEW 1dinar note.   The old 1000 note and the new 1 dinar note will both be equal in value. 

 

That is where the new ISO code comes into play. That is how you are allowed to have two different currencies with two different values. Our dinar that we hold would stay at 1166. The new dinar would be at 1.16.   All you do is move the decimal over 3 places. In essence there IS in fact a revaluation that takes place, but its only for the NEW dinar. Should you want to exchange your old dinar for new, you can at a ratio of 1000 old for 1 new.   No one loses anything, no one gains anything. You end up with the same value of dinar.

 

Currently the 25k note is worth under 25USD. If they delete the zeros, you will still have 25,000 dinar, but it will still be worth under 25 USD. The NEW 25 dinar will also be worth just under 25USD.  So thats what they mean when its said the 25k note will become 25 new dinar. They both will have the same value (just under 25USD).  Countries normally give a time frame for this process to occur. Iraq has stated about 2 years time to exchange all the old dinar until it becomes invalid. Now I know at one point the CBI has said they would take the old dinar for up to 10 years for exchange. But mind you, the exchange rate of that old dinar will never change. 

 

People get confused when hearing gurus and random people talk about deleting the zeros because they have a habit of misinforming people and twisting the information around. Redenominating/deleting the zeros/lopping the zeros, its all the same. Its not a devaluation of the dinar. It doesnt screw anyone out of anything. You end up with the same amount value wise as you had before, just smaller denominations, but those smaller denoms are worth more. 

 

Now Im not sitting here saying this is the only option the CBI has or that they will without a doubt lop the zeros. I dont know what they are gonna do in the end. No one does. But we are really speculating on the idea of if the CBI is lying to us or not. Its that simple.....

 

There is a big difference on what the CBI is saying they will do which is lop, and what the CBI will actually do in the end.....thats what we are here to find out but none the less, the CBI is not sitting here putting out articles about a HUGE revaluation.....they arent going to do that. No one would.....they are essentially talking about revaluing the dinar by redenominating/removing the zeros.  Its a non-profit situation....

 

[keepmwlknfny]

Good final clarification......thx.   But, still takes a bushel of rectangular pcs. of paper to buy a box of cigars!

No it doesnt.....prices of goods are also adjusted because of the higher rate of the dinar. The box of cigars that was 50k dinar, is now only 50 dinar.

 

Prices of goods and wages are all adjusted accordingly....

[Djorgie]

 

Well, its not really MY take on the scenario. Im just going off of the collective idea and this plan of the CBI to delete the zeros. It is unfortunately a plan to redenominate. It can be confusing because we all want a revaluation, and some sources of media such as the one posted, will refer to this idea as a revaluation (which it technically is) but its not a revaluation of the current notes or the current dinar. It would be a revaluation on the NEW series of notes, on the NEW currency. 

 

If it were just adding lower denoms to the current set that we hold, it wouldnt be referred to as a redenomination. It would be like the US did back in the day where they simply injected newer denominations to the set. No time frame for exchange, the bigger notes would just naturally make their way out of circulation because eventually people arent going to be able to give you change for a 1,000 dinar note when your buying a pack of smokes. It would be like someone today taking in a 1000 note to fill their gas tank. Who has change for you? lol

 

This plan to delete the zeros is as follows......there will be two different dinar circulating at one time....old dinar (what we hold) and the new notes without the zeros. There will be two different prices in the market. One for paying with the old currency and one for paying with the new. For instance if something costs 1,000 dinar before, it will be only 1 dinar during this process. So you can either pay with (1) 1000 dinar old note, or pay with (1) NEW 1dinar note.   The old 1000 note and the new 1 dinar note will both be equal in value. 

 

That is where the new ISO code comes into play. That is how you are allowed to have two different currencies with two different values. Our dinar that we hold would stay at 1166. The new dinar would be at 1.16.   All you do is move the decimal over 3 places. In essence there IS in fact a revaluation that takes place, but its only for the NEW dinar. Should you want to exchange your old dinar for new, you can at a ratio of 1000 old for 1 new.   No one loses anything, no one gains anything. You end up with the same value of dinar.

 

Currently the 25k note is worth under 25USD. If they delete the zeros, you will still have 25,000 dinar, but it will still be worth under 25 USD. The NEW 25 dinar will also be worth just under 25USD.  So thats what they mean when its said the 25k note will become 25 new dinar. They both will have the same value (just under 25USD).  Countries normally give a time frame for this process to occur. Iraq has stated about 2 years time to exchange all the old dinar until it becomes invalid. Now I know at one point the CBI has said they would take the old dinar for up to 10 years for exchange. But mind you, the exchange rate of that old dinar will never change. 

 

People get confused when hearing gurus and random people talk about deleting the zeros because they have a habit of misinforming people and twisting the information around. Redenominating/deleting the zeros/lopping the zeros, its all the same. Its not a devaluation of the dinar. It doesnt screw anyone out of anything. You end up with the same amount value wise as you had before, just smaller denominations, but those smaller denoms are worth more. 

 

Now Im not sitting here saying this is the only option the CBI has or that they will without a doubt lop the zeros. I dont know what they are gonna do in the end. No one does. But we are really speculating on the idea of if the CBI is lying to us or not. Its that simple.....

 

There is a big difference on what the CBI is saying they will do which is lop, and what the CBI will actually do in the end.....thats what we are here to find out but none the less, the CBI is not sitting here putting out articles about a HUGE revaluation.....they arent going to do that. No one would.....they are essentially talking about revaluing the dinar by redenominating/removing the zeros.  Its a non-profit situation....

 

Well, not exactly what I wanted to hear, but I do appreciate your input. It would really put a whole lot of dinarians in complete shock and possibly a few cardiac arrests if this is indeed how it plays out. Seems like there should be some sort of a law against being able to use two different currencies at two different rates for a single country. Sounds like some kind of crazy clause they are trying to slip in somewhere it doesn't belong... Oh no, sorry I forgot, that's our government that does those kind of things lol. Guess I'm not as informed as I thought I was. Think I better familiarize myself a bit more with the new ISO code. I can say as of right now though that I don't like it one bit!

[keepmwlknfny]

Well, not exactly what I wanted to hear, but I do appreciate your input. It would really put a whole lot of dinarians in complete shock and possibly a few cardiac arrests if this is indeed how it plays out. Seems like there should be some sort of a law against being able to use two different currencies at two different rates for a single country. Sounds like some kind of crazy clause they are trying to slip in somewhere it doesn't belong... Oh no, sorry I forgot, that's our government that does those kind of things lol. Guess I'm not as informed as I thought I was. Think I better familiarize myself a bit more with the new ISO code. I can say as of right now though that I don't like it one bit!

LOL....its not what anyone wants to hear, believe me. And I think thats why some take it so personal when this subject is brought up. It gets really touchy for some. All you hear from the gurus is that its what we want and that its a revaluation. So people dont take the time to look and verify for themselves. Gurus hide the real meaning of a redenomination so few hear about it especially on other sites!!

 

Unfortunately for us, its all within the realm of staying within the laws. Many countries have removed zeros from their currency over the years, and thats how they go about doing it. Two different ISO codes, so technically two different currencies, so they can be assigned different values. Thats why we dont want a new ISO code either. But yet just days ago, there were posts from gurus talking about a new ISO code as if its great. It can be really confusing for the people who just want to know whats really going on!

 

Lucky for us, we havent seen any movement towards getting a new ISO code. I believe they have to apply for one first, so I would think we would get some sort of heads up if they decide to go in that direction!! And thats when you would know its time to sell asap.  If you want to learn more about removing zeros, I would study Turkey's redenomination since it was more recent and the CBI has mentioned that country as well in reference to their own plan. As far as the ISO code, I think you might just have to google that one and see what you come up with. Cant remember where the good info is on that subject...not hard to find though!

[NoviceInvestor]

The news clip is old hat .. But it beggars belief that the CBI and GOI are wasting so much time .. Really when one thinks about it the only ppl who will make money out of this will be those who sell the dinar to the plebs like us that we're gullible enough to believe in an investment that has been goin to happen every Monday\Thursday 17th of the month .. Etc etc for years .. It is almost an anti climax .... I need cheering up with some good news

[keepmwlknfny]

The news clip is old hat .. But it beggars belief that the CBI and GOI are wasting so much time .. Really when one thinks about it the only ppl who will make money out of this will be those who sell the dinar to the plebs like us that we're gullible enough to believe in an investment that has been goin to happen every Monday\Thursday 17th of the month .. Etc etc for years .. It is almost an anti climax .... I need cheering up with some good news

Well the govt is back to work!!

 

Oh wait.....I dunno if that is good or not?!? Hahaha